Cover Page
Cover Page - shares | 3 Months Ended | |
Mar. 31, 2021 | Apr. 30, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Transition Report | false | |
Document Period End Date | Mar. 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., 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 $0.01 per share | |
Trading Symbol | PACW | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Central Index Key | 0001102112 | |
Entity Filer Category | Large Accelerated Filer | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Entity Interactive Data Current | Yes | |
Document Quarterly Report | true | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 116,916,461 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | |
ASSETS: | |||
Cash and due from banks | $ 177,199 | $ 150,464 | |
Interest-earning deposits in financial institutions | 5,517,667 | 3,010,197 | |
Total cash, cash equivalents, and restricted cash | 5,694,866 | 3,160,661 | |
Securities available-for-sale, at fair value | 5,941,690 | 5,235,591 | |
Federal Home Loan Bank stock, at cost | 17,250 | 17,250 | |
Total investment securities | 5,958,940 | 5,252,841 | |
Loans Receivable Held-for-sale, Amount | 25,554 | 0 | |
Gross loans and leases held for investment | 19,055,165 | 19,153,357 | |
Deferred fees, net | (75,937) | (69,980) | |
Allowance for loan and lease losses | (292,445) | (348,181) | |
Total loans and leases held for investment, net | [1] | 18,686,783 | 18,735,196 |
Equipment leased to others under operating leases | 327,413 | 333,846 | |
Premises and equipment, net | 39,622 | 39,234 | |
Foreclosed assets, net | 14,298 | 14,027 | |
Goodwill | 1,204,092 | 1,078,670 | |
Core deposit and customer relationship intangibles, net | 21,312 | 23,641 | |
Other assets | 883,653 | 860,326 | |
Total assets | 32,856,533 | 29,498,442 | |
LIABILITIES AND STOCKHOLDERS' EQUITY | |||
Noninterest-bearing deposits | 11,017,462 | 9,193,827 | |
Interest-bearing deposits | 17,205,829 | 15,746,890 | |
Total deposits | 28,223,291 | 24,940,717 | |
Borrowings | 19,750 | 5,000 | |
Subordinated debentures | 465,814 | 465,812 | |
Accrued interest payable and other liabilities | 493,541 | 491,962 | |
Total liabilities | 29,202,396 | 25,903,491 | |
Commitments and contingencies | |||
Preferred Stock, Shares Authorized | 5,000,000 | ||
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 March 31, 2021 and December 31, 2020; 121,480,278 and 120,736,834 shares issued, respectively, including 2,189,181 and 1,608,126 shares of unvested restricted stock, respectively) | 1,215 | 1,207 | |
Additional paid-in capital | 3,077,455 | 3,100,633 | |
Retained earnings | 559,797 | 409,391 | |
Treasury stock, at cost (2,374,636 and 2,321,981 shares at March 31, 2021 and December 31, 2020) | (90,711) | (88,803) | |
Accumulated other comprehensive income, net | 106,381 | 172,523 | |
Total stockholders' equity | 3,654,137 | 3,594,951 | |
Total liabilities and stockholders' equity | $ 32,856,533 | $ 29,498,442 | |
[1] | Excludes accrued interest receivable of $76.3 million and $79.7 million at March 31, 2021 and December 31, 2020, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets. |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Earnings - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | |
Interest income: | |||
Loans and leases | $ 241,544 | $ 242,198 | $ 262,278 |
Investment securities | 30,265 | 28,843 | 27,446 |
Deposits in financial institutions | 1,528 | 1,135 | 1,608 |
Total interest income | 273,337 | 272,176 | 291,332 |
Interest expense: | |||
Deposits | 7,500 | 8,454 | 28,247 |
Borrowings | 193 | 37 | 6,778 |
Subordinated debentures | 4,375 | 4,477 | 6,560 |
Total interest expense | 12,068 | 12,968 | 41,585 |
Net interest income | 261,269 | 259,208 | 249,747 |
Provision for credit losses | (48,000) | 10,000 | 112,000 |
Net interest income after provision for credit losses | 309,269 | 249,208 | 137,747 |
Noninterest income: | |||
Leased equipment income | 9,158 | 9,974 | 9,721 |
Other commissions and fees | 11,354 | 9,440 | 12,251 |
Service charges on deposit accounts | 2,934 | 3,119 | 2,658 |
Gain on sale of loans and leases | 139 | 1,671 | 87 |
Gain on sale of securities | 101 | 4 | 182 |
Other income | 21,143 | 15,642 | 4,201 |
Total noninterest income | 44,829 | 39,850 | 29,100 |
Noninterest expense: | |||
Compensation | 79,882 | 73,171 | 61,282 |
Occupancy | 14,054 | 14,083 | 14,207 |
Leased equipment depreciation | 6,957 | 6,718 | 6,454 |
Data processing | 8,969 | 7,501 | 7,205 |
Other professional services | 3,079 | 3,172 | 3,948 |
Insurance and assessments | 5,126 | 6,800 | 4,258 |
Customer related expense | 4,903 | 5,064 | 4,249 |
Acquisition, integration and reorganization costs | 4,818 | 4,430 | 3,932 |
Loan expense | 3,193 | 3,926 | 2,650 |
Intangible asset amortization | 3,425 | 1,060 | 0 |
Foreclosed assets expense (income), net | 1 | (272) | 66 |
Goodwill impairment | 0 | 0 | 1,470,000 |
Other expense | 15,729 | 10,029 | 9,719 |
Total noninterest expense | 150,136 | 135,682 | 1,587,970 |
Earnings (loss) before income taxes | 203,962 | 153,376 | (1,421,123) |
Income tax expense | (53,556) | (36,546) | (11,988) |
Net earnings (loss) | $ 150,406 | $ 116,830 | $ (1,433,111) |
Earnings (loss) per share: | |||
Basic (usd per share) | $ 1.27 | $ 0.99 | $ (12.23) |
Diluted (usd per share) | $ 1.27 | $ 0.99 | $ (12.23) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | ||
Statement of Comprehensive Income [Abstract] | ||||
Net earnings | $ 150,406 | $ 116,830 | $ (1,433,111) | |
Other comprehensive income (loss), net of tax: | ||||
Unrealized net holding gains (losses) on securities available-for-sale arising during the period | (91,523) | 22,988 | 17,183 | |
Income tax (expense) benefit related to unrealized holding gains (losses) arising during the period | 25,454 | (5,936) | (4,794) | |
Unrealized net holding gains (losses) on securities available-for-sale, net of tax | (66,069) | 17,052 | 12,389 | |
Reclassification adjustment for net (gains) losses included in net earnings | [1] | (101) | (4) | (182) |
Income tax expense (benefit) related to reclassification adjustment | 28 | 1 | 51 | |
Reclassification adjustment for net (gains) losses included in net earnings, net of tax | (73) | (3) | (131) | |
Other comprehensive (loss) income, net of tax | (66,142) | 17,049 | 12,258 | |
Comprehensive income (loss) | $ 84,264 | $ 133,879 | $ (1,420,853) | |
[1] | Entire amounts are recognized in "Gain on sale of securities" on the Condensed Consolidated Statements of Earnings (Loss). |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Treasury Stock | Shares Of Common Stock | Accumulated Other Comprehensive Income (Loss) | ||
Dividends declared per share (usd per share) | $ 0.60 | ||||||||
Beginning Period Balance at Dec. 31, 2019 | $ 4,954,697 | $ 1,219 | $ 3,306,006 | $ 1,652,248 | $ (83,434) | $ 78,658 | |||
Shares outstanding, beginning balance (shares) at Dec. 31, 2019 | 119,781,605 | ||||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||||
Net earnings | (1,433,111) | (1,433,111) | |||||||
Other comprehensive income - net unrealized gain on securities available-for-sale, net of tax | 12,258 | 12,258 | |||||||
Restricted stock awarded and earned compensation, net of shares forfeited (shares) | 194,916 | ||||||||
Restricted stock awarded and earned stock compensation, net of shares forfeited | 6,494 | $ 2 | 6,492 | ||||||
Restricted stock surrendered (shares) | (106,021) | (1,953,711) | |||||||
Restricted stock surrendered | (3,460) | (3,460) | |||||||
Common stock repurchased under Stock Repurchase Program | (20) | ||||||||
Common stock repurchased under Stock Repurchase Program | (70,000) | (69,980) | |||||||
Cash dividends paid | (71,206) | (71,206) | |||||||
Ending Period Balance at Mar. 31, 2020 | 3,390,389 | $ 1,201 | 3,171,312 | 213,854 | (86,894) | 90,916 | |||
Shares outstanding, ending balance (shares) at Mar. 31, 2020 | 117,916,789 | ||||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||||
New Accounting Pronouncement, Effect of Change on Net Income | $ (5,283) | [1] | (5,283) | [1] | 0 | ||||
Dividends declared per share (usd per share) | $ 0.25 | ||||||||
Beginning Period Balance at Dec. 31, 2020 | $ 3,594,951 | $ 1,207 | 3,100,633 | 409,391 | (88,803) | 172,523 | |||
Shares outstanding, beginning balance (shares) at Dec. 31, 2020 | 118,414,853 | ||||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||||
Net earnings | 150,406 | 150,406 | |||||||
Other comprehensive income - net unrealized gain on securities available-for-sale, net of tax | (66,142) | (66,142) | |||||||
Restricted stock awarded and earned compensation, net of shares forfeited (shares) | 743,444 | ||||||||
Restricted stock awarded and earned stock compensation, net of shares forfeited | 6,417 | $ 8 | 6,409 | ||||||
Restricted stock surrendered (shares) | (52,655) | ||||||||
Restricted stock surrendered | (1,908) | (1,908) | |||||||
Cash dividends paid | (29,587) | (29,587) | |||||||
Ending Period Balance at Mar. 31, 2021 | $ 3,654,137 | $ 1,215 | $ 3,077,455 | $ 559,797 | $ (90,711) | $ 106,381 | |||
Shares outstanding, ending balance (shares) at Mar. 31, 2021 | 119,105,642 | ||||||||
[1] | 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. |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash flows from operating activities: | ||
Payments to Acquire Businesses, Gross | $ (121,909) | $ 0 |
Net earnings (loss) | 150,406 | (1,433,111) |
Goodwill impairment | 0 | 1,470,000 |
Depreciation and amortization | 12,924 | 10,914 |
Amortization of net premiums on securities available-for-sale | 7,575 | 2,643 |
Amortization of intangible assets | 3,079 | 3,948 |
Amortization of operating lease ROU assets | 7,548 | 7,196 |
Provision for credit losses | (48,000) | 112,000 |
Gain on sale of foreclosed assets | (73) | (52) |
Provision for losses on foreclosed assets | 14 | 105 |
Gain on sale of loans and leases | (139) | (87) |
(Gain) loss on sale of premises and equipment | (28) | 77 |
Gain on sale of securities | (101) | (182) |
Unrealized (gain) loss on derivatives and foreign currencies, net | (546) | 264 |
Earned stock compensation | 6,417 | 6,494 |
Decrease in other assets | 60,160 | 4,206 |
Decrease in accrued interest payable and other liabilities | (52,533) | (68,841) |
Net cash provided by operating activities | 146,703 | 115,574 |
Cash flows from investing activities: | ||
Net decrease (increase) in loans and leases | 68,916 | (923,353) |
Proceeds from sales of loans and leases | 72,780 | 87 |
Proceeds from maturities and paydowns of securities available-for-sale | 200,367 | 80,521 |
Proceeds from sales of securities available-for-sale | 44,652 | 14,948 |
Purchases of securities available-for-sale | (1,050,217) | (41,405) |
Net purchases of Federal Home Loan Bank stock | 0 | (13,320) |
Proceeds from sales of foreclosed assets | 435 | 462 |
Purchases of premises and equipment, net | (1,936) | (4,304) |
Proceeds from sales of premises and equipment | 64 | 2 |
Proceeds from BOLI death benefit | 0 | 380 |
Net (increase) decrease in equipment leased to others under operating leases | (4,289) | 10,905 |
Net cash used in investing activities | (791,137) | (875,077) |
Cash flows from financing activities: | ||
Net increase in noninterest-bearing deposits | 1,786,655 | 266,932 |
Net increase in interest-bearing deposits | 1,458,939 | 75,881 |
Net (decrease) increase in borrowings | (35,460) | 535,992 |
Common stock repurchased and restricted stock surrendered | (1,908) | (73,460) |
Cash dividends paid | (29,587) | (71,206) |
Net cash provided by financing activities | 3,178,639 | 734,139 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | 2,534,205 | (25,364) |
Cash, cash equivalents, and restricted cash, beginning of period | 3,160,661 | 637,624 |
Cash, cash equivalents, and restricted cash, end of period | 5,694,866 | 612,260 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 12,421 | 43,820 |
Cash paid for income taxes | 2,706 | 2,019 |
Loans transferred to foreclosed assets | 647 | 1,776 |
Transfers from loans held for investment to loans held for sale | 25,554 | $ 0 |
Liabilities | $ 29,202,396 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Preferred stock par value (usd per share) | $ 0.01 | |
Preferred Stock, Shares Authorized | 5,000,000 | |
Common Stock par value (usd per share) | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Shares, Issued | 121,480,278 | 120,736,834 |
Unvested restricted shares (shares) | 2,189,181 | 1,608,126 |
Treasury Stock (shares) | 2,374,636 | 2,321,981 |
Organization
Organization | 3 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization | ORGANIZATION 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. We are 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 70 full-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 innovation hubs across the United States. 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 foreign exchange services. Our major operating expenses are interest paid by the Bank on deposits and borrowings, compensation, occupancy, and general operating expenses. Significant Accounting Policies Our accounting policies are described in Note 1. Nature of Operations and Summary of Significant Accounting Policies , of our audited consolidated financial statements included in our Annual R eport on Form 10-K for the year ended December 31, 2020 as filed with the Securities and Exchange Commission ("Form 10-K"). 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 condensed 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 condensed 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 condensed consolidated financial statements. Basis of Presentation Our interim condensed consolidated financial statements are prepared in accordance with U.S. GAAP for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Act of 1934. Accordingly, certain disclosures accompanying annual consolidated financial statements are omitted. 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 for the interim periods, have been included. The current period's results of operations are not necessarily indicative of the results that ultimately may be achieved for the year. The interim condensed consolidated financial statements and notes thereto should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Form 10-K. Use of Estimates We have made a number of estimates and assumptions related to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period to prepare these condensed 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 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. |
Restricted Cash Balances
Restricted Cash Balances | 3 Months Ended |
Mar. 31, 2021 | |
Restricted Cash [Abstract] | |
Restricted Cash Balances | RESTRICTED CASH BALANCESThe FRBSF establishes cash reserve requirements that its member banks must maintain based on a percentage of deposit liabilities. On March 26, 2020, the FRBSF reduced the reserve requirement ratios to zero percent. There was no average reserves required to be held at the FRBSF for the three months ended March 31, 2021. The average reserves required to be held at the FRBSF for the three months ended March 31, 2020 was $166.2 million. As of March 31, 2021 and December 31, 2020, we pledged cash collateral for our derivative contracts of $2.9 million. |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 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: March 31, 2021 December 31, 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) Municipal securities $ 1,589,855 $ 65,063 $ (8,864) $ 1,646,054 $ 1,438,004 $ 93,631 $ (18) $ 1,531,617 Agency commercial MBS 1,227,960 51,944 (6,502) 1,273,402 1,207,676 74,238 (37) 1,281,877 Agency residential CMOs 1,073,402 38,771 (3,345) 1,108,828 1,172,166 47,994 (280) 1,219,880 U.S. Treasury securities 500,902 276 (9,820) 491,358 4,989 313 — 5,302 Agency residential MBS 422,955 12,337 (2,192) 433,100 329,488 12,483 (897) 341,074 Corporate debt securities 377,280 5,674 (2,547) 380,407 308,803 3,490 (404) 311,889 Collateralized loan obligations 244,946 204 (910) 244,240 136,777 23 (924) 135,876 Asset-backed securities 222,709 1,848 (542) 224,015 248,739 1,534 (770) 249,503 Private label residential CMOs 98,958 4,728 (310) 103,376 110,891 6,076 (21) 116,946 SBA securities 35,726 1,218 (34) 36,910 39,437 2,217 (27) 41,627 Total $ 5,794,693 $ 182,063 $ (35,066) $ 5,941,690 $ 4,996,970 $ 241,999 $ (3,378) $ 5,235,591 As of March 31, 2021, securities available-for-sale with a fair value of $488.0 million were pledged as collateral for 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: Three Months Ended March 31, Sales of Securities Available-for-Sale 2021 2020 (In thousands) Amortized cost of securities sold $ 44,551 $ 14,766 Gross realized gains $ 101 $ 182 Net realized gains $ 101 $ 182 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: March 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) Municipal securities $ 446,081 $ (8,864) $ — $ — $ 446,081 $ (8,864) Agency commercial MBS 177,833 (6,502) — — 177,833 (6,502) Agency residential CMOs 148,694 (3,345) — — 148,694 (3,345) U.S. Treasury securities 486,092 (9,820) — — 486,092 (9,820) Agency residential MBS 186,057 (2,172) 1,330 (20) 187,387 (2,192) Corporate debt securities 150,214 (2,547) — — 150,214 (2,547) Collateralized loan obligations 82,027 (593) 48,694 (317) 130,721 (910) Asset-backed securities 27,843 (72) 44,246 (470) 72,089 (542) Private label residential CMOs 29,344 (308) 365 (2) 29,709 (310) SBA securities — — 1,917 (34) 1,917 (34) Total $ 1,734,185 $ (34,223) $ 96,552 $ (843) $ 1,830,737 $ (35,066) 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) 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) Agency residential MBS 90,722 (897) — — 90,722 (897) Corporate debt securities 87,596 (404) — — 87,596 (404) Collateralized loan obligations 96,442 (729) 28,972 (195) 125,414 (924) Asset-backed securities 17,694 (63) 61,031 (707) 78,725 (770) Private label residential CMOs 788 (19) 74 (2) 862 (21) 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 March 31, 2021, were considered impaired and required further review to determine if the unrealized losses were credit-related. We concluded the 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 securities available-for-sale portfolio based on amortized cost and carrying value as of the date indicated: March 31, 2021 Amortized Fair Maturities Cost Value (In thousands) Due in one year or less $ 16,309 $ 16,075 Due after one year through five years 571,182 598,902 Due after five years through ten years 1,963,578 1,989,510 Due after ten years 3,243,624 3,337,203 Total securities available-for-sale $ 5,794,693 $ 5,941,690 CMBS, CMOs, and MBS 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. Interest Income on Investment Securities The following table presents the composition of our interest income on investment securities for the periods indicated: Three Months Ended March 31, 2021 2020 (In thousands) Taxable interest $ 21,970 $ 21,786 Non-taxable interest 8,078 5,229 Dividend income 217 431 Total interest income on investment securities $ 30,265 $ 27,446 |
Loans and Leases
Loans and Leases | 3 Months Ended |
Mar. 31, 2021 | |
Receivables [Abstract] | |
Loans and Leases | LOANS AND LEASES Our loans are carried at the principal amount outstanding, net of deferred fees and costs, and in the case of acquired and purchased loans, net of purchase discounts and premiums. Deferred fees and costs and purchase discounts and premiums on acquired loans 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 included in the carrying amount of loans that are sold. 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: March 31, December 31, 2021 2020 (In thousands) Real estate mortgage $ 7,992,490 $ 7,905,193 Real estate construction and land 3,602,310 3,393,145 Commercial 7,120,049 7,534,801 Consumer 340,316 320,218 Total gross loans and leases held for investment 19,055,165 19,153,357 Deferred fees, net (75,937) (69,980) Total loans and leases held for investment, net of deferred fees 18,979,228 19,083,377 Allowance for loan and lease losses (292,445) (348,181) Total loans and leases held for investment, net (1) $ 18,686,783 $ 18,735,196 ____________________ (1) Excludes accrued interest receivable of $76.3 million and $79.7 million at March 31, 2021 and December 31, 2020, respectively, which is recorded in "Other assets" on the condensed 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: March 31, 2021 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 36 $ 25,833 $ 25,869 $ 3,915,741 $ 3,941,610 Income producing and other residential 6,502 1,052 7,554 4,038,049 4,045,603 Total real estate mortgage 6,538 26,885 33,423 7,953,790 7,987,213 Real estate construction and land: Commercial — — — 990,035 990,035 Residential 1,241 416 1,657 2,574,131 2,575,788 Total real estate construction and land 1,241 416 1,657 3,564,166 3,565,823 Commercial: Asset-based — 1,880 1,880 3,381,523 3,383,403 Venture capital 6,750 — 6,750 1,489,048 1,495,798 Other commercial 1,645 3,954 5,599 2,201,040 2,206,639 Total commercial 8,395 5,834 14,229 7,071,611 7,085,840 Consumer 954 288 1,242 339,110 340,352 Total $ 17,128 $ 33,423 $ 50,551 $ 18,928,677 $ 18,979,228 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 It is our policy to discontinue accruing interest when principal or interest payments are past due 90 days or more (unless the loan is both well secured and in the process of collection) or when, in the opinion of management, there is a reasonable doubt as to the collectability of a loan or lease in the normal course of business. Interest income on nonaccrual loans is recognized only to the extent cash is received and the principal balance of the loan is deemed collectable. 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: March 31, 2021 December 31, 2020 Nonaccrual Performing Total Nonaccrual Performing Total (In thousands) Real estate mortgage: Commercial $ 46,436 $ 3,895,174 $ 3,941,610 $ 43,731 $ 4,052,940 $ 4,096,671 Income producing and other residential 2,471 4,043,132 4,045,603 1,826 3,801,439 3,803,265 Total real estate mortgage 48,907 7,938,306 7,987,213 45,557 7,854,379 7,899,936 Real estate construction and land: Commercial 302 989,733 990,035 315 1,116,806 1,117,121 Residential 416 2,575,372 2,575,788 — 2,243,160 2,243,160 Total real estate construction and land 718 3,565,105 3,565,823 315 3,359,966 3,360,281 Commercial: Asset-based 2,379 3,381,024 3,383,403 2,679 3,426,604 3,429,283 Venture capital 2,432 1,493,366 1,495,798 1,980 1,696,528 1,698,508 Other commercial 12,660 2,193,979 2,206,639 40,243 2,334,871 2,375,114 Total commercial 17,471 7,068,369 7,085,840 44,902 7,458,003 7,502,905 Consumer 556 339,796 340,352 389 319,866 320,255 Total $ 67,652 $ 18,911,576 $ 18,979,228 $ 91,163 $ 18,992,214 $ 19,083,377 At March 31, 2021, nonaccrual loans and leases included $33.4 million of loans and leases 90 or more days past due, $0.6 million of loans and leases 30 to 89 days past due, and $33.6 million of loans and leases current with respect to contractual payments 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 and leases 30 to 89 days past due, and $51.3 million of current loans and leases that were placed on nonaccrual status based on management’s judgment regarding their collectability. As of March 31, 2021, our three largest loan relationships on nonaccrual status had an aggregate carrying value of $31.4 million and represented 46% of total nonaccrual loans and leases. The following tables present the credit risk rating categories for loans and leases held for investment, net of deferred fees, 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. March 31, 2021 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 77,444 $ 254,463 $ 3,609,703 $ 3,941,610 Income producing and other residential 9,064 63,231 3,973,308 4,045,603 Total real estate mortgage 86,508 317,694 7,583,011 7,987,213 Real estate construction and land: Commercial 302 66,790 922,943 990,035 Residential 416 602 2,574,770 2,575,788 Total real estate construction and land 718 67,392 3,497,713 3,565,823 Commercial: Asset-based 24,941 142,122 3,216,340 3,383,403 Venture capital 8,727 89,423 1,397,648 1,495,798 Other commercial 41,597 13,535 2,151,507 2,206,639 Total commercial 75,265 245,080 6,765,495 7,085,840 Consumer 626 2,831 336,895 340,352 Total $ 163,117 $ 632,997 $ 18,183,114 $ 18,979,228 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 periods indicated: Three Months Three Months Ended Ended March 31, March 31, March 31, March 31, 2021 2021 2020 2020 Nonaccrual Interest Nonaccrual Interest Recorded Income Recorded Income Investment Recognized Investment Recognized (In thousands) With An Allowance Recorded: Real estate mortgage: Commercial $ 76 $ — $ 342 $ — Income producing and other residential 1,883 — 1,534 — Real estate construction and land: Residential 116 — — — Commercial: Asset based 1,880 — — — Venture capital 2,432 — 15,524 — Other commercial 1,655 — 28,782 — Consumer 556 — 413 — With No Related Allowance Recorded: Real estate mortgage: Commercial $ 46,360 $ 287 $ 18,746 $ 84 Income producing and other residential 588 — 774 — Real estate construction and land: Commercial 302 — 351 — Residential 300 — — — Commercial: Asset based 500 — 17,103 — Venture capital — — 3,089 — Other commercial 11,004 1,830 8,944 24 Total Loans and Leases With and Without an Allowance Recorded: Real estate mortgage $ 48,907 $ 287 $ 21,396 $ 84 Real estate construction and land 718 — 351 — Commercial 17,471 1,830 73,442 24 Consumer 556 — 413 — Total $ 67,652 $ 2,117 $ 95,602 $ 108 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 dates indicated: Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term March 31, 2021 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Real Estate Mortgage: Commercial Internal risk rating: 1-2 High pass $ — $ 1,978 $ 1,646 $ 6,000 $ 13,343 $ 51,821 $ — $ — $ 74,788 3-4 Pass 38,810 569,953 417,291 544,055 671,985 1,226,120 51,358 15,343 3,534,915 5 Special mention — 2,609 84,720 95,272 7,199 64,663 — — 254,463 6-8 Classified — 504 1,221 5,684 12,234 57,801 — — 77,444 Total $ 38,810 $ 575,044 $ 504,878 $ 651,011 $ 704,761 $ 1,400,405 $ 51,358 $ 15,343 $ 3,941,610 Current YTD period: Gross charge-offs $ — $ — $ — $ 168 $ 45 $ 155 $ — $ — $ 368 Gross recoveries — — — — — (541) — — (541) Net $ — $ — $ — $ 168 $ 45 $ (386) $ — $ — $ (173) Real Estate Mortgage: Income Producing and Other Residential Internal risk rating: 1-2 High pass $ 1,505 $ 55,262 $ 42,358 $ 26,420 $ 26,984 $ 23,133 $ — $ — $ 175,662 3-4 Pass 285,757 532,473 849,901 955,726 529,270 390,100 254,127 292 3,797,646 5 Special mention — 12,465 4,207 43,022 950 1,725 236 626 63,231 6-8 Classified — 295 162 3,073 — 4,728 — 806 9,064 Total $ 287,262 $ 600,495 $ 896,628 $ 1,028,241 $ 557,204 $ 419,686 $ 254,363 $ 1,724 $ 4,045,603 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Gross recoveries — — — — — (4) — — (4) Net $ — $ — $ — $ — $ — $ (4) $ — $ — $ (4) Real Estate Construction and Land: Commercial Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass (2,226) 75,414 373,311 356,846 87,926 31,672 — — 922,943 5 Special mention — — — — 66,790 — — — 66,790 6-8 Classified — — — — — 302 — — 302 Total $ (2,226) $ 75,414 $ 373,311 $ 356,846 $ 154,716 $ 31,974 $ — $ — $ 990,035 Current YTD period: Gross charge-offs $ — $ — $ — $ 700 $ — $ — $ — $ — $ 700 Gross recoveries — — — — — — — — — Net $ — $ — $ — $ 700 $ — $ — $ — $ — $ 700 Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term March 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 226,803 500,914 805,652 746,717 208,155 22,446 9,034 55,049 2,574,770 5 Special mention — 208 — 394 — — — — 602 6-8 Classified — — — 416 — — — — 416 Total $ 226,803 $ 501,122 $ 805,652 $ 747,527 $ 208,155 $ 22,446 $ 9,034 $ 55,049 $ 2,575,788 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Gross recoveries — — — — — — — — — Net $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial: Asset-Based Internal risk rating: 1-2 High pass $ 12,602 $ 102,110 $ 168,477 $ 114,084 $ 67,281 $ 206,274 $ 368,179 $ 93,840 $ 1,132,847 3-4 Pass 27,273 115,743 72,835 69,778 31,463 34,991 1,699,103 32,307 2,083,493 5 Special mention — — 59,012 35,337 7,346 13,971 21,970 4,486 142,122 6-8 Classified — — — — — 19,936 5,905 (900) 24,941 Total $ 39,875 $ 217,853 $ 300,324 $ 219,199 $ 106,090 $ 275,172 $ 2,095,157 $ 129,733 $ 3,383,403 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Gross recoveries — — — — — (259) (9) — (268) Net $ — $ — $ — $ — $ — $ (259) $ (9) $ — $ (268) Commercial: Venture Capital Internal risk rating: 1-2 High pass $ — $ 1,999 $ (2) $ — $ (8) $ 46 $ 229,128 $ — $ 231,163 3-4 Pass 18,506 45,573 83,328 22,044 7,402 28,299 954,246 7,087 1,166,485 5 Special mention — 33,619 32,331 — — — 23,473 — 89,423 6-8 Classified — — (1,757) 4,200 — 1,757 2,095 2,432 8,727 Total $ 18,506 $ 81,191 $ 113,900 $ 26,244 $ 7,394 $ 30,102 $ 1,208,942 $ 9,519 $ 1,495,798 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ 620 $ — $ — $ 620 Gross recoveries — — — (13) (35) (9) — — (57) Net $ — $ — $ — $ (13) $ (35) $ 611 $ — $ — $ 563 ____________________ (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 March 31, 2021 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Commercial: Other Commercial Internal risk rating: 1-2 High pass $ 358,071 $ 721,033 $ 332 $ 5 $ 323 $ 1,311 $ 70,251 $ 823 $ 1,152,149 3-4 Pass 21,651 87,985 88,030 89,633 73,382 101,353 530,578 6,746 999,358 5 Special mention — — 36 2,130 432 10,329 27 581 13,535 6-8 Classified 2,042 2 586 26 24 5,534 27,761 5,622 41,597 Total $ 381,764 $ 809,020 $ 88,984 $ 91,794 $ 74,161 $ 118,527 $ 628,617 $ 13,772 $ 2,206,639 Current YTD period: Gross charge-offs $ — $ — $ — $ 47 $ — $ 154 $ 53 $ 1,700 $ 1,954 Gross recoveries — — (9) — (31) (312) — (20) (372) Net $ — $ — $ (9) $ 47 $ (31) $ (158) $ 53 $ 1,680 $ 1,582 Consumer Internal risk rating: 1-2 High pass $ — $ 13 $ — $ 7 $ 11 $ — $ 756 $ — $ 787 3-4 Pass 55,959 40,665 96,356 55,328 32,871 48,345 6,480 104 336,108 5 Special mention — 85 530 1,376 417 423 — — 2,831 6-8 Classified — 22 266 — — 314 2 22 626 Total $ 55,959 $ 40,785 $ 97,152 $ 56,711 $ 33,299 $ 49,082 $ 7,238 $ 126 $ 340,352 Current YTD period: Gross charge-offs $ — $ — $ 95 $ 136 $ 83 $ 32 $ — $ — $ 346 Gross recoveries — — — — (3) (7) — — (10) Net $ — $ — $ 95 $ 136 $ 80 $ 25 $ — $ — $ 336 Total Loans and Leases Internal risk rating: 1-2 High pass $ 372,178 $ 882,395 $ 212,811 $ 146,516 $ 107,934 $ 282,585 $ 668,314 $ 94,663 $ 2,767,396 3-4 Pass 672,533 1,968,720 2,786,704 2,840,127 1,642,454 1,883,326 3,504,926 116,928 15,415,718 5 Special mention — 48,986 180,836 177,531 83,134 91,111 45,706 5,693 632,997 6-8 Classified 2,042 823 478 13,399 12,258 90,372 35,763 7,982 163,117 Total $ 1,046,753 $ 2,900,924 $ 3,180,829 $ 3,177,573 $ 1,845,780 $ 2,347,394 $ 4,254,709 $ 225,266 $ 18,979,228 Current YTD period: Gross charge-offs $ — $ — $ 95 $ 1,051 $ 128 $ 961 $ 53 $ 1,700 $ 3,988 Gross recoveries — — (9) (13) (69) (1,132) (9) (20) (1,252) Net $ — $ — $ 86 $ 1,038 $ 59 $ (171) $ 44 $ 1,680 $ 2,736 ______________________ (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. The Company has 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 has 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 periods indicated: Three Months Ended March 31, 2021 2020 Pre- Post- Pre- Post- Modification Modification Modification Modification Number Outstanding Outstanding Number Outstanding Outstanding of Recorded Recorded of Recorded Recorded Troubled Debt Restructurings Loans Investment Investment Loans Investment Investment (Dollars in thousands) Real estate mortgage: Commercial 1 $ 647 $ — — $ — $ — Income producing and other residential 2 266 266 — — — Commercial: Asset-based 1 503 503 4 1,741 1,741 Venture capital 3 4,502 2,529 2 2,047 2,047 Other commercial 12 32,250 14,276 15 22,165 20,389 Consumer 1 20 20 — — — Total 20 $ 38,188 $ 17,594 21 $ 25,953 $ 24,177 During the three months ended March 31, 2021, there was one $163,000 real estate mortgage income producing and other residential loan and one $87,000 oth er commercial loan restructured in the preceding 12-month period that subsequently defaulted. During the three months ended March 31, 2020, there was one $2.3 million venture capital loan and one other commercial loan totaling $9,000 restructured in the preceding 12-month period that subsequently defaulted. 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 9. Leases for information regarding operating leases where we are the lessor. The following table provides the components of leases receivable income for the periods indicated: Three Months Ended March 31, 2021 2020 (In thousands) Component of leases receivable income: Interest income on net investments in leases $ 2,080 $ 2,252 The following table presents the components of leases receivable as of the dates indicated: March 31, 2021 December 31, 2020 (In thousands) Net investment in direct financing leases: Lease payments receivable $ 149,830 $ 158,740 Unguaranteed residual assets 20,751 19,303 Deferred costs and other 1,010 996 Aggregate net investment in leases $ 171,591 $ 179,039 The following table presents maturities of leases receivable as of the date indicated: March 31, 2021 (In thousands) Period ending December 31, 2021 $ 54,990 2022 40,450 2023 27,725 2024 22,090 2025 10,167 Thereafter 7,675 Total undiscounted cash flows 163,097 Less: Unearned income (13,267) Present value of lease payments $ 149,830 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 periods indicated: Three Months Ended March 31, 2021 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of period $ 138,342 $ 78,356 $ 126,403 $ 5,080 $ 348,181 Charge-offs (368) (700) (2,574) (346) (3,988) Recoveries 545 — 697 10 1,252 Net charge-offs 177 (700) (1,877) (336) (2,736) Provision 2,603 (10,881) (45,810) 1,088 (53,000) Balance, end of period $ 141,122 $ 66,775 $ 78,716 $ 5,832 $ 292,445 Ending Allowance by Evaluation Methodology: Individually evaluated $ 220 $ — $ 1,581 $ — $ 1,801 Collectively evaluated $ 140,902 $ 66,775 $ 77,135 $ 5,832 $ 290,644 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 52,823 $ 2,047 $ 35,285 $ — $ 90,155 Collectively evaluated 7,934,390 3,563,776 7,050,555 340,352 18,889,073 Ending balance $ 7,987,213 $ 3,565,823 $ 7,085,840 $ 340,352 $ 18,979,228 Three Months Ended March 31, 2020 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of period $ 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 (500) — (19,232) (473) (20,205) Recoveries 124 — 955 16 1,095 Net charge-offs (376) — (18,277) (457) (19,110) Provision 41,865 18,221 37,459 455 98,000 Balance, end of period $ 91,372 $ 40,173 $ 87,570 $ 2,177 $ 221,292 Ending Allowance by Evaluation Methodology: Individually evaluated $ 230 $ — $ 6,462 $ — $ 6,692 Collectively evaluated $ 91,142 $ 40,173 $ 81,108 $ 2,177 $ 214,600 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 25,901 $ 1,816 $ 72,280 $ — $ 99,997 Collectively evaluated 7,983,043 2,878,437 8,353,944 429,884 19,645,308 Ending balance $ 8,008,944 $ 2,880,253 $ 8,426,224 $ 429,884 $ 19,745,305 The allowance for loan and lease losses decreased by $55.7 million in the first quarter of 2021 to $292.4 million due primarily to a provision for loan and lease losses benefit of $53.0 million driven by improvement in certain key macro-economic variables and decreased provisions for individually evaluated loans and leases. We actively participated in both rounds of the Paycheck Protection Program ("PPP"), under the provisions of the CARES Act during 2020 and 2021. As of March 31, 2021, PPP loans had an outstanding balance of approximately $1.1 billion. The loans are 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 dates: March 31, 2021 December 31, 2020 Real Business Real Business Property Assets Total Property Assets Total (In thousands) Real estate mortgage $ 46,767 $ — $ 46,767 $ 43,656 $ — $ 43,656 Real estate construction and land 2,047 — 2,047 1,766 — 1,766 Commercial — 4,577 4,577 — 31,100 31,100 Total $ 48,814 $ 4,577 $ 53,391 $ 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 condensed 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 periods indicated: Three Months Ended March 31, 2021 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of period $ 348,181 $ 85,571 $ 433,752 Charge-offs (3,988) — (3,988) Recoveries 1,252 — 1,252 Net charge-offs (2,736) — (2,736) Provision (53,000) 5,000 (48,000) Balance, end of period $ 292,445 $ 90,571 $ 383,016 Three Months Ended March 31, 2020 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of period $ 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 (20,205) — (20,205) Recoveries 1,095 — 1,095 Net charge-offs (19,110) — (19,110) Provision 98,000 14,000 112,000 Balance, end of period $ 221,292 $ 53,571 $ 274,863 |
Foreclosed Assets
Foreclosed Assets | 3 Months Ended |
Mar. 31, 2021 | |
Other Real Estate Owned Net Covered and NonCovered Including Foreclosed Assets [Abstract] | |
Foreclosed Assets | FORECLOSED ASSETS, NET The following table summarizes foreclosed assets, net of the valuation allowance, as of the dates indicated: March 31, December 31, Property Type 2021 2020 (In thousands) Commercial real estate $ 13,612 $ 12,979 Construction and land development 219 219 Total other real estate owned, net 13,831 13,198 Other foreclosed assets 467 829 Total foreclosed assets, net $ 14,298 $ 14,027 The following table presents the changes in foreclosed assets, net of the valuation allowance, for the period indicated: Foreclosed Assets (In thousands) Balance, December 31, 2020 $ 14,027 Transfers to foreclosed assets from loans 647 Provision for losses (14) Reductions related to sales (362) Balance, March 31, 2021 $ 14,298 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 3 Months Ended |
Mar. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS, NET 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 condensed consolidated statements of earnings (loss). The following table presents the changes in the carrying amount of goodwill for the period indicated: Goodwill (In thousands) Balance, December 31, 2020 $ 1,078,670 Addition from the Civic acquisition 125,422 Balance, March 31, 2021 $ 1,204,092 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 estimated aggregate future amortization expense for our current intangible assets as of the date indicated: March 31, 2021 (In thousands) Period ending December 31, 2021 $ 8,142 2022 7,672 2023 3,787 2024 1,711 Net CDI and CRI $ 21,312 The following table presents the changes in CDI and CRI and the related accumulated amortization for the periods indicated: Three Months Ended March 31, 2021 2020 (In thousands) Gross Amount of CDI and CRI: Balance, beginning of period $ 109,646 $ 117,573 Addition from Civic acquisition 750 — Fully amortized portion (9,846) — Balance, end of period 100,550 117,573 Accumulated Amortization: Balance, beginning of period (86,005) (79,179) Amortization expense (3,079) (3,948) Fully amortized portion 9,846 — Balance, end of period (79,238) (83,127) Net CDI and CRI, end of period $ 21,312 $ 34,446 |
Other Assets
Other Assets | 3 Months Ended |
Mar. 31, 2021 | |
Other Assets [Abstract] | |
Other Assets | OTHER ASSETS The following table presents the detail of our other assets as of the dates indicated: March 31, December 31, Other Assets 2021 2020 (In thousands) LIHTC investments $ 216,285 $ 213,034 Cash surrender value of BOLI 204,177 203,031 Operating lease ROU assets, net (1) 122,372 119,787 Interest receivable 100,107 101,596 Equity investments without readily determinable fair values 34,441 34,304 Taxes receivable 33,744 59,565 SBIC investments 33,374 32,327 Prepaid expenses 21,384 22,999 Equity investments with readily determinable fair values 10,266 6,147 Equity warrants (2) 4,589 4,520 Other receivables/assets 102,914 63,016 Total other assets $ 883,653 $ 860,326 ____________________ (1) See Note 9. Leases for further details regarding the operating lease ROU assets. (2) See Note 11. Derivatives for information regarding equity warrants. |
Leases
Leases | 3 Months Ended |
Mar. 31, 2021 | |
Leases [Abstract] | |
Leases | LEASES Operating Leases as a Lessee Our lease expense is a component of "Occupancy expense" on our condensed consolidated statements of earnings (loss). The following table presents the components of lease expense for the periods indicated: Three Months Ended March 31, 2021 2020 (In thousands) Operating lease expense: Fixed costs $ 8,496 $ 8,245 Variable costs 15 13 Short-term lease costs 256 92 Sublease income (1,099) (1,016) Net lease expense $ 7,668 $ 7,334 The following table presents supplemental cash flow information related to leases for the periods indicated: Three Months Ended March 31, 2021 2020 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,278 $ 8,236 ROU assets obtained in exchange for lease obligations: Operating leases $ 10,482 $ 4,560 The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated: March 31, December 31, 2021 2020 (Dollars in thousands) Operating leases: Operating lease right-of-use assets, net $ 122,372 $ 119,787 Operating lease liabilities $ 141,717 $ 139,501 Weighted average remaining lease term (in years) 5.6 5.8 Weighted average discount rate 2.40 % 2.54 % The following table presents the maturities of operating lease liabilities as of the date indicated: March 31, 2021 (In thousands) Period ending December 31, 2021 $ 26,769 2022 31,639 2023 28,718 2024 21,407 2025 14,596 Thereafter 29,017 Total operating lease liabilities 152,146 Less: Imputed interest (10,429) Present value of operating lease liabilities $ 141,717 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 the condensed 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 condensed 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 condensed consolidated statements of earnings (loss). The equipment is tested periodically for impairment. No impairment was recorded on "Equipment leased to others under operating leases" in the three months ended March 31, 2021 and 2020. The following table presents the rental payments to be received on operating leases as of the date indicated: March 31, 2021 (In thousands) Period ending December 31, 2021 $ 30,548 2022 39,884 2023 30,621 2024 24,880 2025 18,113 Thereafter 40,893 Total undiscounted cash flows $ 184,939 |
Leases | LEASES Operating Leases as a Lessee Our lease expense is a component of "Occupancy expense" on our condensed consolidated statements of earnings (loss). The following table presents the components of lease expense for the periods indicated: Three Months Ended March 31, 2021 2020 (In thousands) Operating lease expense: Fixed costs $ 8,496 $ 8,245 Variable costs 15 13 Short-term lease costs 256 92 Sublease income (1,099) (1,016) Net lease expense $ 7,668 $ 7,334 The following table presents supplemental cash flow information related to leases for the periods indicated: Three Months Ended March 31, 2021 2020 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,278 $ 8,236 ROU assets obtained in exchange for lease obligations: Operating leases $ 10,482 $ 4,560 The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated: March 31, December 31, 2021 2020 (Dollars in thousands) Operating leases: Operating lease right-of-use assets, net $ 122,372 $ 119,787 Operating lease liabilities $ 141,717 $ 139,501 Weighted average remaining lease term (in years) 5.6 5.8 Weighted average discount rate 2.40 % 2.54 % The following table presents the maturities of operating lease liabilities as of the date indicated: March 31, 2021 (In thousands) Period ending December 31, 2021 $ 26,769 2022 31,639 2023 28,718 2024 21,407 2025 14,596 Thereafter 29,017 Total operating lease liabilities 152,146 Less: Imputed interest (10,429) Present value of operating lease liabilities $ 141,717 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 the condensed 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 condensed 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 condensed consolidated statements of earnings (loss). The equipment is tested periodically for impairment. No impairment was recorded on "Equipment leased to others under operating leases" in the three months ended March 31, 2021 and 2020. The following table presents the rental payments to be received on operating leases as of the date indicated: March 31, 2021 (In thousands) Period ending December 31, 2021 $ 30,548 2022 39,884 2023 30,621 2024 24,880 2025 18,113 Thereafter 40,893 Total undiscounted cash flows $ 184,939 |
Borrowings and Subordinated Deb
Borrowings and Subordinated Debentures | 3 Months Ended |
Mar. 31, 2021 | |
Debt Disclosure [Abstract] | |
Borrowings and Subordinated Debentures | BORROWINGS AND SUBORDINATED DEBENTURES Borrowings The following table summarizes our borrowings as of the dates indicated: March 31, 2021 December 31, 2020 Weighted Weighted Average Average Balance Rate Balance Rate (Dollars in thousands) FHLB secured advances $ 5,000 — % $ 5,000 — % Other borrowings 14,750 6.50 % — — % Total borrowings $ 19,750 4.86 % $ 5,000 — % The other borrowings were assumed in connection with the Civic acquisition and have a weighted average remaining term of 5.5 months. 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 financing capacity with the FHLB as of March 31, 2021 of $3.5 billion, collateralized by a blanket lien on $5.0 billion of qualifying loans. The following table presents the interest rates and maturity dates of FHLB secured advances as of the dates indicated: March 31, 2021 December 31, 2020 Maturity Maturity Balance Rate Date Balance Rate Date (Dollars in thousands) FHLB term advance $ 5,000 — % 5/6/2021 $ 5,000 — % 5/6/2021 Other borrowing 8,125 6.50 % 9/1/2021 — — % — Other borrowing 6,625 6.50 % 10/1/2021 — — % — Total $ 19,750 4.86 % $ 5,000 — % FRBSF Secured Line of Credit. The Bank has a secured line of credit with the FRBSF. As of March 31, 2021, the Bank had secured borrowing capacity of $1.4 billion collateralized by liens covering $1.8 billion of qualifying loans. As of March 31, 2021 and December 31, 2020, there were no balances outstanding. FHLB Unsecured Line of Credit. The Bank has a $112.0 million unsecured line of credit with the FHLB for the purchase of overnight funds, of which there were no balances outstanding at March 31, 2021 and December 31, 2020. Federal Funds Arrangements with Commercial Banks. As of March 31, 2021, the Bank had unsecured lines of credit of $180.0 million in the aggregate with several correspondent banks for the purchase of overnight funds, subject to availability of funds. These lines are renewable annually and have no unused commitment fees. As of March 31, 2021 and December 31, 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 March 31, 2021 and December 31, 2020, there were no overnight borrowings outstanding. Subordinated Debentures The following table summarizes the terms of each issuance of subordinated debentures outstanding as of the dates indicated: March 31, 2021 December 31, 2020 Date Maturity Rate Index Series Balance Rate Balance Rate Issued Date (Quarterly Reset) (Dollars in thousands) Trust V $ 10,310 3.28 % $ 10,310 3.33 % 8/15/2003 9/17/2033 3-month LIBOR + 3.10 Trust VI 10,310 3.23 % 10,310 3.27 % 9/3/2003 9/15/2033 3-month LIBOR + 3.05 Trust CII 5,155 3.13 % 5,155 3.18 % 9/17/2003 9/17/2033 3-month LIBOR + 2.95 Trust VII 61,856 2.96 % 61,856 2.96 % 2/5/2004 4/23/2034 3-month LIBOR + 2.75 Trust CIII 20,619 1.87 % 20,619 1.91 % 8/15/2005 9/15/2035 3-month LIBOR + 1.69 Trust FCCI 16,495 1.78 % 16,495 1.82 % 1/25/2007 3/15/2037 3-month LIBOR + 1.60 Trust FCBI 10,310 1.73 % 10,310 1.77 % 9/30/2005 12/15/2035 3-month LIBOR + 1.55 Trust CS 2005-1 82,475 2.13 % 82,475 2.17 % 11/21/2005 12/15/2035 3-month LIBOR + 1.95 Trust CS 2005-2 128,866 2.16 % 128,866 2.16 % 12/14/2005 1/30/2036 3-month LIBOR + 1.95 Trust CS 2006-1 51,545 2.16 % 51,545 2.16 % 2/22/2006 4/30/2036 3-month LIBOR + 1.95 Trust CS 2006-2 51,550 2.16 % 51,550 2.16 % 9/27/2006 10/30/2036 3-month LIBOR + 1.95 Trust CS 2006-3 (1) 30,234 1.51 % 31,487 1.54 % 9/29/2006 10/30/2036 3-month EURIBOR + 2.05 Trust CS 2006-4 16,470 2.16 % 16,470 2.16 % 12/5/2006 1/30/2037 3-month LIBOR + 1.95 Trust CS 2006-5 6,650 2.16 % 6,650 2.16 % 12/19/2006 1/30/2037 3-month LIBOR + 1.95 Trust CS 2007-2 39,177 2.16 % 39,177 2.16 % 6/13/2007 7/30/2037 3-month LIBOR + 1.95 Gross subordinated debentures 542,022 2.23 % 543,275 2.24 % Unamortized discount (2) (76,208) (77,463) Net subordinated debentures $ 465,814 $ 465,812 ___________________ (1) Denomination is in Euros with a value of €25.8 million. (2) Amount represents the fair value adjustment on trust preferred securities assumed in acquisitions. |
Derivatives
Derivatives | 3 Months Ended |
Mar. 31, 2021 | |
Derivatives [Abstract] | |
Derivatives | DERIVATIVES The following table presents the U.S. dollar notional amounts and fair values of our derivative instruments included in the condensed consolidated balance sheets as of the dates indicated: March 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 $ 63,753 $ 937 $ 59,867 $ 1,028 Foreign exchange contracts 27,873 2,231 73,108 3,202 Interest rate and economic contracts 91,626 3,168 132,975 4,230 Equity warrant assets 23,089 4,589 24,081 4,520 Total $ 114,715 $ 7,757 $ 157,056 $ 8,750 Derivative Liabilities: Interest rate contracts $ 63,753 $ 831 $ 59,867 $ 1,004 Foreign exchange contracts 27,873 590 73,108 146 Total $ 91,626 $ 1,421 $ 132,975 $ 1,150 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES The following table presents a summary of commitments described below as of the dates indicated: March 31, December 31, 2021 2020 (In thousands) Loan commitments to extend credit $ 8,127,999 $ 7,601,390 Standby letters of credit 312,573 337,336 Commitments to contribute capital to SBICs and CRA-related loan pools 54,785 55,499 Total $ 8,495,357 $ 7,994,225 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 condensed 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. In addition, we 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 March 31, 2021 and December 31, 2020, we had commitments to contribute capital to these entities totaling $54.8 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 small business investment companies and CRA-related loan pools as of the date indicated: March 31, 2021 (In thousands) Period ending December 31, 2021 $ 27,393 2022 27,392 Total $ 54,785 Legal Matters In the ordinary course of our business, the Company is 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 currently available information, 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 | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS The Company uses 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. For information regarding the valuation methodologies used to measure our assets recorded at fair value (under ASC Topic 820), and for estimating fair value for financial instruments not recorded at fair value (under ASC Topic 825, as amended by ASU 2016-01 and ASU 2018-03), see Note 1. Nature of Operations and Summary of Significant Accounting Policies, and Note 13. Fair Value Measurements, to the Consolidated Financial Statements of the Company's Form 10-K. 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 March 31, 2021, the fair value of these investments was $33.4 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 March 31, 2021 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available-for-sale: Municipal securities $ 1,646,054 $ — $ 1,646,054 $ — Agency commercial MBS 1,273,402 — 1,273,402 — Agency residential CMOs 1,108,828 — 1,108,828 — U.S. Treasury securities 491,358 491,358 — — Agency residential MBS 433,100 — 433,100 — Corporate debt securities 380,407 — 380,407 — Collateralized loan obligations 244,240 — 244,240 — Asset-backed securities 224,015 — 200,133 23,882 Private label residential CMOs 103,376 — 98,962 4,414 SBA securities 36,910 — 36,910 — Total securities available-for-sale $ 5,941,690 $ 491,358 $ 5,422,036 $ 28,296 Equity investments with readily determinable fair values $ 10,266 $ 10,266 $ — $ — Derivatives (1) : Equity warrants 4,589 — — 4,589 Interest rate and economic contracts 3,168 — 3,168 — Derivative liabilities 1,421 — 1,421 — 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: Agency commercial MBS $ 1,281,877 $ — $ 1,281,877 $ — Agency residential CMOs 1,219,880 — 1,219,880 — Municipal securities 1,531,617 — 1,531,617 — Agency residential MBS 341,074 — 341,074 — Asset-backed securities 249,503 — 223,778 25,725 Collateralized loan obligations 135,876 — 135,876 — Private label residential CMOs 116,946 — 112,299 4,647 SBA securities 41,627 — 41,627 — Corporate debt securities 311,889 — 311,889 — 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 Note 11. Derivatives . During the three months ended March 31, 2021, there was a $67,000 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 quantitative inputs and assumptions used to determine the fair values provided by our third party pricing service for our Level 3 private label residential CMOs and asset-backed securities available-for-sale measured at fair value on a recurring basis as of the date indicated: March 31, 2021 Private Label Residential CMOs Asset-Backed Securities Weighted Input or Weighted Range Average Range Average Unobservable Inputs of Inputs Input (1) of Inputs Input (2) Voluntary annual prepayment speeds 4.6% - 19.9% 11.5% 10.0% - 15.0% 12.1% Annual default rates (3) 0.3% - 18.2% 2.4% 2.0% 2.0% Loss severity rates (3) 16.9% - 80.4% 55.8% 60.0% 60.0% Discount rates 1.6% - 9.9% 6.8% 2.7% - 3.6% 2.8% ____________________ (1) Unobservable inputs for private label residential CMOs were weighted by the relative fair values of the instruments. (2) Voluntary annual prepayment speeds and discount rates for asset-backed securities were weighted by the relative fair values of the instruments. (3) Annual default rates and loss severity rates were the same for all of the asset-backed securities. The following table presents information about 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: March 31, 2021 Equity Warrants Weighted Range Average Unobservable Inputs of Inputs Input (1) Volatility 24.4% - 159.1% 30.1% Risk-free interest rate 0.0% - 0.9% 0.4% Remaining life assumption (in years) 0.08 - 4.98 2.91 ____________________ (1) Unobservable inputs for equity warrants were weighted by the relative fair values of the instruments. The following table summarizes activity for our Level 3 private label residential CMOs available-for-sale, asset-backed securities available-for-sale, and equity warrants measured at fair value on a recurring basis for the period indicated: Private Label Asset-Backed Equity Residential CMOs Securities Warrants (In thousands) Balance, December 31, 2020 $ 4,647 $ 25,725 $ 4,520 Total included in earnings 73 (22) 6,123 Total included in other comprehensive income (87) 16 — Issuances — — 57 Sales — — (6,044) Net settlements (219) (1,837) — Transfers to Level 1 (equity investments with readily determinable fair values) — — (67) Balance, March 31, 2021 $ 4,414 $ 23,882 $ 4,589 Unrealized net gains (losses) for the period included in other comprehensive income for securities held at quarter-end $ 1,007 $ 171 The following tables present assets measured at fair value on a non-recurring basis as of the dates indicated: Fair Value Measurement as of March 31, 2021 Measured on a Non-Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases (1) $ 24,440 $ — $ — $ 24,440 OREO 371 — — 371 Total non-recurring $ 24,811 $ — $ — $ 24,811 ______________________ (1) Includes nonaccrual loans and leases and performing TDRs with balances greater than $250,000. 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 (1) $ 102,274 $ — $ 4,160 $ 98,114 Total non-recurring $ 102,274 $ — $ 4,160 $ 98,114 _____________________ (1) Includes nonaccrual loans and leases and performing TDRs with balances greater than $250,000. The following table presents losses recognized on assets measured on a nonrecurring basis for the periods indicated: Three Months Ended Losses on Assets March 31, Measured on a Non-Recurring Basis 2021 2020 (In thousands) Individually evaluated loans and leases $ 702 $ 18,907 OREO 14 105 Total losses $ 716 $ 19,012 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: March 31, 2021 Valuation Unobservable Input or Weighted Asset Fair Value Technique Inputs Range Average (In thousands) Individually evaluated loans and leases $ 22,402 Discounted cash flows Discount rates 3.75% - 7.75% 6.30% Individually evaluated loans and leases 2,038 Third party appraisals No discounts Discount from OREO (1) 371 Third party appraisal appraisal 13.00% 13.00% Total non-recurring Level 3 $ 24,811 _____________________ (1) Relates to one REO at March 31, 2021. The following tables present carrying amounts and estimated fair values of certain financial instruments as of the dates indicated: March 31, 2021 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 177,199 $ 177,199 $ 177,199 $ — $ — Interest-earning deposits in financial institutions 5,517,667 5,517,667 5,517,667 — — Securities available-for-sale 5,941,690 5,941,690 491,358 5,422,036 28,296 Investment in FHLB stock 17,250 17,250 — 17,250 — Loans held for sale 25,554 26,975 — 26,975 — Loans and leases held for investment, net 18,686,783 19,312,854 — — 19,312,854 Equity warrants 4,589 4,589 — — 4,589 Interest rate and economic contracts 3,168 3,168 — 3,168 — Equity investments with readily determinable fair values 10,266 10,266 10,266 — — Servicing rights 3,942 3,942 — — 3,942 Financial Liabilities: Core deposits 25,576,348 25,576,348 — 25,576,348 — Non-core non-maturity deposits 1,162,590 1,162,590 — 1,162,590 — Time deposits 1,484,353 1,486,556 — 1,486,556 — Borrowings 19,750 20,185 — 20,185 — Subordinated debentures 465,814 448,273 — 448,273 — Derivative liabilities 1,421 1,421 — 1,421 — 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 warrants 4,520 4,520 — — 4,520 Interest rate and economic contracts 4,230 4,230 — 4,230 — Equity investments with readily determinable fair values 6,147 6,147 6,147 — — 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 debentures 465,812 448,036 — 448,036 — Derivative liabilities 1,150 1,150 — 1,150 — 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 March 31, 2021, the amounts that will actually be realized or paid at settlement or maturity of the instruments could be significantly different. |
Earnings (Loss) Per Share
Earnings (Loss) Per Share | 3 Months Ended |
Mar. 31, 2021 | |
Earnings Per Share [Abstract] | |
Earnings (Loss) Per Share | EARNINGS (LOSS) PER SHARE The following table presents the computations of basic and diluted net earnings (loss) per share for the periods indicated: Three Months Ended March 31, 2021 2020 (Dollars in thousands, except per share data) Basic Earnings (Loss) Per Share: Net earnings (loss) $ 150,406 $ (1,433,111) Less: Earnings allocated to unvested restricted stock (1) (2,355) (939) Net earnings (loss) allocated to common shares $ 148,051 $ (1,434,050) Weighted-average basic shares and unvested restricted stock outstanding 118,852 118,775 Less: Weighted-average unvested restricted stock outstanding (2,003) (1,495) Weighted-average basic shares outstanding 116,849 117,280 Basic earnings (loss) per share $ 1.27 $ (12.23) Diluted Earnings (Loss) Per Share: Net earnings (loss) allocated to common shares $ 148,051 $ (1,434,050) Weighted-average diluted shares outstanding 116,849 117,280 Diluted earnings (loss) per share $ 1.27 $ (12.23) ________________________ (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 | 3 Months Ended |
Mar. 31, 2021 | |
Revenue From Contracts With Customers [Abstract] | |
Revenue from Contracts with Customers | REVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregation of Revenue The following table presents interest income and noninterest income, the components of total revenue, as disclosed in the condensed consolidated statements of earnings (loss) and the related amounts which are from contracts with customers within the scope of ASC Topic 606, " Revenue from Contracts with Customers," for the periods indicated. As illustrated here, substantially all of our revenue is specifically excluded from the scope of ASC Topic 606. Three Months Ended March 31, 2021 2020 Total Revenue from Total Revenue from Recorded Contracts with Recorded Contracts with Revenue Customers Revenue Customers (In thousands) Total interest income $ 273,337 $ — $ 291,332 $ — Noninterest income: Service charges on deposit accounts 2,934 2,934 2,658 2,658 Other commissions and fees 9,158 2,857 9,721 4,154 Leased equipment income 11,354 — 12,251 — Gain on sale of loans 139 — 87 — Gain on sale of securities 101 — 182 — Other income 21,143 180 4,201 336 Total noninterest income 44,829 5,971 29,100 7,148 Total revenue $ 318,166 $ 5,971 $ 320,432 $ 7,148 The following table presents revenue from contracts with customers based on the timing of revenue recognition for the periods indicated: Three Months Ended March 31, 2021 2020 (In thousands) Products and services transferred at a point in time $ 2,997 $ 4,236 Products and services transferred over time 2,974 2,912 Total revenue from contracts with customers $ 5,971 $ 7,148 Contract Balances The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers as of the dates indicated: March 31, 2021 December 31, 2020 (In thousands) Receivables, which are included in "Other assets" $ 976 $ 1,046 Contract assets, which are included in "Other assets" $ — $ — Contract liabilities, which are included in "Accrued interest payable and other liabilities" $ 327 $ 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 three months ended March 31, 2021 due to revenue recognized that was included in the contract liability balance at the beginning of the period was $32,000 |
Stock-Based Compensation
Stock-Based Compensation | 3 Months Ended |
Mar. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Stock-Based Compensation | STOCK-BASED COMPENSATION The Company’s 2017 Stock Incentive Plan, or the 2017 Plan, permits stock-based compensation awards to officers, directors, employees, and consultants. The 2017 Plan authorized grants of stock-based compensation instruments to purchase or issue up to 4,000,000 shares of Company common stock. As of March 31, 2021, there were 990,570 sh ares available for grant under the 2017 Plan. Restricted Stock Restricted stock amortization totaled $6.4 million and $6.5 million for the three months ended March 31, 2021 and 2020. Such amounts are included in "Compensation expense" on the condensed consolidated statements of earnings (loss). The amount of unrecognized compensation expense related to unvested TRSAs and PRSUs as of March 31, 2021 totaled $67.2 million . Time-Based Restricted Stock Awards At March 31, 2021, there wer e 2,189,181 shar es of unvested TRSAs outstanding pursuant to the Company's 2017 Plan. The TRSAs generally vest ratably over a service period of three or four years from the date of the grant or immediately upon death of an employee. Compensation expense related to TRSAs is based on the fair value of the underlying award on the grant date and is recognized over the vesting period using the straight-line method. Performance-Based Restricted Stock Units At March 31, 2021, there were 531,333 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 shares underlying 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. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards | 3 Months Ended |
Mar. 31, 2021 | |
Recently Issued Accounting Standards [Abstract] | |
Recently Issued Accounting Standards | RECENTLY ISSUED ACCOUNTING STANDARDS 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 Update 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 is in the process of identifying and reviewing loans and other financial instruments that are impacted by the discontinuance of LIBOR and is planning to adopt this ASU in 2021. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | SUBSEQUENT EVENTS Homeowners Association Services Division Acquisition Announcement On April 1, 2021, PacWest announced that the Bank entered into a definitive agreement to acquire MUFG Union Bank, N.A.’s (“Union Bank”) Homeowners Association (“HOA”) Services Division. The Bank will acquire certain assets and assume certain liabilities related to the HOA Services Division for a premium of 5.9% on deposits plus the net book values of certain assumed assets and liabilities for aggregate cash consideration of approximately $250 million. The final amount of consideration to be paid will be based on balances at closing, which is expected to occur in the fourth quarter of 2021 subject to regulatory approvals and customary closing conditions. The HOA Services Division provides a full range of banking services to community management companies and their homeowners associations. This acquisition will significantly expand the Bank’s existing HOA banking practice, which provides lockbox, electronic receivables processing and other financial services to HOA management companies. This acquisition advances the Bank’s strategy to expand its product offerings to its customers and to diversify its revenue and funding sources. Management believes that the HOA business unit’s high quality, low-cost deposits will diversify the Bank’s existing core deposits and provide an attractive funding source in a rising interest rate environment. Union Bank’s HOA Services Division is a long-time provider of specialized HOA banking services to a national base of clients with approximately $4 billion in deposits. The existing management team and employees will transition with the HOA Services Division to the Bank in connection with the close of the acquisition. 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 discount and costs incurred in connection with the Notes offering amortize to interest expense over the term of the Notes. The Notes will qualify as Tier 2 capital for regulatory capital purposes. Common Stock Dividends On May 3, 2021, 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 May 28, 2021 to stockholders of record at the close of business on May 17, 2021. The Company has evaluated events that have occurred subsequent to March 31, 2021 and have concluded there are no other subsequent events that would require recognition in the accompanying condensed consolidated financial statements. |
Organization Organization (Poli
Organization Organization (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Significant Accounting Policies | Significant Accounting Policies Our accounting policies are described in Note 1. Nature of Operations and Summary of Significant Accounting Policies , of our audited consolidated financial statements included in our Annual R |
Recently Issued Accounting Standards | 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 condensed 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 condensed 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 condensed 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 Update 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 is in the process of identifying and reviewing loans and other financial instruments that are impacted by the discontinuance of LIBOR and is planning to adopt this ASU in 2021. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements. |
Basis of Presentation | Basis of Presentation |
Use of Estimates | Use of EstimatesWe have made a number of estimates and assumptions related to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period to prepare these condensed 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 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. |
Reclassifications | Reclassifications |
Fair Value Disclosures (Policie
Fair Value Disclosures (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement, Policy | FAIR VALUE MEASUREMENTS The Company uses 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. For information regarding the valuation methodologies used to measure our assets recorded at fair value (under ASC Topic 820), and for estimating fair value for financial instruments not recorded at fair value (under ASC Topic 825, as amended by ASU 2016-01 and ASU 2018-03), see Note 1. Nature of Operations and Summary of Significant Accounting Policies, and Note 13. Fair Value Measurements, to the Consolidated Financial Statements of the Company's Form 10-K. 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 March 31, 2021, the fair value of these investments was $33.4 million. |
Business Combinations (Tables)
Business Combinations (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions, by Acquisition | 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 Date Acquired Civic Financial Services February 1, 2021 (In thousands) Assets Acquired: Cash and due from banks $ 37,328 Loans and leases 65,600 Premises and equipment 1,194 Goodwill 125,422 Customer relationship intangible 750 Other assets 77,725 Total assets acquired $ 308,019 Liabilities Assumed: Noninterest-bearing demand deposits $ 36,980 Borrowings 50,210 Accrued interest payable and other liabilities 61,592 Total liabilities assumed $ 148,782 Total consideration - paid in cash $ 159,237 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 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 and at March 31, 2021 had $289.5 million of loans outstanding. The Civic acquisition has been accounted for under the acquisition method of accounting. We acquired $308.0 million of assets and assumed $148.8 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. |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 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: March 31, 2021 December 31, 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) Municipal securities $ 1,589,855 $ 65,063 $ (8,864) $ 1,646,054 $ 1,438,004 $ 93,631 $ (18) $ 1,531,617 Agency commercial MBS 1,227,960 51,944 (6,502) 1,273,402 1,207,676 74,238 (37) 1,281,877 Agency residential CMOs 1,073,402 38,771 (3,345) 1,108,828 1,172,166 47,994 (280) 1,219,880 U.S. Treasury securities 500,902 276 (9,820) 491,358 4,989 313 — 5,302 Agency residential MBS 422,955 12,337 (2,192) 433,100 329,488 12,483 (897) 341,074 Corporate debt securities 377,280 5,674 (2,547) 380,407 308,803 3,490 (404) 311,889 Collateralized loan obligations 244,946 204 (910) 244,240 136,777 23 (924) 135,876 Asset-backed securities 222,709 1,848 (542) 224,015 248,739 1,534 (770) 249,503 Private label residential CMOs 98,958 4,728 (310) 103,376 110,891 6,076 (21) 116,946 SBA securities 35,726 1,218 (34) 36,910 39,437 2,217 (27) 41,627 Total $ 5,794,693 $ 182,063 $ (35,066) $ 5,941,690 $ 4,996,970 $ 241,999 $ (3,378) $ 5,235,591 |
Schedule of 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: Three Months Ended March 31, Sales of Securities Available-for-Sale 2021 2020 (In thousands) Amortized cost of securities sold $ 44,551 $ 14,766 Gross realized gains $ 101 $ 182 Net realized gains $ 101 $ 182 |
Unrealized losses on investment securities | 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: March 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) Municipal securities $ 446,081 $ (8,864) $ — $ — $ 446,081 $ (8,864) Agency commercial MBS 177,833 (6,502) — — 177,833 (6,502) Agency residential CMOs 148,694 (3,345) — — 148,694 (3,345) U.S. Treasury securities 486,092 (9,820) — — 486,092 (9,820) Agency residential MBS 186,057 (2,172) 1,330 (20) 187,387 (2,192) Corporate debt securities 150,214 (2,547) — — 150,214 (2,547) Collateralized loan obligations 82,027 (593) 48,694 (317) 130,721 (910) Asset-backed securities 27,843 (72) 44,246 (470) 72,089 (542) Private label residential CMOs 29,344 (308) 365 (2) 29,709 (310) SBA securities — — 1,917 (34) 1,917 (34) Total $ 1,734,185 $ (34,223) $ 96,552 $ (843) $ 1,830,737 $ (35,066) 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) 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) Agency residential MBS 90,722 (897) — — 90,722 (897) Corporate debt securities 87,596 (404) — — 87,596 (404) Collateralized loan obligations 96,442 (729) 28,972 (195) 125,414 (924) Asset-backed securities 17,694 (63) 61,031 (707) 78,725 (770) Private label residential CMOs 788 (19) 74 (2) 862 (21) 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 securities available-for-sale portfolio based on amortized cost and carrying value as of the date indicated: March 31, 2021 Amortized Fair Maturities Cost Value (In thousands) Due in one year or less $ 16,309 $ 16,075 Due after one year through five years 571,182 598,902 Due after five years through ten years 1,963,578 1,989,510 Due after ten years 3,243,624 3,337,203 Total securities available-for-sale $ 5,794,693 $ 5,941,690 |
Investment income | The following table presents the composition of our interest income on investment securities for the periods indicated: Three Months Ended March 31, 2021 2020 (In thousands) Taxable interest $ 21,970 $ 21,786 Non-taxable interest 8,078 5,229 Dividend income 217 431 Total interest income on investment securities $ 30,265 $ 27,446 |
Loans and Leases (Tables)
Loans and Leases (Tables) | 3 Months Ended |
Mar. 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: March 31, December 31, 2021 2020 (In thousands) Real estate mortgage $ 7,992,490 $ 7,905,193 Real estate construction and land 3,602,310 3,393,145 Commercial 7,120,049 7,534,801 Consumer 340,316 320,218 Total gross loans and leases held for investment 19,055,165 19,153,357 Deferred fees, net (75,937) (69,980) Total loans and leases held for investment, net of deferred fees 18,979,228 19,083,377 Allowance for loan and lease losses (292,445) (348,181) Total loans and leases held for investment, net (1) $ 18,686,783 $ 18,735,196 ____________________ (1) Excludes accrued interest receivable of $76.3 million and $79.7 million at March 31, 2021 and December 31, 2020, respectively, which is recorded in "Other assets" on the condensed 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: March 31, 2021 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 36 $ 25,833 $ 25,869 $ 3,915,741 $ 3,941,610 Income producing and other residential 6,502 1,052 7,554 4,038,049 4,045,603 Total real estate mortgage 6,538 26,885 33,423 7,953,790 7,987,213 Real estate construction and land: Commercial — — — 990,035 990,035 Residential 1,241 416 1,657 2,574,131 2,575,788 Total real estate construction and land 1,241 416 1,657 3,564,166 3,565,823 Commercial: Asset-based — 1,880 1,880 3,381,523 3,383,403 Venture capital 6,750 — 6,750 1,489,048 1,495,798 Other commercial 1,645 3,954 5,599 2,201,040 2,206,639 Total commercial 8,395 5,834 14,229 7,071,611 7,085,840 Consumer 954 288 1,242 339,110 340,352 Total $ 17,128 $ 33,423 $ 50,551 $ 18,928,677 $ 18,979,228 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, Nonaccrual | 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: March 31, 2021 December 31, 2020 Nonaccrual Performing Total Nonaccrual Performing Total (In thousands) Real estate mortgage: Commercial $ 46,436 $ 3,895,174 $ 3,941,610 $ 43,731 $ 4,052,940 $ 4,096,671 Income producing and other residential 2,471 4,043,132 4,045,603 1,826 3,801,439 3,803,265 Total real estate mortgage 48,907 7,938,306 7,987,213 45,557 7,854,379 7,899,936 Real estate construction and land: Commercial 302 989,733 990,035 315 1,116,806 1,117,121 Residential 416 2,575,372 2,575,788 — 2,243,160 2,243,160 Total real estate construction and land 718 3,565,105 3,565,823 315 3,359,966 3,360,281 Commercial: Asset-based 2,379 3,381,024 3,383,403 2,679 3,426,604 3,429,283 Venture capital 2,432 1,493,366 1,495,798 1,980 1,696,528 1,698,508 Other commercial 12,660 2,193,979 2,206,639 40,243 2,334,871 2,375,114 Total commercial 17,471 7,068,369 7,085,840 44,902 7,458,003 7,502,905 Consumer 556 339,796 340,352 389 319,866 320,255 Total $ 67,652 $ 18,911,576 $ 18,979,228 $ 91,163 $ 18,992,214 $ 19,083,377 |
CV of loans held for investment by class by performing and nonperforming | The following tables present the credit risk rating categories for loans and leases held for investment, net of deferred fees, 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. March 31, 2021 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 77,444 $ 254,463 $ 3,609,703 $ 3,941,610 Income producing and other residential 9,064 63,231 3,973,308 4,045,603 Total real estate mortgage 86,508 317,694 7,583,011 7,987,213 Real estate construction and land: Commercial 302 66,790 922,943 990,035 Residential 416 602 2,574,770 2,575,788 Total real estate construction and land 718 67,392 3,497,713 3,565,823 Commercial: Asset-based 24,941 142,122 3,216,340 3,383,403 Venture capital 8,727 89,423 1,397,648 1,495,798 Other commercial 41,597 13,535 2,151,507 2,206,639 Total commercial 75,265 245,080 6,765,495 7,085,840 Consumer 626 2,831 336,895 340,352 Total $ 163,117 $ 632,997 $ 18,183,114 $ 18,979,228 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 |
Finance Receivable Investment And Interest Income, Nonaccrual | 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 periods indicated: Three Months Three Months Ended Ended March 31, March 31, March 31, March 31, 2021 2021 2020 2020 Nonaccrual Interest Nonaccrual Interest Recorded Income Recorded Income Investment Recognized Investment Recognized (In thousands) With An Allowance Recorded: Real estate mortgage: Commercial $ 76 $ — $ 342 $ — Income producing and other residential 1,883 — 1,534 — Real estate construction and land: Residential 116 — — — Commercial: Asset based 1,880 — — — Venture capital 2,432 — 15,524 — Other commercial 1,655 — 28,782 — Consumer 556 — 413 — With No Related Allowance Recorded: Real estate mortgage: Commercial $ 46,360 $ 287 $ 18,746 $ 84 Income producing and other residential 588 — 774 — Real estate construction and land: Commercial 302 — 351 — Residential 300 — — — Commercial: Asset based 500 — 17,103 — Venture capital — — 3,089 — Other commercial 11,004 1,830 8,944 24 Total Loans and Leases With and Without an Allowance Recorded: Real estate mortgage $ 48,907 $ 287 $ 21,396 $ 84 Real estate construction and land 718 — 351 — Commercial 17,471 1,830 73,442 24 Consumer 556 — 413 — Total $ 67,652 $ 2,117 $ 95,602 $ 108 |
Finance Receivable, Loans By Origination Year | 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 dates indicated: Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term March 31, 2021 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Real Estate Mortgage: Commercial Internal risk rating: 1-2 High pass $ — $ 1,978 $ 1,646 $ 6,000 $ 13,343 $ 51,821 $ — $ — $ 74,788 3-4 Pass 38,810 569,953 417,291 544,055 671,985 1,226,120 51,358 15,343 3,534,915 5 Special mention — 2,609 84,720 95,272 7,199 64,663 — — 254,463 6-8 Classified — 504 1,221 5,684 12,234 57,801 — — 77,444 Total $ 38,810 $ 575,044 $ 504,878 $ 651,011 $ 704,761 $ 1,400,405 $ 51,358 $ 15,343 $ 3,941,610 Current YTD period: Gross charge-offs $ — $ — $ — $ 168 $ 45 $ 155 $ — $ — $ 368 Gross recoveries — — — — — (541) — — (541) Net $ — $ — $ — $ 168 $ 45 $ (386) $ — $ — $ (173) Real Estate Mortgage: Income Producing and Other Residential Internal risk rating: 1-2 High pass $ 1,505 $ 55,262 $ 42,358 $ 26,420 $ 26,984 $ 23,133 $ — $ — $ 175,662 3-4 Pass 285,757 532,473 849,901 955,726 529,270 390,100 254,127 292 3,797,646 5 Special mention — 12,465 4,207 43,022 950 1,725 236 626 63,231 6-8 Classified — 295 162 3,073 — 4,728 — 806 9,064 Total $ 287,262 $ 600,495 $ 896,628 $ 1,028,241 $ 557,204 $ 419,686 $ 254,363 $ 1,724 $ 4,045,603 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Gross recoveries — — — — — (4) — — (4) Net $ — $ — $ — $ — $ — $ (4) $ — $ — $ (4) Real Estate Construction and Land: Commercial Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass (2,226) 75,414 373,311 356,846 87,926 31,672 — — 922,943 5 Special mention — — — — 66,790 — — — 66,790 6-8 Classified — — — — — 302 — — 302 Total $ (2,226) $ 75,414 $ 373,311 $ 356,846 $ 154,716 $ 31,974 $ — $ — $ 990,035 Current YTD period: Gross charge-offs $ — $ — $ — $ 700 $ — $ — $ — $ — $ 700 Gross recoveries — — — — — — — — — Net $ — $ — $ — $ 700 $ — $ — $ — $ — $ 700 Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term March 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 226,803 500,914 805,652 746,717 208,155 22,446 9,034 55,049 2,574,770 5 Special mention — 208 — 394 — — — — 602 6-8 Classified — — — 416 — — — — 416 Total $ 226,803 $ 501,122 $ 805,652 $ 747,527 $ 208,155 $ 22,446 $ 9,034 $ 55,049 $ 2,575,788 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Gross recoveries — — — — — — — — — Net $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial: Asset-Based Internal risk rating: 1-2 High pass $ 12,602 $ 102,110 $ 168,477 $ 114,084 $ 67,281 $ 206,274 $ 368,179 $ 93,840 $ 1,132,847 3-4 Pass 27,273 115,743 72,835 69,778 31,463 34,991 1,699,103 32,307 2,083,493 5 Special mention — — 59,012 35,337 7,346 13,971 21,970 4,486 142,122 6-8 Classified — — — — — 19,936 5,905 (900) 24,941 Total $ 39,875 $ 217,853 $ 300,324 $ 219,199 $ 106,090 $ 275,172 $ 2,095,157 $ 129,733 $ 3,383,403 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Gross recoveries — — — — — (259) (9) — (268) Net $ — $ — $ — $ — $ — $ (259) $ (9) $ — $ (268) Commercial: Venture Capital Internal risk rating: 1-2 High pass $ — $ 1,999 $ (2) $ — $ (8) $ 46 $ 229,128 $ — $ 231,163 3-4 Pass 18,506 45,573 83,328 22,044 7,402 28,299 954,246 7,087 1,166,485 5 Special mention — 33,619 32,331 — — — 23,473 — 89,423 6-8 Classified — — (1,757) 4,200 — 1,757 2,095 2,432 8,727 Total $ 18,506 $ 81,191 $ 113,900 $ 26,244 $ 7,394 $ 30,102 $ 1,208,942 $ 9,519 $ 1,495,798 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ 620 $ — $ — $ 620 Gross recoveries — — — (13) (35) (9) — — (57) Net $ — $ — $ — $ (13) $ (35) $ 611 $ — $ — $ 563 ____________________ (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 March 31, 2021 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Commercial: Other Commercial Internal risk rating: 1-2 High pass $ 358,071 $ 721,033 $ 332 $ 5 $ 323 $ 1,311 $ 70,251 $ 823 $ 1,152,149 3-4 Pass 21,651 87,985 88,030 89,633 73,382 101,353 530,578 6,746 999,358 5 Special mention — — 36 2,130 432 10,329 27 581 13,535 6-8 Classified 2,042 2 586 26 24 5,534 27,761 5,622 41,597 Total $ 381,764 $ 809,020 $ 88,984 $ 91,794 $ 74,161 $ 118,527 $ 628,617 $ 13,772 $ 2,206,639 Current YTD period: Gross charge-offs $ — $ — $ — $ 47 $ — $ 154 $ 53 $ 1,700 $ 1,954 Gross recoveries — — (9) — (31) (312) — (20) (372) Net $ — $ — $ (9) $ 47 $ (31) $ (158) $ 53 $ 1,680 $ 1,582 Consumer Internal risk rating: 1-2 High pass $ — $ 13 $ — $ 7 $ 11 $ — $ 756 $ — $ 787 3-4 Pass 55,959 40,665 96,356 55,328 32,871 48,345 6,480 104 336,108 5 Special mention — 85 530 1,376 417 423 — — 2,831 6-8 Classified — 22 266 — — 314 2 22 626 Total $ 55,959 $ 40,785 $ 97,152 $ 56,711 $ 33,299 $ 49,082 $ 7,238 $ 126 $ 340,352 Current YTD period: Gross charge-offs $ — $ — $ 95 $ 136 $ 83 $ 32 $ — $ — $ 346 Gross recoveries — — — — (3) (7) — — (10) Net $ — $ — $ 95 $ 136 $ 80 $ 25 $ — $ — $ 336 Total Loans and Leases Internal risk rating: 1-2 High pass $ 372,178 $ 882,395 $ 212,811 $ 146,516 $ 107,934 $ 282,585 $ 668,314 $ 94,663 $ 2,767,396 3-4 Pass 672,533 1,968,720 2,786,704 2,840,127 1,642,454 1,883,326 3,504,926 116,928 15,415,718 5 Special mention — 48,986 180,836 177,531 83,134 91,111 45,706 5,693 632,997 6-8 Classified 2,042 823 478 13,399 12,258 90,372 35,763 7,982 163,117 Total $ 1,046,753 $ 2,900,924 $ 3,180,829 $ 3,177,573 $ 1,845,780 $ 2,347,394 $ 4,254,709 $ 225,266 $ 18,979,228 Current YTD period: Gross charge-offs $ — $ — $ 95 $ 1,051 $ 128 $ 961 $ 53 $ 1,700 $ 3,988 Gross recoveries — — (9) (13) (69) (1,132) (9) (20) (1,252) Net $ — $ — $ 86 $ 1,038 $ 59 $ (171) $ 44 $ 1,680 $ 2,736 ______________________ (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. |
Troubled debt restructurings on financing receivables | The following table presents our troubled debt restructurings of loans held for investment by loan portfolio segment and class for the periods indicated: Three Months Ended March 31, 2021 2020 Pre- Post- Pre- Post- Modification Modification Modification Modification Number Outstanding Outstanding Number Outstanding Outstanding of Recorded Recorded of Recorded Recorded Troubled Debt Restructurings Loans Investment Investment Loans Investment Investment (Dollars in thousands) Real estate mortgage: Commercial 1 $ 647 $ — — $ — $ — Income producing and other residential 2 266 266 — — — Commercial: Asset-based 1 503 503 4 1,741 1,741 Venture capital 3 4,502 2,529 2 2,047 2,047 Other commercial 12 32,250 14,276 15 22,165 20,389 Consumer 1 20 20 — — — Total 20 $ 38,188 $ 17,594 21 $ 25,953 $ 24,177 |
Lease Income of Direct Financing Leases | The following table provides the components of leases receivable income for the periods indicated: Three Months Ended March 31, 2021 2020 (In thousands) Component of leases receivable income: Interest income on net investments in leases $ 2,080 $ 2,252 |
Assets and Liabilities, Lessor | The following table presents the components of leases receivable as of the dates indicated: March 31, 2021 December 31, 2020 (In thousands) Net investment in direct financing leases: Lease payments receivable $ 149,830 $ 158,740 Unguaranteed residual assets 20,751 19,303 Deferred costs and other 1,010 996 Aggregate net investment in leases $ 171,591 $ 179,039 |
Sales-type and Direct Financing Leases, Lease Receivable, Maturity | The following table presents maturities of leases receivable as of the date indicated: March 31, 2021 (In thousands) Period ending December 31, 2021 $ 54,990 2022 40,450 2023 27,725 2024 22,090 2025 10,167 Thereafter 7,675 Total undiscounted cash flows 163,097 Less: Unearned income (13,267) Present value of lease payments $ 149,830 |
Finance Receivable, 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 periods indicated: Three Months Ended March 31, 2021 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of period $ 138,342 $ 78,356 $ 126,403 $ 5,080 $ 348,181 Charge-offs (368) (700) (2,574) (346) (3,988) Recoveries 545 — 697 10 1,252 Net charge-offs 177 (700) (1,877) (336) (2,736) Provision 2,603 (10,881) (45,810) 1,088 (53,000) Balance, end of period $ 141,122 $ 66,775 $ 78,716 $ 5,832 $ 292,445 Ending Allowance by Evaluation Methodology: Individually evaluated $ 220 $ — $ 1,581 $ — $ 1,801 Collectively evaluated $ 140,902 $ 66,775 $ 77,135 $ 5,832 $ 290,644 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 52,823 $ 2,047 $ 35,285 $ — $ 90,155 Collectively evaluated 7,934,390 3,563,776 7,050,555 340,352 18,889,073 Ending balance $ 7,987,213 $ 3,565,823 $ 7,085,840 $ 340,352 $ 18,979,228 Three Months Ended March 31, 2020 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of period $ 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 (500) — (19,232) (473) (20,205) Recoveries 124 — 955 16 1,095 Net charge-offs (376) — (18,277) (457) (19,110) Provision 41,865 18,221 37,459 455 98,000 Balance, end of period $ 91,372 $ 40,173 $ 87,570 $ 2,177 $ 221,292 Ending Allowance by Evaluation Methodology: Individually evaluated $ 230 $ — $ 6,462 $ — $ 6,692 Collectively evaluated $ 91,142 $ 40,173 $ 81,108 $ 2,177 $ 214,600 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 25,901 $ 1,816 $ 72,280 $ — $ 99,997 Collectively evaluated 7,983,043 2,878,437 8,353,944 429,884 19,645,308 Ending balance $ 8,008,944 $ 2,880,253 $ 8,426,224 $ 429,884 $ 19,745,305 |
Collateral-dependent Finance Receivable | The following table summarizes collateral-dependent loans held for investment by collateral type as of the following dates: March 31, 2021 December 31, 2020 Real Business Real Business Property Assets Total Property Assets Total (In thousands) Real estate mortgage $ 46,767 $ — $ 46,767 $ 43,656 $ — $ 43,656 Real estate construction and land 2,047 — 2,047 1,766 — 1,766 Commercial — 4,577 4,577 — 31,100 31,100 Total $ 48,814 $ 4,577 $ 53,391 $ 45,422 $ 31,100 $ 76,522 |
Allowance for credit losses on financing receivables | 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 periods indicated: Three Months Ended March 31, 2021 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of period $ 348,181 $ 85,571 $ 433,752 Charge-offs (3,988) — (3,988) Recoveries 1,252 — 1,252 Net charge-offs (2,736) — (2,736) Provision (53,000) 5,000 (48,000) Balance, end of period $ 292,445 $ 90,571 $ 383,016 Three Months Ended March 31, 2020 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of period $ 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 (20,205) — (20,205) Recoveries 1,095 — 1,095 Net charge-offs (19,110) — (19,110) Provision 98,000 14,000 112,000 Balance, end of period $ 221,292 $ 53,571 $ 274,863 |
Foreclosed Assets (Tables)
Foreclosed Assets (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Other Real Estate Owned Net Covered and NonCovered Including Foreclosed Assets [Abstract] | |
Other real estate and foreclosed assets | The following table summarizes foreclosed assets, net of the valuation allowance, as of the dates indicated: March 31, December 31, Property Type 2021 2020 (In thousands) Commercial real estate $ 13,612 $ 12,979 Construction and land development 219 219 Total other real estate owned, net 13,831 13,198 Other foreclosed assets 467 829 Total foreclosed assets, net $ 14,298 $ 14,027 |
Other foreclosed assets rollforward | The following table presents the changes in foreclosed assets, net of the valuation allowance, for the period indicated: Foreclosed Assets (In thousands) Balance, December 31, 2020 $ 14,027 Transfers to foreclosed assets from loans 647 Provision for losses (14) Reductions related to sales (362) Balance, March 31, 2021 $ 14,298 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill | The following table presents the changes in the carrying amount of goodwill for the period indicated: Goodwill (In thousands) Balance, December 31, 2020 $ 1,078,670 Addition from the Civic acquisition 125,422 Balance, March 31, 2021 $ 1,204,092 |
Intangible assets disclosure | The following table presents the changes in CDI and CRI and the related accumulated amortization for the periods indicated: Three Months Ended March 31, 2021 2020 (In thousands) Gross Amount of CDI and CRI: Balance, beginning of period $ 109,646 $ 117,573 Addition from Civic acquisition 750 — Fully amortized portion (9,846) — Balance, end of period 100,550 117,573 Accumulated Amortization: Balance, beginning of period (86,005) (79,179) Amortization expense (3,079) (3,948) Fully amortized portion 9,846 — Balance, end of period (79,238) (83,127) Net CDI and CRI, end of period $ 21,312 $ 34,446 |
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: March 31, 2021 (In thousands) Period ending December 31, 2021 $ 8,142 2022 7,672 2023 3,787 2024 1,711 Net CDI and CRI $ 21,312 |
Other Assets (Tables)
Other Assets (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Other Assets [Abstract] | |
Schedule of Other Assets | The following table presents the detail of our other assets as of the dates indicated: March 31, December 31, Other Assets 2021 2020 (In thousands) LIHTC investments $ 216,285 $ 213,034 Cash surrender value of BOLI 204,177 203,031 Operating lease ROU assets, net (1) 122,372 119,787 Interest receivable 100,107 101,596 Equity investments without readily determinable fair values 34,441 34,304 Taxes receivable 33,744 59,565 SBIC investments 33,374 32,327 Prepaid expenses 21,384 22,999 Equity investments with readily determinable fair values 10,266 6,147 Equity warrants (2) 4,589 4,520 Other receivables/assets 102,914 63,016 Total other assets $ 883,653 $ 860,326 ____________________ (1) See Note 9. Leases for further details regarding the operating lease ROU assets. (2) See Note 11. Derivatives for information regarding equity warrants. |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Leases [Abstract] | |
Schedule of Occupancy Expense and Supplemental Cash Flow Information Related to Operating Leases | Our lease expense is a component of "Occupancy expense" on our condensed consolidated statements of earnings (loss). The following table presents the components of lease expense for the periods indicated: Three Months Ended March 31, 2021 2020 (In thousands) Operating lease expense: Fixed costs $ 8,496 $ 8,245 Variable costs 15 13 Short-term lease costs 256 92 Sublease income (1,099) (1,016) Net lease expense $ 7,668 $ 7,334 |
Schedule of Cash Flow, Supplemental Disclosures | The following table presents supplemental cash flow information related to leases for the periods indicated: Three Months Ended March 31, 2021 2020 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9,278 $ 8,236 ROU assets obtained in exchange for lease obligations: Operating leases $ 10,482 $ 4,560 |
Schedule of Supplemental Balance Sheet Information Related to Operating Leases | The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated: March 31, December 31, 2021 2020 (Dollars in thousands) Operating leases: Operating lease right-of-use assets, net $ 122,372 $ 119,787 Operating lease liabilities $ 141,717 $ 139,501 Weighted average remaining lease term (in years) 5.6 5.8 Weighted average discount rate 2.40 % 2.54 % |
Schedule of Maturities of Operating Leases | The following table presents the maturities of operating lease liabilities as of the date indicated: March 31, 2021 (In thousands) Period ending December 31, 2021 $ 26,769 2022 31,639 2023 28,718 2024 21,407 2025 14,596 Thereafter 29,017 Total operating lease liabilities 152,146 Less: Imputed interest (10,429) Present value of operating lease liabilities $ 141,717 |
Schedule of Payments to be Received on Operating Leases | The following table presents the rental payments to be received on operating leases as of the date indicated: March 31, 2021 (In thousands) Period ending December 31, 2021 $ 30,548 2022 39,884 2023 30,621 2024 24,880 2025 18,113 Thereafter 40,893 Total undiscounted cash flows $ 184,939 |
Borrowings and Subordinated D_2
Borrowings and Subordinated Debentures (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of debt | The following table summarizes our borrowings as of the dates indicated: March 31, 2021 December 31, 2020 Weighted Weighted Average Average Balance Rate Balance Rate (Dollars in thousands) FHLB secured advances $ 5,000 — % $ 5,000 — % Other borrowings 14,750 6.50 % — — % Total borrowings $ 19,750 4.86 % $ 5,000 — % |
Federal Home Loan Bank, Advances | The following table presents the interest rates and maturity dates of FHLB secured advances as of the dates indicated: March 31, 2021 December 31, 2020 Maturity Maturity Balance Rate Date Balance Rate Date (Dollars in thousands) FHLB term advance $ 5,000 — % 5/6/2021 $ 5,000 — % 5/6/2021 Other borrowing 8,125 6.50 % 9/1/2021 — — % — Other borrowing 6,625 6.50 % 10/1/2021 — — % — Total $ 19,750 4.86 % $ 5,000 — % |
Schedule of Subordinated Borrowing | The following table summarizes the terms of each issuance of subordinated debentures outstanding as of the dates indicated: March 31, 2021 December 31, 2020 Date Maturity Rate Index Series Balance Rate Balance Rate Issued Date (Quarterly Reset) (Dollars in thousands) Trust V $ 10,310 3.28 % $ 10,310 3.33 % 8/15/2003 9/17/2033 3-month LIBOR + 3.10 Trust VI 10,310 3.23 % 10,310 3.27 % 9/3/2003 9/15/2033 3-month LIBOR + 3.05 Trust CII 5,155 3.13 % 5,155 3.18 % 9/17/2003 9/17/2033 3-month LIBOR + 2.95 Trust VII 61,856 2.96 % 61,856 2.96 % 2/5/2004 4/23/2034 3-month LIBOR + 2.75 Trust CIII 20,619 1.87 % 20,619 1.91 % 8/15/2005 9/15/2035 3-month LIBOR + 1.69 Trust FCCI 16,495 1.78 % 16,495 1.82 % 1/25/2007 3/15/2037 3-month LIBOR + 1.60 Trust FCBI 10,310 1.73 % 10,310 1.77 % 9/30/2005 12/15/2035 3-month LIBOR + 1.55 Trust CS 2005-1 82,475 2.13 % 82,475 2.17 % 11/21/2005 12/15/2035 3-month LIBOR + 1.95 Trust CS 2005-2 128,866 2.16 % 128,866 2.16 % 12/14/2005 1/30/2036 3-month LIBOR + 1.95 Trust CS 2006-1 51,545 2.16 % 51,545 2.16 % 2/22/2006 4/30/2036 3-month LIBOR + 1.95 Trust CS 2006-2 51,550 2.16 % 51,550 2.16 % 9/27/2006 10/30/2036 3-month LIBOR + 1.95 Trust CS 2006-3 (1) 30,234 1.51 % 31,487 1.54 % 9/29/2006 10/30/2036 3-month EURIBOR + 2.05 Trust CS 2006-4 16,470 2.16 % 16,470 2.16 % 12/5/2006 1/30/2037 3-month LIBOR + 1.95 Trust CS 2006-5 6,650 2.16 % 6,650 2.16 % 12/19/2006 1/30/2037 3-month LIBOR + 1.95 Trust CS 2007-2 39,177 2.16 % 39,177 2.16 % 6/13/2007 7/30/2037 3-month LIBOR + 1.95 Gross subordinated debentures 542,022 2.23 % 543,275 2.24 % Unamortized discount (2) (76,208) (77,463) Net subordinated debentures $ 465,814 $ 465,812 ___________________ (1) Denomination is in Euros with a value of €25.8 million. (2) Amount represents the fair value adjustment on trust preferred securities assumed in acquisitions. |
Derivatives (Tables)
Derivatives (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Derivatives [Abstract] | |
Schedule of Derivative Instruments | The following table presents the U.S. dollar notional amounts and fair values of our derivative instruments included in the condensed consolidated balance sheets as of the dates indicated: March 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 $ 63,753 $ 937 $ 59,867 $ 1,028 Foreign exchange contracts 27,873 2,231 73,108 3,202 Interest rate and economic contracts 91,626 3,168 132,975 4,230 Equity warrant assets 23,089 4,589 24,081 4,520 Total $ 114,715 $ 7,757 $ 157,056 $ 8,750 Derivative Liabilities: Interest rate contracts $ 63,753 $ 831 $ 59,867 $ 1,004 Foreign exchange contracts 27,873 590 73,108 146 Total $ 91,626 $ 1,421 $ 132,975 $ 1,150 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments disclosure | The following table presents a summary of commitments described below as of the dates indicated: March 31, December 31, 2021 2020 (In thousands) Loan commitments to extend credit $ 8,127,999 $ 7,601,390 Standby letters of credit 312,573 337,336 Commitments to contribute capital to SBICs and CRA-related loan pools 54,785 55,499 Total $ 8,495,357 $ 7,994,225 |
Other Commitments | The following table presents the years in which commitments are expected to be paid for our commitments to contribute capital to small business investment companies and CRA-related loan pools as of the date indicated: March 31, 2021 (In thousands) Period ending December 31, 2021 $ 27,393 2022 27,392 Total $ 54,785 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair value, assets measured 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 March 31, 2021 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available-for-sale: Municipal securities $ 1,646,054 $ — $ 1,646,054 $ — Agency commercial MBS 1,273,402 — 1,273,402 — Agency residential CMOs 1,108,828 — 1,108,828 — U.S. Treasury securities 491,358 491,358 — — Agency residential MBS 433,100 — 433,100 — Corporate debt securities 380,407 — 380,407 — Collateralized loan obligations 244,240 — 244,240 — Asset-backed securities 224,015 — 200,133 23,882 Private label residential CMOs 103,376 — 98,962 4,414 SBA securities 36,910 — 36,910 — Total securities available-for-sale $ 5,941,690 $ 491,358 $ 5,422,036 $ 28,296 Equity investments with readily determinable fair values $ 10,266 $ 10,266 $ — $ — Derivatives (1) : Equity warrants 4,589 — — 4,589 Interest rate and economic contracts 3,168 — 3,168 — Derivative liabilities 1,421 — 1,421 — 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: Agency commercial MBS $ 1,281,877 $ — $ 1,281,877 $ — Agency residential CMOs 1,219,880 — 1,219,880 — Municipal securities 1,531,617 — 1,531,617 — Agency residential MBS 341,074 — 341,074 — Asset-backed securities 249,503 — 223,778 25,725 Collateralized loan obligations 135,876 — 135,876 — Private label residential CMOs 116,946 — 112,299 4,647 SBA securities 41,627 — 41,627 — Corporate debt securities 311,889 — 311,889 — 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 — |
Fair value, assets and liabilities measured on nonrecurring basis, valuation techniques | The following table presents information about quantitative inputs and assumptions used to determine the fair values provided by our third party pricing service for our Level 3 private label residential CMOs and asset-backed securities available-for-sale measured at fair value on a recurring basis as of the date indicated: March 31, 2021 Private Label Residential CMOs Asset-Backed Securities Weighted Input or Weighted Range Average Range Average Unobservable Inputs of Inputs Input (1) of Inputs Input (2) Voluntary annual prepayment speeds 4.6% - 19.9% 11.5% 10.0% - 15.0% 12.1% Annual default rates (3) 0.3% - 18.2% 2.4% 2.0% 2.0% Loss severity rates (3) 16.9% - 80.4% 55.8% 60.0% 60.0% Discount rates 1.6% - 9.9% 6.8% 2.7% - 3.6% 2.8% ____________________ (1) Unobservable inputs for private label residential CMOs were weighted by the relative fair values of the instruments. (2) Voluntary annual prepayment speeds and discount rates for asset-backed securities were weighted by the relative fair values of the instruments. (3) Annual default rates and loss severity rates were the same for all of the asset-backed securities. |
Fair value inputs, assets, quantitative information | The following table presents information about 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: March 31, 2021 Equity Warrants Weighted Range Average Unobservable Inputs of Inputs Input (1) Volatility 24.4% - 159.1% 30.1% Risk-free interest rate 0.0% - 0.9% 0.4% Remaining life assumption (in years) 0.08 - 4.98 2.91 ____________________ (1) Unobservable inputs for equity warrants were weighted by the relative fair values of the instruments. 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: March 31, 2021 Valuation Unobservable Input or Weighted Asset Fair Value Technique Inputs Range Average (In thousands) Individually evaluated loans and leases $ 22,402 Discounted cash flows Discount rates 3.75% - 7.75% 6.30% Individually evaluated loans and leases 2,038 Third party appraisals No discounts Discount from OREO (1) 371 Third party appraisal appraisal 13.00% 13.00% Total non-recurring Level 3 $ 24,811 _____________________ (1) Relates to one REO at March 31, 2021. |
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 available-for-sale, asset-backed securities available-for-sale, and equity warrants measured at fair value on a recurring basis for the period indicated: Private Label Asset-Backed Equity Residential CMOs Securities Warrants (In thousands) Balance, December 31, 2020 $ 4,647 $ 25,725 $ 4,520 Total included in earnings 73 (22) 6,123 Total included in other comprehensive income (87) 16 — Issuances — — 57 Sales — — (6,044) Net settlements (219) (1,837) — Transfers to Level 1 (equity investments with readily determinable fair values) — — (67) Balance, March 31, 2021 $ 4,414 $ 23,882 $ 4,589 Unrealized net gains (losses) for the period included in other comprehensive income for securities held at quarter-end $ 1,007 $ 171 |
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 March 31, 2021 Measured on a Non-Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases (1) $ 24,440 $ — $ — $ 24,440 OREO 371 — — 371 Total non-recurring $ 24,811 $ — $ — $ 24,811 ______________________ (1) Includes nonaccrual loans and leases and performing TDRs with balances greater than $250,000. 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 (1) $ 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 periods indicated: Three Months Ended Losses on Assets March 31, Measured on a Non-Recurring Basis 2021 2020 (In thousands) Individually evaluated loans and leases $ 702 $ 18,907 OREO 14 105 Total losses $ 716 $ 19,012 |
Fair value, by balance sheet grouping | The following tables present carrying amounts and estimated fair values of certain financial instruments as of the dates indicated: March 31, 2021 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 177,199 $ 177,199 $ 177,199 $ — $ — Interest-earning deposits in financial institutions 5,517,667 5,517,667 5,517,667 — — Securities available-for-sale 5,941,690 5,941,690 491,358 5,422,036 28,296 Investment in FHLB stock 17,250 17,250 — 17,250 — Loans held for sale 25,554 26,975 — 26,975 — Loans and leases held for investment, net 18,686,783 19,312,854 — — 19,312,854 Equity warrants 4,589 4,589 — — 4,589 Interest rate and economic contracts 3,168 3,168 — 3,168 — Equity investments with readily determinable fair values 10,266 10,266 10,266 — — Servicing rights 3,942 3,942 — — 3,942 Financial Liabilities: Core deposits 25,576,348 25,576,348 — 25,576,348 — Non-core non-maturity deposits 1,162,590 1,162,590 — 1,162,590 — Time deposits 1,484,353 1,486,556 — 1,486,556 — Borrowings 19,750 20,185 — 20,185 — Subordinated debentures 465,814 448,273 — 448,273 — Derivative liabilities 1,421 1,421 — 1,421 — 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 warrants 4,520 4,520 — — 4,520 Interest rate and economic contracts 4,230 4,230 — 4,230 — Equity investments with readily determinable fair values 6,147 6,147 6,147 — — 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 debentures 465,812 448,036 — 448,036 — Derivative liabilities 1,150 1,150 — 1,150 — |
Earnings (Loss) Per Share (Tabl
Earnings (Loss) Per Share (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Earnings Per Share [Abstract] | |
Net income per share | The following table presents the computations of basic and diluted net earnings (loss) per share for the periods indicated: Three Months Ended March 31, 2021 2020 (Dollars in thousands, except per share data) Basic Earnings (Loss) Per Share: Net earnings (loss) $ 150,406 $ (1,433,111) Less: Earnings allocated to unvested restricted stock (1) (2,355) (939) Net earnings (loss) allocated to common shares $ 148,051 $ (1,434,050) Weighted-average basic shares and unvested restricted stock outstanding 118,852 118,775 Less: Weighted-average unvested restricted stock outstanding (2,003) (1,495) Weighted-average basic shares outstanding 116,849 117,280 Basic earnings (loss) per share $ 1.27 $ (12.23) Diluted Earnings (Loss) Per Share: Net earnings (loss) allocated to common shares $ 148,051 $ (1,434,050) Weighted-average diluted shares outstanding 116,849 117,280 Diluted earnings (loss) per share $ 1.27 $ (12.23) ________________________ (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 (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Revenue From Contracts With Customers [Abstract] | |
Revenue From Contracts With Customers | As illustrated here, substantially all of our revenue is specifically excluded from the scope of ASC Topic 606. Three Months Ended March 31, 2021 2020 Total Revenue from Total Revenue from Recorded Contracts with Recorded Contracts with Revenue Customers Revenue Customers (In thousands) Total interest income $ 273,337 $ — $ 291,332 $ — Noninterest income: Service charges on deposit accounts 2,934 2,934 2,658 2,658 Other commissions and fees 9,158 2,857 9,721 4,154 Leased equipment income 11,354 — 12,251 — Gain on sale of loans 139 — 87 — Gain on sale of securities 101 — 182 — Other income 21,143 180 4,201 336 Total noninterest income 44,829 5,971 29,100 7,148 Total revenue $ 318,166 $ 5,971 $ 320,432 $ 7,148 The following table presents revenue from contracts with customers based on the timing of revenue recognition for the periods indicated: Three Months Ended March 31, 2021 2020 (In thousands) Products and services transferred at a point in time $ 2,997 $ 4,236 Products and services transferred over time 2,974 2,912 Total revenue from contracts with customers $ 5,971 $ 7,148 |
Contract with Customer, Asset and Liability | The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers as of the dates indicated: March 31, 2021 December 31, 2020 (In thousands) Receivables, which are included in "Other assets" $ 976 $ 1,046 Contract assets, which are included in "Other assets" $ — $ — Contract liabilities, which are included in "Accrued interest payable and other liabilities" $ 327 $ 359 |
Recently Issued Accounting St_2
Recently Issued Accounting Standards (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Recently Issued Accounting Standards [Abstract] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | 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 Update 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 is in the process of identifying and reviewing loans and other financial instruments that are impacted by the discontinuance of LIBOR and is planning to adopt this ASU in 2021. The adoption of this guidance is not expected to have a material impact on the Company’s consolidated financial statements. |
Organization - Narrative (Detai
Organization - Narrative (Details) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2021USD ($)bank_branch | Dec. 31, 2020USD ($) | Mar. 31, 2020USD ($) | Jan. 01, 2020USD ($) | Dec. 31, 2019USD ($) | |
Business Acquisition [Line Items] | |||||
Retained earnings | $ | $ 559,797 | $ 409,391 | |||
Allowance for credit losses | $ | 383,016 | 433,752 | $ 274,863 | $ 181,973 | $ 174,646 |
Goodwill impairment | $ | $ 0 | $ 0 | $ 1,470,000 | ||
CALIFORNIA | |||||
Business Acquisition [Line Items] | |||||
Retail branch locations | bank_branch | 70 | ||||
NORTH CAROLINA | |||||
Business Acquisition [Line Items] | |||||
Retail branch locations | bank_branch | 1 | ||||
COLORADO | |||||
Business Acquisition [Line Items] | |||||
Retail branch locations | bank_branch | 1 |
Business Combinations (Details)
Business Combinations (Details) - USD ($) $ in Thousands | Feb. 01, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | |
Business Acquisition [Line Items] | ||||
Cash and due from banks | $ 177,199 | $ 150,464 | ||
Loans and leases, net | [1] | 18,686,783 | 18,735,196 | |
Premises and equipment, net | 39,622 | 39,234 | ||
Goodwill | 1,204,092 | 1,078,670 | ||
Finite Lived Core Deposits Customer Relations Net | 21,312 | 23,641 | ||
Other assets | 883,653 | 860,326 | ||
Assets | 32,856,533 | 29,498,442 | ||
Noninterest-bearing deposits | 11,017,462 | 9,193,827 | ||
Borrowings | 19,750 | 5,000 | ||
Accrued interest payable and other liabilities | 493,541 | 491,962 | ||
Liabilities | $ 29,202,396 | $ 25,903,491 | ||
Civic | ||||
Business Acquisition [Line Items] | ||||
Cash and due from banks | $ 37,328 | |||
Loans and leases, net | 65,600 | |||
Premises and equipment, net | 1,194 | |||
Goodwill | 125,422 | |||
Finite Lived Core Deposits Customer Relations Net | 750 | |||
Other assets | 77,725 | |||
Assets | 308,019 | |||
Noninterest-bearing deposits | 36,980 | |||
Borrowings | 50,210 | |||
Accrued interest payable and other liabilities | 61,592 | |||
Liabilities | 148,782 | |||
Business Combination, Consideration Transferred | $ 159,237 | |||
[1] | Excludes accrued interest receivable of $76.3 million and $79.7 million at March 31, 2021 and December 31, 2020, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets. |
Acquisition (Details)
Acquisition (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Feb. 01, 2021 | Dec. 31, 2020 |
Loans and Leases Receivable Disclosure [Line Items] | |||
Liabilities | $ 29,202,396 | $ 25,903,491 | |
Civic | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Business Combination, Acquired Receivable, Fair Value | $ 289,500 | ||
Liabilities | $ 148,782 |
Restricted Cash Balances - Narr
Restricted Cash Balances - Narrative (Details) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 |
Restricted Cash [Abstract] | ||
Restricted Cash and Cash Equivalents | $ 0 | $ 166.2 |
Pledged Cash for Derivative Contracts | $ 2.9 | $ 2.9 |
Investment Securities - Securit
Investment Securities - Securities Available for Sale (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Debt Securities, Available-for-sale [Line Items] | ||
Total securities available-for-sale | $ 5,794,693 | $ 4,996,970 |
Gross Unrealized Gains | 182,063 | 241,999 |
Gross Unrealized Losses | (35,066) | (3,378) |
Securities available-for-sale | 5,941,690 | 5,235,591 |
Government agency and government-sponsored enterprise pass through securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total securities available-for-sale | 1,227,960 | 1,207,676 |
Gross Unrealized Gains | 51,944 | 74,238 |
Gross Unrealized Losses | (6,502) | (37) |
Securities available-for-sale | 1,273,402 | 1,281,877 |
Government agency and government-sponsored enterprise collateralized mortgage obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total securities available-for-sale | 1,073,402 | 1,172,166 |
Gross Unrealized Gains | 38,771 | 47,994 |
Gross Unrealized Losses | (3,345) | (280) |
Securities available-for-sale | 1,108,828 | 1,219,880 |
Municipal securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total securities available-for-sale | 1,589,855 | 1,438,004 |
Gross Unrealized Gains | 65,063 | 93,631 |
Gross Unrealized Losses | (8,864) | (18) |
Securities available-for-sale | 1,646,054 | 1,531,617 |
Agency residential MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total securities available-for-sale | 422,955 | 329,488 |
Gross Unrealized Gains | 12,337 | 12,483 |
Gross Unrealized Losses | (2,192) | (897) |
Securities available-for-sale | 433,100 | 341,074 |
Asset-backed Securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total securities available-for-sale | 222,709 | 248,739 |
Gross Unrealized Gains | 1,848 | 1,534 |
Gross Unrealized Losses | (542) | (770) |
Securities available-for-sale | 224,015 | 249,503 |
Collateralized loan obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total securities available-for-sale | 244,946 | 136,777 |
Gross Unrealized Gains | 204 | 23 |
Gross Unrealized Losses | (910) | (924) |
Securities available-for-sale | 244,240 | 135,876 |
Private label collateralized mortgage obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total securities available-for-sale | 98,958 | 110,891 |
Gross Unrealized Gains | 4,728 | 6,076 |
Gross Unrealized Losses | (310) | (21) |
Securities available-for-sale | 103,376 | 116,946 |
SBA asset-backed securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total securities available-for-sale | 35,726 | 39,437 |
Gross Unrealized Gains | 1,218 | 2,217 |
Gross Unrealized Losses | (34) | (27) |
Securities available-for-sale | 36,910 | 41,627 |
Corporate debt securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total securities available-for-sale | 377,280 | 308,803 |
Gross Unrealized Gains | 5,674 | 3,490 |
Gross Unrealized Losses | (2,547) | (404) |
Securities available-for-sale | 380,407 | 311,889 |
U.S. Treasury securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total securities available-for-sale | 500,902 | 4,989 |
Gross Unrealized Gains | 276 | 313 |
Gross Unrealized Losses | (9,820) | 0 |
Securities available-for-sale | $ 491,358 | $ 5,302 |
Investment Securities - Realize
Investment Securities - Realized Gains and Losses on Securities Available-for-Sale (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |||
Available For Sale Investment Securities, Sold At Amortized Cost | $ 44,551 | $ 14,766 | |
Available-for-sale Securities, Gross Realized Gains | 101 | 182 | |
Gain on sale of securities | $ 101 | $ 4 | $ 182 |
Investment Securities - Unreali
Investment Securities - Unrealized Losses on Securities Available-for-Sale (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Fair Value | $ 1,734,185 | $ 457,559 |
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Gross Unrealized Losses | (34,223) | (2,474) |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Fair Value | 96,552 | 90,077 |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Gross Unrealized Losses | (843) | (904) |
Unrealized Losses on Securities Available-for-Sale, Fair Value | 1,830,737 | 547,636 |
Unrealized Losses on Securities Available-for-Sale, Gross Unrealized Losses | (35,066) | (3,378) |
Government agency and government-sponsored enterprise pass through securities | ||
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Fair Value | 177,833 | 90,722 |
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Gross Unrealized Losses | (6,502) | (897) |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Fair Value | 0 | 0 |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Gross Unrealized Losses | 0 | 0 |
Unrealized Losses on Securities Available-for-Sale, Fair Value | 177,833 | 90,722 |
Unrealized Losses on Securities Available-for-Sale, Gross Unrealized Losses | (6,502) | (897) |
Government agency and government-sponsored enterprise collateralized mortgage obligations | ||
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Fair Value | 148,694 | 97,863 |
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Gross Unrealized Losses | (3,345) | (280) |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Fair Value | 0 | 0 |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Gross Unrealized Losses | 0 | 0 |
Unrealized Losses on Securities Available-for-Sale, Fair Value | 148,694 | 97,863 |
Unrealized Losses on Securities Available-for-Sale, Gross Unrealized Losses | (3,345) | (280) |
Municipal securities | ||
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Fair Value | 446,081 | 5,919 |
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Gross Unrealized Losses | (8,864) | (18) |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Fair Value | 0 | 0 |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Gross Unrealized Losses | 0 | 0 |
Unrealized Losses on Securities Available-for-Sale, Fair Value | 446,081 | 5,919 |
Unrealized Losses on Securities Available-for-Sale, Gross Unrealized Losses | (8,864) | (18) |
Government agency and government-sponsored enterprise commercial mortgage-backed securities | ||
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Fair Value | 186,057 | 58,408 |
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Gross Unrealized Losses | (2,172) | (37) |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Fair Value | 1,330 | 0 |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Gross Unrealized Losses | (20) | 0 |
Unrealized Losses on Securities Available-for-Sale, Fair Value | 187,387 | 58,408 |
Unrealized Losses on Securities Available-for-Sale, Gross Unrealized Losses | (2,192) | (37) |
Asset-backed Securities | ||
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Fair Value | 27,843 | 17,694 |
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Gross Unrealized Losses | (72) | (63) |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Fair Value | 44,246 | 61,031 |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Gross Unrealized Losses | (470) | (707) |
Unrealized Losses on Securities Available-for-Sale, Fair Value | 72,089 | 78,725 |
Unrealized Losses on Securities Available-for-Sale, Gross Unrealized Losses | (542) | (770) |
Collateralized loan obligations | ||
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Fair Value | 82,027 | 96,442 |
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Gross Unrealized Losses | (593) | (729) |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Fair Value | 48,694 | 28,972 |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Gross Unrealized Losses | (317) | (195) |
Unrealized Losses on Securities Available-for-Sale, Fair Value | 130,721 | 125,414 |
Unrealized Losses on Securities Available-for-Sale, Gross Unrealized Losses | (910) | (924) |
Private label collateralized mortgage obligations | ||
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Fair Value | 29,344 | 788 |
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Gross Unrealized Losses | (308) | (19) |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Fair Value | 365 | 74 |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Gross Unrealized Losses | (2) | (2) |
Unrealized Losses on Securities Available-for-Sale, Fair Value | 29,709 | 862 |
Unrealized Losses on Securities Available-for-Sale, Gross Unrealized Losses | (310) | (21) |
SBA asset-backed securities | ||
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Fair Value | 0 | 2,127 |
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Gross Unrealized Losses | 0 | (27) |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Fair Value | 1,917 | 0 |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Gross Unrealized Losses | (34) | 0 |
Unrealized Losses on Securities Available-for-Sale, Fair Value | 1,917 | 2,127 |
Unrealized Losses on Securities Available-for-Sale, Gross Unrealized Losses | (34) | (27) |
Corporate debt securities | ||
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Fair Value | 150,214 | 87,596 |
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Gross Unrealized Losses | (2,547) | (404) |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Fair Value | 0 | 0 |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Gross Unrealized Losses | 0 | 0 |
Unrealized Losses on Securities Available-for-Sale, Fair Value | 150,214 | 87,596 |
Unrealized Losses on Securities Available-for-Sale, Gross Unrealized Losses | (2,547) | $ (404) |
U.S. Treasury securities | ||
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Fair Value | 486,092 | |
Unrealized Losses on Securities Available-for-Sale, Less than 12 Months, Gross Unrealized Losses | (9,820) | |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Fair Value | 0 | |
Unrealized Losses on Securities Available-for-Sale, 12 Months or Longer, Gross Unrealized Losses | 0 | |
Unrealized Losses on Securities Available-for-Sale, Fair Value | 486,092 | |
Unrealized Losses on Securities Available-for-Sale, Gross Unrealized Losses | $ (9,820) |
Investment Securities - Contrac
Investment Securities - Contractual Maturities of Securities Available-for-Sale (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Amortized Cost | ||
Due in one year or less | $ 16,309 | |
Due after one year through five years | 571,182 | |
Due after five years through ten years | 1,963,578 | |
Due after ten years | 3,243,624 | |
Total securities available-for-sale | 5,794,693 | $ 4,996,970 |
Fair Value | ||
Due in one year or less | 16,075 | |
Due after one year through five years | 598,902 | |
Due after five years through ten years | 1,989,510 | |
Due after ten years | 3,337,203 | |
Total securities available-for-sale | $ 5,941,690 | $ 5,235,591 |
Investment Securities - Interes
Investment Securities - Interest Income on Investment Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Investments, Debt and Equity Securities [Abstract] | ||
Taxable interest | $ 21,970 | $ 21,786 |
Non-taxable interest | 8,078 | 5,229 |
Dividend income | 217 | 431 |
Total interest income on investment securities | $ 30,265 | $ 27,446 |
Investment Securities - Narrati
Investment Securities - Narrative (Details) $ in Millions | Mar. 31, 2021USD ($) |
Investments, Debt and Equity Securities [Abstract] | |
AFS securities pledged as collateral | $ 488 |
Loans and Leases - Loans and Le
Loans and Leases - Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | |
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Gross loans and leases held for investment | $ 19,055,165 | $ 19,153,357 | ||||
Deferred fees, net | (75,937) | (69,980) | ||||
Loans held for investment, net | 18,979,228 | 19,083,377 | $ 19,745,305 | |||
Allowance for loan and lease losses | (292,445) | (348,181) | (221,292) | $ (142,402) | $ (138,785) | |
Total loans and leases held for investment, net | [1] | 18,686,783 | 18,735,196 | |||
Real Estate Mortgage | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Gross loans and leases held for investment | 7,992,490 | 7,905,193 | ||||
Loans held for investment, net | 7,987,213 | 7,899,936 | 8,008,944 | |||
Allowance for loan and lease losses | (141,122) | (138,342) | (91,372) | (49,883) | (44,575) | |
Real Estate Construction and Land | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Gross loans and leases held for investment | 3,602,310 | 3,393,145 | ||||
Loans held for investment, net | 3,565,823 | 3,360,281 | 2,880,253 | |||
Allowance for loan and lease losses | (66,775) | (78,356) | (40,173) | (21,952) | (30,544) | |
Commercial | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Gross loans and leases held for investment | 7,120,049 | 7,534,801 | ||||
Loans held for investment, net | 7,085,840 | 7,502,905 | 8,426,224 | |||
Allowance for loan and lease losses | (78,716) | (126,403) | (87,570) | (68,388) | (61,528) | |
Consumer | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Gross loans and leases held for investment | 340,316 | 320,218 | ||||
Loans held for investment, net | 340,352 | 320,255 | 429,884 | |||
Allowance for loan and lease losses | (5,832) | (5,080) | $ (2,177) | $ (2,179) | $ (2,138) | |
Loans and Finance Receivables [Member] | ||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||
Interest Receivable | $ 76,300 | $ 79,700 | ||||
[1] | Excludes accrued interest receivable of $76.3 million and $79.7 million at March 31, 2021 and December 31, 2020, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets. |
Loans and Leases - Aging Analys
Loans and Leases - Aging Analysis of Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 |
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | $ 50,551 | $ 48,755 | |
30-89 Days Past Due | 17,128 | 12,232 | |
90 or More Days Past Due | 33,423 | 36,523 | |
Current | 18,928,677 | 19,034,622 | |
Loans held for investment, net | 18,979,228 | 19,083,377 | $ 19,745,305 |
Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 33,423 | 36,868 | |
30-89 Days Past Due | 6,538 | 7,350 | |
90 or More Days Past Due | 26,885 | 29,518 | |
Current | 7,953,790 | 7,863,068 | |
Loans held for investment, net | 7,987,213 | 7,899,936 | 8,008,944 |
Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 1,657 | 759 | |
30-89 Days Past Due | 1,241 | 759 | |
90 or More Days Past Due | 416 | 0 | |
Current | 3,564,166 | 3,359,522 | |
Loans held for investment, net | 3,565,823 | 3,360,281 | 2,880,253 |
Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 14,229 | 9,757 | |
30-89 Days Past Due | 8,395 | 2,863 | |
90 or More Days Past Due | 5,834 | 6,894 | |
Current | 7,071,611 | 7,493,148 | |
Loans held for investment, net | 7,085,840 | 7,502,905 | 8,426,224 |
Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 1,242 | 1,371 | |
30-89 Days Past Due | 954 | 1,260 | |
90 or More Days Past Due | 288 | 111 | |
Current | 339,110 | 318,884 | |
Loans held for investment, net | 340,352 | 320,255 | $ 429,884 |
Asset-based | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 1,880 | 2,128 | |
30-89 Days Past Due | 0 | 0 | |
90 or More Days Past Due | 1,880 | 2,128 | |
Current | 3,381,523 | 3,427,155 | |
Loans held for investment, net | 3,383,403 | 3,429,283 | |
Venture Capital Loans | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 6,750 | 540 | |
30-89 Days Past Due | 6,750 | 540 | |
90 or More Days Past Due | 0 | 0 | |
Current | 1,489,048 | 1,697,968 | |
Loans held for investment, net | 1,495,798 | 1,698,508 | |
Other Commercial | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 5,599 | 7,089 | |
30-89 Days Past Due | 1,645 | 2,323 | |
90 or More Days Past Due | 3,954 | 4,766 | |
Current | 2,201,040 | 2,368,025 | |
Loans held for investment, net | 2,206,639 | 2,375,114 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 0 | 0 | |
30-89 Days Past Due | 0 | 0 | |
90 or More Days Past Due | 0 | 0 | |
Current | 990,035 | 1,117,121 | |
Loans held for investment, net | 990,035 | 1,117,121 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 1,657 | 759 | |
30-89 Days Past Due | 1,241 | 759 | |
90 or More Days Past Due | 416 | 0 | |
Current | 2,574,131 | 2,242,401 | |
Loans held for investment, net | 2,575,788 | 2,243,160 | |
Commercial | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 25,869 | 35,895 | |
30-89 Days Past Due | 36 | 6,750 | |
90 or More Days Past Due | 25,833 | 29,145 | |
Current | 3,915,741 | 4,060,776 | |
Loans held for investment, net | 3,941,610 | 4,096,671 | |
Residential Real Estate | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Total Past Due | 7,554 | 973 | |
30-89 Days Past Due | 6,502 | 600 | |
90 or More Days Past Due | 1,052 | 373 | |
Current | 4,038,049 | 3,802,292 | |
Loans held for investment, net | $ 4,045,603 | $ 3,803,265 |
Loans and Leases - Nonaccrual a
Loans and Leases - Nonaccrual and Performing Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 |
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | $ 67,652 | $ 91,163 | $ 95,602 |
Loans held for investment, net | 18,979,228 | 19,083,377 | 19,745,305 |
Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 48,907 | 45,557 | 21,396 |
Loans held for investment, net | 7,987,213 | 7,899,936 | 8,008,944 |
Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 718 | 315 | 351 |
Loans held for investment, net | 3,565,823 | 3,360,281 | 2,880,253 |
Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 17,471 | 44,902 | 73,442 |
Loans held for investment, net | 7,085,840 | 7,502,905 | 8,426,224 |
Consumer | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 556 | 389 | 413 |
Loans held for investment, net | 340,352 | 320,255 | $ 429,884 |
Performing | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 18,911,576 | 18,992,214 | |
Performing | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 7,938,306 | 7,854,379 | |
Performing | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 3,565,105 | 3,359,966 | |
Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 7,068,369 | 7,458,003 | |
Performing | Consumer | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 339,796 | 319,866 | |
Asset-based | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 2,379 | 2,679 | |
Loans held for investment, net | 3,383,403 | 3,429,283 | |
Asset-based | Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 3,381,024 | 3,426,604 | |
Venture Capital Loans | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 2,432 | 1,980 | |
Loans held for investment, net | 1,495,798 | 1,698,508 | |
Venture Capital Loans | Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 1,493,366 | 1,696,528 | |
Other Commercial | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 12,660 | 40,243 | |
Loans held for investment, net | 2,206,639 | 2,375,114 | |
Other Commercial | Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 2,193,979 | 2,334,871 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 302 | 315 | |
Loans held for investment, net | 990,035 | 1,117,121 | |
Commercial Real Estate Construction Loan Receivable | Performing | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 989,733 | 1,116,806 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 416 | 0 | |
Loans held for investment, net | 2,575,788 | 2,243,160 | |
Residential Real Estate Construction Financing Receivable | Performing | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 2,575,372 | 2,243,160 | |
Commercial | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 46,436 | 43,731 | |
Loans held for investment, net | 3,941,610 | 4,096,671 | |
Commercial | Performing | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 3,895,174 | 4,052,940 | |
Residential Real Estate | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 2,471 | 1,826 | |
Loans held for investment, net | 4,045,603 | 3,803,265 | |
Residential Real Estate | Performing | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | $ 4,043,132 | $ 3,801,439 |
Loans and Leases - Credit Risk
Loans and Leases - Credit Risk Rating Categories for Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 |
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | $ 18,979,228 | $ 19,083,377 | $ 19,745,305 |
Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 7,987,213 | 7,899,936 | 8,008,944 |
Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,565,823 | 3,360,281 | 2,880,253 |
Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 7,085,840 | 7,502,905 | 8,426,224 |
Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 340,352 | 320,255 | $ 429,884 |
Classified | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 163,117 | 265,262 | |
Classified | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 86,508 | 100,310 | |
Classified | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 718 | 42,558 | |
Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 75,265 | 121,932 | |
Classified | Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 626 | 462 | |
Special Mention | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 632,997 | 721,285 | |
Special Mention | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 317,694 | 323,846 | |
Special Mention | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 67,392 | 108,351 | |
Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 245,080 | 286,356 | |
Special Mention | Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,831 | 2,732 | |
Pass | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 18,183,114 | 18,096,830 | |
Pass | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 7,583,011 | 7,475,780 | |
Pass | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,497,713 | 3,209,372 | |
Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 6,765,495 | 7,094,617 | |
Pass | Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 336,895 | 317,061 | |
Asset-based | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,383,403 | 3,429,283 | |
Asset-based | Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 24,941 | 27,867 | |
Asset-based | Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 142,122 | 153,301 | |
Asset-based | Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,216,340 | 3,248,115 | |
Venture Capital Loans | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,495,798 | 1,698,508 | |
Venture Capital Loans | Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 8,727 | 6,508 | |
Venture Capital Loans | Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 89,423 | 118,125 | |
Venture Capital Loans | Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,397,648 | 1,573,875 | |
Other Commercial | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,206,639 | 2,375,114 | |
Other Commercial | Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 41,597 | 87,557 | |
Other Commercial | Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 13,535 | 14,930 | |
Other Commercial | Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,151,507 | 2,272,627 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 990,035 | 1,117,121 | |
Commercial Real Estate Construction Loan Receivable | Classified | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 302 | 42,558 | |
Commercial Real Estate Construction Loan Receivable | Special Mention | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 66,790 | 107,592 | |
Commercial Real Estate Construction Loan Receivable | Pass | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 922,943 | 966,971 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,575,788 | 2,243,160 | |
Residential Real Estate Construction Financing Receivable | Classified | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 416 | 0 | |
Residential Real Estate Construction Financing Receivable | Special Mention | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 602 | 759 | |
Residential Real Estate Construction Financing Receivable | Pass | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,574,770 | 2,242,401 | |
Commercial | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,941,610 | 4,096,671 | |
Commercial | Classified | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 77,444 | 91,543 | |
Commercial | Special Mention | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 254,463 | 262,462 | |
Commercial | Pass | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,609,703 | 3,742,666 | |
Residential Real Estate | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 4,045,603 | 3,803,265 | |
Residential Real Estate | Classified | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 9,064 | 8,767 | |
Residential Real Estate | Special Mention | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 63,231 | 61,384 | |
Residential Real Estate | Pass | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | $ 3,973,308 | 3,733,114 | |
Non Purchased Credit Impaired Loans and Leases | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | $ 19,083,377 |
Loans and Leases - Nonaccrual L
Loans and Leases - Nonaccrual Loans and Leases by Loan Portfolio Segment and Class (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | $ 2,117 | $ 108 | |
Nonaccrual | 67,652 | 95,602 | $ 91,163 |
Real Estate Mortgage | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 287 | 84 | |
Nonaccrual | 48,907 | 21,396 | 45,557 |
Real Estate Construction and Land | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Nonaccrual | 718 | 351 | 315 |
Commercial | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 1,830 | 24 | |
Nonaccrual | 17,471 | 73,442 | 44,902 |
Consumer | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Nonaccrual | 556 | 413 | 389 |
Finance Receivable Allowance | Consumer | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Nonaccrual | 556 | 413 | |
Residential Real Estate | Real Estate Mortgage | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, No Allowance | 588 | 774 | |
Nonaccrual | 2,471 | 1,826 | |
Residential Real Estate | No Finance Receivable Allowance | Real Estate Mortgage | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Residential Real Estate | Finance Receivable Allowance | Real Estate Mortgage | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Nonaccrual | 1,883 | 1,534 | |
Commercial | Real Estate Mortgage | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, No Allowance | 46,360 | 18,746 | |
Nonaccrual | 46,436 | 43,731 | |
Commercial | No Finance Receivable Allowance | Real Estate Mortgage | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 287 | 84 | |
Commercial | Finance Receivable Allowance | Real Estate Mortgage | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Nonaccrual | 76 | 342 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, No Allowance | 300 | 0 | |
Nonaccrual | 416 | 0 | |
Residential Real Estate Construction Financing Receivable | No Finance Receivable Allowance | Real Estate Construction and Land | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Residential Real Estate Construction Financing Receivable | Finance Receivable Allowance | Real Estate Construction and Land | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Nonaccrual | 116 | 0 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, No Allowance | 302 | 351 | |
Nonaccrual | 302 | 315 | |
Commercial Real Estate Construction Loan Receivable | No Finance Receivable Allowance | Real Estate Construction and Land | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Asset-based | Commercial | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, No Allowance | 500 | 17,103 | |
Nonaccrual | 2,379 | 2,679 | |
Asset-based | No Finance Receivable Allowance | Commercial | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Asset-based | Finance Receivable Allowance | Commercial | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Nonaccrual | 1,880 | 0 | |
Venture Capital Loans | Commercial | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, No Allowance | 0 | 3,089 | |
Nonaccrual | 2,432 | 1,980 | |
Venture Capital Loans | No Finance Receivable Allowance | Commercial | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Venture Capital Loans | Finance Receivable Allowance | Commercial | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Nonaccrual | 2,432 | 15,524 | |
Other Commercial | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, No Allowance | 11,004 | 8,944 | |
Other Commercial | Commercial | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 12,660 | $ 40,243 | |
Other Commercial | No Finance Receivable Allowance | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 1,830 | 24 | |
Other Commercial | Finance Receivable Allowance | Commercial | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Nonaccrual | $ 1,655 | $ 28,782 |
Loans and Leases - Loans Held f
Loans and Leases - Loans Held for Investment by Loan Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | ||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | $ 18,979,228 | $ 19,083,377 | $ 19,745,305 | |
Allowance for Loan and Lease Losses, Write-offs | 3,988 | 93,589 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (1,252) | (6,368) | ||
Allowance for Loan Loss, Net Write offs | 2,736 | 87,221 | ||
Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 7,987,213 | 7,899,936 | 8,008,944 | |
Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 990,035 | 1,117,121 | ||
Allowance for Loan and Lease Losses, Write-offs | 700 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 700 | 0 | ||
Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,575,788 | 2,243,160 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | (21) | ||
Allowance for Loan Loss, Net Write offs | 0 | (21) | ||
Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 7,085,840 | 7,502,905 | 8,426,224 | |
Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 340,352 | 320,255 | $ 429,884 | |
Allowance for Loan and Lease Losses, Write-offs | 346 | 798 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (10) | (201) | ||
Allowance for Loan Loss, Net Write offs | 336 | 597 | ||
Revolving Credit Facility [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 4,254,709 | 4,444,169 | ||
Allowance for Loan and Lease Losses, Write-offs | 53 | 27,498 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (9) | (787) | ||
Allowance for Loan Loss, Net Write offs | 44 | 26,711 | ||
Revolving Credit Facility [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 7,583 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Revolving Credit Facility [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 9,034 | 9,034 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Revolving Credit Facility [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 7,238 | 9,047 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 22 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 22 | ||
Revolving Converted To Term Loan [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 225,266 | 216,674 | ||
Allowance for Loan and Lease Losses, Write-offs | 1,700 | 2,337 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (20) | (19) | ||
Allowance for Loan Loss, Net Write offs | 1,680 | 2,318 | ||
Revolving Converted To Term Loan [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Revolving Converted To Term Loan [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 55,049 | 53,035 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Revolving Converted To Term Loan [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 126 | 105 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 9 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 9 | ||
Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,046,753 | 3,061,972 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | (52) | ||
Allowance for Loan Loss, Net Write offs | 0 | (52) | ||
Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,226) | 66,114 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 226,803 | 345,893 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 55,959 | 40,645 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,900,924 | 3,147,680 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 97 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | (18) | ||
Allowance for Loan Loss, Net Write offs | 0 | 79 | ||
Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 75,414 | 369,588 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 501,122 | 670,894 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 40,785 | 111,165 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 97 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 97 | ||
Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 3,180,829 | 3,524,108 | ||
Allowance for Loan and Lease Losses, Write-offs | 95 | 6,773 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (9) | (487) | ||
Allowance for Loan Loss, Net Write offs | 86 | 6,286 | ||
Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 373,311 | 397,691 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 805,652 | 849,819 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 97,152 | 64,469 | ||
Allowance for Loan and Lease Losses, Write-offs | 95 | 86 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | (1) | ||
Allowance for Loan Loss, Net Write offs | 95 | 85 | ||
Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 3,177,573 | 2,091,555 | ||
Allowance for Loan and Lease Losses, Write-offs | 1,051 | 4,013 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (13) | (229) | ||
Allowance for Loan Loss, Net Write offs | 1,038 | 3,784 | ||
Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 356,846 | 185,782 | ||
Allowance for Loan and Lease Losses, Write-offs | 700 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 700 | 0 | ||
Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 747,527 | 285,072 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 56,711 | 39,347 | ||
Allowance for Loan and Lease Losses, Write-offs | 136 | 177 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | (10) | ||
Allowance for Loan Loss, Net Write offs | 136 | 167 | ||
Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,845,780 | 1,069,061 | ||
Allowance for Loan and Lease Losses, Write-offs | 128 | 594 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (69) | (396) | ||
Allowance for Loan Loss, Net Write offs | 59 | 198 | ||
Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 154,716 | 78,270 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 208,155 | 28,725 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 33,299 | 42,101 | ||
Allowance for Loan and Lease Losses, Write-offs | 83 | 363 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (3) | (16) | ||
Allowance for Loan Loss, Net Write offs | 80 | 347 | ||
Prior [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,347,394 | 1,528,158 | ||
Allowance for Loan and Lease Losses, Write-offs | 961 | 52,277 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (1,132) | (4,380) | ||
Allowance for Loan Loss, Net Write offs | (171) | 47,897 | ||
Prior [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 31,974 | 12,093 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Prior [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 22,446 | 688 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | (21) | ||
Allowance for Loan Loss, Net Write offs | 0 | (21) | ||
Prior [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 49,082 | 13,376 | ||
Allowance for Loan and Lease Losses, Write-offs | 32 | 44 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (7) | (174) | ||
Allowance for Loan Loss, Net Write offs | 25 | (130) | ||
1-2 High Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,767,396 | 2,640,712 | ||
1-2 High Pass [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 787 | 546 | ||
1-2 High Pass [Member] | Revolving Credit Facility [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 668,314 | 517,104 | ||
1-2 High Pass [Member] | Revolving Credit Facility [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Revolving Credit Facility [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Revolving Credit Facility [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 756 | 509 | ||
1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 94,663 | 72,097 | ||
1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 372,178 | 1,234,380 | ||
1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 15 | ||
1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 882,395 | 262,764 | ||
1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 13 | 0 | ||
1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 212,811 | 145,321 | ||
1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 8 | ||
1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 146,516 | 115,821 | ||
1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 7 | 14 | ||
1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 107,934 | 153,135 | ||
1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 11 | 0 | ||
1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 282,585 | 140,090 | ||
1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
3-4 Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 15,415,718 | 15,456,118 | ||
3-4 Pass [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 922,943 | 966,971 | ||
3-4 Pass [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,574,770 | 2,242,401 | ||
3-4 Pass [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 336,108 | 316,515 | ||
3-4 Pass [Member] | Revolving Credit Facility [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 3,504,926 | 3,771,354 | ||
3-4 Pass [Member] | Revolving Credit Facility [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 7,583 | ||
3-4 Pass [Member] | Revolving Credit Facility [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 9,034 | 9,034 | ||
3-4 Pass [Member] | Revolving Credit Facility [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 6,480 | 8,536 | ||
3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 116,928 | 126,955 | ||
3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 55,049 | 53,035 | ||
3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 104 | 78 | ||
3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 672,533 | 1,789,708 | ||
3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2,226) | 66,114 | ||
3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 226,803 | 345,134 | ||
3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 55,959 | 40,585 | ||
3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,968,720 | 2,699,583 | ||
3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 75,414 | 369,588 | ||
3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 500,914 | 670,894 | ||
3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 40,665 | 110,993 | ||
3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,786,704 | 3,134,344 | ||
3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 373,311 | 357,295 | ||
3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 805,652 | 849,819 | ||
3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 96,356 | 62,833 | ||
3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,840,127 | 1,874,377 | ||
3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 356,846 | 118,586 | ||
3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 746,717 | 285,072 | ||
3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 55,328 | 39,036 | ||
3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,642,454 | 811,511 | ||
3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 87,926 | 36,027 | ||
3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 208,155 | 28,725 | ||
3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 32,871 | 41,623 | ||
3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,883,326 | 1,248,286 | ||
3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 31,672 | 11,778 | ||
3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 22,446 | 688 | ||
3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 48,345 | 12,831 | ||
5 Special Mention [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 632,997 | 721,285 | ||
5 Special Mention [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 66,790 | 107,592 | ||
5 Special Mention [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 602 | 759 | ||
5 Special Mention [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,831 | 2,732 | ||
5 Special Mention [Member] | Revolving Credit Facility [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 45,706 | 71,218 | ||
5 Special Mention [Member] | Revolving Credit Facility [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Revolving Credit Facility [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Revolving Credit Facility [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 5,693 | 10,591 | ||
5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 37,378 | ||
5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 759 | ||
5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 45 | ||
5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 48,986 | 185,189 | ||
5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 208 | 0 | ||
5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 85 | 137 | ||
5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 180,836 | 230,012 | ||
5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 40,396 | ||
5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 530 | 1,628 | ||
5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 177,531 | 93,222 | ||
5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 67,196 | ||
5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 394 | 0 | ||
5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,376 | 261 | ||
5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 83,134 | 25,147 | ||
5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 66,790 | 0 | ||
5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 417 | 422 | ||
5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 91,111 | 68,528 | ||
5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 423 | 239 | ||
6-8 Classified [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 163,117 | 265,262 | ||
6-8 Classified [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 302 | 42,558 | ||
6-8 Classified [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 416 | 0 | ||
6-8 Classified [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 626 | 462 | ||
6-8 Classified [Member] | Revolving Credit Facility [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 35,763 | 84,493 | ||
6-8 Classified [Member] | Revolving Credit Facility [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Revolving Credit Facility [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Revolving Credit Facility [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2 | 2 | ||
6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 7,982 | 7,031 | ||
6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 22 | 27 | ||
6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,042 | 506 | ||
6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 823 | 144 | ||
6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 22 | 35 | ||
6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 478 | 14,431 | ||
6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 266 | 0 | ||
6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 13,399 | 8,135 | ||
6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 416 | 0 | ||
6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 36 | ||
6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 12,258 | 79,268 | ||
6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 42,243 | ||
6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 56 | ||
6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 90,372 | 71,254 | ||
6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 302 | 315 | ||
6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 314 | 306 | ||
Commercial | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 3,941,610 | 4,096,671 | ||
Allowance for Loan and Lease Losses, Write-offs | 368 | 10,178 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (541) | (289) | ||
Allowance for Loan Loss, Net Write offs | (173) | 9,889 | ||
Commercial | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 51,358 | 62,586 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Commercial | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 15,343 | 13,978 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Commercial | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 38,810 | 557,269 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Commercial | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 575,044 | 521,828 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Commercial | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 504,878 | 686,231 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 154 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 154 | ||
Commercial | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 651,011 | 761,181 | ||
Allowance for Loan and Lease Losses, Write-offs | 168 | 3,330 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | (9) | ||
Allowance for Loan Loss, Net Write offs | 168 | 3,321 | ||
Commercial | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 704,761 | 444,372 | ||
Allowance for Loan and Lease Losses, Write-offs | 45 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 45 | 0 | ||
Commercial | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,400,405 | 1,049,226 | ||
Allowance for Loan and Lease Losses, Write-offs | 155 | 6,694 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (541) | (280) | ||
Allowance for Loan Loss, Net Write offs | (386) | 6,414 | ||
Commercial | 1-2 High Pass [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 74,788 | 99,799 | ||
Commercial | 1-2 High Pass [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Commercial | 1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Commercial | 1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Commercial | 1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,978 | 28,304 | ||
Commercial | 1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,646 | 4,848 | ||
Commercial | 1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 6,000 | 13,184 | ||
Commercial | 1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 13,343 | 12,241 | ||
Commercial | 1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 51,821 | 41,222 | ||
Commercial | 3-4 Pass [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 3,534,915 | 3,642,867 | ||
Commercial | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 51,358 | 62,586 | ||
Commercial | 3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 15,343 | 13,978 | ||
Commercial | 3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 38,810 | 554,143 | ||
Commercial | 3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 569,953 | 413,785 | ||
Commercial | 3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 417,291 | 574,497 | ||
Commercial | 3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 544,055 | 725,503 | ||
Commercial | 3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 671,985 | 405,367 | ||
Commercial | 3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,226,120 | 893,008 | ||
Commercial | 5 Special Mention [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 254,463 | 262,462 | ||
Commercial | 5 Special Mention [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Commercial | 5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Commercial | 5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 2,622 | ||
Commercial | 5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,609 | 78,484 | ||
Commercial | 5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 84,720 | 99,397 | ||
Commercial | 5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 95,272 | 14,625 | ||
Commercial | 5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 7,199 | 9,967 | ||
Commercial | 5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 64,663 | 57,367 | ||
Commercial | 6-8 Classified [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 77,444 | 91,543 | ||
Commercial | 6-8 Classified [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Commercial | 6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Commercial | 6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 504 | ||
Commercial | 6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 504 | 1,255 | ||
Commercial | 6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,221 | 7,489 | ||
Commercial | 6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 5,684 | 7,869 | ||
Commercial | 6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 12,234 | 16,797 | ||
Commercial | 6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 57,801 | 57,629 | ||
Residential Real Estate | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 4,045,603 | 3,803,265 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 508 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (4) | (328) | ||
Allowance for Loan Loss, Net Write offs | (4) | 180 | ||
Residential Real Estate | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 254,363 | 114,966 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | (1) | ||
Allowance for Loan Loss, Net Write offs | 0 | (1) | ||
Residential Real Estate | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,724 | 1,365 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 457 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 457 | ||
Residential Real Estate | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 287,262 | 562,525 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Residential Real Estate | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 600,495 | 911,011 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Residential Real Estate | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 896,628 | 1,141,257 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Residential Real Estate | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,028,241 | 612,477 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Residential Real Estate | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 557,204 | 257,490 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Residential Real Estate | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 419,686 | 202,174 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 51 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (4) | (327) | ||
Allowance for Loan Loss, Net Write offs | (4) | (276) | ||
Residential Real Estate | 1-2 High Pass [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 175,662 | 204,644 | ||
Residential Real Estate | 1-2 High Pass [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Residential Real Estate | 1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Residential Real Estate | 1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,505 | 58,714 | ||
Residential Real Estate | 1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 55,262 | 55,826 | ||
Residential Real Estate | 1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 42,358 | 28,831 | ||
Residential Real Estate | 1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 26,420 | 33,017 | ||
Residential Real Estate | 1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 26,984 | 18,991 | ||
Residential Real Estate | 1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 23,133 | 9,265 | ||
Residential Real Estate | 3-4 Pass [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 3,797,646 | 3,528,470 | ||
Residential Real Estate | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 254,127 | 113,987 | ||
Residential Real Estate | 3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 292 | 528 | ||
Residential Real Estate | 3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 285,757 | 491,504 | ||
Residential Real Estate | 3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 532,473 | 850,978 | ||
Residential Real Estate | 3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 849,901 | 1,067,109 | ||
Residential Real Estate | 3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 955,726 | 577,906 | ||
Residential Real Estate | 3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 529,270 | 238,499 | ||
Residential Real Estate | 3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 390,100 | 187,959 | ||
Residential Real Estate | 5 Special Mention [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 63,231 | 61,384 | ||
Residential Real Estate | 5 Special Mention [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 236 | 861 | ||
Residential Real Estate | 5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 626 | 0 | ||
Residential Real Estate | 5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 12,307 | ||
Residential Real Estate | 5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 12,465 | 4,207 | ||
Residential Real Estate | 5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 4,207 | 42,455 | ||
Residential Real Estate | 5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 43,022 | 1,554 | ||
Residential Real Estate | 5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 950 | 0 | ||
Residential Real Estate | 5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,725 | 0 | ||
Residential Real Estate | 6-8 Classified [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 9,064 | 8,767 | ||
Residential Real Estate | 6-8 Classified [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 118 | ||
Residential Real Estate | 6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 806 | 837 | ||
Residential Real Estate | 6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Residential Real Estate | 6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 295 | 0 | ||
Residential Real Estate | 6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 162 | 2,862 | ||
Residential Real Estate | 6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 3,073 | 0 | ||
Residential Real Estate | 6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Residential Real Estate | 6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 4,728 | 4,950 | ||
Asset-based | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 3,383,403 | 3,429,283 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 11,817 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (268) | (708) | ||
Allowance for Loan Loss, Net Write offs | (268) | 11,109 | ||
Asset-based | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,095,157 | 2,058,083 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (9) | (236) | ||
Allowance for Loan Loss, Net Write offs | (9) | (236) | ||
Asset-based | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 129,733 | 121,850 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Asset-based | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 39,875 | 271,468 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | (52) | ||
Allowance for Loan Loss, Net Write offs | 0 | (52) | ||
Asset-based | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 217,853 | 318,077 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Asset-based | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 300,324 | 238,958 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Asset-based | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 219,199 | 121,194 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Asset-based | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 106,090 | 163,756 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Asset-based | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 275,172 | 135,897 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 11,817 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (259) | (420) | ||
Allowance for Loan Loss, Net Write offs | (259) | 11,397 | ||
Asset-based | 1-2 High Pass [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,132,847 | 1,027,727 | ||
Asset-based | 1-2 High Pass [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 368,179 | 275,093 | ||
Asset-based | 1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 93,840 | 72,017 | ||
Asset-based | 1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 12,602 | 116,247 | ||
Asset-based | 1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 102,110 | 173,457 | ||
Asset-based | 1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 168,477 | 111,630 | ||
Asset-based | 1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 114,084 | 69,244 | ||
Asset-based | 1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 67,281 | 121,838 | ||
Asset-based | 1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 206,274 | 88,201 | ||
Asset-based | 3-4 Pass [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,083,493 | 2,220,388 | ||
Asset-based | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,699,103 | 1,750,934 | ||
Asset-based | 3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 32,307 | 46,078 | ||
Asset-based | 3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 27,273 | 155,221 | ||
Asset-based | 3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 115,743 | 84,798 | ||
Asset-based | 3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 72,835 | 85,539 | ||
Asset-based | 3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 69,778 | 42,928 | ||
Asset-based | 3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 31,463 | 8,227 | ||
Asset-based | 3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 34,991 | 46,663 | ||
Asset-based | 5 Special Mention [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 142,122 | 153,301 | ||
Asset-based | 5 Special Mention [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 21,970 | 23,257 | ||
Asset-based | 5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 4,486 | 4,655 | ||
Asset-based | 5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Asset-based | 5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 59,822 | ||
Asset-based | 5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 59,012 | 41,789 | ||
Asset-based | 5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 35,337 | 9,022 | ||
Asset-based | 5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 7,346 | 14,274 | ||
Asset-based | 5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 13,971 | 482 | ||
Asset-based | 6-8 Classified [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 24,941 | 27,867 | ||
Asset-based | 6-8 Classified [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 5,905 | 8,799 | ||
Asset-based | 6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (900) | (900) | ||
Asset-based | 6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Asset-based | 6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Asset-based | 6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Asset-based | 6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Asset-based | 6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 19,417 | ||
Asset-based | 6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 19,936 | 551 | ||
Venture Capital Loans | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,495,798 | 1,698,508 | ||
Venture Capital Loans | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,495,798 | 1,698,508 | ||
Allowance for Loan and Lease Losses, Write-offs | 620 | 6,819 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (57) | (1,261) | ||
Allowance for Loan Loss, Net Write offs | 563 | 5,558 | ||
Venture Capital Loans | Revolving Credit Facility [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,208,942 | 1,376,195 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 144 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | (450) | ||
Allowance for Loan Loss, Net Write offs | 0 | (306) | ||
Venture Capital Loans | Revolving Converted To Term Loan [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 9,519 | 10,739 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Venture Capital Loans | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 18,506 | 71,776 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Venture Capital Loans | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 81,191 | 149,023 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Venture Capital Loans | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 113,900 | 44,020 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 6,533 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | (478) | ||
Allowance for Loan Loss, Net Write offs | 0 | 6,055 | ||
Venture Capital Loans | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 26,244 | 7,785 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (13) | (176) | ||
Allowance for Loan Loss, Net Write offs | (13) | (176) | ||
Venture Capital Loans | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 7,394 | 29,734 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | (8) | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (35) | (154) | ||
Allowance for Loan Loss, Net Write offs | (35) | (162) | ||
Venture Capital Loans | Prior [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 30,102 | 9,236 | ||
Allowance for Loan and Lease Losses, Write-offs | 620 | 150 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (9) | (3) | ||
Allowance for Loan Loss, Net Write offs | 611 | 147 | ||
Venture Capital Loans | 1-2 High Pass [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 231,163 | [1] | 174,136 | |
Venture Capital Loans | 1-2 High Pass [Member] | Revolving Credit Facility [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 229,128 | [1] | 167,296 | |
Venture Capital Loans | 1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | [1] | 0 | |
Venture Capital Loans | 1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | [1] | 1,999 | |
Venture Capital Loans | 1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,999 | [1] | 4,797 | |
Venture Capital Loans | 1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (2) | [1] | 0 | |
Venture Capital Loans | 1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | [1] | (4) | |
Venture Capital Loans | 1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (8) | [1] | (4) | |
Venture Capital Loans | 1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 46 | [1] | 52 | |
Venture Capital Loans | 3-4 Pass [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,166,485 | 1,399,739 | ||
Venture Capital Loans | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 954,246 | 1,161,606 | ||
Venture Capital Loans | 3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 7,087 | 5,725 | ||
Venture Capital Loans | 3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 18,506 | 48,132 | ||
Venture Capital Loans | 3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 45,573 | 103,437 | ||
Venture Capital Loans | 3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 83,328 | 37,818 | ||
Venture Capital Loans | 3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 22,044 | 7,789 | ||
Venture Capital Loans | 3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 7,402 | 29,738 | ||
Venture Capital Loans | 3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 28,299 | 5,494 | ||
Venture Capital Loans | 5 Special Mention [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 89,423 | 118,125 | ||
Venture Capital Loans | 5 Special Mention [Member] | Revolving Credit Facility [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 23,473 | 46,765 | ||
Venture Capital Loans | 5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 5,014 | ||
Venture Capital Loans | 5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 21,645 | ||
Venture Capital Loans | 5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 33,619 | 42,499 | ||
Venture Capital Loans | 5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 32,331 | 2,202 | ||
Venture Capital Loans | 5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Venture Capital Loans | 5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Venture Capital Loans | 5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Venture Capital Loans | 6-8 Classified [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 8,727 | 6,508 | ||
Venture Capital Loans | 6-8 Classified [Member] | Revolving Credit Facility [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,095 | 528 | ||
Venture Capital Loans | 6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,432 | 0 | ||
Venture Capital Loans | 6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Venture Capital Loans | 6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | (1,710) | ||
Venture Capital Loans | 6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,757) | 4,000 | ||
Venture Capital Loans | 6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 4,200 | 0 | ||
Venture Capital Loans | 6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Venture Capital Loans | 6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,757 | 3,690 | ||
Other Commercial | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,206,639 | 2,375,114 | ||
Allowance for Loan and Lease Losses, Write-offs | 1,954 | 63,469 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (372) | (3,560) | ||
Allowance for Loan Loss, Net Write offs | 1,582 | 59,909 | ||
Other Commercial | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 628,617 | 806,675 | ||
Allowance for Loan and Lease Losses, Write-offs | 53 | 27,332 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | (100) | ||
Allowance for Loan Loss, Net Write offs | 53 | 27,232 | ||
Other Commercial | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 13,772 | 15,602 | ||
Allowance for Loan and Lease Losses, Write-offs | 1,700 | 1,871 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (20) | (19) | ||
Allowance for Loan Loss, Net Write offs | 1,680 | 1,852 | ||
Other Commercial | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 381,764 | 1,146,282 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | ||
Allowance for Loan Loss, Net Write offs | 0 | 0 | ||
Other Commercial | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 809,020 | 96,094 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | (18) | ||
Allowance for Loan Loss, Net Write offs | 0 | (18) | ||
Other Commercial | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 88,984 | 101,663 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (9) | (8) | ||
Allowance for Loan Loss, Net Write offs | (9) | (8) | ||
Other Commercial | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 91,794 | 78,717 | ||
Allowance for Loan and Lease Losses, Write-offs | 47 | 506 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | (34) | ||
Allowance for Loan Loss, Net Write offs | 47 | 472 | ||
Other Commercial | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 74,161 | 24,613 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 239 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (31) | (226) | ||
Allowance for Loan Loss, Net Write offs | (31) | 13 | ||
Other Commercial | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 118,527 | 105,468 | ||
Allowance for Loan and Lease Losses, Write-offs | 154 | 33,521 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (312) | (3,155) | ||
Allowance for Loan Loss, Net Write offs | (158) | 30,366 | ||
Other Commercial | 1-2 High Pass [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,152,149 | 1,133,860 | ||
Other Commercial | 1-2 High Pass [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 70,251 | 74,206 | ||
Other Commercial | 1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 823 | 80 | ||
Other Commercial | 1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 358,071 | 1,057,405 | ||
Other Commercial | 1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 721,033 | 380 | ||
Other Commercial | 1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 332 | 4 | ||
Other Commercial | 1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 5 | 366 | ||
Other Commercial | 1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 323 | 69 | ||
Other Commercial | 1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,311 | 1,350 | ||
Other Commercial | 3-4 Pass [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 999,358 | 1,138,767 | ||
Other Commercial | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 530,578 | 657,088 | ||
Other Commercial | 3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 6,746 | 7,533 | ||
Other Commercial | 3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 21,651 | 88,875 | ||
Other Commercial | 3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 87,985 | 95,110 | ||
Other Commercial | 3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 88,030 | 99,434 | ||
Other Commercial | 3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 89,633 | 77,557 | ||
Other Commercial | 3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 73,382 | 23,305 | ||
Other Commercial | 3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 101,353 | 89,865 | ||
Other Commercial | 5 Special Mention [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 13,535 | 14,930 | ||
Other Commercial | 5 Special Mention [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 27 | 335 | ||
Other Commercial | 5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 581 | 922 | ||
Other Commercial | 5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Other Commercial | 5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 40 | ||
Other Commercial | 5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 36 | 2,145 | ||
Other Commercial | 5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,130 | 564 | ||
Other Commercial | 5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 432 | 484 | ||
Other Commercial | 5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 10,329 | 10,440 | ||
Other Commercial | 6-8 Classified [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 41,597 | 87,557 | ||
Other Commercial | 6-8 Classified [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 27,761 | 75,046 | ||
Other Commercial | 6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 5,622 | 7,067 | ||
Other Commercial | 6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,042 | 2 | ||
Other Commercial | 6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2 | 564 | ||
Other Commercial | 6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 586 | 80 | ||
Other Commercial | 6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 26 | 230 | ||
Other Commercial | 6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 24 | 755 | ||
Other Commercial | 6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | $ 5,534 | $ 3,813 | ||
[1] | Amounts with negative balances are loans with zero principal balances and deferred loan origination fees. |
Loans and Leases - Troubled Deb
Loans and Leases - Troubled Debt Restructurings of Loans Held for Investment by Loan Portfolio Segment (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021USD ($)contract | Mar. 31, 2020USD ($)contract | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of loans | contract | 20 | 21 |
Pre-Modification Outstanding Recorded Investment | $ 38,188 | $ 25,953 |
Post-Modification Outstanding Recorded Investment | $ 17,594 | $ 24,177 |
Consumer | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of loans | contract | 1 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 20 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 20 | $ 0 |
Asset-based | Commercial | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of loans | contract | 1 | 4 |
Pre-Modification Outstanding Recorded Investment | $ 503 | $ 1,741 |
Post-Modification Outstanding Recorded Investment | $ 503 | $ 1,741 |
Venture Capital Loans | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Loans | contract | 1 | |
Venture Capital Loans | Commercial | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of loans | contract | 3 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 4,502 | $ 2,047 |
Post-Modification Outstanding Recorded Investment | $ 2,529 | $ 2,047 |
Other Commercial | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Loans | contract | 1 | 1 |
Other Commercial | Commercial | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of loans | contract | 12 | 15 |
Pre-Modification Outstanding Recorded Investment | $ 32,250 | $ 22,165 |
Post-Modification Outstanding Recorded Investment | $ 14,276 | $ 20,389 |
Commercial | Real Estate Mortgage | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of loans | contract | 1 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 647 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Residential Real Estate | Real Estate Mortgage | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of loans | contract | 2 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 266 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 266 | $ 0 |
Number of Loans | contract | 1 |
Loans and Leases - Leases Recei
Loans and Leases - Leases Receivable Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Receivables [Abstract] | ||
Interest income on net investments in leases | $ 2,080 | $ 2,252 |
Loans and Leases - Components o
Loans and Leases - Components of Leases Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Direct Financing Lease, Net Investment in Leases [Abstract] | ||
Lease payments receivable | $ 149,830 | $ 158,740 |
Unguaranteed residual assets | 20,751 | 19,303 |
Deferred costs and other | 1,010 | 996 |
Aggregate net investment in leases | $ 171,591 | $ 179,039 |
Loans and Leases - Maturities o
Loans and Leases - Maturities of Leases Receivable (Details) $ in Thousands | Mar. 31, 2021USD ($) |
Sales-type and Direct Financing Leases, Lease Receivable, Rolling Maturity [Abstract] | |
2021 | $ 54,990 |
2022 | 40,450 |
2023 | 27,725 |
2024 | 22,090 |
2025 | 10,167 |
Thereafter | 7,675 |
Total undiscounted cash flows | 163,097 |
Less: Unearned income | (13,267) |
Present value of lease payments | $ 149,830 |
Loans and Leases - Allowance fo
Loans and Leases - Allowance for Loan and Lease Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning of period | $ 348,181 | $ 138,785 | |
Charge-offs | (3,988) | (20,205) | |
Recoveries | 1,252 | 1,095 | |
Net charge-offs | (2,736) | (19,110) | |
Provision | (53,000) | 98,000 | |
Balance, end of period | 292,445 | 221,292 | |
Amount of the allowance applicable to loans and leases: | |||
Individually evaluated | 1,801 | 6,692 | |
Collectively evaluated | 290,644 | 214,600 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||
Individually evaluated | 90,155 | 99,997 | |
Collectively evaluated | 18,889,073 | 19,645,308 | |
Loans held for investment, net | 18,979,228 | 19,745,305 | $ 19,083,377 |
Real Estate Mortgage | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning of period | 138,342 | 44,575 | |
Charge-offs | (368) | (500) | |
Recoveries | 545 | 124 | |
Net charge-offs | 177 | (376) | |
Provision | 2,603 | 41,865 | |
Balance, end of period | 141,122 | 91,372 | |
Amount of the allowance applicable to loans and leases: | |||
Individually evaluated | 220 | 230 | |
Collectively evaluated | 140,902 | 91,142 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||
Individually evaluated | 52,823 | 25,901 | |
Collectively evaluated | 7,934,390 | 7,983,043 | |
Loans held for investment, net | 7,987,213 | 8,008,944 | 7,899,936 |
Real Estate Construction and Land | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning of period | 78,356 | 30,544 | |
Charge-offs | (700) | 0 | |
Recoveries | 0 | 0 | |
Net charge-offs | (700) | 0 | |
Provision | (10,881) | 18,221 | |
Balance, end of period | 66,775 | 40,173 | |
Amount of the allowance applicable to loans and leases: | |||
Individually evaluated | 0 | 0 | |
Collectively evaluated | 66,775 | 40,173 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||
Individually evaluated | 2,047 | 1,816 | |
Collectively evaluated | 3,563,776 | 2,878,437 | |
Loans held for investment, net | 3,565,823 | 2,880,253 | 3,360,281 |
Commercial | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning of period | 126,403 | 61,528 | |
Charge-offs | (2,574) | (19,232) | |
Recoveries | 697 | 955 | |
Net charge-offs | (1,877) | (18,277) | |
Provision | (45,810) | 37,459 | |
Balance, end of period | 78,716 | 87,570 | |
Amount of the allowance applicable to loans and leases: | |||
Individually evaluated | 1,581 | 6,462 | |
Collectively evaluated | 77,135 | 81,108 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||
Individually evaluated | 35,285 | 72,280 | |
Collectively evaluated | 7,050,555 | 8,353,944 | |
Loans held for investment, net | 7,085,840 | 8,426,224 | 7,502,905 |
Consumer | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning of period | 5,080 | 2,138 | |
Charge-offs | (346) | (473) | |
Recoveries | 10 | 16 | |
Net charge-offs | (336) | (457) | |
Provision | 1,088 | 455 | |
Balance, end of period | 5,832 | 2,177 | |
Amount of the allowance applicable to loans and leases: | |||
Individually evaluated | 0 | 0 | |
Collectively evaluated | 5,832 | 2,177 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||
Individually evaluated | 0 | 0 | |
Collectively evaluated | 340,352 | 429,884 | |
Loans held for investment, net | 340,352 | 429,884 | $ 320,255 |
Cumulative Effect of Change in Accounting Principle - CECL | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, end of period | (3,617) | ||
Cumulative Effect of Change in Accounting Principle - CECL | Real Estate Mortgage | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, end of period | (5,308) | ||
Cumulative Effect of Change in Accounting Principle - CECL | Real Estate Construction and Land | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, end of period | 8,592 | ||
Cumulative Effect of Change in Accounting Principle - CECL | Commercial | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, end of period | (6,860) | ||
Cumulative Effect of Change in Accounting Principle - CECL | Consumer | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, end of period | $ (41) | ||
Restatement Adjustment | Cumulative Effect of Change in Accounting Principle - CECL | SEC Schedule, 12-09, Allowance, Loan and Lease Loss | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning of period | $ 3,617 |
Loans and Leases - Collateral D
Loans and Leases - Collateral Dependent Loans Held for Investment (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | $ 53,391 | $ 76,522 |
Real Estate Mortgage | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 46,767 | 43,656 |
Real Estate Construction and Land | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 2,047 | 1,766 |
Consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 4,577 | 31,100 |
Real Estate Properties [Domain] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 48,814 | 45,422 |
Real Estate Properties [Domain] | Real Estate Mortgage | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 46,767 | 43,656 |
Real Estate Properties [Domain] | Real Estate Construction and Land | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 2,047 | 1,766 |
Real Estate Properties [Domain] | Consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 0 | 0 |
Business Assets [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 4,577 | 31,100 |
Business Assets [Member] | Real Estate Mortgage | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 0 | 0 |
Business Assets [Member] | Real Estate Construction and Land | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 0 | 0 |
Business Assets [Member] | Consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | $ 4,577 | $ 31,100 |
Loans and Leases - Allowance _2
Loans and Leases - Allowance for Loan and Lease LOsses and Reserve for Unfunded Loan Commitments (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Jan. 01, 2020 | |
Receivables [Abstract] | |||
Balance, beginning of period | $ 348,181 | $ 138,785 | |
Reserve for Unfunded Loan Commitments, Balance, beginning of period | 85,571 | 35,861 | |
Allowance for Credit Losses, Balance, beginning of period | 433,752 | 174,646 | |
Allowance for Loan and Lease Losses, Charge-offs | (3,988) | (20,205) | |
Reserve for Unfunded Loan Commitments, Charge-offs | 0 | 0 | |
Allowance for Credit Losses, Charge-offs | (3,988) | (20,205) | |
Allowance for Loan and Lease Loss, Recoveries | 1,252 | 1,095 | |
Reserve for Unfunded Loan Commitments, Recoveries | 0 | 0 | |
Allowance for Credit Losses, Recoveries | 1,252 | 1,095 | |
Net charge-offs | (2,736) | (19,110) | |
Reserve for Unfunded Loan Commitments, Net charge-offs | 0 | 0 | |
Allowance For Credit Losses, Net charge-offs | (2,736) | (19,110) | |
Provision | (53,000) | 98,000 | |
Reserve for Unfunded Commitments, Provision (negative provision) | 5,000 | 14,000 | |
Balance, end of period | 292,445 | 221,292 | |
Reserve for Unfunded Loan Commitments, Balance, end of period | 90,571 | 53,571 | |
Allowance for Credit Losses, Balance, end of period | 383,016 | 274,863 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Loans and Leases Receivable, Allowance | 348,181 | 221,292 | $ 142,402 |
Reserve for Unfunded Loan Commitments | 90,571 | 53,571 | 39,571 |
Allowance for credit losses | 383,016 | 274,863 | $ 181,973 |
Cumulative Effect of Change in Accounting Principle - CECL | |||
Receivables [Abstract] | |||
Balance, end of period | (3,617) | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Loans and Leases Receivable, Allowance | $ (3,617) | ||
Restatement Adjustment | Cumulative Effect of Change in Accounting Principle - CECL | |||
Receivables [Abstract] | |||
Allowance for Credit Losses, Balance, beginning of period | 7,327 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Allowance for credit losses | 7,327 | ||
Restatement Adjustment | Cumulative Effect of Change in Accounting Principle - CECL | SEC Schedule, 12-09, Allowance, Loan and Lease Loss | |||
Receivables [Abstract] | |||
Balance, beginning of period | 3,617 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Loans and Leases Receivable, Allowance | 3,617 | ||
Restatement Adjustment | Cumulative Effect of Change in Accounting Principle - CECL | Reserve For Unfunded Commitments | |||
Receivables [Abstract] | |||
Reserve for Unfunded Loan Commitments, Balance, beginning of period | 3,710 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Reserve for Unfunded Loan Commitments | $ 3,710 |
Loans and Leases - Narrative (D
Loans and Leases - Narrative (Details) | 3 Months Ended | ||||
Mar. 31, 2021USD ($)contract | Mar. 31, 2020USD ($)contract | Dec. 31, 2020USD ($) | Jan. 01, 2020USD ($) | Dec. 31, 2019USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Receivable, 90 or more days past due | $ 33,423,000 | $ 36,523,000 | |||
Receivable, 30-89 days past due | 17,128,000 | 12,232,000 | |||
Nonaccrual loans and leases | 67,652,000 | $ 95,602,000 | 91,163,000 | ||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | (55,700,000) | ||||
Provision | (53,000,000) | 98,000,000 | |||
Gross loans and leases held for investment | 19,055,165,000 | 19,153,357,000 | |||
Loans and Leases Receivable, Allowance | 292,445,000 | 221,292,000 | 348,181,000 | $ 142,402,000 | $ 138,785,000 |
Real Estate Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Receivable, 90 or more days past due | 26,885,000 | 29,518,000 | |||
Receivable, 30-89 days past due | 6,538,000 | 7,350,000 | |||
Nonaccrual loans and leases | 48,907,000 | 21,396,000 | 45,557,000 | ||
Provision | 2,603,000 | 41,865,000 | |||
Gross loans and leases held for investment | 7,992,490,000 | 7,905,193,000 | |||
Loans and Leases Receivable, Allowance | 141,122,000 | 91,372,000 | 138,342,000 | 49,883,000 | 44,575,000 |
Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Receivable, 90 or more days past due | 5,834,000 | 6,894,000 | |||
Receivable, 30-89 days past due | 8,395,000 | 2,863,000 | |||
Nonaccrual loans and leases | 17,471,000 | 73,442,000 | 44,902,000 | ||
Provision | (45,810,000) | 37,459,000 | |||
Gross loans and leases held for investment | 7,120,049,000 | 7,534,801,000 | |||
Loans and Leases Receivable, Allowance | 78,716,000 | $ 87,570,000 | 126,403,000 | $ 68,388,000 | $ 61,528,000 |
Residential Real Estate | Real Estate Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Receivable, 90 or more days past due | 1,052,000 | 373,000 | |||
Receivable, 30-89 days past due | 6,502,000 | 600,000 | |||
Nonaccrual loans and leases | $ 2,471,000 | 1,826,000 | |||
Number of Loans | contract | 1 | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 163,000 | ||||
Finance Receivable, Payroll Protection Program Loan [Member] | Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Gross loans and leases held for investment | 1,100,000,000 | ||||
Credit Concentration Risk | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual loans and leases | $ 31,400,000 | ||||
Percentage of nonaccrual loans and leases | 46.00% | ||||
Nonaccrual | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Receivable, 90 or more days past due | $ 33,400,000 | 36,500,000 | |||
Receivable, 30-89 days past due | 600,000 | 3,400,000 | |||
Financing receivable, nonaccrual status, current | $ 33,600,000 | 51,300,000 | |||
Other Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Number of Loans | contract | 1 | 1 | |||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 87,000 | $ 9,000 | |||
Other Commercial | Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Receivable, 90 or more days past due | 3,954,000 | 4,766,000 | |||
Receivable, 30-89 days past due | 1,645,000 | 2,323,000 | |||
Nonaccrual loans and leases | 12,660,000 | 40,243,000 | |||
Venture Capital Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Number of Loans | contract | 1 | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 2,300,000 | ||||
Venture Capital Loans | Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Receivable, 90 or more days past due | 0 | 0 | |||
Receivable, 30-89 days past due | 6,750,000 | 540,000 | |||
Nonaccrual loans and leases | $ 2,432,000 | $ 1,980,000 |
Foreclosed Assets - Summary of
Foreclosed Assets - Summary of Foreclosed Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Total other real estate owned, net | $ 13,831 | $ 13,198 |
Other foreclosed assets | 467 | 829 |
Foreclosed assets, net | 14,298 | 14,027 |
Commercial real estate | ||
Total other real estate owned, net | 13,612 | 12,979 |
Construction and land development | ||
Total other real estate owned, net | $ 219 | $ 219 |
Foreclosed Assets - Changes in
Foreclosed Assets - Changes in Foreclosed Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Other Real Estate Owned Net Covered and NonCovered Including Foreclosed Assets [Abstract] | ||
Balance, beginning of period | $ 14,027 | |
Loans transferred to foreclosed assets | 647 | $ 1,776 |
Provision for losses | (14) | |
Reductions related to sales | (362) | |
Balance, end of period | $ 14,298 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($) | |
Goodwill [Roll Forward] | |
Beginning balance | $ 1,078,670 |
Goodwill impairment | 125,422 |
Ending balance | $ 1,204,092 |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets - Rollforward of Goodwill (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | |
Finite-lived Intangible Assets [Roll Forward] | |||
CDI and CRI Balance, beginning of period | $ 109,646 | $ 117,573 | |
CDI and CRI Balance, end of period | 100,550 | $ 109,646 | 117,573 |
Finite-lived Intangible Assets Acquired | 750 | 0 | |
Accumulated Amortization, beginning of period | (86,005) | (79,179) | |
Amortization expense | (3,079) | (3,172) | (3,948) |
Accumulated Amortization, end of period | (79,238) | $ (86,005) | (83,127) |
Net CDI and CRI, end of period | 21,312 | 34,446 | |
Finite Lived Intangible Assets Fully Amortized Portion | $ 9,846 | $ 0 |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Goodwill impairment | $ 0 | $ 0 | $ 1,470,000 |
Other professional services | 3,079 | $ 3,172 | $ 3,948 |
Aggregate amortization expense 2021 | 8,142 | ||
Aggregate amortization expense 2022 | 7,672 | ||
Aggregate amortization expense 2023 | 3,787 | ||
Aggregate amortization expense 2024 | $ 1,711 |
Goodwill and Other Intangible_6
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Mar. 31, 2020 |
Finite-Lived Intangible Assets [Line Items] | ||
Aggregate amortization expense 2021 | $ 8,142 | |
Aggregate amortization expense 2022 | 7,672 | |
Aggregate amortization expense 2023 | 3,787 | |
Aggregate amortization expense 2024 | 1,711 | |
Finite-Lived Intangible Assets, Net | $ 21,312 | $ 34,446 |
Other Assets (Details)
Other Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | |
Other Assets [Abstract] | |||
Cash surrender value of BOLI | $ 204,177 | $ 203,031 | |
LIHTC investments | 216,285 | 213,034 | |
Operating lease ROU assets, net (1) | [1] | 122,372 | 119,787 |
Interest receivable | 100,107 | 101,596 | |
Taxes receivable | 33,744 | 59,565 | |
Equity investments without readily determinable fair values | 34,441 | 34,304 | |
SBIC Investments | 33,374 | 32,327 | |
Prepaid expenses | 21,384 | 22,999 | |
Equity warrants | [2] | 4,589 | 4,520 |
Equity investments with readily determinable fair values | 10,266 | 6,147 | |
Other receivables/assets | 102,914 | 63,016 | |
Other assets | $ 883,653 | $ 860,326 | |
[1] | See Note 9. Leases for further details regarding the operating lease ROU assets. | ||
[2] | See Note 11. Derivatives for information regarding equity warrants. |
Leases Leases - Lease Expense (
Leases Leases - Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Lease, Cost [Abstract] | ||
Fixed costs | $ 8,496 | $ 8,245 |
Variable costs | 15 | 13 |
Short-term lease costs | 256 | 92 |
Sublease income | (1,099) | (1,016) |
Net lease expense | 7,668 | 7,334 |
Cash paid for amounts included in the measurement of lease liabilities: | ||
Operating cash flows from operating leases | 9,278 | 8,236 |
ROU assets obtained in exchange for lease obligations: | ||
Operating leases | $ 10,482 | $ 4,560 |
Leases - Supplemental Cash Flow
Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Leases [Abstract] | ||
Operating cash flows from operating leases | $ 9,278 | $ 8,236 |
Operating leases | $ 10,482 | $ 4,560 |
Leases - Supplemental Balance S
Leases - Supplemental Balance Sheet and Other Information (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Leases [Abstract] | ||
Finance Lease, Right-of-Use Asset | $ 122,372 | $ 119,787 |
Operating leases: | ||
Operating Lease, Liability | $ 141,717 | $ 139,501 |
Weighted average remaining lease term (in years) | 5 years 7 months 6 days | 5 years 9 months 18 days |
Weighted average discount rate | 2.40% | 2.54% |
Leases - Maturities of Operatin
Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Lessee, Operating Lease, Liability, Payment, Due [Abstract] | ||
2021 | $ 26,769 | |
2022 | 31,639 | |
2023 | 28,718 | |
2024 | 21,407 | |
2025 | 14,596 | |
Thereafter | 29,017 | |
Total operating lease liabilities | 152,146 | |
Less: Imputed interest | (10,429) | |
Present value of operating lease liabilities | $ 141,717 | $ 139,501 |
Leases Leases (Details 4)
Leases Leases (Details 4) $ in Thousands | Mar. 31, 2021USD ($) |
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract] | |
2021 | $ 30,548 |
2022 | 39,884 |
2023 | 30,621 |
2024 | 24,880 |
2025 | 18,113 |
Thereafter | 40,893 |
Total undiscounted cash flows | $ 184,939 |
Borrowings and Subordinated D_3
Borrowings and Subordinated Debentures - Summary of Borrowings and Debentures (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Borrowings | $ 19,750 | $ 5,000 |
Rate | 4.86% | 0.00% |
AFX short-term borrowings | ||
Debt Instrument [Line Items] | ||
Balance | $ 0 | $ 0 |
Federal Home Loan Bank of San Francisco | FHLB secured advances | ||
Debt Instrument [Line Items] | ||
Balance | $ 5,000 | $ 5,000 |
Rate | 0.00% | 0.00% |
Federal Home Loan Bank of San Francisco | FHLB unsecured overnight advance | ||
Debt Instrument [Line Items] | ||
Balance | $ 0 | $ 0 |
Borrowings and Subordinated D_4
Borrowings and Subordinated Debentures - Interest Rates and Maturity Dates of FHLB Secured Advances (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Rate | 4.86% | 0.00% |
Borrowings | $ 19,750 | $ 5,000 |
FHLB secured advances | Federal Home Loan Bank of San Francisco | ||
Debt Instrument [Line Items] | ||
Balance | $ 5,000 | $ 5,000 |
Rate | 0.00% | 0.00% |
Other borrowings | ||
Debt Instrument [Line Items] | ||
Rate | 6.50% | 0.00% |
Balance | $ 14,750 | $ 0 |
2020 | Federal Home Loan Bank of San Francisco | ||
Debt Instrument [Line Items] | ||
Balance | $ 5,000 | $ 5,000 |
2020 | FHLB secured advances | Federal Home Loan Bank of San Francisco | ||
Debt Instrument [Line Items] | ||
Short-term Debt, Percentage Bearing Fixed Interest Rate | 0.00% | 0.00% |
September 1, 2021 | Other borrowings | ||
Debt Instrument [Line Items] | ||
Rate | 6.50% | 0.00% |
Balance | $ 8,125 | $ 0 |
October 1, 2021 | Other borrowings | ||
Debt Instrument [Line Items] | ||
Rate | 6.50% | 0.00% |
Balance | $ 6,625 | $ 0 |
Borrowings and Subordinated D_5
Borrowings and Subordinated Debentures - Subordinated Debentures (Details) $ in Thousands, € in Millions | 3 Months Ended | |||
Mar. 31, 2021USD ($) | Mar. 31, 2021EUR (€) | Dec. 31, 2020USD ($) | ||
Subordinated Borrowing [Line Items] | ||||
Subordinated Debentures, Gross | $ 542,022 | $ 543,275 | ||
Subordinated debentures | $ 465,814 | $ 465,812 | ||
Rate | 4.86% | 4.86% | 0.00% | |
Trust Preferred Securities Two Thousand Six Series Three | ||||
Subordinated Borrowing [Line Items] | ||||
Denomination value | € | € 25.8 | |||
London Interbank Offered Rate (LIBOR) | Subordinated Debt Trust V Due September 2033 | ||||
Subordinated Borrowing [Line Items] | ||||
Rate Index (Quarterly Reset) | 3.10% | |||
London Interbank Offered Rate (LIBOR) | Subordinated Debt Trust VI Due September 2033 | ||||
Subordinated Borrowing [Line Items] | ||||
Rate Index (Quarterly Reset) | 3.05% | |||
London Interbank Offered Rate (LIBOR) | Subordinated Debt Trust CII Due September 2033 | ||||
Subordinated Borrowing [Line Items] | ||||
Rate Index (Quarterly Reset) | 2.95% | |||
London Interbank Offered Rate (LIBOR) | Subordinated Debt Trust VII Due April 2034 | ||||
Subordinated Borrowing [Line Items] | ||||
Rate Index (Quarterly Reset) | 2.75% | |||
London Interbank Offered Rate (LIBOR) | Subordinated Debt Trust CIII Due September 2035 | ||||
Subordinated Borrowing [Line Items] | ||||
Rate Index (Quarterly Reset) | 1.69% | |||
London Interbank Offered Rate (LIBOR) | Subordinated Debt Trust FCCI Due March 2037 | ||||
Subordinated Borrowing [Line Items] | ||||
Rate Index (Quarterly Reset) | 1.60% | |||
London Interbank Offered Rate (LIBOR) | Subordinated Debt Trust FCBI Due December 2035 | ||||
Subordinated Borrowing [Line Items] | ||||
Rate Index (Quarterly Reset) | 1.55% | |||
London Interbank Offered Rate (LIBOR) | Trust Preferred Securities Two Thousand Five Series One | ||||
Subordinated Borrowing [Line Items] | ||||
Rate Index (Quarterly Reset) | 1.95% | |||
London Interbank Offered Rate (LIBOR) | Trust Preferred Securities Two Thousand Five Series Two | ||||
Subordinated Borrowing [Line Items] | ||||
Rate Index (Quarterly Reset) | 1.95% | |||
London Interbank Offered Rate (LIBOR) | Two Thousand Six One Term Debt Securitization | ||||
Subordinated Borrowing [Line Items] | ||||
Rate Index (Quarterly Reset) | 1.95% | |||
London Interbank Offered Rate (LIBOR) | Two Thousand Six Two Term Debt Securitization | ||||
Subordinated Borrowing [Line Items] | ||||
Rate Index (Quarterly Reset) | 1.95% | |||
London Interbank Offered Rate (LIBOR) | Trust Preferred Securities Two Thousand Six Series Four | ||||
Subordinated Borrowing [Line Items] | ||||
Rate Index (Quarterly Reset) | 1.95% | |||
London Interbank Offered Rate (LIBOR) | Trust Preferred Securities Two Thousand Six Series Five | ||||
Subordinated Borrowing [Line Items] | ||||
Rate Index (Quarterly Reset) | 1.95% | |||
London Interbank Offered Rate (LIBOR) | Two Thousand Seven One Term Debt Securitization | ||||
Subordinated Borrowing [Line Items] | ||||
Rate Index (Quarterly Reset) | 1.95% | |||
Euribor Rate | Trust Preferred Securities Two Thousand Six Series Three | ||||
Subordinated Borrowing [Line Items] | ||||
Rate Index (Quarterly Reset) | 2.05% | |||
Subordinated Debentures | ||||
Subordinated Borrowing [Line Items] | ||||
Unamortized discount | [1] | $ (76,208) | $ (77,463) | |
Rate | 2.23% | 2.23% | 2.24% | |
Subordinated Debentures | Subordinated Debt Trust V Due September 2033 | ||||
Subordinated Borrowing [Line Items] | ||||
Balance | $ 10,310 | $ 10,310 | ||
Rate | 3.28% | 3.28% | 3.33% | |
Date Issued | Aug. 15, 2003 | |||
Maturity Date | Sep. 17, 2033 | |||
Subordinated Debentures | Subordinated Debt Trust VI Due September 2033 | ||||
Subordinated Borrowing [Line Items] | ||||
Balance | $ 10,310 | $ 10,310 | ||
Rate | 3.23% | 3.23% | 3.27% | |
Date Issued | Sep. 3, 2003 | |||
Maturity Date | Sep. 15, 2033 | |||
Subordinated Debentures | Subordinated Debt Trust CII Due September 2033 | ||||
Subordinated Borrowing [Line Items] | ||||
Balance | $ 5,155 | $ 5,155 | ||
Rate | 3.13% | 3.13% | 3.18% | |
Date Issued | Sep. 17, 2003 | |||
Maturity Date | Sep. 17, 2033 | |||
Subordinated Debentures | Subordinated Debt Trust VII Due April 2034 | ||||
Subordinated Borrowing [Line Items] | ||||
Balance | $ 61,856 | $ 61,856 | ||
Rate | 2.96% | 2.96% | 2.96% | |
Date Issued | Feb. 5, 2004 | |||
Maturity Date | Apr. 23, 2034 | |||
Subordinated Debentures | Subordinated Debt Trust CIII Due September 2035 | ||||
Subordinated Borrowing [Line Items] | ||||
Balance | $ 20,619 | $ 20,619 | ||
Rate | 1.87% | 1.87% | 1.91% | |
Date Issued | Aug. 15, 2005 | |||
Maturity Date | Sep. 15, 2035 | |||
Subordinated Debentures | Subordinated Debt Trust FCCI Due March 2037 | ||||
Subordinated Borrowing [Line Items] | ||||
Balance | $ 16,495 | $ 16,495 | ||
Rate | 1.78% | 1.78% | 1.82% | |
Date Issued | Jan. 25, 2007 | |||
Maturity Date | Mar. 15, 2037 | |||
Subordinated Debentures | Subordinated Debt Trust FCBI Due December 2035 | ||||
Subordinated Borrowing [Line Items] | ||||
Balance | $ 10,310 | $ 10,310 | ||
Rate | 1.73% | 1.73% | 1.77% | |
Date Issued | Sep. 30, 2005 | |||
Maturity Date | Dec. 15, 2035 | |||
Subordinated Debentures | Trust Preferred Securities Two Thousand Five Series One | ||||
Subordinated Borrowing [Line Items] | ||||
Balance | $ 82,475 | $ 82,475 | ||
Rate | 2.13% | 2.13% | 2.17% | |
Date Issued | Nov. 21, 2005 | |||
Maturity Date | Dec. 15, 2035 | |||
Subordinated Debentures | Trust Preferred Securities Two Thousand Five Series Two | ||||
Subordinated Borrowing [Line Items] | ||||
Balance | $ 128,866 | $ 128,866 | ||
Rate | 2.16% | 2.16% | 2.16% | |
Date Issued | Dec. 14, 2005 | |||
Maturity Date | Jan. 30, 2036 | |||
Subordinated Debentures | Two Thousand Six One Term Debt Securitization | ||||
Subordinated Borrowing [Line Items] | ||||
Balance | $ 51,545 | $ 51,545 | ||
Rate | 2.16% | 2.16% | 2.16% | |
Date Issued | Feb. 22, 2006 | |||
Maturity Date | Apr. 30, 2036 | |||
Subordinated Debentures | Two Thousand Six Two Term Debt Securitization | ||||
Subordinated Borrowing [Line Items] | ||||
Balance | $ 51,550 | $ 51,550 | ||
Rate | 2.16% | 2.16% | 2.16% | |
Date Issued | Sep. 27, 2006 | |||
Maturity Date | Oct. 30, 2036 | |||
Subordinated Debentures | Trust Preferred Securities Two Thousand Six Series Three | ||||
Subordinated Borrowing [Line Items] | ||||
Balance | [2] | $ 30,234 | $ 31,487 | |
Rate | 1.51% | 1.51% | 1.54% | |
Date Issued | Sep. 29, 2006 | |||
Maturity Date | Oct. 30, 2036 | |||
Subordinated Debentures | Trust Preferred Securities Two Thousand Six Series Four | ||||
Subordinated Borrowing [Line Items] | ||||
Balance | $ 16,470 | $ 16,470 | ||
Rate | 2.16% | 2.16% | 2.16% | |
Date Issued | Dec. 5, 2006 | |||
Maturity Date | Jan. 30, 2037 | |||
Subordinated Debentures | Trust Preferred Securities Two Thousand Six Series Five | ||||
Subordinated Borrowing [Line Items] | ||||
Balance | $ 6,650 | $ 6,650 | ||
Rate | 2.16% | 2.16% | 2.16% | |
Date Issued | Dec. 19, 2006 | |||
Maturity Date | Jan. 30, 2037 | |||
Subordinated Debentures | Two Thousand Seven One Term Debt Securitization | ||||
Subordinated Borrowing [Line Items] | ||||
Balance | $ 39,177 | $ 39,177 | ||
Rate | 2.16% | 2.16% | 2.16% | |
Date Issued | Jun. 13, 2007 | |||
Maturity Date | Jul. 30, 2037 | |||
[1] | Amount represents the fair value adjustment on trust preferred securities assumed in acquisitions. | |||
[2] | Denomination is in Euros with a value of €25.8 million. |
Borrowings and Subordinated D_6
Borrowings and Subordinated Debentures - Narrative (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | |
Unused Lines of Credit | ||
Debt Instrument [Line Items] | ||
Amount outstanding | $ 0 | $ 0 |
Current borrowing capacity | 180,000,000 | |
Unused commitment fees | 0 | |
AFX short-term borrowings | ||
Debt Instrument [Line Items] | ||
Amount outstanding | 0 | 0 |
Federal Reserve Bank Advances | ||
Debt Instrument [Line Items] | ||
Loans pledged as collateral | 1,800,000,000 | |
Amount outstanding | 0 | 0 |
Federal Reserve Bank Advances | FHLB secured advances | ||
Debt Instrument [Line Items] | ||
Borrowing capacity description | 1,400,000,000 | |
Federal Home Loan Bank of San Francisco | ||
Debt Instrument [Line Items] | ||
Loans pledged as collateral | 5,000,000,000 | |
Federal Home Loan Bank of San Francisco | FHLB secured advances | ||
Debt Instrument [Line Items] | ||
Borrowing capacity description | 3,500,000,000 | |
Current outstanding | 5,000,000 | 5,000,000 |
Federal Home Loan Bank of San Francisco | FHLB unsecured overnight advance | ||
Debt Instrument [Line Items] | ||
Current outstanding | 0 | $ 0 |
Federal Home Loan Bank of San Francisco | Unused Lines of Credit | ||
Debt Instrument [Line Items] | ||
Borrowing capacity description | $ 112,000,000 |
Derivatives (Details)
Derivatives (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | $ 114,715 | $ 157,056 |
Derivative assets | 7,757 | 8,750 |
Interest rate contracts | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 63,753 | 59,867 |
Derivative assets | 937 | 1,028 |
Interest rate contracts | Liability | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 63,753 | 59,867 |
Derivative liabilities | 831 | 1,004 |
Foreign exchange contracts | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 27,873 | 73,108 |
Derivative assets | 2,231 | 3,202 |
Foreign exchange contracts | Liability | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 27,873 | 73,108 |
Derivative liabilities | 590 | 146 |
Interest rate and economic contracts | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 91,626 | 132,975 |
Derivative assets | 3,168 | 4,230 |
Interest rate and economic contracts | Liability | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 91,626 | 132,975 |
Derivative liabilities | 1,421 | 1,150 |
Equity warrant assets | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 23,089 | 24,081 |
Derivative assets | $ 4,589 | $ 4,520 |
Commitments and Contingencies -
Commitments and Contingencies - Summary of Commitments (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Commitments and Contingencies Disclosure [Abstract] | ||
Loan commitments to extend credit | $ 8,127,999 | $ 7,601,390 |
Standby letters of credit | 312,573 | 337,336 |
Commitments to contribute capital to small business investment companies and CRA-related loan pools | 54,785 | 55,499 |
Total | $ 8,495,357 | $ 7,994,225 |
Commitments and Contingencies_2
Commitments and Contingencies - Years In Which Commitments are Expected to be Paid (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Other Commitments [Line Items] | ||
Commitments to contribute capital to small business investment companies and CRA-related loan pools | $ 54,785 | $ 55,499 |
2020 | ||
Other Commitments [Line Items] | ||
Commitments to contribute capital to small business investment companies and CRA-related loan pools | 27,393 | |
2021 | ||
Other Commitments [Line Items] | ||
Commitments to contribute capital to small business investment companies and CRA-related loan pools | $ 27,392 |
Commitments and Contingencies_3
Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 |
Commitments and Contingencies Disclosure [Abstract] | ||
Commitment to contribute capital | $ 54.8 | $ 55.5 |
Fair Value Measurements - Narra
Fair Value Measurements - Narrative (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
SBIC Investments | $ 33,374,000 | $ 32,327,000 |
Warrant | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | $ (67,000) |
Fair Value Measurements - Asset
Fair Value Measurements - Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 5,941,690 | $ 5,235,591 |
Securities available-for-sale, at fair value | 5,941,690 | 5,235,591 |
Equity Securities, FV-NI | 10,266 | 6,147 |
Derivative Liability | 1,421 | 1,150 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity warrants | 4,520 | |
Government agency and government-sponsored enterprise pass through securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 1,273,402 | 1,281,877 |
Government agency and government-sponsored enterprise collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 1,108,828 | 1,219,880 |
Private label collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 103,376 | 116,946 |
Collateralized loan obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 244,240 | 135,876 |
Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 1,646,054 | 1,531,617 |
Asset-backed Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 224,015 | 249,503 |
SBA asset-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 36,910 | 41,627 |
Corporate debt securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 380,407 | 311,889 |
U.S. Treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 491,358 | 5,302 |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 5,941,690 | |
Equity warrants | 4,589 | 4,520 |
Interest rate and economic contracts | 3,168 | 4,230 |
Fair Value, Measurements, Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 491,358 | 5,302 |
Equity warrants | 0 | 0 |
Interest rate and economic contracts | 0 | 0 |
Equity Securities, FV-NI | 10,266 | 6,147 |
Fair Value, Measurements, Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 5,422,036 | 5,199,917 |
Equity warrants | 0 | 0 |
Interest rate and economic contracts | 3,168 | 4,230 |
Equity Securities, FV-NI | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value | 28,296 | 30,372 |
Equity warrants | 4,589 | 4,520 |
Interest rate and economic contracts | 0 | 0 |
Equity Securities, FV-NI | 0 | 0 |
Fair Value, Measurements, Recurring | Government agency and government-sponsored enterprise pass through securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 433,100 | 341,074 |
Fair Value, Measurements, Recurring | Government agency and government-sponsored enterprise pass through securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Government agency and government-sponsored enterprise pass through securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 433,100 | 341,074 |
Fair Value, Measurements, Recurring | Government agency and government-sponsored enterprise pass through securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Government agency and government-sponsored enterprise collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 1,108,828 | 1,219,880 |
Fair Value, Measurements, Recurring | Government agency and government-sponsored enterprise collateralized mortgage obligations | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Government agency and government-sponsored enterprise collateralized mortgage obligations | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 1,108,828 | 1,219,880 |
Fair Value, Measurements, Recurring | Government agency and government-sponsored enterprise collateralized mortgage obligations | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Private label collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 103,376 | 116,946 |
Fair Value, Measurements, Recurring | Private label collateralized mortgage obligations | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Private label collateralized mortgage obligations | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 98,962 | 112,299 |
Fair Value, Measurements, Recurring | Private label collateralized mortgage obligations | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 4,414 | 4,647 |
Fair Value, Measurements, Recurring | Collateralized loan obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 244,240 | 135,876 |
Fair Value, Measurements, Recurring | Collateralized loan obligations | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Collateralized loan obligations | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 244,240 | 135,876 |
Fair Value, Measurements, Recurring | Collateralized loan obligations | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 1,646,054 | 1,531,617 |
Fair Value, Measurements, Recurring | Municipal securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Municipal securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 1,646,054 | 1,531,617 |
Fair Value, Measurements, Recurring | Municipal securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Government agency and government-sponsored enterprise commercial mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 1,273,402 | 1,281,877 |
Fair Value, Measurements, Recurring | Government agency and government-sponsored enterprise commercial mortgage-backed securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Government agency and government-sponsored enterprise commercial mortgage-backed securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 1,273,402 | 1,281,877 |
Fair Value, Measurements, Recurring | Government agency and government-sponsored enterprise commercial mortgage-backed securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Asset-backed Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 224,015 | 249,503 |
Fair Value, Measurements, Recurring | Asset-backed Securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Asset-backed Securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 200,133 | 223,778 |
Fair Value, Measurements, Recurring | Asset-backed Securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 23,882 | 25,725 |
Fair Value, Measurements, Recurring | SBA asset-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 36,910 | 41,627 |
Fair Value, Measurements, Recurring | SBA asset-backed securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | SBA asset-backed securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 36,910 | 41,627 |
Fair Value, Measurements, Recurring | SBA asset-backed securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Corporate debt securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 380,407 | 311,889 |
Fair Value, Measurements, Recurring | Corporate debt securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Corporate debt securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 380,407 | 311,889 |
Fair Value, Measurements, Recurring | Corporate debt securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | U.S. Treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 491,358 | 5,302 |
Fair Value, Measurements, Recurring | U.S. Treasury securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 491,358 | 5,302 |
Fair Value, Measurements, Recurring | U.S. Treasury securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | U.S. Treasury securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 0 | $ 0 |
Fair Value Measurements - Quant
Fair Value Measurements - Quantitative Inputs and Assumptions Used to Determine Fair Value for Private Label CMOs and Asset-backed Securities Available-for-sale (Details) - Level 3 - Fair Value, Measurements, Recurring | 3 Months Ended | |
Mar. 31, 2021 | ||
Measurement Input, Prepayment Rate | Minimum | Private label collateralized mortgage obligations | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Private Label Collateralized Mortgage Obligations, Measurement Input | 0.046 | |
Measurement Input, Prepayment Rate | Minimum | Asset-backed Securities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.100 | |
Measurement Input, Prepayment Rate | Maximum | Private label collateralized mortgage obligations | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Private Label Collateralized Mortgage Obligations, Measurement Input | 0.199 | |
Measurement Input, Prepayment Rate | Maximum | Asset-backed Securities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.150 | |
Measurement Input, Prepayment Rate | Weighted Average | Covered Private Label Collateralized Mortgage Obligations Member [Domain] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Private Label Collateralized Mortgage Obligations, Measurement Input | 0.115 | [1] |
Measurement Input, Prepayment Rate | Weighted Average | Asset-backed Securities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.121 | [2] |
Measurement Input, Default Rate | Minimum | Private label collateralized mortgage obligations | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Private Label Collateralized Mortgage Obligations, Measurement Input | 0.003 | [3] |
Measurement Input, Default Rate | Minimum | Asset-backed Securities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.020 | |
Measurement Input, Default Rate | Maximum | Private label collateralized mortgage obligations | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Private Label Collateralized Mortgage Obligations, Measurement Input | 0.182 | [3] |
Measurement Input, Default Rate | Maximum | Asset-backed Securities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.020 | |
Measurement Input, Default Rate | Weighted Average | Covered Private Label Collateralized Mortgage Obligations Member [Domain] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Private Label Collateralized Mortgage Obligations, Measurement Input | 0.024 | [1],[3] |
Measurement Input, Default Rate | Weighted Average | Asset-backed Securities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.020 | [2],[3] |
Measurement Input, Loss Severity | Minimum | Private label collateralized mortgage obligations | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Private Label Collateralized Mortgage Obligations, Measurement Input | 0.169 | [3] |
Measurement Input, Loss Severity | Minimum | Asset-backed Securities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.600 | |
Measurement Input, Loss Severity | Maximum | Private label collateralized mortgage obligations | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Private Label Collateralized Mortgage Obligations, Measurement Input | 0.804 | [3] |
Measurement Input, Loss Severity | Maximum | Asset-backed Securities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.600 | |
Measurement Input, Loss Severity | Weighted Average | Covered Private Label Collateralized Mortgage Obligations Member [Domain] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Private Label Collateralized Mortgage Obligations, Measurement Input | 0.558 | [1],[3] |
Measurement Input, Loss Severity | Weighted Average | Asset-backed Securities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.600 | [2],[3] |
Measurement Input, Discount Rate | Minimum | Private label collateralized mortgage obligations | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Private Label Collateralized Mortgage Obligations, Measurement Input | 0.016 | |
Measurement Input, Discount Rate | Minimum | Asset-backed Securities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.027 | |
Measurement Input, Discount Rate | Maximum | Private label collateralized mortgage obligations | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Private Label Collateralized Mortgage Obligations, Measurement Input | 0.099 | |
Measurement Input, Discount Rate | Maximum | Asset-backed Securities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.036 | |
Measurement Input, Discount Rate | Weighted Average | Covered Private Label Collateralized Mortgage Obligations Member [Domain] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Private Label Collateralized Mortgage Obligations, Measurement Input | 0.068 | [1] |
Measurement Input, Discount Rate | Weighted Average | Asset-backed Securities | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Asset-Backed Securities, Measurement Input | 0.028 | [2] |
[1] | Unobservable inputs for private label residential CMOs were weighted by the relative fair values of the instruments. | |
[2] | Voluntary annual prepayment speeds and discount rates for asset-backed securities were weighted by the relative fair values of the instruments. | |
[3] | Annual default rates and loss severity rates were the same for all of the asset-backed securities. |
Fair Value Measurements - Qua_2
Fair Value Measurements - Quantitative Inputs and Assumptions Used for Equity Warrants (Details) - Warrant - Fair Value, Measurements, Recurring - Level 3 | 3 Months Ended | |
Mar. 31, 2021 | ||
Weighted Average | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Warrants, Measurement Input, Remaining Life | 2 years 10 months 28 days | [1] |
Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Warrants, Measurement Input, Remaining Life | 29 days | |
Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Warrants, Measurement Input, Remaining Life | 4 years 11 months 23 days | |
Measurement Input, Price Volatility | Weighted Average | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Volatility | 0.301 | [1] |
Measurement Input, Price Volatility | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Volatility | 0.244 | |
Measurement Input, Price Volatility | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Volatility | 1.591 | |
Measurement Input, Risk Free Interest Rate | Weighted Average | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Volatility | 0.004 | [1] |
Measurement Input, Risk Free Interest Rate | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Volatility | 0 | |
Measurement Input, Risk Free Interest Rate | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Volatility | 0.009 | |
[1] | Unobservable inputs for equity warrants were weighted by the relative fair values of the instruments. |
Fair Value Measurements - Activ
Fair Value Measurements - Activity for Level 3 Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | |
Level 3 CMO [Roll Forward] | |||
Unrealized net holding gains (losses) on securities available-for-sale arising during the period | $ (91,523,000) | $ 22,988,000 | $ 17,183,000 |
Level 3 | |||
Level 3 CMO [Roll Forward] | |||
Equity warrants, Balance, beginning of period | 4,520,000 | ||
Total included in earnings, Equity Warrants | 6,123,000 | ||
Total included in other comprehensive income | 0 | ||
Stock and Warrants Issued During Period, Value, Preferred Stock and Warrants | 57,000 | ||
Sales, Equity Warrants | (6,044,000) | ||
Net settlements, Equity Warrants | 0 | ||
Equity warrants, Balance, end of period | 4,520,000 | ||
Fair Value, Equity, Transfers to Level 1, Amount | (67,000) | ||
Fair Value, Measurements, Recurring | |||
Level 3 CMO [Roll Forward] | |||
Equity warrants, Balance, beginning of period | 4,520,000 | ||
Equity warrants, Balance, end of period | 4,589,000 | 4,520,000 | |
Fair Value, Measurements, Recurring | Level 3 | |||
Level 3 CMO [Roll Forward] | |||
Equity warrants, Balance, beginning of period | 4,520,000 | ||
Equity warrants, Balance, end of period | 4,589,000 | 4,520,000 | |
Private Label CMOs | Fair Value, Measurements, Recurring | Level 3 | |||
Level 3 CMO [Roll Forward] | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 4,647,000 | ||
Total included in earnings | 73,000 | ||
Total included in other comprehensive income | (87,000) | ||
Stock and Warrants Issued During Period, Value, Preferred Stock and Warrants | 0 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales | 0 | ||
Net settlements | (219,000) | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 4,414,000 | 4,647,000 | |
Unrealized net holding gains (losses) on securities available-for-sale arising during the period | 1,007,000 | ||
Fair Value, Equity, Transfers to Level 1, Amount | 0 | ||
Asset-backed | Fair Value, Measurements, Recurring | Level 3 | |||
Level 3 CMO [Roll Forward] | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 25,725,000 | ||
Total included in earnings | (22,000) | ||
Total included in other comprehensive income | 16,000 | ||
Stock and Warrants Issued During Period, Value, Preferred Stock and Warrants | 0 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales | 0 | ||
Net settlements | (1,837,000) | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 23,882,000 | $ 25,725,000 | |
Unrealized net holding gains (losses) on securities available-for-sale arising during the period | 171,000 | ||
Fair Value, Equity, Transfers to Level 1, Amount | 0 | ||
Warrant | |||
Level 3 CMO [Roll Forward] | |||
Fair value transfers of assets measured on a recurring basis | $ 67,000 |
Fair Value Measurements - Ass_2
Fair Value Measurements - Assets Measured at Fair Value on a Non-Recurring Basis (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets | $ 24,811 | $ 102,274 | ||
Level 1 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets | 0 | 0 | ||
Level 2 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets | 0 | 4,160 | ||
Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets | 24,811 | 98,114 | ||
Non Purchased Credit Impaired Loans and Leases | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets | 24,440 | [1] | 102,274 | [2] |
Non Purchased Credit Impaired Loans and Leases | Level 1 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets | 0 | [1] | 0 | [2] |
Non Purchased Credit Impaired Loans and Leases | Level 2 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets | 0 | [1] | 4,160 | [2] |
Non Purchased Credit Impaired Loans and Leases | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets | 24,440 | [1] | $ 98,114 | [2] |
Other real estate and foreclosed assets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets | 371 | |||
Other real estate and foreclosed assets | Level 1 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets | 0 | |||
Other real estate and foreclosed assets | Level 2 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets | 0 | |||
Other real estate and foreclosed assets | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets | $ 371 | |||
[1] | Includes nonaccrual loans and leases and performing TDRs with balances greater than $250,000. | |||
[2] | Includes nonaccrual loans and leases and performing TDRs with balances greater than $250,000. |
Fair Value Measurements - Losse
Fair Value Measurements - Losses Recognized on Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total losses | $ 716 | $ 19,012 |
Non Purchased Credit Impaired Loans and Leases | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total losses | 702 | 18,907 |
Other real estate and foreclosed assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total losses | $ 14 | $ 105 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value Measurements - Valuation Methodology and Unobservable Inputs for Level 3 Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring $ in Thousands | 3 Months Ended | |||
Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 24,811 | $ 102,274 | ||
Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 24,811 | 98,114 | ||
Level 2 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 0 | 4,160 | ||
Non Purchased Credit Impaired Loans and Leases | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 24,440 | [1] | 102,274 | [2] |
Non Purchased Credit Impaired Loans and Leases | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 24,440 | [1] | 98,114 | [2] |
Non Purchased Credit Impaired Loans and Leases | Level 2 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 0 | [1] | $ 4,160 | [2] |
Other real estate and foreclosed assets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 371 | |||
Other real estate and foreclosed assets | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 371 | |||
Other real estate and foreclosed assets | Level 2 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 0 | |||
Discount Rates | Discounted Cash Flow | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 22,402 | |||
No Discounts | Third party appraisals | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 2,038 | |||
No Discounts | Third party appraisals | Other real estate and foreclosed assets | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 371 | |||
Measurement Input, Discount Rate | Minimum | Discounted Cash Flow | Non Purchased Credit Impaired Loans and Leases | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Discount rates | 0.0375 | |||
Measurement Input, Discount Rate | Maximum | Discounted Cash Flow | Non Purchased Credit Impaired Loans and Leases | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Discount rates | 0.0775 | |||
Measurement Input, Discount Rate | Discount Rates | Weighted Average | Discounted Cash Flow | Non Purchased Credit Impaired Loans and Leases | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Discount rates | 0.0630 | |||
Measurement Input, Discount Rate | Discount From Appraisals | Third party appraisals | Other real estate and foreclosed assets | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Discount rates | 13 | |||
Measurement Input, Discount Rate | Discount From Appraisals | Weighted Average | Third party appraisals | Other real estate and foreclosed assets | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Discount rates | 0.1300 | |||
[1] | Includes nonaccrual loans and leases and performing TDRs with balances greater than $250,000. | |||
[2] | Includes nonaccrual loans and leases and performing TDRs with balances greater than $250,000. |
Fair Value Measurements - Carry
Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Certain Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and due from banks | $ 177,199 | $ 150,464 | ||
Interest-earning deposits in financial institutions | 5,517,667 | 3,010,197 | ||
Securities available-for-sale, Carrying Amount | 5,941,690 | 5,235,591 | ||
Investment in FHLB stock, Carrying Amount | 17,250 | 17,250 | ||
Investment in FHLB stock, Fair Value | 17,250 | 17,250 | ||
Loans Held-for-sale, Fair Value Disclosure | 26,975 | |||
Loans and leases, net | [1] | 18,686,783 | 18,735,196 | |
Loans and leases held for investment, net | 19,312,854 | |||
Warrants and Rights Outstanding | 4,520 | |||
Other derivative assets, Carrying Amount | 3,168 | 4,230 | $ 4,589 | |
Equity Securities, FV-NI | 10,266 | 6,147 | ||
Demand, interest checking, money market, and savings deposits | 25,576,348 | 22,264,480 | ||
Interest-bearing Domestic Deposit, Brokered | 1,162,590 | 1,149,467 | ||
Time deposits | 1,484,353 | 1,526,770 | ||
Time deposits | 1,486,556 | 1,527,639 | ||
Borrowings | 19,750 | 5,000 | ||
Borrowings | 20,185 | 4,995 | ||
Subordinated debentures | 465,814 | 465,812 | ||
Subordinated Debt Obligations, Fair Value Disclosure | 448,273 | 448,036 | ||
Derivative Liability | 1,421 | 1,150 | ||
Level 1 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and due from banks | 177,199 | 150,464 | ||
Interest-earning deposits in financial institutions | 5,517,667 | 3,010,197 | ||
Investment in FHLB stock, Fair Value | 0 | 0 | ||
Loans Held-for-sale, Fair Value Disclosure | 0 | |||
Demand, interest checking, money market, and savings deposits | 0 | 0 | ||
Interest-bearing Domestic Deposit, Brokered | 0 | 0 | ||
Time deposits | 0 | 0 | ||
Borrowings | 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 FHLB stock, Fair Value | 17,250 | 17,250 | ||
Loans Held-for-sale, Fair Value Disclosure | 26,975 | |||
Demand, interest checking, money market, and savings deposits | 25,576,348 | 22,264,480 | ||
Interest-bearing Domestic Deposit, Brokered | 1,162,590 | 1,149,467 | ||
Time deposits | 1,486,556 | 1,527,639 | ||
Borrowings | 20,185 | 4,995 | ||
Subordinated Debt Obligations, Fair Value Disclosure | 448,273 | 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 FHLB stock, Fair Value | 0 | 0 | ||
Loans Held-for-sale, Fair Value Disclosure | 0 | |||
Loans and leases held for investment, net | 19,312,854 | |||
Equity warrants | 4,520 | |||
Demand, interest checking, money market, and savings deposits | 0 | 0 | ||
Interest-bearing Domestic Deposit, Brokered | 0 | 0 | ||
Time deposits | 0 | 0 | ||
Borrowings | 0 | 0 | ||
Subordinated Debt Obligations, Fair Value Disclosure | 0 | 0 | ||
Fair Value, Measurements, Recurring | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Equity warrants | 4,589 | 4,520 | ||
Other derivative assets, Fair Value | 3,168 | 4,230 | ||
Derivative liabilities | 1,421 | 1,150 | ||
Fair Value, Measurements, Recurring | Level 1 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Securities available-for-sale, Carrying Amount | 491,358 | 5,302 | ||
Equity warrants | 0 | 0 | ||
Other derivative assets, Fair Value | 0 | 0 | ||
Equity Securities, FV-NI | 10,266 | 6,147 | ||
Derivative liabilities | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 2 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Securities available-for-sale, Carrying Amount | 5,422,036 | 5,199,917 | ||
Equity warrants | 0 | 0 | ||
Other derivative assets, Fair Value | 3,168 | 4,230 | ||
Equity Securities, FV-NI | 0 | 0 | ||
Derivative liabilities | 1,421 | 1,150 | ||
Fair Value, Measurements, Recurring | Level 3 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Securities available-for-sale, Carrying Amount | 28,296 | 30,372 | ||
Equity warrants | 4,589 | 4,520 | ||
Other derivative assets, Fair Value | 0 | 0 | ||
Equity Securities, FV-NI | 0 | 0 | ||
Derivative liabilities | 0 | 0 | ||
NonPCI and PCI Loans | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Loans and leases held for investment, net | 19,305,998 | |||
NonPCI and PCI Loans | Level 1 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Loans and leases held for investment, net | 0 | 0 | ||
NonPCI and PCI Loans | Level 2 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Loans and leases held for investment, net | $ 0 | 4,160 | ||
NonPCI and PCI Loans | Level 3 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Loans and leases held for investment, net | $ 19,301,838 | |||
[1] | Excludes accrued interest receivable of $76.3 million and $79.7 million at March 31, 2021 and December 31, 2020, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets. |
Earnings (Loss) Per Share (Deta
Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |||
Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | ||
Earnings Per Share [Abstract] | ||||
Net earnings from continuing operations | $ 150,406 | $ (1,433,111) | ||
Less: Earnings allocated to unvested restricted stock | [1] | (2,355) | (939) | |
Net earnings allocated to common shares | $ 148,051 | $ (1,434,050) | ||
Weighted-average basic shares and unvested restricted stock outstanding (shares) | 118,852 | 118,775 | ||
Weighted-average unvested restricted stock outstanding (shares) | (2,003) | (1,495) | ||
Weighted-average basic shares outstanding (shares) | 116,849 | 117,280 | ||
Basic net income per share (usd per share) | $ 1.27 | $ 0.99 | $ (12.23) | |
Net earnings from continuing operations allocated to common shares | $ 148,051 | $ (1,434,050) | ||
Diluted net income per share (usd per share) | $ 1.27 | $ 0.99 | $ (12.23) | |
[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_3
Revenue From Contracts With Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | |
Disaggregation of Revenue [Line Items] | |||
Total interest income | $ 273,337 | $ 272,176 | $ 291,332 |
Service charges on deposit accounts | 2,934 | 3,119 | 2,658 |
Other commissions and fees | 9,158 | 9,974 | 9,721 |
Leased equipment income | 11,354 | 9,440 | 12,251 |
Gain on sale of loans and leases | 139 | 1,671 | 87 |
Gain on sale of securities | 101 | 4 | 182 |
Other income | 21,143 | 15,642 | 4,201 |
Total noninterest income | 44,829 | $ 39,850 | 29,100 |
Revenues | 318,166 | 320,432 | |
Service charges on deposit accounts | 5,971 | 7,148 | |
Interest Income | |||
Disaggregation of Revenue [Line Items] | |||
Service charges on deposit accounts | 0 | 0 | |
Service charges on deposit accounts | |||
Disaggregation of Revenue [Line Items] | |||
Service charges on deposit accounts | 2,934 | 2,658 | |
Other commissions and fees | |||
Disaggregation of Revenue [Line Items] | |||
Service charges on deposit accounts | 2,857 | 4,154 | |
Leased equipment income | |||
Disaggregation of Revenue [Line Items] | |||
Service charges on deposit accounts | 0 | 0 | |
Gain on sale of loans | |||
Disaggregation of Revenue [Line Items] | |||
Service charges on deposit accounts | 0 | 0 | |
Gain on sale of securities | |||
Disaggregation of Revenue [Line Items] | |||
Service charges on deposit accounts | 0 | 0 | |
Other income | |||
Disaggregation of Revenue [Line Items] | |||
Service charges on deposit accounts | 180 | 336 | |
Noninterest Income | |||
Disaggregation of Revenue [Line Items] | |||
Service charges on deposit accounts | $ 5,971 | $ 7,148 |
Revenue From Contracts With C_4
Revenue From Contracts With Customers - Disaggregation of Revenue Based on Timing of Revenue Recognition (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Revenue From Contracts With Customers [Abstract] | ||
Products and services transferred at a point in time | $ 2,997 | $ 4,236 |
Products and services transferred over time | 2,974 | 2,912 |
Total revenue from contracts with customers | $ 5,971 | $ 7,148 |
Revenue From Contracts With C_5
Revenue From Contracts With Customers - Contract Balances (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Revenue From Contracts With Customers [Abstract] | ||
Receivables, which are included in "Other assets" | $ 976 | $ 1,046 |
Contract assets, which are included in "Other assets" | 0 | 0 |
Contract liabilities, which are included in "Accrued interest payable and other liabilities" | $ 327 | $ 359 |
Revenue From Contracts With C_6
Revenue From Contracts With Customers - Narrative (Details) | Dec. 31, 2020USD ($) |
Revenue From Contracts With Customers [Abstract] | |
Contract with Customer, Liability | $ 32,000 |
Stock-Based Compensation - Narr
Stock-Based Compensation - Narrative (Details) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021USD ($)shares | Mar. 31, 2020USD ($) | Dec. 31, 2020shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted Stock Amortization | $ | $ 6,400 | $ 6,500 | |
Unvested restricted shares (shares) | 2,189,181 | 1,608,126 | |
Vesting period of time-based restricted stock, lower limit | three | ||
Vesting period of time-based restricted stock, higher limit | 4 years | ||
Discount From Appraisals | Other real estate and foreclosed assets | Level 3 | Fair Value, Measurements, Nonrecurring | Measurement Input, Discount Rate | Third party appraisals | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Discount rates | 13 | ||
Discount From Appraisals | Weighted Average | Other real estate and foreclosed assets | Level 3 | Fair Value, Measurements, Nonrecurring | Measurement Input, Discount Rate | Third party appraisals | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Discount rates | 0.1300 | ||
Performance Shares | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unvested restricted shares (shares) | 531,333 | ||
Vesting term | 3 years | ||
Performance Shares | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting percentage | 0.00% | ||
Performance Shares, One | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting percentage | 150.00% | ||
Performance Shares, Two | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting percentage | 200.00% | ||
PacWest 2017 Stock Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares authorized (shares) | 4,000,000 | ||
Number of shares available for grant (shares) | 990,570 | ||
Unrecognized share based compensation expense | $ | $ 67,200 | ||
PacWest 2017 Stock Incentive Plan [Member] | Time-Based Restricted Stock Awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unvested restricted shares (shares) | 2,189,181 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) | May 03, 2021 | Apr. 30, 2021 | Apr. 01, 2021 | Mar. 31, 2021 | Mar. 31, 2020 | Feb. 01, 2021 | Dec. 31, 2020 |
Subsequent Event [Line Items] | |||||||
Dividends declared per share (usd per share) | $ 0.25 | $ 0.60 | |||||
Assets | $ 32,856,533,000 | $ 29,498,442,000 | |||||
Goodwill | $ 1,204,092,000 | $ 1,078,670,000 | |||||
Civic | |||||||
Subsequent Event [Line Items] | |||||||
Assets | $ 308,019,000 | ||||||
Goodwill | $ 125,422,000 | ||||||
Subsequent Event | Dividend Declared | |||||||
Subsequent Event [Line Items] | |||||||
Dividends declared per share (usd per share) | $ 0.25 | ||||||
Subsequent Event | April 30, 2021 Issuance | |||||||
Subsequent Event [Line Items] | |||||||
Subordinated Debt | $ 400,000,000 | ||||||
Subordinated Borrowing, Interest Rate | 3.25% | ||||||
Subsequent Event | HOASD | |||||||
Subsequent Event [Line Items] | |||||||
Deposit Premium on Acquisition | 5.90% | ||||||
Business Combination, Consideration Transferred | $ 250,000,000 | ||||||
Business Combination, Deposits Acquired | $ 4,000,000,000 |