Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | Apr. 29, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | PACWEST BANCORP | |
Entity Central Index Key | 1102112 | |
Document Period End Date | 31-Mar-15 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Current Fiscal Year End Date | -19 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | FALSE | |
Entity Common Stock, Shares Outstanding | 101,855,519 | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | |
In Thousands, unless otherwise specified | |||
Assets [Abstract] | |||
Cash and due from banks | $140,873 | $164,757 | |
Interest-earning deposits in financial institutions | 250,981 | 148,469 | |
Total cash and cash equivalents | 391,854 | 313,226 | |
Securities available-for-sale, at fair value | 1,595,409 | 1,567,177 | |
Federal Home Loan Bank stock, at cost | 28,905 | 40,609 | |
Total investment securities | 1,624,314 | 1,607,786 | |
Gross loans and leases | 12,302,292 | 11,904,684 | |
Deferred fees and costs | -30,126 | -22,252 | |
Allowance for loan and lease losses | -92,378 | -84,455 | |
Total loans and leases, net | 12,179,788 | 11,797,977 | |
Equipment leased to others under operating leases | 119,959 | 122,506 | |
Premises and equipment, net | 36,022 | 36,551 | |
Foreclosed assets, net | 35,940 | 43,721 | |
Goodwill | 1,728,380 | [1] | 1,720,479 |
Core deposit and customer relationship intangibles, net | 15,703 | 17,204 | |
Deferred tax asset, net | 236,065 | 284,411 | |
Other assets | 275,915 | 290,744 | |
Total assets | 16,643,940 | 16,234,605 | |
Liabilities and Equity [Abstract] | |||
Noninterest-bearing deposits | 3,029,463 | 2,931,352 | |
Interest-bearing deposits | 8,904,712 | 8,823,776 | |
Total deposits | 11,934,175 | 11,755,128 | |
Borrowings | 618,156 | 383,402 | |
Subordinated debentures | 431,448 | 433,583 | |
Accrued interest payable and other liabilities | 126,800 | 156,262 | |
Total liabilities | 13,110,579 | 12,728,375 | |
Commitments and Contingencies | 0 | 0 | |
Preferred stock ($0.01 par value; 5,000,000 shares authorized; none issued and outstanding) | 0 | 0 | |
Common stock ($0.01 par value, 200,000,000 shares authorized at March 31, 2015 and December 31, 2014; 104,241,437 and 104,219,197 shares issued, respectively, including 1,129,445 and 1,108,505 shares of unvested restricted stock, respectively) | 1,042 | 1,042 | |
Additional paid-in capital | 3,758,855 | 3,807,167 | |
Accumulated deficit | -212,633 | -285,712 | |
Treasury stock, at cost (1,197,180 shares at March 31, 2015 and December 31, 2014) | -42,647 | -42,647 | |
Accumulated other comprehensive income, net | 28,744 | 26,380 | |
Total stockholders' equity | 3,533,361 | 3,506,230 | |
Total liabilities and stockholders' equity | 16,643,940 | 16,234,605 | |
Purchased Credit Impaired Loans and Leases [Member] | |||
Assets [Abstract] | |||
Deferred fees and costs | ($61) | ($61) | |
[1] | The increase in goodwill for the Community Banking segment and National Lending segment compared to March 31, 2014, was due primarily to $1.5 billion from the CapitalSource Inc. merger. |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Preferred Stock, Shares Authorized | $0 | $0.01 |
Preferred Stock, Value, Outstanding | 0 | 5,000,000 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common Stock, Shares, Issued | 104,241,437 | 104,219,197 |
Unvested restricted shares | 1,129,445 | 1,108,505 |
Treasury Stock, Shares | 1,197,180 | 1,197,180 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
Interest income: | |||
Loans and leases | $202,097 | $197,472 | $77,463 |
Investment securities | 12,195 | 12,205 | 10,823 |
Deposits in financial institutions | 22 | 19 | 74 |
Total interest income | 214,314 | 209,696 | 88,360 |
Interest expense: | |||
Deposits | 10,479 | 9,972 | 1,225 |
Borrowings | 235 | 144 | 79 |
Subordinated debentures | 4,525 | 4,597 | 1,041 |
Total interest expense | 15,239 | 14,713 | 2,345 |
Net interest income | 199,075 | 194,983 | 86,015 |
Provision (negative provision) for credit losses | 16,434 | 2,063 | -644 |
Net interest income after provision (negative provision) for credit losses | 182,641 | 192,920 | 86,659 |
Non-interest income: | |||
Service charges on deposit accounts | 2,574 | 2,787 | 3,002 |
Other commissions and fees | 5,396 | 4,556 | 1,932 |
Leased equipment income | 5,382 | 5,382 | 0 |
Gain on sale of loans and leases | 0 | 7 | 106 |
Gain on securities | 3,275 | 0 | 4,752 |
FDIC loss sharing expense, net | -4,399 | -4,360 | -11,430 |
Other income | 8,643 | 4,331 | 6,329 |
Total noninterest income | 20,871 | 12,703 | 4,691 |
Non-interest expense: | |||
Compensation | 47,737 | 45,930 | 28,627 |
Occupancy | 10,600 | 10,745 | 7,595 |
Data processing | 4,308 | 4,050 | 2,540 |
Other professional services | 3,221 | 3,181 | 1,523 |
Insurance and assessments | 3,025 | 3,115 | 1,593 |
Intangible asset amortization | 1,501 | 1,619 | 1,364 |
Leased equipment depreciation | 3,103 | 3,103 | 0 |
Foreclosed assets expense (income), net | 336 | 1,938 | -1,861 |
Acquisition, integration and reorganization costs | 2,000 | 7,381 | 2,200 |
Other expense | 8,529 | 10,243 | 6,583 |
Total noninterest expense | 84,360 | 91,305 | 50,164 |
Earnings from continuing operations before taxes | 119,152 | 114,318 | 41,186 |
Income tax expense | -46,073 | -43,261 | -15,281 |
Net earnings from continuing operations | 73,079 | 71,057 | 25,905 |
Loss from discontinued operations before taxes | 0 | -105 | -1,413 |
Income tax benefit | 0 | 47 | 588 |
Net loss from discontinued operations | 0 | -58 | -825 |
Net earnings | $73,079 | $70,999 | $25,080 |
Earnings Per Share, Basic [Abstract] | |||
Net earnings from continuing operations | $0.71 | $0.69 | $0.57 |
Net earnings | $0.71 | $0.69 | $0.55 |
Earnings Per Share, Diluted [Abstract] | |||
Net earnings from continuing operations | $0.71 | $0.69 | $0.57 |
Net earnings | $0.71 | $0.69 | $0.55 |
Dividends [Abstract] | |||
Dividends declared per share | $0.50 | $0.50 | $0.25 |
Consolidated_Statement_of_Comp
Consolidated Statement of Comprehensive Income (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
Net earnings | $73,079 | $70,999 | $25,080 |
Unrealized holding gains on securities available-for-sale | 7,363 | 9,523 | 22,291 |
Income tax expense related to unrealized holding gains arising during the period | -3,105 | -3,964 | -9,363 |
Unrealized holding gains on securities available-for-sale, net of tax | 4,258 | 5,559 | 12,928 |
Reclassification adjustment for gains included in net earnings (1) | -3,275 | 0 | -4,752 |
Income tax expense related to reclassification adjustment | 1,381 | 0 | 1,996 |
Reclassification adjustment for gains included in net earnings, net of tax | -1,894 | 0 | -2,756 |
Other comprehensive income, net of tax | 2,364 | 5,559 | 10,172 |
Comprehensive income | $75,443 | $76,558 | $35,252 |
Consolidated_Statement_of_Shar
Consolidated Statement of Shareholders' Equity (USD $) | Total | Common Stock [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] |
In Thousands, except Share data, unless otherwise specified | ||||||
Stockholders' Equity Attributable to Parent at Dec. 31, 2014 | $3,506,230 | $1,042 | ($42,647) | $26,380 | $3,807,167 | ($285,712) |
Common Shares [Abstract] | ||||||
Shares, Outstanding | 103,044,257 | |||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 20,940 | |||||
Stock Issued During Period, Shares, Dividend Reinvestment Plan | 1,300 | |||||
Net earnings | 73,079 | 73,079 | ||||
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 2,364 | 0 | 0 | 2,364 | 0 | 0 |
Stock Granted, Value, Share-based Compensation, Net of Forfeitures | 3,112 | 0 | 0 | 0 | 3,112 | 0 |
Stock Issued During Period, Value, Dividend Reinvestment Plan | 58 | 0 | 0 | 0 | 58 | 0 |
Dividends, Common Stock, Cash | 51,482 | 0 | 0 | 0 | 51,482 | 0 |
Stockholders' Equity Attributable to Parent at Mar. 31, 2015 | $3,533,361 | $1,042 | ($42,647) | $28,744 | $3,758,855 | ($212,633) |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Net Cash Provided by (Used in) Operating Activities [Abstract] | ||
Net earnings | $73,079 | $25,080 |
Depreciation and amortization | 10,648 | 6,653 |
Provision (negative provision) for credit losses | 16,434 | -644 |
Loss (gain) on sale of foreclosed assets | 106 | -2,323 |
Provision for losses on foreclosed assets | 124 | 94 |
Gain on sale of loans and leases | 0 | -106 |
Gain on sale of premises and equipment | -3 | -1,571 |
Gain on sale of securities | -3,275 | -4,752 |
Unrealized gain on derivatives and foreign currencies, net | -2,715 | 0 |
Earned stock compensation | 3,112 | 1,611 |
Tax effect included in stockholders' equity of restricted stock vesting | 0 | -1,110 |
Increase in accrued and deferred income taxes, net | 38,722 | 19,679 |
Decrease in other assets | 19,356 | 4,740 |
Decrease in accrued interest payable and other liabilities | -29,102 | -20,107 |
Net cash provided by operating activities | 126,486 | 27,244 |
Net Cash Provided by (Used in) Investing Activities [Abstract] | ||
Net (increase) decrease in loan and leases | -403,438 | 149,440 |
Proceeds from sale of loans and leases | 0 | 1,128 |
Proceeds from maturities and paydowns | 27,547 | 33,860 |
Proceeds from sales | 144,945 | 142,041 |
Purchases | -196,568 | -140,048 |
Net redemptions of Federal Home Loan Bank stock | 11,704 | 2,939 |
Proceeds from sales of foreclosed assets | 7,945 | 7,209 |
Purchases of premises and equipment, net | -1,490 | -1,115 |
Proceeds from sales of premises and equipment | 29 | 3,753 |
Net cash (used in) provided by investing activities | -409,326 | 199,207 |
Net Cash Provided by (Used in) Financing Activities [Abstract] | ||
Noninterest-bearing | 97,224 | 73,163 |
Interest-bearing | 80,914 | 15,258 |
Net increase (decrease) in borrowings | 234,754 | -107,953 |
Restricted stock surrendered | 0 | -2,058 |
Tax effect included in stockholders' equity of restricted vesting stock | 0 | 1,110 |
Cash dividends paid | -51,424 | -11,306 |
Net cash provided by (used in) financing activities | 361,468 | -31,786 |
Net increase in cash and cash equivalents | 78,628 | 194,665 |
Cash and Cash Equivalents, Beginning Balance | 313,226 | 147,422 |
Cash and Cash Equivalents, Ending Balance | 391,854 | 342,087 |
Noncash transactions from investing activities: | ||
Cash paid for interest | 12,334 | 2,483 |
Cash received for income taxes | -7,695 | -5,693 |
Loans transferred to foreclosed assets | $394 | $13 |
Organization
Organization | 3 Months Ended |
Mar. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization | Note 1. Organization |
PacWest Bancorp is a bank holding company registered under the Bank Holding Company Act of 1956, as amended. Our principal business is to serve as the holding company for our Los Angeles‑based wholly owned banking subsidiary, Pacific Western Bank, which we refer to as “Pacific Western” or the “Bank.” When we say “we,” “our,” or the “Company,” we mean PacWest Bancorp together with its subsidiaries on a consolidated basis. When we refer to “PacWest” or to the holding company, we are referring to PacWest Bancorp, the parent company, on a stand‑alone basis. As of March 31, 2015, we had total assets of $16.6 billion, gross loans and leases of $12.3 billion, total deposits of $11.9 billion and total stockholders' equity of $3.5 billion. | |
Pacific Western is a full-service commercial bank offering a broad range of banking products and services including accepting demand, money market, and time deposits and originating loans and leases, including an array of commercial real estate loans and commercial lending products. The Bank strives to attract locally generated and relationship-based deposits, with 80 full-service branches located primarily in Southern California, extending from San Diego County to California’s Central Coast. The Bank also operates three banking offices in the San Francisco Bay area and four banking offices in the Central Valley. Our targeted collateral for real estate loan offerings includes healthcare properties, office properties, industrial properties, multifamily properties, hospitality properties, and retail properties. Our commercial loan products include equipment loans and leases, asset-based loans, loans to finance companies, and loans secured by borrower future cash flows. | |
As a result of the CapitalSource Inc. merger, Pacific Western Bank established the CapitalSource Division, which we also refer to as the National Lending segment. The CapitalSource Division lends throughout the United States, providing middle-market businesses asset-secured loans, equipment-secured loans and leases, and cash flow loans and providing real estate loans secured by various property types. The Bank's leasing operation, Pacific Western Equipment Finance, and its group specializing in asset-based lending, CapitalSource Business Finance Group (formerly BFI Business Finance and First Community Financial), are part of the CapitalSource Division. The CapitalSource Division’s loan and lease origination efforts are conducted through offices located in Chevy Chase, Maryland; Los Angeles and San Jose, California; St. Louis, Missouri; Denver, Colorado; Chicago, Illinois; New York, New York; and Midvale, Utah. When we refer to "CapitalSource Inc." we are referring to the company acquired on April 7, 2014 and when we refer to the "CapitalSource Division" we are referring to a division of the Bank that specializes in middle-market lending on a nationwide basis. | |
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 foreign exchange services. Our major operating expenses include interest paid by the Bank on deposits and borrowings, compensation and general operating expenses. | |
We have completed 27 acquisitions from May 2000 through March 31, 2015, including the acquisition of CapitalSource Inc. Since 2000, our acquisitions have been accounted for using the acquisition method of accounting and, accordingly, the operating results of the acquired entities have been included in the consolidated financial statements from their respective acquisition dates. See Note 3, Acquisitions, for more information about the CapitalSource Inc. merger. | |
Square 1 Financial, Inc. Merger Announcement | |
On March 2, 2015, PacWest announced the signing of an agreement and plan of merger (the “Agreement”) whereby PacWest and Square 1 Financial, Inc. (“Square 1”) will merge in a transaction valued at approximately $849 million. The surviving company will be PacWest Bancorp and the surviving subsidiary bank will be Pacific Western Bank. The Square 1 lending operations will continue to do business under the name Square 1 as a division of Pacific Western Bank. | |
Under the terms of the Agreement, Square 1 stockholders will receive 0.5997 shares of PacWest common stock for each share of Square 1 common stock. The total value of the per share merger consideration is $27.49, based on the $45.84 closing price of PacWest common stock on February 27, 2015, the last trading day before the transaction was announced. | |
As of December 31, 2014, on a pro forma consolidated basis, after giving effect to the Square 1 merger, the Company would have had approximately $19.8 billion in assets with 80 branches throughout California and one branch in North Carolina. | |
The transaction, currently expected to close in the fourth quarter of 2015, is subject to customary conditions, including the approval of bank regulatory authorities and the Square 1 stockholders. | |
Significant Accounting Policies | |
Except as discussed below, 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 Report on Form 10-K for the year ended December 31, 2014 as filed with the Securities and Exchange Commission ("Form 10-K"). | |
Accounting Standard Adopted in 2015 | |
Effective January 1, 2015, the Company adopted new accounting guidance for investments in affordable housing projects that qualify for the low-income housing tax credit. As a result of the adoption of this new guidance, the Company made an accounting policy election to amortize the initial cost of its qualifying investments in proportion to the tax credits and other benefits received and to present the amortization as a component of income tax expense, referred to as the proportional amortization method. Previously, investments in low-income housing tax credits were accounted for under the equity method and such amortization was presented in other expense. The guidance was required to be applied retrospectively and accordingly, prior period amounts for other expense and tax expense have been revised to conform with the current period presentation. The revised amortization amounts for prior periods were not material. | |
The retrospective application of the adoption of the new accounting guidance for the proportional amortization method resulted in a cumulative effect on retained earnings of a reduction of $195,000. | |
Basis of Presentation | |
Our interim consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Act of 1934. Accordingly, certain disclosures accompanying annual consolidated financial statements are omitted. In the opinion of management, all adjustments and eliminations, consisting solely of normal recurring accruals, considered necessary for the fair presentation of financial statements for the interim periods, have been included. The current period's results of operations are not necessarily indicative of the results that ultimately may be achieved for the year. The interim 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. | |
The accompanying financial statements reflect our consolidated accounts. All significant intercompany accounts and transactions have been eliminated. | |
Use of Estimates | |
We have 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 condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period to prepare these condensed consolidated financial statements in conformity with U.S. GAAP. Material estimates subject to change in the near term include, among other items, the allowance for credit losses, the carrying value and useful lives of intangible assets, the carrying value of the FDIC loss sharing asset, the realization of deferred tax assets, and the fair value estimates of assets acquired and liabilities assumed in acquisitions. These estimates may be adjusted as more current information becomes available, and any adjustment may be significant. | |
As described in Note 3, Acquisitions, the acquired assets and liabilities of CapitalSource Inc. were measured at their estimated fair values. We made significant estimates and exercised significant judgment in estimating fair values and accounting for such acquired assets and assumed liabilities. | |
Reclassifications | |
Certain prior period amounts have been reclassified to conform to the current period's presentation format. On the statements of earnings, the "Other expense" category includes loan-related legal expenses which were previously reported within the "Other professional services" category. On the balance sheets, the "Other assets" category includes "FDIC loss sharing asset," which was previously reported as a separate category. These reclassifications did not affect previously reported net earnings. |
Discontinued_Operations_Discon
Discontinued Operations Discontinued Operations Notes | 3 Months Ended |
Mar. 31, 2015 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued Operations | Note 2. Discontinued Operations |
Discontinued operations include the income and expense related to Electronic Payment Services ("EPS"), a discontinued division of the Bank acquired in connection with the First California Financial Group, Inc. ("FCAL") acquisition. Liabilities of the EPS division were $20.4 million and $21.3 million at March 31, 2015 and December 31, 2014, and consisted primarily of noninterest‑bearing deposits, and are included in the condensed consolidated balance sheets under the caption “Accrued interest payable and other liabilities.” For segment reporting purposes, the EPS division is included in our Community Banking segment. |
Acquisitions_Acquisitions_Note
Acquisitions Acquisitions Notes | 3 Months Ended | |||
Mar. 31, 2015 | ||||
Business Combinations [Abstract] | ||||
Acquisitions | Note 3. Acquisitions | |||
The following assets acquired and liabilities assumed of CapitalSource Inc. are presented at estimated fair value as of its acquisition date: | ||||
Acquisition and Date Acquired | ||||
CapitalSource Inc. | ||||
7-Apr-14 | ||||
(In thousands) | ||||
Assets Acquired: | ||||
Cash and due from banks | $ | 768,553 | ||
Interest‑earning deposits in financial institutions | 60,612 | |||
Investment securities available‑for‑sale | 382,797 | |||
FHLB stock | 46,060 | |||
Loans and leases | 6,877,427 | |||
Equipment leased to others under operating leases | 160,015 | |||
Premises and equipment | 12,663 | |||
Foreclosed assets | 6,382 | |||
Income tax assets | 304,856 | |||
Goodwill | 1,526,282 | |||
Core deposit and customer relationship intangibles | 6,720 | |||
Other assets(1) | 582,985 | |||
Total assets acquired | $ | 10,735,352 | ||
Liabilities Assumed: | ||||
Noninterest‑bearing deposits | $ | 4,631 | ||
Interest‑bearing deposits | 6,236,419 | |||
Other borrowings | 992,109 | |||
Subordinated debentures | 300,918 | |||
Accrued interest payable and other liabilities | 124,087 | |||
Total liabilities assumed | $ | 7,658,164 | ||
Total consideration paid | $ | 3,077,188 | ||
Summary of consideration: | ||||
Cash paid | $ | 483,118 | ||
PacWest common stock issued | 2,594,070 | |||
Total | $ | 3,077,188 | ||
___________________ | ||||
-1 | Includes a $484 million receivable for securities sales proceeds. | |||
CapitalSource Inc. Merger | ||||
We acquired CapitalSource Inc. on April 7, 2014. As part of the merger, CapitalSource Bank (“CSB”), a wholly owned subsidiary of CapitalSource Inc., merged with and into Pacific Western Bank. We completed the merger in order to augment our loan and lease generation capabilities and to diversify our loan portfolio. | ||||
At closing, we created the CapitalSource Division of the Bank. The CapitalSource Division provides a full spectrum of financing solutions across numerous industries and property types to middle market businesses nationwide. When we refer to "CapitalSource Inc." we are referring to the company acquired on April 7, 2014 and when we refer to the "CapitalSource Division" we are referring to a division of the Bank that lends throughout the United States, providing middle-market businesses asset-secured loans, equipment-secured loans and leases, and cash flow loans and providing real estate loans secured by various property types. | ||||
The CapitalSource Inc. merger has been accounted for under the acquisition method of accounting. The assets and liabilities, both tangible and intangible, were recorded at their estimated fair values as of the merger date. We made significant estimates and exercised significant judgment in estimating fair values and accounting for such acquired assets and liabilities. The application of the acquisition method of accounting resulted in goodwill of $1.5 billion. All of the recognized goodwill was non‑deductible for tax purposes. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets Goodwill and Other Intangilbe Assets (Notes) | 3 Months Ended | |||||||||||
Mar. 31, 2015 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||
Goodwill and Intangible Assets Disclosure | Note 4. Goodwill and Other Intangible Assets | |||||||||||
Goodwill arises from the acquisition method of accounting for business combinations and represents the excess of the purchase price over the fair value of the net assets and other identifiable intangible assets acquired. Our intangible assets with definite lives are core deposit intangibles ("CDI") and customer relationship intangibles ("CRI"). In the first quarter of 2015, we finalized the estimated fair value of the deferred tax assets acquired in the CapitalSource Inc. merger which resulted in a $7.9 million decrease with a corresponding adjustment to increase goodwill. | ||||||||||||
Goodwill and other intangible assets deemed to have indefinite lives generated from purchase business combinations are not subject to amortization and are instead tested for impairment no less than annually. Impairment exists when the carrying value of goodwill exceeds its implied fair value. An impairment loss would be recognized in an amount equal to that excess and would be included in “Noninterest expense” in the condensed consolidated statements of earnings. | ||||||||||||
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 loan and lease customers acquired. The weighted average amortization period remaining for all of our CDI and CRI is 4.3 years. The aggregate CDI and CRI amortization expense is expected to be $6.0 million for 2015. The estimated aggregate amortization expense related to these intangible assets for each of the next five years is $4.1 million for 2016, $2.3 million for 2017, $2.0 million for 2018, $1.7 million for 2019, and $953,000 for 2020. | ||||||||||||
The following table presents the changes in the carrying amount of goodwill for the period indicated: | ||||||||||||
Goodwill | ||||||||||||
(In thousands) | ||||||||||||
Balance, December 31, 2014 | $ | 1,720,479 | ||||||||||
To adjust acquired CapitalSource Inc. deferred tax assets | 7,901 | |||||||||||
Balance, March 31, 2015 | $ | 1,728,380 | ||||||||||
The following table presents the changes in CDI and CRI and the related accumulated amortization for the periods indicated: | ||||||||||||
Three Months Ended | ||||||||||||
March 31, | December 31, | March 31, | ||||||||||
2015 | 2014 | 2014 | ||||||||||
(In thousands) | ||||||||||||
Gross Amount of CDI and CRI: | ||||||||||||
Balance, end of period | $ | 53,090 | $ | 53,090 | $ | 48,963 | ||||||
Accumulated Amortization: | ||||||||||||
Balance, beginning of period | (35,886 | ) | (34,267 | ) | (31,715 | ) | ||||||
Amortization | (1,501 | ) | (1,619 | ) | (1,364 | ) | ||||||
Balance, end of period | (37,387 | ) | (35,886 | ) | (33,079 | ) | ||||||
Net CDI and CRI, end of period | $ | 15,703 | $ | 17,204 | $ | 15,884 | ||||||
Investments_Investments_Notes
Investments Investments (Notes) | 3 Months Ended | |||||||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||||||||||
Investment | Note 5. Investment Securities | |||||||||||||||||||||||||||||||
Securities Available-for-Sale | ||||||||||||||||||||||||||||||||
The following table presents amortized cost, gross unrealized gains and losses, and carrying values of securities available-for-sale as of the dates indicated: | ||||||||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||
Government agency and | ||||||||||||||||||||||||||||||||
government-sponsored enterprise | ||||||||||||||||||||||||||||||||
pass-through securities | $ | 439,696 | $ | 19,327 | $ | (131 | ) | $ | 458,892 | $ | 515,902 | $ | 20,142 | $ | (372 | ) | $ | 535,672 | ||||||||||||||
Government agency and | ||||||||||||||||||||||||||||||||
government-sponsored enterprise | ||||||||||||||||||||||||||||||||
collateralized mortgage obligations | 269,766 | 6,909 | (451 | ) | 276,224 | 275,513 | 3,513 | (1,080 | ) | 277,946 | ||||||||||||||||||||||
Covered private label collateralized | ||||||||||||||||||||||||||||||||
mortgage obligations | 26,496 | 7,014 | (66 | ) | 33,444 | 26,889 | 7,153 | (95 | ) | 33,947 | ||||||||||||||||||||||
Other private label collateralized | ||||||||||||||||||||||||||||||||
mortgage obligations | 9,645 | 52 | (47 | ) | 9,650 | 10,961 | 46 | (93 | ) | 10,914 | ||||||||||||||||||||||
Municipal securities | 579,344 | 15,708 | (2,199 | ) | 592,853 | 521,499 | 15,899 | (1,282 | ) | 536,116 | ||||||||||||||||||||||
Corporate debt securities | 47,485 | 683 | (423 | ) | 47,745 | 110,074 | 597 | (562 | ) | 110,109 | ||||||||||||||||||||||
Collateralized loan obligations | 112,883 | 922 | — | 113,805 | — | — | — | — | ||||||||||||||||||||||||
Government-sponsored enterprise debt | ||||||||||||||||||||||||||||||||
securities | 36,249 | 1,156 | — | 37,405 | 36,232 | 525 | — | 36,757 | ||||||||||||||||||||||||
Other securities | 25,451 | 34 | (94 | ) | 25,391 | 25,801 | 33 | (118 | ) | 25,716 | ||||||||||||||||||||||
Total | $ | 1,547,015 | $ | 51,805 | $ | (3,411 | ) | $ | 1,595,409 | $ | 1,522,871 | $ | 47,908 | $ | (3,602 | ) | $ | 1,567,177 | ||||||||||||||
Other securities consist primarily of asset‑backed securities. See Note 11, Fair Value Measurements, for information on fair value measurements and methodology. | ||||||||||||||||||||||||||||||||
As of March 31, 2015, securities available‑for‑sale with a carrying value of $354.7 million were pledged as collateral for borrowings, public deposits and other purposes as required by various statutes and agreements. | ||||||||||||||||||||||||||||||||
During the three months ended March 31, 2015 and 2014, we purchased $196.6 million and $140.0 million in securities available-for-sale. | ||||||||||||||||||||||||||||||||
During the three months ended March 31, 2015, we sold $13.9 million of Texas municipal securities for an $883,000 gain, $67.5 million in corporate debt securities for a realized loss of $232,000 and $60.3 million in government agency and government-sponsored enterprise ("GSE") pass-through securities for a realized gross gain of $2.6 million. These securities were sold as part of our investment portfolio risk management activities. During the three months ended March 31, 2014, we sold $137.3 million in GSE pass through securities for which we realized a gross gain of $4.8 million. These securities were sold to take advantage of favorable market conditions for premium coupon seasoned GSE pass through securities. We redeployed the proceeds into single-maturity investments that were expected to perform better under the current market conditions. | ||||||||||||||||||||||||||||||||
Realized gains or losses resulting from the sale of securities are calculated using the specific identification method and included in gain on securities. During the three months ended March 31, 2015 and 2014, we had $4.3 million and $12.9 million of net unrealized after-tax gains as a component of accumulated other comprehensive income. | ||||||||||||||||||||||||||||||||
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, for which other-than-temporary impairments have not been recognized in earnings, as of the dates indicated: | ||||||||||||||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||||||||||
Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | |||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||
Government agency and government- | ||||||||||||||||||||||||||||||||
sponsored enterprise pass-through | ||||||||||||||||||||||||||||||||
securities | $ | 5,031 | $ | (42 | ) | $ | 10,085 | $ | (89 | ) | $ | 15,116 | $ | (131 | ) | |||||||||||||||||
Government agency and government- | ||||||||||||||||||||||||||||||||
sponsored enterprise collateralized | ||||||||||||||||||||||||||||||||
mortgage obligations | — | — | 14,403 | (451 | ) | 14,403 | (451 | ) | ||||||||||||||||||||||||
Covered private label collateralized | ||||||||||||||||||||||||||||||||
mortgage obligations | 726 | (6 | ) | 643 | (60 | ) | 1,369 | (66 | ) | |||||||||||||||||||||||
Other private label collateralized | ||||||||||||||||||||||||||||||||
mortgage obligations | 1,206 | (46 | ) | 360 | (1 | ) | 1,566 | (47 | ) | |||||||||||||||||||||||
Municipal securities | 112,361 | (1,277 | ) | 38,687 | (922 | ) | 151,048 | (2,199 | ) | |||||||||||||||||||||||
Corporate debt securities | 25,104 | (423 | ) | — | — | 25,104 | (423 | ) | ||||||||||||||||||||||||
Other securities | 6,453 | (72 | ) | 10,020 | (22 | ) | 16,473 | (94 | ) | |||||||||||||||||||||||
Total | $ | 150,881 | $ | (1,866 | ) | $ | 74,198 | $ | (1,545 | ) | $ | 225,079 | $ | (3,411 | ) | |||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||||||||||
Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | |||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||
Government agency and government- | ||||||||||||||||||||||||||||||||
sponsored enterprise pass-through | ||||||||||||||||||||||||||||||||
securities | $ | 10,711 | $ | (13 | ) | $ | 27,100 | $ | (359 | ) | $ | 37,811 | $ | (372 | ) | |||||||||||||||||
Government agency and government- | ||||||||||||||||||||||||||||||||
sponsored enterprise collateralized | ||||||||||||||||||||||||||||||||
mortgage obligations | 23,908 | (73 | ) | 40,652 | (1,007 | ) | 64,560 | (1,080 | ) | |||||||||||||||||||||||
Covered private label collateralized | ||||||||||||||||||||||||||||||||
mortgage obligations | — | — | 1,000 | (95 | ) | 1,000 | (95 | ) | ||||||||||||||||||||||||
Other private label collateralized | ||||||||||||||||||||||||||||||||
mortgage obligations | 1,618 | (93 | ) | — | — | 1,618 | (93 | ) | ||||||||||||||||||||||||
Municipal securities | 11,854 | (66 | ) | 84,822 | (1,216 | ) | 96,676 | (1,282 | ) | |||||||||||||||||||||||
Corporate debt securities | 52,071 | (547 | ) | 10,131 | (15 | ) | 62,202 | (562 | ) | |||||||||||||||||||||||
Other securities | 6,440 | (90 | ) | 10,019 | (28 | ) | 16,459 | (118 | ) | |||||||||||||||||||||||
Total | $ | 106,602 | $ | (882 | ) | $ | 173,724 | $ | (2,720 | ) | $ | 280,326 | $ | (3,602 | ) | |||||||||||||||||
We reviewed the securities that were in a loss position at March 31, 2015, and concluded their 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. Accordingly, we determined the securities were temporarily impaired and we did not recognize such impairment in the condensed consolidated statements of earnings. We occasionally sell securities for risk management purposes to reduce risks related to price volatility and duration. We do not foresee having to sell these securities strictly for liquidity needs and believe that it is more likely than not we would not be required to sell these securities before recovery of their amortized cost. | ||||||||||||||||||||||||||||||||
Contractual Maturities | ||||||||||||||||||||||||||||||||
The following table presents the contractual maturities of our available-for-sale securities portfolio based on amortized cost and carrying value as of the date indicated: | ||||||||||||||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||||||
Amortized Cost | Estimated Fair Value | |||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Due in one year or less | $ | 18,358 | $ | 18,538 | ||||||||||||||||||||||||||||
Due after one year through five years | 76,173 | 76,515 | ||||||||||||||||||||||||||||||
Due after five years through ten years | 276,933 | 287,023 | ||||||||||||||||||||||||||||||
Due after ten years | 1,175,551 | 1,213,333 | ||||||||||||||||||||||||||||||
Total securities available-for-sale | $ | 1,547,015 | $ | 1,595,409 | ||||||||||||||||||||||||||||
Mortgage-backed securities have contractual terms to maturity, but require periodic payments to reduce principal. In addition, expected maturities may differ from contractual maturities because obligors and/or issuers may have the right to call or prepay obligations with or without call or prepayment penalties. | ||||||||||||||||||||||||||||||||
FHLB Stock | ||||||||||||||||||||||||||||||||
At March 31, 2015, we had a $28.9 million investment in Federal Home Loan Bank of San Francisco ("FHLB") stock carried at cost. During the three months ended March 31, 2015, FHLB stock declined $11.7 million due primarily to $15.6 million in redemptions, offset partially by $3.9 million in purchases. We evaluated the carrying value of our FHLB stock investment at March 31, 2015, and determined that it was not impaired. Our evaluation considered the long-term nature of the investment, the current financial and liquidity position of the FHLB, repurchase activity of excess stock by the FHLB at its carrying value, the return on the investment, and our intent and ability to hold this investment for a period of time sufficient to recover our recorded investment. | ||||||||||||||||||||||||||||||||
Interest Income on Investment Securities | ||||||||||||||||||||||||||||||||
The following table presents the composition of our interest income on investment securities for the periods indicated: | ||||||||||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | 31-Mar-14 | ||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Taxable interest | $ | 7,473 | $ | 7,697 | $ | 6,920 | ||||||||||||||||||||||||||
Non-taxable interest | 3,894 | 3,593 | 3,328 | |||||||||||||||||||||||||||||
Dividend income | 828 | 915 | 575 | |||||||||||||||||||||||||||||
Total interest income on investment securities | $ | 12,195 | $ | 12,205 | $ | 10,823 | ||||||||||||||||||||||||||
Loans_and_Credit_Quality
Loans and Credit Quality | 3 Months Ended | |||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||
Loans and Credit Quality | Note 6. Loans and Leases | |||||||||||||||||||||||||||
The Company’s loan and lease portfolio includes originated and purchased loans and leases. Originated loans and leases and purchased loans and leases for which there was no evidence of credit deterioration at their acquisition date and for which it was probable that we would be able to collect all contractually required payments, are referred to collectively as non-purchased credit impaired loans, or "Non-PCI loans." Purchased loans for which there was, at the acquisition date, evidence of credit deterioration since their origination and it was probable that we would be unable to collect all contractually required payments are referred to as purchased credit impaired loans, or "PCI loans". | ||||||||||||||||||||||||||||
Non-PCI loans are carried at the principal amount outstanding, net of deferred fees and costs, and in the case of acquired loans, net of purchase discounts and premiums. Deferred fees and costs and purchase discounts and premiums on acquired non-impaired loans are recognized as an adjustment to interest income over the contractual life of the loans using the effective interest method or taken into income when the related loans are paid off or sold. | ||||||||||||||||||||||||||||
PCI loans are accounted for in accordance with ASC Subtopic 310‑30, “Loans and Debt Securities Acquired with Deteriorated Credit Quality". For PCI loans, at the time of acquisition we (i) calculate the contractual amount and timing of undiscounted principal and interest payments (the "undiscounted contractual cash flows") and (ii) estimate the amount and timing of undiscounted expected principal and interest payments (the "undiscounted expected cash flows"). The difference between the undiscounted contractual cash flows and the undiscounted expected cash flows is the nonaccretable difference. The difference between the undiscounted cash flows expected to be collected and the estimated fair value of the acquired loans is the accretable yield. The nonaccretable difference represents an estimate of the loss exposure of principal and interest related to the PCI loan portfolio; such amount is subject to change over time based on the performance of such loans. The carrying value of PCI loans is reduced by payments received, both principal and interest, and increased by the portion of the accretable yield recognized as interest income. | ||||||||||||||||||||||||||||
The following table summarizes the composition of our loan and lease portfolio as of the dates indicated: | ||||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||||||
Non-PCI | Non-PCI | |||||||||||||||||||||||||||
Loans | PCI | Loans | PCI | |||||||||||||||||||||||||
and Leases | Loans | Total | and Leases | Loans | Total | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Real estate mortgage | $ | 5,601,937 | $ | 226,502 | $ | 5,828,439 | $ | 5,350,827 | $ | 256,489 | $ | 5,607,316 | ||||||||||||||||
Real estate construction | 331,108 | 1,897 | 333,005 | 309,162 | 6,924 | 316,086 | ||||||||||||||||||||||
Commercial | 6,021,282 | 25,664 | 6,046,946 | 5,852,420 | 27,155 | 5,879,575 | ||||||||||||||||||||||
Consumer | 93,619 | 283 | 93,902 | 101,423 | 284 | 101,707 | ||||||||||||||||||||||
Total gross loans and leases | 12,047,946 | 254,346 | 12,302,292 | 11,613,832 | 290,852 | 11,904,684 | ||||||||||||||||||||||
Deferred fees and costs | (30,065 | ) | (61 | ) | (30,126 | ) | (22,191 | ) | (61 | ) | (22,252 | ) | ||||||||||||||||
Total loans and leases, net of deferred fees | 12,017,881 | 254,285 | 12,272,166 | 11,591,641 | 290,791 | 11,882,432 | ||||||||||||||||||||||
Allowance for loan and lease losses | (79,680 | ) | (12,698 | ) | (92,378 | ) | (70,456 | ) | (13,999 | ) | (84,455 | ) | ||||||||||||||||
Total net loans and leases | $ | 11,938,201 | $ | 241,587 | $ | 12,179,788 | $ | 11,521,185 | $ | 276,792 | $ | 11,797,977 | ||||||||||||||||
The following tables present a summary of the activity in the allowance for loan and lease losses on Non‑PCI loans and leases by portfolio segment and PCI loans for the periods indicated: | ||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | ||||||||||||||||||||||||||||
Real Estate Mortgage | Real Estate Construction | Commercial | Consumer | Total Non-PCI | Total PCI | Total | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses: | ||||||||||||||||||||||||||||
Balance, beginning of period | $ | 25,097 | $ | 4,248 | $ | 39,858 | $ | 1,253 | $ | 70,456 | $ | 13,999 | $ | 84,455 | ||||||||||||||
Charge-offs | (1,453 | ) | — | (8,395 | ) | (63 | ) | (9,911 | ) | (579 | ) | (10,490 | ) | |||||||||||||||
Recoveries | 1,295 | 632 | 410 | 194 | 2,531 | 11 | 2,542 | |||||||||||||||||||||
Provision (negative provision) | 5,972 | (2,707 | ) | 13,921 | (582 | ) | 16,604 | (733 | ) | 15,871 | ||||||||||||||||||
Balance, end of period | $ | 30,911 | $ | 2,173 | $ | 45,794 | $ | 802 | $ | 79,680 | $ | 12,698 | $ | 92,378 | ||||||||||||||
Amount of the allowance applicable to loans and leases: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,500 | $ | 55 | $ | 10,493 | $ | 178 | $ | 12,226 | ||||||||||||||||||
Collectively evaluated for impairment | $ | 29,411 | $ | 2,118 | $ | 35,301 | $ | 624 | $ | 67,454 | ||||||||||||||||||
Acquired loans with deteriorated credit quality | $ | 12,698 | ||||||||||||||||||||||||||
Loan and Leases: | ||||||||||||||||||||||||||||
Ending balance | $ | 5,588,430 | $ | 328,709 | $ | 6,007,067 | $ | 93,675 | $ | 12,017,881 | $ | 254,285 | $ | 12,272,166 | ||||||||||||||
The ending balance of the loan and lease portfolio is composed of loans and leases: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 59,733 | $ | 8,639 | $ | 103,208 | $ | 3,729 | $ | 175,309 | ||||||||||||||||||
Collectively evaluated for impairment | $ | 5,528,697 | $ | 320,070 | $ | 5,903,859 | $ | 89,946 | $ | 11,842,572 | ||||||||||||||||||
Acquired loans with deteriorated credit quality | $ | 254,285 | ||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||||
Real Estate Mortgage | Real Estate Construction | Commercial | Consumer | Total Non-PCI | Total PCI | Total | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Allowance for loan and lease losses: | ||||||||||||||||||||||||||||
Balance, beginning of period | $ | 26,078 | $ | 4,298 | $ | 26,921 | $ | 2,944 | $ | 60,241 | $ | 21,793 | $ | 82,034 | ||||||||||||||
Charge-offs | (94 | ) | — | (1,441 | ) | (15 | ) | (1,550 | ) | — | (1,550 | ) | ||||||||||||||||
Recoveries | 261 | 24 | 377 | 27 | 689 | 51 | 740 | |||||||||||||||||||||
Provision (negative provision) | (1,893 | ) | (219 | ) | 1,883 | 829 | 600 | (644 | ) | (44 | ) | |||||||||||||||||
Balance, end of period | $ | 24,352 | $ | 4,103 | $ | 27,740 | $ | 3,785 | $ | 59,980 | $ | 21,200 | $ | 81,180 | ||||||||||||||
Amount of the allowance applicable to loans and leases: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 2,690 | $ | 251 | $ | 5,337 | $ | 387 | $ | 8,665 | ||||||||||||||||||
Collectively evaluated for impairment | $ | 21,662 | $ | 3,852 | $ | 22,403 | $ | 3,398 | $ | 51,315 | ||||||||||||||||||
Acquired loans with deteriorated credit quality | $ | 21,200 | ||||||||||||||||||||||||||
Loan and Leases: | ||||||||||||||||||||||||||||
Ending balance | $ | 2,320,554 | $ | 240,073 | $ | 1,201,142 | $ | 66,782 | $ | 3,828,551 | $ | 332,516 | $ | 4,161,067 | ||||||||||||||
The ending balance of the loan and lease portfolio is composed of loans and leases: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 58,532 | $ | 12,926 | $ | 17,792 | $ | 3,972 | $ | 93,222 | ||||||||||||||||||
Collectively evaluated for impairment | $ | 2,262,022 | $ | 227,147 | $ | 1,183,350 | $ | 62,810 | $ | 3,735,329 | ||||||||||||||||||
Acquired loans with deteriorated credit quality | $ | 332,516 | ||||||||||||||||||||||||||
Non‑Purchased Credit Impaired (Non‑PCI) Loans and Leases | ||||||||||||||||||||||||||||
The following table presents the credit risk rating categories for Non‑PCI loans and leases by portfolio segment and class as of the dates indicated. Nonclassified loans and leases are those with a credit risk rating of either pass or special mention, while classified loans and leases are those with a credit risk rating of either substandard or doubtful. | ||||||||||||||||||||||||||||
31-Mar-15 | December 31, 2014 | |||||||||||||||||||||||||||
Classified | Nonclassified | Total | Classified | Nonclassified | Total | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Real estate mortgage: | ||||||||||||||||||||||||||||
Hospitality | $ | 16,928 | $ | 595,161 | $ | 612,089 | $ | 17,761 | $ | 542,458 | $ | 560,219 | ||||||||||||||||
SBA | 10,919 | 377,857 | 388,776 | 11,141 | 364,786 | 375,927 | ||||||||||||||||||||||
Other | 69,859 | 4,517,706 | 4,587,565 | 68,084 | 4,336,330 | 4,404,414 | ||||||||||||||||||||||
Total real estate mortgage | 97,706 | 5,490,724 | 5,588,430 | 96,986 | 5,243,574 | 5,340,560 | ||||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
Residential | 398 | 121,918 | 122,316 | 402 | 96,326 | 96,728 | ||||||||||||||||||||||
Commercial | 1,456 | 204,937 | 206,393 | 3,346 | 207,061 | 210,407 | ||||||||||||||||||||||
Total real estate construction | 1,854 | 326,855 | 328,709 | 3,748 | 303,387 | 307,135 | ||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 21,265 | 373,123 | 394,388 | 22,433 | 416,754 | 439,187 | ||||||||||||||||||||||
Unsecured | 1,267 | 142,047 | 143,314 | 1,323 | 130,501 | 131,824 | ||||||||||||||||||||||
Asset-based | 11,304 | 1,708,473 | 1,719,777 | 11,547 | 1,783,304 | 1,794,851 | ||||||||||||||||||||||
Cash flow | 105,763 | 2,687,421 | 2,793,184 | 83,321 | 2,376,530 | 2,459,851 | ||||||||||||||||||||||
Equipment finance | 86,938 | 827,078 | 914,016 | 15,973 | 953,516 | 969,489 | ||||||||||||||||||||||
SBA | 3,128 | 39,260 | 42,388 | 3,207 | 44,054 | 47,261 | ||||||||||||||||||||||
Total commercial | 229,665 | 5,777,402 | 6,007,067 | 137,804 | 5,704,659 | 5,842,463 | ||||||||||||||||||||||
Consumer | 3,957 | 89,718 | 93,675 | 4,073 | 97,410 | 101,483 | ||||||||||||||||||||||
Total Non-PCI loans and leases | $ | 333,182 | $ | 11,684,699 | $ | 12,017,881 | $ | 242,611 | $ | 11,349,030 | $ | 11,591,641 | ||||||||||||||||
In addition to our internal risk rating process, our federal and state banking regulators, as an integral part of their examination process, periodically review the Company’s loan and lease risk rating classifications. Our regulators may require the Company to recognize rating downgrades based on their judgments related to information available to them at the time of their examinations. Risk rating downgrades generally result in higher allowances for credit losses. | ||||||||||||||||||||||||||||
The following tables present an aging analysis of our Non‑PCI loans and leases by portfolio segment and class as of the dates indicated: | ||||||||||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||
30-89 Days Past Due | 90 or More | Total Past Due | Current | Total | ||||||||||||||||||||||||
Days Past Due | ||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Real estate mortgage: | ||||||||||||||||||||||||||||
Hospitality | $ | — | $ | — | $ | — | $ | 612,089 | $ | 612,089 | ||||||||||||||||||
SBA | 5,582 | 5,487 | 11,069 | 377,707 | 388,776 | |||||||||||||||||||||||
Other | 6,234 | 5,319 | 11,553 | 4,576,012 | 4,587,565 | |||||||||||||||||||||||
Total real estate mortgage | 11,816 | 10,806 | 22,622 | 5,565,808 | 5,588,430 | |||||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
Residential | — | — | — | 122,316 | 122,316 | |||||||||||||||||||||||
Commercial | — | — | — | 206,393 | 206,393 | |||||||||||||||||||||||
Total real estate construction | — | — | — | 328,709 | 328,709 | |||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 1,782 | 424 | 2,206 | 392,182 | 394,388 | |||||||||||||||||||||||
Unsecured | — | 16 | 16 | 143,298 | 143,314 | |||||||||||||||||||||||
Asset-based | — | — | — | 1,719,777 | 1,719,777 | |||||||||||||||||||||||
Cash flow | — | — | — | 2,793,184 | 2,793,184 | |||||||||||||||||||||||
Equipment finance | 23,409 | — | 23,409 | 890,607 | 914,016 | |||||||||||||||||||||||
SBA | 788 | 1,362 | 2,150 | 40,238 | 42,388 | |||||||||||||||||||||||
Total commercial | 25,979 | 1,802 | 27,781 | 5,979,286 | 6,007,067 | |||||||||||||||||||||||
Consumer | 9 | 3,196 | 3,205 | 90,470 | 93,675 | |||||||||||||||||||||||
Total Non-PCI loans and leases | $ | 37,804 | $ | 15,804 | $ | 53,608 | $ | 11,964,273 | $ | 12,017,881 | ||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||
30-89 Days Past Due | 90 or More | Total Past Due | Current | Total | ||||||||||||||||||||||||
Days Past Due | ||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Real estate mortgage: | ||||||||||||||||||||||||||||
Hospitality | $ | — | $ | — | $ | — | $ | 560,219 | $ | 560,219 | ||||||||||||||||||
SBA | 5,530 | 4,357 | 9,887 | 366,040 | 375,927 | |||||||||||||||||||||||
Other | 6,098 | 7,630 | 13,728 | 4,390,686 | 4,404,414 | |||||||||||||||||||||||
Total real estate mortgage | 11,628 | 11,987 | 23,615 | 5,316,945 | 5,340,560 | |||||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
Residential | — | — | — | 96,728 | 96,728 | |||||||||||||||||||||||
Commercial | — | 715 | 715 | 209,692 | 210,407 | |||||||||||||||||||||||
Total real estate construction | — | 715 | 715 | 306,420 | 307,135 | |||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 878 | 965 | 1,843 | 437,344 | 439,187 | |||||||||||||||||||||||
Unsecured | 69 | 45 | 114 | 131,710 | 131,824 | |||||||||||||||||||||||
Asset-based | — | — | — | 1,794,851 | 1,794,851 | |||||||||||||||||||||||
Cash flow | — | 232 | 232 | 2,459,619 | 2,459,851 | |||||||||||||||||||||||
Equipment finance | 6,525 | 366 | 6,891 | 962,598 | 969,489 | |||||||||||||||||||||||
SBA | 205 | 1,362 | 1,567 | 45,694 | 47,261 | |||||||||||||||||||||||
Total commercial | 7,677 | 2,970 | 10,647 | 5,831,816 | 5,842,463 | |||||||||||||||||||||||
Consumer | 101 | 3,146 | 3,247 | 98,236 | 101,483 | |||||||||||||||||||||||
Total Non-PCI loans and leases | $ | 19,406 | $ | 18,818 | $ | 38,224 | $ | 11,553,417 | $ | 11,591,641 | ||||||||||||||||||
At March 31, 2015 and December 31, 2014, the Company had no loans and leases (excluding PCI loans) that were greater than 90 days past due and still accruing interest. It is the Company’s 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 judgment of management, there is a reasonable doubt as to the collectibility 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 collectible. | ||||||||||||||||||||||||||||
The following table presents our nonaccrual and performing Non‑PCI loans and leases by portfolio segment and class as of the dates indicated: | ||||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||||||||
Nonaccrual | Performing | Total | Nonaccrual | Performing | Total | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Real estate mortgage: | ||||||||||||||||||||||||||||
Hospitality | $ | 8,088 | $ | 604,001 | $ | 612,089 | $ | 6,366 | $ | 553,853 | $ | 560,219 | ||||||||||||||||
SBA | 10,919 | 377,857 | 388,776 | 11,141 | 364,786 | 375,927 | ||||||||||||||||||||||
Other | 18,328 | 4,569,237 | 4,587,565 | 20,105 | 4,384,309 | 4,404,414 | ||||||||||||||||||||||
Total real estate mortgage | 37,335 | 5,551,095 | 5,588,430 | 37,612 | 5,302,948 | 5,340,560 | ||||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
Residential | 379 | 121,937 | 122,316 | 381 | 96,347 | 96,728 | ||||||||||||||||||||||
Commercial | 453 | 205,940 | 206,393 | 1,178 | 209,229 | 210,407 | ||||||||||||||||||||||
Total real estate construction | 832 | 327,877 | 328,709 | 1,559 | 305,576 | 307,135 | ||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 3,601 | 390,787 | 394,388 | 5,450 | 433,737 | 439,187 | ||||||||||||||||||||||
Unsecured | 594 | 142,720 | 143,314 | 639 | 131,185 | 131,824 | ||||||||||||||||||||||
Asset-based | 4,159 | 1,715,618 | 1,719,777 | 4,574 | 1,790,277 | 1,794,851 | ||||||||||||||||||||||
Cash flow | 15,172 | 2,778,012 | 2,793,184 | 15,964 | 2,443,887 | 2,459,851 | ||||||||||||||||||||||
Equipment finance | 71,039 | 842,977 | 914,016 | 11,131 | 958,358 | 969,489 | ||||||||||||||||||||||
SBA | 3,128 | 39,260 | 42,388 | 3,207 | 44,054 | 47,261 | ||||||||||||||||||||||
Total commercial | 97,693 | 5,909,374 | 6,007,067 | 40,965 | 5,801,498 | 5,842,463 | ||||||||||||||||||||||
Consumer | 3,474 | 90,201 | 93,675 | 3,485 | 97,998 | 101,483 | ||||||||||||||||||||||
Total Non-PCI loans and leases | $ | 139,334 | $ | 11,878,547 | $ | 12,017,881 | $ | 83,621 | $ | 11,508,020 | $ | 11,591,641 | ||||||||||||||||
At March 31, 2015, nonaccrual loans and leases totaled $139.3 million. Nonaccrual loans and leases included all loans and leases 90 or more days past due of $15.8 million, $21.7 million of loans 30 to 89 days past due, and $101.8 million of current loans that were placed on nonaccrual status based on management’s judgment regarding their collectibility. Nonaccrual loans and leases totaled $83.6 million at December 31, 2014, including all loans and leases 90 or more days past due of $18.8 million, $8.7 million of loans 30 to 89 days past due, and $56.1 million of current loans that were placed on nonaccrual status based on management’s judgment regarding their collectibility. The increase in nonaccrual loans and leases generally, and equipment finance loans and leases specifically, was due to three relationships totaling $64.9 million that are related to the oil and gas industries and which have been adversely impacted by continued low oil prices. | ||||||||||||||||||||||||||||
Non‑PCI nonaccrual loans and leases and performing restructured loans are considered impaired for reporting purposes. The following table presents the composition of our impaired loans and leases as of the dates indicated: | ||||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||||||
Performing | Total | Performing | Total | |||||||||||||||||||||||||
Nonaccrual | Restructured | Impaired | Nonaccrual | Restructured | Impaired | |||||||||||||||||||||||
Loans/Leases | Loans | Loans/Leases | Loans/Leases | Loans | Loans/Leases | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Real estate mortgage | $ | 37,335 | $ | 22,398 | $ | 59,733 | $ | 37,612 | $ | 20,245 | $ | 57,857 | ||||||||||||||||
Real estate construction | 832 | 7,807 | 8,639 | 1,559 | 8,996 | 10,555 | ||||||||||||||||||||||
Commercial | 97,693 | 5,515 | 103,208 | 40,965 | 5,744 | 46,709 | ||||||||||||||||||||||
Consumer | 3,474 | 255 | 3,729 | 3,485 | 259 | 3,744 | ||||||||||||||||||||||
Total | $ | 139,334 | $ | 35,975 | $ | 175,309 | $ | 83,621 | $ | 35,244 | $ | 118,865 | ||||||||||||||||
The following tables present information regarding our Non‑PCI impaired loans and leases by portfolio segment and class as of and for the dates indicated: | ||||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related | Recorded Investment | Unpaid Principal Balance | Related | |||||||||||||||||||||||
Allowance | Allowance | |||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
With An Allowance Recorded: | ||||||||||||||||||||||||||||
Real estate mortgage: | ||||||||||||||||||||||||||||
Hospitality | $ | 1,930 | $ | 1,930 | $ | 31 | $ | 1,946 | $ | 1,945 | $ | 47 | ||||||||||||||||
SBA | — | — | — | — | — | — | ||||||||||||||||||||||
Other | 12,986 | 13,169 | 1,469 | 9,136 | 9,233 | 646 | ||||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
Residential | 759 | 759 | 41 | 763 | 763 | 46 | ||||||||||||||||||||||
Commercial | 403 | 401 | 14 | 1,128 | 4,934 | 23 | ||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 4,811 | 5,486 | 3,497 | 4,630 | 5,246 | 3,771 | ||||||||||||||||||||||
Unsecured | 1,055 | 1,067 | 913 | 912 | 924 | 799 | ||||||||||||||||||||||
Asset-based | 47 | 157 | 47 | 137 | 247 | 137 | ||||||||||||||||||||||
Cash flow | 14,974 | 17,694 | 2,522 | 15,578 | 17,970 | 2,667 | ||||||||||||||||||||||
Equipment finance | 9,347 | 9,764 | 3,514 | 6,956 | 7,268 | 2,601 | ||||||||||||||||||||||
SBA | — | — | — | — | — | — | ||||||||||||||||||||||
Consumer | 383 | 386 | 178 | 143 | 142 | 37 | ||||||||||||||||||||||
With No Related Allowance Recorded: | ||||||||||||||||||||||||||||
Real estate mortgage: | ||||||||||||||||||||||||||||
Hospitality | $ | 8,088 | $ | 10,096 | $ | — | $ | 6,366 | $ | 7,593 | $ | — | ||||||||||||||||
SBA | 10,919 | 15,030 | — | 11,141 | 14,708 | — | ||||||||||||||||||||||
Other | 25,810 | 39,548 | — | 29,268 | 40,643 | — | ||||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
Residential | 20 | 19 | — | 21 | 19 | — | ||||||||||||||||||||||
Commercial | 7,457 | 7,571 | — | 8,643 | 8,749 | — | ||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 3,324 | 4,234 | — | 5,566 | 6,877 | — | ||||||||||||||||||||||
Unsecured | 519 | 564 | — | 725 | 809 | — | ||||||||||||||||||||||
Asset-based | 4,111 | 5,220 | — | 4,436 | 5,415 | — | ||||||||||||||||||||||
Cash flow | 198 | 735 | — | 387 | 919 | — | ||||||||||||||||||||||
Equipment finance | 61,694 | 67,850 | — | 4,175 | 7,528 | — | ||||||||||||||||||||||
SBA | 3,128 | 4,762 | — | 3,207 | 4,920 | — | ||||||||||||||||||||||
Consumer | 3,346 | 3,506 | — | 3,601 | 3,768 | — | ||||||||||||||||||||||
Total Non-PCI Loans and Leases With and Without an Allowance Recorded: | ||||||||||||||||||||||||||||
Real estate mortgage | $ | 59,733 | $ | 79,773 | $ | 1,500 | $ | 57,857 | $ | 74,122 | $ | 693 | ||||||||||||||||
Real estate construction | 8,639 | 8,750 | 55 | 10,555 | 14,465 | 69 | ||||||||||||||||||||||
Commercial | 103,208 | 117,533 | 10,493 | 46,709 | 58,123 | 9,975 | ||||||||||||||||||||||
Consumer | 3,729 | 3,892 | 178 | 3,744 | 3,910 | 37 | ||||||||||||||||||||||
Total | $ | 175,309 | $ | 209,948 | $ | 12,226 | $ | 118,865 | $ | 150,620 | $ | 10,774 | ||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||
Weighted Average | Interest | Weighted Average | Interest | |||||||||||||||||||||||||
Balance(1) | Income | Balance(1) | Income | |||||||||||||||||||||||||
Recognized | Recognized | |||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
With An Allowance Recorded: | ||||||||||||||||||||||||||||
Real estate mortgage: | ||||||||||||||||||||||||||||
Hospitality | $ | 1,930 | $ | 19 | $ | 5,658 | $ | 20 | ||||||||||||||||||||
SBA | — | — | 1,092 | 15 | ||||||||||||||||||||||||
Other | 12,783 | 136 | 16,174 | 119 | ||||||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
Residential | 759 | 4 | 774 | 4 | ||||||||||||||||||||||||
Commercial | 403 | 5 | 5 | — | ||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 4,646 | 33 | 3,765 | 6 | ||||||||||||||||||||||||
Unsecured | 1,055 | 11 | 742 | 6 | ||||||||||||||||||||||||
Asset-based | 47 | — | 304 | — | ||||||||||||||||||||||||
Cash flow | 14,973 | — | — | — | ||||||||||||||||||||||||
Equipment finance | 4,581 | — | — | — | ||||||||||||||||||||||||
SBA | — | — | 919 | 10 | ||||||||||||||||||||||||
Consumer | 383 | 4 | 2,151 | 4 | ||||||||||||||||||||||||
With No Related Allowance Recorded: | ||||||||||||||||||||||||||||
Real estate mortgage: | ||||||||||||||||||||||||||||
Hospitality | $ | 7,836 | $ | — | $ | 2,971 | $ | — | ||||||||||||||||||||
SBA | 9,836 | — | 2,519 | — | ||||||||||||||||||||||||
Other | 24,219 | 80 | 23,549 | 63 | ||||||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
Residential | 20 | — | — | — | ||||||||||||||||||||||||
Commercial | 7,457 | 271 | 5,491 | 25 | ||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 3,324 | 48 | 4,861 | 6 | ||||||||||||||||||||||||
Unsecured | 519 | 1 | 326 | — | ||||||||||||||||||||||||
Asset-based | 4,111 | — | — | — | ||||||||||||||||||||||||
Cash flow | 198 | — | — | — | ||||||||||||||||||||||||
Equipment finance | 7,537 | — | 220 | — | ||||||||||||||||||||||||
SBA | 3,128 | 45 | 3,132 | 2 | ||||||||||||||||||||||||
Consumer | 3,345 | — | 251 | 1 | ||||||||||||||||||||||||
Total Non-PCI Loans and Leases With and Without an Allowance Recorded: | ||||||||||||||||||||||||||||
Real estate mortgage | $ | 56,604 | $ | 235 | $ | 51,963 | $ | 217 | ||||||||||||||||||||
Real estate construction | 8,639 | 280 | 6,270 | 29 | ||||||||||||||||||||||||
Commercial | 44,119 | 138 | 14,269 | 30 | ||||||||||||||||||||||||
Consumer | 3,728 | 4 | 2,402 | 5 | ||||||||||||||||||||||||
Total | $ | 113,090 | $ | 657 | $ | 74,904 | $ | 281 | ||||||||||||||||||||
_________________________ | ||||||||||||||||||||||||||||
-1 | For the loans and leases (excluding PCI loans) reported as impaired at March 31, 2015 and 2014, amounts were calculated based on the period of time such loans and leases were impaired during the reported period. | |||||||||||||||||||||||||||
Troubled debt restructurings are a result of rate reductions, term extensions, fee concessions, and debt forgiveness or a combination thereof. The following table presents new troubled debt restructurings of Non-PCI loans for the periods indicated: | ||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||
Troubled Debt Restructurings: | Number of Loans | Pre- Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | Number of Loans | Pre- Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | ||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real estate mortgage: | ||||||||||||||||||||||||||||
Other | 14 | $ | 6,074 | $ | 5,886 | 4 | $ | 2,515 | $ | 2,515 | ||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
Commercial | 1 | 2,610 | 2,610 | 2 | 4,927 | 4,927 | ||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 6 | 1,399 | 1,399 | 4 | 3,287 | 3,287 | ||||||||||||||||||||||
Unsecured | 1 | 195 | 195 | 2 | 38 | 38 | ||||||||||||||||||||||
Cash flow | 2 | 566 | 387 | — | — | — | ||||||||||||||||||||||
Equipment finance | 4 | 4,133 | 4,133 | — | — | — | ||||||||||||||||||||||
SBA | 1 | — | — | 1 | 238 | 238 | ||||||||||||||||||||||
Consumer | 1 | 91 | 91 | 1 | 124 | 124 | ||||||||||||||||||||||
Total | 30 | $ | 15,068 | $ | 14,701 | 14 | $ | 11,129 | $ | 11,129 | ||||||||||||||||||
The following table presents troubled debt restructurings that subsequently defaulted for the periods indicated: | ||||||||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||
Troubled Debt Restructurings | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||
That Subsequently Defaulted: | Loans | Investment(1) | Loans | Investment(1) | ||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real estate mortgage - Other | 2 | $ | 1,519 | — | $ | — | ||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 1 | 385 | 2 | 559 | ||||||||||||||||||||||||
Unsecured | — | — | 1 | 21 | ||||||||||||||||||||||||
Asset-based | — | — | 1 | 301 | ||||||||||||||||||||||||
Total | 3 | $ | 1,904 | -2 | 4 | $ | 881 | -3 | ||||||||||||||||||||
_________________________ | ||||||||||||||||||||||||||||
-1 | The population of defaulted restructured loans for the period indicated includes only those loans restructured during the preceding 12-month period. The table excludes defaulted troubled restructurings in those classes for which the recorded investment was zero at the end of the period. | |||||||||||||||||||||||||||
-2 | Represents the balance at March 31, 2015, and is net of charge-offs of $772,000. | |||||||||||||||||||||||||||
-3 | Represents the balance at March 31, 2014, and there were no charge-offs. | |||||||||||||||||||||||||||
Purchased Credit Impaired (PCI) Loans | ||||||||||||||||||||||||||||
The following table reflects the PCI loans by portfolio segment as of the dates indicated: | ||||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Real estate mortgage | $ | 268,777 | $ | 299,660 | ||||||||||||||||||||||||
Real estate construction | 2,540 | 7,743 | ||||||||||||||||||||||||||
Commercial | 31,185 | 32,904 | ||||||||||||||||||||||||||
Consumer | 326 | 332 | ||||||||||||||||||||||||||
Total gross PCI loans | 302,828 | 340,639 | ||||||||||||||||||||||||||
Less: | ||||||||||||||||||||||||||||
Discount | (48,543 | ) | (49,848 | ) | ||||||||||||||||||||||||
Allowance for loan losses | (12,698 | ) | (13,999 | ) | ||||||||||||||||||||||||
Total net PCI loans | $ | 241,587 | $ | 276,792 | ||||||||||||||||||||||||
The following table summarizes the changes in the carrying amount of PCI loans and accretable yield on those loans for the period indicated: | ||||||||||||||||||||||||||||
Carrying Amount | Accretable Yield | |||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Balance, December 31, 2014 | $ | 276,792 | $ | (106,856 | ) | |||||||||||||||||||||||
Accretion | 10,183 | 10,183 | ||||||||||||||||||||||||||
Payments received | (46,121 | ) | — | |||||||||||||||||||||||||
Increase in expected cash flows, net | — | (6,190 | ) | |||||||||||||||||||||||||
Negative provision for credit losses | 733 | — | ||||||||||||||||||||||||||
Balance, March 31, 2015 | $ | 241,587 | $ | (102,863 | ) | |||||||||||||||||||||||
The following table presents PCI loans by credit risk rating categories and portfolio segment as of the dates indicated. Nonclassified loans are those with a credit risk rating of either pass or special mention, while classified loans are those with a credit risk rating of either substandard or doubtful. | ||||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||||||||
Classified | Nonclassified | Total | Classified | Nonclassified | Total | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Real estate mortgage | $ | 77,548 | $ | 148,902 | $ | 226,450 | $ | 101,161 | $ | 155,281 | $ | 256,442 | ||||||||||||||||
Real estate construction | 1,888 | — | 1,888 | 3,901 | 3,010 | 6,911 | ||||||||||||||||||||||
Commercial | 25,476 | 188 | 25,664 | 26,942 | 212 | 27,154 | ||||||||||||||||||||||
Consumer | 283 | — | 283 | 284 | — | 284 | ||||||||||||||||||||||
Total PCI loans | $ | 105,195 | $ | 149,090 | $ | 254,285 | $ | 132,288 | $ | 158,503 | $ | 290,791 | ||||||||||||||||
In addition to our internal risk rating process, our federal and state banking regulators, as an integral part of their examination process, periodically review the Company’s loan risk rating classifications. Our regulators may require the Company to recognize rating downgrades based on their judgments related to information available to them at the time of their examinations. |
Foreclosed_Assets_Foreclosed_A
Foreclosed Assets Foreclosed Assets (Notes) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Other Real Estate Owned Net Covered and NonCovered Including Foreclosed Assets [Abstract] | ||||||||
Other Real Estate Owned and Foreclosed Assets | Note 7. Foreclosed Assets | |||||||
The following table summarizes foreclosed assets at the dates indicated: | ||||||||
Property Type: | 31-Mar-15 | 31-Dec-14 | ||||||
(In thousands) | ||||||||
Commercial real estate | $ | 1,036 | $ | 2,449 | ||||
Construction and land development | 18,942 | 24,759 | ||||||
Multi‑family | 4,964 | 4,823 | ||||||
Single family residence | 3,253 | 3,392 | ||||||
Total other real estate owned, net | 28,195 | 35,423 | ||||||
Other foreclosed assets | 7,745 | 8,298 | ||||||
Total foreclosed assets, net(1) | $ | 35,940 | $ | 43,721 | ||||
_________________________ | ||||||||
-1 | As of March 31, 2015 and December 31, 2014 , the amounts of covered foreclosed assets were $8.1 million and $9.3 million. | |||||||
The following table presents the changes in foreclosed assets, net of the valuation allowance, for the period indicated: | ||||||||
Foreclosed Assets | ||||||||
(In thousands) | ||||||||
Balance, December 31, 2014 | $ | 43,721 | ||||||
Foreclosures | 394 | |||||||
Provision for losses | (124 | ) | ||||||
Reductions related to sales | (8,051 | ) | ||||||
Balance, March 31, 2015 | $ | 35,940 | ||||||
FDIC_Loss_Sharing_Asset_FDIC_L
FDIC Loss Sharing Asset FDIC Loss Sharing Asset (Notes) | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
FDIC Loss-Sharing Arrangements [Abstract] | ||||||||||||||||||||
FDIC Loss Sharing Asset Disclosure | Note 8. FDIC Loss Sharing Asset | |||||||||||||||||||
We are a party to four loss sharing agreements with the FDIC. Such agreements cover a substantial portion of losses incurred on acquired covered loans and other real estate owned. The loss sharing agreements relate to the acquisitions of: (1) Affinity Bank ("Affinity") in August 2009, (2) Los Padres Bank ("Los Padres") in August 2010, (3) Western Commercial Bank ("Western Commercial") in connection with the May 2013 FCAL acquisition, and (4) San Luis Trust Bank ("San Luis") in connection with the May 2013 First California Financial Group, Inc. ("FCAL") acquisition. Generally, under the terms of the loss sharing agreements, the FDIC is responsible for 80% of losses in connection with covered assets and is entitled to receive 80% of loss recoveries on the covered assets during the applicable contractual periods. The loss sharing provisions for the Affinity Bank non-single family covered assets expired in the third quarter of 2014; accordingly, further activity will be limited only to recoveries through the third quarter of 2017 for assets covered by this loss sharing agreement. | ||||||||||||||||||||
Both the Western Commercial and San Luis loss sharing agreements contain true-up provisions, under which we will owe the FDIC amounts at the end of the loss sharing agreements based on the performance of the covered assets. The true-up liability is included in "Accrued interest payable and other liabilities" in the condensed consolidated balance sheets. | ||||||||||||||||||||
The following table presents information about the composition of the FDIC loss sharing asset, the true‑up liability, and the non‑single family and the single family covered assets as of the date indicated: | ||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||
Affinity Bank | Los Padres Bank | Western Commercial Bank | San Luis Trust Bank | Total | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
FDIC loss sharing asset | $ | 140 | $ | 8,161 | $ | 710 | $ | 7,521 | $ | 16,532 | ||||||||||
True‑up liability | N/A | N/A | $ | 1,773 | $ | 5,517 | $ | 7,290 | ||||||||||||
Non-single family covered assets(1) | $ | 105,614 | $ | 73,072 | $ | 8,799 | $ | 26,001 | $ | 213,486 | ||||||||||
Single family covered assets | $ | 10,932 | $ | 55,447 | N/A | $ | 29,101 | $ | 95,480 | |||||||||||
Loss sharing expiration dates: | ||||||||||||||||||||
Non‑single family | 3rd Quarter 2014 | 3rd Quarter 2015 | 4th Quarter 2015 | 1st Quarter 2016 | ||||||||||||||||
Single family | 3rd Quarter 2019 | 3rd Quarter 2020 | N/A | 1st Quarter 2021 | ||||||||||||||||
Loss recovery expiration dates: | ||||||||||||||||||||
Non‑single family | 3rd Quarter 2017 | 3rd Quarter 2018 | 4th Quarter 2018 | 1st Quarter 2019 | ||||||||||||||||
Single family | 3rd Quarter 2019 | 3rd Quarter 2020 | N/A | 1st Quarter 2021 | ||||||||||||||||
_________________________ | ||||||||||||||||||||
-1 | Excludes securities |
Borrowings
Borrowings | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Borrowings Subordinated Debentures And Brokered Deposits [Abstract] | ||||||||||||||||||||
Borrowings, Subordinated Debentures and Brokered Deposit | Note 9. Borrowings, Subordinated Debentures and Brokered Deposits | |||||||||||||||||||
Borrowings | ||||||||||||||||||||
The following table summarizes our borrowings as of the dates indicated: | ||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||
Amount | Rate | Amount | Rate | |||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Non‑recourse debt | $ | 3,156 | 6.34 | % | $ | 3,402 | 6.43 | % | ||||||||||||
FHLB overnight advances | 615,000 | 0.24 | % | 380,000 | 0.27 | % | ||||||||||||||
Total borrowings | $ | 618,156 | $ | 383,402 | ||||||||||||||||
The non‑recourse debt represents the payment stream of certain equipment leases sold to third parties. The debt is secured by the equipment in the leases and all interest rates are fixed. As of March 31, 2015, this debt had a weighted average remaining maturity of 2.5 years. | ||||||||||||||||||||
PacWest has an unsecured, variable-rate revolving line of credit in the amount of $75.0 million with an expiration date of September 30, 2015. This borrowing facility provides additional available liquidity to the Company. As of March 31, 2015 and December 31, 2014, there were no balances outstanding. | ||||||||||||||||||||
The Bank has established secured and unsecured lines of credit. We may borrow funds from time to time on a term or overnight basis from the FHLB, the Federal Reserve Bank of San Francisco (“FRBSF”), or other financial institutions. | ||||||||||||||||||||
FHLB Secured Lines of Credit. The borrowing arrangement with the FHLB is based on an FHLB program collateralized by a blanket lien on certain qualifying loans in our loan portfolio which are not pledged to the FRBSF. As of March 31, 2015, our borrowing capacity under the FHLB secured borrowing lines was $2.4 billion. As of March 31, 2015 and December 31, 2014, the balances outstanding were $615.0 million and $380.0 million. | ||||||||||||||||||||
FRBSF Secured Line of Credit. The Bank has a secured line of credit with the FRBSF. As of March 31, 2015, the Bank had secured borrowing capacity of $1.5 billion collateralized by liens covering $2.1 billion of certain qualifying loans. As of March 31, 2015 and December 31, 2014, there were no balances outstanding. | ||||||||||||||||||||
Federal Funds Arrangements with Commercial Banks. As of March 31, 2015, the Bank had unsecured lines of credit of $80.0 million with 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, 2015 and December 31, 2014, there were no balances outstanding. | ||||||||||||||||||||
Subordinated Debentures | ||||||||||||||||||||
The following table summarizes the terms of each issuance of subordinated debentures outstanding as of the dates indicated: | ||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||
Date | Maturity | Rate Index | ||||||||||||||||||
Series | Amount | Rate | Amount | Rate | Issued | Date | (Quarterly Reset) | |||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Trust V | $ | 10,310 | 3.37 | % | $ | 10,310 | 3.33 | % | 8/15/03 | 9/17/33 | 3 month LIBOR + 3.10 | |||||||||
Trust VI | 10,310 | 3.32 | % | 10,310 | 3.29 | % | 9/3/03 | 9/15/33 | 3 month LIBOR + 3.05 | |||||||||||
Trust CII | 5,155 | 3.22 | % | 5,155 | 3.19 | % | 9/17/03 | 9/17/33 | 3 month LIBOR + 2.95 | |||||||||||
Trust VII | 61,856 | 3 | % | 61,856 | 2.98 | % | 2/5/04 | 4/23/34 | 3 month LIBOR + 2.75 | |||||||||||
Trust CIII | 20,619 | 1.96 | % | 20,619 | 1.93 | % | 8/15/05 | 9/15/35 | 3 month LIBOR + 1.69 | |||||||||||
Trust FCCI | 16,495 | 1.87 | % | 16,495 | 1.84 | % | 1/25/07 | 3/15/37 | 3 month LIBOR + 1.60 | |||||||||||
Trust FCBI | 10,310 | 1.82 | % | 10,310 | 1.79 | % | 9/30/05 | 12/15/35 | 3 month LIBOR + 1.55 | |||||||||||
Trust CS 2005-1 (1) | 82,475 | 2.22 | % | 82,475 | 2.19 | % | 11/21/05 | 12/15/35 | 3 month LIBOR + 1.95 | |||||||||||
Trust CS 2005-2 (1) | 128,866 | 2.2 | % | 128,866 | 2.18 | % | 12/14/05 | 1/30/36 | 3 month LIBOR + 1.95 | |||||||||||
Trust CS 2006-1 (1) | 51,545 | 2.2 | % | 51,545 | 2.18 | % | 2/22/06 | 4/30/36 | 3 month LIBOR + 1.95 | |||||||||||
Trust CS 2006-2 (1) | 51,550 | 2.2 | % | 51,550 | 2.18 | % | 9/27/06 | 10/30/36 | 3 month LIBOR + 1.95 | |||||||||||
Trust CS 2006-3 (1)(3) | 27,651 | 2.1 | % | 31,188 | 2.14 | % | 9/29/06 | 10/30/36 | 3 month EURIBOR + 2.05 | |||||||||||
Trust CS 2006-4 (1) | 16,470 | 2.2 | % | 16,470 | 2.18 | % | 12/5/06 | 1/30/37 | 3 month LIBOR + 1.95 | |||||||||||
Trust CS 2006-5 (1) | 6,650 | 2.2 | % | 6,650 | 2.18 | % | 12/19/06 | 1/30/37 | 3 month LIBOR + 1.95 | |||||||||||
Trust CS 2007-2 (1) | 39,177 | 2.2 | % | 39,177 | 2.18 | % | 6/13/07 | 7/30/37 | 3 month LIBOR + 1.95 | |||||||||||
Gross subordinated debentures | 539,439 | 542,976 | ||||||||||||||||||
Unamortized discount (2) | (107,991 | ) | (109,393 | ) | ||||||||||||||||
Net subordinated debentures | $ | 431,448 | $ | 433,583 | ||||||||||||||||
___________________ | ||||||||||||||||||||
-1 | Acquired in the CapitalSource Inc. merger. | |||||||||||||||||||
-2 | Amount represents the fair value adjustment on trust preferred securities assumed in the CapitalSource Inc. and FCAL acquisitions. | |||||||||||||||||||
-3 | Denomination is in Euros with a value of €25.8 million. | |||||||||||||||||||
Interest payments made by the Company on subordinated debentures are considered dividend payments under the Board of Governors of the Federal Reserve System (“FRB”) regulations. Bank holding companies, such as PacWest, are required to notify the FRB prior to declaring and paying a dividend to stockholders during any period in which quarterly and/or cumulative twelve‑month net earnings are insufficient to fund the dividend amount, among other requirements. | ||||||||||||||||||||
Brokered Time Deposits | ||||||||||||||||||||
Brokered time deposits totaled $814.9 million and $636.7 million at March 31, 2015 and December 31, 2014. During the first quarter of 2015, the Company added $178.2 million of brokered time deposits. Brokered time deposits under the Certificate of Deposit Account Registry Service Program ("CDARS Program") totaled $46.5 million and $44.0 million at March 31, 2015 and December 31, 2014. The CDARS Program represents deposits that are participated with other FDIC‑insured financial institutions as a means to provide FDIC deposit insurance coverage for the full amount of our customers’ deposits. |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||
Commitments and Contingencies | Note 10. Commitments and Contingencies | |||||||
Lending Commitments | ||||||||
The Bank 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, standby letters of credit, and commitments to purchase equipment being acquired for lease to others. 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 the Company has in particular classes of financial instruments. | ||||||||
The following table presents a summary of the financial instruments described above as of the dates indicated: | ||||||||
31-Mar-15 | 31-Dec-14 | |||||||
(In thousands) | ||||||||
Loan commitments to extend credit | $ | 2,122,749 | $ | 1,921,067 | ||||
Standby letters of credit | 97,540 | 88,495 | ||||||
Commitments to purchase equipment being acquired for lease to others | 23,535 | 12,839 | ||||||
$ | 2,243,824 | $ | 2,022,401 | |||||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. 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. | ||||||||
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 with us under these arrangements. | ||||||||
In addition, the Company has investments in low income housing project partnerships, which provide the Company income tax credits, and in a few small business investment companies. The investments call for capital contributions up to an amount specified in the partnership agreements. As of March 31, 2015 and December 31, 2014, the Company had commitments to contribute capital to these entities totaling $13.4 million and $11.0 million. In connection with equity investments added from the CapitalSource Inc. merger, we had commitments to contribute up to an additional $2.8 million and $2.9 million to 11 private equity funds at March 31, 2015 and December 31, 2014. | ||||||||
Legal Matters | ||||||||
In the ordinary course of our business, we are 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 information currently available to us, any resulting liability, in addition to amounts already accrued, would not have a material adverse effect on the Company’s financial statements or operations. |
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||
Fair Value Measurements | Note 11. Fair Value Measurements | |||||||||||||||||||
ASC Topic 820, “Fair Value Measurement,” defines fair value, establishes a framework for measuring fair value including a three‑level valuation hierarchy, and expands disclosures about fair value measurements. Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date reflecting assumptions that a market participant would use when pricing an asset or liability. The hierarchy uses three levels of inputs to measure the fair value of assets and liabilities as follows: | ||||||||||||||||||||
• | Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets. | |||||||||||||||||||
• | Level 2: Observable inputs other than Level 1, including quoted prices for similar assets and liabilities in active markets, quoted prices in less active markets, or other observable inputs that can be corroborated by observable market data, either directly or indirectly, for substantially the full term of the financial instrument. This category generally includes government agency and government‑sponsored enterprise securities. | |||||||||||||||||||
• | Level 3: Inputs to a valuation methodology that are unobservable, supported by little or no market activity, and significant to the fair value measurement. These valuation methodologies generally include pricing models, discounted cash flow models, or a determination of fair value that requires significant management judgment or estimation. This category also includes observable inputs from a pricing service not corroborated by observable market data, and includes our covered private label CMOs. | |||||||||||||||||||
We use fair value to measure certain assets and liabilities on a recurring basis, primarily securities available‑for‑sale and derivatives. 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 impaired loans and other real estate owned and also to record impairment on certain assets, such as goodwill, core deposit intangibles, and other long‑lived assets. | ||||||||||||||||||||
The following tables present information on the assets measured and recorded at fair value on a recurring basis as of the dates indicated: | ||||||||||||||||||||
Fair Value Measurements as of | ||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||
Measured on a Recurring Basis: | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Securities available‑for‑sale: | ||||||||||||||||||||
Government agency and government‑sponsored enterprise | ||||||||||||||||||||
pass-through securities | $ | 458,892 | $ | — | $ | 458,892 | $ | — | ||||||||||||
Government agency and government‑sponsored enterprise | ||||||||||||||||||||
collateralized mortgage obligations | 276,224 | — | 276,224 | — | ||||||||||||||||
Covered private label CMOs | 33,444 | — | — | 33,444 | ||||||||||||||||
Other private label CMOs | 9,650 | — | 9,650 | — | ||||||||||||||||
Municipal securities | 592,853 | — | 592,853 | — | ||||||||||||||||
Corporate debt securities | 47,745 | — | 47,745 | — | ||||||||||||||||
Collateralized loan obligations | 113,805 | — | 113,805 | — | ||||||||||||||||
Government‑sponsored enterprise debt securities | 37,405 | — | 37,405 | — | ||||||||||||||||
Other securities | 25,391 | 524 | 24,867 | — | ||||||||||||||||
Total securities available-for-sale | 1,595,409 | 524 | 1,561,441 | 33,444 | ||||||||||||||||
Derivative assets | 9,749 | — | 9,749 | — | ||||||||||||||||
Total recurring assets | $ | 1,605,158 | $ | 524 | $ | 1,571,190 | $ | 33,444 | ||||||||||||
Fair Value Measurements as of | ||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Measured on a Recurring Basis: | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Securities available‑for‑sale: | ||||||||||||||||||||
Government agency and government‑sponsored enterprise | ||||||||||||||||||||
pass-through securities | $ | 535,672 | $ | — | $ | 535,672 | $ | — | ||||||||||||
Government agency and government‑sponsored enterprise | ||||||||||||||||||||
collateralized mortgage obligations | 277,946 | — | 277,946 | — | ||||||||||||||||
Covered private label CMOs | 33,947 | — | — | 33,947 | ||||||||||||||||
Other private label CMOs | 10,914 | — | 10,914 | — | ||||||||||||||||
Municipal securities | 536,116 | — | 536,116 | — | ||||||||||||||||
Corporate debt securities | 110,109 | — | 110,109 | — | ||||||||||||||||
Government‑sponsored enterprise debt securities | 36,757 | — | 36,757 | — | ||||||||||||||||
Other securities | 25,716 | 519 | 25,197 | — | ||||||||||||||||
Total securities available-for-sale | 1,567,177 | 519 | 1,532,711 | 33,947 | ||||||||||||||||
Derivative assets | 5,234 | — | 5,234 | — | ||||||||||||||||
Total recurring assets | $ | 1,572,411 | $ | 519 | $ | 1,537,945 | $ | 33,947 | ||||||||||||
Derivative liabilities | $ | 118 | $ | — | $ | 118 | $ | — | ||||||||||||
There were no transfers of assets either between Level 1 and Level 2 nor in or out of Level 3 of the fair value hierarchy for assets measured on a recurring basis during the three months ended March 31, 2015. | ||||||||||||||||||||
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 covered private label CMOs measured at fair value on a recurring basis as of March 31, 2015: | ||||||||||||||||||||
Covered Private Label CMOs | ||||||||||||||||||||
Unobservable Inputs: | Range of Inputs | Weighted Average Input | ||||||||||||||||||
Voluntary annual prepayment speeds | 0% - 34.4% | 5.70% | ||||||||||||||||||
Annual default rates | 0% - 42.7% | 2.90% | ||||||||||||||||||
Loss severity rates | 0% - 71.2% | 30.20% | ||||||||||||||||||
Discount rates | 0% - 22.6% | 5.60% | ||||||||||||||||||
The following table summarizes activity for assets measured at fair value on a recurring basis that are categorized as Level 3 for the period indicated: | ||||||||||||||||||||
Covered Private Label CMOs | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Balance, December 31, 2014 | $ | 33,947 | ||||||||||||||||||
Total realized in earnings | 154 | |||||||||||||||||||
Total unrealized loss in comprehensive income | (109 | ) | ||||||||||||||||||
Net settlements | (548 | ) | ||||||||||||||||||
Balance, March 31, 2015 | $ | 33,444 | ||||||||||||||||||
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, 2015 | ||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Measured on a Non‑Recurring Basis: | (In thousands) | |||||||||||||||||||
Impaired Non‑PCI loans | $ | 59,243 | $ | — | $ | 2,179 | $ | 57,064 | ||||||||||||
Other real estate owned | 782 | — | 782 | — | ||||||||||||||||
Total non-recurring | $ | 60,025 | $ | — | $ | 2,961 | $ | 57,064 | ||||||||||||
Fair Value Measurement as of | ||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Measured on a Non‑Recurring Basis: | (In thousands) | |||||||||||||||||||
Impaired Non‑PCI loans | $ | 42,693 | $ | — | $ | 2,366 | $ | 40,327 | ||||||||||||
Other real estate owned | 24,015 | — | 18,400 | 5,615 | ||||||||||||||||
Investments carried at cost | 566 | — | — | 566 | ||||||||||||||||
Total non-recurring | $ | 67,274 | $ | — | $ | 20,766 | $ | 46,508 | ||||||||||||
The following table presents losses recognized on assets measured on a nonrecurring basis for the period indicated: | ||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||
Loss on Assets Measured on a Non‑Recurring Basis: | (In thousands) | |||||||||||||||||||
Impaired Non‑PCI loans | $ | (9,192 | ) | |||||||||||||||||
Other real estate owned | (124 | ) | ||||||||||||||||||
Total net loss | $ | (9,316 | ) | |||||||||||||||||
The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis as of March 31, 2015: | ||||||||||||||||||||
Asset | Fair Value | Valuation Technique | Unobservable Inputs | Range | Weighted | |||||||||||||||
(In thousands) | Average | |||||||||||||||||||
Impaired Non-PCI loans | $ | 32,905 | Discounted cash flows | Discount rates | 2.75% - 10.46% | 6.73% | ||||||||||||||
24,159 | Appraisals | No discounts | ||||||||||||||||||
Total non-recurring Level 3 | $ | 57,064 | ||||||||||||||||||
ASC Topic 825, “Financial Instruments,” requires disclosure of the estimated fair value of certain financial instruments and the methods and significant assumptions used to estimate such fair values. Additionally, certain financial instruments and all nonfinancial instruments are excluded from the applicable disclosure requirements. | ||||||||||||||||||||
The following tables present a summary of the carrying values and estimated fair values of certain financial instruments as of the dates indicated: | ||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||
Carrying or | Estimated Fair Value | |||||||||||||||||||
Contract | ||||||||||||||||||||
Amount | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Financial Assets: | ||||||||||||||||||||
Cash and due from banks | $ | 140,873 | $ | 140,873 | $ | 140,873 | $ | — | $ | — | ||||||||||
Interest‑earning deposits in financial institutions | 250,981 | 250,981 | 250,981 | — | — | |||||||||||||||
Securities available‑for‑sale | 1,595,409 | 1,595,409 | 524 | 1,561,441 | 33,444 | |||||||||||||||
Investment in FHLB stock | 28,905 | 28,905 | — | 28,905 | — | |||||||||||||||
Investments carried at cost | 3,100 | 3,534 | — | — | 3,534 | |||||||||||||||
Investments accounted for under the equity method | 21,226 | 21,475 | — | — | 21,475 | |||||||||||||||
Loans and leases, net | 12,179,788 | 12,280,982 | — | 2,179 | 12,278,803 | |||||||||||||||
Derivative assets | 9,749 | 9,749 | — | 9,749 | — | |||||||||||||||
Financial Liabilities: | ||||||||||||||||||||
Deposits: | ||||||||||||||||||||
Demand, money market, interest checking, and savings deposits | 6,353,376 | 6,353,376 | — | 6,353,376 | — | |||||||||||||||
Time deposits | 5,580,799 | 5,584,088 | — | 5,584,088 | — | |||||||||||||||
Borrowings | 618,156 | 618,351 | 615,000 | 3,351 | — | |||||||||||||||
Subordinated debentures | 431,448 | 415,210 | — | 415,210 | — | |||||||||||||||
31-Dec-14 | ||||||||||||||||||||
Carrying or | Estimated Fair Value | |||||||||||||||||||
Contract | ||||||||||||||||||||
Amount | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Financial Assets: | ||||||||||||||||||||
Cash and due from banks | $ | 164,757 | $ | 164,757 | $ | 164,757 | $ | — | $ | — | ||||||||||
Interest‑earning deposits in financial institutions | 148,469 | 148,469 | 148,469 | — | — | |||||||||||||||
Securities available‑for‑sale | 1,567,177 | 1,567,177 | 519 | 1,532,711 | 33,947 | |||||||||||||||
Investment in FHLB stock | 40,609 | 40,609 | — | 40,609 | — | |||||||||||||||
Investments carried at cost | 3,691 | 3,691 | — | — | 3,691 | |||||||||||||||
Investments accounted for under the equity method | 21,461 | 21,700 | — | — | 21,700 | |||||||||||||||
Loans and leases, net | 11,797,977 | 11,757,951 | — | 2,366 | 11,755,585 | |||||||||||||||
Derivative assets | 5,234 | 5,234 | — | 5,234 | — | |||||||||||||||
Financial Liabilities: | ||||||||||||||||||||
Deposits: | ||||||||||||||||||||
Demand, money market, interest checking, and savings deposits | 6,256,190 | 6,256,190 | — | 6,256,190 | — | |||||||||||||||
Time deposits | 5,498,938 | 5,502,479 | — | 5,502,479 | — | |||||||||||||||
Borrowings | 383,402 | 383,539 | 380,000 | 3,539 | — | |||||||||||||||
Subordinated debentures | 433,583 | 417,657 | — | 417,657 | — | |||||||||||||||
Derivative liabilities | 118 | 118 | — | 118 | — | |||||||||||||||
The following is a description of the valuation methodologies used to measure our assets recorded at fair value (under ASC Topic 820, “Fair Value Measurement”) and for estimating fair value for financial instruments not recorded at fair value (under ASC Topic 825). | ||||||||||||||||||||
Cash and due from banks. The carrying amount is assumed to be the fair value because of the liquidity of these instruments. | ||||||||||||||||||||
Interest‑earning deposits in financial institutions. The carrying amount is assumed to be the fair value given the short‑term nature of these deposits. | ||||||||||||||||||||
Securities available‑for‑sale. Securities available‑for‑sale are measured and carried at fair value on a recurring basis. Unrealized gains and losses on available‑for‑sale securities are reported as a component of “Accumulated other comprehensive income” in the condensed consolidated balance sheets. See Note 5, Investment Securities, for further information on unrealized gains and losses on securities available‑for‑sale. | ||||||||||||||||||||
Fair value for securities categorized as Level 1, which are publicly traded securities, are based on readily available quoted prices. In determining the fair value of the securities categorized as Level 2, we obtain a report from a nationally recognized broker‑dealer detailing the fair value of each investment security we hold as of each reporting date. The broker‑dealer uses observable market information to value our securities, with the primary source being a nationally recognized pricing service. We review the market prices provided by the broker‑dealer for our securities for reasonableness based on our understanding of the marketplace and we consider any credit issues related to the securities. As we have not made any adjustments to the market quotes provided to us and they are based on observable market data, they have been categorized as Level 2 within the fair value hierarchy. | ||||||||||||||||||||
Our covered private label CMOs are categorized as Level 3 due in part to the inactive market for such securities. There is a wide range of prices quoted for private label CMOs among independent third party pricing services and this range reflects the significant judgment being exercised over the assumptions and variables that determine the pricing of such securities. We consider this subjectivity to be a significant unobservable input and have concluded that the covered private label CMOs should be categorized as a Level 3 measured asset. Our fair value estimate was based on prices provided to us by a nationally recognized pricing service which we also use to determine the fair value of the majority of our securities portfolio. We determined the reasonableness of the fair values by reviewing assumptions at the individual security level about prepayment, default expectations, estimated severity loss factors, and discount rates, all of which are not directly observable in the market. Significant changes in default expectations, severity loss factors, or discount rates, which occur in unison or in isolation, would result in different fair value measurements. | ||||||||||||||||||||
FHLB stock. Investments in FHLB stock are recorded at cost and measured for impairment quarterly. Ownership of FHLB stock is restricted to member banks and the securities do not have a readily determinable market value. Purchases and sales of these securities are at par value with the issuer. The fair value of investments in FHLB stock is equal to the carrying amount. | ||||||||||||||||||||
Non-PCI loans and leases. As Non-PCI loans and leases are not measured at fair value, the following discussion relates to estimating the fair value disclosures under ASC Topic 825. Fair values are estimated for portfolios of loans and leases with similar financial characteristics. Loans are segregated by type and further segmented into fixed and variable rate interest terms by credit risk categories. The fair value estimates do not take into consideration the value of the loan portfolio in the event the loans are sold outside the parameters of normal operating activities. The fair value of performing fixed-rate loans is estimating by discounting scheduled cash flows through the estimated maturity using estimated market prepayment speeds. The fair value of equipment leases is estimated by discounting scheduled lease and expected lease residual cash flows over their remaining term. The estimated market discount rates used for performing fixed-rate loans and equipment leases are current market rates for instruments with similar risk and similar terms. The fair value of performing variable-rate loans is estimated by discounting scheduled cash flows through the next repricing date. As these loans reprice frequently at market rates and the credit risk is not considered to be greater than normal, the market value is typically close to the carrying amount of these loans. These methods and assumptions are not based on the exit price concept of fair value. | ||||||||||||||||||||
Impaired Non‑PCI loans. Nonaccrual loans and performing restructured loans are considered impaired for reporting purposes and are measured and recorded at fair value on a non‑recurring basis. Nonaccrual Non‑PCI loans with an unpaid principal balance over $250,000 and all performing restructured loans are reviewed individually for the amount of impairment, if any. Nonaccrual Non‑PCI loans with a net book balance less than $250,000 may not be individually assessed for impairment but may instead be reserved for under the general reserve component of our allowance for credit losses. | ||||||||||||||||||||
To the extent a loan is collateral dependent, we measure such impaired loan based on the estimated fair value of the underlying collateral. The fair value of each loan’s collateral is generally based on estimated market prices from an independently prepared appraisal, which is then adjusted for the cost related to liquidating such collateral; such valuation inputs result in a nonrecurring fair value measurement that is categorized as a Level 2 measurement. The Level 2 measurement is based on appraisals obtained within the last 12 months and for which a charge‑off was recognized or a change in the specific valuation allowance was made during the three months ended March 31, 2015. | ||||||||||||||||||||
When adjustments are made to an appraised value to reflect various factors such as the age of the appraisal or known changes in the market or the collateral, such valuation inputs are considered unobservable and the fair value measurement is categorized as a Level 3 measurement. The impaired loans categorized as Level 3 also include unsecured loans and other secured loans whose fair values are based significantly on unobservable inputs such as the strength of a guarantor, including an SBA government guarantee, cash flows discounted at the effective loan rate, and management’s judgment. | ||||||||||||||||||||
The impaired Non‑PCI loan balances shown in the tables on page 33 as measured on a non-recurring basis represent those nonaccrual and restructured loans for which impairment was recognized during the three months ended March 31, 2015. The amounts shown as net losses include the impairment recognized during the three months ended March 31, 2015, for the loan balances shown. Of the $139.3 million of nonaccrual Non-PCI loans at March 31, 2015, $24.5 million were written down to their collateral fair values through charge‑offs during the three months ended March 31, 2015. | ||||||||||||||||||||
Investments that do not have readily determinable fair values. Other investments accounted for under the cost or equity methods of accounting are carried at fair value on a nonrecurring basis to the extent that they are determined to be other-than-temporarily impaired during the period. As there is rarely an observable price or market for such investments, we determine fair value using internally developed models. Our models utilize industry valuation benchmarks, such as multiples of net revenue or earnings before interest, taxes and amortization ("EBITA"), to determine a value for the underlying enterprise. We may also reduce the value determined by the model due to illiquidity or other investee-specific characteristics which may affect the fair value. Significant decreases to these valuation benchmarks would result in significant decreases in the estimated fair values. We reduce this value by the value of debt outstanding to arrive at an estimated equity value of the enterprise. When an external event such as a purchase transaction, public offering or subsequent equity sale occurs, the pricing indicated by the external event is used to corroborate our internal valuation. Fair value measurements related to these investments are typically classified within Level 3 of the fair value hierarchy. | ||||||||||||||||||||
Other real estate owned ("OREO"). The fair value of foreclosed real estate is generally based on the lower of estimated market prices from independently prepared current appraisals or executed sales contracts with buyers, less estimated costs to sell; such valuation inputs result in a fair value measurement that is categorized as a Level 2 measurement on a nonrecurring basis. As a matter of policy, appraisals are required annually and may be updated more frequently as circumstances require in the opinion of management. The Level 2 measurement for OREO is based on appraisals obtained within the last 12 months and for which a write‑down was recognized during the three months ended March 31, 2015. | ||||||||||||||||||||
When a current appraised value is not available or management determines the fair value of the collateral is determined to be less than the appraised value as a result of known changes in the market or the collateral and there is no observable market price, such valuation inputs result in a fair value measurement that is categorized as a Level 3 measurement. To the extent a purchase offer or reduced listing price represents a significant discount to an observable market price, such valuation input would result in a fair value measurement that is also considered a Level 3 measurement. The OREO losses disclosed are write‑downs based on either a recent appraisal obtained after foreclosure or an accepted purchase offer by an independent third party received after foreclosure. | ||||||||||||||||||||
Deposits. Deposits are carried at historical cost. The fair value of deposits with no stated maturity, such as noninterest‑bearing demand deposits, interest checking, money market, and savings accounts, is equal to the amount payable on demand as of the balance sheet date and considered Level 2. The fair value of time deposits is based on the discounted value of contractual cash flows and considered Level 2. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities. No value has been separately assigned to the Company’s long‑term relationships with its deposit customers, such as a core deposit intangible. | ||||||||||||||||||||
Borrowings. Borrowings include overnight FHLB advances and other fixed‑rate term borrowings. Borrowings are carried at amortized cost. The fair value of overnight FHLB advances is equal to the carrying value and considered Level 1. The fair value of fixed‑rate borrowings is calculated by discounting scheduled cash flows through the estimated maturity dates or call dates, if applicable, using estimated market discount rates that reflect current rates offered for borrowings with similar remaining maturities and characteristics and are considered Level 2. | ||||||||||||||||||||
Subordinated debentures. Subordinated debentures are carried at amortized cost. The fair value of subordinated debentures with variable rates is determined using a market discount rate on the expected cash flows. | ||||||||||||||||||||
Derivative assets and liabilities. Derivatives are carried at fair value on a recurring basis and primarily relate to forward exchange contracts which we enter into to manage foreign exchange risk. Our derivatives are principally traded in over-the-counter markets where quoted market prices are not readily available. Instead, the fair value of derivatives is estimated using market observable inputs such as foreign exchange forward rates, interest rate yield curves, volatilities and basis spreads. We also consider counterparty credit risk in valuing our derivatives. We typically classify our derivatives in Level 2. | ||||||||||||||||||||
Commitments to extend credit. The majority of our commitments to extend credit carry current market interest rates if converted to loans. Because these commitments are generally unassignable by either the borrower or us, they only have value to the borrower and us. The estimated fair value approximates the recorded deferred fee amounts and is excluded from the table above because it is not material. | ||||||||||||||||||||
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 conservative 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, 2015, the amounts that will actually be realized or paid at settlement or maturity of the instruments could be significantly different. |
Earnings_Per_Share_Earnings_pe
Earnings Per Share Earnings per share (Notes) | 3 Months Ended | |||||||||||
Mar. 31, 2015 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Earnings Per Share | The following table presents the computations of basic and diluted net earnings per share for the periods indicated: | |||||||||||
Three Months Ended | ||||||||||||
31-Mar-15 | 31-Dec-14 | 31-Mar-14 | ||||||||||
(Dollars in thousands, except per share data) | ||||||||||||
Basic earnings per share: | ||||||||||||
Net earnings from continuing operations | $ | 73,079 | $ | 71,057 | $ | 25,905 | ||||||
Less: earnings allocated to unvested restricted stock(1) | (819 | ) | (810 | ) | (500 | ) | ||||||
Net earnings from continuing operations allocated to common shares | 72,260 | 70,247 | 25,405 | |||||||||
Net (loss) earnings from discontinued operations allocated to common shares | — | (57 | ) | (804 | ) | |||||||
Net earnings allocated to common shares | $ | 72,260 | $ | 70,190 | $ | 24,601 | ||||||
Weighted-average basic shares and unvested restricted stock outstanding | 103,035 | 103,045 | 45,799 | |||||||||
Less: weighted-average unvested restricted stock outstanding | (1,122 | ) | (1,132 | ) | (1,148 | ) | ||||||
Weighted-average basic shares outstanding | 101,913 | 101,913 | 44,651 | |||||||||
Basic earnings per share: | ||||||||||||
Net earnings from continuing operations | $ | 0.71 | $ | 0.69 | $ | 0.57 | ||||||
Net loss from discontinued operations | — | — | (0.02 | ) | ||||||||
Net earnings | $ | 0.71 | $ | 0.69 | $ | 0.55 | ||||||
Diluted earnings per share: | ||||||||||||
Net earnings from continuing operations allocated to common shares | $ | 72,260 | $ | 70,247 | $ | 25,405 | ||||||
Net (loss) earnings from discontinued operations allocated to common shares | — | (57 | ) | (804 | ) | |||||||
Net earnings allocated to common shares | $ | 72,260 | $ | 70,190 | $ | 24,601 | ||||||
Weighted-average basic shares outstanding | 101,913 | 101,913 | 44,651 | |||||||||
Diluted earnings per share: | ||||||||||||
Net earnings from continuing operations | $ | 0.71 | $ | 0.69 | $ | 0.57 | ||||||
Net loss from discontinued operations | — | — | (0.02 | ) | ||||||||
Net earnings | $ | 0.71 | $ | 0.69 | $ | 0.55 | ||||||
________________________ | ||||||||||||
-1 | Represents cash dividends paid to holders of unvested restricted stock, net of estimated forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any. |
Stock_Based_Compensation_Plans
Stock Based Compensation Plans (Notes) | 3 Months Ended |
Mar. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments | Note 13. Stock Based Compensation |
The Company’s 2003 Stock Incentive Plan, or the 2003 Plan, permits stock-based compensation awards to officers, directors, key employees and consultants. As of March 31, 2015, the 2003 Plan authorized grants of stock‑based compensation instruments to purchase or issue up to 19,686,565 shares of Company common stock, subject to adjustments provided by the 2003 Plan. The authorized amount includes 10,686,565 shares that were added to the 2003 Plan as a result of the CapitalSource Inc. merger. Such shares were available for grant under the former CapitalSource Inc. Equity Incentive Plan and remain available for: (a) former employees of CapitalSource Bank who remain employed with the Company, and (b) newly hired employees of the Company. As of March 31, 2015, there were 13,510,779 shares available for grant under the 2003 Plan, of which 10,082,099 shares related to those added from the CapitalSource Inc. merger. | |
Restricted Stock | |
At March 31, 2015, there were 1,129,445 shares of unvested time‑based restricted common stock outstanding. The awarded shares of time‑based restricted common stock vest over a service period of three to four years from the date of the grant. The time-based restricted common stock vests immediately upon the death of an employee. | |
Compensation expense related to time‑based restricted stock awards is based on the fair value of the underlying stock on the award date and is recognized over the vesting period using the straight‑line method. Restricted stock amortization totaled $3.1 million, $2.8 million, and $1.6 million for the three months ended March 31, 2015, December 31, 2014 and March 31, 2014. Such amounts are included in "Compensation expense" on the accompanying condensed consolidated statements of earnings. | |
The amount of unrecognized compensation expense related to all unvested restricted stock as of March 31, 2015 totaled $34.6 million. |
Business_Segment
Business Segment | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||
Segment Data | Note 14. Business Segments | |||||||||||||||
The Company’s reportable segments consist of “Community Banking," “National Lending,” and “Other.” The Community Banking and National Lending segments include all of the operations of Pacific Western Bank. The Other segment consists of holding company and non-bank subsidiary operations, and intercompany eliminations. | ||||||||||||||||
As a result of the CapitalSource Inc. merger, the Bank established the CapitalSource Division, which we also refer to as the National Lending segment. The National Lending segment includes the lending operations gained through the CapitalSource Inc. merger, Pacific Western Equipment Finance, and the CapitalSource Business Finance Group (formerly BFI Business Finance and First Community Financial). We reorganized our asset-based lending and leasing operations when we established the CapitalSource Division. | ||||||||||||||||
The CapitalSource Division lends throughout the United States, providing middle-market businesses asset-secured loans, equipment-secured loans, and cash flow loans and providing real estate investment firms real estate loans secured by various property types. The CapitalSource Division’s loan and lease origination efforts are conducted through offices located in Chevy Chase, Maryland; Los Angeles and San Jose, California; Phoenix, Arizona; St. Louis, Missouri; Denver, Colorado; Chicago, Illinois; New York, New York; and Midvale, Utah. | ||||||||||||||||
The Community Banking segment includes the operations of Pacific Western Bank, excluding the CapitalSource Division, and includes lending and deposit gathering activities conducted primarily through its California-based branch offices and the Bank’s treasury management function and corporate overhead. | ||||||||||||||||
The Other segment consists of holding company operations which result in expenses principally for compensation, facilities, professional services, interest on subordinated debentures, and the non-bank subsidiary operations including interest income from a loan portfolio and related loan servicing expense. | ||||||||||||||||
The accounting policies of the reported segments are the same as those of the Company described in Note 1, "Nature of Operations and Summary of Significant Accounting Policies," of our Form 10-K. Transactions between segments consist primarily of borrowed funds and expense allocations for interest, deposit gathering, corporate overhead and credit loss provisions. Intersegment interest expense is allocated from the Community Banking segment to the National Lending segment based upon National Lending’s average earning assets, net of a capital allocation, and the Bank’s total cost of deposits. The Community Banking segment further allocates to the National Lending segment noninterest expense for deposit gathering and maintenance costs and the Bank’s corporate overhead. The provision for credit losses is allocated based on actual charge‑offs for the period as well as net portfolio growth and credit quality trends. All costs associated with investing the Bank’s excess liquidity and acquisition, integration and reorganization costs are housed in the Community Banking segment. Noninterest income and noninterest expense, including lending and loan servicing activity, directly attributable to a segment are assigned to such segment. | ||||||||||||||||
The following tables present information regarding our business segments as of and for the periods indicated: | ||||||||||||||||
31-Mar-15 | ||||||||||||||||
Community | National | Consolidated | ||||||||||||||
Balance Sheet Data: | Banking | Lending | Other | Company | ||||||||||||
(In thousands) | ||||||||||||||||
Loans and leases, net of deferred fees | $ | 3,349,928 | $ | 8,898,843 | $ | 23,395 | $ | 12,272,166 | ||||||||
Allowance for loan and lease losses | (40,906 | ) | (51,472 | ) | — | (92,378 | ) | |||||||||
Total loans and leases, net | $ | 3,309,022 | $ | 8,847,371 | $ | 23,395 | $ | 12,179,788 | ||||||||
Goodwill(1) | $ | 333,979 | $ | 1,394,401 | $ | — | $ | 1,728,380 | ||||||||
Core deposit and customer relationship intangibles, net | 14,918 | 785 | — | 15,703 | ||||||||||||
Total assets | 6,553,028 | 9,905,563 | 185,349 | 16,643,940 | ||||||||||||
Total deposits(2) | 12,252,851 | 35,847 | (354,523 | ) | 11,934,175 | |||||||||||
________________________ | ||||||||||||||||
-1 | The increase in goodwill for the Community Banking segment and National Lending segment compared to March 31, 2014, was due primarily to $1.5 billion from the CapitalSource Inc. merger. | |||||||||||||||
-2 | The negative balance for total deposits in the “Other” segment represents the elimination of holding company cash held in deposit accounts at the Bank. | |||||||||||||||
31-Mar-14 | ||||||||||||||||
Community | National | Consolidated | ||||||||||||||
Balance Sheet Data: | Banking | Lending | Other | Company | ||||||||||||
(In thousands) | ||||||||||||||||
Loans and leases, net of deferred fees | $ | 3,707,308 | $ | 453,759 | $ | — | $ | 4,161,067 | ||||||||
Allowance for loan and lease losses | (74,833 | ) | (6,347 | ) | — | (81,180 | ) | |||||||||
Total loans and leases, net | $ | 3,632,475 | $ | 447,412 | $ | — | $ | 4,079,887 | ||||||||
Goodwill | $ | 183,065 | $ | 25,678 | $ | — | $ | 208,743 | ||||||||
Core deposit and customer relationship intangibles, net | 14,139 | 1,745 | — | 15,884 | ||||||||||||
Total assets | 5,990,162 | 517,126 | 10,565 | 6,517,853 | ||||||||||||
Total deposits(1) | 5,415,691 | — | (46,283 | ) | 5,369,408 | |||||||||||
________________________ | ||||||||||||||||
-1 | The negative balance for total deposits in the “Other” segment represents the elimination of holding company cash held in deposit accounts at the Bank. | |||||||||||||||
Three Months Ended March 31, 2015 | ||||||||||||||||
Community | National | Consolidated | ||||||||||||||
Results of Operations: | Banking | Lending | Other | Company | ||||||||||||
(In thousands) | ||||||||||||||||
Interest income | $ | 62,956 | $ | 151,219 | $ | 139 | $ | 214,314 | ||||||||
Interest expense | (10,661 | ) | (53 | ) | (4,525 | ) | (15,239 | ) | ||||||||
Intersegment interest income (expense) | 6,721 | (6,721 | ) | — | — | |||||||||||
Net interest income (expense) | 59,016 | 144,445 | (4,386 | ) | 199,075 | |||||||||||
Negative provision (provision) for credit losses | 8,064 | (24,406 | ) | (92 | ) | (16,434 | ) | |||||||||
Gain on securities | 3,275 | — | — | 3,275 | ||||||||||||
FDIC loss sharing expense | (4,399 | ) | — | — | (4,399 | ) | ||||||||||
Other noninterest income | 9,575 | 5,142 | 7,278 | 21,995 | ||||||||||||
Total noninterest income | 8,451 | 5,142 | 7,278 | 20,871 | ||||||||||||
Foreclosed assets (expense) income, net | (44 | ) | (61 | ) | (231 | ) | (336 | ) | ||||||||
Intangible asset amortization | (1,389 | ) | (112 | ) | — | (1,501 | ) | |||||||||
Acquisition, integration and reorganization costs | (1,890 | ) | — | (110 | ) | (2,000 | ) | |||||||||
Other noninterest expense | (55,205 | ) | (22,837 | ) | (2,481 | ) | (80,523 | ) | ||||||||
Total noninterest expense | (58,528 | ) | (23,010 | ) | (2,822 | ) | (84,360 | ) | ||||||||
Intersegment noninterest income (expense) | 26,563 | (26,563 | ) | — | — | |||||||||||
Total noninterest expense - adjusted | (31,965 | ) | (49,573 | ) | (2,822 | ) | (84,360 | ) | ||||||||
Earnings (loss) before taxes | 43,566 | 75,608 | (22 | ) | 119,152 | |||||||||||
Income tax (expense) benefit | (16,873 | ) | (29,282 | ) | 82 | (46,073 | ) | |||||||||
Net earnings (loss) | $ | 26,693 | $ | 46,326 | $ | 60 | $ | 73,079 | ||||||||
Three Months Ended December 31, 2014 | ||||||||||||||||
Community | National | Consolidated | ||||||||||||||
Results of Operations: | Banking | Lending | Other | Company | ||||||||||||
(In thousands) | ||||||||||||||||
Interest income | $ | 64,967 | $ | 144,546 | $ | 183 | $ | 209,696 | ||||||||
Interest expense | (10,069 | ) | (46 | ) | (4,598 | ) | (14,713 | ) | ||||||||
Intersegment interest income (expense) | 6,173 | (6,173 | ) | — | — | |||||||||||
Net interest income (expense) | 61,071 | 138,327 | (4,415 | ) | 194,983 | |||||||||||
Negative provision (provision) for credit losses | 9,753 | (11,816 | ) | — | (2,063 | ) | ||||||||||
FDIC loss sharing expense | (4,360 | ) | — | — | (4,360 | ) | ||||||||||
Other noninterest income | 7,025 | 7,330 | 2,708 | 17,063 | ||||||||||||
Total noninterest (expense) income | 2,665 | 7,330 | 2,708 | 12,703 | ||||||||||||
Foreclosed assets expense, net | (2,286 | ) | (18 | ) | 366 | (1,938 | ) | |||||||||
Intangible asset amortization | (1,507 | ) | (112 | ) | — | (1,619 | ) | |||||||||
Acquisition, integration and reorganization costs | (7,381 | ) | — | — | (7,381 | ) | ||||||||||
Other noninterest expense | (51,605 | ) | (24,526 | ) | (4,236 | ) | (80,367 | ) | ||||||||
Total noninterest expense | (62,779 | ) | (24,656 | ) | (3,870 | ) | (91,305 | ) | ||||||||
Intersegment noninterest income (expense) | 21,953 | (21,953 | ) | — | — | |||||||||||
Total noninterest expense - adjusted | (40,826 | ) | (46,609 | ) | (3,870 | ) | (91,305 | ) | ||||||||
Earnings (loss) from continuing operations before taxes | 32,663 | 87,232 | (5,577 | ) | 114,318 | |||||||||||
Income tax (expense) benefit | (13,651 | ) | (34,781 | ) | 5,171 | (43,261 | ) | |||||||||
Net earnings (loss) from continuing operations | 19,012 | 52,451 | (406 | ) | 71,057 | |||||||||||
Loss from discontinued operations before taxes | (105 | ) | — | — | (105 | ) | ||||||||||
Income tax benefit | 47 | — | — | 47 | ||||||||||||
Net loss from discontinued operations | (58 | ) | — | — | (58 | ) | ||||||||||
Net earnings (loss) | $ | 18,954 | $ | 52,451 | $ | (406 | ) | $ | 70,999 | |||||||
Three Months Ended March 31, 2014 | ||||||||||||||||
Community | National | Consolidated | ||||||||||||||
Results of Operations: | Banking | Lending | Other | Company | ||||||||||||
(In thousands) | ||||||||||||||||
Interest income | $ | 77,595 | $ | 10,765 | $ | — | $ | 88,360 | ||||||||
Interest Expense | (1,227 | ) | (77 | ) | (1,041 | ) | (2,345 | ) | ||||||||
Intersegment interest income (expense) | 222 | (222 | ) | — | — | |||||||||||
Net interest income (expense) | 76,590 | 10,466 | (1,041 | ) | 86,015 | |||||||||||
Negative provision (provision) for credit losses | 826 | (182 | ) | — | 644 | |||||||||||
Gain on securities | 4,752 | — | — | 4,752 | ||||||||||||
FDIC loss sharing expense, net | (11,430 | ) | — | — | (11,430 | ) | ||||||||||
Other noninterest income | 6,897 | 4,445 | 27 | 11,369 | ||||||||||||
Total noninterest income | 219 | 4,445 | 27 | 4,691 | ||||||||||||
Foreclosed assets expense, net | 1,861 | — | — | 1,861 | ||||||||||||
Intangible asset amortization | (1,191 | ) | (173 | ) | — | (1,364 | ) | |||||||||
Acquisition, integration and reorganization costs | (2,200 | ) | — | — | (2,200 | ) | ||||||||||
Other noninterest expense | (40,285 | ) | (6,573 | ) | (1,603 | ) | (48,461 | ) | ||||||||
Total noninterest expense | (41,815 | ) | (6,746 | ) | (1,603 | ) | (50,164 | ) | ||||||||
Earnings (loss) from continuing operations before taxes | 35,820 | 7,983 | (2,617 | ) | 41,186 | |||||||||||
Income tax (expense) benefit | (13,039 | ) | (3,331 | ) | 1,089 | (15,281 | ) | |||||||||
Net earnings (loss) from continuing operations | 22,781 | 4,652 | (1,528 | ) | 25,905 | |||||||||||
Loss from discontinued operations before taxes | (1,413 | ) | — | — | (1,413 | ) | ||||||||||
Income tax benefit | 588 | — | — | 588 | ||||||||||||
Net loss from discontinued operations | (825 | ) | — | — | (825 | ) | ||||||||||
Net earnings (loss) | $ | 21,956 | $ | 4,652 | $ | (1,528 | ) | $ | 25,080 | |||||||
Recently_Issued_Accounting_Sta
Recently Issued Accounting Standards (Notes) | 3 Months Ended |
Mar. 31, 2015 | |
Recently Issued Accounting Standards [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles | Note 15. Recently Issued Accounting Standards |
In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, "Revenue Recognition (Topic 606): Revenue from Contracts with Customers." ASU 2014-09 will be effective for annual and interim periods beginning after December 15, 2016. Early application is not permitted. ASU 2014-09 requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in GAAP when it becomes effective. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. | |
In June 2014, the FASB issued ASU 2014-12, "Compensation-Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period." ASU 2014-12 will be effective for annual and interim periods beginning after December 15, 2015. ASU 2014-12 applies to all reporting entities that grant their employees share-based payments in which the terms of the award provide for a performance target that affects vesting could be achieved after the requisite service period. That is the case when an employee is eligible to retire or otherwise terminate employment before the end of the period in which a performance target (for example, an initial public offering or a profitability target) could be achieved and still be eligible to vest in the award if and when the performance target is achieved. We do not currently have outstanding performance-based awards and, as a result, ASU 2014-12 would not impact our financial statements and its related disclosures. | |
In August 2014, the FASB issued ASU 2014-14, "Receivables - Troubled Debt Restructuring by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans Upon Foreclosure." ASU 2014-14 requires that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (1) the loan has a government guarantee that is not separable from the loan before foreclosure; (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim; and (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. ASU 2014-14 is effective for public business entities for reporting periods, including interim periods, beginning after December 15, 2014. ASU 2014-14 did not impact the Company's financial statements and related disclosures. | |
In January 2015, the FASB issued ASU 2015-01, "Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items," which eliminates the concept of extraordinary items from U.S. GAAP as part of its simplification initiative. Under ASU 2015-01, an entity will no longer separate out an extraordinary item from the results of ordinary operations and separately present this extraordinary item on its income statement, nor will related income tax and earnings-per-share data applicable to an extraordinary item need to be disclosed. Despite these simplifications, ASU 2015-01 does not affect disclosure guidance for events or transactions that are unusual in nature or infrequent in their occurrence. ASU 2015-01 is effective for annual periods beginning after December 15, 2015, and interim periods within those annual periods. The Company does not expect the effect of ASU 2015-01 to have a material impact on its financial statements and related disclosures. | |
In February 2015, the FASB issued ASU 2015-02, "Consolidation (Topic 810) - Amendments to the Consolidation Analysis," which changes the way reporting enterprises evaluate whether (a) they should consolidate limited partnerships and similar entities, (b) fees paid to a decision maker or service provider are variable interests in a variable interest entity (VIE), and (c) variable interests in a VIE held by related parties of the reporting enterprise require the reporting enterprise to consolidate the VIE. It also eliminates the VIE consolidation model based on majority exposure to variability that applied to certain investment companies and similar entities. ASU 2015-2 is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. The Company does not expect the effect of ASU 2015-02 to have a material impact on its financial statements and related disclosures. |
Subsequent_Events_Notes
Subsequent Events (Notes) | 3 Months Ended |
Mar. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 16. Subsequent Events |
We have evaluated events that have occurred subsequent to March 31, 2015 and have concluded there are no subsequent events that would require recognition in the accompanying consolidated financial statements. |
Acquisitions_Acquisitions_Tabl
Acquisitions Acquisitions Tables | 3 Months Ended | |||
Mar. 31, 2015 | ||||
Business Combinations [Abstract] | ||||
Schedule of Business Acquisitions, by Acquisition | The following assets acquired and liabilities assumed of CapitalSource Inc. are presented at estimated fair value as of its acquisition date: | |||
Acquisition and Date Acquired | ||||
CapitalSource Inc. | ||||
7-Apr-14 | ||||
(In thousands) | ||||
Assets Acquired: | ||||
Cash and due from banks | $ | 768,553 | ||
Interest‑earning deposits in financial institutions | 60,612 | |||
Investment securities available‑for‑sale | 382,797 | |||
FHLB stock | 46,060 | |||
Loans and leases | 6,877,427 | |||
Equipment leased to others under operating leases | 160,015 | |||
Premises and equipment | 12,663 | |||
Foreclosed assets | 6,382 | |||
Income tax assets | 304,856 | |||
Goodwill | 1,526,282 | |||
Core deposit and customer relationship intangibles | 6,720 | |||
Other assets(1) | 582,985 | |||
Total assets acquired | $ | 10,735,352 | ||
Liabilities Assumed: | ||||
Noninterest‑bearing deposits | $ | 4,631 | ||
Interest‑bearing deposits | 6,236,419 | |||
Other borrowings | 992,109 | |||
Subordinated debentures | 300,918 | |||
Accrued interest payable and other liabilities | 124,087 | |||
Total liabilities assumed | $ | 7,658,164 | ||
Total consideration paid | $ | 3,077,188 | ||
Summary of consideration: | ||||
Cash paid | $ | 483,118 | ||
PacWest common stock issued | 2,594,070 | |||
Total | $ | 3,077,188 | ||
___________________ | ||||
-1 | Includes a $484 million receivable for securities sales proceeds. |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets Goodwill and Other Intangilbe Assets (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2015 | ||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||
Goodwill Disclosure | The following table presents the changes in the carrying amount of goodwill for the period indicated: | |||||||||||
Goodwill | ||||||||||||
(In thousands) | ||||||||||||
Balance, December 31, 2014 | $ | 1,720,479 | ||||||||||
To adjust acquired CapitalSource Inc. deferred tax assets | 7,901 | |||||||||||
Balance, March 31, 2015 | $ | 1,728,380 | ||||||||||
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, | December 31, | March 31, | ||||||||||
2015 | 2014 | 2014 | ||||||||||
(In thousands) | ||||||||||||
Gross Amount of CDI and CRI: | ||||||||||||
Balance, end of period | $ | 53,090 | $ | 53,090 | $ | 48,963 | ||||||
Accumulated Amortization: | ||||||||||||
Balance, beginning of period | (35,886 | ) | (34,267 | ) | (31,715 | ) | ||||||
Amortization | (1,501 | ) | (1,619 | ) | (1,364 | ) | ||||||
Balance, end of period | (37,387 | ) | (35,886 | ) | (33,079 | ) | ||||||
Net CDI and CRI, end of period | $ | 15,703 | $ | 17,204 | $ | 15,884 | ||||||
Investments_Tables
Investments (Tables) | 3 Months Ended | |||||||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||||||
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 carrying values of securities available-for-sale as of the dates indicated: | |||||||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||
Government agency and | ||||||||||||||||||||||||||||||||
government-sponsored enterprise | ||||||||||||||||||||||||||||||||
pass-through securities | $ | 439,696 | $ | 19,327 | $ | (131 | ) | $ | 458,892 | $ | 515,902 | $ | 20,142 | $ | (372 | ) | $ | 535,672 | ||||||||||||||
Government agency and | ||||||||||||||||||||||||||||||||
government-sponsored enterprise | ||||||||||||||||||||||||||||||||
collateralized mortgage obligations | 269,766 | 6,909 | (451 | ) | 276,224 | 275,513 | 3,513 | (1,080 | ) | 277,946 | ||||||||||||||||||||||
Covered private label collateralized | ||||||||||||||||||||||||||||||||
mortgage obligations | 26,496 | 7,014 | (66 | ) | 33,444 | 26,889 | 7,153 | (95 | ) | 33,947 | ||||||||||||||||||||||
Other private label collateralized | ||||||||||||||||||||||||||||||||
mortgage obligations | 9,645 | 52 | (47 | ) | 9,650 | 10,961 | 46 | (93 | ) | 10,914 | ||||||||||||||||||||||
Municipal securities | 579,344 | 15,708 | (2,199 | ) | 592,853 | 521,499 | 15,899 | (1,282 | ) | 536,116 | ||||||||||||||||||||||
Corporate debt securities | 47,485 | 683 | (423 | ) | 47,745 | 110,074 | 597 | (562 | ) | 110,109 | ||||||||||||||||||||||
Collateralized loan obligations | 112,883 | 922 | — | 113,805 | — | — | — | — | ||||||||||||||||||||||||
Government-sponsored enterprise debt | ||||||||||||||||||||||||||||||||
securities | 36,249 | 1,156 | — | 37,405 | 36,232 | 525 | — | 36,757 | ||||||||||||||||||||||||
Other securities | 25,451 | 34 | (94 | ) | 25,391 | 25,801 | 33 | (118 | ) | 25,716 | ||||||||||||||||||||||
Total | $ | 1,547,015 | $ | 51,805 | $ | (3,411 | ) | $ | 1,595,409 | $ | 1,522,871 | $ | 47,908 | $ | (3,602 | ) | $ | 1,567,177 | ||||||||||||||
Unrealized losses on investment securities | 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, for which other-than-temporary impairments have not been recognized in earnings, as of the dates indicated: | ||||||||||||||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||||||||||
Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | |||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||
Government agency and government- | ||||||||||||||||||||||||||||||||
sponsored enterprise pass-through | ||||||||||||||||||||||||||||||||
securities | $ | 5,031 | $ | (42 | ) | $ | 10,085 | $ | (89 | ) | $ | 15,116 | $ | (131 | ) | |||||||||||||||||
Government agency and government- | ||||||||||||||||||||||||||||||||
sponsored enterprise collateralized | ||||||||||||||||||||||||||||||||
mortgage obligations | — | — | 14,403 | (451 | ) | 14,403 | (451 | ) | ||||||||||||||||||||||||
Covered private label collateralized | ||||||||||||||||||||||||||||||||
mortgage obligations | 726 | (6 | ) | 643 | (60 | ) | 1,369 | (66 | ) | |||||||||||||||||||||||
Other private label collateralized | ||||||||||||||||||||||||||||||||
mortgage obligations | 1,206 | (46 | ) | 360 | (1 | ) | 1,566 | (47 | ) | |||||||||||||||||||||||
Municipal securities | 112,361 | (1,277 | ) | 38,687 | (922 | ) | 151,048 | (2,199 | ) | |||||||||||||||||||||||
Corporate debt securities | 25,104 | (423 | ) | — | — | 25,104 | (423 | ) | ||||||||||||||||||||||||
Other securities | 6,453 | (72 | ) | 10,020 | (22 | ) | 16,473 | (94 | ) | |||||||||||||||||||||||
Total | $ | 150,881 | $ | (1,866 | ) | $ | 74,198 | $ | (1,545 | ) | $ | 225,079 | $ | (3,411 | ) | |||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||||||||||
Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | |||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||
Government agency and government- | ||||||||||||||||||||||||||||||||
sponsored enterprise pass-through | ||||||||||||||||||||||||||||||||
securities | $ | 10,711 | $ | (13 | ) | $ | 27,100 | $ | (359 | ) | $ | 37,811 | $ | (372 | ) | |||||||||||||||||
Government agency and government- | ||||||||||||||||||||||||||||||||
sponsored enterprise collateralized | ||||||||||||||||||||||||||||||||
mortgage obligations | 23,908 | (73 | ) | 40,652 | (1,007 | ) | 64,560 | (1,080 | ) | |||||||||||||||||||||||
Covered private label collateralized | ||||||||||||||||||||||||||||||||
mortgage obligations | — | — | 1,000 | (95 | ) | 1,000 | (95 | ) | ||||||||||||||||||||||||
Other private label collateralized | ||||||||||||||||||||||||||||||||
mortgage obligations | 1,618 | (93 | ) | — | — | 1,618 | (93 | ) | ||||||||||||||||||||||||
Municipal securities | 11,854 | (66 | ) | 84,822 | (1,216 | ) | 96,676 | (1,282 | ) | |||||||||||||||||||||||
Corporate debt securities | 52,071 | (547 | ) | 10,131 | (15 | ) | 62,202 | (562 | ) | |||||||||||||||||||||||
Other securities | 6,440 | (90 | ) | 10,019 | (28 | ) | 16,459 | (118 | ) | |||||||||||||||||||||||
Total | $ | 106,602 | $ | (882 | ) | $ | 173,724 | $ | (2,720 | ) | $ | 280,326 | $ | (3,602 | ) | |||||||||||||||||
Investments Classified by Contractual Maturity Date | The following table presents the contractual maturities of our available-for-sale securities portfolio based on amortized cost and carrying value as of the date indicated: | |||||||||||||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||||||
Amortized Cost | Estimated Fair Value | |||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Due in one year or less | $ | 18,358 | $ | 18,538 | ||||||||||||||||||||||||||||
Due after one year through five years | 76,173 | 76,515 | ||||||||||||||||||||||||||||||
Due after five years through ten years | 276,933 | 287,023 | ||||||||||||||||||||||||||||||
Due after ten years | 1,175,551 | 1,213,333 | ||||||||||||||||||||||||||||||
Total securities available-for-sale | $ | 1,547,015 | $ | 1,595,409 | ||||||||||||||||||||||||||||
Investment Income | The following table presents the composition of our interest income on investment securities for the periods indicated: | |||||||||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | 31-Mar-14 | ||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
Taxable interest | $ | 7,473 | $ | 7,697 | $ | 6,920 | ||||||||||||||||||||||||||
Non-taxable interest | 3,894 | 3,593 | 3,328 | |||||||||||||||||||||||||||||
Dividend income | 828 | 915 | 575 | |||||||||||||||||||||||||||||
Total interest income on investment securities | $ | 12,195 | $ | 12,205 | $ | 10,823 | ||||||||||||||||||||||||||
Loans_and_Credit_Quality_Table
Loans and Credit Quality (Tables) | 3 Months Ended | |||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||||||||||||||||||
Schedule Of Composition of Loans Portfolio | The following table summarizes the composition of our loan and lease portfolio as of the dates indicated: | |||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||||||
Non-PCI | Non-PCI | |||||||||||||||||||||||||||
Loans | PCI | Loans | PCI | |||||||||||||||||||||||||
and Leases | Loans | Total | and Leases | Loans | Total | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Real estate mortgage | $ | 5,601,937 | $ | 226,502 | $ | 5,828,439 | $ | 5,350,827 | $ | 256,489 | $ | 5,607,316 | ||||||||||||||||
Real estate construction | 331,108 | 1,897 | 333,005 | 309,162 | 6,924 | 316,086 | ||||||||||||||||||||||
Commercial | 6,021,282 | 25,664 | 6,046,946 | 5,852,420 | 27,155 | 5,879,575 | ||||||||||||||||||||||
Consumer | 93,619 | 283 | 93,902 | 101,423 | 284 | 101,707 | ||||||||||||||||||||||
Total gross loans and leases | 12,047,946 | 254,346 | 12,302,292 | 11,613,832 | 290,852 | 11,904,684 | ||||||||||||||||||||||
Deferred fees and costs | (30,065 | ) | (61 | ) | (30,126 | ) | (22,191 | ) | (61 | ) | (22,252 | ) | ||||||||||||||||
Total loans and leases, net of deferred fees | 12,017,881 | 254,285 | 12,272,166 | 11,591,641 | 290,791 | 11,882,432 | ||||||||||||||||||||||
Allowance for loan and lease losses | (79,680 | ) | (12,698 | ) | (92,378 | ) | (70,456 | ) | (13,999 | ) | (84,455 | ) | ||||||||||||||||
Total net loans and leases | $ | 11,938,201 | $ | 241,587 | $ | 12,179,788 | $ | 11,521,185 | $ | 276,792 | $ | 11,797,977 | ||||||||||||||||
Allowance for Loan Losses | The following tables present a summary of the activity in the allowance for loan and lease losses on Non‑PCI loans and leases by portfolio segment and PCI loans for the periods indicated: | |||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | ||||||||||||||||||||||||||||
Real Estate Mortgage | Real Estate Construction | Commercial | Consumer | Total Non-PCI | Total PCI | Total | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses: | ||||||||||||||||||||||||||||
Balance, beginning of period | $ | 25,097 | $ | 4,248 | $ | 39,858 | $ | 1,253 | $ | 70,456 | $ | 13,999 | $ | 84,455 | ||||||||||||||
Charge-offs | (1,453 | ) | — | (8,395 | ) | (63 | ) | (9,911 | ) | (579 | ) | (10,490 | ) | |||||||||||||||
Recoveries | 1,295 | 632 | 410 | 194 | 2,531 | 11 | 2,542 | |||||||||||||||||||||
Provision (negative provision) | 5,972 | (2,707 | ) | 13,921 | (582 | ) | 16,604 | (733 | ) | 15,871 | ||||||||||||||||||
Balance, end of period | $ | 30,911 | $ | 2,173 | $ | 45,794 | $ | 802 | $ | 79,680 | $ | 12,698 | $ | 92,378 | ||||||||||||||
Amount of the allowance applicable to loans and leases: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,500 | $ | 55 | $ | 10,493 | $ | 178 | $ | 12,226 | ||||||||||||||||||
Collectively evaluated for impairment | $ | 29,411 | $ | 2,118 | $ | 35,301 | $ | 624 | $ | 67,454 | ||||||||||||||||||
Acquired loans with deteriorated credit quality | $ | 12,698 | ||||||||||||||||||||||||||
Loan and Leases: | ||||||||||||||||||||||||||||
Ending balance | $ | 5,588,430 | $ | 328,709 | $ | 6,007,067 | $ | 93,675 | $ | 12,017,881 | $ | 254,285 | $ | 12,272,166 | ||||||||||||||
The ending balance of the loan and lease portfolio is composed of loans and leases: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 59,733 | $ | 8,639 | $ | 103,208 | $ | 3,729 | $ | 175,309 | ||||||||||||||||||
Collectively evaluated for impairment | $ | 5,528,697 | $ | 320,070 | $ | 5,903,859 | $ | 89,946 | $ | 11,842,572 | ||||||||||||||||||
Acquired loans with deteriorated credit quality | $ | 254,285 | ||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||||
Real Estate Mortgage | Real Estate Construction | Commercial | Consumer | Total Non-PCI | Total PCI | Total | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Allowance for loan and lease losses: | ||||||||||||||||||||||||||||
Balance, beginning of period | $ | 26,078 | $ | 4,298 | $ | 26,921 | $ | 2,944 | $ | 60,241 | $ | 21,793 | $ | 82,034 | ||||||||||||||
Charge-offs | (94 | ) | — | (1,441 | ) | (15 | ) | (1,550 | ) | — | (1,550 | ) | ||||||||||||||||
Recoveries | 261 | 24 | 377 | 27 | 689 | 51 | 740 | |||||||||||||||||||||
Provision (negative provision) | (1,893 | ) | (219 | ) | 1,883 | 829 | 600 | (644 | ) | (44 | ) | |||||||||||||||||
Balance, end of period | $ | 24,352 | $ | 4,103 | $ | 27,740 | $ | 3,785 | $ | 59,980 | $ | 21,200 | $ | 81,180 | ||||||||||||||
Amount of the allowance applicable to loans and leases: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 2,690 | $ | 251 | $ | 5,337 | $ | 387 | $ | 8,665 | ||||||||||||||||||
Collectively evaluated for impairment | $ | 21,662 | $ | 3,852 | $ | 22,403 | $ | 3,398 | $ | 51,315 | ||||||||||||||||||
Acquired loans with deteriorated credit quality | $ | 21,200 | ||||||||||||||||||||||||||
Loan and Leases: | ||||||||||||||||||||||||||||
Ending balance | $ | 2,320,554 | $ | 240,073 | $ | 1,201,142 | $ | 66,782 | $ | 3,828,551 | $ | 332,516 | $ | 4,161,067 | ||||||||||||||
The ending balance of the loan and lease portfolio is composed of loans and leases: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 58,532 | $ | 12,926 | $ | 17,792 | $ | 3,972 | $ | 93,222 | ||||||||||||||||||
Collectively evaluated for impairment | $ | 2,262,022 | $ | 227,147 | $ | 1,183,350 | $ | 62,810 | $ | 3,735,329 | ||||||||||||||||||
Acquired loans with deteriorated credit quality | $ | 332,516 | ||||||||||||||||||||||||||
CV of Loans Held for Investment by class by performing and nonperforming | The following table presents the credit risk rating categories for Non‑PCI loans and leases by portfolio segment and class as of the dates indicated. Nonclassified loans and leases are those with a credit risk rating of either pass or special mention, while classified loans and leases are those with a credit risk rating of either substandard or doubtful. | |||||||||||||||||||||||||||
31-Mar-15 | December 31, 2014 | |||||||||||||||||||||||||||
Classified | Nonclassified | Total | Classified | Nonclassified | Total | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Real estate mortgage: | ||||||||||||||||||||||||||||
Hospitality | $ | 16,928 | $ | 595,161 | $ | 612,089 | $ | 17,761 | $ | 542,458 | $ | 560,219 | ||||||||||||||||
SBA | 10,919 | 377,857 | 388,776 | 11,141 | 364,786 | 375,927 | ||||||||||||||||||||||
Other | 69,859 | 4,517,706 | 4,587,565 | 68,084 | 4,336,330 | 4,404,414 | ||||||||||||||||||||||
Total real estate mortgage | 97,706 | 5,490,724 | 5,588,430 | 96,986 | 5,243,574 | 5,340,560 | ||||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
Residential | 398 | 121,918 | 122,316 | 402 | 96,326 | 96,728 | ||||||||||||||||||||||
Commercial | 1,456 | 204,937 | 206,393 | 3,346 | 207,061 | 210,407 | ||||||||||||||||||||||
Total real estate construction | 1,854 | 326,855 | 328,709 | 3,748 | 303,387 | 307,135 | ||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 21,265 | 373,123 | 394,388 | 22,433 | 416,754 | 439,187 | ||||||||||||||||||||||
Unsecured | 1,267 | 142,047 | 143,314 | 1,323 | 130,501 | 131,824 | ||||||||||||||||||||||
Asset-based | 11,304 | 1,708,473 | 1,719,777 | 11,547 | 1,783,304 | 1,794,851 | ||||||||||||||||||||||
Cash flow | 105,763 | 2,687,421 | 2,793,184 | 83,321 | 2,376,530 | 2,459,851 | ||||||||||||||||||||||
Equipment finance | 86,938 | 827,078 | 914,016 | 15,973 | 953,516 | 969,489 | ||||||||||||||||||||||
SBA | 3,128 | 39,260 | 42,388 | 3,207 | 44,054 | 47,261 | ||||||||||||||||||||||
Total commercial | 229,665 | 5,777,402 | 6,007,067 | 137,804 | 5,704,659 | 5,842,463 | ||||||||||||||||||||||
Consumer | 3,957 | 89,718 | 93,675 | 4,073 | 97,410 | 101,483 | ||||||||||||||||||||||
Total Non-PCI loans and leases | $ | 333,182 | $ | 11,684,699 | $ | 12,017,881 | $ | 242,611 | $ | 11,349,030 | $ | 11,591,641 | ||||||||||||||||
Schedule Of Non Accrual and Performing Restructured Impaired Financing Receivables | The following table presents the composition of our impaired loans and leases as of the dates indicated: | |||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||||||
Performing | Total | Performing | Total | |||||||||||||||||||||||||
Nonaccrual | Restructured | Impaired | Nonaccrual | Restructured | Impaired | |||||||||||||||||||||||
Loans/Leases | Loans | Loans/Leases | Loans/Leases | Loans | Loans/Leases | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Real estate mortgage | $ | 37,335 | $ | 22,398 | $ | 59,733 | $ | 37,612 | $ | 20,245 | $ | 57,857 | ||||||||||||||||
Real estate construction | 832 | 7,807 | 8,639 | 1,559 | 8,996 | 10,555 | ||||||||||||||||||||||
Commercial | 97,693 | 5,515 | 103,208 | 40,965 | 5,744 | 46,709 | ||||||||||||||||||||||
Consumer | 3,474 | 255 | 3,729 | 3,485 | 259 | 3,744 | ||||||||||||||||||||||
Total | $ | 139,334 | $ | 35,975 | $ | 175,309 | $ | 83,621 | $ | 35,244 | $ | 118,865 | ||||||||||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period | The following table summarizes the changes in the carrying amount of PCI loans and accretable yield on those loans for the period indicated: | |||||||||||||||||||||||||||
Carrying Amount | Accretable Yield | |||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Balance, December 31, 2014 | $ | 276,792 | $ | (106,856 | ) | |||||||||||||||||||||||
Accretion | 10,183 | 10,183 | ||||||||||||||||||||||||||
Payments received | (46,121 | ) | — | |||||||||||||||||||||||||
Increase in expected cash flows, net | — | (6,190 | ) | |||||||||||||||||||||||||
Negative provision for credit losses | 733 | — | ||||||||||||||||||||||||||
Balance, March 31, 2015 | $ | 241,587 | $ | (102,863 | ) | |||||||||||||||||||||||
Non Purchased Credit Impaired Loans and Leases [Member] | ||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||||||||||||||||||
Delinquent loans in loan portfolio | The following tables present an aging analysis of our Non‑PCI loans and leases by portfolio segment and class as of the dates indicated: | |||||||||||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||||||||||
30-89 Days Past Due | 90 or More | Total Past Due | Current | Total | ||||||||||||||||||||||||
Days Past Due | ||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Real estate mortgage: | ||||||||||||||||||||||||||||
Hospitality | $ | — | $ | — | $ | — | $ | 612,089 | $ | 612,089 | ||||||||||||||||||
SBA | 5,582 | 5,487 | 11,069 | 377,707 | 388,776 | |||||||||||||||||||||||
Other | 6,234 | 5,319 | 11,553 | 4,576,012 | 4,587,565 | |||||||||||||||||||||||
Total real estate mortgage | 11,816 | 10,806 | 22,622 | 5,565,808 | 5,588,430 | |||||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
Residential | — | — | — | 122,316 | 122,316 | |||||||||||||||||||||||
Commercial | — | — | — | 206,393 | 206,393 | |||||||||||||||||||||||
Total real estate construction | — | — | — | 328,709 | 328,709 | |||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 1,782 | 424 | 2,206 | 392,182 | 394,388 | |||||||||||||||||||||||
Unsecured | — | 16 | 16 | 143,298 | 143,314 | |||||||||||||||||||||||
Asset-based | — | — | — | 1,719,777 | 1,719,777 | |||||||||||||||||||||||
Cash flow | — | — | — | 2,793,184 | 2,793,184 | |||||||||||||||||||||||
Equipment finance | 23,409 | — | 23,409 | 890,607 | 914,016 | |||||||||||||||||||||||
SBA | 788 | 1,362 | 2,150 | 40,238 | 42,388 | |||||||||||||||||||||||
Total commercial | 25,979 | 1,802 | 27,781 | 5,979,286 | 6,007,067 | |||||||||||||||||||||||
Consumer | 9 | 3,196 | 3,205 | 90,470 | 93,675 | |||||||||||||||||||||||
Total Non-PCI loans and leases | $ | 37,804 | $ | 15,804 | $ | 53,608 | $ | 11,964,273 | $ | 12,017,881 | ||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||||||
30-89 Days Past Due | 90 or More | Total Past Due | Current | Total | ||||||||||||||||||||||||
Days Past Due | ||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Real estate mortgage: | ||||||||||||||||||||||||||||
Hospitality | $ | — | $ | — | $ | — | $ | 560,219 | $ | 560,219 | ||||||||||||||||||
SBA | 5,530 | 4,357 | 9,887 | 366,040 | 375,927 | |||||||||||||||||||||||
Other | 6,098 | 7,630 | 13,728 | 4,390,686 | 4,404,414 | |||||||||||||||||||||||
Total real estate mortgage | 11,628 | 11,987 | 23,615 | 5,316,945 | 5,340,560 | |||||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
Residential | — | — | — | 96,728 | 96,728 | |||||||||||||||||||||||
Commercial | — | 715 | 715 | 209,692 | 210,407 | |||||||||||||||||||||||
Total real estate construction | — | 715 | 715 | 306,420 | 307,135 | |||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 878 | 965 | 1,843 | 437,344 | 439,187 | |||||||||||||||||||||||
Unsecured | 69 | 45 | 114 | 131,710 | 131,824 | |||||||||||||||||||||||
Asset-based | — | — | — | 1,794,851 | 1,794,851 | |||||||||||||||||||||||
Cash flow | — | 232 | 232 | 2,459,619 | 2,459,851 | |||||||||||||||||||||||
Equipment finance | 6,525 | 366 | 6,891 | 962,598 | 969,489 | |||||||||||||||||||||||
SBA | 205 | 1,362 | 1,567 | 45,694 | 47,261 | |||||||||||||||||||||||
Total commercial | 7,677 | 2,970 | 10,647 | 5,831,816 | 5,842,463 | |||||||||||||||||||||||
Consumer | 101 | 3,146 | 3,247 | 98,236 | 101,483 | |||||||||||||||||||||||
Total Non-PCI loans and leases | $ | 19,406 | $ | 18,818 | $ | 38,224 | $ | 11,553,417 | $ | 11,591,641 | ||||||||||||||||||
Financing Receivable Non Accrual And Performing | The following table presents our nonaccrual and performing Non‑PCI loans and leases by portfolio segment and class as of the dates indicated: | |||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||||||||
Nonaccrual | Performing | Total | Nonaccrual | Performing | Total | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Real estate mortgage: | ||||||||||||||||||||||||||||
Hospitality | $ | 8,088 | $ | 604,001 | $ | 612,089 | $ | 6,366 | $ | 553,853 | $ | 560,219 | ||||||||||||||||
SBA | 10,919 | 377,857 | 388,776 | 11,141 | 364,786 | 375,927 | ||||||||||||||||||||||
Other | 18,328 | 4,569,237 | 4,587,565 | 20,105 | 4,384,309 | 4,404,414 | ||||||||||||||||||||||
Total real estate mortgage | 37,335 | 5,551,095 | 5,588,430 | 37,612 | 5,302,948 | 5,340,560 | ||||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
Residential | 379 | 121,937 | 122,316 | 381 | 96,347 | 96,728 | ||||||||||||||||||||||
Commercial | 453 | 205,940 | 206,393 | 1,178 | 209,229 | 210,407 | ||||||||||||||||||||||
Total real estate construction | 832 | 327,877 | 328,709 | 1,559 | 305,576 | 307,135 | ||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 3,601 | 390,787 | 394,388 | 5,450 | 433,737 | 439,187 | ||||||||||||||||||||||
Unsecured | 594 | 142,720 | 143,314 | 639 | 131,185 | 131,824 | ||||||||||||||||||||||
Asset-based | 4,159 | 1,715,618 | 1,719,777 | 4,574 | 1,790,277 | 1,794,851 | ||||||||||||||||||||||
Cash flow | 15,172 | 2,778,012 | 2,793,184 | 15,964 | 2,443,887 | 2,459,851 | ||||||||||||||||||||||
Equipment finance | 71,039 | 842,977 | 914,016 | 11,131 | 958,358 | 969,489 | ||||||||||||||||||||||
SBA | 3,128 | 39,260 | 42,388 | 3,207 | 44,054 | 47,261 | ||||||||||||||||||||||
Total commercial | 97,693 | 5,909,374 | 6,007,067 | 40,965 | 5,801,498 | 5,842,463 | ||||||||||||||||||||||
Consumer | 3,474 | 90,201 | 93,675 | 3,485 | 97,998 | 101,483 | ||||||||||||||||||||||
Total Non-PCI loans and leases | $ | 139,334 | $ | 11,878,547 | $ | 12,017,881 | $ | 83,621 | $ | 11,508,020 | $ | 11,591,641 | ||||||||||||||||
Impaired Financing Receivables, Average Balances And Interest Income Recognized | The following tables present information regarding our Non‑PCI impaired loans and leases by portfolio segment and class as of and for the dates indicated: | |||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related | Recorded Investment | Unpaid Principal Balance | Related | |||||||||||||||||||||||
Allowance | Allowance | |||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
With An Allowance Recorded: | ||||||||||||||||||||||||||||
Real estate mortgage: | ||||||||||||||||||||||||||||
Hospitality | $ | 1,930 | $ | 1,930 | $ | 31 | $ | 1,946 | $ | 1,945 | $ | 47 | ||||||||||||||||
SBA | — | — | — | — | — | — | ||||||||||||||||||||||
Other | 12,986 | 13,169 | 1,469 | 9,136 | 9,233 | 646 | ||||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
Residential | 759 | 759 | 41 | 763 | 763 | 46 | ||||||||||||||||||||||
Commercial | 403 | 401 | 14 | 1,128 | 4,934 | 23 | ||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 4,811 | 5,486 | 3,497 | 4,630 | 5,246 | 3,771 | ||||||||||||||||||||||
Unsecured | 1,055 | 1,067 | 913 | 912 | 924 | 799 | ||||||||||||||||||||||
Asset-based | 47 | 157 | 47 | 137 | 247 | 137 | ||||||||||||||||||||||
Cash flow | 14,974 | 17,694 | 2,522 | 15,578 | 17,970 | 2,667 | ||||||||||||||||||||||
Equipment finance | 9,347 | 9,764 | 3,514 | 6,956 | 7,268 | 2,601 | ||||||||||||||||||||||
SBA | — | — | — | — | — | — | ||||||||||||||||||||||
Consumer | 383 | 386 | 178 | 143 | 142 | 37 | ||||||||||||||||||||||
With No Related Allowance Recorded: | ||||||||||||||||||||||||||||
Real estate mortgage: | ||||||||||||||||||||||||||||
Hospitality | $ | 8,088 | $ | 10,096 | $ | — | $ | 6,366 | $ | 7,593 | $ | — | ||||||||||||||||
SBA | 10,919 | 15,030 | — | 11,141 | 14,708 | — | ||||||||||||||||||||||
Other | 25,810 | 39,548 | — | 29,268 | 40,643 | — | ||||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
Residential | 20 | 19 | — | 21 | 19 | — | ||||||||||||||||||||||
Commercial | 7,457 | 7,571 | — | 8,643 | 8,749 | — | ||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 3,324 | 4,234 | — | 5,566 | 6,877 | — | ||||||||||||||||||||||
Unsecured | 519 | 564 | — | 725 | 809 | — | ||||||||||||||||||||||
Asset-based | 4,111 | 5,220 | — | 4,436 | 5,415 | — | ||||||||||||||||||||||
Cash flow | 198 | 735 | — | 387 | 919 | — | ||||||||||||||||||||||
Equipment finance | 61,694 | 67,850 | — | 4,175 | 7,528 | — | ||||||||||||||||||||||
SBA | 3,128 | 4,762 | — | 3,207 | 4,920 | — | ||||||||||||||||||||||
Consumer | 3,346 | 3,506 | — | 3,601 | 3,768 | — | ||||||||||||||||||||||
Total Non-PCI Loans and Leases With and Without an Allowance Recorded: | ||||||||||||||||||||||||||||
Real estate mortgage | $ | 59,733 | $ | 79,773 | $ | 1,500 | $ | 57,857 | $ | 74,122 | $ | 693 | ||||||||||||||||
Real estate construction | 8,639 | 8,750 | 55 | 10,555 | 14,465 | 69 | ||||||||||||||||||||||
Commercial | 103,208 | 117,533 | 10,493 | 46,709 | 58,123 | 9,975 | ||||||||||||||||||||||
Consumer | 3,729 | 3,892 | 178 | 3,744 | 3,910 | 37 | ||||||||||||||||||||||
Total | $ | 175,309 | $ | 209,948 | $ | 12,226 | $ | 118,865 | $ | 150,620 | $ | 10,774 | ||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||
Weighted Average | Interest | Weighted Average | Interest | |||||||||||||||||||||||||
Balance(1) | Income | Balance(1) | Income | |||||||||||||||||||||||||
Recognized | Recognized | |||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
With An Allowance Recorded: | ||||||||||||||||||||||||||||
Real estate mortgage: | ||||||||||||||||||||||||||||
Hospitality | $ | 1,930 | $ | 19 | $ | 5,658 | $ | 20 | ||||||||||||||||||||
SBA | — | — | 1,092 | 15 | ||||||||||||||||||||||||
Other | 12,783 | 136 | 16,174 | 119 | ||||||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
Residential | 759 | 4 | 774 | 4 | ||||||||||||||||||||||||
Commercial | 403 | 5 | 5 | — | ||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 4,646 | 33 | 3,765 | 6 | ||||||||||||||||||||||||
Unsecured | 1,055 | 11 | 742 | 6 | ||||||||||||||||||||||||
Asset-based | 47 | — | 304 | — | ||||||||||||||||||||||||
Cash flow | 14,973 | — | — | — | ||||||||||||||||||||||||
Equipment finance | 4,581 | — | — | — | ||||||||||||||||||||||||
SBA | — | — | 919 | 10 | ||||||||||||||||||||||||
Consumer | 383 | 4 | 2,151 | 4 | ||||||||||||||||||||||||
With No Related Allowance Recorded: | ||||||||||||||||||||||||||||
Real estate mortgage: | ||||||||||||||||||||||||||||
Hospitality | $ | 7,836 | $ | — | $ | 2,971 | $ | — | ||||||||||||||||||||
SBA | 9,836 | — | 2,519 | — | ||||||||||||||||||||||||
Other | 24,219 | 80 | 23,549 | 63 | ||||||||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
Residential | 20 | — | — | — | ||||||||||||||||||||||||
Commercial | 7,457 | 271 | 5,491 | 25 | ||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 3,324 | 48 | 4,861 | 6 | ||||||||||||||||||||||||
Unsecured | 519 | 1 | 326 | — | ||||||||||||||||||||||||
Asset-based | 4,111 | — | — | — | ||||||||||||||||||||||||
Cash flow | 198 | — | — | — | ||||||||||||||||||||||||
Equipment finance | 7,537 | — | 220 | — | ||||||||||||||||||||||||
SBA | 3,128 | 45 | 3,132 | 2 | ||||||||||||||||||||||||
Consumer | 3,345 | — | 251 | 1 | ||||||||||||||||||||||||
Total Non-PCI Loans and Leases With and Without an Allowance Recorded: | ||||||||||||||||||||||||||||
Real estate mortgage | $ | 56,604 | $ | 235 | $ | 51,963 | $ | 217 | ||||||||||||||||||||
Real estate construction | 8,639 | 280 | 6,270 | 29 | ||||||||||||||||||||||||
Commercial | 44,119 | 138 | 14,269 | 30 | ||||||||||||||||||||||||
Consumer | 3,728 | 4 | 2,402 | 5 | ||||||||||||||||||||||||
Total | $ | 113,090 | $ | 657 | $ | 74,904 | $ | 281 | ||||||||||||||||||||
_________________________ | ||||||||||||||||||||||||||||
-1 | For the loans and leases (excluding PCI loans) reported as impaired at March 31, 2015 and 2014, amounts were calculated based on the period of time such loans and leases were impaired during the reported period. | |||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables | The following table presents new troubled debt restructurings of Non-PCI loans for the periods indicated: | |||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||
Troubled Debt Restructurings: | Number of Loans | Pre- Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | Number of Loans | Pre- Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | ||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real estate mortgage: | ||||||||||||||||||||||||||||
Other | 14 | $ | 6,074 | $ | 5,886 | 4 | $ | 2,515 | $ | 2,515 | ||||||||||||||||||
Real estate construction: | ||||||||||||||||||||||||||||
Commercial | 1 | 2,610 | 2,610 | 2 | 4,927 | 4,927 | ||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 6 | 1,399 | 1,399 | 4 | 3,287 | 3,287 | ||||||||||||||||||||||
Unsecured | 1 | 195 | 195 | 2 | 38 | 38 | ||||||||||||||||||||||
Cash flow | 2 | 566 | 387 | — | — | — | ||||||||||||||||||||||
Equipment finance | 4 | 4,133 | 4,133 | — | — | — | ||||||||||||||||||||||
SBA | 1 | — | — | 1 | 238 | 238 | ||||||||||||||||||||||
Consumer | 1 | 91 | 91 | 1 | 124 | 124 | ||||||||||||||||||||||
Total | 30 | $ | 15,068 | $ | 14,701 | 14 | $ | 11,129 | $ | 11,129 | ||||||||||||||||||
The following table presents troubled debt restructurings that subsequently defaulted for the periods indicated: | ||||||||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||||
2015 | 2014 | |||||||||||||||||||||||||||
Troubled Debt Restructurings | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||
That Subsequently Defaulted: | Loans | Investment(1) | Loans | Investment(1) | ||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real estate mortgage - Other | 2 | $ | 1,519 | — | $ | — | ||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||
Collateralized | 1 | 385 | 2 | 559 | ||||||||||||||||||||||||
Unsecured | — | — | 1 | 21 | ||||||||||||||||||||||||
Asset-based | — | — | 1 | 301 | ||||||||||||||||||||||||
Total | 3 | $ | 1,904 | -2 | 4 | $ | 881 | -3 | ||||||||||||||||||||
_________________________ | ||||||||||||||||||||||||||||
-1 | The population of defaulted restructured loans for the period indicated includes only those loans restructured during the preceding 12-month period. The table excludes defaulted troubled restructurings in those classes for which the recorded investment was zero at the end of the period. | |||||||||||||||||||||||||||
-2 | Represents the balance at March 31, 2015, and is net of charge-offs of $772,000. | |||||||||||||||||||||||||||
-3 | Represents the balance at March 31, 2014, and there were no charge-offs. | |||||||||||||||||||||||||||
Purchased Credit Impaired Loans and Leases [Member] | ||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||||||||||||||||||||
CV of Loans Held for Investment by class by performing and nonperforming | The following table presents PCI loans by credit risk rating categories and portfolio segment as of the dates indicated. Nonclassified loans are those with a credit risk rating of either pass or special mention, while classified loans are those with a credit risk rating of either substandard or doubtful. | |||||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||||||||||
Classified | Nonclassified | Total | Classified | Nonclassified | Total | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Real estate mortgage | $ | 77,548 | $ | 148,902 | $ | 226,450 | $ | 101,161 | $ | 155,281 | $ | 256,442 | ||||||||||||||||
Real estate construction | 1,888 | — | 1,888 | 3,901 | 3,010 | 6,911 | ||||||||||||||||||||||
Commercial | 25,476 | 188 | 25,664 | 26,942 | 212 | 27,154 | ||||||||||||||||||||||
Consumer | 283 | — | 283 | 284 | — | 284 | ||||||||||||||||||||||
Total PCI loans | $ | 105,195 | $ | 149,090 | $ | 254,285 | $ | 132,288 | $ | 158,503 | $ | 290,791 | ||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable | The following table reflects the PCI loans by portfolio segment as of the dates indicated: | |||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Real estate mortgage | $ | 268,777 | $ | 299,660 | ||||||||||||||||||||||||
Real estate construction | 2,540 | 7,743 | ||||||||||||||||||||||||||
Commercial | 31,185 | 32,904 | ||||||||||||||||||||||||||
Consumer | 326 | 332 | ||||||||||||||||||||||||||
Total gross PCI loans | 302,828 | 340,639 | ||||||||||||||||||||||||||
Less: | ||||||||||||||||||||||||||||
Discount | (48,543 | ) | (49,848 | ) | ||||||||||||||||||||||||
Allowance for loan losses | (12,698 | ) | (13,999 | ) | ||||||||||||||||||||||||
Total net PCI loans | $ | 241,587 | $ | 276,792 | ||||||||||||||||||||||||
Foreclosed_Assets_Foreclosed_A1
Foreclosed Assets Foreclosed Assets (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Other Real Estate Owned Net Covered and NonCovered Including Foreclosed Assets [Abstract] | ||||||||
Other Real Estate and Foreclosed Assets | The following table summarizes foreclosed assets at the dates indicated: | |||||||
Property Type: | 31-Mar-15 | 31-Dec-14 | ||||||
(In thousands) | ||||||||
Commercial real estate | $ | 1,036 | $ | 2,449 | ||||
Construction and land development | 18,942 | 24,759 | ||||||
Multi‑family | 4,964 | 4,823 | ||||||
Single family residence | 3,253 | 3,392 | ||||||
Total other real estate owned, net | 28,195 | 35,423 | ||||||
Other foreclosed assets | 7,745 | 8,298 | ||||||
Total foreclosed assets, net(1) | $ | 35,940 | $ | 43,721 | ||||
Other Foreclosed Assets Rollforward | The following table presents the changes in foreclosed assets, net of the valuation allowance, for the period indicated: | |||||||
Foreclosed Assets | ||||||||
(In thousands) | ||||||||
Balance, December 31, 2014 | $ | 43,721 | ||||||
Foreclosures | 394 | |||||||
Provision for losses | (124 | ) | ||||||
Reductions related to sales | (8,051 | ) | ||||||
Balance, March 31, 2015 | $ | 35,940 | ||||||
FDIC_Loss_Sharing_Asset_FDIC_L1
FDIC Loss Sharing Asset FDIC Loss Sharing Asset (Tables) | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
FDIC Loss-Sharing Arrangements [Abstract] | ||||||||||||||||||||
Schedule of Composition of Loss Sharing Assets and True Up Liability | The following table presents information about the composition of the FDIC loss sharing asset, the true‑up liability, and the non‑single family and the single family covered assets as of the date indicated: | |||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||
Affinity Bank | Los Padres Bank | Western Commercial Bank | San Luis Trust Bank | Total | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
FDIC loss sharing asset | $ | 140 | $ | 8,161 | $ | 710 | $ | 7,521 | $ | 16,532 | ||||||||||
True‑up liability | N/A | N/A | $ | 1,773 | $ | 5,517 | $ | 7,290 | ||||||||||||
Non-single family covered assets(1) | $ | 105,614 | $ | 73,072 | $ | 8,799 | $ | 26,001 | $ | 213,486 | ||||||||||
Single family covered assets | $ | 10,932 | $ | 55,447 | N/A | $ | 29,101 | $ | 95,480 | |||||||||||
Loss sharing expiration dates: | ||||||||||||||||||||
Non‑single family | 3rd Quarter 2014 | 3rd Quarter 2015 | 4th Quarter 2015 | 1st Quarter 2016 | ||||||||||||||||
Single family | 3rd Quarter 2019 | 3rd Quarter 2020 | N/A | 1st Quarter 2021 | ||||||||||||||||
Loss recovery expiration dates: | ||||||||||||||||||||
Non‑single family | 3rd Quarter 2017 | 3rd Quarter 2018 | 4th Quarter 2018 | 1st Quarter 2019 | ||||||||||||||||
Single family | 3rd Quarter 2019 | 3rd Quarter 2020 | N/A | 1st Quarter 2021 | ||||||||||||||||
_________________________ | ||||||||||||||||||||
-1 | Excludes securities |
Borrowings_Tables
Borrowings (Tables) | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Borrowings Subordinated Debentures And Brokered Deposits [Abstract] | ||||||||||||||||||||
Schedule of Debt | The following table summarizes our borrowings as of the dates indicated: | |||||||||||||||||||
March 31, 2015 | December 31, 2014 | |||||||||||||||||||
Amount | Rate | Amount | Rate | |||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Non‑recourse debt | $ | 3,156 | 6.34 | % | $ | 3,402 | 6.43 | % | ||||||||||||
FHLB overnight advances | 615,000 | 0.24 | % | 380,000 | 0.27 | % | ||||||||||||||
Total borrowings | $ | 618,156 | $ | 383,402 | ||||||||||||||||
Borrowings Subordinated Debentures And Brokered Deposits Disclosure | The following table summarizes the terms of each issuance of subordinated debentures outstanding as of the dates indicated: | |||||||||||||||||||
31-Mar-15 | 31-Dec-14 | |||||||||||||||||||
Date | Maturity | Rate Index | ||||||||||||||||||
Series | Amount | Rate | Amount | Rate | Issued | Date | (Quarterly Reset) | |||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Trust V | $ | 10,310 | 3.37 | % | $ | 10,310 | 3.33 | % | 8/15/03 | 9/17/33 | 3 month LIBOR + 3.10 | |||||||||
Trust VI | 10,310 | 3.32 | % | 10,310 | 3.29 | % | 9/3/03 | 9/15/33 | 3 month LIBOR + 3.05 | |||||||||||
Trust CII | 5,155 | 3.22 | % | 5,155 | 3.19 | % | 9/17/03 | 9/17/33 | 3 month LIBOR + 2.95 | |||||||||||
Trust VII | 61,856 | 3 | % | 61,856 | 2.98 | % | 2/5/04 | 4/23/34 | 3 month LIBOR + 2.75 | |||||||||||
Trust CIII | 20,619 | 1.96 | % | 20,619 | 1.93 | % | 8/15/05 | 9/15/35 | 3 month LIBOR + 1.69 | |||||||||||
Trust FCCI | 16,495 | 1.87 | % | 16,495 | 1.84 | % | 1/25/07 | 3/15/37 | 3 month LIBOR + 1.60 | |||||||||||
Trust FCBI | 10,310 | 1.82 | % | 10,310 | 1.79 | % | 9/30/05 | 12/15/35 | 3 month LIBOR + 1.55 | |||||||||||
Trust CS 2005-1 (1) | 82,475 | 2.22 | % | 82,475 | 2.19 | % | 11/21/05 | 12/15/35 | 3 month LIBOR + 1.95 | |||||||||||
Trust CS 2005-2 (1) | 128,866 | 2.2 | % | 128,866 | 2.18 | % | 12/14/05 | 1/30/36 | 3 month LIBOR + 1.95 | |||||||||||
Trust CS 2006-1 (1) | 51,545 | 2.2 | % | 51,545 | 2.18 | % | 2/22/06 | 4/30/36 | 3 month LIBOR + 1.95 | |||||||||||
Trust CS 2006-2 (1) | 51,550 | 2.2 | % | 51,550 | 2.18 | % | 9/27/06 | 10/30/36 | 3 month LIBOR + 1.95 | |||||||||||
Trust CS 2006-3 (1)(3) | 27,651 | 2.1 | % | 31,188 | 2.14 | % | 9/29/06 | 10/30/36 | 3 month EURIBOR + 2.05 | |||||||||||
Trust CS 2006-4 (1) | 16,470 | 2.2 | % | 16,470 | 2.18 | % | 12/5/06 | 1/30/37 | 3 month LIBOR + 1.95 | |||||||||||
Trust CS 2006-5 (1) | 6,650 | 2.2 | % | 6,650 | 2.18 | % | 12/19/06 | 1/30/37 | 3 month LIBOR + 1.95 | |||||||||||
Trust CS 2007-2 (1) | 39,177 | 2.2 | % | 39,177 | 2.18 | % | 6/13/07 | 7/30/37 | 3 month LIBOR + 1.95 | |||||||||||
Gross subordinated debentures | 539,439 | 542,976 | ||||||||||||||||||
Unamortized discount (2) | (107,991 | ) | (109,393 | ) | ||||||||||||||||
Net subordinated debentures | $ | 431,448 | $ | 433,583 | ||||||||||||||||
___________________ | ||||||||||||||||||||
-1 | Acquired in the CapitalSource Inc. merger. | |||||||||||||||||||
-2 | Amount represents the fair value adjustment on trust preferred securities assumed in the CapitalSource Inc. and FCAL acquisitions. | |||||||||||||||||||
-3 | Denomination is in Euros with a value of €25.8 million. |
Commitments_and_Contingencies_
Commitments and Contingencies Commitments and Contingencies Disclosure (Tables) | 3 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||
Commitments Disclosure | The following table presents a summary of the financial instruments described above as of the dates indicated: | |||||||
31-Mar-15 | 31-Dec-14 | |||||||
(In thousands) | ||||||||
Loan commitments to extend credit | $ | 2,122,749 | $ | 1,921,067 | ||||
Standby letters of credit | 97,540 | 88,495 | ||||||
Commitments to purchase equipment being acquired for lease to others | 23,535 | 12,839 | ||||||
$ | 2,243,824 | $ | 2,022,401 | |||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | The following tables present information on the assets measured and recorded at fair value on a recurring basis as of the dates indicated: | |||||||||||||||||||
Fair Value Measurements as of | ||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||
Measured on a Recurring Basis: | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Securities available‑for‑sale: | ||||||||||||||||||||
Government agency and government‑sponsored enterprise | ||||||||||||||||||||
pass-through securities | $ | 458,892 | $ | — | $ | 458,892 | $ | — | ||||||||||||
Government agency and government‑sponsored enterprise | ||||||||||||||||||||
collateralized mortgage obligations | 276,224 | — | 276,224 | — | ||||||||||||||||
Covered private label CMOs | 33,444 | — | — | 33,444 | ||||||||||||||||
Other private label CMOs | 9,650 | — | 9,650 | — | ||||||||||||||||
Municipal securities | 592,853 | — | 592,853 | — | ||||||||||||||||
Corporate debt securities | 47,745 | — | 47,745 | — | ||||||||||||||||
Collateralized loan obligations | 113,805 | — | 113,805 | — | ||||||||||||||||
Government‑sponsored enterprise debt securities | 37,405 | — | 37,405 | — | ||||||||||||||||
Other securities | 25,391 | 524 | 24,867 | — | ||||||||||||||||
Total securities available-for-sale | 1,595,409 | 524 | 1,561,441 | 33,444 | ||||||||||||||||
Derivative assets | 9,749 | — | 9,749 | — | ||||||||||||||||
Total recurring assets | $ | 1,605,158 | $ | 524 | $ | 1,571,190 | $ | 33,444 | ||||||||||||
Fair Value Measurements as of | ||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Measured on a Recurring Basis: | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Securities available‑for‑sale: | ||||||||||||||||||||
Government agency and government‑sponsored enterprise | ||||||||||||||||||||
pass-through securities | $ | 535,672 | $ | — | $ | 535,672 | $ | — | ||||||||||||
Government agency and government‑sponsored enterprise | ||||||||||||||||||||
collateralized mortgage obligations | 277,946 | — | 277,946 | — | ||||||||||||||||
Covered private label CMOs | 33,947 | — | — | 33,947 | ||||||||||||||||
Other private label CMOs | 10,914 | — | 10,914 | — | ||||||||||||||||
Municipal securities | 536,116 | — | 536,116 | — | ||||||||||||||||
Corporate debt securities | 110,109 | — | 110,109 | — | ||||||||||||||||
Government‑sponsored enterprise debt securities | 36,757 | — | 36,757 | — | ||||||||||||||||
Other securities | 25,716 | 519 | 25,197 | — | ||||||||||||||||
Total securities available-for-sale | 1,567,177 | 519 | 1,532,711 | 33,947 | ||||||||||||||||
Derivative assets | 5,234 | — | 5,234 | — | ||||||||||||||||
Total recurring assets | $ | 1,572,411 | $ | 519 | $ | 1,537,945 | $ | 33,947 | ||||||||||||
Derivative liabilities | $ | 118 | $ | — | $ | 118 | $ | — | ||||||||||||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | 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 covered private label CMOs measured at fair value on a recurring basis as of March 31, 2015: | |||||||||||||||||||
Covered Private Label CMOs | ||||||||||||||||||||
Unobservable Inputs: | Range of Inputs | Weighted Average Input | ||||||||||||||||||
Voluntary annual prepayment speeds | 0% - 34.4% | 5.70% | ||||||||||||||||||
Annual default rates | 0% - 42.7% | 2.90% | ||||||||||||||||||
Loss severity rates | 0% - 71.2% | 30.20% | ||||||||||||||||||
Discount rates | 0% - 22.6% | 5.60% | ||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Significant Unobservable Inputs (Level 3) Reconciliation | The following table summarizes activity for assets measured at fair value on a recurring basis that are categorized as Level 3 for the period indicated: | |||||||||||||||||||
Covered Private Label CMOs | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Balance, December 31, 2014 | $ | 33,947 | ||||||||||||||||||
Total realized in earnings | 154 | |||||||||||||||||||
Total unrealized loss in comprehensive income | (109 | ) | ||||||||||||||||||
Net settlements | (548 | ) | ||||||||||||||||||
Balance, March 31, 2015 | $ | 33,444 | ||||||||||||||||||
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, 2015 | ||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Measured on a Non‑Recurring Basis: | (In thousands) | |||||||||||||||||||
Impaired Non‑PCI loans | $ | 59,243 | $ | — | $ | 2,179 | $ | 57,064 | ||||||||||||
Other real estate owned | 782 | — | 782 | — | ||||||||||||||||
Total non-recurring | $ | 60,025 | $ | — | $ | 2,961 | $ | 57,064 | ||||||||||||
Fair Value Measurement as of | ||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Measured on a Non‑Recurring Basis: | (In thousands) | |||||||||||||||||||
Impaired Non‑PCI loans | $ | 42,693 | $ | — | $ | 2,366 | $ | 40,327 | ||||||||||||
Other real estate owned | 24,015 | — | 18,400 | 5,615 | ||||||||||||||||
Investments carried at cost | 566 | — | — | 566 | ||||||||||||||||
Total non-recurring | $ | 67,274 | $ | — | $ | 20,766 | $ | 46,508 | ||||||||||||
Net Losses (Gains) on Nonrecurring Assets [Table Text Block] | The following table presents losses recognized on assets measured on a nonrecurring basis for the period indicated: | |||||||||||||||||||
Three Months Ended | ||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||
Loss on Assets Measured on a Non‑Recurring Basis: | (In thousands) | |||||||||||||||||||
Impaired Non‑PCI loans | $ | (9,192 | ) | |||||||||||||||||
Other real estate owned | (124 | ) | ||||||||||||||||||
Total net loss | $ | (9,316 | ) | |||||||||||||||||
Fair Value Inputs, Assets, Quantitative Information | The following table presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a nonrecurring basis as of March 31, 2015: | |||||||||||||||||||
Asset | Fair Value | Valuation Technique | Unobservable Inputs | Range | Weighted | |||||||||||||||
(In thousands) | Average | |||||||||||||||||||
Impaired Non-PCI loans | $ | 32,905 | Discounted cash flows | Discount rates | 2.75% - 10.46% | 6.73% | ||||||||||||||
24,159 | Appraisals | No discounts | ||||||||||||||||||
Total non-recurring Level 3 | $ | 57,064 | ||||||||||||||||||
Fair Value, by Balance Sheet Grouping | The following tables present a summary of the carrying values and estimated fair values of certain financial instruments as of the dates indicated: | |||||||||||||||||||
31-Mar-15 | ||||||||||||||||||||
Carrying or | Estimated Fair Value | |||||||||||||||||||
Contract | ||||||||||||||||||||
Amount | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Financial Assets: | ||||||||||||||||||||
Cash and due from banks | $ | 140,873 | $ | 140,873 | $ | 140,873 | $ | — | $ | — | ||||||||||
Interest‑earning deposits in financial institutions | 250,981 | 250,981 | 250,981 | — | — | |||||||||||||||
Securities available‑for‑sale | 1,595,409 | 1,595,409 | 524 | 1,561,441 | 33,444 | |||||||||||||||
Investment in FHLB stock | 28,905 | 28,905 | — | 28,905 | — | |||||||||||||||
Investments carried at cost | 3,100 | 3,534 | — | — | 3,534 | |||||||||||||||
Investments accounted for under the equity method | 21,226 | 21,475 | — | — | 21,475 | |||||||||||||||
Loans and leases, net | 12,179,788 | 12,280,982 | — | 2,179 | 12,278,803 | |||||||||||||||
Derivative assets | 9,749 | 9,749 | — | 9,749 | — | |||||||||||||||
Financial Liabilities: | ||||||||||||||||||||
Deposits: | ||||||||||||||||||||
Demand, money market, interest checking, and savings deposits | 6,353,376 | 6,353,376 | — | 6,353,376 | — | |||||||||||||||
Time deposits | 5,580,799 | 5,584,088 | — | 5,584,088 | — | |||||||||||||||
Borrowings | 618,156 | 618,351 | 615,000 | 3,351 | — | |||||||||||||||
Subordinated debentures | 431,448 | 415,210 | — | 415,210 | — | |||||||||||||||
31-Dec-14 | ||||||||||||||||||||
Carrying or | Estimated Fair Value | |||||||||||||||||||
Contract | ||||||||||||||||||||
Amount | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
(In thousands) | ||||||||||||||||||||
Financial Assets: | ||||||||||||||||||||
Cash and due from banks | $ | 164,757 | $ | 164,757 | $ | 164,757 | $ | — | $ | — | ||||||||||
Interest‑earning deposits in financial institutions | 148,469 | 148,469 | 148,469 | — | — | |||||||||||||||
Securities available‑for‑sale | 1,567,177 | 1,567,177 | 519 | 1,532,711 | 33,947 | |||||||||||||||
Investment in FHLB stock | 40,609 | 40,609 | — | 40,609 | — | |||||||||||||||
Investments carried at cost | 3,691 | 3,691 | — | — | 3,691 | |||||||||||||||
Investments accounted for under the equity method | 21,461 | 21,700 | — | — | 21,700 | |||||||||||||||
Loans and leases, net | 11,797,977 | 11,757,951 | — | 2,366 | 11,755,585 | |||||||||||||||
Derivative assets | 5,234 | 5,234 | — | 5,234 | — | |||||||||||||||
Financial Liabilities: | ||||||||||||||||||||
Deposits: | ||||||||||||||||||||
Demand, money market, interest checking, and savings deposits | 6,256,190 | 6,256,190 | — | 6,256,190 | — | |||||||||||||||
Time deposits | 5,498,938 | 5,502,479 | — | 5,502,479 | — | |||||||||||||||
Borrowings | 383,402 | 383,539 | 380,000 | 3,539 | — | |||||||||||||||
Subordinated debentures | 433,583 | 417,657 | — | 417,657 | — | |||||||||||||||
Derivative liabilities | 118 | 118 | — | 118 | — | |||||||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2015 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Net Income Per Share | The following table presents the computations of basic and diluted net earnings per share for the periods indicated: | |||||||||||
Three Months Ended | ||||||||||||
31-Mar-15 | 31-Dec-14 | 31-Mar-14 | ||||||||||
(Dollars in thousands, except per share data) | ||||||||||||
Basic earnings per share: | ||||||||||||
Net earnings from continuing operations | $ | 73,079 | $ | 71,057 | $ | 25,905 | ||||||
Less: earnings allocated to unvested restricted stock(1) | (819 | ) | (810 | ) | (500 | ) | ||||||
Net earnings from continuing operations allocated to common shares | 72,260 | 70,247 | 25,405 | |||||||||
Net (loss) earnings from discontinued operations allocated to common shares | — | (57 | ) | (804 | ) | |||||||
Net earnings allocated to common shares | $ | 72,260 | $ | 70,190 | $ | 24,601 | ||||||
Weighted-average basic shares and unvested restricted stock outstanding | 103,035 | 103,045 | 45,799 | |||||||||
Less: weighted-average unvested restricted stock outstanding | (1,122 | ) | (1,132 | ) | (1,148 | ) | ||||||
Weighted-average basic shares outstanding | 101,913 | 101,913 | 44,651 | |||||||||
Basic earnings per share: | ||||||||||||
Net earnings from continuing operations | $ | 0.71 | $ | 0.69 | $ | 0.57 | ||||||
Net loss from discontinued operations | — | — | (0.02 | ) | ||||||||
Net earnings | $ | 0.71 | $ | 0.69 | $ | 0.55 | ||||||
Diluted earnings per share: | ||||||||||||
Net earnings from continuing operations allocated to common shares | $ | 72,260 | $ | 70,247 | $ | 25,405 | ||||||
Net (loss) earnings from discontinued operations allocated to common shares | — | (57 | ) | (804 | ) | |||||||
Net earnings allocated to common shares | $ | 72,260 | $ | 70,190 | $ | 24,601 | ||||||
Weighted-average basic shares outstanding | 101,913 | 101,913 | 44,651 | |||||||||
Diluted earnings per share: | ||||||||||||
Net earnings from continuing operations | $ | 0.71 | $ | 0.69 | $ | 0.57 | ||||||
Net loss from discontinued operations | — | — | (0.02 | ) | ||||||||
Net earnings | $ | 0.71 | $ | 0.69 | $ | 0.55 | ||||||
________________________ | ||||||||||||
-1 | Represents cash dividends paid to holders of unvested restricted stock, net of estimated forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any. |
Business_Segment_Tables
Business Segment (Tables) | 3 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | The following tables present information regarding our business segments as of and for the periods indicated: | |||||||||||||||
31-Mar-15 | ||||||||||||||||
Community | National | Consolidated | ||||||||||||||
Balance Sheet Data: | Banking | Lending | Other | Company | ||||||||||||
(In thousands) | ||||||||||||||||
Loans and leases, net of deferred fees | $ | 3,349,928 | $ | 8,898,843 | $ | 23,395 | $ | 12,272,166 | ||||||||
Allowance for loan and lease losses | (40,906 | ) | (51,472 | ) | — | (92,378 | ) | |||||||||
Total loans and leases, net | $ | 3,309,022 | $ | 8,847,371 | $ | 23,395 | $ | 12,179,788 | ||||||||
Goodwill(1) | $ | 333,979 | $ | 1,394,401 | $ | — | $ | 1,728,380 | ||||||||
Core deposit and customer relationship intangibles, net | 14,918 | 785 | — | 15,703 | ||||||||||||
Total assets | 6,553,028 | 9,905,563 | 185,349 | 16,643,940 | ||||||||||||
Total deposits(2) | 12,252,851 | 35,847 | (354,523 | ) | 11,934,175 | |||||||||||
________________________ | ||||||||||||||||
-1 | The increase in goodwill for the Community Banking segment and National Lending segment compared to March 31, 2014, was due primarily to $1.5 billion from the CapitalSource Inc. merger. | |||||||||||||||
-2 | The negative balance for total deposits in the “Other” segment represents the elimination of holding company cash held in deposit accounts at the Bank. | |||||||||||||||
31-Mar-14 | ||||||||||||||||
Community | National | Consolidated | ||||||||||||||
Balance Sheet Data: | Banking | Lending | Other | Company | ||||||||||||
(In thousands) | ||||||||||||||||
Loans and leases, net of deferred fees | $ | 3,707,308 | $ | 453,759 | $ | — | $ | 4,161,067 | ||||||||
Allowance for loan and lease losses | (74,833 | ) | (6,347 | ) | — | (81,180 | ) | |||||||||
Total loans and leases, net | $ | 3,632,475 | $ | 447,412 | $ | — | $ | 4,079,887 | ||||||||
Goodwill | $ | 183,065 | $ | 25,678 | $ | — | $ | 208,743 | ||||||||
Core deposit and customer relationship intangibles, net | 14,139 | 1,745 | — | 15,884 | ||||||||||||
Total assets | 5,990,162 | 517,126 | 10,565 | 6,517,853 | ||||||||||||
Total deposits(1) | 5,415,691 | — | (46,283 | ) | 5,369,408 | |||||||||||
________________________ | ||||||||||||||||
-1 | The negative balance for total deposits in the “Other” segment represents the elimination of holding company cash held in deposit accounts at the Bank. | |||||||||||||||
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | ||||||||||||||||
Three Months Ended March 31, 2015 | ||||||||||||||||
Community | National | Consolidated | ||||||||||||||
Results of Operations: | Banking | Lending | Other | Company | ||||||||||||
(In thousands) | ||||||||||||||||
Interest income | $ | 62,956 | $ | 151,219 | $ | 139 | $ | 214,314 | ||||||||
Interest expense | (10,661 | ) | (53 | ) | (4,525 | ) | (15,239 | ) | ||||||||
Intersegment interest income (expense) | 6,721 | (6,721 | ) | — | — | |||||||||||
Net interest income (expense) | 59,016 | 144,445 | (4,386 | ) | 199,075 | |||||||||||
Negative provision (provision) for credit losses | 8,064 | (24,406 | ) | (92 | ) | (16,434 | ) | |||||||||
Gain on securities | 3,275 | — | — | 3,275 | ||||||||||||
FDIC loss sharing expense | (4,399 | ) | — | — | (4,399 | ) | ||||||||||
Other noninterest income | 9,575 | 5,142 | 7,278 | 21,995 | ||||||||||||
Total noninterest income | 8,451 | 5,142 | 7,278 | 20,871 | ||||||||||||
Foreclosed assets (expense) income, net | (44 | ) | (61 | ) | (231 | ) | (336 | ) | ||||||||
Intangible asset amortization | (1,389 | ) | (112 | ) | — | (1,501 | ) | |||||||||
Acquisition, integration and reorganization costs | (1,890 | ) | — | (110 | ) | (2,000 | ) | |||||||||
Other noninterest expense | (55,205 | ) | (22,837 | ) | (2,481 | ) | (80,523 | ) | ||||||||
Total noninterest expense | (58,528 | ) | (23,010 | ) | (2,822 | ) | (84,360 | ) | ||||||||
Intersegment noninterest income (expense) | 26,563 | (26,563 | ) | — | — | |||||||||||
Total noninterest expense - adjusted | (31,965 | ) | (49,573 | ) | (2,822 | ) | (84,360 | ) | ||||||||
Earnings (loss) before taxes | 43,566 | 75,608 | (22 | ) | 119,152 | |||||||||||
Income tax (expense) benefit | (16,873 | ) | (29,282 | ) | 82 | (46,073 | ) | |||||||||
Net earnings (loss) | $ | 26,693 | $ | 46,326 | $ | 60 | $ | 73,079 | ||||||||
Three Months Ended December 31, 2014 | ||||||||||||||||
Community | National | Consolidated | ||||||||||||||
Results of Operations: | Banking | Lending | Other | Company | ||||||||||||
(In thousands) | ||||||||||||||||
Interest income | $ | 64,967 | $ | 144,546 | $ | 183 | $ | 209,696 | ||||||||
Interest expense | (10,069 | ) | (46 | ) | (4,598 | ) | (14,713 | ) | ||||||||
Intersegment interest income (expense) | 6,173 | (6,173 | ) | — | — | |||||||||||
Net interest income (expense) | 61,071 | 138,327 | (4,415 | ) | 194,983 | |||||||||||
Negative provision (provision) for credit losses | 9,753 | (11,816 | ) | — | (2,063 | ) | ||||||||||
FDIC loss sharing expense | (4,360 | ) | — | — | (4,360 | ) | ||||||||||
Other noninterest income | 7,025 | 7,330 | 2,708 | 17,063 | ||||||||||||
Total noninterest (expense) income | 2,665 | 7,330 | 2,708 | 12,703 | ||||||||||||
Foreclosed assets expense, net | (2,286 | ) | (18 | ) | 366 | (1,938 | ) | |||||||||
Intangible asset amortization | (1,507 | ) | (112 | ) | — | (1,619 | ) | |||||||||
Acquisition, integration and reorganization costs | (7,381 | ) | — | — | (7,381 | ) | ||||||||||
Other noninterest expense | (51,605 | ) | (24,526 | ) | (4,236 | ) | (80,367 | ) | ||||||||
Total noninterest expense | (62,779 | ) | (24,656 | ) | (3,870 | ) | (91,305 | ) | ||||||||
Intersegment noninterest income (expense) | 21,953 | (21,953 | ) | — | — | |||||||||||
Total noninterest expense - adjusted | (40,826 | ) | (46,609 | ) | (3,870 | ) | (91,305 | ) | ||||||||
Earnings (loss) from continuing operations before taxes | 32,663 | 87,232 | (5,577 | ) | 114,318 | |||||||||||
Income tax (expense) benefit | (13,651 | ) | (34,781 | ) | 5,171 | (43,261 | ) | |||||||||
Net earnings (loss) from continuing operations | 19,012 | 52,451 | (406 | ) | 71,057 | |||||||||||
Loss from discontinued operations before taxes | (105 | ) | — | — | (105 | ) | ||||||||||
Income tax benefit | 47 | — | — | 47 | ||||||||||||
Net loss from discontinued operations | (58 | ) | — | — | (58 | ) | ||||||||||
Net earnings (loss) | $ | 18,954 | $ | 52,451 | $ | (406 | ) | $ | 70,999 | |||||||
Three Months Ended March 31, 2014 | ||||||||||||||||
Community | National | Consolidated | ||||||||||||||
Results of Operations: | Banking | Lending | Other | Company | ||||||||||||
(In thousands) | ||||||||||||||||
Interest income | $ | 77,595 | $ | 10,765 | $ | — | $ | 88,360 | ||||||||
Interest Expense | (1,227 | ) | (77 | ) | (1,041 | ) | (2,345 | ) | ||||||||
Intersegment interest income (expense) | 222 | (222 | ) | — | — | |||||||||||
Net interest income (expense) | 76,590 | 10,466 | (1,041 | ) | 86,015 | |||||||||||
Negative provision (provision) for credit losses | 826 | (182 | ) | — | 644 | |||||||||||
Gain on securities | 4,752 | — | — | 4,752 | ||||||||||||
FDIC loss sharing expense, net | (11,430 | ) | — | — | (11,430 | ) | ||||||||||
Other noninterest income | 6,897 | 4,445 | 27 | 11,369 | ||||||||||||
Total noninterest income | 219 | 4,445 | 27 | 4,691 | ||||||||||||
Foreclosed assets expense, net | 1,861 | — | — | 1,861 | ||||||||||||
Intangible asset amortization | (1,191 | ) | (173 | ) | — | (1,364 | ) | |||||||||
Acquisition, integration and reorganization costs | (2,200 | ) | — | — | (2,200 | ) | ||||||||||
Other noninterest expense | (40,285 | ) | (6,573 | ) | (1,603 | ) | (48,461 | ) | ||||||||
Total noninterest expense | (41,815 | ) | (6,746 | ) | (1,603 | ) | (50,164 | ) | ||||||||
Earnings (loss) from continuing operations before taxes | 35,820 | 7,983 | (2,617 | ) | 41,186 | |||||||||||
Income tax (expense) benefit | (13,039 | ) | (3,331 | ) | 1,089 | (15,281 | ) | |||||||||
Net earnings (loss) from continuing operations | 22,781 | 4,652 | (1,528 | ) | 25,905 | |||||||||||
Loss from discontinued operations before taxes | (1,413 | ) | — | — | (1,413 | ) | ||||||||||
Income tax benefit | 588 | — | — | 588 | ||||||||||||
Net loss from discontinued operations | (825 | ) | — | — | (825 | ) | ||||||||||
Net earnings (loss) | $ | 21,956 | $ | 4,652 | $ | (1,528 | ) | $ | 25,080 | |||||||
Organization_Details
Organization (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | |
bank_branch | |||
General Introduction [Abstract] | |||
Total assets | $16,643,940,000 | $16,234,605,000 | $6,517,853,000 |
Loans and Leases Receivable Gross Carrying Amount Covered And Noncovered | 12,302,292,000 | 11,904,684,000 | |
Total deposits | 11,934,175,000 | 11,755,128,000 | 5,369,408,000 |
Total stockholders' equity | 3,533,361,000 | 3,506,230,000 | |
Number Of Branches | 80 | ||
Number of Businesses Acquired | 27 | ||
Start of Acquisition Activities | 1-May-00 | ||
Square 1 Financial, Inc. Acquisition Plan [Abstract] | |||
Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | |
Square 1 Financial, Inc. [Member] | |||
Square 1 Financial, Inc. Acquisition Plan [Abstract] | |||
Business Acquisition, Date of Acquisition Agreement | 2-Mar-15 | ||
Business Combination, Contingent Consideration, Liability | 849,000,000 | ||
Business Acquisition Shares Receivable By Stockholders Of Acquiree Ratio | 0.5997 | ||
Business Acquisition, Share Price | $27.49 | ||
Common Stock, Par or Stated Value Per Share | $45.84 | ||
Consideration valuation date | 27-Feb-15 | ||
Consolidated Total Assets Proforma Upon Acquisition | 19,800,000,000 | ||
Number of Branches Upon Acquisition | 80 | ||
Retained Earnings [Member] | |||
General Introduction [Abstract] | |||
Total stockholders' equity | -212,633,000 | -285,712,000 | |
Other Organization Information [Abstract] | |||
Cumulative Effect of Prospective Application of New Accounting Principle | ($195,000) |
Discontinued_Operations_Discon1
Discontinued Operations Discontinued Operations (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Liabilities | $13,110,579 | $12,728,375 |
Electronic Payment Systems [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Liabilities | $20,400 | $21,300 |
Acquisitions_Acquisitions_Deta
Acquisitions Acquisitions (Details) (USD $) | 3 Months Ended | 0 Months Ended | ||||
Mar. 31, 2015 | Apr. 07, 2014 | Dec. 31, 2014 | Mar. 31, 2014 | |||
Business Acquisition [Line Items] | ||||||
Equipment leased to others under operating leases | $119,959,000 | $122,506,000 | ||||
Goodwill | 1,728,380,000 | [1] | 1,720,479,000 | 208,743,000 | ||
Proceeds from Sale of Other Receivables | 484,000,000 | |||||
Capitalsource, Inc. [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Cash and due from banks | 768,553,000 | |||||
Interest-earning deposits in financial institutions | 60,612,000 | |||||
Investments securities available-for-sale | 382,797,000 | |||||
FHLB stock | 46,060,000 | |||||
Loans and leases | 6,877,427,000 | |||||
Equipment leased to others under operating leases | 160,015,000 | |||||
Premises and equipment | 12,663,000 | |||||
Foreclosed assets | 6,382,000 | |||||
Income Tax Assets | 304,856,000 | |||||
Goodwill | 1,526,282,000 | |||||
Other intangible assets | 6,720,000 | |||||
Other assets | 582,985,000 | [2] | ||||
Total assets acquired | 10,735,352,000 | |||||
Noninterest-bearing deposits | 4,631,000 | |||||
Interest-bearing deposits | 6,236,419,000 | |||||
Other borrowings | 992,109,000 | |||||
Subordinated Debentures | 300,918,000 | |||||
Accrued interest payable and other liabilities | 124,087,000 | |||||
Total liabilities assumed | 7,658,164,000 | |||||
Total consideration paid | 3,077,188,000 | |||||
Cash paid | 483,118,000 | |||||
PacWest common stock issued | $2,594,070,000 | |||||
[1] | The increase in goodwill for the Community Banking segment and National Lending segment compared to March 31, 2014, was due primarily to $1.5 billion from the CapitalSource Inc. merger. | |||||
[2] | (1) Includes a $484 million receivable for securities sales proceeds. |
Acquisitions_Acquisitions_Deta1
Acquisitions Acquisitions (Details Textuals) (USD $) | 3 Months Ended | 0 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Apr. 07, 2014 | Dec. 31, 2014 | Mar. 31, 2014 | |
Business Acquisition [Line Items] | |||||
Business Acquisition, Effective Date of Acquisition | 7-Apr-14 | ||||
Goodwill | $1,728,380 | [1] | $1,720,479 | $208,743 | |
Capitalsource, Inc. [Member] | |||||
Business Acquisition [Line Items] | |||||
Business Acquisition, Effective Date of Acquisition | 7-Apr-14 | ||||
Goodwill | $1,526,282 | ||||
[1] | The increase in goodwill for the Community Banking segment and National Lending segment compared to March 31, 2014, was due primarily to $1.5 billion from the CapitalSource Inc. merger. |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets Goodwill and Other Intangilbe Assets (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Balance, December 31, 2014 | $1,720,479 | $208,743 | |
Goodwill, Impairment Loss | 7,901 | ||
Balance, March 31, 2015 | $1,728,380 | [1] | $208,743 |
[1] | The increase in goodwill for the Community Banking segment and National Lending segment compared to March 31, 2014, was due primarily to $1.5 billion from the CapitalSource Inc. merger. |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets (Details 1) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | $53,090 | $53,090 | $48,963 |
Finite-Lived Intangible Assets, Accumulated Amortization | -35,886 | -34,267 | -31,715 |
Amortization of Intangible Assets | -1,501 | -1,619 | -1,364 |
Finite-Lived Intangible Assets, Accumulated Amortization | -37,387 | -35,886 | -33,079 |
Finite-Lived Intangible Assets, Net | $15,703 | $17,204 | $15,884 |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets (Details Textual) (USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 4 years 3 months 20 days | |||
Intangible asset amortization | $1,501,000 | $1,619,000 | $1,364,000 | |
Aggregate Amortization Expense 2016 | 4,100,000 | |||
Aggregate Amortization Expense 2017 | 2,300,000 | |||
Aggregate Amortization Expense 2018 | 2,000,000 | |||
Aggregate Amortization Expense 2019 | 1,700,000 | |||
Aggregate Amortization Expense 2020 | 953,000 | |||
Scenario, Forecast [Member] | ||||
Intangible asset amortization | $6,000,000 |
Investments_Details_1
Investments (Details 1) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | $1,547,015 | $1,522,871 |
Available-for-sale Securities, Gross Unrealized Gain | 51,805 | 47,908 |
Available-for-sale Securities, Gross Unrealized Loss | -3,411 | -3,602 |
Securities availablebforbsale | 1,595,409 | 1,567,177 |
Fair Value, Measurements, Recurring [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities availablebforbsale | 1,595,409 | 1,567,177 |
Government agency and government-sponsored enterprise pass through securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 439,696 | 515,902 |
Available-for-sale Securities, Gross Unrealized Gain | 19,327 | 20,142 |
Available-for-sale Securities, Gross Unrealized Loss | -131 | -372 |
Government agency and government-sponsored enterprise pass through securities | Fair Value, Measurements, Recurring [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities availablebforbsale | 458,892 | 535,672 |
Government agency and government-sponsored enterprise collateralized mortgage obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 269,766 | 275,513 |
Available-for-sale Securities, Gross Unrealized Gain | 6,909 | 3,513 |
Available-for-sale Securities, Gross Unrealized Loss | -451 | -1,080 |
Government agency and government-sponsored enterprise collateralized mortgage obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities availablebforbsale | 276,224 | 277,946 |
Covered private label collateralized mortgage obligation [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 26,496 | 26,889 |
Available-for-sale Securities, Gross Unrealized Gain | 7,014 | 7,153 |
Available-for-sale Securities, Gross Unrealized Loss | -66 | -95 |
Covered private label collateralized mortgage obligation [Member] | Fair Value, Measurements, Recurring [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities availablebforbsale | 33,444 | 33,947 |
Other Private Label Collateralized Mortgage Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 9,645 | 10,961 |
Available-for-sale Securities, Gross Unrealized Gain | 52 | 46 |
Available-for-sale Securities, Gross Unrealized Loss | -47 | -93 |
Other Private Label Collateralized Mortgage Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities availablebforbsale | 9,650 | 10,914 |
Municipal securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 579,344 | 521,499 |
Available-for-sale Securities, Gross Unrealized Gain | 15,708 | 15,899 |
Available-for-sale Securities, Gross Unrealized Loss | -2,199 | -1,282 |
Municipal securities | Fair Value, Measurements, Recurring [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities availablebforbsale | 592,853 | 536,116 |
Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 47,485 | 110,074 |
Available-for-sale Securities, Gross Unrealized Gain | 683 | 597 |
Available-for-sale Securities, Gross Unrealized Loss | -423 | -562 |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities availablebforbsale | 47,745 | 110,109 |
Collateralized Loan Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 112,883 | 0 |
Available-for-sale Securities, Gross Unrealized Gain | 922 | 0 |
Available-for-sale Securities, Gross Unrealized Loss | 0 | 0 |
Securities availablebforbsale | 0 | |
Collateralized Loan Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities availablebforbsale | 113,805 | |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 36,249 | 36,232 |
Available-for-sale Securities, Gross Unrealized Gain | 1,156 | 525 |
Available-for-sale Securities, Gross Unrealized Loss | 0 | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities availablebforbsale | 37,405 | 36,757 |
Other securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 25,451 | 25,801 |
Available-for-sale Securities, Gross Unrealized Gain | 34 | 33 |
Available-for-sale Securities, Gross Unrealized Loss | -94 | -118 |
Other securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities availablebforbsale | $25,391 | $25,716 |
Investments_Details_2
Investments (Details 2) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | $150,881 | $106,602 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | -1,866 | -882 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 74,198 | 173,724 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | -1,545 | -2,720 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | 225,079 | 280,326 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | -3,411 | -3,602 |
Government agency and government-sponsored enterprise pass through securities | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 5,031 | 10,711 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | -42 | -13 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 10,085 | 27,100 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | -89 | -359 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | 15,116 | 37,811 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | -131 | -372 |
Government agency and government-sponsored enterprise collateralized mortgage obligations [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 0 | 23,908 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | -73 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 14,403 | 40,652 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | -451 | -1,007 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | 14,403 | 64,560 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | -451 | -1,080 |
Covered private label collateralized mortgage obligation [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 726 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | -6 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 643 | 1,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | -60 | -95 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | 1,369 | 1,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | -66 | -95 |
Other Private Label Collateralized Mortgage Obligations [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 1,206 | 1,618 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | -46 | -93 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 360 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | -1 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | 1,566 | 1,618 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | -47 | -93 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 112,361 | 11,854 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | -1,277 | -66 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 38,687 | 84,822 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | -922 | -1,216 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | 151,048 | 96,676 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | -2,199 | -1,282 |
Corporate Debt Securities [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 25,104 | 52,071 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | -423 | -547 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 0 | 10,131 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | -15 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | 25,104 | 62,202 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | -423 | -562 |
Other securities [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 6,453 | 6,440 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | -72 | -90 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 10,020 | 10,019 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | -22 | -28 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | 16,473 | 16,459 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | ($94) | ($118) |
Investments_Details_3
Investments (Details 3) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Available-for-sale Securities, Amortized Cost Basis [Abstract] | ||
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis | $18,358 | |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 76,173 | |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 276,933 | |
Available-for-sale Securities, Debt Maturities, after Ten Years, Amortized Cost Basis | 1,175,551 | |
Available-for-sale Securities, Amortized Cost Basis | 1,547,015 | 1,522,871 |
Fair Value Disclosures [Abstract] | ||
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 18,538 | |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 76,515 | |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value | 287,023 | |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 1,213,333 | |
Available-for-sale Securities | $1,595,409 | $1,567,177 |
Investments_Investments_Detail
Investments Investments (Details 4) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
Net Investment Income [Line Items] | |||
Interest Income, Securities, Operating, Taxable | $7,473 | $7,697 | $6,920 |
Interest Income, Securities, Operating, Tax Exempt | 3,894 | 3,593 | 3,328 |
Investment Income, Dividend | 828 | 915 | 575 |
Investment Income, Interest and Dividend | $12,195 | $12,205 | $10,823 |
Investments_Details_Textual
Investments (Details Textual) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | |||
Available For Sale Securities Pledged As Collateral Amortized Cost | $354,700,000 | ||
Payments to Acquire Investments | -196,600,000 | -140,000,000 | |
Proceeds from Sale of Available-for-sale Securities | 144,945,000 | 142,041,000 | |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 2,364,000 | 5,559,000 | 10,172,000 |
Federal Home Loan Bank stock, at cost | 28,905,000 | 40,609,000 | |
Net change in FLHB Stock | 11,704,000 | 2,939,000 | |
Redemptions of FHLB stock | 15,600,000 | ||
Purchases of FHLB Stock | -3,900,000 | ||
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Reclassification Adjustments, Net of Tax | 4,258,000 | 5,559,000 | 12,928,000 |
Government agency and government-sponsored enterprise pass through securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Proceeds from Sale of Available-for-sale Securities | 60,300,000 | 137,300,000 | |
Available-for-sale Securities, Gross Realized Gains | 4,800,000 | ||
Government agency and government-sponsored enterprise pass through securities | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available-for-sale Securities, Gross Realized Gains | 2,600,000 | ||
Texas Municipal Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Proceeds from Sale of Available-for-sale Securities | 13,900,000 | ||
Available-for-sale Securities, Gross Realized Gains | 883,000 | ||
Corporate Debt Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Proceeds from Sale of Available-for-sale Securities | 67,500,000 | ||
Available-for-sale Securities, Gross Realized Losses | ($232,000) |
Loans_and_Credit_Quality_Detai
Loans and Credit Quality (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Non-PCI loans and leases | $12,047,946 | $11,904,684 | ||
PCI loans | 254,285 | 290,791 | ||
Loans and Leases Receivable, Deferred Income | -30,126 | -22,252 | ||
Loans held for investment, net | 12,272,166 | 11,882,432 | 4,161,067 | |
Loans and Leases Receivable, Allowance | -92,378 | -81,180 | ||
Loans and leases, net | 12,179,788 | 11,797,977 | ||
Loans and Leases Receivable, Net Reported Amount, Covered | 241,587 | 276,792 | ||
Total loans and leases, net | 12,179,788 | 11,797,977 | 4,079,887 | |
Mortgage Loans on Real Estate [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Non-PCI loans and leases | 5,828,439 | 5,607,316 | ||
PCI loans | 226,502 | 256,489 | ||
Loans and Leases Receivable, Allowance | -30,911 | -24,352 | ||
Real Estate Construction [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Non-PCI loans and leases | 333,005 | 316,086 | ||
PCI loans | 1,897 | 6,924 | ||
Loans and Leases Receivable, Allowance | -2,173 | -4,103 | ||
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Non-PCI loans and leases | 6,046,946 | 5,879,575 | ||
PCI loans | 25,664 | 27,155 | ||
Loans and Leases Receivable, Allowance | -45,794 | -27,740 | ||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Non-PCI loans and leases | 93,902 | 101,707 | ||
PCI loans | 283 | 284 | ||
Loans and Leases Receivable, Allowance | -802 | -3,785 | ||
NonCovered [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Non-PCI loans and leases | 11,613,832 | |||
Loans and Leases Receivable, Deferred Income | -30,065 | -22,191 | ||
Loans held for investment, net | 12,017,881 | 11,591,641 | 3,828,551 | |
Loans and Leases Receivable, Allowance | -79,680 | -70,456 | -59,980 | -60,241 |
Loans and leases, net | 11,938,201 | 11,521,185 | ||
NonCovered [Member] | Mortgage Loans on Real Estate [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Non-PCI loans and leases | 5,601,937 | 5,350,827 | ||
Loans held for investment, net | 5,588,430 | 5,340,560 | 2,320,554 | |
Loans and Leases Receivable, Allowance | -25,097 | -26,078 | ||
NonCovered [Member] | Real Estate Construction [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Non-PCI loans and leases | 331,108 | 309,162 | ||
Loans held for investment, net | 328,709 | 307,135 | 240,073 | |
Loans and Leases Receivable, Allowance | -4,248 | -4,298 | ||
NonCovered [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Non-PCI loans and leases | 6,021,282 | 5,852,420 | ||
Loans held for investment, net | 6,007,067 | 5,842,463 | 1,201,142 | |
Loans and Leases Receivable, Allowance | -39,858 | -26,921 | ||
NonCovered [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Non-PCI loans and leases | 93,619 | 101,423 | ||
Loans held for investment, net | 93,675 | 101,483 | 66,782 | |
Loans and Leases Receivable, Allowance | -1,253 | -2,944 | ||
Purchased Credit Impaired Loans and Leases [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
PCI loans | 254,346 | 290,852 | ||
Loans and Leases Receivable, Deferred Income | -61 | -61 | ||
Loans held for investment, net | 254,285 | 290,791 | 332,516 | |
Loans and Leases Receivable, Allowance, Covered | -12,698 | -13,999 | -21,200 | -21,793 |
Loans and Leases Receivable, Net Reported Amount, Covered | 241,587 | 276,792 | ||
NonPCI and PCI Loans [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Non-PCI loans and leases | $12,302,292 |
Loans_and_Credit_Quality_Detai1
Loans and Credit Quality (Details 1) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 |
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans and Leases Receivable, Allowance | $92,378 | $81,180 | ||
Allowance for loan and lease losses | 92,378 | 81,180 | 84,455 | 82,034 |
Allowance for Loan and Lease Losses, Write-offs | -10,490 | -1,550 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 2,542 | 740 | ||
Provision for Loan and Lease Losses | 15,871 | -44 | ||
Loans and Leases Receivable, Net of Deferred Income | 12,272,166 | 4,161,067 | 11,882,432 | |
Loans and Leases Receivable Net Of Deferred Income Covered And Noncovered | 12,272,166 | 4,161,067 | ||
Mortgage Loans on Real Estate [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans and Leases Receivable, Allowance | 30,911 | 24,352 | ||
Real Estate Construction [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans and Leases Receivable, Allowance | 2,173 | 4,103 | ||
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans and Leases Receivable, Allowance | 45,794 | 27,740 | ||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans and Leases Receivable, Allowance | 802 | 3,785 | ||
Purchased Credit Impaired Loans and Leases [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans and Leases Receivable, Allowance, Covered | 12,698 | 21,200 | 13,999 | 21,793 |
Allowance for Loan and Lease Losses, Write-offs | -579 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 11 | 51 | ||
Provision for Loan and Lease Losses | -733 | -644 | ||
Financing Receivable, Allowance for Credit Losses, Acquired with Deteriorated Credit Quality | 12,698 | 21,200 | ||
Loans and Leases Receivable, Net of Deferred Income | 254,285 | 332,516 | 290,791 | |
Financing Receivable, Acquired with Deteriorated Credit Quality | 254,285 | 332,516 | ||
NonCovered [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans and Leases Receivable, Allowance | 79,680 | 59,980 | 70,456 | 60,241 |
Impaired Financing Receivable, Related Allowance | 12,226 | 10,774 | ||
Allowance for Loan and Lease Losses, Write-offs | -9,911 | -1,550 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 2,531 | 689 | ||
Provision for Loan and Lease Losses | 16,604 | 600 | ||
Financing Receivable, Individually Evaluated for Impairment | 12,226 | 8,665 | ||
Financing Receivable, Collectively Evaluated for Impairment | 67,454 | 51,315 | ||
Loans and Leases Receivable, Net of Deferred Income | 12,017,881 | 3,828,551 | 11,591,641 | |
Financing Receivable, Individually Evaluated for Impairment | 175,309 | 93,222 | ||
Financing Receivable, Collectively Evaluated for Impairment | 11,842,572 | 3,735,329 | ||
NonCovered [Member] | Mortgage Loans on Real Estate [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans and Leases Receivable, Allowance | 25,097 | 26,078 | ||
Impaired Financing Receivable, Related Allowance | 1,500 | 693 | ||
Allowance for Loan and Lease Losses, Write-offs | -1,453 | -94 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 1,295 | 261 | ||
Provision for Loan and Lease Losses | 5,972 | -1,893 | ||
Financing Receivable, Individually Evaluated for Impairment | 2,690 | |||
Financing Receivable, Collectively Evaluated for Impairment | 29,411 | 21,662 | ||
Loans and Leases Receivable, Net of Deferred Income | 5,588,430 | 2,320,554 | 5,340,560 | |
Financing Receivable, Individually Evaluated for Impairment | 59,733 | 58,532 | ||
Financing Receivable, Collectively Evaluated for Impairment | 5,528,697 | 2,262,022 | ||
NonCovered [Member] | Real Estate Construction [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans and Leases Receivable, Allowance | 4,248 | 4,298 | ||
Impaired Financing Receivable, Related Allowance | 69 | |||
Allowance for Loan and Lease Losses, Write-offs | 0 | 0 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 632 | 24 | ||
Provision for Loan and Lease Losses | -2,707 | -219 | ||
Financing Receivable, Individually Evaluated for Impairment | 55 | 251 | ||
Financing Receivable, Collectively Evaluated for Impairment | 2,118 | 3,852 | ||
Loans and Leases Receivable, Net of Deferred Income | 328,709 | 240,073 | 307,135 | |
Financing Receivable, Individually Evaluated for Impairment | 8,639 | 12,926 | ||
Financing Receivable, Collectively Evaluated for Impairment | 320,070 | 227,147 | ||
NonCovered [Member] | Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans and Leases Receivable, Allowance | 39,858 | 26,921 | ||
Impaired Financing Receivable, Related Allowance | 9,975 | |||
Allowance for Loan and Lease Losses, Write-offs | -8,395 | -1,441 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 410 | 377 | ||
Provision for Loan and Lease Losses | 13,921 | 1,883 | ||
Financing Receivable, Individually Evaluated for Impairment | 10,493 | 5,337 | ||
Financing Receivable, Collectively Evaluated for Impairment | 35,301 | 22,403 | ||
Loans and Leases Receivable, Net of Deferred Income | 6,007,067 | 1,201,142 | 5,842,463 | |
Financing Receivable, Individually Evaluated for Impairment | 103,208 | 17,792 | ||
Financing Receivable, Collectively Evaluated for Impairment | 5,903,859 | 1,183,350 | ||
NonCovered [Member] | Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Loans and Leases Receivable, Allowance | 1,253 | 2,944 | ||
Impaired Financing Receivable, Related Allowance | 178 | 37 | ||
Allowance for Loan and Lease Losses, Write-offs | -63 | -15 | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 194 | 27 | ||
Provision for Loan and Lease Losses | -582 | 829 | ||
Financing Receivable, Individually Evaluated for Impairment | 178 | 387 | 37 | |
Financing Receivable, Collectively Evaluated for Impairment | 624 | 3,398 | ||
Loans and Leases Receivable, Net of Deferred Income | 93,675 | 66,782 | 101,483 | |
Financing Receivable, Individually Evaluated for Impairment | 3,729 | 3,972 | ||
Financing Receivable, Collectively Evaluated for Impairment | $89,946 | $62,810 |
Loans_and_Credit_Quality_Detai2
Loans and Credit Quality (Details 2) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | $12,272,166 | $11,882,432 | $4,161,067 |
NonCovered [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 12,017,881 | 11,591,641 | 3,828,551 |
NonCovered [Member] | Mortgage Loans on Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 5,588,430 | 5,340,560 | 2,320,554 |
NonCovered [Member] | Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 328,709 | 307,135 | 240,073 |
NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 6,007,067 | 5,842,463 | 1,201,142 |
NonCovered [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 93,675 | 101,483 | 66,782 |
NonCovered [Member] | Nonclassified [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 333,182 | 242,611 | |
NonCovered [Member] | Nonclassified [Member] | Hospitality [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 16,928 | 17,761 | |
NonCovered [Member] | Nonclassified [Member] | SBA Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 10,919 | 11,141 | |
NonCovered [Member] | Nonclassified [Member] | Real Estate Other Class [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 69,859 | 68,084 | |
NonCovered [Member] | Nonclassified [Member] | Mortgage Loans on Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 97,706 | 96,986 | |
NonCovered [Member] | Nonclassified [Member] | Residential Real Estate Construction Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 398 | 402 | |
NonCovered [Member] | Nonclassified [Member] | Commercial Real Estate Construction Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,456 | 3,346 | |
NonCovered [Member] | Nonclassified [Member] | Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,854 | 3,748 | |
NonCovered [Member] | Nonclassified [Member] | Collateralized Loan Obligations [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 21,265 | 22,433 | |
NonCovered [Member] | Nonclassified [Member] | Unsecured Commercial Member [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,267 | 1,323 | |
NonCovered [Member] | Nonclassified [Member] | Asset Based [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 11,304 | 11,547 | |
NonCovered [Member] | Nonclassified [Member] | Cash Flow [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 105,763 | 83,321 | |
NonCovered [Member] | Nonclassified [Member] | Equipment Finance Commercial Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 86,938 | 15,973 | |
NonCovered [Member] | Nonclassified [Member] | SBA Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 3,128 | 3,207 | |
NonCovered [Member] | Nonclassified [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 229,665 | 137,804 | |
NonCovered [Member] | Nonclassified [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 3,957 | 4,073 | |
NonCovered [Member] | Classified [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 11,684,699 | 11,349,030 | |
NonCovered [Member] | Classified [Member] | Hospitality [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 595,161 | 542,458 | |
NonCovered [Member] | Classified [Member] | SBA Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 377,857 | 364,786 | |
NonCovered [Member] | Classified [Member] | Real Estate Other Class [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 4,517,706 | 4,336,330 | |
NonCovered [Member] | Classified [Member] | Mortgage Loans on Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 5,490,724 | 5,243,574 | |
NonCovered [Member] | Classified [Member] | Residential Real Estate Construction Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 121,918 | 96,326 | |
NonCovered [Member] | Classified [Member] | Commercial Real Estate Construction Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 204,937 | 207,061 | |
NonCovered [Member] | Classified [Member] | Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 326,855 | 303,387 | |
NonCovered [Member] | Classified [Member] | Collateralized Loan Obligations [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 373,123 | 416,754 | |
NonCovered [Member] | Classified [Member] | Unsecured Commercial Member [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 142,047 | 130,501 | |
NonCovered [Member] | Classified [Member] | Asset Based [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,708,473 | 1,783,304 | |
NonCovered [Member] | Classified [Member] | Cash Flow [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 2,687,421 | 2,376,530 | |
NonCovered [Member] | Classified [Member] | Equipment Finance Commercial Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 827,078 | 953,516 | |
NonCovered [Member] | Classified [Member] | SBA Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 39,260 | 44,054 | |
NonCovered [Member] | Classified [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 5,777,402 | 5,704,659 | |
NonCovered [Member] | Classified [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 89,718 | 97,410 | |
Collateralized Loan Obligations [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 394,388 | 439,187 | |
Unsecured Commercial Member [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 143,314 | 131,824 | |
Asset Based [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,719,777 | 1,794,851 | |
Cash Flow [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 2,793,184 | 2,459,851 | |
Equipment Finance Commercial Financing Receivable [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 914,016 | 969,489 | |
SBA Financing Receivable [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 42,388 | 47,261 | |
Residential Real Estate Construction Financing Receivable [Member] | NonCovered [Member] | Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 122,316 | 96,728 | |
Commercial Real Estate Construction Financing Receivable [Member] | NonCovered [Member] | Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 206,393 | 210,407 | |
Hospitality [Member] | NonCovered [Member] | Mortgage Loans on Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 612,089 | 560,219 | |
SBA Loans [Member] | NonCovered [Member] | Mortgage Loans on Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 388,776 | 375,927 | |
Real Estate Other Class [Member] | NonCovered [Member] | Mortgage Loans on Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | $4,587,565 | $4,404,414 |
Loans_and_Credit_Quality_Detai3
Loans and Credit Quality (Details 3) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Delinquent loans in loan portfolio | |||
30-89 Days Past Due | $21,700 | $8,700 | |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 15,800 | 18,800 | |
Loans held for investment, net | 12,272,166 | 11,882,432 | 4,161,067 |
NonCovered [Member] | |||
Delinquent loans in loan portfolio | |||
30-89 Days Past Due | 37,804 | 19,406 | |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 15,804 | 18,818 | |
Financing Receivable, Recorded Investment, Past Due | 53,608 | 38,224 | |
Current | 11,964,273 | 11,553,417 | |
Loans held for investment, net | 12,017,881 | 11,591,641 | 3,828,551 |
NonCovered [Member] | Mortgage Loans on Real Estate [Member] | |||
Delinquent loans in loan portfolio | |||
30-89 Days Past Due | 11,816 | 11,628 | |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 10,806 | 11,987 | |
Financing Receivable, Recorded Investment, Past Due | 22,622 | 23,615 | |
Current | 5,565,808 | 5,316,945 | |
Loans held for investment, net | 5,588,430 | 5,340,560 | 2,320,554 |
NonCovered [Member] | Real Estate Construction [Member] | |||
Delinquent loans in loan portfolio | |||
30-89 Days Past Due | 0 | 0 | |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | 715 | |
Financing Receivable, Recorded Investment, Past Due | 0 | 715 | |
Current | 328,709 | 306,420 | |
Loans held for investment, net | 328,709 | 307,135 | 240,073 |
NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Delinquent loans in loan portfolio | |||
30-89 Days Past Due | 25,979 | 7,677 | |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 1,802 | 2,970 | |
Financing Receivable, Recorded Investment, Past Due | 27,781 | 10,647 | |
Current | 5,979,286 | 5,831,816 | |
Loans held for investment, net | 6,007,067 | 5,842,463 | 1,201,142 |
NonCovered [Member] | Consumer Portfolio Segment [Member] | |||
Delinquent loans in loan portfolio | |||
Loans held for investment, net | 93,675 | 101,483 | 66,782 |
Consumer Financing Receivable [Member] | NonCovered [Member] | Consumer Portfolio Segment [Member] | |||
Delinquent loans in loan portfolio | |||
30-89 Days Past Due | 9 | 101 | |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 3,196 | 3,146 | |
Financing Receivable, Recorded Investment, Past Due | 3,205 | 3,247 | |
Current | 90,470 | 98,236 | |
Loans held for investment, net | 101,483 | ||
Collateralized Loan Obligations [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Delinquent loans in loan portfolio | |||
30-89 Days Past Due | 1,782 | 878 | |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 424 | 965 | |
Financing Receivable, Recorded Investment, Past Due | 2,206 | 1,843 | |
Current | 392,182 | 437,344 | |
Loans held for investment, net | 394,388 | 439,187 | |
Unsecured Commercial Member [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Delinquent loans in loan portfolio | |||
30-89 Days Past Due | 0 | 69 | |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 16 | 45 | |
Financing Receivable, Recorded Investment, Past Due | 16 | 114 | |
Current | 143,298 | 131,710 | |
Loans held for investment, net | 143,314 | 131,824 | |
Asset Based [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Delinquent loans in loan portfolio | |||
30-89 Days Past Due | 0 | 0 | |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | 0 | |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | |
Current | 1,719,777 | 1,794,851 | |
Loans held for investment, net | 1,719,777 | 1,794,851 | |
Cash Flow [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Delinquent loans in loan portfolio | |||
30-89 Days Past Due | 0 | 0 | |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | 232 | |
Financing Receivable, Recorded Investment, Past Due | 0 | 232 | |
Current | 2,793,184 | 2,459,619 | |
Loans held for investment, net | 2,793,184 | 2,459,851 | |
Equipment Finance Commercial Financing Receivable [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Delinquent loans in loan portfolio | |||
30-89 Days Past Due | 23,409 | 6,525 | |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | 366 | |
Financing Receivable, Recorded Investment, Past Due | 23,409 | 6,891 | |
Current | 890,607 | 962,598 | |
Loans held for investment, net | 914,016 | 969,489 | |
SBA Financing Receivable [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Delinquent loans in loan portfolio | |||
30-89 Days Past Due | 788 | 205 | |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 1,362 | 1,362 | |
Financing Receivable, Recorded Investment, Past Due | 2,150 | 1,567 | |
Current | 40,238 | 45,694 | |
Loans held for investment, net | 42,388 | 47,261 | |
Residential Real Estate Construction Financing Receivable [Member] | NonCovered [Member] | Real Estate Construction [Member] | |||
Delinquent loans in loan portfolio | |||
30-89 Days Past Due | 0 | 0 | |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | 0 | |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | |
Current | 122,316 | 96,728 | |
Loans held for investment, net | 122,316 | 96,728 | |
Commercial Real Estate Construction Financing Receivable [Member] | NonCovered [Member] | Real Estate Construction [Member] | |||
Delinquent loans in loan portfolio | |||
30-89 Days Past Due | 0 | 0 | |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | 715 | |
Financing Receivable, Recorded Investment, Past Due | 0 | 715 | |
Current | 206,393 | 209,692 | |
Loans held for investment, net | 206,393 | 210,407 | |
Hospitality [Member] | NonCovered [Member] | Mortgage Loans on Real Estate [Member] | |||
Delinquent loans in loan portfolio | |||
30-89 Days Past Due | 0 | 0 | |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | 0 | |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 | |
Current | 612,089 | 560,219 | |
Loans held for investment, net | 612,089 | 560,219 | |
SBA Loans [Member] | NonCovered [Member] | Mortgage Loans on Real Estate [Member] | |||
Delinquent loans in loan portfolio | |||
30-89 Days Past Due | 5,582 | 5,530 | |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 5,487 | 4,357 | |
Financing Receivable, Recorded Investment, Past Due | 11,069 | 9,887 | |
Current | 377,707 | 366,040 | |
Loans held for investment, net | 388,776 | 375,927 | |
Real Estate Other Class [Member] | NonCovered [Member] | Mortgage Loans on Real Estate [Member] | |||
Delinquent loans in loan portfolio | |||
30-89 Days Past Due | 6,234 | 6,098 | |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 5,319 | 7,630 | |
Financing Receivable, Recorded Investment, Past Due | 11,553 | 13,728 | |
Current | 4,576,012 | 4,390,686 | |
Loans held for investment, net | $4,587,565 | $4,404,414 |
Loans_and_Credit_Quality_Detai4
Loans and Credit Quality (Details 4) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | $12,272,166 | $11,882,432 | $4,161,067 |
Non-PCI nonaccrual loans | 139,334 | 83,621 | |
NonCovered [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 12,017,881 | 11,591,641 | 3,828,551 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 139,334 | 83,621 | |
Non-PCI nonaccrual loans | 11,591,641 | ||
NonCovered [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 93,675 | 101,483 | 66,782 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,474 | 3,485 | |
NonCovered [Member] | Mortgage Loans on Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 5,588,430 | 5,340,560 | 2,320,554 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 37,335 | 37,612 | |
NonCovered [Member] | Real Estate Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 328,709 | 307,135 | 240,073 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 832 | 1,559 | |
NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 6,007,067 | 5,842,463 | 1,201,142 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 97,693 | 40,965 | |
Nonperforming Financing Receivable [Member] | NonCovered [Member] | Hospitality [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 8,088 | 6,366 | |
Nonperforming Financing Receivable [Member] | NonCovered [Member] | SBA Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 10,919 | 11,141 | |
Nonperforming Financing Receivable [Member] | NonCovered [Member] | Real Estate Other Class [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 18,328 | 20,105 | |
Nonperforming Financing Receivable [Member] | NonCovered [Member] | Residential Real Estate Construction Financing Receivable [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 379 | 381 | |
Nonperforming Financing Receivable [Member] | NonCovered [Member] | Commercial Real Estate Construction Financing Receivable [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 453 | 1,178 | |
Nonperforming Financing Receivable [Member] | NonCovered [Member] | Collateralized Loan Obligations [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 3,601 | 5,450 | |
Nonperforming Financing Receivable [Member] | NonCovered [Member] | Unsecured Commercial Member [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 594 | 639 | |
Nonperforming Financing Receivable [Member] | NonCovered [Member] | Asset Based [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 4,159 | 4,574 | |
Nonperforming Financing Receivable [Member] | NonCovered [Member] | Cash Flow [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 15,172 | 15,964 | |
Nonperforming Financing Receivable [Member] | NonCovered [Member] | Equipment Finance Commercial Financing Receivable [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 71,039 | 11,131 | |
Nonperforming Financing Receivable [Member] | NonCovered [Member] | SBA Financing Receivable [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 3,128 | 3,207 | |
Nonperforming Financing Receivable [Member] | NonCovered [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 3,485 | ||
Nonperforming Financing Receivable [Member] | NonCovered [Member] | Mortgage Loans on Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 37,612 | ||
Nonperforming Financing Receivable [Member] | NonCovered [Member] | Real Estate Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,559 | ||
Nonperforming Financing Receivable [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 40,965 | ||
Performing Financing Receivable [Member] | NonCovered [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Non-PCI nonaccrual loans | 11,878,547 | 11,508,020 | |
Performing Financing Receivable [Member] | NonCovered [Member] | Hospitality [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 604,001 | 553,853 | |
Performing Financing Receivable [Member] | NonCovered [Member] | SBA Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 377,857 | 364,786 | |
Performing Financing Receivable [Member] | NonCovered [Member] | Real Estate Other Class [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 4,569,237 | 4,384,309 | |
Performing Financing Receivable [Member] | NonCovered [Member] | Residential Real Estate Construction Financing Receivable [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 121,937 | 96,347 | |
Performing Financing Receivable [Member] | NonCovered [Member] | Commercial Real Estate Construction Financing Receivable [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 205,940 | 209,229 | |
Performing Financing Receivable [Member] | NonCovered [Member] | Collateralized Loan Obligations [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 390,787 | 433,737 | |
Performing Financing Receivable [Member] | NonCovered [Member] | Unsecured Commercial Member [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 142,720 | 131,185 | |
Performing Financing Receivable [Member] | NonCovered [Member] | Asset Based [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,715,618 | 1,790,277 | |
Performing Financing Receivable [Member] | NonCovered [Member] | Cash Flow [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 2,778,012 | 2,443,887 | |
Performing Financing Receivable [Member] | NonCovered [Member] | Equipment Finance Commercial Financing Receivable [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 842,977 | 958,358 | |
Performing Financing Receivable [Member] | NonCovered [Member] | SBA Financing Receivable [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 39,260 | 44,054 | |
Performing Financing Receivable [Member] | NonCovered [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 90,201 | 97,998 | |
Performing Financing Receivable [Member] | NonCovered [Member] | Mortgage Loans on Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 5,551,095 | 5,302,948 | |
Performing Financing Receivable [Member] | NonCovered [Member] | Real Estate Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 327,877 | 305,576 | |
Performing Financing Receivable [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 5,909,374 | 5,801,498 | |
Collateralized Loan Obligations [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 394,388 | 439,187 | |
Unsecured Commercial Member [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 143,314 | 131,824 | |
Asset Based [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,719,777 | 1,794,851 | |
Cash Flow [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 2,793,184 | 2,459,851 | |
Equipment Finance Commercial Financing Receivable [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 914,016 | 969,489 | |
SBA Financing Receivable [Member] | NonCovered [Member] | Commercial Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 42,388 | 47,261 | |
Residential Real Estate Construction Financing Receivable [Member] | NonCovered [Member] | Real Estate Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 122,316 | 96,728 | |
Commercial Real Estate Construction Financing Receivable [Member] | NonCovered [Member] | Real Estate Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 206,393 | 210,407 | |
Hospitality [Member] | NonCovered [Member] | Mortgage Loans on Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 612,089 | 560,219 | |
SBA Loans [Member] | NonCovered [Member] | Mortgage Loans on Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 388,776 | 375,927 | |
Real Estate Other Class [Member] | NonCovered [Member] | Mortgage Loans on Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | $4,587,565 | $4,404,414 |
Loans_and_Credit_Quality_Loans
Loans and Credit Quality Loans and Credit Quality (Details 5) (NonCovered [Member], USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Schedule Of Non Accrual and Performing Restructured Impaired Financing Receivables [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | $139,334 | $83,621 |
Impaired Financing Receivable Performing Restructured Loans | 35,975 | 35,244 |
Impaired Financing Receivable, Recorded Investment | 175,309 | 118,865 |
Mortgage Loans on Real Estate [Member] | ||
Schedule Of Non Accrual and Performing Restructured Impaired Financing Receivables [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 37,335 | 37,612 |
Impaired Financing Receivable Performing Restructured Loans | 22,398 | 20,245 |
Impaired Financing Receivable, Recorded Investment | 59,733 | 57,857 |
Real Estate Construction [Member] | ||
Schedule Of Non Accrual and Performing Restructured Impaired Financing Receivables [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 832 | 1,559 |
Impaired Financing Receivable Performing Restructured Loans | 7,807 | 8,996 |
Impaired Financing Receivable, Recorded Investment | 8,639 | 10,555 |
Commercial Portfolio Segment [Member] | ||
Schedule Of Non Accrual and Performing Restructured Impaired Financing Receivables [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 97,693 | 40,965 |
Impaired Financing Receivable Performing Restructured Loans | 5,515 | 5,744 |
Impaired Financing Receivable, Recorded Investment | 103,208 | 46,709 |
Consumer Portfolio Segment [Member] | ||
Schedule Of Non Accrual and Performing Restructured Impaired Financing Receivables [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,474 | 3,485 |
Impaired Financing Receivable Performing Restructured Loans | 255 | 259 |
Impaired Financing Receivable, Recorded Investment | $3,729 | $3,744 |
Loans_and_Credit_Quality_Detai5
Loans and Credit Quality (Details 6) (NonCovered [Member], USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Sep. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2014 |
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, Related Allowance | $12,226 | $10,774 | ||
Impaired Financing Receivable, Recorded Investment | 175,309 | 118,865 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 209,948 | 150,620 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 12,226 | 8,665 | ||
Impaired Financing Receivable, Average Recorded Investment | 113,090 | 74,904 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 657 | 281 | ||
Financing Receivable, Individually Evaluated for Impairment | 175,309 | 93,222 | ||
Hospitality [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,930 | 1,946 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 1,930 | 1,945 | ||
Impaired Financing Receivable, Related Allowance | 31 | 47 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 8,088 | 6,366 | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 10,096 | 7,593 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 1,930 | 5,658 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 19 | 20 | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 7,836 | 2,971 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | ||
SBA Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | 0 | ||
Impaired Financing Receivable, Related Allowance | 0 | 0 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 10,919 | 11,141 | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 15,030 | 14,708 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 1,092 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 15 | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 9,836 | 2,519 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | ||
Real Estate Mortgage Other Receivable [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 12,986 | 9,136 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 13,169 | 9,233 | ||
Impaired Financing Receivable, Related Allowance | 1,469 | 646 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 25,810 | 29,268 | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 39,548 | 40,643 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 12,783 | 16,174 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 136 | 119 | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 24,219 | 23,549 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 80 | 63 | ||
Residential Real Estate Construction Financing Receivable [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 759 | 763 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 759 | 763 | ||
Impaired Financing Receivable, Related Allowance | 41 | 46 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 20 | 21 | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 19 | 19 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 759 | 774 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 4 | 4 | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 20 | 0 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 403 | 1,128 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 401 | 4,934 | ||
Impaired Financing Receivable, Related Allowance | 14 | 23 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 7,457 | 8,643 | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 7,571 | 8,749 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 403 | 5 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 5 | 0 | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 7,457 | 5,491 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 271 | 25 | ||
Collateralized Loan Obligations [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 4,811 | 4,630 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 5,486 | 5,246 | ||
Impaired Financing Receivable, Related Allowance | 3,497 | 3,771 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 3,324 | 5,566 | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 4,234 | 6,877 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 4,646 | 3,765 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 33 | 6 | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 3,324 | 4,861 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 48 | 6 | ||
Unsecured Commercial Member [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,055 | 912 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 1,067 | 924 | ||
Impaired Financing Receivable, Related Allowance | 913 | 799 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 519 | 725 | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 564 | 809 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 1,055 | 742 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 11 | 6 | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 519 | 326 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 1 | 0 | ||
Asset Based [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 47 | 137 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 157 | 247 | ||
Impaired Financing Receivable, Related Allowance | 47 | 137 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 4,111 | 4,436 | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 5,220 | 5,415 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 47 | 304 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 4,111 | 0 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | ||
Cash Flow [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 14,974 | 15,578 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 17,694 | 17,970 | ||
Impaired Financing Receivable, Related Allowance | 2,522 | 2,667 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 198 | 387 | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 735 | 919 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 14,973 | 0 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 198 | 0 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | ||
Equipment Finance Commercial Financing Receivable [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 9,347 | 6,956 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 9,764 | 7,268 | ||
Impaired Financing Receivable, Related Allowance | 3,514 | 2,601 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 61,694 | 4,175 | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 67,850 | 7,528 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 4,581 | 0 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 0 | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 7,537 | 220 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 0 | ||
SBA Financing Receivable [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | 0 | ||
Impaired Financing Receivable, Related Allowance | 0 | 0 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 3,128 | 3,207 | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 4,762 | 4,920 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 0 | 919 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 0 | 10 | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 3,128 | 3,132 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 45 | 2 | ||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 383 | 143 | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 386 | 142 | ||
Impaired Financing Receivable, Related Allowance | 178 | 37 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 3,346 | 3,601 | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 3,506 | 3,768 | ||
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 383 | 2,151 | ||
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 4 | 4 | ||
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 3,345 | 251 | ||
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 1 | ||
Impaired Financing Receivable, Recorded Investment | 3,729 | 3,744 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 3,892 | 3,910 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 178 | 387 | 37 | |
Impaired Financing Receivable, Average Recorded Investment | 3,728 | 2,402 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 4 | 5 | ||
Financing Receivable, Individually Evaluated for Impairment | 3,729 | 3,972 | ||
Mortgage Loans on Real Estate [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, Related Allowance | 1,500 | 693 | ||
Impaired Financing Receivable, Recorded Investment | 59,733 | 57,857 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 79,773 | 74,122 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 2,690 | |||
Impaired Financing Receivable, Average Recorded Investment | 56,604 | 51,963 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 235 | 217 | ||
Financing Receivable, Individually Evaluated for Impairment | 59,733 | 58,532 | ||
Real Estate Construction [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, Related Allowance | 69 | |||
Impaired Financing Receivable, Recorded Investment | 8,639 | 10,555 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 8,750 | 14,465 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 55 | 251 | ||
Impaired Financing Receivable, Average Recorded Investment | 8,639 | 6,270 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 280 | 29 | ||
Financing Receivable, Individually Evaluated for Impairment | 8,639 | 12,926 | ||
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired Financing Receivable, Related Allowance | 9,975 | |||
Impaired Financing Receivable, Recorded Investment | 103,208 | 46,709 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 117,533 | 58,123 | ||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 10,493 | 5,337 | ||
Impaired Financing Receivable, Average Recorded Investment | 44,119 | 14,269 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 138 | 30 | ||
Financing Receivable, Individually Evaluated for Impairment | $103,208 | $17,792 |
Loans_and_Credit_Quality_Detai6
Loans and Credit Quality (Details 7) (NonCovered [Member], USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | 30 | 14 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $15,068,000 | $11,129,000 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 14,701,000 | 11,129,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 3 | 4 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 1,904,000 | 881,000 |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 772,000 | 0 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 91,000 | 124,000 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 91,000 | 124,000 |
Collateralized Loan Obligations [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | 6 | 4 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 1,399,000 | 3,287,000 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 1,399,000 | 3,287,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 385,000 | 559,000 |
Unsecured Commercial Member [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | 2 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 195,000 | 38,000 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 195,000 | 38,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 21,000 |
Asset Based [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | 301,000 |
Cash Flow [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | 2 | 0 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 566,000 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 387,000 | 0 |
Equipment Finance Commercial Financing Receivable [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | 4 | 0 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 4,133,000 | 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 4,133,000 | 0 |
SBA Financing Receivable [Member] | Commercial Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 0 | 238,000 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 0 | 238,000 |
Commercial Real Estate Construction Financing Receivable [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | 1 | 2 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 2,610,000 | 4,927,000 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 2,610,000 | 4,927,000 |
Real Estate Mortgage Other Receivable [Member] | Mortgage Loans on Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | 14 | 4 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 6,074,000 | 2,515,000 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 5,886,000 | 2,515,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 2 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $1,519,000 | $0 |
Loans_and_Credit_Quality_Detai7
Loans and Credit Quality (Details 8) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Purchased Credit Impaired Loans Composition [Line Items] | ||||
Loans and Leases Receivable, Net Reported Amount, Covered | $241,587 | $276,792 | ||
Purchased Credit Impaired Loans and Leases [Member] | ||||
Purchased Credit Impaired Loans Composition [Line Items] | ||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 302,828 | 340,639 | ||
Loan Discounts | -48,543 | -49,848 | ||
Loans and Leases Receivable, Allowance, Covered | -12,698 | -13,999 | -21,200 | -21,793 |
Loans and Leases Receivable, Net Reported Amount, Covered | 241,587 | 276,792 | ||
Mortgage Loans on Real Estate [Member] | ||||
Purchased Credit Impaired Loans Composition [Line Items] | ||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 268,777 | 299,660 | ||
Real Estate Construction [Member] | ||||
Purchased Credit Impaired Loans Composition [Line Items] | ||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 2,540 | 7,743 | ||
Commercial Portfolio Segment [Member] | ||||
Purchased Credit Impaired Loans Composition [Line Items] | ||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 31,185 | 32,904 | ||
Consumer Portfolio Segment [Member] | ||||
Purchased Credit Impaired Loans Composition [Line Items] | ||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | $326 | $332 |
Loans_and_Credit_Quality_Detai8
Loans and Credit Quality (Details 9) (Purchased Credit Impaired Loans and Leases [Member], Covered [Member], USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $276,792 | |
Accretable yield | -106,856 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 241,587 | 276,792 |
Accretable yield | -102,863 | -106,856 |
Carrying Amount [Member] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion | 10,183 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Disposals of Loans | -46,121 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses, Decreases | 0 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Provision for Loan Losses | 733 | |
Accretable Yield [Member] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion | 10,183 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Disposals of Loans | 0 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses, Decreases | -6,190 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Provision for Loan Losses | $0 |
Loans_and_Credit_Quality_Detai9
Loans and Credit Quality (Details 10) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable Recorded Investment By Credit Risk [Line Items] | ||
PCI loans | $254,285 | $290,791 |
Nonclassified [Member] | ||
Financing Receivable Recorded Investment By Credit Risk [Line Items] | ||
PCI loans | 105,195 | 132,288 |
Classified [Member] | ||
Financing Receivable Recorded Investment By Credit Risk [Line Items] | ||
PCI loans | 149,090 | 158,503 |
Purchased Credit Impaired Loans and Leases [Member] | ||
Financing Receivable Recorded Investment By Credit Risk [Line Items] | ||
PCI loans | 254,346 | 290,852 |
Mortgage Loans on Real Estate [Member] | ||
Financing Receivable Recorded Investment By Credit Risk [Line Items] | ||
PCI loans | 226,502 | 256,489 |
Loans And Leases PCI Net Of Discounts And Earned Income | 226,450 | 256,442 |
Mortgage Loans on Real Estate [Member] | Nonclassified [Member] | ||
Financing Receivable Recorded Investment By Credit Risk [Line Items] | ||
PCI loans | 77,548 | 101,161 |
Mortgage Loans on Real Estate [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment By Credit Risk [Line Items] | ||
PCI loans | 148,902 | 155,281 |
Real Estate Construction [Member] | ||
Financing Receivable Recorded Investment By Credit Risk [Line Items] | ||
PCI loans | 1,897 | 6,924 |
Loans And Leases PCI Net Of Discounts And Earned Income | 1,888 | 6,911 |
Real Estate Construction [Member] | Nonclassified [Member] | ||
Financing Receivable Recorded Investment By Credit Risk [Line Items] | ||
PCI loans | 1,888 | 3,901 |
Real Estate Construction [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment By Credit Risk [Line Items] | ||
PCI loans | 0 | 3,010 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable Recorded Investment By Credit Risk [Line Items] | ||
PCI loans | 25,664 | 27,155 |
Loans And Leases PCI Net Of Discounts And Earned Income | 25,664 | 27,154 |
Commercial Portfolio Segment [Member] | Nonclassified [Member] | ||
Financing Receivable Recorded Investment By Credit Risk [Line Items] | ||
PCI loans | 25,476 | 26,942 |
Commercial Portfolio Segment [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment By Credit Risk [Line Items] | ||
PCI loans | 188 | 212 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable Recorded Investment By Credit Risk [Line Items] | ||
PCI loans | 283 | 284 |
Loans And Leases PCI Net Of Discounts And Earned Income | 283 | 284 |
Consumer Portfolio Segment [Member] | Nonclassified [Member] | ||
Financing Receivable Recorded Investment By Credit Risk [Line Items] | ||
PCI loans | 283 | 284 |
Consumer Portfolio Segment [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment By Credit Risk [Line Items] | ||
PCI loans | $0 | $0 |
Recovered_Sheet1
Loans and Credit Quality (Details Textual) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | $0 | |
Non-PCI nonaccrual loans | 139,334,000 | 83,621,000 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 15,800,000 | 18,800,000 |
Financing Receivable Recorded Investment Thirty to Eighty Nine Days Past Due | 21,700,000 | 8,700,000 |
Financing Receivable Recorded Investment Nonaccrual Status Current | $101,800,000 | $56,100,000 |
Foreclosed_Assets_Foreclosed_A2
Foreclosed Assets Foreclosed Assets (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | ||
In Thousands, unless otherwise specified | ||||
Other Real Estate Owned Net Covered and Noncovered including Foreclosed Assets | $35,940 | $43,721 | ||
Other Real Estate Owned Net | 28,195 | 35,423 | ||
Other Foreclosed Assets NonCovered | 7,745 | 8,298 | ||
Other Real Estate Owned Net Noncovered including Foreclosed Assets | 35,940 | [1] | 43,721 | [1] |
NonCovered [Member] | Commercial Real Estate [Member] | ||||
Other Real Estate Owned Net | 1,036 | 2,449 | ||
NonCovered [Member] | Construction and Land Development [Member] | ||||
Other Real Estate Owned Net | 18,942 | 24,759 | ||
NonCovered [Member] | Multi Family [Member] | ||||
Other Real Estate Owned Net | 4,964 | 4,823 | ||
NonCovered [Member] | Residential Mortgage [Member] | ||||
Other Real Estate Owned Net | 3,253 | 3,392 | ||
Covered [Member] | ||||
Other Real Estate Owned Net Covered and Noncovered including Foreclosed Assets | $8,100 | $9,300 | ||
[1] | (1)As of March 31, 2015 and December 31, 2014 , the amounts of covered foreclosed assets were $8.1 million and $9.3 million. |
Foreclosed_Assets_Foreclosed_A3
Foreclosed Assets Foreclosed Assets (Details 1) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | |
Business Acquisition [Line Items] | ||
Balance, December 31, 2014 | $43,721 | [1] |
Reductions related to sales | -8,051 | |
Balance, March 31, 2015 | 35,940 | [1] |
NonCovered [Member] | ||
Business Acquisition [Line Items] | ||
Foreclosures | 394 | |
Provision for losses | ($124) | |
[1] | (1)As of March 31, 2015 and December 31, 2014 , the amounts of covered foreclosed assets were $8.1 million and $9.3 million. |
FDIC_Loss_Sharing_Asset_FDIC_L2
FDIC Loss Sharing Asset FDIC Loss Sharing Asset (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | |
Schedule of FDIC Loss Sharing Asset [Line Items] | ||
FDIC loss sharing asset | $16,532 | |
FDIC Indemnification True Up | 7,290 | |
NonSingle Family Covered Assets | 213,486 | [1] |
Single Family Covered Assets | 95,480 | |
Affinity Bank [Member] | ||
Schedule of FDIC Loss Sharing Asset [Line Items] | ||
FDIC loss sharing asset | 140 | |
NonSingle Family Covered Assets | 105,614 | [1] |
Single Family Covered Assets | 10,932 | |
Los Padres Bank [Member] | ||
Schedule of FDIC Loss Sharing Asset [Line Items] | ||
FDIC loss sharing asset | 8,161 | |
NonSingle Family Covered Assets | 73,072 | [1] |
Single Family Covered Assets | 55,447 | |
Western Commercial Bank [Member] | ||
Schedule of FDIC Loss Sharing Asset [Line Items] | ||
FDIC loss sharing asset | 710 | |
FDIC Indemnification True Up | 1,773 | |
NonSingle Family Covered Assets | 8,799 | [1] |
San Luis Trust Bank [Member] | ||
Schedule of FDIC Loss Sharing Asset [Line Items] | ||
FDIC loss sharing asset | 7,521 | |
FDIC Indemnification True Up | 5,517 | |
NonSingle Family Covered Assets | 26,001 | [1] |
Single Family Covered Assets | $29,101 | |
[1] | (1) Excludes securities |
FDIC_Loss_Sharing_Asset_FDIC_L3
FDIC Loss Sharing Asset FDIC Loss Sharing Assets (Details Textuals) | 3 Months Ended |
Mar. 31, 2015 | |
Schedule of FDIC Loss Sharing Asset [Line Items] | |
FDIC Indemnification rate on covered assets | 80.00% |
Recovery rate of assuming bank on covered assets | 80.00% |
Borrowings_Details
Borrowings (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | ||
Borrowings | $618,156,000 | $383,402,000 |
Notes Payable, Other Payables [Member] | ||
Debt Instrument [Line Items] | ||
Non-Recourse Debt | 3,156,000 | 3,402,000 |
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 6.34% | 0.00% |
Federal Home Loan Bank Advances [Member] | ||
Debt Instrument [Line Items] | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 0.24% | 0.00% |
Line of Credit Facility, Amount Outstanding | $615,000,000 | $380,000,000 |
Borrowings_Borrowings_Details_
Borrowings Borrowings (Details 1) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | ||
Subordinated Borrowing [Line Items] | ||||
Subordinated debentures | $431,448 | $433,583 | ||
Subordinated Debt Trust V Due September 2033 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | 10,310 | 10,310 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 3.37% | 3.33% | ||
Debt Instrument Date Issued | 15-Aug-03 | |||
Debt Instrument, Maturity Date | 17-Sep-33 | |||
Debt Instrument, Basis Spread on Variable Rate | 3B month LIBORB +B 3.10 | |||
Subordinated Debt Trust VI Due September 2033 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | 10,310 | 10,310 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 3.32% | 3.29% | ||
Debt Instrument Date Issued | 3-Sep-03 | |||
Debt Instrument, Maturity Date | 15-Sep-33 | |||
Debt Instrument, Basis Spread on Variable Rate | 3B month LIBORB +B 3.05 | |||
Subordinated Debt Trust CII Due September 2033 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | 5,155 | 5,155 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 3.22% | 3.19% | ||
Debt Instrument Date Issued | 17-Sep-03 | |||
Debt Instrument, Maturity Date | 17-Sep-33 | |||
Debt Instrument, Basis Spread on Variable Rate | 3B month LIBORB +B 2.95 | |||
Subordinated Debt Trust VII Due April 2034 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | 61,856 | 61,856 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 3.00% | 2.98% | ||
Debt Instrument Date Issued | 5-Feb-04 | |||
Debt Instrument, Maturity Date | 23-Apr-34 | |||
Debt Instrument, Basis Spread on Variable Rate | 3B month LIBORB +B 2.75 | |||
Subordinated Debt Trust CIII Due September 2035 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | 20,619 | 20,619 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 1.96% | 1.93% | ||
Debt Instrument Date Issued | 15-Aug-05 | |||
Debt Instrument, Maturity Date | 15-Sep-35 | |||
Debt Instrument, Basis Spread on Variable Rate | 3B month LIBORB +B 1.69 | |||
Subordinated Debt Trust FCCI Due March 2037 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | 16,495 | 16,495 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 1.87% | 1.84% | ||
Debt Instrument Date Issued | 25-Jan-07 | |||
Debt Instrument, Maturity Date | 15-Mar-37 | |||
Debt Instrument, Basis Spread on Variable Rate | 3B month LIBORB +B 1.60 | |||
Subordinated Debt Trust FCBI Due December 2035 [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | 10,310 | 10,310 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 1.82% | 1.79% | ||
Debt Instrument Date Issued | 30-Sep-05 | |||
Debt Instrument, Maturity Date | 15-Dec-35 | |||
Debt Instrument, Basis Spread on Variable Rate | 3B month LIBORB +B 1.55 | |||
Trust Preferred Securities Two Thousand Five Series One [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | 82,475 | 82,475 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 2.22% | 2.19% | ||
Debt Instrument Date Issued | 21-Nov-05 | |||
Debt Instrument, Maturity Date | 15-Dec-35 | |||
Debt Instrument, Basis Spread on Variable Rate | 3 month LIBOR + 1.95 | |||
Trust Preferred Securities Two Thousand Five Series Two [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | 128,866 | 128,866 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 2.20% | 2.18% | ||
Debt Instrument Date Issued | 14-Dec-05 | |||
Debt Instrument, Maturity Date | 30-Jan-36 | |||
Debt Instrument, Basis Spread on Variable Rate | 3 month LIBOR + 1.95 | |||
Two Thousand Six One Term Debt Securitization [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | 51,545 | 51,545 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 2.20% | 2.18% | ||
Debt Instrument Date Issued | 22-Feb-06 | |||
Debt Instrument, Maturity Date | 30-Apr-36 | |||
Debt Instrument, Basis Spread on Variable Rate | 3 month LIBOR + 1.95 | |||
Two Thousand Six Two Term Debt Securitization [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | 51,550 | 51,550 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 2.20% | 2.18% | ||
Debt Instrument Date Issued | 27-Sep-06 | |||
Debt Instrument, Maturity Date | 30-Oct-36 | |||
Debt Instrument, Basis Spread on Variable Rate | 3 month LIBOR + 1.95 | |||
Trust Preferred Securities Two Thousand Six Series Three [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | 27,651 | [1] | 31,188 | [1] |
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 2.10% | 2.14% | ||
Debt Instrument Date Issued | 29-Sep-06 | |||
Debt Instrument, Maturity Date | 30-Oct-36 | |||
Debt Instrument, Basis Spread on Variable Rate | 3 month EURIBOR + 2.05 | |||
Trust Preferred Securities Two Thousand Six Series Four [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | 16,470 | 16,470 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 2.20% | 2.18% | ||
Debt Instrument Date Issued | 5-Dec-06 | |||
Debt Instrument, Maturity Date | 30-Jan-37 | |||
Debt Instrument, Basis Spread on Variable Rate | 3 month LIBOR + 1.95 | |||
Trust Preferred Securities Two Thousand Six Series Five [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | 6,650 | 6,650 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 2.20% | 2.18% | ||
Debt Instrument Date Issued | 19-Dec-06 | |||
Debt Instrument, Maturity Date | 30-Jan-37 | |||
Debt Instrument, Basis Spread on Variable Rate | 3 month LIBOR + 1.95 | |||
Two Thousand Seven One Term Debt Securitization [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | 39,177 | 39,177 | ||
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate | 2.20% | 2.18% | ||
Debt Instrument Date Issued | 13-Jun-07 | |||
Debt Instrument, Maturity Date | 30-Jul-37 | |||
Debt Instrument, Basis Spread on Variable Rate | 3 month LIBOR + 1.95 | |||
Subordinated Debt [Member] | ||||
Subordinated Borrowing [Line Items] | ||||
Long-term Debt, Gross | 539,439 | 542,976 | ||
Debt Instrument, Unamortized Discount | -107,991 | -109,393 | ||
Subordinated debentures | $431,448 | $433,583 | ||
[1] | (3) Denomination is in Euros with a value of €25.8 million. |
Borrowings_Details_Textual
Borrowings (Details Textual) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | |
Debt Instrument [Line Items] | ||
Interest-bearing Domestic Deposit, Brokered | $814,900,000 | $636,700,000 |
Brokered Deposits For The Quarter | 178,200,000 | |
Notes Payable, Other Payables [Member] | ||
Debt Instrument [Line Items] | ||
Debt Instruments Weighted Average Remaining Maturity Period | 2 years 5 months 20 days | |
Revolving Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit Facility, Borrowing Capacity, Description | 75,000,000 | |
Line of Credit Facility, Amount Outstanding | 0 | 0 |
Federal Reserve Bank Advances [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit Facility, Amount Outstanding | 0 | |
Federal Home Loan Bank Advances [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit Facility, Amount Outstanding | 615,000,000 | 380,000,000 |
Line of Credit Facility, Current Borrowing Capacity | 2,400,000,000 | |
Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit Facility, Current Borrowing Capacity | 80,000,000 | |
Unused lines of Credit [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit Facility, Amount Outstanding | 0 | 0 |
Certificate of Deposit Account Registry Service Program [Member] | ||
Debt Instrument [Line Items] | ||
Interest-bearing Domestic Deposit, Brokered | 46,500,000 | 44,000,000 |
Federal Home Loan Bank of San Francisco [Member] | ||
Debt Instrument [Line Items] | ||
Line of Credit Facility, Borrowing Capacity, Description | 1,500,000,000 | |
Line of Credit Facility, Amount Outstanding | 0 | |
Loans Pledged as Collateral | $2,100,000,000 |
Commitments_and_Contingencies_1
Commitments and Contingencies Commitments and Contingencies (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Commitments and Contingencies Disclosure [Abstract] | ||
Loans and Leases Receivable Commitments | $2,122,749 | $1,921,067 |
Guarantor Obligations, Maximum Exposure, Undiscounted | 97,540 | 88,495 |
Loans and Leases Receivable, Commitments to Purchase or Sell | 23,535 | 12,839 |
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability | $2,243,824 | $2,022,401 |
Commitments_and_Contingencies_2
Commitments and Contingencies (Details Textual) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Long-term Purchase Commitment [Line Items] | ||
Commitment To Contribute Capital | $13.40 | $11 |
Private Equity Funds [Member] | ||
Long-term Purchase Commitment [Line Items] | ||
Purchase Commitment, Remaining Minimum Amount Committed | $2.80 | $2.90 |
Number of funds | 11 | 11 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details 1) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Securities availablebforbsale | $1,595,409 | $1,567,177 |
Derivative Asset, Fair Value of Collateral | 9,749 | 5,234 |
Derivative Liability, Fair Value of Collateral | 118 | |
Level 1 | ||
Securities availablebforbsale | 524 | 519 |
Derivative Asset, Fair Value of Collateral | 0 | 0 |
Derivative Liability, Fair Value of Collateral | 0 | |
Level 2 | ||
Securities availablebforbsale | 1,561,441 | 1,532,711 |
Derivative Asset, Fair Value of Collateral | 9,749 | 5,234 |
Derivative Liability, Fair Value of Collateral | 118 | |
Level 3 | ||
Securities availablebforbsale | 33,444 | 33,947 |
Derivative Asset, Fair Value of Collateral | 0 | 0 |
Derivative Liability, Fair Value of Collateral | 0 | |
Collateralized Loan Obligations [Member] | ||
Securities availablebforbsale | 0 | |
Fair Value, Measurements, Recurring [Member] | ||
Securities availablebforbsale | 1,595,409 | 1,567,177 |
Derivative Asset, Fair Value of Collateral | 9,749 | 5,234 |
Assets, Fair Value Disclosure, Recurring | 1,605,158 | 1,572,411 |
Derivative Liability, Fair Value of Collateral | 118 | |
Fair Value, Measurements, Recurring [Member] | Level 1 | ||
Securities availablebforbsale | 519 | |
Derivative Asset, Fair Value of Collateral | 0 | 0 |
Assets, Fair Value Disclosure, Recurring | 524 | 519 |
Derivative Liability, Fair Value of Collateral | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 2 | ||
Securities availablebforbsale | 1,532,711 | |
Derivative Asset, Fair Value of Collateral | 9,749 | 5,234 |
Assets, Fair Value Disclosure, Recurring | 1,571,190 | 1,537,945 |
Derivative Liability, Fair Value of Collateral | 118 | |
Fair Value, Measurements, Recurring [Member] | Level 3 | ||
Securities availablebforbsale | 33,947 | |
Derivative Asset, Fair Value of Collateral | 0 | 0 |
Assets, Fair Value Disclosure, Recurring | 33,444 | 33,947 |
Derivative Liability, Fair Value of Collateral | 0 | |
Fair Value, Measurements, Recurring [Member] | Government agency and government-sponsored enterprise pass through securities | ||
Securities availablebforbsale | 458,892 | 535,672 |
Fair Value, Measurements, Recurring [Member] | Government agency and government-sponsored enterprise pass through securities | Level 1 | ||
Securities availablebforbsale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Government agency and government-sponsored enterprise pass through securities | Level 2 | ||
Securities availablebforbsale | 458,892 | 535,672 |
Fair Value, Measurements, Recurring [Member] | Government agency and government-sponsored enterprise pass through securities | Level 3 | ||
Securities availablebforbsale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Government agency and government-sponsored enterprise collateralized mortgage obligations [Member] | ||
Securities availablebforbsale | 276,224 | 277,946 |
Fair Value, Measurements, Recurring [Member] | Government agency and government-sponsored enterprise collateralized mortgage obligations [Member] | Level 1 | ||
Securities availablebforbsale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Government agency and government-sponsored enterprise collateralized mortgage obligations [Member] | Level 2 | ||
Securities availablebforbsale | 276,224 | 277,946 |
Fair Value, Measurements, Recurring [Member] | Government agency and government-sponsored enterprise collateralized mortgage obligations [Member] | Level 3 | ||
Securities availablebforbsale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Covered private label collateralized mortgage obligation [Member] | ||
Securities availablebforbsale | 33,444 | 33,947 |
Fair Value, Measurements, Recurring [Member] | Covered private label collateralized mortgage obligation [Member] | Level 1 | ||
Securities availablebforbsale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Covered private label collateralized mortgage obligation [Member] | Level 2 | ||
Securities availablebforbsale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Covered private label collateralized mortgage obligation [Member] | Level 3 | ||
Securities availablebforbsale | 33,444 | 33,947 |
Fair Value, Measurements, Recurring [Member] | Other Private Label Collateralized Mortgage Obligations [Member] | ||
Securities availablebforbsale | 9,650 | 10,914 |
Fair Value, Measurements, Recurring [Member] | Other Private Label Collateralized Mortgage Obligations [Member] | Level 1 | ||
Securities availablebforbsale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Other Private Label Collateralized Mortgage Obligations [Member] | Level 2 | ||
Securities availablebforbsale | 9,650 | 10,914 |
Fair Value, Measurements, Recurring [Member] | Other Private Label Collateralized Mortgage Obligations [Member] | Level 3 | ||
Securities availablebforbsale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Municipal securities | ||
Securities availablebforbsale | 592,853 | 536,116 |
Fair Value, Measurements, Recurring [Member] | Municipal securities | Level 1 | ||
Securities availablebforbsale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Municipal securities | Level 2 | ||
Securities availablebforbsale | 592,853 | 536,116 |
Fair Value, Measurements, Recurring [Member] | Municipal securities | Level 3 | ||
Securities availablebforbsale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||
Securities availablebforbsale | 47,745 | 110,109 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Level 1 | ||
Securities availablebforbsale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Level 2 | ||
Securities availablebforbsale | 47,745 | 110,109 |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | Level 3 | ||
Securities availablebforbsale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Collateralized Loan Obligations [Member] | ||
Securities availablebforbsale | 113,805 | |
Fair Value, Measurements, Recurring [Member] | Collateralized Loan Obligations [Member] | Level 2 | ||
Securities availablebforbsale | 113,805 | |
Fair Value, Measurements, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities availablebforbsale | 37,405 | 36,757 |
Fair Value, Measurements, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Level 1 | ||
Securities availablebforbsale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Level 2 | ||
Securities availablebforbsale | 37,405 | 36,757 |
Fair Value, Measurements, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Level 3 | ||
Securities availablebforbsale | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Other securities [Member] | ||
Securities availablebforbsale | 25,391 | 25,716 |
Fair Value, Measurements, Recurring [Member] | Other securities [Member] | Level 1 | ||
Securities availablebforbsale | 524 | 519 |
Fair Value, Measurements, Recurring [Member] | Other securities [Member] | Level 2 | ||
Securities availablebforbsale | 24,867 | 25,197 |
Fair Value, Measurements, Recurring [Member] | Other securities [Member] | Level 3 | ||
Securities availablebforbsale | $0 | $0 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements Fair Value Measurements (Details 2) (Level 3, Private Label CMOs, Fair Value, Measurements, Recurring [Member], USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Level 3 CMO Roll Forward [Abstract] | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | $33,444 | $33,947 |
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings | 154 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) | -109 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements | $548 | |
Minimum [Member] | ||
Unobservable Inputs Quantitative Information [Abstract] | ||
Fair Value Inputs, Prepayment Rate | 0.00% | |
Fair Value Inputs, Probability of Default | 0.00% | |
Fair Value Inputs, Loss Severity | 0.00% | |
Fair Value Inputs, Discount Rate | 0.00% | |
Maximum [Member] | ||
Unobservable Inputs Quantitative Information [Abstract] | ||
Fair Value Inputs, Prepayment Rate | 34.38% | |
Fair Value Inputs, Probability of Default | 42.67% | |
Fair Value Inputs, Loss Severity | 71.21% | |
Fair Value Inputs, Discount Rate | 22.57% | |
Weighted Average [Member] | ||
Unobservable Inputs Quantitative Information [Abstract] | ||
Fair Value Inputs, Prepayment Rate | 5.70% | |
Fair Value Inputs, Probability of Default | 2.89% | |
Fair Value Inputs, Loss Severity | 30.16% | |
Fair Value Inputs, Discount Rate | 5.58% |
Fair_Value_Measurements_Fair_V1
Fair Value Measurements Fair Value Measurements (Details 3) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | $12,280,982 | $11,757,951 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 12,278,803 | 11,755,585 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 60,025 | 67,274 |
Fair Value, Measurements, Nonrecurring [Member] | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 2,961 | 20,766 |
Fair Value, Measurements, Nonrecurring [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 57,064 | 46,508 |
Non Purchased Credit Impaired Loans and Leases [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 59,243 | 42,693 |
Non Purchased Credit Impaired Loans and Leases [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Non Purchased Credit Impaired Loans and Leases [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 2,366 | |
Loans Receivable, Fair Value Disclosure | 2,179 | 2,366 |
Non Purchased Credit Impaired Loans and Leases [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 57,064 | 40,327 |
Other real estate and foreclosed assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 782 | 24,015 |
Other real estate and foreclosed assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Other real estate and foreclosed assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 782 | 18,400 |
Other real estate and foreclosed assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 5,615 | |
Cost-method Investments [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 566 | |
Cost-method Investments [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | |
Cost-method Investments [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | |
Cost-method Investments [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 566 | |
Third party appraisals [Domain] | Non Purchased Credit Impaired Loans and Leases [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 24,159 | |
Third party appraisals [Domain] | Other real estate and foreclosed assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | $0 |
Fair_Value_Measurements_Fair_V2
Fair Value Measurements Fair Value Measurements (Details 4) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Receivable, Fair Value Disclosure | $12,280,982 | $11,757,951 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Net Gain (Loss) from Nonrecurring Assets | -9,316 | |
Non Purchased Credit Impaired Loans and Leases [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Net Gain (Loss) from Nonrecurring Assets | -9,192 | |
Other real estate and foreclosed assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Net Gain (Loss) from Nonrecurring Assets | ($124) |
Fair_Value_Measurements_Fair_V3
Fair Value Measurements Fair Value Measurements (Details 5) (Fair Value, Measurements, Nonrecurring [Member], USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 60,025 | $67,274 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 57,064 | 46,508 |
Non Purchased Credit Impaired Loans and Leases [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 59,243 | 42,693 |
Non Purchased Credit Impaired Loans and Leases [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 57,064 | 40,327 |
Other real estate and foreclosed assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 782 | 24,015 |
Other real estate and foreclosed assets [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 5,615 | |
Cost-method Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 566 | |
Cost-method Investments [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 566 | |
Discounted Cash Flow [Member] | Non Purchased Credit Impaired Loans and Leases [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 32,905 | |
Third party appraisals [Domain] | Non Purchased Credit Impaired Loans and Leases [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 24,159 | |
Third party appraisals [Domain] | Other real estate and foreclosed assets [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | |
Minimum [Member] | Discounted Cash Flow [Member] | Non Purchased Credit Impaired Loans and Leases [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Inputs, Discount Rate | 0.00% | |
Minimum [Member] | Market Approach Valuation Technique [Member] | Other real estate and foreclosed assets [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Inputs, Discount Rate | 0.00% | |
Minimum [Member] | Market Approach Valuation Technique [Member] | Cost-method Investments [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Inputs, Illiquidity Discount | 0.00% | |
Maximum [Member] | Discounted Cash Flow [Member] | Non Purchased Credit Impaired Loans and Leases [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Inputs, Discount Rate | 10.46% | |
Maximum [Member] | Market Approach Valuation Technique [Member] | Other real estate and foreclosed assets [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Inputs, Discount Rate | 0.00% | |
Maximum [Member] | Market Approach Valuation Technique [Member] | Cost-method Investments [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Inputs, Illiquidity Discount | 0.00% | |
Weighted Average [Member] | Discounted Cash Flow [Member] | Non Purchased Credit Impaired Loans and Leases [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Inputs, Discount Rate | 6.29% | |
Weighted Average [Member] | Market Approach Valuation Technique [Member] | Other real estate and foreclosed assets [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Inputs, Discount Rate | 0.00% | |
Weighted Average [Member] | Market Approach Valuation Technique [Member] | Cost-method Investments [Member] | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Inputs, Illiquidity Discount | 0.00% |
Fair_Value_Measurements_Fair_V4
Fair Value Measurements Fair Value Measurements (Details 6) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | $140,873 | $164,757 |
Interest-earning deposits in financial institutions | 250,981 | 148,469 |
Available-for-sale Securities | 1,595,409 | 1,567,177 |
Federal Home Loan Bank stock, at cost | 28,905 | 40,609 |
Investment in Federal Home Loan Bank Stock, Fair Value Disclosure | 28,905 | 40,609 |
Cost Method Investments | 3,100 | 3,691 |
Cost Method Investments, Fair Value Disclosure | 3,534 | 3,691 |
Equity Method Investments | 21,226 | 21,461 |
Equity Method Investments, Fair Value Disclosure | 21,475 | 21,700 |
Loans and leases, net | 12,179,788 | 11,797,977 |
Loans Receivable, Fair Value Disclosure | 12,280,982 | 11,757,951 |
Derivative Asset | 9,749 | 5,234 |
Derivative Asset, Fair Value of Collateral | 9,749 | 5,234 |
Deposits, Savings Deposits | 6,353,376 | 6,256,190 |
Time Deposits | 5,580,799 | 5,498,938 |
Deposits, Fair Value Disclosure | 5,584,088 | 5,502,479 |
Borrowed Funds | 618,156 | 383,402 |
Long-term Debt, Fair Value | 618,351 | 383,539 |
Subordinated debentures | 431,448 | 433,583 |
Subordinated Debt Obligations, Fair Value Disclosure | 415,210 | 417,657 |
Derivative Liability | 118 | |
Derivative Liability, Fair Value of Collateral | 118 | |
Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | 140,873 | 164,757 |
Interest-earning deposits in financial institutions | 250,981 | 148,469 |
Available-for-sale Securities | 524 | 519 |
Investment in Federal Home Loan Bank Stock, Fair Value Disclosure | 0 | 0 |
Cost Method Investments, Fair Value Disclosure | 0 | 0 |
Equity Method Investments, Fair Value Disclosure | 0 | 0 |
Derivative Asset, Fair Value of Collateral | 0 | 0 |
Deposits, Savings Deposits | 0 | 0 |
Deposits, Fair Value Disclosure | 0 | 0 |
Long-term Debt, Fair Value | 615,000 | 380,000 |
Subordinated Debt Obligations, Fair Value Disclosure | 0 | 0 |
Derivative Liability, Fair Value of Collateral | 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 |
Available-for-sale Securities | 1,561,441 | 1,532,711 |
Investment in Federal Home Loan Bank Stock, Fair Value Disclosure | 28,905 | 40,609 |
Cost Method Investments, Fair Value Disclosure | 0 | 0 |
Equity Method Investments, Fair Value Disclosure | 0 | 0 |
Derivative Asset, Fair Value of Collateral | 9,749 | 5,234 |
Deposits, Savings Deposits | 6,353,376 | 6,256,190 |
Deposits, Fair Value Disclosure | 5,584,088 | 5,502,479 |
Long-term Debt, Fair Value | 3,351 | 3,539 |
Subordinated Debt Obligations, Fair Value Disclosure | 415,210 | 417,657 |
Derivative Liability, Fair Value of Collateral | 118 | |
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 |
Available-for-sale Securities | 33,444 | 33,947 |
Investment in Federal Home Loan Bank Stock, Fair Value Disclosure | 0 | 0 |
Cost Method Investments, Fair Value Disclosure | 3,534 | 3,691 |
Equity Method Investments, Fair Value Disclosure | 21,475 | 21,700 |
Loans Receivable, Fair Value Disclosure | 12,278,803 | 11,755,585 |
Derivative Asset, Fair Value of Collateral | 0 | 0 |
Deposits, Savings Deposits | 0 | 0 |
Deposits, Fair Value Disclosure | 0 | 0 |
Long-term Debt, Fair Value | 0 | 0 |
Subordinated Debt Obligations, Fair Value Disclosure | 0 | 0 |
Derivative Liability, Fair Value of Collateral | 0 | |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities | 1,595,409 | 1,567,177 |
Derivative Asset, Fair Value of Collateral | 9,749 | 5,234 |
Derivative Liability, Fair Value of Collateral | 118 | |
Fair Value, Measurements, Recurring [Member] | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities | 519 | |
Derivative Asset, Fair Value of Collateral | 0 | 0 |
Derivative Liability, Fair Value of Collateral | 0 | |
Fair Value, Measurements, Recurring [Member] | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities | 1,532,711 | |
Derivative Asset, Fair Value of Collateral | 9,749 | 5,234 |
Derivative Liability, Fair Value of Collateral | 118 | |
Fair Value, Measurements, Recurring [Member] | Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale Securities | 33,947 | |
Derivative Asset, Fair Value of Collateral | 0 | 0 |
Derivative Liability, Fair Value of Collateral | 0 | |
Non Purchased Credit Impaired Loans and Leases [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Non Purchased Credit Impaired Loans and Leases [Member] | Fair Value, Measurements, Nonrecurring [Member] | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans Receivable, Fair Value Disclosure | $2,179 | $2,366 |
Fair_Value_Measurements_Fair_V5
Fair Value Measurements Fair Value Measurements (Details Textuals) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount | $0 | |
Threshold for loans that are considered individually significant for allowance analysis purposes | 250,000 | |
Non-PCI nonaccrual loans | 139,334,000 | 83,621,000 |
Carrying Value of Nonaccrual Loans with Collateral Write-downs | $24,500,000 |
Earnings_Per_Share_Details_1
Earnings Per Share (Details 1) (USD $) | 3 Months Ended | |||||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | |||
Earnings Per Share [Abstract] | ||||||
Income (Loss) from Continuing Operations Attributable to Parent | $73,079 | $71,057 | $25,905 | |||
Less: earnings allocated to unvested restricted stock(1) | -819 | [1] | -810 | [1] | -500 | [1] |
Net earnings from continuing operations allocated to common shares | 72,260 | 70,247 | 25,405 | |||
Net (loss) earnings from discontinued operations allocated to common shares | 0 | -57 | -804 | |||
Net earnings allocated to common shares | $72,260 | $70,190 | $24,601 | |||
Weighted-average basic shares and unvested restricted stock outstanding | 103,035 | 103,045 | 45,799 | |||
Less: weighted-average unvested restricted stock outstanding | -1,122 | -1,132 | -1,148 | |||
Weighted-average basic shares outstanding | 101,913 | 101,913 | 44,651 | |||
Net earnings from continuing operations | $0.71 | $0.69 | $0.57 | |||
Net loss from discontinued operations | $0 | $0 | ($0.02) | |||
Basic net income per share | $0.71 | $0.69 | $0.55 | |||
Net earnings allocated to common shares | 72,260 | 70,190 | 24,601 | |||
Net earnings from continuing operations | $0.71 | $0.69 | $0.57 | |||
Net loss from discontinued operations | $0 | $0 | ($0.02) | |||
Diluted net income per share | $0.71 | $0.69 | $0.55 | |||
[1] | Represents cash dividends paid to holders of unvested restricted stock, net of estimated forfeitures, plus undistributed earnings amounts available to holders of unvested restricted stock, if any. |
Stock_Based_Compensation_Plans1
Stock Based Compensation Plans Stock Based Compensation Plans (Details 1) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 1,129,445 | 1,108,505 | ||
Vesting period of time-based restricted stock, lower limit | 3 years | |||
Vesting period of time-based restricted stock, higher limit | 4 years | |||
PacWest 2003 Stock Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 19,686,565 | |||
Share-based compensation arrangement, number of Shares Authorized due to CapitalSource, Inc Plan | 10,686,565 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 13,510,779 | |||
Share-based compensation arrangement, Number of Shares Available for Grant due to CapitalSource, Inc Compensation Plan | 10,082,099 | |||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | 34.6 | |||
Restricted Stock [Member] | Vesting Based On Service [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated Share-based Compensation Expense | 3.1 | $2.80 | $1.60 |
Business_Segment_Business_Segm
Business Segment Business Segments (Details 1) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Apr. 07, 2014 | |
In Thousands, unless otherwise specified | |||||
Loans and Leases Receivable, Net of Deferred Income | $12,272,166 | $11,882,432 | $4,161,067 | ||
Loans and Leases Receivable, Allowance | -92,378 | -81,180 | |||
Total loans and leases, net | 12,179,788 | 11,797,977 | 4,079,887 | ||
Goodwill | 1,728,380 | [1] | 1,720,479 | 208,743 | |
Core deposit and customer relationship intangibles, net | 15,703 | 17,204 | 15,884 | ||
Total assets | 16,643,940 | 16,234,605 | 6,517,853 | ||
Total deposits | 11,934,175 | 11,755,128 | 5,369,408 | ||
Operating Segments [Member] | Community Banking Segment [Member] | |||||
Loans and Leases Receivable, Net of Deferred Income | 3,349,928 | 3,707,308 | |||
Loans and Leases Receivable, Allowance | -40,906 | -74,833 | |||
Total loans and leases, net | 3,309,022 | 3,632,475 | |||
Goodwill | 333,979 | [1] | 183,065 | ||
Core deposit and customer relationship intangibles, net | 14,918 | 14,139 | |||
Total assets | 6,553,028 | 5,990,162 | |||
Total deposits | 12,252,851 | 5,415,691 | |||
Operating Segments [Member] | National Lending Segment [Member] | |||||
Loans and Leases Receivable, Net of Deferred Income | 8,898,843 | 453,759 | |||
Loans and Leases Receivable, Allowance | -51,472 | -6,347 | |||
Total loans and leases, net | 8,847,371 | 447,412 | |||
Goodwill | 1,394,401 | [1] | 25,678 | ||
Core deposit and customer relationship intangibles, net | 785 | 1,745 | |||
Total assets | 9,905,563 | 517,126 | |||
Total deposits | 35,847 | 0 | |||
Operating Segments [Member] | Other Segments [Member] | |||||
Loans and Leases Receivable, Net of Deferred Income | 23,395 | 0 | |||
Loans and Leases Receivable, Allowance | 0 | 0 | |||
Total loans and leases, net | 23,395 | 0 | |||
Goodwill | 0 | [1] | 0 | ||
Core deposit and customer relationship intangibles, net | 0 | 0 | |||
Total assets | 185,349 | 10,565 | |||
Total deposits | -354,523 | -46,283 | |||
Capitalsource, Inc. [Member] | |||||
Goodwill | $1,526,282 | ||||
[1] | The increase in goodwill for the Community Banking segment and National Lending segment compared to March 31, 2014, was due primarily to $1.5 billion from the CapitalSource Inc. merger. |
Business_Segments_Details_2
Business Segments (Details 2) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
Segment Reporting Information [Line Items] | |||
Interest Income | $214,314 | $209,696 | $88,360 |
Interest expense | -15,239 | -14,713 | -2,345 |
Intersegment interest income (expense), net | 0 | 0 | 0 |
Net interest income | 199,075 | 194,983 | 86,015 |
Provision for Loan, Lease, and Other Losses | -16,434 | -2,063 | 644 |
Gain on securities | 3,275 | 0 | 4,752 |
FDIC loss sharing expense, net | -4,399 | -4,360 | -11,430 |
Other noninterest income | 21,995 | 17,063 | 11,369 |
Total noninterest income | 20,871 | 12,703 | 4,691 |
Foreclosed assets (expense) income, net | -336 | -1,938 | 1,861 |
Intangible asset amortization | -1,501 | -1,619 | -1,364 |
Acquisition, integration and reorganization costs | -2,000 | -7,381 | -2,200 |
Other noninterest expense | -80,523 | -80,367 | -48,461 |
Total noninterest expense | -84,360 | -91,305 | -50,164 |
Intersegment noninterest income, net | 0 | 0 | |
Total noninterest expense, adjusted for intersegment noninterest net income | -84,360 | -91,305 | |
Earnings (loss) from continuing operations before taxes | 119,152 | 114,318 | 41,186 |
Income Tax Expense (Benefit) | -46,073 | -43,261 | -15,281 |
Net income before income taxes | 71,057 | 25,905 | |
Loss from discontinued operations before taxes | 0 | -105 | -1,413 |
Income tax benefit | 0 | 47 | 588 |
Net loss from discontinued operations | 0 | -58 | -825 |
Net earnings | 73,079 | 70,999 | 25,080 |
Operating Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Net earnings | 25,080 | ||
Operating Segments [Member] | National Lending Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest Income | 151,219 | 144,546 | 10,765 |
Interest expense | -53 | -46 | -77 |
Intersegment interest income (expense), net | -6,721 | -6,173 | -222 |
Net interest income | 144,445 | 138,327 | 10,466 |
Provision for Loan, Lease, and Other Losses | -24,406 | -11,816 | -182 |
Gain on securities | 0 | 0 | |
FDIC loss sharing expense, net | 0 | 0 | 0 |
Other noninterest income | 5,142 | 7,330 | 4,445 |
Total noninterest income | 5,142 | 7,330 | 4,445 |
Foreclosed assets (expense) income, net | -61 | -18 | 0 |
Intangible asset amortization | -112 | -112 | -173 |
Acquisition, integration and reorganization costs | 0 | 0 | 0 |
Other noninterest expense | -22,837 | -24,526 | -6,573 |
Total noninterest expense | -23,010 | -24,656 | -6,746 |
Intersegment noninterest income, net | -26,563 | -21,953 | |
Total noninterest expense, adjusted for intersegment noninterest net income | -49,573 | -46,609 | |
Earnings (loss) from continuing operations before taxes | 75,608 | 87,232 | 7,983 |
Income Tax Expense (Benefit) | -29,282 | -34,781 | -3,331 |
Net income before income taxes | 52,451 | 4,652 | |
Loss from discontinued operations before taxes | 0 | 0 | |
Income tax benefit | 0 | 0 | |
Net loss from discontinued operations | 0 | 0 | |
Net earnings | 46,326 | 52,451 | 4,652 |
Operating Segments [Member] | Other Segments [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest Income | 139 | 183 | 0 |
Interest expense | -4,525 | -4,598 | -1,041 |
Intersegment interest income (expense), net | 0 | 0 | 0 |
Net interest income | -4,386 | -4,415 | -1,041 |
Provision for Loan, Lease, and Other Losses | -92 | 0 | 0 |
Gain on securities | 0 | 0 | |
FDIC loss sharing expense, net | 0 | 0 | 0 |
Other noninterest income | 7,278 | 2,708 | 27 |
Total noninterest income | 7,278 | 2,708 | 27 |
Foreclosed assets (expense) income, net | -231 | 366 | 0 |
Intangible asset amortization | 0 | 0 | 0 |
Acquisition, integration and reorganization costs | -110 | 0 | 0 |
Other noninterest expense | -2,481 | -4,236 | -1,603 |
Total noninterest expense | -2,822 | -3,870 | -1,603 |
Intersegment noninterest income, net | 0 | 0 | |
Total noninterest expense, adjusted for intersegment noninterest net income | -2,822 | -3,870 | |
Earnings (loss) from continuing operations before taxes | -22 | -5,577 | -2,617 |
Income Tax Expense (Benefit) | 82 | 5,171 | 1,089 |
Net income before income taxes | -406 | -1,528 | |
Loss from discontinued operations before taxes | 0 | 0 | |
Income tax benefit | 0 | 0 | |
Net loss from discontinued operations | 0 | 0 | |
Net earnings | 60 | -406 | -1,528 |
Operating Segments [Member] | Community Banking Segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest Income | 62,956 | 64,967 | 77,595 |
Interest expense | -10,661 | -10,069 | -1,227 |
Intersegment interest income (expense), net | 6,721 | 6,173 | 222 |
Net interest income | 59,016 | 61,071 | 76,590 |
Provision for Loan, Lease, and Other Losses | 8,064 | 9,753 | 826 |
Gain on securities | 3,275 | 4,752 | |
FDIC loss sharing expense, net | -4,399 | -4,360 | -11,430 |
Other noninterest income | 9,575 | 7,025 | 6,897 |
Total noninterest income | 8,451 | 2,665 | 219 |
Foreclosed assets (expense) income, net | -44 | -2,286 | 1,861 |
Intangible asset amortization | -1,389 | -1,507 | -1,191 |
Acquisition, integration and reorganization costs | -1,890 | -7,381 | -2,200 |
Other noninterest expense | -55,205 | -51,605 | -40,285 |
Total noninterest expense | -58,528 | -62,779 | -41,815 |
Intersegment noninterest income, net | 26,563 | 21,953 | |
Total noninterest expense, adjusted for intersegment noninterest net income | -31,965 | -40,826 | |
Earnings (loss) from continuing operations before taxes | 43,566 | 32,663 | 35,820 |
Income Tax Expense (Benefit) | -16,873 | -13,651 | -13,039 |
Net income before income taxes | 19,012 | 22,781 | |
Loss from discontinued operations before taxes | -105 | -1,413 | |
Income tax benefit | 47 | 588 | |
Net loss from discontinued operations | -58 | -825 | |
Net earnings | $26,693 | $18,954 | $21,956 |
Subsequent_Events_Subsequent_E
Subsequent Events Subsequent Events (Details 1) | 3 Months Ended |
Mar. 31, 2015 | |
Subsequent Event [Line Items] | |
Subsequent Event, Description | 0 |
Uncategorized_Items
Uncategorized Items | |
[us-gaap_SharesOutstanding] | 103,022,017 |