Cover Page
Cover Page - shares | 6 Months Ended | |
Jun. 30, 2023 | Jul. 27, 2023 | |
Entity Listings [Line Items] | ||
Document Type | 10-Q | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2023 | |
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 | |
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 | 2023 | |
Document Fiscal Period Focus | Q2 | |
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 | 118,542,777 | |
Common Stock | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | Common Stock, par value $0.01 per share | |
Trading Symbol | PACW | |
Security Exchange Name | NASDAQ | |
Preferred Class A | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | perpetual preferred stock, Series A | |
Trading Symbol | PACWP | |
Security Exchange Name | NASDAQ |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | |||
ASSETS: | |||||
Cash and due from banks | $ 208,300 | $ 212,273 | |||
Interest-earning deposits in financial institutions | 6,489,847 | 2,027,949 | |||
Total cash, cash equivalents, and restricted cash | 6,698,147 | 2,240,222 | |||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 4,708,519 | 4,843,487 | |||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss | 2,278,202 | [1] | 2,269,135 | [2] | |
Federal Home Loan Bank stock, at cost | 17,250 | 34,290 | |||
Total investment securities | 7,003,971 | 7,146,912 | |||
Loans Receivable Held-for-sale, Amount | 478,146 | 65,076 | |||
Gross loans and leases held for investment | 22,311,292 | 28,726,016 | |||
Deferred fees, net | (53,082) | (116,887) | |||
Allowance for loan and lease losses | (219,234) | (200,732) | |||
Total loans and leases held for investment, net | [3] | 22,038,976 | 28,408,397 | ||
Equipment leased to others under operating leases | 380,022 | 404,245 | |||
Premises and equipment, net | 57,078 | 54,315 | |||
Foreclosed assets, net | 8,426 | 5,022 | |||
Goodwill | 0 | 1,376,736 | |||
Core deposit and customer relationship intangibles, net | 26,581 | 31,381 | |||
Deferred Tax Assets, Tax Deferred Expense | 426,304 | 281,848 | |||
Other assets | 1,219,599 | 1,214,782 | |||
Total assets | 38,337,250 | 41,228,936 | |||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||
Noninterest-bearing deposits | 6,055,358 | 11,212,357 | |||
Interest-bearing deposits | 21,841,725 | 22,723,977 | |||
Total deposits | 27,897,083 | 33,936,334 | |||
Borrowings (including $123,065 at fair value) | 6,357,338 | 1,764,030 | |||
Subordinated debt | 870,378 | 867,087 | |||
Accrued interest payable and other liabilities | 679,256 | 710,954 | |||
Total liabilities | 35,804,055 | 37,278,405 | |||
Commitments and contingencies | |||||
Preferred stock par value (usd per share) | $ 0.01 | $ 0.01 | |||
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 | |||
Preferred stock issued (shares) | 513,250 | 513,250 | |||
Preferred stock outstanding (shares) | 513,250 | 513,250 | |||
Preferred Stock $0.01 par value; 5,000,000 shares authorized; 513,250 Series A shares, $1,000 per share liquidation preference, issued and outstanding at June 30, 2023 and December 31, 2022 | $ 498,516 | $ 498,516 | |||
Common stock ($0.01 par value, 200,000,000 shares authorized at June 30, 2023 and December 31, 2022; 123,000,557 and 123,000,557 shares issued, respectively, including 3,082,495 and 2,778,500 shares of unvested restricted stock, respectively) | 1,233 | 1,230 | |||
Additional paid-in capital | 2,911,268 | 2,927,903 | |||
Retained earnings | $ 7,892 | $ 1,420,624 | |||
Treasury Stock, Shares 3,082,495 and 2,778,500 shares at June 30, 2023 and December 31, 2022) | 3,082,495 | 2,778,500 | |||
Treasury stock, at cost | $ (111,911) | $ (106,839) | |||
Accumulated other comprehensive (loss) income, net | (773,803) | (790,903) | |||
Total stockholders' equity | 2,533,195 | 3,950,531 | |||
Total liabilities and stockholders' equity | $ 38,337,250 | $ 41,228,936 | |||
Preferred Stock, Liquidation Preference Per Share | $ 1,000 | $ 1,000 | |||
[1]Excludes accrued interest receivable of $13.4 million at June 30, 2023 which is recorded in "Other assets" on the condensed consolidated balance sheets[2]Excludes accrued interest receivable of $13.5 million at December 31, 2022 which is recorded in "Other assets" on the condensed consolidated balance sheets[3]Excludes accrued interest receivable of $103.8 million and $124.3 million at June 30, 2023 and December 31, 2022, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets. |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Earnings - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Interest income: | ||||
Loans and leases | $ 408,972 | $ 293,286 | $ 839,657 | $ 561,045 |
Investment securities | 44,153 | 52,902 | 88,390 | 106,324 |
Deposits in financial institutions | 86,763 | 4,330 | 129,629 | 6,053 |
Total interest income | 539,888 | 350,518 | 1,057,676 | 673,422 |
Interest expense: | ||||
Deposits | 178,789 | 15,362 | 334,681 | 21,570 |
Borrowings | 160,914 | 2,441 | 230,036 | 2,602 |
Subordinated debt | 14,109 | 8,790 | 27,611 | 16,608 |
Total interest expense | 353,812 | 26,593 | 592,328 | 40,780 |
Net interest income | 186,076 | 323,925 | 465,348 | 632,642 |
Provision for credit losses | 2,000 | 11,500 | 5,000 | 11,500 |
Net interest income after provision for credit losses | 184,076 | 312,425 | 460,348 | 621,142 |
Noninterest income: | ||||
Leased equipment income | 22,387 | 12,335 | 36,244 | 25,429 |
Other commissions and fees | 11,241 | 10,813 | 21,585 | 22,393 |
Service charges on deposit accounts | 4,315 | 3,634 | 7,888 | 7,205 |
(Loss) gain on sale of loans and leases | (158,881) | 12 | (155,919) | 72 |
Loss on sale of securities | 0 | (1,209) | 0 | (1,105) |
Dividends and gains (losses) on equity investments | 2,658 | 4,097 | 3,756 | (7,278) |
Warrant (loss) income | (124) | 1,615 | (457) | 2,244 |
LOCOM HFS Adjustment | (11,943) | 0 | (11,943) | 0 |
Other income | 2,265 | 3,049 | 7,155 | 6,204 |
Total noninterest (loss) income | (128,082) | 34,346 | (91,691) | 55,164 |
Noninterest expense: | ||||
Compensation | 82,881 | 102,542 | 171,357 | 194,782 |
Occupancy | 15,383 | 15,268 | 30,450 | 30,468 |
Leased equipment depreciation | 9,088 | 8,934 | 18,463 | 18,123 |
Data processing | 10,963 | 9,258 | 21,901 | 18,887 |
Other professional services | 9,973 | 6,726 | 16,046 | 12,680 |
Insurance and assessments | 25,635 | 5,632 | 37,352 | 11,122 |
Customer related expense | 27,302 | 11,748 | 51,307 | 24,403 |
Loan expense | 5,245 | 7,037 | 11,769 | 12,194 |
Intangible asset amortization | 2,389 | 3,649 | 4,800 | 7,298 |
Acquisition, integration and reorganization costs | 12,394 | 0 | 20,908 | 0 |
Goodwill impairment | 0 | 0 | 1,376,736 | 0 |
Foreclosed assets expense (income), net | 2 | (28) | 365 | (3,381) |
Other expense | 119,182 | 12,879 | 131,986 | 24,495 |
Total noninterest expense | 320,437 | 183,645 | 1,893,440 | 351,071 |
(Loss) earnings before income taxes | (264,443) | 163,126 | (1,524,783) | 325,235 |
Income tax (benefit) expense | 67,029 | (40,766) | 131,945 | (82,747) |
Net (loss) earnings | (197,414) | 122,360 | (1,392,838) | 242,488 |
Preferred Stock Dividends, Income Statement Impact | 9,947 | 0 | 19,894 | 0 |
Net Income (Loss) Available to Common Stockholders, Diluted | (207,361) | 122,360 | (1,412,732) | 242,488 |
Net Income (Loss) Available to Common Stockholders, Basic | $ (207,361) | $ 122,360 | $ (1,412,732) | $ 242,488 |
(Loss) earnings per common share: | ||||
Basic (usd per share) | $ (1.75) | $ 1.02 | $ (11.96) | $ 2.03 |
Diluted (usd per share) | $ (1.75) | $ 1.02 | $ (11.96) | $ 2.03 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | ||
Statement of Comprehensive Income [Abstract] | |||||
Net loss | $ (197,414) | $ 122,360 | $ (1,392,838) | $ 242,488 | |
Other comprehensive (loss) income, net of tax: | |||||
Unrealized net holding gains (losses) on securities available-for-sale arising during the period | (64,145) | (72,572) | 3,826 | (682,398) | |
Income tax (expense) benefit related to unrealized holding gains (losses) arising during the period | 17,768 | 19,928 | (1,060) | 187,386 | |
Unrealized net holding gains (losses) on securities available-for-sale, net of tax | (46,377) | (52,644) | 2,766 | (495,012) | |
Reclassification adjustment for net (gains) losses included in net earnings | [1] | 0 | 1,209 | 0 | 1,105 |
Income tax expense (benefit) related to reclassification adjustment | 0 | (332) | 0 | (303) | |
Reclassification adjustment for net (gains) losses included in net earnings, net of tax | 0 | 877 | 0 | 802 | |
Amortization of Unrealized Net Loss on Securities Transferred From Available-For-Sale to Held-to-Maturity, net of tax | 0 | (218,326) | 0 | (218,326) | |
OCI, Debt Securities, Available-for-Sale, Transfer to Held-to-Maturity, Adjustment from AOCI for Amortization of Gain (Loss), before Tax1 | (7,877) | (2,507) | (15,761) | (2,507) | |
Debt Securities, Held-to-maturity, Transfer, Unrealized Gain (Loss) | (2,182) | (689) | (4,366) | (689) | |
Amortization of Unrealized Net Loss on Securities Transferred From Available-For-Sale to Held-to-Maturity, net of tax | 5,695 | 1,818 | 11,395 | 1,818 | |
Change In Fair Value of Credit-linked Notes | 4,057 | 0 | 4,057 | 0 | |
Income Tax Expense Related to Change In Fair Value of Credit-linked Notes | (1,118) | 0 | (1,118) | 0 | |
Change In Fair Value of Credit-linked Notes, Net of Tax | 2,939 | 0 | 2,939 | 0 | |
Other comprehensive (loss) income, net of tax | (37,743) | (268,275) | 17,100 | (710,718) | |
Comprehensive loss | $ (235,157) | $ (145,915) | $ (1,375,738) | $ (468,230) | |
[1] Entire amounts are recognized in "Gain (loss) on sale of securities" on the Condensed Consolidated Statements of Earnings. |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Treasury Stock, Common | Accumulated Other Comprehensive Income (Loss) | Preferred Stock |
Common stock dividends declared per share (usd per share) | $ 0.25 | ||||||
Beginning Period Balance at Dec. 31, 2021 | $ 3,999,630,000 | $ 1,221,000 | $ 3,013,399,000 | $ 1,016,350,000 | $ (97,308,000) | $ 65,968,000 | |
Shares outstanding, beginning balance (shares) at Dec. 31, 2021 | 119,584,854 | ||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||
Net loss | 120,128,000 | 120,128,000 | |||||
Other comprehensive loss, net of tax | (442,443,000) | (442,443,000) | |||||
Restricted stock awarded and earned compensation, net of shares forfeited (shares) | 109,466 | ||||||
Restricted stock awarded and earned stock compensation, net of shares forfeited | 7,557,000 | $ 1,000 | 7,556,000 | ||||
Restricted stock surrendered (shares) | (92,554) | ||||||
Restricted stock surrendered | (4,481,000) | (4,481,000) | |||||
Cash dividends paid | (29,796,000) | (29,796,000) | |||||
Shares outstanding, ending balance (shares) at Mar. 31, 2022 | 119,601,766 | ||||||
Ending Period Balance at Mar. 31, 2022 | 3,650,595,000 | $ 1,222,000 | 2,991,159,000 | 1,136,478,000 | (101,789,000) | (376,475,000) | |
Beginning Period Balance at Dec. 31, 2021 | 3,999,630,000 | $ 1,221,000 | 3,013,399,000 | 1,016,350,000 | (97,308,000) | 65,968,000 | |
Shares outstanding, beginning balance (shares) at Dec. 31, 2021 | 119,584,854 | ||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||
Net loss | 242,488,000 | ||||||
Shares outstanding, ending balance (shares) at Jun. 30, 2022 | 120,288,024 | ||||||
Ending Period Balance at Jun. 30, 2022 | $ 3,978,403,000 | $ 1,230,000 | 2,970,647,000 | 1,258,838,000 | (106,078,000) | (644,750,000) | $ 498,516,000 |
Common stock dividends declared per share (usd per share) | $ 0.25 | ||||||
Beginning Period Balance at Mar. 31, 2022 | $ 3,650,595,000 | $ 1,222,000 | 2,991,159,000 | 1,136,478,000 | (101,789,000) | (376,475,000) | |
Shares outstanding, beginning balance (shares) at Mar. 31, 2022 | 119,601,766 | ||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||
Net loss | 122,360,000 | 122,360,000 | |||||
Other comprehensive loss, net of tax | (268,275,000) | (268,275,000) | |||||
Net proceeds from subordinated notes offering | 498,516,000 | ||||||
Restricted stock awarded and earned compensation, net of shares forfeited (shares) | 822,258 | ||||||
Restricted stock awarded and earned stock compensation, net of shares forfeited | 9,698,000 | $ 8,000 | 9,690,000 | ||||
Restricted stock surrendered (shares) | (136,000) | ||||||
Restricted stock surrendered | (4,289,000) | (4,289,000) | |||||
Cash dividends paid | (30,202,000) | (30,202,000) | |||||
Shares outstanding, ending balance (shares) at Jun. 30, 2022 | 120,288,024 | ||||||
Ending Period Balance at Jun. 30, 2022 | $ 3,978,403,000 | $ 1,230,000 | 2,970,647,000 | 1,258,838,000 | (106,078,000) | (644,750,000) | 498,516,000 |
Preferred stock dividends declared per share (usd per share) | $ 0.48 | ||||||
Common stock dividends declared per share (usd per share) | $ 0.25 | ||||||
Beginning Period Balance at Dec. 31, 2022 | $ 3,950,531,000 | $ 1,230,000 | 2,927,903,000 | 1,420,624,000 | (106,839,000) | (790,903,000) | 498,516,000 |
Shares outstanding, beginning balance (shares) at Dec. 31, 2022 | 120,222,057 | ||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||
Net loss | (1,195,424,000) | (1,195,424,000) | |||||
Other comprehensive loss, net of tax | 54,843,000 | 54,843,000 | |||||
Restricted stock awarded and earned compensation, net of shares forfeited (shares) | 168,460 | ||||||
Restricted stock awarded and earned stock compensation, net of shares forfeited | 4,983,000 | $ 2,000 | 4,981,000 | ||||
Restricted stock surrendered (shares) | (146,303) | ||||||
Restricted stock surrendered | (4,053,000) | (4,053,000) | |||||
Dividends, Preferred Stock | (9,947,000) | ||||||
Cash dividends paid | (29,456,000) | (29,456,000) | |||||
Shares outstanding, ending balance (shares) at Mar. 31, 2023 | 120,244,214 | ||||||
Ending Period Balance at Mar. 31, 2023 | 2,771,477,000 | $ 1,232,000 | 2,903,428,000 | 215,253,000 | (110,892,000) | (736,060,000) | 498,516,000 |
Beginning Period Balance at Dec. 31, 2022 | 3,950,531,000 | $ 1,230,000 | 2,927,903,000 | 1,420,624,000 | (106,839,000) | (790,903,000) | 498,516,000 |
Shares outstanding, beginning balance (shares) at Dec. 31, 2022 | 120,222,057 | ||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||
Net loss | (1,392,838,000) | ||||||
Shares outstanding, ending balance (shares) at Jun. 30, 2023 | 120,169,012 | ||||||
Ending Period Balance at Jun. 30, 2023 | $ 2,533,195,000 | $ 1,233,000 | 2,911,268,000 | 7,892,000 | (111,911,000) | (773,803,000) | 498,516,000 |
Preferred stock dividends declared per share (usd per share) | $ 0.48 | ||||||
Common stock dividends declared per share (usd per share) | $ 0.01 | ||||||
Beginning Period Balance at Mar. 31, 2023 | $ 2,771,477,000 | $ 1,232,000 | 2,903,428,000 | 215,253,000 | (110,892,000) | (736,060,000) | 498,516,000 |
Shares outstanding, beginning balance (shares) at Mar. 31, 2023 | 120,244,214 | ||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||
Net loss | (197,414,000) | (197,414,000) | |||||
Other comprehensive loss, net of tax | (37,743,000) | (37,743,000) | |||||
Restricted stock awarded and earned compensation, net of shares forfeited (shares) | 82,490 | ||||||
Restricted stock awarded and earned stock compensation, net of shares forfeited | 8,934,000 | $ 1,000 | 8,933,000 | ||||
Restricted stock surrendered (shares) | (157,692) | ||||||
Restricted stock surrendered | (1,019,000) | (1,019,000) | |||||
Dividends, Preferred Stock | (9,947,000) | ||||||
Cash dividends paid | (1,093,000) | (1,093,000) | |||||
Shares outstanding, ending balance (shares) at Jun. 30, 2023 | 120,169,012 | ||||||
Ending Period Balance at Jun. 30, 2023 | $ 2,533,195,000 | $ 1,233,000 | $ 2,911,268,000 | $ 7,892,000 | $ (111,911,000) | $ (773,803,000) | $ 498,516,000 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | |
Cash flows from operating activities: | ||
Goodwill impairment | $ 1,376,736 | $ 0 |
Net (loss) earnings | (1,392,838) | 242,488 |
Depreciation and amortization | 27,622 | 26,946 |
Amortization of net premiums on investment securities | 19,281 | 29,742 |
Amortization of intangible assets | 4,800 | 7,298 |
Amortization of operating lease ROU assets | 14,580 | 15,100 |
Provision for credit losses | 5,000 | 11,500 |
Gain on sale of foreclosed assets | (210) | (3,170) |
Provision for losses on foreclosed assets | 685 | 0 |
Loss (gain) on sale of loans and leases | 155,919 | (72) |
Gain on sale of premises and equipment | (5) | (5) |
Loss on sale of securities | 0 | 1,105 |
Gain on BOLI death benefit | (416) | 0 |
Unrealized gain on derivatives, foreign currencies, and credit-linked notes, net | (1,682) | (1,330) |
LOCOM HFS Adjustment | 11,943 | 0 |
Earned stock compensation | 13,917 | 17,255 |
Business Combination, Integration Related Costs | 70 | 0 |
Increase in other assets | (181,990) | (24,626) |
Increase (decrease) in accrued interest payable and other liabilities | 30,548 | (50,662) |
Net cash provided by operating activities | 83,960 | 271,569 |
Cash flows from investing activities: | ||
Net decrease (increase) in loans and leases | 437,585 | (3,600,769) |
Proceeds from sales of loans and leases | 5,283,557 | 41,089 |
Proceeds from maturities and paydowns of securities available-for-sale | 131,475 | 417,760 |
Proceeds from sales of securities available-for-sale | 0 | 598,415 |
Purchases of securities available-for-sale | (5,836) | (374,921) |
Proceeds from maturities and paydowns of securities held-to-maturity | 568 | 82 |
Net redemptions (purchases) of Federal Home Loan Bank stock | 17,040 | (15,960) |
Proceeds from sales of foreclosed assets | 5,346 | 16,317 |
Purchases of premises and equipment, net | (9,245) | (10,423) |
Proceeds from sales of premises and equipment | 13 | 9 |
Proceeds from BOLI death benefit | 3,567 | 555 |
Net decrease (increase) in equipment leased to others under operating leases | 5,770 | (3,196) |
Net cash provided by (used in) investing activities | 5,869,840 | (2,931,042) |
Cash flows from financing activities: | ||
Net decrease in noninterest-bearing deposits | (5,156,999) | (1,205,104) |
Net (decrease) increase in interest-bearing deposits | (882,252) | 175,499 |
Proceeds from (Repayments of) Debt | 4,598,891 | 1,592,000 |
Net proceeds from preferred stock offering | 0 | 498,516 |
Restricted stock surrendered | (5,072) | (8,770) |
Preferred stock dividends paid | (19,894) | 0 |
Common stock dividends paid | (30,549) | (59,998) |
Net cash (used in) provided by financing activities | (1,495,875) | 992,143 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | 4,457,925 | (1,667,330) |
Cash, cash equivalents, and restricted cash, beginning of period | 2,240,222 | 4,057,234 |
Cash, cash equivalents, and restricted cash, end of period | 6,698,147 | 2,389,904 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 467,830 | 38,596 |
Cash paid for income taxes | 1,143 | 76,037 |
Loans transferred to foreclosed assets | 9,225 | 304 |
Transfer of Portfolio Loans and Leases to Held-for-sale | 3,076,427 | 0 |
Loan, Transfer from Held-for-Sale to Held-in-Portfolio | 370,375 | 0 |
Liabilities | 35,804,055 | |
Transfer of securities available-for-sale to held-to-maturity | $ 0 | $ 2,260,407 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Statement of Financial Position [Abstract] | ||
Other Borrowings, Fair Value Disclosure | $ 123,065 | $ 132,030 |
Preferred Stock, Liquidation Preference Per Share | $ 1,000 | $ 1,000 |
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 | 123,251,507 | 123,000,557 |
Unvested restricted shares (shares) | 1,626,235 | 2,405,878 |
Other Borrowings, Fair Value Disclosure | $ 123,065 | $ 132,030 |
Preferred stock outstanding (shares) | 513,250 | 513,250 |
Preferred stock par value (usd per share) | $ 0.01 | $ 0.01 |
Credit-Link Notes | ||
Statement of Financial Position [Abstract] | ||
Other Borrowings, Fair Value Disclosure | $ 123,065 | $ 132,030 |
Other Borrowings | 123,065 | 132,030 |
Other Borrowings, Fair Value Disclosure | $ 123,065 | $ 132,030 |
Organization
Organization | 6 Months Ended |
Jun. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization | ORGANIZATION PacWest Bancorp, a Delaware corporation, is a bank holding company registered under the BHCA and headquartered in Los Angeles, California, with an executive office in Denver, Colorado. Our principal business is to serve as the holding company for our wholly-owned subsidiary, Pacific Western Bank. References to "Pacific Western" or the "Bank" refer to Pacific Western Bank together with its wholly-owned subsidiaries. References to "we," "us," or the "Company" refer to PacWest Bancorp together with its subsidiaries on a consolidated basis. When we refer to "PacWest" or to the "holding company," we are referring to PacWest Bancorp, the parent company, on a stand-alone basis. The Bank is a relationship-based community bank focused on providing business banking and treasury management services to small, middle-market, and venture-backed businesses. The Bank offers a broad range of loan and lease and deposit products and services through full-service branches throughout California and in Durham, North Carolina and Denver, Colorado, and loan production offices around the country. We generate our revenue primarily from interest received on loans and leases and, to a lesser extent, from interest received on investment securities, and fees received in connection with deposit services, extending credit and other services offered, including treasury management and investment management services. Our major operating expenses are 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, 2022 as filed with the Securities and Exchange Commission ("Form 10-K"). Updates to our significant accounting policies described below reflect the impact of the adoption of ASU 2022-02, " Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures ("ASU 2022-02") ," specifically the amendment to troubled debt restructurings, and organizational changes which resulted in changes to our reportable operating segments. Loan Modifications to Borrowers Experiencing Financial Difficulty Loan modifications made to borrowers experiencing financial difficulty constitute modifications of receivables in the form of principal forgiveness, an interest rate reduction, an other than-insignificant payment delay, or a term extension. ASU 2022-02 eliminated the concept of troubled debt restructurings and introduced broader modification reporting requirements. Previously, troubled debt restructurings included any type of modification that included a below market concession which was granted both to a borrower in financial difficulty and as a result of financial difficulty. Loan modifications made to borrowers experiencing financial difficulty no longer consider whether a market concession has been granted, as was required with troubled debt restructurings, but rather includes as modifications within the four listed reportable modification types to a borrower deemed to be experiencing financial difficulty. An assessment of whether a borrower is experiencing financial difficulty is made on the date of the modification. Loans reported in this classification have a rating of substandard or worse, and may include both accruing and nonaccruing loans. Loans are assessed to determine whether the modification constitutes a new loan or a continuation of the existing loan. Depending on the terms of the modification and nature of the borrower, this may result in a downgrade or placing a loan on nonaccrual status, which in turn would impact the loan's classification within the ALLL. Because the effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses because of the measurement methodologies used to estimate the allowance, a change to the allowance for credit losses is generally not recorded upon modification. Business Segments We regularly assess our strategic plans, operations, reporting structures and financial information provided to management to identify our reportable segments. Civic, a lending subsidiary we acquired in February 2021, has historically been identified as an operating segment. In the fourth quarter of 2022, Civic met a quantitative threshold which required it to be disclosed as a reportable operating segment. Therefore, we had two reportable operating segments as of December 31, 2022: Commercial Banking and Civic, and a third segment, Other, which was used for inter-segment eliminations. In the first quarter of 2023, we began a restructuring of Civic which included removing most of Civic's top management and transferring day-to-day management of most of Civic's operating functions to managers at the Bank. Due to the restructuring of Civic, discrete financial information is no longer prepared. Our management reporting captures the direct expenses of Civic, however, none of the expenses now being incurred to manage Civic are being directly charged or allocated to Civic. Therefore, it is no longer feasible to produce meaningful, separate full financial statements, and thus, discrete financial information for Civic is no longer prepared or distributed to our chief operating decision maker. Thus, Civic no longer meets the criteria to be considered a reportable operating segment as of March 31, 2023. We sold the Civic business in the second quarter of 2023, and we are retaining and servicing the Civic loans on our balance sheet. At June 30, 2023 and March 31, 2023, we operated as one reportable segment - Commercial Banking. Accounting Standards Adopted in 2023 Effective January 1, 2023, we completed the adoption of ASU 2022-02, “Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures," by eliminating the accounting guidance for TDRs by creditors, in ASC 310-40, " Receivables – Troubled Debt Restructurings by Creditors," while enhancing disclosure requirements for restructurings involving borrowers that are experiencing financial difficulty. The Company updated its disclosures in Note 4. Loans and Leases to present information regarding loan modifications to borrowers experiencing financial difficulty. There was no transition adjustment recorded to retained earnings upon adoption. The adoption of this amendment did not have a material 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 combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments), the carrying value of intangible assets, the fair value of loans held for sale, 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 certain of our loan portfolio classes and subclasses to better reflect and report our lending. We made the following changes: (1) moved the "Multi-family" loan subclass from the residential real estate mortgage class into its own loan class; (2) moved the "Construction - renovation" loan subclass from the residential real estate construction and land loan class to the residential real estate mortgage class and renamed it "Residential renovation;" and (3) renamed the residential real estate mortgage loan class as "Other residential." All of the loan and allowance tables, both current period and prior periods, reflect these changes and realignment. Risks and Uncertainties The recent bank failures involving three prominent regional banks resulted in significant market volatility among publicly traded bank holding companies, and, in particular, regional banks like PacWest. These bank failures, and the resulting customer fear of additional bank failures, increased the following risks and uncertainties regarding our business: (i) the loss of customer deposits which, in turn, put pressure on our liquidity position, (ii) the decrease in our net interest margin resulting from replacing lower-cost customer deposits with higher-cost brokered deposits and borrowings, (iii) the downgrading of our credit rating by third-party rating agencies which may result in increased borrowing costs and/or trigger additional collateral or funding requirements, and (iv) the potential for operating costs to increase due to higher FDIC assessments and other costs necessary to respond to increased regulatory requirements. To respond to these increased risks and uncertainties, we have taken the following actions to mitigate these risks: (a) we pledged additional assets as collateral for borrowings to increase our liquidity position for potential deposit outflows, (b) we increased the number of customers enrolled in reciprocal deposit programs that increases the amount of FDIC insurance coverage on their account(s) to help retain these customers, (c) we are offering competitive promotional rates on our deposit products to attract new customer deposits, (d) we completed strategic asset sales in the second quarter of 2023 to improve our liquidity position and capital ratios, and (e) in the second quarter of 2023, we reduced our common dividend from $0.25 to $0.01 to improve our liquidity position and capital ratios. |
Risks and Uncertainties – Market Volatility | Risks and Uncertainties The recent bank failures involving three prominent regional banks resulted in significant market volatility among publicly traded bank holding companies, and, in particular, regional banks like PacWest. These bank failures, and the resulting customer fear of additional bank failures, increased the following risks and uncertainties regarding our business: (i) the loss of customer deposits which, in turn, put pressure on our liquidity position, (ii) the decrease in our net interest margin resulting from replacing lower-cost customer deposits with higher-cost brokered deposits and borrowings, (iii) the downgrading of our credit rating by third-party rating agencies which may result in increased borrowing costs and/or trigger additional collateral or funding requirements, and (iv) the potential for operating costs to increase due to higher FDIC assessments and other costs necessary to respond to increased regulatory requirements. To respond to these increased risks and uncertainties, we have taken the following actions to mitigate these risks: (a) we pledged additional assets as collateral for borrowings to increase our liquidity position for potential deposit outflows, (b) we increased the number of customers enrolled in reciprocal deposit programs that increases the amount of FDIC insurance coverage on their account(s) to help retain these customers, (c) we are offering competitive promotional rates on our deposit products to attract new customer deposits, (d) we completed strategic asset sales in the second quarter of 2023 to improve our liquidity position and capital ratios, and (e) in the second quarter of 2023, we reduced our common dividend from $0.25 to $0.01 to improve our liquidity position and capital ratios. |
Restricted Cash Balances
Restricted Cash Balances | 6 Months Ended |
Jun. 30, 2023 | |
Restricted Cash [Abstract] | |
Restricted Cash Balances | RESTRICTED CASH The FRBSF establishes cash reserve requirements that its member banks must maintain based on a percentage of deposit liabilities. There were no reserves required to be held at the FRBSF for the six months ended June 30, 2023. As of June 30, 2023 and December 31, 2022, we pledged cash collateral for our derivative contracts of $3.5 million and $2.7 million. We have cash which is restricted based on the terms of some of our borrowing agreements that totaled $148.3 million at June 30, 2023 and $131.5 million at December 31, 2022. Starting in the second quarter of 2023, we instituted a policy to require cash to secure the standby letters of credit that we have issued on behalf of our customers. At June 30, 2023, the balance of such restricted cash totaled $55.3 million. |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | INVESTMENT SECURITIES Transfer of Securities Available-for-Sale to Held-to Maturity Effective June 1, 2022, the Company transferred $2.3 billion in fair value of municipal securities, agency commercial MBS, private label commercial MBS, U.S. Treasury securities, and corporate debt securities from available-for-sale to held-to-maturity. At the time of transfer, $218.3 million of unrealized losses, net of tax, was retained in "Accumulated other comprehensive income (loss)" on the condensed consolidated balance sheets. 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: June 30, 2023 December 31, 2022 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 $ 2,592,344 $ — $ (423,731) $ 2,168,613 $ 2,685,038 $ — $ (442,996) $ 2,242,042 U.S. Treasury securities 771,226 2 (98,145) 673,083 771,145 — (101,075) 670,070 Agency commercial MBS 540,449 — (60,492) 479,957 549,492 — (61,886) 487,606 Agency residential CMOs 500,101 — (60,874) 439,227 517,174 — (60,111) 457,063 Municipal securities 395,200 — (52,411) 342,789 399,724 — (60,398) 339,326 Corporate debt securities 344,730 — (64,217) 280,513 344,767 6 (32,868) 311,905 Private label residential CMOs 198,992 — (39,485) 159,507 207,123 — (40,399) 166,724 Collateralized loan obligations 109,168 — (4,345) 104,823 109,159 — (6,898) 102,261 Private label commercial MBS 25,137 — (1,937) 23,200 28,903 — (2,076) 26,827 Asset-backed securities 22,116 — (391) 21,725 23,568 — (1,155) 22,413 SBA securities 16,360 — (1,278) 15,082 18,524 — (1,274) 17,250 Total $ 5,515,823 $ 2 $ (807,306) $ 4,708,519 $ 5,654,617 $ 6 $ (811,136) $ 4,843,487 As of June 30, 2023, the Company had not recorded an allowance for credit losses on securities available-for-sale. The Company does not consider unrealized losses on such securities to be attributable to credit-related factors, as the unrealized losses have occurred as a result of changes in non-credit related factors such as interest rates, market spreads, and market conditions subsequent to purchase. As of June 30, 2023, securities available-for-sale with a fair value of $4.4 billion were pledged as collateral primarily for the Bank Term Funding Program borrowings, the FRB secured line of credit, and public deposits. 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 (losses) gains for the years indicated: Three Months Ended Six Months Ended June 30, June 30, Sales of Securities Available-for-Sale 2023 2022 2023 2022 (In thousands) Amortized cost of securities sold $ — $ 393,432 $ — $ 599,520 Gross realized gains $ — $ 1,544 $ — $ 2,734 Gross realized losses — (2,753) — (3,839) Net realized gains (losses) $ — $ (1,209) $ — $ (1,105) 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: June 30, 2023 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 $ 6,358 $ (400) $ 2,162,255 $ (423,331) $ 2,168,613 $ (423,731) U.S. Treasury securities — — 668,123 (98,145) 668,123 (98,145) Agency commercial MBS — — 479,957 (60,492) 479,957 (60,492) Agency residential CMOs 701 (31) 438,527 (60,843) 439,228 (60,874) Municipal securities 1,162 (87) 341,627 (52,324) 342,789 (52,411) Corporate debt securities 13,997 (1,003) 266,516 (63,214) 280,513 (64,217) Private label residential CMOs — — 159,507 (39,485) 159,507 (39,485) Collateralized loan obligations — — 104,823 (4,345) 104,823 (4,345) Private label commercial MBS — — 23,200 (1,937) 23,200 (1,937) Asset-backed securities — — 21,725 (391) 21,725 (391) SBA securities — — 15,082 (1,278) 15,082 (1,278) Total $ 22,218 $ (1,521) $ 4,681,342 $ (805,785) $ 4,703,560 $ (807,306) December 31, 2022 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 $ 52,556 $ (6,193) $ 2,189,485 $ (436,803) $ 2,242,041 $ (442,996) U.S. Treasury securities 4,972 (26) 665,098 (101,049) 670,070 (101,075) Agency commercial MBS 316,892 (31,139) 170,714 (30,747) 487,606 (61,886) Agency residential CMOs 245,755 (22,748) 211,309 (37,363) 457,064 (60,111) Municipal securities 37,380 (3,129) 298,266 (57,269) 335,646 (60,398) Corporate debt securities 302,643 (32,124) 4,256 (744) 306,899 (32,868) Private label residential CMOs 19,261 (1,294) 147,464 (39,105) 166,725 (40,399) Collateralized loan obligations 27,704 (1,818) 74,558 (5,080) 102,262 (6,898) Private label commercial MBS 10,204 (508) 16,623 (1,568) 26,827 (2,076) Asset-backed securities 22,413 (1,155) — — 22,413 (1,155) SBA securities 17,250 (1,274) — — 17,250 (1,274) Total $ 1,057,030 $ (101,408) $ 3,777,773 $ (709,728) $ 4,834,803 $ (811,136) The securities that were in an unrealized loss position at June 30, 2023, 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 "Accumulated other comprehensive (loss) income" of "Stockholders' equity" on the condensed consolidated balance sheets. Although we periodically sell securities for portfolio management purposes, we do not foresee having to sell any impaired securities 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: June 30, 2023 Due After Due After Due One Year Five Years Due Within Through Through After Security Type One Year Five Years Ten Years Ten Years Total (In thousands) Amortized Cost: Agency residential MBS $ — $ — $ — $ 2,592,344 $ 2,592,344 U.S. Treasury securities 4,958 666,576 99,692 — 771,226 Agency commercial MBS — 202,143 320,570 17,736 540,449 Agency residential CMOs — — 172,382 327,719 500,101 Municipal securities — 65,454 307,486 22,260 395,200 Corporate debt securities — 5,000 339,730 — 344,730 Private label residential CMOs — — — 198,992 198,992 Collateralized loan obligations — — 70,330 38,838 109,168 Private label commercial MBS — — — 25,137 25,137 Asset-backed securities — — — 22,116 22,116 SBA securities — 3,408 — 12,952 16,360 Total $ 4,958 $ 942,581 $ 1,310,190 $ 3,258,094 $ 5,515,823 Fair Value: Agency residential MBS $ — $ — $ — $ 2,168,613 $ 2,168,613 U.S. Treasury securities 4,959 582,194 85,930 — 673,083 Agency commercial MBS — 185,585 277,605 16,767 479,957 Agency residential CMOs — — 149,975 289,252 439,227 Municipal securities — 58,119 264,120 20,550 342,789 Corporate debt securities — 4,725 275,788 — 280,513 Private label residential CMOs — — — 159,507 159,507 Collateralized loan obligations — — 67,716 37,107 104,823 Private label commercial MBS — — — 23,200 23,200 Asset-backed securities — — — 21,725 21,725 SBA securities — 3,168 — 11,914 15,082 Total $ 4,959 $ 833,791 $ 1,121,134 $ 2,748,635 $ 4,708,519 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. Securities Held-to-Maturity The following table presents amortized cost, allowance for credit losses, gross unrealized gains and losses, and fair values of securities held-to-maturity as of the date indicated: June 30, 2023 Allowance for Net Gross Gross Amortized Credit Carrying Unrealized Unrealized Fair Security Type Cost Losses Amount Gains Losses Value (In thousands) Municipal securities $ 1,245,462 $ (140) $ 1,245,322 $ 173 $ (53,811) $ 1,191,684 Agency commercial MBS 430,578 — 430,578 — (35,178) 395,400 Private label commercial MBS 348,123 — 348,123 — (34,612) 313,511 U.S. Treasury securities 185,581 — 185,581 — (12,987) 172,594 Corporate debt securities 69,958 (1,360) 68,598 — (20,975) 47,623 Total (1) $ 2,279,702 $ (1,500) $ 2,278,202 $ 173 $ (157,563) $ 2,120,812 __________________________ (1) Excludes accrued interest receivable of $13.4 million at June 30, 2023 which is recorded in "Other assets" on the condensed consolidated balance sheets. December 31, 2022 Allowance for Net Gross Gross Amortized Credit Carrying Unrealized Unrealized Fair Security Type Cost Losses Amount Gains Losses Value (In thousands) Municipal securities $ 1,243,443 $ (140) $ 1,243,303 $ 8 $ (77,526) $ 1,165,785 Agency commercial MBS 427,411 — 427,411 — (34,287) 393,124 Private label commercial MBS 345,825 — 345,825 — (26,027) 319,798 U.S. Treasury securities 184,162 — 184,162 — (12,462) 171,700 Corporate debt securities 69,794 (1,360) 68,434 — (8,369) 60,065 Total (1) $ 2,270,635 $ (1,500) $ 2,269,135 $ 8 $ (158,671) $ 2,110,472 __________________________ (1) Excludes accrued interest receivable of $13.5 million at December 31, 2022 which is recorded in "Other assets" on the condensed consolidated balance sheets. As of June 30, 2023, securities held-to-maturity with an amortized cost of $2.2 billion and a fair value of $2.1 billion were pledged as collateral primarily for public deposits, the FRB secured line of credit, Bank Term Funding Program borrowings, and letters of credit. Allowance for Credit Losses on Securities Held-to-Maturity The following table presents the changes by major security type in our allowance for credit losses on securities held-to-maturity for the periods indicated: Allowance for Provision Allowance for Credit Losses, for Credit Losses, Beginning Credit End of Security Type of Period Losses Charge-offs Recoveries Period (In thousands) Three Months Ended June 30, 2023 Municipal securities $ 140 $ — $ — $ — $ 140 Corporate debt securities 1,360 — — — 1,360 Total $ 1,500 $ — $ — $ — $ 1,500 Six Months Ended June 30, 2023 Municipal securities $ 140 $ — $ — $ — $ 140 Corporate debt securities 1,360 — — — 1,360 Total $ 1,500 $ — $ — $ — $ 1,500 Allowance for Provision Allowance for Credit Losses, for Credit Losses, Beginning Credit End of Security Type of Period Losses Charge-offs Recoveries Period (In thousands) Three Months Ended June 30, 2022 Municipal securities $ — $ 140 $ — $ — $ 140 Corporate debt securities — 1,360 — — 1,360 Total $ — $ 1,500 $ — $ — $ 1,500 Six Months Ended June 30, 2022 Municipal securities $ — $ 140 $ — $ — $ 140 Corporate debt securities — 1,360 — — 1,360 Total $ — $ 1,500 $ — $ — $ 1,500 Credit losses on HTM securities are recorded at the time of purchase, acquisition, or when the Company designates securities as held-to-maturity. Credit losses on HTM securities are representative of current expected credit losses that may be incurred over the life of the investment. Accrued interest receivable on HTM securities, which is included in other assets on the condensed consolidated balance sheets, is excluded from the estimate of expected credit losses. HTM U.S. treasury securities and agency-backed MBS securities are considered to have no risk of loss as they are either explicitly or implicitly guaranteed by the U.S. government. The change in fair value in the HTM private label CMBS portfolio is solely driven by changes in interest rates. The Company has no knowledge of any underlying credit issues and the cash flows underlying the debt securities have not changed and are not expected to be impacted by changes in interest rates and, thus, there is no related ACL for this portfolio. The underlying bonds in the Company’s HTM municipal securities and HTM corporate debt securities portfolios are evaluated for credit losses in conjunction with management’s estimate of the allowance for credit losses based primarily on credit ratings. Securities Held-to-Maturity by Credit Quality Indicator The Company uses S&P, Moody's, Fitch, Kroll, and Egan Jones ratings as the credit quality indicators for its held-to-maturity securities. The following table presents our securities held-to-maturity portfolio at amortized cost by the lowest available credit rating as of the dates indicated: June 30, 2023 Security Type AAA AA+ AA AA- A+ A A- BBB NR Total (In thousands) Amortized Cost: Municipal securities $ 552,131 $ 403,500 $ 166,760 $ 86,060 $ 12,018 $ 1,894 $ — $ — $ 23,099 $ 1,245,462 Agency commercial MBS — 430,578 — — — — — — — 430,578 Private label commercial MBS 348,123 — — — — — — — — 348,123 U.S. Treasury securities — 185,581 — — — — — — — 185,581 Corporate debt securities — — — — — — — 44,306 25,652 69,958 Total $ 900,254 $ 1,019,659 $ 166,760 $ 86,060 $ 12,018 $ 1,894 $ — $ 44,306 $ 48,751 $ 2,279,702 December 31, 2022 Security Type AAA AA+ AA AA- A+ A A- BBB NR Total (In thousands) Amortized Cost: Municipal securities $ 568,674 $ 385,990 $ 173,751 $ 95,471 $ — $ 1,901 $ — $ — $ 17,656 $ 1,243,443 Agency commercial MBS — 427,411 — — — — — — — 427,411 Private label commercial MBS 345,825 — — — — — — — — 345,825 U.S. Treasury securities — 184,162 — — — — — — — 184,162 Corporate debt securities — — — — — — 23,244 20,999 25,551 69,794 Total $ 914,499 $ 997,563 $ 173,751 $ 95,471 $ — $ 1,901 $ 23,244 $ 20,999 $ 43,207 $ 2,270,635 Contractual Maturities of Securities Held-to-Maturity The following table presents the contractual maturities of our securities held-to-maturity portfolio based on amortized cost and fair value as of the date indicated: June 30, 2023 Due After Due After Due One Year Five Years Due Within Through Through After Security Type One Year Five Years Ten Years Ten Years Total (In thousands) Amortized Cost: Municipal securities $ — $ — $ 368,095 $ 877,367 $ 1,245,462 Agency commercial MBS — — 409,517 21,061 430,578 Private label commercial MBS — — 36,193 311,930 348,123 U.S. Treasury securities — — 185,581 — 185,581 Corporate debt securities — — 10,211 59,747 69,958 Total $ — $ — $ 1,009,597 $ 1,270,105 $ 2,279,702 Fair Value: Municipal securities $ — $ — $ 348,295 $ 843,389 $ 1,191,684 Agency commercial MBS — — 375,946 19,454 395,400 Private label commercial MBS — — 33,057 280,454 313,511 U.S. Treasury securities — — 172,594 — 172,594 Corporate debt securities — — 8,000 39,623 47,623 Total $ — $ — $ 937,892 $ 1,182,920 $ 2,120,812 Commercial 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, including available-for-sale and held-to-maturity, for the periods indicated: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 (In thousands) Taxable interest $ 38,207 $ 44,467 $ 76,899 $ 89,109 Non-taxable interest 4,922 8,180 9,825 16,699 Dividend income 1,024 255 1,666 516 Total interest income on investment securities $ 44,153 $ 52,902 $ 88,390 $ 106,324 |
Loans and Leases
Loans and Leases | 6 Months Ended |
Jun. 30, 2023 | |
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: June 30, December 31, 2023 2022 (In thousands) Real estate mortgage $ 14,312,273 $ 15,762,351 Real estate construction and land (1) 2,491,483 4,221,853 Commercial 5,097,714 8,297,182 Consumer 409,822 444,630 Total gross loans and leases held for investment 22,311,292 28,726,016 Deferred fees, net (53,082) (116,887) Total loans and leases held for investment, net of deferred fees 22,258,210 28,609,129 Allowance for loan and lease losses (219,234) (200,732) Total loans and leases held for investment, net (2) $ 22,038,976 $ 28,408,397 ____________________ (1) Includes land and acquisition and development loans of $187.6 million and $153.5 million at June 30, 2023 and December 31, 2022. (2) Excludes accrued interest receivable of $103.8 million and $124.3 million at June 30, 2023 and December 31, 2022, 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: June 30, 2023 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 938 $ 23,151 $ 24,089 $ 3,586,231 $ 3,610,320 Multi-family — — — 5,304,544 5,304,544 Other residential 52,358 38,209 90,567 5,282,611 5,373,178 Total real estate mortgage 53,296 61,360 114,656 14,173,386 14,288,042 Real estate construction and land: Commercial — — — 415,997 415,997 Residential — — — 2,049,526 2,049,526 Total real estate construction and land — — — 2,465,523 2,465,523 Commercial: Asset-based — 385 385 2,356,713 2,357,098 Venture capital 1,845 — 1,845 1,721,631 1,723,476 Other commercial 262 390 652 1,013,560 1,014,212 Total commercial 2,107 775 2,882 5,091,904 5,094,786 Consumer 2,025 187 2,212 407,647 409,859 Total $ 57,428 $ 62,322 $ 119,750 $ 22,138,460 $ 22,258,210 December 31, 2022 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 1,721 $ 29,269 $ 30,990 $ 3,815,841 $ 3,846,831 Multi-family — — — 5,607,865 5,607,865 Other residential 101,728 39,875 141,603 6,134,025 6,275,628 Total real estate mortgage 103,449 69,144 172,593 15,557,731 15,730,324 Real estate construction and land: Commercial — — — 898,592 898,592 Residential — — — 3,253,580 3,253,580 Total real estate construction and land — — — 4,152,172 4,152,172 Commercial: Asset-based — 434 434 5,139,775 5,140,209 Venture capital — — — 2,033,302 2,033,302 Other commercial 461 1,195 1,656 1,106,795 1,108,451 Total commercial 461 1,629 2,090 8,279,872 8,281,962 Consumer 1,935 149 2,084 442,587 444,671 Total $ 105,845 $ 70,922 $ 176,767 $ 28,432,362 $ 28,609,129 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: June 30, 2023 December 31, 2022 Nonaccrual Performing Total Nonaccrual Performing Total (In thousands) Real estate mortgage: Commercial $ 37,191 $ 3,573,129 $ 3,610,320 $ 42,509 $ 3,804,322 $ 3,846,831 Multi-family — 5,304,544 5,304,544 — 5,607,865 5,607,865 Other residential 63,626 5,309,552 5,373,178 55,893 6,219,735 6,275,628 Total real estate mortgage 100,817 14,187,225 14,288,042 98,402 15,631,922 15,730,324 Real estate construction and land: Commercial — 415,997 415,997 — 898,592 898,592 Residential — 2,049,526 2,049,526 — 3,253,580 3,253,580 Total real estate construction and land — 2,465,523 2,465,523 — 4,152,172 4,152,172 Commercial: Asset-based 385 2,356,713 2,357,098 865 5,139,344 5,140,209 Venture capital — 1,723,476 1,723,476 — 2,033,302 2,033,302 Other commercial 3,479 1,010,733 1,014,212 4,345 1,104,106 1,108,451 Total commercial 3,864 5,090,922 5,094,786 5,210 8,276,752 8,281,962 Consumer 205 409,654 409,859 166 444,505 444,671 Total $ 104,886 $ 22,153,324 $ 22,258,210 $ 103,778 $ 28,505,351 $ 28,609,129 At June 30, 2023, nonaccrual loans and leases included $62.3 million of loans and leases 90 or more days past due, $7.6 million of loans and leases 30 to 89 days past due, and $35.0 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, 2022, nonaccrual loans and leases included $70.9 million of loans and leases 90 or more days past due, $6.8 million of loans and leases 30 to 89 days past due, and $26.0 million of current loans and leases that were placed on nonaccrual status based on management’s judgment regarding their collectability. As of June 30, 2023, our three largest loan relationships on nonaccrual status had an aggregate carrying value of $24.9 million and represented 24% 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. June 30, 2023 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 39,768 $ 121,084 $ 3,449,468 $ 3,610,320 Multi-family 87,390 30,743 5,186,411 5,304,544 Other residential 72,549 56,042 5,244,587 5,373,178 Total real estate mortgage 199,707 207,869 13,880,466 14,288,042 Real estate construction and land: Commercial — — 415,997 415,997 Residential — 2,376 2,047,150 2,049,526 Total real estate construction and land — 2,376 2,463,147 2,465,523 Commercial: Asset-based 3,650 13,368 2,340,080 2,357,098 Venture capital 2,614 122,482 1,598,380 1,723,476 Other commercial 5,516 12,417 996,279 1,014,212 Total commercial 11,780 148,267 4,934,739 5,094,786 Consumer 447 7,856 401,556 409,859 Total $ 211,934 $ 366,368 $ 21,679,908 $ 22,258,210 December 31, 2022 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 43,737 $ 106,493 $ 3,696,601 $ 3,846,831 Multi-family 3,611 60,330 5,543,924 5,607,865 Other residential 60,557 58,063 6,157,008 6,275,628 Total real estate mortgage 107,905 224,886 15,397,533 15,730,324 Real estate construction and land: Commercial — 91,334 807,258 898,592 Residential — 45,155 3,208,425 3,253,580 Total real estate construction and land — 136,489 4,015,683 4,152,172 Commercial: Asset-based 865 56,836 5,082,508 5,140,209 Venture capital 2,753 127,907 1,902,642 2,033,302 Other commercial 6,473 13,233 1,088,745 1,108,451 Total commercial 10,091 197,976 8,073,895 8,281,962 Consumer 275 6,908 437,488 444,671 Total $ 118,271 $ 566,259 $ 27,924,599 $ 28,609,129 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 Six Months Three Months Six Months Ended Ended Ended Ended June 30, June 30, June 30, June 30, June 30, June 30, 2023 2023 2023 2022 2022 2022 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 $ 57 $ — $ — $ 66 $ — $ — Multi-family — — — — — — Other residential 396 — — 7,472 — — Real estate construction and land: Commercial — — — — — — Residential — — — 1,115 — — Commercial: Asset based — — — 748 — — Venture capital — — — 3,120 — — Other commercial 738 — — 1,262 — — Consumer 205 — — 223 — — With No Related Allowance Recorded: Real estate mortgage: Commercial $ 37,134 $ 104 $ 107 $ 28,463 $ 14 $ 98 Multi-family — — — — — — Other residential 63,230 — — 26,995 — — Real estate construction and land: Commercial — — — 5,229 — — Residential — — — — — — Commercial: Asset based 385 — — 441 — — Venture capital — — — — — — Other commercial 2,741 — — 3,393 7 361 Consumer — — — — — — Total Loans and Leases With and Without an Allowance Recorded: Real estate mortgage $ 100,817 $ 104 $ 107 $ 62,996 $ 14 $ 98 Real estate construction and land — — — 6,344 — — Commercial 3,864 — — 8,964 7 361 Consumer 205 — — 223 — — Total $ 104,886 $ 104 $ 107 $ 78,527 $ 21 $ 459 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 June 30, 2023 2023 2022 2021 2020 2019 Prior Loans Loans Total (In thousands) Real Estate Mortgage: Commercial Internal risk rating: 1-2 High pass $ — $ 4,822 $ 5,168 $ 11,574 $ 26,399 $ 47,435 $ 1,305 $ — $ 96,703 3-4 Pass 51,196 535,474 507,068 428,682 235,107 1,491,564 93,911 9,763 3,352,765 5 Special mention — 2,551 — 27,012 14,062 77,459 — — 121,084 6-8 Classified 820 — 540 452 2,866 35,090 — — 39,768 Total $ 52,016 $ 542,847 $ 512,776 $ 467,720 $ 278,434 $ 1,651,548 $ 95,216 $ 9,763 $ 3,610,320 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ 27 $ 7,010 $ — $ — $ 7,037 Real Estate Mortgage: Multi-family Internal risk rating: 1-2 High pass $ — $ 28,248 $ 107,068 $ 32,176 $ 54,875 $ 105,088 $ — $ — $ 327,455 3-4 Pass 9,085 1,861,189 1,052,383 501,131 551,947 826,718 56,503 — 4,858,956 5 Special mention — — — 4,710 5,409 20,624 — — 30,743 6-8 Classified — — 6,000 8,624 22,892 49,874 — — 87,390 Total $ 9,085 $ 1,889,437 $ 1,165,451 $ 546,641 $ 635,123 $ 1,002,304 $ 56,503 $ — $ 5,304,544 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Real Estate Mortgage: Other residential Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ 1,500 $ — $ 1,500 3-4 Pass 206,352 1,951,356 2,952,687 70,765 — 18,855 42,975 97 5,243,087 5 Special mention 6,803 30,966 17,418 855 — — — — 56,042 6-8 Classified (1,642) 33,617 33,704 4,324 — 2,405 — 141 72,549 Total $ 211,513 $ 2,015,939 $ 3,003,809 $ 75,944 $ — $ 21,260 $ 44,475 $ 238 $ 5,373,178 Current YTD period: Gross charge-offs $ 2,586 $ 18,680 $ 4,771 $ 632 $ — $ 4 $ — $ — $ 26,673 ____________________ (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 June 30, 2023 2023 2022 2021 2020 2019 Prior Loans Loans Total (In thousands) Real Estate Construction and Land: Commercial Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 15,191 196,205 113,939 58,864 26,048 5,750 — — 415,997 5 Special mention — — — — — — — — — 6-8 Classified — — — — — — — — — Total $ 15,191 $ 196,205 $ 113,939 $ 58,864 $ 26,048 $ 5,750 $ — $ — $ 415,997 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Real Estate Construction and Land: Residential Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 20,677 779,682 689,815 460,255 — 25,842 70,879 — 2,047,150 5 Special mention — — 2,376 — — — — — 2,376 6-8 Classified — — — — — — — — — Total $ 20,677 $ 779,682 $ 692,191 $ 460,255 $ — $ 25,842 $ 70,879 $ — $ 2,049,526 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial: Asset-Based Internal risk rating: 1-2 High pass $ 5,349 $ 263,148 $ 227,094 $ 58,814 $ 159,177 $ 301,212 $ 81,851 $ — $ 1,096,645 3-4 Pass 86,482 313,380 159,215 24,332 12,379 35,529 609,684 2,434 1,243,435 5 Special mention — 151 — — — 3,265 9,927 25 13,368 6-8 Classified — — — — — 385 3,265 — 3,650 Total $ 91,831 $ 576,679 $ 386,309 $ 83,146 $ 171,556 $ 340,391 $ 704,727 $ 2,459 $ 2,357,098 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ 150 $ 150 Commercial: Venture Capital Internal risk rating: 1-2 High pass $ (171) $ (10) $ — $ 2,000 $ — $ (2) $ 165,678 $ (420) $ 167,075 3-4 Pass 41,981 127,431 130,587 7,309 23,699 1,588 1,025,441 73,269 1,431,305 5 Special mention — 20,471 48,890 14,478 — — 38,643 — 122,482 6-8 Classified — — 2,614 — — — — — 2,614 Total $ 41,810 $ 147,892 $ 182,091 $ 23,787 $ 23,699 $ 1,586 $ 1,229,762 $ 72,849 $ 1,723,476 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — ____________________ (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 June 30, 2023 2023 2022 2021 2020 2019 Prior Loans Loans Total (In thousands) Commercial: Other Commercial Internal risk rating: 1-2 High pass $ 643 $ 2,221 $ 7,216 $ (45) $ 53 $ (39) $ 20,990 $ — $ 31,039 3-4 Pass 2,635 76,083 272,118 49,240 36,181 122,672 403,272 3,039 965,240 5 Special mention 1,749 — 614 697 586 2,258 6,434 79 12,417 6-8 Classified — — — — 309 2,276 1,550 1,381 5,516 Total $ 5,027 $ 78,304 $ 279,948 $ 49,892 $ 37,129 $ 127,167 $ 432,246 $ 4,499 $ 1,014,212 Current YTD period: Gross charge-offs $ — $ 6,699 $ — $ — $ — $ — $ 304 $ 331 $ 7,334 Consumer Internal risk rating: 1-2 High pass $ — $ 30 $ 26 $ 6 $ — $ — $ 1,107 $ — $ 1,169 3-4 Pass 67 59,240 209,923 19,253 42,953 61,576 7,375 — 400,387 5 Special mention — 1,739 4,075 167 1,734 59 82 — 7,856 6-8 Classified — — 232 33 73 90 1 18 447 Total $ 67 $ 61,009 $ 214,256 $ 19,459 $ 44,760 $ 61,725 $ 8,565 $ 18 $ 409,859 Current YTD period: Gross charge-offs $ — $ 221 $ 273 $ 76 $ 144 $ 184 $ 1 $ 12 $ 911 Total Loans and Leases Internal risk rating: 1-2 High pass $ 5,821 $ 298,459 $ 346,572 $ 104,525 $ 240,504 $ 453,694 $ 272,431 $ (420) $ 1,721,586 3-4 Pass 433,666 5,900,040 6,087,735 1,619,831 928,314 2,590,094 2,310,040 88,602 19,958,322 5 Special mention 8,552 55,878 73,373 47,919 21,791 103,665 55,086 104 366,368 6-8 Classified (822) 33,617 43,090 13,433 26,140 90,120 4,816 1,540 211,934 Total $ 447,217 $ 6,287,994 $ 6,550,770 $ 1,785,708 $ 1,216,749 $ 3,237,573 $ 2,642,373 $ 89,826 $ 22,258,210 Current YTD period: Gross charge-offs $ 2,586 $ 25,600 $ 5,044 $ 708 $ 171 $ 7,198 $ 305 $ 493 $ 42,105 ______________________ (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, 2022 2022 2021 2020 2019 2018 Prior Loans Loans Total (In thousands) Real Estate Mortgage: Commercial Internal risk rating: 1-2 High pass $ 4,957 $ 3,791 $ 7,215 $ 26,132 $ 4,690 $ 35,343 $ 1,290 $ — $ 83,418 3-4 Pass 537,931 501,576 467,792 322,448 539,701 1,148,386 85,284 10,065 3,613,183 5 Special mention — — 728 16,394 2,294 87,077 — — 106,493 6-8 Classified — 559 464 1,310 27,396 14,008 — — 43,737 Total $ 542,888 $ 505,926 $ 476,199 $ 366,284 $ 574,081 $ 1,284,814 $ 86,574 $ 10,065 $ 3,846,831 Current YTD period: Gross charge-offs $ — $ 67 $ — $ 79 $ 2,258 $ 326 $ — $ — $ 2,730 Real Estate Mortgage: Multi-family Internal risk rating: 1-2 High pass $ — $ 89,251 $ 19,945 $ 58,275 $ 66,219 $ 69,805 $ — $ — $ 303,495 3-4 Pass 1,940,337 1,084,467 523,645 676,169 446,987 511,185 57,639 — 5,240,429 5 Special mention — — 4,944 16,974 7,003 31,409 — — 60,330 6-8 Classified — — — — 2,750 861 — — 3,611 Total $ 1,940,337 $ 1,173,718 $ 548,534 $ 751,418 $ 522,959 $ 613,260 $ 57,639 $ — $ 5,607,865 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Real Estate Mortgage: Other residential Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ 1,000 $ — $ 1,000 3-4 Pass 2,805,533 3,200,013 83,580 — 237 20,394 46,155 96 6,156,008 5 Special mention 27,272 25,766 4,916 — 109 — — — 58,063 6-8 Classified 19,248 33,218 5,333 — — 2,555 — 203 60,557 Total $ 2,852,053 $ 3,258,997 $ 93,829 $ — $ 346 $ 22,949 $ 47,155 $ 299 $ 6,275,628 Current YTD period: Gross charge-offs $ 249 $ 1,084 $ 912 $ — $ — $ 81 $ — $ — $ 2,326 ____________________ (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, 2022 2022 2021 2020 2019 2018 Prior Loans Loans Total (In thousands) Real Estate Construction and Land: Commercial Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 299,538 170,397 74,634 237,294 17,763 7,632 — — 807,258 5 Special mention — — — — 91,334 — — — 91,334 6-8 Classified — — — — — — — — — Total $ 299,538 $ 170,397 $ 74,634 $ 237,294 $ 109,097 $ 7,632 $ — $ — $ 898,592 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Real Estate Construction and Land: Residential Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 605,683 1,302,061 844,041 282,076 125,805 204 48,555 — 3,208,425 5 Special mention — — — 45,155 — — — — 45,155 6-8 Classified — — — — — — — — — Total $ 605,683 $ 1,302,061 $ 844,041 $ 327,231 $ 125,805 $ 204 $ 48,555 $ — $ 3,253,580 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial: Asset-Based Internal risk rating: 1-2 High pass $ 225,140 $ 209,272 $ 57,727 $ 202,063 $ 121,600 $ 208,542 $ 850,031 $ — $ 1,874,375 3-4 Pass 547,675 188,269 52,711 35,811 33,426 40,714 2,239,785 69,742 3,208,133 5 Special mention — — — 43,409 — 3,505 9,922 — 56,836 6-8 Classified — — — — — 434 — 431 865 Total $ 772,815 $ 397,541 $ 110,438 $ 281,283 $ 155,026 $ 253,195 $ 3,099,738 $ 70,173 $ 5,140,209 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ 750 $ — $ 750 Commercial: Venture Capital Internal risk rating: 1-2 High pass $ (40) $ — $ 2,000 $ — $ 134 $ 3 $ 216,535 $ 503 $ 219,135 3-4 Pass 92,015 136,296 18,075 3,705 1,833 910 1,365,101 65,572 1,683,507 5 Special mention 13,970 40,924 4,483 23,202 — — 40,335 4,993 127,907 6-8 Classified — 2,753 — — — — — — 2,753 Total $ 105,945 $ 179,973 $ 24,558 $ 26,907 $ 1,967 $ 913 $ 1,621,971 $ 71,068 $ 2,033,302 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ 940 $ — $ 940 ____________________ (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, 2022 2022 2021 2020 2019 2018 Prior Loans Loans Total (In thousands) Commercial: Other Commercial Internal risk rating: 1-2 High pass $ 3,591 $ 10,880 $ 12 $ 161 $ 3 $ 14 $ 20,958 $ — $ 35,619 3-4 Pass 84,930 278,208 54,542 41,908 47,771 87,645 454,438 3,684 1,053,126 5 Special mention 7,038 796 184 695 1,526 2,858 47 89 13,233 6-8 Classified — 806 — 319 (3) 2,653 1,600 1,098 6,473 Total $ 95,559 $ 290,690 $ 54,738 $ 43,083 $ 49,297 $ 93,170 $ 477,043 $ 4,871 $ 1,108,451 Current YTD period: Gross charge-offs $ — $ 209 $ — $ 1 $ — $ 2,537 $ 1,906 $ 474 $ 5,127 Consumer Internal risk rating: 1-2 High pass $ 34 $ 30 $ 7 $ — $ 1 $ — $ 854 $ — $ 926 3-4 Pass 62,868 226,084 20,798 48,542 31,693 37,838 8,739 — 436,562 5 Special mention 1,252 3,490 464 1,126 278 238 60 — 6,908 6-8 Classified 47 — — 59 79 74 — 16 275 Total $ 64,201 $ 229,604 $ 21,269 $ 49,727 $ 32,051 $ 38,150 $ 9,653 $ 16 $ 444,671 Current YTD period: Gross charge-offs $ 309 $ 529 $ 237 $ 728 $ — $ 354 $ — $ 7 $ 2,164 Total Loans and Leases Internal risk rating: 1-2 High pass $ 233,682 $ 313,224 $ 86,906 $ 286,631 $ 192,647 $ 313,707 $ 1,090,668 $ 503 $ 2,517,968 3-4 Pass 6,976,510 7,087,371 2,139,818 1,647,953 1,245,216 1,854,908 4,305,696 149,159 25,406,631 5 Special mention 49,532 70,976 15,719 146,955 102,544 125,087 50,364 5,082 566,259 6-8 Classified 19,295 37,336 5,797 1,688 30,222 20,585 1,600 1,748 118,271 Total $ 7,279,019 $ 7,508,907 $ 2,248,240 $ 2,083,227 $ 1,570,629 $ 2,314,287 $ 5,448,328 $ 156,492 $ 28,609,129 Current YTD period: Gross charge-offs $ 558 $ 1,889 $ 1,149 $ 808 $ 2,258 $ 3,298 $ 3,596 $ 481 $ 14,037 ____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees. On January 1, 2023, the Company adopted ASU 2022-02, " Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures" ("ASU 2022-02") , which eliminated the accounting guidance for troubled debt restructurings while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. This guidance was applied on a prospective basis. The following table presents our loan modifications made to borrowers experiencing financial difficulty by type of modification for the period indicated with related amortized cost balances as of the date indicated: Three Months Ended June 30, 2023 Loan Modifications Balances (Amortized Cost Basis) at June 30, 2023 Term Extension % of Loan Balance Portfolio Class (Dollars in thousands) Real estate mortgage: Other residential $ 8,993 0.2 % Commercial: Other commercial 931 0.1 % Consumer 15 — % Total $ 9,939 Six Months Ended June 30, 2023 Loan Modifications Balances (Amortized Cost Basis) at June 30, 2023 Combination - Term Extension and Combination - Term Interest Extension and Total Loan Term Extension Payment Delay Reduction Payment Delay Modifications % of % of % of % of % of Loan Loan Loan Loan Loan Portfolio Portfolio Portfolio Portfolio Portfolio Balance Class Balance Class Balance Class Balance Class Balance Class (Dollars in thousands) Real estate mortgage: Other residential $ 18,522 0.3 % $ — — % $ — — % $ — — % $ 18,522 0.3 % Commercial: Venture Venture capital — — % — — % — — % 612 — % 612 — % Other commercial 2,762 0.3 % 44 — % — — % — — % 2,806 0.3 % Consumer 15 — % — — % 3 — % — — % 18 — % Total $ 21,299 $ 44 $ 3 $ 612 $ 21,958 The following tables present the financial effect of our loan modifications made to borrowers experiencing financial difficulty by type of modification for the period indicated: Three Months Ended June 30, 2023 Term Extension - Financial Effect Real estate mortgage: Other residential Extended maturity by a weighted average 12 months. Commercial: Other commercial Extended maturity by a weighted average 23 months. Consumer Extended maturity by a weighted average 12 months. Six Months Ended June 30, 2023 Term Extension - Financial Effect Real estate mortgage: Other residential Extended maturity by a weighted average 9 months. Commercial: Other commercial Extended maturity by a weighted average 16 months. Consumer Extended maturity by a weighted average 12 months. Six Months Ended June 30, 2023 Payment Delay - Financial Effect Commercial: Other commercial Provided six months of reduced payments to borrowers without extending the loan term. Six Months Ended June 30, 2023 Combination - Term Extension and Interest Rate Reduction - Financial Effect Consumer Extended maturity by a weighted average 2.0 years and reduced weighted average contractual interest rate from 9.5% to 2.0%. Six Months Ended June 30, 2023 Combination - Term Extension and Payment Delay - Financial Effect Commercial: Venture capital Extended maturity by a weighted average 11 months and provided 11 months of interest only payments to borrowers. The following table presents the payment status of our loan modifications made during the past six month with related amortized cost balances as of the date indicated: Payment Status (Amortized Cost Basis) at June 30, 2023 30-89 Days 90 or More Days Current Past Due Past Due Total (In thousands) Real estate mortgage: Other residential $ 14,384 $ 3,859 $ 279 $ 18,522 Commercial: Venture capital 612 — — 612 Other commercial 2,806 — — 2,806 Consumer 18 — — 18 Total $ 17,820 $ 3,859 $ 279 $ 21,958 At June 30, 2023, there were other residential real estate loans with an amortized cost of $4.1 million that had been modified in the form of a term extension during the preceding six-month period and subsequently defaulted during the three and six months ended June 30, 2023. Prior to the adoption of ASU 2022-02, the Company accounted for a modification to the contractual terms of a loan that resulted in granting a concession to a borrower experiencing financial difficulties as a TDR. TDRs were a result of rate reductions, term extensions, fee concessions, transfers to foreclosed assets, discounted loan payoffs, and debt forgiveness, or a combination thereof. 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 June 30, 2022 Six Months Ended June 30, 2022 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 (In thousands) Real estate mortgage: Commercial — $ — $ — — $ — $ — Other residential 1 208 208 2 512 207 Commercial: Venture capital 4 3,330 3,330 4 3,330 3,330 Other commercial 6 57 57 19 1,131 1,131 Consumer 1 18 18 1 18 18 Total 12 $ 3,613 $ 3,613 26 $ 4,991 $ 4,686 During the three and six months ended June 30, 2022, there was one other residential real estate mortgage loan for $104,000 and two other commercial loans totaling $110,000 restructured in the preceding 1 2-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 8. 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 Six Months Ended June 30, June 30, 2023 2022 2023 2022 (In thousands) Component of leases receivable income: Interest income on net investments in leases $ 4,118 $ 2,491 $ 7,867 $ 4,879 The following table presents the components of leases receivable as of the dates indicated: June 30, 2023 December 31, 2022 (In thousands) Net Investment in Direct Financing Leases: Lease payments receivable $ 266,039 $ 232,909 Unguaranteed residual assets 29,491 23,561 Deferred costs and other 3,018 1,815 Aggregate net investment in leases $ 298,548 $ 258,285 The following table presents maturities of leases receivable as of the date indicated: June 30, 2023 (In thousands) Period ending December 31, 2023 $ 37,683 2024 82,239 2025 63,987 2026 45,406 2027 32,274 Thereafter 39,664 Total undiscounted cash flows 301,253 Less: Unearned income (35,214) Present value of lease payments $ 266,039 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 June 30, 2023 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of period $ 109,483 $ 55,034 $ 37,195 $ 8,343 $ 210,055 Charge-offs (23,875) — (7,347) (486) (31,708) Recoveries 62 — 742 83 887 Net (charge-offs) recoveries (23,813) — (6,605) (403) (30,821) Provision 47,138 (15,355) 6,631 1,586 40,000 Balance, end of period $ 132,808 $ 39,679 $ 37,221 $ 9,526 $ 219,234 Six Months Ended June 30, 2023 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of period $ 87,309 $ 52,320 $ 52,849 $ 8,254 $ 200,732 Charge-offs (33,710) — (7,484) (911) (42,105) Recoveries 262 — 1,717 128 2,107 Net (charge-offs) recoveries (33,448) — (5,767) (783) (39,998) Provision 78,947 (12,641) (9,861) 2,055 58,500 Balance, end of period $ 132,808 $ 39,679 $ 37,221 $ 9,526 $ 219,234 Ending Allowance by Evaluation Methodology: Individually evaluated $ — $ — $ — $ — $ — Collectively evaluated $ 132,808 $ 39,679 $ 37,221 $ 9,526 $ 219,234 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 101,968 $ — $ 3,126 $ — $ 105,094 Collectively evaluated 14,186,074 2,465,523 5,091,660 409,859 22,153,116 Ending balance $ 14,288,042 $ 2,465,523 $ 5,094,786 $ 409,859 $ 22,258,210 Three Months Ended June 30, 2022 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of period $ 87,228 $ 43,648 $ 57,056 $ 9,466 $ 197,398 Charge-offs (1,545) — (911) (343) (2,799) Recoveries 1,305 — 2,790 11 4,106 Net (charge-offs) recoveries (240) — 1,879 (332) 1,307 Provision (1,092) (2,479) (4,904) (1,525) (10,000) Balance, end of period $ 85,896 $ 41,169 $ 54,031 $ 7,609 $ 188,705 Six Months Ended June 30, 2022 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of period $ 98,624 $ 44,508 $ 48,718 $ 8,714 $ 200,564 Charge-offs (1,713) — (3,744) (576) (6,033) Recoveries 1,468 149 4,525 32 6,174 Net (charge-offs) recoveries (245) 149 781 (544) 141 Provision (12,483) (3,488) 4,532 (561) (12,000) Balance, end of period $ 85,896 $ 41,169 $ 54,031 $ 7,609 $ 188,705 Ending Allowance by Evaluation Methodology: Individually evaluated $ 140 $ — $ 812 $ — $ 952 Collectively evaluated $ 85,756 $ 41,169 $ 53,219 $ 7,609 $ 187,753 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 60,657 $ 6,642 $ 11,419 $ — $ 78,718 Collectively evaluated 13,993,428 3,479,958 8,465,387 483,646 26,422,419 Ending balance $ 14,054,085 $ 3,486,600 $ 8,476,806 $ 483,646 $ 26,501,137 The allowance for loan and lease losses increased by $9.2 million in the second quarter of 2023 to $219.2 million due primarily to a provision for loan and lease losses of $40.0 million driven by the impact of an updated forecast, higher net charge-offs and higher reserves for downgraded loans largely offset by lower reserves needed for lower loan and unfunded commitment balances. For additional information regarding the calculation of the allowance for loan and lease losses using the CECL methodology, in cluding discussion of forecasts used to estimate the allowance, please see Note 1(j). Nature of Operations and Summary of Significant Accounting Policies - Allowance for Credit Losses on Loans and Leases Held for Investment of the Notes to Consolidated Financial Statements contained in "Item 8. Financial Statements and Supplementary Data" of the Form 10-K. 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: June 30, 2023 December 31, 2022 Real Business Real Business Property Assets Total Property Assets Total (In thousands) Real estate mortgage $ |
Foreclosed Assets
Foreclosed Assets | 6 Months Ended |
Jun. 30, 2023 | |
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: June 30, December 31, Property Type 2023 2022 (In thousands) Single-family residence $ 8,426 $ 5,022 Total other real estate owned, net 8,426 5,022 Other foreclosed assets — — Total foreclosed assets, net $ 8,426 $ 5,022 The following table presents the changes in foreclosed assets, net of the valuation allowance, for the period indicated: Foreclosed Assets, Net (In thousands) Balance, December 31, 2022 $ 5,022 Transfers to foreclosed assets from loans 9,225 Provision for losses (685) Reductions related to sales (5,136) Balance, June 30, 2023 $ 8,426 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 6 Months Ended |
Jun. 30, 2023 | |
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 at the reporting unit level 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 the fair value of the reporting unit. 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. The impact to banks triggered by the closure of two well-known regional banks caused a significant decline in bank stock prices in March 2023, including our stock price. These triggering events indicated that goodwill related to our single reporting unit may be impaired and resulted in us performing a goodwill impairment assessment in the first quarter of 2023. We applied the market approach using an average share price of the Company's stock and a control premium to determine the estimated fair value of the reporting unit. The control premium was based upon management's judgment using historical information of control premiums for completed bank acquisitions. As a result, we recorded a goodwill impairment charge of our entire goodwill balance of $1.4 billion in the first quarter of 2023 as the estimated fair value of equity was less than book value. This was a non-cash charge to earnings and had no impact on our regulatory capital ratios, cash flows, or liquidity position. The following table presents the changes in the carrying amount of goodwill for the period indicated: Goodwill (In thousands) Balance, December 31, 2022 $ 1,376,736 Impairment (1,376,736) Balance, June 30, 2023 $ — Our other intangible assets with definite lives are CDI and CRI. CDI and CRI are amortized over their respective estimated useful lives and reviewed for impairment at least quarterly. The amortization expense represents the estimated decline in the value of the underlying deposits or customer relationships acquired. The following table presents the changes in CDI and CRI and the related accumulated amortization for the periods indicated: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 (In thousands) Gross Amount of CDI and CRI: Balance, beginning of period $ 90,800 $ 133,850 $ 91,550 $ 133,850 Fully amortized portion — — (750) — Balance, end of period 90,800 133,850 90,800 133,850 Accumulated Amortization: Balance, beginning of period (61,830) (92,542) (60,169) (88,893) Amortization expense (2,389) (3,649) (4,800) (7,298) Fully amortized portion — — 750 — Balance, end of period (64,219) (96,191) (64,219) (96,191) Net CDI and CRI, end of period $ 26,581 $ 37,659 $ 26,581 $ 37,659 |
Other Assets
Other Assets | 3 Months Ended | 6 Months Ended |
Jun. 30, 2023 | Jun. 30, 2023 | |
Other Assets [Abstract] | ||
Other Assets | OTHER ASSETS The following table presents the detail of our other assets as of the dates indicated: June 30, December 31, Other Assets 2023 2022 (In thousands) LIHTC investments $ 320,154 $ 328,555 Cash surrender value of BOLI 206,812 207,797 Interest receivable 137,863 157,109 Operating lease ROU assets, net (1) 119,527 126,255 Taxes receivable 90,495 89,924 SBIC investments 72,351 62,227 Equity investments without readily determinable fair values 64,944 63,280 Prepaid expenses 52,342 26,752 Equity warrants (2) 3,883 4,048 Equity investments with readily determinable fair values 1 1 Other receivables/assets 151,227 148,834 Total other assets $ 1,219,599 $ 1,214,782 ____________________ (1) See Note 8. Leases for further details regarding the operating lease ROU assets. (2) See Note 10. Derivatives for information regarding equity warrants. | |
Stock-Based Compensation | STOCKHOLDERS' EQUITY 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 issue up to 6,650,000 shares. As of June 30, 2023, there were 1,869,341 sh ares available for grant under the Amended and Restated 2017 Plan. Restricted Stock Restricted stock amortization totaled $7.7 million and $9.0 million for the three months ended June 30, 2023 and 2022 and $12.7 million and $16.5 million for the six months ended June 30, 2023 and 2022. Such amounts are included in "Compensation expense" on the condensed consolidated statements of earnings. The amount of unrecognized compensation expense related to unvested TRSAs and PRSUs as of June 30, 2023 totaled $55.3 million . Time-Based Restricted Stock Awards At June 30, 2023, there wer e 1,626,235 sh ar es of unvested TRSAs outstanding. TRSAs generally vest ratably over a service period of three Performance-Based Restricted Stock Units At June 30, 2023, there were 656,049 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 200% of target. Compensation expense related to PRSUs is based on the fair value of the underlying award on the grant date and is amortized over the vesting period using the straight-line method unless it is determined that: (1) attainment of the financial metrics is less than probable, in which case a portion or all of the amortization is suspended, or (2) attainment of the financial metrics is improbable, in which case a portion or all of the previously recognized amortization is reversed and also suspended. If it is determined that attainment of a financial measure higher than target is probable, the amortization will increase to up to 200% of the target amortization amount. Annual PRSU expense may vary during the three-year performance period based upon changes in management's estimate of the number of shares that may ultimately vest. In the case where the performance target for the PRSU is based on a market condition (such as total shareholder return), the amortization is neither reversed nor suspended if it is subsequently determined that the attainment of the performance target is less than probable or improbable and the employee continues to meet the service requirement of the award. Preferred Stock At June 30, 2023, our preferred stock of $498.5 million represents 20,530,000 depositary shares (the “Depositary Shares”), each representing a 1/40th ownership interest in a share of the Company’s 7.75% fixed rate reset non-cumulative, non-convertible, perpetual preferred stock, Series A, par value $0.01 per share (the “Series A preferred stock”), with a liquidation preference of $1,000 per share of Series A preferred stock (equivalent to $25.00 per Depositary Share). The Series A preferred stock qualifies as Tier 1 capital for purposes of regulatory capital calculations. The Series A preferred stock is perpetual and has no maturity date. |
Leases
Leases | 6 Months Ended |
Jun. 30, 2023 | |
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. The following table presents the components of lease expense for the periods indicated: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 (In thousands) Operating lease expense: Fixed costs $ 8,421 $ 9,042 $ 16,169 $ 17,521 Variable costs 30 36 65 59 Short-term lease costs 265 379 622 743 Sublease income (533) (1,077) (1,245) (2,153) Net lease expense $ 8,183 $ 8,380 $ 15,611 $ 16,170 The following table presents supplemental cash flow information related to leases for the periods indicated: Six Months Ended June 30, 2023 2022 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 18,247 $ 17,574 ROU assets obtained in exchange for lease obligations: Operating leases $ 9,706 $ 23,804 The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated: June 30, December 31, 2023 2022 (Dollars in thousands) Operating leases: Operating lease right-of-use assets, net $ 119,527 $ 126,255 Operating lease liabilities $ 140,234 $ 148,401 Weighted average remaining lease term (in years) 6.5 6.6 Weighted average discount rate 2.67 % 2.64 % The following table presents the maturities of operating lease liabilities as of the date indicated: June 30, 2023 (In thousands) Period ending December 31, 2023 $ 15,258 2024 30,108 2025 26,515 2026 21,534 2027 15,376 Thereafter 47,451 Total operating lease liabilities 156,242 Less: Imputed interest (16,008) Present value of operating lease liabilities $ 140,234 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, 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. The equipment is tested periodically for impairment. No impairment was recorded on "Equipment leased to others under operating leases" during the six months ended June 30, 2023 and 2022. The following table presents the rental payments to be received on operating leases as of the date indicated: June 30, 2023 (In thousands) Period ending December 31, 2023 $ 23,089 2024 49,487 2025 39,952 2026 33,848 2027 25,786 Thereafter 79,739 Total undiscounted cash flows $ 251,901 |
Leases | LEASES Operating Leases as a Lessee Our lease expense is a component of "Occupancy expense" on our condensed consolidated statements of earnings. The following table presents the components of lease expense for the periods indicated: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 (In thousands) Operating lease expense: Fixed costs $ 8,421 $ 9,042 $ 16,169 $ 17,521 Variable costs 30 36 65 59 Short-term lease costs 265 379 622 743 Sublease income (533) (1,077) (1,245) (2,153) Net lease expense $ 8,183 $ 8,380 $ 15,611 $ 16,170 The following table presents supplemental cash flow information related to leases for the periods indicated: Six Months Ended June 30, 2023 2022 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 18,247 $ 17,574 ROU assets obtained in exchange for lease obligations: Operating leases $ 9,706 $ 23,804 The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated: June 30, December 31, 2023 2022 (Dollars in thousands) Operating leases: Operating lease right-of-use assets, net $ 119,527 $ 126,255 Operating lease liabilities $ 140,234 $ 148,401 Weighted average remaining lease term (in years) 6.5 6.6 Weighted average discount rate 2.67 % 2.64 % The following table presents the maturities of operating lease liabilities as of the date indicated: June 30, 2023 (In thousands) Period ending December 31, 2023 $ 15,258 2024 30,108 2025 26,515 2026 21,534 2027 15,376 Thereafter 47,451 Total operating lease liabilities 156,242 Less: Imputed interest (16,008) Present value of operating lease liabilities $ 140,234 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, 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. The equipment is tested periodically for impairment. No impairment was recorded on "Equipment leased to others under operating leases" during the six months ended June 30, 2023 and 2022. The following table presents the rental payments to be received on operating leases as of the date indicated: June 30, 2023 (In thousands) Period ending December 31, 2023 $ 23,089 2024 49,487 2025 39,952 2026 33,848 2027 25,786 Thereafter 79,739 Total undiscounted cash flows $ 251,901 |
Borrowings and Subordinated Deb
Borrowings and Subordinated Debentures | 6 Months Ended |
Jun. 30, 2023 | |
Debt Disclosure [Abstract] | |
Borrowings and Subordinated Debentures | BORROWINGS AND SUBORDINATED DEBT Borrowings The following table summarizes our borrowings as of the dates indicated: June 30, 2023 December 31, 2022 Weighted Weighted Average Average Balance Rate Balance Rate (Dollars in thousands) Bank Term Funding Program $ 4,910,000 4.38 % $ — — % Repurchase agreement (1) 1,324,273 8.50 % — — % Credit-linked notes 123,065 15.77 % 132,030 14.56 % FHLB secured advances — — % 1,270,000 4.62 % AFX short-term borrowings — — % 250,000 4.68 % FHLB unsecured overnight advance — — % 112,000 4.37 % Total borrowings $ 6,357,338 5.46 % $ 1,764,030 5.36 % ___________________ (1) Balance is net of unamortized issuance costs of $14.3 million and $2.7 million of accrued exit fees. Rate calculation does not include the effects of issuance costs and exit fees. 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 June 30, 2023 of $4.7 billion, collateralized by a blanket lien on $9.2 billion of qualifying loans and $21.6 million of securities. As of June 30, 2023, there were no balances outstanding. As of December 31, 2022, the balance outstanding was $1.3 billion, which consisted of an overnight advance and two term advances with maturity dates of January 2023 and February 2023. FRBSF Secured Line of Credit. The Bank has a secured line of credit with the FRBSF. As of June 30, 2023, the Bank had secured borrowing capacity of $6.6 billion collateralized by liens covering $7.0 billion of qualifying loans and $1.4 billion of securities. As of June 30, 2023 and December 31, 2022, there were no balances outstanding. FRBSF Bank Term Funding Program. In March of 2023, the Bank participated in the FRBSF Bank Term Funding Program. As of June 30, 2023, the Bank had secured borrowing capacity of $5.0 billion collateralized by the par value of pledged securities totaling $5.0 billion. As of June 30, 2023, the balance outstanding was $4.9 billion consisting of two term advances maturing in March 2024. Repurchase Agreement. In March of 2023, the Bank entered into a repurchase agreement through which it borrowed $1.4 billion that was collateralized by loans with a principal balance of $2.1 billion. In connection with this borrowing, the Bank incurred $17.9 million of issuance costs and accrued $0.4 million in exit fees. The repurchase agreement is to be repaid with collections on the underlying loans. The repurchase agreement has a term of 18 months, under which the interest rate is 8.50% for amounts outstanding during the first nine months and 8.75% for amounts outstanding during the last nine months. The Bank has the option to pay off the repurchase agreement after the first nine months. Per the terms of the agreement, a reserve account equal to 1.5% of the facility commitment amount was deposited with a third-party bank to be used for certain purposes. Any remaining funds will be returned to PacWest at the time of payoff or maturity of the facility. At June 30, 2023, the borrowing amount outstanding was $1.3 billion collateralized by loans with a principal balance of $2.1 billion. Credit-Linked Notes. The notes were issued in five classes, each with an interest rate of SOFR plus a spread that ranges from 8.00% to 13.25%, with a weighted average spread of 10.70% at June 30, 2023. The notes are linked to the credit risk of an approximately $2.55 billion reference pool of previously purchased single-family residential mortgage loans at June 30, 2023. The notes are due June 27, 2052. Principal payments on the notes are based only on scheduled and unscheduled principal that is actually collected on these loans. The notes are reported at fair value of $123.1 million at June 30, 2023. See Note 12. Fair Value Option for additional information. Federal Funds Arrangements with Commercial Banks. As of June 30, 2023, the Bank had unsecured lines of credit of $100.0 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 June 30, 2023 and December 31, 2022, 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 June 30, 2023, there was no balance outstanding. As of December 31, 2022, the balance outstanding was $250.0 million, which consisted of $250.0 million in overnight borrowings. Subordinated Debt The following table summarizes the terms of each issuance of subordinated debt outstanding as of the dates indicated: June 30, 2023 December 31, 2022 Date Maturity Rate Index Series Balance Rate (1) Balance Rate (1) Issued Date (Quarterly Reset) (6) (Dollars in thousands) Subordinated notes, net (2) $ 395,391 3.25 % $ 395,134 3.25 % 4/30/2021 5/1/2031 Fixed rate (3) Trust V 10,310 8.61 % 10,310 7.84 % 8/15/2003 9/17/2033 3-month LIBOR + 3.10 Trust VI 10,310 8.60 % 10,310 7.82 % 9/3/2003 9/15/2033 3-month LIBOR + 3.05 Trust CII 5,155 8.46 % 5,155 7.69 % 9/17/2003 9/17/2033 3-month LIBOR + 2.95 Trust VII 61,856 8.05 % 61,856 7.16 % 2/5/2004 4/23/2034 3-month LIBOR + 2.75 Trust CIII 20,619 7.24 % 20,619 6.46 % 8/15/2005 9/15/2035 3-month LIBOR + 1.69 Trust FCCI 16,495 7.15 % 16,495 6.37 % 1/25/2007 3/15/2037 3-month LIBOR + 1.60 Trust FCBI 10,310 7.10 % 10,310 6.32 % 9/30/2005 12/15/2035 3-month LIBOR + 1.55 Trust CS 2005-1 82,475 7.50 % 82,475 6.72 % 11/21/2005 12/15/2035 3-month LIBOR + 1.95 Trust CS 2005-2 128,866 7.25 % 128,866 6.36 % 12/14/2005 1/30/2036 3-month LIBOR + 1.95 Trust CS 2006-1 51,545 7.25 % 51,545 6.36 % 2/22/2006 4/30/2036 3-month LIBOR + 1.95 Trust CS 2006-2 51,550 7.25 % 51,550 6.36 % 9/27/2006 10/30/2036 3-month LIBOR + 1.95 Trust CS 2006-3 (4) 28,118 5.30 % 27,592 3.66 % 9/29/2006 10/30/2036 3-month EURIBOR + 2.05 Trust CS 2006-4 16,470 7.25 % 16,470 6.36 % 12/5/2006 1/30/2037 3-month LIBOR + 1.95 Trust CS 2006-5 6,650 7.25 % 6,650 6.36 % 12/19/2006 1/30/2037 3-month LIBOR + 1.95 Trust CS 2007-2 39,177 7.25 % 39,177 6.36 % 6/13/2007 7/30/2037 3-month LIBOR + 1.95 Total subordinated debt 935,297 5.60 % 934,514 5.08 % Acquisition discount (5) (64,919) (67,427) Net subordinated debt $ 870,378 $ 867,087 ___________________ (1) Rates do not include the effects of discounts and issuance costs. (2) Net of unamortized issuance costs of $4.6 million. (3) Interest rate is fixed until May 1, 2026, when it changes to a floating rate and resets quarterly at a benchmark rate plus 252 basis points. (4) Denomination is in Euros with a value of €25.8 million. (5) Amount represents the fair value adjustment on trust preferred securities assumed in acquisitions. (6) On July 1, 2023, interest rate will transition to term SOFR plus the relevant spread adjustment as the applicable benchmark upon the cessation of LIBOR on June 30, 2023. |
Derivatives
Derivatives | 6 Months Ended |
Jun. 30, 2023 | |
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: June 30, 2023 December 31, 2022 Notional Fair Notional Fair Derivatives Not Designated As Hedging Instruments Amount Value Amount Value (In thousands) Derivative Assets: Interest rate contracts $ 107,169 $ 5,467 $ 108,451 $ 6,013 Foreign exchange contracts 37,118 2,292 37,029 1,801 Interest rate and economic contracts 144,287 7,759 145,480 7,814 Equity warrant assets 17,196 3,883 18,209 4,048 Total $ 161,483 $ 11,642 $ 163,689 $ 11,862 Derivative Liabilities: Interest rate contracts $ 107,169 $ 5,328 $ 108,451 $ 5,825 Foreign exchange contracts 37,118 166 37,029 81 Total $ 144,287 $ 5,494 $ 145,480 $ 5,906 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 | 6 Months Ended |
Jun. 30, 2023 | |
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: June 30, December 31, 2023 2022 (In thousands) Loan commitments to extend credit $ 5,845,375 $ 11,110,264 Standby letters of credit 300,557 320,886 Total $ 6,145,932 $ 11,431,150 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 $37.6 million at June 30, 2023 and $91.1 million at December 31, 2022. 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 June 30, 2023 and December 31, 2022, we had commitments to contribute capital to these entities totaling $78.0 million and $76.9 million. The following table presents the years in which commitments are expected to be paid for our commitments to contribute capital to SBICs and CRA-related loan pools as of the date indicated: June 30, 2023 (In thousands) Period ending December 31, 2023 $ 43,161 2024 34,869 Total $ 78,030 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 Election
Fair Value Election | 6 Months Ended |
Jun. 30, 2023 | |
Fair Value Election [Abstract] | |
Fair Value Disclosures [Text Block] | FAIR VALUE MEASUREMENTS The Company uses fair value to measure certain assets and liabilities on a recurring basis, primarily securities available-for-sale, derivatives, and certain debt liabilities. 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 15. 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 June 30, 2023, the fair value of these investments was $72.4 million. The following tables present information on the assets and liabilities measured and recorded at fair value on a recurring basis as of the dates indicated: Fair Value Measurements as of June 30, 2023 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available-for-sale: Agency residential MBS $ 2,168,613 $ — $ 2,168,613 $ — U.S. Treasury securities 673,083 673,083 — — Agency commercial MBS 479,957 — 479,957 — Agency residential CMOs 439,227 — 439,227 — Municipal securities 342,789 — 342,789 — Corporate debt securities 280,513 — 273,523 6,990 Private label residential CMOs 159,507 — 159,507 — Collateralized loan obligations 104,823 — 104,823 — Private label commercial MBS 23,200 — 23,200 — Asset-backed securities 21,725 — 21,725 — SBA securities 15,082 — 15,082 — Total securities available-for-sale $ 4,708,519 $ 673,083 $ 4,028,446 $ 6,990 Equity investments with readily determinable fair values $ 1 $ 1 $ — $ — Derivatives (1) : Equity warrants 3,883 — — 3,883 Interest rate and economic contracts 7,759 — 7,759 — Derivative liabilities 5,494 — 5,494 — Credit-linked notes 123,065 — — 123,065 Fair Value Measurements as of December 31, 2022 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available-for-sale: Agency residential MBS $ 2,242,042 $ — $ 2,242,042 $ — U.S. Treasury securities 670,070 670,070 — — Agency commercial MBS 487,606 — 487,606 — Agency residential CMOs 457,063 — 457,063 — Municipal securities 339,326 — 339,326 — Corporate debt securities 311,905 — 311,905 — Private label residential CMOs 166,724 — 166,724 — Collateralized loan obligations 102,261 — 102,261 — Private label commercial MBS 26,827 — 26,827 — Asset-backed securities 22,413 — 22,413 — SBA securities 17,250 — 17,250 — Total securities available-for-sale $ 4,843,487 $ 670,070 $ 4,173,417 $ — Equity investments with readily determinable fair values $ 1 $ 1 $ — $ — Derivatives (1) : Equity warrants 4,048 — — 4,048 Interest rate and economic contracts 7,814 — 7,814 — Derivative liabilities 5,906 — 5,906 — Credit-linked notes 132,030 — — 132,030 ____________________ (1) For information regarding derivative instruments, see Note 10. Derivatives . During the six months ended June 30, 2023, there was a $36,000 transfer from Level 3 equity warrants to Level 1 equity investments with readily determinable fair values measured on a recurring basis. There was also an $8.8 million transfer of corporate debt securities from Level 2 to Level 3 during the six months ended June 30, 2023. 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 corporate debt securities available-for-sale measured at fair value on a recurring basis as of the date indicated: June 30, 2023 Corporate Debt Securities Input or Weighted Range Average Unobservable Inputs of Inputs Input (1) Spread to 10 Year Treasury 4.0% - 6.9% 5.5% Discount rates 7.9% - 10.8% 9.4% ____________________ (1) Unobservable inputs for corporate debt securities were weighted by the relative fair values of the instruments. 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: June 30, 2023 Equity Warrants Weighted Range Average Unobservable Inputs of Inputs Input (1) Volatility 19.8% - 153.3% 27.5% Risk-free interest rate 4.1% - 5.5% 4.6% Remaining life assumption (in years) 0.08 - 5.00 3.25 ____________________ (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 commercial MBS available-for-sale, equity warrants, and credit-linked notes measured at fair value on a recurring basis for the period indicated: Corporate Equity Credit-Linked Debt Securities Warrants Notes (In thousands) Balance, December 31, 2022 $ — $ 4,048 $ 132,030 Total included in earnings — (457) (1,526) Total included in other comprehensive income (loss) (1,760) — (4,057) Issuances — 390 — Principal payments — — (3,382) Transfer from Level 2 8,750 — Exercises and settlements — (62) — Transfers to Level 1 (equity investments with readily determinable fair values) — (36) — Balance, June 30, 2023 $ 6,990 $ 3,883 $ 123,065 Unrealized net gains (losses) for the period included in other comprehensive income for securities held at quarter-end $ (1,760) The following tables present assets measured at fair value on a non-recurring basis as of the dates indicated: Fair Value Measurement as of June 30, 2023 Measured on a Non-Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases $ 25,122 $ — $ 21,882 $ 3,240 OREO 999 — 999 — Total non-recurring $ 26,121 $ — $ 22,881 $ 3,240 Fair Value Measurement as of December 31, 2022 Measured on a Non-Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases $ 34,077 $ — $ 28,065 $ 6,012 OREO 47 — 47 — Total non-recurring $ 34,124 $ — $ 28,112 $ 6,012 The following table presents losses recognized on assets measured on a nonrecurring basis for the periods indicated: Three Months Ended Six Months Ended Losses on Assets June 30, June 30, Measured on a Non-Recurring Basis 2023 2022 2023 2022 (In thousands) Individually evaluated loans and leases $ 925 $ 1,569 $ 4,946 $ 1,584 OREO 158 — 158 — Total losses $ 1,083 $ 1,569 $ 5,104 $ 1,584 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: June 30, 2023 Valuation Unobservable Input or Weighted Asset Fair Value Technique Inputs Range Average (Dollars in thousands) Individually evaluated loans and leases 3,240 Third party appraisals No discounts Total non-recurring Level 3 $ 3,240 The following tables present carrying amounts and estimated fair values of certain financial instruments as of the dates indicated: June 30, 2023 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 208,300 $ 208,300 $ 208,300 $ — $ — Interest-earning deposits in financial institutions 6,489,847 6,489,847 6,489,847 — — Securities available-for-sale 4,708,519 4,708,519 673,083 4,028,446 6,990 Securities held-to-maturity 2,278,202 2,120,812 172,594 1,943,686 4,532 Investment in FHLB stock 17,250 17,250 — 17,250 — Loans held for sale 478,146 480,432 — 480,432 — Loans and leases held for investment, net 22,038,976 20,327,864 — 21,882 20,305,982 Equity investments with readily determinable fair values 1 1 1 — — Equity warrants 3,883 3,883 — — 3,883 Interest rate and economic contracts 7,759 7,759 — 7,759 — Servicing rights 1,085 1,085 — — 1,085 Financial Liabilities: Demand, checking, money market, and savings deposits 19,743,765 19,743,765 — 19,743,765 — Time deposits 8,153,318 8,208,911 — 8,208,911 — Borrowings 6,357,338 6,316,443 4,869,105 — 1,447,338 Subordinated debt 870,378 823,867 — 823,867 — Derivative liabilities 5,494 5,494 — 5,494 — December 31, 2022 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 212,273 $ 212,273 $ 212,273 $ — $ — Interest-earning deposits in financial institutions 2,027,949 2,027,949 2,027,949 — — Securities available-for-sale 4,843,487 4,843,487 670,070 4,173,417 — Securities held-to-maturity 2,269,135 2,110,472 171,700 1,938,772 — Investment in FHLB stock 34,290 34,290 — 34,290 — Loans held for sale 65,076 65,501 — 65,501 — Loans and leases held for investment, net 28,408,397 26,627,985 — 28,065 26,599,920 Equity investments with readily determinable fair values 1 1 1 — — Equity warrants 4,048 4,048 — — 4,048 Interest rate and economic contracts 7,814 7,814 — 7,814 — Servicing rights 633 633 — — 633 Financial Liabilities: Demand, checking, money market, and savings deposits 29,198,491 29,198,491 — 29,198,491 — Time deposits 4,737,843 4,700,054 — 4,700,054 — Borrowings 1,764,030 1,764,037 882,000 750,007 132,030 Subordinated debt 867,087 870,534 — 870,534 — Derivative liabilities 5,906 5,906 — 5,906 — 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 June 30, 2023, the amounts that will actually be realized or paid at settlement or maturity of the instruments could be significantly different. |
Fair Value, Option | The following table presents the changes in fair value of the credit-linked notes for which the fair value option has been elected for the periods indicated: Three Months Ended Six Months Ended June 30, June 30, Credit-Linked Notes 2023 2022 2023 2022 (In thousands) Changes in fair value - gains (losses) $ (472) $ — $ 1,526 $ — Changes in fair value - other comprehensive income $ 4,057 $ — $ 4,057 $ — The following table provides information about the credit-linked notes carried at fair value as of the dates indicated: June 30, December 31, Credit-Linked Notes 2023 2022 (In thousands) Carrying value reported on the consolidated balance sheets $ 123,065 $ 132,030 Aggregate unpaid principal balance in excess of (less than) fair value 4,672 (911) |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2023 | |
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, derivatives, and certain debt liabilities. 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 15. 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 June 30, 2023, the fair value of these investments was $72.4 million. The following tables present information on the assets and liabilities measured and recorded at fair value on a recurring basis as of the dates indicated: Fair Value Measurements as of June 30, 2023 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available-for-sale: Agency residential MBS $ 2,168,613 $ — $ 2,168,613 $ — U.S. Treasury securities 673,083 673,083 — — Agency commercial MBS 479,957 — 479,957 — Agency residential CMOs 439,227 — 439,227 — Municipal securities 342,789 — 342,789 — Corporate debt securities 280,513 — 273,523 6,990 Private label residential CMOs 159,507 — 159,507 — Collateralized loan obligations 104,823 — 104,823 — Private label commercial MBS 23,200 — 23,200 — Asset-backed securities 21,725 — 21,725 — SBA securities 15,082 — 15,082 — Total securities available-for-sale $ 4,708,519 $ 673,083 $ 4,028,446 $ 6,990 Equity investments with readily determinable fair values $ 1 $ 1 $ — $ — Derivatives (1) : Equity warrants 3,883 — — 3,883 Interest rate and economic contracts 7,759 — 7,759 — Derivative liabilities 5,494 — 5,494 — Credit-linked notes 123,065 — — 123,065 Fair Value Measurements as of December 31, 2022 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available-for-sale: Agency residential MBS $ 2,242,042 $ — $ 2,242,042 $ — U.S. Treasury securities 670,070 670,070 — — Agency commercial MBS 487,606 — 487,606 — Agency residential CMOs 457,063 — 457,063 — Municipal securities 339,326 — 339,326 — Corporate debt securities 311,905 — 311,905 — Private label residential CMOs 166,724 — 166,724 — Collateralized loan obligations 102,261 — 102,261 — Private label commercial MBS 26,827 — 26,827 — Asset-backed securities 22,413 — 22,413 — SBA securities 17,250 — 17,250 — Total securities available-for-sale $ 4,843,487 $ 670,070 $ 4,173,417 $ — Equity investments with readily determinable fair values $ 1 $ 1 $ — $ — Derivatives (1) : Equity warrants 4,048 — — 4,048 Interest rate and economic contracts 7,814 — 7,814 — Derivative liabilities 5,906 — 5,906 — Credit-linked notes 132,030 — — 132,030 ____________________ (1) For information regarding derivative instruments, see Note 10. Derivatives . During the six months ended June 30, 2023, there was a $36,000 transfer from Level 3 equity warrants to Level 1 equity investments with readily determinable fair values measured on a recurring basis. There was also an $8.8 million transfer of corporate debt securities from Level 2 to Level 3 during the six months ended June 30, 2023. 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 corporate debt securities available-for-sale measured at fair value on a recurring basis as of the date indicated: June 30, 2023 Corporate Debt Securities Input or Weighted Range Average Unobservable Inputs of Inputs Input (1) Spread to 10 Year Treasury 4.0% - 6.9% 5.5% Discount rates 7.9% - 10.8% 9.4% ____________________ (1) Unobservable inputs for corporate debt securities were weighted by the relative fair values of the instruments. 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: June 30, 2023 Equity Warrants Weighted Range Average Unobservable Inputs of Inputs Input (1) Volatility 19.8% - 153.3% 27.5% Risk-free interest rate 4.1% - 5.5% 4.6% Remaining life assumption (in years) 0.08 - 5.00 3.25 ____________________ (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 commercial MBS available-for-sale, equity warrants, and credit-linked notes measured at fair value on a recurring basis for the period indicated: Corporate Equity Credit-Linked Debt Securities Warrants Notes (In thousands) Balance, December 31, 2022 $ — $ 4,048 $ 132,030 Total included in earnings — (457) (1,526) Total included in other comprehensive income (loss) (1,760) — (4,057) Issuances — 390 — Principal payments — — (3,382) Transfer from Level 2 8,750 — Exercises and settlements — (62) — Transfers to Level 1 (equity investments with readily determinable fair values) — (36) — Balance, June 30, 2023 $ 6,990 $ 3,883 $ 123,065 Unrealized net gains (losses) for the period included in other comprehensive income for securities held at quarter-end $ (1,760) The following tables present assets measured at fair value on a non-recurring basis as of the dates indicated: Fair Value Measurement as of June 30, 2023 Measured on a Non-Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases $ 25,122 $ — $ 21,882 $ 3,240 OREO 999 — 999 — Total non-recurring $ 26,121 $ — $ 22,881 $ 3,240 Fair Value Measurement as of December 31, 2022 Measured on a Non-Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases $ 34,077 $ — $ 28,065 $ 6,012 OREO 47 — 47 — Total non-recurring $ 34,124 $ — $ 28,112 $ 6,012 The following table presents losses recognized on assets measured on a nonrecurring basis for the periods indicated: Three Months Ended Six Months Ended Losses on Assets June 30, June 30, Measured on a Non-Recurring Basis 2023 2022 2023 2022 (In thousands) Individually evaluated loans and leases $ 925 $ 1,569 $ 4,946 $ 1,584 OREO 158 — 158 — Total losses $ 1,083 $ 1,569 $ 5,104 $ 1,584 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: June 30, 2023 Valuation Unobservable Input or Weighted Asset Fair Value Technique Inputs Range Average (Dollars in thousands) Individually evaluated loans and leases 3,240 Third party appraisals No discounts Total non-recurring Level 3 $ 3,240 The following tables present carrying amounts and estimated fair values of certain financial instruments as of the dates indicated: June 30, 2023 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 208,300 $ 208,300 $ 208,300 $ — $ — Interest-earning deposits in financial institutions 6,489,847 6,489,847 6,489,847 — — Securities available-for-sale 4,708,519 4,708,519 673,083 4,028,446 6,990 Securities held-to-maturity 2,278,202 2,120,812 172,594 1,943,686 4,532 Investment in FHLB stock 17,250 17,250 — 17,250 — Loans held for sale 478,146 480,432 — 480,432 — Loans and leases held for investment, net 22,038,976 20,327,864 — 21,882 20,305,982 Equity investments with readily determinable fair values 1 1 1 — — Equity warrants 3,883 3,883 — — 3,883 Interest rate and economic contracts 7,759 7,759 — 7,759 — Servicing rights 1,085 1,085 — — 1,085 Financial Liabilities: Demand, checking, money market, and savings deposits 19,743,765 19,743,765 — 19,743,765 — Time deposits 8,153,318 8,208,911 — 8,208,911 — Borrowings 6,357,338 6,316,443 4,869,105 — 1,447,338 Subordinated debt 870,378 823,867 — 823,867 — Derivative liabilities 5,494 5,494 — 5,494 — December 31, 2022 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 212,273 $ 212,273 $ 212,273 $ — $ — Interest-earning deposits in financial institutions 2,027,949 2,027,949 2,027,949 — — Securities available-for-sale 4,843,487 4,843,487 670,070 4,173,417 — Securities held-to-maturity 2,269,135 2,110,472 171,700 1,938,772 — Investment in FHLB stock 34,290 34,290 — 34,290 — Loans held for sale 65,076 65,501 — 65,501 — Loans and leases held for investment, net 28,408,397 26,627,985 — 28,065 26,599,920 Equity investments with readily determinable fair values 1 1 1 — — Equity warrants 4,048 4,048 — — 4,048 Interest rate and economic contracts 7,814 7,814 — 7,814 — Servicing rights 633 633 — — 633 Financial Liabilities: Demand, checking, money market, and savings deposits 29,198,491 29,198,491 — 29,198,491 — Time deposits 4,737,843 4,700,054 — 4,700,054 — Borrowings 1,764,030 1,764,037 882,000 750,007 132,030 Subordinated debt 867,087 870,534 — 870,534 — Derivative liabilities 5,906 5,906 — 5,906 — 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 June 30, 2023, 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 | 6 Months Ended |
Jun. 30, 2023 | |
Earnings Per Share [Abstract] | |
Earnings (Loss) Per Share | EARNINGS PER COMMON SHARE The following table presents the computations of basic and diluted net earnings per common share for the periods indicated: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 (Dollars in thousands, except per share data) Basic Earnings Per Common Share: Net (loss) earnings $ (197,414) $ 122,360 $ (1,392,838) $ 242,488 Less: Preferred stock dividends (9,947) — (19,894) — Net (loss) earnings available to common stockholders (207,361) 122,360 (1,412,732) 242,488 Less: Earnings allocated to unvested restricted stock (1) 82 (2,351) (238) (4,389) Net (loss) earnings allocated to common shares $ (207,279) $ 120,009 $ (1,412,970) $ 238,099 Weighted-average basic shares and unvested restricted stock outstanding 120,275 120,022 120,257 119,810 Less: Weighted-average unvested restricted stock outstanding (2,020) (2,460) (2,163) (2,354) Weighted-average basic shares outstanding 118,255 117,562 118,094 117,456 Basic (loss) earnings per common share $ (1.75) $ 1.02 $ (11.96) $ 2.03 Diluted Earnings Per Common Share: Net (loss) earnings allocated to common shares $ (207,279) $ 120,009 $ (1,412,970) $ 238,099 Weighted-average diluted shares outstanding 118,255 117,562 118,094 117,456 Diluted (loss) earnings per common share $ (1.75) $ 1.02 $ (11.96) $ 2.03 ________________________ (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 | 6 Months Ended |
Jun. 30, 2023 | |
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 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 June 30, 2023 2023 2022 Total Revenue from Total Revenue from Recorded Contracts with Recorded Contracts with Revenue Customers Revenue Customers (In thousands) Total Interest Income $ 539,888 $ — $ 350,518 $ — Noninterest Income: Service charges on deposit accounts 4,315 4,315 3,634 3,634 Other commissions and fees 11,241 4,124 10,813 4,001 Leased equipment income 22,387 — 12,335 — (Loss) gain on sale of loans (158,881) — 12 — Loss on sale of securities — — (1,209) — Dividends and gains on equity investments 2,658 — 4,097 — Warrant (loss) income (124) — 1,615 — LOCOM HFS adjustment (11,943) — — — Other income 2,265 240 3,049 65 Total noninterest (loss) income (128,082) 8,679 34,346 7,700 Total Revenue $ 411,806 $ 8,679 $ 384,864 $ 7,700 The following table presents revenue from contracts with customers based on the timing of revenue recognition for the periods indicated: Three Months Ended June 30, 2023 2022 (In thousands) Products and services transferred at a point in time $ 3,849 $ 3,771 Products and services transferred over time 4,830 3,929 Total revenue from contracts with customers $ 8,679 $ 7,700 Six Months Ended June 30, 2023 2022 Total Revenue from Total Revenue from Recorded Contracts with Recorded Contracts with Revenue Customers Revenue Customers (In thousands) Total Interest Income $ 1,057,676 $ — $ 673,422 $ — Noninterest Income: Service charges on deposit accounts 7,888 7,888 7,205 7,205 Other commissions and fees 21,585 8,555 22,393 7,774 Leased equipment income 36,244 — 25,429 — (Loss) gain on sale of loans (155,919) — 72 — Loss on sale of securities — — (1,105) — Dividends and (losses) gains on equity investments 3,756 — (7,278) — Warrant (loss) income (457) — 2,244 — LOCOM HFS adjustment (11,943) — — — Other income 7,155 510 6,204 63 Total noninterest (loss) income (91,691) 16,953 55,164 15,042 Total Revenue $ 965,985 $ 16,953 $ 728,586 $ 15,042 The following table presents revenue from contracts with customers based on the timing of revenue recognition for the periods indicated: Six Months Ended June 30, 2023 2022 (In thousands) Products and services transferred at a point in time $ 8,201 $ 7,697 Products and services transferred over time 8,752 7,345 Total revenue from contracts with customers $ 16,953 $ 15,042 Contract Balances The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers as of the dates indicated: June 30, 2023 December 31, 2022 (In thousands) Receivables, which are included in "Other assets" $ 1,548 $ 1,403 Contract liabilities, which are included in "Accrued interest payable and other liabilities" $ 453 $ 488 |
Stockholders' Equity
Stockholders' Equity | 3 Months Ended |
Jun. 30, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Stock-Based Compensation | STOCKHOLDERS' EQUITY 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 issue up to 6,650,000 shares. As of June 30, 2023, there were 1,869,341 sh ares available for grant under the Amended and Restated 2017 Plan. Restricted Stock Restricted stock amortization totaled $7.7 million and $9.0 million for the three months ended June 30, 2023 and 2022 and $12.7 million and $16.5 million for the six months ended June 30, 2023 and 2022. Such amounts are included in "Compensation expense" on the condensed consolidated statements of earnings. The amount of unrecognized compensation expense related to unvested TRSAs and PRSUs as of June 30, 2023 totaled $55.3 million . Time-Based Restricted Stock Awards At June 30, 2023, there wer e 1,626,235 sh ar es of unvested TRSAs outstanding. TRSAs generally vest ratably over a service period of three Performance-Based Restricted Stock Units At June 30, 2023, there were 656,049 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 200% of target. Compensation expense related to PRSUs is based on the fair value of the underlying award on the grant date and is amortized over the vesting period using the straight-line method unless it is determined that: (1) attainment of the financial metrics is less than probable, in which case a portion or all of the amortization is suspended, or (2) attainment of the financial metrics is improbable, in which case a portion or all of the previously recognized amortization is reversed and also suspended. If it is determined that attainment of a financial measure higher than target is probable, the amortization will increase to up to 200% of the target amortization amount. Annual PRSU expense may vary during the three-year performance period based upon changes in management's estimate of the number of shares that may ultimately vest. In the case where the performance target for the PRSU is based on a market condition (such as total shareholder return), the amortization is neither reversed nor suspended if it is subsequently determined that the attainment of the performance target is less than probable or improbable and the employee continues to meet the service requirement of the award. Preferred Stock At June 30, 2023, our preferred stock of $498.5 million represents 20,530,000 depositary shares (the “Depositary Shares”), each representing a 1/40th ownership interest in a share of the Company’s 7.75% fixed rate reset non-cumulative, non-convertible, perpetual preferred stock, Series A, par value $0.01 per share (the “Series A preferred stock”), with a liquidation preference of $1,000 per share of Series A preferred stock (equivalent to $25.00 per Depositary Share). The Series A preferred stock qualifies as Tier 1 capital for purposes of regulatory capital calculations. The Series A preferred stock is perpetual and has no maturity date. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards | 6 Months Ended |
Jun. 30, 2023 | |
Recently Issued Accounting Standards [Abstract] | |
Recently Issued Accounting Standards | RECENTLY ISSUED ACCOUNTING STANDARDS |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2023 | |
Subsequent Events [Abstract] | |
Subsequent Events | SUBSEQUENT EVENTS Banc of California, Inc. Merger Agreement On July 25, 2023, PacWest announced the signing of a definitive agreement and plan of merger whereby PacWest will merge with Banc of California, Inc. ("Banc" and following the merger, the "combined company") (the "merger"). Upon the terms and subject to the conditions set forth in the merger agreement, at closing each share of common stock of PacWest issued and outstanding immediately prior to the closing (subject to certain exceptions) will be converted into the right to receive 0.6569 of a share of common stock of Banc. In addition, in connection with the closing, each share of Series A preferred stock will be converted into the right to receive one share of a newly created series of preferred stock of Banc having such powers, preferences and rights, and such qualifications, limitations and restrictions, taken as a whole, that are not materially less favorable to the holders of the Series A preferred stock. Concurrently with its entry into the merger agreement, Banc entered into separate investment agreements with affiliates of funds managed by Warburg Pincus LLC (the "Warburg Investors") and certain investment vehicles sponsored, managed or advised by Centerbridge Partners, L.P. (the "Centerbridge Investors" and collectively with the Warburg Investors, the "Investors") to invest, substantially concurrently with the merger closing, in an aggregate of $400 million of shares of Banc common stock and Banc non-voting, common-equivalent stock, and Banc will issue to the investing parties warrants to purchase approximately 18.9 million shares of Banc non-voting, common-equivalent stock or shares of Banc common stock (collectively, the "equity investments"). Banc, headquartered in Santa Ana, California, is the parent of Banc of California, N.A., with $9.37 billion in assets with 33 offices including 27 full-service branches throughout Southern California at June 30, 2023. In connection with the merger, Banc of California, N.A. will merge with and into Pacific Western Bank, which will take the Banc of California name and apply to become a Federal Reserve member. The merger, which was approved by the PacWest and Banc boards of directors, is expected to close in the fourth quarter of 2023 or first quarter of 2024 and is subject to certain closing conditions, including the closing of the investments described above occurring substantially concurrently with the merger closing, receipt of required regulatory approvals and requisite approval by the stockholders of each company. Common Stock Dividends On August 2, 2023, the Company announced that the Board of Directors had declared a quarterly cash dividend of $0.01 per common share. The cash dividend is payable on August 31, 2023 to stockholders of record at the close of business on August 15, 2023. Preferred Stock Dividends On August 2, 2023, the Company announced that the Board of Directors had declared a quarterly cash dividend of $0.4845 per Depositary Share. The cash dividend is payable on September 1, 2023 to stockholders of record at the close of business on August 15, 2023. The Company has evaluated events that have occurred subsequent to June 30, 2023 and have concluded there are no other subsequent events that would require recognition in the accompanying condensed consolidated financial statements. |
Item 5. Other Information
Item 5. Other Information | 6 Months Ended |
Jun. 30, 2023 | |
Nonmonetary Transactions [Abstract] | |
Document Information | ITEM 5. OTHER INFORMATION Trading Arrangements During the quarter ended June 30, 2023, none of our directors or executive officers adopted or terminated a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement (in each case, as defined in Item 408 of Regulation S-K) for the purchase or sale of the Company’s securities. |
Organization Organization (Poli
Organization Organization (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
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 eport on Form 10-K for the year ended December 31, 2022 as filed with the Securities and Exchange Commission ("Form 10-K"). Updates to our significant accounting policies described below reflect the impact of the adoption of ASU 2022-02, " Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures ("ASU 2022-02") ," specifically the amendment to troubled debt restructurings, and organizational changes which resulted in changes to our reportable operating segments. Loan Modifications to Borrowers Experiencing Financial Difficulty Loan modifications made to borrowers experiencing financial difficulty constitute modifications of receivables in the form of principal forgiveness, an interest rate reduction, an other than-insignificant payment delay, or a term extension. ASU 2022-02 eliminated the concept of troubled debt restructurings and introduced broader modification reporting requirements. Previously, troubled debt restructurings included any type of modification that included a below market concession which was granted both to a borrower in financial difficulty and as a result of financial difficulty. Loan modifications made to borrowers experiencing financial difficulty no longer consider whether a market concession has been granted, as was required with troubled debt restructurings, but rather includes as modifications within the four listed reportable modification types to a borrower deemed to be experiencing financial difficulty. An assessment of whether a borrower is experiencing financial difficulty is made on the date of the modification. Loans reported in this classification have a rating of substandard or worse, and may include both accruing and nonaccruing loans. Loans are assessed to determine whether the modification constitutes a new loan or a continuation of the existing loan. Depending on the terms of the modification and nature of the borrower, this may result in a downgrade or placing a loan on nonaccrual status, which in turn would impact the loan's classification within the ALLL. Because the effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses because of the measurement methodologies used to estimate the allowance, a change to the allowance for credit losses is generally not recorded upon modification. |
Recently Issued Accounting Standards | Accounting Standards Adopted in 2023 Effective January 1, 2023, we completed the adoption of ASU 2022-02, “Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures," by eliminating the accounting guidance for TDRs by creditors, in ASC 310-40, " Receivables – Troubled Debt Restructurings by Creditors," while enhancing disclosure requirements for restructurings involving borrowers that are experiencing financial difficulty. The Company updated its disclosures in Note 4. Loans and Leases to present information regarding loan modifications to borrowers experiencing financial difficulty. There was no transition adjustment recorded to retained earnings upon adoption. The adoption of this amendment did not have a material impact on the Company’s condensed consolidated financial statements. Effective Effect on the Financial Statements Standard Description Date or Other Significant Matters ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions This standard clarifies that a contractual sale restriction is not considered in measuring an equity security at fair value. The standard also clarifies that an entity cannot recognize a contractual sale restriction as a separate unit of account, such as a contra-asset or liability. The standard requires new disclosures for all entities with equity securities subject to contractual sales restrictions. Additionally, early adoption is permitted. January 1, 2024 The Company does not take into account contractual sale restrictions in determining the fair value of its equity securities. The Company expects that this standard will not have a material impact on its consolidated financial statements. Effective Effect on the Financial Statements Standard Description Date or Other Significant Matters ASU 2023-02, I nvestments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method (a consensus of the Emerging Issues Task Force) This standard expands the proportional amortization method to account for investments in all tax credit structures. That accounting method was previously allowed only for low-income housing tax credit ("LIHTC") investments, but now is available, by election, to all community development tax credit investment reporting that meets five conditions. Under the new guidance, reporting entities can make accounting policy elections on a tax-credit-program-by-tax-credit-program basis, rather than for individual investments or at the reporting entity level. Additionally, early adoption is permitted. January 1, 2024 The Company is evaluating the impact of this standard on its consolidated financial statements. |
Basis of Presentation | Basis of Presentation |
Use of Estimates | Use of EstimatesWe have made a number of estimates and assumptions related to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period to prepare these condensed consolidated financial statements in conformity with U.S. GAAP. Actual results could differ from those estimates. Material estimates subject to change in the near term include, among other items, the allowance for credit losses (the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments), the carrying value of intangible assets, the fair value of loans held for sale, 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 certain of our loan portfolio classes and subclasses to better reflect and report our lending. We made the following changes: (1) moved the "Multi-family" loan subclass from the residential real estate mortgage class into its own loan class; (2) moved the "Construction - renovation" loan subclass from the residential real estate construction and land loan class to the residential real estate mortgage class and renamed it "Residential renovation;" and (3) renamed the residential real estate mortgage loan class as "Other residential." All of the loan and allowance tables, both current period and prior periods, reflect these changes and realignment. |
Fair Value Measures and Disclos
Fair Value Measures and Disclosures (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Election | FAIR VALUE OPTION The Company may elect to report financial instruments and certain other items at fair value on an instrument-by-instrument basis with changes in fair value reported in earnings. The election is made upon the initial recognition of an eligible financial asset, financial liability, or firm commitment or when certain specified reconsideration events occur. The fair value election may not otherwise be revoked once an election is made. The changes in fair value are recorded in "Noninterest income" on the condensed consolidated statements of earnings. However, movements in debt valuation adjustments are reported as a component of "Accumulated other comprehensive (loss) income" on the condensed consolidated balance sheets. Debt valuation adjustments represent the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk. Fair Value Option for Certain Debt Liabilities |
Fair Value Disclosures (Policie
Fair Value Disclosures (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
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, derivatives, and certain debt liabilities. 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 15. 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 June 30, 2023, the fair value of these investments was $72.4 million. |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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: June 30, 2023 December 31, 2022 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 $ 2,592,344 $ — $ (423,731) $ 2,168,613 $ 2,685,038 $ — $ (442,996) $ 2,242,042 U.S. Treasury securities 771,226 2 (98,145) 673,083 771,145 — (101,075) 670,070 Agency commercial MBS 540,449 — (60,492) 479,957 549,492 — (61,886) 487,606 Agency residential CMOs 500,101 — (60,874) 439,227 517,174 — (60,111) 457,063 Municipal securities 395,200 — (52,411) 342,789 399,724 — (60,398) 339,326 Corporate debt securities 344,730 — (64,217) 280,513 344,767 6 (32,868) 311,905 Private label residential CMOs 198,992 — (39,485) 159,507 207,123 — (40,399) 166,724 Collateralized loan obligations 109,168 — (4,345) 104,823 109,159 — (6,898) 102,261 Private label commercial MBS 25,137 — (1,937) 23,200 28,903 — (2,076) 26,827 Asset-backed securities 22,116 — (391) 21,725 23,568 — (1,155) 22,413 SBA securities 16,360 — (1,278) 15,082 18,524 — (1,274) 17,250 Total $ 5,515,823 $ 2 $ (807,306) $ 4,708,519 $ 5,654,617 $ 6 $ (811,136) $ 4,843,487 |
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 (losses) gains for the years indicated: Three Months Ended Six Months Ended June 30, June 30, Sales of Securities Available-for-Sale 2023 2022 2023 2022 (In thousands) Amortized cost of securities sold $ — $ 393,432 $ — $ 599,520 Gross realized gains $ — $ 1,544 $ — $ 2,734 Gross realized losses — (2,753) — (3,839) Net realized gains (losses) $ — $ (1,209) $ — $ (1,105) |
Unrealized losses on investment 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: June 30, 2023 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 $ 6,358 $ (400) $ 2,162,255 $ (423,331) $ 2,168,613 $ (423,731) U.S. Treasury securities — — 668,123 (98,145) 668,123 (98,145) Agency commercial MBS — — 479,957 (60,492) 479,957 (60,492) Agency residential CMOs 701 (31) 438,527 (60,843) 439,228 (60,874) Municipal securities 1,162 (87) 341,627 (52,324) 342,789 (52,411) Corporate debt securities 13,997 (1,003) 266,516 (63,214) 280,513 (64,217) Private label residential CMOs — — 159,507 (39,485) 159,507 (39,485) Collateralized loan obligations — — 104,823 (4,345) 104,823 (4,345) Private label commercial MBS — — 23,200 (1,937) 23,200 (1,937) Asset-backed securities — — 21,725 (391) 21,725 (391) SBA securities — — 15,082 (1,278) 15,082 (1,278) Total $ 22,218 $ (1,521) $ 4,681,342 $ (805,785) $ 4,703,560 $ (807,306) December 31, 2022 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 $ 52,556 $ (6,193) $ 2,189,485 $ (436,803) $ 2,242,041 $ (442,996) U.S. Treasury securities 4,972 (26) 665,098 (101,049) 670,070 (101,075) Agency commercial MBS 316,892 (31,139) 170,714 (30,747) 487,606 (61,886) Agency residential CMOs 245,755 (22,748) 211,309 (37,363) 457,064 (60,111) Municipal securities 37,380 (3,129) 298,266 (57,269) 335,646 (60,398) Corporate debt securities 302,643 (32,124) 4,256 (744) 306,899 (32,868) Private label residential CMOs 19,261 (1,294) 147,464 (39,105) 166,725 (40,399) Collateralized loan obligations 27,704 (1,818) 74,558 (5,080) 102,262 (6,898) Private label commercial MBS 10,204 (508) 16,623 (1,568) 26,827 (2,076) Asset-backed securities 22,413 (1,155) — — 22,413 (1,155) SBA securities 17,250 (1,274) — — 17,250 (1,274) Total $ 1,057,030 $ (101,408) $ 3,777,773 $ (709,728) $ 4,834,803 $ (811,136) |
Schedule of held-to-maturity securities reconciliation | The following table presents amortized cost, allowance for credit losses, gross unrealized gains and losses, and fair values of securities held-to-maturity as of the date indicated: June 30, 2023 Allowance for Net Gross Gross Amortized Credit Carrying Unrealized Unrealized Fair Security Type Cost Losses Amount Gains Losses Value (In thousands) Municipal securities $ 1,245,462 $ (140) $ 1,245,322 $ 173 $ (53,811) $ 1,191,684 Agency commercial MBS 430,578 — 430,578 — (35,178) 395,400 Private label commercial MBS 348,123 — 348,123 — (34,612) 313,511 U.S. Treasury securities 185,581 — 185,581 — (12,987) 172,594 Corporate debt securities 69,958 (1,360) 68,598 — (20,975) 47,623 Total (1) $ 2,279,702 $ (1,500) $ 2,278,202 $ 173 $ (157,563) $ 2,120,812 __________________________ (1) Excludes accrued interest receivable of $13.4 million at June 30, 2023 which is recorded in "Other assets" on the condensed consolidated balance sheets. December 31, 2022 Allowance for Net Gross Gross Amortized Credit Carrying Unrealized Unrealized Fair Security Type Cost Losses Amount Gains Losses Value (In thousands) Municipal securities $ 1,243,443 $ (140) $ 1,243,303 $ 8 $ (77,526) $ 1,165,785 Agency commercial MBS 427,411 — 427,411 — (34,287) 393,124 Private label commercial MBS 345,825 — 345,825 — (26,027) 319,798 U.S. Treasury securities 184,162 — 184,162 — (12,462) 171,700 Corporate debt securities 69,794 (1,360) 68,434 — (8,369) 60,065 Total (1) $ 2,270,635 $ (1,500) $ 2,269,135 $ 8 $ (158,671) $ 2,110,472 __________________________ (1) Excludes accrued interest receivable of $13.5 million at December 31, 2022 which is recorded in "Other assets" on the condensed consolidated balance sheets. |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | The following table presents the changes by major security type in our allowance for credit losses on securities held-to-maturity for the periods indicated: Allowance for Provision Allowance for Credit Losses, for Credit Losses, Beginning Credit End of Security Type of Period Losses Charge-offs Recoveries Period (In thousands) Three Months Ended June 30, 2023 Municipal securities $ 140 $ — $ — $ — $ 140 Corporate debt securities 1,360 — — — 1,360 Total $ 1,500 $ — $ — $ — $ 1,500 Six Months Ended June 30, 2023 Municipal securities $ 140 $ — $ — $ — $ 140 Corporate debt securities 1,360 — — — 1,360 Total $ 1,500 $ — $ — $ — $ 1,500 Allowance for Provision Allowance for Credit Losses, for Credit Losses, Beginning Credit End of Security Type of Period Losses Charge-offs Recoveries Period (In thousands) Three Months Ended June 30, 2022 Municipal securities $ — $ 140 $ — $ — $ 140 Corporate debt securities — 1,360 — — 1,360 Total $ — $ 1,500 $ — $ — $ 1,500 Six Months Ended June 30, 2022 Municipal securities $ — $ 140 $ — $ — $ 140 Corporate debt securities — 1,360 — — 1,360 Total $ — $ 1,500 $ — $ — $ 1,500 |
Debt Securities, Held-to-maturity, Credit Quality Indicator | The following table presents our securities held-to-maturity portfolio at amortized cost by the lowest available credit rating as of the dates indicated: June 30, 2023 Security Type AAA AA+ AA AA- A+ A A- BBB NR Total (In thousands) Amortized Cost: Municipal securities $ 552,131 $ 403,500 $ 166,760 $ 86,060 $ 12,018 $ 1,894 $ — $ — $ 23,099 $ 1,245,462 Agency commercial MBS — 430,578 — — — — — — — 430,578 Private label commercial MBS 348,123 — — — — — — — — 348,123 U.S. Treasury securities — 185,581 — — — — — — — 185,581 Corporate debt securities — — — — — — — 44,306 25,652 69,958 Total $ 900,254 $ 1,019,659 $ 166,760 $ 86,060 $ 12,018 $ 1,894 $ — $ 44,306 $ 48,751 $ 2,279,702 December 31, 2022 Security Type AAA AA+ AA AA- A+ A A- BBB NR Total (In thousands) Amortized Cost: Municipal securities $ 568,674 $ 385,990 $ 173,751 $ 95,471 $ — $ 1,901 $ — $ — $ 17,656 $ 1,243,443 Agency commercial MBS — 427,411 — — — — — — — 427,411 Private label commercial MBS 345,825 — — — — — — — — 345,825 U.S. Treasury securities — 184,162 — — — — — — — 184,162 Corporate debt securities — — — — — — 23,244 20,999 25,551 69,794 Total $ 914,499 $ 997,563 $ 173,751 $ 95,471 $ — $ 1,901 $ 23,244 $ 20,999 $ 43,207 $ 2,270,635 |
Investment income | The following table presents the composition of our interest income on investment securities, including available-for-sale and held-to-maturity, for the periods indicated: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 (In thousands) Taxable interest $ 38,207 $ 44,467 $ 76,899 $ 89,109 Non-taxable interest 4,922 8,180 9,825 16,699 Dividend income 1,024 255 1,666 516 Total interest income on investment securities $ 44,153 $ 52,902 $ 88,390 $ 106,324 |
Available-for-sale 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: June 30, 2023 Due After Due After Due One Year Five Years Due Within Through Through After Security Type One Year Five Years Ten Years Ten Years Total (In thousands) Amortized Cost: Agency residential MBS $ — $ — $ — $ 2,592,344 $ 2,592,344 U.S. Treasury securities 4,958 666,576 99,692 — 771,226 Agency commercial MBS — 202,143 320,570 17,736 540,449 Agency residential CMOs — — 172,382 327,719 500,101 Municipal securities — 65,454 307,486 22,260 395,200 Corporate debt securities — 5,000 339,730 — 344,730 Private label residential CMOs — — — 198,992 198,992 Collateralized loan obligations — — 70,330 38,838 109,168 Private label commercial MBS — — — 25,137 25,137 Asset-backed securities — — — 22,116 22,116 SBA securities — 3,408 — 12,952 16,360 Total $ 4,958 $ 942,581 $ 1,310,190 $ 3,258,094 $ 5,515,823 Fair Value: Agency residential MBS $ — $ — $ — $ 2,168,613 $ 2,168,613 U.S. Treasury securities 4,959 582,194 85,930 — 673,083 Agency commercial MBS — 185,585 277,605 16,767 479,957 Agency residential CMOs — — 149,975 289,252 439,227 Municipal securities — 58,119 264,120 20,550 342,789 Corporate debt securities — 4,725 275,788 — 280,513 Private label residential CMOs — — — 159,507 159,507 Collateralized loan obligations — — 67,716 37,107 104,823 Private label commercial MBS — — — 23,200 23,200 Asset-backed securities — — — 21,725 21,725 SBA securities — 3,168 — 11,914 15,082 Total $ 4,959 $ 833,791 $ 1,121,134 $ 2,748,635 $ 4,708,519 |
Held-to-Maturity Investments Classified by Contractual Maturity Date | The following table presents the contractual maturities of our securities held-to-maturity portfolio based on amortized cost and fair value as of the date indicated: June 30, 2023 Due After Due After Due One Year Five Years Due Within Through Through After Security Type One Year Five Years Ten Years Ten Years Total (In thousands) Amortized Cost: Municipal securities $ — $ — $ 368,095 $ 877,367 $ 1,245,462 Agency commercial MBS — — 409,517 21,061 430,578 Private label commercial MBS — — 36,193 311,930 348,123 U.S. Treasury securities — — 185,581 — 185,581 Corporate debt securities — — 10,211 59,747 69,958 Total $ — $ — $ 1,009,597 $ 1,270,105 $ 2,279,702 Fair Value: Municipal securities $ — $ — $ 348,295 $ 843,389 $ 1,191,684 Agency commercial MBS — — 375,946 19,454 395,400 Private label commercial MBS — — 33,057 280,454 313,511 U.S. Treasury securities — — 172,594 — 172,594 Corporate debt securities — — 8,000 39,623 47,623 Total $ — $ — $ 937,892 $ 1,182,920 $ 2,120,812 |
Loans and Leases (Tables)
Loans and Leases (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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: June 30, December 31, 2023 2022 (In thousands) Real estate mortgage $ 14,312,273 $ 15,762,351 Real estate construction and land (1) 2,491,483 4,221,853 Commercial 5,097,714 8,297,182 Consumer 409,822 444,630 Total gross loans and leases held for investment 22,311,292 28,726,016 Deferred fees, net (53,082) (116,887) Total loans and leases held for investment, net of deferred fees 22,258,210 28,609,129 Allowance for loan and lease losses (219,234) (200,732) Total loans and leases held for investment, net (2) $ 22,038,976 $ 28,408,397 ____________________ (1) Includes land and acquisition and development loans of $187.6 million and $153.5 million at June 30, 2023 and December 31, 2022. (2) Excludes accrued interest receivable of $103.8 million and $124.3 million at June 30, 2023 and December 31, 2022, 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: June 30, 2023 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 938 $ 23,151 $ 24,089 $ 3,586,231 $ 3,610,320 Multi-family — — — 5,304,544 5,304,544 Other residential 52,358 38,209 90,567 5,282,611 5,373,178 Total real estate mortgage 53,296 61,360 114,656 14,173,386 14,288,042 Real estate construction and land: Commercial — — — 415,997 415,997 Residential — — — 2,049,526 2,049,526 Total real estate construction and land — — — 2,465,523 2,465,523 Commercial: Asset-based — 385 385 2,356,713 2,357,098 Venture capital 1,845 — 1,845 1,721,631 1,723,476 Other commercial 262 390 652 1,013,560 1,014,212 Total commercial 2,107 775 2,882 5,091,904 5,094,786 Consumer 2,025 187 2,212 407,647 409,859 Total $ 57,428 $ 62,322 $ 119,750 $ 22,138,460 $ 22,258,210 December 31, 2022 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 1,721 $ 29,269 $ 30,990 $ 3,815,841 $ 3,846,831 Multi-family — — — 5,607,865 5,607,865 Other residential 101,728 39,875 141,603 6,134,025 6,275,628 Total real estate mortgage 103,449 69,144 172,593 15,557,731 15,730,324 Real estate construction and land: Commercial — — — 898,592 898,592 Residential — — — 3,253,580 3,253,580 Total real estate construction and land — — — 4,152,172 4,152,172 Commercial: Asset-based — 434 434 5,139,775 5,140,209 Venture capital — — — 2,033,302 2,033,302 Other commercial 461 1,195 1,656 1,106,795 1,108,451 Total commercial 461 1,629 2,090 8,279,872 8,281,962 Consumer 1,935 149 2,084 442,587 444,671 Total $ 105,845 $ 70,922 $ 176,767 $ 28,432,362 $ 28,609,129 |
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: June 30, 2023 December 31, 2022 Nonaccrual Performing Total Nonaccrual Performing Total (In thousands) Real estate mortgage: Commercial $ 37,191 $ 3,573,129 $ 3,610,320 $ 42,509 $ 3,804,322 $ 3,846,831 Multi-family — 5,304,544 5,304,544 — 5,607,865 5,607,865 Other residential 63,626 5,309,552 5,373,178 55,893 6,219,735 6,275,628 Total real estate mortgage 100,817 14,187,225 14,288,042 98,402 15,631,922 15,730,324 Real estate construction and land: Commercial — 415,997 415,997 — 898,592 898,592 Residential — 2,049,526 2,049,526 — 3,253,580 3,253,580 Total real estate construction and land — 2,465,523 2,465,523 — 4,152,172 4,152,172 Commercial: Asset-based 385 2,356,713 2,357,098 865 5,139,344 5,140,209 Venture capital — 1,723,476 1,723,476 — 2,033,302 2,033,302 Other commercial 3,479 1,010,733 1,014,212 4,345 1,104,106 1,108,451 Total commercial 3,864 5,090,922 5,094,786 5,210 8,276,752 8,281,962 Consumer 205 409,654 409,859 166 444,505 444,671 Total $ 104,886 $ 22,153,324 $ 22,258,210 $ 103,778 $ 28,505,351 $ 28,609,129 |
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. June 30, 2023 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 39,768 $ 121,084 $ 3,449,468 $ 3,610,320 Multi-family 87,390 30,743 5,186,411 5,304,544 Other residential 72,549 56,042 5,244,587 5,373,178 Total real estate mortgage 199,707 207,869 13,880,466 14,288,042 Real estate construction and land: Commercial — — 415,997 415,997 Residential — 2,376 2,047,150 2,049,526 Total real estate construction and land — 2,376 2,463,147 2,465,523 Commercial: Asset-based 3,650 13,368 2,340,080 2,357,098 Venture capital 2,614 122,482 1,598,380 1,723,476 Other commercial 5,516 12,417 996,279 1,014,212 Total commercial 11,780 148,267 4,934,739 5,094,786 Consumer 447 7,856 401,556 409,859 Total $ 211,934 $ 366,368 $ 21,679,908 $ 22,258,210 December 31, 2022 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 43,737 $ 106,493 $ 3,696,601 $ 3,846,831 Multi-family 3,611 60,330 5,543,924 5,607,865 Other residential 60,557 58,063 6,157,008 6,275,628 Total real estate mortgage 107,905 224,886 15,397,533 15,730,324 Real estate construction and land: Commercial — 91,334 807,258 898,592 Residential — 45,155 3,208,425 3,253,580 Total real estate construction and land — 136,489 4,015,683 4,152,172 Commercial: Asset-based 865 56,836 5,082,508 5,140,209 Venture capital 2,753 127,907 1,902,642 2,033,302 Other commercial 6,473 13,233 1,088,745 1,108,451 Total commercial 10,091 197,976 8,073,895 8,281,962 Consumer 275 6,908 437,488 444,671 Total $ 118,271 $ 566,259 $ 27,924,599 $ 28,609,129 |
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 Six Months Three Months Six Months Ended Ended Ended Ended June 30, June 30, June 30, June 30, June 30, June 30, 2023 2023 2023 2022 2022 2022 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 $ 57 $ — $ — $ 66 $ — $ — Multi-family — — — — — — Other residential 396 — — 7,472 — — Real estate construction and land: Commercial — — — — — — Residential — — — 1,115 — — Commercial: Asset based — — — 748 — — Venture capital — — — 3,120 — — Other commercial 738 — — 1,262 — — Consumer 205 — — 223 — — With No Related Allowance Recorded: Real estate mortgage: Commercial $ 37,134 $ 104 $ 107 $ 28,463 $ 14 $ 98 Multi-family — — — — — — Other residential 63,230 — — 26,995 — — Real estate construction and land: Commercial — — — 5,229 — — Residential — — — — — — Commercial: Asset based 385 — — 441 — — Venture capital — — — — — — Other commercial 2,741 — — 3,393 7 361 Consumer — — — — — — Total Loans and Leases With and Without an Allowance Recorded: Real estate mortgage $ 100,817 $ 104 $ 107 $ 62,996 $ 14 $ 98 Real estate construction and land — — — 6,344 — — Commercial 3,864 — — 8,964 7 361 Consumer 205 — — 223 — — Total $ 104,886 $ 104 $ 107 $ 78,527 $ 21 $ 459 |
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 June 30, 2023 2023 2022 2021 2020 2019 Prior Loans Loans Total (In thousands) Real Estate Mortgage: Commercial Internal risk rating: 1-2 High pass $ — $ 4,822 $ 5,168 $ 11,574 $ 26,399 $ 47,435 $ 1,305 $ — $ 96,703 3-4 Pass 51,196 535,474 507,068 428,682 235,107 1,491,564 93,911 9,763 3,352,765 5 Special mention — 2,551 — 27,012 14,062 77,459 — — 121,084 6-8 Classified 820 — 540 452 2,866 35,090 — — 39,768 Total $ 52,016 $ 542,847 $ 512,776 $ 467,720 $ 278,434 $ 1,651,548 $ 95,216 $ 9,763 $ 3,610,320 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ 27 $ 7,010 $ — $ — $ 7,037 Real Estate Mortgage: Multi-family Internal risk rating: 1-2 High pass $ — $ 28,248 $ 107,068 $ 32,176 $ 54,875 $ 105,088 $ — $ — $ 327,455 3-4 Pass 9,085 1,861,189 1,052,383 501,131 551,947 826,718 56,503 — 4,858,956 5 Special mention — — — 4,710 5,409 20,624 — — 30,743 6-8 Classified — — 6,000 8,624 22,892 49,874 — — 87,390 Total $ 9,085 $ 1,889,437 $ 1,165,451 $ 546,641 $ 635,123 $ 1,002,304 $ 56,503 $ — $ 5,304,544 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Real Estate Mortgage: Other residential Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ 1,500 $ — $ 1,500 3-4 Pass 206,352 1,951,356 2,952,687 70,765 — 18,855 42,975 97 5,243,087 5 Special mention 6,803 30,966 17,418 855 — — — — 56,042 6-8 Classified (1,642) 33,617 33,704 4,324 — 2,405 — 141 72,549 Total $ 211,513 $ 2,015,939 $ 3,003,809 $ 75,944 $ — $ 21,260 $ 44,475 $ 238 $ 5,373,178 Current YTD period: Gross charge-offs $ 2,586 $ 18,680 $ 4,771 $ 632 $ — $ 4 $ — $ — $ 26,673 ____________________ (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 June 30, 2023 2023 2022 2021 2020 2019 Prior Loans Loans Total (In thousands) Real Estate Construction and Land: Commercial Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 15,191 196,205 113,939 58,864 26,048 5,750 — — 415,997 5 Special mention — — — — — — — — — 6-8 Classified — — — — — — — — — Total $ 15,191 $ 196,205 $ 113,939 $ 58,864 $ 26,048 $ 5,750 $ — $ — $ 415,997 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Real Estate Construction and Land: Residential Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 20,677 779,682 689,815 460,255 — 25,842 70,879 — 2,047,150 5 Special mention — — 2,376 — — — — — 2,376 6-8 Classified — — — — — — — — — Total $ 20,677 $ 779,682 $ 692,191 $ 460,255 $ — $ 25,842 $ 70,879 $ — $ 2,049,526 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial: Asset-Based Internal risk rating: 1-2 High pass $ 5,349 $ 263,148 $ 227,094 $ 58,814 $ 159,177 $ 301,212 $ 81,851 $ — $ 1,096,645 3-4 Pass 86,482 313,380 159,215 24,332 12,379 35,529 609,684 2,434 1,243,435 5 Special mention — 151 — — — 3,265 9,927 25 13,368 6-8 Classified — — — — — 385 3,265 — 3,650 Total $ 91,831 $ 576,679 $ 386,309 $ 83,146 $ 171,556 $ 340,391 $ 704,727 $ 2,459 $ 2,357,098 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ 150 $ 150 Commercial: Venture Capital Internal risk rating: 1-2 High pass $ (171) $ (10) $ — $ 2,000 $ — $ (2) $ 165,678 $ (420) $ 167,075 3-4 Pass 41,981 127,431 130,587 7,309 23,699 1,588 1,025,441 73,269 1,431,305 5 Special mention — 20,471 48,890 14,478 — — 38,643 — 122,482 6-8 Classified — — 2,614 — — — — — 2,614 Total $ 41,810 $ 147,892 $ 182,091 $ 23,787 $ 23,699 $ 1,586 $ 1,229,762 $ 72,849 $ 1,723,476 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — ____________________ (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 June 30, 2023 2023 2022 2021 2020 2019 Prior Loans Loans Total (In thousands) Commercial: Other Commercial Internal risk rating: 1-2 High pass $ 643 $ 2,221 $ 7,216 $ (45) $ 53 $ (39) $ 20,990 $ — $ 31,039 3-4 Pass 2,635 76,083 272,118 49,240 36,181 122,672 403,272 3,039 965,240 5 Special mention 1,749 — 614 697 586 2,258 6,434 79 12,417 6-8 Classified — — — — 309 2,276 1,550 1,381 5,516 Total $ 5,027 $ 78,304 $ 279,948 $ 49,892 $ 37,129 $ 127,167 $ 432,246 $ 4,499 $ 1,014,212 Current YTD period: Gross charge-offs $ — $ 6,699 $ — $ — $ — $ — $ 304 $ 331 $ 7,334 Consumer Internal risk rating: 1-2 High pass $ — $ 30 $ 26 $ 6 $ — $ — $ 1,107 $ — $ 1,169 3-4 Pass 67 59,240 209,923 19,253 42,953 61,576 7,375 — 400,387 5 Special mention — 1,739 4,075 167 1,734 59 82 — 7,856 6-8 Classified — — 232 33 73 90 1 18 447 Total $ 67 $ 61,009 $ 214,256 $ 19,459 $ 44,760 $ 61,725 $ 8,565 $ 18 $ 409,859 Current YTD period: Gross charge-offs $ — $ 221 $ 273 $ 76 $ 144 $ 184 $ 1 $ 12 $ 911 Total Loans and Leases Internal risk rating: 1-2 High pass $ 5,821 $ 298,459 $ 346,572 $ 104,525 $ 240,504 $ 453,694 $ 272,431 $ (420) $ 1,721,586 3-4 Pass 433,666 5,900,040 6,087,735 1,619,831 928,314 2,590,094 2,310,040 88,602 19,958,322 5 Special mention 8,552 55,878 73,373 47,919 21,791 103,665 55,086 104 366,368 6-8 Classified (822) 33,617 43,090 13,433 26,140 90,120 4,816 1,540 211,934 Total $ 447,217 $ 6,287,994 $ 6,550,770 $ 1,785,708 $ 1,216,749 $ 3,237,573 $ 2,642,373 $ 89,826 $ 22,258,210 Current YTD period: Gross charge-offs $ 2,586 $ 25,600 $ 5,044 $ 708 $ 171 $ 7,198 $ 305 $ 493 $ 42,105 ______________________ (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, 2022 2022 2021 2020 2019 2018 Prior Loans Loans Total (In thousands) Real Estate Mortgage: Commercial Internal risk rating: 1-2 High pass $ 4,957 $ 3,791 $ 7,215 $ 26,132 $ 4,690 $ 35,343 $ 1,290 $ — $ 83,418 3-4 Pass 537,931 501,576 467,792 322,448 539,701 1,148,386 85,284 10,065 3,613,183 5 Special mention — — 728 16,394 2,294 87,077 — — 106,493 6-8 Classified — 559 464 1,310 27,396 14,008 — — 43,737 Total $ 542,888 $ 505,926 $ 476,199 $ 366,284 $ 574,081 $ 1,284,814 $ 86,574 $ 10,065 $ 3,846,831 Current YTD period: Gross charge-offs $ — $ 67 $ — $ 79 $ 2,258 $ 326 $ — $ — $ 2,730 Real Estate Mortgage: Multi-family Internal risk rating: 1-2 High pass $ — $ 89,251 $ 19,945 $ 58,275 $ 66,219 $ 69,805 $ — $ — $ 303,495 3-4 Pass 1,940,337 1,084,467 523,645 676,169 446,987 511,185 57,639 — 5,240,429 5 Special mention — — 4,944 16,974 7,003 31,409 — — 60,330 6-8 Classified — — — — 2,750 861 — — 3,611 Total $ 1,940,337 $ 1,173,718 $ 548,534 $ 751,418 $ 522,959 $ 613,260 $ 57,639 $ — $ 5,607,865 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Real Estate Mortgage: Other residential Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ 1,000 $ — $ 1,000 3-4 Pass 2,805,533 3,200,013 83,580 — 237 20,394 46,155 96 6,156,008 5 Special mention 27,272 25,766 4,916 — 109 — — — 58,063 6-8 Classified 19,248 33,218 5,333 — — 2,555 — 203 60,557 Total $ 2,852,053 $ 3,258,997 $ 93,829 $ — $ 346 $ 22,949 $ 47,155 $ 299 $ 6,275,628 Current YTD period: Gross charge-offs $ 249 $ 1,084 $ 912 $ — $ — $ 81 $ — $ — $ 2,326 ____________________ (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, 2022 2022 2021 2020 2019 2018 Prior Loans Loans Total (In thousands) Real Estate Construction and Land: Commercial Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 299,538 170,397 74,634 237,294 17,763 7,632 — — 807,258 5 Special mention — — — — 91,334 — — — 91,334 6-8 Classified — — — — — — — — — Total $ 299,538 $ 170,397 $ 74,634 $ 237,294 $ 109,097 $ 7,632 $ — $ — $ 898,592 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Real Estate Construction and Land: Residential Internal risk rating: 1-2 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 3-4 Pass 605,683 1,302,061 844,041 282,076 125,805 204 48,555 — 3,208,425 5 Special mention — — — 45,155 — — — — 45,155 6-8 Classified — — — — — — — — — Total $ 605,683 $ 1,302,061 $ 844,041 $ 327,231 $ 125,805 $ 204 $ 48,555 $ — $ 3,253,580 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial: Asset-Based Internal risk rating: 1-2 High pass $ 225,140 $ 209,272 $ 57,727 $ 202,063 $ 121,600 $ 208,542 $ 850,031 $ — $ 1,874,375 3-4 Pass 547,675 188,269 52,711 35,811 33,426 40,714 2,239,785 69,742 3,208,133 5 Special mention — — — 43,409 — 3,505 9,922 — 56,836 6-8 Classified — — — — — 434 — 431 865 Total $ 772,815 $ 397,541 $ 110,438 $ 281,283 $ 155,026 $ 253,195 $ 3,099,738 $ 70,173 $ 5,140,209 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ 750 $ — $ 750 Commercial: Venture Capital Internal risk rating: 1-2 High pass $ (40) $ — $ 2,000 $ — $ 134 $ 3 $ 216,535 $ 503 $ 219,135 3-4 Pass 92,015 136,296 18,075 3,705 1,833 910 1,365,101 65,572 1,683,507 5 Special mention 13,970 40,924 4,483 23,202 — — 40,335 4,993 127,907 6-8 Classified — 2,753 — — — — — — 2,753 Total $ 105,945 $ 179,973 $ 24,558 $ 26,907 $ 1,967 $ 913 $ 1,621,971 $ 71,068 $ 2,033,302 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ 940 $ — $ 940 ____________________ (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, 2022 2022 2021 2020 2019 2018 Prior Loans Loans Total (In thousands) Commercial: Other Commercial Internal risk rating: 1-2 High pass $ 3,591 $ 10,880 $ 12 $ 161 $ 3 $ 14 $ 20,958 $ — $ 35,619 3-4 Pass 84,930 278,208 54,542 41,908 47,771 87,645 454,438 3,684 1,053,126 5 Special mention 7,038 796 184 695 1,526 2,858 47 89 13,233 6-8 Classified — 806 — 319 (3) 2,653 1,600 1,098 6,473 Total $ 95,559 $ 290,690 $ 54,738 $ 43,083 $ 49,297 $ 93,170 $ 477,043 $ 4,871 $ 1,108,451 Current YTD period: Gross charge-offs $ — $ 209 $ — $ 1 $ — $ 2,537 $ 1,906 $ 474 $ 5,127 Consumer Internal risk rating: 1-2 High pass $ 34 $ 30 $ 7 $ — $ 1 $ — $ 854 $ — $ 926 3-4 Pass 62,868 226,084 20,798 48,542 31,693 37,838 8,739 — 436,562 5 Special mention 1,252 3,490 464 1,126 278 238 60 — 6,908 6-8 Classified 47 — — 59 79 74 — 16 275 Total $ 64,201 $ 229,604 $ 21,269 $ 49,727 $ 32,051 $ 38,150 $ 9,653 $ 16 $ 444,671 Current YTD period: Gross charge-offs $ 309 $ 529 $ 237 $ 728 $ — $ 354 $ — $ 7 $ 2,164 Total Loans and Leases Internal risk rating: 1-2 High pass $ 233,682 $ 313,224 $ 86,906 $ 286,631 $ 192,647 $ 313,707 $ 1,090,668 $ 503 $ 2,517,968 3-4 Pass 6,976,510 7,087,371 2,139,818 1,647,953 1,245,216 1,854,908 4,305,696 149,159 25,406,631 5 Special mention 49,532 70,976 15,719 146,955 102,544 125,087 50,364 5,082 566,259 6-8 Classified 19,295 37,336 5,797 1,688 30,222 20,585 1,600 1,748 118,271 Total $ 7,279,019 $ 7,508,907 $ 2,248,240 $ 2,083,227 $ 1,570,629 $ 2,314,287 $ 5,448,328 $ 156,492 $ 28,609,129 Current YTD period: Gross charge-offs $ 558 $ 1,889 $ 1,149 $ 808 $ 2,258 $ 3,298 $ 3,596 $ 481 $ 14,037 ____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees. |
Finance Receivable, Loan Restructuring and Refinancing, Amortized Costs Balance | The following table presents our loan modifications made to borrowers experiencing financial difficulty by type of modification for the period indicated with related amortized cost balances as of the date indicated: Three Months Ended June 30, 2023 Loan Modifications Balances (Amortized Cost Basis) at June 30, 2023 Term Extension % of Loan Balance Portfolio Class (Dollars in thousands) Real estate mortgage: Other residential $ 8,993 0.2 % Commercial: Other commercial 931 0.1 % Consumer 15 — % Total $ 9,939 Six Months Ended June 30, 2023 Loan Modifications Balances (Amortized Cost Basis) at June 30, 2023 Combination - Term Extension and Combination - Term Interest Extension and Total Loan Term Extension Payment Delay Reduction Payment Delay Modifications % of % of % of % of % of Loan Loan Loan Loan Loan Portfolio Portfolio Portfolio Portfolio Portfolio Balance Class Balance Class Balance Class Balance Class Balance Class (Dollars in thousands) Real estate mortgage: Other residential $ 18,522 0.3 % $ — — % $ — — % $ — — % $ 18,522 0.3 % Commercial: Venture Venture capital — — % — — % — — % 612 — % 612 — % Other commercial 2,762 0.3 % 44 — % — — % — — % 2,806 0.3 % Consumer 15 — % — — % 3 — % — — % 18 — % Total $ 21,299 $ 44 $ 3 $ 612 $ 21,958 |
Finance Receivables - Loan Restructuring & Refinancing Modifications | The following tables present the financial effect of our loan modifications made to borrowers experiencing financial difficulty by type of modification for the period indicated: Three Months Ended June 30, 2023 Term Extension - Financial Effect Real estate mortgage: Other residential Extended maturity by a weighted average 12 months. Commercial: Other commercial Extended maturity by a weighted average 23 months. Consumer Extended maturity by a weighted average 12 months. Six Months Ended June 30, 2023 Term Extension - Financial Effect Real estate mortgage: Other residential Extended maturity by a weighted average 9 months. Commercial: Other commercial Extended maturity by a weighted average 16 months. Consumer Extended maturity by a weighted average 12 months. Six Months Ended June 30, 2023 Payment Delay - Financial Effect Commercial: Other commercial Provided six months of reduced payments to borrowers without extending the loan term. Six Months Ended June 30, 2023 Combination - Term Extension and Interest Rate Reduction - Financial Effect Consumer Extended maturity by a weighted average 2.0 years and reduced weighted average contractual interest rate from 9.5% to 2.0%. Six Months Ended June 30, 2023 Combination - Term Extension and Payment Delay - Financial Effect Commercial: Venture capital Extended maturity by a weighted average 11 months and provided 11 months of interest only payments to borrowers. |
Finance Receivable, Loan Modifications, Payment Status | The following table presents the payment status of our loan modifications made during the past six month with related amortized cost balances as of the date indicated: Payment Status (Amortized Cost Basis) at June 30, 2023 30-89 Days 90 or More Days Current Past Due Past Due Total (In thousands) Real estate mortgage: Other residential $ 14,384 $ 3,859 $ 279 $ 18,522 Commercial: Venture capital 612 — — 612 Other commercial 2,806 — — 2,806 Consumer 18 — — 18 Total $ 17,820 $ 3,859 $ 279 $ 21,958 |
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 June 30, 2022 Six Months Ended June 30, 2022 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 (In thousands) Real estate mortgage: Commercial — $ — $ — — $ — $ — Other residential 1 208 208 2 512 207 Commercial: Venture capital 4 3,330 3,330 4 3,330 3,330 Other commercial 6 57 57 19 1,131 1,131 Consumer 1 18 18 1 18 18 Total 12 $ 3,613 $ 3,613 26 $ 4,991 $ 4,686 |
Lease Income of Direct Financing Leases | The following table provides the components of leases receivable income for the periods indicated: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 (In thousands) Component of leases receivable income: Interest income on net investments in leases $ 4,118 $ 2,491 $ 7,867 $ 4,879 |
Assets and Liabilities, Lessor | The following table presents the components of leases receivable as of the dates indicated: June 30, 2023 December 31, 2022 (In thousands) Net Investment in Direct Financing Leases: Lease payments receivable $ 266,039 $ 232,909 Unguaranteed residual assets 29,491 23,561 Deferred costs and other 3,018 1,815 Aggregate net investment in leases $ 298,548 $ 258,285 |
Sales-type and Direct Financing Leases, Lease Receivable, Maturity | The following table presents maturities of leases receivable as of the date indicated: June 30, 2023 (In thousands) Period ending December 31, 2023 $ 37,683 2024 82,239 2025 63,987 2026 45,406 2027 32,274 Thereafter 39,664 Total undiscounted cash flows 301,253 Less: Unearned income (35,214) Present value of lease payments $ 266,039 |
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 June 30, 2023 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of period $ 109,483 $ 55,034 $ 37,195 $ 8,343 $ 210,055 Charge-offs (23,875) — (7,347) (486) (31,708) Recoveries 62 — 742 83 887 Net (charge-offs) recoveries (23,813) — (6,605) (403) (30,821) Provision 47,138 (15,355) 6,631 1,586 40,000 Balance, end of period $ 132,808 $ 39,679 $ 37,221 $ 9,526 $ 219,234 Six Months Ended June 30, 2023 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of period $ 87,309 $ 52,320 $ 52,849 $ 8,254 $ 200,732 Charge-offs (33,710) — (7,484) (911) (42,105) Recoveries 262 — 1,717 128 2,107 Net (charge-offs) recoveries (33,448) — (5,767) (783) (39,998) Provision 78,947 (12,641) (9,861) 2,055 58,500 Balance, end of period $ 132,808 $ 39,679 $ 37,221 $ 9,526 $ 219,234 Ending Allowance by Evaluation Methodology: Individually evaluated $ — $ — $ — $ — $ — Collectively evaluated $ 132,808 $ 39,679 $ 37,221 $ 9,526 $ 219,234 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 101,968 $ — $ 3,126 $ — $ 105,094 Collectively evaluated 14,186,074 2,465,523 5,091,660 409,859 22,153,116 Ending balance $ 14,288,042 $ 2,465,523 $ 5,094,786 $ 409,859 $ 22,258,210 Three Months Ended June 30, 2022 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of period $ 87,228 $ 43,648 $ 57,056 $ 9,466 $ 197,398 Charge-offs (1,545) — (911) (343) (2,799) Recoveries 1,305 — 2,790 11 4,106 Net (charge-offs) recoveries (240) — 1,879 (332) 1,307 Provision (1,092) (2,479) (4,904) (1,525) (10,000) Balance, end of period $ 85,896 $ 41,169 $ 54,031 $ 7,609 $ 188,705 Six Months Ended June 30, 2022 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of period $ 98,624 $ 44,508 $ 48,718 $ 8,714 $ 200,564 Charge-offs (1,713) — (3,744) (576) (6,033) Recoveries 1,468 149 4,525 32 6,174 Net (charge-offs) recoveries (245) 149 781 (544) 141 Provision (12,483) (3,488) 4,532 (561) (12,000) Balance, end of period $ 85,896 $ 41,169 $ 54,031 $ 7,609 $ 188,705 Ending Allowance by Evaluation Methodology: Individually evaluated $ 140 $ — $ 812 $ — $ 952 Collectively evaluated $ 85,756 $ 41,169 $ 53,219 $ 7,609 $ 187,753 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 60,657 $ 6,642 $ 11,419 $ — $ 78,718 Collectively evaluated 13,993,428 3,479,958 8,465,387 483,646 26,422,419 Ending balance $ 14,054,085 $ 3,486,600 $ 8,476,806 $ 483,646 $ 26,501,137 |
Collateral-dependent Finance Receivable | The following table summarizes collateral-dependent loans held for investment by collateral type as of the following dates: June 30, 2023 December 31, 2022 Real Business Real Business Property Assets Total Property Assets Total (In thousands) Real estate mortgage $ 103,203 $ — $ 103,203 $ 90,485 $ — $ 90,485 Real estate construction and land — — — 1,402 — 1,402 Commercial — 385 385 — 434 434 Total $ 103,203 $ 385 $ 103,588 $ 91,887 $ 434 $ 92,321 |
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 June 30, 2023 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of period $ 210,055 $ 75,571 $ 285,626 Charge-offs (31,708) — (31,708) Recoveries 887 — 887 Net charge-offs (30,821) — (30,821) Provision 40,000 (38,000) 2,000 Balance, end of period $ 219,234 $ 37,571 $ 256,805 Six Months Ended June 30, 2023 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of period $ 200,732 $ 91,071 $ 291,803 Charge-offs (42,105) — (42,105) Recoveries 2,107 — 2,107 Net charge-offs (39,998) — (39,998) Provision 58,500 (53,500) 5,000 Balance, end of period $ 219,234 $ 37,571 $ 256,805 Three Months Ended June 30, 2022 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of period $ 197,398 $ 75,071 $ 272,469 Charge-offs (2,799) — (2,799) Recoveries 4,106 — 4,106 Net recoveries 1,307 — 1,307 Provision (10,000) 20,000 10,000 Balance, end of period $ 188,705 $ 95,071 $ 283,776 Six Months Ended June 30, 2022 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of period $ 200,564 $ 73,071 $ 273,635 Charge-offs (6,033) — (6,033) Recoveries 6,174 — 6,174 Net recoveries 141 — 141 Provision (12,000) 22,000 10,000 Balance, end of period $ 188,705 $ 95,071 $ 283,776 |
Foreclosed Assets (Tables)
Foreclosed Assets (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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: June 30, December 31, Property Type 2023 2022 (In thousands) Single-family residence $ 8,426 $ 5,022 Total other real estate owned, net 8,426 5,022 Other foreclosed assets — — Total foreclosed assets, net $ 8,426 $ 5,022 |
Other foreclosed assets rollforward | The following table presents the changes in foreclosed assets, net of the valuation allowance, for the period indicated: Foreclosed Assets, Net (In thousands) Balance, December 31, 2022 $ 5,022 Transfers to foreclosed assets from loans 9,225 Provision for losses (685) Reductions related to sales (5,136) Balance, June 30, 2023 $ 8,426 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible assets disclosure | The following table presents the changes in CDI and CRI and the related accumulated amortization for the periods indicated: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 (In thousands) Gross Amount of CDI and CRI: Balance, beginning of period $ 90,800 $ 133,850 $ 91,550 $ 133,850 Fully amortized portion — — (750) — Balance, end of period 90,800 133,850 90,800 133,850 Accumulated Amortization: Balance, beginning of period (61,830) (92,542) (60,169) (88,893) Amortization expense (2,389) (3,649) (4,800) (7,298) Fully amortized portion — — 750 — Balance, end of period (64,219) (96,191) (64,219) (96,191) Net CDI and CRI, end of period $ 26,581 $ 37,659 $ 26,581 $ 37,659 |
Goodwill | The following table presents the changes in the carrying amount of goodwill for the period indicated: Goodwill (In thousands) Balance, December 31, 2022 $ 1,376,736 Impairment (1,376,736) Balance, June 30, 2023 $ — |
Other Assets (Tables)
Other Assets (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Other Assets [Abstract] | |
Schedule of Other Assets | The following table presents the detail of our other assets as of the dates indicated: June 30, December 31, Other Assets 2023 2022 (In thousands) LIHTC investments $ 320,154 $ 328,555 Cash surrender value of BOLI 206,812 207,797 Interest receivable 137,863 157,109 Operating lease ROU assets, net (1) 119,527 126,255 Taxes receivable 90,495 89,924 SBIC investments 72,351 62,227 Equity investments without readily determinable fair values 64,944 63,280 Prepaid expenses 52,342 26,752 Equity warrants (2) 3,883 4,048 Equity investments with readily determinable fair values 1 1 Other receivables/assets 151,227 148,834 Total other assets $ 1,219,599 $ 1,214,782 ____________________ (1) See Note 8. Leases for further details regarding the operating lease ROU assets. (2) See Note 10. Derivatives for information regarding equity warrants. |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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. The following table presents the components of lease expense for the periods indicated: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 (In thousands) Operating lease expense: Fixed costs $ 8,421 $ 9,042 $ 16,169 $ 17,521 Variable costs 30 36 65 59 Short-term lease costs 265 379 622 743 Sublease income (533) (1,077) (1,245) (2,153) Net lease expense $ 8,183 $ 8,380 $ 15,611 $ 16,170 |
Schedule of Cash Flow, Supplemental Disclosures | The following table presents supplemental cash flow information related to leases for the periods indicated: Six Months Ended June 30, 2023 2022 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 18,247 $ 17,574 ROU assets obtained in exchange for lease obligations: Operating leases $ 9,706 $ 23,804 |
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: June 30, December 31, 2023 2022 (Dollars in thousands) Operating leases: Operating lease right-of-use assets, net $ 119,527 $ 126,255 Operating lease liabilities $ 140,234 $ 148,401 Weighted average remaining lease term (in years) 6.5 6.6 Weighted average discount rate 2.67 % 2.64 % |
Schedule of Maturities of Operating Leases | The following table presents the maturities of operating lease liabilities as of the date indicated: June 30, 2023 (In thousands) Period ending December 31, 2023 $ 15,258 2024 30,108 2025 26,515 2026 21,534 2027 15,376 Thereafter 47,451 Total operating lease liabilities 156,242 Less: Imputed interest (16,008) Present value of operating lease liabilities $ 140,234 |
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: June 30, 2023 (In thousands) Period ending December 31, 2023 $ 23,089 2024 49,487 2025 39,952 2026 33,848 2027 25,786 Thereafter 79,739 Total undiscounted cash flows $ 251,901 |
Borrowings and Subordinated D_2
Borrowings and Subordinated Debentures (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Debt Disclosure [Abstract] | |
Schedule of debt | The following table summarizes our borrowings as of the dates indicated: June 30, 2023 December 31, 2022 Weighted Weighted Average Average Balance Rate Balance Rate (Dollars in thousands) Bank Term Funding Program $ 4,910,000 4.38 % $ — — % Repurchase agreement (1) 1,324,273 8.50 % — — % Credit-linked notes 123,065 15.77 % 132,030 14.56 % FHLB secured advances — — % 1,270,000 4.62 % AFX short-term borrowings — — % 250,000 4.68 % FHLB unsecured overnight advance — — % 112,000 4.37 % Total borrowings $ 6,357,338 5.46 % $ 1,764,030 5.36 % ___________________ (1) Balance is net of unamortized issuance costs of $14.3 million and $2.7 million of accrued exit fees. Rate calculation does not include the effects of issuance costs and exit fees. |
Schedule of Subordinated Borrowing | The following table summarizes the terms of each issuance of subordinated debt outstanding as of the dates indicated: June 30, 2023 December 31, 2022 Date Maturity Rate Index Series Balance Rate (1) Balance Rate (1) Issued Date (Quarterly Reset) (6) (Dollars in thousands) Subordinated notes, net (2) $ 395,391 3.25 % $ 395,134 3.25 % 4/30/2021 5/1/2031 Fixed rate (3) Trust V 10,310 8.61 % 10,310 7.84 % 8/15/2003 9/17/2033 3-month LIBOR + 3.10 Trust VI 10,310 8.60 % 10,310 7.82 % 9/3/2003 9/15/2033 3-month LIBOR + 3.05 Trust CII 5,155 8.46 % 5,155 7.69 % 9/17/2003 9/17/2033 3-month LIBOR + 2.95 Trust VII 61,856 8.05 % 61,856 7.16 % 2/5/2004 4/23/2034 3-month LIBOR + 2.75 Trust CIII 20,619 7.24 % 20,619 6.46 % 8/15/2005 9/15/2035 3-month LIBOR + 1.69 Trust FCCI 16,495 7.15 % 16,495 6.37 % 1/25/2007 3/15/2037 3-month LIBOR + 1.60 Trust FCBI 10,310 7.10 % 10,310 6.32 % 9/30/2005 12/15/2035 3-month LIBOR + 1.55 Trust CS 2005-1 82,475 7.50 % 82,475 6.72 % 11/21/2005 12/15/2035 3-month LIBOR + 1.95 Trust CS 2005-2 128,866 7.25 % 128,866 6.36 % 12/14/2005 1/30/2036 3-month LIBOR + 1.95 Trust CS 2006-1 51,545 7.25 % 51,545 6.36 % 2/22/2006 4/30/2036 3-month LIBOR + 1.95 Trust CS 2006-2 51,550 7.25 % 51,550 6.36 % 9/27/2006 10/30/2036 3-month LIBOR + 1.95 Trust CS 2006-3 (4) 28,118 5.30 % 27,592 3.66 % 9/29/2006 10/30/2036 3-month EURIBOR + 2.05 Trust CS 2006-4 16,470 7.25 % 16,470 6.36 % 12/5/2006 1/30/2037 3-month LIBOR + 1.95 Trust CS 2006-5 6,650 7.25 % 6,650 6.36 % 12/19/2006 1/30/2037 3-month LIBOR + 1.95 Trust CS 2007-2 39,177 7.25 % 39,177 6.36 % 6/13/2007 7/30/2037 3-month LIBOR + 1.95 Total subordinated debt 935,297 5.60 % 934,514 5.08 % Acquisition discount (5) (64,919) (67,427) Net subordinated debt $ 870,378 $ 867,087 ___________________ (1) Rates do not include the effects of discounts and issuance costs. (2) Net of unamortized issuance costs of $4.6 million. (3) Interest rate is fixed until May 1, 2026, when it changes to a floating rate and resets quarterly at a benchmark rate plus 252 basis points. (4) Denomination is in Euros with a value of €25.8 million. (5) Amount represents the fair value adjustment on trust preferred securities assumed in acquisitions. (6) On July 1, 2023, interest rate will transition to term SOFR plus the relevant spread adjustment as the applicable benchmark upon the cessation of LIBOR on June 30, 2023. |
Derivatives (Tables)
Derivatives (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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: June 30, 2023 December 31, 2022 Notional Fair Notional Fair Derivatives Not Designated As Hedging Instruments Amount Value Amount Value (In thousands) Derivative Assets: Interest rate contracts $ 107,169 $ 5,467 $ 108,451 $ 6,013 Foreign exchange contracts 37,118 2,292 37,029 1,801 Interest rate and economic contracts 144,287 7,759 145,480 7,814 Equity warrant assets 17,196 3,883 18,209 4,048 Total $ 161,483 $ 11,642 $ 163,689 $ 11,862 Derivative Liabilities: Interest rate contracts $ 107,169 $ 5,328 $ 108,451 $ 5,825 Foreign exchange contracts 37,118 166 37,029 81 Total $ 144,287 $ 5,494 $ 145,480 $ 5,906 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments disclosure | The following table presents a summary of commitments described below as of the dates indicated: June 30, December 31, 2023 2022 (In thousands) Loan commitments to extend credit $ 5,845,375 $ 11,110,264 Standby letters of credit 300,557 320,886 Total $ 6,145,932 $ 11,431,150 |
Other Commitments | The following table presents the years in which commitments are expected to be paid for our commitments to contribute capital to SBICs and CRA-related loan pools as of the date indicated: June 30, 2023 (In thousands) Period ending December 31, 2023 $ 43,161 2024 34,869 Total $ 78,030 |
Fair Value Election (Tables)
Fair Value Election (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Fair Value Election [Abstract] | |
Fair Value Option, Disclosures | The following table presents the changes in fair value of the credit-linked notes for which the fair value option has been elected for the periods indicated: Three Months Ended Six Months Ended June 30, June 30, Credit-Linked Notes 2023 2022 2023 2022 (In thousands) Changes in fair value - gains (losses) $ (472) $ — $ 1,526 $ — Changes in fair value - other comprehensive income $ 4,057 $ — $ 4,057 $ — |
Fair Value Option, Disclosure, Credit-Link Notes | The following table provides information about the credit-linked notes carried at fair value as of the dates indicated: June 30, December 31, Credit-Linked Notes 2023 2022 (In thousands) Carrying value reported on the consolidated balance sheets $ 123,065 $ 132,030 Aggregate unpaid principal balance in excess of (less than) fair value 4,672 (911) |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
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 June 30, 2023 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available-for-sale: Agency residential MBS $ 2,168,613 $ — $ 2,168,613 $ — U.S. Treasury securities 673,083 673,083 — — Agency commercial MBS 479,957 — 479,957 — Agency residential CMOs 439,227 — 439,227 — Municipal securities 342,789 — 342,789 — Corporate debt securities 280,513 — 273,523 6,990 Private label residential CMOs 159,507 — 159,507 — Collateralized loan obligations 104,823 — 104,823 — Private label commercial MBS 23,200 — 23,200 — Asset-backed securities 21,725 — 21,725 — SBA securities 15,082 — 15,082 — Total securities available-for-sale $ 4,708,519 $ 673,083 $ 4,028,446 $ 6,990 Equity investments with readily determinable fair values $ 1 $ 1 $ — $ — Derivatives (1) : Equity warrants 3,883 — — 3,883 Interest rate and economic contracts 7,759 — 7,759 — Derivative liabilities 5,494 — 5,494 — Credit-linked notes 123,065 — — 123,065 Fair Value Measurements as of December 31, 2022 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available-for-sale: Agency residential MBS $ 2,242,042 $ — $ 2,242,042 $ — U.S. Treasury securities 670,070 670,070 — — Agency commercial MBS 487,606 — 487,606 — Agency residential CMOs 457,063 — 457,063 — Municipal securities 339,326 — 339,326 — Corporate debt securities 311,905 — 311,905 — Private label residential CMOs 166,724 — 166,724 — Collateralized loan obligations 102,261 — 102,261 — Private label commercial MBS 26,827 — 26,827 — Asset-backed securities 22,413 — 22,413 — SBA securities 17,250 — 17,250 — Total securities available-for-sale $ 4,843,487 $ 670,070 $ 4,173,417 $ — Equity investments with readily determinable fair values $ 1 $ 1 $ — $ — Derivatives (1) : Equity warrants 4,048 — — 4,048 Interest rate and economic contracts 7,814 — 7,814 — Derivative liabilities 5,906 — 5,906 — Credit-linked notes 132,030 — — 132,030 |
Fair value, assets and liabilities measured on nonrecurring basis, valuation techniques | |
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: June 30, 2023 Equity Warrants Weighted Range Average Unobservable Inputs of Inputs Input (1) Volatility 19.8% - 153.3% 27.5% Risk-free interest rate 4.1% - 5.5% 4.6% Remaining life assumption (in years) 0.08 - 5.00 3.25 ____________________ (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: June 30, 2023 Valuation Unobservable Input or Weighted Asset Fair Value Technique Inputs Range Average (Dollars in thousands) Individually evaluated loans and leases 3,240 Third party appraisals No discounts Total non-recurring Level 3 $ 3,240 |
Fair value, assets measured on recurring basis, significant unobservable inputs (level 3) reconciliation | The following table summarizes activity for our Level 3 private label commercial MBS available-for-sale, equity warrants, and credit-linked notes measured at fair value on a recurring basis for the period indicated: Corporate Equity Credit-Linked Debt Securities Warrants Notes (In thousands) Balance, December 31, 2022 $ — $ 4,048 $ 132,030 Total included in earnings — (457) (1,526) Total included in other comprehensive income (loss) (1,760) — (4,057) Issuances — 390 — Principal payments — — (3,382) Transfer from Level 2 8,750 — Exercises and settlements — (62) — Transfers to Level 1 (equity investments with readily determinable fair values) — (36) — Balance, June 30, 2023 $ 6,990 $ 3,883 $ 123,065 Unrealized net gains (losses) for the period included in other comprehensive income for securities held at quarter-end $ (1,760) |
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 June 30, 2023 Measured on a Non-Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases $ 25,122 $ — $ 21,882 $ 3,240 OREO 999 — 999 — Total non-recurring $ 26,121 $ — $ 22,881 $ 3,240 Fair Value Measurement as of December 31, 2022 Measured on a Non-Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases $ 34,077 $ — $ 28,065 $ 6,012 OREO 47 — 47 — Total non-recurring $ 34,124 $ — $ 28,112 $ 6,012 |
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 Six Months Ended Losses on Assets June 30, June 30, Measured on a Non-Recurring Basis 2023 2022 2023 2022 (In thousands) Individually evaluated loans and leases $ 925 $ 1,569 $ 4,946 $ 1,584 OREO 158 — 158 — Total losses $ 1,083 $ 1,569 $ 5,104 $ 1,584 |
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: June 30, 2023 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 208,300 $ 208,300 $ 208,300 $ — $ — Interest-earning deposits in financial institutions 6,489,847 6,489,847 6,489,847 — — Securities available-for-sale 4,708,519 4,708,519 673,083 4,028,446 6,990 Securities held-to-maturity 2,278,202 2,120,812 172,594 1,943,686 4,532 Investment in FHLB stock 17,250 17,250 — 17,250 — Loans held for sale 478,146 480,432 — 480,432 — Loans and leases held for investment, net 22,038,976 20,327,864 — 21,882 20,305,982 Equity investments with readily determinable fair values 1 1 1 — — Equity warrants 3,883 3,883 — — 3,883 Interest rate and economic contracts 7,759 7,759 — 7,759 — Servicing rights 1,085 1,085 — — 1,085 Financial Liabilities: Demand, checking, money market, and savings deposits 19,743,765 19,743,765 — 19,743,765 — Time deposits 8,153,318 8,208,911 — 8,208,911 — Borrowings 6,357,338 6,316,443 4,869,105 — 1,447,338 Subordinated debt 870,378 823,867 — 823,867 — Derivative liabilities 5,494 5,494 — 5,494 — December 31, 2022 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 212,273 $ 212,273 $ 212,273 $ — $ — Interest-earning deposits in financial institutions 2,027,949 2,027,949 2,027,949 — — Securities available-for-sale 4,843,487 4,843,487 670,070 4,173,417 — Securities held-to-maturity 2,269,135 2,110,472 171,700 1,938,772 — Investment in FHLB stock 34,290 34,290 — 34,290 — Loans held for sale 65,076 65,501 — 65,501 — Loans and leases held for investment, net 28,408,397 26,627,985 — 28,065 26,599,920 Equity investments with readily determinable fair values 1 1 1 — — Equity warrants 4,048 4,048 — — 4,048 Interest rate and economic contracts 7,814 7,814 — 7,814 — Servicing rights 633 633 — — 633 Financial Liabilities: Demand, checking, money market, and savings deposits 29,198,491 29,198,491 — 29,198,491 — Time deposits 4,737,843 4,700,054 — 4,700,054 — Borrowings 1,764,030 1,764,037 882,000 750,007 132,030 Subordinated debt 867,087 870,534 — 870,534 — Derivative liabilities 5,906 5,906 — 5,906 — |
Fair Value Quantitative Inputs and Assumptions for Outside Services | 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 corporate debt securities available-for-sale measured at fair value on a recurring basis as of the date indicated: June 30, 2023 Corporate Debt Securities Input or Weighted Range Average Unobservable Inputs of Inputs Input (1) Spread to 10 Year Treasury 4.0% - 6.9% 5.5% Discount rates 7.9% - 10.8% 9.4% |
Earnings (Loss) Per Share (Tabl
Earnings (Loss) Per Share (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Earnings Per Share [Abstract] | |
Net income per share | The following table presents the computations of basic and diluted net earnings per common share for the periods indicated: Three Months Ended Six Months Ended June 30, June 30, 2023 2022 2023 2022 (Dollars in thousands, except per share data) Basic Earnings Per Common Share: Net (loss) earnings $ (197,414) $ 122,360 $ (1,392,838) $ 242,488 Less: Preferred stock dividends (9,947) — (19,894) — Net (loss) earnings available to common stockholders (207,361) 122,360 (1,412,732) 242,488 Less: Earnings allocated to unvested restricted stock (1) 82 (2,351) (238) (4,389) Net (loss) earnings allocated to common shares $ (207,279) $ 120,009 $ (1,412,970) $ 238,099 Weighted-average basic shares and unvested restricted stock outstanding 120,275 120,022 120,257 119,810 Less: Weighted-average unvested restricted stock outstanding (2,020) (2,460) (2,163) (2,354) Weighted-average basic shares outstanding 118,255 117,562 118,094 117,456 Basic (loss) earnings per common share $ (1.75) $ 1.02 $ (11.96) $ 2.03 Diluted Earnings Per Common Share: Net (loss) earnings allocated to common shares $ (207,279) $ 120,009 $ (1,412,970) $ 238,099 Weighted-average diluted shares outstanding 118,255 117,562 118,094 117,456 Diluted (loss) earnings per common share $ (1.75) $ 1.02 $ (11.96) $ 2.03 ________________________ (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) | 6 Months Ended |
Jun. 30, 2023 | |
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 June 30, 2023 2023 2022 Total Revenue from Total Revenue from Recorded Contracts with Recorded Contracts with Revenue Customers Revenue Customers (In thousands) Total Interest Income $ 539,888 $ — $ 350,518 $ — Noninterest Income: Service charges on deposit accounts 4,315 4,315 3,634 3,634 Other commissions and fees 11,241 4,124 10,813 4,001 Leased equipment income 22,387 — 12,335 — (Loss) gain on sale of loans (158,881) — 12 — Loss on sale of securities — — (1,209) — Dividends and gains on equity investments 2,658 — 4,097 — Warrant (loss) income (124) — 1,615 — LOCOM HFS adjustment (11,943) — — — Other income 2,265 240 3,049 65 Total noninterest (loss) income (128,082) 8,679 34,346 7,700 Total Revenue $ 411,806 $ 8,679 $ 384,864 $ 7,700 The following table presents revenue from contracts with customers based on the timing of revenue recognition for the periods indicated: Three Months Ended June 30, 2023 2022 (In thousands) Products and services transferred at a point in time $ 3,849 $ 3,771 Products and services transferred over time 4,830 3,929 Total revenue from contracts with customers $ 8,679 $ 7,700 Six Months Ended June 30, 2023 2022 Total Revenue from Total Revenue from Recorded Contracts with Recorded Contracts with Revenue Customers Revenue Customers (In thousands) Total Interest Income $ 1,057,676 $ — $ 673,422 $ — Noninterest Income: Service charges on deposit accounts 7,888 7,888 7,205 7,205 Other commissions and fees 21,585 8,555 22,393 7,774 Leased equipment income 36,244 — 25,429 — (Loss) gain on sale of loans (155,919) — 72 — Loss on sale of securities — — (1,105) — Dividends and (losses) gains on equity investments 3,756 — (7,278) — Warrant (loss) income (457) — 2,244 — LOCOM HFS adjustment (11,943) — — — Other income 7,155 510 6,204 63 Total noninterest (loss) income (91,691) 16,953 55,164 15,042 Total Revenue $ 965,985 $ 16,953 $ 728,586 $ 15,042 The following table presents revenue from contracts with customers based on the timing of revenue recognition for the periods indicated: Six Months Ended June 30, 2023 2022 (In thousands) Products and services transferred at a point in time $ 8,201 $ 7,697 Products and services transferred over time 8,752 7,345 Total revenue from contracts with customers $ 16,953 $ 15,042 |
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: June 30, 2023 December 31, 2022 (In thousands) Receivables, which are included in "Other assets" $ 1,548 $ 1,403 Contract liabilities, which are included in "Accrued interest payable and other liabilities" $ 453 $ 488 |
Recently Issued Accounting St_2
Recently Issued Accounting Standards (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Recently Issued Accounting Standards [Abstract] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles |
Organization - Narrative (Detai
Organization - Narrative (Details) - reportable_segment | 3 Months Ended | 6 Months Ended |
Mar. 31, 2023 | Jun. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Number of Reportable Segments | 2 | 1 |
Restricted Cash Balances - Narr
Restricted Cash Balances - Narrative (Details) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Restricted Cash and Cash Equivalents | $ 0 | $ 0 |
Pledged Cash for Derivative Contracts | 3.5 | 2.7 |
Cash Collateral | 148.3 | $ 131.5 |
Standby Letters of Credit | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Restricted Cash And Restricted Cash Equivalents | $ 55.3 |
Investment Securities - Securit
Investment Securities - Securities Available for Sale (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | $ 2 | $ 6 |
Gross Unrealized Losses | 807,306 | 811,136 |
Fair Value | 4,708,519 | 4,843,487 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 5,515,823 | 5,654,617 |
Agency residential MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 423,731 | 442,996 |
Fair Value | 2,168,613 | 2,242,042 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 2,592,344 | 2,685,038 |
Agency commercial MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 60,492 | 61,886 |
Fair Value | 479,957 | 487,606 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 540,449 | 549,492 |
Agency residential CMOs | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 60,874 | 60,111 |
Fair Value | 439,227 | 457,063 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 500,101 | 517,174 |
U.S. Treasury securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 2 | 0 |
Gross Unrealized Losses | 98,145 | 101,075 |
Fair Value | 673,083 | 670,070 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 771,226 | 771,145 |
Municipal securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 52,411 | 60,398 |
Fair Value | 342,789 | 339,326 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 395,200 | 399,724 |
Collateralized loan obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 4,345 | 6,898 |
Fair Value | 104,823 | 102,261 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 109,168 | 109,159 |
Corporate Debt Securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 0 | 6 |
Gross Unrealized Losses | 64,217 | 32,868 |
Fair Value | 280,513 | 311,905 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 344,730 | 344,767 |
Private label commercial MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 1,937 | 2,076 |
Fair Value | 23,200 | 26,827 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 25,137 | 28,903 |
SBA securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 1,278 | 1,274 |
Fair Value | 15,082 | 17,250 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 16,360 | 18,524 |
Private Label Collateralized Mortgage Obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 39,485 | 40,399 |
Fair Value | 159,507 | 166,724 |
Debt Securities, Available-for-sale, Amortized Cost, Total | 198,992 | 207,123 |
Asset-backed Securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 391 | 1,155 |
Fair Value | 21,725 | 22,413 |
Debt Securities, Available-for-sale, Amortized Cost, Total | $ 22,116 | $ 23,568 |
Investment Securities - Realize
Investment Securities - Realized Gains and Losses on Securities Available-for-Sale (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Amortized cost of securities sold | $ 0 | $ 393,432 | $ 0 | $ 599,520 |
Gross realized gains | 0 | 1,544 | 0 | 2,734 |
Gross realized losses | 0 | (2,753) | 0 | (3,839) |
Net realized gains (losses) | $ 0 | $ (1,209) | $ 0 | $ (1,105) |
Investment Securities - Unreali
Investment Securities - Unrealized Losses on Securities Available-for-Sale (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 22,218 | $ 1,057,030 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1,521 | 101,408 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 4,681,342 | 3,777,773 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (805,785) | (709,728) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 4,703,560 | 4,834,803 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 807,306 | 811,136 |
Agency residential MBS | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 6,358 | 52,556 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 400 | 6,193 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 2,162,255 | 2,189,485 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (423,331) | (436,803) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 2,168,613 | 2,242,041 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 423,731 | 442,996 |
Agency commercial MBS | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 316,892 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 31,139 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 479,957 | 170,714 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (60,492) | (30,747) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 479,957 | 487,606 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 60,492 | 61,886 |
Agency residential CMOs | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 701 | 245,755 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 31 | 22,748 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 438,527 | 211,309 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (60,843) | (37,363) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 439,228 | 457,064 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 60,874 | 60,111 |
Municipal securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 1,162 | 37,380 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 87 | 3,129 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 341,627 | 298,266 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (52,324) | (57,269) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 342,789 | 335,646 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 52,411 | 60,398 |
U.S. Treasury securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 4,972 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 26 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 668,123 | 665,098 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (98,145) | (101,049) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 668,123 | 670,070 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 98,145 | 101,075 |
Corporate Debt Securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 13,997 | 302,643 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1,003 | 32,124 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 266,516 | 4,256 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (63,214) | (744) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 280,513 | 306,899 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 64,217 | 32,868 |
Collateralized loan obligations | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 27,704 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 1,818 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 104,823 | 74,558 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (4,345) | (5,080) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 104,823 | 102,262 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 4,345 | 6,898 |
Private label commercial MBS | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 10,204 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 508 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 23,200 | 16,623 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,937) | (1,568) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 23,200 | 26,827 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 1,937 | 2,076 |
SBA securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 17,250 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 1,274 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 15,082 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,278) | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 15,082 | 17,250 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 1,278 | 1,274 |
Private Label Collateralized Mortgage Obligations | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 19,261 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 1,294 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 159,507 | 147,464 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (39,485) | (39,105) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 159,507 | 166,725 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 39,485 | 40,399 |
Asset-backed Securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 22,413 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 1,155 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 21,725 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (391) | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 21,725 | 22,413 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | $ 391 | $ 1,155 |
Investment Securities - Contrac
Investment Securities - Contractual Maturities of Securities Available-for-Sale (Details) $ in Thousands | Jun. 30, 2023 USD ($) |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | $ 4,958 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 942,581 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 1,310,190 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 3,258,094 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 4,959 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 833,791 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 1,121,134 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (2,748,635) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 5,515,823 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 4,708,519 |
Agency residential MBS | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 2,592,344 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (2,168,613) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 2,592,344 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 2,168,613 |
Agency commercial MBS | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 202,143 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 320,570 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 17,736 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 185,585 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 277,605 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (16,767) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 540,449 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 479,957 |
Agency residential CMOs | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 172,382 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 327,719 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 149,975 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (289,252) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 500,101 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 439,227 |
Municipal securities | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 65,454 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 307,486 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 22,260 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 58,119 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 264,120 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (20,550) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 395,200 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 342,789 |
U.S. Treasury securities | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 4,958 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 666,576 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 99,692 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 4,959 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 582,194 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 85,930 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | 0 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 771,226 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 673,083 |
Corporate Debt Securities | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 5,000 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 339,730 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 4,725 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 275,788 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | 0 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 344,730 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 280,513 |
Collateralized loan obligations | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 70,330 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 38,838 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 67,716 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (37,107) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 109,168 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 104,823 |
Private label commercial MBS | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 25,137 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (23,200) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 25,137 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 23,200 |
SBA securities | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 3,408 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 12,952 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 3,168 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (11,914) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 16,360 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 15,082 |
Private Label Collateralized Mortgage Obligations | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 198,992 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (159,507) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 198,992 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 159,507 |
Asset-backed Securities | |
Schedule of Investments [Line Items] | |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 22,116 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due Within One Year Through Five Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (21,725) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 22,116 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | $ 21,725 |
Investment Securities - Secur_2
Investment Securities - Securities Held-to-Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | ||
Schedule of Held-to-maturity Securities [Line Items] | ||||||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | $ 2,279,702 | [1] | $ 2,270,635 | [2] | ||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss, Excluding Accrued Interest | (1,500) | [1] | $ (1,500) | (1,500) | [2] | $ (1,500) | $ 0 | $ 0 |
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss, Total | 2,278,202 | [1] | 2,269,135 | [2] | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 173 | [1] | 8 | [2] | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (157,563) | [1] | (158,671) | [2] | ||||
Debt Securities, Held-to-maturity, Fair Value | 2,120,812 | [1] | 2,110,472 | [2] | ||||
Municipal securities | ||||||||
Schedule of Held-to-maturity Securities [Line Items] | ||||||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 1,245,462 | 1,243,443 | ||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss, Excluding Accrued Interest | (140) | (140) | ||||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss, Total | 1,245,322 | 1,243,303 | ||||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 173 | 8 | ||||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (53,811) | (77,526) | ||||||
Debt Securities, Held-to-maturity, Fair Value | 1,191,684 | 1,165,785 | ||||||
Agency commercial MBS | ||||||||
Schedule of Held-to-maturity Securities [Line Items] | ||||||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 430,578 | 427,411 | ||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss, Excluding Accrued Interest | 0 | 0 | ||||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss, Total | 430,578 | 427,411 | ||||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 | ||||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (35,178) | (34,287) | ||||||
Debt Securities, Held-to-maturity, Fair Value | 395,400 | 393,124 | ||||||
Private label commercial MBS | ||||||||
Schedule of Held-to-maturity Securities [Line Items] | ||||||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 348,123 | 345,825 | ||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss, Excluding Accrued Interest | 0 | 0 | ||||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss, Total | 348,123 | 345,825 | ||||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 | ||||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (34,612) | (26,027) | ||||||
Debt Securities, Held-to-maturity, Fair Value | 313,511 | 319,798 | ||||||
U.S. Treasury securities | ||||||||
Schedule of Held-to-maturity Securities [Line Items] | ||||||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 185,581 | 184,162 | ||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss, Excluding Accrued Interest | 0 | 0 | ||||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss, Total | 185,581 | 184,162 | ||||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 | ||||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (12,987) | (12,462) | ||||||
Debt Securities, Held-to-maturity, Fair Value | 172,594 | 171,700 | ||||||
Corporate Debt Securities | ||||||||
Schedule of Held-to-maturity Securities [Line Items] | ||||||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 69,958 | 69,794 | ||||||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss, Excluding Accrued Interest | (1,360) | (1,360) | ||||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss, Total | 68,598 | 68,434 | ||||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 | ||||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (20,975) | (8,369) | ||||||
Debt Securities, Held-to-maturity, Fair Value | 47,623 | 60,065 | ||||||
Interest Receivable | $ 13,400 | $ 13,500 | ||||||
[1]Excludes accrued interest receivable of $13.4 million at June 30, 2023 which is recorded in "Other assets" on the condensed consolidated balance sheets[2]Excludes accrued interest receivable of $13.5 million at December 31, 2022 which is recorded in "Other assets" on the condensed consolidated balance sheets |
Investment Securities - Secur_3
Investment Securities - Securities Held-to-Maturity Allowance for Credit Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||||||
Allowance for Credit Losses, Beginning of Period | $ 1,500 | $ 0 | $ 1,500 | [1] | $ 0 | |||
Provision for Credit Losses | 0 | 1,500 | 0 | 1,500 | ||||
Charge-offs | 0 | 0 | 0 | 0 | ||||
Recoveries | 0 | 0 | 0 | 0 | ||||
Allowance for Credit Losses, End of Period | 1,500 | [2] | 1,500 | 1,500 | [2] | 1,500 | ||
Debt Securities, Held-to-maturity, Fair Value | 2,120,812 | [2] | 2,120,812 | [2] | $ 2,110,472 | [1] | ||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 173 | [2] | 173 | [2] | 8 | [1] | ||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (157,563) | [2] | (157,563) | [2] | (158,671) | [1] | ||
U.S. Treasury securities | ||||||||
Schedule of Held-to-maturity Securities [Line Items] | ||||||||
Allowance for Credit Losses, Beginning of Period | 0 | |||||||
Allowance for Credit Losses, End of Period | 0 | 0 | ||||||
Debt Securities, Held-to-maturity, Fair Value | 172,594 | 172,594 | 171,700 | |||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 | 0 | |||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (12,987) | (12,987) | (12,462) | |||||
Municipal securities | ||||||||
Schedule of Held-to-maturity Securities [Line Items] | ||||||||
Allowance for Credit Losses, Beginning of Period | 140 | |||||||
Allowance for Credit Losses, End of Period | 140 | 140 | ||||||
Debt Securities, Held-to-maturity, Fair Value | 1,191,684 | 1,191,684 | 1,165,785 | |||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 173 | 173 | 8 | |||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (53,811) | (53,811) | (77,526) | |||||
Agency commercial MBS | ||||||||
Schedule of Held-to-maturity Securities [Line Items] | ||||||||
Allowance for Credit Losses, Beginning of Period | 0 | |||||||
Allowance for Credit Losses, End of Period | 0 | 0 | ||||||
Debt Securities, Held-to-maturity, Fair Value | 395,400 | 395,400 | 393,124 | |||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 | 0 | |||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (35,178) | (35,178) | (34,287) | |||||
Private label commercial MBS | ||||||||
Schedule of Held-to-maturity Securities [Line Items] | ||||||||
Allowance for Credit Losses, Beginning of Period | 0 | |||||||
Allowance for Credit Losses, End of Period | 0 | 0 | ||||||
Debt Securities, Held-to-maturity, Fair Value | 313,511 | 313,511 | 319,798 | |||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 | 0 | |||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (34,612) | (34,612) | (26,027) | |||||
Corporate Debt Securities | ||||||||
Schedule of Held-to-maturity Securities [Line Items] | ||||||||
Allowance for Credit Losses, Beginning of Period | 1,360 | |||||||
Allowance for Credit Losses, End of Period | 1,360 | 1,360 | ||||||
Debt Securities, Held-to-maturity, Fair Value | 47,623 | 47,623 | 60,065 | |||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 | 0 | |||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (20,975) | (20,975) | $ (8,369) | |||||
Municipal securities | ||||||||
Schedule of Held-to-maturity Securities [Line Items] | ||||||||
Allowance for Credit Losses, Beginning of Period | 140 | 0 | 140 | 0 | ||||
Provision for Credit Losses | 0 | 140 | 0 | 140 | ||||
Charge-offs | 0 | 0 | 0 | 0 | ||||
Recoveries | 0 | 0 | 0 | 0 | ||||
Allowance for Credit Losses, End of Period | 140 | 140 | 140 | 140 | ||||
Corporate Debt Securities | ||||||||
Schedule of Held-to-maturity Securities [Line Items] | ||||||||
Allowance for Credit Losses, Beginning of Period | 1,360 | 0 | 1,360 | 0 | ||||
Provision for Credit Losses | 0 | 1,360 | 0 | 1,360 | ||||
Charge-offs | 0 | 0 | 0 | 0 | ||||
Recoveries | 0 | 0 | 0 | 0 | ||||
Allowance for Credit Losses, End of Period | $ 1,360 | $ 1,360 | $ 1,360 | $ 1,360 | ||||
[1]Excludes accrued interest receivable of $13.5 million at December 31, 2022 which is recorded in "Other assets" on the condensed consolidated balance sheets[2]Excludes accrued interest receivable of $13.4 million at June 30, 2023 which is recorded in "Other assets" on the condensed consolidated balance sheets |
Investment Securities - Secur_4
Investment Securities - Securities Held-to-Maturity Credit Quality Indicators (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | ||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | $ 2,279,702 | [1] | $ 2,270,635 | [2] |
Standard & Poor's, AAA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 900,254 | 914,499 | ||
Standard & Poor's, AA+ Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 1,019,659 | 997,563 | ||
Standard & Poor's, AA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 166,760 | 173,751 | ||
Standard & Poor's, A Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 1,894 | 1,901 | ||
Standard & Poor's, A- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 23,244 | ||
Standard & Poor's, BBB Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 44,306 | 20,999 | ||
Standard & Poor's, No Credit Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 48,751 | 43,207 | ||
Standard & Poor's, AA- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 86,060 | 95,471 | ||
Standard & Poor's, A+ Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 12,018 | 0 | ||
Municipal securities | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 1,245,462 | 1,243,443 | ||
Municipal securities | Standard & Poor's, AAA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 552,131 | 568,674 | ||
Municipal securities | Standard & Poor's, AA+ Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 403,500 | 385,990 | ||
Municipal securities | Standard & Poor's, AA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 166,760 | 173,751 | ||
Municipal securities | Standard & Poor's, A Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 1,894 | 1,901 | ||
Municipal securities | Standard & Poor's, A- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Municipal securities | Standard & Poor's, BBB Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Municipal securities | Standard & Poor's, No Credit Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 23,099 | 17,656 | ||
Municipal securities | Standard & Poor's, AA- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 86,060 | 95,471 | ||
Municipal securities | Standard & Poor's, A+ Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 12,018 | 0 | ||
Agency commercial MBS | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 430,578 | 427,411 | ||
Agency commercial MBS | Standard & Poor's, AAA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Agency commercial MBS | Standard & Poor's, AA+ Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 430,578 | 427,411 | ||
Agency commercial MBS | Standard & Poor's, AA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Agency commercial MBS | Standard & Poor's, A Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Agency commercial MBS | Standard & Poor's, A- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Agency commercial MBS | Standard & Poor's, BBB Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Agency commercial MBS | Standard & Poor's, No Credit Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Agency commercial MBS | Standard & Poor's, AA- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Agency commercial MBS | Standard & Poor's, A+ Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Private label commercial MBS | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 348,123 | 345,825 | ||
Private label commercial MBS | Standard & Poor's, AAA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 348,123 | 345,825 | ||
Private label commercial MBS | Standard & Poor's, AA+ Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Private label commercial MBS | Standard & Poor's, AA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Private label commercial MBS | Standard & Poor's, A Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Private label commercial MBS | Standard & Poor's, A- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Private label commercial MBS | Standard & Poor's, BBB Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Private label commercial MBS | Standard & Poor's, No Credit Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Private label commercial MBS | Standard & Poor's, AA- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Private label commercial MBS | Standard & Poor's, A+ Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
U.S. Treasury securities | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 185,581 | 184,162 | ||
U.S. Treasury securities | Standard & Poor's, AAA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
U.S. Treasury securities | Standard & Poor's, AA+ Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 185,581 | 184,162 | ||
U.S. Treasury securities | Standard & Poor's, AA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
U.S. Treasury securities | Standard & Poor's, A Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
U.S. Treasury securities | Standard & Poor's, A- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
U.S. Treasury securities | Standard & Poor's, BBB Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
U.S. Treasury securities | Standard & Poor's, No Credit Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
U.S. Treasury securities | Standard & Poor's, AA- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
U.S. Treasury securities | Standard & Poor's, A+ Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Corporate Debt Securities | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 69,958 | 69,794 | ||
Corporate Debt Securities | Standard & Poor's, AAA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Corporate Debt Securities | Standard & Poor's, AA+ Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Corporate Debt Securities | Standard & Poor's, AA Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Corporate Debt Securities | Standard & Poor's, A Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Corporate Debt Securities | Standard & Poor's, A- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 23,244 | ||
Corporate Debt Securities | Standard & Poor's, BBB Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 44,306 | 20,999 | ||
Corporate Debt Securities | Standard & Poor's, No Credit Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 25,652 | 25,551 | ||
Corporate Debt Securities | Standard & Poor's, AA- Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Corporate Debt Securities | Standard & Poor's, A+ Rating | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | $ 0 | $ 0 | ||
[1]Excludes accrued interest receivable of $13.4 million at June 30, 2023 which is recorded in "Other assets" on the condensed consolidated balance sheets[2]Excludes accrued interest receivable of $13.5 million at December 31, 2022 which is recorded in "Other assets" on the condensed consolidated balance sheets |
Investment Securities - Secur_5
Investment Securities - Securities Held-to-Maturity Contractual Maturities (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | ||
Debt Securities, Held-to-maturity, Maturity [Abstract] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Year One | $ 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year One through Five | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Rolling after One through Five Years | 1,009,597 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year 10 | 1,270,105 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 937,892 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 1,182,920 | |||
Debt Securities, Held-to-maturity, Fair Value | 2,120,812 | [1] | $ 2,110,472 | [2] |
Municipal securities | ||||
Debt Securities, Held-to-maturity, Maturity [Abstract] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year One through Five | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Rolling after One through Five Years | 368,095 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year 10 | 877,367 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 348,295 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 843,389 | |||
Debt Securities, Held-to-maturity, Fair Value | 1,191,684 | 1,165,785 | ||
Agency commercial MBS | ||||
Debt Securities, Held-to-maturity, Maturity [Abstract] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year One through Five | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Rolling after One through Five Years | 409,517 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year 10 | 21,061 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 375,946 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 19,454 | |||
Debt Securities, Held-to-maturity, Fair Value | 395,400 | 393,124 | ||
Private label commercial MBS | ||||
Debt Securities, Held-to-maturity, Maturity [Abstract] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year One through Five | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Rolling after One through Five Years | 36,193 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year 10 | 311,930 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 33,057 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 280,454 | |||
Debt Securities, Held-to-maturity, Fair Value | 313,511 | 319,798 | ||
U.S. Treasury securities | ||||
Debt Securities, Held-to-maturity, Maturity [Abstract] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year One through Five | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Rolling after One through Five Years | 185,581 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year 10 | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 172,594 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 0 | |||
Debt Securities, Held-to-maturity, Fair Value | 172,594 | 171,700 | ||
Corporate Debt Securities | ||||
Debt Securities, Held-to-maturity, Maturity [Abstract] | ||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year One through Five | 0 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Rolling after One through Five Years | 10,211 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year 10 | 59,747 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 0 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 8,000 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 39,623 | |||
Debt Securities, Held-to-maturity, Fair Value | $ 47,623 | $ 60,065 | ||
[1]Excludes accrued interest receivable of $13.4 million at June 30, 2023 which is recorded in "Other assets" on the condensed consolidated balance sheets[2]Excludes accrued interest receivable of $13.5 million at December 31, 2022 which is recorded in "Other assets" on the condensed consolidated balance sheets |
Investment Securities - Interes
Investment Securities - Interest Income on Investment Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Taxable interest | $ 38,207 | $ 44,467 | $ 76,899 | $ 89,109 |
Non-taxable interest | 4,922 | 8,180 | 9,825 | 16,699 |
Dividend income | 1,024 | 255 | 1,666 | 516 |
Total interest income on investment securities | $ 44,153 | $ 52,902 | $ 88,390 | $ 106,324 |
Investment Securities - Narrati
Investment Securities - Narrative (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 01, 2022 | Jun. 30, 2023 | |
Schedule of Held-to-maturity Securities [Line Items] | ||
OCI, Debt Securities, Available-for-Sale, Transfer from Held-to-Maturity, Gain (Loss), before Adjustment and Tax | $ 218.3 | |
Held-to-maturity Securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities Loaned, Fair Value of Collateral | 2,100 | |
Transfer to Investments | $ 2,300 | |
Debt Securities, Held-to-Maturity, Restricted | 2,200 | |
Available-for-sale Securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities Loaned, Fair Value of Collateral | $ 4,400 |
Loans and Leases - Loans and Le
Loans and Leases - Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | |
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Gross loans and leases held for investment | $ 22,311,292 | $ 28,726,016 | |||||
Deferred fees, net | (53,082) | (116,887) | |||||
Loans held for investment, net | 22,258,210 | 28,609,129 | $ 26,501,137 | ||||
Allowance for loan and lease losses | (219,234) | $ (210,055) | (200,732) | (188,705) | $ (197,398) | $ (200,564) | |
Loans and leases, net | [1] | 22,038,976 | 28,408,397 | ||||
Land and Acquisitions and Development Loans | 187,600 | 153,500 | |||||
Real Estate Mortgage | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Gross loans and leases held for investment | 14,312,273 | 15,762,351 | |||||
Loans held for investment, net | 14,288,042 | 15,730,324 | 14,054,085 | ||||
Allowance for loan and lease losses | (132,808) | (109,483) | (87,309) | (85,896) | (87,228) | (98,624) | |
Real Estate Construction and Land | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Gross loans and leases held for investment | [2] | 2,491,483 | 4,221,853 | ||||
Loans held for investment, net | 2,465,523 | 4,152,172 | 3,486,600 | ||||
Allowance for loan and lease losses | (39,679) | (55,034) | (52,320) | (41,169) | (43,648) | (44,508) | |
Commercial | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Gross loans and leases held for investment | 5,097,714 | 8,297,182 | |||||
Loans held for investment, net | 5,094,786 | 8,281,962 | 8,476,806 | ||||
Allowance for loan and lease losses | (37,221) | (37,195) | (52,849) | (54,031) | (57,056) | (48,718) | |
Consumer | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Gross loans and leases held for investment | 409,822 | 444,630 | |||||
Loans held for investment, net | 409,859 | 444,671 | 483,646 | ||||
Allowance for loan and lease losses | (9,526) | $ (8,343) | (8,254) | $ (7,609) | $ (9,466) | $ (8,714) | |
Loans and Finance Receivables [Member] | |||||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||||
Interest Receivable | $ 103,800 | $ 124,300 | |||||
[1]Excludes accrued interest receivable of $103.8 million and $124.3 million at June 30, 2023 and December 31, 2022, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets.[2]Includes land and acquisition and development loans of $187.6 million and $153.5 million at June 30, 2023 and December 31, 2022 |
Loans and Leases - Aging Analys
Loans and Leases - Aging Analysis of Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 |
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | $ 22,258,210 | $ 28,609,129 | $ 26,501,137 |
Financing Receivable Recorded Investment Total Past Due | 119,750 | 176,767 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 22,138,460 | 28,432,362 | |
30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 57,428 | 105,845 | |
90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 62,322 | 70,922 | |
Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 14,288,042 | 15,730,324 | 14,054,085 |
Financing Receivable Recorded Investment Total Past Due | 114,656 | 172,593 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 14,173,386 | 15,557,731 | |
Real Estate Mortgage | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 53,296 | 103,449 | |
Real Estate Mortgage | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 61,360 | 69,144 | |
Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,465,523 | 4,152,172 | 3,486,600 |
Financing Receivable Recorded Investment Total Past Due | 0 | 0 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 2,465,523 | 4,152,172 | |
Real Estate Construction and Land | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 0 | 0 | |
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 | |
Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 5,094,786 | 8,281,962 | 8,476,806 |
Financing Receivable Recorded Investment Total Past Due | 2,882 | 2,090 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 5,091,904 | 8,279,872 | |
Commercial | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 2,107 | 461 | |
Commercial | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 775 | 1,629 | |
Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 409,859 | 444,671 | $ 483,646 |
Financing Receivable Recorded Investment Total Past Due | 2,212 | 2,084 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 407,647 | 442,587 | |
Consumer | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 2,025 | 1,935 | |
Consumer | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 187 | 149 | |
Asset-based | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,357,098 | 5,140,209 | |
Financing Receivable Recorded Investment Total Past Due | 385 | 434 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 2,356,713 | 5,139,775 | |
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 | 385 | 434 | |
Venture Capital Loans | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,723,476 | 2,033,302 | |
Financing Receivable Recorded Investment Total Past Due | 1,845 | 0 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 1,721,631 | 2,033,302 | |
Venture Capital Loans | Commercial | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 1,845 | 0 | |
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 | 1,014,212 | 1,108,451 | |
Financing Receivable Recorded Investment Total Past Due | 652 | 1,656 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 1,013,560 | 1,106,795 | |
Other Commercial | Commercial | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 262 | 461 | |
Other Commercial | Commercial | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 390 | 1,195 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 415,997 | 898,592 | |
Financing Receivable Recorded Investment Total Past Due | 0 | 0 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 415,997 | 898,592 | |
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 | 2,049,526 | 3,253,580 | |
Financing Receivable Recorded Investment Total Past Due | 0 | 0 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 2,049,526 | 3,253,580 | |
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 | 0 | 0 | |
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 | 0 | 0 | |
Commercial | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,610,320 | 3,846,831 | |
Financing Receivable Recorded Investment Total Past Due | 24,089 | 30,990 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 3,586,231 | 3,815,841 | |
Commercial | Real Estate Mortgage | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 938 | 1,721 | |
Commercial | Real Estate Mortgage | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 23,151 | 29,269 | |
Multi-Family Real Estate Loans | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 5,304,544 | 5,607,865 | |
Financing Receivable Recorded Investment Total Past Due | 0 | 0 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 5,304,544 | 5,607,865 | |
Multi-Family Real Estate Loans | Real Estate Mortgage | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 0 | 0 | |
Multi-Family Real Estate Loans | Real Estate Mortgage | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 0 | 0 | |
Other Residential Real Estate | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 5,373,178 | 6,275,628 | |
Financing Receivable Recorded Investment Total Past Due | 90,567 | 141,603 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 5,282,611 | 6,134,025 | |
Other Residential Real Estate | Real Estate Mortgage | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 52,358 | 101,728 | |
Other Residential Real Estate | Real Estate Mortgage | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | $ 38,209 | $ 39,875 |
Loans and Leases - Nonaccrual a
Loans and Leases - Nonaccrual and Performing Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 |
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | $ 104,886 | $ 103,778 | $ 78,527 |
Loans held for investment, net | 22,258,210 | 28,609,129 | 26,501,137 |
Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 100,817 | 98,402 | 62,996 |
Loans held for investment, net | 14,288,042 | 15,730,324 | 14,054,085 |
Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 0 | 0 | 6,344 |
Loans held for investment, net | 2,465,523 | 4,152,172 | 3,486,600 |
Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 3,864 | 5,210 | 8,964 |
Loans held for investment, net | 5,094,786 | 8,281,962 | 8,476,806 |
Consumer | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 205 | 166 | 223 |
Loans held for investment, net | 409,859 | 444,671 | $ 483,646 |
Performing | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 22,153,324 | 28,505,351 | |
Performing | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 14,187,225 | 15,631,922 | |
Performing | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 2,465,523 | 4,152,172 | |
Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 5,090,922 | 8,276,752 | |
Performing | Consumer | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 409,654 | 444,505 | |
Asset-based | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 385 | 865 | |
Loans held for investment, net | 2,357,098 | 5,140,209 | |
Asset-based | Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 2,356,713 | 5,139,344 | |
Venture Capital Loans | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 0 | 0 | |
Loans held for investment, net | 1,723,476 | 2,033,302 | |
Venture Capital Loans | Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 1,723,476 | 2,033,302 | |
Other Commercial | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 3,479 | 4,345 | |
Loans held for investment, net | 1,014,212 | 1,108,451 | |
Other Commercial | Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 1,010,733 | 1,104,106 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 0 | 0 | |
Loans held for investment, net | 415,997 | 898,592 | |
Commercial Real Estate Construction Loan Receivable | Performing | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 415,997 | 898,592 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 0 | 0 | |
Loans held for investment, net | 2,049,526 | 3,253,580 | |
Residential Real Estate Construction Financing Receivable | Performing | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 2,049,526 | 3,253,580 | |
Commercial | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 37,191 | 42,509 | |
Loans held for investment, net | 3,610,320 | 3,846,831 | |
Commercial | Performing | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 3,573,129 | 3,804,322 | |
Multi-Family Real Estate Loans | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 0 | 0 | |
Loans held for investment, net | 5,304,544 | 5,607,865 | |
Multi-Family Real Estate Loans | Performing | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 5,304,544 | 5,607,865 | |
Other Residential Real Estate | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 63,626 | 55,893 | |
Loans held for investment, net | 5,373,178 | 6,275,628 | |
Other Residential Real Estate | Performing | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | $ 5,309,552 | $ 6,219,735 |
Loans and Leases - Credit Risk
Loans and Leases - Credit Risk Rating Categories for Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 |
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | $ 22,258,210 | $ 28,609,129 | $ 26,501,137 |
Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 14,288,042 | 15,730,324 | 14,054,085 |
Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,465,523 | 4,152,172 | 3,486,600 |
Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 5,094,786 | 8,281,962 | 8,476,806 |
Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 409,859 | 444,671 | $ 483,646 |
Classified | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 211,934 | 118,271 | |
Classified | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 199,707 | 107,905 | |
Classified | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 0 | 0 | |
Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 11,780 | 10,091 | |
Classified | Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 447 | 275 | |
Special Mention | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 366,368 | 566,259 | |
Special Mention | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 207,869 | 224,886 | |
Special Mention | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,376 | 136,489 | |
Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 148,267 | 197,976 | |
Special Mention | Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 7,856 | 6,908 | |
Pass | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 21,679,908 | 27,924,599 | |
Pass | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 13,880,466 | 15,397,533 | |
Pass | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,463,147 | 4,015,683 | |
Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 4,934,739 | 8,073,895 | |
Pass | Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 401,556 | 437,488 | |
Asset-based | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,357,098 | 5,140,209 | |
Asset-based | Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,650 | 865 | |
Asset-based | Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 13,368 | 56,836 | |
Asset-based | Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,340,080 | 5,082,508 | |
Venture Capital Loans | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,723,476 | 2,033,302 | |
Venture Capital Loans | Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,614 | 2,753 | |
Venture Capital Loans | Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 122,482 | 127,907 | |
Venture Capital Loans | Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,598,380 | 1,902,642 | |
Other Commercial | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,014,212 | 1,108,451 | |
Other Commercial | Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 5,516 | 6,473 | |
Other Commercial | Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 12,417 | 13,233 | |
Other Commercial | Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 996,279 | 1,088,745 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 415,997 | 898,592 | |
Commercial Real Estate Construction Loan Receivable | Classified | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 0 | 0 | |
Commercial Real Estate Construction Loan Receivable | Special Mention | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 0 | 91,334 | |
Commercial Real Estate Construction Loan Receivable | Pass | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 415,997 | 807,258 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,049,526 | 3,253,580 | |
Residential Real Estate Construction Financing Receivable | Classified | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 0 | 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 | 2,376 | 45,155 | |
Residential Real Estate Construction Financing Receivable | Pass | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,047,150 | 3,208,425 | |
Commercial | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,610,320 | 3,846,831 | |
Commercial | Classified | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 39,768 | 43,737 | |
Commercial | Special Mention | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 121,084 | 106,493 | |
Commercial | Pass | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,449,468 | 3,696,601 | |
Multi-Family Real Estate Loans | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 5,304,544 | 5,607,865 | |
Multi-Family Real Estate Loans | Classified | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 87,390 | 3,611 | |
Multi-Family Real Estate Loans | Special Mention | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 30,743 | 60,330 | |
Multi-Family Real Estate Loans | Pass | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 5,186,411 | 5,543,924 | |
Other Residential Real Estate | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 5,373,178 | 6,275,628 | |
Other Residential Real Estate | Classified | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 72,549 | 60,557 | |
Other Residential Real Estate | Special Mention | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 56,042 | 58,063 | |
Other Residential Real Estate | Pass | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | $ 5,244,587 | 6,157,008 | |
Non Purchased Credit Impaired Loans and Leases | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | $ 28,609,129 |
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 | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | $ 104,886 | $ 78,527 | $ 104,886 | $ 78,527 | $ 103,778 |
Financing Receivable, Nonaccrual, Interest Income | 104 | 21 | 107 | 459 | |
Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 100,817 | 62,996 | 100,817 | 62,996 | 98,402 |
Financing Receivable, Nonaccrual, Interest Income | 104 | 14 | 107 | 98 | |
Real Estate Construction and Land | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 0 | 6,344 | 0 | 6,344 | 0 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 3,864 | 8,964 | 3,864 | 8,964 | 5,210 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 7 | 0 | 361 | |
Consumer | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 205 | 223 | 205 | 223 | 166 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Finance Receivable Allowance | Consumer | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 205 | 223 | 205 | 223 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
No Finance Receivable Allowance | Consumer | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |||
Financing Receivable, Nonaccrual, No Allowance | 0 | 0 | 0 | 0 | |
Commercial | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 37,191 | 37,191 | 42,509 | ||
Financing Receivable, Nonaccrual, No Allowance | 37,134 | 28,463 | 37,134 | 28,463 | |
Commercial | Finance Receivable Allowance | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 57 | 66 | 57 | 66 | |
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 | 104 | 14 | 107 | 98 | |
Multi-Family Real Estate Loans | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 0 | 0 | 0 | ||
Financing Receivable, Nonaccrual, No Allowance | 0 | 0 | 0 | 0 | |
Multi-Family Real Estate Loans | Finance Receivable Allowance | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 0 | 0 | 0 | 0 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Multi-Family Real Estate Loans | No Finance Receivable Allowance | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Other Residential Real Estate | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 63,626 | 63,626 | 55,893 | ||
Financing Receivable, Nonaccrual, No Allowance | 63,230 | 26,995 | 63,230 | 26,995 | |
Other Residential Real Estate | Finance Receivable Allowance | Real Estate Mortgage | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 396 | 7,472 | 396 | 7,472 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Other Residential Real Estate | 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 | 0 | ||
Financing Receivable, Nonaccrual, No Allowance | 0 | 5,229 | 0 | 5,229 | |
Commercial Real Estate Construction Loan Receivable | Finance Receivable Allowance | Real Estate Construction and Land | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 0 | 0 | 0 | 0 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |||
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 | 0 | 0 | 0 | ||
Financing Receivable, Nonaccrual, No Allowance | 0 | 0 | 0 | 0 | |
Residential Real Estate Construction Financing Receivable | Finance Receivable Allowance | Real Estate Construction and Land | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 0 | 1,115 | 0 | 1,115 | |
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 | 385 | 385 | 865 | ||
Financing Receivable, Nonaccrual, No Allowance | 385 | 441 | 385 | 441 | |
Asset-based | Finance Receivable Allowance | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 0 | 748 | 0 | 748 | |
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 | 0 | 0 | 0 | ||
Financing Receivable, Nonaccrual, No Allowance | 0 | 0 | 0 | 0 | |
Venture Capital Loans | Finance Receivable Allowance | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 0 | 3,120 | 0 | 3,120 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | 0 | 0 | |
Venture Capital Loans | No Finance Receivable Allowance | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |||
Other Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Financing Receivable, Nonaccrual, No Allowance | 2,741 | 3,393 | 2,741 | 3,393 | |
Other Commercial | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 3,479 | 3,479 | $ 4,345 | ||
Other Commercial | Finance Receivable Allowance | Commercial | |||||
Financing Receivable, Nonaccrual [Line Items] | |||||
Nonaccrual | 738 | 1,262 | 738 | 1,262 | |
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 | $ 0 | $ 7 | $ 0 | $ 361 |
Loans and Leases - Loans Held f
Loans and Leases - Loans Held for Investment by Loan Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | |
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | $ 22,258,210 | $ 28,609,129 | $ 26,501,137 | |
Allowance for Loan and Lease Losses, Write-offs | $ 14,037 | 42,105 | ||
Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 14,288,042 | 15,730,324 | 14,054,085 | |
Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 415,997 | 898,592 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,049,526 | 3,253,580 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 5,094,786 | 8,281,962 | 8,476,806 | |
Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 409,859 | 444,671 | $ 483,646 | |
Allowance for Loan and Lease Losses, Write-offs | 2,164 | 911 | ||
Revolving Credit Facility [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,642,373 | 5,448,328 | ||
Allowance for Loan and Lease Losses, Write-offs | 3,596 | 305 | ||
Revolving Credit Facility [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 | ||
Revolving Credit Facility [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 70,879 | 48,555 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Revolving Credit Facility [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 8,565 | 9,653 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 1 | ||
Revolving Converted To Term Loan [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 89,826 | 156,492 | ||
Allowance for Loan and Lease Losses, Write-offs | 481 | 493 | ||
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 | ||
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 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Revolving Converted To Term Loan [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 18 | 16 | ||
Allowance for Loan and Lease Losses, Write-offs | 7 | 12 | ||
Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 447,217 | 7,279,019 | ||
Allowance for Loan and Lease Losses, Write-offs | 558 | 2,586 | ||
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 | 15,191 | 299,538 | ||
Allowance for Loan and Lease Losses, 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 | 20,677 | 605,683 | ||
Allowance for Loan and Lease Losses, 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 | 67 | 64,201 | ||
Allowance for Loan and Lease Losses, Write-offs | 309 | 0 | ||
Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 6,287,994 | 7,508,907 | ||
Allowance for Loan and Lease Losses, Write-offs | 1,889 | 25,600 | ||
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 | 196,205 | 170,397 | ||
Allowance for Loan and Lease Losses, 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 | 779,682 | 1,302,061 | ||
Allowance for Loan and Lease Losses, 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 | 61,009 | 229,604 | ||
Allowance for Loan and Lease Losses, Write-offs | 529 | 221 | ||
Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 6,550,770 | 2,248,240 | ||
Allowance for Loan and Lease Losses, Write-offs | 1,149 | 5,044 | ||
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 | 113,939 | 74,634 | ||
Allowance for Loan and Lease Losses, 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 | 692,191 | 844,041 | ||
Allowance for Loan and Lease Losses, 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 | 214,256 | 21,269 | ||
Allowance for Loan and Lease Losses, Write-offs | 237 | 273 | ||
Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,785,708 | 2,083,227 | ||
Allowance for Loan and Lease Losses, Write-offs | 808 | 708 | ||
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 | 58,864 | 237,294 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 460,255 | 327,231 | ||
Allowance for Loan and Lease Losses, 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 | 19,459 | 49,727 | ||
Allowance for Loan and Lease Losses, Write-offs | 728 | 76 | ||
Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,216,749 | 1,570,629 | ||
Allowance for Loan and Lease Losses, Write-offs | 2,258 | 171 | ||
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 | 26,048 | 109,097 | ||
Allowance for Loan and Lease Losses, 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 | 0 | 125,805 | ||
Allowance for Loan and Lease Losses, 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 | 44,760 | 32,051 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 144 | ||
Prior [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 3,237,573 | 2,314,287 | ||
Allowance for Loan and Lease Losses, Write-offs | 3,298 | 7,198 | ||
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 | 5,750 | 7,632 | ||
Allowance for Loan and Lease Losses, 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 | 25,842 | 204 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Prior [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 61,725 | 38,150 | ||
Allowance for Loan and Lease Losses, Write-offs | 354 | 184 | ||
1-2 High Pass [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,721,586 | 2,517,968 | ||
1-2 High Pass [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,169 | 926 | ||
1-2 High Pass [Member] | Revolving Credit Facility [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 272,431 | 1,090,668 | ||
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 | 1,107 | 854 | ||
1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (420) | 503 | ||
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 | 5,821 | 233,682 | ||
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 | 34 | ||
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 | 298,459 | 313,224 | ||
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 | 30 | 30 | ||
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 | 346,572 | 86,906 | ||
1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 26 | 7 | ||
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 | 104,525 | 286,631 | ||
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 | 0 | ||
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 | 240,504 | 192,647 | ||
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 | 0 | 1 | ||
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 | 453,694 | 313,707 | ||
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 | 19,958,322 | 25,406,631 | ||
3-4 Pass [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 415,997 | 807,258 | ||
3-4 Pass [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,047,150 | 3,208,425 | ||
3-4 Pass [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 400,387 | 436,562 | ||
3-4 Pass [Member] | Revolving Credit Facility [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,310,040 | 4,305,696 | ||
3-4 Pass [Member] | Revolving Credit Facility [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
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 | 70,879 | 48,555 | ||
3-4 Pass [Member] | Revolving Credit Facility [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 7,375 | 8,739 | ||
3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 88,602 | 149,159 | ||
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 | 0 | 0 | ||
3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
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 | 433,666 | 6,976,510 | ||
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 | 15,191 | 299,538 | ||
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 | 20,677 | 605,683 | ||
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 | 67 | 62,868 | ||
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 | 5,900,040 | 7,087,371 | ||
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 | 196,205 | 170,397 | ||
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 | 779,682 | 1,302,061 | ||
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 | 59,240 | 226,084 | ||
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 | 6,087,735 | 2,139,818 | ||
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 | 113,939 | 74,634 | ||
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 | 689,815 | 844,041 | ||
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 | 209,923 | 20,798 | ||
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 | 1,619,831 | 1,647,953 | ||
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 | 58,864 | 237,294 | ||
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 | 460,255 | 282,076 | ||
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 | 19,253 | 48,542 | ||
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 | 928,314 | 1,245,216 | ||
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 | 26,048 | 17,763 | ||
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 | 0 | 125,805 | ||
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 | 42,953 | 31,693 | ||
3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,590,094 | 1,854,908 | ||
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 | 5,750 | 7,632 | ||
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 | 25,842 | 204 | ||
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 | 61,576 | 37,838 | ||
5 Special Mention [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 366,368 | 566,259 | ||
5 Special Mention [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 91,334 | ||
5 Special Mention [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,376 | 45,155 | ||
5 Special Mention [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 7,856 | 6,908 | ||
5 Special Mention [Member] | Revolving Credit Facility [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 55,086 | 50,364 | ||
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 | 82 | 60 | ||
5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 104 | 5,082 | ||
5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 8,552 | 49,532 | ||
5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 1,252 | ||
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 | 55,878 | 70,976 | ||
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 | 0 | 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 | 1,739 | 3,490 | ||
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 | 73,373 | 15,719 | ||
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 | 0 | ||
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 | 2,376 | 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 | 4,075 | 464 | ||
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 | 47,919 | 146,955 | ||
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 | 0 | ||
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 | 45,155 | ||
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 | 167 | 1,126 | ||
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 | 21,791 | 102,544 | ||
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 | 0 | 91,334 | ||
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 | 1,734 | 278 | ||
5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 103,665 | 125,087 | ||
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 | 59 | 238 | ||
6-8 Classified [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 211,934 | 118,271 | ||
6-8 Classified [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] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 447 | 275 | ||
6-8 Classified [Member] | Revolving Credit Facility [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 4,816 | 1,600 | ||
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 | 1 | 0 | ||
6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,540 | 1,748 | ||
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 | 18 | 16 | ||
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 | (822) | 19,295 | ||
6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 47 | ||
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 | 33,617 | 37,336 | ||
6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
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 | 43,090 | 5,797 | ||
6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Commercial Real Estate Construction Loan Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 232 | 0 | ||
6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 13,433 | 1,688 | ||
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 | 33 | 59 | ||
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 | 26,140 | 30,222 | ||
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 | 0 | ||
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 | 73 | 79 | ||
6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 90,120 | 20,585 | ||
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 | 0 | ||
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 | 90 | 74 | ||
Commercial | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 3,610,320 | 3,846,831 | ||
Allowance for Loan and Lease Losses, Write-offs | 2,730 | 7,037 | ||
Commercial | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 95,216 | 86,574 | ||
Allowance for Loan and Lease Losses, 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 | 9,763 | 10,065 | ||
Allowance for Loan and Lease Losses, 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 | 52,016 | 542,888 | ||
Allowance for Loan and Lease Losses, 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 | 542,847 | 505,926 | ||
Allowance for Loan and Lease Losses, Write-offs | 67 | 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 | 512,776 | 476,199 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
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 | 467,720 | 366,284 | ||
Allowance for Loan and Lease Losses, Write-offs | 79 | 0 | ||
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 | 278,434 | 574,081 | ||
Allowance for Loan and Lease Losses, Write-offs | 2,258 | 27 | ||
Commercial | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,651,548 | 1,284,814 | ||
Allowance for Loan and Lease Losses, Write-offs | 326 | 7,010 | ||
Commercial | 1-2 High Pass [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 96,703 | 83,418 | ||
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 | 1,305 | 1,290 | ||
Commercial | 1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Commercial | 1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 4,957 | ||
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 | 4,822 | 3,791 | ||
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 | 5,168 | 7,215 | ||
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 | 11,574 | 26,132 | ||
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 | 26,399 | 4,690 | ||
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 | 47,435 | 35,343 | ||
Commercial | 3-4 Pass [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 3,352,765 | 3,613,183 | ||
Commercial | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 93,911 | 85,284 | ||
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 | 9,763 | 10,065 | ||
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 | 51,196 | 537,931 | ||
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 | 535,474 | 501,576 | ||
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 | 507,068 | 467,792 | ||
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 | 428,682 | 322,448 | ||
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 | 235,107 | 539,701 | ||
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 | 1,491,564 | 1,148,386 | ||
Commercial | 5 Special Mention [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 121,084 | 106,493 | ||
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 | 0 | ||
Commercial | 5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,551 | 0 | ||
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 | 0 | 728 | ||
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 | 27,012 | 16,394 | ||
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 | 14,062 | 2,294 | ||
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 | 77,459 | 87,077 | ||
Commercial | 6-8 Classified [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 39,768 | 43,737 | ||
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 | 820 | 0 | ||
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 | 0 | 559 | ||
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 | 540 | 464 | ||
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 | 452 | 1,310 | ||
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 | 2,866 | 27,396 | ||
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 | 35,090 | 14,008 | ||
Multi-Family Real Estate Loans | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 5,304,544 | 5,607,865 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Multi-Family Real Estate Loans | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 56,503 | 57,639 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Multi-Family Real Estate Loans | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Multi-Family Real Estate Loans | 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 | 9,085 | 1,940,337 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Multi-Family Real Estate Loans | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,889,437 | 1,173,718 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Multi-Family Real Estate Loans | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,165,451 | 548,534 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Multi-Family Real Estate Loans | 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 | 546,641 | 751,418 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Multi-Family Real Estate Loans | 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 | 635,123 | 522,959 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Multi-Family Real Estate Loans | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,002,304 | 613,260 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Multi-Family Real Estate Loans | 1-2 High Pass [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 327,455 | 303,495 | ||
Multi-Family Real Estate Loans | 1-2 High Pass [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Multi-Family Real Estate Loans | 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 | ||
Multi-Family Real Estate Loans | 1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Multi-Family Real Estate Loans | 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 | 28,248 | 89,251 | ||
Multi-Family Real Estate Loans | 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 | 107,068 | 19,945 | ||
Multi-Family Real Estate Loans | 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 | 32,176 | 58,275 | ||
Multi-Family Real Estate Loans | 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 | 54,875 | 66,219 | ||
Multi-Family Real Estate Loans | 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 | 105,088 | 69,805 | ||
Multi-Family Real Estate Loans | 3-4 Pass [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 4,858,956 | 5,240,429 | ||
Multi-Family Real Estate Loans | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 56,503 | 57,639 | ||
Multi-Family Real Estate Loans | 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 | 0 | 0 | ||
Multi-Family Real Estate Loans | 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 | 9,085 | 1,940,337 | ||
Multi-Family Real Estate Loans | 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 | 1,861,189 | 1,084,467 | ||
Multi-Family Real Estate Loans | 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 | 1,052,383 | 523,645 | ||
Multi-Family Real Estate Loans | 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 | 501,131 | 676,169 | ||
Multi-Family Real Estate Loans | 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 | 551,947 | 446,987 | ||
Multi-Family Real Estate Loans | 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 | 826,718 | 511,185 | ||
Multi-Family Real Estate Loans | 5 Special Mention [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 30,743 | 60,330 | ||
Multi-Family Real Estate Loans | 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 | ||
Multi-Family Real Estate Loans | 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 | ||
Multi-Family Real Estate Loans | 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 | 0 | ||
Multi-Family Real Estate Loans | 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 | 0 | 0 | ||
Multi-Family Real Estate Loans | 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 | 0 | 4,944 | ||
Multi-Family Real Estate Loans | 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 | 4,710 | 16,974 | ||
Multi-Family Real Estate Loans | 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 | 5,409 | 7,003 | ||
Multi-Family Real Estate Loans | 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 | 20,624 | 31,409 | ||
Multi-Family Real Estate Loans | 6-8 Classified [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 87,390 | 3,611 | ||
Multi-Family Real Estate Loans | 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 | ||
Multi-Family Real Estate Loans | 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 | ||
Multi-Family Real Estate Loans | 6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Multi-Family Real Estate Loans | 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 | 0 | 0 | ||
Multi-Family Real Estate Loans | 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 | 6,000 | 0 | ||
Multi-Family Real Estate Loans | 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 | 8,624 | 0 | ||
Multi-Family Real Estate Loans | 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 | 22,892 | 2,750 | ||
Multi-Family Real Estate Loans | 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 | 49,874 | 861 | ||
Other Residential Real Estate | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 5,373,178 | 6,275,628 | ||
Allowance for Loan and Lease Losses, Write-offs | 2,326 | 26,673 | ||
Other Residential Real Estate | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 44,475 | 47,155 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Other Residential Real Estate | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 238 | 299 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Other Residential Real Estate | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 211,513 | 2,852,053 | ||
Allowance for Loan and Lease Losses, Write-offs | 249 | 2,586 | ||
Other Residential Real Estate | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,015,939 | 3,258,997 | ||
Allowance for Loan and Lease Losses, Write-offs | 1,084 | 18,680 | ||
Other Residential Real Estate | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 3,003,809 | 93,829 | ||
Allowance for Loan and Lease Losses, Write-offs | 912 | 4,771 | ||
Other Residential Real Estate | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 75,944 | 0 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 632 | ||
Other Residential Real Estate | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 346 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Other Residential Real Estate | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 21,260 | 22,949 | ||
Allowance for Loan and Lease Losses, Write-offs | 81 | 4 | ||
Other Residential Real Estate | 1-2 High Pass [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,500 | 1,000 | ||
Other Residential Real Estate | 1-2 High Pass [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,500 | 1,000 | ||
Other Residential Real Estate | 1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Other Residential Real Estate | 1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Other Residential Real Estate | 1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Other Residential Real Estate | 1-2 High Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Other Residential Real Estate | 1-2 High Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Other Residential Real Estate | 1-2 High Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Other Residential Real Estate | 1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Other Residential Real Estate | 3-4 Pass [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 5,243,087 | 6,156,008 | ||
Other Residential Real Estate | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 42,975 | 46,155 | ||
Other Residential Real Estate | 3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 97 | 96 | ||
Other Residential Real Estate | 3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 206,352 | 2,805,533 | ||
Other Residential Real Estate | 3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,951,356 | 3,200,013 | ||
Other Residential Real Estate | 3-4 Pass [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,952,687 | 83,580 | ||
Other Residential Real Estate | 3-4 Pass [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 70,765 | 0 | ||
Other Residential Real Estate | 3-4 Pass [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 237 | ||
Other Residential Real Estate | 3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 18,855 | 20,394 | ||
Other Residential Real Estate | 5 Special Mention [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 56,042 | 58,063 | ||
Other Residential Real Estate | 5 Special Mention [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Other Residential Real Estate | 5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Other Residential Real Estate | 5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 6,803 | 27,272 | ||
Other Residential Real Estate | 5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 30,966 | 25,766 | ||
Other Residential Real Estate | 5 Special Mention [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 17,418 | 4,916 | ||
Other Residential Real Estate | 5 Special Mention [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 855 | 0 | ||
Other Residential Real Estate | 5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 109 | ||
Other Residential Real Estate | 5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Other Residential Real Estate | 6-8 Classified [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 72,549 | 60,557 | ||
Other Residential Real Estate | 6-8 Classified [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Other Residential Real Estate | 6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 141 | 203 | ||
Other Residential Real Estate | 6-8 Classified [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | (1,642) | 19,248 | ||
Other Residential Real Estate | 6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 33,617 | 33,218 | ||
Other Residential Real Estate | 6-8 Classified [Member] | Origination Date 2019 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 33,704 | 5,333 | ||
Other Residential Real Estate | 6-8 Classified [Member] | Origination Date 2018 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 4,324 | 0 | ||
Other Residential Real Estate | 6-8 Classified [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Other Residential Real Estate | 6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,405 | 2,555 | ||
Asset-based | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,357,098 | 5,140,209 | ||
Allowance for Loan and Lease Losses, Write-offs | 750 | 150 | ||
Asset-based | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 704,727 | 3,099,738 | ||
Allowance for Loan and Lease Losses, Write-offs | 750 | 0 | ||
Asset-based | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,459 | 70,173 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 150 | ||
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 | 91,831 | 772,815 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 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 | 576,679 | 397,541 | ||
Allowance for Loan and Lease Losses, 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 | 386,309 | 110,438 | ||
Allowance for Loan and Lease Losses, 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 | 83,146 | 281,283 | ||
Allowance for Loan and Lease Losses, 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 | 171,556 | 155,026 | ||
Allowance for Loan and Lease Losses, 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 | 340,391 | 253,195 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Asset-based | 1-2 High Pass [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,096,645 | 1,874,375 | ||
Asset-based | 1-2 High Pass [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 81,851 | 850,031 | ||
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 | 0 | 0 | ||
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 | 5,349 | 225,140 | ||
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 | 263,148 | 209,272 | ||
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 | 227,094 | 57,727 | ||
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 | 58,814 | 202,063 | ||
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 | 159,177 | 121,600 | ||
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 | 301,212 | 208,542 | ||
Asset-based | 3-4 Pass [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,243,435 | 3,208,133 | ||
Asset-based | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 609,684 | 2,239,785 | ||
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 | 2,434 | 69,742 | ||
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 | 86,482 | 547,675 | ||
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 | 313,380 | 188,269 | ||
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 | 159,215 | 52,711 | ||
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 | 24,332 | 35,811 | ||
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 | 12,379 | 33,426 | ||
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 | 35,529 | 40,714 | ||
Asset-based | 5 Special Mention [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 13,368 | 56,836 | ||
Asset-based | 5 Special Mention [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 9,927 | 9,922 | ||
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 | 25 | 0 | ||
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 | 151 | 0 | ||
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 | 0 | 0 | ||
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 | 0 | 43,409 | ||
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 | 0 | ||
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 | 3,265 | 3,505 | ||
Asset-based | 6-8 Classified [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 3,650 | 865 | ||
Asset-based | 6-8 Classified [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 3,265 | 0 | ||
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 | 0 | 431 | ||
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 | 0 | ||
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 | 385 | 434 | ||
Venture Capital Loans | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,723,476 | 2,033,302 | ||
Venture Capital Loans | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,723,476 | 2,033,302 | ||
Allowance for Loan and Lease Losses, Write-offs | 940 | 0 | ||
Venture Capital Loans | Revolving Credit Facility [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,229,762 | 1,621,971 | ||
Allowance for Loan and Lease Losses, Write-offs | 940 | 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 | 72,849 | 71,068 | ||
Allowance for Loan and Lease Losses, 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 | 41,810 | 105,945 | ||
Allowance for Loan and Lease Losses, 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 | 147,892 | 179,973 | ||
Allowance for Loan and Lease Losses, 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 | 182,091 | 24,558 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 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 | 23,787 | 26,907 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
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 | 23,699 | 1,967 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
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 | 1,586 | 913 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Venture Capital Loans | 1-2 High Pass [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 167,075 | 219,135 | ||
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 | 165,678 | 216,535 | ||
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 | (420) | 503 | ||
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 | (171) | (40) | ||
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 | (10) | 0 | ||
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 | 2,000 | ||
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 | 2,000 | 0 | ||
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 | 0 | (134) | ||
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 | (2) | 3 | ||
Venture Capital Loans | 3-4 Pass [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,431,305 | 1,683,507 | ||
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 | 1,025,441 | 1,365,101 | ||
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 | 73,269 | 65,572 | ||
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 | 41,981 | 92,015 | ||
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 | 127,431 | 136,296 | ||
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 | 130,587 | 18,075 | ||
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 | 7,309 | 3,705 | ||
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 | 23,699 | 1,833 | ||
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 | 1,588 | 910 | ||
Venture Capital Loans | 5 Special Mention [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 122,482 | 127,907 | ||
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 | 38,643 | (40,335) | ||
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 | 4,993 | ||
Venture Capital Loans | 5 Special Mention [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 13,970 | ||
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 | 20,471 | 40,924 | ||
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 | 48,890 | 4,483 | ||
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 | 14,478 | 23,202 | ||
Venture Capital Loans | 5 Special Mention [Member] | Origination Date 2017 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Venture Capital Loans | 5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 0 | ||
Venture Capital Loans | 6-8 Classified [Member] | Venture Capital Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 2,614 | 2,753 | ||
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 | 0 | 0 | ||
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 | 0 | 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 | 2,753 | ||
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 | 2,614 | 0 | ||
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 | 0 | 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 | 0 | ||
Other Commercial | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,014,212 | 1,108,451 | ||
Allowance for Loan and Lease Losses, Write-offs | 5,127 | 7,334 | ||
Other Commercial | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 432,246 | 477,043 | ||
Allowance for Loan and Lease Losses, Write-offs | 1,906 | 304 | ||
Other Commercial | Revolving Converted To Term Loan [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 4,499 | 4,871 | ||
Allowance for Loan and Lease Losses, Write-offs | 474 | 331 | ||
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 | 5,027 | 95,559 | ||
Allowance for Loan and Lease Losses, 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 | 78,304 | 290,690 | ||
Allowance for Loan and Lease Losses, Write-offs | 209 | 6,699 | ||
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 | 279,948 | 54,738 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
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 | 49,892 | 43,083 | ||
Allowance for Loan and Lease Losses, Write-offs | 1 | 0 | ||
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 | 37,129 | 49,297 | ||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Other Commercial | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 127,167 | 93,170 | ||
Allowance for Loan and Lease Losses, Write-offs | $ 2,537 | 0 | ||
Other Commercial | 1-2 High Pass [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 31,039 | 35,619 | ||
Other Commercial | 1-2 High Pass [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 20,990 | 20,958 | ||
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 | 0 | 0 | ||
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 | 643 | 3,591 | ||
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 | 2,221 | 10,880 | ||
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 | 7,216 | 12 | ||
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 | (45) | 161 | ||
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 | 53 | 3 | ||
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 | (39) | (14) | ||
Other Commercial | 3-4 Pass [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 965,240 | 1,053,126 | ||
Other Commercial | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 403,272 | 454,438 | ||
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 | 3,039 | 3,684 | ||
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 | 2,635 | 84,930 | ||
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 | 76,083 | 278,208 | ||
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 | 272,118 | 54,542 | ||
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 | 49,240 | 41,908 | ||
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 | 36,181 | 47,771 | ||
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 | 122,672 | 87,645 | ||
Other Commercial | 5 Special Mention [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 12,417 | 13,233 | ||
Other Commercial | 5 Special Mention [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 6,434 | 47 | ||
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 | 79 | 89 | ||
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 | 1,749 | 7,038 | ||
Other Commercial | 5 Special Mention [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 0 | 796 | ||
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 | 614 | 184 | ||
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 | 697 | 695 | ||
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 | 586 | 1,526 | ||
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 | 2,258 | 2,858 | ||
Other Commercial | 6-8 Classified [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 5,516 | 6,473 | ||
Other Commercial | 6-8 Classified [Member] | Revolving Credit Facility [Member] | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Loans held for investment, net | 1,550 | 1,600 | ||
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 | 1,381 | 1,098 | ||
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 | 0 | 0 | ||
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 | 806 | ||
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 | 0 | 0 | ||
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 | 0 | (319) | ||
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 | (309) | (3) | ||
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 | $ 2,276 | $ 2,653 |
Loans and Leases - Loan Modific
Loans and Leases - Loan Modification or Refinancing (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2023 | Jun. 30, 2023 | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 21,958 | |
Extended Maturity | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 9,939 | 21,299 |
Combination Term Extension and Payment Delay | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | 612 | |
Combination Term Extension and Interest Rate Reduction | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | 3 | |
Payment Delay | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | 44 | |
Real Estate Mortgage | Other Residential Real Estate | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 18,522 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0.30% | |
Real Estate Mortgage | Other Residential Real Estate | Extended Maturity | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 8,993 | $ 18,522 |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0.20% | 0.30% |
Real Estate Mortgage | Other Residential Real Estate | Combination Term Extension and Payment Delay | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 0 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Real Estate Mortgage | Other Residential Real Estate | Combination Term Extension and Interest Rate Reduction | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 0 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Real Estate Mortgage | Other Residential Real Estate | Payment Delay | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 0 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Commercial | Venture Capital Loans | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 612 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Commercial | Other Commercial | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 2,806 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0.30% | |
Commercial | Extended Maturity | Venture Capital Loans | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 0 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Commercial | Extended Maturity | Other Commercial | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 931 | $ 2,762 |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0.10% | 0.30% |
Commercial | Combination Term Extension and Payment Delay | Venture Capital Loans | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 612 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Commercial | Combination Term Extension and Payment Delay | Other Commercial | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 0 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Commercial | Combination Term Extension and Interest Rate Reduction | Venture Capital Loans | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 0 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Commercial | Combination Term Extension and Interest Rate Reduction | Other Commercial | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 0 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Commercial | Payment Delay | Venture Capital Loans | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 0 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Commercial | Payment Delay | Other Commercial | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 44 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Consumer | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 18 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Consumer | Extended Maturity | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 15 | $ 15 |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | 0% |
Consumer | Combination Term Extension and Payment Delay | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 0 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Consumer | Combination Term Extension and Interest Rate Reduction | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 3 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Consumer | Payment Delay | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 0 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% |
Loans and Leases - Payment Stat
Loans and Leases - Payment Status of Loan Modifications (Details) $ in Thousands | Jun. 30, 2023 USD ($) |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | $ 21,958 |
Current | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 17,820 |
30 TO 89 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 3,859 |
90 Or More Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 279 |
Commercial | Venture Capital Loans | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 612 |
Commercial | Venture Capital Loans | Current | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 612 |
Commercial | Venture Capital Loans | 30 TO 89 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 0 |
Commercial | Venture Capital Loans | 90 Or More Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 0 |
Commercial | Other Commercial | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 2,806 |
Commercial | Other Commercial | Current | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 2,806 |
Commercial | Other Commercial | 30 TO 89 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 0 |
Commercial | Other Commercial | 90 Or More Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 0 |
Consumer | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 18 |
Consumer | Current | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 18 |
Consumer | 30 TO 89 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 0 |
Consumer | 90 Or More Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 0 |
Other Residential Real Estate | Real Estate Mortgage | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 18,522 |
Other Residential Real Estate | Real Estate Mortgage | Current | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 14,384 |
Other Residential Real Estate | Real Estate Mortgage | 30 TO 89 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 3,859 |
Other Residential Real Estate | Real Estate Mortgage | 90 Or More Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | $ 279 |
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 | 6 Months Ended |
Jun. 30, 2022 USD ($) contract | Jun. 30, 2022 USD ($) contract | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of loans | contract | 12 | 26 |
Pre-Modification Outstanding Recorded Investment | $ 3,613 | $ 4,991 |
Post-Modification Outstanding Recorded Investment | $ 3,613 | $ 4,686 |
Other Commercial | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of Loans | contract | 2 | 2 |
Real Estate Mortgage | Commercial | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of loans | contract | 0 | 0 |
Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Post-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Real Estate Mortgage | Other Residential Real Estate | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of loans | contract | 1 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 208 | $ 512 |
Post-Modification Outstanding Recorded Investment | $ 208 | $ 207 |
Commercial | Venture Capital Loans | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of loans | contract | 4 | 4 |
Pre-Modification Outstanding Recorded Investment | $ 3,330 | $ 3,330 |
Post-Modification Outstanding Recorded Investment | $ 3,330 | $ 3,330 |
Commercial | Other Commercial | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of loans | contract | 6 | 19 |
Pre-Modification Outstanding Recorded Investment | $ 57 | $ 1,131 |
Post-Modification Outstanding Recorded Investment | $ 57 | $ 1,131 |
Consumer | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number of loans | contract | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 18 | $ 18 |
Post-Modification Outstanding Recorded Investment | $ 18 | $ 18 |
Loans and Leases - Leases Recei
Loans and Leases - Leases Receivable Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Receivables [Abstract] | ||||
Direct Financing Lease, Interest Income | $ 4,118 | $ 2,491 | $ 7,867 | $ 4,879 |
Loans and Leases - Components o
Loans and Leases - Components of Leases Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Direct Financing Lease, Net Investment in Leases [Abstract] | ||
Lease payments receivable | $ 266,039 | $ 232,909 |
Unguaranteed residual assets | 29,491 | 23,561 |
Deferred costs and other | 3,018 | 1,815 |
Aggregate net investment in leases | $ 298,548 | $ 258,285 |
Loans and Leases - Maturities o
Loans and Leases - Maturities of Leases Receivable (Details) $ in Thousands | Jun. 30, 2023 USD ($) |
Sales-type and Direct Financing Leases, Lease Receivable, Rolling Maturity [Abstract] | |
2022 | $ 37,683 |
2023 | 82,239 |
2024 | 63,987 |
2025 | 45,406 |
2026 | 32,274 |
Thereafter | 39,664 |
Total undiscounted cash flows | 301,253 |
Less: Unearned income | (35,214) |
Present value of lease payments | $ 266,039 |
Loans and Leases - Allowance fo
Loans and Leases - Allowance for Loan and Lease Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, beginning of period | $ 210,055 | $ 197,398 | $ 200,732 | $ 200,564 | |
Charge-offs | (31,708) | (2,799) | (42,105) | (6,033) | |
Recoveries | 887 | 4,106 | 2,107 | 6,174 | |
Net (charge-offs) recoveries | (30,821) | 1,307 | (39,998) | 141 | |
Provision for credit losses | 40,000 | 10,000 | 58,500 | 12,000 | |
Balance, end of period | 219,234 | 188,705 | 219,234 | 188,705 | |
Amount of the allowance applicable to loans and leases: | |||||
Individually evaluated | 0 | 952 | 0 | 952 | |
Collectively evaluated | 219,234 | 187,753 | 219,234 | 187,753 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||||
Individually evaluated | 105,094 | 78,718 | 105,094 | 78,718 | |
Collectively evaluated | 22,153,116 | 26,422,419 | 22,153,116 | 26,422,419 | |
Loans held for investment, net | 22,258,210 | 26,501,137 | 22,258,210 | 26,501,137 | $ 28,609,129 |
Real Estate Mortgage | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, beginning of period | 109,483 | 87,228 | 87,309 | 98,624 | |
Charge-offs | (23,875) | (1,545) | (33,710) | (1,713) | |
Recoveries | 62 | 1,305 | 262 | 1,468 | |
Net (charge-offs) recoveries | (23,813) | (240) | (33,448) | (245) | |
Provision for credit losses | (47,138) | 1,092 | (78,947) | 12,483 | |
Balance, end of period | 132,808 | 85,896 | 132,808 | 85,896 | |
Amount of the allowance applicable to loans and leases: | |||||
Individually evaluated | 0 | 140 | 0 | 140 | |
Collectively evaluated | 132,808 | 85,756 | 132,808 | 85,756 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||||
Individually evaluated | 101,968 | 60,657 | 101,968 | 60,657 | |
Collectively evaluated | 14,186,074 | 13,993,428 | 14,186,074 | 13,993,428 | |
Loans held for investment, net | 14,288,042 | 14,054,085 | 14,288,042 | 14,054,085 | 15,730,324 |
Real Estate Construction and Land | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, beginning of period | 55,034 | 43,648 | 52,320 | 44,508 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 149 | |
Net (charge-offs) recoveries | 0 | 0 | 0 | 149 | |
Provision for credit losses | 15,355 | 2,479 | 12,641 | 3,488 | |
Balance, end of period | 39,679 | 41,169 | 39,679 | 41,169 | |
Amount of the allowance applicable to loans and leases: | |||||
Individually evaluated | 0 | 0 | 0 | 0 | |
Collectively evaluated | 39,679 | 41,169 | 39,679 | 41,169 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||||
Individually evaluated | 0 | 6,642 | 0 | 6,642 | |
Collectively evaluated | 2,465,523 | 3,479,958 | 2,465,523 | 3,479,958 | |
Loans held for investment, net | 2,465,523 | 3,486,600 | 2,465,523 | 3,486,600 | 4,152,172 |
Commercial | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, beginning of period | 37,195 | 57,056 | 52,849 | 48,718 | |
Charge-offs | (7,347) | (911) | (7,484) | (3,744) | |
Recoveries | 742 | 2,790 | 1,717 | 4,525 | |
Net (charge-offs) recoveries | (6,605) | 1,879 | (5,767) | 781 | |
Provision for credit losses | (6,631) | 4,904 | (9,861) | (4,532) | |
Balance, end of period | 37,221 | 54,031 | 37,221 | 54,031 | |
Amount of the allowance applicable to loans and leases: | |||||
Individually evaluated | 0 | 812 | 0 | 812 | |
Collectively evaluated | 37,221 | 53,219 | 37,221 | 53,219 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||||
Individually evaluated | 3,126 | 11,419 | 3,126 | 11,419 | |
Collectively evaluated | 5,091,660 | 8,465,387 | 5,091,660 | 8,465,387 | |
Loans held for investment, net | 5,094,786 | 8,476,806 | 5,094,786 | 8,476,806 | 8,281,962 |
Consumer | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Balance, beginning of period | 8,343 | 9,466 | 8,254 | 8,714 | |
Charge-offs | (486) | (343) | (911) | (576) | |
Recoveries | 83 | 11 | 128 | 32 | |
Net (charge-offs) recoveries | (403) | (332) | (783) | (544) | |
Provision for credit losses | (1,586) | (1,525) | (2,055) | (561) | |
Balance, end of period | 9,526 | 7,609 | 9,526 | 7,609 | |
Amount of the allowance applicable to loans and leases: | |||||
Individually evaluated | 0 | 0 | 0 | 0 | |
Collectively evaluated | 9,526 | 7,609 | 9,526 | 7,609 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||||
Individually evaluated | 0 | 0 | 0 | 0 | |
Collectively evaluated | 409,859 | 483,646 | 409,859 | 483,646 | |
Loans held for investment, net | $ 409,859 | $ 483,646 | $ 409,859 | $ 483,646 | $ 444,671 |
Loans and Leases - Collateral D
Loans and Leases - Collateral Dependent Loans Held for Investment (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | $ 103,588 | $ 92,321 |
Real Estate Mortgage | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 103,203 | 90,485 |
Real Estate Construction and Land | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 0 | 1,402 |
Consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 385 | 434 |
Real Estate Properties [Domain] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 103,203 | 91,887 |
Real Estate Properties [Domain] | Real Estate Mortgage | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 103,203 | 90,485 |
Real Estate Properties [Domain] | Real Estate Construction and Land | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 0 | 1,402 |
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 | 385 | 434 |
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 | $ 385 | $ 434 |
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 | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Receivables [Abstract] | ||||
Balance, beginning of period | $ 210,055 | $ 197,398 | $ 200,732 | $ 200,564 |
Reserve for Unfunded Loan Commitments, Balance, beginning of period | 75,571 | 75,071 | 91,071 | 73,071 |
Allowance for Credit Losses, Balance, beginning of period | 285,626 | 272,469 | 291,803 | 273,635 |
Allowance for Loan and Lease Losses, Charge-offs | (31,708) | (2,799) | (42,105) | (6,033) |
Reserve for Unfunded Loan Commitments, Charge-offs | 0 | 0 | 0 | 0 |
Allowance for Credit Losses, Charge-offs | (31,708) | (2,799) | (42,105) | (6,033) |
Allowance for Loan and Lease Loss, Recoveries | 887 | 4,106 | 2,107 | 6,174 |
Reserve for Unfunded Loan Commitments, Recoveries | 0 | 0 | 0 | 0 |
Allowance for Credit Losses, Recoveries | 887 | 4,106 | 2,107 | 6,174 |
Net (charge-offs) recoveries | (30,821) | 1,307 | (39,998) | 141 |
Reserve for Unfunded Loan Commitments, Net charge-offs | 0 | 0 | 0 | 0 |
Allowance For Credit Losses, Net charge-offs | (30,821) | 1,307 | (39,998) | 141 |
Provision for Loan, Leases and Unfunded Loan Commitments | 2,000 | 10,000 | 5,000 | 10,000 |
Provision for credit losses | 40,000 | 10,000 | 58,500 | 12,000 |
Reserve for Unfunded Commitments, Provision (negative provision) | (38,000) | 20,000 | 53,500 | (22,000) |
Balance, end of period | 219,234 | 188,705 | 219,234 | 188,705 |
Reserve for Unfunded Loan Commitments, Balance, end of period | 37,571 | 95,071 | 37,571 | 95,071 |
Allowance for Credit Losses, Balance, end of period | $ 256,805 | $ 283,776 | $ 256,805 | $ 283,776 |
Loans and Leases - Narrative (D
Loans and Leases - Narrative (Details) | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) contract | Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) contract | Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Nonaccrual loans and leases | $ 104,886,000 | $ 78,527,000 | $ 104,886,000 | $ 78,527,000 | $ 103,778,000 | |||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | 9,200,000 | |||||||
Provision for credit losses | 40,000,000 | 10,000,000 | 58,500,000 | 12,000,000 | ||||
Gross loans and leases held for investment | 22,311,292,000 | 22,311,292,000 | 28,726,016,000 | |||||
Loans and Leases Receivable, Allowance | 219,234,000 | 188,705,000 | 219,234,000 | 188,705,000 | $ 210,055,000 | 200,732,000 | $ 197,398,000 | $ 200,564,000 |
Loans held for investment, net | 22,258,210,000 | $ 26,501,137,000 | 22,258,210,000 | $ 26,501,137,000 | 28,609,129,000 | |||
Number of loans | contract | 12 | 26 | ||||||
Pre-Modification Outstanding Recorded Investment | $ 3,613,000 | $ 4,991,000 | ||||||
Real Estate Mortgage | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Nonaccrual loans and leases | 100,817,000 | 62,996,000 | 100,817,000 | 62,996,000 | 98,402,000 | |||
Provision for credit losses | (47,138,000) | 1,092,000 | (78,947,000) | 12,483,000 | ||||
Gross loans and leases held for investment | 14,312,273,000 | 14,312,273,000 | 15,762,351,000 | |||||
Loans and Leases Receivable, Allowance | 132,808,000 | 85,896,000 | 132,808,000 | 85,896,000 | 109,483,000 | 87,309,000 | 87,228,000 | 98,624,000 |
Loans held for investment, net | 14,288,042,000 | $ 14,054,085,000 | 14,288,042,000 | $ 14,054,085,000 | 15,730,324,000 | |||
Real Estate Mortgage | Other Residential Real Estate | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Nonaccrual loans and leases | 63,626,000 | 63,626,000 | 55,893,000 | |||||
Loans held for investment, net | 5,373,178,000 | 5,373,178,000 | 6,275,628,000 | |||||
Number of loans | contract | 1 | 2 | ||||||
Pre-Modification Outstanding Recorded Investment | $ 208,000 | $ 512,000 | ||||||
Real Estate Mortgage | Other Residential Real Estate | Current | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Number of Loans | 1 | 1 | ||||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 104,000 | $ 104,000 | ||||||
Financing Receivable, Excluding Accrued Interest, Modified, Increase (Decrease) from Modification | 4,100,000 | 4,100,000 | ||||||
Commercial | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Nonaccrual loans and leases | 3,864,000 | 8,964,000 | 3,864,000 | 8,964,000 | 5,210,000 | |||
Provision for credit losses | (6,631,000) | 4,904,000 | (9,861,000) | (4,532,000) | ||||
Gross loans and leases held for investment | 5,097,714,000 | 5,097,714,000 | 8,297,182,000 | |||||
Loans and Leases Receivable, Allowance | 37,221,000 | 54,031,000 | 37,221,000 | 54,031,000 | $ 37,195,000 | 52,849,000 | $ 57,056,000 | $ 48,718,000 |
Loans held for investment, net | 5,094,786,000 | $ 8,476,806,000 | 5,094,786,000 | $ 8,476,806,000 | 8,281,962,000 | |||
Credit Concentration Risk | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Nonaccrual loans and leases | 24,900,000 | $ 24,900,000 | ||||||
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 | 24% | |||||||
Nonaccrual | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Receivable, 90 or more days past due | 62,300,000 | $ 62,300,000 | 70,900,000 | |||||
Receivable, 30-89 days past due | 7,600,000 | 7,600,000 | 6,800,000 | |||||
Financing receivable, nonaccrual status, current | 35,000,000 | 35,000,000 | 26,000,000 | |||||
Other Commercial | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Number of Loans | contract | 2 | 2 | ||||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 110,000 | $ 110,000 | ||||||
Other Commercial | Commercial | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Nonaccrual loans and leases | 3,479,000 | 3,479,000 | 4,345,000 | |||||
Loans held for investment, net | 1,014,212,000 | 1,014,212,000 | 1,108,451,000 | |||||
Number of loans | contract | 6 | 19 | ||||||
Pre-Modification Outstanding Recorded Investment | $ 57,000 | $ 1,131,000 | ||||||
Venture Capital Loans | Commercial | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Nonaccrual loans and leases | 0 | 0 | 0 | |||||
Loans held for investment, net | 1,723,476,000 | 1,723,476,000 | 2,033,302,000 | |||||
Number of loans | contract | 4 | 4 | ||||||
Pre-Modification Outstanding Recorded Investment | $ 3,330,000 | $ 3,330,000 | ||||||
Asset-based | Commercial | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Nonaccrual loans and leases | 385,000 | 385,000 | 865,000 | |||||
Loans held for investment, net | $ 2,357,098,000 | $ 2,357,098,000 | $ 5,140,209,000 |
Foreclosed Assets - Summary of
Foreclosed Assets - Summary of Foreclosed Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Other Real Estate Owned Net | $ 8,426 | $ 5,022 |
Other foreclosed assets | 0 | 0 |
Foreclosed assets, net | 8,426 | 5,022 |
Single Family | ||
Other Real Estate Owned Net | $ 8,426 | $ 5,022 |
Foreclosed Assets - Changes in
Foreclosed Assets - Changes in Foreclosed Assets (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Other Real Estate Owned Net Covered and NonCovered Including Foreclosed Assets [Abstract] | ||
Balance, beginning of period | $ 5,022 | |
Loans transferred to foreclosed assets | 9,225 | $ 304 |
Reductions related to sales | (5,136) | |
Balance, end of period | 8,426 | |
Provision for Other Real Estate Owned and Foreclosed Assets | $ (685) |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets Textual (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Goodwill | $ 0 | $ 1,376,736 |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets Goodwill Rollforward (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||||
Goodwill | $ 0 | $ 0 | $ 1,376,736 | ||
Goodwill impairment | $ 0 | $ 0 | $ (1,376,736) | $ 0 |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets - Rollforward of CDI and CRI (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Finite-lived Intangible Assets [Roll Forward] | ||||
CDI and CRI Balance, beginning of period | $ 90,800 | $ 133,850 | $ 91,550 | $ 133,850 |
CDI and CRI Balance, end of period | 90,800 | 133,850 | 90,800 | 133,850 |
Accumulated Amortization, beginning of period | (61,830) | (92,542) | (60,169) | (88,893) |
Amortization expense | (2,389) | (3,649) | (4,800) | (7,298) |
Accumulated Amortization, end of period | (64,219) | (96,191) | (64,219) | (96,191) |
Net CDI and CRI, end of period | 26,581 | 37,659 | 26,581 | 37,659 |
Finite Lived Intangible Assets Fully Amortized Portion | $ 0 | $ 0 | $ 750 | $ 0 |
Goodwill and Other Intangible_6
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Finite-Lived Intangible Assets [Line Items] | ||
Aggregate amortization expense 2023 | $ 4,285 | |
Aggregate amortization expense 2024 | 6,404 | |
Aggregate amortization expense 2025 | 4,087 | |
Aggregate amortization expense 2026 | 3,481 | |
Aggregate amortization expense 2027 | 2,876 | |
Aggregate amortization expense, thereafter | 5,448 | |
Finite-Lived Intangible Assets, Net | $ 26,581 | $ 37,659 |
Other Assets (Details)
Other Assets (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2023 | Dec. 31, 2022 | ||
Other Assets [Abstract] | |||
Cash surrender value of BOLI | $ 206,812 | $ 207,797 | |
LIHTC investments | 320,154 | 328,555 | |
Operating lease ROU assets, net (1) | [1] | 119,527 | 126,255 |
Interest receivable | 137,863 | 157,109 | |
Taxes receivable | 90,495 | 89,924 | |
Equity investments without readily determinable fair values | 64,944 | 63,280 | |
SBIC Investments | 72,351 | 62,227 | |
Prepaid expenses | 52,342 | 26,752 | |
Equity warrants | [2] | 3,883 | 4,048 |
Equity investments with readily determinable fair values | 1 | 1 | |
Other receivables/assets | 151,227 | 148,834 | |
Other assets | $ 1,219,599 | $ 1,214,782 | |
Vesting period of time-based restricted stock, lower limit | 3 years | ||
[1]See Note 8. Leases for further details regarding the operating lease ROU assets. Derivatives for information regarding equity warrants. |
Leases Leases - Lease Expense (
Leases Leases - Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Lease, Cost [Abstract] | ||||
Operating Lease, Cost | $ 8,421 | $ 9,042 | $ 16,169 | $ 17,521 |
Variable Lease, Cost | 30 | 36 | 65 | 59 |
Short-term Lease, Cost | 265 | 379 | 622 | 743 |
Sublease Income | (533) | (1,077) | (1,245) | (2,153) |
Lease, Cost, Total | $ 8,183 | $ 8,380 | 15,611 | 16,170 |
Cash paid for amounts included in the measurement of lease liabilities: | ||||
Operating cash flows from operating leases | 18,247 | 17,574 | ||
ROU assets obtained in exchange for lease obligations: | ||||
Operating leases | $ 9,706 | $ 23,804 |
Leases - Supplemental Cash Flow
Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Leases [Abstract] | ||
Operating cash flows from operating leases | $ 18,247 | $ 17,574 |
Operating leases | $ 9,706 | $ 23,804 |
Leases - Supplemental Balance S
Leases - Supplemental Balance Sheet and Other Information (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Leases [Abstract] | ||
Finance Lease, Right-of-Use Asset | $ 119,527 | $ 126,255 |
Operating leases: | ||
Operating Lease, Liability | $ 140,234 | $ 148,401 |
Weighted average remaining lease term (in years) | 6 years 6 months | 6 years 7 months 6 days |
Weighted average discount rate | 2.67% | 2.64% |
Leases - Maturities of Operatin
Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Lessee, Operating Lease, Liability, Payment, Due [Abstract] | ||
2023 | $ 15,258 | |
2024 | 30,108 | |
2025 | 26,515 | |
2026 | 21,534 | |
2027 | 15,376 | |
Thereafter | 47,451 | |
Total operating lease liabilities | 156,242 | |
Less: Imputed interest | (16,008) | |
Present value of operating lease liabilities | $ 140,234 | $ 148,401 |
Leases Leases - Schedule of Pay
Leases Leases - Schedule of Payments to be Received on Operating Leases (Details) $ in Thousands | Jun. 30, 2023 USD ($) |
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract] | |
2023 | $ 23,089 |
2024 | 49,487 |
2025 | 39,952 |
2026 | 33,848 |
2027 | 25,786 |
Thereafter | 79,739 |
Total undiscounted cash flows | $ 251,901 |
Leases - Narrative (Details)
Leases - Narrative (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Leases [Abstract] | ||
Operating Lease, Impairment Loss | $ 0 | $ 0 |
Borrowings and Subordinated D_3
Borrowings and Subordinated Debentures - Summary of Borrowings and Debentures (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Debt Instrument [Line Items] | ||
Borrowings (including $123,065 at fair value) | $ 6,357,338 | $ 1,764,030 |
Rate | 5.46% | 5.36% |
Assets Sold under Agreements to Repurchase, Interest Rate | 8.50% | 0% |
Assets Sold under Agreements to Repurchase, Carrying Amount | $ 1,324,273 | $ 0 |
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | (14,300) | |
Business Exit Costs | 2,700 | |
AFX short-term borrowings | ||
Debt Instrument [Line Items] | ||
Line of Credit, Current | 250,000 | |
Balance | $ 0 | $ 250,000 |
Rate | 0% | 4.68% |
Credit-Link Notes | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 15.77% | 14.56% |
Other Borrowings | $ 123,065 | $ 132,030 |
Federal Home Loan Bank of San Francisco | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit, Current | $ 0 | $ 1,270,000 |
Rate | 0% | 4.62% |
Federal Home Loan Bank of San Francisco | Secured Debt [Member] | Bank Term Funding Program | ||
Debt Instrument [Line Items] | ||
Line of Credit, Current | $ 4,910,000 | $ 0 |
Rate | 4.38% | 0% |
Federal Home Loan Bank of San Francisco | FHLB unsecured overnight advance | ||
Debt Instrument [Line Items] | ||
Line of Credit, Current | $ 0 | $ 112,000 |
Rate | 0% | 4.37% |
Borrowings and Subordinated D_4
Borrowings and Subordinated Debentures - Subordinated Debentures (Details) $ in Thousands, € in Millions | 6 Months Ended | ||||||
Jun. 30, 2023 USD ($) | Jun. 30, 2023 EUR (€) | Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | ||||
Subordinated Borrowing [Line Items] | |||||||
Subordinated Debentures, Gross | $ 935,297 | $ 934,514 | |||||
Subordinated debt | $ 870,378 | $ 867,087 | |||||
Rate | 5.46% | 5.46% | 5.36% | ||||
Debt Issuance Costs, Gross | $ (4,600) | $ (17,900) | |||||
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) | 2.52% | ||||||
Euribor Rate | Trust Preferred Securities Two Thousand Six Series Three | |||||||
Subordinated Borrowing [Line Items] | |||||||
Rate Index (Quarterly Reset) | 2.05% | ||||||
LIBOR | Subordinated Debt Trust V Due September 2033 | |||||||
Subordinated Borrowing [Line Items] | |||||||
Rate Index (Quarterly Reset) | 3.10% | ||||||
LIBOR | Subordinated Debt Trust VI Due September 2033 | |||||||
Subordinated Borrowing [Line Items] | |||||||
Rate Index (Quarterly Reset) | 3.05% | ||||||
LIBOR | Subordinated Debt Trust CII Due September 2033 | |||||||
Subordinated Borrowing [Line Items] | |||||||
Rate Index (Quarterly Reset) | 2.95% | ||||||
LIBOR | Subordinated Debt Trust VII Due April 2034 | |||||||
Subordinated Borrowing [Line Items] | |||||||
Rate Index (Quarterly Reset) | 2.75% | ||||||
LIBOR | Subordinated Debt Trust CIII Due September 2035 | |||||||
Subordinated Borrowing [Line Items] | |||||||
Rate Index (Quarterly Reset) | 1.69% | ||||||
LIBOR | Subordinated Debt Trust FCCI Due March 2037 | |||||||
Subordinated Borrowing [Line Items] | |||||||
Rate Index (Quarterly Reset) | 1.60% | ||||||
LIBOR | Subordinated Debt Trust FCBI Due December 2035 | |||||||
Subordinated Borrowing [Line Items] | |||||||
Rate Index (Quarterly Reset) | 1.55% | ||||||
LIBOR | Trust Preferred Securities Two Thousand Five Series One | |||||||
Subordinated Borrowing [Line Items] | |||||||
Rate Index (Quarterly Reset) | 1.95% | ||||||
LIBOR | Trust Preferred Securities Two Thousand Five Series Two | |||||||
Subordinated Borrowing [Line Items] | |||||||
Rate Index (Quarterly Reset) | 1.95% | ||||||
LIBOR | Two Thousand Six One Term Debt Securitization | |||||||
Subordinated Borrowing [Line Items] | |||||||
Rate Index (Quarterly Reset) | 1.95% | ||||||
LIBOR | Two Thousand Six Two Term Debt Securitization | |||||||
Subordinated Borrowing [Line Items] | |||||||
Rate Index (Quarterly Reset) | 1.95% | ||||||
LIBOR | Trust Preferred Securities Two Thousand Six Series Four | |||||||
Subordinated Borrowing [Line Items] | |||||||
Rate Index (Quarterly Reset) | 1.95% | ||||||
LIBOR | Trust Preferred Securities Two Thousand Six Series Five | |||||||
Subordinated Borrowing [Line Items] | |||||||
Rate Index (Quarterly Reset) | 1.95% | ||||||
LIBOR | Two Thousand Seven One Term Debt Securitization | |||||||
Subordinated Borrowing [Line Items] | |||||||
Rate Index (Quarterly Reset) | 1.95% | ||||||
Subordinated Debentures | |||||||
Subordinated Borrowing [Line Items] | |||||||
Unamortized discount | [1] | $ (64,919) | $ (67,427) | ||||
Rate | 5.60% | [2] | 5.60% | [2] | 5.08% | ||
Subordinated Debentures | Subordinated Debt Trust V Due September 2033 | |||||||
Subordinated Borrowing [Line Items] | |||||||
Balance | $ 10,310 | $ 10,310 | |||||
Rate | 8.61% | [2] | 8.61% | [2] | 7.84% | ||
Subordinated Debentures | Subordinated Debt Trust VI Due September 2033 | |||||||
Subordinated Borrowing [Line Items] | |||||||
Balance | $ 10,310 | $ 10,310 | |||||
Rate | 8.60% | [2] | 8.60% | [2] | 7.82% | ||
Subordinated Debentures | Subordinated Debt Trust CII Due September 2033 | |||||||
Subordinated Borrowing [Line Items] | |||||||
Balance | $ 5,155 | $ 5,155 | |||||
Rate | 8.46% | [2] | 8.46% | [2] | 7.69% | ||
Subordinated Debentures | Subordinated Debt Trust VII Due April 2034 | |||||||
Subordinated Borrowing [Line Items] | |||||||
Balance | $ 61,856 | $ 61,856 | |||||
Rate | 8.05% | [2] | 8.05% | [2] | 7.16% | ||
Subordinated Debentures | Subordinated Debt Trust CIII Due September 2035 | |||||||
Subordinated Borrowing [Line Items] | |||||||
Balance | $ 20,619 | $ 20,619 | |||||
Rate | 7.24% | [2] | 7.24% | [2] | 6.46% | ||
Subordinated Debentures | Subordinated Debt Trust FCCI Due March 2037 | |||||||
Subordinated Borrowing [Line Items] | |||||||
Balance | $ 16,495 | $ 16,495 | |||||
Rate | 7.15% | [2] | 7.15% | [2] | 6.37% | ||
Subordinated Debentures | Subordinated Debt Trust FCBI Due December 2035 | |||||||
Subordinated Borrowing [Line Items] | |||||||
Balance | $ 10,310 | $ 10,310 | |||||
Rate | 7.10% | [2] | 7.10% | [2] | 6.32% | ||
Subordinated Debentures | Trust Preferred Securities Two Thousand Five Series One | |||||||
Subordinated Borrowing [Line Items] | |||||||
Balance | $ 82,475 | $ 82,475 | |||||
Rate | 7.50% | [2] | 7.50% | [2] | 6.72% | ||
Subordinated Debentures | Trust Preferred Securities Two Thousand Five Series Two | |||||||
Subordinated Borrowing [Line Items] | |||||||
Balance | $ 128,866 | $ 128,866 | |||||
Rate | 7.25% | [2] | 7.25% | [2] | 6.36% | ||
Subordinated Debentures | Two Thousand Six One Term Debt Securitization | |||||||
Subordinated Borrowing [Line Items] | |||||||
Balance | $ 51,545 | $ 51,545 | |||||
Rate | 7.25% | [2] | 7.25% | [2] | 6.36% | ||
Subordinated Debentures | Two Thousand Six Two Term Debt Securitization | |||||||
Subordinated Borrowing [Line Items] | |||||||
Balance | $ 51,550 | $ 51,550 | |||||
Rate | 7.25% | [2] | 7.25% | [2] | 6.36% | ||
Subordinated Debentures | Trust Preferred Securities Two Thousand Six Series Three | |||||||
Subordinated Borrowing [Line Items] | |||||||
Balance | [3] | $ 28,118 | $ 27,592 | ||||
Rate | 5.30% | [2] | 5.30% | [2] | 3.66% | ||
Subordinated Debentures | Trust Preferred Securities Two Thousand Six Series Four | |||||||
Subordinated Borrowing [Line Items] | |||||||
Balance | $ 16,470 | $ 16,470 | |||||
Rate | 7.25% | [2] | 7.25% | [2] | 6.36% | ||
Subordinated Debentures | Trust Preferred Securities Two Thousand Six Series Five | |||||||
Subordinated Borrowing [Line Items] | |||||||
Balance | $ 6,650 | $ 6,650 | |||||
Rate | 7.25% | [2] | 7.25% | [2] | 6.36% | ||
Subordinated Debentures | Two Thousand Seven One Term Debt Securitization | |||||||
Subordinated Borrowing [Line Items] | |||||||
Balance | $ 39,177 | $ 39,177 | |||||
Rate | 7.25% | [2] | 7.25% | [2] | 6.36% | ||
Subordinated Debentures | Subordinated notes due May 2031 | |||||||
Subordinated Borrowing [Line Items] | |||||||
Balance | $ 395,391 | [4] | $ 395,134 | ||||
Rate | 3.25% | [2] | 3.25% | [2] | 3.25% | ||
[1]Amount represents the fair value adjustment on trust preferred securities assumed in acquisitions.(6) On July 1, 2023, interest rate will transition to term SOFR plus the relevant spread adjustment as the applicable benchmark upon the cessation of LIBOR on June 30, 2023.[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 $4.6 million. |
Borrowings and Subordinated D_5
Borrowings and Subordinated Debentures - Narrative (Details) - USD ($) | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Mar. 31, 2023 | Dec. 31, 2022 | |
Debt Instrument [Line Items] | ||||
Other Borrowings, Fair Value Disclosure | $ 123,065,000 | $ 132,030,000 | ||
Proceeds from (Repayments of) Debt | 4,598,891,000 | $ 1,592,000,000 | ||
Assets Sold under Agreements to Repurchase, Carrying Amount | $ 1,324,273,000 | $ 0 | ||
Assets Sold under Agreements to Repurchase, Interest Rate | 8.50% | 0% | ||
Reserve Account Required Percent | 1.50% | |||
Debt Issuance Costs, Gross | $ 4,600,000 | $ 17,900,000 | ||
Issued Debt Accrued Exit Fees | $ 400,000 | |||
Assets Sold Under Agreements To Repurchase Collateralized Amount, Principal Balance | $ 2,100,000,000 | |||
One to Nine Months | ||||
Debt Instrument [Line Items] | ||||
Assets Sold under Agreements to Repurchase, Interest Rate | 8.50% | |||
Ten to 18 months | ||||
Debt Instrument [Line Items] | ||||
Assets Sold under Agreements to Repurchase, Interest Rate | 8.75% | |||
Unused Lines of Credit | ||||
Debt Instrument [Line Items] | ||||
Amount outstanding | $ 0 | $ 0 | ||
Current borrowing capacity | 100,000,000 | |||
Unused commitment fees | 0 | |||
AFX short-term borrowings | ||||
Debt Instrument [Line Items] | ||||
Current outstanding | 250,000,000 | |||
Amount outstanding | 0 | 250,000,000 | ||
Credit-Link Notes | ||||
Debt Instrument [Line Items] | ||||
Other Borrowings, Fair Value Disclosure | 123,065,000 | $ 132,030,000 | ||
Secured Debt | $ 2,550,000,000 | |||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 15.77% | 14.56% | ||
Credit-Link Notes | Initial Rate Spread | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 10.70% | |||
Credit-Link Notes | Highest Rate of Spread | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 13.25% | |||
Credit-Link Notes | Lowest Rate of Spread | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 8% | |||
Repurchase Agreements | ||||
Debt Instrument [Line Items] | ||||
Securities Loaned, Fair Value of Collateral | $ 2,100,000,000 | |||
Secured Debt, Repurchase Agreements | $ 1,400,000,000 | |||
Debt Instrument, Term | 1 year 6 months | |||
Federal Reserve Bank Advances | ||||
Debt Instrument [Line Items] | ||||
Amount outstanding | $ 0 | $ 0 | ||
Federal Reserve Bank Advances | Secured Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Borrowing capacity description | 6,600,000,000 | |||
Securities Loaned, Fair Value of Collateral | 1,400,000,000 | |||
Collateralized Financings | 7,000,000,000 | |||
Federal Reserve Bank Advances | Secured Debt [Member] | Bank Term Funding Program | ||||
Debt Instrument [Line Items] | ||||
Borrowing capacity description | 5,000,000,000 | |||
Securities Loaned, Fair Value of Collateral | 5,000,000,000 | |||
Federal Home Loan Bank of San Francisco | ||||
Debt Instrument [Line Items] | ||||
Securities Loaned, Fair Value of Collateral | 21,600,000 | |||
Collateralized Financings | 9,200,000,000 | |||
Federal Home Loan Bank of San Francisco | Secured Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Borrowing capacity description | 4,700,000,000 | |||
Current outstanding | 0 | 1,270,000,000 | ||
Federal Home Loan Bank of San Francisco | FHLB unsecured overnight advance | ||||
Debt Instrument [Line Items] | ||||
Current outstanding | $ 0 | $ 112,000,000 |
Derivatives (Details)
Derivatives (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | $ 161,483 | $ 163,689 |
Derivative assets | 11,642 | 11,862 |
Interest rate contracts | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 107,169 | 108,451 |
Derivative assets | 5,467 | 6,013 |
Interest rate contracts | Liability | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 107,169 | 108,451 |
Derivative liabilities | 5,328 | 5,825 |
Foreign exchange contracts | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 37,118 | 37,029 |
Derivative assets | 2,292 | 1,801 |
Foreign exchange contracts | Liability | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 37,118 | 37,029 |
Derivative liabilities | 166 | 81 |
Interest rate and economic contracts | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 144,287 | 145,480 |
Derivative assets | 7,759 | 7,814 |
Interest rate and economic contracts | Liability | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 144,287 | 145,480 |
Derivative liabilities | 5,494 | 5,906 |
Equity warrant assets | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 17,196 | 18,209 |
Derivative assets | $ 3,883 | $ 4,048 |
Commitments and Contingencies -
Commitments and Contingencies - Summary of Commitments (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Commitments and Contingencies Disclosure [Abstract] | ||
Loan commitments to extend credit | $ 5,845,375 | $ 11,110,264 |
Standby letters of credit | 300,557 | 320,886 |
Total | $ 6,145,932 | $ 11,431,150 |
Commitments and Contingencies_2
Commitments and Contingencies - Years In Which Commitments are Expected to be Paid (Details) $ in Thousands | Jun. 30, 2023 USD ($) |
Other Commitments [Line Items] | |
Commitments to contribute capital to small business investment companies and CRA-related loan pools | $ 78,030 |
2023 | |
Other Commitments [Line Items] | |
Commitments to contribute capital to small business investment companies and CRA-related loan pools | 43,161 |
2024 | |
Other Commitments [Line Items] | |
Commitments to contribute capital to small business investment companies and CRA-related loan pools | $ 34,869 |
Commitments and Contingencies_3
Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
Commitments and Contingencies Disclosure [Abstract] | ||
Commitment to contribute capital | $ 78 | $ 76.9 |
Fair Value Election (Details)
Fair Value Election (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Fair Value Election [Abstract] | ||
Other Borrowings, Fair Value Disclosure | $ 123,065 | $ 132,030 |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Other Borrowings, Fair Value Disclosure | 123,065 | 132,030 |
Borrowings - Credit-Link Notes | 127,700 | |
Credit-Link Notes | ||
Fair Value Election [Abstract] | ||
Other Borrowings, Fair Value Disclosure | 123,065 | 132,030 |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Other Borrowings, Fair Value Disclosure | $ 123,065 | $ 132,030 |
Fair Value Election, Credit Lin
Fair Value Election, Credit Link Notes Fair, Value Option (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Changes in Fair Value - Gains (Losses) | $ (472) | $ 0 | $ 1,526 | $ 0 |
Changes in Fair Value - Other Comprehensive Income | $ 4,057 | $ 0 | $ 4,057 | $ 0 |
Fair Value Election, Credit L_2
Fair Value Election, Credit Link, Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Fair Value Disclosures [Abstract] | ||
Other Borrowings, Fair Value Disclosure | $ 123,065 | $ 132,030 |
Borrowings - Credit-Link Notes | 127,700 | |
Aggregate Unpaid Principal Balance in Excess of (Less Than) Fair Value | $ 4,672 | $ (911) |
Fair Value Measurements - Narra
Fair Value Measurements - Narrative (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
SBIC Investments | $ 72,351,000 | $ 62,227,000 |
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 | (36,000) | |
Corporate Debt Securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | $ (8,800,000) |
Fair Value Measurements - Asset
Fair Value Measurements - Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, FV-NI | $ 1 | $ 1 |
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 4,708,519 | 4,843,487 |
Other Borrowings, Fair Value Disclosure | 123,065 | 132,030 |
Securities available-for-sale, at fair value | 4,708,519 | 4,843,487 |
Credit-Link Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Borrowings, Fair Value Disclosure | 123,065 | 132,030 |
Agency residential CMOs | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 439,227 | 457,063 |
Collateralized loan obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 104,823 | 102,261 |
Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 342,789 | 339,326 |
Agency commercial MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 479,957 | 487,606 |
SBA securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 15,082 | 17,250 |
Corporate Debt Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 280,513 | 311,905 |
U.S. Treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 673,083 | 670,070 |
Private label commercial MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 23,200 | 26,827 |
Private Label Collateralized Mortgage Obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 159,507 | 166,724 |
Asset-backed Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 21,725 | 22,413 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity warrants | 4,048 | |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity warrants | 3,883 | 4,048 |
Interest rate and economic contracts | 7,759 | 7,814 |
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 4,708,519 | |
Fair Value, Measurements, Recurring | Government agency and government-sponsored enterprise pass through securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 2,168,613 | 2,242,042 |
Fair Value, Measurements, Recurring | Agency residential CMOs | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 439,227 | 457,063 |
Fair Value, Measurements, Recurring | Collateralized loan obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 104,823 | 102,261 |
Fair Value, Measurements, Recurring | Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 342,789 | 339,326 |
Fair Value, Measurements, Recurring | Agency commercial MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 479,957 | 487,606 |
Fair Value, Measurements, Recurring | SBA securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 15,082 | 17,250 |
Fair Value, Measurements, Recurring | Corporate Debt Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 280,513 | 311,905 |
Fair Value, Measurements, Recurring | U.S. Treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 673,083 | 670,070 |
Fair Value, Measurements, Recurring | Private label commercial MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 23,200 | 26,827 |
Fair Value, Measurements, Recurring | Private Label Collateralized Mortgage Obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 159,507 | 166,724 |
Fair Value, Measurements, Recurring | Asset-backed Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 21,725 | 22,413 |
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 | 1 | 1 |
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 673,083 | 670,070 |
Other Borrowings | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Government agency and government-sponsored enterprise pass through securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Agency residential CMOs | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Collateralized loan obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Agency commercial MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | SBA securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Corporate Debt Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 673,083 | 670,070 |
Fair Value, Measurements, Recurring | Level 1 | Private label commercial MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Private Label Collateralized Mortgage Obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Asset-backed Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
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 | 7,759 | 7,814 |
Equity Securities, FV-NI | 0 | 0 |
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 4,028,446 | 4,173,417 |
Other Borrowings | 0 | 0 |
Fair Value, Measurements, Recurring | Level 2 | Government agency and government-sponsored enterprise pass through securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 2,168,613 | 2,242,042 |
Fair Value, Measurements, Recurring | Level 2 | Agency residential CMOs | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 439,227 | 457,063 |
Fair Value, Measurements, Recurring | Level 2 | Collateralized loan obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 104,823 | 102,261 |
Fair Value, Measurements, Recurring | Level 2 | Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 342,789 | 339,326 |
Fair Value, Measurements, Recurring | Level 2 | Agency commercial MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 479,957 | 487,606 |
Fair Value, Measurements, Recurring | Level 2 | SBA securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 15,082 | 17,250 |
Fair Value, Measurements, Recurring | Level 2 | Corporate Debt Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 273,523 | 311,905 |
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 2 | Private label commercial MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 23,200 | 26,827 |
Fair Value, Measurements, Recurring | Level 2 | Private Label Collateralized Mortgage Obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 159,507 | 166,724 |
Fair Value, Measurements, Recurring | Level 2 | Asset-backed Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 21,725 | 22,413 |
Fair Value, Measurements, Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity warrants | 3,883 | 4,048 |
Interest rate and economic contracts | 0 | 0 |
Equity Securities, FV-NI | 0 | 0 |
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 6,990 | 0 |
Other Borrowings | 123,065 | 132,030 |
Fair Value, Measurements, Recurring | Level 3 | Government agency and government-sponsored enterprise pass through securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Agency residential CMOs | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Collateralized loan obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Agency commercial MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | SBA securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Corporate Debt Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 6,990 | 0 |
Fair Value, Measurements, Recurring | Level 3 | U.S. Treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Private label commercial MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Private Label Collateralized Mortgage Obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Asset-backed Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | $ 0 | $ 0 |
Fair Value Measurements - Quant
Fair Value Measurements - Quantitative Inputs and Assumptions Used for Equity Warrants (Details) - Warrant - Fair Value, Measurements, Recurring - Level 3 | 6 Months Ended |
Jun. 30, 2023 | |
Weighted Average | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Equity Warrants, Measurement Input, Remaining Life | 3 years 3 months |
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 | 5 years |
Measurement Input, Price Volatility | Weighted Average | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Volatility | 0.275 |
Measurement Input, Price Volatility | Minimum | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Volatility | 0.198 |
Measurement Input, Price Volatility | Maximum | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Volatility | 1.533 |
Measurement Input, Risk Free Interest Rate | Weighted Average | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Volatility | 0.046 |
Measurement Input, Risk Free Interest Rate | Minimum | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Volatility | 0.041 |
Measurement Input, Risk Free Interest Rate | Maximum | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Volatility | 0.055 |
Fair Value Measurements - Activ
Fair Value Measurements - Activity for Level 3 Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |
Level 3 CMO [Roll Forward] | |||||
Other Borrowings, Fair Value Disclosure | $ 123,065 | $ 123,065 | $ 132,030 | ||
Total included in earnings | 0 | $ (1,105) | |||
Proceeds from (Repayments of) Debt | 4,598,891 | 1,592,000 | |||
Unrealized net holding gains (losses) on securities available-for-sale arising during the period | (64,145) | $ (72,572) | 3,826 | $ (682,398) | |
Credit-Link Notes | |||||
Level 3 CMO [Roll Forward] | |||||
Other Borrowings, Fair Value Disclosure | 123,065 | 123,065 | $ 132,030 | ||
Level 3 | |||||
Level 3 CMO [Roll Forward] | |||||
Equity warrants, Balance, beginning of period | 4,048 | ||||
Total included in earnings | (457) | ||||
Total included in other comprehensive income | 0 | ||||
Payments for Repurchase of Warrants | 0 | ||||
Sales, Equity Warrants | 390 | ||||
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount | 0 | ||||
Warrant (loss) income | 62 | ||||
Fair Value, Equity, Transfers to Level 1, Amount | 36 | ||||
Level 3 | Credit-Link Notes | |||||
Level 3 CMO [Roll Forward] | |||||
Total included in earnings | (1,526) | ||||
Total included in other comprehensive income | (4,057) | ||||
Proceeds from Issuance of Debt | 0 | ||||
Proceeds from (Repayments of) Debt | (3,382) | ||||
Fair Value, Equity, Level 2 to Level 1 Transfers, Description | |||||
Debt Securities Exercises and Settlements | 0 | ||||
Fair Value, Equity, Transfers to Level 1, Amount | 0 | ||||
Level 3 | Corporate Debt Securities | |||||
Level 3 CMO [Roll Forward] | |||||
Total included in earnings | 0 | ||||
Proceeds from Issuance of Debt | 0 | ||||
Proceeds from (Repayments of) Debt | 0 | ||||
Fair Value, Equity, Level 2 to Level 1 Transfers, Description | 8,750 | ||||
Debt Securities Exercises and Settlements | 0 | ||||
Fair Value, Measurements, Recurring | |||||
Level 3 CMO [Roll Forward] | |||||
Equity warrants, Balance, beginning of period | 4,048 | ||||
Equity warrants, Balance, end of period | 3,883 | 3,883 | |||
Fair Value, Measurements, Recurring | Level 3 | |||||
Level 3 CMO [Roll Forward] | |||||
Equity warrants, Balance, beginning of period | 4,048 | ||||
Equity warrants, Balance, end of period | 3,883 | 3,883 | |||
Fair Value, Measurements, Recurring | Level 3 | Corporate Debt Securities | |||||
Level 3 CMO [Roll Forward] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | $ 6,990 | 6,990 | |||
Total included in other comprehensive income | (1,760) | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 0 | ||||
Asset-backed | Fair Value, Measurements, Recurring | Level 3 | |||||
Level 3 CMO [Roll Forward] | |||||
Unrealized net holding gains (losses) on securities available-for-sale arising during the period | $ (1,760) |
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 | Jun. 30, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | $ 26,121 | $ 34,124 |
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 | 22,881 | 28,112 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 3,240 | 6,012 |
Non Purchased Credit Impaired Loans and Leases | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 25,122 | 34,077 |
Non Purchased Credit Impaired Loans and Leases | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | 0 |
Non Purchased Credit Impaired Loans and Leases | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 21,882 | 28,065 |
Non Purchased Credit Impaired Loans and Leases | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 3,240 | 6,012 |
Other real estate and foreclosed assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 999 | 47 |
Other real estate and foreclosed assets | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 0 | 0 |
Other real estate and foreclosed assets | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 999 | 47 |
Other real estate and foreclosed assets | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | $ 0 | $ 0 |
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 | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total losses | $ 1,083 | $ 1,569 | $ 5,104 | $ 1,584 |
Non Purchased Credit Impaired Loans and Leases | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total losses | 925 | 1,569 | 4,946 | 1,584 |
Other real estate and foreclosed assets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total losses | $ 158 | $ 0 | $ 158 | $ 0 |
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 - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 26,121 | $ 34,124 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 3,240 | 6,012 |
Non Purchased Credit Impaired Loans and Leases | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 25,122 | 34,077 |
Non Purchased Credit Impaired Loans and Leases | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 3,240 | 6,012 |
Other real estate and foreclosed assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 999 | 47 |
Other real estate and foreclosed assets | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 0 | $ 0 |
No Discounts | Third party appraisals | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 3,240 |
Fair Value Measurements - Carry
Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Certain Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Cash and due from banks | $ 208,300 | $ 212,273 | |||
Interest-earning deposits in financial institutions | 6,489,847 | 2,027,949 | |||
Securities available-for-sale, Carrying Amount | 4,708,519 | 4,843,487 | |||
Investment in FHLB stock, Carrying Amount | 17,250 | 34,290 | |||
Investment in FHLB stock, Fair Value | 17,250 | 34,290 | |||
Loans Held-for-sale, Fair Value Disclosure | 480,432 | 65,501 | |||
Loans Receivable Held-for-sale, Amount | 478,146 | 65,076 | |||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss | 2,278,202 | [1] | 2,269,135 | [2] | |
Loans and leases, net | [3] | 22,038,976 | 28,408,397 | ||
Loans and leases held for investment, net | 20,327,864 | 26,627,985 | |||
Equity Securities, FV-NI | 1 | 1 | |||
Servicing rights | 1,085 | 633 | |||
Demand, interest checking, money market, and savings deposits | 19,743,765 | 29,198,491 | |||
Time deposits | 8,153,318 | 4,737,843 | |||
Time deposits | 8,208,911 | 4,700,054 | |||
Borrowings (including $123,065 at fair value) | 6,357,338 | 1,764,030 | |||
Borrowings | 6,316,443 | 1,764,037 | |||
Subordinated debt | 870,378 | 867,087 | |||
Subordinated Debt Obligations, Fair Value Disclosure | 823,867 | 870,534 | |||
Derivative Liability | 5,494 | 5,906 | |||
Debt Securities, Held-to-maturity, Fair Value | 2,120,812 | [1] | 2,110,472 | [2] | |
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 4,708,519 | 4,843,487 | |||
U.S. Treasury securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss | 185,581 | 184,162 | |||
Debt Securities, Held-to-maturity, Fair Value | 172,594 | 171,700 | |||
Level 1 | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Cash and due from banks | 208,300 | 212,273 | |||
Interest-earning deposits in financial institutions | 6,489,847 | 2,027,949 | |||
Investment in FHLB stock, Fair Value | 0 | 0 | |||
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | |||
Demand, interest checking, money market, and savings deposits | 0 | 0 | |||
Time deposits | 0 | 0 | |||
Borrowings | 4,869,105 | 882,000 | |||
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 | 34,290 | |||
Loans Held-for-sale, Fair Value Disclosure | 480,432 | 65,501 | |||
Demand, interest checking, money market, and savings deposits | 19,743,765 | 29,198,491 | |||
Time deposits | 8,208,911 | 4,700,054 | |||
Borrowings | 0 | 750,007 | |||
Subordinated Debt Obligations, Fair Value Disclosure | 823,867 | 870,534 | |||
Level 3 | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Cash and due from banks | 0 | 0 | |||
Interest-earning deposits in financial institutions | 0 | 0 | |||
Investment in FHLB stock, Fair Value | 0 | 0 | |||
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | |||
Loans and leases held for investment, net | 20,305,982 | 26,599,920 | |||
Equity warrants | 4,048 | ||||
Demand, interest checking, money market, and savings deposits | 0 | 0 | |||
Time deposits | 0 | 0 | |||
Borrowings | 1,447,338 | 132,030 | |||
Subordinated Debt Obligations, Fair Value Disclosure | 0 | 0 | |||
Fair Value, Measurements, Recurring | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Equity warrants | 3,883 | 4,048 | |||
Other derivative assets, Fair Value | 7,759 | 7,814 | |||
Derivative liabilities | 5,494 | 5,906 | |||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 4,708,519 | ||||
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 | 1 | 1 | |||
Servicing rights | 0 | 0 | |||
Derivative liabilities | 0 | 0 | |||
Debt Securities, Held-to-maturity, Fair Value | 172,594 | ||||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 673,083 | 670,070 | |||
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 | 7,759 | 7,814 | |||
Equity Securities, FV-NI | 0 | 0 | |||
Servicing rights | 0 | 0 | |||
Derivative liabilities | 5,494 | 5,906 | |||
Debt Securities, Held-to-maturity, Fair Value | 1,943,686 | 1,938,772 | |||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 4,028,446 | 4,173,417 | |||
Fair Value, Measurements, Recurring | Level 3 | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Equity warrants | 3,883 | 4,048 | |||
Other derivative assets, Fair Value | 0 | 0 | |||
Equity Securities, FV-NI | 0 | 0 | |||
Servicing rights | 1,085 | 633 | |||
Derivative liabilities | 0 | 0 | |||
Debt Securities, Held-to-maturity, Fair Value | 4,532 | 0 | |||
Securities available-for-sale, at fair value (amortized cost of $5,515,823 and $5,654,617, respectively) | 6,990 | 0 | |||
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 | $ 21,882 | $ 28,065 | |||
[1]Excludes accrued interest receivable of $13.4 million at June 30, 2023 which is recorded in "Other assets" on the condensed consolidated balance sheets[2]Excludes accrued interest receivable of $13.5 million at December 31, 2022 which is recorded in "Other assets" on the condensed consolidated balance sheets[3]Excludes accrued interest receivable of $103.8 million and $124.3 million at June 30, 2023 and December 31, 2022, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets. |
Fair Value Measurements - Qua_2
Fair Value Measurements - Quantitations and Assumptions for Fair Value of Assets Serviced by Third Party (Details) - Level 3 - Fair Value, Measurements, Recurring | 6 Months Ended |
Jun. 30, 2023 | |
Weighted Average | Warrant | Measurement Input, Price Volatility | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Volatility | 0.275 |
Weighted Average | Corporate Debt Securities | Spread to 10 Year Treasury | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Volatility | 0.055 |
Weighted Average | Corporate Debt Securities | Discount Rates | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Volatility | 0.094 |
Minimum | Warrant | Measurement Input, Price Volatility | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Volatility | 0.198 |
Minimum | Corporate Debt Securities | Spread to 10 Year Treasury | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Corporate Debt, Measurement Input | 4% |
Minimum | Corporate Debt Securities | Measurement Input, Discount Rate | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Corporate Debt, Measurement Input | 7.90% |
Maximum | Warrant | Measurement Input, Price Volatility | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Volatility | 1.533 |
Maximum | Corporate Debt Securities | Spread to 10 Year Treasury | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Corporate Debt, Measurement Input | 6.90% |
Maximum | Corporate Debt Securities | Measurement Input, Discount Rate | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Corporate Debt, Measurement Input | 10.80% |
Earnings (Loss) Per Share (Deta
Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |||
Earnings Per Share [Abstract] | ||||||
Net earnings from continuing operations | $ (197,414) | $ 122,360 | $ (1,392,838) | $ 242,488 | ||
Less: Earnings allocated to unvested restricted stock | 82 | [1] | (2,351) | [1] | (238) | (4,389) |
Undistributed Earnings, Basic | (207,279) | 120,009 | (1,412,970) | 238,099 | ||
Net earnings allocated to common shares | $ (207,361) | $ 122,360 | $ (1,412,732) | $ 242,488 | ||
Weighted-average basic shares and unvested restricted stock outstanding (shares) | 120,275 | 120,022 | 120,257 | 119,810 | ||
Weighted-average unvested restricted stock outstanding (shares) | (2,020) | (2,460) | (2,163) | (2,354) | ||
Weighted-average basic shares outstanding (shares) | 118,255 | 117,562 | 118,094 | 117,456 | ||
Basic net income per share (usd per share) | $ (1.75) | $ 1.02 | $ (11.96) | $ 2.03 | ||
Net earnings from continuing operations allocated to common shares | $ (207,279) | $ 120,009 | $ (1,412,970) | $ 238,099 | ||
Diluted net income per share (usd per share) | $ (1.75) | $ 1.02 | $ (11.96) | $ 2.03 | ||
Preferred Stock Dividends, Income Statement Impact | $ (9,947) | $ 0 | $ (19,894) | $ 0 | ||
[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 | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Disaggregation of Revenue [Line Items] | ||||
Total interest income | $ 539,888 | $ 350,518 | $ 1,057,676 | $ 673,422 |
Service charges on deposit accounts | 4,315 | 3,634 | 7,888 | 7,205 |
Other commissions and fees | 11,241 | 10,813 | 21,585 | 22,393 |
Leased equipment income | 22,387 | 12,335 | 36,244 | 25,429 |
(Loss) gain on sale of loans and leases | (158,881) | 12 | (155,919) | 72 |
Net realized gains (losses) | 0 | (1,209) | 0 | (1,105) |
Other income | 2,265 | 3,049 | 7,155 | 6,204 |
Total noninterest (loss) income | (128,082) | 34,346 | (91,691) | 55,164 |
Revenues | 411,806 | 384,864 | 965,985 | 728,586 |
Service charges on deposit accounts | 8,679 | 7,700 | 16,953 | 15,042 |
Dividends and Gains (Losses) on Equity Investments | 2,658 | 4,097 | 3,756 | (7,278) |
Warrant (loss) income | (124) | 1,615 | (457) | 2,244 |
LOCOM HFS Adjustment | (11,943) | 0 | (11,943) | 0 |
Products and services transferred at a point in time | 3,849 | 3,771 | 8,201 | 7,697 |
Products and services transferred over time | 4,830 | 3,929 | 8,752 | 7,345 |
Interest Income | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 0 | 0 | 0 | 0 |
Service charges on deposit accounts | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 4,315 | 3,634 | 7,888 | 7,205 |
Other commissions and fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 4,124 | 4,001 | 8,555 | 7,774 |
Leased equipment income | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 0 | 0 | 0 | 0 |
Gain on sale of loans | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 0 | 0 | 0 | 0 |
Gain on sale of securities | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 0 | 0 | 0 | 0 |
Other income | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 240 | 65 | 510 | 63 |
Noninterest Income | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 8,679 | 7,700 | 16,953 | 15,042 |
Dividends and Gains (Losses) on Equity Investments | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 0 | 0 | 0 | 0 |
Warranty Income | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | 0 | 0 | 0 | 0 |
LOCOM HFS Adjustment Group | ||||
Disaggregation of Revenue [Line Items] | ||||
Service charges on deposit accounts | $ 0 | $ 0 | $ 0 | $ 0 |
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 | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Revenue From Contracts With Customers [Abstract] | ||||
Products and services transferred at a point in time | $ 3,849 | $ 3,771 | $ 8,201 | $ 7,697 |
Products and services transferred over time | 4,830 | 3,929 | 8,752 | 7,345 |
Total revenue from contracts with customers | $ 8,679 | $ 7,700 | $ 16,953 | $ 15,042 |
Revenue From Contracts With C_5
Revenue From Contracts With Customers - Contract Balances (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Statement of Financial Position [Abstract] | ||
Receivables, which are included in "Other assets" | $ 1,548 | $ 1,403 |
Contract liabilities, which are included in "Accrued interest payable and other liabilities" | $ 453 | $ 488 |
Revenue From Contracts With C_6
Revenue From Contracts With Customers - Narrative (Details) | Dec. 31, 2022 USD ($) |
Revenue From Contracts With Customers [Abstract] | |
Contract with Customer, Liability | $ 35,000 |
Stockholders' Equity - Narrativ
Stockholders' Equity - Narrative (Details) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2023 USD ($) $ / shares shares | Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) $ / shares shares | Dec. 31, 2022 $ / shares shares | Jun. 06, 2022 $ / shares shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Restricted Stock Amortization | $ | $ 7,700,000 | $ 9,000,000 | |||
Unvested restricted shares (shares) | 1,626,235 | 1,626,235 | 2,405,878 | ||
Vesting period of time-based restricted stock, lower limit | 3 years | ||||
Preferred stock issued (shares) | 513,250 | 513,250 | 513,250 | 20,530,000 | |
Preferred Stock, Liquidation Preference Per Share | $ / shares | $ 1,000 | $ 1,000 | $ 1,000 | $ 1,000 | |
Preferred Stock Depository Share | $ | $ 25 | $ 25 | |||
Preferred stock par value (usd per share) | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | ||
1/40th Ownership Interest | 0.025 | ||||
Preferred Class A | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Investment Interest Rate | 7.75% | ||||
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) | 656,049 | 656,049 | |||
Vesting term | 3 years | ||||
Performance Shares | Minimum | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting percentage | 0% | ||||
Performance Shares, Two | Maximum | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting percentage | 200% | ||||
PacWest 2017 Stock Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares available for grant (shares) | 1,869,341 | 1,869,341 | |||
Unrecognized share based compensation expense | $ | $ 55,300,000 | $ 55,300,000 | |||
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) | 1,626,235 | 1,626,235 | |||
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) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | |||||
Aug. 02, 2023 $ / shares | Jun. 30, 2023 $ / shares | Mar. 31, 2023 $ / shares | Jun. 30, 2022 $ / shares | Mar. 31, 2022 $ / shares | Jun. 30, 2023 | Jul. 25, 2023 USD ($) bank_branch shares | |
Subsequent Event [Line Items] | |||||||
Preferred stock dividends declared per share (usd per share) | $ 0.48 | $ 0.48 | |||||
Common stock dividends declared per share (usd per share) | $ 0.01 | $ 0.25 | $ 0.25 | $ 0.25 | |||
Banc of California, Inc. | |||||||
Subsequent Event [Line Items] | |||||||
Conversion of Stock, Description | 0.6569 | ||||||
Business Combination Warrants | shares | 18.9 | ||||||
Business Combination, Acquiring Company Assets | $ | $ 9,370 | ||||||
Locations | bank_branch | 33 | ||||||
Retail Branch Acquirer Locations | bank_branch | 27 | ||||||
Banc of California, Inc. | Warburg Pincus, LLC and Centerbridge Parners, L.P. | |||||||
Subsequent Event [Line Items] | |||||||
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Costs | $ | $ 400 | ||||||
Subsequent Event | Dividend Declared | |||||||
Subsequent Event [Line Items] | |||||||
Preferred stock dividends declared per share (usd per share) | $ 0.4845 | ||||||
Common stock dividends declared per share (usd per share) | $ 0.01 |
Item 5. Other Information (Deta
Item 5. Other Information (Details) | 6 Months Ended |
Jun. 30, 2023 numberOfOfficers | |
Nonmonetary Transactions [Abstract] | |
Rule 10b5-1 Trading Arrangement Adopted | 0 |
Non-Rule 10b5-1 Trading Arrangement Adopted | 0 |