Cover Page
Cover Page - shares | 9 Months Ended | |
Sep. 30, 2021 | Oct. 29, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Transition Report | false | |
Document Period End Date | Sep. 30, 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 $0.01 per share | |
Trading Symbol | PACW | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Central Index Key | 0001102112 | |
Entity Filer Category | Large Accelerated Filer | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Interactive Data Current | Yes | |
Document Quarterly Report | true | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 117,257,813 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | |
ASSETS: | |||
Cash and due from banks | $ 174,585 | $ 150,464 | |
Interest-earning deposits in financial institutions | 3,524,613 | 3,010,197 | |
Total cash, cash equivalents, and restricted cash | 3,699,198 | 3,160,661 | |
Debt Securities, Available-for-sale | 9,276,926 | 5,235,591 | |
Federal Home Loan Bank stock, at cost | 17,250 | 17,250 | |
Total investment securities | 9,294,176 | 5,252,841 | |
Gross loans and leases held for investment | 20,588,255 | 19,153,357 | |
Deferred fees, net | (77,235) | (69,980) | |
Allowance for loan and lease losses | (203,733) | (348,181) | |
Total loans and leases held for investment, net | [1] | 20,307,287 | 18,735,196 |
Equipment leased to others under operating leases | 334,275 | 333,846 | |
Premises and equipment, net | 47,246 | 39,234 | |
Foreclosed assets, net | 13,364 | 14,027 | |
Goodwill | 1,204,118 | 1,078,670 | |
Core deposit and customer relationship intangibles, net | 15,533 | 23,641 | |
Other assets | 970,479 | 860,326 | |
Total assets | 35,885,676 | 29,498,442 | |
LIABILITIES AND STOCKHOLDERS' EQUITY | |||
Noninterest-bearing deposits | 12,881,806 | 9,193,827 | |
Interest-bearing deposits | 17,677,939 | 15,746,890 | |
Total deposits | 30,559,745 | 24,940,717 | |
Borrowings | 0 | 5,000 | |
Subordinated debentures | 862,447 | 465,812 | |
Accrued interest payable and other liabilities | 545,050 | 491,962 | |
Total liabilities | 31,967,242 | 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 September 30, 2021 and December 31, 2020; 122,093,755 and 120,736,834 shares issued, respectively, including 2,321,753 and 1,608,126 shares of unvested restricted stock, respectively) | 1,221 | 1,207 | |
Additional paid-in capital | 3,035,052 | 3,100,633 | |
Retained earnings | 880,305 | 409,391 | |
Treasury stock, at cost (2,514,189 and 2,321,981 shares at September 30, 2021 and December 31, 2020) | (97,003) | (88,803) | |
Accumulated other comprehensive income, net | 98,859 | 172,523 | |
Total stockholders' equity | 3,918,434 | 3,594,951 | |
Total liabilities and stockholders' equity | $ 35,885,676 | $ 29,498,442 | |
[1] | Excludes accrued interest receivable of $75.7 million and $79.7 million at September 30, 2021 and December 31, 2020, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets. |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Earnings - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Jun. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Interest income: | |||||
Loans and leases | $ 246,722 | $ 244,529 | $ 240,811 | $ 732,795 | $ 750,940 |
Investment securities | 40,780 | 33,954 | 24,443 | 104,999 | 77,927 |
Deposits in financial institutions | 2,580 | 2,022 | 654 | 6,130 | 2,448 |
Total interest income | 290,082 | 280,505 | 265,908 | 843,924 | 831,315 |
Interest expense: | |||||
Deposits | 6,417 | 7,269 | 9,887 | 21,186 | 51,209 |
Borrowings | 101 | 265 | 27 | 559 | 8,124 |
Subordinated debt | 7,722 | 6,663 | 4,670 | 18,760 | 16,632 |
Total interest expense | 14,240 | 14,197 | 14,584 | 40,505 | 75,965 |
Net interest income | 275,842 | 266,308 | 251,324 | 803,419 | 755,350 |
Provision for credit losses | (20,000) | (88,000) | 97,000 | (156,000) | 329,000 |
Net interest income after provision for credit losses | 295,842 | 354,308 | 154,324 | 959,419 | 426,350 |
Noninterest income: | |||||
Leased equipment income | 11,792 | 10,704 | 10,541 | 31,654 | 30,373 |
Other commissions and fees | 10,943 | 10,847 | 9,900 | 33,144 | 34,188 |
Service charges on deposit accounts | 3,407 | 3,452 | 2,570 | 9,793 | 7,232 |
Gain on sale of loans and leases | 0 | 1,422 | 35 | 1,561 | 468 |
Gain on sale of securities | 515 | 0 | 5,270 | 616 | 13,167 |
Other income | 24,688 | 13,946 | 9,936 | 59,777 | 20,782 |
Total noninterest income | 51,345 | 40,371 | 38,252 | 136,545 | 106,210 |
Noninterest expense: | |||||
Compensation | 98,061 | 90,807 | 75,131 | 268,750 | 198,323 |
Occupancy | 14,928 | 14,784 | 14,771 | 43,766 | 43,472 |
Leased equipment depreciation | 8,603 | 8,614 | 7,057 | 26,186 | 21,364 |
Data processing | 7,391 | 7,758 | 6,505 | 22,106 | 20,061 |
Other professional services | 5,164 | 5,256 | 4,713 | 15,546 | 13,117 |
Insurance and assessments | 3,685 | 3,745 | 3,939 | 12,333 | 17,561 |
Customer related expense | 4,538 | 4,973 | 4,762 | 14,329 | 13,102 |
Loan expense | 4,180 | 4,031 | 3,499 | 11,404 | 9,528 |
Intangible asset amortization | 2,890 | 2,889 | 3,751 | 8,858 | 11,581 |
Acquisition, integration and reorganization costs | 200 | 200 | 0 | 3,825 | 0 |
Foreclosed assets expense (income), net | 165 | (119) | 335 | 47 | 255 |
Goodwill impairment | 0 | 0 | 0 | 0 | 1,470,000 |
Other expense | 9,616 | 8,812 | 8,939 | 34,157 | 29,973 |
Total noninterest expense | 159,421 | 151,750 | 133,402 | 461,307 | 1,848,337 |
Earnings (loss) before income taxes | 187,766 | 242,929 | 59,174 | 634,657 | (1,315,777) |
Income tax expense | (47,770) | (62,417) | (13,671) | (163,743) | (38,627) |
Net earnings (loss) | $ 139,996 | $ 180,512 | $ 45,503 | $ 470,914 | $ (1,354,404) |
Earnings (loss) per share: | |||||
Basic (usd per share) | $ 1.17 | $ 1.52 | $ 0.38 | $ 3.96 | $ (11.60) |
Diluted (usd per share) | $ 1.17 | $ 1.52 | $ 0.38 | $ 3.96 | $ (11.60) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2021 | Jun. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | ||
Statement of Comprehensive Income [Abstract] | ||||||
Net earnings | $ 139,996 | $ 180,512 | $ 45,503 | $ 470,914 | $ (1,354,404) | |
Other comprehensive income (loss), net of tax: | ||||||
Unrealized net holding gains (losses) on securities available-for-sale arising during the period | (63,956) | 54,076 | 19,745 | (101,403) | 119,708 | |
Income tax (expense) benefit related to unrealized holding gains (losses) arising during the period | 17,672 | (14,941) | (5,510) | 28,185 | (33,399) | |
Unrealized net holding gains (losses) on securities available-for-sale, net of tax | (46,284) | 39,135 | 14,235 | (73,218) | 86,309 | |
Reclassification adjustment for net (gains) losses included in net earnings | [1] | (515) | 0 | (5,270) | (616) | (13,167) |
Income tax expense (benefit) related to reclassification adjustment | 142 | 0 | 1,471 | 170 | 3,674 | |
Reclassification adjustment for net (gains) losses included in net earnings, net of tax | (373) | 0 | (3,799) | (446) | (9,493) | |
Other comprehensive income (loss), net of tax | (46,657) | 39,135 | 10,436 | (73,664) | 76,816 | |
Comprehensive income (loss) | $ 93,339 | $ 219,647 | $ 55,939 | $ 397,250 | $ (1,277,588) | |
[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 | ||||
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 | (1,354,404) | ||||||||
Ending Period Balance at Sep. 30, 2020 | $ 3,486,231 | $ 1,208 | 3,125,554 | 292,561 | (88,566) | 155,474 | |||
Shares outstanding, ending balance (shares) at Sep. 30, 2020 | 118,489,927 | ||||||||
Dividends declared per share (usd per share) | $ 0.25 | ||||||||
Beginning Period Balance at Mar. 31, 2020 | $ 3,390,389 | $ 1,201 | 3,171,312 | 213,854 | (86,894) | 90,916 | |||
Shares outstanding, beginning balance (shares) at Mar. 31, 2020 | 117,916,789 | ||||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||||
Net earnings | 33,204 | 33,204 | |||||||
Other comprehensive income - net unrealized gain on securities available-for-sale, net of tax | 54,122 | 54,122 | |||||||
Restricted stock awarded and earned compensation, net of shares forfeited (shares) | 550,738 | ||||||||
Restricted stock awarded and earned stock compensation, net of shares forfeited | 6,289 | $ 6 | 6,283 | ||||||
Restricted stock surrendered (shares) | (92,924) | ||||||||
Restricted stock surrendered | (1,601) | (1,601) | |||||||
Cash dividends paid | (29,505) | (29,505) | |||||||
Ending Period Balance at Jun. 30, 2020 | $ 3,452,898 | $ 1,207 | 3,148,090 | 247,058 | (88,495) | 145,038 | |||
Shares outstanding, ending balance (shares) at Jun. 30, 2020 | 118,374,603 | ||||||||
Dividends declared per share (usd per share) | $ 0.25 | ||||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||||
Net earnings | $ 45,503 | 45,503 | |||||||
Other comprehensive income - net unrealized gain on securities available-for-sale, net of tax | 10,436 | 10,436 | |||||||
Restricted stock awarded and earned compensation, net of shares forfeited (shares) | 119,158 | ||||||||
Restricted stock awarded and earned stock compensation, net of shares forfeited | 7,064 | $ 1 | 7,063 | ||||||
Restricted stock surrendered (shares) | (3,834) | ||||||||
Restricted stock surrendered | (71) | (71) | |||||||
Common stock repurchased under Stock Repurchase Program | (29,599) | ||||||||
Cash dividends paid | (29,599) | ||||||||
Ending Period Balance at Sep. 30, 2020 | $ 3,486,231 | $ 1,208 | 3,125,554 | 292,561 | (88,566) | 155,474 | |||
Shares outstanding, ending balance (shares) at Sep. 30, 2020 | 118,489,927 | ||||||||
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 | ||||||||
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 | 470,914 | ||||||||
Ending Period Balance at Sep. 30, 2021 | $ 3,918,434 | $ 1,221 | 3,035,052 | 880,305 | (97,003) | 98,859 | |||
Shares outstanding, ending balance (shares) at Sep. 30, 2021 | 119,579,566 | ||||||||
Dividends declared per share (usd per share) | $ 0.25 | ||||||||
Beginning Period Balance at Mar. 31, 2021 | $ 3,654,137 | $ 1,215 | 3,077,455 | 559,797 | (90,711) | 106,381 | |||
Shares outstanding, beginning balance (shares) at Mar. 31, 2021 | 119,105,642 | ||||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||||
Net earnings | 180,512 | 180,512 | |||||||
Other comprehensive income - net unrealized gain on securities available-for-sale, net of tax | 39,135 | 39,135 | |||||||
Restricted stock awarded and earned compensation, net of shares forfeited (shares) | 586,271 | ||||||||
Restricted stock awarded and earned stock compensation, net of shares forfeited | 8,989 | $ 6 | 8,983 | ||||||
Restricted stock surrendered (shares) | (136,811) | ||||||||
Restricted stock surrendered | (6,176) | (6,176) | |||||||
Cash dividends paid | (29,916) | (29,916) | |||||||
Ending Period Balance at Jun. 30, 2021 | $ 3,846,681 | $ 1,221 | 3,056,522 | 740,309 | (96,887) | 145,516 | |||
Shares outstanding, ending balance (shares) at Jun. 30, 2021 | 119,555,102 | ||||||||
Dividends declared per share (usd per share) | $ 0.25 | ||||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||||
Net earnings | $ 139,996 | 139,996 | |||||||
Other comprehensive income - net unrealized gain on securities available-for-sale, net of tax | (46,657) | (46,657) | |||||||
Restricted stock awarded and earned compensation, net of shares forfeited (shares) | 27,206 | ||||||||
Restricted stock awarded and earned stock compensation, net of shares forfeited | 8,501 | $ 0 | 8,501 | ||||||
Restricted stock surrendered (shares) | (2,742) | ||||||||
Restricted stock surrendered | (116) | (116) | |||||||
Cash dividends paid | (29,971) | (29,971) | |||||||
Ending Period Balance at Sep. 30, 2021 | $ 3,918,434 | $ 1,221 | $ 3,035,052 | $ 880,305 | $ (97,003) | $ 98,859 | |||
Shares outstanding, ending balance (shares) at Sep. 30, 2021 | 119,579,566 | ||||||||
[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 $ in Thousands | 9 Months Ended | |
Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | |
Cash flows from operating activities: | ||
Net earnings (loss) | $ 470,914 | $ (1,354,404) |
Goodwill impairment | 0 | 1,470,000 |
Depreciation and amortization | 38,311 | 33,303 |
Amortization of net premiums on securities available-for-sale | 28,480 | 9,994 |
Amortization of intangible assets | 8,858 | 11,581 |
Amortization of operating lease ROU assets | 22,866 | 22,080 |
Provision for credit losses | (156,000) | 329,000 |
Gain on sale of foreclosed assets | (135) | (187) |
Provision for losses on foreclosed assets | 14 | 267 |
Gain on sale of loans and leases | (1,561) | (468) |
(Gain) loss on sale of premises and equipment | (5) | 309 |
Gain on sale of securities | (616) | (13,167) |
Gain on BOLI death benefit | 491 | 0 |
Unrealized (gain) loss on derivatives and foreign currencies, net | (804) | 494 |
Earned stock compensation | 23,907 | 19,847 |
Increase in other assets | (1,516) | (60,450) |
Decrease in accrued interest payable and other liabilities | (39,911) | (125,262) |
Net cash provided by operating activities | 392,311 | 342,937 |
Cash flows from investing activities: | ||
Payments to Acquire Businesses, Gross | (123,090) | 0 |
Net increase in loans and leases | (1,485,780) | (269,253) |
Proceeds from sales of loans and leases | 128,541 | 6,536 |
Proceeds from maturities and paydowns of securities available-for-sale | 628,988 | 292,769 |
Proceeds from sales of securities available-for-sale | 121,351 | 167,267 |
Purchases of securities available-for-sale | (4,921,557) | (1,085,749) |
Net redemptions of Federal Home Loan Bank stock | 0 | 23,674 |
Proceeds from sales of foreclosed assets | 1,846 | 983 |
Purchases of premises and equipment, net | (15,078) | (11,013) |
Proceeds from sales of premises and equipment | 95 | 4 |
Proceeds from BOLI death benefit | 4,143 | 761 |
Net (increase) decrease in equipment leased to others under operating leases | (16,346) | 16,860 |
Net cash used in investing activities | (5,676,887) | (857,161) |
Cash flows from financing activities: | ||
Net increase in noninterest-bearing deposits | 3,650,640 | 2,105,033 |
Net increase in interest-bearing deposits | 1,931,049 | 2,629,213 |
Net decrease in borrowings | (55,210) | (1,699,008) |
Common stock repurchased and restricted stock surrendered | 394,308 | 0 |
Common stock repurchased and restricted stock surrendered | (8,200) | (75,132) |
Cash dividends paid | (89,474) | (130,310) |
Net cash provided by financing activities | 5,823,113 | 2,829,796 |
Net increase in cash, cash equivalents, and restricted cash | 538,537 | 2,315,572 |
Cash, cash equivalents, and restricted cash, beginning of period | 3,160,661 | 637,624 |
Cash, cash equivalents, and restricted cash, end of period | 3,699,198 | 2,953,196 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 35,505 | 86,060 |
Cash paid for income taxes | 94,770 | 92,953 |
Loans transferred to foreclosed assets | 1,062 | 14,370 |
Transfers from loans held for investment to loans held for sale | 25,554 | $ 0 |
Liabilities | $ 31,967,242 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 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 | 122,093,755 | 120,736,834 |
Unvested restricted shares (shares) | 2,321,753 | 1,608,126 |
Treasury Stock (shares) | 2,514,189 | 2,321,981 |
Organization
Organization | 9 Months Ended |
Sep. 30, 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 69 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 provides 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. The Bank also offers financing of non-owner-occupied investor properties through Civic Financial Services, a wholly-owned subsidiary. The Bank also offers a specialized suite of services for the HOA industry. In addition, we provide investment advisory and asset management services to select clients through Pacific Western Asset Management Inc., a wholly-owned subsidiary of the Bank and an SEC-registered investment adviser. We generate our revenue primarily from interest received on loans and leases and, to a lesser extent, from interest received on investment securities, and fees received in connection with deposit services, extending credit and other services offered, including 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. Reclassifications Certain prior period amounts have been reclassified to conform to the current period’s presentation format. In our loan and allowance tables, we realigned our venture capital subclasses to better reflect and report our lending. Prior to the realignment, our venture capital subclasses were: (1) equity fund loans, (2) early stage, (3) expansion stage, and (4) late stage. After the realignment, our venture capital subclasses are: (1) equity fund loans and (2) venture lending (which includes early stage, expansion stage, and late stage). Additionally, we realigned our other commercial subclasses by moving our cash flow subclass into the other lending subclass. All of the loan and allowance tables, both current period and prior periods, reflect these realignments. In our securities available-for-sale tables, we are presenting a new line for private label commercial MBS, which had previously been included with the asset-backed securities line. All of the securities available-for-sale tables, both current period and prior periods, reflect this new presentation. |
Acquisition
Acquisition | 9 Months Ended |
Sep. 30, 2021 | |
Business Combinations [Abstract] | |
Acquisition | ACQUISITIONS 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 September 30, 2021 had $1.0 billion of loans outstanding. The loans are categorized as either income producing and other residential real estate mortgage or residential real estate construction and land based on their purpose. The Civic acquisition has been accounted for under the acquisition method of accounting. We acquired $308.0 million of assets and assumed $147.6 million of liabilities upon closing of the acquisition. We made significant estimates and exercised significant judgment in estimating fair values and accounting for such acquired assets and assumed liabilities. Such fair values are preliminary estimates and are subject to adjustment for up to one year after the acquisition date or when additional information relative to the closing date fair values becomes available and such information is considered final, whichever is earlier. The application of the acquisition method of accounting resulted in the recognition of goodwill of $125.4 million. All of the recognized goodwill is expected to be deductible for tax purposes. 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 $ 37,331 Loans and leases 67,294 Premises and equipment 1,197 Goodwill 125,448 Customer relationship intangible 750 Other assets 75,977 Total assets acquired $ 307,997 Liabilities Assumed: Noninterest-bearing demand deposits $ 37,339 Borrowings 50,210 Accrued interest payable and other liabilities 60,028 Total liabilities assumed $ 147,577 Total consideration - paid in cash $ 160,420 |
Restricted Cash Balances
Restricted Cash Balances | 9 Months Ended |
Sep. 30, 2021 | |
Restricted Cash [Abstract] | |
Restricted Cash Balances | RESTRICTED CASH BALANCES The 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 nine months ended September 30, 2021. The average reserves required to be held at the FRBSF for the nine months ended September 30, 2020 was $55.2 million. As of September 30, 2021 and December 31, 2020, we pledged cash collateral for our derivative contracts of $2.0 million and $2.9 million. |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 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: September 30, 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) Agency residential MBS $ 2,185,544 $ 11,236 $ (15,787) $ 2,180,993 $ 329,488 $ 12,483 $ (897) $ 341,074 Municipal securities 1,929,753 67,167 (6,991) 1,989,929 1,438,004 93,631 (18) 1,531,617 Agency commercial MBS 1,269,984 49,063 (5,023) 1,314,024 1,207,676 74,238 (37) 1,281,877 Agency residential CMOs 1,062,836 29,440 (3,739) 1,088,537 1,172,166 47,994 (280) 1,219,880 U.S. Treasury securities 973,307 2,060 (4,099) 971,268 4,989 313 — 5,302 Corporate debt securities 505,800 11,976 (1,161) 516,615 308,803 3,490 (404) 311,889 Private label commercial MBS 389,030 716 (1,428) 388,318 81,878 1,089 (10) 82,957 Collateralized loan obligations 359,057 163 (673) 358,547 136,777 23 (924) 135,876 Private label residential CMOs 301,743 3,508 (1,570) 303,681 110,891 6,076 (21) 116,946 Asset-backed securities 132,421 855 (279) 132,997 166,861 445 (760) 166,546 SBA securities 30,849 1,185 (17) 32,017 39,437 2,217 (27) 41,627 Total $ 9,140,324 $ 177,369 $ (40,767) $ 9,276,926 $ 4,996,970 $ 241,999 $ (3,378) $ 5,235,591 As of September 30, 2021, securities available-for-sale with a fair value of $492.0 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 Nine Months Ended September 30, September 30, Sales of Securities Available-for-Sale 2021 2020 2021 2020 (In thousands) Amortized cost of securities sold $ 76,184 $ 17,000 $ 120,735 $ 154,100 Gross realized gains $ 517 $ 5,270 $ 618 $ 13,199 Gross realized losses (2) — (2) (32) Net realized gains $ 515 $ 5,270 $ 616 $ 13,167 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: September 30, 2021 Less Than 12 Months 12 Months or More Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Security Type Value Losses Value Losses Value Losses (In thousands) Agency residential MBS $ 1,697,399 $ (15,779) $ 680 $ (8) $ 1,698,079 $ (15,787) Municipal securities 583,499 (6,860) 2,559 (131) 586,058 (6,991) Agency commercial MBS 282,753 (5,023) — — 282,753 (5,023) Agency residential CMOs 189,684 (3,700) 11,283 (39) 200,967 (3,739) U.S. Treasury securities 632,950 (4,099) — — 632,950 (4,099) Corporate debt securities 127,786 (1,161) — — 127,786 (1,161) Private label commercial MBS 266,238 (1,428) — — 266,238 (1,428) Collateralized loan obligations 202,528 (600) 43,930 (73) 246,458 (673) Private label residential CMOs 234,541 (1,555) 319 (15) 234,860 (1,570) Asset-backed securities 25,044 (49) 16,126 (230) 41,170 (279) SBA securities — — 1,897 (17) 1,897 (17) Total $ 4,242,422 $ (40,254) $ 76,794 $ (513) $ 4,319,216 $ (40,767) December 31, 2020 Less Than 12 Months 12 Months or More Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Security Type Value Losses Value Losses Value Losses (In thousands) Agency residential MBS $ 90,722 $ (897) $ — $ — $ 90,722 $ (897) Municipal securities 5,919 (18) — — 5,919 (18) Agency commercial MBS 58,408 (37) — — 58,408 (37) Agency residential CMOs 97,863 (280) — — 97,863 (280) Corporate debt securities 87,596 (404) — — 87,596 (404) Private label commercial MBS 3,058 (10) — — 3,058 (10) Collateralized loan obligations 96,442 (729) 28,972 (195) 125,414 (924) Private label residential CMOs 788 (19) 74 (2) 862 (21) Asset-backed securities 14,636 (53) 61,031 (707) 75,667 (760) SBA securities 2,127 (27) — — 2,127 (27) Total $ 457,559 $ (2,474) $ 90,077 $ (904) $ 547,636 $ (3,378) The securities that were in an unrealized loss position at September 30, 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: September 30, 2021 Amortized Fair Maturities Cost Value (In thousands) Due in one year or less $ 40,903 $ 41,218 Due after one year through five years 578,943 606,629 Due after five years through ten years 2,991,339 3,029,128 Due after ten years 5,529,139 5,599,951 Total securities available-for-sale $ 9,140,324 $ 9,276,926 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 Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In thousands) Taxable interest $ 31,980 $ 17,835 $ 79,156 $ 59,457 Non-taxable interest 8,542 6,272 25,113 17,113 Dividend income 258 336 730 1,357 Total interest income on investment securities $ 40,780 $ 24,443 $ 104,999 $ 77,927 |
Loans and Leases
Loans and Leases | 9 Months Ended |
Sep. 30, 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: September 30, December 31, 2021 2020 (In thousands) Real estate mortgage $ 9,590,037 $ 7,905,193 Real estate construction and land 3,699,435 3,393,145 Commercial 6,892,846 7,534,801 Consumer 405,937 320,218 Total gross loans and leases held for investment 20,588,255 19,153,357 Deferred fees, net (77,235) (69,980) Total loans and leases held for investment, net of deferred fees 20,511,020 19,083,377 Allowance for loan and lease losses (203,733) (348,181) Total loans and leases held for investment, net (1) $ 20,307,287 $ 18,735,196 ____________________ (1) Excludes accrued interest receivable of $75.7 million and $79.7 million at September 30, 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: September 30, 2021 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 899 $ 2,954 $ 3,853 $ 3,690,744 $ 3,694,597 Income producing and other residential 3,760 5,661 9,421 5,876,939 5,886,360 Total real estate mortgage 4,659 8,615 13,274 9,567,683 9,580,957 Real estate construction and land: Commercial — — — 992,003 992,003 Residential 13,017 19,587 32,604 2,627,266 2,659,870 Total real estate construction and land 13,017 19,587 32,604 3,619,269 3,651,873 Commercial: Asset-based — 479 479 3,661,290 3,661,769 Venture capital 1,670 — 1,670 1,631,191 1,632,861 Other commercial 561 1,654 2,215 1,575,377 1,577,592 Total commercial 2,231 2,133 4,364 6,867,858 6,872,222 Consumer 1,042 357 1,399 404,569 405,968 Total $ 20,949 $ 30,692 $ 51,641 $ 20,459,379 $ 20,511,020 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: September 30, 2021 December 31, 2020 Nonaccrual Performing Total Nonaccrual Performing Total (In thousands) Real estate mortgage: Commercial $ 25,615 $ 3,668,982 $ 3,694,597 $ 43,731 $ 4,052,940 $ 4,096,671 Income producing and other residential 7,547 5,878,813 5,886,360 1,826 3,801,439 3,803,265 Total real estate mortgage 33,162 9,547,795 9,580,957 45,557 7,854,379 7,899,936 Real estate construction and land: Commercial — 992,003 992,003 315 1,116,806 1,117,121 Residential 19,918 2,639,952 2,659,870 — 2,243,160 2,243,160 Total real estate construction and land 19,918 3,631,955 3,651,873 315 3,359,966 3,360,281 Commercial: Asset-based 1,605 3,660,164 3,661,769 2,679 3,426,604 3,429,283 Venture capital 2,348 1,630,513 1,632,861 1,980 1,696,528 1,698,508 Other commercial 6,979 1,570,613 1,577,592 40,243 2,334,871 2,375,114 Total commercial 10,932 6,861,290 6,872,222 44,902 7,458,003 7,502,905 Consumer 495 405,473 405,968 389 319,866 320,255 Total $ 64,507 $ 20,446,513 $ 20,511,020 $ 91,163 $ 18,992,214 $ 19,083,377 At September 30, 2021, nonaccrual loans and leases included $30.7 million of loans and leases 90 or more days past due, $0.7 million of loans and leases 30 to 89 days past due, and $33.2 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 September 30, 2021, our three largest loan relationships on nonaccrual status had an aggregate carrying value of $16.6 million and represented 26% 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. September 30, 2021 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 69,059 $ 202,029 $ 3,423,509 $ 3,694,597 Income producing and other residential 13,603 73,831 5,798,926 5,886,360 Total real estate mortgage 82,662 275,860 9,222,435 9,580,957 Real estate construction and land: Commercial — 67,649 924,354 992,003 Residential 19,918 7,324 2,632,628 2,659,870 Total real estate construction and land 19,918 74,973 3,556,982 3,651,873 Commercial: Asset-based 4,734 87,980 3,569,055 3,661,769 Venture capital 4,840 38,281 1,589,740 1,632,861 Other commercial 28,926 17,107 1,531,559 1,577,592 Total commercial 38,500 143,368 6,690,354 6,872,222 Consumer 524 2,165 403,279 405,968 Total $ 141,604 $ 496,366 $ 19,873,050 $ 20,511,020 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 Nine Months Three Months Nine Months Ended Ended Ended Ended September 30, September 30, September 30, September 30, September 30, September 30, 2021 2021 2021 2020 2020 2020 Nonaccrual Interest Interest Nonaccrual Interest Interest Recorded Income Income Recorded Income Income Investment Recognized Recognized Investment Recognized Recognized (In thousands) With An Allowance Recorded: Real estate mortgage: Commercial $ 72 $ — $ — $ 736 $ — $ — Income producing and other residential 3,323 — — 1,163 — — Real estate construction and land: Residential 1,987 — — — — — Commercial: Asset based 1,126 — — 2,248 — — Venture capital 2,347 — — 2,001 — — Other commercial 1,170 — — 1,235 — — Consumer 495 — — 404 — — With No Related Allowance Recorded: Real estate mortgage: Commercial $ 25,543 $ 90 $ 511 $ 44,384 $ 155 $ 285 Income producing and other residential 4,224 — — 845 — — Real estate construction and land: Commercial — — — 324 — — Residential 17,931 — — — — — Commercial: Asset based 479 — — 569 — — Other commercial 5,810 3 5 31,706 517 1,628 Total Loans and Leases With and Without an Allowance Recorded: Real estate mortgage $ 33,162 $ 90 $ 511 $ 47,128 $ 155 $ 285 Real estate construction and land 19,918 — — 324 — — Commercial 10,932 3 5 37,759 517 1,628 Consumer 495 — — 404 — — Total $ 64,507 $ 93 $ 516 $ 85,615 $ 672 $ 1,913 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 September 30, 2021 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Real Estate Mortgage: Commercial Internal risk rating: 1-2 High pass $ 565 $ 5,835 $ 48,421 $ 5,816 $ 10,448 $ 37,536 $ 2 $ — $ 108,623 3-4 Pass 316,700 539,855 344,575 536,615 505,934 1,014,656 44,726 11,825 3,314,886 5 Special mention — 4,839 67,336 79,223 7,985 42,646 — — 202,029 6-8 Classified — 494 17,116 5,767 12,473 33,209 — — 69,059 Total $ 317,265 $ 551,023 $ 477,448 $ 627,421 $ 536,840 $ 1,128,047 $ 44,728 $ 11,825 $ 3,694,597 Current YTD period: Gross charge-offs $ — $ — $ 190 $ 168 $ 53 $ 168 $ — $ — $ 579 Gross recoveries — — — — — (5,934) — — (5,934) Net $ — $ — $ 190 $ 168 $ 53 $ (5,766) $ — $ — $ (5,355) Real Estate Mortgage: Income Producing and Other Residential Internal risk rating: 1-2 High pass $ 28,374 $ 32,923 $ 62,522 $ 26,751 $ 13,363 $ 26,586 $ 28,044 $ — $ 218,563 3-4 Pass 2,327,323 625,371 713,871 944,356 594,336 265,707 109,206 193 5,580,363 5 Special mention 384 13,803 17,214 42,270 — — 160 — 73,831 6-8 Classified 334 4,022 — 3,045 101 5,793 — 308 13,603 Total $ 2,356,415 $ 676,119 $ 793,607 $ 1,016,422 $ 607,800 $ 298,086 $ 137,410 $ 501 $ 5,886,360 Current YTD period: Gross charge-offs $ 28 $ 1 $ — $ — $ — $ 55 $ — $ — $ 84 Gross recoveries — — — — — (55) (1) — (56) Net $ 28 $ 1 $ — $ — $ — $ — $ (1) $ — $ 28 Real Estate Construction and Land: Commercial Internal risk rating: 1-2 High pass $ — $ — $ 43 $ — $ — $ — $ — $ — $ 43 3-4 Pass 29,494 100,207 367,405 396,084 725 14,220 16,176 — 924,311 5 Special mention — — — — 67,649 — — — 67,649 6-8 Classified — — — — — — — — — Total $ 29,494 $ 100,207 $ 367,448 $ 396,084 $ 68,374 $ 14,220 $ 16,176 $ — $ 992,003 Current YTD period: Gross charge-offs $ — $ — $ — $ 775 $ — $ — $ — $ — $ 775 Gross recoveries — — — — — — — — — Net $ — $ — $ — $ 775 $ — $ — $ — $ — $ 775 Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term September 30, 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 841,092 532,400 973,649 195,691 51,769 5,471 25,435 7,121 2,632,628 5 Special mention 1,767 5,557 — — — — — — 7,324 6-8 Classified 5,398 5,899 8,621 — — — — — 19,918 Total $ 848,257 $ 543,856 $ 982,270 $ 195,691 $ 51,769 $ 5,471 $ 25,435 $ 7,121 $ 2,659,870 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Gross recoveries — — — — — — — — — Net $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial: Asset-Based Internal risk rating: 1-2 High pass $ 103,920 $ 76,652 $ 172,748 $ 120,030 $ 67,234 $ 183,114 $ 577,818 $ 54,890 $ 1,356,406 3-4 Pass 83,672 86,281 62,353 48,794 16,584 38,221 1,866,135 10,609 2,212,649 5 Special mention — — 50,293 20,949 — — 12,640 4,098 87,980 6-8 Classified — — — — — 479 4,029 226 4,734 Total $ 187,592 $ 162,933 $ 285,394 $ 189,773 $ 83,818 $ 221,814 $ 2,460,622 $ 69,823 $ 3,661,769 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ 232 $ 232 Gross recoveries — — — — — (451) (23) — (474) Net $ — $ — $ — $ — $ — $ (451) $ (23) $ 232 $ (242) Commercial: Venture Capital Internal risk rating: 1-2 High pass $ — $ 1,999 $ — $ — $ (3) $ 15 $ 170,192 $ — $ 172,203 3-4 Pass 106,056 67,392 56,089 12,490 5,771 4,791 1,155,622 9,326 1,417,537 5 Special mention 10,992 3,111 20,506 — — 3,704 (32) — 38,281 6-8 Classified — — — 2,500 — — (7) 2,347 4,840 Total $ 117,048 $ 72,502 $ 76,595 $ 14,990 $ 5,768 $ 8,510 $ 1,325,775 $ 11,673 $ 1,632,861 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ 620 $ — $ — $ 620 Gross recoveries — — — (13) (93) (27) — — (133) Net $ — $ — $ — $ (13) $ (93) $ 593 $ — $ — $ 487 ____________________ (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 September 30, 2021 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Commercial: Other Commercial Internal risk rating: 1-2 High pass $ 227,874 $ 44,485 $ 285 $ 5 $ 278 $ 51 $ 41,464 $ 694 $ 315,136 3-4 Pass 270,186 73,562 80,334 78,067 49,397 90,990 564,920 8,967 1,216,423 5 Special mention — 1,901 658 1,509 97 10,591 2,261 90 17,107 6-8 Classified 2,042 — 414 (2) 229 4,275 20,808 1,160 28,926 Total $ 500,102 $ 119,948 $ 81,691 $ 79,579 $ 50,001 $ 105,907 $ 629,453 $ 10,911 $ 1,577,592 Current YTD period: Gross charge-offs $ — $ — $ 122 $ 47 $ 63 $ 521 $ 75 $ 2,122 $ 2,950 Gross recoveries — — (27) — (44) (1,423) (57) (111) (1,662) Net $ — $ — $ 95 $ 47 $ 19 $ (902) $ 18 $ 2,011 $ 1,288 Consumer Internal risk rating: 1-2 High pass $ — $ 11 $ — $ 6 $ 6 $ — $ 663 $ — $ 686 3-4 Pass 181,973 31,750 74,081 44,997 23,654 37,991 8,137 10 402,593 5 Special mention 256 377 1,071 210 23 153 — 75 2,165 6-8 Classified — — 159 — 173 171 2 19 524 Total $ 182,229 $ 32,138 $ 75,311 $ 45,213 $ 23,856 $ 38,315 $ 8,802 $ 104 $ 405,968 Current YTD period: Gross charge-offs $ — $ 55 $ 545 $ 259 $ 107 $ 113 $ — $ 1 $ 1,080 Gross recoveries — — — (27) (10) (75) (1) — (113) Net $ — $ 55 $ 545 $ 232 $ 97 $ 38 $ (1) $ 1 $ 967 Total Loans and Leases Internal risk rating: 1-2 High pass $ 360,733 $ 161,905 $ 284,019 $ 152,608 $ 91,326 $ 247,302 $ 818,183 $ 55,584 $ 2,171,660 3-4 Pass 4,156,496 2,056,818 2,672,357 2,257,094 1,248,170 1,472,047 3,790,357 48,051 17,701,390 5 Special mention 13,399 29,588 157,078 144,161 75,754 57,094 15,029 4,263 496,366 6-8 Classified 7,774 10,415 26,310 11,310 12,976 43,927 24,832 4,060 141,604 Total $ 4,538,402 $ 2,258,726 $ 3,139,764 $ 2,565,173 $ 1,428,226 $ 1,820,370 $ 4,648,401 $ 111,958 $ 20,511,020 Current YTD period: Gross charge-offs $ 28 $ 56 $ 857 $ 1,249 $ 223 $ 1,477 $ 75 $ 2,355 $ 6,320 Gross recoveries — — (27) (40) (147) (7,965) (82) (111) (8,372) Net $ 28 $ 56 $ 830 $ 1,209 $ 76 $ (6,488) $ (7) $ 2,244 $ (2,052) ______________________ (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 September 30, 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 $ 12,594 $ — Income producing and other residential 3 297 297 2 157 157 Commercial: Asset-based 1 1,484 1,484 1 15,267 — Venture capital 2 2,382 2,382 1 2,015 2,015 Other commercial 2 85 85 5 7,105 100 Total 8 $ 4,248 $ 4,248 10 $ 37,138 $ 2,272 Nine Months Ended September 30, 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 2 $ 647 $ — 9 $ 16,339 $ 3,745 Income producing and other residential 4 518 518 6 911 911 Real estate construction and land: Residential 1 208 208 — — — Commercial: Asset-based 2 1,987 1,987 8 17,008 1,741 Venture capital 4 4,502 2,529 2 2,047 2,047 Other commercial 37 48,694 30,719 33 30,324 21,544 Consumer 1 20 20 3 212 212 Total 51 $ 56,576 $ 35,981 61 $ 66,841 $ 30,200 During the three and nine months ended September 30, 2021, there was one asset-based loan for $479,000 and two other commercial loans totaling $95,000 restructured in the preceding 12-month period that subsequently defaulted. During the three months ended September 30, 2020, there was one $412,000 real estate mortgage commercial loan restructured in the preceding 12-month period that subsequently defaulted. During the nine months ended September 30, 2020, there was one $412,000 real estate mortgage commercial loan and one $5,000 other commercial loan 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 Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In thousands) Component of leases receivable income: Interest income on net investments in leases $ 2,287 $ 1,869 $ 6,645 $ 6,224 The following table presents the components of leases receivable as of the dates indicated: September 30, 2021 December 31, 2020 (In thousands) Net investment in direct financing leases: Lease payments receivable $ 171,412 $ 158,740 Unguaranteed residual assets 24,862 19,303 Deferred costs and other 1,257 996 Aggregate net investment in leases $ 197,531 $ 179,039 The following table presents maturities of leases receivable as of the date indicated: September 30, 2021 (In thousands) Period ending December 31, 2021 $ 18,527 2022 52,542 2023 39,820 2024 35,214 2025 20,231 Thereafter 24,163 Total undiscounted cash flows 190,497 Less: Unearned income (19,085) Present value of lease payments $ 171,412 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 September 30, 2021 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of period $ 107,013 $ 54,582 $ 57,697 $ 6,308 $ 225,600 Charge-offs (29) — (951) (536) (1,516) Recoveries 563 — 543 43 1,149 Net (charge-offs) recoveries 534 — (408) (493) (367) Provision (11,344) (1,923) (9,792) 1,559 (21,500) Balance, end of period $ 96,203 $ 52,659 $ 47,497 $ 7,374 $ 203,733 Nine Months Ended September 30, 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 (663) (775) (3,802) (1,080) (6,320) Recoveries 5,990 — 2,269 113 8,372 Net (charge-offs) recoveries 5,327 (775) (1,533) (967) 2,052 Provision (47,466) (24,922) (77,373) 3,261 (146,500) Balance, end of period $ 96,203 $ 52,659 $ 47,497 $ 7,374 $ 203,733 Ending Allowance by Evaluation Methodology: Individually evaluated $ 189 $ — $ 2,721 $ — $ 2,910 Collectively evaluated $ 96,014 $ 52,659 $ 44,776 $ 7,374 $ 200,823 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 34,822 $ 19,364 $ 38,647 $ — $ 92,833 Collectively evaluated 9,546,135 3,632,509 6,833,575 405,968 20,418,187 Ending balance $ 9,580,957 $ 3,651,873 $ 6,872,222 $ 405,968 $ 20,511,020 Three Months Ended September 30, 2020 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of period $ 130,724 $ 70,113 $ 97,947 $ 2,266 $ 301,050 Charge-offs (1,551) — (35,666) (67) (37,284) Recoveries 109 21 1,063 7 1,200 Net (charge-offs) recoveries (1,442) 21 (34,603) (60) (36,084) Provision (7,588) 20,039 64,921 3,628 81,000 Balance, end of period $ 121,694 $ 90,173 $ 128,265 $ 5,834 $ 345,966 Nine Months Ended September 30, 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 (6,233) — (66,337) (705) (73,275) Recoveries 360 21 4,410 48 4,839 Net (charge-offs) recoveries (5,873) 21 (61,927) (657) (68,436) Provision 77,684 68,200 121,804 4,312 272,000 Balance, end of period $ 121,694 $ 90,173 $ 128,265 $ 5,834 $ 345,966 Ending Allowance by Evaluation Methodology: Individually evaluated $ 340 $ — $ 2,584 $ — $ 2,924 Collectively evaluated $ 121,354 $ 90,173 $ 125,681 $ 5,834 $ 343,042 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 51,852 $ 1,782 $ 41,501 $ — $ 95,135 Collectively evaluated 7,825,193 3,421,965 7,321,673 362,234 18,931,065 Ending balance $ 7,877,045 $ 3,423,747 $ 7,363,174 $ 362,234 $ 19,026,200 The allowance for loan and lease losses decreased by $21.9 million in the third quarter of 2021 to $203.7 million due primarily to a provision for loan and lease losses benefit of $21.5 million driven by improvement in both key macro-economic variables and loan portfolio credit quality metrics, offset partially by increased provisions for unfunded commitments and loan growth. 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 September 30, 2021, PPP loans had an outstanding balance of approximately $279.4 million. 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: September 30, 2021 December 31, 2020 Real Business Real Business Property Assets Total Property Assets Total (In thousands) Real estate mortgage $ 28,195 $ — $ 28,195 $ 43,656 $ — $ 43,656 Real estate construction and land 19,364 — 19,364 1,766 — 1,766 Commercial — 3,662 3,662 — 31,100 31,100 Total $ 47,559 $ 3,662 $ 51,221 $ 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 September 30, 2021 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of period $ 225,600 $ 74,571 $ 300,171 Charge-offs (1,516) — (1,516) Recoveries 1,149 — 1,149 Net charge-offs (367) — (367) Provision (21,500) 1,500 (20,000) Balance, end of period $ 203,733 $ 76,071 $ 279,804 Nine Months Ended September 30, 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 (6,320) — (6,320) Recoveries 8,372 — 8,372 Net recoveries 2,052 — 2,052 Provision (146,500) (9,500) (156,000) Balance, end of period $ 203,733 $ 76,071 $ 279,804 Three Months Ended September 30, 2020 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of period $ 301,050 $ 80,571 $ 381,621 Charge-offs (37,284) — (37,284) Recoveries 1,200 — 1,200 Net charge-offs (36,084) — (36,084) Provision 81,000 16,000 97,000 Balance, end of period $ 345,966 $ 96,571 $ 442,537 |
Foreclosed Assets
Foreclosed Assets | 9 Months Ended |
Sep. 30, 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: September 30, December 31, Property Type 2021 2020 (In thousands) Commercial real estate $ 12,594 $ 12,979 Construction and land development — 219 Single-family residence 415 — Total other real estate owned, net 13,009 13,198 Other foreclosed assets 355 829 Total foreclosed assets, net $ 13,364 $ 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 1,062 Provision for losses (14) Reductions related to sales (1,711) Balance, September 30, 2021 $ 13,364 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 9 Months Ended |
Sep. 30, 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 125,448 Balance, September 30, 2021 $ 1,204,118 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: September 30, 2021 (In thousands) Period ending December 31, 2021 $ 2,362 2022 7,672 2023 3,788 2024 1,711 Net CDI and CRI $ 15,533 The following table presents the changes in CDI and CRI and the related accumulated amortization for the periods indicated: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In thousands) Gross Amount of CDI and CRI: Balance, beginning of period $ 100,550 $ 109,646 $ 109,646 $ 117,573 Addition from Civic acquisition — — 750 — Fully amortized portion — — (9,846) (7,927) Balance, end of period 100,550 109,646 100,550 109,646 Accumulated Amortization: Balance, beginning of period (82,127) (79,082) (86,005) (79,179) Amortization expense (2,890) (3,751) (8,858) (11,581) Fully amortized portion — — 9,846 7,927 Balance, end of period (85,017) (82,833) (85,017) (82,833) Net CDI and CRI, end of period $ 15,533 $ 26,813 $ 15,533 $ 26,813 |
Other Assets
Other Assets | 9 Months Ended |
Sep. 30, 2021 | |
Other Assets [Abstract] | |
Other Assets | OTHER ASSETS The following table presents the detail of our other assets as of the dates indicated: September 30, December 31, Other Assets 2021 2020 (In thousands) LIHTC investments $ 279,608 $ 213,034 Cash surrender value of BOLI 202,725 203,031 Operating lease ROU assets, net (1) 124,926 119,787 Interest receivable 109,855 101,596 SBIC investments 42,553 32,327 Equity investments without readily determinable fair values 36,787 34,304 Prepaid expenses 28,512 22,999 Equity investments with readily determinable fair values 18,829 6,147 Taxes receivable 16,898 59,565 Equity warrants (2) 3,747 4,520 Other receivables/assets 106,039 63,016 Total other assets $ 970,479 $ 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 | 9 Months Ended |
Sep. 30, 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 Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In thousands) Operating lease expense: Fixed costs $ 8,678 $ 8,950 $ 25,950 $ 26,027 Variable costs 18 15 42 40 Short-term lease costs 357 117 1,042 312 Sublease income (1,114) (1,081) (3,297) (3,100) Net lease expense $ 7,939 $ 8,001 $ 23,737 $ 23,279 The following table presents supplemental cash flow information related to leases for the periods indicated: Nine Months Ended September 30, 2021 2020 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 27,386 $ 25,198 ROU assets obtained in exchange for lease obligations: Operating leases $ 29,840 $ 19,027 The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated: September 30, December 31, 2021 2020 (Dollars in thousands) Operating leases: Operating lease right-of-use assets, net $ 124,926 $ 119,787 Operating lease liabilities $ 144,259 $ 139,501 Weighted average remaining lease term (in years) 5.7 5.8 Weighted average discount rate 2.27 % 2.54 % The following table presents the maturities of operating lease liabilities as of the date indicated: September 30, 2021 (In thousands) Period ending December 31, 2021 $ 8,840 2022 34,415 2023 31,900 2024 24,810 2025 18,100 Thereafter 36,547 Total operating lease liabilities 154,612 Less: Imputed interest (10,353) Present value of operating lease liabilities $ 144,259 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 or nine months ended September 30, 2021 and 2020. The following table presents the rental payments to be received on operating leases as of the date indicated: September 30, 2021 (In thousands) Period ending December 31, 2021 $ 10,678 2022 45,363 2023 36,169 2024 30,483 2025 23,114 Thereafter 47,870 Total undiscounted cash flows $ 193,677 |
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 Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In thousands) Operating lease expense: Fixed costs $ 8,678 $ 8,950 $ 25,950 $ 26,027 Variable costs 18 15 42 40 Short-term lease costs 357 117 1,042 312 Sublease income (1,114) (1,081) (3,297) (3,100) Net lease expense $ 7,939 $ 8,001 $ 23,737 $ 23,279 The following table presents supplemental cash flow information related to leases for the periods indicated: Nine Months Ended September 30, 2021 2020 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 27,386 $ 25,198 ROU assets obtained in exchange for lease obligations: Operating leases $ 29,840 $ 19,027 The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated: September 30, December 31, 2021 2020 (Dollars in thousands) Operating leases: Operating lease right-of-use assets, net $ 124,926 $ 119,787 Operating lease liabilities $ 144,259 $ 139,501 Weighted average remaining lease term (in years) 5.7 5.8 Weighted average discount rate 2.27 % 2.54 % The following table presents the maturities of operating lease liabilities as of the date indicated: September 30, 2021 (In thousands) Period ending December 31, 2021 $ 8,840 2022 34,415 2023 31,900 2024 24,810 2025 18,100 Thereafter 36,547 Total operating lease liabilities 154,612 Less: Imputed interest (10,353) Present value of operating lease liabilities $ 144,259 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 or nine months ended September 30, 2021 and 2020. The following table presents the rental payments to be received on operating leases as of the date indicated: September 30, 2021 (In thousands) Period ending December 31, 2021 $ 10,678 2022 45,363 2023 36,169 2024 30,483 2025 23,114 Thereafter 47,870 Total undiscounted cash flows $ 193,677 |
Borrowings and Subordinated Deb
Borrowings and Subordinated Debentures | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
Borrowings and Subordinated Debentures | BORROWINGS AND SUBORDINATED DEBT Borrowings The following table summarizes our borrowings as of the dates indicated: September 30, 2021 December 31, 2020 Weighted Weighted Average Average Balance Rate Balance Rate (Dollars in thousands) FHLB secured advances $ — — % $ 5,000 — % Total borrowings $ — — % $ 5,000 — % The Bank has established secured and unsecured lines of credit under which it may borrow funds from time to time on a term or overnight basis from the FHLB, the FRBSF, and other financial institutions. FHLB Secured Line of Credit. The Bank had secured financing capacity with the FHLB as of September 30, 2021 of $3.6 billion, collateralized by a blanket lien on $5.9 billion of qualifying loans. The following table presents the interest rates and maturity dates of FHLB secured advances as of the dates indicated: September 30, 2021 December 31, 2020 Maturity Maturity Balance Rate Date Balance Rate Date (Dollars in thousands) FHLB term advance $ — — % $ 5,000 — % 5/6/2021 Total $ — — % $ 5,000 — % FRBSF Secured Line of Credit. The Bank has a secured line of credit with the FRBSF. As of September 30, 2021, the Bank had secured borrowing capacity of $1.4 billion collateralized by liens covering $1.8 billion of qualifying loans. As of September 30, 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 September 30, 2021 and December 31, 2020. Federal Funds Arrangements with Commercial Banks. As of September 30, 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 September 30, 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 September 30, 2021 and December 31, 2020, there were no borrowings outstanding. Subordinated Debt The following table summarizes the terms of each issuance of subordinated debt outstanding as of the dates indicated: September 30, 2021 December 31, 2020 Date Maturity Rate Index Series Balance Rate (1) Balance Rate (1) Issued Date (Quarterly Reset) (Dollars in thousands) Subordinated notes, net (2) $ 394,511 3.25 % $ — — % 4/30/2021 5/1/2031 Fixed rate (3) Trust V 10,310 3.22 % 10,310 3.33 % 8/15/2003 9/17/2033 3-month LIBOR + 3.10 Trust VI 10,310 3.17 % 10,310 3.27 % 9/3/2003 9/15/2033 3-month LIBOR + 3.05 Trust CII 5,155 3.07 % 5,155 3.18 % 9/17/2003 9/17/2033 3-month LIBOR + 2.95 Trust VII 61,856 2.88 % 61,856 2.96 % 2/5/2004 4/23/2034 3-month LIBOR + 2.75 Trust CIII 20,619 1.81 % 20,619 1.91 % 8/15/2005 9/15/2035 3-month LIBOR + 1.69 Trust FCCI 16,495 1.72 % 16,495 1.82 % 1/25/2007 3/15/2037 3-month LIBOR + 1.60 Trust FCBI 10,310 1.67 % 10,310 1.77 % 9/30/2005 12/15/2035 3-month LIBOR + 1.55 Trust CS 2005-1 82,475 2.07 % 82,475 2.17 % 11/21/2005 12/15/2035 3-month LIBOR + 1.95 Trust CS 2005-2 128,866 2.08 % 128,866 2.16 % 12/14/2005 1/30/2036 3-month LIBOR + 1.95 Trust CS 2006-1 51,545 2.08 % 51,545 2.16 % 2/22/2006 4/30/2036 3-month LIBOR + 1.95 Trust CS 2006-2 51,550 2.08 % 51,550 2.16 % 9/27/2006 10/30/2036 3-month LIBOR + 1.95 Trust CS 2006-3 (4) 29,847 1.50 % 31,487 1.54 % 9/29/2006 10/30/2036 3-month EURIBOR + 2.05 Trust CS 2006-4 16,470 2.08 % 16,470 2.16 % 12/5/2006 1/30/2037 3-month LIBOR + 1.95 Trust CS 2006-5 6,650 2.08 % 6,650 2.16 % 12/19/2006 1/30/2037 3-month LIBOR + 1.95 Trust CS 2007-2 39,177 2.08 % 39,177 2.16 % 6/13/2007 7/30/2037 3-month LIBOR + 1.95 Total subordinated debt 936,146 2.62 % 543,275 2.24 % Acquisition discount (5) (73,699) (77,463) Net subordinated debt $ 862,447 $ 465,812 ___________________ (1) Rates do not include the effects of discounts and issuance costs. (2) Net of unamortized issuance costs of $5.5 million. (3) Interest rate is fixed until May 1, 2026, when it changes to a floating rate and resets quarterly at a benchmark rate plus 25,200 basis points. (4) Denomination is in Euros with a value of €25.8 million. (5) Amount represents the fair value adjustment on trust preferred securities assumed in acquisitions. Subordinated Notes Offering On April 30, 2021, the Bank completed the sale of $400 million aggregate principal amount of 3.25% Fixed-to-Floating Rate Subordinated Notes (the "Notes") due May 1, 2031 (the “Maturity Date”). Subject to any redemption prior to the Maturity Date, the Notes will bear interest from and including the original issue date to, but excluding, May 1, 2026 (the “Reset Date”), at a fixed rate of 3.25% per annum and from and including the Reset Date, but excluding the Maturity Date, the Notes will bear interest at a floating per annum rate equal to a benchmark rate (which is expected to be the Three-Month Term SOFR) plus 252 basis points. Interest on the Notes will be payable on May 1 and November 1 of each year through, but not including, the Reset Date, and quarterly thereafter on February 1, May 1, August 1, and November 1 of each year to, but not including, the Maturity Date or earlier redemption date. The first interest payment will be made on November 1, 2021. The Bank may, at its option, beginning with the interest payment date of May 1, 2026, and on any scheduled interest payment date thereafter, redeem the Notes, in whole or in part, from time to time, subject to any required regulatory approval to the extent such approval is then required, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest to, but excluding, the date of redemption, subject to certain conditions. The costs incurred in connection with the Notes offering amortize to interest expense over the term of the Notes. The Notes qualify as Tier 2 capital for regulatory capital purposes. |
Derivatives
Derivatives | 9 Months Ended |
Sep. 30, 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: September 30, 2021 December 31, 2020 Notional Fair Notional Fair Derivatives Not Designated As Hedging Instruments Amount Value Amount Value (In thousands) Derivative Assets: Interest rate contracts $ 87,927 $ 952 $ 59,867 $ 1,028 Foreign exchange contracts 28,463 1,711 73,108 3,202 Interest rate and economic contracts 116,390 2,663 132,975 4,230 Equity warrant assets 19,539 3,747 24,081 4,520 Total $ 135,929 $ 6,410 $ 157,056 $ 8,750 Derivative Liabilities: Interest rate contracts $ 87,927 $ 878 $ 59,867 $ 1,004 Foreign exchange contracts 28,463 — 73,108 146 Total $ 116,390 $ 878 $ 132,975 $ 1,150 For further information regarding our derivatives, see Note 1. Nature of Operations and Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements contained in "Item 8. Financial Statements and Supplementary Data" of the Form 10-K. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 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: September 30, December 31, 2021 2020 (In thousands) Loan commitments to extend credit $ 8,480,599 $ 7,601,390 Standby letters of credit 344,383 337,336 Commitments to contribute capital to SBICs and CRA-related loan pools 78,551 55,499 Total $ 8,903,533 $ 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. The estimated exposure to loss from these commitments is included in the reserve for unfunded loan commitments, which amounted to $76.1 million at September 30, 2021 and $85.6 million at December 31, 2020. 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 September 30, 2021 and December 31, 2020, we had commitments to contribute capital to these entities totaling $78.6 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: September 30, 2021 (In thousands) Period ending December 31, 2021 $ 34,229 2022 35,112 2023 3,652 2024 5,558 Total $ 78,551 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 | 9 Months Ended |
Sep. 30, 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 September 30, 2021, the fair value of these investments was $42.6 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 September 30, 2021 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available-for-sale: Agency residential MBS $ 2,180,993 $ — $ 2,180,993 $ — Municipal securities 1,989,929 — 1,989,929 — Agency commercial MBS 1,314,024 — 1,314,024 — Agency residential CMOs 1,088,537 — 1,088,537 — U.S. Treasury securities 971,268 971,268 — — Corporate debt securities 516,615 — 516,615 — Private label commercial MBS 388,318 — 369,989 18,329 Collateralized loan obligations 358,547 — 358,547 — Private label residential CMOs 303,681 — 299,860 3,821 Asset-backed securities 132,997 — 132,997 — SBA securities 32,017 — 32,017 — Total securities available-for-sale $ 9,276,926 $ 971,268 $ 8,283,508 $ 22,150 Equity investments with readily determinable fair values $ 18,829 $ 18,829 $ — $ — Derivatives (1) : Equity warrants 3,747 — — 3,747 Interest rate and economic contracts 2,663 — 2,663 — Derivative liabilities 878 — 878 — Fair Value Measurements as of December 31, 2020 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available-for-sale: Municipal securities $ 1,531,617 $ — $ 1,531,617 $ — Agency commercial MBS 1,281,877 — 1,281,877 — Agency residential CMOs 1,219,880 — 1,219,880 — Agency residential MBS 341,074 — 341,074 — Corporate debt securities 311,889 — 311,889 — Asset-backed securities 166,546 — 166,546 — Collateralized loan obligations 135,876 — 135,876 — Private label residential CMOs 116,946 — 112,299 4,647 Private label commercial MBS 82,957 — 57,232 25,725 SBA securities 41,627 — 41,627 — U.S. Treasury securities 5,302 5,302 — — Total securities available-for-sale $ 5,235,591 $ 5,302 $ 5,199,917 $ 30,372 Equity investments with readily determinable fair values $ 6,147 $ 6,147 $ — $ — Derivatives (1) : Equity warrants 4,520 — — 4,520 Interest rate and economic contracts 4,230 — 4,230 — Derivative liabilities 1,150 — 1,150 — ____________________ (1) For information regarding derivative instruments, see Note 11. Derivatives . During the nine months ended September 30, 2021, there was a $582,000 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 private label commercial MBS available-for-sale measured at fair value on a recurring basis as of the date indicated: September 30, 2021 Private Label Residential CMOs Private Label Commercial MBS Weighted Input or Weighted Range Average Range Average Unobservable Inputs of Inputs Input (1) of Inputs Input (2) Voluntary annual prepayment speeds 4.0% - 31.3% 12.5% 10.0% - 15.0% 11.9% Annual default rates (3) 0.1% - 12.0% 2.4% 2.0% 2.0% Loss severity rates (3) 16.5% - 82.1% 56.5% 60.0% 60.0% Discount rates 0.0% - 10.5% 6.7% 2.7% - 3.3% 2.9% ____________________ (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 private label commercial MBS 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 private label commercial MBS. 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: September 30, 2021 Equity Warrants Weighted Range Average Unobservable Inputs of Inputs Input (1) Volatility 19.7% - 145.9% 29.4% Risk-free interest rate 0.0% - 1.0% 0.5% Remaining life assumption (in years) 0.08 - 4.99 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, private label commercial MBS available-for-sale, and equity warrants measured at fair value on a recurring basis for the period indicated: Private Label Private Label Equity Residential CMOs Commercial MBS Warrants (In thousands) Balance, December 31, 2020 $ 4,647 $ 25,725 $ 4,520 Total included in earnings 263 (64) 25,351 Total included in other comprehensive income (270) (20) — Issuances — — 267 Sales — — (25,809) Net settlements (819) (7,312) — Transfers to Level 1 (equity investments with readily determinable fair values) — — (582) Balance, September 30, 2021 $ 3,821 $ 18,329 $ 3,747 Unrealized net gains (losses) for the period included in other comprehensive income for securities held at quarter-end $ 823 $ 136 The following tables present assets measured at fair value on a non-recurring basis as of the dates indicated: Fair Value Measurement as of September 30, 2021 Measured on a Non-Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases (1) $ 32,765 $ — $ 654 $ 32,111 Total non-recurring $ 32,765 $ — $ 654 $ 32,111 ______________________ (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 Nine Months Ended Losses on Assets September 30, September 30, Measured on a Non-Recurring Basis 2021 2020 2021 2020 (In thousands) Individually evaluated loans and leases $ 243 $ 29,047 $ 2,499 $ 40,920 OREO — 157 14 267 Total losses $ 243 $ 29,204 $ 2,513 $ 41,187 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: September 30, 2021 Valuation Unobservable Input or Weighted Asset Fair Value Technique Inputs Range Average (In thousands) Individually evaluated loans and leases $ 26,278 Discounted cash flows Discount rates 3.75% - 7.75% 6.21% Individually evaluated loans and leases 5,833 Third party appraisals No discounts Total non-recurring Level 3 $ 32,111 The following tables present carrying amounts and estimated fair values of certain financial instruments as of the dates indicated: September 30, 2021 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 174,585 $ 174,585 $ 174,585 $ — $ — Interest-earning deposits in financial institutions 3,524,613 3,524,613 3,524,613 — — Securities available-for-sale 9,276,926 9,276,926 971,268 8,283,508 22,150 Investment in FHLB stock 17,250 17,250 — 17,250 — Loans and leases held for investment, net 20,307,287 20,904,189 — 654 20,903,535 Equity investments with readily determinable fair values 18,829 18,829 18,829 — — Equity warrants 3,747 3,747 — — 3,747 Interest rate and economic contracts 2,663 2,663 — 2,663 — Servicing rights 1,636 1,636 — — 1,636 Financial Liabilities: Core deposits 28,140,708 28,140,708 — 28,140,708 — Non-core non-maturity deposits 960,438 960,438 — 960,438 — Time deposits 1,458,599 1,459,457 — 1,459,457 — Borrowings — — — — — Subordinated debt 862,447 923,374 — 923,374 — Derivative liabilities 878 878 — 878 — December 31, 2020 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 150,464 $ 150,464 $ 150,464 $ — $ — Interest-earning deposits in financial institutions 3,010,197 3,010,197 3,010,197 — — Securities available-for-sale 5,235,591 5,235,591 5,302 5,199,917 30,372 Investment in FHLB stock 17,250 17,250 — 17,250 — Loans and leases held for investment, net 18,735,196 19,305,998 — 4,160 19,301,838 Equity investments with readily determinable fair values 6,147 6,147 6,147 — — Equity warrants 4,520 4,520 — — 4,520 Interest rate and economic contracts 4,230 4,230 — 4,230 — Financial Liabilities: Core deposits 22,264,480 22,264,480 — 22,264,480 — Non-core non-maturity deposits 1,149,467 1,149,467 — 1,149,467 — Time deposits 1,526,770 1,527,639 — 1,527,639 — Borrowings 5,000 4,995 — 4,995 — Subordinated debt 465,812 448,036 — 448,036 — Derivative liabilities 1,150 1,150 — 1,150 — 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 September 30, 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 | 9 Months Ended |
Sep. 30, 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 Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (Dollars in thousands, except per share data) Basic Earnings (Loss) Per Share: Net earnings (loss) $ 139,996 $ 45,503 $ 470,914 $ (1,354,404) Less: Earnings allocated to unvested restricted stock (1) (2,417) (578) (7,930) (1,603) Net earnings (loss) allocated to common shares $ 137,579 $ 44,925 $ 462,984 $ (1,356,007) Weighted-average basic shares and unvested restricted stock outstanding 119,569 118,438 119,272 118,469 Less: Weighted-average unvested restricted stock outstanding (2,340) (1,684) (2,235) (1,596) Weighted-average basic shares outstanding 117,229 116,754 117,037 116,873 Basic earnings (loss) per share $ 1.17 $ 0.38 $ 3.96 $ (11.60) Diluted Earnings (Loss) Per Share: Net earnings (loss) allocated to common shares $ 137,579 $ 44,925 $ 462,984 $ (1,356,007) Weighted-average diluted shares outstanding 117,229 116,754 117,037 116,873 Diluted earnings (loss) per share $ 1.17 $ 0.38 $ 3.96 $ (11.60) ________________________ (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 | 9 Months Ended |
Sep. 30, 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 September 30, 2021 2020 Total Revenue from Total Revenue from Recorded Contracts with Recorded Contracts with Revenue Customers Revenue Customers (In thousands) Total interest income $ 290,082 $ — $ 265,908 $ — Noninterest income: Service charges on deposit accounts 3,407 3,407 2,570 2,570 Other commissions and fees 11,792 2,680 10,541 3,228 Leased equipment income 10,943 — 9,900 — Gain on sale of loans — — 35 — Gain on sale of securities 515 — 5,270 — Other income 24,688 (14) 9,936 289 Total noninterest income 51,345 6,073 38,252 6,087 Total revenue $ 341,427 $ 6,073 $ 304,160 $ 6,087 The following table presents revenue from contracts with customers based on the timing of revenue recognition for the periods indicated: Three Months Ended September 30, 2021 2020 (In thousands) Products and services transferred at a point in time $ 2,754 $ 3,189 Products and services transferred over time 3,319 2,898 Total revenue from contracts with customers $ 6,073 $ 6,087 Nine Months Ended September 30, 2021 2020 Total Revenue from Total Revenue from Recorded Contracts with Recorded Contracts with Revenue Customers Revenue Customers (In thousands) Total interest income $ 843,924 $ — $ 831,315 $ — Noninterest income: Service charges on deposit accounts 9,793 9,793 7,232 7,232 Other commissions and fees 31,654 8,140 30,373 10,388 Leased equipment income 33,144 — 34,188 — Gain on sale of loans 1,561 — 468 — Gain on sale of securities 616 — 13,167 — Other income 59,777 560 20,782 961 Total noninterest income 136,545 18,493 106,210 18,581 Total revenue $ 980,469 $ 18,493 $ 937,525 $ 18,581 The following table presents revenue from contracts with customers based on the timing of revenue recognition for the periods indicated: Nine Months Ended September 30, 2021 2020 (In thousands) Products and services transferred at a point in time $ 8,819 $ 10,152 Products and services transferred over time 9,674 8,429 Total revenue from contracts with customers $ 18,493 $ 18,581 Contract Balances The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers as of the dates indicated: September 30, 2021 December 31, 2020 (In thousands) Receivables, which are included in "Other assets" $ 1,219 $ 1,046 Contract assets, which are included in "Other assets" $ — $ — Contract liabilities, which are included in "Accrued interest payable and other liabilities" $ 261 $ 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 nine months ended September 30, 2021 due to revenue recognized that was included in the contract liability balance at the beginning of the period was $98,000 |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Stock-Based Compensation | STOCK-BASED COMPENSATION At the annual meeting of stockholders held on May 11, 2021, the Company's stockholders approved the Amended and Restated PacWest Bancorp 2017 Stock Incentive Plan (the “Amended and Restated 2017 Plan”). The Company’s Amended and Restated 2017 Plan permits stock-based compensation awards to officers, directors, employees, and consultants and will remain in effect until December 31, 2026. The Amended and Restated 2017 Plan authorizes grants of stock-based compensation instruments to purchase or issue up to 6,650,000 shares, representing 4,000,000 shares originally approved for grant under the Original 2017 Stock Incentive Plan plus 2,650,000 shares added as result of the approval of the Amended and Restated 2017 Plan. As of September 30, 2021, there were 3,027,093 sh ares available for grant under the Amended and Restated 2017 Plan. Restricted Stock Restricted stock amortization totaled $8.4 million and $7.1 million for the three months ended September 30, 2021 and 2020 and $23.0 million and $19.2 million for the nine months ended September 30, 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 September 30, 2021 totaled $76.5 million . Time-Based Restricted Stock Awards At September 30, 2021, there wer e 2,321,753 shar es of unvested TRSAs outstanding. TRSAs generally vest ratably over a service period of three Performance-Based Restricted Stock Units At September 30, 2021, there were 512,863 units of unvested PRSUs that have been granted. The PRSUs will vest only if performance goals with respect to certain financial metrics are met over a three-year performance period. The 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 | 9 Months Ended |
Sep. 30, 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 has established a cross-functional project team and implementation plan to facilitate the LIBOR transition. As of September 30, 2021, the Company has completed its readiness efforts to identify loans and other financial instruments that are impacted by the discontinuance of LIBOR. We have also completed our review for fallback language contained in contracts for LIBOR-based loans and other financial instruments and have begun to execute a transition plan to amend those legacy contracts that do not have or have inadequate fallback language. With the impending phase-out of LIBOR, the Company has considered several viable alternative reference rates. Based on our current assessment, we plan to offer SOFR as the primary alternative reference rate, but may consider alternate rates such as the American Interbank Offered Rate (“Ameribor”) and others based on customer demands and/or the type of loan or financial instrument. The Company will also continue to assess impacts to our operations, financial models, data and technology as part of our transition plan. The Company is currently evaluating the impact of this Update on its consolidated financial statements but does not expect it to have a material impact. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | SUBSEQUENT EVENTS Acquisition of Homeowners Association Services Division On October 8, 2021, the Bank completed its previously announced acquisition of the Homeowners Association (“HOA”) Services Division of MUFG Union Bank, N.A. (“Union Bank”) pursuant to the terms of the Purchase and Assumption Agreement (the “Purchase Agreement”), dated March 31, 2021, between the Bank and Union Bank. Under the terms of the Purchase Agreement, the Bank acquired certain assets and assumed certain liabilities related to Union Bank’s HOA Services Division for cash consideration of approximately $255 million, which represents the aggregate of a 5.9% deposit premium and the net book value of certain acquired assets and assumed liabilities. At closing, there were approximately $4.1 billion of deposits related to Union Bank’s HOA Services Division and approximately $6.4 million in related loans. Due to the timing of the acquisition, the Company is currently in the process of completing the purchase accounting and has not made all of the remaining disclosures required by ASC 805-10-50, " Business Combinations - Overall - Disclosure ," such as the fair value of assets acquired, which will be disclosed in subsequent filings. The existing management team and employees transitioned with the HOA Services Division to the Bank in connection with the close of the acquisition. The HOA Services Division provides a full range of banking services to community HOA management companies and their homeowners associations. This acquisition significantly expands 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 further diversifies the Bank’s existing core deposits and provides an attractive funding source in a rising interest rate environment. Common Stock Dividends On November 1, 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 November 30, 2021 to stockholders of record at the close of business on November 15, 2021. The Company has evaluated events that have occurred subsequent to September 30, 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) | 9 Months Ended |
Sep. 30, 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 has established a cross-functional project team and implementation plan to facilitate the LIBOR transition. As of September 30, 2021, the Company has completed its readiness efforts to identify loans and other financial instruments that are impacted by the discontinuance of LIBOR. We have also completed our review for fallback language contained in contracts for LIBOR-based loans and other financial instruments and have begun to execute a transition plan to amend those legacy contracts that do not have or have inadequate fallback language. With the impending phase-out of LIBOR, the Company has considered several viable alternative reference rates. Based on our current assessment, we plan to offer SOFR as the primary alternative reference rate, but may consider alternate rates such as the American Interbank Offered Rate (“Ameribor”) and others based on customer demands and/or the type of loan or financial instrument. The Company will also continue to assess impacts to our operations, financial models, data and technology as part of our transition plan. The Company is currently evaluating the impact of this Update on its consolidated financial statements but does not expect it to have a material impact. |
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 Certain prior period amounts have been reclassified to conform to the current period’s presentation format. In our loan and allowance tables, we realigned our venture capital subclasses to better reflect and report our lending. Prior to the realignment, our venture capital subclasses were: (1) equity fund loans, (2) early stage, (3) expansion stage, and (4) late stage. After the realignment, our venture capital subclasses are: (1) equity fund loans and (2) venture lending (which includes early stage, expansion stage, and late stage). Additionally, we realigned our other commercial subclasses by moving our cash flow subclass into the other lending subclass. All of the loan and allowance tables, both current period and prior periods, reflect these realignments. In our securities available-for-sale tables, we are presenting a new line for private label commercial MBS, which had previously been included with the asset-backed securities line. All of the securities available-for-sale tables, both current period and prior periods, reflect this new presentation. |
Fair Value Disclosures (Policie
Fair Value Disclosures (Policies) | 9 Months Ended |
Sep. 30, 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 September 30, 2021, the fair value of these investments was $42.6 million. |
Acquisition (Tables)
Acquisition (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions, by Acquisition | The following assets acquired and liabilities assumed, both tangible and intangible, of the acquired entity are presented at estimated fair value as of the acquisition date: Acquisition and Date Acquired Civic Financial Services February 1, 2021 (In thousands) Assets Acquired: Cash and due from banks $ 37,331 Loans and leases 67,294 Premises and equipment 1,197 Goodwill 125,448 Customer relationship intangible 750 Other assets 75,977 Total assets acquired $ 307,997 Liabilities Assumed: Noninterest-bearing demand deposits $ 37,339 Borrowings 50,210 Accrued interest payable and other liabilities 60,028 Total liabilities assumed $ 147,577 Total consideration - paid in cash $ 160,420 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 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: September 30, 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) Agency residential MBS $ 2,185,544 $ 11,236 $ (15,787) $ 2,180,993 $ 329,488 $ 12,483 $ (897) $ 341,074 Municipal securities 1,929,753 67,167 (6,991) 1,989,929 1,438,004 93,631 (18) 1,531,617 Agency commercial MBS 1,269,984 49,063 (5,023) 1,314,024 1,207,676 74,238 (37) 1,281,877 Agency residential CMOs 1,062,836 29,440 (3,739) 1,088,537 1,172,166 47,994 (280) 1,219,880 U.S. Treasury securities 973,307 2,060 (4,099) 971,268 4,989 313 — 5,302 Corporate debt securities 505,800 11,976 (1,161) 516,615 308,803 3,490 (404) 311,889 Private label commercial MBS 389,030 716 (1,428) 388,318 81,878 1,089 (10) 82,957 Collateralized loan obligations 359,057 163 (673) 358,547 136,777 23 (924) 135,876 Private label residential CMOs 301,743 3,508 (1,570) 303,681 110,891 6,076 (21) 116,946 Asset-backed securities 132,421 855 (279) 132,997 166,861 445 (760) 166,546 SBA securities 30,849 1,185 (17) 32,017 39,437 2,217 (27) 41,627 Total $ 9,140,324 $ 177,369 $ (40,767) $ 9,276,926 $ 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 Nine Months Ended September 30, September 30, Sales of Securities Available-for-Sale 2021 2020 2021 2020 (In thousands) Amortized cost of securities sold $ 76,184 $ 17,000 $ 120,735 $ 154,100 Gross realized gains $ 517 $ 5,270 $ 618 $ 13,199 Gross realized losses (2) — (2) (32) Net realized gains $ 515 $ 5,270 $ 616 $ 13,167 |
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: September 30, 2021 Less Than 12 Months 12 Months or More Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Security Type Value Losses Value Losses Value Losses (In thousands) Agency residential MBS $ 1,697,399 $ (15,779) $ 680 $ (8) $ 1,698,079 $ (15,787) Municipal securities 583,499 (6,860) 2,559 (131) 586,058 (6,991) Agency commercial MBS 282,753 (5,023) — — 282,753 (5,023) Agency residential CMOs 189,684 (3,700) 11,283 (39) 200,967 (3,739) U.S. Treasury securities 632,950 (4,099) — — 632,950 (4,099) Corporate debt securities 127,786 (1,161) — — 127,786 (1,161) Private label commercial MBS 266,238 (1,428) — — 266,238 (1,428) Collateralized loan obligations 202,528 (600) 43,930 (73) 246,458 (673) Private label residential CMOs 234,541 (1,555) 319 (15) 234,860 (1,570) Asset-backed securities 25,044 (49) 16,126 (230) 41,170 (279) SBA securities — — 1,897 (17) 1,897 (17) Total $ 4,242,422 $ (40,254) $ 76,794 $ (513) $ 4,319,216 $ (40,767) December 31, 2020 Less Than 12 Months 12 Months or More Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Security Type Value Losses Value Losses Value Losses (In thousands) Agency residential MBS $ 90,722 $ (897) $ — $ — $ 90,722 $ (897) Municipal securities 5,919 (18) — — 5,919 (18) Agency commercial MBS 58,408 (37) — — 58,408 (37) Agency residential CMOs 97,863 (280) — — 97,863 (280) Corporate debt securities 87,596 (404) — — 87,596 (404) Private label commercial MBS 3,058 (10) — — 3,058 (10) Collateralized loan obligations 96,442 (729) 28,972 (195) 125,414 (924) Private label residential CMOs 788 (19) 74 (2) 862 (21) Asset-backed securities 14,636 (53) 61,031 (707) 75,667 (760) SBA securities 2,127 (27) — — 2,127 (27) Total $ 457,559 $ (2,474) $ 90,077 $ (904) $ 547,636 $ (3,378) |
Investments classified by contractual maturity date | The following table presents the contractual maturities of our securities available-for-sale portfolio based on amortized cost and carrying value as of the date indicated: September 30, 2021 Amortized Fair Maturities Cost Value (In thousands) Due in one year or less $ 40,903 $ 41,218 Due after one year through five years 578,943 606,629 Due after five years through ten years 2,991,339 3,029,128 Due after ten years 5,529,139 5,599,951 Total securities available-for-sale $ 9,140,324 $ 9,276,926 |
Investment income | The following table presents the composition of our interest income on investment securities for the periods indicated: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In thousands) Taxable interest $ 31,980 $ 17,835 $ 79,156 $ 59,457 Non-taxable interest 8,542 6,272 25,113 17,113 Dividend income 258 336 730 1,357 Total interest income on investment securities $ 40,780 $ 24,443 $ 104,999 $ 77,927 |
Loans and Leases (Tables)
Loans and Leases (Tables) | 9 Months Ended |
Sep. 30, 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: September 30, December 31, 2021 2020 (In thousands) Real estate mortgage $ 9,590,037 $ 7,905,193 Real estate construction and land 3,699,435 3,393,145 Commercial 6,892,846 7,534,801 Consumer 405,937 320,218 Total gross loans and leases held for investment 20,588,255 19,153,357 Deferred fees, net (77,235) (69,980) Total loans and leases held for investment, net of deferred fees 20,511,020 19,083,377 Allowance for loan and lease losses (203,733) (348,181) Total loans and leases held for investment, net (1) $ 20,307,287 $ 18,735,196 ____________________ (1) Excludes accrued interest receivable of $75.7 million and $79.7 million at September 30, 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: September 30, 2021 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 899 $ 2,954 $ 3,853 $ 3,690,744 $ 3,694,597 Income producing and other residential 3,760 5,661 9,421 5,876,939 5,886,360 Total real estate mortgage 4,659 8,615 13,274 9,567,683 9,580,957 Real estate construction and land: Commercial — — — 992,003 992,003 Residential 13,017 19,587 32,604 2,627,266 2,659,870 Total real estate construction and land 13,017 19,587 32,604 3,619,269 3,651,873 Commercial: Asset-based — 479 479 3,661,290 3,661,769 Venture capital 1,670 — 1,670 1,631,191 1,632,861 Other commercial 561 1,654 2,215 1,575,377 1,577,592 Total commercial 2,231 2,133 4,364 6,867,858 6,872,222 Consumer 1,042 357 1,399 404,569 405,968 Total $ 20,949 $ 30,692 $ 51,641 $ 20,459,379 $ 20,511,020 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: September 30, 2021 December 31, 2020 Nonaccrual Performing Total Nonaccrual Performing Total (In thousands) Real estate mortgage: Commercial $ 25,615 $ 3,668,982 $ 3,694,597 $ 43,731 $ 4,052,940 $ 4,096,671 Income producing and other residential 7,547 5,878,813 5,886,360 1,826 3,801,439 3,803,265 Total real estate mortgage 33,162 9,547,795 9,580,957 45,557 7,854,379 7,899,936 Real estate construction and land: Commercial — 992,003 992,003 315 1,116,806 1,117,121 Residential 19,918 2,639,952 2,659,870 — 2,243,160 2,243,160 Total real estate construction and land 19,918 3,631,955 3,651,873 315 3,359,966 3,360,281 Commercial: Asset-based 1,605 3,660,164 3,661,769 2,679 3,426,604 3,429,283 Venture capital 2,348 1,630,513 1,632,861 1,980 1,696,528 1,698,508 Other commercial 6,979 1,570,613 1,577,592 40,243 2,334,871 2,375,114 Total commercial 10,932 6,861,290 6,872,222 44,902 7,458,003 7,502,905 Consumer 495 405,473 405,968 389 319,866 320,255 Total $ 64,507 $ 20,446,513 $ 20,511,020 $ 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. September 30, 2021 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 69,059 $ 202,029 $ 3,423,509 $ 3,694,597 Income producing and other residential 13,603 73,831 5,798,926 5,886,360 Total real estate mortgage 82,662 275,860 9,222,435 9,580,957 Real estate construction and land: Commercial — 67,649 924,354 992,003 Residential 19,918 7,324 2,632,628 2,659,870 Total real estate construction and land 19,918 74,973 3,556,982 3,651,873 Commercial: Asset-based 4,734 87,980 3,569,055 3,661,769 Venture capital 4,840 38,281 1,589,740 1,632,861 Other commercial 28,926 17,107 1,531,559 1,577,592 Total commercial 38,500 143,368 6,690,354 6,872,222 Consumer 524 2,165 403,279 405,968 Total $ 141,604 $ 496,366 $ 19,873,050 $ 20,511,020 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 Nine Months Three Months Nine Months Ended Ended Ended Ended September 30, September 30, September 30, September 30, September 30, September 30, 2021 2021 2021 2020 2020 2020 Nonaccrual Interest Interest Nonaccrual Interest Interest Recorded Income Income Recorded Income Income Investment Recognized Recognized Investment Recognized Recognized (In thousands) With An Allowance Recorded: Real estate mortgage: Commercial $ 72 $ — $ — $ 736 $ — $ — Income producing and other residential 3,323 — — 1,163 — — Real estate construction and land: Residential 1,987 — — — — — Commercial: Asset based 1,126 — — 2,248 — — Venture capital 2,347 — — 2,001 — — Other commercial 1,170 — — 1,235 — — Consumer 495 — — 404 — — With No Related Allowance Recorded: Real estate mortgage: Commercial $ 25,543 $ 90 $ 511 $ 44,384 $ 155 $ 285 Income producing and other residential 4,224 — — 845 — — Real estate construction and land: Commercial — — — 324 — — Residential 17,931 — — — — — Commercial: Asset based 479 — — 569 — — Other commercial 5,810 3 5 31,706 517 1,628 Total Loans and Leases With and Without an Allowance Recorded: Real estate mortgage $ 33,162 $ 90 $ 511 $ 47,128 $ 155 $ 285 Real estate construction and land 19,918 — — 324 — — Commercial 10,932 3 5 37,759 517 1,628 Consumer 495 — — 404 — — Total $ 64,507 $ 93 $ 516 $ 85,615 $ 672 $ 1,913 |
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 September 30, 2021 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Real Estate Mortgage: Commercial Internal risk rating: 1-2 High pass $ 565 $ 5,835 $ 48,421 $ 5,816 $ 10,448 $ 37,536 $ 2 $ — $ 108,623 3-4 Pass 316,700 539,855 344,575 536,615 505,934 1,014,656 44,726 11,825 3,314,886 5 Special mention — 4,839 67,336 79,223 7,985 42,646 — — 202,029 6-8 Classified — 494 17,116 5,767 12,473 33,209 — — 69,059 Total $ 317,265 $ 551,023 $ 477,448 $ 627,421 $ 536,840 $ 1,128,047 $ 44,728 $ 11,825 $ 3,694,597 Current YTD period: Gross charge-offs $ — $ — $ 190 $ 168 $ 53 $ 168 $ — $ — $ 579 Gross recoveries — — — — — (5,934) — — (5,934) Net $ — $ — $ 190 $ 168 $ 53 $ (5,766) $ — $ — $ (5,355) Real Estate Mortgage: Income Producing and Other Residential Internal risk rating: 1-2 High pass $ 28,374 $ 32,923 $ 62,522 $ 26,751 $ 13,363 $ 26,586 $ 28,044 $ — $ 218,563 3-4 Pass 2,327,323 625,371 713,871 944,356 594,336 265,707 109,206 193 5,580,363 5 Special mention 384 13,803 17,214 42,270 — — 160 — 73,831 6-8 Classified 334 4,022 — 3,045 101 5,793 — 308 13,603 Total $ 2,356,415 $ 676,119 $ 793,607 $ 1,016,422 $ 607,800 $ 298,086 $ 137,410 $ 501 $ 5,886,360 Current YTD period: Gross charge-offs $ 28 $ 1 $ — $ — $ — $ 55 $ — $ — $ 84 Gross recoveries — — — — — (55) (1) — (56) Net $ 28 $ 1 $ — $ — $ — $ — $ (1) $ — $ 28 Real Estate Construction and Land: Commercial Internal risk rating: 1-2 High pass $ — $ — $ 43 $ — $ — $ — $ — $ — $ 43 3-4 Pass 29,494 100,207 367,405 396,084 725 14,220 16,176 — 924,311 5 Special mention — — — — 67,649 — — — 67,649 6-8 Classified — — — — — — — — — Total $ 29,494 $ 100,207 $ 367,448 $ 396,084 $ 68,374 $ 14,220 $ 16,176 $ — $ 992,003 Current YTD period: Gross charge-offs $ — $ — $ — $ 775 $ — $ — $ — $ — $ 775 Gross recoveries — — — — — — — — — Net $ — $ — $ — $ 775 $ — $ — $ — $ — $ 775 Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term September 30, 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 841,092 532,400 973,649 195,691 51,769 5,471 25,435 7,121 2,632,628 5 Special mention 1,767 5,557 — — — — — — 7,324 6-8 Classified 5,398 5,899 8,621 — — — — — 19,918 Total $ 848,257 $ 543,856 $ 982,270 $ 195,691 $ 51,769 $ 5,471 $ 25,435 $ 7,121 $ 2,659,870 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Gross recoveries — — — — — — — — — Net $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial: Asset-Based Internal risk rating: 1-2 High pass $ 103,920 $ 76,652 $ 172,748 $ 120,030 $ 67,234 $ 183,114 $ 577,818 $ 54,890 $ 1,356,406 3-4 Pass 83,672 86,281 62,353 48,794 16,584 38,221 1,866,135 10,609 2,212,649 5 Special mention — — 50,293 20,949 — — 12,640 4,098 87,980 6-8 Classified — — — — — 479 4,029 226 4,734 Total $ 187,592 $ 162,933 $ 285,394 $ 189,773 $ 83,818 $ 221,814 $ 2,460,622 $ 69,823 $ 3,661,769 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ 232 $ 232 Gross recoveries — — — — — (451) (23) — (474) Net $ — $ — $ — $ — $ — $ (451) $ (23) $ 232 $ (242) Commercial: Venture Capital Internal risk rating: 1-2 High pass $ — $ 1,999 $ — $ — $ (3) $ 15 $ 170,192 $ — $ 172,203 3-4 Pass 106,056 67,392 56,089 12,490 5,771 4,791 1,155,622 9,326 1,417,537 5 Special mention 10,992 3,111 20,506 — — 3,704 (32) — 38,281 6-8 Classified — — — 2,500 — — (7) 2,347 4,840 Total $ 117,048 $ 72,502 $ 76,595 $ 14,990 $ 5,768 $ 8,510 $ 1,325,775 $ 11,673 $ 1,632,861 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ 620 $ — $ — $ 620 Gross recoveries — — — (13) (93) (27) — — (133) Net $ — $ — $ — $ (13) $ (93) $ 593 $ — $ — $ 487 ____________________ (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 September 30, 2021 2021 2020 2019 2018 2017 Prior Loans Loans Total (In thousands) Commercial: Other Commercial Internal risk rating: 1-2 High pass $ 227,874 $ 44,485 $ 285 $ 5 $ 278 $ 51 $ 41,464 $ 694 $ 315,136 3-4 Pass 270,186 73,562 80,334 78,067 49,397 90,990 564,920 8,967 1,216,423 5 Special mention — 1,901 658 1,509 97 10,591 2,261 90 17,107 6-8 Classified 2,042 — 414 (2) 229 4,275 20,808 1,160 28,926 Total $ 500,102 $ 119,948 $ 81,691 $ 79,579 $ 50,001 $ 105,907 $ 629,453 $ 10,911 $ 1,577,592 Current YTD period: Gross charge-offs $ — $ — $ 122 $ 47 $ 63 $ 521 $ 75 $ 2,122 $ 2,950 Gross recoveries — — (27) — (44) (1,423) (57) (111) (1,662) Net $ — $ — $ 95 $ 47 $ 19 $ (902) $ 18 $ 2,011 $ 1,288 Consumer Internal risk rating: 1-2 High pass $ — $ 11 $ — $ 6 $ 6 $ — $ 663 $ — $ 686 3-4 Pass 181,973 31,750 74,081 44,997 23,654 37,991 8,137 10 402,593 5 Special mention 256 377 1,071 210 23 153 — 75 2,165 6-8 Classified — — 159 — 173 171 2 19 524 Total $ 182,229 $ 32,138 $ 75,311 $ 45,213 $ 23,856 $ 38,315 $ 8,802 $ 104 $ 405,968 Current YTD period: Gross charge-offs $ — $ 55 $ 545 $ 259 $ 107 $ 113 $ — $ 1 $ 1,080 Gross recoveries — — — (27) (10) (75) (1) — (113) Net $ — $ 55 $ 545 $ 232 $ 97 $ 38 $ (1) $ 1 $ 967 Total Loans and Leases Internal risk rating: 1-2 High pass $ 360,733 $ 161,905 $ 284,019 $ 152,608 $ 91,326 $ 247,302 $ 818,183 $ 55,584 $ 2,171,660 3-4 Pass 4,156,496 2,056,818 2,672,357 2,257,094 1,248,170 1,472,047 3,790,357 48,051 17,701,390 5 Special mention 13,399 29,588 157,078 144,161 75,754 57,094 15,029 4,263 496,366 6-8 Classified 7,774 10,415 26,310 11,310 12,976 43,927 24,832 4,060 141,604 Total $ 4,538,402 $ 2,258,726 $ 3,139,764 $ 2,565,173 $ 1,428,226 $ 1,820,370 $ 4,648,401 $ 111,958 $ 20,511,020 Current YTD period: Gross charge-offs $ 28 $ 56 $ 857 $ 1,249 $ 223 $ 1,477 $ 75 $ 2,355 $ 6,320 Gross recoveries — — (27) (40) (147) (7,965) (82) (111) (8,372) Net $ 28 $ 56 $ 830 $ 1,209 $ 76 $ (6,488) $ (7) $ 2,244 $ (2,052) ______________________ (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 September 30, 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 $ 12,594 $ — Income producing and other residential 3 297 297 2 157 157 Commercial: Asset-based 1 1,484 1,484 1 15,267 — Venture capital 2 2,382 2,382 1 2,015 2,015 Other commercial 2 85 85 5 7,105 100 Total 8 $ 4,248 $ 4,248 10 $ 37,138 $ 2,272 Nine Months Ended September 30, 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 2 $ 647 $ — 9 $ 16,339 $ 3,745 Income producing and other residential 4 518 518 6 911 911 Real estate construction and land: Residential 1 208 208 — — — Commercial: Asset-based 2 1,987 1,987 8 17,008 1,741 Venture capital 4 4,502 2,529 2 2,047 2,047 Other commercial 37 48,694 30,719 33 30,324 21,544 Consumer 1 20 20 3 212 212 Total 51 $ 56,576 $ 35,981 61 $ 66,841 $ 30,200 |
Lease Income of Direct Financing Leases | The following table provides the components of leases receivable income for the periods indicated: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In thousands) Component of leases receivable income: Interest income on net investments in leases $ 2,287 $ 1,869 $ 6,645 $ 6,224 |
Assets and Liabilities, Lessor | The following table presents the components of leases receivable as of the dates indicated: September 30, 2021 December 31, 2020 (In thousands) Net investment in direct financing leases: Lease payments receivable $ 171,412 $ 158,740 Unguaranteed residual assets 24,862 19,303 Deferred costs and other 1,257 996 Aggregate net investment in leases $ 197,531 $ 179,039 |
Sales-type and Direct Financing Leases, Lease Receivable, Maturity | The following table presents maturities of leases receivable as of the date indicated: September 30, 2021 (In thousands) Period ending December 31, 2021 $ 18,527 2022 52,542 2023 39,820 2024 35,214 2025 20,231 Thereafter 24,163 Total undiscounted cash flows 190,497 Less: Unearned income (19,085) Present value of lease payments $ 171,412 |
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 September 30, 2021 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of period $ 107,013 $ 54,582 $ 57,697 $ 6,308 $ 225,600 Charge-offs (29) — (951) (536) (1,516) Recoveries 563 — 543 43 1,149 Net (charge-offs) recoveries 534 — (408) (493) (367) Provision (11,344) (1,923) (9,792) 1,559 (21,500) Balance, end of period $ 96,203 $ 52,659 $ 47,497 $ 7,374 $ 203,733 Nine Months Ended September 30, 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 (663) (775) (3,802) (1,080) (6,320) Recoveries 5,990 — 2,269 113 8,372 Net (charge-offs) recoveries 5,327 (775) (1,533) (967) 2,052 Provision (47,466) (24,922) (77,373) 3,261 (146,500) Balance, end of period $ 96,203 $ 52,659 $ 47,497 $ 7,374 $ 203,733 Ending Allowance by Evaluation Methodology: Individually evaluated $ 189 $ — $ 2,721 $ — $ 2,910 Collectively evaluated $ 96,014 $ 52,659 $ 44,776 $ 7,374 $ 200,823 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 34,822 $ 19,364 $ 38,647 $ — $ 92,833 Collectively evaluated 9,546,135 3,632,509 6,833,575 405,968 20,418,187 Ending balance $ 9,580,957 $ 3,651,873 $ 6,872,222 $ 405,968 $ 20,511,020 Three Months Ended September 30, 2020 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of period $ 130,724 $ 70,113 $ 97,947 $ 2,266 $ 301,050 Charge-offs (1,551) — (35,666) (67) (37,284) Recoveries 109 21 1,063 7 1,200 Net (charge-offs) recoveries (1,442) 21 (34,603) (60) (36,084) Provision (7,588) 20,039 64,921 3,628 81,000 Balance, end of period $ 121,694 $ 90,173 $ 128,265 $ 5,834 $ 345,966 Nine Months Ended September 30, 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 (6,233) — (66,337) (705) (73,275) Recoveries 360 21 4,410 48 4,839 Net (charge-offs) recoveries (5,873) 21 (61,927) (657) (68,436) Provision 77,684 68,200 121,804 4,312 272,000 Balance, end of period $ 121,694 $ 90,173 $ 128,265 $ 5,834 $ 345,966 Ending Allowance by Evaluation Methodology: Individually evaluated $ 340 $ — $ 2,584 $ — $ 2,924 Collectively evaluated $ 121,354 $ 90,173 $ 125,681 $ 5,834 $ 343,042 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 51,852 $ 1,782 $ 41,501 $ — $ 95,135 Collectively evaluated 7,825,193 3,421,965 7,321,673 362,234 18,931,065 Ending balance $ 7,877,045 $ 3,423,747 $ 7,363,174 $ 362,234 $ 19,026,200 |
Collateral-dependent Finance Receivable | The following table summarizes collateral-dependent loans held for investment by collateral type as of the following dates: September 30, 2021 December 31, 2020 Real Business Real Business Property Assets Total Property Assets Total (In thousands) Real estate mortgage $ 28,195 $ — $ 28,195 $ 43,656 $ — $ 43,656 Real estate construction and land 19,364 — 19,364 1,766 — 1,766 Commercial — 3,662 3,662 — 31,100 31,100 Total $ 47,559 $ 3,662 $ 51,221 $ 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 September 30, 2021 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of period $ 225,600 $ 74,571 $ 300,171 Charge-offs (1,516) — (1,516) Recoveries 1,149 — 1,149 Net charge-offs (367) — (367) Provision (21,500) 1,500 (20,000) Balance, end of period $ 203,733 $ 76,071 $ 279,804 Nine Months Ended September 30, 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 (6,320) — (6,320) Recoveries 8,372 — 8,372 Net recoveries 2,052 — 2,052 Provision (146,500) (9,500) (156,000) Balance, end of period $ 203,733 $ 76,071 $ 279,804 Three Months Ended September 30, 2020 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of period $ 301,050 $ 80,571 $ 381,621 Charge-offs (37,284) — (37,284) Recoveries 1,200 — 1,200 Net charge-offs (36,084) — (36,084) Provision 81,000 16,000 97,000 Balance, end of period $ 345,966 $ 96,571 $ 442,537 Nine Months Ended September 30, 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 (73,275) — (73,275) Recoveries 4,839 — 4,839 Net charge-offs (68,436) — (68,436) Provision 272,000 57,000 329,000 Balance, end of period $ 345,966 $ 96,571 $ 442,537 |
Foreclosed Assets (Tables)
Foreclosed Assets (Tables) | 9 Months Ended |
Sep. 30, 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: September 30, December 31, Property Type 2021 2020 (In thousands) Commercial real estate $ 12,594 $ 12,979 Construction and land development — 219 Single-family residence 415 — Total other real estate owned, net 13,009 13,198 Other foreclosed assets 355 829 Total foreclosed assets, net $ 13,364 $ 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 1,062 Provision for losses (14) Reductions related to sales (1,711) Balance, September 30, 2021 $ 13,364 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 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 125,448 Balance, September 30, 2021 $ 1,204,118 |
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 Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In thousands) Gross Amount of CDI and CRI: Balance, beginning of period $ 100,550 $ 109,646 $ 109,646 $ 117,573 Addition from Civic acquisition — — 750 — Fully amortized portion — — (9,846) (7,927) Balance, end of period 100,550 109,646 100,550 109,646 Accumulated Amortization: Balance, beginning of period (82,127) (79,082) (86,005) (79,179) Amortization expense (2,890) (3,751) (8,858) (11,581) Fully amortized portion — — 9,846 7,927 Balance, end of period (85,017) (82,833) (85,017) (82,833) Net CDI and CRI, end of period $ 15,533 $ 26,813 $ 15,533 $ 26,813 |
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: September 30, 2021 (In thousands) Period ending December 31, 2021 $ 2,362 2022 7,672 2023 3,788 2024 1,711 Net CDI and CRI $ 15,533 |
Other Assets (Tables)
Other Assets (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Other Assets [Abstract] | |
Schedule of Other Assets | The following table presents the detail of our other assets as of the dates indicated: September 30, December 31, Other Assets 2021 2020 (In thousands) LIHTC investments $ 279,608 $ 213,034 Cash surrender value of BOLI 202,725 203,031 Operating lease ROU assets, net (1) 124,926 119,787 Interest receivable 109,855 101,596 SBIC investments 42,553 32,327 Equity investments without readily determinable fair values 36,787 34,304 Prepaid expenses 28,512 22,999 Equity investments with readily determinable fair values 18,829 6,147 Taxes receivable 16,898 59,565 Equity warrants (2) 3,747 4,520 Other receivables/assets 106,039 63,016 Total other assets $ 970,479 $ 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) | 9 Months Ended |
Sep. 30, 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 Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In thousands) Operating lease expense: Fixed costs $ 8,678 $ 8,950 $ 25,950 $ 26,027 Variable costs 18 15 42 40 Short-term lease costs 357 117 1,042 312 Sublease income (1,114) (1,081) (3,297) (3,100) Net lease expense $ 7,939 $ 8,001 $ 23,737 $ 23,279 |
Schedule of Cash Flow, Supplemental Disclosures | The following table presents supplemental cash flow information related to leases for the periods indicated: Nine Months Ended September 30, 2021 2020 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 27,386 $ 25,198 ROU assets obtained in exchange for lease obligations: Operating leases $ 29,840 $ 19,027 |
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: September 30, December 31, 2021 2020 (Dollars in thousands) Operating leases: Operating lease right-of-use assets, net $ 124,926 $ 119,787 Operating lease liabilities $ 144,259 $ 139,501 Weighted average remaining lease term (in years) 5.7 5.8 Weighted average discount rate 2.27 % 2.54 % |
Schedule of Maturities of Operating Leases | The following table presents the maturities of operating lease liabilities as of the date indicated: September 30, 2021 (In thousands) Period ending December 31, 2021 $ 8,840 2022 34,415 2023 31,900 2024 24,810 2025 18,100 Thereafter 36,547 Total operating lease liabilities 154,612 Less: Imputed interest (10,353) Present value of operating lease liabilities $ 144,259 |
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: September 30, 2021 (In thousands) Period ending December 31, 2021 $ 10,678 2022 45,363 2023 36,169 2024 30,483 2025 23,114 Thereafter 47,870 Total undiscounted cash flows $ 193,677 |
Borrowings and Subordinated D_2
Borrowings and Subordinated Debentures (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of debt | The following table summarizes our borrowings as of the dates indicated: September 30, 2021 December 31, 2020 Weighted Weighted Average Average Balance Rate Balance Rate (Dollars in thousands) FHLB secured advances $ — — % $ 5,000 — % Total borrowings $ — — % $ 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: September 30, 2021 December 31, 2020 Maturity Maturity Balance Rate Date Balance Rate Date (Dollars in thousands) FHLB term advance $ — — % $ 5,000 — % 5/6/2021 Total $ — — % $ 5,000 — % |
Schedule of Subordinated Borrowing | The following table summarizes the terms of each issuance of subordinated debt outstanding as of the dates indicated: September 30, 2021 December 31, 2020 Date Maturity Rate Index Series Balance Rate (1) Balance Rate (1) Issued Date (Quarterly Reset) (Dollars in thousands) Subordinated notes, net (2) $ 394,511 3.25 % $ — — % 4/30/2021 5/1/2031 Fixed rate (3) Trust V 10,310 3.22 % 10,310 3.33 % 8/15/2003 9/17/2033 3-month LIBOR + 3.10 Trust VI 10,310 3.17 % 10,310 3.27 % 9/3/2003 9/15/2033 3-month LIBOR + 3.05 Trust CII 5,155 3.07 % 5,155 3.18 % 9/17/2003 9/17/2033 3-month LIBOR + 2.95 Trust VII 61,856 2.88 % 61,856 2.96 % 2/5/2004 4/23/2034 3-month LIBOR + 2.75 Trust CIII 20,619 1.81 % 20,619 1.91 % 8/15/2005 9/15/2035 3-month LIBOR + 1.69 Trust FCCI 16,495 1.72 % 16,495 1.82 % 1/25/2007 3/15/2037 3-month LIBOR + 1.60 Trust FCBI 10,310 1.67 % 10,310 1.77 % 9/30/2005 12/15/2035 3-month LIBOR + 1.55 Trust CS 2005-1 82,475 2.07 % 82,475 2.17 % 11/21/2005 12/15/2035 3-month LIBOR + 1.95 Trust CS 2005-2 128,866 2.08 % 128,866 2.16 % 12/14/2005 1/30/2036 3-month LIBOR + 1.95 Trust CS 2006-1 51,545 2.08 % 51,545 2.16 % 2/22/2006 4/30/2036 3-month LIBOR + 1.95 Trust CS 2006-2 51,550 2.08 % 51,550 2.16 % 9/27/2006 10/30/2036 3-month LIBOR + 1.95 Trust CS 2006-3 (4) 29,847 1.50 % 31,487 1.54 % 9/29/2006 10/30/2036 3-month EURIBOR + 2.05 Trust CS 2006-4 16,470 2.08 % 16,470 2.16 % 12/5/2006 1/30/2037 3-month LIBOR + 1.95 Trust CS 2006-5 6,650 2.08 % 6,650 2.16 % 12/19/2006 1/30/2037 3-month LIBOR + 1.95 Trust CS 2007-2 39,177 2.08 % 39,177 2.16 % 6/13/2007 7/30/2037 3-month LIBOR + 1.95 Total subordinated debt 936,146 2.62 % 543,275 2.24 % Acquisition discount (5) (73,699) (77,463) Net subordinated debt $ 862,447 $ 465,812 ___________________ (1) Rates do not include the effects of discounts and issuance costs. (2) Net of unamortized issuance costs of $5.5 million. (3) Interest rate is fixed until May 1, 2026, when it changes to a floating rate and resets quarterly at a benchmark rate plus 25,200 basis points. (4) Denomination is in Euros with a value of €25.8 million. (5) Amount represents the fair value adjustment on trust preferred securities assumed in acquisitions. |
Derivatives (Tables)
Derivatives (Tables) | 9 Months Ended |
Sep. 30, 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: September 30, 2021 December 31, 2020 Notional Fair Notional Fair Derivatives Not Designated As Hedging Instruments Amount Value Amount Value (In thousands) Derivative Assets: Interest rate contracts $ 87,927 $ 952 $ 59,867 $ 1,028 Foreign exchange contracts 28,463 1,711 73,108 3,202 Interest rate and economic contracts 116,390 2,663 132,975 4,230 Equity warrant assets 19,539 3,747 24,081 4,520 Total $ 135,929 $ 6,410 $ 157,056 $ 8,750 Derivative Liabilities: Interest rate contracts $ 87,927 $ 878 $ 59,867 $ 1,004 Foreign exchange contracts 28,463 — 73,108 146 Total $ 116,390 $ 878 $ 132,975 $ 1,150 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments disclosure | The following table presents a summary of commitments described below as of the dates indicated: September 30, December 31, 2021 2020 (In thousands) Loan commitments to extend credit $ 8,480,599 $ 7,601,390 Standby letters of credit 344,383 337,336 Commitments to contribute capital to SBICs and CRA-related loan pools 78,551 55,499 Total $ 8,903,533 $ 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: September 30, 2021 (In thousands) Period ending December 31, 2021 $ 34,229 2022 35,112 2023 3,652 2024 5,558 Total $ 78,551 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, 2021 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available-for-sale: Agency residential MBS $ 2,180,993 $ — $ 2,180,993 $ — Municipal securities 1,989,929 — 1,989,929 — Agency commercial MBS 1,314,024 — 1,314,024 — Agency residential CMOs 1,088,537 — 1,088,537 — U.S. Treasury securities 971,268 971,268 — — Corporate debt securities 516,615 — 516,615 — Private label commercial MBS 388,318 — 369,989 18,329 Collateralized loan obligations 358,547 — 358,547 — Private label residential CMOs 303,681 — 299,860 3,821 Asset-backed securities 132,997 — 132,997 — SBA securities 32,017 — 32,017 — Total securities available-for-sale $ 9,276,926 $ 971,268 $ 8,283,508 $ 22,150 Equity investments with readily determinable fair values $ 18,829 $ 18,829 $ — $ — Derivatives (1) : Equity warrants 3,747 — — 3,747 Interest rate and economic contracts 2,663 — 2,663 — Derivative liabilities 878 — 878 — Fair Value Measurements as of December 31, 2020 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available-for-sale: Municipal securities $ 1,531,617 $ — $ 1,531,617 $ — Agency commercial MBS 1,281,877 — 1,281,877 — Agency residential CMOs 1,219,880 — 1,219,880 — Agency residential MBS 341,074 — 341,074 — Corporate debt securities 311,889 — 311,889 — Asset-backed securities 166,546 — 166,546 — Collateralized loan obligations 135,876 — 135,876 — Private label residential CMOs 116,946 — 112,299 4,647 Private label commercial MBS 82,957 — 57,232 25,725 SBA securities 41,627 — 41,627 — U.S. Treasury securities 5,302 5,302 — — Total securities available-for-sale $ 5,235,591 $ 5,302 $ 5,199,917 $ 30,372 Equity investments with readily determinable fair values $ 6,147 $ 6,147 $ — $ — Derivatives (1) : Equity warrants 4,520 — — 4,520 Interest rate and economic contracts 4,230 — 4,230 — Derivative liabilities 1,150 — 1,150 — |
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 private label commercial MBS available-for-sale measured at fair value on a recurring basis as of the date indicated: September 30, 2021 Private Label Residential CMOs Private Label Commercial MBS Weighted Input or Weighted Range Average Range Average Unobservable Inputs of Inputs Input (1) of Inputs Input (2) Voluntary annual prepayment speeds 4.0% - 31.3% 12.5% 10.0% - 15.0% 11.9% Annual default rates (3) 0.1% - 12.0% 2.4% 2.0% 2.0% Loss severity rates (3) 16.5% - 82.1% 56.5% 60.0% 60.0% Discount rates 0.0% - 10.5% 6.7% 2.7% - 3.3% 2.9% ____________________ (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 private label commercial MBS 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 private label commercial MBS. |
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: September 30, 2021 Equity Warrants Weighted Range Average Unobservable Inputs of Inputs Input (1) Volatility 19.7% - 145.9% 29.4% Risk-free interest rate 0.0% - 1.0% 0.5% Remaining life assumption (in years) 0.08 - 4.99 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: September 30, 2021 Valuation Unobservable Input or Weighted Asset Fair Value Technique Inputs Range Average (In thousands) Individually evaluated loans and leases $ 26,278 Discounted cash flows Discount rates 3.75% - 7.75% 6.21% Individually evaluated loans and leases 5,833 Third party appraisals No discounts Total non-recurring Level 3 $ 32,111 |
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, private label commercial MBS available-for-sale, and equity warrants measured at fair value on a recurring basis for the period indicated: Private Label Private Label Equity Residential CMOs Commercial MBS Warrants (In thousands) Balance, December 31, 2020 $ 4,647 $ 25,725 $ 4,520 Total included in earnings 263 (64) 25,351 Total included in other comprehensive income (270) (20) — Issuances — — 267 Sales — — (25,809) Net settlements (819) (7,312) — Transfers to Level 1 (equity investments with readily determinable fair values) — — (582) Balance, September 30, 2021 $ 3,821 $ 18,329 $ 3,747 Unrealized net gains (losses) for the period included in other comprehensive income for securities held at quarter-end $ 823 $ 136 |
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 September 30, 2021 Measured on a Non-Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases (1) $ 32,765 $ — $ 654 $ 32,111 Total non-recurring $ 32,765 $ — $ 654 $ 32,111 ______________________ (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 Nine Months Ended Losses on Assets September 30, September 30, Measured on a Non-Recurring Basis 2021 2020 2021 2020 (In thousands) Individually evaluated loans and leases $ 243 $ 29,047 $ 2,499 $ 40,920 OREO — 157 14 267 Total losses $ 243 $ 29,204 $ 2,513 $ 41,187 |
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: September 30, 2021 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 174,585 $ 174,585 $ 174,585 $ — $ — Interest-earning deposits in financial institutions 3,524,613 3,524,613 3,524,613 — — Securities available-for-sale 9,276,926 9,276,926 971,268 8,283,508 22,150 Investment in FHLB stock 17,250 17,250 — 17,250 — Loans and leases held for investment, net 20,307,287 20,904,189 — 654 20,903,535 Equity investments with readily determinable fair values 18,829 18,829 18,829 — — Equity warrants 3,747 3,747 — — 3,747 Interest rate and economic contracts 2,663 2,663 — 2,663 — Servicing rights 1,636 1,636 — — 1,636 Financial Liabilities: Core deposits 28,140,708 28,140,708 — 28,140,708 — Non-core non-maturity deposits 960,438 960,438 — 960,438 — Time deposits 1,458,599 1,459,457 — 1,459,457 — Borrowings — — — — — Subordinated debt 862,447 923,374 — 923,374 — Derivative liabilities 878 878 — 878 — December 31, 2020 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 150,464 $ 150,464 $ 150,464 $ — $ — Interest-earning deposits in financial institutions 3,010,197 3,010,197 3,010,197 — — Securities available-for-sale 5,235,591 5,235,591 5,302 5,199,917 30,372 Investment in FHLB stock 17,250 17,250 — 17,250 — Loans and leases held for investment, net 18,735,196 19,305,998 — 4,160 19,301,838 Equity investments with readily determinable fair values 6,147 6,147 6,147 — — Equity warrants 4,520 4,520 — — 4,520 Interest rate and economic contracts 4,230 4,230 — 4,230 — Financial Liabilities: Core deposits 22,264,480 22,264,480 — 22,264,480 — Non-core non-maturity deposits 1,149,467 1,149,467 — 1,149,467 — Time deposits 1,526,770 1,527,639 — 1,527,639 — Borrowings 5,000 4,995 — 4,995 — Subordinated debt 465,812 448,036 — 448,036 — Derivative liabilities 1,150 1,150 — 1,150 — |
Earnings (Loss) Per Share (Tabl
Earnings (Loss) Per Share (Tables) | 9 Months Ended |
Sep. 30, 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 Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (Dollars in thousands, except per share data) Basic Earnings (Loss) Per Share: Net earnings (loss) $ 139,996 $ 45,503 $ 470,914 $ (1,354,404) Less: Earnings allocated to unvested restricted stock (1) (2,417) (578) (7,930) (1,603) Net earnings (loss) allocated to common shares $ 137,579 $ 44,925 $ 462,984 $ (1,356,007) Weighted-average basic shares and unvested restricted stock outstanding 119,569 118,438 119,272 118,469 Less: Weighted-average unvested restricted stock outstanding (2,340) (1,684) (2,235) (1,596) Weighted-average basic shares outstanding 117,229 116,754 117,037 116,873 Basic earnings (loss) per share $ 1.17 $ 0.38 $ 3.96 $ (11.60) Diluted Earnings (Loss) Per Share: Net earnings (loss) allocated to common shares $ 137,579 $ 44,925 $ 462,984 $ (1,356,007) Weighted-average diluted shares outstanding 117,229 116,754 117,037 116,873 Diluted earnings (loss) per share $ 1.17 $ 0.38 $ 3.96 $ (11.60) ________________________ (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) | 9 Months Ended |
Sep. 30, 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 September 30, 2021 2020 Total Revenue from Total Revenue from Recorded Contracts with Recorded Contracts with Revenue Customers Revenue Customers (In thousands) Total interest income $ 290,082 $ — $ 265,908 $ — Noninterest income: Service charges on deposit accounts 3,407 3,407 2,570 2,570 Other commissions and fees 11,792 2,680 10,541 3,228 Leased equipment income 10,943 — 9,900 — Gain on sale of loans — — 35 — Gain on sale of securities 515 — 5,270 — Other income 24,688 (14) 9,936 289 Total noninterest income 51,345 6,073 38,252 6,087 Total revenue $ 341,427 $ 6,073 $ 304,160 $ 6,087 The following table presents revenue from contracts with customers based on the timing of revenue recognition for the periods indicated: Three Months Ended September 30, 2021 2020 (In thousands) Products and services transferred at a point in time $ 2,754 $ 3,189 Products and services transferred over time 3,319 2,898 Total revenue from contracts with customers $ 6,073 $ 6,087 Nine Months Ended September 30, 2021 2020 Total Revenue from Total Revenue from Recorded Contracts with Recorded Contracts with Revenue Customers Revenue Customers (In thousands) Total interest income $ 843,924 $ — $ 831,315 $ — Noninterest income: Service charges on deposit accounts 9,793 9,793 7,232 7,232 Other commissions and fees 31,654 8,140 30,373 10,388 Leased equipment income 33,144 — 34,188 — Gain on sale of loans 1,561 — 468 — Gain on sale of securities 616 — 13,167 — Other income 59,777 560 20,782 961 Total noninterest income 136,545 18,493 106,210 18,581 Total revenue $ 980,469 $ 18,493 $ 937,525 $ 18,581 The following table presents revenue from contracts with customers based on the timing of revenue recognition for the periods indicated: Nine Months Ended September 30, 2021 2020 (In thousands) Products and services transferred at a point in time $ 8,819 $ 10,152 Products and services transferred over time 9,674 8,429 Total revenue from contracts with customers $ 18,493 $ 18,581 |
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: September 30, 2021 December 31, 2020 (In thousands) Receivables, which are included in "Other assets" $ 1,219 $ 1,046 Contract assets, which are included in "Other assets" $ — $ — Contract liabilities, which are included in "Accrued interest payable and other liabilities" $ 261 $ 359 |
Recently Issued Accounting St_2
Recently Issued Accounting Standards (Tables) | 9 Months Ended |
Sep. 30, 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 has established a cross-functional project team and implementation plan to facilitate the LIBOR transition. As of September 30, 2021, the Company has completed its readiness efforts to identify loans and other financial instruments that are impacted by the discontinuance of LIBOR. We have also completed our review for fallback language contained in contracts for LIBOR-based loans and other financial instruments and have begun to execute a transition plan to amend those legacy contracts that do not have or have inadequate fallback language. With the impending phase-out of LIBOR, the Company has considered several viable alternative reference rates. Based on our current assessment, we plan to offer SOFR as the primary alternative reference rate, but may consider alternate rates such as the American Interbank Offered Rate (“Ameribor”) and others based on customer demands and/or the type of loan or financial instrument. The Company will also continue to assess impacts to our operations, financial models, data and technology as part of our transition plan. The Company is currently evaluating the impact of this Update on its consolidated financial statements but does not expect it to have a material impact. |
Organization - Narrative (Detai
Organization - Narrative (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2021USD ($) | Jun. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($)bank_branch | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | Jun. 30, 2020USD ($) | Jan. 01, 2020USD ($) | Dec. 31, 2019USD ($) | |
Business Acquisition [Line Items] | |||||||||
Retained earnings | $ | $ 880,305 | $ 880,305 | $ 409,391 | ||||||
Allowance for credit losses | $ | 279,804 | $ 300,171 | $ 442,537 | 279,804 | $ 442,537 | $ 433,752 | $ 381,621 | $ 181,973 | $ 174,646 |
Goodwill impairment | $ | $ 0 | $ 0 | $ 0 | $ 0 | $ 1,470,000 | ||||
CALIFORNIA | |||||||||
Business Acquisition [Line Items] | |||||||||
Retail branch locations | bank_branch | 69 | ||||||||
NORTH CAROLINA | |||||||||
Business Acquisition [Line Items] | |||||||||
Retail branch locations | bank_branch | 1 | ||||||||
COLORADO | |||||||||
Business Acquisition [Line Items] | |||||||||
Retail branch locations | bank_branch | 1 |
Acquisition (Details)
Acquisition (Details) - USD ($) $ in Thousands | Feb. 01, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | |
Business Acquisition [Line Items] | ||||
Cash and due from banks | $ 174,585 | $ 150,464 | ||
Loans and leases, net | [1] | 20,307,287 | 18,735,196 | |
Premises and equipment, net | 47,246 | 39,234 | ||
Goodwill | 1,204,118 | 1,078,670 | ||
Finite Lived Core Deposits Customer Relations Net | 15,533 | 23,641 | ||
Other assets | 970,479 | 860,326 | ||
Assets | 35,885,676 | 29,498,442 | ||
Noninterest-bearing deposits | 12,881,806 | 9,193,827 | ||
Borrowings | 0 | 5,000 | ||
Accrued interest payable and other liabilities | 545,050 | 491,962 | ||
Liabilities | $ 31,967,242 | $ 25,903,491 | ||
Civic | ||||
Business Acquisition [Line Items] | ||||
Cash and due from banks | $ 37,331 | |||
Loans and leases, net | 67,294 | |||
Premises and equipment, net | 1,197 | |||
Goodwill | 125,448 | |||
Finite Lived Core Deposits Customer Relations Net | 750 | |||
Other assets | 75,977 | |||
Assets | 307,997 | |||
Noninterest-bearing deposits | 37,339 | |||
Borrowings | 50,210 | |||
Accrued interest payable and other liabilities | 60,028 | |||
Liabilities | 147,577 | |||
Business Combination, Consideration Transferred | $ 160,420 | |||
[1] | Excludes accrued interest receivable of $75.7 million and $79.7 million at September 30, 2021 and December 31, 2020, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets. |
Acquisition Narrative (Details
Acquisition Narrative (Details - USD ($) $ in Thousands | Sep. 30, 2021 | Feb. 01, 2021 | Dec. 31, 2020 |
Loans and Leases Receivable Disclosure [Line Items] | |||
Liabilities | $ 31,967,242 | $ 25,903,491 | |
Assets | 35,885,676 | 29,498,442 | |
Goodwill | 1,204,118 | $ 1,078,670 | |
Civic | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Business Combination, Acquired Receivable, Fair Value | $ 1,000,000 | ||
Liabilities | $ 147,577 | ||
Assets | 307,997 | ||
Goodwill | $ 125,448 |
Restricted Cash Balances - Narr
Restricted Cash Balances - Narrative (Details) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 |
Restricted Cash [Abstract] | |||
Restricted Cash and Cash Equivalents | $ 0 | $ 55.2 | |
Pledged Cash for Derivative Contracts | $ 2 | $ 2.9 |
Investment Securities - Securit
Investment Securities - Securities Available for Sale (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss | $ 40,767 | $ 3,378 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 177,369 | 241,999 |
Debt Securities, Available-for-sale | 9,276,926 | 5,235,591 |
Total securities available-for-sale | 9,140,324 | 4,996,970 |
Government agency and government-sponsored enterprise collateralized mortgage obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss | 3,739 | 280 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 29,440 | 47,994 |
Debt Securities, Available-for-sale | 1,088,537 | 1,219,880 |
Total securities available-for-sale | 1,062,836 | 1,172,166 |
Municipal securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss | 6,991 | 18 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 67,167 | 93,631 |
Debt Securities, Available-for-sale | 1,989,929 | 1,531,617 |
Total securities available-for-sale | 1,929,753 | 1,438,004 |
Agency residential MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss | 15,787 | 897 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 11,236 | 12,483 |
Debt Securities, Available-for-sale | 2,180,993 | 341,074 |
Total securities available-for-sale | 2,185,544 | 329,488 |
Private label commercial MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss | 1,428 | 10 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 716 | 1,089 |
Debt Securities, Available-for-sale | 388,318 | 82,957 |
Total securities available-for-sale | 389,030 | 81,878 |
Asset-backed Securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss | 279 | 760 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 855 | 445 |
Debt Securities, Available-for-sale | 132,997 | 166,546 |
Total securities available-for-sale | 132,421 | 166,861 |
Collateralized loan obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss | 673 | 924 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 163 | 23 |
Debt Securities, Available-for-sale | 358,547 | 135,876 |
Total securities available-for-sale | 359,057 | 136,777 |
Private label collateralized mortgage obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss | 1,570 | 21 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 3,508 | 6,076 |
Debt Securities, Available-for-sale | 303,681 | 116,946 |
Total securities available-for-sale | 301,743 | 110,891 |
SBA asset-backed securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss | 17 | 27 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1,185 | 2,217 |
Debt Securities, Available-for-sale | 32,017 | 41,627 |
Total securities available-for-sale | 30,849 | 39,437 |
Corporate debt securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss | 1,161 | 404 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 11,976 | 3,490 |
Debt Securities, Available-for-sale | 516,615 | 311,889 |
Total securities available-for-sale | 505,800 | 308,803 |
U.S. Treasury securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss | 4,099 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 2,060 | 313 |
Debt Securities, Available-for-sale | 971,268 | 5,302 |
Total securities available-for-sale | 973,307 | 4,989 |
Government agency and government-sponsored enterprise commercial mortgage-backed securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Unrealized Loss | 5,023 | 37 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 49,063 | 74,238 |
Debt Securities, Available-for-sale | 1,314,024 | 1,281,877 |
Total securities available-for-sale | $ 1,269,984 | $ 1,207,676 |
Investment Securities - Realize
Investment Securities - Realized Gains and Losses on Securities Available-for-Sale (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Jun. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |||||
Available For Sale Investment Securities, Sold At Amortized Cost | $ 76,184 | $ 17,000 | $ 120,735 | $ 154,100 | |
Available-for-sale Securities, Gross Realized Gains | 517 | 5,270 | 618 | 13,199 | |
Gain on sale of securities | 515 | $ 0 | 5,270 | 616 | 13,167 |
Available-for-sale Securities, Gross Realized Losses | $ (2) | $ 0 | $ (2) | $ (32) |
Investment Securities - Unreali
Investment Securities - Unrealized Losses on Securities Available-for-Sale (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 4,242,422 | $ 457,559 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 40,254 | 2,474 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 76,794 | 90,077 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 513 | 904 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 4,319,216 | 547,636 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 40,767 | 3,378 |
Government agency and government-sponsored enterprise collateralized mortgage obligations | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 189,684 | 97,863 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 3,700 | 280 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 11,283 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 39 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 200,967 | 97,863 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 3,739 | 280 |
Municipal securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 583,499 | 5,919 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 6,860 | 18 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 2,559 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 131 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 586,058 | 5,919 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 6,991 | 18 |
Government agency and government-sponsored enterprise commercial mortgage-backed securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 282,753 | 58,408 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 5,023 | 37 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 282,753 | 58,408 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 5,023 | 37 |
Asset-backed Securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 25,044 | 14,636 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 49 | 53 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 16,126 | 61,031 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 230 | 707 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 41,170 | 75,667 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 279 | 760 |
Collateralized loan obligations | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 202,528 | 96,442 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 600 | 729 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 43,930 | 28,972 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 73 | 195 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 246,458 | 125,414 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 673 | 924 |
Private label collateralized mortgage obligations | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 234,541 | 788 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1,555 | 19 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 319 | 74 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 15 | 2 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 234,860 | 862 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 1,570 | 21 |
SBA asset-backed securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 2,127 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 27 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,897 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 17 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 1,897 | 2,127 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 17 | 27 |
Corporate debt securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 127,786 | 87,596 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1,161 | 404 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 127,786 | 87,596 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 1,161 | 404 |
U.S. Treasury securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 632,950 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 4,099 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Debt Securities, Available-for-sale, Unrealized Loss Position | 632,950 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 4,099 | 0 |
Private label commercial MBS | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 266,238 | 3,058 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1,428 | 10 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 266,238 | 3,058 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 1,428 | 10 |
Agency residential MBS | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 1,697,399 | 90,722 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 15,779 | 897 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 680 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 8 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 1,698,079 | 90,722 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | $ 15,787 | $ 897 |
Investment Securities - Contrac
Investment Securities - Contractual Maturities of Securities Available-for-Sale (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Amortized Cost | ||
Due in one year or less | $ 40,903 | |
Due after one year through five years | 578,943 | |
Due after five years through ten years | 2,991,339 | |
Due after ten years | 5,529,139 | |
Total securities available-for-sale | 9,140,324 | $ 4,996,970 |
Fair Value | ||
Due in one year or less | 41,218 | |
Due after one year through five years | 606,629 | |
Due after five years through ten years | 3,029,128 | |
Due after ten years | 5,599,951 | |
Total securities available-for-sale | $ 9,276,926 | $ 5,235,591 |
Investment Securities - Interes
Investment Securities - Interest Income on Investment Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Taxable interest | $ 31,980 | $ 17,835 | $ 79,156 | $ 59,457 |
Non-taxable interest | 8,542 | 6,272 | 25,113 | 17,113 |
Dividend income | 258 | 336 | 730 | 1,357 |
Total interest income on investment securities | $ 40,780 | $ 24,443 | $ 104,999 | $ 77,927 |
Investment Securities - Narrati
Investment Securities - Narrative (Details) $ in Millions | Sep. 30, 2021USD ($) |
Investments, Debt and Equity Securities [Abstract] | |
AFS securities pledged as collateral | $ 492 |
Loans and Leases - Loans and Le
Loans and Leases - Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | |
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||
Gross loans and leases held for investment | $ 20,588,255 | $ 19,153,357 | ||||||
Deferred fees, net | (77,235) | (69,980) | ||||||
Loans held for investment, net | 20,511,020 | 19,083,377 | $ 19,026,200 | |||||
Allowance for loan and lease losses | (203,733) | $ (225,600) | (348,181) | (345,966) | $ (301,050) | $ (142,402) | $ (138,785) | |
Loans and leases, net | [1] | 20,307,287 | 18,735,196 | |||||
Real Estate Mortgage | ||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||
Gross loans and leases held for investment | 9,590,037 | 7,905,193 | ||||||
Loans held for investment, net | 9,580,957 | 7,899,936 | 7,877,045 | |||||
Allowance for loan and lease losses | (96,203) | (107,013) | (138,342) | (121,694) | (130,724) | (49,883) | (44,575) | |
Real Estate Construction and Land | ||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||
Gross loans and leases held for investment | 3,699,435 | 3,393,145 | ||||||
Loans held for investment, net | 3,651,873 | 3,360,281 | 3,423,747 | |||||
Allowance for loan and lease losses | (52,659) | (54,582) | (78,356) | (90,173) | (70,113) | (21,952) | (30,544) | |
Commercial | ||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||
Gross loans and leases held for investment | 6,892,846 | 7,534,801 | ||||||
Loans held for investment, net | 6,872,222 | 7,502,905 | 7,363,174 | |||||
Allowance for loan and lease losses | (47,497) | (57,697) | (126,403) | (128,265) | (97,947) | (68,388) | (61,528) | |
Consumer | ||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||
Gross loans and leases held for investment | 405,937 | 320,218 | ||||||
Loans held for investment, net | 405,968 | 320,255 | 362,234 | |||||
Allowance for loan and lease losses | (7,374) | $ (6,308) | (5,080) | $ (5,834) | $ (2,266) | $ (2,179) | $ (2,138) | |
Loans and Finance Receivables [Member] | ||||||||
Financing Receivable, Credit Quality Indicator [Line Items] | ||||||||
Interest Receivable | $ 75,700 | $ 79,700 | ||||||
[1] | Excludes accrued interest receivable of $75.7 million and $79.7 million at September 30, 2021 and December 31, 2020, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets. |
Loans and Leases - Aging Analys
Loans and Leases - Aging Analysis of Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 |
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | $ 20,511,020 | $ 19,083,377 | $ 19,026,200 |
Financing Receivable Recorded Investment Total Past Due | 51,641 | 48,755 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 20,459,379 | 19,034,622 | |
30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 20,949 | 12,232 | |
90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 30,692 | 36,523 | |
Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 9,580,957 | 7,899,936 | 7,877,045 |
Financing Receivable Recorded Investment Total Past Due | 13,274 | 36,868 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 9,567,683 | 7,863,068 | |
Real Estate Mortgage | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 4,659 | 7,350 | |
Real Estate Mortgage | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 8,615 | 29,518 | |
Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,651,873 | 3,360,281 | 3,423,747 |
Financing Receivable Recorded Investment Total Past Due | 32,604 | 759 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 3,619,269 | 3,359,522 | |
Real Estate Construction and Land | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 13,017 | 759 | |
Real Estate Construction and Land | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 19,587 | 0 | |
Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 6,872,222 | 7,502,905 | 7,363,174 |
Financing Receivable Recorded Investment Total Past Due | 4,364 | 9,757 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 6,867,858 | 7,493,148 | |
Commercial | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 2,231 | 2,863 | |
Commercial | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 2,133 | 6,894 | |
Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 405,968 | 320,255 | $ 362,234 |
Financing Receivable Recorded Investment Total Past Due | 1,399 | 1,371 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 404,569 | 318,884 | |
Consumer | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 1,042 | 1,260 | |
Consumer | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 357 | 111 | |
Asset-based | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,661,769 | 3,429,283 | |
Financing Receivable Recorded Investment Total Past Due | 479 | 2,128 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 3,661,290 | 3,427,155 | |
Asset-based | Commercial | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 0 | 0 | |
Asset-based | Commercial | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 479 | 2,128 | |
Venture Capital Loans | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,632,861 | 1,698,508 | |
Financing Receivable Recorded Investment Total Past Due | 1,670 | 540 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 1,631,191 | 1,697,968 | |
Venture Capital Loans | Commercial | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 1,670 | 540 | |
Venture Capital Loans | Commercial | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 0 | 0 | |
Other Commercial | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,577,592 | 2,375,114 | |
Financing Receivable Recorded Investment Total Past Due | 2,215 | 7,089 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 1,575,377 | 2,368,025 | |
Other Commercial | Commercial | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 561 | 2,323 | |
Other Commercial | Commercial | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 1,654 | 4,766 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 992,003 | 1,117,121 | |
Financing Receivable Recorded Investment Total Past Due | 0 | 0 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 992,003 | 1,117,121 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 0 | 0 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 0 | 0 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,659,870 | 2,243,160 | |
Financing Receivable Recorded Investment Total Past Due | 32,604 | 759 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 2,627,266 | 2,242,401 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 13,017 | 759 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 19,587 | 0 | |
Commercial | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,694,597 | 4,096,671 | |
Financing Receivable Recorded Investment Total Past Due | 3,853 | 35,895 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 3,690,744 | 4,060,776 | |
Commercial | Real Estate Mortgage | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 899 | 6,750 | |
Commercial | Real Estate Mortgage | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 2,954 | 29,145 | |
Residential Real Estate [Member] | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 5,886,360 | 3,803,265 | |
Financing Receivable Recorded Investment Total Past Due | 9,421 | 973 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 5,876,939 | 3,802,292 | |
Residential Real Estate [Member] | Real Estate Mortgage | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 3,760 | 600 | |
Residential Real Estate [Member] | Real Estate Mortgage | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | $ 5,661 | $ 373 |
Loans and Leases - Nonaccrual a
Loans and Leases - Nonaccrual and Performing Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 |
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | $ 64,507 | $ 91,163 | $ 85,615 |
Loans held for investment, net | 20,511,020 | 19,083,377 | 19,026,200 |
Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 33,162 | 45,557 | 47,128 |
Loans held for investment, net | 9,580,957 | 7,899,936 | 7,877,045 |
Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 19,918 | 315 | 324 |
Loans held for investment, net | 3,651,873 | 3,360,281 | 3,423,747 |
Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 10,932 | 44,902 | 37,759 |
Loans held for investment, net | 6,872,222 | 7,502,905 | 7,363,174 |
Consumer | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 495 | 389 | 404 |
Loans held for investment, net | 405,968 | 320,255 | $ 362,234 |
Performing | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 20,446,513 | 18,992,214 | |
Performing | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 9,547,795 | 7,854,379 | |
Performing | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 3,631,955 | 3,359,966 | |
Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 6,861,290 | 7,458,003 | |
Performing | Consumer | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 405,473 | 319,866 | |
Asset-based | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 1,605 | 2,679 | |
Loans held for investment, net | 3,661,769 | 3,429,283 | |
Asset-based | Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 3,660,164 | 3,426,604 | |
Venture Capital Loans | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 2,348 | 1,980 | |
Loans held for investment, net | 1,632,861 | 1,698,508 | |
Venture Capital Loans | Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 1,630,513 | 1,696,528 | |
Other Commercial | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 6,979 | 40,243 | |
Loans held for investment, net | 1,577,592 | 2,375,114 | |
Other Commercial | Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 1,570,613 | 2,334,871 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 0 | 315 | |
Loans held for investment, net | 992,003 | 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 | 992,003 | 1,116,806 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 19,918 | 0 | |
Loans held for investment, net | 2,659,870 | 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 | 2,639,952 | 2,243,160 | |
Commercial | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 25,615 | 43,731 | |
Loans held for investment, net | 3,694,597 | 4,096,671 | |
Commercial | Performing | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 3,668,982 | 4,052,940 | |
Residential Real Estate [Member] | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 7,547 | 1,826 | |
Loans held for investment, net | 5,886,360 | 3,803,265 | |
Residential Real Estate [Member] | Performing | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | $ 5,878,813 | $ 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 | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 |
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | $ 20,511,020 | $ 19,083,377 | $ 19,026,200 |
Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 9,580,957 | 7,899,936 | 7,877,045 |
Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,651,873 | 3,360,281 | 3,423,747 |
Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 6,872,222 | 7,502,905 | 7,363,174 |
Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 405,968 | 320,255 | $ 362,234 |
Classified | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 141,604 | 265,262 | |
Classified | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 82,662 | 100,310 | |
Classified | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 19,918 | 42,558 | |
Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 38,500 | 121,932 | |
Classified | Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 524 | 462 | |
Special Mention | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 496,366 | 721,285 | |
Special Mention | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 275,860 | 323,846 | |
Special Mention | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 74,973 | 108,351 | |
Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 143,368 | 286,356 | |
Special Mention | Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,165 | 2,732 | |
Pass | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 19,873,050 | 18,096,830 | |
Pass | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 9,222,435 | 7,475,780 | |
Pass | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,556,982 | 3,209,372 | |
Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 6,690,354 | 7,094,617 | |
Pass | Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 403,279 | 317,061 | |
Asset-based | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,661,769 | 3,429,283 | |
Asset-based | Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 4,734 | 27,867 | |
Asset-based | Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 87,980 | 153,301 | |
Asset-based | Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,569,055 | 3,248,115 | |
Venture Capital Loans | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,632,861 | 1,698,508 | |
Venture Capital Loans | Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 4,840 | 6,508 | |
Venture Capital Loans | Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 38,281 | 118,125 | |
Venture Capital Loans | Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,589,740 | 1,573,875 | |
Other Commercial | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,577,592 | 2,375,114 | |
Other Commercial | Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 28,926 | 87,557 | |
Other Commercial | Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 17,107 | 14,930 | |
Other Commercial | Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,531,559 | 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 | 992,003 | 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 | 0 | 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 | 67,649 | 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 | 924,354 | 966,971 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,659,870 | 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 | 19,918 | 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 | 7,324 | 759 | |
Residential Real Estate Construction Financing Receivable | Pass | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,632,628 | 2,242,401 | |
Commercial | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,694,597 | 4,096,671 | |
Commercial | Classified | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 69,059 | 91,543 | |
Commercial | Special Mention | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 202,029 | 262,462 | |
Commercial | Pass | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,423,509 | 3,742,666 | |
Residential Real Estate [Member] | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 5,886,360 | 3,803,265 | |
Residential Real Estate [Member] | Classified | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 13,603 | 8,767 | |
Residential Real Estate [Member] | Special Mention | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 73,831 | 61,384 | |
Residential Real Estate [Member] | Pass | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | $ 5,798,926 | 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 | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | $ 64,507 | $ 85,615 | $ 64,507 | $ 85,615 | $ 91,163 |
Financing Receivable, Nonaccrual, Interest Income | 93 | 672 | 516 | 1,913 | |
Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 33,162 | 47,128 | 33,162 | 47,128 | 45,557 |
Financing Receivable, Nonaccrual, Interest Income | 90 | 155 | 511 | 285 | |
Real Estate Construction and Land | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 19,918 | 324 | 19,918 | 324 | 315 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 10,932 | 37,759 | 10,932 | 37,759 | 44,902 |
Financing Receivable, Nonaccrual, Interest Income | 3 | 517 | 5 | 1,628 | |
Consumer | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 495 | 404 | 495 | 404 | 389 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Finance Receivable Allowance | Consumer | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 495 | 404 | 495 | 404 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Commercial | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 25,615 | 25,615 | 43,731 | ||
Financing Receivable, Nonaccrual, No Allowance | 25,543 | 44,384 | 25,543 | 44,384 | |
Commercial | Finance Receivable Allowance | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 72 | 736 | 72 | 736 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Commercial | No Finance Receivable Allowance | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | 90 | 155 | 511 | 285 | |
Residential Real Estate [Member] | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 7,547 | 7,547 | 1,826 | ||
Financing Receivable, Nonaccrual, No Allowance | 4,224 | 845 | 4,224 | 845 | |
Residential Real Estate [Member] | Finance Receivable Allowance | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 3,323 | 1,163 | 3,323 | 1,163 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Residential Real Estate [Member] | No Finance Receivable Allowance | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 0 | 0 | 315 | ||
Financing Receivable, Nonaccrual, No Allowance | 0 | 324 | 0 | 324 | |
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 | 0 | 0 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 19,918 | 19,918 | 0 | ||
Financing Receivable, Nonaccrual, No Allowance | 17,931 | 0 | 17,931 | 0 | |
Residential Real Estate Construction Financing Receivable | Finance Receivable Allowance | Real Estate Construction and Land | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 1,987 | 0 | 1,987 | 0 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 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 | 0 | 0 | |
Asset-based | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 1,605 | 1,605 | 2,679 | ||
Financing Receivable, Nonaccrual, No Allowance | 479 | 569 | 479 | 569 | |
Asset-based | Finance Receivable Allowance | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 1,126 | 2,248 | 1,126 | 2,248 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Asset-based | No Finance Receivable Allowance | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Venture Capital Loans | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 2,348 | 2,348 | 1,980 | ||
Venture Capital Loans | Finance Receivable Allowance | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 2,347 | 2,001 | 2,347 | 2,001 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Other Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Financing Receivable, Nonaccrual, No Allowance | 5,810 | 31,706 | 5,810 | 31,706 | |
Other Commercial | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 6,979 | 6,979 | $ 40,243 | ||
Other Commercial | Finance Receivable Allowance | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 1,170 | 1,235 | 1,170 | 1,235 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Other Commercial | No Finance Receivable Allowance | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | $ 3 | $ 517 | $ 5 | $ 1,628 |
Loans and Leases - Loans Held f
Loans and Leases - Loans Held for Investment by Loan Portfolio Segment (Details) - USD ($) $ in Thousands | 6 Months Ended | 9 Months Ended | |||
Jun. 30, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | ||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | $ 20,511,020 | $ 19,083,377 | $ 19,026,200 | ||
Allowance for Loan and Lease Losses, Write-offs | $ 93,589 | 6,320 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (6,368) | (8,372) | |||
Allowance for Loan Loss, Net Write offs | 87,221 | (2,052) | |||
Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 9,580,957 | 7,899,936 | 7,877,045 | ||
Commercial Real Estate Construction Loan Receivable | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 992,003 | 1,117,121 | |||
Allowance for Loan and Lease Losses, Write-offs | 0 | 775 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | 775 | |||
Residential Real Estate Construction Financing Receivable | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 2,659,870 | 2,243,160 | |||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (21) | 0 | |||
Allowance for Loan Loss, Net Write offs | (21) | 0 | |||
Commercial | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 6,872,222 | 7,502,905 | 7,363,174 | ||
Consumer | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 405,968 | 320,255 | $ 362,234 | ||
Allowance for Loan and Lease Losses, Write-offs | 798 | 1,080 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (201) | (113) | |||
Allowance for Loan Loss, Net Write offs | 597 | 967 | |||
Revolving Credit Facility [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 4,648,401 | 4,444,169 | |||
Allowance for Loan and Lease Losses, Write-offs | 27,498 | 75 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (787) | (82) | |||
Allowance for Loan Loss, Net Write offs | 26,711 | (7) | |||
Revolving Credit Facility [Member] | Commercial Real Estate Construction Loan Receivable | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 16,176 | 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 | 25,435 | 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 | 8,802 | 9,047 | |||
Allowance for Loan and Lease Losses, Write-offs | 22 | 0 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | (1) | |||
Allowance for Loan Loss, Net Write offs | 22 | (1) | |||
Revolving Converted To Term Loan [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 111,958 | 216,674 | |||
Allowance for Loan and Lease Losses, Write-offs | 2,337 | 2,355 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (19) | (111) | |||
Allowance for Loan Loss, Net Write offs | 2,318 | 2,244 | |||
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 | 7,121 | 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 | 104 | 105 | |||
Allowance for Loan and Lease Losses, Write-offs | 9 | 1 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | |||
Allowance for Loan Loss, Net Write offs | 9 | 1 | |||
Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 4,538,402 | 3,061,972 | |||
Allowance for Loan and Lease Losses, Write-offs | 0 | 28 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (52) | 0 | |||
Allowance for Loan Loss, Net Write offs | (52) | 28 | |||
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 | 29,494 | 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 | 848,257 | 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 | 182,229 | 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 | 2,258,726 | 3,147,680 | |||
Allowance for Loan and Lease Losses, Write-offs | 97 | 56 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (18) | 0 | |||
Allowance for Loan Loss, Net Write offs | 79 | 56 | |||
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 | 100,207 | 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 | 543,856 | 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 | 32,138 | 111,165 | |||
Allowance for Loan and Lease Losses, Write-offs | 97 | 55 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | |||
Allowance for Loan Loss, Net Write offs | 97 | 55 | |||
Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 3,139,764 | 3,524,108 | |||
Allowance for Loan and Lease Losses, Write-offs | 6,773 | 857 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (487) | (27) | |||
Allowance for Loan Loss, Net Write offs | 6,286 | 830 | |||
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 | 367,448 | 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 | 982,270 | 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 | 75,311 | 64,469 | |||
Allowance for Loan and Lease Losses, Write-offs | 86 | 545 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (1) | 0 | |||
Allowance for Loan Loss, Net Write offs | 85 | 545 | |||
Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 2,565,173 | 2,091,555 | |||
Allowance for Loan and Lease Losses, Write-offs | 4,013 | 1,249 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (229) | (40) | |||
Allowance for Loan Loss, Net Write offs | 3,784 | 1,209 | |||
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 | 396,084 | 185,782 | |||
Allowance for Loan and Lease Losses, Write-offs | 0 | 775 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | 775 | |||
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 | 195,691 | 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 | 45,213 | 39,347 | |||
Allowance for Loan and Lease Losses, Write-offs | 177 | 259 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (10) | (27) | |||
Allowance for Loan Loss, Net Write offs | 167 | 232 | |||
Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 1,428,226 | 1,069,061 | |||
Allowance for Loan and Lease Losses, Write-offs | 594 | 223 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (396) | (147) | |||
Allowance for Loan Loss, Net Write offs | 198 | 76 | |||
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 | 68,374 | 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 | 51,769 | 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 | 23,856 | 42,101 | |||
Allowance for Loan and Lease Losses, Write-offs | 363 | 107 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (16) | (10) | |||
Allowance for Loan Loss, Net Write offs | 347 | 97 | |||
Prior [Member] | Term Loans By Origination Date [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 1,820,370 | 1,528,158 | |||
Allowance for Loan and Lease Losses, Write-offs | 52,277 | 1,477 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (4,380) | (7,965) | |||
Allowance for Loan Loss, Net Write offs | 47,897 | (6,488) | |||
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 | 14,220 | 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 | 5,471 | 688 | |||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (21) | 0 | |||
Allowance for Loan Loss, Net Write offs | (21) | 0 | |||
Prior [Member] | Term Loans By Origination Date [Member] | Consumer | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 38,315 | 13,376 | |||
Allowance for Loan and Lease Losses, Write-offs | 44 | 113 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (174) | (75) | |||
Allowance for Loan Loss, Net Write offs | (130) | 38 | |||
1-2 High Pass [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 2,171,660 | 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 | 43 | 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 | 686 | 546 | |||
1-2 High Pass [Member] | Revolving Credit Facility [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 818,183 | 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 | 663 | 509 | |||
1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 55,584 | 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 | 360,733 | 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 | 161,905 | 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 | 11 | 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 | 284,019 | 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 | 43 | 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 | 152,608 | 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 | 6 | 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 | 91,326 | 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 | 6 | 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 | 247,302 | 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 | 17,701,390 | 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 | 924,311 | 966,971 | |||
3-4 Pass [Member] | Residential Real Estate Construction Financing Receivable | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 2,632,628 | 2,242,401 | |||
3-4 Pass [Member] | Consumer | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 402,593 | 316,515 | |||
3-4 Pass [Member] | Revolving Credit Facility [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 3,790,357 | 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 | 16,176 | 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 | 25,435 | 9,034 | |||
3-4 Pass [Member] | Revolving Credit Facility [Member] | Consumer | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 8,137 | 8,536 | |||
3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 48,051 | 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 | 7,121 | 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 | 10 | 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 | 4,156,496 | 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 | 29,494 | 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 | 841,092 | 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 | 181,973 | 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 | 2,056,818 | 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 | 100,207 | 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 | 532,400 | 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 | 31,750 | 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 | 2,672,357 | 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 | 367,405 | 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 | 973,649 | 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 | 74,081 | 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 | 2,257,094 | 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 | 396,084 | 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 | 195,691 | 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 | 44,997 | 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 | 1,248,170 | 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 | 725 | 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 | 51,769 | 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 | 23,654 | 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 | 1,472,047 | 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 | 14,220 | 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 | 5,471 | 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 | 37,991 | 12,831 | |||
5 Special Mention [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 496,366 | 721,285 | |||
5 Special Mention [Member] | Commercial Real Estate Construction Loan Receivable | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 67,649 | 107,592 | |||
5 Special Mention [Member] | Residential Real Estate Construction Financing Receivable | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 7,324 | 759 | |||
5 Special Mention [Member] | Consumer | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 2,165 | 2,732 | |||
5 Special Mention [Member] | Revolving Credit Facility [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 15,029 | 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 | 4,263 | 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 | 75 | 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 | 13,399 | 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 | 1,767 | 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 | 256 | 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 | 29,588 | 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 | 5,557 | 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 | 377 | 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 | 157,078 | 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 | 1,071 | 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 | 144,161 | 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 | 0 | 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 | 210 | 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 | 75,754 | 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 | 67,649 | 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 | 23 | 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 | 57,094 | 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 | 153 | 239 | |||
6-8 Classified [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 141,604 | 265,262 | |||
6-8 Classified [Member] | Commercial Real Estate Construction Loan Receivable | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 0 | 42,558 | |||
6-8 Classified [Member] | Residential Real Estate Construction Financing Receivable | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 19,918 | 0 | |||
6-8 Classified [Member] | Consumer | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 524 | 462 | |||
6-8 Classified [Member] | Revolving Credit Facility [Member] | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 24,832 | 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 | 4,060 | 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 | 19 | 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 | 7,774 | 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 | 5,398 | 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 | 10,415 | 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 | 5,899 | 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 | 0 | 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 | 26,310 | 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 | 8,621 | 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 | 159 | 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 | 11,310 | 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 | 0 | 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 | 12,976 | 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 | 173 | 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 | 43,927 | 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 | 0 | 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 | 171 | 306 | |||
Commercial | Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 3,694,597 | 4,096,671 | |||
Allowance for Loan and Lease Losses, Write-offs | 10,178 | 579 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (289) | (5,934) | |||
Allowance for Loan Loss, Net Write offs | 9,889 | (5,355) | |||
Commercial | Revolving Credit Facility [Member] | Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 44,728 | 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 | 11,825 | 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 | 317,265 | 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 | 551,023 | 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 | 477,448 | 686,231 | |||
Allowance for Loan and Lease Losses, Write-offs | 154 | 190 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | |||
Allowance for Loan Loss, Net Write offs | 154 | 190 | |||
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 | 627,421 | 761,181 | |||
Allowance for Loan and Lease Losses, Write-offs | 3,330 | 168 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (9) | 0 | |||
Allowance for Loan Loss, Net Write offs | 3,321 | 168 | |||
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 | 536,840 | 444,372 | |||
Allowance for Loan and Lease Losses, Write-offs | 0 | 53 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | 53 | |||
Commercial | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 1,128,047 | 1,049,226 | |||
Allowance for Loan and Lease Losses, Write-offs | 6,694 | 168 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (280) | (5,934) | |||
Allowance for Loan Loss, Net Write offs | 6,414 | (5,766) | |||
Commercial | 1-2 High Pass [Member] | Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 108,623 | 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 | 2 | 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 | 565 | 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 | 5,835 | 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 | 48,421 | 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 | 5,816 | 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 | 10,448 | 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 | 37,536 | 41,222 | |||
Commercial | 3-4 Pass [Member] | Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 3,314,886 | 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 | 44,726 | 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 | 11,825 | 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 | 316,700 | 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 | 539,855 | 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 | 344,575 | 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 | 536,615 | 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 | 505,934 | 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 | 1,014,656 | 893,008 | |||
Commercial | 5 Special Mention [Member] | Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 202,029 | 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 | 4,839 | 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 | 67,336 | 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 | 79,223 | 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 | 7,985 | 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 | 42,646 | 57,367 | |||
Commercial | 6-8 Classified [Member] | Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 69,059 | 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 | 494 | 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 | 17,116 | 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 | 5,767 | 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 | 12,473 | 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 | 33,209 | 57,629 | |||
Residential Real Estate [Member] | Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 5,886,360 | 3,803,265 | |||
Allowance for Loan and Lease Losses, Write-offs | 508 | 84 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (328) | (56) | |||
Allowance for Loan Loss, Net Write offs | 180 | 28 | |||
Residential Real Estate [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 137,410 | 114,966 | |||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (1) | (1) | |||
Allowance for Loan Loss, Net Write offs | (1) | (1) | |||
Residential Real Estate [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 501 | 1,365 | |||
Allowance for Loan and Lease Losses, Write-offs | 457 | 0 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | |||
Allowance for Loan Loss, Net Write offs | 457 | 0 | |||
Residential Real Estate [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 | 2,356,415 | 562,525 | |||
Allowance for Loan and Lease Losses, Write-offs | 0 | 28 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | 28 | |||
Residential Real Estate [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 | 676,119 | 911,011 | |||
Allowance for Loan and Lease Losses, Write-offs | 0 | 1 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | 1 | |||
Residential Real Estate [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 | 793,607 | 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 [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 | 1,016,422 | 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 [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 | 607,800 | 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 [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 298,086 | 202,174 | |||
Allowance for Loan and Lease Losses, Write-offs | 51 | 55 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (327) | (55) | |||
Allowance for Loan Loss, Net Write offs | (276) | 0 | |||
Residential Real Estate [Member] | 1-2 High Pass [Member] | Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 218,563 | 204,644 | |||
Residential Real Estate [Member] | 1-2 High Pass [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 28,044 | 0 | |||
Residential Real Estate [Member] | 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 [Member] | 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 | 28,374 | 58,714 | |||
Residential Real Estate [Member] | 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 | 32,923 | 55,826 | |||
Residential Real Estate [Member] | 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 | 62,522 | 28,831 | |||
Residential Real Estate [Member] | 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 | 26,751 | 33,017 | |||
Residential Real Estate [Member] | 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 | 13,363 | 18,991 | |||
Residential Real Estate [Member] | 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 | 26,586 | 9,265 | |||
Residential Real Estate [Member] | 3-4 Pass [Member] | Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 5,580,363 | 3,528,470 | |||
Residential Real Estate [Member] | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 109,206 | 113,987 | |||
Residential Real Estate [Member] | 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 | 193 | 528 | |||
Residential Real Estate [Member] | 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 | 2,327,323 | 491,504 | |||
Residential Real Estate [Member] | 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 | 625,371 | 850,978 | |||
Residential Real Estate [Member] | 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 | 713,871 | 1,067,109 | |||
Residential Real Estate [Member] | 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 | 944,356 | 577,906 | |||
Residential Real Estate [Member] | 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 | 594,336 | 238,499 | |||
Residential Real Estate [Member] | 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 | 265,707 | 187,959 | |||
Residential Real Estate [Member] | 5 Special Mention [Member] | Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 73,831 | 61,384 | |||
Residential Real Estate [Member] | 5 Special Mention [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 160 | 861 | |||
Residential Real Estate [Member] | 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 | |||
Residential Real Estate [Member] | 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 | 384 | 12,307 | |||
Residential Real Estate [Member] | 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 | 13,803 | 4,207 | |||
Residential Real Estate [Member] | 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 | 17,214 | 42,455 | |||
Residential Real Estate [Member] | 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 | 42,270 | 1,554 | |||
Residential Real Estate [Member] | 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 | 0 | 0 | |||
Residential Real Estate [Member] | 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 | 0 | 0 | |||
Residential Real Estate [Member] | 6-8 Classified [Member] | Real Estate Mortgage | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 13,603 | 8,767 | |||
Residential Real Estate [Member] | 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 [Member] | 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 | 308 | 837 | |||
Residential Real Estate [Member] | 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 | 334 | 0 | |||
Residential Real Estate [Member] | 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 | 4,022 | 0 | |||
Residential Real Estate [Member] | 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 | 0 | 2,862 | |||
Residential Real Estate [Member] | 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 | 3,045 | 0 | |||
Residential Real Estate [Member] | 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 | 101 | 0 | |||
Residential Real Estate [Member] | 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 | 5,793 | 4,950 | |||
Asset-based | Commercial | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 3,661,769 | 3,429,283 | |||
Allowance for Loan and Lease Losses, Write-offs | 11,817 | 232 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (708) | (474) | |||
Allowance for Loan Loss, Net Write offs | 11,109 | (242) | |||
Asset-based | Revolving Credit Facility [Member] | Commercial | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 2,460,622 | 2,058,083 | |||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (236) | (23) | |||
Allowance for Loan Loss, Net Write offs | (236) | (23) | |||
Asset-based | Revolving Converted To Term Loan [Member] | Commercial | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 69,823 | 121,850 | |||
Allowance for Loan and Lease Losses, Write-offs | 0 | 232 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 0 | 0 | |||
Allowance for Loan Loss, Net Write offs | 0 | 232 | |||
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 | 187,592 | 271,468 | |||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (52) | 0 | |||
Allowance for Loan Loss, Net Write offs | (52) | 0 | |||
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 | 162,933 | 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 | 285,394 | 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 | 189,773 | 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 | 83,818 | 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 | 221,814 | 135,897 | |||
Allowance for Loan and Lease Losses, Write-offs | 11,817 | 0 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (420) | (451) | |||
Allowance for Loan Loss, Net Write offs | 11,397 | (451) | |||
Asset-based | 1-2 High Pass [Member] | Commercial | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 1,356,406 | 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 | 577,818 | 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 | 54,890 | 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 | 103,920 | 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 | 76,652 | 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 | 172,748 | 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 | 120,030 | 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 | 67,234 | 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 | 183,114 | 88,201 | |||
Asset-based | 3-4 Pass [Member] | Commercial | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 2,212,649 | 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 | 1,866,135 | 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 | 10,609 | 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 | 83,672 | 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 | 86,281 | 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 | 62,353 | 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 | 48,794 | 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 | 16,584 | 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 | 38,221 | 46,663 | |||
Asset-based | 5 Special Mention [Member] | Commercial | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 87,980 | 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 | 12,640 | 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 | 4,098 | 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 | 50,293 | 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 | 20,949 | 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 | 0 | 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 | 0 | 482 | |||
Asset-based | 6-8 Classified [Member] | Commercial | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 4,734 | 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 | 4,029 | 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 | 226 | (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 | 479 | 551 | |||
Venture Capital Loans | Commercial | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 1,632,861 | 1,698,508 | |||
Venture Capital Loans | Venture Capital Loans | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 1,632,861 | 1,698,508 | |||
Allowance for Loan and Lease Losses, Write-offs | 6,819 | 620 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (1,261) | (133) | |||
Allowance for Loan Loss, Net Write offs | 5,558 | 487 | |||
Venture Capital Loans | Revolving Credit Facility [Member] | Venture Capital Loans | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 1,325,775 | 1,376,195 | |||
Allowance for Loan and Lease Losses, Write-offs | 144 | 0 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (450) | 0 | |||
Allowance for Loan Loss, Net Write offs | (306) | 0 | |||
Venture Capital Loans | Revolving Converted To Term Loan [Member] | Venture Capital Loans | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 11,673 | 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 | 117,048 | 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 | 72,502 | 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 | 76,595 | 44,020 | |||
Allowance for Loan and Lease Losses, Write-offs | 6,533 | 0 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (478) | 0 | |||
Allowance for Loan Loss, Net Write offs | 6,055 | 0 | |||
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 | 14,990 | 7,785 | |||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (176) | (13) | |||
Allowance for Loan Loss, Net Write offs | (176) | (13) | |||
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 | 5,768 | 29,734 | |||
Allowance for Loan and Lease Losses, Write-offs | (8) | 0 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (154) | (93) | |||
Allowance for Loan Loss, Net Write offs | (162) | (93) | |||
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 | 8,510 | 9,236 | |||
Allowance for Loan and Lease Losses, Write-offs | 150 | 620 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (3) | (27) | |||
Allowance for Loan Loss, Net Write offs | 147 | 593 | |||
Venture Capital Loans | 1-2 High Pass [Member] | Venture Capital Loans | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 172,203 | [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 | 170,192 | [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 | 0 | [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 | (3) | [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 | 15 | [1] | 52 | ||
Venture Capital Loans | 3-4 Pass [Member] | Venture Capital Loans | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 1,417,537 | 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 | 1,155,622 | 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 | 9,326 | 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 | 106,056 | 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 | 67,392 | 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 | 56,089 | 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 | 12,490 | 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 | 5,771 | 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 | 4,791 | 5,494 | |||
Venture Capital Loans | 5 Special Mention [Member] | Venture Capital Loans | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 38,281 | 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 | (32) | 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 | 10,992 | 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 | 3,111 | 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 | 20,506 | 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 | 3,704 | 0 | |||
Venture Capital Loans | 6-8 Classified [Member] | Venture Capital Loans | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 4,840 | 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 | (7) | 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 | 2,347 | 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 | 0 | 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 | 2,500 | 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 | 0 | 3,690 | |||
Other Commercial | Commercial | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 1,577,592 | 2,375,114 | |||
Allowance for Loan and Lease Losses, Write-offs | 63,469 | 2,950 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (3,560) | (1,662) | |||
Allowance for Loan Loss, Net Write offs | 59,909 | 1,288 | |||
Other Commercial | Revolving Credit Facility [Member] | Commercial | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 629,453 | 806,675 | |||
Allowance for Loan and Lease Losses, Write-offs | 27,332 | 75 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (100) | (57) | |||
Allowance for Loan Loss, Net Write offs | 27,232 | 18 | |||
Other Commercial | Revolving Converted To Term Loan [Member] | Commercial | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 10,911 | 15,602 | |||
Allowance for Loan and Lease Losses, Write-offs | 1,871 | 2,122 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (19) | (111) | |||
Allowance for Loan Loss, Net Write offs | 1,852 | 2,011 | |||
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 | 500,102 | 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 | 119,948 | 96,094 | |||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (18) | 0 | |||
Allowance for Loan Loss, Net Write offs | (18) | 0 | |||
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 | 81,691 | 101,663 | |||
Allowance for Loan and Lease Losses, Write-offs | 0 | 122 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (8) | (27) | |||
Allowance for Loan Loss, Net Write offs | (8) | 95 | |||
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 | 79,579 | 78,717 | |||
Allowance for Loan and Lease Losses, Write-offs | 506 | 47 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (34) | 0 | |||
Allowance for Loan Loss, Net Write offs | 472 | 47 | |||
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 | 50,001 | 24,613 | |||
Allowance for Loan and Lease Losses, Write-offs | 239 | 63 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (226) | (44) | |||
Allowance for Loan Loss, Net Write offs | 13 | 19 | |||
Other Commercial | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 105,907 | 105,468 | |||
Allowance for Loan and Lease Losses, Write-offs | 33,521 | 521 | |||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | (3,155) | (1,423) | |||
Allowance for Loan Loss, Net Write offs | $ 30,366 | (902) | |||
Other Commercial | 1-2 High Pass [Member] | Commercial | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 315,136 | 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 | 41,464 | 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 | 694 | 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 | 227,874 | 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 | 44,485 | 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 | 285 | 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 | 278 | 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 | 51 | 1,350 | |||
Other Commercial | 3-4 Pass [Member] | Commercial | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 1,216,423 | 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 | 564,920 | 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 | 8,967 | 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 | 270,186 | 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 | 73,562 | 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 | 80,334 | 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 | 78,067 | 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 | 49,397 | 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 | 90,990 | 89,865 | |||
Other Commercial | 5 Special Mention [Member] | Commercial | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 17,107 | 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 | 2,261 | 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 | 90 | 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 | 1,901 | 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 | 658 | 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 | 1,509 | 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 | 97 | 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 | 10,591 | 10,440 | |||
Other Commercial | 6-8 Classified [Member] | Commercial | |||||
Loans and Leases Receivable Disclosure [Line Items] | |||||
Loans held for investment, net | 28,926 | 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 | 20,808 | 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 | 1,160 | 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 | 0 | 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 | 414 | 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 | (2) | 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 | 229 | 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 | $ 4,275 | $ 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 | 9 Months Ended | ||
Sep. 30, 2021USD ($)contract | Sep. 30, 2020USD ($)contract | Sep. 30, 2021USD ($)contract | Sep. 30, 2020USD ($)contract | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of loans | contract | 8 | 10 | 51 | 61 |
Pre-Modification Outstanding Recorded Investment | $ 4,248 | $ 37,138 | $ 56,576 | $ 66,841 |
Post-Modification Outstanding Recorded Investment | $ 4,248 | $ 2,272 | $ 35,981 | $ 30,200 |
Asset-based | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Loans | contract | 1 | 1 | ||
Other Commercial | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of Loans | contract | 2 | 2 | 1 | |
Real Estate Mortgage | Commercial | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of loans | contract | 0 | 1 | 2 | 9 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 12,594 | $ 647 | $ 16,339 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 | $ 0 | $ 3,745 |
Real Estate Mortgage | Residential Real Estate [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of loans | contract | 3 | 2 | 4 | 6 |
Pre-Modification Outstanding Recorded Investment | $ 297 | $ 157 | $ 518 | $ 911 |
Post-Modification Outstanding Recorded Investment | $ 297 | $ 157 | $ 518 | $ 911 |
Residential | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of loans | contract | 1 | 0 | ||
Pre-Modification Outstanding Recorded Investment | $ 208 | $ 0 | ||
Post-Modification Outstanding Recorded Investment | $ 208 | $ 0 | ||
Commercial | Asset-based | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of loans | contract | 1 | 1 | 2 | 8 |
Pre-Modification Outstanding Recorded Investment | $ 1,484 | $ 15,267 | $ 1,987 | $ 17,008 |
Post-Modification Outstanding Recorded Investment | $ 1,484 | $ 0 | $ 1,987 | $ 1,741 |
Commercial | Venture Capital Loans | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of loans | contract | 2 | 1 | 4 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 2,382 | $ 2,015 | $ 4,502 | $ 2,047 |
Post-Modification Outstanding Recorded Investment | $ 2,382 | $ 2,015 | $ 2,529 | $ 2,047 |
Commercial | Other Commercial | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of loans | contract | 2 | 5 | 37 | 33 |
Pre-Modification Outstanding Recorded Investment | $ 85 | $ 7,105 | $ 48,694 | $ 30,324 |
Post-Modification Outstanding Recorded Investment | $ 85 | $ 100 | $ 30,719 | $ 21,544 |
Consumer | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Number of loans | contract | 1 | 3 | ||
Pre-Modification Outstanding Recorded Investment | $ 20 | $ 212 | ||
Post-Modification Outstanding Recorded Investment | $ 20 | $ 212 |
Loans and Leases - Leases Recei
Loans and Leases - Leases Receivable Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Receivables [Abstract] | ||||
Direct Financing Lease, Interest Income | $ 2,287 | $ 1,869 | $ 6,645 | $ 6,224 |
Loans and Leases - Components o
Loans and Leases - Components of Leases Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Direct Financing Lease, Net Investment in Leases [Abstract] | ||
Lease payments receivable | $ 171,412 | $ 158,740 |
Unguaranteed residual assets | 24,862 | 19,303 |
Deferred costs and other | 1,257 | 996 |
Aggregate net investment in leases | $ 197,531 | $ 179,039 |
Loans and Leases - Maturities o
Loans and Leases - Maturities of Leases Receivable (Details) $ in Thousands | Sep. 30, 2021USD ($) |
Sales-type and Direct Financing Leases, Lease Receivable, Rolling Maturity [Abstract] | |
2021 | $ 18,527 |
2022 | 52,542 |
2023 | 39,820 |
2024 | 35,214 |
2025 | 20,231 |
Thereafter | 24,163 |
Total undiscounted cash flows | 190,497 |
Less: Unearned income | (19,085) |
Present value of lease payments | $ 171,412 |
Loans and Leases - Allowance fo
Loans and Leases - Allowance for Loan and Lease Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, beginning of period | $ 225,600 | $ 301,050 | $ 348,181 | $ 138,785 | |
Charge-offs | (1,516) | (37,284) | (6,320) | (73,275) | |
Recoveries | 1,149 | 1,200 | 8,372 | 4,839 | |
Net (charge-offs) recoveries | (367) | (36,084) | 2,052 | (68,436) | |
Provision | (21,500) | 81,000 | (146,500) | 272,000 | |
Balance, end of period | 203,733 | 345,966 | 203,733 | 345,966 | |
Amount of the allowance applicable to loans and leases: | |||||
Individually evaluated | 2,910 | 2,924 | 2,910 | 2,924 | |
Collectively evaluated | 200,823 | 343,042 | 200,823 | 343,042 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||||
Individually evaluated | 92,833 | 95,135 | 92,833 | 95,135 | |
Collectively evaluated | 20,418,187 | 18,931,065 | 20,418,187 | 18,931,065 | |
Loans held for investment, net | 20,511,020 | 19,026,200 | 20,511,020 | 19,026,200 | $ 19,083,377 |
Cumulative Effect of Change in Accounting Principle - CECL | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, end of period | (3,617) | (3,617) | |||
Real Estate Mortgage | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, beginning of period | 107,013 | 130,724 | 138,342 | 44,575 | |
Charge-offs | (29) | (1,551) | (663) | (6,233) | |
Recoveries | 563 | 109 | 5,990 | 360 | |
Net (charge-offs) recoveries | 534 | (1,442) | 5,327 | (5,873) | |
Provision | (11,344) | (7,588) | (47,466) | 77,684 | |
Balance, end of period | 96,203 | 121,694 | 96,203 | 121,694 | |
Amount of the allowance applicable to loans and leases: | |||||
Individually evaluated | 189 | 340 | 189 | 340 | |
Collectively evaluated | 96,014 | 121,354 | 96,014 | 121,354 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||||
Individually evaluated | 34,822 | 51,852 | 34,822 | 51,852 | |
Collectively evaluated | 9,546,135 | 7,825,193 | 9,546,135 | 7,825,193 | |
Loans held for investment, net | 9,580,957 | 7,877,045 | 9,580,957 | 7,877,045 | 7,899,936 |
Real Estate Mortgage | Cumulative Effect of Change in Accounting Principle - CECL | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, end of period | (5,308) | (5,308) | |||
Real Estate Construction and Land | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, beginning of period | 54,582 | 70,113 | 78,356 | 30,544 | |
Charge-offs | 0 | 0 | (775) | 0 | |
Recoveries | 0 | 21 | 0 | 21 | |
Net (charge-offs) recoveries | 0 | 21 | (775) | 21 | |
Provision | (1,923) | 20,039 | (24,922) | 68,200 | |
Balance, end of period | 52,659 | 90,173 | 52,659 | 90,173 | |
Amount of the allowance applicable to loans and leases: | |||||
Individually evaluated | 0 | 0 | 0 | 0 | |
Collectively evaluated | 52,659 | 90,173 | 52,659 | 90,173 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||||
Individually evaluated | 19,364 | 1,782 | 19,364 | 1,782 | |
Collectively evaluated | 3,632,509 | 3,421,965 | 3,632,509 | 3,421,965 | |
Loans held for investment, net | 3,651,873 | 3,423,747 | 3,651,873 | 3,423,747 | 3,360,281 |
Real Estate Construction and Land | Cumulative Effect of Change in Accounting Principle - CECL | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, end of period | 8,592 | 8,592 | |||
Commercial | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, beginning of period | 57,697 | 97,947 | 126,403 | 61,528 | |
Charge-offs | (951) | (35,666) | (3,802) | (66,337) | |
Recoveries | 543 | 1,063 | 2,269 | 4,410 | |
Net (charge-offs) recoveries | (408) | (34,603) | (1,533) | (61,927) | |
Provision | (9,792) | 64,921 | (77,373) | 121,804 | |
Balance, end of period | 47,497 | 128,265 | 47,497 | 128,265 | |
Amount of the allowance applicable to loans and leases: | |||||
Individually evaluated | 2,721 | 2,584 | 2,721 | 2,584 | |
Collectively evaluated | 44,776 | 125,681 | 44,776 | 125,681 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||||
Individually evaluated | 38,647 | 41,501 | 38,647 | 41,501 | |
Collectively evaluated | 6,833,575 | 7,321,673 | 6,833,575 | 7,321,673 | |
Loans held for investment, net | 6,872,222 | 7,363,174 | 6,872,222 | 7,363,174 | 7,502,905 |
Commercial | Cumulative Effect of Change in Accounting Principle - CECL | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, end of period | (6,860) | (6,860) | |||
Consumer | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, beginning of period | 6,308 | 2,266 | 5,080 | 2,138 | |
Charge-offs | (536) | (67) | (1,080) | (705) | |
Recoveries | 43 | 7 | 113 | 48 | |
Net (charge-offs) recoveries | (493) | (60) | (967) | (657) | |
Provision | 1,559 | 3,628 | 3,261 | 4,312 | |
Balance, end of period | 7,374 | 5,834 | 7,374 | 5,834 | |
Amount of the allowance applicable to loans and leases: | |||||
Individually evaluated | 0 | 0 | 0 | 0 | |
Collectively evaluated | 7,374 | 5,834 | 7,374 | 5,834 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||||
Individually evaluated | 0 | 0 | 0 | 0 | |
Collectively evaluated | 405,968 | 362,234 | 405,968 | 362,234 | |
Loans held for investment, net | $ 405,968 | 362,234 | $ 405,968 | 362,234 | $ 320,255 |
Consumer | Cumulative Effect of Change in Accounting Principle - CECL | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, end of period | $ (41) | $ (41) |
Loans and Leases - Collateral D
Loans and Leases - Collateral Dependent Loans Held for Investment (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | $ 51,221 | $ 76,522 |
Real Estate Mortgage | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 28,195 | 43,656 |
Real Estate Construction and Land | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 19,364 | 1,766 |
Consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 3,662 | 31,100 |
Real Estate Properties [Domain] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 47,559 | 45,422 |
Real Estate Properties [Domain] | Real Estate Mortgage | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 28,195 | 43,656 |
Real Estate Properties [Domain] | Real Estate Construction and Land | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 19,364 | 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 | 3,662 | 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 | $ 3,662 | $ 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 | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Jan. 01, 2020 | |
Receivables [Abstract] | |||||
Balance, beginning of period | $ 225,600 | $ 301,050 | $ 348,181 | $ 138,785 | |
Reserve for Unfunded Loan Commitments, Balance, beginning of period | 74,571 | 80,571 | 85,571 | 35,861 | |
Allowance for Credit Losses, Balance, beginning of period | 300,171 | 381,621 | 433,752 | 174,646 | |
Allowance for Loan and Lease Losses, Charge-offs | (1,516) | (37,284) | (6,320) | (73,275) | |
Reserve for Unfunded Loan Commitments, Charge-offs | 0 | 0 | 0 | 0 | |
Allowance for Credit Losses, Charge-offs | (1,516) | (37,284) | (6,320) | (73,275) | |
Allowance for Loan and Lease Loss, Recoveries | 1,149 | 1,200 | 8,372 | 4,839 | |
Reserve for Unfunded Loan Commitments, Recoveries | 0 | 0 | 0 | 0 | |
Allowance for Credit Losses, Recoveries | 1,149 | 1,200 | 8,372 | 4,839 | |
Net (charge-offs) recoveries | (367) | (36,084) | 2,052 | (68,436) | |
Reserve for Unfunded Loan Commitments, Net charge-offs | 0 | 0 | 0 | 0 | |
Allowance For Credit Losses, Net charge-offs | (367) | (36,084) | 2,052 | (68,436) | |
Provision | (21,500) | 81,000 | (146,500) | 272,000 | |
Reserve for Unfunded Commitments, Provision (negative provision) | 1,500 | (16,000) | (9,500) | 57,000 | |
Balance, end of period | 203,733 | 345,966 | 203,733 | 345,966 | |
Reserve for Unfunded Loan Commitments, Balance, end of period | 76,071 | 96,571 | 76,071 | 96,571 | |
Allowance for Credit Losses, Balance, end of period | 279,804 | 442,537 | 279,804 | 442,537 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Loans and Leases Receivable, Allowance | 203,733 | 345,966 | 203,733 | 345,966 | $ 142,402 |
Reserve for Unfunded Loan Commitments | 76,071 | 96,571 | 76,071 | 96,571 | 39,571 |
Allowance for credit losses | $ 279,804 | 442,537 | 279,804 | 442,537 | $ 181,973 |
Cumulative Effect of Change in Accounting Principle - CECL | |||||
Receivables [Abstract] | |||||
Balance, end of period | (3,617) | (3,617) | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Loans and Leases Receivable, Allowance | $ (3,617) | $ (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 | |||||
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 | |||||
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 |
Loans and Leases - Narrative (D
Loans and Leases - Narrative (Details) | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2021USD ($)contract | Sep. 30, 2020USD ($)contract | Sep. 30, 2021USD ($)contract | Sep. 30, 2020USD ($)contract | Jun. 30, 2021USD ($) | Dec. 31, 2020USD ($) | Jun. 30, 2020USD ($) | Jan. 01, 2020USD ($) | Dec. 31, 2019USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Nonaccrual loans and leases | $ 64,507,000 | $ 85,615,000 | $ 64,507,000 | $ 85,615,000 | $ 91,163,000 | ||||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | (21,900,000) | ||||||||
Provision | (21,500,000) | 81,000,000 | (146,500,000) | 272,000,000 | |||||
Gross loans and leases held for investment | 20,588,255,000 | 20,588,255,000 | 19,153,357,000 | ||||||
Loans and Leases Receivable, Allowance | 203,733,000 | 345,966,000 | 203,733,000 | 345,966,000 | $ 225,600,000 | 348,181,000 | $ 301,050,000 | $ 142,402,000 | $ 138,785,000 |
Real Estate Mortgage | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Nonaccrual loans and leases | 33,162,000 | 47,128,000 | 33,162,000 | 47,128,000 | 45,557,000 | ||||
Provision | (11,344,000) | (7,588,000) | (47,466,000) | 77,684,000 | |||||
Gross loans and leases held for investment | 9,590,037,000 | 9,590,037,000 | 7,905,193,000 | ||||||
Loans and Leases Receivable, Allowance | 96,203,000 | 121,694,000 | 96,203,000 | 121,694,000 | 107,013,000 | 138,342,000 | 130,724,000 | 49,883,000 | 44,575,000 |
Commercial | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Nonaccrual loans and leases | 10,932,000 | 37,759,000 | 10,932,000 | 37,759,000 | 44,902,000 | ||||
Provision | (9,792,000) | 64,921,000 | (77,373,000) | 121,804,000 | |||||
Gross loans and leases held for investment | 6,892,846,000 | 6,892,846,000 | 7,534,801,000 | ||||||
Loans and Leases Receivable, Allowance | 47,497,000 | $ 128,265,000 | 47,497,000 | $ 128,265,000 | $ 57,697,000 | 126,403,000 | $ 97,947,000 | $ 68,388,000 | $ 61,528,000 |
Residential Real Estate [Member] | Real Estate Mortgage | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Nonaccrual loans and leases | 7,547,000 | 7,547,000 | 1,826,000 | ||||||
Finance Receivable, Payroll Protection Program Loan [Member] | Commercial | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Gross loans and leases held for investment | 279,400,000 | 279,400,000 | |||||||
Credit Concentration Risk | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Nonaccrual loans and leases | 16,600,000 | $ 16,600,000 | |||||||
Credit Concentration Risk | Nonaccrual Loans And Leases Benchmark | Fair Value, Concentration of Risk, All Financial Instruments | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Percentage of nonaccrual loans and leases | 26.00% | ||||||||
Nonaccrual | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Receivable, 90 or more days past due | 30,700,000 | $ 30,700,000 | 36,500,000 | ||||||
Receivable, 30-89 days past due | 700,000 | 700,000 | 3,400,000 | ||||||
Financing receivable, nonaccrual status, current | $ 33,200,000 | $ 33,200,000 | 51,300,000 | ||||||
Other Commercial | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Number of Loans | contract | 2 | 2 | 1 | ||||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 95,000 | $ 95,000 | $ 5,000 | ||||||
Other Commercial | Commercial | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Nonaccrual loans and leases | 6,979,000 | 6,979,000 | 40,243,000 | ||||||
Venture Capital Loans | Commercial | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Nonaccrual loans and leases | $ 2,348,000 | $ 2,348,000 | 1,980,000 | ||||||
Asset-based | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Number of Loans | contract | 1 | 1 | |||||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 479,000 | $ 479,000 | |||||||
Asset-based | Commercial | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Nonaccrual loans and leases | $ 1,605,000 | $ 1,605,000 | $ 2,679,000 | ||||||
Real Estate Mortgage | |||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||
Number of Loans | contract | 1 | 1 | |||||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 412,000 | $ 412,000 |
Foreclosed Assets - Summary of
Foreclosed Assets - Summary of Foreclosed Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Total other real estate owned, net | $ 13,009 | $ 13,198 |
Other foreclosed assets | 355 | 829 |
Foreclosed assets, net | 13,364 | 14,027 |
Commercial real estate | ||
Total other real estate owned, net | 12,594 | 12,979 |
Construction and land development | ||
Total other real estate owned, net | 0 | 219 |
Single Family | ||
Total other real estate owned, net | $ 415 | $ 0 |
Foreclosed Assets - Changes in
Foreclosed Assets - Changes in Foreclosed Assets (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Other Real Estate Owned Net Covered and NonCovered Including Foreclosed Assets [Abstract] | ||
Balance, beginning of period | $ 14,027 | |
Loans transferred to foreclosed assets | 1,062 | $ 14,370 |
Provision for losses | (14) | |
Reductions related to sales | (1,711) | |
Balance, end of period | $ 13,364 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2021USD ($) | |
Goodwill [Roll Forward] | |
Beginning balance | $ 1,078,670 |
Goodwill impairment | 125,448 |
Ending balance | $ 1,204,118 |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets - Rollforward of Goodwill (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Jun. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Finite-lived Intangible Assets [Roll Forward] | |||||
CDI and CRI Balance, beginning of period | $ 100,550 | $ 109,646 | $ 109,646 | $ 117,573 | |
CDI and CRI Balance, end of period | 100,550 | $ 100,550 | 109,646 | 100,550 | 109,646 |
Finite-lived Intangible Assets Acquired | 0 | 0 | 750 | 0 | |
Accumulated Amortization, beginning of period | (82,127) | (79,082) | (86,005) | (79,179) | |
Amortization expense | (2,890) | (2,889) | (3,751) | (8,858) | (11,581) |
Accumulated Amortization, end of period | (85,017) | $ (82,127) | (82,833) | (85,017) | (82,833) |
Net CDI and CRI, end of period | 15,533 | 26,813 | 15,533 | 26,813 | |
Finite Lived Intangible Assets Fully Amortized Portion | $ 0 | $ 0 | $ 9,846 | $ 7,927 |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Jun. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||||
Goodwill impairment | $ 0 | $ 0 | $ 0 | $ 0 | $ 1,470,000 |
Intangible asset amortization | 2,890 | $ 2,889 | $ 3,751 | 8,858 | $ 11,581 |
Aggregate amortization expense 2021 | 2,362 | 2,362 | |||
Aggregate amortization expense 2022 | 7,672 | 7,672 | |||
Aggregate amortization expense 2023 | 3,788 | 3,788 | |||
Aggregate amortization expense 2024 | $ 1,711 | $ 1,711 |
Goodwill and Other Intangible_6
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Finite-Lived Intangible Assets [Line Items] | ||
Aggregate amortization expense 2021 | $ 2,362 | |
Aggregate amortization expense 2022 | 7,672 | |
Aggregate amortization expense 2023 | 3,788 | |
Aggregate amortization expense 2024 | 1,711 | |
Finite-Lived Intangible Assets, Net | $ 15,533 | $ 26,813 |
Other Assets (Details)
Other Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | |
Other Assets [Abstract] | |||
Cash surrender value of BOLI | $ 202,725 | $ 203,031 | |
LIHTC investments | 279,608 | 213,034 | |
Operating lease ROU assets, net (1) | [1] | 124,926 | 119,787 |
Interest receivable | 109,855 | 101,596 | |
Taxes receivable | 16,898 | 59,565 | |
Equity investments without readily determinable fair values | 36,787 | 34,304 | |
SBIC Investments | 42,553 | 32,327 | |
Prepaid expenses | 28,512 | 22,999 | |
Equity warrants | [2] | 3,747 | 4,520 |
Equity investments with readily determinable fair values | 18,829 | 6,147 | |
Other receivables/assets | 106,039 | 63,016 | |
Other assets | $ 970,479 | $ 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 | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Lease, Cost [Abstract] | ||||
Operating Lease, Cost | $ 8,678 | $ 8,950 | $ 25,950 | $ 26,027 |
Variable Lease, Cost | 18 | 15 | 42 | 40 |
Short-term Lease, Cost | 357 | 117 | 1,042 | 312 |
Sublease Income | (1,114) | (1,081) | (3,297) | (3,100) |
Lease, Cost, Total | $ 7,939 | $ 8,001 | 23,737 | 23,279 |
Cash paid for amounts included in the measurement of lease liabilities: | ||||
Operating cash flows from operating leases | 27,386 | 25,198 | ||
ROU assets obtained in exchange for lease obligations: | ||||
Operating leases | $ 29,840 | $ 19,027 |
Leases - Supplemental Cash Flow
Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Leases [Abstract] | ||
Operating cash flows from operating leases | $ 27,386 | $ 25,198 |
Operating leases | $ 29,840 | $ 19,027 |
Leases - Supplemental Balance S
Leases - Supplemental Balance Sheet and Other Information (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Leases [Abstract] | ||
Finance Lease, Right-of-Use Asset | $ 124,926 | $ 119,787 |
Operating leases: | ||
Operating Lease, Liability | $ 144,259 | $ 139,501 |
Weighted average remaining lease term (in years) | 5 years 8 months 12 days | 5 years 9 months 18 days |
Weighted average discount rate | 2.27% | 2.54% |
Leases - Maturities of Operatin
Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Lessee, Operating Lease, Liability, Payment, Due [Abstract] | ||
2021 | $ 8,840 | |
2022 | 34,415 | |
2023 | 31,900 | |
2024 | 24,810 | |
2025 | 18,100 | |
Thereafter | 36,547 | |
Total operating lease liabilities | 154,612 | |
Less: Imputed interest | (10,353) | |
Present value of operating lease liabilities | $ 144,259 | $ 139,501 |
Leases Leases (Details 4)
Leases Leases (Details 4) $ in Thousands | Sep. 30, 2021USD ($) |
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract] | |
2021 | $ 10,678 |
2022 | 45,363 |
2023 | 36,169 |
2024 | 30,483 |
2025 | 23,114 |
Thereafter | 47,870 |
Total undiscounted cash flows | $ 193,677 |
Borrowings and Subordinated D_3
Borrowings and Subordinated Debentures - Summary of Borrowings and Debentures (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Debt Instrument [Line Items] | ||
Borrowings | $ 0 | $ 5,000 |
Rate | 0.00% | 0.00% |
Debt Issuance Costs, Gross | $ (5,500) | |
Subordinated Debt Trust V Due September 2033 | London Interbank Offered Rate (LIBOR) | ||
Debt Instrument [Line Items] | ||
Rate Index (Quarterly Reset) | 3.10% | |
Subordinated notes due May 2031 | ||
Debt Instrument [Line Items] | ||
Rate Index (Quarterly Reset) | 252.00% | |
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 | $ 0 | $ 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 | Sep. 30, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Rate | 0.00% | 0.00% |
Borrowings | $ 0 | $ 5,000 |
FHLB secured advances | Federal Home Loan Bank of San Francisco | ||
Debt Instrument [Line Items] | ||
Balance | $ 0 | $ 5,000 |
Rate | 0.00% | 0.00% |
2020 | Federal Home Loan Bank of San Francisco | ||
Debt Instrument [Line Items] | ||
Balance | $ 0 | $ 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% |
Borrowings and Subordinated D_5
Borrowings and Subordinated Debentures - Subordinated Debentures (Details) $ in Thousands, € in Millions | 9 Months Ended | |||||
Sep. 30, 2021USD ($) | Sep. 30, 2021EUR (€) | Dec. 31, 2020USD ($) | ||||
Subordinated Borrowing [Line Items] | ||||||
Subordinated Debentures, Gross | $ 936,146 | $ 543,275 | ||||
Subordinated debentures | $ 862,447 | $ 465,812 | ||||
Rate | 0.00% | 0.00% | 0.00% | |||
Trust Preferred Securities Two Thousand Six Series Three | ||||||
Subordinated Borrowing [Line Items] | ||||||
Denomination value | € | € 25.8 | |||||
Subordinated notes due May 2031 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Rate Index (Quarterly Reset) | 252.00% | |||||
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] | $ (73,699) | $ (77,463) | |||
Rate | 2.62% | [2] | 2.62% | [2] | 2.24% | |
Subordinated Debentures | Subordinated Debt Trust V Due September 2033 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 10,310 | $ 10,310 | ||||
Rate | 3.22% | [2] | 3.22% | [2] | 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 | 3.17% | [2] | 3.17% | [2] | 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 | 3.07% | [2] | 3.07% | [2] | 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 | 2.88% | [2] | 2.88% | [2] | 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 | 1.81% | [2] | 1.81% | [2] | 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 | 1.72% | [2] | 1.72% | [2] | 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 | 1.67% | [2] | 1.67% | [2] | 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 | 2.07% | [2] | 2.07% | [2] | 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 | 2.08% | [2] | 2.08% | [2] | 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 | 2.08% | [2] | 2.08% | [2] | 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 | 2.08% | [2] | 2.08% | [2] | 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 | [3] | $ 29,847 | $ 31,487 | |||
Rate | 1.50% | [2] | 1.50% | [2] | 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 | 2.08% | [2] | 2.08% | [2] | 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 | 2.08% | [2] | 2.08% | [2] | 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 | 2.08% | [2] | 2.08% | [2] | 2.16% | |
Date Issued | Jun. 13, 2007 | |||||
Maturity Date | Jul. 30, 2037 | |||||
Subordinated Debentures | Subordinated notes due May 2031 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 394,511 | [4] | $ 0 | |||
Rate | 3.25% | [2] | 3.25% | [2] | 0.00% | |
Date Issued | Apr. 30, 2021 | |||||
Maturity Date | May 1, 2031 | |||||
[1] | Amount represents the fair value adjustment on trust preferred securities assumed in acquisitions. | |||||
[2] | Rates do not include the effects of discounts and issuance costs. | |||||
[3] | Denomination is in Euros with a value of €25.8 million. | |||||
[4] | Net of unamortized issuance costs of $5.5 million. |
Borrowings and Subordinated D_6
Borrowings and Subordinated Debentures - Narrative (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 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 | 5,900,000,000 | |
Federal Home Loan Bank of San Francisco | FHLB secured advances | ||
Debt Instrument [Line Items] | ||
Borrowing capacity description | 3,600,000,000 | |
Current outstanding | 0 | 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 | Sep. 30, 2021 | Dec. 31, 2020 |
Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | $ 135,929 | $ 157,056 |
Derivative assets | 6,410 | 8,750 |
Interest rate contracts | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 87,927 | 59,867 |
Derivative assets | 952 | 1,028 |
Interest rate contracts | Liability | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 87,927 | 59,867 |
Derivative liabilities | 878 | 1,004 |
Foreign exchange contracts | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 28,463 | 73,108 |
Derivative assets | 1,711 | 3,202 |
Foreign exchange contracts | Liability | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 28,463 | 73,108 |
Derivative liabilities | 0 | 146 |
Interest rate and economic contracts | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 116,390 | 132,975 |
Derivative assets | 2,663 | 4,230 |
Interest rate and economic contracts | Liability | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 116,390 | 132,975 |
Derivative liabilities | 878 | 1,150 |
Equity warrant assets | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 19,539 | 24,081 |
Derivative assets | $ 3,747 | $ 4,520 |
Commitments and Contingencies -
Commitments and Contingencies - Summary of Commitments (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Commitments and Contingencies Disclosure [Abstract] | ||
Loan commitments to extend credit | $ 8,480,599 | $ 7,601,390 |
Standby letters of credit | 344,383 | 337,336 |
Commitments to contribute capital to small business investment companies and CRA-related loan pools | 78,551 | 55,499 |
Total | $ 8,903,533 | $ 7,994,225 |
Commitments and Contingencies_2
Commitments and Contingencies - Years In Which Commitments are Expected to be Paid (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Other Commitments [Line Items] | ||
Commitments to contribute capital to small business investment companies and CRA-related loan pools | $ 78,551 | $ 55,499 |
2020 | ||
Other Commitments [Line Items] | ||
Commitments to contribute capital to small business investment companies and CRA-related loan pools | 34,229 | |
2021 | ||
Other Commitments [Line Items] | ||
Commitments to contribute capital to small business investment companies and CRA-related loan pools | 35,112 | |
2023 | ||
Other Commitments [Line Items] | ||
Commitments to contribute capital to small business investment companies and CRA-related loan pools | 3,652 | |
2024 | ||
Other Commitments [Line Items] | ||
Commitments to contribute capital to small business investment companies and CRA-related loan pools | $ 5,558 |
Commitments and Contingencies_3
Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Jan. 01, 2020 | Dec. 31, 2019 |
Commitments and Contingencies Disclosure [Abstract] | |||||||
Commitment to contribute capital | $ 78,600 | $ 55,500 | |||||
Reserve for Unfunded Loan Commitments | $ 76,071 | $ 74,571 | $ 85,571 | $ 96,571 | $ 80,571 | $ 39,571 | $ 35,861 |
Fair Value Measurements - Narra
Fair Value Measurements - Narrative (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
SBIC Investments | $ 42,553,000 | $ 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 | $ (582,000) |
Fair Value Measurements - Asset
Fair Value Measurements - Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, FV-NI | $ 18,829 | $ 6,147 |
Derivative Liability | 878 | 1,150 |
Debt Securities, Available-for-sale | 9,276,926 | 5,235,591 |
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 collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 1,088,537 | 1,219,880 |
Private label collateralized mortgage obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 303,681 | 116,946 |
Collateralized loan obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 358,547 | 135,876 |
Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 1,989,929 | 1,531,617 |
Government agency and government-sponsored enterprise commercial mortgage-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 1,314,024 | 1,281,877 |
Asset-backed Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 132,997 | 166,546 |
SBA asset-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 32,017 | 41,627 |
Corporate debt securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 516,615 | 311,889 |
U.S. Treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 971,268 | 5,302 |
Private label commercial MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 388,318 | 82,957 |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity warrants | 3,747 | 4,520 |
Interest rate and economic contracts | 2,663 | 4,230 |
Debt Securities, Available-for-sale | 9,276,926 | |
Fair Value, Measurements, Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity warrants | 0 | 0 |
Interest rate and economic contracts | 0 | 0 |
Equity Securities, FV-NI | 18,829 | 6,147 |
Debt Securities, Available-for-sale | 971,268 | 5,302 |
Fair Value, Measurements, Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity warrants | 0 | 0 |
Interest rate and economic contracts | 2,663 | 4,230 |
Equity Securities, FV-NI | 0 | 0 |
Debt Securities, Available-for-sale | 8,283,508 | 5,199,917 |
Fair Value, Measurements, Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity warrants | 3,747 | 4,520 |
Interest rate and economic contracts | 0 | 0 |
Equity Securities, FV-NI | 0 | 0 |
Debt Securities, Available-for-sale | 22,150 | 30,372 |
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] | ||
Debt Securities, Available-for-sale | 2,180,993 | 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] | ||
Debt 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] | ||
Debt Securities, Available-for-sale | 2,180,993 | 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] | ||
Debt 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] | ||
Debt Securities, Available-for-sale | 1,088,537 | 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] | ||
Debt 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] | ||
Debt Securities, Available-for-sale | 1,088,537 | 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] | ||
Debt 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] | ||
Debt Securities, Available-for-sale | 303,681 | 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] | ||
Debt 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] | ||
Debt Securities, Available-for-sale | 299,860 | 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] | ||
Debt Securities, Available-for-sale | 3,821 | 4,647 |
Fair Value, Measurements, Recurring | Collateralized loan obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 358,547 | 135,876 |
Fair Value, Measurements, Recurring | Collateralized loan obligations | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt 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] | ||
Debt Securities, Available-for-sale | 358,547 | 135,876 |
Fair Value, Measurements, Recurring | Collateralized loan obligations | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt 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] | ||
Debt Securities, Available-for-sale | 1,989,929 | 1,531,617 |
Fair Value, Measurements, Recurring | Municipal securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt 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] | ||
Debt Securities, Available-for-sale | 1,989,929 | 1,531,617 |
Fair Value, Measurements, Recurring | Municipal securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt 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] | ||
Debt Securities, Available-for-sale | 1,314,024 | 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] | ||
Debt 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] | ||
Debt Securities, Available-for-sale | 1,314,024 | 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] | ||
Debt 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] | ||
Debt Securities, Available-for-sale | 132,997 | 166,546 |
Fair Value, Measurements, Recurring | Asset-backed Securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt 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] | ||
Debt Securities, Available-for-sale | 132,997 | 166,546 |
Fair Value, Measurements, Recurring | Asset-backed Securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | SBA asset-backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 32,017 | 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] | ||
Debt 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] | ||
Debt Securities, Available-for-sale | 32,017 | 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] | ||
Debt 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] | ||
Debt Securities, Available-for-sale | 516,615 | 311,889 |
Fair Value, Measurements, Recurring | Corporate debt securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt 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] | ||
Debt Securities, Available-for-sale | 516,615 | 311,889 |
Fair Value, Measurements, Recurring | Corporate debt securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt 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] | ||
Debt Securities, Available-for-sale | 971,268 | 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] | ||
Debt Securities, Available-for-sale | 971,268 | 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] | ||
Debt 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] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Private label commercial MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 388,318 | 82,957 |
Fair Value, Measurements, Recurring | Private label commercial MBS | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Private label commercial MBS | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 369,989 | 57,232 |
Fair Value, Measurements, Recurring | Private label commercial MBS | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | $ 18,329 | $ 25,725 |
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 | 9 Months Ended | |
Sep. 30, 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 | 0.040 | |
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 | 0.313 | |
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 | 0.125 | [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 | 0.119 | [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 | 0.001 | [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 | 0.120 | [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 | 0.165 | [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 | 0.821 | [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 | 0.565 | [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 | |
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 | 0.105 | |
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 | 0.033 | |
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 | 0.067 | [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 | 0.029 | [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 private label commercial MBS 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 private label commercial MBS. |
Fair Value Measurements - Qua_2
Fair Value Measurements - Quantitative Inputs and Assumptions Used for Equity Warrants (Details) - Warrant - Fair Value, Measurements, Recurring - Level 3 | 9 Months Ended | |
Sep. 30, 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 26 days | |
Measurement Input, Price Volatility | Weighted Average | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Volatility | 0.294 | [1] |
Measurement Input, Price Volatility | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Volatility | 0.197 | |
Measurement Input, Price Volatility | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Volatility | 1.459 | |
Measurement Input, Risk Free Interest Rate | Weighted Average | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Volatility | 0.005 | [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 | 0.010 | |
[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 | 9 Months Ended | |||
Sep. 30, 2021 | Jun. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Level 3 CMO [Roll Forward] | |||||
Unrealized net holding gains (losses) on securities available-for-sale arising during the period | $ (63,956,000) | $ 54,076,000 | $ 19,745,000 | $ (101,403,000) | $ 119,708,000 |
Discounted Cash Flow | |||||
Level 3 CMO [Roll Forward] | |||||
Financing Receivable, before Allowance for Credit Loss, Average Yield | 6.21% | ||||
Level 3 | |||||
Level 3 CMO [Roll Forward] | |||||
Equity warrants, Balance, beginning of period | $ 4,520,000 | ||||
Total included in earnings, Equity Warrants | 25,351,000 | ||||
Total included in other comprehensive income | 0 | ||||
Stock and Warrants Issued During Period, Value, Preferred Stock and Warrants | 267,000 | ||||
Sales, Equity Warrants | (25,809,000) | ||||
Net settlements, Equity Warrants | 0 | ||||
Fair Value, Equity, Transfers to Level 1, Amount | (582,000) | ||||
Fair Value, Measurements, Recurring | |||||
Level 3 CMO [Roll Forward] | |||||
Equity warrants, Balance, beginning of period | 4,520,000 | ||||
Equity warrants, Balance, end of period | 3,747,000 | 3,747,000 | |||
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 | 3,747,000 | 3,747,000 | |||
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 | 263,000 | ||||
Total included in other comprehensive income | (270,000) | ||||
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 | (819,000) | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 3,821,000 | 3,821,000 | |||
Unrealized net holding gains (losses) on securities available-for-sale arising during the period | 823,000 | ||||
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 | (64,000) | ||||
Total included in other comprehensive income | (20,000) | ||||
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 | (7,312,000) | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | $ 18,329,000 | 18,329,000 | |||
Unrealized net holding gains (losses) on securities available-for-sale arising during the period | 136,000 | ||||
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 | $ 582,000 |
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 | Sep. 30, 2021 | Dec. 31, 2020 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets | $ 32,765 | $ 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 | 654 | 4,160 | ||
Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets | 32,111 | 98,114 | ||
Non Purchased Credit Impaired Loans and Leases | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Assets | 32,765 | [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 | 654 | [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 | $ 32,111 | [1] | $ 98,114 | [2] |
[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 | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total losses | $ 243 | $ 29,204 | $ 2,513 | $ 41,187 |
Non Purchased Credit Impaired Loans and Leases | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total losses | 243 | 29,047 | 2,499 | 40,920 |
Other real estate and foreclosed assets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total losses | $ 0 | $ 157 | $ 14 | $ 267 |
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 | 9 Months Ended | |||
Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 32,765 | $ 102,274 | ||
Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 32,111 | 98,114 | ||
Level 2 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 654 | 4,160 | ||
Non Purchased Credit Impaired Loans and Leases | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 32,765 | [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 | 32,111 | [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 | 654 | [1] | $ 4,160 | [2] |
Discount Rates | Discounted Cash Flow | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | 26,278 | |||
No Discounts | Third party appraisals | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair Value | $ 5,833 | |||
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 | |||
[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 | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and due from banks | $ 174,585 | $ 150,464 | ||
Interest-earning deposits in financial institutions | 3,524,613 | 3,010,197 | ||
Securities available-for-sale, Carrying Amount | 9,276,926 | |||
Investment in FHLB stock, Carrying Amount | 17,250 | 17,250 | ||
Investment in FHLB stock, Fair Value | 17,250 | 17,250 | ||
Loans and leases, net | [1] | 20,307,287 | 18,735,196 | |
Loans and leases held for investment, net | 20,904,189 | |||
Warrants and Rights Outstanding | 4,520 | |||
Other derivative assets, Carrying Amount | 2,663 | 4,230 | $ 3,747 | |
Equity Securities, FV-NI | 18,829 | 6,147 | ||
Servicing rights | 1,636 | |||
Demand, interest checking, money market, and savings deposits | 28,140,708 | 22,264,480 | ||
Interest-bearing Domestic Deposit, Brokered | 960,438 | 1,149,467 | ||
Time deposits | 1,458,599 | 1,526,770 | ||
Time deposits | 1,459,457 | 1,527,639 | ||
Borrowings | 0 | 5,000 | ||
Borrowings | 0 | 4,995 | ||
Subordinated debentures | 862,447 | 465,812 | ||
Subordinated Debt Obligations, Fair Value Disclosure | 923,374 | 448,036 | ||
Derivative Liability | 878 | 1,150 | ||
Level 1 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and due from banks | 174,585 | 150,464 | ||
Interest-earning deposits in financial institutions | 3,524,613 | 3,010,197 | ||
Investment in FHLB stock, Fair Value | 0 | 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 | ||
Demand, interest checking, money market, and savings deposits | 28,140,708 | 22,264,480 | ||
Interest-bearing Domestic Deposit, Brokered | 960,438 | 1,149,467 | ||
Time deposits | 1,459,457 | 1,527,639 | ||
Borrowings | 0 | 4,995 | ||
Subordinated Debt Obligations, Fair Value Disclosure | 923,374 | 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 and leases held for investment, net | 20,903,535 | |||
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 | 3,747 | 4,520 | ||
Other derivative assets, Fair Value | 2,663 | 4,230 | ||
Derivative liabilities | 878 | 1,150 | ||
Fair Value, Measurements, Recurring | Level 1 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Equity warrants | 0 | 0 | ||
Other derivative assets, Fair Value | 0 | 0 | ||
Equity Securities, FV-NI | 18,829 | 6,147 | ||
Servicing rights | 0 | |||
Derivative liabilities | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 2 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Equity warrants | 0 | 0 | ||
Other derivative assets, Fair Value | 2,663 | 4,230 | ||
Equity Securities, FV-NI | 0 | 0 | ||
Servicing rights | 0 | |||
Derivative liabilities | 878 | 1,150 | ||
Fair Value, Measurements, Recurring | Level 3 | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Equity warrants | 3,747 | 4,520 | ||
Other derivative assets, Fair Value | 0 | 0 | ||
Equity Securities, FV-NI | 0 | 0 | ||
Servicing rights | 1,636 | |||
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 | $ 654 | 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 $75.7 million and $79.7 million at September 30, 2021 and December 31, 2020, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets. |
Earnings (Loss) Per Share (Deta
Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2021 | Jun. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |||
Earnings Per Share [Abstract] | |||||||
Net earnings from continuing operations | $ 139,996 | $ 45,503 | $ 470,914 | $ (1,354,404) | |||
Less: Earnings allocated to unvested restricted stock | (2,417) | [1] | (578) | [1] | (7,930) | (1,603) | |
Net earnings allocated to common shares | $ 137,579 | $ 44,925 | $ 462,984 | $ (1,356,007) | |||
Weighted-average basic shares and unvested restricted stock outstanding (shares) | 119,569 | 118,438 | 119,272 | 118,469 | |||
Weighted-average unvested restricted stock outstanding (shares) | (2,340) | (1,684) | (2,235) | (1,596) | |||
Weighted-average basic shares outstanding (shares) | 117,229 | 116,754 | 117,037 | 116,873 | |||
Basic net income per share (usd per share) | $ 1.17 | $ 1.52 | $ 0.38 | $ 3.96 | $ (11.60) | ||
Net earnings from continuing operations allocated to common shares | $ 137,579 | $ 44,925 | $ 462,984 | $ (1,356,007) | |||
Diluted net income per share (usd per share) | $ 1.17 | $ 1.52 | $ 0.38 | $ 3.96 | $ (11.60) | ||
[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 | 9 Months Ended | |||
Sep. 30, 2021 | Jun. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Disaggregation of Revenue [Line Items] | |||||
Total interest income | $ 290,082 | $ 280,505 | $ 265,908 | $ 843,924 | $ 831,315 |
Service charges on deposit accounts | 3,407 | 3,452 | 2,570 | 9,793 | 7,232 |
Other commissions and fees | 11,792 | 10,704 | 10,541 | 31,654 | 30,373 |
Leased equipment income | 10,943 | 10,847 | 9,900 | 33,144 | 34,188 |
Gain on sale of loans and leases | 0 | 1,422 | 35 | 1,561 | 468 |
Gain on sale of securities | 515 | 0 | 5,270 | 616 | 13,167 |
Other income | 24,688 | 13,946 | 9,936 | 59,777 | 20,782 |
Total noninterest income | 51,345 | $ 40,371 | 38,252 | 136,545 | 106,210 |
Revenues | 341,427 | 304,160 | 980,469 | 937,525 | |
Service charges on deposit accounts | 6,073 | 6,087 | 18,493 | 18,581 | |
Interest Income | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues | 843,924 | 831,315 | |||
Service charges on deposit accounts | 0 | 0 | 0 | 0 | |
Service charges on deposit accounts | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues | 9,793 | 7,232 | |||
Service charges on deposit accounts | 3,407 | 2,570 | 9,793 | 7,232 | |
Other commissions and fees | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues | 31,654 | 30,373 | |||
Service charges on deposit accounts | 2,680 | 3,228 | 8,140 | 10,388 | |
Leased equipment income | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues | 33,144 | 34,188 | |||
Service charges on deposit accounts | 0 | 0 | 0 | 0 | |
Gain on sale of loans | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues | 1,561 | 468 | |||
Service charges on deposit accounts | 0 | 0 | 0 | 0 | |
Gain on sale of securities | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues | 616 | 13,167 | |||
Service charges on deposit accounts | 0 | 0 | 0 | 0 | |
Other income | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues | 59,777 | 20,782 | |||
Service charges on deposit accounts | (14) | 289 | 560 | 961 | |
Noninterest Income | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues | 136,545 | 106,210 | |||
Service charges on deposit accounts | $ 6,073 | $ 6,087 | $ 18,493 | $ 18,581 |
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 | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenue From Contracts With Customers [Abstract] | ||||
Products and services transferred at a point in time | $ 2,754 | $ 3,189 | $ 8,819 | $ 10,152 |
Products and services transferred over time | 3,319 | 2,898 | 9,674 | 8,429 |
Total revenue from contracts with customers | $ 6,073 | $ 6,087 | $ 18,493 | $ 18,581 |
Revenue From Contracts With C_5
Revenue From Contracts With Customers - Contract Balances (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Revenue From Contracts With Customers [Abstract] | ||
Receivables, which are included in "Other assets" | $ 1,219 | $ 1,046 |
Contract assets, which are included in "Other assets" | 0 | 0 |
Contract liabilities, which are included in "Accrued interest payable and other liabilities" | $ 261 | $ 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 | $ 98,000 |
Stock-Based Compensation - Narr
Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Restricted Stock Amortization | $ 8,400 | $ 7,100 | $ 23,000 | $ 19,200 | |
Unvested restricted shares (shares) | 2,321,753 | 2,321,753 | 1,608,126 | ||
Vesting period of time-based restricted stock, lower limit | 3 years | ||||
Maximum | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period of time-based restricted stock, higher limit | 4 years | ||||
Performance Shares | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Unvested restricted shares (shares) | 512,863 | 512,863 | |||
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 | 4,000,000 | |||
Number of shares available for grant (shares) | 3,027,093 | 3,027,093 | |||
Unrecognized share based compensation expense | $ 76,500 | $ 76,500 | |||
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) | 2,321,753 | 2,321,753 | |||
PacWest 2017 Amended Stock Incentive Plan | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares authorized (shares) | 2,650,000 | 2,650,000 | |||
PacWest 2017 Revised Stock Incentive Plan | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares authorized (shares) | 6,650,000 | 6,650,000 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) | Nov. 01, 2021 | Apr. 30, 2021 | Apr. 01, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Oct. 08, 2021 | Feb. 01, 2021 | Dec. 31, 2020 |
Subsequent Event [Line Items] | ||||||||||||
Dividends declared per share (usd per share) | $ 0.25 | $ 0.25 | $ 0.25 | $ 0.25 | $ 0.25 | $ 0.60 | ||||||
Assets | $ 35,885,676,000 | $ 29,498,442,000 | ||||||||||
Goodwill | $ 1,204,118,000 | $ 1,078,670,000 | ||||||||||
April 30, 2021 Issuance | ||||||||||||
Subsequent Event [Line Items] | ||||||||||||
Subordinated Debt | $ 400,000,000 | |||||||||||
Subordinated Borrowing, Interest Rate | 3.25% | |||||||||||
HOASD | ||||||||||||
Subsequent Event [Line Items] | ||||||||||||
Deposit Premium on Acquisition | 5.90% | |||||||||||
Business Combination, Consideration Transferred | $ 255,000,000 | |||||||||||
Business Combination, Deposits Acquired | $ 4,100,000,000 | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | $ 6,400,000 | |||||||||||
Civic | ||||||||||||
Subsequent Event [Line Items] | ||||||||||||
Assets | $ 307,997,000 | |||||||||||
Goodwill | $ 125,448,000 | |||||||||||
Subsequent Event | Dividend Declared | ||||||||||||
Subsequent Event [Line Items] | ||||||||||||
Dividends declared per share (usd per share) | $ 0.25 |