Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Aug. 03, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | BBCN BANCORP INC | |
Entity Central Index Key | 1,128,361 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 79,552,236 |
Condensed Consolidated Statemen
Condensed Consolidated Statements Of Financial Condition - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Cash and cash equivalents: | ||
Cash and due from banks | $ 97,224 | $ 86,119 |
Interest bearing deposits in other banks | 224,042 | 376,041 |
Total cash and cash equivalents | 321,266 | 462,160 |
Securities available for sale, at fair value | 875,405 | 796,523 |
Loans held for sale, at the lower of cost or fair value | 33,785 | 28,311 |
Loans receivable (net of allowance for loan losses of $70,118 and $67,758 at June 30, 2015 and December 31, 2014, respectively) | 5,745,706 | 5,497,434 |
Other real estate owned (OREO), net | 20,187 | 21,938 |
Federal Home Loan Bank (FHLB) stock, at cost | 19,114 | 28,324 |
Premises and equipment (net of accumulated depreciation and amortization of $33,295 and $29,915 at June 30, 2015 and December 31, 2014, respectively) | 35,321 | 30,722 |
Accrued interest receivable | 13,781 | 13,634 |
Deferred tax assets, net | 58,892 | 63,023 |
Customers’ liabilities on acceptances | 1,359 | 1,889 |
Bank owned life insurance (BOLI) | 46,466 | 45,927 |
Investments in affordable housing partnerships | 11,910 | 10,401 |
Goodwill | 105,401 | 105,401 |
Core deposit intangible assets, net | 3,354 | 3,887 |
Servicing assets | 10,935 | 10,341 |
Other assets | 30,437 | 20,415 |
Total assets | 7,333,319 | 7,140,330 |
LIABILITIES: | ||
Noninterest bearing | 1,689,137 | 1,543,018 |
Interest bearing: | ||
Money market and NOW accounts | 1,615,974 | 1,663,855 |
Savings deposits | 196,998 | 198,205 |
Time deposits of $100,000 or more | 1,637,673 | 1,667,367 |
Other time deposits | 618,508 | 621,007 |
Total deposits | 5,758,290 | 5,693,452 |
FHLB advances | 580,785 | 480,975 |
Subordinated debentures | 42,241 | 42,158 |
Accrued interest payable | 5,954 | 5,855 |
Acceptances outstanding | 1,359 | 1,889 |
Other liabilities | 36,102 | 33,228 |
Total liabilities | 6,424,731 | 6,257,557 |
STOCKHOLDERS’ EQUITY: | ||
Common stock, $0.001 par value; authorized 150,000,000 shares at June 30, 2015 and December 31, 2014; issued and outstanding, 79,550,403 and 79,503,552 shares at June 30, 2015 and December 31, 2014, respectively | 80 | 79 |
Additional paid-in capital | 541,091 | 541,589 |
Retained earnings | 367,792 | 339,400 |
Accumulated other comprehensive (loss) income, net | (375) | 1,705 |
Total stockholders’ equity | 908,588 | 882,773 |
Total liabilities and stockholders’ equity | $ 7,333,319 | $ 7,140,330 |
Condensed Consolidated Stateme3
Condensed Consolidated Statements Of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Loans receivable, allowance | $ 70,118 | $ 67,758 |
Premises and equipment, accumulated depreciation and amortization | $ 33,295 | $ 29,915 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 150,000,000 | 150,000,000 |
Common stock, shares issued | 79,550,403 | 79,503,552 |
Common stock, shares outstanding | 79,550,403 | 79,503,552 |
Condensed Consolidated Stateme4
Condensed Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
INTEREST INCOME: | ||||
Interest and fees on loans | $ 71,249 | $ 71,687 | $ 140,888 | $ 140,381 |
Interest on securities | 4,215 | 4,078 | 8,434 | 8,172 |
Interest on federal funds sold and other investments | 1,611 | 688 | 2,307 | 1,253 |
Total interest income | 77,075 | 76,453 | 151,629 | 149,806 |
INTEREST EXPENSE: | ||||
Interest on deposits | 7,970 | 7,272 | 15,724 | 13,962 |
Interest on FHLB advances | 1,327 | 1,311 | 2,624 | 2,522 |
Interest on other borrowings | 387 | 380 | 767 | 867 |
Total interest expense | 9,684 | 8,963 | 19,115 | 17,351 |
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES | 67,391 | 67,490 | 132,514 | 132,455 |
PROVISION FOR LOAN LOSSES | 1,000 | 2,996 | 2,500 | 6,022 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 66,391 | 64,494 | 130,014 | 126,433 |
NONINTEREST INCOME: | ||||
Service fees on deposit accounts | 3,030 | 3,360 | 6,092 | 6,832 |
International service fees | 1,005 | 1,113 | 1,818 | 2,116 |
Loan servicing fees, net | 855 | 610 | 1,575 | 1,578 |
Wire transfer fees | 871 | 919 | 1,633 | 1,824 |
Other income and fees | 1,570 | 1,648 | 3,658 | 3,267 |
Net gains on sales of SBA loans | 3,119 | 2,811 | 6,163 | 5,533 |
Net gains on sales of other loans | 45 | 0 | 227 | 0 |
Net gains on sales of securities available for sale | 0 | 0 | 424 | 0 |
Net gains losses on sales of OREO | 73 | 31 | 183 | 437 |
Total noninterest income | 10,568 | 10,492 | 21,773 | 21,587 |
NONINTEREST EXPENSE: | ||||
Salaries and employee benefits | 20,932 | 18,143 | 42,113 | 37,082 |
Occupancy | 4,810 | 4,715 | 9,502 | 9,339 |
Furniture and equipment | 2,323 | 2,012 | 4,586 | 4,026 |
Advertising and marketing | 1,484 | 1,508 | 2,875 | 2,596 |
Data processing and communication | 2,463 | 2,299 | 4,812 | 4,420 |
Professional fees | 1,253 | 1,315 | 2,677 | 2,628 |
FDIC assessments | 909 | 1,080 | 2,021 | 2,103 |
Credit related expenses | 1,976 | 3,016 | 4,165 | 4,437 |
Other | 2,548 | 3,651 | 5,181 | 7,382 |
Total noninterest expense | 38,698 | 37,739 | 77,932 | 74,013 |
INCOME BEFORE INCOME TAX PROVISION | 38,261 | 37,247 | 73,855 | 74,007 |
INCOME TAX PROVISION | 15,320 | 14,935 | 29,556 | 29,499 |
NET INCOME | $ 22,941 | $ 22,312 | $ 44,299 | $ 44,508 |
EARNINGS PER COMMON SHARE | ||||
Basic (in dollars per share) | $ 0.29 | $ 0.28 | $ 0.56 | $ 0.56 |
Diluted (in dollars per share) | $ 0.29 | $ 0.28 | $ 0.56 | $ 0.56 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 22,941 | $ 22,312 | $ 44,299 | $ 44,508 |
Other comprehensive (loss) income: | ||||
Unrealized (losses) gains on securities available for sale and interest only strips | (8,446) | 6,655 | (3,191) | 17,795 |
Reclassification adjustments for gains realized in income | 0 | 0 | (424) | 0 |
Tax (benefit) expense | (3,583) | 2,752 | (1,535) | 7,448 |
Change in unrealized gains on securities available for sale and interest only strips | (4,863) | 3,903 | (2,080) | 10,347 |
Total comprehensive income | $ 18,078 | $ 26,215 | $ 42,219 | $ 54,855 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements Of Changes In Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital [Member] | Retained earnings | Accumulated other comprehensive income (loss), net |
Balance at Dec. 31, 2013 | $ 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 | 52,207 | ||||
Issuance of additional shares pursuant to various stock plans | |||||
Stock-based compensation | $ 297 | ||||
Redemption of common stock warrant | $ 0 | ||||
Cash dividends declared on common stock | (11,917) | ||||
Comprehensive income: | |||||
Net income | 44,508 | 44,508 | |||
Other comprehensive income (loss) | 10,347 | 10,347 | |||
Balance at Jun. 30, 2014 | $ 79 | 541,173 | 311,195 | 162 | |
Balance, shares at Jun. 30, 2014 | 79,493,732 | ||||
Balance at Dec. 31, 2014 | 882,773 | $ 79 | 541,589 | 339,400 | 1,705 |
Balance, shares at Dec. 31, 2014 | 79,503,552 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Issuance of additional shares pursuant to various stock plans, shares | 46,851 | ||||
Issuance of additional shares pursuant to various stock plans | $ 1 | (22) | |||
Stock-based compensation | 628 | ||||
Redemption of common stock warrant | (1,150) | ||||
Cash dividends declared on common stock | (15,907) | ||||
Comprehensive income: | |||||
Net income | 44,299 | 44,299 | |||
Other comprehensive income (loss) | (2,080) | (2,080) | |||
Balance at Jun. 30, 2015 | $ 908,588 | $ 80 | $ 541,091 | $ 367,792 | $ (375) |
Balance, shares at Jun. 30, 2015 | 79,550,403 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 44,299 | $ 44,508 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Depreciation, amortization, net of discount accretion | (1,901) | (10,008) |
Stock-based compensation expense | 628 | 297 |
Provision for loan losses | 2,500 | 6,022 |
Valuation adjustment of OREO | 631 | 448 |
Proceeds from sales of loans held for sale | 73,890 | 68,143 |
Originations of loans held for sale | (74,496) | (77,035) |
Net gains on sales of SBA and other loans | (6,390) | (5,533) |
Net change in BOLI | (539) | (584) |
Net gains on sales of securities available for sale | (424) | 0 |
Net gains on sales of OREO | (183) | (437) |
Gain (Loss) on Disposition of Assets | 7 | 0 |
Servicing Asset at Amortized Cost, Additions | (2,189) | (1,672) |
Change in accrued interest receivable | (147) | 270 |
Change in deferred income taxes, net | 5,666 | 9,293 |
Change in investments in affordable housing partnership | (1,509) | 669 |
Change in other assets | (9,869) | 11,222 |
Change in accrued interest payable | 99 | 1,266 |
Change in other liabilities | 2,874 | (337) |
Net cash provided by operating activities | 32,947 | 46,532 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Net change in loans receivable | (248,001) | (261,309) |
Proceeds from sales of securities available for sale | 22,510 | 0 |
Proceeds from sales of OREO | 6,286 | 5,035 |
Proceeds from Sale of Other Loans Held-for-sale | 3,295 | 0 |
Proceeds from sales and disposals of equipment | 7 | 0 |
Purchase of premises and equipment | (8,121) | (2,987) |
Purchase of securities available for sale | (176,184) | (82,552) |
Payments to Acquire Federal Home Loan Bank Stock | 150 | 536 |
Redemption of FHLB stock | 9,360 | 78 |
Proceeds from matured or paid-down securities available for sale | 69,227 | 57,640 |
Net cash used in investing activities | (321,771) | (284,631) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net change in deposits | 64,962 | 323,694 |
Redemption of subordinated debentures | 0 | (15,464) |
Proceeds from FHLB advances | 150,000 | 40,000 |
Repayment of FHLB advances | 50,000 | 0 |
Redemption of common stock warrant | 1,150 | 0 |
Cash dividends paid on Common Stock | (15,907) | (11,917) |
Issuance of additional stock pursuant to various stock plans | (21) | 0 |
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | 46 | 0 |
Net cash provided by financing activities | 147,930 | 336,313 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | (140,894) | 98,214 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 462,160 | 316,705 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 321,266 | 414,919 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||
Interest paid | 19,016 | 16,085 |
Income taxes paid | 29,873 | 14,245 |
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES | ||
Transfer from loans receivable to OREO | 5,142 | 1,368 |
Transfer from loans receivable to loans held for sale | 1,773 | 34 |
Loans to facilitate sales of loans held for sale | 0 | $ 5,250 |
Additional Paid-in Capital [Member] | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | $ (46) |
BBCN Bancorp, Inc.
BBCN Bancorp, Inc. | 6 Months Ended |
Jun. 30, 2015 | |
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 bank holding company registered under the Bank Holding Company Act of 1956, as amended. |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2015 | |
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, 2014 which was derived from audited financial statements included in the Company's 2014 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 June 30, 2015 and the results of operations for the three and six months then ended. Certain reclassifications have been made to prior period amounts to conform to the current year presentation. 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, and the valuation of servicing assets. These unaudited condensed consolidated financial statements should be read along with the audited consolidated financial statements and accompanying notes included in the Company's 2014 Annual Report on Form 10-K. Recent Accounting Pronouncements: FASB ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). This update to the ASC is the culmination of efforts by the FASB and the International Accounting Standards Board (IASB) to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards (IFRS). The core principal of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance in ASU 2014-09 describes a 5-step process entities can apply to achieve the core principle of revenue recognition and requires disclosures sufficient to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers and the significant judgments used in determining that information. The amendments in ASU 2014-9 are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period and early application is not allowed. The adoption of ASU 2014-9 is not expected to have a significant impact on the Company's financial statements. FASB ASU No. 2015-10, Technical Corrections and Improvements. The amendments in ASU 2015-10 represent changes to clarify the Codification, correct unintended application of guidance, or make minor improvements to the Codification that are not expected to have significant effect on current accounting practice or create a significant administrative cost to most entities. The amendments that require transition guidance are effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2015. The adoption of ASU 2015-10 is not expected to have a significant impact on the Company's financial statements. |
Business Combinations
Business Combinations | 6 Months Ended |
Jun. 30, 2015 | |
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, 2015, the Company had issued 183,269 shares of Company common stock in exchange for 69,749 shares of Foster common stock and paid $2.0 million for 58,906 shares of Foster common stock. As of March 31, 2015, there were 3,345 shares of Foster common stock that had not been redeemed, and the accrued liability for the unredeemed shares of Foster common stock was $116 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 $ 2,609 Cash paid for the redemption of Foster common stock 2,042 Liability for unredeemed Foster common stock 116 Total consideration paid $ 4,767 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 (5,857 ) Total identifiable net assets $ (10,758 ) Excess of consideration paid over fair value of net assets acquired (goodwill) $ 15,525 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 its presence 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 $197.6 million and $167.2 million, respectively, for Foster and $78.3 million and $71.0 million, respectively, for PIB, as of March 31, 2015. Pro Forma Information The operating results of Foster and PIB from the dates of acquisitions through March 31, 2015 are included in the Condensed Consolidated Statement of Income for 2015 and 2014. The following unaudited combined pro forma information presents the operating results for the three and nine months ended March 31, 2015 and 2014, as if the Foster and PIB acquisitions had occurred on January 1, 2013: Three Months Ended March 31, Three Months Ended March 31, 2015 2.014 2015 2.014 (In thousands, except share data) Net interest income $ 67,907 $ 66,353 $ 200,363 $ 196,861 Net income $ 21,420 $ 22,960 $ 65,928 $ 60,084 Preferred stock dividends and accretion of preferred stock discount — — — — Net income (loss) available to common stockholders $ — $ — $ — $ — Pro forma earnings per share: Basic $ 0.27 $ 0.29 $ 0.83 $ 0.76 Diluted $ 0.27 $ 0.29 $ 0.83 $ 0.75 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 the valuation and accretion of income associated with acquired loans. Acquisition-Related Expenses The following table presents acquisition-related expenses associated with the Foster and PIB acquisitions which were reflected in the Condensed Consolidated Statements of Income in merger and integration expense. These expenses are comprised primarily of salaries and benefits, occupancy expenses, professional services and other noninterest expense. Three Months Ended March 31, Three Months Ended March 31, 2014 2013 2014 2013 (Dollars in thousands) PIB $ — $ (275 ) $ 31 $ 1,057 Foster $ 66 $ 1,206 $ 259 $ 1,564 Total $ 66 $ 931 $ 290 $ 2,621 |
Stock-Based Compensation
Stock-Based Compensation | 6 Months Ended |
Jun. 30, 2015 | |
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 the Company's 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 2006 Stock Incentive Plan, adopted April 12, 2006, as amended and restated June 13, 2007 (the "2006 Plan"). 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 Plan and 2006 Plan, 2,495,362 shares were available for future grants as of June 30, 2015 . The total shares reserved for issuance will serve as the underlying value for all equity awards under the 2007 Plan and 2006 Plan. 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 Plan and 2006 Plan for the six months ended June 30, 2015 : Number of Shares Weighted- Average Exercise Price Per Share Weighted- Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding - January 1, 2015 591,652 $ 19.00 Granted — — Exercised — — Expired (3,902 ) 25.94 Forfeited — — Outstanding - June 30, 2015 587,750 $ 18.93 2.22 $ — Options exercisable - June 30, 2015 417,750 $ 20.19 2.22 $ — The following is a summary of restricted and performance unit activity under the 2007 Plan and 2006 Plan for the six months ended June 30, 2015 : Number of Shares Weighted- Average Grant Date Fair Value Outstanding - January 1, 2015 175,668 $ 13.52 Granted 15,000 14.11 Vested (53,083 ) 12.20 Forfeited (2,288 ) 14.38 Outstanding - June 30, 2015 135,297 $ 14.07 The total fair value of restricted performance units vested for the six months ended June 30, 2015 and 2014 was $ 725 thousand and $862 thousand , respectively. The amount charged against income related to stock-based payment arrangements was $ 420 thousand and $ 184 thousand for the three months ended June 30, 2015 and 2014 , respectively. For the six months ended June 30, 2015 and 2014 , $628 thousand and $297 thousand , respectively, of stock-based payment arrangements were charged against income. The income tax benefit recognized was $ 168 thousand and $ 74 thousand for the three months ended June 30, 2015 and 2014 , respectively, and the amount recognized was $251 thousand and $115 thousand for the six months ended June 30, 2015 and 2014 , respectively. At June 30, 2015 , the unrecognized compensation expense related to non-vested stock option grants was $ 756 thousand which is expected to be recognized over a weighted average vesting period of 3.80 years. At June 30, 2015 , the unrecognized compensation expense related to non-vested restricted units and performance units was $1.6 million which is expected to be recognized over a weighted average vesting period of 3.07 years. |
Earnings Per Share ("EPS")
Earnings Per Share ("EPS") | 6 Months Ended |
Jun. 30, 2015 | |
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 June 30, 2015 stock options and restricted shares awards for 596,982 shares of common stock were excluded in computing diluted earnings per common share because they were antidilutive. For the six months period ended June 30, 2015, stock options and restricted share awards for 595,209 shares of common stock 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 19,013 shares and 18,482 shares of common stock were antidilutive and excluded for the three and six months ended June 30, 2015 and 2014 , respectively. The following tables show the computation of basic and diluted EPS for the three months and six months ended June 30, 2015 and 2014 . Three Months Ended June 30, 2015 2014 Net income (Numerator) Weighted-Average Shares (Denominator) Per Share (Amount) Net income (Numerator) Weighted-Average Shares Per Share (Amount) (In thousands, except share and per share data) Basic EPS - common stock $ 22,941 79,549,097 $ 0.29 $ 22,312 79,490,767 $ 0.28 Effect of dilutive securities: Stock options and performance units 20,778 40,119 Common stock warrants 38,530 83,160 Diluted EPS - common stock $ 22,941 79,608,405 $ 0.29 $ 22,312 79,614,046 $ 0.28 Six Months Ended June 30, 2015 2014 Net income available to common stockholders (Numerator) Weighted-Average Shares Per Share (Amount) Net income available to common stockholders (Numerator) Weighted-Average Shares Per Share (Amount) (In thousands, except share and per share data) Basic EPS - common stock $ 44,299 79,539,789 $ 0.56 $ 44,508 79,481,359 $ 0.56 Effect of Dilutive Securities: Stock Options and Performance Units 24,155 49,132 Common stock warrants 46,712 87,955 Diluted EPS - common stock $ 44,299 79,610,656 $ 0.56 $ 44,508 79,618,446 $ 0.56 |
Securities Available for Sale
Securities Available for Sale | 6 Months Ended |
Jun. 30, 2015 | |
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 June 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (In thousands) Debt securities: U.S. Government agency and U.S. Government sponsored enterprises Collateralized mortgage obligations $ 363,759 $ 1,774 $ (3,380 ) $ 362,153 Mortgage-backed securities 450,974 4,211 (2,858 ) 452,327 Trust preferred securities 4,538 — (575 ) 3,963 Municipal bonds 39,672 438 (441 ) 39,669 Total debt securities 858,943 6,423 (7,254 ) 858,112 Mutual funds 17,425 — (132 ) 17,293 $ 876,368 $ 6,423 $ (7,386 ) $ 875,405 At December 31, 2014 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (In thousands) Debt securities: U.S. Government agency and U.S. Government sponsored enterprises Collateralized mortgage obligations $ 304,947 $ 1,376 $ (3,549 ) $ 302,774 Mortgage-backed securities 460,487 6,528 (1,526 ) 465,489 Trust preferred securities 4,531 — (544 ) 3,987 Municipal bonds 6,487 443 — 6,930 Total debt securities 776,452 8,347 (5,619 ) 779,180 Mutual funds 17,425 — (82 ) 17,343 $ 793,877 $ 8,347 $ (5,701 ) $ 796,523 As of June 30, 2015 and December 31, 2014 , 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 June 30, 2015 and 2014 , $8.4 million of unrealized losses and $6.7 million of unrealized gains, respectively, were included in accumulated other comprehensive loss. For the six months ended June 30, 2015 and 2014, $3.2 million of unrealized losses and $17.8 million of unrealized gains, respectively, were included in accumulated other comprehensive loss. There were no gains or losses reclassified out of accumulated other comprehensive loss for the three months ended June 30, 2015 and 2014. A total of $424 thousand and $0 of net gains on sales of securities were reclassified out of accumulated other comprehensive loss into earnings for the six months ended June 30, 2015 and 2014 , respectively. The proceeds from sales of securities and the associated gross gains and losses recorded in earnings are listed below: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Proceeds $ — $ — $ 22,510 $ — Gross gains — — 424 — Gross losses — — — — The amortized cost and estimated fair value of debt securities at June 30, 2015 , 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 Cost Estimated Fair Value (In thousands) Available for sale: Due within one year $ 340 $ 340 Due after one year through five years 882 959 Due after five years through ten years 23,894 24,024 Due after ten years 19,094 18,309 U.S. Government agency and U.S. Government sponsored enterprises Collateralized mortgage obligations 363,759 362,153 Mortgage-backed securities 450,974 452,327 Mutual funds 17,425 17,293 $ 876,368 $ 875,405 Securities with carrying values of approximately $ 339.1 million and $ 366.2 million at June 30, 2015 and December 31, 2014 , respectively, were pledged to secure public deposits, various borrowings and for other purposes as required or permitted by law. The following tables show 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. As of June 30, 2015 Less than 12 months 12 months or longer Total Description of Securities Number of Securities Fair Value Gross Unrealized Losses Number of Securities Fair Value Gross Unrealized Losses Number of Securities Fair Value Gross Unrealized Losses (In thousands) Collateralized mortgage obligations* 12 $ 102,215 $ (1,000 ) 9 $ 84,821 $ (2,380 ) 21 $ 187,036 $ (3,380 ) Mortgage-backed securities* 20 182,162 (1,236 ) 3 28,929 (1,622 ) 23 211,091 (2,858 ) Trust preferred securities — — — 1 3,963 (575 ) 1 3,963 (575 ) Municipal bonds 63 29,867 (441 ) — — — 63 29,867 (441 ) Mutual funds 1 13,293 (132 ) — — — 1 13,293 (132 ) 96 $ 327,537 $ (2,809 ) 13 $ 117,713 $ (4,577 ) 109 $ 445,250 $ (7,386 ) * Investments in U.S. Government agency and U.S. Government sponsored enterprises As of December 31, 2014 Less than 12 months 12 months or longer Total Description of Securities Number of Securities Fair Value Gross Unrealized Losses Number of Securities Fair Value Gross Unrealized Losses Number of Securities Fair Value Gross Unrealized Losses (In thousands) Collateralized mortgage obligations* 7 $ 71,189 $ (507 ) 13 $ 133,563 $ (3,042 ) 20 $ 204,752 $ (3,549 ) Mortgage-backed securities* 7 38,133 (139 ) 6 62,036 (1,387 ) 13 100,169 (1,526 ) Trust Preferred securities — — — 1 3,988 (544 ) 1 3,988 (544 ) Mutual funds — — — 1 13,343 (82 ) 1 13,343 (82 ) 14 $ 109,322 $ (646 ) 21 $ 212,930 $ (5,055 ) 35 $ 322,252 $ (5,701 ) * 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 collateralized mortgage obligations, mortgage-backed securities and trust preferred securities that were in a continuous unrealized loss position for twelve months or longer as of June 30, 2015 . The trust preferred securities at June 30, 2015 had an amortized cost of $4.5 million and an unrealized loss of $ 575 thousand at June 30, 2015 . The trust preferred securities are scheduled to mature in May 2047. These securities were rated investment grade and there were no credit quality concerns with the obligor. The collateralized mortgage obligations and mortgage-backed securities in a continuous loss position for twelve months or longer had an unrealized loss of $2.4 million and $1.6 million , respectively at June 30, 2015 . These securities were issued by U.S. Government agency and U.S. Government sponsored enterprises and 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 were primarily due to movements in interest rates and are not reflective of management’s expectations of the Company's 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 June 30, 2015 . The Company considers the losses on the investments in unrealized loss positions at June 30, 2015 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 the Company 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 | 6 Months Ended |
Jun. 30, 2015 | |
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: June 30, 2015 December 31, 2014 (In thousands) Loan portfolio composition Real estate loans: Residential $ 36,706 $ 21,415 Commercial & industrial 4,503,794 4,324,349 Construction 104,901 94,086 Total real estate loans 4,645,401 4,439,850 Commercial business 970,787 903,621 Trade finance 114,927 134,762 Consumer and other 87,707 89,849 Total loans outstanding 5,818,822 5,568,082 Less: deferred loan fees (2,998 ) (2,890 ) Loans receivable 5,815,824 5,565,192 Less: allowance for loan losses (70,118 ) (67,758 ) Loans receivable, net of allowance for loan losses $ 5,745,706 $ 5,497,434 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"). 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 and six months ended June 30, 2015 and 2014 : Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Balance at beginning of period $ 22,645 $ 32,583 $ 24,051 $ 47,398 Accretion (3,096 ) (4,197 ) (6,232 ) (9,064 ) Changes in expected cash flows 1,840 (102 ) 3,570 (10,050 ) Balance at end of period $ 21,389 $ 28,284 $ 21,389 $ 28,284 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 and six months ended June 30, 2015 and 2014 : 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 June 30, 2015 Balance, beginning of period $ 35,772 $ 16,168 $ 3,041 $ 416 $ 13,724 $ 422 $ — $ 51 $ 69,594 Provision (credit) for loan losses 1,224 (751 ) (522 ) 521 280 240 — 8 1,000 Loans charged off (61 ) (448 ) (759 ) — (13 ) (170 ) — — (1,451 ) Recoveries of charge offs 61 809 — 92 — 8 — 5 975 Balance, end of period $ 36,996 $ 15,778 $ 1,760 $ 1,029 $ 13,991 $ 500 $ — $ 64 $ 70,118 Six Months Ended June 30, 2015 Balance, beginning of period $ 38,775 $ 15,986 $ 3,456 $ 427 $ 8,573 $ 485 $ — $ 56 $ 67,758 Provision (credit) for loan losses (2,398 ) (773 ) (709 ) 523 5,590 262 — 5 2,500 Loans charged off (242 ) (899 ) (987 ) (15 ) (172 ) (257 ) — (4 ) (2,576 ) Recoveries of charge offs 861 1,464 — 94 0 10 — 7 2,436 Balance, end of period $ 36,996 $ 15,778 $ 1,760 $ 1,029 $ 13,991 $ 500 $ — $ 64 $ 70,118 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 June 30, 2014 Balance, beginning of period $ 38,586 $ 16,208 $ 2,944 $ 467 $ 6,838 $ 593 $ — $ 63 $ 65,699 Provision (credit) for loan losses 1,066 (336 ) 1,624 (69 ) 622 88 — 1 2,996 Loans charged off (726 ) (1,794 ) — (18 ) (188 ) (45 ) — — (2,771 ) Recoveries of charge offs 132 581 — 211 17 3 — 2 946 Balance, end of period $ 39,058 $ 14,659 $ 4,568 $ 591 $ 7,289 $ 639 $ — $ 66 $ 66,870 Six Months Ended June 30, 2014 Balance, beginning of period $ 40,068 $ 16,796 $ 2,653 $ 461 $ 6,482 $ 796 $ — $ 64 $ 67,320 Provision (credit) for loan losses (348 ) 2,211 1,972 (62 ) 1,073 1,099 — 77 6,022 Loans charged off (813 ) (5,519 ) (57 ) (19 ) (283 ) (1,265 ) — (78 ) (8,034 ) Recoveries of charge offs 151 1,171 — 211 17 9 — 3 1,562 Balance, end of period $ 39,058 $ 14,659 $ 4,568 $ 591 $ 7,289 $ 639 $ — $ 66 $ 66,870 The following tables disaggregate the allowance for loan losses and the loans outstanding by impairment methodology at June 30, 2015 and December 31, 2014 : June 30, 2015 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 $ 1,783 $ 4,383 $ 320 $ 615 $ 591 $ 373 $ — $ — $ 8,065 Collectively evaluated for impairment 35,213 11,395 1,440 414 753 127 — 64 49,406 ACILs — — — — 12,647 — — — 12,647 Total $ 36,996 $ 15,778 $ 1,760 $ 1,029 $ 13,991 $ 500 $ — $ 64 $ 70,118 Loans outstanding: Individually evaluated for impairment $ 54,022 $ 36,403 $ 6,670 $ 1,067 $ 18,323 $ 1,641 $ — $ 572 $ 118,698 Collectively evaluated for impairment 4,171,701 875,857 108,257 41,031 313,877 30,425 — 23,323 5,564,471 ACILs — — — — 87,478 26,461 — 21,714 135,653 Total $ 4,225,723 $ 912,260 $ 114,927 $ 42,098 $ 419,678 $ 58,527 $ — $ 45,609 $ 5,818,822 December 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 $ 1,940 $ 6,929 $ 1,312 $ — $ 434 $ 307 $ — $ — $ 10,922 Collectively evaluated for impairment 36,835 9,057 2,144 427 792 178 — 56 49,489 ACILs — — — — 7,347 — — — 7,347 Total $ 38,775 $ 15,986 $ 3,456 $ 427 $ 8,573 $ 485 $ — $ 56 $ 67,758 Loans outstanding: Individually evaluated for impairment $ 57,506 $ 40,829 $ 5,936 $ 465 $ 20,035 $ 1,778 $ — $ 596 $ 127,145 Collectively evaluated for impairment 3,864,289 784,407 128,826 37,312 397,147 43,460 — 25,859 5,281,300 ACILs — — — — 100,873 33,147 — 25,617 159,637 Total $ 3,921,795 $ 825,236 $ 134,762 $ 37,777 $ 518,055 $ 78,385 $ — $ 52,072 $ 5,568,082 As of June 30, 2015 and December 31, 2014 , the liability for unfunded commitments was $ 1.4 million and $1.6 million , respectively. For the three months ended June 30, 2015 and 2014 , the recognized credit or provision for credit losses related to unfunded commitments was $95 thousand and $547 thousand , respectively. For the six months ended June 30, 2015 and 2014 , the recognized (benefit) provision for credit losses related to unfunded commitments was $ (146) thousand and $ 588 thousand , respectively. The recorded investment in individually impaired loans was as follows: June 30, 2015 December 31, 2014 (In thousands) With allocated allowance Without charge off $ 65,343 $ 67,352 With charge off 1,184 6,582 With no allocated allowance Without charge off 48,001 46,885 With charge off 4,170 6,326 Allowance on impaired loans (8,065 ) (10,922 ) Impaired loans, net of allowance $ 110,633 $ 116,223 The following tables detail impaired loans (Legacy and APLs that became impaired subsequent to being acquired) as of June 30, 2015 and December 31, 2014 and for the three and six months ended June 30, 2015 and 2014 and for the year ended December 31, 2014 . Loans with no related allowance for loan losses are believed by management to have adequate collateral securing their carrying value. As of June 30, 2015 For the Six Months Ended June 30, 2015 For the Three Months Ended June 30, 2015 Total Impaired Loans Recorded Investment* Unpaid Contractual Principal Balance Related Allowance Average Recorded Investment* Interest Income Recognized during Impairment Average Recorded Investment* Interest Income Recognized during Impairment (In thousands) With related allowance: Real estate—residential $ — $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 4,419 4,615 243 4,411 88 4,165 44 Hotel & motel 11,416 11,422 326 12,134 258 11,500 129 Gas station & car wash 1,719 1,928 341 1,479 29 1,266 15 Mixed use 481 497 9 481 481 Industrial & warehouse 4,434 4,434 12 4,489 84 5,678 42 Other 8,779 9,665 1,443 8,823 176 8,344 88 Real estate—construction — — — — — — — Commercial business 29,648 29,961 4,756 32,453 579 30,030 286 Trade finance 5,016 5,016 320 4,678 108 4,990 54 Consumer and other 615 615 615 209 — 314 — $ 66,527 $ 68,153 $ 8,065 $ 69,157 $ 1,322 $ 66,768 $ 658 With no related allowance: Real estate—residential $ — $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 9,197 10,932 — 10,260 167 9,536 84 Hotel & motel 6,522 8,600 — 6,122 7 6,187 3 Gas station & car wash 3,682 6,205 — 3,391 22 3,739 11 Mixed use 3,482 3,876 — 2,356 21 2,740 10 Industrial & warehouse 9,264 12,932 — 11,033 154 9,362 77 Other 8,950 10,675 — 8,730 77 9,554 40 Real estate—construction — — — 1,000 — 740 — Commercial business 8,395 10,562 — 8,104 81 9,502 41 Trade finance 1,654 5,000 — 1,643 — 1,524 — Consumer and other 1,025 1,094 — 1,064 13 1,066 7 $ 52,171 $ 69,876 $ — $ 53,703 $ 542 $ 53,950 $ 273 Total $ 118,698 $ 138,029 $ 8,065 $ 122,860 $ 1,864 $ 120,718 $ 931 * Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. For the Six Months Ended June 30, 2014 For the Three Months Ended June 30, 2014 Total Impaired Loans Average Recorded Investment* Interest Income Recognized during Impairment Average Recorded Investment* Interest Income Recognized during Impairment (In thousands) With related allowance: Real estate—residential $ — $ — $ — $ — Real estate—commercial Retail 5,238 46 4,198 27 Hotel & motel 11,771 266 11,696 133 Gas station & car wash 2,774 38 2,589 19 Mixed use 1,049 20 1,109 10 Industrial & warehouse 9,104 151 7,456 76 Other 9,353 166 8,898 82 Real estate—construction — — — — Commercial business 30,875 594 28,981 310 Trade finance 6,526 99 6,990 51 Consumer and other 178 — — — $ 76,868 $ 1,380 $ 71,917 $ 708 With no related allowance: Real estate—residential $ — $ — $ — $ — Real estate—commercial Retail 6,875 124 8,300 62 Hotel & motel 6,480 — 6,468 — Gas station & car wash 4,820 — 4,808 — Mixed use 1,143 — 1,292 — Industrial & warehouse 7,528 160 9,389 83 Other 4,401 56 5,828 30 Real estate—construction 1,606 42 1,596 21 Commercial business 9,345 138 11,296 75 Trade finance 453 — 634 — Consumer and other 1,234 15 1,468 8 $ 43,885 $ 535 $ 51,079 $ 279 Total $ 120,753 $ 1,915 $ 122,996 $ 987 * Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. As of June 30, 2015 For the Six Months Ended June 30, 2015 For the Three Months Ended June 30, 2015 Impaired APLs Recorded Investment* Unpaid Contractual Principal Balance Related Allowance Average Recorded Investment* Interest Income Recognized during Impairment Average Recorded Investment* Interest Income Recognized during Impairment (In thousands) With related allowance: Real estate—residential $ — $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 2,579 2,568 185 2,278 74 2,591 37 Hotel & motel — — — — — — — Gas station & car wash 1,719 1,928 341 1,398 29 1,215 15 Mixed use 352 348 2 352 — 352 — Industrial & warehouse — — — 120 — 180 — Other 1,288 1,575 62 1,123 8 803 4 Real estate—construction — — — — — — — Commercial business 736 884 373 721 9 697 4 Trade finance — — — — — — — Consumer and other — — — 1 — 1 — $ 6,674 $ 7,303 $ 963 $ 5,993 $ 120 $ 5,839 $ 60 With no related allowance: Real estate—residential $ — $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 1,370 1,479 — 2,037 7 1,476 3 Hotel & motel 5,730 7,779 — 5,613 7 5,624 3 Gas station & car wash — — — 347 — 516 — Mixed use 279 444 — 167 2 251 1 Industrial & warehouse 1,125 1,221 — 1,362 2 1,174 1 Other 3,881 4,906 — 4,287 21 4,426 10 Real estate—construction — — — — — — — Commercial business 904 1,664 — 982 33 968 17 Trade finance — — — — — — — Consumer and other 573 642 — 606 4 611 2 $ 13,862 $ 18,135 $ — $ 15,401 $ 76 $ 15,046 $ 37 Total $ 20,536 $ 25,438 $ 963 $ 21,394 $ 196 $ 20,885 $ 97 * Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. For the Six Months Ended June 30, 2014 For the Three Months Ended June 30, 2014 Impaired APLs Average Recorded Investment* Interest Income Recognized during Impairment Average Recorded Investment* Interest Income Recognized during Impairment (In thousands) With related allowance: Real estate—residential $ — $ — $ — $ — Real estate—commercial Retail 264 — 201 — Hotel & motel — — — — Gas station & car wash 1,791 30 2,289 15 Mixed use 118 — 177 — Industrial & warehouse 1,709 — — — Other 1,054 4 899 2 Real estate—construction — — — — Commercial business 1,240 4 868 3 Trade finance — — — — Consumer and other — — — — $ 6,176 $ 38 $ 4,434 $ 20 With no related allowance: Real estate—residential $ — $ — $ — $ — Real estate—commercial Retail 1,549 15 1,702 7 Hotel & motel 6,379 — 6,347 — Gas station & car wash 1,029 — 736 — Mixed use 307 — 460 — Industrial & warehouse 3,281 5 3,981 2 Other 3,396 20 4,526 12 Real estate—construction — — — — Commercial business 1,505 10 1,853 7 Trade finance — — — — Consumer and other 887 4 947 2 $ 18,333 $ 54 $ 20,552 $ 30 Total $ 24,509 $ 92 $ 24,986 $ 50 * Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. As of December 31, 2014 For the Year Ended December 31, 2014 Total Impaired Loans 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 4,902 5,288 390 5,205 127 Hotel & motel 13,401 14,548 469 12,053 532 Gas station & car wash 1,904 3,507 379 2,440 60 Mixed use 482 497 13 823 — Industrial & warehouse 2,111 2,126 13 7,309 119 Other 9,781 10,389 1,110 9,709 355 Real estate—construction — — — — — Commercial business 37,300 38,730 7,236 32,798 1,502 Trade finance 4,053 11,310 1,312 6,647 — Consumer and other — — — 114 — $ 73,934 $ 86,395 $ 10,922 $ 77,098 $ 2,695 With no related allowance: Real estate—residential $ — $ — $ — $ — $ — Real estate—commercial Retail 11,708 13,492 — 8,462 358 Hotel & motel 5,992 8,728 — 6,655 — Gas station & car wash 2,693 4,065 — 4,139 44 Mixed use 1,589 1,697 — 1,415 39 Industrial & warehouse 14,374 17,940 — 9,311 494 Other 7,083 9,886 — 5,118 93 Real estate—construction 1,521 1,545 — 1,583 — Commercial business 5,307 6,880 — 8,349 50 Trade finance 1,883 5,000 — 724 — Consumer and other 1,061 1,118 — 1,168 28 $ 53,211 $ 70,351 $ — $ 46,924 $ 1,106 Total $ 127,145 $ 156,746 $ 10,922 $ 124,022 $ 3,801 * Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. As of December 31, 2014 For the Year Ended December 31, 2014 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 1,653 1,638 36 838 97 Hotel & motel — — — — — Gas station & car wash 1,762 1,953 379 1,783 60 Mixed use 352 348 2 212 — Industrial & warehouse — — — 1,026 — Other 1,763 2,016 17 1,134 5 Real estate—construction — — — — — Commercial business 769 928 307 1,090 15 Trade finance — — — — — Consumer and other — — — — — $ 6,299 $ 6,883 $ 741 $ 6,083 $ 177 With no related allowance: Real estate—residential $ — $ — $ — $ — $ — Real estate—commercial Retail 3,158 3,376 — 1,869 27 Hotel & motel 5,591 7,493 — 6,067 — Gas station & car wash 9 297 — 621 — Mixed use — — — 275 — Industrial & warehouse 1,737 1,954 — 2,673 39 Other 4,009 5,174 — 3,798 41 Real estate—construction — — — — — Commercial business 1,009 1,758 — 1,321 4 Trade finance — — — — — Consumer and other 596 652 — 772 8 $ 16,109 $ 20,704 $ — $ 17,396 $ 119 Total $ 22,408 $ 27,587 $ 741 $ 23,479 $ 296 * 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 June 30, 2015 and December 31, 2014 by class of loans: As of June 30, 2015 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 901 225 — 1,126 2,558 3,684 Hotel & motel — — — — 945 945 Gas station & car wash — 567 333 900 2,971 3,871 Mixed use — 434 — 434 2,552 2,986 Industrial & warehouse — 113 — 113 1,220 1,333 Other — — — — 2,831 2,831 Real estate—construction — — — — — — Commercial business 594 207 — 801 9,431 10,232 Trade finance 1,933 — — 1,933 1,954 3,887 Consumer and other 29 — — 29 870 899 Subtotal $ 3,457 $ 1,546 $ 333 $ 5,336 $ 25,332 $ 30,668 Acquired Loans: (1) Real estate—residential $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 1,442 68 — 1,510 1,334 2,844 Hotel & motel — 286 — 286 5,448 5,734 Gas station & car wash — — — — 695 695 Mixed use — 47 — 47 567 614 Industrial & warehouse — — — — 1,053 1,053 Other — — — — 3,748 3,748 Real estate—construction 105 228 — 333 646 979 Commercial business — — — — — — Trade finance — — — — — — Consumer and other 6 — — 6 858 864 Subtotal $ 1,553 $ 629 $ — $ 2,182 $ 14,349 $ 16,531 TOTAL $ 5,010 $ 2,175 $ 333 $ 7,518 $ 39,681 $ 47,199 (1) The Acquired Loans exclude ACILs. (2) Nonaccrual loans exclude the guaranteed portion of delinquent SBA loans that are in liquidation totaling $22.6 million . As of December 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 201 351 — 552 4,586 5,138 Hotel & motel 299 — — 299 2,336 2,635 Gas station & car wash — — — — 2,105 2,105 Mixed use 437 — — 437 930 1,367 Industrial & warehouse — 208 — 208 2,335 2,543 Other 455 524 — 979 2,150 3,129 Real estate—construction — — — — 1,521 1,521 Commercial business 655 729 — 1,384 9,640 11,024 Trade finance — — — — 3,194 3,194 Consumer and other 36 — — 36 18 54 Subtotal $ 2,083 $ 1,812 $ — $ 3,895 $ 28,815 $ 32,710 Acquired Loans: (1) Real estate—residential $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 1,402 — — 1,402 2,792 4,194 Hotel & motel — — — — 5,591 5,591 Gas station & car wash — — — — 736 736 Mixed use 345 — — 345 352 697 Industrial & warehouse — — 361 361 1,185 1,546 Other — — — — 4,370 4,370 Real estate—construction — — — — — — Commercial business 36 347 — 383 1,468 1,851 Trade finance — — — — — — Consumer and other 23 90 — 113 1,044 1,157 Subtotal $ 1,806 $ 437 $ 361 $ 2,604 $ 17,538 $ 20,142 TOTAL $ 3,889 $ 2,249 $ 361 $ 6,499 $ 46,353 $ 52,852 (1) The Acquired Loans exclude ACILs. (2) Nonaccrual loans exclude guaranteed portion of delinquent SBA loans that are in liquidation totaling $28.9 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. The Company categorizes 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. The Company analyzes 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. The definitions for risk ratings are as follows: • 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 June 30, 2015 and December 31, 2014 by class of loans: As of June 30, 2015 Pass Special Mention Substandard Doubtful/Loss Total (In thousands) Legacy Loans: Real estate—residential $ 35,985 $ — $ — $ — $ 35,985 Real estate—commercial Retail 975,319 23,326 14,022 — 1,012,667 Hotel & motel 889,763 113 6,929 — 896,805 Gas station & car wash 573,688 8,814 4,865 — 587,367 Mixed use 303,047 787 3,430 — 307,264 Industrial & warehouse 422,067 8,508 9,577 — 440,152 Other 796,285 29,621 14,676 — 840,582 Real estate—construction 104,901 — — — 104,901 Commercial business 853,739 20,092 38,219 210 912,260 Trade finance 93,430 11,458 10,039 — 114,927 Consumer and other 40,765 6 1,317 10 42,098 Subtotal $ 5,088,989 $ 102,725 $ 103,074 $ 220 $ 5,295,008 Acquired Loans: Real estate—residential $ 436 $ 285 $ — $ — $ 721 Real estate—commercial Retail 141,896 3,617 17,990 — 163,503 Hotel & motel 37,499 6,214 13,112 — 56,825 Gas station & car wash 25,251 381 7,089 — 32,721 Mixed use 18,681 11,626 2,825 — 33,132 Industrial & warehouse 45,691 1,237 10,694 — 57,622 Other 61,192 529 13,016 417 75,154 Real estate—construction — — — — — Commercial business 38,317 1,547 18,142 521 58,527 Trade finance — — — — — Consumer and other 35,686 1,634 7,394 895 45,609 Subtotal $ 404,649 $ 27,070 $ 90,262 $ 1,833 $ 523,814 Total $ 5,493,638 $ 129,795 $ 193,336 $ 2,053 $ 5,818,822 As of December 31, 2014 Pass Special Mention Substandard Doubtful/Loss Total (In thousands) Legacy Loans: Real estate—residential $ 20,586 $ — $ — $ — $ 20,586 Real estate—commercial Retail 1,015,195 20,177 14,805 — 1,050,177 Hotel & motel 784,586 114 7,746 — 792,446 Gas station & car wash 553,901 — 8,857 — 562,758 Mixed use 288,409 1,147 2,187 — 291,743 Industrial & warehouse 347,805 9,181 12,313 — 369,299 Other 699,644 28,044 13,013 — 740,701 Real estate—construction 92,564 — 1,521 — 94,085 Commercial business 765,280 18,792 41,138 26 825,236 Trade finance 103,844 18,599 12,319 — 134,762 Consumer and other 37,256 38 470 13 37,777 Subtotal $ 4,709,070 $ 96,092 $ 114,369 $ 39 $ 4,919,570 Acquired Loans: Real estate—residential $ 539 $ 290 $ — $ — $ 829 Real estate—commercial Retail 157,485 3,531 25,469 — 186,485 Hotel & motel 69,236 3,889 9,241 — 82,366 Gas station & car wash 27,936 369 8,542 268 37,115 Mixed use 25,843 7,001 3,048 — 35,892 Industrial & warehouse 66,214 667 14,177 — 81,058 Other 76,956 2,076 15,242 36 94,310 Real estate—construction — — — — — Commercial business 48,270 6,331 22,721 1,063 78,385 Trade finance — — — — — Consumer and other 40,136 2,089 9,066 781 52,072 Subtotal $ 512,615 $ 26,243 $ 107,506 $ 2,148 $ 648,512 Total $ 5,221,685 $ 122,335 $ 221,875 $ 2,187 $ 5,568,082 Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Reclassification to held for sale (In thousands) Real estate - Commercial $ 235 $ — $ 685 $ 34 Consumer 1,088 — 1,088 — Total $ 1,323 $ — $ 1,773 $ 34 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 ("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 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 establishes 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 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 Company 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 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 |
Borrowings
Borrowings | 6 Months Ended |
Jun. 30, 2015 | |
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 $2.23 billion at June 30, 2015 and $2.17 billion at December 31, 2014 . 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 June 30, 2015 and December 31, 2014 , real estate secured loans with a carrying amount of approximately $2.96 billion and $2.89 billion , respectively, were pledged as collateral for borrowings from the FHLB. At June 30, 2015 and December 31, 2014 , other than FHLB stock, no securities are pledged as collateral for borrowings from the FHLB. At June 30, 2015 and December 31, 2014 , FHLB advances were $580.8 million and $481.0 million , respectively, had a weighted average interest rate of 1.05% and 1.09% , respectively, and had various maturities through June 2020 . At June 30, 2015 and December 31, 2014 , $20.8 million and $21.0 million , respectively, of the advances were putable advances with various putable dates and strike prices. The stated rate of FHLB advances as of June 30, 2015 ranged between 0.21% and 2.02% . At June 30, 2015 , the Company had a remaining borrowing capacity of $1.65 billion . At June 30, 2015 , the contractual maturities for FHLB advances were as follows: Contractual Maturities Maturity/ Put Date (In thousands) Due within one year $ 165,000 $ 185,785 Due after one year through five years 415,785 395,000 $ 580,785 $ 580,785 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 June 30, 2015 , the outstanding principal balance of the qualifying loans was $697.7 million , and the collateral value of investment securities was $1.3 million . There were no borrowings outstanding against this line as of June 30, 2015 and December 31, 2014 . |
Derivative Financial Instrument
Derivative Financial Instruments (Notes) | 6 Months Ended |
Jun. 30, 2015 | |
Derivative Financial Instruments [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Derivative Financial Instruments The Company offers a loan hedging program to certain loan customers. Through this program, the Company originates a variable rate loan with the customer. The Company and the customer will then enter into a fixed interest rate swap. Lastly, an identical offsetting swap is entered into by the Company with a correspondent bank. These “back to back” swap arrangements are intended to offset each other and allow the Company to book a variable rate loan, while providing the customer with a contract for fixed interest payments. In these arrangements, the Company’s net cash flow is equal to the interest income received from the variable rate loan originated with the customer. These customer swaps are not designated as hedging instruments and are recorded at fair value in other assets and other liabilities. The changes in fair value are recognized in the income statement in other income and fees. At June 30, 2015 , the following interest rate swaps related to our loan hedging program were outstanding: As of June 30, 2015 Interest rate swaps on loans with loan customers Notional amount (in thousands) $ 83,848 Weighted average remaining term 7.5 years Received fixed rate (weighted average) 4.44 % Pay variable rate (weighted average) 2.55 % Estimated fair value (in thousands) $ 1,127 Back to back interest rate swaps with correspondent banks Notional amount (in thousands) $ 83,848 Weighted average remaining term 7.5 years Received variable rate (weighted average) 2.55 % Pay fixed rate (weighted average) 4.44 % Estimated fair value (in thousands) $ (1,127 ) |
Subordinated Debentures
Subordinated Debentures | 6 Months Ended |
Jun. 30, 2015 | |
Subordinated Borrowings [Abstract] | |
Subordinated Debentures | Subordinated Debentures At June 30, 2015 , the Company had five wholly-owned subsidiary grantor trusts that had issued $46 million of pooled trust preferred securities. 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. The Company’s obligations under the subordinated debentures and related documents, taken together, constitute a full and unconditional guarantee by the Company 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. The Company 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. The Company 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 June 30, 2015 : Issuance Trust Issuance Date Trust Preferred Security Amount Carrying Value of Subordinated Debentures Rate Type Current Rate Maturity Date (Dollars in thousands) Nara Capital Trust III 6/5/2003 $ 5,000 $ 5,155 Variable 3.44 % 6/15/2033 Nara Statutory Trust IV 12/22/2003 5,000 5,155 Variable 3.13 % 1/7/2034 Nara Statutory Trust V 12/17/2003 10,000 10,310 Variable 3.23 % 12/17/2033 Nara Statutory Trust VI 3/22/2007 8,000 8,248 Variable 1.94 % 6/15/2037 Center Capital Trust I 12/30/2003 18,000 13,373 Variable 3.13 % 1/7/2034 TOTAL ISSUANCE $ 46,000 $ 42,241 The Company’s investment in the common trust securities of the issuer trusts of $1.5 million and $1.6 million at June 30, 2015 and December 31, 2014 , 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. |
Intangible Assets
Intangible Assets | 6 Months Ended |
Jun. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | ntangible Assets The carrying amount of the Company's goodwill as of June 30, 2015 and December 31, 2014 was $105.4 million . There was no impairment of goodwill during the three and six months periods ended June 30, 2015 and 2014 . Core deposit intangible assets are amortized over their estimated lives, which range from seven to ten years. Amortization expense related to core deposit intangible assets totaled $267 thousand and $324 thousand for the three months ended June 30, 2015 and 2014 , respectively. The amortization expense related to core deposit intangible assets totaled $534 thousand and $648 thousand for the six months ended June 30, 2015 and 2014, respectively. The following table provides information regarding the core deposit intangibles at June 30, 2015 : As of June 30, 2015 Amortization period Gross Carrying Amount Accumulated Amortization (In thousands) Core deposit—Center Financial Corporation acquisition 7 years $ 4,100 $ (2,971 ) Core deposit—PIB acquisition 7 years 603 (324 ) Core deposit—Foster acquisition 10 years 2,763 (817 ) Total $ 7,466 $ (4,112 ) Servicing assets are recognized when SBA loans are sold with servicing retained with the income statement effect recorded in gains on sales of SBA loans. Servicing assets are initially recorded at fair value based on the present value of the contractually specified servicing fee, net of servicing costs, over the estimated life of the loan, using a discount rate based on the related note rate. The Company's servicing costs approximates the industry average servicing costs of 40 basis points. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. Management periodically evaluates servicing assets for impairment based upon the fair value of the rights as compared to the carrying amount. Impairment is determined by stratifying rights into groupings based on loan type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. The changes in servicing assets for the three and six months ended June 30, 2015 and 2014 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Balance at beginning of period $ 10,529 $ 9,123 $ 10,341 $ 8,915 Additions through originations of servicing assets 1,144 858 2,189 1,672 Amortization (738 ) (957 ) (1,595 ) (1,563 ) Balance at end of period $ 10,935 $ 9,024 $ 10,935 $ 9,024 The Company utilizes the discounted cash flow method to calculate the initial excess servicing assets. The inputs used in determining the fair value of the servicing assets at June 30, 2015 and December 31, 2014 are presented below. June 30, 2015 December 31, 2014 Range Range Weighted-average discount rate 5.32% ~ 5.92% 5.44% ~ 5.74% Constant prepayment rate 7.00% ~ 11.90% 8.80% ~12.40% |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2015 | |
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 $1.8 million and $1.8 million at June 30, 2015 and December 31, 2014 , respectively, that relate primarily to uncertainties in California enterprise zone loan interest deductions. Management believes it is reasonably possible that the unrecognized tax benefits may decrease by approximately $200 thousand in the next twelve months. The statute of limitations related to the consolidated Federal income tax returns 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. The Company recognizes interest and penalties related to income tax matters in income tax expense. The Company recorded approximately $125 thousand and $96 thousand for accrued interest and penalties at June 30, 2015 and December 31, 2014 , 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 June 30, 2015 . |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Accounting guidance 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 and result in a Level 2 classification. 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 June 30, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Assets: Securities available for sale: GSE collateralized mortgage obligations $ 362,153 $ — $ 362,153 $ — GSE mortgage-backed securities 452,327 — 452,327 — Trust preferred securities 3,963 — 3,963 — Municipal bonds 39,669 — 38,523 1,146 Mutual funds 17,293 17,293 — — Fair Value Measurements at the End of the Reporting Period Using December 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Assets: Securities available for sale: GSE collateralized mortgage obligations $ 302,774 $ — $ 302,774 $ — GSE mortgage-backed securities 465,489 — 465,489 — Trust preferred securities 3,987 — 3,987 — Municipal bonds 6,930 — 5,752 1,178 Mutual funds 17,343 17,343 — — There were no transfers between Level 1, 2 and 3 during the three and six months ended June 30, 2015 and 2014. There were no gains or losses recognized in earnings during the three months ended June 30, 2015 and 2014. For the six months ended June 30, 2015 and 2014, there were $424 thousand and $0 gains in gains recorded in earnings, respectively. 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 six months ended June 30, 2015 : Six Months Ended June 30, 2015 2014 (In thousands) Beginning Balance, January 1 $ 1,178 $ 1,112 Purchases, issuances and settlements — — Amortization — — Total gains or (losses) included in earnings — — Total gains or (losses) included in other comprehensive income (32 ) 29 Ending Balance, June 30 $ 1,146 $ 1,141 Assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at the End of the Reporting Period Using June 30, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Assets: Impaired loans at fair value: Real estate loans $ 38,705 $ — $ 38,705 $ — Commercial business 7,546 — 7,546 — Trade finance 1,654 — 1,654 — Consumer 573 — 573 — Loans held for sale, net 699 — 699 — OREO 3,844 — 3,844 — Fair Value Measurements at the End of the Reporting Period Using December 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Assets: Impaired loans at fair value: Real estate loans $ 43,708 $ — $ 43,708 $ — Commercial business 4,114 — 4,114 — Trade Finance 1,883 — 1,883 — Consumer 596 — 596 — Loans held for sale, net 2,000 — 2,000 — OREO 17,985 — 17,985 — For assets measured at fair value on a non-recurring basis, the total net gains (losses), which include charge offs, recoveries, specific reserves, and gains and losses on sales recognized are summarized below: For the Three Months ended June 30, For the Six Months ended June 30, 2015 2014 2015 2014 (In thousands) Assets: Impaired loans at fair value: Real estate loans $ (89 ) $ 212 $ 445 $ 1,916 Commercial business 1,650 (242 ) 2,924 (3,416 ) Trade Finance 315 (1,537 ) 5 (2,196 ) Consumer 712 195 700 149 Loans held for sale, net 45 — 227 — OREO 325 (320 ) 814 (330 ) Fair Value of Financial Instruments Carrying amounts and estimated fair values of financial instruments, not previously presented, at June 30, 2015 and December 31, 2014 were as follows: June 30, 2015 Carrying Amount Estimated Fair Value Fair Value Measurement Using (In thousands) Financial Assets: Cash and cash equivalents $ 321,266 $ 321,266 Level 1 Loans held for sale 33,785 35,439 Level 2 Loans receivable—net 5,745,706 6,097,107 Level 3 Customers’ liabilities on acceptances 1,359 1,359 Level 2 Financial Liabilities: Noninterest bearing deposits $ 1,689,137 $ 1,689,137 Level 2 Saving and other interest bearing demand deposits 1,812,972 1,812,972 Level 2 Time deposits 2,256,181 2,262,634 Level 2 FHLB advances 580,785 582,562 Level 2 Subordinated debentures 42,241 44,036 Level 2 Bank’s liabilities on acceptances outstanding 1,359 1,359 Level 2 December 31, 2014 Carrying Amount Estimated Fair Value Fair Value Measurement Using (In thousands) Financial Assets: Cash and cash equivalents $ 462,160 $ 462,160 Level 1 Loans held for sale 28,311 29,626 Level 2 Loans receivable—net 5,497,434 5,826,924 Level 3 Customers’ liabilities on acceptances 1,889 1,889 Level 2 Financial Liabilities: Noninterest bearing deposits $ 1,543,018 $ 1,543,018 Level 2 Saving and other interest bearing demand deposits 1,862,060 1,862,060 Level 2 Time deposits 2,288,374 2,292,831 Level 2 FHLB advances 480,975 481,290 Level 2 Subordinated debentures 42,158 43,987 Level 2 Bank’s liabilities on acceptances outstanding 1,889 1,889 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
Stockholders' Equity | 6 Months Ended |
Jun. 30, 2015 | |
Stockholders’ Equity and Regulatory Matters [Abstract] | |
Stockholders’ Equity | Stockholders’ Equity 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. The Company assumed certain warrants (related to the TARP Capital Purchase Plan) to purchase shares of the Company's common stock. On May 20, 2015, the U.S. Treasury Department completed an auction to sell certain of its warrant positions, and the Company submitted the winning bid to repurchase an outstanding warrant to purchase 350,767 shares of the Company's common stock. The Company repurchased this warrant for $1.2 million . As of June 30, 2015 , the U.S. Treasury Department held one remaining warrant for the purchase of 19,014 shares of the Company's common stock. The Company's Board of Directors declared quarterly dividends of $0.11 per common share for the second quarter of 2015 and $0.075 per common share for the second quarter of 2014. The following table presents the components of accumulated other comprehensive (loss) income, net at June 30, 2015 and December 31, 2014 : June 30, 2015 December 31, 2014 (In thousands) Net unrealized (loss) gain on securities available for sale $ (445 ) $ 1,631 Net unrealized gain on interest-only strips 70 74 Total accumulated other comprehensive (loss) income, net $ (375 ) $ 1,705 |
Regulatory Matters
Regulatory Matters | 6 Months Ended |
Jun. 30, 2015 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | Regulatory Matters 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 growth 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. Prompt corrective action provisions are not applicable to bank holding companies. In July, 2013, the federal bank regulatory agencies adopted final regulations, which revised their risk-based and leverage capital requirements for banking organizations to meet requirements of Dodd-Frank and to implement Basel III international agreements reached by the Basel Committee. The final rules began for the Company and the Bank on January 1, 2015 and are subject to a phase-in period through January 1, 2019. The final rules that had an impact on the Company and the Bank include: • An increase in the minimum Tier 1 capital ratio from 4.00% to 6.00% of risk-weighted assets; • A new category and a required 4.50% of risk-weighted assets ratio is established for “common equity Tier 1” as a subset of Tier 1 capital limited to common equity; • A minimum non-risk-based leverage ratio is set at 4.00%, eliminating a 3.00% exception for higher rated banks; • Changes in the permitted composition of Tier 1 capital to exclude trust preferred securities, mortgage servicing rights and certain deferred tax assets and include unrealized gains and losses on available for sale debt and equity securities; • The risk-weights of certain assets for purposes of calculating the risk-based capital ratios are changed for high volatility commercial real estate acquisition, development and construction loans, certain past due non-residential mortgage loans and certain mortgage-backed and other securities exposures; and • A new additional capital conservation buffer of 2.5% of risk weighted assets over each of the required capital ratios will be phased in from 2016 to 2019 and must be met to avoid limitations on the ability of the B ank to pay dividends, repurchase shares or pay discretionary bonuses. Management believes that the capital ratios for the Company and the Bank under Basel III will continue to exceed the well capitalized minimum capital requirements. As of June 30, 2015 , the ratios for the Company and the Bank are sufficient to meet the fully phased-in conservation buffer. As of June 30, 2015 and December 31, 2014 , 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 Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of June 30, 2015 Common equity tier 1 capital (to risk weighted assets): Company $ 802,821 12.58 % $ 287,124 4.50 % N/A N/A Bank $ 833,935 13.08 % $ 286,883 4.50 % $ 414,387 6.50 % Total capital (to risk-weighted assets): Company $ 915,181 14.34 % $ 510,443 8.00 % N/A N/A Bank $ 905,479 14.20 % $ 510,014 8.00 % $ 637,518 10.00 % Tier I capital (to risk-weighted assets): Company $ 843,637 13.22 % $ 382,832 6.00 % N/A N/A Bank $ 833,935 13.08 % $ 382,511 6.00 % $ 510,014 8.00 % Tier I capital (to average assets): Company $ 843,637 11.80 % $ 286,052 4.00 % N/A N/A Bank $ 833,935 11.67 % $ 285,903 4.00 % $ 357,379 5.00 % Actual Required Required Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of December 31, 2014 Total capital (to risk-weighted assets): Company $ 881,794 14.80 % $ 476,490 8.00 % N/A N/A Bank $ 869,343 14.61 % $ 476,101 8.00 % $ 595,126 10.00 % Tier I capital (to risk-weighted assets): Company $ 812,464 13.64 % $ 238,245 4.00 % N/A N/A Bank $ 800,013 13.44 % $ 238,050 4.00 % $ 357,076 6.00 % Tier I capital (to average assets): Company $ 812,464 11.62 % $ 279,709 4.00 % N/A N/A Bank $ 800,013 11.45 % $ 279,585 4.00 % $ 349,481 5.00 % |
Basis of Presentation Basis of
Basis of Presentation Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
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 June 30, 2015 and the results of operations for the three and six months then ended. Certain reclassifications have been made to prior period amounts to conform to the current year presentation. 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, and the valuation of servicing assets. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements: FASB ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). This update to the ASC is the culmination of efforts by the FASB and the International Accounting Standards Board (IASB) to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards (IFRS). The core principal of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance in ASU 2014-09 describes a 5-step process entities can apply to achieve the core principle of revenue recognition and requires disclosures sufficient to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers and the significant judgments used in determining that information. The amendments in ASU 2014-9 are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period and early application is not allowed. The adoption of ASU 2014-9 is not expected to have a significant impact on the Company's financial statements. FASB ASU No. 2015-10, Technical Corrections and Improvements. The amendments in ASU 2015-10 represent changes to clarify the Codification, correct unintended application of guidance, or make minor improvements to the Codification that are not expected to have significant effect on current accounting practice or create a significant administrative cost to most entities. The amendments that require transition guidance are effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2015. The adoption of ASU 2015-10 is not expected to have a significant impact on the Company's 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) | 6 Months Ended |
Jun. 30, 2015 | |
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 and nine months ended March 31, 2015 and 2014, as if the Foster and PIB acquisitions had occurred on January 1, 2013: Three Months Ended March 31, Three Months Ended March 31, 2015 2.014 2015 2.014 (In thousands, except share data) Net interest income $ 67,907 $ 66,353 $ 200,363 $ 196,861 Net income $ 21,420 $ 22,960 $ 65,928 $ 60,084 Preferred stock dividends and accretion of preferred stock discount — — — — Net income (loss) available to common stockholders $ — $ — $ — $ — Pro forma earnings per share: Basic $ 0.27 $ 0.29 $ 0.83 $ 0.76 Diluted $ 0.27 $ 0.29 $ 0.83 $ 0.75 |
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 $ 2,609 Cash paid for the redemption of Foster common stock 2,042 Liability for unredeemed Foster common stock 116 Total consideration paid $ 4,767 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 (5,857 ) Total identifiable net assets $ (10,758 ) 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 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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 Plan and 2006 Plan for the six months ended June 30, 2015 : Number of Shares Weighted- Average Exercise Price Per Share Weighted- Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding - January 1, 2015 591,652 $ 19.00 Granted — — Exercised — — Expired (3,902 ) 25.94 Forfeited — — Outstanding - June 30, 2015 587,750 $ 18.93 2.22 $ — Options exercisable - June 30, 2015 417,750 $ 20.19 2.22 $ — |
Summary of Restricted and Performance Unit Activity Under the Plan | The following is a summary of restricted and performance unit activity under the 2007 Plan and 2006 Plan for the six months ended June 30, 2015 : Number of Shares Weighted- Average Grant Date Fair Value Outstanding - January 1, 2015 175,668 $ 13.52 Granted 15,000 14.11 Vested (53,083 ) 12.20 Forfeited (2,288 ) 14.38 Outstanding - June 30, 2015 135,297 $ 14.07 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Computation of basic and diluted EPS | The following tables show the computation of basic and diluted EPS for the three months and six months ended June 30, 2015 and 2014 . Three Months Ended June 30, 2015 2014 Net income (Numerator) Weighted-Average Shares (Denominator) Per Share (Amount) Net income (Numerator) Weighted-Average Shares Per Share (Amount) (In thousands, except share and per share data) Basic EPS - common stock $ 22,941 79,549,097 $ 0.29 $ 22,312 79,490,767 $ 0.28 Effect of dilutive securities: Stock options and performance units 20,778 40,119 Common stock warrants 38,530 83,160 Diluted EPS - common stock $ 22,941 79,608,405 $ 0.29 $ 22,312 79,614,046 $ 0.28 Six Months Ended June 30, 2015 2014 Net income available to common stockholders (Numerator) Weighted-Average Shares Per Share (Amount) Net income available to common stockholders (Numerator) Weighted-Average Shares Per Share (Amount) (In thousands, except share and per share data) Basic EPS - common stock $ 44,299 79,539,789 $ 0.56 $ 44,508 79,481,359 $ 0.56 Effect of Dilutive Securities: Stock Options and Performance Units 24,155 49,132 Common stock warrants 46,712 87,955 Diluted EPS - common stock $ 44,299 79,610,656 $ 0.56 $ 44,508 79,618,446 $ 0.56 |
Securities Available for Sale (
Securities Available for Sale (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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 June 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (In thousands) Debt securities: U.S. Government agency and U.S. Government sponsored enterprises Collateralized mortgage obligations $ 363,759 $ 1,774 $ (3,380 ) $ 362,153 Mortgage-backed securities 450,974 4,211 (2,858 ) 452,327 Trust preferred securities 4,538 — (575 ) 3,963 Municipal bonds 39,672 438 (441 ) 39,669 Total debt securities 858,943 6,423 (7,254 ) 858,112 Mutual funds 17,425 — (132 ) 17,293 $ 876,368 $ 6,423 $ (7,386 ) $ 875,405 At December 31, 2014 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (In thousands) Debt securities: U.S. Government agency and U.S. Government sponsored enterprises Collateralized mortgage obligations $ 304,947 $ 1,376 $ (3,549 ) $ 302,774 Mortgage-backed securities 460,487 6,528 (1,526 ) 465,489 Trust preferred securities 4,531 — (544 ) 3,987 Municipal bonds 6,487 443 — 6,930 Total debt securities 776,452 8,347 (5,619 ) 779,180 Mutual funds 17,425 — (82 ) 17,343 $ 793,877 $ 8,347 $ (5,701 ) $ 796,523 |
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 June 30, Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Proceeds $ — $ — $ 22,510 $ — Gross gains — — 424 — Gross losses — — — — |
Investments Classified by Contractual Maturity Date | The amortized cost and estimated fair value of debt securities at June 30, 2015 , 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 Cost Estimated Fair Value (In thousands) Available for sale: Due within one year $ 340 $ 340 Due after one year through five years 882 959 Due after five years through ten years 23,894 24,024 Due after ten years 19,094 18,309 U.S. Government agency and U.S. Government sponsored enterprises Collateralized mortgage obligations 363,759 362,153 Mortgage-backed securities 450,974 452,327 Mutual funds 17,425 17,293 $ 876,368 $ 875,405 |
Schedule of Unrealized Loss on Investments | The following tables show 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. As of June 30, 2015 Less than 12 months 12 months or longer Total Description of Securities Number of Securities Fair Value Gross Unrealized Losses Number of Securities Fair Value Gross Unrealized Losses Number of Securities Fair Value Gross Unrealized Losses (In thousands) Collateralized mortgage obligations* 12 $ 102,215 $ (1,000 ) 9 $ 84,821 $ (2,380 ) 21 $ 187,036 $ (3,380 ) Mortgage-backed securities* 20 182,162 (1,236 ) 3 28,929 (1,622 ) 23 211,091 (2,858 ) Trust preferred securities — — — 1 3,963 (575 ) 1 3,963 (575 ) Municipal bonds 63 29,867 (441 ) — — — 63 29,867 (441 ) Mutual funds 1 13,293 (132 ) — — — 1 13,293 (132 ) 96 $ 327,537 $ (2,809 ) 13 $ 117,713 $ (4,577 ) 109 $ 445,250 $ (7,386 ) * Investments in U.S. Government agency and U.S. Government sponsored enterprises As of December 31, 2014 Less than 12 months 12 months or longer Total Description of Securities Number of Securities Fair Value Gross Unrealized Losses Number of Securities Fair Value Gross Unrealized Losses Number of Securities Fair Value Gross Unrealized Losses (In thousands) Collateralized mortgage obligations* 7 $ 71,189 $ (507 ) 13 $ 133,563 $ (3,042 ) 20 $ 204,752 $ (3,549 ) Mortgage-backed securities* 7 38,133 (139 ) 6 62,036 (1,387 ) 13 100,169 (1,526 ) Trust Preferred securities — — — 1 3,988 (544 ) 1 3,988 (544 ) Mutual funds — — — 1 13,343 (82 ) 1 13,343 (82 ) 14 $ 109,322 $ (646 ) 21 $ 212,930 $ (5,055 ) 35 $ 322,252 $ (5,701 ) * Investments in U.S. Government agency and U.S. Government sponsored enterprises |
Loans Receivable and Allowanc28
Loans Receivable and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Summary of Loans Receivable by Major Category | The following is a summary of loans receivable by major category: June 30, 2015 December 31, 2014 (In thousands) Loan portfolio composition Real estate loans: Residential $ 36,706 $ 21,415 Commercial & industrial 4,503,794 4,324,349 Construction 104,901 94,086 Total real estate loans 4,645,401 4,439,850 Commercial business 970,787 903,621 Trade finance 114,927 134,762 Consumer and other 87,707 89,849 Total loans outstanding 5,818,822 5,568,082 Less: deferred loan fees (2,998 ) (2,890 ) Loans receivable 5,815,824 5,565,192 Less: allowance for loan losses (70,118 ) (67,758 ) Loans receivable, net of allowance for loan losses $ 5,745,706 $ 5,497,434 |
Loans and Leases Acquired, Accretable Yield Movement Schedule | The following table presents changes in the accretable discount on the ACILs for the three and six months ended June 30, 2015 and 2014 : Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Balance at beginning of period $ 22,645 $ 32,583 $ 24,051 $ 47,398 Accretion (3,096 ) (4,197 ) (6,232 ) (9,064 ) Changes in expected cash flows 1,840 (102 ) 3,570 (10,050 ) Balance at end of period $ 21,389 $ 28,284 $ 21,389 $ 28,284 |
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 and six months ended June 30, 2015 and 2014 : 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 June 30, 2015 Balance, beginning of period $ 35,772 $ 16,168 $ 3,041 $ 416 $ 13,724 $ 422 $ — $ 51 $ 69,594 Provision (credit) for loan losses 1,224 (751 ) (522 ) 521 280 240 — 8 1,000 Loans charged off (61 ) (448 ) (759 ) — (13 ) (170 ) — — (1,451 ) Recoveries of charge offs 61 809 — 92 — 8 — 5 975 Balance, end of period $ 36,996 $ 15,778 $ 1,760 $ 1,029 $ 13,991 $ 500 $ — $ 64 $ 70,118 Six Months Ended June 30, 2015 Balance, beginning of period $ 38,775 $ 15,986 $ 3,456 $ 427 $ 8,573 $ 485 $ — $ 56 $ 67,758 Provision (credit) for loan losses (2,398 ) (773 ) (709 ) 523 5,590 262 — 5 2,500 Loans charged off (242 ) (899 ) (987 ) (15 ) (172 ) (257 ) — (4 ) (2,576 ) Recoveries of charge offs 861 1,464 — 94 0 10 — 7 2,436 Balance, end of period $ 36,996 $ 15,778 $ 1,760 $ 1,029 $ 13,991 $ 500 $ — $ 64 $ 70,118 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 June 30, 2014 Balance, beginning of period $ 38,586 $ 16,208 $ 2,944 $ 467 $ 6,838 $ 593 $ — $ 63 $ 65,699 Provision (credit) for loan losses 1,066 (336 ) 1,624 (69 ) 622 88 — 1 2,996 Loans charged off (726 ) (1,794 ) — (18 ) (188 ) (45 ) — — (2,771 ) Recoveries of charge offs 132 581 — 211 17 3 — 2 946 Balance, end of period $ 39,058 $ 14,659 $ 4,568 $ 591 $ 7,289 $ 639 $ — $ 66 $ 66,870 Six Months Ended June 30, 2014 Balance, beginning of period $ 40,068 $ 16,796 $ 2,653 $ 461 $ 6,482 $ 796 $ — $ 64 $ 67,320 Provision (credit) for loan losses (348 ) 2,211 1,972 (62 ) 1,073 1,099 — 77 6,022 Loans charged off (813 ) (5,519 ) (57 ) (19 ) (283 ) (1,265 ) — (78 ) (8,034 ) Recoveries of charge offs 151 1,171 — 211 17 9 — 3 1,562 Balance, end of period $ 39,058 $ 14,659 $ 4,568 $ 591 $ 7,289 $ 639 $ — $ 66 $ 66,870 The following tables disaggregate the allowance for loan losses and the loans outstanding by impairment methodology at June 30, 2015 and December 31, 2014 : June 30, 2015 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 $ 1,783 $ 4,383 $ 320 $ 615 $ 591 $ 373 $ — $ — $ 8,065 Collectively evaluated for impairment 35,213 11,395 1,440 414 753 127 — 64 49,406 ACILs — — — — 12,647 — — — 12,647 Total $ 36,996 $ 15,778 $ 1,760 $ 1,029 $ 13,991 $ 500 $ — $ 64 $ 70,118 Loans outstanding: Individually evaluated for impairment $ 54,022 $ 36,403 $ 6,670 $ 1,067 $ 18,323 $ 1,641 $ — $ 572 $ 118,698 Collectively evaluated for impairment 4,171,701 875,857 108,257 41,031 313,877 30,425 — 23,323 5,564,471 ACILs — — — — 87,478 26,461 — 21,714 135,653 Total $ 4,225,723 $ 912,260 $ 114,927 $ 42,098 $ 419,678 $ 58,527 $ — $ 45,609 $ 5,818,822 December 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 $ 1,940 $ 6,929 $ 1,312 $ — $ 434 $ 307 $ — $ — $ 10,922 Collectively evaluated for impairment 36,835 9,057 2,144 427 792 178 — 56 49,489 ACILs — — — — 7,347 — — — 7,347 Total $ 38,775 $ 15,986 $ 3,456 $ 427 $ 8,573 $ 485 $ — $ 56 $ 67,758 Loans outstanding: Individually evaluated for impairment $ 57,506 $ 40,829 $ 5,936 $ 465 $ 20,035 $ 1,778 $ — $ 596 $ 127,145 Collectively evaluated for impairment 3,864,289 784,407 128,826 37,312 397,147 43,460 — 25,859 5,281,300 ACILs — — — — 100,873 33,147 — 25,617 159,637 Total $ 3,921,795 $ 825,236 $ 134,762 $ 37,777 $ 518,055 $ 78,385 $ — $ 52,072 $ 5,568,082 |
Impaired Financing Receivables | The following tables detail impaired loans (Legacy and APLs that became impaired subsequent to being acquired) as of June 30, 2015 and December 31, 2014 and for the three and six months ended June 30, 2015 and 2014 and for the year ended December 31, 2014 . Loans with no related allowance for loan losses are believed by management to have adequate collateral securing their carrying value. As of June 30, 2015 For the Six Months Ended June 30, 2015 For the Three Months Ended June 30, 2015 Total Impaired Loans Recorded Investment* Unpaid Contractual Principal Balance Related Allowance Average Recorded Investment* Interest Income Recognized during Impairment Average Recorded Investment* Interest Income Recognized during Impairment (In thousands) With related allowance: Real estate—residential $ — $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 4,419 4,615 243 4,411 88 4,165 44 Hotel & motel 11,416 11,422 326 12,134 258 11,500 129 Gas station & car wash 1,719 1,928 341 1,479 29 1,266 15 Mixed use 481 497 9 481 481 Industrial & warehouse 4,434 4,434 12 4,489 84 5,678 42 Other 8,779 9,665 1,443 8,823 176 8,344 88 Real estate—construction — — — — — — — Commercial business 29,648 29,961 4,756 32,453 579 30,030 286 Trade finance 5,016 5,016 320 4,678 108 4,990 54 Consumer and other 615 615 615 209 — 314 — $ 66,527 $ 68,153 $ 8,065 $ 69,157 $ 1,322 $ 66,768 $ 658 With no related allowance: Real estate—residential $ — $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 9,197 10,932 — 10,260 167 9,536 84 Hotel & motel 6,522 8,600 — 6,122 7 6,187 3 Gas station & car wash 3,682 6,205 — 3,391 22 3,739 11 Mixed use 3,482 3,876 — 2,356 21 2,740 10 Industrial & warehouse 9,264 12,932 — 11,033 154 9,362 77 Other 8,950 10,675 — 8,730 77 9,554 40 Real estate—construction — — — 1,000 — 740 — Commercial business 8,395 10,562 — 8,104 81 9,502 41 Trade finance 1,654 5,000 — 1,643 — 1,524 — Consumer and other 1,025 1,094 — 1,064 13 1,066 7 $ 52,171 $ 69,876 $ — $ 53,703 $ 542 $ 53,950 $ 273 Total $ 118,698 $ 138,029 $ 8,065 $ 122,860 $ 1,864 $ 120,718 $ 931 * Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. For the Six Months Ended June 30, 2014 For the Three Months Ended June 30, 2014 Total Impaired Loans Average Recorded Investment* Interest Income Recognized during Impairment Average Recorded Investment* Interest Income Recognized during Impairment (In thousands) With related allowance: Real estate—residential $ — $ — $ — $ — Real estate—commercial Retail 5,238 46 4,198 27 Hotel & motel 11,771 266 11,696 133 Gas station & car wash 2,774 38 2,589 19 Mixed use 1,049 20 1,109 10 Industrial & warehouse 9,104 151 7,456 76 Other 9,353 166 8,898 82 Real estate—construction — — — — Commercial business 30,875 594 28,981 310 Trade finance 6,526 99 6,990 51 Consumer and other 178 — — — $ 76,868 $ 1,380 $ 71,917 $ 708 With no related allowance: Real estate—residential $ — $ — $ — $ — Real estate—commercial Retail 6,875 124 8,300 62 Hotel & motel 6,480 — 6,468 — Gas station & car wash 4,820 — 4,808 — Mixed use 1,143 — 1,292 — Industrial & warehouse 7,528 160 9,389 83 Other 4,401 56 5,828 30 Real estate—construction 1,606 42 1,596 21 Commercial business 9,345 138 11,296 75 Trade finance 453 — 634 — Consumer and other 1,234 15 1,468 8 $ 43,885 $ 535 $ 51,079 $ 279 Total $ 120,753 $ 1,915 $ 122,996 $ 987 * Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. As of June 30, 2015 For the Six Months Ended June 30, 2015 For the Three Months Ended June 30, 2015 Impaired APLs Recorded Investment* Unpaid Contractual Principal Balance Related Allowance Average Recorded Investment* Interest Income Recognized during Impairment Average Recorded Investment* Interest Income Recognized during Impairment (In thousands) With related allowance: Real estate—residential $ — $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 2,579 2,568 185 2,278 74 2,591 37 Hotel & motel — — — — — — — Gas station & car wash 1,719 1,928 341 1,398 29 1,215 15 Mixed use 352 348 2 352 — 352 — Industrial & warehouse — — — 120 — 180 — Other 1,288 1,575 62 1,123 8 803 4 Real estate—construction — — — — — — — Commercial business 736 884 373 721 9 697 4 Trade finance — — — — — — — Consumer and other — — — 1 — 1 — $ 6,674 $ 7,303 $ 963 $ 5,993 $ 120 $ 5,839 $ 60 With no related allowance: Real estate—residential $ — $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 1,370 1,479 — 2,037 7 1,476 3 Hotel & motel 5,730 7,779 — 5,613 7 5,624 3 Gas station & car wash — — — 347 — 516 — Mixed use 279 444 — 167 2 251 1 Industrial & warehouse 1,125 1,221 — 1,362 2 1,174 1 Other 3,881 4,906 — 4,287 21 4,426 10 Real estate—construction — — — — — — — Commercial business 904 1,664 — 982 33 968 17 Trade finance — — — — — — — Consumer and other 573 642 — 606 4 611 2 $ 13,862 $ 18,135 $ — $ 15,401 $ 76 $ 15,046 $ 37 Total $ 20,536 $ 25,438 $ 963 $ 21,394 $ 196 $ 20,885 $ 97 * Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. For the Six Months Ended June 30, 2014 For the Three Months Ended June 30, 2014 Impaired APLs Average Recorded Investment* Interest Income Recognized during Impairment Average Recorded Investment* Interest Income Recognized during Impairment (In thousands) With related allowance: Real estate—residential $ — $ — $ — $ — Real estate—commercial Retail 264 — 201 — Hotel & motel — — — — Gas station & car wash 1,791 30 2,289 15 Mixed use 118 — 177 — Industrial & warehouse 1,709 — — — Other 1,054 4 899 2 Real estate—construction — — — — Commercial business 1,240 4 868 3 Trade finance — — — — Consumer and other — — — — $ 6,176 $ 38 $ 4,434 $ 20 With no related allowance: Real estate—residential $ — $ — $ — $ — Real estate—commercial Retail 1,549 15 1,702 7 Hotel & motel 6,379 — 6,347 — Gas station & car wash 1,029 — 736 — Mixed use 307 — 460 — Industrial & warehouse 3,281 5 3,981 2 Other 3,396 20 4,526 12 Real estate—construction — — — — Commercial business 1,505 10 1,853 7 Trade finance — — — — Consumer and other 887 4 947 2 $ 18,333 $ 54 $ 20,552 $ 30 Total $ 24,509 $ 92 $ 24,986 $ 50 * Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. As of December 31, 2014 For the Year Ended December 31, 2014 Total Impaired Loans 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 4,902 5,288 390 5,205 127 Hotel & motel 13,401 14,548 469 12,053 532 Gas station & car wash 1,904 3,507 379 2,440 60 Mixed use 482 497 13 823 — Industrial & warehouse 2,111 2,126 13 7,309 119 Other 9,781 10,389 1,110 9,709 355 Real estate—construction — — — — — Commercial business 37,300 38,730 7,236 32,798 1,502 Trade finance 4,053 11,310 1,312 6,647 — Consumer and other — — — 114 — $ 73,934 $ 86,395 $ 10,922 $ 77,098 $ 2,695 With no related allowance: Real estate—residential $ — $ — $ — $ — $ — Real estate—commercial Retail 11,708 13,492 — 8,462 358 Hotel & motel 5,992 8,728 — 6,655 — Gas station & car wash 2,693 4,065 — 4,139 44 Mixed use 1,589 1,697 — 1,415 39 Industrial & warehouse 14,374 17,940 — 9,311 494 Other 7,083 9,886 — 5,118 93 Real estate—construction 1,521 1,545 — 1,583 — Commercial business 5,307 6,880 — 8,349 50 Trade finance 1,883 5,000 — 724 — Consumer and other 1,061 1,118 — 1,168 28 $ 53,211 $ 70,351 $ — $ 46,924 $ 1,106 Total $ 127,145 $ 156,746 $ 10,922 $ 124,022 $ 3,801 * Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. As of December 31, 2014 For the Year Ended December 31, 2014 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 1,653 1,638 36 838 97 Hotel & motel — — — — — Gas station & car wash 1,762 1,953 379 1,783 60 Mixed use 352 348 2 212 — Industrial & warehouse — — — 1,026 — Other 1,763 2,016 17 1,134 5 Real estate—construction — — — — — Commercial business 769 928 307 1,090 15 Trade finance — — — — — Consumer and other — — — — — $ 6,299 $ 6,883 $ 741 $ 6,083 $ 177 With no related allowance: Real estate—residential $ — $ — $ — $ — $ — Real estate—commercial Retail 3,158 3,376 — 1,869 27 Hotel & motel 5,591 7,493 — 6,067 — Gas station & car wash 9 297 — 621 — Mixed use — — — 275 — Industrial & warehouse 1,737 1,954 — 2,673 39 Other 4,009 5,174 — 3,798 41 Real estate—construction — — — — — Commercial business 1,009 1,758 — 1,321 4 Trade finance — — — — — Consumer and other 596 652 — 772 8 $ 16,109 $ 20,704 $ — $ 17,396 $ 119 Total $ 22,408 $ 27,587 $ 741 $ 23,479 $ 296 * Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. The recorded investment in individually impaired loans was as follows: June 30, 2015 December 31, 2014 (In thousands) With allocated allowance Without charge off $ 65,343 $ 67,352 With charge off 1,184 6,582 With no allocated allowance Without charge off 48,001 46,885 With charge off 4,170 6,326 Allowance on impaired loans (8,065 ) (10,922 ) Impaired loans, net of allowance $ 110,633 $ 116,223 |
Aging of Past Due Loans | The following tables present the aging of past due loans as of June 30, 2015 and December 31, 2014 by class of loans: As of June 30, 2015 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 901 225 — 1,126 2,558 3,684 Hotel & motel — — — — 945 945 Gas station & car wash — 567 333 900 2,971 3,871 Mixed use — 434 — 434 2,552 2,986 Industrial & warehouse — 113 — 113 1,220 1,333 Other — — — — 2,831 2,831 Real estate—construction — — — — — — Commercial business 594 207 — 801 9,431 10,232 Trade finance 1,933 — — 1,933 1,954 3,887 Consumer and other 29 — — 29 870 899 Subtotal $ 3,457 $ 1,546 $ 333 $ 5,336 $ 25,332 $ 30,668 Acquired Loans: (1) Real estate—residential $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 1,442 68 — 1,510 1,334 2,844 Hotel & motel — 286 — 286 5,448 5,734 Gas station & car wash — — — — 695 695 Mixed use — 47 — 47 567 614 Industrial & warehouse — — — — 1,053 1,053 Other — — — — 3,748 3,748 Real estate—construction 105 228 — 333 646 979 Commercial business — — — — — — Trade finance — — — — — — Consumer and other 6 — — 6 858 864 Subtotal $ 1,553 $ 629 $ — $ 2,182 $ 14,349 $ 16,531 TOTAL $ 5,010 $ 2,175 $ 333 $ 7,518 $ 39,681 $ 47,199 (1) The Acquired Loans exclude ACILs. (2) Nonaccrual loans exclude the guaranteed portion of delinquent SBA loans that are in liquidation totaling $22.6 million . As of December 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 201 351 — 552 4,586 5,138 Hotel & motel 299 — — 299 2,336 2,635 Gas station & car wash — — — — 2,105 2,105 Mixed use 437 — — 437 930 1,367 Industrial & warehouse — 208 — 208 2,335 2,543 Other 455 524 — 979 2,150 3,129 Real estate—construction — — — — 1,521 1,521 Commercial business 655 729 — 1,384 9,640 11,024 Trade finance — — — — 3,194 3,194 Consumer and other 36 — — 36 18 54 Subtotal $ 2,083 $ 1,812 $ — $ 3,895 $ 28,815 $ 32,710 Acquired Loans: (1) Real estate—residential $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 1,402 — — 1,402 2,792 4,194 Hotel & motel — — — — 5,591 5,591 Gas station & car wash — — — — 736 736 Mixed use 345 — — 345 352 697 Industrial & warehouse — — 361 361 1,185 1,546 Other — — — — 4,370 4,370 Real estate—construction — — — — — — Commercial business 36 347 — 383 1,468 1,851 Trade finance — — — — — — Consumer and other 23 90 — 113 1,044 1,157 Subtotal $ 1,806 $ 437 $ 361 $ 2,604 $ 17,538 $ 20,142 TOTAL $ 3,889 $ 2,249 $ 361 $ 6,499 $ 46,353 $ 52,852 (1) The Acquired Loans exclude ACILs. (2) Nonaccrual loans exclude guaranteed portion of delinquent SBA loans that are in liquidation totaling $28.9 million . |
Risk Category of Loans by Class of Loans | The following tables present the risk rating for Legacy Loans and Acquired Loans as of June 30, 2015 and December 31, 2014 by class of loans: As of June 30, 2015 Pass Special Mention Substandard Doubtful/Loss Total (In thousands) Legacy Loans: Real estate—residential $ 35,985 $ — $ — $ — $ 35,985 Real estate—commercial Retail 975,319 23,326 14,022 — 1,012,667 Hotel & motel 889,763 113 6,929 — 896,805 Gas station & car wash 573,688 8,814 4,865 — 587,367 Mixed use 303,047 787 3,430 — 307,264 Industrial & warehouse 422,067 8,508 9,577 — 440,152 Other 796,285 29,621 14,676 — 840,582 Real estate—construction 104,901 — — — 104,901 Commercial business 853,739 20,092 38,219 210 912,260 Trade finance 93,430 11,458 10,039 — 114,927 Consumer and other 40,765 6 1,317 10 42,098 Subtotal $ 5,088,989 $ 102,725 $ 103,074 $ 220 $ 5,295,008 Acquired Loans: Real estate—residential $ 436 $ 285 $ — $ — $ 721 Real estate—commercial Retail 141,896 3,617 17,990 — 163,503 Hotel & motel 37,499 6,214 13,112 — 56,825 Gas station & car wash 25,251 381 7,089 — 32,721 Mixed use 18,681 11,626 2,825 — 33,132 Industrial & warehouse 45,691 1,237 10,694 — 57,622 Other 61,192 529 13,016 417 75,154 Real estate—construction — — — — — Commercial business 38,317 1,547 18,142 521 58,527 Trade finance — — — — — Consumer and other 35,686 1,634 7,394 895 45,609 Subtotal $ 404,649 $ 27,070 $ 90,262 $ 1,833 $ 523,814 Total $ 5,493,638 $ 129,795 $ 193,336 $ 2,053 $ 5,818,822 As of December 31, 2014 Pass Special Mention Substandard Doubtful/Loss Total (In thousands) Legacy Loans: Real estate—residential $ 20,586 $ — $ — $ — $ 20,586 Real estate—commercial Retail 1,015,195 20,177 14,805 — 1,050,177 Hotel & motel 784,586 114 7,746 — 792,446 Gas station & car wash 553,901 — 8,857 — 562,758 Mixed use 288,409 1,147 2,187 — 291,743 Industrial & warehouse 347,805 9,181 12,313 — 369,299 Other 699,644 28,044 13,013 — 740,701 Real estate—construction 92,564 — 1,521 — 94,085 Commercial business 765,280 18,792 41,138 26 825,236 Trade finance 103,844 18,599 12,319 — 134,762 Consumer and other 37,256 38 470 13 37,777 Subtotal $ 4,709,070 $ 96,092 $ 114,369 $ 39 $ 4,919,570 Acquired Loans: Real estate—residential $ 539 $ 290 $ — $ — $ 829 Real estate—commercial Retail 157,485 3,531 25,469 — 186,485 Hotel & motel 69,236 3,889 9,241 — 82,366 Gas station & car wash 27,936 369 8,542 268 37,115 Mixed use 25,843 7,001 3,048 — 35,892 Industrial & warehouse 66,214 667 14,177 — 81,058 Other 76,956 2,076 15,242 36 94,310 Real estate—construction — — — — — Commercial business 48,270 6,331 22,721 1,063 78,385 Trade finance — — — — — Consumer and other 40,136 2,089 9,066 781 52,072 Subtotal $ 512,615 $ 26,243 $ 107,506 $ 2,148 $ 648,512 Total $ 5,221,685 $ 122,335 $ 221,875 $ 2,187 $ 5,568,082 |
Loans Sold From Loans Held For Investment | Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Reclassification to held for sale (In thousands) Real estate - Commercial $ 235 $ — $ 685 $ 34 Consumer 1,088 — 1,088 — Total $ 1,323 $ — $ 1,773 $ 34 |
Allowance for Loan Losses and Impaired Loans, Qualitative and Quantitative Analysis | The following table presents loans by portfolio segment and impairment method at June 30, 2015 and December 31, 2014 : As of June 30, 2015 Real Estate— Residential Real Estate— Commercial Real Estate— Construction Commercial Business Trade Finance Consumer and Other Total (In thousands) Impaired loans (gross carrying value) $ — $ 72,345 $ — $ 38,044 $ 6,670 $ 1,639 $ 118,698 Specific allowance $ — $ 2,374 $ — $ 4,756 $ 320 $ 615 $ 8,065 Loss coverage ratio N/A 3.3 % N/A 12.5 % 4.8 % 37.5 % 6.8 % Non-impaired loans $ 36,706 $ 4,431,449 $ 104,901 $ 932,743 $ 108,257 $ 86,068 $ 5,700,124 General allowance $ 247 $ 47,773 $ 593 $ 11,522 $ 1,440 $ 478 $ 62,053 Loss coverage ratio 0.7 % 1.1 % 0.6 % 1.2 % 1.3 % 0.6 % 1.1 % Total loans $ 36,706 $ 4,503,794 $ 104,901 $ 970,787 $ 114,927 $ 87,707 $ 5,818,822 Total allowance for loan losses $ 247 $ 50,147 $ 593 $ 16,278 $ 1,760 $ 1,093 $ 70,118 Loss coverage ratio 0.7 % 1.1 % 0.6 % 1.7 % 1.5 % 1.2 % 1.2 % As of December 31, 2014 Real Estate— Residential Real Estate— Commercial Real Estate— Construction Commercial Business Trade Finance Consumer and Other Total (In thousands) Impaired loans (gross carrying value) $ — $ 76,020 $ 1,521 $ 42,607 $ 5,936 $ 1,061 $ 127,145 Specific allowance $ — $ 2,374 $ — $ 7,236 $ 1,312 $ — $ 10,922 Loss coverage ratio N/A 3.1 % 0.0 % 17.0 % 22.1 % 0.0 % 8.6 % Non-impaired loans $ 21,415 $ 4,248,329 $ 92,565 $ 861,014 $ 128,826 $ 88,788 $ 5,440,937 General allowance $ 146 $ 44,161 $ 667 $ 9,235 $ 2,144 $ 483 $ 56,836 Loss coverage ratio 0.7 % 1.0 % 0.7 % 1.1 % 1.7 % 0.5 % 1.0 % Total loans $ 21,415 $ 4,324,349 $ 94,086 $ 903,621 $ 134,762 $ 89,849 $ 5,568,082 Total allowance for loan losses $ 146 $ 46,535 $ 667 $ 16,471 $ 3,456 $ 483 $ 67,758 Loss coverage ratio 0.7 % 1.1 % 0.7 % 1.8 % 2.6 % 0.5 % 1.2 % |
Troubled Debt Restructurings | A summary of TDRs on accrual and nonaccrual status by type of concession as of June 30, 2015 and December 31, 2014 is presented below: As of June 30, 2015 TDRs on Accrual TDRs on Nonaccrual Total Real Estate— Commercial Commercial Business Other Total Real Estate— Commercial Commercial Business Other Total (In thousands) Payment concession $ 11,885 $ 465 $ — $ 12,350 $ 3,888 $ 4,454 $ — $ 8,342 $ 20,692 Maturity / Amortization concession 3,568 18,766 4,066 26,400 1,250 545 232 2,027 28,427 Rate concession 13,441 5,202 — 18,643 7,423 39 171 7,633 26,276 Principal forgiveness — — — — — 11 — 11 11 $ 28,894 $ 24,433 $ 4,066 $ 57,393 $ 12,561 $ 5,049 $ 403 $ 18,013 $ 75,406 As of December 31, 2014 TDRs on Accrual TDRs on Nonaccrual Total Real Estate— Commercial Commercial Business Other Total Real Estate— Commercial Commercial Business Other Total (In thousands) Payment concession $ 12,235 $ 556 $ — $ 12,791 $ 3,840 $ 517 $ — $ 4,357 $ 17,148 Maturity / Amortization concession 2,189 20,053 3,387 25,629 1,207 3,158 1,550 5,915 31,544 Rate concession 13,684 5,024 — 18,708 8,473 80 176 8,729 27,437 Principal forgiveness — — — — — 15 — 15 15 $ 28,108 $ 25,633 $ 3,387 $ 57,128 $ 13,520 $ 3,770 $ 1,726 $ 19,016 $ 76,144 The following table presents loans by class modified as TDRs that occurred during the three and six months ended June 30, 2015 : Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Number of Loans Pre- Modification Post- Modification Number of Pre- Post- (Dollars in thousands) Legacy Loans: Real estate—commercial Retail 1 $ 255 $ 253 1 $ 255 $ 253 Hotel & motel — — — — — — Gas station & car wash — — — 1 142 131 Mixed use — — — — — — Industrial & warehouse — — — — — — Other — — — 2 1,762 1,734 Real estate - construction — — — — — — Commercial business 8 4,620 4,443 10 4,711 4,486 Trade finance — — — — — — Consumer and other — — — — — — Subtotal 9 $ 4,875 $ 4,696 14 $ 6,870 $ 6,604 Acquired Loans: Real estate—commercial Retail — $ — $ — — $ — $ — Hotel & motel — — — — — — Gas station & car wash — — — — — — Mixed use 1 64 64 1 64 64 Industrial & warehouse — — — — — — Other — — — — — — Real estate—construction — — — — — — Commercial business — — — — — — Trade finance — — — — — — Consumer and other — — — — — — Subtotal 1 $ 64 $ 64 1 $ 64 $ 64 Total 10 $ 4,939 $ 4,760 15 $ 6,934 $ 6,668 |
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 and six months ended June 30, 2015 : Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Number of Loans Balance Number of Loans Balance (Dollars In thousands) Legacy Loans: Real estate—commercial Retail — $ — — $ — Gas station & car wash 1 131 1 131 Industrial & warehouse 1 21 1 21 Other 1 325 1 325 Commercial business 8 4,047 8 4,047 Subtotal 11 $ 4,524 11 $ 4,524 Acquired Loans: Real estate—commercial Retail — $ — — $ — Gas station & car wash — — — — Hotel & motel — — — — Industrial & warehouse — — — — Other — — — — Commercial business 1 31 1 31 Subtotal 1 $ 31 1 $ 31 12 $ 4,555 12 $ 4,555 |
Covered Non-performing Assets | The covered nonperforming assets at June 30, 2015 and December 31, 2014 were as follows: June 30, 2015 December 31, 2014 (In thousands) Covered loans on nonaccrual status $ 1,172 $ 1,355 Covered OREO 956 96 Total covered nonperforming assets $ 2,128 $ 1,451 Acquired covered loans $ 27,259 $ 32,560 |
Borrowings (Tables)
Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Contractual Maturities for FHLB-SF Borrowings | At June 30, 2015 , the contractual maturities for FHLB advances were as follows: Contractual Maturities Maturity/ Put Date (In thousands) Due within one year $ 165,000 $ 185,785 Due after one year through five years 415,785 395,000 $ 580,785 $ 580,785 |
Derivative Financial Instrume30
Derivative Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Derivative [Line Items] | |
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | At June 30, 2015 , the following interest rate swaps related to our loan hedging program were outstanding: As of June 30, 2015 Interest rate swaps on loans with loan customers Notional amount (in thousands) $ 83,848 Weighted average remaining term 7.5 years Received fixed rate (weighted average) 4.44 % Pay variable rate (weighted average) 2.55 % Estimated fair value (in thousands) $ 1,127 Back to back interest rate swaps with correspondent banks Notional amount (in thousands) $ 83,848 Weighted average remaining term 7.5 years Received variable rate (weighted average) 2.55 % Pay fixed rate (weighted average) 4.44 % Estimated fair value (in thousands) $ (1,127 ) |
Subordinated Debentures (Tables
Subordinated Debentures (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Subordinated Borrowings [Abstract] | |
Summary of Trust Preferred Securities and Debentures | The following table is a summary of trust preferred securities and Debentures at June 30, 2015 : Issuance Trust Issuance Date Trust Preferred Security Amount Carrying Value of Subordinated Debentures Rate Type Current Rate Maturity Date (Dollars in thousands) Nara Capital Trust III 6/5/2003 $ 5,000 $ 5,155 Variable 3.44 % 6/15/2033 Nara Statutory Trust IV 12/22/2003 5,000 5,155 Variable 3.13 % 1/7/2034 Nara Statutory Trust V 12/17/2003 10,000 10,310 Variable 3.23 % 12/17/2033 Nara Statutory Trust VI 3/22/2007 8,000 8,248 Variable 1.94 % 6/15/2037 Center Capital Trust I 12/30/2003 18,000 13,373 Variable 3.13 % 1/7/2034 TOTAL ISSUANCE $ 46,000 $ 42,241 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Finite-Lived Intangible Assets | The following table provides information regarding the core deposit intangibles at June 30, 2015 : As of June 30, 2015 Amortization period Gross Carrying Amount Accumulated Amortization (In thousands) Core deposit—Center Financial Corporation acquisition 7 years $ 4,100 $ (2,971 ) Core deposit—PIB acquisition 7 years 603 (324 ) Core deposit—Foster acquisition 10 years 2,763 (817 ) Total $ 7,466 $ (4,112 ) |
Schedule of Servicing Assets | The changes in servicing assets for the three and six months ended June 30, 2015 and 2014 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (In thousands) Balance at beginning of period $ 10,529 $ 9,123 $ 10,341 $ 8,915 Additions through originations of servicing assets 1,144 858 2,189 1,672 Amortization (738 ) (957 ) (1,595 ) (1,563 ) Balance at end of period $ 10,935 $ 9,024 $ 10,935 $ 9,024 |
Summary of Fair Value Inputs | The inputs used in determining the fair value of the servicing assets at June 30, 2015 and December 31, 2014 are presented below. June 30, 2015 December 31, 2014 Range Range Weighted-average discount rate 5.32% ~ 5.92% 5.44% ~ 5.74% Constant prepayment rate 7.00% ~ 11.90% 8.80% ~12.40% |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
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 June 30, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Assets: Securities available for sale: GSE collateralized mortgage obligations $ 362,153 $ — $ 362,153 $ — GSE mortgage-backed securities 452,327 — 452,327 — Trust preferred securities 3,963 — 3,963 — Municipal bonds 39,669 — 38,523 1,146 Mutual funds 17,293 17,293 — — Fair Value Measurements at the End of the Reporting Period Using December 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Assets: Securities available for sale: GSE collateralized mortgage obligations $ 302,774 $ — $ 302,774 $ — GSE mortgage-backed securities 465,489 — 465,489 — Trust preferred securities 3,987 — 3,987 — Municipal bonds 6,930 — 5,752 1,178 Mutual funds 17,343 17,343 — — |
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 six months ended June 30, 2015 : Six Months Ended June 30, 2015 2014 (In thousands) Beginning Balance, January 1 $ 1,178 $ 1,112 Purchases, issuances and settlements — — Amortization — — Total gains or (losses) included in earnings — — Total gains or (losses) included in other comprehensive income (32 ) 29 Ending Balance, June 30 $ 1,146 $ 1,141 |
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 June 30, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Assets: Impaired loans at fair value: Real estate loans $ 38,705 $ — $ 38,705 $ — Commercial business 7,546 — 7,546 — Trade finance 1,654 — 1,654 — Consumer 573 — 573 — Loans held for sale, net 699 — 699 — OREO 3,844 — 3,844 — Fair Value Measurements at the End of the Reporting Period Using December 31, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Assets: Impaired loans at fair value: Real estate loans $ 43,708 $ — $ 43,708 $ — Commercial business 4,114 — 4,114 — Trade Finance 1,883 — 1,883 — Consumer 596 — 596 — Loans held for sale, net 2,000 — 2,000 — OREO 17,985 — 17,985 — For assets measured at fair value on a non-recurring basis, the total net gains (losses), which include charge offs, recoveries, specific reserves, and gains and losses on sales recognized are summarized below: For the Three Months ended June 30, For the Six Months ended June 30, 2015 2014 2015 2014 (In thousands) Assets: Impaired loans at fair value: Real estate loans $ (89 ) $ 212 $ 445 $ 1,916 Commercial business 1,650 (242 ) 2,924 (3,416 ) Trade Finance 315 (1,537 ) 5 (2,196 ) Consumer 712 195 700 149 Loans held for sale, net 45 — 227 — OREO 325 (320 ) 814 (330 ) |
Carrying Amounts and Estimated Fair Values of Financial Instruments | Carrying amounts and estimated fair values of financial instruments, not previously presented, at June 30, 2015 and December 31, 2014 were as follows: June 30, 2015 Carrying Amount Estimated Fair Value Fair Value Measurement Using (In thousands) Financial Assets: Cash and cash equivalents $ 321,266 $ 321,266 Level 1 Loans held for sale 33,785 35,439 Level 2 Loans receivable—net 5,745,706 6,097,107 Level 3 Customers’ liabilities on acceptances 1,359 1,359 Level 2 Financial Liabilities: Noninterest bearing deposits $ 1,689,137 $ 1,689,137 Level 2 Saving and other interest bearing demand deposits 1,812,972 1,812,972 Level 2 Time deposits 2,256,181 2,262,634 Level 2 FHLB advances 580,785 582,562 Level 2 Subordinated debentures 42,241 44,036 Level 2 Bank’s liabilities on acceptances outstanding 1,359 1,359 Level 2 December 31, 2014 Carrying Amount Estimated Fair Value Fair Value Measurement Using (In thousands) Financial Assets: Cash and cash equivalents $ 462,160 $ 462,160 Level 1 Loans held for sale 28,311 29,626 Level 2 Loans receivable—net 5,497,434 5,826,924 Level 3 Customers’ liabilities on acceptances 1,889 1,889 Level 2 Financial Liabilities: Noninterest bearing deposits $ 1,543,018 $ 1,543,018 Level 2 Saving and other interest bearing demand deposits 1,862,060 1,862,060 Level 2 Time deposits 2,288,374 2,292,831 Level 2 FHLB advances 480,975 481,290 Level 2 Subordinated debentures 42,158 43,987 Level 2 Bank’s liabilities on acceptances outstanding 1,889 1,889 Level 2 |
Stockholders_ Equity (Tables)
Stockholders’ Equity (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Stockholders’ Equity and Regulatory Matters [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table presents the components of accumulated other comprehensive (loss) income, net at June 30, 2015 and December 31, 2014 : June 30, 2015 December 31, 2014 (In thousands) Net unrealized (loss) gain on securities available for sale $ (445 ) $ 1,631 Net unrealized gain on interest-only strips 70 74 Total accumulated other comprehensive (loss) income, net $ (375 ) $ 1,705 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Banking and Thrift [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | Actual Required Required Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of June 30, 2015 Common equity tier 1 capital (to risk weighted assets): Company $ 802,821 12.58 % $ 287,124 4.50 % N/A N/A Bank $ 833,935 13.08 % $ 286,883 4.50 % $ 414,387 6.50 % Total capital (to risk-weighted assets): Company $ 915,181 14.34 % $ 510,443 8.00 % N/A N/A Bank $ 905,479 14.20 % $ 510,014 8.00 % $ 637,518 10.00 % Tier I capital (to risk-weighted assets): Company $ 843,637 13.22 % $ 382,832 6.00 % N/A N/A Bank $ 833,935 13.08 % $ 382,511 6.00 % $ 510,014 8.00 % Tier I capital (to average assets): Company $ 843,637 11.80 % $ 286,052 4.00 % N/A N/A Bank $ 833,935 11.67 % $ 285,903 4.00 % $ 357,379 5.00 % Actual Required Required Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of December 31, 2014 Total capital (to risk-weighted assets): Company $ 881,794 14.80 % $ 476,490 8.00 % N/A N/A Bank $ 869,343 14.61 % $ 476,101 8.00 % $ 595,126 10.00 % Tier I capital (to risk-weighted assets): Company $ 812,464 13.64 % $ 238,245 4.00 % N/A N/A Bank $ 800,013 13.44 % $ 238,050 4.00 % $ 357,076 6.00 % Tier I capital (to average assets): Company $ 812,464 11.62 % $ 279,709 4.00 % N/A N/A Bank $ 800,013 11.45 % $ 279,585 4.00 % $ 349,481 5.00 % |
Business Combinations - Summary
Business Combinations - Summary of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Liabilities Assumed: | ||
Goodwill | $ 105,401 | $ 105,401 |
Business Combinations - Additio
Business Combinations - Additional Information (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Business Acquisition [Line Items] | ||
Goodwill | $ 105,401 | $ 105,401 |
Stock-Based Compensation - Plan
Stock-Based Compensation - Plan Description (Details) - Jun. 30, 2015 - shares | Total |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of shares available for grant (in shares) | 2,495,362 |
Minimum | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Purchase price of common stock, percent | 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 | 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 | 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 | 5 years |
2006 Plan | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
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 |
Award vesting rights, percentage | 33.00% |
Stock-Based Compensation - Stoc
Stock-Based Compensation - Stock Option Activity (Details) - Jun. 30, 2015 - Stock options - USD ($) | Total |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |
Outstanding - beginning of period (in shares) | 591,652 |
Granted (in shares) | 0 |
Exercised (in shares) | 0 |
Expired (in shares) | (3,902) |
Forfeited (in shares) | 0 |
Outstanding - end of period (in shares) | 587,750 |
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 (in dollars per share) | $ 19 |
Granted, Weighted-Average Exercise Price Per Share (in dollars per share) | 0 |
Exercised, Weighted-Average Exercise Price Per Share (in dollars per share) | 0 |
Expired, Weighted-Average Exercise Price Per Share (in dollars per share) | 25.94 |
Forfeited, Weighted-Average Exercise Price Per Share (in dollars per share) | 0 |
Outstanding - end of period, Weighted-Average Exercise Price Per Share (in dollars per share) | $ 18.93 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |
Options exercisable - end of period (in shares) | 417,750 |
Options exercisable, Weighted-Average Exercise Price Per Share (in dollars per share) | $ 20.19 |
Outstanding, Weighted-Average Remaining Contractual Life (Years) | 2 years 2 months 20 days |
Options exercisable, Weighted-Average Remaining Contractual Life (Years) | 2 years 2 months 20 days |
Outstanding, Aggregate Intrinsic Value | $ 0 |
Options exercisable, Aggregate Intrinsic Value | $ 0 |
Stock-Based Compensation - Rest
Stock-Based Compensation - Restricted and Performance Unit Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ||||
Allocated share-based compensation expense | $ 420 | $ 184 | $ 628 | $ 297 |
Tax benefit from compensation expense | $ 168 | 100 | $ 251 | $ 115 |
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 period (in shares) | 175,668 | |||
Granted (in shares) | 15,000 | |||
Vested (in shares) | (53,083) | |||
Forfeited (in shares) | (2,288) | |||
Outstanding - end of period (in shares) | 135,297 | 135,297 | ||
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 period, Weighted-Average Grant Date Fair Value (in dollars per share) | $ 13.52 | |||
Granted, Weighted-Average Grant Date Fair Value (in dollars per share) | 14.11 | |||
Vested, Weighted-Average Grant Date Fair Value (in dollars per share) | 12.20 | |||
Forfeited, Weighted-Average Grant Date Fair Value (in dollars per share) | 14.38 | |||
Outstanding - end of period, Weighted-Average Grant Date Fair Value (in dollars per share) | $ 14.07 | $ 14.07 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ||||
Total compensation cost not yet recognized | $ 1,600 | $ 1,600 | ||
Total compensation cost not yet recognized, period for recognition | 3 years 25 days | |||
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 | 725 | $ 900 | ||
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ||||
Total compensation cost not yet recognized | $ 800 | $ 800 | ||
Total compensation cost not yet recognized, period for recognition | 3 years 9 months 17 days |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Net income (Numerator) | ||||
Net income available to common stockholders - basic | $ 22,941 | $ 22,312 | $ 44,299 | $ 44,508 |
Net income available to common stockholders - diluted | $ 22,941 | $ 22,312 | $ 44,299 | $ 44,508 |
Shares (Denominator) | ||||
Weighted-Average Shares (Denominator) (shares) | 79,549,097 | 79,490,767 | 79,539,789 | 79,481,359 |
Effect of Dilutive Securities: | ||||
Stock options and performance units (shares) | 20,778 | 40,119 | 24,155 | 49,132 |
Common stock warrants (shares) | 38,530 | 83,160 | 46,712 | 87,955 |
Diluted EPS - common stock (shares) | 79,608,405 | 79,614,046 | 79,610,656 | 79,618,446 |
Per Share (Amount) | ||||
Basic EPS - common stock (in dollars per share) | $ 0.29 | $ 0.28 | $ 0.56 | $ 0.56 |
Diluted EPS - common stock (in dollars per share) | $ 0.29 | $ 0.28 | $ 0.56 | $ 0.56 |
Stock options and restricted shares | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share | ||||
Antidilutive shares of common stock | 596,982 | 595,209 | ||
Warrants | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share | ||||
Antidilutive shares of common stock | 19,013 | 18,482 | 18,882 | 18,392 |
Securities Available for Sale42
Securities Available for Sale (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | |||||
Unrealized (losses) gains on securities available for sale and interest only strips | $ (8,446) | $ 6,655 | $ (3,191) | $ 17,795 | |
Amortized Cost | 876,368 | 876,368 | $ 793,877 | ||
Gross Unrealized Gains | 6,423 | 6,423 | 8,347 | ||
Gross Unrealized Losses | (7,386) | (7,386) | (5,701) | ||
Estimated Fair Value | 875,405 | 875,405 | 796,523 | ||
GSE collateralized mortgage obligations | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Amortized Cost | 363,759 | 363,759 | 304,947 | ||
Gross Unrealized Gains | 1,774 | 1,774 | 1,376 | ||
Gross Unrealized Losses | (3,380) | (3,380) | (3,549) | ||
Estimated Fair Value | 362,153 | 362,153 | 302,774 | ||
GSE mortgage-backed securities | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Amortized Cost | 450,974 | 450,974 | 460,487 | ||
Gross Unrealized Gains | 4,211 | 4,211 | 6,528 | ||
Gross Unrealized Losses | (2,858) | (2,858) | (1,526) | ||
Estimated Fair Value | 452,327 | 452,327 | 465,489 | ||
Trust preferred securities | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Amortized Cost | 4,538 | 4,538 | 4,531 | ||
Gross Unrealized Gains | 0 | 0 | 0 | ||
Gross Unrealized Losses | (575) | (575) | (544) | ||
Estimated Fair Value | 3,963 | 3,963 | 3,987 | ||
Municipal bonds | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Amortized Cost | 39,672 | 39,672 | 6,487 | ||
Gross Unrealized Gains | 438 | 438 | 443 | ||
Gross Unrealized Losses | (441) | (441) | 0 | ||
Estimated Fair Value | 39,669 | 39,669 | 6,930 | ||
Total Debt securities | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Amortized Cost | 858,943 | 858,943 | 776,452 | ||
Gross Unrealized Gains | 6,423 | 6,423 | 8,347 | ||
Gross Unrealized Losses | (7,254) | (7,254) | (5,619) | ||
Estimated Fair Value | 858,112 | 858,112 | 779,180 | ||
Mutual funds - GSE mortgage related securities | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Amortized Cost | 17,425 | 17,425 | 17,425 | ||
Gross Unrealized Gains | 0 | 0 | 0 | ||
Gross Unrealized Losses | (132) | (132) | (82) | ||
Estimated Fair Value | $ 17,293 | $ 17,293 | $ 17,343 |
Securities Available for Sale -
Securities Available for Sale - Proceeds, Gains and Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Available-for-sale Securities [Abstract] | ||||
Unrealized (losses) gains on securities available for sale and interest only strips | $ (8,446) | $ 6,655 | $ (3,191) | $ 17,795 |
Reclassification adjustments for gains realized in income | 0 | 0 | (424) | 0 |
Proceeds | 0 | 0 | 22,510 | 0 |
Gross gains | 0 | 0 | 424 | 0 |
Gross losses | $ 0 | $ 0 | $ 0 | $ 0 |
Securities Available for Sale44
Securities Available for Sale - Amortized Cost and Estimated Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract] | ||
Amortized Cost - Due within one year | $ 340 | |
Amortized Cost - Due after one year through five years | 882 | |
Amortized Cost - Due after five years through ten years | 23,894 | |
Amortized Cost - Due after ten years | 19,094 | |
Amortized Cost | 876,368 | $ 793,877 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Estimated Fair Value - Due within one year | 340 | |
Estimated Fair Value - Due after one year through five years | 959 | |
Estimated Fair Value - Due after five years through ten years | 24,024 | |
Estimated Fair Value - Due after ten years | 18,309 | |
Estimated Fair Value | 875,405 | 796,523 |
Available-for-sale Securities, Restricted | 339,100 | 366,200 |
GSE collateralized mortgage obligations | ||
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract] | ||
Amortized Cost - no single maturity date | 363,759 | |
Amortized Cost | 363,759 | 304,947 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Estimated Fair Value - no single maturity date | 362,153 | |
Estimated Fair Value | 362,153 | 302,774 |
GSE mortgage-backed securities | ||
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract] | ||
Amortized Cost - no single maturity date | 450,974 | |
Amortized Cost | 450,974 | 460,487 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Estimated Fair Value - no single maturity date | 452,327 | |
Estimated Fair Value | 452,327 | 465,489 |
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 | |
Amortized Cost | 17,425 | 17,425 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Estimated Fair Value - no single maturity date | 17,293 | |
Estimated Fair Value | $ 17,293 | $ 17,343 |
Securities Available for Sale45
Securities Available for Sale - Aggregate Unrealized Losses and Fair Value (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2015USD ($)security | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($)security | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($)security | ||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions [Abstract] | ||||||
Number of Securities, Less than 12 months | security | 96 | 96 | 14 | |||
Number of Securities, 12 months or longer | security | 13 | 13 | 21 | |||
Number of Securities, Total | security | 109 | 109 | 35 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||||||
Fair Value - Less than 12 months | $ 327,537 | $ 327,537 | $ 109,322 | |||
Fair Value - 12 months or longer | 117,713 | 117,713 | 212,930 | |||
Fair Value - Total | 445,250 | 445,250 | 322,252 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||||||
Gross Unrealized Losses - Less than 12 months | (2,809) | (2,809) | (646) | |||
Gross Unrealized Losses - 12 months or longer | (4,577) | (4,577) | (5,055) | |||
Gross Unrealized Losses - Total | (7,386) | (7,386) | $ (5,701) | |||
Unrealized gain on available-for-sale securities | (8,446) | $ 6,655 | (3,191) | $ 17,795 | ||
Reclassification out of accumulated other comprehensive income as a result of securities being sold | $ 0 | $ 0 | $ 424 | $ 0 | ||
GSE collateralized mortgage obligations | ||||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions [Abstract] | ||||||
Number of Securities, Less than 12 months | security | [1] | 12 | 12 | 7 | ||
Number of Securities, 12 months or longer | security | [1] | 9 | 9 | 13 | ||
Number of Securities, Total | security | [1] | 21 | 21 | 20 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||||||
Fair Value - Less than 12 months | [1] | $ 102,215 | $ 102,215 | $ 71,189 | ||
Fair Value - 12 months or longer | [1] | 84,821 | 84,821 | 133,563 | ||
Fair Value - Total | [1] | 187,036 | 187,036 | 204,752 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||||||
Gross Unrealized Losses - Less than 12 months | [1] | (1,000) | (1,000) | (507) | ||
Gross Unrealized Losses - 12 months or longer | [1] | (2,380) | (2,380) | (3,042) | ||
Gross Unrealized Losses - Total | [1] | $ (3,380) | $ (3,380) | $ (3,549) | ||
GSE mortgage-backed securities | ||||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions [Abstract] | ||||||
Number of Securities, Less than 12 months | security | [1] | 20 | 20 | 7 | ||
Number of Securities, 12 months or longer | security | [1] | 3 | 3 | 6 | ||
Number of Securities, Total | security | [1] | 23 | 23 | 13 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||||||
Fair Value - Less than 12 months | [1] | $ 182,162 | $ 182,162 | $ 38,133 | ||
Fair Value - 12 months or longer | [1] | 28,929 | 28,929 | 62,036 | ||
Fair Value - Total | [1] | 211,091 | 211,091 | 100,169 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||||||
Gross Unrealized Losses - Less than 12 months | [1] | (1,236) | (1,236) | (139) | ||
Gross Unrealized Losses - 12 months or longer | [1] | (1,622) | (1,622) | (1,387) | ||
Gross Unrealized Losses - Total | [1] | $ (2,858) | $ (2,858) | $ (1,526) | ||
Trust preferred securities | ||||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions [Abstract] | ||||||
Number of Securities, Less than 12 months | security | 0 | 0 | 0 | |||
Number of Securities, 12 months or longer | security | 1 | 1 | 1 | |||
Number of Securities, Total | security | 1 | 1 | 1 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||||||
Fair Value - Less than 12 months | $ 0 | $ 0 | $ 0 | |||
Fair Value - 12 months or longer | 3,963 | 3,963 | 3,988 | |||
Fair Value - Total | 3,963 | 3,963 | 3,988 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||||||
Gross Unrealized Losses - Less than 12 months | 0 | 0 | 0 | |||
Gross Unrealized Losses - 12 months or longer | (575) | (575) | (544) | |||
Gross Unrealized Losses - Total | $ (575) | $ (575) | $ (544) | |||
Municipal bonds | ||||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions [Abstract] | ||||||
Number of Securities, Less than 12 months | security | 63 | 63 | ||||
Number of Securities, 12 months or longer | security | 0 | 0 | ||||
Number of Securities, Total | security | 63 | 63 | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||||||
Fair Value - Less than 12 months | $ 29,867 | $ 29,867 | ||||
Fair Value - 12 months or longer | 0 | 0 | ||||
Fair Value - Total | 29,867 | 29,867 | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||||||
Gross Unrealized Losses - Less than 12 months | (441) | (441) | ||||
Gross Unrealized Losses - 12 months or longer | 0 | 0 | ||||
Gross Unrealized Losses - Total | $ (441) | $ (441) | ||||
Mutual funds - GSE mortgage related securities | ||||||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions [Abstract] | ||||||
Number of Securities, Less than 12 months | security | 1 | 1 | 0 | |||
Number of Securities, 12 months or longer | security | 0 | 0 | 1 | |||
Number of Securities, Total | security | 1 | 1 | 1 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||||||
Fair Value - Less than 12 months | $ 13,293 | $ 13,293 | $ 0 | |||
Fair Value - 12 months or longer | 0 | 0 | 13,343 | |||
Fair Value - Total | 13,293 | 13,293 | 13,343 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||||||
Gross Unrealized Losses - Less than 12 months | (132) | (132) | 0 | |||
Gross Unrealized Losses - 12 months or longer | 0 | 0 | (82) | |||
Gross Unrealized Losses - Total | $ (132) | $ (132) | $ (82) | |||
Credit concentration risk | Stockholders' equity | Non-US Government and agency securities | ||||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||||||
Maximum exposure to any single issuer | 10.00% | 10.00% | ||||
[1] | Investments in U.S. Government agency and U.S. Government sponsored enterprises |
Loans Receivable and Allowanc46
Loans Receivable and Allowance for Loan Losses - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) $ in Thousands | 6 Months Ended | |||||
Jun. 30, 2015USD ($)segment | Mar. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Jun. 30, 2014USD ($) | Mar. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Real estate loans: | ||||||
Loans | $ 5,818,822 | $ 5,568,082 | ||||
Less: deferred loan fees | (2,998) | (2,890) | ||||
Loans receivable | 5,815,824 | 5,565,192 | ||||
Less: allowance for loan losses | (70,118) | $ (69,594) | (67,758) | $ (66,870) | $ (65,699) | $ (67,320) |
Loans receivable, net of allowance for loan losses | $ 5,745,706 | 5,497,434 | ||||
Number of portfolio segments | segment | 4 | |||||
Real estate loans | ||||||
Real estate loans: | ||||||
Loans | $ 4,645,401 | 4,439,850 | ||||
Real estate loans | Residential | ||||||
Real estate loans: | ||||||
Loans | 36,706 | 21,415 | ||||
Less: allowance for loan losses | (247) | (146) | ||||
Real estate loans | Commercial & industrial | ||||||
Real estate loans: | ||||||
Loans | 4,503,794 | 4,324,349 | ||||
Less: allowance for loan losses | (50,147) | (46,535) | ||||
Real estate loans | Construction | ||||||
Real estate loans: | ||||||
Loans | 104,901 | 94,086 | ||||
Less: allowance for loan losses | (593) | (667) | ||||
Commercial business | ||||||
Real estate loans: | ||||||
Loans | 970,787 | 903,621 | ||||
Less: allowance for loan losses | (16,278) | (16,471) | ||||
Trade finance | ||||||
Real estate loans: | ||||||
Loans | 114,927 | 134,762 | ||||
Less: allowance for loan losses | (1,760) | (3,456) | ||||
Consumer and other | ||||||
Real estate loans: | ||||||
Loans | 87,707 | 89,849 | ||||
Less: allowance for loan losses | $ (1,093) | $ (483) |
Loans Receivable and Allowanc47
Loans Receivable and Allowance for Loan Losses - Accretable Yield Movement Schedule on Acquired Credit Impaired Loans in Center Merger (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | $ 22,645 | $ 32,583 | $ 24,051 | $ 47,398 |
Accretion | (3,096) | (4,197) | (6,232) | (9,064) |
Changes in expected cash flows | 1,840 | (102) | 3,570 | (10,050) |
Balance at end of period | $ 21,389 | $ 28,284 | $ 21,389 | $ 28,284 |
Loans Receivable and Allowanc48
Loans Receivable and Allowance for Loan Losses - Allowance for Credit Losses on Financing Receivables (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Dec. 31, 2014 | |
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | $ 69,594 | $ 65,699 | $ 67,758 | $ 67,320 | ||
Provision (credit) for loan losses | 1,000 | 2,996 | 2,500 | 6,022 | ||
Loans charged off | (1,451) | (2,771) | (2,576) | (8,034) | ||
Recoveries of charged offs | 975 | 946 | 2,436 | 1,562 | ||
Balance, end of period | 70,118 | 66,870 | 70,118 | 66,870 | ||
Allowance for loan losses: | ||||||
Allowance for loan losses - Individually evaluated for impairment | $ 8,065 | $ 10,922 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 49,406 | 49,489 | ||||
Allowance for loan losses - Total | 69,594 | 65,699 | 67,758 | 67,320 | 70,118 | 67,758 |
Loans outstsanding: | ||||||
Loans outstanding - Individually evaluated for impairment | 118,698 | 127,145 | ||||
Loans outstanding - Collectively evaluated for impairment | 5,564,471 | 5,281,300 | ||||
Loans outstanding - ACILs | 5,745,706 | 5,497,434 | ||||
Total loans outstanding | 5,818,822 | 5,568,082 | ||||
Legacy | ||||||
Loans outstsanding: | ||||||
Total loans outstanding | 5,295,008 | 4,919,570 | ||||
Acquired | ||||||
Loans outstsanding: | ||||||
Total loans outstanding | 523,814 | 648,512 | ||||
Real estate | ||||||
Loans outstsanding: | ||||||
Total loans outstanding | 4,645,401 | 4,439,850 | ||||
Real estate | Legacy | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 35,772 | 38,586 | 38,775 | 40,068 | ||
Provision (credit) for loan losses | 1,224 | 1,066 | (2,398) | (348) | ||
Loans charged off | (61) | (726) | (242) | (813) | ||
Recoveries of charged offs | 61 | 132 | 861 | 151 | ||
Balance, end of period | 36,996 | 39,058 | 36,996 | 39,058 | ||
Allowance for loan losses: | ||||||
Allowance for loan losses - Individually evaluated for impairment | 1,783 | 1,940 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 35,213 | 36,835 | ||||
Allowance for loan losses - Total | 35,772 | 38,586 | 38,775 | 40,068 | 36,996 | 38,775 |
Loans outstsanding: | ||||||
Loans outstanding - Individually evaluated for impairment | 54,022 | 57,506 | ||||
Loans outstanding - Collectively evaluated for impairment | 4,171,701 | 3,864,289 | ||||
Total loans outstanding | 4,225,723 | 3,921,795 | ||||
Real estate | Acquired | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 13,724 | 6,838 | 8,573 | 6,482 | ||
Provision (credit) for loan losses | 280 | 622 | 5,590 | 1,073 | ||
Loans charged off | (13) | (188) | (172) | (283) | ||
Recoveries of charged offs | 0 | 17 | 0 | 17 | ||
Balance, end of period | 13,991 | 7,289 | 13,991 | 7,289 | ||
Allowance for loan losses: | ||||||
Allowance for loan losses - Individually evaluated for impairment | 591 | 434 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 753 | 792 | ||||
Allowance for loan losses - Total | 13,724 | 6,838 | 8,573 | 6,482 | 13,991 | 8,573 |
Loans outstsanding: | ||||||
Loans outstanding - Individually evaluated for impairment | 18,323 | 20,035 | ||||
Loans outstanding - Collectively evaluated for impairment | 313,877 | 397,147 | ||||
Total loans outstanding | 419,678 | 518,055 | ||||
Commercial business | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 16,471 | |||||
Balance, end of period | 16,278 | 16,278 | ||||
Allowance for loan losses: | ||||||
Allowance for loan losses - Total | 16,278 | 16,471 | 16,278 | 16,471 | ||
Loans outstsanding: | ||||||
Total loans outstanding | 970,787 | 903,621 | ||||
Commercial business | Legacy | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 16,168 | 16,208 | 15,986 | 16,796 | ||
Provision (credit) for loan losses | (751) | (336) | (773) | 2,211 | ||
Loans charged off | (448) | (1,794) | (899) | (5,519) | ||
Recoveries of charged offs | 809 | 581 | 1,464 | 1,171 | ||
Balance, end of period | 15,778 | 14,659 | 15,778 | 14,659 | ||
Allowance for loan losses: | ||||||
Allowance for loan losses - Individually evaluated for impairment | 4,383 | 6,929 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 11,395 | 9,057 | ||||
Allowance for loan losses - Total | 16,168 | 16,208 | 15,986 | 16,796 | 15,778 | 15,986 |
Loans outstsanding: | ||||||
Loans outstanding - Individually evaluated for impairment | 36,403 | 40,829 | ||||
Loans outstanding - Collectively evaluated for impairment | 875,857 | 784,407 | ||||
Total loans outstanding | 912,260 | 825,236 | ||||
Commercial business | Acquired | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 422 | 593 | 485 | 796 | ||
Provision (credit) for loan losses | 240 | 88 | 262 | 1,099 | ||
Loans charged off | (170) | (45) | (257) | (1,265) | ||
Recoveries of charged offs | 8 | 3 | 10 | 9 | ||
Balance, end of period | 500 | 639 | 500 | 639 | ||
Allowance for loan losses: | ||||||
Allowance for loan losses - Individually evaluated for impairment | 373 | 307 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 127 | 178 | ||||
Allowance for loan losses - Total | 422 | 593 | 485 | 796 | 500 | 485 |
Loans outstsanding: | ||||||
Loans outstanding - Individually evaluated for impairment | 1,641 | 1,778 | ||||
Loans outstanding - Collectively evaluated for impairment | 30,425 | 43,460 | ||||
Total loans outstanding | 58,527 | 78,385 | ||||
Trade finance | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 3,456 | |||||
Balance, end of period | 1,760 | 1,760 | ||||
Allowance for loan losses: | ||||||
Allowance for loan losses - Total | 1,760 | 3,456 | 1,760 | 3,456 | ||
Loans outstsanding: | ||||||
Total loans outstanding | 114,927 | 134,762 | ||||
Trade finance | Legacy | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 3,041 | 2,944 | 3,456 | 2,653 | ||
Provision (credit) for loan losses | (522) | 1,624 | (709) | 1,972 | ||
Loans charged off | (759) | 0 | (987) | (57) | ||
Recoveries of charged offs | 0 | 0 | 0 | 0 | ||
Balance, end of period | 1,760 | 4,568 | 1,760 | 4,568 | ||
Allowance for loan losses: | ||||||
Allowance for loan losses - Individually evaluated for impairment | 320 | 1,312 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 1,440 | 2,144 | ||||
Allowance for loan losses - Total | 3,041 | 2,944 | 3,456 | 2,653 | 1,760 | 3,456 |
Loans outstsanding: | ||||||
Loans outstanding - Individually evaluated for impairment | 6,670 | 5,936 | ||||
Loans outstanding - Collectively evaluated for impairment | 108,257 | 128,826 | ||||
Total loans outstanding | 114,927 | 134,762 | ||||
Trade finance | Acquired | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 0 | 0 | 0 | 0 | ||
Provision (credit) for loan losses | 0 | 0 | 0 | 0 | ||
Loans charged off | 0 | 0 | 0 | 0 | ||
Recoveries of charged offs | 0 | 0 | 0 | 0 | ||
Balance, end of period | 0 | 0 | 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 - Total | 0 | 0 | 0 | 0 | 0 | 0 |
Loans outstsanding: | ||||||
Loans outstanding - Individually evaluated for impairment | 0 | 0 | ||||
Loans outstanding - Collectively evaluated for impairment | 0 | 0 | ||||
Total loans outstanding | 0 | 0 | ||||
Consumer and other | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 483 | |||||
Balance, end of period | 1,093 | 1,093 | ||||
Allowance for loan losses: | ||||||
Allowance for loan losses - Total | 1,093 | 483 | 1,093 | 483 | ||
Loans outstsanding: | ||||||
Total loans outstanding | 87,707 | 89,849 | ||||
Consumer and other | Legacy | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 416 | 467 | 427 | 461 | ||
Provision (credit) for loan losses | 521 | (69) | 523 | (62) | ||
Loans charged off | 0 | (18) | (15) | (19) | ||
Recoveries of charged offs | 92 | 211 | 94 | 211 | ||
Balance, end of period | 1,029 | 591 | 1,029 | 591 | ||
Allowance for loan losses: | ||||||
Allowance for loan losses - Individually evaluated for impairment | 615 | 0 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 414 | 427 | ||||
Allowance for loan losses - Total | 416 | 467 | 427 | 461 | 1,029 | 427 |
Loans outstsanding: | ||||||
Loans outstanding - Individually evaluated for impairment | 1,067 | 465 | ||||
Loans outstanding - Collectively evaluated for impairment | 41,031 | 37,312 | ||||
Total loans outstanding | 42,098 | 37,777 | ||||
Consumer and other | Acquired | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 51 | 63 | 56 | 64 | ||
Provision (credit) for loan losses | 8 | 1 | 5 | 77 | ||
Loans charged off | 0 | 0 | (4) | (78) | ||
Recoveries of charged offs | 5 | 2 | 7 | 3 | ||
Balance, end of period | 64 | 66 | 64 | 66 | ||
Allowance for loan losses: | ||||||
Allowance for loan losses - Individually evaluated for impairment | 0 | 0 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 64 | 56 | ||||
Allowance for loan losses - Total | 51 | $ 63 | 56 | $ 64 | 64 | 56 |
Loans outstsanding: | ||||||
Loans outstanding - Individually evaluated for impairment | 572 | 596 | ||||
Loans outstanding - Collectively evaluated for impairment | 23,323 | 25,859 | ||||
Total loans outstanding | 45,609 | 52,072 | ||||
Receivables acquired with deteriorated credit quality | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 7,347 | |||||
Balance, end of period | 12,647 | 12,647 | ||||
Allowance for loan losses: | ||||||
Allowance for loan losses - Total | 12,647 | 7,347 | 12,647 | 7,347 | ||
Loans outstsanding: | ||||||
Loans outstanding - ACILs | 135,653 | 159,637 | ||||
Receivables acquired with deteriorated credit quality | Real estate | Legacy | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 0 | |||||
Balance, end of period | 0 | 0 | ||||
Allowance for loan losses: | ||||||
Allowance for loan losses - Total | 0 | 0 | 0 | 0 | ||
Loans outstsanding: | ||||||
Loans outstanding - ACILs | 0 | 0 | ||||
Receivables acquired with deteriorated credit quality | Real estate | Acquired | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 7,347 | |||||
Balance, end of period | 12,647 | 12,647 | ||||
Allowance for loan losses: | ||||||
Allowance for loan losses - Total | 12,647 | 7,347 | 12,647 | 7,347 | ||
Loans outstsanding: | ||||||
Loans outstanding - ACILs | 87,478 | 100,873 | ||||
Receivables acquired with deteriorated credit quality | Commercial business | Legacy | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 0 | |||||
Balance, end of period | 0 | 0 | ||||
Allowance for loan losses: | ||||||
Allowance for loan losses - Total | 0 | 0 | 0 | 0 | ||
Loans outstsanding: | ||||||
Loans outstanding - ACILs | 0 | 0 | ||||
Receivables acquired with deteriorated credit quality | Commercial business | Acquired | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 0 | |||||
Balance, end of period | 0 | 0 | ||||
Allowance for loan losses: | ||||||
Allowance for loan losses - Total | 0 | 0 | 0 | 0 | ||
Loans outstsanding: | ||||||
Loans outstanding - ACILs | 26,461 | 33,147 | ||||
Receivables acquired with deteriorated credit quality | Trade finance | Legacy | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 0 | |||||
Balance, end of period | 0 | 0 | ||||
Allowance for loan losses: | ||||||
Allowance for loan losses - Total | 0 | 0 | 0 | 0 | ||
Loans outstsanding: | ||||||
Loans outstanding - ACILs | 0 | 0 | ||||
Receivables acquired with deteriorated credit quality | Trade finance | Acquired | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 0 | |||||
Balance, end of period | 0 | 0 | ||||
Allowance for loan losses: | ||||||
Allowance for loan losses - Total | 0 | 0 | 0 | 0 | ||
Loans outstsanding: | ||||||
Loans outstanding - ACILs | 0 | 0 | ||||
Receivables acquired with deteriorated credit quality | Consumer and other | Legacy | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 0 | |||||
Balance, end of period | 0 | 0 | ||||
Allowance for loan losses: | ||||||
Allowance for loan losses - Total | 0 | 0 | 0 | 0 | ||
Loans outstsanding: | ||||||
Loans outstanding - ACILs | 0 | 0 | ||||
Receivables acquired with deteriorated credit quality | Consumer and other | Acquired | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 0 | |||||
Balance, end of period | 0 | 0 | ||||
Allowance for loan losses: | ||||||
Allowance for loan losses - Total | $ 0 | $ 0 | 0 | 0 | ||
Loans outstsanding: | ||||||
Loans outstanding - ACILs | $ 21,714 | $ 25,617 |
Loans Receivable and Allowanc49
Loans Receivable and Allowance for Loan Losses - Impaired Financing Receivables (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | $ 66,527 | [1] | $ 66,527 | [1] | $ 73,934 | [2] | |||||
Recorded Investment, With no related allowance | 52,171 | [1] | 52,171 | [1] | 53,211 | [2] | |||||
Related Allowance | (8,065) | (8,065) | (10,922) | ||||||||
Impaired Loans, net of allowance | 110,633 | 110,633 | 116,223 | ||||||||
Total recorded investment | 118,698 | [1] | 118,698 | [1] | 127,145 | [2] | |||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 68,153 | 68,153 | 86,395 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 69,876 | 69,876 | 70,351 | ||||||||
Impaired Financing Receivable, Unpaid Principal Balance | 138,029 | 138,029 | 156,746 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 66,768 | [1] | $ 71,917 | [1] | 69,157 | [1] | $ 76,868 | [1] | 77,098 | [2] | |
Average Recorded Investment, With no related allowance | 53,950 | [1] | 51,079 | [1] | 53,703 | [1] | 43,885 | [1] | 46,924 | [2] | |
Average Recorded Investment, Total | 120,718 | [1] | 122,996 | [1] | 122,860 | [1] | 120,753 | [1] | 124,022 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 658 | 708 | 1,322 | 1,380 | 2,695 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 273 | 279 | 542 | 535 | 1,106 | ||||||
Interest Income Recognized during Impairment, Total | 931 | 987 | $ 1,864 | 1,915 | 3,801 | ||||||
Threshold period for loans to be placed on nonaccrual status | 90 days | ||||||||||
WIthout charge-offs | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 65,343 | $ 65,343 | 67,352 | ||||||||
Recorded Investment, With no related allowance | 48,001 | 48,001 | 46,885 | ||||||||
With charge-offs | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 1,184 | 1,184 | 6,582 | ||||||||
Recorded Investment, With no related allowance | 4,170 | 4,170 | 6,326 | ||||||||
Acquired | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 6,674 | [3] | 6,674 | [3] | 6,299 | [2] | |||||
Recorded Investment, With no related allowance | 13,862 | [3] | 13,862 | [3] | 16,109 | [2] | |||||
Related Allowance | (963) | (963) | (741) | ||||||||
Total recorded investment | 20,536 | [3] | 20,536 | [3] | 22,408 | [2] | |||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 7,303 | 7,303 | 6,883 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 18,135 | 18,135 | 20,704 | ||||||||
Impaired Financing Receivable, Unpaid Principal Balance | 25,438 | 25,438 | 27,587 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 5,839 | [3] | 4,434 | [3] | 5,993 | [3] | 6,176 | [3] | 6,083 | [2] | |
Average Recorded Investment, With no related allowance | 15,046 | [3] | 20,552 | [3] | 15,401 | [3] | 18,333 | 17,396 | [2] | ||
Average Recorded Investment, Total | 20,885 | [3] | 24,986 | [3] | 21,394 | [3] | 24,509 | [3] | 23,479 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 60 | 20 | 120 | 38 | 177 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 37 | 30 | 76 | 54 | 119 | ||||||
Interest Income Recognized during Impairment, Total | 97 | 50 | 196 | 92 | 296 | ||||||
Commercial & industrial | Retail | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | [2] | 4,902 | |||||||||
Commercial & industrial | Hotel & motel | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With no related allowance | [2] | 5,992 | |||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With no related allowance | 8,728 | ||||||||||
Commercial & industrial | Gas station & car wash | |||||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 3,507 | ||||||||||
Commercial & industrial | Mixed use | |||||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With no related allowance | 1,697 | ||||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With no related allowance | [2] | 1,415 | |||||||||
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | ||||||||||
Interest Income Recognized during Impairment, With no related allowance | 39 | ||||||||||
Commercial & industrial | Industrial & warehouse | |||||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 2,126 | ||||||||||
Commercial & industrial | Other | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Related Allowance | (1,110) | ||||||||||
Real estate | Residential | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 0 | [1] | 0 | [1] | 0 | [2] | |||||
Recorded Investment, With no related allowance | 0 | [1] | 0 | [1] | 0 | [2] | |||||
Related Allowance | 0 | 0 | 0 | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 0 | 0 | 0 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 0 | 0 | 0 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [2] | |
Average Recorded Investment, With no related allowance | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | 0 | 0 | ||||||
Real estate | Residential | Acquired | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 0 | [3] | 0 | [3] | 0 | [2] | |||||
Recorded Investment, With no related allowance | 0 | [3] | 0 | [3] | 0 | [2] | |||||
Related Allowance | 0 | 0 | 0 | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 0 | 0 | 0 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 0 | 0 | 0 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [2] | |
Average Recorded Investment, With no related allowance | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | 0 | 0 | ||||||
Real estate | Commercial & industrial | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Related Allowance | (2,374) | (2,374) | (2,374) | ||||||||
Real estate | Commercial & industrial | Retail | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | [1] | 4,419 | 4,419 | ||||||||
Recorded Investment, With no related allowance | 9,197 | [1] | 9,197 | [1] | 11,708 | [2] | |||||
Related Allowance | (243) | (243) | (390) | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 4,615 | 4,615 | 5,288 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 10,932 | 10,932 | 13,492 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 4,165 | [1] | 4,198 | [1] | 4,411 | [1] | 5,238 | [1] | 5,205 | [2] | |
Average Recorded Investment, With no related allowance | 9,536 | [1] | 8,300 | [1] | 10,260 | [1] | 6,875 | [1] | 8,462 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 44 | 27 | 88 | 46 | 127 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 84 | 62 | 167 | 124 | 358 | ||||||
Real estate | Commercial & industrial | Retail | Acquired | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 2,579 | [3] | 2,579 | [3] | 1,653 | [2] | |||||
Recorded Investment, With no related allowance | 1,370 | [3] | 1,370 | [3] | 3,158 | [2] | |||||
Related Allowance | (185) | (185) | (36) | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 2,568 | 2,568 | 1,638 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 1,479 | 1,479 | 3,376 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 2,591 | [3] | 201 | [3] | 2,278 | [3] | 264 | [3] | 838 | [2] | |
Average Recorded Investment, With no related allowance | 1,476 | [3] | 1,702 | [3] | 2,037 | [3] | 1,549 | [3] | 1,869 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 37 | 0 | 74 | 0 | 97 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 3 | 7 | 7 | 15 | 27 | ||||||
Real estate | Commercial & industrial | Hotel & motel | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 11,416 | [1] | 11,416 | [1] | 13,401 | [2] | |||||
Recorded Investment, With no related allowance | [1] | 6,522 | 6,522 | ||||||||
Related Allowance | (326) | (326) | (469) | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 11,422 | 11,422 | 14,548 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 8,600 | 8,600 | |||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 11,500 | [1] | 11,696 | [1] | 12,134 | [1] | 11,771 | [1] | 12,053 | [2] | |
Average Recorded Investment, With no related allowance | 6,187 | [1] | 6,468 | [1] | 6,122 | [1] | 6,480 | [1] | 6,655 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 129 | 133 | 258 | 266 | 532 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 3 | 0 | 7 | 0 | 0 | ||||||
Real estate | Commercial & industrial | Hotel & motel | Acquired | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 0 | [3] | 0 | [3] | 0 | [2] | |||||
Recorded Investment, With no related allowance | 5,730 | [3] | 5,730 | [3] | 5,591 | [2] | |||||
Related Allowance | 0 | 0 | 0 | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 0 | 0 | 0 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 7,779 | 7,779 | 7,493 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [2] | |
Average Recorded Investment, With no related allowance | 5,624 | [3] | 6,347 | [3] | 5,613 | [3] | 6,379 | [3] | 6,067 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 3 | 0 | 7 | 0 | 0 | ||||||
Real estate | Commercial & industrial | Gas station & car wash | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 1,719 | [1] | 1,719 | [1] | 1,904 | [2] | |||||
Recorded Investment, With no related allowance | 3,682 | [1] | 3,682 | [1] | 2,693 | [2] | |||||
Related Allowance | (341) | (341) | (379) | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 1,928 | 1,928 | |||||||||
Unpaid Contractual Principal Balance, With no related allowance | 6,205 | 6,205 | 4,065 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 1,266 | [1] | 2,589 | [1] | 1,479 | [1] | 2,774 | [1] | 2,440 | [2] | |
Average Recorded Investment, With no related allowance | 3,739 | [1] | 4,808 | [1] | 3,391 | [1] | 4,820 | [1] | 4,139 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 15 | 19 | 29 | 38 | 60 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 11 | 0 | 22 | 0 | 44 | ||||||
Real estate | Commercial & industrial | Gas station & car wash | Acquired | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 1,719 | [3] | 1,719 | [3] | 1,762 | [2] | |||||
Recorded Investment, With no related allowance | 0 | [3] | 0 | [3] | 9 | [2] | |||||
Related Allowance | (341) | (341) | (379) | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 1,928 | 1,928 | 1,953 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 0 | 0 | 297 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 1,215 | [3] | 2,289 | [3] | 1,398 | [3] | 1,791 | [3] | 1,783 | [2] | |
Average Recorded Investment, With no related allowance | 516 | [3] | 736 | [3] | 347 | [3] | 1,029 | [3] | 621 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 15 | 15 | 29 | 30 | 60 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | 0 | 0 | ||||||
Real estate | Commercial & industrial | Mixed use | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 481 | [1] | 481 | [1] | 482 | [2] | |||||
Recorded Investment, With no related allowance | 3,482 | [1] | 3,482 | [1] | 1,589 | [2] | |||||
Related Allowance | (9) | (9) | (13) | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 497 | 497 | 497 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 3,876 | 3,876 | |||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 481 | [1] | 1,109 | [1] | 481 | [1] | 1,049 | [1] | 823 | [2] | |
Average Recorded Investment, With no related allowance | [1] | $ 2,740 | 1,292 | $ 2,356 | 1,143 | ||||||
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 10 | 20 | |||||||||
Interest Income Recognized during Impairment, With no related allowance | $ 10 | 0 | $ 21 | 0 | |||||||
Real estate | Commercial & industrial | Mixed use | Acquired | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 352 | [3] | 352 | [3] | 352 | [2] | |||||
Recorded Investment, With no related allowance | 279 | [3] | 279 | [3] | 0 | [2] | |||||
Related Allowance | (2) | (2) | (2) | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 348 | 348 | 348 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 444 | 444 | 0 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 352 | [3] | 177 | [3] | 352 | [3] | 118 | [3] | 212 | [2] | |
Average Recorded Investment, With no related allowance | 251 | [3] | 460 | [3] | 167 | [3] | 307 | [3] | 275 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 1 | 0 | 2 | 0 | 0 | ||||||
Real estate | Commercial & industrial | Industrial & warehouse | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 4,434 | [1] | 4,434 | [1] | 2,111 | [2] | |||||
Recorded Investment, With no related allowance | 9,264 | [1] | 9,264 | [1] | 14,374 | [2] | |||||
Related Allowance | (12) | (12) | (13) | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 4,434 | 4,434 | |||||||||
Unpaid Contractual Principal Balance, With no related allowance | 12,932 | 12,932 | 17,940 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 5,678 | [1] | 7,456 | [1] | 4,489 | [1] | 9,104 | [1] | 7,309 | [2] | |
Average Recorded Investment, With no related allowance | 9,362 | [1] | 9,389 | [1] | 11,033 | [1] | 7,528 | [1] | 9,311 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 42 | 76 | 84 | 151 | 119 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 77 | 83 | 154 | 160 | 494 | ||||||
Real estate | Commercial & industrial | Industrial & warehouse | Acquired | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 0 | [3] | 0 | [3] | 0 | [2] | |||||
Recorded Investment, With no related allowance | 1,125 | [3] | 1,125 | [3] | 1,737 | [2] | |||||
Related Allowance | 0 | 0 | 0 | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 0 | 0 | 0 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 1,221 | 1,221 | 1,954 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 180 | [3] | 0 | [3] | 120 | [3] | 1,709 | [3] | 1,026 | [2] | |
Average Recorded Investment, With no related allowance | 1,174 | [3] | 3,981 | [3] | 1,362 | [3] | 3,281 | [3] | 2,673 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 1 | 2 | 2 | 5 | 39 | ||||||
Real estate | Commercial & industrial | Other | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 8,779 | [1] | 8,779 | [1] | 9,781 | [2] | |||||
Recorded Investment, With no related allowance | 8,950 | [1] | 8,950 | [1] | 7,083 | [2] | |||||
Related Allowance | (1,443) | (1,443) | |||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 9,665 | 9,665 | 10,389 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 10,675 | 10,675 | 9,886 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 8,344 | [1] | 8,898 | [1] | 8,823 | [1] | 9,353 | [1] | 9,709 | [2] | |
Average Recorded Investment, With no related allowance | 9,554 | [1] | 5,828 | [1] | 8,730 | [1] | 4,401 | [1] | 5,118 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 88 | 82 | 176 | 166 | 355 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 40 | 30 | 77 | 56 | 93 | ||||||
Real estate | Commercial & industrial | Other | Acquired | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 1,288 | [3] | 1,288 | [3] | 1,763 | [2] | |||||
Recorded Investment, With no related allowance | 3,881 | [3] | 3,881 | [3] | 4,009 | [2] | |||||
Related Allowance | (62) | (62) | (17) | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 1,575 | 1,575 | 2,016 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 4,906 | 4,906 | 5,174 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 803 | [3] | 899 | [3] | 1,123 | [3] | 1,054 | [3] | 1,134 | [2] | |
Average Recorded Investment, With no related allowance | 4,426 | [3] | 4,526 | [3] | 4,287 | [3] | 3,396 | [3] | 3,798 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 4 | 2 | 8 | 4 | 5 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 10 | 12 | 21 | 20 | 41 | ||||||
Real estate | Construction | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 0 | [1] | 0 | [1] | 0 | [2] | |||||
Recorded Investment, With no related allowance | 0 | [1] | 0 | [1] | 1,521 | [2] | |||||
Related Allowance | 0 | 0 | 0 | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 0 | 0 | 0 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 0 | 0 | 1,545 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [2] | |
Average Recorded Investment, With no related allowance | 740 | [1] | 1,596 | [1] | 1,000 | [1] | 1,606 | [1] | 1,583 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 0 | 21 | 0 | 42 | 0 | ||||||
Real estate | Construction | Acquired | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 0 | [3] | 0 | [3] | 0 | [2] | |||||
Recorded Investment, With no related allowance | 0 | [3] | 0 | [3] | 0 | [2] | |||||
Related Allowance | 0 | 0 | 0 | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 0 | 0 | 0 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 0 | 0 | 0 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [2] | |
Average Recorded Investment, With no related allowance | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | 0 | 0 | ||||||
Commercial business | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 29,648 | [1] | 29,648 | [1] | 37,300 | [2] | |||||
Recorded Investment, With no related allowance | 8,395 | [1] | 8,395 | [1] | 5,307 | [2] | |||||
Related Allowance | (4,756) | (4,756) | (7,236) | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 29,961 | 29,961 | 38,730 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 10,562 | 10,562 | 6,880 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 30,030 | [1] | 28,981 | [1] | 32,453 | [1] | 30,875 | [1] | 32,798 | [2] | |
Average Recorded Investment, With no related allowance | 9,502 | [1] | 11,296 | [1] | 8,104 | [1] | 9,345 | [1] | 8,349 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 286 | 310 | 579 | 594 | 1,502 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 41 | 75 | 81 | 138 | 50 | ||||||
Commercial business | Acquired | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 736 | [3] | 736 | [3] | 769 | [2] | |||||
Recorded Investment, With no related allowance | 904 | [3] | 904 | [3] | 1,009 | [2] | |||||
Related Allowance | (373) | (373) | (307) | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 884 | 884 | 928 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 1,664 | 1,664 | 1,758 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 697 | [3] | 868 | [3] | 721 | [3] | 1,240 | [3] | 1,090 | [2] | |
Average Recorded Investment, With no related allowance | 968 | [3] | 1,853 | [3] | 982 | [3] | 1,505 | [3] | 1,321 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 4 | 3 | 9 | 4 | 15 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 17 | 7 | 33 | 10 | 4 | ||||||
Trade finance | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 5,016 | [1] | 5,016 | [1] | 4,053 | [2] | |||||
Recorded Investment, With no related allowance | 1,654 | [1] | 1,654 | [1] | 1,883 | [2] | |||||
Related Allowance | (320) | (320) | (1,312) | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 5,016 | 5,016 | 11,310 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 5,000 | 5,000 | 5,000 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 4,990 | [1] | 6,990 | [1] | 4,678 | [1] | 6,526 | [1] | 6,647 | [2] | |
Average Recorded Investment, With no related allowance | 1,524 | [1] | 634 | [1] | 1,643 | [1] | 453 | [1] | 724 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 54 | 51 | 108 | 99 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | 0 | 0 | ||||||
Trade finance | Acquired | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 0 | [3] | 0 | [3] | 0 | [2] | |||||
Recorded Investment, With no related allowance | 0 | [3] | 0 | [3] | 0 | [2] | |||||
Related Allowance | 0 | 0 | 0 | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 0 | 0 | 0 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 0 | 0 | 0 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [2] | |
Average Recorded Investment, With no related allowance | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [3] | 0 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | 0 | 0 | ||||||
Consumer and other | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 615 | [1] | 615 | [1] | 0 | [2] | |||||
Recorded Investment, With no related allowance | 1,025 | [1] | 1,025 | [1] | 1,061 | [2] | |||||
Related Allowance | (615) | (615) | 0 | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 615 | 615 | 0 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 1,094 | 1,094 | 1,118 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 314 | [1] | 0 | [1] | 209 | [1] | 178 | [1] | 114 | [2] | |
Average Recorded Investment, With no related allowance | 1,066 | [1] | 1,468 | [1] | 1,064 | [1] | 1,234 | [1] | 1,168 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 7 | 8 | 13 | 15 | 28 | ||||||
Consumer and other | Acquired | |||||||||||
Impaired Loans, Recorded Investment | |||||||||||
Recorded Investment, With related allowance | 0 | [3] | 0 | [3] | 0 | [2] | |||||
Recorded Investment, With no related allowance | 573 | [3] | 573 | [3] | 596 | [2] | |||||
Related Allowance | 0 | 0 | 0 | ||||||||
Impaired Loans, Unpaid Principal Balance | |||||||||||
Unpaid Contractual Principal Balance, With related allowance | 0 | 0 | 0 | ||||||||
Unpaid Contractual Principal Balance, With no related allowance | 642 | 642 | 652 | ||||||||
Impaired Loans, Average Recorded Investment | |||||||||||
Average Recorded Investment, With related allowance | 1 | [3] | 0 | [3] | 1 | [3] | 0 | [3] | 0 | [2] | |
Average Recorded Investment, With no related allowance | 611 | [3] | 947 | [3] | 606 | [3] | 887 | [3] | 772 | [2] | |
Impaired Loans, Interest Income Recognized during Impairment | |||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | $ 2 | $ 2 | $ 4 | $ 4 | $ 8 | ||||||
[1] | Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. | ||||||||||
[2] | Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. | ||||||||||
[3] | Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts. |
Loans Receivable and Allowanc50
Loans Receivable and Allowance for Loan Losses - Past Due Financing Receivables (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | $ 7,518 | $ 6,499 | ||
Non-accrual loans | 39,681 | [1] | 46,353 | [2] |
Total Delinquent loans | 47,199 | 52,852 | ||
Guaranteed portion of delinquent SBA loans excluded from Nonaccrual loans | 22,600 | 28,900 | ||
Legacy | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 5,336 | 3,895 | ||
Non-accrual loans | 25,332 | [1] | 28,815 | [2] |
Total Delinquent loans | 30,668 | 32,710 | ||
Legacy | Real estate | Residential | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
Non-accrual loans | 0 | [1] | 0 | [2] |
Total Delinquent loans | 0 | 0 | ||
Legacy | Real estate | Commercial & industrial | Retail | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 1,126 | 552 | ||
Non-accrual loans | 2,558 | [1] | 4,586 | [2] |
Total Delinquent loans | 3,684 | 5,138 | ||
Legacy | Real estate | Commercial & industrial | Hotel & motel | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 299 | ||
Non-accrual loans | 945 | [1] | 2,336 | [2] |
Total Delinquent loans | 945 | 2,635 | ||
Legacy | Real estate | Commercial & industrial | Gas station & car wash | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 900 | 0 | ||
Non-accrual loans | 2,971 | [1] | 2,105 | [2] |
Total Delinquent loans | 3,871 | 2,105 | ||
Legacy | Real estate | Commercial & industrial | Mixed use | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 434 | 437 | ||
Non-accrual loans | 2,552 | [1] | 930 | [2] |
Total Delinquent loans | 2,986 | 1,367 | ||
Legacy | Real estate | Commercial & industrial | Industrial & warehouse | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 113 | 208 | ||
Non-accrual loans | 1,220 | [1] | 2,335 | [2] |
Total Delinquent loans | 1,333 | 2,543 | ||
Legacy | Real estate | Commercial & industrial | Other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 979 | ||
Non-accrual loans | 2,831 | [1] | 2,150 | [2] |
Total Delinquent loans | 2,831 | 3,129 | ||
Legacy | Real estate | Construction | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
Non-accrual loans | 0 | [1] | 1,521 | [2] |
Total Delinquent loans | 0 | 1,521 | ||
Legacy | Commercial business | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 801 | 1,384 | ||
Non-accrual loans | 9,431 | [1] | 9,640 | [2] |
Total Delinquent loans | 10,232 | 11,024 | ||
Legacy | Trade finance | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 1,933 | 0 | ||
Non-accrual loans | 1,954 | [1] | 3,194 | [2] |
Total Delinquent loans | 3,887 | 3,194 | ||
Legacy | Consumer and other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 29 | 36 | ||
Non-accrual loans | 870 | [1] | 18 | [2] |
Total Delinquent loans | 899 | 54 | ||
Acquired | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 2,182 | [3] | 2,604 | [4] |
Non-accrual loans | 14,349 | [1],[3] | 17,538 | [2],[4] |
Total Delinquent loans | 16,531 | [3] | 20,142 | [4] |
Acquired | Real estate | Residential | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
Non-accrual loans | 0 | [1],[3] | 0 | [4] |
Total Delinquent loans | 0 | [3] | 0 | [4] |
Acquired | Real estate | Commercial & industrial | Retail | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 1,510 | [3] | 1,402 | [4] |
Non-accrual loans | 1,334 | [1],[3] | 2,792 | [4] |
Total Delinquent loans | 2,844 | [3] | 4,194 | [4] |
Acquired | Real estate | Commercial & industrial | Hotel & motel | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 286 | [3] | 0 | [4] |
Non-accrual loans | 5,448 | [1],[3] | 5,591 | [4] |
Total Delinquent loans | 5,734 | [3] | 5,591 | [4] |
Acquired | Real estate | Commercial & industrial | Gas station & car wash | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
Non-accrual loans | 695 | [1],[3] | 736 | [4] |
Total Delinquent loans | 695 | [3] | 736 | [4] |
Acquired | Real estate | Commercial & industrial | Mixed use | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 47 | [3] | 345 | [4] |
Non-accrual loans | 567 | [1],[3] | 352 | [4] |
Total Delinquent loans | 614 | [3] | 697 | [4] |
Acquired | Real estate | Commercial & industrial | Industrial & warehouse | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 361 | [4] |
Non-accrual loans | 1,053 | [1],[3] | 1,185 | [4] |
Total Delinquent loans | 1,053 | [3] | 1,546 | [4] |
Acquired | Real estate | Commercial & industrial | Other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
Non-accrual loans | 3,748 | [1],[3] | 4,370 | [4] |
Total Delinquent loans | 3,748 | [3] | 4,370 | [4] |
Acquired | Real estate | Construction | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 333 | [3] | 0 | [4] |
Non-accrual loans | 646 | [1],[3] | 0 | [4] |
Total Delinquent loans | 979 | [3] | 0 | [4] |
Acquired | Commercial business | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 383 | [4] |
Non-accrual loans | 0 | [1],[3] | 1,468 | [4] |
Total Delinquent loans | 0 | [3] | 1,851 | [4] |
Acquired | Trade finance | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
Non-accrual loans | 0 | [1],[3] | 0 | [4] |
Total Delinquent loans | 0 | [3] | 0 | [4] |
Acquired | Consumer and other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 6 | [3] | 113 | [4] |
Non-accrual loans | 858 | [1],[3] | 1,044 | [4] |
Total Delinquent loans | 864 | [3] | 1,157 | [4] |
30 to 59 Days Past Due | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 5,010 | 3,889 | ||
30 to 59 Days Past Due | Legacy | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 3,457 | 2,083 | ||
30 to 59 Days Past Due | Legacy | Real estate | Residential | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
30 to 59 Days Past Due | Legacy | Real estate | Commercial & industrial | Retail | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 901 | 201 | ||
30 to 59 Days Past Due | Legacy | Real estate | Commercial & industrial | Hotel & motel | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 299 | ||
30 to 59 Days Past Due | Legacy | Real estate | Commercial & industrial | Gas station & car wash | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
30 to 59 Days Past Due | Legacy | Real estate | Commercial & industrial | Mixed use | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 437 | ||
30 to 59 Days Past Due | Legacy | Real estate | Commercial & industrial | Industrial & warehouse | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
30 to 59 Days Past Due | Legacy | Real estate | Commercial & industrial | Other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 455 | ||
30 to 59 Days Past Due | Legacy | Real estate | Construction | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
30 to 59 Days Past Due | Legacy | Commercial business | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 594 | 655 | ||
30 to 59 Days Past Due | Legacy | Trade finance | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 1,933 | 0 | ||
30 to 59 Days Past Due | Legacy | Consumer and other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 29 | 36 | ||
30 to 59 Days Past Due | Acquired | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 1,553 | [3] | 1,806 | [4] |
30 to 59 Days Past Due | Acquired | Real estate | Residential | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
30 to 59 Days Past Due | Acquired | Real estate | Commercial & industrial | Retail | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 1,442 | [3] | 1,402 | [4] |
30 to 59 Days Past Due | Acquired | Real estate | Commercial & industrial | Hotel & motel | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
30 to 59 Days Past Due | Acquired | Real estate | Commercial & industrial | Gas station & car wash | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
30 to 59 Days Past Due | Acquired | Real estate | Commercial & industrial | Mixed use | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 345 | [4] |
30 to 59 Days Past Due | Acquired | Real estate | Commercial & industrial | Industrial & warehouse | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
30 to 59 Days Past Due | Acquired | Real estate | Commercial & industrial | Other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
30 to 59 Days Past Due | Acquired | Real estate | Construction | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 105 | [3] | 0 | [4] |
30 to 59 Days Past Due | Acquired | Commercial business | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 36 | [4] |
30 to 59 Days Past Due | Acquired | Trade finance | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
30 to 59 Days Past Due | Acquired | Consumer and other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 6 | [3] | 23 | [4] |
60 to 89 Days Past Due | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 2,175 | 2,249 | ||
60 to 89 Days Past Due | Legacy | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 1,546 | 1,812 | ||
60 to 89 Days Past Due | Legacy | Real estate | Residential | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
60 to 89 Days Past Due | Legacy | Real estate | Commercial & industrial | Retail | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 225 | 351 | ||
60 to 89 Days Past Due | Legacy | Real estate | Commercial & industrial | Hotel & motel | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
60 to 89 Days Past Due | Legacy | Real estate | Commercial & industrial | Gas station & car wash | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 567 | 0 | ||
60 to 89 Days Past Due | Legacy | Real estate | Commercial & industrial | Mixed use | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 434 | 0 | ||
60 to 89 Days Past Due | Legacy | Real estate | Commercial & industrial | Industrial & warehouse | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 113 | 208 | ||
60 to 89 Days Past Due | Legacy | Real estate | Commercial & industrial | Other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 524 | ||
60 to 89 Days Past Due | Legacy | Real estate | Construction | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
60 to 89 Days Past Due | Legacy | Commercial business | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 207 | 729 | ||
60 to 89 Days Past Due | Legacy | Trade finance | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
60 to 89 Days Past Due | Legacy | Consumer and other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
60 to 89 Days Past Due | Acquired | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 629 | [3] | 437 | [4] |
60 to 89 Days Past Due | Acquired | Real estate | Residential | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
60 to 89 Days Past Due | Acquired | Real estate | Commercial & industrial | Retail | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 68 | [3] | 0 | [4] |
60 to 89 Days Past Due | Acquired | Real estate | Commercial & industrial | Hotel & motel | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 286 | [3] | 0 | [4] |
60 to 89 Days Past Due | Acquired | Real estate | Commercial & industrial | Gas station & car wash | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
60 to 89 Days Past Due | Acquired | Real estate | Commercial & industrial | Mixed use | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 47 | [3] | 0 | [4] |
60 to 89 Days Past Due | Acquired | Real estate | Commercial & industrial | Industrial & warehouse | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
60 to 89 Days Past Due | Acquired | Real estate | Commercial & industrial | Other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
60 to 89 Days Past Due | Acquired | Real estate | Construction | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 228 | [3] | 0 | [4] |
60 to 89 Days Past Due | Acquired | Commercial business | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 347 | [4] |
60 to 89 Days Past Due | Acquired | Trade finance | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
60 to 89 Days Past Due | Acquired | Consumer and other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 90 | [4] |
90 or More Days Past Due | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 333 | 361 | ||
90 or More Days Past Due | Legacy | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 333 | 0 | ||
90 or More Days Past Due | Legacy | Real estate | Residential | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
90 or More Days Past Due | Legacy | Real estate | Commercial & industrial | Retail | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
90 or More Days Past Due | Legacy | Real estate | Commercial & industrial | Hotel & motel | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
90 or More Days Past Due | Legacy | Real estate | Commercial & industrial | Gas station & car wash | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 333 | 0 | ||
90 or More Days Past Due | Legacy | Real estate | Commercial & industrial | Mixed use | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
90 or More Days Past Due | Legacy | Real estate | Commercial & industrial | Industrial & warehouse | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
90 or More Days Past Due | Legacy | Real estate | Commercial & industrial | Other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
90 or More Days Past Due | Legacy | Real estate | Construction | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
90 or More Days Past Due | Legacy | Commercial business | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
90 or More Days Past Due | Legacy | Trade finance | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
90 or More Days Past Due | Legacy | Consumer and other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | 0 | ||
90 or More Days Past Due | Acquired | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 361 | [4] |
90 or More Days Past Due | Acquired | Real estate | Residential | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
90 or More Days Past Due | Acquired | Real estate | Commercial & industrial | Retail | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
90 or More Days Past Due | Acquired | Real estate | Commercial & industrial | Hotel & motel | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
90 or More Days Past Due | Acquired | Real estate | Commercial & industrial | Gas station & car wash | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
90 or More Days Past Due | Acquired | Real estate | Commercial & industrial | Mixed use | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
90 or More Days Past Due | Acquired | Real estate | Commercial & industrial | Industrial & warehouse | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 361 | [4] |
90 or More Days Past Due | Acquired | Real estate | Commercial & industrial | Other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
90 or More Days Past Due | Acquired | Real estate | Construction | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
90 or More Days Past Due | Acquired | Commercial business | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
90 or More Days Past Due | Acquired | Trade finance | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | 0 | [3] | 0 | [4] |
90 or More Days Past Due | Acquired | Consumer and other | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total Past Due | $ 0 | [3] | $ 0 | [4] |
[1] | Nonaccrual loans exclude the guaranteed portion of delinquent SBA loans that are in liquidation totaling $22.6 million. | |||
[2] | Nonaccrual loans exclude guaranteed portion of delinquent SBA loans that are in liquidation totaling $28.9 million. | |||
[3] | The Acquired Loans exclude ACILs. | |||
[4] | The Acquired Loans exclude ACILs. |
Loans Receivable and Allowanc51
Loans Receivable and Allowance for Loan Losses - Financing Receivable Credit Quality Indicators (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 5,818,822 | $ 5,568,082 |
Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 5,493,638 | 5,221,685 |
Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 129,795 | 122,335 |
Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 193,336 | 221,875 |
Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,053 | 2,187 |
Real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,645,401 | 4,439,850 |
Real estate | Residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 36,706 | 21,415 |
Real estate | Commercial & industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,503,794 | 4,324,349 |
Real estate | Construction | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 104,901 | 94,086 |
Commercial business | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 970,787 | 903,621 |
Trade finance | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 114,927 | 134,762 |
Consumer and other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 87,707 | 89,849 |
Legacy | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 5,295,008 | 4,919,570 |
Legacy | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 5,088,989 | 4,709,070 |
Legacy | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 102,725 | 96,092 |
Legacy | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 103,074 | 114,369 |
Legacy | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 220 | 39 |
Legacy | Real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,225,723 | 3,921,795 |
Legacy | Real estate | Residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 35,985 | 20,586 |
Legacy | Real estate | Residential | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 35,985 | 20,586 |
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 & industrial | Retail | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,012,667 | 1,050,177 |
Legacy | Real estate | Commercial & industrial | Retail | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 975,319 | 1,015,195 |
Legacy | Real estate | Commercial & industrial | Retail | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 23,326 | 20,177 |
Legacy | Real estate | Commercial & industrial | Retail | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 14,022 | 14,805 |
Legacy | Real estate | Commercial & industrial | Retail | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Legacy | Real estate | Commercial & industrial | Hotel & motel | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 896,805 | 792,446 |
Legacy | Real estate | Commercial & industrial | Hotel & motel | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 889,763 | 784,586 |
Legacy | Real estate | Commercial & industrial | Hotel & motel | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 113 | 114 |
Legacy | Real estate | Commercial & industrial | Hotel & motel | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 6,929 | 7,746 |
Legacy | Real estate | Commercial & industrial | Hotel & motel | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Legacy | Real estate | Commercial & industrial | Gas station & car wash | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 587,367 | 562,758 |
Legacy | Real estate | Commercial & industrial | Gas station & car wash | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 573,688 | 553,901 |
Legacy | Real estate | Commercial & industrial | Gas station & car wash | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,814 | 0 |
Legacy | Real estate | Commercial & industrial | Gas station & car wash | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,865 | 8,857 |
Legacy | Real estate | Commercial & industrial | Gas station & car wash | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Legacy | Real estate | Commercial & industrial | Mixed use | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 307,264 | 291,743 |
Legacy | Real estate | Commercial & industrial | Mixed use | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 303,047 | 288,409 |
Legacy | Real estate | Commercial & industrial | Mixed use | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 787 | 1,147 |
Legacy | Real estate | Commercial & industrial | Mixed use | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,430 | 2,187 |
Legacy | Real estate | Commercial & industrial | Mixed use | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Legacy | Real estate | Commercial & industrial | Industrial & warehouse | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 440,152 | 369,299 |
Legacy | Real estate | Commercial & industrial | Industrial & warehouse | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 422,067 | 347,805 |
Legacy | Real estate | Commercial & industrial | Industrial & warehouse | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,508 | 9,181 |
Legacy | Real estate | Commercial & industrial | Industrial & warehouse | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,577 | 12,313 |
Legacy | Real estate | Commercial & industrial | Industrial & warehouse | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Legacy | Real estate | Commercial & industrial | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 840,582 | 740,701 |
Legacy | Real estate | Commercial & industrial | Other | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 796,285 | 699,644 |
Legacy | Real estate | Commercial & industrial | Other | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 29,621 | 28,044 |
Legacy | Real estate | Commercial & industrial | Other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 14,676 | 13,013 |
Legacy | Real estate | Commercial & industrial | Other | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Legacy | Real estate | Construction | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 104,901 | 94,085 |
Legacy | Real estate | Construction | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 104,901 | 92,564 |
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 | 0 | 1,521 |
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 | 912,260 | 825,236 |
Legacy | Commercial business | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 853,739 | 765,280 |
Legacy | Commercial business | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 20,092 | 18,792 |
Legacy | Commercial business | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 38,219 | 41,138 |
Legacy | Commercial business | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 210 | 26 |
Legacy | Trade finance | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 114,927 | 134,762 |
Legacy | Trade finance | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 93,430 | 103,844 |
Legacy | Trade finance | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,458 | 18,599 |
Legacy | Trade finance | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 10,039 | 12,319 |
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 | 42,098 | 37,777 |
Legacy | Consumer and other | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 40,765 | 37,256 |
Legacy | Consumer and other | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 6 | 38 |
Legacy | Consumer and other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,317 | 470 |
Legacy | Consumer and other | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 10 | 13 |
Acquired | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 523,814 | 648,512 |
Acquired | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 404,649 | 512,615 |
Acquired | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 27,070 | 26,243 |
Acquired | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 90,262 | 107,506 |
Acquired | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,833 | 2,148 |
Acquired | Real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 419,678 | 518,055 |
Acquired | Real estate | Residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 721 | 829 |
Acquired | Real estate | Residential | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 436 | 539 |
Acquired | Real estate | Residential | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 285 | 290 |
Acquired | Real estate | Residential | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired | Real estate | Residential | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired | Real estate | Commercial & industrial | Retail | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 163,503 | 186,485 |
Acquired | Real estate | Commercial & industrial | Retail | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 141,896 | 157,485 |
Acquired | Real estate | Commercial & industrial | Retail | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,617 | 3,531 |
Acquired | Real estate | Commercial & industrial | Retail | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 17,990 | 25,469 |
Acquired | Real estate | Commercial & industrial | Retail | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired | Real estate | Commercial & industrial | Hotel & motel | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 56,825 | 82,366 |
Acquired | Real estate | Commercial & industrial | Hotel & motel | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 37,499 | 69,236 |
Acquired | Real estate | Commercial & industrial | Hotel & motel | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 6,214 | 3,889 |
Acquired | Real estate | Commercial & industrial | Hotel & motel | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 13,112 | 9,241 |
Acquired | Real estate | Commercial & industrial | Hotel & motel | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired | Real estate | Commercial & industrial | Gas station & car wash | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 32,721 | 37,115 |
Acquired | Real estate | Commercial & industrial | Gas station & car wash | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 25,251 | 27,936 |
Acquired | Real estate | Commercial & industrial | Gas station & car wash | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 381 | 369 |
Acquired | Real estate | Commercial & industrial | Gas station & car wash | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 7,089 | 8,542 |
Acquired | Real estate | Commercial & industrial | Gas station & car wash | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 268 |
Acquired | Real estate | Commercial & industrial | Mixed use | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 33,132 | 35,892 |
Acquired | Real estate | Commercial & industrial | Mixed use | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 18,681 | 25,843 |
Acquired | Real estate | Commercial & industrial | Mixed use | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,626 | 7,001 |
Acquired | Real estate | Commercial & industrial | Mixed use | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,825 | 3,048 |
Acquired | Real estate | Commercial & industrial | Mixed use | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired | Real estate | Commercial & industrial | Industrial & warehouse | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 57,622 | 81,058 |
Acquired | Real estate | Commercial & industrial | Industrial & warehouse | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 45,691 | 66,214 |
Acquired | Real estate | Commercial & industrial | Industrial & warehouse | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,237 | 667 |
Acquired | Real estate | Commercial & industrial | Industrial & warehouse | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 10,694 | 14,177 |
Acquired | Real estate | Commercial & industrial | Industrial & warehouse | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired | Real estate | Commercial & industrial | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 75,154 | 94,310 |
Acquired | Real estate | Commercial & industrial | Other | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 61,192 | 76,956 |
Acquired | Real estate | Commercial & industrial | Other | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 529 | 2,076 |
Acquired | Real estate | Commercial & industrial | Other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 13,016 | 15,242 |
Acquired | Real estate | Commercial & industrial | Other | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 417 | 36 |
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 | 58,527 | 78,385 |
Acquired | Commercial business | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 38,317 | 48,270 |
Acquired | Commercial business | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,547 | 6,331 |
Acquired | Commercial business | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 18,142 | 22,721 |
Acquired | Commercial business | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 521 | 1,063 |
Acquired | Trade finance | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired | Trade finance | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
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 | 45,609 | 52,072 |
Acquired | Consumer and other | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 35,686 | 40,136 |
Acquired | Consumer and other | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,634 | 2,089 |
Acquired | Consumer and other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 7,394 | 9,066 |
Acquired | Consumer and other | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 895 | $ 781 |
Loans Receivable and Allowanc52
Loans Receivable and Allowance for Loan Losses - Loans Held For Investment - Reclassification to Held for Sale (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Sale or reclassification to held for sale | $ 1,323 | $ 0 | $ 1,773 | $ 34 |
Commercial & industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Sale or reclassification to held for sale | $ 235 | $ 0 | $ 685 | $ 34 |
Loans Receivable and Allowanc53
Loans Receivable and Allowance for Loan Losses - Allowance for Loans, by Portfolio Segment and Impairment Method (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
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) | $ 118,698 | $ 127,145 | ||||
Specific allowance | $ 8,065 | $ 10,922 | ||||
Loss coverage ratio | 6.80% | 8.60% | ||||
Non-impaired loans | $ 5,700,124 | $ 5,440,937 | ||||
General allowance | $ 62,053 | $ 56,836 | ||||
Loss coverage ratio | 1.10% | 1.00% | ||||
Total loans outstanding | $ 5,818,822 | $ 5,568,082 | ||||
Allowance for loan losses - Total | $ 70,118 | $ 69,594 | $ 67,758 | $ 66,870 | $ 65,699 | $ 67,320 |
Loss coverage ratio | 1.20% | 1.20% | ||||
Real estate | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans outstanding | $ 4,645,401 | $ 4,439,850 | ||||
Real estate | Residential | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (gross carrying value) | 0 | 0 | ||||
Specific allowance | 0 | 0 | ||||
Non-impaired loans | 36,706 | 21,415 | ||||
General allowance | $ 247 | $ 146 | ||||
Loss coverage ratio | 0.70% | 0.70% | ||||
Total loans outstanding | $ 36,706 | $ 21,415 | ||||
Allowance for loan losses - Total | $ 247 | $ 146 | ||||
Loss coverage ratio | 0.70% | 0.70% | ||||
Real estate | Commercial & industrial | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (gross carrying value) | $ 72,345 | $ 76,020 | ||||
Specific allowance | $ 2,374 | $ 2,374 | ||||
Loss coverage ratio | 3.30% | 3.10% | ||||
Non-impaired loans | $ 4,431,449 | $ 4,248,329 | ||||
General allowance | $ 47,773 | $ 44,161 | ||||
Loss coverage ratio | 1.10% | 1.00% | ||||
Total loans outstanding | $ 4,503,794 | $ 4,324,349 | ||||
Allowance for loan losses - Total | $ 50,147 | $ 46,535 | ||||
Loss coverage ratio | 1.10% | 1.10% | ||||
Real estate | Construction | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (gross carrying value) | $ 0 | $ 1,521 | ||||
Specific allowance | 0 | $ 0 | ||||
Loss coverage ratio | 0.00% | |||||
Non-impaired loans | 104,901 | $ 92,565 | ||||
General allowance | $ 593 | $ 667 | ||||
Loss coverage ratio | 0.60% | 0.70% | ||||
Total loans outstanding | $ 104,901 | $ 94,086 | ||||
Allowance for loan losses - Total | $ 593 | $ 667 | ||||
Loss coverage ratio | 0.60% | 0.70% | ||||
Commercial business | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (gross carrying value) | $ 38,044 | $ 42,607 | ||||
Specific allowance | $ 4,756 | $ 7,236 | ||||
Loss coverage ratio | 12.50% | 17.00% | ||||
Non-impaired loans | $ 932,743 | $ 861,014 | ||||
General allowance | $ 11,522 | $ 9,235 | ||||
Loss coverage ratio | 1.20% | 1.10% | ||||
Total loans outstanding | $ 970,787 | $ 903,621 | ||||
Allowance for loan losses - Total | $ 16,278 | $ 16,471 | ||||
Loss coverage ratio | 1.70% | 1.80% | ||||
Trade finance | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (gross carrying value) | $ 6,670 | $ 5,936 | ||||
Specific allowance | $ 320 | $ 1,312 | ||||
Loss coverage ratio | 4.80% | 22.10% | ||||
Non-impaired loans | $ 108,257 | $ 128,826 | ||||
General allowance | $ 1,440 | $ 2,144 | ||||
Loss coverage ratio | 1.30% | 1.70% | ||||
Total loans outstanding | $ 114,927 | $ 134,762 | ||||
Allowance for loan losses - Total | $ 1,760 | $ 3,456 | ||||
Loss coverage ratio | 1.50% | 2.60% | ||||
Consumer and other | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (gross carrying value) | $ 1,639 | $ 1,061 | ||||
Specific allowance | $ 615 | $ 0 | ||||
Loss coverage ratio | 37.50% | 0.00% | ||||
Non-impaired loans | $ 86,068 | $ 88,788 | ||||
General allowance | $ 478 | $ 483 | ||||
Loss coverage ratio | 0.60% | 0.50% | ||||
Total loans outstanding | $ 87,707 | $ 89,849 | ||||
Allowance for loan losses - Total | $ 1,093 | $ 483 | ||||
Loss coverage ratio | 1.20% | 0.50% |
Loans Receivable and Allowanc54
Loans Receivable and Allowance for Loan Losses - Troubled Debt Restructurings on Financing Receivables (Details) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015USD ($)loan | Jun. 30, 2014USD ($)loan | Jun. 30, 2015USD ($)loan | Dec. 31, 2014USD ($)loan | |
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | $ 75,406,000 | $ 75,406,000 | $ 76,144,000 | |
Number of modified contracts | loan | 10 | 15 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 4,939,000 | $ 6,934,000 | ||
Post-Modification | $ 4,760,000 | $ 6,668,000 | ||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 12 | 12 | ||
Balance | $ 4,555,000 | $ 4,555,000 | ||
Specific reserves | 2,368,000 | 2,400,000 | ||
Specific reserves for the TDRs | 2,357,000 | 2,400,000 | ||
Charge offs | 0 | 0 | ||
Specific reserves allocated to TDRs | 5,900,000 | 5,900,000 | 5,700,000 | |
Troubled debt restructuring , charge offs | 0 | 42,000 | ||
Payment concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 20,692,000 | 20,692,000 | 17,148,000 | |
Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 28,427,000 | 28,427,000 | 31,544,000 | |
Rate concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 26,276,000 | 26,276,000 | 27,437,000 | |
Principal forgiveness | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 11,000 | 11,000 | 15,000 | |
TDR on accrual | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 57,393,000 | 57,393,000 | 57,128,000 | |
TDR on accrual | Payment concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 12,350,000 | 12,350,000 | 12,791,000 | |
TDR on accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 26,400,000 | 26,400,000 | 25,629,000 | |
TDR on accrual | Rate concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 18,643,000 | 18,643,000 | 18,708,000 | |
TDR on accrual | Principal forgiveness | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 0 | 0 | 0 | |
TDR on non-accrual | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 18,013,000 | 18,013,000 | 19,016,000 | |
TDR on non-accrual | Payment concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 8,342,000 | 8,342,000 | 4,357,000 | |
TDR on non-accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 2,027,000 | 2,027,000 | 5,915,000 | |
TDR on non-accrual | Rate concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 7,633,000 | 7,633,000 | 8,729,000 | |
TDR on non-accrual | Principal forgiveness | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 11,000 | $ 11,000 | 15,000 | |
Commercial & industrial | TDR on accrual | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | $ 28,108,000 | |||
Number of modified contracts | loan | 25 | 24 | ||
Real estate | Commercial & industrial | TDR on accrual | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 28,894,000 | $ 28,894,000 | $ 28,108,000 | |
Real estate | Commercial & industrial | TDR on accrual | Payment concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 11,885,000 | 11,885,000 | 12,235,000 | |
Real estate | Commercial & industrial | TDR on accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 3,568,000 | 3,568,000 | 2,189,000 | |
Real estate | Commercial & industrial | TDR on accrual | Rate concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 13,441,000 | 13,441,000 | 13,684,000 | |
Real estate | Commercial & industrial | TDR on accrual | Principal forgiveness | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 0 | 0 | 0 | |
Real estate | Commercial & industrial | TDR on non-accrual | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 12,561,000 | 12,561,000 | 13,520,000 | |
Real estate | Commercial & industrial | TDR on non-accrual | Payment concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 3,888,000 | 3,888,000 | 3,840,000 | |
Real estate | Commercial & industrial | TDR on non-accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 1,250,000 | 1,250,000 | 1,207,000 | |
Real estate | Commercial & industrial | TDR on non-accrual | Rate concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 7,423,000 | 7,423,000 | 8,473,000 | |
Real estate | Commercial & industrial | TDR on non-accrual | Principal forgiveness | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 0 | 0 | 0 | |
Commercial business | TDR on accrual | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 24,433,000 | $ 24,433,000 | $ 25,633,000 | |
Number of modified contracts | loan | 31 | 30 | ||
Commercial business | TDR on accrual | Payment concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 465,000 | $ 465,000 | $ 556,000 | |
Commercial business | TDR on accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 18,766,000 | 18,766,000 | 20,053,000 | |
Commercial business | TDR on accrual | Rate concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 5,202,000 | 5,202,000 | 5,024,000 | |
Commercial business | TDR on accrual | Principal forgiveness | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 0 | 0 | 0 | |
Commercial business | TDR on non-accrual | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 5,049,000 | 5,049,000 | 3,770,000 | |
Commercial business | TDR on non-accrual | Payment concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 4,454,000 | 4,454,000 | 517,000 | |
Commercial business | TDR on non-accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 545,000 | 545,000 | 3,158,000 | |
Commercial business | TDR on non-accrual | Rate concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 39,000 | 39,000 | 80,000 | |
Commercial business | TDR on non-accrual | Principal forgiveness | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 11,000 | 11,000 | 15,000 | |
Trade Finance and Other | TDR on accrual | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 4,066,000 | 4,066,000 | 3,387,000 | |
Trade Finance and Other | TDR on accrual | Payment concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 0 | 0 | 0 | |
Trade Finance and Other | TDR on accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 4,066,000 | 4,066,000 | 3,387,000 | |
Trade Finance and Other | TDR on accrual | Rate concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 0 | 0 | 0 | |
Trade Finance and Other | TDR on accrual | Principal forgiveness | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 0 | 0 | 0 | |
Trade Finance and Other | TDR on non-accrual | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 403,000 | 403,000 | 1,726,000 | |
Trade Finance and Other | TDR on non-accrual | Payment concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 0 | 0 | 0 | |
Trade Finance and Other | TDR on non-accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 232,000 | 232,000 | 1,550,000 | |
Trade Finance and Other | TDR on non-accrual | Rate concession | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 171,000 | 171,000 | 176,000 | |
Trade Finance and Other | TDR on non-accrual | Principal forgiveness | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | 0 | 0 | 0 | |
Consumer and other | TDR on accrual | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled debt restructured | $ 4,066,000 | $ 4,066,000 | $ 3,387,000 | |
Number of modified contracts | loan | 3 | 3 | ||
Legacy | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 9 | 14 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 4,875,000 | $ 6,870,000 | ||
Post-Modification | $ 4,696,000 | $ 6,604,000 | ||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 11 | 11 | ||
Balance | $ 4,524,000 | $ 4,524,000 | ||
Legacy | Real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 0 | 0 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 0 | $ 0 | ||
Post-Modification | $ 0 | $ 0 | ||
Legacy | Real estate | Payment concession | ||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 2 | |||
Legacy | Real estate | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member] | ||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 1 | |||
Balance | $ 325,000 | |||
Legacy | Real estate | Retail | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 1 | 1 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 255,000 | $ 255,000 | ||
Post-Modification | $ 253,000 | 253,000 | ||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 0 | |||
Balance | $ 0 | $ 0 | ||
Legacy | Real estate | Hotel & motel | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 0 | 0 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 0 | $ 0 | ||
Post-Modification | $ 0 | $ 0 | ||
Legacy | Real estate | Gas station & car wash | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 0 | 1 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 0 | $ 142,000 | ||
Post-Modification | $ 0 | $ 131,000 | ||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 1 | 1 | ||
Balance | $ 131,000 | $ 131,000 | ||
Legacy | Real estate | Mixed use | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 0 | 0 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 0 | $ 0 | ||
Post-Modification | $ 0 | $ 0 | ||
Legacy | Real estate | Industrial & warehouse | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 0 | 0 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 0 | $ 0 | ||
Post-Modification | $ 0 | $ 0 | ||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 1 | 1 | ||
Balance | $ 21,000 | $ 21,000 | ||
Legacy | Real estate | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 0 | 2 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 0 | $ 1,762,000 | ||
Post-Modification | $ 0 | $ 1,734,000 | ||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 1 | 1 | ||
Balance | $ 325,000 | $ 325,000 | ||
Legacy | Real estate | Commercial & industrial | Rate concession | ||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 0 | |||
Legacy | Commercial business | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 8 | 10 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 4,620,000 | $ 4,711,000 | ||
Post-Modification | $ 4,443,000 | $ 4,486,000 | ||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 8 | 8 | ||
Balance | $ 4,047,000 | $ 4,047,000 | ||
Legacy | Commercial business | Payment concession | ||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 8 | |||
Balance | $ 4,047,000 | |||
Legacy | Trade finance | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 0 | 0 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 0 | $ 0 | ||
Post-Modification | $ 0 | $ 0 | ||
Legacy | Consumer and other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 0 | 0 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 0 | $ 0 | ||
Post-Modification | $ 0 | $ 0 | ||
Acquired | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 1 | 1 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 64,000 | $ 64,000 | ||
Post-Modification | $ 64,000 | $ 64,000 | ||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 1 | 1 | ||
Balance | $ 31,000 | $ 31,000 | ||
Acquired | Real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 0 | 0 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 0 | $ 0 | ||
Post-Modification | $ 0 | $ 0 | ||
Acquired | Real estate | Retail | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 0 | 0 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 0 | $ 0 | ||
Post-Modification | $ 0 | $ 0 | ||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 0 | 0 | ||
Balance | $ 0 | $ 0 | ||
Acquired | Real estate | Hotel & motel | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 0 | 0 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 0 | $ 0 | ||
Post-Modification | $ 0 | $ 0 | ||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 0 | 0 | ||
Balance | $ 0 | $ 0 | ||
Acquired | Real estate | Gas station & car wash | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 0 | 0 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 0 | $ 0 | ||
Post-Modification | $ 0 | $ 0 | ||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 0 | 0 | ||
Balance | $ 0 | $ 0 | ||
Acquired | Real estate | Mixed use | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 1 | 1 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 64,000 | $ 64,000 | ||
Post-Modification | $ 64,000 | $ 64,000 | ||
Acquired | Real estate | Industrial & warehouse | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 0 | 0 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 0 | $ 0 | ||
Post-Modification | $ 0 | $ 0 | ||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 0 | 0 | ||
Balance | $ 0 | $ 0 | ||
Acquired | Real estate | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 0 | 0 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 0 | $ 0 | ||
Post-Modification | $ 0 | $ 0 | ||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 0 | 0 | ||
Balance | $ 0 | $ 0 | ||
Acquired | Commercial business | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 0 | 0 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 0 | $ 0 | ||
Post-Modification | $ 0 | $ 0 | ||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 1 | 1 | ||
Balance | $ 31,000 | $ 31,000 | ||
Acquired | Commercial business | Payment concession | ||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | ||||
Number of Loans | loan | 1 | |||
Balance | $ 31,000 | |||
Acquired | Trade finance | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 0 | 0 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 0 | $ 0 | ||
Post-Modification | $ 0 | $ 0 | ||
Acquired | Consumer and other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of modified contracts | loan | 0 | 0 | ||
Troubled Debt Restructuring, By Loan Class | ||||
Pre-Modification | $ 0 | $ 0 | ||
Post-Modification | $ 0 | $ 0 |
Loans Receivable and Allowanc55
Loans Receivable and Allowance for Loan Losses - Covered Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Covered Nonperforming Assets | ||
Covered loans on non-accrual status | $ 1,172 | $ 1,355 |
Covered other real estate owned | 956 | 96 |
Total covered nonperforming assets | 2,128 | 1,451 |
Acquired covered loans | $ 27,259 | $ 32,560 |
Loans Receivable and Allowanc56
Loans Receivable and Allowance for Loan Losses - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Receivables [Abstract] | |||||
Commitment to lend | $ 1,427 | $ 1,427 | $ 1,573 | ||
Recognized provision for credit losses related to unfunded commitments | $ 95 | $ 547 | $ (146) | $ 588 | |
Positive or Negative Qualitative Adjustment of the Loss Migration Ratio or Individual Specific Reserve Allocations, In Basis Points | 0.50% | 0.50% | |||
Due from Related Parties | $ 3,600 | $ 3,600 | $ 3,700 |
Borrowings - Maturities of FHLB
Borrowings - Maturities of FHLB Borrowings (Details) $ in Thousands | Jun. 30, 2015USD ($) |
Contractual Maturities | |
Extinguishment of Debt [Line Items] | |
Due within one year | $ 165,000 |
Due after one year through five years | 415,785 |
Total | 580,785 |
Maturity/Put Date | |
Extinguishment of Debt [Line Items] | |
Due within one year | 185,785 |
Due after one year through five years | 395,000 |
Total | $ 580,785 |
Borrowings - Narrative (Details
Borrowings - Narrative (Details) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | ||
Percent of assets | 30.00% | |
Maximum borrowing capacity | $ 2,230,000,000 | $ 2,170,000,000 |
Percent outstanding advances | 100.00% | |
Borrowings | $ 580,785,000 | $ 480,975,000 |
Weighted average interest rate | 1.05% | 1.09% |
Interest rate, range minimum | 0.21% | |
Interest rate, range maximum | 2.02% | |
Unused funds | $ 1,650,000,000 | |
Percent of qualifying assets | 95.00% | |
Mortgage Loans on Real Estate | ||
Debt Instrument [Line Items] | ||
Pledged as collateral | $ 2,960,000,000 | $ 2,890,000,000 |
Securities Investment | ||
Debt Instrument [Line Items] | ||
Asset balance used to determine maximum borrowing capacity from federal reserve bank | 1,300,000 | |
Amount outstanding | 0 | 0 |
Qualifying Loans | ||
Debt Instrument [Line Items] | ||
Asset balance used to determine maximum borrowing capacity from federal reserve bank | 697,700,000 | |
Putable | ||
Debt Instrument [Line Items] | ||
Borrowings | $ 20,800,000 | $ 21,000,000 |
Derivative Financial Instrume59
Derivative Financial Instruments (Details) - Jun. 30, 2015 - USD ($) $ in Thousands | Total |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Derivative, Fixed Interest Rate | 4.44% |
Derivative, Variable Interest Rate | 2.55% |
Derivative, Fair Value, Net | $ 1,127 |
Derivative Liability, Notional Amount | $ 83,848 |
Derivative, Average Remaining Maturity | 7 years 6 months |
Derivative, Name [Domain] | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Derivative, Fair Value, Net | $ (1,127) |
Interest Rate Swap [Member] | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Derivative Asset, Notional Amount | $ 83,848 |
Subordinated Debentures - Summa
Subordinated Debentures - Summary of Trust Preferred Securities and Debentures (Details) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 | |
Subordinated Borrowing [Line Items] | |||
Carrying Value of Subordinated Debentures Amount | $ 42,241,000 | $ 42,158,000 | |
Nara Capital Trust III | |||
Subordinated Borrowing [Line Items] | |||
Initial Rate | 3.44% | ||
Nara Statutory Trust IV | |||
Subordinated Borrowing [Line Items] | |||
Initial Rate | 3.13% | ||
Nara Statutory Trust V | |||
Subordinated Borrowing [Line Items] | |||
Initial Rate | 3.23% | ||
Nara Statutory Trust VI | |||
Subordinated Borrowing [Line Items] | |||
Initial Rate | 1.94% | ||
Center Capital Trust I | |||
Subordinated Borrowing [Line Items] | |||
Initial Rate | [1] | 3.13% | |
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 | [1] | 18,000,000 | |
Subordinated Debentures Amount | |||
Subordinated Borrowing [Line Items] | |||
Carrying Value of Subordinated Debentures Amount | 42,241,000 | ||
Subordinated Debentures Amount | Nara Capital Trust III | |||
Subordinated Borrowing [Line Items] | |||
Carrying Value of Subordinated Debentures Amount | 5,155,000 | ||
Subordinated Debentures Amount | Nara Statutory Trust IV | |||
Subordinated Borrowing [Line Items] | |||
Carrying Value of Subordinated Debentures Amount | 5,155,000 | ||
Subordinated Debentures Amount | Nara Statutory Trust V | |||
Subordinated Borrowing [Line Items] | |||
Carrying Value of Subordinated Debentures Amount | 10,310,000 | ||
Subordinated Debentures Amount | Nara Statutory Trust VI | |||
Subordinated Borrowing [Line Items] | |||
Carrying Value of Subordinated Debentures Amount | 8,248,000 | ||
Subordinated Debentures Amount | Center Capital Trust I | |||
Subordinated Borrowing [Line Items] | |||
Carrying Value of Subordinated Debentures Amount | [1] | $ 13,373,000 | |
[1] | {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOmQwN2FlYzNkMGVkOTRhNTRiNmY5Njc2OTQ4ZjhjNGRlfFRleHRTZWxlY3Rpb246QkFBQjFEQzM2RUZCMTREQUUyNTM0RjlGM0FFRUNFMUMM} |
Subordinated Debentures - Narra
Subordinated Debentures - Narrative (Details) - Debt Instrument, Name [Domain] - USD ($) | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
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 | $ 1,500,000 | $ 1,600,000 |
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% |
Intangible Assets - Intangible
Intangible Assets - Intangible Assets (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Finite-Lived Intangible Assets [Line Items] | |||||
Goodwill | $ 105,401,000 | $ 105,401,000 | $ 105,401,000 | ||
Goodwill impairment | 0 | $ 0 | 0 | $ 0 | |
Gross Carrying Amount | 7,466,000 | 7,466,000 | |||
Accumulated Amortization | (4,112,000) | (4,112,000) | |||
Core Deposits | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Amortization expense related to core deposit intangible qssets | (267,000) | $ (324,000) | $ 534,000 | $ 648,000 | |
Center Financial Corporation | Core Deposits | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Amortization period | 7 years | ||||
Gross Carrying Amount | 4,100,000 | $ 4,100,000 | |||
Accumulated Amortization | (2,971,000) | $ (2,971,000) | |||
Pacific International Bancorp, Inc. | Core Deposits | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Amortization period | 7 years | ||||
Gross Carrying Amount | 603,000 | $ 603,000 | |||
Accumulated Amortization | (324,000) | $ (324,000) | |||
Foster Bankshares Inc | Core Deposits | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Amortization period | 10 years | ||||
Gross Carrying Amount | 2,763,000 | $ 2,763,000 | |||
Accumulated Amortization | $ (817,000) | $ (817,000) | |||
Minimum | Core Deposits | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Amortization period | 7 years | ||||
Maximum | Core Deposits | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Amortization period | 10 years |
Intangible Assets - Servicing A
Intangible Assets - Servicing Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Balance at beginning of period | $ 10,529 | $ 9,123 | $ 10,341 | $ 8,915 | $ 8,915 |
Additions through originations of servicing assets | 1,144 | 858 | 2,189 | 1,672 | |
Amortization | (738) | (957) | (1,595) | (1,563) | |
Balance at end of period | $ 10,935 | $ 9,024 | $ 10,935 | $ 9,024 | $ 10,341 |
Minimum | |||||
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Weighted-average discount rate | 5.47% | 5.49% | |||
Constant prepayment rate | 8.90% | 9.20% | |||
Maximum | |||||
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Weighted-average discount rate | 5.73% | 5.73% | |||
Constant prepayment rate | 12.50% | 13.00% |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Income Tax Disclosure [Abstract] | ||
Unrecognized tax benefits | $ 1,800 | $ 1,800 |
Interest and penalties accrued | $ 125 | $ 96 |
Fair Value Measurements - Asset
Fair Value Measurements - Assets and Liabilities Measured at Fair Value, Recurring (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Assets: | ||
Securities available for sale, at fair value | $ 875,405 | $ 796,523 |
GSE collateralized mortgage obligations | ||
Assets: | ||
Securities available for sale, at fair value | 362,153 | 302,774 |
GSE mortgage-backed securities | ||
Assets: | ||
Securities available for sale, at fair value | 452,327 | 465,489 |
Trust preferred securities | ||
Assets: | ||
Securities available for sale, at fair value | 3,963 | 3,987 |
Municipal bonds | ||
Assets: | ||
Securities available for sale, at fair value | 39,669 | 6,930 |
Mutual funds | ||
Assets: | ||
Securities available for sale, at fair value | 17,293 | 17,343 |
Recurring basis | GSE collateralized mortgage obligations | ||
Assets: | ||
Securities available for sale, at fair value | 362,153 | 302,774 |
Recurring basis | GSE mortgage-backed securities | ||
Assets: | ||
Securities available for sale, at fair value | 452,327 | 465,489 |
Recurring basis | Trust preferred securities | ||
Assets: | ||
Securities available for sale, at fair value | 3,963 | 3,987 |
Recurring basis | Municipal bonds | ||
Assets: | ||
Securities available for sale, at fair value | 39,669 | 6,930 |
Recurring basis | Mutual funds | ||
Assets: | ||
Securities available for sale, at fair value | 17,293 | 17,343 |
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 | 17,293 | 17,343 |
Recurring basis | Significant Other Observable Inputs (Level 2) | GSE collateralized mortgage obligations | ||
Assets: | ||
Securities available for sale, at fair value | 362,153 | 302,774 |
Recurring basis | Significant Other Observable Inputs (Level 2) | GSE mortgage-backed securities | ||
Assets: | ||
Securities available for sale, at fair value | 452,327 | 465,489 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Trust preferred securities | ||
Assets: | ||
Securities available for sale, at fair value | 3,963 | 3,987 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Municipal bonds | ||
Assets: | ||
Securities available for sale, at fair value | 38,523 | 5,752 |
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 | 1,146 | 1,178 |
Recurring basis | Significant Unobservable Inputs (Level 3) | Mutual funds | ||
Assets: | ||
Securities available for sale, at fair value | $ 0 | $ 0 |
Fair Value Measurements - Rollf
Fair Value Measurements - Rollforward of Level 3 Assets (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
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 | 1,178 | 1,112 |
Purchases, issuances, and settlements | 0 | 0 |
Total gains or (losses) included in other comprehensive income | (32) | 29 |
Ending Balance | $ 1,146 | $ 1,141 |
Fair Value Measurements - Ass67
Fair Value Measurements - Assets Measured at Fair Value, Non-Recurring (Details) - Non-recurring basis - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Impaired loans at fair value - Real estate loans | ||
Assets: | ||
Assets | $ 38,705 | $ 43,708 |
Impaired loans at fair value - Commercial business | ||
Assets: | ||
Assets | 7,546 | 4,114 |
Impaired loans at fair value - Trade finance | ||
Assets: | ||
Assets | 1,654 | 1,883 |
Impaired loans at fair value - Consumer | ||
Assets: | ||
Assets | 573 | 596 |
Loans held for sale, net | ||
Assets: | ||
Assets | 699 | 2,000 |
OREO | ||
Assets: | ||
Assets | 3,844 | 17,985 |
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 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Impaired loans at fair value - Consumer | ||
Assets: | ||
Assets | 0 | 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) | OREO | ||
Assets: | ||
Assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Impaired loans at fair value - Real estate loans | ||
Assets: | ||
Assets | 38,705 | 43,708 |
Significant Other Observable Inputs (Level 2) | Impaired loans at fair value - Commercial business | ||
Assets: | ||
Assets | 7,546 | 4,114 |
Significant Other Observable Inputs (Level 2) | Impaired loans at fair value - Trade finance | ||
Assets: | ||
Assets | 1,654 | 1,883 |
Significant Other Observable Inputs (Level 2) | Impaired loans at fair value - Consumer | ||
Assets: | ||
Assets | 573 | 596 |
Significant Other Observable Inputs (Level 2) | Loans held for sale, net | ||
Assets: | ||
Assets | 699 | 2,000 |
Significant Other Observable Inputs (Level 2) | OREO | ||
Assets: | ||
Assets | 3,844 | 17,985 |
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 | 0 |
Significant Unobservable Inputs (Level 3) | Impaired loans at fair value - Consumer | ||
Assets: | ||
Assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Loans held for sale, net | ||
Assets: | ||
Assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) | OREO | ||
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 ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
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 | $ (89) | $ 212 | $ 445 | $ 1,916 |
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 | 1,650 | (242) | 2,924 | (3,416) |
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 | 315 | (1,537) | 5 | (2,196) |
Impaired loans at fair value - Consumer | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total gains (losses), fair value | 712 | 195 | 700 | 149 |
Loans held for sale, net | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total gains (losses), fair value | 45 | 0 | 227 | 0 |
OREO | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total gains (losses), fair value | $ 325 | $ (320) | $ 814 | $ (330) |
Fair Value Measurements - Carry
Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Level 1 | Carrying Amount | ||
Financial Assets: | ||
Cash and cash equivalents | $ 321,266 | $ 462,160 |
Level 1 | Estimated Fair Value | ||
Financial Assets: | ||
Cash and cash equivalents | 321,266 | 462,160 |
Level 2 | Carrying Amount | ||
Financial Assets: | ||
Loans held for sale | 33,785 | 28,311 |
Customers' liabilities on acceptances | 1,359 | 1,889 |
Financial Liabilities: | ||
Noninterest-bearing deposits | 1,689,137 | 1,543,018 |
Saving and other interest bearing demand deposits | 1,812,972 | 1,862,060 |
Time deposits | 2,256,181 | 2,288,374 |
FHLB advances | 580,785 | 480,975 |
Subordinated debentures | 42,241 | 42,158 |
Bank's liabilities on acceptances outstanding | 1,359 | 1,889 |
Level 2 | Estimated Fair Value | ||
Financial Assets: | ||
Loans held for sale | 35,439 | 29,626 |
Customers' liabilities on acceptances | 1,359 | 1,889 |
Financial Liabilities: | ||
Noninterest-bearing deposits | 1,689,137 | 1,543,018 |
Saving and other interest bearing demand deposits | 1,812,972 | 1,862,060 |
Time deposits | 2,262,634 | 2,292,831 |
FHLB advances | 582,562 | 481,290 |
Subordinated debentures | 44,036 | 43,987 |
Bank's liabilities on acceptances outstanding | 1,359 | 1,889 |
Level 3 | Carrying Amount | ||
Financial Assets: | ||
Loans receivable - net | 5,745,706 | 5,497,434 |
Level 3 | Estimated Fair Value | ||
Financial Assets: | ||
Loans receivable - net | $ 6,097,107 | $ 5,826,924 |
Stockholders' Equity - Discussi
Stockholders' Equity - Discussion of Warrants (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Class of Warrant or Right [Line Items] | ||
Redemption of common stock warrant | $ 1,150 | $ 0 |
Dividend declared (in dollars per share) | $ 0.11 | $ 0.075 |
Common Stock | ||
Class of Warrant or Right [Line Items] | ||
Potential repurchase | 350,767 | |
Maximum number of shares callable by warrants | 19,014 |
Stockholders' Equity - Stockhol
Stockholders' Equity - Stockholders’ Equity (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Accumulated other comprehensive income (loss) | $ (375) | $ 1,705 |
Securities (Assets) | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Accumulated other comprehensive income (loss) | (445) | 1,631 |
Accumulated Unrealized Gain (Losses) on Interest Only Strips | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Accumulated other comprehensive income (loss) | $ 70 | $ 74 |
Regulatory Matters (Details)
Regulatory Matters (Details) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Company | ||
Total capital (to risk-weighted assets), Amount | ||
Total Capital, Actual | $ 915,181,000 | $ 881,794,000 |
Total Capital, Required For Capital Adequacy Purposes | 510,443,000 | 476,490,000 |
Tier I capital (to risk-weighted assets), Amount | ||
Tier I Capital, Actual (Risk Based) | 843,637,000 | 812,464,000 |
Tier I Capital, Required For Capital Adequacy Purposes | 382,832,000 | 238,245,000 |
Tier I capital (to average assets), Amount | ||
Tier I Capital, Actual (Leverage) | 843,637,000 | 812,464,000 |
Tier I Capital, Required For Capital Adequacy Purposes | $ 286,052,000 | $ 279,709,000 |
Total capital and Tier I capital (to risk-weighted assets), Ratio | ||
Total Capital (to Risk Weighted Assets), Actual | 14.34% | 14.80% |
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) | 13.22% | 13.64% |
Tier I Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes (Risk Based) | 6.00% | 4.00% |
Tier I capital (to average assets), Ratio | ||
Tier I Capital (to Average Assets), Actual (Leverage) | 11.80% | 11.62% |
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 | $ 905,479,000 | $ 869,343,000 |
Total Capital, Required For Capital Adequacy Purposes | 510,014,000 | 476,101,000 |
Required To Be Well Capitalized under Prompt Corrective Action Provisions | 637,518,000 | 595,126,000 |
Tier I capital (to risk-weighted assets), Amount | ||
Tier I Capital, Actual (Risk Based) | 833,935,000 | 800,013,000 |
Tier I Capital, Required For Capital Adequacy Purposes | 382,511,000 | 238,050,000 |
Tier I Capital, Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Risk Based) | 510,014,000 | 357,076,000 |
Tier I capital (to average assets), Amount | ||
Tier I Capital, Actual (Leverage) | 833,935,000 | 800,013,000 |
Tier I Capital, Required For Capital Adequacy Purposes | 285,903,000 | 279,585,000 |
Tier I Capital, Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Leverage) | $ 357,379,000 | $ 349,481,000 |
Total capital and Tier I capital (to risk-weighted assets), Ratio | ||
Total Capital (to Risk Weighted Assets), Actual | 14.20% | 14.61% |
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) | 13.08% | 13.44% |
Tier I Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes (Risk Based) | 6.00% | 4.00% |
Tier I Capital (to Risk Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Risk Based) | 8.00% | 6.00% |
Tier I capital (to average assets), Ratio | ||
Tier I Capital (to Average Assets), Actual (Leverage) | 11.67% | 11.45% |
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% |
Common equity tier 1 capital [Member] | Company | ||
Tier I capital (to risk-weighted assets), Amount | ||
Tier I Capital, Actual (Risk Based) | $ 802,821,000 | |
Common Equity Tier 1 [Member] | Company | ||
Tier I capital (to risk-weighted assets), Amount | ||
Tier I Capital, Required For Capital Adequacy Purposes | $ 287,124,000 | |
Total capital and Tier I capital (to risk-weighted assets), Ratio | ||
Tier I Capital (to Risk Weighted Assets), Actual (Risk Based) | 12.58% | |
Tier I Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes (Risk Based) | 4.50% | |
Common Equity Tier 1 [Member] | Bank | ||
Tier I capital (to risk-weighted assets), Amount | ||
Tier I Capital, Actual (Risk Based) | $ 833,935,000 | |
Tier I Capital, Required For Capital Adequacy Purposes | 286,883,100 | |
Tier I Capital, Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Risk Based) | $ 414,386,700 | |
Total capital and Tier I capital (to risk-weighted assets), Ratio | ||
Tier I Capital (to Risk Weighted Assets), Actual (Risk Based) | 13.08% | |
Tier I Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes (Risk Based) | 4.50% | |
Tier I Capital (to Risk Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Risk Based) | 6.50% |
Uncategorized Items - bbcn-2015
Label | Element | Value |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent | $ (4,863) |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent | $ 3,903 |