v3.25.3
Loans and Leases (Tables)
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Schedule of Components
The composition of our loan portfolio for the periods indicated was as follows:

September 30, 2025December 31, 2024

AmountPercent of
Loans
Held for
Investment		AmountPercent of
Loans
Held for
Investment
Loans and leases held for investment:
Multi-family$30,466 48.7 %$34,093 49.9 %
Commercial real estate(1)
10,163 16.2 %11,836 17.4 %
One-to-four family first mortgage5,513 8.8 %5,201 7.6 %
Commercial and industrial(2)
14,874 23.7 %15,376 22.5 %
Other1,645 2.6 %1,766 2.6 %
Total loans and leases held for investment (3)(4)
$62,661 100.0 %$68,272 100.0 %
Allowance for credit losses on loans and leases(1,071)(1,201)
Total loans and leases held for investment, net$61,590 $67,071 
Loans held for sale
535 899 
Total loans and leases, net$62,125 $67,970 
(1)Includes ADC loans.
(2)Includes lease financing receivables (net of unearned income of $137 million and $169 million) of $1.8 billion and $2.1 billion, respectively.
(3)Excludes accrued interest receivable of $260 million and $277 million at September 30, 2025 and December 31, 2024, respectively, which is included in Other assets in the Condensed Consolidated Statements of Condition.
(4)We pledged loans of $32.3 billion and $44.6 billion between the FHLB and FRB-NY to serve as collateral for our wholesale borrowings at September 30, 2025 and December 31, 2024, respectively.
Schedule of Collateral
The following table summarizes the recorded investment of our collateral-dependent loans held for investment by collateral type as of September 30, 2025:


Real Property
Multi-family$2,435 
Commercial real estate(1)
545 
One-to-four family first mortgage59 
Commercial and industrial16 
Total collateral-dependent loans held for investment$3,055 
(1)Includes ADC loans.
Schedule of Quality of Loans Held for Investment
The following table presents information regarding the delinquency status of our loans held for investment at September 30, 2025:

Current
Loans 30-89 Days Past Due
Non-Accrual Loans
Total Loans Receivable
Multi-family$27,682 $344 $2,440 $30,466 
Commercial real estate(1)
9,495 117 551 10,163 
One-to-four family first mortgage5,424 19 70 5,513 
Commercial and industrial(2)
14,686 34 154 14,874 
Other1,598 21 26 1,645 
Total$58,885 $535 $3,241 $62,661 
(1)Includes ADC loans.
(2)Includes lease financing receivables.
The following table presents information regarding the delinquency status of our loans held for investment at December 31, 2024:


Current
Loans 30-89 Days Past DueNon-Accrual Loans
Total Loans Receivable
Multi-family$31,589 $749 $1,755 $34,093 
Commercial real estate(1)
11,202 70 564 11,836 
One-to-four family first mortgage5,106 25 70 5,201 
Commercial and industrial(2)
15,064 110 202 15,376 
Other1,731 11 24 1,766 
Total$64,692 $965 $2,615 $68,272 
(1)Includes ADC loans.
(2)Includes lease financing receivables.
Schedule of Loans Held for Investment by Credit Quality Indicator
The following table presents the credit rating by vintage for our loans held for investment as of September 30, 2025:

Term Loans
Revolving
Loans		Revolving
Loans Converted to Term Loans
Amortized Cost Basis by Closing Year

2025
2024
2023
2022
2021
Prior To
2021
Total
Multi-family:
Pass$16 $15 $578 $6,362 $5,313 $8,587 $4 $132 $21,007 
Special Mention— — 24 480 923 718 — — 2,145 
Substandard— — 140 599 1,001 3,132 2 — 4,874 
Non-accrual
— — 12 315 355 1,758 — — 2,440 
Total Multi-family
16 15 754 7,756 7,592 14,195 6 132 30,466 
Year to date gross charge-offs
— — — (45)(59)(134)— — (238)
Commercial Real Estate:(1)
Pass$600 $420 $1,126 $1,490 $963 $2,378 $1,050 $155 $8,182 
Special Mention— — 55 59 18 99 42 24 297 
Substandard— 10 62 155 82 552 167 105 1,133 
Non-accrual
— — 3 74 15 455 2 2 551 
Total Commercial Real Estate
600 430 1,246 1,778 1,078 3,484 1,261 286 10,163 
Year to date gross charge-offs
— — (6)(1)(7)(27)— — (41)
One-to-Four Family
Pass$635 $348 $475 $2,248 $815 $644 $76 $4 $5,245 
Substandard19 7 2 14 6 150 — — 198 
Non-accrual3 7 5 21 10 22 2 — 70 
Total One-to-Four Family657 362 482 2,283 831 816 78 4 5,513 
Year to date gross charge-offs
— — — (1)— (2)— — (3)
Commercial and Industrial(2)
Pass$2,069 $972 $2,164 $1,812 $614 $939 $5,307 $298 $14,175 
Special Mention— 14 10 14 7 2 80 — 127 
Substandard2 16 89 49 33 36 189 4 418 
Non-accrual— 4 29 42 6 14 48 11 154 
Total Commercial and Industrial2,071 1,006 2,292 1,917 660 991 5,624 313 14,874 
Year to date gross charge-offs
(9)(1)(15)(19)(5)(1)— — (50)
Other Loans
Pass$44 $24 $19 $6 $2 $49 $1,380 $93 $1,617 
Special Mention— — — — — — — — — 
Substandard— — — — — — 2 — 2 
Non-accrual— — — — — 2 24 — 26 
Total Other Loans44 24 19 6 2 51 1,406 93 1,645 
Year to date gross charge-offs
(6)(2)(5)(6)— (5)— — (24)
(1)Includes ADC loans.
(2)Includes lease financing receivables.
The following table presents the credit rating by vintage for our loans held for investment as of December 31, 2024:

Term Loans
Revolving
Loans		Revolving
Loans Converted to Term Loans
Amortized Cost Basis by Closing Year

2024
2023
2022
2021
2020
Prior To
2020
Total
Multi-family:
Pass$17 $700 $6,599 $6,070 $5,203 $3,997 $27 $— $22,613 
Special Mention—146886946467951—2,838
Substandard21235298681,5263,8345—6,887
Non-accrual
——1131442741,224——1,755
Total Multi-family
198377,9297,7767,6499,85033—34,093
Year to date gross charge-offs
——(28)(34)(42)(204)——(308)
Commercial Real Estate:(1)
Pass$542 $1,298 $1,753 $1,106 $576 $2,068 $1,597 $367 $9,307 
Special Mention—7213069106138120—635
Substandard23117911016272311761,330
Non-accrual
—37343644476—564
Total Commercial Real Estate
5441,4382,0961,3218483,3761,84037311,836
Year to date gross charge-offs
—(8)(81)(1)(27)(349)——(466)
One-to-Four Family
Pass$250 $521 $2,431 $859 $178 $609 $80 $2 $4,930 
Substandard128216172——201
Non-accrual
—416107285—70
Total One-to-Four Family2515272,4558712018098525,201
Year to date gross charge-offs
——(1)——(7)——(8)
Commercial and Industrial(2)
Pass$1,267 $2,609 $2,014 $651 $450 $759 $5,554 $1,164 $14,468 
Special Mention17291842111196206
Substandard135072727132658500
Non-accrual
3516098152—202
Total Commercial and Industrial1,3002,6932,2647364677985,9401,17815,376
Year to date gross charge-offs
(3)(20)(40)(20)(19)(34)——(136)
Other Loans
Pass$100 $29 $12 $4 $2 $32 $1,441 $121 $1,741 
Special Mention——————1—1
Non-accrual
—————519—24
Total Other Loans100291242371,4611211,766
Year to date gross charge-offs
(2)(4)(4)(1)(1)(8)——(20)
(1)Includes ADC loans.
(2)Includes lease financing receivables.
Schedule of Modifications to Borrowers Experiencing Financial Difficulty and Performance of Loans Modified in Last 12 Months, and TDRs
The following table describes the financial effect of the modification made to borrowers experiencing financial difficulty:

Interest Rate ReductionTerm Extension
Weighted-average contractual interest rate
FromTo
Weighted-Average Term (in years)
Three Months Ended September 30, 2025
One-to-four family first mortgage5.77 %4.77 %11.4
Other
9.93 %6.88 %13.1
Three Months Ended September 30, 2024
One-to-four family first mortgage— %— %10.7
Commercial and industrial— %— %1.9
Nine Months ended September 30, 2025
Commercial real estate(1)
— %— %0.5
One-to-four family first mortgage6.84 %5.37 %8.4
Other
10.06 %5.75 %13.1
Nine Months ended September 30, 2024
Multi-family8.08 %6.00 %
Commercial real estate(1)
8.13 %7.00 %
One-to-four family first mortgage4.69 %3.70 %12.1
Commercial and industrial7.81 %6.10 %0.6
Other
10.73 %4.30 %1.8
(1)Includes ADC loans.
The following table presents the amortized cost basis of the modifications for borrowers experiencing financial difficulty that subsequently defaulted and were within twelve months of the modification date:


Term ExtensionPrincipal ForgivenessCombination - Interest Rate Reduction and Term/Payment Extension/Delay
Total
Three Months Ended September 30, 2025
Commercial real estate(1)
6 — — 6 
One-to-four family first mortgage6 — 4 10 
Total$12 $— $4 $16 
Nine Months ended September 30, 2025
Commercial real estate(1)
6 — — 6 
One-to-four family first mortgage7 — 5 12 
Total$13 $— $5 $18 
Three Months Ended September 30, 2024
One-to-four family first mortgage1 — 1 2 
Commercial and industrial4 — — 4 
Total$5 $— $1 $6 
Nine Months Ended September 30, 2024
Commercial real estate(1)
$4 $— $— $4 
One-to-four family first mortgage1 — — 1 
Commercial and industrial4 — 1 5 
Other Consumer— — 1 1 
Total$9 $— $2 11 
(1)Includes ADC loans.
We closely monitor the performance of loans in which modifications were made to borrowers experiencing financial difficulty to understand the effectiveness of modification efforts.
The following table provides a summary of loan balances at September 30, 2025, which were modified during the prior twelve months, by class of financing receivable and delinquency status:
September 30, 2025

Current30 - 89 Past Due90+ Past DueTotal
Commercial real estate(1)
$— $6 $— $6 
One-to-four family first mortgage3 — 20 23 
Total$3 $6 $20 $29 
(1)Includes ADC loans.

The following table provides a summary of loan balances at September 30, 2024, which were modified during the prior twelve months, by class of financing receivable and delinquency status:

September 30, 2024

Current30 - 89 Past Due90+ Past DueTotal
Multi-family
$24 $— $— $24 
Commercial real estate(1)
8 — 4 12 
One-to-four family first mortgage7 — 5 12 
Commercial and industrial
2259
Other
1——1
Total$42 $2 $14 $58 
(1)Includes ADC loans.