Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Oct. 31, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'HAFC | ' |
Entity Registrant Name | 'HANMI FINANCIAL CORP | ' |
Entity Central Index Key | '0001109242 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 31,904,031 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and cash equivalents | $197,016 | $179,357 |
Securities available for sale, at fair value (amortized cost of $1,139,173 as of September 30, 2014 and $549,113 as of December 31, 2013) | 1,128,624 | 530,926 |
Loans held for sale, at the lower of cost or fair value | 7,757 | ' |
Loans receivable, net of allowance for loan losses of $51,179 as of September 30, 2014 and $57,555 as of December 31, 2013 | 2,628,091 | 2,177,498 |
Accrued interest receivable | 9,880 | 7,055 |
Premises and equipment, net | 31,187 | 14,221 |
Other real estate owned, net | 24,781 | 756 |
Customers' liability on acceptances | 2,428 | 2,018 |
Servicing assets | 7,844 | 6,833 |
FDIC loss sharing asset | 7,696 | ' |
Other intangible assets, net | 2,179 | 1,171 |
Investment in federal home loan bank stock, at cost | 17,579 | 14,060 |
Investment in federal reserve bank stock, at cost | 12,273 | 11,196 |
Income tax assets | 72,330 | 63,841 |
Bank-owned life insurance | 48,670 | 29,699 |
Prepaid expenses | 2,753 | 1,415 |
Other assets | 27,244 | 14,333 |
Total assets | 4,228,332 | 3,054,379 |
Deposits: | ' | ' |
Noninterest-bearing | 1,029,343 | 819,015 |
Interest-bearing | 2,568,811 | 1,693,310 |
Total deposits | 3,598,154 | 2,512,325 |
Accrued interest payable | 3,030 | 3,366 |
Bank's liability on acceptances | 2,428 | 2,018 |
Federal home loan bank advances | 110,000 | 127,546 |
Rescinded stock obligation | 15,720 | ' |
Subordinated debentures | 18,509 | ' |
Accrued expenses and other liabilities | 45,297 | 9,047 |
Total liabilities | 3,793,138 | 2,654,302 |
Stockholders' equity: | ' | ' |
Common stock, $0.001 par value; authorized 62,500,000 shares; issued 32,472,323 shares (31,894,429 shares outstanding) as of September 30, 2014 and 32,339,444 shares (31,761,550 shares outstanding) as of December 31, 2013 | 257 | 257 |
Additional paid-in capital | 554,446 | 552,270 |
Accumulated other comprehensive loss, net of tax benefit of $5,469 as of September 30, 2014 and $8,791 as of December 31, 2013 | -5,065 | -9,380 |
Accumulated deficit | -44,586 | -73,212 |
Less: treasury stock, at cost; 577,894 shares as of September 30, 2014 and December 31, 2013 | -69,858 | -69,858 |
Total stockholders' equity | 435,194 | 400,077 |
Total liabilities and stockholders' equity | $4,228,332 | $3,054,379 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Amortized cost of securities available-for-sale | $1,139,173 | $549,113 |
Allowance for loan losses of loans receivable | 51,179 | 57,555 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 62,500,000 | 62,500,000 |
Common stock, shares issued | 32,472,323 | 32,339,444 |
Common stock, shares outstanding | 31,894,429 | 31,761,550 |
Accumulated other comprehensive loss, net of tax benefit | $5,469 | $8,791 |
Treasury stock, shares | 577,894 | 577,894 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Interest and Dividend Income: | ' | ' | ' | ' |
Interest and fees on loans | $30,499 | $29,098 | $87,044 | $83,736 |
Taxable interest on investment securities | 3,138 | 2,040 | 8,050 | 6,256 |
Tax-exempt interest on investment securities | 20 | 69 | 116 | 237 |
Interest on federal funds sold | ' | ' | ' | 6 |
Interest on interest-bearing deposits in other banks | 29 | 28 | 67 | 140 |
Dividends on federal reserve bank stock | 173 | 198 | 513 | 577 |
Dividends on federal home loan bank stock | 290 | 194 | 762 | 449 |
Total interest and dividend income | 34,149 | 31,627 | 96,552 | 91,401 |
Interest Expense: | ' | ' | ' | ' |
Interest on deposits | 3,278 | 3,117 | 9,653 | 9,376 |
Interest on federal home loan bank advances | 37 | 36 | 116 | 115 |
Interest on subordinated debentures | 73 | ' | 73 | 678 |
Interest on rescinded stock obligation | 87 | ' | 87 | ' |
Total interest expense | 3,475 | 3,153 | 9,929 | 10,169 |
Net interest income before provision for credit losses | 30,674 | 28,474 | 86,623 | 81,232 |
Negative provision for credit losses | ' | ' | -7,166 | ' |
Net interest income after provision for credit losses | 30,674 | 28,474 | 93,789 | 81,232 |
Noninterest Income: | ' | ' | ' | ' |
Bargain purchase gain, net of deferred taxes | 6,593 | ' | 6,593 | ' |
Service charges on deposit accounts | 2,883 | 2,730 | 7,924 | 8,662 |
Remittance fees | 459 | 481 | 1,388 | 1,519 |
Trade finance fees | 314 | 248 | 873 | 801 |
Other service charges and fees | 380 | 349 | 1,080 | 1,082 |
Bank-owned life insurance income | 225 | 230 | 672 | 693 |
Gain on sales of SBA loans guaranteed portion | 1,221 | 994 | 2,267 | 6,064 |
Net loss on sales of other loans | ' | ' | ' | -557 |
Net gain on sales of investment securities | 67 | 611 | 1,852 | 923 |
Other operating income | 2,179 | 416 | 2,588 | 758 |
Total noninterest income | 14,321 | 6,059 | 25,237 | 19,945 |
Noninterest Expense: | ' | ' | ' | ' |
Salaries and employee benefits | 12,847 | 9,101 | 33,386 | 26,126 |
Occupancy and equipment | 3,098 | 2,561 | 7,964 | 7,532 |
Merger and integration costs | 3,415 | ' | 3,572 | ' |
Unconsummated acquisition costs | ' | 307 | ' | 1,331 |
Deposit insurance premiums and regulatory assessments | 513 | 308 | 1,349 | 1,059 |
Data processing | 1,476 | 1,146 | 3,746 | 3,436 |
Other real estate owned expense | 78 | -59 | 84 | -47 |
Professional fees | 1,386 | 599 | 2,786 | 4,095 |
Directors and officers liability insurance | 191 | 219 | 574 | 657 |
Supplies and communications | 628 | 533 | 1,725 | 1,593 |
Advertising and promotion | 809 | 1,039 | 2,142 | 2,419 |
Loan-related expense | 58 | 91 | 203 | 328 |
Amortization of other intangible assets | 33 | ' | 33 | 123 |
Other operating expenses | 2,231 | 1,791 | 6,031 | 5,369 |
Total noninterest expense | 26,763 | 17,636 | 63,595 | 53,898 |
Income before provision for income taxes | 18,232 | 16,897 | 55,431 | 47,279 |
Provision for income taxes | 4,968 | 6,582 | 19,667 | 17,510 |
Income from continuting operations, net of taxes | 13,264 | 10,315 | 35,764 | 29,769 |
Discontinued operations | ' | ' | ' | ' |
Income from operations of discontinued subsidiaries (including gain on disposal of $51 in the second quarter of 2014) | ' | 112 | 37 | 242 |
Income tax expense | ' | 42 | 481 | 81 |
Income (loss) from discontinued operations | ' | 70 | -444 | 161 |
Net income | $13,264 | $10,385 | $35,320 | $29,930 |
Basic earnings per share: | ' | ' | ' | ' |
Income from continuing operations, net of taxes | $0.42 | $0.33 | $1.13 | $0.94 |
Income from discontinued operations, net of taxes | ' | ' | ($0.02) | $0.01 |
Basic earnings per share | $0.42 | $0.33 | $1.11 | $0.95 |
Diluted earnings per share: | ' | ' | ' | ' |
Income from continuing operations, net of taxes | $0.41 | $0.33 | $1.12 | $0.94 |
Income from discontinued operations, net of taxes | ' | ' | ($0.01) | $0.01 |
Diluted earnings per share | $0.41 | $0.33 | $1.10 | $0.95 |
Weighted-average shares outstanding: | ' | ' | ' | ' |
Basic | 31,708,581 | 31,621,049 | 31,683,288 | 31,583,897 |
Diluted | 32,001,419 | 31,733,004 | 31,967,876 | 31,652,795 |
Consolidated_Statements_of_Inc1
Consolidated Statements of Income (Parenthetical) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Income Statement [Abstract] | ' |
Gain on disposal | $51 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $13,264 | $10,385 | $35,320 | $29,930 |
Unrealized gain (loss) on securities | ' | ' | ' | ' |
Unrealized holding (loss) gain arising during period | -4,947 | -10,020 | 9,491 | -16,141 |
Less: reclassification adjustment for net gain included in net income | -67 | -611 | -1,852 | -923 |
Unrealized (loss) gain on interest-only strip of servicing assets | -3 | ' | -2 | 1 |
Income tax benefit (expense) related to items of other comprehensive income | 2,102 | 4,528 | -3,322 | 7,176 |
Other comprehensive (loss) income | -2,915 | -6,103 | 4,315 | -9,887 |
Comprehensive Income | $10,349 | $4,282 | $39,635 | $20,043 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Common Stock - Number of Shares, Shares Issued [Member] | Common Stock - Number of Shares, Treasury Shares [Member] | Common Stock - Number of Shares, Shares Outstanding [Member] | Stockholders' Equity Additional Paid-in Capital [Member] | Stockholders' Equity Accumulated Other Comprehensive Income (Loss) [Member] | Stockholders' Equity Accumulated Deficit [Member] |
In Thousands, except Share data, unless otherwise specified | |||||||
Beginning balance at Dec. 31, 2012 | $378,364 | $257 | ($69,858) | ' | $550,066 | $5,418 | ($107,519) |
Beginning balance, shares at Dec. 31, 2012 | ' | 32,074,434 | -577,894 | 31,496,540 | ' | ' | ' |
Adjustment for the cumulative effect on prior years of retrospectively applying the new method of accounting | -1,112 | ' | ' | ' | ' | ' | -1,112 |
Exercises of stock options | 139 | ' | ' | ' | 139 | ' | ' |
Exercises of stock options, shares | 40,678 | 40,678 | ' | 40,678 | ' | ' | ' |
Exercises of stock warrants | 1,289 | ' | ' | ' | 1,289 | ' | ' |
Exercises of stock warrants, shares | ' | 106,315 | ' | 106,315 | ' | ' | ' |
Restricted stock awards | ' | ' | ' | ' | ' | ' | ' |
Restricted stock awards, shares | ' | 110,582 | ' | 110,582 | ' | ' | ' |
Share-based compensation expense | 387 | ' | ' | ' | 387 | ' | ' |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' |
Net income | 19,545 | ' | ' | ' | ' | ' | 19,545 |
Change in unrealized gain (loss) on securities available for sale and interest-only strips, net of income taxes | -9,887 | ' | ' | ' | ' | -9,887 | ' |
Ending balance at Sep. 30, 2013 | 388,725 | 257 | -69,858 | ' | 551,881 | -4,469 | -89,086 |
Ending balance, shares at Sep. 30, 2013 | ' | 32,332,009 | -577,894 | 31,754,115 | ' | ' | ' |
Beginning balance at Dec. 31, 2013 | 400,077 | 257 | -69,858 | ' | 552,270 | -9,380 | -73,212 |
Beginning balance, shares at Dec. 31, 2013 | ' | 32,339,444 | -577,894 | 31,761,550 | ' | ' | ' |
Exercises of stock options | 427 | ' | ' | ' | 427 | ' | ' |
Exercises of stock options, shares | 34,382 | 34,382 | ' | 34,382 | ' | ' | ' |
Exercises of stock warrants | 2 | ' | ' | ' | 2 | ' | ' |
Exercises of stock warrants, shares | ' | 429 | ' | 429 | ' | ' | ' |
Restricted stock awards | ' | ' | ' | ' | ' | ' | ' |
Restricted stock awards, shares | ' | 98,068 | ' | 98,068 | ' | ' | ' |
Share-based compensation expense | 1,747 | ' | ' | ' | 1,747 | ' | ' |
Cash dividends | -6,694 | ' | ' | ' | ' | ' | -6,694 |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' |
Net income | 35,320 | ' | ' | ' | ' | ' | 35,320 |
Change in unrealized gain (loss) on securities available for sale and interest-only strips, net of income taxes | 4,315 | ' | ' | ' | ' | 4,315 | ' |
Ending balance at Sep. 30, 2014 | $435,194 | $257 | ($69,858) | ' | $554,446 | ($5,065) | ($44,586) |
Ending balance, shares at Sep. 30, 2014 | ' | 32,472,323 | -577,894 | 31,894,429 | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Cash flows from operating activities: | ' | ' |
Net income | $35,320,000 | $29,930,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization of premises and equipment | 1,418,000 | 1,525,000 |
Amortization of premiums and accretion of discounts on investment securities, net | 2,754,000 | 1,961,000 |
Amortization of other intangible assets | 33,000 | 123,000 |
Amortization of servicing assets | 1,318,000 | 1,152,000 |
Amortization of investment in affordable housing partnerships | 592,000 | 552,000 |
Amortization of subordinated debentures | 36,000 | ' |
Share-based compensation expense | 1,747,000 | 387,000 |
Negative provision for credit losses | -7,166,000 | ' |
Gain on sales of investment securities | -1,852,000 | -923,000 |
Gain on sales of loans | -2,267,000 | -5,507,000 |
Bargain purchase gain on acquisition | -6,593,000 | ' |
Gain (loss) on sales of other real estate owned | 2,000 | -71,000 |
Loss on sales of subsidiaries | 419,000 | ' |
Valuation adjustment on other real estate owned | ' | 7,000 |
Origination of loans held for sale | -34,798,000 | -63,113,000 |
Proceeds from sales of SBA loans guaranteed portion | 29,826,000 | 77,338,000 |
Change in restricted cash | ' | 5,350,000 |
Change in accrued interest receivable | 609,000 | 624,000 |
Change in FDIC loss sharing asset | 1,996,000 | ' |
Change in bank-owned life insurance | -672,000 | -693,000 |
Change in prepaid expenses | -1,338,000 | 98,000 |
Change in other assets | -4,462,000 | 767,000 |
Change in income tax assets | -3,066,000 | 5,038,000 |
Change in accrued interest payable | -821,000 | -9,070,000 |
Change in stock warrants payable | ' | 80,000 |
Change in other liabilities | 11,670,000 | 2,422,000 |
Net cash provided by operating activities | 24,705,000 | 47,977,000 |
Cash flows from investing activities: | ' | ' |
Proceeds from redemption of federal home loan bank and federal reserve bank stock | ' | 3,740,000 |
Proceeds from matured or called securities available for sale | 61,145,000 | 62,104,000 |
Proceeds from sales of securities available for sale | 135,834,000 | 41,560,000 |
Proceeds from sales of other real estate owned | 9,932,000 | 1,645,000 |
Proceeds from sales of loans held for sale | ' | 5,380,000 |
Proceeds from insurance settlement on bank-owned life insurance | ' | 279,000 |
Cash acquired in acquisition, net of cash consideration paid | 116,967,000 | ' |
Net proceeds from sales of subsidiaries | 398,000 | ' |
Change in loans receivable | -157,988,000 | -131,169,000 |
Purchases of securities available for sale | -124,442,000 | -53,762,000 |
Purchases of premises and equipment | -739,000 | -567,000 |
Purchases of federal reserve bank stock | -3,403,000 | -978,000 |
Net cash provided by (used) in investing activities | 37,704,000 | -71,768,000 |
Cash flows from financing activities: | ' | ' |
Change in deposits | -13,168,000 | 33,744,000 |
Change in short-term federal home loan bank advances | -25,135,000 | ' |
Redemption of Federal Home Loan Bank advances | -2,411,000 | -290,000 |
Redemption of subordinated debentures | ' | -82,406,000 |
Proceeds from exercise of stock options | 427,000 | 460,000 |
Proceeds from exercise of stock warrants | ' | 305,000 |
Cash dividends paid | -4,463,000 | -2,215,000 |
Net cash used in financing activities | -44,750,000 | -50,402,000 |
Net increase (decrease) in cash and cash equivalents | 17,659,000 | -74,193,000 |
Cash and cash equivalents at beginning of year | 179,357,000 | 268,047,000 |
Cash and cash equivalents at end of period | 197,016,000 | 193,854,000 |
Cash paid during the period for: | ' | ' |
Interest | 10,750,000 | 19,239,000 |
Income taxes | 20,930,000 | 11,910,000 |
Non-cash activities: | ' | ' |
Transfer of loans receivable to other real estate owned | 7,501,000 | 1,090,000 |
Transfer of loans receivable to loans held for sale | 0 | 8,010,000 |
Transfer of loans held for sale to loans receivable | ' | 2,534,000 |
Note receivable from sale of insurance subsidiaries | 1,394,000 | ' |
Conversion of stock warrants into common stock | 2,000 | 981,000 |
Income tax (expense) benefit related to items of other comprehensive income | -3,322,000 | 7,176,000 |
Change in unrealized (gain) loss in accumulated other comprehensive income | -9,489,000 | 16,140,000 |
Cash dividend declared | ($2,231,000) | ' |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Note 1 — Basis of Presentation | |
Hanmi Financial Corporation (“Hanmi Financial,” the “Company,” “we” or “us”) is a Delaware corporation and is subject to the Bank Holding Company Act of 1956, as amended. Hanmi Bank (the “Bank”), a California state chartered bank, is a wholly owned subsidiary of Hanmi Financial. During the second quarter of 2014, we disposed of two subsidiaries, Chun-Ha Insurance Services, Inc., a California corporation (“Chun-Ha”), and All World Insurance Services, Inc., a California corporation (“All World”). See “Note 4 — Sale of Insurance Subsidiaries and Discontinued Operations.” On August 31, 2014, Hanmi Financial completed its acquisition of Central Bancorp, Inc. See “Note 2 — Acquisition.” | |
In management’s opinion, the accompanying unaudited consolidated financial statements of Hanmi Financial and its subsidiaries reflect all adjustments of a normal and recurring nature that are necessary for a fair presentation of the results for the interim period ended September 30, 2014, but are not necessarily indicative of the results that will be reported for the entire year or any other interim period. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted. The aforementioned unaudited consolidated financial statements are in conformity with GAAP. Such interim consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission. The interim information should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (the “2013 Annual Report on Form 10-K”). | |
The preparation of interim consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates subject to change include, among other items, the fair value estimates of assets acquired and liabilities assumed in Central Bancorp, Inc. (“CBI”) acquisition as discussed in “Note 2 – Acquisition.” The acquired assets and assumed liabilities of Central Bancorp, Inc. were measured at their estimated fair values. The Company made significant estimates and exercised significant judgment in estimating fair values and accounting for such acquired assets and assumed liabilities. | |
Descriptions of our significant accounting policies are included in “Note 1 — Summary of Significant Accounting Policies” in our 2013 Annual Report on Form 10-K. During the three months ended June 30, 2014, we adopted an accounting policy related to accounting for investments in low-income housing tax credit according to Financial Accounting Standards Board (“FASB”) ASU 2014-01, Accounting for Investments in Qualified Affordable Housing Projects. See “Note 3 — Accounting for Investments in Qualified Affordable Housing Projects.” During the three months ended September 30, 2014, we completed acquisition of CBI and our acquisition was accounted for using the acquisition method of accounting. See “Note 2 —Acquisition” for more information about the CBI acquisition and “Note 6 — Loans” for accounting policies regarding purchased loans. |
Acquisition
Acquisition | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||
Acquisition | ' | ||||||||||||||||
Note 2 — Acquisition | |||||||||||||||||
Acquisition of Central Bancorp, Inc. | |||||||||||||||||
On August 31, 2014, Hanmi Financial completed its acquisition of CBI, the parent company of United Central Bank (“UCB”). In the merger with CBI, each share of CBI common stock was exchanged for $17.64 per share or $50 million in the aggregate. In addition, Hanmi Financial paid $28.7 million to redeem CBI preferred stock and cumulative unpaid dividends and $1.6 million for accrued interest payable on CBI subordinated debentures immediately prior to the consummation of the merger. The merger consideration was funded from consolidated cash of Hanmi Financial. At August 31, 2014, CBI had total assets, liabilities and equity of $1.26 billion, $1.17 billion and $86.8 million, respectively. Total loans and deposits were $294.0 million and $1.1 billion, respectively, at August 31, 2014. | |||||||||||||||||
CBI was headquartered in Garland, Texas and through UCB, operated 23 branch locations within Texas, Illinois, Virginia, New York, New Jersey and California. The combined companies operate as Hanmi Financial Corporation and Hanmi Bank, respectively, with banking operations under the Hanmi Bank brand. Following the acquisition, Hanmi Bank has expanded its geographic presence through a network of 49 branches located throughout the United States. Key strategic benefits of the merger include 1) access to highly attractive markets with large Asian-American communities, creating business opportunities by leveraging Hanmi Bank’s brand and business strategies, 2) ability to realize significant cost savings and operational efficiencies for the combined company, and 3) opportunity to prudently deploy capital at an attractive return for our shareholders. | |||||||||||||||||
In connection with the acquisition, the consideration paid, the provisional estimate of the fair value of the assets acquired and the liabilities assumed as of August 31, 2014 are summarized in the following table: | |||||||||||||||||
(In thousands) | |||||||||||||||||
Consideration paid: | |||||||||||||||||
CBI Stockholders | $ | 50,000 | |||||||||||||||
Redemption of preferred stock and cumulative unpaid dividends | 28,675 | ||||||||||||||||
Accrued interest on subordinated debentures | 1,566 | ||||||||||||||||
80,241 | |||||||||||||||||
Assets acquired: | |||||||||||||||||
Cash and cash equivalents | 197,209 | ||||||||||||||||
Securities available for sale | 663,497 | ||||||||||||||||
Loans | 294,032 | ||||||||||||||||
Premises and equipment | 17,735 | ||||||||||||||||
Other real estate owned | 28,027 | ||||||||||||||||
Income tax assets, net | 8,800 | ||||||||||||||||
Core deposit intangible | 2,213 | ||||||||||||||||
FDIC loss sharing assets | 9,692 | ||||||||||||||||
Bank-owned life insurance | 18,296 | ||||||||||||||||
Other assets | 16,428 | ||||||||||||||||
Total assets acquired | 1,255,929 | ||||||||||||||||
Liabilities assumed: | |||||||||||||||||
Deposits | 1,098,997 | ||||||||||||||||
Subordinated debentures | 18,473 | ||||||||||||||||
Rescinded stock obligation | 15,720 | ||||||||||||||||
FHLB advances | 10,000 | ||||||||||||||||
Other liabilities | 25,905 | ||||||||||||||||
Total liabilities assumed | 1,169,095 | ||||||||||||||||
Total identifiable net assets | $ | 86,834 | |||||||||||||||
Bargain purchase gain, net of deferred taxes | $ | 6,593 | |||||||||||||||
The CBI acquisition was accounted for under the acquisition method of accounting pursuant to ASC 805, Business Combinations. The assets and liabilities, both tangible and intangible, were recorded at their estimated fair values as of acquisition date. The Company made significant estimates and exercised significant judgment in estimating the fair values and accounting for such acquired assets and assumed liabilities. Such fair values are preliminary estimates and are subject to adjustment for up to one year after the acquisition date or when additional information relative to the closing date fair values becomes available and such information is considered final, whichever is earlier. The fair values are based on provisional valuation estimates of the fair values of the acquired assets and assumed liabilities. The valuation of acquired loans, income taxes and the core deposit intangibles are based on a preliminary estimate and are subject to change as the provisional amounts are finalized. The provisional application of the acquisition method of accounting resulted in a bargain purchase gain of $6.6 million. The operations of CBI are included in our operating results since the acquisition date for the third quarter of 2014. Acquisition-related costs of $3.6 million for the nine months ended September 30, 2014 are expensed as incurred as merger and integration costs. These expenses are comprised primarily of system conversion costs and professional fees. | |||||||||||||||||
The $294.0 million estimated fair value of loans acquired from CBI was determined by utilizing a discounted cash flow methodology considering credit and interest rate risk. Cash flows were determined by estimating future credit losses and the rate of prepayments. Projected monthly cash flows were then discounted to present value based on a current market rate for similar loans. There was no carryover of CBI’s allowance for loan losses associated with the loans acquired as loans were initially recorded at fair value. | |||||||||||||||||
The following table summarizes the accretable yield on the purchased credit impaired loans acquired from the CBI merger at August 31, 2014. | |||||||||||||||||
(In thousands) | |||||||||||||||||
Undiscounted contractual cash flows | $ | 117,301 | |||||||||||||||
Nonaccretable discount | (18,565 | ) | |||||||||||||||
Undiscounted cash flow to be collected | 98,736 | ||||||||||||||||
Estimated fair value of PCI loans | 75,878 | ||||||||||||||||
Accretable yield | $ | 22,858 | |||||||||||||||
The core deposit intangible (“CDI”) of $2.2 million was recognized for the core deposits acquired from CBI. The CDI is amortized over its useful life of approximately ten years on an accelerated basis and reviewed for impairment at least quarterly. The amortization expense for the third quarter of 2014 was $33,000. | |||||||||||||||||
The fair value of savings and transactional deposit accounts was assumed to approximate the carrying value as these accounts have no stated maturity and are payable on demand. Expected cash flows were utilized for fair value calculation of the certificates of deposit based on the contractual terms of the certificates of deposit and the cash flows were discounted based on a current market rate for certificates of deposit with corresponding maturities. The premium for certificates of deposit was $11.3 million with $591,000 amortized in the third quarter of 2014. | |||||||||||||||||
The fair value of subordinated debentures was determined by estimating projected future cash flows and discounting them at a market rate of interest. A discount of $8.3 million was recognized for subordinated debentures, which will be amortized over their contractual term. The amortization for the third quarter of 2014 was $35,000. | |||||||||||||||||
Unaudited Pro Forma Results of Operations | |||||||||||||||||
The following table presents our unaudited pro forma results of operations for the periods presented as if the CBI acquisition had been completed on January 1, 2013. The unaudited pro forma results of operations include the historical accounts of Hanmi Financial and CBI and pro forma adjustments as may be required, including the amortization of intangibles with definite lives and the amortization or accretion of any premiums or discounts arising from fair value adjustments for assets acquired and liabilities assumed. The unaudited pro forma information is intended for informational purposes only and is not necessarily indicative of our future operating results or operating results that would have occurred had the CBI acquisition been completed at the beginning of 2013. No assumptions have been applied to the pro forma results of operations regarding possible revenue enhancements, expense efficiencies or asset dispositions. | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(In thousands, except per share data) | |||||||||||||||||
Pro forma revenues (net interest income plus noninterest income) | $ | 62,427 | $ | 55,727 | $ | 170,923 | $ | 182,135 | |||||||||
Pro forma net income from continuing operations | $ | 18,359 | $ | 12,826 | $ | 43,546 | $ | 47,201 | |||||||||
Pro forma earnings per share from continuing operations: | |||||||||||||||||
Basic | $ | 0.58 | $ | 0.41 | $ | 1.37 | $ | 1.49 | |||||||||
Diluted | $ | 0.57 | $ | 0.4 | $ | 1.36 | $ | 1.49 |
Accounting_for_Investments_in_
Accounting for Investments in Qualified Affordable Housing Projects | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Accounting Changes and Error Corrections [Abstract] | ' | ||||||||||||
Accounting for Investments in Qualified Affordable Housing Projects | ' | ||||||||||||
Note 3 — Accounting for Investments in Qualified Affordable Housing Projects | |||||||||||||
The Bank invests in qualified affordable housing projects (low income housing) and previously accounted for them under the equity method of accounting. The Bank recognized its share of partnership losses in other operating expenses with the tax benefits recognized in the income tax provision. In January 2014, the FASB issued ASU 2014-01, Accounting for Investments in Qualified Affordable Housing Projects, which amends ASC 323 to provide the ability to elect the proportional amortization method with the amortization expense and tax benefits recognized through the income tax provision. This ASU is effective for the annual period beginning after December 15, 2014, with early adoption being permitted. The Bank elected to early adopt the provisions of the ASU in the second quarter of 2014 and elected the proportional amortization method as retrospective transition. This accounting change in the amortization methodology resulted in changes to account for amortization recognized in prior periods, which impacted the balance of tax credit investments and related tax accounts. The investment amortization expense is presented as a component of the income tax provision. | |||||||||||||
The cumulative effect of the retrospective application of this accounting principle as of January 1, 2012 was a negative $1.1 million. Net income in the three and nine months ended September 30, 2013 increased by $135,000 and $51,000, respectively, due to the change in accounting principle. | |||||||||||||
The following tables present the effect of the retrospective application of this change in accounting principle on the Company’s Consolidated Balance Sheets, Statements of Income and Statement of Cash Flows for the respective periods: | |||||||||||||
Hanmi Financial Corporations and Subsidiaries | |||||||||||||
Consolidated Balance Sheet (Unaudited) | |||||||||||||
As of December 31, 2013 | |||||||||||||
As Previously | Effect of Change in | As | |||||||||||
Reported | Accounting Principle | Adjusted | |||||||||||
(In thousands) | |||||||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 179,357 | $ | — | $ | 179,357 | |||||||
Securities available for sale | 530,926 | — | 530,926 | ||||||||||
Loans receivable | 2,177,498 | — | 2,177,498 | ||||||||||
Income tax assets | 63,536 | 305 | 63,841 | ||||||||||
Other assets | 104,222 | (1,465 | ) | 102,757 | |||||||||
Total assets | $ | 3,055,539 | $ | (1,160 | ) | $ | 3,054,379 | ||||||
Liabilities and stockholders’ equity | |||||||||||||
Liabilities | $ | 2,654,302 | $ | — | $ | 2,654,302 | |||||||
Stockholders’ equity | 401,237 | (1,160 | ) | 400,077 | |||||||||
Total liabilities and stockholders’ equity | $ | 3,055,539 | $ | (1,160 | ) | $ | 3,054,379 | ||||||
Hanmi Financial Corporations and Subsidiaries | |||||||||||||
Consolidated Statements of Income (Unaudited) | |||||||||||||
For the Three Months Ended September 30, 2013 | |||||||||||||
As Previously | Effect of Change in | As | |||||||||||
Reported | Accounting Principle | Adjusted | |||||||||||
(In thousands, except per share data) | |||||||||||||
Interest and dividend income | $ | 31,627 | $ | — | $ | 31,627 | |||||||
Interest expense | 3,153 | — | 3,153 | ||||||||||
Net interest income | $ | 28,474 | $ | — | $ | 28,474 | |||||||
Noninterest income | 6,059 | — | 6,059 | ||||||||||
Noninterest expense | 17,811 | (175 | ) | 17,636 | |||||||||
Income before provision for income taxes | $ | 16,722 | $ | 175 | $ | 16,897 | |||||||
Provision for income taxes | 6,542 | 40 | 6,582 | ||||||||||
Income from continuing operations | $ | 10,180 | $ | 135 | $ | 10,315 | |||||||
Earnings per share from continuing operations | |||||||||||||
Basic | $ | 0.32 | $ | 0.01 | $ | 0.33 | |||||||
Diluted | $ | 0.32 | $ | 0.01 | $ | 0.33 | |||||||
For the Nine Months Ended September 30, 2013 | |||||||||||||
As Previously | Effect of Change in | As | |||||||||||
Reported | Accounting Principle | Adjusted | |||||||||||
(In thousands, except per share data) | |||||||||||||
Interest and dividend income | $ | 91,401 | $ | — | $ | 91,401 | |||||||
Interest expense | 10,169 | — | 10,169 | ||||||||||
Net interest income | $ | 81,232 | $ | — | $ | 81,232 | |||||||
Noninterest income | 19,945 | — | 19,945 | ||||||||||
Noninterest expense | 54,451 | (553 | ) | 53,898 | |||||||||
Income before provision for income taxes | $ | 46,726 | $ | 553 | $ | 47,279 | |||||||
Provision for income taxes | 17,008 | 502 | 17,510 | ||||||||||
Income from continuing operations | $ | 29,718 | $ | 51 | $ | 29,769 | |||||||
Earnings per share from continuing operations | |||||||||||||
Basic | $ | 0.94 | $ | — | $ | 0.94 | |||||||
Diluted | $ | 0.94 | $ | — | $ | 0.94 | |||||||
Hanmi Financial Corporations and Subsidiaries | |||||||||||||
Consolidated Statement of Cash Flows (Unaudited) | |||||||||||||
For the Nine Months Ended September 30, 2013 | |||||||||||||
As Previously | Effect of Change in | As | |||||||||||
Reported | Accounting Principle | Adjusted | |||||||||||
(In thousands) | |||||||||||||
Cash flows from operating activities: | |||||||||||||
Net income | $ | 29,879 | $ | 51 | $ | 29,930 | |||||||
Total adjustment in net income | 18,098 | (51 | ) | 18,047 | |||||||||
Net cash provided by operating activities | $ | 47,977 | $ | — | $ | 47,977 | |||||||
Cash flows from investing activities: | |||||||||||||
Net cash used in investing activities | (71,768 | ) | — | (71,768 | ) | ||||||||
Cash flows from financing activities: | |||||||||||||
Net cash used in financing activities | (50,402 | ) | — | (50,402 | ) | ||||||||
Net decrease in cash and cash equivalents | $ | (74,193 | ) | $ | — | $ | (74,193 | ) | |||||
Cash and cash equivalents at beginning of period | 268,047 | — | 268,047 | ||||||||||
Cash and cash equivalents at end of period | $ | 193,854 | $ | — | $ | 193,854 | |||||||
The Bank determined that there were no events or changes in circumstances indicating that it is more likely than not that the carrying amount of the investment will not be realized. Therefore, no impairment was recognized as of September 30, 2014 or December 31, 2013. The investment in low income housing was $21.8 million and $3.0 million as of September 30, 2014 and December 31, 2013, respectively. The Bank’s unfunded commitments related to low income housing investments was $12.6 million as of September 30, 2014 and there were none as of December 31, 2013. The Bank recognized $592,000 and $1.0 million as a component of income tax expense during the three and nine months ended September 30, 2014, respectively, and tax credits and other benefits received from the tax expenses were $821,000 and $1.4 million during the three and nine months ended September 30, 2014, respectively. |
Sale_of_Insurance_Subsidiaries
Sale of Insurance Subsidiaries and Discontinued Operations | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | ||||||||||||
Sale of Insurance Subsidiaries and Discontinued Operations | ' | ||||||||||||
Note 4 — Sale of Insurance Subsidiaries and Discontinued Operations | |||||||||||||
In June 2014, Hanmi Financial sold its insurance subsidiaries, Chun-Ha and All World, and entered into a stock purchase agreement for their sale. The subsidiaries were classified as held for sale in April 2014 and accounted for as discontinued operations. The operations and cash flows of the businesses have been eliminated and in accordance with the provisions of ASC 205, Presentation of Financial Statements, the results are reported as discontinued operations for all periods presented. | |||||||||||||
Hanmi Financial completed the sale of its two insurance subsidiaries to Chunha Holding Corporation on June 30, 2014. The total sales price was $3.5 million, of which $2.0 million was paid upon signing. The $2.0 million was reduced by $1.6 million cash and cash equivalents included in net assets of Chun-Ha and All World, resulting in $398,000 net cash proceeds. The remaining $1.5 million will be payable in three equal installments on each anniversary of the closing date through June 30, 2017. | |||||||||||||
The sale resulted in a $51,000 gain and a $4,000 income tax benefit from operating loss, offset by a $470,000 capital gain tax and a $52,000 operating loss. Consequently, net loss from discontinued operations in the second quarter of 2014 was $467,000, or $0.01 per diluted share. The discontinued operations generated noninterest income, primarily in the line item for insurance commissions, of $2.7 million in the first six months of 2014 and $1.3 million in the first quarter of 2014. They also incurred noninterest expense of $2.7 million in various line items in the first six months of 2014 and $1.4 million in the first quarter of 2014. | |||||||||||||
Summarized financial information for our discontinued operations related to Chun-Ha and All World are as follows: | |||||||||||||
June 30, | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
(In thousands) | |||||||||||||
Cash and cash equivalents | $ | 1,602 | $ | 1,396 | |||||||||
Premises and equipment, net | 90 | 79 | |||||||||||
Other intangible assets, net | 1,089 | 1,171 | |||||||||||
Other assets | 2,855 | 3,298 | |||||||||||
Total assets | $ | 5,636 | $ | 5,944 | |||||||||
Income tax payable | $ | 415 | $ | 1,304 | |||||||||
Accrued expenses and other liabilities | 1,878 | 2,171 | |||||||||||
Total liabilities | $ | 2,293 | $ | 3,475 | |||||||||
Net assets of discontinued operations | $ | 3,343 | $ | 2,469 | |||||||||
Three Months | Nine Months Ended September 30, | ||||||||||||
Ended | |||||||||||||
September 30, | |||||||||||||
2013 | 2014 | 2013 | |||||||||||
(In thousands) | |||||||||||||
Noninterest income (loss) | $ | 112 | $ | (14 | ) | $ | 242 | ||||||
Gain on disposal | — | 51 | — | ||||||||||
Income before taxes | $ | 112 | $ | 37 | $ | 242 | |||||||
Provision for income taxes | 42 | 481 | 81 | ||||||||||
Net income (loss) from discontinued operations | $ | 70 | $ | (444 | ) | $ | 161 | ||||||
Investment_Securities
Investment Securities | 9 Months Ended | ||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Investment Securities | ' | ||||||||||||||||||||||||||||||||||||
Note 5 — Investment Securities | |||||||||||||||||||||||||||||||||||||
The following is a summary of investment securities available for sale as of September 30, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||||||||||||||||
Gain | Loss | Value | |||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||
Mortgage-backed securities (1) (2) | $ | 588,638 | $ | 230 | $ | 4,711 | $ | 584,157 | |||||||||||||||||||||||||||||
Collateralized mortgage obligations (1) | 197,784 | 146 | 1,719 | 196,211 | |||||||||||||||||||||||||||||||||
U.S. government agency securities | 176,449 | — | 3,656 | 172,793 | |||||||||||||||||||||||||||||||||
SBA loan pool securities | 114,753 | 64 | 700 | 114,117 | |||||||||||||||||||||||||||||||||
Municipal bonds-tax exempt | 4,335 | 94 | — | 4,429 | |||||||||||||||||||||||||||||||||
Municipal bonds-taxable | 16,666 | 141 | 147 | 16,660 | |||||||||||||||||||||||||||||||||
Corporate bonds | 17,018 | 11 | 89 | 16,940 | |||||||||||||||||||||||||||||||||
U.S. treasury securities | 164 | — | 1 | 163 | |||||||||||||||||||||||||||||||||
Other securities | 22,916 | — | 212 | 22,704 | |||||||||||||||||||||||||||||||||
Equity security | 450 | — | — | 450 | |||||||||||||||||||||||||||||||||
Total securities available for sale | $ | 1,139,173 | $ | 686 | $ | 11,235 | $ | 1,128,624 | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Mortgage-backed securities (1) | $ | 222,768 | $ | 317 | $ | 6,026 | $ | 217,059 | |||||||||||||||||||||||||||||
Collateralized mortgage obligations (1) | 130,636 | 274 | 3,217 | 127,693 | |||||||||||||||||||||||||||||||||
U.S. government agency securities | 90,852 | — | 7,316 | 83,536 | |||||||||||||||||||||||||||||||||
Municipal bonds-tax exempt | 13,857 | 110 | 30 | 13,937 | |||||||||||||||||||||||||||||||||
Municipal bonds-taxable | 33,361 | 73 | 1,080 | 32,354 | |||||||||||||||||||||||||||||||||
Corporate bonds | 21,013 | 8 | 186 | 20,835 | |||||||||||||||||||||||||||||||||
U.S. treasury securities | 19,998 | — | 1 | 19,997 | |||||||||||||||||||||||||||||||||
SBA loan pool securities | 13,598 | — | 969 | 12,629 | |||||||||||||||||||||||||||||||||
Other securities | 3,030 | — | 144 | 2,886 | |||||||||||||||||||||||||||||||||
Total securities available for sale | $ | 549,113 | $ | 782 | $ | 18,969 | $ | 530,926 | |||||||||||||||||||||||||||||
(1) | Collateralized by residential mortgages and guaranteed by U.S. government sponsored entities | ||||||||||||||||||||||||||||||||||||
(2) | A portion of the mortgage-backed securities is comprised of home mortgage-backed securities backed by home equity conversion mortgages | ||||||||||||||||||||||||||||||||||||
The amortized cost and estimated fair value of investment securities as of September 30, 2014, by contractual maturity, are shown below. Although mortgage-backed securities and collateralized mortgage obligations have contractual maturities through 2064, expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||||||||||||||
Available for Sale | |||||||||||||||||||||||||||||||||||||
Amortized | Estimated | ||||||||||||||||||||||||||||||||||||
Cost | Fair Value | ||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||
Within one year | $ | 15,702 | $ | 15,721 | |||||||||||||||||||||||||||||||||
Over one year through five years | 73,633 | 73,247 | |||||||||||||||||||||||||||||||||||
Over five years through ten years | 139,745 | 136,900 | |||||||||||||||||||||||||||||||||||
Over ten years | 100,305 | 99,234 | |||||||||||||||||||||||||||||||||||
Mortgage-backed securities | 588,638 | 584,157 | |||||||||||||||||||||||||||||||||||
Collateralized mortgage obligations | 197,784 | 196,211 | |||||||||||||||||||||||||||||||||||
Other securities | 22,916 | 22,704 | |||||||||||||||||||||||||||||||||||
Equity security | 450 | 450 | |||||||||||||||||||||||||||||||||||
Total | $ | 1,139,173 | $ | 1,128,624 | |||||||||||||||||||||||||||||||||
FASB ASC 320, Investments – Debt and Equity Securities, requires us to periodically evaluate our investments for other-than-temporary impairment (“OTTI”). There was no OTTI charge during the nine months ended September 30, 2014. | |||||||||||||||||||||||||||||||||||||
Gross unrealized losses on investment securities available for sale, the estimated fair value of the related securities and the number of securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows as of September 30, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||||||||||
Holding Period | |||||||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||||||
Gross | Estimated | Number | Gross | Estimated | Number | Gross | Estimated | Number | |||||||||||||||||||||||||||||
Unrealized | Fair | of | Unrealized | Fair | of | Unrealized | Fair | of | |||||||||||||||||||||||||||||
Loss | Value | Securities | Loss | Value | Securities | Loss | Value | Securities | |||||||||||||||||||||||||||||
(In thousands, except number of securities) | |||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||
Mortgage-backed securities | $ | 2,947 | $ | 422,318 | 73 | $ | 1,764 | $ | 60,057 | 22 | $ | 4,711 | $ | 482,375 | 95 | ||||||||||||||||||||||
Collateralized mortgage obligations | 914 | 145,816 | 30 | 805 | 21,188 | 9 | 1,719 | 167,004 | 39 | ||||||||||||||||||||||||||||
U.S. government agency securities | 537 | 85,948 | 22 | 3,119 | 71,843 | 26 | 3,656 | 157,791 | 48 | ||||||||||||||||||||||||||||
SBA loan pool securities | 27 | 87,088 | 15 | 673 | 12,037 | 4 | 700 | 99,125 | 19 | ||||||||||||||||||||||||||||
Municipal bonds-taxable | 9 | 2,238 | 2 | 138 | 5,511 | 5 | 147 | 7,749 | 7 | ||||||||||||||||||||||||||||
Corporate bonds | — | — | — | 89 | 7,902 | 2 | 89 | 7,902 | 2 | ||||||||||||||||||||||||||||
U.S. treasury securities | 1 | 163 | 1 | — | — | — | 1 | 163 | 1 | ||||||||||||||||||||||||||||
Other securities | 111 | 19,775 | 1 | 101 | 2,924 | 5 | 212 | 22,699 | 6 | ||||||||||||||||||||||||||||
Total | $ | 4,546 | $ | 763,346 | 144 | $ | 6,689 | $ | 181,462 | 73 | $ | 11,235 | $ | 944,808 | 217 | ||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Mortgage-backed securities | $ | 3,437 | $ | 170,324 | 51 | $ | 2,589 | $ | 30,947 | 12 | $ | 6,026 | $ | 201,271 | 63 | ||||||||||||||||||||||
Collateralized mortgage obligations | 2,353 | 87,026 | 27 | 864 | 14,657 | 7 | 3,217 | 101,683 | 34 | ||||||||||||||||||||||||||||
U.S. government agency securities | 3,942 | 50,932 | 19 | 3,374 | 32,606 | 12 | 7,316 | 83,538 | 31 | ||||||||||||||||||||||||||||
Municipal bonds-tax exempt | 30 | 8,562 | 5 | — | — | — | 30 | 8,562 | 5 | ||||||||||||||||||||||||||||
Municipal bonds-taxable | 787 | 22,817 | 16 | 293 | 3,813 | 4 | 1,080 | 26,630 | 20 | ||||||||||||||||||||||||||||
Corporate bonds | 9 | 5,024 | 1 | 177 | 11,803 | 3 | 186 | 16,827 | 4 | ||||||||||||||||||||||||||||
U.S. treasury bills | 1 | 19,996 | 2 | — | — | — | 1 | 19,996 | 2 | ||||||||||||||||||||||||||||
SBA loan pool securities | — | — | — | 969 | 12,629 | 4 | 969 | 12,629 | 4 | ||||||||||||||||||||||||||||
Other securities | 48 | 1,957 | 3 | 96 | 929 | 3 | 144 | 2,886 | 6 | ||||||||||||||||||||||||||||
Total | $ | 10,607 | $ | 366,638 | 124 | $ | 8,362 | $ | 107,384 | 45 | $ | 18,969 | $ | 474,022 | 169 | ||||||||||||||||||||||
All individual securities that have been in a continuous unrealized loss position for 12 months or longer as of September 30, 2014 and December 31, 2013 had investment grade ratings upon purchase. The issuers of these securities have not established any cause for default on these securities and the various rating agencies have reaffirmed these securities’ long-term investment grade status as of September 30, 2014 and December 31, 2013. These securities have fluctuated in value since their purchase dates as market interest rates have fluctuated. | |||||||||||||||||||||||||||||||||||||
FASB ASC 320 requires other-than-temporarily impaired investment securities to be written down when fair value is below amortized cost in circumstances where: (1) an entity has the intent to sell a security; (2) it is more likely than not that an entity will be required to sell the security before recovery of its amortized cost basis; or (3) an entity does not expect to recover the entire amortized cost basis of the security. If an entity intends to sell a security or if it is more likely than not the entity will be required to sell the security before recovery, an OTTI write-down is recognized in earnings equal to the entire difference between the security’s amortized cost basis and its fair value. If an entity does not intend to sell the security or it is not more likely than not that it will be required to sell the security before recovery, the OTTI write-down is separated into an amount representing credit loss, which is recognized in earnings, and the amount related to all other factors, which is recognized in other comprehensive income. | |||||||||||||||||||||||||||||||||||||
The Company does not intend to sell these securities and it is more likely than not that we will not be required to sell the investments before the recovery of its amortized cost basis. In addition, the unrealized losses on municipal and corporate bonds are not considered other-than-temporarily impaired, as the bonds are rated investment grade and there are no credit quality concerns with the issuers. Interest payments have been made as scheduled, and management believes this will continue in the future and that the bonds will be repaid in full as scheduled. Therefore, in management’s opinion, all securities that have been in a continuous unrealized loss position for the past 12 months or longer as of September 30, 2014 and December 31, 2013 were not other-than-temporarily impaired, and therefore, no impairment charges as of September 30, 2014 and December 31, 2013 were warranted. | |||||||||||||||||||||||||||||||||||||
Realized gains and losses on sales of investment securities, proceeds from sales of investment securities and tax expense on sales of investment securities were as follows for the periods indicated: | |||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||
Gross realized gains on sales of investment securities | $ | 67 | $ | 619 | $ | 1,853 | $ | 932 | |||||||||||||||||||||||||||||
Gross realized losses on sales of investment securities | — | (8 | ) | (1 | ) | (9 | ) | ||||||||||||||||||||||||||||||
Net realized gains on sales of investment securities | $ | 67 | $ | 611 | $ | 1,852 | $ | 923 | |||||||||||||||||||||||||||||
Proceeds from sales of investment securities | $ | 9,778 | $ | 26,661 | $ | 140,855 | $ | 51,425 | |||||||||||||||||||||||||||||
For the three months ended September 30, 2014, there was a $67,000 gain in earnings resulting from the sale of investment securities that had previously been recorded as net unrealized gains of $23,000 in comprehensive income. For the three months ended September 30, 2013, there was a $611,000 net gain in earnings resulting from the sale of investment securities that had previously been recorded as net unrealized gains of $899,000 in comprehensive income. | |||||||||||||||||||||||||||||||||||||
For the nine months ended September 30, 2014, there was a $1.9 million net gain in earnings resulting from the redemption and sale of investment securities that had previously been recorded as net unrealized losses of $498,000 in comprehensive income. For the nine months ended September 30, 2013, there was a $923,000 net gain in earnings resulting from the redemption and sale of investment securities that had previously been recorded as net unrealized gains of $2.4 million in comprehensive income. | |||||||||||||||||||||||||||||||||||||
Investment securities available for sale with par values of $79.9 million and $47.6 million as of September 30, 2014 and December 31, 2013, respectively, were pledged to secure Federal Home Loan Bank (“FHLB”) advances, public deposits and for other purposes as required or permitted by law. |
Loans
Loans | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||
Loans | ' | ||||||||||||||||||||||||||||||||||||||||
Note 6 — Loans | |||||||||||||||||||||||||||||||||||||||||
The loan portfolio includes originated and purchased loans. Originated loans and purchased loans for which there was no evidence of credit deterioration at their acquisition date and 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 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 accretable yield is recorded as interest income over the estimated life of the loans using the effective yield method if the timing and amount of the future cash flows is reasonably estimable. PCI loans may be placed on nonaccrual status, including use of the cost recovery method or cash basis method of income recognition, if information is not available to reasonably estimate cash flows expected to be collected to compute its yield. The nonaccretable difference represents an estimate of the loss exposure of principal and interest related to PCI loans; 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. | |||||||||||||||||||||||||||||||||||||||||
As part of the fair value process and the subsequent accounting, the Company aggregates PCI loans into pools having common credit risk characteristics such as type and risk rating. Increases in expected cash flows over those previously estimated increase the accretable yield and are recognized as interest income prospectively. Decreases in the amount and changes in the timing of expected cash flows compared to those previously estimated decrease the accretable yield and usually result in a provision for loan losses and the establishment of an allowance for loan losses. As the accretable yield increases or decreases from changes in cash flow expectations, the offset is a decrease or increase to the nonaccretable difference. The accretable yield is measured at each financial reporting date based on information then currently available and represents the difference between the remaining undiscounted expected cash flows and the current carrying value of the loans. | |||||||||||||||||||||||||||||||||||||||||
PCI loans that are contractually past due are still considered to be accruing and performing as long as there is an expectation that the estimated cash flows will be received. If the timing and amount of cash flows is not reasonably estimable, the loans may be classified as nonaccrual with interest income recognized on either a cash basis or as a reduction of the principal amount outstanding. | |||||||||||||||||||||||||||||||||||||||||
The Board of Directors and management review and approve the Bank’s loan policy and procedures on a regular basis to reflect issues such as regulatory and organizational structure changes, strategic planning revisions, concentrations of credit, loan delinquencies and nonperforming loans, problem loans, and policy adjustments. | |||||||||||||||||||||||||||||||||||||||||
Real estate loans are loans secured by liens or interest in real estate, to provide purchase, construction, and refinance on real estate properties. Commercial and industrial loans consist of commercial term loans, commercial lines of credit, and Small Business Administration (“SBA”) loans. Consumer loans consist of auto loans, credit cards, personal loans, and home equity lines of credit. We maintain management loan review and monitoring functions that review and monitor pass graded loans as well as problem loans to prevent further deterioration. | |||||||||||||||||||||||||||||||||||||||||
The majority of the Bank’s loan portfolio consists of commercial real estate and commercial and industrial loans. The Bank has been diversifying and monitoring commercial real estate loans based on property types, underwriting standards, and portfolio liquidity and management, and certain specified limits set forth in the Bank’s loan policy. To date, most of the Bank’s lending activity occurred within Southern California. With the acquisition of CBI, our lending activities in other areas of the country will increase. | |||||||||||||||||||||||||||||||||||||||||
Loans Receivable | |||||||||||||||||||||||||||||||||||||||||
Loans receivable consisted of the following as of the dates indicated: | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, | ||||||||||||||||||||||||||||||||||||||||
Non-PCI Loans | PCI Loans | Total | 2013 | ||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property (1) | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 635,861 | $ | 15,940 | $ | 651,801 | $ | 543,619 | |||||||||||||||||||||||||||||||||
Hotel/Motel | 452,405 | 14,206 | 466,611 | 322,927 | |||||||||||||||||||||||||||||||||||||
Gas station | 340,386 | 18,069 | 358,455 | 292,557 | |||||||||||||||||||||||||||||||||||||
Other | 805,696 | 15,715 | 821,411 | 731,617 | |||||||||||||||||||||||||||||||||||||
Construction | 4,146 | — | 4,146 | — | |||||||||||||||||||||||||||||||||||||
Residential property | 106,044 | 2,686 | 108,730 | 79,078 | |||||||||||||||||||||||||||||||||||||
Total real estate loans | 2,344,538 | 66,616 | 2,411,154 | 1,969,798 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 119,175 | 350 | 119,525 | 124,391 | |||||||||||||||||||||||||||||||||||||
Commercial lines of credit | 75,246 | — | 75,246 | 71,042 | |||||||||||||||||||||||||||||||||||||
International loans | 41,127 | — | 41,127 | 36,353 | |||||||||||||||||||||||||||||||||||||
Total commercial and industrial loans | 235,548 | 350 | 235,898 | 231,786 | |||||||||||||||||||||||||||||||||||||
Consumer loans | 28,849 | 58 | 28,907 | 32,505 | |||||||||||||||||||||||||||||||||||||
Total gross loans | 2,608,935 | 67,024 | 2,675,959 | 2,234,089 | |||||||||||||||||||||||||||||||||||||
Allowance for loans losses | (51,179 | ) | — | (51,179 | ) | (57,555 | ) | ||||||||||||||||||||||||||||||||||
Deferred loan costs | 3,311 | — | 3,311 | 964 | |||||||||||||||||||||||||||||||||||||
Loans receivable, net | $ | 2,561,067 | $ | 67,024 | $ | 2,628,091 | $ | 2,177,498 | |||||||||||||||||||||||||||||||||
-1 | Includes owner-occupied property loans of $1.10 billion and $957.3 million as of September 30, 2014 and December 31, 2013, respectively. | ||||||||||||||||||||||||||||||||||||||||
Accrued interest on loans receivable was $5.8 million and $5.4 million at September 30, 2014 and December 31, 2013, respectively. At September 30, 2014 and December 31, 2013, loans receivable totaling $872.2 million and $568.7 million, respectively, were pledged to secure advances from the FHLB and the Federal Reserve Bank’s (“FRB”) federal discount window. | |||||||||||||||||||||||||||||||||||||||||
The following table details the information on the sales and reclassifications of loans receivable to loans held for sale (excluding PCI loans) by portfolio segment for the three months ended September 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||||||
Real Estate | Commercial | Consumer | Total | ||||||||||||||||||||||||||||||||||||||
and Industrial | Non-PCI | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 2,568 | $ | 1,274 | $ | — | $ | 3,842 | |||||||||||||||||||||||||||||||||
Origination of loans held for sale | 15,198 | 3,031 | — | 18,229 | |||||||||||||||||||||||||||||||||||||
Sales of loans held for sale | (12,135 | ) | (2,133 | ) | — | (14,268 | ) | ||||||||||||||||||||||||||||||||||
Principal payoffs and amortization | (20 | ) | (26 | ) | — | (46 | ) | ||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 5,611 | $ | 2,146 | $ | — | $ | 7,757 | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 2,137 | $ | 416 | $ | — | $ | 2,553 | |||||||||||||||||||||||||||||||||
Origination of loans held for sale | 15,634 | 1,501 | — | 17,135 | |||||||||||||||||||||||||||||||||||||
Reclassification from loans held for sale to loans receivable | (2,118 | ) | (416 | ) | — | (2,534 | ) | ||||||||||||||||||||||||||||||||||
Sales of loans held for sale | (10,725 | ) | (1,181 | ) | — | (11,906 | ) | ||||||||||||||||||||||||||||||||||
Principal payoffs and amortization | (20 | ) | — | — | (20 | ) | |||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 4,908 | $ | 320 | $ | — | $ | 5,228 | |||||||||||||||||||||||||||||||||
For the three months ended September 30, 2014, there was no reclassification of Non-PCI loans receivable as Non-PCI loans held for sale, and Non-PCI loans held for sale of $14.3 million were sold. In addition, there was no reclassification from Non-PCI loans held for sale to Non-PCI loans receivable. For the three months ended September 30, 2013, there was no reclassification of Non-PCI loans receivable as Non-PCI loans held for sale, and Non-PCI loans held for sale of $11.9 million were sold. | |||||||||||||||||||||||||||||||||||||||||
The following table details the information on the sales and reclassifications of loans receivable to loans held for sale (excluding PCI loans) by portfolio segment for the nine months ended September 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||||||
Real Estate | Commercial | Consumer | Total | ||||||||||||||||||||||||||||||||||||||
and Industrial | Non-PCI | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||
Origination of loans held for sale | 29,591 | 5,207 | — | 34,798 | |||||||||||||||||||||||||||||||||||||
Sales of loans held for sale | (23,953 | ) | (3,033 | ) | — | (26,986 | ) | ||||||||||||||||||||||||||||||||||
Principal payoffs and amortization | (27 | ) | (28 | ) | — | (55 | ) | ||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 5,611 | $ | 2,146 | $ | — | $ | 7,757 | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 7,977 | $ | 329 | $ | — | $ | 8,306 | |||||||||||||||||||||||||||||||||
Origination of loans held for sale | 58,725 | 4,387 | — | 63,112 | |||||||||||||||||||||||||||||||||||||
Reclassification from loans receivable to loans held for sale | 7,593 | 416 | — | 8,009 | |||||||||||||||||||||||||||||||||||||
Reclassification from loans held for sale to loans receivable | (2,118 | ) | (416 | ) | — | (2,534 | ) | ||||||||||||||||||||||||||||||||||
Sales of loans held for sale | (67,235 | ) | (4,391 | ) | — | (71,626 | ) | ||||||||||||||||||||||||||||||||||
Principal payoffs and amortization | (34 | ) | (5 | ) | — | (39 | ) | ||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 4,908 | $ | 320 | $ | — | $ | 5,228 | |||||||||||||||||||||||||||||||||
For the nine months ended September 30, 2014, there was no reclassification of Non-PCI loans receivable as Non-PCI loans held for sale, and Non-PCI loans held for sale of $27.0 million were sold. In addition, there was no reclassification from Non-PCI loans held for sale to Non-PCI loans receivable. For the nine months ended September 30, 2013, Non-PCI loans receivable of $8.0 million were reclassified as Non-PCI loans held for sale, and Non-PCI loans held for sale of $71.6 million were sold. | |||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses and Allowance for Off-Balance Sheet Items | |||||||||||||||||||||||||||||||||||||||||
Activity in the allowance for loan losses and allowance for off-balance sheet items was as follows for the periods indicated: | |||||||||||||||||||||||||||||||||||||||||
As of and for the | As of and for the | ||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 51,886 | $ | 59,876 | $ | 57,555 | $ | 63,305 | |||||||||||||||||||||||||||||||||
Charge-offs | (1,418 | ) | (4,610 | ) | (5,569 | ) | (11,124 | ) | |||||||||||||||||||||||||||||||||
Recoveries on loans previously charged off | 663 | 2,383 | 6,656 | 4,964 | |||||||||||||||||||||||||||||||||||||
Net loan (charge-offs) recoveries | (755 | ) | (2,227 | ) | 1,087 | (6,160 | ) | ||||||||||||||||||||||||||||||||||
Provision (negative provision) charged to operating expense | 48 | (10 | ) | (7,463 | ) | 494 | |||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 51,179 | $ | 57,639 | $ | 51,179 | $ | 57,639 | |||||||||||||||||||||||||||||||||
Allowance for off-balance sheet items: | |||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 1,592 | $ | 1,320 | $ | 1,247 | $ | 1,824 | |||||||||||||||||||||||||||||||||
(Negative provision) provision charged to operating expense | (48 | ) | 10 | 297 | (494 | ) | |||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 1,544 | $ | 1,330 | $ | 1,544 | $ | 1,330 | |||||||||||||||||||||||||||||||||
There was no allowance for loan losses on our PCI loans as of September 30, 2014. The allowance for off-balance sheet items is maintained at a level believed to be sufficient to absorb estimated probable losses related to these unfunded credit facilities. The determination of the allowance adequacy is based on periodic evaluations of the unfunded credit facilities including an assessment of the probability of commitment usage, credit risk factors for loans outstanding to these same customers, and the terms and expiration dates of the unfunded credit facilities. As of September 30, 2014 and 2013, the allowance for off-balance sheet items amounted to $1.5 million and $1.3 million, respectively. Net adjustments to the allowance for off-balance sheet items are included in the provision for credit losses. | |||||||||||||||||||||||||||||||||||||||||
The following table details the information on the allowance for loan losses by portfolio segment for the three months ended September 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||||||
Real Estate | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||
and Industrial | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 40,303 | $ | 9,738 | $ | 540 | $ | 1,305 | $ | 51,886 | |||||||||||||||||||||||||||||||
Charge-offs | (884 | ) | (499 | ) | (35 | ) | — | (1,418 | ) | ||||||||||||||||||||||||||||||||
Recoveries on loans previously charged off | 293 | 365 | 5 | — | 663 | ||||||||||||||||||||||||||||||||||||
(Negative provision) provision | 179 | 260 | (186 | ) | (205 | ) | 48 | ||||||||||||||||||||||||||||||||||
Ending balance | $ | 39,891 | $ | 9,864 | $ | 324 | $ | 1,100 | $ | 51,179 | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 2,027 | $ | 3,757 | $ | — | $ | — | $ | 5,784 | |||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 37,864 | $ | 6,107 | $ | 324 | $ | 1,100 | $ | 45,395 | |||||||||||||||||||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 2,411,154 | $ | 235,898 | $ | 28,907 | $ | — | $ | 2,675,959 | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 35,654 | $ | 11,970 | $ | 1,758 | $ | — | $ | 49,382 | |||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 2,308,884 | $ | 223,578 | $ | 27,091 | $ | — | $ | 2,559,553 | |||||||||||||||||||||||||||||||
Ending balance: acquired with deteriorated credit quality | $ | 66,616 | $ | 350 | $ | 58 | $ | — | $ | 67,024 | |||||||||||||||||||||||||||||||
Real Estate | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||
and Industrial | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 46,396 | $ | 11,118 | $ | 1,884 | $ | 478 | $ | 59,876 | |||||||||||||||||||||||||||||||
Charge-offs | (1,017 | ) | (3,575 | ) | (18 | ) | — | (4,610 | ) | ||||||||||||||||||||||||||||||||
Recoveries on loans previously charged off | 1,641 | 737 | 5 | — | 2,383 | ||||||||||||||||||||||||||||||||||||
Provision (negative provision) | (1,795 | ) | 388 | (232 | ) | 1,629 | (10 | ) | |||||||||||||||||||||||||||||||||
Ending balance | $ | 45,225 | $ | 8,668 | $ | 1,639 | $ | 2,107 | $ | 57,639 | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 564 | $ | 1,475 | $ | 330 | $ | — | $ | 2,369 | |||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 44,661 | $ | 7,193 | $ | 1,309 | $ | 2,107 | $ | 55,270 | |||||||||||||||||||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 1,921,659 | $ | 203,547 | $ | 34,065 | $ | — | $ | 2,159,271 | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 29,424 | $ | 12,468 | $ | 1,574 | $ | — | $ | 43,466 | |||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,892,235 | $ | 191,079 | $ | 32,491 | $ | — | $ | 2,115,805 | |||||||||||||||||||||||||||||||
The following table details the information on the allowance for loan losses by portfolio segment for the nine months ended September 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||||||
Real Estate | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||
and Industrial | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 43,550 | $ | 11,287 | $ | 1,427 | $ | 1,291 | $ | 57,555 | |||||||||||||||||||||||||||||||
Charge-offs | (2,073 | ) | (3,394 | ) | (102 | ) | — | (5,569 | ) | ||||||||||||||||||||||||||||||||
Recoveries on loans previously charged off | 3,298 | 3,338 | 20 | — | 6,656 | ||||||||||||||||||||||||||||||||||||
(Negative provision) provision | (4,884 | ) | (1,367 | ) | (1,021 | ) | (191 | ) | (7,463 | ) | |||||||||||||||||||||||||||||||
Ending balance | $ | 39,891 | $ | 9,864 | $ | 324 | $ | 1,100 | $ | 51,179 | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 2,027 | $ | 3,757 | $ | — | $ | — | $ | 5,784 | |||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 37,864 | $ | 6,107 | $ | 324 | $ | 1,100 | $ | 45,395 | |||||||||||||||||||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 2,411,154 | $ | 235,898 | $ | 28,907 | $ | — | $ | 2,675,959 | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 35,654 | $ | 11,970 | $ | 1,758 | $ | — | $ | 49,382 | |||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 2,308,884 | $ | 223,578 | $ | 27,091 | $ | — | $ | 2,559,553 | |||||||||||||||||||||||||||||||
Ending balance: acquired with deteriorated credit quality | $ | 66,616 | $ | 350 | $ | 58 | $ | — | $ | 67,024 | |||||||||||||||||||||||||||||||
Real Estate | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||
and Industrial | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 49,472 | $ | 10,636 | $ | 2,280 | $ | 917 | $ | 63,305 | |||||||||||||||||||||||||||||||
Charge-offs | (4,592 | ) | (6,314 | ) | (218 | ) | — | (11,124 | ) | ||||||||||||||||||||||||||||||||
Recoveries on loans previously charged off | 2,923 | 1,981 | 60 | — | 4,964 | ||||||||||||||||||||||||||||||||||||
Provision (negative provision) | (2,578 | ) | 2,365 | (483 | ) | 1,190 | 494 | ||||||||||||||||||||||||||||||||||
Ending balance | $ | 45,225 | $ | 8,668 | $ | 1,639 | $ | 2,107 | $ | 57,639 | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 564 | $ | 1,475 | $ | 330 | $ | — | $ | 2,369 | |||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 44,661 | $ | 7,193 | $ | 1,309 | $ | 2,107 | $ | 55,270 | |||||||||||||||||||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 1,921,659 | $ | 203,547 | $ | 34,065 | $ | — | $ | 2,159,271 | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 29,424 | $ | 12,468 | $ | 1,574 | $ | — | $ | 43,466 | |||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,892,235 | $ | 191,079 | $ | 32,491 | $ | — | $ | 2,115,805 | |||||||||||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||||||||||||||||||
As part of the on-going monitoring of the credit quality of our loan portfolio, we utilize an internal loan grading system to identify credit risk and assign an appropriate grade (from (0) to (8)) for each and every loan in our loan portfolio. A third party loan review is required on an annual basis. Additional adjustments are made when determined to be necessary. The loan grade definitions are as follows: | |||||||||||||||||||||||||||||||||||||||||
Pass and Pass-Watch: Pass and Pass-Watch loans, grades (0-4), are in compliance in all respects with the Bank’s credit policy and regulatory requirements, and do not exhibit any potential or defined weaknesses as defined under “Special Mention,” “Substandard” or “Doubtful.” This category is the strongest level of the Bank’s loan grading system. It incorporates all performing loans with no credit weaknesses. It includes cash and stock/security secured loans or other investment grade loans. | |||||||||||||||||||||||||||||||||||||||||
Special Mention: A Special Mention credit, grade (5), has potential weaknesses that deserve management’s close attention. If not corrected, these potential weaknesses may result in deterioration of the repayment of the debt and result in a Substandard classification. Loans that have significant actual, not potential, weaknesses are considered more severely classified. | |||||||||||||||||||||||||||||||||||||||||
Substandard: A Substandard credit, grade (6), has a well-defined weakness that jeopardizes the liquidation of the debt. A credit graded Substandard is not protected by the sound worth and paying capacity of the borrower, or of the value and type of collateral pledged. With a Substandard loan, there is a distinct possibility that the Bank will sustain some loss if the weaknesses or deficiencies are not corrected. | |||||||||||||||||||||||||||||||||||||||||
Doubtful: A Doubtful credit, grade (7), is one that has critical weaknesses that would make the collection or liquidation of the full amount due improbable. However, there may be pending events which may work to strengthen the credit, and therefore the amount or timing of a possible loss cannot be determined at the current time. | |||||||||||||||||||||||||||||||||||||||||
Loss: A loan classified as Loss, grade (8), is considered uncollectible and of such little value that their continuance as active bank assets is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this asset even though partial recovery may be possible in the future. Loans classified as Loss will be charged off in a timely manner. | |||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 and December 31, 2013, pass/pass-watch (grade 0-4), criticized (grade 5) and classified (grade 6-7) loans (excluding PCI loans), disaggregated by loan class, were as follows: | |||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Pass/Pass-Watch | Criticized | Classified | Total | ||||||||||||||||||||||||||||||||||||||
(Grade 0-4) | (Grade 5) | (Grade 6-7) | |||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 620,511 | $ | 12,821 | $ | 2,529 | $ | 635,861 | |||||||||||||||||||||||||||||||||
Hotel/Motel | 399,006 | 48,995 | 4,404 | 452,405 | |||||||||||||||||||||||||||||||||||||
Gas station | 320,501 | 10,054 | 9,831 | 340,386 | |||||||||||||||||||||||||||||||||||||
Other | 780,400 | 13,599 | 11,697 | 805,696 | |||||||||||||||||||||||||||||||||||||
Construction | 4,146 | — | — | 4,146 | |||||||||||||||||||||||||||||||||||||
Residential property | 103,812 | 122 | 2,110 | 106,044 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 108,908 | 1,315 | 8,952 | 119,175 | |||||||||||||||||||||||||||||||||||||
Commercial lines of credit | 74,286 | — | 960 | 75,246 | |||||||||||||||||||||||||||||||||||||
International loans | 38,676 | — | 2,451 | 41,127 | |||||||||||||||||||||||||||||||||||||
Consumer loans | 26,626 | 140 | 2,083 | 28,849 | |||||||||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 2,476,872 | $ | 87,046 | $ | 45,017 | $ | 2,608,935 | |||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
Pass/Pass-Watch | Criticized | Classified | Total | ||||||||||||||||||||||||||||||||||||||
(Grade 0-4) | (Grade 5) | (Grade 6-7) | |||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 531,014 | $ | 5,309 | $ | 7,296 | $ | 543,619 | |||||||||||||||||||||||||||||||||
Hotel/Motel | 308,483 | 1,796 | 12,648 | 322,927 | |||||||||||||||||||||||||||||||||||||
Gas station | 279,636 | 3,104 | 9,817 | 292,557 | |||||||||||||||||||||||||||||||||||||
Other | 690,481 | 8,524 | 32,612 | 731,617 | |||||||||||||||||||||||||||||||||||||
Residential property | 77,422 | — | 1,656 | 79,078 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 107,712 | 2,007 | 14,672 | 124,391 | |||||||||||||||||||||||||||||||||||||
Commercial lines of credit | 69,823 | — | 1,219 | 71,042 | |||||||||||||||||||||||||||||||||||||
International loans | 35,777 | 576 | — | 36,353 | |||||||||||||||||||||||||||||||||||||
Consumer loans | 30,044 | 163 | 2,298 | 32,505 | |||||||||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 2,130,392 | $ | 21,479 | $ | 82,218 | $ | 2,234,089 | |||||||||||||||||||||||||||||||||
The following is an aging analysis of past due loans (excluding PCI loans), disaggregated by loan class, as of the dates indicated: | |||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days or | Total Past Due | Current | Total | Accruing 90 | |||||||||||||||||||||||||||||||||||
Past Due | Past Due | More Past Due | Days or More | ||||||||||||||||||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 1,927 | $ | 146 | $ | 182 | $ | 2,255 | $ | 633,606 | $ | 635,861 | $ | — | |||||||||||||||||||||||||||
Hotel/Motel | 52 | 733 | 1,203 | 1,988 | 450,417 | 452,405 | — | ||||||||||||||||||||||||||||||||||
Gas station | 4,781 | 794 | 544 | 6,119 | 334,267 | 340,386 | — | ||||||||||||||||||||||||||||||||||
Other | 1,867 | 67 | 380 | 2,314 | 803,382 | 805,696 | 15 | ||||||||||||||||||||||||||||||||||
Construction | — | — | — | — | 4,146 | 4,146 | — | ||||||||||||||||||||||||||||||||||
Residential property | 113 | 121 | 486 | 720 | 105,324 | 106,044 | — | ||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 1,410 | 587 | 2,873 | 4,870 | 114,305 | 119,175 | — | ||||||||||||||||||||||||||||||||||
Commercial lines of credit | 274 | 197 | — | 471 | 74,775 | 75,246 | — | ||||||||||||||||||||||||||||||||||
International loans | 251 | — | — | 251 | 40,876 | 41,127 | — | ||||||||||||||||||||||||||||||||||
Consumer loans | — | — | 248 | 248 | 28,601 | 28,849 | — | ||||||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 10,675 | $ | 2,645 | $ | 5,916 | $ | 19,236 | $ | 2,589,699 | $ | 2,608,935 | $ | 15 | |||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days or | Total Past Due | Current | Total | Accruing 90 | |||||||||||||||||||||||||||||||||||
Past Due | Past Due | More Past Due | Days or More | ||||||||||||||||||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 202 | $ | 426 | $ | 2,196 | $ | 2,824 | $ | 540,794 | $ | 543,618 | $ | — | |||||||||||||||||||||||||||
Hotel/Motel | 1,087 | — | 1,532 | 2,619 | 320,308 | 322,927 | — | ||||||||||||||||||||||||||||||||||
Gas station | 141 | 410 | 153 | 704 | 291,853 | 292,557 | — | ||||||||||||||||||||||||||||||||||
Other | 423 | 2,036 | 839 | 3,298 | 728,320 | 731,618 | — | ||||||||||||||||||||||||||||||||||
Residential property | — | 122 | 279 | 401 | 78,677 | 79,078 | — | ||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 1,443 | 886 | 3,269 | 5,598 | 118,793 | 124,391 | — | ||||||||||||||||||||||||||||||||||
Commercial lines of credit | — | 150 | 250 | 400 | 70,642 | 71,042 | — | ||||||||||||||||||||||||||||||||||
International loans | — | — | — | — | 36,353 | 36,353 | — | ||||||||||||||||||||||||||||||||||
Consumer loans | 311 | 42 | 77 | 430 | 32,075 | 32,505 | — | ||||||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 3,607 | $ | 4,072 | $ | 8,595 | $ | 16,274 | $ | 2,217,815 | $ | 2,234,089 | $ | — | |||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||||||||||||||
Loans are considered impaired when nonaccrual and principal or interest payments have been contractually past due for 90 days or more, unless the loan is both well-collateralized and in the process of collection; or they are classified as Troubled Debt Restructuring (“TDR”) loans to offer terms not typically granted by the Bank; or when current information or events make it unlikely to collect in full according to the contractual terms of the loan agreements; or there is a deterioration in the borrower’s financial condition that raises uncertainty as to timely collection of either principal or interest; or full payment of both interest and principal is in doubt according to the original contractual terms. | |||||||||||||||||||||||||||||||||||||||||
We evaluate loan impairment in accordance with applicable GAAP. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate or, as a practical expedient, at the loan’s observable market price or the fair value of the collateral if the loan is collateral dependent, less costs to sell. If the measure of the impaired loan is less than the recorded investment in the loan, the deficiency will be charged off against the allowance for loan losses or, alternatively, a specific allocation will be established. Additionally, loans that are considered impaired are specifically excluded from the quarterly migration analysis when determining the amount of the allowance for loan losses required for the period. | |||||||||||||||||||||||||||||||||||||||||
The allowance for collateral-dependent loans is determined by calculating the difference between the outstanding loan balance and the value of the collateral as determined by recent appraisals. The allowance for collateral-dependent loans varies from loan to loan based on the collateral coverage of the loan at the time of designation as nonperforming. We continue to monitor the collateral coverage, using recent appraisals, on these loans on a quarterly basis and adjust the allowance accordingly. | |||||||||||||||||||||||||||||||||||||||||
The following tables provide information on impaired loans (excluding PCI loans), disaggregated by loan class, as of the dates indicated: | |||||||||||||||||||||||||||||||||||||||||
Recorded | Unpaid Principal | With No | With an | Related | |||||||||||||||||||||||||||||||||||||
Investment | Balance | Related | Allowance | Allowance | |||||||||||||||||||||||||||||||||||||
Allowance | Recorded | ||||||||||||||||||||||||||||||||||||||||
Recorded | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 4,443 | $ | 4,543 | $ | 1,940 | $ | 2,503 | $ | 256 | |||||||||||||||||||||||||||||||
Hotel/Motel | 4,042 | 4,855 | 4,042 | — | 1,261 | ||||||||||||||||||||||||||||||||||||
Gas station | 14,152 | 14,681 | 13,692 | 460 | 166 | ||||||||||||||||||||||||||||||||||||
Other | 9,856 | 11,266 | 8,518 | 1,338 | 344 | ||||||||||||||||||||||||||||||||||||
Residential property | 3,161 | 3,292 | 3,161 | — | — | ||||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 7,958 | 8,408 | 1,914 | 6,044 | 3,469 | ||||||||||||||||||||||||||||||||||||
Commercial lines of credit | 2,874 | 2,976 | 2,692 | 182 | 183 | ||||||||||||||||||||||||||||||||||||
International loans | 1,138 | 1,138 | 460 | 678 | 105 | ||||||||||||||||||||||||||||||||||||
Consumer loans | 1,758 | 1,910 | 1,758 | — | — | ||||||||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 49,382 | $ | 53,069 | $ | 38,177 | $ | 11,205 | $ | 5,784 | |||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 6,244 | $ | 6,332 | $ | 3,767 | $ | 2,477 | $ | 305 | |||||||||||||||||||||||||||||||
Hotel/Motel | 6,200 | 6,940 | 4,668 | 1,532 | 1,183 | ||||||||||||||||||||||||||||||||||||
Gas station | 9,389 | 9,884 | 8,592 | 797 | 209 | ||||||||||||||||||||||||||||||||||||
Other | 11,451 | 12,882 | 9,555 | 1,896 | 351 | ||||||||||||||||||||||||||||||||||||
Residential property | 2,678 | 2,773 | 2,678 | — | — | ||||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 13,834 | 14,308 | 2,929 | 10,905 | 3,806 | ||||||||||||||||||||||||||||||||||||
Commercial lines of credit | 614 | 686 | 173 | 441 | 252 | ||||||||||||||||||||||||||||||||||||
International loans | 1,087 | 1,087 | 286 | 801 | 78 | ||||||||||||||||||||||||||||||||||||
Consumer loans | 1,569 | 1,671 | 644 | 925 | 284 | ||||||||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 53,066 | $ | 56,563 | $ | 33,292 | $ | 19,774 | $ | 6,468 | |||||||||||||||||||||||||||||||
Average | Interest Income | Average | Interest Income | ||||||||||||||||||||||||||||||||||||||
Recorded | Recognized for | Recorded | Recognized for | ||||||||||||||||||||||||||||||||||||||
Investment for | the Three | Investment for | the Nine | ||||||||||||||||||||||||||||||||||||||
the Three Months | Months Ended | the Nine Months | Months Ended | ||||||||||||||||||||||||||||||||||||||
Ended | Ended | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 4,456 | $ | 36 | $ | 5,682 | $ | 215 | |||||||||||||||||||||||||||||||||
Hotel/Motel | 4,206 | 102 | 4,149 | 232 | |||||||||||||||||||||||||||||||||||||
Gas station | 14,181 | 218 | 12,023 | 587 | |||||||||||||||||||||||||||||||||||||
Other | 9,898 | 232 | 10,716 | 682 | |||||||||||||||||||||||||||||||||||||
Residential property | 3,173 | 30 | 2,853 | 87 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 8,118 | 126 | 10,007 | 443 | |||||||||||||||||||||||||||||||||||||
Commercial lines of credit | 2,884 | 36 | 1,447 | 61 | |||||||||||||||||||||||||||||||||||||
International loans | 1,146 | — | 1,136 | — | |||||||||||||||||||||||||||||||||||||
Consumer loans | 1,765 | 16 | 1,619 | 46 | |||||||||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 49,827 | $ | 796 | $ | 49,632 | $ | 2,353 | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 2,723 | $ | 27 | $ | 3,703 | $ | 105 | |||||||||||||||||||||||||||||||||
Hotel/Motel | 6,377 | 127 | 4,752 | 384 | |||||||||||||||||||||||||||||||||||||
Gas station | 8,777 | 229 | 8,775 | 569 | |||||||||||||||||||||||||||||||||||||
Other | 8,699 | 243 | 9,512 | 779 | |||||||||||||||||||||||||||||||||||||
Residential property | 2,992 | 33 | 3,026 | 92 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 10,581 | 191 | 12,751 | 692 | |||||||||||||||||||||||||||||||||||||
Commercial lines of credit | 840 | 23 | 1,137 | 47 | |||||||||||||||||||||||||||||||||||||
International loans | 1,197 | — | 1,342 | — | |||||||||||||||||||||||||||||||||||||
Consumer loans | 1,581 | 27 | 1,624 | 54 | |||||||||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 43,767 | $ | 900 | $ | 46,622 | $ | 2,722 | |||||||||||||||||||||||||||||||||
The following is a summary of interest foregone on impaired loans (excluding PCI loans) for the periods indicated: | |||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Interest income that would have been recognized had impaired loans performed in accordance with their original terms | $ | 1,063 | $ | 1,058 | $ | 3,490 | $ | 3,183 | |||||||||||||||||||||||||||||||||
Less: Interest income recognized on impaired loans | (796 | ) | (900 | ) | (2,353 | ) | (2,722 | ) | |||||||||||||||||||||||||||||||||
Interest foregone on impaired loans | $ | 267 | $ | 158 | $ | 1,137 | $ | 461 | |||||||||||||||||||||||||||||||||
There were no commitments to lend additional funds to borrowers whose loans are included above. | |||||||||||||||||||||||||||||||||||||||||
Nonaccrual Loans | |||||||||||||||||||||||||||||||||||||||||
Loans are placed on nonaccrual status when, in the opinion of management, the full timely collection of principal or interest is in doubt. Generally, the accrual of interest is discontinued when principal or interest payments become more than 90 days past due, unless management believes the loan is adequately collateralized and in the process of collection. However, in certain instances, we may place a particular loan on nonaccrual status earlier, depending upon the individual circumstances surrounding the loan’s delinquency. When a loan is placed on nonaccrual status, previously accrued but unpaid interest is reversed against current income. Subsequent collections of cash are applied as principal reductions when received, except when the ultimate collectability of principal is probable, in which case interest payments are credited to income. Nonaccrual loans may be restored to accrual status when principal and interest payments become current and full repayment is expected. | |||||||||||||||||||||||||||||||||||||||||
The following table details nonaccrual loans (excluding PCI loans), disaggregated by loan class, as of the dates indicated: | |||||||||||||||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 2,062 | $ | 2,946 | |||||||||||||||||||||||||||||||||||||
Hotel/Motel | 3,051 | 5,200 | |||||||||||||||||||||||||||||||||||||||
Gas station | 5,208 | 2,492 | |||||||||||||||||||||||||||||||||||||||
Other | 3,674 | 4,808 | |||||||||||||||||||||||||||||||||||||||
Residential property | 1,516 | 1,365 | |||||||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 6,060 | 7,146 | |||||||||||||||||||||||||||||||||||||||
Commercial lines of credit | 674 | 423 | |||||||||||||||||||||||||||||||||||||||
Consumer loans | 1,758 | 1,497 | |||||||||||||||||||||||||||||||||||||||
Total nonaccrual Non-PCI loans | $ | 24,003 | $ | 25,877 | |||||||||||||||||||||||||||||||||||||
The following table details nonperforming assets (excluding PCI loans) as of the dates indicated: | |||||||||||||||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Nonaccrual Non-PCI loans | $ | 24,003 | $ | 25,877 | |||||||||||||||||||||||||||||||||||||
Loans 90 days or more past due and still accruing | 15 | — | |||||||||||||||||||||||||||||||||||||||
Total nonperforming Non-PCI loans | 24,018 | 25,877 | |||||||||||||||||||||||||||||||||||||||
Other real estate owned | 24,781 | 756 | |||||||||||||||||||||||||||||||||||||||
Total nonperforming assets | $ | 48,799 | $ | 26,633 | |||||||||||||||||||||||||||||||||||||
Loans on nonaccrual status, excluding loans held for sale, totaled $24.0 million as of September 30, 2014, compared to $25.9 million as of December 31, 2013, representing a 7.2 percent decrease. Delinquent loans (defined as 30 days or more past due), excluding loans held for sale, were $19.2 million as of September 30, 2014, compared to $16.3 million as of December 31, 2013, representing a 18.2 percent increase. | |||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014, other real estate owned (“OREO”) consisted of forty properties, of which $20.2 million and $4.6 million were commercial and residential properties, respectively, with a combined carrying value of $24.8 million and no valuation adjustment. Of $24.8 million, $22.3 million was OREOs assumed in the CBI acquisition. As of December 31, 2013, there were three OREOs with a combined carrying value of $756,000 and a valuation adjustment of $56,000. | |||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructuring | |||||||||||||||||||||||||||||||||||||||||
In April 2011, the FASB issued ASU 2011-02, A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring, which clarifies the guidance for evaluating whether a restructuring constitutes a TDR. This guidance is effective for the first interim or annual period beginning on or after June 15, 2011, and should be applied retrospectively to the beginning of the annual period of adoption. For the purposes of measuring impairment of loans that are newly considered impaired, the guidance should be applied prospectively for the first interim or annual period beginning on or after June 15, 2011. | |||||||||||||||||||||||||||||||||||||||||
As a result of the amendments in ASU 2011-02, we reassessed all restructurings that occurred on or after the beginning of the annual period and identified certain receivables as TDRs. Upon identifying those receivables as TDRs, we considered them impaired and applied the impairment measurement guidance prospectively for those receivables newly identified as impaired. | |||||||||||||||||||||||||||||||||||||||||
The following table details troubled debt restructurings (excluding PCI loans), disaggregated by concession type and by loan type, as of September 30, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||
Nonaccrual TDRs | Accrual TDRs | ||||||||||||||||||||||||||||||||||||||||
Deferral | Deferral | Reduction | Extension | Total | Deferral | Deferral | Reduction | Extension | Total | ||||||||||||||||||||||||||||||||
of | of | of | of | of | of | of | of | ||||||||||||||||||||||||||||||||||
Principal | Principal | Principal | Maturity | Principal | Principal | Principal | Maturity | ||||||||||||||||||||||||||||||||||
and | and | and | and | ||||||||||||||||||||||||||||||||||||||
Interest | Interest | Interest | Interest | ||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | — | $ | — | $ | — | $ | 1,856 | $ | 1,856 | $ | 307 | $ | — | $ | — | $ | — | $ | 307 | |||||||||||||||||||||
Hotel/Motel | 1,158 | 727 | — | — | 1,885 | 991 | — | — | — | 991 | |||||||||||||||||||||||||||||||
Gas station | 1,106 | — | — | — | 1,106 | 2,351 | — | — | — | 2,351 | |||||||||||||||||||||||||||||||
Other | — | 1,532 | 465 | 59 | 2,056 | 3,310 | — | 792 | 1,378 | 5,480 | |||||||||||||||||||||||||||||||
Residential property | 755 | — | — | — | 755 | — | — | — | 311 | 311 | |||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 118 | 2 | 1,007 | 1,567 | 2,694 | 61 | 227 | 2,118 | 1,176 | 3,582 | |||||||||||||||||||||||||||||||
Commercial lines of credit | 230 | — | 316 | 128 | 674 | 2,200 | — | — | — | 2,200 | |||||||||||||||||||||||||||||||
Consumer loans | — | — | 135 | — | 135 | — | — | — | — | — | |||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 3,367 | $ | 2,261 | $ | 1,923 | $ | 3,610 | $ | 11,161 | $ | 9,220 | $ | 227 | $ | 2,910 | $ | 2,865 | $ | 15,222 | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | — | $ | — | $ | — | $ | 750 | $ | 750 | $ | — | $ | — | $ | — | $ | 474 | $ | 474 | |||||||||||||||||||||
Hotel/Motel | 1,272 | 758 | — | — | 2,030 | 1,000 | — | — | — | 1,000 | |||||||||||||||||||||||||||||||
Gas station | 1,291 | — | 729 | — | 2,020 | 365 | — | — | 2,609 | 2,974 | |||||||||||||||||||||||||||||||
Other | 403 | 1,279 | 555 | — | 2,237 | 2,956 | — | 1,253 | 2,027 | 6,236 | |||||||||||||||||||||||||||||||
Residential property | 795 | — | — | — | 795 | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 25 | 206 | 1,449 | 851 | 2,531 | 1,203 | — | 2,286 | 3,817 | 7,306 | |||||||||||||||||||||||||||||||
Commercial lines of credit | — | — | — | 173 | 173 | — | — | 191 | — | 191 | |||||||||||||||||||||||||||||||
International loans | — | — | — | — | — | — | — | 1,087 | — | 1,087 | |||||||||||||||||||||||||||||||
Consumer loans | — | — | — | — | — | — | — | 149 | — | 149 | |||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 3,786 | $ | 2,243 | $ | 2,733 | $ | 1,774 | $ | 10,536 | $ | 5,524 | $ | — | $ | 4,966 | $ | 8,927 | $ | 19,417 | |||||||||||||||||||||
As of September 30, 2014 and December 31, 2013, total TDRs, excluding loans held for sale, were $26.4 million and $30.0 million, respectively. A debt restructuring is considered a TDR if we grant a concession that we would not have otherwise considered to the borrower, for economic or legal reasons related to the borrower’s financial difficulties. Loans are considered to be TDRs if they were restructured through payment structure modifications such as reducing the amount of principal and interest due monthly and/or allowing for interest only monthly payments for six months or less. All TDRs are impaired and are individually evaluated for specific impairment using one of these three criteria: (1) the present value of expected future cash flows discounted at the loan’s effective interest rate; (2) the loan’s observable market price; or (3) the fair value of the collateral if the loan is collateral dependent. | |||||||||||||||||||||||||||||||||||||||||
At September 30, 2014 and December 31, 2013, TDRs, excluding loans held for sale, were subjected to specific impairment analysis, and $3.7 million and $2.8 million, respectively, of reserves relating to these loans were included in the allowance for loan losses. | |||||||||||||||||||||||||||||||||||||||||
The following table details troubled debt restructurings (excluding PCI loans), disaggregated by loan class, for the three months ended September 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||
Number of | Pre- | Post- | Number of | Pre- | Post- | ||||||||||||||||||||||||||||||||||||
Loans | Modification | Modification | Loans | Modification | Modification | ||||||||||||||||||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||||||||||||||
(In thousands, except number of loans) | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Hotel/Motel (1) | — | $ | — | $ | — | 1 | $ | 1,000 | $ | 1,000 | |||||||||||||||||||||||||||||||
Gas station (2) | 1 | 2,014 | 1,991 | 1 | 107 | 91 | |||||||||||||||||||||||||||||||||||
Other (3) | 1 | 395 | 385 | 2 | 1,011 | 1,014 | |||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term (4) | — | — | — | 8 | 1,015 | 1,002 | |||||||||||||||||||||||||||||||||||
Commercial lines of credit (5) | 1 | 2,092 | 2,200 | — | — | — | |||||||||||||||||||||||||||||||||||
Total Non-PCI loans | 3 | $ | 4,501 | $ | 4,576 | 12 | $ | 3,133 | $ | 3,107 | |||||||||||||||||||||||||||||||
(1) | Includes a modification of $1.0 million through a payment deferral for the three months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
(2) | Includes a modification of $2.0 million through a payment deferral for the three months ended September 30, 2014, and a modification of $91,000 through a payment deferral for the three months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
(3) | Includes a modification of $385,000 through a payment deferral for the three months ended September 30, 2014, and modifications of $365,000 through a payment deferral and reduction of principal or accrued interest and $649,000 through an extension of maturity for the three months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
(4) | Includes modifications of $381,000 through payment deferrals and $621,000 through extensions of maturity for the three months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
(5) | Includes a modification of $2.2 million through a payment deferral for the three months ended September 30, 2014. | ||||||||||||||||||||||||||||||||||||||||
During the three months ended September 30, 2014, we restructured monthly payments on three loans, with a net carrying value of $4.6 million as of September 30, 2014, through temporary payment structure modifications or re-amortization. For the restructured loans on accrual status, we determined that, based on the financial capabilities of the borrowers at the time of the loan restructuring and the borrowers’ past performance in the payment of debt service under the previous loan terms, performance and collection under the revised terms are probable. | |||||||||||||||||||||||||||||||||||||||||
The following table details troubled debt restructurings (excluding PCI loans), disaggregated by loan class, for the nine months ended September 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||
Number of | Pre- | Post- | Number of | Pre- | Post- | ||||||||||||||||||||||||||||||||||||
Loans | Modification | Modification | Loans | Modification | Modification | ||||||||||||||||||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||||||||||||||
(In thousands, except number of loans) | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail (1) | 1 | $ | 2,002 | $ | 1,856 | — | $ | — | $ | — | |||||||||||||||||||||||||||||||
Hotel/Motel (2) | — | — | — | 1 | 1,000 | 1,000 | |||||||||||||||||||||||||||||||||||
Gas station (3) | 1 | 2,040 | 1,991 | 1 | 113 | 91 | |||||||||||||||||||||||||||||||||||
Other (4) | 3 | 1,422 | 1,386 | 3 | 1,176 | 1,144 | |||||||||||||||||||||||||||||||||||
Residential property (5) | 1 | 317 | 311 | — | — | — | |||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term (6) | 5 | 327 | 263 | 15 | 1,787 | 1,625 | |||||||||||||||||||||||||||||||||||
Commercial lines of credit (7) | 3 | 2,366 | 2,563 | — | — | — | |||||||||||||||||||||||||||||||||||
International loans (8) | — | — | — | 2 | 1,584 | 1,180 | |||||||||||||||||||||||||||||||||||
Consumer loans (9) | — | — | — | 1 | 149 | 149 | |||||||||||||||||||||||||||||||||||
Total Non-PCI loans | 14 | $ | 8,474 | $ | 8,370 | 23 | $ | 5,809 | $ | 5,189 | |||||||||||||||||||||||||||||||
(1) | Includes a modification of $1.9 million through an extension of maturity for the nine months ended September 30, 2014. | ||||||||||||||||||||||||||||||||||||||||
(2) | Includes a modification of $1.0 million through an extension of maturity for the nine months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
(3) | Includes a modification of $2.0 million through a payment deferral for the nine months ended September 30, 2014, and a modification of $91,000 a payment deferral for the nine months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
(4) | Includes modifications of $1.3 million through payment deferrals and $59,000 through an extension of maturity for the nine months ended September 30, 2014, and modifications of $356,000 through a payment deferral, $130,000 through a reduction of principal or accrued interests and $649,000 through an extension of maturity for the nine months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
(5) | Includes a modification of $311,000 through an extension of maturity for the nine months ended September 30, 2014. | ||||||||||||||||||||||||||||||||||||||||
(6) | Includes modifications of $39,000 through a payment deferral, $51,000 through reductions of principal or accrued interest and $173,000 through an extension of maturity for the nine months ended September 30, 2014, and modifications of $388,000 through payment deferrals and $1.2 million through extensions of maturity for the nine months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
(7) | Includes modifications of $2.4 million through payment deferrals and $134,000 through a reduction of principal or accrued interest for the nine months ended September 30, 2014. | ||||||||||||||||||||||||||||||||||||||||
(8) | Includes modifications of $1.2 million through reductions of principal or accrued interest for the nine months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
(9) | Includes a modification of $149,000 through a reduction of principal or accrued interest for the nine months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
During the nine months ended September 30, 2014, we restructured monthly payments on 14 loans, with a net carrying value of $8.4 million as of September 30, 2014, through temporary payment structure modifications or re-amortization. For the restructured loans on accrual status, we determined that, based on the financial capabilities of the borrowers at the time of the loan restructuring and the borrowers’ past performance in the payment of debt service under the previous loan terms, performance and collection under the revised terms are probable. | |||||||||||||||||||||||||||||||||||||||||
The following table details troubled debt restructurings, excluding PCI loans, that defaulted subsequent to the modifications occurring within the previous twelve months, disaggregated by loan class, for the three and nine months ended September 30, 2014 and 2013, respectively: | |||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||||||||||
Loans | Investment | Loans | Investment | Loans | Investment | Loans | Investment | ||||||||||||||||||||||||||||||||||
(In thousands, except number of loans) | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | 1 | $ | 1,856 | — | $ | — | 1 | $ | 1,856 | — | $ | — | |||||||||||||||||||||||||||||
Other | — | — | 1 | 130 | — | — | 1 | 130 | |||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 2 | 47 | — | — | 2 | 47 | 1 | 29 | |||||||||||||||||||||||||||||||||
Commercial lines of credit | 2 | 412 | — | — | 3 | 546 | — | — | |||||||||||||||||||||||||||||||||
Total Non-PCI loans | 5 | $ | 2,315 | 1 | $ | 130 | 6 | $ | 2,449 | 2 | $ | 159 | |||||||||||||||||||||||||||||
Purchased Credit Impaired Loans | |||||||||||||||||||||||||||||||||||||||||
As part of the CBI acquisition during the third quarter ended September 30, 2014, the Company purchased loans for which there was, at acquisition, evidence of deterioration of credit quality subsequent to origination and it was probable, at acquisition, that all contractually required payments would not be collected. The following table presents the outstanding balance and carrying amount of those PCI loans as of the dates indicated: | |||||||||||||||||||||||||||||||||||||||||
Carrying | Accretable | ||||||||||||||||||||||||||||||||||||||||
Amount | Yield | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2014 | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Additions from CBI acquisition at August 31, 2014 | 75,878 | (22,858 | ) | ||||||||||||||||||||||||||||||||||||||
Accretion | 491 | 491 | |||||||||||||||||||||||||||||||||||||||
Payment received | (5,892 | ) | — | ||||||||||||||||||||||||||||||||||||||
Disposals/transfers to OREO | (3,453 | ) | 212 | ||||||||||||||||||||||||||||||||||||||
Balance at September 30, 2014 | $ | 67,024 | $ | (22,155 | ) | ||||||||||||||||||||||||||||||||||||
As of September 30, 2014, pass/pass-watch (grade 0-4), criticized (grade 5) and classified (grade 6-7) PCI loans, disaggregated by loan class, were as follows: | |||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Pass/Pass-Watch | Criticized | Classified | Total | ||||||||||||||||||||||||||||||||||||||
(Grade 0-4) | (Grade 5) | (Grade 6-7) | |||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 2,939 | $ | 215 | $ | 12,786 | $ | 15,940 | |||||||||||||||||||||||||||||||||
Hotel/Motel | 248 | — | 13,958 | 14,206 | |||||||||||||||||||||||||||||||||||||
Gas station | 10,200 | 1,205 | 6,664 | 18,069 | |||||||||||||||||||||||||||||||||||||
Other | 2,154 | — | 13,561 | 15,715 | |||||||||||||||||||||||||||||||||||||
Residential property | — | — | 2,686 | 2,686 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | — | — | 350 | 350 | |||||||||||||||||||||||||||||||||||||
Consumer loans | — | — | 58 | 58 | |||||||||||||||||||||||||||||||||||||
Total PCI loans | $ | 15,541 | $ | 1,420 | $ | 50,063 | $ | 67,024 | |||||||||||||||||||||||||||||||||
Servicing Assets | |||||||||||||||||||||||||||||||||||||||||
The changes in servicing assets for the nine months ended September 30, 2014 and 2013 were as follows: | |||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 6,833 | $ | 5,542 | |||||||||||||||||||||||||||||||||||||
Additions from CBI acquisition | 1,458 | — | |||||||||||||||||||||||||||||||||||||||
Addition related to sale of SBA loans | 871 | 1,996 | |||||||||||||||||||||||||||||||||||||||
Amortization | (1,318 | ) | (1,152 | ) | |||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 7,844 | $ | 6,386 | |||||||||||||||||||||||||||||||||||||
At September 30, 2014 and 2013, we serviced loans sold to unaffiliated parties in the amounts of $341.6 million and $330.4 million, respectively. These represented loans that have been sold for which the Bank continues to provide servicing. These loans are maintained off balance sheet and are not included in the loans receivable balance. All of the loans being serviced were SBA loans. | |||||||||||||||||||||||||||||||||||||||||
FDIC Loss Sharing Asset | |||||||||||||||||||||||||||||||||||||||||
The FDIC loss sharing asset related to the assumption of Single Family and Commercial Shared-Loss Agreement (“SLAs”) between CBI and the FDIC arising from the CBI’s acquisition of Mutual Bank. The loss sharing asset was measured at its fair value as of August 31, 2014 in conjunction with the CBI acquisition. There is a three-year recovery period which begins at the expiration of the Commercial SLA. During this period, 80% of any recoveries of previously charged-off and reimbursed Commercial SLA loans need to be reimbursed to the FDIC. As of September 30, 2014, the FDIC loss sharing asset was related to $7.7 million net receivable from the FDIC. Single-family loans under the Single family SLA as of September 30, 2014 were $3.7 million. |
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
Note 7 — Income Taxes | |
The Company’s income tax expenses for the continuing operations were $5.0 million for the three months ended September 30, 2014, compared to $6.6 million for the same period in 2013. The effective income tax rate was 27.25 percent for the three months ended September 30, 2014, compared to 38.95 percent for the same period in 2013. For the nine months ended September 30, 2014, income tax expense for the continuing operations were $19.7 million, compared to $17.5 million for the same period in 2013. The effective income tax rate was 35.48 percent, compared to 41.42 percent for the same period in 2013. The decrease in the effective tax rate for the three months ended September 30, 2014 was due mainly to tax rate reduction to the adjustment for the nontaxable bargain purchase gain, which is excluded from taxable income. The decrease in the effective tax rate for the nine months ended September 30, 2014, as compared to the same period in 2013, was due mainly to tax rate reduction to the adjustment for the bargain purchase gain, a $400,000 deferred tax benefit generated from the sale of the insurance businesses and tax benefits to be realized from investments in low income tax credit funds, offset by the expiration of the California EZ net interest deduction and EZ hiring credits. Management concluded that no valuation allowance is required for the deferred tax assets except for the portion related to certain state net operating losses as of September 30, 2014. | |
As of September 30, 2014, the Company was subject to examinations by various federal and state tax authorities for the tax years ended December 31, 2004 through 2013. As of September 30, 2014, the Company was subjected to audits or examinations by the Internal Revenue Service for the 2009 tax year and the California Franchise Tax Board for the 2008 and 2009 tax years. Management does not anticipate any material changes in our financial statements due to the results of the audits. |
Subordinated_Debentures_and_Re
Subordinated Debentures and Rescinded Stock Obligation | 9 Months Ended |
Sep. 30, 2014 | |
Debt Disclosure [Abstract] | ' |
Subordinated Debentures and Rescinded Stock Obligation | ' |
Note 8 — Subordinated Debentures and Rescinded Stock Obligation | |
Subordinated Debentures | |
During the third quarter of 2014 with the acquisition of CBI, the Company assumed CBI’s Junior Subordinated Deferrable Interest Debentures (“Subordinated Debentures”) with a notional balance of $26.8 million and an estimated fair value of $18.5 million. The $8.3 million discount will be amortized to interest expense over the remaining term. In December 2005, a trust was formed by CBI and issued $26.0 million Trust Preferred Securities (“TPS”) at 6.26 percent fixed rate for the first five years and a variable rate at the 3 month LIBOR plus 140 basis thereafter and invested the proceeds Subordinated Debentures. The Subordinated Debentures will mature on December 31, 2035, which date may be shortened to, at the Bank’s option if certain conditions are met. The TPS will be subject to mandatory redemption if the Subordinated Debentures are repaid by the Bank. Interest is payable quarterly, and the Bank has the option to defer interest payments on the Subordinated Debentures from time to time for a period not to exceed five consecutive years. Interest expense related to the amortization discount was 35,000 for the three months ended September 30, 2014. | |
Rescinded Stock Obligation | |
Hanmi Finanical assumed a rescinded stock obligation of $15.7 million and related accrued interest payable of $4.9 million at the closing date. The obligation resulted from the issuance of CBI common shares more than what was legally authorized in 2009 and 2010. Interest has been accrued on the obligation with interest rates varying state to state. Interest expense of $87,000 was recorded in September 2014, reflecting a weighted average rate of 6.79%. Accrued interest on the obligation as of September 30, 2014 was $5.1 million. Hanmi Financial has been in the process of paying off the obligation since the acquisition date. |
Stockholders_Equity
Stockholders' Equity | 9 Months Ended |
Sep. 30, 2014 | |
Equity [Abstract] | ' |
Stockholders' Equity | ' |
Note 9 — Stockholders’ Equity | |
Stock Warrants | |
As part of the agreement dated as of July 27, 2010 with Cappello Capital Corp., the placement agent in connection with our best efforts offering and the financial advisor in connection with our completed rights offering, we issued warrants to purchase 250,000 shares of our common stock for services performed. The warrants have an exercise price of $9.60 per share. According to the agreement, the warrants vested on October 14, 2010 and are exercisable until their expiration on October 14, 2015. The Company followed the guidance of FASB ASC Topic 815-40, Derivatives and Hedging—Contracts in Entity’s Own Stock, which establishes a framework for determining whether certain freestanding and embedded instruments are indexed to a company’s own stock for purposes of evaluation of the accounting for such instruments under existing accounting literature. Under GAAP, the issuer is required to measure the fair value of the equity instruments in the transaction as of earlier of (i) the date at which a commitment for performance by the counterparty to earn the equity instruments is reached or (ii) the date at which the counterparty’s performance is complete. The fair value of the warrants at the date of issuance totaling $2.0 million was recorded as a liability and a cost of equity, which was determined by the Black-Scholes option pricing model. The expected stock volatility was based on historical volatility of our common stock over the expected term of the warrants. We used a weighted average expected stock volatility of 111.46 percent. The expected life assumption was based on the contract term of five years. The dividend yield of zero was based on the fact that we had no intention to pay cash dividends for the term at the grant date. The risk free rate of 2.07 percent used for the warrants was equal to the zero coupon rate in effect at the time of the grant. During the third quarter of 2014, the remaining stock warrants were exercised and there were no outstanding stock warrants as of September 30, 2014. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Accumulated Other Comprehensive Income | ' | ||||||||||||||||
Note 10 – Accumulated Other Comprehensive Income | |||||||||||||||||
Activity in accumulated other comprehensive income for the three months ended September 30, 2014 and 2013 was as follows: | |||||||||||||||||
Unrealized Gains | Unrealized Gains | Tax Benefit | Total | ||||||||||||||
and Losses on | and Losses on | ||||||||||||||||
Available-for-Sale | Interest-Only | ||||||||||||||||
Securities | Strip | ||||||||||||||||
(In thousands) | |||||||||||||||||
For the three months ended September 30 2014: | |||||||||||||||||
Balance at beginning of period | $ | (5,534 | ) | $ | 17 | $ | 3,367 | $ | (2,150 | ) | |||||||
Other comprehensive (loss) income before reclassification | (4,947 | ) | (3 | ) | 2,102 | (2,848 | ) | ||||||||||
Reclassification from accumulated other comprehensive income | (67 | ) | — | — | (67 | ) | |||||||||||
Period change | (5,014 | ) | (3 | ) | 2,102 | (2,915 | ) | ||||||||||
Balance at end of period | $ | (10,548 | ) | $ | 14 | $ | 5,469 | $ | (5,065 | ) | |||||||
For the three months ended September 30, 2013: | |||||||||||||||||
Balance at beginning of period | $ | 915 | $ | 17 | $ | 702 | $ | 1,634 | |||||||||
Other comprehensive (loss) income before reclassification | (10,020 | ) | — | 4,528 | (5,492 | ) | |||||||||||
Reclassification from accumulated other comprehensive income | (611 | ) | — | — | (611 | ) | |||||||||||
Period change | (10,631 | ) | — | 4,528 | (6,103 | ) | |||||||||||
Balance at end of period | $ | (9,716 | ) | $ | 17 | $ | 5,230 | $ | (4,469 | ) | |||||||
For the three months ended September 30, 2014, there were a $2.8 million of net unrealized loss on available-for-sale securities and interest-only strip, and a $67,000 reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. The $67,000 reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of investment securities under noninterest income. The securities were previously recorded as unrealized gains of $23,000 in accumulated other comprehensive income. | |||||||||||||||||
For the three months ended September 30, 2013, there were a $5.5 million of net unrealized loss on available-for-sale securities and interest-only strip, and a $611,000 reclassification from accumulated other comprehensive income to gains in earnings resulting from the redemption and sale of available-for-sale securities. The $611,000 reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of investment securities under noninterest income. The securities were previously recorded as unrealized gains of $899,000 in accumulated other comprehensive income. | |||||||||||||||||
Activity in accumulated other comprehensive income for the nine months ended September 30, 2014 and 2013 was as follows: | |||||||||||||||||
Unrealized Gains | Unrealized Gains | Tax Benefit | Total | ||||||||||||||
and Losses on | and Losses on | (Expense) | |||||||||||||||
Available-for-Sale | Interest-Only | ||||||||||||||||
Securities | Strip | ||||||||||||||||
(In thousands) | |||||||||||||||||
For the nine months ended September 30 2014: | |||||||||||||||||
Balance at beginning of period | $ | (18,187 | ) | $ | 16 | $ | 8,791 | $ | (9,380 | ) | |||||||
Other comprehensive income (loss) before reclassification | 9,491 | (2 | ) | (3,322 | ) | 6,167 | |||||||||||
Reclassification from accumulated other comprehensive income | (1,852 | ) | — | — | (1,852 | ) | |||||||||||
Period change | 7,639 | (2 | ) | (3,322 | ) | 4,315 | |||||||||||
Balance at end of period | $ | (10,548 | ) | $ | 14 | $ | 5,469 | $ | (5,065 | ) | |||||||
For the nine months ended September 30, 2013: | |||||||||||||||||
Balance at beginning of period | $ | 7,348 | $ | 16 | $ | (1,946 | ) | $ | 5,418 | ||||||||
Other comprehensive (loss) income before reclassification | (16,141 | ) | 1 | 7,176 | (8,964 | ) | |||||||||||
Reclassification from accumulated other comprehensive income | (923 | ) | — | — | (923 | ) | |||||||||||
Period change | (17,064 | ) | 1 | 7,176 | (9,887 | ) | |||||||||||
Balance at end of period | $ | (9,716 | ) | $ | 17 | $ | 5,230 | $ | (4,469 | ) | |||||||
For the nine months ended September 30, 2014, there were a $6.2 million of net unrealized gain on available-for-sale securities and interest-only strip, and a $1.8 million reclassification from accumulated other comprehensive income to gains in earnings resulting from the sale of available-for-sale securities. The $1.8 million reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of investment securities under noninterest income. The securities were previously recorded as unrealized losses of $498,000 in accumulated other comprehensive income. | |||||||||||||||||
For the nine months ended September 30, 2013, there were a $9.0 million of net unrealized loss on available-for-sale securities and interest-only strip, and a $923,000 reclassification from accumulated other comprehensive income to gains in earnings resulting from the redemption of available-for-sale securities. The $923,000 reclassification adjustment out of accumulated other comprehensive income was included in net gain on sales of investment securities under noninterest income. The securities were previously recorded as unrealized gains of $2.4 million in accumulated other comprehensive income. |
Regulatory_Matters
Regulatory Matters | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Banking and Thrift [Abstract] | ' | ||||||||||||||||||||||||
Regulatory Matters | ' | ||||||||||||||||||||||||
Note 11 — Regulatory Matters | |||||||||||||||||||||||||
Risk-Based Capital | |||||||||||||||||||||||||
Federal bank regulatory agencies require bank holding companies and banks to maintain a minimum ratio of qualifying total capital to risk-weighted assets of 8.0 percent and a minimum ratio of Tier 1 capital to risk-weighted assets of 4.0 percent. In addition to the risk-based guidelines, the agencies require bank holding companies and banks to maintain a minimum ratio of Tier 1 capital to average assets, referred to as the leverage ratio, of 4.0 percent. | |||||||||||||||||||||||||
In order for banks to be considered “well capitalized,” the agencies require them to maintain a minimum ratio of qualifying total capital to risk-weighted assets of 10.0 percent and a minimum ratio of Tier 1 capital to risk-weighted assets of 6.0 percent. In addition to the risk-based guidelines, the agencies require depository institutions to maintain a minimum ratio of Tier 1 capital to average assets, referred to as the leverage ratio, of 5.0 percent. | |||||||||||||||||||||||||
The capital ratios of Hanmi Financial and the Bank as of September 30, 2014 and December 31, 2013 were as follows: | |||||||||||||||||||||||||
Actual | Minimum | Minimum to Be | |||||||||||||||||||||||
Regulatory | Categorized as | ||||||||||||||||||||||||
Requirement | “Well Capitalized” | ||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
Total capital (to risk-weighted assets): | |||||||||||||||||||||||||
Hanmi Financial | $ | 482,481 | 16.33 | % | $ | 236,338 | 8 | % | N/A | N/A | |||||||||||||||
Hanmi Bank | $ | 482,802 | 16.28 | % | $ | 237,193 | 8 | % | $ | 296,492 | 10 | % | |||||||||||||
Tier 1 capital (to risk-weighted assets): | |||||||||||||||||||||||||
Hanmi Financial | $ | 445,357 | 15.08 | % | $ | 118,169 | 4 | % | N/A | N/A | |||||||||||||||
Hanmi Bank | $ | 444,771 | 15 | % | $ | 118,597 | 4 | % | $ | 177,895 | 6 | % | |||||||||||||
Tier 1 capital (to average assets): | |||||||||||||||||||||||||
Hanmi Financial | $ | 445,357 | 12.8 | % | $ | 139,169 | 4 | % | N/A | N/A | |||||||||||||||
Hanmi Bank | $ | 444,771 | 12.81 | % | $ | 138,926 | 4 | % | $ | 173,658 | 5 | % | |||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Total capital (to risk-weighted assets): | |||||||||||||||||||||||||
Hanmi Financial | $ | 426,614 | 17.48 | % | $ | 195,210 | 8 | % | N/A | N/A | |||||||||||||||
Hanmi Bank | $ | 409,095 | 16.79 | % | $ | 194,880 | 8 | % | $ | 243,600 | 10 | % | |||||||||||||
Tier 1 capital (to risk-weighted assets): | |||||||||||||||||||||||||
Hanmi Financial | $ | 395,763 | 16.26 | % | $ | 97,605 | 4 | % | N/A | N/A | |||||||||||||||
Hanmi Bank | $ | 378,295 | 15.53 | % | $ | 97,440 | 4 | % | $ | 146,160 | 6 | % | |||||||||||||
Tier 1 capital (to average assets): | |||||||||||||||||||||||||
Hanmi Financial | $ | 395,763 | 13.62 | % | $ | 116,249 | 4 | % | N/A | N/A | |||||||||||||||
Hanmi Bank | $ | 378,295 | 13.05 | % | $ | 115,984 | 4 | % | $ | 144,980 | 5 | % | |||||||||||||
Regulatory Capital Rule Adjustments | |||||||||||||||||||||||||
In July 2013, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation approved the Basel III regulatory capital framework and related Dodd-Frank Wall Street Reform and Consumer Protection Act changes. The rules revise minimum capital requirements and adjust prompt corrective action thresholds. The rules also revise the regulatory capital elements, add a new common equity Tier I capital ratio, and increase the minimum Tier I capital ratio requirement. The revisions permit banking organizations to retain, through a one-time election, the existing treatment for accumulated other comprehensive income. Additionally, the rules implement a new capital conservation buffer. Under the final rules, an institution is subject to limitations on paying dividends, engaging in share repurchases, and paying discretionary bonuses if its capital level falls below the capital conservation buffer amount. The rules will become effective January 1, 2015 for smaller, non-complex banking organizations with full implementation of the capital conservation buffer and certain deductions and adjustments to regulatory capital through January 1, 2019. The Company will continue to evaluate the new changes, and expects that the Company and the Bank will meet the capital requirements. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||||
Note 12 — Fair Value Measurements | |||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||
FASB ASC 820, Fair Value Measurements and Disclosures, 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 for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The three-level fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value are defined as follows: | |||||||||||||||||||||
• | Level 1 - | Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. | |||||||||||||||||||
• | Level 2 - | Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, and other inputs that are observable or can be corroborated by observable market data. | |||||||||||||||||||
• | Level 3 - | Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. | |||||||||||||||||||
Fair value is used on a recurring basis for certain assets and liabilities in which fair value is the primary basis of accounting. Additionally, fair value is used on a non-recurring basis to evaluate assets or liabilities for impairment or for disclosure purposes. | |||||||||||||||||||||
We record investment securities available for sale at fair value on a recurring basis. Certain other assets, such as loans held for sale, impaired loans, other real estate owned, and other intangible assets, are recorded at fair value on a non-recurring basis. Non-recurring fair value measurements typically involve assets that are periodically evaluated for impairment and for which any impairment is recorded in the period in which the re-measurement is performed. | |||||||||||||||||||||
The following methods and assumptions were used to estimate the fair value of each class of financial instrument below: | |||||||||||||||||||||
Investment securities available for sale – The fair values of investment securities available for sale are determined by obtaining quoted prices on nationally recognized securities exchanges. If quoted prices are not available, fair values are measured using matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities, or other model-based valuation techniques requiring observable inputs other than quoted prices such as yield curve, prepayment speeds, and default rates. Level 1 investment securities include U.S. government and agency debentures and equity securities that are traded on an active exchange or by dealers or brokers in active over-the-counter markets. The fair value of these securities is determined by quoted prices on an active exchange or over-the-counter market. Level 2 investment securities primarily include mortgage-backed securities, municipal bonds, collateralized mortgage obligations, SBA loan pool securities, and equity securities in markets that are not active. In determining the fair value of the securities categorized as Level 2, we obtain reports from nationally recognized broker-dealers detailing the fair value of each investment security held as of each reporting date. The broker-dealers use prices obtained from nationally recognized pricing services to value our fixed income securities. The fair value of the municipal bonds is determined based on a proprietary model maintained by the broker-dealers. We review the prices obtained for reasonableness based on our understanding of the marketplace, and also consider any credit issues related to the bonds. As we have not made any adjustments to the market quotes provided to us and as they are based on observable market data, they have been categorized as Level 2 within the fair value hierarchy. Level 3 investment securities are instruments that are not traded in the market. As such, no observable market data for the instrument is available, which necessitates the use of significant unobservable inputs. | |||||||||||||||||||||
As of September 30, 2014, we had a zero coupon tax credit municipal bond of $718,000 compared to $748,000 as of December 31, 2013. This bond was recorded at estimated fair value using a discounted cash flow method, and was measured on a recurring basis with Level 3 inputs. Key assumptions used in measuring the fair value of the tax credit bond as of September 30, 2014 were discount rate and cash flows. The discount rate was derived from the term structure of Bank Qualified (“BQ”) “BBB” rated municipal bonds, as the tax credit bond’s guarantee had the similar credit strength. The contractual future cash flows were the tax credits to be received for a remaining life of 0.48 year. We do not anticipate a significant deterioration of the tax credit bond’s credit quality. Management reviews the discount rate on an ongoing basis based on current market rates. | |||||||||||||||||||||
SBA loans held for sale – SBA loans held for sale are carried at the lower of cost or fair value. As of September 30, 2014 and December 31, 2013, we had $7.8 million and zero of SBA loans held for sale, respectively. Management obtains quotes, bids or pricing indication sheets on all or part of these loans directly from the purchasing financial institutions. Premiums received or to be received on the quotes, bids or pricing indication sheets are indicative of the fact that cost is lower than fair value. At September 30, 2014 and December 31, 2013, the entire balance of SBA loans held for sale was recorded at its cost. We record SBA loans held for sale on a nonrecurring basis with Level 2 inputs. | |||||||||||||||||||||
Impaired loans, excluding 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 $100,000 and all performing restructured loans are reviewed individually for the amount of impairment, if any. Nonaccrual Non-PCI loans with an unpaid principal balance of $100,000 or less are evaluated for impairment collectively. The Company does not record loans at fair value on a recurring basis. However, from time to time, nonrecurring fair value adjustments to collateral dependent impaired loans are recorded based on either the current appraised value of the collateral, a Level 2 measurement, or management’s judgment and estimation of value reported on older appraisals that are then adjusted based on recent market trends, a Level 3 measurement. | |||||||||||||||||||||
Other real estate owned – Fair value of OREO is based primarily on third party appraisals, less costs to sell and result in a Level 2 classification of the inputs for determining fair value. Appraisals are required annually and may be updated more frequently as circumstances require and the fair value adjustments are made to OREO based on the updated appraised value of the property. | |||||||||||||||||||||
Nonperforming loans held for sale – We reclassify certain nonperforming loans as held for sale when we decide to sell those loans. The fair value of nonperforming loans held for sale is generally based upon the quotes, bids or sales contract prices which approximate their fair value. Nonperforming loans held for sale are recorded at estimated fair value less anticipated liquidation cost. As of September 30, 2014 and December 31, 2013, we did not have nonperforming loans held for sale, which are measured on a nonrecurring basis with Level 2 inputs. | |||||||||||||||||||||
Stock warrants – The Company followed the guidance of FASB ASC Topic 815-40, Derivatives and Hedging—Contracts in Entity’s Own Stock, which establishes a framework for determining whether certain freestanding and embedded instruments are indexed to a company’s own stock for purposes of evaluation of the accounting for such instruments under existing accounting literature. Under GAAP, the issuer is required to measure the fair value of the equity instruments in the transaction as of earlier of (i) the date at which a commitment for performance by the counterparty to earn the equity instruments is reached or (ii) the date at which the counterparty’s performance is complete. The fair value of the warrants was recorded as a liability and a cost of equity, which was determined by the Black-Scholes option pricing modeling and was measured on a recurring basis with Level 3 inputs. | |||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||||||
There were no transfers of assets between Level 1 and Level 2 of the fair value hierarchy for the three months ended September 30, 2014. As of September 30, 2014 and December 31, 2013, assets and liabilities measured at fair value on a recurring basis are as follows: | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||
Quoted Prices in | Significant | Significant | Balance | ||||||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||||||
for Identical | Inputs with No | Inputs | |||||||||||||||||||
Assets | Active Market | ||||||||||||||||||||
with Identical | |||||||||||||||||||||
Characteristics | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||
Mortgage-backed securities | $ | — | $ | 584,157 | $ | — | $ | 584,157 | |||||||||||||
Collateralized mortgage obligations | — | 196,211 | — | 196,211 | |||||||||||||||||
U.S. government agency securities | 172,793 | — | — | 172,793 | |||||||||||||||||
SBA loan pools securities | — | 114,117 | — | 114,117 | |||||||||||||||||
Municipal bonds-tax exempt | — | 3,711 | 718 | 4,429 | |||||||||||||||||
Municipal bonds-taxable | — | 16,660 | — | 16,660 | |||||||||||||||||
Corporate bonds | — | 16,940 | — | 16,940 | |||||||||||||||||
U.S. treasury securities | 163 | — | — | 163 | |||||||||||||||||
Other securities | — | 22,704 | — | 22,704 | |||||||||||||||||
Equity security | — | — | 450 | 450 | |||||||||||||||||
Total securities available for sale | $ | 172,956 | $ | 954,500 | $ | 1,168 | $ | 1,128,624 | |||||||||||||
December 31, 2013 | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||
Mortgage-backed securities | $ | — | $ | 217,059 | $ | — | $ | 217,059 | |||||||||||||
Collateralized mortgage obligations | — | 127,693 | — | 127,693 | |||||||||||||||||
U.S. government agency securities | 83,536 | — | — | 83,536 | |||||||||||||||||
SBA loan pools securities | — | 12,629 | — | 12,629 | |||||||||||||||||
Municipal bonds-tax exempt | — | 13,189 | 748 | 13,937 | |||||||||||||||||
Municipal bonds-taxable | — | 32,354 | — | 32,354 | |||||||||||||||||
Corporate bonds | — | 20,835 | — | 20,835 | |||||||||||||||||
U.S. treasury securities | 19,997 | — | — | 19,997 | |||||||||||||||||
Other securities | — | 2,886 | — | 2,886 | |||||||||||||||||
Total securities available for sale | $ | 103,533 | $ | 426,645 | $ | 748 | $ | 530,926 | |||||||||||||
Liabilities: | |||||||||||||||||||||
Stock warrants | $ | — | $ | — | $ | 2 | $ | 2 | |||||||||||||
The table below presents a reconciliation and income statement classification of gains and losses for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended September 30, 2014: | |||||||||||||||||||||
Beginning | Purchases, | Realized | Unrealized | Ending | |||||||||||||||||
Balance as of | Issuances | Gains or | Gains or | Balance as of | |||||||||||||||||
January 1, | and | Losses | Losses | September 30, | |||||||||||||||||
2014 | Settlement | in Earnings | in Other | 2014 | |||||||||||||||||
Comprehensive | |||||||||||||||||||||
Income | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Municipal bonds-tax exempt (1) | $ | 748 | $ | — | $ | — | $ | (30 | ) | $ | 718 | ||||||||||
Equity securities (2) | $ | — | $ | 450 | $ | — | $ | — | $ | 450 | |||||||||||
Liabilities: | |||||||||||||||||||||
Stock warrants (3) | $ | 2 | $ | (2 | ) | $ | — | $ | — | $ | — | ||||||||||
(1) | Reflects a zero coupon tax credit municipal bond. As the Company was not able to obtain a price from independent external pricing service providers, the discounted cash flow method was used to determine its fair value. The bond carried a par value of $700,000 and an amortized value of $700,000 with a remaining life of 0.48 year at September 30, 2014. | ||||||||||||||||||||
(2) | Reflects two equity securities that are not actively traded. The fair value of one equity security with a fair value of $250,000 was computed using valuation multiples (price to book and price to earnings) derived from market transactions for comparable companies. The other equity security with a fair value of $200,000 was computed using valuation multiples (price to book and price to earnings) derived from 1) market transactions for comparable companies, and 2) publicly-traded comparable companies. In addition to these approaches, the Company considered a discounted cash flow approach, which cash flows, calculated based on a redemption or liquidation policy of the equity issuer, are discounted back to the present using a 10.5% discount rate. | ||||||||||||||||||||
(3) | Reflects warrants for our common stock issued in connection with services Cappello Capital Corp. provided to us as a placement agent in connection with our best efforts public offering and as our financial adviser in connection with our completed rights offering. The warrants were immediately exercisable when issued at an exercise price of $9.60 per share of our common stock and expire on October 14, 2015. There were no outstanding stock warrants as of September 30, 2014. See “Note 9 – Stockholders’ Equity” for more details. | ||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis | |||||||||||||||||||||
As of September 30, 2014 and December 31, 2013, assets and liabilities measured at fair value on a non-recurring basis are as follows: | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||
Quoted Prices in | Significant | Significant | Loss During the | ||||||||||||||||||
Active Markets | Observable | Unobservable | Nine Months Ended | ||||||||||||||||||
for Identical | Inputs With No | Inputs | 30-Sep-14 | ||||||||||||||||||
Assets | Active Market | ||||||||||||||||||||
With Identical | |||||||||||||||||||||
Characteristics | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Impaired loans (excluding PCI loans) (1) | $ | — | $ | 34,373 | $ | 2,199 | $ | 2,905 | |||||||||||||
Other real estate owned (2) | — | 24,781 | — | — | |||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||
Quoted Prices in | Significant | Significant | Loss During the | ||||||||||||||||||
Active Markets | Observable | Unobservable | Twelve Months Ended | ||||||||||||||||||
for Identical | Inputs With No | Inputs | 31-Dec-13 | ||||||||||||||||||
Assets | Active Market | ||||||||||||||||||||
With Identical | |||||||||||||||||||||
Characteristics | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Impaired loans (3) | $ | — | $ | 36,254 | $ | 1,738 | $ | 2,431 | |||||||||||||
Other real estate owned (4) | — | 756 | — | 10 | |||||||||||||||||
(1) | Include real estate loans of $33.6 million, commercial and industrial loans of $1.2 million, and consumer loans of $1.8 million. | ||||||||||||||||||||
(2) | Includes properties from the foreclosure of real estate loans of $24.8 million of which $22.3 million was acquired from CBI. | ||||||||||||||||||||
(3) | Include real estate loans of $32.2 million, commercial and industrial loans of $2.8 million, and consumer loans of $1.3 million. | ||||||||||||||||||||
(4) | Includes properties from the foreclosure of real estate loans of $756,000. | ||||||||||||||||||||
FASB ASC 825 requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring basis or non-recurring basis are discussed above. | |||||||||||||||||||||
The estimated fair value of financial instruments has been determined by using available market information and appropriate valuation methodologies. However, considerable judgment is required to interpret market data in order to develop estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that we could realize in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. | |||||||||||||||||||||
The estimated fair values of financial instruments were as follows: | |||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||
Carrying | Fair Value | ||||||||||||||||||||
Amount | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 197,016 | $ | 197,016 | $ | — | $ | — | |||||||||||||
Securities available for sale | 1,128,624 | 172,956 | 954,500 | 1,168 | |||||||||||||||||
Loans receivable, net of allowance for loan losses | 2,628,091 | — | — | 2,686,838 | |||||||||||||||||
Loans held for sale | 7,757 | — | 7,757 | — | |||||||||||||||||
Accrued interest receivable | 9,880 | 9,880 | — | — | |||||||||||||||||
Servicing assets | 7,844 | — | — | 7,844 | |||||||||||||||||
Investment in federal home loan bank stock | 17,579 | 17,579 | — | — | |||||||||||||||||
Investment in federal reserve bank stock | 12,273 | 12,273 | — | — | |||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Noninterest-bearing deposits | 1,029,343 | — | 1,029,343 | — | |||||||||||||||||
Interest-bearing deposits | 2,568,811 | — | — | 2,565,504 | |||||||||||||||||
Borrowings | 128,509 | — | — | 128,509 | |||||||||||||||||
Accrued interest payable | 3,030 | 3,030 | — | — | |||||||||||||||||
Off-balance sheet items: | |||||||||||||||||||||
Commitments to extend credit | 327,381 | — | — | 327,381 | |||||||||||||||||
Standby letters of credit | 9,140 | — | — | 9,140 | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Carrying | Fair Value | ||||||||||||||||||||
Amount | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 179,357 | $ | 179,357 | $ | — | $ | — | |||||||||||||
Securities available for sale | 530,926 | 103,533 | 426,645 | 748 | |||||||||||||||||
Loans receivable, net of allowance for loan losses | 2,177,498 | — | — | 2,204,069 | |||||||||||||||||
Loans held for sale | — | — | — | — | |||||||||||||||||
Accrued interest receivable | 7,055 | 7,055 | — | — | |||||||||||||||||
Servicing assets | 6,833 | — | — | 6,833 | |||||||||||||||||
Investment in federal home loan bank stock | 14,060 | 14,060 | — | — | |||||||||||||||||
Investment in federal reserve bank stock | 11,196 | 11,196 | — | — | |||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Noninterest-bearing deposits | 819,015 | — | 819,015 | — | |||||||||||||||||
Interest-bearing deposits | 1,693,310 | — | — | 1,693,739 | |||||||||||||||||
Borrowings | 127,546 | — | — | 247,249 | |||||||||||||||||
Accrued interest payable | 3,366 | 3,366 | — | — | |||||||||||||||||
Off-balance sheet items: | |||||||||||||||||||||
Commitments to extend credit | 246,161 | — | — | 246,161 | |||||||||||||||||
Standby letters of credit | 8,926 | — | — | 8,926 | |||||||||||||||||
The methods and assumptions used to estimate the fair value of each class of financial instruments for which it was practicable to estimate that value are explained below: | |||||||||||||||||||||
Cash and cash equivalents – The carrying amounts of cash and cash equivalents approximate fair value due to the short-term nature of these instruments (Level 1). | |||||||||||||||||||||
Investment securities – The fair value of investment securities, consisting of investment securities available for sale, is generally obtained from market bids for similar or identical securities, from independent securities brokers or dealers, or from other model-based valuation techniques described above (Level 1, 2 and 3). | |||||||||||||||||||||
Loans receivable, net of allowance for loan losses – Loans receivable include Non-PCI loans, PCI loans and Non-PCI impaired loans. The fair value of Non-PCI loans receivable is estimated based on the discounted cash flow approach. The discount rate was derived from the associated yield curve plus spreads and reflects the offering rates offered by the Bank for loans with similar financial characteristics. Yield curves are constructed by product type using the Bank’s loan pricing model for like-quality credits. The discount rates used in the Bank’s model represent the rates the Bank would offer to current borrowers for like-quality credits. These rates could be different from what other financial institutions could offer for these loans. No adjustments have been made for changes in credit within the loan portfolio. It is our opinion that the allowance for loan losses relating to performing and nonperforming loans results in a fair valuation of such loans. Additionally, the fair value of our loans may differ significantly from the values that would have been used had a ready market existed for such loans and may differ materially from the values that we may ultimately realize (Level 3). | |||||||||||||||||||||
The fair value of PCI loans receivable is estimated based on discounted expected cash flows. Increases in expected cash flows and improvements in the timing of cash flows over those previously estimated increase the amount of accretable yield and are recognized as an increase in yield and interest income prospectively. Decreases in the amount and delays in the timing of expected cash flows compared to those previously estimated decrease the amount of accretable yield and usually result in a provision for loan losses and the establishment of an allowance for loan losses (Level 3). | |||||||||||||||||||||
The fair value of impaired loans, excluding PCI loans, is estimated based on the net realizable fair value of the collateral or the observable market price of the most recent sale or quoted price from loans held for sale. The Company does not record loans at fair value on a recurring basis. Nonrecurring fair value adjustments to collateral dependent impaired loans are recorded based on the current appraised value of the collateral (Level 3). | |||||||||||||||||||||
Loans held for sale – Loans held for sale are carried at the lower of aggregate cost or fair market value, as determined based upon quotes, bids or sales contract prices, or as may be assessed based upon the fair value of the collateral which is obtained from recent real estate appraisals (Level 2). Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustment is typically significant and results in Level 3 classification of the inputs for determining fair value. | |||||||||||||||||||||
Accrued interest receivable – The carrying amount of accrued interest receivable approximates its fair value (Level 1). | |||||||||||||||||||||
Servicing assets – Servicing asset is carried at its implied fair value. The fair value of the servicing asset is estimated by discounting future cash flows using market-based discount rates and prepayments speeds. The discount rate is based on the current U.S. Treasury yield curve, as published by the Department of the Treasury, plus a spread for the marketplace risk associated with these assets. (Level 3) | |||||||||||||||||||||
Investment in Federal Home Loan Bank and Federal Reserve Bank stock – The carrying amounts of investment in FHLB and FRB stock approximate fair value as such stock may be resold to the issuer at carrying value (Level 1). | |||||||||||||||||||||
Noninterest-bearing deposits – The fair value of noninterest-bearing deposits is the amount payable on demand at the reporting date (Level 2). | |||||||||||||||||||||
Interest-bearing deposits – The fair value of interest-bearing deposits, such as savings accounts, money market checking, and certificates of deposit, is estimated based on discounted cash flows. The cash flows for non-maturity deposits, including savings accounts and money market checking, are estimated based on their historical decaying experiences. The discount rate used for fair valuation is based on interest rates currently being offered by the Bank on comparable deposits as to amount and term (Level 3). | |||||||||||||||||||||
Borrowings – Borrowings consist of FHLB advances, subordinated debentures and other borrowings. Discounted cash flows based on current market rates for borrowings with similar remaining maturities are used to estimate the fair value of borrowings (Level 3). | |||||||||||||||||||||
Accrued interest payable – The carrying amount of accrued interest payable approximates its fair value (Level 1). | |||||||||||||||||||||
Stock warrants – The fair value of stock warrants is determined by the Black-Scholes option pricing model. The expected stock volatility is based on historical volatility of our common stock over expected term of the warrants. The expected life assumption is based on the contract term and dividend yield is based on the Company’s annual dividend divided by its current share price. The risk free rate used for the warrants is equal to the zero coupon rate in effect at the end of the measurement period (Level 3). | |||||||||||||||||||||
Commitments to extend credit and standby letters of credit – The fair values of commitments to extend credit and standby letters of credit are based upon the difference between the current value of similar loans and the price at which the Bank has committed to make the loans (Level 3). |
ShareBased_Compensation
Share-Based Compensation | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Share-Based Compensation | ' | ||||||||||||||||
Note 13 — Share-Based Compensation | |||||||||||||||||
Share-Based Compensation Expense | |||||||||||||||||
For the three months ended September 30, 2014 and 2013, share-based compensation expense was $695,000 and $197,000, respectively, and the related tax benefits on non-qualified stock options were $317,000 and $0, respectively. For the nine months ended September 30, 2014 and 2013, share-based compensation expense was $1.7 million and $387,000, respectively, and the related tax benefits on non-qualified stock options were $500,000 and $32,000, respectively. | |||||||||||||||||
Unrecognized Share-Based Compensation Expense | |||||||||||||||||
As of September 30, 2014, unrecognized share-based compensation expense was as follows: | |||||||||||||||||
Unrecognized | Average Expected | ||||||||||||||||
Expense | Recognition | ||||||||||||||||
Period | |||||||||||||||||
(In thousands) | |||||||||||||||||
Stock option awards | $ | 1,490 | 2.2 years | ||||||||||||||
Restricted stock awards | 2,822 | 2.6 years | |||||||||||||||
Total unrecognized share-based compensation expense | $ | 4,312 | 2.4 years | ||||||||||||||
The table below provides stock option information for the three months ended September 30, 2014: | |||||||||||||||||
Number of | Weighted- | Weighted- | Aggregate | ||||||||||||||
Shares | Average | Average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value of | |||||||||||||||
Price Per | Contractual | In-the- | |||||||||||||||
Share | Life | Money | |||||||||||||||
Options | |||||||||||||||||
(In thousands, except share and per share data) | |||||||||||||||||
Options outstanding at beginning of period | 581,913 | $ | 24.32 | 8.6 years | $ | 2,168 | (1) | ||||||||||
Options granted | 28,000 | $ | 20.57 | 10.0 years | |||||||||||||
Options exercised | (687 | ) | $ | 12.54 | 8.2 years | ||||||||||||
Options forfeited | (1,876 | ) | $ | 12.54 | 8.2 years | ||||||||||||
Options expired | (2,875 | ) | $ | 109.71 | 3.3 years | ||||||||||||
Options outstanding at end of period | 604,475 | $ | 23.79 | 8.5 years | $ | 2,188 | (2) | ||||||||||
Options exercisable at end of period | 194,757 | $ | 37.21 | 7.2 years | $ | 871 | (2) | ||||||||||
(1) | Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was $21.08 as of June 30, 2014, over the exercise price, multiplied by the number of options. | ||||||||||||||||
(2) | Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was $20.16 as of September 30, 2014, over the exercise price, multiplied by the number of options. | ||||||||||||||||
The table below provides stock option information for the nine months ended September 30, 2014: | |||||||||||||||||
Number of | Weighted- | Weighted | Aggregate | ||||||||||||||
Shares | Average | Average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value of | |||||||||||||||
Price Per | Contractual | In-the- | |||||||||||||||
Share | Life | Money | |||||||||||||||
Options | |||||||||||||||||
(In thousands, except share and per share data) | |||||||||||||||||
Options outstanding at beginning of period | 546,595 | $ | 28.09 | 8.4 years | $ | 3,384 | (1) | ||||||||||
Options granted | 133,000 | $ | 21.6 | 9.7 years | |||||||||||||
Options exercised | (34,382 | ) | $ | 12.54 | 7.9 years | ||||||||||||
Options forfeited | (9,751 | ) | $ | 12.54 | 8.2 years | ||||||||||||
Options expired | (30,987 | ) | $ | 106.26 | .5 years | ||||||||||||
Options outstanding at end of period | 604,475 | $ | 23.79 | 8.5 years | $ | 2,188 | (2) | ||||||||||
Options exercisable at end of period | 194,757 | $ | 37.21 | 7.2 years | $ | 871 | (2) | ||||||||||
(1) | Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was $21.89 as of December 31, 2013, over the exercise price, multiplied by the number of options. | ||||||||||||||||
(2) | Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was $20.16 as of September 30, 2014, over the exercise price, multiplied by the number of options. | ||||||||||||||||
There were 687 and 34,382 stock options exercised during the three and nine months ended September 30, 2014, compared to 38,437 and 40,678 stock options exercised during the same periods in 2013. | |||||||||||||||||
Restricted Stock Awards | |||||||||||||||||
Restricted stock awards granted under the 2013 Equity Compensation Plan, which replaced the 2007 Equity Compensation Plan, generally become fully vested after three to five years of continued employment from the date of grant. Hanmi Financial becomes entitled to an income tax deduction in an amount equal to the taxable income reported by the holders of the restricted stock awards when the restrictions are released and the shares are issued. Restricted stock awards are forfeited if officers and employees terminate prior to the lapsing of restrictions. Forfeitures of restricted stock awards are treated as cancelled shares. | |||||||||||||||||
The table below provides information for restricted stock awards for the three and nine months ended September 30, 2014: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
Number of | Weighted- | Number of | Weighted- | ||||||||||||||
Shares | Average | Shares | Average | ||||||||||||||
Grant Date | Grant Date | ||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||
Per Share | Per Share | ||||||||||||||||
Restricted stock at beginning of period | 166,332 | $ | 18.46 | 116,082 | $ | 16.43 | |||||||||||
Restricted stock granted | 32,720 | $ | 20.86 | 99,068 | $ | 21.93 | |||||||||||
Restricted stock vested | (36,331 | ) | $ | 16.46 | (51,429 | ) | $ | 17.53 | |||||||||
Restricted stock forfeited | — | $ | — | (1,000 | ) | $ | 22.25 | ||||||||||
Restricted stock at end of period | 162,721 | $ | 19.39 | 162,721 | $ | 19.39 | |||||||||||
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||||||||||
Earnings Per Share | ' | ||||||||||||||||||||||||
Note 14 — Earnings Per Share | |||||||||||||||||||||||||
Earnings per share (“EPS”) is calculated on both a basic and a diluted basis. Basic EPS excludes dilution and is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if stock options or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would then share in earnings, excluding common shares in treasury. Unvested restricted stock is excluded from the calculation of weighted-average common shares for basic EPS. For diluted EPS, weighted-average common shares include the impact of restricted stock under the treasury method. | |||||||||||||||||||||||||
The following table is a reconciliation of the components used to derive basic and diluted EPS for the periods indicated: | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
(Numerator) | (Denominator) | (Numerator) | (Denominator) | ||||||||||||||||||||||
Net | Weighted- | Per | Net | Weighted- | Per | ||||||||||||||||||||
Income | Average | Share | Income | Average | Share | ||||||||||||||||||||
Shares | Amount | Shares | Amount | ||||||||||||||||||||||
(In thousands, except share and per share data) | |||||||||||||||||||||||||
Three months ended September 30: | |||||||||||||||||||||||||
Basic EPS | |||||||||||||||||||||||||
Income from continuing operations, net of taxes | $ | 13,264 | 31,708,581 | $ | 0.42 | $ | 10,315 | 31,621,049 | $ | 0.33 | |||||||||||||||
Income from discontinued operations, net of taxes | — | 31,708,581 | — | 70 | 31,621,049 | — | |||||||||||||||||||
Basic EPS | $ | 13,264 | 31,708,581 | $ | 0.42 | $ | 10,385 | 31,621,049 | $ | 0.33 | |||||||||||||||
Effect of dilutive securities - options, warrants and unvested restricted stock | — | 292,838 | — | — | 111,955 | — | |||||||||||||||||||
Diluted EPS | |||||||||||||||||||||||||
Income from continuing operations, net of taxes | $ | 13,264 | 32,001,419 | $ | 0.41 | $ | 10,315 | 31,733,004 | $ | 0.33 | |||||||||||||||
Income from discontinued operations, net of taxes | — | 32,001,419 | — | 70 | 31,733,004 | — | |||||||||||||||||||
Diluted EPS | $ | 13,264 | 32,001,419 | $ | 0.41 | $ | 10,385 | 31,733,004 | $ | 0.33 | |||||||||||||||
Nine months ended September 30: | |||||||||||||||||||||||||
Basic EPS | |||||||||||||||||||||||||
Income from continuing operations, net of taxes | $ | 35,764 | 31,683,288 | $ | 1.13 | $ | 29,769 | 31,583,897 | $ | 0.94 | |||||||||||||||
(Loss) income from discontinued operations, net of taxes | (444 | ) | 31,683,288 | (0.02 | ) | 161 | 31,583,897 | 0.01 | |||||||||||||||||
Basic EPS | $ | 35,320 | 31,683,288 | $ | 1.11 | $ | 29,930 | 31,583,897 | $ | 0.95 | |||||||||||||||
Effect of dilutive securities - options, warrants and unvested restricted stock | — | 284,588 | — | — | 68,898 | — | |||||||||||||||||||
Diluted EPS | |||||||||||||||||||||||||
Income from continuing operations, net of taxes | $ | 35,764 | 31,967,876 | $ | 1.12 | $ | 29,769 | 31,652,795 | $ | 0.94 | |||||||||||||||
(Loss) income from discontinued operations, net of taxes | (444 | ) | 31,967,876 | (0.02 | ) | 161 | 31,652,795 | 0.01 | |||||||||||||||||
Diluted EPS | $ | 35,320 | 31,967,876 | $ | 1.1 | $ | 29,930 | 31,652,795 | $ | 0.95 | |||||||||||||||
For the three months ended September 30, 2014 and 2013, stock options totaling 136,850 and 74,275, respectively, were not included in the computation of diluted EPS because their effect would be anti-dilutive. For the nine months ended September 30, 2014 and 2013, stock options totaling 86,850 and 74,275, respectively, were not included in the computation of diluted EPS because their effect would be anti-dilutive. |
OffBalance_Sheet_Commitments
Off-Balance Sheet Commitments | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Risks and Uncertainties [Abstract] | ' | ||||||||
Off-Balance Sheet Commitments | ' | ||||||||
Note 15 — Off-Balance Sheet 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 our customers. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit and interest rate risk similar to the risk involved with on-balance sheet items recognized in the Consolidated Balance Sheets. | |||||||||
The Bank’s exposure to credit losses in the event of non-performance by the other party to commitments to extend credit and standby letters of credit is represented by the contractual notional amount of those instruments. The Bank uses the same credit policies in making commitments and conditional obligations as it does for extending loan facilities to customers. The Bank evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Bank upon extension of credit, was based on management’s credit evaluation of the counterparty. | |||||||||
Collateral held varies but may include accounts receivable, inventory, premises and equipment, and income-producing or borrower-occupied properties. The following table shows the distribution of undisbursed loan commitments as of the dates indicated: | |||||||||
September 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Commitments to extend credit | $ | 327,381 | $ | 246,161 | |||||
Standby letters of credit | 9,140 | 8,926 | |||||||
Commercial letters of credit | 3,877 | 4,179 | |||||||
Unused credit card lines | — | 12,223 | |||||||
Total undisbursed loan commitments | $ | 340,398 | $ | 271,489 | |||||
Liquidity
Liquidity | 9 Months Ended |
Sep. 30, 2014 | |
Text Block [Abstract] | ' |
Liquidity | ' |
Note 16 — Liquidity | |
Hanmi Financial | |
Management believes that Hanmi Financial, on a stand-alone basis, has adequate liquid assets to meet its operating cash needs through September 30, 2015. | |
Hanmi Bank | |
The principal objective of our liquidity management program is to maintain the Bank’s ability to meet the day-to-day cash flow requirements of our customers who either wish to withdraw funds or to draw upon credit facilities to meet their cash needs. Management believes that the Bank, on a stand-alone basis, has adequate liquid assets to meet its current obligations. The Bank’s primary funding source will continue to be deposits originating from its branch platform. The Bank’s wholesale funds historically consisted of FHLB advances and brokered deposits. As of September 30, 2014, the Bank had $99,000 brokered deposits assumed from the CBI acquisition. | |
We monitor the sources and uses of funds on a regular basis to maintain an acceptable liquidity position. The Bank’s primary source of borrowings is the FHLB, from which the Bank is eligible to borrow up to 30 percent of its assets. As of September 30, 2014, the total borrowing capacity available based on pledged collateral and the remaining available borrowing capacity were $669.2 million and $559.2 million, respectively, compared to $343.3 million and $215.8 million, respectively, as of December 31, 2013. The Bank’s FHLB borrowings as of September 30, 2014 and December 31, 2013 totaled $110.0 million and $127.5 million, respectively, which represented 2.60 percent and 4.17 percent of assets as of September 30, 2014 and December 31, 2013, respectively. | |
The amount that the FHLB is willing to advance differs based on the quality and character of qualifying collateral pledged by the Bank, and the advance rates for qualifying collateral may be adjusted upwards or downwards by the FHLB from time to time. To the extent deposit renewals and deposit growth are not sufficient to fund maturing and withdrawable deposits, repay maturing borrowings, fund existing and future loans and investment securities and otherwise fund working capital needs and capital expenditures, the Bank may utilize the remaining borrowing capacity from its FHLB borrowing arrangement. | |
As a means of augmenting its liquidity, the Bank had an available borrowing source of $65.1 million from the Federal Reserve Discount Window, to which the Bank pledged loans with a carrying value of $89.4 million, and had no borrowings as of September 30, 2014. In December 2012, the Bank established a line of credit with Raymond James & Associates, Inc. for repurchase agreements up to $100.0 million. The Bank established unsecured federal funds lines of credit totaling $95.0 million from three financial institutions in June 2014 primarily to support short-term liquidity. | |
The Bank has Contingency Funding Plans (“CFPs”) designed to ensure that liquidity sources are sufficient to meet its ongoing obligations and commitments, particularly in the event of a liquidity contraction. The CFPs are designed to examine and quantify its liquidity under various “stress” scenarios. Furthermore, the CFPs provide a framework for management and other critical personnel to follow in the event of a liquidity contraction or in anticipation of such an event. The CFPs address authority for activation and decision making, liquidity options and the responsibilities of key departments in the event of a liquidity contraction. |
Segment_Reporting
Segment Reporting | 9 Months Ended |
Sep. 30, 2014 | |
Segment Reporting [Abstract] | ' |
Segment Reporting | ' |
Note 17 — Segment Reporting | |
Through our branch network and lending units, we provide a broad range of financial services to individuals and companies. These services include demand, time and savings deposits; and commercial and industrial, real estate and consumer lending. While our chief decision makers monitor the revenue streams of our various products and services, operations are managed and financial performance is evaluated on a company-wide basis. Accordingly, we consider all of our operations to be aggregated in one reportable operating segment. |
Subsequent_Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Note 18 — Subsequent Events | |
Management has evaluated subsequent events through the date of issuance of the financial data included herein. There have been no subsequent events that occurred during such period that would require disclosure in this Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2014, or would be required to be recognized in the Consolidated Financial Statements (Unaudited) as of September 30, 2014. |
Fair_Value_Measurements_Polici
Fair Value Measurements (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Fair Value Disclosures [Abstract] | ' |
Fair Value Measurements | ' |
The estimated fair value of financial instruments has been determined by using available market information and appropriate valuation methodologies. However, considerable judgment is required to interpret market data in order to develop estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that we could realize in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. |
Acquisition_Tables
Acquisition (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||
Summary Of Consideration Paid, Provisional Estimate Of Fair Value Of Assets Acquired and Liabilities Assumed | ' | ||||||||||||||||
In connection with the acquisition, the consideration paid, the provisional estimate of the fair value of the assets acquired and the liabilities assumed as of August 31, 2014 are summarized in the following table: | |||||||||||||||||
(In thousands) | |||||||||||||||||
Consideration paid: | |||||||||||||||||
CBI Stockholders | $ | 50,000 | |||||||||||||||
Redemption of preferred stock and cumulative unpaid dividends | 28,675 | ||||||||||||||||
Accrued interest on subordinated debentures | 1,566 | ||||||||||||||||
80,241 | |||||||||||||||||
Assets acquired: | |||||||||||||||||
Cash and cash equivalents | 197,209 | ||||||||||||||||
Securities available for sale | 663,497 | ||||||||||||||||
Loans | 294,032 | ||||||||||||||||
Premises and equipment | 17,735 | ||||||||||||||||
Other real estate owned | 28,027 | ||||||||||||||||
Income tax assets, net | 8,800 | ||||||||||||||||
Core deposit intangible | 2,213 | ||||||||||||||||
FDIC loss sharing assets | 9,692 | ||||||||||||||||
Bank-owned life insurance | 18,296 | ||||||||||||||||
Other assets | 16,428 | ||||||||||||||||
Total assets acquired | 1,255,929 | ||||||||||||||||
Liabilities assumed: | |||||||||||||||||
Deposits | 1,098,997 | ||||||||||||||||
Subordinated debentures | 18,473 | ||||||||||||||||
Rescinded stock obligation | 15,720 | ||||||||||||||||
FHLB advances | 10,000 | ||||||||||||||||
Other liabilities | 25,905 | ||||||||||||||||
Total liabilities assumed | 1,169,095 | ||||||||||||||||
Total identifiable net assets | $ | 86,834 | |||||||||||||||
Bargain purchase gain, net of deferred taxes | $ | 6,593 | |||||||||||||||
Summary Of Accretable Yield On Purchased Credit Impaired Loans Acquired | ' | ||||||||||||||||
The following table summarizes the accretable yield on the purchased credit impaired loans acquired from the CBI merger at August 31, 2014. | |||||||||||||||||
(In thousands) | |||||||||||||||||
Undiscounted contractual cash flows | $ | 117,301 | |||||||||||||||
Nonaccretable discount | (18,565 | ) | |||||||||||||||
Undiscounted cash flow to be collected | 98,736 | ||||||||||||||||
Estimated fair value of PCI loans | 75,878 | ||||||||||||||||
Accretable yield | $ | 22,858 | |||||||||||||||
Business Acquisition, Unaudited Proforma Result of Operation Information | ' | ||||||||||||||||
The following table presents our unaudited pro forma results of operations for the periods presented as if the CBI acquisition had been completed on January 1, 2013. The unaudited pro forma results of operations include the historical accounts of Hanmi Financial and CBI and pro forma adjustments as may be required, including the amortization of intangibles with definite lives and the amortization or accretion of any premiums or discounts arising from fair value adjustments for assets acquired and liabilities assumed. The unaudited pro forma information is intended for informational purposes only and is not necessarily indicative of our future operating results or operating results that would have occurred had the CBI acquisition been completed at the beginning of 2013. No assumptions have been applied to the pro forma results of operations regarding possible revenue enhancements, expense efficiencies or asset dispositions. | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(In thousands, except per share data) | |||||||||||||||||
Pro forma revenues (net interest income plus noninterest income) | $ | 62,427 | $ | 55,727 | $ | 170,923 | $ | 182,135 | |||||||||
Pro forma net income from continuing operations | $ | 18,359 | $ | 12,826 | $ | 43,546 | $ | 47,201 | |||||||||
Pro forma earnings per share from continuing operations: | |||||||||||||||||
Basic | $ | 0.58 | $ | 0.41 | $ | 1.37 | $ | 1.49 | |||||||||
Diluted | $ | 0.57 | $ | 0.4 | $ | 1.36 | $ | 1.49 |
Accounting_for_Investments_in_1
Accounting for Investments in Qualified Affordable Housing Projects (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Accounting Changes and Error Corrections [Abstract] | ' | ||||||||||||
Summary of Change in Accounting Principle on Balance Sheets | ' | ||||||||||||
Hanmi Financial Corporations and Subsidiaries | |||||||||||||
Consolidated Balance Sheet (Unaudited) | |||||||||||||
As of December 31, 2013 | |||||||||||||
As Previously | Effect of Change in | As | |||||||||||
Reported | Accounting Principle | Adjusted | |||||||||||
(In thousands) | |||||||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 179,357 | $ | — | $ | 179,357 | |||||||
Securities available for sale | 530,926 | — | 530,926 | ||||||||||
Loans receivable | 2,177,498 | — | 2,177,498 | ||||||||||
Income tax assets | 63,536 | 305 | 63,841 | ||||||||||
Other assets | 104,222 | (1,465 | ) | 102,757 | |||||||||
Total assets | $ | 3,055,539 | $ | (1,160 | ) | $ | 3,054,379 | ||||||
Liabilities and stockholders’ equity | |||||||||||||
Liabilities | $ | 2,654,302 | $ | — | $ | 2,654,302 | |||||||
Stockholders’ equity | 401,237 | (1,160 | ) | 400,077 | |||||||||
Total liabilities and stockholders’ equity | $ | 3,055,539 | $ | (1,160 | ) | $ | 3,054,379 | ||||||
Summary of Change in Accounting Principle on Statements of Income | ' | ||||||||||||
Hanmi Financial Corporations and Subsidiaries | |||||||||||||
Consolidated Statements of Income (Unaudited) | |||||||||||||
For the Three Months Ended September 30, 2013 | |||||||||||||
As Previously | Effect of Change in | As | |||||||||||
Reported | Accounting Principle | Adjusted | |||||||||||
(In thousands, except per share data) | |||||||||||||
Interest and dividend income | $ | 31,627 | $ | — | $ | 31,627 | |||||||
Interest expense | 3,153 | — | 3,153 | ||||||||||
Net interest income | $ | 28,474 | $ | — | $ | 28,474 | |||||||
Noninterest income | 6,059 | — | 6,059 | ||||||||||
Noninterest expense | 17,811 | (175 | ) | 17,636 | |||||||||
Income before provision for income taxes | $ | 16,722 | $ | 175 | $ | 16,897 | |||||||
Provision for income taxes | 6,542 | 40 | 6,582 | ||||||||||
Income from continuing operations | $ | 10,180 | $ | 135 | $ | 10,315 | |||||||
Earnings per share from continuing operations | |||||||||||||
Basic | $ | 0.32 | $ | 0.01 | $ | 0.33 | |||||||
Diluted | $ | 0.32 | $ | 0.01 | $ | 0.33 | |||||||
For the Nine Months Ended September 30, 2013 | |||||||||||||
As Previously | Effect of Change in | As | |||||||||||
Reported | Accounting Principle | Adjusted | |||||||||||
(In thousands, except per share data) | |||||||||||||
Interest and dividend income | $ | 91,401 | $ | — | $ | 91,401 | |||||||
Interest expense | 10,169 | — | 10,169 | ||||||||||
Net interest income | $ | 81,232 | $ | — | $ | 81,232 | |||||||
Noninterest income | 19,945 | — | 19,945 | ||||||||||
Noninterest expense | 54,451 | (553 | ) | 53,898 | |||||||||
Income before provision for income taxes | $ | 46,726 | $ | 553 | $ | 47,279 | |||||||
Provision for income taxes | 17,008 | 502 | 17,510 | ||||||||||
Income from continuing operations | $ | 29,718 | $ | 51 | $ | 29,769 | |||||||
Earnings per share from continuing operations | |||||||||||||
Basic | $ | 0.94 | $ | — | $ | 0.94 | |||||||
Diluted | $ | 0.94 | $ | — | $ | 0.94 | |||||||
Summary of Change in Accounting Principle on Statements of Cash Flows | ' | ||||||||||||
Hanmi Financial Corporations and Subsidiaries | |||||||||||||
Consolidated Statement of Cash Flows (Unaudited) | |||||||||||||
For the Nine Months Ended September 30, 2013 | |||||||||||||
As Previously | Effect of Change in | As | |||||||||||
Reported | Accounting Principle | Adjusted | |||||||||||
(In thousands) | |||||||||||||
Cash flows from operating activities: | |||||||||||||
Net income | $ | 29,879 | $ | 51 | $ | 29,930 | |||||||
Total adjustment in net income | 18,098 | (51 | ) | 18,047 | |||||||||
Net cash provided by operating activities | $ | 47,977 | $ | — | $ | 47,977 | |||||||
Cash flows from investing activities: | |||||||||||||
Net cash used in investing activities | (71,768 | ) | — | (71,768 | ) | ||||||||
Cash flows from financing activities: | |||||||||||||
Net cash used in financing activities | (50,402 | ) | — | (50,402 | ) | ||||||||
Net decrease in cash and cash equivalents | $ | (74,193 | ) | $ | — | $ | (74,193 | ) | |||||
Cash and cash equivalents at beginning of period | 268,047 | — | 268,047 | ||||||||||
Cash and cash equivalents at end of period | $ | 193,854 | $ | — | $ | 193,854 | |||||||
Sale_of_Insurance_Subsidiaries1
Sale of Insurance Subsidiaries and Discontinued Operations (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | ||||||||||||
Summarized Financial Information of Discontinued Operations | ' | ||||||||||||
Summarized financial information for our discontinued operations related to Chun-Ha and All World are as follows: | |||||||||||||
June 30, | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
(In thousands) | |||||||||||||
Cash and cash equivalents | $ | 1,602 | $ | 1,396 | |||||||||
Premises and equipment, net | 90 | 79 | |||||||||||
Other intangible assets, net | 1,089 | 1,171 | |||||||||||
Other assets | 2,855 | 3,298 | |||||||||||
Total assets | $ | 5,636 | $ | 5,944 | |||||||||
Income tax payable | $ | 415 | $ | 1,304 | |||||||||
Accrued expenses and other liabilities | 1,878 | 2,171 | |||||||||||
Total liabilities | $ | 2,293 | $ | 3,475 | |||||||||
Net assets of discontinued operations | $ | 3,343 | $ | 2,469 | |||||||||
Three Months | Nine Months Ended September 30, | ||||||||||||
Ended | |||||||||||||
September 30, | |||||||||||||
2013 | 2014 | 2013 | |||||||||||
(In thousands) | |||||||||||||
Noninterest income (loss) | $ | 112 | $ | (14 | ) | $ | 242 | ||||||
Gain on disposal | — | 51 | — | ||||||||||
Income before taxes | $ | 112 | $ | 37 | $ | 242 | |||||||
Provision for income taxes | 42 | 481 | 81 | ||||||||||
Net income (loss) from discontinued operations | $ | 70 | $ | (444 | ) | $ | 161 | ||||||
Investment_Securities_Tables
Investment Securities (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||
Realized Gains and Losses on Sales of Investment Securities | ' | ||||||||||||||||
Realized gains and losses on sales of investment securities, proceeds from sales of investment securities and tax expense on sales of investment securities were as follows for the periods indicated: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(In thousands) | |||||||||||||||||
Gross realized gains on sales of investment securities | $ | 67 | $ | 619 | $ | 1,853 | $ | 932 | |||||||||
Gross realized losses on sales of investment securities | — | (8 | ) | (1 | ) | (9 | ) | ||||||||||
Net realized gains on sales of investment securities | $ | 67 | $ | 611 | $ | 1,852 | $ | 923 | |||||||||
Proceeds from sales of investment securities | $ | 9,778 | $ | 26,661 | $ | 140,855 | $ | 51,425 |
Loans_Tables
Loans (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Loans Receivable | ' | ||||||||||||||||||||||||||||||||||||||||
Loans receivable consisted of the following as of the dates indicated: | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | December 31, | ||||||||||||||||||||||||||||||||||||||||
Non-PCI Loans | PCI Loans | Total | 2013 | ||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property (1) | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 635,861 | $ | 15,940 | $ | 651,801 | $ | 543,619 | |||||||||||||||||||||||||||||||||
Hotel/Motel | 452,405 | 14,206 | 466,611 | 322,927 | |||||||||||||||||||||||||||||||||||||
Gas station | 340,386 | 18,069 | 358,455 | 292,557 | |||||||||||||||||||||||||||||||||||||
Other | 805,696 | 15,715 | 821,411 | 731,617 | |||||||||||||||||||||||||||||||||||||
Construction | 4,146 | — | 4,146 | — | |||||||||||||||||||||||||||||||||||||
Residential property | 106,044 | 2,686 | 108,730 | 79,078 | |||||||||||||||||||||||||||||||||||||
Total real estate loans | 2,344,538 | 66,616 | 2,411,154 | 1,969,798 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 119,175 | 350 | 119,525 | 124,391 | |||||||||||||||||||||||||||||||||||||
Commercial lines of credit | 75,246 | — | 75,246 | 71,042 | |||||||||||||||||||||||||||||||||||||
International loans | 41,127 | — | 41,127 | 36,353 | |||||||||||||||||||||||||||||||||||||
Total commercial and industrial loans | 235,548 | 350 | 235,898 | 231,786 | |||||||||||||||||||||||||||||||||||||
Consumer loans | 28,849 | 58 | 28,907 | 32,505 | |||||||||||||||||||||||||||||||||||||
Total gross loans | 2,608,935 | 67,024 | 2,675,959 | 2,234,089 | |||||||||||||||||||||||||||||||||||||
Allowance for loans losses | (51,179 | ) | — | (51,179 | ) | (57,555 | ) | ||||||||||||||||||||||||||||||||||
Deferred loan costs | 3,311 | — | 3,311 | 964 | |||||||||||||||||||||||||||||||||||||
Loans receivable, net | $ | 2,561,067 | $ | 67,024 | $ | 2,628,091 | $ | 2,177,498 | |||||||||||||||||||||||||||||||||
-1 | Includes owner-occupied property loans of $1.10 billion and $957.3 million as of September 30, 2014 and December 31, 2013, respectively. | ||||||||||||||||||||||||||||||||||||||||
Loans Receivable to Loans Held for Sale | ' | ||||||||||||||||||||||||||||||||||||||||
The following table details the information on the sales and reclassifications of loans receivable to loans held for sale (excluding PCI loans) by portfolio segment for the three months ended September 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||||||
Real Estate | Commercial | Consumer | Total | ||||||||||||||||||||||||||||||||||||||
and Industrial | Non-PCI | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 2,568 | $ | 1,274 | $ | — | $ | 3,842 | |||||||||||||||||||||||||||||||||
Origination of loans held for sale | 15,198 | 3,031 | — | 18,229 | |||||||||||||||||||||||||||||||||||||
Sales of loans held for sale | (12,135 | ) | (2,133 | ) | — | (14,268 | ) | ||||||||||||||||||||||||||||||||||
Principal payoffs and amortization | (20 | ) | (26 | ) | — | (46 | ) | ||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 5,611 | $ | 2,146 | $ | — | $ | 7,757 | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 2,137 | $ | 416 | $ | — | $ | 2,553 | |||||||||||||||||||||||||||||||||
Origination of loans held for sale | 15,634 | 1,501 | — | 17,135 | |||||||||||||||||||||||||||||||||||||
Reclassification from loans held for sale to loans receivable | (2,118 | ) | (416 | ) | — | (2,534 | ) | ||||||||||||||||||||||||||||||||||
Sales of loans held for sale | (10,725 | ) | (1,181 | ) | — | (11,906 | ) | ||||||||||||||||||||||||||||||||||
Principal payoffs and amortization | (20 | ) | — | — | (20 | ) | |||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 4,908 | $ | 320 | $ | — | $ | 5,228 | |||||||||||||||||||||||||||||||||
The following table details the information on the sales and reclassifications of loans receivable to loans held for sale (excluding PCI loans) by portfolio segment for the nine months ended September 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||||||
Real Estate | Commercial | Consumer | Total | ||||||||||||||||||||||||||||||||||||||
and Industrial | Non-PCI | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||
Origination of loans held for sale | 29,591 | 5,207 | — | 34,798 | |||||||||||||||||||||||||||||||||||||
Sales of loans held for sale | (23,953 | ) | (3,033 | ) | — | (26,986 | ) | ||||||||||||||||||||||||||||||||||
Principal payoffs and amortization | (27 | ) | (28 | ) | — | (55 | ) | ||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 5,611 | $ | 2,146 | $ | — | $ | 7,757 | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 7,977 | $ | 329 | $ | — | $ | 8,306 | |||||||||||||||||||||||||||||||||
Origination of loans held for sale | 58,725 | 4,387 | — | 63,112 | |||||||||||||||||||||||||||||||||||||
Reclassification from loans receivable to loans held for sale | 7,593 | 416 | — | 8,009 | |||||||||||||||||||||||||||||||||||||
Reclassification from loans held for sale to loans receivable | (2,118 | ) | (416 | ) | — | (2,534 | ) | ||||||||||||||||||||||||||||||||||
Sales of loans held for sale | (67,235 | ) | (4,391 | ) | — | (71,626 | ) | ||||||||||||||||||||||||||||||||||
Principal payoffs and amortization | (34 | ) | (5 | ) | — | (39 | ) | ||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 4,908 | $ | 320 | $ | — | $ | 5,228 | |||||||||||||||||||||||||||||||||
Allowance for Non-PCI Losses and Allowance for Off-Balance Sheet Items | ' | ||||||||||||||||||||||||||||||||||||||||
Activity in the allowance for loan losses and allowance for off-balance sheet items was as follows for the periods indicated: | |||||||||||||||||||||||||||||||||||||||||
As of and for the | As of and for the | ||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 51,886 | $ | 59,876 | $ | 57,555 | $ | 63,305 | |||||||||||||||||||||||||||||||||
Charge-offs | (1,418 | ) | (4,610 | ) | (5,569 | ) | (11,124 | ) | |||||||||||||||||||||||||||||||||
Recoveries on loans previously charged off | 663 | 2,383 | 6,656 | 4,964 | |||||||||||||||||||||||||||||||||||||
Net loan (charge-offs) recoveries | (755 | ) | (2,227 | ) | 1,087 | (6,160 | ) | ||||||||||||||||||||||||||||||||||
Provision (negative provision) charged to operating expense | 48 | (10 | ) | (7,463 | ) | 494 | |||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 51,179 | $ | 57,639 | $ | 51,179 | $ | 57,639 | |||||||||||||||||||||||||||||||||
Allowance for off-balance sheet items: | |||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 1,592 | $ | 1,320 | $ | 1,247 | $ | 1,824 | |||||||||||||||||||||||||||||||||
(Negative provision) provision charged to operating expense | (48 | ) | 10 | 297 | (494 | ) | |||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 1,544 | $ | 1,330 | $ | 1,544 | $ | 1,330 | |||||||||||||||||||||||||||||||||
Allowance for Loan Losses by Portfolio Segment | ' | ||||||||||||||||||||||||||||||||||||||||
The following table details the information on the allowance for loan losses by portfolio segment for the three months ended September 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||||||
Real Estate | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||
and Industrial | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 40,303 | $ | 9,738 | $ | 540 | $ | 1,305 | $ | 51,886 | |||||||||||||||||||||||||||||||
Charge-offs | (884 | ) | (499 | ) | (35 | ) | — | (1,418 | ) | ||||||||||||||||||||||||||||||||
Recoveries on loans previously charged off | 293 | 365 | 5 | — | 663 | ||||||||||||||||||||||||||||||||||||
(Negative provision) provision | 179 | 260 | (186 | ) | (205 | ) | 48 | ||||||||||||||||||||||||||||||||||
Ending balance | $ | 39,891 | $ | 9,864 | $ | 324 | $ | 1,100 | $ | 51,179 | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 2,027 | $ | 3,757 | $ | — | $ | — | $ | 5,784 | |||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 37,864 | $ | 6,107 | $ | 324 | $ | 1,100 | $ | 45,395 | |||||||||||||||||||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 2,411,154 | $ | 235,898 | $ | 28,907 | $ | — | $ | 2,675,959 | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 35,654 | $ | 11,970 | $ | 1,758 | $ | — | $ | 49,382 | |||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 2,308,884 | $ | 223,578 | $ | 27,091 | $ | — | $ | 2,559,553 | |||||||||||||||||||||||||||||||
Ending balance: acquired with deteriorated credit quality | $ | 66,616 | $ | 350 | $ | 58 | $ | — | $ | 67,024 | |||||||||||||||||||||||||||||||
Real Estate | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||
and Industrial | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 46,396 | $ | 11,118 | $ | 1,884 | $ | 478 | $ | 59,876 | |||||||||||||||||||||||||||||||
Charge-offs | (1,017 | ) | (3,575 | ) | (18 | ) | — | (4,610 | ) | ||||||||||||||||||||||||||||||||
Recoveries on loans previously charged off | 1,641 | 737 | 5 | — | 2,383 | ||||||||||||||||||||||||||||||||||||
Provision (negative provision) | (1,795 | ) | 388 | (232 | ) | 1,629 | (10 | ) | |||||||||||||||||||||||||||||||||
Ending balance | $ | 45,225 | $ | 8,668 | $ | 1,639 | $ | 2,107 | $ | 57,639 | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 564 | $ | 1,475 | $ | 330 | $ | — | $ | 2,369 | |||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 44,661 | $ | 7,193 | $ | 1,309 | $ | 2,107 | $ | 55,270 | |||||||||||||||||||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 1,921,659 | $ | 203,547 | $ | 34,065 | $ | — | $ | 2,159,271 | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 29,424 | $ | 12,468 | $ | 1,574 | $ | — | $ | 43,466 | |||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,892,235 | $ | 191,079 | $ | 32,491 | $ | — | $ | 2,115,805 | |||||||||||||||||||||||||||||||
The following table details the information on the allowance for loan losses by portfolio segment for the nine months ended September 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||||||
Real Estate | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||
and Industrial | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 43,550 | $ | 11,287 | $ | 1,427 | $ | 1,291 | $ | 57,555 | |||||||||||||||||||||||||||||||
Charge-offs | (2,073 | ) | (3,394 | ) | (102 | ) | — | (5,569 | ) | ||||||||||||||||||||||||||||||||
Recoveries on loans previously charged off | 3,298 | 3,338 | 20 | — | 6,656 | ||||||||||||||||||||||||||||||||||||
(Negative provision) provision | (4,884 | ) | (1,367 | ) | (1,021 | ) | (191 | ) | (7,463 | ) | |||||||||||||||||||||||||||||||
Ending balance | $ | 39,891 | $ | 9,864 | $ | 324 | $ | 1,100 | $ | 51,179 | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 2,027 | $ | 3,757 | $ | — | $ | — | $ | 5,784 | |||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 37,864 | $ | 6,107 | $ | 324 | $ | 1,100 | $ | 45,395 | |||||||||||||||||||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 2,411,154 | $ | 235,898 | $ | 28,907 | $ | — | $ | 2,675,959 | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 35,654 | $ | 11,970 | $ | 1,758 | $ | — | $ | 49,382 | |||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 2,308,884 | $ | 223,578 | $ | 27,091 | $ | — | $ | 2,559,553 | |||||||||||||||||||||||||||||||
Ending balance: acquired with deteriorated credit quality | $ | 66,616 | $ | 350 | $ | 58 | $ | — | $ | 67,024 | |||||||||||||||||||||||||||||||
Real Estate | Commercial | Consumer | Unallocated | Total | |||||||||||||||||||||||||||||||||||||
and Industrial | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 49,472 | $ | 10,636 | $ | 2,280 | $ | 917 | $ | 63,305 | |||||||||||||||||||||||||||||||
Charge-offs | (4,592 | ) | (6,314 | ) | (218 | ) | — | (11,124 | ) | ||||||||||||||||||||||||||||||||
Recoveries on loans previously charged off | 2,923 | 1,981 | 60 | — | 4,964 | ||||||||||||||||||||||||||||||||||||
Provision (negative provision) | (2,578 | ) | 2,365 | (483 | ) | 1,190 | 494 | ||||||||||||||||||||||||||||||||||
Ending balance | $ | 45,225 | $ | 8,668 | $ | 1,639 | $ | 2,107 | $ | 57,639 | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 564 | $ | 1,475 | $ | 330 | $ | — | $ | 2,369 | |||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 44,661 | $ | 7,193 | $ | 1,309 | $ | 2,107 | $ | 55,270 | |||||||||||||||||||||||||||||||
Loans receivable: | |||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 1,921,659 | $ | 203,547 | $ | 34,065 | $ | — | $ | 2,159,271 | |||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | 29,424 | $ | 12,468 | $ | 1,574 | $ | — | $ | 43,466 | |||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | 1,892,235 | $ | 191,079 | $ | 32,491 | $ | — | $ | 2,115,805 | |||||||||||||||||||||||||||||||
Analysis of Past Due Loans, Disaggregated by Loan Class | ' | ||||||||||||||||||||||||||||||||||||||||
The following is an aging analysis of past due loans (excluding PCI loans), disaggregated by loan class, as of the dates indicated: | |||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days or | Total Past Due | Current | Total | Accruing 90 | |||||||||||||||||||||||||||||||||||
Past Due | Past Due | More Past Due | Days or More | ||||||||||||||||||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 1,927 | $ | 146 | $ | 182 | $ | 2,255 | $ | 633,606 | $ | 635,861 | $ | — | |||||||||||||||||||||||||||
Hotel/Motel | 52 | 733 | 1,203 | 1,988 | 450,417 | 452,405 | — | ||||||||||||||||||||||||||||||||||
Gas station | 4,781 | 794 | 544 | 6,119 | 334,267 | 340,386 | — | ||||||||||||||||||||||||||||||||||
Other | 1,867 | 67 | 380 | 2,314 | 803,382 | 805,696 | 15 | ||||||||||||||||||||||||||||||||||
Construction | — | — | — | — | 4,146 | 4,146 | — | ||||||||||||||||||||||||||||||||||
Residential property | 113 | 121 | 486 | 720 | 105,324 | 106,044 | — | ||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 1,410 | 587 | 2,873 | 4,870 | 114,305 | 119,175 | — | ||||||||||||||||||||||||||||||||||
Commercial lines of credit | 274 | 197 | — | 471 | 74,775 | 75,246 | — | ||||||||||||||||||||||||||||||||||
International loans | 251 | — | — | 251 | 40,876 | 41,127 | — | ||||||||||||||||||||||||||||||||||
Consumer loans | — | — | 248 | 248 | 28,601 | 28,849 | — | ||||||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 10,675 | $ | 2,645 | $ | 5,916 | $ | 19,236 | $ | 2,589,699 | $ | 2,608,935 | $ | 15 | |||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days or | Total Past Due | Current | Total | Accruing 90 | |||||||||||||||||||||||||||||||||||
Past Due | Past Due | More Past Due | Days or More | ||||||||||||||||||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 202 | $ | 426 | $ | 2,196 | $ | 2,824 | $ | 540,794 | $ | 543,618 | $ | — | |||||||||||||||||||||||||||
Hotel/Motel | 1,087 | — | 1,532 | 2,619 | 320,308 | 322,927 | — | ||||||||||||||||||||||||||||||||||
Gas station | 141 | 410 | 153 | 704 | 291,853 | 292,557 | — | ||||||||||||||||||||||||||||||||||
Other | 423 | 2,036 | 839 | 3,298 | 728,320 | 731,618 | — | ||||||||||||||||||||||||||||||||||
Residential property | — | 122 | 279 | 401 | 78,677 | 79,078 | — | ||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 1,443 | 886 | 3,269 | 5,598 | 118,793 | 124,391 | — | ||||||||||||||||||||||||||||||||||
Commercial lines of credit | — | 150 | 250 | 400 | 70,642 | 71,042 | — | ||||||||||||||||||||||||||||||||||
International loans | — | — | — | — | 36,353 | 36,353 | — | ||||||||||||||||||||||||||||||||||
Consumer loans | 311 | 42 | 77 | 430 | 32,075 | 32,505 | — | ||||||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 3,607 | $ | 4,072 | $ | 8,595 | $ | 16,274 | $ | 2,217,815 | $ | 2,234,089 | $ | — | |||||||||||||||||||||||||||
Information on Impaired Loans, Disaggregated by Loan Class | ' | ||||||||||||||||||||||||||||||||||||||||
The following tables provide information on impaired loans (excluding PCI loans), disaggregated by loan class, as of the dates indicated: | |||||||||||||||||||||||||||||||||||||||||
Recorded | Unpaid Principal | With No | With an | Related | |||||||||||||||||||||||||||||||||||||
Investment | Balance | Related | Allowance | Allowance | |||||||||||||||||||||||||||||||||||||
Allowance | Recorded | ||||||||||||||||||||||||||||||||||||||||
Recorded | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 4,443 | $ | 4,543 | $ | 1,940 | $ | 2,503 | $ | 256 | |||||||||||||||||||||||||||||||
Hotel/Motel | 4,042 | 4,855 | 4,042 | — | 1,261 | ||||||||||||||||||||||||||||||||||||
Gas station | 14,152 | 14,681 | 13,692 | 460 | 166 | ||||||||||||||||||||||||||||||||||||
Other | 9,856 | 11,266 | 8,518 | 1,338 | 344 | ||||||||||||||||||||||||||||||||||||
Residential property | 3,161 | 3,292 | 3,161 | — | — | ||||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 7,958 | 8,408 | 1,914 | 6,044 | 3,469 | ||||||||||||||||||||||||||||||||||||
Commercial lines of credit | 2,874 | 2,976 | 2,692 | 182 | 183 | ||||||||||||||||||||||||||||||||||||
International loans | 1,138 | 1,138 | 460 | 678 | 105 | ||||||||||||||||||||||||||||||||||||
Consumer loans | 1,758 | 1,910 | 1,758 | — | — | ||||||||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 49,382 | $ | 53,069 | $ | 38,177 | $ | 11,205 | $ | 5,784 | |||||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 6,244 | $ | 6,332 | $ | 3,767 | $ | 2,477 | $ | 305 | |||||||||||||||||||||||||||||||
Hotel/Motel | 6,200 | 6,940 | 4,668 | 1,532 | 1,183 | ||||||||||||||||||||||||||||||||||||
Gas station | 9,389 | 9,884 | 8,592 | 797 | 209 | ||||||||||||||||||||||||||||||||||||
Other | 11,451 | 12,882 | 9,555 | 1,896 | 351 | ||||||||||||||||||||||||||||||||||||
Residential property | 2,678 | 2,773 | 2,678 | — | — | ||||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 13,834 | 14,308 | 2,929 | 10,905 | 3,806 | ||||||||||||||||||||||||||||||||||||
Commercial lines of credit | 614 | 686 | 173 | 441 | 252 | ||||||||||||||||||||||||||||||||||||
International loans | 1,087 | 1,087 | 286 | 801 | 78 | ||||||||||||||||||||||||||||||||||||
Consumer loans | 1,569 | 1,671 | 644 | 925 | 284 | ||||||||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 53,066 | $ | 56,563 | $ | 33,292 | $ | 19,774 | $ | 6,468 | |||||||||||||||||||||||||||||||
Average | Interest Income | Average | Interest Income | ||||||||||||||||||||||||||||||||||||||
Recorded | Recognized for | Recorded | Recognized for | ||||||||||||||||||||||||||||||||||||||
Investment for | the Three | Investment for | the Nine | ||||||||||||||||||||||||||||||||||||||
the Three Months | Months Ended | the Nine Months | Months Ended | ||||||||||||||||||||||||||||||||||||||
Ended | Ended | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 4,456 | $ | 36 | $ | 5,682 | $ | 215 | |||||||||||||||||||||||||||||||||
Hotel/Motel | 4,206 | 102 | 4,149 | 232 | |||||||||||||||||||||||||||||||||||||
Gas station | 14,181 | 218 | 12,023 | 587 | |||||||||||||||||||||||||||||||||||||
Other | 9,898 | 232 | 10,716 | 682 | |||||||||||||||||||||||||||||||||||||
Residential property | 3,173 | 30 | 2,853 | 87 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 8,118 | 126 | 10,007 | 443 | |||||||||||||||||||||||||||||||||||||
Commercial lines of credit | 2,884 | 36 | 1,447 | 61 | |||||||||||||||||||||||||||||||||||||
International loans | 1,146 | — | 1,136 | — | |||||||||||||||||||||||||||||||||||||
Consumer loans | 1,765 | 16 | 1,619 | 46 | |||||||||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 49,827 | $ | 796 | $ | 49,632 | $ | 2,353 | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 2,723 | $ | 27 | $ | 3,703 | $ | 105 | |||||||||||||||||||||||||||||||||
Hotel/Motel | 6,377 | 127 | 4,752 | 384 | |||||||||||||||||||||||||||||||||||||
Gas station | 8,777 | 229 | 8,775 | 569 | |||||||||||||||||||||||||||||||||||||
Other | 8,699 | 243 | 9,512 | 779 | |||||||||||||||||||||||||||||||||||||
Residential property | 2,992 | 33 | 3,026 | 92 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 10,581 | 191 | 12,751 | 692 | |||||||||||||||||||||||||||||||||||||
Commercial lines of credit | 840 | 23 | 1,137 | 47 | |||||||||||||||||||||||||||||||||||||
International loans | 1,197 | — | 1,342 | — | |||||||||||||||||||||||||||||||||||||
Consumer loans | 1,581 | 27 | 1,624 | 54 | |||||||||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 43,767 | $ | 900 | $ | 46,622 | $ | 2,722 | |||||||||||||||||||||||||||||||||
Summary of Interest Foregone on Impaired Loans | ' | ||||||||||||||||||||||||||||||||||||||||
The following is a summary of interest foregone on impaired loans (excluding PCI loans) for the periods indicated: | |||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Interest income that would have been recognized had impaired loans performed in accordance with their original terms | $ | 1,063 | $ | 1,058 | $ | 3,490 | $ | 3,183 | |||||||||||||||||||||||||||||||||
Less: Interest income recognized on impaired loans | (796 | ) | (900 | ) | (2,353 | ) | (2,722 | ) | |||||||||||||||||||||||||||||||||
Interest foregone on impaired loans | $ | 267 | $ | 158 | $ | 1,137 | $ | 461 | |||||||||||||||||||||||||||||||||
Non-Accrual Loans, Disaggregated by Loan Class | ' | ||||||||||||||||||||||||||||||||||||||||
The following table details nonaccrual loans (excluding PCI loans), disaggregated by loan class, as of the dates indicated: | |||||||||||||||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 2,062 | $ | 2,946 | |||||||||||||||||||||||||||||||||||||
Hotel/Motel | 3,051 | 5,200 | |||||||||||||||||||||||||||||||||||||||
Gas station | 5,208 | 2,492 | |||||||||||||||||||||||||||||||||||||||
Other | 3,674 | 4,808 | |||||||||||||||||||||||||||||||||||||||
Residential property | 1,516 | 1,365 | |||||||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 6,060 | 7,146 | |||||||||||||||||||||||||||||||||||||||
Commercial lines of credit | 674 | 423 | |||||||||||||||||||||||||||||||||||||||
Consumer loans | 1,758 | 1,497 | |||||||||||||||||||||||||||||||||||||||
Total nonaccrual Non-PCI loans | $ | 24,003 | $ | 25,877 | |||||||||||||||||||||||||||||||||||||
Non-Performing Assets | ' | ||||||||||||||||||||||||||||||||||||||||
The following table details nonperforming assets (excluding PCI loans) as of the dates indicated: | |||||||||||||||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Nonaccrual Non-PCI loans | $ | 24,003 | $ | 25,877 | |||||||||||||||||||||||||||||||||||||
Loans 90 days or more past due and still accruing | 15 | — | |||||||||||||||||||||||||||||||||||||||
Total nonperforming Non-PCI loans | 24,018 | 25,877 | |||||||||||||||||||||||||||||||||||||||
Other real estate owned | 24,781 | 756 | |||||||||||||||||||||||||||||||||||||||
Total nonperforming assets | $ | 48,799 | $ | 26,633 | |||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings, Disaggregated by Type of Concession and by Loan Type | ' | ||||||||||||||||||||||||||||||||||||||||
The following table details troubled debt restructurings (excluding PCI loans), disaggregated by concession type and by loan type, as of September 30, 2014 and December 31, 2013: | |||||||||||||||||||||||||||||||||||||||||
Nonaccrual TDRs | Accrual TDRs | ||||||||||||||||||||||||||||||||||||||||
Deferral | Deferral | Reduction | Extension | Total | Deferral | Deferral | Reduction | Extension | Total | ||||||||||||||||||||||||||||||||
of | of | of | of | of | of | of | of | ||||||||||||||||||||||||||||||||||
Principal | Principal | Principal | Maturity | Principal | Principal | Principal | Maturity | ||||||||||||||||||||||||||||||||||
and | and | and | and | ||||||||||||||||||||||||||||||||||||||
Interest | Interest | Interest | Interest | ||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | — | $ | — | $ | — | $ | 1,856 | $ | 1,856 | $ | 307 | $ | — | $ | — | $ | — | $ | 307 | |||||||||||||||||||||
Hotel/Motel | 1,158 | 727 | — | — | 1,885 | 991 | — | — | — | 991 | |||||||||||||||||||||||||||||||
Gas station | 1,106 | — | — | — | 1,106 | 2,351 | — | — | — | 2,351 | |||||||||||||||||||||||||||||||
Other | — | 1,532 | 465 | 59 | 2,056 | 3,310 | — | 792 | 1,378 | 5,480 | |||||||||||||||||||||||||||||||
Residential property | 755 | — | — | — | 755 | — | — | — | 311 | 311 | |||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 118 | 2 | 1,007 | 1,567 | 2,694 | 61 | 227 | 2,118 | 1,176 | 3,582 | |||||||||||||||||||||||||||||||
Commercial lines of credit | 230 | — | 316 | 128 | 674 | 2,200 | — | — | — | 2,200 | |||||||||||||||||||||||||||||||
Consumer loans | — | — | 135 | — | 135 | — | — | — | — | — | |||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 3,367 | $ | 2,261 | $ | 1,923 | $ | 3,610 | $ | 11,161 | $ | 9,220 | $ | 227 | $ | 2,910 | $ | 2,865 | $ | 15,222 | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | — | $ | — | $ | — | $ | 750 | $ | 750 | $ | — | $ | — | $ | — | $ | 474 | $ | 474 | |||||||||||||||||||||
Hotel/Motel | 1,272 | 758 | — | — | 2,030 | 1,000 | — | — | — | 1,000 | |||||||||||||||||||||||||||||||
Gas station | 1,291 | — | 729 | — | 2,020 | 365 | — | — | 2,609 | 2,974 | |||||||||||||||||||||||||||||||
Other | 403 | 1,279 | 555 | — | 2,237 | 2,956 | — | 1,253 | 2,027 | 6,236 | |||||||||||||||||||||||||||||||
Residential property | 795 | — | — | — | 795 | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 25 | 206 | 1,449 | 851 | 2,531 | 1,203 | — | 2,286 | 3,817 | 7,306 | |||||||||||||||||||||||||||||||
Commercial lines of credit | — | — | — | 173 | 173 | — | — | 191 | — | 191 | |||||||||||||||||||||||||||||||
International loans | — | — | — | — | — | — | — | 1,087 | — | 1,087 | |||||||||||||||||||||||||||||||
Consumer loans | — | — | — | — | — | — | — | 149 | — | 149 | |||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 3,786 | $ | 2,243 | $ | 2,733 | $ | 1,774 | $ | 10,536 | $ | 5,524 | $ | — | $ | 4,966 | $ | 8,927 | $ | 19,417 | |||||||||||||||||||||
Troubled Debt Restructurings, Disaggregated by Loan Class | ' | ||||||||||||||||||||||||||||||||||||||||
The following table details troubled debt restructurings (excluding PCI loans), disaggregated by loan class, for the three months ended September 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||
Number of | Pre- | Post- | Number of | Pre- | Post- | ||||||||||||||||||||||||||||||||||||
Loans | Modification | Modification | Loans | Modification | Modification | ||||||||||||||||||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||||||||||||||
(In thousands, except number of loans) | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Hotel/Motel (1) | — | $ | — | $ | — | 1 | $ | 1,000 | $ | 1,000 | |||||||||||||||||||||||||||||||
Gas station (2) | 1 | 2,014 | 1,991 | 1 | 107 | 91 | |||||||||||||||||||||||||||||||||||
Other (3) | 1 | 395 | 385 | 2 | 1,011 | 1,014 | |||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term (4) | — | — | — | 8 | 1,015 | 1,002 | |||||||||||||||||||||||||||||||||||
Commercial lines of credit (5) | 1 | 2,092 | 2,200 | — | — | — | |||||||||||||||||||||||||||||||||||
Total Non-PCI loans | 3 | $ | 4,501 | $ | 4,576 | 12 | $ | 3,133 | $ | 3,107 | |||||||||||||||||||||||||||||||
(1) | Includes a modification of $1.0 million through a payment deferral for the three months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
(2) | Includes a modification of $2.0 million through a payment deferral for the three months ended September 30, 2014, and a modification of $91,000 through a payment deferral for the three months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
(3) | Includes a modification of $385,000 through a payment deferral for the three months ended September 30, 2014, and modifications of $365,000 through a payment deferral and reduction of principal or accrued interest and $649,000 through an extension of maturity for the three months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
(4) | Includes modifications of $381,000 through payment deferrals and $621,000 through extensions of maturity for the three months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
(5) | Includes a modification of $2.2 million through a payment deferral for the three months ended September 30, 2014. | ||||||||||||||||||||||||||||||||||||||||
The following table details troubled debt restructurings (excluding PCI loans), disaggregated by loan class, for the nine months ended September 30, 2014 and 2013: | |||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||
Number of | Pre- | Post- | Number of | Pre- | Post- | ||||||||||||||||||||||||||||||||||||
Loans | Modification | Modification | Loans | Modification | Modification | ||||||||||||||||||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||||||||||||||
(In thousands, except number of loans) | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail (1) | 1 | $ | 2,002 | $ | 1,856 | — | $ | — | $ | — | |||||||||||||||||||||||||||||||
Hotel/Motel (2) | — | — | — | 1 | 1,000 | 1,000 | |||||||||||||||||||||||||||||||||||
Gas station (3) | 1 | 2,040 | 1,991 | 1 | 113 | 91 | |||||||||||||||||||||||||||||||||||
Other (4) | 3 | 1,422 | 1,386 | 3 | 1,176 | 1,144 | |||||||||||||||||||||||||||||||||||
Residential property (5) | 1 | 317 | 311 | — | — | — | |||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term (6) | 5 | 327 | 263 | 15 | 1,787 | 1,625 | |||||||||||||||||||||||||||||||||||
Commercial lines of credit (7) | 3 | 2,366 | 2,563 | — | — | — | |||||||||||||||||||||||||||||||||||
International loans (8) | — | — | — | 2 | 1,584 | 1,180 | |||||||||||||||||||||||||||||||||||
Consumer loans (9) | — | — | — | 1 | 149 | 149 | |||||||||||||||||||||||||||||||||||
Total Non-PCI loans | 14 | $ | 8,474 | $ | 8,370 | 23 | $ | 5,809 | $ | 5,189 | |||||||||||||||||||||||||||||||
(1) | Includes a modification of $1.9 million through an extension of maturity for the nine months ended September 30, 2014. | ||||||||||||||||||||||||||||||||||||||||
(2) | Includes a modification of $1.0 million through an extension of maturity for the nine months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
(3) | Includes a modification of $2.0 million through a payment deferral for the nine months ended September 30, 2014, and a modification of $91,000 a payment deferral for the nine months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
(4) | Includes modifications of $1.3 million through payment deferrals and $59,000 through an extension of maturity for the nine months ended September 30, 2014, and modifications of $356,000 through a payment deferral, $130,000 through a reduction of principal or accrued interests and $649,000 through an extension of maturity for the nine months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
(5) | Includes a modification of $311,000 through an extension of maturity for the nine months ended September 30, 2014. | ||||||||||||||||||||||||||||||||||||||||
(6) | Includes modifications of $39,000 through a payment deferral, $51,000 through reductions of principal or accrued interest and $173,000 through an extension of maturity for the nine months ended September 30, 2014, and modifications of $388,000 through payment deferrals and $1.2 million through extensions of maturity for the nine months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
(7) | Includes modifications of $2.4 million through payment deferrals and $134,000 through a reduction of principal or accrued interest for the nine months ended September 30, 2014. | ||||||||||||||||||||||||||||||||||||||||
(8) | Includes modifications of $1.2 million through reductions of principal or accrued interest for the nine months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
(9) | Includes a modification of $149,000 through a reduction of principal or accrued interest for the nine months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings that Defaulted Subsequent to Modifications Occurring Within Previous Twelve Months, Disaggregated by Loan Class | ' | ||||||||||||||||||||||||||||||||||||||||
The following table details troubled debt restructurings, excluding PCI loans, that defaulted subsequent to the modifications occurring within the previous twelve months, disaggregated by loan class, for the three and nine months ended September 30, 2014 and 2013, respectively: | |||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||
September 30, 2014 | September 30, 2013 | September 30, 2014 | September 30, 2013 | ||||||||||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||||||||||
Loans | Investment | Loans | Investment | Loans | Investment | Loans | Investment | ||||||||||||||||||||||||||||||||||
(In thousands, except number of loans) | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | 1 | $ | 1,856 | — | $ | — | 1 | $ | 1,856 | — | $ | — | |||||||||||||||||||||||||||||
Other | — | — | 1 | 130 | — | — | 1 | 130 | |||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 2 | 47 | — | — | 2 | 47 | 1 | 29 | |||||||||||||||||||||||||||||||||
Commercial lines of credit | 2 | 412 | — | — | 3 | 546 | — | — | |||||||||||||||||||||||||||||||||
Total Non-PCI loans | 5 | $ | 2,315 | 1 | $ | 130 | 6 | $ | 2,449 | 2 | $ | 159 | |||||||||||||||||||||||||||||
Schedule of Changes in Outstanding Balance and Carrying Amount of PCI Loans | ' | ||||||||||||||||||||||||||||||||||||||||
The following table presents the outstanding balance and carrying amount of those PCI loans as of the dates indicated: | |||||||||||||||||||||||||||||||||||||||||
Carrying | Accretable | ||||||||||||||||||||||||||||||||||||||||
Amount | Yield | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2014 | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Additions from CBI acquisition at August 31, 2014 | 75,878 | (22,858 | ) | ||||||||||||||||||||||||||||||||||||||
Accretion | 491 | 491 | |||||||||||||||||||||||||||||||||||||||
Payment received | (5,892 | ) | — | ||||||||||||||||||||||||||||||||||||||
Disposals/transfers to OREO | (3,453 | ) | 212 | ||||||||||||||||||||||||||||||||||||||
Balance at September 30, 2014 | $ | 67,024 | $ | (22,155 | ) | ||||||||||||||||||||||||||||||||||||
As of September 30, 2014, pass/pass-watch (grade 0-4), criticized (grade 5) and classified (grade 6-7) PCI loans, disaggregated by loan class, were as follows: | |||||||||||||||||||||||||||||||||||||||||
Changes in Servicing Assets | ' | ||||||||||||||||||||||||||||||||||||||||
The changes in servicing assets for the nine months ended September 30, 2014 and 2013 were as follows: | |||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 6,833 | $ | 5,542 | |||||||||||||||||||||||||||||||||||||
Additions from CBI acquisition | 1,458 | — | |||||||||||||||||||||||||||||||||||||||
Addition related to sale of SBA loans | 871 | 1,996 | |||||||||||||||||||||||||||||||||||||||
Amortization | (1,318 | ) | (1,152 | ) | |||||||||||||||||||||||||||||||||||||
Balance at end of period | $ | 7,844 | $ | 6,386 | |||||||||||||||||||||||||||||||||||||
Non-PCI Loans [Member] | ' | ||||||||||||||||||||||||||||||||||||||||
Credit Quality of Loan Portfolio | ' | ||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 and December 31, 2013, pass/pass-watch (grade 0-4), criticized (grade 5) and classified (grade 6-7) loans (excluding PCI loans), disaggregated by loan class, were as follows: | |||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Pass/Pass-Watch | Criticized | Classified | Total | ||||||||||||||||||||||||||||||||||||||
(Grade 0-4) | (Grade 5) | (Grade 6-7) | |||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 620,511 | $ | 12,821 | $ | 2,529 | $ | 635,861 | |||||||||||||||||||||||||||||||||
Hotel/Motel | 399,006 | 48,995 | 4,404 | 452,405 | |||||||||||||||||||||||||||||||||||||
Gas station | 320,501 | 10,054 | 9,831 | 340,386 | |||||||||||||||||||||||||||||||||||||
Other | 780,400 | 13,599 | 11,697 | 805,696 | |||||||||||||||||||||||||||||||||||||
Construction | 4,146 | — | — | 4,146 | |||||||||||||||||||||||||||||||||||||
Residential property | 103,812 | 122 | 2,110 | 106,044 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 108,908 | 1,315 | 8,952 | 119,175 | |||||||||||||||||||||||||||||||||||||
Commercial lines of credit | 74,286 | — | 960 | 75,246 | |||||||||||||||||||||||||||||||||||||
International loans | 38,676 | — | 2,451 | 41,127 | |||||||||||||||||||||||||||||||||||||
Consumer loans | 26,626 | 140 | 2,083 | 28,849 | |||||||||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 2,476,872 | $ | 87,046 | $ | 45,017 | $ | 2,608,935 | |||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
Pass/Pass-Watch | Criticized | Classified | Total | ||||||||||||||||||||||||||||||||||||||
(Grade 0-4) | (Grade 5) | (Grade 6-7) | |||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 531,014 | $ | 5,309 | $ | 7,296 | $ | 543,619 | |||||||||||||||||||||||||||||||||
Hotel/Motel | 308,483 | 1,796 | 12,648 | 322,927 | |||||||||||||||||||||||||||||||||||||
Gas station | 279,636 | 3,104 | 9,817 | 292,557 | |||||||||||||||||||||||||||||||||||||
Other | 690,481 | 8,524 | 32,612 | 731,617 | |||||||||||||||||||||||||||||||||||||
Residential property | 77,422 | — | 1,656 | 79,078 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | 107,712 | 2,007 | 14,672 | 124,391 | |||||||||||||||||||||||||||||||||||||
Commercial lines of credit | 69,823 | — | 1,219 | 71,042 | |||||||||||||||||||||||||||||||||||||
International loans | 35,777 | 576 | — | 36,353 | |||||||||||||||||||||||||||||||||||||
Consumer loans | 30,044 | 163 | 2,298 | 32,505 | |||||||||||||||||||||||||||||||||||||
Total Non-PCI loans | $ | 2,130,392 | $ | 21,479 | $ | 82,218 | $ | 2,234,089 | |||||||||||||||||||||||||||||||||
PCI Loans [Member] | ' | ||||||||||||||||||||||||||||||||||||||||
Credit Quality of Loan Portfolio | ' | ||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014, pass/pass-watch (grade 0-4), criticized (grade 5) and classified (grade 6-7) PCI loans, disaggregated by loan class, were as follows: | |||||||||||||||||||||||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||||||||||||||||||||
Pass/Pass-Watch | Criticized | Classified | Total | ||||||||||||||||||||||||||||||||||||||
(Grade 0-4) | (Grade 5) | (Grade 6-7) | |||||||||||||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial property | |||||||||||||||||||||||||||||||||||||||||
Retail | $ | 2,939 | $ | 215 | $ | 12,786 | $ | 15,940 | |||||||||||||||||||||||||||||||||
Hotel/Motel | 248 | — | 13,958 | 14,206 | |||||||||||||||||||||||||||||||||||||
Gas station | 10,200 | 1,205 | 6,664 | 18,069 | |||||||||||||||||||||||||||||||||||||
Other | 2,154 | — | 13,561 | 15,715 | |||||||||||||||||||||||||||||||||||||
Residential property | — | — | 2,686 | 2,686 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial loans: | |||||||||||||||||||||||||||||||||||||||||
Commercial term | — | — | 350 | 350 | |||||||||||||||||||||||||||||||||||||
Consumer loans | — | — | 58 | 58 | |||||||||||||||||||||||||||||||||||||
Total PCI loans | $ | 15,541 | $ | 1,420 | $ | 50,063 | $ | 67,024 | |||||||||||||||||||||||||||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Activity in Accumulated Other Comprehensive Income | ' | ||||||||||||||||
Activity in accumulated other comprehensive income for the three months ended September 30, 2014 and 2013 was as follows: | |||||||||||||||||
Unrealized Gains | Unrealized Gains | Tax Benefit | Total | ||||||||||||||
and Losses on | and Losses on | ||||||||||||||||
Available-for-Sale | Interest-Only | ||||||||||||||||
Securities | Strip | ||||||||||||||||
(In thousands) | |||||||||||||||||
For the three months ended September 30 2014: | |||||||||||||||||
Balance at beginning of period | $ | (5,534 | ) | $ | 17 | $ | 3,367 | $ | (2,150 | ) | |||||||
Other comprehensive (loss) income before reclassification | (4,947 | ) | (3 | ) | 2,102 | (2,848 | ) | ||||||||||
Reclassification from accumulated other comprehensive income | (67 | ) | — | — | (67 | ) | |||||||||||
Period change | (5,014 | ) | (3 | ) | 2,102 | (2,915 | ) | ||||||||||
Balance at end of period | $ | (10,548 | ) | $ | 14 | $ | 5,469 | $ | (5,065 | ) | |||||||
For the three months ended September 30, 2013: | |||||||||||||||||
Balance at beginning of period | $ | 915 | $ | 17 | $ | 702 | $ | 1,634 | |||||||||
Other comprehensive (loss) income before reclassification | (10,020 | ) | — | 4,528 | (5,492 | ) | |||||||||||
Reclassification from accumulated other comprehensive income | (611 | ) | — | — | (611 | ) | |||||||||||
Period change | (10,631 | ) | — | 4,528 | (6,103 | ) | |||||||||||
Balance at end of period | $ | (9,716 | ) | $ | 17 | $ | 5,230 | $ | (4,469 | ) | |||||||
Activity in accumulated other comprehensive income for the nine months ended September 30, 2014 and 2013 was as follows: | |||||||||||||||||
Unrealized Gains | Unrealized Gains | Tax Benefit | Total | ||||||||||||||
and Losses on | and Losses on | (Expense) | |||||||||||||||
Available-for-Sale | Interest-Only | ||||||||||||||||
Securities | Strip | ||||||||||||||||
(In thousands) | |||||||||||||||||
For the nine months ended September 30 2014: | |||||||||||||||||
Balance at beginning of period | $ | (18,187 | ) | $ | 16 | $ | 8,791 | $ | (9,380 | ) | |||||||
Other comprehensive income (loss) before reclassification | 9,491 | (2 | ) | (3,322 | ) | 6,167 | |||||||||||
Reclassification from accumulated other comprehensive income | (1,852 | ) | — | — | (1,852 | ) | |||||||||||
Period change | 7,639 | (2 | ) | (3,322 | ) | 4,315 | |||||||||||
Balance at end of period | $ | (10,548 | ) | $ | 14 | $ | 5,469 | $ | (5,065 | ) | |||||||
For the nine months ended September 30, 2013: | |||||||||||||||||
Balance at beginning of period | $ | 7,348 | $ | 16 | $ | (1,946 | ) | $ | 5,418 | ||||||||
Other comprehensive (loss) income before reclassification | (16,141 | ) | 1 | 7,176 | (8,964 | ) | |||||||||||
Reclassification from accumulated other comprehensive income | (923 | ) | — | — | (923 | ) | |||||||||||
Period change | (17,064 | ) | 1 | 7,176 | (9,887 | ) | |||||||||||
Balance at end of period | $ | (9,716 | ) | $ | 17 | $ | 5,230 | $ | (4,469 | ) | |||||||
Regulatory_Matters_Tables
Regulatory Matters (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Banking and Thrift [Abstract] | ' | ||||||||||||||||||||||||
Capital Ratios of Hanmi Financial and Bank | ' | ||||||||||||||||||||||||
The capital ratios of Hanmi Financial and the Bank as of September 30, 2014 and December 31, 2013 were as follows: | |||||||||||||||||||||||||
Actual | Minimum | Minimum to Be | |||||||||||||||||||||||
Regulatory | Categorized as | ||||||||||||||||||||||||
Requirement | “Well Capitalized” | ||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||
Total capital (to risk-weighted assets): | |||||||||||||||||||||||||
Hanmi Financial | $ | 482,481 | 16.33 | % | $ | 236,338 | 8 | % | N/A | N/A | |||||||||||||||
Hanmi Bank | $ | 482,802 | 16.28 | % | $ | 237,193 | 8 | % | $ | 296,492 | 10 | % | |||||||||||||
Tier 1 capital (to risk-weighted assets): | |||||||||||||||||||||||||
Hanmi Financial | $ | 445,357 | 15.08 | % | $ | 118,169 | 4 | % | N/A | N/A | |||||||||||||||
Hanmi Bank | $ | 444,771 | 15 | % | $ | 118,597 | 4 | % | $ | 177,895 | 6 | % | |||||||||||||
Tier 1 capital (to average assets): | |||||||||||||||||||||||||
Hanmi Financial | $ | 445,357 | 12.8 | % | $ | 139,169 | 4 | % | N/A | N/A | |||||||||||||||
Hanmi Bank | $ | 444,771 | 12.81 | % | $ | 138,926 | 4 | % | $ | 173,658 | 5 | % | |||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
Total capital (to risk-weighted assets): | |||||||||||||||||||||||||
Hanmi Financial | $ | 426,614 | 17.48 | % | $ | 195,210 | 8 | % | N/A | N/A | |||||||||||||||
Hanmi Bank | $ | 409,095 | 16.79 | % | $ | 194,880 | 8 | % | $ | 243,600 | 10 | % | |||||||||||||
Tier 1 capital (to risk-weighted assets): | |||||||||||||||||||||||||
Hanmi Financial | $ | 395,763 | 16.26 | % | $ | 97,605 | 4 | % | N/A | N/A | |||||||||||||||
Hanmi Bank | $ | 378,295 | 15.53 | % | $ | 97,440 | 4 | % | $ | 146,160 | 6 | % | |||||||||||||
Tier 1 capital (to average assets): | |||||||||||||||||||||||||
Hanmi Financial | $ | 395,763 | 13.62 | % | $ | 116,249 | 4 | % | N/A | N/A | |||||||||||||||
Hanmi Bank | $ | 378,295 | 13.05 | % | $ | 115,984 | 4 | % | $ | 144,980 | 5 | % |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||||||
As of September 30, 2014 and December 31, 2013, assets and liabilities measured at fair value on a recurring basis are as follows: | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||
Quoted Prices in | Significant | Significant | Balance | ||||||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||||||
for Identical | Inputs with No | Inputs | |||||||||||||||||||
Assets | Active Market | ||||||||||||||||||||
with Identical | |||||||||||||||||||||
Characteristics | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||
Mortgage-backed securities | $ | — | $ | 584,157 | $ | — | $ | 584,157 | |||||||||||||
Collateralized mortgage obligations | — | 196,211 | — | 196,211 | |||||||||||||||||
U.S. government agency securities | 172,793 | — | — | 172,793 | |||||||||||||||||
SBA loan pools securities | — | 114,117 | — | 114,117 | |||||||||||||||||
Municipal bonds-tax exempt | — | 3,711 | 718 | 4,429 | |||||||||||||||||
Municipal bonds-taxable | — | 16,660 | — | 16,660 | |||||||||||||||||
Corporate bonds | — | 16,940 | — | 16,940 | |||||||||||||||||
U.S. treasury securities | 163 | — | — | 163 | |||||||||||||||||
Other securities | — | 22,704 | — | 22,704 | |||||||||||||||||
Equity security | — | — | 450 | 450 | |||||||||||||||||
Total securities available for sale | $ | 172,956 | $ | 954,500 | $ | 1,168 | $ | 1,128,624 | |||||||||||||
December 31, 2013 | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||
Mortgage-backed securities | $ | — | $ | 217,059 | $ | — | $ | 217,059 | |||||||||||||
Collateralized mortgage obligations | — | 127,693 | — | 127,693 | |||||||||||||||||
U.S. government agency securities | 83,536 | — | — | 83,536 | |||||||||||||||||
SBA loan pools securities | — | 12,629 | — | 12,629 | |||||||||||||||||
Municipal bonds-tax exempt | — | 13,189 | 748 | 13,937 | |||||||||||||||||
Municipal bonds-taxable | — | 32,354 | — | 32,354 | |||||||||||||||||
Corporate bonds | — | 20,835 | — | 20,835 | |||||||||||||||||
U.S. treasury securities | 19,997 | — | — | 19,997 | |||||||||||||||||
Other securities | — | 2,886 | — | 2,886 | |||||||||||||||||
Total securities available for sale | $ | 103,533 | $ | 426,645 | $ | 748 | $ | 530,926 | |||||||||||||
Liabilities: | |||||||||||||||||||||
Stock warrants | $ | — | $ | — | $ | 2 | $ | 2 | |||||||||||||
Reconciliation and Income Statement Classification of Gains and Losses for All Assets and Liabilities | ' | ||||||||||||||||||||
The table below presents a reconciliation and income statement classification of gains and losses for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended September 30, 2014: | |||||||||||||||||||||
Beginning | Purchases, | Realized | Unrealized | Ending | |||||||||||||||||
Balance as of | Issuances | Gains or | Gains or | Balance as of | |||||||||||||||||
January 1, | and | Losses | Losses | September 30, | |||||||||||||||||
2014 | Settlement | in Earnings | in Other | 2014 | |||||||||||||||||
Comprehensive | |||||||||||||||||||||
Income | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Municipal bonds-tax exempt (1) | $ | 748 | $ | — | $ | — | $ | (30 | ) | $ | 718 | ||||||||||
Equity securities (2) | $ | — | $ | 450 | $ | — | $ | — | $ | 450 | |||||||||||
Liabilities: | |||||||||||||||||||||
Stock warrants (3) | $ | 2 | $ | (2 | ) | $ | — | $ | — | $ | — | ||||||||||
(1) | Reflects a zero coupon tax credit municipal bond. As the Company was not able to obtain a price from independent external pricing service providers, the discounted cash flow method was used to determine its fair value. The bond carried a par value of $700,000 and an amortized value of $700,000 with a remaining life of 0.48 year at September 30, 2014. | ||||||||||||||||||||
(2) | Reflects two equity securities that are not actively traded. The fair value of one equity security with a fair value of $250,000 was computed using valuation multiples (price to book and price to earnings) derived from market transactions for comparable companies. The other equity security with a fair value of $200,000 was computed using valuation multiples (price to book and price to earnings) derived from 1) market transactions for comparable companies, and 2) publicly-traded comparable companies. In addition to these approaches, the Company considered a discounted cash flow approach, which cash flows, calculated based on a redemption or liquidation policy of the equity issuer, are discounted back to the present using a 10.5% discount rate. | ||||||||||||||||||||
(3) | Reflects warrants for our common stock issued in connection with services Cappello Capital Corp. provided to us as a placement agent in connection with our best efforts public offering and as our financial adviser in connection with our completed rights offering. The warrants were immediately exercisable when issued at an exercise price of $9.60 per share of our common stock and expire on October 14, 2015. There were no outstanding stock warrants as of September 30, 2014. See “Note 9 – Stockholders’ Equity” for more details. | ||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on Non-Recurring Basis | ' | ||||||||||||||||||||
As of September 30, 2014 and December 31, 2013, assets and liabilities measured at fair value on a non-recurring basis are as follows: | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||
Quoted Prices in | Significant | Significant | Loss During the | ||||||||||||||||||
Active Markets | Observable | Unobservable | Nine Months Ended | ||||||||||||||||||
for Identical | Inputs With No | Inputs | 30-Sep-14 | ||||||||||||||||||
Assets | Active Market | ||||||||||||||||||||
With Identical | |||||||||||||||||||||
Characteristics | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Impaired loans (excluding PCI loans) (1) | $ | — | $ | 34,373 | $ | 2,199 | $ | 2,905 | |||||||||||||
Other real estate owned (2) | — | 24,781 | — | — | |||||||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||||||||
Quoted Prices in | Significant | Significant | Loss During the | ||||||||||||||||||
Active Markets | Observable | Unobservable | Twelve Months Ended | ||||||||||||||||||
for Identical | Inputs With No | Inputs | 31-Dec-13 | ||||||||||||||||||
Assets | Active Market | ||||||||||||||||||||
With Identical | |||||||||||||||||||||
Characteristics | |||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Impaired loans (3) | $ | — | $ | 36,254 | $ | 1,738 | $ | 2,431 | |||||||||||||
Other real estate owned (4) | — | 756 | — | 10 | |||||||||||||||||
(1) | Include real estate loans of $33.6 million, commercial and industrial loans of $1.2 million, and consumer loans of $1.8 million. | ||||||||||||||||||||
(2) | Includes properties from the foreclosure of real estate loans of $24.8 million of which $22.3 million was acquired from CBI. | ||||||||||||||||||||
(3) | Include real estate loans of $32.2 million, commercial and industrial loans of $2.8 million, and consumer loans of $1.3 million. | ||||||||||||||||||||
(4) | Includes properties from the foreclosure of real estate loans of $756,000. | ||||||||||||||||||||
Estimated Fair Values of Financial Instruments | ' | ||||||||||||||||||||
The estimated fair values of financial instruments were as follows: | |||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||
Carrying | Fair Value | ||||||||||||||||||||
Amount | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 197,016 | $ | 197,016 | $ | — | $ | — | |||||||||||||
Securities available for sale | 1,128,624 | 172,956 | 954,500 | 1,168 | |||||||||||||||||
Loans receivable, net of allowance for loan losses | 2,628,091 | — | — | 2,686,838 | |||||||||||||||||
Loans held for sale | 7,757 | — | 7,757 | — | |||||||||||||||||
Accrued interest receivable | 9,880 | 9,880 | — | — | |||||||||||||||||
Servicing assets | 7,844 | — | — | 7,844 | |||||||||||||||||
Investment in federal home loan bank stock | 17,579 | 17,579 | — | — | |||||||||||||||||
Investment in federal reserve bank stock | 12,273 | 12,273 | — | — | |||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Noninterest-bearing deposits | 1,029,343 | — | 1,029,343 | — | |||||||||||||||||
Interest-bearing deposits | 2,568,811 | — | — | 2,565,504 | |||||||||||||||||
Borrowings | 128,509 | — | — | 128,509 | |||||||||||||||||
Accrued interest payable | 3,030 | 3,030 | — | — | |||||||||||||||||
Off-balance sheet items: | |||||||||||||||||||||
Commitments to extend credit | 327,381 | — | — | 327,381 | |||||||||||||||||
Standby letters of credit | 9,140 | — | — | 9,140 | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Carrying | Fair Value | ||||||||||||||||||||
Amount | Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 179,357 | $ | 179,357 | $ | — | $ | — | |||||||||||||
Securities available for sale | 530,926 | 103,533 | 426,645 | 748 | |||||||||||||||||
Loans receivable, net of allowance for loan losses | 2,177,498 | — | — | 2,204,069 | |||||||||||||||||
Loans held for sale | — | — | — | — | |||||||||||||||||
Accrued interest receivable | 7,055 | 7,055 | — | — | |||||||||||||||||
Servicing assets | 6,833 | — | — | 6,833 | |||||||||||||||||
Investment in federal home loan bank stock | 14,060 | 14,060 | — | — | |||||||||||||||||
Investment in federal reserve bank stock | 11,196 | 11,196 | — | — | |||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Noninterest-bearing deposits | 819,015 | — | 819,015 | — | |||||||||||||||||
Interest-bearing deposits | 1,693,310 | — | — | 1,693,739 | |||||||||||||||||
Borrowings | 127,546 | — | — | 247,249 | |||||||||||||||||
Accrued interest payable | 3,366 | 3,366 | — | — | |||||||||||||||||
Off-balance sheet items: | |||||||||||||||||||||
Commitments to extend credit | 246,161 | — | — | 246,161 | |||||||||||||||||
Standby letters of credit | 8,926 | — | — | 8,926 |
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Unrecognized Share-Based Compensation Expense | ' | ||||||||||||||||
As of September 30, 2014, unrecognized share-based compensation expense was as follows: | |||||||||||||||||
Unrecognized | Average Expected | ||||||||||||||||
Expense | Recognition | ||||||||||||||||
Period | |||||||||||||||||
(In thousands) | |||||||||||||||||
Stock option awards | $ | 1,490 | 2.2 years | ||||||||||||||
Restricted stock awards | 2,822 | 2.6 years | |||||||||||||||
Total unrecognized share-based compensation expense | $ | 4,312 | 2.4 years | ||||||||||||||
Summary of Stock Options Outstanding under Plans | ' | ||||||||||||||||
The table below provides stock option information for the three months ended September 30, 2014: | |||||||||||||||||
Number of | Weighted- | Weighted- | Aggregate | ||||||||||||||
Shares | Average | Average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value of | |||||||||||||||
Price Per | Contractual | In-the- | |||||||||||||||
Share | Life | Money | |||||||||||||||
Options | |||||||||||||||||
(In thousands, except share and per share data) | |||||||||||||||||
Options outstanding at beginning of period | 581,913 | $ | 24.32 | 8.6 years | $ | 2,168 | (1) | ||||||||||
Options granted | 28,000 | $ | 20.57 | 10.0 years | |||||||||||||
Options exercised | (687 | ) | $ | 12.54 | 8.2 years | ||||||||||||
Options forfeited | (1,876 | ) | $ | 12.54 | 8.2 years | ||||||||||||
Options expired | (2,875 | ) | $ | 109.71 | 3.3 years | ||||||||||||
Options outstanding at end of period | 604,475 | $ | 23.79 | 8.5 years | $ | 2,188 | (2) | ||||||||||
Options exercisable at end of period | 194,757 | $ | 37.21 | 7.2 years | $ | 871 | (2) | ||||||||||
(1) | Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was $21.08 as of June 30, 2014, over the exercise price, multiplied by the number of options. | ||||||||||||||||
(2) | Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was $20.16 as of September 30, 2014, over the exercise price, multiplied by the number of options. | ||||||||||||||||
The table below provides stock option information for the nine months ended September 30, 2014: | |||||||||||||||||
Number of | Weighted- | Weighted | Aggregate | ||||||||||||||
Shares | Average | Average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value of | |||||||||||||||
Price Per | Contractual | In-the- | |||||||||||||||
Share | Life | Money | |||||||||||||||
Options | |||||||||||||||||
(In thousands, except share and per share data) | |||||||||||||||||
Options outstanding at beginning of period | 546,595 | $ | 28.09 | 8.4 years | $ | 3,384 | (1) | ||||||||||
Options granted | 133,000 | $ | 21.6 | 9.7 years | |||||||||||||
Options exercised | (34,382 | ) | $ | 12.54 | 7.9 years | ||||||||||||
Options forfeited | (9,751 | ) | $ | 12.54 | 8.2 years | ||||||||||||
Options expired | (30,987 | ) | $ | 106.26 | .5 years | ||||||||||||
Options outstanding at end of period | 604,475 | $ | 23.79 | 8.5 years | $ | 2,188 | (2) | ||||||||||
Options exercisable at end of period | 194,757 | $ | 37.21 | 7.2 years | $ | 871 | (2) | ||||||||||
(1) | Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was $21.89 as of December 31, 2013, over the exercise price, multiplied by the number of options. | ||||||||||||||||
(2) | Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was $20.16 as of September 30, 2014, over the exercise price, multiplied by the number of options. | ||||||||||||||||
Schedule of Restricted Stock Awards under 2013 Plan | ' | ||||||||||||||||
The table below provides information for restricted stock awards for the three and nine months ended September 30, 2014: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
Number of | Weighted- | Number of | Weighted- | ||||||||||||||
Shares | Average | Shares | Average | ||||||||||||||
Grant Date | Grant Date | ||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||
Per Share | Per Share | ||||||||||||||||
Restricted stock at beginning of period | 166,332 | $ | 18.46 | 116,082 | $ | 16.43 | |||||||||||
Restricted stock granted | 32,720 | $ | 20.86 | 99,068 | $ | 21.93 | |||||||||||
Restricted stock vested | (36,331 | ) | $ | 16.46 | (51,429 | ) | $ | 17.53 | |||||||||
Restricted stock forfeited | — | $ | — | (1,000 | ) | $ | 22.25 | ||||||||||
Restricted stock at end of period | 162,721 | $ | 19.39 | 162,721 | $ | 19.39 | |||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||||||||||
Reconciliation of Components Used to Derive Basic and Diluted EPS | ' | ||||||||||||||||||||||||
The following table is a reconciliation of the components used to derive basic and diluted EPS for the periods indicated: | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
(Numerator) | (Denominator) | (Numerator) | (Denominator) | ||||||||||||||||||||||
Net | Weighted- | Per | Net | Weighted- | Per | ||||||||||||||||||||
Income | Average | Share | Income | Average | Share | ||||||||||||||||||||
Shares | Amount | Shares | Amount | ||||||||||||||||||||||
(In thousands, except share and per share data) | |||||||||||||||||||||||||
Three months ended September 30: | |||||||||||||||||||||||||
Basic EPS | |||||||||||||||||||||||||
Income from continuing operations, net of taxes | $ | 13,264 | 31,708,581 | $ | 0.42 | $ | 10,315 | 31,621,049 | $ | 0.33 | |||||||||||||||
Income from discontinued operations, net of taxes | — | 31,708,581 | — | 70 | 31,621,049 | — | |||||||||||||||||||
Basic EPS | $ | 13,264 | 31,708,581 | $ | 0.42 | $ | 10,385 | 31,621,049 | $ | 0.33 | |||||||||||||||
Effect of dilutive securities - options, warrants and unvested restricted stock | — | 292,838 | — | — | 111,955 | — | |||||||||||||||||||
Diluted EPS | |||||||||||||||||||||||||
Income from continuing operations, net of taxes | $ | 13,264 | 32,001,419 | $ | 0.41 | $ | 10,315 | 31,733,004 | $ | 0.33 | |||||||||||||||
Income from discontinued operations, net of taxes | — | 32,001,419 | — | 70 | 31,733,004 | — | |||||||||||||||||||
Diluted EPS | $ | 13,264 | 32,001,419 | $ | 0.41 | $ | 10,385 | 31,733,004 | $ | 0.33 | |||||||||||||||
Nine months ended September 30: | |||||||||||||||||||||||||
Basic EPS | |||||||||||||||||||||||||
Income from continuing operations, net of taxes | $ | 35,764 | 31,683,288 | $ | 1.13 | $ | 29,769 | 31,583,897 | $ | 0.94 | |||||||||||||||
(Loss) income from discontinued operations, net of taxes | (444 | ) | 31,683,288 | (0.02 | ) | 161 | 31,583,897 | 0.01 | |||||||||||||||||
Basic EPS | $ | 35,320 | 31,683,288 | $ | 1.11 | $ | 29,930 | 31,583,897 | $ | 0.95 | |||||||||||||||
Effect of dilutive securities - options, warrants and unvested restricted stock | — | 284,588 | — | — | 68,898 | — | |||||||||||||||||||
Diluted EPS | |||||||||||||||||||||||||
Income from continuing operations, net of taxes | $ | 35,764 | 31,967,876 | $ | 1.12 | $ | 29,769 | 31,652,795 | $ | 0.94 | |||||||||||||||
(Loss) income from discontinued operations, net of taxes | (444 | ) | 31,967,876 | (0.02 | ) | 161 | 31,652,795 | 0.01 | |||||||||||||||||
Diluted EPS | $ | 35,320 | 31,967,876 | $ | 1.1 | $ | 29,930 | 31,652,795 | $ | 0.95 | |||||||||||||||
OffBalance_Sheet_Commitments_T
Off-Balance Sheet Commitments (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Risks and Uncertainties [Abstract] | ' | ||||||||
Distribution of Undisbursed Loan Commitments | ' | ||||||||
The following table shows the distribution of undisbursed loan commitments as of the dates indicated: | |||||||||
September 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
(In thousands) | |||||||||
Commitments to extend credit | $ | 327,381 | $ | 246,161 | |||||
Standby letters of credit | 9,140 | 8,926 | |||||||
Commercial letters of credit | 3,877 | 4,179 | |||||||
Unused credit card lines | — | 12,223 | |||||||
Total undisbursed loan commitments | $ | 340,398 | $ | 271,489 | |||||
Acquisition_Additional_Informa
Acquisition - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Aug. 31, 2014 | |
Branches | |||||
Loans At Acquisition Date [Line Items] | ' | ' | ' | ' | ' |
Number of branch locations | ' | ' | 49 | ' | ' |
Bargain purchase gain on acquisition | ' | $6,593,000 | $6,593,000 | ' | ' |
Merger and integration expense | ' | 3,415,000 | 3,572,000 | ' | ' |
Core deposit intangible | ' | ' | ' | ' | 2,213,000 |
Core deposit intangible, useful life | '10 years | ' | ' | ' | ' |
Amortization expense of core deposit intangible | ' | 33,000 | 33,000 | 123,000 | ' |
Certificates of deposit | ' | ' | ' | ' | 11,300,000 |
Amortization of certificates of deposit | ' | 591,000 | ' | ' | ' |
Discount on subordinated debentures | ' | ' | ' | ' | 8,300,000 |
Amortization of subordinated debentures | ' | 35,000 | 36,000 | ' | ' |
Central Bancorp, Inc [Member] | ' | ' | ' | ' | ' |
Loans At Acquisition Date [Line Items] | ' | ' | ' | ' | ' |
Consideration paid for redemption of preferred stock and cumulative unpaid dividends | 28,675,000 | ' | ' | ' | ' |
Common stock, price per share after acquisition | ' | ' | ' | ' | $17.64 |
Consideration paid | 50,000,000 | ' | ' | ' | ' |
Total assets acquired | ' | ' | ' | ' | 1,255,929,000 |
Total liabilities assumed | ' | ' | ' | ' | 1,169,095,000 |
Total identifiable net assets | ' | ' | ' | ' | 86,834,000 |
Loans | ' | ' | ' | ' | 294,032,000 |
Total deposits | ' | ' | ' | ' | 1,098,997,000 |
Number of branch locations | ' | ' | 23 | ' | ' |
Bargain purchase gain on acquisition | 6,593,000 | ' | ' | ' | ' |
Merger and integration expense | ' | ' | 3,572,000 | ' | ' |
Core deposit intangible | ' | ' | ' | ' | 2,213,000 |
Subordinated Debentures [Member] | Central Bancorp, Inc [Member] | ' | ' | ' | ' | ' |
Loans At Acquisition Date [Line Items] | ' | ' | ' | ' | ' |
Consideration paid for accrued interest on subordinated debentures | 1,566,000 | ' | ' | ' | ' |
Discount on subordinated debentures | ' | 8,300,000 | 8,300,000 | ' | ' |
Amortization of subordinated debentures | ' | $35,000 | ' | ' | ' |
Acquisition_Summarized_of_Cons
Acquisition - Summarized of Consideration Paid, Assets Acquired and Liabilities Assumed (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Aug. 31, 2014 | Aug. 31, 2014 | Aug. 31, 2014 | Aug. 31, 2014 |
Central Bancorp, Inc [Member] | Central Bancorp, Inc [Member] | Central Bancorp, Inc [Member] | ||||
Subordinated Debentures [Member] | ||||||
Loans At Acquisition Date [Line Items] | ' | ' | ' | ' | ' | ' |
CBI Stockholders | ' | ' | ' | $50,000 | ' | ' |
Redemption of preferred stock and cumulative unpaid dividends | ' | ' | ' | 28,675 | ' | ' |
Accrued interest on subordinated debentures | ' | ' | ' | ' | ' | 1,566 |
Total consideration paid: | ' | ' | ' | 80,241 | ' | ' |
Assets acquired: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' | 197,209 | ' |
Securities available for sale | ' | ' | ' | ' | 663,497 | ' |
Loans | ' | ' | ' | ' | 294,032 | ' |
Premises and equipment | ' | ' | ' | ' | 17,735 | ' |
Other real estate owned | ' | ' | ' | ' | 28,027 | ' |
Income tax assets, net | ' | ' | ' | ' | 8,800 | ' |
Core deposit intangible | ' | ' | 2,213 | ' | 2,213 | ' |
FDIC loss sharing assets | ' | ' | ' | ' | 9,692 | ' |
Bank-owned life insurance | ' | ' | ' | ' | 18,296 | ' |
Other assets | ' | ' | ' | ' | 16,428 | ' |
Total assets acquired | ' | ' | ' | ' | 1,255,929 | ' |
Liabilities assumed: | ' | ' | ' | ' | ' | ' |
Deposits | ' | ' | ' | ' | 1,098,997 | ' |
Subordinated debentures | ' | ' | ' | ' | 18,473 | ' |
Rescinded stock obligation | ' | ' | ' | ' | 15,720 | ' |
FHLB advances | ' | ' | ' | ' | 10,000 | ' |
Other liabilities | ' | ' | ' | ' | 25,905 | ' |
Total liabilities assumed | ' | ' | ' | ' | 1,169,095 | ' |
Total identifiable net assets | ' | ' | ' | ' | 86,834 | ' |
Bargain purchase gain, net of deferred taxes | $6,593 | $6,593 | ' | $6,593 | ' | ' |
Acquisition_Summary_Of_Accreta
Acquisition - Summary Of Accretable Yield On Purchased Credit Impaired Loans Acquired (Detail) (USD $) | Aug. 31, 2014 |
In Thousands, unless otherwise specified | |
Receivables [Abstract] | ' |
Undiscounted contractual cash flows | $117,301 |
Nonaccretable discount | -18,565 |
Undiscounted cash flow to be collected | 98,736 |
Estimated fair value of PCI loans | 75,878 |
Accretable yield | $22,858 |
Acquisition_Business_Acquisiti
Acquisition - Business Acquisition, Unaudited Proforma Result of Operation Information (Detail) (Central Bancorp, Inc [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Central Bancorp, Inc [Member] | ' | ' | ' | ' |
Loans At Acquisition Date [Line Items] | ' | ' | ' | ' |
Pro forma revenues (net interest income plus noninterest income) | $62,427 | $55,727 | $170,923 | $182,135 |
Pro forma net income from continuing operations | $18,359 | $12,826 | $43,546 | $47,201 |
Pro forma earnings per share from continuing operations: | ' | ' | ' | ' |
Basic | $0.58 | $0.41 | $1.37 | $1.49 |
Diluted | $0.57 | $0.40 | $1.36 | $1.49 |
Accounting_for_Investments_in_2
Accounting for Investments in Qualified Affordable Housing Projects - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Jan. 01, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Adjusted Earnings Before Interest Taxes Depreciation And Amortization And Other Non Cash Items [Abstract] | ' | ' | ' | ' | ' | ' |
Cumulative effect of retrospective application of accounting principle | $1,100,000 | ' | ' | ' | ' | ' |
Increased in net income | ' | ' | 135,000 | ' | 51,000 | ' |
Impairment of investments | ' | ' | ' | 0 | ' | 0 |
Investment in low income housing | ' | 21,800,000 | ' | 21,800,000 | ' | 3,000,000 |
Unfunded commitments on low income housing | ' | 12,600,000 | ' | 12,600,000 | ' | 0 |
Income tax expense | ' | 592,000 | ' | 1,000,000 | ' | ' |
Tax credit and other benefit received from tax expenses | ' | $821,000 | ' | $1,400,000 | ' | ' |
Accounting_for_Investments_in_3
Accounting for Investments in Qualified Affordable Housing Projects - Summary of Change in Accounting Principle on Balance Sheets (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Assets | ' | ' | ' | ' |
Cash and cash equivalents | $197,016 | $179,357 | $193,854 | $268,047 |
Available-for-Sale, Estimated Fair Value | 1,128,624 | 530,926 | ' | ' |
Loans receivable | 2,628,091 | 2,177,498 | ' | ' |
Income tax assets | 72,330 | 63,841 | ' | ' |
Other assets | ' | 102,757 | ' | ' |
Total assets | 4,228,332 | 3,054,379 | ' | ' |
Liabilities and Stockholders' Equity | ' | ' | ' | ' |
Liabilities | 3,793,138 | 2,654,302 | ' | ' |
Stockholders' equity | 435,194 | 400,077 | 388,725 | 378,364 |
Total liabilities and stockholders' equity | 4,228,332 | 3,054,379 | ' | ' |
As Previously Reported [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | ' | 179,357 | 193,854 | 268,047 |
Available-for-Sale, Estimated Fair Value | ' | 530,926 | ' | ' |
Loans receivable | ' | 2,177,498 | ' | ' |
Income tax assets | ' | 63,536 | ' | ' |
Other assets | ' | 104,222 | ' | ' |
Total assets | ' | 3,055,539 | ' | ' |
Liabilities and Stockholders' Equity | ' | ' | ' | ' |
Liabilities | ' | 2,654,302 | ' | ' |
Stockholders' equity | ' | 401,237 | ' | ' |
Total liabilities and stockholders' equity | ' | 3,055,539 | ' | ' |
Effect of Change in Accounting Principle [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Income tax assets | ' | 305 | ' | ' |
Other assets | ' | -1,465 | ' | ' |
Total assets | ' | -1,160 | ' | ' |
Liabilities and Stockholders' Equity | ' | ' | ' | ' |
Stockholders' equity | ' | -1,160 | ' | ' |
Total liabilities and stockholders' equity | ' | ($1,160) | ' | ' |
Accounting_for_Investments_in_4
Accounting for Investments in Qualified Affordable Housing Projects - Summary of Change in Accounting Principle on Statements of Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Interest and dividend income | $34,149 | $31,627 | $96,552 | $91,401 |
Interest expense | 3,475 | 3,153 | 9,929 | 10,169 |
Net interest income | 30,674 | 28,474 | 86,623 | 81,232 |
Noninterest income | 14,321 | 6,059 | 25,237 | 19,945 |
Noninterest expense | 26,763 | 17,636 | 63,595 | 53,898 |
Income before provision for income taxes | 18,232 | 16,897 | 55,431 | 47,279 |
Provision for income taxes | 4,968 | 6,582 | 19,667 | 17,510 |
Income from continuing operations | 13,264 | 10,315 | 35,764 | 29,769 |
Earnings per share from continuing operations | ' | ' | ' | ' |
Basic | $0.42 | $0.33 | $1.13 | $0.94 |
Diluted | $0.41 | $0.33 | $1.12 | $0.94 |
As Previously Reported [Member] | ' | ' | ' | ' |
Interest and dividend income | ' | 31,627 | ' | 91,401 |
Interest expense | ' | 3,153 | ' | 10,169 |
Net interest income | ' | 28,474 | ' | 81,232 |
Noninterest income | ' | 6,059 | ' | 19,945 |
Noninterest expense | ' | 17,811 | ' | 54,451 |
Income before provision for income taxes | ' | 16,722 | ' | 46,726 |
Provision for income taxes | ' | 6,542 | ' | 17,008 |
Income from continuing operations | ' | 10,180 | ' | 29,718 |
Earnings per share from continuing operations | ' | ' | ' | ' |
Basic | ' | $0.32 | ' | $0.94 |
Diluted | ' | $0.32 | ' | $0.94 |
Effect of Change in Accounting Principle [Member] | ' | ' | ' | ' |
Noninterest expense | ' | -175 | ' | -553 |
Income before provision for income taxes | ' | 175 | ' | 553 |
Provision for income taxes | ' | 40 | ' | 502 |
Income from continuing operations | ' | $135 | ' | $51 |
Earnings per share from continuing operations | ' | ' | ' | ' |
Basic | ' | $0.01 | ' | ' |
Diluted | ' | $0.01 | ' | ' |
Accounting_for_Investments_in_5
Accounting for Investments in Qualified Affordable Housing Projects - Summary of Change in Accounting Principle on Statements of Cash Flows (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 |
As Previously Reported [Member] | As Previously Reported [Member] | Effect of Change in Accounting Principle [Member] | |||||
Cash flows from operating activities: | ' | ' | ' | ' | ' | ' | ' |
Net income | $13,264 | $10,385 | $35,320 | $29,930 | $29,879 | ' | $51 |
Total adjustment in net income | ' | ' | ' | 18,047 | 18,098 | ' | -51 |
Net cash provided by operating activities | ' | ' | 24,705 | 47,977 | 47,977 | ' | ' |
Cash flows from investing activities: | ' | ' | ' | ' | ' | ' | ' |
Net cash used in investing activities | ' | ' | 37,704 | -71,768 | -71,768 | ' | ' |
Cash flows from financing activities: | ' | ' | ' | ' | ' | ' | ' |
Net cash used in financing activities | ' | ' | -44,750 | -50,402 | -50,402 | ' | ' |
Net decrease in cash and cash equivalents | ' | ' | 17,659 | -74,193 | -74,193 | ' | ' |
Cash and cash equivalents at beginning of year | ' | ' | 179,357 | 268,047 | 268,047 | 179,357 | ' |
Cash and cash equivalents at end of period | $197,016 | $193,854 | $197,016 | $193,854 | $193,854 | $179,357 | ' |
Sale_of_Insurance_Subsidiaries2
Sale of Insurance Subsidiaries and Discontinued Operations - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 6 Months Ended | ||||
Sep. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2014 | |
Chun Ha and All World To Chunha Holdings Corporation [Member] | Discontinued operations [Member] | Discontinued operations [Member] | ||||||
Installment | ||||||||
Subsidiary | ||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Total sale price | ' | ' | ' | ' | ' | $3,500,000 | ' | ' |
Sale consideration received | ' | ' | ' | ' | ' | 2,000,000 | ' | ' |
Reduction by cash and cash equivalents included in net assets | ' | ' | ' | ' | ' | 1,600,000 | ' | ' |
Net proceeds from sales of subsidiaries | ' | ' | ' | 398,000 | ' | 398,000 | ' | ' |
Consideration due | ' | ' | ' | ' | ' | 1,500,000 | ' | ' |
Discontinued operations held for sale, Description | ' | ' | ' | ' | ' | 'The total sales price was $3.5 million, of which $2.0 million was paid upon signing. The $2.0 million was reduced by $1.6 million cash and cash equivalents included in net assets of Chun-Ha and All World, resulting in $398,000 net cash proceeds. The remaining $1.5 million will be payable in three equal installments on each anniversary of the closing date through June 30, 2017. | ' | ' |
Number of installments payable | ' | ' | ' | ' | ' | 3 | ' | ' |
Number of subsidiaries sold | ' | ' | ' | ' | ' | 2 | ' | ' |
Net loss from discontinued operations | ' | 467,000 | -70,000 | 444,000 | -161,000 | ' | ' | ' |
Income from discontinued operation per diluted share | ' | $0.01 | ' | ($0.02) | $0.01 | ' | ' | ' |
Gain on disposal | ' | ' | ' | 51,000 | ' | ' | ' | ' |
Income tax benefit from operating loss | ' | ' | ' | 4,000 | ' | ' | ' | ' |
Capital gain tax | ' | ' | ' | 470,000 | ' | ' | ' | ' |
Operating loss | ' | -52,000 | 112,000 | -14,000 | 242,000 | ' | ' | ' |
Noninterest income | 14,321,000 | ' | 6,059,000 | 25,237,000 | 19,945,000 | ' | 1,300,000 | 2,700,000 |
Noninterest expense | $26,763,000 | ' | $17,636,000 | $63,595,000 | $53,898,000 | ' | $1,400,000 | $2,700,000 |
Sale_of_Insurance_Subsidiaries3
Sale of Insurance Subsidiaries and Discontinued Operations - Summarized Financial Information of Discontinued Operations (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Discontinued Operations and Disposal Groups [Abstract] | ' | ' | ' | ' | ' |
Cash and cash equivalents | $1,602 | ' | ' | ' | $1,396 |
Premises and equipment, net | 90 | ' | ' | ' | 79 |
Other intangible assets, net | 1,089 | ' | ' | ' | 1,171 |
Other assets | 2,855 | ' | ' | ' | 3,298 |
Total assets | 5,636 | ' | ' | ' | 5,944 |
Income tax payable | 415 | ' | ' | ' | 1,304 |
Accrued expenses and other liabilities | 1,878 | ' | ' | ' | 2,171 |
Total liabilities | 2,293 | ' | ' | ' | 3,475 |
Net assets of discontinued operations | 3,343 | ' | ' | ' | 2,469 |
Non-interest (loss) income | -52 | 112 | -14 | 242 | ' |
Gain on disposal | ' | ' | 51 | ' | ' |
Income before taxes | ' | 112 | 37 | 242 | ' |
Provision for income taxes | ' | 42 | 481 | 81 | ' |
Net income (loss) from discontinued operations | ($467) | $70 | ($444) | $161 | ' |
Investment_Securities_Summary_
Investment Securities - Summary of Investment Securities Available for Sale (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $1,139,173 | $549,113 |
Gross Unrealized Gain | 686 | 782 |
Gross Unrealized Loss | 11,235 | 18,969 |
Estimated Fair Value | 1,128,624 | 530,926 |
Collateralized mortgage obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 197,784 | 130,636 |
Gross Unrealized Gain | 146 | 274 |
Gross Unrealized Loss | 1,719 | 3,217 |
Estimated Fair Value | 196,211 | 127,693 |
Municipal bonds-tax exempt [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 4,335 | 13,857 |
Gross Unrealized Gain | 94 | 110 |
Gross Unrealized Loss | ' | 30 |
Estimated Fair Value | 4,429 | 13,937 |
Municipal bonds-taxable [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 16,666 | 33,361 |
Gross Unrealized Gain | 141 | 73 |
Gross Unrealized Loss | 147 | 1,080 |
Estimated Fair Value | 16,660 | 32,354 |
Corporate bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 17,018 | 21,013 |
Gross Unrealized Gain | 11 | 8 |
Gross Unrealized Loss | 89 | 186 |
Estimated Fair Value | 16,940 | 20,835 |
Mortgage-backed securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 588,638 | 222,768 |
Gross Unrealized Gain | 230 | 317 |
Gross Unrealized Loss | 4,711 | 6,026 |
Estimated Fair Value | 584,157 | 217,059 |
U.S. government agency securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 176,449 | 90,852 |
Gross Unrealized Loss | 3,656 | 7,316 |
Estimated Fair Value | 172,793 | 83,536 |
SBA loan pool securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 114,753 | 13,598 |
Gross Unrealized Gain | 64 | ' |
Gross Unrealized Loss | 700 | 969 |
Estimated Fair Value | 114,117 | 12,629 |
U.S. treasury securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 164 | 19,998 |
Gross Unrealized Loss | 1 | 1 |
Estimated Fair Value | 163 | 19,997 |
Other securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 22,916 | 3,030 |
Gross Unrealized Loss | 212 | 144 |
Estimated Fair Value | 22,704 | 2,886 |
Equity security [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 450 | ' |
Estimated Fair Value | $450 | ' |
Investment_Securities_Addition
Investment Securities - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Investment Securities [Line Items] | ' | ' | ' | ' | ' |
Other-than-temporary impairment charge | ' | ' | $0 | ' | $0 |
Impairment charges on securities in continuous unrealized loss position for 12 months or longer | 0 | ' | 0 | ' | 0 |
Net realized gain (loss) on redemption or sale of investment securities | 67,000 | 611,000 | 1,852,000 | 923,000 | ' |
Recognized in earnings resulting from the redemption of investment securities | 23,000 | 899,000 | 498,000 | 2,400,000 | ' |
Investment securities available-for-sale, carrying values | 1,128,624,000 | ' | 1,128,624,000 | ' | 530,926,000 |
Collateralized mortgage obligations [Member] | ' | ' | ' | ' | ' |
Investment Securities [Line Items] | ' | ' | ' | ' | ' |
Investment securities available-for-sale, carrying values | 196,211,000 | ' | 196,211,000 | ' | 127,693,000 |
Mortgage-backed securities [Member] | ' | ' | ' | ' | ' |
Investment Securities [Line Items] | ' | ' | ' | ' | ' |
Investment securities available-for-sale, carrying values | 584,157,000 | ' | 584,157,000 | ' | 217,059,000 |
Mortgage-backed securities [Member] | Collateralized mortgage obligations [Member] | ' | ' | ' | ' | ' |
Investment Securities [Line Items] | ' | ' | ' | ' | ' |
contractual maturities | ' | ' | '2064 | ' | ' |
Securities Pledged as Collateral [Member] | ' | ' | ' | ' | ' |
Investment Securities [Line Items] | ' | ' | ' | ' | ' |
Investment securities available-for-sale, carrying values | $79,900,000 | ' | $79,900,000 | ' | $47,600,000 |
Investment_Securities_Schedule
Investment Securities - Schedule of Amortized Cost and Estimated Fair Value of Investment Securities by Contractual Maturity (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Summary of Investment Holdings [Line Items] | ' | ' |
Available-for-Sale Within one year, Amortized Cost | $15,702 | ' |
Available-for-Sale Over one year through five years, Amortized Cost | 73,633 | ' |
Available-for-Sale Over five years through ten years, Amortized Cost | 139,745 | ' |
Available-for-Sale Over ten years, Amortized Cost | 100,305 | ' |
Available-for-Sale, Amortized Cost | 1,139,173 | 549,113 |
Available-for-Sale Within one year, Estimated Fair Value | 15,721 | ' |
Available-for-Sale Over one year through five years, Estimated Fair Value | 73,247 | ' |
Available-for-Sale Over five years through ten years, Estimated Fair Value | 136,900 | ' |
Available-for-Sale Over ten years, Estimated Fair Value | 99,234 | ' |
Available-for-Sale, Estimated Fair Value | 1,128,624 | 530,926 |
Collateralized mortgage obligations [Member] | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' |
Available-for-Sale, Amortized Cost | 197,784 | 130,636 |
Available-for-Sale, Estimated Fair Value | 196,211 | 127,693 |
Mortgage-backed securities [Member] | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' |
Available-for-Sale, Amortized Cost | 588,638 | 222,768 |
Available-for-Sale, Estimated Fair Value | 584,157 | 217,059 |
Other securities [Member] | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' |
Available-for-Sale, Amortized Cost | 22,916 | 3,030 |
Available-for-Sale, Estimated Fair Value | 22,704 | 2,886 |
Equity security [Member] | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' |
Available-for-Sale, Amortized Cost | 450 | ' |
Available-for-Sale, Estimated Fair Value | $450 | ' |
Investment_Securities_Availabl
Investment Securities - Available for Sale Securities, Continuous Unrealized Loss Position, Fair value (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Security | Security |
Summary of Investment Holdings [Line Items] | ' | ' |
Available-for-Sale Within One Year, Gross Unrealized Loss | $4,546 | $10,607 |
Available-for-Sale Within One Year, Estimated Fair Value | 763,346 | 366,638 |
Available-for-Sale Within One Year, Number of Securities | 144 | 124 |
Available-for-Sale More than One Year, Gross Unrealized Loss | 6,689 | 8,362 |
Available-for-Sale More than One Year, Estimated Fair Value | 181,462 | 107,384 |
Available-for-Sale More than One Year, Number of Securities | 73 | 45 |
Available-for-Sale, Gross Unrealized Loss | 11,235 | 18,969 |
Available-for-Sale, Estimated Fair Value | 944,808 | 474,022 |
Available-for-Sale, Number of Securities | 217 | 169 |
Municipal bonds-taxable [Member] | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' |
Available-for-Sale Within One Year, Gross Unrealized Loss | 9 | 787 |
Available-for-Sale Within One Year, Estimated Fair Value | 2,238 | 22,817 |
Available-for-Sale Within One Year, Number of Securities | 2 | 16 |
Available-for-Sale More than One Year, Gross Unrealized Loss | 138 | 293 |
Available-for-Sale More than One Year, Estimated Fair Value | 5,511 | 3,813 |
Available-for-Sale More than One Year, Number of Securities | 5 | 4 |
Available-for-Sale, Gross Unrealized Loss | 147 | 1,080 |
Available-for-Sale, Estimated Fair Value | 7,749 | 26,630 |
Available-for-Sale, Number of Securities | 7 | 20 |
U.S. treasury securities [Member] | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' |
Available-for-Sale Within One Year, Gross Unrealized Loss | 1 | 1 |
Available-for-Sale Within One Year, Estimated Fair Value | 163 | 19,996 |
Available-for-Sale Within One Year, Number of Securities | 1 | 2 |
Available-for-Sale More than One Year, Number of Securities | ' | ' |
Available-for-Sale, Gross Unrealized Loss | 1 | 1 |
Available-for-Sale, Estimated Fair Value | 163 | 19,996 |
Available-for-Sale, Number of Securities | 1 | 2 |
Municipal bonds-tax exempt [Member] | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' |
Available-for-Sale Within One Year, Gross Unrealized Loss | ' | 30 |
Available-for-Sale Within One Year, Estimated Fair Value | ' | 8,562 |
Available-for-Sale Within One Year, Number of Securities | ' | 5 |
Available-for-Sale More than One Year, Number of Securities | ' | ' |
Available-for-Sale, Gross Unrealized Loss | ' | 30 |
Available-for-Sale, Estimated Fair Value | ' | 8,562 |
Available-for-Sale, Number of Securities | ' | 5 |
Collateralized mortgage obligations [Member] | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' |
Available-for-Sale Within One Year, Gross Unrealized Loss | 914 | 2,353 |
Available-for-Sale Within One Year, Estimated Fair Value | 145,816 | 87,026 |
Available-for-Sale Within One Year, Number of Securities | 30 | 27 |
Available-for-Sale More than One Year, Gross Unrealized Loss | 805 | 864 |
Available-for-Sale More than One Year, Estimated Fair Value | 21,188 | 14,657 |
Available-for-Sale More than One Year, Number of Securities | 9 | 7 |
Available-for-Sale, Gross Unrealized Loss | 1,719 | 3,217 |
Available-for-Sale, Estimated Fair Value | 167,004 | 101,683 |
Available-for-Sale, Number of Securities | 39 | 34 |
Mortgage-backed securities [Member] | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' |
Available-for-Sale Within One Year, Gross Unrealized Loss | 2,947 | 3,437 |
Available-for-Sale Within One Year, Estimated Fair Value | 422,318 | 170,324 |
Available-for-Sale Within One Year, Number of Securities | 73 | 51 |
Available-for-Sale More than One Year, Gross Unrealized Loss | 1,764 | 2,589 |
Available-for-Sale More than One Year, Estimated Fair Value | 60,057 | 30,947 |
Available-for-Sale More than One Year, Number of Securities | 22 | 12 |
Available-for-Sale, Gross Unrealized Loss | 4,711 | 6,026 |
Available-for-Sale, Estimated Fair Value | 482,375 | 201,271 |
Available-for-Sale, Number of Securities | 95 | 63 |
U.S. government agency securities [Member] | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' |
Available-for-Sale Within One Year, Gross Unrealized Loss | 537 | 3,942 |
Available-for-Sale Within One Year, Estimated Fair Value | 85,948 | 50,932 |
Available-for-Sale Within One Year, Number of Securities | 22 | 19 |
Available-for-Sale More than One Year, Gross Unrealized Loss | 3,119 | 3,374 |
Available-for-Sale More than One Year, Estimated Fair Value | 71,843 | 32,606 |
Available-for-Sale More than One Year, Number of Securities | 26 | 12 |
Available-for-Sale, Gross Unrealized Loss | 3,656 | 7,316 |
Available-for-Sale, Estimated Fair Value | 157,791 | 83,538 |
Available-for-Sale, Number of Securities | 48 | 31 |
SBA loan pool securities [Member] | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' |
Available-for-Sale Within One Year, Gross Unrealized Loss | 27 | ' |
Available-for-Sale Within One Year, Estimated Fair Value | 87,088 | ' |
Available-for-Sale Within One Year, Number of Securities | 15 | ' |
Available-for-Sale More than One Year, Gross Unrealized Loss | 673 | 969 |
Available-for-Sale More than One Year, Estimated Fair Value | 12,037 | 12,629 |
Available-for-Sale More than One Year, Number of Securities | 4 | 4 |
Available-for-Sale, Gross Unrealized Loss | 700 | 969 |
Available-for-Sale, Estimated Fair Value | 99,125 | 12,629 |
Available-for-Sale, Number of Securities | 19 | 4 |
Corporate bonds [Member] | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' |
Available-for-Sale Within One Year, Gross Unrealized Loss | ' | 9 |
Available-for-Sale Within One Year, Estimated Fair Value | ' | 5,024 |
Available-for-Sale Within One Year, Number of Securities | ' | 1 |
Available-for-Sale More than One Year, Gross Unrealized Loss | 89 | 177 |
Available-for-Sale More than One Year, Estimated Fair Value | 7,902 | 11,803 |
Available-for-Sale More than One Year, Number of Securities | 2 | 3 |
Available-for-Sale, Gross Unrealized Loss | 89 | 186 |
Available-for-Sale, Estimated Fair Value | 7,902 | 16,827 |
Available-for-Sale, Number of Securities | 2 | 4 |
Other securities [Member] | ' | ' |
Summary of Investment Holdings [Line Items] | ' | ' |
Available-for-Sale Within One Year, Gross Unrealized Loss | 111 | 48 |
Available-for-Sale Within One Year, Estimated Fair Value | 19,775 | 1,957 |
Available-for-Sale Within One Year, Number of Securities | 1 | 3 |
Available-for-Sale More than One Year, Gross Unrealized Loss | 101 | 96 |
Available-for-Sale More than One Year, Estimated Fair Value | 2,924 | 929 |
Available-for-Sale More than One Year, Number of Securities | 5 | 3 |
Available-for-Sale, Gross Unrealized Loss | 212 | 144 |
Available-for-Sale, Estimated Fair Value | $22,699 | $2,886 |
Available-for-Sale, Number of Securities | 6 | 6 |
Investment_Securities_Realized
Investment Securities - Realized Gains and Losses on Sales of Investment Securities (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Amortized Cost and Fair Value Debt Securities [Abstract] | ' | ' | ' | ' |
Gross realized gains on sales of investment securities | $67 | $619 | $1,853 | $932 |
Gross realized losses on sales of investment securities | ' | -8 | -1 | -9 |
Net realized gains on sales of investment securities | 67 | 611 | 1,852 | 923 |
Proceeds from sales of investment securities | $9,778 | $26,661 | $140,855 | $51,425 |
Loans_Loans_Receivable_Detail
Loans - Loans Receivable (Detail) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | $2,675,959 | ' | ' | $2,159,271 | ' | ' |
Allowance for loans losses | -51,179 | -51,886 | -57,555 | -57,639 | -59,876 | -63,305 |
Deferred loan costs | 3,311 | ' | ' | ' | ' | ' |
Loans receivable, net | 2,628,091 | ' | 2,177,498 | ' | ' | ' |
Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 2,411,154 | ' | ' | 1,921,659 | ' | ' |
Allowance for loans losses | -39,891 | -40,303 | -43,550 | -45,225 | -46,396 | -49,472 |
Commercial and industrial loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 235,898 | ' | ' | 203,547 | ' | ' |
Allowance for loans losses | -9,864 | -9,738 | -11,287 | -8,668 | -11,118 | -10,636 |
Consumer loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 28,907 | ' | ' | 34,065 | ' | ' |
Allowance for loans losses | -324 | -540 | -1,427 | -1,639 | -1,884 | -2,280 |
Non-PCI Loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 2,608,935 | ' | 2,234,089 | ' | ' | ' |
Allowance for loans losses | -51,179 | ' | -57,555 | ' | ' | ' |
Deferred loan costs | 3,311 | ' | 964 | ' | ' | ' |
Loans receivable, net | 2,561,067 | ' | 2,177,498 | ' | ' | ' |
Non-PCI Loans [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 2,344,538 | ' | 1,969,798 | ' | ' | ' |
Non-PCI Loans [Member] | Commercial and industrial loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 235,548 | ' | 231,786 | ' | ' | ' |
Non-PCI Loans [Member] | Consumer loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 28,849 | ' | 32,505 | ' | ' | ' |
PCI Loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 67,024 | ' | ' | ' | ' | ' |
Loans receivable, net | 67,024 | ' | ' | ' | ' | ' |
PCI Loans [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 66,616 | ' | ' | ' | ' | ' |
PCI Loans [Member] | Commercial and industrial loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 350 | ' | ' | ' | ' | ' |
PCI Loans [Member] | Consumer loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 58 | ' | ' | ' | ' | ' |
Retail [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 651,801 | ' | ' | ' | ' | ' |
Retail [Member] | Non-PCI Loans [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 635,861 | ' | 543,619 | ' | ' | ' |
Retail [Member] | PCI Loans [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 15,940 | ' | ' | ' | ' | ' |
Hotel/Motel [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 466,611 | ' | ' | ' | ' | ' |
Hotel/Motel [Member] | Non-PCI Loans [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 452,405 | ' | 322,927 | ' | ' | ' |
Hotel/Motel [Member] | PCI Loans [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 14,206 | ' | ' | ' | ' | ' |
Gas station [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 358,455 | ' | ' | ' | ' | ' |
Gas station [Member] | Non-PCI Loans [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 340,386 | ' | 292,557 | ' | ' | ' |
Gas station [Member] | PCI Loans [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 18,069 | ' | ' | ' | ' | ' |
Other [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 821,411 | ' | ' | ' | ' | ' |
Other [Member] | Non-PCI Loans [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 805,696 | ' | 731,617 | ' | ' | ' |
Other [Member] | PCI Loans [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 15,715 | ' | ' | ' | ' | ' |
Construction [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 4,146 | ' | ' | ' | ' | ' |
Construction [Member] | Non-PCI Loans [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 4,146 | ' | ' | ' | ' | ' |
Residential property [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 108,730 | ' | ' | ' | ' | ' |
Residential property [Member] | Non-PCI Loans [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 106,044 | ' | 79,078 | ' | ' | ' |
Residential property [Member] | PCI Loans [Member] | Real estate loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 2,686 | ' | ' | ' | ' | ' |
Commercial term [Member] | Commercial and industrial loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 119,525 | ' | ' | ' | ' | ' |
Commercial term [Member] | Non-PCI Loans [Member] | Commercial and industrial loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 119,175 | ' | 124,391 | ' | ' | ' |
Commercial term [Member] | PCI Loans [Member] | Commercial and industrial loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 350 | ' | ' | ' | ' | ' |
Commercial lines of credit [Member] | Commercial and industrial loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 75,246 | ' | ' | ' | ' | ' |
Commercial lines of credit [Member] | Non-PCI Loans [Member] | Commercial and industrial loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 75,246 | ' | 71,042 | ' | ' | ' |
International loans [Member] | Commercial and industrial loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | 41,127 | ' | ' | ' | ' | ' |
International loans [Member] | Non-PCI Loans [Member] | Commercial and industrial loans [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | $41,127 | ' | $36,353 | ' | ' | ' |
Loans_Loans_Receivable_Parenth
Loans - Loans Receivable (Parenthetical) (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Real estate loans [Member] | Real estate loans [Member] | Commercial property [Member] | Commercial property [Member] | ||
Owner occupied real estate [Member] | Owner occupied real estate [Member] | |||||
Real estate loans [Member] | Real estate loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Total gross loans | $2,675,959 | $2,159,271 | $2,411,154 | $1,921,659 | $1,100,000 | $957,300 |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Property | Property | Property | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Accrued interest receivable | $9,880,000 | ' | $9,880,000 | ' | $7,055,000 |
Loans receivable | 2,628,091,000 | ' | 2,628,091,000 | ' | 2,177,498,000 |
Loans receivable reclassified as loans held for sale | 0 | 0 | 0 | 8,010,000 | ' |
Sale of loans held for sale | 14,268,000 | 11,906,000 | 26,986,000 | 71,626,000 | ' |
Allowance for off-balance sheet items | 1,500,000 | 1,300,000 | 1,500,000 | 1,300,000 | ' |
Loans on non-accrual status | 24,003,000 | ' | 24,003,000 | ' | 25,877,000 |
Percentage decrease in loans on non-accrual status, excluding loans held for sale | ' | ' | ' | ' | 7.20% |
Delinquent loans (defined as 30 days or more past due) | 19,200,000 | ' | 19,200,000 | ' | 16,300,000 |
Percentage increase in delinquent loans excluding loans held for sale | ' | ' | ' | ' | 18.20% |
Number of real estate properties | 40 | ' | 40 | ' | 3 |
Other real estate owned, net | 24,781,000 | ' | 24,781,000 | ' | 756,000 |
Net valuation adjustment | ' | ' | 0 | ' | 56,000 |
TDR loans receivable | 26,400,000 | ' | 26,400,000 | ' | 30,000,000 |
Principal and interest due | ' | ' | '6 months | ' | ' |
Reserves relating to loans included in allowance for loan losses | 3,700,000 | ' | 3,700,000 | ' | 2,800,000 |
Net carrying value | 4,576,000 | 3,107,000 | 8,370,000 | 5,189,000 | ' |
Number of loans restructured | 3 | ' | 14 | ' | ' |
Serviced loans sold to unaffiliated parties | 341,600,000 | 330,400,000 | 341,600,000 | 330,400,000 | ' |
Recoveries of previously charged-off and reimbursed Commercial SLA loans which needs to be reimbursed | ' | ' | 80.00% | ' | ' |
FDIC loss sharing asset | 7,696,000 | ' | 7,696,000 | ' | ' |
Single-family loans covered | 3,700,000 | ' | 3,700,000 | ' | ' |
Minimum [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Due period for considering loans as impaired | ' | ' | '90 days | ' | ' |
Central Bancorp, Inc [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Other real estate owned, net | 22,300,000 | ' | 22,300,000 | ' | ' |
Securities Pledged as Collateral [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Loans receivable | 872,200,000 | ' | 872,200,000 | ' | 568,700,000 |
Commercial Properties [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Other real estate owned, net | 20,200,000 | ' | 20,200,000 | ' | ' |
Residential Properties [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Other real estate owned, net | 4,600,000 | ' | 4,600,000 | ' | ' |
Loans and Finance Receivables [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Accrued interest receivable | $5,800,000 | ' | $5,800,000 | ' | $5,400,000 |
Loans_Loans_Receivable_to_Loan
Loans - Loans Receivable to Loans Held for Sale (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | $3,842 | $2,553 | ' | $8,306 |
Origination of loans held for sale | 18,229 | 17,135 | 34,798 | 63,112 |
Reclassification from loans receivable to loans held for sale | ' | ' | ' | 8,009 |
Reclassification from loans held for sale to loans receivable | ' | -2,534 | ' | -2,534 |
Sales of loans held for sale | -14,268 | -11,906 | -26,986 | -71,626 |
Principal payoffs and amortization | -46 | -20 | -55 | -39 |
Balance at end of period | 7,757 | 5,228 | 7,757 | 5,228 |
Real estate loans [Member] | ' | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | 2,568 | 2,137 | ' | 7,977 |
Origination of loans held for sale | 15,198 | 15,634 | 29,591 | 58,725 |
Reclassification from loans receivable to loans held for sale | ' | ' | ' | 7,593 |
Reclassification from loans held for sale to loans receivable | ' | -2,118 | ' | -2,118 |
Sales of loans held for sale | -12,135 | -10,725 | -23,953 | -67,235 |
Principal payoffs and amortization | -20 | -20 | -27 | -34 |
Balance at end of period | 5,611 | 4,908 | 5,611 | 4,908 |
Commercial and industrial loans [Member] | ' | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | 1,274 | 416 | ' | 329 |
Origination of loans held for sale | 3,031 | 1,501 | 5,207 | 4,387 |
Reclassification from loans receivable to loans held for sale | ' | ' | ' | 416 |
Reclassification from loans held for sale to loans receivable | ' | -416 | ' | -416 |
Sales of loans held for sale | -2,133 | -1,181 | -3,033 | -4,391 |
Principal payoffs and amortization | -26 | ' | -28 | -5 |
Balance at end of period | $2,146 | $320 | $2,146 | $320 |
Loans_Allowance_for_Loan_Losse
Loans - Allowance for Loan Losses and Allowance for Off-Balance Sheet Items (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | $51,886 | $59,876 | $57,555 | $63,305 |
Charge-offs | -1,418 | -4,610 | -5,569 | -11,124 |
Recoveries on loans previously charged off | 663 | 2,383 | 6,656 | 4,964 |
(Negative provision) provision charged to operating expense | -48 | 10 | 7,463 | -494 |
Balance at end of period | 51,179 | 57,639 | 51,179 | 57,639 |
Allowance for loan losses [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | 51,886 | 59,876 | 57,555 | 63,305 |
Charge-offs | -1,418 | -4,610 | -5,569 | -11,124 |
Recoveries on loans previously charged off | 663 | 2,383 | 6,656 | 4,964 |
Net loan (charge-offs) recoveries | -755 | -2,227 | 1,087 | -6,160 |
(Negative provision) provision charged to operating expense | 48 | -10 | -7,463 | 494 |
Balance at end of period | 51,179 | 57,639 | 51,179 | 57,639 |
Allowance for off-balance sheet items [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | 1,592 | 1,320 | 1,247 | 1,824 |
(Negative provision) provision charged to operating expense | -48 | 10 | 297 | -494 |
Balance at end of period | $1,544 | $1,330 | $1,544 | $1,330 |
Loans_Allowance_for_Loan_Losse1
Loans - Allowance for Loan Losses by Portfolio Segment (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Allowance for loan losses: | ' | ' | ' | ' |
Balance at beginning of period | $51,886 | $59,876 | $57,555 | $63,305 |
Charge-offs | -1,418 | -4,610 | -5,569 | -11,124 |
Recoveries on loans previously charged off | 663 | 2,383 | 6,656 | 4,964 |
Provision (negative provision) | 48 | -10 | -7,463 | 494 |
Balance at end of period | 51,179 | 57,639 | 51,179 | 57,639 |
Loans receivable: | ' | ' | ' | ' |
Balance at end of period | 2,675,959 | 2,159,271 | 2,675,959 | 2,159,271 |
Allowance for Loans and Leases Receivable [Member] | ' | ' | ' | ' |
Loans receivable: | ' | ' | ' | ' |
Ending balance: individually evaluated for impairment | 5,784 | 2,369 | 5,784 | 2,369 |
Ending balance: collectively evaluated for impairment | 45,395 | 55,270 | 45,395 | 55,270 |
Loans [Member] | ' | ' | ' | ' |
Loans receivable: | ' | ' | ' | ' |
Ending balance: individually evaluated for impairment | 49,382 | 43,466 | 49,382 | 43,466 |
Ending balance: collectively evaluated for impairment | 2,559,553 | 2,115,805 | 2,559,553 | 2,115,805 |
Ending balance: acquired with deteriorated credit quality | 67,024 | ' | 67,024 | ' |
Real estate loans [Member] | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Balance at beginning of period | 40,303 | 46,396 | 43,550 | 49,472 |
Charge-offs | -884 | -1,017 | -2,073 | -4,592 |
Recoveries on loans previously charged off | 293 | 1,641 | 3,298 | 2,923 |
Provision (negative provision) | 179 | -1,795 | -4,884 | -2,578 |
Balance at end of period | 39,891 | 45,225 | 39,891 | 45,225 |
Loans receivable: | ' | ' | ' | ' |
Balance at end of period | 2,411,154 | 1,921,659 | 2,411,154 | 1,921,659 |
Real estate loans [Member] | Allowance for Loans and Leases Receivable [Member] | ' | ' | ' | ' |
Loans receivable: | ' | ' | ' | ' |
Ending balance: individually evaluated for impairment | 2,027 | 564 | 2,027 | 564 |
Ending balance: collectively evaluated for impairment | 37,864 | 44,661 | 37,864 | 44,661 |
Real estate loans [Member] | Loans [Member] | ' | ' | ' | ' |
Loans receivable: | ' | ' | ' | ' |
Ending balance: individually evaluated for impairment | 35,654 | 29,424 | 35,654 | 29,424 |
Ending balance: collectively evaluated for impairment | 2,308,884 | 1,892,235 | 2,308,884 | 1,892,235 |
Ending balance: acquired with deteriorated credit quality | 66,616 | ' | 66,616 | ' |
Commercial and industrial loans [Member] | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Balance at beginning of period | 9,738 | 11,118 | 11,287 | 10,636 |
Charge-offs | -499 | -3,575 | -3,394 | -6,314 |
Recoveries on loans previously charged off | 365 | 737 | 3,338 | 1,981 |
Provision (negative provision) | 260 | 388 | -1,367 | 2,365 |
Balance at end of period | 9,864 | 8,668 | 9,864 | 8,668 |
Loans receivable: | ' | ' | ' | ' |
Balance at end of period | 235,898 | 203,547 | 235,898 | 203,547 |
Commercial and industrial loans [Member] | Allowance for Loans and Leases Receivable [Member] | ' | ' | ' | ' |
Loans receivable: | ' | ' | ' | ' |
Ending balance: individually evaluated for impairment | 3,757 | 1,475 | 3,757 | 1,475 |
Ending balance: collectively evaluated for impairment | 6,107 | 7,193 | 6,107 | 7,193 |
Commercial and industrial loans [Member] | Loans [Member] | ' | ' | ' | ' |
Loans receivable: | ' | ' | ' | ' |
Ending balance: individually evaluated for impairment | 11,970 | 12,468 | 11,970 | 12,468 |
Ending balance: collectively evaluated for impairment | 223,578 | 191,079 | 223,578 | 191,079 |
Ending balance: acquired with deteriorated credit quality | 350 | ' | 350 | ' |
Consumer loans [Member] | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Balance at beginning of period | 540 | 1,884 | 1,427 | 2,280 |
Charge-offs | -35 | -18 | -102 | -218 |
Recoveries on loans previously charged off | 5 | 5 | 20 | 60 |
Provision (negative provision) | -186 | -232 | -1,021 | -483 |
Balance at end of period | 324 | 1,639 | 324 | 1,639 |
Loans receivable: | ' | ' | ' | ' |
Balance at end of period | 28,907 | 34,065 | 28,907 | 34,065 |
Consumer loans [Member] | Allowance for Loans and Leases Receivable [Member] | ' | ' | ' | ' |
Loans receivable: | ' | ' | ' | ' |
Ending balance: individually evaluated for impairment | ' | 330 | ' | 330 |
Ending balance: collectively evaluated for impairment | 324 | 1,309 | 324 | 1,309 |
Consumer loans [Member] | Loans [Member] | ' | ' | ' | ' |
Loans receivable: | ' | ' | ' | ' |
Ending balance: individually evaluated for impairment | 1,758 | 1,574 | 1,758 | 1,574 |
Ending balance: collectively evaluated for impairment | 27,091 | 32,491 | 27,091 | 32,491 |
Ending balance: acquired with deteriorated credit quality | 58 | ' | 58 | ' |
Unallocated [Member] | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' |
Balance at beginning of period | 1,305 | 478 | 1,291 | 917 |
Provision (negative provision) | -205 | 1,629 | -191 | 1,190 |
Balance at end of period | 1,100 | 2,107 | 1,100 | 2,107 |
Unallocated [Member] | Allowance for Loans and Leases Receivable [Member] | ' | ' | ' | ' |
Loans receivable: | ' | ' | ' | ' |
Ending balance: collectively evaluated for impairment | $1,100 | $2,107 | $1,100 | $2,107 |
Loans_Credit_Quality_of_Loan_P
Loans - Credit Quality of Loan Portfolio (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Consumer loans [Member] | Consumer loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | Non-PCI Loans [Member] | ||
Retail [Member] | Hotel/Motel [Member] | Gas station [Member] | Other [Member] | Construction [Member] | Residential property [Member] | Commercial term [Member] | Commercial lines of credit [Member] | International loans [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Criticized (Grade 5) [Member] | Criticized (Grade 5) [Member] | Classified (Grade 6-7) [Member] | Classified (Grade 6-7) [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Real estate loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Commercial and industrial loans [Member] | Consumer loans [Member] | Consumer loans [Member] | Consumer loans [Member] | Consumer loans [Member] | Consumer loans [Member] | Consumer loans [Member] | Consumer loans [Member] | Consumer loans [Member] | |||||||||||
Retail [Member] | Retail [Member] | Hotel/Motel [Member] | Hotel/Motel [Member] | Gas station [Member] | Gas station [Member] | Other [Member] | Other [Member] | Construction [Member] | Residential property [Member] | Residential property [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Criticized (Grade 5) [Member] | Criticized (Grade 5) [Member] | Criticized (Grade 5) [Member] | Criticized (Grade 5) [Member] | Criticized (Grade 5) [Member] | Criticized (Grade 5) [Member] | Criticized (Grade 5) [Member] | Criticized (Grade 5) [Member] | Criticized (Grade 5) [Member] | Classified (Grade 6-7) [Member] | Classified (Grade 6-7) [Member] | Classified (Grade 6-7) [Member] | Classified (Grade 6-7) [Member] | Classified (Grade 6-7) [Member] | Classified (Grade 6-7) [Member] | Classified (Grade 6-7) [Member] | Classified (Grade 6-7) [Member] | Classified (Grade 6-7) [Member] | Classified (Grade 6-7) [Member] | Commercial term [Member] | Commercial term [Member] | Commercial lines of credit [Member] | Commercial lines of credit [Member] | International loans [Member] | International loans [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Criticized (Grade 5) [Member] | Criticized (Grade 5) [Member] | Criticized (Grade 5) [Member] | Classified (Grade 6-7) [Member] | Classified (Grade 6-7) [Member] | Classified (Grade 6-7) [Member] | Classified (Grade 6-7) [Member] | Classified (Grade 6-7) [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Pass/Pass-Watch (Grade 0-4) [Member] | Criticized (Grade 5) [Member] | Criticized (Grade 5) [Member] | Classified (Grade 6-7) [Member] | Classified (Grade 6-7) [Member] | ||||||||||||||||||||||||||||||||
Retail [Member] | Retail [Member] | Hotel/Motel [Member] | Hotel/Motel [Member] | Gas station [Member] | Gas station [Member] | Other [Member] | Other [Member] | Construction [Member] | Residential property [Member] | Residential property [Member] | Retail [Member] | Retail [Member] | Hotel/Motel [Member] | Hotel/Motel [Member] | Gas station [Member] | Gas station [Member] | Other [Member] | Other [Member] | Residential property [Member] | Retail [Member] | Retail [Member] | Hotel/Motel [Member] | Hotel/Motel [Member] | Gas station [Member] | Gas station [Member] | Other [Member] | Other [Member] | Residential property [Member] | Residential property [Member] | Commercial term [Member] | Commercial term [Member] | Commercial lines of credit [Member] | Commercial lines of credit [Member] | International loans [Member] | International loans [Member] | Commercial term [Member] | Commercial term [Member] | International loans [Member] | Commercial term [Member] | Commercial term [Member] | Commercial lines of credit [Member] | Commercial lines of credit [Member] | International loans [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Non-PCI loans | $2,675,959 | $2,159,271 | $2,411,154 | $1,921,659 | $651,801 | $466,611 | $358,455 | $821,411 | $4,146 | $108,730 | $235,898 | $203,547 | $119,525 | $75,246 | $41,127 | $28,907 | $34,065 | $2,608,935 | $2,234,089 | $2,476,872 | $2,130,392 | $87,046 | $21,479 | $45,017 | $82,218 | $2,344,538 | $1,969,798 | $635,861 | $543,619 | $452,405 | $322,927 | $340,386 | $292,557 | $805,696 | $731,617 | $4,146 | $106,044 | $79,078 | $620,511 | $531,014 | $399,006 | $308,483 | $320,501 | $279,636 | $780,400 | $690,481 | $4,146 | $103,812 | $77,422 | $12,821 | $5,309 | $48,995 | $1,796 | $10,054 | $3,104 | $13,599 | $8,524 | $122 | $2,529 | $7,296 | $4,404 | $12,648 | $9,831 | $9,817 | $11,697 | $32,612 | $2,110 | $1,656 | $235,548 | $231,786 | $119,175 | $124,391 | $75,246 | $71,042 | $41,127 | $36,353 | $108,908 | $107,712 | $74,286 | $69,823 | $38,676 | $35,777 | $1,315 | $2,007 | $576 | $8,952 | $14,672 | $960 | $1,219 | $2,451 | $28,849 | $32,505 | $26,626 | $30,044 | $140 | $163 | $2,083 | $2,298 |
Loans_Analysis_of_Past_Due_Loa
Loans - Analysis of Past Due Loans, Disaggregated by Loan Class (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Past Due | $19,200 | $16,300 | ' |
Total Loans | 2,675,959 | ' | 2,159,271 |
Accruing 90 Days or More Past Due | 15 | ' | ' |
Real estate loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 2,411,154 | ' | 1,921,659 |
Real estate loans [Member] | Hotel/Motel [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 466,611 | ' | ' |
Real estate loans [Member] | Gas station [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 358,455 | ' | ' |
Real estate loans [Member] | Construction [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 4,146 | ' | ' |
Real estate loans [Member] | Residential property [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 108,730 | ' | ' |
Commercial and industrial loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 235,898 | ' | 203,547 |
Commercial and industrial loans [Member] | Commercial term [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 119,525 | ' | ' |
Commercial and industrial loans [Member] | Commercial lines of credit [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 75,246 | ' | ' |
Commercial and industrial loans [Member] | International loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 41,127 | ' | ' |
Consumer loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 28,907 | ' | 34,065 |
Non-PCI Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 10,675 | 3,607 | ' |
60-89 Days Past Due | 2,645 | 4,072 | ' |
90 Days or More Past Due | 5,916 | 8,595 | ' |
Total Past Due | 19,236 | 16,274 | ' |
Current | 2,589,699 | 2,217,815 | ' |
Total Loans | 2,608,935 | 2,234,089 | ' |
Accruing 90 Days or More Past Due | 15 | ' | ' |
Non-PCI Loans [Member] | Real estate loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 2,344,538 | 1,969,798 | ' |
Non-PCI Loans [Member] | Real estate loans [Member] | Commercial Real Estate Retails [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 1,927 | 202 | ' |
60-89 Days Past Due | 146 | 426 | ' |
90 Days or More Past Due | 182 | 2,196 | ' |
Total Past Due | 2,255 | 2,824 | ' |
Current | 633,606 | 540,794 | ' |
Total Loans | 635,861 | 543,618 | ' |
Non-PCI Loans [Member] | Real estate loans [Member] | Hotel/Motel [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 52 | 1,087 | ' |
60-89 Days Past Due | 733 | ' | ' |
90 Days or More Past Due | 1,203 | 1,532 | ' |
Total Past Due | 1,988 | 2,619 | ' |
Current | 450,417 | 320,308 | ' |
Total Loans | 452,405 | 322,927 | ' |
Non-PCI Loans [Member] | Real estate loans [Member] | Gas station [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 4,781 | 141 | ' |
60-89 Days Past Due | 794 | 410 | ' |
90 Days or More Past Due | 544 | 153 | ' |
Total Past Due | 6,119 | 704 | ' |
Current | 334,267 | 291,853 | ' |
Total Loans | 340,386 | 292,557 | ' |
Non-PCI Loans [Member] | Real estate loans [Member] | Commercial Real Estate Others [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 1,867 | 423 | ' |
60-89 Days Past Due | 67 | 2,036 | ' |
90 Days or More Past Due | 380 | 839 | ' |
Total Past Due | 2,314 | 3,298 | ' |
Current | 803,382 | 728,320 | ' |
Total Loans | 805,696 | 731,618 | ' |
Accruing 90 Days or More Past Due | 15 | ' | ' |
Non-PCI Loans [Member] | Real estate loans [Member] | Construction [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Current | 4,146 | ' | ' |
Total Loans | 4,146 | ' | ' |
Non-PCI Loans [Member] | Real estate loans [Member] | Residential property [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 113 | ' | ' |
60-89 Days Past Due | 121 | 122 | ' |
90 Days or More Past Due | 486 | 279 | ' |
Total Past Due | 720 | 401 | ' |
Current | 105,324 | 78,677 | ' |
Total Loans | 106,044 | 79,078 | ' |
Non-PCI Loans [Member] | Commercial and industrial loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Total Loans | 235,548 | 231,786 | ' |
Non-PCI Loans [Member] | Commercial and industrial loans [Member] | Commercial term [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 1,410 | 1,443 | ' |
60-89 Days Past Due | 587 | 886 | ' |
90 Days or More Past Due | 2,873 | 3,269 | ' |
Total Past Due | 4,870 | 5,598 | ' |
Current | 114,305 | 118,793 | ' |
Total Loans | 119,175 | 124,391 | ' |
Non-PCI Loans [Member] | Commercial and industrial loans [Member] | Commercial lines of credit [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 274 | ' | ' |
60-89 Days Past Due | 197 | 150 | ' |
90 Days or More Past Due | ' | 250 | ' |
Total Past Due | 471 | 400 | ' |
Current | 74,775 | 70,642 | ' |
Total Loans | 75,246 | 71,042 | ' |
Non-PCI Loans [Member] | Commercial and industrial loans [Member] | International loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 251 | ' | ' |
Total Past Due | 251 | ' | ' |
Current | 40,876 | 36,353 | ' |
Total Loans | 41,127 | 36,353 | ' |
Non-PCI Loans [Member] | Consumer loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | ' | 311 | ' |
60-89 Days Past Due | ' | 42 | ' |
90 Days or More Past Due | 248 | 77 | ' |
Total Past Due | 248 | 430 | ' |
Current | 28,601 | 32,075 | ' |
Total Loans | $28,849 | $32,505 | ' |
Loans_Information_on_Impaired_
Loans - Information on Impaired Loans, Disaggregated by Loan Class (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | $49,382 | ' | $49,382 | ' | $53,066 |
Unpaid Principal Balance | 53,069 | ' | 53,069 | ' | 56,563 |
With No Related Allowance Recorded | 38,177 | ' | 38,177 | ' | 33,292 |
With an Allowance Recorded | 11,205 | ' | 11,205 | ' | 19,774 |
Related Allowance | 5,784 | ' | 5,784 | ' | 6,468 |
Average Recorded Investment | 49,827 | 43,767 | 49,632 | 46,622 | ' |
Interest Income Recognized | 796 | 900 | 2,353 | 2,722 | ' |
Real estate loans [Member] | Retail [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 4,443 | ' | 4,443 | ' | 6,244 |
Unpaid Principal Balance | 4,543 | ' | 4,543 | ' | 6,332 |
With No Related Allowance Recorded | 1,940 | ' | 1,940 | ' | 3,767 |
With an Allowance Recorded | 2,503 | ' | 2,503 | ' | 2,477 |
Related Allowance | 256 | ' | 256 | ' | 305 |
Average Recorded Investment | 4,456 | 2,723 | 5,682 | 3,703 | ' |
Interest Income Recognized | 36 | 27 | 215 | 105 | ' |
Real estate loans [Member] | Hotel/Motel [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 4,042 | ' | 4,042 | ' | 6,200 |
Unpaid Principal Balance | 4,855 | ' | 4,855 | ' | 6,940 |
With No Related Allowance Recorded | 4,042 | ' | 4,042 | ' | 4,668 |
With an Allowance Recorded | ' | ' | ' | ' | 1,532 |
Related Allowance | 1,261 | ' | 1,261 | ' | 1,183 |
Average Recorded Investment | 4,206 | 6,377 | 4,149 | 4,752 | ' |
Interest Income Recognized | 102 | 127 | 232 | 384 | ' |
Real estate loans [Member] | Gas station [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 14,152 | ' | 14,152 | ' | 9,389 |
Unpaid Principal Balance | 14,681 | ' | 14,681 | ' | 9,884 |
With No Related Allowance Recorded | 13,692 | ' | 13,692 | ' | 8,592 |
With an Allowance Recorded | 460 | ' | 460 | ' | 797 |
Related Allowance | 166 | ' | 166 | ' | 209 |
Average Recorded Investment | 14,181 | 8,777 | 12,023 | 8,775 | ' |
Interest Income Recognized | 218 | 229 | 587 | 569 | ' |
Real estate loans [Member] | Other [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 9,856 | ' | 9,856 | ' | 11,451 |
Unpaid Principal Balance | 11,266 | ' | 11,266 | ' | 12,882 |
With No Related Allowance Recorded | 8,518 | ' | 8,518 | ' | 9,555 |
With an Allowance Recorded | 1,338 | ' | 1,338 | ' | 1,896 |
Related Allowance | 344 | ' | 344 | ' | 351 |
Average Recorded Investment | 9,898 | 8,699 | 10,716 | 9,512 | ' |
Interest Income Recognized | 232 | 243 | 682 | 779 | ' |
Real estate loans [Member] | Residential property [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 3,161 | ' | 3,161 | ' | 2,678 |
Unpaid Principal Balance | 3,292 | ' | 3,292 | ' | 2,773 |
With No Related Allowance Recorded | 3,161 | ' | 3,161 | ' | 2,678 |
Average Recorded Investment | 3,173 | 2,992 | 2,853 | 3,026 | ' |
Interest Income Recognized | 30 | 33 | 87 | 92 | ' |
Commercial and industrial loans [Member] | Commercial term [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 7,958 | ' | 7,958 | ' | 13,834 |
Unpaid Principal Balance | 8,408 | ' | 8,408 | ' | 14,308 |
With No Related Allowance Recorded | 1,914 | ' | 1,914 | ' | 2,929 |
With an Allowance Recorded | 6,044 | ' | 6,044 | ' | 10,905 |
Related Allowance | 3,469 | ' | 3,469 | ' | 3,806 |
Average Recorded Investment | 8,118 | 10,581 | 10,007 | 12,751 | ' |
Interest Income Recognized | 126 | 191 | 443 | 692 | ' |
Commercial and industrial loans [Member] | Commercial lines of credit [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 2,874 | ' | 2,874 | ' | 614 |
Unpaid Principal Balance | 2,976 | ' | 2,976 | ' | 686 |
With No Related Allowance Recorded | 2,692 | ' | 2,692 | ' | 173 |
With an Allowance Recorded | 182 | ' | 182 | ' | 441 |
Related Allowance | 183 | ' | 183 | ' | 252 |
Average Recorded Investment | 2,884 | 840 | 1,447 | 1,137 | ' |
Interest Income Recognized | 36 | 23 | 61 | 47 | ' |
Commercial and industrial loans [Member] | International loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 1,138 | ' | 1,138 | ' | 1,087 |
Unpaid Principal Balance | 1,138 | ' | 1,138 | ' | 1,087 |
With No Related Allowance Recorded | 460 | ' | 460 | ' | 286 |
With an Allowance Recorded | 678 | ' | 678 | ' | 801 |
Related Allowance | 105 | ' | 105 | ' | 78 |
Average Recorded Investment | 1,146 | 1,197 | 1,136 | 1,342 | ' |
Consumer loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' |
Recorded Investment | 1,758 | ' | 1,758 | ' | 1,569 |
Unpaid Principal Balance | 1,910 | ' | 1,910 | ' | 1,671 |
With No Related Allowance Recorded | 1,758 | ' | 1,758 | ' | 644 |
With an Allowance Recorded | ' | ' | ' | ' | 925 |
Related Allowance | ' | ' | ' | ' | 284 |
Average Recorded Investment | 1,765 | 1,581 | 1,619 | 1,624 | ' |
Interest Income Recognized | $16 | $27 | $46 | $54 | ' |
Loans_Summary_of_Interest_Fore
Loans - Summary of Interest Foregone on Impaired Loans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Receivables [Abstract] | ' | ' | ' | ' |
Interest income that would have been recognized had impaired loans performed in accordance with their original terms | $1,063 | $1,058 | $3,490 | $3,183 |
Less: Interest income recognized on impaired loans | -796 | -900 | -2,353 | -2,722 |
Interest foregone on impaired loans | $267 | $158 | $1,137 | $461 |
Loans_NonAccrual_Loans_Disaggr
Loans - Non-Accrual Loans, Disaggregated by Loan Class (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total non-accrual Non-PCI loans | $24,003 | $25,877 |
Real estate loans [Member] | Retail [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total non-accrual Non-PCI loans | 2,062 | 2,946 |
Real estate loans [Member] | Hotel/Motel [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total non-accrual Non-PCI loans | 3,051 | 5,200 |
Real estate loans [Member] | Gas station [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total non-accrual Non-PCI loans | 5,208 | 2,492 |
Real estate loans [Member] | Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total non-accrual Non-PCI loans | 3,674 | 4,808 |
Real estate loans [Member] | Residential property [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total non-accrual Non-PCI loans | 1,516 | 1,365 |
Commercial and industrial loans [Member] | Commercial term [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total non-accrual Non-PCI loans | 6,060 | 7,146 |
Commercial and industrial loans [Member] | Commercial lines of credit [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total non-accrual Non-PCI loans | 674 | 423 |
Consumer loans [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Total non-accrual Non-PCI loans | $1,758 | $1,497 |
Loans_NonPerforming_Assets_Det
Loans - Non-Performing Assets (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Receivables [Abstract] | ' | ' |
Non-accrual Non-PCI loans | $24,003 | $25,877 |
Loans 90 days or more past due and still accruing | 15 | ' |
Total non-performing loans | 24,018 | 25,877 |
Other real estate owned | 24,781 | 756 |
Total non-performing assets | $48,799 | $26,633 |
Loans_Troubled_Debt_Restructur
Loans - Troubled Debt Restructurings, Disaggregated by Type of Concession and by Loan Type (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Modifications [Line Items] | ' | ' |
Non-Accrual TDRs, Deferral of Principal | $3,367 | $3,786 |
Non-Accrual TDRs, Deferral of Principal and Interest | 2,261 | 2,243 |
Non-Accrual TDRs, Reduction of Principal and Interest | 1,923 | 2,733 |
Non-Accrual TDRs, Extension of Maturity | 3,610 | 1,774 |
Non-Accrual TDRs, Total | 11,161 | 10,536 |
Accrual TDRs, Deferral of Principal | 9,220 | 5,524 |
Accrual TDRs, Deferral of Principal and Interest | 227 | ' |
Accrual TDRs, Reduction of Principal and Interest | 2,910 | 4,966 |
Accrual TDRs, Extension of Maturity | 2,865 | 8,927 |
Accrual TDRs | 15,222 | 19,417 |
Consumer loans [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Non-Accrual TDRs, Reduction of Principal and Interest | 135 | ' |
Non-Accrual TDRs, Total | 135 | ' |
Accrual TDRs, Reduction of Principal and Interest | ' | 149 |
Accrual TDRs | ' | 149 |
Real estate loans [Member] | Retail [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Non-Accrual TDRs, Extension of Maturity | 1,856 | 750 |
Non-Accrual TDRs, Total | 1,856 | 750 |
Accrual TDRs, Deferral of Principal | 307 | ' |
Accrual TDRs, Extension of Maturity | ' | 474 |
Accrual TDRs | 307 | 474 |
Real estate loans [Member] | Hotel/Motel [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Non-Accrual TDRs, Deferral of Principal | 1,158 | 1,272 |
Non-Accrual TDRs, Deferral of Principal and Interest | 727 | 758 |
Non-Accrual TDRs, Total | 1,885 | 2,030 |
Accrual TDRs, Deferral of Principal | 991 | 1,000 |
Accrual TDRs | 991 | 1,000 |
Real estate loans [Member] | Gas station [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Non-Accrual TDRs, Deferral of Principal | 1,106 | 1,291 |
Non-Accrual TDRs, Reduction of Principal and Interest | ' | 729 |
Non-Accrual TDRs, Total | 1,106 | 2,020 |
Accrual TDRs, Deferral of Principal | 2,351 | 365 |
Accrual TDRs, Extension of Maturity | ' | 2,609 |
Accrual TDRs | 2,351 | 2,974 |
Real estate loans [Member] | Other [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Non-Accrual TDRs, Deferral of Principal | ' | 403 |
Non-Accrual TDRs, Deferral of Principal and Interest | 1,532 | 1,279 |
Non-Accrual TDRs, Reduction of Principal and Interest | 465 | 555 |
Non-Accrual TDRs, Extension of Maturity | 59 | ' |
Non-Accrual TDRs, Total | 2,056 | 2,237 |
Accrual TDRs, Deferral of Principal | 3,310 | 2,956 |
Accrual TDRs, Reduction of Principal and Interest | 792 | 1,253 |
Accrual TDRs, Extension of Maturity | 1,378 | 2,027 |
Accrual TDRs | 5,480 | 6,236 |
Real estate loans [Member] | Residential property [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Non-Accrual TDRs, Deferral of Principal | 755 | 795 |
Non-Accrual TDRs, Total | 755 | 795 |
Accrual TDRs, Extension of Maturity | 311 | ' |
Accrual TDRs | 311 | ' |
Commercial and industrial loans [Member] | Commercial term [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Non-Accrual TDRs, Deferral of Principal | 118 | 25 |
Non-Accrual TDRs, Deferral of Principal and Interest | 2 | 206 |
Non-Accrual TDRs, Reduction of Principal and Interest | 1,007 | 1,449 |
Non-Accrual TDRs, Extension of Maturity | 1,567 | 851 |
Non-Accrual TDRs, Total | 2,694 | 2,531 |
Accrual TDRs, Deferral of Principal | 61 | 1,203 |
Accrual TDRs, Deferral of Principal and Interest | 227 | ' |
Accrual TDRs, Reduction of Principal and Interest | 2,118 | 2,286 |
Accrual TDRs, Extension of Maturity | 1,176 | 3,817 |
Accrual TDRs | 3,582 | 7,306 |
Commercial and industrial loans [Member] | Commercial lines of credit [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Non-Accrual TDRs, Deferral of Principal | 230 | ' |
Non-Accrual TDRs, Reduction of Principal and Interest | 316 | ' |
Non-Accrual TDRs, Extension of Maturity | 128 | 173 |
Non-Accrual TDRs, Total | 674 | 173 |
Accrual TDRs, Deferral of Principal | 2,200 | ' |
Accrual TDRs, Reduction of Principal and Interest | ' | 191 |
Accrual TDRs | 2,200 | 191 |
Commercial and industrial loans [Member] | International loans [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accrual TDRs, Reduction of Principal and Interest | ' | 1,087 |
Accrual TDRs | ' | $1,087 |
Loans_Troubled_Debt_Restructur1
Loans - Troubled Debt Restructurings, Disaggregated by Loan Class (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
SecurityLoan | SecurityLoan | SecurityLoan | SecurityLoan | |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | 3 | 12 | 14 | 23 |
Pre-Modification Outstanding Recorded Investment | $4,501 | $3,133 | $8,474 | $5,809 |
Post-Modification Outstanding Recorded Investment | 4,576 | 3,107 | 8,370 | 5,189 |
Consumer loans [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | ' | ' | ' | 1 |
Pre-Modification Outstanding Recorded Investment | ' | ' | ' | 149 |
Post-Modification Outstanding Recorded Investment | ' | ' | ' | 149 |
Real estate loans [Member] | Hotel/Motel [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | ' | 1 | ' | 1 |
Pre-Modification Outstanding Recorded Investment | ' | 1,000 | ' | 1,000 |
Post-Modification Outstanding Recorded Investment | ' | 1,000 | ' | 1,000 |
Real estate loans [Member] | Gas station [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | 1 | 1 | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | 2,014 | 107 | 2,040 | 113 |
Post-Modification Outstanding Recorded Investment | 1,991 | 91 | 1,991 | 91 |
Real estate loans [Member] | Other [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | 1 | 2 | ' | ' |
Pre-Modification Outstanding Recorded Investment | 395 | 1,011 | ' | ' |
Post-Modification Outstanding Recorded Investment | 385 | 1,014 | ' | ' |
Real estate loans [Member] | Retail [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | ' | ' | 1 | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' | 2,002 | ' |
Post-Modification Outstanding Recorded Investment | ' | ' | 1,856 | ' |
Real estate loans [Member] | Residential property [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | ' | ' | 1 | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' | 317 | ' |
Post-Modification Outstanding Recorded Investment | ' | ' | 311 | ' |
Real estate loans [Member] | Other [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | ' | ' | 3 | 3 |
Pre-Modification Outstanding Recorded Investment | ' | ' | 1,422 | 1,176 |
Post-Modification Outstanding Recorded Investment | ' | ' | 1,386 | 1,144 |
Commercial and industrial loans [Member] | Commercial term [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | ' | 8 | 5 | 15 |
Pre-Modification Outstanding Recorded Investment | ' | 1,015 | 327 | 1,787 |
Post-Modification Outstanding Recorded Investment | ' | 1,002 | 263 | 1,625 |
Commercial and industrial loans [Member] | Commercial lines of credit [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | 1 | ' | 3 | ' |
Pre-Modification Outstanding Recorded Investment | 2,092 | ' | 2,366 | ' |
Post-Modification Outstanding Recorded Investment | 2,200 | ' | 2,563 | ' |
Commercial and industrial loans [Member] | International loans [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | ' | ' | ' | 2 |
Pre-Modification Outstanding Recorded Investment | ' | ' | ' | 1,584 |
Post-Modification Outstanding Recorded Investment | ' | ' | ' | $1,180 |
Loans_Troubled_Debt_Restructur2
Loans - Troubled Debt Restructurings, Disaggregated by Loan Class (Parenthetical) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Real estate loans [Member] | Hotel/Motel [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Loan modification made through deferrals principal payment | ' | $1,000,000 | ' | ' |
Amount of loan modification through extension of maturity | ' | ' | 1,000,000 | ' |
Real estate loans [Member] | Gas station [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Loan modification made through deferrals principal payment | 2,000,000 | 91,000 | 2,000,000 | 91,000 |
Real estate loans [Member] | Other [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Loan modification made through deferrals principal payment | 385,000 | 365,000 | 1,300,000 | 356,000 |
Loan modifications made through reduction of principal or accrued interest payments | ' | 649,000 | ' | 130,000 |
Amount of loan modification through extension of maturity | ' | ' | 59,000 | 649,000 |
Real estate loans [Member] | Retail [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Amount of loan modification through extension of maturity | ' | ' | 1,900,000 | ' |
Real estate loans [Member] | Residential property [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Amount of loan modification through extension of maturity | ' | ' | 311,000 | ' |
Commercial and industrial loans [Member] | Commercial term [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Loan modification made through deferrals principal payment | 381,000 | ' | 39,000 | 388,000 |
Loan modifications made through reduction of principal or accrued interest payments | ' | ' | 51,000 | ' |
Amount of loan modification through extension of maturity | 621,000 | ' | 173,000 | 1,200,000 |
Commercial and industrial loans [Member] | Commercial lines of credit [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Loan modification made through deferrals principal payment | 2,200,000 | ' | 2,400,000 | ' |
Loan modifications made through reduction of principal or accrued interest payments | ' | ' | 134,000 | ' |
Commercial and industrial loans [Member] | International loans [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Loan modifications made through reduction of principal or accrued interest payments | ' | ' | ' | 1,200,000 |
Commercial and industrial loans [Member] | Consumer loans [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Loan modifications made through reduction of principal or accrued interest payments | ' | ' | ' | $149,000 |
Loans_Troubled_Debt_Restructur3
Loans - Troubled Debt Restructurings that Defaulted Subsequent to Modifications Occurring Within Previous Twelve Months, Disaggregated by Loan Class (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
SecurityLoan | SecurityLoan | SecurityLoan | SecurityLoan | |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | 5 | 1 | 6 | 2 |
Recorded Investment | $2,315 | $130 | $2,449 | $159 |
Real estate loans [Member] | Retail [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | 1 | ' | 1 | ' |
Recorded Investment | 1,856 | ' | 1,856 | ' |
Real estate loans [Member] | Other [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | ' | 1 | ' | 1 |
Recorded Investment | ' | 130 | ' | 130 |
Commercial and industrial loans [Member] | Commercial term [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | 2 | ' | 2 | 1 |
Recorded Investment | 47 | ' | 47 | 29 |
Commercial and industrial loans [Member] | Commercial lines of credit [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Loans | 2 | ' | 3 | ' |
Recorded Investment | $412 | ' | $546 | ' |
Loans_Schedule_of_Changes_in_O
Loans - Schedule of Changes in Outstanding Balance and Carrying Amount of PCI Loans (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 |
In Thousands, unless otherwise specified | PCI Loans [Member] | ||
Carrying Amount | ' | ' | ' |
Balance at beginning of period | $2,675,959 | $2,159,271 | ' |
Additions from CBI acquisition | ' | ' | 75,878 |
Accretion | ' | ' | 491 |
Payment received | ' | ' | -5,892 |
Disposals/transfers to OREO | ' | ' | -3,453 |
Balance at end of period | 2,675,959 | 2,159,271 | 67,024 |
Accretable Yield | ' | ' | ' |
Additions from CBI acquisition | ' | ' | -22,858 |
Accretion | ' | ' | 491 |
Payment received | ' | ' | ' |
Disposals/transfers to OREO | ' | ' | 212 |
Balance at end of period | ' | ' | ($22,155) |
Loans_Credit_Quality_of_PCI_Lo
Loans - Credit Quality of PCI Loan (Detail) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | $2,675,959 | $2,159,271 |
Real estate loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 2,411,154 | 1,921,659 |
Real estate loans [Member] | Retail [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 651,801 | ' |
Real estate loans [Member] | Hotel/Motel [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 466,611 | ' |
Real estate loans [Member] | Gas station [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 358,455 | ' |
Real estate loans [Member] | Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 821,411 | ' |
Real estate loans [Member] | Residential property [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 108,730 | ' |
Commercial and industrial loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 235,898 | 203,547 |
Commercial and industrial loans [Member] | Commercial term [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 119,525 | ' |
Consumer loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 28,907 | 34,065 |
PCI Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 67,024 | ' |
PCI Loans [Member] | Real estate loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 66,616 | ' |
PCI Loans [Member] | Real estate loans [Member] | Retail [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 15,940 | ' |
PCI Loans [Member] | Real estate loans [Member] | Hotel/Motel [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 14,206 | ' |
PCI Loans [Member] | Real estate loans [Member] | Gas station [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 18,069 | ' |
PCI Loans [Member] | Real estate loans [Member] | Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 15,715 | ' |
PCI Loans [Member] | Real estate loans [Member] | Residential property [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 2,686 | ' |
PCI Loans [Member] | Commercial and industrial loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 350 | ' |
PCI Loans [Member] | Commercial and industrial loans [Member] | Commercial term [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 350 | ' |
PCI Loans [Member] | Consumer loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 58 | ' |
Pass/Pass-Watch (Grade 0-4) [Member] | PCI Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 15,541 | ' |
Pass/Pass-Watch (Grade 0-4) [Member] | PCI Loans [Member] | Real estate loans [Member] | Retail [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 2,939 | ' |
Pass/Pass-Watch (Grade 0-4) [Member] | PCI Loans [Member] | Real estate loans [Member] | Hotel/Motel [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 248 | ' |
Pass/Pass-Watch (Grade 0-4) [Member] | PCI Loans [Member] | Real estate loans [Member] | Gas station [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 10,200 | ' |
Pass/Pass-Watch (Grade 0-4) [Member] | PCI Loans [Member] | Real estate loans [Member] | Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 2,154 | ' |
Criticized (Grade 5) [Member] | PCI Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 1,420 | ' |
Criticized (Grade 5) [Member] | PCI Loans [Member] | Real estate loans [Member] | Retail [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 215 | ' |
Criticized (Grade 5) [Member] | PCI Loans [Member] | Real estate loans [Member] | Gas station [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 1,205 | ' |
Classified (Grade 6-7) [Member] | PCI Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 50,063 | ' |
Classified (Grade 6-7) [Member] | PCI Loans [Member] | Real estate loans [Member] | Retail [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 12,786 | ' |
Classified (Grade 6-7) [Member] | PCI Loans [Member] | Real estate loans [Member] | Hotel/Motel [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 13,958 | ' |
Classified (Grade 6-7) [Member] | PCI Loans [Member] | Real estate loans [Member] | Gas station [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 6,664 | ' |
Classified (Grade 6-7) [Member] | PCI Loans [Member] | Real estate loans [Member] | Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 13,561 | ' |
Classified (Grade 6-7) [Member] | PCI Loans [Member] | Real estate loans [Member] | Residential property [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 2,686 | ' |
Classified (Grade 6-7) [Member] | PCI Loans [Member] | Commercial and industrial loans [Member] | Commercial term [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | 350 | ' |
Classified (Grade 6-7) [Member] | PCI Loans [Member] | Consumer loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total PCI loans | $58 | ' |
Loans_Changes_in_Servicing_Ass
Loans - Changes in Servicing Assets (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Transfers and Servicing [Abstract] | ' | ' |
Balance at beginning of period | $6,833 | $5,542 |
Additions from CBI acquisition | 1,458 | ' |
Addition related to sale of SBA loans | 871 | 1,996 |
Amortization | -1,318 | -1,152 |
Balance at end of period | $7,844 | $6,386 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Provision (benefit) for income taxes for continuing operations | $4,968,000 | $6,582,000 | $19,667,000 | $17,510,000 |
Effective income tax rate | 27.25% | 38.95% | 35.48% | 41.42% |
Discrete deferred tax benefit | 400,000 | ' | ' | ' |
Valuation allowance | $0 | ' | $0 | ' |
Income tax years under examination | ' | ' | 'December 31, 2004 through 2013 | ' |
Subordinated_Debentures_and_Re1
Subordinated Debentures and Rescinded Stock Obligation - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2014 | Aug. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2005 | |
Central Bancorp, Inc [Member] | Central Bancorp, Inc [Member] | Central Bancorp, Inc [Member] | ||||
Subordinated Debentures [Member] | Subordinated Debentures [Member] | Subordinated Debentures [Member] | ||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Subordinated debentures, notional amount | ' | ' | ' | $26,800,000 | $26,800,000 | $26,000,000 |
Subordinated debentures | 18,509,000 | 18,509,000 | ' | 18,500,000 | 18,500,000 | ' |
Debt instrument discount | ' | ' | 8,300,000 | 8,300,000 | 8,300,000 | ' |
Fixed interest rate | ' | ' | ' | ' | ' | 6.26% |
Variable interest rate basis | ' | ' | ' | ' | '3 month LIBOR plus 140 basis | ' |
Maturity date of subordinated debentures | ' | ' | ' | ' | 31-Dec-35 | ' |
Frequency of interest payment | ' | ' | ' | ' | 'Quarterly | ' |
Amortization of subordinated debentures | 35,000 | 36,000 | ' | 35,000 | ' | ' |
Rescinded stock obligation | 15,720,000 | 15,720,000 | ' | ' | ' | ' |
Accrued interest payable | 5,100,000 | 5,100,000 | 4,900,000 | ' | ' | ' |
Interest on rescinded stock obligation | $87,000 | $87,000 | ' | ' | ' | ' |
Weighted average interest rate | 6.79% | 6.79% | ' | ' | ' | ' |
Stockholders_Equity_Additional
Stockholders' Equity - Additional Information (Detail) (USD $) | 0 Months Ended | 9 Months Ended |
In Millions, except Share data, unless otherwise specified | Jul. 27, 2010 | Sep. 30, 2014 |
Stockholders Equity Note [Line Items] | ' | ' |
Number of shares of common stock to be purchased by issuing warrants | 250,000 | ' |
Exercise price of stock warrants | 9.6 | 9.6 |
Date from which warrants or rights exercisable | ' | 14-Oct-10 |
Warrants expiration date | ' | 14-Oct-15 |
Fair value of warrants outstanding | 2 | ' |
Outstanding stock warrants | ' | 0 |
Stock warrants [Member] | ' | ' |
Stockholders Equity Note [Line Items] | ' | ' |
Percentage of weighted average expected stock volatility for warrant | 111.46% | ' |
Contract term of expected life assumption | ' | '5 years |
Percentage of risk free rate for warrants | 2.07% | ' |
Dividend yield | 0.00% | ' |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income - Activity in Accumulated Other Comprehensive Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Tax (Expense) Benefit [Member] | Tax (Expense) Benefit [Member] | Tax (Expense) Benefit [Member] | Tax (Expense) Benefit [Member] | |||||
Interest-Only Strip [Member] | Interest-Only Strip [Member] | Interest-Only Strip [Member] | Interest-Only Strip [Member] | |||||||||||||
Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at beginning of period | ($2,150) | $1,634 | ($9,380) | $5,418 | ($5,534) | $915 | ($18,187) | $7,348 | $17 | $16 | $16 | $17 | $3,367 | $702 | $8,791 | ($1,946) |
Other comprehensive (loss) income before reclassification | -2,848 | -5,492 | 6,167 | -8,964 | -4,947 | -10,020 | 9,491 | -16,141 | -3 | -2 | 1 | ' | 2,102 | 4,528 | -3,322 | 7,176 |
Reclassification from accumulated other comprehensive income | -67 | -611 | -1,852 | -923 | -67 | -611 | -1,852 | -923 | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive (loss) income | -2,915 | -6,103 | 4,315 | -9,887 | -5,014 | -10,631 | 7,639 | -17,064 | -3 | -2 | 1 | ' | 2,102 | 4,528 | -3,322 | 7,176 |
Balance at end of period | ($5,065) | ($4,469) | ($5,065) | ($4,469) | ($10,548) | ($9,716) | ($10,548) | ($9,716) | $14 | $14 | $17 | $17 | $5,469 | $5,230 | $5,469 | $5,230 |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' |
Net realized gain (loss) on redemption or sale of investment securities | $67,000 | $611,000 | $1,852,000 | $923,000 | ' |
Net unrealized gain (loss) on available-for-sale securities and interest only strip | 2,800,000 | 5,500,000 | 6,200,000 | 9,000,000 | ' |
Net gain on sales of investment securities | 67,000 | 611,000 | 1,852,000 | 923,000 | ' |
Recognized in earnings resulting from the redemption of investment securities | 23,000 | 899,000 | 498,000 | 2,400,000 | ' |
Other-than-temporary impairment loss on investment securities | ' | ' | 0 | ' | 0 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' |
Net gain on sales of investment securities | 67,000 | 611,000 | 1,800,000 | 923,000 | ' |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Other-than-Temporary Impairment [Member] | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' |
Other-than-temporary impairment loss on investment securities | ' | $899,000 | ' | $2,400,000 | ' |
Regulatory_Matters_Additional_
Regulatory Matters - Additional Information (Detail) | Sep. 30, 2014 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' |
Minimum ratio of qualifying total capital to risk-weighted assets | 8.00% |
Minimum ratio of Tier 1 capital to risk-weighted assets | 4.00% |
Leverage ratio | 4.00% |
Minimum ratio of qualifying total capital to risk-weighted assets for well capitalized | 10.00% |
Minimum ratio of Tier 1 capital to average assets for well capitalized | 6.00% |
Depository Institutions [Member] | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' |
Leverage ratio | 5.00% |
Regulatory_Matters_Capital_Rat
Regulatory Matters - Capital Ratios of Hanmi Financial and Bank (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Minimum Regulatory Requirement Ratio for Total capital to risk-weighted assets | 8.00% | ' |
Minimum Regulatory Requirement Ratio for Tier 1 capital to risk-weighted assets | 4.00% | ' |
Minimum Regulatory Requirement Ratio for Tier 1 capital to average assets | 4.00% | ' |
Minimum to Be Categorized as Well Capitalized Percentage, Total capital to risk-weighted assets | 10.00% | ' |
Minimum to Be Categorized as Well Capitalized Percentage, Tier 1 capital to risk-weighted assets | 6.00% | ' |
Hanmi Financial [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Actual Capital, Total capital to risk-weighted assets | $482,481 | $426,614 |
Actual Capital, Tier 1 capital to risk-weighted assets | 445,357 | 395,763 |
Actual Capital, Tier 1 capital to average assets | 445,357 | 395,763 |
Actual Capital Percentage, Total capital to risk-weighted assets | 16.33% | 17.48% |
Actual Capital Percentage, Tier 1 capital to risk-weighted assets | 15.08% | 16.26% |
Actual Capital Percentage, Tier 1 capital to average assets | 12.80% | 13.62% |
Minimum Regulatory Requirement Capital, Total capital to risk-weighted assets | 236,338 | 195,210 |
Minimum Regulatory Requirement Capital, Tier 1 capital to risk-weighted assets | 118,169 | 97,605 |
Minimum Regulatory Requirement Capital, Tier 1 capital to average assets | 139,169 | 116,249 |
Minimum Regulatory Requirement Ratio for Total capital to risk-weighted assets | 8.00% | 8.00% |
Minimum Regulatory Requirement Ratio for Tier 1 capital to risk-weighted assets | 4.00% | 4.00% |
Minimum Regulatory Requirement Ratio for Tier 1 capital to average assets | 4.00% | 4.00% |
Hanmi Bank [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Actual Capital, Total capital to risk-weighted assets | 482,802 | 409,095 |
Actual Capital, Tier 1 capital to risk-weighted assets | 444,771 | 378,295 |
Actual Capital, Tier 1 capital to average assets | 444,771 | 378,295 |
Actual Capital Percentage, Total capital to risk-weighted assets | 16.28% | 16.79% |
Actual Capital Percentage, Tier 1 capital to risk-weighted assets | 15.00% | 15.53% |
Actual Capital Percentage, Tier 1 capital to average assets | 12.81% | 13.05% |
Minimum Regulatory Requirement Capital, Total capital to risk-weighted assets | 237,193 | 194,880 |
Minimum Regulatory Requirement Capital, Tier 1 capital to risk-weighted assets | 118,597 | 97,440 |
Minimum Regulatory Requirement Capital, Tier 1 capital to average assets | 138,926 | 115,984 |
Minimum Regulatory Requirement Ratio for Total capital to risk-weighted assets | 8.00% | 8.00% |
Minimum Regulatory Requirement Ratio for Tier 1 capital to risk-weighted assets | 4.00% | 4.00% |
Minimum Regulatory Requirement Ratio for Tier 1 capital to average assets | 4.00% | 4.00% |
Minimum to Be Categorized as Well Capitalized Capital, Total capital to risk-weighted assets | 296,492 | 243,600 |
Minimum to Be Categorized as Well Capitalized Capital, Tier 1 capital to risk-weighted assets | 177,895 | 146,160 |
Minimum to Be Categorized as Well Capitalized Capital, Tier 1 capital to average assets | $173,658 | $144,980 |
Minimum to Be Categorized as Well Capitalized Percentage, Total capital to risk-weighted assets | 10.00% | 10.00% |
Minimum to Be Categorized as Well Capitalized Percentage, Tier 1 capital to risk-weighted assets | 6.00% | 6.00% |
Minimum to Be Categorized as Well Capitalized Percentage, Tier 1 capital to average assets | 5.00% | 5.00% |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | |
Minimum [Member] | Maximum [Member] | Significant Observable Inputs with No Active Market with Identical Characteristics [Member] | Significant Observable Inputs with No Active Market with Identical Characteristics [Member] | Significant Observable Inputs with No Active Market with Identical Characteristics [Member] | Significant Observable Inputs with No Active Market with Identical Characteristics [Member] | Zero Coupon Municipal Bond [Member] | Zero Coupon Municipal Bond [Member] | |||||||
Non-recurring Basis [Member] | Non-recurring Basis [Member] | Non-recurring Basis [Member] | Non-recurring Basis [Member] | |||||||||||
Non-Performing Loans Held for Sale [Member] | Non-Performing Loans Held for Sale [Member] | Small Business Administration Loans Held for Sale [Member] | Small Business Administration Loans Held for Sale [Member] | |||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Zero coupon tax credit municipal bond, recorded at estimated fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $718,000 | $748,000 |
Tax credits to be received | ' | '5 months 23 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans held for sale | 7,757,000 | 7,757,000 | 3,842,000 | 5,228,000 | 2,553,000 | 8,306,000 | ' | ' | 0 | 0 | 7,800,000 | 0 | ' | ' |
Impaired loans, description | ' | 'Nonaccrual Non-PCI loans with an unpaid principal balance over $100,000 and all performing restructured loans are reviewed individually for the amount of impairment, if any. Nonaccrual Non-PCI loans with an unpaid principal balance of $100,000 or less are evaluated for impairment collectively. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unpaid principal balance of Non-accrual Non-PCI loans reviewed individually for amount of impairment | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' |
Unpaid principal balance of Non-accrual Non-PCI loans reviewed collectively for amount of impairment | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' |
Transfers of assets between Level 1 and Level 2 of fair value hierarchy | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | $1,128,624 | $530,926 |
Stock warrants | ' | 2 |
Mortgage-backed securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 584,157 | 217,059 |
U.S. government agency securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 172,793 | 83,536 |
Corporate bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 16,940 | 20,835 |
U.S treasury securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 163 | ' |
Other securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 22,704 | 2,886 |
Equity security [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 450 | ' |
U.S. treasury securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 163 | 19,997 |
SBA loan pools securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 114,117 | 12,629 |
Municipal bonds-tax exempt [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 4,429 | 13,937 |
Municipal bonds-taxable [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 16,660 | 32,354 |
Collateralized mortgage obligations [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 196,211 | 127,693 |
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 172,956 | 103,533 |
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets [Member] | U.S. government agency securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 172,793 | 83,536 |
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets [Member] | U.S treasury securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 163 | ' |
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets [Member] | U.S. treasury securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | ' | 19,997 |
Recurring Basis [Member] | Significant Observable Inputs with No Active Market with Identical Characteristics [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 954,500 | 426,645 |
Recurring Basis [Member] | Significant Observable Inputs with No Active Market with Identical Characteristics [Member] | Mortgage-backed securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 584,157 | 217,059 |
Recurring Basis [Member] | Significant Observable Inputs with No Active Market with Identical Characteristics [Member] | Corporate bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 16,940 | 20,835 |
Recurring Basis [Member] | Significant Observable Inputs with No Active Market with Identical Characteristics [Member] | Other securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 22,704 | 2,886 |
Recurring Basis [Member] | Significant Observable Inputs with No Active Market with Identical Characteristics [Member] | SBA loan pools securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 114,117 | 12,629 |
Recurring Basis [Member] | Significant Observable Inputs with No Active Market with Identical Characteristics [Member] | Municipal bonds-tax exempt [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 3,711 | 13,189 |
Recurring Basis [Member] | Significant Observable Inputs with No Active Market with Identical Characteristics [Member] | Municipal bonds-taxable [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 16,660 | 32,354 |
Recurring Basis [Member] | Significant Unobservable Inputs [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 1,168 | 748 |
Stock warrants | ' | 2 |
Recurring Basis [Member] | Significant Unobservable Inputs [Member] | Equity security [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 450 | ' |
Recurring Basis [Member] | Significant Unobservable Inputs [Member] | Municipal bonds-tax exempt [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | 718 | 748 |
Recurring Basis [Member] | Collateralized mortgage obligations [Member] | Significant Observable Inputs with No Active Market with Identical Characteristics [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total securities available for sale | $196,211 | $127,693 |
Fair_Value_Measurements_Reconc
Fair Value Measurements - Reconciliation and Income Statement Classification of Gains and Losses for All Assets and Liabilities (Detail) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Stock warrants [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Beginning Balance | $2,000 |
Purchases, Issuances and Settlement | -2,000 |
Realized Gains or Losses in Earnings | ' |
Unrealized Gains or Losses in Other Comprehensive Income | ' |
Municipal bonds-tax exempt [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Beginning Balance | 748,000 |
Realized Gains or Losses in Earnings | ' |
Unrealized Gains or Losses in Other Comprehensive Income | -30,000 |
Ending Balance | 718,000 |
Equity security [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Purchases, Issuances and Settlement | 450,000 |
Realized Gains or Losses in Earnings | ' |
Ending Balance | $450,000 |
Fair_Value_Measurements_Reconc1
Fair Value Measurements - Reconciliation and Income Statement Classification of Gains and Losses for All Assets and Liabilities (Parenthetical) (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Jul. 27, 2010 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Exercise price of stock warrants | $9.60 | $9.60 |
Class of warrant or rights date from which warrants or rights expiration date | 14-Oct-15 | ' |
Municipal bonds-tax exempt [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Par value of bond | $700,000 | ' |
Amortized value | 700,000 | ' |
Useful remaining life intangible assets | '5 years 23 days | ' |
Equity security [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Number of equity securities | 2 | ' |
Purchases, Issuances and Settlement | 450,000 | ' |
Discount rate | 10.50% | ' |
Security One [Member] | Equity security [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Purchases, Issuances and Settlement | 250,000 | ' |
Security Two [Member] | Equity security [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Purchases, Issuances and Settlement | $200,000 | ' |
Fair_Value_Measurements_Assets1
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Non-Recurring Basis (Detail) (Non-recurring Basis [Member], USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Unrealized losses impaired loans | $2,905 | $2,431 |
Unrealized losses other real estate owned | ' | 10 |
Significant Observable Inputs with No Active Market with Identical Characteristics [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | 34,373 | 36,254 |
Other real estate owned | 24,781 | 756 |
Significant Unobservable Inputs [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | $2,199 | $1,738 |
Fair_Value_Measurements_Assets2
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Non-Recurring Basis (Parenthetical) (Detail) (Non-recurring Basis [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Impaired Loans [Member] | Real estate loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | $33,600,000 | $32,200,000 |
Impaired Loans [Member] | Commercial and industrial loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | 1,200,000 | 2,800,000 |
Impaired Loans [Member] | Consumer loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans | 1,800,000 | 1,300,000 |
Other Real Estate Owned [Member] | Real estate loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Non-performing loans held for sale | 24,800,000 | 756,000 |
Other Real Estate Owned [Member] | Central Bancorp, Inc [Member] | Real estate loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Non-performing loans held for sale | $22,300,000 | ' |
Fair_Value_Measurements_Estima
Fair Value Measurements - Estimated Fair Values of Financial Instruments (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financial assets: | ' | ' |
Available-for-Sale, Estimated Fair Value | $1,128,624 | $530,926 |
Accrued interest receivable | 9,880 | 7,055 |
Investment in federal reserve bank stock | 12,273 | 11,196 |
Financial liabilities: | ' | ' |
Noninterest-bearing deposits | 1,029,343 | 819,015 |
Interest-bearing deposits | 2,568,811 | 1,693,310 |
Accrued interest payable | 3,030 | 3,366 |
Carrying Amount [Member] | ' | ' |
Financial assets: | ' | ' |
Cash and cash equivalents | 197,016 | 179,357 |
Available-for-Sale, Estimated Fair Value | 1,128,624 | 530,926 |
Loans receivable, net of allowance for loan losses | 2,628,091 | 2,177,498 |
Loans held for sale | 7,757 | ' |
Accrued interest receivable | 9,880 | 7,055 |
Servicing assets | 7,844 | 6,833 |
Investment in federal home loan bank stock | 17,579 | 14,060 |
Investment in federal reserve bank stock | 12,273 | 11,196 |
Financial liabilities: | ' | ' |
Noninterest-bearing deposits | 1,029,343 | 819,015 |
Interest-bearing deposits | 2,568,811 | 1,693,310 |
Borrowings | 128,509 | 127,546 |
Accrued interest payable | 3,030 | 3,366 |
Off-balance sheet items: | ' | ' |
Commitments to extend credit | 327,381 | 246,161 |
Standby letters of credit | 9,140 | 8,926 |
Fair Value [Member] | Quoted Prices in Active Markets for Identical Assets [Member] | ' | ' |
Financial assets: | ' | ' |
Cash and cash equivalents | 197,016 | 179,357 |
Available-for-Sale, Estimated Fair Value | 172,956 | 103,533 |
Accrued interest receivable | 9,880 | 7,055 |
Investment in federal home loan bank stock | 17,579 | 14,060 |
Investment in federal reserve bank stock | 12,273 | 11,196 |
Financial liabilities: | ' | ' |
Accrued interest payable | 3,030 | 3,366 |
Fair Value [Member] | Significant Observable Inputs with No Active Market with Identical Characteristics [Member] | ' | ' |
Financial assets: | ' | ' |
Available-for-Sale, Estimated Fair Value | 954,500 | 426,645 |
Loans held for sale | 7,757 | ' |
Financial liabilities: | ' | ' |
Noninterest-bearing deposits | 1,029,343 | 819,015 |
Fair Value [Member] | Significant Unobservable Inputs [Member] | ' | ' |
Financial assets: | ' | ' |
Available-for-Sale, Estimated Fair Value | 1,168 | 748 |
Loans receivable, net of allowance for loan losses | 2,686,838 | 2,204,069 |
Servicing assets | 7,844 | 6,833 |
Financial liabilities: | ' | ' |
Interest-bearing deposits | 2,565,504 | 1,693,739 |
Borrowings | 128,509 | 247,249 |
Off-balance sheet items: | ' | ' |
Commitments to extend credit | 327,381 | 246,161 |
Standby letters of credit | $9,140 | $8,926 |
ShareBased_Compensation_Additi
Share-Based Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' | ' |
Share-based compensation expense | $695,000 | $197,000 | $1,747,000 | $387,000 |
Related tax benefits on non-qualified stock options | $317,000 | $0 | $500,000 | $32,000 |
Number of shares, stock options exercised | 687 | 38,437 | 34,382 | 40,678 |
Restricted stock awards, continuous employment period for vesting of grant | ' | ' | 'Three to five years | ' |
ShareBased_Compensation_Unreco
Share-Based Compensation - Unrecognized Share-Based Compensation Expense (Detail) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Unrecognized Expense | $4,312 |
Average Expected Recognition Period | '2 years 4 months 24 days |
Stock option awards [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Unrecognized Expense | 1,490 |
Average Expected Recognition Period | '2 years 2 months 12 days |
Restricted stock awards [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Unrecognized Expense | $2,822 |
Average Expected Recognition Period | '2 years 7 months 6 days |
ShareBased_Compensation_Summar
Share-Based Compensation - Summary of Stock Options Outstanding under Plans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Y | Y | |||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' | ' |
Options outstanding at beginning of period | 581,913 | ' | 546,595 | ' |
Number of Shares, Options granted | 28,000 | ' | 133,000 | ' |
Number of Shares, Options exercised | -687 | -38,437 | -34,382 | -40,678 |
Number of Shares, Options forfeited | -1,876 | ' | -9,751 | ' |
Number of Shares, Options expired | -2,875 | ' | -30,987 | ' |
Number of Shares, Options outstanding at end of period | 604,475 | ' | 604,475 | ' |
Number of Shares, Options exercisable at end of period | 194,757 | ' | 194,757 | ' |
Weighted-Average Exercise Price Per Share, Options outstanding at beginning of period | $24.32 | ' | $28.09 | ' |
Weighted-Average Exercise Price Per Share, Options granted | $20.57 | ' | $21.60 | ' |
Weighted-Average Exercise Price Per Share, Options exercised | $12.54 | ' | $12.54 | ' |
Weighted-Average Exercise Price Per Share, Options forfeited | $12.54 | ' | $12.54 | ' |
Weighted-Average Exercise Price Per Share, Options expired | $109.71 | ' | $106.26 | ' |
Weighted-Average Exercise Price Per Share, Options outstanding at end of period | $23.79 | ' | $23.79 | ' |
Weighted-Average Exercise Price Per Share, Options exercisable at end of period | $37.21 | ' | $37.21 | ' |
Weighted-Average Remaining Contractual Life, Options outstanding at beginning of period | 8.6 | ' | 8.4 | ' |
Weighted-Average Remaining Contractual Life, Options granted | '10 years | ' | '9 years 8 months 12 days | ' |
Weighted-Average Remaining Contractual Life, Options exercised | 8.2 | ' | 7.9 | ' |
Weighted-Average Remaining Contractual Life, Options forfeited | '8 years 2 months 12 days | ' | '8 years 2 months 12 days | ' |
Weighted-Average Remaining Contractual Life, Options expired | '3 years 3 months 18 days | ' | '6 months | ' |
Weighted-Average Remaining Contractual Life, Options outstanding at end of period | 8.5 | ' | 8.5 | ' |
Weighted-Average Remaining Contractual Life, Options exercisable at end of period | '7 years 2 months 12 days | ' | '7 years 2 months 12 days | ' |
Aggregate Intrinsic Value of In-the-Money Options, Options outstanding at beginning of period | $2,168 | ' | $3,384 | ' |
Aggregate Intrinsic Value of In-the-Money Options, Options exercised | ' | ' | ' | ' |
Aggregate Intrinsic Value of In-the-Money Options, Options forfeited | ' | ' | ' | ' |
Aggregate Intrinsic Value of In-the-Money Options, Options expired | ' | ' | ' | ' |
Aggregate Intrinsic Value of In-the-Money Options, Options outstanding at end of period | 2,188 | ' | 2,188 | ' |
Aggregate Intrinsic Value of In-the-Money Options, Options exercisable at end of period | 871 | ' | 871 | ' |
Aggregate Intrinsic Value of In-the-Money Options, Options granted | ' | ' | ' | ' |
ShareBased_Compensation_Summar1
Share-Based Compensation - Summary of Stock Options Outstanding under Plans (Parenthetical) (Detail) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' |
Intrinsic value represents the excess of the closing stock price related to options outstanding | $20.16 | $21.08 | $21.89 |
ShareBased_Compensation_Schedu
Share-Based Compensation - Schedule of Restricted Stock Awards under 2013 Plan (Detail) (USD $) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2014 | Sep. 30, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' |
Number of Shares, Restricted stock at beginning of period | 166,332 | 116,082 |
Number of Shares, Restricted stock granted | 32,720 | 99,068 |
Number of Shares, Restricted stock vested | -36,331 | -51,429 |
Number of Shares, Restricted stock forfeited | ' | -1,000 |
Number of Shares, Restricted stock at end of period | 162,721 | 162,721 |
Weighted-Average Grant Date Fair Value Per Share, Restricted stock at beginning of period | $18.46 | $16.43 |
Weighted-Average Grant Date Fair Value Per Share, Restricted stock granted | $20.86 | $21.93 |
Weighted-Average Grant Date Fair Value Per Share, Restricted stock vested | $16.46 | $17.53 |
Weighted-Average Grant Date Fair Value Per Share, Restricted stock forfeited | ' | $22.25 |
Weighted-Average Grant Date Fair Value Per Share, Restricted stock at end of period | $19.39 | $19.39 |
Earnings_Per_Share_Reconciliat
Earnings Per Share - Reconciliation of Components Used to Derive Basic and Diluted EPS (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' |
Income from continuing operations, net of taxes | $13,264 | ' | $10,315 | $35,764 | $29,769 |
(Loss) income from discontinued operations, net of taxes | ' | ' | 70 | -444 | 161 |
Net income | 13,264 | ' | 10,385 | 35,320 | 29,930 |
Income from continuing operations, net of taxes | 13,264 | ' | 10,315 | 35,764 | 29,769 |
(Loss) income from discontinued operations, net of taxes | ' | ' | 70 | -444 | 161 |
Net income | $13,264 | ' | $10,385 | $35,320 | $29,930 |
Income from continuing operations, net of taxes | 31,708,581 | ' | 31,621,049 | 31,683,288 | 31,583,897 |
Basic EPS | 31,708,581 | ' | 31,621,049 | 31,683,288 | 31,583,897 |
Effect of dilutive securities - options, warrants and unvested restricted stock | 292,838 | ' | 111,955 | 284,588 | 68,898 |
Income from continuing operations, net of taxes | 32,001,419 | ' | 31,733,004 | 31,967,876 | 31,652,795 |
Diluted EPS | 32,001,419 | ' | 31,733,004 | 31,967,876 | 31,652,795 |
Per Share Amount, Income from continuing operations, net of taxes | $0.42 | ' | $0.33 | $1.13 | $0.94 |
Per Share Amount, (Loss) income from discontinued operations, net of taxes | ' | ' | ' | ($0.02) | $0.01 |
Basic earnings per share | $0.42 | ' | $0.33 | $1.11 | $0.95 |
Per Share Amount, Effect of dilutive securities - options, warrants and unvested restricted stock | ' | ' | ' | ' | ' |
Per Share Amount, Income from continuing operations, net of taxes | $0.41 | ' | $0.33 | $1.12 | $0.94 |
Per Share Amount, (Loss) income from discontinued operations, net of taxes | ' | $0.01 | ' | ($0.02) | $0.01 |
Diluted earnings per share | $0.41 | ' | $0.33 | $1.10 | $0.95 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) (Stock option awards [Member]) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Stock option awards [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive shares | 136,850 | 74,275 | 86,850 | 74,275 |
OffBalance_Sheet_Commitments_D
Off-Balance Sheet Commitments - Distribution of Undisbursed Loan Commitments (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Loss Contingencies [Line Items] | ' | ' |
Total undisbursed loan commitments | $340,398 | $271,489 |
Commitments to extend credit [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Total undisbursed loan commitments | 327,381 | 246,161 |
Standby letters of credit [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Total undisbursed loan commitments | 9,140 | 8,926 |
Commercial letters of credit [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Total undisbursed loan commitments | 3,877 | 4,179 |
Unused credit card lines [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Total undisbursed loan commitments | ' | $12,223 |
Liquidity_Additional_Informati
Liquidity - Additional Information (Detail) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Financial_Institution | |||
Line of Credit Facility [Line Items] | ' | ' | ' |
Bank's FHLB borrowings | $110,000,000 | ' | $127,546,000 |
Line of credit | ' | 95,000,000 | ' |
Number of financial institutions | ' | 3 | ' |
Hanmi Bank [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Broker deposits | 99,000 | ' | ' |
Total borrowing capacity based on pledged collateral | 669,200,000 | ' | 343,300,000 |
Borrowing capacity available based on pledged collateral | 559,200,000 | ' | 215,800,000 |
Bank's FHLB borrowings | 110,000,000 | ' | 127,500,000 |
Borrowing percentage of assets | 2.60% | ' | 4.17% |
Amount available from borrowing source | 65,100,000 | ' | ' |
Carrying value for loans pledged by Bank | 89,400,000 | ' | ' |
Borrowings | 0 | ' | ' |
Maximum borrowing capacity of line of credit | ' | ' | $100,000,000 |
Hanmi Bank [Member] | Maximum [Member] | ' | ' | ' |
Line of Credit Facility [Line Items] | ' | ' | ' |
Percentage of borrowings from FHLB | 30.00% | ' | ' |
Segment_Reporting_Additional_I
Segment Reporting - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2014 | |
Segment | |
Segment Reporting [Abstract] | ' |
Number of operating segment | 1 |