Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Mar. 31, 2014 | 5-May-14 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Entity Registrant Name | 'BBCN BANCORP INC | ' |
Entity Central Index Key | '0001128361 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 79,490,899 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements Of Financial Condition (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Cash and cash equivalents: | ' | ' |
Cash and due from banks | $116,387 | $96,061 |
Interest bearing deposit at the Federal Reserve Bank (FRB) | 286,724 | 220,644 |
Total cash and cash equivalents | 403,111 | 316,705 |
Securities available for sale, at fair value | 725,229 | 705,751 |
Loans held for sale, at the lower of cost or fair value | 38,157 | 44,115 |
Loans receivable, net of allowance for loan losses (March 31, 2014 - $65,699; December 31, 2013 - $67,320) | 5,125,095 | 5,006,856 |
Other real estate owned (OREO), net | 20,001 | 24,288 |
Federal Home Loan Bank (FHLB) stock, at cost | 27,902 | 27,941 |
Premises and equipment, net of accumulated depreciation and amortization (March 31, 2014 - $27,153; December 31, 2013 - $25,852) | 31,290 | 30,894 |
Accrued interest receivable | 13,410 | 13,403 |
Deferred tax assets, net | 78,316 | 89,297 |
Customers’ liabilities on acceptances | 4,473 | 5,602 |
Bank owned life insurance (BOLI) | 45,062 | 44,770 |
Investments in affordable housing partnerships | 10,953 | 11,460 |
Goodwill | 105,401 | 105,401 |
Other intangible assets, net | 4,859 | 5,184 |
FDIC loss share receivable | 253 | 1,110 |
Other assets | 34,039 | 42,422 |
Total assets | 6,667,551 | 6,475,199 |
LIABILITIES: | ' | ' |
Noninterest bearing | 1,442,348 | 1,399,454 |
Interest bearing: | ' | ' |
Money market and NOW accounts | 1,391,541 | 1,376,068 |
Savings deposits | 210,973 | 222,446 |
Time deposits of $100,000 or more | 1,589,751 | 1,498,784 |
Other time deposits | 699,947 | 651,305 |
Total deposits | 5,334,560 | 5,148,057 |
FHLB advances | 421,260 | 421,352 |
Subordinated debentures | 42,037 | 57,410 |
Accrued interest payable | 5,740 | 4,821 |
Acceptances outstanding | 4,473 | 5,602 |
Other liabilities | 27,322 | 28,583 |
Total liabilities | 5,835,392 | 5,665,825 |
STOCKHOLDERS’ EQUITY: | ' | ' |
Common stock, $0.001 par value; authorized 150,000,000 shares at March 31, 2014 and December 31, 2013; issued and outstanding, 79,488,899 and 79,441,525 shares at March 31, 2014 and December 31, 2013, respectively | 79 | 79 |
Additional paid-in capital | 540,979 | 540,876 |
Retained earnings | 294,842 | 278,604 |
Accumulated other comprehensive loss, net | -3,741 | -10,185 |
Total stockholders’ equity | 832,159 | 809,374 |
Total liabilities and stockholders’ equity | $6,667,551 | $6,475,199 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements Of Financial Condition (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Loans receivable, allowance | $65,699 | $67,320 |
Premises and equipment, accumulated depreciation and amortization | $27,153 | $25,852 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 150,000,000 | 150,000,000 |
Common stock, shares issued | 79,488,899 | 79,441,525 |
Common stock, shares outstanding | 79,488,899 | 79,441,525 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements Of Income (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
INTEREST INCOME: | ' | ' |
Interest and fees on loans | $68,694 | $63,029 |
Interest on securities | 4,095 | 3,427 |
Interest on federal funds sold and other investments | 565 | 287 |
Total interest income | 73,354 | 66,743 |
INTEREST EXPENSE: | ' | ' |
Interest on deposits | 6,690 | 5,408 |
Interest on FHLB advances | 1,211 | 1,224 |
Interest on other borrowings | 487 | 395 |
Total interest expense | 8,388 | 7,027 |
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES | 64,966 | 59,716 |
PROVISION FOR LOAN LOSSES | 3,026 | 7,506 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 61,940 | 52,210 |
NONINTEREST INCOME: | ' | ' |
Service fees on deposit accounts | 3,472 | 2,875 |
International service fees | 1,004 | 1,238 |
Loan servicing fees, net | 965 | 969 |
Wire transfer fees | 905 | 816 |
Other income and fees | 1,621 | 1,249 |
Net gains on sales of SBA loans | 2,722 | 2,694 |
Net gains on sales of other loans | 0 | 43 |
Net gains on sales of securities available for sale | 0 | 54 |
Net gains on sales of OREO | 406 | 2 |
Total noninterest income | 11,095 | 9,940 |
NONINTEREST EXPENSE: | ' | ' |
Salaries and employee benefits | 18,938 | 16,332 |
Occupancy | 4,623 | 4,011 |
Furniture and equipment | 2,014 | 1,573 |
Advertising and marketing | 1,088 | 1,273 |
Data processing and communication | 2,122 | 1,644 |
Professional fees | 1,313 | 1,301 |
FDIC assessments | 1,023 | 694 |
Credit related expenses | 1,421 | 1,715 |
Merger and integration expense | 173 | 1,305 |
Other | 3,560 | 3,427 |
Total noninterest expense | 36,275 | 33,275 |
INCOME BEFORE INCOME TAX PROVISION | 36,760 | 28,875 |
INCOME TAX PROVISION | 14,564 | 11,414 |
NET INCOME | $22,196 | $17,461 |
EARNINGS PER COMMON SHARE | ' | ' |
Basic (in dollars per share) | $0.28 | $0.22 |
Diluted (in dollars per share) | $0.28 | $0.22 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' |
Net income | $22,196 | $17,461 |
Other comprehensive income (loss): | ' | ' |
Unrealized gains (losses) on securities available for sale and interest only strips | 11,140 | -3,653 |
Reclassification adjustments for gains realized in income | 0 | -54 |
Tax expense (benefit) | 4,696 | -1,581 |
Change in unrealized gains (losses) on securities available for sale and interest only strips | 6,444 | -2,126 |
Total comprehensive income | $28,640 | $15,335 |
Consolidated_Statements_Of_Cha
Consolidated Statements Of Changes In Stockholders' Equity (USD $) | Total | Common Stock | Additional paid-in capital | Retained earnings | Accumulated other comprehensive income (loss), net | Pacific International Bancorp, Inc. | Pacific International Bancorp, Inc. |
In Thousands, except Share data, unless otherwise specified | Common Stock | Additional paid-in capital | |||||
Balance at Dec. 31, 2012 | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Acquisitions, shares | ' | ' | ' | ' | ' | 663,843 | ' |
Acquisitions, value | ' | ' | ' | ' | ' | $1 | $8,640 |
Issuance of additional shares pursuant to various stock plans, shares | ' | 106,786 | ' | ' | ' | ' | ' |
Issuance of additional shares pursuant to various stock plans | ' | ' | 414 | ' | ' | ' | ' |
Tax effects of stock plans | ' | ' | -26 | ' | ' | ' | ' |
Stock-based compensation | ' | ' | 709 | ' | ' | ' | ' |
Cash dividends declared on common stock | ' | ' | ' | -3,902 | ' | ' | ' |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' |
Net income | 17,461 | ' | ' | 17,461 | ' | ' | ' |
Other comprehensive loss | ' | ' | ' | ' | -2,126 | ' | ' |
Balance at Mar. 31, 2013 | ' | 79 | 535,091 | 230,149 | 6,956 | ' | ' |
Balance, shares at Mar. 31, 2013 | ' | 78,812,140 | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2013 | 809,374 | 79 | 540,876 | 278,604 | -10,185 | ' | ' |
Balance, shares at Dec. 31, 2013 | ' | 79,441,525 | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Issuance of additional shares pursuant to various stock plans, shares | ' | 47,374 | ' | ' | ' | ' | ' |
Issuance of additional shares pursuant to various stock plans | ' | ' | -1 | ' | ' | ' | ' |
Stock-based compensation | ' | ' | 104 | ' | ' | ' | ' |
Cash dividends declared on common stock | ' | ' | ' | -5,958 | ' | ' | ' |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' |
Net income | 22,196 | ' | ' | 22,196 | ' | ' | ' |
Other comprehensive loss | ' | ' | ' | ' | 6,444 | ' | ' |
Balance at Mar. 31, 2014 | $832,159 | $79 | $540,979 | $294,842 | ($3,741) | ' | ' |
Balance, shares at Mar. 31, 2014 | ' | 79,488,899 | ' | ' | ' | ' | ' |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements Of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' |
Net income | $22,196 | $17,461 |
Adjustments to reconcile net income to net cash from operating activities: | ' | ' |
Depreciation, amortization, net of discount accretion | -5,171 | -2,717 |
Stock-based compensation expense | 104 | 709 |
Provision for loan losses | 3,026 | 7,506 |
Valuation adjustment of loans held for sale | 0 | 0 |
Valuation adjustment of OREO | -314 | 115 |
Proceeds from sales of loans held for sale | 31,878 | 29,144 |
Originations of loans held for sale | -28,414 | -23,713 |
Net gains on sales of SBA and other loans | -2,722 | -2,737 |
Net change in BOLI | -292 | -312 |
Net gains on sales of securities available for sale | 0 | -54 |
Net gains on sales of OREO | -406 | -2 |
Change in accrued interest receivable | -7 | -730 |
Change in deferred income taxes | 6,284 | 1,524 |
Change in prepaid FDIC insurance | 0 | 614 |
Change in investments in affordable housing partnership | 507 | 523 |
Change in FDIC loss share receivable | 857 | 1,411 |
Change in other assets | 8,392 | 675 |
Change in accrued interest payable | 919 | -104 |
Change in other liabilities | -1,261 | -9,836 |
Net cash provided by operating activities | 35,576 | 19,477 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' |
Net change in loans receivable | -109,295 | -69,771 |
Proceeds from sales of securities available for sale | 0 | 6,636 |
Proceeds from sales of OREO | 4,820 | 849 |
Purchase of premises and equipment | -1,969 | -1,671 |
Purchase of securities available for sale | -37,444 | -69,821 |
Redemption of FHLB stock | 39 | 16 |
Proceeds from matured or paid-down securities available for sale | 28,235 | 52,488 |
Net cash used in investing activities | -115,614 | -62,781 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Net change in deposits | 187,866 | 28,412 |
Redemption of subordinated debentures | -15,464 | 0 |
Proceeds from FHLB advances | 0 | 90,000 |
Repayment of FHLB advances | 0 | -103,697 |
Cash dividends paid on Common Stock | -5,958 | -3,902 |
Issuance of additional stock pursuant to various stock plans | 0 | 388 |
Net cash provided by financing activities | 166,444 | 11,201 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 86,406 | -32,103 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 316,705 | 312,916 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 403,111 | 280,813 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ' | ' |
Interest paid | 7,469 | 7,057 |
Income taxes paid | 2,610 | 16,291 |
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES | ' | ' |
Transfer from loans receivable to OREO | 187 | 1,985 |
Transfer from loans receivable to loans held for sale | 34 | 0 |
Loans to facilitate sales of loans held for sale | 5,250 | 0 |
Pacific International Bancorp, Inc. | ' | ' |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' |
Net cash received from acquisition - Pacific International Bancorp, Inc. | 0 | 18,493 |
Pacific International Bank Acquisition | ' | ' |
Assets acquired | 0 | 178,732 |
Liabilities assumed | $0 | $165,828 |
BBCN_Bancorp_Inc
BBCN Bancorp, Inc. | 3 Months Ended |
Mar. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
BBCN Bancorp, Inc. | ' |
BBCN Bancorp, Inc. | |
BBCN Bancorp, Inc. ("BBCN Bancorp" on a parent-only basis and the "Company" on a consolidated basis), headquartered in Los Angeles, California, is the holding company for BBCN Bank ("BBCN Bank" or the "Bank"). The Bank has branches in California, New Jersey, and the New York City, Chicago, Seattle and Washington, D.C. metropolitan areas, as well as loan production offices in Atlanta, Dallas, Denver, Northern California, Seattle and Annandale. The Company is a corporation organized under the laws of the state of Delaware and a financial holding company and bank holding company registered under the Bank Holding Company Act of 1956, as amended. |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2014 | |
Basis Of Presentation [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
The condensed consolidated financial statements included herein have been prepared without an audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”), except for the Condensed Consolidated Statement of Financial Condition as of December 31, 2013 which was derived from audited financial statements included in the Company's 2013 Annual Report on Form 10-K. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such SEC rules and regulations. | |
The condensed consolidated financial statements include the accounts of BBCN Bancorp and its wholly-owned subsidiaries, principally BBCN Bank. All intercompany transactions and balances have been eliminated in consolidation. | |
The Company has made all adjustments, consisting solely of normal recurring accruals, that in the opinion of management, are necessary to fairly present the Company's financial position at March 31, 2014 and the results of operations for the three months then ended. The results of operations for the interim periods are not necessarily indicative of results to be anticipated for the full year. | |
The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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 that are susceptible to change in the near term relate to the determination of the allowance and provision for loan losses, the evaluation of other than temporary impairment of investment securities, accounting for derivatives and hedging activities, the determination of the carrying value for cash surrender value of life insurance, the determination of the carrying value of goodwill and other intangible assets, accounting for deferred tax assets and related valuation allowances, the determination of the fair values of investment securities and other financial instruments, accounting for lease arrangements, accounting for incentive compensation, profit sharing and bonus payments, the valuation of servicing assets, and the determination of the fair values of acquired assets and liabilities including the fair value of loans acquired with credit deterioration. | |
These unaudited condensed consolidated financial statements should be read along with the audited consolidated financial statements and accompanying notes included in the Company's 2013 Annual Report on Form 10-K. | |
Recent Accounting Pronouncements: | |
FASB ASU No. 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The provisions of ASU No. 2013-11 require an entity to present an unrecognized tax benefit, or portion thereof, in the statement of financial position as a reduction to a deferred tax asset for a net operating loss carryforward or a tax credit carryforward, with certain exceptions related to availability. ASU No. 2013-11 is effective for interim and annual reporting periods beginning after December 15, 2013. The adoption of ASU No. 2013-11 did not have a material impact on the Company's consolidated financial statements. | |
FASB ASU No. 2014-04, Receivables—Troubled Debt Restructuring by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure. The amendment intends to clarify the terms defining when an in substance foreclosure occurs, which determines when the receivable should be derecognized and the real estate property recognized. ASU No. 2014-04 will be effective for interim and annual periods beginning after December 31, 2014. ASU No. 2014-04 is not expected to have a material impact on the Company's consolidated financial statements. |
Business_Combinations
Business Combinations | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Business Combinations [Abstract] | ' | |||||||
Business Combinations | ' | |||||||
Business Combinations | ||||||||
The Company applies the acquisition method of accounting for business combinations under ASC 805 - Business Combinations. Under the acquisition method, the acquiring entity in a business combination recognizes 100 percent of the assets acquired and liabilities assumed at their acquisition date fair values. Management utilizes valuation techniques appropriate for the asset or liability being measured in determining these fair values. Any excess of the purchase price over amounts allocated to assets acquired, including identifiable intangible assets, and liabilities assumed is recorded as goodwill. Where amounts allocated to assets acquired and liabilities assumed is greater than the purchase price, a bargain purchase gain is recognized. Acquisition-related costs are expensed as incurred as merger and integration expense. | ||||||||
Acquisition of Foster Bankshares, Inc. | ||||||||
On August 13, 2013, the Company completed the acquisition of Foster Bankshares, Inc. ("Foster"), the holding company of Foster Bank. The Company acquired Foster in order to expand its market in Illinois and into Virginia. Foster's primary subsidiary, Foster Bank, operated eight branches in Illinois and one branch in Virginia. | ||||||||
Under the terms of the acquisition agreement, Foster shareholders can elect to receive a cash price of $34.6703 per share or, for shareholders who qualified as accredited investors, 2.62771 shares of Company common stock for each share of Foster common stock. As of March 31, 2014, the Company issued 180,300 shares of Company common stock in exchange for 68,619 shares of Foster common stock and paid $1.9 million for 58,906 shares of Foster common stock. As of March 31, 2014, there were 4,475 shares of Foster common stock that had not been redeemed, and the accrued liability for the unredeemed shares of Foster common stock was $155 thousand. | ||||||||
The consideration paid, the assets acquired, and the liabilities assumed are summarized in the following table: | ||||||||
(In thousands) | ||||||||
Consideration paid: | ||||||||
BBCN common stock issued in exchange for Foster common stock | $ | 2,567 | ||||||
Cash paid for the redemption of Foster common stock | 1,922 | |||||||
Liability for unredeemed Foster common stock | 155 | |||||||
Total consideration paid | $ | 4,644 | ||||||
Assets Acquired: | ||||||||
Cash and cash equivalents | $ | 42,883 | ||||||
Investment securities available for sale | 4,844 | |||||||
Loans receivable | 255,297 | |||||||
FRB and FHLB stock | 1,714 | |||||||
OREO | 14,251 | |||||||
Premises and equipment | 4,733 | |||||||
Core deposit intangibles | 2,763 | |||||||
Deferred tax assets, net | 21,211 | |||||||
Other assets | 2,353 | |||||||
Liabilities Assumed: | ||||||||
Deposits | (321,596 | ) | ||||||
Borrowings | (18,045 | ) | ||||||
Subordinated debentures | (15,309 | ) | ||||||
Other liabilities | (5,980 | ) | ||||||
Total identifiable net assets | $ | (10,881 | ) | |||||
Excess of consideration paid over fair value of net assets acquired (goodwill) | $ | 15,525 | ||||||
The assets and liabilities of Foster were recorded on the consolidated balance sheet at estimated fair value on the acquisition date. The purchase price may change as additional information becomes available and when unredeemed Foster shares are redeemed. The fair values of the net deferred tax assets, loans and certain liabilities assumed from Foster were provisional and adjustments to the provisional amounts may occur during the measurement period as the Company obtains additional information about the facts and circumstances that existed as of the acquisition date. | ||||||||
The $15.5 million of goodwill recognized in the Foster acquisition represents the future economic benefit arising from the acquisition including the creation of a platform that can support future operations and strengthening the Company's existing presence in the Chicago metropolitan area and expansion into the Washington, D.C. market. Goodwill is not amortized for book purposes and is not deductible for tax purposes. | ||||||||
Acquisition of Pacific International Bancorp, Inc. | ||||||||
On February 15, 2013, the Company completed the acquisition of Pacific International Bancorp, Inc. ("PIB"), a Seattle based company, pursuant to an Agreement and Plan of Merger, dated October 22, 2012. The Company acquired PIB in order to increase the Company's presence in terms of branch offices and deposit market share in the Seattle market. PIB's primary subsidiary, Pacific International Bank, a Washington state-chartered bank, operated four bank branches in the Seattle metropolitan area. | ||||||||
In connection with the acquisition, the consideration paid, the assets acquired, and the liabilities assumed are summarized in the following table: | ||||||||
(In thousands) | ||||||||
Consideration paid: | ||||||||
BBCN common stock issued | $ | 8,437 | ||||||
Cash in lieu of fractional shares paid to PIB stockholders | 1 | |||||||
Redemption of Preferred Stock | 7,475 | |||||||
Total consideration paid | $ | 15,913 | ||||||
Assets Acquired: | ||||||||
Cash and cash equivalents | $ | 25,968 | ||||||
Investment securities available for sale | 7,810 | |||||||
Loans receivable | 131,589 | |||||||
FRB and FHLB stock | 1,829 | |||||||
OREO | 3,418 | |||||||
Deferred tax assets, net | 9,886 | |||||||
Core deposit intangibles | 604 | |||||||
Other assets | 2,514 | |||||||
Liabilities Assumed: | ||||||||
Deposits | (143,665 | ) | ||||||
Borrowings | (14,698 | ) | ||||||
Subordinated debentures | (4,108 | ) | ||||||
Other liabilities | (5,116 | ) | ||||||
Total identifiable net assets | $ | 16,031 | ||||||
Bargain purchase gain | $ | 118 | ||||||
The bargain purchase gain of $118 thousand from the PIB acquisition was recorded in other income in the Consolidated Statements of Income. | ||||||||
Acquired Loans | ||||||||
The Company estimated the fair value for most loans acquired by utilizing a methodology wherein loans with comparable characteristics were aggregated by type of collateral, remaining maturity and repricing terms. Cash flows for each pool were determined by estimating future credit losses and prepayment rates. Projected monthly cash flows were then discounted using a risk-adjusted market rate for similar loans to determine the fair value of each pool. To estimate the fair value of the remaining loans, management analyzed the value of the underlying collateral of the loans, assuming the fair values of the loans were derived from the eventual sale of the collateral. The value of the collateral was based on recently completed appraisals adjusted to the valuation date based on recognized industry indices. The Company discounted those values using market derived rates of return, with consideration given to the period of time and costs associated with the foreclosure and disposition of the collateral. There was no carryover of the allowance for loan losses associated with the loans the Company acquired as the loans were initially recorded at fair value. The following table presents loans acquired with deteriorated credit quality as of the date of acquisition: | ||||||||
Foster | PIB | |||||||
(In thousands) | ||||||||
Contractually required principal and interest at acquisition | $ | 150,430 | $ | 54,462 | ||||
Contractual cash flows not expected to be collected (nonaccretable discount) | 37,447 | 9,687 | ||||||
Expected cash flows at acquisition | 112,983 | 44,775 | ||||||
Interest component of expected cash flows (accretable discount) | 14,928 | 4,945 | ||||||
Fair value of acquired impaired loans | $ | 98,055 | $ | 39,830 | ||||
The outstanding principal balances and the related carrying amounts of the acquired loans included in the statement of financial condition are $249.5 million and $206.0 million, respectively for Foster and $105.3 million and $88.8 million, respectively for PIB, as of March 31, 2014. | ||||||||
Pro Forma Information | ||||||||
The operating results of Foster and PIB from the dates of acquisitions through March 31, 2014 are included in the Condensed Consolidated Statement of Income for 2014 and 2013. | ||||||||
The following unaudited combined pro forma information presents the operating results for the three months ended March 31, 2014 and 2013, as if the Foster and PIB acquisitions had occurred on January 1, 2013: | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
(In thousands, except share data) | ||||||||
Net Interest income | $ | 64,966 | $ | 69,576 | ||||
Net income | $ | 22,196 | $ | 13,847 | ||||
Pro forma earnings per share: | ||||||||
Basic | $ | 0.28 | $ | 0.18 | ||||
Diluted | 0.28 | 0.18 | ||||||
The above pro forma results are presented for illustrative purposes only and are not intended to represent or be indicative of the actual results of operations of the merged companies that would have been achieved had the acquisitions occurred at January 1, 2013, nor are they intended to represent or be indicative of future results of operations. The pro forma results do not include expected operating cost savings as a result of the acquisitions. These pro forma results require significant estimates and judgments particularly as it relates to valuation and accretion of income associated with acquired loans. | ||||||||
Acquisition-Related Expenses | ||||||||
The Company incurred acquisition-related expenses associated with the Foster and PIB acquisitions which were reflected in the Condensed Consolidated Statements of Income. During the three months ended March 31, 2014, the Company incurred $142 thousand and $31 thousand in expenses related to the Foster and PIB acquisitions, respectively. During the three months ended March 31, 2013, the Company incurred $1.3 million in expenses related to the PIB acquisition. These expenses are comprised primarily of salaries and benefits, occupancy expenses, professional services and other noninterest expense. |
StockBased_Compensation
Stock-Based Compensation | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
Stock-Based Compensation | ' | ||||||||||||
Stock-Based Compensation | |||||||||||||
The Company has a stock-based incentive plan, the 2007 BBCN Bancorp Equity Incentive Plan (the “2007 Plan”). The 2007 Plan, approved by our stockholders on May 31, 2007, was amended and restated on July 25, 2007 and again on December 1, 2011. The 2007 Plan provides for grants of stock options, stock appreciation rights (“SARs”), restricted stock, performance shares and performance units (sometimes referred to individually or collectively as “awards”) to non-employee directors, officers, employees and consultants of the Company. Stock options may be either incentive stock options (“ISOs”), as defined in Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), or nonqualified stock options (“NQSOs”). | |||||||||||||
The 2007 Plan gives the Company flexibility to (i) attract and retain qualified non-employee directors, executives and other key employees and consultants with appropriate equity-based awards; (ii) motivate high levels of performance; (iii) recognize employee contributions to the Company’s success; and (iv) align the interests of the 2007 Plan participants with those of the Company’s stockholders. The exercise price for shares under an ISO may not be less than 100% of fair market value on the date the award is granted under Code Section 422. Similarly, under the terms of the 2007 Plan the exercise price for SARs and NQSOs may not be less than 100% of fair market value on the date of grant. Performance units are awarded to a participant at the market price of the Company’s common stock on the date of award (after the lapse of the restriction period and the attainment of the performance criteria). No minimum exercise price is prescribed for performance shares and restricted stock awarded under the 2007 Plan. | |||||||||||||
ISOs, SARs and NQSOs have vesting periods of three to five years and have 10-year contractual terms. Restricted stock, performance shares, and performance units will be granted with a restriction period of not less than one year from the grant date for performance-based awards and not more than three years from the grant date for time-based vesting of grants. Compensation expense for awards is recognized over the vesting period. | |||||||||||||
The Company has another stock-based incentive plan, the Center Financial Corporation 2006 Stock Incentive Plan, adopted April 12, 2006, as amended and restated June 13, 2007 (the "2006 Plan"), which was assumed by the Company during the merger with Center Bank. | |||||||||||||
The 2006 Plan provides for the granting of incentive stock options to officers and employees and non-qualified stock options and restricted stock awards to employees (including officers) and non-employee directors. The option prices of all options granted under the 2006 Plan must be not less than 100% of the fair market value at the date of grant. All options granted generally vest at the rate of 20% per year except that the options granted to the non-employee directors vest at the rate of 33% per year. All options not exercised generally expire ten years after the date of grant. | |||||||||||||
Under the 2007 and 2006 Plans, 2,752,912 shares were available for future grants as of March 31, 2014. | |||||||||||||
The total shares reserved for issuance will serve as the underlying value for all equity awards under the 2007 and 2006 Plans. With the exception of the shares underlying stock options and restricted stock awards, the board of directors may choose to settle the awards by paying the equivalent cash value or by delivering the appropriate number of shares. | |||||||||||||
The following is a summary of stock option activity under the 2007 and 2006 Plans for the three months ended March 31, 2014: | |||||||||||||
Number of | Weighted- | Weighted- | Aggregate | ||||||||||
Shares | Average | Average | Intrinsic | ||||||||||
Exercise | Remaining | Value | |||||||||||
Price Per | Contractual | ||||||||||||
Share | Life (Years) | ||||||||||||
Outstanding - January 1, 2014 | 420,594 | $ | 20.44 | ||||||||||
Granted | — | — | |||||||||||
Exercised | — | — | |||||||||||
Expired | (21,382 | ) | 17.57 | ||||||||||
Forfeited | — | — | |||||||||||
Outstanding - March 31, 2014 | 399,212 | $ | 20.6 | 2.67 | $ | 138,215 | |||||||
Options exercisable - March 31, 2014 | 399,212 | $ | 20.6 | 2.67 | $ | 138,215 | |||||||
The following is a summary of restricted and performance unit activity under the 2007 and 2006 Plans for the three months ended March 31, 2014: | |||||||||||||
Number of | Weighted- | ||||||||||||
Shares | Average | ||||||||||||
Grant | |||||||||||||
Date Fair | |||||||||||||
Value | |||||||||||||
Outstanding - January 1, 2014 | 200,165 | $ | 11.57 | ||||||||||
Granted | 24,000 | 16.57 | |||||||||||
Vested | (53,126 | ) | 10.78 | ||||||||||
Forfeited | (17,413 | ) | 12.13 | ||||||||||
Outstanding - March 31, 2014 | 153,626 | $ | 12.62 | ||||||||||
The total fair value of performance units vested for the three months ended March 31, 2014 and 2013 was $781 thousand and $718 thousand, respectively. | |||||||||||||
The amount charged against income related to stock-based payment arrangements was $104 thousand and $709 thousand for the three months ended March 31, 2014 and 2013, respectively. | |||||||||||||
The income tax benefit recognized was $43 thousand and $67 thousand, for the three months ended March 31, 2014 and 2013, respectively. | |||||||||||||
At March 31, 2014, total unrecognized compensation expense related to non-vested stock option grants and restricted and performance units aggregated $1.8 million, and is expected to be recognized over a weighted average vesting period of 3.10 years. |
Earnings_Per_Share_EPS
Earnings Per Share ("EPS") | 3 Months Ended | |||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||||||||
Earnings Per Share ("EPS") | ' | |||||||||||||||||||||
Earnings Per Share (“EPS”) | ||||||||||||||||||||||
Basic EPS does not reflect the possibility of dilution that could result from the issuance of additional shares of common stock upon exercise or conversion of outstanding securities, and is computed by dividing net income 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 to common stock that would then share in our earnings. For the three months ended March 31, 2014 and 2013, stock options and restricted shares awards for approximately 75,129 shares and 565,055 shares of common stock, respectively, were excluded in computing diluted earnings per common share because they were antidilutive. Additionally, warrants, issued pursuant to the Company's participation in the U.S. Treasury's TARP Capital Purchase Plan, to purchase 18,392 shares and 18,044 shares of common stock were antidilutive and excluded for the three months ended March 31, 2014 and 2013, respectively. | ||||||||||||||||||||||
The following table shows the computation of basic and diluted EPS for the three months ended March 31, 2014 and 2013. | ||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||
Net income | Shares | Per | Net income | Shares | Per | |||||||||||||||||
(Numerator) | (Denominator) | Share | (Numerator) | (Denominator) | Share | |||||||||||||||||
(Amount) | (Amount) | |||||||||||||||||||||
(In thousands, except share and per share data) | ||||||||||||||||||||||
Basic EPS - common stock | $ | 22,196 | 79,489,579 | $ | 0.28 | $ | 17,461 | 78,389,434 | $ | 0.22 | ||||||||||||
Effect of dilutive securities: | ||||||||||||||||||||||
Stock options and performance units | 58,591 | 79,311 | ||||||||||||||||||||
Common stock warrants | 91,669 | 11,926 | ||||||||||||||||||||
Diluted EPS - common stock | $ | 22,196 | 79,639,839 | $ | 0.28 | $ | 17,461 | 78,480,671 | $ | 0.22 | ||||||||||||
Securities_Available_for_Sale
Securities Available for Sale | 3 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||||||
Available-for-sale Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||
Securities Available for Sale | ' | ||||||||||||||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||||||||||||
The following is a summary of securities available for sale as of the dates indicated: | |||||||||||||||||||||||||||||||||
At March 31, 2014 | |||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||||||||||
U.S. Government agency and U.S. Government sponsored enterprises | |||||||||||||||||||||||||||||||||
Collateralized mortgage obligations | $ | 283,963 | $ | 1,509 | $ | (6,118 | ) | $ | 279,354 | ||||||||||||||||||||||||
Mortgage-backed securities | 420,159 | 4,352 | (5,550 | ) | 418,961 | ||||||||||||||||||||||||||||
Trust preferred securities | 4,520 | — | (720 | ) | 3,800 | ||||||||||||||||||||||||||||
Municipal bonds | 5,681 | 382 | (44 | ) | 6,019 | ||||||||||||||||||||||||||||
Total debt securities | 714,323 | 6,243 | (12,432 | ) | 708,134 | ||||||||||||||||||||||||||||
Mutual funds | 17,425 | — | (330 | ) | 17,095 | ||||||||||||||||||||||||||||
$ | 731,748 | $ | 6,243 | $ | (12,762 | ) | $ | 725,229 | |||||||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||||||||||
U.S. Government agency and U.S. Government sponsored enterprises | |||||||||||||||||||||||||||||||||
Collateralized mortgage obligations | $ | 286,608 | $ | 1,104 | $ | (13,611 | ) | $ | 274,101 | ||||||||||||||||||||||||
Mortgage-backed securities | 409,165 | 3,620 | (7,789 | ) | 404,996 | ||||||||||||||||||||||||||||
Trust preferred securities | 4,516 | — | (819 | ) | 3,697 | ||||||||||||||||||||||||||||
Municipal bonds | 5,687 | 319 | (70 | ) | 5,936 | ||||||||||||||||||||||||||||
Total debt securities | 705,976 | 5,043 | (22,289 | ) | 688,730 | ||||||||||||||||||||||||||||
Mutual funds | 17,425 | — | (404 | ) | 17,021 | ||||||||||||||||||||||||||||
$ | 723,401 | $ | 5,043 | $ | (22,693 | ) | $ | 705,751 | |||||||||||||||||||||||||
As of March 31, 2014 and December 31, 2013, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of stockholders' equity. | |||||||||||||||||||||||||||||||||
For the three months ended March 31, 2014 and 2013, $11.1 million of unrealized gains and $3.7 million of unrealized losses, respectively, were included in accumulated other comprehensive income during the periods. A total of $0 and $54 thousand of net gains on sales of securities were reclassified out of accumulated other comprehensive income into earnings for the three months ended March 31, 2014 and 2013, respectively. | |||||||||||||||||||||||||||||||||
The proceeds from sales of securities and the associated gross gains and losses recorded in earnings are listed below: | |||||||||||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Proceeds | $ | — | $ | 6,636 | |||||||||||||||||||||||||||||
Gross gains | — | 54 | |||||||||||||||||||||||||||||||
Gross losses | — | — | |||||||||||||||||||||||||||||||
The amortized cost and estimated fair value of debt securities at March 31, 2014, by contractual maturity, are shown below. 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. Securities not due at a single maturity date are shown separately. | |||||||||||||||||||||||||||||||||
Amortized | Estimated | ||||||||||||||||||||||||||||||||
Cost | Fair Value | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Available for sale: | |||||||||||||||||||||||||||||||||
Due within one year | $ | — | $ | — | |||||||||||||||||||||||||||||
Due after one year through five years | 340 | 349 | |||||||||||||||||||||||||||||||
Due after five years through ten years | 3,883 | 4,230 | |||||||||||||||||||||||||||||||
Due after ten years | 5,978 | 5,241 | |||||||||||||||||||||||||||||||
U.S. Government agency and U.S. Government sponsored enterprises | |||||||||||||||||||||||||||||||||
Collateralized mortgage obligations | 283,963 | 279,354 | |||||||||||||||||||||||||||||||
Mortgage-backed securities | 420,159 | 418,960 | |||||||||||||||||||||||||||||||
Mutual funds | 17,425 | 17,095 | |||||||||||||||||||||||||||||||
$ | 731,748 | $ | 725,229 | ||||||||||||||||||||||||||||||
Securities with carrying values of approximately $349.2 million and $360.6 million at March 31, 2014 and December 31, 2013, respectively, were pledged to secure public deposits, various borrowings and for other purposes as required or permitted by law. | |||||||||||||||||||||||||||||||||
The following table shows our investments’ gross unrealized losses and estimated fair value, aggregated by investment category and the length of time that the individual securities have been in a continuous unrealized loss position as of the dates indicated. | |||||||||||||||||||||||||||||||||
At March 31, 2014 | |||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||||||||
Description of | Number of | Fair Value | Gross | Number of | Fair Value | Gross | Number of | Fair Value | Gross | ||||||||||||||||||||||||
Securities | Securities | Unrealized | Securities | Unrealized | Securities | Unrealized | |||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Collateralized mortgage obligations* | 10 | $ | 103,382 | $ | (2,408 | ) | 9 | $ | 94,998 | $ | (3,710 | ) | 19 | $ | 198,380 | $ | (6,118 | ) | |||||||||||||||
Mortgage-backed securities* | 19 | 146,427 | (2,565 | ) | 10 | 40,681 | (2,985 | ) | 29 | 187,108 | (5,550 | ) | |||||||||||||||||||||
Trust preferred securities | — | — | — | 1 | 3,800 | (720 | ) | 1 | 3,800 | (720 | ) | ||||||||||||||||||||||
Municipal bonds | 1 | 1,132 | (44 | ) | — | — | — | 1 | 1,132 | (44 | ) | ||||||||||||||||||||||
Mutual funds | 1 | 13,095 | (330 | ) | — | — | — | 1 | 13,095 | (330 | ) | ||||||||||||||||||||||
31 | $ | 264,036 | $ | (5,347 | ) | 20 | $ | 139,479 | $ | (7,415 | ) | 51 | $ | 403,515 | $ | (12,762 | ) | ||||||||||||||||
* Investments in U.S. Government agency and U.S. Government sponsored enterprises | |||||||||||||||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||||||||
Description of | Number of | Fair Value | Gross | Number of | Fair Value | Gross | Number of | Fair Value | Gross | ||||||||||||||||||||||||
Securities | Securities | Unrealized | Securities | Unrealized | Securities | Unrealized | |||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Collateralized mortgage obligations* | 21 | $ | 198,713 | $ | (12,460 | ) | 3 | $ | 13,381 | $ | (1,151 | ) | 24 | $ | 212,094 | $ | (13,611 | ) | |||||||||||||||
Mortgage-backed securities* | 29 | 203,276 | (7,293 | ) | 7 | 14,793 | (496 | ) | 36 | 218,069 | (7,789 | ) | |||||||||||||||||||||
Trust Preferred securities | 1 | 1,112 | (70 | ) | 1 | 3,697 | (819 | ) | 2 | 4,809 | (889 | ) | |||||||||||||||||||||
Mutual funds | 1 | 13,021 | (404 | ) | — | — | — | 1 | 13,021 | (404 | ) | ||||||||||||||||||||||
52 | $ | 416,122 | $ | (20,227 | ) | 11 | $ | 31,871 | $ | (2,466 | ) | 63 | $ | 447,993 | $ | (22,693 | ) | ||||||||||||||||
* Investments in U.S. Government agency and U.S. Government sponsored enterprises | |||||||||||||||||||||||||||||||||
The Company evaluates securities for other-than-temporary-impairment ("OTTI") on at least a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to the financial condition and near-term prospects of the issuer, the length of time and the extent to which the fair values of the securities have been less than the cost of the securities, and management's intention to sell, or whether it is more likely than not that management will be required to sell a security in an unrealized loss position before recovery of its amortized cost basis. In analyzing an issuer’s financial condition, the Company considers, among other considerations, whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuer’s financial condition. | |||||||||||||||||||||||||||||||||
The Company has certain trust preferred securities and U.S. Government agency and U.S. Government sponsored enterprise collateralized mortgage obligations that were in a continuous unrealized loss position for twelve months or longer as of March 31, 2014. The trust preferred securities at March 31, 2014 had an amortized cost of $4.5 million and an unrealized loss of $720 thousand at March 31, 2014. The trust preferred securities are scheduled to mature in May 2047. These securities are rated investment grade and there are no credit quality concerns with the obligor. Certain of the Company's U.S. Government agency and U.S. Government sponsored enterprise investments were in an unrealized loss position at March 31, 2014. All of the Company's U.S. Government agency and U.S. Government sponsored enterprise investments have high credit ratings of "AA" grade or better. Interest on the trust preferred securities and the U.S. Government agency and U.S. Government sponsored enterprise investments have been paid as agreed, and management believes this will continue in the future and that the securities will be repaid in full as scheduled. The market value declines for these securities are deemed to be due to the current market volatility and are not reflective of management’s expectations of its ability to fully recover these investments, which may be at maturity. For these reasons, no OTTI was recognized on the trust preferred securities and the U.S. Government agency and U.S. Government sponsored collateralized mortgage obligations and mortgage-backed securities that are in an unrealized loss position at March 31, 2014. | |||||||||||||||||||||||||||||||||
The Company considers the losses on the investments in unrealized loss positions at March 31, 2014 to be temporary based on: 1) the likelihood of recovery; 2) the information relative to the extent and duration of the decline in market value; and 3) the Company’s intention not to sell, and management's determination that it is more likely than not that management will not be required to sell a security in an unrealized loss position before recovery of its amortized cost basis. |
Loans_Receivable_and_Allowance
Loans Receivable and Allowance for Loan Losses | 3 Months Ended | |||||||||||||||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Loans Receivable and Allowance for Loan Losses | ' | |||||||||||||||||||||||||||||||||||
Loans Receivable and Allowance for Loan Losses | ||||||||||||||||||||||||||||||||||||
The following is a summary of loans receivable by major category: | ||||||||||||||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Loan portfolio composition | ||||||||||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||||||||||
Residential | $ | 11,035 | $ | 10,039 | ||||||||||||||||||||||||||||||||
Commercial & industrial | 3,947,925 | 3,821,163 | ||||||||||||||||||||||||||||||||||
Construction | 76,038 | 72,856 | ||||||||||||||||||||||||||||||||||
Total real estate loans | 4,034,998 | 3,904,058 | ||||||||||||||||||||||||||||||||||
Commercial business | 923,026 | 949,093 | ||||||||||||||||||||||||||||||||||
Trade finance | 135,638 | 124,685 | ||||||||||||||||||||||||||||||||||
Consumer and other | 98,895 | 98,507 | ||||||||||||||||||||||||||||||||||
Total loans outstanding | 5,192,557 | 5,076,343 | ||||||||||||||||||||||||||||||||||
Less: deferred loan fees | (1,763 | ) | (2,167 | ) | ||||||||||||||||||||||||||||||||
Loans receivable | 5,190,794 | 5,074,176 | ||||||||||||||||||||||||||||||||||
Less: allowance for loan losses | (65,699 | ) | (67,320 | ) | ||||||||||||||||||||||||||||||||
Loans receivable, net of allowance for loan losses | $ | 5,125,095 | $ | 5,006,856 | ||||||||||||||||||||||||||||||||
The loan portfolio is made up of four segments: real estate loans, commercial business, trade finance and consumer and other. These segments are further segregated between loans accounted for under the amortized cost method ("Legacy Loans") and acquired loans that were originally recorded at fair value with no carryover of the related pre-acquisition allowance for loan losses ("Acquired Loans"). The Acquired Loans are further segregated between Acquired Credit Impaired Loans (loans with credit deterioration on the acquisition date and accounted for under ASC 310-30, or "ACILs") and Acquired Performing Loans (loans that were pass graded on the acquisition date and the fair value adjustment is amortized over the contractual life under ASC 310-20, or "APLs"). | ||||||||||||||||||||||||||||||||||||
The following table presents changes in the accretable discount on the ACILs for the three months ended March 31, 2014 and 2013: | ||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 47,398 | $ | 18,652 | ||||||||||||||||||||||||||||||||
Additions due to acquisitions during the period | — | 4,945 | ||||||||||||||||||||||||||||||||||
Accretion | (4,867 | ) | (3,446 | ) | ||||||||||||||||||||||||||||||||
Changes in expected cash flows | (9,948 | ) | 3,259 | |||||||||||||||||||||||||||||||||
Balance at end of period | $ | 32,583 | $ | 23,410 | ||||||||||||||||||||||||||||||||
On the acquisition date, the amount by which the undiscounted expected cash flows exceed the estimated fair value of the ACILs is the “accretable yield.” The accretable yield is then measured at each financial reporting date and represents the difference between the remaining undiscounted expected cash flows and the current carrying value of the loans. The accretable yield will change from period to period due to the following: 1) estimates of the remaining life of acquired loans will affect the amount of future interest income; 2) indices for variable rates of interest on ACILs may change; and 3) estimates of the amount of the contractual principal and interest that will not be collected (nonaccretable difference) may change. | ||||||||||||||||||||||||||||||||||||
The following tables detail the activity in the allowance for loan losses by portfolio segment for the three months ended March 31, 2014 and 2013: | ||||||||||||||||||||||||||||||||||||
Legacy | Acquired | Total | ||||||||||||||||||||||||||||||||||
Real Estate | Commercial Business | Trade Finance | Consumer and Other | Real Estate | Commercial Business | Trade Finance | Consumer and Other | |||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | 40,068 | $ | 16,796 | $ | 2,653 | $ | 461 | $ | 6,482 | $ | 796 | $ | — | $ | 64 | $ | 67,320 | ||||||||||||||||||
Provision (credit) for loan losses | (1,414 | ) | 2,547 | 348 | 7 | 451 | 1,011 | — | 76 | 3,026 | ||||||||||||||||||||||||||
Loans charged off | (87 | ) | (3,725 | ) | (57 | ) | (1 | ) | (95 | ) | (1,220 | ) | — | (78 | ) | (5,263 | ) | |||||||||||||||||||
Recoveries of charge offs | 19 | 590 | — | — | — | 6 | — | 1 | 616 | |||||||||||||||||||||||||||
Balance, end of period | $ | 38,586 | $ | 16,208 | $ | 2,944 | $ | 467 | $ | 6,838 | $ | 593 | $ | — | $ | 63 | $ | 65,699 | ||||||||||||||||||
Legacy | Acquired | Total | ||||||||||||||||||||||||||||||||||
Real Estate | Commercial Business | Trade Finance | Consumer and Other | Real Estate | Commercial Business | Trade Finance | Consumer and Other | |||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2013 | ||||||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | 41,505 | $ | 16,490 | $ | 2,349 | $ | 658 | $ | 4,718 | $ | 1,115 | $ | 3 | $ | 103 | $ | 66,941 | ||||||||||||||||||
Provision (credit) for loan losses | 3,069 | 39 | (625 | ) | (129 | ) | 5,320 | (189 | ) | (3 | ) | 24 | 7,506 | |||||||||||||||||||||||
Loans charged off | (905 | ) | (183 | ) | (26 | ) | (7 | ) | (151 | ) | (124 | ) | — | (33 | ) | (1,429 | ) | |||||||||||||||||||
Recoveries of charge offs | 40 | 176 | — | 16 | 2 | 7 | — | 9 | 250 | |||||||||||||||||||||||||||
Balance, end of period | $ | 43,709 | $ | 16,522 | $ | 1,698 | $ | 538 | $ | 9,889 | $ | 809 | $ | — | $ | 103 | $ | 73,268 | ||||||||||||||||||
The following tables disaggregate the allowance for loan losses and the loans outstanding by impairment methodology at March 31, 2014 and December 31, 2013: | ||||||||||||||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||||||||||||||
Legacy | Acquired | Total | ||||||||||||||||||||||||||||||||||
Real Estate | Commercial Business | Trade Finance | Consumer and Other | Real Estate | Commercial Business | Trade Finance | Consumer and Other | |||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 4,248 | $ | 4,121 | $ | 761 | $ | — | $ | 555 | $ | 509 | $ | — | $ | — | $ | 10,194 | ||||||||||||||||||
Collectively evaluated for impairment | 34,338 | 12,087 | 2,183 | 467 | 723 | 84 | — | 63 | 49,945 | |||||||||||||||||||||||||||
ACILs | — | — | — | — | 5,560 | — | — | — | 5,560 | |||||||||||||||||||||||||||
Total | $ | 38,586 | $ | 16,208 | $ | 2,944 | $ | 467 | $ | 6,838 | $ | 593 | $ | — | $ | 63 | $ | 65,699 | ||||||||||||||||||
Loans outstanding: | ||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 50,681 | $ | 37,565 | $ | 6,263 | $ | 525 | $ | 23,274 | $ | 2,574 | $ | — | $ | 952 | $ | 121,834 | ||||||||||||||||||
Collectively evaluated for impairment | 3,257,964 | 769,299 | 126,364 | 36,112 | 563,265 | 71,138 | — | 29,720 | 4,853,862 | |||||||||||||||||||||||||||
ACILs | — | — | — | — | 139,814 | 42,450 | 3,011 | 31,586 | 216,861 | |||||||||||||||||||||||||||
Total | $ | 3,308,645 | $ | 806,864 | $ | 132,627 | $ | 36,637 | $ | 726,353 | $ | 116,162 | $ | 3,011 | $ | 62,258 | $ | 5,192,557 | ||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Legacy | Acquired | Total | ||||||||||||||||||||||||||||||||||
Real Estate | Commercial Business | Trade Finance | Consumer and Other | Real Estate | Commercial Business | Trade Finance | Consumer and Other | |||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 5,578 | $ | 5,183 | $ | 159 | $ | 32 | $ | 1,092 | $ | 622 | $ | — | $ | — | $ | 12,666 | ||||||||||||||||||
Collectively evaluated for impairment | 34,490 | 11,613 | 2,494 | 429 | 612 | 174 | — | 64 | 49,876 | |||||||||||||||||||||||||||
ACILs | — | — | — | — | 4,778 | — | — | — | 4,778 | |||||||||||||||||||||||||||
Total | $ | 40,068 | $ | 16,796 | $ | 2,653 | $ | 461 | $ | 6,482 | $ | 796 | $ | — | $ | 64 | $ | 67,320 | ||||||||||||||||||
Loans outstanding: | ||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 49,177 | $ | 37,314 | $ | 5,692 | $ | 535 | $ | 19,992 | $ | 2,792 | $ | — | $ | 767 | $ | 116,269 | ||||||||||||||||||
Collectively evaluated for impairment | 3,076,924 | 778,350 | 117,249 | 32,421 | 613,696 | 84,325 | — | 31,802 | 4,734,767 | |||||||||||||||||||||||||||
ACILs | — | — | — | — | 144,269 | 46,312 | 1,744 | 32,982 | 225,307 | |||||||||||||||||||||||||||
Total | $ | 3,126,101 | $ | 815,664 | $ | 122,941 | $ | 32,956 | $ | 777,957 | $ | 133,429 | $ | 1,744 | $ | 65,551 | $ | 5,076,343 | ||||||||||||||||||
As of March 31, 2014 and December 31, 2013, the liability for unfunded commitments was $926 thousand and $885 thousand, respectively. For the three months ended March 31, 2014 and 2013, the recognized provision for credit losses related to unfunded commitments was $41 thousand and $0, respectively. | ||||||||||||||||||||||||||||||||||||
The recorded investment in individually impaired loans was as follows: | ||||||||||||||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
With allocated allowance | ||||||||||||||||||||||||||||||||||||
Without charge off | $ | 70,845 | $ | 85,920 | ||||||||||||||||||||||||||||||||
With charge off | 483 | 851 | ||||||||||||||||||||||||||||||||||
With no allocated allowance | ||||||||||||||||||||||||||||||||||||
Without charge off | 41,383 | 23,160 | ||||||||||||||||||||||||||||||||||
With charge off | 9,123 | 6,338 | ||||||||||||||||||||||||||||||||||
Allowance on impaired loans | (10,194 | ) | (12,666 | ) | ||||||||||||||||||||||||||||||||
Impaired loans, net of allowance | $ | 111,640 | $ | 103,603 | ||||||||||||||||||||||||||||||||
The following tables detail impaired loans (Legacy and APLs that became impaired subsequent to being acquired) as of March 31, 2014 and December 31, 2013 and for the three months ended March 31, 2014 and March 31, 2013 and for the year ended December 31, 2013. Loans with no related allowance for loan losses are believed by management to have adequate collateral securing their carrying value. | ||||||||||||||||||||||||||||||||||||
As of March 31, 2014 | For the Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||||||
Total Impaired Loans | Recorded Investment* | Unpaid Contractual Principal Balance | Related | Average Recorded Investment* | Interest Income Recognized during Impairment | |||||||||||||||||||||||||||||||
Allowance | ||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
With related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 4,334 | 4,628 | 521 | 5,826 | 23 | |||||||||||||||||||||||||||||||
Hotel & motel | 11,741 | 11,741 | 2,036 | 11,831 | 133 | |||||||||||||||||||||||||||||||
Gas station & car wash | 3,078 | 3,240 | 533 | 3,112 | 19 | |||||||||||||||||||||||||||||||
Mixed use | 932 | 946 | 160 | 931 | 10 | |||||||||||||||||||||||||||||||
Industrial & warehouse | 7,977 | 7,977 | 413 | 10,188 | 75 | |||||||||||||||||||||||||||||||
Other | 10,012 | 10,037 | 1,140 | 10,137 | 94 | |||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial business | 27,874 | 28,621 | 4,630 | 31,269 | 297 | |||||||||||||||||||||||||||||||
Trade finance | 5,380 | 12,567 | 761 | 5,490 | 49 | |||||||||||||||||||||||||||||||
Consumer and other | — | — | — | 268 | — | |||||||||||||||||||||||||||||||
$ | 71,328 | $ | 79,757 | $ | 10,194 | $ | 79,052 | $ | 700 | |||||||||||||||||||||||||||
With no related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 8,242 | 11,259 | — | 6,134 | 58 | |||||||||||||||||||||||||||||||
Hotel & motel | 6,499 | 11,381 | — | 6,501 | — | |||||||||||||||||||||||||||||||
Gas station & car wash | 4,654 | 8,161 | — | 4,750 | — | |||||||||||||||||||||||||||||||
Mixed use | 1,297 | 1,374 | — | 1,071 | — | |||||||||||||||||||||||||||||||
Industrial & warehouse | 9,444 | 13,134 | — | 6,625 | 3 | |||||||||||||||||||||||||||||||
Other | 4,140 | 6,284 | — | 2,844 | 16 | |||||||||||||||||||||||||||||||
Real estate—construction | 1,605 | 1,605 | — | 1,615 | 21 | |||||||||||||||||||||||||||||||
Commercial business | 12,265 | 15,690 | — | 8,854 | 61 | |||||||||||||||||||||||||||||||
Trade finance | 883 | 967 | — | 488 | — | |||||||||||||||||||||||||||||||
Consumer and other | 1,477 | 1,548 | — | 1,123 | 8 | |||||||||||||||||||||||||||||||
$ | 50,506 | $ | 71,403 | $ | — | $ | 40,005 | $ | 167 | |||||||||||||||||||||||||||
Total | $ | 121,834 | $ | 151,160 | $ | 10,194 | $ | 119,057 | $ | 867 | ||||||||||||||||||||||||||
* | Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. | |||||||||||||||||||||||||||||||||||
For the Three Months Ended March 31, 2013 | ||||||||||||||||||||||||||||||||||||
Total Impaired Loans | Average Recorded Investment* | Interest Income Recognized during Impairment | ||||||||||||||||||||||||||||||||||
With related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | ||||||||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 6,578 | 51 | ||||||||||||||||||||||||||||||||||
Hotel & motel | 10,564 | 137 | ||||||||||||||||||||||||||||||||||
Gas station & car wash | 1,635 | 11 | ||||||||||||||||||||||||||||||||||
Mixed use | 926 | 13 | ||||||||||||||||||||||||||||||||||
Industrial & warehouse | 6,600 | 6 | ||||||||||||||||||||||||||||||||||
Other | 13,670 | 159 | ||||||||||||||||||||||||||||||||||
Real estate—construction | — | — | ||||||||||||||||||||||||||||||||||
Commercial business | 24,312 | 242 | ||||||||||||||||||||||||||||||||||
Trade finance | 6,543 | 73 | ||||||||||||||||||||||||||||||||||
Consumer and other | 55 | 1 | ||||||||||||||||||||||||||||||||||
$ | 70,883 | $ | 693 | |||||||||||||||||||||||||||||||||
With no related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | ||||||||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 1,913 | — | ||||||||||||||||||||||||||||||||||
Hotel & motel | 6,168 | — | ||||||||||||||||||||||||||||||||||
Gas station & car wash | 2,981 | 15 | ||||||||||||||||||||||||||||||||||
Mixed Uuse | 890 | — | ||||||||||||||||||||||||||||||||||
Industrial & warehouse | 4,618 | 3 | ||||||||||||||||||||||||||||||||||
Other | 4,214 | 39 | ||||||||||||||||||||||||||||||||||
Real estate—construction | 1,697 | 22 | ||||||||||||||||||||||||||||||||||
Commercial business | 1,456 | 16 | ||||||||||||||||||||||||||||||||||
Trade finance | — | — | ||||||||||||||||||||||||||||||||||
Consumer and other | 1,273 | 5 | ||||||||||||||||||||||||||||||||||
$ | 25,210 | $ | 100 | |||||||||||||||||||||||||||||||||
Total | $ | 96,093 | $ | 793 | ||||||||||||||||||||||||||||||||
* | Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. | |||||||||||||||||||||||||||||||||||
As of March 31, 2014 | For the Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||||||
Impaired APLs | Recorded Investment* | Unpaid | Related | Average Recorded Investment* | Interest Income Recognized during Impairment | |||||||||||||||||||||||||||||||
Contractual Principal | Allowance | |||||||||||||||||||||||||||||||||||
Balance | ||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
With related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 105 | 159 | 27 | 248 | 1 | |||||||||||||||||||||||||||||||
Hotel & motel | — | — | — | — | — | |||||||||||||||||||||||||||||||
Gas station & car wash | 2,777 | 2,939 | 503 | 1,786 | 15 | |||||||||||||||||||||||||||||||
Mixed use | — | — | — | — | — | |||||||||||||||||||||||||||||||
Industrial & warehouse | — | — | — | 2,564 | — | |||||||||||||||||||||||||||||||
Other | 1,412 | 1,431 | 25 | 1,387 | 2 | |||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial business | 952 | 1,568 | 509 | 1,468 | 5 | |||||||||||||||||||||||||||||||
Trade finance | — | — | — | — | — | |||||||||||||||||||||||||||||||
Consumer and other | — | — | — | — | — | |||||||||||||||||||||||||||||||
$ | 5,246 | $ | 6,097 | $ | 1,064 | $ | 7,453 | $ | 23 | |||||||||||||||||||||||||||
With no related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 1,834 | 3,306 | — | 1,539 | 7 | |||||||||||||||||||||||||||||||
Hotel & motel | 6,378 | 8,675 | — | 6,410 | — | |||||||||||||||||||||||||||||||
Gas station & car wash | 537 | 990 | — | 1,076 | — | |||||||||||||||||||||||||||||||
Mixed use | 465 | 465 | — | 233 | — | |||||||||||||||||||||||||||||||
Industrial & warehouse | 6,543 | 6,855 | — | 4,213 | 3 | |||||||||||||||||||||||||||||||
Other | 3,223 | 3,686 | — | 2,179 | 8 | |||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial business | 1,622 | 1,803 | — | 1,215 | — | |||||||||||||||||||||||||||||||
Trade finance | — | — | — | — | — | |||||||||||||||||||||||||||||||
Consumer and ther | 952 | 1,023 | — | 860 | 2 | |||||||||||||||||||||||||||||||
$ | 21,554 | $ | 26,803 | $ | — | $ | 17,725 | $ | 20 | |||||||||||||||||||||||||||
Total | $ | 26,800 | $ | 32,900 | $ | 1,064 | $ | 25,178 | $ | 43 | ||||||||||||||||||||||||||
* | Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. | |||||||||||||||||||||||||||||||||||
For the Three Months Ended March 31, 2013 | ||||||||||||||||||||||||||||||||||||
Impaired APLs | Average Recorded Investment* | Interest Income Recognized during Impairment | ||||||||||||||||||||||||||||||||||
With related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | ||||||||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 1,683 | 25 | ||||||||||||||||||||||||||||||||||
Hotel & motel | — | — | ||||||||||||||||||||||||||||||||||
Gas station & car wash | — | — | ||||||||||||||||||||||||||||||||||
Mixed use | — | — | ||||||||||||||||||||||||||||||||||
Industrial & warehouse | 5,552 | — | ||||||||||||||||||||||||||||||||||
Other | 3,709 | 62 | ||||||||||||||||||||||||||||||||||
Real estate—construction | — | |||||||||||||||||||||||||||||||||||
Commercial business | 3,063 | 8 | ||||||||||||||||||||||||||||||||||
Trade inance | — | — | ||||||||||||||||||||||||||||||||||
Consumer and other | — | — | ||||||||||||||||||||||||||||||||||
$ | 14,007 | $ | 95 | |||||||||||||||||||||||||||||||||
With no related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | ||||||||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 430 | — | ||||||||||||||||||||||||||||||||||
Hotel & motel | 5,959 | — | ||||||||||||||||||||||||||||||||||
Gas station & car wash | 1,315 | 15 | ||||||||||||||||||||||||||||||||||
Mixed use | — | — | ||||||||||||||||||||||||||||||||||
Industrial & warehouse | 3,294 | 3 | ||||||||||||||||||||||||||||||||||
Other | 1,276 | 8 | ||||||||||||||||||||||||||||||||||
Real estate—construction | — | — | ||||||||||||||||||||||||||||||||||
Commercial business | 273 | — | ||||||||||||||||||||||||||||||||||
Trade finance | — | — | ||||||||||||||||||||||||||||||||||
Consumer and other | 793 | — | ||||||||||||||||||||||||||||||||||
$ | 13,340 | $ | 26 | |||||||||||||||||||||||||||||||||
Total | $ | 27,347 | $ | 121 | ||||||||||||||||||||||||||||||||
* | Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. | |||||||||||||||||||||||||||||||||||
As of December 31, 2013 | For the Year Ended | |||||||||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||||||
Total Impaired Loans | Recorded Investment* | Unpaid | Related | Average | Interest Income Recognized during Impairment | |||||||||||||||||||||||||||||||
Contractual Principal | Allowance | Recorded Investment* | ||||||||||||||||||||||||||||||||||
Balance | ||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
With related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 7,318 | 7,451 | 827 | 7,783 | 181 | |||||||||||||||||||||||||||||||
Hotel & motel | 11,920 | 12,744 | 2,841 | 11,432 | 550 | |||||||||||||||||||||||||||||||
Gas station & car wash | 3,145 | 3,236 | 519 | 2,090 | 117 | |||||||||||||||||||||||||||||||
Mixed use | 930 | 953 | 212 | 1,108 | 43 | |||||||||||||||||||||||||||||||
Industrial & warehouse | 12,398 | 12,470 | 810 | 9,496 | 323 | |||||||||||||||||||||||||||||||
Other | 10,262 | 10,351 | 1,461 | 9,826 | 405 | |||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial business | 34,663 | 36,472 | 5,805 | 27,010 | 1,572 | |||||||||||||||||||||||||||||||
Trade finance | 5,600 | 5,628 | 159 | 5,313 | 41 | |||||||||||||||||||||||||||||||
Consumer and other | 535 | 535 | 32 | 348 | 23 | |||||||||||||||||||||||||||||||
$ | 86,771 | $ | 89,840 | $ | 12,666 | $ | 74,406 | $ | 3,255 | |||||||||||||||||||||||||||
With no related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 4,025 | 6,591 | — | 3,428 | 45 | |||||||||||||||||||||||||||||||
Hotel & motel | 6,502 | 10,498 | — | 6,304 | — | |||||||||||||||||||||||||||||||
Gas station & car wash | 4,845 | 8,273 | — | 3,803 | 139 | |||||||||||||||||||||||||||||||
Mixed use | 845 | 912 | — | 697 | — | |||||||||||||||||||||||||||||||
Industrial & warehouse | 3,806 | 7,204 | — | 3,958 | 10 | |||||||||||||||||||||||||||||||
Other | 1,548 | 3,647 | — | 3,043 | — | |||||||||||||||||||||||||||||||
Real estate—construction | 1,625 | 1,625 | — | 1,670 | 89 | |||||||||||||||||||||||||||||||
Commercial business | 5,443 | 8,437 | — | 2,770 | 25 | |||||||||||||||||||||||||||||||
Trade finance | 92 | 7,279 | — | 18 | — | |||||||||||||||||||||||||||||||
Consumer and other | 767 | 831 | — | 1,067 | — | |||||||||||||||||||||||||||||||
$ | 29,498 | $ | 55,297 | $ | — | $ | 26,758 | $ | 308 | |||||||||||||||||||||||||||
Total | $ | 116,269 | $ | 145,137 | $ | 12,666 | $ | 101,164 | $ | 3,563 | ||||||||||||||||||||||||||
* | Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. | |||||||||||||||||||||||||||||||||||
As of December 31, 2013 | For the Year Ended | |||||||||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||||||
Impaired APLs | Recorded Investment* | Unpaid Contractual Principal Balance | Related Allowance | Average Recorded Investment* | Interest Income Recognized during Impairment | |||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
With related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 391 | 397 | 15 | 1,084 | 14 | |||||||||||||||||||||||||||||||
Hotel & motel | — | — | — | — | — | |||||||||||||||||||||||||||||||
Gas station & car wash | 794 | 885 | 341 | 485 | — | |||||||||||||||||||||||||||||||
Mixed use | — | — | — | — | — | |||||||||||||||||||||||||||||||
Industrial & warehouse | 5,128 | 5,200 | 612 | 6,323 | — | |||||||||||||||||||||||||||||||
Other | 1,362 | 1,412 | 124 | 1,819 | 43 | |||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial business | 1,984 | 3,354 | 622 | 2,827 | 5 | |||||||||||||||||||||||||||||||
Trade finance | — | — | — | — | — | |||||||||||||||||||||||||||||||
Consumer and other | — | — | — | — | — | |||||||||||||||||||||||||||||||
$ | 9,659 | $ | 11,248 | $ | 1,714 | $ | 12,538 | $ | 62 | |||||||||||||||||||||||||||
With no related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 1,244 | 2,216 | — | 953 | 14 | |||||||||||||||||||||||||||||||
Hotel & motel | 6,441 | 8,676 | — | 6,169 | — | |||||||||||||||||||||||||||||||
Gas station & car wash | 1,614 | 2,109 | — | 1,366 | 62 | |||||||||||||||||||||||||||||||
Mixed use | — | — | — | — | — | |||||||||||||||||||||||||||||||
Industrial & warehouse | 1,883 | 3,446 | — | 2,482 | 10 | |||||||||||||||||||||||||||||||
Other | 1,135 | 1,547 | — | 1,600 | — | |||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial business | 808 | 948 | — | 291 | — | |||||||||||||||||||||||||||||||
Trade finance | — | — | — | — | — | |||||||||||||||||||||||||||||||
Consumer and other | 767 | 831 | — | 779 | — | |||||||||||||||||||||||||||||||
$ | 13,892 | $ | 19,773 | $ | — | $ | 13,640 | $ | 86 | |||||||||||||||||||||||||||
Total | $ | 23,551 | $ | 31,021 | $ | 1,714 | $ | 26,178 | $ | 148 | ||||||||||||||||||||||||||
* | Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. | |||||||||||||||||||||||||||||||||||
Generally, loans are placed on nonaccrual status if principal or interest payments become 90 days past due and/or management deems the collectibility of the principal and/or interest to be in question, as well as when required by regulatory requirements. Loans to a customer whose financial condition has deteriorated are considered for nonaccrual status whether or not the loan is 90 days or more past due. Generally, payments received on nonaccrual loans are recorded as principal reductions. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. | ||||||||||||||||||||||||||||||||||||
The following tables present the aging of past due loans as of March 31, 2014 and December 31, 2013 by class of loans: | ||||||||||||||||||||||||||||||||||||
As of March 31, 2014 | ||||||||||||||||||||||||||||||||||||
Past Due and Accruing | ||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 or More Days Past Due | Total | Nonaccrual Loans (2) | Total Delinquent Loans | |||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Legacy Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 48 | 121 | — | 169 | 4,470 | 4,639 | ||||||||||||||||||||||||||||||
Hotel & motel | 365 | — | — | 365 | 121 | 486 | ||||||||||||||||||||||||||||||
Gas station & car wash | — | — | — | — | 4,117 | 4,117 | ||||||||||||||||||||||||||||||
Mixed use | — | — | — | — | 968 | 968 | ||||||||||||||||||||||||||||||
Industrial & warehouse | — | 214 | — | 214 | 3,110 | 3,324 | ||||||||||||||||||||||||||||||
Other | 13 | — | — | 13 | 906 | 919 | ||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Commercial business | 1,228 | 78 | — | 1,306 | 8,691 | 9,997 | ||||||||||||||||||||||||||||||
Trade finance | — | 32 | — | 32 | 1,263 | 1,295 | ||||||||||||||||||||||||||||||
Consumer and other | 47 | — | — | 47 | 17 | 64 | ||||||||||||||||||||||||||||||
Subtotal | $ | 1,701 | $ | 445 | $ | — | $ | 2,146 | $ | 23,663 | $ | 25,809 | ||||||||||||||||||||||||
Acquired Loans: (1) | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 597 | — | — | 597 | 1,336 | 1,933 | ||||||||||||||||||||||||||||||
Hotel & motel | — | — | — | — | 6,378 | 6,378 | ||||||||||||||||||||||||||||||
Gas station & car wash | 1,061 | — | — | 1,061 | 2,253 | 3,314 | ||||||||||||||||||||||||||||||
Mixed use | 577 | — | — | 577 | 465 | 1,042 | ||||||||||||||||||||||||||||||
Industrial & warehouse | — | — | — | — | 6,424 | 6,424 | ||||||||||||||||||||||||||||||
Other | 1,800 | — | — | 1,800 | 3,522 | 5,322 | ||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial business | 594 | 3 | — | 597 | 2,262 | 2,859 | ||||||||||||||||||||||||||||||
Trade finance | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Consumer and other | 285 | — | — | 285 | 1,011 | 1,296 | ||||||||||||||||||||||||||||||
Subtotal | $ | 4,914 | $ | 3 | $ | — | $ | 4,917 | $ | 23,651 | $ | 28,568 | ||||||||||||||||||||||||
TOTAL | $ | 6,615 | $ | 448 | $ | — | $ | 7,063 | $ | 47,314 | $ | 54,377 | ||||||||||||||||||||||||
(1) | The Acquired Loans exclude ACILs. | |||||||||||||||||||||||||||||||||||
(2) | Nonaccrual loans exclude the guaranteed portion of delinquent SBA loans that are in liquidation totaling $31.3 million. | |||||||||||||||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Past Due and Accruing | ||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 or More Days Past Due | Total | Nonaccrual Loans (2) | Total Delinquent Loans | |||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||||||
Legacy Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 122 | — | — | 122 | 4,363 | 4,485 | ||||||||||||||||||||||||||||||
Hotel & motel | — | — | — | — | 121 | 121 | ||||||||||||||||||||||||||||||
Gas station & car wash | 1,038 | — | — | 1,038 | 2,228 | 3,266 | ||||||||||||||||||||||||||||||
Mixed use | — | — | — | — | 974 | 974 | ||||||||||||||||||||||||||||||
Industrial & warehouse | 215 | — | — | 215 | 1,923 | 2,138 | ||||||||||||||||||||||||||||||
Other | — | — | — | — | 1,398 | 1,398 | ||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Commercial business | 780 | 244 | — | 1,024 | 6,402 | 7,426 | ||||||||||||||||||||||||||||||
Trade finance | — | — | — | — | 1,031 | 1,031 | ||||||||||||||||||||||||||||||
Consumer and other | 54 | 22 | — | 76 | — | 76 | ||||||||||||||||||||||||||||||
Subtotal | $ | 2,209 | $ | 266 | $ | — | $ | 2,475 | $ | 18,440 | $ | 20,915 | ||||||||||||||||||||||||
Acquired Loans: (1) | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 2,024 | — | — | 2,024 | 1,030 | 3,054 | ||||||||||||||||||||||||||||||
Hotel & motel | — | — | — | — | 6,441 | 6,441 | ||||||||||||||||||||||||||||||
Gas station & car wash | 1,068 | — | — | 1,068 | 1,339 | 2,407 | ||||||||||||||||||||||||||||||
Mixed use | 576 | — | — | 576 | — | 576 | ||||||||||||||||||||||||||||||
Industrial & warehouse | 121 | — | — | 121 | 6,890 | 7,011 | ||||||||||||||||||||||||||||||
Other | 516 | 1,729 | — | 2,245 | 1,376 | 3,621 | ||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Commercial business | 524 | 703 | 5 | 1,232 | 2,708 | 3,940 | ||||||||||||||||||||||||||||||
Trade finance | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Consumer and other | 284 | 74 | — | 358 | 930 | 1,288 | ||||||||||||||||||||||||||||||
Subtotal | $ | 5,113 | $ | 2,506 | $ | 5 | $ | 7,624 | $ | 20,714 | $ | 28,338 | ||||||||||||||||||||||||
TOTAL | $ | 7,322 | $ | 2,772 | $ | 5 | $ | 10,099 | $ | 39,154 | $ | 49,253 | ||||||||||||||||||||||||
(1) | The Acquired Loans exclude ACILs. | |||||||||||||||||||||||||||||||||||
(2) Nonaccrual loans exclude guaranteed portion of delinquent SBA loans that are in liquidation totaling $27.5 million. | ||||||||||||||||||||||||||||||||||||
Loans accounted for under ASC 310-30 are generally considered accruing and performing loans and the accretable discount is accreted to interest income over the estimated life of the loan when cash flows are reasonably estimable. Accordingly, ACILs that are contractually past due are still considered to be accruing and performing loans. The loans may be classified as nonaccrual if the timing and amount of future cash flows is not reasonably estimable. | ||||||||||||||||||||||||||||||||||||
We categorize loans into risk categories based on relevant information about the ability of borrowers to service their debt, including, but not limited to, current financial information, historical payment experience, credit documentation, public information, and current economic trends. We analyze loans individually by classifying the loans as to credit risk. This analysis includes all non-homogeneous loans. This analysis is performed at least on a quarterly basis. We use the following definitions for risk ratings: | ||||||||||||||||||||||||||||||||||||
• | Pass: Loans that meet a preponderance or more of the Company's underwriting criteria and evidence an acceptable level of risk. | |||||||||||||||||||||||||||||||||||
• | Special Mention: Loans that have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. | |||||||||||||||||||||||||||||||||||
• | Substandard: Loans that are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the repayment of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||||||||||||
• | Doubtful/Loss: Loans that have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or repayment in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. | |||||||||||||||||||||||||||||||||||
The following tables present the risk rating for Legacy Loans and Acquired Loans as of March 31, 2014 and December 31, 2013 by class of loans: | ||||||||||||||||||||||||||||||||||||
As of March 31, 2014 | ||||||||||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful/Loss | Total | ||||||||||||||||||||||||||||||||
Mention | ||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Legacy Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | 9,004 | $ | — | $ | — | $ | — | $ | 9,004 | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 888,454 | 2,395 | 13,562 | — | 904,411 | |||||||||||||||||||||||||||||||
Hotel & motel | 592,932 | 117 | 7,269 | — | 600,318 | |||||||||||||||||||||||||||||||
Gas station & car wash | 475,483 | — | 10,639 | — | 486,122 | |||||||||||||||||||||||||||||||
Mixed use | 281,152 | 358 | 3,293 | — | 284,803 | |||||||||||||||||||||||||||||||
Industrial & warehouse | 285,848 | 5,364 | 13,273 | — | 304,485 | |||||||||||||||||||||||||||||||
Other | 624,042 | 7,904 | 11,159 | 359 | 643,464 | |||||||||||||||||||||||||||||||
Real estate—construction | 74,433 | — | 1,605 | — | 76,038 | |||||||||||||||||||||||||||||||
Commercial business | 751,270 | 12,701 | 39,920 | 2,973 | 806,864 | |||||||||||||||||||||||||||||||
Trade finance | 99,049 | 23,311 | 10,267 | — | 132,627 | |||||||||||||||||||||||||||||||
Consumer and other | 36,086 | 9 | 542 | — | 36,637 | |||||||||||||||||||||||||||||||
Subtotal | $ | 4,117,753 | $ | 52,159 | $ | 111,529 | $ | 3,332 | $ | 4,284,773 | ||||||||||||||||||||||||||
Acquired Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | 1,081 | $ | 578 | $ | 372 | $ | — | $ | 2,031 | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 218,682 | 9,040 | 28,113 | 243 | 256,078 | |||||||||||||||||||||||||||||||
Hotel & motel | 105,736 | 7,143 | 14,141 | — | 127,020 | |||||||||||||||||||||||||||||||
Gas station & car wash | 29,352 | 1,634 | 14,616 | 250 | 45,852 | |||||||||||||||||||||||||||||||
Mixed use | 31,302 | 1,418 | 5,268 | — | 37,988 | |||||||||||||||||||||||||||||||
Industrial & warehouse | 87,748 | 4,195 | 19,207 | — | 111,150 | |||||||||||||||||||||||||||||||
Other | 122,472 | 6,376 | 16,814 | 572 | 146,234 | |||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial business | 80,706 | 8,810 | 24,364 | 2,282 | 116,162 | |||||||||||||||||||||||||||||||
Trade finance | 3,011 | — | — | — | 3,011 | |||||||||||||||||||||||||||||||
Consumer and other | 47,817 | 2,201 | 11,765 | 475 | 62,258 | |||||||||||||||||||||||||||||||
Subtotal | $ | 727,907 | $ | 41,395 | $ | 134,660 | $ | 3,822 | $ | 907,784 | ||||||||||||||||||||||||||
Total | $ | 4,845,660 | $ | 93,554 | $ | 246,189 | $ | 7,154 | $ | 5,192,557 | ||||||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful/Loss | Total | ||||||||||||||||||||||||||||||||
Mention | ||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Legacy Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | 8,070 | $ | — | $ | — | $ | — | $ | 8,070 | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 842,815 | 858 | 14,365 | — | 858,038 | |||||||||||||||||||||||||||||||
Hotel & motel | 568,263 | 1,841 | 13,661 | — | 583,765 | |||||||||||||||||||||||||||||||
Gas station & car wash | 455,205 | — | 10,854 | — | 466,059 | |||||||||||||||||||||||||||||||
Mixed use | 259,788 | 360 | 3,324 | — | 263,472 | |||||||||||||||||||||||||||||||
Industrial & warehouse | 251,993 | 4,116 | 12,056 | — | 268,165 | |||||||||||||||||||||||||||||||
Other | 589,895 | 3,928 | 11,493 | 359 | 605,675 | |||||||||||||||||||||||||||||||
Real estate—construction | 71,231 | — | 1,626 | — | 72,857 | |||||||||||||||||||||||||||||||
Commercial business | 759,956 | 12,756 | 42,952 | — | 815,664 | |||||||||||||||||||||||||||||||
Trade finance | 91,055 | 22,589 | 9,297 | — | 122,941 | |||||||||||||||||||||||||||||||
Consumer and other | 32,389 | 32 | 535 | — | 32,956 | |||||||||||||||||||||||||||||||
Subtotal | $ | 3,930,660 | $ | 46,480 | $ | 120,163 | $ | 359 | $ | 4,097,662 | ||||||||||||||||||||||||||
Acquired Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | 1,066 | $ | 284 | $ | 619 | $ | — | $ | 1,969 | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 237,325 | 9,319 | 28,128 | 94 | 274,866 | |||||||||||||||||||||||||||||||
Hotel & motel | 109,138 | 7,134 | 14,836 | 179 | 131,287 | |||||||||||||||||||||||||||||||
Gas station & car wash | 35,356 | 1,621 | 14,440 | 245 | 51,662 | |||||||||||||||||||||||||||||||
Mixed use | 32,992 | 1,467 | 5,316 | — | 39,775 | |||||||||||||||||||||||||||||||
Industrial & warehouse | 92,570 | 3,525 | 19,720 | — | 115,815 | |||||||||||||||||||||||||||||||
Other | 133,752 | 6,698 | 21,573 | 560 | 162,583 | |||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial business | 94,854 | 10,266 | 26,245 | 2,064 | 133,429 | |||||||||||||||||||||||||||||||
Trade finance | 1,744 | — | — | — | 1,744 | |||||||||||||||||||||||||||||||
Consumer and other | 51,036 | 2,695 | 7,460 | 4,360 | 65,551 | |||||||||||||||||||||||||||||||
Subtotal | $ | 789,833 | $ | 43,009 | $ | 138,337 | $ | 7,502 | $ | 978,681 | ||||||||||||||||||||||||||
Total | $ | 4,720,493 | $ | 89,489 | $ | 258,500 | $ | 7,861 | $ | 5,076,343 | ||||||||||||||||||||||||||
The adequacy of the allowance for loan losses is determined by management based upon an evaluation and review of the credit quality of the loan portfolio, consideration of historical loan loss experience, relevant internal and external factors that affect the collection of a loan, and other pertinent factors. | ||||||||||||||||||||||||||||||||||||
Migration analysis is a formula methodology derived from the Bank's actual historical net charge off experience for each loan class (type) pool and risk grade. The migration analysis is centered on the Bank's internal credit risk rating system. Management's internal loan review and external contracted credit review examinations are used to determine and validate loan risk grades. This credit review system takes into consideration factors such as: borrower's background and experience; historical and current financial condition; credit history and payment performance; economic conditions and their impact on various industries; type, fair value and volatility of the fair value of collateral; lien position; and the financial strength of any guarantors. | ||||||||||||||||||||||||||||||||||||
A general loan loss allowance is provided on loans not specifically identified as impaired (“non-impaired loans”). The Bank's general loan loss allowance has two components: quantitative and qualitative risk factors. The quantitative risk factors are based on a migration analysis methodology described above. The loans are classified by class and risk grade and the historical loss migration is tracked for the various classes. Loss experience is quantified for a specified period and then weighted to place more significance on the most recent loss history. That loss experience is then applied to the stratified portfolio at each quarter end. For the ACILs, a general loan loss allowance is provided to the extent that there has been credit deterioration since the date of acquisition. | ||||||||||||||||||||||||||||||||||||
Additionally, in order to systematically quantify the credit risk impact of other trends and changes within the loan portfolio, the Bank utilizes qualitative adjustments to the Migration Analysis within established parameters. The parameters for making adjustments are established under a Credit Risk Matrix that provides seven possible scenarios for each of the factors below. The matrix allows for up to three positive (Major, Moderate, and Minor), three negative (Major, Moderate, and Minor), and one neutral credit risk scenarios within each factor for each loan type pool. However, if information exists to warrant adjustment to the Migration Analysis, changes are made in accordance with the established parameters supported by narrative and/or statistical analysis. The Credit Risk Matrix and the nine possible scenarios enable the Bank to qualitatively adjust the Loss Migration Ratio by as much as 50 basis points in either direction (positive or negative) for each loan type pool. This matrix considers the following nine factors, which are patterned after the guidelines provided under the FFIEC Interagency Policy Statement on the Allowance for Loan and Lease Losses: | ||||||||||||||||||||||||||||||||||||
• | Changes in lending policies and procedures, including underwriting standards and collection, charge off, and recovery practices; | |||||||||||||||||||||||||||||||||||
• | Changes in national and local economic and business conditions and developments, including the condition of various market segments; | |||||||||||||||||||||||||||||||||||
• | Changes in the nature and volume of the loan portfolio; | |||||||||||||||||||||||||||||||||||
• | Changes in the experience, ability and depth of lending management and staff; | |||||||||||||||||||||||||||||||||||
• | Changes in the trends of the volume and severity of past due loans, Classified Loans, nonaccrual loans, troubled debt restructurings and other loan modifications; | |||||||||||||||||||||||||||||||||||
• | Changes in the quality of our loan review system and the degree of oversight by the Directors; | |||||||||||||||||||||||||||||||||||
• | Changes in the value of underlying collateral for collateral-dependent loans; | |||||||||||||||||||||||||||||||||||
• | The existence and effect of any concentrations of credit and changes in the level of such concentrations; and | |||||||||||||||||||||||||||||||||||
• | The effect of external factors, such as competition and legal and regulatory requirements, on the level of estimated losses in our loan portfolio. | |||||||||||||||||||||||||||||||||||
The Company also establish specific loss allowances for loans that have identified potential credit risk conditions or circumstances related to a specific individual credit. The specific allowance amounts are determined by a method prescribed by FASB ASC 310-10-35-22, Measurement of Impairment. The loans identified as impaired will be accounted for in accordance with one of the three acceptable valuation methods: 1) the present value of 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. For the collateral dependent impaired loans, management obtains a new appraisal to determine the amount of impairment as of the date that the loan became impaired. The appraisals are based on an “as is” valuation. To ensure that appraised values remain current, management either obtains updated appraisals every twelve months from a qualified independent appraiser or an internal evaluation of the collateral is performed by qualified personnel. If the third party market data indicates that the value of the collateral property has declined since the most recent valuation date, management adjusts the value of the property downward to reflect current market conditions. If the fair value of the collateral, less cost to sell, is less than the recorded amount of the loan, management recognizes impairment by creating or adjusting an existing valuation allowance with a corresponding charge to the provision for loan losses. If an impaired loan is expected to be collected through liquidation of the underlying collateral, the loan is deemed to be collateral dependent and the amount of impairment is charged off against the allowance for loan losses. | ||||||||||||||||||||||||||||||||||||
The Bank considers a loan to be impaired when it is probable that not all amounts due (principal and interest) will be collectible in accordance with the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. The significance of payment delays and payment shortfalls is determined on a case-by-case basis by taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower's prior payment record and the amount of the shortfall in relation to the principal and interest owed. | ||||||||||||||||||||||||||||||||||||
For commercial business loans, real estate loans and certain consumer loans, management bases the measurement of loan impairment on the present value of the expected future cash flows, discounted at the loan's effective interest rate or on the fair value of the loan's collateral, less estimated costs to sell, if the loan is collateral dependent. Management evaluates most consumer loans for impairment on a collective basis because these loans generally have smaller balances and are homogeneous in the underwriting of terms and conditions and in the type of collateral. | ||||||||||||||||||||||||||||||||||||
For ACILs, the allowance for loan losses is based upon expected cash flows for these loans. To the extent that a deterioration in borrower credit quality results in a decrease in expected cash flows subsequent to the acquisition of the loans, an allowance for loan losses would be established based on an estimate of future credit losses over the remaining life of the loans. | ||||||||||||||||||||||||||||||||||||
The following table presents loans by portfolio segment and impairment method at March 31, 2014 and December 31, 2013: | ||||||||||||||||||||||||||||||||||||
As of March 31, 2014 | ||||||||||||||||||||||||||||||||||||
Real Estate— | Real Estate— | Real Estate— | Commercial | Trade | Consumer | Total | ||||||||||||||||||||||||||||||
Residential | Commercial | Construction | Business | Finance | and Other | |||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Impaired loans (gross carrying value) | $ | — | $ | 72,350 | $ | 1,605 | $ | 40,139 | $ | 6,263 | $ | 1,477 | $ | 121,834 | ||||||||||||||||||||||
Specific allowance | $ | — | $ | 4,803 | $ | — | $ | 4,630 | $ | 761 | $ | — | $ | 10,194 | ||||||||||||||||||||||
Loss coverage ratio | 0 | % | 6.6 | % | 0 | % | 11.5 | % | 12.2 | % | — | % | 8.4 | % | ||||||||||||||||||||||
Non-impaired loans | $ | 11,035 | $ | 3,875,575 | $ | 74,433 | $ | 882,887 | $ | 129,375 | $ | 97,418 | $ | 5,070,723 | ||||||||||||||||||||||
General allowance | $ | 25 | $ | 40,030 | $ | 566 | $ | 12,171 | $ | 2,183 | $ | 530 | $ | 55,505 | ||||||||||||||||||||||
Loss coverage ratio | 0.2 | % | 1 | % | 0.8 | % | 1.4 | % | 1.7 | % | 0.5 | % | 1.1 | % | ||||||||||||||||||||||
Total loans | $ | 11,035 | $ | 3,947,925 | $ | 76,038 | $ | 923,026 | $ | 135,638 | $ | 98,895 | $ | 5,192,557 | ||||||||||||||||||||||
Total allowance for loan losses | $ | 25 | $ | 44,833 | $ | 566 | $ | 16,801 | $ | 2,944 | $ | 530 | $ | 65,699 | ||||||||||||||||||||||
Loss coverage ratio | 0.2 | % | 1.1 | % | 0.7 | % | 1.8 | % | 2.2 | % | 0.5 | % | 1.3 | % | ||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Real Estate— | Real Estate— | Real Estate— | Commercial | Trade | Consumer | Total | ||||||||||||||||||||||||||||||
Residential | Commercial | Construction | Business | Finance | and Other | |||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Impaired loans (gross carrying value) | $ | — | $ | 67,544 | $ | 1,625 | $ | 40,106 | $ | 5,692 | $ | 1,302 | $ | 116,269 | ||||||||||||||||||||||
Specific allowance | $ | — | $ | 6,670 | $ | — | $ | 5,805 | $ | 159 | $ | 32 | $ | 12,666 | ||||||||||||||||||||||
Loss coverage ratio | 0 | % | 9.9 | % | 0 | % | 14.5 | % | 2.8 | % | 2.5 | % | 10.9 | % | ||||||||||||||||||||||
Non-impaired loans | $ | 10,039 | $ | 3,753,619 | $ | 71,231 | $ | 908,987 | $ | 118,993 | $ | 97,205 | $ | 4,960,074 | ||||||||||||||||||||||
General allowance | $ | 25 | $ | 39,227 | $ | 628 | $ | 11,787 | $ | 2,494 | $ | 493 | $ | 54,654 | ||||||||||||||||||||||
Loss coverage ratio | 0.2 | % | 1 | % | 0.9 | % | 1.3 | % | 2.1 | % | 0.5 | % | 1.1 | % | ||||||||||||||||||||||
Total loans | $ | 10,039 | $ | 3,821,163 | $ | 72,856 | $ | 949,093 | $ | 124,685 | $ | 98,507 | $ | 5,076,343 | ||||||||||||||||||||||
Total allowance for loan losses | $ | 25 | $ | 45,897 | $ | 628 | $ | 17,592 | $ | 2,653 | $ | 525 | $ | 67,320 | ||||||||||||||||||||||
Loss coverage ratio | 0.2 | % | 1.2 | % | 0.9 | % | 1.9 | % | 2.1 | % | 0.5 | % | 1.3 | % | ||||||||||||||||||||||
Under certain circumstances, the Bank provides borrowers relief through loan modifications. These modifications are either temporary in nature (“temporary modifications”) or are more substantive. At March 31, 2014, total modified loans were $63.8 million, compared to $58.9 million at December 31, 2013. The temporary modifications generally consist of interest only payments for a three to six month period, whereby principal payments are deferred. At the end of the modification period, the remaining principal balance is re-amortized based on the original maturity date. Loans subject to temporary modifications are generally downgraded to Special Mention or Substandard. At the end of the modification period, the loan either 1) returns to the original contractual terms; 2) is further modified and accounted for as a troubled debt restructuring in accordance with ASC 310-10-35; or 3) is disposed of through foreclosure or liquidation. | ||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings (“TDRs”) of loans are defined by ASC 310-40, “Troubled Debt Restructurings by Creditors” and ASC 470-60, “Troubled Debt Restructurings by Debtors” and evaluated for impairment in accordance with ASC 310-10-35. The concessions may be granted in various forms, including reduction in the stated interest rate, reduction in the amount of principal amortization, forgiveness of a portion of a loan balance or accrued interest, or extension of the maturity date. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed on the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Bank's internal underwriting policy. | ||||||||||||||||||||||||||||||||||||
A summary of TDRs on accrual and nonaccrual status by type of concession as of March 31, 2014 and December 31, 2013 is presented below: | ||||||||||||||||||||||||||||||||||||
As of March 31, 2014 | ||||||||||||||||||||||||||||||||||||
TDRs on Accrual | TDRs on Nonaccrual | Total | ||||||||||||||||||||||||||||||||||
Real Estate— | Commercial | Other | Total | Real Estate— | Commercial | Other | Total | |||||||||||||||||||||||||||||
Commercial | Business | Commercial | Business | |||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Payment concession | $ | 7,896 | $ | 810 | $ | — | $ | 8,706 | $ | 9,010 | $ | 2,445 | $ | 761 | $ | 12,216 | $ | 20,922 | ||||||||||||||||||
Maturity / Amortization concession | 1,811 | 9,442 | 717 | 11,970 | 2,382 | 2,124 | 1,263 | 5,769 | 17,739 | |||||||||||||||||||||||||||
Rate concession | 12,473 | 4,378 | — | 16,851 | 8,229 | 28 | — | 8,257 | 25,108 | |||||||||||||||||||||||||||
Principal forgiveness | — | — | — | — | — | 46 | — | 46 | 46 | |||||||||||||||||||||||||||
$ | 22,180 | $ | 14,630 | $ | 717 | $ | 37,527 | $ | 19,621 | $ | 4,643 | $ | 2,024 | $ | 26,288 | $ | 63,815 | |||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||||||
TDRs on Accrual | TDRs on Nonaccrual | Total | ||||||||||||||||||||||||||||||||||
Real Estate— | Commercial | Other | Total | Real Estate— | Commercial | Other | Total | |||||||||||||||||||||||||||||
Commercial | Business | Commercial | Business | |||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Payment concession | $ | 7,437 | $ | 1,057 | $ | — | $ | 8,494 | $ | 9,489 | $ | 1,279 | $ | 767 | $ | 11,535 | $ | 20,029 | ||||||||||||||||||
Maturity / Amortization concession | 765 | 6,565 | 535 | 7,865 | 1,653 | 3,656 | — | 5,309 | 13,174 | |||||||||||||||||||||||||||
Rate concession | 13,055 | 4,490 | — | 17,545 | 8,107 | — | — | 8,107 | 25,652 | |||||||||||||||||||||||||||
Principal forgiveness | — | — | — | — | — | 49 | — | 49 | 49 | |||||||||||||||||||||||||||
$ | 21,257 | $ | 12,112 | $ | 535 | $ | 33,904 | $ | 19,249 | $ | 4,984 | $ | 767 | $ | 25,000 | $ | 58,904 | |||||||||||||||||||
TDRs on accrual status are comprised of loans that were accruing at the time of restructuring and for which the Bank anticipates full repayment of both principal and interest under the restructured terms. TDRs that are on nonaccrual status can be returned to accrual status after a period of sustained performance, generally determined to be six months of timely payments as modified. Sustained performance includes the periods prior to the modification if the prior performance met or exceeded the modified terms. TDRs on accrual status at March 31, 2014 were comprised of 17 commercial real estate loans totaling $22.2 million, 28 commercial business loans totaling $14.6 million, and 3 consumer loans totaling $718 thousand. TDRs on accrual status at December 31, 2013 were comprised of 15 commercial real estate loans totaling $21.3 million, 28 commercial business loans totaling $12.1 million and 2 consumer loans totaling $535 thousand. The Company expects that the TDRs on accrual status as of March 31, 2014, which were all performing in accordance with their restructured terms, to continue to comply with the restructured terms because of the reduced principal or interest payments on these loans. TDRs that were restructured at market interest rates and had sustained performance as agreed under the modified loan terms may be reclassified as non-TDRs after each year end but are reserved for under ASC 310-10. | ||||||||||||||||||||||||||||||||||||
The Company has allocated $4.4 million and $6.6 million of specific reserves to TDRs as of March 31, 2014 and December 31, 2013, respectively. As of March 31, 2014 and December 31, 2013, there were no outstanding commitments to extend additional funds to these borrowers. | ||||||||||||||||||||||||||||||||||||
The following table presents loans by class modified as TDRs that occurred during the three months ended March 31, 2014: | ||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||||||||||||
Number of | Pre- | Post- | ||||||||||||||||||||||||||||||||||
Loans | Modification | Modification | ||||||||||||||||||||||||||||||||||
(Dollars in thousand) | ||||||||||||||||||||||||||||||||||||
Legacy Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | — | $ | — | $ | — | |||||||||||||||||||||||||||||||
Hotel & motel | — | — | — | |||||||||||||||||||||||||||||||||
Gas station & car wash | — | — | — | |||||||||||||||||||||||||||||||||
Mixed use | — | — | — | |||||||||||||||||||||||||||||||||
Industrial & warehouse | — | — | — | |||||||||||||||||||||||||||||||||
Other | 1 | 1,023 | 1,018 | |||||||||||||||||||||||||||||||||
Real estate - construction | — | — | — | |||||||||||||||||||||||||||||||||
Commercial business | 2 | 296 | 121 | |||||||||||||||||||||||||||||||||
Trade finance | — | — | — | |||||||||||||||||||||||||||||||||
Consumer and other | 1 | 195 | 192 | |||||||||||||||||||||||||||||||||
Subtotal | 4 | $ | 1,514 | $ | 1,331 | |||||||||||||||||||||||||||||||
Acquired Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | — | $ | — | $ | — | |||||||||||||||||||||||||||||||
Hotel & motel | — | — | — | |||||||||||||||||||||||||||||||||
Gas station & car wash | — | — | — | |||||||||||||||||||||||||||||||||
Mixed use | — | — | — | |||||||||||||||||||||||||||||||||
Industrial & warehouse | 1 | 756 | 812 | |||||||||||||||||||||||||||||||||
Other | 1 | 240 | 240 | |||||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | |||||||||||||||||||||||||||||||||
Commercial business | 7 | 4,483 | 4,639 | |||||||||||||||||||||||||||||||||
Trade finance | 1 | 92 | 380 | |||||||||||||||||||||||||||||||||
Subtotal | 10 | $ | 5,571 | $ | 6,071 | |||||||||||||||||||||||||||||||
14 | $ | 7,085 | $ | 7,402 | ||||||||||||||||||||||||||||||||
The specific reserves for the TDRs that occurred during the three months ended March 31, 2014 totaled $535 thousand and there were $18 thousand in charge offs for the three months ended March 31, 2014. | ||||||||||||||||||||||||||||||||||||
The following table presents loans by class for TDRs that have been modified within the previous twelve months and have subsequently had a payment default during the three months ended March 31, 2014: | ||||||||||||||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||||||||||||||
Number of Loans | Balance | |||||||||||||||||||||||||||||||||||
(Dollars In thousands) | ||||||||||||||||||||||||||||||||||||
Legacy Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | — | $ | — | |||||||||||||||||||||||||||||||||
Gas station & car wash | — | — | ||||||||||||||||||||||||||||||||||
Industrial & warehouse | — | — | ||||||||||||||||||||||||||||||||||
Other | — | — | ||||||||||||||||||||||||||||||||||
Commercial business | 2 | 536 | ||||||||||||||||||||||||||||||||||
Subtotal | 2 | $ | 536 | |||||||||||||||||||||||||||||||||
Acquired Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 2 | $ | 268 | |||||||||||||||||||||||||||||||||
Gas station & car wash | — | — | ||||||||||||||||||||||||||||||||||
Hotel & motel | — | — | ||||||||||||||||||||||||||||||||||
Industrial & warehouse | — | — | ||||||||||||||||||||||||||||||||||
Other | — | — | ||||||||||||||||||||||||||||||||||
Commercial business | 2 | 44 | ||||||||||||||||||||||||||||||||||
Subtotal | 4 | $ | 312 | |||||||||||||||||||||||||||||||||
6 | $ | 848 | ||||||||||||||||||||||||||||||||||
A loan is considered to be in payment default once it is 30 days contractually past due under the modified terms. As of March 31, 2014, the specific reserves totaled $45 thousand for the TDRs that had payment defaults during the three months ended March 31, 2014. The total charge offs for the TDRs that had payment defaults during the three months ended March 31, 2014 were $480 thousand. | ||||||||||||||||||||||||||||||||||||
There were two Commercial Business Legacy Loans that defaulted during the three months ended March 31, 2014. The loans totaled $536 thousand and were modified through a maturity/amortization concession. | ||||||||||||||||||||||||||||||||||||
There were four Acquired Loans that defaulted during the three months ended March 31, 2014 which were modified as follows: two Commercial Business loans totaling $44 thousand were modified through payment concessions and two Real Estate Commercial loans totaling $268 thousand were modified through payment concessions. | ||||||||||||||||||||||||||||||||||||
Covered Assets | ||||||||||||||||||||||||||||||||||||
On April 16, 2010, the Department of Financial Institutions closed Innovative Bank, California, and appointed the FDIC as its receiver. On the same date, the Bank assumed the banking operations of Innovative Bank from the FDIC under a purchase and assumption agreement and two related loss sharing agreements with the FDIC. | ||||||||||||||||||||||||||||||||||||
Covered nonperforming assets totaled $2.0 million and $826 thousand at March 31, 2014 and December 31, 2013, respectively. These covered nonperforming assets are subject to the loss sharing agreements with the FDIC. The covered nonperforming assets at March 31, 2014 and December 31, 2013 were as follows: | ||||||||||||||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Covered loans on nonaccrual status | $ | 1,400 | $ | 236 | ||||||||||||||||||||||||||||||||
Covered OREO | 590 | 590 | ||||||||||||||||||||||||||||||||||
Total covered nonperforming assets | $ | 1,990 | $ | 826 | ||||||||||||||||||||||||||||||||
Acquired covered loans | $ | 54,229 | $ | 55,088 | ||||||||||||||||||||||||||||||||
Related Party Loans | ||||||||||||||||||||||||||||||||||||
In the ordinary course of business, the Company enters into loan transactions with certain of its directors or associates of such directors (“Related Parties”). The loans to Related Parties are on substantially the same terms and conditions, including interest rates and collateral, as those prevailing at the same time for comparable transactions with unrelated parties. In management’s opinion, these transactions did not involve more than normal credit risk or present other unfavorable features. All loans to Related Parties were current as of March 31, 2014 and December 31, 2013, and the outstanding principal balance as of March 31, 2014 and December 31, 2013 was $5.0 million and $3.9 million, respectively. |
Borrowings
Borrowings | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Borrowings | ' | |||||||
Borrowings | ||||||||
The Company maintains a secured credit facility with the FHLB against which the Bank may take advances. The borrowing capacity is limited to the lower of 30% of the Bank’s total assets or the Bank’s collateral capacity, which was $1.85 billion at March 31, 2014 and $1.78 billion at December 31, 2013. The terms of this credit facility require the Company to pledge eligible collateral with the FHLB equal to at least 100% of outstanding advances. | ||||||||
At March 31, 2014 and December 31, 2013, real estate secured loans with a carrying amount of approximately $2.44 billion and $2.33 billion, respectively, were pledged as collateral for borrowings from the FHLB. At March 31, 2014 and December 31, 2013, other than FHLB stock, securities with a carrying value of $1.3 million and $13.2 million, respectively, were pledged as collateral for borrowings from the FHLB. | ||||||||
At March 31, 2014 and December 31, 2013, FHLB advances were $421.3 million and $421.4 million, respectively, had a weighted average interest rate of 1.16% and 1.16%, respectively, and had various maturities through November 2018. At March 31, 2014 and December 31, 2013, $51.3 million and $51.4 million, respectively, of the advances were putable advances with various putable dates and strike prices. The cost of FHLB advances as of March 31, 2014 ranged between 0.47% and 3.81%. At March 31, 2014, the Company had a remaining borrowing capacity of $1.44 billion. | ||||||||
At March 31, 2014, the contractual maturities for FHLB advances were as follows: | ||||||||
Contractual | Maturity/ | |||||||
Maturities | Put Date | |||||||
(In thousands) | ||||||||
Due within one year | $ | 30,000 | $ | 51,260 | ||||
Due after one year through five years | 391,260 | 370,000 | ||||||
$ | 421,260 | $ | 421,260 | |||||
In addition, as a member of the FRB system, the Bank may also borrow from the FRB of San Francisco. The maximum amount that the Bank may borrow from the FRB’s discount window is up to 95% of the outstanding principal balance of the qualifying loans and the fair value of the securities that are pledged. At March 31, 2014, the outstanding principal balance of the qualifying loans was $656.3 million, and the collateral value of investment securities were $1.9 million. There were no borrowings outstanding against this line as of March 31, 2014 and December 31, 2013. |
Subordinated_Debentures
Subordinated Debentures | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Subordinated Borrowings [Abstract] | ' | ||||||||||||||||||||
Subordinated Debentures | ' | ||||||||||||||||||||
Subordinated Debentures | |||||||||||||||||||||
At March 31, 2014, four wholly-owned subsidiary grantor trusts established by former Nara Bancorp had issued $28 million of pooled Trust Preferred Securities (“trust preferred securities”) and one wholly-owned subsidiary grantor trust established by former Center Financial Corporation had issued $18 million of trust preferred securities. Upon the acquisition of PIB, the Company assumed one grantor trust established by former PIB which issued $15 million of trust preferred securities, which the Company redeemed on June 17, 2013. Upon the acquisition of Foster, the Company assumed one grantor trust established by former Foster Bank which issued $15 million of trust preferred securities, which the Company redeemed on March 14, 2014. Trust preferred securities accrue and pay distributions periodically at specified annual rates as provided in the indentures. The trusts used the net proceeds from the offering to purchase a like amount of subordinated debentures (the “Debentures”) of BBCN Bancorp. The Debentures are the sole assets of the trusts. BBCN Bancorp’s obligations under the subordinated debentures and related documents, taken together, constitute a full and unconditional guarantee by BBCN Bancorp of the obligations of the trusts. The trust preferred securities are mandatorily redeemable upon the maturity of the Debentures, or upon earlier redemption as provided in the indentures. BBCN Bancorp has the right to redeem the Debentures in whole (but not in part) on or after specific dates, at a redemption price specified in the indentures plus any accrued but unpaid interest to the redemption date. BBCN Bancorp also has a right to defer consecutive payments of interest on the debentures for up to five years. | |||||||||||||||||||||
The following table is a summary of trust preferred securities and Debentures at March 31, 2014: | |||||||||||||||||||||
Issuance Trust | Issuance | Trust | Subordinated | Rate | Initial | Coupon Rate at | Maturity | ||||||||||||||
Date | Preferred | Debentures | Type | Rate | 31-Mar-14 | Date | |||||||||||||||
Security | Amount | ||||||||||||||||||||
Amount | |||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Nara Capital Trust III | 6/5/03 | $ | 5,000 | $ | 5,155 | Variable | 4.44 | % | 3.38 | % | 6/15/33 | ||||||||||
Nara Statutory Trust IV | 12/22/03 | 5,000 | 5,155 | Variable | 4.02 | % | 3.09 | % | 1/7/34 | ||||||||||||
Nara Statutory Trust V | 12/17/03 | 10,000 | 10,310 | Variable | 4.12 | % | 3.18 | % | 12/17/33 | ||||||||||||
Nara Statutory Trust VI | 3/22/07 | 8,000 | 8,248 | Variable | 7 | % | 1.88 | % | 6/15/37 | ||||||||||||
Center Capital Trust I | 12/30/03 | 18,000 | 13,169 | Variable | 4.01 | % | 3.09 | % | (1) | 1/7/34 | |||||||||||
TOTAL ISSUANCE | $ | 46,000 | $ | 42,037 | |||||||||||||||||
(1) The Center Capital Trust I trust preferred security was assumed in the merger with Center Financial Corporation. The remaining discount | |||||||||||||||||||||
was $5.4 million at March 31, 2014 and the effective rate of the security, including the effect of the discount accretion, was 5.31% at | |||||||||||||||||||||
March 31, 2014. | |||||||||||||||||||||
The Company’s investment in the common trust securities of the issuer trusts of $1.6 million and $1.9 million at March 31, 2014 and December 31, 2013, respectively, is included in other assets. Although the subordinated debt issued by the trusts are not included as a component of stockholders' equity in the consolidated balance sheets, the debt is treated as capital for regulatory purposes. The trust preferred security debt issuances are includable in Tier I capital up to a maximum of 25% of capital on an aggregate basis. Any amount that exceeds 25% qualifies as Tier 2 capital. At March 31, 2014, $40.6 million of the trusts’ securities qualified as Tier 1 capital. In July 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) was signed into law which, among other things, limits the ability of bank holding companies with total assets of more than $15 billion to treat trust preferred security debt issuances as Tier 1 capital. Since the Company had less than $15 billion in assets at March 31, 2014, we will be able to continue to include its existing trust preferred securities in Tier 1 capital under the Dodd-Frank Act. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets | 3 Months Ended | |||||||||
Mar. 31, 2014 | ||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||
Goodwill and Other Intangible Assets | ' | |||||||||
Goodwill and Other Intangible Assets | ||||||||||
The carrying amount of the Company's goodwill as of March 31, 2014 and December 31, 2013 was $105.4 million for both periods. There was no impairment of Goodwill during the three month periods ended March 31, 2014 and 2013. | ||||||||||
Core deposit intangible assets are amortized over their estimated lives, which range from seven to ten years. The Company acquired, through the acquisitions of PIB and Foster during the first and third quarters of 2013, respectively, core deposit intangibles, which totaled $603 thousand and $2.8 million, respectively. Amortization expense related to core deposit intangible assets totaled $324 thousand and $228 thousand for the three months ended March 31, 2014 and 2013, respectively. The following table provides information regarding the core deposit intangibles at March 31, 2014: | ||||||||||
As of March 31, 2014 | ||||||||||
Gross | Accumulated | |||||||||
Carrying | Amortization | |||||||||
Amount | ||||||||||
Intangible assets: | Amortization | |||||||||
period | ||||||||||
Core deposit—Center Financial Corporation acquisition | 7 years | $ | 4,100 | $ | (2,145 | ) | ||||
Core deposit—PIB acquisition | 7 years | 603 | (171 | ) | ||||||
Core deposit—Foster acquisition | 10 years | 2,763 | (291 | ) | ||||||
Total | $ | 7,466 | $ | (2,607 | ) | |||||
Income_Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
Income Taxes | |
The Company and its subsidiaries are subject to U.S. federal income tax, as well as state income taxes. The Company had total unrecognized tax benefits of $1.3 million and $1.3 million at March 31, 2014 and December 31, 2013, respectively, that relate primarily to uncertainties related to California enterprise zone loan interest deductions. | |
Management does not expect the total amount of unrecognized tax benefits to significantly change in the next twelve months. | |
The statute of limitations related to the consolidated Federal income tax return is closed for all tax years up to and including 2009. The expiration of the statute of limitations related to the various state income and franchise tax returns varies by state. The Company is currently under examination by the Internal Revenue Service ("IRS") for the 2011 tax year and by the California Franchise Tax Board (FTB) for the 2009 and 2010 tax years. While the outcome of the examinations is unknown, the Company expects no material adjustments. | |
Interest and penalties related to income tax matters are recognized in income tax expense. The Company recorded approximately $65 thousand and $58 thousand for accrued interest and penalties at March 31, 2014 and December 31, 2013, respectively. | |
Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. | |
Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion, or all, of the deferred tax asset will not be realized. In assessing the realization of deferred tax assets, management evaluates both positive and negative evidence, including the existence of any cumulative losses in the current year and the prior two years, the amount of taxes paid in available carry-back years, the forecasts of future income, applicable tax planning strategies, and assessments of current and future economic and business conditions. This analysis is updated quarterly and adjusted as necessary. Based on the analysis, the Company has determined that a valuation allowance for deferred tax assets was not required as of March 31, 2014. |
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | |||||||||||||||
Mar. 31, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
Fair Value Measurements | ||||||||||||||||
FASB ASC 820, Fair Value Measurements and Disclosures, establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: | ||||||||||||||||
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; or other inputs that are observable or can be corroborated by observable market data. | |||||||||||||||
Level 3: | Significant unobservable inputs that reflect estimates of assumptions that market participants would use in pricing the asset or liability. | |||||||||||||||
Securities Available for Sale | ||||||||||||||||
The fair values of securities available for sale are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs) or matrix pricing, which is a technique widely used 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 (Level 2 inputs). | ||||||||||||||||
The fair values of the Company's Level 3 securities available for sale were measured using an income approach valuation technique. The primary inputs and assumptions used in the fair value measurement were derived from the securities' underlying collateral, which included discount rates, prepayment speeds, payment delays, and an assessment of the risk of default of the underlying collateral, among other factors. Significant increases or decreases in any of the inputs or assumptions would result in a significant increase or decrease in the fair value measurement. | ||||||||||||||||
Impaired Loans | ||||||||||||||||
The fair values of impaired loans are generally measured for impairment using the practical expedients permitted by FASB ASC 310-10-35 including impaired loans measured at an observable market price (if available), or at the fair value of the loan’s collateral (if the loan is collateral dependent). Fair value of the loan’s collateral, when the loan is dependent on collateral, is determined by appraisals or independent valuation, less costs to sell and result in a Level 2. | ||||||||||||||||
OREO | ||||||||||||||||
OREO is fair valued at the time the loan is foreclosed upon and the asset is transferred to OREO. The value 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. OREO is reviewed and evaluated on at least an annual basis for additional impairment and adjusted to lower of cost or market accordingly, based on the same factors identified above. | ||||||||||||||||
Loans held for sale | ||||||||||||||||
Loans held for sale are carried at the lower of cost or fair value, as determined by outstanding commitments from investors, or based on recent comparable sales (Level 2 inputs), if available, and if not available, are based on discounted cash flows using current market rates applied to the estimated life and credit risk (Level 3 inputs) or may be assessed based upon the fair value of the collateral, which is obtained from recent real estate appraisals (Level 3 inputs). These appraisals may utilize a single valuation approach or a combination of approaches including the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in Level 3 classification of the inputs for determining fair value. | ||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis are summarized below: | ||||||||||||||||
Fair Value Measurements at the End of the Reporting Period Using | ||||||||||||||||
March 31, 2014 | Quoted Prices | Significant | Significant | |||||||||||||
in Active | Other | Unobservable | ||||||||||||||
Markets for | Observable | Inputs | ||||||||||||||
Identical Assets | Inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||
(In thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Securities available for sale: | ||||||||||||||||
GSE collateralized mortgage obligations | $ | 279,354 | $ | — | $ | 279,354 | $ | — | ||||||||
GSE mortgage-backed securities | 418,961 | — | 418,961 | — | ||||||||||||
Trust preferred securities | 3,800 | — | 3,800 | — | ||||||||||||
Municipal bonds | 6,019 | — | 4,887 | 1,132 | ||||||||||||
Mutual funds | 17,095 | 17,095 | — | — | ||||||||||||
Fair Value Measurements at the End of the Reporting Period Using | ||||||||||||||||
December 31, 2013 | Quoted Prices | Significant | Significant | |||||||||||||
in Active | Other | Unobservable | ||||||||||||||
Markets for | Observable | Inputs | ||||||||||||||
Identical Assets | Inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||
(In thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Securities available for sale: | ||||||||||||||||
GSE collateralized mortgage obligations | $ | 274,101 | $ | — | $ | 274,101 | $ | — | ||||||||
GSE mortgage-backed securities | 404,996 | — | 404,996 | — | ||||||||||||
Trust preferred securities | 3,697 | — | 3,697 | — | ||||||||||||
Municipal bonds | 5,936 | — | 4,824 | 1,112 | ||||||||||||
Mutual funds | 17,021 | 17,021 | — | — | ||||||||||||
There were no transfers between Level 1, 2 and 3 during the period ended March 31, 2014 and 2013. There were no gains or losses recognized in earnings | ||||||||||||||||
The table below presents a reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2014: | ||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
(In thousands) | ||||||||||||||||
Beginning Balance, January 1 | $ | 1,112 | $ | — | ||||||||||||
Purchases, issuances and settlements | — | 1,200 | ||||||||||||||
Amortization | — | — | ||||||||||||||
Total gains or (losses) included in earnings | — | — | ||||||||||||||
Total gains or (losses) included in other comprehensive income | 20 | 6 | ||||||||||||||
Ending Balance, March 31 | $ | 1,132 | $ | 1,206 | ||||||||||||
Assets measured at fair value on a non-recurring basis are summarized below: | ||||||||||||||||
Fair Value Measurements at the End of the Reporting Period Using | ||||||||||||||||
March 31, 2014 | Quoted Prices | Significant | Significant | |||||||||||||
in Active | Other | Unobservable | ||||||||||||||
Markets for | Observable | Inputs | ||||||||||||||
Identical Assets | Inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||
(In thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Impaired loans at fair value: | ||||||||||||||||
Real estate loans | $ | 34,075 | $ | — | $ | 34,075 | $ | — | ||||||||
Commercial business | 3,504 | — | 3,504 | — | ||||||||||||
Trade finance | 385 | — | 385 | — | ||||||||||||
Consumer | 952 | — | 952 | — | ||||||||||||
Loans held for sale, net | 34 | — | 34 | — | ||||||||||||
OREO | 5,039 | — | 5,039 | — | ||||||||||||
Fair Value Measurements at the End of the Reporting Period Using | ||||||||||||||||
December 31, 2013 | Quoted Prices | Significant | Significant | |||||||||||||
in Active | Other | Unobservable | ||||||||||||||
Markets for | Observable | Inputs | ||||||||||||||
Identical Assets | Inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||
(In thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Impaired loans at fair value: | ||||||||||||||||
Real estate loans | $ | 18,746 | $ | — | $ | 18,746 | $ | — | ||||||||
Commercial business | 2,383 | — | 2,383 | — | ||||||||||||
Loans held for sale, net | 6,900 | — | 6,900 | — | ||||||||||||
OREO | 4,003 | — | 4,003 | — | ||||||||||||
For assets measured at fair value on a non-recurring basis, the total net (losses) gains, which include charge offs, recoveries, specific reserves, and gains and losses on sales recognized are summarized below: | ||||||||||||||||
For the three months ended March 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
(In thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Impaired loans at fair value: | ||||||||||||||||
Real estate loans | $ | 1,704 | $ | (7,584 | ) | |||||||||||
Commercial business | (10,715 | ) | 535 | |||||||||||||
Trade Finance | (659 | ) | — | |||||||||||||
Consumer | (46 | ) | — | |||||||||||||
OREO | (11 | ) | (114 | ) | ||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||
Carrying amounts and estimated fair values of financial instruments, not previously presented, at March 31, 2014 and December 31, 2013 were as follows: | ||||||||||||||||
March 31, 2014 | ||||||||||||||||
Carrying | Estimated | Fair Value Measurement Using | ||||||||||||||
Amount | Fair Value | |||||||||||||||
(In thousands) | ||||||||||||||||
Financial Assets: | ||||||||||||||||
Cash and cash equivalents | $ | 403,111 | $ | 403,111 | Level 1 | |||||||||||
Loans held for sale | 38,157 | 40,065 | Level 2 | |||||||||||||
Loans receivable—net | 5,125,095 | 5,569,266 | Level 3 | |||||||||||||
FDIC loss share receivable | 253 | 253 | Level 3 | |||||||||||||
Customers’ liabilities on acceptances | 4,473 | 4,473 | Level 2 | |||||||||||||
Financial Liabilities: | ||||||||||||||||
Noninterest bearing deposits | $ | 1,442,348 | $ | 1,442,348 | Level 2 | |||||||||||
Saving and other interest bearing demand deposits | 1,602,514 | 1,602,514 | Level 2 | |||||||||||||
Time deposits | 2,289,698 | 2,294,381 | Level 2 | |||||||||||||
FHLB advances | 421,260 | 421,059 | Level 2 | |||||||||||||
Subordinated debentures | 42,037 | 44,012 | Level 2 | |||||||||||||
Bank’s liabilities on acceptances outstanding | 4,473 | 4,473 | Level 2 | |||||||||||||
December 31, 2013 | ||||||||||||||||
Carrying | Estimated | Fair Value Measurement Using | ||||||||||||||
Amount | Fair Value | |||||||||||||||
(In thousands) | ||||||||||||||||
Financial Assets: | ||||||||||||||||
Cash and cash equivalents | $ | 316,705 | $ | 316,705 | Level 1 | |||||||||||
Loans held for sale | 44,115 | 45,975 | Level 2 | |||||||||||||
Loans receivable—net | 5,006,856 | 5,450,008 | Level 3 | |||||||||||||
FDIC loss share receivable | 1,110 | 1,110 | Level 3 | |||||||||||||
Customers’ liabilities on acceptances | 5,602 | 5,602 | Level 2 | |||||||||||||
Financial Liabilities: | ||||||||||||||||
Noninterest bearing deposits | $ | 1,399,454 | $ | 1,399,454 | Level 2 | |||||||||||
Saving and other interest bearing demand deposits | 1,598,514 | 1,598,514 | Level 2 | |||||||||||||
Time deposits | 2,150,089 | 2,156,514 | Level 2 | |||||||||||||
FHLB advances | 421,352 | 421,258 | Level 2 | |||||||||||||
Subordinated debentures | 57,410 | 56,544 | Level 2 | |||||||||||||
Bank’s liabilities on acceptances outstanding | 5,602 | 5,602 | Level 2 | |||||||||||||
The methods and assumptions used to estimate fair value are described as follows: | ||||||||||||||||
The carrying amount is the estimated fair value for cash and cash equivalents, savings and other interest bearing demand deposits, accrued interest receivable and payable, customer’s and Bank’s liabilities on acceptances, noninterest bearing deposits, short-term debt, secured borrowings and variable rate loans or deposits that reprice frequently and fully. For fixed rate loans or deposits and for variable rate loans or deposits with infrequent repricing or repricing limits, fair value is based on discounted cash flows using current market rates applied to the estimated life and credit risk. The allowance for loan losses is considered to be a reasonable estimate of discount for credit quality concerns. Fair value of SBA loans held for sale is based on market quotes. For fair value of non-SBA loans held for sale, see the measurement method discussed previously. Fair value of time deposits and debt is based on current rates for similar financing. It was not practicable to determine the fair value of FRB stock or FHLB stock due to restrictions placed on their transferability. The fair value of commitments to fund loans represents fees currently charged to enter into similar agreements with similar remaining maturities and is not presented herein. The fair value of these financial instruments is not material to the consolidated financial statements. |
Stockholders_Equity_and_Regula
Stockholders' Equity and Regulatory Matters | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Stockholders’ Equity and Regulatory Matters [Abstract] | ' | ||||||||||||||||||||
Stockholders’ Equity and Regulatory Matters | ' | ||||||||||||||||||||
Stockholders’ Equity and Regulatory Matters | |||||||||||||||||||||
In June 2012, the Company redeemed all of the Fixed Rate Cumulative Perpetual Preferred Stock issued under the U.S. Treasury Department's TARP Capital Purchase Program. As of March 31, 2014, a warrant held by the U.S. Treasury Department for the purchase of 342,610 shares of the Company's common stock remains outstanding. | |||||||||||||||||||||
In conjunction with the acquisition of PIB, the Company assumed a warrant (related to the TARP Capital Purchase Plan) to purchase shares of its common stock. At the acquisition date, the warrants were canceled and converted into a warrant to purchase BBCN Bancorp common stock which expires on December 12, 2018. As of March 31, 2014, the U.S. Treasury Department held the warrant for the purchase of 18,392 shares of the Company's common stock. | |||||||||||||||||||||
The Company's Board of Directors declared quarterly dividends of $0.075 per common share for the first quarter of 2014, which was an increase over the quarterly dividends of $0.05 per common share for the first quarter of 2013. The dividends for the first quarter of 2014 will be payable on or about May 16, 2014 to all stockholders of record as of May 2, 2014. | |||||||||||||||||||||
The Company and the Bank are subject to various regulatory capital requirements administered by the federal and state banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material and adverse effect on the Company’s and the Bank’s financial statements, such as restrictions on the growth, expansion or the payment of dividends or other capital distributions or management fees. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. | |||||||||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum ratios (set forth in the table below) of total and Tier I capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier I capital (as defined) to average assets (as defined). Management believes that, as of March 31, 2014 and December 31, 2013, the Company and the Bank met all capital adequacy requirements to which they are subject. | |||||||||||||||||||||
As of March 31, 2014 and December 31, 2013, the most recent regulatory notification categorized the Bank as "well-capitalized" under the regulatory framework for prompt corrective action. To be categorized as "well-capitalized", the Bank must maintain minimum total risk-based, Tier I risk-based and Tier I leverage ratios as set forth in the table below. There are no conditions or events since the notification that management believes have changed the Bank’s category. | |||||||||||||||||||||
The Company’s and the Bank’s actual capital amounts and ratios are presented in the table below: | |||||||||||||||||||||
Actual | Required | Required | |||||||||||||||||||
For Capital | To Be Well | ||||||||||||||||||||
Adequacy Purposes | Capitalized under | ||||||||||||||||||||
Prompt Corrective | |||||||||||||||||||||
Action Provisions | |||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
As of March 31, 2014 | |||||||||||||||||||||
Total capital (to risk-weighted assets): | |||||||||||||||||||||
Company | $ | 830,822 | 14.89 | % | $ | 446,256 | 8 | % | N/A | N/A | |||||||||||
Bank | $ | 815,512 | 14.63 | % | $ | 446,023 | 8 | % | $ | 557,528 | 10 | % | |||||||||
Tier I capital (to risk-weighted assets): | |||||||||||||||||||||
Company | $ | 764,197 | 13.7 | % | $ | 223,128 | 4 | % | N/A | N/A | |||||||||||
Bank | $ | 748,887 | 13.43 | % | $ | 223,011 | 4 | % | $ | 334,517 | 6 | % | |||||||||
Tier I capital (to average assets): | |||||||||||||||||||||
Company | $ | 764,197 | 11.88 | % | $ | 257,227 | 4 | % | N/A | N/A | |||||||||||
Bank | $ | 748,887 | 11.66 | % | $ | 256,934 | 4 | % | $ | 321,168 | 5 | % | |||||||||
Actual | Required | Required | |||||||||||||||||||
For Capital | To Be Well | ||||||||||||||||||||
Adequacy Purposes | Capitalized under | ||||||||||||||||||||
Prompt Corrective | |||||||||||||||||||||
Action Provisions | |||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||
Total capital (to risk-weighted assets): | |||||||||||||||||||||
Company | $ | 819,408 | 14.9 | % | $ | 439,687 | 8 | % | N/A | N/A | |||||||||||
Bank | $ | 807,620 | 14.7 | % | $ | 439,437 | 8 | % | $ | 549,471 | 10 | % | |||||||||
Tier I capital (to risk-weighted assets): | |||||||||||||||||||||
Company | $ | 751,204 | 13.66 | % | $ | 219,844 | 4 | % | N/A | N/A | |||||||||||
Bank | $ | 739,416 | 13.46 | % | $ | 219,798 | 4 | % | $ | 329,683 | 6 | % | |||||||||
Tier I capital (to average assets): | |||||||||||||||||||||
Company | $ | 751,204 | 11.97 | % | $ | 251,049 | 4 | % | N/A | N/A | |||||||||||
Bank | $ | 739,416 | 11.79 | % | $ | 250,954 | 4 | % | $ | 313,687 | 5 | % | |||||||||
The following table presents the components of accumulated other comprehensive loss at March 31, 2014 and December 31, 2013: | |||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Net unrealized loss on securities available for sale | $ | (3,826 | ) | $ | (10,264 | ) | |||||||||||||||
Net unrealized gain on interest-only strips | 85 | 79 | |||||||||||||||||||
Total accumulated other comprehensive loss | $ | (3,741 | ) | $ | (10,185 | ) |
Basis_of_Presentation_Basis_of
Basis of Presentation Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2014 | |
Basis Of Presentation [Abstract] | ' |
Consolidation | ' |
The condensed consolidated financial statements include the accounts of BBCN Bancorp and its wholly-owned subsidiaries, principally BBCN Bank. All intercompany transactions and balances have been eliminated in consolidation. | |
The Company has made all adjustments, consisting solely of normal recurring accruals, that in the opinion of management, are necessary to fairly present the Company's financial position at March 31, 2014 and the results of operations for the three months then ended. The results of operations for the interim periods are not necessarily indicative of results to be anticipated for the full year. | |
Use of estimates | ' |
The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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 that are susceptible to change in the near term relate to the determination of the allowance and provision for loan losses, the evaluation of other than temporary impairment of investment securities, accounting for derivatives and hedging activities, the determination of the carrying value for cash surrender value of life insurance, the determination of the carrying value of goodwill and other intangible assets, accounting for deferred tax assets and related valuation allowances, the determination of the fair values of investment securities and other financial instruments, accounting for lease arrangements, accounting for incentive compensation, profit sharing and bonus payments, the valuation of servicing assets, and the determination of the fair values of acquired assets and liabilities including the fair value of loans acquired with credit deterioration. | |
New accounting pronouncements | ' |
Recent Accounting Pronouncements: | |
FASB ASU No. 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The provisions of ASU No. 2013-11 require an entity to present an unrecognized tax benefit, or portion thereof, in the statement of financial position as a reduction to a deferred tax asset for a net operating loss carryforward or a tax credit carryforward, with certain exceptions related to availability. ASU No. 2013-11 is effective for interim and annual reporting periods beginning after December 15, 2013. The adoption of ASU No. 2013-11 did not have a material impact on the Company's consolidated financial statements. | |
FASB ASU No. 2014-04, Receivables—Troubled Debt Restructuring by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure. The amendment intends to clarify the terms defining when an in substance foreclosure occurs, which determines when the receivable should be derecognized and the real estate property recognized. ASU No. 2014-04 will be effective for interim and annual periods beginning after December 31, 2014. ASU No. 2014-04 is not expected to have a material impact on the Company's consolidated financial statements. | |
Income taxes | ' |
Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. | |
Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion, or all, of the deferred tax asset will not be realized. In assessing the realization of deferred tax assets, management evaluates both positive and negative evidence, including the existence of any cumulative losses in the current year and the prior two years, the amount of taxes paid in available carry-back years, the forecasts of future income, applicable tax planning strategies, and assessments of current and future economic and business conditions. This analysis is updated quarterly and adjusted as necessary. |
Business_Combinations_Tables
Business Combinations (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Business Acquisition [Line Items] | ' | |||||||
Fair Value of Acquired Loans | ' | |||||||
The following table presents loans acquired with deteriorated credit quality as of the date of acquisition: | ||||||||
Foster | PIB | |||||||
(In thousands) | ||||||||
Contractually required principal and interest at acquisition | $ | 150,430 | $ | 54,462 | ||||
Contractual cash flows not expected to be collected (nonaccretable discount) | 37,447 | 9,687 | ||||||
Expected cash flows at acquisition | 112,983 | 44,775 | ||||||
Interest component of expected cash flows (accretable discount) | 14,928 | 4,945 | ||||||
Fair value of acquired impaired loans | $ | 98,055 | $ | 39,830 | ||||
Pro Forma Information | ' | |||||||
The following unaudited combined pro forma information presents the operating results for the three months ended March 31, 2014 and 2013, as if the Foster and PIB acquisitions had occurred on January 1, 2013: | ||||||||
Three Months Ended March 31, | ||||||||
2014 | 2013 | |||||||
(In thousands, except share data) | ||||||||
Net Interest income | $ | 64,966 | $ | 69,576 | ||||
Net income | $ | 22,196 | $ | 13,847 | ||||
Pro forma earnings per share: | ||||||||
Basic | $ | 0.28 | $ | 0.18 | ||||
Diluted | 0.28 | 0.18 | ||||||
Foster Bankshares Inc | ' | |||||||
Business Acquisition [Line Items] | ' | |||||||
Consideration Paid, Assets Acquired and Liabilities Assumed | ' | |||||||
The consideration paid, the assets acquired, and the liabilities assumed are summarized in the following table: | ||||||||
(In thousands) | ||||||||
Consideration paid: | ||||||||
BBCN common stock issued in exchange for Foster common stock | $ | 2,567 | ||||||
Cash paid for the redemption of Foster common stock | 1,922 | |||||||
Liability for unredeemed Foster common stock | 155 | |||||||
Total consideration paid | $ | 4,644 | ||||||
Assets Acquired: | ||||||||
Cash and cash equivalents | $ | 42,883 | ||||||
Investment securities available for sale | 4,844 | |||||||
Loans receivable | 255,297 | |||||||
FRB and FHLB stock | 1,714 | |||||||
OREO | 14,251 | |||||||
Premises and equipment | 4,733 | |||||||
Core deposit intangibles | 2,763 | |||||||
Deferred tax assets, net | 21,211 | |||||||
Other assets | 2,353 | |||||||
Liabilities Assumed: | ||||||||
Deposits | (321,596 | ) | ||||||
Borrowings | (18,045 | ) | ||||||
Subordinated debentures | (15,309 | ) | ||||||
Other liabilities | (5,980 | ) | ||||||
Total identifiable net assets | $ | (10,881 | ) | |||||
Excess of consideration paid over fair value of net assets acquired (goodwill) | $ | 15,525 | ||||||
Pacific International Bancorp, Inc. | ' | |||||||
Business Acquisition [Line Items] | ' | |||||||
Consideration Paid, Assets Acquired and Liabilities Assumed | ' | |||||||
In connection with the acquisition, the consideration paid, the assets acquired, and the liabilities assumed are summarized in the following table: | ||||||||
(In thousands) | ||||||||
Consideration paid: | ||||||||
BBCN common stock issued | $ | 8,437 | ||||||
Cash in lieu of fractional shares paid to PIB stockholders | 1 | |||||||
Redemption of Preferred Stock | 7,475 | |||||||
Total consideration paid | $ | 15,913 | ||||||
Assets Acquired: | ||||||||
Cash and cash equivalents | $ | 25,968 | ||||||
Investment securities available for sale | 7,810 | |||||||
Loans receivable | 131,589 | |||||||
FRB and FHLB stock | 1,829 | |||||||
OREO | 3,418 | |||||||
Deferred tax assets, net | 9,886 | |||||||
Core deposit intangibles | 604 | |||||||
Other assets | 2,514 | |||||||
Liabilities Assumed: | ||||||||
Deposits | (143,665 | ) | ||||||
Borrowings | (14,698 | ) | ||||||
Subordinated debentures | (4,108 | ) | ||||||
Other liabilities | (5,116 | ) | ||||||
Total identifiable net assets | $ | 16,031 | ||||||
Bargain purchase gain | $ | 118 | ||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
Summary of Stock Option Activity Under the Plan | ' | ||||||||||||
The following is a summary of stock option activity under the 2007 and 2006 Plans for the three months ended March 31, 2014: | |||||||||||||
Number of | Weighted- | Weighted- | Aggregate | ||||||||||
Shares | Average | Average | Intrinsic | ||||||||||
Exercise | Remaining | Value | |||||||||||
Price Per | Contractual | ||||||||||||
Share | Life (Years) | ||||||||||||
Outstanding - January 1, 2014 | 420,594 | $ | 20.44 | ||||||||||
Granted | — | — | |||||||||||
Exercised | — | — | |||||||||||
Expired | (21,382 | ) | 17.57 | ||||||||||
Forfeited | — | — | |||||||||||
Outstanding - March 31, 2014 | 399,212 | $ | 20.6 | 2.67 | $ | 138,215 | |||||||
Options exercisable - March 31, 2014 | 399,212 | $ | 20.6 | 2.67 | $ | 138,215 | |||||||
Summary of Restricted and Performance Unit Activity Under the Plan | ' | ||||||||||||
The following is a summary of restricted and performance unit activity under the 2007 and 2006 Plans for the three months ended March 31, 2014: | |||||||||||||
Number of | Weighted- | ||||||||||||
Shares | Average | ||||||||||||
Grant | |||||||||||||
Date Fair | |||||||||||||
Value | |||||||||||||
Outstanding - January 1, 2014 | 200,165 | $ | 11.57 | ||||||||||
Granted | 24,000 | 16.57 | |||||||||||
Vested | (53,126 | ) | 10.78 | ||||||||||
Forfeited | (17,413 | ) | 12.13 | ||||||||||
Outstanding - March 31, 2014 | 153,626 | $ | 12.62 | ||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 3 Months Ended | |||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||||||||
Computation of basic and diluted EPS | ' | |||||||||||||||||||||
The following table shows the computation of basic and diluted EPS for the three months ended March 31, 2014 and 2013. | ||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||
Net income | Shares | Per | Net income | Shares | Per | |||||||||||||||||
(Numerator) | (Denominator) | Share | (Numerator) | (Denominator) | Share | |||||||||||||||||
(Amount) | (Amount) | |||||||||||||||||||||
(In thousands, except share and per share data) | ||||||||||||||||||||||
Basic EPS - common stock | $ | 22,196 | 79,489,579 | $ | 0.28 | $ | 17,461 | 78,389,434 | $ | 0.22 | ||||||||||||
Effect of dilutive securities: | ||||||||||||||||||||||
Stock options and performance units | 58,591 | 79,311 | ||||||||||||||||||||
Common stock warrants | 91,669 | 11,926 | ||||||||||||||||||||
Diluted EPS - common stock | $ | 22,196 | 79,639,839 | $ | 0.28 | $ | 17,461 | 78,480,671 | $ | 0.22 | ||||||||||||
Securities_Available_for_Sale_
Securities Available for Sale (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||||||
Available-for-sale Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||
Summary of Securities Available for Sale | ' | ||||||||||||||||||||||||||||||||
The following is a summary of securities available for sale as of the dates indicated: | |||||||||||||||||||||||||||||||||
At March 31, 2014 | |||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||||||||||
U.S. Government agency and U.S. Government sponsored enterprises | |||||||||||||||||||||||||||||||||
Collateralized mortgage obligations | $ | 283,963 | $ | 1,509 | $ | (6,118 | ) | $ | 279,354 | ||||||||||||||||||||||||
Mortgage-backed securities | 420,159 | 4,352 | (5,550 | ) | 418,961 | ||||||||||||||||||||||||||||
Trust preferred securities | 4,520 | — | (720 | ) | 3,800 | ||||||||||||||||||||||||||||
Municipal bonds | 5,681 | 382 | (44 | ) | 6,019 | ||||||||||||||||||||||||||||
Total debt securities | 714,323 | 6,243 | (12,432 | ) | 708,134 | ||||||||||||||||||||||||||||
Mutual funds | 17,425 | — | (330 | ) | 17,095 | ||||||||||||||||||||||||||||
$ | 731,748 | $ | 6,243 | $ | (12,762 | ) | $ | 725,229 | |||||||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||||||||||||
U.S. Government agency and U.S. Government sponsored enterprises | |||||||||||||||||||||||||||||||||
Collateralized mortgage obligations | $ | 286,608 | $ | 1,104 | $ | (13,611 | ) | $ | 274,101 | ||||||||||||||||||||||||
Mortgage-backed securities | 409,165 | 3,620 | (7,789 | ) | 404,996 | ||||||||||||||||||||||||||||
Trust preferred securities | 4,516 | — | (819 | ) | 3,697 | ||||||||||||||||||||||||||||
Municipal bonds | 5,687 | 319 | (70 | ) | 5,936 | ||||||||||||||||||||||||||||
Total debt securities | 705,976 | 5,043 | (22,289 | ) | 688,730 | ||||||||||||||||||||||||||||
Mutual funds | 17,425 | — | (404 | ) | 17,021 | ||||||||||||||||||||||||||||
$ | 723,401 | $ | 5,043 | $ | (22,693 | ) | $ | 705,751 | |||||||||||||||||||||||||
Schedule of Realized Gain (Loss) | ' | ||||||||||||||||||||||||||||||||
The proceeds from sales of securities and the associated gross gains and losses recorded in earnings are listed below: | |||||||||||||||||||||||||||||||||
Three Months Ended March 31, | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Proceeds | $ | — | $ | 6,636 | |||||||||||||||||||||||||||||
Gross gains | — | 54 | |||||||||||||||||||||||||||||||
Gross losses | — | — | |||||||||||||||||||||||||||||||
Investments Classified by Contractual Maturity Date | ' | ||||||||||||||||||||||||||||||||
The amortized cost and estimated fair value of debt securities at March 31, 2014, by contractual maturity, are shown below. 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. Securities not due at a single maturity date are shown separately. | |||||||||||||||||||||||||||||||||
Amortized | Estimated | ||||||||||||||||||||||||||||||||
Cost | Fair Value | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Available for sale: | |||||||||||||||||||||||||||||||||
Due within one year | $ | — | $ | — | |||||||||||||||||||||||||||||
Due after one year through five years | 340 | 349 | |||||||||||||||||||||||||||||||
Due after five years through ten years | 3,883 | 4,230 | |||||||||||||||||||||||||||||||
Due after ten years | 5,978 | 5,241 | |||||||||||||||||||||||||||||||
U.S. Government agency and U.S. Government sponsored enterprises | |||||||||||||||||||||||||||||||||
Collateralized mortgage obligations | 283,963 | 279,354 | |||||||||||||||||||||||||||||||
Mortgage-backed securities | 420,159 | 418,960 | |||||||||||||||||||||||||||||||
Mutual funds | 17,425 | 17,095 | |||||||||||||||||||||||||||||||
$ | 731,748 | $ | 725,229 | ||||||||||||||||||||||||||||||
Schedule of Unrealized Loss on Investments | ' | ||||||||||||||||||||||||||||||||
The following table shows our investments’ gross unrealized losses and estimated fair value, aggregated by investment category and the length of time that the individual securities have been in a continuous unrealized loss position as of the dates indicated. | |||||||||||||||||||||||||||||||||
At March 31, 2014 | |||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||||||||
Description of | Number of | Fair Value | Gross | Number of | Fair Value | Gross | Number of | Fair Value | Gross | ||||||||||||||||||||||||
Securities | Securities | Unrealized | Securities | Unrealized | Securities | Unrealized | |||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Collateralized mortgage obligations* | 10 | $ | 103,382 | $ | (2,408 | ) | 9 | $ | 94,998 | $ | (3,710 | ) | 19 | $ | 198,380 | $ | (6,118 | ) | |||||||||||||||
Mortgage-backed securities* | 19 | 146,427 | (2,565 | ) | 10 | 40,681 | (2,985 | ) | 29 | 187,108 | (5,550 | ) | |||||||||||||||||||||
Trust preferred securities | — | — | — | 1 | 3,800 | (720 | ) | 1 | 3,800 | (720 | ) | ||||||||||||||||||||||
Municipal bonds | 1 | 1,132 | (44 | ) | — | — | — | 1 | 1,132 | (44 | ) | ||||||||||||||||||||||
Mutual funds | 1 | 13,095 | (330 | ) | — | — | — | 1 | 13,095 | (330 | ) | ||||||||||||||||||||||
31 | $ | 264,036 | $ | (5,347 | ) | 20 | $ | 139,479 | $ | (7,415 | ) | 51 | $ | 403,515 | $ | (12,762 | ) | ||||||||||||||||
* Investments in U.S. Government agency and U.S. Government sponsored enterprises | |||||||||||||||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||||||||
Description of | Number of | Fair Value | Gross | Number of | Fair Value | Gross | Number of | Fair Value | Gross | ||||||||||||||||||||||||
Securities | Securities | Unrealized | Securities | Unrealized | Securities | Unrealized | |||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Collateralized mortgage obligations* | 21 | $ | 198,713 | $ | (12,460 | ) | 3 | $ | 13,381 | $ | (1,151 | ) | 24 | $ | 212,094 | $ | (13,611 | ) | |||||||||||||||
Mortgage-backed securities* | 29 | 203,276 | (7,293 | ) | 7 | 14,793 | (496 | ) | 36 | 218,069 | (7,789 | ) | |||||||||||||||||||||
Trust Preferred securities | 1 | 1,112 | (70 | ) | 1 | 3,697 | (819 | ) | 2 | 4,809 | (889 | ) | |||||||||||||||||||||
Mutual funds | 1 | 13,021 | (404 | ) | — | — | — | 1 | 13,021 | (404 | ) | ||||||||||||||||||||||
52 | $ | 416,122 | $ | (20,227 | ) | 11 | $ | 31,871 | $ | (2,466 | ) | 63 | $ | 447,993 | $ | (22,693 | ) | ||||||||||||||||
Loans_Receivable_and_Allowance1
Loans Receivable and Allowance for Loan Losses (Tables) | 3 Months Ended | |||||||||||||||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Summary of Loans Receivable by Major Category | ' | |||||||||||||||||||||||||||||||||||
The following is a summary of loans receivable by major category: | ||||||||||||||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Loan portfolio composition | ||||||||||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||||||||||
Residential | $ | 11,035 | $ | 10,039 | ||||||||||||||||||||||||||||||||
Commercial & industrial | 3,947,925 | 3,821,163 | ||||||||||||||||||||||||||||||||||
Construction | 76,038 | 72,856 | ||||||||||||||||||||||||||||||||||
Total real estate loans | 4,034,998 | 3,904,058 | ||||||||||||||||||||||||||||||||||
Commercial business | 923,026 | 949,093 | ||||||||||||||||||||||||||||||||||
Trade finance | 135,638 | 124,685 | ||||||||||||||||||||||||||||||||||
Consumer and other | 98,895 | 98,507 | ||||||||||||||||||||||||||||||||||
Total loans outstanding | 5,192,557 | 5,076,343 | ||||||||||||||||||||||||||||||||||
Less: deferred loan fees | (1,763 | ) | (2,167 | ) | ||||||||||||||||||||||||||||||||
Loans receivable | 5,190,794 | 5,074,176 | ||||||||||||||||||||||||||||||||||
Less: allowance for loan losses | (65,699 | ) | (67,320 | ) | ||||||||||||||||||||||||||||||||
Loans receivable, net of allowance for loan losses | $ | 5,125,095 | $ | 5,006,856 | ||||||||||||||||||||||||||||||||
Loans and Leases Acquired, Accretable Yield Movement Schedule | ' | |||||||||||||||||||||||||||||||||||
The following table presents changes in the accretable discount on the ACILs for the three months ended March 31, 2014 and 2013: | ||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 47,398 | $ | 18,652 | ||||||||||||||||||||||||||||||||
Additions due to acquisitions during the period | — | 4,945 | ||||||||||||||||||||||||||||||||||
Accretion | (4,867 | ) | (3,446 | ) | ||||||||||||||||||||||||||||||||
Changes in expected cash flows | (9,948 | ) | 3,259 | |||||||||||||||||||||||||||||||||
Balance at end of period | $ | 32,583 | $ | 23,410 | ||||||||||||||||||||||||||||||||
Allowance for Loan Losses by Portfolio Segment | ' | |||||||||||||||||||||||||||||||||||
The following tables detail the activity in the allowance for loan losses by portfolio segment for the three months ended March 31, 2014 and 2013: | ||||||||||||||||||||||||||||||||||||
Legacy | Acquired | Total | ||||||||||||||||||||||||||||||||||
Real Estate | Commercial Business | Trade Finance | Consumer and Other | Real Estate | Commercial Business | Trade Finance | Consumer and Other | |||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | 40,068 | $ | 16,796 | $ | 2,653 | $ | 461 | $ | 6,482 | $ | 796 | $ | — | $ | 64 | $ | 67,320 | ||||||||||||||||||
Provision (credit) for loan losses | (1,414 | ) | 2,547 | 348 | 7 | 451 | 1,011 | — | 76 | 3,026 | ||||||||||||||||||||||||||
Loans charged off | (87 | ) | (3,725 | ) | (57 | ) | (1 | ) | (95 | ) | (1,220 | ) | — | (78 | ) | (5,263 | ) | |||||||||||||||||||
Recoveries of charge offs | 19 | 590 | — | — | — | 6 | — | 1 | 616 | |||||||||||||||||||||||||||
Balance, end of period | $ | 38,586 | $ | 16,208 | $ | 2,944 | $ | 467 | $ | 6,838 | $ | 593 | $ | — | $ | 63 | $ | 65,699 | ||||||||||||||||||
Legacy | Acquired | Total | ||||||||||||||||||||||||||||||||||
Real Estate | Commercial Business | Trade Finance | Consumer and Other | Real Estate | Commercial Business | Trade Finance | Consumer and Other | |||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2013 | ||||||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | 41,505 | $ | 16,490 | $ | 2,349 | $ | 658 | $ | 4,718 | $ | 1,115 | $ | 3 | $ | 103 | $ | 66,941 | ||||||||||||||||||
Provision (credit) for loan losses | 3,069 | 39 | (625 | ) | (129 | ) | 5,320 | (189 | ) | (3 | ) | 24 | 7,506 | |||||||||||||||||||||||
Loans charged off | (905 | ) | (183 | ) | (26 | ) | (7 | ) | (151 | ) | (124 | ) | — | (33 | ) | (1,429 | ) | |||||||||||||||||||
Recoveries of charge offs | 40 | 176 | — | 16 | 2 | 7 | — | 9 | 250 | |||||||||||||||||||||||||||
Balance, end of period | $ | 43,709 | $ | 16,522 | $ | 1,698 | $ | 538 | $ | 9,889 | $ | 809 | $ | — | $ | 103 | $ | 73,268 | ||||||||||||||||||
The following tables disaggregate the allowance for loan losses and the loans outstanding by impairment methodology at March 31, 2014 and December 31, 2013: | ||||||||||||||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||||||||||||||
Legacy | Acquired | Total | ||||||||||||||||||||||||||||||||||
Real Estate | Commercial Business | Trade Finance | Consumer and Other | Real Estate | Commercial Business | Trade Finance | Consumer and Other | |||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 4,248 | $ | 4,121 | $ | 761 | $ | — | $ | 555 | $ | 509 | $ | — | $ | — | $ | 10,194 | ||||||||||||||||||
Collectively evaluated for impairment | 34,338 | 12,087 | 2,183 | 467 | 723 | 84 | — | 63 | 49,945 | |||||||||||||||||||||||||||
ACILs | — | — | — | — | 5,560 | — | — | — | 5,560 | |||||||||||||||||||||||||||
Total | $ | 38,586 | $ | 16,208 | $ | 2,944 | $ | 467 | $ | 6,838 | $ | 593 | $ | — | $ | 63 | $ | 65,699 | ||||||||||||||||||
Loans outstanding: | ||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 50,681 | $ | 37,565 | $ | 6,263 | $ | 525 | $ | 23,274 | $ | 2,574 | $ | — | $ | 952 | $ | 121,834 | ||||||||||||||||||
Collectively evaluated for impairment | 3,257,964 | 769,299 | 126,364 | 36,112 | 563,265 | 71,138 | — | 29,720 | 4,853,862 | |||||||||||||||||||||||||||
ACILs | — | — | — | — | 139,814 | 42,450 | 3,011 | 31,586 | 216,861 | |||||||||||||||||||||||||||
Total | $ | 3,308,645 | $ | 806,864 | $ | 132,627 | $ | 36,637 | $ | 726,353 | $ | 116,162 | $ | 3,011 | $ | 62,258 | $ | 5,192,557 | ||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Legacy | Acquired | Total | ||||||||||||||||||||||||||||||||||
Real Estate | Commercial Business | Trade Finance | Consumer and Other | Real Estate | Commercial Business | Trade Finance | Consumer and Other | |||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 5,578 | $ | 5,183 | $ | 159 | $ | 32 | $ | 1,092 | $ | 622 | $ | — | $ | — | $ | 12,666 | ||||||||||||||||||
Collectively evaluated for impairment | 34,490 | 11,613 | 2,494 | 429 | 612 | 174 | — | 64 | 49,876 | |||||||||||||||||||||||||||
ACILs | — | — | — | — | 4,778 | — | — | — | 4,778 | |||||||||||||||||||||||||||
Total | $ | 40,068 | $ | 16,796 | $ | 2,653 | $ | 461 | $ | 6,482 | $ | 796 | $ | — | $ | 64 | $ | 67,320 | ||||||||||||||||||
Loans outstanding: | ||||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 49,177 | $ | 37,314 | $ | 5,692 | $ | 535 | $ | 19,992 | $ | 2,792 | $ | — | $ | 767 | $ | 116,269 | ||||||||||||||||||
Collectively evaluated for impairment | 3,076,924 | 778,350 | 117,249 | 32,421 | 613,696 | 84,325 | — | 31,802 | 4,734,767 | |||||||||||||||||||||||||||
ACILs | — | — | — | — | 144,269 | 46,312 | 1,744 | 32,982 | 225,307 | |||||||||||||||||||||||||||
Total | $ | 3,126,101 | $ | 815,664 | $ | 122,941 | $ | 32,956 | $ | 777,957 | $ | 133,429 | $ | 1,744 | $ | 65,551 | $ | 5,076,343 | ||||||||||||||||||
Aging of Past Due Loans | ' | |||||||||||||||||||||||||||||||||||
The following tables present the aging of past due loans as of March 31, 2014 and December 31, 2013 by class of loans: | ||||||||||||||||||||||||||||||||||||
As of March 31, 2014 | ||||||||||||||||||||||||||||||||||||
Past Due and Accruing | ||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 or More Days Past Due | Total | Nonaccrual Loans (2) | Total Delinquent Loans | |||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Legacy Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 48 | 121 | — | 169 | 4,470 | 4,639 | ||||||||||||||||||||||||||||||
Hotel & motel | 365 | — | — | 365 | 121 | 486 | ||||||||||||||||||||||||||||||
Gas station & car wash | — | — | — | — | 4,117 | 4,117 | ||||||||||||||||||||||||||||||
Mixed use | — | — | — | — | 968 | 968 | ||||||||||||||||||||||||||||||
Industrial & warehouse | — | 214 | — | 214 | 3,110 | 3,324 | ||||||||||||||||||||||||||||||
Other | 13 | — | — | 13 | 906 | 919 | ||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Commercial business | 1,228 | 78 | — | 1,306 | 8,691 | 9,997 | ||||||||||||||||||||||||||||||
Trade finance | — | 32 | — | 32 | 1,263 | 1,295 | ||||||||||||||||||||||||||||||
Consumer and other | 47 | — | — | 47 | 17 | 64 | ||||||||||||||||||||||||||||||
Subtotal | $ | 1,701 | $ | 445 | $ | — | $ | 2,146 | $ | 23,663 | $ | 25,809 | ||||||||||||||||||||||||
Acquired Loans: (1) | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 597 | — | — | 597 | 1,336 | 1,933 | ||||||||||||||||||||||||||||||
Hotel & motel | — | — | — | — | 6,378 | 6,378 | ||||||||||||||||||||||||||||||
Gas station & car wash | 1,061 | — | — | 1,061 | 2,253 | 3,314 | ||||||||||||||||||||||||||||||
Mixed use | 577 | — | — | 577 | 465 | 1,042 | ||||||||||||||||||||||||||||||
Industrial & warehouse | — | — | — | — | 6,424 | 6,424 | ||||||||||||||||||||||||||||||
Other | 1,800 | — | — | 1,800 | 3,522 | 5,322 | ||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial business | 594 | 3 | — | 597 | 2,262 | 2,859 | ||||||||||||||||||||||||||||||
Trade finance | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Consumer and other | 285 | — | — | 285 | 1,011 | 1,296 | ||||||||||||||||||||||||||||||
Subtotal | $ | 4,914 | $ | 3 | $ | — | $ | 4,917 | $ | 23,651 | $ | 28,568 | ||||||||||||||||||||||||
TOTAL | $ | 6,615 | $ | 448 | $ | — | $ | 7,063 | $ | 47,314 | $ | 54,377 | ||||||||||||||||||||||||
(1) | The Acquired Loans exclude ACILs. | |||||||||||||||||||||||||||||||||||
(2) | Nonaccrual loans exclude the guaranteed portion of delinquent SBA loans that are in liquidation totaling $31.3 million. | |||||||||||||||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Past Due and Accruing | ||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 or More Days Past Due | Total | Nonaccrual Loans (2) | Total Delinquent Loans | |||||||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||||||||||
Legacy Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 122 | — | — | 122 | 4,363 | 4,485 | ||||||||||||||||||||||||||||||
Hotel & motel | — | — | — | — | 121 | 121 | ||||||||||||||||||||||||||||||
Gas station & car wash | 1,038 | — | — | 1,038 | 2,228 | 3,266 | ||||||||||||||||||||||||||||||
Mixed use | — | — | — | — | 974 | 974 | ||||||||||||||||||||||||||||||
Industrial & warehouse | 215 | — | — | 215 | 1,923 | 2,138 | ||||||||||||||||||||||||||||||
Other | — | — | — | — | 1,398 | 1,398 | ||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Commercial business | 780 | 244 | — | 1,024 | 6,402 | 7,426 | ||||||||||||||||||||||||||||||
Trade finance | — | — | — | — | 1,031 | 1,031 | ||||||||||||||||||||||||||||||
Consumer and other | 54 | 22 | — | 76 | — | 76 | ||||||||||||||||||||||||||||||
Subtotal | $ | 2,209 | $ | 266 | $ | — | $ | 2,475 | $ | 18,440 | $ | 20,915 | ||||||||||||||||||||||||
Acquired Loans: (1) | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 2,024 | — | — | 2,024 | 1,030 | 3,054 | ||||||||||||||||||||||||||||||
Hotel & motel | — | — | — | — | 6,441 | 6,441 | ||||||||||||||||||||||||||||||
Gas station & car wash | 1,068 | — | — | 1,068 | 1,339 | 2,407 | ||||||||||||||||||||||||||||||
Mixed use | 576 | — | — | 576 | — | 576 | ||||||||||||||||||||||||||||||
Industrial & warehouse | 121 | — | — | 121 | 6,890 | 7,011 | ||||||||||||||||||||||||||||||
Other | 516 | 1,729 | — | 2,245 | 1,376 | 3,621 | ||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Commercial business | 524 | 703 | 5 | 1,232 | 2,708 | 3,940 | ||||||||||||||||||||||||||||||
Trade finance | — | — | — | — | — | — | ||||||||||||||||||||||||||||||
Consumer and other | 284 | 74 | — | 358 | 930 | 1,288 | ||||||||||||||||||||||||||||||
Subtotal | $ | 5,113 | $ | 2,506 | $ | 5 | $ | 7,624 | $ | 20,714 | $ | 28,338 | ||||||||||||||||||||||||
TOTAL | $ | 7,322 | $ | 2,772 | $ | 5 | $ | 10,099 | $ | 39,154 | $ | 49,253 | ||||||||||||||||||||||||
(1) | The Acquired Loans exclude ACILs. | |||||||||||||||||||||||||||||||||||
(2) Nonaccrual loans exclude guaranteed portion of delinquent SBA loans that are in liquidation totaling $27.5 million. | ||||||||||||||||||||||||||||||||||||
Risk Category of Loans by Class of Loans | ' | |||||||||||||||||||||||||||||||||||
The following tables present the risk rating for Legacy Loans and Acquired Loans as of March 31, 2014 and December 31, 2013 by class of loans: | ||||||||||||||||||||||||||||||||||||
As of March 31, 2014 | ||||||||||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful/Loss | Total | ||||||||||||||||||||||||||||||||
Mention | ||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Legacy Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | 9,004 | $ | — | $ | — | $ | — | $ | 9,004 | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 888,454 | 2,395 | 13,562 | — | 904,411 | |||||||||||||||||||||||||||||||
Hotel & motel | 592,932 | 117 | 7,269 | — | 600,318 | |||||||||||||||||||||||||||||||
Gas station & car wash | 475,483 | — | 10,639 | — | 486,122 | |||||||||||||||||||||||||||||||
Mixed use | 281,152 | 358 | 3,293 | — | 284,803 | |||||||||||||||||||||||||||||||
Industrial & warehouse | 285,848 | 5,364 | 13,273 | — | 304,485 | |||||||||||||||||||||||||||||||
Other | 624,042 | 7,904 | 11,159 | 359 | 643,464 | |||||||||||||||||||||||||||||||
Real estate—construction | 74,433 | — | 1,605 | — | 76,038 | |||||||||||||||||||||||||||||||
Commercial business | 751,270 | 12,701 | 39,920 | 2,973 | 806,864 | |||||||||||||||||||||||||||||||
Trade finance | 99,049 | 23,311 | 10,267 | — | 132,627 | |||||||||||||||||||||||||||||||
Consumer and other | 36,086 | 9 | 542 | — | 36,637 | |||||||||||||||||||||||||||||||
Subtotal | $ | 4,117,753 | $ | 52,159 | $ | 111,529 | $ | 3,332 | $ | 4,284,773 | ||||||||||||||||||||||||||
Acquired Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | 1,081 | $ | 578 | $ | 372 | $ | — | $ | 2,031 | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 218,682 | 9,040 | 28,113 | 243 | 256,078 | |||||||||||||||||||||||||||||||
Hotel & motel | 105,736 | 7,143 | 14,141 | — | 127,020 | |||||||||||||||||||||||||||||||
Gas station & car wash | 29,352 | 1,634 | 14,616 | 250 | 45,852 | |||||||||||||||||||||||||||||||
Mixed use | 31,302 | 1,418 | 5,268 | — | 37,988 | |||||||||||||||||||||||||||||||
Industrial & warehouse | 87,748 | 4,195 | 19,207 | — | 111,150 | |||||||||||||||||||||||||||||||
Other | 122,472 | 6,376 | 16,814 | 572 | 146,234 | |||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial business | 80,706 | 8,810 | 24,364 | 2,282 | 116,162 | |||||||||||||||||||||||||||||||
Trade finance | 3,011 | — | — | — | 3,011 | |||||||||||||||||||||||||||||||
Consumer and other | 47,817 | 2,201 | 11,765 | 475 | 62,258 | |||||||||||||||||||||||||||||||
Subtotal | $ | 727,907 | $ | 41,395 | $ | 134,660 | $ | 3,822 | $ | 907,784 | ||||||||||||||||||||||||||
Total | $ | 4,845,660 | $ | 93,554 | $ | 246,189 | $ | 7,154 | $ | 5,192,557 | ||||||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful/Loss | Total | ||||||||||||||||||||||||||||||||
Mention | ||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Legacy Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | 8,070 | $ | — | $ | — | $ | — | $ | 8,070 | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 842,815 | 858 | 14,365 | — | 858,038 | |||||||||||||||||||||||||||||||
Hotel & motel | 568,263 | 1,841 | 13,661 | — | 583,765 | |||||||||||||||||||||||||||||||
Gas station & car wash | 455,205 | — | 10,854 | — | 466,059 | |||||||||||||||||||||||||||||||
Mixed use | 259,788 | 360 | 3,324 | — | 263,472 | |||||||||||||||||||||||||||||||
Industrial & warehouse | 251,993 | 4,116 | 12,056 | — | 268,165 | |||||||||||||||||||||||||||||||
Other | 589,895 | 3,928 | 11,493 | 359 | 605,675 | |||||||||||||||||||||||||||||||
Real estate—construction | 71,231 | — | 1,626 | — | 72,857 | |||||||||||||||||||||||||||||||
Commercial business | 759,956 | 12,756 | 42,952 | — | 815,664 | |||||||||||||||||||||||||||||||
Trade finance | 91,055 | 22,589 | 9,297 | — | 122,941 | |||||||||||||||||||||||||||||||
Consumer and other | 32,389 | 32 | 535 | — | 32,956 | |||||||||||||||||||||||||||||||
Subtotal | $ | 3,930,660 | $ | 46,480 | $ | 120,163 | $ | 359 | $ | 4,097,662 | ||||||||||||||||||||||||||
Acquired Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | 1,066 | $ | 284 | $ | 619 | $ | — | $ | 1,969 | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 237,325 | 9,319 | 28,128 | 94 | 274,866 | |||||||||||||||||||||||||||||||
Hotel & motel | 109,138 | 7,134 | 14,836 | 179 | 131,287 | |||||||||||||||||||||||||||||||
Gas station & car wash | 35,356 | 1,621 | 14,440 | 245 | 51,662 | |||||||||||||||||||||||||||||||
Mixed use | 32,992 | 1,467 | 5,316 | — | 39,775 | |||||||||||||||||||||||||||||||
Industrial & warehouse | 92,570 | 3,525 | 19,720 | — | 115,815 | |||||||||||||||||||||||||||||||
Other | 133,752 | 6,698 | 21,573 | 560 | 162,583 | |||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial business | 94,854 | 10,266 | 26,245 | 2,064 | 133,429 | |||||||||||||||||||||||||||||||
Trade finance | 1,744 | — | — | — | 1,744 | |||||||||||||||||||||||||||||||
Consumer and other | 51,036 | 2,695 | 7,460 | 4,360 | 65,551 | |||||||||||||||||||||||||||||||
Subtotal | $ | 789,833 | $ | 43,009 | $ | 138,337 | $ | 7,502 | $ | 978,681 | ||||||||||||||||||||||||||
Total | $ | 4,720,493 | $ | 89,489 | $ | 258,500 | $ | 7,861 | $ | 5,076,343 | ||||||||||||||||||||||||||
Impaired Financing Receivables | ' | |||||||||||||||||||||||||||||||||||
The recorded investment in individually impaired loans was as follows: | ||||||||||||||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
With allocated allowance | ||||||||||||||||||||||||||||||||||||
Without charge off | $ | 70,845 | $ | 85,920 | ||||||||||||||||||||||||||||||||
With charge off | 483 | 851 | ||||||||||||||||||||||||||||||||||
With no allocated allowance | ||||||||||||||||||||||||||||||||||||
Without charge off | 41,383 | 23,160 | ||||||||||||||||||||||||||||||||||
With charge off | 9,123 | 6,338 | ||||||||||||||||||||||||||||||||||
Allowance on impaired loans | (10,194 | ) | (12,666 | ) | ||||||||||||||||||||||||||||||||
Impaired loans, net of allowance | $ | 111,640 | $ | 103,603 | ||||||||||||||||||||||||||||||||
The following tables detail impaired loans (Legacy and APLs that became impaired subsequent to being acquired) as of March 31, 2014 and December 31, 2013 and for the three months ended March 31, 2014 and March 31, 2013 and for the year ended December 31, 2013. Loans with no related allowance for loan losses are believed by management to have adequate collateral securing their carrying value. | ||||||||||||||||||||||||||||||||||||
As of March 31, 2014 | For the Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||||||
Total Impaired Loans | Recorded Investment* | Unpaid Contractual Principal Balance | Related | Average Recorded Investment* | Interest Income Recognized during Impairment | |||||||||||||||||||||||||||||||
Allowance | ||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
With related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 4,334 | 4,628 | 521 | 5,826 | 23 | |||||||||||||||||||||||||||||||
Hotel & motel | 11,741 | 11,741 | 2,036 | 11,831 | 133 | |||||||||||||||||||||||||||||||
Gas station & car wash | 3,078 | 3,240 | 533 | 3,112 | 19 | |||||||||||||||||||||||||||||||
Mixed use | 932 | 946 | 160 | 931 | 10 | |||||||||||||||||||||||||||||||
Industrial & warehouse | 7,977 | 7,977 | 413 | 10,188 | 75 | |||||||||||||||||||||||||||||||
Other | 10,012 | 10,037 | 1,140 | 10,137 | 94 | |||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial business | 27,874 | 28,621 | 4,630 | 31,269 | 297 | |||||||||||||||||||||||||||||||
Trade finance | 5,380 | 12,567 | 761 | 5,490 | 49 | |||||||||||||||||||||||||||||||
Consumer and other | — | — | — | 268 | — | |||||||||||||||||||||||||||||||
$ | 71,328 | $ | 79,757 | $ | 10,194 | $ | 79,052 | $ | 700 | |||||||||||||||||||||||||||
With no related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 8,242 | 11,259 | — | 6,134 | 58 | |||||||||||||||||||||||||||||||
Hotel & motel | 6,499 | 11,381 | — | 6,501 | — | |||||||||||||||||||||||||||||||
Gas station & car wash | 4,654 | 8,161 | — | 4,750 | — | |||||||||||||||||||||||||||||||
Mixed use | 1,297 | 1,374 | — | 1,071 | — | |||||||||||||||||||||||||||||||
Industrial & warehouse | 9,444 | 13,134 | — | 6,625 | 3 | |||||||||||||||||||||||||||||||
Other | 4,140 | 6,284 | — | 2,844 | 16 | |||||||||||||||||||||||||||||||
Real estate—construction | 1,605 | 1,605 | — | 1,615 | 21 | |||||||||||||||||||||||||||||||
Commercial business | 12,265 | 15,690 | — | 8,854 | 61 | |||||||||||||||||||||||||||||||
Trade finance | 883 | 967 | — | 488 | — | |||||||||||||||||||||||||||||||
Consumer and other | 1,477 | 1,548 | — | 1,123 | 8 | |||||||||||||||||||||||||||||||
$ | 50,506 | $ | 71,403 | $ | — | $ | 40,005 | $ | 167 | |||||||||||||||||||||||||||
Total | $ | 121,834 | $ | 151,160 | $ | 10,194 | $ | 119,057 | $ | 867 | ||||||||||||||||||||||||||
* | Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. | |||||||||||||||||||||||||||||||||||
For the Three Months Ended March 31, 2013 | ||||||||||||||||||||||||||||||||||||
Total Impaired Loans | Average Recorded Investment* | Interest Income Recognized during Impairment | ||||||||||||||||||||||||||||||||||
With related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | ||||||||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 6,578 | 51 | ||||||||||||||||||||||||||||||||||
Hotel & motel | 10,564 | 137 | ||||||||||||||||||||||||||||||||||
Gas station & car wash | 1,635 | 11 | ||||||||||||||||||||||||||||||||||
Mixed use | 926 | 13 | ||||||||||||||||||||||||||||||||||
Industrial & warehouse | 6,600 | 6 | ||||||||||||||||||||||||||||||||||
Other | 13,670 | 159 | ||||||||||||||||||||||||||||||||||
Real estate—construction | — | — | ||||||||||||||||||||||||||||||||||
Commercial business | 24,312 | 242 | ||||||||||||||||||||||||||||||||||
Trade finance | 6,543 | 73 | ||||||||||||||||||||||||||||||||||
Consumer and other | 55 | 1 | ||||||||||||||||||||||||||||||||||
$ | 70,883 | $ | 693 | |||||||||||||||||||||||||||||||||
With no related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | ||||||||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 1,913 | — | ||||||||||||||||||||||||||||||||||
Hotel & motel | 6,168 | — | ||||||||||||||||||||||||||||||||||
Gas station & car wash | 2,981 | 15 | ||||||||||||||||||||||||||||||||||
Mixed Uuse | 890 | — | ||||||||||||||||||||||||||||||||||
Industrial & warehouse | 4,618 | 3 | ||||||||||||||||||||||||||||||||||
Other | 4,214 | 39 | ||||||||||||||||||||||||||||||||||
Real estate—construction | 1,697 | 22 | ||||||||||||||||||||||||||||||||||
Commercial business | 1,456 | 16 | ||||||||||||||||||||||||||||||||||
Trade finance | — | — | ||||||||||||||||||||||||||||||||||
Consumer and other | 1,273 | 5 | ||||||||||||||||||||||||||||||||||
$ | 25,210 | $ | 100 | |||||||||||||||||||||||||||||||||
Total | $ | 96,093 | $ | 793 | ||||||||||||||||||||||||||||||||
* | Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. | |||||||||||||||||||||||||||||||||||
As of March 31, 2014 | For the Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||||||
Impaired APLs | Recorded Investment* | Unpaid | Related | Average Recorded Investment* | Interest Income Recognized during Impairment | |||||||||||||||||||||||||||||||
Contractual Principal | Allowance | |||||||||||||||||||||||||||||||||||
Balance | ||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
With related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 105 | 159 | 27 | 248 | 1 | |||||||||||||||||||||||||||||||
Hotel & motel | — | — | — | — | — | |||||||||||||||||||||||||||||||
Gas station & car wash | 2,777 | 2,939 | 503 | 1,786 | 15 | |||||||||||||||||||||||||||||||
Mixed use | — | — | — | — | — | |||||||||||||||||||||||||||||||
Industrial & warehouse | — | — | — | 2,564 | — | |||||||||||||||||||||||||||||||
Other | 1,412 | 1,431 | 25 | 1,387 | 2 | |||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial business | 952 | 1,568 | 509 | 1,468 | 5 | |||||||||||||||||||||||||||||||
Trade finance | — | — | — | — | — | |||||||||||||||||||||||||||||||
Consumer and other | — | — | — | — | — | |||||||||||||||||||||||||||||||
$ | 5,246 | $ | 6,097 | $ | 1,064 | $ | 7,453 | $ | 23 | |||||||||||||||||||||||||||
With no related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 1,834 | 3,306 | — | 1,539 | 7 | |||||||||||||||||||||||||||||||
Hotel & motel | 6,378 | 8,675 | — | 6,410 | — | |||||||||||||||||||||||||||||||
Gas station & car wash | 537 | 990 | — | 1,076 | — | |||||||||||||||||||||||||||||||
Mixed use | 465 | 465 | — | 233 | — | |||||||||||||||||||||||||||||||
Industrial & warehouse | 6,543 | 6,855 | — | 4,213 | 3 | |||||||||||||||||||||||||||||||
Other | 3,223 | 3,686 | — | 2,179 | 8 | |||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial business | 1,622 | 1,803 | — | 1,215 | — | |||||||||||||||||||||||||||||||
Trade finance | — | — | — | — | — | |||||||||||||||||||||||||||||||
Consumer and ther | 952 | 1,023 | — | 860 | 2 | |||||||||||||||||||||||||||||||
$ | 21,554 | $ | 26,803 | $ | — | $ | 17,725 | $ | 20 | |||||||||||||||||||||||||||
Total | $ | 26,800 | $ | 32,900 | $ | 1,064 | $ | 25,178 | $ | 43 | ||||||||||||||||||||||||||
* | Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. | |||||||||||||||||||||||||||||||||||
For the Three Months Ended March 31, 2013 | ||||||||||||||||||||||||||||||||||||
Impaired APLs | Average Recorded Investment* | Interest Income Recognized during Impairment | ||||||||||||||||||||||||||||||||||
With related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | ||||||||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 1,683 | 25 | ||||||||||||||||||||||||||||||||||
Hotel & motel | — | — | ||||||||||||||||||||||||||||||||||
Gas station & car wash | — | — | ||||||||||||||||||||||||||||||||||
Mixed use | — | — | ||||||||||||||||||||||||||||||||||
Industrial & warehouse | 5,552 | — | ||||||||||||||||||||||||||||||||||
Other | 3,709 | 62 | ||||||||||||||||||||||||||||||||||
Real estate—construction | — | |||||||||||||||||||||||||||||||||||
Commercial business | 3,063 | 8 | ||||||||||||||||||||||||||||||||||
Trade inance | — | — | ||||||||||||||||||||||||||||||||||
Consumer and other | — | — | ||||||||||||||||||||||||||||||||||
$ | 14,007 | $ | 95 | |||||||||||||||||||||||||||||||||
With no related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | ||||||||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 430 | — | ||||||||||||||||||||||||||||||||||
Hotel & motel | 5,959 | — | ||||||||||||||||||||||||||||||||||
Gas station & car wash | 1,315 | 15 | ||||||||||||||||||||||||||||||||||
Mixed use | — | — | ||||||||||||||||||||||||||||||||||
Industrial & warehouse | 3,294 | 3 | ||||||||||||||||||||||||||||||||||
Other | 1,276 | 8 | ||||||||||||||||||||||||||||||||||
Real estate—construction | — | — | ||||||||||||||||||||||||||||||||||
Commercial business | 273 | — | ||||||||||||||||||||||||||||||||||
Trade finance | — | — | ||||||||||||||||||||||||||||||||||
Consumer and other | 793 | — | ||||||||||||||||||||||||||||||||||
$ | 13,340 | $ | 26 | |||||||||||||||||||||||||||||||||
Total | $ | 27,347 | $ | 121 | ||||||||||||||||||||||||||||||||
* | Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. | |||||||||||||||||||||||||||||||||||
As of December 31, 2013 | For the Year Ended | |||||||||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||||||
Total Impaired Loans | Recorded Investment* | Unpaid | Related | Average | Interest Income Recognized during Impairment | |||||||||||||||||||||||||||||||
Contractual Principal | Allowance | Recorded Investment* | ||||||||||||||||||||||||||||||||||
Balance | ||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
With related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 7,318 | 7,451 | 827 | 7,783 | 181 | |||||||||||||||||||||||||||||||
Hotel & motel | 11,920 | 12,744 | 2,841 | 11,432 | 550 | |||||||||||||||||||||||||||||||
Gas station & car wash | 3,145 | 3,236 | 519 | 2,090 | 117 | |||||||||||||||||||||||||||||||
Mixed use | 930 | 953 | 212 | 1,108 | 43 | |||||||||||||||||||||||||||||||
Industrial & warehouse | 12,398 | 12,470 | 810 | 9,496 | 323 | |||||||||||||||||||||||||||||||
Other | 10,262 | 10,351 | 1,461 | 9,826 | 405 | |||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial business | 34,663 | 36,472 | 5,805 | 27,010 | 1,572 | |||||||||||||||||||||||||||||||
Trade finance | 5,600 | 5,628 | 159 | 5,313 | 41 | |||||||||||||||||||||||||||||||
Consumer and other | 535 | 535 | 32 | 348 | 23 | |||||||||||||||||||||||||||||||
$ | 86,771 | $ | 89,840 | $ | 12,666 | $ | 74,406 | $ | 3,255 | |||||||||||||||||||||||||||
With no related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 4,025 | 6,591 | — | 3,428 | 45 | |||||||||||||||||||||||||||||||
Hotel & motel | 6,502 | 10,498 | — | 6,304 | — | |||||||||||||||||||||||||||||||
Gas station & car wash | 4,845 | 8,273 | — | 3,803 | 139 | |||||||||||||||||||||||||||||||
Mixed use | 845 | 912 | — | 697 | — | |||||||||||||||||||||||||||||||
Industrial & warehouse | 3,806 | 7,204 | — | 3,958 | 10 | |||||||||||||||||||||||||||||||
Other | 1,548 | 3,647 | — | 3,043 | — | |||||||||||||||||||||||||||||||
Real estate—construction | 1,625 | 1,625 | — | 1,670 | 89 | |||||||||||||||||||||||||||||||
Commercial business | 5,443 | 8,437 | — | 2,770 | 25 | |||||||||||||||||||||||||||||||
Trade finance | 92 | 7,279 | — | 18 | — | |||||||||||||||||||||||||||||||
Consumer and other | 767 | 831 | — | 1,067 | — | |||||||||||||||||||||||||||||||
$ | 29,498 | $ | 55,297 | $ | — | $ | 26,758 | $ | 308 | |||||||||||||||||||||||||||
Total | $ | 116,269 | $ | 145,137 | $ | 12,666 | $ | 101,164 | $ | 3,563 | ||||||||||||||||||||||||||
* | Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. | |||||||||||||||||||||||||||||||||||
As of December 31, 2013 | For the Year Ended | |||||||||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||||||
Impaired APLs | Recorded Investment* | Unpaid Contractual Principal Balance | Related Allowance | Average Recorded Investment* | Interest Income Recognized during Impairment | |||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
With related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 391 | 397 | 15 | 1,084 | 14 | |||||||||||||||||||||||||||||||
Hotel & motel | — | — | — | — | — | |||||||||||||||||||||||||||||||
Gas station & car wash | 794 | 885 | 341 | 485 | — | |||||||||||||||||||||||||||||||
Mixed use | — | — | — | — | — | |||||||||||||||||||||||||||||||
Industrial & warehouse | 5,128 | 5,200 | 612 | 6,323 | — | |||||||||||||||||||||||||||||||
Other | 1,362 | 1,412 | 124 | 1,819 | 43 | |||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial business | 1,984 | 3,354 | 622 | 2,827 | 5 | |||||||||||||||||||||||||||||||
Trade finance | — | — | — | — | — | |||||||||||||||||||||||||||||||
Consumer and other | — | — | — | — | — | |||||||||||||||||||||||||||||||
$ | 9,659 | $ | 11,248 | $ | 1,714 | $ | 12,538 | $ | 62 | |||||||||||||||||||||||||||
With no related allowance: | ||||||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 1,244 | 2,216 | — | 953 | 14 | |||||||||||||||||||||||||||||||
Hotel & motel | 6,441 | 8,676 | — | 6,169 | — | |||||||||||||||||||||||||||||||
Gas station & car wash | 1,614 | 2,109 | — | 1,366 | 62 | |||||||||||||||||||||||||||||||
Mixed use | — | — | — | — | — | |||||||||||||||||||||||||||||||
Industrial & warehouse | 1,883 | 3,446 | — | 2,482 | 10 | |||||||||||||||||||||||||||||||
Other | 1,135 | 1,547 | — | 1,600 | — | |||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | |||||||||||||||||||||||||||||||
Commercial business | 808 | 948 | — | 291 | — | |||||||||||||||||||||||||||||||
Trade finance | — | — | — | — | — | |||||||||||||||||||||||||||||||
Consumer and other | 767 | 831 | — | 779 | — | |||||||||||||||||||||||||||||||
$ | 13,892 | $ | 19,773 | $ | — | $ | 13,640 | $ | 86 | |||||||||||||||||||||||||||
Total | $ | 23,551 | $ | 31,021 | $ | 1,714 | $ | 26,178 | $ | 148 | ||||||||||||||||||||||||||
Allowance for Loan Losses and Impaired Loans, Qualitative and Quantitative Analysis | ' | |||||||||||||||||||||||||||||||||||
The following table presents loans by portfolio segment and impairment method at March 31, 2014 and December 31, 2013: | ||||||||||||||||||||||||||||||||||||
As of March 31, 2014 | ||||||||||||||||||||||||||||||||||||
Real Estate— | Real Estate— | Real Estate— | Commercial | Trade | Consumer | Total | ||||||||||||||||||||||||||||||
Residential | Commercial | Construction | Business | Finance | and Other | |||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Impaired loans (gross carrying value) | $ | — | $ | 72,350 | $ | 1,605 | $ | 40,139 | $ | 6,263 | $ | 1,477 | $ | 121,834 | ||||||||||||||||||||||
Specific allowance | $ | — | $ | 4,803 | $ | — | $ | 4,630 | $ | 761 | $ | — | $ | 10,194 | ||||||||||||||||||||||
Loss coverage ratio | 0 | % | 6.6 | % | 0 | % | 11.5 | % | 12.2 | % | — | % | 8.4 | % | ||||||||||||||||||||||
Non-impaired loans | $ | 11,035 | $ | 3,875,575 | $ | 74,433 | $ | 882,887 | $ | 129,375 | $ | 97,418 | $ | 5,070,723 | ||||||||||||||||||||||
General allowance | $ | 25 | $ | 40,030 | $ | 566 | $ | 12,171 | $ | 2,183 | $ | 530 | $ | 55,505 | ||||||||||||||||||||||
Loss coverage ratio | 0.2 | % | 1 | % | 0.8 | % | 1.4 | % | 1.7 | % | 0.5 | % | 1.1 | % | ||||||||||||||||||||||
Total loans | $ | 11,035 | $ | 3,947,925 | $ | 76,038 | $ | 923,026 | $ | 135,638 | $ | 98,895 | $ | 5,192,557 | ||||||||||||||||||||||
Total allowance for loan losses | $ | 25 | $ | 44,833 | $ | 566 | $ | 16,801 | $ | 2,944 | $ | 530 | $ | 65,699 | ||||||||||||||||||||||
Loss coverage ratio | 0.2 | % | 1.1 | % | 0.7 | % | 1.8 | % | 2.2 | % | 0.5 | % | 1.3 | % | ||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||||||
Real Estate— | Real Estate— | Real Estate— | Commercial | Trade | Consumer | Total | ||||||||||||||||||||||||||||||
Residential | Commercial | Construction | Business | Finance | and Other | |||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Impaired loans (gross carrying value) | $ | — | $ | 67,544 | $ | 1,625 | $ | 40,106 | $ | 5,692 | $ | 1,302 | $ | 116,269 | ||||||||||||||||||||||
Specific allowance | $ | — | $ | 6,670 | $ | — | $ | 5,805 | $ | 159 | $ | 32 | $ | 12,666 | ||||||||||||||||||||||
Loss coverage ratio | 0 | % | 9.9 | % | 0 | % | 14.5 | % | 2.8 | % | 2.5 | % | 10.9 | % | ||||||||||||||||||||||
Non-impaired loans | $ | 10,039 | $ | 3,753,619 | $ | 71,231 | $ | 908,987 | $ | 118,993 | $ | 97,205 | $ | 4,960,074 | ||||||||||||||||||||||
General allowance | $ | 25 | $ | 39,227 | $ | 628 | $ | 11,787 | $ | 2,494 | $ | 493 | $ | 54,654 | ||||||||||||||||||||||
Loss coverage ratio | 0.2 | % | 1 | % | 0.9 | % | 1.3 | % | 2.1 | % | 0.5 | % | 1.1 | % | ||||||||||||||||||||||
Total loans | $ | 10,039 | $ | 3,821,163 | $ | 72,856 | $ | 949,093 | $ | 124,685 | $ | 98,507 | $ | 5,076,343 | ||||||||||||||||||||||
Total allowance for loan losses | $ | 25 | $ | 45,897 | $ | 628 | $ | 17,592 | $ | 2,653 | $ | 525 | $ | 67,320 | ||||||||||||||||||||||
Loss coverage ratio | 0.2 | % | 1.2 | % | 0.9 | % | 1.9 | % | 2.1 | % | 0.5 | % | 1.3 | % | ||||||||||||||||||||||
Troubled Debt Restructurings | ' | |||||||||||||||||||||||||||||||||||
A summary of TDRs on accrual and nonaccrual status by type of concession as of March 31, 2014 and December 31, 2013 is presented below: | ||||||||||||||||||||||||||||||||||||
As of March 31, 2014 | ||||||||||||||||||||||||||||||||||||
TDRs on Accrual | TDRs on Nonaccrual | Total | ||||||||||||||||||||||||||||||||||
Real Estate— | Commercial | Other | Total | Real Estate— | Commercial | Other | Total | |||||||||||||||||||||||||||||
Commercial | Business | Commercial | Business | |||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Payment concession | $ | 7,896 | $ | 810 | $ | — | $ | 8,706 | $ | 9,010 | $ | 2,445 | $ | 761 | $ | 12,216 | $ | 20,922 | ||||||||||||||||||
Maturity / Amortization concession | 1,811 | 9,442 | 717 | 11,970 | 2,382 | 2,124 | 1,263 | 5,769 | 17,739 | |||||||||||||||||||||||||||
Rate concession | 12,473 | 4,378 | — | 16,851 | 8,229 | 28 | — | 8,257 | 25,108 | |||||||||||||||||||||||||||
Principal forgiveness | — | — | — | — | — | 46 | — | 46 | 46 | |||||||||||||||||||||||||||
$ | 22,180 | $ | 14,630 | $ | 717 | $ | 37,527 | $ | 19,621 | $ | 4,643 | $ | 2,024 | $ | 26,288 | $ | 63,815 | |||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||||||
TDRs on Accrual | TDRs on Nonaccrual | Total | ||||||||||||||||||||||||||||||||||
Real Estate— | Commercial | Other | Total | Real Estate— | Commercial | Other | Total | |||||||||||||||||||||||||||||
Commercial | Business | Commercial | Business | |||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Payment concession | $ | 7,437 | $ | 1,057 | $ | — | $ | 8,494 | $ | 9,489 | $ | 1,279 | $ | 767 | $ | 11,535 | $ | 20,029 | ||||||||||||||||||
Maturity / Amortization concession | 765 | 6,565 | 535 | 7,865 | 1,653 | 3,656 | — | 5,309 | 13,174 | |||||||||||||||||||||||||||
Rate concession | 13,055 | 4,490 | — | 17,545 | 8,107 | — | — | 8,107 | 25,652 | |||||||||||||||||||||||||||
Principal forgiveness | — | — | — | — | — | 49 | — | 49 | 49 | |||||||||||||||||||||||||||
$ | 21,257 | $ | 12,112 | $ | 535 | $ | 33,904 | $ | 19,249 | $ | 4,984 | $ | 767 | $ | 25,000 | $ | 58,904 | |||||||||||||||||||
The following table presents loans by class modified as TDRs that occurred during the three months ended March 31, 2014: | ||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||||||||||||||||||||||||||
Number of | Pre- | Post- | ||||||||||||||||||||||||||||||||||
Loans | Modification | Modification | ||||||||||||||||||||||||||||||||||
(Dollars in thousand) | ||||||||||||||||||||||||||||||||||||
Legacy Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | — | $ | — | $ | — | |||||||||||||||||||||||||||||||
Hotel & motel | — | — | — | |||||||||||||||||||||||||||||||||
Gas station & car wash | — | — | — | |||||||||||||||||||||||||||||||||
Mixed use | — | — | — | |||||||||||||||||||||||||||||||||
Industrial & warehouse | — | — | — | |||||||||||||||||||||||||||||||||
Other | 1 | 1,023 | 1,018 | |||||||||||||||||||||||||||||||||
Real estate - construction | — | — | — | |||||||||||||||||||||||||||||||||
Commercial business | 2 | 296 | 121 | |||||||||||||||||||||||||||||||||
Trade finance | — | — | — | |||||||||||||||||||||||||||||||||
Consumer and other | 1 | 195 | 192 | |||||||||||||||||||||||||||||||||
Subtotal | 4 | $ | 1,514 | $ | 1,331 | |||||||||||||||||||||||||||||||
Acquired Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | — | $ | — | $ | — | |||||||||||||||||||||||||||||||
Hotel & motel | — | — | — | |||||||||||||||||||||||||||||||||
Gas station & car wash | — | — | — | |||||||||||||||||||||||||||||||||
Mixed use | — | — | — | |||||||||||||||||||||||||||||||||
Industrial & warehouse | 1 | 756 | 812 | |||||||||||||||||||||||||||||||||
Other | 1 | 240 | 240 | |||||||||||||||||||||||||||||||||
Real estate—construction | — | — | — | |||||||||||||||||||||||||||||||||
Commercial business | 7 | 4,483 | 4,639 | |||||||||||||||||||||||||||||||||
Trade finance | 1 | 92 | 380 | |||||||||||||||||||||||||||||||||
Subtotal | 10 | $ | 5,571 | $ | 6,071 | |||||||||||||||||||||||||||||||
14 | $ | 7,085 | $ | 7,402 | ||||||||||||||||||||||||||||||||
Summary of Troubled Debt Restructurings with Subsequent Payment Default | ' | |||||||||||||||||||||||||||||||||||
The following table presents loans by class for TDRs that have been modified within the previous twelve months and have subsequently had a payment default during the three months ended March 31, 2014: | ||||||||||||||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||||||||||||||
31-Mar-14 | ||||||||||||||||||||||||||||||||||||
Number of Loans | Balance | |||||||||||||||||||||||||||||||||||
(Dollars In thousands) | ||||||||||||||||||||||||||||||||||||
Legacy Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | — | $ | — | |||||||||||||||||||||||||||||||||
Gas station & car wash | — | — | ||||||||||||||||||||||||||||||||||
Industrial & warehouse | — | — | ||||||||||||||||||||||||||||||||||
Other | — | — | ||||||||||||||||||||||||||||||||||
Commercial business | 2 | 536 | ||||||||||||||||||||||||||||||||||
Subtotal | 2 | $ | 536 | |||||||||||||||||||||||||||||||||
Acquired Loans: | ||||||||||||||||||||||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||||||
Retail | 2 | $ | 268 | |||||||||||||||||||||||||||||||||
Gas station & car wash | — | — | ||||||||||||||||||||||||||||||||||
Hotel & motel | — | — | ||||||||||||||||||||||||||||||||||
Industrial & warehouse | — | — | ||||||||||||||||||||||||||||||||||
Other | — | — | ||||||||||||||||||||||||||||||||||
Commercial business | 2 | 44 | ||||||||||||||||||||||||||||||||||
Subtotal | 4 | $ | 312 | |||||||||||||||||||||||||||||||||
6 | $ | 848 | ||||||||||||||||||||||||||||||||||
Covered Non-performing Assets | ' | |||||||||||||||||||||||||||||||||||
The covered nonperforming assets at March 31, 2014 and December 31, 2013 were as follows: | ||||||||||||||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||
Covered loans on nonaccrual status | $ | 1,400 | $ | 236 | ||||||||||||||||||||||||||||||||
Covered OREO | 590 | 590 | ||||||||||||||||||||||||||||||||||
Total covered nonperforming assets | $ | 1,990 | $ | 826 | ||||||||||||||||||||||||||||||||
Acquired covered loans | $ | 54,229 | $ | 55,088 | ||||||||||||||||||||||||||||||||
Borrowings_Tables
Borrowings (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Contractual Maturities for FHLB-SF Borrowings | ' | |||||||
At March 31, 2014, the contractual maturities for FHLB advances were as follows: | ||||||||
Contractual | Maturity/ | |||||||
Maturities | Put Date | |||||||
(In thousands) | ||||||||
Due within one year | $ | 30,000 | $ | 51,260 | ||||
Due after one year through five years | 391,260 | 370,000 | ||||||
$ | 421,260 | $ | 421,260 | |||||
Subordinated_Debentures_Tables
Subordinated Debentures (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Subordinated Borrowings [Abstract] | ' | ||||||||||||||||||||
Summary of Trust Preferred Securities and Debentures | ' | ||||||||||||||||||||
The following table is a summary of trust preferred securities and Debentures at March 31, 2014: | |||||||||||||||||||||
Issuance Trust | Issuance | Trust | Subordinated | Rate | Initial | Coupon Rate at | Maturity | ||||||||||||||
Date | Preferred | Debentures | Type | Rate | 31-Mar-14 | Date | |||||||||||||||
Security | Amount | ||||||||||||||||||||
Amount | |||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Nara Capital Trust III | 6/5/03 | $ | 5,000 | $ | 5,155 | Variable | 4.44 | % | 3.38 | % | 6/15/33 | ||||||||||
Nara Statutory Trust IV | 12/22/03 | 5,000 | 5,155 | Variable | 4.02 | % | 3.09 | % | 1/7/34 | ||||||||||||
Nara Statutory Trust V | 12/17/03 | 10,000 | 10,310 | Variable | 4.12 | % | 3.18 | % | 12/17/33 | ||||||||||||
Nara Statutory Trust VI | 3/22/07 | 8,000 | 8,248 | Variable | 7 | % | 1.88 | % | 6/15/37 | ||||||||||||
Center Capital Trust I | 12/30/03 | 18,000 | 13,169 | Variable | 4.01 | % | 3.09 | % | (1) | 1/7/34 | |||||||||||
TOTAL ISSUANCE | $ | 46,000 | $ | 42,037 | |||||||||||||||||
(1) The Center Capital Trust I trust preferred security was assumed in the merger with Center Financial Corporation. The remaining discount | |||||||||||||||||||||
was $5.4 million at March 31, 2014 and the effective rate of the security, including the effect of the discount accretion, was 5.31% at | |||||||||||||||||||||
March 31, 2014. |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 3 Months Ended | |||||||||
Mar. 31, 2014 | ||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||
Schedule of Finite-Lived Intangible Assets | ' | |||||||||
The following table provides information regarding the core deposit intangibles at March 31, 2014: | ||||||||||
As of March 31, 2014 | ||||||||||
Gross | Accumulated | |||||||||
Carrying | Amortization | |||||||||
Amount | ||||||||||
Intangible assets: | Amortization | |||||||||
period | ||||||||||
Core deposit—Center Financial Corporation acquisition | 7 years | $ | 4,100 | $ | (2,145 | ) | ||||
Core deposit—PIB acquisition | 7 years | 603 | (171 | ) | ||||||
Core deposit—Foster acquisition | 10 years | 2,763 | (291 | ) | ||||||
Total | $ | 7,466 | $ | (2,607 | ) | |||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | |||||||||||||||
Mar. 31, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ' | |||||||||||||||
Assets and liabilities measured at fair value on a recurring basis are summarized below: | ||||||||||||||||
Fair Value Measurements at the End of the Reporting Period Using | ||||||||||||||||
March 31, 2014 | Quoted Prices | Significant | Significant | |||||||||||||
in Active | Other | Unobservable | ||||||||||||||
Markets for | Observable | Inputs | ||||||||||||||
Identical Assets | Inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||
(In thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Securities available for sale: | ||||||||||||||||
GSE collateralized mortgage obligations | $ | 279,354 | $ | — | $ | 279,354 | $ | — | ||||||||
GSE mortgage-backed securities | 418,961 | — | 418,961 | — | ||||||||||||
Trust preferred securities | 3,800 | — | 3,800 | — | ||||||||||||
Municipal bonds | 6,019 | — | 4,887 | 1,132 | ||||||||||||
Mutual funds | 17,095 | 17,095 | — | — | ||||||||||||
Fair Value Measurements at the End of the Reporting Period Using | ||||||||||||||||
December 31, 2013 | Quoted Prices | Significant | Significant | |||||||||||||
in Active | Other | Unobservable | ||||||||||||||
Markets for | Observable | Inputs | ||||||||||||||
Identical Assets | Inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||
(In thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Securities available for sale: | ||||||||||||||||
GSE collateralized mortgage obligations | $ | 274,101 | $ | — | $ | 274,101 | $ | — | ||||||||
GSE mortgage-backed securities | 404,996 | — | 404,996 | — | ||||||||||||
Trust preferred securities | 3,697 | — | 3,697 | — | ||||||||||||
Municipal bonds | 5,936 | — | 4,824 | 1,112 | ||||||||||||
Mutual funds | 17,021 | 17,021 | — | — | ||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | |||||||||||||||
The table below presents a reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2014: | ||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
(In thousands) | ||||||||||||||||
Beginning Balance, January 1 | $ | 1,112 | $ | — | ||||||||||||
Purchases, issuances and settlements | — | 1,200 | ||||||||||||||
Amortization | — | — | ||||||||||||||
Total gains or (losses) included in earnings | — | — | ||||||||||||||
Total gains or (losses) included in other comprehensive income | 20 | 6 | ||||||||||||||
Ending Balance, March 31 | $ | 1,132 | $ | 1,206 | ||||||||||||
Assets Measured at Fair Value on a Non-recurring Basis | ' | |||||||||||||||
Assets measured at fair value on a non-recurring basis are summarized below: | ||||||||||||||||
Fair Value Measurements at the End of the Reporting Period Using | ||||||||||||||||
March 31, 2014 | Quoted Prices | Significant | Significant | |||||||||||||
in Active | Other | Unobservable | ||||||||||||||
Markets for | Observable | Inputs | ||||||||||||||
Identical Assets | Inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||
(In thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Impaired loans at fair value: | ||||||||||||||||
Real estate loans | $ | 34,075 | $ | — | $ | 34,075 | $ | — | ||||||||
Commercial business | 3,504 | — | 3,504 | — | ||||||||||||
Trade finance | 385 | — | 385 | — | ||||||||||||
Consumer | 952 | — | 952 | — | ||||||||||||
Loans held for sale, net | 34 | — | 34 | — | ||||||||||||
OREO | 5,039 | — | 5,039 | — | ||||||||||||
Fair Value Measurements at the End of the Reporting Period Using | ||||||||||||||||
December 31, 2013 | Quoted Prices | Significant | Significant | |||||||||||||
in Active | Other | Unobservable | ||||||||||||||
Markets for | Observable | Inputs | ||||||||||||||
Identical Assets | Inputs | (Level 3) | ||||||||||||||
(Level 1) | (Level 2) | |||||||||||||||
(In thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Impaired loans at fair value: | ||||||||||||||||
Real estate loans | $ | 18,746 | $ | — | $ | 18,746 | $ | — | ||||||||
Commercial business | 2,383 | — | 2,383 | — | ||||||||||||
Loans held for sale, net | 6,900 | — | 6,900 | — | ||||||||||||
OREO | 4,003 | — | 4,003 | — | ||||||||||||
For assets measured at fair value on a non-recurring basis, the total net (losses) gains, which include charge offs, recoveries, specific reserves, and gains and losses on sales recognized are summarized below: | ||||||||||||||||
For the three months ended March 31, | ||||||||||||||||
2014 | 2013 | |||||||||||||||
(In thousands) | ||||||||||||||||
Assets: | ||||||||||||||||
Impaired loans at fair value: | ||||||||||||||||
Real estate loans | $ | 1,704 | $ | (7,584 | ) | |||||||||||
Commercial business | (10,715 | ) | 535 | |||||||||||||
Trade Finance | (659 | ) | — | |||||||||||||
Consumer | (46 | ) | — | |||||||||||||
OREO | (11 | ) | (114 | ) | ||||||||||||
Carrying Amounts and Estimated Fair Values of Financial Instruments | ' | |||||||||||||||
Carrying amounts and estimated fair values of financial instruments, not previously presented, at March 31, 2014 and December 31, 2013 were as follows: | ||||||||||||||||
March 31, 2014 | ||||||||||||||||
Carrying | Estimated | Fair Value Measurement Using | ||||||||||||||
Amount | Fair Value | |||||||||||||||
(In thousands) | ||||||||||||||||
Financial Assets: | ||||||||||||||||
Cash and cash equivalents | $ | 403,111 | $ | 403,111 | Level 1 | |||||||||||
Loans held for sale | 38,157 | 40,065 | Level 2 | |||||||||||||
Loans receivable—net | 5,125,095 | 5,569,266 | Level 3 | |||||||||||||
FDIC loss share receivable | 253 | 253 | Level 3 | |||||||||||||
Customers’ liabilities on acceptances | 4,473 | 4,473 | Level 2 | |||||||||||||
Financial Liabilities: | ||||||||||||||||
Noninterest bearing deposits | $ | 1,442,348 | $ | 1,442,348 | Level 2 | |||||||||||
Saving and other interest bearing demand deposits | 1,602,514 | 1,602,514 | Level 2 | |||||||||||||
Time deposits | 2,289,698 | 2,294,381 | Level 2 | |||||||||||||
FHLB advances | 421,260 | 421,059 | Level 2 | |||||||||||||
Subordinated debentures | 42,037 | 44,012 | Level 2 | |||||||||||||
Bank’s liabilities on acceptances outstanding | 4,473 | 4,473 | Level 2 | |||||||||||||
December 31, 2013 | ||||||||||||||||
Carrying | Estimated | Fair Value Measurement Using | ||||||||||||||
Amount | Fair Value | |||||||||||||||
(In thousands) | ||||||||||||||||
Financial Assets: | ||||||||||||||||
Cash and cash equivalents | $ | 316,705 | $ | 316,705 | Level 1 | |||||||||||
Loans held for sale | 44,115 | 45,975 | Level 2 | |||||||||||||
Loans receivable—net | 5,006,856 | 5,450,008 | Level 3 | |||||||||||||
FDIC loss share receivable | 1,110 | 1,110 | Level 3 | |||||||||||||
Customers’ liabilities on acceptances | 5,602 | 5,602 | Level 2 | |||||||||||||
Financial Liabilities: | ||||||||||||||||
Noninterest bearing deposits | $ | 1,399,454 | $ | 1,399,454 | Level 2 | |||||||||||
Saving and other interest bearing demand deposits | 1,598,514 | 1,598,514 | Level 2 | |||||||||||||
Time deposits | 2,150,089 | 2,156,514 | Level 2 | |||||||||||||
FHLB advances | 421,352 | 421,258 | Level 2 | |||||||||||||
Subordinated debentures | 57,410 | 56,544 | Level 2 | |||||||||||||
Bank’s liabilities on acceptances outstanding | 5,602 | 5,602 | Level 2 | |||||||||||||
Stockholders_Equity_and_Regula1
Stockholders’ Equity and Regulatory Matters (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Stockholders’ Equity and Regulatory Matters [Abstract] | ' | ||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | ' | ||||||||||||||||||||
The Company’s and the Bank’s actual capital amounts and ratios are presented in the table below: | |||||||||||||||||||||
Actual | Required | Required | |||||||||||||||||||
For Capital | To Be Well | ||||||||||||||||||||
Adequacy Purposes | Capitalized under | ||||||||||||||||||||
Prompt Corrective | |||||||||||||||||||||
Action Provisions | |||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
As of March 31, 2014 | |||||||||||||||||||||
Total capital (to risk-weighted assets): | |||||||||||||||||||||
Company | $ | 830,822 | 14.89 | % | $ | 446,256 | 8 | % | N/A | N/A | |||||||||||
Bank | $ | 815,512 | 14.63 | % | $ | 446,023 | 8 | % | $ | 557,528 | 10 | % | |||||||||
Tier I capital (to risk-weighted assets): | |||||||||||||||||||||
Company | $ | 764,197 | 13.7 | % | $ | 223,128 | 4 | % | N/A | N/A | |||||||||||
Bank | $ | 748,887 | 13.43 | % | $ | 223,011 | 4 | % | $ | 334,517 | 6 | % | |||||||||
Tier I capital (to average assets): | |||||||||||||||||||||
Company | $ | 764,197 | 11.88 | % | $ | 257,227 | 4 | % | N/A | N/A | |||||||||||
Bank | $ | 748,887 | 11.66 | % | $ | 256,934 | 4 | % | $ | 321,168 | 5 | % | |||||||||
Actual | Required | Required | |||||||||||||||||||
For Capital | To Be Well | ||||||||||||||||||||
Adequacy Purposes | Capitalized under | ||||||||||||||||||||
Prompt Corrective | |||||||||||||||||||||
Action Provisions | |||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||
Total capital (to risk-weighted assets): | |||||||||||||||||||||
Company | $ | 819,408 | 14.9 | % | $ | 439,687 | 8 | % | N/A | N/A | |||||||||||
Bank | $ | 807,620 | 14.7 | % | $ | 439,437 | 8 | % | $ | 549,471 | 10 | % | |||||||||
Tier I capital (to risk-weighted assets): | |||||||||||||||||||||
Company | $ | 751,204 | 13.66 | % | $ | 219,844 | 4 | % | N/A | N/A | |||||||||||
Bank | $ | 739,416 | 13.46 | % | $ | 219,798 | 4 | % | $ | 329,683 | 6 | % | |||||||||
Tier I capital (to average assets): | |||||||||||||||||||||
Company | $ | 751,204 | 11.97 | % | $ | 251,049 | 4 | % | N/A | N/A | |||||||||||
Bank | $ | 739,416 | 11.79 | % | $ | 250,954 | 4 | % | $ | 313,687 | 5 | % | |||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||||||
The following table presents the components of accumulated other comprehensive loss at March 31, 2014 and December 31, 2013: | |||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||
Net unrealized loss on securities available for sale | $ | (3,826 | ) | $ | (10,264 | ) | |||||||||||||||
Net unrealized gain on interest-only strips | 85 | 79 | |||||||||||||||||||
Total accumulated other comprehensive loss | $ | (3,741 | ) | $ | (10,185 | ) |
Business_Combinations_Summary_
Business Combinations - Summary of Assets Acquired and Liabilities Assumed (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Aug. 13, 2013 | Mar. 31, 2014 | Feb. 15, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Feb. 15, 2013 |
In Thousands, except Share data, unless otherwise specified | Foster Bankshares Inc | Foster Bankshares Inc | Pacific International Bancorp, Inc. | Common Stock | Common Stock | Preferred Stock | ||
Foster Bankshares Inc | Pacific International Bancorp, Inc. | |||||||
Business Acquisition, Equity Interests Issued or Issuable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Class Of Warrant Or Right, Number Of Securities in Potential Repurchase | ' | ' | ' | ' | ' | 342,610 | ' | ' |
BBCN common stock issued | ' | ' | $2,567 | ' | $8,437 | ' | ' | ' |
Cash paid | ' | ' | ' | 1,922 | 1 | ' | ' | ' |
Liability for unredeemed Foster common stock | ' | ' | ' | ' | ' | ' | 155 | ' |
Redemption of Preferred Stock | ' | ' | ' | ' | ' | ' | ' | 7,475 |
Total consideration paid | ' | ' | 4,644 | ' | 15,913 | ' | ' | ' |
Assets Acquired: | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | 42,883 | ' | 25,968 | ' | ' | ' |
Investment securities available for sale | ' | ' | 4,844 | ' | 7,810 | ' | ' | ' |
Loans receivable | ' | ' | 255,297 | ' | 131,589 | ' | ' | ' |
FRB and FHLB stock | ' | ' | 1,714 | ' | 1,829 | ' | ' | ' |
OREO | ' | ' | 14,251 | ' | 3,418 | ' | ' | ' |
Premises and equipment | ' | ' | 4,733 | ' | ' | ' | ' | ' |
Deferred tax assets, net | ' | ' | 21,211 | ' | 9,886 | ' | ' | ' |
Core deposit intangibles | ' | ' | 2,763 | ' | 604 | ' | ' | ' |
Other assets | ' | ' | 2,353 | ' | 2,514 | ' | ' | ' |
Liabilities Assumed: | ' | ' | ' | ' | ' | ' | ' | ' |
Deposits | ' | ' | -321,596 | ' | -143,665 | ' | ' | ' |
Borrowings | ' | ' | -18,045 | ' | -14,698 | ' | ' | ' |
Subordinated debentures | ' | ' | -15,309 | ' | -4,108 | ' | ' | ' |
Other liabilities | ' | ' | -5,980 | ' | -5,116 | ' | ' | ' |
Total identifiable net assets | ' | ' | -10,881 | ' | 16,031 | ' | ' | ' |
Goodwill | $105,401 | $105,401 | $15,525 | ' | $118 | ' | ' | ' |
Business_Combinations_Fair_Val
Business Combinations - Fair Value of Acquired Loans (Details) (USD $) | Aug. 13, 2013 | Feb. 15, 2013 |
In Thousands, unless otherwise specified | Foster Bankshares Inc | Pacific International Bancorp, Inc. |
Business Acquisition [Line Items] | ' | ' |
Contractually required principal and interest at acquisition | $150,430 | $54,462 |
Contractual cash flows not expected to be collected (nonaccretable discount) | 37,447 | 9,687 |
Expected cash flows at acquisition | 112,983 | 44,775 |
Interest component of expected cash flows (accretable discount) | 14,928 | 4,945 |
Fair value of acquired loans | $98,055 | $39,830 |
Business_Combinations_Summary_1
Business Combinations - Summary of Pro Forma Information (Details) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Business Acquisition, Pro Forma Information [Abstract] | ' | ' |
Net Interest income | $64,966 | $69,576 |
Net income | $22,196 | $13,847 |
Pro forma earnings (loss) per share: | ' | ' |
Basic (dollars per share) | $0.28 | $0.18 |
Diluted (dollars per share) | $0.28 | $0.18 |
Business_Combinations_Addition
Business Combinations - Additional Information (Details) (USD $) | 3 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | |||||||||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Aug. 13, 2013 | Aug. 13, 2013 | Aug. 13, 2013 | Feb. 15, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | |
Foster Bankshares Inc | Foster Bankshares Inc | Foster Bankshares Inc | Foster Bankshares Inc | Pacific International Bancorp, Inc. | Pacific International Bancorp, Inc. | Pacific International Bancorp, Inc. | Exchanged For Shares Of Company | Purchased For Cash | Not Redeemed | ||||
Illinois | Virginia | Foster Bankshares Inc | Foster Bankshares Inc | Foster Bankshares Inc | |||||||||
bank_location | bank_location | ||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business combination, number of acquired bank branches | ' | ' | ' | ' | ' | 8 | 1 | ' | ' | ' | ' | ' | ' |
Business acquisition share price | ' | ' | ' | ' | $34.67 | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion shares per share of acquiree | ' | ' | ' | ' | 2.62771 | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued | ' | ' | ' | 180,300 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid | ' | ' | ' | $1,922,000 | ' | ' | ' | $1,000 | ' | ' | ' | ' | ' |
Number of shares of acquiree | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 68,619 | 58,906 | 4,475 |
Goodwill | 105,401,000 | ' | 105,401,000 | ' | 15,525,000 | ' | ' | 118,000 | ' | ' | ' | ' | ' |
Outstanding principal balances of acquired loans | ' | ' | ' | 249,500,000 | ' | ' | ' | ' | 105,300,000 | ' | ' | ' | ' |
Carrying amount of acquired loans | ' | ' | ' | 206,000,000 | ' | ' | ' | ' | 88,800,000 | ' | ' | ' | ' |
Merger and integration expense | $173,000 | $1,305,000 | ' | $142,000 | ' | ' | ' | ' | $31,000 | $1,300,000 | ' | ' | ' |
StockBased_Compensation_Plan_D
Stock-Based Compensation - Plan Description (Details) | 3 Months Ended |
Mar. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Number of shares available for grant (in shares) | 2,752,912 |
Minimum | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Purchase price of common stock, percent (in hundredths) | 100.00% |
Restricted stock, performance shares and performance units | Minimum | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Restricted Stock, Restriction Period | '1 year |
Time based vesting of grants | Maximum | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Restricted Stock, Restriction Period | '3 years |
BBCN 2007 Plan | Minimum | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Purchase price of common stock, percent (in hundredths) | 100.00% |
BBCN 2007 Plan | Stock options and stock appreciation rights | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Contractual term | '10 years |
BBCN 2007 Plan | Stock options and stock appreciation rights | Minimum | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Award vesting period minimum | '3 years |
BBCN 2007 Plan | Stock options and stock appreciation rights | Maximum | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Award vesting period minimum | '5 years |
2006 Plan | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% |
2006 Plan | Nonemployee director | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Contractual term | '10 years |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.00% |
StockBased_Compensation_Stock_
Stock-Based Compensation - Stock Option Activity (Details) (Stock options, USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Stock options | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' |
Outstanding - beginning of period (in shares) | 420,594 |
Granted (in shares) | 0 |
Exercised (in shares) | 0 |
Expired (in shares) | -21,382 |
Forfeited (in shares) | 0 |
Outstanding - end of period (in shares) | 399,212 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' |
Outstanding - beginning of period, Weighted-Average Exercise Price Per Share | $20.44 |
Granted, Weighted-Average Exercise Price Per Share | $0 |
Exercised, Weighted-Average Exercise Price Per Share | $0 |
Expired, Weighted-Average Exercise Price Per Share | $17.57 |
Forfeited, Weighted-Average Exercise Price Per Share | $0 |
Outstanding - end of period, Weighted-Average Exercise Price Per Share | $20.60 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ' |
Options exercisable - end of period (in shares) | 399,212 |
Options exercisable, Weighted-Average Exercise Price Per Share | $20.60 |
Outstanding, Weighted-Average Remaining Contractual Life (Years) | '2 years 8 months 0 days |
Options exercisable, Weighted-Average Remaining Contractual Life (Years) | '2 years 8 months 0 days |
Outstanding, Aggregate Intrinsic Value | $138,215 |
Options exercisable, Aggregate Intrinsic Value | $138,215 |
StockBased_Compensation_Restri
Stock-Based Compensation - Restricted and Performance Unit Activity (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ' | ' |
Allocated share-based compensation expense | $104,000 | $709,000 |
Tax benefit from compensation expense | 43,000 | 67,000 |
Total compensation cost not yet recognized | 1,800,000 | ' |
Total compensation cost not yet recognized, period for recognition | '3 years 1 month 7 days | ' |
Retricted and performance unit activity | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ' | ' |
Outstanding - beginning of the period (in shares) | 200,165 | ' |
Granted (in shares) | 24,000 | ' |
Vested (in shares) | -53,126 | ' |
Forfeited (in shares) | -17,413 | ' |
Outstanding - end of the period (in shares) | 153,626 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' |
Outstanding - beginning of the period, Weighted-Average Grant Date Fair Value (in dollars per share) | $11.57 | ' |
Granted, Weighted-Average Grant Date Fair Value (in dollars per share) | $16.57 | ' |
Vested, Weighted-Average Grant Date Fair Value (in dollars per share) | $10.78 | ' |
Forfeited, Weighted-Average Grant Date Fair Value (in dollars per share) | $12.13 | ' |
Outstanding - end of the period, Weighted-Average Grant Date Fair Value (in dollars per share) | $12.62 | ' |
Performance shares | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ' | ' |
Equity instruments other than options, vested in period | $781,000 | $718,000 |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Net income (Numerator) | ' | ' |
Net income available to common stockholders | $22,196 | $17,461 |
Diluted EPS - common stock | $22,196 | $17,461 |
Shares (Denominator) | ' | ' |
Basic EPS - common stock | 79,489,579 | 78,389,434 |
Effect of Dilutive Securities: | ' | ' |
Stock options and performance units | 58,591 | 79,311 |
Common stock warrants | 91,669 | 11,926 |
Diluted EPS - common stock | 79,639,839 | 78,480,671 |
Per Share (Amount) | ' | ' |
Basic EPS - common stock (in dollars per share) | $0.28 | $0.22 |
Diluted EPS - common stock (in dollars per share) | $0.28 | $0.22 |
Stock options and restricted shares | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share | ' | ' |
Antidilutive shares of common stock | 75,129 | 565,055 |
Warrants | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share | ' | ' |
Antidilutive shares of common stock | 18,392 | 18,044 |
Securities_Available_for_Sale_1
Securities Available for Sale (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $731,748 | $723,401 |
Gross Unrealized Gains | 6,243 | 5,043 |
Gross Unrealized Losses | -12,762 | -22,693 |
Estimated Fair Value | 725,229 | 705,751 |
GSE collateralized mortgage obligations | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 283,963 | 286,608 |
Gross Unrealized Gains | 1,509 | 1,104 |
Gross Unrealized Losses | -6,118 | -13,611 |
Estimated Fair Value | 279,354 | 274,101 |
GSE mortgage-backed securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 420,159 | 409,165 |
Gross Unrealized Gains | 4,352 | 3,620 |
Gross Unrealized Losses | -5,550 | -7,789 |
Estimated Fair Value | 418,961 | 404,996 |
Trust preferred securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 4,520 | 4,516 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | -720 | -819 |
Estimated Fair Value | 3,800 | 3,697 |
Municipal bonds | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 5,681 | 5,687 |
Gross Unrealized Gains | 382 | 319 |
Gross Unrealized Losses | -44 | -70 |
Estimated Fair Value | 6,019 | 5,936 |
Total Debt securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 714,323 | 705,976 |
Gross Unrealized Gains | 6,243 | 5,043 |
Gross Unrealized Losses | -12,432 | -22,289 |
Estimated Fair Value | 708,134 | 688,730 |
Mutual funds - GSE mortgage related securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 17,425 | 17,425 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | -330 | -404 |
Estimated Fair Value | $17,095 | $17,021 |
Securities_Available_for_Sale_2
Securities Available for Sale - Proceeds, Gains and Losses (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Available-for-sale Securities [Abstract] | ' | ' |
Proceeds | $0 | $6,636 |
Gross gains | 0 | 54 |
Gross losses | $0 | $0 |
Securities_Available_for_Sale_3
Securities Available for Sale - Amortized Cost and Estimated Fair Value (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract] | ' | ' |
Amortized Cost - Due within one year | $0 | ' |
Amortized Cost - Due after one year through five years | 340,000 | ' |
Amortized Cost - Due after five years through ten years | 3,883,000 | ' |
Amortized Cost - Due after ten years | 5,978,000 | ' |
Amortized Cost | 731,748,000 | 723,401,000 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ' | ' |
Estimated Fair Value - Due within one year | 0 | ' |
Estimated Fair Value - Due after one year through five years | 349,000 | ' |
Estimated Fair Value - Due after five years through ten years | 4,230,000 | ' |
Estimated Fair Value - Due after ten years | 5,241,000 | ' |
Estimated Fair Value | 725,229,000 | 705,751,000 |
Available-for-sale Securities, Restricted | 349,200,000 | 360,600,000 |
GSE collateralized mortgage obligations | ' | ' |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract] | ' | ' |
Amortized Cost - no single maturity date | 283,963,000 | ' |
Amortized Cost | 283,963,000 | 286,608,000 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ' | ' |
Estimated Fair Value - no single maturity date | 279,354,000 | ' |
Estimated Fair Value | 279,354,000 | 274,101,000 |
GSE mortgage-backed securities | ' | ' |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract] | ' | ' |
Amortized Cost - no single maturity date | 420,159,000 | ' |
Amortized Cost | 420,159,000 | 409,165,000 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ' | ' |
Estimated Fair Value - no single maturity date | 418,960,000 | ' |
Estimated Fair Value | 418,961,000 | 404,996,000 |
Mutual funds - GSE mortgage related securities | ' | ' |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract] | ' | ' |
Amortized Cost - no single maturity date | 17,425,000 | ' |
Amortized Cost | 17,425,000 | 17,425,000 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ' | ' |
Estimated Fair Value - no single maturity date | 17,095,000 | ' |
Estimated Fair Value | $17,095,000 | $17,021,000 |
Securities_Available_for_Sale_4
Securities Available for Sale - Aggregate Unrealized Losses and Fair Value (Details) (USD $) | 3 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | |||||
security | security | GSE collateralized mortgage obligations | GSE collateralized mortgage obligations | GSE mortgage-backed securities | GSE mortgage-backed securities | Trust preferred securities | Trust preferred securities | Municipal bonds | Mutual funds - GSE mortgage related securities | Mutual funds - GSE mortgage related securities | Credit concentration risk | Credit concentration risk | ||||||
security | security | security | security | security | security | security | security | security | Stockholders' equity | Stockholders' equity | ||||||||
Non-US Government and agency securities | Non-US Government and agency securities | |||||||||||||||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Number of Securities, Less than 12 months | 31 | ' | 52 | 10 | [1] | 21 | [1] | 19 | [1] | 29 | [1] | 0 | 1 | 1 | 1 | 1 | ' | ' |
Number of Securities, 12 months or longer | 20 | ' | 11 | 9 | [1] | 3 | [1] | 10 | [1] | 7 | [1] | 1 | 1 | 0 | 0 | 0 | ' | ' |
Number of Securities, Total | 51 | ' | 63 | 19 | [1] | 24 | [1] | 29 | [1] | 36 | [1] | 1 | 2 | 1 | 1 | 1 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Fair Value - Less than 12 months | $264,036,000 | ' | $416,122,000 | $103,382,000 | [1] | $198,713,000 | [1] | $146,427,000 | [1] | $203,276,000 | [1] | $0 | $1,112,000 | $1,132,000 | $13,095,000 | $13,021,000 | ' | ' |
Fair Value - 12 months or longer | 139,479,000 | ' | 31,871,000 | 94,998,000 | [1] | 13,381,000 | [1] | 40,681,000 | [1] | 14,793,000 | [1] | 3,800,000 | 3,697,000 | 0 | 0 | 0 | ' | ' |
Fair Value - Total | 403,515,000 | ' | 447,993,000 | 198,380,000 | [1] | 212,094,000 | [1] | 187,108,000 | [1] | 218,069,000 | [1] | 3,800,000 | 4,809,000 | 1,132,000 | 13,095,000 | 13,021,000 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Gross Unrealized Losses - Less than 12 months | -5,347,000 | ' | -20,227,000 | -2,408,000 | [1] | -12,460,000 | [1] | -2,565,000 | [1] | -7,293,000 | [1] | 0 | -70,000 | -44,000 | -330,000 | -404,000 | ' | ' |
Gross Unrealized Losses - 12 months or longer | -7,415,000 | ' | -2,466,000 | -3,710,000 | [1] | -1,151,000 | [1] | -2,985,000 | [1] | -496,000 | [1] | -720,000 | -819,000 | 0 | 0 | 0 | ' | ' |
Gross Unrealized Losses - Total | -12,762,000 | ' | -22,693,000 | -6,118,000 | [1] | -13,611,000 | [1] | -5,550,000 | [1] | -7,789,000 | [1] | -720,000 | -889,000 | -44,000 | -330,000 | -404,000 | ' | ' |
Maximum exposure to any single issuer | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 10.00% | ||||
Gross unrealized gains (losses) included in accumulated other comprehensive income during the period | 11,100,000 | -3,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reclassification out of accumulated other comprehensive income as a result of securities being sold | $0 | $54,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
[1] | Investments in U.S. Government agency and U.S. Government sponsored enterprises |
Loans_Receivable_and_Allowance2
Loans Receivable and Allowance for Loan Losses - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
segment | ||||
Real estate loans: | ' | ' | ' | ' |
Loans | $5,192,557 | $5,076,343 | ' | ' |
Less: deferred loan fees | -1,763 | -2,167 | ' | ' |
Loans receivable | 5,190,794 | 5,074,176 | ' | ' |
Less: allowance for loan losses | -65,699 | -67,320 | -73,268 | -66,941 |
Loans receivable, net of allowance for loan losses | 5,125,095 | 5,006,856 | ' | ' |
Number Of Portfolio Segments | 4 | ' | ' | ' |
Real estate loans | ' | ' | ' | ' |
Real estate loans: | ' | ' | ' | ' |
Loans | 4,034,998 | 3,904,058 | ' | ' |
Real estate loans | Residential | ' | ' | ' | ' |
Real estate loans: | ' | ' | ' | ' |
Loans | 11,035 | 10,039 | ' | ' |
Less: allowance for loan losses | -25 | -25 | ' | ' |
Real estate loans | Commercial & industrial | ' | ' | ' | ' |
Real estate loans: | ' | ' | ' | ' |
Loans | 3,947,925 | 3,821,163 | ' | ' |
Less: allowance for loan losses | -44,833 | -45,897 | ' | ' |
Real estate loans | Construction | ' | ' | ' | ' |
Real estate loans: | ' | ' | ' | ' |
Loans | 76,038 | 72,856 | ' | ' |
Less: allowance for loan losses | -566 | -628 | ' | ' |
Commercial business | ' | ' | ' | ' |
Real estate loans: | ' | ' | ' | ' |
Loans | 923,026 | 949,093 | ' | ' |
Less: allowance for loan losses | -16,801 | -17,592 | ' | ' |
Trade finance | ' | ' | ' | ' |
Real estate loans: | ' | ' | ' | ' |
Loans | 135,638 | 124,685 | ' | ' |
Less: allowance for loan losses | -2,944 | -2,653 | ' | ' |
Consumer and other | ' | ' | ' | ' |
Real estate loans: | ' | ' | ' | ' |
Loans | 98,895 | 98,507 | ' | ' |
Less: allowance for loan losses | ($530) | ($525) | ' | ' |
Loans_Receivable_and_Allowance3
Loans Receivable and Allowance for Loan Losses - Accretable Yield Movement Schedule on Acquired Credit Impaired Loans in Center Merger (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ' | ' |
Balance at beginning of period | $47,398 | $18,652 |
Additions due to acquisitions during the period | 0 | 4,945 |
Accretion | -4,867 | -3,446 |
Changes in expected cash flows | -9,948 | 3,259 |
Balance at end of period | $32,583 | $23,410 |
Loans_Receivable_and_Allowance4
Loans Receivable and Allowance for Loan Losses - Allowance for Credit Losses on Financing Receivables (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Allowance for Loan Losses by Portfolio Segment | ' | ' | ' |
Balance, beginning of period | $67,320 | $66,941 | ' |
Provision (credit) for loan losses | 3,026 | 7,506 | ' |
Loans charged off | -5,263 | -1,429 | ' |
Recoveries of charged offs | 616 | 250 | ' |
Balance, end of period | 65,699 | 73,268 | ' |
Allowance for loan losses: | ' | ' | ' |
Allowance for loan losses - Individually evaluated for impairment | 10,194 | ' | 12,666 |
Allowance for loan losses - Collectively evaluated for impairment | 49,945 | ' | 49,876 |
Allowance for loan losses - ACILS | 5,560 | ' | 4,778 |
Allowance for loan losses - Total | 65,699 | 73,268 | ' |
Loans outstsanding: | ' | ' | ' |
Loans outstanding - Individually evaluated for impairment | 121,834 | ' | 116,269 |
Loans outstanding - Collectively evaluated for impairment | 4,853,862 | ' | 4,734,767 |
Loans outstanding - ACILs | 216,861 | ' | 225,307 |
Total loans outstanding | 5,192,557 | ' | 5,076,343 |
Legacy | ' | ' | ' |
Loans outstsanding: | ' | ' | ' |
Total loans outstanding | 4,284,773 | ' | 4,097,662 |
Acquired | ' | ' | ' |
Loans outstsanding: | ' | ' | ' |
Total loans outstanding | 907,784 | ' | 978,681 |
Real estate | ' | ' | ' |
Loans outstsanding: | ' | ' | ' |
Total loans outstanding | 4,034,998 | ' | 3,904,058 |
Real estate | Legacy | ' | ' | ' |
Allowance for Loan Losses by Portfolio Segment | ' | ' | ' |
Balance, beginning of period | 40,068 | 41,505 | ' |
Provision (credit) for loan losses | -1,414 | 3,069 | ' |
Loans charged off | -87 | -905 | ' |
Recoveries of charged offs | 19 | 40 | ' |
Balance, end of period | 38,586 | 43,709 | ' |
Allowance for loan losses: | ' | ' | ' |
Allowance for loan losses - Individually evaluated for impairment | 4,248 | ' | 5,578 |
Allowance for loan losses - Collectively evaluated for impairment | 34,338 | ' | 34,490 |
Allowance for loan losses - ACILS | 0 | ' | 0 |
Allowance for loan losses - Total | 38,586 | 43,709 | ' |
Loans outstsanding: | ' | ' | ' |
Loans outstanding - Individually evaluated for impairment | 50,681 | ' | 49,177 |
Loans outstanding - Collectively evaluated for impairment | 3,257,964 | ' | 3,076,924 |
Loans outstanding - ACILs | 0 | ' | 0 |
Total loans outstanding | 3,308,645 | ' | 3,126,101 |
Real estate | Acquired | ' | ' | ' |
Allowance for Loan Losses by Portfolio Segment | ' | ' | ' |
Balance, beginning of period | 6,482 | 4,718 | ' |
Provision (credit) for loan losses | 451 | 5,320 | ' |
Loans charged off | -95 | -151 | ' |
Recoveries of charged offs | 0 | 2 | ' |
Balance, end of period | 6,838 | 9,889 | ' |
Allowance for loan losses: | ' | ' | ' |
Allowance for loan losses - Individually evaluated for impairment | 555 | ' | 1,092 |
Allowance for loan losses - Collectively evaluated for impairment | 723 | ' | 612 |
Allowance for loan losses - ACILS | 5,560 | ' | 4,778 |
Allowance for loan losses - Total | 6,838 | 9,889 | ' |
Loans outstsanding: | ' | ' | ' |
Loans outstanding - Individually evaluated for impairment | 23,274 | ' | 19,992 |
Loans outstanding - Collectively evaluated for impairment | 563,265 | ' | 613,696 |
Loans outstanding - ACILs | 139,814 | ' | 144,269 |
Total loans outstanding | 726,353 | ' | 777,957 |
Commercial business | ' | ' | ' |
Allowance for Loan Losses by Portfolio Segment | ' | ' | ' |
Balance, beginning of period | ' | ' | 17,592 |
Balance, end of period | 16,801 | ' | 17,592 |
Allowance for loan losses: | ' | ' | ' |
Allowance for loan losses - Total | 16,801 | ' | 17,592 |
Loans outstsanding: | ' | ' | ' |
Total loans outstanding | 923,026 | ' | 949,093 |
Commercial business | Legacy | ' | ' | ' |
Allowance for Loan Losses by Portfolio Segment | ' | ' | ' |
Balance, beginning of period | 16,796 | 16,490 | ' |
Provision (credit) for loan losses | 2,547 | 39 | ' |
Loans charged off | -3,725 | -183 | ' |
Recoveries of charged offs | 590 | 176 | ' |
Balance, end of period | 16,208 | 16,522 | ' |
Allowance for loan losses: | ' | ' | ' |
Allowance for loan losses - Individually evaluated for impairment | 4,121 | ' | 5,183 |
Allowance for loan losses - Collectively evaluated for impairment | 12,087 | ' | 11,613 |
Allowance for loan losses - ACILS | 0 | ' | 0 |
Allowance for loan losses - Total | 16,208 | 16,522 | ' |
Loans outstsanding: | ' | ' | ' |
Loans outstanding - Individually evaluated for impairment | 37,565 | ' | 37,314 |
Loans outstanding - Collectively evaluated for impairment | 769,299 | ' | 778,350 |
Loans outstanding - ACILs | 0 | ' | 0 |
Total loans outstanding | 806,864 | ' | 815,664 |
Commercial business | Acquired | ' | ' | ' |
Allowance for Loan Losses by Portfolio Segment | ' | ' | ' |
Balance, beginning of period | 796 | 1,115 | ' |
Provision (credit) for loan losses | 1,011 | -189 | ' |
Loans charged off | -1,220 | -124 | ' |
Recoveries of charged offs | 6 | 7 | ' |
Balance, end of period | 593 | 809 | ' |
Allowance for loan losses: | ' | ' | ' |
Allowance for loan losses - Individually evaluated for impairment | 509 | ' | 622 |
Allowance for loan losses - Collectively evaluated for impairment | 84 | ' | 174 |
Allowance for loan losses - ACILS | 0 | ' | 0 |
Allowance for loan losses - Total | 593 | 809 | ' |
Loans outstsanding: | ' | ' | ' |
Loans outstanding - Individually evaluated for impairment | 2,574 | ' | 2,792 |
Loans outstanding - Collectively evaluated for impairment | 71,138 | ' | 84,325 |
Loans outstanding - ACILs | 42,450 | ' | 46,312 |
Total loans outstanding | 116,162 | ' | 133,429 |
Trade finance | ' | ' | ' |
Allowance for Loan Losses by Portfolio Segment | ' | ' | ' |
Balance, beginning of period | ' | ' | 2,653 |
Balance, end of period | 2,944 | ' | 2,653 |
Allowance for loan losses: | ' | ' | ' |
Allowance for loan losses - Total | 2,944 | ' | 2,653 |
Loans outstsanding: | ' | ' | ' |
Total loans outstanding | 135,638 | ' | 124,685 |
Trade finance | Legacy | ' | ' | ' |
Allowance for Loan Losses by Portfolio Segment | ' | ' | ' |
Balance, beginning of period | 2,653 | 2,349 | ' |
Provision (credit) for loan losses | 348 | -625 | ' |
Loans charged off | -57 | -26 | ' |
Recoveries of charged offs | 0 | 0 | ' |
Balance, end of period | 2,944 | 1,698 | ' |
Allowance for loan losses: | ' | ' | ' |
Allowance for loan losses - Individually evaluated for impairment | 761 | ' | 159 |
Allowance for loan losses - Collectively evaluated for impairment | 2,183 | ' | 2,494 |
Allowance for loan losses - ACILS | 0 | ' | 0 |
Allowance for loan losses - Total | 2,944 | 1,698 | ' |
Loans outstsanding: | ' | ' | ' |
Loans outstanding - Individually evaluated for impairment | 6,263 | ' | 5,692 |
Loans outstanding - Collectively evaluated for impairment | 126,364 | ' | 117,249 |
Loans outstanding - ACILs | 0 | ' | 0 |
Total loans outstanding | 132,627 | ' | 122,941 |
Trade finance | Acquired | ' | ' | ' |
Allowance for Loan Losses by Portfolio Segment | ' | ' | ' |
Balance, beginning of period | 0 | 3 | ' |
Provision (credit) for loan losses | 0 | -3 | ' |
Loans charged off | 0 | 0 | ' |
Recoveries of charged offs | 0 | 0 | ' |
Balance, end of period | 0 | 0 | ' |
Allowance for loan losses: | ' | ' | ' |
Allowance for loan losses - Individually evaluated for impairment | 0 | ' | 0 |
Allowance for loan losses - Collectively evaluated for impairment | 0 | ' | 0 |
Allowance for loan losses - ACILS | 0 | ' | 0 |
Allowance for loan losses - Total | 0 | 0 | ' |
Loans outstsanding: | ' | ' | ' |
Loans outstanding - Individually evaluated for impairment | 0 | ' | 0 |
Loans outstanding - Collectively evaluated for impairment | 0 | ' | 0 |
Loans outstanding - ACILs | 3,011 | ' | 1,744 |
Total loans outstanding | 3,011 | ' | 1,744 |
Consumer and other | ' | ' | ' |
Allowance for Loan Losses by Portfolio Segment | ' | ' | ' |
Balance, beginning of period | ' | ' | 525 |
Balance, end of period | 530 | ' | 525 |
Allowance for loan losses: | ' | ' | ' |
Allowance for loan losses - Total | 530 | ' | 525 |
Loans outstsanding: | ' | ' | ' |
Total loans outstanding | 98,895 | ' | 98,507 |
Consumer and other | Legacy | ' | ' | ' |
Allowance for Loan Losses by Portfolio Segment | ' | ' | ' |
Balance, beginning of period | 461 | 658 | ' |
Provision (credit) for loan losses | 7 | -129 | ' |
Loans charged off | -1 | -7 | ' |
Recoveries of charged offs | 0 | 16 | ' |
Balance, end of period | 467 | 538 | ' |
Allowance for loan losses: | ' | ' | ' |
Allowance for loan losses - Individually evaluated for impairment | 0 | ' | 32 |
Allowance for loan losses - Collectively evaluated for impairment | 467 | ' | 429 |
Allowance for loan losses - ACILS | 0 | ' | 0 |
Allowance for loan losses - Total | 467 | 538 | ' |
Loans outstsanding: | ' | ' | ' |
Loans outstanding - Individually evaluated for impairment | 525 | ' | 535 |
Loans outstanding - Collectively evaluated for impairment | 36,112 | ' | 32,421 |
Loans outstanding - ACILs | 0 | ' | 0 |
Total loans outstanding | 36,637 | ' | 32,956 |
Consumer and other | Acquired | ' | ' | ' |
Allowance for Loan Losses by Portfolio Segment | ' | ' | ' |
Balance, beginning of period | 64 | 103 | ' |
Provision (credit) for loan losses | 76 | 24 | ' |
Loans charged off | -78 | -33 | ' |
Recoveries of charged offs | 1 | 9 | ' |
Balance, end of period | 63 | 103 | ' |
Allowance for loan losses: | ' | ' | ' |
Allowance for loan losses - Individually evaluated for impairment | 0 | ' | 0 |
Allowance for loan losses - Collectively evaluated for impairment | 63 | ' | 64 |
Allowance for loan losses - ACILS | 0 | ' | 0 |
Allowance for loan losses - Total | 63 | 103 | ' |
Loans outstsanding: | ' | ' | ' |
Loans outstanding - Individually evaluated for impairment | 952 | ' | 767 |
Loans outstanding - Collectively evaluated for impairment | 29,720 | ' | 31,802 |
Loans outstanding - ACILs | 31,586 | ' | 32,982 |
Total loans outstanding | $62,258 | ' | $65,551 |
Loans_Receivable_and_Allowance5
Loans Receivable and Allowance for Loan Losses - Impaired Financing Receivables (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | $71,328 | [1] | ' | $86,771 | [1] | |
Recorded Investment, With no related allowance | 50,506 | [1] | ' | 29,498 | [1] | |
Total recorded investment | 121,834 | [1] | ' | 116,269 | [1] | |
Allowance on Impaired Loans | 10,194 | ' | 12,666 | |||
Impaired Loans, net of allowance | 111,640 | ' | 103,603 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 79,757 | ' | 89,840 | |||
Unpaid Contractual Principal Balance, With no related allowance | 71,403 | ' | 55,297 | |||
Impaired Financing Receivable, Unpaid Principal Balance | 151,160 | ' | 145,137 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 79,052 | [1] | 70,883 | [1] | 74,406 | [1] |
Average Recorded Investment, With no related allowance | 40,005 | [1] | 25,210 | [1] | 26,758 | [1] |
Average Recorded Investment, Total | 119,057 | [1] | 96,093 | [1] | 101,164 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 700 | 693 | 3,255 | |||
Interest Income Recognized during Impairment, With no related allowance | 167 | 100 | 308 | |||
Interest Income Recognized during Impairment, Total | 867 | 793 | 3,563 | |||
Threshold period for loans to be placed on nonaccrual status | '90 days | ' | ' | |||
WIthout charge-offs | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 70,845 | ' | 85,920 | |||
Recorded Investment, With no related allowance | 41,383 | ' | 23,160 | |||
With charge-offs | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 483 | ' | 851 | |||
Recorded Investment, With no related allowance | 9,123 | ' | 6,338 | |||
Acquired | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 5,246 | [1] | ' | 9,659 | [1] | |
Recorded Investment, With no related allowance | 21,554 | [1] | ' | 13,892 | [1] | |
Total recorded investment | 26,800 | [1] | ' | 23,551 | [1] | |
Allowance on Impaired Loans | 1,064 | ' | 1,714 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 6,097 | ' | 11,248 | |||
Unpaid Contractual Principal Balance, With no related allowance | 26,803 | ' | 19,773 | |||
Impaired Financing Receivable, Unpaid Principal Balance | 32,900 | ' | 31,021 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 7,453 | [1] | 14,007 | [1] | 12,538 | [1] |
Average Recorded Investment, With no related allowance | 17,725 | [1] | 13,340 | [1] | 13,640 | [1] |
Average Recorded Investment, Total | 25,178 | [1] | 27,347 | [1] | 26,178 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 23 | 95 | 62 | |||
Interest Income Recognized during Impairment, With no related allowance | 20 | 26 | 86 | |||
Interest Income Recognized during Impairment, Total | 43 | 121 | 148 | |||
Commercial | Retail | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | ' | ' | 7,318 | [1] | ||
Commercial | Hotel & motel | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With no related allowance | ' | ' | 6,502 | [1] | ||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With no related allowance | ' | ' | 10,498 | |||
Commercial | Gas station & car wash | ' | ' | ' | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | ' | ' | 3,236 | |||
Commercial | Mixed use | ' | ' | ' | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With no related allowance | ' | ' | 912 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With no related allowance | ' | ' | 697 | [1] | ||
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | ' | ' | 43 | |||
Interest Income Recognized during Impairment, With no related allowance | ' | ' | 0 | |||
Commercial | Industrial & warehouse | ' | ' | ' | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | ' | ' | 12,470 | |||
Commercial | Other | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Allowance on Impaired Loans | ' | ' | 1,461 | |||
Real estate | Residential | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 0 | [1] | ' | 0 | [1] | |
Recorded Investment, With no related allowance | 0 | [1] | ' | 0 | [1] | |
Allowance on Impaired Loans | 0 | ' | 0 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 0 | ' | 0 | |||
Unpaid Contractual Principal Balance, With no related allowance | 0 | ' | 0 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 0 | [1] | 0 | [1] | 0 | [1] |
Average Recorded Investment, With no related allowance | 0 | [1] | 0 | [1] | 0 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | |||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | |||
Real estate | Residential | Acquired | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 0 | [1] | ' | 0 | [1] | |
Recorded Investment, With no related allowance | 0 | [1] | ' | 0 | [1] | |
Allowance on Impaired Loans | 0 | ' | 0 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 0 | ' | 0 | |||
Unpaid Contractual Principal Balance, With no related allowance | 0 | ' | 0 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 0 | [1] | 0 | [1] | 0 | [1] |
Average Recorded Investment, With no related allowance | 0 | [1] | 0 | [1] | 0 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | |||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | |||
Real estate | Commercial | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Allowance on Impaired Loans | 4,803 | ' | 6,670 | |||
Real estate | Commercial | Retail | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 4,334 | [1] | ' | ' | ||
Recorded Investment, With no related allowance | 8,242 | [1] | ' | 4,025 | [1] | |
Allowance on Impaired Loans | 521 | ' | 827 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 4,628 | ' | 7,451 | |||
Unpaid Contractual Principal Balance, With no related allowance | 11,259 | ' | 6,591 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 5,826 | [1] | 6,578 | [1] | 7,783 | [1] |
Average Recorded Investment, With no related allowance | 6,134 | [1] | 1,913 | [1] | 3,428 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 23 | 51 | 181 | |||
Interest Income Recognized during Impairment, With no related allowance | 58 | 0 | 45 | |||
Real estate | Commercial | Retail | Acquired | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 105 | [1] | ' | 391 | [1] | |
Recorded Investment, With no related allowance | 1,834 | [1] | ' | 1,244 | [1] | |
Allowance on Impaired Loans | 27 | ' | 15 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 159 | ' | 397 | |||
Unpaid Contractual Principal Balance, With no related allowance | 3,306 | ' | 2,216 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 248 | [1] | 1,683 | [1] | 1,084 | [1] |
Average Recorded Investment, With no related allowance | 1,539 | [1] | 430 | [1] | 953 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 1 | 25 | 14 | |||
Interest Income Recognized during Impairment, With no related allowance | 7 | 0 | 14 | |||
Real estate | Commercial | Hotel & motel | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 11,741 | [1] | ' | 11,920 | [1] | |
Recorded Investment, With no related allowance | 6,499 | [1] | ' | ' | ||
Allowance on Impaired Loans | 2,036 | ' | 2,841 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 11,741 | ' | 12,744 | |||
Unpaid Contractual Principal Balance, With no related allowance | 11,381 | ' | ' | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 11,831 | [1] | 10,564 | [1] | 11,432 | [1] |
Average Recorded Investment, With no related allowance | 6,501 | [1] | 6,168 | [1] | 6,304 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 133 | 137 | 550 | |||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | |||
Real estate | Commercial | Hotel & motel | Acquired | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 0 | [1] | ' | 0 | [1] | |
Recorded Investment, With no related allowance | 6,378 | [1] | ' | 6,441 | [1] | |
Allowance on Impaired Loans | 0 | ' | 0 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 0 | ' | 0 | |||
Unpaid Contractual Principal Balance, With no related allowance | 8,675 | ' | 8,676 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 0 | [1] | 0 | [1] | 0 | [1] |
Average Recorded Investment, With no related allowance | 6,410 | [1] | 5,959 | [1] | 6,169 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | |||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | |||
Real estate | Commercial | Gas station & car wash | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 3,078 | [1] | ' | 3,145 | [1] | |
Recorded Investment, With no related allowance | 4,654 | [1] | ' | 4,845 | [1] | |
Allowance on Impaired Loans | 533 | ' | 519 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 3,240 | ' | ' | |||
Unpaid Contractual Principal Balance, With no related allowance | 8,161 | ' | 8,273 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 3,112 | [1] | 1,635 | [1] | 2,090 | [1] |
Average Recorded Investment, With no related allowance | 4,750 | [1] | 2,981 | [1] | 3,803 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 19 | 11 | 117 | |||
Interest Income Recognized during Impairment, With no related allowance | 0 | 15 | 139 | |||
Real estate | Commercial | Gas station & car wash | Acquired | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 2,777 | [1] | ' | 794 | [1] | |
Recorded Investment, With no related allowance | 537 | [1] | ' | 1,614 | [1] | |
Allowance on Impaired Loans | 503 | ' | 341 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 2,939 | ' | 885 | |||
Unpaid Contractual Principal Balance, With no related allowance | 990 | ' | 2,109 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 1,786 | [1] | 0 | [1] | 485 | [1] |
Average Recorded Investment, With no related allowance | 1,076 | [1] | 1,315 | [1] | 1,366 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 15 | 0 | 0 | |||
Interest Income Recognized during Impairment, With no related allowance | 0 | 15 | 62 | |||
Real estate | Commercial | Mixed use | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 932 | [1] | ' | 930 | [1] | |
Recorded Investment, With no related allowance | 1,297 | [1] | ' | 845 | [1] | |
Allowance on Impaired Loans | 160 | ' | 212 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 946 | ' | 953 | |||
Unpaid Contractual Principal Balance, With no related allowance | 1,374 | ' | ' | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 931 | [1] | 926 | [1] | 1,108 | [1] |
Average Recorded Investment, With no related allowance | 1,071 | [1] | 890 | [1] | ' | |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 10 | 13 | ' | |||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | ' | |||
Real estate | Commercial | Mixed use | Acquired | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 0 | [1] | ' | 0 | [1] | |
Recorded Investment, With no related allowance | 465 | [1] | ' | 0 | [1] | |
Allowance on Impaired Loans | 0 | ' | 0 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 0 | ' | 0 | |||
Unpaid Contractual Principal Balance, With no related allowance | 465 | ' | 0 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 0 | [1] | 0 | [1] | 0 | [1] |
Average Recorded Investment, With no related allowance | 233 | [1] | 0 | [1] | 0 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | |||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | |||
Real estate | Commercial | Industrial & warehouse | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 7,977 | [1] | ' | 12,398 | [1] | |
Recorded Investment, With no related allowance | 9,444 | [1] | ' | 3,806 | [1] | |
Allowance on Impaired Loans | 413 | ' | 810 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 7,977 | ' | ' | |||
Unpaid Contractual Principal Balance, With no related allowance | 13,134 | ' | 7,204 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 10,188 | [1] | 6,600 | [1] | 9,496 | [1] |
Average Recorded Investment, With no related allowance | 6,625 | [1] | 4,618 | [1] | 3,958 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 75 | 6 | 323 | |||
Interest Income Recognized during Impairment, With no related allowance | 3 | 3 | 10 | |||
Real estate | Commercial | Industrial & warehouse | Acquired | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 0 | [1] | ' | 5,128 | [1] | |
Recorded Investment, With no related allowance | 6,543 | [1] | ' | 1,883 | [1] | |
Allowance on Impaired Loans | 0 | ' | 612 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 0 | ' | 5,200 | |||
Unpaid Contractual Principal Balance, With no related allowance | 6,855 | ' | 3,446 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 2,564 | [1] | 5,552 | [1] | 6,323 | [1] |
Average Recorded Investment, With no related allowance | 4,213 | [1] | 3,294 | [1] | 2,482 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | |||
Interest Income Recognized during Impairment, With no related allowance | 3 | 3 | 10 | |||
Real estate | Commercial | Other | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 10,012 | [1] | ' | 10,262 | [1] | |
Recorded Investment, With no related allowance | 4,140 | [1] | ' | 1,548 | [1] | |
Allowance on Impaired Loans | 1,140 | ' | ' | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 10,037 | ' | 10,351 | |||
Unpaid Contractual Principal Balance, With no related allowance | 6,284 | ' | 3,647 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 10,137 | [1] | 13,670 | [1] | 9,826 | [1] |
Average Recorded Investment, With no related allowance | 2,844 | [1] | 4,214 | [1] | 3,043 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 94 | 159 | 405 | |||
Interest Income Recognized during Impairment, With no related allowance | 16 | 39 | 0 | |||
Real estate | Commercial | Other | Acquired | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 1,412 | [1] | ' | 1,362 | [1] | |
Recorded Investment, With no related allowance | 3,223 | [1] | ' | 1,135 | [1] | |
Allowance on Impaired Loans | 25 | ' | 124 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 1,431 | ' | 1,412 | |||
Unpaid Contractual Principal Balance, With no related allowance | 3,686 | ' | 1,547 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 1,387 | [1] | 3,709 | [1] | 1,819 | [1] |
Average Recorded Investment, With no related allowance | 2,179 | [1] | 1,276 | [1] | 1,600 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 2 | 62 | 43 | |||
Interest Income Recognized during Impairment, With no related allowance | 8 | 8 | 0 | |||
Real estate | Construction | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 0 | [1] | ' | 0 | [1] | |
Recorded Investment, With no related allowance | 1,605 | [1] | ' | 1,625 | [1] | |
Allowance on Impaired Loans | 0 | ' | 0 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 0 | ' | 0 | |||
Unpaid Contractual Principal Balance, With no related allowance | 1,605 | ' | 1,625 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 0 | [1] | 0 | [1] | 0 | [1] |
Average Recorded Investment, With no related allowance | 1,615 | [1] | 1,697 | [1] | 1,670 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | |||
Interest Income Recognized during Impairment, With no related allowance | 21 | 22 | 89 | |||
Real estate | Construction | Acquired | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 0 | [1] | ' | 0 | [1] | |
Recorded Investment, With no related allowance | 0 | [1] | ' | 0 | [1] | |
Allowance on Impaired Loans | 0 | ' | 0 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 0 | ' | 0 | |||
Unpaid Contractual Principal Balance, With no related allowance | 0 | ' | 0 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 0 | [1] | 0 | [1] | 0 | [1] |
Average Recorded Investment, With no related allowance | 0 | [1] | 0 | [1] | 0 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 0 | ' | 0 | |||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | |||
Commercial business | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 27,874 | [1] | ' | 34,663 | [1] | |
Recorded Investment, With no related allowance | 12,265 | [1] | ' | 5,443 | [1] | |
Allowance on Impaired Loans | 4,630 | ' | 5,805 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 28,621 | ' | 36,472 | |||
Unpaid Contractual Principal Balance, With no related allowance | 15,690 | ' | 8,437 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 31,269 | [1] | 24,312 | [1] | 27,010 | [1] |
Average Recorded Investment, With no related allowance | 8,854 | [1] | 1,456 | [1] | 2,770 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 297 | 242 | 1,572 | |||
Interest Income Recognized during Impairment, With no related allowance | 61 | 16 | 25 | |||
Commercial business | Acquired | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 952 | [1] | ' | 1,984 | [1] | |
Recorded Investment, With no related allowance | 1,622 | [1] | ' | 808 | [1] | |
Allowance on Impaired Loans | 509 | ' | 622 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 1,568 | ' | 3,354 | |||
Unpaid Contractual Principal Balance, With no related allowance | 1,803 | ' | 948 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 1,468 | [1] | 3,063 | [1] | 2,827 | [1] |
Average Recorded Investment, With no related allowance | 1,215 | [1] | 273 | [1] | 291 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 5 | 8 | 5 | |||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | |||
Trade finance | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 5,380 | [1] | ' | 5,600 | [1] | |
Recorded Investment, With no related allowance | 883 | [1] | ' | 92 | [1] | |
Allowance on Impaired Loans | 761 | ' | 159 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 12,567 | ' | 5,628 | |||
Unpaid Contractual Principal Balance, With no related allowance | 967 | ' | 7,279 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 5,490 | [1] | 6,543 | [1] | 5,313 | [1] |
Average Recorded Investment, With no related allowance | 488 | [1] | 0 | [1] | 18 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 49 | 73 | 41 | |||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | |||
Trade finance | Acquired | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 0 | [1] | ' | 0 | [1] | |
Recorded Investment, With no related allowance | 0 | [1] | ' | 0 | [1] | |
Allowance on Impaired Loans | 0 | ' | 0 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 0 | ' | 0 | |||
Unpaid Contractual Principal Balance, With no related allowance | 0 | ' | 0 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 0 | [1] | 0 | [1] | 0 | [1] |
Average Recorded Investment, With no related allowance | 0 | [1] | 0 | [1] | 0 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | |||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | |||
Consumer and other | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 0 | [1] | ' | 535 | [1] | |
Recorded Investment, With no related allowance | 1,477 | [1] | ' | 767 | [1] | |
Allowance on Impaired Loans | 0 | ' | 32 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 0 | ' | 535 | |||
Unpaid Contractual Principal Balance, With no related allowance | 1,548 | ' | 831 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 268 | [1] | 55 | [1] | 348 | [1] |
Average Recorded Investment, With no related allowance | 1,123 | [1] | 1,273 | [1] | 1,067 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 0 | 1 | 23 | |||
Interest Income Recognized during Impairment, With no related allowance | 8 | 5 | 0 | |||
Consumer and other | Acquired | ' | ' | ' | |||
Impaired Loans, Recorded Investment | ' | ' | ' | |||
Recorded Investment, With related allowance | 0 | [1] | ' | 0 | [1] | |
Recorded Investment, With no related allowance | 952 | [1] | ' | 767 | [1] | |
Allowance on Impaired Loans | 0 | ' | 0 | |||
Impaired Loans, Unpaid Principal Balance | ' | ' | ' | |||
Unpaid Contractual Principal Balance, With related allowance | 0 | ' | 0 | |||
Unpaid Contractual Principal Balance, With no related allowance | 1,023 | ' | 831 | |||
Impaired Loans, Average Recorded Investment | ' | ' | ' | |||
Average Recorded Investment, With related allowance | 0 | [1] | 0 | [1] | 0 | [1] |
Average Recorded Investment, With no related allowance | 860 | [1] | 793 | [1] | 779 | [1] |
Impaired Loans, Interest Income Recognized during Impairment | ' | ' | ' | |||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | |||
Interest Income Recognized during Impairment, With no related allowance | $2 | $0 | $0 | |||
[1] | Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. |
Loans_Receivable_and_Allowance6
Loans Receivable and Allowance for Loan Losses - Past Due Financing Receivables (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | $6,615,000 | $7,322,000 | ||
60 - 89 Days Past Due | 448,000 | 2,772,000 | ||
Greater than 90 Days Past Due | 0 | 5,000 | ||
Total Past Due | 7,063,000 | 10,099,000 | ||
Non-accrual loans | 47,314,000 | [1] | 39,154,000 | [2] |
Total Delinquent loans | 54,377,000 | 49,253,000 | ||
Guaranteed portion of delinquent SBA loans excluded from Nonaccrual loans | 31,300,000 | 27,500,000 | ||
Legacy | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 1,701,000 | 2,209,000 | ||
60 - 89 Days Past Due | 445,000 | 266,000 | ||
Greater than 90 Days Past Due | 0 | 0 | ||
Total Past Due | 2,146,000 | 2,475,000 | ||
Non-accrual loans | 23,663,000 | [1] | 18,440,000 | [2] |
Total Delinquent loans | 25,809,000 | 20,915,000 | ||
Legacy | Real estate | Residential | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 0 | 0 | ||
60 - 89 Days Past Due | 0 | 0 | ||
Greater than 90 Days Past Due | 0 | 0 | ||
Total Past Due | 0 | 0 | ||
Non-accrual loans | 0 | [1] | 0 | [2] |
Total Delinquent loans | 0 | 0 | ||
Legacy | Real estate | Commercial | Retail | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 48,000 | 122,000 | ||
60 - 89 Days Past Due | 121,000 | 0 | ||
Greater than 90 Days Past Due | 0 | 0 | ||
Total Past Due | 169,000 | 122,000 | ||
Non-accrual loans | 4,470,000 | [1] | 4,363,000 | [2] |
Total Delinquent loans | 4,639,000 | 4,485,000 | ||
Legacy | Real estate | Commercial | Hotel & motel | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 365,000 | 0 | ||
60 - 89 Days Past Due | 0 | 0 | ||
Greater than 90 Days Past Due | 0 | 0 | ||
Total Past Due | 365,000 | 0 | ||
Non-accrual loans | 121,000 | [1] | 121,000 | [2] |
Total Delinquent loans | 486,000 | 121,000 | ||
Legacy | Real estate | Commercial | Gas station & car wash | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 0 | 1,038,000 | ||
60 - 89 Days Past Due | 0 | 0 | ||
Greater than 90 Days Past Due | 0 | 0 | ||
Total Past Due | 0 | 1,038,000 | ||
Non-accrual loans | 4,117,000 | [1] | 2,228,000 | [2] |
Total Delinquent loans | 4,117,000 | 3,266,000 | ||
Legacy | Real estate | Commercial | Mixed use | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 0 | 0 | ||
60 - 89 Days Past Due | 0 | 0 | ||
Greater than 90 Days Past Due | 0 | 0 | ||
Total Past Due | 0 | 0 | ||
Non-accrual loans | 968,000 | [1] | 974,000 | [2] |
Total Delinquent loans | 968,000 | 974,000 | ||
Legacy | Real estate | Commercial | Industrial & warehouse | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 0 | 215,000 | ||
60 - 89 Days Past Due | 214,000 | 0 | ||
Greater than 90 Days Past Due | 0 | 0 | ||
Total Past Due | 214,000 | 215,000 | ||
Non-accrual loans | 3,110,000 | [1] | 1,923,000 | [2] |
Total Delinquent loans | 3,324,000 | 2,138,000 | ||
Legacy | Real estate | Commercial | Other | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 13,000 | 0 | ||
60 - 89 Days Past Due | 0 | 0 | ||
Greater than 90 Days Past Due | 0 | 0 | ||
Total Past Due | 13,000 | 0 | ||
Non-accrual loans | 906,000 | [1] | 1,398,000 | [2] |
Total Delinquent loans | 919,000 | 1,398,000 | ||
Legacy | Real estate | Construction | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 0 | 0 | ||
60 - 89 Days Past Due | 0 | 0 | ||
Greater than 90 Days Past Due | 0 | 0 | ||
Total Past Due | 0 | 0 | ||
Non-accrual loans | 0 | [1] | 0 | [2] |
Total Delinquent loans | 0 | 0 | ||
Legacy | Commercial business | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 1,228,000 | 780,000 | ||
60 - 89 Days Past Due | 78,000 | 244,000 | ||
Greater than 90 Days Past Due | 0 | 0 | ||
Total Past Due | 1,306,000 | 1,024,000 | ||
Non-accrual loans | 8,691,000 | [1] | 6,402,000 | [2] |
Total Delinquent loans | 9,997,000 | 7,426,000 | ||
Legacy | Trade finance | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 0 | 0 | ||
60 - 89 Days Past Due | 32,000 | 0 | ||
Greater than 90 Days Past Due | 0 | 0 | ||
Total Past Due | 32,000 | 0 | ||
Non-accrual loans | 1,263,000 | [1] | 1,031,000 | [2] |
Total Delinquent loans | 1,295,000 | 1,031,000 | ||
Legacy | Consumer and other | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 47,000 | 54,000 | ||
60 - 89 Days Past Due | 0 | 22,000 | ||
Greater than 90 Days Past Due | 0 | 0 | ||
Total Past Due | 47,000 | 76,000 | ||
Non-accrual loans | 17,000 | [1] | 0 | [2] |
Total Delinquent loans | 64,000 | 76,000 | ||
Acquired | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 4,914,000 | [3] | 5,113,000 | [3] |
60 - 89 Days Past Due | 3,000 | [3] | 2,506,000 | [3] |
Greater than 90 Days Past Due | 0 | [3] | 5,000 | [3] |
Total Past Due | 4,917,000 | [3] | 7,624,000 | [3] |
Non-accrual loans | 23,651,000 | [1],[3] | 20,714,000 | [2],[3] |
Total Delinquent loans | 28,568,000 | [3] | 28,338,000 | [3] |
Acquired | Real estate | Residential | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 0 | [3] | 0 | [3] |
60 - 89 Days Past Due | 0 | [3] | 0 | [3] |
Greater than 90 Days Past Due | 0 | [3] | 0 | [3] |
Total Past Due | 0 | [3] | 0 | [3] |
Non-accrual loans | 0 | [1],[3] | 0 | [3] |
Total Delinquent loans | 0 | [3] | 0 | [3] |
Acquired | Real estate | Commercial | Retail | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 597,000 | [3] | 2,024,000 | [3] |
60 - 89 Days Past Due | 0 | [3] | 0 | [3] |
Greater than 90 Days Past Due | 0 | [3] | 0 | [3] |
Total Past Due | 597,000 | [3] | 2,024,000 | [3] |
Non-accrual loans | 1,336,000 | [1],[3] | 1,030,000 | [3] |
Total Delinquent loans | 1,933,000 | [3] | 3,054,000 | [3] |
Acquired | Real estate | Commercial | Hotel & motel | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 0 | [3] | 0 | [3] |
60 - 89 Days Past Due | 0 | [3] | 0 | [3] |
Greater than 90 Days Past Due | 0 | [3] | 0 | [3] |
Total Past Due | 0 | [3] | 0 | [3] |
Non-accrual loans | 6,378,000 | [1],[3] | 6,441,000 | [3] |
Total Delinquent loans | 6,378,000 | [3] | 6,441,000 | [3] |
Acquired | Real estate | Commercial | Gas station & car wash | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 1,061,000 | [3] | 1,068,000 | [3] |
60 - 89 Days Past Due | 0 | [3] | 0 | [3] |
Greater than 90 Days Past Due | 0 | [3] | 0 | [3] |
Total Past Due | 1,061,000 | [3] | 1,068,000 | [3] |
Non-accrual loans | 2,253,000 | [1],[3] | 1,339,000 | [3] |
Total Delinquent loans | 3,314,000 | [3] | 2,407,000 | [3] |
Acquired | Real estate | Commercial | Mixed use | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 577,000 | [3] | 576,000 | [3] |
60 - 89 Days Past Due | 0 | [3] | 0 | [3] |
Greater than 90 Days Past Due | 0 | [3] | 0 | [3] |
Total Past Due | 577,000 | [3] | 576,000 | [3] |
Non-accrual loans | 465,000 | [1],[3] | 0 | [3] |
Total Delinquent loans | 1,042,000 | [3] | 576,000 | [3] |
Acquired | Real estate | Commercial | Industrial & warehouse | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 0 | [3] | 121,000 | [3] |
60 - 89 Days Past Due | 0 | [3] | 0 | [3] |
Greater than 90 Days Past Due | 0 | [3] | 0 | [3] |
Total Past Due | 0 | [3] | 121,000 | [3] |
Non-accrual loans | 6,424,000 | [1],[3] | 6,890,000 | [3] |
Total Delinquent loans | 6,424,000 | [3] | 7,011,000 | [3] |
Acquired | Real estate | Commercial | Other | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 1,800,000 | [3] | 516,000 | [3] |
60 - 89 Days Past Due | 0 | [3] | 1,729,000 | [3] |
Greater than 90 Days Past Due | 0 | [3] | 0 | [3] |
Total Past Due | 1,800,000 | [3] | 2,245,000 | [3] |
Non-accrual loans | 3,522,000 | [1],[3] | 1,376,000 | [3] |
Total Delinquent loans | 5,322,000 | [3] | 3,621,000 | [3] |
Acquired | Real estate | Construction | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 0 | [3] | 0 | [3] |
60 - 89 Days Past Due | 0 | [3] | 0 | [3] |
Greater than 90 Days Past Due | 0 | [3] | 0 | [3] |
Total Past Due | 0 | [3] | 0 | [3] |
Non-accrual loans | ' | [1],[3] | 0 | [3] |
Total Delinquent loans | 0 | [3] | 0 | [3] |
Acquired | Commercial business | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 594,000 | [3] | 524,000 | [3] |
60 - 89 Days Past Due | 3,000 | [3] | 703,000 | [3] |
Greater than 90 Days Past Due | 0 | [3] | 5,000 | [3] |
Total Past Due | 597,000 | [3] | 1,232,000 | [3] |
Non-accrual loans | 2,262,000 | [1],[3] | 2,708,000 | [3] |
Total Delinquent loans | 2,859,000 | [3] | 3,940,000 | [3] |
Acquired | Trade finance | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 0 | [3] | 0 | [3] |
60 - 89 Days Past Due | 0 | [3] | 0 | [3] |
Greater than 90 Days Past Due | 0 | [3] | 0 | [3] |
Total Past Due | 0 | [3] | 0 | [3] |
Non-accrual loans | 0 | [1],[3] | 0 | [3] |
Total Delinquent loans | 0 | [3] | 0 | [3] |
Acquired | Consumer and other | ' | ' | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ||
30 - 59 Days Past Due | 285,000 | [3] | 284,000 | [3] |
60 - 89 Days Past Due | 0 | [3] | 74,000 | [3] |
Greater than 90 Days Past Due | 0 | [3] | 0 | [3] |
Total Past Due | 285,000 | [3] | 358,000 | [3] |
Non-accrual loans | 1,011,000 | [1],[3] | 930,000 | [3] |
Total Delinquent loans | $1,296,000 | [3] | $1,288,000 | [3] |
[1] | Nonaccrual loans exclude the guaranteed portion of delinquent SBA loans that are in liquidation totaling $31.3 million. | |||
[2] | Nonaccrual loans exclude guaranteed portion of delinquent SBA loans that are in liquidation totaling $27.5 million. | |||
[3] | The Acquired Loans exclude ACILs. |
Loans_Receivable_and_Allowance7
Loans Receivable and Allowance for Loan Losses - Financing Receivable Credit Quality Indicators (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | $5,192,557 | $5,076,343 |
Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 4,845,660 | 4,720,493 |
Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 93,554 | 89,489 |
Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 246,189 | 258,500 |
Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 7,154 | 7,861 |
Real estate | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 4,034,998 | 3,904,058 |
Real estate | Residential | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 11,035 | 10,039 |
Real estate | Commercial | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 3,947,925 | 3,821,163 |
Real estate | Construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 76,038 | 72,856 |
Commercial business | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 923,026 | 949,093 |
Trade finance | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 135,638 | 124,685 |
Consumer and other | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 98,895 | 98,507 |
Legacy | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 4,284,773 | 4,097,662 |
Legacy | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 4,117,753 | 3,930,660 |
Legacy | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 52,159 | 46,480 |
Legacy | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 111,529 | 120,163 |
Legacy | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 3,332 | 359 |
Legacy | Real estate | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 3,308,645 | 3,126,101 |
Legacy | Real estate | Residential | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 9,004 | 8,070 |
Legacy | Real estate | Residential | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 9,004 | 8,070 |
Legacy | Real estate | Residential | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Legacy | Real estate | Residential | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Legacy | Real estate | Residential | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Legacy | Real estate | Commercial | Retail | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 904,411 | 858,038 |
Legacy | Real estate | Commercial | Retail | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 888,454 | 842,815 |
Legacy | Real estate | Commercial | Retail | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 2,395 | 858 |
Legacy | Real estate | Commercial | Retail | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 13,562 | 14,365 |
Legacy | Real estate | Commercial | Retail | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Legacy | Real estate | Commercial | Hotel & motel | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 600,318 | 583,765 |
Legacy | Real estate | Commercial | Hotel & motel | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 592,932 | 568,263 |
Legacy | Real estate | Commercial | Hotel & motel | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 117 | 1,841 |
Legacy | Real estate | Commercial | Hotel & motel | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 7,269 | 13,661 |
Legacy | Real estate | Commercial | Hotel & motel | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Legacy | Real estate | Commercial | Gas station & car wash | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 486,122 | 466,059 |
Legacy | Real estate | Commercial | Gas station & car wash | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 475,483 | 455,205 |
Legacy | Real estate | Commercial | Gas station & car wash | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Legacy | Real estate | Commercial | Gas station & car wash | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 10,639 | 10,854 |
Legacy | Real estate | Commercial | Gas station & car wash | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Legacy | Real estate | Commercial | Mixed use | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 284,803 | 263,472 |
Legacy | Real estate | Commercial | Mixed use | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 281,152 | 259,788 |
Legacy | Real estate | Commercial | Mixed use | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 358 | 360 |
Legacy | Real estate | Commercial | Mixed use | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 3,293 | 3,324 |
Legacy | Real estate | Commercial | Mixed use | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Legacy | Real estate | Commercial | Industrial & warehouse | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 304,485 | 268,165 |
Legacy | Real estate | Commercial | Industrial & warehouse | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 285,848 | 251,993 |
Legacy | Real estate | Commercial | Industrial & warehouse | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 5,364 | 4,116 |
Legacy | Real estate | Commercial | Industrial & warehouse | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 13,273 | 12,056 |
Legacy | Real estate | Commercial | Industrial & warehouse | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Legacy | Real estate | Commercial | Other | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 643,464 | 605,675 |
Legacy | Real estate | Commercial | Other | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 624,042 | 589,895 |
Legacy | Real estate | Commercial | Other | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 7,904 | 3,928 |
Legacy | Real estate | Commercial | Other | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 11,159 | 11,493 |
Legacy | Real estate | Commercial | Other | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 359 | 359 |
Legacy | Real estate | Construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 76,038 | 72,857 |
Legacy | Real estate | Construction | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 74,433 | 71,231 |
Legacy | Real estate | Construction | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Legacy | Real estate | Construction | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 1,605 | 1,626 |
Legacy | Real estate | Construction | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Legacy | Commercial business | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 806,864 | 815,664 |
Legacy | Commercial business | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 751,270 | 759,956 |
Legacy | Commercial business | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 12,701 | 12,756 |
Legacy | Commercial business | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 39,920 | 42,952 |
Legacy | Commercial business | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 2,973 | 0 |
Legacy | Trade finance | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 132,627 | 122,941 |
Legacy | Trade finance | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 99,049 | 91,055 |
Legacy | Trade finance | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 23,311 | 22,589 |
Legacy | Trade finance | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 10,267 | 9,297 |
Legacy | Trade finance | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Legacy | Consumer and other | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 36,637 | 32,956 |
Legacy | Consumer and other | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 36,086 | 32,389 |
Legacy | Consumer and other | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 9 | 32 |
Legacy | Consumer and other | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 542 | 535 |
Legacy | Consumer and other | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Acquired | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 907,784 | 978,681 |
Acquired | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 727,907 | 789,833 |
Acquired | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 41,395 | 43,009 |
Acquired | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 134,660 | 138,337 |
Acquired | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 3,822 | 7,502 |
Acquired | Real estate | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 726,353 | 777,957 |
Acquired | Real estate | Residential | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 2,031 | 1,969 |
Acquired | Real estate | Residential | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 1,081 | 1,066 |
Acquired | Real estate | Residential | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 578 | 284 |
Acquired | Real estate | Residential | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 372 | 619 |
Acquired | Real estate | Residential | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Acquired | Real estate | Commercial | Retail | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 256,078 | 274,866 |
Acquired | Real estate | Commercial | Retail | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 218,682 | 237,325 |
Acquired | Real estate | Commercial | Retail | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 9,040 | 9,319 |
Acquired | Real estate | Commercial | Retail | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 28,113 | 28,128 |
Acquired | Real estate | Commercial | Retail | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 243 | 94 |
Acquired | Real estate | Commercial | Hotel & motel | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 127,020 | 131,287 |
Acquired | Real estate | Commercial | Hotel & motel | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 105,736 | 109,138 |
Acquired | Real estate | Commercial | Hotel & motel | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 7,143 | 7,134 |
Acquired | Real estate | Commercial | Hotel & motel | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 14,141 | 14,836 |
Acquired | Real estate | Commercial | Hotel & motel | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 179 |
Acquired | Real estate | Commercial | Gas station & car wash | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 45,852 | 51,662 |
Acquired | Real estate | Commercial | Gas station & car wash | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 29,352 | 35,356 |
Acquired | Real estate | Commercial | Gas station & car wash | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 1,634 | 1,621 |
Acquired | Real estate | Commercial | Gas station & car wash | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 14,616 | 14,440 |
Acquired | Real estate | Commercial | Gas station & car wash | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 250 | 245 |
Acquired | Real estate | Commercial | Mixed use | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 37,988 | 39,775 |
Acquired | Real estate | Commercial | Mixed use | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 31,302 | 32,992 |
Acquired | Real estate | Commercial | Mixed use | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 1,418 | 1,467 |
Acquired | Real estate | Commercial | Mixed use | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 5,268 | 5,316 |
Acquired | Real estate | Commercial | Mixed use | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Acquired | Real estate | Commercial | Industrial & warehouse | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 111,150 | 115,815 |
Acquired | Real estate | Commercial | Industrial & warehouse | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 87,748 | 92,570 |
Acquired | Real estate | Commercial | Industrial & warehouse | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 4,195 | 3,525 |
Acquired | Real estate | Commercial | Industrial & warehouse | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 19,207 | 19,720 |
Acquired | Real estate | Commercial | Industrial & warehouse | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Acquired | Real estate | Commercial | Other | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 146,234 | 162,583 |
Acquired | Real estate | Commercial | Other | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 122,472 | 133,752 |
Acquired | Real estate | Commercial | Other | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 6,376 | 6,698 |
Acquired | Real estate | Commercial | Other | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 16,814 | 21,573 |
Acquired | Real estate | Commercial | Other | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 572 | 560 |
Acquired | Real estate | Construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Acquired | Real estate | Construction | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Acquired | Real estate | Construction | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Acquired | Real estate | Construction | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Acquired | Real estate | Construction | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Acquired | Commercial business | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 116,162 | 133,429 |
Acquired | Commercial business | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 80,706 | 94,854 |
Acquired | Commercial business | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 8,810 | 10,266 |
Acquired | Commercial business | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 24,364 | 26,245 |
Acquired | Commercial business | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 2,282 | 2,064 |
Acquired | Trade finance | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 3,011 | 1,744 |
Acquired | Trade finance | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 3,011 | 1,744 |
Acquired | Trade finance | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Acquired | Trade finance | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Acquired | Trade finance | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 0 | 0 |
Acquired | Consumer and other | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 62,258 | 65,551 |
Acquired | Consumer and other | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 47,817 | 51,036 |
Acquired | Consumer and other | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 2,201 | 2,695 |
Acquired | Consumer and other | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 11,765 | 7,460 |
Acquired | Consumer and other | Doubtful or Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | $475 | $4,360 |
Loans_Receivable_and_Allowance8
Loans Receivable and Allowance for Loan Losses - Allowance for Loans, by Portfolio Segment and Impairment Method (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Positive or Negative Qualitative Adjustment of the Loss Migration Ratio or Individual Specific Reserve Allocations, In Basis Points | 0.50% | ' | ' | ' |
Loans by Portfolio Segment and Impairment Method [Abstract] | ' | ' | ' | ' |
Impaired loans (Gross carrying value) | $121,834 | $116,269 | ' | ' |
Specific allowance | -10,194 | -12,666 | ' | ' |
Loss coverage ratio | 8.40% | 10.90% | ' | ' |
Non-impaired loans | 5,070,723 | 4,960,074 | ' | ' |
General allowance | 55,505 | 54,654 | ' | ' |
Loss coverage ratio | 1.10% | 1.10% | ' | ' |
Total loans outstanding | 5,192,557 | 5,076,343 | ' | ' |
Allowance for loan losses - Total | 65,699 | 67,320 | 73,268 | 66,941 |
Loss coverage ratio | 1.30% | 1.30% | ' | ' |
Real estate | ' | ' | ' | ' |
Loans by Portfolio Segment and Impairment Method [Abstract] | ' | ' | ' | ' |
Total loans outstanding | 4,034,998 | 3,904,058 | ' | ' |
Real estate | Residential | ' | ' | ' | ' |
Loans by Portfolio Segment and Impairment Method [Abstract] | ' | ' | ' | ' |
Impaired loans (Gross carrying value) | 0 | 0 | ' | ' |
Specific allowance | 0 | 0 | ' | ' |
Loss coverage ratio | 0.00% | 0.00% | ' | ' |
Non-impaired loans | 11,035 | 10,039 | ' | ' |
General allowance | 25 | 25 | ' | ' |
Loss coverage ratio | 0.20% | 0.20% | ' | ' |
Total loans outstanding | 11,035 | 10,039 | ' | ' |
Allowance for loan losses - Total | 25 | 25 | ' | ' |
Loss coverage ratio | 0.20% | 0.20% | ' | ' |
Real estate | Commercial | ' | ' | ' | ' |
Loans by Portfolio Segment and Impairment Method [Abstract] | ' | ' | ' | ' |
Impaired loans (Gross carrying value) | 72,350 | 67,544 | ' | ' |
Specific allowance | -4,803 | -6,670 | ' | ' |
Loss coverage ratio | 6.60% | 9.90% | ' | ' |
Non-impaired loans | 3,875,575 | 3,753,619 | ' | ' |
General allowance | 40,030 | 39,227 | ' | ' |
Loss coverage ratio | 1.00% | 1.00% | ' | ' |
Total loans outstanding | 3,947,925 | 3,821,163 | ' | ' |
Allowance for loan losses - Total | 44,833 | 45,897 | ' | ' |
Loss coverage ratio | 1.10% | 1.20% | ' | ' |
Real estate | Construction | ' | ' | ' | ' |
Loans by Portfolio Segment and Impairment Method [Abstract] | ' | ' | ' | ' |
Impaired loans (Gross carrying value) | 1,605 | 1,625 | ' | ' |
Specific allowance | 0 | 0 | ' | ' |
Loss coverage ratio | 0.00% | 0.00% | ' | ' |
Non-impaired loans | 74,433 | 71,231 | ' | ' |
General allowance | 566 | 628 | ' | ' |
Loss coverage ratio | 0.80% | 0.90% | ' | ' |
Total loans outstanding | 76,038 | 72,856 | ' | ' |
Allowance for loan losses - Total | 566 | 628 | ' | ' |
Loss coverage ratio | 0.70% | 0.90% | ' | ' |
Commercial business | ' | ' | ' | ' |
Loans by Portfolio Segment and Impairment Method [Abstract] | ' | ' | ' | ' |
Impaired loans (Gross carrying value) | 40,139 | 40,106 | ' | ' |
Specific allowance | -4,630 | -5,805 | ' | ' |
Loss coverage ratio | 11.50% | 14.50% | ' | ' |
Non-impaired loans | 882,887 | 908,987 | ' | ' |
General allowance | 12,171 | 11,787 | ' | ' |
Loss coverage ratio | 1.40% | 1.30% | ' | ' |
Total loans outstanding | 923,026 | 949,093 | ' | ' |
Allowance for loan losses - Total | 16,801 | 17,592 | ' | ' |
Loss coverage ratio | 1.80% | 1.90% | ' | ' |
Trade finance | ' | ' | ' | ' |
Loans by Portfolio Segment and Impairment Method [Abstract] | ' | ' | ' | ' |
Impaired loans (Gross carrying value) | 6,263 | 5,692 | ' | ' |
Specific allowance | -761 | -159 | ' | ' |
Loss coverage ratio | 12.20% | 2.80% | ' | ' |
Non-impaired loans | 129,375 | 118,993 | ' | ' |
General allowance | 2,183 | 2,494 | ' | ' |
Loss coverage ratio | 1.70% | 2.10% | ' | ' |
Total loans outstanding | 135,638 | 124,685 | ' | ' |
Allowance for loan losses - Total | 2,944 | 2,653 | ' | ' |
Loss coverage ratio | 2.20% | 2.10% | ' | ' |
Consumer and other | ' | ' | ' | ' |
Loans by Portfolio Segment and Impairment Method [Abstract] | ' | ' | ' | ' |
Impaired loans (Gross carrying value) | 1,477 | 1,302 | ' | ' |
Specific allowance | 0 | -32 | ' | ' |
Loss coverage ratio | 0.00% | 2.50% | ' | ' |
Non-impaired loans | 97,418 | 97,205 | ' | ' |
General allowance | 530 | 493 | ' | ' |
Loss coverage ratio | 0.50% | 0.50% | ' | ' |
Total loans outstanding | 98,895 | 98,507 | ' | ' |
Allowance for loan losses - Total | $530 | $525 | ' | ' |
Loss coverage ratio | 0.50% | 0.50% | ' | ' |
Loans_Receivable_and_Allowance9
Loans Receivable and Allowance for Loan Losses - Troubled Debt Restructurings on Financing Receivables (Details) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2014 | Dec. 31, 2013 | |
loan | loan | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | $63,815,000 | $58,904,000 |
Number of modified contracts | 14 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 7,085,000 | ' |
Post-Modification | 7,402,000 | ' |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ' | ' |
Number of Loans | 6 | ' |
Balance | 848,000 | ' |
Specific reserves | 535,000 | ' |
Specific reserves for the TDRs | 45,000 | ' |
Charge offs | 480,000 | ' |
Specific reserves allocated to TDRs | 4,400,000 | 6,600,000 |
Troubled debt restructuring , charge offs | 18,000 | ' |
Payment concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 20,922,000 | 20,029,000 |
Maturity / Amortization concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 17,739,000 | 13,174,000 |
Rate concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 25,108,000 | 25,652,000 |
Principal forgiveness | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 46,000 | 49,000 |
TDR on accrual | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 37,527,000 | 33,904,000 |
TDR on accrual | Payment concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 8,706,000 | 8,494,000 |
TDR on accrual | Maturity / Amortization concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 11,970,000 | 7,865,000 |
TDR on accrual | Rate concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 16,851,000 | 17,545,000 |
TDR on accrual | Principal forgiveness | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 0 | 0 |
TDR on non-accrual | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 26,288,000 | 25,000,000 |
TDR on non-accrual | Payment concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 12,216,000 | 11,535,000 |
TDR on non-accrual | Maturity / Amortization concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 5,769,000 | 5,309,000 |
TDR on non-accrual | Rate concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 8,257,000 | 8,107,000 |
TDR on non-accrual | Principal forgiveness | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 46,000 | 49,000 |
Commercial | TDR on accrual | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | ' | 21,257,000 |
Number of modified contracts | 17 | 15 |
Real estate | Commercial | TDR on accrual | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 22,180,000 | 21,257,000 |
Real estate | Commercial | TDR on accrual | Payment concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 7,896,000 | 7,437,000 |
Real estate | Commercial | TDR on accrual | Maturity / Amortization concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 1,811,000 | 765,000 |
Real estate | Commercial | TDR on accrual | Rate concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 12,473,000 | 13,055,000 |
Real estate | Commercial | TDR on accrual | Principal forgiveness | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 0 | 0 |
Real estate | Commercial | TDR on non-accrual | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 19,621,000 | 19,249,000 |
Real estate | Commercial | TDR on non-accrual | Payment concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 9,010,000 | 9,489,000 |
Real estate | Commercial | TDR on non-accrual | Maturity / Amortization concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 2,382,000 | 1,653,000 |
Real estate | Commercial | TDR on non-accrual | Rate concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 8,229,000 | 8,107,000 |
Real estate | Commercial | TDR on non-accrual | Principal forgiveness | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 0 | 0 |
Commercial business | TDR on accrual | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 14,630,000 | 12,112,000 |
Number of modified contracts | 28 | 28 |
Commercial business | TDR on accrual | Payment concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 810,000 | 1,057,000 |
Commercial business | TDR on accrual | Maturity / Amortization concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 9,442,000 | 6,565,000 |
Commercial business | TDR on accrual | Rate concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 4,378,000 | 4,490,000 |
Commercial business | TDR on accrual | Principal forgiveness | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 0 | 0 |
Commercial business | TDR on non-accrual | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 4,643,000 | 4,984,000 |
Commercial business | TDR on non-accrual | Payment concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 2,445,000 | 1,279,000 |
Commercial business | TDR on non-accrual | Maturity / Amortization concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 2,124,000 | 3,656,000 |
Commercial business | TDR on non-accrual | Rate concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 28,000 | 0 |
Commercial business | TDR on non-accrual | Principal forgiveness | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 46,000 | 49,000 |
Trade Finance and Other | TDR on accrual | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 717,000 | 535,000 |
Trade Finance and Other | TDR on accrual | Payment concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 0 | 0 |
Trade Finance and Other | TDR on accrual | Maturity / Amortization concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 717,000 | 535,000 |
Trade Finance and Other | TDR on accrual | Rate concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 0 | 0 |
Trade Finance and Other | TDR on accrual | Principal forgiveness | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 0 | 0 |
Trade Finance and Other | TDR on non-accrual | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 2,024,000 | 767,000 |
Trade Finance and Other | TDR on non-accrual | Payment concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 761,000 | 767,000 |
Trade Finance and Other | TDR on non-accrual | Maturity / Amortization concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 1,263,000 | 0 |
Trade Finance and Other | TDR on non-accrual | Rate concession | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 0 | 0 |
Trade Finance and Other | TDR on non-accrual | Principal forgiveness | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 0 | 0 |
Consumer and other | TDR on accrual | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructured | 718,000 | 535,000 |
Number of modified contracts | 3 | 2 |
Legacy | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 4 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 1,514,000 | ' |
Post-Modification | 1,331,000 | ' |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ' | ' |
Number of Loans | 2 | ' |
Balance | 536,000 | ' |
Legacy | Real estate | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 0 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 0 | ' |
Post-Modification | 0 | ' |
Legacy | Real estate | Retail | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 0 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 0 | ' |
Post-Modification | 0 | ' |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ' | ' |
Number of Loans | 0 | ' |
Balance | 0 | ' |
Legacy | Real estate | Hotel & motel | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 0 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 0 | ' |
Post-Modification | 0 | ' |
Legacy | Real estate | Gas station & car wash | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 0 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 0 | ' |
Post-Modification | 0 | ' |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ' | ' |
Number of Loans | 0 | ' |
Balance | 0 | ' |
Legacy | Real estate | Mixed use | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 0 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 0 | ' |
Post-Modification | 0 | ' |
Legacy | Real estate | Industrial & warehouse | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 0 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 0 | ' |
Post-Modification | 0 | ' |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ' | ' |
Number of Loans | 0 | ' |
Balance | 0 | ' |
Legacy | Real estate | Other | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 1 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 1,023,000 | ' |
Post-Modification | 1,018,000 | ' |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ' | ' |
Number of Loans | 0 | ' |
Balance | 0 | ' |
Legacy | Commercial business | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 2 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 296,000 | ' |
Post-Modification | 121,000 | ' |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ' | ' |
Number of Loans | 2 | ' |
Balance | 536,000 | ' |
Legacy | Commercial business | Maturity / Amortization concession | ' | ' |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ' | ' |
Balance | 536,000 | ' |
Legacy | Trade finance | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 0 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 0 | ' |
Post-Modification | 0 | ' |
Legacy | Consumer and other | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 1 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 195,000 | ' |
Post-Modification | 192,000 | ' |
Acquired | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 10 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 5,571,000 | ' |
Post-Modification | 6,071,000 | ' |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ' | ' |
Number of Loans | 4 | ' |
Balance | 312,000 | ' |
Acquired | Real estate | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 0 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 0 | ' |
Post-Modification | 0 | ' |
Acquired | Real estate | Retail | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 0 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 0 | ' |
Post-Modification | 0 | ' |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ' | ' |
Number of Loans | 2 | ' |
Balance | 268,000 | ' |
Acquired | Real estate | Hotel & motel | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 0 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 0 | ' |
Post-Modification | 0 | ' |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ' | ' |
Number of Loans | 0 | ' |
Balance | 0 | ' |
Acquired | Real estate | Gas station & car wash | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 0 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 0 | ' |
Post-Modification | 0 | ' |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ' | ' |
Number of Loans | 0 | ' |
Balance | 0 | ' |
Acquired | Real estate | Mixed use | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 0 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 0 | ' |
Post-Modification | 0 | ' |
Acquired | Real estate | Industrial & warehouse | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 1 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 756,000 | ' |
Post-Modification | 812,000 | ' |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ' | ' |
Number of Loans | 0 | ' |
Balance | 0 | ' |
Acquired | Real estate | Other | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 1 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 240,000 | ' |
Post-Modification | 240,000 | ' |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ' | ' |
Number of Loans | 0 | ' |
Balance | 0 | ' |
Acquired | Real estate | Commercial | Payment concession | ' | ' |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ' | ' |
Number of Loans | 2 | ' |
Balance | 268,000 | ' |
Acquired | Commercial business | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 7 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 4,483,000 | ' |
Post-Modification | 4,639,000 | ' |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ' | ' |
Number of Loans | 2 | ' |
Balance | 44,000 | ' |
Acquired | Commercial business | Payment concession | ' | ' |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ' | ' |
Number of Loans | 2 | ' |
Balance | 44,000 | ' |
Acquired | Trade finance | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of modified contracts | 1 | ' |
Troubled Debt Restructuring, By Loan Class | ' | ' |
Pre-Modification | 92,000 | ' |
Post-Modification | $380,000 | ' |
Recovered_Sheet1
Loans Receivable and Allowance for Loan Losses - Covered Loans (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Covered Nonperforming Assets | ' | ' |
Covered loans on non-accrual status | $1,400 | $236 |
Covered other real estate owned | 590 | 590 |
Total covered nonperforming assets | 1,990 | 826 |
Acquired covered loans | $54,229 | $55,088 |
Recovered_Sheet2
Loans Receivable and Allowance for Loan Losses - Additional Information (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Receivables [Abstract] | ' | ' | ' |
Loans receivable, net | $5,125,095,000 | ' | $5,006,856,000 |
Recognized provision for credit losses related to unfunded commitments | 41,000 | 0 | ' |
Positive or Negative Qualitative Adjustment of the Loss Migration Ratio or Individual Specific Reserve Allocations, In Basis Points | 0.50% | ' | ' |
Due from Related Parties | 5,000,000 | ' | 3,900,000 |
Commitment to lend | $926,000 | ' | $885,000 |
Borrowings_Maturities_of_FHLB_
Borrowings - Maturities of FHLB Borrowings (Details) (USD $) | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |
Contractual Maturities | ' |
Extinguishment of Debt [Line Items] | ' |
Due within one year | $30,000 |
Due after one year through five years | 391,260 |
Total | 421,260 |
Maturity/Put Date | ' |
Extinguishment of Debt [Line Items] | ' |
Due within one year | 51,260 |
Due after one year through five years | 370,000 |
Total | $421,260 |
Borrowings_Narrative_Details
Borrowings - Narrative (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Debt Instrument [Line Items] | ' | ' |
Percent of assets | 30.00% | ' |
Maximum borrowing capacity | $1,850,000,000 | $1,780,000,000 |
Percent outstanding advances | 100.00% | ' |
Pledged as collateral | 1,300,000 | 13,200,000 |
Borrowings | 421,260,000 | 421,352,000 |
Weighted average interest rate | 1.16% | 1.16% |
Interest rate, range minimum | 0.47% | ' |
Interest rate, range maximum | 3.81% | ' |
Unused funds | 1,440,000,000 | ' |
Percent of qualifying assets | 95.00% | ' |
Mortgage Loans on Real Estate | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Pledged as collateral | 2,440,000,000 | 2,330,000,000 |
Securities Investment | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Asset balance used to determine maximum borrowing capacity from federal reserve bank | 1,900,000 | ' |
Amount outstanding | 0 | 0 |
Qualifying Loans | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Asset balance used to determine maximum borrowing capacity from federal reserve bank | 656,300,000 | ' |
Putable | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Borrowings | $51,300,000 | $51,400,000 |
Subordinated_Debentures_Summar
Subordinated Debentures - Summary of Trust Preferred Securities and Debentures (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | |
Subordinated Borrowing [Line Items] | ' | ' | |
Subordinated Debentures Amount | $42,037,000 | $57,410,000 | |
Nara Capital Trust III | ' | ' | |
Subordinated Borrowing [Line Items] | ' | ' | |
Initial Rate | 4.44% | ' | |
Coupon Rate at March 31, 2014 | 3.38% | ' | |
Nara Statutory Trust IV | ' | ' | |
Subordinated Borrowing [Line Items] | ' | ' | |
Initial Rate | 4.02% | ' | |
Coupon Rate at March 31, 2014 | 3.09% | ' | |
Nara Statutory Trust V | ' | ' | |
Subordinated Borrowing [Line Items] | ' | ' | |
Initial Rate | 4.12% | ' | |
Coupon Rate at March 31, 2014 | 3.18% | ' | |
Nara Statutory Trust VI | ' | ' | |
Subordinated Borrowing [Line Items] | ' | ' | |
Initial Rate | 7.00% | ' | |
Coupon Rate at March 31, 2014 | 1.88% | ' | |
Center Capital Trust I | ' | ' | |
Subordinated Borrowing [Line Items] | ' | ' | |
Initial Rate | 4.01% | [1] | ' |
Coupon Rate at March 31, 2014 | 3.09% | [1] | ' |
Unamortized discount | 5,400,000 | ' | |
Effective percentage | 5.31% | ' | |
Trust Preferred Security Amount | ' | ' | |
Subordinated Borrowing [Line Items] | ' | ' | |
Trust Preferred Security Amount | 46,000,000 | ' | |
Trust Preferred Security Amount | Nara Capital Trust III | ' | ' | |
Subordinated Borrowing [Line Items] | ' | ' | |
Trust Preferred Security Amount | 5,000,000 | ' | |
Trust Preferred Security Amount | Nara Statutory Trust IV | ' | ' | |
Subordinated Borrowing [Line Items] | ' | ' | |
Trust Preferred Security Amount | 5,000,000 | ' | |
Trust Preferred Security Amount | Nara Statutory Trust V | ' | ' | |
Subordinated Borrowing [Line Items] | ' | ' | |
Trust Preferred Security Amount | 10,000,000 | ' | |
Trust Preferred Security Amount | Nara Statutory Trust VI | ' | ' | |
Subordinated Borrowing [Line Items] | ' | ' | |
Trust Preferred Security Amount | 8,000,000 | ' | |
Trust Preferred Security Amount | Center Capital Trust I | ' | ' | |
Subordinated Borrowing [Line Items] | ' | ' | |
Trust Preferred Security Amount | 18,000,000 | [1] | ' |
Subordinated Debentures Amount | ' | ' | |
Subordinated Borrowing [Line Items] | ' | ' | |
Subordinated Debentures Amount | 42,037,000 | ' | |
Subordinated Debentures Amount | Nara Capital Trust III | ' | ' | |
Subordinated Borrowing [Line Items] | ' | ' | |
Subordinated Debentures Amount | 5,155,000 | ' | |
Subordinated Debentures Amount | Nara Statutory Trust IV | ' | ' | |
Subordinated Borrowing [Line Items] | ' | ' | |
Subordinated Debentures Amount | 5,155,000 | ' | |
Subordinated Debentures Amount | Nara Statutory Trust V | ' | ' | |
Subordinated Borrowing [Line Items] | ' | ' | |
Subordinated Debentures Amount | 10,310,000 | ' | |
Subordinated Debentures Amount | Nara Statutory Trust VI | ' | ' | |
Subordinated Borrowing [Line Items] | ' | ' | |
Subordinated Debentures Amount | 8,248,000 | ' | |
Subordinated Debentures Amount | Center Capital Trust I | ' | ' | |
Subordinated Borrowing [Line Items] | ' | ' | |
Subordinated Debentures Amount | $13,169,000 | [1] | ' |
[1] | The Center Capital Trust I trust preferred security was assumed in the merger with Center Financial Corporation. The remaining discount was $5.4 million at March 31, 2014 and the effective rate of the security, including the effect of the discount accretion, was 5.31% at March 31, 2014. |
Subordinated_Debentures_Narrat
Subordinated Debentures - Narrative (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Subordinated Borrowing [Line Items] | ' | ' |
Right to defer consecutive payments of interest, maximum term | '5 years | ' |
Other assets | ' | ' |
Subordinated Borrowing [Line Items] | ' | ' |
Investment in common trust securities | $1,600,000 | $1,900,000 |
Trust Preferred Securities Subject to Mandatory Redemption | ' | ' |
Subordinated Borrowing [Line Items] | ' | ' |
Trust Preferred Security Amount | 46,000,000 | ' |
Percent included in tier one capital, maximum | 25.00% | ' |
Excess of percent threshold included in tier two capital | 25.00% | ' |
Tier one risk based capital | -40,600,000 | ' |
Maximum | Trust Preferred Securities Subject to Mandatory Redemption | ' | ' |
Subordinated Borrowing [Line Items] | ' | ' |
Tier one risk based capital | -15,000,000,000 | ' |
Nara Bancorp Grantor Trust | ' | ' |
Subordinated Borrowing [Line Items] | ' | ' |
Number of grantor trusts issuing securities | 4 | ' |
Nara Bancorp Grantor Trust | Trust Preferred Securities Subject to Mandatory Redemption | ' | ' |
Subordinated Borrowing [Line Items] | ' | ' |
Trust Preferred Security Amount | 28,000,000 | ' |
Center Financial Corporation Grantor Trust | ' | ' |
Subordinated Borrowing [Line Items] | ' | ' |
Number of grantor trusts issuing securities | 1 | ' |
Center Financial Corporation Grantor Trust | Trust Preferred Securities Subject to Mandatory Redemption | ' | ' |
Subordinated Borrowing [Line Items] | ' | ' |
Trust Preferred Security Amount | 18,000,000 | ' |
PIB Trust I | ' | ' |
Subordinated Borrowing [Line Items] | ' | ' |
Number of grantor trusts issuing securities | 1 | ' |
PIB Trust I | Trust Preferred Securities Subject to Mandatory Redemption | ' | ' |
Subordinated Borrowing [Line Items] | ' | ' |
Trust Preferred Security Amount | 15,000,000 | ' |
Foster Capital Trust I | ' | ' |
Subordinated Borrowing [Line Items] | ' | ' |
Number of grantor trusts issuing securities | 1 | ' |
Foster Capital Trust I | Trust Preferred Securities Subject to Mandatory Redemption | ' | ' |
Subordinated Borrowing [Line Items] | ' | ' |
Trust Preferred Security Amount | $15,000,000 | ' |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets - Intangible Assets (Details) (USD $) | 3 Months Ended | 3 Months Ended | 3 Months Ended | 3 Months Ended | ||||||||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Feb. 15, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Aug. 13, 2013 | Mar. 31, 2014 | Sep. 30, 2013 | |
Core Deposits | Core Deposits | Center Financial Corporation | Pacific International Bancorp, Inc. | Pacific International Bancorp, Inc. | Pacific International Bancorp, Inc. | Foster Bankshares Inc | Foster Bankshares Inc | Foster Bankshares Inc | ||||
Core Deposits | Core Deposits | Core Deposits | Core Deposits | Core Deposits | ||||||||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill impairment | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | 105,401,000 | ' | 105,401,000 | ' | ' | ' | 118,000 | ' | ' | 15,525,000 | ' | ' |
Gross Carrying Amount | 7,466,000 | ' | ' | ' | ' | 4,100,000 | ' | ' | 603,000 | ' | ' | 2,763,000 |
Amortization of Intangible Assets | ' | ' | ' | 324,000 | 228,000 | ' | ' | ' | ' | ' | ' | ' |
Amortization Period | ' | ' | ' | ' | ' | '7 years | ' | '7 years | ' | ' | '10 years | ' |
Accumulated Amortization | ($2,607,000) | ' | ' | ' | ' | ($2,145,000) | ' | ($171,000) | ' | ' | ($291,000) | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Income Tax Disclosure [Abstract] | ' | ' |
Unrecognized tax benefits | $1,300,000 | $1,300,000 |
Interest and penalties accrued | $65,000 | $58,000 |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets and Liabilities Measured at Fair Value, Recurring (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Securities available for sale, at fair value | $725,229 | $705,751 |
GSE collateralized mortgage obligations | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 279,354 | 274,101 |
GSE mortgage-backed securities | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 418,961 | 404,996 |
Trust preferred securities | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 3,800 | 3,697 |
Municipal bonds | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 6,019 | 5,936 |
Mutual funds | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 17,095 | 17,021 |
Recurring basis | Estimate of Fair Value | GSE collateralized mortgage obligations | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 279,354 | 274,101 |
Recurring basis | Estimate of Fair Value | GSE mortgage-backed securities | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 418,961 | 404,996 |
Recurring basis | Estimate of Fair Value | Trust preferred securities | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 3,800 | 3,697 |
Recurring basis | Estimate of Fair Value | Municipal bonds | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 6,019 | 5,936 |
Recurring basis | Estimate of Fair Value | Mutual funds | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 17,095 | 17,021 |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | GSE collateralized mortgage obligations | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 0 | 0 |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | GSE mortgage-backed securities | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 0 | 0 |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Trust preferred securities | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 0 | 0 |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Municipal bonds | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 0 | 0 |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mutual funds | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 17,095 | 17,021 |
Recurring basis | Significant Other Observable Inputs (Level 2) | GSE collateralized mortgage obligations | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 279,354 | 274,101 |
Recurring basis | Significant Other Observable Inputs (Level 2) | GSE mortgage-backed securities | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 418,961 | 404,996 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Trust preferred securities | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 3,800 | 3,697 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Municipal bonds | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 4,887 | 4,824 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Mutual funds | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 0 | 0 |
Recurring basis | Significant Unobservable Inputs (Level 3) | GSE collateralized mortgage obligations | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 0 | 0 |
Recurring basis | Significant Unobservable Inputs (Level 3) | GSE mortgage-backed securities | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 0 | 0 |
Recurring basis | Significant Unobservable Inputs (Level 3) | Trust preferred securities | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 0 | 0 |
Recurring basis | Significant Unobservable Inputs (Level 3) | Municipal bonds | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | 1,132 | 1,112 |
Recurring basis | Significant Unobservable Inputs (Level 3) | Mutual funds | ' | ' |
Assets: | ' | ' |
Securities available for sale, at fair value | $0 | $0 |
Fair_Value_Measurements_Rollfo
Fair Value Measurements - Rollforward of Level 3 Assets (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Amortization | $0 | $0 |
Total gains or (losses) included in earnings | 0 | 0 |
Municipal bonds | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Beginning Balance, January 1, | 1,112 | 0 |
Purchases, issuances, and settlements | 0 | 1,200 |
Total gains or (losses) included in Other Comprehensive Income | 20 | 6 |
Ending Balance, March 1, | $1,132 | $1,206 |
Fair_Value_Measurements_Assets1
Fair Value Measurements - Assets Measured at Fair Value, Non-Recurring (Details) (Non-recurring basis, USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Estimate of Fair Value | Impaired loans at fair value - Real estate loans | ' | ' |
Assets: | ' | ' |
Assets | $34,075 | $18,746 |
Estimate of Fair Value | Impaired loans at fair value - Commercial business | ' | ' |
Assets: | ' | ' |
Assets | 3,504 | 2,383 |
Estimate of Fair Value | Impaired loans at fair value - Trade finance | ' | ' |
Assets: | ' | ' |
Assets | 385 | ' |
Estimate of Fair Value | Impaired loans at fair value - Consumer | ' | ' |
Assets: | ' | ' |
Assets | 952 | ' |
Estimate of Fair Value | Loans held for sale, net | ' | ' |
Assets: | ' | ' |
Assets | 34 | 6,900 |
Estimate of Fair Value | Other real estate owned | ' | ' |
Assets: | ' | ' |
Assets | 5,039 | 4,003 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Impaired loans at fair value - Real estate loans | ' | ' |
Assets: | ' | ' |
Assets | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Impaired loans at fair value - Commercial business | ' | ' |
Assets: | ' | ' |
Assets | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Impaired loans at fair value - Trade finance | ' | ' |
Assets: | ' | ' |
Assets | 0 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Impaired loans at fair value - Consumer | ' | ' |
Assets: | ' | ' |
Assets | 0 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Loans held for sale, net | ' | ' |
Assets: | ' | ' |
Assets | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Other real estate owned | ' | ' |
Assets: | ' | ' |
Assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Impaired loans at fair value - Real estate loans | ' | ' |
Assets: | ' | ' |
Assets | 34,075 | 18,746 |
Significant Other Observable Inputs (Level 2) | Impaired loans at fair value - Commercial business | ' | ' |
Assets: | ' | ' |
Assets | 3,504 | 2,383 |
Significant Other Observable Inputs (Level 2) | Impaired loans at fair value - Trade finance | ' | ' |
Assets: | ' | ' |
Assets | 385 | ' |
Significant Other Observable Inputs (Level 2) | Impaired loans at fair value - Consumer | ' | ' |
Assets: | ' | ' |
Assets | 952 | ' |
Significant Other Observable Inputs (Level 2) | Loans held for sale, net | ' | ' |
Assets: | ' | ' |
Assets | 34 | 6,900 |
Significant Other Observable Inputs (Level 2) | Other real estate owned | ' | ' |
Assets: | ' | ' |
Assets | 5,039 | 4,003 |
Significant Unobservable Inputs (Level 3) | Impaired loans at fair value - Real estate loans | ' | ' |
Assets: | ' | ' |
Assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Impaired loans at fair value - Commercial business | ' | ' |
Assets: | ' | ' |
Assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Impaired loans at fair value - Trade finance | ' | ' |
Assets: | ' | ' |
Assets | 0 | ' |
Significant Unobservable Inputs (Level 3) | Impaired loans at fair value - Consumer | ' | ' |
Assets: | ' | ' |
Assets | 0 | ' |
Significant Unobservable Inputs (Level 3) | Loans held for sale, net | ' | ' |
Assets: | ' | ' |
Assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Other real estate owned | ' | ' |
Assets: | ' | ' |
Assets | $0 | $0 |
Fair_Value_Measurements_Total_
Fair Value Measurements - Total Net Gains Losses on Assets Measured at Fair Value on a Non-Recurring Basis (Details) (Non-recurring basis, Change during period, USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Impaired loans at fair value - Real estate loans | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total gains (losses), fair value | $1,704 | ($7,584) |
Impaired loans at fair value - Commercial business | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total gains (losses), fair value | -10,715 | 535 |
Impaired loans at fair value - Trade finance | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total gains (losses), fair value | -659 | 0 |
Impaired loans at fair value - Consumer | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total gains (losses), fair value | -46 | 0 |
Other real estate owned | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total gains (losses), fair value | ($11) | ($114) |
Fair_Value_Measurements_Carryi
Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Carrying Amount | ' | ' |
Financial Assets: | ' | ' |
Cash and cash equivalents | $403,111 | $316,705 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Estimated Fair Value | ' | ' |
Financial Assets: | ' | ' |
Cash and cash equivalents | 403,111 | 316,705 |
Significant Other Observable Inputs (Level 2) | Carrying Amount | ' | ' |
Financial Assets: | ' | ' |
Loans held for sale | 38,157 | 44,115 |
Customers' liabilities on acceptances | 4,473 | 5,602 |
Financial Liabilities: | ' | ' |
Noninterest-bearing deposits | 1,442,348 | 1,399,454 |
Saving and other interest bearing demand deposits | 1,602,514 | 1,598,514 |
Time deposits | 2,289,698 | 2,150,089 |
FHLB advances | 421,260 | 421,352 |
Subordinated debentures | 42,037 | 57,410 |
Bank's liabilities on acceptances outstanding | 4,473 | 5,602 |
Significant Other Observable Inputs (Level 2) | Estimated Fair Value | ' | ' |
Financial Assets: | ' | ' |
Loans held for sale | 40,065 | 45,975 |
Customers' liabilities on acceptances | 4,473 | 5,602 |
Financial Liabilities: | ' | ' |
Noninterest-bearing deposits | 1,442,348 | 1,399,454 |
Saving and other interest bearing demand deposits | 1,602,514 | 1,598,514 |
Time deposits | 2,294,381 | 2,156,514 |
FHLB advances | 421,059 | 421,258 |
Subordinated debentures | 44,012 | 56,544 |
Bank's liabilities on acceptances outstanding | 4,473 | 5,602 |
Significant Unobservable Inputs (Level 3) | Carrying Amount | ' | ' |
Financial Assets: | ' | ' |
Loans receivable - net | 5,125,095 | 5,006,856 |
FDIC loss share receivable | 253 | 1,110 |
Significant Unobservable Inputs (Level 3) | Estimated Fair Value | ' | ' |
Financial Assets: | ' | ' |
Loans receivable - net | 5,569,266 | 5,450,008 |
FDIC loss share receivable | $253 | $1,110 |
Stockholders_Equity_and_Regula2
Stockholders' Equity and Regulatory Matters - Discussion of Warrants (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Class of Warrant or Right [Line Items] | ' | ' |
Dividend declared | $0.08 | $0.05 |
Common Stock | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' |
Potential repurchase | 342,610 | ' |
Maximum number of shares callable by warrants | 18,392 | ' |
Stockholders_Equity_and_Regula3
Stockholders' Equity and Regulatory Matters - Stockholders’ Equity and Regulatory Matters (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Tier I capital (to average assets), Ratio | ' | ' |
Accumulated other comprehensive income (loss) | ($3,741) | ($10,185) |
Company | ' | ' |
Total capital (to risk-weighted assets), Amount | ' | ' |
Total Capital, Actual | 830,822 | 819,408 |
Total Capital, Required For Capital Adequacy Purposes | 446,256 | 439,687 |
Tier I capital (to risk-weighted assets), Amount | ' | ' |
Tier I Capital, Actual (Risk Based) | 764,197 | 751,204 |
Tier I Capital, Required For Capital Adequacy Purposes | 223,128 | 219,844 |
Tier I capital (to average assets), Amount | ' | ' |
Tier I Capital, Actual (Leverage) | 764,197 | 751,204 |
Tier I Capital, Required For Capital Adequacy Purposes | 257,227 | 251,049 |
Total capital and Tier I capital (to risk-weighted assets), Ratio | ' | ' |
Total Capital (to Risk Weighted Assets), Actual | 14.89% | 14.90% |
Total Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes | 8.00% | 8.00% |
Tier I Capital (to Risk Weighted Assets), Actual (Risk Based) | 13.70% | 13.66% |
Tier I Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes (Risk Based) | 4.00% | 4.00% |
Tier I capital (to average assets), Ratio | ' | ' |
Tier I Capital (to Average Assets), Actual (Leverage) | 11.88% | 11.97% |
Tier I Capital (to Average Assets), Minimum For Capital Adequacy Purposes (Leverage) | 4.00% | 4.00% |
Bank | ' | ' |
Total capital (to risk-weighted assets), Amount | ' | ' |
Total Capital, Actual | 815,512 | 807,620 |
Total Capital, Required For Capital Adequacy Purposes | 446,023 | 439,437 |
Required To Be Well Capitalized under Prompt Corrective Action Provisions | 557,528 | 549,471 |
Tier I capital (to risk-weighted assets), Amount | ' | ' |
Tier I Capital, Actual (Risk Based) | 748,887 | 739,416 |
Tier I Capital, Required For Capital Adequacy Purposes | 223,011 | 219,798 |
Tier I Capital, Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Risk Based) | 334,517 | 329,683 |
Tier I capital (to average assets), Amount | ' | ' |
Tier I Capital, Actual (Leverage) | 748,887 | 739,416 |
Tier I Capital, Required For Capital Adequacy Purposes | 256,934 | 250,954 |
Tier I Capital, Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Leverage) | 321,168 | 313,687 |
Total capital and Tier I capital (to risk-weighted assets), Ratio | ' | ' |
Total Capital (to Risk Weighted Assets), Actual | 14.63% | 14.70% |
Total Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes | 8.00% | 8.00% |
Total Capital (to Risk Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions | 10.00% | 10.00% |
Tier I Capital (to Risk Weighted Assets), Actual (Risk Based) | 13.43% | 13.46% |
Tier I Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes (Risk Based) | 4.00% | 4.00% |
Tier I Capital (to Risk Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Risk Based) | 6.00% | 6.00% |
Tier I capital (to average assets), Ratio | ' | ' |
Tier I Capital (to Average Assets), Actual (Leverage) | 11.66% | 11.79% |
Tier I Capital (to Average Assets), Minimum For Capital Adequacy Purposes (Leverage) | 4.00% | 4.00% |
Tier I Capital (to Average Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Leverage) | 5.00% | 5.00% |
Securities (Assets) | ' | ' |
Tier I capital (to average assets), Ratio | ' | ' |
Accumulated other comprehensive income (loss) | -3,826 | -10,264 |
Accumulated Unrealized Gain (Losses) on Interest Only Strips | ' | ' |
Tier I capital (to average assets), Ratio | ' | ' |
Accumulated other comprehensive income (loss) | $85 | $79 |