Cover Page
Cover Page - shares | 3 Months Ended | |
Mar. 31, 2024 | May 02, 2024 | |
Entity Listings [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2024 | |
Document Transition Report | false | |
Entity File Number | 001-35522 | |
Entity Registrant Name | BANC OF CALIFORNIA, INC. | |
Entity Incorporation, State or Country Code | MD | |
Entity Tax Identification Number | 04-3639825 | |
Entity Address, Address Line One | 11611 San Vicente Boulevard, Suite 500 | |
Entity Address, City or Town | Los Angeles | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 90049 | |
City Area Code | 855 | |
Local Phone Number | 361-2262 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 157,745,771 | |
Entity Central Index Key | 0001169770 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Common Stock | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | Common Stock, par value $0.01 per share | |
Trading Symbol | BANC | |
Security Exchange Name | NYSE | |
Preferred Class A | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | perpetual preferred stock, Series F | |
Trading Symbol | BANC/PF | |
Security Exchange Name | NYSE |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |||
ASSETS: | |||||
Cash and due from banks | $ 199,922 | $ 202,427 | |||
Interest-earning deposits in financial institutions | 2,885,306 | 5,175,149 | |||
Total cash, cash equivalents, and restricted cash | 3,085,228 | 5,377,576 | |||
Securities available-for-sale, at fair value, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 2,286,682 | 2,346,864 | |||
Securities held-to-maturity, at amortized cost, net of allowance for credit losses (fair value of $2,153,349 and $2,168,316, respectively) | 2,291,984 | [1] | 2,287,291 | [2] | |
FRB and FHLB stock, at cost | 129,314 | 126,346 | |||
Total investment securities | 4,707,980 | 4,760,501 | |||
Loans held for sale | 80,752 | 122,757 | |||
Loans held for investment, net | 25,517,028 | 25,534,730 | |||
Loans and leases held for investment | 25,755,961 | 25,796,714 | |||
Deferred fees, net | (44,006) | (45,043) | |||
Allowance for loan and lease losses | (291,503) | (281,687) | |||
Total loans and leases held for investment, net | [3] | 25,181,519 | 25,208,000 | ||
Equipment leased to others under operating leases | 339,925 | 344,325 | |||
Premises and equipment, net | 144,912 | 146,798 | |||
Bank owned life insurance | 341,806 | 339,643 | |||
Goodwill | 198,627 | 198,627 | |||
Intangible assets, net | 157,226 | 165,477 | |||
Deferred tax asset, net | 741,158 | 739,111 | |||
Other assets | 1,094,383 | 1,131,249 | |||
Total assets | 36,073,516 | 38,534,064 | |||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||
Noninterest-bearing deposits | 7,833,608 | 7,774,254 | |||
Interest-bearing deposits | 21,058,799 | 22,627,515 | |||
Total deposits | 28,892,407 | 30,401,769 | |||
Borrowings (including $123,824 and $123,116 at fair value, respectively) | 2,139,498 | 2,911,322 | |||
Subordinated debt | 937,717 | 936,599 | |||
Accrued interest payable and other liabilities | 709,744 | 893,609 | |||
Total liabilities | 32,679,366 | 35,143,299 | |||
Commitments and contingencies | |||||
Preferred stock | 498,516 | 498,516 | |||
Common stock ($0.01 par value, 158,390,708 shares issued and 157,608,893 outstanding at March 31, 2024; 157,651,751 shares issued and 156,790,349 outstanding at December 31, 2023) | 1,583 | 1,577 | |||
Class B Non-voting common stock ($0.01 par value, 477,32 shares issued at March 31, 204 and 477,321 share issued at December 31, 2023) | 5 | 5 | |||
Additional paid-in capital | 3,827,777 | 3,840,974 | |||
Retained deficit | (497,396) | (518,301) | |||
Accumulated other comprehensive loss, net | (436,436) | (432,114) | |||
Total stockholders' equity | 3,394,150 | 3,390,765 | |||
Total liabilities and stockholders' equity | 36,073,516 | 38,534,064 | |||
Nonvoting Common Stock | |||||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||||
Non-voting common stock equivalents ($0.01 par value, 10,145,600 shares issued at March 31, 2024 and 10,829,990 shares issued at December 31, 2023) | $ 101 | $ 108 | |||
[1]Excludes accrued interest receivable of $11.3 million at March 31, 2024 which is recorded in "Other assets" on the condensed consolidated balance sheets[2]Excludes accrued interest receivable of $13.4 million at December 31, 2023 which is recorded in "Other assets" on the condensed consolidated balance sheets[3]Excludes accrued interest receivable of $109.3 million and $111.3 million at March 31, 2024 and December 31, 2023, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets. |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Earnings - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | |
Interest income: | |||
Loans and leases | $ 385,465 | $ 346,308 | $ 430,685 |
Investment securities | 34,303 | 41,280 | 44,237 |
Deposits in financial institutions | 58,936 | 79,652 | 42,866 |
Total interest income | 478,704 | 467,240 | 517,788 |
Interest expense: | |||
Deposits | 194,807 | 207,760 | 155,892 |
Borrowings | 38,124 | 92,474 | 69,122 |
Subordinated debt | 16,671 | 15,955 | 13,502 |
Total interest expense | 249,602 | 316,189 | 238,516 |
Net interest income | 229,102 | 151,051 | 279,272 |
Provision for credit losses | 10,000 | 47,000 | 3,000 |
Net interest income after provision for credit losses | 219,102 | 104,051 | 276,272 |
Noninterest income: | |||
Leased equipment income | 11,716 | 12,369 | 13,857 |
Other commissions and fees | 8,142 | 8,860 | 10,344 |
Service charges on deposit accounts | 4,705 | 4,562 | 3,573 |
(Loss) gain on sale of loans and leases | (448) | (3,526) | 2,962 |
Loss on sale of securities | 0 | (442,413) | 0 |
Dividends and gains on equity investments | 3,068 | 8,138 | 1,098 |
Warrant income (loss) | 178 | (173) | (333) |
LOCOM HFS adjustment | 330 | 3,175 | 0 |
Other income | 6,125 | 8,606 | 4,890 |
Total noninterest income (loss) | 33,816 | (400,402) | 36,391 |
Noninterest expense: | |||
Compensation | 92,236 | 89,354 | 88,476 |
Insurance and assessments | 20,461 | 60,016 | 11,717 |
Customer related expense | 30,919 | 45,826 | 24,005 |
Occupancy | 17,968 | 15,925 | 15,067 |
Information technology and data processing | 15,418 | 13,099 | 12,979 |
Leased equipment depreciation | 7,520 | 7,447 | 9,375 |
Other professional services | 5,075 | 2,980 | 6,073 |
Loan expense | 4,491 | 4,446 | 6,524 |
Intangible asset amortization | 8,404 | 4,230 | 2,411 |
Acquisition, integration and reorganization costs | 0 | 111,800 | 8,514 |
Goodwill impairment | 0 | 0 | 1,376,736 |
Other expense | 8,026 | 8,515 | 11,126 |
Total noninterest expense | 210,518 | 363,638 | 1,573,003 |
Earnings (loss) before income taxes | 42,400 | (659,989) | (1,260,340) |
Income tax expense (benefit) | (11,548) | 177,034 | 64,916 |
Net earnings (loss) | 30,852 | (482,955) | (1,195,424) |
Preferred stock dividends | 9,947 | 9,947 | 9,947 |
Net earnings (loss) available to common and equivalent stockholders, basic | 20,905 | (492,902) | (1,205,371) |
Net earnings (loss) available to common and equivalent stockholders, diluted | $ 20,905 | $ (492,902) | $ (1,205,371) |
Earnings (loss) per share: | |||
Basic (usd per share) | $ 0.12 | $ (4.55) | $ (15.56) |
Diluted (usd per share) | $ 0.12 | $ (4.55) | $ (15.56) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | |||
Statement of Comprehensive Income [Abstract] | |||||
Net earnings (loss) | $ 30,852 | $ (482,955) | $ (1,195,424) | ||
Other comprehensive income (loss), net of tax: | |||||
Unrealized net holding (losses) gains on securities available-for-sale arising during the period | (18,208) | 161,900 | 67,971 | ||
Income tax benefit (expense) related to unrealized net holding gains (losses) arising during the period | 5,167 | (44,206) | (18,828) | ||
Unrealized net holding (losses) gains on securities available-for-sale, net of tax | (13,041) | 117,694 | 49,143 | ||
Reclassification adjustment for net (gains) losses included in net earnings | 0 | [1] | 442,413 | 0 | [1] |
Income tax benefit related to reclassification adjustment | 0 | (120,797) | 0 | ||
Reclassification adjustment for net losses included in net earnings, net of tax | 0 | 321,616 | 0 | ||
Amortization of unrealized net loss on securities transferred from available-for-sale to held-to-maturity | (8,110) | (8,136) | (7,884) | ||
Income tax expense related to amortization of unrealized net loss on securities transferred from available-for-sale to held-to-maturity | (2,302) | (2,254) | (2,184) | ||
Amortization of unrealized net loss on securities transferred from available-for-sale to held-to-maturity, net of tax | 5,808 | 5,882 | 5,700 | ||
Change in fair value of credit-linked notes | (1,251) | 687 | 0 | ||
Income tax benefit (expense) related to change in fair value of credit-linked notes | 355 | (254) | 0 | ||
Change in fair value of credit-linked notes, net of tax | (896) | 433 | 0 | ||
Unrealized gain (loss) on cash flow hedges arising during the period | 5,425 | (5,714) | 0 | ||
Income tax (expense) benefit related to unrealized gain (loss) on cash flow hedges arising during the period | (1,618) | 1,657 | 0 | ||
Unrealized gain (loss) on cash flow hedges, net of tax | 3,807 | (4,057) | 0 | ||
Other comprehensive (loss) income, net of tax | (4,322) | 441,568 | 54,843 | ||
Comprehensive income (loss) | $ 26,530 | $ (41,387) | $ (1,140,581) | ||
[1] Entire amounts are recognized in "Loss on sale of securities" on the Condensed Consolidated Statements of Earnings (Loss). |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) | Total | Class B Nonvoting | Voting Common Stock | Nonvoting Common Stock Equivalents | Preferred Stock | Class B Nonvoting Non-Voting Common Stock Equivalents | Common Stock | Common Stock Class B Nonvoting | Common Stock Voting Common Stock | Common Stock Voting Common Stock Restricted Stock-Based Compensation | Common Stock Voting Common Stock Restricted Stock-Based Compensation Surrendered | Common Stock Nonvoting Common Stock Equivalents | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) |
Stockholders' Equity Disclosure [Rollforward] | |||||||||||||||
Preferred stock outstanding (shares) | 513,250 | ||||||||||||||
Common stock, outstanding (in shares) | 78,973,869 | ||||||||||||||
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 | $ 498,516,000 | $ 1,230,000 | $ 2,821,064,000 | $ 1,420,624,000 | $ (790,903,000) | |||||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||||||||||
Net earnings (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 stock compensation, net of shares forfeited | 4,983,000 | 2,000 | 4,981,000 | ||||||||||||
Restricted stock surrendered | (4,053,000) | (4,053,000) | |||||||||||||
Dividends, Preferred Stock | (9,947,000) | ||||||||||||||
Cash dividends paid | (29,456,000) | (29,456,000) | |||||||||||||
Ending Period Balance at Mar. 31, 2023 | $ 2,771,477,000 | $ 498,516,000 | 1,232,000 | 2,792,536,000 | 215,253,000 | (736,060,000) | |||||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||||||||||
Preferred stock outstanding (shares) | 513,250 | ||||||||||||||
Common stock, outstanding (in shares) | 78,988,424 | ||||||||||||||
Common stock, issued (in shares) | 110,661 | 96,106 | |||||||||||||
Preferred stock outstanding (shares) | 513,250 | ||||||||||||||
Common stock, outstanding (in shares) | 156,790,349 | 477,321 | 477,321 | 157,651,752 | |||||||||||
Common stock, issued (in shares) | 157,651,752 | 477,321 | 10,829,990 | ||||||||||||
Preferred stock dividends declared per share (usd per share) | $ 0.48 | ||||||||||||||
Common stock dividends declared per share (usd per share) | $ 0.10 | ||||||||||||||
Beginning Period Balance at Dec. 31, 2023 | $ 3,390,765,000 | $ 498,516,000 | $ 108,000 | 1,577,000 | $ 5,000 | 3,840,974,000 | (518,301,000) | (432,114,000) | |||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||||||||||
Net earnings (loss) | 30,852,000 | 30,852,000 | |||||||||||||
Other comprehensive loss, net of tax | (4,322,000) | (4,322,000) | |||||||||||||
Restricted stock awarded and earned stock compensation, net of shares forfeited | 4,656,000 | (7,000) | 6,000 | 4,657,000 | |||||||||||
Restricted stock surrendered | (1,238,000) | (1,238,000) | |||||||||||||
Shares purchased under the Dividend Reinvestment Plan | 70,000 | 70,000 | |||||||||||||
Dividends, Preferred Stock | (9,947,000) | ||||||||||||||
Cash dividends paid | (16,686,000) | (16,686,000) | |||||||||||||
Ending Period Balance at Mar. 31, 2024 | $ 3,394,150,000 | $ 498,516,000 | $ 101,000 | $ 1,583,000 | $ 5,000 | $ 3,827,777,000 | $ (497,396,000) | $ (436,436,000) | |||||||
Stockholders' Equity Disclosure [Rollforward] | |||||||||||||||
Stock Repurchased During Period, Shares | 4,721 | ||||||||||||||
Conversion of non-voting common stock equivalents to Voting Common Stock | $ (684,390) | $ 684,390 | |||||||||||||
Preferred stock outstanding (shares) | 513,250 | 513,250 | |||||||||||||
Common stock, outstanding (in shares) | 157,608,893 | 477,321 | 477,321 | 158,390,708 | |||||||||||
Common stock, issued (in shares) | 158,390,708 | 477,321 | 67,209 | 17,364 | 10,145,600 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash flows from operating activities: | ||
Net earnings (loss) | $ 30,852 | $ (1,195,424) |
Adjustments to reconcile net earnings (loss) to net cash used in operating activities: | ||
Goodwill impairment | 0 | 1,376,736 |
Depreciation and amortization | 13,875 | 13,939 |
Amortization of net premiums on investment securities | 6,138 | 9,526 |
Increase (Decrease) in Loans, Deferred Income | (24,087) | (16,013) |
Amortization of intangible assets | 8,404 | 2,411 |
Amortization of operating lease ROU assets | 8,204 | 6,655 |
Provision for credit losses | 10,000 | 3,000 |
Gain on sale of foreclosed assets | (321) | (196) |
Provision for losses on foreclosed assets | 297 | 527 |
Loss (gain) on sale of loans and leases | 448 | (2,962) |
Gain on sale of premises and equipment | (1) | (7) |
Gain on BOLI death benefit | 0 | (350) |
Unrealized loss (gain) on derivatives, foreign currencies, and credit-linked notes, net | 513 | (1,781) |
LOCOM HFS adjustment | (330) | 0 |
Earned stock compensation | 4,656 | 4,983 |
Decrease (increase) in other assets | 31,579 | (129,223) |
Decrease in accrued interest payable and other liabilities | (178,623) | (108,825) |
Net cash used in operating activities | (88,396) | (37,004) |
Cash flows from investing activities: | ||
Net increase in loans and leases | (202,957) | (77,243) |
Proceeds from sales of loans and leases | 273,241 | 290,228 |
Proceeds from maturities and paydowns of securities available-for-sale | 44,517 | 56,956 |
Purchases of securities available-for-sale | (5,558) | (550) |
Proceeds from maturities and paydowns of securities held-to-maturity | 294 | 288 |
Purchases of FHLB and FRB stock | (2,968) | (194,041) |
Redemptions of FHLB and FRB stock | 0 | 81,181 |
Proceeds from sales of foreclosed assets | 5,893 | 5,124 |
Purchases of premises and equipment, net | (1,942) | (9,236) |
Proceeds from sales of premises and equipment | 2 | 13 |
Proceeds from BOLI death benefit | 0 | 1,844 |
Net increase in equipment leased to others under operating leases | (3,120) | (5,097) |
Net cash provided by investing activities | 107,402 | 149,467 |
Cash flows from financing activities: | ||
Net increase (decrease) in noninterest-bearing deposits | 59,354 | (4,181,598) |
Net decrease in interest-bearing deposits | (1,568,716) | (1,567,175) |
Repayments of borrowings | (1,074,191) | (251,657) |
Proceeds from borrowings | 300,000 | 10,371,337 |
Shares purchased under the Dividend Reinvestment Plan | 70 | 0 |
Restricted stock surrendered | (1,238) | (4,053) |
Preferred stock dividends paid | (9,947) | (9,947) |
Common stock dividends paid | (16,686) | (29,456) |
Net cash (used in) provided by financing activities | (2,311,354) | 4,327,451 |
Net (decrease) increase in cash, cash equivalents, and restricted cash | (2,292,348) | 4,439,914 |
Cash, cash equivalents, and restricted cash, beginning of period | 5,377,576 | 2,240,222 |
Cash, cash equivalents, and restricted cash, end of period | 3,085,228 | 6,680,136 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 360,934 | 209,340 |
Cash (received) paid for income taxes | (7,193) | 786 |
Loans transferred to foreclosed assets | 10,964 | 2,568 |
Transfers from loans held for investment to loans held for sale | 7,466 | 2,796,365 |
Transfers to loans held for investment from loans held for sale | $ 1,179 | $ 0 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | ||
Securities available for sale, amortized cost | $ 2,657,281 | $ 2,699,255 | ||
Securities held to maturity, fair value | $ 2,153,349 | [1] | $ 2,168,316 | [2] |
Common stock, par value (usd per share) | $ 0.01 | $ 0.01 | ||
Common stock, outstanding (in shares) | 157,608,893 | 156,790,349 | ||
Common stock, issued (in shares) | 158,390,708 | 157,651,752 | ||
Class B Nonvoting | ||||
Common stock, par value (usd per share) | $ 0.01 | $ 0.01 | ||
Common stock, outstanding (in shares) | 477,321 | 477,321 | ||
Common stock, issued (in shares) | 477,321 | 477,321 | ||
Nonvoting Common Stock | ||||
Common stock, par value (usd per share) | $ 0.01 | $ 0.01 | ||
Common stock, issued (in shares) | 10,145,600 | 10,829,990 | ||
Credit-Link Notes | ||||
Other borrowings | $ 123,824 | $ 123,116 | ||
[1]Excludes accrued interest receivable of $11.3 million at March 31, 2024 which is recorded in "Other assets" on the condensed consolidated balance sheets[2]Excludes accrued interest receivable of $13.4 million at December 31, 2023 which is recorded in "Other assets" on the condensed consolidated balance sheets |
Organization
Organization | 3 Months Ended |
Mar. 31, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization | ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Banc of California, Inc., a Maryland corporation, was incorporated in March 2002 and serves as the holding company for its wholly owned subsidiary, Banc of California (the “Bank”), a California state-chartered bank and member of the FRB. When we refer to the “parent” or the “holding company", we are referring to Banc of California, Inc., the parent company, on a stand-alone basis. When we refer to “we,” “us,” “our,” or the “Company”, we are referring to Banc of California, Inc. and its consolidated subsidiaries including the Bank, collectively. As a bank holding company, Banc of California, Inc. is subject to ongoing and comprehensive supervision, regulation, examination, and enforcement by the FRB. As a California state-chartered bank and a member of the FRB, the Bank is subject to ongoing and comprehensive supervision, regulation, examination, and enforcement by the DFPI and the FRB. The Bank is also a member of the FHLB system, and its deposit accounts are insured by the Deposit Insurance Fund (the "DIF") of the FDIC. Banc of California is one of the nation's premier relationship-based business banks focused on providing banking and treasury management services to small-, middle-market, and venture-backed businesses. The Bank provides a broad range of loan and deposit products and services through more than 90 full-service branches throughout California and in Denver, Colorado, and Durham, North Carolina, as well as full-stack payment processing solutions through its subsidiary, Deepstack Technologies, LLC (“Deepstack”). Banc of California also serves the Community Association Management Industry nationwide with its technology-forward platform SmartStreet™. The Bank is committed to its local communities by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more. 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, 2023 as filed with the Securities and Exchange Commission ("Form 10-K"). Accounting Standards Adopted in 2024 Effective January 1, 2024, the Company adopted 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 should not be considered in measuring fair value. It also requires entities with investments in equity securities subject to contractual sale restrictions to disclose certain qualitative and quantitative information about such securities. The Company does not take into account contractual sale restrictions in determining the fair value of its equity securities, therefore, the adoption of this amendment did not have a material impact on the Company's consolidated financial statements. Effective January 1, 2024, the Company adopted ASU 2023-02, " Investments - 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. The Company adopted this update on a prospective basis and determined that the adoption of this amendment did not have a material impact on the Company's consolidated financial statements. Basis of Presentation The accounting and reporting policies of the Company are in accordance with U.S. generally accepted accounting principles, which we may refer to as U.S. GAAP. In the opinion of management, all significant intercompany accounts and transactions have been eliminated and adjustments, consisting solely of normal recurring accruals and considered necessary for the fair presentation of financial statements have been included. On November 30, 2023, PacWest Bancorp merged with and into Banc of California, Inc. (the “Merger”), with Banc of California, Inc. continuing as the surviving legal corporation and Banc of California, Inc. concurrently closed a $400 million equity capital raise. The Merger was accounted for as a reverse merger using the acquisition method of accounting, therefore, PacWest Bancorp was deemed the acquirer for financial reporting purposes, even though Banc of California, Inc. was the legal acquirer. The Merger was an all-stock transaction and has been accounted for as a business combination. Banc of California Inc.'s financial results for all periods ended prior to November 30, 2023 reflect PacWest Bancorp results only on a standalone basis. In addition, Banc of California Inc.'s reported financial results for the year ended December 31, 2023 reflect PacWest Bancorp financial results only on a standalone basis until the closing of the Merger on November 30, 2023, and results of the combined company for the month of December 2023. The number of shares issued and outstanding, earnings per share, and all references to share quantities or metrics of Banc of California, Inc. have been retrospectively restated to reflect the equivalent number of shares issued in the Merger as the Merger was accounted for as a reverse merger. Under the reverse merger method of accounting, the assets and liabilities of legacy Banc of California, Inc. as of November 30, 2023 were recorded at their respective fair values. 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 The Company has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period to prepare these consolidated financial statements in conformity with U.S. GAAP. Actual results could differ from those estimates. Material estimates subject to change in the near term include, among other items, the allowance for credit losses (the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments), the carrying value of goodwill and other intangible assets, the fair value of assets and liabilities acquired in business combinations and the related purchase price allocation, 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. |
Restricted Cash Balances
Restricted Cash Balances | 3 Months Ended |
Mar. 31, 2024 | |
Restricted Cash [Abstract] | |
Restricted Cash Balances | RESTRICTED CASH The Company is required to maintain reserve balances with the FRBSF. Such reserve requirements are based on a percentage of deposit liabilities and may be satisfied by cash on hand. There were no average reserves required to be held at the FRBSF for the period ended March 31, 2024 and 2023. As of March 31, 2024 and December 31, 2023, we pledged cash collateral for our derivative contracts of $2.9 million and $3.3 million. In connection with the issuance of the credit-linked notes on September 29, 2022, legacy Pacific Western Bank established a correspondent bank account at a third party financial institution as the collateral account for the credit-linked notes. The repayment of principal on the credit-linked notes is secured by this collateral account, which had a balance of $124.3 million at March 31, 2024 and $125.2 million at December 31, 2023. Starting in the second quarter of 2023, we began to pledge cash to secure the standby letters of credit that we have issued on behalf of our customers. As of March 31, 2024 and December 31, 2023, the balance of such restricted cash totaled $57.3 million |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2024 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | INVESTMENT SECURITIES Securities Available-for-Sale The following table presents amortized cost, gross unrealized gains and losses, and fair values of securities available-for-sale as of the dates indicated: March 31, 2024 Allowance Gross Gross Amortized for Credit Net Carrying Unrealized Unrealized Fair Security Type Cost Losses Amount Gains Losses Value (In thousands) Agency residential MBS $ 1,364,245 $ — $ 1,364,245 $ — $ (226,776) $ 1,137,469 Agency commercial MBS 260,116 — 260,116 — (16,729) 243,387 Agency residential CMOs 317,605 — 317,605 — (36,036) 281,569 Municipal securities 34,645 — 34,645 — (1,386) 33,259 Corporate debt securities 327,447 (199) 327,248 1,592 (51,642) 277,198 Private label residential CMOs 190,508 — 190,508 — (37,096) 153,412 Collateralized loan obligations 109,167 — 109,167 — (89) 109,078 Private label commercial MBS 20,725 — 20,725 — (1,234) 19,491 Asset-backed securities 18,906 — 18,906 2 — 18,908 SBA securities 13,917 — 13,917 — (1,006) 12,911 Total $ 2,657,281 $ (199) $ 2,657,082 $ 1,594 $ (371,994) $ 2,286,682 December 31, 2023 Allowance Gross Gross Amortized for Credit Net Carrying Unrealized Unrealized Fair Security Type Cost Losses Amount Gains Losses Value (In thousands) Agency residential MBS $ 1,388,801 $ — $ 1,388,801 $ — $ (201,192) $ 1,187,609 U.S. Treasury securities 4,965 — 4,965 3 — 4,968 Agency commercial MBS 268,639 — 268,639 — (15,333) 253,306 Agency residential CMOs 320,984 — 320,984 — (36,650) 284,334 Municipal securities 29,192 — 29,192 — (1,109) 28,083 Corporate debt securities 327,426 (199) 327,227 259 (60,254) 267,232 Private label residential CMOs 193,071 — 193,071 — (34,659) 158,412 Collateralized loan obligations 109,168 — 109,168 — (752) 108,416 Private label commercial MBS 22,126 — 22,126 — (1,313) 20,813 Asset-backed securities 20,241 — 20,241 — (289) 19,952 SBA securities 14,642 — 14,642 — (903) 13,739 Total $ 2,699,255 $ (199) $ 2,699,056 $ 262 $ (352,454) $ 2,346,864 As of March 31, 2024, the Company had recorded an allowance for credit losses on securities available-for-sale of $199,000. We do not currently intend to sell any of the securities in an unrealized loss position and further believe it is more likely than not that we will not be required to sell these securities before their anticipated recovery. As of March 31, 2024, securities available-for-sale with a fair value of $771.1 million were pledged as collateral solely for the Bank Term Funding Program borrowings. Realized Gains and Losses on Securities Available-for-Sale The were no investment securities sales for the three months ended March 31, 2024 and 2023. Unrealized Losses on Securities Available-for-Sale The following tables present the gross unrealized losses and fair values of securities available-for-sale that were in unrealized loss positions as of the dates indicated: March 31, 2024 Less Than 12 Months 12 Months or More Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Security Type Value Losses Value Losses Value Losses (In thousands) Agency residential MBS $ — $ — $ 1,137,469 $ (226,776) $ 1,137,469 $ (226,776) Agency commercial MBS — — 243,387 (16,729) 243,387 (16,729) Agency residential CMOs — — 281,569 (36,036) 281,569 (36,036) Municipal securities — — 33,259 (1,386) 33,259 (1,386) Corporate debt securities — — 274,022 (51,642) 274,022 (51,642) Private label residential CMOs — — 153,412 (37,096) 153,412 (37,096) Collateralized loan obligations — — 17,811 (89) 17,811 (89) Private label commercial MBS — — 19,491 (1,234) 19,491 (1,234) SBA securities — — 12,911 (1,006) 12,911 (1,006) Total $ — $ — $ 2,173,331 $ (371,994) $ 2,173,331 $ (371,994) December 31, 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 $ — $ — $ 1,187,609 $ (201,192) $ 1,187,609 $ (201,192) Agency commercial MBS — — 253,306 (15,333) 253,306 (15,333) Agency residential CMOs — — 265,431 (36,650) 265,431 (36,650) Municipal securities — — 284,334 (1,109) 284,334 (1,109) Corporate debt securities — — 19,952 (60,254) 19,952 (60,254) Private label residential CMOs — — 158,412 (34,659) 158,412 (34,659) Collateralized loan obligations — — 66,886 (752) 66,886 (752) Private label commercial MBS — — 28,083 (1,313) 28,083 (1,313) Asset-backed securities — — 20,813 (289) 20,813 (289) SBA securities — — 13,739 (903) 13,739 (903) Total $ — $ — $ 2,298,565 $ (352,454) $ 2,298,565 $ (352,454) The securities that were in an unrealized loss position at March 31, 2024, 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, net" 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 tables present the contractual maturities of our securities available-for-sale portfolio based on amortized cost and fair value as of the date indicated: March 31, 2024 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 $ — $ — $ — $ 1,364,245 $ 1,364,245 Agency commercial MBS — 168,889 73,834 17,393 260,116 Agency residential CMOs — 36,144 15,122 266,339 317,605 Municipal securities — 16,878 17,767 — 34,645 Corporate debt securities — 5,000 322,447 — 327,447 Private label residential CMOs — — — 190,508 190,508 Collateralized loan obligations — — 109,167 — 109,167 Private label commercial MBS — — 1,250 19,475 20,725 Asset-backed securities — — — 18,906 18,906 SBA securities — 2,431 — 11,486 13,917 Total $ — $ 229,342 $ 539,587 $ 1,888,352 $ 2,657,281 March 31, 2024 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) Fair Value: Agency residential MBS $ — $ — $ — $ 1,137,469 $ 1,137,469 Agency commercial MBS — 159,271 67,780 16,336 243,387 Agency residential CMOs — 33,651 14,020 233,898 281,569 Municipal securities — 16,411 16,848 — 33,259 Corporate debt securities — 4,825 272,373 — 277,198 Private label residential CMOs — — — 153,412 153,412 Collateralized loan obligations — — 109,078 — 109,078 Private label commercial MBS — — 1,206 18,285 19,491 Asset-backed securities — — — 18,908 18,908 SBA securities — 2,312 — 10,599 12,911 Total $ — $ 216,470 $ 481,305 $ 1,588,907 $ 2,286,682 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: March 31, 2024 Allowance for Net Gross Gross Amortized Credit Carrying Unrealized Unrealized Fair Security Type Cost Losses Amount Gains Losses Value (In thousands) Municipal securities $ 1,248,355 $ (140) $ 1,248,215 $ 676 $ (42,079) $ 1,206,812 Agency commercial MBS 435,467 — 435,467 — (34,619) 400,848 Private label commercial MBS 351,688 — 351,688 — (28,499) 323,189 U.S. Treasury securities 187,759 — 187,759 — (15,421) 172,338 Corporate debt securities 70,215 (1,360) 68,855 — (18,693) 50,162 Total (1) $ 2,293,484 $ (1,500) $ 2,291,984 $ 676 $ (139,311) $ 2,153,349 __________________________ (1) Excludes accrued interest receivable of $11.3 million at March 31, 2024 which is recorded in "Other assets" on the condensed consolidated balance sheets. December 31, 2023 Allowance for Net Gross Gross Amortized Credit Carrying Unrealized Unrealized Fair Security Type Cost Losses Amount Gains Losses Value (In thousands) Municipal securities $ 1,247,310 $ (140) $ 1,247,170 $ 1,760 $ (28,170) $ 1,220,760 Agency commercial MBS 433,827 — 433,827 — (30,665) 403,162 Private label commercial MBS 350,493 — 350,493 — (29,289) 321,204 U.S. Treasury securities 187,033 — 187,033 — (11,454) 175,579 Corporate debt securities 70,128 (1,360) 68,768 — (21,157) 47,611 Total (1) $ 2,288,791 $ (1,500) $ 2,287,291 $ 1,760 $ (120,735) $ 2,168,316 __________________________ (1) Excludes accrued interest receivable of $13.4 million at December 31, 2023 which is recorded in "Other assets" on the condensed consolidated balance sheets. As of March 31, 2024, 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 the FRB secured line of credit, Bank Term Funding Program borrowings, and public deposits. 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 March 31, 2024 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 March 31, 2023 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: March 31, 2024 Security Type AAA AA+ AA AA- A+ A A- BBB NR Total (In thousands) Amortized Cost: Municipal securities $ 564,266 $ 399,503 $ 166,758 $ 86,334 $ 12,001 $ 1,783 $ — $ — $ 17,710 $ 1,248,355 Agency commercial MBS — 435,467 — — — — — — — 435,467 Private label commercial MBS 351,688 — — — — — — — — 351,688 U.S. Treasury securities — 187,759 — — — — — — — 187,759 Corporate debt securities — — — — — — — 44,405 25,810 70,215 Total $ 915,954 $ 1,022,729 $ 166,758 $ 86,334 $ 12,001 $ 1,783 $ — $ 44,405 $ 43,520 $ 2,293,484 December 31, 2023 Security Type AAA AA+ AA AA- A+ A A- BBB NR Total (In thousands) Amortized Cost: Municipal securities $ 564,127 $ 397,542 $ 167,905 $ 86,243 $ 12,007 $ 1,787 $ — $ — $ 17,699 $ 1,247,310 Agency commercial MBS — 433,827 — — — — — — — 433,827 Private label commercial MBS 350,493 — — — — — — — — 350,493 U.S. Treasury securities — 187,033 — — — — — — — 187,033 Corporate debt securities — — — — — — — 44,371 25,757 70,128 Total $ 914,620 $ 1,018,402 $ 167,905 $ 86,243 $ 12,007 $ 1,787 $ — $ 44,371 $ 43,456 $ 2,288,791 Contractual Maturities of Securities Held-to-Maturity The following tables present the contractual maturities of our securities held-to-maturity portfolio based on amortized cost and fair value as of the date indicated: March 31, 2024 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 $ — $ 17,710 $ 394,075 $ 836,570 $ 1,248,355 Agency commercial MBS — — 435,467 — 435,467 Private label commercial MBS — — 36,515 315,173 351,688 U.S. Treasury securities — — 187,759 — 187,759 Corporate debt securities — — 10,181 60,034 70,215 Total $ — $ 17,710 $ 1,063,997 $ 1,211,777 $ 2,293,484 March 31, 2024 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) Fair Value: Municipal securities $ — $ 17,550 $ 376,643 $ 812,619 $ 1,206,812 Agency commercial MBS — — 400,848 — 400,848 Private label commercial MBS — — 34,328 288,861 323,189 U.S. Treasury securities — — 172,338 — 172,338 Corporate debt securities — — 9,350 40,812 50,162 Total $ — $ 17,550 $ 993,507 $ 1,142,292 $ 2,153,349 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 March 31, 2024 2023 (In thousands) Taxable interest $ 27,601 $ 38,692 Non-taxable interest 4,720 4,903 Dividend income 1,982 642 Total interest income on investment securities $ 34,303 $ 44,237 |
Loans and Leases
Loans and Leases | 3 Months Ended |
Mar. 31, 2024 | |
Receivables [Abstract] | |
Loans and Leases | LOANS AND LEASES Our loans are carried at the principal amount outstanding, net of deferred fees and costs, and in the case of acquired and purchased loans, net of purchase discounts and premiums. Deferred fees and costs and purchase discounts and premiums on acquired loans are recognized as an adjustment to interest income over the contractual life of the loans primarily using the effective interest method or taken into income when the related loans are paid off or included in the carrying amount of loans that are sold. Loans and Leases Held for Investment The following table summarizes the composition of our loans and leases held for investment as of the dates indicated: March 31, December 31, 2024 2023 (In thousands) Real estate mortgage $ 16,217,186 $ 16,378,537 Real estate construction and land (1) 3,266,639 3,183,357 Commercial 5,831,666 5,780,346 Consumer 440,470 454,474 Total gross loans and leases held for investment 25,755,961 25,796,714 Unearned discounts, net (2) (238,933) (261,984) Deferred fees, net (44,006) (45,043) Total loans and leases held for investment, net of unearned discounts and deferred fees 25,473,022 25,489,687 Allowance for loan and lease losses (291,503) (281,687) Total loans and leases held for investment, net (3) $ 25,181,519 $ 25,208,000 ____________________ (1) Includes land and acquisition and development loans of $235.7 million and $228.9 million at March 31, 2024 and December 31, 2023. (2) Represents net acquisition discounts of $308.9 million and purchase premiums of $70.0 million at March 31, 2024, and net acquisition discounts of $334.2 million and purchase premiums of $72.2 million at December 31, 2023. (3) Excludes accrued interest receivable of $109.3 million and $111.3 million at March 31, 2024 and December 31, 2023, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets. The following tables present an aging analysis of our loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated: March 31, 2024 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 69,213 $ 6,828 $ 76,041 $ 4,820,503 $ 4,896,544 Multi-family 9,046 — 9,046 6,112,426 6,121,472 Other residential 75,158 39,396 114,554 4,834,829 4,949,383 Total real estate mortgage 153,417 46,224 199,641 15,767,758 15,967,399 Real estate construction and land: Commercial — — — 775,021 775,021 Residential 4,606 — 4,606 2,465,727 2,470,333 Total real estate construction and land 4,606 — 4,606 3,240,748 3,245,354 Commercial: Asset-based 11,701 2,325 14,026 2,046,990 2,061,016 Venture capital — — — 1,513,641 1,513,641 Other commercial 5,887 8,440 14,327 2,231,583 2,245,910 Total commercial 17,588 10,765 28,353 5,792,214 5,820,567 Consumer 2,810 584 3,394 436,308 439,702 Total $ 178,421 $ 57,573 $ 235,994 $ 25,237,028 $ 25,473,022 December 31, 2023 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 12,618 $ 15,168 $ 27,786 $ 4,998,711 $ 5,026,497 Multi-family 2,302 1,020 3,322 6,021,857 6,025,179 Other residential 93,042 4,341 97,383 4,962,926 5,060,309 Total real estate mortgage 107,962 20,529 128,491 15,983,494 16,111,985 Real estate construction and land: Commercial — — — 759,585 759,585 Residential — — — 2,399,684 2,399,684 Total real estate construction and land — — — 3,159,269 3,159,269 Commercial: Asset-based 608 2,689 3,297 2,185,788 2,189,085 Venture capital — — — 1,446,362 1,446,362 Other commercial 1,276 6,993 8,269 2,121,591 2,129,860 Total commercial 1,884 9,682 11,566 5,753,741 5,765,307 Consumer 3,461 670 4,131 448,995 453,126 Total $ 113,307 $ 30,881 $ 144,188 $ 25,345,499 $ 25,489,687 It is our policy to discontinue accruing interest when principal or interest payments are past due 90 days or more (unless the loan is both well secured and in the process of collection) or when, in the opinion of management, there is a reasonable doubt as to the collectability of a loan or lease in the normal course of business. Interest income on nonaccrual loans is recognized only to the extent cash is received and the principal balance of the loan is deemed collectable. The following table presents our nonaccrual and performing loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated: March 31, 2024 December 31, 2023 Nonaccrual Performing Total Nonaccrual Performing Total (In thousands) Real estate mortgage: Commercial $ 66,527 $ 4,830,017 $ 4,896,544 $ 15,669 $ 5,010,828 $ 5,026,497 Multi-family 953 6,120,519 6,121,472 1,020 6,024,159 6,025,179 Other residential 61,754 4,887,629 4,949,383 31,041 5,029,268 5,060,309 Total real estate mortgage 129,234 15,838,165 15,967,399 47,730 16,064,255 16,111,985 Real estate construction and land: Commercial — 775,021 775,021 — 759,585 759,585 Residential — 2,470,333 2,470,333 — 2,399,684 2,399,684 Total real estate construction and land — 3,245,354 3,245,354 — 3,159,269 3,159,269 Commercial: Asset-based 2,325 2,058,691 2,061,016 2,689 2,186,396 2,189,085 Venture capital — 1,513,641 1,513,641 325 1,446,037 1,446,362 Other commercial 13,390 2,232,520 2,245,910 10,972 2,118,888 2,129,860 Total commercial 15,715 5,804,852 5,820,567 13,986 5,751,321 5,765,307 Consumer 836 438,866 439,702 811 452,315 453,126 Total $ 145,785 $ 25,327,237 $ 25,473,022 $ 62,527 $ 25,427,160 $ 25,489,687 At March 31, 2024, nonaccrual loans and leases included $57.6 million of loans and leases 90 or more days past due, $59.6 million of loans and leases 30 to 89 days past due, and $28.6 million of loans and leases current with respect to contractual payments that were placed on nonaccrual status based on management’s judgment regarding their collectability. At December 31, 2023, nonaccrual loans and leases included $19.1 million of loans and leases 90 or more days past due, $11.4 million of loans and leases 30 to 89 days past due, and $32.0 million of current loans and leases that were placed on nonaccrual status based on management’s judgment regarding their collectability. As of March 31, 2024, our three largest loan relationships on nonaccrual status had an aggregate carrying value of $46.3 million and represented 32% of total nonaccrual loans and leases. The following tables present the credit risk rating categories for loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated. Classified loans and leases are those with a credit risk rating of either substandard or doubtful. March 31, 2024 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 174,525 $ 196,450 $ 4,525,569 $ 4,896,544 Multi-family 74,646 94,218 5,952,608 6,121,472 Other residential 66,410 31,599 4,851,374 4,949,383 Total real estate mortgage 315,581 322,267 15,329,551 15,967,399 Real estate construction and land: Commercial — — 775,021 775,021 Residential — 3,005 2,467,328 2,470,333 Total real estate construction and land — 3,005 3,242,349 3,245,354 Commercial: Asset-based 8,495 11,316 2,041,205 2,061,016 Venture capital 10,453 198,311 1,304,877 1,513,641 Other commercial 31,222 15,080 2,199,608 2,245,910 Total commercial 50,170 224,707 5,545,690 5,820,567 Consumer 978 6,530 432,194 439,702 Total $ 366,729 $ 556,509 $ 24,549,784 $ 25,473,022 December 31, 2023 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 75,739 $ 219,687 $ 4,731,071 $ 5,026,497 Multi-family 74,954 108,356 5,841,869 6,025,179 Other residential 38,155 54,197 4,967,957 5,060,309 Total real estate mortgage 188,848 382,240 15,540,897 16,111,985 Real estate construction and land: Commercial — — 759,585 759,585 Residential — 2,757 2,396,927 2,399,684 Total real estate construction and land — 2,757 3,156,512 3,159,269 Commercial: Asset-based 4,561 12,506 2,172,018 2,189,085 Venture capital 7,805 98,633 1,339,924 1,446,362 Other commercial 26,044 9,984 2,093,832 2,129,860 Total commercial 38,410 121,123 5,605,774 5,765,307 Consumer 1,159 7,192 444,775 453,126 Total $ 228,417 $ 513,312 $ 24,747,958 $ 25,489,687 The following table presents our nonaccrual loans and leases by loan portfolio segment and class and by with and without an allowance recorded as of the date indicated and interest income recognized on nonaccrual loans and leases for the periods indicated: Three Months Three Months Ended Ended March 31, March 31, March 31, March 31, 2024 2024 2023 2023 Nonaccrual Interest Nonaccrual Interest Recorded Income Recorded Income Investment Recognized Investment Recognized (In thousands) With An Allowance Recorded: Real estate mortgage: Commercial $ 32,106 $ — $ 60 $ — Multi-family — — — — Other residential 389 — 364 — Real estate construction and land: Commercial — — — — Residential — — — — Commercial: Asset-based 701 — — — Venture capital — — — — Other commercial 816 — 927 — Consumer 832 — 525 — With No Related Allowance Recorded: Real estate mortgage: Commercial $ 34,421 $ 5 $ 32,936 $ 3 Multi-family 953 — — — Other residential 61,365 — 49,696 — Real estate construction and land: Commercial — — — — Residential — — — — Commercial: Asset-based 1,624 — 420 — Venture capital — — — — Other commercial 12,574 — 2,196 1 Consumer 4 — — — Total Loans and Leases With and Without an Allowance Recorded: Real estate mortgage $ 129,234 $ 5 $ 83,056 $ 3 Real estate construction and land — — — — Commercial 15,715 — 3,543 1 Consumer 836 — 525 — Total $ 145,785 $ 5 $ 87,124 $ 4 The following tables present our loans held for investment by loan portfolio segment and class, by credit quality indicator (internal risk ratings), and by year of origination (vintage year) as of the dates indicated: Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term March 31, 2024 2024 2023 2022 2021 2020 Prior Loans Loans Total (In thousands) Real Estate Mortgage: Commercial Internal risk rating: 1-3 High pass $ — $ — $ 26,137 $ 15,151 $ 13,787 $ 88,693 $ 1 $ — $ 143,769 4-6 Pass 2,941 169,935 918,384 759,995 508,887 1,924,197 62,325 35,136 4,381,800 7 Special mention — — 14,054 80,551 3,579 98,266 — — 196,450 8-9 Classified — 730 5,019 27,734 24,675 115,263 1,104 — 174,525 Total $ 2,941 $ 170,665 $ 963,594 $ 883,431 $ 550,928 $ 2,226,419 $ 63,430 $ 35,136 $ 4,896,544 Current YTD period: Gross charge-offs $ — $ — $ — $ 28 $ — $ 9 $ — $ — $ 37 Real Estate Mortgage: Multi-family Internal risk rating: 1-3 High pass $ — $ — $ 45,501 $ 158,588 $ 67,642 $ 174,599 $ — $ — $ 446,330 4-6 Pass 18,571 88,432 2,226,235 1,196,320 578,112 1,339,150 11,478 47,980 5,506,278 7 Special mention — — — 8,063 15,465 70,690 — — 94,218 8-9 Classified — — — 17,284 8,552 48,810 — — 74,646 Total $ 18,571 $ 88,432 $ 2,271,736 $ 1,380,255 $ 669,771 $ 1,633,249 $ 11,478 $ 47,980 $ 6,121,472 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Real Estate Mortgage: Other residential Internal risk rating: 1-3 High pass $ — $ — $ — $ — $ — $ — $ 6,693 $ — $ 6,693 4-6 Pass 1,795 184,141 1,764,313 2,757,120 64,163 19,743 53,324 82 4,844,681 7 Special mention — — 27,992 3,323 — 284 — — 31,599 8-9 Classified — 5,027 36,971 21,551 939 1,742 147 33 66,410 Total $ 1,795 $ 189,168 $ 1,829,276 $ 2,781,994 $ 65,102 $ 21,769 $ 60,164 $ 115 $ 4,949,383 Current YTD period: Gross charge-offs $ — $ 851 $ 1,028 $ 540 $ 21 $ — $ — $ — $ 2,440 ____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees. Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term March 31, 2024 2024 2023 2022 2021 2020 Prior Loans Loans Total (In thousands) Real Estate Construction and Land: Commercial Internal risk rating: 1-3 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 4-6 Pass 5,783 26,160 417,605 221,095 71,133 11,351 21,894 — 775,021 7 Special mention — — — — — — — — — 8-9 Classified — — — — — — — — — Total $ 5,783 $ 26,160 $ 417,605 $ 221,095 $ 71,133 $ 11,351 $ 21,894 $ — $ 775,021 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Real Estate Construction and Land: Residential Internal risk rating: 1-3 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 4-6 Pass 10,774 87,735 1,315,850 645,125 255,161 26,908 125,775 — 2,467,328 7 Special mention — — — 3,005 — — — — 3,005 8-9 Classified — — — — — — — — — Total $ 10,774 $ 87,735 $ 1,315,850 $ 648,130 $ 255,161 $ 26,908 $ 125,775 $ — $ 2,470,333 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial: Asset-Based Internal risk rating: 1-3 High pass $ 16,929 $ 38,274 $ 230,364 $ 213,767 $ 32,957 $ 316,425 $ 85,599 $ — $ 934,315 4-6 Pass (9) 111,264 215,198 125,887 16,485 32,016 606,049 — 1,106,890 7 Special mention — — 75 3 — 1 11,237 — 11,316 8-9 Classified — — — — 701 — 7,794 — 8,495 Total $ 16,920 $ 149,538 $ 445,637 $ 339,657 $ 50,143 $ 348,442 $ 710,679 $ — $ 2,061,016 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial: Venture Capital Internal risk rating: 1-3 High pass $ (85) $ (98) $ (5) $ — $ 1,998 $ (2) $ 148,410 $ 1,407 $ 151,625 4-6 Pass 24,976 71,914 102,487 106,549 5,821 6,774 749,806 84,925 1,153,252 7 Special mention — 61,994 28,850 31,934 — 19,987 50,551 4,995 198,311 8-9 Classified — 2,967 — 7,486 — — — — 10,453 Total $ 24,891 $ 136,777 $ 131,332 $ 145,969 $ 7,819 $ 26,759 $ 948,767 $ 91,327 $ 1,513,641 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ 141 $ — $ 141 ____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees. Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term March 31, 2024 2024 2023 2022 2021 2020 Prior Loans Loans Total (In thousands) Commercial: Other Commercial Internal risk rating: 1-3 High pass $ 505 $ 785 $ 4,273 $ 4,855 $ 105 $ 1,221 $ 61,631 $ — $ 73,375 4-6 Pass 44,466 81,764 175,174 278,317 49,333 180,267 1,314,086 2,826 2,126,233 7 Special mention — — — 457 — 6,560 7,999 64 15,080 8-9 Classified — — 2,281 3,556 2,061 18,277 3,991 1,056 31,222 Total $ 44,971 $ 82,549 $ 181,728 $ 287,185 $ 51,499 $ 206,325 $ 1,387,707 $ 3,946 $ 2,245,910 Current YTD period: Gross charge-offs $ — $ — $ — $ 211 $ — $ 121 $ 231 $ — $ 563 Consumer Internal risk rating: 1-3 High pass $ — $ — $ 25 $ 21 $ 3 $ — $ 1,918 $ — $ 1,967 4-6 Pass 8,903 25,411 68,254 199,872 22,426 99,514 5,535 312 430,227 7 Special mention — — 1,119 3,712 103 1,596 — — 6,530 8-9 Classified — — 128 502 43 290 — 15 978 Total $ 8,903 $ 25,411 $ 69,526 $ 204,107 $ 22,575 $ 101,400 $ 7,453 $ 327 $ 439,702 Current YTD period: Gross charge-offs $ — $ — $ 335 $ 643 $ 209 $ 646 $ — $ — $ 1,833 Total Loans and Leases Internal risk rating: 1-3 High pass $ 17,349 $ 38,961 $ 306,295 $ 392,382 $ 116,492 $ 580,936 $ 304,252 $ 1,407 $ 1,758,074 4-6 Pass 118,200 846,756 7,203,500 6,290,280 1,571,521 3,639,920 2,950,272 171,261 22,791,710 7 Special mention — 61,994 72,090 131,048 19,147 197,384 69,787 5,059 556,509 8-9 Classified — 8,724 44,399 78,113 36,971 184,382 13,036 1,104 366,729 Total $ 135,549 $ 956,435 $ 7,626,284 $ 6,891,823 $ 1,744,131 $ 4,602,622 $ 3,337,347 $ 178,831 $ 25,473,022 Current YTD period: Gross charge-offs $ — $ 851 $ 1,363 $ 1,422 $ 230 $ 776 $ 372 $ — $ 5,014 ______________________ (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, 2023 2023 2022 2021 2020 2019 Prior Loans Loans Total (In thousands) Real Estate Mortgage: Commercial Internal risk rating: 1-3 High pass $ — $ 16,976 $ 17,432 $ 16,832 $ 17,337 $ 69,205 $ 1 $ — $ 137,783 4-6 Pass 182,236 933,294 814,564 510,952 298,985 1,765,454 76,866 10,937 4,593,288 7 Special mention — 14,021 32,235 25,485 17,147 129,549 1,250 — 219,687 8-9 Classified 749 — 26,172 439 17,063 29,566 1,750 — 75,739 Total $ 182,985 $ 964,291 $ 890,403 $ 553,708 $ 350,532 $ 1,993,774 $ 79,867 $ 10,937 $ 5,026,497 Current YTD period: Gross charge-offs $ 34 $ — $ — $ — $ 76 $ 14,185 $ — $ — $ 14,295 Real Estate Mortgage: Multi-family Internal risk rating: 1-3 High pass $ — $ 28,155 $ 140,424 $ 58,959 $ 57,988 $ 109,423 $ — $ — $ 394,949 4-6 Pass 66,143 2,221,235 1,193,052 539,660 564,420 794,599 67,811 — 5,446,920 7 Special mention — 2,610 17,784 12,201 39,808 35,953 — — 108,356 8-9 Classified — — 17,283 8,576 26,543 22,552 — — 74,954 Total $ 66,143 $ 2,252,000 $ 1,368,543 $ 619,396 $ 688,759 $ 962,527 $ 67,811 $ — $ 6,025,179 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Real Estate Mortgage: Other residential Internal risk rating: 1-3 High pass $ — $ — $ — $ — $ — $ — $ 6,769 $ — $ 6,769 4-6 Pass 188,561 1,824,253 2,812,293 65,230 — 19,518 51,246 87 4,961,188 7 Special mention — 46,263 7,568 — — — 366 — 54,197 8-9 Classified 3,847 18,263 12,908 1,223 — 1,764 65 85 38,155 Total $ 192,408 $ 1,888,779 $ 2,832,769 $ 66,453 $ — $ 21,282 $ 58,446 $ 172 $ 5,060,309 Current YTD period: Gross charge-offs $ 3,402 $ 23,544 $ 5,385 $ 740 $ — $ 4 $ — $ — $ 33,075 ____________________ (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, 2023 2023 2022 2021 2020 2019 Prior Loans Loans Total (In thousands) Real Estate Construction and Land: Commercial Internal risk rating: 1-3 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 4-6 Pass 23,916 388,165 214,303 68,833 16,781 27,175 20,412 — 759,585 7 Special mention — — — — — — — — — 8-9 Classified — — — — — — — — — Total $ 23,916 $ 388,165 $ 214,303 $ 68,833 $ 16,781 $ 27,175 $ 20,412 $ — $ 759,585 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Real Estate Construction and Land: Residential Internal risk rating: 1-3 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 4-6 Pass 64,341 1,185,297 668,083 336,636 — 26,896 115,674 — 2,396,927 7 Special mention — — 2,757 — — — — — 2,757 8-9 Classified — — — — — — — — — Total $ 64,341 $ 1,185,297 $ 670,840 $ 336,636 $ — $ 26,896 $ 115,674 $ — $ 2,399,684 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial: Asset-Based Internal risk rating: 1-3 High pass $ 32,485 $ 237,936 $ 223,088 $ 39,380 $ 119,364 $ 254,638 $ 89,667 $ — $ 996,558 4-6 Pass 122,064 238,206 132,449 17,823 7,447 25,945 630,073 1,453 1,175,460 7 Special mention — 101 — — — 1 12,394 10 12,506 8-9 Classified — — — 701 — 340 3,520 — 4,561 Total $ 154,549 $ 476,243 $ 355,537 $ 57,904 $ 126,811 $ 280,924 $ 735,654 $ 1,463 $ 2,189,085 Current YTD period: Gross charge-offs $ — $ — $ — $ 60 $ — $ — $ — $ 150 $ 210 Commercial: Venture Capital Internal risk rating: 1-3 High pass $ (84) $ (7) $ — $ 1,998 $ — $ (3) $ 136,339 $ (140) $ 138,103 4-6 Pass 101,038 128,485 113,183 6,473 6,216 622 770,941 74,863 1,201,821 7 Special mention 17,481 10,984 31,928 — 19,986 — 13,260 4,994 98,633 8-9 Classified — — 7,808 — — — (3) — 7,805 Total $ 118,435 $ 139,462 $ 152,919 $ 8,471 $ 26,202 $ 619 $ 920,537 $ 79,717 $ 1,446,362 Current YTD period: Gross charge-offs $ — $ 2,245 $ 2,759 $ — $ — $ — $ 9 $ — $ 5,013 ____________________ (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, 2023 2023 2022 2021 2020 2019 Prior Loans Loans Total (In thousands) Commercial: Other Commercial Internal risk rating: 1-3 High pass $ 815 $ 4,350 $ 5,216 $ 130 $ 29 $ 2,148 $ 66,827 $ — $ 79,515 4-6 Pass 98,643 201,215 285,249 50,582 39,951 158,810 1,176,946 2,921 2,014,317 7 Special mention 1,748 1,306 442 554 540 5,071 254 69 9,984 8-9 Classified — 912 4,011 1,706 1,299 13,768 3,257 1,091 26,044 Total $ 101,206 $ 207,783 $ 294,918 $ 52,972 $ 41,819 $ 179,797 $ 1,247,284 $ 4,081 $ 2,129,860 Current YTD period: Gross charge-offs $ — $ 6,867 $ 24 $ — $ 28 $ 75 $ 1,013 $ 431 $ 8,438 Consumer Internal risk rating: 1-3 High pass $ — $ 27 $ 22 $ 4 $ — $ — $ 1,304 $ — $ 1,357 4-6 Pass 26,468 71,523 207,751 23,390 42,338 63,919 7,684 345 443,418 7 Special mention — 1,286 4,224 371 1,100 181 30 — 7,192 8-9 Classified — 281 42 135 198 486 1 16 1,159 Total $ 26,468 $ 73,117 $ 212,039 $ 23,900 $ 43,636 $ 64,586 $ 9,019 $ 361 $ 453,126 Current YTD period: Gross charge-offs $ — $ 432 $ 540 $ 76 $ 255 $ 1,081 $ 1 $ 12 $ 2,397 Total Loans and Leases Internal risk rating: 1-3 High pass $ 33,216 $ 287,437 $ 386,182 $ 117,303 $ 194,718 $ 435,411 $ 300,907 $ (140) $ 1,755,034 4-6 Pass 873,410 7,191,673 6,440,927 1,619,579 976,138 2,882,938 2,917,653 90,606 22,992,924 7 Special mention 19,229 76,571 96,938 38,611 78,581 170,755 27,554 5,073 513,312 8-9 Classified 4,596 19,456 68,224 12,780 45,103 68,476 8,590 1,192 228,417 Total $ 930,451 $ 7,575,137 $ 6,992,271 $ 1,788,273 $ 1,294,540 $ 3,557,580 $ 3,254,704 $ 96,731 $ 25,489,687 Current YTD period: Gross charge-offs $ 3,436 $ 33,088 $ 8,708 $ 876 $ 359 $ 15,345 $ 1,023 $ 593 $ 63,428 ____________________ (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 March 31, 2024 Loan Modifications Balances (Amortized Cost Basis) at March 31, 2024 Term Extension % of Loan Portfolio Balance Class (Dollars in thousands) Real estate mortgage: Commercial $ 1,250 — % Other residential 1,837 — % Commercial: Other commercial 2,827 0.1 % Total $ 5,914 Three Months Ended March 31, 2023 Loan Modifications Balances (Amortized Cost Basis) at March 31, 2023 Combination - Term Extension and Combination - Term Interest Rate 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 $ 12,716 0.2 % $ — — % $ — — % $ — — % $ 12,716 0.2 % Commercial: Venture capital — — % — — % — — % 613 — % 613 — % Other commercial 2,057 0.2 % 45 — % — — % — — % 2,102 0.2 % Consumer — — % — — % 3 — % — — % 3 — % Total $ 14,773 $ 45 $ 3 $ 613 $ 15,434 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 March 31, 2024 Term Extension - Financial Effect Real estate mortgage: Commercial Extended maturity by a weighted average 5 months. Other residential Extended maturity by a weighted average 12 months. Commercial: Other commercial Extended maturity by a weighted average 3 months. Three Months Ended March 31, 2023 Term Extension - Financial Effect Real estate mortgage: Other residential Extended maturity by a weighted average seven months. Commercial: Other commercial Extended maturity by a weighted average 12 months. Three Months Ended March 31, 2023 Payment Delay - Financial Effect Commercial: Other commercial Provided six months of reduced payments to borrowers without extending the loan term. Three Months Ended March 31, 2023 Combination - Term Extension and Interest Rate Reduction - Financial Effect Consumer Extended maturity by a weighted average 2 years and reduced weighted average contractual interest rate from 9.5% to 2.0%. Three Months Ended March 31, 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 12 months with related amortized cost balances as of the date indicated: Payment Status (Amortized Cost Basis) at March 31, 2024 30-89 Days 90 or More Days Current Past Due Past Due Total (In thousands) Real estate mortgage: Commercial $ 2,250 $ — $ — $ 2,250 Other residential 2,953 90 1,715 4,758 Commercial: Other commercial 4,910 — — 4,910 Consumer 13 — — 13 Total $ 10,126 $ 90 $ 1,715 $ 11,931 During the three months ended March 31, 2024, there were $2.2 million of other residential real estate loans modified in the form of a term extension during the preceding 12-month period that subsequently defaulted. Leases Receivable We provide equipment financing to our customers primarily with operating and direct financing leases. For direct financing leases, lease receivables are recorded on the balance sheet but the leased equipment is not, although we generally retain legal title to the leased equipment until the end of each lease. Direct financing leases are stated at the net amount of minimum lease payments receivable, plus any unguaranteed residual value, less the amount of unearned income and net acquisition discount at the reporting date. Direct lease origination costs are amortized using the effective interest method over the life of the leases. Direct financing leases are subject to our accounting for allowance for loan and lease losses. See Note 7. Leases for information regarding operating leases where we are the lessor. The following table provides the components of leases receivable income for the periods indicated: Three Months Ended March 31, 2024 2023 (In thousands) Component of leases receivable income: Interest income on net investments in leases $ 4,735 $ 3,749 The following table presents the components of leases receivable as of the dates indicated: March 31, 2024 December 31, 2023 (In thousands) Net Investment in Direct Financing Leases: Lease payments receivable $ 249,900 $ 249,223 Unguaranteed residual assets 25,915 25,488 Deferred costs and other 2,602 2,715 Aggregate net investment in leases $ 278,417 $ 277,426 The following table presents maturities of leases receivable as of the date indicated: March 31, 2024 (In thousands) Period ending December 31, 2024 $ 65,235 2025 74,910 2026 56,555 2027 37,965 2028 22,188 Thereafter 24,315 Total undiscounted cash flows 281,168 Less: Unearned income (31,268) Present value of lease payments $ 249,900 Allowance for Loan and Lease Losses The following tables present a summary of the activity in the allowance for loan and lease losses on loans and leases held for investment by loan portfolio segment for the periods indicated: Three Months Ended March 31, 2024 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of period $ 186,827 $ 33,830 $ 45,156 $ 15,874 $ 281,687 Charge-offs (2,477) — (704) (1,833) (5,014) Recoveries 891 — 2,869 70 3,830 Net (charge-offs) recoveries (1,586) — 2,165 (1,763) (1,184) Provision 13,033 (3,819) (267) 2,053 11,000 Balance, end of period $ 198,274 $ 30,011 $ 47,054 $ 16,164 $ 291,503 Ending Allowance by Evaluation Methodology: Individually evaluated $ 8,336 $ — $ 7 $ — $ 8,343 Collectively evaluated $ 189,938 $ 30,011 $ 47,047 $ 16,164 $ 283,160 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 129,116 $ — $ 14,919 $ 4 $ 144,039 Collectively evaluated 15,838,283 3,245,354 5,805,648 439,698 25,328,983 Ending balance $ 15,967,399 $ 3,245,354 $ 5,820,567 $ 439,702 $ 25,473,022 Three Months Ended March 31, 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 (9,835) — (137) (425) (10,397) Recoveries 200 — 975 45 1,220 Net (charge-offs) recoveries (9,635) — 838 (380) (9,177) Provision 31,809 2,714 (16,492) 469 18,500 Balance, end of period $ 109,483 $ 55,034 $ 37,195 $ 8,343 $ 210,055 Ending Allowance by Evaluation Methodology: Individually evaluated $ — $ — $ — $ — $ — Collectively evaluated $ 109,483 $ 55,034 $ 37,195 $ 8,343 $ 210,055 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 82,835 $ — $ 2,616 $ — $ 85,451 Collectively evaluated 15,324,776 4,608,440 5,226,491 427,223 25,586,930 Ending balance $ 15,407,611 $ 4,608,440 $ 5,229,107 $ 427,223 $ 25,672,381 The allowance for loan and lease losses increased by $9.8 million in the first quarter of 2024 to $291.5 million due primarily to an $11.0 million provision, offset partially by net charge-offs of $1.2 million. For additional information regarding the calculation of the allowance for loan and lease losses using the CECL methodology, including 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: March 31, 2024 December 31, 2023 Real Business Real Business Property Assets Consumer Total Property Assets Total (In thousands) Real estate mortgage $ 130,567 $ — $ — $ 130,567 $ 47,952 $ — $ 47,952 Commercial — 3,153 — 3,153 — 3,616 3,616 Consumer — — 4 4 — — — Total $ 130,567 $ 3,153 $ 4 $ 133,724 $ 47,952 $ 3,616 $ 51,568 Allowance for Credit Losses The allowance for credit losses is the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments. The reserve for unfunded loan commitments is included within "Accrued interest payable and other liabilities" on the condensed consolidated balance sheets. The following tables present a summary of the activity in the allowance for loan and lease losses and reserve for unfunded loan commitments for the periods indicated: Three Months Ended March 31, 2024 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of period $ 281,687 $ 29,571 $ 311,258 Charge-offs (5,014) — (5,014) Recoveries 3,830 — 3,830 Net charge-offs (1,184) — (1,184) Provision 11,000 (1,000) 10,000 Balance, end of period $ 291,503 $ 28,571 $ 320,074 Three Months Ended March 31, 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 (10,397) — (10,397) Recoveries 1,220 — 1,220 Net charge-offs (9,177) — (9,177) Provision 18,500 (15,500) 3,000 Balance, end of period $ 210,055 $ 75,571 $ 285,626 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 3 Months Ended |
Mar. 31, 2024 | |
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. 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 March 31, 2024 2023 (In thousands) Gross Amount of CDI and CRI: Balance, beginning of period $ 236,264 $ 91,550 Fully amortized portion — (750) Balance, end of period 236,264 90,800 Accumulated Amortization: Balance, beginning of period (70,787) (60,169) Amortization expense (8,251) (2,411) Fully amortized portion — 750 Balance, end of period (79,038) (61,830) Net CDI and CRI, end of period $ 157,226 $ 28,970 The following table presents the estimated aggregate future amortization expense for our current CDI and CRI as of the date indicated: March 31, 2024 (In thousands) Period ending December 31, 2024 $ 24,282 2025 27,657 2026 24,412 2027 21,166 2028 17,920 Thereafter 41,789 Net CDI and CRI $ 157,226 |
Other Assets
Other Assets | 3 Months Ended |
Mar. 31, 2024 | |
Other Assets [Abstract] | |
Other Assets | OTHER ASSETS The following table presents the detail of our other assets as of the dates indicated: March 31, December 31, Other Assets 2024 2023 (In thousands) LIHTC investments $ 335,584 $ 347,478 Interest receivable 138,258 138,522 Operating lease ROU assets, net (1) 125,383 133,126 SBIC investments 112,982 105,433 Equity investments without readily determinable fair values 71,392 71,332 Prepaid expenses 43,412 43,498 Taxes receivable 26,090 34,268 HLBV investments 18,112 18,442 Foreclosed assets, net 12,488 7,394 Equity warrants (2) 3,708 3,689 Equity investments with readily determinable fair values 1 1 Other receivables/assets 206,973 228,066 Total other assets $ 1,094,383 $ 1,131,249 ____________________ (1) See Note 7. Leases for further details regarding the operating lease ROU assets. (2) See Note 9. Derivatives for information regarding equity warrants. |
Stock-Based Compensation | STOCKHOLDERS' EQUITY Stock-Based Compensation At the special meeting of stockholders held on November 22, 2023, the Company's stockholders approved the Amended and Restated Banc of California, Inc. 2018 Stock Incentive Plan (the “Amended and Restated 2018 Plan”). The Company’s Amended and Restated 2018 Plan permits stock-based compensation awards to officers, directors, employees, and consultants and will remain in effect until November 30, 2033. The Amended and Restated 2018 Plan authorizes grants of stock-based compensation instruments to purchase or issue up to 8,789,197 shares. As of March 31, 2024, there wer e 6,983,382 shares available for grant under the Amended and Restated 2018 Plan. In addition to the Amended and Restated 2018 Plan, in connection with the Merger, the Company assumed the Amended and Restated PacWest Bancorp 2017 Stock Incentive Plan (the "PacWest 2017 Plan") with respect to PacWest's outstanding stock-based awards. Restricted Stock Restricted stock amortization totaled $4.4 million and $5.0 million for the three months ended March 31, 2024 and 2023. Such amounts are included in "Compensation expense" on the condensed consolidated statements of earnings (loss). The amount of unrecognized compensation expense related to all unvested RSUs, TRSAs, and PRSUs as of March 31, 2024 totaled $46.1 million. Time-Based Restricted Stock Awards At March 31, 2024, there were 1,825,307 shares of unvested RSUs outstanding pursuant to the Amended and Restated 2018 Plan. At March 31, 2024, there were 781,815 sh ar es of unvested TRSAs outstanding pursuant to the PacWest 2017 Plan. The RSUs and TRSAs generally vest over a service period of three Performance-Based Restricted Stock Units At March 31, 2024, there were 296,614 units of unvested PRSUs that have been granted. Compensation expense related to PRSUs is based on the fair value of the underlying stock on the award date and is amortized over the vesting period using the straight-line method unless it is determined that: (1) attainment of the financial metrics is less than probable, in which case a portion of the amortization is suspended, or (2) attainment of the financial metrics is improbable, in which case a portion of the previously recognized amortization is reversed and also suspended. Annual PRSU expense may vary during the 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 PRSUs 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. Classes of Stock and Equity Instruments Preferred Stock Depositary shares each representing 1/40th of a share of 7.75% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series F (“Series F Preferred Stock”) are listed on the NYSE under the symbol “BANC/PF.” The Series F Preferred Stock ranks senior to our common stock and common stock equivalents both as to dividends and liquidation preference but generally have no voting rights. There are 50,000,000 total preferred shares authorized, of which 27,000,000 were authorized for the non-voting common stock equivalents (“NVCE”) and 513,250 were authorized and outstanding for the Series F Preferred stock at March 31, 2024 and December 31, 2023. Common Stock Our voting common stock is listed on the NYSE under the symbol “BANC” and there were 446,863,844 shares authorized at March 31, 2024 and December 31, 2023 and 157,608,893 shares outstanding at March 31, 2024 and 156,790,349 shares outstanding at December 31, 2023. Class B Non-Voting Common Stock Our Class B non-voting common stock is not listed or traded on any national securities exchange or automated quotation system, and there currently is no established trading market for such stock. The Class B non-voting common stock ranks equally with, and has identical rights, preferences and privileges as the voting common stock with respect to dividends and liquidation preference but generally have no voting rights. There were 3,136,156 shares authorized at March 31, 2024 and December 31, 2023 and 477,321 shares outstanding at March 31, 2024 and 477,321 shares outstanding at December 31, 2023. Non-Voting Common Stock Equivalents In conjunction with the Merger, the Company issued a new class of NVCE from authorized preferred stock, which were issued under the Investment Agreements (as defined below). Our NVCE stock is not listed or traded on any national securities exchange or automated quotation system, and there currently is no established trading market for such stock. The NVCE stock does not have voting rights and ranks equally with, and has identical rights, preferences and privileges as the voting common stock with respect to dividends or distributions (including regular quarterly dividends) declared by the Board and rights upon any liquidation, dissolution, winding up or similar proceeding of the Company. There were 27,000,000 shares authorized at March 31, 2024 and December 31, 2023 and 10,145,600 shares outstanding at March 31, 2024 and 10,829,990 shares outstanding at December 31, 2023. Warrants In conjunction with the Merger and per the terms of the investment agreements, each dated July 25, 2023, entered into by Banc of California, Inc. with the Warburg Investors (such agreement, the "Warburg Investment Agreement") and the Centerbridge Investor (together with the Warburg Investment Agreement, the "Investment Agreements"), respectively, the Warburg Investors received warrants to purchase 15,853,659 shares of NVCE stock, and the Centerbridge Investor received warrants to purchase 3,048,780 shares of voting common stock (the “Centerbridge Warrants”), each with an initial exercise price of $15.375 per share, subject to customary anti-dilution adjustments provided for under the warrant agreements. The warrants carry a term of seven years but are subject to mandatory exercise when the market price of the voting common stock reaches or exceeds $24.60 for 20 or more trading days during any 30-consecutive trading day period. These warrants are being accounted for as equity. The exercise price of the Centerbridge Warrants will be adjusted downward, per the terms of the agreement, for cash distributions to stockholders of the Company's voting common stock, including the Company's quarterly cash dividend. |
Leases
Leases | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 (In thousands) Operating lease expense: Fixed costs $ 9,435 $ 7,748 Variable costs 48 35 Short-term lease costs 66 357 Sublease income (1,196) (712) Net lease expense $ 8,353 $ 7,428 The following table presents supplemental cash flow information related to leases for the periods indicated: Three Months Ended March 31, 2024 2023 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 7,746 $ 8,963 ROU assets obtained in exchange for lease obligations: Operating leases $ 1,183 $ 2,196 The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated: March 31, December 31, 2024 2023 (Dollars in thousands) Operating leases: Operating lease right-of-use assets, net $ 125,383 $ 133,126 Operating lease liabilities $ 153,298 $ 161,308 Weighted average remaining lease term (in years) 6.0 6.1 Weighted average discount rate 3.41 % 3.40 % The following table presents the maturities of operating lease liabilities as of the date indicated: March 31, 2024 (In thousands) Period ending December 31, 2024 $ 30,606 2025 34,841 2026 28,152 2027 20,386 2028 16,248 Thereafter 41,304 Total operating lease liabilities 171,537 Less: Imputed interest (18,239) Present value of operating lease liabilities $ 153,298 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 (loss). The equipment is tested periodically for impairment. No impairment was recorded on "Equipment leased to others under operating leases" during the three months ended March 31, 2024 and 2023. The following table presents the rental payments to be received on operating leases as of the date indicated: March 31, 2024 (In thousands) Year Ending December 31, 2024 $ 34,210 2025 39,965 2026 35,321 2027 28,349 2028 24,223 Thereafter 64,371 Total undiscounted cash flows $ 226,439 |
Borrowings and Subordinated Deb
Borrowings and Subordinated Debentures | 3 Months Ended |
Mar. 31, 2024 | |
Debt Disclosure [Abstract] | |
Borrowings and Subordinated Debentures | BORROWINGS AND SUBORDINATED DEBT Borrowings The following table summarizes our borrowings as of the dates indicated: March 31, 2024 December 31, 2023 Weighted Weighted Average Average Balance Rate Balance Rate (Dollars in thousands) Bank Term Funding Program $ 1,545,000 5.40 % $ 2,618,300 4.37 % Senior notes 174,000 5.25 % 174,000 5.25 % Credit-linked notes 123,824 16.03 % 123,116 16.02 % FHLB secured advances 300,000 4.45 % — — % Total borrowings 2,142,824 5.87 % 2,915,416 4.92 % Acquisition discount on senior notes (3,326) (4,094) Total borrowings, net $ 2,139,498 $ 2,911,322 The Bank has established secured and unsecured lines of credit under which it may borrow funds from time to time on a term or overnight basis from the FHLB, the FRBSF, and other financial institutions. FHLB Secured Line of Credit. The Bank had secured financing capacity with the FHLB as of March 31, 2024 of $6.3 billion, collateralized by a blanket lien on $10.2 billion of qualifying loans and $20.1 million of securities. As of March 31, 2024, there were $307.4 million in letters of credit pledged and $300.0 million outstanding, which consisted of two $150.0 million advances that both mature in March 2026. As of December 31, 2023, there were $243.8 million in letters of credit pledged but no balance outstanding. FRBSF Secured Line of Credit. The Bank has a secured line of credit with the FRBSF. As of March 31, 2024, the Bank had secured borrowing capacity of $6.9 billion collateralized by liens covering $7.7 billion of qualifying loans and $1.0 billion of securities. As of March 31, 2024 and December 31, 2023, 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 March 31, 2024, the Bank had secured borrowing capacity of $1.5 billion collateralized by the par value of pledged securities totaling $1.6 billion. As of March 31, 2024, the balance outstanding was $1.5 billion consisting of one term advance maturing in March 2025. As of December 31, 2023, the balance outstanding was $2.6 billion consisting of two term advances maturing in March 2024. Federal Funds Arrangements with Commercial Banks. As of March 31, 2024, the Bank had unsecured lines of credit of $290.0 million in the aggregate with several correspondent banks for the purchase of overnight funds, subject to availability of funds. These lines are renewable annually and have no unused commitment fees. As of March 31, 2024 and December 31, 2023, there were no balances outstanding. The Bank is a member of the AFX, through which it may either borrow or lend funds on an overnight or short-term basis with a group of pre-approved commercial banks. The availability of funds changes daily. As of March 31, 2024 and December 31, 2023 there was no balance outstanding. Senior Notes. The Senior Notes are unsecured debt obligations and rank equally with our other present and future unsecured unsubordinated obligations. We make interest payments on the Senior Notes semi-annually in arrears. We have the option to redeem the Senior Notes either in whole or in part on or after January 15, 2025 (i.e., 90 days prior to the maturity date). Notification of no less than 30 nor more than 60 days is required for redemption. The Senior Notes will be redeemable at a price equal to 100% of the principal amount of the Senior Notes to be redeemed plus accrued and unpaid interest to the date of redemption. 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 March 31, 2024. The notes are linked to the credit risk of an approximately $2.46 billion reference pool of previously purchased single-family residential mortgage loans at March 31, 2024. 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 $123.8 million at March 31, 2024. See Note 11. Fair Value Option for additional information. Subordinated Debt The following table summarizes the terms of each issuance of subordinated debt outstanding as of the dates indicated: March 31, 2024 December 31, 2023 Date Maturity Rate Index Series Balance Rate (1) Balance Rate (1) Issued Date (Quarterly Reset) (Dollars in thousands) Subordinated notes, net (2) $ 380,783 3.25 % $ 380,651 3.25 % 4/30/2021 5/1/2031 Fixed rate (3) Subordinated notes 75,000 4.375 % 75,000 4.375 % 10/30/2020 10/30/2030 Fixed rate (6) Trust V 10,310 8.69 % 10,310 8.74 % 8/15/2003 9/17/2033 3-month Term SOFR + 3.10 Trust VI 10,310 8.64 % 10,310 8.70 % 9/3/2003 9/15/2033 3-month Term SOFR + 3.05 Trust CII 5,155 8.54 % 5,155 8.59 % 9/17/2003 9/17/2033 3-month Term SOFR + 2.95 Trust VII 61,856 8.33 % 61,856 8.40 % 2/5/2004 4/23/2034 3-month Term SOFR + 2.75 Trust CIII 20,619 7.28 % 20,619 7.34 % 8/15/2005 9/15/2035 3-month Term SOFR + 1.69 Trust FCCI 16,495 7.19 % 16,495 7.25 % 1/25/2007 3/15/2037 3-month Term SOFR + 1.60 Trust FCBI 10,310 7.14 % 10,310 7.20 % 9/30/2005 12/15/2035 3-month Term SOFR + 1.55 Trust CS 2005-1 82,475 7.54 % 82,475 7.60 % 11/21/2005 12/15/2035 3-month Term SOFR + 1.95 Trust CS 2005-2 128,866 7.53 % 128,866 7.60 % 12/14/2005 1/30/2036 3-month Term SOFR + 1.95 Trust CS 2006-1 51,545 10.45 % 51,545 10.45 % 2/22/2006 4/30/2036 Prime + 1.95 Trust CS 2006-2 51,550 7.53 % 51,550 7.60 % 9/27/2006 10/30/2036 3-month Term SOFR + 1.95 Trust CS 2006-3 (4) 27,811 5.94 % 28,453 6.00 % 9/29/2006 10/30/2036 3-month EURIBOR + 2.05 Trust CS 2006-4 16,470 10.55 % 16,470 10.45 % 12/5/2006 1/30/2037 Prime + 1.95 Trust CS 2006-5 6,650 7.53 % 6,650 7.60 % 12/19/2006 1/30/2037 3-month Term SOFR + 1.95 Trust CS 2007-2 39,177 7.53 % 39,177 7.60 % 6/13/2007 7/30/2037 3-month Term SOFR + 1.95 PMB Statutory Trust III 7,217 8.97 % 7,217 9.02 % 9/16/2002 9/26/2032 3-month Term SOFR + 3.40 PMB Capital Trust III 10,310 7.60 % 10,310 7.66 % 10/4/2004 10/8/2034 3-month Term SOFR + 2.00 Total subordinated debt 1,012,909 5.90 % 1,013,419 5.93 % Acquisition discount (5) (75,192) (76,820) Net subordinated debt $ 937,717 $ 936,599 ___________________ (1) Rates do not include the effects of discounts and issuance costs. (2) Net of unamortized issuance costs of $4.2 million. (3) Interest rate is fixed until May 1, 2026, when it changes to a floating rate and resets quarterly at a benchmark rate plus 252 basis points. (4) Denomination is in Euros with a value of €25.8 million. (5) Amount represents the fair value adjustment on trust preferred securities assumed in acquisitions. (6) Interest rate is fixed until October 30, 2025, when it changes to a floating rate equal to a benchmark rate, which is expected to be 3-month Term SOFR, plus a spread of 419.5 basis points. |
Derivatives
Derivatives | 3 Months Ended |
Mar. 31, 2024 | |
Derivatives [Abstract] | |
Derivatives | DERIVATIVES To a limited extent, the Company utilizes interest rate swaps contracts with clients and counterparty banks for the purpose of offsetting or hedging exposures arising out of lending and borrowing transactions. The Company offers borrowers interest rate swaps under a "back-to-back" loan hedging program and offsets these "pay floating/receive fixed" contracts with borrowers with "receive floating/pay fixed" swaps with counterparty banks. The total notional balance of these offsetting hedging contracts was $167.0 million at March 31, 2024. The Company has also hedged the interest rate risk and foreign currency risk on €25.8 million of subordinated debt utilizing a combined cross currency swap/interest rate swap, which has had the effect of hedging the foreign currency risk and fixing the Euribor-based floating rate instrument at a fixed rate of 2.76% through July 2025. The outputs from the Company's NII simulation analysis and MVE modeling reflect the impact of these interest rate/currency swaps, however, the impact is not material. Our derivatives are carried at fair value and recorded in "Other assets" or "Accrued interest payable and other liabilities," as appropriate, in the consolidated balance sheets. For derivatives not designated as hedging instruments, the changes in fair value of our derivatives and the related fees are recognized in "Noninterest income - other" in the condensed consolidated statements of earnings (loss). For the three months ended March 31, 2024, changes in fair value and fees recorded to noninterest income in the condensed consolidated statements of earnings (loss) were immaterial. See Note 6. Other Assets for additional information regarding equity warrant assets. Included in the interest rate contracts in the table below are pay-fixed, receivable-variable interest rate swap contracts classified as cash flow hedges with notional amounts aggregating $300.0 million, five year terms, and varying maturity dates throughout 2028. These swap contracts were entered into with institutional counterparties to hedge against variability in cash flow attributable to interest rate risk on a portion of the Company's variable rate deposits and borrowings. The cash flow hedges were deemed highly effective at inception and thereafter. For derivatives designated as cash flow hedges, the portion of changes in fair value considered to be highly effective are reported as a component of "Accumulated other comprehensive loss, net" on the consolidated balance sheets until the related cash flows from the hedged items are recognized in earnings. As of March 31, 2024, the fair value of the cash flow hedges represented an asset of $1.7 million, related to which $0.3 million (net of tax) was included in "Accumulated other comprehensive loss, net." The following table presents the U.S. dollar notional amounts and fair values of our derivative instruments included in the condensed consolidated balance sheets as of the dates indicated: March 31, 2024 December 31, 2023 Notional Fair Notional Fair Amount Value Amount Value (In thousands) Derivative Assets: Interest rate contracts $ 466,990 $ 9,035 $ 168,850 $ 6,426 Foreign exchange contracts 42,417 1,170 45,742 1,883 Interest rate and economic contracts 509,407 10,205 214,592 8,309 Equity warrant assets 16,944 3,708 17,008 3,869 Total $ 526,351 $ 13,913 $ 231,600 $ 12,178 Derivative Liabilities: Interest rate contracts $ 166,990 $ 7,262 $ 468,850 $ 10,421 Foreign exchange contracts 42,417 75 45,742 128 Total $ 209,407 $ 7,337 $ 514,592 $ 10,549 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 | 3 Months Ended |
Mar. 31, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES The following table presents a summary of commitments described below as of the dates indicated: March 31, December 31, 2024 2023 (In thousands) Loan commitments to extend credit $ 5,482,672 $ 5,578,907 Standby letters of credit 248,485 252,572 Total $ 5,731,157 $ 5,831,479 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 $28.6 million at March 31, 2024 and $29.6 million at December 31, 2023. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. We provide standby letters of credit in conjunction with several of our lending arrangements and property lease obligations. Most guarantees expire within one year from the date of issuance. If a borrower defaults on its commitments subject to any letter of credit issued under these arrangements, we would be required to meet the borrower's financial obligation but would seek repayment of that financial obligation from the borrower. In some cases, borrowers have pledged cash and investment securities as collateral under these arrangements. In addition, we invest in SBICs that call for capital contributions up to an amount specified in the partnership agreements, and in CRA-related loan pools. As of March 31, 2024 and December 31, 2023, we had commitments to contribute capital to these entities totaling $72.9 million and $94.5 million. The following table presents the years in which commitments are expected to be paid for our commitments to contribute capital to SBICs and CRA-related loan pools as of the date indicated: March 31, 2024 (In thousands) Period ending December 31, 2024 $ 36,445 2025 36,444 Total $ 72,889 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 | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024, the fair value of these investments was $113.0 million. The following tables present information on the assets and liabilities measured and recorded at fair value on a recurring basis as of the dates indicated: Fair Value Measurements as of March 31, 2024 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available-for-sale: Agency residential MBS $ 1,137,469 $ — $ 1,137,469 $ — Agency commercial MBS 243,387 — 243,387 — Agency residential CMOs 281,569 — 281,569 — Municipal securities 33,259 — 33,259 — Corporate debt securities 277,198 — 275,098 2,100 Private label residential CMOs 153,412 — 153,412 — Collateralized loan obligations 109,078 — 109,078 — Private label commercial MBS 19,491 — 19,491 — Asset-backed securities 18,908 — 18,908 — SBA securities 12,911 — 12,911 — Total securities available-for-sale $ 2,286,682 $ — $ 2,284,582 $ 2,100 Equity investments with readily determinable fair values $ 1 $ 1 $ — $ — Derivatives (1) : Equity warrants 3,708 — — 3,708 Interest rate and economic contracts 10,205 — 10,205 — Derivative liabilities 7,337 — 7,337 — Credit-linked notes 123,824 — — 123,824 Fair Value Measurements as of December 31, 2023 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available-for-sale: Agency residential MBS $ 1,187,609 $ — $ 1,187,609 $ — U.S. Treasury securities 4,968 4,968 — — Agency commercial MBS 253,306 — 253,306 — Agency residential CMOs 284,334 — 284,334 — Municipal securities 28,083 — 28,083 — Corporate debt securities 267,232 — 226,983 40,249 Private label residential CMOs 158,412 — 158,412 — Collateralized loan obligations 108,416 — 108,416 — Private label commercial MBS 20,813 — 20,813 — Asset-backed securities 19,952 — 19,952 — SBA securities 13,739 — 13,739 — Total securities available-for-sale $ 2,346,864 $ 4,968 $ 2,301,647 $ 40,249 Equity investments with readily determinable fair values $ 1 $ 1 $ — $ — Derivatives (1) : Equity warrants 3,689 — — 3,689 Interest rate and economic contracts 8,309 — 8,309 — Derivative liabilities 10,549 — 10,549 — Credit-linked notes 123,116 — — 123,116 ____________________ (1) For information regarding derivative instruments, see Note 9. Derivatives . During the three months ended March 31, 2024, there was a $2,000 transfer from Level 3 equity warrants to Level 1 equity investments with readily determinable fair values measured on a recurring basis. There was also a $38.1 million transfer of corporate debt securities from Level 3 to Level 2 during the three months ended March 31, 2024. 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: March 31, 2024 Corporate Debt Securities Input or Weighted Range Average Unobservable Inputs of Inputs Input (1) Spread to 10 Year Treasury 6.3% - 8.8% 7.6% Discount rates 10.5% - 13.0% 11.8% ____________________ (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: March 31, 2024 Equity Warrants Weighted Range Average Unobservable Inputs of Inputs Input (1) Volatility 19.0% - 196.9% 26.7% Risk-free interest rate 4.2% - 5.5% 4.5% Remaining life assumption (in years) 0.08 - 4.97 3.24 ____________________ (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, 2023 $ 40,249 $ 3,689 $ 123,116 Total included in earnings — 178 348 Total included in other comprehensive income — — 1,251 Issuances — 115 — Principal payments — — (891) Transfer to Level 2 (38,149) — — Exercises and settlements — (272) — Transfers to Level 1 (equity investments with readily determinable fair values) — (2) — Balance, March 31, 2024 $ 2,100 $ 3,708 $ 123,824 Unrealized net gains (losses) for the period included in other comprehensive income for securities held at quarter-end $ (900) The following tables present assets measured at fair value on a non-recurring basis as of the dates indicated: Fair Value Measurement as of March 31, 2024 Measured on a Non-Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases $ 5,639 $ — $ 2,602 $ 3,037 OREO 2,511 — 2,511 — Total non-recurring $ 8,150 $ — $ 5,113 $ 3,037 Fair Value Measurement as of December 31, 2023 Measured on a Non-Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases $ 6,402 $ — $ 4,051 $ 2,351 OREO 3,422 — 3,422 — Total non-recurring $ 9,824 $ — $ 7,473 $ 2,351 The following table presents losses recognized on assets measured on a nonrecurring basis for the periods indicated: Three Months Ended Losses on Assets March 31, Measured on a Non-Recurring Basis 2024 2023 (In thousands) Individually evaluated loans and leases $ 832 $ 4,911 OREO 297 — Total losses $ 1,129 $ 4,911 The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis as of the date indicated: March 31, 2024 Valuation Unobservable Input or Weighted Asset Fair Value Technique Inputs Range Average (In thousands) Individually evaluated loans and leases 3,037 Third-party appraisals No discounts Total non-recurring Level 3 $ 3,037 The following tables present carrying amounts and estimated fair values of certain financial instruments as of the dates indicated: March 31, 2024 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 199,922 $ 199,922 $ 199,922 $ — $ — Interest-earning deposits in financial institutions 2,885,306 2,885,306 2,885,306 — — Securities available-for-sale 2,286,682 2,286,682 — 2,284,582 2,100 Securities held-to-maturity 2,291,984 2,153,349 172,338 1,963,818 17,193 Investment in FRB and FHLB stock 129,314 129,314 — 129,314 — Loans held for sale 80,752 82,383 — 82,383 — Loans and leases held for investment, net 25,181,519 23,553,410 — 2,602 23,550,808 Equity investments with readily determinable fair values 1 1 1 — — Equity warrants 3,708 3,708 — — 3,708 Interest rate and economic contracts 10,205 10,205 — 10,205 — Servicing rights 21,384 22,242 — — 22,242 Financial Liabilities: Demand, checking, money market, and savings deposits 22,706,213 22,706,213 — 22,706,213 — Time deposits 6,186,194 6,260,651 — 6,260,651 — Borrowings 2,139,498 2,135,757 — 2,011,933 123,824 Subordinated debt 937,717 850,984 — 850,984 — Derivative liabilities 7,337 7,337 — 7,337 — December 31, 2023 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 202,427 $ 202,427 $ 202,427 $ — $ — Interest-earning deposits in financial institutions 5,175,149 5,175,149 5,175,149 — — Securities available-for-sale 2,346,864 2,346,864 4,968 2,301,647 40,249 Securities held-to-maturity 2,287,291 2,168,316 175,579 1,976,015 16,722 Investment in FRB and FHLB stock 126,346 126,346 — 126,346 — Loans held for sale 122,757 126,646 — 126,646 — Loans and leases held for investment, net 25,208,000 23,551,725 — 4,051 23,547,674 Equity investments with readily determinable fair values 1 1 1 — — Equity warrants 3,689 3,689 — — 3,689 Interest rate and economic contracts 8,309 8,309 — 8,309 — Servicing rights 22,174 22,174 — — 22,174 Financial Liabilities: Demand, checking, money market, and savings deposits 23,768,896 23,768,896 — 23,768,896 — Time deposits 6,632,873 6,732,246 — 6,732,246 — Borrowings 2,911,322 2,908,527 — 2,785,411 123,116 Subordinated debt 936,599 851,625 — 851,625 — Derivative liabilities 10,549 10,549 — 10,549 — Limitations Fair value estimates are made at a specific point in time and are based on relevant market information and information about the financial instrument. These estimates do not reflect income taxes or any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a portion of the Company’s financial instruments, fair value estimates are based on what management believes to be reasonable judgments regarding expected future cash flows, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimated fair values are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Since the fair values have been estimated as of March 31, 2024, 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 March 31, Credit-Linked Notes 2024 2023 (In thousands) Changes in fair value - losses (gains) included in earnings $ 348 $ (1,998) Changes in fair value - other comprehensive loss $ 1,251 $ — The following table provides information about the credit-linked notes carried at fair value as of the dates indicated: March 31, December 31, Credit-Linked Notes 2024 2023 (In thousands) Carrying value reported on the consolidated balance sheets $ 123,824 $ 123,116 Aggregate unpaid principal balance (less than) in excess of fair value $ (120) $ 1,479 |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024, the fair value of these investments was $113.0 million. The following tables present information on the assets and liabilities measured and recorded at fair value on a recurring basis as of the dates indicated: Fair Value Measurements as of March 31, 2024 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available-for-sale: Agency residential MBS $ 1,137,469 $ — $ 1,137,469 $ — Agency commercial MBS 243,387 — 243,387 — Agency residential CMOs 281,569 — 281,569 — Municipal securities 33,259 — 33,259 — Corporate debt securities 277,198 — 275,098 2,100 Private label residential CMOs 153,412 — 153,412 — Collateralized loan obligations 109,078 — 109,078 — Private label commercial MBS 19,491 — 19,491 — Asset-backed securities 18,908 — 18,908 — SBA securities 12,911 — 12,911 — Total securities available-for-sale $ 2,286,682 $ — $ 2,284,582 $ 2,100 Equity investments with readily determinable fair values $ 1 $ 1 $ — $ — Derivatives (1) : Equity warrants 3,708 — — 3,708 Interest rate and economic contracts 10,205 — 10,205 — Derivative liabilities 7,337 — 7,337 — Credit-linked notes 123,824 — — 123,824 Fair Value Measurements as of December 31, 2023 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available-for-sale: Agency residential MBS $ 1,187,609 $ — $ 1,187,609 $ — U.S. Treasury securities 4,968 4,968 — — Agency commercial MBS 253,306 — 253,306 — Agency residential CMOs 284,334 — 284,334 — Municipal securities 28,083 — 28,083 — Corporate debt securities 267,232 — 226,983 40,249 Private label residential CMOs 158,412 — 158,412 — Collateralized loan obligations 108,416 — 108,416 — Private label commercial MBS 20,813 — 20,813 — Asset-backed securities 19,952 — 19,952 — SBA securities 13,739 — 13,739 — Total securities available-for-sale $ 2,346,864 $ 4,968 $ 2,301,647 $ 40,249 Equity investments with readily determinable fair values $ 1 $ 1 $ — $ — Derivatives (1) : Equity warrants 3,689 — — 3,689 Interest rate and economic contracts 8,309 — 8,309 — Derivative liabilities 10,549 — 10,549 — Credit-linked notes 123,116 — — 123,116 ____________________ (1) For information regarding derivative instruments, see Note 9. Derivatives . During the three months ended March 31, 2024, there was a $2,000 transfer from Level 3 equity warrants to Level 1 equity investments with readily determinable fair values measured on a recurring basis. There was also a $38.1 million transfer of corporate debt securities from Level 3 to Level 2 during the three months ended March 31, 2024. 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: March 31, 2024 Corporate Debt Securities Input or Weighted Range Average Unobservable Inputs of Inputs Input (1) Spread to 10 Year Treasury 6.3% - 8.8% 7.6% Discount rates 10.5% - 13.0% 11.8% ____________________ (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: March 31, 2024 Equity Warrants Weighted Range Average Unobservable Inputs of Inputs Input (1) Volatility 19.0% - 196.9% 26.7% Risk-free interest rate 4.2% - 5.5% 4.5% Remaining life assumption (in years) 0.08 - 4.97 3.24 ____________________ (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, 2023 $ 40,249 $ 3,689 $ 123,116 Total included in earnings — 178 348 Total included in other comprehensive income — — 1,251 Issuances — 115 — Principal payments — — (891) Transfer to Level 2 (38,149) — — Exercises and settlements — (272) — Transfers to Level 1 (equity investments with readily determinable fair values) — (2) — Balance, March 31, 2024 $ 2,100 $ 3,708 $ 123,824 Unrealized net gains (losses) for the period included in other comprehensive income for securities held at quarter-end $ (900) The following tables present assets measured at fair value on a non-recurring basis as of the dates indicated: Fair Value Measurement as of March 31, 2024 Measured on a Non-Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases $ 5,639 $ — $ 2,602 $ 3,037 OREO 2,511 — 2,511 — Total non-recurring $ 8,150 $ — $ 5,113 $ 3,037 Fair Value Measurement as of December 31, 2023 Measured on a Non-Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases $ 6,402 $ — $ 4,051 $ 2,351 OREO 3,422 — 3,422 — Total non-recurring $ 9,824 $ — $ 7,473 $ 2,351 The following table presents losses recognized on assets measured on a nonrecurring basis for the periods indicated: Three Months Ended Losses on Assets March 31, Measured on a Non-Recurring Basis 2024 2023 (In thousands) Individually evaluated loans and leases $ 832 $ 4,911 OREO 297 — Total losses $ 1,129 $ 4,911 The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis as of the date indicated: March 31, 2024 Valuation Unobservable Input or Weighted Asset Fair Value Technique Inputs Range Average (In thousands) Individually evaluated loans and leases 3,037 Third-party appraisals No discounts Total non-recurring Level 3 $ 3,037 The following tables present carrying amounts and estimated fair values of certain financial instruments as of the dates indicated: March 31, 2024 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 199,922 $ 199,922 $ 199,922 $ — $ — Interest-earning deposits in financial institutions 2,885,306 2,885,306 2,885,306 — — Securities available-for-sale 2,286,682 2,286,682 — 2,284,582 2,100 Securities held-to-maturity 2,291,984 2,153,349 172,338 1,963,818 17,193 Investment in FRB and FHLB stock 129,314 129,314 — 129,314 — Loans held for sale 80,752 82,383 — 82,383 — Loans and leases held for investment, net 25,181,519 23,553,410 — 2,602 23,550,808 Equity investments with readily determinable fair values 1 1 1 — — Equity warrants 3,708 3,708 — — 3,708 Interest rate and economic contracts 10,205 10,205 — 10,205 — Servicing rights 21,384 22,242 — — 22,242 Financial Liabilities: Demand, checking, money market, and savings deposits 22,706,213 22,706,213 — 22,706,213 — Time deposits 6,186,194 6,260,651 — 6,260,651 — Borrowings 2,139,498 2,135,757 — 2,011,933 123,824 Subordinated debt 937,717 850,984 — 850,984 — Derivative liabilities 7,337 7,337 — 7,337 — December 31, 2023 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 202,427 $ 202,427 $ 202,427 $ — $ — Interest-earning deposits in financial institutions 5,175,149 5,175,149 5,175,149 — — Securities available-for-sale 2,346,864 2,346,864 4,968 2,301,647 40,249 Securities held-to-maturity 2,287,291 2,168,316 175,579 1,976,015 16,722 Investment in FRB and FHLB stock 126,346 126,346 — 126,346 — Loans held for sale 122,757 126,646 — 126,646 — Loans and leases held for investment, net 25,208,000 23,551,725 — 4,051 23,547,674 Equity investments with readily determinable fair values 1 1 1 — — Equity warrants 3,689 3,689 — — 3,689 Interest rate and economic contracts 8,309 8,309 — 8,309 — Servicing rights 22,174 22,174 — — 22,174 Financial Liabilities: Demand, checking, money market, and savings deposits 23,768,896 23,768,896 — 23,768,896 — Time deposits 6,632,873 6,732,246 — 6,732,246 — Borrowings 2,911,322 2,908,527 — 2,785,411 123,116 Subordinated debt 936,599 851,625 — 851,625 — Derivative liabilities 10,549 10,549 — 10,549 — Limitations Fair value estimates are made at a specific point in time and are based on relevant market information and information about the financial instrument. These estimates do not reflect income taxes or any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a portion of the Company’s financial instruments, fair value estimates are based on what management believes to be reasonable judgments regarding expected future cash flows, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimated fair values are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Since the fair values have been estimated as of March 31, 2024, the amounts that will actually be realized or paid at settlement or maturity of the instruments could be significantly different. |
Earnings (Loss) Per Share
Earnings (Loss) Per Share | 3 Months Ended |
Mar. 31, 2024 | |
Earnings Per Share [Abstract] | |
Earnings (Loss) Per Share | EARNINGS (LOSS) PER SHARE The following table presents the computations of basic and diluted net earnings (loss) per share for the periods indicated: Three Months Ended March 31, 2024 2023 (In thousands, except per share amounts) Non-Voting Class B Common Voting Non-Voting Stock Total Total Common Common Equivalents Common Common (2) Basic Earnings (Loss) Per Share: Net earnings (loss) available to common and equivalent stockholders $ 19,521 $ 59 $ 1,325 $ 20,905 $ (1,205,371) Less: Earnings allocated to unvested restricted stock (1) (53) — — (53) (319) Net earnings (loss) allocated to common and equivalent shares $ 19,468 $ 59 $ 1,325 $ 20,852 $ (1,205,690) Weighted average basic shares and unvested restricted stock outstanding 157,838 477 10,658 168,973 78,985 Less: weighted average unvested restricted stock outstanding (830) — — (830) (1,517) Weighted average basic shares outstanding 157,008 477 10,658 168,143 77,468 Basic earnings (loss) per share $ 0.12 $ 0.12 $ 0.12 $ 0.12 $ (15.56) Diluted Earnings (Loss) Per Share: Net earnings (loss) allocated to common and equivalent shares $ 19,468 $ 59 $ 1,325 $ 20,852 $ (1,205,690) Weighted average diluted shares outstanding 157,008 477 10,658 168,143 77,468 Diluted earnings (loss) per share $ 0.12 $ 0.12 $ 0.12 $ 0.12 $ (15.56) ________________________ (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. (2) Share amounts for the three months ended March 31, 2023 have been restated by multiplying historical amounts by the Merger exchange ratio of 0.6569. The following table presents the weighted average outstanding restricted shares and warrants that were not included in the computation of diluted earnings (loss) per share because their effect would be anti-dilutive for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 (In thousands) Restricted stock awards and units (1) 830 1,517 Warrants 18,902 — ____________________________ (1) Share amounts for the three months ended March 31, 2023 have been restated by multiplying historical amounts by the Merger exchange ratio of 0.6569. |
Revenue From Contracts With Cus
Revenue From Contracts With Customers | 3 Months Ended |
Mar. 31, 2024 | |
Revenue From Contracts With Customers [Abstract] | |
Revenue from Contracts with Customers | REVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregation of Revenue The following table presents interest income and noninterest income, the components of total revenue, as disclosed in the condensed consolidated statements of earnings (loss) and the related amounts which are from contracts with customers within the scope of ASC Topic 606, " Revenue from Contracts with Customers," for the periods indicated. As illustrated here, substantially all of our revenue is specifically excluded from the scope of ASC Topic 606. Three Months Ended March 31, 2024 2023 Total Revenue from Total Revenue from Recorded Contracts with Recorded Contracts with Revenue Customers Revenue Customers (In thousands) Total Interest Income $ 478,704 $ — $ 517,788 $ — Noninterest Income: Service charges on deposit accounts 4,705 4,705 3,573 3,573 Other commissions and fees 8,142 4,983 10,344 4,432 Leased equipment income 11,716 — 13,857 — (Loss) gain on sale of loans (448) — 2,962 — Dividends and gains on equity investments 3,068 — 1,098 — Warrant income (loss) 178 — (333) — LOCOM HFS adjustment 330 — — — Other income 6,125 93 4,890 269 Total noninterest income 33,816 9,781 36,391 8,274 Total Revenue $ 512,520 $ 9,781 $ 554,179 $ 8,274 The following table presents revenue from contracts with customers based on the timing of revenue recognition for the periods indicated: Three Months Ended March 31, 2024 2023 (In thousands) Products and services transferred at a point in time $ 4,878 $ 4,352 Products and services transferred over time 4,903 3,922 Total revenue from contracts with customers $ 9,781 $ 8,274 Contract Balances The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers as of the dates indicated: March 31, 2024 December 31, 2023 (In thousands) Receivables, which are included in "Other assets" $ 1,354 $ 1,615 Contract liabilities, which are included in "Accrued interest payable and other liabilities" $ 401 $ 418 Contract liabilities relate to advance consideration received from customers for which revenue is recognized over the life of the contract. The change in contract liabilities for the three months ended March 31, 2024 due to revenue recognized that was included in the contract liability balance at the beginning of the period was $17,000 |
Stockholders' Equity
Stockholders' Equity | 3 Months Ended |
Mar. 31, 2024 | |
Share-Based Payment Arrangement [Abstract] | |
Stock-Based Compensation | STOCKHOLDERS' EQUITY Stock-Based Compensation At the special meeting of stockholders held on November 22, 2023, the Company's stockholders approved the Amended and Restated Banc of California, Inc. 2018 Stock Incentive Plan (the “Amended and Restated 2018 Plan”). The Company’s Amended and Restated 2018 Plan permits stock-based compensation awards to officers, directors, employees, and consultants and will remain in effect until November 30, 2033. The Amended and Restated 2018 Plan authorizes grants of stock-based compensation instruments to purchase or issue up to 8,789,197 shares. As of March 31, 2024, there wer e 6,983,382 shares available for grant under the Amended and Restated 2018 Plan. In addition to the Amended and Restated 2018 Plan, in connection with the Merger, the Company assumed the Amended and Restated PacWest Bancorp 2017 Stock Incentive Plan (the "PacWest 2017 Plan") with respect to PacWest's outstanding stock-based awards. Restricted Stock Restricted stock amortization totaled $4.4 million and $5.0 million for the three months ended March 31, 2024 and 2023. Such amounts are included in "Compensation expense" on the condensed consolidated statements of earnings (loss). The amount of unrecognized compensation expense related to all unvested RSUs, TRSAs, and PRSUs as of March 31, 2024 totaled $46.1 million. Time-Based Restricted Stock Awards At March 31, 2024, there were 1,825,307 shares of unvested RSUs outstanding pursuant to the Amended and Restated 2018 Plan. At March 31, 2024, there were 781,815 sh ar es of unvested TRSAs outstanding pursuant to the PacWest 2017 Plan. The RSUs and TRSAs generally vest over a service period of three Performance-Based Restricted Stock Units At March 31, 2024, there were 296,614 units of unvested PRSUs that have been granted. Compensation expense related to PRSUs is based on the fair value of the underlying stock on the award date and is amortized over the vesting period using the straight-line method unless it is determined that: (1) attainment of the financial metrics is less than probable, in which case a portion of the amortization is suspended, or (2) attainment of the financial metrics is improbable, in which case a portion of the previously recognized amortization is reversed and also suspended. Annual PRSU expense may vary during the 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 PRSUs 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. Classes of Stock and Equity Instruments Preferred Stock Depositary shares each representing 1/40th of a share of 7.75% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series F (“Series F Preferred Stock”) are listed on the NYSE under the symbol “BANC/PF.” The Series F Preferred Stock ranks senior to our common stock and common stock equivalents both as to dividends and liquidation preference but generally have no voting rights. There are 50,000,000 total preferred shares authorized, of which 27,000,000 were authorized for the non-voting common stock equivalents (“NVCE”) and 513,250 were authorized and outstanding for the Series F Preferred stock at March 31, 2024 and December 31, 2023. Common Stock Our voting common stock is listed on the NYSE under the symbol “BANC” and there were 446,863,844 shares authorized at March 31, 2024 and December 31, 2023 and 157,608,893 shares outstanding at March 31, 2024 and 156,790,349 shares outstanding at December 31, 2023. Class B Non-Voting Common Stock Our Class B non-voting common stock is not listed or traded on any national securities exchange or automated quotation system, and there currently is no established trading market for such stock. The Class B non-voting common stock ranks equally with, and has identical rights, preferences and privileges as the voting common stock with respect to dividends and liquidation preference but generally have no voting rights. There were 3,136,156 shares authorized at March 31, 2024 and December 31, 2023 and 477,321 shares outstanding at March 31, 2024 and 477,321 shares outstanding at December 31, 2023. Non-Voting Common Stock Equivalents In conjunction with the Merger, the Company issued a new class of NVCE from authorized preferred stock, which were issued under the Investment Agreements (as defined below). Our NVCE stock is not listed or traded on any national securities exchange or automated quotation system, and there currently is no established trading market for such stock. The NVCE stock does not have voting rights and ranks equally with, and has identical rights, preferences and privileges as the voting common stock with respect to dividends or distributions (including regular quarterly dividends) declared by the Board and rights upon any liquidation, dissolution, winding up or similar proceeding of the Company. There were 27,000,000 shares authorized at March 31, 2024 and December 31, 2023 and 10,145,600 shares outstanding at March 31, 2024 and 10,829,990 shares outstanding at December 31, 2023. Warrants In conjunction with the Merger and per the terms of the investment agreements, each dated July 25, 2023, entered into by Banc of California, Inc. with the Warburg Investors (such agreement, the "Warburg Investment Agreement") and the Centerbridge Investor (together with the Warburg Investment Agreement, the "Investment Agreements"), respectively, the Warburg Investors received warrants to purchase 15,853,659 shares of NVCE stock, and the Centerbridge Investor received warrants to purchase 3,048,780 shares of voting common stock (the “Centerbridge Warrants”), each with an initial exercise price of $15.375 per share, subject to customary anti-dilution adjustments provided for under the warrant agreements. The warrants carry a term of seven years but are subject to mandatory exercise when the market price of the voting common stock reaches or exceeds $24.60 for 20 or more trading days during any 30-consecutive trading day period. These warrants are being accounted for as equity. The exercise price of the Centerbridge Warrants will be adjusted downward, per the terms of the agreement, for cash distributions to stockholders of the Company's voting common stock, including the Company's quarterly cash dividend. |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Mar. 31, 2024 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | RELATED PARTY TRANSACTIONS Certain of our executive officers and directors, and their related interests, are customers of, or have had transactions with, the Bank in the ordinary course of business, including deposits, loans and other financial services-related transactions. From time to time, the Bank may make loans to executive officers and directors, and their related interests, in the ordinary course of business and on substantially the same terms and conditions, including interest rates and collateral, as those of comparable transactions with non-insiders prevailing at the time, in accordance with the Bank's underwriting guidelines, and do not involve more than the normal risk of collectability or present other unfavorable features. As of March 31, 2024, no related party loans were categorized as nonaccrual, past due, restructured or potential problem loans. Transactions with Related Parties The Company and the Bank have engaged in the transaction described below with the Company's current directors, executive officers, and beneficial owners of more than five percent of the outstanding shares of the Company's voting common stock and certain persons related to them. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards | 3 Months Ended |
Mar. 31, 2024 | |
Recently Issued Accounting Standards [Abstract] | |
Recently Issued Accounting Standards | RECENTLY ISSUED ACCOUNTING STANDARDS Effective Effect on the Financial Statements Standard Description Date or Other Significant Matters ASU 2023-06, Disclosure Improvements - Codification Amendments in Response to the SEC's Disclosure Update and Simplification Initiative This standard amends certain Subtopics of the ASC to incorporate certain disclosure requirements from SEC Release No. 33-10532, " Disclosure Update and Simplification " that was issued in 2018. The amendments in this standard should be applied prospectively. Early adoption is prohibited. The effective date for each amendment will be the date on which the SEC's removal of the related disclosure from Regulation S-X or Regulation S-K becomes effective. The Company is evaluating the impact of this standard on its consolidated financial statements. Effective Effect on the Financial Statements Standard Description Date or Other Significant Matters ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures The standard improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The enhanced segment disclosure requirements apply retrospectively to all prior periods presented in the financial statements. Additionally, early adoption is permitted. December 31, 2024 The Company is evaluating the impact of this standard on its consolidated financial statements. Effective Effect on the Financial Statements Standard Description Date or Other Significant Matters ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures The standard, among other changes, improves annual income tax disclosures by requiring disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The enhanced income tax disclosure requirements apply on a prospective basis to annual financial statements for periods beginning after the effective date. However, retrospective application in all prior periods presented is permitted. Additionally, early adoption is permitted. January 1, 2025 The Company is evaluating the impact of this standard on its consolidated financial statements. Effective Effect on the Financial Statements Standard Description Date or Other Significant Matters ASU 2024-02, Codification Improvements: Amendments to Remove References to the Concepts Statements The ASU amends the Codification to remove references to various concepts and impacts a variety of topics in the Codification. In most instances, the references are extraneous and not required to understand or apply the guidance. In other instances, the references were used in prior Concept Statements to provide guidance in certain topical areas. The amendment in this ASU should be applied using one of the following transition methods: (1) prospectively to all new transactions recognized on or after the date that the entity first applies the amendments; or (2) retrospectively to the beginning of the earliest comparative period presented in which the amendments were first applied. Additionally, early adoption is permitted. January 1, 2025 The Company is evaluating the impact of this standard on its consolidated financial statements. |
Item 5. Other Information
Item 5. Other Information | 3 Months Ended |
Mar. 31, 2024 | |
Nonmonetary Transactions [Abstract] | |
Document Information | ITEM 5. OTHER INFORMATION Update to Previously Reported Results On April 23, 2024, the Company issued a press release announcing its financial results for the first quarter ended March 31, 2024 (the “Earnings Press Release”). In the Earnings Press Release, the Company reported $32.5 million of net loan discount accretion for the three months ended March 31, 2024 related primarily to the accretion of fair value discounts on loans acquired in the recent transformational merger between the Company and PacWest Bancorp. While completing its review procedures for the preparation of the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2024, the Company identified an error in its previously reported amount of net loan discount accretion and, accordingly, adjusted its net loan discount accretion for the three months ended March 31, 2024 to $22.4 million. As a result, the Company also adjusted net earnings from $38.1 million to $30.9 million, diluted earnings per share from $0.17 to $0.12, and adjusted diluted earnings per share from $0.19 to $0.15 (see "Non-GAAP Financial Measures"). The Company determined that there was a data boarding issue in the Company’s loan servicing system related to acquired loans with terminal balloon payments which impacted the accretion calculation of fair value discounts. This data boarding issue resulted in a higher net loan discount accretion for those loans for the three months ended March 31, 2024. Upon identifying this issue, the Company engaged a nationally recognized accounting firm to assist it in completing a revised calculation of the net loan discount accretion for these loans. The information in this Form 10-Q amends and supersedes the disclosures in the Earnings Press Release. Trading Arrangements During the quarter ended March 31, 2024, 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 (Policies)
Organization (Policies) | 3 Months Ended |
Mar. 31, 2024 | |
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, 2023 as filed with the Securities and Exchange Commission ("Form 10-K"). |
Recently Issued Accounting Standards | Accounting Standards Adopted in 2024 Effective January 1, 2024, the Company adopted 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 should not be considered in measuring fair value. It also requires entities with investments in equity securities subject to contractual sale restrictions to disclose certain qualitative and quantitative information about such securities. The Company does not take into account contractual sale restrictions in determining the fair value of its equity securities, therefore, the adoption of this amendment did not have a material impact on the Company's consolidated financial statements. Effective January 1, 2024, the Company adopted ASU 2023-02, " Investments - 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. The Company adopted this update on a prospective basis and determined that the adoption of this amendment did not have a material impact on the Company's consolidated financial statements. Effective Effect on the Financial Statements Standard Description Date or Other Significant Matters ASU 2024-02, Codification Improvements: Amendments to Remove References to the Concepts Statements The ASU amends the Codification to remove references to various concepts and impacts a variety of topics in the Codification. In most instances, the references are extraneous and not required to understand or apply the guidance. In other instances, the references were used in prior Concept Statements to provide guidance in certain topical areas. The amendment in this ASU should be applied using one of the following transition methods: (1) prospectively to all new transactions recognized on or after the date that the entity first applies the amendments; or (2) retrospectively to the beginning of the earliest comparative period presented in which the amendments were first applied. Additionally, early adoption is permitted. January 1, 2025 The Company is evaluating the impact of this standard on its consolidated financial statements. |
Basis of Presentation | Basis of Presentation The accounting and reporting policies of the Company are in accordance with U.S. generally accepted accounting principles, which we may refer to as U.S. GAAP. In the opinion of management, all significant intercompany accounts and transactions have been eliminated and adjustments, consisting solely of normal recurring accruals and considered necessary for the fair presentation of financial statements have been included. |
Use of Estimates | Use of Estimates The Company has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period to prepare these consolidated financial statements in conformity with U.S. GAAP. Actual results could differ from those estimates. Material estimates subject to change in the near term include, among other items, the allowance for credit losses (the combination of the allowance for loan and lease losses and the reserve for unfunded loan commitments), the carrying value of goodwill and other intangible assets, the fair value of assets and liabilities acquired in business combinations and the related purchase price allocation, 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. |
Fair Value Measures and Disclos
Fair Value Measures and Disclosures (Policies) | 3 Months Ended |
Mar. 31, 2024 | |
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 (loss). However, movements in debt valuation adjustments are reported as a component of "Accumulated other comprehensive loss, net" 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) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024, the fair value of these investments was $113.0 million. |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of available-for-sale securities reconciliation | The following table presents amortized cost, gross unrealized gains and losses, and fair values of securities available-for-sale as of the dates indicated: March 31, 2024 Allowance Gross Gross Amortized for Credit Net Carrying Unrealized Unrealized Fair Security Type Cost Losses Amount Gains Losses Value (In thousands) Agency residential MBS $ 1,364,245 $ — $ 1,364,245 $ — $ (226,776) $ 1,137,469 Agency commercial MBS 260,116 — 260,116 — (16,729) 243,387 Agency residential CMOs 317,605 — 317,605 — (36,036) 281,569 Municipal securities 34,645 — 34,645 — (1,386) 33,259 Corporate debt securities 327,447 (199) 327,248 1,592 (51,642) 277,198 Private label residential CMOs 190,508 — 190,508 — (37,096) 153,412 Collateralized loan obligations 109,167 — 109,167 — (89) 109,078 Private label commercial MBS 20,725 — 20,725 — (1,234) 19,491 Asset-backed securities 18,906 — 18,906 2 — 18,908 SBA securities 13,917 — 13,917 — (1,006) 12,911 Total $ 2,657,281 $ (199) $ 2,657,082 $ 1,594 $ (371,994) $ 2,286,682 December 31, 2023 Allowance Gross Gross Amortized for Credit Net Carrying Unrealized Unrealized Fair Security Type Cost Losses Amount Gains Losses Value (In thousands) Agency residential MBS $ 1,388,801 $ — $ 1,388,801 $ — $ (201,192) $ 1,187,609 U.S. Treasury securities 4,965 — 4,965 3 — 4,968 Agency commercial MBS 268,639 — 268,639 — (15,333) 253,306 Agency residential CMOs 320,984 — 320,984 — (36,650) 284,334 Municipal securities 29,192 — 29,192 — (1,109) 28,083 Corporate debt securities 327,426 (199) 327,227 259 (60,254) 267,232 Private label residential CMOs 193,071 — 193,071 — (34,659) 158,412 Collateralized loan obligations 109,168 — 109,168 — (752) 108,416 Private label commercial MBS 22,126 — 22,126 — (1,313) 20,813 Asset-backed securities 20,241 — 20,241 — (289) 19,952 SBA securities 14,642 — 14,642 — (903) 13,739 Total $ 2,699,255 $ (199) $ 2,699,056 $ 262 $ (352,454) $ 2,346,864 |
Schedule of realized gains and losses on securities available-for-sale | The were no investment securities sales for the three months ended March 31, 2024 and 2023. |
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: March 31, 2024 Less Than 12 Months 12 Months or More Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Security Type Value Losses Value Losses Value Losses (In thousands) Agency residential MBS $ — $ — $ 1,137,469 $ (226,776) $ 1,137,469 $ (226,776) Agency commercial MBS — — 243,387 (16,729) 243,387 (16,729) Agency residential CMOs — — 281,569 (36,036) 281,569 (36,036) Municipal securities — — 33,259 (1,386) 33,259 (1,386) Corporate debt securities — — 274,022 (51,642) 274,022 (51,642) Private label residential CMOs — — 153,412 (37,096) 153,412 (37,096) Collateralized loan obligations — — 17,811 (89) 17,811 (89) Private label commercial MBS — — 19,491 (1,234) 19,491 (1,234) SBA securities — — 12,911 (1,006) 12,911 (1,006) Total $ — $ — $ 2,173,331 $ (371,994) $ 2,173,331 $ (371,994) December 31, 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 $ — $ — $ 1,187,609 $ (201,192) $ 1,187,609 $ (201,192) Agency commercial MBS — — 253,306 (15,333) 253,306 (15,333) Agency residential CMOs — — 265,431 (36,650) 265,431 (36,650) Municipal securities — — 284,334 (1,109) 284,334 (1,109) Corporate debt securities — — 19,952 (60,254) 19,952 (60,254) Private label residential CMOs — — 158,412 (34,659) 158,412 (34,659) Collateralized loan obligations — — 66,886 (752) 66,886 (752) Private label commercial MBS — — 28,083 (1,313) 28,083 (1,313) Asset-backed securities — — 20,813 (289) 20,813 (289) SBA securities — — 13,739 (903) 13,739 (903) Total $ — $ — $ 2,298,565 $ (352,454) $ 2,298,565 $ (352,454) |
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: March 31, 2024 Allowance for Net Gross Gross Amortized Credit Carrying Unrealized Unrealized Fair Security Type Cost Losses Amount Gains Losses Value (In thousands) Municipal securities $ 1,248,355 $ (140) $ 1,248,215 $ 676 $ (42,079) $ 1,206,812 Agency commercial MBS 435,467 — 435,467 — (34,619) 400,848 Private label commercial MBS 351,688 — 351,688 — (28,499) 323,189 U.S. Treasury securities 187,759 — 187,759 — (15,421) 172,338 Corporate debt securities 70,215 (1,360) 68,855 — (18,693) 50,162 Total (1) $ 2,293,484 $ (1,500) $ 2,291,984 $ 676 $ (139,311) $ 2,153,349 __________________________ (1) Excludes accrued interest receivable of $11.3 million at March 31, 2024 which is recorded in "Other assets" on the condensed consolidated balance sheets. December 31, 2023 Allowance for Net Gross Gross Amortized Credit Carrying Unrealized Unrealized Fair Security Type Cost Losses Amount Gains Losses Value (In thousands) Municipal securities $ 1,247,310 $ (140) $ 1,247,170 $ 1,760 $ (28,170) $ 1,220,760 Agency commercial MBS 433,827 — 433,827 — (30,665) 403,162 Private label commercial MBS 350,493 — 350,493 — (29,289) 321,204 U.S. Treasury securities 187,033 — 187,033 — (11,454) 175,579 Corporate debt securities 70,128 (1,360) 68,768 — (21,157) 47,611 Total (1) $ 2,288,791 $ (1,500) $ 2,287,291 $ 1,760 $ (120,735) $ 2,168,316 __________________________ (1) Excludes accrued interest receivable of $13.4 million at December 31, 2023 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 March 31, 2024 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 March 31, 2023 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: March 31, 2024 Security Type AAA AA+ AA AA- A+ A A- BBB NR Total (In thousands) Amortized Cost: Municipal securities $ 564,266 $ 399,503 $ 166,758 $ 86,334 $ 12,001 $ 1,783 $ — $ — $ 17,710 $ 1,248,355 Agency commercial MBS — 435,467 — — — — — — — 435,467 Private label commercial MBS 351,688 — — — — — — — — 351,688 U.S. Treasury securities — 187,759 — — — — — — — 187,759 Corporate debt securities — — — — — — — 44,405 25,810 70,215 Total $ 915,954 $ 1,022,729 $ 166,758 $ 86,334 $ 12,001 $ 1,783 $ — $ 44,405 $ 43,520 $ 2,293,484 December 31, 2023 Security Type AAA AA+ AA AA- A+ A A- BBB NR Total (In thousands) Amortized Cost: Municipal securities $ 564,127 $ 397,542 $ 167,905 $ 86,243 $ 12,007 $ 1,787 $ — $ — $ 17,699 $ 1,247,310 Agency commercial MBS — 433,827 — — — — — — — 433,827 Private label commercial MBS 350,493 — — — — — — — — 350,493 U.S. Treasury securities — 187,033 — — — — — — — 187,033 Corporate debt securities — — — — — — — 44,371 25,757 70,128 Total $ 914,620 $ 1,018,402 $ 167,905 $ 86,243 $ 12,007 $ 1,787 $ — $ 44,371 $ 43,456 $ 2,288,791 |
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 March 31, 2024 2023 (In thousands) Taxable interest $ 27,601 $ 38,692 Non-taxable interest 4,720 4,903 Dividend income 1,982 642 Total interest income on investment securities $ 34,303 $ 44,237 |
Available-for-sale Investments Classified by Contractual Maturity Date | The following tables present the contractual maturities of our securities available-for-sale portfolio based on amortized cost and fair value as of the date indicated: March 31, 2024 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 $ — $ — $ — $ 1,364,245 $ 1,364,245 Agency commercial MBS — 168,889 73,834 17,393 260,116 Agency residential CMOs — 36,144 15,122 266,339 317,605 Municipal securities — 16,878 17,767 — 34,645 Corporate debt securities — 5,000 322,447 — 327,447 Private label residential CMOs — — — 190,508 190,508 Collateralized loan obligations — — 109,167 — 109,167 Private label commercial MBS — — 1,250 19,475 20,725 Asset-backed securities — — — 18,906 18,906 SBA securities — 2,431 — 11,486 13,917 Total $ — $ 229,342 $ 539,587 $ 1,888,352 $ 2,657,281 March 31, 2024 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) Fair Value: Agency residential MBS $ — $ — $ — $ 1,137,469 $ 1,137,469 Agency commercial MBS — 159,271 67,780 16,336 243,387 Agency residential CMOs — 33,651 14,020 233,898 281,569 Municipal securities — 16,411 16,848 — 33,259 Corporate debt securities — 4,825 272,373 — 277,198 Private label residential CMOs — — — 153,412 153,412 Collateralized loan obligations — — 109,078 — 109,078 Private label commercial MBS — — 1,206 18,285 19,491 Asset-backed securities — — — 18,908 18,908 SBA securities — 2,312 — 10,599 12,911 Total $ — $ 216,470 $ 481,305 $ 1,588,907 $ 2,286,682 |
Held-to-Maturity Investments Classified by Contractual Maturity Date | The following tables present the contractual maturities of our securities held-to-maturity portfolio based on amortized cost and fair value as of the date indicated: March 31, 2024 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 $ — $ 17,710 $ 394,075 $ 836,570 $ 1,248,355 Agency commercial MBS — — 435,467 — 435,467 Private label commercial MBS — — 36,515 315,173 351,688 U.S. Treasury securities — — 187,759 — 187,759 Corporate debt securities — — 10,181 60,034 70,215 Total $ — $ 17,710 $ 1,063,997 $ 1,211,777 $ 2,293,484 March 31, 2024 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) Fair Value: Municipal securities $ — $ 17,550 $ 376,643 $ 812,619 $ 1,206,812 Agency commercial MBS — — 400,848 — 400,848 Private label commercial MBS — — 34,328 288,861 323,189 U.S. Treasury securities — — 172,338 — 172,338 Corporate debt securities — — 9,350 40,812 50,162 Total $ — $ 17,550 $ 993,507 $ 1,142,292 $ 2,153,349 |
Loans and Leases (Tables)
Loans and Leases (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Receivables [Abstract] | |
Schedule of composition of loans portfolio | The following table summarizes the composition of our loans and leases held for investment as of the dates indicated: March 31, December 31, 2024 2023 (In thousands) Real estate mortgage $ 16,217,186 $ 16,378,537 Real estate construction and land (1) 3,266,639 3,183,357 Commercial 5,831,666 5,780,346 Consumer 440,470 454,474 Total gross loans and leases held for investment 25,755,961 25,796,714 Unearned discounts, net (2) (238,933) (261,984) Deferred fees, net (44,006) (45,043) Total loans and leases held for investment, net of unearned discounts and deferred fees 25,473,022 25,489,687 Allowance for loan and lease losses (291,503) (281,687) Total loans and leases held for investment, net (3) $ 25,181,519 $ 25,208,000 ____________________ (1) Includes land and acquisition and development loans of $235.7 million and $228.9 million at March 31, 2024 and December 31, 2023. (2) Represents net acquisition discounts of $308.9 million and purchase premiums of $70.0 million at March 31, 2024, and net acquisition discounts of $334.2 million and purchase premiums of $72.2 million at December 31, 2023. (3) Excludes accrued interest receivable of $109.3 million and $111.3 million at March 31, 2024 and December 31, 2023, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets. |
Delinquent loans in loan portfolio | The following tables present an aging analysis of our loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated: March 31, 2024 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 69,213 $ 6,828 $ 76,041 $ 4,820,503 $ 4,896,544 Multi-family 9,046 — 9,046 6,112,426 6,121,472 Other residential 75,158 39,396 114,554 4,834,829 4,949,383 Total real estate mortgage 153,417 46,224 199,641 15,767,758 15,967,399 Real estate construction and land: Commercial — — — 775,021 775,021 Residential 4,606 — 4,606 2,465,727 2,470,333 Total real estate construction and land 4,606 — 4,606 3,240,748 3,245,354 Commercial: Asset-based 11,701 2,325 14,026 2,046,990 2,061,016 Venture capital — — — 1,513,641 1,513,641 Other commercial 5,887 8,440 14,327 2,231,583 2,245,910 Total commercial 17,588 10,765 28,353 5,792,214 5,820,567 Consumer 2,810 584 3,394 436,308 439,702 Total $ 178,421 $ 57,573 $ 235,994 $ 25,237,028 $ 25,473,022 December 31, 2023 30 - 89 90 or More Days Days Total Past Due Past Due Past Due Current Total (In thousands) Real estate mortgage: Commercial $ 12,618 $ 15,168 $ 27,786 $ 4,998,711 $ 5,026,497 Multi-family 2,302 1,020 3,322 6,021,857 6,025,179 Other residential 93,042 4,341 97,383 4,962,926 5,060,309 Total real estate mortgage 107,962 20,529 128,491 15,983,494 16,111,985 Real estate construction and land: Commercial — — — 759,585 759,585 Residential — — — 2,399,684 2,399,684 Total real estate construction and land — — — 3,159,269 3,159,269 Commercial: Asset-based 608 2,689 3,297 2,185,788 2,189,085 Venture capital — — — 1,446,362 1,446,362 Other commercial 1,276 6,993 8,269 2,121,591 2,129,860 Total commercial 1,884 9,682 11,566 5,753,741 5,765,307 Consumer 3,461 670 4,131 448,995 453,126 Total $ 113,307 $ 30,881 $ 144,188 $ 25,345,499 $ 25,489,687 |
Financing Receivable, Nonaccrual | The following table presents our nonaccrual and performing loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated: March 31, 2024 December 31, 2023 Nonaccrual Performing Total Nonaccrual Performing Total (In thousands) Real estate mortgage: Commercial $ 66,527 $ 4,830,017 $ 4,896,544 $ 15,669 $ 5,010,828 $ 5,026,497 Multi-family 953 6,120,519 6,121,472 1,020 6,024,159 6,025,179 Other residential 61,754 4,887,629 4,949,383 31,041 5,029,268 5,060,309 Total real estate mortgage 129,234 15,838,165 15,967,399 47,730 16,064,255 16,111,985 Real estate construction and land: Commercial — 775,021 775,021 — 759,585 759,585 Residential — 2,470,333 2,470,333 — 2,399,684 2,399,684 Total real estate construction and land — 3,245,354 3,245,354 — 3,159,269 3,159,269 Commercial: Asset-based 2,325 2,058,691 2,061,016 2,689 2,186,396 2,189,085 Venture capital — 1,513,641 1,513,641 325 1,446,037 1,446,362 Other commercial 13,390 2,232,520 2,245,910 10,972 2,118,888 2,129,860 Total commercial 15,715 5,804,852 5,820,567 13,986 5,751,321 5,765,307 Consumer 836 438,866 439,702 811 452,315 453,126 Total $ 145,785 $ 25,327,237 $ 25,473,022 $ 62,527 $ 25,427,160 $ 25,489,687 |
CV of loans held for investment by class by performing and nonperforming | The following tables present the credit risk rating categories for loans and leases held for investment, net of deferred fees, by loan portfolio segment and class as of the dates indicated. Classified loans and leases are those with a credit risk rating of either substandard or doubtful. March 31, 2024 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 174,525 $ 196,450 $ 4,525,569 $ 4,896,544 Multi-family 74,646 94,218 5,952,608 6,121,472 Other residential 66,410 31,599 4,851,374 4,949,383 Total real estate mortgage 315,581 322,267 15,329,551 15,967,399 Real estate construction and land: Commercial — — 775,021 775,021 Residential — 3,005 2,467,328 2,470,333 Total real estate construction and land — 3,005 3,242,349 3,245,354 Commercial: Asset-based 8,495 11,316 2,041,205 2,061,016 Venture capital 10,453 198,311 1,304,877 1,513,641 Other commercial 31,222 15,080 2,199,608 2,245,910 Total commercial 50,170 224,707 5,545,690 5,820,567 Consumer 978 6,530 432,194 439,702 Total $ 366,729 $ 556,509 $ 24,549,784 $ 25,473,022 December 31, 2023 Classified Special Mention Pass Total (In thousands) Real estate mortgage: Commercial $ 75,739 $ 219,687 $ 4,731,071 $ 5,026,497 Multi-family 74,954 108,356 5,841,869 6,025,179 Other residential 38,155 54,197 4,967,957 5,060,309 Total real estate mortgage 188,848 382,240 15,540,897 16,111,985 Real estate construction and land: Commercial — — 759,585 759,585 Residential — 2,757 2,396,927 2,399,684 Total real estate construction and land — 2,757 3,156,512 3,159,269 Commercial: Asset-based 4,561 12,506 2,172,018 2,189,085 Venture capital 7,805 98,633 1,339,924 1,446,362 Other commercial 26,044 9,984 2,093,832 2,129,860 Total commercial 38,410 121,123 5,605,774 5,765,307 Consumer 1,159 7,192 444,775 453,126 Total $ 228,417 $ 513,312 $ 24,747,958 $ 25,489,687 |
Finance Receivable Investment And Interest Income, Nonaccrual | The following table presents our nonaccrual loans and leases by loan portfolio segment and class and by with and without an allowance recorded as of the date indicated and interest income recognized on nonaccrual loans and leases for the periods indicated: Three Months Three Months Ended Ended March 31, March 31, March 31, March 31, 2024 2024 2023 2023 Nonaccrual Interest Nonaccrual Interest Recorded Income Recorded Income Investment Recognized Investment Recognized (In thousands) With An Allowance Recorded: Real estate mortgage: Commercial $ 32,106 $ — $ 60 $ — Multi-family — — — — Other residential 389 — 364 — Real estate construction and land: Commercial — — — — Residential — — — — Commercial: Asset-based 701 — — — Venture capital — — — — Other commercial 816 — 927 — Consumer 832 — 525 — With No Related Allowance Recorded: Real estate mortgage: Commercial $ 34,421 $ 5 $ 32,936 $ 3 Multi-family 953 — — — Other residential 61,365 — 49,696 — Real estate construction and land: Commercial — — — — Residential — — — — Commercial: Asset-based 1,624 — 420 — Venture capital — — — — Other commercial 12,574 — 2,196 1 Consumer 4 — — — Total Loans and Leases With and Without an Allowance Recorded: Real estate mortgage $ 129,234 $ 5 $ 83,056 $ 3 Real estate construction and land — — — — Commercial 15,715 — 3,543 1 Consumer 836 — 525 — Total $ 145,785 $ 5 $ 87,124 $ 4 |
Finance Receivable, Loans By Origination Year | The following tables present our loans held for investment by loan portfolio segment and class, by credit quality indicator (internal risk ratings), and by year of origination (vintage year) as of the dates indicated: Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term March 31, 2024 2024 2023 2022 2021 2020 Prior Loans Loans Total (In thousands) Real Estate Mortgage: Commercial Internal risk rating: 1-3 High pass $ — $ — $ 26,137 $ 15,151 $ 13,787 $ 88,693 $ 1 $ — $ 143,769 4-6 Pass 2,941 169,935 918,384 759,995 508,887 1,924,197 62,325 35,136 4,381,800 7 Special mention — — 14,054 80,551 3,579 98,266 — — 196,450 8-9 Classified — 730 5,019 27,734 24,675 115,263 1,104 — 174,525 Total $ 2,941 $ 170,665 $ 963,594 $ 883,431 $ 550,928 $ 2,226,419 $ 63,430 $ 35,136 $ 4,896,544 Current YTD period: Gross charge-offs $ — $ — $ — $ 28 $ — $ 9 $ — $ — $ 37 Real Estate Mortgage: Multi-family Internal risk rating: 1-3 High pass $ — $ — $ 45,501 $ 158,588 $ 67,642 $ 174,599 $ — $ — $ 446,330 4-6 Pass 18,571 88,432 2,226,235 1,196,320 578,112 1,339,150 11,478 47,980 5,506,278 7 Special mention — — — 8,063 15,465 70,690 — — 94,218 8-9 Classified — — — 17,284 8,552 48,810 — — 74,646 Total $ 18,571 $ 88,432 $ 2,271,736 $ 1,380,255 $ 669,771 $ 1,633,249 $ 11,478 $ 47,980 $ 6,121,472 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Real Estate Mortgage: Other residential Internal risk rating: 1-3 High pass $ — $ — $ — $ — $ — $ — $ 6,693 $ — $ 6,693 4-6 Pass 1,795 184,141 1,764,313 2,757,120 64,163 19,743 53,324 82 4,844,681 7 Special mention — — 27,992 3,323 — 284 — — 31,599 8-9 Classified — 5,027 36,971 21,551 939 1,742 147 33 66,410 Total $ 1,795 $ 189,168 $ 1,829,276 $ 2,781,994 $ 65,102 $ 21,769 $ 60,164 $ 115 $ 4,949,383 Current YTD period: Gross charge-offs $ — $ 851 $ 1,028 $ 540 $ 21 $ — $ — $ — $ 2,440 ____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees. Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term March 31, 2024 2024 2023 2022 2021 2020 Prior Loans Loans Total (In thousands) Real Estate Construction and Land: Commercial Internal risk rating: 1-3 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 4-6 Pass 5,783 26,160 417,605 221,095 71,133 11,351 21,894 — 775,021 7 Special mention — — — — — — — — — 8-9 Classified — — — — — — — — — Total $ 5,783 $ 26,160 $ 417,605 $ 221,095 $ 71,133 $ 11,351 $ 21,894 $ — $ 775,021 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Real Estate Construction and Land: Residential Internal risk rating: 1-3 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 4-6 Pass 10,774 87,735 1,315,850 645,125 255,161 26,908 125,775 — 2,467,328 7 Special mention — — — 3,005 — — — — 3,005 8-9 Classified — — — — — — — — — Total $ 10,774 $ 87,735 $ 1,315,850 $ 648,130 $ 255,161 $ 26,908 $ 125,775 $ — $ 2,470,333 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial: Asset-Based Internal risk rating: 1-3 High pass $ 16,929 $ 38,274 $ 230,364 $ 213,767 $ 32,957 $ 316,425 $ 85,599 $ — $ 934,315 4-6 Pass (9) 111,264 215,198 125,887 16,485 32,016 606,049 — 1,106,890 7 Special mention — — 75 3 — 1 11,237 — 11,316 8-9 Classified — — — — 701 — 7,794 — 8,495 Total $ 16,920 $ 149,538 $ 445,637 $ 339,657 $ 50,143 $ 348,442 $ 710,679 $ — $ 2,061,016 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial: Venture Capital Internal risk rating: 1-3 High pass $ (85) $ (98) $ (5) $ — $ 1,998 $ (2) $ 148,410 $ 1,407 $ 151,625 4-6 Pass 24,976 71,914 102,487 106,549 5,821 6,774 749,806 84,925 1,153,252 7 Special mention — 61,994 28,850 31,934 — 19,987 50,551 4,995 198,311 8-9 Classified — 2,967 — 7,486 — — — — 10,453 Total $ 24,891 $ 136,777 $ 131,332 $ 145,969 $ 7,819 $ 26,759 $ 948,767 $ 91,327 $ 1,513,641 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ 141 $ — $ 141 ____________________ (1) Amounts with negative balances are loans with zero principal balances and deferred loan origination fees. Revolving Converted Amortized Cost Basis (1) Term Loans by Origination Year Revolving to Term March 31, 2024 2024 2023 2022 2021 2020 Prior Loans Loans Total (In thousands) Commercial: Other Commercial Internal risk rating: 1-3 High pass $ 505 $ 785 $ 4,273 $ 4,855 $ 105 $ 1,221 $ 61,631 $ — $ 73,375 4-6 Pass 44,466 81,764 175,174 278,317 49,333 180,267 1,314,086 2,826 2,126,233 7 Special mention — — — 457 — 6,560 7,999 64 15,080 8-9 Classified — — 2,281 3,556 2,061 18,277 3,991 1,056 31,222 Total $ 44,971 $ 82,549 $ 181,728 $ 287,185 $ 51,499 $ 206,325 $ 1,387,707 $ 3,946 $ 2,245,910 Current YTD period: Gross charge-offs $ — $ — $ — $ 211 $ — $ 121 $ 231 $ — $ 563 Consumer Internal risk rating: 1-3 High pass $ — $ — $ 25 $ 21 $ 3 $ — $ 1,918 $ — $ 1,967 4-6 Pass 8,903 25,411 68,254 199,872 22,426 99,514 5,535 312 430,227 7 Special mention — — 1,119 3,712 103 1,596 — — 6,530 8-9 Classified — — 128 502 43 290 — 15 978 Total $ 8,903 $ 25,411 $ 69,526 $ 204,107 $ 22,575 $ 101,400 $ 7,453 $ 327 $ 439,702 Current YTD period: Gross charge-offs $ — $ — $ 335 $ 643 $ 209 $ 646 $ — $ — $ 1,833 Total Loans and Leases Internal risk rating: 1-3 High pass $ 17,349 $ 38,961 $ 306,295 $ 392,382 $ 116,492 $ 580,936 $ 304,252 $ 1,407 $ 1,758,074 4-6 Pass 118,200 846,756 7,203,500 6,290,280 1,571,521 3,639,920 2,950,272 171,261 22,791,710 7 Special mention — 61,994 72,090 131,048 19,147 197,384 69,787 5,059 556,509 8-9 Classified — 8,724 44,399 78,113 36,971 184,382 13,036 1,104 366,729 Total $ 135,549 $ 956,435 $ 7,626,284 $ 6,891,823 $ 1,744,131 $ 4,602,622 $ 3,337,347 $ 178,831 $ 25,473,022 Current YTD period: Gross charge-offs $ — $ 851 $ 1,363 $ 1,422 $ 230 $ 776 $ 372 $ — $ 5,014 ______________________ (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, 2023 2023 2022 2021 2020 2019 Prior Loans Loans Total (In thousands) Real Estate Mortgage: Commercial Internal risk rating: 1-3 High pass $ — $ 16,976 $ 17,432 $ 16,832 $ 17,337 $ 69,205 $ 1 $ — $ 137,783 4-6 Pass 182,236 933,294 814,564 510,952 298,985 1,765,454 76,866 10,937 4,593,288 7 Special mention — 14,021 32,235 25,485 17,147 129,549 1,250 — 219,687 8-9 Classified 749 — 26,172 439 17,063 29,566 1,750 — 75,739 Total $ 182,985 $ 964,291 $ 890,403 $ 553,708 $ 350,532 $ 1,993,774 $ 79,867 $ 10,937 $ 5,026,497 Current YTD period: Gross charge-offs $ 34 $ — $ — $ — $ 76 $ 14,185 $ — $ — $ 14,295 Real Estate Mortgage: Multi-family Internal risk rating: 1-3 High pass $ — $ 28,155 $ 140,424 $ 58,959 $ 57,988 $ 109,423 $ — $ — $ 394,949 4-6 Pass 66,143 2,221,235 1,193,052 539,660 564,420 794,599 67,811 — 5,446,920 7 Special mention — 2,610 17,784 12,201 39,808 35,953 — — 108,356 8-9 Classified — — 17,283 8,576 26,543 22,552 — — 74,954 Total $ 66,143 $ 2,252,000 $ 1,368,543 $ 619,396 $ 688,759 $ 962,527 $ 67,811 $ — $ 6,025,179 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Real Estate Mortgage: Other residential Internal risk rating: 1-3 High pass $ — $ — $ — $ — $ — $ — $ 6,769 $ — $ 6,769 4-6 Pass 188,561 1,824,253 2,812,293 65,230 — 19,518 51,246 87 4,961,188 7 Special mention — 46,263 7,568 — — — 366 — 54,197 8-9 Classified 3,847 18,263 12,908 1,223 — 1,764 65 85 38,155 Total $ 192,408 $ 1,888,779 $ 2,832,769 $ 66,453 $ — $ 21,282 $ 58,446 $ 172 $ 5,060,309 Current YTD period: Gross charge-offs $ 3,402 $ 23,544 $ 5,385 $ 740 $ — $ 4 $ — $ — $ 33,075 ____________________ (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, 2023 2023 2022 2021 2020 2019 Prior Loans Loans Total (In thousands) Real Estate Construction and Land: Commercial Internal risk rating: 1-3 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 4-6 Pass 23,916 388,165 214,303 68,833 16,781 27,175 20,412 — 759,585 7 Special mention — — — — — — — — — 8-9 Classified — — — — — — — — — Total $ 23,916 $ 388,165 $ 214,303 $ 68,833 $ 16,781 $ 27,175 $ 20,412 $ — $ 759,585 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Real Estate Construction and Land: Residential Internal risk rating: 1-3 High pass $ — $ — $ — $ — $ — $ — $ — $ — $ — 4-6 Pass 64,341 1,185,297 668,083 336,636 — 26,896 115,674 — 2,396,927 7 Special mention — — 2,757 — — — — — 2,757 8-9 Classified — — — — — — — — — Total $ 64,341 $ 1,185,297 $ 670,840 $ 336,636 $ — $ 26,896 $ 115,674 $ — $ 2,399,684 Current YTD period: Gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial: Asset-Based Internal risk rating: 1-3 High pass $ 32,485 $ 237,936 $ 223,088 $ 39,380 $ 119,364 $ 254,638 $ 89,667 $ — $ 996,558 4-6 Pass 122,064 238,206 132,449 17,823 7,447 25,945 630,073 1,453 1,175,460 7 Special mention — 101 — — — 1 12,394 10 12,506 8-9 Classified — — — 701 — 340 3,520 — 4,561 Total $ 154,549 $ 476,243 $ 355,537 $ 57,904 $ 126,811 $ 280,924 $ 735,654 $ 1,463 $ 2,189,085 Current YTD period: Gross charge-offs $ — $ — $ — $ 60 $ — $ — $ — $ 150 $ 210 Commercial: Venture Capital Internal risk rating: 1-3 High pass $ (84) $ (7) $ — $ 1,998 $ — $ (3) $ 136,339 $ (140) $ 138,103 4-6 Pass 101,038 128,485 113,183 6,473 6,216 622 770,941 74,863 1,201,821 7 Special mention 17,481 10,984 31,928 — 19,986 — 13,260 4,994 98,633 8-9 Classified — — 7,808 — — — (3) — 7,805 Total $ 118,435 $ 139,462 $ 152,919 $ 8,471 $ 26,202 $ 619 $ 920,537 $ 79,717 $ 1,446,362 Current YTD period: Gross charge-offs $ — $ 2,245 $ 2,759 $ — $ — $ — $ 9 $ — $ 5,013 ____________________ (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, 2023 2023 2022 2021 2020 2019 Prior Loans Loans Total (In thousands) Commercial: Other Commercial Internal risk rating: 1-3 High pass $ 815 $ 4,350 $ 5,216 $ 130 $ 29 $ 2,148 $ 66,827 $ — $ 79,515 4-6 Pass 98,643 201,215 285,249 50,582 39,951 158,810 1,176,946 2,921 2,014,317 7 Special mention 1,748 1,306 442 554 540 5,071 254 69 9,984 8-9 Classified — 912 4,011 1,706 1,299 13,768 3,257 1,091 26,044 Total $ 101,206 $ 207,783 $ 294,918 $ 52,972 $ 41,819 $ 179,797 $ 1,247,284 $ 4,081 $ 2,129,860 Current YTD period: Gross charge-offs $ — $ 6,867 $ 24 $ — $ 28 $ 75 $ 1,013 $ 431 $ 8,438 Consumer Internal risk rating: 1-3 High pass $ — $ 27 $ 22 $ 4 $ — $ — $ 1,304 $ — $ 1,357 4-6 Pass 26,468 71,523 207,751 23,390 42,338 63,919 7,684 345 443,418 7 Special mention — 1,286 4,224 371 1,100 181 30 — 7,192 8-9 Classified — 281 42 135 198 486 1 16 1,159 Total $ 26,468 $ 73,117 $ 212,039 $ 23,900 $ 43,636 $ 64,586 $ 9,019 $ 361 $ 453,126 Current YTD period: Gross charge-offs $ — $ 432 $ 540 $ 76 $ 255 $ 1,081 $ 1 $ 12 $ 2,397 Total Loans and Leases Internal risk rating: 1-3 High pass $ 33,216 $ 287,437 $ 386,182 $ 117,303 $ 194,718 $ 435,411 $ 300,907 $ (140) $ 1,755,034 4-6 Pass 873,410 7,191,673 6,440,927 1,619,579 976,138 2,882,938 2,917,653 90,606 22,992,924 7 Special mention 19,229 76,571 96,938 38,611 78,581 170,755 27,554 5,073 513,312 8-9 Classified 4,596 19,456 68,224 12,780 45,103 68,476 8,590 1,192 228,417 Total $ 930,451 $ 7,575,137 $ 6,992,271 $ 1,788,273 $ 1,294,540 $ 3,557,580 $ 3,254,704 $ 96,731 $ 25,489,687 Current YTD period: Gross charge-offs $ 3,436 $ 33,088 $ 8,708 $ 876 $ 359 $ 15,345 $ 1,023 $ 593 $ 63,428 ____________________ (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 March 31, 2024 Loan Modifications Balances (Amortized Cost Basis) at March 31, 2024 Term Extension % of Loan Portfolio Balance Class (Dollars in thousands) Real estate mortgage: Commercial $ 1,250 — % Other residential 1,837 — % Commercial: Other commercial 2,827 0.1 % Total $ 5,914 Three Months Ended March 31, 2023 Loan Modifications Balances (Amortized Cost Basis) at March 31, 2023 Combination - Term Extension and Combination - Term Interest Rate 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 $ 12,716 0.2 % $ — — % $ — — % $ — — % $ 12,716 0.2 % Commercial: Venture capital — — % — — % — — % 613 — % 613 — % Other commercial 2,057 0.2 % 45 — % — — % — — % 2,102 0.2 % Consumer — — % — — % 3 — % — — % 3 — % Total $ 14,773 $ 45 $ 3 $ 613 $ 15,434 |
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 March 31, 2024 Term Extension - Financial Effect Real estate mortgage: Commercial Extended maturity by a weighted average 5 months. Other residential Extended maturity by a weighted average 12 months. Commercial: Other commercial Extended maturity by a weighted average 3 months. Three Months Ended March 31, 2023 Term Extension - Financial Effect Real estate mortgage: Other residential Extended maturity by a weighted average seven months. Commercial: Other commercial Extended maturity by a weighted average 12 months. Three Months Ended March 31, 2023 Payment Delay - Financial Effect Commercial: Other commercial Provided six months of reduced payments to borrowers without extending the loan term. Three Months Ended March 31, 2023 Combination - Term Extension and Interest Rate Reduction - Financial Effect Consumer Extended maturity by a weighted average 2 years and reduced weighted average contractual interest rate from 9.5% to 2.0%. Three Months Ended March 31, 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 12 months with related amortized cost balances as of the date indicated: Payment Status (Amortized Cost Basis) at March 31, 2024 30-89 Days 90 or More Days Current Past Due Past Due Total (In thousands) Real estate mortgage: Commercial $ 2,250 $ — $ — $ 2,250 Other residential 2,953 90 1,715 4,758 Commercial: Other commercial 4,910 — — 4,910 Consumer 13 — — 13 Total $ 10,126 $ 90 $ 1,715 $ 11,931 |
Lease Income of Direct Financing Leases | The following table provides the components of leases receivable income for the periods indicated: Three Months Ended March 31, 2024 2023 (In thousands) Component of leases receivable income: Interest income on net investments in leases $ 4,735 $ 3,749 |
Assets and Liabilities, Lessor | The following table presents the components of leases receivable as of the dates indicated: March 31, 2024 December 31, 2023 (In thousands) Net Investment in Direct Financing Leases: Lease payments receivable $ 249,900 $ 249,223 Unguaranteed residual assets 25,915 25,488 Deferred costs and other 2,602 2,715 Aggregate net investment in leases $ 278,417 $ 277,426 |
Sales-type and Direct Financing Leases, Lease Receivable, Maturity | The following table presents maturities of leases receivable as of the date indicated: March 31, 2024 (In thousands) Period ending December 31, 2024 $ 65,235 2025 74,910 2026 56,555 2027 37,965 2028 22,188 Thereafter 24,315 Total undiscounted cash flows 281,168 Less: Unearned income (31,268) Present value of lease payments $ 249,900 |
Finance Receivable, Allowance For Loan Losses | The following tables present a summary of the activity in the allowance for loan and lease losses on loans and leases held for investment by loan portfolio segment for the periods indicated: Three Months Ended March 31, 2024 Real Estate Real Estate Construction Mortgage and Land Commercial Consumer Total (In thousands) Allowance for Loan and Lease Losses: Balance, beginning of period $ 186,827 $ 33,830 $ 45,156 $ 15,874 $ 281,687 Charge-offs (2,477) — (704) (1,833) (5,014) Recoveries 891 — 2,869 70 3,830 Net (charge-offs) recoveries (1,586) — 2,165 (1,763) (1,184) Provision 13,033 (3,819) (267) 2,053 11,000 Balance, end of period $ 198,274 $ 30,011 $ 47,054 $ 16,164 $ 291,503 Ending Allowance by Evaluation Methodology: Individually evaluated $ 8,336 $ — $ 7 $ — $ 8,343 Collectively evaluated $ 189,938 $ 30,011 $ 47,047 $ 16,164 $ 283,160 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 129,116 $ — $ 14,919 $ 4 $ 144,039 Collectively evaluated 15,838,283 3,245,354 5,805,648 439,698 25,328,983 Ending balance $ 15,967,399 $ 3,245,354 $ 5,820,567 $ 439,702 $ 25,473,022 Three Months Ended March 31, 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 (9,835) — (137) (425) (10,397) Recoveries 200 — 975 45 1,220 Net (charge-offs) recoveries (9,635) — 838 (380) (9,177) Provision 31,809 2,714 (16,492) 469 18,500 Balance, end of period $ 109,483 $ 55,034 $ 37,195 $ 8,343 $ 210,055 Ending Allowance by Evaluation Methodology: Individually evaluated $ — $ — $ — $ — $ — Collectively evaluated $ 109,483 $ 55,034 $ 37,195 $ 8,343 $ 210,055 Ending Loans and Leases by Evaluation Methodology: Individually evaluated $ 82,835 $ — $ 2,616 $ — $ 85,451 Collectively evaluated 15,324,776 4,608,440 5,226,491 427,223 25,586,930 Ending balance $ 15,407,611 $ 4,608,440 $ 5,229,107 $ 427,223 $ 25,672,381 |
Collateral-dependent Finance Receivable | The following table summarizes collateral-dependent loans held for investment by collateral type as of the following dates: March 31, 2024 December 31, 2023 Real Business Real Business Property Assets Consumer Total Property Assets Total (In thousands) Real estate mortgage $ 130,567 $ — $ — $ 130,567 $ 47,952 $ — $ 47,952 Commercial — 3,153 — 3,153 — 3,616 3,616 Consumer — — 4 4 — — — Total $ 130,567 $ 3,153 $ 4 $ 133,724 $ 47,952 $ 3,616 $ 51,568 |
Allowance for credit losses on financing receivables | The following tables present a summary of the activity in the allowance for loan and lease losses and reserve for unfunded loan commitments for the periods indicated: Three Months Ended March 31, 2024 Allowance for Reserve for Total Loan and Unfunded Loan Allowance for Lease Losses Commitments Credit Losses (In thousands) Balance, beginning of period $ 281,687 $ 29,571 $ 311,258 Charge-offs (5,014) — (5,014) Recoveries 3,830 — 3,830 Net charge-offs (1,184) — (1,184) Provision 11,000 (1,000) 10,000 Balance, end of period $ 291,503 $ 28,571 $ 320,074 Three Months Ended March 31, 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 (10,397) — (10,397) Recoveries 1,220 — 1,220 Net charge-offs (9,177) — (9,177) Provision 18,500 (15,500) 3,000 Balance, end of period $ 210,055 $ 75,571 $ 285,626 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 (In thousands) Gross Amount of CDI and CRI: Balance, beginning of period $ 236,264 $ 91,550 Fully amortized portion — (750) Balance, end of period 236,264 90,800 Accumulated Amortization: Balance, beginning of period (70,787) (60,169) Amortization expense (8,251) (2,411) Fully amortized portion — 750 Balance, end of period (79,038) (61,830) Net CDI and CRI, end of period $ 157,226 $ 28,970 |
Other Assets (Tables)
Other Assets (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Other Assets [Abstract] | |
Schedule of Other Assets | The following table presents the detail of our other assets as of the dates indicated: March 31, December 31, Other Assets 2024 2023 (In thousands) LIHTC investments $ 335,584 $ 347,478 Interest receivable 138,258 138,522 Operating lease ROU assets, net (1) 125,383 133,126 SBIC investments 112,982 105,433 Equity investments without readily determinable fair values 71,392 71,332 Prepaid expenses 43,412 43,498 Taxes receivable 26,090 34,268 HLBV investments 18,112 18,442 Foreclosed assets, net 12,488 7,394 Equity warrants (2) 3,708 3,689 Equity investments with readily determinable fair values 1 1 Other receivables/assets 206,973 228,066 Total other assets $ 1,094,383 $ 1,131,249 ____________________ (1) See Note 7. Leases for further details regarding the operating lease ROU assets. (2) See Note 9. Derivatives for information regarding equity warrants. |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 (In thousands) Operating lease expense: Fixed costs $ 9,435 $ 7,748 Variable costs 48 35 Short-term lease costs 66 357 Sublease income (1,196) (712) Net lease expense $ 8,353 $ 7,428 |
Schedule of Cash Flow, Supplemental Disclosures | The following table presents supplemental cash flow information related to leases for the periods indicated: Three Months Ended March 31, 2024 2023 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 7,746 $ 8,963 ROU assets obtained in exchange for lease obligations: Operating leases $ 1,183 $ 2,196 |
Schedule of Supplemental Balance Sheet Information Related to Operating Leases | The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated: March 31, December 31, 2024 2023 (Dollars in thousands) Operating leases: Operating lease right-of-use assets, net $ 125,383 $ 133,126 Operating lease liabilities $ 153,298 $ 161,308 Weighted average remaining lease term (in years) 6.0 6.1 Weighted average discount rate 3.41 % 3.40 % |
Schedule of Maturities of Operating Leases | The following table presents the maturities of operating lease liabilities as of the date indicated: March 31, 2024 (In thousands) Period ending December 31, 2024 $ 30,606 2025 34,841 2026 28,152 2027 20,386 2028 16,248 Thereafter 41,304 Total operating lease liabilities 171,537 Less: Imputed interest (18,239) Present value of operating lease liabilities $ 153,298 |
Schedule of Payments to be Received on Operating Leases | The following table presents the rental payments to be received on operating leases as of the date indicated: March 31, 2024 (In thousands) Year Ending December 31, 2024 $ 34,210 2025 39,965 2026 35,321 2027 28,349 2028 24,223 Thereafter 64,371 Total undiscounted cash flows $ 226,439 |
Borrowings and Subordinated D_2
Borrowings and Subordinated Debentures (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Debt Disclosure [Abstract] | |
Schedule of debt | The following table summarizes our borrowings as of the dates indicated: March 31, 2024 December 31, 2023 Weighted Weighted Average Average Balance Rate Balance Rate (Dollars in thousands) Bank Term Funding Program $ 1,545,000 5.40 % $ 2,618,300 4.37 % Senior notes 174,000 5.25 % 174,000 5.25 % Credit-linked notes 123,824 16.03 % 123,116 16.02 % FHLB secured advances 300,000 4.45 % — — % Total borrowings 2,142,824 5.87 % 2,915,416 4.92 % Acquisition discount on senior notes (3,326) (4,094) Total borrowings, net $ 2,139,498 $ 2,911,322 |
Schedule of Subordinated Borrowing | The following table summarizes the terms of each issuance of subordinated debt outstanding as of the dates indicated: March 31, 2024 December 31, 2023 Date Maturity Rate Index Series Balance Rate (1) Balance Rate (1) Issued Date (Quarterly Reset) (Dollars in thousands) Subordinated notes, net (2) $ 380,783 3.25 % $ 380,651 3.25 % 4/30/2021 5/1/2031 Fixed rate (3) Subordinated notes 75,000 4.375 % 75,000 4.375 % 10/30/2020 10/30/2030 Fixed rate (6) Trust V 10,310 8.69 % 10,310 8.74 % 8/15/2003 9/17/2033 3-month Term SOFR + 3.10 Trust VI 10,310 8.64 % 10,310 8.70 % 9/3/2003 9/15/2033 3-month Term SOFR + 3.05 Trust CII 5,155 8.54 % 5,155 8.59 % 9/17/2003 9/17/2033 3-month Term SOFR + 2.95 Trust VII 61,856 8.33 % 61,856 8.40 % 2/5/2004 4/23/2034 3-month Term SOFR + 2.75 Trust CIII 20,619 7.28 % 20,619 7.34 % 8/15/2005 9/15/2035 3-month Term SOFR + 1.69 Trust FCCI 16,495 7.19 % 16,495 7.25 % 1/25/2007 3/15/2037 3-month Term SOFR + 1.60 Trust FCBI 10,310 7.14 % 10,310 7.20 % 9/30/2005 12/15/2035 3-month Term SOFR + 1.55 Trust CS 2005-1 82,475 7.54 % 82,475 7.60 % 11/21/2005 12/15/2035 3-month Term SOFR + 1.95 Trust CS 2005-2 128,866 7.53 % 128,866 7.60 % 12/14/2005 1/30/2036 3-month Term SOFR + 1.95 Trust CS 2006-1 51,545 10.45 % 51,545 10.45 % 2/22/2006 4/30/2036 Prime + 1.95 Trust CS 2006-2 51,550 7.53 % 51,550 7.60 % 9/27/2006 10/30/2036 3-month Term SOFR + 1.95 Trust CS 2006-3 (4) 27,811 5.94 % 28,453 6.00 % 9/29/2006 10/30/2036 3-month EURIBOR + 2.05 Trust CS 2006-4 16,470 10.55 % 16,470 10.45 % 12/5/2006 1/30/2037 Prime + 1.95 Trust CS 2006-5 6,650 7.53 % 6,650 7.60 % 12/19/2006 1/30/2037 3-month Term SOFR + 1.95 Trust CS 2007-2 39,177 7.53 % 39,177 7.60 % 6/13/2007 7/30/2037 3-month Term SOFR + 1.95 PMB Statutory Trust III 7,217 8.97 % 7,217 9.02 % 9/16/2002 9/26/2032 3-month Term SOFR + 3.40 PMB Capital Trust III 10,310 7.60 % 10,310 7.66 % 10/4/2004 10/8/2034 3-month Term SOFR + 2.00 Total subordinated debt 1,012,909 5.90 % 1,013,419 5.93 % Acquisition discount (5) (75,192) (76,820) Net subordinated debt $ 937,717 $ 936,599 ___________________ (1) Rates do not include the effects of discounts and issuance costs. (2) Net of unamortized issuance costs of $4.2 million. (3) Interest rate is fixed until May 1, 2026, when it changes to a floating rate and resets quarterly at a benchmark rate plus 252 basis points. (4) Denomination is in Euros with a value of €25.8 million. (5) Amount represents the fair value adjustment on trust preferred securities assumed in acquisitions. (6) Interest rate is fixed until October 30, 2025, when it changes to a floating rate equal to a benchmark rate, which is expected to be 3-month Term SOFR, plus a spread of 419.5 basis points. |
Derivatives (Tables)
Derivatives (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Derivatives [Abstract] | |
Schedule of Derivative Instruments | The following table presents the U.S. dollar notional amounts and fair values of our derivative instruments included in the condensed consolidated balance sheets as of the dates indicated: March 31, 2024 December 31, 2023 Notional Fair Notional Fair Amount Value Amount Value (In thousands) Derivative Assets: Interest rate contracts $ 466,990 $ 9,035 $ 168,850 $ 6,426 Foreign exchange contracts 42,417 1,170 45,742 1,883 Interest rate and economic contracts 509,407 10,205 214,592 8,309 Equity warrant assets 16,944 3,708 17,008 3,869 Total $ 526,351 $ 13,913 $ 231,600 $ 12,178 Derivative Liabilities: Interest rate contracts $ 166,990 $ 7,262 $ 468,850 $ 10,421 Foreign exchange contracts 42,417 75 45,742 128 Total $ 209,407 $ 7,337 $ 514,592 $ 10,549 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments disclosure | The following table presents a summary of commitments described below as of the dates indicated: March 31, December 31, 2024 2023 (In thousands) Loan commitments to extend credit $ 5,482,672 $ 5,578,907 Standby letters of credit 248,485 252,572 Total $ 5,731,157 $ 5,831,479 |
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: March 31, 2024 (In thousands) Period ending December 31, 2024 $ 36,445 2025 36,444 Total $ 72,889 |
Fair Value Election (Tables)
Fair Value Election (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, Credit-Linked Notes 2024 2023 (In thousands) Changes in fair value - losses (gains) included in earnings $ 348 $ (1,998) Changes in fair value - other comprehensive loss $ 1,251 $ — |
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: March 31, December 31, Credit-Linked Notes 2024 2023 (In thousands) Carrying value reported on the consolidated balance sheets $ 123,824 $ 123,116 Aggregate unpaid principal balance (less than) in excess of fair value $ (120) $ 1,479 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Fair Value Disclosures [Abstract] | |
Fair value, assets measured on recurring basis | The following tables present information on the assets and liabilities measured and recorded at fair value on a recurring basis as of the dates indicated: Fair Value Measurements as of March 31, 2024 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available-for-sale: Agency residential MBS $ 1,137,469 $ — $ 1,137,469 $ — Agency commercial MBS 243,387 — 243,387 — Agency residential CMOs 281,569 — 281,569 — Municipal securities 33,259 — 33,259 — Corporate debt securities 277,198 — 275,098 2,100 Private label residential CMOs 153,412 — 153,412 — Collateralized loan obligations 109,078 — 109,078 — Private label commercial MBS 19,491 — 19,491 — Asset-backed securities 18,908 — 18,908 — SBA securities 12,911 — 12,911 — Total securities available-for-sale $ 2,286,682 $ — $ 2,284,582 $ 2,100 Equity investments with readily determinable fair values $ 1 $ 1 $ — $ — Derivatives (1) : Equity warrants 3,708 — — 3,708 Interest rate and economic contracts 10,205 — 10,205 — Derivative liabilities 7,337 — 7,337 — Credit-linked notes 123,824 — — 123,824 Fair Value Measurements as of December 31, 2023 Measured on a Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Securities available-for-sale: Agency residential MBS $ 1,187,609 $ — $ 1,187,609 $ — U.S. Treasury securities 4,968 4,968 — — Agency commercial MBS 253,306 — 253,306 — Agency residential CMOs 284,334 — 284,334 — Municipal securities 28,083 — 28,083 — Corporate debt securities 267,232 — 226,983 40,249 Private label residential CMOs 158,412 — 158,412 — Collateralized loan obligations 108,416 — 108,416 — Private label commercial MBS 20,813 — 20,813 — Asset-backed securities 19,952 — 19,952 — SBA securities 13,739 — 13,739 — Total securities available-for-sale $ 2,346,864 $ 4,968 $ 2,301,647 $ 40,249 Equity investments with readily determinable fair values $ 1 $ 1 $ — $ — Derivatives (1) : Equity warrants 3,689 — — 3,689 Interest rate and economic contracts 8,309 — 8,309 — Derivative liabilities 10,549 — 10,549 — Credit-linked notes 123,116 — — 123,116 ____________________ (1) For information regarding derivative instruments, see Note 9. Derivatives . |
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: March 31, 2024 Equity Warrants Weighted Range Average Unobservable Inputs of Inputs Input (1) Volatility 19.0% - 196.9% 26.7% Risk-free interest rate 4.2% - 5.5% 4.5% Remaining life assumption (in years) 0.08 - 4.97 3.24 ____________________ (1) Unobservable inputs for equity warrants were weighted by the relative fair values of the instruments. The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis as of the date indicated: March 31, 2024 Valuation Unobservable Input or Weighted Asset Fair Value Technique Inputs Range Average (In thousands) Individually evaluated loans and leases 3,037 Third-party appraisals No discounts Total non-recurring Level 3 $ 3,037 |
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, 2023 $ 40,249 $ 3,689 $ 123,116 Total included in earnings — 178 348 Total included in other comprehensive income — — 1,251 Issuances — 115 — Principal payments — — (891) Transfer to Level 2 (38,149) — — Exercises and settlements — (272) — Transfers to Level 1 (equity investments with readily determinable fair values) — (2) — Balance, March 31, 2024 $ 2,100 $ 3,708 $ 123,824 Unrealized net gains (losses) for the period included in other comprehensive income for securities held at quarter-end $ (900) |
Assets carried at fair value on a nonrecurring basis | The following tables present assets measured at fair value on a non-recurring basis as of the dates indicated: Fair Value Measurement as of March 31, 2024 Measured on a Non-Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases $ 5,639 $ — $ 2,602 $ 3,037 OREO 2,511 — 2,511 — Total non-recurring $ 8,150 $ — $ 5,113 $ 3,037 Fair Value Measurement as of December 31, 2023 Measured on a Non-Recurring Basis Total Level 1 Level 2 Level 3 (In thousands) Individually evaluated loans and leases $ 6,402 $ — $ 4,051 $ 2,351 OREO 3,422 — 3,422 — Total non-recurring $ 9,824 $ — $ 7,473 $ 2,351 |
Net losses (gains) on nonrecurring assets | The following table presents losses recognized on assets measured on a nonrecurring basis for the periods indicated: Three Months Ended Losses on Assets March 31, Measured on a Non-Recurring Basis 2024 2023 (In thousands) Individually evaluated loans and leases $ 832 $ 4,911 OREO 297 — Total losses $ 1,129 $ 4,911 |
Fair value, by balance sheet grouping | The following tables present carrying amounts and estimated fair values of certain financial instruments as of the dates indicated: March 31, 2024 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 199,922 $ 199,922 $ 199,922 $ — $ — Interest-earning deposits in financial institutions 2,885,306 2,885,306 2,885,306 — — Securities available-for-sale 2,286,682 2,286,682 — 2,284,582 2,100 Securities held-to-maturity 2,291,984 2,153,349 172,338 1,963,818 17,193 Investment in FRB and FHLB stock 129,314 129,314 — 129,314 — Loans held for sale 80,752 82,383 — 82,383 — Loans and leases held for investment, net 25,181,519 23,553,410 — 2,602 23,550,808 Equity investments with readily determinable fair values 1 1 1 — — Equity warrants 3,708 3,708 — — 3,708 Interest rate and economic contracts 10,205 10,205 — 10,205 — Servicing rights 21,384 22,242 — — 22,242 Financial Liabilities: Demand, checking, money market, and savings deposits 22,706,213 22,706,213 — 22,706,213 — Time deposits 6,186,194 6,260,651 — 6,260,651 — Borrowings 2,139,498 2,135,757 — 2,011,933 123,824 Subordinated debt 937,717 850,984 — 850,984 — Derivative liabilities 7,337 7,337 — 7,337 — December 31, 2023 Carrying Estimated Fair Value Amount Total Level 1 Level 2 Level 3 ( In thousands ) Financial Assets: Cash and due from banks $ 202,427 $ 202,427 $ 202,427 $ — $ — Interest-earning deposits in financial institutions 5,175,149 5,175,149 5,175,149 — — Securities available-for-sale 2,346,864 2,346,864 4,968 2,301,647 40,249 Securities held-to-maturity 2,287,291 2,168,316 175,579 1,976,015 16,722 Investment in FRB and FHLB stock 126,346 126,346 — 126,346 — Loans held for sale 122,757 126,646 — 126,646 — Loans and leases held for investment, net 25,208,000 23,551,725 — 4,051 23,547,674 Equity investments with readily determinable fair values 1 1 1 — — Equity warrants 3,689 3,689 — — 3,689 Interest rate and economic contracts 8,309 8,309 — 8,309 — Servicing rights 22,174 22,174 — — 22,174 Financial Liabilities: Demand, checking, money market, and savings deposits 23,768,896 23,768,896 — 23,768,896 — Time deposits 6,632,873 6,732,246 — 6,732,246 — Borrowings 2,911,322 2,908,527 — 2,785,411 123,116 Subordinated debt 936,599 851,625 — 851,625 — Derivative liabilities 10,549 10,549 — 10,549 — |
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: March 31, 2024 Corporate Debt Securities Input or Weighted Range Average Unobservable Inputs of Inputs Input (1) Spread to 10 Year Treasury 6.3% - 8.8% 7.6% Discount rates 10.5% - 13.0% 11.8% |
Earnings (Loss) Per Share (Tabl
Earnings (Loss) Per Share (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Earnings Per Share [Abstract] | |
Net income per share | The following table presents the computations of basic and diluted net earnings (loss) per share for the periods indicated: Three Months Ended March 31, 2024 2023 (In thousands, except per share amounts) Non-Voting Class B Common Voting Non-Voting Stock Total Total Common Common Equivalents Common Common (2) Basic Earnings (Loss) Per Share: Net earnings (loss) available to common and equivalent stockholders $ 19,521 $ 59 $ 1,325 $ 20,905 $ (1,205,371) Less: Earnings allocated to unvested restricted stock (1) (53) — — (53) (319) Net earnings (loss) allocated to common and equivalent shares $ 19,468 $ 59 $ 1,325 $ 20,852 $ (1,205,690) Weighted average basic shares and unvested restricted stock outstanding 157,838 477 10,658 168,973 78,985 Less: weighted average unvested restricted stock outstanding (830) — — (830) (1,517) Weighted average basic shares outstanding 157,008 477 10,658 168,143 77,468 Basic earnings (loss) per share $ 0.12 $ 0.12 $ 0.12 $ 0.12 $ (15.56) Diluted Earnings (Loss) Per Share: Net earnings (loss) allocated to common and equivalent shares $ 19,468 $ 59 $ 1,325 $ 20,852 $ (1,205,690) Weighted average diluted shares outstanding 157,008 477 10,658 168,143 77,468 Diluted earnings (loss) per share $ 0.12 $ 0.12 $ 0.12 $ 0.12 $ (15.56) ________________________ (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. (2) Share amounts for the three months ended March 31, 2023 have been restated by multiplying historical amounts by the Merger exchange ratio of 0.6569. |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following table presents the weighted average outstanding restricted shares and warrants that were not included in the computation of diluted earnings (loss) per share because their effect would be anti-dilutive for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 (In thousands) Restricted stock awards and units (1) 830 1,517 Warrants 18,902 — ____________________________ |
Revenue From Contracts With C_2
Revenue From Contracts With Customers (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Revenue From Contracts With Customers [Abstract] | |
Revenue From Contracts With Customers | Disaggregation of Revenue The following table presents interest income and noninterest income, the components of total revenue, as disclosed in the condensed consolidated statements of earnings (loss) and the related amounts which are from contracts with customers within the scope of ASC Topic 606, " Revenue from Contracts with Customers," for the periods indicated. As illustrated here, substantially all of our revenue is specifically excluded from the scope of ASC Topic 606. Three Months Ended March 31, 2024 2023 Total Revenue from Total Revenue from Recorded Contracts with Recorded Contracts with Revenue Customers Revenue Customers (In thousands) Total Interest Income $ 478,704 $ — $ 517,788 $ — Noninterest Income: Service charges on deposit accounts 4,705 4,705 3,573 3,573 Other commissions and fees 8,142 4,983 10,344 4,432 Leased equipment income 11,716 — 13,857 — (Loss) gain on sale of loans (448) — 2,962 — Dividends and gains on equity investments 3,068 — 1,098 — Warrant income (loss) 178 — (333) — LOCOM HFS adjustment 330 — — — Other income 6,125 93 4,890 269 Total noninterest income 33,816 9,781 36,391 8,274 Total Revenue $ 512,520 $ 9,781 $ 554,179 $ 8,274 The following table presents revenue from contracts with customers based on the timing of revenue recognition for the periods indicated: Three Months Ended March 31, 2024 2023 (In thousands) Products and services transferred at a point in time $ 4,878 $ 4,352 Products and services transferred over time 4,903 3,922 Total revenue from contracts with customers $ 9,781 $ 8,274 Contract Balances The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers as of the dates indicated: March 31, 2024 December 31, 2023 (In thousands) Receivables, which are included in "Other assets" $ 1,354 $ 1,615 Contract liabilities, which are included in "Accrued interest payable and other liabilities" $ 401 $ 418 Contract liabilities relate to advance consideration received from customers for which revenue is recognized over the life of the contract. The change in contract liabilities for the three months ended March 31, 2024 due to revenue recognized that was included in the contract liability balance at the beginning of the period was $17,000 |
Contract with Customer, Asset and Liability | The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers as of the dates indicated: March 31, 2024 December 31, 2023 (In thousands) Receivables, which are included in "Other assets" $ 1,354 $ 1,615 Contract liabilities, which are included in "Accrued interest payable and other liabilities" $ 401 $ 418 |
Recently Issued Accounting St_2
Recently Issued Accounting Standards (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Recently Issued Accounting Standards [Abstract] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles |
Organization - Narrative (Detai
Organization - Narrative (Details) $ in Millions | Mar. 31, 2024 bank_branch | Apr. 30, 2021 USD ($) |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Retail Branch Locations | bank_branch | 90 | |
April 30, 2021 Issuance | ||
Debt Instrument [Line Items] | ||
Subordinated Debt | $ | $ 400 |
Restricted Cash Balances - Narr
Restricted Cash Balances - Narrative (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Restricted Cash and Cash Equivalents | $ 0 | $ 0 |
Pledged Cash for Derivative Contracts | 2.9 | 3.3 |
Cash Collateral | 124.3 | $ 125.2 |
Standby Letters of Credit | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Restricted Cash And Restricted Cash Equivalents | $ 57.3 |
Investment Securities - Securit
Investment Securities - Securities Available for Sale (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | $ 2,657,281 | $ 2,699,255 |
Allowance for Credit Loss | (199) | (199) |
Net Carrying Amount | 2,657,082 | 2,699,056 |
Gross Unrealized Gains | 1,594 | 262 |
Gross Unrealized Losses | 371,994 | 352,454 |
Fair Value | 2,286,682 | 2,346,864 |
Agency residential MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 1,364,245 | 1,388,801 |
Allowance for Credit Loss | 0 | 0 |
Net Carrying Amount | 1,364,245 | 1,388,801 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 226,776 | 201,192 |
Fair Value | 1,137,469 | 1,187,609 |
Agency commercial MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 260,116 | 268,639 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 16,729 | 15,333 |
Fair Value | 243,387 | 253,306 |
Agency residential CMOs | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 317,605 | 320,984 |
Allowance for Credit Loss | 0 | 0 |
Net Carrying Amount | 317,605 | 320,984 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 36,036 | 36,650 |
Fair Value | 281,569 | 284,334 |
U.S. Treasury securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 4,965 | |
Allowance for Credit Loss | 0 | |
Net Carrying Amount | 4,965 | |
Gross Unrealized Gains | 3 | |
Gross Unrealized Losses | 0 | |
Fair Value | 4,968 | |
Municipal securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 34,645 | 29,192 |
Allowance for Credit Loss | 0 | 0 |
Net Carrying Amount | 34,645 | 29,192 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 1,386 | 1,109 |
Fair Value | 33,259 | 28,083 |
Collateralized loan obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 109,167 | 109,168 |
Allowance for Credit Loss | 0 | 0 |
Net Carrying Amount | 109,167 | 109,168 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 89 | 752 |
Fair Value | 109,078 | 108,416 |
Corporate Debt Securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 327,447 | 327,426 |
Allowance for Credit Loss | (199) | (199) |
Net Carrying Amount | 327,248 | 327,227 |
Gross Unrealized Gains | 1,592 | 259 |
Gross Unrealized Losses | 51,642 | 60,254 |
Fair Value | 277,198 | 267,232 |
Private label commercial MBS | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 20,725 | 22,126 |
Allowance for Credit Loss | 0 | 0 |
Net Carrying Amount | 20,725 | 22,126 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 1,234 | 1,313 |
Fair Value | 19,491 | 20,813 |
SBA securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 13,917 | 14,642 |
Allowance for Credit Loss | 0 | 0 |
Net Carrying Amount | 13,917 | 14,642 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 1,006 | 903 |
Fair Value | 12,911 | 13,739 |
Private Label Collateralized Mortgage Obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 190,508 | 193,071 |
Allowance for Credit Loss | 0 | 0 |
Net Carrying Amount | 190,508 | 193,071 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 37,096 | 34,659 |
Fair Value | 153,412 | 158,412 |
Asset-backed Securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 18,906 | 20,241 |
Allowance for Credit Loss | 0 | 0 |
Net Carrying Amount | 18,906 | 20,241 |
Gross Unrealized Gains | 2 | 0 |
Gross Unrealized Losses | 0 | 289 |
Fair Value | 18,908 | 19,952 |
Government agency and government-sponsored enterprise pass through securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Allowance for Credit Loss | 0 | 0 |
Net Carrying Amount | $ 260,116 | $ 268,639 |
Investment Securities - Unreali
Investment Securities - Unrealized Losses on Securities Available-for-Sale (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 0 | $ 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 2,173,331 | 2,298,565 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (371,994) | (352,454) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 2,173,331 | 2,298,565 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 371,994 | 352,454 |
Agency residential MBS | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,137,469 | 1,187,609 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (226,776) | (201,192) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 1,137,469 | 1,187,609 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 226,776 | 201,192 |
Agency commercial MBS | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 243,387 | 253,306 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (16,729) | (15,333) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 243,387 | 253,306 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 16,729 | 15,333 |
Agency residential CMOs | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 281,569 | 265,431 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (36,036) | (36,650) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 281,569 | 265,431 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 36,036 | 36,650 |
Municipal securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 33,259 | 284,334 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,386) | (1,109) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 33,259 | 284,334 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 1,386 | 1,109 |
Corporate Debt Securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 274,022 | 19,952 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (51,642) | (60,254) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 274,022 | 19,952 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 51,642 | 60,254 |
Collateralized loan obligations | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 17,811 | 66,886 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (89) | (752) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 17,811 | 66,886 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 89 | 752 |
Private label commercial MBS | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 19,491 | 28,083 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,234) | (1,313) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 19,491 | 28,083 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 1,234 | 1,313 |
SBA securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 12,911 | 13,739 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,006) | (903) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 12,911 | 13,739 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | 1,006 | 903 |
Private Label Collateralized Mortgage Obligations | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 153,412 | 158,412 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (37,096) | (34,659) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 153,412 | 158,412 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | $ 37,096 | 34,659 |
Asset-backed Securities | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 20,813 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (289) | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 20,813 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss, Total | $ 289 |
Investment Securities - Contrac
Investment Securities - Contractual Maturities of Securities Available-for-Sale (Details) $ in Thousands | Mar. 31, 2024 USD ($) |
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 | 229,342 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 539,587 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 1,888,352 |
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 | 216,470 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 481,305 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (1,588,907) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 2,657,281 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 2,286,682 |
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 | 1,364,245 |
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 | (1,137,469) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 1,364,245 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 1,137,469 |
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 | 168,889 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 73,834 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 17,393 |
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 | 159,271 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 67,780 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (16,336) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 260,116 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 243,387 |
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 | 36,144 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 15,122 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 266,339 |
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 | 33,651 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 14,020 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (233,898) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 317,605 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 281,569 |
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 | 16,878 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Five Years Through Ten Years | 17,767 |
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 | 16,411 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 16,848 |
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 | 34,645 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 33,259 |
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 | 322,447 |
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 | 4,825 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 272,373 |
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 | 327,447 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 277,198 |
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 | 109,167 |
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 | 0 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Five Years Through Ten Years | 109,078 |
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 | 109,167 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 109,078 |
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 | 1,250 |
Contractual Maturities of Securities Available-for-Sale, Amortized Cost, Due After Ten Years | 19,475 |
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 | 1,206 |
Contractual Maturities of Securities Available-for-Sale, Fair Value, Due After Ten Years | (18,285) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 20,725 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 19,491 |
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 | 2,431 |
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 | 11,486 |
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 | 2,312 |
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 | (10,599) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 13,917 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 12,911 |
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 | 190,508 |
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 | (153,412) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 190,508 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 153,412 |
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 | 18,906 |
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 | (18,908) |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 18,906 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | $ 18,908 |
Investment Securities - Secur_2
Investment Securities - Securities Held-to-Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 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 | $ 2,293,484 | [1] | $ 2,288,791 | [2] | ||
Debt Securities, Held-to-Maturity, Allowance for Credit Loss, Excluding Accrued Interest | (1,500) | [1] | (1,500) | [2] | $ (1,500) | $ (1,500) |
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, after Allowance for Credit Loss, Total | 2,291,984 | [1] | 2,287,291 | [2] | ||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 676 | [1] | 1,760 | [2] | ||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (139,311) | [1] | (120,735) | [2] | ||
Securities held to maturity, fair value | 2,153,349 | [1] | 2,168,316 | [2] | ||
Municipal securities | ||||||
Schedule of Held-to-maturity Securities [Line Items] | ||||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 1,248,355 | 1,247,310 | ||||
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 | 1,248,215 | 1,247,170 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 676 | 1,760 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (42,079) | (28,170) | ||||
Securities held to maturity, fair value | 1,206,812 | 1,220,760 | ||||
Agency commercial MBS | ||||||
Schedule of Held-to-maturity Securities [Line Items] | ||||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 435,467 | 433,827 | ||||
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 | 435,467 | 433,827 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (34,619) | (30,665) | ||||
Securities held to maturity, fair value | 400,848 | 403,162 | ||||
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 | 351,688 | 350,493 | ||||
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 | 351,688 | 350,493 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (28,499) | (29,289) | ||||
Securities held to maturity, fair value | 323,189 | 321,204 | ||||
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 | 187,759 | 187,033 | ||||
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 | 187,759 | 187,033 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (15,421) | (11,454) | ||||
Securities held to maturity, fair value | 172,338 | 175,579 | ||||
Corporate Debt Securities | ||||||
Schedule of Held-to-maturity Securities [Line Items] | ||||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 70,215 | 70,128 | ||||
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 | 68,855 | 68,768 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 | ||||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (18,693) | (21,157) | ||||
Securities held to maturity, fair value | 50,162 | 47,611 | ||||
Interest Receivable | $ 11,300 | $ 13,400 | ||||
[1]Excludes accrued interest receivable of $11.3 million at March 31, 2024 which is recorded in "Other assets" on the condensed consolidated balance sheets[2]Excludes accrued interest receivable of $13.4 million at December 31, 2023 which is recorded in "Other assets" on the condensed consolidated balance sheets |
Investment Securities - Secur_3
Investment Securities - Securities Held-to-Maturity Allowance for Credit Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |||
Schedule of Held-to-maturity Securities [Line Items] | |||||
Allowance for Credit Losses, Beginning of Period | $ 1,500 | [1] | $ 1,500 | ||
Provision for Credit Losses | 0 | 0 | |||
Charge-offs | 0 | 0 | |||
Recoveries | 0 | 0 | |||
Allowance for Credit Losses, End of Period | 1,500 | [2] | 1,500 | ||
Securities held to maturity, fair value | 2,153,349 | [2] | $ 2,168,316 | [1] | |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 676 | [2] | 1,760 | [1] | |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (139,311) | [2] | (120,735) | [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 | ||||
Securities held to maturity, fair value | 172,338 | 175,579 | |||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 | |||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (15,421) | (11,454) | |||
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 | ||||
Securities held to maturity, fair value | 1,206,812 | 1,220,760 | |||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 676 | 1,760 | |||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (42,079) | (28,170) | |||
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 | ||||
Securities held to maturity, fair value | 400,848 | 403,162 | |||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 | |||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (34,619) | (30,665) | |||
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 | ||||
Securities held to maturity, fair value | 323,189 | 321,204 | |||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 | |||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (28,499) | (29,289) | |||
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 | ||||
Securities held to maturity, fair value | 50,162 | 47,611 | |||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 | |||
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (18,693) | $ (21,157) | |||
Municipal securities | |||||
Schedule of Held-to-maturity Securities [Line Items] | |||||
Allowance for Credit Losses, Beginning of Period | 140 | 140 | |||
Provision for Credit Losses | 0 | 0 | |||
Charge-offs | 0 | 0 | |||
Recoveries | 0 | 0 | |||
Allowance for Credit Losses, End of Period | 140 | 140 | |||
Corporate Debt Securities | |||||
Schedule of Held-to-maturity Securities [Line Items] | |||||
Allowance for Credit Losses, Beginning of Period | 1,360 | 1,360 | |||
Provision for Credit Losses | 0 | 0 | |||
Charge-offs | 0 | 0 | |||
Recoveries | 0 | 0 | |||
Allowance for Credit Losses, End of Period | $ 1,360 | $ 1,360 | |||
[1]Excludes accrued interest receivable of $13.4 million at December 31, 2023 which is recorded in "Other assets" on the condensed consolidated balance sheets[2]Excludes accrued interest receivable of $11.3 million at March 31, 2024 which is recorded in "Other assets" on the condensed consolidated balance sheets |
Investment Securities - Secur_4
Investment Securities - Securities Held-to-Maturity Credit Quality Indicators (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | ||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | $ 2,293,484 | [1] | $ 2,288,791 | [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 | 915,954 | 914,620 | ||
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 | 1,022,729 | 1,018,402 | ||
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 | 166,758 | 167,905 | ||
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 | 1,783 | 1,787 | ||
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 | ||
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 | 44,405 | 44,371 | ||
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 | 43,520 | 43,456 | ||
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 | 86,334 | 86,243 | ||
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 | 12,001 | 12,007 | ||
Municipal securities | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 1,248,355 | 1,247,310 | ||
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 | 564,266 | 564,127 | ||
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 | 399,503 | 397,542 | ||
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 | 166,758 | 167,905 | ||
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 | 1,783 | 1,787 | ||
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 | 17,710 | 17,699 | ||
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 | 86,334 | 86,243 | ||
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 | 12,001 | 12,007 | ||
Agency commercial MBS | ||||
Schedule of Held-to-maturity Securities [Line Items] | ||||
Debt Securities, Held-to-Maturity, Excluding Accrued Interest, before Allowance for Credit Loss | 435,467 | 433,827 | ||
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 | 435,467 | 433,827 | ||
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 | 351,688 | 350,493 | ||
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 | 351,688 | 350,493 | ||
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 | 187,759 | 187,033 | ||
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 | 187,759 | 187,033 | ||
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 | 70,215 | 70,128 | ||
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 | 0 | ||
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 | 44,405 | 44,371 | ||
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 | 25,810 | 25,757 | ||
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 $11.3 million at March 31, 2024 which is recorded in "Other assets" on the condensed consolidated balance sheets[2]Excludes accrued interest receivable of $13.4 million at December 31, 2023 which is recorded in "Other assets" on the condensed consolidated balance sheets |
Investment Securities - Secur_5
Investment Securities - Securities Held-to-Maturity Contractual Maturities (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | ||
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 | 17,710 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Rolling after One through Five Years | 1,063,997 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year 10 | 1,211,777 | |||
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 | 17,550 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 993,507 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 1,142,292 | |||
Securities held to maturity, fair value | 2,153,349 | [1] | $ 2,168,316 | [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 | 17,710 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, Rolling after One through Five Years | 394,075 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year 10 | 836,570 | |||
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 | 17,550 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 376,643 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 812,619 | |||
Securities held to maturity, fair value | 1,206,812 | 1,220,760 | ||
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 | 435,467 | |||
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 | 400,848 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 0 | |||
Securities held to maturity, fair value | 400,848 | 403,162 | ||
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 | 36,515 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year 10 | 315,173 | |||
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 | 34,328 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 288,861 | |||
Securities held to maturity, fair value | 323,189 | 321,204 | ||
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 | 187,759 | |||
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 | 172,338 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 0 | |||
Securities held to maturity, fair value | 172,338 | 175,579 | ||
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 | 10,181 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Maturity, Allocated and Single Maturity Date, after Year 10 | 60,034 | |||
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 | 9,350 | |||
Debt Securities, Held-to-Maturity, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 40,812 | |||
Securities held to maturity, fair value | $ 50,162 | $ 47,611 | ||
[1]Excludes accrued interest receivable of $11.3 million at March 31, 2024 which is recorded in "Other assets" on the condensed consolidated balance sheets[2]Excludes accrued interest receivable of $13.4 million at December 31, 2023 which is recorded in "Other assets" on the condensed consolidated balance sheets |
Investment Securities - Interes
Investment Securities - Interest Income on Investment Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Investments, Debt and Equity Securities [Abstract] | ||
Taxable interest | $ 27,601 | $ 38,692 |
Non-taxable interest | 4,720 | 4,903 |
Dividend income | 1,982 | 642 |
Total interest income on investment securities | $ 34,303 | $ 44,237 |
Investment Securities - Narrati
Investment Securities - Narrative (Details) $ in Millions | Mar. 31, 2024 USD ($) |
Held-to-maturity Securities | |
Schedule of Held-to-maturity Securities [Line Items] | |
Securities loaned, fair value of collateral | $ 2,100 |
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 | $ 771.1 |
Loans and Leases - Loans and Le
Loans and Leases - Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | |
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Loans and leases held for investment | $ 25,755,961 | $ 25,796,714 | |||
Deferred fees, net | (44,006) | (45,043) | |||
Loans held for investment, net | 25,473,022 | 25,489,687 | |||
Allowance for loan and lease losses | (291,503) | (281,687) | $ (210,055) | $ (200,732) | |
Loans and leases, net | [1] | 25,181,519 | 25,208,000 | ||
Land and Acquisitions and Development Loans | 235,700 | 228,900 | |||
Deferred Discounts, Finance Charges and Interest Included in Receivables | [2] | (238,933) | (261,984) | ||
Financing Receivable, Unamortized Purchase Premium (Discount) | (308,900) | (334,200) | |||
Financing Receivable, Unamortized Purchase Premium | 70,000 | 72,200 | |||
Real Estate Mortgage | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Loans and leases held for investment | 16,217,186 | 16,378,537 | |||
Allowance for loan and lease losses | (198,274) | (186,827) | (109,483) | (87,309) | |
Real Estate Construction and Land | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Loans and leases held for investment | [3] | 3,266,639 | 3,183,357 | ||
Allowance for loan and lease losses | (30,011) | (33,830) | (55,034) | (52,320) | |
Commercial | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Loans and leases held for investment | 5,831,666 | 5,780,346 | |||
Allowance for loan and lease losses | (47,054) | (45,156) | (37,195) | (52,849) | |
Consumer | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Loans and leases held for investment | 440,470 | 454,474 | |||
Allowance for loan and lease losses | (16,164) | (15,874) | $ (8,343) | $ (8,254) | |
Loans and Finance Receivables [Member] | |||||
Financing Receivable, Credit Quality Indicator [Line Items] | |||||
Interest Receivable | $ 109,300 | $ 111,300 | |||
[1]Excludes accrued interest receivable of $109.3 million and $111.3 million at March 31, 2024 and December 31, 2023, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets.[2]Represents net acquisition discounts of $308.9 million and purchase premiums of $70.0 million at March 31, 2024, and net acquisition discounts of $334.2 million and purchase premiums of $72.2 million at December 31, 2023[3]Includes land and acquisition and development loans of $235.7 million and $228.9 million at March 31, 2024 and December 31, 2023 |
Loans and Leases - Aging Analys
Loans and Leases - Aging Analysis of Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 |
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | $ 25,473,022 | $ 25,489,687 | $ 25,672,381 |
Financing Receivable Recorded Investment Total Past Due | 235,994 | 144,188 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 25,237,028 | 25,345,499 | |
30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 178,421 | 113,307 | |
90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 57,573 | 30,881 | |
Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 15,967,399 | 16,111,985 | 15,407,611 |
Financing Receivable Recorded Investment Total Past Due | 199,641 | 128,491 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 15,767,758 | 15,983,494 | |
Real Estate Mortgage | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 153,417 | 107,962 | |
Real Estate Mortgage | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 46,224 | 20,529 | |
Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,245,354 | 3,159,269 | 4,608,440 |
Financing Receivable Recorded Investment Total Past Due | 4,606 | 0 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 3,240,748 | 3,159,269 | |
Real Estate Construction and Land | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 4,606 | 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 | 5,820,567 | 5,765,307 | 5,229,107 |
Financing Receivable Recorded Investment Total Past Due | 28,353 | 11,566 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 5,792,214 | 5,753,741 | |
Commercial | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 17,588 | 1,884 | |
Commercial | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 10,765 | 9,682 | |
Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 439,702 | 453,126 | $ 427,223 |
Financing Receivable Recorded Investment Total Past Due | 3,394 | 4,131 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 436,308 | 448,995 | |
Consumer | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 2,810 | 3,461 | |
Consumer | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 584 | 670 | |
Asset Based [Member] | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,061,016 | 2,189,085 | |
Financing Receivable Recorded Investment Total Past Due | 14,026 | 3,297 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 2,046,990 | 2,185,788 | |
Asset Based [Member] | Commercial | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 11,701 | 608 | |
Asset Based [Member] | Commercial | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 2,325 | 2,689 | |
Venture Capital Loans | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,513,641 | 1,446,362 | |
Financing Receivable Recorded Investment Total Past Due | 0 | 0 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 1,513,641 | 1,446,362 | |
Venture Capital Loans | Commercial | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 0 | 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 | 2,245,910 | 2,129,860 | |
Financing Receivable Recorded Investment Total Past Due | 14,327 | 8,269 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 2,231,583 | 2,121,591 | |
Other Commercial | Commercial | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 5,887 | 1,276 | |
Other Commercial | Commercial | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 8,440 | 6,993 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 775,021 | 759,585 | |
Financing Receivable Recorded Investment Total Past Due | 0 | 0 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 775,021 | 759,585 | |
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 | 2,470,333 | 2,399,684 | |
Financing Receivable Recorded Investment Total Past Due | 4,606 | 0 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 2,465,727 | 2,399,684 | |
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 | 4,606 | 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 | 4,896,544 | 5,026,497 | |
Financing Receivable Recorded Investment Total Past Due | 76,041 | 27,786 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 4,820,503 | 4,998,711 | |
Commercial | Real Estate Mortgage | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 69,213 | 12,618 | |
Commercial | Real Estate Mortgage | 90 Or More Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
90 or More Days Past Due | 6,828 | 15,168 | |
Multi-Family Real Estate Loans | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 6,121,472 | 6,025,179 | |
Financing Receivable Recorded Investment Total Past Due | 9,046 | 3,322 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 6,112,426 | 6,021,857 | |
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 | 9,046 | 2,302 | |
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 | 1,020 | |
Other Residential Real Estate | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 4,949,383 | 5,060,309 | |
Financing Receivable Recorded Investment Total Past Due | 114,554 | 97,383 | |
Loans And Leases Receivable Net Of Deferred Income, Not Past Due | 4,834,829 | 4,962,926 | |
Other Residential Real Estate | Real Estate Mortgage | 30 TO 89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
30-89 Days Past Due | 75,158 | 93,042 | |
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 | $ 39,396 | $ 4,341 |
Loans and Leases - Nonaccrual a
Loans and Leases - Nonaccrual and Performing Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 |
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | $ 145,785 | $ 62,527 | $ 87,124 |
Loans held for investment, net | 25,473,022 | 25,489,687 | 25,672,381 |
Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 129,234 | 47,730 | 83,056 |
Loans held for investment, net | 15,967,399 | 16,111,985 | 15,407,611 |
Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 0 | 0 | 0 |
Loans held for investment, net | 3,245,354 | 3,159,269 | 4,608,440 |
Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 15,715 | 13,986 | 3,543 |
Loans held for investment, net | 5,820,567 | 5,765,307 | 5,229,107 |
Consumer | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 836 | 811 | 525 |
Loans held for investment, net | 439,702 | 453,126 | $ 427,223 |
Performing | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 25,327,237 | 25,427,160 | |
Performing | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 15,838,165 | 16,064,255 | |
Performing | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 3,245,354 | 3,159,269 | |
Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 5,804,852 | 5,751,321 | |
Performing | Consumer | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 438,866 | 452,315 | |
Venture Capital Loans | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 0 | 325 | |
Loans held for investment, net | 1,513,641 | 1,446,362 | |
Venture Capital Loans | Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 1,513,641 | 1,446,037 | |
Other Commercial | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 13,390 | 10,972 | |
Loans held for investment, net | 2,245,910 | 2,129,860 | |
Other Commercial | Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 2,232,520 | 2,118,888 | |
Asset Based [Member] | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 2,325 | 2,689 | |
Loans held for investment, net | 2,061,016 | 2,189,085 | |
Asset Based [Member] | Performing | Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 2,058,691 | 2,186,396 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 0 | 0 | |
Loans held for investment, net | 775,021 | 759,585 | |
Commercial Real Estate Construction Loan Receivable | Performing | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 775,021 | 759,585 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 0 | 0 | |
Loans held for investment, net | 2,470,333 | 2,399,684 | |
Residential Real Estate Construction Financing Receivable | Performing | Real Estate Construction and Land | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 2,470,333 | 2,399,684 | |
Commercial | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 66,527 | 15,669 | |
Loans held for investment, net | 4,896,544 | 5,026,497 | |
Commercial | Performing | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 4,830,017 | 5,010,828 | |
Multi-Family Real Estate Loans | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 953 | 1,020 | |
Loans held for investment, net | 6,121,472 | 6,025,179 | |
Multi-Family Real Estate Loans | Performing | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | 6,120,519 | 6,024,159 | |
Other Residential Real Estate | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Nonaccrual | 61,754 | 31,041 | |
Loans held for investment, net | 4,949,383 | 5,060,309 | |
Other Residential Real Estate | Performing | Real Estate Mortgage | |||
Financing Receivable, Impaired [Line Items] | |||
Loans held for investment, net | $ 4,887,629 | $ 5,029,268 |
Loans and Leases - Credit Risk
Loans and Leases - Credit Risk Rating Categories for Loans and Leases Held for Investment (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 |
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | $ 25,473,022 | $ 25,489,687 | $ 25,672,381 |
Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 15,967,399 | 16,111,985 | 15,407,611 |
Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,245,354 | 3,159,269 | 4,608,440 |
Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 5,820,567 | 5,765,307 | 5,229,107 |
Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 439,702 | 453,126 | $ 427,223 |
Classified | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 366,729 | 228,417 | |
Classified | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 315,581 | 188,848 | |
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 | 50,170 | 38,410 | |
Classified | Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 978 | 1,159 | |
Special Mention | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 556,509 | 513,312 | |
Special Mention | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 322,267 | 382,240 | |
Special Mention | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,005 | 2,757 | |
Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 224,707 | 121,123 | |
Special Mention | Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 6,530 | 7,192 | |
Pass | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 24,549,784 | 24,747,958 | |
Pass | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 15,329,551 | 15,540,897 | |
Pass | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 3,242,349 | 3,156,512 | |
Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 5,545,690 | 5,605,774 | |
Pass | Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 432,194 | 444,775 | |
Venture Capital Loans | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,513,641 | 1,446,362 | |
Venture Capital Loans | Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 10,453 | 7,805 | |
Venture Capital Loans | Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 198,311 | 98,633 | |
Venture Capital Loans | Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 1,304,877 | 1,339,924 | |
Other Commercial | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,245,910 | 2,129,860 | |
Other Commercial | Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 31,222 | 26,044 | |
Other Commercial | Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 15,080 | 9,984 | |
Other Commercial | Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,199,608 | 2,093,832 | |
Asset Based [Member] | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,061,016 | 2,189,085 | |
Asset Based [Member] | Classified | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 8,495 | 4,561 | |
Asset Based [Member] | Special Mention | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 11,316 | 12,506 | |
Asset Based [Member] | Pass | Commercial | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,041,205 | 2,172,018 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 775,021 | 759,585 | |
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 | 0 | |
Commercial Real Estate Construction Loan Receivable | Pass | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 775,021 | 759,585 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,470,333 | 2,399,684 | |
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 | 3,005 | 2,757 | |
Residential Real Estate Construction Financing Receivable | Pass | Real Estate Construction and Land | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 2,467,328 | 2,396,927 | |
Commercial | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 4,896,544 | 5,026,497 | |
Commercial | Classified | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 174,525 | 75,739 | |
Commercial | Special Mention | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 196,450 | 219,687 | |
Commercial | Pass | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 4,525,569 | 4,731,071 | |
Multi-Family Real Estate Loans | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 6,121,472 | 6,025,179 | |
Multi-Family Real Estate Loans | Classified | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 74,646 | 74,954 | |
Multi-Family Real Estate Loans | Special Mention | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 94,218 | 108,356 | |
Multi-Family Real Estate Loans | Pass | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 5,952,608 | 5,841,869 | |
Other Residential Real Estate | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 4,949,383 | 5,060,309 | |
Other Residential Real Estate | Classified | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 66,410 | 38,155 | |
Other Residential Real Estate | Special Mention | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | 31,599 | 54,197 | |
Other Residential Real Estate | Pass | Real Estate Mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | $ 4,851,374 | 4,967,957 | |
Non Purchased Credit Impaired Loans and Leases | |||
Financing Receivable, Past Due [Line Items] | |||
Loans held for investment, net | $ 25,489,687 |
Loans and Leases - Nonaccrual L
Loans and Leases - Nonaccrual Loans and Leases by Loan Portfolio Segment and Class (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | $ 145,785 | $ 87,124 | $ 62,527 |
Financing Receivable, Nonaccrual, Interest Income | 5 | 4 | |
Loans held for investment, net | 25,473,022 | 25,672,381 | 25,489,687 |
Performing | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Loans held for investment, net | 25,327,237 | 25,427,160 | |
Real Estate Mortgage | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 129,234 | 83,056 | 47,730 |
Financing Receivable, Nonaccrual, Interest Income | 5 | 3 | |
Loans held for investment, net | 15,967,399 | 15,407,611 | 16,111,985 |
Real Estate Mortgage | Performing | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Loans held for investment, net | 15,838,165 | 16,064,255 | |
Real Estate Construction and Land | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 0 | 0 | 0 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Loans held for investment, net | 3,245,354 | 4,608,440 | 3,159,269 |
Real Estate Construction and Land | Performing | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Loans held for investment, net | 3,245,354 | 3,159,269 | |
Commercial | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 15,715 | 3,543 | 13,986 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 1 | |
Loans held for investment, net | 5,820,567 | 5,229,107 | 5,765,307 |
Commercial | Performing | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Loans held for investment, net | 5,804,852 | 5,751,321 | |
Consumer | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 836 | 525 | 811 |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Loans held for investment, net | 439,702 | 427,223 | 453,126 |
Consumer | Performing | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Loans held for investment, net | 438,866 | 452,315 | |
Finance Receivable Allowance | Consumer | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 832 | 525 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
No Finance Receivable Allowance | Consumer | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Financing Receivable, Nonaccrual, No Allowance | 4 | 0 | |
Commercial | Real Estate Mortgage | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 66,527 | 15,669 | |
Financing Receivable, Nonaccrual, No Allowance | 34,421 | 32,936 | |
Loans held for investment, net | 4,896,544 | 5,026,497 | |
Commercial | Real Estate Mortgage | Performing | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Loans held for investment, net | 4,830,017 | 5,010,828 | |
Commercial | Finance Receivable Allowance | Real Estate Mortgage | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 32,106 | 60 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Commercial | No Finance Receivable Allowance | Real Estate Mortgage | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 5 | 3 | |
Multi-Family Real Estate Loans | Real Estate Mortgage | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 953 | 1,020 | |
Financing Receivable, Nonaccrual, No Allowance | 953 | 0 | |
Loans held for investment, net | 6,121,472 | 6,025,179 | |
Multi-Family Real Estate Loans | Real Estate Mortgage | Performing | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Loans held for investment, net | 6,120,519 | 6,024,159 | |
Multi-Family Real Estate Loans | Finance Receivable Allowance | Real Estate Mortgage | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 0 | 0 | |
Financing Receivable, Nonaccrual, Interest Income | 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 | |
Other Residential Real Estate | Real Estate Mortgage | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 61,754 | 31,041 | |
Financing Receivable, Nonaccrual, No Allowance | 61,365 | 49,696 | |
Loans held for investment, net | 4,949,383 | 5,060,309 | |
Other Residential Real Estate | Real Estate Mortgage | Performing | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Loans held for investment, net | 4,887,629 | 5,029,268 | |
Other Residential Real Estate | Finance Receivable Allowance | Real Estate Mortgage | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 389 | 364 | |
Financing Receivable, Nonaccrual, Interest Income | 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 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 0 | 0 | |
Financing Receivable, Nonaccrual, No Allowance | 0 | 0 | |
Loans held for investment, net | 775,021 | 759,585 | |
Commercial Real Estate Construction Loan Receivable | Real Estate Construction and Land | Performing | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Loans held for investment, net | 775,021 | 759,585 | |
Commercial Real Estate Construction Loan Receivable | Finance Receivable Allowance | Real Estate Construction and Land | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 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 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 0 | 0 | |
Financing Receivable, Nonaccrual, No Allowance | 0 | 0 | |
Loans held for investment, net | 2,470,333 | 2,399,684 | |
Residential Real Estate Construction Financing Receivable | Real Estate Construction and Land | Performing | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Loans held for investment, net | 2,470,333 | 2,399,684 | |
Residential Real Estate Construction Financing Receivable | Finance Receivable Allowance | Real Estate Construction and Land | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 0 | 0 | |
Financing Receivable, Nonaccrual, Interest Income | 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 | |
Venture Capital Loans | Commercial | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 0 | 325 | |
Financing Receivable, Nonaccrual, No Allowance | 0 | 0 | |
Loans held for investment, net | 1,513,641 | 1,446,362 | |
Venture Capital Loans | Commercial | Performing | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Loans held for investment, net | 1,513,641 | 1,446,037 | |
Venture Capital Loans | Finance Receivable Allowance | Commercial | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 0 | 0 | |
Financing Receivable, Nonaccrual, Interest Income | 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 | 12,574 | 2,196 | |
Other Commercial | Commercial | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 13,390 | 10,972 | |
Loans held for investment, net | 2,245,910 | 2,129,860 | |
Other Commercial | Commercial | Performing | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Loans held for investment, net | 2,232,520 | 2,118,888 | |
Other Commercial | Finance Receivable Allowance | Commercial | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 816 | 927 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Other Commercial | No Finance Receivable Allowance | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | 0 | 1 | |
Asset Based [Member] | Commercial | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 2,325 | 2,689 | |
Financing Receivable, Nonaccrual, No Allowance | 1,624 | 420 | |
Loans held for investment, net | 2,061,016 | 2,189,085 | |
Asset Based [Member] | Commercial | Performing | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Loans held for investment, net | 2,058,691 | $ 2,186,396 | |
Asset Based [Member] | Finance Receivable Allowance | Commercial | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Nonaccrual | 701 | 0 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Asset Based [Member] | No Finance Receivable Allowance | Commercial | |||
Financing Receivable, Nonaccrual [Line Items] | |||
Financing Receivable, Nonaccrual, Interest Income | $ 0 | $ 0 |
Loans and Leases - Loans Held f
Loans and Leases - Loans Held for Investment by Loan Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | |
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | $ 25,473,022 | $ 25,489,687 | $ 25,672,381 |
Allowance for Loan and Lease Losses, Write-offs | 5,014 | 63,428 | |
Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 15,967,399 | 16,111,985 | 15,407,611 |
Commercial Real Estate Construction Loan Receivable | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 775,021 | 759,585 | |
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 | 2,470,333 | 2,399,684 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 5,820,567 | 5,765,307 | 5,229,107 |
Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 439,702 | 453,126 | $ 427,223 |
Allowance for Loan and Lease Losses, Write-offs | 1,833 | 2,397 | |
Revolving Credit Facility [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 3,337,347 | 3,254,704 | |
Allowance for Loan and Lease Losses, Write-offs | 372 | 1,023 | |
Revolving Credit Facility [Member] | Commercial Real Estate Construction Loan Receivable | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 21,894 | 20,412 | |
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 | 125,775 | 115,674 | |
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 | 7,453 | 9,019 | |
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 | 178,831 | 96,731 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 593 | |
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 | 327 | 361 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 12 | |
Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 135,549 | 930,451 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 3,436 | |
Origination Date 2024 [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 | 5,783 | 23,916 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Origination Date 2024 [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 | 10,774 | 64,341 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 8,903 | 26,468 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 956,435 | 7,575,137 | |
Allowance for Loan and Lease Losses, Write-offs | 851 | 33,088 | |
Origination Date 2023 [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 | 26,160 | 388,165 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Origination Date 2023 [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 | 87,735 | 1,185,297 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 25,411 | 73,117 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 432 | |
Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 7,626,284 | 6,992,271 | |
Allowance for Loan and Lease Losses, Write-offs | 1,363 | 8,708 | |
Origination Date 2022 [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 | 417,605 | 214,303 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,315,850 | 670,840 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 69,526 | 212,039 | |
Allowance for Loan and Lease Losses, Write-offs | 335 | 540 | |
Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 6,891,823 | 1,788,273 | |
Allowance for Loan and Lease Losses, Write-offs | 1,422 | 876 | |
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 | 221,095 | 68,833 | |
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 | 648,130 | 336,636 | |
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 | 204,107 | 23,900 | |
Allowance for Loan and Lease Losses, Write-offs | 643 | 76 | |
Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,744,131 | 1,294,540 | |
Allowance for Loan and Lease Losses, Write-offs | 230 | 359 | |
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 | 71,133 | 16,781 | |
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 | 255,161 | 0 | |
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 | 22,575 | 43,636 | |
Allowance for Loan and Lease Losses, Write-offs | 209 | 255 | |
Prior [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 4,602,622 | 3,557,580 | |
Allowance for Loan and Lease Losses, Write-offs | 776 | 15,345 | |
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 | 11,351 | 27,175 | |
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 | 26,908 | 26,896 | |
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 | 101,400 | 64,586 | |
Allowance for Loan and Lease Losses, Write-offs | 646 | 1,081 | |
1-2 High Pass [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,758,074 | 1,755,034 | |
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 | 1,967 | 1,357 | |
1-2 High Pass [Member] | Revolving Credit Facility [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 304,252 | 300,907 | |
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 | 1,918 | 1,304 | |
1-2 High Pass [Member] | Revolving Converted To Term Loan [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | (1,407) | 140 | |
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 2024 [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 17,349 | 33,216 | |
1-2 High Pass [Member] | Origination Date 2024 [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 2024 [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 2024 [Member] | Term Loans By Origination Date [Member] | Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 0 | |
1-2 High Pass [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 38,961 | 287,437 | |
1-2 High Pass [Member] | Origination Date 2023 [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 2023 [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 2023 [Member] | Term Loans By Origination Date [Member] | Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 27 | |
1-2 High Pass [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 306,295 | 386,182 | |
1-2 High Pass [Member] | Origination Date 2022 [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 2022 [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 2022 [Member] | Term Loans By Origination Date [Member] | Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 25 | 22 | |
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 | 392,382 | 117,303 | |
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 | 21 | 4 | |
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 | 116,492 | 194,718 | |
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 | 3 | 0 | |
1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 580,936 | 435,411 | |
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 | 22,791,710 | 22,992,924 | |
3-4 Pass [Member] | Commercial Real Estate Construction Loan Receivable | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 775,021 | 759,585 | |
3-4 Pass [Member] | Residential Real Estate Construction Financing Receivable | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 2,467,328 | 2,396,927 | |
3-4 Pass [Member] | Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 430,227 | 443,418 | |
3-4 Pass [Member] | Revolving Credit Facility [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 2,950,272 | 2,917,653 | |
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 | 21,894 | 20,412 | |
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 | 125,775 | 115,674 | |
3-4 Pass [Member] | Revolving Credit Facility [Member] | Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 5,535 | 7,684 | |
3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 171,261 | 90,606 | |
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 | 312 | 345 | |
3-4 Pass [Member] | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 118,200 | 873,410 | |
3-4 Pass [Member] | Origination Date 2024 [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 | 5,783 | 23,916 | |
3-4 Pass [Member] | Origination Date 2024 [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 | 10,774 | 64,341 | |
3-4 Pass [Member] | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 8,903 | 26,468 | |
3-4 Pass [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 846,756 | 7,191,673 | |
3-4 Pass [Member] | Origination Date 2023 [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 | 26,160 | 388,165 | |
3-4 Pass [Member] | Origination Date 2023 [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 | 87,735 | 1,185,297 | |
3-4 Pass [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 25,411 | 71,523 | |
3-4 Pass [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 7,203,500 | 6,440,927 | |
3-4 Pass [Member] | Origination Date 2022 [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 | 417,605 | 214,303 | |
3-4 Pass [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Residential Real Estate Construction Financing Receivable | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,315,850 | 668,083 | |
3-4 Pass [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 68,254 | 207,751 | |
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 | 6,290,280 | 1,619,579 | |
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 | 221,095 | 68,833 | |
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 | 645,125 | 336,636 | |
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 | 199,872 | 23,390 | |
3-4 Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,571,521 | 976,138 | |
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 | 71,133 | 16,781 | |
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 | 255,161 | 0 | |
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 | 22,426 | 42,338 | |
3-4 Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 3,639,920 | 2,882,938 | |
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 | 11,351 | 27,175 | |
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 | 26,908 | 26,896 | |
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 | 99,514 | 63,919 | |
5 Special Mention [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 556,509 | 513,312 | |
5 Special Mention [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] | Residential Real Estate Construction Financing Receivable | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 3,005 | 2,757 | |
5 Special Mention [Member] | Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 6,530 | 7,192 | |
5 Special Mention [Member] | Revolving Credit Facility [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 69,787 | 27,554 | |
5 Special Mention [Member] | Revolving Credit Facility [Member] | Commercial Real Estate Construction Loan Receivable | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 0 | |
5 Special Mention [Member] | Revolving Credit Facility [Member] | Residential Real Estate Construction Financing Receivable | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 0 | |
5 Special Mention [Member] | Revolving Credit Facility [Member] | Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 30 | |
5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 5,059 | 5,073 | |
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 2024 [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 19,229 | |
5 Special Mention [Member] | Origination Date 2024 [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 2024 [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 2024 [Member] | Term Loans By Origination Date [Member] | Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 0 | |
5 Special Mention [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 61,994 | 76,571 | |
5 Special Mention [Member] | Origination Date 2023 [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 2023 [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 2023 [Member] | Term Loans By Origination Date [Member] | Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 1,286 | |
5 Special Mention [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 72,090 | 96,938 | |
5 Special Mention [Member] | Origination Date 2022 [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 2022 [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 | 2,757 | |
5 Special Mention [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,119 | 4,224 | |
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 | 131,048 | 38,611 | |
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 | 3,005 | 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 | 3,712 | 371 | |
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 | 19,147 | 78,581 | |
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 | 103 | 1,100 | |
5 Special Mention [Member] | Prior [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 197,384 | 170,755 | |
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 | 1,596 | 181 | |
6-8 Classified [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 366,729 | 228,417 | |
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 | 978 | 1,159 | |
6-8 Classified [Member] | Revolving Credit Facility [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 13,036 | 8,590 | |
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 | 0 | 1 | |
6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,104 | 1,192 | |
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 | 15 | 16 | |
6-8 Classified [Member] | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 4,596 | |
6-8 Classified [Member] | Origination Date 2024 [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 2024 [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 2024 [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 2023 [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 8,724 | 19,456 | |
6-8 Classified [Member] | Origination Date 2023 [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 2023 [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 2023 [Member] | Term Loans By Origination Date [Member] | Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 281 | |
6-8 Classified [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 44,399 | 68,224 | |
6-8 Classified [Member] | Origination Date 2022 [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 2022 [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 2022 [Member] | Term Loans By Origination Date [Member] | Consumer | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 128 | 42 | |
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 | 78,113 | 12,780 | |
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 | 502 | 135 | |
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 | 36,971 | 45,103 | |
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 | 43 | 198 | |
6-8 Classified [Member] | Prior [Member] | Term Loans By Origination Date [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 184,382 | 68,476 | |
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 | 290 | 486 | |
Commercial | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 4,896,544 | 5,026,497 | |
Allowance for Loan and Lease Losses, Write-offs | 37 | 14,295 | |
Commercial | Revolving Credit Facility [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 63,430 | 79,867 | |
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 | 35,136 | 10,937 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Commercial | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 2,941 | 182,985 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 34 | |
Commercial | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 170,665 | 964,291 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Commercial | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 963,594 | 890,403 | |
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 | 883,431 | 553,708 | |
Allowance for Loan and Lease Losses, Write-offs | 28 | 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 | 550,928 | 350,532 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 76 | |
Commercial | Prior [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 2,226,419 | 1,993,774 | |
Allowance for Loan and Lease Losses, Write-offs | 9 | 14,185 | |
Commercial | 1-2 High Pass [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 143,769 | 137,783 | |
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 | 1 | |
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 2024 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 0 | |
Commercial | 1-2 High Pass [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 16,976 | |
Commercial | 1-2 High Pass [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 26,137 | 17,432 | |
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 | 15,151 | 16,832 | |
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 | 13,787 | 17,337 | |
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 | 88,693 | 69,205 | |
Commercial | 3-4 Pass [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 4,381,800 | 4,593,288 | |
Commercial | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 62,325 | 76,866 | |
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 | 35,136 | 10,937 | |
Commercial | 3-4 Pass [Member] | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 2,941 | 182,236 | |
Commercial | 3-4 Pass [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 169,935 | 933,294 | |
Commercial | 3-4 Pass [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 918,384 | 814,564 | |
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 | 759,995 | 510,952 | |
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 | 508,887 | 298,985 | |
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 | 1,924,197 | 1,765,454 | |
Commercial | 5 Special Mention [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 196,450 | 219,687 | |
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 | 1,250 | |
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 2024 [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 2023 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 14,021 | |
Commercial | 5 Special Mention [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 14,054 | 32,235 | |
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 | 80,551 | 25,485 | |
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 | 3,579 | 17,147 | |
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 | 98,266 | 129,549 | |
Commercial | 6-8 Classified [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 174,525 | 75,739 | |
Commercial | 6-8 Classified [Member] | Revolving Credit Facility [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,104 | 1,750 | |
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 2024 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 749 | |
Commercial | 6-8 Classified [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 730 | 0 | |
Commercial | 6-8 Classified [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 5,019 | 26,172 | |
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 | 27,734 | 439 | |
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 | 24,675 | 17,063 | |
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 | 115,263 | 29,566 | |
Multi-Family Real Estate Loans | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 6,121,472 | 6,025,179 | |
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 | 11,478 | 67,811 | |
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 | 47,980 | 0 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Multi-Family Real Estate Loans | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 18,571 | 66,143 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Multi-Family Real Estate Loans | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 88,432 | 2,252,000 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Multi-Family Real Estate Loans | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 2,271,736 | 1,368,543 | |
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 | 1,380,255 | 619,396 | |
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 | 669,771 | 688,759 | |
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 | 1,633,249 | 962,527 | |
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 | 446,330 | 394,949 | |
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 2024 [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 2023 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 28,155 | |
Multi-Family Real Estate Loans | 1-2 High Pass [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 45,501 | 140,424 | |
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 | 158,588 | 58,959 | |
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 | 67,642 | 57,988 | |
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 | 174,599 | 109,423 | |
Multi-Family Real Estate Loans | 3-4 Pass [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 5,506,278 | 5,446,920 | |
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 | 11,478 | 67,811 | |
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 | 47,980 | 0 | |
Multi-Family Real Estate Loans | 3-4 Pass [Member] | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 18,571 | 66,143 | |
Multi-Family Real Estate Loans | 3-4 Pass [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 88,432 | 2,221,235 | |
Multi-Family Real Estate Loans | 3-4 Pass [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 2,226,235 | 1,193,052 | |
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 | 1,196,320 | 539,660 | |
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 | 578,112 | 564,420 | |
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 | 1,339,150 | 794,599 | |
Multi-Family Real Estate Loans | 5 Special Mention [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 94,218 | 108,356 | |
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 2024 [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 2023 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 2,610 | |
Multi-Family Real Estate Loans | 5 Special Mention [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 17,784 | |
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 | 8,063 | 12,201 | |
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 | 15,465 | 39,808 | |
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 | 70,690 | 35,953 | |
Multi-Family Real Estate Loans | 6-8 Classified [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 74,646 | 74,954 | |
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 2024 [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 2023 [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 2022 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 17,283 | |
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 | 17,284 | 8,576 | |
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 | 8,552 | 26,543 | |
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 | 48,810 | 22,552 | |
Other Residential Real Estate | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 4,949,383 | 5,060,309 | |
Allowance for Loan and Lease Losses, Write-offs | 2,440 | 33,075 | |
Other Residential Real Estate | Revolving Credit Facility [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 60,164 | 58,446 | |
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 | 115 | 172 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Other Residential Real Estate | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,795 | 192,408 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 3,402 | |
Other Residential Real Estate | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 189,168 | 1,888,779 | |
Allowance for Loan and Lease Losses, Write-offs | 851 | 23,544 | |
Other Residential Real Estate | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,829,276 | 2,832,769 | |
Allowance for Loan and Lease Losses, Write-offs | 1,028 | 5,385 | |
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 | 2,781,994 | 66,453 | |
Allowance for Loan and Lease Losses, Write-offs | 540 | 740 | |
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 | 65,102 | 0 | |
Allowance for Loan and Lease Losses, Write-offs | 21 | 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 | 21,769 | 21,282 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 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 | 6,693 | 6,769 | |
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 | 6,693 | 6,769 | |
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 2024 [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 2023 [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 2022 [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 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] | 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 | 4,844,681 | 4,961,188 | |
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 | 53,324 | 51,246 | |
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 | 82 | 87 | |
Other Residential Real Estate | 3-4 Pass [Member] | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,795 | 188,561 | |
Other Residential Real Estate | 3-4 Pass [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 184,141 | 1,824,253 | |
Other Residential Real Estate | 3-4 Pass [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,764,313 | 2,812,293 | |
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 | 2,757,120 | 65,230 | |
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 | 64,163 | 0 | |
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 | 19,743 | 19,518 | |
Other Residential Real Estate | 5 Special Mention [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 31,599 | 54,197 | |
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 | 366 | |
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 2024 [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 | 5 Special Mention [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 46,263 | |
Other Residential Real Estate | 5 Special Mention [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 27,992 | 7,568 | |
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 | 3,323 | 0 | |
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 | 0 | 0 | |
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 | 284 | 0 | |
Other Residential Real Estate | 6-8 Classified [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 66,410 | 38,155 | |
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 | 147 | 65 | |
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 | 33 | 85 | |
Other Residential Real Estate | 6-8 Classified [Member] | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 3,847 | |
Other Residential Real Estate | 6-8 Classified [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 5,027 | 18,263 | |
Other Residential Real Estate | 6-8 Classified [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Real Estate Mortgage | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 36,971 | 12,908 | |
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 | 21,551 | 1,223 | |
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 | 939 | 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 | 1,742 | 1,764 | |
Venture Capital Loans | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,513,641 | 1,446,362 | |
Venture Capital Loans | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,513,641 | 1,446,362 | |
Allowance for Loan and Lease Losses, Write-offs | 141 | 5,013 | |
Venture Capital Loans | Revolving Credit Facility [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 948,767 | 920,537 | |
Allowance for Loan and Lease Losses, Write-offs | 141 | 9 | |
Venture Capital Loans | Revolving Converted To Term Loan [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 91,327 | 79,717 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Venture Capital Loans | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 24,891 | 118,435 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Venture Capital Loans | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 136,777 | 139,462 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 2,245 | |
Venture Capital Loans | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 131,332 | 152,919 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 2,759 | |
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 | 145,969 | 8,471 | |
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 | 7,819 | 26,202 | |
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 | 26,759 | 619 | |
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 | 151,625 | 138,103 | |
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 | 148,410 | 136,339 | |
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 | 1,407 | (140) | |
Venture Capital Loans | 1-2 High Pass [Member] | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 85 | 84 | |
Venture Capital Loans | 1-2 High Pass [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 98 | (7) | |
Venture Capital Loans | 1-2 High Pass [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 5 | 0 | |
Venture Capital Loans | 1-2 High Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 1,998 | |
Venture Capital Loans | 1-2 High Pass [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,998 | 0 | |
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 | 1,153,252 | 1,201,821 | |
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 | 749,806 | 770,941 | |
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 | 84,925 | 74,863 | |
Venture Capital Loans | 3-4 Pass [Member] | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 24,976 | 101,038 | |
Venture Capital Loans | 3-4 Pass [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 71,914 | 128,485 | |
Venture Capital Loans | 3-4 Pass [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 102,487 | 113,183 | |
Venture Capital Loans | 3-4 Pass [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 106,549 | 6,473 | |
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 | 5,821 | 6,216 | |
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 | 6,774 | 622 | |
Venture Capital Loans | 5 Special Mention [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 198,311 | 98,633 | |
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 | 50,551 | 13,260 | |
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 | 4,995 | 4,994 | |
Venture Capital Loans | 5 Special Mention [Member] | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 17,481 | |
Venture Capital Loans | 5 Special Mention [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 61,994 | 10,984 | |
Venture Capital Loans | 5 Special Mention [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 28,850 | 31,928 | |
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 | 31,934 | 0 | |
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 | 0 | 19,986 | |
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 | 19,987 | 0 | |
Venture Capital Loans | 6-8 Classified [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 10,453 | 7,805 | |
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 | 3 | |
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 2024 [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 2023 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 2,967 | 0 | |
Venture Capital Loans | 6-8 Classified [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Venture Capital Loans | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 7,808 | |
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 | 7,486 | 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 | 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 | 2,245,910 | 2,129,860 | |
Allowance for Loan and Lease Losses, Write-offs | 563 | 8,438 | |
Other Commercial | Revolving Credit Facility [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,387,707 | 1,247,284 | |
Allowance for Loan and Lease Losses, Write-offs | 231 | 1,013 | |
Other Commercial | Revolving Converted To Term Loan [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 3,946 | 4,081 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 431 | |
Other Commercial | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 44,971 | 101,206 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Other Commercial | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 82,549 | 207,783 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 6,867 | |
Other Commercial | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 181,728 | 294,918 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 24 | |
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 | 287,185 | 52,972 | |
Allowance for Loan and Lease Losses, Write-offs | 211 | 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 | 51,499 | 41,819 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 28 | |
Other Commercial | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 206,325 | 179,797 | |
Allowance for Loan and Lease Losses, Write-offs | 121 | 75 | |
Other Commercial | 1-2 High Pass [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 73,375 | 79,515 | |
Other Commercial | 1-2 High Pass [Member] | Revolving Credit Facility [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 61,631 | 66,827 | |
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 2024 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 505 | 815 | |
Other Commercial | 1-2 High Pass [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 785 | 4,350 | |
Other Commercial | 1-2 High Pass [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 4,273 | 5,216 | |
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 | 4,855 | 130 | |
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 | 105 | 29 | |
Other Commercial | 1-2 High Pass [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,221 | 2,148 | |
Other Commercial | 3-4 Pass [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 2,126,233 | 2,014,317 | |
Other Commercial | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,314,086 | 1,176,946 | |
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 | 2,826 | 2,921 | |
Other Commercial | 3-4 Pass [Member] | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 44,466 | 98,643 | |
Other Commercial | 3-4 Pass [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 81,764 | 201,215 | |
Other Commercial | 3-4 Pass [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 175,174 | 285,249 | |
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 | 278,317 | 50,582 | |
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 | 49,333 | 39,951 | |
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 | 180,267 | 158,810 | |
Other Commercial | 5 Special Mention [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 15,080 | 9,984 | |
Other Commercial | 5 Special Mention [Member] | Revolving Credit Facility [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 7,999 | 254 | |
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 | 64 | 69 | |
Other Commercial | 5 Special Mention [Member] | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 1,748 | |
Other Commercial | 5 Special Mention [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 1,306 | |
Other Commercial | 5 Special Mention [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 442 | |
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 | 457 | 554 | |
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 | 540 | |
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 | 6,560 | 5,071 | |
Other Commercial | 6-8 Classified [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 31,222 | 26,044 | |
Other Commercial | 6-8 Classified [Member] | Revolving Credit Facility [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 3,991 | 3,257 | |
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 | 1,056 | 1,091 | |
Other Commercial | 6-8 Classified [Member] | Origination Date 2024 [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 2023 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 912 | |
Other Commercial | 6-8 Classified [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 2,281 | 4,011 | |
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 | 3,556 | 1,706 | |
Other Commercial | 6-8 Classified [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 2,061 | (1,299) | |
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 | 18,277 | 13,768 | |
Asset Based [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 2,061,016 | 2,189,085 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 210 | |
Asset Based [Member] | Revolving Credit Facility [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 710,679 | 735,654 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Asset Based [Member] | Revolving Converted To Term Loan [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 1,463 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 150 | |
Asset Based [Member] | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 16,920 | 154,549 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Asset Based [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 149,538 | 476,243 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Asset Based [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 445,637 | 355,537 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Asset Based [Member] | Origination Date 2021 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 339,657 | 57,904 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 60 | |
Asset Based [Member] | Origination Date 2020 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 50,143 | 126,811 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Asset Based [Member] | Prior [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 348,442 | 280,924 | |
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | |
Asset Based [Member] | 1-2 High Pass [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 934,315 | 996,558 | |
Asset Based [Member] | 1-2 High Pass [Member] | Revolving Credit Facility [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 85,599 | 89,667 | |
Asset Based [Member] | 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 [Member] | 1-2 High Pass [Member] | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 16,929 | 32,485 | |
Asset Based [Member] | 1-2 High Pass [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 38,274 | 237,936 | |
Asset Based [Member] | 1-2 High Pass [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 230,364 | 223,088 | |
Asset Based [Member] | 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 | 213,767 | 39,380 | |
Asset Based [Member] | 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 | 32,957 | 119,364 | |
Asset Based [Member] | 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 | 316,425 | 254,638 | |
Asset Based [Member] | 3-4 Pass [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 1,106,890 | 1,175,460 | |
Asset Based [Member] | 3-4 Pass [Member] | Revolving Credit Facility [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 606,049 | 630,073 | |
Asset Based [Member] | 3-4 Pass [Member] | Revolving Converted To Term Loan [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 1,453 | |
Asset Based [Member] | 3-4 Pass [Member] | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 9 | 122,064 | |
Asset Based [Member] | 3-4 Pass [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 111,264 | 238,206 | |
Asset Based [Member] | 3-4 Pass [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 215,198 | 132,449 | |
Asset Based [Member] | 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 | 125,887 | 17,823 | |
Asset Based [Member] | 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 | 16,485 | 7,447 | |
Asset Based [Member] | 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 | 32,016 | 25,945 | |
Asset Based [Member] | 5 Special Mention [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 11,316 | 12,506 | |
Asset Based [Member] | 5 Special Mention [Member] | Revolving Credit Facility [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 11,237 | 12,394 | |
Asset Based [Member] | 5 Special Mention [Member] | Revolving Converted To Term Loan [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 10 | |
Asset Based [Member] | 5 Special Mention [Member] | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 0 | |
Asset Based [Member] | 5 Special Mention [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 101 | |
Asset Based [Member] | 5 Special Mention [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 75 | 0 | |
Asset Based [Member] | 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 | 3 | 0 | |
Asset Based [Member] | 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 | 0 | |
Asset Based [Member] | 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 | 1 | 1 | |
Asset Based [Member] | 6-8 Classified [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 8,495 | 4,561 | |
Asset Based [Member] | 6-8 Classified [Member] | Revolving Credit Facility [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 7,794 | 3,520 | |
Asset Based [Member] | 6-8 Classified [Member] | Revolving Converted To Term Loan [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 0 | |
Asset Based [Member] | 6-8 Classified [Member] | Origination Date 2024 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 0 | |
Asset Based [Member] | 6-8 Classified [Member] | Origination Date 2023 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 0 | |
Asset Based [Member] | 6-8 Classified [Member] | Origination Date 2022 [Member] | Term Loans By Origination Date [Member] | Commercial | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Loans held for investment, net | 0 | 0 | |
Asset Based [Member] | 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 | 701 | |
Asset Based [Member] | 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 | 701 | 0 | |
Asset Based [Member] | 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 | $ 0 | $ 340 |
Loans and Leases - Loan Modific
Loans and Leases - Loan Modification or Refinancing (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modified, Accumulated | $ 15,434,000 | |
Financing Receivable, Modified, Payment Delay | 6 months | |
Extended Maturity | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modified, Accumulated | $ 14,773,000 | |
Payment Delay | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modified, Accumulated | 45,000 | |
Term Extension and Interest Rate Reduction | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modified, Accumulated | 3,000 | |
Term Extension and Payment Delay | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modified, Accumulated | $ 613,000 | |
Extended Maturity | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 5,914,000 | |
Real Estate Mortgage | Other Residential Real Estate | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0.20% | |
Financing Receivable, Modified, Accumulated | $ 12,716,000 | |
Real Estate Mortgage | Other Residential Real Estate | Extended Maturity | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0.20% | |
Financing Receivable, Modified, Accumulated | $ 12,716,000 | |
Financing Receivable, Modified, Weighted Average Term Increase from Modification | 12 months | 7 months |
Real Estate Mortgage | Other Residential Real Estate | Extended Maturity | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 1,837,000 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Real Estate Mortgage | Commercial | Extended Maturity | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | $ 1,250,000 | |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Real Estate Mortgage | Commercial Collateralized Financing Receivable Loan Type [Domain] | Extended Maturity | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modified, Weighted Average Term Increase from Modification | 5 months | |
Consumer Loan | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Financing Receivable, Modified, Accumulated | $ 3,000 | |
Consumer Loan | Extended Maturity | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Financing Receivable, Modified, Accumulated | $ 0 | |
Consumer Loan | Term Extension and Interest Rate Reduction | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | 0% | |
Financing Receivable, Modified, Accumulated | $ 3,000 | |
Consumer Loan | Extended Maturity and Interest Rate Reduction | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modified, Weighted Average Term Increase from Modification | 2 years | |
Financing Receivable, Pre-Modification Interest Rate | 9.50% | |
Financing Receivable, Modified, Weighted Average Interest Rate Decrease from Modification | 2% |
Loans and Leases - Payment Stat
Loans and Leases - Payment Status of Loan Modifications (Details) $ in Thousands | Mar. 31, 2024 USD ($) |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | $ 11,931 |
Current | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 10,126 |
30 TO 89 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 90 |
90 Or More Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 1,715 |
Commercial | Other Commercial | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 4,910 |
Commercial | Other Commercial | Current | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 4,910 |
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 | 13 |
Consumer | Current | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 13 |
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 |
Commercial | Real Estate Mortgage | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 2,250 |
Commercial | Real Estate Mortgage | Current | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 2,250 |
Commercial | Real Estate Mortgage | 30 TO 89 Days Past Due | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 0 |
Commercial | Real Estate Mortgage | 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 | 4,758 |
Other Residential Real Estate | Real Estate Mortgage | Current | |
Financing Receivable, Past Due [Line Items] | |
Finance Receivable, Loan Restructuring and Refinancing, Payment Status qtd | 2,953 |
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 | 90 |
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 | $ 1,715 |
Loans and Leases - Leases Recei
Loans and Leases - Leases Receivable Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Receivables [Abstract] | ||
Direct Financing Lease, Interest Income | $ 4,735 | $ 3,749 |
Loans and Leases - Components o
Loans and Leases - Components of Leases Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Direct Financing Lease, Net Investment in Leases [Abstract] | ||
Lease payments receivable | $ 249,900 | $ 249,223 |
Unguaranteed residual assets | 25,915 | 25,488 |
Deferred costs and other | 2,602 | 2,715 |
Aggregate net investment in leases | $ 278,417 | $ 277,426 |
Loans and Leases - Maturities o
Loans and Leases - Maturities of Leases Receivable (Details) $ in Thousands | Mar. 31, 2024 USD ($) |
Sales-type and Direct Financing Leases, Lease Receivable, Rolling Maturity [Abstract] | |
2024 | $ 65,235 |
2025 | 74,910 |
2026 | 56,555 |
2027 | 37,965 |
2028 | 22,188 |
Thereafter | 24,315 |
Total undiscounted cash flows | 281,168 |
Less: Unearned income | (31,268) |
Present value of lease payments | $ 249,900 |
Loans and Leases - Allowance fo
Loans and Leases - Allowance for Loan and Lease Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning of period | $ 281,687 | $ 200,732 | |
Charge-offs | (5,014) | (10,397) | |
Recoveries | 3,830 | 1,220 | |
Net (charge-offs) recoveries | (1,184) | (9,177) | |
Provision for credit losses | 11,000 | (18,500) | |
Balance, end of period | 291,503 | 210,055 | |
Amount of the allowance applicable to loans and leases: | |||
Individually evaluated | 8,343 | 0 | |
Collectively evaluated | 283,160 | 210,055 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||
Individually evaluated | 144,039 | 85,451 | |
Collectively evaluated | 25,328,983 | 25,586,930 | |
Loans held for investment, net | 25,473,022 | 25,672,381 | $ 25,489,687 |
Real Estate Mortgage | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning of period | 186,827 | 87,309 | |
Charge-offs | (2,477) | (9,835) | |
Recoveries | 891 | 200 | |
Net (charge-offs) recoveries | (1,586) | (9,635) | |
Provision for credit losses | 13,033 | (31,809) | |
Balance, end of period | 198,274 | 109,483 | |
Amount of the allowance applicable to loans and leases: | |||
Individually evaluated | 8,336 | 0 | |
Collectively evaluated | 189,938 | 109,483 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||
Individually evaluated | 129,116 | 82,835 | |
Collectively evaluated | 15,838,283 | 15,324,776 | |
Loans held for investment, net | 15,967,399 | 15,407,611 | 16,111,985 |
Real Estate Construction and Land | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning of period | 33,830 | 52,320 | |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Net (charge-offs) recoveries | 0 | 0 | |
Provision for credit losses | (3,819) | 2,714 | |
Balance, end of period | 30,011 | 55,034 | |
Amount of the allowance applicable to loans and leases: | |||
Individually evaluated | 0 | 0 | |
Collectively evaluated | 30,011 | 55,034 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||
Individually evaluated | 0 | 0 | |
Collectively evaluated | 3,245,354 | 4,608,440 | |
Loans held for investment, net | 3,245,354 | 4,608,440 | 3,159,269 |
Commercial | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning of period | 45,156 | 52,849 | |
Charge-offs | (704) | (137) | |
Recoveries | 2,869 | 975 | |
Net (charge-offs) recoveries | 2,165 | 838 | |
Provision for credit losses | (267) | (16,492) | |
Balance, end of period | 47,054 | 37,195 | |
Amount of the allowance applicable to loans and leases: | |||
Individually evaluated | 7 | 0 | |
Collectively evaluated | 47,047 | 37,195 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||
Individually evaluated | 14,919 | 2,616 | |
Collectively evaluated | 5,805,648 | 5,226,491 | |
Loans held for investment, net | 5,820,567 | 5,229,107 | 5,765,307 |
Consumer | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Balance, beginning of period | 15,874 | 8,254 | |
Charge-offs | (1,833) | (425) | |
Recoveries | 70 | 45 | |
Net (charge-offs) recoveries | (1,763) | (380) | |
Provision for credit losses | 2,053 | 469 | |
Balance, end of period | 16,164 | 8,343 | |
Amount of the allowance applicable to loans and leases: | |||
Individually evaluated | 0 | 0 | |
Collectively evaluated | 16,164 | 8,343 | |
The ending balance of the loan and lease portfolio is composed of loans and leases: | |||
Individually evaluated | 4 | 0 | |
Collectively evaluated | 439,698 | 427,223 | |
Loans held for investment, net | $ 439,702 | $ 427,223 | $ 453,126 |
Loans and Leases - Collateral D
Loans and Leases - Collateral Dependent Loans Held for Investment (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | $ 133,724 | $ 51,568 |
Real Estate Mortgage | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 130,567 | 47,952 |
Consumer | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 4 | 0 |
Commercial | Asset Based [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 3,153 | 3,616 |
Real Estate Properties [Domain] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 130,567 | 47,952 |
Real Estate Properties [Domain] | Real Estate Mortgage | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 130,567 | 47,952 |
Real Estate Properties [Domain] | Commercial | Asset Based [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 0 | 0 |
Business Assets [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 3,153 | 3,616 |
Business Assets [Member] | Real Estate Mortgage | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | 0 | 0 |
Business Assets [Member] | Commercial | Asset Based [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Collateral-dependent Finance Receivable | $ 3,153 | $ 3,616 |
Loans and Leases - Allowance _2
Loans and Leases - Allowance for Loan and Lease Losses and Reserve for Unfunded Loan Commitments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Receivables [Abstract] | ||
Balance, beginning of period | $ 281,687 | $ 200,732 |
Reserve for Unfunded Loan Commitments, Balance, beginning of period | 29,571 | 91,071 |
Allowance for Credit Losses, Balance, beginning of period | 311,258 | 291,803 |
Allowance for Loan and Lease Losses, Charge-offs | (5,014) | (10,397) |
Reserve for Unfunded Loan Commitments, Charge-offs | 0 | 0 |
Allowance for Credit Losses, Charge-offs | (5,014) | (10,397) |
Allowance for Loan and Lease Loss, Recoveries | 3,830 | 1,220 |
Reserve for Unfunded Loan Commitments, Recoveries | 0 | 0 |
Allowance for Credit Losses, Recoveries | 3,830 | 1,220 |
Net (charge-offs) recoveries | (1,184) | (9,177) |
Reserve for Unfunded Loan Commitments, Net charge-offs | 0 | 0 |
Allowance For Credit Losses, Net charge-offs | (1,184) | (9,177) |
Provision for Loan, Leases and Unfunded Loan Commitments | 10,000 | 3,000 |
Provision for credit losses | 11,000 | (18,500) |
Reserve for Unfunded Commitments, Provision (negative provision) | 1,000 | 15,500 |
Balance, end of period | 291,503 | 210,055 |
Reserve for Unfunded Loan Commitments, Balance, end of period | 28,571 | 75,571 |
Allowance for Credit Losses, Balance, end of period | $ 320,074 | $ 285,626 |
Loans and Leases - Narrative (D
Loans and Leases - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonaccrual loans and leases | $ 145,785 | $ 87,124 | $ 62,527 | |
Allowance for Loan and Lease Losses, Period Increase (Decrease) | 9,800 | |||
Provision for credit losses | 11,000 | (18,500) | ||
Loans and leases held for investment | 25,755,961 | 25,796,714 | ||
Loans and Leases Receivable, Allowance | 291,503 | 210,055 | 281,687 | $ 200,732 |
Loans held for investment, net | 25,473,022 | 25,672,381 | 25,489,687 | |
Net (charge-offs) recoveries | (1,184) | (9,177) | ||
Real Estate Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonaccrual loans and leases | 129,234 | 83,056 | 47,730 | |
Provision for credit losses | 13,033 | (31,809) | ||
Loans and leases held for investment | 16,217,186 | 16,378,537 | ||
Loans and Leases Receivable, Allowance | 198,274 | 109,483 | 186,827 | 87,309 |
Loans held for investment, net | 15,967,399 | 15,407,611 | 16,111,985 | |
Net (charge-offs) recoveries | (1,586) | (9,635) | ||
Real Estate Mortgage | Other Residential Real Estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonaccrual loans and leases | 61,754 | 31,041 | ||
Loans held for investment, net | 4,949,383 | 5,060,309 | ||
Real Estate Mortgage | Other Residential Real Estate | Current | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, Modified, Increase (Decrease) from Modification | 2,200 | |||
Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonaccrual loans and leases | 15,715 | 3,543 | 13,986 | |
Provision for credit losses | (267) | (16,492) | ||
Loans and leases held for investment | 5,831,666 | 5,780,346 | ||
Loans and Leases Receivable, Allowance | 47,054 | 37,195 | 45,156 | $ 52,849 |
Loans held for investment, net | 5,820,567 | 5,229,107 | 5,765,307 | |
Net (charge-offs) recoveries | 2,165 | $ 838 | ||
Credit Concentration Risk | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonaccrual loans and leases | $ 46,300 | |||
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 | 32% | |||
Nonaccrual | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Receivable, 90 or more days past due | $ 57,600 | 19,100 | ||
Receivable, 30-89 days past due | 59,600 | 11,400 | ||
Financing receivable, nonaccrual status, current | 28,600 | 32,000 | ||
Other Commercial | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonaccrual loans and leases | 13,390 | 10,972 | ||
Loans held for investment, net | 2,245,910 | 2,129,860 | ||
Venture Capital Loans | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonaccrual loans and leases | 0 | 325 | ||
Loans held for investment, net | 1,513,641 | 1,446,362 | ||
Asset Based [Member] | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Nonaccrual loans and leases | 2,325 | 2,689 | ||
Loans held for investment, net | $ 2,061,016 | $ 2,189,085 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets Textual (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Goodwill | $ 198,627 | $ 198,627 | |
Goodwill impairment | $ 0 | $ 0 | $ 1,376,736 |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets - Rollforward of CDI and CRI (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | |
Finite-lived Intangible Assets [Roll Forward] | |||
CDI and CRI Balance, beginning of period | $ 236,264 | $ 91,550 | |
CDI and CRI Balance, end of period | 236,264 | $ 236,264 | 90,800 |
Accumulated Amortization, beginning of period | (70,787) | (60,169) | |
Amortization expense | (8,404) | (4,230) | (2,411) |
Accumulated Amortization, end of period | (79,038) | $ (70,787) | (61,830) |
CDI and CRI Amortization | 8,251 | 2,411 | |
Net CDI and CRI, end of period | 157,226 | 28,970 | |
Finite Lived Intangible Assets Fully Amortized Portion | $ 0 | $ 750 |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Mar. 31, 2023 |
Finite-Lived Intangible Assets [Line Items] | ||
Aggregate amortization expense 2024 | $ 24,282 | |
Aggregate amortization expense 2025 | 27,657 | |
Aggregate amortization expense 2026 | 24,412 | |
Aggregate amortization expense 2027 | 21,166 | |
Aggregate amortization expense 2028 | 17,920 | |
Aggregate amortization expense, thereafter | 41,789 | |
Finite-Lived Intangible Assets, Net | $ 157,226 | $ 28,970 |
Other Assets (Details)
Other Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Dec. 31, 2023 | ||
Other Assets [Abstract] | |||
LIHTC investments | $ 335,584 | $ 347,478 | |
Operating lease ROU assets, net (1) | [1] | 125,383 | 133,126 |
Interest receivable | 138,258 | 138,522 | |
Taxes receivable | 26,090 | 34,268 | |
HLBV investments | 18,112 | 18,442 | |
Bank owned life insurance | 12,488 | 7,394 | |
Equity investments without readily determinable fair values | 71,392 | 71,332 | |
SBIC Investments | 112,982 | 105,433 | |
Prepaid expenses | 43,412 | 43,498 | |
Equity warrants | [2] | 3,708 | 3,689 |
Equity investments with readily determinable fair values | 1 | 1 | |
Other receivables/assets | 206,973 | 228,066 | |
Other assets | $ 1,094,383 | $ 1,131,249 | |
Vesting period of time-based restricted stock, lower limit | 3 years | ||
[1]See Note 7. 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 | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Lease, Cost [Abstract] | ||
Operating Lease, Cost | $ 9,435 | $ 7,748 |
Variable Lease, Cost | 48 | 35 |
Short-term Lease, Cost | 66 | 357 |
Sublease Income | (1,196) | (712) |
Lease, Cost, Total | 8,353 | 7,428 |
Cash paid for amounts included in the measurement of lease liabilities: | ||
Operating cash flows from operating leases | 7,746 | 8,963 |
ROU assets obtained in exchange for lease obligations: | ||
Operating leases | $ 1,183 | $ 2,196 |
Leases - Supplemental Cash Flow
Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Leases [Abstract] | ||
Operating cash flows from operating leases | $ 7,746 | $ 8,963 |
Operating leases | $ 1,183 | $ 2,196 |
Leases - Supplemental Balance S
Leases - Supplemental Balance Sheet and Other Information (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Leases [Abstract] | ||
Finance Lease, Right-of-Use Asset | $ 125,383 | $ 133,126 |
Operating leases: | ||
Operating Lease, Liability | $ 153,298 | $ 161,308 |
Weighted average remaining lease term (in years) | 6 years | 6 years 1 month 6 days |
Weighted average discount rate | 3.41% | 3.40% |
Leases - Maturities of Operatin
Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Lessee, Operating Lease, Liability, Payment, Due [Abstract] | ||
2024 | $ 30,606 | |
2025 | 34,841 | |
2026 | 28,152 | |
2027 | 20,386 | |
2028 | 16,248 | |
Thereafter | 41,304 | |
Total operating lease liabilities | 171,537 | |
Less: Imputed interest | (18,239) | |
Present value of operating lease liabilities | $ 153,298 | $ 161,308 |
Leases Leases - Schedule of Pay
Leases Leases - Schedule of Payments to be Received on Operating Leases (Details) $ in Thousands | Mar. 31, 2024 USD ($) |
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract] | |
2024 | $ 34,210 |
2025 | 39,965 |
2026 | 35,321 |
2027 | 28,349 |
2028 | 24,223 |
Thereafter | 64,371 |
Total undiscounted cash flows | $ 226,439 |
Leases - Narrative (Details)
Leases - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
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 | 3 Months Ended | ||
Mar. 31, 2024 | Dec. 31, 2023 | ||
Debt Instrument [Line Items] | |||
Borrowings (including $123,824 and $123,116 at fair value, respectively) | $ 2,139,498 | $ 2,911,322 | |
Rate | 5.87% | 4.92% | |
Assets Sold under Agreements to Repurchase, Interest Rate | 5.25% | 5.25% | |
Assets Sold under Agreements to Repurchase, Carrying Amount | $ 174,000 | $ 174,000 | |
Total Borrowings | 2,142,824 | 2,915,416 | |
Acquisition Discount on Senior Notes | $ (3,326) | $ (4,094) | |
Subordinated Debentures | |||
Debt Instrument [Line Items] | |||
Rate | 5.90% | [1] | 5.93% |
Subordinated notes due May 2031 | |||
Debt Instrument [Line Items] | |||
Rate Index (Quarterly Reset) | 2.52% | ||
Subordinated notes due May 2031 | Subordinated Debentures | |||
Debt Instrument [Line Items] | |||
Rate | 3.25% | [1] | 3.25% |
Subordinated Notes Due October 30, 2030 | Subordinated Debentures | |||
Debt Instrument [Line Items] | |||
Rate | 4.375% | 4.375% | |
Rate Index (Quarterly Reset) | 4.195% | ||
AFX short-term borrowings | |||
Debt Instrument [Line Items] | |||
Balance | $ 0 | $ 0 | |
Credit-Link Notes | |||
Debt Instrument [Line Items] | |||
Variable interest, percentage rate | 16.03% | 16.02% | |
Other borrowings | $ 123,824 | $ 123,116 | |
Federal Home Loan Bank of San Francisco | Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit, current | $ 300,000 | $ 0 | |
Rate | 4.45% | 0% | |
Federal Home Loan Bank of San Francisco | Secured Debt [Member] | Bank Term Funding Program | |||
Debt Instrument [Line Items] | |||
Line of credit, current | $ 1,545,000 | $ 2,618,300 | |
Rate | 5.40% | 4.37% | |
[1]Rates do not include the effects of discounts and issuance costs. |
Borrowings and Subordinated D_4
Borrowings and Subordinated Debentures - Subordinated Debentures (Details) $ in Thousands, € in Millions | 3 Months Ended | |||||
Mar. 31, 2024 USD ($) Rate | Mar. 31, 2024 EUR (€) | Dec. 31, 2023 USD ($) | ||||
Subordinated Borrowing [Line Items] | ||||||
Subordinated Debentures, Gross | $ 1,012,909 | $ 1,013,419 | ||||
Subordinated debt | $ 937,717 | $ 936,599 | ||||
Rate | 5.87% | 5.87% | 4.92% | |||
Debt Issuance Costs, Gross | $ (4,200) | |||||
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% | |||||
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Subordinated Debt Trust V Due September 2033 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Rate Index (Quarterly Reset) | 3.10% | |||||
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Subordinated Debt Trust VI Due September 2033 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Rate Index (Quarterly Reset) | 3.05% | |||||
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Subordinated Debt Trust CII Due September 2033 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Rate Index (Quarterly Reset) | 2.95% | |||||
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Subordinated Debt Trust VII Due April 2034 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Rate Index (Quarterly Reset) | 2.75% | |||||
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Subordinated Debt Trust CIII Due September 2035 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Rate Index (Quarterly Reset) | 1.69% | |||||
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Subordinated Debt Trust FCCI Due March 2037 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Rate Index (Quarterly Reset) | 1.60% | |||||
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Subordinated Debt Trust FCBI Due December 2035 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Rate Index (Quarterly Reset) | 1.55% | |||||
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Trust Preferred Securities Two Thousand Five Series One | ||||||
Subordinated Borrowing [Line Items] | ||||||
Rate Index (Quarterly Reset) | 1.95% | |||||
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Trust Preferred Securities Two Thousand Five Series Two | ||||||
Subordinated Borrowing [Line Items] | ||||||
Rate Index (Quarterly Reset) | 1.95% | |||||
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Two Thousand Six Two Term Debt Securitization | ||||||
Subordinated Borrowing [Line Items] | ||||||
Rate Index (Quarterly Reset) | 1.95% | |||||
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Trust Preferred Securities Two Thousand Six Series Five | ||||||
Subordinated Borrowing [Line Items] | ||||||
Rate Index (Quarterly Reset) | 1.95% | |||||
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Two Thousand Seven One Term Debt Securitization | ||||||
Subordinated Borrowing [Line Items] | ||||||
Rate Index (Quarterly Reset) | 1.95% | |||||
Prime | Two Thousand Six One Term Debt Securitization | ||||||
Subordinated Borrowing [Line Items] | ||||||
Rate Index (Quarterly Reset) | 1.95% | |||||
Prime | Trust Preferred Securities Two Thousand Six Series Four | ||||||
Subordinated Borrowing [Line Items] | ||||||
Rate Index (Quarterly Reset) | 1.95% | |||||
Subordinated Debentures | ||||||
Subordinated Borrowing [Line Items] | ||||||
Unamortized discount | [1] | $ (75,192) | $ (76,820) | |||
Rate | 5.90% | [2] | 5.90% | [2] | 5.93% | |
Subordinated Debentures | Subordinated Debt Trust V Due September 2033 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 10,310 | $ 10,310 | ||||
Rate | 8.69% | [2] | 8.69% | [2] | 8.74% | |
Subordinated Debentures | Subordinated Debt Trust VI Due September 2033 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 10,310 | $ 10,310 | ||||
Rate | 8.64% | [2] | 8.64% | [2] | 8.70% | |
Subordinated Debentures | Subordinated Debt Trust CII Due September 2033 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 5,155 | $ 5,155 | ||||
Rate | 8.54% | [2] | 8.54% | [2] | 8.59% | |
Subordinated Debentures | Subordinated Debt Trust VII Due April 2034 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 61,856 | $ 61,856 | ||||
Rate | 8.33% | [2] | 8.33% | [2] | 8.40% | |
Subordinated Debentures | Subordinated Debt Trust CIII Due September 2035 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 20,619 | $ 20,619 | ||||
Rate | 7.28% | [2] | 7.28% | [2] | 7.34% | |
Subordinated Debentures | Subordinated Debt Trust FCCI Due March 2037 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 16,495 | $ 16,495 | ||||
Rate | 7.19% | [2] | 7.19% | [2] | 7.25% | |
Subordinated Debentures | Subordinated Debt Trust FCBI Due December 2035 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 10,310 | $ 10,310 | ||||
Rate | 7.14% | [2] | 7.14% | [2] | 7.20% | |
Subordinated Debentures | Trust Preferred Securities Two Thousand Five Series One | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 82,475 | $ 82,475 | ||||
Rate | 7.54% | [2] | 7.54% | [2] | 7.60% | |
Subordinated Debentures | Trust Preferred Securities Two Thousand Five Series Two | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 128,866 | $ 128,866 | ||||
Rate | 7.53% | [2] | 7.53% | [2] | 7.60% | |
Subordinated Debentures | Two Thousand Six One Term Debt Securitization | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 51,545 | $ 51,545 | ||||
Rate | 10.45% | [2] | 10.45% | [2] | 10.45% | |
Subordinated Debentures | Two Thousand Six Two Term Debt Securitization | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 51,550 | $ 51,550 | ||||
Rate | 7.53% | [2] | 7.53% | [2] | 7.60% | |
Subordinated Debentures | Trust Preferred Securities Two Thousand Six Series Three | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | [3] | $ 27,811 | $ 28,453 | |||
Rate | 5.94% | [2] | 5.94% | [2] | 6% | |
Subordinated Debentures | Trust Preferred Securities Two Thousand Six Series Four | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 16,470 | $ 16,470 | ||||
Rate | 10.55% | [2] | 10.55% | [2] | 10.45% | |
Subordinated Debentures | Trust Preferred Securities Two Thousand Six Series Five | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 6,650 | $ 6,650 | ||||
Rate | 7.53% | [2] | 7.53% | [2] | 7.60% | |
Subordinated Debentures | Two Thousand Seven One Term Debt Securitization | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 39,177 | $ 39,177 | ||||
Rate | 7.53% | [2] | 7.53% | [2] | 7.60% | |
Subordinated Debentures | Subordinated notes due May 2031 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 380,783 | [4] | $ 380,651 | |||
Rate | 3.25% | [2] | 3.25% | [2] | 3.25% | |
Subordinated Debentures | Subordinated Notes Due October 30, 2030 | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 75,000 | $ 75,000 | ||||
Rate | 4.375% | 4.375% | 4.375% | |||
Rate Index (Quarterly Reset) | Rate | 4.195% | |||||
Subordinated Debentures | PMB Statutory Trust III | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 7,217 | $ 7,217 | ||||
Rate | 8.97% | 8.97% | 9.02% | |||
Subordinated Debentures | PMB CapitalTrust III | ||||||
Subordinated Borrowing [Line Items] | ||||||
Balance | $ 10,310 | $ 10,310 | ||||
Rate | 7.60% | 7.60% | 7.66% | |||
[1]Amount represents the fair value adjustment on trust preferred securities assumed in acquisitions. (6) Interest rate is fixed until October 30, 2025, when it changes to a floating rate equal to a benchmark rate, which is expected to be 3-month Term SOFR, plus a spread of 419.5 basis points. |
Borrowings and Subordinated D_5
Borrowings and Subordinated Debentures - Narrative (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | |
Federal Reserve Bank Advances | ||
Debt Instrument [Line Items] | ||
Balance | $ 0 | $ 0 |
Secured Debt [Member] | Federal Reserve Bank Advances | ||
Debt Instrument [Line Items] | ||
Borrowing capacity description | 6,900,000,000 | |
Collateralized financings | 7,700,000,000 | |
Securities loaned, fair value of collateral | 1,000,000,000 | |
Secured Debt [Member] | Bank Term Funding Program | Federal Reserve Bank Advances | ||
Debt Instrument [Line Items] | ||
Borrowing capacity description | 1,500,000,000 | |
Securities loaned, fair value of collateral | 1,600,000,000 | |
Unused Lines of Credit | ||
Debt Instrument [Line Items] | ||
Balance | 0 | 0 |
Current borrowing capacity | 290,000,000 | |
Unused commitment fees | 0 | |
AFX short-term borrowings | ||
Debt Instrument [Line Items] | ||
Balance | $ 0 | $ 0 |
Credit-Link Notes | ||
Debt Instrument [Line Items] | ||
Variable interest, percentage rate | 16.03% | 16.02% |
Weighted average interest rate | 10.70% | |
Secured debt | $ 2,460,000,000 | |
Other borrowings | $ 123,824,000 | $ 123,116,000 |
Credit-Link Notes | Highest Rate of Spread | ||
Debt Instrument [Line Items] | ||
Variable interest, percentage rate | 13.25% | |
Credit-Link Notes | Lowest Rate of Spread | ||
Debt Instrument [Line Items] | ||
Variable interest, percentage rate | 8% | |
Federal Home Loan Bank of San Francisco | ||
Debt Instrument [Line Items] | ||
Collateralized financings | $ 10,200,000,000 | |
Securities loaned, fair value of collateral | 20,100,000 | |
Letters of credit outstanding, amount | 307,400,000 | 243,800,000 |
Federal Home Loan Bank of San Francisco | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Borrowing capacity description | 6,300,000,000 | |
Line of credit, current | 300,000,000 | 0 |
Federal Home Loan Bank of San Francisco | Secured Debt [Member] | Bank Term Funding Program | ||
Debt Instrument [Line Items] | ||
Line of credit, current | 1,545,000,000 | $ 2,618,300,000 |
Federal Home Loan Bank of San Francisco | Secured Debt [Member] | Line Of Credit One | ||
Debt Instrument [Line Items] | ||
Line of credit, current | 150,000,000 | |
Federal Home Loan Bank of San Francisco | Secured Debt [Member] | Line Of Credit Two | ||
Debt Instrument [Line Items] | ||
Line of credit, current | $ 150,000,000 |
Derivatives (Details)
Derivatives (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | $ 300,000 | |
Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 526,351 | $ 231,600 |
Derivative assets | 13,913 | 12,178 |
Interest rate contracts | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 466,990 | 168,850 |
Derivative assets | 9,035 | 6,426 |
Interest rate contracts | Liability | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 166,990 | 468,850 |
Derivative liabilities | 7,262 | 10,421 |
Foreign exchange contracts | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 42,417 | 45,742 |
Derivative assets | 1,170 | 1,883 |
Foreign exchange contracts | Liability | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 42,417 | 45,742 |
Derivative liabilities | 75 | 128 |
Interest rate and economic contracts | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 509,407 | 214,592 |
Derivative assets | 10,205 | 8,309 |
Interest rate and economic contracts | Liability | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 209,407 | 514,592 |
Derivative liabilities | 7,337 | 10,549 |
Equity warrant assets | Assets | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | 16,944 | 17,008 |
Derivative assets | $ 3,708 | $ 3,869 |
Derivatives - Narrative (Detail
Derivatives - Narrative (Details) $ in Thousands, € in Millions | Mar. 31, 2024 USD ($) | Mar. 31, 2024 EUR (€) |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | $ 300,000 | |
Euribor-based floating rate instrument, Fixed Rate | 2.76% | 2.76% |
Cash Flow Hedge Derivative Instrument Assets at Fair Value | $ 1,700 | |
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax | 300 | |
Interest Rate Contract | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative Asset, Notional Amount | $ 167,000 | |
Trust Preferred Securities Two Thousand Six Series Three | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Denomination value | € | € 25.8 |
Commitments and Contingencies -
Commitments and Contingencies - Summary of Commitments (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Commitments and Contingencies Disclosure [Abstract] | ||
Loan commitments to extend credit | $ 5,482,672 | $ 5,578,907 |
Standby letters of credit | 248,485 | 252,572 |
Total | $ 5,731,157 | $ 5,831,479 |
Commitments and Contingencies_2
Commitments and Contingencies - Years In Which Commitments are Expected to be Paid (Details) $ in Thousands | Mar. 31, 2024 USD ($) |
Other Commitments [Line Items] | |
Commitments to contribute capital to small business investment companies and CRA-related loan pools | $ 72,889 |
2024 | |
Other Commitments [Line Items] | |
Commitments to contribute capital to small business investment companies and CRA-related loan pools | 36,445 |
2025 | |
Other Commitments [Line Items] | |
Commitments to contribute capital to small business investment companies and CRA-related loan pools | $ 36,444 |
Commitments and Contingencies_3
Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions | Mar. 31, 2024 | Dec. 31, 2023 |
Commitments and Contingencies Disclosure [Abstract] | ||
Commitment to contribute capital | $ 72.9 | $ 94.5 |
Fair Value Election (Details)
Fair Value Election (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Fair Value Election [Abstract] | ||
Other Borrowings, Fair Value Disclosure | $ 123,824 | $ 123,116 |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Other Borrowings, Fair Value Disclosure | 123,824 | 123,116 |
Borrowings - Credit-Link Notes | 123,700 | |
Credit-Link Notes | ||
Fair Value Election [Abstract] | ||
Other Borrowings, Fair Value Disclosure | 123,824 | 123,116 |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Other Borrowings, Fair Value Disclosure | $ 123,824 | $ 123,116 |
Fair Value Election, Credit Lin
Fair Value Election, Credit Link Notes Fair, Value Option (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Changes in Fair Value - Gains (Losses) | $ 348 | $ (1,998) |
Changes in Fair Value - Other Comprehensive Income | $ 1,251 | $ 0 |
Fair Value Election, Credit L_2
Fair Value Election, Credit Link, Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Fair Value Disclosures [Abstract] | ||
Other Borrowings, Fair Value Disclosure | $ 123,824 | $ 123,116 |
Borrowings - Credit-Link Notes | 123,700 | |
Aggregate Unpaid Principal Balance in Excess of (Less Than) Fair Value | $ (120) | $ 1,479 |
Fair Value Measurements - Narra
Fair Value Measurements - Narrative (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | |
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 | $ 38,100,000 | |
SBIC Investments | 112,982,000 | $ 105,433,000 |
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 | $ (2,000) |
Fair Value Measurements - Asset
Fair Value Measurements - Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 2,286,682 | 2,346,864 |
Other Borrowings, Fair Value Disclosure | 123,824 | 123,116 |
Securities available-for-sale, at fair value | 2,286,682 | 2,346,864 |
Credit-Link Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Borrowings, Fair Value Disclosure | 123,824 | 123,116 |
Agency residential CMOs | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 281,569 | 284,334 |
Collateralized loan obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 109,078 | 108,416 |
Municipal securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 33,259 | 28,083 |
Agency commercial MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 243,387 | 253,306 |
SBA securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 12,911 | 13,739 |
Corporate Debt Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 277,198 | 267,232 |
U.S. Treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 4,968 | |
Private label commercial MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 19,491 | 20,813 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 153,412 | 158,412 |
Asset-backed Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale, at fair value, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 18,908 | 19,952 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity warrants | 3,689 | |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity warrants | 3,708 | 3,689 |
Interest rate and economic contracts | 10,205 | 8,309 |
Securities available-for-sale, at fair value, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 2,286,682 | |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 1,137,469 | 1,187,609 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 281,569 | 284,334 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 109,078 | 108,416 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 33,259 | 28,083 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 243,387 | 253,306 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 12,911 | 13,739 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 277,198 | 267,232 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 4,968 | |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 19,491 | 20,813 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 153,412 | 158,412 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 18,908 | 19,952 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 0 | 4,968 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 4,968 | |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, 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 | 10,205 | 8,309 |
Equity Securities, FV-NI | 0 | 0 |
Securities available-for-sale, at fair value, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 2,284,582 | 2,301,647 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 1,137,469 | 1,187,609 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 281,569 | 284,334 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 109,078 | 108,416 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 33,259 | 28,083 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 243,387 | 253,306 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 12,911 | 13,739 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 275,098 | 226,983 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 19,491 | 20,813 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 153,412 | 158,412 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 18,908 | 19,952 |
Fair Value, Measurements, Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity warrants | 3,708 | 3,689 |
Interest rate and economic contracts | 0 | 0 |
Equity Securities, FV-NI | 0 | 0 |
Securities available-for-sale, at fair value, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 2,100 | 40,249 |
Other Borrowings | 123,824 | 123,116 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 2,100 | 40,249 |
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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, 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, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | $ 0 | $ 0 |
Fair Value Measurements - Quant
Fair Value Measurements - Quantitative Inputs and Assumptions Used for Equity Warrants (Details) - Fair Value, Measurements, Recurring - Level 3 | 3 Months Ended |
Mar. 31, 2024 | |
Weighted Average | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Equity Warrants, Measurement Input, Remaining Life | 3 years 2 months 26 days |
Minimum | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Equity Warrants, Measurement Input, Remaining Life | 29 days |
Maximum | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Equity Warrants, Measurement Input, Remaining Life | 4 years 11 months 19 days |
Measurement Input, Price Volatility | Weighted Average | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Volatility | 0.267 |
Measurement Input, Price Volatility | Minimum | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Volatility | 0.190 |
Measurement Input, Price Volatility | Maximum | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Volatility | 1.969 |
Measurement Input, Risk Free Interest Rate | Weighted Average | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Volatility | 0.045 |
Measurement Input, Risk Free Interest Rate | Minimum | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Volatility | 0.042 |
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 | ||
Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | |
Level 3 CMO [Roll Forward] | |||
Other Borrowings, Fair Value Disclosure | $ 123,824 | $ 123,116 | |
Proceeds from borrowings | 300,000 | $ 10,371,337 | |
Unrealized net holding (losses) gains on securities available-for-sale arising during the period | (18,208) | 161,900 | $ 67,971 |
Credit-Link Notes | |||
Level 3 CMO [Roll Forward] | |||
Other Borrowings, Fair Value Disclosure | 123,824 | 123,116 | |
Level 3 | |||
Level 3 CMO [Roll Forward] | |||
Equity warrants, Balance, beginning of period | 3,689 | ||
Total included in earnings | 178 | ||
Total included in other comprehensive income | 0 | ||
Payments for Repurchase of Warrants | 0 | ||
Sales, Equity Warrants | 115 | ||
Equity warrants, Balance, end of period | 3,689 | ||
Warrant income (loss) | 272 | ||
Fair Value, Equity, Transfers to Level 1, Amount | 2 | ||
Fair Value, Assets, Level 3 to Level 2 Transfers, Amount | 0 | ||
Level 3 | Credit-Link Notes | |||
Level 3 CMO [Roll Forward] | |||
Total included in earnings | 348 | ||
Total included in other comprehensive income | 1,251 | ||
Proceeds from borrowings | 0 | ||
Repayments of borrowings | (891) | ||
Debt Securities Exercises and Settlements | 0 | ||
Fair Value, Equity, Transfers to Level 1, Amount | 0 | ||
Fair Value, Assets, Level 3 to Level 2 Transfers, Amount | 0 | ||
Level 3 | Corporate Debt Securities | |||
Level 3 CMO [Roll Forward] | |||
Total included in earnings | 0 | ||
Proceeds from borrowings | 0 | ||
Repayments of borrowings | 0 | ||
Debt Securities Exercises and Settlements | 0 | ||
Fair Value, Measurements, Recurring | |||
Level 3 CMO [Roll Forward] | |||
Equity warrants, Balance, beginning of period | 3,689 | ||
Equity warrants, Balance, end of period | 3,708 | 3,689 | |
Fair Value, Measurements, Recurring | Level 3 | |||
Level 3 CMO [Roll Forward] | |||
Equity warrants, Balance, beginning of period | 3,689 | ||
Equity warrants, Balance, end of period | 3,708 | 3,689 | |
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 | 2,100 | 40,249 | |
Total included in other comprehensive income | 0 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 40,249 | ||
Fair Value, Measurements, Nonrecurring | |||
Level 3 CMO [Roll Forward] | |||
Assets | 8,150 | 9,824 | |
Fair Value, Measurements, Nonrecurring | Non Purchased Credit Impaired Loans and Leases | |||
Level 3 CMO [Roll Forward] | |||
Assets | 5,639 | 6,402 | |
Fair Value, Measurements, Nonrecurring | Level 3 | |||
Level 3 CMO [Roll Forward] | |||
Assets | 3,037 | 2,351 | |
Fair Value, Measurements, Nonrecurring | Level 3 | Non Purchased Credit Impaired Loans and Leases | |||
Level 3 CMO [Roll Forward] | |||
Assets | 3,037 | $ 2,351 | |
Fair Value, Measurements, Nonrecurring | Level 3 | No Discounts | Third party appraisals | |||
Level 3 CMO [Roll Forward] | |||
Assets | 3,037 | ||
Asset-backed | Fair Value, Measurements, Recurring | Level 3 | |||
Level 3 CMO [Roll Forward] | |||
Unrealized net holding (losses) gains on securities available-for-sale arising during the period | (900) | ||
Fair Value, Assets, Level 3 to Level 2 Transfers, Amount | $ (38,149) |
Fair Value Measurements - Ass_2
Fair Value Measurements - Assets Measured at Fair Value on a Non-Recurring Basis (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | $ 8,150 | $ 9,824 |
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 | 5,113 | 7,473 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 3,037 | 2,351 |
Non Purchased Credit Impaired Loans and Leases | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 5,639 | 6,402 |
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 | 2,602 | 4,051 |
Non Purchased Credit Impaired Loans and Leases | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 3,037 | 2,351 |
Other real estate and foreclosed assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 2,511 | 3,422 |
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 | 2,511 | 3,422 |
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 | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total losses | $ 1,129 | $ 4,911 |
Non Purchased Credit Impaired Loans and Leases | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total losses | 832 | 4,911 |
Other real estate and foreclosed assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total losses | $ 297 | $ 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 | Mar. 31, 2024 | Dec. 31, 2023 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 8,150 | $ 9,824 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 3,037 | 2,351 |
Non Purchased Credit Impaired Loans and Leases | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 5,639 | 6,402 |
Non Purchased Credit Impaired Loans and Leases | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 3,037 | 2,351 |
Other real estate and foreclosed assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | 2,511 | 3,422 |
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 | $ 3,037 |
Fair Value Measurements - Carry
Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Certain Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Cash and due from banks | $ 199,922 | $ 202,427 | |||
Interest-earning deposits in financial institutions | 2,885,306 | 5,175,149 | |||
Securities available-for-sale, Carrying Amount | 2,286,682 | 2,346,864 | |||
Investment in FHLB stock, Carrying Amount | 129,314 | 126,346 | |||
Investment in FHLB stock, Fair Value | 129,314 | 126,346 | |||
Loans Held-for-sale, Fair Value Disclosure | 82,383 | 126,646 | |||
Loans held for sale | 80,752 | 122,757 | |||
Securities held-to-maturity, at amortized cost, net of allowance for credit losses (fair value of $2,153,349 and $2,168,316, respectively) | 2,291,984 | [1] | 2,287,291 | [2] | |
Loans and leases, net | [3] | 25,181,519 | 25,208,000 | ||
Loans and leases held for investment, net | 23,553,410 | 23,551,725 | |||
Servicing Asset | 21,384 | 22,174 | |||
Equity Securities, FV-NI | 1 | 1 | |||
Servicing rights | 22,242 | 22,174 | |||
Demand, interest checking, money market, and savings deposits | 22,706,213 | 23,768,896 | |||
Time deposits | 6,186,194 | 6,632,873 | |||
Time deposits | 6,260,651 | 6,732,246 | |||
Borrowings (including $123,824 and $123,116 at fair value, respectively) | 2,139,498 | 2,911,322 | |||
Borrowings | 2,135,757 | 2,908,527 | |||
Subordinated debt | 937,717 | 936,599 | |||
Subordinated Debt Obligations, Fair Value Disclosure | 850,984 | 851,625 | |||
Derivative Liability | 7,337 | 10,549 | |||
Securities held to maturity, fair value | 2,153,349 | [1] | 2,168,316 | [2] | |
Securities available-for-sale, at fair value, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 2,286,682 | 2,346,864 | |||
U.S. Treasury securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Securities held-to-maturity, at amortized cost, net of allowance for credit losses (fair value of $2,153,349 and $2,168,316, respectively) | 187,759 | 187,033 | |||
Securities held to maturity, fair value | 172,338 | 175,579 | |||
Level 1 | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Cash and due from banks | 199,922 | 202,427 | |||
Interest-earning deposits in financial institutions | 2,885,306 | 5,175,149 | |||
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 | 0 | 0 | |||
Subordinated Debt Obligations, Fair Value Disclosure | 0 | 0 | |||
Level 2 | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Cash and due from banks | 0 | 0 | |||
Interest-earning deposits in financial institutions | 0 | 0 | |||
Investment in FHLB stock, Fair Value | 129,314 | 126,346 | |||
Loans Held-for-sale, Fair Value Disclosure | 82,383 | 126,646 | |||
Demand, interest checking, money market, and savings deposits | 22,706,213 | 23,768,896 | |||
Time deposits | 6,260,651 | 6,732,246 | |||
Borrowings | 2,011,933 | 2,785,411 | |||
Subordinated Debt Obligations, Fair Value Disclosure | 850,984 | 851,625 | |||
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 | 23,550,808 | 23,547,674 | |||
Equity warrants | 3,689 | ||||
Demand, interest checking, money market, and savings deposits | 0 | 0 | |||
Time deposits | 0 | 0 | |||
Borrowings | 123,824 | 123,116 | |||
Subordinated Debt Obligations, Fair Value Disclosure | 0 | 0 | |||
Fair Value, Measurements, Recurring | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Equity warrants | 3,708 | 3,689 | |||
Other derivative assets, Fair Value | 10,205 | 8,309 | |||
Derivative liabilities | 7,337 | 10,549 | |||
Securities available-for-sale, at fair value, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 2,286,682 | ||||
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 | |||
Securities held to maturity, fair value | 172,338 | ||||
Securities available-for-sale, at fair value, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 0 | 4,968 | |||
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 | 10,205 | 8,309 | |||
Equity Securities, FV-NI | 0 | 0 | |||
Servicing rights | 0 | 0 | |||
Derivative liabilities | 7,337 | 10,549 | |||
Securities held to maturity, fair value | 1,963,818 | 1,976,015 | |||
Securities available-for-sale, at fair value, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 2,284,582 | 2,301,647 | |||
Fair Value, Measurements, Recurring | Level 3 | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||
Equity warrants | 3,708 | 3,689 | |||
Other derivative assets, Fair Value | 0 | 0 | |||
Equity Securities, FV-NI | 0 | 0 | |||
Servicing rights | 22,242 | 22,174 | |||
Derivative liabilities | 0 | 0 | |||
Securities held to maturity, fair value | 17,193 | 16,722 | |||
Securities available-for-sale, at fair value, net of allowance for credit losses (amortized cost of $2,657,281 and $2,699,255, respectively) | 2,100 | 40,249 | |||
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 | $ 2,602 | $ 4,051 | |||
[1]Excludes accrued interest receivable of $11.3 million at March 31, 2024 which is recorded in "Other assets" on the condensed consolidated balance sheets[2]Excludes accrued interest receivable of $13.4 million at December 31, 2023 which is recorded in "Other assets" on the condensed consolidated balance sheets[3]Excludes accrued interest receivable of $109.3 million and $111.3 million at March 31, 2024 and December 31, 2023, respectively, which is recorded in "Other assets" on the condensed consolidated balance sheets. |
Fair Value Measurements - Qua_2
Fair Value Measurements - Quantitations and Assumptions for Fair Value of Assets Serviced by Third Party (Details) - Level 3 - Fair Value, Measurements, Recurring | 3 Months Ended |
Mar. 31, 2024 | |
Minimum | Spread to 10 Year Treasury | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Corporate Debt, Measurement Input | 6.30% |
Minimum | Measurement Input, Discount Rate | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Corporate Debt, Measurement Input | 10.50% |
Maximum | Spread to 10 Year Treasury | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Corporate Debt, Measurement Input | 8.80% |
Maximum | Measurement Input, Discount Rate | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Corporate Debt, Measurement Input | 13% |
Weighted Average | Spread to 10 Year Treasury | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Volatility | 0.076 |
Weighted Average | Measurement Input, Discount Rate | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Volatility | 0.118 |
Earnings (Loss) Per Share - Net
Earnings (Loss) Per Share - Net income per share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | ||||||
Nov. 30, 2023 | Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | ||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||||
Net earnings (loss) available to common and equivalent stockholders, basic | $ 20,905 | $ (492,902) | $ (1,205,371) | ||||
Less: Earnings allocated to unvested restricted stock | [1] | (319) | |||||
Net earnings (loss) allocated to common and equivalent shares | $ 20,852 | $ (1,205,690) | |||||
Weighted average basic shares and unvested restricted stock outstanding (shares) | 168,973,000 | 78,985,000 | [2] | ||||
Less: weighted-average unvested restricted stock outstanding (shares) | (830,000) | [3] | (1,517,000) | [2] | |||
Weighted-average basic shares outstanding (shares) | 168,143,000 | 77,468,000 | [2] | ||||
Basic earnings (loss) per share (usd per share) | $ 0.12 | $ (4.55) | $ (15.56) | ||||
Net earnings from continuing operations allocated to common shares | $ 20,852 | $ (1,205,690) | |||||
Weighted average diluted shares outstanding, diluted (usd per share) | 168,143,000 | 77,468,000 | [2] | ||||
Diluted net income per share (usd per share) | $ 0.12 | $ (4.55) | $ (15.56) | ||||
Pacific Western Bank | |||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||||
Stock issued during period, shares, acquisitions | 0.6569 | ||||||
Common Stock | |||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||||
Less: Earnings allocated to unvested restricted stock | [1] | $ (53) | |||||
Voting Common Stock | Common Stock | |||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||||
Net earnings (loss) available to common and equivalent stockholders, basic | 19,521 | ||||||
Less: Earnings allocated to unvested restricted stock | (53) | ||||||
Net earnings (loss) allocated to common and equivalent shares | $ 19,468 | ||||||
Weighted average basic shares and unvested restricted stock outstanding (shares) | 157,838,000 | ||||||
Less: weighted-average unvested restricted stock outstanding (shares) | (830,000) | ||||||
Weighted-average basic shares outstanding (shares) | 157,008,000 | ||||||
Basic earnings (loss) per share (usd per share) | $ 0.12 | ||||||
Net earnings from continuing operations allocated to common shares | $ 19,468 | ||||||
Weighted average diluted shares outstanding, diluted (usd per share) | 157,008,000 | ||||||
Diluted net income per share (usd per share) | $ 0.12 | ||||||
Class B Nonvoting | Common Stock | |||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||||
Net earnings (loss) available to common and equivalent stockholders, basic | $ 59 | ||||||
Net earnings (loss) allocated to common and equivalent shares | $ 59 | ||||||
Weighted average basic shares and unvested restricted stock outstanding (shares) | 477,000 | ||||||
Less: weighted-average unvested restricted stock outstanding (shares) | 0 | ||||||
Weighted-average basic shares outstanding (shares) | 477,000 | ||||||
Basic earnings (loss) per share (usd per share) | $ 0.12 | ||||||
Net earnings from continuing operations allocated to common shares | $ 59 | ||||||
Weighted average diluted shares outstanding, diluted (usd per share) | 477,000 | ||||||
Diluted net income per share (usd per share) | $ 0.12 | ||||||
Nonvoting Common Stock | Common Stock | |||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||||
Net earnings (loss) available to common and equivalent stockholders, basic | $ 1,325 | ||||||
Net earnings (loss) allocated to common and equivalent shares | $ 1,325 | ||||||
Nonvoting Common Stock Equivalents | Common Stock | |||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||||
Weighted average basic shares and unvested restricted stock outstanding (shares) | 10,658,000 | ||||||
Less: weighted-average unvested restricted stock outstanding (shares) | 0 | ||||||
Weighted-average basic shares outstanding (shares) | 10,658,000 | ||||||
Basic earnings (loss) per share (usd per share) | $ 0.12 | ||||||
Net earnings from continuing operations allocated to common shares | $ 1,325 | ||||||
Weighted average diluted shares outstanding, diluted (usd per share) | 10,658,000 | ||||||
Diluted net income per share (usd per share) | $ 0.12 | ||||||
[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.[2]Share amounts for the three months ended March 31, 2023 have been restated by multiplying historical amounts by the Merger exchange ratio of 0.6569[3]Share amounts for the three months ended March 31, 2023 have been restated by multiplying historical amounts by the Merger exchange ratio of 0.6569 |
Earnings (Loss) Per Share - Sch
Earnings (Loss) Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares | 3 Months Ended | ||||
Nov. 30, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Weighted Average Number of Shares, Restricted Stock | 830,000 | [1] | 1,517,000 | [2] | |
Class Of Warrant Outstanding | 18,902 | 0 | |||
Pacific Western Bank | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Stock issued during period, shares, acquisitions | 0.6569 | ||||
[1]Share amounts for the three months ended March 31, 2023 have been restated by multiplying historical amounts by the Merger exchange ratio of 0.6569[2]Share amounts for the three months ended March 31, 2023 have been restated by multiplying historical amounts by the Merger exchange ratio of 0.6569 |
Revenue From Contracts With C_3
Revenue From Contracts With Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Dec. 31, 2023 | Mar. 31, 2023 | |
Disaggregation of Revenue [Line Items] | |||
Total interest income | $ 478,704 | $ 467,240 | $ 517,788 |
Service charges on deposit accounts | 4,705 | 4,562 | 3,573 |
Other commissions and fees | 8,142 | 8,860 | 10,344 |
Leased equipment income | 11,716 | 12,369 | 13,857 |
(Loss) gain on sale of loans and leases | (448) | (3,526) | 2,962 |
Other income | 6,125 | 8,606 | 4,890 |
Total noninterest income (loss) | 33,816 | (400,402) | 36,391 |
Revenues | 512,520 | 554,179 | |
Service charges on deposit accounts | 9,781 | 8,274 | |
Dividends and Gains (Losses) on Equity Investments | 3,068 | 1,098 | |
Warrant income (loss) | 178 | (173) | (333) |
LOCOM HFS adjustment | 330 | $ 3,175 | 0 |
Products and services transferred at a point in time | 4,878 | 4,352 | |
Products and services transferred over time | 4,903 | 3,922 | |
Interest Income | |||
Disaggregation of Revenue [Line Items] | |||
Service charges on deposit accounts | 0 | 0 | |
Service charges on deposit accounts | |||
Disaggregation of Revenue [Line Items] | |||
Service charges on deposit accounts | 4,705 | 3,573 | |
Other commissions and fees | |||
Disaggregation of Revenue [Line Items] | |||
Service charges on deposit accounts | 4,983 | 4,432 | |
Leased equipment income | |||
Disaggregation of Revenue [Line Items] | |||
Service charges on deposit accounts | 0 | 0 | |
Gain on sale of loans | |||
Disaggregation of Revenue [Line Items] | |||
Service charges on deposit accounts | 0 | 0 | |
Other income | |||
Disaggregation of Revenue [Line Items] | |||
Service charges on deposit accounts | 93 | 269 | |
Noninterest Income | |||
Disaggregation of Revenue [Line Items] | |||
Service charges on deposit accounts | 9,781 | 8,274 | |
Dividends and Gains (Losses) on Equity Investments | |||
Disaggregation of Revenue [Line Items] | |||
Service charges on deposit accounts | 0 | 0 | |
Warranty Income | |||
Disaggregation of Revenue [Line Items] | |||
Service charges on deposit accounts | 0 | 0 | |
LOCOM HFS Adjustment Group | |||
Disaggregation of Revenue [Line Items] | |||
Service charges on deposit accounts | $ 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 | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Revenue From Contracts With Customers [Abstract] | ||
Products and services transferred at a point in time | $ 4,878 | $ 4,352 |
Products and services transferred over time | 4,903 | 3,922 |
Total revenue from contracts with customers | $ 9,781 | $ 8,274 |
Revenue From Contracts With C_5
Revenue From Contracts With Customers - Contract Balances (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Mar. 31, 2024 | Sep. 30, 2023 | |
Statement of Financial Position [Abstract] | ||
Receivables, which are included in "Other assets" | $ 1,354 | $ 1,615 |
Contract liabilities, which are included in "Accrued interest payable and other liabilities" | $ 401 | $ 418 |
Revenue From Contracts With C_6
Revenue From Contracts With Customers - Narrative (Details) | Dec. 31, 2023 USD ($) |
Revenue From Contracts With Customers [Abstract] | |
Contract with Customer, Liability | $ 17,000 |
Stockholders' Equity - Narrativ
Stockholders' Equity - Narrative (Details) - USD ($) | 3 Months Ended | ||||
Nov. 30, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | Jun. 06, 2022 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Restricted Stock Amortization | $ 4,400,000 | $ 5,000,000 | |||
Vesting period of time-based restricted stock, lower limit | 3 years | ||||
Preferred stock issued (shares) | 513,250 | ||||
Preferred Stock, Shares Authorized | 50,000,000 | ||||
Common stock, outstanding (in shares) | 157,608,893 | 156,790,349 | |||
Common stock, issued (in shares) | 158,390,708 | 157,651,752 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 24.60 | ||||
Centerbridge Investor | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Common Stock, Warrants Issued, Per Share Price | $ 15.375 | ||||
BANC | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Common stock, outstanding (in shares) | 156,790,349 | ||||
Common Stock, Shares Authorized | 446,863,844 | 157,608,893 | |||
Preferred Class A | Pacific Western Bank | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Investment Interest Rate | 7.75% | ||||
NVCE Non-voting Share Class | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Preferred Stock, Shares Authorized | 27,000,000 | 27,000,000 | |||
Common stock, outstanding (in shares) | 10,145,600 | 10,829,990 | |||
NVCE Non-voting Share Class | Centerbridge Investor | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Common stock, issued (in shares) | 3,048,780 | ||||
NVCE Non-voting Share Class | Warburg Investors | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Common stock, issued (in shares) | 15,853,659 | ||||
Class B Nonvoting | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Common stock, outstanding (in shares) | 477,321 | 477,321 | |||
Common Stock, Shares Authorized | 3,136,156 | ||||
Common stock, issued (in shares) | 477,321 | 477,321 | |||
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) | 296,614 | ||||
PacWest 2017 Stock Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares available for grant (shares) | 6,983,382 | ||||
Unrecognized share based compensation expense | $ 46,100,000 | ||||
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) | 781,815 | ||||
PacWest 2017 Revised Stock Incentive Plan | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares authorized (shares) | 8,789,197 | ||||
PacWest 2003 Stock Incentive Plan | Restricted Stock | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Unvested restricted shares (shares) | 1,825,307 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 01, 2023 | |
Related Party Transaction [Line Items] | |||
Loans and leases receivable, related parties | $ 0 | ||
Costs and expenses, related party | $ 2,300 | $ 1,600 | |
Intra Fi Network LLC | Warburg Investors | |||
Related Party Transaction [Line Items] | |||
Equity method investment, ownership percentage | 9.90% |
Item 5. Other Information (Deta
Item 5. Other Information (Details) | 3 Months Ended |
Mar. 31, 2024 numberOfOfficers | |
Nonmonetary Transactions [Abstract] | |
Rule 10b5-1 Trading Arrangement Adopted | 0 |
Non-Rule 10b5-1 Trading Arrangement Adopted | 0 |
Uncategorized Items - pacw-2024
Label | Element | Value |
Venture Capital Loans [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Modified, Accumulated | us-gaap_FinancingReceivableModificationsRecordedInvestment | $ 613,000 |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | pacw_FinanceReceivableLoanRestructuringAndRefinancingPercentOfAmortizedLoanPortfolioClass | 0% |
Venture Capital Loans [Member] | Commercial Portfolio Segment [Member] | Extended Maturity and Interest Rate Reduction [Member] | ||
Financing Receivable, Modified, Weighted Average Term Increase from Modification | us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification | 11 months |
Venture Capital Loans [Member] | Commercial Portfolio Segment [Member] | Extended Maturity and Interest Rate Reduction [Member] | Interest Only [Member] | ||
Financing Receivable, Modified, Weighted Average Term Increase from Modification | us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification | 11 months |
Venture Capital Loans [Member] | Commercial Portfolio Segment [Member] | Term Extension and Payment Delay [Member] | ||
Financing Receivable, Modified, Accumulated | us-gaap_FinancingReceivableModificationsRecordedInvestment | $ 613,000 |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | pacw_FinanceReceivableLoanRestructuringAndRefinancingPercentOfAmortizedLoanPortfolioClass | 0% |
Other Commercial [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Modified, Accumulated | us-gaap_FinancingReceivableModificationsRecordedInvestment | $ 2,102,000 |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | pacw_FinanceReceivableLoanRestructuringAndRefinancingPercentOfAmortizedLoanPortfolioClass | 0.20% |
Other Commercial [Member] | Commercial Portfolio Segment [Member] | Extended Maturity [Member] | ||
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | pacw_FinanceReceivableLoanRestructuringAndRefinancingPercentOfAmortizedLoanPortfolioClass | 0.10% |
Finance Receivable, Loan Restructuring and Refinancing, Amortized Balance | pacw_FinanceReceivableLoanRestructuringAndRefinancingAmortizedBalance | $ 2,827,000 |
Other Commercial [Member] | Commercial Portfolio Segment [Member] | Payment Delay [Member] | ||
Financing Receivable, Modified, Accumulated | us-gaap_FinancingReceivableModificationsRecordedInvestment | $ 45,000 |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | pacw_FinanceReceivableLoanRestructuringAndRefinancingPercentOfAmortizedLoanPortfolioClass | 0% |
Other Commercial [Member] | Commercial Portfolio Segment [Member] | Term Extension and Interest Rate Reduction [Member] | ||
Financing Receivable, Modified, Accumulated | us-gaap_FinancingReceivableModificationsRecordedInvestment | $ 0 |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | pacw_FinanceReceivableLoanRestructuringAndRefinancingPercentOfAmortizedLoanPortfolioClass | 0% |
Other Commercial [Member] | Commercial Portfolio Segment [Member] | Extended Maturity [Member] | ||
Financing Receivable, Modified, Weighted Average Term Increase from Modification | us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification | 3 months |
Financing Receivable, Modified, Weighted Average Term Increase from Modification | us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification | 12 months |
Financing Receivable, Modified, Accumulated | us-gaap_FinancingReceivableModificationsRecordedInvestment | $ 2,057,000 |
Finance Receivable, Loan Restructuring and Refinancing, Percent of Amortized Loan Portfolio Class | pacw_FinanceReceivableLoanRestructuringAndRefinancingPercentOfAmortizedLoanPortfolioClass | 0.20% |