Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 5. Loans Most of the Company’s business activities are with clients located in the high-density Asian-populated areas of Southern and Northern California; New York City, New York; Houston and Dallas, Texas; Seattle, Washington; Boston, Massachusetts; Chicago, Illinois; Edison, New Jersey; Rockville, Maryland; and Las Vegas, Nevada. The Company also has loan clients in Hong Kong. The Company has no The following table presents the composition of the Company’s loans as of December 31, 2022, 2021, As of December 31, 2022 2021 (In thousands) Loans: Commercial loans $ 3,318,778 $ 2,982,399 Real estate construction loans 559,372 611,031 Commercial mortgage loans 8,793,685 8,143,272 Residential mortgage loans 5,252,952 4,182,006 Equity lines 324,548 419,487 Installment and other loans 4,689 4,284 Gross loans 18,254,024 16,342,479 Less: Allowance for loan losses (146,485 ) (136,157 ) Unamortized deferred loan fees (6,641 ) (4,321 ) Total loans, net $ 18,100,898 $ 16,202,001 The Company pledged real estate loans of $13.07 billion as of December 31, 2022, December 31, 2021, December 31, 2022, December 31, 2021, Loans serviced for others as of December 31, 2022, December 31, 2021, The Company has entered into transactions with its directors, executive officers, or principal holders of its equity securities, or the associates of such persons (“Related Parties”). All loans to Related Parties were current as of December 31, 2022 2021. December 31, 2022 2021 (In thousands) Balance at beginning of year $ 38,532 $ 51,288 Additional loans made 25,050 29,182 Payment received (30,365 ) (41,938 ) Balance at end of year $ 33,217 $ 38,532 As of December 31, 2022, December 31, 2021, December 31, 2022 2021, December 31, 2022, 2021 2020. December 31, 2022 December 31, 2021. The following tables present the average balance and interest income recognized on non-accrual loans for the periods indicated: For the year ended December 31, 2022 Average Recorded Investment Interest Income Recognized (In thousands) Commercial loans $ 28,109 $ 4 Commercial mortgage loans 28,983 405 Residential mortgage and equity lines 14,251 26 Installment and other loans 28 — Total $ 71,371 $ 435 For the year ended December 31, 2021 Average Recorded Investment Interest Income Recognized (In thousands) Commercial loans $ 21,453 $ — Real estate construction loans 3,805 — Commercial mortgage loans 38,047 1,044 Residential mortgage and equity lines 9,435 30 Total $ 72,740 $ 1,074 The following table presents non-accrual loans and the related allowance as of December 31, 2022 2021: As of December 31, 2022 Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance: Commercial loans $ 27,341 $ 12,949 $ — Commercial mortgage loans 37,697 32,205 — Residential mortgage and equity lines 9,626 8,978 — Installment and other loans 9 8 — Subtotal $ 74,673 $ 54,140 $ — With allocated allowance: Commercial loans $ 14,643 $ 12,823 $ 3,734 Commercial mortgage loans 1,896 1,891 207 Residential mortgage and equity lines — — — Subtotal $ 16,539 $ 14,714 $ 3,941 Total non-accrual loans $ 91,212 $ 68,854 $ 3,941 As of December 31, 2021 Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance: Commercial loans $ 15,879 $ 11,342 $ — Commercial mortgage loans 24,437 21,209 — Residential mortgage and equity lines 6,020 5,850 — Subtotal $ 46,336 $ 38,401 $ — With allocated allowance: Commercial loans $ 14,294 $ 5,217 $ 894 Commercial mortgage loans 17,930 16,964 3,631 Residential mortgage and equity lines 6,048 5,264 22 Subtotal $ 38,272 $ 27,445 $ 4,547 Total non-accrual loans $ 84,608 $ 65,846 $ 4,547 The following table is a summary of non-accrual loans as of December 31, 2022, 2021, 2020 As of December 31, 2022 2021 2020 (In thousands) Non-accrual portfolio loans $ 68,854 $ 65,846 $ 67,684 Contractual interest due 4,620 4,032 3,093 Interest recognized 435 1,074 1,008 Net interest foregone $ 4,185 $ 2,958 $ 2,085 The following tables present the aging of the loan portfolio by type as of December 31, 2022, December 31, 2021: As of December 31, 2022 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Non-accrual Loans Total Past Due Loans Not Past Due Total Type of Loans: (In thousands) Commercial loans $ 8,192 $ 3,235 $ 10,208 $ 25,772 $ 47,407 $ 3,271,371 $ 3,318,778 Real estate construction loans — — — — — 559,372 559,372 Commercial mortgage loans 25,772 — 1,372 34,096 61,240 8,732,445 8,793,685 Residential mortgage loans and equity lines 47,043 5,685 — 8,978 61,706 5,515,794 5,577,500 Installment and other loans 5 1 — 8 14 4,675 4,689 Total loans $ 81,012 $ 8,921 $ 11,580 $ 68,854 $ 170,367 $ 18,083,657 $ 18,254,024 As of December 31, 2021 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Non-accrual Loans Total Past Due Loans Not Past Due Total Type of Loans: (In thousands) Commercial loans $ 4,294 $ 9,877 $ 1,439 $ 16,558 $ 32,168 $ 2,950,231 $ 2,982,399 Real estate construction loans — — — — — 611,031 611,031 Commercial mortgage loans 8,389 — — 38,173 46,562 8,096,710 8,143,272 Residential mortgage loans 20,129 3,138 — 11,115 34,382 4,567,111 4,601,493 Installment and other loans — — — — — 4,284 4,284 Total loans $ 32,812 $ 13,015 $ 1,439 $ 65,846 $ 113,112 $ 16,229,367 $ 16,342,479 A TDR is a formal modification of the terms of a loan when the lender, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower. The concessions may six The allowance for credit loss on a TDR is measured using the same method as all other loans held for investment, except when the value of a concession cannot be measured using a method other than the discounted cash flow method. When the value of a concession is measured using the discounted cash flow method, the allowance for credit loss is determined by discounting the expected future cash flows at the original interest rate of the loan. The Company establishes a specific reserve for individually evaluated loans that do not Although the Company took steps to incorporate the impact of the COVID- 19 As of December 31, 2022, December 31, 2021. December 31, 2022, seven thousand three thousand December 31, 2021. 2022, December 31, 2022, 2022: Loans Modified as TDRs During the Year Ended December 31, 2022 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific Reserve (1) Charge-offs (Dollars in thousands) Commercial loans 4 $ 6,115 $ 6,115 $ 427 $ — Commercial mortgage loans 3 3,676 3,669 — — Residential mortgage and equity lines 8 2,189 2,162 — — Total 15 $ 11,980 $ 11,946 $ 427 $ — ( 1 The following table presents TDRs that were modified during 2021, December 31, 2021, 2021: Loans Modified as TDRs During the Year Ended December 31, 2021 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific Reserve Charge-offs (Dollars in thousands) Commercial loans 3 $ 2,150 $ 2,150 $ — $ — Residential mortgage and equity lines 2 3 3 — — Total 5 $ 2,153 $ 2,153 $ — $ — The following table presents TDRs that were modified during 2020, December 31, 2020, 2020: Loans Modified as TDRs During the Year Ended December 31, 2020 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Specific Reserve Charge-off (Dollars in thousands) Commercial loans 5 $ 5,417 $ 5,417 $ — $ — Total 5 $ 5,417 $ 5,417 $ — $ — A summary of TDRs by type of concession and by type of loans as of December 31, 2022, December 31, 2021, December 31, 2022 Accruing TDRs Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Commercial loans $ 2,588 $ — $ — $ 2,588 Commercial mortgage loans 2,791 — 5,855 8,646 Residential mortgage loans 2,181 445 1,285 3,911 Total accruing TDRs $ 7,560 $ 445 $ 7,140 $ 15,145 December 31, 2022 Non-accrual TDRs Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Commercial loans $ 3,629 $ — $ — $ 3,629 Commercial mortgage loans 1,098 — — 1,098 Residential mortgage loans 1,621 — — 1,621 Total non-accrual TDRs $ 6,348 $ — $ — $ 6,348 December 31, 2021 Accruing TDRs Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Commercial loans $ 3,368 $ — $ — $ 3,368 Commercial mortgage loans 438 5,522 168 6,128 Residential mortgage loans 1,464 249 1,628 3,341 Total accruing TDRs $ 5,270 $ 5,771 $ 1,796 $ 12,837 December 31, 2021 Non-accrual TDRs Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Commercial loans $ 7,717 $ — $ — $ 7,717 Residential mortgage loans 458 — — 458 Total non-accrual TDRs $ 8,175 $ — $ — $ 8,175 Modifications of the loan terms in the twelve December 31, 2022, three twelve We expect that the TDRs on accruing status as of December 31, 2022, The Company considers a loan to be in payment default once it is 60 to 90 days contractually past due under the modified terms. The Company did not twelve December 31, 2022. Under the Company’s internal underwriting policy, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification in order to determine whether a borrower is experiencing financial difficulty. As of December 31, 2022, no The CARES Act, signed into law on March 27, 2020, 2021, 19 March 1, 2020 January 1, 2022 not 30 December 31, 2019. 19 19 As part of the on-going monitoring of the credit quality of our loan portfolio, the Company utilizes a risk grading matrix to assign a risk rating to each loan. Loans are risk rated based on analysis of the current state of the borrower’s credit quality. The analysis of credit quality includes a review of sources of repayment, the borrower’s current financial and liquidity status and other relevant information. The risk rating categories can be generally described by the following grouping for non-homogeneous loans: ● Pass/Watch ● Special Mention not may ● Substandard may not not ● Doubtful may ● Loss no The following table summarizes the Company’s loan held for investment as of December 31, 2022 2021, Loans Amortized Cost Basis by Origination Year December 31, 2022 2022 2021 2020 2019 2018 Prior Revolving Loans Revolving Converted to Term Loans Total (In thousands) Commercial loans Pass/Watch $ 488,748 $ 446,647 $ 180,226 $ 119,355 $ 107,896 $ 106,649 $ 1,753,509 $ 6,560 $ 3,209,590 Special Mention 1,212 4,696 2,818 68 308 4,354 41,110 — 54,566 Substandard 25 12,750 342 4,859 2,766 6,985 22,084 133 49,944 Doubtful — — — 1,504 2,185 — 234 — 3,923 Total $ 489,985 $ 464,093 $ 183,386 $ 125,786 $ 113,155 $ 117,988 $ 1,816,937 $ 6,693 $ 3,318,023 YTD period charge-offs $ 96 $ 587 $ 120 $ 71 $ 1,786 $ 360 $ 202 $ — $ 3,222 YTD period recoveries (8 ) — (39 ) — (254 ) (335 ) (1,829 ) — (2,465 ) Net $ 88 $ 587 $ 81 $ 71 $ 1,532 $ 25 $ (1,627 ) $ — $ 757 Real estate construction loans Pass/Watch $ 99,798 $ 264,197 $ 113,312 $ 20,479 $ 3,067 $ — $ — $ — $ 500,853 Special Mention — 360 9,449 11,643 22,945 — — — 44,397 Substandard — — — 1,736 9,309 — — — 11,045 Total $ 99,798 $ 264,557 $ 122,761 $ 33,858 $ 35,321 $ — $ — $ — $ 556,295 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — (6 ) — — (6 ) Net $ — $ — $ — $ — $ — $ (6 ) $ — $ — $ (6 ) Commercial mortgage loans Pass/Watch $ 2,087,650 $ 1,728,607 $ 975,953 $ 1,094,505 $ 908,748 $ 1,420,982 $ 178,116 $ — $ 8,394,561 Special Mention 22,150 57,015 25,593 32,119 17,999 63,782 1,600 — 220,258 Substandard 12,320 7,861 14,392 19,972 34,899 81,844 2,631 — 173,919 Total $ 2,122,120 $ 1,793,483 $ 1,015,938 $ 1,146,596 $ 961,646 $ 1,566,608 $ 182,347 $ — $ 8,788,738 YTD period charge-offs $ — $ — $ — $ — $ 2,091 $ — $ — $ — $ 2,091 YTD period recoveries — — — (240 ) — (7 ) (111 ) — (358 ) Net $ — $ — $ — $ (240 ) $ 2,091 $ (7 ) $ (111 ) $ — $ 1,733 Residential mortgage loans Pass/Watch $ 1,228,391 $ 964,799 $ 580,990 $ 600,786 $ 417,565 $ 1,444,320 $ — $ — $ 5,236,851 Special Mention — — 33 — 752 905 — — 1,690 Substandard 206 762 2,028 1,966 1,799 8,785 — — 15,546 Total $ 1,228,597 $ 965,561 $ 583,051 $ 602,752 $ 420,116 $ 1,454,010 $ — $ — $ 5,254,087 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — (45 ) — — (45 ) Net $ — $ — $ — $ — $ — $ (45 ) $ — $ — $ (45 ) Equity lines Pass/Watch $ 731 $ — $ — $ — $ — $ — $ 302,825 $ 21,460 $ 325,016 Special Mention 5 — — — — — — — 5 Substandard 12 — — — — — 1,043 220 1,275 Total $ 748 $ — $ — $ — $ — $ — $ 303,868 $ 21,680 $ 326,296 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — — (11 ) (16 ) (27 ) Net $ — $ — $ — $ — $ — $ — $ (11 ) $ (16 ) $ (27 ) Installment and other loans Pass/Watch $ 1,792 $ 2,152 $ — $ — $ — $ — $ — $ — $ 3,944 Total $ 1,792 $ 2,152 $ — $ — $ — $ — $ — $ — $ 3,944 YTD period charge-offs $ 115 $ — $ — $ — $ — $ — $ 62 $ — $ 177 YTD period recoveries (2 ) — — — — — (2 ) — (4 ) Net $ 113 $ — $ — $ — $ — $ — $ 60 $ — $ 173 Total loans $ 3,943,040 $ 3,489,846 $ 1,905,136 $ 1,908,992 $ 1,530,238 $ 3,138,606 $ 2,303,152 $ 28,373 $ 18,247,383 Net charge-offs/(recoveries) $ 201 $ 587 $ 81 $ (169 ) $ 3,623 $ (33 ) $ (1,689 ) $ (16 ) $ 2,585 Loans Amortized Cost Basis by Origination Year December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Revolving Converted to Term Loans Total (In thousands) Commercial loans Pass/Watch $ 606,770 $ 268,756 $ 183,468 $ 142,419 $ 80,701 $ 100,496 $ 1,437,463 $ 7,433 $ 2,827,506 Special Mention 395 780 1,138 1,645 3,157 — 40,761 49 47,925 Substandard 450 5,879 22,513 16,423 14,309 5,221 34,713 5,716 105,224 Doubtful — — — — — — 900 — 900 Total $ 607,615 $ 275,415 $ 207,119 $ 160,487 $ 98,167 $ 105,717 $ 1,513,837 $ 13,198 $ 2,981,555 YTD period charge-offs $ — $ 1,478 $ 507 $ 366 $ — $ 50 $ 17,650 $ — $ 20,051 YTD period recoveries — (1 ) (29 ) (124 ) — (191 ) (1,361 ) — (1,706 ) Net $ — $ 1,477 $ 478 $ 242 $ — $ (141 ) $ 16,289 $ — $ 18,345 Real estate construction loans Pass/Watch $ 199,188 $ 188,782 $ 125,316 $ 24,548 $ — $ — $ — $ — $ 537,834 Special Mention — 23,107 27,672 17,374 — — — — 68,153 Substandard — — 1,919 — — — — — 1,919 Total $ 199,188 $ 211,889 $ 154,907 $ 41,922 $ — $ — $ — $ — $ 607,906 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — (76 ) — — (76 ) Net $ — $ — $ — $ — $ — $ (76 ) $ — $ — $ (76 ) Commercial mortgage loans Pass/Watch $ 1,893,807 $ 1,201,825 $ 1,253,548 $ 1,031,191 $ 727,916 $ 1,313,882 $ 198,869 $ — $ 7,621,038 Special Mention 45,719 59,182 49,796 103,101 61,105 60,448 750 — 380,101 Substandard 1,110 — 13,483 42,803 1,580 76,906 3,297 — 139,179 Total $ 1,940,636 $ 1,261,007 $ 1,316,827 $ 1,177,095 $ 790,601 $ 1,451,236 $ 202,916 $ — $ 8,140,318 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — (240 ) — — (28 ) (111 ) — (379 ) Net $ — $ — $ (240 ) $ — $ — $ (28 ) $ (111 ) $ — $ (379 ) Residential mortgage loans Pass/Watch $ 978,375 $ 622,999 $ 678,775 $ 502,325 $ 453,992 $ 929,846 $ — $ — $ 4,166,312 Special Mention — 46 1,576 1,064 836 438 — — 3,960 Substandard 1,684 147 2,698 2,574 862 5,255 — — 13,220 Total $ 980,059 $ 623,192 $ 683,049 $ 505,963 $ 455,690 $ 935,539 $ — $ — $ 4,183,492 YTD period charge-offs $ — $ — $ — $ — $ 3 $ — $ — $ — $ 3 YTD period recoveries — — — — — (208 ) — — (208 ) Net $ — $ — $ — $ — $ 3 $ (208 ) $ — $ — $ (205 ) Equity lines Pass/Watch $ — $ — $ — $ — $ — $ 5 $ 389,069 $ 30,025 $ 419,099 Substandard — — — — — — 1,230 273 1,503 Total $ — $ — $ — $ — $ — $ 5 $ 390,299 $ 30,298 $ 420,602 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — — (10 ) (64 ) (74 ) Net $ — $ — $ — $ — $ — $ — $ (10 ) $ (64 ) $ (74 ) Installment and other loans Pass/Watch $ 4,117 $ 168 $ — $ — $ — $ — $ — $ — $ 4,285 Total $ 4,117 $ 168 $ — $ — $ — $ — $ — $ — $ 4,285 YTD period charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — YTD period recoveries — — — — — — — — — Net $ — $ — $ — $ — $ — $ — $ — $ — $ — Total loans $ 3,731,615 $ 2,371,671 $ 2,361,902 $ 1,885,467 $ 1,344,458 $ 2,492,497 $ 2,107,052 $ 43,496 $ 16,338,158 Net charge-offs/(recoveries) $ — $ 1,477 $ 238 $ 242 $ 3 $ (453 ) $ 16,168 $ (64 ) $ 17,611 Revolving loans that are converted to term loans presented in the table above are excluded from the term loans by vintage year columns. The following table details activity in the allowance for loan losses by portfolio segment for the years ended December 31, 2022, 2021. one not Real Estate Commercial Residential Installment Commercial Construction Mortgage Mortgage and Other Loans Loans Loans and Equity Lines Loans Total (In thousands) 2021 Beginning Balance $ 68,742 $ 30,854 $ 49,205 $ 17,737 $ — $ 166,538 Impact of ASU 2016-13 adoption $ (31,466 ) $ (24,307 ) $ 34,993 $ 19,211 $ 9 $ (1,560 ) Allowance for loan losses, January 1, 2021 $ 37,276 $ 6,547 $ 84,198 $ 36,948 $ 9 $ 164,978 Provision/(reversal) for loan losses 24,463 (321 ) (23,401 ) (11,943 ) (8 ) (11,210 ) Charge-offs (20,051 ) — — (3 ) — (20,054 ) Recoveries 1,706 76 284 377 — 2,443 Net (Charge-offs)/Recoveries $ (18,345 ) $ 76 $ 284 $ 374 $ — $ (17,611 ) 2021 Ending Balance $ 43,394 $ 6,302 $ 61,081 $ 25,379 $ 1 $ 136,157 Provision/(reversal) for loan losses 6,798 4,109 9,018 (7,219 ) 207 12,913 Charge-offs (3,222 ) — (2,091 ) — (177 ) (5,490 ) Recoveries 2,465 6 358 72 4 2,905 Net (Charge-offs)/Recoveries $ (757 ) $ 6 $ (1,733 ) $ 72 $ (173 ) $ (2,585 ) 2022 Ending Balance $ 49,435 $ 10,417 $ 68,366 $ 18,232 $ 35 $ 146,485 Allowance for unfunded credit commitments, January 1, 2021 $ 8,038 $ 3,825 $ 35 $ — $ — $ 11,898 Provision/(reversal) for possible credit losses (4,313 ) (450 ) (35 ) — — (4,798 ) Allowance for unfunded credit commitments 2021 Ending Balance $ 3,725 $ 3,375 $ — $ — $ — $ 7,100 Provision/(reversal) for possible credit losses 1,115 515 — — — 1,630 Allowance for unfunded credit commitments 2022 Ending Balance $ 4,840 $ 3,890 $ — $ — $ — $ 8,730 Residential mortgage loans in process of formal foreclosure proceedings were $456 thousand as of December 31, 2022, December 31, 2021. |