| LOANS AND CREDIT QUALITY | LOANS AND CREDIT QUALITY: For a detailed discussion of loans and credit quality, including accounting policies and the methodology used to estimate the allowance for credit losses, see Note 1, Summary of Significant Accounting Policies, and Note 5 , Loans and Credit Quality, within our 2018 Annual Report on Form 10-K. The Company's portfolio of loans held for investment is divided into two portfolio segments, consumer loans and commercial loans, which are the same segments used to determine the allowance for loan losses. Within each portfolio segment, the Company monitors and assesses credit risk based on the risk characteristics of each of the following loan classes: single family and home equity and other loans within the consumer loan portfolio segment and non-owner occupied commercial real estate, multifamily, construction/land development, owner occupied commercial real estate and commercial business loans within the commercial loan portfolio segment. Loans held for investment consist of the following: (in thousands) At March 31, At December 31, Consumer loans Single family (1) $ 1,348,554 $ 1,358,175 Home equity and other 585,167 570,923 Total consumer loans 1,933,721 1,929,098 Commercial real estate loans Non-owner occupied commercial real estate 780,939 701,928 Multifamily 939,656 908,015 Construction/land development 837,279 794,544 Total commercial real estate loans 2,557,874 2,404,487 Commercial and industrial loans Owner occupied commercial real estate 450,450 429,158 Commercial business 421,534 331,004 Total commercial and industrial loans 871,984 760,162 Loans held for investment before deferred fees, costs and allowance 5,363,579 5,093,747 Net deferred loan fees and costs 25,566 23,094 5,389,145 5,116,841 Allowance for loan losses (43,176 ) (41,470 ) Total loans held for investment $ 5,345,969 $ 5,075,371 (1) Includes $4.8 million and $4.1 million at March 31, 2019 and December 31, 2018 , respectively, of loans where a fair value option election was made at the time of origination and, therefore, are carried at fair value with changes recognized in the consolidated statements of operations. Loans in the amount of $1.93 billion and $2.16 billion at March 31, 2019 and December 31, 2018 , respectively, were pledged to secure borrowings from the Federal Home Loan Bank ("FHLB") as part of our liquidity management strategy. Additionally, loans totaling $449.6 million and $502.7 million at March 31, 2019 and December 31, 2018 , respectively, were pledged to secure borrowings from the Federal Reserve Bank. The FHLB and Federal Reserve Bank do not have the right to sell or re-pledge these loans. Credit Risk Concentrations Concentrations of credit risk arise when a number of customers are engaged in similar business activities or activities in the same geographic region, or when they have similar economic features that would cause their ability to meet contractual obligations to be similarly affected by changes in economic conditions. Loans held for investment are primarily secured by real estate located in the Pacific Northwest, California and Hawaii. At March 31, 2019 , we had concentrations representing 10% or more of the total portfolio by state and property type for the loan classes of single family and multifamily within the states of Washington and California, which represented 12.5% and 10.2% of the total portfolio, respectively. At December 31, 2018 , we had concentrations representing 10% or more of the total portfolio by state and property type for the loan classes of single family and multifamily within the states of Washington and California, which represented 13.1% and 10.2% of the total portfolio, respectively. Credit Quality Management considers the level of allowance for loan losses to be appropriate to cover credit losses inherent within the loans held for investment portfolio as of March 31, 2019 . In addition to the allowance for loan losses, the Company maintains a separate allowance for losses related to unfunded loan commitments, and this amount is included in accounts payable and other liabilities on our consolidated statements of financial condition. Collectively, these allowances are referred to as the allowance for credit losses. The allowance for unfunded commitments was $1.4 million at both March 31, 2019 and March 31, 2018 . For further information on the policies that govern the determination of the allowance for loan losses levels, see Note 1, Summary of Significant Accounting Policies, and Note 5 , Loans and Credit Quality, within our 2018 Annual Report on Form 10-K. Activity in the allowance for credit losses was as follows. Three Months Ended March 31, (in thousands) 2019 2018 Allowance for credit losses (roll-forward): Beginning balance $ 42,913 $ 39,116 Provision for credit losses 1,500 750 Recoveries, net of charge-offs 123 580 Ending balance $ 44,536 $ 40,446 Activity in the allowance for credit losses by loan portfolio and loan class was as follows. Three Months Ended March 31, 2019 (in thousands) Beginning Charge-offs Recoveries (Reversal of) Provision Ending Consumer loans Single family $ 8,217 $ — $ 85 $ (112 ) $ 8,190 Home equity and other 7,712 (46 ) 73 52 7,791 Total consumer loans 15,929 (46 ) 158 (60 ) 15,981 Commercial real estate loans Non-owner occupied commercial real estate 5,496 — — 680 6,176 Multifamily 5,754 — — 606 6,360 Construction/land development 9,539 — 4 108 9,651 Total commercial real estate loans 20,789 — 4 1,394 22,187 Commercial and industrial loans Owner occupied commercial real estate 3,282 — — 22 3,304 Commercial business 2,913 — 7 144 3,064 Total commercial and industrial loans 6,195 — 7 166 6,368 Total allowance for credit losses $ 42,913 $ (46 ) $ 169 $ 1,500 $ 44,536 Three Months Ended March 31, 2018 (in thousands) Beginning Charge-offs Recoveries (Reversal of) Provision Ending Consumer loans Single family $ 9,412 $ — $ 280 $ (484 ) $ 9,208 Home equity and other 7,081 (97 ) 76 (73 ) 6,987 Total consumer loans 16,493 (97 ) 356 (557 ) 16,195 Commercial real estate loans Non-owner occupied commercial real estate 4,755 — — (128 ) 4,627 Multifamily 3,895 — — 756 4,651 Construction/land development 8,677 — 171 311 9,159 Total commercial real estate loans 17,327 — 171 939 18,437 Commercial and industrial loans Owner occupied commercial real estate 2,960 — — 6 2,966 Commercial business 2,336 (1 ) 151 362 2,848 Total commercial and industrial loans 5,296 (1 ) 151 368 5,814 Total allowance for credit losses $ 39,116 $ (98 ) $ 678 $ 750 $ 40,446 The following tables disaggregate our allowance for credit losses and recorded investment in loans by impairment methodology. At March 31, 2019 (in thousands) Allowance: collectively evaluated for impairment Allowance: individually evaluated for impairment Total Loans: collectively evaluated for impairment Loans: individually evaluated for impairment Total Consumer loans Single family $ 8,110 $ 80 $ 8,190 $ 1,274,211 $ 69,523 $ 1,343,734 Home equity and other 7,752 39 7,791 584,034 1,123 585,157 Total consumer loans 15,862 119 15,981 1,858,245 70,646 1,928,891 Commercial real estate loans Non-owner occupied commercial real estate 6,176 — 6,176 780,928 11 780,939 Multifamily 6,360 — 6,360 939,168 488 939,656 Construction/land development 9,651 — 9,651 832,604 4,675 837,279 Total commercial real estate loans 22,187 — 22,187 2,552,700 5,174 2,557,874 Commercial and industrial loans Owner occupied commercial real estate 3,304 — 3,304 443,412 7,038 450,450 Commercial business 2,942 122 3,064 419,495 2,039 421,534 Total commercial and industrial loans 6,246 122 6,368 862,907 9,077 871,984 Total loans evaluated for impairment 44,295 241 44,536 5,273,852 84,897 5,358,749 Loans held for investment carried at fair value — — — — — 4,830 (1) Total loans held for investment $ 44,295 $ 241 $ 44,536 $ 5,273,852 $ 84,897 $ 5,363,579 At December 31, 2018 (in thousands) Allowance: collectively evaluated for impairment Allowance: individually evaluated for impairment Total Loans: collectively evaluated for impairment Loans: individually evaluated for impairment Total Consumer loans Single family $ 8,151 $ 66 $ 8,217 $ 1,286,556 $ 67,575 $ 1,354,131 Home equity and other 7,671 41 7,712 569,673 1,237 570,910 Total consumer loans 15,822 107 15,929 1,856,229 68,812 1,925,041 Commercial real estate loans Non-owner occupied commercial real estate 5,496 — 5,496 701,928 — 701,928 Multifamily 5,754 — 5,754 907,523 492 908,015 Construction/land development 9,539 — 9,539 793,818 726 794,544 Total commercial real estate loans 20,789 — 20,789 2,403,269 1,218 2,404,487 Commercial and industrial loans Owner occupied commercial real estate 3,282 — 3,282 427,938 1,220 429,158 Commercial business 2,787 126 2,913 329,170 1,834 331,004 Total commercial and industrial loans 6,069 126 6,195 757,108 3,054 760,162 Total loans evaluated for impairment 42,680 233 42,913 5,016,606 73,084 5,089,690 Loans held for investment carried at fair value — — — — — 4,057 (1) Total loans held for investment $ 42,680 $ 233 $ 42,913 $ 5,016,606 $ 73,084 $ 5,093,747 (1) Comprised of single family loans where a fair value option election was made at the time of origination and, therefore, are carried at fair value with changes recognized in the consolidated statements of operations. Impaired Loans Loans are classified as impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal and interest when due, in accordance with the terms of the original loan agreement, without unreasonable delay. This includes all loans classified as nonaccrual and troubled debt restructurings. Impaired loans are risk rated for internal and regulatory rating purposes, but presented separately for clarification. The following tables present impaired loans by loan portfolio segment and loan class. At March 31, 2019 (in thousands) Recorded investment (1) Unpaid principal balance (2) Related allowance With no related allowance recorded: Consumer loans Single family (3) $ 68,067 $ 68,792 $ — Home equity and other 570 596 — Total consumer loans 68,637 69,388 — Commercial real estate loans Non-owner occupied commercial real estate 11 69 — Multifamily 488 488 — Construction/land development 4,675 4,743 — Total commercial real estate loans 5,174 5,300 — Commercial and industrial loans Owner occupied commercial real estate 7,038 7,371 — Commercial business 1,551 2,295 — Total commercial and industrial loans 8,589 9,666 — $ 82,400 $ 84,354 $ — With an allowance recorded: Consumer loans Single family $ 1,456 $ 1,464 $ 80 Home equity and other 553 553 39 Total consumer loans 2,009 2,017 119 Commercial and industrial loans Commercial business 488 488 122 Total commercial and industrial loans 488 488 122 $ 2,497 $ 2,505 $ 241 Total: Consumer loans Single family (3) $ 69,523 $ 70,256 $ 80 Home equity and other 1,123 1,149 39 Total consumer loans 70,646 71,405 119 Commercial real estate loans Non-owner occupied commercial real estate 11 69 — Multifamily 488 488 — Construction/land development 4,675 4,743 — Total commercial real estate loans 5,174 5,300 — Commercial and industrial loans Owner occupied commercial real estate 7,038 7,371 — Commercial business 2,039 2,783 122 Total commercial and industrial loans 9,077 10,154 122 Total impaired loans $ 84,897 $ 86,859 $ 241 (1) Includes partial charge-offs and nonaccrual interest paid and purchase discounts and premiums. (2) Unpaid principal balance does not include partial charge-offs, purchase discounts and premiums or nonaccrual interest paid. Related allowance is calculated on net book balances not unpaid principal balances. (3) Includes $67.2 million in single family performing trouble debt restructurings ("TDRs"). At December 31, 2018 (in thousands) Recorded investment (1) Unpaid principal balance (2) Related allowance With no related allowance recorded: Consumer loans Single family (3) $ 66,725 $ 67,496 $ — Home equity and other 743 769 — Total consumer loans 67,468 68,265 — Commercial real estate loans Multifamily 492 492 — Construction/land development 726 726 — Total commercial real estate loans 1,218 1,218 — Commercial and industrial loans Owner occupied commercial real estate 1,220 1,543 — Commercial business 1,331 2,087 — Total commercial and industrial loans 2,551 3,630 — $ 71,237 $ 73,113 $ — With an allowance recorded: Consumer loans Single family $ 850 $ 850 $ 66 Home equity and other 494 494 41 Total consumer loans 1,344 1,344 107 Commercial and industrial loans Commercial business 503 503 126 Total commercial and industrial loans 503 503 126 $ 1,847 $ 1,847 $ 233 Total: Consumer loans Single family (3) $ 67,575 $ 68,346 $ 66 Home equity and other 1,237 1,263 41 Total consumer loans 68,812 69,609 107 Commercial real estate loans Multifamily 492 492 — Construction/land development 726 726 — Total commercial real estate loans 1,218 1,218 — Commercial and industrial loans Owner occupied commercial real estate 1,220 1,543 — Commercial business 1,834 2,590 126 Total commercial and industrial loans 3,054 4,133 126 Total impaired loans $ 73,084 $ 74,960 $ 233 (1) Includes partial charge-offs and nonaccrual interest paid and purchase discounts and premiums. (2) Unpaid principal balance does not include partial charge-offs, purchase discounts and premiums or nonaccrual interest paid. Related allowance is calculated on net book balances not unpaid principal balances. (3) Includes $65.8 million in single family performing TDRs. The following tables provide the average recorded investment and interest income recognized on impaired loans by portfolio segment and class. Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 (in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Consumer loans Single family $ 68,548 $ 706 $ 72,013 $ 653 Home equity and other 1,180 $ 18 1,279 19 Total consumer loans 69,728 724 73,292 672 Commercial real estate loans Non-owner occupied commercial real estate 6 — — — Multifamily 490 7 804 6 Construction/land development 2,701 — 522 5 Total commercial real estate loans 3,197 7 1,326 11 Commercial and industrial loans Owner occupied commercial real estate 4,128 93 2,921 36 Commercial business 1,937 11 2,945 37 Total commercial and industrial loans 6,065 104 5,866 73 $ 78,990 $ 835 $ 80,484 $ 756 Credit Quality Indicators Management regularly reviews loans in the portfolio to assess credit quality indicators and to determine appropriate loan classification and grading in accordance with applicable bank regulations. The Company's risk rating methodology assigns risk ratings ranging from 1 to 10, where a higher rating represents higher risk. The Company differentiates its lending portfolios into homogeneous loans and non-homogeneous loans. The 10 risk rating categories can be generally described by the following groupings for non-homogeneous loans: Pass. We have five pass risk ratings which represent a level of credit quality that ranges from no well-defined deficiency or weakness to some noted weakness. However, the risk of default on any loan classified as pass is expected to be remote. The five pass risk ratings are described below: Minimal Risk . A minimal risk loan, risk rated 1-Exceptional, is to a borrower of the highest quality. The borrower has an unquestioned ability to produce consistent profits and service all obligations and can absorb severe market disturbances with little or no difficulty. Low Risk. A low risk loan, risk rated 2-Superior, is similar in characteristics to a minimal risk loan. Balance sheet and operations are slightly more prone to fluctuations within the business cycle; however, debt capacity and debt service coverage remains strong. The borrower will have a strong demonstrated ability to produce profits and absorb market disturbances. Modest Risk. A modest risk loan, risk rated 3-Excellent, is a desirable loan with excellent sources of repayment and no currently identifiable risk associated with collection. The borrower exhibits a very strong capacity to repay the loan in accordance with the repayment agreement. The borrower may be susceptible to economic cycles, but will have cash reserves to weather these cycles. Average Risk. An average risk loan, risk rated 4-Good, is an attractive loan with sound sources of repayment and no material collection or repayment weakness evident. The borrower has an acceptable capacity to pay in accordance with the agreement. The borrower is susceptible to economic cycles and more efficient competition, but should have modest reserves sufficient to survive all but the most severe downturns or major setbacks. Acceptable Risk. An acceptable risk loan, risk rated 5-Acceptable, is a loan with lower than average, but still acceptable credit risk. These borrowers may have higher leverage, less certain but viable repayment sources, have limited financial reserves and may possess weaknesses that can be adequately mitigated through collateral, structural or credit enhancement. The borrower is susceptible to economic cycles and is less resilient to negative market forces or financial events. Reserves may be insufficient to survive a modest downturn. Watch. A watch loan, risk rated 6-Watch, is still pass-rated, but represents the lowest level of acceptable risk due to an emerging risk element or declining performance trend. Watch ratings are expected to be temporary, with issues resolved or manifested to the extent that a higher or lower rating would be appropriate. The borrower should have a plausible plan, with reasonable certainty of success, to correct the problems in a short period of time. Borrowers rated watch are characterized by elements of uncertainty, such as: • The borrower may be experiencing declining operating trends, strained cash flows or less-than anticipated financial performance. Cash flow should still be adequate to cover debt service, and the negative trends should be identified as being of a short-term or temporary nature. • The borrower may have experienced a minor, unexpected covenant violation. • The borrower may be experiencing tight working capital or have a cash cushion deficiency. • A loan may also be a watch if financial information is late, there is a documentation deficiency, the borrower has experienced unexpected management turnover, or if it faces industry issues that, when combined with performance factors create uncertainty in its future ability to perform. • Delinquent payments, increasing and material overdraft activity, request for bulge and/or out-of-formula advances may be an indicator of inadequate working capital and may suggest a lower rating. • Failure of the intended repayment source to materialize as expected, or renewal of a loan (other than cash/marketable security secured or lines of credit) without reduction are possible indicators of a watch or worse risk rating. Special Mention. A special mention loan, risk rated 7-Special Mention, has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loans or the institution's credit position at some future date. Loans in this category contain unfavorable characteristics and are generally undesirable. They are currently protected but are potentially weak and constitute an undue and unwarranted credit risk, but not to the point of a substandard classification. A special mention loan has potential weaknesses, which if not checked or corrected, weaken the loan or inadequately protect the Company's position at some future date. Such weaknesses include: • Performance is poor or significantly less than expected. There may be a temporary debt-servicing deficiency or inadequate working capital as evidenced by a cash cushion deficiency, but not to the extent that repayment is compromised. Material violation of financial covenants is common. • Loans with unresolved material issues that significantly cloud the debt service outlook, even though a debt servicing deficiency does not currently exist. • Modest underperformance or deviation from plan for real estate loans where absorption of rental/sales units is necessary to properly service the debt as structured. Depth of support for interest carry provided by owner/guarantors may mitigate and provide for improved rating. • This rating may be assigned when a loan officer is unable to supervise the credit properly, or when there is an inadequate loan agreement, an inability to control collateral, failure to obtain proper documentation, or any other deviation from prudent lending practices. • Unlike a substandard credit, there should be a reasonable expectation that these temporary issues will be corrected within the normal course of business, rather than through liquidation of assets, and in a reasonable period of time. Substandard. A substandard loan, risk rated 8-Substandard, is inadequately protected by the current sound worth and paying capacity of the borrower or of the collateral pledged, if any. Loans so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the loan. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Loss potential, while existing in the aggregate amount of substandard loans, does not have to exist in individual loans classified substandard. Loans are classified as substandard when they have unsatisfactory characteristics causing unacceptable levels of risk. A substandard loan normally has one or more well-defined weaknesses that could jeopardize repayment of the loan. The likely need to liquidate assets to correct the problem, rather than repayment from successful operations, is the key distinction between special mention and substandard. The following are examples of well-defined weaknesses: • Cash flow deficiencies or trends are of a magnitude to jeopardize current and future payments with no immediate relief. A loss is not presently expected, however the outlook is sufficiently uncertain to preclude ruling out the possibility. • The borrower has been unable to adjust to prolonged and unfavorable industry or economic trends. • Material underperformance or deviation from plan for real estate loans where absorption of rental/sales units is necessary to properly service the debt and risk is not mitigated by willingness and capacity of owner/guarantor to support interest payments. • Management character or honesty has become suspect. This includes instances where the borrower has become uncooperative. • Due to unprofitable or unsuccessful business operations, some form of restructuring of the business, including liquidation of assets, has become the primary source of loan repayment. Cash flow has deteriorated, or been diverted, to the point that sale of collateral is now the Company's primary source of repayment (unless this was the original source of repayment). If the collateral is under the Company's control and is cash or other liquid, highly marketable securities and properly margined, then a more appropriate rating might be special mention or watch. • The borrower is involved in bankruptcy proceedings where collateral liquidation values are expected to fully protect the Company against loss. • There is material, uncorrectable faulty documentation or materially suspect financial information. Doubtful. Loans classified as doubtful, risk rated 9-Doubtful, have all the weaknesses inherent in one classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. The possibility of loss is extremely high, but because of certain important and reasonably specific pending factors, which may work towards strengthening the loan, classification as a loss (and immediate charge-off) is deferred until more exact status may be determined. Pending factors include proposed merger, acquisition, liquidation procedures, capital injection, and perfection of liens on additional collateral and refinancing plans. In certain circumstances, a doubtful rating will be temporary, while the Company is awaiting an updated collateral valuation. In these cases, once the collateral is valued and appropriate margin applied, the remaining uncollateralized portion will be charged-off. The remaining balance, properly margined, may then be upgraded to substandard, however must remain on non-accrual. Loss. Loans classified as loss, risk rated 10-Loss, are considered uncollectible and of such little value that the continuance as an active Company asset is not warranted. This rating does not mean that the loan has no recovery or salvage value, but rather that the loan should be charged-off now, even though partial or full recovery may be possible in the future. Homogeneous loans maintain their original risk rating until they are greater than 30 days past due, and risk rating reclassification is based primarily on the past due status of the loan. The risk rating categories can be generally described by the following groupings for commercial and commercial real estate homogeneous loans: Watch. A homogeneous watch loan, risk rated 6, is 60-89 days past due from the required payment date at month-end. Special Mention. A homogeneous special mention loan, risk rated 7, is less than 90 days past due from the required payment date at month-end. S ubstandard. A homogeneous substandard loan, risk rated 8, is more than 90 days or more past due from the required payment date at month-end. Loss. A homogeneous loss loan, risk rated 10, is 120 days or more past due from the required payment date for non-real estate secured closed-end loans or 180 days or more past due from the required payment date for open-end loans and all loans secured by real estate. These loans are generally charged off in the month in which the applicable time period elapses. The risk rating categories can be generally described by the following groupings for residential and home equity and other homogeneous loans: Watch. A homogeneous retail watch loan, risk rated 6, is 60-89 days past due from the required payment date at month-end. Substandard. A homogeneous retail substandard loan, risk rated 8, is 90-180 days past due from the required payment date at month-end. Loss. A homogeneous retail loss loan, risk rated 10, is past due 180 cumulative days or more from the contractual due date. These loans are generally charged-off in the month in which the 180 day period elapses. Residential and home equity loans modified in a troubled debt restructure are not considered homogeneous. The risk rating classification for such loans are based on the non-homogeneous definitions noted above. The following tables summarize designated loan grades by loan portfolio segment and loan class. At March 31, 2019 (in thousands) Pass Watch Special mention Substandard Total Consumer loans Single family $ 1,328,432 (1) $ 3,874 $ 8,365 $ 7,883 $ 1,348,554 Home equity and other 583,569 92 539 967 585,167 Total consumer loans 1,912,001 3,966 8,904 8,850 1,933,721 Commercial real estate loans Non-owner occupied commercial real estate 774,673 2,416 3,839 11 780,939 Multifamily 936,046 3,610 — — 939,656 Construction/land development 807,532 24,645 356 4,746 837,279 Total commercial real estate loans 2,518,251 30,671 4,195 4,757 2,557,874 Commercial and industrial loans Owner occupied commercial real estate 410,459 26,178 5,897 7,916 450,450 Commercial business 385,917 18,999 14,645 1,973 421,534 Total commercial and industrial loans 796,376 45,177 20,542 9,889 871,984 $ 5,226,628 $ 79,814 $ 33,641 $ 23,496 $ 5,363,579 (1) Includes $4.8 million of loans where a fair value option election was made at the time of origination and, therefore, are carried at fair value with changes recognized in the consolidated statements of operations. At December 31, 2018 (in thousands) Pass Watch Special mention Substandard Total Consumer loans Single family $ 1,338,025 (1) $ 2,882 $ 8,775 $ 8,493 $ 1,358,175 Home equity and other 569,370 95 510 948 570,923 Total consumer loans 1,907,395 2,977 9,285 9,441 1,929,098 Commercial real estate loans Non-owner occupied commercial real estate 695,077 1,426 5,425 — 701,928 Multifamily 903,897 3,626 492 — 908,015 Construction/land development 767,113 21,531 1,084 4,816 794,544 Total commercial real estate loans 2,366,087 26,583 7,001 4,816 2,404,487 Commercial and industrial loans Owner occupied commercial real estate 392,273 22,928 11,087 2,870 429,158 Commercial business 299,225 14,331 15,427 2,021 331,004 Total commercial and industrial loans 691,498 37,259 26,514 4,891 760,162 $ 4,964,980 $ 66,819 $ 42,800 $ 19,148 $ 5,093,747 (1) Includes $4.1 million of loans where a fair value option election was made at the time of origination and, therefore, are carried at fair value with changes recognized in the consolidated statements of operations. As of March 31, 2019 and December 31, 2018 , none of the Company's loans were rated Doubtful or Loss. For a detailed discussion on credit quality, see Note 5, Loans and Credit Quality , within our 2018 Annual Report on Form 10-K. Nonaccrual and Past Due Loans Loans are placed on nonaccrual status when the full and timely collection of principal and interest is doubtful, generally when the loan becomes 90 days or more past due for principal or interest payment or if part of the principal balance has been charged off. Loans whose repayments are insured by the Federal Housing Administration ("FHA") or guaranteed by the Veterans Administration ("VA") are generally maintained on accrual status even if 90 days or more past due. The following tables present an aging analysis of past due loans by loan portfolio segment and loan class. At March 31, 2019 (in thousands) 30-59 days past due 60-89 days past due 90 days or more past due Total past due Current Total loans 90 days or more past due and accruing Consumer loans Single family $ 5,872 $ 5,416 $ 37,155 $ 48,443 $ 1,300,111 (1) $ 1,348,554 $ 29,273 (2) Home equity and other 654 97 967 1,718 583,449 585,167 — Total consumer loans 6,526 5,513 38,122 50,161 1,883,560 1,933,721 29,273 Commercial real estate loans Non-owner occupied commercial real estate — — 11 11 780,928 780,939 — Multifamily 144 — — 144 939,512 939,656 — Construction/land development — — 4,746 4,746 832,533 837,279 — Total commercial real estate loans 144 — 4,757 4,901 2,552,973 2,557,874 — Commercial and industrial loans Owner occupied commercial real estate — 2,038 364 2,402 448,048 450,450 — Commercial business — — 1,904 1,904 419,630 421,534 — Total commercial and industrial loans — 2,038 2,268 4,306 867,678 871,984 — $ 6,670 $ 7,551 $ 45,147 $ 59,368 $ 5,304,211 $ 5,363,579 $ 29,273 At December 31, 2018 (in thousands) 30-59 days 60-89 days 90 days or Total past Current Total 90 days or Consumer loans Single family $ 9,725 $ 3,653 $ 47,609 $ 60,987 $ 1,297,188 (1) $ 1,358,175 $ 39,116 (2) Home equity and other 145 100 948 1,193 569,730 570,923 — Total consumer loans 9,870 3,753 48,557 62,180 1,866,918 1,929,098 39,116 Commercial real estate loans Non-owner occupied commercial real estate — — — — 701,928 701,928 — Multifamily — — — — 908,015 908,015 — Construction/land development — — 72 72 794,472 794,544 — Total commercial real estate loans — — 72 72 2,404,415 2,404,487 — Commercial and industrial loans Owner occupied commercial real estate — — 374 374 428,784 429,158 — Commercial business — — 1,732 1,732 329,272 331,004 — Total commercial and industrial loans — — 2,106 2,106 758,056 760,162 — $ 9,870 $ 3,753 $ 50,735 $ 64,358 $ 5,029,389 $ 5,093,747 $ 39,116 (1) Includes $4.8 million and $4.1 million of loans at March 31, 2019 and December 31, 2018 , respectively, where a fair value option election was made at the time of origination and, therefore, are carried at fair value with changes recognized in our consolidated statements of operations. (2) FHA-insured and VA-guaranteed single family loans that are 90 days or more past due are maintained on accrual status if they are determined to have little to no risk of loss. The following tables present performing and nonperforming loan balances by loan portfolio segment and loan class. At March 31, 2019 (in thousands) Accrual Nonaccrual Total Consumer loans Single family (1) $ 1,340,672 $ 7,882 $ 1,348,554 Home equity and other 584,200 967 585,167 Total consumer loans 1,924,872 8,849 1,933,721 Commercial real estate loans Non-owner occupied commercial real estate 780,928 11 780,939 |
