Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2021 | Feb. 16, 2022 | Jun. 30, 2021 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Dec. 31, 2021 | ||
Entity File Number | 001-36408 | ||
Entity Registrant Name | PACWEST BANCORP | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 33-0885320 | ||
Entity Address, Address Line One | 9701 Wilshire Blvd. | ||
Entity Address, Address Line Two | Suite 700 | ||
Entity Address, City or Town | Beverly Hills | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 90212 | ||
City Area Code | 310 | ||
Local Phone Number | 887-8500 | ||
Title of 12(b) Security | Common Stock, par value $0.01 per share | ||
Trading Symbol | PACW | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Shell Company | false | ||
Entity Public Float | $ 4.8 | ||
Entity Common Stock, Shares Outstanding | 117,319,693 | ||
Documents Incorporated by Reference [Text Block] | The information required by Items 10, 11, 12, 13 and 14 of Part III of this Annual Report on Form 10-K will be found in the Company's definitive proxy statement for its 2022 Annual Meeting of Stockholders, to be filed pursuant to Regulation 14A under the Securities Exchange Act of 1934, as amended, and such information is incorporated herein by this reference. | ||
Entity Central Index Key | 0001102112 | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Auditor Firm ID | 185 | ||
Auditor Location | Irvine, CA | ||
Auditor Name | KPMG LLP |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
ASSETS: | ||
Cash and due from banks | $ 112,548 | $ 150,464 |
Interest-earning deposits in financial institutions | 3,944,686 | 3,010,197 |
Total cash and cash equivalents | 4,057,234 | 3,160,661 |
Securities available-for-sale, at fair value | 10,694,458 | 5,235,591 |
Federal Home Loan Bank stock, at cost | 17,250 | 17,250 |
Total investment securities | 10,711,708 | 5,252,841 |
Gross loans and leases held for investment | 23,026,308 | 19,153,357 |
Deferred fees, net | (84,760) | (69,980) |
Allowance for loan and lease losses | (200,564) | (348,181) |
Total loans and leases held for investment, net | 22,740,984 | 18,735,196 |
Equipment leased to others under operating leases | 339,150 | 333,846 |
Premises and equipment, net | 46,740 | 39,234 |
Foreclosed assets, net | 12,843 | 14,027 |
Goodwill | 1,405,736 | 1,078,670 |
Core deposit and customer relationship intangibles, net | 44,957 | 23,641 |
Other assets | 1,083,992 | 860,326 |
Total assets | 40,443,344 | 29,498,442 |
LIABILITIES: | ||
Noninterest-bearing deposits | 14,543,133 | 9,193,827 |
Interest-bearing deposits | 20,454,624 | 15,746,890 |
Total deposits | 34,997,757 | 24,940,717 |
Borrowings | 0 | 5,000 |
Subordinated debt | 863,283 | 465,812 |
Accrued interest payable and other liabilities | 582,674 | 491,962 |
Total liabilities | 36,443,714 | 25,903,491 |
Commitments and contingencies | ||
Preferred Stock, Shares Outstanding | 0 | 0 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Authorized | $ 0.01 | $ 0.01 |
STOCKHOLDERS' EQUITY: | ||
Preferred stock ($0.01 par value; 5,000,000 shares authorized; none issued and outstanding) | $ 0 | $ 0 |
Common stock ($0.01 par value, 200,000,000 shares authorized at December 31, 2021 and 2020; 122,105,853 and 120,736,834 shares issued, respectively, includes 2,312,080 and 1,608,126 shares of unvested restricted stock, respectively) | 1,221 | 1,207 |
Additional paid-in capital | 3,013,399 | 3,100,633 |
Retained earnings | 1,016,350 | 409,391 |
Treasury stock, at cost (2,520,999 and 2,321,981 shares at December 31, 2021 and 2020) | (97,308) | (88,803) |
Accumulated other comprehensive income, net | 65,968 | 172,523 |
Total stockholders' equity | 3,999,630 | 3,594,951 |
Total liabilities and stockholders' equity | $ 40,443,344 | $ 29,498,442 |
Preferred Stock, Value, Outstanding | 5,000,000 | 5,000,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, Shares Authorized | $ 0.01 | $ 0.01 |
Preferred Stock, Value, Outstanding | 5,000,000 | 5,000,000 |
Common stock, par value | $ 0.01 | |
Common stock, shares authorized | 200,000,000 | |
Common Stock, Shares, Issued, Acquisitions | 122,105,853 | 120,736,834 |
Equity Instruments Other than Options, Nonvested, Number | 2,312,080 | 1,608,126 |
Treasury Stock, Shares | 2,520,999 | 2,321,981 |
Consolidated Statements of Earn
Consolidated Statements of Earnings - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Interest income: | |||
Loans and leases | $ 996,457 | $ 993,138 | $ 1,097,845 |
Investment securities | 153,468 | 106,770 | 115,569 |
Deposits in financial institutions | 8,804 | 3,583 | 6,479 |
Total interest income | 1,158,729 | 1,103,491 | 1,219,893 |
Interest expense: | |||
Deposits | 27,808 | 59,663 | 148,460 |
Borrowings | 623 | 8,161 | 26,961 |
Subordinated debt | 26,474 | 21,109 | 29,843 |
Total interest expense | 54,905 | 88,933 | 205,264 |
Net interest income | 1,103,824 | 1,014,558 | 1,014,629 |
Provision for credit losses | (162,000) | 339,000 | 22,000 |
Net interest income after provision for credit losses | 1,265,824 | 675,558 | 992,629 |
Noninterest income: | |||
Other commissions and fees | 42,287 | 40,347 | 43,623 |
Leased equipment income | 45,746 | 43,628 | 38,727 |
Service charges on deposit accounts | 13,269 | 10,351 | 14,637 |
Gain on sale of loans and leases | 1,733 | 2,139 | 1,114 |
Gain on sale of securities | 1,615 | 13,171 | 25,445 |
Dividends and gains (losses) on equity investments | 23,115 | 14,984 | (567) |
Warrant income | 49,341 | 10,609 | 8,669 |
Other income | 16,821 | 10,831 | 10,914 |
Total noninterest income | 193,927 | 146,060 | 142,562 |
Noninterest expense: | |||
Compensation | 368,450 | 271,494 | 285,862 |
Occupancy | 58,422 | 57,555 | 57,407 |
Leased equipment depreciation | 35,755 | 28,865 | 24,016 |
Data processing | 30,277 | 26,779 | 27,556 |
Insurance and assessments | 17,365 | 22,625 | 16,404 |
Other professional services | 21,492 | 19,917 | 17,803 |
Customer related expense | 20,504 | 17,532 | 13,839 |
Intangible asset amortization | 12,734 | 14,753 | 18,726 |
Loan expense | 17,031 | 13,454 | 12,931 |
Acquisition, integration and reorganization costs | 9,415 | 1,060 | 349 |
Foreclosed assets income, net | (213) | (17) | (3,555) |
Goodwill impairment | 0 | 1,470,000 | 0 |
Other expense | 46,185 | 40,002 | 30,913 |
Total noninterest expense | 637,417 | 1,984,019 | 502,251 |
Earnings (loss) before income taxes | 822,334 | (1,162,401) | 632,940 |
Income tax expense | (215,375) | (75,173) | (164,304) |
Net earnings (loss) | $ 606,959 | $ (1,237,574) | $ 468,636 |
Basic income per share (usd per share) | $ 5.10 | $ (10.61) | $ 3.90 |
Diluted income per share (usd per share) | $ 5.10 | $ (10.61) | $ 3.90 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Statement of Comprehensive Income [Abstract] | ||||
Net earnings (loss) | $ 606,959 | $ (1,237,574) | $ 468,636 | |
arising during the year | (146,066) | 142,696 | 143,019 | |
(losses) arising during the year | 40,677 | (39,335) | (40,058) | |
net of tax | (105,389) | 103,361 | 102,961 | |
Reclassification adjustment for net gains included in net earnings (1) | [1] | (1,615) | (13,171) | (25,445) |
Income tax expense related to reclassification adjustment | 449 | 3,675 | 7,217 | |
net earnings, net of tax | (1,166) | (9,496) | (18,228) | |
Other comprehensive income (loss), net of tax | (106,555) | 93,865 | 84,733 | |
Comprehensive income (loss) | $ 500,404 | $ (1,143,709) | $ 553,369 | |
[1] | Entire amount recognized in " Gain on sale of securities " on the Consolidated Statements of Earnings (Loss). |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | |
Dividends declared per share (usd per share) | $ 1 | ||||||
Shares, Outstanding at Dec. 31, 2018 | 123,189,833 | ||||||
Total stockholders' equity at Dec. 31, 2018 | $ 4,825,588 | $ 1,251 | $ 3,722,723 | $ 1,182,674 | $ (74,985) | $ (6,075) | |
New Accounting Pronouncement Or Change In Accounting Principle Effect Of Change of Income Taxes | [1] | 938 | 938 | ||||
Net Income | 468,636 | 468,636 | |||||
Other comprehensive loss | 84,733 | 84,733 | |||||
Restricted stock awarded and earned stock compensation, net of shares forfeited, shares | 798,248 | ||||||
net of shares forfeited | 26,815 | $ 8 | 26,807 | ||||
Restricted stock surrendered, shares | (218,531) | ||||||
Stock Repurchase Program | (8,449) | (8,449) | |||||
Dividend reinvestment, shares | (3,987,945) | ||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | $ (40) | ||||||
Dividend reinvestment | (154,516) | (154,476) | |||||
Common stock, $1.00/share | (289,048) | (289,048) | |||||
Shares, Outstanding at Dec. 31, 2019 | 119,781,605 | ||||||
Total stockholders' equity at Dec. 31, 2019 | $ 4,954,697 | $ 1,219 | 3,306,006 | 1,652,248 | (83,434) | 78,658 | |
Dividends declared per share (usd per share) | $ 1.35 | ||||||
New Accounting Pronouncement Or Change In Accounting Principle Effect Of Change of Income Taxes | [2] | $ (5,283) | (5,283) | ||||
Net Income | (1,237,574) | (1,237,574) | |||||
Other comprehensive loss | 93,865 | 93,865 | |||||
Restricted stock awarded and earned stock compensation, net of shares forfeited, shares | 800,537 | ||||||
net of shares forfeited | 24,363 | $ 8 | 24,355 | ||||
Restricted stock surrendered, shares | (213,578) | ||||||
Stock Repurchase Program | (5,369) | (5,369) | |||||
Dividend reinvestment, shares | (1,953,711) | ||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | $ (20) | ||||||
Common Stock Repurchased Under Stock Repurchase Program, Amount Repurchased | (70,000) | (69,980) | |||||
Common stock, $1.00/share | (159,748) | (159,748) | |||||
Shares, Outstanding at Dec. 31, 2020 | 118,414,853 | ||||||
Total stockholders' equity at Dec. 31, 2020 | $ 3,594,951 | $ 1,207 | 3,100,633 | 409,391 | (88,803) | 172,523 | |
Dividends declared per share (usd per share) | $ 2.40 | ||||||
Net Income | $ 606,959 | 606,959 | |||||
Other comprehensive loss | (106,555) | (106,555) | |||||
Restricted stock awarded and earned stock compensation, net of shares forfeited, shares | 1,369,019 | ||||||
net of shares forfeited | 32,223 | $ 14 | 32,209 | ||||
Restricted stock surrendered, shares | (199,018) | ||||||
Stock Repurchase Program | (8,505) | (8,505) | |||||
Common stock, $1.00/share | (119,443) | (119,443) | |||||
Shares, Outstanding at Dec. 31, 2021 | 119,584,854 | ||||||
Total stockholders' equity at Dec. 31, 2021 | $ 3,999,630 | $ 1,221 | $ 3,013,399 | $ 1,016,350 | $ (97,308) | $ 65,968 | |
[1] | Impact due to adoption on January 1, 2019 of ASU 2016-02, " Leases (Topic 842)," and the related amendments. | ||||||
[2] | Impact due to adoption on January 1, 2020 of ASU 2016-13, " Financial Instruments - Credit Losses (ASC 326): Measurement of Credit Losses on Financial Instruments," and the related amendments, commonly referred to as CECL. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | |||
Net earnings (loss) | $ 606,959 | $ (1,237,574) | $ 468,636 |
Goodwill impairment | 0 | 1,470,000 | 0 |
Depreciation and amortization | 52,195 | 44,839 | 39,115 |
Amortization of net premiums on securities available-for-sale | 44,197 | 16,311 | 13,962 |
Intangible asset amortization | 12,734 | 14,753 | 18,726 |
Amortization of operating lease ROU assets | 30,406 | 29,432 | 29,393 |
Provision for credit losses | (162,000) | 339,000 | 22,000 |
Gain on sale of foreclosed assets, net | (406) | (495) | (3,689) |
Provision for losses on foreclosed assets | 14 | 267 | 78 |
Gain on sale of loans and leases, net | (1,733) | (2,139) | (1,114) |
Loss on sale of premises and equipment | 74 | 346 | 599 |
Gain on sale of securities, net | (1,615) | (13,171) | (25,445) |
Gain on BOLI death benefits | (491) | 0 | 0 |
Unrealized (gain) loss on derivatives and foreign currencies, net | (1,134) | 66 | (228) |
(Increase) decrease in other assets | (97,181) | (105,749) | 30,261 |
Decrease in accrued interest payable and other liabilities | (11,286) | (96,376) | (36,449) |
Net cash provided by operating activities | 502,956 | 483,873 | 582,660 |
Cash flows from investing activities: | |||
Cash acquired in acquisitions, net of cash consideration paid | 3,757,122 | 0 | 0 |
Net increase in loans and leases | (3,925,829) | (463,643) | (1,005,478) |
Proceeds from sales of loans and leases | 144,550 | 128,138 | 102,573 |
Proceeds from maturities and paydowns of securities available-for-sale | 847,472 | 439,473 | 325,863 |
Proceeds from sales of securities available-for-sale | 367,348 | 173,425 | 1,584,860 |
Purchases of securities available-for-sale | (6,863,950) | (1,924,917) | (1,569,421) |
Net redemptions (purchases) of Federal Home Loan Bank stock | 0 | 23,674 | (8,821) |
Proceeds from sales of foreclosed assets | 2,638 | 1,396 | 8,590 |
Purchases of premises and equipment, net | (17,262) | (12,529) | (15,104) |
Proceeds from sales of premises and equipment | 95 | 8 | 73 |
Proceeds from BOLI death benefits | 4,143 | 761 | 555 |
Net increase in equipment leased to others under operating leases | (30,786) | (46,765) | (54,996) |
Net cash used in investing activities | (5,714,459) | (1,680,979) | (631,306) |
Cash flows from financing activities: | |||
Net increase (decrease) in noninterest-bearing deposits | 3,726,157 | 1,952,116 | (643,530) |
Net increase in interest-bearing deposits | 2,170,769 | 3,757,152 | 1,008,152 |
Net (decrease) increase in borrowings | (55,210) | (1,754,008) | 387,894 |
Common stock repurchased and restricted stock surrendered | (8,505) | (75,369) | (162,965) |
Cash dividends paid, net | (119,443) | (159,748) | (289,048) |
Net cash provided by financing activities | 6,108,076 | 3,720,143 | 300,503 |
Net increase in cash and cash equivalents | 896,573 | 2,523,037 | 251,857 |
Cash and cash equivalents, beginning of year | 3,160,661 | 637,624 | 385,767 |
Cash and cash equivalents, end of year | 4,057,234 | 3,160,661 | 637,624 |
Supplemental disclosures of cash flow information: | |||
Cash paid for interest | 53,446 | 99,605 | 200,463 |
Cash paid for income taxes | 136,015 | 114,235 | 123,533 |
Loans transferred to foreclosed assets | 1,062 | 14,755 | 120 |
Transfers from loans held for investment to loans held for sale | 25,554 | 0 | 25,124 |
Fair value of assets acquired | 40,443,344 | 29,498,442 | |
Liabilities assumed | 36,443,714 | 25,903,491 | |
Parent [Member] | |||
Cash flows from operating activities: | |||
Earned stock compensation | 32,223 | 24,363 | 26,815 |
(Increase) decrease in other assets | (67,242) | (29,568) | (35,510) |
Cash flows from financing activities: | |||
Proceeds from subordinated notes offering, net | 394,308 | 0 | 0 |
Common stock repurchased and restricted stock surrendered | (75,369) | (162,965) | |
Cash dividends paid, net | (159,748) | $ (289,048) | |
Supplemental disclosures of cash flow information: | |||
Fair value of assets acquired | 4,144,900 | 3,734,507 | |
Liabilities assumed | $ 145,270 | $ 139,556 |
Nature of Operations and Summar
Nature of Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Operations and Summary of Significant Accounting Policies | NOTE 1. NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES PacWest Bancorp, a Delaware corporation, is a bank holding company registered under the BHCA, with our corporate headquarters located in Beverly Hills, California. Our principal business is to serve as the holding company for our wholly-owned subsidiary, Pacific Western Bank. References to "Pacific Western" or the "Bank" refer to Pacific Western Bank together with its wholly-owned subsidiaries. References to "we," "us," or the "Company" refer to PacWest Bancorp together with its subsidiaries on a consolidated basis. When we refer to "PacWest" or to the "holding company," we are referring to PacWest Bancorp, the parent company, on a stand-alone basis. The Bank is focused on relationship-based business banking to small, middle-market, and venture-backed businesses nationwide. The Bank offers a broad range of loan and lease and deposit products and services through 69 f ull-service branches located in California, one branch located in Durham, North Carolina, one branch located in Denver, Colorado, and numerous loan production offices across the country. The Bank provides community banking products including lending and comprehensive deposit and treasury management services to small and medium-sized businesses conducted primarily through our California-based branch offices and Denver, Colorado branch office. The Bank offers national lending products including asset-based, equipment, and real estate loans and treasury management services to established middle-market businesses on a national basis. The Bank also offers venture banking products including a comprehensive suite of financial services focused on entrepreneurial and venture-backed businesses and their venture capital and private equity investors, with offices located in key innovative hubs across the United States. The Bank also offers financing of business-purpose non-owner-occupied investor properties through Civic, a wholly-owned subsidiary. The Bank also provides a specialized suite of services for the HOA industry. In addition, we provide investment advisory and asset management services to select clients through Pacific Western Asset Management Inc., a wholly-owned subsidiary of the Bank and an SEC-registered investment adviser. We generate our revenue primarily from interest received on loans and leases and, to a lesser extent, from interest received on investment securities, and fees received in connection with deposit services, extending credit and other services offered, including treasury management and investment management services. Our major operating expenses are the interest paid by the Bank on deposits and borrowings, compensation, occupancy, and general operating expenses. (a) Accounting Standards Adopted in 2021 Effective January 1, 2021, the Company adopted ASU 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ” which simplifies the accounting for income taxes by eliminating certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The amendment also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements. Effective January 1, 2021, the Company adopted ASU 2020-01, “ Investments – Equity Securities (Topic 321), Investments – Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) ” which clarifies that entities that apply the measurement alternative in ASC 321 should consider observable transactions that result in entities initially applying or discontinuing the use of the equity method of accounting under ASC 323. The guidance also clarifies that certain forward contracts and purchased options on equity securities that are not deemed to be in-substance common stock under ASC 323 or accounted for as derivatives under ASC 815 are in the scope of ASC 321. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements. Effective January 1, 2021, the Company adopted ASU 2020-08, “ Codification Improvements to Subtopic 310-20, Receivables – Nonrefundable Fees and Other Costs ” which clarifies the Company should reevaluate whether a callable debt security that has multiple call dates is within the scope of ASC 310-20-35-33 at each reporting period. ASC 310-20-35-33 requires that, to the extent the amortized cost basis of an individual callable debt security exceeds the amount repayable by the issuer at the next call date, the excess should be amortized to the earliest call date. As the Company’s accounting policy to amortize premiums on investments in callable debt securities to the earliest call date is consistent with the manner required by ASU 2020-08, the adoption of this standard had no impact on the Company’s consolidated financial statements. In August 2021, the FASB issued ASU 2021-06, " Presentation of Financial Statements (Topic 205), Financial Services – Depository and Lending (Topic 942), and Financial Services – Investment Companies (Topic 946): Amendments to SEC Paragraphs Pursuant to SEC Final Rule Releases No. 33-10786, Amendments to Financial Disclosures about Acquired and Disposed Businesses, and No. 33-10835, Update of Statistical Disclosures for Bank and Savings and Loan Registrants (SEC Update)," to amend SEC paragraphs in the Accounting Standards Codification to reflect the issuance of SEC Release No. 33-10786, Amendments to Financial Disclosures about Acquired and Disposed Businesses, and No. 33-10835, Update of Statistical Disclosures for Bank and Savings and Loan Registrants. The Company adopted Rule 33-10786 on January 1, 2021 on its effective date and it did not have a material impact on the Company’s consolidated financial statements. The Company also adopted Rule 33-10835 in conjunction with the completion of our Annual Report on Form 10-K for the fiscal year ended December 31, 2021. The adoption of this disclosure guidance did not have a material impact on our consolidated financial statements. (b) Basis of Presentation The accounting and reporting policies of the Company are in accordance with U.S. generally accepted accounting principles, which we may refer to as U.S. GAAP. In the opinion of management, all significant intercompany accounts and transactions have been eliminated and adjustments, consisting solely of normal recurring accruals and considered necessary for the fair presentation of financial statements have been included. (c) Use of Estimates The Company has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period to prepare these consolidated financial statements in conformity with U.S. GAAP. Actual results could differ from those estimates. Material estimates subject to change in the near term include, among other items, the allowance for credit losses (the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments), the carrying value of goodwill and other intangible assets, and the realization of deferred tax assets. These estimates may be adjusted as more current information becomes available, and any adjustment may be significant. (d) Reclassifications Certain prior period amounts have been reclassified to conform to the current period’s presentation format. On the consolidated statements of earnings (loss), new lines are presented for "Dividends and gains (losses) on equity investments" and "Warrant income," as those categories exceeded the disclosure materiality threshold in 2021, which previously had been included as part of "Other income." We realigned our other commercial subclasses by moving our cash flow subclass into the other lending subclass. All of the loan and allowance tables, both current period and prior periods, reflect these realignments. In our securities available-for-sale tables, we presented a new line for private label commercial MBS, which had previously been included with the asset-backed securities line. All of the securities available-for-sale tables, both current period and prior periods, reflect this new presentation. (e) Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, cash and cash equivalents consist of: (1) cash and due from banks, (2) interest‑earning deposits in financial institutions, and (3) securities purchased under resale agreements. Interest‑earning deposits in financial institutions represent mostly cash held at the FRBSF, the majority of which is immediately available. (f) Investment in Debt Securities We determine the classification of securities at the time of purchase. If we have the intent and the ability at the time of purchase to hold securities until maturity, they are classified as held‑to‑maturity and stated at amortized cost. We do not classify any securities as held-to-maturity. Securities to be held for indefinite periods of time, but not necessarily to be held‑to‑maturity or on a long‑term basis, are classified as available‑for‑sale and carried at estimated fair value, with unrealized gains or losses reported as a separate component of stockholders’ equity in accumulated other comprehensive income (loss), net of applicable income taxes. Securities available‑for‑sale include securities that management intends to use as part of its asset/liability management strategy and that may be sold in response to changes in interest rates, prepayment risk, and other related factors. Securities are individually evaluated for appropriate classification when acquired. As a result, similar types of securities may be classified differently depending on factors existing at the time of purchase. The carrying values of all securities are adjusted for amortization of premiums and accretion of discounts using the interest method. Premiums on callable securities are amortized to the earliest call date. Realized gains or losses on the sale of securities, if any, are determined using the amortized cost of the specific securities sold. Such gains or losses are included in "Gain on sale of securities" on the consolidated statements of earnings (loss). Prior to January 1, 2020, debt securities available-for-sale were measured at fair value and declines in the fair value were reviewed to determine whether the impairment was other-than-temporary. If the decline in fair value was considered temporary, the decline in fair value below the amortized cost basis of a security was recognized in other comprehensive income (loss). If we did not expect to recover the entire amortized cost basis of the security, then an other-than-temporary impairment was considered to have occurred. The cost basis of the security was written down to its estimated fair value and the amount of the write-down was recognized through a charge to earnings. If the amount of the amortized cost basis expected to be recovered increased in a future period, the cost basis of the security was not increased but rather recognized prospectively through interest income. Effective January 1, 2020, upon the adoption of ASU 2016-13, " Financial Instruments - Credit Losses (ASC 326): Measurement of Credit Losses on Financial Instruments ," debt securities available-for-sale are measured at fair value and are subject to impairment testing. A security is impaired if the fair value of the security is less than its amortized cost basis. When an available-for-sale debt security is considered impaired, the Company must determine if the decline in fair value has resulted from a credit-related loss or other factors and then, (1) recognize an allowance for credit losses by a charge to earnings for the credit-related component (if any) of the decline in fair value, and (2) recognize in other comprehensive income (loss) any non-credit related components (if any) of the fair value decline. If the amount of the amortized cost basis expected to be recovered increases in a future period, the valuation allowance would be reduced, but not more than the amount of the current existing allowance for that security. (g) Equity and Other Investments Investments in equity securities are classified into one of the following two categories and accounted as follows: • Securities with a readily determinable fair value are reported at fair value, with changes in fair value recorded in earnings. • Securities without a readily determinable fair value for which we have elected the "measurement alternative" are reported at cost less impairment (if any) plus or minus adjustments resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. Investments in common or preferred stock that are not publicly traded and certain investments in limited partnerships are considered equity investments that do not have a readily determinable fair value. On a quarterly basis, we review our equity investments without readily determinable fair values for impairment. We consider a number of qualitative factors such as whether there is a significant deterioration in earnings performance, credit rating, asset quality, or business prospects of the investee in determining if impairment exists. If the investment is considered impaired, an impairment loss equal to the amount by which the carrying value exceeds its fair value is recorded through a charge to earnings. The impairment loss may be reversed in a subsequent period if there are observable transactions for the identical or similar investment of the same issuer at a higher amount than the carrying amount that was established when the impairment was recognized. Impairment as well as upward or downward adjustments resulting from observable price changes in orderly transactions for identical or similar investments are included in “Noninterest income - other.” Included in our equity investments that do not have a readily determinable fair value are our investments in non-public Small Business Investment Companies ("SBICs"). All of our SBIC investments meet the definition of investment companies, as defined in ASC 946, Financial Services - Investment Companies . We elected the practical expedient available in Topic 820, Fair Value Measurements , which permits the use of net asset value ("NAV") per share or equivalent to value investments in entities that are or are similar to investment companies. SBICs are required to value and report their investments at estimated fair value. We record the unrealized gains and losses resulting from changes in the fair value of our SBIC investments as gains or losses on equity investments in our consolidated statements of earnings (loss). The carrying value of our SBIC investments is equal to the capital account balance per each SBIC entities' quarterly financial statements. Realized gains or losses resulting from the sale of equity investments are calculated using the specific identification method and are included in "Noninterest income - other." If we have the ability to significantly influence the operating and financial policies of the investee, the investment is accounted for pursuant to the equity method of accounting. This is generally presumed to exist when we own between 20% and 50% of a corporation, or when we own greater than 5% of a limited partnership or similarly structured entity. Our equity investment carrying values are included in other assets and our share of earnings and losses in equity method investees is included in "Noninterest income - other" on the consolidated statements of earnings (loss). Investments in FHLB stock are carried at cost and evaluated regularly for impairment. FHLB stock is expected to be redeemed at par and is a required investment based on measurements of the Bank’s assets and/or borrowing levels. (h) Loans and Leases Originated loans. Loans are originated by the Company with the intent to hold them for investment and are stated at the principal amount outstanding, net of unearned income. Unearned income includes deferred unamortized nonrefundable loan fees and direct loan origination costs. Net deferred fees or costs are recognized as an adjustment to interest income over the contractual life of the loans primarily using the effective interest method or taken into income when the related loans are paid off or sold. The amortization of loan fees or costs is discontinued when a loan is placed on nonaccrual status. Interest income is recorded on an accrual basis in accordance with the terms of the respective loan. Purchased loans. Purchased loans are stated at the principal amount outstanding, net of unearned discounts or unamortized premiums. All loans acquired in our acquisitions are initially measured and recorded at their fair value on the acquisition date. A component of the initial fair value measurement is an estimate of the credit losses over the life of the purchased loans. Purchased loans are also evaluated to determine if they have experienced a more-than-insignificant deterioration in credit quality since origination or issuance as of the acquisition date and are classified as either (i) loans purchased without evidence of deteriorated credit quality (“non-PCD loans”), or (ii) loans purchased that have experienced a more-than-insignificant deterioration in credit quality, referred to as purchased credit deteriorated loans ("PCD loans”). Acquired non‑PCD loans. Acquired non‑PCD loans are those loans for which there was no evidence of a more-than-insignificant credit deterioration at their acquisition date and it was probable that we would be able to collect all contractually required payments. Acquired non‑PCD loans, together with originated loans, are referred to as Non‑PCD loans. Purchase discounts or premiums on acquired non‑PCD loans are recognized as an adjustment to interest income over the contractual life of such loans using the effective interest method or taken into income when the related loans are paid off or sold. Purchased loans with credit deterioration. Prior to January 1, 2020, purchased credit impaired loans were accounted for in accordance with ASC Subtopic 310-30, “ Loans and Debt Securities Acquired with Deteriorated Credit Quality.” At the time of acquisition, these loans were recorded at estimated fair value based upon estimated future cash flows with no related allowance for credit losses. Effective January 1, 2020, upon the adoption of ASU 2016-13, an entity records purchased financial assets with credit deterioration ("PCD assets") at the purchase price plus the allowance for credit losses expected at the time of acquisition. This allowance is recognized through a gross-up that increases the amortized cost basis of the asset with no effect on net income. Subsequent changes (favorable and unfavorable) in expected cash flows are recognized immediately in net income by adjusting the related allowance. Leases to customers. We provide equipment financing to our customers primarily with direct financing and operating leases. For direct financing leases, lease receivables are recorded on the balance sheet but the leased property is not, although we generally retain legal title to the leased property until the end of each lease. Direct financing leases are stated at the net amount of minimum lease payments receivable, plus any unguaranteed residual value, less the amount of unearned income and net acquisition discount at the reporting date. Direct lease origination costs are amortized using the effective interest method over the life of the leases. Leases acquired in an acquisition are initially measured and recorded at their fair value on the acquisition date. Purchase discount or premium on acquired leases is recognized as an adjustment to interest income over the contractual life of the leases using the effective interest method or taken into income when the related leases are paid off. Direct financing leases are subject to our accounting for allowance for loans and leases. We provide equipment financing through operating leases where we facilitate the purchase of equipment leased to customers. The equipment is shown on our consolidated balance sheets as "Equipment leased to others under operating leases" and is depreciated to its estimated residual value at the end of the lease term, shown as "Leased equipment depreciation" in the consolidated statements of earnings (loss), according to our fixed asset accounting policy. We receive periodic rental income payments under the leases, which are recorded as "Noninterest income" in the consolidated statements of earnings (loss). Delinquent or past due loans and leases. Loans and leases are considered delinquent when principal or interest payments are past due 30 days or more. Delinquent loans may remain on accrual status between 30 days and 89 days past due. Nonaccrual loans and leases. When we discontinue the accrual of interest on a loan or lease it is designated as nonaccrual. We discontinue the accrual of interest on a loan or lease generally when a borrower's principal or interest payments or a lessee's payments are past due 90 days or when, in the opinion of management, there is a reasonable doubt as to collectability in the normal course of business. Loans with interest or principal payments past due 90 days or leases with payments past due 90 days may be accruing if the loans or leases are concluded to be well-secured and in the process of collection; however, these loans or leases are still reported as nonperforming. When loans or leases are placed on nonaccrual status, all interest previously accrued but not collected is reversed against current period interest income. Interest on nonaccrual loans or leases is subsequently recognized only to the extent that cash is received and the loan principal balance or lease balance is deemed collectable. Loans or leases are restored to accrual status when the loans or leases become both well‑secured and are in the process of collection. Individually Evaluated Loans and Leases . Loans and leases that do not share similar risk characteristics with other financial assets are individually evaluated for impairment and excluded from loan pools used within the collective evaluation of estimated credit losses . We defined the following criteria for what constitutes a “default,” which results in a loan no longer sharing similar risk characteristics with other loans, and therefore requires an individual evaluation for expected credit losses. The criteria for default may include any one of the following: • On nonaccrual status, • Modified under a TDR, • Payment delinquency of 90 days or more, • Partial charge-off recognized, • Risk rated doubtful or loss, or • Reasonably expected to be modified under a TDR. Defaulted loans and leases with outstanding balances over $250,000 are reviewed individually for expected credit loss. Individually evaluated loans are measured at the present value of the expected future cash flows discounted at the loan's initial effective interest rate, unless the loans are collateral dependent, in which case loan impairment is based on the estimated fair value of the underlying collateral. A loan is considered collateral-dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. The fair value of each loan’s collateral is generally based on estimated market prices from an independently prepared appraisal, which is then adjusted for the cost related to liquidating such collateral. An individually evaluated reserve and/or charge off would be recognized when the present value of expected future cash flows or the fair value of the underlying collateral is below the amortized cost of the loan. If the measured amount of any individually reviewed loan exceeds its amortized cost, further review is required to determine whether a positive allowance should be added (but only up to amounts previously written off) to its amortized cost basis in order to reflect the net amount expected to be collected. Troubled debt restructurings. A loan is classified as a troubled debt restructuring when we grant a concession to a borrower experiencing financial difficulties that we otherwise would not consider under our normal lending policies. These concessions may include a reduction of the interest rate, principal or accrued interest, extension of the maturity date or other actions intended to minimize potential losses. All modifications of criticized loans are evaluated to determine whether such modifications are troubled debt restructurings as outlined under ASC Subtopic 310‑40, “Troubled Debt Restructurings by Creditors.” Loans restructured with an interest rate equal to or greater than that of a new loan with comparable market risk at the time the loan is modified may be excluded from certain restructured loan disclosures in years subsequent to the restructuring if the loans are in compliance with their modified terms. Between March 2020 and December 2021, the Company granted various commercial and consumer loan modifications to provide borrowers relief from the economic impacts of COVID-19. In accordance with the Coronavirus Aid, Relief, and Economic Security ("CARES") Act, the Company elected to not apply TDR classification to COVID-19 related loan modifications that met all of the requisite criteria as stipulated in the CARES Act. A loan that has been placed on nonaccrual status that is subsequently restructured will usually remain on nonaccrual status until the borrower is able to demonstrate repayment performance in compliance with the restructured terms for a sustained period of time, typically for six months. A restructured loan may return to accrual status sooner based on other significant events or circumstances. A loan that has not been placed on nonaccrual status may be restructured and such loan may remain on accrual status after such restructuring. In these circumstances, the borrower has made payments before and after the restructuring. Generally, this restructuring involves maturity extensions, a reduction in the loan interest rate and/or a change to interest‑only payments for a period of time. Loan modifications that qualify as troubled debt restructurings are individually evaluated for expected credit losses based on the present value of expected cash flows discounted at the loan’s original effective interest rate or based on the fair value of the collateral if the loan is collateral-dependent. Impaired loans and leases. Prior to January 1, 2020, a loan or lease was considered impaired when it was probable that we would be unable to collect all amounts due according to the contractual terms of the loan or lease agreement. Impaired loans and leases included loans and leases on nonaccrual status and performing troubled debt restructured loans. Income from impaired loans was recognized on an accrual basis unless the loan was on nonaccrual status. Income from loans on nonaccrual status was recognized to the extent cash was received and when the loan’s principal balance was deemed collectable. We measured impairment of a loan or lease by using the estimated fair value of the collateral, less estimated costs to sell and other applicable costs, if the loan or lease was collateral‑dependent and the present value of the expected future cash flows discounted at the loan’s or lease’s effective interest rate if the loan or lease was not collateral‑dependent. The impairment amount on a collateral‑dependent loan or lease was charged‑off, and the impairment amount on a loan that was not collateral‑dependent was generally recorded as a specific reserve within our allowance for loan and lease losses. (i) Allowance for Credit Losses on Loans and Leases Held for Investment Effective January 1, 2020, upon the adoption of ASU 2016-13, the Company replaced the incurred loss accounting approach with the current expected credit loss ("CECL") approach for financial instruments measured at amortized cost and other commitments to extend credit. CECL requires the immediate recognition of estimated credit losses expected to occur over the estimated remaining life of the asset. The forward-looking concept of CECL requires loss estimates to consider historical experience, current conditions and reasonable and supportable forecasts. The allowance for credit losses on loans and leases held for investment is the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments. The allowance for loan and lease losses is reported as a reduction of the amortized cost basis of loans and leases, while the reserve for unfunded loan commitments is included within "Accrued interest payable and other liabilities" on the consolidated balance sheets. The amortized cost basis of loans and leases does not include accrued interest receivable, which is included in "Other assets" on the consolidated balance sheets. The "Provision for credit losses" on the consolidated statements of earnings (loss) is a combination of the provision for loan and lease losses and the provision for unfunded loan commitments. Under the CECL methodology, expected credit losses reflect losses over the remaining contractual life of an asset, considering the effect of prepayments and available information about the collectability of cash flows, including information about relevant historical experience, current conditions, and reasonable and supportable forecasts of future events and circumstances. Thus, the CECL methodology incorporates a broad range of information in developing credit loss estimates. The resulting allowance for loan and lease losses is deducted from the associated amortized cost basis to reflect the net amount expected to be collected. Subsequent changes in this estimate are recorded through the provision for credit losses and the allowance. The CECL methodology could result in significant changes to both the timing and amounts of provision for credit losses and the allowance as compared to historical periods. Loans and leases that are deemed to be uncollectable are charged off and deducted from the allowance. The provision for credit losses and recoveries on loans and leases previously charged off are added to the allowance. The allowance for loan and lease losses is comprised of an individually evaluated component for loans and leases that no longer share similar risk characteristics with other loans and leases and a pooled loans component for loans and leases that share similar risk characteristics. A loan or lease with an outstanding balance greater than $250,000 is individually evaluated for expected credit loss when it is probable that we will be unable to collect all amounts due according to the original contractual terms of the agreement. We select loans and leases for individual assessment on an ongoing basis using certain criteria such as payment performance, borrower reported and forecasted financial results, and other external factors when appropriate. We measure the current expected credit loss of an individually evaluated loan or lease based upon the fair value of the underlying collateral if the loan or lease is collateral-dependent or the present value of cash flows, discounted at the effective interest rate, if the loan or lease is not collateral-dependent. To the extent a loan or lease balance exceeds the estimated collectable value, a reserve or charge-off is recorded depending upon either the certainty of the estimate of loss or the fair value of the loan’s collateral if the loan is collateral-dependent. Our CECL methodology for the pooled loans component includes both quantitative and qualitative loss factors which are applied to our population of loans and leases and assessed at a pool level. The quantitative CECL model estimates credit losses by applying pool-specific probability of default ("PD") and loss given default ("LGD") rates to the expected exposure at default ("EAD") over the contractual life of loans and leases. The qualitative component considers internal and external risk factors that may not be adequately assessed in the quantitative model. The loan portfo |
Acquisitions
Acquisitions | Apr. 01, 2021 |
Business Combinations [Abstract] | |
Acquisitions | ACQUISITIONS The following assets acquired and liabilities assumed, both tangible and intangible, of the acquired entity are presented at estimated fair value as of the acquisition date: Acquisition and Acquisition and Date Acquired Date Acquired Homeowners Civic Association Financial Services Division of Services, MUFG Union Bank LLC October 8, 2021 February 1, 2021 (In thousands) Assets Acquired: Cash and due from banks $ 4,118,009 $ 37,331 Loans and leases 6,486 67,294 Premises and equipment 331 1,197 Goodwill 201,618 125,448 Core deposit and customer relationship intangibles 33,300 750 Other assets 3,149 75,977 Total assets acquired $ 4,362,893 $ 307,997 Liabilities Assumed: Noninterest-bearing demand deposits $ 1,585,810 $ 37,339 Interest-bearing deposits 2,536,965 — Total deposits 4,122,775 37,339 Borrowings — 50,210 Accrued interest payable and other liabilities 2,320 60,028 Total liabilities assumed $ 4,125,095 $ 147,577 Total consideration - paid in cash $ 237,798 $ 160,420 Acquisition of Civic On February 1, 2021, the Bank completed the acquisition of Civic in an all-cash transaction. Civic, located in Redondo Beach, California, is one of the leading lenders in the United States specializing in business-purpose residential non-owner-occupied investment properties. The acquisition of Civic advances the Bank’s strategy to diversify and expand its lending portfolio, diversify its revenue streams, and deploy excess liquidity into higher-yielding assets. Civic operates as a subsidiary of the Bank. The Civic acquisition has been accounted for under the acquisition method of accounting. We acquired $308.0 million of assets and assumed $147.6 million of liabilities upon closing of the acquisition. We made significant estimates and exercised significant judgment in estimating fair values and accounting for such acquired assets and assumed liabilities. Such fair values are preliminary estimates and are subject to adjustment for up to one year after the acquisition date or when additional information relative to the closing date fair values becomes available and such information is considered final, whichever is earlier. The application of the acquisition method of accounting resulted in the recognition of goodwill of $125.4 million. All of the recognized goodwill is expected to be deductible for tax purposes. Acquisition of HOA Business On October 8, 2021, the Bank completed the acquisition of the HOA Business in an all-cash transaction. The HOA Business is a long-time provider of specialized HOA banking services to a national base of community HOA management companies and their homeowners associations. This acquisition significantly expanded the Bank’s existing HOA banking practice, which provides lockbox, electronic receivables processing and other financial services to HOA management companies. This acquisition advanced the Bank’s strategy to expand its product offerings to its customers and to diversify its revenue and funding sources. The Bank paid cash consideration of $237.8 million, which represented the aggregate of a 5.9% deposit premium and the net book value of certain acquired assets and assumed liabilities. The HOA Business acquisition has been accounted for under the acquisition method of accounting. We acquired $4.4 billion of assets and assumed $4.1 billion of liabilities upon closing of the acquisition. We made significant estimates and exercised significant judgment in estimating fair values and accounting for such acquired assets and assumed liabilities. Such fair values are preliminary estimates and are subject to adjustment for up to one year after the acquisition date or when additional information relative to the closing date fair values becomes available and such information is considered final, whichever is earlier. The application of the acquisition method of accounting resulted in the recognition of goodwill of $201.6 million. All of the recognized goodwill is expected to be deductible for tax purposes. |
Restricted Cash Balances
Restricted Cash Balances | 12 Months Ended |
Dec. 31, 2021 | |
Restricted Cash Balances [Abstract] | |
Restricted Cash Balances | NOTE 3. RESTRICTED CASH BALANCES The Company is required to maintain reserve balances with the FRBSF. Such reserve requirements are based on a percentage of deposit liabilities and may be satisfied by cash on hand. The average reserves required to be held at the FRBSF for the year ended December 31, 2021 and 2020 were $0 and $41.3 million. As of December 31, 2021 and 2020, we pledged cash collateral for our derivative contracts of $2.0 million and $2.9 million. |
Investment Securities
Investment Securities | 12 Months Ended |
Dec. 31, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | INVESTMENT SECURITIES Securities Available-for-Sale The following table presents amortized cost, gross unrealized gains and losses, and fair values of securities available-for-sale as of the dates indicated: December 31, 2021 2020 Gross Gross Gross Gross Amortized Unrealized Unrealized Fair Amortized Unrealized Unrealized Fair Security Type Cost Gains Losses Value Cost Gains Losses Value (In thousands) Agency residential MBS $ 2,921,993 $ 8,866 $ (32,649) $ 2,898,210 $ 329,488 $ 12,483 $ (897) $ 341,074 Municipal securities 2,248,749 75,192 (7,973) 2,315,968 1,438,004 93,631 (18) 1,531,617 Agency commercial MBS 1,660,516 37,664 (9,213) 1,688,967 1,207,676 74,238 (37) 1,281,877 Agency residential CMOs 1,021,716 22,288 (5,870) 1,038,134 1,172,166 47,994 (280) 1,219,880 U.S. Treasury securities 973,555 1,641 (8,298) 966,898 4,989 313 — 5,302 Corporate debt securities 514,077 13,774 (757) 527,094 308,803 3,490 (404) 311,889 Private label commercial MBS 453,314 147 (3,244) 450,217 81,878 1,089 (10) 82,957 Collateralized loan obligations 385,410 396 (444) 385,362 136,777 23 (924) 135,876 Private label residential CMOs 265,851 1,857 (3,291) 264,417 110,891 6,076 (21) 116,946 Asset-backed securities 129,387 484 (324) 129,547 166,861 445 (760) 166,546 SBA securities 28,950 726 (32) 29,644 39,437 2,217 (27) 41,627 Total $ 10,603,518 $ 163,035 $ (72,095) $ 10,694,458 $ 4,996,970 $ 241,999 $ (3,378) $ 5,235,591 See Note 15. Fair Value Measurements for information on fair value measurements and methodology. As of December 31, 2021, securities available‑for‑sale with a fair value of $532.4 million were pledged as collateral for borrowings, public deposits and other purposes as required by various statutes and agreements. Realized Gains and Losses on Securities Available-for-Sale The following table presents the amortized cost of securities sold with related gross realized gains, gross realized losses, and net realized gains for the years indicated: Year Ended December 31, Sales of Securities Available-for-Sale 2021 2020 2019 (In thousands) Amortized cost of securities sold $ 365,733 $ 160,254 $ 1,559,415 Gross realized gains $ 1,680 $ 13,222 $ 29,584 Gross realized losses (65) (51) (4,139) Net realized gains $ 1,615 $ 13,171 $ 25,445 Unrealized Losses on Securities Available-for-Sale The following tables present the gross unrealized losses and fair values of securities available-for-sale that were in unrealized loss positions as of the dates indicated: December 31, 2021 Less Than 12 Months 12 Months or More Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Security Type Value Losses Value Losses Value Losses (In thousands) Agency residential MBS $ 2,502,536 $ (31,670) $ 57,329 $ (979) $ 2,559,865 $ (32,649) Municipal securities 505,080 (6,965) 29,726 (1,008) 534,806 (7,973) Agency commercial MBS 440,938 (5,066) 106,745 (4,147) 547,683 (9,213) Agency residential CMOs 216,445 (3,757) 67,340 (2,113) 283,785 (5,870) U.S. Treasury securities 628,767 (8,298) — — 628,767 (8,298) Corporate debt securities 32,761 (757) — — 32,761 (757) Private label commercial MBS 397,619 (3,244) — — 397,619 (3,244) Collateralized loan obligations 137,619 (374) 43,730 (70) 181,349 (444) Private label residential CMOs 201,988 (3,291) — — 201,988 (3,291) Asset-backed securities 38,742 (137) 15,762 (187) 54,504 (324) SBA securities — — 1,864 (31) 1,864 (32) Total $ 5,102,495 $ (63,559) $ 322,496 $ (8,535) $ 5,424,991 $ (72,095) December 31, 2020 Less Than 12 Months 12 Months or More Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Security Type Value Losses Value Losses Value Losses (In thousands) Agency residential MBS $ 90,722 $ (897) $ — $ — $ 90,722 $ (897) Municipal securities 5,919 (18) — — 5,919 (18) Agency commercial MBS 58,408 (37) — — 58,408 (37) Agency residential CMOs 97,863 (280) — — 97,863 (280) Corporate debt securities 87,596 (404) — — 87,596 (404) Private label commercial MBS 3,058 (10) — — 3,058 (10) Collateralized loan obligations 96,442 (729) 28,972 (195) 125,414 (924) Private label residential CMOs 788 (19) 74 (2) 862 (21) Asset-backed securities 14,636 (53) 61,031 (707) 75,667 (760) SBA securities 2,127 (27) — — 2,127 (27) Total $ 457,559 $ (2,474) $ 90,077 $ (904) $ 547,636 $ (3,378) The securities that were in an unrealized loss position at December 31, 2021, were considered impaired and required further review to determine if the unrealized losses were credit-related. We concluded their unrealized losses were a result of the level of market interest rates relative to the types of securities and pricing changes caused by shifting supply and demand dynamics and not a result of downgraded credit ratings or other indicators of deterioration of the underlying issuers' ability to repay. We also considered the seniority of the tranches and U.S. government agency guarantees, if any, to assess whether an unrealized loss was credit-related. Accordingly, we determined the unrealized losses were not credit-related and recognized the unrealized losses in "other comprehensive income" in stockholders' equity. Although we periodically sell securities for portfolio management purposes, we do not foresee having to sell any impaired securities strictly for liquidity needs and believe that it is more likely than not we would not be required to sell any impaired securities before recovery of their amortized cost. Contractual Maturities of Securities Available-for-Sale The following table presents the contractual maturities of our available-for-sale securities portfolio based on amortized cost and carrying value as of the date indicated. December 31, 2021 Amortized Fair Maturity Cost Value (In thousands) Due in one year or less $ 54,301 $ 54,685 Due after one year through five years 635,456 662,377 Due after five years through ten years 3,526,824 3,544,687 Due after ten years 6,386,937 6,432,709 Total securities available-for-sale $ 10,603,518 $ 10,694,458 MBS and CMOs have contractual maturity dates, but require periodic payments based upon scheduled amortization terms. Actual principal collections on these securities usually occur more rapidly than the scheduled amortization terms because of prepayments made by obligors of the underlying loan collateral. FHLB Stock In connection with outstanding FHLB advances, the Bank owned FHLB stock carried at cost of $17.3 million at December 31, 2021 and 2020. At December 31, 2021 and 2020, the Bank was required to own FHLB stock equal to a percentage of outstanding FHLB advances. We evaluated the carrying value of our FHLB stock investment at December 31, 2021 and determined that it was not impaired. Our evaluation considered the long-term nature of the investment, the current financial and liquidity position of the FHLB, repurchase activity of excess stock by the FHLB at its carrying value, the return on the investment from recurring dividends, and our intent and ability to hold this investment for a period of time sufficient to recover our recorded investment. Interest Income on Investment Securities The following table presents the composition of our interest income on investment securities for the years indicated: Year Ended December 31, 2021 2020 2019 (In thousands) Taxable interest $ 118,561 $ 80,426 $ 85,968 Non-taxable interest 33,916 24,771 27,955 Dividend income 991 1,573 1,646 Total interest income on investment securities $ 153,468 $ 106,770 $ 115,569 |
Loans and Leases
Loans and Leases | 12 Months Ended |
Dec. 31, 2021 | |
Receivables [Abstract] | |
Loans and Leases | NOTE 5. LOANS AND LEASES Loans and Leases Held for Investment The following table summarizes the composition of our loans and leases held for investment as of the dates indicated: December 31, 2021 2020 (In thousands) Real estate mortgage $ 11,189,278 $ 7,905,193 Real estate construction and land 3,491,340 3,393,145 Commercial 7,888,068 7,534,801 Consumer 457,622 320,218 Total gross loans and leases held for investment 23,026,308 19,153,357 Deferred fees, net (84,760) (69,980) Total loans and leases held for investment, net of deferred fees 22,941,548 19,083,377 Allowance for loan and lease losses (200,564) (348,181) Total loans and leases held for investment, net (1) $ 22,740,984 $ 18,735,196 ____________________ (1) Excludes accrued interest receivable of $80.3 million and $79.7 million at December 31, 2021 and December 31, 2019, respectively, which is recorded in "Other assets" on the consolidated balance sheets. The following tables present an aging analysis of our loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated: December 31, 2021 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 5,307 $ 2,236 $ 7,543 $ 3,754,756 $ 3,762,299 Income producing and other residential 40,505 9,666 50,171 7,366,250 7,416,421 Total real estate mortgage 45,812 11,902 57,714 11,121,006 11,178,720 Real estate construction and land: Commercial — — — 832,591 832,591 Residential 7,271 2,223 9,494 2,595,042 2,604,536 Total real estate construction and land 7,271 2,223 9,494 3,427,633 3,437,127 Commercial: Asset-based — 464 464 4,075,013 4,075,477 Venture capital — — — 2,320,593 2,320,593 Other commercial 955 3,601 4,556 1,467,425 1,471,981 Total commercial 955 4,065 5,020 7,863,031 7,868,051 Consumer 1,004 276 1,280 456,370 457,650 Total $ 55,042 $ 18,466 $ 73,508 $ 22,868,040 $ 22,941,548 December 31, 2020 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 6,750 $ 29,145 $ 35,895 $ 4,060,776 $ 4,096,671 Income producing and other residential 600 373 973 3,802,292 3,803,265 Total real estate mortgage 7,350 29,518 36,868 7,863,068 7,899,936 Real estate construction and land: Commercial — — — 1,117,121 1,117,121 Residential 759 — 759 2,242,401 2,243,160 Total real estate construction and land 759 — 759 3,359,522 3,360,281 Commercial: Asset-based — 2,128 2,128 3,427,155 3,429,283 Venture capital 540 — 540 1,697,968 1,698,508 Other commercial 2,323 4,766 7,089 2,368,025 2,375,114 Total commercial 2,863 6,894 9,757 7,493,148 7,502,905 Consumer 1,260 111 1,371 318,884 320,255 Total $ 12,232 $ 36,523 $ 48,755 $ 19,034,622 $ 19,083,377 The following table presents our nonaccrual and performing loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated: December 31, 2021 2020 Nonaccrual Performing Total Nonaccrual Performing Total (In thousands) Real estate mortgage: Commercial $ 27,540 $ 3,734,759 $ 3,762,299 $ 43,731 $ 4,052,940 $ 4,096,671 Income producing and other residential 12,292 7,404,129 7,416,421 1,826 3,801,439 3,803,265 Total real estate mortgage 39,832 11,138,888 11,178,720 45,557 7,854,379 7,899,936 Real estate construction and land: Commercial — 832,591 832,591 315 1,116,806 1,117,121 Residential 4,715 2,599,821 2,604,536 — 2,243,160 2,243,160 Total real estate construction and land 4,715 3,432,412 3,437,127 315 3,359,966 3,360,281 Commercial: Asset-based 1,464 4,074,013 4,075,477 2,679 3,426,604 3,429,283 Venture capital 2,799 2,317,794 2,320,593 1,980 1,696,528 1,698,508 Other commercial 11,950 1,460,031 1,471,981 40,243 2,334,871 2,375,114 Total commercial 16,213 7,851,838 7,868,051 44,902 7,458,003 7,502,905 Consumer 414 457,236 457,650 389 319,866 320,255 Total $ 61,174 $ 22,880,374 $ 22,941,548 $ 91,163 $ 18,992,214 $ 19,083,377 The amount of interest income that would have been recorded on nonaccrual loans and leases at December 31, 2021 and 2020 had such loans and leases been current in accordance with their original terms was $4.9 million and $7.5 million for 2021 and 2020. At December 31, 2021, nonaccrual loans and leases included $18.5 million of loans and leases 90 or more days past due, $6.3 million of loans 30 to 89 days past due and $36.4 million of current loans that were placed on nonaccrual status based on management’s judgment regarding their collectability. At December 31, 2020, nonaccrual loans and leases included $36.5 million of loans and leases 90 or more days past due, $3.4 million of loans 30 to 89 days past due and $51.3 million of current loans that were placed on nonaccrual status based on management’s judgment regarding their collectability. As of December 31, 2021, our three largest loan relationships on nonaccrual status had an aggregate carrying value of $14.2 million and represented 23% of total nonaccrual loans and leases. The following tables present the credit risk rating categories for loans and leases held for investment by loan portfolio segment and class as of the dates indicated. Classified loans and leases are those with a credit risk rating of either substandard or doubtful. December 31, 2021 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 62,206 $ 191,809 $ 3,508,284 $ 3,762,299 Income producing and other residential 17,700 19,848 7,378,873 7,416,421 Total real estate mortgage 79,906 211,657 10,887,157 11,178,720 Real estate construction and land: Commercial — 67,727 764,864 832,591 Residential 4,715 1,720 2,598,101 2,604,536 Total real estate construction and land 4,715 69,447 3,362,965 3,437,127 Commercial: Asset-based 4,591 78,305 3,992,581 4,075,477 Venture capital 4,794 14,833 2,300,966 2,320,593 Other commercial 21,659 15,528 1,434,794 1,471,981 Total commercial 31,044 108,666 7,728,341 7,868,051 Consumer 439 1,841 455,370 457,650 Total $ 116,104 $ 391,611 $ 22,433,833 $ 22,941,548 December 31, 2020 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 91,543 $ 262,462 $ 3,742,666 $ 4,096,671 Income producing and other residential 8,767 61,384 3,733,114 3,803,265 Total real estate mortgage 100,310 323,846 7,475,780 7,899,936 Real estate construction and land: Commercial 42,558 107,592 966,971 1,117,121 Residential — 759 2,242,401 2,243,160 Total real estate construction and land 42,558 108,351 3,209,372 3,360,281 Commercial: Asset-based 27,867 153,301 3,248,115 3,429,283 Venture capital 6,508 118,125 1,573,875 1,698,508 Other commercial 87,557 14,930 2,272,627 2,375,114 Total commercial 121,932 286,356 7,094,617 7,502,905 Consumer 462 2,732 317,061 320,255 Total $ 265,262 $ 721,285 $ 18,096,830 $ 19,083,377 The following table presents our nonaccrual loans and leases by loan portfolio segment and class and by with and without an allowance recorded as of the date indicated and interest income recognized on nonaccrual loans and leases for the year indicated: At and For the Year Ended At and For the Year Ended December 31, 2021 December 31, 2020 Nonaccrual Interest Nonaccrual Interest Recorded Income Recorded Income Investment Recognized Investment Recognized (In thousands) With An Allowance Recorded: Real estate mortgage: Commercial $ 70 $ — $ 78 $ — Income producing and other residential 3,555 — 1,260 — Real estate construction and land: Commercial — — — — Residential 616 — — — Commercial: Asset based 1,000 — 2,128 — Venture capital 2,799 — 1,980 — Other commercial 1,081 — 2,438 — Consumer 19 — 389 — With No Related Allowance Recorded: Real estate mortgage: Commercial $ 27,470 $ 596 $ 43,653 $ 524 Income producing and other residential 8,737 — 566 — Real estate construction and land: Commercial — — 315 — Residential 4,099 — — — Commercial: Asset based 464 — 551 — Venture capital — — — — Other commercial 10,869 169 37,805 5,052 Consumer 395 — — — Total Loans and Leases With and Without an Allowance Recorded: Real estate mortgage $ 39,832 $ 596 $ 45,557 $ 524 Real estate construction and land 4,715 — 315 — Commercial 16,213 169 44,902 5,052 Consumer 414 — 389 — Total $ 61,174 $ 765 $ 91,163 $ 5,576 The following tables present our loans held for investment by loan portfolio segment and class, by credit quality indicator (internal risk ratings), and by year of origination (vintage year) as of the date indicated: Revolving Converted Amortized Cost Basis Term Loans by Origination Year Revolving to Term December 31, 2021 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Real Estate Mortgage: Commercial Internal risk rating: 1-2 High pass $ 561 $ 9,148 $ 32,304 $ 8,289 $ 6,248 $ 33,493 $ 3 $ — $ 90,046 3-4 Pass 499,626 531,989 321,728 578,436 489,727 932,950 51,805 11,977 3,418,238 5 Special mention — 4,811 63,381 76,372 6,533 40,712 — — 191,809 6-8 Classified — 488 17,037 5,340 6,278 33,063 — — 62,206 Total $ 500,187 $ 546,436 $ 434,450 $ 668,437 $ 508,786 $ 1,040,218 $ 51,808 $ 11,977 $ 3,762,299 Current YTD period: Gross charge-offs $ — $ — $ 189 $ 168 $ 344 $ 264 $ — $ — $ 965 Gross recoveries — — — — (8) (6,073) — — (6,081) Net $ — $ — $ 189 $ 168 $ 336 $ (5,809) $ — $ — $ (5,116) Real Estate Mortgage: Income Producing and Other Residential Internal risk rating: 1-2 High pass $ 95,016 $ 29,339 $ 57,874 $ 47,688 $ 11,776 $ 16,703 $ 28,115 $ — $ 286,511 3-4 Pass 4,405,055 623,207 573,718 616,515 547,531 234,525 91,655 156 7,092,362 5 Special mention 2,871 3,810 13,007 — — — 160 — 19,848 6-8 Classified 5,161 5,217 — 3,323 304 3,424 — 271 17,700 Total $ 4,508,103 $ 661,573 $ 644,599 $ 667,526 $ 559,611 $ 254,652 $ 119,930 $ 427 $ 7,416,421 Current YTD period: Gross charge-offs $ 28 $ 80 $ — $ — $ — $ 55 $ — $ — $ 163 Gross recoveries (28) — — — — (357) — (301) (686) Net $ — $ 80 $ — $ — $ — $ (302) $ — $ (301) $ (523) Real Estate Construction and Land: Commercial Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 96,108 96,448 386,832 152,444 720 14,122 18,190 — 764,864 5 Special mention — — — — 67,727 — — — 67,727 6-8 Classified — — — — — — — — — Total $ 96,108 $ 96,448 $ 386,832 $ 152,444 $ 68,447 $ 14,122 $ 18,190 $ — $ 832,591 Current YTD period: Gross charge-offs $ — $ — $ — $ 775 $ — $ — $ — $ — $ 775 Gross recoveries — — — — — — — — — Net $ — $ — $ — $ 775 $ — $ — $ — $ — $ 775 Revolving Converted Amortized Cost Basis Term Loans by Origination Year Revolving to Term December 31, 2021 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Real Estate Construction and Land: Residential Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 849,188 672,864 851,127 163,950 17,526 3,970 28,804 10,672 2,598,101 5 Special mention 276 1,185 — — 259 — — — 1,720 6-8 Classified 849 3,278 588 — — — — — 4,715 Total $ 850,313 $ 677,327 $ 851,715 $ 163,950 $ 17,785 $ 3,970 $ 28,804 $ 10,672 $ 2,604,536 Current YTD period: Gross charge-offs $ 7 $ — $ — $ — $ — $ — $ — $ — $ 7 Gross recoveries — — — — — — — — — Net $ 7 $ — $ — $ — $ — $ — $ — $ — $ 7 Commercial: Asset-Based Internal risk rating: 1-2 High pass $ 138,836 $ 72,725 $ 178,291 $ 123,947 $ 71,940 $ 188,411 $ 706,656 $ 50,495 $ 1,531,301 3-4 Pass 242,209 71,930 59,748 45,375 8,350 34,833 1,992,677 6,158 2,461,280 5 Special mention — — 48,796 13,138 — — 12,393 3,978 78,305 6-8 Classified — — — — — 464 4,027 100 4,591 Total $ 381,045 $ 144,655 $ 286,835 $ 182,460 $ 80,290 $ 223,708 $ 2,715,753 $ 60,731 $ 4,075,477 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ 232 $ 232 Gross recoveries — — — — — (691) (28) — (719) Net $ — $ — $ — $ — $ — $ (691) $ (28) $ 232 $ (487) Commercial: Venture Capital Internal risk rating: 1-2 High pass (1) $ — $ 1,999 $ — $ — $ (4) $ 14 $ 228,820 $ — $ 230,829 3-4 Pass 229,567 58,283 46,007 7,241 1,614 4,166 1,715,057 8,202 2,070,137 5 Special mention 8,980 2,778 499 — — 2,593 (17) — 14,833 6-8 Classified 500 — — 2,000 — — (6) 2,300 4,794 Total $ 239,047 $ 63,060 $ 46,506 $ 9,241 $ 1,610 $ 6,773 $ 1,943,854 $ 10,502 $ 2,320,593 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ 620 $ — $ — $ 620 Gross recoveries — — (127) (37) (158) (82) — — (404) Net $ — $ — $ (127) $ (37) $ (158) $ 538 $ — $ — $ 216 ____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees. Revolving Converted Amortized Cost Basis Term Loans by Origination Year Revolving to Term December 31, 2021 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Commercial: Other Commercial Internal risk rating: 1-2 High pass (1) $ 134,825 $ 22,556 $ 261 $ 4 $ 246 $ (50) $ 18,206 $ 693 $ 176,741 3-4 Pass 286,281 73,328 77,487 67,591 46,939 89,408 607,197 9,822 1,258,053 5 Special mention — 291 1 2,088 115 11,911 1,061 61 15,528 6-8 Classified 53 1 395 (3) 223 4,212 15,731 1,047 21,659 Total $ 421,159 $ 96,176 $ 78,144 $ 69,680 $ 47,523 $ 105,481 $ 642,195 $ 11,623 $ 1,471,981 Current YTD period: Gross charge-offs $ 1,992 $ — $ 122 $ 47 $ 139 $ 797 $ 985 $ 2,364 $ 6,446 Gross recoveries — — (42) — (268) (4,076) (57) (145) (4,588) Net $ 1,992 $ — $ 80 $ 47 $ (129) $ (3,279) $ 928 $ 2,219 $ 1,858 Consumer Internal risk rating: 1-2 High pass $ 36 $ 11 $ — $ 5 $ 4 $ — $ 646 $ — $ 702 3-4 Pass 261,678 24,195 73,860 35,623 21,707 31,916 5,689 — 454,668 5 Special mention 797 363 496 — 50 135 — — 1,841 6-8 Classified — 22 123 111 21 143 — 19 439 Total $ 262,511 $ 24,591 $ 74,479 $ 35,739 $ 21,782 $ 32,194 $ 6,335 $ 19 $ 457,650 Current YTD period: Gross charge-offs $ — $ 185 $ 654 $ 156 $ 270 $ 188 $ — $ 54 $ 1,507 Gross recoveries — — — (27) (13) (79) (1) — (120) Net $ — $ 185 $ 654 $ 129 $ 257 $ 109 $ (1) $ 54 $ 1,387 Total Loans and Leases Internal risk rating: 1-2 High pass $ 369,274 $ 135,778 $ 268,730 $ 179,933 $ 90,210 $ 238,571 $ 982,446 $ 51,188 $ 2,316,130 3-4 Pass 6,869,712 2,152,244 2,390,507 1,667,175 1,134,114 1,345,890 4,511,074 46,987 20,117,703 5 Special mention 12,924 13,238 126,180 91,598 74,684 55,351 13,597 4,039 391,611 6-8 Classified 6,563 9,006 18,143 10,771 6,826 41,306 19,752 3,737 116,104 Total $ 7,258,473 $ 2,310,266 $ 2,803,560 $ 1,949,477 $ 1,305,834 $ 1,681,118 $ 5,526,869 $ 105,951 $ 22,941,548 Current YTD period: Gross charge-offs $ 2,027 $ 265 $ 965 $ 1,146 $ 753 $ 1,924 $ 985 $ 2,650 $ 10,715 Gross recoveries (28) — (169) (64) (447) (11,358) (86) (446) (12,598) Net $ 1,999 $ 265 $ 796 $ 1,082 $ 306 $ (9,434) $ 899 $ 2,204 $ (1,883) ____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees. Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term December 31, 2020 2020 2019 2018 2017 2016 Prior Loans Loans Total (In thousands) Real Estate Mortgage: Commercial Internal risk rating: 1-2 High pass $ — $ 28,304 $ 4,848 $ 13,184 $ 12,241 $ 41,222 $ — $ — $ 99,799 3-4 Pass 554,143 413,785 574,497 725,503 405,367 893,008 62,586 13,978 3,642,867 5 Special mention 2,622 78,484 99,397 14,625 9,967 57,367 — — 262,462 6-8 Classified 504 1,255 7,489 7,869 16,797 57,629 — — 91,543 Total $ 557,269 $ 521,828 $ 686,231 $ 761,181 $ 444,372 $ 1,049,226 $ 62,586 $ 13,978 $ 4,096,671 Current YTD period: Gross charge-offs $ — $ — $ 154 $ 3,330 $ — $ 6,694 $ — $ — $ 10,178 Gross recoveries — — — (9) — (280) — — (289) Net $ — $ — $ 154 $ 3,321 $ — $ 6,414 $ — $ — $ 9,889 Real Estate Mortgage: Income Producing and Other Residential Internal risk rating: 1-2 High pass $ 58,714 $ 55,826 $ 28,831 $ 33,017 $ 18,991 $ 9,265 $ — $ — $ 204,644 3-4 Pass 491,504 850,978 1,067,109 577,906 238,499 187,959 113,987 528 3,528,470 5 Special mention 12,307 4,207 42,455 1,554 — — 861 — 61,384 6-8 Classified — — 2,862 — — 4,950 118 837 8,767 Total $ 562,525 $ 911,011 $ 1,141,257 $ 612,477 $ 257,490 $ 202,174 $ 114,966 $ 1,365 $ 3,803,265 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ 51 $ — $ 457 $ 508 Gross recoveries — — — — — (327) (1) — (328) Net $ — $ — $ — $ — $ — $ (276) $ (1) $ 457 $ 180 Real Estate Construction and Land: Commercial Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 66,114 369,588 357,295 118,586 36,027 11,778 7,583 — 966,971 5 Special mention — — 40,396 67,196 — — — — 107,592 6-8 Classified — — — — 42,243 315 — — 42,558 Total $ 66,114 $ 369,588 $ 397,691 $ 185,782 $ 78,270 $ 12,093 $ 7,583 $ — $ 1,117,121 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Gross recoveries — — — — — — — — — Net $ — $ — $ — $ — $ — $ — $ — $ — $ — Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term December 31, 2020 2020 2019 2018 2017 2016 Prior Loans Loans Total (In thousands) Real Estate Construction and Land: Residential Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 345,134 670,894 849,819 285,072 28,725 688 9,034 53,035 2,242,401 5 Special mention 759 — — — — — — — 759 6-8 Classified — — — — — — — — — Total $ 345,893 $ 670,894 $ 849,819 $ 285,072 $ 28,725 $ 688 $ 9,034 $ 53,035 $ 2,243,160 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Gross recoveries — — — — — (21) — — (21) Net $ — $ — $ — $ — $ — $ (21) $ — $ — $ (21) Commercial: Asset-Based Internal risk rating: 1-2 High pass $ 116,247 $ 173,457 $ 111,630 $ 69,244 $ 121,838 $ 88,201 $ 275,093 $ 72,017 $ 1,027,727 3-4 Pass 155,221 84,798 85,539 42,928 8,227 46,663 1,750,934 46,078 2,220,388 5 Special mention — 59,822 41,789 9,022 14,274 482 23,257 4,655 153,301 6-8 Classified — — — — 19,417 551 8,799 (900) 27,867 Total $ 271,468 $ 318,077 $ 238,958 $ 121,194 $ 163,756 $ 135,897 $ 2,058,083 $ 121,850 $ 3,429,283 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ 11,817 $ — $ — $ 11,817 Gross recoveries (52) — — — — (420) (236) — (708) Net $ (52) $ — $ — $ — $ — $ 11,397 $ (236) $ — $ 11,109 Commercial: Venture Capital Internal risk rating: 1-2 High pass $ 1,999 $ 4,797 $ — $ (4) $ (4) $ 52 $ 167,296 $ — $ 174,136 3-4 Pass 48,132 103,437 37,818 7,789 29,738 5,494 1,161,606 5,725 1,399,739 5 Special mention 21,645 42,499 2,202 — — — 46,765 5,014 118,125 6-8 Classified — (1,710) 4,000 — — 3,690 528 — 6,508 Total $ 71,776 $ 149,023 $ 44,020 $ 7,785 $ 29,734 $ 9,236 $ 1,376,195 $ 10,739 $ 1,698,508 Current YTD period: Gross charge-offs $ — $ — $ 6,533 $ — $ (8) $ 150 $ 144 $ — $ 6,819 Gross recoveries — — (478) (176) (154) (3) (450) — (1,261) Net $ — $ — $ 6,055 $ (176) $ (162) $ 147 $ (306) $ — $ 5,558 Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term December 31, 2020 2020 2019 2018 2017 2016 Prior Loans Loans Total (In thousands) Commercial: Other Commercial Internal risk rating: 1-2 High pass $ 1,057,405 $ 380 $ 4 $ 366 $ 69 $ 1,350 $ 74,206 $ 80 $ 1,133,860 3-4 Pass 88,875 95,110 99,434 77,557 23,305 89,865 657,088 7,533 1,138,767 5 Special mention — 40 2,145 564 484 10,440 335 922 14,930 6-8 Classified 2 564 80 230 755 3,813 75,046 7,067 87,557 Total $ 1,146,282 $ 96,094 $ 101,663 $ 78,717 $ 24,613 $ 105,468 $ 806,675 $ 15,602 $ 2,375,114 Current YTD period: Gross charge-offs $ — $ — $ — $ 506 $ 239 $ 33,521 $ 27,332 $ 1,871 $ 63,469 Gross recoveries — (18) (8) (34) (226) (3,155) (100) (19) (3,560) Net $ — $ (18) $ (8) $ 472 $ 13 $ 30,366 $ 27,232 $ 1,852 $ 59,909 Consumer Internal risk rating: 1-2 High pass $ 15 $ — $ 8 $ 14 $ — $ — $ 509 $ — $ 546 3-4 Pass 40,585 110,993 62,833 39,036 41,623 12,831 8,536 78 316,515 5 Special mention 45 137 1,628 261 422 239 — — 2,732 6-8 Classified — 35 — 36 56 306 2 27 462 Total $ 40,645 $ 111,165 $ 64,469 $ 39,347 $ 42,101 $ 13,376 $ 9,047 $ 105 $ 320,255 Current YTD period: Gross charge-offs $ — $ 97 $ 86 $ 177 $ 363 $ 44 $ 22 $ 9 $ 798 Gross recoveries — — (1) (10) (16) (174) — — (201) Net $ — $ 97 $ 85 $ 167 $ 347 $ (130) $ 22 $ 9 $ 597 Total Loans and Leases Internal risk rating: 1-2 High pass $ 1,234,380 $ 262,764 $ 145,321 $ 115,821 $ 153,135 $ 140,090 $ 517,104 $ 72,097 $ 2,640,712 3-4 Pass 1,789,708 2,699,583 3,134,344 1,874,377 811,511 1,248,286 3,771,354 126,955 15,456,118 5 Special mention 37,378 185,189 230,012 93,222 25,147 68,528 71,218 10,591 721,285 6-8 Classified 506 144 14,431 8,135 79,268 71,254 84,493 7,031 265,262 Total $ 3,061,972 $ 3,147,680 $ 3,524,108 $ 2,091,555 $ 1,069,061 $ 1,528,158 $ 4,444,169 $ 216,674 $ 19,083,377 Current YTD period: Gross charge-offs $ — $ 97 $ 6,773 $ 4,013 $ 594 $ 52,277 $ 27,498 $ 2,337 $ 93,589 Gross recoveries (52) (18) (487) (229) (396) (4,380) (787) (19) (6,368) Net $ (52) $ 79 $ 6,286 $ 3,784 $ 198 $ 47,897 $ 26,711 $ 2,318 $ 87,221 ______________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees. TDRs are a result of rate reductions, term extensions, fee concessions, transfers to foreclosed assets, discounted loan payoffs, and debt forgiveness, or a combination thereof. Between March 2020 and December 2021, the Company granted various commercial and consumer loan modifications to provide borrowers relief from the economic impacts of COVID-19. In accordance with the CARES Act, the Company elected to not apply TDR classification to COVID-19 related loan modifications that met all of the requisite criteria as stipulated in the CARES Act. The following table presents our troubled debt restructurings of loans held for investment by loan portfolio segment and class for the years indicated: Troubled Debt Restructurings Troubled Debt Restructurings That Subsequently Defaulted (1) Pre-Modification Post-Modification Number Outstanding Outstanding Number of Recorded Recorded of Recorded Loans Investment Investment Loans Investment (1) (Dollars In thousands) Year Ended December 31, 2021 Real estate mortgage: Commercial 2 $ 647 $ — — $ — Income producing and other residential 6 802 802 — — Real estate construction and land: Residential 1 208 208 — — Commercial: Asset-based 2 1,987 1,987 1 464 Venture capital 5 4,502 2,529 — — Other commercial 40 48,760 30,786 3 2,066 Consumer 1 20 20 — — Total 57 $ 56,926 $ 36,332 4 $ 2,530 Year Ended December 31, 2020 Real estate mortgage: Commercial 12 $ 17,201 $ 4,222 1 $ 412 Income producing and other residential 9 1,816 1,816 — — Commercial: Asset-based 8 17,008 1,741 — — Venture capital 2 2,047 2,047 — — Other commercial 37 41,906 27,403 1 92 Consumer 3 212 212 — — Total 71 $ 80,190 $ 37,441 2 $ 504 Year Ended December 31, 2019 Real estate mortgage: Commercial 3 $ 121 $ — — $ — Income producing and other residential 9 1,591 1,591 1 254 Commercial: Asset-based 5 3,082 3,082 — — Venture capital 14 19,017 19,155 — — Other commercial 20 3,835 3,835 4 154 Total 51 $ 27,646 $ 27,663 5 $ 408 _________________________ (1) The population of defaulted TDRs for the period indicated includes only those loans restructured during the preceding 12-month period. For example, for the year ended December 31, 2021, the population of defaulted TDRs includes only those loans restructured after December 31, 2020. The table excludes defaulted TDRs in those classes for which the recorded investment was zero at the end of the period. At December 31, 2021 and 2020, we had unfunded commitments related to TDRs of $2.0 million and $0.9 million. Leases Receivable We provide equipment financing to our customers primarily with operating and direct financing leases. For direct financing leases, lease receivables are recorded on the balance sheet but the leased equipment is not, although we generally retain legal title to the leased equipment until the end of each lease. Direct financing leases are stated at the net amount of minimum lease payments receivable, plus any unguaranteed residual value, less the amount of unearned income and net acquisition discount at the reporting date. Direct lease origination costs are amortized using the effective interest method over the life of the leases. Direct financing leases are subject to our accounting for allowance for loan and lease losses. See Note 10. Leases for information regarding operating leases where we are the lessor. The following table provides the components of leases receivable income for the period indicated: Year Ended December 31, 2021 2020 2019 (In thousands) Component of leases receivable income: Interest income on net investments in leases $ 8,976 $ 8,049 $ 11,061 The following table presents the components of leases receivable as of the date indicated: December 31, 2021 2020 (In thousands) Net investment in direct financing leases: Lease payments receivable $ 190,025 $ 158,740 Unguaranteed residual assets 21,487 19,303 Deferred costs and other 1,373 996 Aggregate net investment in leases $ 212,885 $ 179,039 The following table presents maturities of leases receivable as of the date indicated: December 31, 2021 (In thousands) Year Ending December 31, 2022 $ 54,831 2023 46,499 2024 42,154 2025 25,653 2026 17,829 Thereafter 26,423 Total undiscounted cash flows 213,389 Less: Unearned income (23,364) Present value of lease payments $ 190,025 Allowance for Loan and Lease Losses The following tables present a summary of the activity in the allowance for loan and lease losses on loans and leases held for investment by loan portfolio segment for the years indicated: Year Ended December 31, 2021 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of year $ 138,342 $ 78,356 $ 126,403 $ 5,080 $ 348,181 Charge-offs (1,128) (782) (7,298) (1,507) (10,715) Recoveries 6,767 — 5,711 120 12,598 Net recoveries (charge-offs) 5,639 (782) (1,587) (1,387) 1,883 Provision (45,928) (32,495) (76,098) 5,021 (149,500) Balance, end of year $ 98,053 $ 45,079 $ 48,718 $ 8,714 $ 200,564 Ending Allowance by Evaluation Methodology: Individually evaluated $ 161 $ — $ 2,433 $ — $ 2,594 Collectively evaluated $ 97,892 $ 45,079 $ 46,285 $ 8,714 $ 197,970 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 37,030 $ 10,043 $ 31,317 $ — $ 78,390 Collectively evaluated 11,141,690 3,427,084 7,836,734 457,650 22,863,158 Ending balance $ 11,178,720 $ 3,437,127 $ 7,868,051 $ 457,650 $ 22,941,548 Year Ended December 31, 2020 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of year $ 44,575 $ 30,544 $ 61,528 $ 2,138 $ 138,785 Cumulative effect of change in accounting principle - CECL 5,308 (8,592) 6,860 41 3,617 Balance, January 1, 2020 49,883 21,952 68,388 2,179 142,402 Charge-offs (10,686) — (82,105) (798) (93,589) Recoveries 617 21 5,529 201 6,368 Net (charge-offs) recoveries (10,069) 21 (76,576) (597) (87,221) Provision 98,528 56,383 134,591 3,498 293,000 Balance, end of year $ 138,342 $ 78,356 $ 126,403 $ 5,080 $ 348,181 Ending Allowance by Evaluation Methodology: Individually evaluated $ 237 $ — $ 3,422 $ — $ 3,659 Collectively evaluated $ 138,105 $ 78,356 $ 122,981 $ 5,080 $ 344,522 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 50,139 $ 1,766 $ 81,171 $ — $ 133,076 Collectively evaluated 7,849,797 3,358,515 7,421,734 320,255 18,950,301 Ending balance $ 7,899,936 $ 3,360,281 $ 7,502,905 $ 320,255 $ 19,083,377 The allowance for loan and lease losses decreased by $147.6 million in 2021 due primarily to a provision benefit for loan and lease losses of $149.5 million. The lower provision for loan and lease losses in 2021 was primarily a re sult of improvement in both macroeconomic forecast variables and loan portfolio credit quality metrics. We actively participated in both rounds of the Paycheck Protection Program ("PPP"), under the provisions of the CARES Act during 2020 and 2021, originating $1.65 billion of such loans. As of December 31, 2021, PPP loans totaled $156.7 million, net of deferred fees. The loans have two or five year terms, ar e fully guaranteed by the SBA, and do not carry an allowance. A loan is considered collateral-dependent, and is individually evaluated for reserve purposes, when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. The following table summarizes collateral-dependent loans held for investment by collateral type as of the following date: December 31, 2021 2020 Real Business Real Business Property Assets Total Property Assets Total (In thousands) (In thousands) Real estate mortgage $ 30,817 $ — $ 30,817 $ 43,656 $ — $ 43,656 Real estate construction and land 10,421 — 10,421 1,766 — 1,766 Commercial — 7,586 7,586 — 31,100 31,100 Total $ 41,238 $ 7,586 $ 48,824 $ 45,422 $ 31,100 $ 76,522 Allowance for Credit Losses The allowance for credit losses is the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments. The reserve for unfunded loan commitments is included within "Accrued interest payable and other liabilities" on the consolidated balance sheets. The following tables present a summary of the activity in the allowance for loan and lease losses and reserve for unfunded loan commitments for the years indicated: Year Ended December 31, 2021 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of year $ 348,181 $ 85,571 $ 433,752 Charge-offs (10,715) — (10,715) Recoveries 12,598 — 12,598 Net recoveries 1,883 — 1,883 Provision (149,500) (12,500) (162,000) Balance, end of year $ 200,564 $ 73,071 $ 273,635 Year Ended December 31, 2020 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of year $ 138,785 $ 35,861 $ 174,646 Cumulative effect of change in accounting principle - CECL 3,617 3,710 7,327 Balance, January 1, 2020 142,402 39,571 181,973 Charge-offs (93,589) — (93,589) Recoveries 6,368 — 6,368 Net charge-offs (87,221) — (87,221) Provision 293,000 46,000 339,000 Balance, end of year $ 348,181 $ 85,571 $ 433,752 |
Foreclosed Assets
Foreclosed Assets | 12 Months Ended |
Dec. 31, 2021 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract] | |
Foreclosed Assets | NOTE 6. FORECLOSED ASSETS, NET The following table summarizes foreclosed assets as of the dates indicated: December 31, Property Type 2021 2020 (In thousands) Commercial real estate $ 12,594 $ 12,979 Construction and land development — 219 Total other real estate owned, net 12,594 13,198 Other foreclosed assets 249 829 Total foreclosed assets, net $ 12,843 $ 14,027 The following table presents the changes in foreclosed assets, net of the valuation allowance, for the years indicated: Year Ended December 31, Foreclosed Assets 2021 2020 2019 (In thousands) Balance, beginning of year $ 14,027 $ 440 $ 5,299 Transfers to foreclosed assets from loans 1,062 14,755 120 Provision for losses (14) (267) (78) Reductions related to sales (2,232) (901) (4,901) Balance, end of year $ 12,843 $ 14,027 $ 440 The following table presents the changes in the foreclosed assets valuation allowance for the years indicated: Year Ended December 31, Foreclosed Assets Valuation Allowance 2021 2020 2019 (In thousands) Balance, beginning of year $ 354 $ 87 $ 88 Provision for losses 14 267 78 Reductions related to sales (176) — (79) Balance, end of year $ 192 $ 354 $ 87 |
Premises and Equipment, Net
Premises and Equipment, Net | 12 Months Ended |
Dec. 31, 2021 | |
Premises and Equipment, Net [Abstract] | |
Premises and Equipment, Net | NOTE 7. PREMISES AND EQUIPMENT, NET The following table presents the components of premises and equipment as of the dates indicated: December 31, 2021 2020 (In thousands) Land $ 1,243 $ 1,243 Buildings 9,488 8,459 Furniture, fixtures and equipment 50,509 50,892 Leasehold improvements 66,143 60,622 Other assets 6,882 — Premises and equipment, gross 134,265 121,216 Less: accumulated depreciation and amortization (87,525) (81,982) Premises and equipment, net $ 46,740 $ 39,234 Depreciation and amortization expense was $11.1 million , $11.5 million, and $10.5 million for the years ended December 31, 2021, 2020, and 2019. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets, Net | NOTE 8. GOODWILL AND OTHER INTANGIBLE ASSETS, NET The unprecedented decline in economic conditions triggered by the COVID-19 pandemic caused a significant decline in stock market valuations in March 2020, including our stock price. These triggering events indicated that goodwill related to our single reporting unit may be impaired and resulted in us performing a goodwill impairment assessment in the first quarter of 2020. We applied the market approach using an average share price of the Company's stock and a control premium to determine the fair value of the reporting unit. The control premium was based upon management judgment using historical information of control premiums for completed bank acquisitions. As a result, we recorded a goodwill impairment charge of $1.47 billion in the first quarter of 2020 as the estimated fair value of equity was less than book value. This was a non-cash charge to earnings and had no impact on our regulatory capital ratios, cash flows, or liquidity position. In performing our annual goodwill assessment in the fourth quarter of 2020, we considered relevant events and circumstances that may affect the fair value or carrying amount of our reporting unit. The events and circumstances we considered included macroeconomic conditions, industry conditions, and our financial performance. Based on our qualitative assessment, we concluded that there were no conditions, changes in operations, or results that indicated a triggering event had occurred in the fourth quarter of 2020. Thus, a quantitative assessment was not required and we determined that it was more likely than not that the fair value of the reporting unit was greater than its carrying value and there was no evidence of impairment. We performed our annual goodwill impairment testing in the fourth quarter of 2021. We evaluated the carrying value of our goodwill and determined that it was not impaired. The following table presents the changes in the carrying amount of goodwill for the years indicated: Goodwill (In thousands) Balance, December 31, 2019 $ 2,548,670 Impairment (1,470,000) Balance, December 31, 2020 1,078,670 Addition from the Civic acquisition 125,448 Addition from the HOA Business acquisition 201,618 Balance, December 31, 2021 $ 1,405,736 Our other intangible assets with definite lives are CDI and CRI. CDI and CRI are amortized over their respective estimated useful lives and reviewed for impairment at least quarterly. The amortization expense represents the estimated decline in the value of the underlying deposits or customer relationships acquired. The following table presents the changes in CDI and CRI and the related accumulated amortization for the years indicated: Year Ended December 31, 2021 2020 2019 (In thousands) Gross Amount of CDI and CRI: Balance, beginning of year $ 109,646 $ 117,573 $ 119,497 Addition from the Civic acquisition 750 — — Addition from the HOA Business acquisition 33,300 — — Fully amortized portion (9,846) (7,927) (1,924) Balance, end of year 133,850 109,646 117,573 Accumulated Amortization: Balance, beginning of year (86,005) (79,179) (62,377) Amortization expense (12,734) (14,753) (18,726) Fully amortized portion 9,846 7,927 1,924 Balance, end of year (88,893) (86,005) (79,179) Net CDI and CRI, end of year $ 44,957 $ 23,641 $ 38,394 The following table presents the estimated aggregate future amortization expense for our current intangible assets as of the date indicated: December 31, 2021 (In thousands) Year Ending December 31, 2022 $ 13,575 2023 9,085 2024 6,404 2025 4,087 2026 3,482 Thereafter 8,324 Net CDI and CRI $ 44,957 |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2021 | |
Other Assets [Abstract] | |
Other Assets | OTHER ASSETS The following table presents the detail of our other assets as of the dates indicated: December 31, Other Assets 2021 2020 (In thousands) LIHTC investments $ 297,746 $ 213,034 Cash surrender value of BOLI 203,836 203,031 Operating lease ROU assets, net (1) 123,225 119,787 Interest receivable 120,329 101,596 Equity investments without readily determinable fair values 62,975 34,304 SBIC investments 46,861 32,327 Taxes receivable 36,011 59,565 Equity investments with readily determinable fair values 28,578 6,147 Prepaid expenses 27,632 22,999 Equity warrants (2) 3,555 4,520 Other receivables/assets 133,244 63,016 Total other assets $ 1,083,992 $ 860,326 ____________________ (1) See Note 10. Leases for further details regarding the operating lease ROU assets. (2) See Note 13. Derivatives for information regarding equity warrants. The Company invests as a limited partner in LIHTC partnerships that operate qualified affordable housing projects and generate tax benefits for investors, including federal low income housing tax credits. The partnerships are deemed to be VIEs because they do not have sufficient equity investment at risk and are structured with non-substantive voting rights; however, we are not the primary beneficiary of the VIEs and do not consolidate them. We amortize the investment in proportion to the allocated tax benefits using the proportional amortization method of accounting and record such benefits net of investment amortization in income tax expense. The Company has purchased life insurance policies on certain employees and has also acquired life insurance policies through acquisitions. BOLI is recorded at the amount that can be realized under the insurance contract, which is the cash surrender value. The increase in the cash surrender value each period and the receipt of death benefit proceeds in excess of the cash surrender value are recorded to " Noninterest income - other." The Company's equity investments without readily determinable fair values include investments in privately held companies, limited partnerships, entities from which we issued trust preferred securities, CRA-related loan pool investments, and CRA-related equity investments. The CRA-related loan pool and equity investments primarily consist of investments in partnerships which provide affordable housing and participations in loan pools which provide low-cost loans to low and moderate income applicants. We measure our equity investments without readily determinable fair values using the measurement alternative. Carrying values of these investments are adjusted to fair value upon observable transactions for identical or similar investments of the same issuer. Unrealized and realized gains and losses on equity investments without readily determinable fair values are recorded in "Noninterest income - other" on the consolidated statements of earnings (loss). The Company's equity investments with readily determinable fair values include investments in public companies, often from the exercise of warrants, and publicly-traded mutual funds. Unrealized and realized gains and losses on equity investments with readily determinable fair values are recorded in "Noninterest income - other" on the consolidated statements of earnings (loss). |
Leases
Leases | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Lessee, Operating Leases | NOTE 10. LEASES We determine if an arrangement is a lease at inception by assessing whether there is an identified asset, and whether the contract conveys the right to control the use of the identified asset for a period of time in exchange for consideration. ASC Topic 842 also requires a lessee to classify a lease as either finance or operating. ROU assets represent a lessee's right to use an underlying asset for the lease term and lease liabilities represent a lessee's obligation to make lease payments arising from the lease. We amortize the operating lease ROU assets and record interest expense on the operating lease liabilities over the lease terms. Operating leases with a term of more than one year are included in operating lease ROU assets and operating lease liabilities, which are reported in "Other assets" and "Accrued interest payable and other liabilities" on the Company's consolidated balance sheets. S hort-term leases (initial term of less than 12 months) are not recorded on the balance sheet and lease expense is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components, which are accounted for as a single lease component. Most leases include one or more options to renew, with renewal terms that can extend the lease from one Certain of our lease agreements also include rental payments that adjust periodically based on changes in the CPI. We initially measured our lease payments using the index at the lease commencement date. Subsequent increases in the CPI are treated as variable lease payments and recognized in the period in which the obligation for those payments is incurred. The ROU assets and lease liabilities are not re-measured as a result of changes in the CPI. Our lease agreements do not contain any purchase options, residual value guarantees, or restrictive covenants. Operating Leases as a Lessee Our lease expense is a component of "Occupancy expense" on our consolidated statements of earnings (loss). The following table presents the components of lease expense for the period indicated: Year Ended December 31, 2021 2020 (In thousands) Operating lease expense: Fixed costs $ 34,541 $ 34,393 Variable costs 59 51 Short-term lease costs 1,347 385 Sublease income (4,474) (4,171) Net lease expense $ 31,473 $ 30,658 The following table presents supplemental cash flow information related to leases for the period indicated: Year Ended December 31, 2021 2020 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 36,212 $ 33,889 ROU assets obtained in exchange for lease obligations: Operating leases $ 35,820 $ 24,309 The following table presents supplemental balance sheet and other information related to operating leases as of the date indicated: December 31, 2021 December 31, 2020 (Dollars in thousands) Operating leases: Operating lease right-of-use assets, net $ 123,225 $ 119,787 Operating lease liabilities $ 142,117 $ 139,501 Weighted average remaining lease term (in years) 5.6 5.8 Weighted average discount rate 2.23 % 2.54 % The following table presents the maturities of operating lease liabilities as of the date indicated: December 31, 2021 (In thousands) Year Ending December 31, 2022 $ 35,102 2023 32,945 2024 25,816 2025 18,900 2026 13,706 Thereafter 25,715 Total operating lease liabilities 152,184 Less: Imputed interest (10,067) Present value of operating lease liabilities $ 142,117 Operating Leases as a Lessor We provide equipment financing to our customers through operating leases where we facilitate the purchase of equipment leased to our customers. The equipment is shown on our consolidated balance sheets as "Equipment leased to others under operating leases" and is depreciated to its estimated residual value at the end of the lease term, shown as "Leased equipment depreciation" in the consolidated statements of earnings (loss), according to our fixed asset accounting policy. We receive periodic rental income payments under the leases, which are recorded as "Leased equipment income" in the consolidated statements of earnings (loss). The equipment is tested periodically for impairment. No impairment was recorded on "Equipment leased to others under operating leases" for the years ended December 31, 2021 and 2020. The following table presents the contractual rental payments to be received on operating leases as of the date indicated: December 31, 2021 (In thousands) Year Ending December 31, 2022 $ 49,300 2023 40,825 2024 35,186 2025 25,008 2026 19,245 Thereafter 35,172 Total undiscounted cash flows $ 204,736 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2021 | |
Deposits [Abstract] | |
Deposits | NOTE 11. DEPOSITS The following table presents the components of interest‑bearing deposits as of the dates indicated: December 31, Deposit Composition 2021 2020 (In thousands) Interest checking $ 7,386,269 $ 5,999,245 Money market 11,064,870 7,658,049 Savings 630,653 562,826 Time deposits $250,000 and under 885,938 994,197 Time deposits over $250,000 486,894 532,573 Total interest-bearing deposits $ 20,454,624 $ 15,746,890 Brokered time deposits totaled $195.7 million at both December 31, 2021 and 2020. Brokered non-maturity deposits totaled $0.9 billion and $1.1 billion at December 31, 2021 and 2020. The following table summarizes the maturities of time deposits as of the date indicated: Time Deposits $250,000 Over December 31, 2021 and Under $250,000 Total (In thousands) Year of Maturity: 2022 $ 663,169 $ 473,700 $ 1,136,869 2023 110,917 10,824 121,741 2024 52,897 505 53,402 2025 56,067 546 56,613 2026 2,859 1,319 4,178 Thereafter 29 — 29 Total $ 885,938 $ 486,894 $ 1,372,832 |
Borrowings and Subordinated Deb
Borrowings and Subordinated Debentures | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Borrowings and Subordinated Debentures | NOTE 12. BORROWINGS AND SUBORDINATED DEBT Borrowings The following table summarizes our borrowings as of the dates indicated: December 31, 2021 2020 Weighted Weighted Average Average Borrowing Type Balance Rate Balance Rate (Dollars in thousands) FHLB secured advances $ — — % $ 5,000 — % Total borrowings $ — — % $ 5,000 — % The Bank has established secured and unsecured lines of credit under which it may borrow funds from time to time on a term or overnight basis from the FHLB, the FRBSF, and other financial institutions. FHLB Secured Line of Credit. The Bank had secured borrowing capacity with the FHLB of $4.0 billion as of December 31, 2021, collateralized by a blanket lien on $6.2 billion of qualifying loans. The following table presents the interest rates and maturity dates of FHLB secured advances as of the dates indicated: December 31, 2021 2020 Maturity Maturity Balance Rate Date Balance Rate Date (Dollars in thousands) Term advance — — % 5,000 — % 5/6/2021 Total FHLB secured advances $ — — % $ 5,000 — % FRBSF Secured Line of Credit. The Bank had secured borrowing capacity with the FRBSF of $1.4 billion as of December 31, 2021, collateralized by liens on $1.8 billion of qualifying loans. As of December 31, 2021 and 2020, there was no balances outstanding. FHLB Unsecured Line of Credit. As of December 31, 2021, the Bank had a $112.0 million unsecured line of credit with the FHLB for the borrowing of overnight funds. As of December 31, 2021 and 2020, there was no balance outstanding. Federal Funds Arrangements with Commercial Banks. As of December 31, 2021, the Bank had unsecured lines of credit of $180.0 million in the aggregate with several correspondent banks for the borrowing of overnight funds, subject to availability of funds. These lines are renewable annually and have no unused commitment fees. As of December 31, 2021 and 2020, there were no balances outstanding. The Bank is a member of the AFX, through which it may either borrow or lend funds on an overnight or short-term basis with a group of pre-approved commercial banks. The availability of funds changes daily. As of December 31, 2021 and 2020, there was no borrowing. Subordinated Debt The following table summarizes the terms of each issuance of subordinated debt outstanding as of the dates indicated: December 31, 2021 2020 Issue Maturity Rate Index Series Balance Rate (1) Balance Rate (1) Date Date (Quarterly Reset) (6) (Dollars in thousands) Subordinated notes, net (2) $ 394,634 3.25 % $ — — % 4/30/2021 5/1/2031 Fixed rate (3) Trust V 10,310 3.32 % 10,310 3.33 % 8/15/2003 9/17/2033 3-month LIBOR + 3.10 Trust VI 10,310 3.25 % 10,310 3.27 % 9/3/2003 9/15/2033 3-month LIBOR + 3.05 Trust CII 5,155 3.17 % 5,155 3.18 % 9/17/2003 9/17/2033 3-month LIBOR + 2.95 Trust VII 61,856 2.88 % 61,856 2.96 % 2/5/2004 4/23/2034 3-month LIBOR + 2.75 Trust CIII 20,619 1.89 % 20,619 1.91 % 8/15/2005 9/15/2035 3-month LIBOR + 1.69 Trust FCCI 16,495 1.80 % 16,495 1.82 % 1/25/2007 3/15/2037 3-month LIBOR + 1.60 Trust FCBI 10,310 1.75 % 10,310 1.77 % 9/30/2005 12/15/2035 3-month LIBOR + 1.55 Trust CS 2005-1 82,475 2.15 % 82,475 2.17 % 11/21/2005 12/15/2035 3-month LIBOR + 1.95 Trust CS 2005-2 128,866 2.08 % 128,866 2.16 % 12/14/2005 1/30/2036 3-month LIBOR + 1.95 Trust CS 2006-1 51,545 2.08 % 51,545 2.16 % 2/22/2006 4/30/2036 3-month LIBOR + 1.95 Trust CS 2006-2 51,550 2.08 % 51,550 2.16 % 9/27/2006 10/30/2036 3-month LIBOR + 1.95 Trust CS 2006-3 (4) 29,306 1.49 % 31,487 1.54 % 9/29/2006 10/30/2036 3-month EURIBOR + 2.05 Trust CS 2006-4 16,470 2.08 % 16,470 2.16 % 12/5/2006 1/30/2037 3-month LIBOR + 1.95 Trust CS 2006-5 6,650 2.08 % 6,650 2.16 % 12/19/2006 1/30/2037 3-month LIBOR + 1.95 Trust CS 2007-2 39,177 2.08 % 39,177 2.16 % 6/13/2007 7/30/2037 3-month LIBOR + 1.95 Total subordinated debt 935,728 2.64 % 543,275 2.24 % Acquisition discount (5) (72,445) (77,463) Net subordinated debt $ 863,283 $ 465,812 ___________________ (1) Rates do not include the effects of discounts and issuance costs. (2) Net of unamortized issuance costs of $5.4 million. (3) Interest rate is fixed until May 1, 2026, when it changes to a floating rate and resets quarterly at a benchmark rate plus 252 basis points. (4) Denomination is in Euros with a value of €25.8 million. (5) Amount represents the fair value adjustment on trust preferred securities assumed in acquisitions. (6) Interest rate will default to the last published or determined rate of LIBOR, and for Trust CS 2006-4, the Base Rate, defined as the greater of Prime and the federal funds rate, upon cessation of LIBOR and effectively converting these instruments to fixed rate, if not modified prior to June 30, 2023. Subordinated Notes Offering On April 30, 2021, the Bank completed the sale of $400 million aggregate principal amount of 3.25% Fixed-to-Floating Rate Subordinated Notes (the "Notes") due May 1, 2031 (the “Maturity Date”). Subject to any redemption prior to the Maturity Date, the Notes will bear interest from and including the original issue date to, but excluding, May 1, 2026 (the “Reset Date”), at a fixed rate of 3.25% per annum and from and including the Reset Date, but excluding the Maturity Date, the Notes will bear interest at a floating per annum rate equal to a benchmark rate (which is expected to be the Three-Month Term SOFR) plus 252 basis points. Interest on the Notes will be payable on May 1 and November 1 of each year through, but not including, the Reset Date, and quarterly thereafter on February 1, May 1, August 1, and November 1 of each year to, but not including, the Maturity Date or earlier redemption date. The first interest payment will be made on November 1, 2021. The Bank may, at its option, beginning with the interest payment date of May 1, 2026, and on any scheduled interest payment date thereafter, redeem the Notes, in whole or in part, from time to time, subject to any required regulatory approval to the extent such approval is then required, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest to, but excluding, the date of redemption, subject to certain conditions. The costs incurred in connection with the Notes offering amortize to interest expense over the term of the Notes. The Notes qualify as Tier 2 capital for regulatory capital purposes. |
Derivatives
Derivatives | 12 Months Ended |
Dec. 31, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | DERIVATIVES The Company uses derivatives to manage exposure to market risk, primarily foreign currency risk and interest rate risk, and to assist customers with their risk management objectives. Our derivatives are carried at fair value and recorded in "Other assets" or "Accrued interest payable and other liabilities," as appropriate, in the consolidated balance sheets. The changes in fair value of our derivatives and the related fees are recognized in "Noninterest income - other" in the consolidated statements of earnings (loss). For the year ended December 31, 2021, changes in fair value and fees recorded to noninterest income in the consolidated statements of earnings (loss) were immaterial. See Note 9. Other Assets for additional information regarding equity warrant assets. The following table presents the U.S. dollar notional amounts and fair values of our derivative instruments included in the consolidated balance sheets as of the dates indicated: December 31, 2021 December 31, 2020 Notional Fair Notional Fair Derivatives Not Designated As Hedging Instruments Amount Value Amount Value (In thousands) Derivative Assets: Interest rate contracts $ 87,470 $ 992 $ 59,867 $ 1,028 Foreign exchange contracts 28,463 1,517 73,108 3,202 Interest rate and economic contracts 115,933 2,509 132,975 4,230 Equity warrant assets 18,539 3,555 24,081 4,520 Total $ 134,472 $ 6,064 $ 157,056 $ 8,750 Derivative Liabilities: Interest rate contracts $ 87,470 $ 931 $ 59,867 $ 1,004 Foreign exchange contracts 28,463 — 73,108 146 Total $ 115,933 $ 931 $ 132,975 $ 1,150 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | NOTE 14. COMMITMENTS AND CONTINGENCIES The following table presents a summary of commitments described below as of the dates indicated: December 31, 2021 2020 (In thousands) Loan commitments to extend credit $ 9,006,350 $ 7,601,390 Standby letters of credit 345,769 337,336 Total $ 9,352,119 $ 7,938,726 The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheets. The contract or notional amounts of those instruments reflect the extent of involvement that the Company has in particular classes of financial instruments. Commitments to extend credit are contractual agreements to lend to our customers when customers are in compliance with their contractual credit agreements and when customers have contractual availability to borrow under such agreements. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. We provide standby letters of credit in conjunction with several of our lending arrangements and property lease obligations. Most guarantees expire within one year from the date of issuance. If a borrower defaults on its commitments subject to any letter of credit issued under these arrangements, we would be required to meet the borrower's financial obligation but would seek repayment of that financial obligation from the borrower. In some cases, borrowers have pledged cash and investment securities as collateral under these arrangements. Additionally, we have commitments to invest in SBICs that call for capital contributions up to an amount specified in the partnership agreements, and in CRA-related loan pools. As of December 31, 2021 and 2020, such commitments totaled $85.9 million and $55.5 million. The following table presents the years in which commitments are expected to be paid for our commitments to contribute capital to SBICs and CRA-related loan pools as of the date indicated: December 31, 2021 (In thousands) Year Ending December 31, 2022 $ 38,950 2023 41,417 2024 5,557 Total $ 85,924 Legal Matters In the ordinary course of our business, we are party to various legal actions, which we believe are incidental to the operation of our business. The outcome of such legal actions and the timing of ultimate resolution are inherently difficult to predict. In the opinion of management, based upon information currently available to us, any resulting liability, in addition to amounts already accrued, and taking into consideration insurance which may be applicable, would not have a material adverse effect on the Company’s financial statements or operations. The range of any reasonably possible liabilities is also not significant. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | NOTE 15. FAIR VALUE MEASUREMENTS ASC Topic 820, “ Fair Value Measurement ,” defines fair value, establishes a framework for measuring fair value including a three‑level valuation hierarchy, and expands disclosures about fair value measurements. Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date reflecting assumptions that a market participant would use when pricing an asset or liability. The hierarchy uses three levels of inputs to measure the fair value of assets and liabilities as follows: • Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2: Observable inputs other than Level 1, including quoted prices for similar assets and liabilities in active markets, quoted prices in less active markets, or other observable inputs that can be corroborated by observable market data, either directly or indirectly, for substantially the full term of the financial instrument. This category generally includes agency residential CMOs, agency commercial and residential MBS, municipal securities, collateralized loan obligations, registered publicly rated private label CMOs, corporate debt securities, SBA securities, and asset-backed securitizations. • Level 3: Inputs to a valuation methodology that are unobservable, supported by little or no market activity, and significant to the fair value measurement. These valuation methodologies generally include pricing models, discounted cash flow models, or a determination of fair value that requires significant management judgment or estimation. This category also includes observable inputs from a pricing service not corroborated by observable market data, and includes our non-rated private label residential CMOs, non-rated private label commercial MBS, and equity warrants. We use fair value to measure certain assets and liabilities on a recurring basis, primarily securities available‑for‑sale and derivatives. For assets measured at the lower of cost or fair value, the fair value measurement criteria may or may not be met during a reporting period and such measurements are therefore considered “nonrecurring” for purposes of disclosing our fair value measurements. Fair value is used on a nonrecurring basis to adjust carrying values for individually evaluated loans and leases and other real estate owned and also to record impairment on certain assets, such as goodwill, CDI, and other long-lived assets. The Company also holds SBIC investments measured at fair value using the NAV per share practical expedient that are not required to be classified in the fair value hierarchy. At December 31, 2021, the fair value of these investments was $46.9 million. The following tables present information on the assets and liabilities measured and recorded at fair value on a recurring basis as of the dates indicated: Fair Value Measurements as of December 31, 2021 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available‑for‑sale: Agency residential MBS $ 2,898,210 $ — $ 2,898,210 $ — Municipal securities 2,315,968 — 2,315,968 — Agency commercial MBS 1,688,967 — 1,688,967 — Agency residential CMOs 1,038,134 — 1,038,134 — U.S. Treasury securities 966,898 966,898 — — Corporate debt securities 527,094 — 527,094 — Private label commercial MBS 450,217 — 435,216 15,001 Collateralized loan obligations 385,362 — 385,362 — Private label residential CMOs 264,417 — 264,417 — Asset-backed securities 129,547 — 129,547 — SBA securities 29,644 — 29,644 — Total securities available-for-sale $ 10,694,458 $ 966,898 $ 9,712,559 $ 15,001 Equity investments with readily determinable fair values $ 28,578 $ 28,578 $ — $ — Derivatives (1) : Equity warrants 3,555 — — 3,555 Interest rate and economic contracts 2,509 — 2,509 — Derivative liabilities 931 — 931 — Fair Value Measurements as of December 31, 2020 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available‑for‑sale: Municipal securities $ 1,531,617 $ — $ 1,531,617 $ — Agency commercial MBS 1,281,877 — 1,281,877 — Agency residential CMOs 1,219,880 — 1,219,880 — Agency residential MBS 341,074 — 341,074 — Corporate debt securities 311,889 — 311,889 — Asset-backed securities 166,546 — 166,546 — Collateralized loan obligations 135,876 — 135,876 — Private label residential CMOs 116,946 — 112,299 4,647 Private label commercial MBS 82,957 — 57,232 25,725 SBA securities 41,627 — 41,627 — U.S. Treasury securities 5,302 5,302 — — Total securities available-for-sale $ 5,235,591 $ 5,302 $ 5,199,917 $ 30,372 Equity investments with readily determinable fair values $ 6,147 $ 6,147 $ — $ — Derivatives (1) : Equity warrants 4,520 — — 4,520 Interest rate and economic contracts 4,230 — 4,230 — Derivative liabilities 1,150 — 1,150 — ____________________ (1) For information regarding derivative instruments, see Not e 13. Derivatives . During the year ended December 31, 2021, there was a $646,000 t r ansfer from Level 3 equity warrants to Level 1 equity investments with readily determinable fair values measured on a recurring basis. During the year ended December 31, 2020, there was a $119,000 transfer from Level 3 equity warrants to Level 1 equity investments with readily determinable fair values measured on a recurring basis. The following table presents information about the quantitative inputs and assumptions used to determine the fair values provided by our third party pricing service for our Level 3 private label commercial MBS available-for-sale measured at fair value on a recurring basis as of the date indicated: December 31, 2021 Private Label Commercial MBS Input or Weighted Range of Average Unobservable Inputs Inputs Input (1) Voluntary annual prepayment speeds 10.0% - 15.0% 12.1% Annual default rates (2) 2.0% 2.0% Loss severity rates (2) 60.0% 60.0% Discount rates 3.0% - 3.4% 3.3% ____________________ (1) Voluntary annual prepayment speeds and discount rates for private label commercial MBS were weighted by the relative fair values of the instruments. (2) Annual default rates and loss severity rates were the same for all of the private label commercial MBS. The following table presents information about the quantitative inputs and assumptions used in the modified Black-Scholes option pricing model to determine the fair value for our Level 3 equity warrants measured at fair value on a recurring basis as of the date indicated: December 31, 2021 Equity Warrants Weighted Range Average Unobservable Inputs of Inputs Input Volatility 21.0% - 139.9% 28.6% Risk-free interest rate 0.1% - 1.3% 0.9% Remaining life assumption (in years) 0.08 - 4.99 3.00 The following table summarizes activity for our Level 3 private label residential CMOs measured at fair value on a recurring basis for the years indicated: Year Ended December 31, Level 3 Private Label Residential CMOs 2021 2020 2019 (In thousands) Balance, beginning of year $ 4,647 $ 6,264 $ 7,288 Total included in earnings 2,287 485 432 Total unrealized loss in comprehensive income (1,094) (592) (265) Sales (2,903) — — Net settlements (2,937) (1,510) (1,191) Balance, end of year $ — $ 4,647 $ 6,264 Unrealized net gains (losses) for the period included in other comprehensive income for securities held at year-end $ — The following table summarizes activity for our Level 3 private label commercial MBS measured at fair value on a recurring basis for the years indicated: Year Ended December 31, Level 3 Private Label Commercial MBS 2021 2020 2019 (In thousands) Balance, beginning of year $ 25,725 $ 16,435 $ 39,945 Total included in earnings (77) 5 (77) Total unrealized gain (loss) in comprehensive income (115) (41) 463 Purchases — 20,100 — Net settlements (10,532) (10,774) (23,896) Balance, end of year $ 15,001 $ 25,725 $ 16,435 Unrealized net gains (losses) for the period included in other comprehensive income for securities held at year-end $ 41 The following table summarizes activity for our Level 3 equity warrants measured at fair value on a recurring basis for the years indicated: Year Ended December 31, Level 3 Equity Warrants 2021 2020 2019 (In thousands) Balance, beginning of year $ 4,520 $ 3,434 $ 4,793 Total included in earnings 49,341 10,609 8,669 Exercises and settlements (1) (50,092) (9,828) (10,239) Issuances 432 424 324 Transfers to Level 1 (equity investments with readily determinable fair values) (646) (119) (113) Balance, end of year $ 3,555 $ 4,520 $ 3,434 ______________________ (1) Includes the exercise of warrants that upon exercise become equity securities in public companies. These are often subject to lock-up restrictions that must be met before the equity security can be sold, during which time they are reported as equity investments with readily determinable fair values. The following tables present assets measured at fair value on a non‑recurring basis as of the dates indicated: Fair Value Measurement as of December 31, 2021 Measured on a Non‑Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases $ 30,882 $ — $ 2,915 $ 27,967 Total non-recurring $ 30,882 $ — $ 2,915 $ 27,967 Fair Value Measurement as of December 31, 2020 Measured on a Non‑Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases $ 102,274 $ — $ 4,160 $ 98,114 Total non-recurring $ 102,274 $ — $ 4,160 $ 98,114 The following table presents losses recognized on assets measured on a nonrecurring basis for the years indicated: Year Ended December 31, Loss on Assets Measured on a Non‑Recurring Basis 2021 2020 2019 (In thousands) Individually evaluated loans and leases (1) $ 5,772 $ 24,607 $ 6,797 OREO 14 267 78 Total net loss $ 5,786 $ 24,874 $ 6,875 _____________________ (1) For 2021 and 2020, losses were based on individually evaluated loans and leases. For 2019, losses were based on impaired loans and leases. The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis as of the date indicated: December 31, 2021 Valuation Unobservable Input or Weighted Asset Fair Value Technique Inputs Range Average (In thousands) Individually evaluated loans and leases $ 15,426 Discounted cash flows Discount rates 0.00% - 9.25% 6.46% Individually evaluated loans and leases 12,541 Third party appraisals No discounts Total non-recurring Level 3 $ 27,967 ASC Topic 825, “ Financial Instruments ,” requires disclosure of the estimated fair value of certain financial instruments and the methods and significant assumptions used to estimate such fair values. Additionally, certain financial instruments and all nonfinancial instruments are excluded from the applicable disclosure requirements. The following tables present carrying amounts and estimated fair values of certain financial instruments as of the dates indicated: December 31, 2021 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 112,548 $ 112,548 $ 112,548 $ — $ — Interest‑earning deposits in financial institutions 3,944,686 3,944,686 3,944,686 — — Securities available‑for‑sale 10,694,458 10,694,458 966,898 9,712,559 15,001 Investment in FHLB stock 17,250 17,250 — 17,250 — Loans and leases held for investment, net 22,740,984 23,461,156 — 2,915 23,458,241 Equity investments with readily determinable fair values 28,578 28,578 28,578 — — Equity warrants 3,555 3,555 — — 3,555 Interest rate and economic contracts 2,509 2,509 — 2,509 — Servicing rights 1,228 1,228 — — 1,228 Financial Liabilities: Core deposits 32,734,949 32,734,949 — 32,734,949 — Non-core non-maturity deposits 889,976 889,976 — 889,976 — Time deposits 1,372,832 1,371,527 — 1,371,527 — Borrowings — — — — — Subordinated debt 863,283 917,342 — 917,342 — Derivative liabilities 931 931 — 931 — December 31, 2020 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 150,464 $ 150,464 $ 150,464 $ — $ — Interest‑earning deposits in financial institutions 3,010,197 3,010,197 3,010,197 — — Securities available‑for‑sale 5,235,591 5,235,591 5,302 5,199,917 30,372 Investment in FHLB stock 17,250 17,250 — 17,250 — Loans and leases held for investment, net 18,735,196 19,305,998 — 4,160 19,301,838 Equity investments with readily determinable fair values 6,147 6,147 6,147 — — Equity warrants 4,520 4,520 — — 4,520 Interest rate and economic contracts 4,230 4,230 — 4,230 — Financial Liabilities: Core deposits 22,264,480 22,264,480 — 22,264,480 — Non-core non-maturity deposits 1,149,467 1,149,467 — 1,149,467 — Time deposits 1,526,770 1,527,639 — 1,527,639 — Borrowings 5,000 4,995 — 4,995 — Subordinated debt 465,812 448,036 — 448,036 — Derivative liabilities 1,150 1,150 — 1,150 — The following is a description of the valuation methodologies used to measure our assets recorded at fair value (under ASC Topic 820, “ Fair Value Measurement ”) and for estimating fair value for financial instruments not recorded at fair value (under ASC Topic 825). Cash and due from banks. The carrying amount is assumed to be the fair value because of the liquidity of these instruments. Interest‑earning deposits in financial institutions. The carrying amount is assumed to be the fair value given the short‑term nature of these deposits. Securities available‑for‑sale. Securities available‑for‑sale are measured and carried at fair value on a recurring basis. Unrealized gains and losses on available‑for‑sale securities are reported as a component of “Accumulated other comprehensive income” in the consolidated balance sheets. See Note 4. Investment Securities for further information on unrealized gains and losses on securities available‑for‑sale. Fair value for securities categorized as Level 1, which are publicly traded securities, are based on readily available quoted prices. In determining the fair value of the securities categorized as Level 2, we obtain a report from a nationally recognized broker‑dealer detailing the fair value of each investment security we hold as of each reporting date. The broker‑dealer uses observable market information to value our securities, with the primary source being a nationally recognized pricing service. We review the market prices provided by the broker‑dealer for our securities for reasonableness based on our understanding of the marketplace and we consider any credit issues related to the securities. As we have not made any adjustments to the market quotes provided to us and they are based on observable market data, they have been categorized as Level 2 within the fair value hierarchy. Our non-rated private label residential CMOs and non-rated private label commercial MBS (collectively, “the Level 3 AFS Securities”) were categorized as Level 3 due in part to the inactive market for such securities. There is a wide range of prices quoted for our Level 3 AFS Securities among independent third party pricing services, and this range reflects the significant judgment being exercised over the assumptions and variables that determine the pricing of such securities. We consider this subjectivity relating to our Level 3 AFS Securities to be a significant unobservable input. Had significant changes in default expectations, loss severity factors, or discount rates occurred all together or in isolation, it would have resulted in different fair value measurements at December 31, 2021. FHLB stock. Investments in FHLB stock are recorded at cost and measured for impairment quarterly. Ownership of FHLB stock is restricted to member banks and the securities do not have a readily determinable market value. Purchases and sales of these securities are at par value with the issuer. The fair value of investments in FHLB stock is equal to the carrying amount. Loans and leases. As loans and leases are not measured at fair value, the following discussion relates to estimating the fair value disclosures under ASC Topic 825. Fair values are measured using the exit price and are estimated for portfolios of loans and leases with similar characteristics. Loans are segregated by type and further segmented into fixed and adjustable rate interest buckets by credit risk categories and by maturity dates. To determine the exit price of a loan or lease, the cash flows are estimated using a model which utilizes credit spreads and illiquidity premiums. The credit spread for a loan is determined by mapping loans' credit risk ratings to an equivalent corporate bond rating. Once the corporate bond rating is assigned, the credit spread is determined using corporate credit curves for corporate bonds that have a similar corporate bond rating and remaining term as the loan being valued. Illiquidity premiums are assigned to individual loans in a similar manner as an illiquidity premium amount is determined for each corporate bond rating. The credit spread above the appropriate rate curve and the illiquidity premium are considered to arrive at the discount rate curve applied to loan cash flows. The Community Bank group originates and purchases a number of similar, homogeneous loans. For this portfolio, management may make adjustments to the discount rate arrived at using the previously described methodology based upon the pricing for recent loan pool purchases and/or rates on recent originations. Individually evaluated loans and leases. Defaulted loans and leases with outstanding balances over $250,000 are reviewed individually for expected credit loss, if any, and are recorded at fair value on a non-recurring basis. These defaulted loans and leases are excluded from the loan pools used within the collective evaluation of estimated credit losses. The criteria for default may include any one of the following: (1) on nonaccrual status, (2) modified under a TDR, (3) payment delinquency of 90 days or more, (4) partial charge-off recognized, (5) risk rated doubtful or loss, or (6) reasonably expected to be modified under a TDR. To the extent a defaulted loan or lease is collateral dependent, we measure expected credit loss based on the estimated fair value of the underlying collateral. The fair value of each loan’s collateral is generally based on estimated market prices from an independently prepared appraisal, which is then adjusted for the cost related to liquidating such collateral; such valuation inputs result in a nonrecurring fair value measurement that is categorized as a Level 2 measurement. The Level 2 measurement is based on appraisals obtained within the last 12 months and for which a charge‑off was recognized or a change in the specific valuation allowance was made during the year ended December 31, 2021. When adjustments are made to an appraised value to reflect various factors such as the age of the appraisal or known changes in the market or the collateral, such valuation inputs are considered unobservable and the fair value measurement is categorized as a Level 3 measurement. The individually evaluated loans and leases categorized as Level 3 also include unsecured loans and other secured loans whose fair values are based significantly on unobservable inputs such as the strength of a guarantor, including an SBA government guarantee, cash flows discounted at the effective loan rate, and management’s judgment. The individually evaluated loan and lease balances shown above as measured on a non-recurring basis represent those defaulted loans and leases for which expected credit loss was recognized during the year ended December 31, 2021. The amounts shown as net losses include the expected credit loss recognized during the year ended December 31, 2021, for the loan and lease balances shown. OREO. The fair value of OREO is generally based on the lower of estimated market prices from independently prepared current appraisals or negotiated sales prices with potential buyers, less estimated costs to sell; such valuation inputs result in a fair value measurement that is categorized as a Level 2 measurement on a nonrecurring basis. As a matter of policy, appraisals are required annually and may be updated more frequently as circumstances require in the opinion of management. The Level 2 measurement for OREO is based on appraisals obtained within the last 12 months and for which a write‑down was recognized during the year ended December 31, 2021. When a current appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value as a result of known changes in the market or the collateral and there is no observable market price, such valuation inputs result in a fair value measurement that is categorized as a Level 3 measurement. To the extent a negotiated sales price or reduced listing price represents a significant discount to an observable market price, such valuation input would result in a fair value measurement that is also considered a Level 3 measurement. The OREO losses disclosed are write‑downs based on either a recent appraisal obtained after foreclosure or an accepted purchase offer by an independent third party received after foreclosure. Equity warrants. Equity warrants with net settlement terms are received in connection with extending loan commitments to certain of our customers. We estimate the fair value of equity warrants using a Black-Scholes option pricing model to approximate fair market value. We typically classify our equity warrant derivatives in Level 3 of the fair value hierarchy. Equity investments with readily determinable fair values. Our equity investments with readily determinable fair values include investments in public companies and publicly-traded mutual funds. Equity investments with readily determinable fair values are recorded at fair value with changes in fair value recorded in “Noninterest income - other.” Fair value measurements related to these investments are typically classified within Level 1 of the fair value hierarchy. Deposits. Deposits are carried at historical cost. The fair values of deposits with no stated maturity, such as core deposits (defined as noninterest‑bearing demand, interest checking, money market, and savings accounts) and non-core non-maturity deposits, are equal to the amount payable on demand as of the balance sheet date and considered Level 2. The fair value of time deposits is based on the discounted value of contractual cash flows and considered Level 2. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities. No value has been separately assigned to the Company’s long‑term relationships with its deposit customers, such as a core deposit intangible. Borrowings. Borrowings include overnight FHLB advances and other fixed‑rate term borrowings. Borrowings are carried at amortized cost. The fair value of overnight FHLB advances is equal to the carrying value and considered Level 1. The fair value of fixed‑rate borrowings is calculated by discounting scheduled cash flows through the maturity dates or call dates, if applicable, using estimated market discount rates that reflect current rates offered for borrowings with similar remaining maturities and characteristics and are considered Level 2. Subordinated debt. Subordinated debt is carried at amortized cost. The fair value of subordinated debt is determined using a market discount rate on the expected cash flows and is considered Level 2. Derivative assets and liabilities. Derivatives are carried at fair value on a recurring basis and primarily relate to forward exchange contracts which we enter into to manage foreign exchange risk. Our derivatives are principally traded in over-the-counter markets where quoted market prices are not readily available. Instead, the fair value of derivatives is estimated using market observable inputs such as foreign exchange forward rates, interest rate yield curves, volatilities and basis spreads. We also consider counter-party credit risk in valuing our derivatives. We typically classify our foreign exchange derivatives in Level 2 of the fair value hierarchy. Commitments to extend credit. The majority of our commitments to extend credit carry current market interest rates if converted to loans. Because these commitments are generally not assignable by either the borrower or us, they only have value to the borrower and us. The estimated fair value approximates the recorded deferred fee amounts and is excluded from the table above because it is not material. Limitations Fair value estimates are made at a specific point in time and are based on relevant market information and information about the financial instrument. These estimates do not reflect income taxes or any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a portion of the Company’s financial instruments, fair value estimates are based on what management believes to be reasonable judgments regarding expected future cash flows, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimated fair values are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Since the fair values have been estimated as of December 31, 2021, the amounts that will actually be realized or paid at settlement or maturity of the instruments could be significantly different. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES The following table presents the components of income tax expense for the years indicated: Year Ended December 31, 2021 2020 2019 (In thousands) Current Income Tax Expense: Federal $ 131,559 $ 78,161 $ 113,807 State 54,744 27,530 34,575 Total current income tax expense 186,303 105,691 148,382 Deferred Income Tax Expense (Benefit): Federal 15,799 (28,740) 5,062 State 13,273 (1,778) 10,860 Total deferred income tax expense (benefit) 29,072 (30,518) 15,922 Total income tax expense $ 215,375 $ 75,173 $ 164,304 The following table presents a reconciliation of the recorded income tax expense to the amount of taxes computed by applying the applicable federal statutory income tax rates of 21% for 2021, 2020, and 2019 to earnings before income taxes: Year Ended December 31, 2021 2020 2019 (In thousands) Computed expected income tax (benefit) expense at federal statutory rate $ 172,690 $ (244,104) $ 132,917 State tax (benefit) expense, net of federal tax benefit 55,682 (77,934) 43,575 Goodwill impairment — 407,232 — Tax‑exempt interest benefit (12,312) (5,202) (8,092) Increase in cash surrender value of life insurance (1,367) (1,309) (1,298) Low income housing tax credits, net of amortization (6,430) (4,605) (3,217) Nondeductible employee compensation 4,660 2,830 4,430 Nondeductible FDIC premiums 2,535 2,383 1,302 Change in unrecognized tax benefits (860) (187) 941 Valuation allowance change (16,201) (5,288) (32,036) Expired capital loss carryforward — — 3,136 State tax refunds — (2,554) — State rate and apportionment changes 16,330 4,217 19,138 Other, net 648 (306) 3,508 Recorded income tax expense $ 215,375 $ 75,173 $ 164,304 The Company recognized $33.6 million , $28.1 million, and $20.0 million of tax credits and other tax benefits associated with its investments in LIHTC partnerships for the years ended December 31, 2021, 2020, and 2019. The amount of amortization of such investments reported in income tax expense under the proportional amortization method of accounting was $27.1 million f or 2021, $23.5 million for 2020, and $16.7 million for 2019. At December 31, 2021, w e had no federal net operating loss carryforwards and approximately $314.4 million of unused state net operating loss carryforwards available to be applied against future taxable income. A majority of the state net operating loss carryforwards will expire in varying amounts from 2022 through 2040. A portion of the state net operating loss carryforwards generated after December 31, 2017 will carry forward indefinitely due to the state conformity to the federal net operating loss carryforward provisions as modified by the Tax Cuts and Jobs Act. As of December 31, 2021, for federal tax purposes, we had no foreign tax credit carryforwards. The foreign tax credit carryforward was fully utilized in 2021. The following table presents the tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities as of the dates indicated: December 31, 2021 2020 (In thousands) Deferred Tax Assets: Book allowance for loan losses in excess of tax specific charge-offs $ 76,384 $ 122,753 Interest on nonaccrual loans 3,150 3,335 Deferred compensation 5,209 5,298 Foreclosed assets valuation allowance 289 334 State tax benefit 6,768 3,108 Net operating losses 19,646 34,658 Accrued liabilities 29,057 20,477 Unrealized loss from FDIC‑assisted acquisitions 886 1,310 Tax mark-to-market on loans 6,543 2,155 Equity investments — 2,115 Goodwill — 451 Tax credits — 2,232 Lease liability 39,095 38,521 Gross deferred tax assets 187,027 236,747 Valuation allowance (24,882) (41,083) Deferred tax assets, net of valuation allowance 162,145 195,664 Deferred Tax Liabilities: Core deposit and customer relationship intangibles 1,746 5,877 Deferred loan fees and costs 2,337 3,763 Unrealized gain on securities available‑for‑sale 24,972 66,098 Premises and equipment, principally due to differences in depreciation 1,466 3,120 FHLB stock 613 637 Subordinated debt 17,110 18,639 Equity investments 5,475 — Goodwill 6,166 — Operating leases 86,000 95,026 ROU assets 34,129 33,345 Other 1,712 794 Gross deferred tax liabilities 181,726 227,299 Total net deferred tax liabilities $ (19,581) $ (31,635) Based upon our taxpaying history and estimates of taxable income over the years in which the items giving rise to the deferred tax assets are deductible, management believes it is more likely than not the Company will realize the benefits of these deferred tax assets. The Company had net income taxes receivable of $36.3 million and $59.3 million at December 31, 2021 and December 31, 2020. As of December 31, 2021 and 2020, the Company had a valuation allowance of $24.9 million and $41.1 million against DTAs. Periodic reviews of the carrying amount of DTAs are made to determine if a valuation allowance is necessary. A valuation allowance is required, based on available evidence, when it is more likely than not that all or a portion of a DTA will not be realized due to the inability to generate sufficient taxable income in the period and/or of the character necessary to utilize the benefit of the DTA. All available evidence, both positive and negative, that may affect the realizability of the DTA is identified and considered in determining the appropriate amount of the valuation allowance. It is more likely than not that these deferred tax assets subject to a valuation allowance will not be realized primarily due to their character and/or the expiration of the carryforward periods. The net reduction in the total valuation allowance during the year ended December 31, 2021 was $16.2 million. Of this amount, $14.3 million c onsi sted principally of adjustments to state net operating loss DTAs. The adjustment to the state operating loss DTAs at December 31, 2021, was a result of changes in state apportionments. The DTAs had been subjected to a full valuation allowance because the Company had previously determined that they were more likely than not to be expired unused. As a result, the change in the tax attributes supporting th e $14.3 million of deferred tax assets had no impact on the Company's effective tax rate for the year ended December 31, 2021. The remaining $1.9 million reduction in the valuation allowance was primarily due to an increase in the amount of foreign tax credit expected to be utilized pr ior to expiration and adjustments to capital deferred tax assets. The following table summarizes the activity related to the Company's unrecognized tax benefits for the years indicated: Year Ended December 31, Unrecognized Tax Benefits 2021 2020 (In thousands) Balance, beginning of year $ 3,376 $ 10,748 Increase based on tax positions related to prior years — 879 Reductions for tax positions related to prior years (698) (7,813) Reductions for tax positions as a result of a lapse of the applicable statute of limitations (123) (438) Balance, end of year $ 2,555 $ 3,376 Unrecognized tax benefits that would affect the effective tax rate if recognized $ 2,555 $ 3,376 Due to the potential for the resolution of federal and state examinations and the expiration of various statutes of limitations, it is reasonably possible that our gross unrecognized tax benefits may decrease within the next twelve months by as much as $2.1 million. We recognize interest and penalties related to unrecognized tax benefits as a component of income tax expense. For the years ended December 31, 2021 and December 31, 2020, we reduced our accrual for interest expense and penalties and recognized tax benefits of $0.2 million for 2021 and $0.2 million for 2020. For the year ended December 31, 2019, we recognized $0.7 million in expense for interest expense and penalties. We had $1.1 million and $1.3 million accrued for the payment of interest and penalties as of December 31, 2021 and 2020. We file federal and state income tax returns with the Internal Revenue Service ("IRS") and various state and local jurisdictions and generally remain subject to examinations by these tax jurisdictions for tax years 2017 through 2020. We are currently under examination by certain state jurisdictions for tax years 2015 through 2018. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2021 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | NOTE 17. EARNINGS (LOSS) PER SHARE The following table presents the computation of basic and diluted net earnings (loss) per share for the years indicated: Year Ended December 31, 2021 2020 2019 (Dollars in thousands, except per share data) Basic Earnings (Loss) Per Share: Net earnings (loss) $ 606,959 $ (1,237,574) $ 468,636 Less: earnings allocated to unvested restricted stock (1) (10,248) (1,782) (5,182) Net earnings (loss) allocated to common shares $ 596,711 $ (1,239,356) $ 463,454 Weighted-average basic shares and unvested restricted stock outstanding 119,349 118,463 120,468 Less: weighted-average unvested restricted stock outstanding (2,255) (1,610) (1,502) Weighted-average basic shares outstanding 117,094 116,853 118,966 Basic earnings (loss) per share $ 5.10 $ (10.61) $ 3.90 Diluted Earnings (Loss) Per Share: Net earnings (loss) allocated to common shares $ 596,711 $ (1,239,356) $ 463,454 Weighted-average diluted shares outstanding 117,094 116,853 118,966 Diluted earnings (loss) per share $ 5.10 $ (10.61) $ 3.90 ________________________ (1) Represents cash dividends paid to holders of unvested restricted stock, net of forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any. |
Revenue From Contracts With Cus
Revenue From Contracts With Customers Revenue From Contracts With Customers (Notes) | 12 Months Ended |
Dec. 31, 2021 | |
Revenue From Contracts With Customers [Abstract] | |
Revenue From Contracts With Customers | REVENUE FROM CONTRACTS WITH CUSTOMERS Revenue from contracts with customers is measured based on the consideration specified in the contract with a customer, and excludes amounts collected on behalf of third parties. The Company recognizes revenue from contracts with customers when it satisfies its performance obligations. Such performance obligations are typically satisfied as services are rendered and payment is generally collected at the time services are rendered, or on a monthly, quarterly, or annual basis. The Company had no material unsatisfied performance obligations as of December 31, 2021. In certain cases, other parties are involved with providing products and services to our customers. If the Company is a principal in the transaction (providing goods or services itself), revenues are reported based on the gross consideration received from the customer and any related expenses are reported gross in noninterest expense. If the Company is an agent in the transaction (arranging for another party to provide goods or services), the Company reports its net fee or commission retained as revenue. Rebates, waivers, and reversals are recorded as a reduction of revenue either when the revenue is recognized by the Company or at the time the rebate, waiver, or reversal is earned by the customer. The Company has elected the following practical expedients: (1) we do not disclose information about remaining performance obligations that have original expected durations of one year or less; and (2) we do not adjust the consideration from customers for the effects of a significant financing component if at contract inception the period between when the Company transfers the goods or services and when the customer pays for that good or service will be one year or less. Nature of Goods and Service s Substantially all of the Company's revenue, such as interest income on loans, investment securities, and interest-earning deposits in financial institutions, is specifically out-of-scope of ASC Topic 606. For the revenue that is in-scope, the following is a description of principal activities, separated by the timing of revenue recognition, from which the Company generates its revenue from contracts with customers: • Revenue earned at a point in time. Examples of revenue earned at a point in time are ATM transaction fees, wire transfer fees, NSF fees, and credit and debit card interchange fees. Revenue is generally derived from transactional information accumulated by our systems and is recognized as revenue immediately as the transactions occur or upon providing the service to complete the customer's transaction. The Company is the principal in each of these contracts with the exception of credit and debit card interchange fees, in which case the Company is acting as the agent and records revenue net of expenses paid to the principal. • Revenue earned over time. The Company earns certain revenue from contracts with customers monthly. Examples of this type of revenue are deposit account service fees, investment management fees, merchant referral services, MasterCard marketing incentives, and safe deposit box fees. Account service charges, management fees, and referral fees are recognized on a monthly basis while any transaction-based revenue is recorded as the activity occurs. Revenue is primarily based on the number and type of transactions and is generally derived from transactional information accumulated by our systems. Revenue is recorded in the same period as the related transactions occur or services are rendered to the customer. Disaggregation of Revenue The following table presents interest income and noninterest income, the components of total revenue, as disclosed in the consolidated statements of earnings (loss) and the related amounts which are from contracts with customers within the scope of ASC Topic 606. As illustrated here, substantially all of our revenue is specifically excluded from the scope of ASC Topic 606. Year Ended December 31, 2021 2020 2019 Total Revenue from Total Revenue from Total Revenue from Recorded Contracts with Recorded Contracts with Recorded Contracts with Revenue Customers Revenue Customers Revenue Customers (In thousands) Total interest income $ 1,158,729 $ — $ 1,103,491 $ — $ 1,219,893 $ — Noninterest income: Other commissions and fees 42,287 11,018 40,347 13,412 43,623 19,216 Leased equipment income 45,746 — 43,628 — 38,727 — Service charges on deposit accounts 13,269 13,269 10,351 10,351 14,637 14,637 Gain on sale of loans 1,733 — 2,139 — 1,114 — Gain on sale of securities 1,615 — 13,171 — 25,445 — Dividends and gains (losses) on equity investments 23,115 — 14,984 — (567) — Warrant income 49,341 — 10,609 — 8,669 — Other income 16,821 556 10,831 2,000 10,914 1,617 Total noninterest income 193,927 24,843 146,060 25,763 142,562 35,470 Total revenue $ 1,352,656 $ 24,843 $ 1,249,551 $ 25,763 $ 1,362,455 $ 35,470 The following table presents revenue from contracts with customers based on the timing of revenue recognition for the period indicated: Year Ended December 31, 2021 2020 2019 (In thousands) Products and services transferred at a point in time $ 11,713 $ 14,190 $ 19,253 Products and services transferred over time 13,130 11,573 16,217 Total revenue from contracts with customers $ 24,843 $ 25,763 $ 35,470 Contract Balances The following table provides information about receivables, contract assets and contract liabilities from contracts with customers as of the dates indicated: December 31, 2021 2020 (In thousands) Receivables, which are included in "Other assets" $ 1,066 $ 1,046 Contract assets, which are included in "Other assets" $ — $ — Contract liabilities, which are included in "Accrued interest payable and other liabilities" $ 229 $ 359 Contract liabilities relate to advance consideration received from customers for which revenue is recognized over the life of the contract. The change in contract liabilities for the year ended December 31, 2021 due to revenue recognized that was included in the contract liability balance at the beginning of the year was $130,000. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Stock-Based Compensation | NOTE 19. STOCK-BASED COMPENSATION At the annual meeting of stockholders held on May 11, 2021, the Company's stockholders approved the Amended and Restated PacWest Bancorp 2017 Stock Incentive Plan (the “Amended and Restated 2017 Plan”). The Company’s Amended and Restated 2017 Plan permits stock-based compensation awards to officers, directors, employees, and consultants and will remain in effect until December 31, 2026. The Amended and Restated 2017 Plan authorizes grants of stock-based compensation instruments to purchase or issue up to 6,650,000 shares, representing 4,000,000 shares originally approved for grant under the Original 2017 Stock Incentive Plan plus 2,650,000 shares added as result of the approval of the Amended and Restated 2017 Plan. As of December 31, 2021, there wer e 3,014,995 s hares available for grant under the Amended and Restated 2017 Plan. Restricted Stock Restricted stock amortization totale d $31.4 million , $23.7 million, and $26.2 million for the years ended December 31, 2021, 2020, and 2019. Such amounts are included in compensation expense on the accompanying consolidated statements of earnings (loss) and exclude $859,000 , $627,000, and $598,000 of stock-based compensation expense for the years ended December 31, 2021, 2020, and 2019 related to our directors, which is included in other expense on the accompanying consolidated statement of earnings (loss). The income tax benefit recognized in the consolidated statements of earnings (loss) related to this expense was $6.0 million, $5.8 million, and $6.8 million for the years ended December 31, 2021, 2020, and 2019. The amount of unrecognized compensation expense related to all unvested TRSAs and PRSUs as of December 31, 2021 total ed $69.0 million . Such expense is expected to be recognized over a weighted average period of 1.5 years. The following table presents a summary of restricted stock transactions during the year ended December 31, 2021: TRSAs PRSUs Weighted Weighted Average Average Number Grant Date Number Grant Date of Fair Value of Fair Value Year Ended December 31, 2021 Shares (Per Share) Units (Per Unit) Unvested restricted stock, beginning of year 1,608,126 $32.83 315,008 $42.77 Granted 1,433,698 $37.65 324,351 $32.19 Vested 622,572 $37.96 22,320 $54.07 Forfeited 107,172 $37.80 104,176 $49.00 Unvested restricted stock, end of year 2,312,080 $34.21 512,863 $34.32 The table above excludes 20,173 of immediately vested shares awarded to our directors at a weighted average price of $42.59 . Time-Based Restricted Stock Awards At December 31, 2021, there were 2,312,080 shares of unvested TRSAs outstanding pursuant to the Company's 2003 and 2017 Stock Incentive Plans (the "Plans"). The TRSAs generally vest over a service period of three TRSA grants are subject to "double-trigger" vesting in the event of a change in control of the Company, as defined in the Plans, and in the event an employee's employment is terminated within 24 months after the change in control by the Company without Cause or by the employee for Good Reason, as defined in the Plans, such awards will vest. The weighted average grant date fair value per share of TRSAs granted during 2021, 2020, and 2019 were $37.65, $20.84, and $38.66. The vesting date fair value of TRSAs that vested during 2021, 2020, and 2019 we re $26.7 million, $13.1 million, and $18.1 million. Performance-Based Restricted Stock Units At December 31, 2021, there wer e 512,863 units of unvested PRSUs that have been granted. The PRSUs will vest only if performance goals with respect to certain financial metrics are met over a three-year performance period. The PRSUs are not considered issued and outstanding until they vest. PRSUs are granted and initially expensed based on a target number. The number of shares that will ultimately vest based on actual performance will range from zero to a maximum of either 150% or 200% of target. Compensation expense related to PRSUs is based on the fair value of the underlying stock on the award date and is amortized over the vesting period using the straight-line method unless it is determined that: (1) attainment of the financial metrics is less than probable, in which case a portion of the amortization is suspended, or (2) attainment of the financial metrics is improbable, in which case a portion of the previously recognized amortization is reversed and also suspended. If it is determined that attainment of a financial measure higher than target is probable, the amortization will increase up to 150% or 200% of the target amortization amount. Annual PRSU expense may vary during the three-year performance period based upon changes in management's estimate of the number of shares that may ultimately vest. In the case where the performance target for the PRSU’s is based on a market condition (such as total shareholder return), the amortization is neither reversed nor suspended if it is subsequently determined that the attainment of the performance target is less than probable or improbable and the employee continues to meet the service requirement of the award. Upon a change in control, each PRSU will (i) be deemed earned at the target level with respect to all open performance periods if the change in control occurs within six months after the grant date, and (ii) be deemed earned at the actual performance level as of the date of the change in control if a change in control occurs more than six months after the grant date, and in both cases, the PRSU will cease to be subject to any further performance conditions, but will be subject to time-based service vesting following the change in control in accordance with the original performance period. The weighted average grant date fair value per share of PRSUs granted during 2021, 2020, and 2019 was $32.19, $36.20 and $40.39. The vesting date fair value of PRSUs that vested during 2021 and 2020 was $0.8 million, $2.7 million, and |
Benefit Plans
Benefit Plans | 12 Months Ended |
Dec. 31, 2021 | |
Benefit Plans [Abstract] | |
Benefits Plans | NOTE 20. BENEFIT PLANS 401(K) Plans The Company sponsors a defined contribution plan for the benefit of its employees. Participants are eligible to participate immediately as long as they are scheduled to work a minimum of 1,000 hours and are at least 18 years of age. Eligible participants may contribute up to 60% of their annual compensation, not to exceed the dollar limit imposed by the Internal Revenue Code. Employer contributions are determined annually by the Board of Directors in accordance with plan requirements and applicable tax code. Plan participants are immediately vested in matching contributions received from the Company. During 2021, the Company matched 50% of the first 6% contributed by plan participants. Effective January 1, 2022, the Company matches 50% of the first 8% contributed by plan participants. Expense related to 401(k) employer matching contributions was $5.7 million , $4.6 million and $4.1 million for the years ended December 31, 2021, 2020, and 2019. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2021 | |
Stockholders' Equity Attributable to Parent [Abstract] | |
Stockholders' Equity | NOTE 21. STOCKHOLDERS' EQUITY Common Stock Repurchased The Company's common stock repurchased consisted of: (1) restricted stock surrendered as treasury shares and (2) stock purchased under the Company's Stock Repurchase Programs and retired. Treasury Shares As a Delaware corporation, the Company records treasury shares for shares surrendered to the Company resulting from statutory payroll tax obligations arising from the vesting of restricted stock. The following table shows the dollar amount of shares surrendered, shares surrendered, and weighted average price per share for restricted stock surrendered as treasury shares for the years indicated: Year Ended December 31, Restricted Stock Surrendered as Treasury Shares 2021 2020 2019 Dollar amount of shares surrendered ( in thousands ) $ 8,505 $ 5,369 $ 8,449 Number of shares surrendered 199,018 213,578 218,531 Weighted average price per share $ 42.73 $ 25.14 $ 38.66 Stock Repurchase Programs The Stock Repurchase Program was initially authorized by PacWest's Board of Directors on October 17, 2016. On February 12, 2020 , PacWest's Board of Directors authorized a new Stock Repurchase Program to purchase shares of its common stock for an aggregate purchase price not to exceed $200 million, effective February 29, 2020. No shares were repurchased under the new Stock Repurchase Program prior to expiration on February 28, 2021. The following table shows the repurchase amounts, shares repurchased, and weighted average price per share for stock repurchases under the various Stock Repurchase Programs for the years indicated: Year Ended December 31, Stock Repurchases Under Stock Repurchase Programs 2021 2020 2019 Dollar amount of repurchases ( in thousands ) $ — $ 70,000 $ 154,516 Number of shares repurchased — 1,953,711 3,987,945 Weighted average price per share $ — $ 35.83 $ 38.75 |
Dividend Availability and Regul
Dividend Availability and Regulatory Matters | 12 Months Ended |
Dec. 31, 2021 | |
Dividend Availability and Regulatory Matters [Abstract] | |
Dividend Availability and Regulatory Matters | NOTE 22. DIVIDEND AVAILABILITY AND REGULATORY MATTERS Holders of Company common stock may receive dividends declared by the Board of Directors out of funds legally available under DGCL and certain federal laws and regulations governing the banking and financial services business. Our ability to pay dividends to our stockholders is subject to the restrictions set forth in DGCL and certain covenants contained in our subordinated debt and borrowing agreements. Notification to the FRB is also required prior to our declaring and paying dividends during any period in which our quarterly and/or cumulative twelve‑month net earnings are insufficient to fund the dividend amount, among other requirements. Should the FRB object to payment of dividends, we would not be able to make the payment until approval is received or we no longer need to provide notice under applicable regulations. It is possible, depending upon the financial condition of the Bank and other factors, that the FRB, the FDIC, or the DFPI, could assert that payment of dividends or other payments is an unsafe or unsound practice. The Bank is subject to restrictions under certain federal and state laws and regulations governing banks which limit its ability to transfer funds to the holding company through intercompany loans, advances or cash dividends. Dividends paid by California state-chartered banks such as Pacific Western are regulated by the DFPI and FDIC under their general supervisory authority as it relates to a bank’s capital requirements. The Bank may declare a dividend without the approval of the DFPI and FDIC as long as the total dividends declared in a calendar year do not exceed either the retained earnings or the total of net earnings for the three previous fiscal years less any dividend paid during such period. The Bank had a cumulative net loss of $155.3 million during the three fiscal years of 2021, 2020, and 2019, compared to dividends of $776.0 million paid by the Bank during that same period. During 2021, PacWest received $182.0 million in dividends from the Bank. Since the Bank had an accumulated deficit of $1.5 billion at December 31, 2021, for the foreseeable future, dividends from the Bank to PacWest will continue to require DFPI and FDIC approval. PacWest, as a bank holding company, is subject to regulation by the FRB under the BHCA. The FDICIA required that the federal regulatory agencies adopt regulations defining capital tiers for banks: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of the Company’s and the Bank’s assets, liabilities and certain off‑balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios of common equity Tier 1, Tier 1, and total capital to risk‑weighted assets ("total capital ratio"), and of Tier I capital to average assets, adjusted for goodwill and other non-qualifying intangible assets and other assets (“leverage ratio”). Common equity Tier 1 capital includes common stockholders’ equity less goodwill and certain other deductions (including a portion of servicing assets and the after‑tax unrealized net gains and losses on securities available‑for‑sale). Tier 1 capital includes common equity Tier 1 plus additional Tier 1 capital instruments meeting certain requirements. Total capital includes Tier 1 capital and other items such as subordinated debt and the allowance for credit losses. All three measures are stated as a percentage of risk‑weighted assets, which are measured based on their perceived credit risk and include certain off‑balance sheet exposures, such as unfunded loan commitments and letters of credit. Regulatory capital requirements limit the amount of deferred tax assets that may be included when determining the amount of regulatory capital. Deferred tax asset amounts in excess of the calculated limit are disallowed from regulatory capital. At December 31, 2021, such disallowed amounts were $10,000 for the Company and $41.0 million for the Bank. No assurance can be given that the regulatory capital deferred tax asset limitation will not increase in the future or that the Company or Bank will not have increased deferred tax assets that are disallowed. Banks considered to be “adequately capitalized” are required to maintain a minimum total capital ratio of 8.0%, a minimum Tier 1 capital ratio of 6.0%, a minimum common equity Tier 1 capital ratio of 4.5%, and a minimum leverage ratio of 4.0%. Banks considered to be “well capitalized” must maintain a minimum total capital ratio of 10.0%, a minimum Tier 1 capital ratio of 8.0%, a minimum common equity Tier 1 capital ratio of 6.5%, and a minimum leverage ratio of 5.0%. As of December 31, 2021, the most recent notification date to the regulatory agencies, the Company and the Bank are each “well capitalized” under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the Company’s or any of the Bank’s categories. Management believes, as of December 31, 2021, that the Company and the Bank met all capital adequacy requirements to which we are subject. Basel III, the comprehensive regulatory capital rules for U.S. banking organizations, requires all banking organizations to maintain a capital conservation buffer above the minimum risk-based capital requirements in order to avoid certain limitations on capital distributions, stock repurchases and discretionary bonus payments to executive officers. The capital conservation buffer is exclusively comprised of common equity Tier 1 capital, and it applies to each of the three risk-based capital ratios but not to the leverage ratio. Effective January 1, 2019, the capital conservation buffer is fully phased-in at 2.5%, such that the common equity Tier 1, Tier 1 and total capital ratio minimums inclusive of the capital conservation buffers were 7%, 8.5%, and 10.5%. At December 31, 2021, the Company and Bank were in compliance with the capital conservation buffer requirements. The Company and Bank elected the CECL 5-year regulatory transition guidance for calculating regulatory capital ratios and the December 31, 2021 ratios include this election. This guidance allows an entity to add back to capital 100% of the capital impact from the day one CECL transition adjustment and 25% of subsequent increases to the allowance for credit losses through December 31, 2022. This cumulative amount will then be phased out of regulatory capital over the next three years. The following tables present actual capital amounts and ratios for the Company and the Bank as of the dates indicated: Well Capitalized Capital Minimum Conservation Actual Requirement Buffer Balance Ratio Balance Ratio Requirement (Dollars in thousands) December 31, 2021 Tier I leverage capital (to average assets): PacWest Bancorp Consolidated $ 2,657,575 6.84% $ 1,942,017 5.00% N/A Pacific Western Bank $ 2,717,374 7.00% $ 1,940,510 5.00% N/A CET1 capital (to risk-weighted assets): PacWest Bancorp Consolidated $ 2,526,575 8.86% $ 1,853,073 6.50% 7.00% Pacific Western Bank $ 2,717,374 9.56% $ 1,847,853 6.50% 7.00% Tier I capital (to risk-weighted assets) PacWest Bancorp Consolidated $ 2,657,575 9.32% $ 2,280,705 8.00% 8.50% Pacific Western Bank $ 2,717,374 9.56% $ 2,274,281 8.00% 8.50% Total capital (to risk-weighted assets): PacWest Bancorp Consolidated $ 3,619,190 12.69% $ 2,850,881 10.00% 10.50% Pacific Western Bank $ 3,355,403 11.80% $ 2,842,851 10.00% 10.50% Well Capitalized Capital Minimum Conservation Actual Requirement Buffer Balance Ratio Balance Ratio Requirement (Dollars in thousands) December 31, 2020 Tier I leverage capital (to average assets): PacWest Bancorp Consolidated $ 2,403,721 8.55% $ 1,404,880 5.00% N/A Pacific Western Bank $ 2,673,960 9.53% $ 1,403,208 5.00% N/A CET1 capital (to risk-weighted assets): PacWest Bancorp Consolidated $ 2,403,721 10.53% $ 1,484,450 6.50% 7.00% Pacific Western Bank $ 2,673,960 11.73% $ 1,481,599 6.50% 7.00% Tier I capital (to risk-weighted assets) PacWest Bancorp Consolidated $ 2,403,721 10.53% $ 1,827,015 8.00% 8.50% Pacific Western Bank $ 2,673,960 11.73% $ 1,823,506 8.00% 8.50% Total capital (to risk-weighted assets): PacWest Bancorp Consolidated $ 3,141,992 13.76% $ 2,283,769 10.00% 10.50% Pacific Western Bank $ 2,959,853 12.99% $ 2,279,383 10.00% 10.50% We issued or assumed through mergers subordinated debt to trusts that were established by us or entities we acquired, which, in turn, issued trust preferred securities. On April 30, 2021, the Bank completed the sale of $400 million aggregate principal amount of 3.25% Fixed-to-Floating Rate Subordinated Notes due May 1, 2031. For further information, see Note 12. Borrowings and Subordinated Debt. The carrying value of subordinated debt totaled $863.3 million at December 31, 2021. At December 31, 2021, $131.0 million of the trust preferred securities were included in the Company's Tier I capital under the phase-out limitations of Basel III, and $718.2 million was included in Tier II capital. Interest payments on subordinated debt are considered dividend payments under the FRB regulations and subject to the same notification requirements for declaring and paying dividends on common stock. |
Condensed Financial Information
Condensed Financial Information Of Parent Company | 12 Months Ended |
Dec. 31, 2021 | |
Condensed Financial Information Of Parent Company [Abstract] | |
Condensed Financial Information Of Parent Company | NOTE 23. CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY The following tables present the parent company only condensed balance sheets and the related condensed statements of earnings (loss) and condensed statements of cash flows as of and for the years indicated: Parent Company Only December 31, Condensed Balance Sheets 2021 2020 (In thousands) Assets: Cash and cash equivalents $ 176,923 $ 127,849 Investments in subsidiaries 3,845,653 3,530,823 Other assets 122,324 75,835 Total assets $ 4,144,900 $ 3,734,507 Liabilities: Subordinated debt $ 135,055 $ 135,055 Other liabilities 10,215 4,501 Total liabilities 145,270 139,556 Stockholders’ equity 3,999,630 3,594,951 Total liabilities and stockholders’ equity $ 4,144,900 $ 3,734,507 Parent Company Only Year Ended December 31, Condensed Statements of Earnings (Loss) 2021 2020 2019 (In thousands) Miscellaneous income $ 52,955 $ 14,276 $ 9,739 Dividends from Bank subsidiary 182,000 258,000 336,000 Total income 234,955 272,276 345,739 Interest expense 3,527 4,394 6,637 Operating expenses 18,913 11,184 9,833 Total expenses 22,440 15,578 16,470 Earnings before income taxes and equity in undistributed earnings of subsidiaries 212,515 256,698 329,269 Income tax (expense) benefit (6,188) (3,268) 2,202 Earnings before equity in undistributed earnings of subsidiaries 206,327 253,430 331,471 Equity in (distributions in excess of) undistributed earnings or loss of subsidiaries 400,632 (1,491,004) 137,165 Net earnings (loss) $ 606,959 $ (1,237,574) $ 468,636 Parent Company Only Year Ended December 31, Condensed Statements of Cash Flows 2021 2020 2019 (In thousands) Cash flows from operating activities: Net earnings (loss) $ 606,959 $ (1,237,574) $ 468,636 Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: Change in other assets (67,242) (29,568) (35,510) Change in liabilities 5,714 780 (1,661) Earned stock compensation 32,223 24,363 26,815 (Equity in) distributions in excess of undistributed earnings or loss of subsidiaries (400,632) 1,491,004 (137,165) Net cash provided by operating activities 177,022 249,005 321,115 Cash flows from investing activities: Net cash used in investing activities — — — Cash flows from financing activities: Common stock repurchased and restricted stock surrendered (8,505) (75,369) (162,965) Cash dividends paid, net (119,443) (159,748) (289,048) Net cash used in financing activities (127,948) (235,117) (452,013) Net increase (decrease) in cash and cash equivalents 49,074 13,888 (130,898) Cash and cash equivalents, beginning of year 127,849 113,961 244,859 Cash and cash equivalents, end of year $ 176,923 $ 127,849 $ 113,961 |
Related Party Disclosures
Related Party Disclosures | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure | NOTE 24. RELATED PARTY TRANSACTIONS On December 30, 2021, the Company purchased in a private placement 1,000,000 depository shares each representing an ownership interest in a share of non-voting Fixed-Rate, Non-Cumulative Perpetual Preferred Stock of a privately owned non-affiliated bank holding company for the purchase price of $25 per depository share for a total of $25.0 million for investment purposes. The Company’s Chairman of the Board of Directors (the "Chairman") is also a director of the non-affiliated bank holding company. In the normal course of business, the Bank purchases corporate securities for investment purposes. At December 31, 2021, one senior debt security with a par value of $25.0 million and three subordinated debt securities with par values totaling $24.5 million were in our securities portfolio. These four securities were issued by non-affiliated bank holding companies of which the Chairman is also a board member. The transactions described above were approved by the Audit Committee of the Board of Directors in accordance with our related party transactions policy. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 25. SUBSEQUENT EVENTS Stock Repurchase Program On February 15, 2022, PacWest's Board of Directors authorized a new Stock Repurchase Program, effective March 1, 2022, to repurchase shares of its common stock for an aggregate purchase price not to exceed $100 million with a program maturity date of February 28, 2023. Common Stock Dividend On February 1, 2022, the Company announced that the Board of Directors had declared a quarterly cash dividend of $0.25 per common share. The cash dividend is payable on February 28, 2022 to stockholders of record at the close of business on February 15, 2022. We have evaluated events that have occurred subsequent to December 31, 2021 and have concluded there are no subsequent events that would require recognition in the accompanying consolidated financial statements. |
Nature of Operations and Summ_2
Nature of Operations and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business Combinations and Other Purchase of Business Transactions | We generate our revenue primarily from interest received on loans and leases and, to a lesser extent, from interest received on investment securities, and fees received in connection with deposit services, extending credit and other services offered, including treasury management and investment management services. Our major operating expenses are the interest paid by the Bank on deposits and borrowings, compensation, occupancy, and general operating expenses. |
Recently issued Accounting Standards | (a) Accounting Standards Adopted in 2021 Effective January 1, 2021, the Company adopted ASU 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ” which simplifies the accounting for income taxes by eliminating certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The amendment also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements. Effective January 1, 2021, the Company adopted ASU 2020-01, “ Investments – Equity Securities (Topic 321), Investments – Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) ” which clarifies that entities that apply the measurement alternative in ASC 321 should consider observable transactions that result in entities initially applying or discontinuing the use of the equity method of accounting under ASC 323. The guidance also clarifies that certain forward contracts and purchased options on equity securities that are not deemed to be in-substance common stock under ASC 323 or accounted for as derivatives under ASC 815 are in the scope of ASC 321. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements. Effective January 1, 2021, the Company adopted ASU 2020-08, “ Codification Improvements to Subtopic 310-20, Receivables – Nonrefundable Fees and Other Costs ” which clarifies the Company should reevaluate whether a callable debt security that has multiple call dates is within the scope of ASC 310-20-35-33 at each reporting period. ASC 310-20-35-33 requires that, to the extent the amortized cost basis of an individual callable debt security exceeds the amount repayable by the issuer at the next call date, the excess should be amortized to the earliest call date. As the Company’s accounting policy to amortize premiums on investments in callable debt securities to the earliest call date is consistent with the manner required by ASU 2020-08, the adoption of this standard had no impact on the Company’s consolidated financial statements. In August 2021, the FASB issued ASU 2021-06, " Presentation of Financial Statements (Topic 205), Financial Services – Depository and Lending (Topic 942), and Financial Services – Investment Companies (Topic 946): Amendments to SEC Paragraphs Pursuant to SEC Final Rule Releases No. 33-10786, Amendments to Financial Disclosures about Acquired and Disposed Businesses, and No. 33-10835, Update of Statistical Disclosures for Bank and Savings and Loan Registrants (SEC Update)," to amend SEC paragraphs in the Accounting Standards Codification to reflect the issuance of SEC Release No. 33-10786, Amendments to Financial Disclosures about Acquired and Disposed Businesses, and No. 33-10835, Update of Statistical Disclosures for Bank and Savings and Loan Registrants. The Company adopted Rule 33-10786 on January 1, 2021 on its effective date and it did not have a material impact on the Company’s consolidated financial statements. The Company also adopted Rule 33-10835 in conjunction with the completion of our Annual Report on Form 10-K for the fiscal year ended December 31, 2021. The adoption of this disclosure guidance did not have a material impact on our consolidated financial statements. Effective Effect on the Financial Statements Standard Description Date or Other Significant Matters ASU 2020-04, " Reference Rate Reform (Topic 848) " and ASU 2021-01, “ Reference Rate Reform (Topic 848): Scope) " This standard provides optional expedients and exceptions for applying GAAP to loan and lease agreements, derivative contracts, and other agreements affected by the anticipated transition away from LIBOR toward new interest reference rates. For agreements that are modified because of reference rate reform and that meet certain scope guidance: (i) modifications of loan agreements should be accounted for by prospectively adjusting the effective interest rate and the modification will be considered “minor” so that any existing unamortized origination fees/costs would carry forward and continue to be amortized and (ii) modifications of lease agreements should be accounted for as a continuation of the existing agreement with no reassessments of the lease classification and the discount rate or remeasurements of lease payments that otherwise would be required for modifications not accounted for as separate contracts. Additionally, the amendments in ASU 2021-01 clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. Specifically, certain provisions in Topic 848, if elected by an entity, apply to derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. ASU 2020-04 is effective immediately, as of March 12, 2020, and may be applied prospectively to contract modifications made and hedging relationships entered into on or before December 31, 2022. ASU 2021-01 is also effective immediately. Entities may elect to apply the amendments on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or on a prospective basis to new modifications from any date within an interim period that includes or is subsequent to January 7, 2021 and up to December 31, 2022. Effective upon the issuance date of March 12, 2020, and once adopted, will apply to contract modifications made and hedging relationships entered into on or before December 31, 2022. The Company has established a cross-functional project team and implementation plan to facilitate the LIBOR transition. As of December 31, 2021, the Company permanently ceased originating any new loans or entering into any transaction that would increase its LIBOR-based exposure. For all new variable-rate and hybrid loans, the Company primarily offers Prime and SOFR as the variable-rate index, but may consider alternate rates such as the American Interbank Offered Rate (“Ameribor”) and others based on market conditions and/or the type of loan or financial instrument. The Company has completed its readiness efforts to identify loans and other financial instruments that are impacted by the discontinuance of LIBOR. The Company has also completed its review for fallback language contained in contracts for LIBOR-based loans and other financial instruments and has begun to execute a transition plan to amend those legacy contracts maturing after June 30, 2023 that do not have or have inadequate fallback language by adding fallback language or to convert the base rate of the contract to a SOFR-based rate or another rate or index offered by the Company. The Company will also continue to assess impacts to its operations, financial models, data and technology as part of our transition plan. The Company is currently evaluating the impact of this Update on its consolidated financial statements but does not expect it to have a material impact. Effective Effect on the Financial Statements Standard Description Date or Other Significant Matters ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers This standard requires that an entity (acquirer) recognizes and measures contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. At acquisition date, an acquirer should account for the related revenue contracts with customers in accordance with Topic 606 as if it had originated the contracts. The acquirer should consider the terms of the acquired contracts, such as timing of payment, identify each performance obligation in the contracts and allocate the total transaction price to each identified performance obligation on a relative standalone selling price basis as of contract inception or contract modification to determine what should be recorded at the acquisition date. The amendments improve comparability by providing consistent recognition and measurement guidance for revenue contracts with customers whether they are acquired and not acquired in a business combination. The amendments should be applied prospectively to business combinations occurring on or after the effective date. Additionally, early adoption is permitted. January 1, 2023 The Company has not yet determined the effect of the adoption of ASU 2021-08 on the Company’s consolidated financial statements. |
Basis of Presentation | (b) Basis of Presentation The accounting and reporting policies of the Company are in accordance with U.S. generally accepted accounting principles, which we may refer to as U.S. GAAP. In the opinion of management, all significant intercompany accounts and transactions have been eliminated and adjustments, consisting solely of normal recurring accruals and considered necessary for the fair presentation of financial statements have been included. |
Use of Estimates | Use of EstimatesThe Company has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period to prepare these consolidated financial statements in conformity with U.S. GAAP. Actual results could differ from those estimates. Material estimates subject to change in the near term include, among other items, the allowance for credit losses (the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments), the carrying value of goodwill and other intangible assets, and the realization of deferred tax assets. These estimates may be adjusted as more current information becomes available, and any adjustment may be significant. |
Cash and Cash Equivalents | Cash and Cash EquivalentsFor purposes of the consolidated statements of cash flows, cash and cash equivalents consist of: (1) cash and due from banks, (2) interest‑earning deposits in financial institutions, and (3) securities purchased under resale agreements. Interest‑earning deposits in financial institutions represent mostly cash held at the FRBSF, the majority of which is immediately available. |
Investment Securities | Investment in Debt Securities We determine the classification of securities at the time of purchase. If we have the intent and the ability at the time of purchase to hold securities until maturity, they are classified as held‑to‑maturity and stated at amortized cost. We do not classify any securities as held-to-maturity. Securities to be held for indefinite periods of time, but not necessarily to be held‑to‑maturity or on a long‑term basis, are classified as available‑for‑sale and carried at estimated fair value, with unrealized gains or losses reported as a separate component of stockholders’ equity in accumulated other comprehensive income (loss), net of applicable income taxes. Securities available‑for‑sale include securities that management intends to use as part of its asset/liability management strategy and that may be sold in response to changes in interest rates, prepayment risk, and other related factors. Securities are individually evaluated for appropriate classification when acquired. As a result, similar types of securities may be classified differently depending on factors existing at the time of purchase. The carrying values of all securities are adjusted for amortization of premiums and accretion of discounts using the interest method. Premiums on callable securities are amortized to the earliest call date. Realized gains or losses on the sale of securities, if any, are determined using the amortized cost of the specific securities sold. Such gains or losses are included in "Gain on sale of securities" on the consolidated statements of earnings (loss). Prior to January 1, 2020, debt securities available-for-sale were measured at fair value and declines in the fair value were reviewed to determine whether the impairment was other-than-temporary. If the decline in fair value was considered temporary, the decline in fair value below the amortized cost basis of a security was recognized in other comprehensive income (loss). If we did not expect to recover the entire amortized cost basis of the security, then an other-than-temporary impairment was considered to have occurred. The cost basis of the security was written down to its estimated fair value and the amount of the write-down was recognized through a charge to earnings. If the amount of the amortized cost basis expected to be recovered increased in a future period, the cost basis of the security was not increased but rather recognized prospectively through interest income. Effective January 1, 2020, upon the adoption of ASU 2016-13, " Financial Instruments - Credit Losses (ASC 326): Measurement of Credit Losses on Financial Instruments ," debt securities available-for-sale are measured at fair value and are subject to impairment testing. A security is impaired if the fair value of the security is less than its amortized cost basis. When an available-for-sale debt security is considered impaired, the Company must determine if the decline in fair value has resulted from a credit-related loss or other factors and then, (1) recognize an allowance for credit losses by a charge to earnings for the credit-related component (if any) of the decline in fair value, and (2) recognize in other comprehensive income (loss) any non-credit related components (if any) of the fair value decline. If the amount of the amortized cost basis expected to be recovered increases in a future period, the valuation allowance would be reduced, but not more than the amount of the current existing allowance for that security. |
Loans and Leases | Loans and Leases Originated loans. Loans are originated by the Company with the intent to hold them for investment and are stated at the principal amount outstanding, net of unearned income. Unearned income includes deferred unamortized nonrefundable loan fees and direct loan origination costs. Net deferred fees or costs are recognized as an adjustment to interest income over the contractual life of the loans primarily using the effective interest method or taken into income when the related loans are paid off or sold. The amortization of loan fees or costs is discontinued when a loan is placed on nonaccrual status. Interest income is recorded on an accrual basis in accordance with the terms of the respective loan. Purchased loans. Purchased loans are stated at the principal amount outstanding, net of unearned discounts or unamortized premiums. All loans acquired in our acquisitions are initially measured and recorded at their fair value on the acquisition date. A component of the initial fair value measurement is an estimate of the credit losses over the life of the purchased loans. Purchased loans are also evaluated to determine if they have experienced a more-than-insignificant deterioration in credit quality since origination or issuance as of the acquisition date and are classified as either (i) loans purchased without evidence of deteriorated credit quality (“non-PCD loans”), or (ii) loans purchased that have experienced a more-than-insignificant deterioration in credit quality, referred to as purchased credit deteriorated loans ("PCD loans”). Acquired non‑PCD loans. Acquired non‑PCD loans are those loans for which there was no evidence of a more-than-insignificant credit deterioration at their acquisition date and it was probable that we would be able to collect all contractually required payments. Acquired non‑PCD loans, together with originated loans, are referred to as Non‑PCD loans. Purchase discounts or premiums on acquired non‑PCD loans are recognized as an adjustment to interest income over the contractual life of such loans using the effective interest method or taken into income when the related loans are paid off or sold. Purchased loans with credit deterioration. Prior to January 1, 2020, purchased credit impaired loans were accounted for in accordance with ASC Subtopic 310-30, “ Loans and Debt Securities Acquired with Deteriorated Credit Quality.” At the time of acquisition, these loans were recorded at estimated fair value based upon estimated future cash flows with no related allowance for credit losses. Effective January 1, 2020, upon the adoption of ASU 2016-13, an entity records purchased financial assets with credit deterioration ("PCD assets") at the purchase price plus the allowance for credit losses expected at the time of acquisition. This allowance is recognized through a gross-up that increases the amortized cost basis of the asset with no effect on net income. Subsequent changes (favorable and unfavorable) in expected cash flows are recognized immediately in net income by adjusting the related allowance. Leases to customers. We provide equipment financing to our customers primarily with direct financing and operating leases. For direct financing leases, lease receivables are recorded on the balance sheet but the leased property is not, although we generally retain legal title to the leased property until the end of each lease. Direct financing leases are stated at the net amount of minimum lease payments receivable, plus any unguaranteed residual value, less the amount of unearned income and net acquisition discount at the reporting date. Direct lease origination costs are amortized using the effective interest method over the life of the leases. Leases acquired in an acquisition are initially measured and recorded at their fair value on the acquisition date. Purchase discount or premium on acquired leases is recognized as an adjustment to interest income over the contractual life of the leases using the effective interest method or taken into income when the related leases are paid off. Direct financing leases are subject to our accounting for allowance for loans and leases. We provide equipment financing through operating leases where we facilitate the purchase of equipment leased to customers. The equipment is shown on our consolidated balance sheets as "Equipment leased to others under operating leases" and is depreciated to its estimated residual value at the end of the lease term, shown as "Leased equipment depreciation" in the consolidated statements of earnings (loss), according to our fixed asset accounting policy. We receive periodic rental income payments under the leases, which are recorded as "Noninterest income" in the consolidated statements of earnings (loss). Delinquent or past due loans and leases. Loans and leases are considered delinquent when principal or interest payments are past due 30 days or more. Delinquent loans may remain on accrual status between 30 days and 89 days past due. Nonaccrual loans and leases. When we discontinue the accrual of interest on a loan or lease it is designated as nonaccrual. We discontinue the accrual of interest on a loan or lease generally when a borrower's principal or interest payments or a lessee's payments are past due 90 days or when, in the opinion of management, there is a reasonable doubt as to collectability in the normal course of business. Loans with interest or principal payments past due 90 days or leases with payments past due 90 days may be accruing if the loans or leases are concluded to be well-secured and in the process of collection; however, these loans or leases are still reported as nonperforming. When loans or leases are placed on nonaccrual status, all interest previously accrued but not collected is reversed against current period interest income. Interest on nonaccrual loans or leases is subsequently recognized only to the extent that cash is received and the loan principal balance or lease balance is deemed collectable. Loans or leases are restored to accrual status when the loans or leases become both well‑secured and are in the process of collection. Individually Evaluated Loans and Leases . Loans and leases that do not share similar risk characteristics with other financial assets are individually evaluated for impairment and excluded from loan pools used within the collective evaluation of estimated credit losses . We defined the following criteria for what constitutes a “default,” which results in a loan no longer sharing similar risk characteristics with other loans, and therefore requires an individual evaluation for expected credit losses. The criteria for default may include any one of the following: • On nonaccrual status, • Modified under a TDR, • Payment delinquency of 90 days or more, • Partial charge-off recognized, • Risk rated doubtful or loss, or • Reasonably expected to be modified under a TDR. Defaulted loans and leases with outstanding balances over $250,000 are reviewed individually for expected credit loss. Individually evaluated loans are measured at the present value of the expected future cash flows discounted at the loan's initial effective interest rate, unless the loans are collateral dependent, in which case loan impairment is based on the estimated fair value of the underlying collateral. A loan is considered collateral-dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. The fair value of each loan’s collateral is generally based on estimated market prices from an independently prepared appraisal, which is then adjusted for the cost related to liquidating such collateral. An individually evaluated reserve and/or charge off would be recognized when the present value of expected future cash flows or the fair value of the underlying collateral is below the amortized cost of the loan. If the measured amount of any individually reviewed loan exceeds its amortized cost, further review is required to determine whether a positive allowance should be added (but only up to amounts previously written off) to its amortized cost basis in order to reflect the net amount expected to be collected. Troubled debt restructurings. A loan is classified as a troubled debt restructuring when we grant a concession to a borrower experiencing financial difficulties that we otherwise would not consider under our normal lending policies. These concessions may include a reduction of the interest rate, principal or accrued interest, extension of the maturity date or other actions intended to minimize potential losses. All modifications of criticized loans are evaluated to determine whether such modifications are troubled debt restructurings as outlined under ASC Subtopic 310‑40, “Troubled Debt Restructurings by Creditors.” Loans restructured with an interest rate equal to or greater than that of a new loan with comparable market risk at the time the loan is modified may be excluded from certain restructured loan disclosures in years subsequent to the restructuring if the loans are in compliance with their modified terms. Between March 2020 and December 2021, the Company granted various commercial and consumer loan modifications to provide borrowers relief from the economic impacts of COVID-19. In accordance with the Coronavirus Aid, Relief, and Economic Security ("CARES") Act, the Company elected to not apply TDR classification to COVID-19 related loan modifications that met all of the requisite criteria as stipulated in the CARES Act. A loan that has been placed on nonaccrual status that is subsequently restructured will usually remain on nonaccrual status until the borrower is able to demonstrate repayment performance in compliance with the restructured terms for a sustained period of time, typically for six months. A restructured loan may return to accrual status sooner based on other significant events or circumstances. A loan that has not been placed on nonaccrual status may be restructured and such loan may remain on accrual status after such restructuring. In these circumstances, the borrower has made payments before and after the restructuring. Generally, this restructuring involves maturity extensions, a reduction in the loan interest rate and/or a change to interest‑only payments for a period of time. Loan modifications that qualify as troubled debt restructurings are individually evaluated for expected credit losses based on the present value of expected cash flows discounted at the loan’s original effective interest rate or based on the fair value of the collateral if the loan is collateral-dependent. Impaired loans and leases. Prior to January 1, 2020, a loan or lease was considered impaired when it was probable that we would be unable to collect all amounts due according to the contractual terms of the loan or lease agreement. Impaired loans and leases included loans and leases on nonaccrual status and performing troubled debt restructured loans. Income from impaired loans was recognized on an accrual basis unless the loan was on nonaccrual status. Income from loans on nonaccrual status was recognized to the extent cash was received and when the loan’s principal balance was deemed collectable. We measured impairment of a loan or lease by using the estimated fair value of the collateral, less estimated costs to sell and other applicable costs, if the loan or lease was collateral‑dependent and the present value of the expected future cash flows discounted at the loan’s or lease’s effective interest rate if the loan or lease was not collateral‑dependent. The impairment amount on a collateral‑dependent loan or lease was charged‑off, and the impairment amount on a loan that was not collateral‑dependent was generally recorded as a specific reserve within our allowance for loan and lease losses. |
Allowance for Credit Losses | Allowance for Credit Losses on Loans and Leases Held for Investment Effective January 1, 2020, upon the adoption of ASU 2016-13, the Company replaced the incurred loss accounting approach with the current expected credit loss ("CECL") approach for financial instruments measured at amortized cost and other commitments to extend credit. CECL requires the immediate recognition of estimated credit losses expected to occur over the estimated remaining life of the asset. The forward-looking concept of CECL requires loss estimates to consider historical experience, current conditions and reasonable and supportable forecasts. The allowance for credit losses on loans and leases held for investment is the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments. The allowance for loan and lease losses is reported as a reduction of the amortized cost basis of loans and leases, while the reserve for unfunded loan commitments is included within "Accrued interest payable and other liabilities" on the consolidated balance sheets. The amortized cost basis of loans and leases does not include accrued interest receivable, which is included in "Other assets" on the consolidated balance sheets. The "Provision for credit losses" on the consolidated statements of earnings (loss) is a combination of the provision for loan and lease losses and the provision for unfunded loan commitments. Under the CECL methodology, expected credit losses reflect losses over the remaining contractual life of an asset, considering the effect of prepayments and available information about the collectability of cash flows, including information about relevant historical experience, current conditions, and reasonable and supportable forecasts of future events and circumstances. Thus, the CECL methodology incorporates a broad range of information in developing credit loss estimates. The resulting allowance for loan and lease losses is deducted from the associated amortized cost basis to reflect the net amount expected to be collected. Subsequent changes in this estimate are recorded through the provision for credit losses and the allowance. The CECL methodology could result in significant changes to both the timing and amounts of provision for credit losses and the allowance as compared to historical periods. Loans and leases that are deemed to be uncollectable are charged off and deducted from the allowance. The provision for credit losses and recoveries on loans and leases previously charged off are added to the allowance. The allowance for loan and lease losses is comprised of an individually evaluated component for loans and leases that no longer share similar risk characteristics with other loans and leases and a pooled loans component for loans and leases that share similar risk characteristics. A loan or lease with an outstanding balance greater than $250,000 is individually evaluated for expected credit loss when it is probable that we will be unable to collect all amounts due according to the original contractual terms of the agreement. We select loans and leases for individual assessment on an ongoing basis using certain criteria such as payment performance, borrower reported and forecasted financial results, and other external factors when appropriate. We measure the current expected credit loss of an individually evaluated loan or lease based upon the fair value of the underlying collateral if the loan or lease is collateral-dependent or the present value of cash flows, discounted at the effective interest rate, if the loan or lease is not collateral-dependent. To the extent a loan or lease balance exceeds the estimated collectable value, a reserve or charge-off is recorded depending upon either the certainty of the estimate of loss or the fair value of the loan’s collateral if the loan is collateral-dependent. Our CECL methodology for the pooled loans component includes both quantitative and qualitative loss factors which are applied to our population of loans and leases and assessed at a pool level. The quantitative CECL model estimates credit losses by applying pool-specific probability of default ("PD") and loss given default ("LGD") rates to the expected exposure at default ("EAD") over the contractual life of loans and leases. The qualitative component considers internal and external risk factors that may not be adequately assessed in the quantitative model. The loan portfolio is segmented into four loan segments, eight loan classes, and 18 loan pools (excluding Paycheck Protection Program loans, which are fully government guaranteed) based upon loan type that share similar default risk characteristics to calculate quantitative loss factors for each pool. Two of these loan pools have insignificant current balances and/or insignificant historical losses, thus, estimated losses are calculated using historical loss rates from the first quarter of 2009 to the current period rather than econometric regression modeling. For the remaining 16 loan pools, we estimate the PD during the reasonable and supportable forecast period using seven econometric regression models developed to correlate macroeconomic variables to historical credit performance (based on quarterly transition matrices for the economic cycle from 2009 to 2019, which include risk rating upgrades/downgrades and defaults). The loans and unfunded commitments are grouped into eight LGD pools based on portfolio classes that share similar collateral risk characteristics. LGD rates are computed based on the net charge-offs recognized divided by the EAD of defaulted loans starting with the first quarter of 2009 to the current period. The PD and LGD rates are applied to the EAD at the loan or lease level based on contractual scheduled payments and estimated prepayments. We use our actual historical loan prepayment experience from 2009 to 2019, consistent with the economic cycle used for our PD regression models, to estimate future prepayments by loan pool. Loans and leases with outstanding balances less than or equal to $250,000, where it is probable that we will be unable to collect all amounts due according to the contractual terms of the agreement, remain in their respective pools and are assigned a 100% probability of default. For the reasonable and supportable forecast period, future macroeconomic events and circumstances are estimated over a 4-quarter time horizon using a single scenario economic forecast that is consistent with management's current expectations for the 16 loan pools. We use economic forecasts from Moody's Analytics in this process. The economic forecast is updated monthly; therefore, the forecast used for each quarter-end calculation is generally released a few weeks prior to quarter-end. If economic conditions as of the balance sheet date change materially, management would consider a qualitative adjustment. The key macroeconomic assumptions used in each of the seven PD regression models include two or three of the following economic indicators: Real GDP, unemployment rates, CRE Price Index, the BBB corporate spread, nominal disposable income, and CPI. The quantitative CECL model applies the projected rates based on the economic forecasts for the 4-quarter reasonable and supportable forecast horizon to EAD to estimate defaulted loans. During this forecast horizon, prepayment rates during a historical period that exhibits economic conditions most similar to the economic forecast are used to estimate EAD. If no historical period from the 2009 to 2019 economic cycle exhibits economic conditions that are similar to the economic forecast, management uses its best estimate of prepayments expected over the reasonable and supportable forecast period which may, in some circumstances, be the average of all historical prepayment experience. Historical LGD rates are applied to estimated defaulted loans to determine estimated credit losses. We then use a 2-quarter reversion p eriod to revert on a straight-line basis from the PD, LGD, and prepayment rates used during the reasonable and supportable forecast period to the Company’s historical PD, LGD, and prepayment experience. Subsequent to the reversion period for the remaining contractual life of loans and leases, the PD, LGD, and prepayment rates are based on historical experience during the economic cycle from 2009 to 2019. PD regression models and prepayment rates are updated on an annual basis. During the annual model performance assessment for 2021, we considered updating the prepayment rates and PD models with 2020 data, however, we elected not to include historical data from 2020 to assess the quantitative expected credit losses because we believe 2020 did not represent normal economic behavior considering the changes in macroeconomic variables and the significant levels of government relief programs. As such, we continued to use the most recent and complete economic cycle from 2009 to 2019 to assess quantitative expected credit losses. LGD rates are updated every quarter to reflect current charge-off activity. The PDs calculated by the quantitative models are highly correlated to our internal risk ratings assigned to each loan and lease. To ensure the accuracy of our credit risk ratings, an independent credit review function assesses the appropriateness of the credit risk ratings assigned to loans and leases on a regular basis. The credit risk ratings assigned to every loan and lease are as follows: • High Pass : (Risk ratings 1-2) Loans and leases rated as "high pass" exhibit a favorable credit profile and have minimal risk characteristics. Repayment in full is expected, even in adverse economic conditions. • Pass : (Risk ratings 3-4) Loans and leases rated as "pass" are not adversely classified and collection and repayment in full are expected. • Special Mention : (Risk rating 5) Loans and leases rated as "special mention" have a potential weakness that requires management's attention. If not addressed, these potential weaknesses may result in further deterioration in the borrower's ability to repay the loan or lease. • Substandard : (Risk rating 6) Loans and leases rated as "substandard" have a well-defined weakness or weaknesses that jeopardize the collection of the debt. They are characterized by the possibility that we will sustain some loss if the weaknesses are not corrected. • Doubtful : (Risk rating 7) Loans and leases rated as "doubtful" have all the weaknesses of those rated as "substandard," with the additional trait that the weaknesses make collection or repayment in full highly questionable and improbable. We may refer to the loans and leases with assigned credit risk ratings of "substandard" and "doubtful" together as "classified" loans and leases. For further information on classified loans and leases, see Note 5. Loans and Leases. In addition to our internal risk rating process, our federal and state banking regulators, as an integral part of their examination process, periodically review the Company’s loan and lease risk rating classifications . Our regulators may require the Company to recognize rating downgrades based on information available to them at the time of their examinations. R isk rating downgrades generally result in increases in the provisions for credit losses and the allowance for credit losses. The qualitative portion of the reserve on pooled loans and leases represents management’s judgment of additional considerations to account for internal and external risk factors that are not adequately measured in the quantitative reserve. The qualitative loss factors consider idiosyncratic risk factors, conditions that may not be reflected in quantitatively derived results, or other relevant factors to ensure the allowance for credit losses reflects our best estimate of current expected credit losses. Current and forecasted economic trends and underlying market values for collateral dependent loans are generally considered to be encompassed within the CECL quantitative reserve. An incremental qualitative adjustment may be considered when economic forecasts exhibit higher levels of volatility or uncertainty. In addition to economic conditions and collateral dependency, the other qualitative criteria we consider when establishing the loss factors include the following: • Legal and Regulatory - matters that could impact our borrowers’ ability to repay our loans and leases; • Concentrations - loan and lease portfolio composition and any loan concentrations; • Lending Policy - current lending policies and the effects of any new policies or policy amendments; • Nature and Volume - loan and lease production volume and mix; • Problem Loan Trends - loan and lease portfolio credit performance trends, including a borrower's financial condition, credit rating, and ability to meet loan payment requirements; • Loan Review - results of independent credit review; and • Management - changes in management related to credit administration functions. We estimate the reserve for unfunded loan commitments using the same PD, LGD, and prepayment rates for the quantitative credit losses and qualitative loss factors as used for the allowance for loan and lease losses. The EAD for the reserve for unfunded loan commitments is computed using expected future utilization rates of the unfunded commitments during the contractual life of the commitments based on historical usage by loan pool from 2015 to 2020. The utilization rates are updated on an annual basis. The CECL methodology requires a significant amount of management judgment in determining the appropriate allowance for credit losses. Most of the steps in the methodology involve judgment and are subjective in nature including, among other things: segmenting the loan and lease portfolio; determining the amount of loss history to consider; selecting predictive econometric regression models that use appropriate macroeconomic variables; determining the methodology to forecast prepayments; selecting the most appropriate economic forecast scenario; determining the length of the reasonable and supportable forecast and reversion periods; estimating expected utilization rates on unfunded loan commitments; and assessing relevant and appropriate qualitative factors. In addition, the CECL methodology is dependent on economic forecasts which are inherently imprecise and will change from period to period. Although the allowance for credit losses is considered appropriate, there can be no assurance that it will be sufficient to absorb future losses. Management believes the allowance for credit losses is appropriate for the current expected credit losses in our loan and lease portfolio and associated unfunded commitments, and the credit risk ratings and inherent loss rates currently assigned are reasonable and appropriate as of the reporting date. It is possible that others, given the same information, may at any point in time reach different conclusions that could result in a significant impact to the Company's consolidated financial statements. Prior to January 1, 2020, the allowance for loan losses was measured using the incurred loss accounting approach. The allowance for credit losses was maintained at a level deemed appropriate by management to adequately provide for known and inherent risks in the loan and lease portfolio and other extensions of credit at the balance sheet date. The allowance was based upon our review of the credit quality of the loan and lease portfolio, which includes payment trends, borrowers' compliance with loan agreements, borrowers' current and budgeted financial performance, collateral valuation trends, and current economic factors and external conditions that may affect our borrowers' ability to make payments to us in accordance with contractual terms. The allowance for loan and lease losses had a general reserve component for unimpaired loans and leases and a specific reserve component for impaired loans and leases. A loan or lease was considered impaired when it was probable that we would be unable to collect all amounts due according to the original contractual terms of the agreement. We assessed our loans and leases for impairment on an ongoing basis using certain criteria such as payment performance, borrower reported financial results and budgets, and other external factors when appropriate. We measured impairment of a loan or lease based upon the fair value of the underlying collateral if the loan or lease was collateral-dependent or the present value of cash flows, discounted at the effective interest rate, if the loan or lease was not collateral-dependent. To the extent a loan or lease balance exceeded the estimated collectable value, a specific reserve or charge-off was recorded depending upon either the certainty of the estimate of loss or the fair value of the loan’s collateral if the loan was collateral-dependent. Impaired loans and leases with outstanding balances less than or equal to $250,000 might not be individually assessed for impairment but would be assessed with reserves based on the average loss severity on historical impaired loans with similar risk characteristics. Our allowance methodology for the general reserve component included both quantitative and qualitative loss factors which were applied to our population of unimpaired loans and leases to estimate our general reserves. The quantitative loss factors determination was based on a probability of default/loss given default ("PD/LGD") methodology which considered the likelihood of loans defaulting based on the historical degree that similar loans defaulted and the degree of credit losses based on the historical average degree of loss experienced for these similar loans and leases pooled both by loan or lease type and credit risk rating; loans with more adverse credit risk ratings had higher quantitative loss factors. The qualitative loss factors considered, among other things, current economic trends and forecasts, current collateral values and performance trends, credit performance trends, and the loan portfolio's current composition. The quantitative estimation of the allowance for credit losses considered actual historical loan and lease charge-off experience over a 44-quarter look-back period starting with the first quarter of 2009. This look-back period was inclusive of the average timeframe over which charge-offs typically occurred following loan or lease origination and allowed for the capture of sufficient loss observations that were relevant to the current portfolio. When estimating the general reserve component for the various pools of similar loan types, the loss factors applied to the loan pools considered the current credit risk ratings, giving greater weight to loans with more adverse credit risk ratings. We recognized that the determination of the allowance for credit losses was sensitive to the assigned credit risk ratings and inherent loss rates at any given point in time. |
Land, Premises and Equipment | Land, Premises and EquipmentPremises and equipment are stated at cost less accumulated depreciation and amortization. Land is not depreciated. Depreciation and amortization is charged to "Noninterest expense" in the consolidated statements of earnings (loss) using the straight‑line method over the estimated useful lives of the assets. The estimated useful lives of furniture, fixtures and equipment range from 3 to 7 years and for buildings up to 30 years. Leasehold improvements are amortized over their estimated useful lives, or the life of the lease, whichever is shorter. |
Foreclosed Assets | Foreclosed AssetsForeclosed assets include OREO and repossessed non-real estate assets. Foreclosed assets are initially recorded at the estimated fair value of the property, based on current independent appraisals obtained at the time of acquisition, less estimated costs to sell, including senior obligations such as delinquent property taxes. The excess of the recorded loan balance over the estimated fair value of the property at the time of acquisition less estimated costs to sell is charged to the allowance for loan and lease losses. Any subsequent write‑downs are charged to "Noninterest expense" in the consolidated statements of earnings (loss) and recognized through a foreclosed assets valuation allowance. Subsequent increases in the fair value of the asset less selling costs reduce the foreclosed assets valuation allowance, but not below zero, and are credited to "Noninterest expense." Gains and losses on the sale of foreclosed assets and operating expenses of such assets are included in "Noninterest expense." |
Income Taxes | Income TaxesIncome taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in earnings in the period that includes the enactment date. Any interest or penalties assessed by the taxing authorities is classified in the financial statements as income tax expense. Deferred tax assets and liabilities of the same jurisdiction, net of valuation allowances, are grouped together and reported net on the consolidated balance sheets.On a periodic basis, the Company evaluates its deferred tax assets to assess whether they are expected to be realized in the future. This determination is based on currently available facts and circumstances, including our current and projected future tax positions, the historical level of our taxable income, and estimates of our future taxable income. In most cases, the realization of deferred tax assets is based on our future profitability. To the extent our deferred tax assets are not considered more likely than not to be realized, we are required to record a valuation allowance on our deferred tax assets by charging earnings. The Company also evaluates existing valuation allowances periodically to determine if sufficient evidence exists to support an increase or reduction in the allowance. |
Goodwill and Intangible Assets | Goodwill and Other Intangible Assets Goodwill and other intangible assets arise from the acquisition method of accounting for business combinations. Goodwill and other intangible assets generated from business combinations and deemed to have indefinite lives are not subject to amortization and instead are tested for impairment annually unless a triggering event occurs thereby requiring an updated assessment. Our regular annual impairment assessment occurs in the fourth quarter. Goodwill represents the excess of the purchase price over the fair value of the net assets and other identifiable intangible assets acquired. Impairment exists when the carrying value of the goodwill exceeds its fair value. An impairment loss would be recognized in an amount equal to that excess as a charge to "Noninterest expense" in the consolidated statements of earnings (loss). Intangible assets with estimable useful lives are amortized over such useful lives to their estimated residual values. CDI and CRI are recognized apart from goodwill at the time of acquisition based on market valuations. In preparing such valuations, variables considered included deposit servicing costs, attrition rates, and market discount rates. CDI assets are amortized to expense over their useful lives, which we have estimated to range from 7 to 10 years. CRI assets are amortized to expense over their useful lives, which we have estimated to range from 4 to 7 years. The amortization expense represents the estimated decline in the value of the underlying deposits or customer relationships acquired. Both CDI and CRI are reviewed for impairment quarterly or earlier if events or changes in circumstances indicate that their carrying values may not be recoverable. If the recoverable amount of either CDI or CRI is determined to be less than its carrying value, we would then measure the amount of impairment based on an estimate of the intangible asset’s fair value at that time. If the fair value is below the carrying value, then the intangible asset is reduced to such fair value; an impairment loss for such amount would be recognized as a charge to "Noninterest expense" in the consolidated statements of earnings (loss). |
Stock-based Compensation | Stock-Based CompensationThe Company issues stock-based compensation instruments consisting of TRSAs and PRSUs. Compensation expense related to TRSAs is based on the fair value of the underlying stock on the award date and is recognized over the vesting period using the straight‑line method. Forfeitures of stock-based awards are recognized when they occur. Compensation expense related to PRSUs is based on the fair value of the underlying stock on the award date and is amortized over the vesting period using the straight-line method unless it is determined that: (1) attainment of the financial metrics is less than probable, in which case a portion of the amortization is suspended, or (2) attainment of the financial metrics is improbable, in which case a portion of the previously recognized amortization is reversed and also suspended. If it is determined that attainment of a financial measure higher than target is probable, the amortization will increase up to 150% or 200% of the target amortization amount. Annual PRSU expense may vary during the three-year performance period based upon changes in management's estimate of the number of shares that may ultimately vest. In the case where the performance target for the PRSU’s is based on a market condition (such as total shareholder return), the amortization is neither reversed nor suspended if it is subsequently determined that the attainment of the performance target is less than probable or improbable and the employee continues to meet the service requirement of the award.Unvested TRSAs participate with common stock in any dividends declared and paid. Dividends are paid on unvested TRSAs and are charged to equity and the related tax impact is recorded to income tax expense. Dividends paid on forfeited TRSAs are charged to compensation expense. |
Earnings Per Share | Earnings (Loss) Per Share In accordance with ASC Topic 260, “ Earnings Per Share ,” all outstanding unvested share‑based payment awards that contain rights to nonforfeitable dividends are considered participating securities and are included in the two‑class method of determining basic and diluted earnings (loss) per share. All of our unvested restricted stock participates with our common stockholders in dividends. Accordingly, earnings allocated to unvested restricted stock are deducted from net earnings (loss) to determine that amount of earnings (loss) available to common stockholders. In the two‑class method, the amount of our earnings (loss) available to common stockholders is divided by the weighted average shares outstanding, excluding any unvested restricted stock, for both the basic and diluted earnings (loss) per share. |
Business Combinations | Business Combinations Business combinations are accounted for under the acquisition method of accounting in accordance with ASC Topic 805, “ Business Combinations .” Under the acquisition method, the acquiring entity in a business combination recognizes 100 percent of the acquired assets and assumed liabilities, regardless of the percentage owned, at their estimated fair values as of the date of acquisition. Any excess of the purchase price over the fair value of net assets and other identifiable intangible assets acquired is recorded as goodwill. To the extent the fair value of net assets acquired, including other identifiable assets, exceeds the purchase price, a bargain purchase gain is recognized. Assets acquired and liabilities assumed from contingencies must also be recognized at fair value, if the fair value can be determined during the measurement period. Results of operations of an acquired business are included in the consolidated statements of earnings (loss) from the date of acquisition. Acquisition‑related costs, including conversion and restructuring charges, are expensed as incurred. |
Business Segments | Business Segments We regularly assess our strategic plans, operations and reporting structures to identify our reportable segments. Changes to our reportable segments are expected to be infrequent. As of December 31, 2021 and since December 31, 2015, we have operated as one reportable segment. Civic, which we acquired on February 1, 2021, is an operating segment, however, it does not meet the quantitative thresholds for disclosure as a reportable segment. The factors considered in making this determination include the nature of products and offered services, geographic regions in which we operate, the applicable regulatory environment, and the discrete financial information reviewed by our key decision makers. Through our network of banking offices nationwide, our entire operations provide relationship-based banking products, services and solutions for small to mid-sized companies, entrepreneurial and venture-backed businesses, venture capital and private equity investors, real estate investors, professionals and other individuals. Our products and services include commercial real estate, multi-family, commercial business, construction and land, consumer and government-guaranteed small business loans, business and personal deposit products, HOA services, and treasury cash management services. |
Loans and Leases | NOTE 5. LOANS AND LEASES Loans and Leases Held for Investment The following table summarizes the composition of our loans and leases held for investment as of the dates indicated: December 31, 2021 2020 (In thousands) Real estate mortgage $ 11,189,278 $ 7,905,193 Real estate construction and land 3,491,340 3,393,145 Commercial 7,888,068 7,534,801 Consumer 457,622 320,218 Total gross loans and leases held for investment 23,026,308 19,153,357 Deferred fees, net (84,760) (69,980) Total loans and leases held for investment, net of deferred fees 22,941,548 19,083,377 Allowance for loan and lease losses (200,564) (348,181) Total loans and leases held for investment, net (1) $ 22,740,984 $ 18,735,196 ____________________ (1) Excludes accrued interest receivable of $80.3 million and $79.7 million at December 31, 2021 and December 31, 2019, respectively, which is recorded in "Other assets" on the consolidated balance sheets. The following tables present an aging analysis of our loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated: December 31, 2021 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 5,307 $ 2,236 $ 7,543 $ 3,754,756 $ 3,762,299 Income producing and other residential 40,505 9,666 50,171 7,366,250 7,416,421 Total real estate mortgage 45,812 11,902 57,714 11,121,006 11,178,720 Real estate construction and land: Commercial — — — 832,591 832,591 Residential 7,271 2,223 9,494 2,595,042 2,604,536 Total real estate construction and land 7,271 2,223 9,494 3,427,633 3,437,127 Commercial: Asset-based — 464 464 4,075,013 4,075,477 Venture capital — — — 2,320,593 2,320,593 Other commercial 955 3,601 4,556 1,467,425 1,471,981 Total commercial 955 4,065 5,020 7,863,031 7,868,051 Consumer 1,004 276 1,280 456,370 457,650 Total $ 55,042 $ 18,466 $ 73,508 $ 22,868,040 $ 22,941,548 December 31, 2020 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 6,750 $ 29,145 $ 35,895 $ 4,060,776 $ 4,096,671 Income producing and other residential 600 373 973 3,802,292 3,803,265 Total real estate mortgage 7,350 29,518 36,868 7,863,068 7,899,936 Real estate construction and land: Commercial — — — 1,117,121 1,117,121 Residential 759 — 759 2,242,401 2,243,160 Total real estate construction and land 759 — 759 3,359,522 3,360,281 Commercial: Asset-based — 2,128 2,128 3,427,155 3,429,283 Venture capital 540 — 540 1,697,968 1,698,508 Other commercial 2,323 4,766 7,089 2,368,025 2,375,114 Total commercial 2,863 6,894 9,757 7,493,148 7,502,905 Consumer 1,260 111 1,371 318,884 320,255 Total $ 12,232 $ 36,523 $ 48,755 $ 19,034,622 $ 19,083,377 The following table presents our nonaccrual and performing loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated: December 31, 2021 2020 Nonaccrual Performing Total Nonaccrual Performing Total (In thousands) Real estate mortgage: Commercial $ 27,540 $ 3,734,759 $ 3,762,299 $ 43,731 $ 4,052,940 $ 4,096,671 Income producing and other residential 12,292 7,404,129 7,416,421 1,826 3,801,439 3,803,265 Total real estate mortgage 39,832 11,138,888 11,178,720 45,557 7,854,379 7,899,936 Real estate construction and land: Commercial — 832,591 832,591 315 1,116,806 1,117,121 Residential 4,715 2,599,821 2,604,536 — 2,243,160 2,243,160 Total real estate construction and land 4,715 3,432,412 3,437,127 315 3,359,966 3,360,281 Commercial: Asset-based 1,464 4,074,013 4,075,477 2,679 3,426,604 3,429,283 Venture capital 2,799 2,317,794 2,320,593 1,980 1,696,528 1,698,508 Other commercial 11,950 1,460,031 1,471,981 40,243 2,334,871 2,375,114 Total commercial 16,213 7,851,838 7,868,051 44,902 7,458,003 7,502,905 Consumer 414 457,236 457,650 389 319,866 320,255 Total $ 61,174 $ 22,880,374 $ 22,941,548 $ 91,163 $ 18,992,214 $ 19,083,377 The amount of interest income that would have been recorded on nonaccrual loans and leases at December 31, 2021 and 2020 had such loans and leases been current in accordance with their original terms was $4.9 million and $7.5 million for 2021 and 2020. At December 31, 2021, nonaccrual loans and leases included $18.5 million of loans and leases 90 or more days past due, $6.3 million of loans 30 to 89 days past due and $36.4 million of current loans that were placed on nonaccrual status based on management’s judgment regarding their collectability. At December 31, 2020, nonaccrual loans and leases included $36.5 million of loans and leases 90 or more days past due, $3.4 million of loans 30 to 89 days past due and $51.3 million of current loans that were placed on nonaccrual status based on management’s judgment regarding their collectability. As of December 31, 2021, our three largest loan relationships on nonaccrual status had an aggregate carrying value of $14.2 million and represented 23% of total nonaccrual loans and leases. The following tables present the credit risk rating categories for loans and leases held for investment by loan portfolio segment and class as of the dates indicated. Classified loans and leases are those with a credit risk rating of either substandard or doubtful. December 31, 2021 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 62,206 $ 191,809 $ 3,508,284 $ 3,762,299 Income producing and other residential 17,700 19,848 7,378,873 7,416,421 Total real estate mortgage 79,906 211,657 10,887,157 11,178,720 Real estate construction and land: Commercial — 67,727 764,864 832,591 Residential 4,715 1,720 2,598,101 2,604,536 Total real estate construction and land 4,715 69,447 3,362,965 3,437,127 Commercial: Asset-based 4,591 78,305 3,992,581 4,075,477 Venture capital 4,794 14,833 2,300,966 2,320,593 Other commercial 21,659 15,528 1,434,794 1,471,981 Total commercial 31,044 108,666 7,728,341 7,868,051 Consumer 439 1,841 455,370 457,650 Total $ 116,104 $ 391,611 $ 22,433,833 $ 22,941,548 December 31, 2020 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 91,543 $ 262,462 $ 3,742,666 $ 4,096,671 Income producing and other residential 8,767 61,384 3,733,114 3,803,265 Total real estate mortgage 100,310 323,846 7,475,780 7,899,936 Real estate construction and land: Commercial 42,558 107,592 966,971 1,117,121 Residential — 759 2,242,401 2,243,160 Total real estate construction and land 42,558 108,351 3,209,372 3,360,281 Commercial: Asset-based 27,867 153,301 3,248,115 3,429,283 Venture capital 6,508 118,125 1,573,875 1,698,508 Other commercial 87,557 14,930 2,272,627 2,375,114 Total commercial 121,932 286,356 7,094,617 7,502,905 Consumer 462 2,732 317,061 320,255 Total $ 265,262 $ 721,285 $ 18,096,830 $ 19,083,377 The following table presents our nonaccrual loans and leases by loan portfolio segment and class and by with and without an allowance recorded as of the date indicated and interest income recognized on nonaccrual loans and leases for the year indicated: At and For the Year Ended At and For the Year Ended December 31, 2021 December 31, 2020 Nonaccrual Interest Nonaccrual Interest Recorded Income Recorded Income Investment Recognized Investment Recognized (In thousands) With An Allowance Recorded: Real estate mortgage: Commercial $ 70 $ — $ 78 $ — Income producing and other residential 3,555 — 1,260 — Real estate construction and land: Commercial — — — — Residential 616 — — — Commercial: Asset based 1,000 — 2,128 — Venture capital 2,799 — 1,980 — Other commercial 1,081 — 2,438 — Consumer 19 — 389 — With No Related Allowance Recorded: Real estate mortgage: Commercial $ 27,470 $ 596 $ 43,653 $ 524 Income producing and other residential 8,737 — 566 — Real estate construction and land: Commercial — — 315 — Residential 4,099 — — — Commercial: Asset based 464 — 551 — Venture capital — — — — Other commercial 10,869 169 37,805 5,052 Consumer 395 — — — Total Loans and Leases With and Without an Allowance Recorded: Real estate mortgage $ 39,832 $ 596 $ 45,557 $ 524 Real estate construction and land 4,715 — 315 — Commercial 16,213 169 44,902 5,052 Consumer 414 — 389 — Total $ 61,174 $ 765 $ 91,163 $ 5,576 The following tables present our loans held for investment by loan portfolio segment and class, by credit quality indicator (internal risk ratings), and by year of origination (vintage year) as of the date indicated: Revolving Converted Amortized Cost Basis Term Loans by Origination Year Revolving to Term December 31, 2021 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Real Estate Mortgage: Commercial Internal risk rating: 1-2 High pass $ 561 $ 9,148 $ 32,304 $ 8,289 $ 6,248 $ 33,493 $ 3 $ — $ 90,046 3-4 Pass 499,626 531,989 321,728 578,436 489,727 932,950 51,805 11,977 3,418,238 5 Special mention — 4,811 63,381 76,372 6,533 40,712 — — 191,809 6-8 Classified — 488 17,037 5,340 6,278 33,063 — — 62,206 Total $ 500,187 $ 546,436 $ 434,450 $ 668,437 $ 508,786 $ 1,040,218 $ 51,808 $ 11,977 $ 3,762,299 Current YTD period: Gross charge-offs $ — $ — $ 189 $ 168 $ 344 $ 264 $ — $ — $ 965 Gross recoveries — — — — (8) (6,073) — — (6,081) Net $ — $ — $ 189 $ 168 $ 336 $ (5,809) $ — $ — $ (5,116) Real Estate Mortgage: Income Producing and Other Residential Internal risk rating: 1-2 High pass $ 95,016 $ 29,339 $ 57,874 $ 47,688 $ 11,776 $ 16,703 $ 28,115 $ — $ 286,511 3-4 Pass 4,405,055 623,207 573,718 616,515 547,531 234,525 91,655 156 7,092,362 5 Special mention 2,871 3,810 13,007 — — — 160 — 19,848 6-8 Classified 5,161 5,217 — 3,323 304 3,424 — 271 17,700 Total $ 4,508,103 $ 661,573 $ 644,599 $ 667,526 $ 559,611 $ 254,652 $ 119,930 $ 427 $ 7,416,421 Current YTD period: Gross charge-offs $ 28 $ 80 $ — $ — $ — $ 55 $ — $ — $ 163 Gross recoveries (28) — — — — (357) — (301) (686) Net $ — $ 80 $ — $ — $ — $ (302) $ — $ (301) $ (523) Real Estate Construction and Land: Commercial Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 96,108 96,448 386,832 152,444 720 14,122 18,190 — 764,864 5 Special mention — — — — 67,727 — — — 67,727 6-8 Classified — — — — — — — — — Total $ 96,108 $ 96,448 $ 386,832 $ 152,444 $ 68,447 $ 14,122 $ 18,190 $ — $ 832,591 Current YTD period: Gross charge-offs $ — $ — $ — $ 775 $ — $ — $ — $ — $ 775 Gross recoveries — — — — — — — — — Net $ — $ — $ — $ 775 $ — $ — $ — $ — $ 775 Revolving Converted Amortized Cost Basis Term Loans by Origination Year Revolving to Term December 31, 2021 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Real Estate Construction and Land: Residential Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 849,188 672,864 851,127 163,950 17,526 3,970 28,804 10,672 2,598,101 5 Special mention 276 1,185 — — 259 — — — 1,720 6-8 Classified 849 3,278 588 — — — — — 4,715 Total $ 850,313 $ 677,327 $ 851,715 $ 163,950 $ 17,785 $ 3,970 $ 28,804 $ 10,672 $ 2,604,536 Current YTD period: Gross charge-offs $ 7 $ — $ — $ — $ — $ — $ — $ — $ 7 Gross recoveries — — — — — — — — — Net $ 7 $ — $ — $ — $ — $ — $ — $ — $ 7 Commercial: Asset-Based Internal risk rating: 1-2 High pass $ 138,836 $ 72,725 $ 178,291 $ 123,947 $ 71,940 $ 188,411 $ 706,656 $ 50,495 $ 1,531,301 3-4 Pass 242,209 71,930 59,748 45,375 8,350 34,833 1,992,677 6,158 2,461,280 5 Special mention — — 48,796 13,138 — — 12,393 3,978 78,305 6-8 Classified — — — — — 464 4,027 100 4,591 Total $ 381,045 $ 144,655 $ 286,835 $ 182,460 $ 80,290 $ 223,708 $ 2,715,753 $ 60,731 $ 4,075,477 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ 232 $ 232 Gross recoveries — — — — — (691) (28) — (719) Net $ — $ — $ — $ — $ — $ (691) $ (28) $ 232 $ (487) Commercial: Venture Capital Internal risk rating: 1-2 High pass (1) $ — $ 1,999 $ — $ — $ (4) $ 14 $ 228,820 $ — $ 230,829 3-4 Pass 229,567 58,283 46,007 7,241 1,614 4,166 1,715,057 8,202 2,070,137 5 Special mention 8,980 2,778 499 — — 2,593 (17) — 14,833 6-8 Classified 500 — — 2,000 — — (6) 2,300 4,794 Total $ 239,047 $ 63,060 $ 46,506 $ 9,241 $ 1,610 $ 6,773 $ 1,943,854 $ 10,502 $ 2,320,593 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ 620 $ — $ — $ 620 Gross recoveries — — (127) (37) (158) (82) — — (404) Net $ — $ — $ (127) $ (37) $ (158) $ 538 $ — $ — $ 216 ____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees. Revolving Converted Amortized Cost Basis Term Loans by Origination Year Revolving to Term December 31, 2021 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Commercial: Other Commercial Internal risk rating: 1-2 High pass (1) $ 134,825 $ 22,556 $ 261 $ 4 $ 246 $ (50) $ 18,206 $ 693 $ 176,741 3-4 Pass 286,281 73,328 77,487 67,591 46,939 89,408 607,197 9,822 1,258,053 5 Special mention — 291 1 2,088 115 11,911 1,061 61 15,528 6-8 Classified 53 1 395 (3) 223 4,212 15,731 1,047 21,659 Total $ 421,159 $ 96,176 $ 78,144 $ 69,680 $ 47,523 $ 105,481 $ 642,195 $ 11,623 $ 1,471,981 Current YTD period: Gross charge-offs $ 1,992 $ — $ 122 $ 47 $ 139 $ 797 $ 985 $ 2,364 $ 6,446 Gross recoveries — — (42) — (268) (4,076) (57) (145) (4,588) Net $ 1,992 $ — $ 80 $ 47 $ (129) $ (3,279) $ 928 $ 2,219 $ 1,858 Consumer Internal risk rating: 1-2 High pass $ 36 $ 11 $ — $ 5 $ 4 $ — $ 646 $ — $ 702 3-4 Pass 261,678 24,195 73,860 35,623 21,707 31,916 5,689 — 454,668 5 Special mention 797 363 496 — 50 135 — — 1,841 6-8 Classified — 22 123 111 21 143 — 19 439 Total $ 262,511 $ 24,591 $ 74,479 $ 35,739 $ 21,782 $ 32,194 $ 6,335 $ 19 $ 457,650 Current YTD period: Gross charge-offs $ — $ 185 $ 654 $ 156 $ 270 $ 188 $ — $ 54 $ 1,507 Gross recoveries — — — (27) (13) (79) (1) — (120) Net $ — $ 185 $ 654 $ 129 $ 257 $ 109 $ (1) $ 54 $ 1,387 Total Loans and Leases Internal risk rating: 1-2 High pass $ 369,274 $ 135,778 $ 268,730 $ 179,933 $ 90,210 $ 238,571 $ 982,446 $ 51,188 $ 2,316,130 3-4 Pass 6,869,712 2,152,244 2,390,507 1,667,175 1,134,114 1,345,890 4,511,074 46,987 20,117,703 5 Special mention 12,924 13,238 126,180 91,598 74,684 55,351 13,597 4,039 391,611 6-8 Classified 6,563 9,006 18,143 10,771 6,826 41,306 19,752 3,737 116,104 Total $ 7,258,473 $ 2,310,266 $ 2,803,560 $ 1,949,477 $ 1,305,834 $ 1,681,118 $ 5,526,869 $ 105,951 $ 22,941,548 Current YTD period: Gross charge-offs $ 2,027 $ 265 $ 965 $ 1,146 $ 753 $ 1,924 $ 985 $ 2,650 $ 10,715 Gross recoveries (28) — (169) (64) (447) (11,358) (86) (446) (12,598) Net $ 1,999 $ 265 $ 796 $ 1,082 $ 306 $ (9,434) $ 899 $ 2,204 $ (1,883) ____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees. Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term December 31, 2020 2020 2019 2018 2017 2016 Prior Loans Loans Total (In thousands) Real Estate Mortgage: Commercial Internal risk rating: 1-2 High pass $ — $ 28,304 $ 4,848 $ 13,184 $ 12,241 $ 41,222 $ — $ — $ 99,799 3-4 Pass 554,143 413,785 574,497 725,503 405,367 893,008 62,586 13,978 3,642,867 5 Special mention 2,622 78,484 99,397 14,625 9,967 57,367 — — 262,462 6-8 Classified 504 1,255 7,489 7,869 16,797 57,629 — — 91,543 Total $ 557,269 $ 521,828 $ 686,231 $ 761,181 $ 444,372 $ 1,049,226 $ 62,586 $ 13,978 $ 4,096,671 Current YTD period: Gross charge-offs $ — $ — $ 154 $ 3,330 $ — $ 6,694 $ — $ — $ 10,178 Gross recoveries — — — (9) — (280) — — (289) Net $ — $ — $ 154 $ 3,321 $ — $ 6,414 $ — $ — $ 9,889 Real Estate Mortgage: Income Producing and Other Residential Internal risk rating: 1-2 High pass $ 58,714 $ 55,826 $ 28,831 $ 33,017 $ 18,991 $ 9,265 $ — $ — $ 204,644 3-4 Pass 491,504 850,978 1,067,109 577,906 238,499 187,959 113,987 528 3,528,470 5 Special mention 12,307 4,207 42,455 1,554 — — 861 — 61,384 6-8 Classified — — 2,862 — — 4,950 118 837 8,767 Total $ 562,525 $ 911,011 $ 1,141,257 $ 612,477 $ 257,490 $ 202,174 $ 114,966 $ 1,365 $ 3,803,265 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ 51 $ — $ 457 $ 508 Gross recoveries — — — — — (327) (1) — (328) Net $ — $ — $ — $ — $ — $ (276) $ (1) $ 457 $ 180 Real Estate Construction and Land: Commercial Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 66,114 369,588 357,295 118,586 36,027 11,778 7,583 — 966,971 5 Special mention — — 40,396 67,196 — — — — 107,592 6-8 Classified — — — — 42,243 315 — — 42,558 Total $ 66,114 $ 369,588 $ 397,691 $ 185,782 $ 78,270 $ 12,093 $ 7,583 $ — $ 1,117,121 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Gross recoveries — — — — — — — — — Net $ — $ — $ — $ — $ — $ — $ — $ — $ — Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term December 31, 2020 2020 2019 2018 2017 2016 Prior Loans Loans Total (In thousands) Real Estate Construction and Land: Residential Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 345,134 670,894 849,819 285,072 28,725 688 9,034 53,035 2,242,401 5 Special mention 759 — — — — — — — 759 6-8 Classified — — — — — — — — — Total $ 345,893 $ 670,894 $ 849,819 $ 285,072 $ 28,725 $ 688 $ 9,034 $ 53,035 $ 2,243,160 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Gross recoveries — — — — — (21) — — (21) Net $ — $ — $ — $ — $ — $ (21) $ — $ — $ (21) Commercial: Asset-Based Internal risk rating: 1-2 High pass $ 116,247 $ 173,457 $ 111,630 $ 69,244 $ 121,838 $ 88,201 $ 275,093 $ 72,017 $ 1,027,727 3-4 Pass 155,221 84,798 85,539 42,928 8,227 46,663 1,750,934 46,078 2,220,388 5 Special mention — 59,822 41,789 9,022 14,274 482 23,257 4,655 153,301 6-8 Classified — — — — 19,417 551 8,799 (900) 27,867 Total $ 271,468 $ 318,077 $ 238,958 $ 121,194 $ 163,756 $ 135,897 $ 2,058,083 $ 121,850 $ 3,429,283 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ 11,817 $ — $ — $ 11,817 Gross recoveries (52) — — — — (420) (236) — (708) Net $ (52) $ — $ — $ — $ — $ 11,397 $ (236) $ — $ 11,109 Commercial: Venture Capital Internal risk rating: 1-2 High pass $ 1,999 $ 4,797 $ — $ (4) $ (4) $ 52 $ 167,296 $ — $ 174,136 3-4 Pass 48,132 103,437 37,818 7,789 29,738 5,494 1,161,606 5,725 1,399,739 5 Special mention 21,645 42,499 2,202 — — — 46,765 5,014 118,125 6-8 Classified — (1,710) 4,000 — — 3,690 528 — 6,508 Total $ 71,776 $ 149,023 $ 44,020 $ 7,785 $ 29,734 $ 9,236 $ 1,376,195 $ 10,739 $ 1,698,508 Current YTD period: Gross charge-offs $ — $ — $ 6,533 $ — $ (8) $ 150 $ 144 $ — $ 6,819 Gross recoveries — — (478) (176) (154) (3) (450) — (1,261) Net $ — $ — $ 6,055 $ (176) $ (162) $ 147 $ (306) $ — $ 5,558 Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term December 31, 2020 2020 2019 2018 2017 2016 Prior Loans Loans Total (In thousands) Commercial: Other Commercial Internal risk rating: 1-2 High pass $ 1,057,405 $ 380 $ 4 $ 366 $ 69 $ 1,350 $ 74,206 $ 80 $ 1,133,860 3-4 Pass 88,875 95,110 99,434 77,557 23,305 89,865 657,088 7,533 1,138,767 5 Special mention — 40 2,145 564 484 10,440 335 922 14,930 6-8 Classified 2 564 80 230 755 3,813 75,046 7,067 87,557 Total $ 1,146,282 $ 96,094 $ 101,663 $ 78,717 $ 24,613 $ 105,468 $ 806,675 $ 15,602 $ 2,375,114 Current YTD period: Gross charge-offs $ — $ — $ — $ 506 $ 239 $ 33,521 $ 27,332 $ 1,871 $ 63,469 Gross recoveries — (18) (8) (34) (226) (3,155) (100) (19) (3,560) Net $ — $ (18) $ (8) $ 472 $ 13 $ 30,366 $ 27,232 $ 1,852 $ 59,909 Consumer Internal risk rating: 1-2 High pass $ 15 $ — $ 8 $ 14 $ — $ — $ 509 $ — $ 546 3-4 Pass 40,585 110,993 62,833 39,036 41,623 12,831 8,536 78 316,515 5 Special mention 45 137 1,628 261 422 239 — — 2,732 6-8 Classified — 35 — 36 56 306 2 27 462 Total $ 40,645 $ 111,165 $ 64,469 $ 39,347 $ 42,101 $ 13,376 $ 9,047 $ 105 $ 320,255 Current YTD period: Gross charge-offs $ — $ 97 $ 86 $ 177 $ 363 $ 44 $ 22 $ 9 $ 798 Gross recoveries — — (1) (10) (16) (174) — — (201) Net $ — $ 97 $ 85 $ 167 $ 347 $ (130) $ 22 $ 9 $ 597 Total Loans and Leases Internal risk rating: 1-2 High pass $ 1,234,380 $ 262,764 $ 145,321 $ 115,821 $ 153,135 $ 140,090 $ 517,104 $ 72,097 $ 2,640,712 3-4 Pass 1,789,708 2,699,583 3,134,344 1,874,377 811,511 1,248,286 3,771,354 126,955 15,456,118 5 Special mention 37,378 185,189 230,012 93,222 25,147 68,528 71,218 10,591 721,285 6-8 Classified 506 144 14,431 8,135 79,268 71,254 84,493 7,031 265,262 Total $ 3,061,972 $ 3,147,680 $ 3,524,108 $ 2,091,555 $ 1,069,061 $ 1,528,158 $ 4,444,169 $ 216,674 $ 19,083,377 Current YTD period: Gross charge-offs $ — $ 97 $ 6,773 $ 4,013 $ 594 $ 52,277 $ 27,498 $ 2,337 $ 93,589 Gross recoveries (52) (18) (487) (229) (396) (4,380) (787) (19) (6,368) Net $ (52) $ 79 $ 6,286 $ 3,784 $ 198 $ 47,897 $ 26,711 $ 2,318 $ 87,221 ______________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees. TDRs are a result of rate reductions, term extensions, fee concessions, transfers to foreclosed assets, discounted loan payoffs, and debt forgiveness, or a combination thereof. Between March 2020 and December 2021, the Company granted various commercial and consumer loan modifications to provide borrowers relief from the economic impacts of COVID-19. In accordance with the CARES Act, the Company elected to not apply TDR classification to COVID-19 related loan modifications that met all of the requisite criteria as stipulated in the CARES Act. The following table presents our troubled debt restructurings of loans held for investment by loan portfolio segment and class for the years indicated: Troubled Debt Restructurings Troubled Debt Restructurings That Subsequently Defaulted (1) Pre-Modification Post-Modification Number Outstanding Outstanding Number of Recorded Recorded of Recorded Loans Investment Investment Loans Investment (1) (Dollars In thousands) Year Ended December 31, 2021 Real estate mortgage: Commercial 2 $ 647 $ — — $ — Income producing and other residential 6 802 802 — — Real estate construction and land: Residential 1 208 208 — — Commercial: Asset-based 2 1,987 1,987 1 464 Venture capital 5 4,502 2,529 — — Other commercial 40 48,760 30,786 3 2,066 Consumer 1 20 20 — — Total 57 $ 56,926 $ 36,332 4 $ 2,530 Year Ended December 31, 2020 Real estate mortgage: Commercial 12 $ 17,201 $ 4,222 1 $ 412 Income producing and other residential 9 1,816 1,816 — — Commercial: Asset-based 8 17,008 1,741 — — Venture capital 2 2,047 2,047 — — Other commercial 37 41,906 27,403 1 92 Consumer 3 212 212 — — Total 71 $ 80,190 $ 37,441 2 $ 504 Year Ended December 31, 2019 Real estate mortgage: Commercial 3 $ 121 $ — — $ — Income producing and other residential 9 1,591 1,591 1 254 Commercial: Asset-based 5 3,082 3,082 — — Venture capital 14 19,017 19,155 — — Other commercial 20 3,835 3,835 4 154 Total 51 $ 27,646 $ 27,663 5 $ 408 _________________________ (1) The population of defaulted TDRs for the period indicated includes only those loans restructured during the preceding 12-month period. For example, for the year ended December 31, 2021, the population of defaulted TDRs includes only those loans restructured after December 31, 2020. The table excludes defaulted TDRs in those classes for which the recorded investment was zero at the end of the period. At December 31, 2021 and 2020, we had unfunded commitments related to TDRs of $2.0 million and $0.9 million. Leases Receivable We provide equipment financing to our customers primarily with operating and direct financing leases. For direct financing leases, lease receivables are recorded on the balance sheet but the leased equipment is not, although we generally retain legal title to the leased equipment until the end of each lease. Direct financing leases are stated at the net amount of minimum lease payments receivable, plus any unguaranteed residual value, less the amount of unearned income and net acquisition discount at the reporting date. Direct lease origination costs are amortized using the effective interest method over the life of the leases. Direct financing leases are subject to our accounting for allowance for loan and lease losses. See Note 10. Leases for information regarding operating leases where we are the lessor. The following table provides the components of leases receivable income for the period indicated: Year Ended December 31, 2021 2020 2019 (In thousands) Component of leases receivable income: Interest income on net investments in leases $ 8,976 $ 8,049 $ 11,061 The following table presents the components of leases receivable as of the date indicated: December 31, 2021 2020 (In thousands) Net investment in direct financing leases: Lease payments receivable $ 190,025 $ 158,740 Unguaranteed residual assets 21,487 19,303 Deferred costs and other 1,373 996 Aggregate net investment in leases $ 212,885 $ 179,039 The following table presents maturities of leases receivable as of the date indicated: December 31, 2021 (In thousands) Year Ending December 31, 2022 $ 54,831 2023 46,499 2024 42,154 2025 25,653 2026 17,829 Thereafter 26,423 Total undiscounted cash flows 213,389 Less: Unearned income (23,364) Present value of lease payments $ 190,025 Allowance for Loan and Lease Losses The following tables present a summary of the activity in the allowance for loan and lease losses on loans and leases held for investment by loan portfolio segment for the years indicated: Year Ended December 31, 2021 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of year $ 138,342 $ 78,356 $ 126,403 $ 5,080 $ 348,181 Charge-offs (1,128) (782) (7,298) (1,507) (10,715) Recoveries 6,767 — 5,711 120 12,598 Net recoveries (charge-offs) 5,639 (782) (1,587) (1,387) 1,883 Provision (45,928) (32,495) (76,098) 5,021 (149,500) Balance, end of year $ 98,053 $ 45,079 $ 48,718 $ 8,714 $ 200,564 Ending Allowance by Evaluation Methodology: Individually evaluated $ 161 $ — $ 2,433 $ — $ 2,594 Collectively evaluated $ 97,892 $ 45,079 $ 46,285 $ 8,714 $ 197,970 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 37,030 $ 10,043 $ 31,317 $ — $ 78,390 Collectively evaluated 11,141,690 3,427,084 7,836,734 457,650 22,863,158 Ending balance $ 11,178,720 $ 3,437,127 $ 7,868,051 $ 457,650 $ 22,941,548 Year Ended December 31, 2020 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of year $ 44,575 $ 30,544 $ 61,528 $ 2,138 $ 138,785 Cumulative effect of change in accounting principle - CECL 5,308 (8,592) 6,860 41 3,617 Balance, January 1, 2020 49,883 21,952 68,388 2,179 142,402 Charge-offs (10,686) — (82,105) (798) (93,589) Recoveries 617 21 5,529 201 6,368 Net (charge-offs) recoveries (10,069) 21 (76,576) (597) (87,221) Provision 98,528 56,383 134,591 3,498 293,000 Balance, end of year $ 138,342 $ 78,356 $ 126,403 $ 5,080 $ 348,181 Ending Allowance by Evaluation Methodology: Individually evaluated $ 237 $ — $ 3,422 $ — $ 3,659 Collectively evaluated $ 138,105 $ 78,356 $ 122,981 $ 5,080 $ 344,522 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 50,139 $ 1,766 $ 81,171 $ — $ 133,076 Collectively evaluated 7,849,797 3,358,515 7,421,734 320,255 18,950,301 Ending balance $ 7,899,936 $ 3,360,281 $ 7,502,905 $ 320,255 $ 19,083,377 The allowance for loan and lease losses decreased by $147.6 million in 2021 due primarily to a provision benefit for loan and lease losses of $149.5 million. The lower provision for loan and lease losses in 2021 was primarily a re sult of improvement in both macroeconomic forecast variables and loan portfolio credit quality metrics. We actively participated in both rounds of the Paycheck Protection Program ("PPP"), under the provisions of the CARES Act during 2020 and 2021, originating $1.65 billion of such loans. As of December 31, 2021, PPP loans totaled $156.7 million, net of deferred fees. The loans have two or five year terms, ar e fully guaranteed by the SBA, and do not carry an allowance. A loan is considered collateral-dependent, and is individually evaluated for reserve purposes, when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. The following table summarizes collateral-dependent loans held for investment by collateral type as of the following date: December 31, 2021 2020 Real Business Real Business Property Assets Total Property Assets Total (In thousands) (In thousands) Real estate mortgage $ 30,817 $ — $ 30,817 $ 43,656 $ — $ 43,656 Real estate construction and land 10,421 — 10,421 1,766 — 1,766 Commercial — 7,586 7,586 — 31,100 31,100 Total $ 41,238 $ 7,586 $ 48,824 $ 45,422 $ 31,100 $ 76,522 Allowance for Credit Losses The allowance for credit losses is the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments. The reserve for unfunded loan commitments is included within "Accrued interest payable and other liabilities" on the consolidated balance sheets. The following tables present a summary of the activity in the allowance for loan and lease losses and reserve for unfunded loan commitments for the years indicated: Year Ended December 31, 2021 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of year $ 348,181 $ 85,571 $ 433,752 Charge-offs (10,715) — (10,715) Recoveries 12,598 — 12,598 Net recoveries 1,883 — 1,883 Provision (149,500) (12,500) (162,000) Balance, end of year $ 200,564 $ 73,071 $ 273,635 Year Ended December 31, 2020 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of year $ 138,785 $ 35,861 $ 174,646 Cumulative effect of change in accounting principle - CECL 3,617 3,710 7,327 Balance, January 1, 2020 142,402 39,571 181,973 Charge-offs (93,589) — (93,589) Recoveries 6,368 — 6,368 Net charge-offs (87,221) — (87,221) Provision 293,000 46,000 339,000 Balance, end of year $ 348,181 $ 85,571 $ 433,752 |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions, by Acquisition | The following assets acquired and liabilities assumed, both tangible and intangible, of the acquired entity are presented at estimated fair value as of the acquisition date: Acquisition and Acquisition and Date Acquired Date Acquired Homeowners Civic Association Financial Services Division of Services, MUFG Union Bank LLC October 8, 2021 February 1, 2021 (In thousands) Assets Acquired: Cash and due from banks $ 4,118,009 $ 37,331 Loans and leases 6,486 67,294 Premises and equipment 331 1,197 Goodwill 201,618 125,448 Core deposit and customer relationship intangibles 33,300 750 Other assets 3,149 75,977 Total assets acquired $ 4,362,893 $ 307,997 Liabilities Assumed: Noninterest-bearing demand deposits $ 1,585,810 $ 37,339 Interest-bearing deposits 2,536,965 — Total deposits 4,122,775 37,339 Borrowings — 50,210 Accrued interest payable and other liabilities 2,320 60,028 Total liabilities assumed $ 4,125,095 $ 147,577 Total consideration - paid in cash $ 237,798 $ 160,420 |
Investment Securities (Tables)
Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation | The following table presents amortized cost, gross unrealized gains and losses, and fair values of securities available-for-sale as of the dates indicated: December 31, 2021 2020 Gross Gross Gross Gross Amortized Unrealized Unrealized Fair Amortized Unrealized Unrealized Fair Security Type Cost Gains Losses Value Cost Gains Losses Value (In thousands) Agency residential MBS $ 2,921,993 $ 8,866 $ (32,649) $ 2,898,210 $ 329,488 $ 12,483 $ (897) $ 341,074 Municipal securities 2,248,749 75,192 (7,973) 2,315,968 1,438,004 93,631 (18) 1,531,617 Agency commercial MBS 1,660,516 37,664 (9,213) 1,688,967 1,207,676 74,238 (37) 1,281,877 Agency residential CMOs 1,021,716 22,288 (5,870) 1,038,134 1,172,166 47,994 (280) 1,219,880 U.S. Treasury securities 973,555 1,641 (8,298) 966,898 4,989 313 — 5,302 Corporate debt securities 514,077 13,774 (757) 527,094 308,803 3,490 (404) 311,889 Private label commercial MBS 453,314 147 (3,244) 450,217 81,878 1,089 (10) 82,957 Collateralized loan obligations 385,410 396 (444) 385,362 136,777 23 (924) 135,876 Private label residential CMOs 265,851 1,857 (3,291) 264,417 110,891 6,076 (21) 116,946 Asset-backed securities 129,387 484 (324) 129,547 166,861 445 (760) 166,546 SBA securities 28,950 726 (32) 29,644 39,437 2,217 (27) 41,627 Total $ 10,603,518 $ 163,035 $ (72,095) $ 10,694,458 $ 4,996,970 $ 241,999 $ (3,378) $ 5,235,591 |
Schedule of Realized Gain (Loss) | The following table presents the amortized cost of securities sold with related gross realized gains, gross realized losses, and net realized gains for the years indicated: Year Ended December 31, Sales of Securities Available-for-Sale 2021 2020 2019 (In thousands) Amortized cost of securities sold $ 365,733 $ 160,254 $ 1,559,415 Gross realized gains $ 1,680 $ 13,222 $ 29,584 Gross realized losses (65) (51) (4,139) Net realized gains $ 1,615 $ 13,171 $ 25,445 |
Unrealized losses on investment securities | Unrealized Losses on Securities Available-for-Sale The following tables present the gross unrealized losses and fair values of securities available-for-sale that were in unrealized loss positions as of the dates indicated: December 31, 2021 Less Than 12 Months 12 Months or More Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Security Type Value Losses Value Losses Value Losses (In thousands) Agency residential MBS $ 2,502,536 $ (31,670) $ 57,329 $ (979) $ 2,559,865 $ (32,649) Municipal securities 505,080 (6,965) 29,726 (1,008) 534,806 (7,973) Agency commercial MBS 440,938 (5,066) 106,745 (4,147) 547,683 (9,213) Agency residential CMOs 216,445 (3,757) 67,340 (2,113) 283,785 (5,870) U.S. Treasury securities 628,767 (8,298) — — 628,767 (8,298) Corporate debt securities 32,761 (757) — — 32,761 (757) Private label commercial MBS 397,619 (3,244) — — 397,619 (3,244) Collateralized loan obligations 137,619 (374) 43,730 (70) 181,349 (444) Private label residential CMOs 201,988 (3,291) — — 201,988 (3,291) Asset-backed securities 38,742 (137) 15,762 (187) 54,504 (324) SBA securities — — 1,864 (31) 1,864 (32) Total $ 5,102,495 $ (63,559) $ 322,496 $ (8,535) $ 5,424,991 $ (72,095) December 31, 2020 Less Than 12 Months 12 Months or More Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Security Type Value Losses Value Losses Value Losses (In thousands) Agency residential MBS $ 90,722 $ (897) $ — $ — $ 90,722 $ (897) Municipal securities 5,919 (18) — — 5,919 (18) Agency commercial MBS 58,408 (37) — — 58,408 (37) Agency residential CMOs 97,863 (280) — — 97,863 (280) Corporate debt securities 87,596 (404) — — 87,596 (404) Private label commercial MBS 3,058 (10) — — 3,058 (10) Collateralized loan obligations 96,442 (729) 28,972 (195) 125,414 (924) Private label residential CMOs 788 (19) 74 (2) 862 (21) Asset-backed securities 14,636 (53) 61,031 (707) 75,667 (760) SBA securities 2,127 (27) — — 2,127 (27) Total $ 457,559 $ (2,474) $ 90,077 $ (904) $ 547,636 $ (3,378) |
Investments Classified by Contractual Maturity Date | The following table presents the contractual maturities of our available-for-sale securities portfolio based on amortized cost and carrying value as of the date indicated. December 31, 2021 Amortized Fair Maturity Cost Value (In thousands) Due in one year or less $ 54,301 $ 54,685 Due after one year through five years 635,456 662,377 Due after five years through ten years 3,526,824 3,544,687 Due after ten years 6,386,937 6,432,709 Total securities available-for-sale $ 10,603,518 $ 10,694,458 |
Investment Income | The following table presents the composition of our interest income on investment securities for the years indicated: Year Ended December 31, 2021 2020 2019 (In thousands) Taxable interest $ 118,561 $ 80,426 $ 85,968 Non-taxable interest 33,916 24,771 27,955 Dividend income 991 1,573 1,646 Total interest income on investment securities $ 153,468 $ 106,770 $ 115,569 |
Loans and Leases (Tables)
Loans and Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Receivables [Abstract] | |
Schedule Of Composition of Loans Portfolio | The following table summarizes the composition of our loans and leases held for investment as of the dates indicated: December 31, 2021 2020 (In thousands) Real estate mortgage $ 11,189,278 $ 7,905,193 Real estate construction and land 3,491,340 3,393,145 Commercial 7,888,068 7,534,801 Consumer 457,622 320,218 Total gross loans and leases held for investment 23,026,308 19,153,357 Deferred fees, net (84,760) (69,980) Total loans and leases held for investment, net of deferred fees 22,941,548 19,083,377 Allowance for loan and lease losses (200,564) (348,181) Total loans and leases held for investment, net (1) $ 22,740,984 $ 18,735,196 ____________________ (1) Excludes accrued interest receivable of $80.3 million and $79.7 million at December 31, 2021 and December 31, 2019, respectively, which is recorded in "Other assets" on the consolidated balance sheets. |
Delinquent loans in loan portfolio | The following tables present an aging analysis of our loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated: December 31, 2021 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 5,307 $ 2,236 $ 7,543 $ 3,754,756 $ 3,762,299 Income producing and other residential 40,505 9,666 50,171 7,366,250 7,416,421 Total real estate mortgage 45,812 11,902 57,714 11,121,006 11,178,720 Real estate construction and land: Commercial — — — 832,591 832,591 Residential 7,271 2,223 9,494 2,595,042 2,604,536 Total real estate construction and land 7,271 2,223 9,494 3,427,633 3,437,127 Commercial: Asset-based — 464 464 4,075,013 4,075,477 Venture capital — — — 2,320,593 2,320,593 Other commercial 955 3,601 4,556 1,467,425 1,471,981 Total commercial 955 4,065 5,020 7,863,031 7,868,051 Consumer 1,004 276 1,280 456,370 457,650 Total $ 55,042 $ 18,466 $ 73,508 $ 22,868,040 $ 22,941,548 December 31, 2020 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 6,750 $ 29,145 $ 35,895 $ 4,060,776 $ 4,096,671 Income producing and other residential 600 373 973 3,802,292 3,803,265 Total real estate mortgage 7,350 29,518 36,868 7,863,068 7,899,936 Real estate construction and land: Commercial — — — 1,117,121 1,117,121 Residential 759 — 759 2,242,401 2,243,160 Total real estate construction and land 759 — 759 3,359,522 3,360,281 Commercial: Asset-based — 2,128 2,128 3,427,155 3,429,283 Venture capital 540 — 540 1,697,968 1,698,508 Other commercial 2,323 4,766 7,089 2,368,025 2,375,114 Total commercial 2,863 6,894 9,757 7,493,148 7,502,905 Consumer 1,260 111 1,371 318,884 320,255 Total $ 12,232 $ 36,523 $ 48,755 $ 19,034,622 $ 19,083,377 |
Financing Receivable Non Accrual And Performing | The following table presents our nonaccrual and performing loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated: December 31, 2021 2020 Nonaccrual Performing Total Nonaccrual Performing Total (In thousands) Real estate mortgage: Commercial $ 27,540 $ 3,734,759 $ 3,762,299 $ 43,731 $ 4,052,940 $ 4,096,671 Income producing and other residential 12,292 7,404,129 7,416,421 1,826 3,801,439 3,803,265 Total real estate mortgage 39,832 11,138,888 11,178,720 45,557 7,854,379 7,899,936 Real estate construction and land: Commercial — 832,591 832,591 315 1,116,806 1,117,121 Residential 4,715 2,599,821 2,604,536 — 2,243,160 2,243,160 Total real estate construction and land 4,715 3,432,412 3,437,127 315 3,359,966 3,360,281 Commercial: Asset-based 1,464 4,074,013 4,075,477 2,679 3,426,604 3,429,283 Venture capital 2,799 2,317,794 2,320,593 1,980 1,696,528 1,698,508 Other commercial 11,950 1,460,031 1,471,981 40,243 2,334,871 2,375,114 Total commercial 16,213 7,851,838 7,868,051 44,902 7,458,003 7,502,905 Consumer 414 457,236 457,650 389 319,866 320,255 Total $ 61,174 $ 22,880,374 $ 22,941,548 $ 91,163 $ 18,992,214 $ 19,083,377 |
CV of Loans Held for Investment by Class by Classified and Nonclassiified | The following tables present the credit risk rating categories for loans and leases held for investment by loan portfolio segment and class as of the dates indicated. Classified loans and leases are those with a credit risk rating of either substandard or doubtful. December 31, 2021 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 62,206 $ 191,809 $ 3,508,284 $ 3,762,299 Income producing and other residential 17,700 19,848 7,378,873 7,416,421 Total real estate mortgage 79,906 211,657 10,887,157 11,178,720 Real estate construction and land: Commercial — 67,727 764,864 832,591 Residential 4,715 1,720 2,598,101 2,604,536 Total real estate construction and land 4,715 69,447 3,362,965 3,437,127 Commercial: Asset-based 4,591 78,305 3,992,581 4,075,477 Venture capital 4,794 14,833 2,300,966 2,320,593 Other commercial 21,659 15,528 1,434,794 1,471,981 Total commercial 31,044 108,666 7,728,341 7,868,051 Consumer 439 1,841 455,370 457,650 Total $ 116,104 $ 391,611 $ 22,433,833 $ 22,941,548 December 31, 2020 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 91,543 $ 262,462 $ 3,742,666 $ 4,096,671 Income producing and other residential 8,767 61,384 3,733,114 3,803,265 Total real estate mortgage 100,310 323,846 7,475,780 7,899,936 Real estate construction and land: Commercial 42,558 107,592 966,971 1,117,121 Residential — 759 2,242,401 2,243,160 Total real estate construction and land 42,558 108,351 3,209,372 3,360,281 Commercial: Asset-based 27,867 153,301 3,248,115 3,429,283 Venture capital 6,508 118,125 1,573,875 1,698,508 Other commercial 87,557 14,930 2,272,627 2,375,114 Total commercial 121,932 286,356 7,094,617 7,502,905 Consumer 462 2,732 317,061 320,255 Total $ 265,262 $ 721,285 $ 18,096,830 $ 19,083,377 |
Troubled Debt Restructurings on Financing Receivables | TDRs are a result of rate reductions, term extensions, fee concessions, transfers to foreclosed assets, discounted loan payoffs, and debt forgiveness, or a combination thereof. Between March 2020 and December 2021, the Company granted various commercial and consumer loan modifications to provide borrowers relief from the economic impacts of COVID-19. In accordance with the CARES Act, the Company elected to not apply TDR classification to COVID-19 related loan modifications that met all of the requisite criteria as stipulated in the CARES Act. The following table presents our troubled debt restructurings of loans held for investment by loan portfolio segment and class for the years indicated: Troubled Debt Restructurings Troubled Debt Restructurings That Subsequently Defaulted (1) Pre-Modification Post-Modification Number Outstanding Outstanding Number of Recorded Recorded of Recorded Loans Investment Investment Loans Investment (1) (Dollars In thousands) Year Ended December 31, 2021 Real estate mortgage: Commercial 2 $ 647 $ — — $ — Income producing and other residential 6 802 802 — — Real estate construction and land: Residential 1 208 208 — — Commercial: Asset-based 2 1,987 1,987 1 464 Venture capital 5 4,502 2,529 — — Other commercial 40 48,760 30,786 3 2,066 Consumer 1 20 20 — — Total 57 $ 56,926 $ 36,332 4 $ 2,530 Year Ended December 31, 2020 Real estate mortgage: Commercial 12 $ 17,201 $ 4,222 1 $ 412 Income producing and other residential 9 1,816 1,816 — — Commercial: Asset-based 8 17,008 1,741 — — Venture capital 2 2,047 2,047 — — Other commercial 37 41,906 27,403 1 92 Consumer 3 212 212 — — Total 71 $ 80,190 $ 37,441 2 $ 504 Year Ended December 31, 2019 Real estate mortgage: Commercial 3 $ 121 $ — — $ — Income producing and other residential 9 1,591 1,591 1 254 Commercial: Asset-based 5 3,082 3,082 — — Venture capital 14 19,017 19,155 — — Other commercial 20 3,835 3,835 4 154 Total 51 $ 27,646 $ 27,663 5 $ 408 _________________________ |
Direct Financing Lease, Lease Income | The following table provides the components of leases receivable income for the period indicated: Year Ended December 31, 2021 2020 2019 (In thousands) Component of leases receivable income: Interest income on net investments in leases $ 8,976 $ 8,049 $ 11,061 |
Direct Finance Lease, Receivable Components | The following table presents the components of leases receivable as of the date indicated: December 31, 2021 2020 (In thousands) Net investment in direct financing leases: Lease payments receivable $ 190,025 $ 158,740 Unguaranteed residual assets 21,487 19,303 Deferred costs and other 1,373 996 Aggregate net investment in leases $ 212,885 $ 179,039 |
Sales-type and Direct Financing Leases, Lease Receivable, Maturity | The following table presents maturities of leases receivable as of the date indicated: December 31, 2021 (In thousands) Year Ending December 31, 2022 $ 54,831 2023 46,499 2024 42,154 2025 25,653 2026 17,829 Thereafter 26,423 Total undiscounted cash flows 213,389 Less: Unearned income (23,364) Present value of lease payments $ 190,025 |
Allowance for Loan Losses | The following tables present a summary of the activity in the allowance for loan and lease losses on loans and leases held for investment by loan portfolio segment for the years indicated: Year Ended December 31, 2021 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of year $ 138,342 $ 78,356 $ 126,403 $ 5,080 $ 348,181 Charge-offs (1,128) (782) (7,298) (1,507) (10,715) Recoveries 6,767 — 5,711 120 12,598 Net recoveries (charge-offs) 5,639 (782) (1,587) (1,387) 1,883 Provision (45,928) (32,495) (76,098) 5,021 (149,500) Balance, end of year $ 98,053 $ 45,079 $ 48,718 $ 8,714 $ 200,564 Ending Allowance by Evaluation Methodology: Individually evaluated $ 161 $ — $ 2,433 $ — $ 2,594 Collectively evaluated $ 97,892 $ 45,079 $ 46,285 $ 8,714 $ 197,970 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 37,030 $ 10,043 $ 31,317 $ — $ 78,390 Collectively evaluated 11,141,690 3,427,084 7,836,734 457,650 22,863,158 Ending balance $ 11,178,720 $ 3,437,127 $ 7,868,051 $ 457,650 $ 22,941,548 Year Ended December 31, 2020 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of year $ 44,575 $ 30,544 $ 61,528 $ 2,138 $ 138,785 Cumulative effect of change in accounting principle - CECL 5,308 (8,592) 6,860 41 3,617 Balance, January 1, 2020 49,883 21,952 68,388 2,179 142,402 Charge-offs (10,686) — (82,105) (798) (93,589) Recoveries 617 21 5,529 201 6,368 Net (charge-offs) recoveries (10,069) 21 (76,576) (597) (87,221) Provision 98,528 56,383 134,591 3,498 293,000 Balance, end of year $ 138,342 $ 78,356 $ 126,403 $ 5,080 $ 348,181 Ending Allowance by Evaluation Methodology: Individually evaluated $ 237 $ — $ 3,422 $ — $ 3,659 Collectively evaluated $ 138,105 $ 78,356 $ 122,981 $ 5,080 $ 344,522 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 50,139 $ 1,766 $ 81,171 $ — $ 133,076 Collectively evaluated 7,849,797 3,358,515 7,421,734 320,255 18,950,301 Ending balance $ 7,899,936 $ 3,360,281 $ 7,502,905 $ 320,255 $ 19,083,377 The allowance for loan and lease losses decreased by $147.6 million in 2021 due primarily to a provision benefit for loan and lease losses of $149.5 million. The lower provision for loan and lease losses in 2021 was primarily a re sult of improvement in both macroeconomic forecast variables and loan portfolio credit quality metrics. We actively participated in both rounds of the Paycheck Protection Program ("PPP"), under the provisions of the CARES Act during 2020 and 2021, originating $1.65 billion of such loans. As of December 31, 2021, PPP loans totaled $156.7 million, net of deferred fees. The loans have two or five year terms, ar e fully guaranteed by the SBA, and do not carry an allowance. A loan is considered collateral-dependent, and is individually evaluated for reserve purposes, when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. The following table summarizes collateral-dependent loans held for investment by collateral type as of the following date: December 31, 2021 2020 Real Business Real Business Property Assets Total Property Assets Total (In thousands) (In thousands) Real estate mortgage $ 30,817 $ — $ 30,817 $ 43,656 $ — $ 43,656 Real estate construction and land 10,421 — 10,421 1,766 — 1,766 Commercial — 7,586 7,586 — 31,100 31,100 Total $ 41,238 $ 7,586 $ 48,824 $ 45,422 $ 31,100 $ 76,522 The following tables present a summary of the activity in the allowance for loan and lease losses and reserve for unfunded loan commitments for the years indicated: Year Ended December 31, 2021 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of year $ 348,181 $ 85,571 $ 433,752 Charge-offs (10,715) — (10,715) Recoveries 12,598 — 12,598 Net recoveries 1,883 — 1,883 Provision (149,500) (12,500) (162,000) Balance, end of year $ 200,564 $ 73,071 $ 273,635 Year Ended December 31, 2020 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of year $ 138,785 $ 35,861 $ 174,646 Cumulative effect of change in accounting principle - CECL 3,617 3,710 7,327 Balance, January 1, 2020 142,402 39,571 181,973 Charge-offs (93,589) — (93,589) Recoveries 6,368 — 6,368 Net charge-offs (87,221) — (87,221) Provision 293,000 46,000 339,000 Balance, end of year $ 348,181 $ 85,571 $ 433,752 |
Loans and Leases | NOTE 5. LOANS AND LEASES Loans and Leases Held for Investment The following table summarizes the composition of our loans and leases held for investment as of the dates indicated: December 31, 2021 2020 (In thousands) Real estate mortgage $ 11,189,278 $ 7,905,193 Real estate construction and land 3,491,340 3,393,145 Commercial 7,888,068 7,534,801 Consumer 457,622 320,218 Total gross loans and leases held for investment 23,026,308 19,153,357 Deferred fees, net (84,760) (69,980) Total loans and leases held for investment, net of deferred fees 22,941,548 19,083,377 Allowance for loan and lease losses (200,564) (348,181) Total loans and leases held for investment, net (1) $ 22,740,984 $ 18,735,196 ____________________ (1) Excludes accrued interest receivable of $80.3 million and $79.7 million at December 31, 2021 and December 31, 2019, respectively, which is recorded in "Other assets" on the consolidated balance sheets. The following tables present an aging analysis of our loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated: December 31, 2021 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 5,307 $ 2,236 $ 7,543 $ 3,754,756 $ 3,762,299 Income producing and other residential 40,505 9,666 50,171 7,366,250 7,416,421 Total real estate mortgage 45,812 11,902 57,714 11,121,006 11,178,720 Real estate construction and land: Commercial — — — 832,591 832,591 Residential 7,271 2,223 9,494 2,595,042 2,604,536 Total real estate construction and land 7,271 2,223 9,494 3,427,633 3,437,127 Commercial: Asset-based — 464 464 4,075,013 4,075,477 Venture capital — — — 2,320,593 2,320,593 Other commercial 955 3,601 4,556 1,467,425 1,471,981 Total commercial 955 4,065 5,020 7,863,031 7,868,051 Consumer 1,004 276 1,280 456,370 457,650 Total $ 55,042 $ 18,466 $ 73,508 $ 22,868,040 $ 22,941,548 December 31, 2020 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 6,750 $ 29,145 $ 35,895 $ 4,060,776 $ 4,096,671 Income producing and other residential 600 373 973 3,802,292 3,803,265 Total real estate mortgage 7,350 29,518 36,868 7,863,068 7,899,936 Real estate construction and land: Commercial — — — 1,117,121 1,117,121 Residential 759 — 759 2,242,401 2,243,160 Total real estate construction and land 759 — 759 3,359,522 3,360,281 Commercial: Asset-based — 2,128 2,128 3,427,155 3,429,283 Venture capital 540 — 540 1,697,968 1,698,508 Other commercial 2,323 4,766 7,089 2,368,025 2,375,114 Total commercial 2,863 6,894 9,757 7,493,148 7,502,905 Consumer 1,260 111 1,371 318,884 320,255 Total $ 12,232 $ 36,523 $ 48,755 $ 19,034,622 $ 19,083,377 The following table presents our nonaccrual and performing loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated: December 31, 2021 2020 Nonaccrual Performing Total Nonaccrual Performing Total (In thousands) Real estate mortgage: Commercial $ 27,540 $ 3,734,759 $ 3,762,299 $ 43,731 $ 4,052,940 $ 4,096,671 Income producing and other residential 12,292 7,404,129 7,416,421 1,826 3,801,439 3,803,265 Total real estate mortgage 39,832 11,138,888 11,178,720 45,557 7,854,379 7,899,936 Real estate construction and land: Commercial — 832,591 832,591 315 1,116,806 1,117,121 Residential 4,715 2,599,821 2,604,536 — 2,243,160 2,243,160 Total real estate construction and land 4,715 3,432,412 3,437,127 315 3,359,966 3,360,281 Commercial: Asset-based 1,464 4,074,013 4,075,477 2,679 3,426,604 3,429,283 Venture capital 2,799 2,317,794 2,320,593 1,980 1,696,528 1,698,508 Other commercial 11,950 1,460,031 1,471,981 40,243 2,334,871 2,375,114 Total commercial 16,213 7,851,838 7,868,051 44,902 7,458,003 7,502,905 Consumer 414 457,236 457,650 389 319,866 320,255 Total $ 61,174 $ 22,880,374 $ 22,941,548 $ 91,163 $ 18,992,214 $ 19,083,377 The amount of interest income that would have been recorded on nonaccrual loans and leases at December 31, 2021 and 2020 had such loans and leases been current in accordance with their original terms was $4.9 million and $7.5 million for 2021 and 2020. At December 31, 2021, nonaccrual loans and leases included $18.5 million of loans and leases 90 or more days past due, $6.3 million of loans 30 to 89 days past due and $36.4 million of current loans that were placed on nonaccrual status based on management’s judgment regarding their collectability. At December 31, 2020, nonaccrual loans and leases included $36.5 million of loans and leases 90 or more days past due, $3.4 million of loans 30 to 89 days past due and $51.3 million of current loans that were placed on nonaccrual status based on management’s judgment regarding their collectability. As of December 31, 2021, our three largest loan relationships on nonaccrual status had an aggregate carrying value of $14.2 million and represented 23% of total nonaccrual loans and leases. The following tables present the credit risk rating categories for loans and leases held for investment by loan portfolio segment and class as of the dates indicated. Classified loans and leases are those with a credit risk rating of either substandard or doubtful. December 31, 2021 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 62,206 $ 191,809 $ 3,508,284 $ 3,762,299 Income producing and other residential 17,700 19,848 7,378,873 7,416,421 Total real estate mortgage 79,906 211,657 10,887,157 11,178,720 Real estate construction and land: Commercial — 67,727 764,864 832,591 Residential 4,715 1,720 2,598,101 2,604,536 Total real estate construction and land 4,715 69,447 3,362,965 3,437,127 Commercial: Asset-based 4,591 78,305 3,992,581 4,075,477 Venture capital 4,794 14,833 2,300,966 2,320,593 Other commercial 21,659 15,528 1,434,794 1,471,981 Total commercial 31,044 108,666 7,728,341 7,868,051 Consumer 439 1,841 455,370 457,650 Total $ 116,104 $ 391,611 $ 22,433,833 $ 22,941,548 December 31, 2020 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 91,543 $ 262,462 $ 3,742,666 $ 4,096,671 Income producing and other residential 8,767 61,384 3,733,114 3,803,265 Total real estate mortgage 100,310 323,846 7,475,780 7,899,936 Real estate construction and land: Commercial 42,558 107,592 966,971 1,117,121 Residential — 759 2,242,401 2,243,160 Total real estate construction and land 42,558 108,351 3,209,372 3,360,281 Commercial: Asset-based 27,867 153,301 3,248,115 3,429,283 Venture capital 6,508 118,125 1,573,875 1,698,508 Other commercial 87,557 14,930 2,272,627 2,375,114 Total commercial 121,932 286,356 7,094,617 7,502,905 Consumer 462 2,732 317,061 320,255 Total $ 265,262 $ 721,285 $ 18,096,830 $ 19,083,377 The following table presents our nonaccrual loans and leases by loan portfolio segment and class and by with and without an allowance recorded as of the date indicated and interest income recognized on nonaccrual loans and leases for the year indicated: At and For the Year Ended At and For the Year Ended December 31, 2021 December 31, 2020 Nonaccrual Interest Nonaccrual Interest Recorded Income Recorded Income Investment Recognized Investment Recognized (In thousands) With An Allowance Recorded: Real estate mortgage: Commercial $ 70 $ — $ 78 $ — Income producing and other residential 3,555 — 1,260 — Real estate construction and land: Commercial — — — — Residential 616 — — — Commercial: Asset based 1,000 — 2,128 — Venture capital 2,799 — 1,980 — Other commercial 1,081 — 2,438 — Consumer 19 — 389 — With No Related Allowance Recorded: Real estate mortgage: Commercial $ 27,470 $ 596 $ 43,653 $ 524 Income producing and other residential 8,737 — 566 — Real estate construction and land: Commercial — — 315 — Residential 4,099 — — — Commercial: Asset based 464 — 551 — Venture capital — — — — Other commercial 10,869 169 37,805 5,052 Consumer 395 — — — Total Loans and Leases With and Without an Allowance Recorded: Real estate mortgage $ 39,832 $ 596 $ 45,557 $ 524 Real estate construction and land 4,715 — 315 — Commercial 16,213 169 44,902 5,052 Consumer 414 — 389 — Total $ 61,174 $ 765 $ 91,163 $ 5,576 The following tables present our loans held for investment by loan portfolio segment and class, by credit quality indicator (internal risk ratings), and by year of origination (vintage year) as of the date indicated: Revolving Converted Amortized Cost Basis Term Loans by Origination Year Revolving to Term December 31, 2021 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Real Estate Mortgage: Commercial Internal risk rating: 1-2 High pass $ 561 $ 9,148 $ 32,304 $ 8,289 $ 6,248 $ 33,493 $ 3 $ — $ 90,046 3-4 Pass 499,626 531,989 321,728 578,436 489,727 932,950 51,805 11,977 3,418,238 5 Special mention — 4,811 63,381 76,372 6,533 40,712 — — 191,809 6-8 Classified — 488 17,037 5,340 6,278 33,063 — — 62,206 Total $ 500,187 $ 546,436 $ 434,450 $ 668,437 $ 508,786 $ 1,040,218 $ 51,808 $ 11,977 $ 3,762,299 Current YTD period: Gross charge-offs $ — $ — $ 189 $ 168 $ 344 $ 264 $ — $ — $ 965 Gross recoveries — — — — (8) (6,073) — — (6,081) Net $ — $ — $ 189 $ 168 $ 336 $ (5,809) $ — $ — $ (5,116) Real Estate Mortgage: Income Producing and Other Residential Internal risk rating: 1-2 High pass $ 95,016 $ 29,339 $ 57,874 $ 47,688 $ 11,776 $ 16,703 $ 28,115 $ — $ 286,511 3-4 Pass 4,405,055 623,207 573,718 616,515 547,531 234,525 91,655 156 7,092,362 5 Special mention 2,871 3,810 13,007 — — — 160 — 19,848 6-8 Classified 5,161 5,217 — 3,323 304 3,424 — 271 17,700 Total $ 4,508,103 $ 661,573 $ 644,599 $ 667,526 $ 559,611 $ 254,652 $ 119,930 $ 427 $ 7,416,421 Current YTD period: Gross charge-offs $ 28 $ 80 $ — $ — $ — $ 55 $ — $ — $ 163 Gross recoveries (28) — — — — (357) — (301) (686) Net $ — $ 80 $ — $ — $ — $ (302) $ — $ (301) $ (523) Real Estate Construction and Land: Commercial Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 96,108 96,448 386,832 152,444 720 14,122 18,190 — 764,864 5 Special mention — — — — 67,727 — — — 67,727 6-8 Classified — — — — — — — — — Total $ 96,108 $ 96,448 $ 386,832 $ 152,444 $ 68,447 $ 14,122 $ 18,190 $ — $ 832,591 Current YTD period: Gross charge-offs $ — $ — $ — $ 775 $ — $ — $ — $ — $ 775 Gross recoveries — — — — — — — — — Net $ — $ — $ — $ 775 $ — $ — $ — $ — $ 775 Revolving Converted Amortized Cost Basis Term Loans by Origination Year Revolving to Term December 31, 2021 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Real Estate Construction and Land: Residential Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 849,188 672,864 851,127 163,950 17,526 3,970 28,804 10,672 2,598,101 5 Special mention 276 1,185 — — 259 — — — 1,720 6-8 Classified 849 3,278 588 — — — — — 4,715 Total $ 850,313 $ 677,327 $ 851,715 $ 163,950 $ 17,785 $ 3,970 $ 28,804 $ 10,672 $ 2,604,536 Current YTD period: Gross charge-offs $ 7 $ — $ — $ — $ — $ — $ — $ — $ 7 Gross recoveries — — — — — — — — — Net $ 7 $ — $ — $ — $ — $ — $ — $ — $ 7 Commercial: Asset-Based Internal risk rating: 1-2 High pass $ 138,836 $ 72,725 $ 178,291 $ 123,947 $ 71,940 $ 188,411 $ 706,656 $ 50,495 $ 1,531,301 3-4 Pass 242,209 71,930 59,748 45,375 8,350 34,833 1,992,677 6,158 2,461,280 5 Special mention — — 48,796 13,138 — — 12,393 3,978 78,305 6-8 Classified — — — — — 464 4,027 100 4,591 Total $ 381,045 $ 144,655 $ 286,835 $ 182,460 $ 80,290 $ 223,708 $ 2,715,753 $ 60,731 $ 4,075,477 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ 232 $ 232 Gross recoveries — — — — — (691) (28) — (719) Net $ — $ — $ — $ — $ — $ (691) $ (28) $ 232 $ (487) Commercial: Venture Capital Internal risk rating: 1-2 High pass (1) $ — $ 1,999 $ — $ — $ (4) $ 14 $ 228,820 $ — $ 230,829 3-4 Pass 229,567 58,283 46,007 7,241 1,614 4,166 1,715,057 8,202 2,070,137 5 Special mention 8,980 2,778 499 — — 2,593 (17) — 14,833 6-8 Classified 500 — — 2,000 — — (6) 2,300 4,794 Total $ 239,047 $ 63,060 $ 46,506 $ 9,241 $ 1,610 $ 6,773 $ 1,943,854 $ 10,502 $ 2,320,593 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ 620 $ — $ — $ 620 Gross recoveries — — (127) (37) (158) (82) — — (404) Net $ — $ — $ (127) $ (37) $ (158) $ 538 $ — $ — $ 216 ____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees. Revolving Converted Amortized Cost Basis Term Loans by Origination Year Revolving to Term December 31, 2021 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Commercial: Other Commercial Internal risk rating: 1-2 High pass (1) $ 134,825 $ 22,556 $ 261 $ 4 $ 246 $ (50) $ 18,206 $ 693 $ 176,741 3-4 Pass 286,281 73,328 77,487 67,591 46,939 89,408 607,197 9,822 1,258,053 5 Special mention — 291 1 2,088 115 11,911 1,061 61 15,528 6-8 Classified 53 1 395 (3) 223 4,212 15,731 1,047 21,659 Total $ 421,159 $ 96,176 $ 78,144 $ 69,680 $ 47,523 $ 105,481 $ 642,195 $ 11,623 $ 1,471,981 Current YTD period: Gross charge-offs $ 1,992 $ — $ 122 $ 47 $ 139 $ 797 $ 985 $ 2,364 $ 6,446 Gross recoveries — — (42) — (268) (4,076) (57) (145) (4,588) Net $ 1,992 $ — $ 80 $ 47 $ (129) $ (3,279) $ 928 $ 2,219 $ 1,858 Consumer Internal risk rating: 1-2 High pass $ 36 $ 11 $ — $ 5 $ 4 $ — $ 646 $ — $ 702 3-4 Pass 261,678 24,195 73,860 35,623 21,707 31,916 5,689 — 454,668 5 Special mention 797 363 496 — 50 135 — — 1,841 6-8 Classified — 22 123 111 21 143 — 19 439 Total $ 262,511 $ 24,591 $ 74,479 $ 35,739 $ 21,782 $ 32,194 $ 6,335 $ 19 $ 457,650 Current YTD period: Gross charge-offs $ — $ 185 $ 654 $ 156 $ 270 $ 188 $ — $ 54 $ 1,507 Gross recoveries — — — (27) (13) (79) (1) — (120) Net $ — $ 185 $ 654 $ 129 $ 257 $ 109 $ (1) $ 54 $ 1,387 Total Loans and Leases Internal risk rating: 1-2 High pass $ 369,274 $ 135,778 $ 268,730 $ 179,933 $ 90,210 $ 238,571 $ 982,446 $ 51,188 $ 2,316,130 3-4 Pass 6,869,712 2,152,244 2,390,507 1,667,175 1,134,114 1,345,890 4,511,074 46,987 20,117,703 5 Special mention 12,924 13,238 126,180 91,598 74,684 55,351 13,597 4,039 391,611 6-8 Classified 6,563 9,006 18,143 10,771 6,826 41,306 19,752 3,737 116,104 Total $ 7,258,473 $ 2,310,266 $ 2,803,560 $ 1,949,477 $ 1,305,834 $ 1,681,118 $ 5,526,869 $ 105,951 $ 22,941,548 Current YTD period: Gross charge-offs $ 2,027 $ 265 $ 965 $ 1,146 $ 753 $ 1,924 $ 985 $ 2,650 $ 10,715 Gross recoveries (28) — (169) (64) (447) (11,358) (86) (446) (12,598) Net $ 1,999 $ 265 $ 796 $ 1,082 $ 306 $ (9,434) $ 899 $ 2,204 $ (1,883) ____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees. Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term December 31, 2020 2020 2019 2018 2017 2016 Prior Loans Loans Total (In thousands) Real Estate Mortgage: Commercial Internal risk rating: 1-2 High pass $ — $ 28,304 $ 4,848 $ 13,184 $ 12,241 $ 41,222 $ — $ — $ 99,799 3-4 Pass 554,143 413,785 574,497 725,503 405,367 893,008 62,586 13,978 3,642,867 5 Special mention 2,622 78,484 99,397 14,625 9,967 57,367 — — 262,462 6-8 Classified 504 1,255 7,489 7,869 16,797 57,629 — — 91,543 Total $ 557,269 $ 521,828 $ 686,231 $ 761,181 $ 444,372 $ 1,049,226 $ 62,586 $ 13,978 $ 4,096,671 Current YTD period: Gross charge-offs $ — $ — $ 154 $ 3,330 $ — $ 6,694 $ — $ — $ 10,178 Gross recoveries — — — (9) — (280) — — (289) Net $ — $ — $ 154 $ 3,321 $ — $ 6,414 $ — $ — $ 9,889 Real Estate Mortgage: Income Producing and Other Residential Internal risk rating: 1-2 High pass $ 58,714 $ 55,826 $ 28,831 $ 33,017 $ 18,991 $ 9,265 $ — $ — $ 204,644 3-4 Pass 491,504 850,978 1,067,109 577,906 238,499 187,959 113,987 528 3,528,470 5 Special mention 12,307 4,207 42,455 1,554 — — 861 — 61,384 6-8 Classified — — 2,862 — — 4,950 118 837 8,767 Total $ 562,525 $ 911,011 $ 1,141,257 $ 612,477 $ 257,490 $ 202,174 $ 114,966 $ 1,365 $ 3,803,265 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ 51 $ — $ 457 $ 508 Gross recoveries — — — — — (327) (1) — (328) Net $ — $ — $ — $ — $ — $ (276) $ (1) $ 457 $ 180 Real Estate Construction and Land: Commercial Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 66,114 369,588 357,295 118,586 36,027 11,778 7,583 — 966,971 5 Special mention — — 40,396 67,196 — — — — 107,592 6-8 Classified — — — — 42,243 315 — — 42,558 Total $ 66,114 $ 369,588 $ 397,691 $ 185,782 $ 78,270 $ 12,093 $ 7,583 $ — $ 1,117,121 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Gross recoveries — — — — — — — — — Net $ — $ — $ — $ — $ — $ — $ — $ — $ — Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term December 31, 2020 2020 2019 2018 2017 2016 Prior Loans Loans Total (In thousands) Real Estate Construction and Land: Residential Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 345,134 670,894 849,819 285,072 28,725 688 9,034 53,035 2,242,401 5 Special mention 759 — — — — — — — 759 6-8 Classified — — — — — — — — — Total $ 345,893 $ 670,894 $ 849,819 $ 285,072 $ 28,725 $ 688 $ 9,034 $ 53,035 $ 2,243,160 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Gross recoveries — — — — — (21) — — (21) Net $ — $ — $ — $ — $ — $ (21) $ — $ — $ (21) Commercial: Asset-Based Internal risk rating: 1-2 High pass $ 116,247 $ 173,457 $ 111,630 $ 69,244 $ 121,838 $ 88,201 $ 275,093 $ 72,017 $ 1,027,727 3-4 Pass 155,221 84,798 85,539 42,928 8,227 46,663 1,750,934 46,078 2,220,388 5 Special mention — 59,822 41,789 9,022 14,274 482 23,257 4,655 153,301 6-8 Classified — — — — 19,417 551 8,799 (900) 27,867 Total $ 271,468 $ 318,077 $ 238,958 $ 121,194 $ 163,756 $ 135,897 $ 2,058,083 $ 121,850 $ 3,429,283 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ 11,817 $ — $ — $ 11,817 Gross recoveries (52) — — — — (420) (236) — (708) Net $ (52) $ — $ — $ — $ — $ 11,397 $ (236) $ — $ 11,109 Commercial: Venture Capital Internal risk rating: 1-2 High pass $ 1,999 $ 4,797 $ — $ (4) $ (4) $ 52 $ 167,296 $ — $ 174,136 3-4 Pass 48,132 103,437 37,818 7,789 29,738 5,494 1,161,606 5,725 1,399,739 5 Special mention 21,645 42,499 2,202 — — — 46,765 5,014 118,125 6-8 Classified — (1,710) 4,000 — — 3,690 528 — 6,508 Total $ 71,776 $ 149,023 $ 44,020 $ 7,785 $ 29,734 $ 9,236 $ 1,376,195 $ 10,739 $ 1,698,508 Current YTD period: Gross charge-offs $ — $ — $ 6,533 $ — $ (8) $ 150 $ 144 $ — $ 6,819 Gross recoveries — — (478) (176) (154) (3) (450) — (1,261) Net $ — $ — $ 6,055 $ (176) $ (162) $ 147 $ (306) $ — $ 5,558 Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term December 31, 2020 2020 2019 2018 2017 2016 Prior Loans Loans Total (In thousands) Commercial: Other Commercial Internal risk rating: 1-2 High pass $ 1,057,405 $ 380 $ 4 $ 366 $ 69 $ 1,350 $ 74,206 $ 80 $ 1,133,860 3-4 Pass 88,875 95,110 99,434 77,557 23,305 89,865 657,088 7,533 1,138,767 5 Special mention — 40 2,145 564 484 10,440 335 922 14,930 6-8 Classified 2 564 80 230 755 3,813 75,046 7,067 87,557 Total $ 1,146,282 $ 96,094 $ 101,663 $ 78,717 $ 24,613 $ 105,468 $ 806,675 $ 15,602 $ 2,375,114 Current YTD period: Gross charge-offs $ — $ — $ — $ 506 $ 239 $ 33,521 $ 27,332 $ 1,871 $ 63,469 Gross recoveries — (18) (8) (34) (226) (3,155) (100) (19) (3,560) Net $ — $ (18) $ (8) $ 472 $ 13 $ 30,366 $ 27,232 $ 1,852 $ 59,909 Consumer Internal risk rating: 1-2 High pass $ 15 $ — $ 8 $ 14 $ — $ — $ 509 $ — $ 546 3-4 Pass 40,585 110,993 62,833 39,036 41,623 12,831 8,536 78 316,515 5 Special mention 45 137 1,628 261 422 239 — — 2,732 6-8 Classified — 35 — 36 56 306 2 27 462 Total $ 40,645 $ 111,165 $ 64,469 $ 39,347 $ 42,101 $ 13,376 $ 9,047 $ 105 $ 320,255 Current YTD period: Gross charge-offs $ — $ 97 $ 86 $ 177 $ 363 $ 44 $ 22 $ 9 $ 798 Gross recoveries — — (1) (10) (16) (174) — — (201) Net $ — $ 97 $ 85 $ 167 $ 347 $ (130) $ 22 $ 9 $ 597 Total Loans and Leases Internal risk rating: 1-2 High pass $ 1,234,380 $ 262,764 $ 145,321 $ 115,821 $ 153,135 $ 140,090 $ 517,104 $ 72,097 $ 2,640,712 3-4 Pass 1,789,708 2,699,583 3,134,344 1,874,377 811,511 1,248,286 3,771,354 126,955 15,456,118 5 Special mention 37,378 185,189 230,012 93,222 25,147 68,528 71,218 10,591 721,285 6-8 Classified 506 144 14,431 8,135 79,268 71,254 84,493 7,031 265,262 Total $ 3,061,972 $ 3,147,680 $ 3,524,108 $ 2,091,555 $ 1,069,061 $ 1,528,158 $ 4,444,169 $ 216,674 $ 19,083,377 Current YTD period: Gross charge-offs $ — $ 97 $ 6,773 $ 4,013 $ 594 $ 52,277 $ 27,498 $ 2,337 $ 93,589 Gross recoveries (52) (18) (487) (229) (396) (4,380) (787) (19) (6,368) Net $ (52) $ 79 $ 6,286 $ 3,784 $ 198 $ 47,897 $ 26,711 $ 2,318 $ 87,221 ______________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees. TDRs are a result of rate reductions, term extensions, fee concessions, transfers to foreclosed assets, discounted loan payoffs, and debt forgiveness, or a combination thereof. Between March 2020 and December 2021, the Company granted various commercial and consumer loan modifications to provide borrowers relief from the economic impacts of COVID-19. In accordance with the CARES Act, the Company elected to not apply TDR classification to COVID-19 related loan modifications that met all of the requisite criteria as stipulated in the CARES Act. The following table presents our troubled debt restructurings of loans held for investment by loan portfolio segment and class for the years indicated: Troubled Debt Restructurings Troubled Debt Restructurings That Subsequently Defaulted (1) Pre-Modification Post-Modification Number Outstanding Outstanding Number of Recorded Recorded of Recorded Loans Investment Investment Loans Investment (1) (Dollars In thousands) Year Ended December 31, 2021 Real estate mortgage: Commercial 2 $ 647 $ — — $ — Income producing and other residential 6 802 802 — — Real estate construction and land: Residential 1 208 208 — — Commercial: Asset-based 2 1,987 1,987 1 464 Venture capital 5 4,502 2,529 — — Other commercial 40 48,760 30,786 3 2,066 Consumer 1 20 20 — — Total 57 $ 56,926 $ 36,332 4 $ 2,530 Year Ended December 31, 2020 Real estate mortgage: Commercial 12 $ 17,201 $ 4,222 1 $ 412 Income producing and other residential 9 1,816 1,816 — — Commercial: Asset-based 8 17,008 1,741 — — Venture capital 2 2,047 2,047 — — Other commercial 37 41,906 27,403 1 92 Consumer 3 212 212 — — Total 71 $ 80,190 $ 37,441 2 $ 504 Year Ended December 31, 2019 Real estate mortgage: Commercial 3 $ 121 $ — — $ — Income producing and other residential 9 1,591 1,591 1 254 Commercial: Asset-based 5 3,082 3,082 — — Venture capital 14 19,017 19,155 — — Other commercial 20 3,835 3,835 4 154 Total 51 $ 27,646 $ 27,663 5 $ 408 _________________________ (1) The population of defaulted TDRs for the period indicated includes only those loans restructured during the preceding 12-month period. For example, for the year ended December 31, 2021, the population of defaulted TDRs includes only those loans restructured after December 31, 2020. The table excludes defaulted TDRs in those classes for which the recorded investment was zero at the end of the period. At December 31, 2021 and 2020, we had unfunded commitments related to TDRs of $2.0 million and $0.9 million. Leases Receivable We provide equipment financing to our customers primarily with operating and direct financing leases. For direct financing leases, lease receivables are recorded on the balance sheet but the leased equipment is not, although we generally retain legal title to the leased equipment until the end of each lease. Direct financing leases are stated at the net amount of minimum lease payments receivable, plus any unguaranteed residual value, less the amount of unearned income and net acquisition discount at the reporting date. Direct lease origination costs are amortized using the effective interest method over the life of the leases. Direct financing leases are subject to our accounting for allowance for loan and lease losses. See Note 10. Leases for information regarding operating leases where we are the lessor. The following table provides the components of leases receivable income for the period indicated: Year Ended December 31, 2021 2020 2019 (In thousands) Component of leases receivable income: Interest income on net investments in leases $ 8,976 $ 8,049 $ 11,061 The following table presents the components of leases receivable as of the date indicated: December 31, 2021 2020 (In thousands) Net investment in direct financing leases: Lease payments receivable $ 190,025 $ 158,740 Unguaranteed residual assets 21,487 19,303 Deferred costs and other 1,373 996 Aggregate net investment in leases $ 212,885 $ 179,039 The following table presents maturities of leases receivable as of the date indicated: December 31, 2021 (In thousands) Year Ending December 31, 2022 $ 54,831 2023 46,499 2024 42,154 2025 25,653 2026 17,829 Thereafter 26,423 Total undiscounted cash flows 213,389 Less: Unearned income (23,364) Present value of lease payments $ 190,025 Allowance for Loan and Lease Losses The following tables present a summary of the activity in the allowance for loan and lease losses on loans and leases held for investment by loan portfolio segment for the years indicated: Year Ended December 31, 2021 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of year $ 138,342 $ 78,356 $ 126,403 $ 5,080 $ 348,181 Charge-offs (1,128) (782) (7,298) (1,507) (10,715) Recoveries 6,767 — 5,711 120 12,598 Net recoveries (charge-offs) 5,639 (782) (1,587) (1,387) 1,883 Provision (45,928) (32,495) (76,098) 5,021 (149,500) Balance, end of year $ 98,053 $ 45,079 $ 48,718 $ 8,714 $ 200,564 Ending Allowance by Evaluation Methodology: Individually evaluated $ 161 $ — $ 2,433 $ — $ 2,594 Collectively evaluated $ 97,892 $ 45,079 $ 46,285 $ 8,714 $ 197,970 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 37,030 $ 10,043 $ 31,317 $ — $ 78,390 Collectively evaluated 11,141,690 3,427,084 7,836,734 457,650 22,863,158 Ending balance $ 11,178,720 $ 3,437,127 $ 7,868,051 $ 457,650 $ 22,941,548 Year Ended December 31, 2020 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of year $ 44,575 $ 30,544 $ 61,528 $ 2,138 $ 138,785 Cumulative effect of change in accounting principle - CECL 5,308 (8,592) 6,860 41 3,617 Balance, January 1, 2020 49,883 21,952 68,388 2,179 142,402 Charge-offs (10,686) — (82,105) (798) (93,589) Recoveries 617 21 5,529 201 6,368 Net (charge-offs) recoveries (10,069) 21 (76,576) (597) (87,221) Provision 98,528 56,383 134,591 3,498 293,000 Balance, end of year $ 138,342 $ 78,356 $ 126,403 $ 5,080 $ 348,181 Ending Allowance by Evaluation Methodology: Individually evaluated $ 237 $ — $ 3,422 $ — $ 3,659 Collectively evaluated $ 138,105 $ 78,356 $ 122,981 $ 5,080 $ 344,522 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 50,139 $ 1,766 $ 81,171 $ — $ 133,076 Collectively evaluated 7,849,797 3,358,515 7,421,734 320,255 18,950,301 Ending balance $ 7,899,936 $ 3,360,281 $ 7,502,905 $ 320,255 $ 19,083,377 The allowance for loan and lease losses decreased by $147.6 million in 2021 due primarily to a provision benefit for loan and lease losses of $149.5 million. The lower provision for loan and lease losses in 2021 was primarily a re sult of improvement in both macroeconomic forecast variables and loan portfolio credit quality metrics. We actively participated in both rounds of the Paycheck Protection Program ("PPP"), under the provisions of the CARES Act during 2020 and 2021, originating $1.65 billion of such loans. As of December 31, 2021, PPP loans totaled $156.7 million, net of deferred fees. The loans have two or five year terms, ar e fully guaranteed by the SBA, and do not carry an allowance. A loan is considered collateral-dependent, and is individually evaluated for reserve purposes, when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. The following table summarizes collateral-dependent loans held for investment by collateral type as of the following date: December 31, 2021 2020 Real Business Real Business Property Assets Total Property Assets Total (In thousands) (In thousands) Real estate mortgage $ 30,817 $ — $ 30,817 $ 43,656 $ — $ 43,656 Real estate construction and land 10,421 — 10,421 1,766 — 1,766 Commercial — 7,586 7,586 — 31,100 31,100 Total $ 41,238 $ 7,586 $ 48,824 $ 45,422 $ 31,100 $ 76,522 Allowance for Credit Losses The allowance for credit losses is the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments. The reserve for unfunded loan commitments is included within "Accrued interest payable and other liabilities" on the consolidated balance sheets. The following tables present a summary of the activity in the allowance for loan and lease losses and reserve for unfunded loan commitments for the years indicated: Year Ended December 31, 2021 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of year $ 348,181 $ 85,571 $ 433,752 Charge-offs (10,715) — (10,715) Recoveries 12,598 — 12,598 Net recoveries 1,883 — 1,883 Provision (149,500) (12,500) (162,000) Balance, end of year $ 200,564 $ 73,071 $ 273,635 Year Ended December 31, 2020 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of year $ 138,785 $ 35,861 $ 174,646 Cumulative effect of change in accounting principle - CECL 3,617 3,710 7,327 Balance, January 1, 2020 142,402 39,571 181,973 Charge-offs (93,589) — (93,589) Recoveries 6,368 — 6,368 Net charge-offs (87,221) — (87,221) Provision 293,000 46,000 339,000 Balance, end of year $ 348,181 $ 85,571 $ 433,752 |
Foreclosed Assets Foreclosed As
Foreclosed Assets Foreclosed Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract] | |
Other Real Estate and Foreclosed Assets | The following table summarizes foreclosed assets as of the dates indicated: December 31, Property Type 2021 2020 (In thousands) Commercial real estate $ 12,594 $ 12,979 Construction and land development — 219 Total other real estate owned, net 12,594 13,198 Other foreclosed assets 249 829 Total foreclosed assets, net $ 12,843 $ 14,027 |
Other Foreclosed Assets Rollforward | The following table presents the changes in foreclosed assets, net of the valuation allowance, for the years indicated: Year Ended December 31, Foreclosed Assets 2021 2020 2019 (In thousands) Balance, beginning of year $ 14,027 $ 440 $ 5,299 Transfers to foreclosed assets from loans 1,062 14,755 120 Provision for losses (14) (267) (78) Reductions related to sales (2,232) (901) (4,901) Balance, end of year $ 12,843 $ 14,027 $ 440 |
Foreclosed Assets Valuation Allowance Rollforward | The following table presents the changes in the foreclosed assets valuation allowance for the years indicated: Year Ended December 31, Foreclosed Assets Valuation Allowance 2021 2020 2019 (In thousands) Balance, beginning of year $ 354 $ 87 $ 88 Provision for losses 14 267 78 Reductions related to sales (176) — (79) Balance, end of year $ 192 $ 354 $ 87 |
Premises and Equipment, Net Pre
Premises and Equipment, Net Premises and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Premises and Equipment, Net [Abstract] | |
Property, Plant and Equipment | The following table presents the components of premises and equipment as of the dates indicated: December 31, 2021 2020 (In thousands) Land $ 1,243 $ 1,243 Buildings 9,488 8,459 Furniture, fixtures and equipment 50,509 50,892 Leasehold improvements 66,143 60,622 Other assets 6,882 — Premises and equipment, gross 134,265 121,216 Less: accumulated depreciation and amortization (87,525) (81,982) Premises and equipment, net $ 46,740 $ 39,234 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets Disclosure | The following table presents the changes in CDI and CRI and the related accumulated amortization for the years indicated: Year Ended December 31, 2021 2020 2019 (In thousands) Gross Amount of CDI and CRI: Balance, beginning of year $ 109,646 $ 117,573 $ 119,497 Addition from the Civic acquisition 750 — — Addition from the HOA Business acquisition 33,300 — — Fully amortized portion (9,846) (7,927) (1,924) Balance, end of year 133,850 109,646 117,573 Accumulated Amortization: Balance, beginning of year (86,005) (79,179) (62,377) Amortization expense (12,734) (14,753) (18,726) Fully amortized portion 9,846 7,927 1,924 Balance, end of year (88,893) (86,005) (79,179) Net CDI and CRI, end of year $ 44,957 $ 23,641 $ 38,394 |
Schedule of Goodwill | The following table presents the changes in the carrying amount of goodwill for the years indicated: Goodwill (In thousands) Balance, December 31, 2019 $ 2,548,670 Impairment (1,470,000) Balance, December 31, 2020 1,078,670 Addition from the Civic acquisition 125,448 Addition from the HOA Business acquisition 201,618 Balance, December 31, 2021 $ 1,405,736 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The following table presents the estimated aggregate future amortization expense for our current intangible assets as of the date indicated: December 31, 2021 (In thousands) Year Ending December 31, 2022 $ 13,575 2023 9,085 2024 6,404 2025 4,087 2026 3,482 Thereafter 8,324 Net CDI and CRI $ 44,957 |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Other Assets [Abstract] | |
Other Assets | The following table presents the detail of our other assets as of the dates indicated: December 31, Other Assets 2021 2020 (In thousands) LIHTC investments $ 297,746 $ 213,034 Cash surrender value of BOLI 203,836 203,031 Operating lease ROU assets, net (1) 123,225 119,787 Interest receivable 120,329 101,596 Equity investments without readily determinable fair values 62,975 34,304 SBIC investments 46,861 32,327 Taxes receivable 36,011 59,565 Equity investments with readily determinable fair values 28,578 6,147 Prepaid expenses 27,632 22,999 Equity warrants (2) 3,555 4,520 Other receivables/assets 133,244 63,016 Total other assets $ 1,083,992 $ 860,326 ____________________ (1) See Note 10. Leases for further details regarding the operating lease ROU assets. (2) See Note 13. Derivatives for |
Leases Leases (Tables)
Leases Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Lease, Cost | The following table presents the components of lease expense for the period indicated: Year Ended December 31, 2021 2020 (In thousands) Operating lease expense: Fixed costs $ 34,541 $ 34,393 Variable costs 59 51 Short-term lease costs 1,347 385 Sublease income (4,474) (4,171) Net lease expense $ 31,473 $ 30,658 The following table presents supplemental cash flow information related to leases for the period indicated: Year Ended December 31, 2021 2020 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 36,212 $ 33,889 ROU assets obtained in exchange for lease obligations: Operating leases $ 35,820 $ 24,309 |
Supplemental Balance Sheet Disclosures | The following table presents supplemental balance sheet and other information related to operating leases as of the date indicated: December 31, 2021 December 31, 2020 (Dollars in thousands) Operating leases: Operating lease right-of-use assets, net $ 123,225 $ 119,787 Operating lease liabilities $ 142,117 $ 139,501 Weighted average remaining lease term (in years) 5.6 5.8 Weighted average discount rate 2.23 % 2.54 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | The following table presents the maturities of operating lease liabilities as of the date indicated: December 31, 2021 (In thousands) Year Ending December 31, 2022 $ 35,102 2023 32,945 2024 25,816 2025 18,900 2026 13,706 Thereafter 25,715 Total operating lease liabilities 152,184 Less: Imputed interest (10,067) Present value of operating lease liabilities $ 142,117 |
Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block] | The following table presents the contractual rental payments to be received on operating leases as of the date indicated: December 31, 2021 (In thousands) Year Ending December 31, 2022 $ 49,300 2023 40,825 2024 35,186 2025 25,008 2026 19,245 Thereafter 35,172 Total undiscounted cash flows $ 204,736 |
Deposits Deposits (Tables)
Deposits Deposits (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Deposits [Abstract] | |
Summary of Interest Bearing Deposits | The following table presents the components of interest‑bearing deposits as of the dates indicated: December 31, Deposit Composition 2021 2020 (In thousands) Interest checking $ 7,386,269 $ 5,999,245 Money market 11,064,870 7,658,049 Savings 630,653 562,826 Time deposits $250,000 and under 885,938 994,197 Time deposits over $250,000 486,894 532,573 Total interest-bearing deposits $ 20,454,624 $ 15,746,890 |
Schedule of Maturities Of Time Deposits | The following table summarizes the maturities of time deposits as of the date indicated: Time Deposits $250,000 Over December 31, 2021 and Under $250,000 Total (In thousands) Year of Maturity: 2022 $ 663,169 $ 473,700 $ 1,136,869 2023 110,917 10,824 121,741 2024 52,897 505 53,402 2025 56,067 546 56,613 2026 2,859 1,319 4,178 Thereafter 29 — 29 Total $ 885,938 $ 486,894 $ 1,372,832 |
Borrowings and Subordinated D_2
Borrowings and Subordinated Debentures (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of Debt | The following table summarizes our borrowings as of the dates indicated: December 31, 2021 2020 Weighted Weighted Average Average Borrowing Type Balance Rate Balance Rate (Dollars in thousands) FHLB secured advances $ — — % $ 5,000 — % Total borrowings $ — — % $ 5,000 — % |
Schedule of Line of Credit Facilities | The following table presents the interest rates and maturity dates of FHLB secured advances as of the dates indicated: December 31, 2021 2020 Maturity Maturity Balance Rate Date Balance Rate Date (Dollars in thousands) Term advance — — % 5,000 — % 5/6/2021 Total FHLB secured advances $ — — % $ 5,000 — % |
Borrowings Subordinated Debentures And Brokered Deposits Disclosure | The following table summarizes the terms of each issuance of subordinated debt outstanding as of the dates indicated: December 31, 2021 2020 Issue Maturity Rate Index Series Balance Rate (1) Balance Rate (1) Date Date (Quarterly Reset) (6) (Dollars in thousands) Subordinated notes, net (2) $ 394,634 3.25 % $ — — % 4/30/2021 5/1/2031 Fixed rate (3) Trust V 10,310 3.32 % 10,310 3.33 % 8/15/2003 9/17/2033 3-month LIBOR + 3.10 Trust VI 10,310 3.25 % 10,310 3.27 % 9/3/2003 9/15/2033 3-month LIBOR + 3.05 Trust CII 5,155 3.17 % 5,155 3.18 % 9/17/2003 9/17/2033 3-month LIBOR + 2.95 Trust VII 61,856 2.88 % 61,856 2.96 % 2/5/2004 4/23/2034 3-month LIBOR + 2.75 Trust CIII 20,619 1.89 % 20,619 1.91 % 8/15/2005 9/15/2035 3-month LIBOR + 1.69 Trust FCCI 16,495 1.80 % 16,495 1.82 % 1/25/2007 3/15/2037 3-month LIBOR + 1.60 Trust FCBI 10,310 1.75 % 10,310 1.77 % 9/30/2005 12/15/2035 3-month LIBOR + 1.55 Trust CS 2005-1 82,475 2.15 % 82,475 2.17 % 11/21/2005 12/15/2035 3-month LIBOR + 1.95 Trust CS 2005-2 128,866 2.08 % 128,866 2.16 % 12/14/2005 1/30/2036 3-month LIBOR + 1.95 Trust CS 2006-1 51,545 2.08 % 51,545 2.16 % 2/22/2006 4/30/2036 3-month LIBOR + 1.95 Trust CS 2006-2 51,550 2.08 % 51,550 2.16 % 9/27/2006 10/30/2036 3-month LIBOR + 1.95 Trust CS 2006-3 (4) 29,306 1.49 % 31,487 1.54 % 9/29/2006 10/30/2036 3-month EURIBOR + 2.05 Trust CS 2006-4 16,470 2.08 % 16,470 2.16 % 12/5/2006 1/30/2037 3-month LIBOR + 1.95 Trust CS 2006-5 6,650 2.08 % 6,650 2.16 % 12/19/2006 1/30/2037 3-month LIBOR + 1.95 Trust CS 2007-2 39,177 2.08 % 39,177 2.16 % 6/13/2007 7/30/2037 3-month LIBOR + 1.95 Total subordinated debt 935,728 2.64 % 543,275 2.24 % Acquisition discount (5) (72,445) (77,463) Net subordinated debt $ 863,283 $ 465,812 ___________________ (1) Rates do not include the effects of discounts and issuance costs. (2) Net of unamortized issuance costs of $5.4 million. (3) Interest rate is fixed until May 1, 2026, when it changes to a floating rate and resets quarterly at a benchmark rate plus 252 basis points. (4) Denomination is in Euros with a value of €25.8 million. (5) Amount represents the fair value adjustment on trust preferred securities assumed in acquisitions. (6) Interest rate will default to the last published or determined rate of LIBOR, and for Trust CS 2006-4, the Base Rate, defined as the greater of Prime and the federal funds rate, upon cessation of LIBOR and effectively converting these instruments to fixed rate, if not modified prior to June 30, 2023. |
Derivatives (Tables)
Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Assets at Fair Value | The following table presents the U.S. dollar notional amounts and fair values of our derivative instruments included in the consolidated balance sheets as of the dates indicated: December 31, 2021 December 31, 2020 Notional Fair Notional Fair Derivatives Not Designated As Hedging Instruments Amount Value Amount Value (In thousands) Derivative Assets: Interest rate contracts $ 87,470 $ 992 $ 59,867 $ 1,028 Foreign exchange contracts 28,463 1,517 73,108 3,202 Interest rate and economic contracts 115,933 2,509 132,975 4,230 Equity warrant assets 18,539 3,555 24,081 4,520 Total $ 134,472 $ 6,064 $ 157,056 $ 8,750 Derivative Liabilities: Interest rate contracts $ 87,470 $ 931 $ 59,867 $ 1,004 Foreign exchange contracts 28,463 — 73,108 146 Total $ 115,933 $ 931 $ 132,975 $ 1,150 |
Schedule of Derivative Liabilities at Fair Value | The following table presents the U.S. dollar notional amounts and fair values of our derivative instruments included in the consolidated balance sheets as of the dates indicated: December 31, 2021 December 31, 2020 Notional Fair Notional Fair Derivatives Not Designated As Hedging Instruments Amount Value Amount Value (In thousands) Derivative Assets: Interest rate contracts $ 87,470 $ 992 $ 59,867 $ 1,028 Foreign exchange contracts 28,463 1,517 73,108 3,202 Interest rate and economic contracts 115,933 2,509 132,975 4,230 Equity warrant assets 18,539 3,555 24,081 4,520 Total $ 134,472 $ 6,064 $ 157,056 $ 8,750 Derivative Liabilities: Interest rate contracts $ 87,470 $ 931 $ 59,867 $ 1,004 Foreign exchange contracts 28,463 — 73,108 146 Total $ 115,933 $ 931 $ 132,975 $ 1,150 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Other Commitments [Table Text Block] | The following table presents a summary of commitments described below as of the dates indicated: December 31, 2021 2020 (In thousands) Loan commitments to extend credit $ 9,006,350 $ 7,601,390 Standby letters of credit 345,769 337,336 Total $ 9,352,119 $ 7,938,726 The following table presents the years in which commitments are expected to be paid for our commitments to contribute capital to SBICs and CRA-related loan pools as of the date indicated: December 31, 2021 (In thousands) Year Ending December 31, 2022 $ 38,950 2023 41,417 2024 5,557 Total $ 85,924 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Carried at Fair Value on Recurring Basis | The following tables present information on the assets and liabilities measured and recorded at fair value on a recurring basis as of the dates indicated: Fair Value Measurements as of December 31, 2021 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available‑for‑sale: Agency residential MBS $ 2,898,210 $ — $ 2,898,210 $ — Municipal securities 2,315,968 — 2,315,968 — Agency commercial MBS 1,688,967 — 1,688,967 — Agency residential CMOs 1,038,134 — 1,038,134 — U.S. Treasury securities 966,898 966,898 — — Corporate debt securities 527,094 — 527,094 — Private label commercial MBS 450,217 — 435,216 15,001 Collateralized loan obligations 385,362 — 385,362 — Private label residential CMOs 264,417 — 264,417 — Asset-backed securities 129,547 — 129,547 — SBA securities 29,644 — 29,644 — Total securities available-for-sale $ 10,694,458 $ 966,898 $ 9,712,559 $ 15,001 Equity investments with readily determinable fair values $ 28,578 $ 28,578 $ — $ — Derivatives (1) : Equity warrants 3,555 — — 3,555 Interest rate and economic contracts 2,509 — 2,509 — Derivative liabilities 931 — 931 — Fair Value Measurements as of December 31, 2020 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available‑for‑sale: Municipal securities $ 1,531,617 $ — $ 1,531,617 $ — Agency commercial MBS 1,281,877 — 1,281,877 — Agency residential CMOs 1,219,880 — 1,219,880 — Agency residential MBS 341,074 — 341,074 — Corporate debt securities 311,889 — 311,889 — Asset-backed securities 166,546 — 166,546 — Collateralized loan obligations 135,876 — 135,876 — Private label residential CMOs 116,946 — 112,299 4,647 Private label commercial MBS 82,957 — 57,232 25,725 SBA securities 41,627 — 41,627 — U.S. Treasury securities 5,302 5,302 — — Total securities available-for-sale $ 5,235,591 $ 5,302 $ 5,199,917 $ 30,372 Equity investments with readily determinable fair values $ 6,147 $ 6,147 $ — $ — Derivatives (1) : Equity warrants 4,520 — — 4,520 Interest rate and economic contracts 4,230 — 4,230 — Derivative liabilities 1,150 — 1,150 — ____________________ (1) For information regarding derivative instruments, see Not e 13. Derivatives . The following table summarizes activity for our Level 3 private label commercial MBS measured at fair value on a recurring basis for the years indicated: Year Ended December 31, Level 3 Private Label Commercial MBS 2021 2020 2019 (In thousands) Balance, beginning of year $ 25,725 $ 16,435 $ 39,945 Total included in earnings (77) 5 (77) Total unrealized gain (loss) in comprehensive income (115) (41) 463 Purchases — 20,100 — Net settlements (10,532) (10,774) (23,896) Balance, end of year $ 15,001 $ 25,725 $ 16,435 Unrealized net gains (losses) for the period included in other comprehensive income for securities held at year-end $ 41 |
Fair Value Inputs, Assets, Quantitative Information | The following table presents information about the quantitative inputs and assumptions used to determine the fair values provided by our third party pricing service for our Level 3 private label commercial MBS available-for-sale measured at fair value on a recurring basis as of the date indicated: December 31, 2021 Private Label Commercial MBS Input or Weighted Range of Average Unobservable Inputs Inputs Input (1) Voluntary annual prepayment speeds 10.0% - 15.0% 12.1% Annual default rates (2) 2.0% 2.0% Loss severity rates (2) 60.0% 60.0% Discount rates 3.0% - 3.4% 3.3% ____________________ (1) Voluntary annual prepayment speeds and discount rates for private label commercial MBS were weighted by the relative fair values of the instruments. (2) Annual default rates and loss severity rates were the same for all of the private label commercial MBS. The following table presents information about the quantitative inputs and assumptions used in the modified Black-Scholes option pricing model to determine the fair value for our Level 3 equity warrants measured at fair value on a recurring basis as of the date indicated: December 31, 2021 Equity Warrants Weighted Range Average Unobservable Inputs of Inputs Input Volatility 21.0% - 139.9% 28.6% Risk-free interest rate 0.1% - 1.3% 0.9% Remaining life assumption (in years) 0.08 - 4.99 3.00 |
Fair Value, Assets Measured on Recurring Basis, Significant Unobservable Inputs (Level 3) Reconciliation | The following table summarizes activity for our Level 3 private label residential CMOs measured at fair value on a recurring basis for the years indicated: Year Ended December 31, Level 3 Private Label Residential CMOs 2021 2020 2019 (In thousands) Balance, beginning of year $ 4,647 $ 6,264 $ 7,288 Total included in earnings 2,287 485 432 Total unrealized loss in comprehensive income (1,094) (592) (265) Sales (2,903) — — Net settlements (2,937) (1,510) (1,191) Balance, end of year $ — $ 4,647 $ 6,264 Unrealized net gains (losses) for the period included in other comprehensive income for securities held at year-end $ — |
Schedule of Stockholders' Equity Note, Warrants or Rights | The following table summarizes activity for our Level 3 equity warrants measured at fair value on a recurring basis for the years indicated: Year Ended December 31, Level 3 Equity Warrants 2021 2020 2019 (In thousands) Balance, beginning of year $ 4,520 $ 3,434 $ 4,793 Total included in earnings 49,341 10,609 8,669 Exercises and settlements (1) (50,092) (9,828) (10,239) Issuances 432 424 324 Transfers to Level 1 (equity investments with readily determinable fair values) (646) (119) (113) Balance, end of year $ 3,555 $ 4,520 $ 3,434 ______________________ |
Assets carried at fair value on a nonrecurring basis | The following tables present assets measured at fair value on a non‑recurring basis as of the dates indicated: Fair Value Measurement as of December 31, 2021 Measured on a Non‑Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases $ 30,882 $ — $ 2,915 $ 27,967 Total non-recurring $ 30,882 $ — $ 2,915 $ 27,967 Fair Value Measurement as of December 31, 2020 Measured on a Non‑Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases $ 102,274 $ — $ 4,160 $ 98,114 Total non-recurring $ 102,274 $ — $ 4,160 $ 98,114 |
Net Losses (Gains) on Nonrecurring Assets | The following table presents losses recognized on assets measured on a nonrecurring basis for the years indicated: Year Ended December 31, Loss on Assets Measured on a Non‑Recurring Basis 2021 2020 2019 (In thousands) Individually evaluated loans and leases (1) $ 5,772 $ 24,607 $ 6,797 OREO 14 267 78 Total net loss $ 5,786 $ 24,874 $ 6,875 _____________________ (1) For 2021 and 2020, losses were based on individually evaluated loans and leases. For 2019, losses were based on impaired loans and leases. |
Fair Value Measurement Inputs and Valuations | The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis as of the date indicated: December 31, 2021 Valuation Unobservable Input or Weighted Asset Fair Value Technique Inputs Range Average (In thousands) Individually evaluated loans and leases $ 15,426 Discounted cash flows Discount rates 0.00% - 9.25% 6.46% Individually evaluated loans and leases 12,541 Third party appraisals No discounts Total non-recurring Level 3 $ 27,967 |
Fair Value, by Balance Sheet Grouping | December 31, 2021 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 112,548 $ 112,548 $ 112,548 $ — $ — Interest‑earning deposits in financial institutions 3,944,686 3,944,686 3,944,686 — — Securities available‑for‑sale 10,694,458 10,694,458 966,898 9,712,559 15,001 Investment in FHLB stock 17,250 17,250 — 17,250 — Loans and leases held for investment, net 22,740,984 23,461,156 — 2,915 23,458,241 Equity investments with readily determinable fair values 28,578 28,578 28,578 — — Equity warrants 3,555 3,555 — — 3,555 Interest rate and economic contracts 2,509 2,509 — 2,509 — Servicing rights 1,228 1,228 — — 1,228 Financial Liabilities: Core deposits 32,734,949 32,734,949 — 32,734,949 — Non-core non-maturity deposits 889,976 889,976 — 889,976 — Time deposits 1,372,832 1,371,527 — 1,371,527 — Borrowings — — — — — Subordinated debt 863,283 917,342 — 917,342 — Derivative liabilities 931 931 — 931 — December 31, 2020 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 150,464 $ 150,464 $ 150,464 $ — $ — Interest‑earning deposits in financial institutions 3,010,197 3,010,197 3,010,197 — — Securities available‑for‑sale 5,235,591 5,235,591 5,302 5,199,917 30,372 Investment in FHLB stock 17,250 17,250 — 17,250 — Loans and leases held for investment, net 18,735,196 19,305,998 — 4,160 19,301,838 Equity investments with readily determinable fair values 6,147 6,147 6,147 — — Equity warrants 4,520 4,520 — — 4,520 Interest rate and economic contracts 4,230 4,230 — 4,230 — Financial Liabilities: Core deposits 22,264,480 22,264,480 — 22,264,480 — Non-core non-maturity deposits 1,149,467 1,149,467 — 1,149,467 — Time deposits 1,526,770 1,527,639 — 1,527,639 — Borrowings 5,000 4,995 — 4,995 — Subordinated debt 465,812 448,036 — 448,036 — Derivative liabilities 1,150 1,150 — 1,150 — |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) | The following table presents the components of income tax expense for the years indicated: Year Ended December 31, 2021 2020 2019 (In thousands) Current Income Tax Expense: Federal $ 131,559 $ 78,161 $ 113,807 State 54,744 27,530 34,575 Total current income tax expense 186,303 105,691 148,382 Deferred Income Tax Expense (Benefit): Federal 15,799 (28,740) 5,062 State 13,273 (1,778) 10,860 Total deferred income tax expense (benefit) 29,072 (30,518) 15,922 Total income tax expense $ 215,375 $ 75,173 $ 164,304 |
Schedule of Effective Income Tax Rate Reconciliation | The following table presents a reconciliation of the recorded income tax expense to the amount of taxes computed by applying the applicable federal statutory income tax rates of 21% for 2021, 2020, and 2019 to earnings before income taxes: Year Ended December 31, 2021 2020 2019 (In thousands) Computed expected income tax (benefit) expense at federal statutory rate $ 172,690 $ (244,104) $ 132,917 State tax (benefit) expense, net of federal tax benefit 55,682 (77,934) 43,575 Goodwill impairment — 407,232 — Tax‑exempt interest benefit (12,312) (5,202) (8,092) Increase in cash surrender value of life insurance (1,367) (1,309) (1,298) Low income housing tax credits, net of amortization (6,430) (4,605) (3,217) Nondeductible employee compensation 4,660 2,830 4,430 Nondeductible FDIC premiums 2,535 2,383 1,302 Change in unrecognized tax benefits (860) (187) 941 Valuation allowance change (16,201) (5,288) (32,036) Expired capital loss carryforward — — 3,136 State tax refunds — (2,554) — State rate and apportionment changes 16,330 4,217 19,138 Other, net 648 (306) 3,508 Recorded income tax expense $ 215,375 $ 75,173 $ 164,304 |
Schedule of Deferred Tax Assets and Liabilities | The following table presents the tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities as of the dates indicated: December 31, 2021 2020 (In thousands) Deferred Tax Assets: Book allowance for loan losses in excess of tax specific charge-offs $ 76,384 $ 122,753 Interest on nonaccrual loans 3,150 3,335 Deferred compensation 5,209 5,298 Foreclosed assets valuation allowance 289 334 State tax benefit 6,768 3,108 Net operating losses 19,646 34,658 Accrued liabilities 29,057 20,477 Unrealized loss from FDIC‑assisted acquisitions 886 1,310 Tax mark-to-market on loans 6,543 2,155 Equity investments — 2,115 Goodwill — 451 Tax credits — 2,232 Lease liability 39,095 38,521 Gross deferred tax assets 187,027 236,747 Valuation allowance (24,882) (41,083) Deferred tax assets, net of valuation allowance 162,145 195,664 Deferred Tax Liabilities: Core deposit and customer relationship intangibles 1,746 5,877 Deferred loan fees and costs 2,337 3,763 Unrealized gain on securities available‑for‑sale 24,972 66,098 Premises and equipment, principally due to differences in depreciation 1,466 3,120 FHLB stock 613 637 Subordinated debt 17,110 18,639 Equity investments 5,475 — Goodwill 6,166 — Operating leases 86,000 95,026 ROU assets 34,129 33,345 Other 1,712 794 Gross deferred tax liabilities 181,726 227,299 Total net deferred tax liabilities $ (19,581) $ (31,635) |
Schedule of Unrecognized Tax Benefits Roll Forward | The following table summarizes the activity related to the Company's unrecognized tax benefits for the years indicated: Year Ended December 31, Unrecognized Tax Benefits 2021 2020 (In thousands) Balance, beginning of year $ 3,376 $ 10,748 Increase based on tax positions related to prior years — 879 Reductions for tax positions related to prior years (698) (7,813) Reductions for tax positions as a result of a lapse of the applicable statute of limitations (123) (438) Balance, end of year $ 2,555 $ 3,376 Unrecognized tax benefits that would affect the effective tax rate if recognized $ 2,555 $ 3,376 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Earnings Per Share [Abstract] | |
Net Income Per Share | The following table presents the computation of basic and diluted net earnings (loss) per share for the years indicated: Year Ended December 31, 2021 2020 2019 (Dollars in thousands, except per share data) Basic Earnings (Loss) Per Share: Net earnings (loss) $ 606,959 $ (1,237,574) $ 468,636 Less: earnings allocated to unvested restricted stock (1) (10,248) (1,782) (5,182) Net earnings (loss) allocated to common shares $ 596,711 $ (1,239,356) $ 463,454 Weighted-average basic shares and unvested restricted stock outstanding 119,349 118,463 120,468 Less: weighted-average unvested restricted stock outstanding (2,255) (1,610) (1,502) Weighted-average basic shares outstanding 117,094 116,853 118,966 Basic earnings (loss) per share $ 5.10 $ (10.61) $ 3.90 Diluted Earnings (Loss) Per Share: Net earnings (loss) allocated to common shares $ 596,711 $ (1,239,356) $ 463,454 Weighted-average diluted shares outstanding 117,094 116,853 118,966 Diluted earnings (loss) per share $ 5.10 $ (10.61) $ 3.90 ________________________ (1) Represents cash dividends paid to holders of unvested restricted stock, net of forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any. |
Revenue From Contracts With C_2
Revenue From Contracts With Customers Revenue From Contracts With Customers (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Revenue From Contracts With Customers [Abstract] | |
Revenue From Contracts With Customers [Table Text Block] | As illustrated here, substantially all of our revenue is specifically excluded from the scope of ASC Topic 606. Year Ended December 31, 2021 2020 2019 Total Revenue from Total Revenue from Total Revenue from Recorded Contracts with Recorded Contracts with Recorded Contracts with Revenue Customers Revenue Customers Revenue Customers (In thousands) Total interest income $ 1,158,729 $ — $ 1,103,491 $ — $ 1,219,893 $ — Noninterest income: Other commissions and fees 42,287 11,018 40,347 13,412 43,623 19,216 Leased equipment income 45,746 — 43,628 — 38,727 — Service charges on deposit accounts 13,269 13,269 10,351 10,351 14,637 14,637 Gain on sale of loans 1,733 — 2,139 — 1,114 — Gain on sale of securities 1,615 — 13,171 — 25,445 — Dividends and gains (losses) on equity investments 23,115 — 14,984 — (567) — Warrant income 49,341 — 10,609 — 8,669 — Other income 16,821 556 10,831 2,000 10,914 1,617 Total noninterest income 193,927 24,843 146,060 25,763 142,562 35,470 Total revenue $ 1,352,656 $ 24,843 $ 1,249,551 $ 25,763 $ 1,362,455 $ 35,470 |
Revenue Recognition of Contracts With Customers [Table Text Block] | The following table presents revenue from contracts with customers based on the timing of revenue recognition for the period indicated: Year Ended December 31, 2021 2020 2019 (In thousands) Products and services transferred at a point in time $ 11,713 $ 14,190 $ 19,253 Products and services transferred over time 13,130 11,573 16,217 Total revenue from contracts with customers $ 24,843 $ 25,763 $ 35,470 |
Contract with Customer, Asset and Liability [Table Text Block] | The following table provides information about receivables, contract assets and contract liabilities from contracts with customers as of the dates indicated: December 31, 2021 2020 (In thousands) Receivables, which are included in "Other assets" $ 1,066 $ 1,046 Contract assets, which are included in "Other assets" $ — $ — Contract liabilities, which are included in "Accrued interest payable and other liabilities" $ 229 $ 359 |
Stock-Based Compensation Stock-
Stock-Based Compensation Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | The following table presents a summary of restricted stock transactions during the year ended December 31, 2021: TRSAs PRSUs Weighted Weighted Average Average Number Grant Date Number Grant Date of Fair Value of Fair Value Year Ended December 31, 2021 Shares (Per Share) Units (Per Unit) Unvested restricted stock, beginning of year 1,608,126 $32.83 315,008 $42.77 Granted 1,433,698 $37.65 324,351 $32.19 Vested 622,572 $37.96 22,320 $54.07 Forfeited 107,172 $37.80 104,176 $49.00 Unvested restricted stock, end of year 2,312,080 $34.21 512,863 $34.32 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Stockholders' Equity Attributable to Parent [Abstract] | |
Class of Treasury Stock | The following table shows the dollar amount of shares surrendered, shares surrendered, and weighted average price per share for restricted stock surrendered as treasury shares for the years indicated: Year Ended December 31, Restricted Stock Surrendered as Treasury Shares 2021 2020 2019 Dollar amount of shares surrendered ( in thousands ) $ 8,505 $ 5,369 $ 8,449 Number of shares surrendered 199,018 213,578 218,531 Weighted average price per share $ 42.73 $ 25.14 $ 38.66 |
Repurchase Agreements, Collateral, Policy | The following table shows the repurchase amounts, shares repurchased, and weighted average price per share for stock repurchases under the various Stock Repurchase Programs for the years indicated: Year Ended December 31, Stock Repurchases Under Stock Repurchase Programs 2021 2020 2019 Dollar amount of repurchases ( in thousands ) $ — $ 70,000 $ 154,516 Number of shares repurchased — 1,953,711 3,987,945 Weighted average price per share $ — $ 35.83 $ 38.75 |
Dividend Availability and Reg_2
Dividend Availability and Regulatory Matters Dividend Availability and Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Dividend Availability and Regulatory Matters [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | The following tables present actual capital amounts and ratios for the Company and the Bank as of the dates indicated: Well Capitalized Capital Minimum Conservation Actual Requirement Buffer Balance Ratio Balance Ratio Requirement (Dollars in thousands) December 31, 2021 Tier I leverage capital (to average assets): PacWest Bancorp Consolidated $ 2,657,575 6.84% $ 1,942,017 5.00% N/A Pacific Western Bank $ 2,717,374 7.00% $ 1,940,510 5.00% N/A CET1 capital (to risk-weighted assets): PacWest Bancorp Consolidated $ 2,526,575 8.86% $ 1,853,073 6.50% 7.00% Pacific Western Bank $ 2,717,374 9.56% $ 1,847,853 6.50% 7.00% Tier I capital (to risk-weighted assets) PacWest Bancorp Consolidated $ 2,657,575 9.32% $ 2,280,705 8.00% 8.50% Pacific Western Bank $ 2,717,374 9.56% $ 2,274,281 8.00% 8.50% Total capital (to risk-weighted assets): PacWest Bancorp Consolidated $ 3,619,190 12.69% $ 2,850,881 10.00% 10.50% Pacific Western Bank $ 3,355,403 11.80% $ 2,842,851 10.00% 10.50% Well Capitalized Capital Minimum Conservation Actual Requirement Buffer Balance Ratio Balance Ratio Requirement (Dollars in thousands) December 31, 2020 Tier I leverage capital (to average assets): PacWest Bancorp Consolidated $ 2,403,721 8.55% $ 1,404,880 5.00% N/A Pacific Western Bank $ 2,673,960 9.53% $ 1,403,208 5.00% N/A CET1 capital (to risk-weighted assets): PacWest Bancorp Consolidated $ 2,403,721 10.53% $ 1,484,450 6.50% 7.00% Pacific Western Bank $ 2,673,960 11.73% $ 1,481,599 6.50% 7.00% Tier I capital (to risk-weighted assets) PacWest Bancorp Consolidated $ 2,403,721 10.53% $ 1,827,015 8.00% 8.50% Pacific Western Bank $ 2,673,960 11.73% $ 1,823,506 8.00% 8.50% Total capital (to risk-weighted assets): PacWest Bancorp Consolidated $ 3,141,992 13.76% $ 2,283,769 10.00% 10.50% Pacific Western Bank $ 2,959,853 12.99% $ 2,279,383 10.00% 10.50% |
Condensed Financial Informati_2
Condensed Financial Information Of Parent Company Condensed Financial Information Of Parent Company (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Condensed Financial Information Of Parent Company [Abstract] | |
Condensed Balance Sheet | Parent Company Only December 31, Condensed Balance Sheets 2021 2020 (In thousands) Assets: Cash and cash equivalents $ 176,923 $ 127,849 Investments in subsidiaries 3,845,653 3,530,823 Other assets 122,324 75,835 Total assets $ 4,144,900 $ 3,734,507 Liabilities: Subordinated debt $ 135,055 $ 135,055 Other liabilities 10,215 4,501 Total liabilities 145,270 139,556 Stockholders’ equity 3,999,630 3,594,951 Total liabilities and stockholders’ equity $ 4,144,900 $ 3,734,507 |
Condensed Income Statement | Parent Company Only Year Ended December 31, Condensed Statements of Earnings (Loss) 2021 2020 2019 (In thousands) Miscellaneous income $ 52,955 $ 14,276 $ 9,739 Dividends from Bank subsidiary 182,000 258,000 336,000 Total income 234,955 272,276 345,739 Interest expense 3,527 4,394 6,637 Operating expenses 18,913 11,184 9,833 Total expenses 22,440 15,578 16,470 Earnings before income taxes and equity in undistributed earnings of subsidiaries 212,515 256,698 329,269 Income tax (expense) benefit (6,188) (3,268) 2,202 Earnings before equity in undistributed earnings of subsidiaries 206,327 253,430 331,471 Equity in (distributions in excess of) undistributed earnings or loss of subsidiaries 400,632 (1,491,004) 137,165 Net earnings (loss) $ 606,959 $ (1,237,574) $ 468,636 |
Condensed Cash Flow Statement | Parent Company Only Year Ended December 31, Condensed Statements of Cash Flows 2021 2020 2019 (In thousands) Cash flows from operating activities: Net earnings (loss) $ 606,959 $ (1,237,574) $ 468,636 Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: Change in other assets (67,242) (29,568) (35,510) Change in liabilities 5,714 780 (1,661) Earned stock compensation 32,223 24,363 26,815 (Equity in) distributions in excess of undistributed earnings or loss of subsidiaries (400,632) 1,491,004 (137,165) Net cash provided by operating activities 177,022 249,005 321,115 Cash flows from investing activities: Net cash used in investing activities — — — Cash flows from financing activities: Common stock repurchased and restricted stock surrendered (8,505) (75,369) (162,965) Cash dividends paid, net (119,443) (159,748) (289,048) Net cash used in financing activities (127,948) (235,117) (452,013) Net increase (decrease) in cash and cash equivalents 49,074 13,888 (130,898) Cash and cash equivalents, beginning of year 127,849 113,961 244,859 Cash and cash equivalents, end of year $ 176,923 $ 127,849 $ 113,961 |
Nature of Operations and Summ_3
Nature of Operations and Summary of Significant Accounting Policies (Details Textual) | 12 Months Ended |
Dec. 31, 2021USD ($)bank_branchreportable_segment | |
Business Acquisition [Line Items] | |
Threshold for loans that are considered individually significant for allowance analysis purposes | $ | $ 250,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Performance Period | 3 years |
Derivative Instruments and Hedges, Liabilities | $ | $ 0 |
Number of Reportable Segments | reportable_segment | 1 |
Minimum | |
Business Acquisition [Line Items] | |
Share-Based Compensation Arrangement By Share-based Payment Award, Performance Target, Maxium | 150.00% |
Maximum | |
Business Acquisition [Line Items] | |
Share-Based Compensation Arrangement By Share-based Payment Award, Performance Target, Maxium | 200.00% |
Core Deposits [Member] | Minimum | |
Business Acquisition [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 7 years |
Core Deposits [Member] | Maximum | |
Business Acquisition [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 10 years |
Customer Relationships [Member] | Minimum | |
Business Acquisition [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 4 years |
Customer Relationships [Member] | Maximum | |
Business Acquisition [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 7 years |
Furniture and Fixtures [Member] | Minimum | |
Business Acquisition [Line Items] | |
Property, Plant and Equipment, Useful Life | 3 years |
Furniture and Fixtures [Member] | Maximum | |
Business Acquisition [Line Items] | |
Property, Plant and Equipment, Useful Life | 7 years |
Building [Member] | |
Business Acquisition [Line Items] | |
Property, Plant and Equipment, Useful Life | 30 years |
Limited Partnership | Minimum | |
Business Acquisition [Line Items] | |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 5.00% |
Equity Securities | Minimum | |
Business Acquisition [Line Items] | |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 20.00% |
Equity Securities | Maximum | |
Business Acquisition [Line Items] | |
Equity Method Investment, Ownership Percentage | 50.00% |
CALIFORNIA | |
Business Acquisition [Line Items] | |
Retail Branch Locations | 69 |
NORTH CAROLINA | |
Business Acquisition [Line Items] | |
Retail Branch Locations | 1 |
COLORADO | |
Business Acquisition [Line Items] | |
Retail Branch Locations | 1 |
Acquisitions (Details)
Acquisitions (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Oct. 08, 2021 | Feb. 01, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Business Acquisition [Line Items] | |||||
Loans and leases, net | $ 22,740,984 | $ 18,735,196 | |||
Goodwill | 1,405,736 | 1,078,670 | $ 2,548,670 | ||
Core deposit and customer relationship intangibles, net | 44,957 | 23,641 | |||
Assets | 40,443,344 | 29,498,442 | |||
Noninterest-bearing deposits | 14,543,133 | 9,193,827 | |||
Interest-bearing deposits | 20,454,624 | 15,746,890 | |||
Deposits | 34,997,757 | 24,940,717 | |||
Borrowings | 0 | 5,000 | |||
Accrued interest payable and other liabilities | 582,674 | 491,962 | |||
Liabilities | $ 36,443,714 | $ 25,903,491 | |||
Civic Acquisition | |||||
Business Acquisition [Line Items] | |||||
Cash and Due from Banks | $ 37,331 | ||||
Loans and leases, net | 67,294 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 1,197 | ||||
Goodwill | 125,448 | ||||
Core deposit and customer relationship intangibles, net | 750 | ||||
Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets Other | 75,977 | ||||
Assets | 307,997 | ||||
Noninterest-bearing deposits | 37,339 | ||||
Interest-bearing deposits | 0 | ||||
Deposits | 37,339 | ||||
Borrowings | 50,210 | ||||
Accrued interest payable and other liabilities | 60,028 | ||||
Liabilities | 147,577 | ||||
Cash paid | 160,420 | ||||
Homeowners Association Services Divison | |||||
Business Acquisition [Line Items] | |||||
Cash and Due from Banks | 4,118,009 | ||||
Loans and leases, net | 6,486 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 331 | ||||
Goodwill | $ 201,618 | ||||
Core deposit and customer relationship intangibles, net | 33,300 | ||||
Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets Other | 3,149 | ||||
Assets | 4,362,893 | ||||
Noninterest-bearing deposits | 1,585,810 | ||||
Interest-bearing deposits | 2,536,965 | ||||
Deposits | 4,122,775 | ||||
Borrowings | 0 | ||||
Accrued interest payable and other liabilities | 2,320 | ||||
Liabilities | 4,125,095 | ||||
Cash paid | $ 237,800 | $ 237,798 |
Acquisitions (Details 1)
Acquisitions (Details 1) - USD ($) | Dec. 31, 2021 | Oct. 08, 2021 | Feb. 01, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Business Acquisition [Line Items] | |||||
Assets | $ 40,443,344,000 | $ 29,498,442,000 | |||
Liabilities | 36,443,714,000 | 25,903,491,000 | |||
Goodwill | $ 1,405,736,000 | $ 1,078,670,000 | $ 2,548,670,000 | ||
Civic Acquisition | |||||
Business Acquisition [Line Items] | |||||
Assets | $ 307,997,000 | ||||
Liabilities | 147,577,000 | ||||
Cash paid | 160,420,000 | ||||
Goodwill | 125,448,000 | ||||
Homeowners Association Services Divison | |||||
Business Acquisition [Line Items] | |||||
Assets | $ 4,362,893,000 | ||||
Liabilities | 4,125,095,000 | ||||
Cash paid | 237,800,000 | $ 237,798,000 | |||
Goodwill | 201,618,000 | ||||
Acquisition, Deposit Premium Paid to Acquired Institution | $ 0.059 |
Restricted Cash Balances (Detai
Restricted Cash Balances (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Restricted Cash Balances [Abstract] | ||
Restricted Cash and Cash Equivalents | $ 0 | $ 41.3 |
Pledged Cash for Derivative Contracts | $ 2 | $ 2.9 |
Investment Securities (Details)
Investment Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, at fair value | $ 10,694,458 | $ 5,235,591 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 163,035 | 241,999 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (72,095) | (3,378) |
Available-for-sale Securities, Amortized Cost Basis | 10,603,518 | 4,996,970 |
Residential Mortgage Backed Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, at fair value | 2,898,210 | 341,074 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 8,866 | 12,483 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (32,649) | (897) |
Available-for-sale Securities, Amortized Cost Basis | 2,921,993 | 329,488 |
Municipal Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, at fair value | 2,315,968 | 1,531,617 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 75,192 | 93,631 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (7,973) | (18) |
Available-for-sale Securities, Amortized Cost Basis | 2,248,749 | 1,438,004 |
Government agency and government-sponsored enterprise pass through securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, at fair value | 1,688,967 | 1,281,877 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 37,664 | 74,238 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (9,213) | (37) |
Available-for-sale Securities, Amortized Cost Basis | 1,660,516 | 1,207,676 |
Government agency and government-sponsored enterprise collateralized mortgage obligations [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, at fair value | 1,038,134 | 1,219,880 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 22,288 | 47,994 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (5,870) | (280) |
Available-for-sale Securities, Amortized Cost Basis | 1,021,716 | 1,172,166 |
US Treasury Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, at fair value | 966,898 | 5,302 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1,641 | 313 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (8,298) | 0 |
Available-for-sale Securities, Amortized Cost Basis | 973,555 | 4,989 |
Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, at fair value | 527,094 | 311,889 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 13,774 | 3,490 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (757) | (404) |
Available-for-sale Securities, Amortized Cost Basis | 514,077 | 308,803 |
Mortgage-backed Securities, Issued by Private Enterprises | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, at fair value | 450,217 | 82,957 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 147 | 1,089 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (3,244) | (10) |
Available-for-sale Securities, Amortized Cost Basis | 453,314 | 81,878 |
Collateralized Loan Obligations [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, at fair value | 385,362 | 135,876 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 396 | 23 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (444) | (924) |
Available-for-sale Securities, Amortized Cost Basis | 385,410 | 136,777 |
Private Label Collateralized Mortgage Obligations [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, at fair value | 264,417 | 116,946 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1,857 | 6,076 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (3,291) | (21) |
Available-for-sale Securities, Amortized Cost Basis | 265,851 | 110,891 |
Asset-backed Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, at fair value | 129,547 | 166,546 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 484 | 445 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (324) | (760) |
Available-for-sale Securities, Amortized Cost Basis | 129,387 | 166,861 |
SBA asset-backed securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available-for-sale, at fair value | 29,644 | 41,627 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 726 | 2,217 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (32) | (27) |
Available-for-sale Securities, Amortized Cost Basis | $ 28,950 | $ 39,437 |
Investment Securities (Details
Investment Securities (Details 1) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Proceeds from sales of securities available-for-sale | $ 367,348 | $ 173,425 | $ 1,584,860 |
Available-for-sale Securities, Gross Realized Gains | 1,680 | 13,222 | 29,584 |
Available-for-sale Securities, Gross Realized Losses | 65 | 51 | 4,139 |
Realized Investment Gains | 1,615 | 13,171 | 25,445 |
Available-for-sale Securities | |||
Proceeds from sales of securities available-for-sale | $ 365,733 | $ 160,254 | $ 1,559,415 |
Investment Securities (Detail_2
Investment Securities (Details 2) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Securities, Available-for-sale, Unrealized Loss Position | $ 5,424,991 | $ 547,636 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 5,102,495 | 457,559 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (63,559) | (2,474) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | (322,496) | (90,077) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (8,535) | (904) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (72,095) | (3,378) |
Government agency and government-sponsored enterprise pass through securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (9,213) | (37) |
US States and Political Subdivisions Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position | 534,806 | 5,919 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 505,080 | 5,919 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (6,965) | (18) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | (29,726) | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,008) | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (7,973) | (18) |
Commercial Mortgage Backed Securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position | 547,683 | 58,408 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 440,938 | 58,408 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (5,066) | (37) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | (106,745) | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (4,147) | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (9,213) | (37) |
Government agency and government-sponsored enterprise collateralized mortgage obligations [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position | 283,785 | 97,863 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 216,445 | 97,863 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (3,757) | (280) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | (67,340) | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (2,113) | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (5,870) | (280) |
US Treasury Securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position | 628,767 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 628,767 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (8,298) | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (8,298) | 0 |
Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position | 32,761 | 87,596 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 32,761 | 87,596 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (757) | (404) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (757) | (404) |
Mortgage-backed Securities, Issued by Private Enterprises | ||
Debt Securities, Available-for-sale, Unrealized Loss Position | 397,619 | 3,058 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 397,619 | 3,058 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (3,244) | (10) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (3,244) | (10) |
Collateralized Loan Obligations [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position | 181,349 | 125,414 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 137,619 | 96,442 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (374) | (729) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | (43,730) | (28,972) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (70) | (195) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (444) | (924) |
Private Label Collateralized Mortgage Obligations [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position | 201,988 | 862 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 201,988 | 788 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (3,291) | (19) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | (74) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | (2) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (3,291) | (21) |
Asset-backed Securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position | 54,504 | 75,667 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 38,742 | 14,636 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (137) | (53) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | (15,762) | (61,031) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (187) | (707) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (324) | (760) |
SBA asset-backed securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position | 1,864 | 2,127 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 2,127 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (27) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | (1,864) | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (31) | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (32) | (27) |
Residential Mortgage Backed Securities [Member] | ||
Debt Securities, Available-for-sale, Unrealized Loss Position | 2,559,865 | 90,722 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 2,502,536 | 90,722 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (31,670) | (897) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | (57,329) | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (979) | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ (32,649) | $ (897) |
Investment Securities (Detail_3
Investment Securities (Details 3) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Investment Securities, Available-for-Sale, Amortized Cost | ||
Due in one year or less | $ 54,301 | |
Due after one year through five years | 635,456 | |
Due after five years through ten years | 3,526,824 | |
Due after ten years | 6,386,937 | |
Available-for-sale Securities, Amortized Cost Basis | 10,603,518 | $ 4,996,970 |
Investment Securities, Available-for-Sale, Estimated Fair Value | ||
Due in one year or less | 54,685 | |
Due after one year through five years | 662,377 | |
Due after five years through ten years | 3,544,687 | |
Due after ten years | 6,432,709 | |
Debt Securities, Available-for-sale | $ 10,694,458 | $ 5,235,591 |
Investment Securities (Detail_4
Investment Securities (Details 4) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |||
Interest Income, Securities, Operating, Taxable | $ 118,561 | $ 80,426 | $ 85,968 |
Interest Income, Securities, Operating, Tax Exempt | 33,916 | 24,771 | 27,955 |
Investment Income, Dividend | 991 | 1,573 | 1,646 |
Investment Income, Interest and Dividend | $ 153,468 | $ 106,770 | $ 115,569 |
Investment Securities (Detail_5
Investment Securities (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Investments, Debt and Equity Securities [Abstract] | ||
Available For Sale Securities Pledged As Collateral Amortized Cost | $ 532,400 | |
Federal Home Loan Bank stock, at cost | $ 17,250 | $ 17,250 |
Loans and Leases (Details)
Loans and Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Loans and Leases Receivable, Gross | $ 23,026,308 | $ 19,153,357 | ||
Loans and Leases Receivable, Deferred Income | (84,760) | (69,980) | ||
Loans held for investment, net | 22,941,548 | 19,083,377 | ||
Loans and Leases Receivable, Allowance | (200,564) | (348,181) | $ (142,402) | $ (138,785) |
Total loans and leases held for investment, net | 22,740,984 | 18,735,196 | ||
Loans and Finance Receivables | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Interest Receivable | 80,300 | 79,700 | ||
Mortgages [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Loans and Leases Receivable, Gross | 11,189,278 | 7,905,193 | ||
Loans held for investment, net | 11,178,720 | 7,899,936 | ||
Loans and Leases Receivable, Allowance | (98,053) | (49,883) | (44,575) | |
Real Estate Construction [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Loans and Leases Receivable, Gross | 3,491,340 | 3,393,145 | ||
Loans held for investment, net | 3,437,127 | 3,360,281 | ||
Loans and Leases Receivable, Allowance | (45,079) | (21,952) | (30,544) | |
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Loans and Leases Receivable, Gross | 7,888,068 | 7,534,801 | ||
Loans held for investment, net | 7,868,051 | 7,502,905 | ||
Loans and Leases Receivable, Allowance | (48,718) | (68,388) | (61,528) | |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||
Loans and Leases Receivable, Gross | 457,622 | 320,218 | ||
Loans held for investment, net | 457,650 | $ 320,255 | ||
Loans and Leases Receivable, Allowance | $ (8,714) | $ (2,179) | $ (2,138) |
Loans and Leases (Details 1)
Loans and Leases (Details 1) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable Recorded Investment Total Past Due | $ 73,508 | $ 48,755 |
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 12,232 | |
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 36,523 | |
Current | 22,868,040 | 19,034,622 |
Loans held for investment, net | 22,941,548 | 19,083,377 |
30 To 89 Days Past Due | ||
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 55,042 | |
90 Or More Days Past Due | ||
Delinquent loans in loan portfolio | ||
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 18,466 | |
Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable Recorded Investment Total Past Due | 57,714 | 36,868 |
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 7,350 | |
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 29,518 | |
Current | 11,121,006 | 7,863,068 |
Loans held for investment, net | 11,178,720 | 7,899,936 |
Mortgages [Member] | 30 To 89 Days Past Due | ||
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 45,812 | |
Mortgages [Member] | 90 Or More Days Past Due | ||
Delinquent loans in loan portfolio | ||
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 11,902 | |
Real Estate Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable Recorded Investment Total Past Due | 9,494 | 759 |
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 759 | |
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | |
Current | 3,427,633 | 3,359,522 |
Loans held for investment, net | 3,437,127 | 3,360,281 |
Real Estate Construction [Member] | 30 To 89 Days Past Due | ||
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 7,271 | |
Real Estate Construction [Member] | 90 Or More Days Past Due | ||
Delinquent loans in loan portfolio | ||
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 2,223 | |
Commercial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable Recorded Investment Total Past Due | 5,020 | 9,757 |
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 2,863 | |
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 6,894 | |
Current | 7,863,031 | 7,493,148 |
Loans held for investment, net | 7,868,051 | 7,502,905 |
Commercial Portfolio Segment [Member] | 30 To 89 Days Past Due | ||
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 955 | |
Commercial Portfolio Segment [Member] | 90 Or More Days Past Due | ||
Delinquent loans in loan portfolio | ||
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 4,065 | |
Consumer Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable Recorded Investment Total Past Due | 1,280 | 1,371 |
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 1,260 | |
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 111 | |
Current | 456,370 | 318,884 |
Loans held for investment, net | 457,650 | 320,255 |
Consumer Portfolio Segment [Member] | 30 To 89 Days Past Due | ||
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 1,004 | |
Consumer Portfolio Segment [Member] | 90 Or More Days Past Due | ||
Delinquent loans in loan portfolio | ||
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 276 | |
Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable Recorded Investment Total Past Due | 464 | 2,128 |
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 0 | |
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 2,128 | |
Current | 4,075,013 | 3,427,155 |
Loans held for investment, net | 4,075,477 | 3,429,283 |
Asset Based [Member] | Commercial Portfolio Segment [Member] | 30 To 89 Days Past Due | ||
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 0 | |
Asset Based [Member] | Commercial Portfolio Segment [Member] | 90 Or More Days Past Due | ||
Delinquent loans in loan portfolio | ||
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 464 | |
Venture Capital Loans [Member] | Commercial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable Recorded Investment Total Past Due | 0 | 540 |
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 540 | |
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | |
Current | 2,320,593 | 1,697,968 |
Loans held for investment, net | 2,320,593 | 1,698,508 |
Venture Capital Loans [Member] | Commercial Portfolio Segment [Member] | 30 To 89 Days Past Due | ||
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 0 | |
Venture Capital Loans [Member] | Commercial Portfolio Segment [Member] | 90 Or More Days Past Due | ||
Delinquent loans in loan portfolio | ||
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | |
Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable Recorded Investment Total Past Due | 4,556 | 7,089 |
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 2,323 | |
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 4,766 | |
Current | 1,467,425 | 2,368,025 |
Loans held for investment, net | 1,471,981 | 2,375,114 |
Other Commercial [Member] | Commercial Portfolio Segment [Member] | 30 To 89 Days Past Due | ||
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 955 | |
Other Commercial [Member] | Commercial Portfolio Segment [Member] | 90 Or More Days Past Due | ||
Delinquent loans in loan portfolio | ||
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 3,601 | |
Commercial Real Estate Construction Loan Receivable [Member] | Real Estate Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable Recorded Investment Total Past Due | 0 | 0 |
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 0 | |
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | |
Current | 832,591 | 1,117,121 |
Loans held for investment, net | 832,591 | 1,117,121 |
Commercial Real Estate Construction Loan Receivable [Member] | Real Estate Construction [Member] | 30 To 89 Days Past Due | ||
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 0 | |
Commercial Real Estate Construction Loan Receivable [Member] | Real Estate Construction [Member] | 90 Or More Days Past Due | ||
Delinquent loans in loan portfolio | ||
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | |
Residential Real Estate Construction Financing Receivable [Member] | Real Estate Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable Recorded Investment Total Past Due | 9,494 | 759 |
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 759 | |
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | |
Current | 2,595,042 | 2,242,401 |
Loans held for investment, net | 2,604,536 | 2,243,160 |
Residential Real Estate Construction Financing Receivable [Member] | Real Estate Construction [Member] | 30 To 89 Days Past Due | ||
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 7,271 | |
Residential Real Estate Construction Financing Receivable [Member] | Real Estate Construction [Member] | 90 Or More Days Past Due | ||
Delinquent loans in loan portfolio | ||
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 2,223 | |
Commercial Real Estate [Member] | Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable Recorded Investment Total Past Due | 7,543 | 35,895 |
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 6,750 | |
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 29,145 | |
Current | 3,754,756 | 4,060,776 |
Loans held for investment, net | 3,762,299 | 4,096,671 |
Commercial Real Estate [Member] | Mortgages [Member] | 30 To 89 Days Past Due | ||
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 5,307 | |
Commercial Real Estate [Member] | Mortgages [Member] | 90 Or More Days Past Due | ||
Delinquent loans in loan portfolio | ||
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 2,236 | |
Residential Real Estate [Member] | Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable Recorded Investment Total Past Due | 50,171 | 973 |
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 600 | |
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 373 | |
Current | 7,366,250 | 3,802,292 |
Loans held for investment, net | 7,416,421 | $ 3,803,265 |
Residential Real Estate [Member] | Mortgages [Member] | 30 To 89 Days Past Due | ||
Delinquent loans in loan portfolio | ||
30-89 Days Past Due | 40,505 | |
Residential Real Estate [Member] | Mortgages [Member] | 90 Or More Days Past Due | ||
Delinquent loans in loan portfolio | ||
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | $ 9,666 |
Loans and Leases (Details 2)
Loans and Leases (Details 2) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Nonaccrual | $ 61,174 | $ 91,163 |
Loans held for investment, net | 22,941,548 | 19,083,377 |
Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Nonaccrual | 39,832 | 45,557 |
Loans held for investment, net | 11,178,720 | 7,899,936 |
Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Nonaccrual | 4,715 | 315 |
Loans held for investment, net | 3,437,127 | 3,360,281 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Nonaccrual | 16,213 | 44,902 |
Loans held for investment, net | 7,868,051 | 7,502,905 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Nonaccrual | 414 | 389 |
Loans held for investment, net | 457,650 | 320,255 |
Performing Financing Receivable [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans held for investment, net | 22,880,374 | 18,992,214 |
Performing Financing Receivable [Member] | Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans held for investment, net | 11,138,888 | 7,854,379 |
Performing Financing Receivable [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans held for investment, net | 3,432,412 | 3,359,966 |
Performing Financing Receivable [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans held for investment, net | 7,851,838 | 7,458,003 |
Performing Financing Receivable [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans held for investment, net | 457,236 | 319,866 |
Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Nonaccrual | 1,464 | 2,679 |
Loans held for investment, net | 4,075,477 | 3,429,283 |
Asset Based [Member] | Performing Financing Receivable [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans held for investment, net | 4,074,013 | 3,426,604 |
Venture Capital Loans [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Nonaccrual | 2,799 | 1,980 |
Loans held for investment, net | 2,320,593 | 1,698,508 |
Venture Capital Loans [Member] | Performing Financing Receivable [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans held for investment, net | 2,317,794 | 1,696,528 |
Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Nonaccrual | 11,950 | 40,243 |
Loans held for investment, net | 1,471,981 | 2,375,114 |
Other Commercial [Member] | Performing Financing Receivable [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans held for investment, net | 1,460,031 | 2,334,871 |
Commercial Real Estate Construction Loan Receivable [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Nonaccrual | 0 | 315 |
Loans held for investment, net | 832,591 | 1,117,121 |
Commercial Real Estate Construction Loan Receivable [Member] | Performing Financing Receivable [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans held for investment, net | 832,591 | 1,116,806 |
Residential Real Estate Construction Financing Receivable [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Nonaccrual | 4,715 | 0 |
Loans held for investment, net | 2,604,536 | 2,243,160 |
Residential Real Estate Construction Financing Receivable [Member] | Performing Financing Receivable [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans held for investment, net | 2,599,821 | 2,243,160 |
Commercial Real Estate [Member] | Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Nonaccrual | 27,540 | 43,731 |
Loans held for investment, net | 3,762,299 | 4,096,671 |
Commercial Real Estate [Member] | Performing Financing Receivable [Member] | Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans held for investment, net | 3,734,759 | 4,052,940 |
Residential Real Estate [Member] | Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Nonaccrual | 12,292 | 1,826 |
Loans held for investment, net | 7,416,421 | 3,803,265 |
Residential Real Estate [Member] | Performing Financing Receivable [Member] | Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans held for investment, net | $ 7,404,129 | $ 3,801,439 |
Loans and Leases (Details 3)
Loans and Leases (Details 3) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | $ 22,941,548 | $ 19,083,377 |
Financing Receivable, Nonaccrual | 61,174 | 91,163 |
Mortgages [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 11,178,720 | 7,899,936 |
Financing Receivable, Nonaccrual | 39,832 | 45,557 |
Real Estate Construction [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 3,437,127 | 3,360,281 |
Financing Receivable, Nonaccrual | 4,715 | 315 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 7,868,051 | 7,502,905 |
Financing Receivable, Nonaccrual | 16,213 | 44,902 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 457,650 | 320,255 |
Financing Receivable, Nonaccrual | 414 | 389 |
Classified [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 116,104 | 265,262 |
Classified [Member] | Mortgages [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 79,906 | 100,310 |
Classified [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 4,715 | 42,558 |
Classified [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 31,044 | 121,932 |
Classified [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 439 | 462 |
Special Mention [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 391,611 | 721,285 |
Special Mention [Member] | Mortgages [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 211,657 | 323,846 |
Special Mention [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 69,447 | 108,351 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 108,666 | 286,356 |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 1,841 | 2,732 |
Pass [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 22,433,833 | 18,096,830 |
Pass [Member] | Mortgages [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 10,887,157 | 7,475,780 |
Pass [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 3,362,965 | 3,209,372 |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 7,728,341 | 7,094,617 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 455,370 | 317,061 |
Performing Financing Receivable [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 22,880,374 | 18,992,214 |
Performing Financing Receivable [Member] | Mortgages [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 11,138,888 | 7,854,379 |
Performing Financing Receivable [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 3,432,412 | 3,359,966 |
Performing Financing Receivable [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 7,851,838 | 7,458,003 |
Performing Financing Receivable [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 457,236 | 319,866 |
Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 4,075,477 | 3,429,283 |
Financing Receivable, Nonaccrual | 1,464 | 2,679 |
Asset Based [Member] | Classified [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 4,591 | 27,867 |
Asset Based [Member] | Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 78,305 | 153,301 |
Asset Based [Member] | Pass [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 3,992,581 | 3,248,115 |
Asset Based [Member] | Performing Financing Receivable [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 4,074,013 | 3,426,604 |
Venture Capital Loans [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 2,320,593 | 1,698,508 |
Financing Receivable, Nonaccrual | 2,799 | 1,980 |
Venture Capital Loans [Member] | Classified [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 4,794 | 6,508 |
Venture Capital Loans [Member] | Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 14,833 | 118,125 |
Venture Capital Loans [Member] | Pass [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 2,300,966 | 1,573,875 |
Venture Capital Loans [Member] | Performing Financing Receivable [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 2,317,794 | 1,696,528 |
Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 1,471,981 | 2,375,114 |
Financing Receivable, Nonaccrual | 11,950 | 40,243 |
Other Commercial [Member] | Classified [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 21,659 | 87,557 |
Other Commercial [Member] | Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 15,528 | 14,930 |
Other Commercial [Member] | Pass [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 1,434,794 | 2,272,627 |
Other Commercial [Member] | Performing Financing Receivable [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 1,460,031 | 2,334,871 |
Commercial Real Estate Construction Loan Receivable [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 832,591 | 1,117,121 |
Financing Receivable, Nonaccrual | 0 | 315 |
Commercial Real Estate Construction Loan Receivable [Member] | Classified [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 0 | 42,558 |
Commercial Real Estate Construction Loan Receivable [Member] | Special Mention [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 67,727 | 107,592 |
Commercial Real Estate Construction Loan Receivable [Member] | Pass [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 764,864 | 966,971 |
Commercial Real Estate Construction Loan Receivable [Member] | Performing Financing Receivable [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 832,591 | 1,116,806 |
Residential Real Estate Construction Financing Receivable [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 2,604,536 | 2,243,160 |
Financing Receivable, Nonaccrual | 4,715 | 0 |
Residential Real Estate Construction Financing Receivable [Member] | Classified [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 4,715 | 0 |
Residential Real Estate Construction Financing Receivable [Member] | Special Mention [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 1,720 | 759 |
Residential Real Estate Construction Financing Receivable [Member] | Pass [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 2,598,101 | 2,242,401 |
Residential Real Estate Construction Financing Receivable [Member] | Performing Financing Receivable [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 2,599,821 | 2,243,160 |
Commercial Real Estate [Member] | Mortgages [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 3,762,299 | 4,096,671 |
Financing Receivable, Nonaccrual | 27,540 | 43,731 |
Commercial Real Estate [Member] | Classified [Member] | Mortgages [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 62,206 | 91,543 |
Commercial Real Estate [Member] | Special Mention [Member] | Mortgages [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 191,809 | 262,462 |
Commercial Real Estate [Member] | Pass [Member] | Mortgages [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 3,508,284 | 3,742,666 |
Commercial Real Estate [Member] | Performing Financing Receivable [Member] | Mortgages [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 3,734,759 | 4,052,940 |
Residential Real Estate [Member] | Mortgages [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 7,416,421 | 3,803,265 |
Financing Receivable, Nonaccrual | 12,292 | 1,826 |
Residential Real Estate [Member] | Classified [Member] | Mortgages [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 17,700 | 8,767 |
Residential Real Estate [Member] | Special Mention [Member] | Mortgages [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 19,848 | 61,384 |
Residential Real Estate [Member] | Pass [Member] | Mortgages [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | 7,378,873 | 3,733,114 |
Residential Real Estate [Member] | Performing Financing Receivable [Member] | Mortgages [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Loans held for investment, net | $ 7,404,129 | $ 3,801,439 |
Loans and Leases (Details 4)
Loans and Leases (Details 4) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Financing Receivable, Nonaccrual | $ 61,174 | $ 91,163 |
Financing Receivable, Nonaccrual, Interest Income | 765 | 5,576 |
Mortgages [Member] | ||
Financing Receivable, Nonaccrual | 39,832 | 45,557 |
Financing Receivable, Nonaccrual, Interest Income | 596 | 524 |
Real Estate Construction [Member] | ||
Financing Receivable, Nonaccrual | 4,715 | 315 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 |
Real Estate Construction [Member] | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Nonaccrual | 0 | 315 |
Real Estate Construction [Member] | Commercial Real Estate Construction Loan Receivable [Member] | No Finance Receivable Allowance | ||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 |
Financing Receivable, Nonaccrual, No Allowance | 0 | 315 |
Real Estate Construction [Member] | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Nonaccrual | 4,715 | 0 |
Real Estate Construction [Member] | Residential Real Estate Construction Financing Receivable [Member] | Finance Receivable Allowance | ||
Financing Receivable, Nonaccrual | 616 | 0 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 |
Real Estate Construction [Member] | Residential Real Estate Construction Financing Receivable [Member] | No Finance Receivable Allowance | ||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 |
Financing Receivable, Nonaccrual, No Allowance | 4,099 | 0 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Nonaccrual | 16,213 | 44,902 |
Financing Receivable, Nonaccrual, Interest Income | 169 | 5,052 |
Commercial Portfolio Segment [Member] | Asset Based [Member] | ||
Financing Receivable, Nonaccrual | 1,464 | 2,679 |
Commercial Portfolio Segment [Member] | Asset Based [Member] | Finance Receivable Allowance | ||
Financing Receivable, Nonaccrual | 1,000 | 2,128 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 |
Commercial Portfolio Segment [Member] | Asset Based [Member] | No Finance Receivable Allowance | ||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 |
Financing Receivable, Nonaccrual, No Allowance | 464 | 551 |
Commercial Portfolio Segment [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Nonaccrual | 2,799 | 1,980 |
Commercial Portfolio Segment [Member] | Venture Capital Loans [Member] | Finance Receivable Allowance | ||
Financing Receivable, Nonaccrual | 2,799 | 1,980 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 |
Commercial Portfolio Segment [Member] | Other Commercial [Member] | ||
Financing Receivable, Nonaccrual | 11,950 | 40,243 |
Commercial Portfolio Segment [Member] | Other Commercial [Member] | Finance Receivable Allowance | ||
Financing Receivable, Nonaccrual | 1,081 | 2,438 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Nonaccrual | 414 | 389 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 |
Consumer Portfolio Segment [Member] | Finance Receivable Allowance | ||
Financing Receivable, Nonaccrual | 19 | 389 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 |
Consumer Portfolio Segment [Member] | No Finance Receivable Allowance | ||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 |
Financing Receivable, Nonaccrual, No Allowance | 395 | 0 |
Other Commercial [Member] | Other Commercial [Member] | No Finance Receivable Allowance | ||
Financing Receivable, Nonaccrual, Interest Income | 169 | 5,052 |
Financing Receivable, Nonaccrual, No Allowance | 10,869 | 37,805 |
Commercial Real Estate [Member] | Mortgages [Member] | ||
Financing Receivable, Nonaccrual | 27,540 | 43,731 |
Commercial Real Estate [Member] | Mortgages [Member] | Finance Receivable Allowance | ||
Financing Receivable, Nonaccrual | 70 | 78 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 |
Commercial Real Estate [Member] | Mortgages [Member] | No Finance Receivable Allowance | ||
Financing Receivable, Nonaccrual, Interest Income | 596 | 524 |
Financing Receivable, Nonaccrual, No Allowance | 27,470 | 43,653 |
Residential Real Estate [Member] | Mortgages [Member] | ||
Financing Receivable, Nonaccrual | 12,292 | 1,826 |
Residential Real Estate [Member] | Mortgages [Member] | Finance Receivable Allowance | ||
Financing Receivable, Nonaccrual | 3,555 | 1,260 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 |
Residential Real Estate [Member] | Mortgages [Member] | No Finance Receivable Allowance | ||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 |
Financing Receivable, Nonaccrual, No Allowance | $ 8,737 | $ 566 |
Loans and Leases (Details 5)
Loans and Leases (Details 5) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | $ (22,941,548) | $ (19,083,377) |
Gross Charges By Origination Year | (10,715) | (93,589) |
Gross Recoveries By Origination Year | (12,598) | (6,368) |
Allowance for Loan Loss, Net Write offs | (1,883) | 87,221 |
Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (11,178,720) | (7,899,936) |
Real Estate Construction [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (3,437,127) | (3,360,281) |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (7,868,051) | (7,502,905) |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (457,650) | (320,255) |
Gross Charges By Origination Year | (1,507) | (798) |
Gross Recoveries By Origination Year | (120) | (201) |
Allowance for Loan Loss, Net Write offs | 1,387 | 597 |
Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (832,591) | (1,117,121) |
Gross Charges By Origination Year | (775) | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 775 | 0 |
Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (2,604,536) | (2,243,160) |
Gross Charges By Origination Year | (7) | 0 |
Gross Recoveries By Origination Year | 0 | (21) |
Allowance for Loan Loss, Net Write offs | 7 | (21) |
Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (4,075,477) | (3,429,283) |
Gross Charges By Origination Year | (232) | (11,817) |
Gross Recoveries By Origination Year | (719) | (708) |
Allowance for Loan Loss, Net Write offs | (487) | 11,109 |
Venture Capital Loans [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (2,320,593) | (1,698,508) |
Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (2,320,593) | (1,698,508) |
Gross Charges By Origination Year | (620) | (6,819) |
Gross Recoveries By Origination Year | (404) | (1,261) |
Allowance for Loan Loss, Net Write offs | 216 | 5,558 |
Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,471,981) | (2,375,114) |
Gross Charges By Origination Year | (6,446) | (63,469) |
Gross Recoveries By Origination Year | (4,588) | (3,560) |
Allowance for Loan Loss, Net Write offs | 1,858 | 59,909 |
1-2 High Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (2,316,130) | (2,640,712) |
1-2 High Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (702) | (546) |
1-2 High Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
1-2 High Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
1-2 High Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,531,301) | (1,027,727) |
1-2 High Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (230,829) | (174,136) |
1-2 High Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (176,741) | (1,133,860) |
3-4 Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (20,117,703) | (15,456,118) |
3-4 Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (454,668) | (316,515) |
3-4 Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (764,864) | (966,971) |
3-4 Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (2,598,101) | (2,242,401) |
3-4 Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (2,461,280) | (2,220,388) |
3-4 Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (2,070,137) | (1,399,739) |
3-4 Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,258,053) | (1,138,767) |
5 Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (391,611) | (721,285) |
5 Special Mention | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,841) | (2,732) |
5 Special Mention | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (67,727) | (107,592) |
5 Special Mention | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,720) | (759) |
5 Special Mention | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (78,305) | (153,301) |
5 Special Mention | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (14,833) | (118,125) |
5 Special Mention | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (15,528) | (14,930) |
6-8 Classified | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (116,104) | (265,262) |
6-8 Classified | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (439) | (462) |
6-8 Classified | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | (42,558) |
6-8 Classified | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (4,715) | 0 |
6-8 Classified | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (4,591) | (27,867) |
6-8 Classified | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (4,794) | (6,508) |
6-8 Classified | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (21,659) | (87,557) |
Revolving Credit Facility | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (5,526,869) | (4,444,169) |
Gross Charges By Origination Year | (985) | (27,498) |
Gross Recoveries By Origination Year | (86) | (787) |
Allowance for Loan Loss, Net Write offs | 899 | 26,711 |
Revolving Credit Facility | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (6,335) | (9,047) |
Gross Charges By Origination Year | 0 | (22) |
Gross Recoveries By Origination Year | (1) | 0 |
Allowance for Loan Loss, Net Write offs | (1) | 22 |
Revolving Credit Facility | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (18,190) | (7,583) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Revolving Credit Facility | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (28,804) | (9,034) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Revolving Credit Facility | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (2,715,753) | (2,058,083) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | (28) | (236) |
Allowance for Loan Loss, Net Write offs | (28) | (236) |
Revolving Credit Facility | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,943,854) | (1,376,195) |
Gross Charges By Origination Year | 0 | (144) |
Gross Recoveries By Origination Year | 0 | (450) |
Allowance for Loan Loss, Net Write offs | 0 | (306) |
Revolving Credit Facility | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (642,195) | (806,675) |
Gross Charges By Origination Year | (985) | (27,332) |
Gross Recoveries By Origination Year | (57) | (100) |
Allowance for Loan Loss, Net Write offs | 928 | 27,232 |
Revolving Credit Facility | 1-2 High Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (982,446) | (517,104) |
Revolving Credit Facility | 1-2 High Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (646) | (509) |
Revolving Credit Facility | 1-2 High Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Revolving Credit Facility | 1-2 High Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Revolving Credit Facility | 1-2 High Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (706,656) | (275,093) |
Revolving Credit Facility | 1-2 High Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (228,820) | (167,296) |
Revolving Credit Facility | 1-2 High Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (18,206) | (74,206) |
Revolving Credit Facility | 3-4 Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (4,511,074) | (3,771,354) |
Revolving Credit Facility | 3-4 Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (5,689) | (8,536) |
Revolving Credit Facility | 3-4 Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (18,190) | (7,583) |
Revolving Credit Facility | 3-4 Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (28,804) | (9,034) |
Revolving Credit Facility | 3-4 Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,992,677) | (1,750,934) |
Revolving Credit Facility | 3-4 Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,715,057) | (1,161,606) |
Revolving Credit Facility | 3-4 Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (607,197) | (657,088) |
Revolving Credit Facility | 5 Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (13,597) | (71,218) |
Revolving Credit Facility | 5 Special Mention | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Revolving Credit Facility | 5 Special Mention | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Revolving Credit Facility | 5 Special Mention | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Revolving Credit Facility | 5 Special Mention | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (12,393) | (23,257) |
Revolving Credit Facility | 5 Special Mention | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (17) | (46,765) |
Revolving Credit Facility | 5 Special Mention | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,061) | (335) |
Revolving Credit Facility | 6-8 Classified | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (19,752) | (84,493) |
Revolving Credit Facility | 6-8 Classified | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | (2) |
Revolving Credit Facility | 6-8 Classified | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Revolving Credit Facility | 6-8 Classified | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Revolving Credit Facility | 6-8 Classified | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (4,027) | (8,799) |
Revolving Credit Facility | 6-8 Classified | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (6) | (528) |
Revolving Credit Facility | 6-8 Classified | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (15,731) | (75,046) |
Revolving Converted To Term Loan | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (105,951) | (216,674) |
Gross Charges By Origination Year | (2,650) | (2,337) |
Gross Recoveries By Origination Year | (446) | (19) |
Allowance for Loan Loss, Net Write offs | 2,204 | 2,318 |
Revolving Converted To Term Loan | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (19) | (105) |
Gross Charges By Origination Year | (54) | (9) |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 54 | 9 |
Revolving Converted To Term Loan | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Revolving Converted To Term Loan | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (10,672) | (53,035) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Revolving Converted To Term Loan | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (60,731) | (121,850) |
Gross Charges By Origination Year | (232) | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 232 | 0 |
Revolving Converted To Term Loan | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (10,502) | (10,739) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Revolving Converted To Term Loan | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (11,623) | (15,602) |
Gross Charges By Origination Year | (2,364) | (1,871) |
Gross Recoveries By Origination Year | (145) | (19) |
Allowance for Loan Loss, Net Write offs | 2,219 | 1,852 |
Revolving Converted To Term Loan | 1-2 High Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (51,188) | (72,097) |
Revolving Converted To Term Loan | 1-2 High Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Revolving Converted To Term Loan | 1-2 High Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Revolving Converted To Term Loan | 1-2 High Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Revolving Converted To Term Loan | 1-2 High Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (50,495) | (72,017) |
Revolving Converted To Term Loan | 1-2 High Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Revolving Converted To Term Loan | 1-2 High Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (693) | (80) |
Revolving Converted To Term Loan | 3-4 Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (46,987) | (126,955) |
Revolving Converted To Term Loan | 3-4 Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | (78) |
Revolving Converted To Term Loan | 3-4 Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Revolving Converted To Term Loan | 3-4 Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (10,672) | (53,035) |
Revolving Converted To Term Loan | 3-4 Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (6,158) | (46,078) |
Revolving Converted To Term Loan | 3-4 Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (8,202) | (5,725) |
Revolving Converted To Term Loan | 3-4 Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (9,822) | (7,533) |
Revolving Converted To Term Loan | 5 Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (4,039) | (10,591) |
Revolving Converted To Term Loan | 5 Special Mention | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Revolving Converted To Term Loan | 5 Special Mention | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Revolving Converted To Term Loan | 5 Special Mention | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Revolving Converted To Term Loan | 5 Special Mention | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (3,978) | (4,655) |
Revolving Converted To Term Loan | 5 Special Mention | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | (5,014) |
Revolving Converted To Term Loan | 5 Special Mention | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (61) | (922) |
Revolving Converted To Term Loan | 6-8 Classified | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (3,737) | (7,031) |
Revolving Converted To Term Loan | 6-8 Classified | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (19) | (27) |
Revolving Converted To Term Loan | 6-8 Classified | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Revolving Converted To Term Loan | 6-8 Classified | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Revolving Converted To Term Loan | 6-8 Classified | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (100) | (900) |
Revolving Converted To Term Loan | 6-8 Classified | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (2,300) | 0 |
Revolving Converted To Term Loan | 6-8 Classified | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,047) | (7,067) |
Commercial Real Estate [Member] | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (3,762,299) | (4,096,671) |
Gross Charges By Origination Year | (965) | (10,178) |
Gross Recoveries By Origination Year | (6,081) | (289) |
Allowance for Loan Loss, Net Write offs | (5,116) | 9,889 |
Commercial Real Estate [Member] | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (90,046) | (99,799) |
Commercial Real Estate [Member] | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (3,418,238) | (3,642,867) |
Commercial Real Estate [Member] | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (191,809) | (262,462) |
Commercial Real Estate [Member] | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (62,206) | (91,543) |
Commercial Real Estate [Member] | Revolving Credit Facility | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (51,808) | (62,586) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Commercial Real Estate [Member] | Revolving Credit Facility | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (3) | 0 |
Commercial Real Estate [Member] | Revolving Credit Facility | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (51,805) | (62,586) |
Commercial Real Estate [Member] | Revolving Credit Facility | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Commercial Real Estate [Member] | Revolving Credit Facility | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Commercial Real Estate [Member] | Revolving Converted To Term Loan | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (11,977) | (13,978) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Commercial Real Estate [Member] | Revolving Converted To Term Loan | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Commercial Real Estate [Member] | Revolving Converted To Term Loan | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (11,977) | (13,978) |
Commercial Real Estate [Member] | Revolving Converted To Term Loan | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Commercial Real Estate [Member] | Revolving Converted To Term Loan | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Residential Real Estate [Member] | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (7,416,421) | (3,803,265) |
Gross Charges By Origination Year | (163) | (508) |
Gross Recoveries By Origination Year | (686) | (328) |
Allowance for Loan Loss, Net Write offs | (523) | 180 |
Residential Real Estate [Member] | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (286,511) | (204,644) |
Residential Real Estate [Member] | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (7,092,362) | (3,528,470) |
Residential Real Estate [Member] | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (19,848) | (61,384) |
Residential Real Estate [Member] | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (17,700) | (8,767) |
Residential Real Estate [Member] | Revolving Credit Facility | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (119,930) | (114,966) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | (1) |
Allowance for Loan Loss, Net Write offs | 0 | (1) |
Residential Real Estate [Member] | Revolving Credit Facility | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (28,115) | 0 |
Residential Real Estate [Member] | Revolving Credit Facility | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (91,655) | (113,987) |
Residential Real Estate [Member] | Revolving Credit Facility | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (160) | (861) |
Residential Real Estate [Member] | Revolving Credit Facility | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | (118) |
Residential Real Estate [Member] | Revolving Converted To Term Loan | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (427) | (1,365) |
Gross Charges By Origination Year | 0 | (457) |
Gross Recoveries By Origination Year | (301) | 0 |
Allowance for Loan Loss, Net Write offs | (301) | 457 |
Residential Real Estate [Member] | Revolving Converted To Term Loan | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Residential Real Estate [Member] | Revolving Converted To Term Loan | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (156) | (528) |
Residential Real Estate [Member] | Revolving Converted To Term Loan | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Residential Real Estate [Member] | Revolving Converted To Term Loan | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (271) | (837) |
Origination Date 2021 | Term Loans By Origination Date | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (7,258,473) | |
Gross Charges By Origination Year | (2,027) | |
Gross Recoveries By Origination Year | (28) | |
Allowance for Loan Loss, Net Write offs | 1,999 | |
Origination Date 2021 | Term Loans By Origination Date | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (262,511) | |
Gross Charges By Origination Year | 0 | |
Gross Recoveries By Origination Year | 0 | |
Allowance for Loan Loss, Net Write offs | 0 | |
Origination Date 2021 | Term Loans By Origination Date | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (96,108) | |
Gross Charges By Origination Year | 0 | |
Gross Recoveries By Origination Year | 0 | |
Allowance for Loan Loss, Net Write offs | 0 | |
Origination Date 2021 | Term Loans By Origination Date | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (850,313) | |
Gross Charges By Origination Year | (7) | |
Gross Recoveries By Origination Year | 0 | |
Allowance for Loan Loss, Net Write offs | 7 | |
Origination Date 2021 | Term Loans By Origination Date | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (381,045) | |
Gross Charges By Origination Year | 0 | |
Gross Recoveries By Origination Year | 0 | |
Allowance for Loan Loss, Net Write offs | 0 | |
Origination Date 2021 | Term Loans By Origination Date | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (239,047) | |
Gross Charges By Origination Year | 0 | |
Gross Recoveries By Origination Year | 0 | |
Allowance for Loan Loss, Net Write offs | 0 | |
Origination Date 2021 | Term Loans By Origination Date | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (421,159) | |
Gross Charges By Origination Year | (1,992) | |
Gross Recoveries By Origination Year | 0 | |
Allowance for Loan Loss, Net Write offs | 1,992 | |
Origination Date 2021 | Term Loans By Origination Date | 1-2 High Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (369,274) | |
Origination Date 2021 | Term Loans By Origination Date | 1-2 High Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (36) | |
Origination Date 2021 | Term Loans By Origination Date | 1-2 High Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2021 | Term Loans By Origination Date | 1-2 High Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2021 | Term Loans By Origination Date | 1-2 High Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (138,836) | |
Origination Date 2021 | Term Loans By Origination Date | 1-2 High Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2021 | Term Loans By Origination Date | 1-2 High Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (134,825) | |
Origination Date 2021 | Term Loans By Origination Date | 3-4 Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (6,869,712) | |
Origination Date 2021 | Term Loans By Origination Date | 3-4 Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (261,678) | |
Origination Date 2021 | Term Loans By Origination Date | 3-4 Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (96,108) | |
Origination Date 2021 | Term Loans By Origination Date | 3-4 Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (849,188) | |
Origination Date 2021 | Term Loans By Origination Date | 3-4 Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (242,209) | |
Origination Date 2021 | Term Loans By Origination Date | 3-4 Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (229,567) | |
Origination Date 2021 | Term Loans By Origination Date | 3-4 Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (286,281) | |
Origination Date 2021 | Term Loans By Origination Date | 5 Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (12,924) | |
Origination Date 2021 | Term Loans By Origination Date | 5 Special Mention | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (797) | |
Origination Date 2021 | Term Loans By Origination Date | 5 Special Mention | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2021 | Term Loans By Origination Date | 5 Special Mention | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (276) | |
Origination Date 2021 | Term Loans By Origination Date | 5 Special Mention | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2021 | Term Loans By Origination Date | 5 Special Mention | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (8,980) | |
Origination Date 2021 | Term Loans By Origination Date | 5 Special Mention | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2021 | Term Loans By Origination Date | 6-8 Classified | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (6,563) | |
Origination Date 2021 | Term Loans By Origination Date | 6-8 Classified | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2021 | Term Loans By Origination Date | 6-8 Classified | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2021 | Term Loans By Origination Date | 6-8 Classified | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (849) | |
Origination Date 2021 | Term Loans By Origination Date | 6-8 Classified | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2021 | Term Loans By Origination Date | 6-8 Classified | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (500) | |
Origination Date 2021 | Term Loans By Origination Date | 6-8 Classified | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (53) | |
Origination Date 2021 | Commercial Real Estate [Member] | Term Loans By Origination Date | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (500,187) | |
Gross Charges By Origination Year | 0 | |
Gross Recoveries By Origination Year | 0 | |
Allowance for Loan Loss, Net Write offs | 0 | |
Origination Date 2021 | Commercial Real Estate [Member] | Term Loans By Origination Date | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (561) | |
Origination Date 2021 | Commercial Real Estate [Member] | Term Loans By Origination Date | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (499,626) | |
Origination Date 2021 | Commercial Real Estate [Member] | Term Loans By Origination Date | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2021 | Commercial Real Estate [Member] | Term Loans By Origination Date | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2021 | Residential Real Estate [Member] | Term Loans By Origination Date | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (4,508,103) | |
Gross Charges By Origination Year | (28) | |
Gross Recoveries By Origination Year | (28) | |
Allowance for Loan Loss, Net Write offs | 0 | |
Origination Date 2021 | Residential Real Estate [Member] | Term Loans By Origination Date | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (95,016) | |
Origination Date 2021 | Residential Real Estate [Member] | Term Loans By Origination Date | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (4,405,055) | |
Origination Date 2021 | Residential Real Estate [Member] | Term Loans By Origination Date | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (2,871) | |
Origination Date 2021 | Residential Real Estate [Member] | Term Loans By Origination Date | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (5,161) | |
Origination Date 2020 | Term Loans By Origination Date | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (2,310,266) | (3,061,972) |
Gross Charges By Origination Year | (265) | 0 |
Gross Recoveries By Origination Year | 0 | (52) |
Allowance for Loan Loss, Net Write offs | 265 | (52) |
Origination Date 2020 | Term Loans By Origination Date | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (24,591) | (40,645) |
Gross Charges By Origination Year | (185) | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 185 | 0 |
Origination Date 2020 | Term Loans By Origination Date | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (96,448) | (66,114) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Origination Date 2020 | Term Loans By Origination Date | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (677,327) | (345,893) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Origination Date 2020 | Term Loans By Origination Date | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (144,655) | (271,468) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | (52) |
Allowance for Loan Loss, Net Write offs | 0 | (52) |
Origination Date 2020 | Term Loans By Origination Date | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (63,060) | (71,776) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Origination Date 2020 | Term Loans By Origination Date | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (96,176) | (1,146,282) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Origination Date 2020 | Term Loans By Origination Date | 1-2 High Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (135,778) | (1,234,380) |
Origination Date 2020 | Term Loans By Origination Date | 1-2 High Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (11) | (15) |
Origination Date 2020 | Term Loans By Origination Date | 1-2 High Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2020 | Term Loans By Origination Date | 1-2 High Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2020 | Term Loans By Origination Date | 1-2 High Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (72,725) | (116,247) |
Origination Date 2020 | Term Loans By Origination Date | 1-2 High Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,999) | (1,999) |
Origination Date 2020 | Term Loans By Origination Date | 1-2 High Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (22,556) | (1,057,405) |
Origination Date 2020 | Term Loans By Origination Date | 3-4 Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (2,152,244) | (1,789,708) |
Origination Date 2020 | Term Loans By Origination Date | 3-4 Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (24,195) | (40,585) |
Origination Date 2020 | Term Loans By Origination Date | 3-4 Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (96,448) | (66,114) |
Origination Date 2020 | Term Loans By Origination Date | 3-4 Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (672,864) | (345,134) |
Origination Date 2020 | Term Loans By Origination Date | 3-4 Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (71,930) | (155,221) |
Origination Date 2020 | Term Loans By Origination Date | 3-4 Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (58,283) | (48,132) |
Origination Date 2020 | Term Loans By Origination Date | 3-4 Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (73,328) | (88,875) |
Origination Date 2020 | Term Loans By Origination Date | 5 Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (13,238) | (37,378) |
Origination Date 2020 | Term Loans By Origination Date | 5 Special Mention | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (363) | (45) |
Origination Date 2020 | Term Loans By Origination Date | 5 Special Mention | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2020 | Term Loans By Origination Date | 5 Special Mention | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,185) | (759) |
Origination Date 2020 | Term Loans By Origination Date | 5 Special Mention | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2020 | Term Loans By Origination Date | 5 Special Mention | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (2,778) | (21,645) |
Origination Date 2020 | Term Loans By Origination Date | 5 Special Mention | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (291) | 0 |
Origination Date 2020 | Term Loans By Origination Date | 6-8 Classified | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (9,006) | (506) |
Origination Date 2020 | Term Loans By Origination Date | 6-8 Classified | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (22) | 0 |
Origination Date 2020 | Term Loans By Origination Date | 6-8 Classified | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2020 | Term Loans By Origination Date | 6-8 Classified | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (3,278) | 0 |
Origination Date 2020 | Term Loans By Origination Date | 6-8 Classified | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2020 | Term Loans By Origination Date | 6-8 Classified | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2020 | Term Loans By Origination Date | 6-8 Classified | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1) | (2) |
Origination Date 2020 | Commercial Real Estate [Member] | Term Loans By Origination Date | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (546,436) | (557,269) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Origination Date 2020 | Commercial Real Estate [Member] | Term Loans By Origination Date | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (9,148) | 0 |
Origination Date 2020 | Commercial Real Estate [Member] | Term Loans By Origination Date | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (531,989) | (554,143) |
Origination Date 2020 | Commercial Real Estate [Member] | Term Loans By Origination Date | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (4,811) | (2,622) |
Origination Date 2020 | Commercial Real Estate [Member] | Term Loans By Origination Date | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (488) | (504) |
Origination Date 2020 | Residential Real Estate [Member] | Term Loans By Origination Date | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (661,573) | (562,525) |
Gross Charges By Origination Year | (80) | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 80 | 0 |
Origination Date 2020 | Residential Real Estate [Member] | Term Loans By Origination Date | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (29,339) | (58,714) |
Origination Date 2020 | Residential Real Estate [Member] | Term Loans By Origination Date | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (623,207) | (491,504) |
Origination Date 2020 | Residential Real Estate [Member] | Term Loans By Origination Date | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (3,810) | (12,307) |
Origination Date 2020 | Residential Real Estate [Member] | Term Loans By Origination Date | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (5,217) | 0 |
Origination Date 2019 | Term Loans By Origination Date | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (2,803,560) | (3,147,680) |
Gross Charges By Origination Year | (965) | (97) |
Gross Recoveries By Origination Year | (169) | (18) |
Allowance for Loan Loss, Net Write offs | 796 | 79 |
Origination Date 2019 | Term Loans By Origination Date | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (74,479) | (111,165) |
Gross Charges By Origination Year | (654) | (97) |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 654 | 97 |
Origination Date 2019 | Term Loans By Origination Date | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (386,832) | (369,588) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Origination Date 2019 | Term Loans By Origination Date | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (851,715) | (670,894) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Origination Date 2019 | Term Loans By Origination Date | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (286,835) | (318,077) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Origination Date 2019 | Term Loans By Origination Date | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (46,506) | (149,023) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | (127) | 0 |
Allowance for Loan Loss, Net Write offs | (127) | 0 |
Origination Date 2019 | Term Loans By Origination Date | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (78,144) | (96,094) |
Gross Charges By Origination Year | (122) | 0 |
Gross Recoveries By Origination Year | (42) | (18) |
Allowance for Loan Loss, Net Write offs | 80 | (18) |
Origination Date 2019 | Term Loans By Origination Date | 1-2 High Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (268,730) | (262,764) |
Origination Date 2019 | Term Loans By Origination Date | 1-2 High Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2019 | Term Loans By Origination Date | 1-2 High Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2019 | Term Loans By Origination Date | 1-2 High Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2019 | Term Loans By Origination Date | 1-2 High Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (178,291) | (173,457) |
Origination Date 2019 | Term Loans By Origination Date | 1-2 High Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | (4,797) |
Origination Date 2019 | Term Loans By Origination Date | 1-2 High Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (261) | (380) |
Origination Date 2019 | Term Loans By Origination Date | 3-4 Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (2,390,507) | (2,699,583) |
Origination Date 2019 | Term Loans By Origination Date | 3-4 Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (73,860) | (110,993) |
Origination Date 2019 | Term Loans By Origination Date | 3-4 Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (386,832) | (369,588) |
Origination Date 2019 | Term Loans By Origination Date | 3-4 Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (851,127) | (670,894) |
Origination Date 2019 | Term Loans By Origination Date | 3-4 Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (59,748) | (84,798) |
Origination Date 2019 | Term Loans By Origination Date | 3-4 Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (46,007) | (103,437) |
Origination Date 2019 | Term Loans By Origination Date | 3-4 Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (77,487) | (95,110) |
Origination Date 2019 | Term Loans By Origination Date | 5 Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (126,180) | (185,189) |
Origination Date 2019 | Term Loans By Origination Date | 5 Special Mention | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (496) | (137) |
Origination Date 2019 | Term Loans By Origination Date | 5 Special Mention | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2019 | Term Loans By Origination Date | 5 Special Mention | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2019 | Term Loans By Origination Date | 5 Special Mention | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (48,796) | (59,822) |
Origination Date 2019 | Term Loans By Origination Date | 5 Special Mention | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (499) | (42,499) |
Origination Date 2019 | Term Loans By Origination Date | 5 Special Mention | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1) | (40) |
Origination Date 2019 | Term Loans By Origination Date | 6-8 Classified | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (18,143) | (144) |
Origination Date 2019 | Term Loans By Origination Date | 6-8 Classified | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (123) | (35) |
Origination Date 2019 | Term Loans By Origination Date | 6-8 Classified | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2019 | Term Loans By Origination Date | 6-8 Classified | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (588) | 0 |
Origination Date 2019 | Term Loans By Origination Date | 6-8 Classified | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2019 | Term Loans By Origination Date | 6-8 Classified | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | (1,710) |
Origination Date 2019 | Term Loans By Origination Date | 6-8 Classified | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (395) | (564) |
Origination Date 2019 | Commercial Real Estate [Member] | Term Loans By Origination Date | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (434,450) | (521,828) |
Gross Charges By Origination Year | (189) | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 189 | 0 |
Origination Date 2019 | Commercial Real Estate [Member] | Term Loans By Origination Date | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (32,304) | (28,304) |
Origination Date 2019 | Commercial Real Estate [Member] | Term Loans By Origination Date | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (321,728) | (413,785) |
Origination Date 2019 | Commercial Real Estate [Member] | Term Loans By Origination Date | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (63,381) | (78,484) |
Origination Date 2019 | Commercial Real Estate [Member] | Term Loans By Origination Date | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (17,037) | (1,255) |
Origination Date 2019 | Residential Real Estate [Member] | Term Loans By Origination Date | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (644,599) | (911,011) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Origination Date 2019 | Residential Real Estate [Member] | Term Loans By Origination Date | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (57,874) | (55,826) |
Origination Date 2019 | Residential Real Estate [Member] | Term Loans By Origination Date | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (573,718) | (850,978) |
Origination Date 2019 | Residential Real Estate [Member] | Term Loans By Origination Date | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (13,007) | (4,207) |
Origination Date 2019 | Residential Real Estate [Member] | Term Loans By Origination Date | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2018 | Term Loans By Origination Date | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,949,477) | (3,524,108) |
Gross Charges By Origination Year | (1,146) | (6,773) |
Gross Recoveries By Origination Year | (64) | (487) |
Allowance for Loan Loss, Net Write offs | 1,082 | 6,286 |
Origination Date 2018 | Term Loans By Origination Date | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (35,739) | (64,469) |
Gross Charges By Origination Year | (156) | (86) |
Gross Recoveries By Origination Year | (27) | (1) |
Allowance for Loan Loss, Net Write offs | 129 | 85 |
Origination Date 2018 | Term Loans By Origination Date | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (152,444) | (397,691) |
Gross Charges By Origination Year | (775) | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 775 | 0 |
Origination Date 2018 | Term Loans By Origination Date | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (163,950) | (849,819) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Origination Date 2018 | Term Loans By Origination Date | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (182,460) | (238,958) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Origination Date 2018 | Term Loans By Origination Date | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (9,241) | (44,020) |
Gross Charges By Origination Year | 0 | (6,533) |
Gross Recoveries By Origination Year | (37) | (478) |
Allowance for Loan Loss, Net Write offs | (37) | 6,055 |
Origination Date 2018 | Term Loans By Origination Date | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (69,680) | (101,663) |
Gross Charges By Origination Year | (47) | 0 |
Gross Recoveries By Origination Year | 0 | (8) |
Allowance for Loan Loss, Net Write offs | 47 | (8) |
Origination Date 2018 | Term Loans By Origination Date | 1-2 High Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (179,933) | (145,321) |
Origination Date 2018 | Term Loans By Origination Date | 1-2 High Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (5) | (8) |
Origination Date 2018 | Term Loans By Origination Date | 1-2 High Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2018 | Term Loans By Origination Date | 1-2 High Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2018 | Term Loans By Origination Date | 1-2 High Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (123,947) | (111,630) |
Origination Date 2018 | Term Loans By Origination Date | 1-2 High Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2018 | Term Loans By Origination Date | 1-2 High Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (4) | (4) |
Origination Date 2018 | Term Loans By Origination Date | 3-4 Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,667,175) | (3,134,344) |
Origination Date 2018 | Term Loans By Origination Date | 3-4 Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (35,623) | (62,833) |
Origination Date 2018 | Term Loans By Origination Date | 3-4 Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (152,444) | (357,295) |
Origination Date 2018 | Term Loans By Origination Date | 3-4 Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (163,950) | (849,819) |
Origination Date 2018 | Term Loans By Origination Date | 3-4 Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (45,375) | (85,539) |
Origination Date 2018 | Term Loans By Origination Date | 3-4 Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (7,241) | (37,818) |
Origination Date 2018 | Term Loans By Origination Date | 3-4 Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (67,591) | (99,434) |
Origination Date 2018 | Term Loans By Origination Date | 5 Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (91,598) | (230,012) |
Origination Date 2018 | Term Loans By Origination Date | 5 Special Mention | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | (1,628) |
Origination Date 2018 | Term Loans By Origination Date | 5 Special Mention | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | (40,396) |
Origination Date 2018 | Term Loans By Origination Date | 5 Special Mention | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2018 | Term Loans By Origination Date | 5 Special Mention | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (13,138) | (41,789) |
Origination Date 2018 | Term Loans By Origination Date | 5 Special Mention | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | (2,202) |
Origination Date 2018 | Term Loans By Origination Date | 5 Special Mention | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (2,088) | (2,145) |
Origination Date 2018 | Term Loans By Origination Date | 6-8 Classified | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (10,771) | (14,431) |
Origination Date 2018 | Term Loans By Origination Date | 6-8 Classified | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (111) | 0 |
Origination Date 2018 | Term Loans By Origination Date | 6-8 Classified | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2018 | Term Loans By Origination Date | 6-8 Classified | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2018 | Term Loans By Origination Date | 6-8 Classified | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2018 | Term Loans By Origination Date | 6-8 Classified | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (2,000) | (4,000) |
Origination Date 2018 | Term Loans By Origination Date | 6-8 Classified | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (3) | (80) |
Origination Date 2018 | Commercial Real Estate [Member] | Term Loans By Origination Date | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (668,437) | (686,231) |
Gross Charges By Origination Year | (168) | (154) |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 168 | 154 |
Origination Date 2018 | Commercial Real Estate [Member] | Term Loans By Origination Date | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (8,289) | (4,848) |
Origination Date 2018 | Commercial Real Estate [Member] | Term Loans By Origination Date | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (578,436) | (574,497) |
Origination Date 2018 | Commercial Real Estate [Member] | Term Loans By Origination Date | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (76,372) | (99,397) |
Origination Date 2018 | Commercial Real Estate [Member] | Term Loans By Origination Date | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (5,340) | (7,489) |
Origination Date 2018 | Residential Real Estate [Member] | Term Loans By Origination Date | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (667,526) | (1,141,257) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Origination Date 2018 | Residential Real Estate [Member] | Term Loans By Origination Date | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (47,688) | (28,831) |
Origination Date 2018 | Residential Real Estate [Member] | Term Loans By Origination Date | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (616,515) | (1,067,109) |
Origination Date 2018 | Residential Real Estate [Member] | Term Loans By Origination Date | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | (42,455) |
Origination Date 2018 | Residential Real Estate [Member] | Term Loans By Origination Date | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (3,323) | (2,862) |
Origination Date 2017 | Term Loans By Origination Date | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,305,834) | (2,091,555) |
Gross Charges By Origination Year | (753) | (4,013) |
Gross Recoveries By Origination Year | (447) | (229) |
Allowance for Loan Loss, Net Write offs | 306 | 3,784 |
Origination Date 2017 | Term Loans By Origination Date | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (21,782) | (39,347) |
Gross Charges By Origination Year | (270) | (177) |
Gross Recoveries By Origination Year | (13) | (10) |
Allowance for Loan Loss, Net Write offs | 257 | 167 |
Origination Date 2017 | Term Loans By Origination Date | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (68,447) | (185,782) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Origination Date 2017 | Term Loans By Origination Date | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (17,785) | (285,072) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Origination Date 2017 | Term Loans By Origination Date | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (80,290) | (121,194) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Origination Date 2017 | Term Loans By Origination Date | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,610) | (7,785) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | (158) | (176) |
Allowance for Loan Loss, Net Write offs | (158) | (176) |
Origination Date 2017 | Term Loans By Origination Date | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (47,523) | (78,717) |
Gross Charges By Origination Year | (139) | (506) |
Gross Recoveries By Origination Year | (268) | (34) |
Allowance for Loan Loss, Net Write offs | (129) | 472 |
Origination Date 2017 | Term Loans By Origination Date | 1-2 High Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (90,210) | (115,821) |
Origination Date 2017 | Term Loans By Origination Date | 1-2 High Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (4) | (14) |
Origination Date 2017 | Term Loans By Origination Date | 1-2 High Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2017 | Term Loans By Origination Date | 1-2 High Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2017 | Term Loans By Origination Date | 1-2 High Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (71,940) | (69,244) |
Origination Date 2017 | Term Loans By Origination Date | 1-2 High Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (4) | (4) |
Origination Date 2017 | Term Loans By Origination Date | 1-2 High Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (246) | (366) |
Origination Date 2017 | Term Loans By Origination Date | 3-4 Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,134,114) | (1,874,377) |
Origination Date 2017 | Term Loans By Origination Date | 3-4 Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (21,707) | (39,036) |
Origination Date 2017 | Term Loans By Origination Date | 3-4 Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (720) | (118,586) |
Origination Date 2017 | Term Loans By Origination Date | 3-4 Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (17,526) | (285,072) |
Origination Date 2017 | Term Loans By Origination Date | 3-4 Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (8,350) | (42,928) |
Origination Date 2017 | Term Loans By Origination Date | 3-4 Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,614) | (7,789) |
Origination Date 2017 | Term Loans By Origination Date | 3-4 Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (46,939) | (77,557) |
Origination Date 2017 | Term Loans By Origination Date | 5 Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (74,684) | (93,222) |
Origination Date 2017 | Term Loans By Origination Date | 5 Special Mention | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (50) | (261) |
Origination Date 2017 | Term Loans By Origination Date | 5 Special Mention | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (67,727) | (67,196) |
Origination Date 2017 | Term Loans By Origination Date | 5 Special Mention | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (259) | 0 |
Origination Date 2017 | Term Loans By Origination Date | 5 Special Mention | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | (9,022) |
Origination Date 2017 | Term Loans By Origination Date | 5 Special Mention | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2017 | Term Loans By Origination Date | 5 Special Mention | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (115) | (564) |
Origination Date 2017 | Term Loans By Origination Date | 6-8 Classified | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (6,826) | (8,135) |
Origination Date 2017 | Term Loans By Origination Date | 6-8 Classified | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (21) | (36) |
Origination Date 2017 | Term Loans By Origination Date | 6-8 Classified | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2017 | Term Loans By Origination Date | 6-8 Classified | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2017 | Term Loans By Origination Date | 6-8 Classified | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2017 | Term Loans By Origination Date | 6-8 Classified | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Origination Date 2017 | Term Loans By Origination Date | 6-8 Classified | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (223) | (230) |
Origination Date 2017 | Commercial Real Estate [Member] | Term Loans By Origination Date | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (508,786) | (761,181) |
Gross Charges By Origination Year | (344) | (3,330) |
Gross Recoveries By Origination Year | (8) | (9) |
Allowance for Loan Loss, Net Write offs | 336 | 3,321 |
Origination Date 2017 | Commercial Real Estate [Member] | Term Loans By Origination Date | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (6,248) | (13,184) |
Origination Date 2017 | Commercial Real Estate [Member] | Term Loans By Origination Date | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (489,727) | (725,503) |
Origination Date 2017 | Commercial Real Estate [Member] | Term Loans By Origination Date | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (6,533) | (14,625) |
Origination Date 2017 | Commercial Real Estate [Member] | Term Loans By Origination Date | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (6,278) | (7,869) |
Origination Date 2017 | Residential Real Estate [Member] | Term Loans By Origination Date | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (559,611) | (612,477) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Origination Date 2017 | Residential Real Estate [Member] | Term Loans By Origination Date | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (11,776) | (33,017) |
Origination Date 2017 | Residential Real Estate [Member] | Term Loans By Origination Date | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (547,531) | (577,906) |
Origination Date 2017 | Residential Real Estate [Member] | Term Loans By Origination Date | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | (1,554) |
Origination Date 2017 | Residential Real Estate [Member] | Term Loans By Origination Date | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (304) | 0 |
Origination Date 2016 | Term Loans By Origination Date | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,069,061) | |
Gross Charges By Origination Year | (594) | |
Gross Recoveries By Origination Year | (396) | |
Allowance for Loan Loss, Net Write offs | 198 | |
Origination Date 2016 | Term Loans By Origination Date | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (42,101) | |
Gross Charges By Origination Year | (363) | |
Gross Recoveries By Origination Year | (16) | |
Allowance for Loan Loss, Net Write offs | 347 | |
Origination Date 2016 | Term Loans By Origination Date | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (78,270) | |
Gross Charges By Origination Year | 0 | |
Gross Recoveries By Origination Year | 0 | |
Allowance for Loan Loss, Net Write offs | 0 | |
Origination Date 2016 | Term Loans By Origination Date | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (28,725) | |
Gross Charges By Origination Year | 0 | |
Gross Recoveries By Origination Year | 0 | |
Allowance for Loan Loss, Net Write offs | 0 | |
Origination Date 2016 | Term Loans By Origination Date | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (163,756) | |
Gross Charges By Origination Year | 0 | |
Gross Recoveries By Origination Year | 0 | |
Allowance for Loan Loss, Net Write offs | 0 | |
Origination Date 2016 | Term Loans By Origination Date | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (29,734) | |
Gross Charges By Origination Year | (8) | |
Gross Recoveries By Origination Year | (154) | |
Allowance for Loan Loss, Net Write offs | (162) | |
Origination Date 2016 | Term Loans By Origination Date | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (24,613) | |
Gross Charges By Origination Year | (239) | |
Gross Recoveries By Origination Year | (226) | |
Allowance for Loan Loss, Net Write offs | 13 | |
Origination Date 2016 | Term Loans By Origination Date | 1-2 High Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (153,135) | |
Origination Date 2016 | Term Loans By Origination Date | 1-2 High Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2016 | Term Loans By Origination Date | 1-2 High Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2016 | Term Loans By Origination Date | 1-2 High Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2016 | Term Loans By Origination Date | 1-2 High Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (121,838) | |
Origination Date 2016 | Term Loans By Origination Date | 1-2 High Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (4) | |
Origination Date 2016 | Term Loans By Origination Date | 1-2 High Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (69) | |
Origination Date 2016 | Term Loans By Origination Date | 3-4 Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (811,511) | |
Origination Date 2016 | Term Loans By Origination Date | 3-4 Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (41,623) | |
Origination Date 2016 | Term Loans By Origination Date | 3-4 Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (36,027) | |
Origination Date 2016 | Term Loans By Origination Date | 3-4 Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (28,725) | |
Origination Date 2016 | Term Loans By Origination Date | 3-4 Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (8,227) | |
Origination Date 2016 | Term Loans By Origination Date | 3-4 Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (29,738) | |
Origination Date 2016 | Term Loans By Origination Date | 3-4 Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (23,305) | |
Origination Date 2016 | Term Loans By Origination Date | 5 Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (25,147) | |
Origination Date 2016 | Term Loans By Origination Date | 5 Special Mention | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (422) | |
Origination Date 2016 | Term Loans By Origination Date | 5 Special Mention | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2016 | Term Loans By Origination Date | 5 Special Mention | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2016 | Term Loans By Origination Date | 5 Special Mention | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (14,274) | |
Origination Date 2016 | Term Loans By Origination Date | 5 Special Mention | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2016 | Term Loans By Origination Date | 5 Special Mention | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (484) | |
Origination Date 2016 | Term Loans By Origination Date | 6-8 Classified | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (79,268) | |
Origination Date 2016 | Term Loans By Origination Date | 6-8 Classified | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (56) | |
Origination Date 2016 | Term Loans By Origination Date | 6-8 Classified | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (42,243) | |
Origination Date 2016 | Term Loans By Origination Date | 6-8 Classified | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2016 | Term Loans By Origination Date | 6-8 Classified | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (19,417) | |
Origination Date 2016 | Term Loans By Origination Date | 6-8 Classified | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2016 | Term Loans By Origination Date | 6-8 Classified | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (755) | |
Origination Date 2016 | Commercial Real Estate [Member] | Term Loans By Origination Date | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (444,372) | |
Gross Charges By Origination Year | 0 | |
Gross Recoveries By Origination Year | 0 | |
Allowance for Loan Loss, Net Write offs | 0 | |
Origination Date 2016 | Commercial Real Estate [Member] | Term Loans By Origination Date | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (12,241) | |
Origination Date 2016 | Commercial Real Estate [Member] | Term Loans By Origination Date | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (405,367) | |
Origination Date 2016 | Commercial Real Estate [Member] | Term Loans By Origination Date | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (9,967) | |
Origination Date 2016 | Commercial Real Estate [Member] | Term Loans By Origination Date | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (16,797) | |
Origination Date 2016 | Residential Real Estate [Member] | Term Loans By Origination Date | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (257,490) | |
Gross Charges By Origination Year | 0 | |
Gross Recoveries By Origination Year | 0 | |
Allowance for Loan Loss, Net Write offs | 0 | |
Origination Date 2016 | Residential Real Estate [Member] | Term Loans By Origination Date | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (18,991) | |
Origination Date 2016 | Residential Real Estate [Member] | Term Loans By Origination Date | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (238,499) | |
Origination Date 2016 | Residential Real Estate [Member] | Term Loans By Origination Date | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Origination Date 2016 | Residential Real Estate [Member] | Term Loans By Origination Date | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | |
Prior | Term Loans By Origination Date | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,681,118) | (1,528,158) |
Gross Charges By Origination Year | (1,924) | (52,277) |
Gross Recoveries By Origination Year | (11,358) | (4,380) |
Allowance for Loan Loss, Net Write offs | (9,434) | 47,897 |
Prior | Term Loans By Origination Date | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (32,194) | (13,376) |
Gross Charges By Origination Year | (188) | (44) |
Gross Recoveries By Origination Year | (79) | (174) |
Allowance for Loan Loss, Net Write offs | 109 | (130) |
Prior | Term Loans By Origination Date | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (14,122) | (12,093) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | 0 |
Allowance for Loan Loss, Net Write offs | 0 | 0 |
Prior | Term Loans By Origination Date | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (3,970) | (688) |
Gross Charges By Origination Year | 0 | 0 |
Gross Recoveries By Origination Year | 0 | (21) |
Allowance for Loan Loss, Net Write offs | 0 | (21) |
Prior | Term Loans By Origination Date | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (223,708) | (135,897) |
Gross Charges By Origination Year | 0 | (11,817) |
Gross Recoveries By Origination Year | (691) | (420) |
Allowance for Loan Loss, Net Write offs | (691) | 11,397 |
Prior | Term Loans By Origination Date | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (6,773) | (9,236) |
Gross Charges By Origination Year | (620) | (150) |
Gross Recoveries By Origination Year | (82) | (3) |
Allowance for Loan Loss, Net Write offs | 538 | 147 |
Prior | Term Loans By Origination Date | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (105,481) | (105,468) |
Gross Charges By Origination Year | (797) | (33,521) |
Gross Recoveries By Origination Year | (4,076) | (3,155) |
Allowance for Loan Loss, Net Write offs | (3,279) | 30,366 |
Prior | Term Loans By Origination Date | 1-2 High Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (238,571) | (140,090) |
Prior | Term Loans By Origination Date | 1-2 High Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Prior | Term Loans By Origination Date | 1-2 High Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Prior | Term Loans By Origination Date | 1-2 High Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Prior | Term Loans By Origination Date | 1-2 High Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (188,411) | (88,201) |
Prior | Term Loans By Origination Date | 1-2 High Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (14) | (52) |
Prior | Term Loans By Origination Date | 1-2 High Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (50) | (1,350) |
Prior | Term Loans By Origination Date | 3-4 Pass | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,345,890) | (1,248,286) |
Prior | Term Loans By Origination Date | 3-4 Pass | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (31,916) | (12,831) |
Prior | Term Loans By Origination Date | 3-4 Pass | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (14,122) | (11,778) |
Prior | Term Loans By Origination Date | 3-4 Pass | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (3,970) | (688) |
Prior | Term Loans By Origination Date | 3-4 Pass | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (34,833) | (46,663) |
Prior | Term Loans By Origination Date | 3-4 Pass | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (4,166) | (5,494) |
Prior | Term Loans By Origination Date | 3-4 Pass | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (89,408) | (89,865) |
Prior | Term Loans By Origination Date | 5 Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (55,351) | (68,528) |
Prior | Term Loans By Origination Date | 5 Special Mention | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (135) | (239) |
Prior | Term Loans By Origination Date | 5 Special Mention | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Prior | Term Loans By Origination Date | 5 Special Mention | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Prior | Term Loans By Origination Date | 5 Special Mention | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | (482) |
Prior | Term Loans By Origination Date | 5 Special Mention | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (2,593) | 0 |
Prior | Term Loans By Origination Date | 5 Special Mention | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (11,911) | (10,440) |
Prior | Term Loans By Origination Date | 6-8 Classified | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (41,306) | (71,254) |
Prior | Term Loans By Origination Date | 6-8 Classified | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (143) | (306) |
Prior | Term Loans By Origination Date | 6-8 Classified | Commercial Real Estate Construction Loan Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | (315) |
Prior | Term Loans By Origination Date | 6-8 Classified | Residential Real Estate Construction Financing Receivable [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Prior | Term Loans By Origination Date | 6-8 Classified | Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (464) | (551) |
Prior | Term Loans By Origination Date | 6-8 Classified | Venture Capital Loans [Member] | Venture Capital Loans [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | (3,690) |
Prior | Term Loans By Origination Date | 6-8 Classified | Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (4,212) | (3,813) |
Prior | Commercial Real Estate [Member] | Term Loans By Origination Date | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (1,040,218) | (1,049,226) |
Gross Charges By Origination Year | (264) | (6,694) |
Gross Recoveries By Origination Year | (6,073) | (280) |
Allowance for Loan Loss, Net Write offs | (5,809) | 6,414 |
Prior | Commercial Real Estate [Member] | Term Loans By Origination Date | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (33,493) | (41,222) |
Prior | Commercial Real Estate [Member] | Term Loans By Origination Date | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (932,950) | (893,008) |
Prior | Commercial Real Estate [Member] | Term Loans By Origination Date | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (40,712) | (57,367) |
Prior | Commercial Real Estate [Member] | Term Loans By Origination Date | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (33,063) | (57,629) |
Prior | Residential Real Estate [Member] | Term Loans By Origination Date | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (254,652) | (202,174) |
Gross Charges By Origination Year | (55) | (51) |
Gross Recoveries By Origination Year | (357) | (327) |
Allowance for Loan Loss, Net Write offs | (302) | (276) |
Prior | Residential Real Estate [Member] | Term Loans By Origination Date | 1-2 High Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (16,703) | (9,265) |
Prior | Residential Real Estate [Member] | Term Loans By Origination Date | 3-4 Pass | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | (234,525) | (187,959) |
Prior | Residential Real Estate [Member] | Term Loans By Origination Date | 5 Special Mention | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | 0 | 0 |
Prior | Residential Real Estate [Member] | Term Loans By Origination Date | 6-8 Classified | Mortgages [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans held for investment, net | $ (3,424) | $ (4,950) |
Loans and Leases (Details 6)
Loans and Leases (Details 6) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021USD ($)contractContract | Dec. 31, 2020USD ($)contractContract | Dec. 31, 2019USD ($)Contractcontract | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 57 | 71 | 51 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 56,926 | $ 80,190 | $ 27,646 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 36,332 | $ 37,441 | $ 27,663 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract | 4 | 2 | 5 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 2,530 | $ 504 | $ 408 |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | Contract | 1 | 3 | |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 20 | $ 212 | |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 20 | $ 212 | |
Asset Based [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | contract | 2 | 8 | 5 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 1,987 | $ 17,008 | $ 3,082 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 1,987 | $ 1,741 | $ 3,082 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract | 1 | 0 | 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 464 | $ 0 | $ 0 |
Venture Capital Loans [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 5 | 2 | 14 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 4,502 | $ 2,047 | $ 19,017 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 2,529 | $ 2,047 | $ 19,155 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract | 0 | 0 | 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 0 | $ 0 | $ 0 |
Other Commercial [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | contract | 40 | 37 | 20 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 48,760 | $ 41,906 | $ 3,835 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 30,786 | $ 27,403 | $ 3,835 |
Residential Real Estate Construction Financing Receivable [Member] | Real Estate Construction [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | Contract | 1 | ||
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 208 | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 208 | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 0 | ||
Commercial Real Estate [Member] | Mortgages [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 2 | 12 | 3 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 647 | $ 17,201 | $ 121 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 0 | $ 4,222 | $ 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 1 | 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 0 | $ 412 | $ 0 |
Residential Real Estate [Member] | Mortgages [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | 6 | 9 | 9 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 802 | $ 1,816 | $ 1,591 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 802 | $ 1,816 | $ 1,591 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 1 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 0 | $ 0 | $ 254 |
Commercial Portfolio Segment [Member] | Other Commercial [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract | 3 | 1 | 4 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 2,066 | $ 92 | $ 154 |
Consumer Portfolio Segment [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | Contract | 0 | 0 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 0 | $ 0 |
Loans and Leases (Details 7)
Loans and Leases (Details 7) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Receivables [Abstract] | |||
Direct Financing Lease, Interest Income | $ 8,976 | $ 8,049 | $ 11,061 |
Loans and Leases (Details 8)
Loans and Leases (Details 8) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Receivables [Abstract] | ||
Direct Financing Lease, Lease Receivable | $ 190,025 | $ 158,740 |
Direct Financing Lease, Unguaranteed Residual Asset | 21,487 | 19,303 |
Direct Financing Lease, Deferred Selling Profit And Other | 1,373 | 996 |
Direct Financing Lease, Net Investment in Lease | $ 212,885 | $ 179,039 |
Loans and Leases (Details 9)
Loans and Leases (Details 9) $ in Thousands | Dec. 31, 2021USD ($) |
Receivables [Abstract] | |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Next Rolling Twelve Months | $ 54,831 |
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, Rolling Year Two | 46,499 |
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, Rolling Year Three | 42,154 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Rolling Year Four | 25,653 |
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, Rolling Year Five | 17,829 |
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, after Rolling Year Five | 26,423 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received | 213,389 |
Sales-type and Direct Financing Leases, Lease Receivable, Undiscounted Excess Amount | 23,364 |
Sales-type and Direct Financing Leases, Lease Receivable | $ 190,025 |
Loans and Leases (Details 10)
Loans and Leases (Details 10) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||
Loans and Leases Receivable, Allowance, beginning balance | $ 348,181 | $ 138,785 |
Allowance for Loan and Lease Losses, Write-offs | (10,715) | (93,589) |
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 12,598 | 6,368 |
Allowance for Loan and Lease Losses Write-offs, Net | 1,883 | 87,221 |
Provision for Loan and Lease Losses | (149,500) | (293,000) |
Loans and Leases Receivable, Allowance, ending balance | 200,564 | 348,181 |
Financing Receivable, Individually Evaluated for Impairment | 2,594 | 3,659 |
Financing Receivable, Collectively Evaluated for Impairment | 197,970 | 344,522 |
Financing Receivable, Individually Evaluated for Impairment | 78,390 | 133,076 |
Financing Receivable, Collectively Evaluated for Impairment | 22,863,158 | 18,950,301 |
Loans held for investment, net | 22,941,548 | 19,083,377 |
Cumulative Effect of Change in Accounting Principle - CECL | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Loans and Leases Receivable, Allowance, beginning balance | (3,617) | |
Loans and Leases Receivable, Allowance, ending balance | (3,617) | |
Previously Reported | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Loans and Leases Receivable, Allowance, beginning balance | 348,181 | |
Loans and Leases Receivable, Allowance, ending balance | 348,181 | |
Mortgages [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Loans and Leases Receivable, Allowance, beginning balance | 44,575 | |
Allowance for Loan and Lease Losses, Write-offs | (1,128) | (10,686) |
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 6,767 | 617 |
Allowance for Loan and Lease Losses Write-offs, Net | (5,639) | 10,069 |
Provision for Loan and Lease Losses | (45,928) | (98,528) |
Loans and Leases Receivable, Allowance, ending balance | 98,053 | |
Financing Receivable, Individually Evaluated for Impairment | 161 | 237 |
Financing Receivable, Collectively Evaluated for Impairment | 97,892 | 138,105 |
Financing Receivable, Individually Evaluated for Impairment | 37,030 | 50,139 |
Financing Receivable, Collectively Evaluated for Impairment | 11,141,690 | 7,849,797 |
Loans held for investment, net | 11,178,720 | 7,899,936 |
Mortgages [Member] | Cumulative Effect of Change in Accounting Principle - CECL | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Loans and Leases Receivable, Allowance, beginning balance | (5,308) | |
Loans and Leases Receivable, Allowance, ending balance | (5,308) | |
Mortgages [Member] | Previously Reported | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Loans and Leases Receivable, Allowance, beginning balance | 138,342 | |
Loans and Leases Receivable, Allowance, ending balance | 138,342 | |
Real Estate Construction [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Loans and Leases Receivable, Allowance, beginning balance | 30,544 | |
Allowance for Loan and Lease Losses, Write-offs | (782) | 0 |
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 21 |
Allowance for Loan and Lease Losses Write-offs, Net | 782 | (21) |
Provision for Loan and Lease Losses | (32,495) | (56,383) |
Loans and Leases Receivable, Allowance, ending balance | 45,079 | |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Financing Receivable, Collectively Evaluated for Impairment | 45,079 | 78,356 |
Financing Receivable, Individually Evaluated for Impairment | 10,043 | 1,766 |
Financing Receivable, Collectively Evaluated for Impairment | 3,427,084 | 3,358,515 |
Loans held for investment, net | 3,437,127 | 3,360,281 |
Real Estate Construction [Member] | Cumulative Effect of Change in Accounting Principle - CECL | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Loans and Leases Receivable, Allowance, beginning balance | 8,592 | |
Loans and Leases Receivable, Allowance, ending balance | 8,592 | |
Real Estate Construction [Member] | Previously Reported | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Loans and Leases Receivable, Allowance, beginning balance | 78,356 | |
Loans and Leases Receivable, Allowance, ending balance | 78,356 | |
Commercial Portfolio Segment [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Loans and Leases Receivable, Allowance, beginning balance | 61,528 | |
Allowance for Loan and Lease Losses, Write-offs | (7,298) | (82,105) |
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 5,711 | 5,529 |
Allowance for Loan and Lease Losses Write-offs, Net | 1,587 | 76,576 |
Provision for Loan and Lease Losses | (76,098) | (134,591) |
Loans and Leases Receivable, Allowance, ending balance | 48,718 | |
Financing Receivable, Individually Evaluated for Impairment | 2,433 | 3,422 |
Financing Receivable, Collectively Evaluated for Impairment | 46,285 | 122,981 |
Financing Receivable, Individually Evaluated for Impairment | 31,317 | 81,171 |
Financing Receivable, Collectively Evaluated for Impairment | 7,836,734 | 7,421,734 |
Loans held for investment, net | 7,868,051 | 7,502,905 |
Commercial Portfolio Segment [Member] | Cumulative Effect of Change in Accounting Principle - CECL | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Loans and Leases Receivable, Allowance, beginning balance | (6,860) | |
Loans and Leases Receivable, Allowance, ending balance | (6,860) | |
Commercial Portfolio Segment [Member] | Previously Reported | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Loans and Leases Receivable, Allowance, beginning balance | 126,403 | |
Loans and Leases Receivable, Allowance, ending balance | 126,403 | |
Consumer Portfolio Segment [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Loans and Leases Receivable, Allowance, beginning balance | 2,138 | |
Allowance for Loan and Lease Losses, Write-offs | (1,507) | (798) |
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 120 | 201 |
Allowance for Loan and Lease Losses Write-offs, Net | 1,387 | 597 |
Provision for Loan and Lease Losses | (5,021) | (3,498) |
Loans and Leases Receivable, Allowance, ending balance | 8,714 | |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Financing Receivable, Collectively Evaluated for Impairment | 8,714 | 5,080 |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 |
Financing Receivable, Collectively Evaluated for Impairment | 457,650 | 320,255 |
Loans held for investment, net | 457,650 | 320,255 |
Consumer Portfolio Segment [Member] | Cumulative Effect of Change in Accounting Principle - CECL | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Loans and Leases Receivable, Allowance, beginning balance | (41) | |
Loans and Leases Receivable, Allowance, ending balance | (41) | |
Consumer Portfolio Segment [Member] | Previously Reported | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Loans and Leases Receivable, Allowance, beginning balance | $ 5,080 | |
Loans and Leases Receivable, Allowance, ending balance | $ 5,080 |
Loans and Leases (Details 11)
Loans and Leases (Details 11) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Collateral-dependent Finance Receivable | $ 48,824 | $ 76,522 |
Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Collateral-dependent Finance Receivable | 30,817 | 43,656 |
Real Estate Construction [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Collateral-dependent Finance Receivable | 10,421 | 1,766 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Collateral-dependent Finance Receivable | 7,586 | 31,100 |
Real Estate Properties [Domain] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Collateral-dependent Finance Receivable | 41,238 | 45,422 |
Real Estate Properties [Domain] | Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Collateral-dependent Finance Receivable | 30,817 | 43,656 |
Real Estate Properties [Domain] | Real Estate Construction [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Collateral-dependent Finance Receivable | 10,421 | 1,766 |
Real Estate Properties [Domain] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Collateral-dependent Finance Receivable | 0 | 0 |
Business Assets | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Collateral-dependent Finance Receivable | 7,586 | 31,100 |
Business Assets | Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Collateral-dependent Finance Receivable | 0 | 0 |
Business Assets | Real Estate Construction [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Collateral-dependent Finance Receivable | 0 | 0 |
Business Assets | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Collateral-dependent Finance Receivable | $ 7,586 | $ 31,100 |
Loans and Leases (Details 12)
Loans and Leases (Details 12) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Loans and Leases Receivable, Allowance | $ 200,564 | $ 348,181 | $ 142,402 | $ 138,785 |
Reserve for Unfunded Loan Commitments | 73,071 | 85,571 | 39,571 | 35,861 |
Financing Receivable, Allowance for Credit Loss | 273,635 | $ 181,973 | ||
Allowance for Loan and Lease Losses, Write-offs | 10,715 | 93,589 | ||
Reserve for Unfunded Loan Commitments, Charge-offs | 0 | 0 | ||
Financing Receivable, Allowance for Credit Loss, Writeoff | 10,715 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 12,598 | |||
Allowance for Loan and Lease Losses Write-offs, Net | 1,883 | 87,221 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 12,598 | 6,368 | ||
Reserve for Unfunded Loan Commitments, Recoveries | 0 | 0 | ||
Reserve for Unfunded Loan Commitments, Net Charge-offs | 0 | 0 | ||
Financing Receivable, Allowance For Credit Losses, Net Charge-offs | 1,883 | |||
Provision for Loan and Lease Losses | (149,500) | (293,000) | ||
Provision for credit losses | (162,000) | |||
Reserve for Unfunded Commitments, Provision | $ (12,500) | (46,000) | ||
Previously Reported | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Loans and Leases Receivable, Allowance | 348,181 | |||
Reserve for Unfunded Loan Commitments | 85,571 | |||
Financing Receivable, Allowance for Credit Loss | 433,752 | |||
Cumulative Effect of Change in Accounting Principle - CECL | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Loans and Leases Receivable, Allowance | (3,617) | |||
Cumulative Effect of Change in Accounting Principle - CECL | Adjustment | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Financing Receivable, Allowance for Credit Loss | 7,327 | |||
Cumulative Effect of Change in Accounting Principle - CECL | SEC Schedule, 12-09, Allowance, Loan and Lease Loss | Adjustment | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Loans and Leases Receivable, Allowance | 3,617 | |||
Cumulative Effect of Change in Accounting Principle - CECL | Reserve For Unfunded Commitments | Adjustment | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Reserve for Unfunded Loan Commitments | 3,710 | |||
Non Purchased Credit Impaired Loans and Leases | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Loans and Leases Receivable, Allowance | 348,181 | 138,785 | ||
Financing Receivable, Allowance for Credit Loss | 433,752 | $ 174,646 | ||
Allowance for Loan and Lease Losses, Write-offs | 93,589 | |||
Financing Receivable, Allowance for Credit Loss, Writeoff | 93,589 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 6,368 | |||
Allowance for Loan and Lease Losses Write-offs, Net | (87,221) | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 6,368 | |||
Financing Receivable, Allowance For Credit Losses, Net Charge-offs | (87,221) | |||
Provision for Loan and Lease Losses | (293,000) | |||
Provision for credit losses | $ (339,000) |
Loans and Leases (Details 13)
Loans and Leases (Details 13) - USD ($) $ in Thousands | 12 Months Ended | 15 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | May 31, 2021 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 56,926 | $ 80,190 | $ 27,646 | |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 4,900 | 7,500 | ||
Financing Receivable, Nonaccrual | 61,174 | 91,163 | ||
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 36,523 | |||
Financing Receivable Recorded Investment Thirty to Eighty Nine Days Past Due | 12,232 | |||
Unfunded Commitments For Troubled Debt Restructurings | 2,000 | 900 | ||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 36,332 | 37,441 | 27,663 | |
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease) | (147,600) | |||
Loans and Leases Receivable, Gross | 23,026,308 | 19,153,357 | ||
Loans held for investment, net | 22,941,548 | 19,083,377 | ||
Proceeds from Loan Originations | $ 1,650,000 | |||
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Financing Receivable, Nonaccrual | 16,213 | 44,902 | ||
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 6,894 | |||
Financing Receivable Recorded Investment Thirty to Eighty Nine Days Past Due | 2,863 | |||
Loans and Leases Receivable, Gross | 7,888,068 | 7,534,801 | ||
Loans held for investment, net | 7,868,051 | 7,502,905 | ||
Finance Receivable, Payroll Protection Program Loan | Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Loans held for investment, net | 156,700 | |||
Asset Based [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Financing Receivable, Troubled Debt Restructuring, Premodification | 1,987 | 17,008 | 3,082 | |
Financing Receivable, Nonaccrual | 1,464 | 2,679 | ||
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 2,128 | |||
Financing Receivable Recorded Investment Thirty to Eighty Nine Days Past Due | 0 | |||
Financing Receivable, Troubled Debt Restructuring, Postmodification | 1,987 | 1,741 | $ 3,082 | |
Loans held for investment, net | 4,075,477 | 3,429,283 | ||
Credit Concentration Risk [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Financing Receivable, Nonaccrual | 14,200 | |||
Nonaccrual [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Loan Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 18,500 | 36,500 | ||
Financing Receivable Recorded Investment Thirty to Eighty Nine Days Past Due | 6,300 | 3,400 | ||
Financing Receivable Recorded Investment Nonaccrual Status Current | $ 36,400 | 51,300 | ||
Nonaccrual [Member] | Credit Concentration Risk [Member] | Financing Receivable | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Concentration Risk, Percentage | 23.00% | |||
Non Purchased Credit Impaired Loans and Leases | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Loans held for investment, net | $ 19,083,377 |
Foreclosed Assets Foreclosed _2
Foreclosed Assets Foreclosed Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Other Real Estate Owned Net | $ 12,594 | $ 13,198 | ||
Other Repossessed Assets | 249 | 829 | ||
Foreclosed assets, net | 12,843 | 14,027 | $ 440 | $ 5,299 |
Commercial Real Estate [Member] | ||||
Other Real Estate Owned Net | 12,594 | 12,979 | ||
Construction and Land Development [Member] | ||||
Other Real Estate Owned Net | $ 0 | $ 219 |
Foreclosed Assets Foreclosed _3
Foreclosed Assets Foreclosed Assets (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract] | ||||
Foreclosed assets, net | $ 12,843 | $ 14,027 | $ 440 | $ 5,299 |
Loans transferred to foreclosed assets | 1,062 | 14,755 | 120 | |
Provision for Other Real Estate Owned and Foreclosed Assets | (14) | (267) | (78) | |
Sales of Other Real Estate Owned Foreclosed Assets CORES | $ (2,232) | $ (901) | $ (4,901) |
Foreclosed Assets Foreclosed _4
Foreclosed Assets Foreclosed Assets (Details 2) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract] | ||||
Foreclosed Assets Valuation Allowance | $ 192 | $ 354 | $ 87 | $ 88 |
Provision for losses on foreclosed assets | 14 | 267 | 78 | |
Foreclosed Assets, Valuation Allowance, Reductions Related to Sales | $ (176) | $ 0 | $ (79) |
Premises and Equipment, Net (De
Premises and Equipment, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Premises and Equipment, Net [Abstract] | ||
Land | $ 1,243 | $ 1,243 |
Buildings and Improvements | 9,488 | 8,459 |
Furniture and Fixtures | 50,509 | 50,892 |
Leasehold Improvements | 66,143 | 60,622 |
Property, Plant and Equipment, Other, Gross | 6,882 | 0 |
Property, Plant and Equipment, Gross | 134,265 | 121,216 |
Accumulated Depreciation and Amortization | (87,525) | (81,982) |
Property, Plant and Equipment, Net | $ 46,740 | $ 39,234 |
Premises and Equipment, Net (_2
Premises and Equipment, Net (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Premises and Equipment, Net [Abstract] | |||
Depreciation | $ 11.1 | $ 11.5 | $ 10.5 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Oct. 08, 2021 | Feb. 01, 2021 | |
Goodwill [Line Items] | |||||
Goodwill | $ 1,405,736 | $ 1,078,670 | $ 2,548,670 | ||
Goodwill impairment | 0 | $ 1,470,000 | $ 0 | ||
Civic Acquisition | |||||
Goodwill [Line Items] | |||||
Goodwill | $ 125,448 | ||||
Goodwill, Acquired During Period | 125,448 | ||||
Homeowners Association Services Divison | |||||
Goodwill [Line Items] | |||||
Goodwill | $ 201,618 | ||||
Goodwill, Acquired During Period | $ 201,618 |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Finite-lived Intangible Assets [Roll Forward] | ||||
Balance, beginning of year | $ 109,646 | $ 117,573 | $ 119,497 | |
Balance, beginning of year | (86,005) | (79,179) | (62,377) | |
Finite-lived Intangible Assets Acquired | $ 0 | 0 | ||
Amortization expense | (12,734) | (14,753) | (18,726) | |
Fully amortized portion | (9,846) | (7,927) | (1,924) | |
Balance, end of year | 109,646 | 133,850 | 109,646 | 117,573 |
Net CDI and CRI, end of year | (86,005) | (88,893) | (86,005) | (79,179) |
Net CDI and CRI, end of year | $ 23,641 | 44,957 | 23,641 | 38,394 |
Homeowners Association Services Divison | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Finite-lived Intangible Assets Acquired | 33,300 | |||
Civic Acquisition | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Finite-lived Intangible Assets Acquired | 750 | |||
CDI and CRI [Member] | ||||
Finite-lived Intangible Assets [Roll Forward] | ||||
Fully amortized portion | $ (9,846) | $ (7,927) | $ (1,924) |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets (Details 2) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Net CDI and CRI, end of year | $ 44,957 | $ 23,641 | $ 38,394 |
Aggregate Amortization Expense 2022 | 13,575 | ||
Aggregate Amortization Expense 2023 | 9,085 | ||
Aggregate Amortization Expense 2024 | 6,404 | ||
Aggregate Amortization Expense 2025 | 4,087 | ||
Aggregate Amortization Expense 2024 | 3,482 | ||
Finite-Lived Intangible Asset, Expected Amortization, after Year Five | $ 8,324 |
Goodwill and Other Intangible_6
Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Goodwill | $ 1,405,736 | $ 1,078,670 | $ 2,548,670 |
Other Assets Other Assets (Deta
Other Assets Other Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Other Assets [Abstract] | ||
Low Income Housing Tax Credit - LIHTC | $ 297,746 | $ 213,034 |
Cash Surrender Value of Life Insurance | 203,836 | 203,031 |
Interest and fees receivable income | 120,329 | 101,596 |
Equity Investments Without Readily Determinable Fair Value | 62,975 | 34,304 |
SBIC Investments | 46,861 | 32,327 |
Income Taxes Receivable | 36,011 | 59,565 |
Equity Investments With Readily Determinable Fair Value | 28,578 | 6,147 |
Warrants and Rights Outstanding | 3,555 | 4,520 |
Prepaid Expense | 27,632 | 22,999 |
Other Assets, Miscellaneous | 133,244 | 63,016 |
Other Assets | 1,083,992 | 860,326 |
Operating Lease, Right-of-Use Asset | $ 123,225 | $ 119,787 |
Leases Leases (Details)
Leases Leases (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Leases [Abstract] | ||
Operating Lease, Cost | $ 34,541 | $ 34,393 |
Variable Lease, Cost | 59 | 51 |
Short-term Lease, Cost | 1,347 | 385 |
Sublease Income | (4,474) | (4,171) |
Lease, Cost | $ 31,473 | $ 30,658 |
Leases Leases (Details 1)
Leases Leases (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Leases [Abstract] | ||
Operating Lease, Payments | $ 36,212 | $ 33,889 |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 35,820 | $ 24,309 |
Leases Leases (Details 2)
Leases Leases (Details 2) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Leases [Abstract] | ||
Operating Lease, Right-of-Use Asset | $ 123,225 | $ 119,787 |
Operating Lease, Liability | $ 142,117 | $ 139,501 |
Operating Lease, Weighted Average Remaining Lease Term | 5 years 7 months 6 days | 5 years 9 months 18 days |
Operating Lease, Weighted Average Discount Rate, Percent | 2.23% | 2.54% |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Equipment leased to others under operating leases | Equipment leased to others under operating leases |
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] | Accrued interest payable and other liabilities | Accrued interest payable and other liabilities |
Leases Leases (Details 3)
Leases Leases (Details 3) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Leases [Abstract] | ||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 35,102 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 32,945 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 25,816 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 18,900 | |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 13,706 | |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 25,715 | |
Lessee, Operating Lease, Liability, Payments, Due | 152,184 | |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | (10,067) | |
Operating Lease, Liability | $ 142,117 | $ 139,501 |
Leases Leases (Details 4)
Leases Leases (Details 4) $ in Thousands | Dec. 31, 2021USD ($) |
Leases [Abstract] | |
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 35,102 |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 32,945 |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 25,816 |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 18,900 |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 13,706 |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 25,715 |
Lessee, Operating Lease, Liability, Payments, Due | $ 152,184 |
Leases Leases (Details 5)
Leases Leases (Details 5) $ in Thousands | Dec. 31, 2021USD ($) |
Leases [Abstract] | |
Lessor, Operating Lease, Payments to be Received, Next Twelve Months | $ 49,300 |
Lessor, Operating Lease, Payments to be Received, Two Years | 40,825 |
Lessor, Operating Lease, Payments to be Received, Three Years | 35,186 |
Lessor, Operating Lease, Payments to be Received, Four Years | 25,008 |
Lessor, Operating Lease, Payments to be Received, Five Years | 19,245 |
Lessor, Operating Lease, Payments to be Received, Thereafter | 35,172 |
Lessor, Operating Lease, Payments to be Received | $ 204,736 |
Leases Leases (Details Textuals
Leases Leases (Details Textuals) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Operating Leased Assets [Line Items] | ||
Operating Lease, Impairment Loss | $ 0 | $ 0 |
Minimum | ||
Operating Leased Assets [Line Items] | ||
Lessee, Operating Lease, Renewal Term | 1 year | |
Maximum | ||
Operating Leased Assets [Line Items] | ||
Lessee, Operating Lease, Renewal Term | 10 years |
Deposits Deposits (Details)
Deposits Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Deposits [Abstract] | ||
Interest checking | $ 7,386,269 | $ 5,999,245 |
Money market | 11,064,870 | 7,658,049 |
Savings | 630,653 | 562,826 |
Time deposits $250,000 and under | 885,938 | 994,197 |
Time deposits over $250,000 | 486,894 | 532,573 |
Total interest-bearing deposits | $ 20,454,624 | $ 15,746,890 |
Deposits Deposits (Details 1)
Deposits Deposits (Details 1) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Time Deposits Balance [Line Items] | ||
Time Deposit Maturities, Next Twelve Months | $ 1,136,869 | |
Time Deposit Maturities, Year Two | 121,741 | |
Time Deposit Maturities, Year Three | 53,402 | |
Time Deposit Maturities, Year Four | 56,613 | |
Time Deposit Maturities, Year Five | 4,178 | |
Time Deposit Maturities, after Year Five | 29 | |
Time Deposits | 1,372,832 | $ 1,526,770 |
Deposits Exceeding FDIC Insurance Limit of $250,000 [Member] | ||
Time Deposits Balance [Line Items] | ||
Time Deposit Maturities, Next Twelve Months | 473,700 | |
Time Deposit Maturities, Year Two | 10,824 | |
Time Deposit Maturities, Year Three | 505 | |
Time Deposit Maturities, Year Four | 546 | |
Time Deposit Maturities, Year Five | 1,319 | |
Time Deposit Maturities, after Year Five | 0 | |
Time Deposits | 486,894 | |
Deposits FDC Insured $250,000 and Under [Member] | ||
Time Deposits Balance [Line Items] | ||
Time Deposit Maturities, Next Twelve Months | 663,169 | |
Time Deposit Maturities, Year Two | 110,917 | |
Time Deposit Maturities, Year Three | 52,897 | |
Time Deposit Maturities, Year Four | 56,067 | |
Time Deposit Maturities, Year Five | 2,859 | |
Time Deposit Maturities, after Year Five | 29 | |
Time Deposits | $ 885,938 |
Deposits (Details Textual)
Deposits (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Deposit Liability [Line Items] | ||
Interest-bearing Domestic Deposit, Brokered | $ 889,976 | $ 1,149,467 |
Brokered Time Deposits [Member] | ||
Deposit Liability [Line Items] | ||
Interest-bearing Domestic Deposit, Brokered | 195,700 | |
Non-maturity Deposits [Member] | ||
Deposit Liability [Line Items] | ||
Interest-bearing Domestic Deposit, Brokered | $ 900,000 | $ 1,100,000 |
Borrowings and Subordinated D_3
Borrowings and Subordinated Debentures (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Borrowings | $ 0 | $ 5,000 |
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 0.00% | 0.00% |
Federal Home Loan Bank of San Francisco | ||
Debt Instrument [Line Items] | ||
Line of Credit, Current | $ 0 | $ 5,000 |
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 0.00% | 0.00% |
Federal Home Loan Bank of San Francisco | Secured Debt | ||
Debt Instrument [Line Items] | ||
Line of Credit, Current | $ 0 | $ 5,000 |
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 0.00% | 0.00% |
Federal Home Loan Bank of San Francisco | Term Advance | ||
Debt Instrument [Line Items] | ||
Line of Credit, Current | $ 0 | $ 5,000 |
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 0.00% | 0.00% |
Borrowings and Subordinated D_4
Borrowings and Subordinated Debentures (Details 1) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Line of Credit Facility [Line Items] | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 0.00% | 0.00% |
Federal Home Loan Bank of San Francisco | ||
Line of Credit Facility [Line Items] | ||
Line of Credit, Current | $ 0 | $ 5,000 |
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 0.00% | 0.00% |
Federal Home Loan Bank of San Francisco | Term Advance | ||
Line of Credit Facility [Line Items] | ||
Line of Credit, Current | $ 0 | $ 5,000 |
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 0.00% | 0.00% |
Borrowings and Subordinated D_5
Borrowings and Subordinated Debentures (Details 2) $ in Thousands, € in Millions | Apr. 30, 2021USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2021EUR (€) | Dec. 31, 2020USD ($) |
Subordinated Borrowing [Line Items] | ||||
Subordinated debt | $ 863,283 | $ 465,812 | ||
Subordinated debentures | $ 863,300 | |||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 0.00% | 0.00% | 0.00% | |
Subordinated Debentures, Gross | $ 935,728 | $ 543,275 | ||
Debt Issuance Costs, Gross | $ 5,400 | |||
Trust Preferred Securities Two Thousand Six Series Three [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Liability, Reporting Currency Denominated, Value | € | € 25.8 | |||
Subordinated notes due May 2031 | ||||
Subordinated Borrowing [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.52% | |||
April 30, 2021 Issuance | ||||
Subordinated Borrowing [Line Items] | ||||
Subordinated debentures | $ 400,000 | |||
Subordinated Borrowing, Interest Rate | 3.25% | |||
London Interbank Offered Rate (LIBOR) [Member] | Subordinated Debt Trust V Due September 2033 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 3.10% | |||
London Interbank Offered Rate (LIBOR) [Member] | Subordinated Debt Trust VI Due September 2033 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 3.05% | |||
London Interbank Offered Rate (LIBOR) [Member] | Subordinated Debt Trust CII Due September 2033 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.95% | |||
London Interbank Offered Rate (LIBOR) [Member] | Subordinated Debt Trust VII Due April 2034 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.75% | |||
London Interbank Offered Rate (LIBOR) [Member] | Subordinated Debt Trust CIII Due September 2035 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.69% | |||
London Interbank Offered Rate (LIBOR) [Member] | Subordinated Debt Trust FCCI Due March 2037 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.60% | |||
London Interbank Offered Rate (LIBOR) [Member] | Subordinated Debt Trust FCBI Due December 2035 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.55% | |||
London Interbank Offered Rate (LIBOR) [Member] | Trust Preferred Securities Two Thousand Five Series One [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.95% | |||
London Interbank Offered Rate (LIBOR) [Member] | Trust Preferred Securities Two Thousand Five Series Two [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.95% | |||
London Interbank Offered Rate (LIBOR) [Member] | Two Thousand Six One Term Debt Securitization [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.95% | |||
London Interbank Offered Rate (LIBOR) [Member] | Two Thousand Six Two Term Debt Securitization [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.95% | |||
London Interbank Offered Rate (LIBOR) [Member] | Trust Preferred Securities Two Thousand Six Series Four [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.95% | |||
London Interbank Offered Rate (LIBOR) [Member] | Trust Preferred Securities Two Thousand Six Series Five [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.95% | |||
London Interbank Offered Rate (LIBOR) [Member] | Two Thousand Seven One Term Debt Securitization [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 1.95% | |||
Euribor Rate [Member] | Trust Preferred Securities Two Thousand Six Series Three [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.05% | |||
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | April 30, 2021 Issuance | ||||
Subordinated Borrowing [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.52% | |||
Subordinated Debt | ||||
Subordinated Borrowing [Line Items] | ||||
Debt Instrument, Unamortized Discount | $ (72,445) | $ (77,463) | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 2.64% | 2.64% | 2.24% | |
Subordinated Debt | Subordinated Debt Trust V Due September 2033 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | $ 10,310 | $ 10,310 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 3.32% | 3.32% | 3.33% | |
Subordinated Debt | Subordinated Debt Trust VI Due September 2033 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | $ 10,310 | $ 10,310 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 3.25% | 3.25% | 3.27% | |
Subordinated Debt | Subordinated Debt Trust CII Due September 2033 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | $ 5,155 | $ 5,155 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 3.17% | 3.17% | 3.18% | |
Subordinated Debt | Subordinated Debt Trust VII Due April 2034 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | $ 61,856 | $ 61,856 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 2.88% | 2.88% | 2.96% | |
Subordinated Debt | Subordinated Debt Trust CIII Due September 2035 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | $ 20,619 | $ 20,619 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 1.89% | 1.89% | 1.91% | |
Subordinated Debt | Subordinated Debt Trust FCCI Due March 2037 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | $ 16,495 | $ 16,495 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 1.80% | 1.80% | 1.82% | |
Subordinated Debt | Subordinated Debt Trust FCBI Due December 2035 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | $ 10,310 | $ 10,310 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 1.75% | 1.75% | 1.77% | |
Subordinated Debt | Trust Preferred Securities Two Thousand Five Series One [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | $ 82,475 | $ 82,475 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 2.15% | 2.15% | 2.17% | |
Subordinated Debt | Trust Preferred Securities Two Thousand Five Series Two [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | $ 128,866 | $ 128,866 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 2.08% | 2.08% | 2.16% | |
Subordinated Debt | Two Thousand Six One Term Debt Securitization [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | $ 51,545 | $ 51,545 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 2.08% | 2.08% | 2.16% | |
Subordinated Debt | Two Thousand Six Two Term Debt Securitization [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | $ 51,550 | $ 51,550 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 2.08% | 2.08% | 2.16% | |
Subordinated Debt | Trust Preferred Securities Two Thousand Six Series Three [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | $ 29,306 | $ 31,487 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 1.49% | 1.49% | 1.54% | |
Subordinated Debt | Trust Preferred Securities Two Thousand Six Series Four [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | $ 16,470 | $ 16,470 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 2.08% | 2.08% | 2.16% | |
Subordinated Debt | Trust Preferred Securities Two Thousand Six Series Five [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | $ 6,650 | $ 6,650 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 2.08% | 2.08% | 2.16% | |
Subordinated Debt | Two Thousand Seven One Term Debt Securitization [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | $ 39,177 | $ 39,177 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 2.08% | 2.08% | 2.16% | |
Subordinated Debt | Subordinated notes due May 2031 | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | $ 394,634 | $ 0 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 3.25% | 3.25% | 0.00% |
Borrowings and Subordinated D_6
Borrowings and Subordinated Debentures (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Debt Instrument [Line Items] | ||
Subordinated debt | $ 863,300,000 | |
Unused lines of Credit | ||
Debt Instrument [Line Items] | ||
Line of Credit Facility, Amount Outstanding | 0 | |
Line of Credit Facility, Current Borrowing Capacity | 180,000,000 | |
Debt Instrument, Unused Borrowing Capacity, Fee | 0 | |
American Financial Exchange | ||
Debt Instrument [Line Items] | ||
Line of Credit Facility, Amount Outstanding | 0 | |
Federal Home Loan Bank of San Francisco | ||
Debt Instrument [Line Items] | ||
Loans Pledged as Collateral | 6,200,000,000 | |
Line of Credit, Current | 0 | $ 5,000,000 |
Federal Home Loan Bank of San Francisco | Secured Debt | ||
Debt Instrument [Line Items] | ||
Line of Credit Facility, Borrowing Capacity, Description | 4,000,000,000 | |
Line of Credit, Current | 0 | 5,000,000 |
Federal Home Loan Bank of San Francisco | Unused lines of Credit | ||
Debt Instrument [Line Items] | ||
Line of Credit Facility, Borrowing Capacity, Description | 112,000,000 | |
Federal Home Loan Bank of San Francisco | Unsecured Debt | ||
Debt Instrument [Line Items] | ||
Line of Credit, Current | 0 | |
Federal Reserve Bank Advances [Member] | ||
Debt Instrument [Line Items] | ||
Loans Pledged as Collateral | 1,800,000,000 | |
Line of Credit Facility, Amount Outstanding | 0 | $ 0 |
Federal Reserve Bank Advances [Member] | Secured Debt | ||
Debt Instrument [Line Items] | ||
Line of Credit Facility, Borrowing Capacity, Description | $ 1,400,000,000 |
Derivatives (Details)
Derivatives (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Derivative [Line Items] | ||
Derivative Assets, Notional Amount | $ 134,472 | $ 157,056 |
Derivative Assets | 6,064 | 8,750 |
Derivative Liabilities, Notional Amount | 115,933 | 132,975 |
Derivative Liabilities | 931 | 1,150 |
Interest rate and economic contracts | ||
Derivative [Line Items] | ||
Derivative Assets, Notional Amount | 115,933 | 132,975 |
Derivative Assets | 2,509 | 4,230 |
Interest rate contracts | ||
Derivative [Line Items] | ||
Derivative Assets, Notional Amount | 87,470 | 59,867 |
Derivative Assets | 992 | 1,028 |
Derivative Liabilities, Notional Amount | 87,470 | 59,867 |
Derivative Liabilities | 931 | 1,004 |
Foreign exchange contracts | ||
Derivative [Line Items] | ||
Derivative Assets, Notional Amount | 28,463 | 73,108 |
Derivative Assets | 1,517 | 3,202 |
Derivative Liabilities, Notional Amount | 28,463 | 73,108 |
Derivative Liabilities | 0 | 146 |
Equity warrant assets | ||
Derivative [Line Items] | ||
Derivative Assets, Notional Amount | 18,539 | 24,081 |
Derivative Assets | $ 3,555 | $ 4,520 |
Commitments and Contingencies_2
Commitments and Contingencies (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Commitments and Contingencies Disclosure [Abstract] | ||
Loan commitments to extend credit | $ 9,006,350 | $ 7,601,390 |
Standby letters of credit | 345,769 | 337,336 |
Unused Commitments to Extend Credit | $ 9,352,119 | $ 7,938,726 |
Commitments and Contingencies C
Commitments and Contingencies Commitments and Contingencies (Details 1) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Other Commitments [Line Items] | ||
Commitment To Contribute Capital to CRA Related Pool | $ 85,924 | $ 55,500 |
Less Than One Year | ||
Other Commitments [Line Items] | ||
Commitment To Contribute Capital to CRA Related Pool | 38,950 | |
More Than Twelve (12) Months but Less Than Twenty-four (24) Months | ||
Other Commitments [Line Items] | ||
Commitment To Contribute Capital to CRA Related Pool | 41,417 | |
More Than Twenty-four (24) Months but Less Than Thirty-six (36) Months | ||
Other Commitments [Line Items] | ||
Commitment To Contribute Capital to CRA Related Pool | $ 5,557 |
Commitments and Contingencies_3
Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Commitments and Contingencies Disclosure [Abstract] | ||
Commitment To Contribute Capital to CRA Related Pool | $ 85,924 | $ 55,500 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Equity Securities, FV-NI | $ 28,578 | $ 6,147 | ||
Securities available-for-sale, at fair value | 10,694,458 | 5,235,591 | ||
Fair Value, Recurring | ||||
Warrants Not Settleable in Cash, Fair Value Disclosure | 3,555 | 4,520 | ||
Derivative Liability, Fair Value of Collateral | 931 | 1,150 | ||
Securities available-for-sale, at fair value | 10,694,458 | |||
Level 1 | Fair Value, Recurring | ||||
Warrants Not Settleable in Cash, Fair Value Disclosure | 0 | 0 | ||
Derivative Liability, Fair Value of Collateral | 0 | 0 | ||
Equity Securities, FV-NI | 28,578 | 6,147 | ||
Securities available-for-sale, at fair value | 966,898 | 5,302 | ||
Level 2 | Fair Value, Recurring | ||||
Warrants Not Settleable in Cash, Fair Value Disclosure | 0 | 0 | ||
Derivative Liability, Fair Value of Collateral | 931 | 1,150 | ||
Equity Securities, FV-NI | 0 | 0 | ||
Securities available-for-sale, at fair value | 9,712,559 | 5,199,917 | ||
Level 3 | ||||
Warrants Not Settleable in Cash, Fair Value Disclosure | 4,520 | $ 3,434 | $ 4,793 | |
Level 3 | Fair Value, Recurring | ||||
Warrants Not Settleable in Cash, Fair Value Disclosure | 3,555 | 4,520 | ||
Derivative Liability, Fair Value of Collateral | 0 | 0 | ||
Equity Securities, FV-NI | 0 | 0 | ||
Securities available-for-sale, at fair value | 15,001 | 30,372 | ||
Government agency and government-sponsored enterprise pass through securities [Member] | ||||
Securities available-for-sale, at fair value | 1,688,967 | 1,281,877 | ||
Government agency and government-sponsored enterprise pass through securities [Member] | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 2,898,210 | 341,074 | ||
Government agency and government-sponsored enterprise pass through securities [Member] | Level 1 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
Government agency and government-sponsored enterprise pass through securities [Member] | Level 2 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 2,898,210 | 341,074 | ||
Government agency and government-sponsored enterprise pass through securities [Member] | Level 3 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
Municipal Securities [Member] | ||||
Securities available-for-sale, at fair value | 2,315,968 | 1,531,617 | ||
Municipal Securities [Member] | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 2,315,968 | 1,531,617 | ||
Municipal Securities [Member] | Level 1 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
Municipal Securities [Member] | Level 2 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 2,315,968 | 1,531,617 | ||
Municipal Securities [Member] | Level 3 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
Commercial Mortgage Backed Securities [Member] | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 1,688,967 | 1,281,877 | ||
Commercial Mortgage Backed Securities [Member] | Level 1 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
Commercial Mortgage Backed Securities [Member] | Level 2 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 1,688,967 | 1,281,877 | ||
Commercial Mortgage Backed Securities [Member] | Level 3 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
Government agency and government-sponsored enterprise collateralized mortgage obligations [Member] | ||||
Securities available-for-sale, at fair value | 1,038,134 | 1,219,880 | ||
Government agency and government-sponsored enterprise collateralized mortgage obligations [Member] | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 1,038,134 | 1,219,880 | ||
Government agency and government-sponsored enterprise collateralized mortgage obligations [Member] | Level 1 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
Government agency and government-sponsored enterprise collateralized mortgage obligations [Member] | Level 2 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 1,038,134 | 1,219,880 | ||
Government agency and government-sponsored enterprise collateralized mortgage obligations [Member] | Level 3 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
US Treasury Securities [Member] | ||||
Securities available-for-sale, at fair value | 966,898 | 5,302 | ||
US Treasury Securities [Member] | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 966,898 | 5,302 | ||
US Treasury Securities [Member] | Level 1 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 966,898 | 5,302 | ||
US Treasury Securities [Member] | Level 2 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
US Treasury Securities [Member] | Level 3 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
Corporate Debt Securities [Member] | ||||
Securities available-for-sale, at fair value | 527,094 | 311,889 | ||
Corporate Debt Securities [Member] | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 527,094 | 311,889 | ||
Corporate Debt Securities [Member] | Level 1 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
Corporate Debt Securities [Member] | Level 2 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 527,094 | 311,889 | ||
Corporate Debt Securities [Member] | Level 3 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
Mortgage-backed Securities, Issued by Private Enterprises | ||||
Securities available-for-sale, at fair value | 450,217 | 82,957 | ||
Mortgage-backed Securities, Issued by Private Enterprises | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 450,217 | 82,957 | ||
Mortgage-backed Securities, Issued by Private Enterprises | Level 1 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
Mortgage-backed Securities, Issued by Private Enterprises | Level 2 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 435,216 | 57,232 | ||
Mortgage-backed Securities, Issued by Private Enterprises | Level 3 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 15,001 | 25,725 | ||
Collateralized Loan Obligations [Member] | ||||
Securities available-for-sale, at fair value | 385,362 | 135,876 | ||
Collateralized Loan Obligations [Member] | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 385,362 | 135,876 | ||
Collateralized Loan Obligations [Member] | Level 1 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
Collateralized Loan Obligations [Member] | Level 2 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 385,362 | 135,876 | ||
Collateralized Loan Obligations [Member] | Level 3 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
Private Label Collateralized Mortgage Obligations [Member] | ||||
Securities available-for-sale, at fair value | 264,417 | 116,946 | ||
Private Label Collateralized Mortgage Obligations [Member] | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 264,417 | 116,946 | ||
Private Label Collateralized Mortgage Obligations [Member] | Level 1 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
Private Label Collateralized Mortgage Obligations [Member] | Level 2 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 264,417 | 112,299 | ||
Private Label Collateralized Mortgage Obligations [Member] | Level 3 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 4,647 | ||
Asset-backed Securities [Member] | ||||
Securities available-for-sale, at fair value | 129,547 | 166,546 | ||
Asset-backed Securities [Member] | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 129,547 | 166,546 | ||
Asset-backed Securities [Member] | Level 1 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
Asset-backed Securities [Member] | Level 2 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 129,547 | 166,546 | ||
Asset-backed Securities [Member] | Level 3 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
SBA asset-backed securities [Member] | ||||
Securities available-for-sale, at fair value | 29,644 | 41,627 | ||
SBA asset-backed securities [Member] | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 29,644 | 41,627 | ||
SBA asset-backed securities [Member] | Level 1 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 0 | 0 | ||
SBA asset-backed securities [Member] | Level 2 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | 29,644 | 41,627 | ||
SBA asset-backed securities [Member] | Level 3 | Fair Value, Recurring | ||||
Securities available-for-sale, at fair value | $ 0 | $ 0 |
Fair Value Measurements (Deta_2
Fair Value Measurements (Details 1) - Level 3 - Fair Value, Recurring | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Minimum | Asset-backed Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.030 | |
Minimum | Warrant [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Equity Warrants, Measurement Input, Remaining Life | 29 days | |
Maximum | Asset-backed Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.034 | |
Maximum | Warrant [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Equity Warrants, Measurement Input, Remaining Life | 4 years 11 months 26 days | |
Weighted Average [Member] | Warrant [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Equity Warrants, Measurement Input, Remaining Life | 3 years | |
Measurement Input, Price Volatility [Member] | Minimum | Warrant [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Equity Warrants, Measurement Input | 0.210 | |
Measurement Input, Price Volatility [Member] | Maximum | Warrant [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Equity Warrants, Measurement Input | 1.399 | |
Measurement Input, Price Volatility [Member] | Weighted Average [Member] | Warrant [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Equity Warrants, Measurement Input | 0.286 | |
Measurement Input, Prepayment Rate [Member] | Minimum | Asset-backed Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.100 | |
Measurement Input, Prepayment Rate [Member] | Maximum | Asset-backed Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.150 | |
Measurement Input, Prepayment Rate [Member] | Weighted Average [Member] | Asset-backed Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.121 | |
Measurement Input, Default Rate [Member] | Private Label CMOs | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair Value Inputs, Prepayment Rate (Deprecated 2018-01-31) | 0.020 | |
Measurement Input, Default Rate [Member] | Weighted Average [Member] | Asset-backed Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.020 | |
Measurement Input, Loss Severity [Member] | Private Label CMOs | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair Value Inputs, Prepayment Rate (Deprecated 2018-01-31) | 0.600 | |
Measurement Input, Loss Severity [Member] | Weighted Average [Member] | Asset-backed Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.600 | |
Measurement Input, Discount Rate | Weighted Average [Member] | Asset-backed Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.033 | |
Measurement Input, Risk Free Interest Rate [Member] | Minimum | Warrant [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Equity Warrants, Measurement Input | 0.001 | |
Measurement Input, Risk Free Interest Rate [Member] | Maximum | Warrant [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Equity Warrants, Measurement Input | 0.013 | |
Measurement Input, Risk Free Interest Rate [Member] | Weighted Average [Member] | Warrant [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Equity Warrants, Measurement Input | 0.009 |
Fair Value Measurements (Deta_3
Fair Value Measurements (Details 2) - Fair Value, Recurring - Level 3 - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Covered Private Label Collateralized Mortgage Obligations Member [Domain] | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | $ 2,287 | $ 485 | $ 432 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value, beginning balance | 4,647 | 6,264 | 7,288 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | (1,094) | (592) | (265) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales | (2,903) | 0 | 0 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (2,937) | (1,510) | (1,191) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value, ending balance | 0 | 4,647 | 6,264 |
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) | 0 | ||
Other securities | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | (77) | 5 | (77) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value, beginning balance | 25,725 | 16,435 | 39,945 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | (115) | (41) | 463 |
Stock and Warrants Purchases During Period | 0 | 20,100 | 0 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | (10,532) | (10,774) | (23,896) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value, ending balance | 15,001 | $ 25,725 | $ 16,435 |
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) | $ 41 |
Fair Value Measurements (Deta_4
Fair Value Measurements (Details 3) - Level 3 - Other securities - Fair Value, Recurring - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | $ 15,001 | $ 25,725 | $ 16,435 | $ 39,945 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | (77) | 5 | (77) | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | (115) | (41) | 463 | |
Stock and Warrants Purchases During Period | 0 | 20,100 | 0 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | 10,532 | $ 10,774 | $ 23,896 | |
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) | $ 41 |
Fair Value Measurements (Deta_5
Fair Value Measurements (Details 4) - Level 3 - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Gain on Sale of Investments | $ 49,341 | $ 10,609 | $ 8,669 | |
Proceeds from Issuance of Warrants | (50,092) | (9,828) | (10,239) | |
Stock and Warrants Issued During Period, Value, Preferred Stock and Warrants | 432 | 424 | 324 | |
Equity Warrants Transfers to Available For Sale Securities | $ (646) | (119) | 113 | |
Warrants Not Settleable in Cash, Fair Value Disclosure | $ 4,520 | $ 3,434 | $ 4,793 |
Fair Value Measurements (Deta_6
Fair Value Measurements (Details 5) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | $ 23,461,156 | |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 23,458,241 | |
Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 30,882 | $ 102,274 |
Fair Value, Nonrecurring [Member] | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Fair Value, Nonrecurring [Member] | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 2,915 | 4,160 |
Fair Value, Nonrecurring [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 27,967 | 98,114 |
Non Purchased Credit Impaired Loans and Leases | Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 30,882 | 102,274 |
Non Purchased Credit Impaired Loans and Leases | Fair Value, Nonrecurring [Member] | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 0 | 0 |
Non Purchased Credit Impaired Loans and Leases | Fair Value, Nonrecurring [Member] | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 2,915 | 4,160 |
Non Purchased Credit Impaired Loans and Leases | Fair Value, Nonrecurring [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | $ 27,967 | $ 98,114 |
Fair Value Measurements (Deta_7
Fair Value Measurements (Details 6) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total Net Gain (Loss) from Nonrecurring Assets | $ 5,786 | $ 24,874 | $ 6,875 |
Other real estate and foreclosed assets | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total Net Gain (Loss) from Nonrecurring Assets | 14 | 267 | 78 |
Non Purchased Credit Impaired Loans and Leases | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total Net Gain (Loss) from Nonrecurring Assets | $ 5,772 | $ 24,607 | $ 6,797 |
Fair Value Measurements (Deta_8
Fair Value Measurements (Details 7) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Gain on Sale of Investments | $ 49,341 | $ 10,609 | $ 8,669 |
Fair Value, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 30,882 | 102,274 | |
Fair Value, Nonrecurring [Member] | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 27,967 | 98,114 | |
Non Purchased Credit Impaired Loans and Leases | Fair Value, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 30,882 | 102,274 | |
Non Purchased Credit Impaired Loans and Leases | Fair Value, Nonrecurring [Member] | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | 27,967 | $ 98,114 | |
Discount Rates [Member] | Discounted Cash Flow [Member] | Fair Value, Nonrecurring [Member] | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | $ 15,426 | ||
Discount Rates [Member] | Minimum | Discounted Cash Flow [Member] | Non Purchased Credit Impaired Loans and Leases | Fair Value, Nonrecurring [Member] | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Loans, Measurement Input | 0 | ||
Discount Rates [Member] | Maximum | Discounted Cash Flow [Member] | Non Purchased Credit Impaired Loans and Leases | Fair Value, Nonrecurring [Member] | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Loans, Measurement Input | 0.0925 | ||
No Discounts [Member] | Third party appraisals [Member] | Fair Value, Nonrecurring [Member] | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure | $ 12,541 | ||
Measurement Input, Discount Rate | Discount Rates [Member] | Weighted Average [Member] | Discounted Cash Flow [Member] | Non Purchased Credit Impaired Loans and Leases | Fair Value, Nonrecurring [Member] | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired Loans, Measurement Input | 0.0646 |
Fair Value Measurements (Deta_9
Fair Value Measurements (Details 8) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and due from banks | $ 112,548 | $ 150,464 | ||
Interest-earning deposits in financial institutions | 3,944,686 | 3,010,197 | ||
Securities available-for-sale, at fair value | 10,694,458 | |||
Federal Home Loan Bank stock, at cost | 17,250 | 17,250 | ||
Investment in Federal Home Loan Bank Stock, Fair Value Disclosure | 17,250 | 17,250 | ||
Loans and leases, net | 22,740,984 | 18,735,196 | ||
Loans Receivable, Fair Value Disclosure | 23,461,156 | |||
Warrants and Rights Outstanding | 4,520 | |||
Derivative Assets | 6,064 | 8,750 | ||
Equity Securities, FV-NI | 28,578 | 6,147 | ||
Deposits, Savings Deposits | 32,734,949 | 22,264,480 | ||
Interest-bearing Domestic Deposit, Brokered | 889,976 | 1,149,467 | ||
Time Deposits | 1,372,832 | 1,526,770 | ||
Deposits, Fair Value Disclosure | 1,371,527 | 1,527,639 | ||
Borrowings | 0 | 5,000 | ||
Long-term Debt, Fair Value | 0 | 4,995 | ||
Subordinated debt | 863,283 | 465,812 | ||
Subordinated Debt Obligations, Fair Value Disclosure | 917,342 | 448,036 | ||
Derivative Liabilities | 931 | 1,150 | ||
Servicing Rights | 1,228 | |||
Securities available-for-sale, at fair value | 10,694,458 | 5,235,591 | ||
Interest rate and economic contracts | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Derivative Assets | 2,509 | 4,230 | ||
Level 1 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and due from banks | 112,548 | 150,464 | ||
Interest-earning deposits in financial institutions | 3,944,686 | 3,010,197 | ||
Investment in Federal Home Loan Bank Stock, Fair Value Disclosure | 0 | 0 | ||
Deposits, Savings Deposits | 0 | 0 | ||
Interest-bearing Domestic Deposit, Brokered | 0 | 0 | ||
Deposits, Fair Value Disclosure | 0 | 0 | ||
Long-term Debt, Fair Value | 0 | 0 | ||
Subordinated Debt Obligations, Fair Value Disclosure | 0 | 0 | ||
Level 2 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and due from banks | 0 | 0 | ||
Interest-earning deposits in financial institutions | 0 | 0 | ||
Investment in Federal Home Loan Bank Stock, Fair Value Disclosure | 17,250 | 17,250 | ||
Deposits, Savings Deposits | 32,734,949 | 22,264,480 | ||
Interest-bearing Domestic Deposit, Brokered | 889,976 | 1,149,467 | ||
Deposits, Fair Value Disclosure | 1,371,527 | 1,527,639 | ||
Long-term Debt, Fair Value | 0 | 4,995 | ||
Subordinated Debt Obligations, Fair Value Disclosure | 917,342 | 448,036 | ||
Level 3 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and due from banks | 0 | 0 | ||
Interest-earning deposits in financial institutions | 0 | 0 | ||
Investment in Federal Home Loan Bank Stock, Fair Value Disclosure | 0 | 0 | ||
Loans Receivable, Fair Value Disclosure | 23,458,241 | |||
Warrants Not Settleable in Cash, Fair Value Disclosure | 4,520 | $ 3,434 | $ 4,793 | |
Deposits, Savings Deposits | 0 | 0 | ||
Interest-bearing Domestic Deposit, Brokered | 0 | 0 | ||
Deposits, Fair Value Disclosure | 0 | 0 | ||
Long-term Debt, Fair Value | 0 | 0 | ||
Subordinated Debt Obligations, Fair Value Disclosure | 0 | 0 | ||
NonPCI and PCI Loans [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Loans Receivable, Fair Value Disclosure | 19,305,998 | |||
NonPCI and PCI Loans [Member] | Level 1 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | ||
NonPCI and PCI Loans [Member] | Level 2 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Loans Receivable, Fair Value Disclosure | 2,915 | 4,160 | ||
NonPCI and PCI Loans [Member] | Level 3 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Loans Receivable, Fair Value Disclosure | 19,301,838 | |||
Fair Value, Recurring | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Warrants Not Settleable in Cash, Fair Value Disclosure | 3,555 | 4,520 | ||
Derivative Liability, Fair Value of Collateral | 931 | 1,150 | ||
Securities available-for-sale, at fair value | 10,694,458 | |||
Fair Value, Recurring | Interest rate and economic contracts | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Derivative Asset, Fair Value of Collateral | 2,509 | 4,230 | ||
Fair Value, Recurring | Level 1 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Equity Securities, FV-NI | 28,578 | 6,147 | ||
Warrants Not Settleable in Cash, Fair Value Disclosure | 0 | 0 | ||
Derivative Liability, Fair Value of Collateral | 0 | 0 | ||
Servicing Rights | 0 | |||
Securities available-for-sale, at fair value | 966,898 | 5,302 | ||
Fair Value, Recurring | Level 1 | Interest rate and economic contracts | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Derivative Asset, Fair Value of Collateral | 0 | 0 | ||
Fair Value, Recurring | Level 2 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Equity Securities, FV-NI | 0 | 0 | ||
Warrants Not Settleable in Cash, Fair Value Disclosure | 0 | 0 | ||
Derivative Liability, Fair Value of Collateral | 931 | 1,150 | ||
Servicing Rights | 0 | |||
Securities available-for-sale, at fair value | 9,712,559 | 5,199,917 | ||
Fair Value, Recurring | Level 2 | Interest rate and economic contracts | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Derivative Asset, Fair Value of Collateral | 2,509 | 4,230 | ||
Fair Value, Recurring | Level 3 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Equity Securities, FV-NI | 0 | 0 | ||
Warrants Not Settleable in Cash, Fair Value Disclosure | 3,555 | 4,520 | ||
Derivative Liability, Fair Value of Collateral | 0 | 0 | ||
Servicing Rights | 1,228 | |||
Securities available-for-sale, at fair value | 15,001 | 30,372 | ||
Fair Value, Recurring | Level 3 | Interest rate and economic contracts | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Derivative Asset, Fair Value of Collateral | $ 0 | $ 0 |
Fair Value Measurements (Det_10
Fair Value Measurements (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
SBIC Investments | $ 46,861,000 | $ 32,327,000 | |
Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Equity Warrants Transfers to Available For Sale Securities | 646,000 | 119,000 | $ (113,000) |
Warrant [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | $ 646,000 | $ 119,000 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
Federal | $ 131,559 | $ 78,161 | $ 113,807 |
Current State and Local Tax Expense | 54,744 | 27,530 | 34,575 |
Current Income Tax Expense | 186,303 | 105,691 | 148,382 |
Deferred Federal Income Tax Expense | 15,799 | (28,740) | 5,062 |
Deferred State and Local Income Tax Expense | 13,273 | (1,778) | 10,860 |
Deferred Income Tax Expense (Benefit) | 29,072 | (30,518) | 15,922 |
Income Tax Expense (Benefit), Continuing Operations, Discontinued Operations | $ 215,375 | $ 75,173 | $ 164,304 |
Income Taxes (Details 1)
Income Taxes (Details 1) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | $ 172,690 | $ (244,104) | $ 132,917 |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount | 55,682 | (77,934) | 43,575 |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Amount | 0 | 407,232 | 0 |
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount | (12,312) | (5,202) | (8,092) |
Income Tax Reconciliation Change In Cash Surrender Value Of Life Insurance | (1,367) | (1,309) | (1,298) |
Income Tax Credits and Adjustments | (6,430) | (4,605) | (3,217) |
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Payment Arrangement, Amount | 4,660 | 2,830 | 4,430 |
Nondeductible FDIC Insurance Premiums | 2,535 | 2,383 | 1,302 |
Deferred Tax Assets, Tax Deferred Expense | (860) | (187) | 941 |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | (16,201) | (5,288) | (32,036) |
Deferred Tax Asset, Capital Loss Carryforward, Expired | 0 | 0 | 3,136 |
Effective Income Tax Rate Reconciliation, State Income Tax Refunds, Amount | 0 | (2,554) | 0 |
Effective Income Tax Rate Reconciliation, Tax Settlement, State and Local, Amount | 16,330 | 4,217 | 19,138 |
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount | 648 | (306) | 3,508 |
Income Tax Expense (Benefit), Continuing Operations, Discontinued Operations | $ 215,375 | $ 75,173 | $ 164,304 |
Income Taxes (Details 2)
Income Taxes (Details 2) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Income Tax Disclosure [Abstract] | ||
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Provision for Loan Losses | $ 76,384 | $ 122,753 |
Interest on nonaccrual loans | 3,150 | 3,335 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Compensation | 5,209 | 5,298 |
Deferred tax assets, unrealized losses on other real estate owned | 289 | 334 |
Deferred Tax Assets, State Taxes | 6,768 | 3,108 |
Deferred Tax Assets, Operating Loss Carryforwards | 19,646 | 34,658 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | 29,057 | 20,477 |
Unrealized Loss From FDIC Assisted Acquisitions | 886 | 1,310 |
Deferred Tax Assets, Investments | 6,543 | 2,155 |
Deferred Tax Assets, Equity Method Investments | 0 | 2,115 |
Deferred Tax Assets, Goodwill and Intangible Assets | 0 | 451 |
Tax Credit Carryforward, Deferred Tax Asset | 0 | 2,232 |
Lease liability | 39,095 | 38,521 |
Deferred Tax Assets, Gross | 187,027 | 236,747 |
Deferred Tax Assets, Valuation Allowance | (24,882) | (41,083) |
Deferred Tax Assets, Net of Valuation Allowance | 162,145 | 195,664 |
Deferred Tax Liabilities, Goodwill and Intangible Assets | 1,746 | 5,877 |
Deferred Tax Liabilities, Tax Deferred Income | 2,337 | 3,763 |
Deferred Tax Liabilities, Other Comprehensive Income | 24,972 | 66,098 |
Deferred Tax Liabilities, Property, Plant and Equipment | 1,466 | 3,120 |
Deferred Tax Liabilities, Regulatory Assets | 613 | 637 |
Deferred Tax Liabilities, Subordinated Debt | 17,110 | 18,639 |
Deferred Tax Liabilities, Investment in Noncontrolled Affiliates | 5,475 | 0 |
Deferred Tax Liabilities, Goodwill | 6,166 | 0 |
Deferred Tax Liabilities, Leasing Arrangements | 86,000 | 95,026 |
ROU assets | 34,129 | 33,345 |
Deferred Tax Liabilities, Other | 1,712 | 794 |
Deferred Tax Liabilities, Gross | 181,726 | 227,299 |
Deferred Tax Asset (Liability) | $ (19,581) | $ (31,635) |
Income Taxes (Details 3)
Income Taxes (Details 3) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | ||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 2,555 | $ 3,376 |
Reconciliation of Unrecognized Tax Benefits [Roll Forward] | ||
Balance, beginning of year | 3,376 | 10,748 |
Increase based on tax positions related to prior years | 0 | 879 |
Reductions for tax positions related to prior years | (698) | (7,813) |
Reductions for tax positions as a result of a lapse of the applicable statute of limitations | (123) | (438) |
Balance, end of year | $ 2,555 | $ 3,376 |
Income Taxes (Details Textual)
Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent | 21.00% | 21.00% | 21.00% |
Unused Federal operating loss carryforwards | $ 0 | ||
Unused State operating loss carryforwards | 314,400 | ||
Deferred Tax Assets, Tax Credit Carryforwards, Foreign | 0 | ||
Taxes Payable, Current | 36,300 | $ 59,300 | |
Deferred Tax Assets, Valuation Allowance | 24,882 | 41,083 | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 16,200 | ||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | 2,100 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 200 | 200 | $ 700 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 1,100 | 1,300 | |
LIHTC Investments | |||
Other Tax Expense (Benefit) | 33,600 | 28,100 | 20,000 |
Income Tax Expense [Member] | LIHTC Investments | |||
Amortization | 27,100 | $ 23,500 | $ 16,700 |
Foreign Tax Credit [Member] | |||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 1,900 | ||
Expires 2018 [Member] | |||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 14,300 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |||
Net earnings (loss) | $ 606,959 | $ (1,237,574) | $ 468,636 |
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic | (10,248) | (1,782) | (5,182) |
Net Income (Loss) Available to Common Stockholders, Basic | $ 596,711 | $ (1,239,356) | $ 463,454 |
Weighted-average basic shares and unvested restricted stock outstanding | 119,349 | 118,463 | 120,468 |
Less: weighted-average unvested restricted stock outstanding | (2,255) | (1,610) | (1,502) |
Weighted-average basic shares outstanding | 117,094 | 116,853 | 118,966 |
Basic income per share (usd per share) | $ 5.10 | $ (10.61) | $ 3.90 |
Net earnings (loss) allocated to common shares | $ 596,711 | $ (1,239,356) | $ 463,454 |
Diluted income per share (usd per share) | $ 5.10 | $ (10.61) | $ 3.90 |
Revenue From Contracts With C_3
Revenue From Contracts With Customers Revenue From Contracts With Customers (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue From Contracts With Customers [Line Items] | |||
Total interest income | $ 1,158,729 | $ 1,103,491 | $ 1,219,893 |
Gain on sale of loans and leases | 1,733 | 2,139 | 1,114 |
Gain on sale of securities | 1,615 | 13,171 | 25,445 |
Service charges on deposit accounts | 24,843 | 25,763 | 35,470 |
Other commissions and fees | 42,287 | 40,347 | 43,623 |
Leased equipment income | 45,746 | 43,628 | 38,727 |
Service charges on deposit accounts | 13,269 | 10,351 | 14,637 |
Other income | 16,821 | 10,831 | 10,914 |
Total noninterest income | 193,927 | 146,060 | 142,562 |
Total Income | 1,352,656 | 1,249,551 | 1,362,455 |
Dividends and gains (losses) on equity investments | 23,115 | 14,984 | (567) |
Warrant income | 49,341 | 10,609 | 8,669 |
Interest [Member] | |||
Revenue From Contracts With Customers [Line Items] | |||
Service charges on deposit accounts | 0 | 0 | 0 |
Service Charges On Deposit Accounts | |||
Revenue From Contracts With Customers [Line Items] | |||
Service charges on deposit accounts | 13,269 | 10,351 | 14,637 |
Other Commissions And Fees | |||
Revenue From Contracts With Customers [Line Items] | |||
Service charges on deposit accounts | 11,018 | 13,412 | 19,216 |
Lease Equipment Income [Member] | |||
Revenue From Contracts With Customers [Line Items] | |||
Service charges on deposit accounts | 0 | 0 | 0 |
Gain On Sale Of Loans [Member] | |||
Revenue From Contracts With Customers [Line Items] | |||
Service charges on deposit accounts | 0 | 0 | 0 |
Gain On Sale Of Securities [Member] | |||
Revenue From Contracts With Customers [Line Items] | |||
Service charges on deposit accounts | 0 | 0 | 0 |
Other [Member] | |||
Revenue From Contracts With Customers [Line Items] | |||
Service charges on deposit accounts | 556 | 2,000 | 1,617 |
Noninterest Income [Member] | |||
Revenue From Contracts With Customers [Line Items] | |||
Service charges on deposit accounts | 24,843 | 25,763 | 35,470 |
Dividends and Gains (Losses) on Equity Investments | |||
Revenue From Contracts With Customers [Line Items] | |||
Service charges on deposit accounts | 0 | 0 | 0 |
Warranty Income | |||
Revenue From Contracts With Customers [Line Items] | |||
Service charges on deposit accounts | $ 0 | $ 0 | $ 0 |
Revenue From Contracts With C_4
Revenue From Contracts With Customers Revenue From Contracts With Customers (Details 1) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue From Contracts With Customers [Abstract] | |||
Revenue, Performance Obligation Satisfied At Point In Time | $ 11,713 | $ 14,190 | $ 19,253 |
Product and Services Transferred Over Time | 13,130 | 11,573 | 16,217 |
Service charges on deposit accounts | $ 24,843 | $ 25,763 | $ 35,470 |
Revenue From Contracts With C_5
Revenue From Contracts With Customers Revenue From Contracts With Customers (Details 2) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue From Contracts With Customers [Abstract] | ||
Contract With Customer, Receivable Reclassified to Other Assets | $ 1,066 | $ 1,046 |
Contract with Customer, Asset, Reclassified to Receivable | 0 | 0 |
Contract With Customer, Liabilities Reclassified to Other Assets | $ 229 | $ 359 |
Revenue From Contracts With C_6
Revenue From Contracts With Customers Revenue From Contracts With Customers (Details Textuals) | Dec. 31, 2020USD ($) |
Revenue From Contracts With Customers [Abstract] | |
Contract with Customer, Liability | $ 130,000 |
Stock-Based Compensation Stoc_2
Stock-Based Compensation Stock-Based Compensation (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Shares | |||
Beginning balance | 1,608,126 | ||
Granted | 1,433,698 | ||
Shares vesting | 622,572 | ||
Forfeited | 107,172 | ||
Ending balance | 2,312,080 | 1,608,126 | |
(Per Share) | |||
Beginning balance | $ 32.83 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | 37.65 | $ 20.84 | $ 38.66 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value | 37.96 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | 37.80 | ||
Ending balance | $ 34.21 | $ 32.83 | |
PRSU | |||
Shares | |||
Beginning balance | 315,008 | ||
Granted | 324,351 | ||
Shares vesting | 22,320 | ||
Forfeited | 104,176 | ||
Ending balance | 512,863 | 315,008 | |
(Per Share) | |||
Beginning balance | $ 42.77 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | 32.19 | $ 36.20 | $ 40.39 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value | 54.07 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | 49 | ||
Ending balance | $ 34.32 | $ 42.77 |
Stock-Based Compensation Stoc_3
Stock-Based Compensation Stock-Based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Payment Arrangement, Expense, Tax Benefit | $ 6,000 | $ 5,800 | $ 6,800 |
Vesting period of time-based restricted stock, lower limit | 3 years | ||
Vesting period of time-based restricted stock, higher limit | 4 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 26,700 | $ 13,100 | $ 18,100 |
Equity Instruments Other than Options, Nonvested, Number | 2,312,080 | 1,608,126 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 37.65 | $ 20.84 | $ 38.66 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 800 | $ 2,700 | $ 5,600 |
Share-based Compensation Arrangement by Share-based Payment Award, Performance Period | 3 years | ||
Share-Based Compensation Arrangement By Share-based Payment Award, Performance Target, Minimum | 0.00% | ||
Granted | 1,433,698 | ||
Director | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 42.59 | ||
Granted | 20,173 | ||
Restricted Stock-Based Compensation | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Employee Benefits and Share-based Compensation | $ 859 | 627 | 598 |
Restricted Stock [Member] | Vesting Based On Service [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Payment Arrangement, Expense | 31,400 | $ 23,700 | $ 26,200 |
Restricted Stock Awards And Performance Based Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 69,000 | ||
PRSU | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Equity Instruments Other than Options, Nonvested, Number | 512,863 | 315,008 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 32.19 | $ 36.20 | $ 40.39 |
Granted | 324,351 | ||
PacWest 2003 Stock Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 4,000,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 3,014,995 | ||
PacWest 2003 Stock Incentive Plan [Member] | Time-Based Restricted Stock Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Equity Instruments Other than Options, Nonvested, Number | 2,312,080 | ||
PacWest 2017 Total Amended and Restated Stock Incentive Plan | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 6,650,000 | ||
PacWest 2017 Amended Stock Incentive Plan | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 2,650,000 | ||
Outstanding at Year-End [Member] | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 1 year 6 months | ||
Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-Based Compensation Arrangement By Share-based Payment Award, Performance Target, Maxium | 150.00% | ||
Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-Based Compensation Arrangement By Share-based Payment Award, Performance Target, Maxium | 200.00% |
Benefit Plans Benefit Plans (De
Benefit Plans Benefit Plans (Details Textual) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021USD ($)yr | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Benefit Plans [Abstract] | |||
Minimum Hours Of Work Required By Participants | 1,000 | ||
Minimum Age Of Work Required By Participants | yr | 18 | ||
Maximum Annual Contributions Per Employee, Percent | 60.00% | ||
Cost Recognized | $ | $ 5.7 | $ 4.6 | $ 4.1 |
Stockholders' Equity Shareholde
Stockholders' Equity Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Stockholders' Equity Attributable to Parent [Abstract] | |||
Stock Repurchased and Retired During Period, Value | $ 0 | $ 70,000 | $ 154,516 |
Stock Repurchased and Retired During Period, Shares | 0 | 1,953,711 | 3,987,945 |
Stock Repurchase and Retired During Period, Weighted Average Price | $ 0 | $ 35.83 | $ 38.75 |
Stockholders' Equity (Details T
Stockholders' Equity (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Feb. 12, 2020 | |
Stockholders' Equity Attributable to Parent [Abstract] | ||||
Treasury Shares Surrendered | $ 8,505,000 | $ 5,369,000 | $ 8,449,000 | |
Treasury Stock, Shares, Acquired | 199,018 | 213,578 | 218,531 | |
Treasury Stock Acquired, Average Cost Per Share | $ 42.73 | $ 25.14 | $ 38.66 | |
Stock Repurchase Program, Authorized Amount | $ 200,000,000 |
Dividend Availability and Reg_3
Dividend Availability and Regulatory Matters Dividend Availability and Regulatory Matters (Details) $ in Thousands | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier One Leverage Capital | $ 2,657,575 | $ 2,403,721 |
Tier One Leverage Capital to Average Assets | 0.0684 | 0.0855 |
Tier One Leverage Capital Required to be Well Capitalized | $ 1,942,017 | $ 1,404,880 |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 0.050 | 0.0500 |
Tier One Risk Based Common Equity | $ 2,526,575 | $ 2,403,721 |
Tier One Risk Based Common Equity to Risk Weighted Assets | 8.86% | 10.53% |
Tier One Risk Based Common Equity Required to be Well Capitalized | $ 1,853,073 | $ 1,484,450 |
Tier One Risk Based Common Equity Required to be Well Capitalized to Risk Weighted Assets | 6.50% | 6.50% |
Tier One Risk Based Common Equity Required to be Well Capitalized to Risk Weighted Assets Capital Conservation Buffer | 7.00% | 7.00% |
Tier One Risk Based Capital | $ 2,657,575 | $ 2,403,721 |
Tier One Risk Based Capital to Risk Weighted Assets | 0.0932 | 0.1053 |
Tier One Risk Based Capital Required to be Well Capitalized | $ 2,280,705 | $ 1,827,015 |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 0.0800 | 0.0800 |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets Capital Conservation Buffer | 8.50% | 8.50% |
Capital | $ 3,619,190 | $ 3,141,992 |
Capital to Risk Weighted Assets | 0.1269 | 0.1376 |
Capital Required to be Well Capitalized | $ 2,850,881 | $ 2,283,769 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 0.1000 | 0.1000 |
Capital Required to be Well Capitalized to Risk Weighted Assets Capital Conservation Buffer | 10.50% | 10.50% |
Pacific Western Bank | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier One Leverage Capital | $ 2,717,374 | $ 2,673,960 |
Tier One Leverage Capital to Average Assets | 0.0700 | 0.0953 |
Tier One Leverage Capital Required to be Well Capitalized | $ 1,940,510 | $ 1,403,208 |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 0.0500 | |
Tier One Risk Based Common Equity | $ 2,717,374 | $ 2,673,960 |
Tier One Risk Based Common Equity to Risk Weighted Assets | 9.56% | 11.73% |
Tier One Risk Based Common Equity Required to be Well Capitalized | $ 1,847,853 | $ 1,481,599 |
Tier One Risk Based Common Equity Required to be Well Capitalized to Risk Weighted Assets | 6.50% | |
Tier One Risk Based Common Equity Required to be Well Capitalized to Risk Weighted Assets Capital Conservation Buffer | 7.00% | 7.00% |
Tier One Risk Based Capital | $ 2,717,374 | $ 2,673,960 |
Tier One Risk Based Capital to Risk Weighted Assets | 0.0956 | 0.1173 |
Tier One Risk Based Capital Required to be Well Capitalized | $ 2,274,281 | $ 1,823,506 |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 0.0800 | |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets Capital Conservation Buffer | 8.50% | 8.50% |
Capital | $ 3,355,403 | $ 2,959,853 |
Capital to Risk Weighted Assets | 0.1180 | 0.1299 |
Capital Required to be Well Capitalized | $ 2,842,851 | $ 2,279,383 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 0.1000 | |
Capital Required to be Well Capitalized to Risk Weighted Assets Capital Conservation Buffer | 10.50% | 10.50% |
Dividend Availability and Reg_4
Dividend Availability and Regulatory Matters Dividend Availability and Regulatory Matters (Details Textual) | Apr. 30, 2021USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2020USD ($) |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | |||||
Proceeds from Dividends Received | $ 182,000,000 | ||||
Retained earnings | 1,016,350,000 | $ 409,391,000 | $ 409,391,000 | ||
Deferred Tax Assets, Regulatory Assets and Liabilities | $ 10,000 | ||||
Capital Required for Capital Adequacy to Risk Weighted Assets | 0.080 | ||||
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 0.060 | ||||
Capital Required to be Well Capitalized to Risk Weighted Assets | 0.1000 | 0.1000 | 0.1000 | ||
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 0.0800 | 0.0800 | 0.0800 | ||
Tier One Risk Based Capital Required to be Well Capitalized | 6.50% | 6.50% | 6.50% | ||
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 0.050 | 0.0500 | 0.0500 | ||
Common Equity Tier One Capital Ratio | 0.045 | ||||
Supplementary Leverage Ratio | 0.040 | ||||
Subordinated debt | $ 863,300,000 | ||||
Tier One Capital, Trust Preferred Securities Capital Portion | 131,000,000 | ||||
Tier Two Capital, Trust Preferred Securities Capital Portion | 718,200,000 | ||||
Net earnings (loss) | $ 606,959,000 | $ (1,237,574,000) | $ 468,636,000 | ||
Capital Required to be Well Capitalized to Risk Weighted Assets Capital Conservation Buffer | 10.50% | 10.50% | 10.50% | ||
Tier One Risk Based Common Equity Required to be Well Capitalized to Risk Weighted Assets Capital Conservation Buffer | 7.00% | 7.00% | 7.00% | ||
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets Capital Conservation Buffer | 8.50% | 8.50% | 8.50% | ||
April 30, 2021 Issuance | |||||
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | |||||
Subordinated debt | $ 400,000,000 | ||||
Subordinated Borrowing, Interest Rate | 3.25% | ||||
Pacific Western Bank | |||||
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | |||||
Retained earnings | $ 1,500,000,000 | ||||
Deferred Tax Assets, Regulatory Assets and Liabilities | $ 41,000,000 | ||||
Capital Required to be Well Capitalized to Risk Weighted Assets | 0.1000 | 0.1000 | |||
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 0.0800 | 0.0800 | |||
Tier One Risk Based Capital Required to be Well Capitalized | 6.50% | 6.50% | |||
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 0.0500 | 0.0500 | |||
Net earnings (loss) | $ (155,300,000) | ||||
Payments of Ordinary Dividends | $ 776,000,000 | ||||
Capital Required to be Well Capitalized to Risk Weighted Assets Capital Conservation Buffer | 10.50% | 10.50% | 10.50% | ||
Tier One Risk Based Common Equity Required to be Well Capitalized to Risk Weighted Assets Capital Conservation Buffer | 7.00% | 7.00% | 7.00% | ||
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets Capital Conservation Buffer | 8.50% | 8.50% | 8.50% |
Condensed Financial Informati_3
Condensed Financial Information Of Parent Company Condensed Financial Information Of Parent Company (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Condensed Financial Statements, Captions [Line Items] | ||||
Other assets | $ 1,083,992 | $ 860,326 | ||
Assets | 40,443,344 | 29,498,442 | ||
Subordinated debt | 863,300 | |||
Total liabilities | 36,443,714 | 25,903,491 | ||
Stockholders' Equity Attributable to Parent Only | 3,999,630 | 3,594,951 | $ 4,954,697 | $ 4,825,588 |
Total liabilities and stockholders' equity | 40,443,344 | 29,498,442 | ||
Parent [Member] | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Cash | 176,923 | 127,849 | ||
Investments In Consolidated Banking Subsidiaries | 3,845,653 | 3,530,823 | ||
Other assets | 122,324 | 75,835 | ||
Assets | 4,144,900 | 3,734,507 | ||
Subordinated debt | 135,055 | 135,055 | ||
Other Liabilities | 10,215 | 4,501 | ||
Total liabilities | 145,270 | 139,556 | ||
Stockholders' Equity Attributable to Parent Only | 3,999,630 | 3,594,951 | ||
Total liabilities and stockholders' equity | $ 4,144,900 | $ 3,734,507 |
Condensed Financial Informati_4
Condensed Financial Information Of Parent Company Condensed Financial Information Of Parent Company (Details 1) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Condensed Financial Statements, Captions [Line Items] | |||
Investment Income, Dividend | $ 991 | $ 1,573 | $ 1,646 |
Total Income | 1,352,656 | 1,249,551 | 1,362,455 |
Interest Expense | 54,905 | 88,933 | 205,264 |
Income Tax Expense (Benefit) | (215,375) | (75,173) | (164,304) |
Net earnings (loss) | 606,959 | (1,237,574) | 468,636 |
Parent Only | |||
Condensed Financial Statements, Captions [Line Items] | |||
Other Income | 52,955 | 14,276 | 9,739 |
Investment Income, Dividend | 182,000 | 258,000 | 336,000 |
Total Income | 234,955 | 272,276 | 345,739 |
Interest Expense | 3,527 | 4,394 | 6,637 |
Operating Expenses | 18,913 | 11,184 | 9,833 |
Total Expenses | 22,440 | 15,578 | 16,470 |
Net earnings from continuing operations | 212,515 | 256,698 | 329,269 |
Income Tax Expense (Benefit) | (6,188) | (3,268) | 2,202 |
Income Loss From Continuing Operations Before Income Loss From Equity Method Investments | 206,327 | 253,430 | 331,471 |
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions | 400,632 | (1,491,004) | 137,165 |
Net earnings (loss) | $ 606,959 | $ (1,237,574) | $ 468,636 |
Condensed Financial Informati_5
Condensed Financial Information Of Parent Company Condensed Financial Information Of Parent Company (Details 2) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Condensed Financial Statements, Captions [Line Items] | ||||
Net earnings (loss) | $ 606,959 | $ (1,237,574) | $ 468,636 | |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract] | ||||
(Increase) decrease in other assets | (97,181) | (105,749) | 30,261 | |
Net Cash Provided by (Used in) Financing Activities [Abstract] | ||||
Restricted stock surrendered | (8,505) | (75,369) | (162,965) | |
Cash dividends paid, net | (119,443) | (159,748) | (289,048) | |
Parent Only | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net earnings (loss) | 606,959 | (1,237,574) | 468,636 | |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract] | ||||
(Increase) decrease in other assets | (67,242) | (29,568) | (35,510) | |
Increase (Decrease) in Operating Liabilities | 5,714 | 780 | (1,661) | |
Earned stock compensation | 32,223 | 24,363 | 26,815 | |
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions | (400,632) | 1,491,004 | (137,165) | |
Net cash provided by operating activities | 177,022 | 249,005 | 321,115 | |
Net Cash Provided by (Used in) Investing Activities [Abstract] | ||||
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | 0 | 0 | 0 | |
Net Cash Provided by (Used in) Financing Activities [Abstract] | ||||
Restricted stock surrendered | (75,369) | (162,965) | ||
Cash dividends paid, net | (159,748) | (289,048) | ||
Net cash provided by (used in) financing activities | (127,948) | (235,117) | (452,013) | |
Net Cash Provided by (Used in) Continuing Operations | 49,074 | 13,888 | (130,898) | |
Cash and Cash Equivalents, at Carrying Value | $ 176,923 | $ 127,849 | $ 113,961 | $ 244,859 |
Related Party Disclosures (Deta
Related Party Disclosures (Details) | 12 Months Ended | |
Dec. 31, 2021USD ($) | Dec. 30, 2021USD ($)shares | |
Related Party Transaction [Line Items] | ||
Payments to Acquire Investments | $ 25,000,000 | |
Private Placement Depository Share | shares | 1,000,000 | |
Depository Private Placement Share Price | $ 25 | |
Senior Debt Obligations | ||
Related Party Transaction [Line Items] | ||
Payments to Acquire Investments | 25,000,000 | |
Subordinated Debentures at Par Value | ||
Related Party Transaction [Line Items] | ||
Payments to Acquire Investments | $ 24,500,000 |
Subsequent Events Subsequent Ev
Subsequent Events Subsequent Events (Details Textual) - USD ($) | Feb. 15, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Feb. 12, 2020 |
Subsequent Event [Line Items] | |||||
Stock Repurchase Program, Authorized Amount | $ 200,000,000 | ||||
Dividends declared per share (usd per share) | $ 2.40 | $ 1.35 | $ 1 | ||
Subsequent Event [Member] | |||||
Subsequent Event [Line Items] | |||||
Stock Repurchase Program, Authorized Amount | $ 100,000,000 | ||||
Dividend Declared [Member] | Subsequent Event [Member] | |||||
Subsequent Event [Line Items] | |||||
Dividends declared per share (usd per share) | $ 0.25 |