Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Oct. 31, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | Hope 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 | 128,777,134 |
Consolidated Statements Of Fina
Consolidated Statements Of Financial Condition - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Cash and cash equivalents: | ||
Cash and due from banks | $ 172,572,000 | $ 185,527,000 |
Interest bearing cash in other banks | 350,138,000 | 306,473,000 |
Total cash and cash equivalents | 522,710,000 | 492,000,000 |
Interest bearing deposits in other financial institutions and other investments | 80,316,000 | 53,366,000 |
Securities available for sale, at fair value | 1,854,250,000 | 1,720,257,000 |
Loans held for sale, at the lower of cost or fair value | 15,023,000 | 29,661,000 |
Loans receivable, net of allowance for loan losses of $90,629 and $84,541 at September 30, 2018 and December 31, 2017, respectively | 11,836,553,000 | 11,018,034,000 |
Other real estate owned (“OREO”), net | 8,981,000 | 10,787,000 |
Federal Home Loan Bank (“FHLB”) stock, at cost | 25,927,000 | 29,776,000 |
Premises and equipment, net | 55,178,000 | 56,714,000 |
Accrued interest receivable | 33,338,000 | 29,979,000 |
Deferred tax assets, net | 57,972,000 | 55,203,000 |
Customers’ liabilities on acceptances | 1,259,000 | 1,691,000 |
Bank owned life insurance (“BOLI”) | 76,081,000 | 74,915,000 |
Investments in affordable housing partnerships | 95,506,000 | 81,009,000 |
Goodwill | 464,450,000 | 464,450,000 |
Core deposit intangible assets, net | 14,677,000 | 16,523,000 |
Servicing assets, net | 24,354,000 | 24,710,000 |
Other assets | 62,920,000 | 47,642,000 |
Total assets | 15,229,495,000 | 14,206,717,000 |
Deposits: | ||
Noninterest bearing | 3,020,819,000 | 2,998,734,000 |
Interest bearing: | ||
Money market and NOW accounts | 3,247,420,000 | 3,332,703,000 |
Savings deposits | 229,081,000 | 240,509,000 |
Time deposits | 5,548,299,000 | 4,274,663,000 |
Total deposits | 12,045,619,000 | 10,846,609,000 |
FHLB advances | 836,637,000 | 1,157,693,000 |
Federal funds purchased | 0 | 69,900,000 |
Convertible notes, net | 193,332,000 | 0 |
Subordinated debentures | 101,657,000 | 100,853,000 |
Accrued interest payable | 31,717,000 | 15,961,000 |
Acceptances outstanding | 1,259,000 | 1,691,000 |
Commitments to fund investments in affordable housing partnerships | 57,701,000 | 38,467,000 |
Other liabilities | 56,993,000 | 47,288,000 |
Total liabilities | 13,324,915,000 | 12,278,462,000 |
STOCKHOLDERS’ EQUITY: | ||
Common stock, $0.001 par value; authorized 150,000,000 shares at September 30, 2018 and December 31, 2017: issued and outstanding 135,639,799 and 130,074,103 shares, respectively, at September 30, 2018, and issued and outstanding 135,511,891 shares at December 31, 2017 | 136,000 | 136,000 |
Additional paid-in capital | 1,422,685,000 | 1,405,014,000 |
Retained earnings | 636,080,000 | 544,886,000 |
Treasury stock, at cost; 5,565,696 and 0 shares at September 30, 2018 and December 31, 2017, respectively | (100,000,000) | 0 |
Accumulated other comprehensive loss, net | (54,321,000) | (21,781,000) |
Total stockholders’ equity | 1,904,580,000 | 1,928,255,000 |
Total liabilities and stockholders’ equity | $ 15,229,495,000 | $ 14,206,717,000 |
Consolidated Statements Of Fi_2
Consolidated Statements Of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Loans receivable, allowance | $ 90,629 | $ 84,541 |
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 | 135,639,799 | 135,511,891 |
Common stock, shares outstanding | 130,074,103 | 135,511,891 |
Treasury stock, at cost, shares repurchased | 5,565,696 | 0 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
INTEREST INCOME: | ||||
Interest and fees on loans | $ 153,366 | $ 136,822 | $ 437,497 | $ 388,631 |
Interest on securities | 11,957 | 9,540 | 32,957 | 26,394 |
Interest on federal funds sold and other investments | 2,503 | 1,281 | 7,692 | 3,894 |
Total interest income | 167,826 | 147,643 | 478,146 | 418,919 |
INTEREST EXPENSE: | ||||
Interest on deposits | 37,022 | 20,376 | 92,481 | 53,001 |
Interest on FHLB advances | 3,703 | 2,698 | 11,453 | 7,176 |
Interest on other borrowings and convertible notes | 3,954 | 1,306 | 8,178 | 3,754 |
Total interest expense | 44,679 | 24,380 | 112,112 | 63,931 |
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES | 123,147 | 123,263 | 366,034 | 354,988 |
PROVISION FOR LOAN LOSSES | 7,300 | 5,400 | 12,100 | 13,760 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 115,847 | 117,863 | 353,934 | 341,228 |
NONINTEREST INCOME: | ||||
Service fees on deposit accounts | 4,569 | 5,151 | 13,983 | 15,668 |
International service fees | 1,220 | 1,107 | 3,452 | 3,334 |
Loan servicing fees, net | 852 | 1,373 | 3,441 | 4,102 |
Wire transfer fees | 1,227 | 1,287 | 3,684 | 3,816 |
Net gains on sales of SBA loans | 2,331 | 3,631 | 9,261 | 10,148 |
Net gains on sales of other loans | 477 | 847 | 2,104 | 1,619 |
Other income and fees | 2,771 | 2,850 | 12,641 | 11,277 |
Total noninterest income | 13,447 | 16,246 | 48,566 | 49,964 |
NONINTEREST EXPENSE: | ||||
Salaries and employee benefits | 36,969 | 35,987 | 116,929 | 105,099 |
Occupancy | 7,837 | 7,131 | 22,494 | 21,479 |
Furniture and equipment | 3,710 | 3,642 | 11,454 | 10,611 |
Advertising and marketing | 1,986 | 2,217 | 7,022 | 8,035 |
Data processing and communications | 3,513 | 3,221 | 10,582 | 9,503 |
Professional fees | 3,950 | 3,239 | 11,530 | 10,401 |
Investments in affordable housing partnerships expenses | 3,357 | 2,803 | 8,600 | 8,019 |
FDIC assessments | 1,788 | 1,262 | 5,166 | 3,276 |
Credit related expenses | 658 | (2,487) | 2,356 | (491) |
OREO expense, net | (56) | 678 | (115) | 2,863 |
Merger-related expenses | 0 | 260 | (7) | 1,769 |
Other | 3,743 | 3,884 | 11,526 | 13,009 |
Total noninterest expense | 67,455 | 61,837 | 207,537 | 193,573 |
INCOME BEFORE INCOME TAXES | 61,839 | 72,272 | 194,963 | 197,619 |
INCOME TAX PROVISION | 15,461 | 27,708 | 49,823 | 76,158 |
NET INCOME | $ 46,378 | $ 44,564 | $ 145,140 | $ 121,461 |
EARNINGS PER COMMON SHARE | ||||
Basic (in dollars per share) | $ 0.36 | $ 0.33 | $ 1.09 | $ 0.90 |
Diluted (in dollars per share) | $ 0.36 | $ 0.33 | $ 1.09 | $ 0.90 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 46,378 | $ 44,564 | $ 145,140 | $ 121,461 |
Other comprehensive (loss) income: | ||||
Change in unrealized net holding (losses) gains on securities available for sale | (13,113) | (208) | (47,013) | 7,741 |
Change in unrealized net holding (losses) gains on interest only strips | (1) | (3) | 1 | (44) |
Tax effect | 3,915 | 89 | 14,191 | (3,251) |
Other comprehensive (loss) income, net of tax | (9,199) | (122) | (32,821) | 4,446 |
Total comprehensive income | $ 37,179 | $ 44,442 | $ 112,319 | $ 125,907 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Stockholders' Equity - USD ($) $ in Thousands | Total | Common stock | Additional paid-in capital | Retained earnings | Treasury stock | Accumulated other comprehensive loss, net |
Balance at Dec. 31, 2016 | $ 1,855,473 | $ 135 | $ 1,400,490 | $ 469,505 | $ 0 | $ (14,657) |
Balance, shares at Dec. 31, 2016 | 135,240,079 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of shares pursuant to various stock plans | 1,278 | 1,278 | ||||
Issuance of shares pursuant to various stock plans, shares | 227,097 | |||||
Stock-based compensation | 1,818 | 1,818 | ||||
Cash dividends declared on common stock | (50,045) | (50,045) | ||||
Comprehensive income: | ||||||
Net income | 121,461 | 121,461 | ||||
Other comprehensive income (loss) | 4,446 | 4,446 | ||||
Balance at Sep. 30, 2017 | 1,934,431 | $ 135 | 1,403,586 | 540,921 | 0 | (10,211) |
Balance, shares at Sep. 30, 2017 | 135,467,176 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Reclassification of unrealized losses on equity investments to retained earnings - ASU 2016-01 | (188) | (469) | 281 | |||
Balance at Dec. 31, 2017 | 1,928,255 | $ 136 | 1,405,014 | 544,886 | 0 | (21,781) |
Balance, shares at Dec. 31, 2017 | 135,511,891 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of shares pursuant to various stock plans | 466 | 466 | ||||
Issuance of shares pursuant to various stock plans, shares | 127,908 | |||||
Stock-based compensation | 2,160 | 2,160 | ||||
Cash dividends declared on common stock | (53,477) | (53,477) | ||||
Comprehensive income: | ||||||
Net income | 145,140 | 145,140 | ||||
Other comprehensive income (loss) | (32,821) | (32,821) | ||||
Repurchase of treasury stock | $ (100,000) | (100,000) | ||||
Repurchase of treasury stock, shares | (5,565,696) | (5,565,696) | ||||
Equity component of convertible notes, net of taxes | $ 15,045 | 15,045 | ||||
Balance at Sep. 30, 2018 | $ 1,904,580 | $ 136 | $ 1,422,685 | $ 636,080 | $ (100,000) | $ (54,321) |
Balance, shares at Sep. 30, 2018 | 130,074,103 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 145,140 | $ 121,461 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Discount accretion, net of depreciation and amortization | (2,915) | (9,270) |
Stock-based compensation expense | 2,924 | 2,298 |
Provision for loan losses | 12,100 | 13,760 |
Credit for unfunded loan commitments | (100) | (2,358) |
Valuation adjustment of premises held for sale | 0 | 1,084 |
Valuation adjustment of OREO | 323 | 2,001 |
Net gains on sales of SBA and other loans | (11,365) | (11,767) |
Earnings on BOLI | (1,166) | (818) |
Net change in fair value of derivatives | (15) | 46 |
Net losses (gains) on sale and disposal of premises and equipment | 38 | (277) |
Net gains on sales of OREO | (358) | (34) |
Net change in fair value of equity investments with readily determinable fair value | (1,901) | 0 |
Losses on investments in affordable housing partnership | 8,347 | 7,766 |
Net change in deferred income taxes | 4,863 | 891 |
Proceeds from sales of loans held for sale | 258,231 | 221,821 |
Originations of loans held for sale | (229,871) | (200,951) |
Originations of servicing assets | (5,489) | (4,096) |
Net change in accrued interest receivable | (3,359) | (2,265) |
Net change in other assets | (20,594) | (592) |
Net change in accrued interest payable | 15,756 | 2,877 |
Net change in other liabilities | 9,805 | (3,259) |
Net cash provided by operating activities | 180,394 | 138,318 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchases of interest bearing deposits in other financial institutions and other investments | (9,887) | (28,615) |
Redemption of interest bearing deposits in other financial institutions and other investments | 13,795 | 19,102 |
Purchase of securities available for sale | (375,710) | (504,831) |
Proceeds from matured, called, or paid-down securities available for sale | 166,746 | 193,320 |
Proceeds from sales of other loans held for sale | 6,814 | 417 |
Net change in loans receivable | (812,748) | (407,767) |
Proceeds from sales of OREO | 5,552 | 7,542 |
Purchase of FHLB stock | 0 | (7,223) |
Redemption of FHLB stock | 3,849 | 761 |
Purchase of premises and equipment | (5,516) | (10,271) |
Proceeds from sales and disposals of premises and equipment held for sale | 0 | 3,267 |
Investments in affordable housing partnerships | (10,835) | (8,476) |
Net cash used in investing activities | (1,017,940) | (742,774) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net change in deposits | 1,199,011 | 356,185 |
Proceeds from FHLB advances | 0 | 815,000 |
Repayment of FHLB advances | (320,000) | (550,000) |
Repayment of federal funds purchased | (69,900) | 0 |
Proceeds from convertible notes, net of issuance fees | 212,920 | 0 |
Purchase of treasury stock | (100,000) | 0 |
Cash dividends paid on common stock | (53,477) | (50,045) |
Taxes paid in net settlement of restricted stock | (764) | 0 |
Issuance of additional stock pursuant to various stock plans | 466 | 1,278 |
Net cash provided by financing activities | 868,256 | 572,418 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 30,710 | (32,038) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 492,000 | 437,334 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 522,710 | 405,296 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||
Interest paid | 94,778 | 66,416 |
Income taxes paid | 44,153 | 85,384 |
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES | ||
Transfer from loans receivable to OREO | 3,340 | 7,173 |
Transfer from loans receivable to loans held for sale | 6,680 | 429 |
Transfer from loans held for sale to loans receivable | 1,566 | 1,829 |
Transfer from premises and equipment to premises held for sale | 0 | 3,300 |
Transfer of available for sale securities to equity investments with adoption of ASU 2016-01 | 21,957 | 0 |
New commitments to fund affordable housing partnership investments | $ 30,097 | $ 26,500 |
Hope Bancorp, Inc.
Hope Bancorp, Inc. | 9 Months Ended |
Sep. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Hope Bancorp, Inc. | Hope Bancorp, Inc. Hope Bancorp, Inc. (“Hope Bancorp” on a parent-only basis and the “Company” on a consolidated basis), headquartered in Los Angeles, California, is the holding company for Bank of Hope (the “Bank”). As of September 30, 2018 , the Bank operated branches in California, Washington, Texas, Illinois, Alabama, Georgia, Virginia, New Jersey, and New York, loan production offices in Colorado, Texas, Oregon, Washington, Georgia, Southern California, and Northern California, and a representative office in Seoul, South Korea. 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 | 9 Months Ended |
Sep. 30, 2018 | |
Basis Of Presentation [Abstract] | |
Basis of Presentation | Basis of Presentation The 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 Consolidated Statement of Financial Condition as of December 31, 2017 which was from the audited financial statements included in the Company’s 2017 Annual Report on Form 10-K. Certain information and footnote disclosures normally included in annual 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 consolidated financial statements include the accounts of Hope Bancorp and its wholly owned subsidiaries, principally Bank of Hope. All intercompany transactions and balances have been eliminated in consolidation. The Company has made all adjustments, that in the opinion of management, are necessary to fairly present the Company’s financial position at September 30, 2018 and December 31, 2017 and the results of operations for the three and nine months ended September 30, 2018 and 2017 . 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 (“GAAP”) 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 significantly from those estimates. These unaudited consolidated financial statements should be read along with the audited consolidated financial statements and accompanying notes included in the Company’s 2017 Annual Report on Form 10-K. Pending Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”. Subsequently in July 2018, the FASB issued ASU 2018-10, “Codification Improvements to Topic 842, Leases” and ASU 2018-11, “Leases Topic 842, Targeted Improvements”, to provide additional clarification, implementation, and transition guidance on certain aspects of ASU 2016-02. ASU 2016-02 establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. ASU 2016-02, ASU 2018-10, and ASU 2018-11 are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for finance and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. Under ASU 2018-11, an additional transition option was provided that would allow entities to not apply the new guidance in the comparative periods they present in their financial statements in the year of adoption. Under this optional transition method, entities will be allowed to continue using and presenting leases under ASC 840 for prior years comparative periods and then prospectively adopt ASC 842 on January 1, 2019, recognizing a cumulative-effect adjustment to the opening balance of retained earnings. The Company expects to elect the transition option provided in ASU 2018-11 and the modified retrospective approach will be applied on January 1, 2019. The Company also expects to elect certain relief options offered in ASU 2016-02 including the package of practical expedients, the option not to separate lease and non-lease components and instead to account for them as a single lease component, and the option not to recognize right-of-use assets and lease liabilities that arise from short-term leases (i.e., leases with terms of twelve months or less). The Company estimated that there are approximately 100 operating leases that will be accounted for under ASU 2016-02 at the adoption date, and thus, will be recognized on the consolidated statements of condition as a right-of-use asset and a corresponding lease liability. In July 2018, the Company engaged a new software vendor to assist the Company with the administration and accounting of leases under ASU 2016-02. As of September 30, 2018, the Company has compiled a complete inventory of its leases which have been entered into the new lease accounting software. The preliminary evaluation of the impact of ASU 2016-02 indicates that adoption is expected to impact the Company’s consolidated statements of condition, along with the Company’s regulatory capital ratios. However, the Company does not expect the new guidance to have a material impact on the Company’s consolidated statements of income. The Company is currently assessing the actual expected impact of the new lease accounting guidance on its consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, also referred to as “CECL”. ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. ASU 2016-13 becomes effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2019. The Company has established a CECL committee to oversee the development and implementation of ASU 2016-13. The Company is collaborating with a third party advisory team and has completed a gap assessment, a full implementation road-map and a detailed project plan. The Company has also engaged a software vendor to assist the Company to build a model that is compliant with ASU 2016-13 by the effective date. Based on the Company’s initial assessment of the ASU 2016-13, the Company expects the new guidance will result in additional required allowance for loan losses which could potentially have a material impact on its consolidated financial statements and regulatory capital ratios. Recent Accounting Pronouncements In January 2017, the FASB issued ASU 2017-04, “Intangibles: Goodwill and Other: Simplifying the Test for Goodwill Impairment.” ASU 2017-04 will amend and simplify current goodwill impairment testing to eliminate Step 2 from the current provisions. Under the new guidance, an entity should perform the goodwill impairment test by comparing the fair value of a reporting unit with its carrying value and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. An entity still has the option to perform the quantitative assessment for a reporting unit to determine if a quantitative impairment test is necessary. ASU 2017-04 should be adopted for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. The adoption of ASU 2017-04 is not expected to have a material impact on the Company’s consolidated financial statements. In March 2017, the FASB issued ASU 2017-08, “Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities”. ASU 2017-08 was issued to amend the amortization period for certain callable debt securities held at a premium. ASU 2017-08 shortens the amortization period of premiums on certain purchased callable debt securities to the earliest call date. ASU 2017-08 affect all entities that hold investments in callable debt securities that have an amortized cost basis in excess of the amount that is repayable by the issuer at the earliest call date (that is, at a premium). ASU 2017-08 does not impact securities purchased at a discount, which continue to be amortized to maturity. ASU 2017-08 is effective for annual period beginning after December 15, 2018, including interim periods within those annual periods. Early adoption is permitted in an interim period. If an entity chooses to adopt early, any adjustments should be reflected as of the beginning of the fiscal year that includes the interim period. The adoption of ASU 2017-08 is not expected to have a material impact on the Company’s consolidated financial statements. In June 2018, the FASB issued ASU 2018-07, “Compensation - Stock Compensation (Topic 718): Improvements to Nonemployees Share-Based Payment Accounting”. ASU 2018-07 expands the scope of Topic 718 (which currently only includes share-based payments to employees) to include share-based payments issued to nonemployees for goods or services. As ASU 2018-07 becomes effective, the accounting for share-based payments for nonemployees and employees will be substantially the same. The ASU supersedes Subtopic 505-50, “Equity – Equity-Based Payments to Non-Employees”. ASU 2018-07 is effective for annual period beginning after December 15, 2018, including interim periods within those annual periods. Early adoption is permitted, but no earlier than a company’s adoption date of Topic 606, Revenue from Contracts with Customers. The adoption of ASU 2018-07 is not expected to have a material impact on the Company’s consolidated financial statements as the Company has historically not issued share-based payments to nonemployees for goods and services. In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement”. ASU 2018-13 modifies the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. ASU 2018-13 removes the disclosure requirement detailing the amount of and reasons for transfers between Level 1 and Level 2 and the valuation processes for Level 3 fair value measurements will be removed. In addition, ASU 2018-13 modifies the disclosure requirement for investments in certain entities that calculate net asset value. Lastly, ASU 2018-13 adds a disclosure requirement for changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 measurements. ASU 2018-13 is effective annual periods in fiscal years beginning after December 15, 2019, including interim periods within those annual periods. Early adoption is permitted upon the issuance of ASU 2018-13. The removed and modified disclosures will be adopted on a retrospective basis, and the new disclosures will be adopted on a prospective basis. The adoption of ASU 2018-13 is not expected to have a material impact on the Company’s consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, “ Intangibles - Goodwill and Other - Internal Use Software (Subtopic 250-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force)”. ASU 2018-15 requires an entity in a cloud computing arrangement (i.e., hosting arrangement) that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets or expense as incurred. Capitalized implementation costs should be presented in the same line item on the balance sheet as amounts prepaid for the hosted service, if any (generally as an “other asset”). The capitalized costs will be amortized over the term of the hosting arrangement, with the amortization expense being presented in the same income statement line item as the fees paid for the hosted service. ASU 2018-15 is effective for annual reporting periods beginning after December 15, 2019, including interim periods within those annual periods. Early adoption is permitted, including adoption in any interim period. The adoption of ASU 2018-15 is not expected to have a material impact on the Company’s consolidated financial statements. |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation The Company has a stock-based incentive plan (the “2016 Plan”) to award equity as a form of compensation. The 2016 Plan was approved by the Company’s stockholders on September 1, 2016. The 2016 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, employees, and potentially 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 2016 Plan gives the Company flexibility to (i) attract and retain qualified non-employee directors, executives, other key employees, and consultants with appropriate equity-based awards to; (ii) motivate high levels of performance; (iii) recognize employee contributions to the Company’s success; and (iv) align the interests of the 2016 Plan participants with those of the Company’s stockholders. The plan initially had 2,400,000 shares available for grant to participants. 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 2016 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 2016 Plan. All options not exercised generally expire 10 years after the date of grant. 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 are 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 2007 Equity Incentive Plan (“2007 Plan”), which was approved by stockholders in May 2007. Under the terms of this plan, awards cannot be granted under the plan more than ten years after the plan adoption date. Therefore, subsequent to May 2017, equity awards were not issued from this plan. Under the 2016 Plan, 1,110,696 shares were available for future grants as of September 30, 2018 . The total shares reserved for issuance will serve as the underlying value for all equity awards under the 2016 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 2016 Plan for the nine months ended September 30, 2018 : Number of Shares Weighted- Average Exercise Price Per Share Weighted- Average Remaining Contractual Life (Years) Aggregate Intrinsic Value (Dollars in thousands) Outstanding - January 1, 2018 1,075,423 $ 15.06 Granted — — Exercised (57,198 ) 7.88 Expired (5,546 ) 16.62 Forfeited (24,000 ) 17.18 Outstanding - September 30, 2018 988,679 $ 15.41 6.69 $ 1,335 Options exercisable - September 30, 2018 783,669 $ 15.01 6.41 $ 1,328 The following is a summary of restricted stock and performance unit activity under the 2016 Plan for the nine months ended September 30, 2018 : Number of Shares Weighted- Average Grant Date Fair Value Outstanding - January 1, 2018 379,419 $ 16.42 Granted 273,725 16.27 Vested (149,287 ) 16.51 Forfeited (20,666 ) 16.04 Outstanding - September 30, 2018 483,191 $ 16.39 The total fair value of restricted stock and performance units vested for the nine months ended September 30, 2018 and 2017 was $2.7 million and $2.6 million , respectively. On August 21, 2017, the Company adopted the Hope Employee Stock Purchase Plan (“ESPP”). The ESPP allows eligible employees to purchase the Company’s common shares through payroll deductions which build up between the offering date and the purchase date. At the purchase date, the Company uses the accumulated funds to purchase shares in the Company on behalf of the participating employees at a 10% discount to the closing price of the Company’s common shares. The closing price is the lower of either the closing price on the first day of the offering period or on the closing price on the purchase date. The dollar amount of common shares purchased under the ESPP must not exceed 20% of the participating employee’s base salary, subject to a cap of $25 thousand in stock value based on the grant date. The ESPP is considered compensatory under GAAP and compensation expense for the ESPP is recognized as part of the Company’s stock-based compensation expenses. The compensation expense for ESPP during the three months ended September 30, 2018 and 2017 was $39 thousand and $18 thousand , respectively. The compensation expense for ESPP during the nine months ended September 30, 2018 and 2017 was $124 thousand and $18 thousand , respectively. The amount charged against income related to stock-based payment arrangements, including ESPP, was $1.1 million and $792 thousand for the three months ended September 30, 2018 and 2017 , respectively. For the nine months ended September 30, 2018 and 2017, $2.9 million and $2.3 million , respectively, of stock-based payment arrangements were charged against income. The income tax benefit recognized was approximately $264 thousand and $304 thousand for the three months ended September 30, 2018 and 2017 , respectively. The income tax benefit recognized for the nine months ended September 30, 2018 and 2017, was approximately $747 thousand and $886 thousand , respectively. At September 30, 2018 , the unrecognized compensation expense related to non-vested stock option grants was $551 thousand which is expected to be recognized over a weighted average vesting period of 2.75 years. Unrecognized compensation expense related to non-vested restricted stock and performance units was $5.3 million which is expected to be recognized over a weighted average vesting period of 2.64 years. |
Earnings Per Share ("EPS")
Earnings Per Share ("EPS") | 9 Months Ended |
Sep. 30, 2018 | |
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 equity awards or convertible notes 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, convertible notes, or other contracts to issue common stock were exercised or converted to common stock that would then share in earnings. For the three months ended September 30, 2018 and 2017, stock options and restricted shares awards for 306,410 and 762,833 shares of common stock, respectively, were excluded in computing diluted earnings per common share because they were anti-dilutive. For the nine months ended September 30, 2018 and 2017 , stock options and restricted shares awards for 296,357 and 484,426 shares of common stock, respectively, were excluded in computing diluted earnings per common share because they were anti-dilutive. Additionally, warrants issued pursuant to the Company’s participation in the U.S. Treasury’s TARP Capital Purchase Plan, to purchase 20,845 shares and 20,238 shares of common stock were anti-dilutive and excluded for the three and nine months ended September 30, 2018 and 2017 , respectively. During the second quarter of 2018, the Company issued $217.5 million in convertible notes. The convertible notes can be converted to the Company’s shares of common stock at an initial rate of 45.0760 shares per $1,000 principal amount of the notes (See footnote 10 “Subordinated Debentures and Convertible Notes” for additional information regarding convertible notes issued). For the three and nine months ended September 30, 2018 , shares related to the convertible notes issued were not included in the Company’s diluted EPS calculation. In accordance with the terms of the convertible notes and settlement options available to the Company, no shares would have been delivered to investors of the convertible notes upon assumed conversion based on the Company’s common stock price during the three and nine months ended September 30, 2018 . On April 26, 2018, the Company’s Board of Directors approved a share repurchase program that authorized the Company to repurchase up to $100.0 million in common stock. During the nine months ended September 30, 2018 , the Company repurchased 5,565,696 shares of common stock totaling $100.0 million which were recorded as treasury stock and excluded from weighted average shares and weighted average diluted shares for the three and nine months ended September 30, 2018 . On September 20, 2018, the Company’s Board of Directors approved another share repurchase program that authorized the Company to repurchase up to $50.0 million in common stock. There were no shares repurchased as part of the program as of September 30, 2018 . The following tables show the computation of basic and diluted EPS for the three and nine months ended September 30, 2018 and 2017 . Three Months Ended September 30, 2018 2017 Net Income (Numerator) Weighted-Average Shares (Denominator) Earnings Per Share Net Income (Numerator) Weighted-Average Shares Earnings (Dollars in thousands, except share and per share data) Basic EPS - common stock $ 46,378 130,268,992 $ 0.36 $ 44,564 135,382,457 $ 0.33 Effect of dilutive securities: Stock options, restricted stock, and ESPP shares 256,482 248,455 Diluted EPS - common stock $ 46,378 130,525,474 $ 0.36 $ 44,564 135,630,912 $ 0.33 Nine Months Ended September 30, 2018 2017 Net Income (Numerator) Weighted-Average Shares Earnings Net Income (Numerator) Weighted-Average Shares Earnings (In thousands, except share and per share data) Basic EPS - common stock $ 145,140 132,930,437 $ 1.09 $ 121,461 135,296,332 $ 0.90 Effect of dilutive securities: Stock options, restricted stock, and ESPP shares 283,632 365,633 Diluted EPS - common stock $ 145,140 133,214,069 $ 1.09 $ 121,461 135,661,965 $ 0.90 |
Equity Investment Securities (N
Equity Investment Securities (Notes) | 9 Months Ended |
Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Equity Investment Securities | Equity Investments On January 1, 2018, the Company adopted ASU 2016-01, “ Recognition and Measurement of Financial Assets and Financial Liabilities”. As a result of the adoption, the Company reclassified $469 thousand in net unrealized losses included in other comprehensive income and deferred tax assets to retained earnings on January 1, 2018. Equity investments with readily determinable fair value at September 30, 2018 , consisted of mutual funds and equity stock in other institutions in the amount of $21.3 million and $2.6 million , respectively and is included in “Interest bearing deposits in other financial institutions and other investments” on the consolidated statements of financial condition. In accordance with ASU 2016-01, the change in fair value for equity investments with readily determinable fair value for the three and nine months ended September 30, 2018 were recorded as other noninterest income as summarized in the table below: Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 (Dollars in thousands) Net change in fair value recorded during the period on equity investment securities $ (1,617 ) $ 1,901 Net change in fair value recorded on equity investment securities sold during the period — — Net change in fair value on equity investment securities at end of period $ (1,617 ) $ 1,901 At September 30, 2018 , the Company also had equity investments without readily determinable fair value which are carried at cost less any determined impairment. The balance of these investments is adjusted for changes in subsequent observable prices. At September 30, 2018 , the total balance of equity investments without readily determinable fair values included in “Interest bearing deposits in other financial institutions and other investments” on the consolidated statements of financial condition was $26.3 million , consisting of $370 thousand in correspondent bank stock, $1.0 million in Community Development Financial Institutions investments, and $24.9 million in Community Reinvestment Act investments. There was no impairment or subsequent observable price changes for investments without readily determinable fair values for the three and nine months ended September 30, 2018 . |
Securities Available for Sale
Securities Available for Sale | 9 Months Ended |
Sep. 30, 2018 | |
Available-for-sale Securities [Abstract] | |
Securities Available for Sale | Securities Available for Sale The following is a summary of securities available for sale at the dates indicated: At September 30, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (Dollars in thousands) Debt securities: U.S. Government agency and U.S. Government sponsored enterprises: Collateralized mortgage obligations $ 948,536 $ 10 $ (36,665 ) $ 911,881 Mortgage-backed securities: Residential 431,790 9 (19,091 ) 412,708 Commercial 467,761 — (19,435 ) 448,326 Corporate securities 5,000 — (651 ) 4,349 Municipal securities 79,330 174 (2,518 ) 76,986 Total investment securities available for sale $ 1,932,417 $ 193 $ (78,360 ) $ 1,854,250 At December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (Dollars in thousands) Debt securities: U.S. Government agency and U.S. Government sponsored enterprises: Collateralized mortgage obligations $ 856,193 $ 58 $ (17,542 ) $ 838,709 Mortgage-backed securities: Residential 477,676 521 (6,983 ) 471,214 Commercial 308,046 — (6,681 ) 301,365 Corporate securities 4,997 — (522 ) 4,475 Municipal securities 82,542 870 (875 ) 82,537 Total debt securities 1,729,454 1,449 (32,603 ) 1,698,300 Mutual funds 22,425 17 (485 ) 21,957 Total investment securities available for sale $ 1,751,879 $ 1,466 $ (33,088 ) $ 1,720,257 As of September 30, 2018 and December 31, 2017 , 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. At September 30, 2018 and December 31, 2017 , $55.5 million and $19.0 million , respectively, in unrealized losses on securities available for sale net of taxes were included in accumulated other comprehensive loss. Also included in accumulated other comprehensive loss at September 30, 2018 and December 31, 2017 , were unrealized losses on interest only strip net of taxes of $48 thousand and $41 thousand , respectively. There were no reclassifications out of accumulated other comprehensive loss into earnings during the three and nine months ended September 30, 2018 or 2017. On January 1, 2018, the Company adopted ASU 2016-01 “ Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities” . As a result of the adoption of ASU 2016-01, the Company no longer accounts for mutual funds as available-for-sale securities and accounts for these investments as equity investments with readily determinable fair value with changes in fair value recorded through earnings. In accordance with ASU 2016-01, the Company reclassified $469 thousand in net unrealized losses included in other comprehensive income and deferred tax assets to retained earnings on January 1, 2018. The subsequent changes to fair value for mutual funds were recorded as other noninterest income for the three and nine months ended September 30, 2018 . The amortized cost and estimated fair value of investment securities at September 30, 2018 , by contractual maturity, is presented in the table 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. Collateralized mortgage obligations and mortgage-backed securities are not due at a single maturity date and their total balances are shown separately. Amortized Cost Estimated Fair Value (Dollars in thousands) Available for sale: Due within one year $ 751 $ 766 Due after one year through five years 17,393 17,374 Due after five years through ten years 28,861 28,379 Due after ten years 37,325 34,816 U.S. Government agency and U.S. Government sponsored enterprises: Collateralized mortgage obligations 948,536 911,881 Mortgage-backed securities: Residential 431,790 412,708 Commercial 467,761 448,326 Total $ 1,932,417 $ 1,854,250 Securities with carrying values of approximately $353.8 million and $359.2 million at September 30, 2018 and December 31, 2017 , respectively, were pledged to secure public deposits, for various borrowings, and for other purposes as required or permitted by law. The following tables show the Company’s investments’ gross unrealized losses and estimated fair values, 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 September 30, 2018 Less than 12 months 12 months or longer Total Description of Securities Number Fair Value Gross Unrealized Losses Number Fair Value Gross Unrealized Losses Number of Fair Value Gross Unrealized Losses (Dollars in thousands) Collateralized mortgage obligations* 20 $ 209,673 $ (1,418 ) 86 $ 700,789 $ (35,247 ) 106 $ 910,462 $ (36,665 ) Mortgage-backed securities: Residential* 11 63,627 (1,280 ) 41 347,316 (17,811 ) 52 410,943 (19,091 ) Commercial* 18 195,427 (4,712 ) 20 242,896 (14,723 ) 38 438,323 (19,435 ) Corporate securities — — — 1 4,349 (651 ) 1 4,349 (651 ) Municipal securities 71 42,623 (753 ) 5 20,713 (1,765 ) 76 63,336 (2,518 ) Total 120 $ 511,350 $ (8,163 ) 153 $ 1,316,063 $ (70,197 ) 273 $ 1,827,413 $ (78,360 ) __________________________________ * Investments in U.S. Government agency and U.S. Government sponsored enterprises As of December 31, 2017 Less than 12 months 12 months or longer Total Description of Securities Number of Securities Fair Value Gross Unrealized Losses Number Fair Value Gross Unrealized Losses Number Fair Value Gross Unrealized Losses (Dollars in thousands) Collateralized mortgage obligations* 38 $ 425,198 $ (5,954 ) 53 $ 408,526 $ (11,588 ) 91 $ 833,724 $ (17,542 ) Mortgage-backed securities: Residential* 20 195,086 (1,282 ) 23 230,616 (5,701 ) 43 425,702 (6,983 ) Commercial* 16 186,357 (1,614 ) 8 115,008 (5,067 ) 24 301,365 (6,681 ) Corporate securities 1 4,475 (522 ) — — — 1 4,475 (522 ) Municipal securities 18 9,295 (69 ) 3 22,144 (806 ) 21 31,439 (875 ) Mutual funds 1 8,899 (101 ) 3 11,579 (384 ) 4 20,478 (485 ) Total 94 $ 829,310 $ (9,542 ) 90 $ 787,873 $ (23,546 ) 184 $ 1,617,183 $ (33,088 ) __________________________________ * 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, management’s intention to sell, and/or whether it is more likely than not that management will be required to sell the 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 had collateralized mortgage obligations, mortgage backed securities, corporate securities, and municipal securities that were in a continuous unrealized loss position for twelve months or longer as of September 30, 2018 . The collateralized mortgage obligations in a continuous loss position for twelve months or longer had unrealized losses of $35.2 million at September 30, 2018 , and total mortgage backed securities in a continuous loss position for twelve months or longer had total unrealized losses of $32.5 million . 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 U.S. Government agencies 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. Corporate securities that were in a continuous loss position for twelve months or longer had unrealized losses of $651 thousand at September 30, 2018 . Municipal securities that were in a continuous loss position for twelve months or longer had unrealized losses of $1.8 million at September 30, 2018 . 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 U.S. Government sponsored collateralized mortgage obligations and mortgage backed securities, corporate securities, and municipal securities that were in an unrealized loss position at September 30, 2018 . The Company considers the losses on the investments in unrealized loss positions at September 30, 2018 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 | 9 Months Ended |
Sep. 30, 2018 | |
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: September 30, 2018 December 31, 2017 Loan portfolio composition (Dollars in thousands) Real estate loans: Residential $ 49,602 $ 49,774 Commercial 8,307,213 8,142,036 Construction 283,042 316,412 Total real estate loans 8,639,857 8,508,222 Commercial business 2,126,608 1,780,869 Trade finance 191,605 166,664 Consumer and other 969,835 647,102 Total loans outstanding 11,927,905 11,102,857 Deferred loan fees, net (723 ) (282 ) Loans receivable 11,927,182 11,102,575 Allowance for loan losses (90,629 ) (84,541 ) Loans receivable, net of allowance for loan losses $ 11,836,553 $ 11,018,034 The loan portfolio is made up of four segments: real estate loans, commercial business, trade finance, and consumer and other. Real estate loans are extended for the purchase and refinance of commercial real estate and are generally secured by first deeds of trust and are collateralized by residential or commercial properties. Commercial business loans are loans provided to business for various purposes such as for working capital, purchasing inventory, debt refinancing, business acquisitions and other business related financing needs. Trade finance loans generally serves businesses involved in international trade activities. Consumer and other loans consist mostly of single family residential mortgage loans but also includes home equity, credit cards, and other personal loans. The four segments are further segregated between loans accounted for under the amortized cost method (“Legacy Loans”), and previously 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 purchased credit impaired loans (loans with credit deterioration on the date of acquisition and accounted for under ASC 310-30, or “PCI loans”), 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 “non-PCI loans”). The following table presents changes in the accretable discount on PCI loans for the three and nine months ended September 30, 2018 and 2017 : Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Balance at beginning of period $ 53,573 $ 53,657 $ 55,002 $ 43,611 Accretion (5,239 ) (5,815 ) (16,970 ) (16,375 ) Reclassification from nonaccretable difference 7,889 6,696 18,191 27,302 Balance at end of period $ 56,223 $ 54,538 $ 56,223 $ 54,538 On the acquisition date, the amount by which the undiscounted expected cash flows exceed the estimated fair value of PCI loans is considered the “accretable yield.” The accretable yield is 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 PCI loans 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 nine months ended September 30, 2018 and 2017 : Legacy Loans Acquired Loans Total Real Estate Commercial Business Trade Finance Consumer and Other Real Commercial Business Trade Finance Consumer and Other (Dollars in thousands) Three Months Ended September 30, 2018 Balance, beginning of period $ 48,235 $ 22,031 $ 983 $ 4,799 $ 12,816 $ 991 $ 3 $ 23 $ 89,881 Provision (credit) for loan losses 5,537 (856 ) (159 ) 1,036 1,744 28 (3 ) (27 ) 7,300 Loans charged off (5,854 ) (292 ) — (343 ) (191 ) (174 ) — (13 ) (6,867 ) Recoveries of charge offs 41 188 17 1 — 32 — 36 315 Balance, end of period $ 47,959 $ 21,071 $ 841 $ 5,493 $ 14,369 $ 877 $ — $ 19 $ 90,629 Nine Months Ended September 30, 2018 Balance, beginning of period $ 45,360 $ 17,228 $ 1,674 $ 3,385 $ 13,322 $ 3,527 $ 42 $ 3 $ 84,541 Provision (credit) for loan losses 7,792 2,920 (874 ) 2,999 1,430 (2,114 ) (42 ) (11 ) 12,100 Loans charged off (6,061 ) (1,080 ) — (919 ) (385 ) (740 ) — (13 ) (9,198 ) Recoveries of charge offs 868 2,003 41 28 2 204 — 40 3,186 Balance, end of period $ 47,959 $ 21,071 $ 841 $ 5,493 $ 14,369 $ 877 $ — $ 19 $ 90,629 Legacy Loans Acquired Loans Total Real Commercial Business Trade Finance Consumer and Other Real Commercial Business Trade Finance Consumer and Other (Dollars in thousands) Three Months Ended September 30, 2017 Balance, beginning of period $ 40,478 $ 21,495 $ 1,000 $ 2,282 $ 13,411 $ 1,291 $ 106 $ 11 $ 80,074 Provision (credit) for loan losses 3,664 1,499 418 664 (1,312 ) 395 56 16 5,400 Loans charged off (175 ) (3,870 ) — (218 ) (162 ) (471 ) — (17 ) (4,913 ) Recoveries of charge offs 23 3,020 2 — — 25 — 2 3,072 Balance, end of period $ 43,990 $ 22,144 $ 1,420 $ 2,728 $ 11,937 $ 1,240 $ 162 $ 12 $ 83,633 Nine Months Ended September 30, 2017 Balance, beginning of period $ 38,956 $ 23,430 $ 1,897 $ 2,116 $ 12,791 $ 117 $ — $ 36 $ 79,343 Provision (credit) for loan losses 7,174 2,356 1,621 1,348 (406 ) 1,517 162 (12 ) 13,760 Loans charged off (2,221 ) (7,485 ) (2,104 ) (738 ) (479 ) (596 ) — (17 ) (13,640 ) Recoveries of charge offs 81 3,843 6 2 31 202 — 5 4,170 Balance, end of period $ 43,990 $ 22,144 $ 1,420 $ 2,728 $ 11,937 $ 1,240 $ 162 $ 12 $ 83,633 The following tables break out the allowance for loan losses and the recorded investment of loans outstanding (not including accrued interest receivable and net deferred loan costs or fees) by individually impaired, general valuation, and PCI impairment, by portfolio segment at September 30, 2018 and December 31, 2017 : September 30, 2018 Legacy Loans Acquired Loans Total Real Commercial Business Trade Finance Consumer and Other Real Commercial Business Trade Finance Consumer and Other (Dollars in thousands) Allowance for loan losses: Individually evaluated for impairment $ 373 $ 2,920 $ 1 $ 4 $ 295 $ 425 $ — $ 1 $ 4,019 Collectively evaluated for impairment 47,586 18,151 840 5,489 1,220 452 — 18 73,756 PCI loans — — — — 12,854 — — — 12,854 Total $ 47,959 $ 21,071 $ 841 $ 5,493 $ 14,369 $ 877 $ — $ 19 $ 90,629 Loans outstanding: Individually evaluated for impairment $ 42,879 $ 32,009 $ 5,940 $ 831 $ 17,039 $ 6,001 $ 3,232 $ 1,251 $ 109,182 Collectively evaluated for impairment 6,766,006 1,974,442 182,433 823,112 1,682,321 89,390 — 137,841 11,655,545 PCI loans — — — — 131,612 24,766 — 6,800 163,178 Total $ 6,808,885 $ 2,006,451 $ 188,373 $ 823,943 $ 1,830,972 $ 120,157 $ 3,232 $ 145,892 $ 11,927,905 December 31, 2017 Legacy Loans Acquired Loans Total Real Commercial Business Trade Finance Consumer and Other Real Commercial Business Trade Finance Consumer and Other (Dollars in thousands) Allowance for loan losses: Individually evaluated for impairment $ 1,378 $ 2,807 $ 3 $ 35 $ 246 $ 854 $ — $ — $ 5,323 Collectively evaluated for impairment 43,982 14,421 1,671 3,350 1,036 2,673 42 3 67,178 PCI loans — — — — 12,040 — — — 12,040 Total $ 45,360 $ 17,228 $ 1,674 $ 3,385 $ 13,322 $ 3,527 $ 42 $ 3 $ 84,541 Loans outstanding: Individually evaluated for impairment $ 41,041 $ 31,322 $ 3,951 $ 908 $ 14,239 $ 18,733 $ 2,984 $ 1,171 $ 114,349 Collectively evaluated for impairment 6,172,448 1,459,273 152,204 477,375 2,120,001 244,980 7,525 157,794 10,791,600 PCI loans — — — — 160,493 26,561 — 9,854 196,908 Total $ 6,213,489 $ 1,490,595 $ 156,155 $ 478,283 $ 2,294,733 $ 290,274 $ 10,509 $ 168,819 $ 11,102,857 As of September 30, 2018 and December 31, 2017 , the reserve for unfunded loan commitments recorded in other liabilities was $736 thousand and $836 thousand , respectively. For the three months ended September 30, 2018 and 2017 , recognized credit for unfunded commitments recorded in credit related expense was $(50) thousand and $(2.8) million , respectively. For the nine months ended September 30, 2018 and 2017 , the recognized credit for unfunded commitments was $(100) thousand and $(2.4) million , respectively. The recorded investment of individually impaired loans and the total impaired loans net of specific allowance is presented in the following table for the dates indicated: September 30, 2018 December 31, 2017 (Dollars in thousands) With allocated specific allowance Without charge off $ 33,421 $ 28,614 With charge off 1,354 3,044 With no allocated specific allowance Without charge off 65,072 77,533 With charge off 9,335 5,158 Specific allowance on impaired loans (4,019 ) (5,323 ) Impaired loans, net of specific allowance $ 105,163 $ 109,026 The following tables detail the recorded investment of impaired loans (Legacy Loans and Acquired Loans that became impaired subsequent to being originated and acquired, respectfully) as of September 30, 2018 and December 31, 2017 , and the average recorded investment and interest income recognized for the three and nine months ended September 30, 2018 and 2017 . Impaired loans with no related allowance are believed by management to be adequately collateralized. As of September 30, 2018 As of December 31, 2017 Total Impaired Loans Recorded Investment* Unpaid Contractual Principal Balance Related Allowance Recorded Investment* Unpaid Contractual Principal Balance Related Allowance (Dollars in thousands) With related allowance: Real estate—residential $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 1,690 1,796 231 532 531 131 Hotel & motel 3,036 3,387 286 2,931 5,090 284 Gas station & car wash — — — — — — Mixed use 2,996 3,058 32 312 958 4 Industrial & warehouse 588 1,423 98 772 1,482 96 Other 4,725 5,128 21 4,397 4,401 1,109 Real estate—construction — — — — — — Commercial business 20,220 22,967 3,345 18,330 22,757 3,661 Trade finance 562 562 1 3,861 3,861 3 Consumer and other 958 6 5 523 524 35 Subtotal $ 34,775 $ 38,327 $ 4,019 $ 31,658 $ 39,604 $ 5,323 With no related allowance: Real estate—residential $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 7,935 11,026 — 11,792 13,923 — Hotel & motel 9,279 18,107 — 2,841 5,288 — Gas station & car wash 380 3,668 — 591 1,764 — Mixed use 3,924 4,199 — 1,101 3,490 — Industrial & warehouse 13,254 14,277 — 8,429 8,525 — Other 12,111 13,261 — 20,282 24,412 — Real estate—construction — — — 1,300 1,441 — Commercial business 17,790 22,065 — 31,725 33,207 — Trade finance 8,610 8,610 — 3,074 3,091 — Consumer and other 1,124 168 — 1,556 1,676 — Subtotal $ 74,407 $ 95,381 $ — $ 82,691 $ 96,817 $ — Total $ 109,182 $ 133,708 $ 4,019 $ 114,349 $ 136,421 $ 5,323 __________________________________ * Unpaid contractual principal balance less charge offs, interest collected applied to principal if on nonaccrual and purchase discounts. For the Three Months Ended September 30, For the Nine Months Ended September 30, 2018 2017 2018 2017 Total Impaired Loans Average Recorded Investment* Interest Income Recognized During Impairment Average Recorded Investment* Interest Income Recognized During Impairment Average Recorded Investment* Interest Income Recognized During Impairment Average Recorded Investment* Interest Income Recognized During Impairment (Dollars in thousands) With related allowance: Real estate—residential $ 125 $ — $ — $ — $ 63 $ — $ — $ — Real estate—commercial Retail 4,740 8 1,197 4 4,099 22 1,268 11 Hotel & motel 2,897 — 2,269 17 2,888 — 4,330 49 Gas station & car wash — — — — — — 54 — Mixed use 3,004 40 228 2 2,320 115 228 5 Industrial & warehouse 1,721 6 746 — 1,648 22 1,226 — Other 4,322 33 4,572 60 5,608 133 13,534 175 Real estate—construction — — — — — — — — Commercial business 22,159 138 27,031 261 23,381 408 25,036 749 Trade finance 2,128 2 4,118 58 2,678 4 2,587 215 Consumer and other 981 6 251 1 744 12 169 3 Subtotal $ 42,077 $ 233 $ 40,412 $ 403 $ 43,429 $ 716 $ 48,432 $ 1,207 With no related allowance: Real estate—residential $ — $ — $ 249 $ 20 $ — $ — $ 1,381 $ 57 Real estate—commercial Retail 7,901 36 10,071 91 10,390 107 12,412 263 Hotel & motel 6,834 — 10,494 59 4,887 — 8,346 175 Gas station & car wash 358 — 3,022 114 514 — 3,812 317 Mixed use 3,886 49 1,274 109 2,494 149 4,095 324 Industrial & warehouse 12,209 86 8,390 68 11,364 249 8,738 191 Other 12,559 80 14,733 6 14,892 230 16,324 19 Real estate—construction — — 1,300 — 650 — 1,689 — Commercial business 20,320 129 11,544 — 19,262 360 10,417 — Trade finance 5,785 120 1,765 — 4,503 354 2,975 — Consumer and other 1,541 — 1,305 — 1,569 — 1,147 — Subtotal $ 71,393 $ 500 $ 64,147 $ 467 $ 70,525 $ 1,449 $ 71,336 $ 1,346 Total $ 113,470 $ 733 $ 104,559 $ 870 $ 113,954 $ 2,165 $ 119,768 $ 2,553 __________________________________ * Unpaid contractual principal balance less charge offs, interest collected applied to principal if on nonaccrual and purchase discounts. As of September 30, 2018 As of December 31, 2017 Impaired Acquired Loans Recorded Investment* Unpaid Contractual Principal Balance Related Allowance Recorded Investment* Unpaid Contractual Principal Balance Related Allowance (Dollars in thousands) With related allowance: Real estate—residential $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 492 512 166 262 261 126 Hotel & motel 72 345 5 85 86 2 Gas station & car wash — — — — — — Mixed use 2,828 2,828 31 129 129 1 Industrial & warehouse 247 1,070 91 221 896 96 Other 262 262 2 319 323 21 Real estate—construction — — — — — — Commercial business 4,360 6,263 425 1,987 2,903 854 Trade finance — — — — — — Consumer and other 148 — 1 — — — Subtotal $ 8,409 $ 11,280 $ 721 $ 3,003 $ 4,598 $ 1,100 With no related allowance: Real estate—residential $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 3,097 3,883 — 3,412 4,099 — Hotel & motel 5,459 6,891 — 482 1,887 — Gas station & car wash 248 2,673 — 1 28 — Mixed use — — — 152 2,240 — Industrial & warehouse 119 894 — 45 45 — Other 4,215 4,780 — 9,131 9,951 — Real estate—construction — — — — — — Commercial business 1,641 1,812 — 16,746 16,926 — Trade finance 3,232 3,232 — 2,984 3,001 — Consumer and other 1,103 146 — 1,171 1,291 — Subtotal $ 19,114 $ 24,311 $ — $ 34,124 $ 39,468 $ — Total $ 27,523 $ 35,591 $ 721 $ 37,127 $ 44,066 $ 1,100 __________________________________ * Unpaid contractual principal balance less charge offs, interest collected applied to principal if on nonaccrual and purchase discounts. For the Three Months Ended September 30, For the Nine Months Ended September 30, 2018 2017 2018 2017 Impaired Acquired Loans Average Recorded Investment* Interest Income Recognized During Impairment Average Recorded Investment* Interest Income Recognized During Impairment Average Recorded Investment* Interest Income Recognized During Impairment Average Recorded Investment* Interest Income Recognized During Impairment (Dollars in thousands) With related allowance: Real estate—residential $ 125 $ — $ — $ — $ 63 $ — $ — $ — Real estate—commercial Retail 793 — 927 4 588 — 998 11 Hotel & motel 73 — 174 — 79 — 110 — Gas station & car wash — — — — — — — — Mixed use 2,833 40 190 2 2,189 115 191 5 Industrial & warehouse 258 — 452 — 250 1 226 — Other 788 3 303 4 1,802 10 319 11 Real estate—construction — — — — — — — — Commercial business 4,506 41 1,250 9 5,709 121 892 24 Trade finance — — — — — — — — Consumer and other 150 2 — — 75 4 — — Subtotal $ 9,526 $ 86 $ 3,296 $ 19 $ 10,755 $ 251 $ 2,736 $ 51 With no related allowance: Real estate—residential $ — $ — $ 249 $ 20 $ — $ — $ 294 $ 57 Real estate—commercial Retail 3,008 31 1,709 15 3,181 92 2,729 45 Hotel & motel 3,516 — 2,671 — 2,000 — 3,737 — Gas station & car wash 218 — 454 — 159 — 774 — Mixed use 36 — 104 — 56 — 2,701 — Industrial & warehouse 119 — 60 1 287 — 63 2 Other 4,364 63 3,806 46 5,574 181 4,205 116 Real estate—construction — — — — — — — — Commercial business 6,894 27 1,835 47 5,405 65 1,014 142 Trade finance 3,097 48 1,692 68 3,136 138 846 191 Consumer and other 1,531 — 684 2 1,373 — 518 6 Subtotal $ 22,783 $ 169 $ 13,264 $ 199 $ 21,171 $ 476 $ 16,881 $ 559 Total $ 32,309 $ 255 $ 16,560 $ 218 $ 31,926 $ 727 $ 19,617 $ 610 __________________________________ * Unpaid contractual principal balance less charge offs, interest collected applied to principal if on nonaccrual and purchase discounts. Generally, loans are placed on nonaccrual status if the principal and/or interest payments become 90 days or more past due and/or management deems the collectability of the principal and/or interest to be in question, as well as when required by regulatory requirements. Loans to customers 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 only when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. The Company did not recognize any cash basis interest income for the three and nine months ended September 30, 2018 or 2017 . The following table represent the recorded investment of nonaccrual loans and loans past due 90 or more days and still on accrual status by class of loans as of September 30, 2018 and December 31, 2017 . Nonaccrual Loans (1) Accruing Loans Past Due 90 or More Days September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 (Dollars in thousands) Legacy Loans: Real estate—residential $ — $ — $ — $ — Real estate—commercial Retail 5,284 3,179 — — Hotel & motel 6,783 3,931 — — Gas station & car wash 132 590 — — Mixed use 926 1,132 — — Industrial & warehouse 6,266 3,403 — — Other 8,895 5,689 — — Real estate—construction — 1,300 — — Commercial business 16,953 8,540 — — Trade finance 429 — — — Consumer and other 463 471 401 407 Subtotal $ 46,131 $ 28,235 $ 401 $ 407 Acquired Loans: (2) Real estate—residential $ — $ — $ — $ — Real estate—commercial Retail 916 638 — — Hotel & motel 5,532 568 — — Gas station & car wash 248 1 — — Mixed use — 152 — — Industrial & warehouse 356 221 — — Other 276 1,389 — — Real estate—construction — — — — Commercial business 1,737 14,560 — — Trade finance — — — — Consumer and other 1,103 1,011 — — Subtotal $ 10,168 $ 18,540 $ — $ — Total $ 56,299 $ 46,775 $ 401 $ 407 __________________________________ (1) Total nonaccrual loans exclude guaranteed portion of delinquent SBA loans that are in liquidation totaling $23.1 million and $22.1 million , at September 30, 2018 and December 31, 2017 , respectively. (2) Acquired Loans exclude PCI loans. The following tables present the recorded investment of past due loans, including nonaccrual loans past due 30 or more days, by the number of days past due as of September 30, 2018 and December 31, 2017 by class of loans: As of September 30, 2018 As of December 31, 2017 30-59 Days Past Due 60-89 Days Past Due 90 or More Days Past Due Total Past Due 30-59 Days 60-89 Days 90 or More Days Past Due Total (Dollars in thousands) Legacy Loans: Real estate—residential $ — $ — $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 1,374 — 813 2,187 3,239 — 285 3,524 Hotel & motel 4,605 1,852 3,573 10,030 1,884 1,172 2,635 5,691 Gas station & car wash — — 33 33 956 — 435 1,391 Mixed use — — 574 574 129 — 952 1,081 Industrial & warehouse 53 1,055 1,922 3,030 1,121 99 2,473 3,693 Other 1,365 2,561 2,269 6,195 1,409 — 5,425 6,834 Real estate—construction 5,125 — — 5,125 — — 1,300 1,300 Commercial business 843 404 5,956 7,203 698 516 2,508 3,722 Trade finance — — 429 429 — — — — Consumer and other 15,315 118 407 15,840 7,512 97 494 8,103 Subtotal $ 28,680 $ 5,990 $ 15,976 $ 50,646 $ 16,948 $ 1,884 $ 16,507 $ 35,339 Acquired Loans: (1) Real estate—residential $ — $ — $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 1,530 — 679 2,209 81 216 386 683 Hotel & motel — — 3,919 3,919 — 1,219 — 1,219 Gas station & car wash — — 221 221 1,161 41 1 1,203 Mixed use — — — — 151 — 152 303 Industrial & warehouse 143 — 119 262 804 264 221 1,289 Other 3,151 143 — 3,294 275 — — 275 Real estate—construction — — — — — — — — Commercial business 722 48 547 1,317 1,088 256 885 2,229 Trade finance — — — — — — — — Consumer and other — — 432 432 957 270 181 1,408 Subtotal $ 5,546 $ 191 $ 5,917 $ 11,654 $ 4,517 $ 2,266 $ 1,826 $ 8,609 Total Past Due $ 34,226 $ 6,181 $ 21,893 $ 62,300 $ 21,465 $ 4,150 $ 18,333 $ 43,948 __________________________________ (1) Acquired Loans exclude PCI loans. Loans accounted for under ASC 310-30 are generally considered accruing and performing and the accretable discount is accreted to interest income over the estimated life of the loan when cash flows are reasonably estimable. Accordingly, PCI loans that are contractually past due can 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. Homogeneous loans are not risk rated and credit risk is analyzed largely by the number of days past due. 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 potential weaknesses that deserve 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 borrower or by the collateral pledged, if any. Loans in this classification 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: 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 recorded investment of risk ratings for Legacy and Acquired Loans as of September 30, 2018 and December 31, 2017 by class of loans: As of September 30, 2018 Pass/ Not Rated Special Mention Substandard Doubtful Total (Dollars in thousands) Legacy Loans: Real estate—residential $ 34,949 $ — $ 918 $ — $ 35,867 Real estate—commercial Retail 1,796,421 10,988 20,986 — 1,828,395 Hotel & motel 1,319,042 23,480 14,426 1 1,356,949 Gas station & car wash 791,023 461 534 — 792,018 Mixed use 498,944 15,499 10,281 — 524,724 Industrial & warehouse 649,074 10,137 32,257 — 691,468 Other 1,288,683 54,357 24,861 — 1,367,901 Real estate—construction 194,187 10,600 6,776 — 211,563 Commercial business 1,903,115 47,199 56,137 — 2,006,451 Trade finance 179,459 4,725 3,760 429 188,373 Consumer and other 822,997 115 831 — 823,943 Subtotal $ 9,477,894 $ 177,561 $ 171,767 $ 430 $ 9,827,652 Acquired Loans: Real estate—residential $ 13,258 $ 396 $ 81 $ — $ 13,735 Real estate—commercial Retail 527,433 5,623 17,813 — 550,869 Hotel & motel 200,884 305 18,939 — 220,128 Gas station & car wash 157,845 275 8,091 — 166,211 Mixed use 80,845 4,847 9,417 — 95,109 Industrial & warehouse 197,537 4,907 20,706 233 223,383 Other 450,400 13,077 26,581 — 490,058 Real estate—construction 64,316 7,163 — — 71,479 Commercial business 98,002 1,392 20,698 65 120,157 Trade finance — — 3,232 — 3,232 Consumer and other 141,187 40 4,519 146 145,892 Subtotal $ 1,931,707 $ 38,025 $ 130,077 $ 444 $ 2,100,253 Total $ 11,409,601 $ 215,586 $ 301,844 $ 874 $ 11,927,905 As of December 31, 2017 Pass/ Special Mention Substandard Doubtful Total (Dollars in thousands) Legacy Loans: Real estate—residential $ 33,557 $ 1,147 $ 1,439 $ — $ 36,143 Real estate—commercial Retail 1,640,809 32,723 17,856 — 1,691,388 Hotel & motel 1,224,597 19,358 8,877 — 1,252,832 Gas station & car wash 737,485 9,013 590 — 747,088 Mixed use 421,755 4,581 1,477 — 427,813 Industrial & warehouse 577,344 16,716 24,317 — 618,377 Other 1,133,188 30,030 53,995 — 1,217,213 Real estate—construction 219,583 — 3,052 — 222,635 Commercial business 1,389,043 35,640 65,912 — 1,490,595 Trade finance 152,583 2,200 1,372 — 156,155 Consumer and other 477,370 5 908 — 478,283 Subtotal $ 8,007,314 $ 151,413 $ 179,795 $ — $ 8,338,522 Acquired Loans: Real estate—residential $ 13,369 $ 262 $ — $ — $ 13,631 Real estate—commercial Retail 630,555 6,921 20,797 — 658,273 Hotel & motel 275,191 4,247 24,987 — 304,425 Gas station & car wash 194,063 2,872 8,992 — 205,927 Mixed use 94,864 5,725 14,738 — 115,327 Industrial & warehouse 250,049 14,973 16,358 265 281,645 Other 568,545 19,848 33,335 — 621,728 Real estate—construction 93,777 — — — 93,777 Commercial business 236,705 8,593 44,964 12 290,274 Trade finance 7,455 — 3,054 — 10,509 Consumer and other 162,495 37 6,202 85 168,819 Subtotal $ 2,527,068 $ 63,478 $ 173,427 $ 362 $ 2,764,335 Total $ 10,534,382 $ 214,891 $ 353,222 $ 362 $ 11,102,857 The Company may reclassify loans held for investment to loans held for sale in the event that the Company plans to sell loans that were originated with the intent to hold to maturity. Loans transferred from held for investment to held for sale are carried at the lower of cost or fair value. The breakdown of loans by type that were reclassified from held for investment to held for sale for the three and nine months ended September 30, 2018 and 2017 is presented in the following table: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Transfer of loans held for investment to held for sale (Dollars in thousands) Real estate - commercial $ — $ — $ — $ 429 Consumer 525 — 6,680 — Total $ 525 $ — $ 6,680 $ 429 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 loans, 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) or pool and risk grade. The migration analysis is centered on the Bank’s internal credit risk rating system. Management’s internal loan review and externally 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 conditions; 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 positions; and the financial strength of any guarantors. A general loan loss allowance is provided on loans that are 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 the migration analysis methodology described above. 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 losses. That loss experience is then applied to the stratified portfolio at the end of each quarter. The Company utilizes nineteen non-homogeneous loan pools in the quantitative analysis process. The non-impaired commercial real estate loan portfolio is stratified into fourteen different loan pools based on property types and the non-impaired commercial and industrial and consumer loans are stratified into five different loan pools based on loan type in order to allocate historic loss experience on a more granular basis. 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 or 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 the 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, legal requirements, and regulatory requirements on the level of estimated losses in the 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 in accordance with 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 or operation 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) w |
Deposits
Deposits | 9 Months Ended |
Sep. 30, 2018 | |
Banking and Thrift [Abstract] | |
Deposits | Deposits The aggregate amount of time deposits in denominations of more than $250 thousand at September 30, 2018 and December 31, 2017 , was $1.66 billion and $1.28 billion , respectively. Included in time deposits of more than $250 thousand were $300.0 million in California State Treasurer’s deposits at September 30, 2018 and December 31, 2017 . The California State Treasurer’s deposits are subject to withdrawal based on the State’s periodic evaluations. The Company is required to pledge eligible collateral of at least 110% of outstanding deposits. At September 30, 2018 and December 31, 2017 , securities with carrying values of approximately $335.6 million and $337.7 million , respectively, were pledged as collateral for the California State Treasurer’s deposit. The Company also utilizes brokered deposits as a secondary source of funds. Total brokered deposits at September 30, 2018 and December 31, 2017 , totaled $1.40 billion and $797.0 million , respectively. Brokered deposits at September 30, 2018 consisted of $298.3 million in money market and NOW accounts and $1.1 billion in time deposits accounts. Brokered deposits at December 31, 2017 consisted of $258.5 million in money market and NOW accounts and $538.5 million in time deposit accounts. |
Borrowings
Borrowings | 9 Months Ended |
Sep. 30, 2018 | |
Debt Disclosure [Abstract] | |
Borrowings | Borrowings The Company maintains a line of credit with the Federal Home Loan Bank (“FHLB”) of San Francisco as a secondary source of funds. The borrowing capacity with the FHLB is limited to the lower of 25% of the Bank’s total assets or the Bank’s collateral capacity, which was $3.72 billion at September 30, 2018 , and $3.54 billion at December 31, 2017 . 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 September 30, 2018 and December 31, 2017 , real estate secured loans with a carrying amount of approximately $5.93 billion and $4.91 billion , respectively, were pledged at the FHLB for outstanding advances and remaining borrowing capacity. At September 30, 2018 and December 31, 2017 , other than FHLB stock, no securities were pledged as collateral at FHLB. The purchase of FHLB stock is a prerequisite to become a member of the FHLB system, and the Company is required to own a certain amount of FHLB stock based on outstanding borrowings. At September 30, 2018 and December 31, 2017 , FHLB advances totaling $836.6 million and $1.16 billion , respectively, had weighted average effective interest rates of 1.76% and 1.63% , respectively. FHLB advances at September 30, 2018 and December 31, 2017 had various maturities through December 2022 . The effective interest rate of FHLB advances as of September 30, 2018 ranged between 1.06% and 2.39% . At September 30, 2018 , the Company’s remaining borrowing capacity with the FHLB was $2.87 billion . At December 31, 2017 , the Company also had $69.9 million in overnight federal funds purchased from lines at other banks. There were no federal funds purchased from other banks at September 30, 2018 . At September 30, 2018 , the contractual maturities for FHLB advances were as follows: September 30, 2018 Scheduled maturities in: (Dollars in thousands) 2018 $ 40,000 2019 320,000 2020 185,000 2021 145,000 2022 and thereafter 145,000 Premium on acquired advances - no maturity 1,637 Total $ 836,637 As a member of the Federal Reserve Bank (“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 fair market value of the qualifying loans and securities that are pledged. At September 30, 2018 , the outstanding principal balance of the qualifying loans pledged at the FRB was $984.7 million and there were no investment securities pledged. At September 30, 2018 and December 31, 2017 , the total available borrowing capacity at the FRB discount window was $784.5 million and $564.6 million , respectively. There were no borrowings outstanding at the FRB discount window as of September 30, 2018 and December 31, 2017 . |
Subordinated Debentures and Con
Subordinated Debentures and Convertible Notes | 9 Months Ended |
Sep. 30, 2018 | |
Subordinated Borrowings [Abstract] | |
Subordinated Debentures and Convertible Notes | Subordinated Debentures and Convertible Notes Subordinated Debt At September 30, 2018 , the Company had nine wholly owned subsidiary grantor trusts that had issued $126.0 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”). 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 a quarterly basis 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 September 30, 2018 : Issuance Trust Issuance Date Trust Preferred Security Amount Carrying Rate Type Current Rate Maturity Date (Dollars in thousands) Nara Capital Trust III 06/05/2003 $ 5,000 $ 5,155 Variable 5.48% 06/15/2033 Nara Statutory Trust IV 12/22/2003 5,000 5,155 Variable 5.19% 01/07/2034 Nara Statutory Trust V 12/17/2003 10,000 10,310 Variable 5.28% 12/17/2033 Nara Statutory Trust VI 03/22/2007 8,000 8,248 Variable 3.98% 06/15/2037 Center Capital Trust I 12/30/2003 18,000 13,975 Variable 5.19% 01/07/2034 Wilshire Trust II 03/17/2005 20,000 15,472 Variable 4.12% 03/17/2035 Wilshire Trust III 09/15/2005 15,000 10,903 Variable 3.73% 09/15/2035 Wilshire Trust IV 07/10/2007 25,000 17,688 Variable 3.71% 09/15/2037 Saehan Capital Trust I 03/30/2007 20,000 14,751 Variable 4.02% 06/30/2037 Total $ 126,000 $ 101,657 The Company’s investment in the common trust securities of the issuer trusts was $3.9 million at September 30, 2018 and is included in other assets. Although the subordinated debt issued by the trusts is not included as a component of stockholders’ equity in the consolidated statements of financial condition, the debt is treated as capital for regulatory purposes. The trust preferred security debt issuances are now includable in Tier 2 capital. Under the “Merger and Acquisition Transition Provisions” in BASEL III, if a depository institution holding company of $15 billion or more acquires a depository institution holding company with total consolidated assets of less than $15 billion as of December 31, 2009, the non-qualifying capital instruments of the resulting organization will be subject to a phase-out schedule. The phase-out schedule ended in 2016 and therefore in accordance with BASEL III, the Company’s subordinated debenture no longer qualify for Tier 1 capital treatment as the Company acquired depository institutions subsequent to 2009 and the Company exceeded total consolidated assets of $15 billion as of September 30, 2018. The subordinated debentures are still eligible for inclusion in Tier 2 capital. Convertible Notes On May 11, 2018, the Company issued $200 million aggregate principal amount of 2.00% convertible senior notes maturing on May 15, 2038 in a private offering to qualified institutional investors under Rule 144A of the Securities Act of 1933. Subsequently on June 7, 2018, an additional $17.5 million in convertible notes were issued as part of the initial offering over-allotment option. In total, the Company issued $217.5 million in convertible notes during the second quarter of 2018. The convertible notes can be converted to the Company’s share of common stock at an initial rate of 45.0760 shares per $1,000 principal amount of the notes (equivalent to an initial conversion price of approximately $22.18 per share of common stock which represents a premium of 22.5% to the closing stock price on the date of the pricing of the notes). Holders of the convertible notes have the option to convert all or a portion of the the notes at any time on or after February 15, 2023. Prior to February 15, 2023, the convertible notes cannot be converted unless under certain specified scenarios. The convertible notes can be called by the Company, in part or in whole, on or after May 20, 2023 for 100% of the principal amount in cash. Holders of the convertible notes also have the option to repurchase or put the notes on May 15, 2023, May 15, 2028, or May 15, 2033 for 100% of the principal amount in cash. The convertible notes can be settled in entirely cash, stock, or a combination of stock and cash at the option of the Company. The convertible notes were issued as part of the Company’s plan to repurchase its common stock. On April 26, 2018, the Company’s Board of Directors approved a share repurchase program that authorized the Company to use up to $100.0 million of the proceeds from the convertible notes offering to repurchase its common stock. The net proceeds from the offering, after deducting the initial purchaser’s discount, was approximately $213.2 million . Of the total net proceeds, $113.2 million was down-streamed to the Bank as equity and the remaining $100.0 million was allocated for share repurchases. The Company used approximately $76.0 million of the allocated $100.0 million for share repurchases to repurchase shares of its common stock from purchasers of the convertible notes in privately negotiated transactions at a purchase price per share equal to the $18.11 per share closing price of the Company’s common stock. Subsequently, the Company repurchased additional shares of common stock on the open market. As of September 30, 2018, the Company completed the share repurchases with repurchases totaling $100.0 million , or 5.6 million shares at a weighted average price of $17.9598 . In accordance with accounting principles, the convertible notes issued by the Company were separated into a debt component and an equity component which represents the stock conversion option. The present value of the convertible notes was calculated based on a discount rate of 4.25% , which represented the current offering rate for similar types of debt without conversion options. The effective life of the convertible notes was estimated to be five years based on the first call and put date. The difference between the principal amount of the notes and the present value was recorded as the convertible note discount and additional paid-in capital. The issuance costs related to the offering were also allocated into a debt component to be capitalized, and an equity component in the same percentage allocation of debt and equity of the convertible note. The value of the convertible note at issuance and carrying value as of September 30, 2018 is presented below: As of September 30, 2018 Amortization/ Capitalization Period Gross Accumulated Carrying Amount (Dollars in thousands) Convertible notes principal balance $ 217,500 $ — $ 217,500 Discount 5 years (21,880 ) 1,531 (20,349 ) Issuance costs to be capitalized 5 years (4,119 ) 300 (3,819 ) Carrying balance of convertible notes $ 191,501 $ 1,831 $ 193,332 Interest expense on the convertible notes for the three and nine months ended September 30, 2018 totaled $2.3 million and $3.5 million , respectively. Interest expense for the Company’s convertible notes includes accrued interest on the convertible note coupon, non-cash interest expense representing the conversion option or note discount, and interest expense from capitalized issuance costs. Non-cash interest expense and issuance cost capitalization expense will only be recorded for the first five outstanding years of the convertible notes. Subsequent to May 15, 2023, interest expense on the convertible note will consist of only accrued interest on the coupon. |
Derivative Financial Instrument
Derivative Financial Instruments (Notes) | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | 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 is recognized in the income statement in other income and fees. At September 30, 2018 and December 31, 2017 , interest rate swaps related to the Company’s loan hedging program that were outstanding is presented in the following table: As of September 30, 2018 As of December 31, 2017 (Dollars in thousands) Interest rate swaps on loans with correspondent banks: Notional amount $ 301,852 $ 274,156 Weighted average remaining term 6.5 years 7.3 years Received fixed rate (weighted average) 4.43 % 4.34 % Pay variable rate (weighted average) 4.43 % 3.74 % Estimated fair value $ 12,685 $ 2,838 Back to back interest rate swaps with loan customers: Notional amount $ 301,852 $ 274,156 Weighted average remaining term 6.5 years 7.3 years Received variable rate (weighted average) 4.43 % 3.74 % Pay fixed rate (weighted average) 4.43 % 4.34 % Estimated fair value $ (12,685 ) $ (2,838 ) The Company enters into various stand-alone mortgage-banking derivatives in order to hedge the risk associated with the fluctuation of interest rates. Changes in fair value are recorded as mortgage banking revenue. Residential mortgage loans funded with interest rate lock commitments and forward commitments for the future delivery of mortgage loans to third party investors are considered derivatives. At September 30, 2018 , the Company had approximately $9.2 million in interest rate lock commitments and total forward sales commitments for the future delivery of residential mortgage loans. At December 31, 2017 , the Company had approximately $4.8 million in interest rate lock commitments and total forward sales commitments for the future delivery of residential mortgage loans. The following table reflects the notional amount and fair value of mortgage banking derivatives for the dates indicated: As of September 30, 2018 As of December 31, 2017 Notional Amount Fair Value Notional Amount Fair Value (Dollars in thousands) Assets: Interest rate lock commitments $ 7,964 $ 40 $ 4,795 $ 25 Forward sale contracts related to mortgage banking $ 4,331 $ 14 $ 2,452 $ 8 Liabilities: Interest rate lock commitments $ 1,241 $ (2 ) $ — $ — Forward sale contracts related to mortgage banking $ 8,871 $ (9 ) $ 2,343 $ 5 |
Commitments and contingencies
Commitments and contingencies | 9 Months Ended |
Sep. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies In the normal course of business, the Company is a party to financial instruments with off-balance sheet risk that are used to meet the financing needs of customers. These financial instruments include commitments to extend credit, standby letters of credit, commercial letters of credit, commitments to fund investments in affordable housing partnerships, mortgage derivatives, and operating lease commitments. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated statements of financial condition. The Company’s exposure to credit loss in the event of nonperformance on commitments to extend credit and standby letters of credit is represented by the contractual notional amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as the Company does for extending loan facilities to customers. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary upon extension of credit, is based on the Company’s credit evaluation of the counterparty. The types of collateral that the Company may hold can vary and may include accounts receivable, inventory, property, plant and equipment, and income-producing properties. Commitments at September 30, 2018 and December 31, 2017 are summarized as follows: September 30, 2018 December 31, 2017 (Dollars in thousands) Commitments to extend credit $ 1,733,485 $ 1,526,981 Standby letters of credit 71,814 74,748 Other letters of credit 75,406 74,147 Commitments to fund investments in affordable housing partnerships 57,701 38,467 Interest rate lock 9,206 4,795 Forward sale commitments 9,206 4,795 Operating lease commitments 67,246 66,698 In the normal course of business, the Company is involved in various legal claims. Management has reviewed all legal claims against the Company with counsel and has taken into consideration the views of such counsel as to the potential outcome of the claims. Loss contingencies for all legal claims totaled $500 thousand at September 30, 2018 and $414 thousand at December 31, 2017 . It is reasonably possible the Company may incur losses in addition to the amounts currently accrued. However, at this time, the Company is unable to estimate the range of additional losses that are reasonably possible because of a number of factors, including the fact that certain of these litigation matters are still in their early stages and involve claims that management believes has little to no merit. Management has considered these and other possible loss contingencies and does not expect the amounts to be material to the consolidated financial statements. |
Goodwill, Intangible Assets, an
Goodwill, Intangible Assets, and Servicing Assets | 9 Months Ended |
Sep. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill, Intangible Assets, and Servicing Assets | Goodwill, Intangible Assets, and Servicing Assets Goodwill represents the excess of the purchase price over the sum of the estimated fair values of the tangible and identifiable intangible assets acquired less the estimated fair value of the liabilities assumed. Goodwill has an indefinite useful life and is evaluated for impairment annually or more frequently if events and circumstances indicate that the asset might be impaired. An impairment loss is recognized to the extent that the carrying amount exceeds the asset’s fair value. At December 31, 2017, management assessed the qualitative factors related to intangible assets and goodwill and for the year to determine whether it was more-likely-than-not that the fair value was less than its carrying amount. Based on the analysis of these factors, management determined that it was more-likely-than-not that intangible assets were not impaired and that the fair value of goodwill exceeded the carrying value and that the two-step goodwill impairment test was not needed. Goodwill is not amortized for book purposes and is not tax deductible. The carrying amount of the Company’s goodwill as of September 30, 2018 and December 31, 2017 was $464.5 million . There was no impairment of goodwill during the three and nine months ended September 30, 2018 . 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 $615 thousand and $676 thousand for the three months ended September 30, 2018 and 2017 , respectively. The amortization expense related to core deposit intangible assets totaled $1.8 million and $2.0 million for the nine months ended September 30, 2018 and 2017 , respectively. The following table provides information regarding the core deposit intangibles at September 30, 2018 : As of September 30, 2018 Core Deposit Intangibles Related To: Amortization Period Gross Carrying Amount Accumulated Amortization Carrying Amount (Dollars in thousands) Center Financial acquisition 7 years $ 4,100 $ (4,066 ) $ 34 Pacific International Bank acquisition 7 years 604 (567 ) 37 Foster Bankshares acquisition 10 years 2,763 (1,829 ) 934 Wilshire Bancorp acquisition 10 years 18,138 (4,466 ) 13,672 Total $ 25,605 $ (10,928 ) $ 14,677 Servicing assets are recognized when SBA and residential mortgage loans are sold with servicing retained with the income statement effect recorded in gains on sales of 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. 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. As of September 30, 2018 and December 31, 2017 , the Company did not have a valuation allowance for servicing assets. The changes in servicing assets for the three and nine months ended September 30, 2018 and 2017 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Balance at beginning of period $ 25,050 $ 25,338 $ 24,710 $ 26,457 Additions through originations of servicing assets 1,503 1,484 4,819 4,096 Amortization (2,199 ) (1,743 ) (5,845 ) (5,474 ) Adjustments — — 670 — Balance at end of period $ 24,354 $ 25,079 $ 24,354 $ 25,079 Loans serviced for others are not reported as assets. The principal balances of loans serviced for other institutions were $1.56 billion as of September 30, 2018 and $1.51 billion as of December 31, 2017 . The Company utilizes the discounted cash flow method to calculate the initial excess servicing assets. The inputs used in evaluating servicing assets for impairment at September 30, 2018 and December 31, 2017 are presented below. September 30, 2018 December 31, 2017 SBA Servicing Assets: Weighted-average discount rate 10.42% 11.13% Constant prepayment rate 10.57% 8.38% Mortgage Servicing Assets: Weighted-average discount rate 10.38% 9.63% Constant prepayment rate 6.51% 9.05% |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes For the three months ended September 30, 2018 , the Company had an income tax provision totaling $15.5 million on pretax income of $61.8 million , representing an effective tax rate of 25.00% , compared with an income tax provision of $27.7 million on pretax income of $72.3 million , representing an effective tax rate of 38.34% for the three months ended September 30, 2017 . For the nine months ended September 30, 2018 , the Company had an income tax provision totaling $49.8 million on pretax income of $195.0 million , representing an effective tax rate of 25.56% , compared with an income tax provision of $76.2 million on pretax income of $197.6 million , representing an effective tax rate of 38.54% for the nine months ended September 30, 2017 . The reduction in effective tax rate for periods in 2018 compared to periods 2017 was primarily due to the reduction of the corporate federal income tax rate from 35% to 21% under comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (“Tax Act”) effective as of December 22, 2017. The increase in affordable housing partnership investment tax credits for the three and nine months ended September 30, 2018 compared to the three and nine months ended September 30, 2017 , also contributed to the decline in the tax rate. As of September 30, 2018 , the Company has not yet completed accounting for the enactment of the Tax Act; however, the Company believes it has reasonably estimated the effects of the Tax Act by recording an income tax expense of $25.4 million for the year ended December 31, 2017 in accordance with SEC Staff Accounting Bulletin No. 118 (“SAB 118”). As required by SAB 118, the Company will continue to evaluate and re-measure the impact of the Tax Act on deferred tax amounts that existed at December 31, 2017 and record appropriate income tax provision amounts in 2018. As a result of this process, through the third quarter of 2018, the Company recorded an additional income tax provision expense of $16 thousand for the nine months ended September 30, 2018 . 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 $2.4 million at September 30, 2018 and $2.1 million at December 31, 2017 , that relate to uncertainties associated with federal and state income tax matters. The Company recognizes interest and penalties on income tax matters in income tax expense. The Company recorded approximately $476 thousand and $348 thousand , for accrued interest ( no portion was related to penalties) at September 30, 2018 and December 31, 2017 , respectively. Management believes it is reasonably possible that the unrecognized tax benefits may decrease by $2.4 million in the next twelve months due to a settlement with the state tax authorities. The statute of limitations for the assessment of income taxes related to the consolidated federal income tax returns is closed for all tax years up to and including 2014. The expiration of the statute of limitations for the assessment of income and franchise taxes related to the various state income and franchise tax returns varies by state. The Company is currently under examination by the California Franchise Tax Board (FTB) for the 2011, 2012 and 2013 tax years. New York State examinations for the 2013, 2014, and 2015 tax years were recently concluded with no material adjustments. Wilshire Bancorp, Inc., an acquired entity, is currently under examination by the FTB for the 2011, 2012, and 2013 tax years. While the outcome of the examinations is unknown, the Company expects no material adjustments. Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities (without regard to certain changes to deferred taxes). 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 September 30, 2018 . |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date reflecting assumptions that a market participant would use when pricing an asset or liability. There are three levels of inputs that may be used to measure fair value. The fair value inputs of the instruments are classified and disclosed in one of the following categories pursuant to ASC 820: Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. The quoted price shall not be adjusted for any blockage factor (i.e., size of the position relative to trading volume). Level 2 - Pricing inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Fair value is determined through the use of models or other valuation methodologies, including the use of pricing matrices. If the asset or liability has a specified (contractual) term, a Level 2 input must be observable for substantially the full term of the asset or liability. Level 3 - Pricing inputs are unobservable for the asset or liability. Unobservable inputs are used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. The inputs into the determination of fair value require significant management judgment or estimation. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. The Company uses the following methods and assumptions in estimating fair value disclosures for financial instruments. Financial assets and liabilities recorded at fair value on a recurring and non-recurring basis are listed as follows: 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. Equity Investments With Readily Determinable Fair Value The fair value of our equity investments with readily determinable fair value is comprised of mutual funds and equity stock. The fair value for these investments is obtained from unadjusted quoted prices in active markets on the date of measurement and is therefore classified as Level 1. Interest Rate Swaps The Company offers interest rate swaps to certain loan customers to allow them to hedge the risk of rising interest rates on their variable rate loans. The Company originates a variable rate loan and enters into a variable-to-fixed interest rate swap with the customer. The Company also enters into an offsetting swap with a correspondent bank. These back-to-back agreements are intended to offset each other and allow the Company to originate a variable rate loan, while providing a contract for fixed interest payments for the customer. The net cash flow for the Company is equal to the interest income received from a variable rate loan originated with the customer. The fair value of these derivatives is based on a discounted cash flow approach. Due to the observable nature of the inputs used in deriving the fair value of these derivative contracts, the valuation of interest rate swaps is classified as Level 2. Mortgage banking derivatives Mortgage banking derivative instruments consist of interest rate lock commitments and forward sale contracts that trade in liquid markets. The fair value is based on the prices available from third party investors. Due to the observable nature of the inputs used in deriving the fair value, the valuation of mortgage banking derivatives are classified as Level 2. Impaired Loans The fair values of impaired loans are generally measured for impairment using the practical expedients permitted by FASB ASC 310-10-35 including impaired loans measured at an observable market price (if available), or at the fair value of the loan’s collateral (if the loan is collateral dependent). Fair value of the loan’s collateral, when the loan is dependent on collateral, is determined by appraisals or independent valuation, less costs to sell of 8.5% . For commercial and industrial and asset backed loans, independent valuations may be comprised of a 20 - 60% discount for eligible accounts receivable and a 50 - 70% discount for inventory. These result in a Level 3 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 of 8.5% and result in a Level 3 classification of the inputs for determining fair value. OREO is reviewed and evaluated on at least a quarterly 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 September 30, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) Assets: Securities available for sale: U.S. Government agency and U.S. Government sponsored enterprises: Collateralized mortgage obligations $ 911,881 $ — $ 911,881 $ — Mortgage-backed securities: — — Residential 412,708 — 412,708 — Commercial 448,326 — 448,326 — Corporate securities 4,349 — 4,349 — Municipal securities 76,986 — 75,943 1,043 Equity investments with readily determinable fair value 23,858 23,858 — — Interest rate swaps 12,685 — 12,685 — Mortgage banking derivatives 54 — 54 — Liabilities: Interest rate swaps 12,685 — 12,685 — Mortgage banking derivatives 11 — 11 — Fair Value Measurements at the End of the Reporting Period Using December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) Assets: Securities available for sale: U.S. Government agency and U.S. Government sponsored enterprises: Collateralized mortgage obligations $ 838,709 $ — $ 838,709 $ — Mortgage-backed securities: Residential 471,214 — 471,214 — Commercial 301,365 — 301,365 — Corporate securities 4,475 — 4,475 — Municipal securities 82,537 — 81,429 1,108 Mutual funds 21,957 21,957 — — Interest rate swaps 2,838 — 2,838 — Mortgage banking derivatives 33 — 33 — Liabilities: Interest rate swaps 2,838 — 2,838 — Mortgage banking derivatives 5 — 5 — There were no transfers between Level 1, 2, and 3 during the three and nine months ended September 30, 2018 and 2017 . The table below presents a reconciliation and income statement classification of losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2018 and 2017 : Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Beginning Balance $ 1,065 $ 1,127 $ 1,108 $ 1,139 Total losses included in other comprehensive income (loss) (22 ) (7 ) (65 ) (19 ) Ending Balance $ 1,043 $ 1,120 $ 1,043 $ 1,120 The Company measures certain assets at fair value on a non-recurring basis including impaired loans (excluding PCI loans), loans held for sale, and OREO. These fair value adjustments result from impairments recognized during the period, application of the lower of cost or fair value on loans held for sale, and the application of fair value less cost to sell on OREO. Assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at the End of the Reporting Period Using September 30, 2018 Quoted Prices Significant Significant (Dollars in thousands) Assets: Impaired loans at fair value: Real estate loans $ 11,043 $ — $ — $ 11,043 Commercial business 7,293 — — 7,293 Consumer 66 — — 66 OREO 4,062 — — 4,062 Fair Value Measurements at the End of the Reporting Period Using December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) Assets: Impaired loans at fair value: Real estate loans $ 6,086 $ — $ — $ 6,086 Commercial business 3,320 — — 3,320 Consumer 84 — — 84 OREO 5,615 — — 5,615 For assets measured at fair value on a non-recurring basis, the total net gains (losses), which include charge offs, recoveries, specific reserves, and recognized gains and losses on sales are summarized below: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Assets: Impaired loans at fair value: Real estate loans $ (14 ) $ 142 $ (4,620 ) $ (2,293 ) Commercial business 89 364 703 (4,637 ) Trade Finance 268 3 43 (1,236 ) Consumer (308 ) (206 ) (834 ) (701 ) Loans held for sale, net — 847 — 1,619 OREO 418 (640 ) 682 (1,967 ) Fair Value of Financial Instruments Carrying amounts and estimated fair values of financial instruments, not previously presented, at September 30, 2018 and December 31, 2017 were as follows: September 30, 2018 Carrying Estimated Fair Value Measurement Using (Dollars in thousands) Financial Assets: Cash and cash equivalents $ 522,710 $ 522,710 Level 1 Interest bearing deposits in other financial institutions and other investments 80,316 80,253 Level 1/2/3 Loans held for sale 15,023 15,820 Level 2 Loans receivable—net 11,836,553 11,753,800 Level 3 FHLB stock 25,927 N/A N/A Accrued interest receivable 33,338 33,338 Level 2/3 Servicing assets, net 24,354 26,325 Level 3 Customers’ liabilities on acceptances 1,259 1,259 Level 2 Financial Liabilities: Noninterest bearing deposits $ 3,020,819 $ 3,020,819 Level 2 Saving and other interest bearing demand deposits 3,476,501 3,476,501 Level 2 Time deposits 5,548,299 5,564,899 Level 2 FHLB advances 836,637 836,637 Level 2 Convertible notes, net 193,332 202,434 Level 1 Subordinated debentures 101,657 117,626 Level 2 Accrued interest payable 31,717 31,717 Level 2 Acceptances outstanding 1,259 1,259 Level 2 December 31, 2017 Carrying Estimated Fair Value Measurement Using (Dollars in thousands) Financial Assets: Cash and cash equivalents $ 492,000 $ 492,000 Level 1 Interest bearing deposits in other financial institutions and other investments 53,366 52,960 Level 2/3 Loans held for sale 29,661 32,048 Level 2 Loans receivable—net 11,018,034 11,112,179 Level 3 FHLB stock 29,776 N/A N/A Accrued interest receivable 29,979 29,979 Level 2/3 Servicing assets, net 24,710 27,511 Level 3 Customers’ liabilities on acceptances 1,691 1,691 Level 2 Financial Liabilities: Noninterest bearing deposits $ 2,998,734 $ 2,998,734 Level 2 Saving and other interest bearing demand deposits 3,573,212 3,573,212 Level 2 Time deposits 4,274,663 4,263,585 Level 2 FHLB advances 1,157,693 1,220,529 Level 2 Federal funds purchased 69,900 69,900 Level 2 Subordinated debentures 100,853 100,853 Level 2 Accrued interest payable 15,961 15,961 Level 2 Acceptances outstanding 1,691 1,691 Level 2 During the first quarter of 2018, the Company adopted ASU 2016-01, “ Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities .” Among other things, the guidance requires the Company to base their fair value disclosures for financial instruments that are not measured at fair value in the financial statements on the exit price notion as opposed to an entry pricing notion. As of December 31, 2017, the Company used the entry prices to measure the fair value of certain assets and liabilities including loans, deposits, and subordinated debentures as permitted by ASC 820-10. However, upon adoption of ASU 2016-01, the Company began measuring these assets and liabilities based on the exit price notion. Although the exit price notion represents the value that would be received to sell an asset or paid to transfer a liability, the actual price received for a sale of assets or paid to transfer liabilities could be different from exit price disclosed. 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, 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 loans the fair value is determined through a discounted cash flow analysis which incorporates probability of default and loss given default rates on an individual loan basis. The discount rate is based on the LIBOR Swap Rate for fixed rate loans, while variable loans start with the corresponding index rate and an adjustment was made on certain loans which considered factors such as servicing costs, capital charges, duration, asset type incremental costs, and use of projected cash flows. Residential real estate loans fair values included Fannie Mae and Freddie Mac prepayment speed assumptions or a third party index based on historical prepayment speeds. Fair value of time deposits is based discounted cash flow analysis using recent issuance rates over the prior three months and a market rate analysis of recent offering rates for retail products. Wholesale time deposits fair values incorporated brokered time deposit offering rates. The fair value of the Company’s debt is based on current rates for similar financing. Fair value for the Company’s convertible notes is based on the actual last traded price of the notes. 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 | 9 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
Stockholders’ Equity | Stockholders’ Equity Total stockholders’ equity at September 30, 2018 was $1.90 billion , compared to $1.93 billion at December 31, 2017 . 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 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 September 30, 2018 , the U.S. Treasury Department held one remaining warrant for the purchase of 20,845 shares of the Company’s common stock. During the second quarter of 2018, the Company recorded $21.4 million in additional paid-in capital from the convertible notes issued. The $21.4 million included $21.9 million for the equity component of the convertible notes offset by $461 thousand in issuance costs from the convertible notes that was allocated to equity. The Company also recorded a tax adjustment on the equity component of the convertible notes reducing additional paid-in capital by $6.4 million . On April 26, 2018, the Company’s Board of Directors approved a share repurchase program that authorized the Company to repurchase up to $100.0 million in common stock. During the second and third quarter of 2018, the Company repurchased 5,565,696 shares of common stock totaling $100.0 million as part of the share repurchase program which was recorded as treasury stock. This led to a decline in stockholders’ equity at September 30, 2018 compared to December 31, 2017 . On September 20, 2018, the Company’s Board of Directors approved another approved another share repurchase program that authorizes the Company to repurchase an additional $50 million of its common stock. The Company paid a quarterly dividend of $0.14 per common share during the third quarter of 2018 compared to $0.13 per common share during the third quarter of 2017 . For the nine months ended September 30, 2018 and 2017 , the Company paid total dividends of $0.40 and $0.37 per common share, respectively. The following table presents the quarterly changes to accumulated other comprehensive (loss) income for the three and nine months ended September 30, 2018 and September 30, 2017 : Three Months Ended, September 30, 2018 September 30, 2017 (Dollars in thousands) Balance at beginning of period $ (45,122 ) $ (10,089 ) Unrealized loss on securities available for sale and interest only strips (13,114 ) (211 ) Tax effect 3,915 89 Total other comprehensive (loss) income $ (9,199 ) $ (122 ) Balance at end of period $ (54,321 ) $ (10,211 ) Nine Months Ended, September 30, 2018 September 30, 2017 (Dollars in thousands) Balance at beginning of period $ (21,781 ) $ (14,657 ) Unrealized gains on securities available for sale and interest only strips (47,012 ) 7,697 Tax effect 14,191 (3,251 ) Total other comprehensive (loss) income $ (32,821 ) $ 4,446 Reclassification to retained earnings per ASU 2016-01 281 — Balance at end of period $ (54,321 ) $ (10,211 ) During the first quarter of 2018, the Company adopted ASU 2016-01 “ Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities.” As a result of the adoption of ASU 2016-01, the Company no longer accounts for mutual funds as available-for-sale securities and accounts for these investments as equity investments with changes to fair value recorded through earnings. In accordance with ASU 2016-01, the Company reclassified $281 thousand in net unrealized losses included in other comprehensive income, net of taxes to retained earnings on January 1, 2018. For the three and nine months ended and September 30, 2018 and 2017 , there were no other reclassifications out of accumulated other comprehensive (loss) income. |
Regulatory Matters
Regulatory Matters | 9 Months Ended |
Sep. 30, 2018 | |
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 material and adverse effect on the Company’s and the Bank’s business, financial condition and results of operation, 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. 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 is being 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. The capital conservation buffer for the Company was initially 0.625% in 2016 and increases 0.625% annually until 2019. As of September 30, 2018 , the capital conservation buffer for the Company stood at 1.875%. Under the “Merger and Acquisition Transition Provisions” in BASEL III, if a depository institution holding company of $15 billion or more acquires a depository institution holding company with total consolidated assets of less than $15 billion as of December 31, 2009, the non-qualifying capital instruments of the resulting organization will be subject to a phase-out schedule. The phase-out schedule ended in 2016 and therefore in accordance with BASEL III. During the third quarter of 2018, the Company exceeds total consolidated assets of $15 billion largely due to previously acquired depository institutions. As a result, the Company’s subordinated debenture no longer qualify for Tier 1 capital treatment as of September 30, 2018 . Instead the subordinated debentures as of September 30, 2018 are included in Tier 2 capital. As of September 30, 2018 , the ratios for the Company and the Bank were sufficient to meet the fully phased-in conservation buffer. As of September 30, 2018 and December 31, 2017 , the most recent regulatory notification categorized the Bank as “well-capitalized” under the regulatory framework for prompt corrective action. To generally be categorized as “well-capitalized”, the Bank must maintain minimum total risk-based, Tier 1 risk-based, common equity Tier 1, and Tier 1 leverage ratios as set forth in the following table. There are no conditions or events since the most recent notification from regulators that management believes has changed the institution’s category. The Company’s and the Bank’s levels and ratios are presented in the table below for the dates indicated: Actual Required Minimum Capital Adequacy With Capital Conservation Buffer Required As of September 30, 2018 Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Common equity Tier 1 capital (to risk weighted assets): Company $ 1,480,530 11.61 % $ 573,630 4.50 % $ 812,643 6.375 % N/A N/A Bank $ 1,759,538 13.80 % $ 573,609 4.50 % $ 812,613 6.375 % $ 828,546 6.50 % Total capital (to risk-weighted assets): Company $ 1,669,650 13.10 % $ 1,019,787 8.00 % $ 1,258,800 9.875 % N/A N/A Bank $ 1,850,902 14.52 % $ 1,019,749 8.00 % $ 1,258,753 9.875 % $ 1,274,686 10.00 % Tier 1 capital Company $ 1,480,530 11.61 % $ 764,841 6.00 % $ 1,003,853 7.875 % N/A N/A Bank $ 1,759,538 13.80 % $ 764,812 6.00 % $ 812,613 7.875 % $ 1,019,749 8.00 % Tier 1 capital Company $ 1,480,530 10.13 % $ 584,335 4.00 % N/A N/A N/A N/A Bank $ 1,759,538 12.04 % $ 584,597 4.00 % N/A N/A $ 730,747 5.00 % Actual Required Minimum Capital Adequacy With Capital Conservation Buffer Required As of December 31, 2017 Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Common equity Tier 1 capital (to risk weighted assets): Company $ 1,471,193 12.30 % $ 538,435 4.50 % $ 688,000 5.75 % N/A N/A Bank $ 1,548,401 12.95 % $ 538,178 4.50 % $ 687,672 5.75 % $ 777,368 6.50 % Total capital (to risk-weighted assets): Company $ 1,653,521 13.82 % $ 957,217 8.00 % $ 1,106,782 9.25 % N/A N/A Bank $ 1,633,778 13.66 % $ 956,761 8.00 % $ 1,106,255 9.25 % $ 1,195,951 10.00 % Tier 1 capital Company $ 1,568,144 13.11 % $ 717,913 6.00 % $ 867,478 7.25 % N/A N/A Bank $ 1,548,401 12.95 % $ 717,571 6.00 % $ 687,672 7.25 % $ 956,761 8.00 % Tier 1 capital Company $ 1,568,144 11.54 % $ 543,528 4.00 % N/A N/A N/A N/A Bank $ 1,548,401 11.40 % $ 543,441 4.00 % N/A N/A $ 679,301 5.00 % |
Revenue Recognition
Revenue Recognition | 9 Months Ended |
Sep. 30, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | Revenue Recognition On January 1, 2018, the Company adopted ASU 2014-09 “ Revenue from Contracts with Customers ” (Topic 606) and all subsequent issued ASUs that are related to Topic 606. The implementation of the new standard did not have a material impact on the measurement or recognition of revenue and a cumulative effect adjustment to opening retained earnings was not material and deemed unnecessary. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period results were not adjusted and continue to be reported in accordance with previous accounting guidance under Topic 605. Topic 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities. In addition, certain noninterest income streams such as fees associated with mortgage servicing rights, financial guarantees, derivatives, and certain credit card fees are also out of scope of the new guidance. Topic 606 is applicable to noninterest revenue streams such as deposit related fees, wire transfer fees, and certain OREO related net gains or expenses. However, the recognition of these revenue streams for the Company did not change significantly upon adoption of Topic 606. Noninterest revenue streams within the scope of Topic 606 are discussed below. Service Charges on Deposit Accounts and Wire Transfer Fees Service charges on noninterest and interest bearing deposit accounts consist of monthly service charges, customer analysis charges, non-sufficient funds (“NSF”) charges, and other deposit account related charges. The Company’s performance obligation for account analysis charges and monthly service charges is generally satisfied, and the related revenue is recognized over the period in which the service is provided. NSF charges, other deposit account related charges, and wire transfer fees are transaction based, and therefore the Company’s performance obligation is satisfied at the point of the transaction, and related revenue recognized at that point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts. Service charges on deposit accounts and wire transfers are summarized below: Three Months Ended September 30, Nine Months Ended September 30 2018 2017 2018 2017 (Dollars in thousands) Noninterest bearing deposit account income: Monthly service charges $ 455 $ 439 $ 1,340 $ 1,347 Customer analysis charges 1,912 2,109 5,972 6,452 NSF charges 1,961 2,344 5,947 7,077 Other service charges 225 245 679 743 Total noninterest bearing deposit account income 4,553 5,137 13,938 15,619 Interest bearing deposit account income: Monthly service charges 16 14 45 49 Total service fees on deposit accounts $ 4,569 $ 5,151 $ 13,983 $ 15,668 Wire transfer fee income: Wire transfer fees $ 1,109 $ 1,168 $ 3,338 $ 3,497 Foreign exchange fees 118 119 346 319 Total wire transfer fees $ 1,227 $ 1,287 $ 3,684 $ 3,816 OREO Income (Expense) OREO are often sold in transactions that, under ASU 2014-09, may not be considered a contract with a customer because the sale of the asset may not be an output of the Company’s ordinary activities. However, sales of nonfinancial assets, including in-substance nonfinancial assets, should be accounted for in accordance with ASC 610-20, “ Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets” , which requires the Company to apply certain measurement and recognition concepts of ASC 606. Accordingly, the Company recognizes the sale of a real estate property, along with any associated gain or loss, when control of the property transfers to the buyer. For sales of existing real estate properties, this generally will occur at the point of sale. When the Company finances the sale of OREO to the buyer, the Company must assess whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. Application of the new revenue recognition standard does not materially change the amount and the timing of the gain/loss on sale of OREO and other nonfinancial assets. Further, there were no open OREO/nonfinancial assets sale contracts at the adoption date that required an evaluation under Topic 606. The Company recognized a net gain on sale of OREO of $208 thousand and a net loss on sale of OREO of $48 thousand for the three months ended September 30, 2018 and 2017 , respectively. For the nine months ended September 30, 2018 and 2017, the Company recognized a net gain on sale of OREO of $358 thousand and $34 thousand , respectively. |
Basis of Presentation Basis of
Basis of Presentation Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Basis Of Presentation [Abstract] | |
Consolidation | The consolidated financial statements include the accounts of Hope Bancorp and its wholly owned subsidiaries, principally Bank of Hope. All intercompany transactions and balances have been eliminated in consolidation. The Company has made all adjustments, that in the opinion of management, are necessary to fairly present the Company’s financial position at September 30, 2018 and December 31, 2017 and the results of operations for the three and nine months ended September 30, 2018 and 2017 . 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 (“GAAP”) 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 significantly from those estimates. |
Recent Accounting Pronouncements | Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”. Subsequently in July 2018, the FASB issued ASU 2018-10, “Codification Improvements to Topic 842, Leases” and ASU 2018-11, “Leases Topic 842, Targeted Improvements”, to provide additional clarification, implementation, and transition guidance on certain aspects of ASU 2016-02. ASU 2016-02 establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. ASU 2016-02, ASU 2018-10, and ASU 2018-11 are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for finance and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. Under ASU 2018-11, an additional transition option was provided that would allow entities to not apply the new guidance in the comparative periods they present in their financial statements in the year of adoption. Under this optional transition method, entities will be allowed to continue using and presenting leases under ASC 840 for prior years comparative periods and then prospectively adopt ASC 842 on January 1, 2019, recognizing a cumulative-effect adjustment to the opening balance of retained earnings. The Company expects to elect the transition option provided in ASU 2018-11 and the modified retrospective approach will be applied on January 1, 2019. The Company also expects to elect certain relief options offered in ASU 2016-02 including the package of practical expedients, the option not to separate lease and non-lease components and instead to account for them as a single lease component, and the option not to recognize right-of-use assets and lease liabilities that arise from short-term leases (i.e., leases with terms of twelve months or less). The Company estimated that there are approximately 100 operating leases that will be accounted for under ASU 2016-02 at the adoption date, and thus, will be recognized on the consolidated statements of condition as a right-of-use asset and a corresponding lease liability. In July 2018, the Company engaged a new software vendor to assist the Company with the administration and accounting of leases under ASU 2016-02. As of September 30, 2018, the Company has compiled a complete inventory of its leases which have been entered into the new lease accounting software. The preliminary evaluation of the impact of ASU 2016-02 indicates that adoption is expected to impact the Company’s consolidated statements of condition, along with the Company’s regulatory capital ratios. However, the Company does not expect the new guidance to have a material impact on the Company’s consolidated statements of income. The Company is currently assessing the actual expected impact of the new lease accounting guidance on its consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, also referred to as “CECL”. ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. ASU 2016-13 becomes effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2019. The Company has established a CECL committee to oversee the development and implementation of ASU 2016-13. The Company is collaborating with a third party advisory team and has completed a gap assessment, a full implementation road-map and a detailed project plan. The Company has also engaged a software vendor to assist the Company to build a model that is compliant with ASU 2016-13 by the effective date. Based on the Company’s initial assessment of the ASU 2016-13, the Company expects the new guidance will result in additional required allowance for loan losses which could potentially have a material impact on its consolidated financial statements and regulatory capital ratios. Recent Accounting Pronouncements In January 2017, the FASB issued ASU 2017-04, “Intangibles: Goodwill and Other: Simplifying the Test for Goodwill Impairment.” ASU 2017-04 will amend and simplify current goodwill impairment testing to eliminate Step 2 from the current provisions. Under the new guidance, an entity should perform the goodwill impairment test by comparing the fair value of a reporting unit with its carrying value and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. An entity still has the option to perform the quantitative assessment for a reporting unit to determine if a quantitative impairment test is necessary. ASU 2017-04 should be adopted for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. The adoption of ASU 2017-04 is not expected to have a material impact on the Company’s consolidated financial statements. In March 2017, the FASB issued ASU 2017-08, “Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities”. ASU 2017-08 was issued to amend the amortization period for certain callable debt securities held at a premium. ASU 2017-08 shortens the amortization period of premiums on certain purchased callable debt securities to the earliest call date. ASU 2017-08 affect all entities that hold investments in callable debt securities that have an amortized cost basis in excess of the amount that is repayable by the issuer at the earliest call date (that is, at a premium). ASU 2017-08 does not impact securities purchased at a discount, which continue to be amortized to maturity. ASU 2017-08 is effective for annual period beginning after December 15, 2018, including interim periods within those annual periods. Early adoption is permitted in an interim period. If an entity chooses to adopt early, any adjustments should be reflected as of the beginning of the fiscal year that includes the interim period. The adoption of ASU 2017-08 is not expected to have a material impact on the Company’s consolidated financial statements. In June 2018, the FASB issued ASU 2018-07, “Compensation - Stock Compensation (Topic 718): Improvements to Nonemployees Share-Based Payment Accounting”. ASU 2018-07 expands the scope of Topic 718 (which currently only includes share-based payments to employees) to include share-based payments issued to nonemployees for goods or services. As ASU 2018-07 becomes effective, the accounting for share-based payments for nonemployees and employees will be substantially the same. The ASU supersedes Subtopic 505-50, “Equity – Equity-Based Payments to Non-Employees”. ASU 2018-07 is effective for annual period beginning after December 15, 2018, including interim periods within those annual periods. Early adoption is permitted, but no earlier than a company’s adoption date of Topic 606, Revenue from Contracts with Customers. The adoption of ASU 2018-07 is not expected to have a material impact on the Company’s consolidated financial statements as the Company has historically not issued share-based payments to nonemployees for goods and services. In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement”. ASU 2018-13 modifies the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. ASU 2018-13 removes the disclosure requirement detailing the amount of and reasons for transfers between Level 1 and Level 2 and the valuation processes for Level 3 fair value measurements will be removed. In addition, ASU 2018-13 modifies the disclosure requirement for investments in certain entities that calculate net asset value. Lastly, ASU 2018-13 adds a disclosure requirement for changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 measurements. ASU 2018-13 is effective annual periods in fiscal years beginning after December 15, 2019, including interim periods within those annual periods. Early adoption is permitted upon the issuance of ASU 2018-13. The removed and modified disclosures will be adopted on a retrospective basis, and the new disclosures will be adopted on a prospective basis. The adoption of ASU 2018-13 is not expected to have a material impact on the Company’s consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, “ Intangibles - Goodwill and Other - Internal Use Software (Subtopic 250-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force)”. ASU 2018-15 requires an entity in a cloud computing arrangement (i.e., hosting arrangement) that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets or expense as incurred. Capitalized implementation costs should be presented in the same line item on the balance sheet as amounts prepaid for the hosted service, if any (generally as an “other asset”). The capitalized costs will be amortized over the term of the hosting arrangement, with the amortization expense being presented in the same income statement line item as the fees paid for the hosted service. ASU 2018-15 is effective for annual reporting periods beginning after December 15, 2019, including interim periods within those annual periods. Early adoption is permitted, including adoption in any interim period. The adoption of ASU 2018-15 is not expected to have a material impact on the Company’s consolidated financial statements. |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
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 2016 Plan for the nine months ended September 30, 2018 : Number of Shares Weighted- Average Exercise Price Per Share Weighted- Average Remaining Contractual Life (Years) Aggregate Intrinsic Value (Dollars in thousands) Outstanding - January 1, 2018 1,075,423 $ 15.06 Granted — — Exercised (57,198 ) 7.88 Expired (5,546 ) 16.62 Forfeited (24,000 ) 17.18 Outstanding - September 30, 2018 988,679 $ 15.41 6.69 $ 1,335 Options exercisable - September 30, 2018 783,669 $ 15.01 6.41 $ 1,328 |
Summary of Restricted and Performance Unit Activity Under the Plan | The following is a summary of restricted stock and performance unit activity under the 2016 Plan for the nine months ended September 30, 2018 : Number of Shares Weighted- Average Grant Date Fair Value Outstanding - January 1, 2018 379,419 $ 16.42 Granted 273,725 16.27 Vested (149,287 ) 16.51 Forfeited (20,666 ) 16.04 Outstanding - September 30, 2018 483,191 $ 16.39 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Computation of basic and diluted EPS | The following tables show the computation of basic and diluted EPS for the three and nine months ended September 30, 2018 and 2017 . Three Months Ended September 30, 2018 2017 Net Income (Numerator) Weighted-Average Shares (Denominator) Earnings Per Share Net Income (Numerator) Weighted-Average Shares Earnings (Dollars in thousands, except share and per share data) Basic EPS - common stock $ 46,378 130,268,992 $ 0.36 $ 44,564 135,382,457 $ 0.33 Effect of dilutive securities: Stock options, restricted stock, and ESPP shares 256,482 248,455 Diluted EPS - common stock $ 46,378 130,525,474 $ 0.36 $ 44,564 135,630,912 $ 0.33 Nine Months Ended September 30, 2018 2017 Net Income (Numerator) Weighted-Average Shares Earnings Net Income (Numerator) Weighted-Average Shares Earnings (In thousands, except share and per share data) Basic EPS - common stock $ 145,140 132,930,437 $ 1.09 $ 121,461 135,296,332 $ 0.90 Effect of dilutive securities: Stock options, restricted stock, and ESPP shares 283,632 365,633 Diluted EPS - common stock $ 145,140 133,214,069 $ 1.09 $ 121,461 135,661,965 $ 0.90 |
Equity Investment Securities (T
Equity Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule Of Change In Fair Value For Equity Investment Securities | In accordance with ASU 2016-01, the change in fair value for equity investments with readily determinable fair value for the three and nine months ended September 30, 2018 were recorded as other noninterest income as summarized in the table below: Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 (Dollars in thousands) Net change in fair value recorded during the period on equity investment securities $ (1,617 ) $ 1,901 Net change in fair value recorded on equity investment securities sold during the period — — Net change in fair value on equity investment securities at end of period $ (1,617 ) $ 1,901 |
Securities Available for Sale (
Securities Available for Sale (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Available-for-sale Securities [Abstract] | |
Summary of Securities Available for Sale | The following is a summary of securities available for sale at the dates indicated: At September 30, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (Dollars in thousands) Debt securities: U.S. Government agency and U.S. Government sponsored enterprises: Collateralized mortgage obligations $ 948,536 $ 10 $ (36,665 ) $ 911,881 Mortgage-backed securities: Residential 431,790 9 (19,091 ) 412,708 Commercial 467,761 — (19,435 ) 448,326 Corporate securities 5,000 — (651 ) 4,349 Municipal securities 79,330 174 (2,518 ) 76,986 Total investment securities available for sale $ 1,932,417 $ 193 $ (78,360 ) $ 1,854,250 At December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (Dollars in thousands) Debt securities: U.S. Government agency and U.S. Government sponsored enterprises: Collateralized mortgage obligations $ 856,193 $ 58 $ (17,542 ) $ 838,709 Mortgage-backed securities: Residential 477,676 521 (6,983 ) 471,214 Commercial 308,046 — (6,681 ) 301,365 Corporate securities 4,997 — (522 ) 4,475 Municipal securities 82,542 870 (875 ) 82,537 Total debt securities 1,729,454 1,449 (32,603 ) 1,698,300 Mutual funds 22,425 17 (485 ) 21,957 Total investment securities available for sale $ 1,751,879 $ 1,466 $ (33,088 ) $ 1,720,257 |
Investments Classified by Contractual Maturity Date | The amortized cost and estimated fair value of investment securities at September 30, 2018 , by contractual maturity, is presented in the table 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. Collateralized mortgage obligations and mortgage-backed securities are not due at a single maturity date and their total balances are shown separately. Amortized Cost Estimated Fair Value (Dollars in thousands) Available for sale: Due within one year $ 751 $ 766 Due after one year through five years 17,393 17,374 Due after five years through ten years 28,861 28,379 Due after ten years 37,325 34,816 U.S. Government agency and U.S. Government sponsored enterprises: Collateralized mortgage obligations 948,536 911,881 Mortgage-backed securities: Residential 431,790 412,708 Commercial 467,761 448,326 Total $ 1,932,417 $ 1,854,250 |
Schedule of Unrealized Loss on Investments | The following tables show the Company’s investments’ gross unrealized losses and estimated fair values, 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 September 30, 2018 Less than 12 months 12 months or longer Total Description of Securities Number Fair Value Gross Unrealized Losses Number Fair Value Gross Unrealized Losses Number of Fair Value Gross Unrealized Losses (Dollars in thousands) Collateralized mortgage obligations* 20 $ 209,673 $ (1,418 ) 86 $ 700,789 $ (35,247 ) 106 $ 910,462 $ (36,665 ) Mortgage-backed securities: Residential* 11 63,627 (1,280 ) 41 347,316 (17,811 ) 52 410,943 (19,091 ) Commercial* 18 195,427 (4,712 ) 20 242,896 (14,723 ) 38 438,323 (19,435 ) Corporate securities — — — 1 4,349 (651 ) 1 4,349 (651 ) Municipal securities 71 42,623 (753 ) 5 20,713 (1,765 ) 76 63,336 (2,518 ) Total 120 $ 511,350 $ (8,163 ) 153 $ 1,316,063 $ (70,197 ) 273 $ 1,827,413 $ (78,360 ) __________________________________ * Investments in U.S. Government agency and U.S. Government sponsored enterprises As of December 31, 2017 Less than 12 months 12 months or longer Total Description of Securities Number of Securities Fair Value Gross Unrealized Losses Number Fair Value Gross Unrealized Losses Number Fair Value Gross Unrealized Losses (Dollars in thousands) Collateralized mortgage obligations* 38 $ 425,198 $ (5,954 ) 53 $ 408,526 $ (11,588 ) 91 $ 833,724 $ (17,542 ) Mortgage-backed securities: Residential* 20 195,086 (1,282 ) 23 230,616 (5,701 ) 43 425,702 (6,983 ) Commercial* 16 186,357 (1,614 ) 8 115,008 (5,067 ) 24 301,365 (6,681 ) Corporate securities 1 4,475 (522 ) — — — 1 4,475 (522 ) Municipal securities 18 9,295 (69 ) 3 22,144 (806 ) 21 31,439 (875 ) Mutual funds 1 8,899 (101 ) 3 11,579 (384 ) 4 20,478 (485 ) Total 94 $ 829,310 $ (9,542 ) 90 $ 787,873 $ (23,546 ) 184 $ 1,617,183 $ (33,088 ) __________________________________ * Investments in U.S. Government agency and U.S. Government sponsored enterprises |
Loans Receivable and Allowanc_2
Loans Receivable and Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Summary of Loans Receivable by Major Category | The following is a summary of loans receivable by major category: September 30, 2018 December 31, 2017 Loan portfolio composition (Dollars in thousands) Real estate loans: Residential $ 49,602 $ 49,774 Commercial 8,307,213 8,142,036 Construction 283,042 316,412 Total real estate loans 8,639,857 8,508,222 Commercial business 2,126,608 1,780,869 Trade finance 191,605 166,664 Consumer and other 969,835 647,102 Total loans outstanding 11,927,905 11,102,857 Deferred loan fees, net (723 ) (282 ) Loans receivable 11,927,182 11,102,575 Allowance for loan losses (90,629 ) (84,541 ) Loans receivable, net of allowance for loan losses $ 11,836,553 $ 11,018,034 |
Loans and Leases Acquired, Accretable Yield Movement Schedule | The following table presents changes in the accretable discount on PCI loans for the three and nine months ended September 30, 2018 and 2017 : Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Balance at beginning of period $ 53,573 $ 53,657 $ 55,002 $ 43,611 Accretion (5,239 ) (5,815 ) (16,970 ) (16,375 ) Reclassification from nonaccretable difference 7,889 6,696 18,191 27,302 Balance at end of period $ 56,223 $ 54,538 $ 56,223 $ 54,538 |
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 nine months ended September 30, 2018 and 2017 : Legacy Loans Acquired Loans Total Real Estate Commercial Business Trade Finance Consumer and Other Real Commercial Business Trade Finance Consumer and Other (Dollars in thousands) Three Months Ended September 30, 2018 Balance, beginning of period $ 48,235 $ 22,031 $ 983 $ 4,799 $ 12,816 $ 991 $ 3 $ 23 $ 89,881 Provision (credit) for loan losses 5,537 (856 ) (159 ) 1,036 1,744 28 (3 ) (27 ) 7,300 Loans charged off (5,854 ) (292 ) — (343 ) (191 ) (174 ) — (13 ) (6,867 ) Recoveries of charge offs 41 188 17 1 — 32 — 36 315 Balance, end of period $ 47,959 $ 21,071 $ 841 $ 5,493 $ 14,369 $ 877 $ — $ 19 $ 90,629 Nine Months Ended September 30, 2018 Balance, beginning of period $ 45,360 $ 17,228 $ 1,674 $ 3,385 $ 13,322 $ 3,527 $ 42 $ 3 $ 84,541 Provision (credit) for loan losses 7,792 2,920 (874 ) 2,999 1,430 (2,114 ) (42 ) (11 ) 12,100 Loans charged off (6,061 ) (1,080 ) — (919 ) (385 ) (740 ) — (13 ) (9,198 ) Recoveries of charge offs 868 2,003 41 28 2 204 — 40 3,186 Balance, end of period $ 47,959 $ 21,071 $ 841 $ 5,493 $ 14,369 $ 877 $ — $ 19 $ 90,629 Legacy Loans Acquired Loans Total Real Commercial Business Trade Finance Consumer and Other Real Commercial Business Trade Finance Consumer and Other (Dollars in thousands) Three Months Ended September 30, 2017 Balance, beginning of period $ 40,478 $ 21,495 $ 1,000 $ 2,282 $ 13,411 $ 1,291 $ 106 $ 11 $ 80,074 Provision (credit) for loan losses 3,664 1,499 418 664 (1,312 ) 395 56 16 5,400 Loans charged off (175 ) (3,870 ) — (218 ) (162 ) (471 ) — (17 ) (4,913 ) Recoveries of charge offs 23 3,020 2 — — 25 — 2 3,072 Balance, end of period $ 43,990 $ 22,144 $ 1,420 $ 2,728 $ 11,937 $ 1,240 $ 162 $ 12 $ 83,633 Nine Months Ended September 30, 2017 Balance, beginning of period $ 38,956 $ 23,430 $ 1,897 $ 2,116 $ 12,791 $ 117 $ — $ 36 $ 79,343 Provision (credit) for loan losses 7,174 2,356 1,621 1,348 (406 ) 1,517 162 (12 ) 13,760 Loans charged off (2,221 ) (7,485 ) (2,104 ) (738 ) (479 ) (596 ) — (17 ) (13,640 ) Recoveries of charge offs 81 3,843 6 2 31 202 — 5 4,170 Balance, end of period $ 43,990 $ 22,144 $ 1,420 $ 2,728 $ 11,937 $ 1,240 $ 162 $ 12 $ 83,633 The following tables break out the allowance for loan losses and the recorded investment of loans outstanding (not including accrued interest receivable and net deferred loan costs or fees) by individually impaired, general valuation, and PCI impairment, by portfolio segment at September 30, 2018 and December 31, 2017 : September 30, 2018 Legacy Loans Acquired Loans Total Real Commercial Business Trade Finance Consumer and Other Real Commercial Business Trade Finance Consumer and Other (Dollars in thousands) Allowance for loan losses: Individually evaluated for impairment $ 373 $ 2,920 $ 1 $ 4 $ 295 $ 425 $ — $ 1 $ 4,019 Collectively evaluated for impairment 47,586 18,151 840 5,489 1,220 452 — 18 73,756 PCI loans — — — — 12,854 — — — 12,854 Total $ 47,959 $ 21,071 $ 841 $ 5,493 $ 14,369 $ 877 $ — $ 19 $ 90,629 Loans outstanding: Individually evaluated for impairment $ 42,879 $ 32,009 $ 5,940 $ 831 $ 17,039 $ 6,001 $ 3,232 $ 1,251 $ 109,182 Collectively evaluated for impairment 6,766,006 1,974,442 182,433 823,112 1,682,321 89,390 — 137,841 11,655,545 PCI loans — — — — 131,612 24,766 — 6,800 163,178 Total $ 6,808,885 $ 2,006,451 $ 188,373 $ 823,943 $ 1,830,972 $ 120,157 $ 3,232 $ 145,892 $ 11,927,905 December 31, 2017 Legacy Loans Acquired Loans Total Real Commercial Business Trade Finance Consumer and Other Real Commercial Business Trade Finance Consumer and Other (Dollars in thousands) Allowance for loan losses: Individually evaluated for impairment $ 1,378 $ 2,807 $ 3 $ 35 $ 246 $ 854 $ — $ — $ 5,323 Collectively evaluated for impairment 43,982 14,421 1,671 3,350 1,036 2,673 42 3 67,178 PCI loans — — — — 12,040 — — — 12,040 Total $ 45,360 $ 17,228 $ 1,674 $ 3,385 $ 13,322 $ 3,527 $ 42 $ 3 $ 84,541 Loans outstanding: Individually evaluated for impairment $ 41,041 $ 31,322 $ 3,951 $ 908 $ 14,239 $ 18,733 $ 2,984 $ 1,171 $ 114,349 Collectively evaluated for impairment 6,172,448 1,459,273 152,204 477,375 2,120,001 244,980 7,525 157,794 10,791,600 PCI loans — — — — 160,493 26,561 — 9,854 196,908 Total $ 6,213,489 $ 1,490,595 $ 156,155 $ 478,283 $ 2,294,733 $ 290,274 $ 10,509 $ 168,819 $ 11,102,857 |
Impaired Financing Receivables | The following tables detail the recorded investment of impaired loans (Legacy Loans and Acquired Loans that became impaired subsequent to being originated and acquired, respectfully) as of September 30, 2018 and December 31, 2017 , and the average recorded investment and interest income recognized for the three and nine months ended September 30, 2018 and 2017 . Impaired loans with no related allowance are believed by management to be adequately collateralized. As of September 30, 2018 As of December 31, 2017 Total Impaired Loans Recorded Investment* Unpaid Contractual Principal Balance Related Allowance Recorded Investment* Unpaid Contractual Principal Balance Related Allowance (Dollars in thousands) With related allowance: Real estate—residential $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 1,690 1,796 231 532 531 131 Hotel & motel 3,036 3,387 286 2,931 5,090 284 Gas station & car wash — — — — — — Mixed use 2,996 3,058 32 312 958 4 Industrial & warehouse 588 1,423 98 772 1,482 96 Other 4,725 5,128 21 4,397 4,401 1,109 Real estate—construction — — — — — — Commercial business 20,220 22,967 3,345 18,330 22,757 3,661 Trade finance 562 562 1 3,861 3,861 3 Consumer and other 958 6 5 523 524 35 Subtotal $ 34,775 $ 38,327 $ 4,019 $ 31,658 $ 39,604 $ 5,323 With no related allowance: Real estate—residential $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 7,935 11,026 — 11,792 13,923 — Hotel & motel 9,279 18,107 — 2,841 5,288 — Gas station & car wash 380 3,668 — 591 1,764 — Mixed use 3,924 4,199 — 1,101 3,490 — Industrial & warehouse 13,254 14,277 — 8,429 8,525 — Other 12,111 13,261 — 20,282 24,412 — Real estate—construction — — — 1,300 1,441 — Commercial business 17,790 22,065 — 31,725 33,207 — Trade finance 8,610 8,610 — 3,074 3,091 — Consumer and other 1,124 168 — 1,556 1,676 — Subtotal $ 74,407 $ 95,381 $ — $ 82,691 $ 96,817 $ — Total $ 109,182 $ 133,708 $ 4,019 $ 114,349 $ 136,421 $ 5,323 __________________________________ * Unpaid contractual principal balance less charge offs, interest collected applied to principal if on nonaccrual and purchase discounts. For the Three Months Ended September 30, For the Nine Months Ended September 30, 2018 2017 2018 2017 Total Impaired Loans Average Recorded Investment* Interest Income Recognized During Impairment Average Recorded Investment* Interest Income Recognized During Impairment Average Recorded Investment* Interest Income Recognized During Impairment Average Recorded Investment* Interest Income Recognized During Impairment (Dollars in thousands) With related allowance: Real estate—residential $ 125 $ — $ — $ — $ 63 $ — $ — $ — Real estate—commercial Retail 4,740 8 1,197 4 4,099 22 1,268 11 Hotel & motel 2,897 — 2,269 17 2,888 — 4,330 49 Gas station & car wash — — — — — — 54 — Mixed use 3,004 40 228 2 2,320 115 228 5 Industrial & warehouse 1,721 6 746 — 1,648 22 1,226 — Other 4,322 33 4,572 60 5,608 133 13,534 175 Real estate—construction — — — — — — — — Commercial business 22,159 138 27,031 261 23,381 408 25,036 749 Trade finance 2,128 2 4,118 58 2,678 4 2,587 215 Consumer and other 981 6 251 1 744 12 169 3 Subtotal $ 42,077 $ 233 $ 40,412 $ 403 $ 43,429 $ 716 $ 48,432 $ 1,207 With no related allowance: Real estate—residential $ — $ — $ 249 $ 20 $ — $ — $ 1,381 $ 57 Real estate—commercial Retail 7,901 36 10,071 91 10,390 107 12,412 263 Hotel & motel 6,834 — 10,494 59 4,887 — 8,346 175 Gas station & car wash 358 — 3,022 114 514 — 3,812 317 Mixed use 3,886 49 1,274 109 2,494 149 4,095 324 Industrial & warehouse 12,209 86 8,390 68 11,364 249 8,738 191 Other 12,559 80 14,733 6 14,892 230 16,324 19 Real estate—construction — — 1,300 — 650 — 1,689 — Commercial business 20,320 129 11,544 — 19,262 360 10,417 — Trade finance 5,785 120 1,765 — 4,503 354 2,975 — Consumer and other 1,541 — 1,305 — 1,569 — 1,147 — Subtotal $ 71,393 $ 500 $ 64,147 $ 467 $ 70,525 $ 1,449 $ 71,336 $ 1,346 Total $ 113,470 $ 733 $ 104,559 $ 870 $ 113,954 $ 2,165 $ 119,768 $ 2,553 __________________________________ * Unpaid contractual principal balance less charge offs, interest collected applied to principal if on nonaccrual and purchase discounts. As of September 30, 2018 As of December 31, 2017 Impaired Acquired Loans Recorded Investment* Unpaid Contractual Principal Balance Related Allowance Recorded Investment* Unpaid Contractual Principal Balance Related Allowance (Dollars in thousands) With related allowance: Real estate—residential $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 492 512 166 262 261 126 Hotel & motel 72 345 5 85 86 2 Gas station & car wash — — — — — — Mixed use 2,828 2,828 31 129 129 1 Industrial & warehouse 247 1,070 91 221 896 96 Other 262 262 2 319 323 21 Real estate—construction — — — — — — Commercial business 4,360 6,263 425 1,987 2,903 854 Trade finance — — — — — — Consumer and other 148 — 1 — — — Subtotal $ 8,409 $ 11,280 $ 721 $ 3,003 $ 4,598 $ 1,100 With no related allowance: Real estate—residential $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 3,097 3,883 — 3,412 4,099 — Hotel & motel 5,459 6,891 — 482 1,887 — Gas station & car wash 248 2,673 — 1 28 — Mixed use — — — 152 2,240 — Industrial & warehouse 119 894 — 45 45 — Other 4,215 4,780 — 9,131 9,951 — Real estate—construction — — — — — — Commercial business 1,641 1,812 — 16,746 16,926 — Trade finance 3,232 3,232 — 2,984 3,001 — Consumer and other 1,103 146 — 1,171 1,291 — Subtotal $ 19,114 $ 24,311 $ — $ 34,124 $ 39,468 $ — Total $ 27,523 $ 35,591 $ 721 $ 37,127 $ 44,066 $ 1,100 __________________________________ * Unpaid contractual principal balance less charge offs, interest collected applied to principal if on nonaccrual and purchase discounts. For the Three Months Ended September 30, For the Nine Months Ended September 30, 2018 2017 2018 2017 Impaired Acquired Loans Average Recorded Investment* Interest Income Recognized During Impairment Average Recorded Investment* Interest Income Recognized During Impairment Average Recorded Investment* Interest Income Recognized During Impairment Average Recorded Investment* Interest Income Recognized During Impairment (Dollars in thousands) With related allowance: Real estate—residential $ 125 $ — $ — $ — $ 63 $ — $ — $ — Real estate—commercial Retail 793 — 927 4 588 — 998 11 Hotel & motel 73 — 174 — 79 — 110 — Gas station & car wash — — — — — — — — Mixed use 2,833 40 190 2 2,189 115 191 5 Industrial & warehouse 258 — 452 — 250 1 226 — Other 788 3 303 4 1,802 10 319 11 Real estate—construction — — — — — — — — Commercial business 4,506 41 1,250 9 5,709 121 892 24 Trade finance — — — — — — — — Consumer and other 150 2 — — 75 4 — — Subtotal $ 9,526 $ 86 $ 3,296 $ 19 $ 10,755 $ 251 $ 2,736 $ 51 With no related allowance: Real estate—residential $ — $ — $ 249 $ 20 $ — $ — $ 294 $ 57 Real estate—commercial Retail 3,008 31 1,709 15 3,181 92 2,729 45 Hotel & motel 3,516 — 2,671 — 2,000 — 3,737 — Gas station & car wash 218 — 454 — 159 — 774 — Mixed use 36 — 104 — 56 — 2,701 — Industrial & warehouse 119 — 60 1 287 — 63 2 Other 4,364 63 3,806 46 5,574 181 4,205 116 Real estate—construction — — — — — — — — Commercial business 6,894 27 1,835 47 5,405 65 1,014 142 Trade finance 3,097 48 1,692 68 3,136 138 846 191 Consumer and other 1,531 — 684 2 1,373 — 518 6 Subtotal $ 22,783 $ 169 $ 13,264 $ 199 $ 21,171 $ 476 $ 16,881 $ 559 Total $ 32,309 $ 255 $ 16,560 $ 218 $ 31,926 $ 727 $ 19,617 $ 610 __________________________________ * Unpaid contractual principal balance less charge offs, interest collected applied to principal if on nonaccrual and purchase discounts. The recorded investment of individually impaired loans and the total impaired loans net of specific allowance is presented in the following table for the dates indicated: September 30, 2018 December 31, 2017 (Dollars in thousands) With allocated specific allowance Without charge off $ 33,421 $ 28,614 With charge off 1,354 3,044 With no allocated specific allowance Without charge off 65,072 77,533 With charge off 9,335 5,158 Specific allowance on impaired loans (4,019 ) (5,323 ) Impaired loans, net of specific allowance $ 105,163 $ 109,026 |
Aging of Past Due Loans | The following tables present the recorded investment of past due loans, including nonaccrual loans past due 30 or more days, by the number of days past due as of September 30, 2018 and December 31, 2017 by class of loans: As of September 30, 2018 As of December 31, 2017 30-59 Days Past Due 60-89 Days Past Due 90 or More Days Past Due Total Past Due 30-59 Days 60-89 Days 90 or More Days Past Due Total (Dollars in thousands) Legacy Loans: Real estate—residential $ — $ — $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 1,374 — 813 2,187 3,239 — 285 3,524 Hotel & motel 4,605 1,852 3,573 10,030 1,884 1,172 2,635 5,691 Gas station & car wash — — 33 33 956 — 435 1,391 Mixed use — — 574 574 129 — 952 1,081 Industrial & warehouse 53 1,055 1,922 3,030 1,121 99 2,473 3,693 Other 1,365 2,561 2,269 6,195 1,409 — 5,425 6,834 Real estate—construction 5,125 — — 5,125 — — 1,300 1,300 Commercial business 843 404 5,956 7,203 698 516 2,508 3,722 Trade finance — — 429 429 — — — — Consumer and other 15,315 118 407 15,840 7,512 97 494 8,103 Subtotal $ 28,680 $ 5,990 $ 15,976 $ 50,646 $ 16,948 $ 1,884 $ 16,507 $ 35,339 Acquired Loans: (1) Real estate—residential $ — $ — $ — $ — $ — $ — $ — $ — Real estate—commercial Retail 1,530 — 679 2,209 81 216 386 683 Hotel & motel — — 3,919 3,919 — 1,219 — 1,219 Gas station & car wash — — 221 221 1,161 41 1 1,203 Mixed use — — — — 151 — 152 303 Industrial & warehouse 143 — 119 262 804 264 221 1,289 Other 3,151 143 — 3,294 275 — — 275 Real estate—construction — — — — — — — — Commercial business 722 48 547 1,317 1,088 256 885 2,229 Trade finance — — — — — — — — Consumer and other — — 432 432 957 270 181 1,408 Subtotal $ 5,546 $ 191 $ 5,917 $ 11,654 $ 4,517 $ 2,266 $ 1,826 $ 8,609 Total Past Due $ 34,226 $ 6,181 $ 21,893 $ 62,300 $ 21,465 $ 4,150 $ 18,333 $ 43,948 __________________________________ (1) Acquired Loans exclude PCI loans. The following table represent the recorded investment of nonaccrual loans and loans past due 90 or more days and still on accrual status by class of loans as of September 30, 2018 and December 31, 2017 . Nonaccrual Loans (1) Accruing Loans Past Due 90 or More Days September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 (Dollars in thousands) Legacy Loans: Real estate—residential $ — $ — $ — $ — Real estate—commercial Retail 5,284 3,179 — — Hotel & motel 6,783 3,931 — — Gas station & car wash 132 590 — — Mixed use 926 1,132 — — Industrial & warehouse 6,266 3,403 — — Other 8,895 5,689 — — Real estate—construction — 1,300 — — Commercial business 16,953 8,540 — — Trade finance 429 — — — Consumer and other 463 471 401 407 Subtotal $ 46,131 $ 28,235 $ 401 $ 407 Acquired Loans: (2) Real estate—residential $ — $ — $ — $ — Real estate—commercial Retail 916 638 — — Hotel & motel 5,532 568 — — Gas station & car wash 248 1 — — Mixed use — 152 — — Industrial & warehouse 356 221 — — Other 276 1,389 — — Real estate—construction — — — — Commercial business 1,737 14,560 — — Trade finance — — — — Consumer and other 1,103 1,011 — — Subtotal $ 10,168 $ 18,540 $ — $ — Total $ 56,299 $ 46,775 $ 401 $ 407 __________________________________ (1) Total nonaccrual loans exclude guaranteed portion of delinquent SBA loans that are in liquidation totaling $23.1 million and $22.1 million , at September 30, 2018 and December 31, 2017 , respectively. (2) Acquired Loans exclude PCI loans. |
Risk Category of Loans by Class of Loans | The following tables present the recorded investment of risk ratings for Legacy and Acquired Loans as of September 30, 2018 and December 31, 2017 by class of loans: As of September 30, 2018 Pass/ Not Rated Special Mention Substandard Doubtful Total (Dollars in thousands) Legacy Loans: Real estate—residential $ 34,949 $ — $ 918 $ — $ 35,867 Real estate—commercial Retail 1,796,421 10,988 20,986 — 1,828,395 Hotel & motel 1,319,042 23,480 14,426 1 1,356,949 Gas station & car wash 791,023 461 534 — 792,018 Mixed use 498,944 15,499 10,281 — 524,724 Industrial & warehouse 649,074 10,137 32,257 — 691,468 Other 1,288,683 54,357 24,861 — 1,367,901 Real estate—construction 194,187 10,600 6,776 — 211,563 Commercial business 1,903,115 47,199 56,137 — 2,006,451 Trade finance 179,459 4,725 3,760 429 188,373 Consumer and other 822,997 115 831 — 823,943 Subtotal $ 9,477,894 $ 177,561 $ 171,767 $ 430 $ 9,827,652 Acquired Loans: Real estate—residential $ 13,258 $ 396 $ 81 $ — $ 13,735 Real estate—commercial Retail 527,433 5,623 17,813 — 550,869 Hotel & motel 200,884 305 18,939 — 220,128 Gas station & car wash 157,845 275 8,091 — 166,211 Mixed use 80,845 4,847 9,417 — 95,109 Industrial & warehouse 197,537 4,907 20,706 233 223,383 Other 450,400 13,077 26,581 — 490,058 Real estate—construction 64,316 7,163 — — 71,479 Commercial business 98,002 1,392 20,698 65 120,157 Trade finance — — 3,232 — 3,232 Consumer and other 141,187 40 4,519 146 145,892 Subtotal $ 1,931,707 $ 38,025 $ 130,077 $ 444 $ 2,100,253 Total $ 11,409,601 $ 215,586 $ 301,844 $ 874 $ 11,927,905 As of December 31, 2017 Pass/ Special Mention Substandard Doubtful Total (Dollars in thousands) Legacy Loans: Real estate—residential $ 33,557 $ 1,147 $ 1,439 $ — $ 36,143 Real estate—commercial Retail 1,640,809 32,723 17,856 — 1,691,388 Hotel & motel 1,224,597 19,358 8,877 — 1,252,832 Gas station & car wash 737,485 9,013 590 — 747,088 Mixed use 421,755 4,581 1,477 — 427,813 Industrial & warehouse 577,344 16,716 24,317 — 618,377 Other 1,133,188 30,030 53,995 — 1,217,213 Real estate—construction 219,583 — 3,052 — 222,635 Commercial business 1,389,043 35,640 65,912 — 1,490,595 Trade finance 152,583 2,200 1,372 — 156,155 Consumer and other 477,370 5 908 — 478,283 Subtotal $ 8,007,314 $ 151,413 $ 179,795 $ — $ 8,338,522 Acquired Loans: Real estate—residential $ 13,369 $ 262 $ — $ — $ 13,631 Real estate—commercial Retail 630,555 6,921 20,797 — 658,273 Hotel & motel 275,191 4,247 24,987 — 304,425 Gas station & car wash 194,063 2,872 8,992 — 205,927 Mixed use 94,864 5,725 14,738 — 115,327 Industrial & warehouse 250,049 14,973 16,358 265 281,645 Other 568,545 19,848 33,335 — 621,728 Real estate—construction 93,777 — — — 93,777 Commercial business 236,705 8,593 44,964 12 290,274 Trade finance 7,455 — 3,054 — 10,509 Consumer and other 162,495 37 6,202 85 168,819 Subtotal $ 2,527,068 $ 63,478 $ 173,427 $ 362 $ 2,764,335 Total $ 10,534,382 $ 214,891 $ 353,222 $ 362 $ 11,102,857 |
Loans Sold From Loans Held For Investment | The breakdown of loans by type that were reclassified from held for investment to held for sale for the three and nine months ended September 30, 2018 and 2017 is presented in the following table: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Transfer of loans held for investment to held for sale (Dollars in thousands) Real estate - commercial $ — $ — $ — $ 429 Consumer 525 — 6,680 — Total $ 525 $ — $ 6,680 $ 429 |
Allowance for Loan Losses and Impaired Loans, Qualitative and Quantitative Analysis | The following table presents breakdown of loans by impairment method at September 30, 2018 and December 31, 2017 : As of September 30, 2018 Real Estate - Residential Real Estate - Commercial Real Estate - Construction Commercial Business Trade Finance Consumer and Other Total (Dollars in thousands) Impaired loans (recorded investment) $ — $ 59,918 $ — $ 38,010 $ 9,172 $ 2,082 $ 109,182 Specific allowance $ — $ 668 $ — $ 3,345 $ 1 $ 5 $ 4,019 Specific allowance to impaired loans N/A 1.11 % N/A 8.80 % 0.01 % 0.24 % 3.68 % Other loans $ 49,602 $ 8,247,295 $ 283,042 $ 2,088,598 $ 182,433 $ 967,753 $ 11,818,723 General allowance $ 55 $ 60,990 $ 615 $ 18,603 $ 840 $ 5,507 $ 86,610 General allowance to other loans 0.11 % 0.74 % 0.22 % 0.89 % 0.46 % 0.57 % 0.73 % Total loans $ 49,602 $ 8,307,213 $ 283,042 $ 2,126,608 $ 191,605 $ 969,835 $ 11,927,905 Total allowance for loan losses $ 55 $ 61,658 $ 615 $ 21,948 $ 841 $ 5,512 $ 90,629 Total allowance to total loans 0.11 % 0.74 % 0.22 % 1.03 % 0.44 % 0.57 % 0.76 % As of December 31, 2017 Real Estate - Residential Real Estate - Commercial Real Estate - Construction Commercial Business Trade Finance Consumer and Other Total (Dollars in thousands) Impaired loans (recorded investment) $ — $ 53,980 $ 1,300 $ 50,055 $ 6,935 $ 2,079 $ 114,349 Specific allowance $ — $ 1,624 $ — $ 3,661 $ 3 $ 35 $ 5,323 Specific allowance to impaired loans N/A 3.01 % N/A 7.31 % 0.04 % 1.68 % 4.66 % Other loans $ 49,774 $ 8,088,056 $ 315,112 $ 1,730,814 $ 159,729 $ 645,023 $ 10,988,508 General allowance $ 88 $ 56,040 $ 930 $ 17,094 $ 1,713 $ 3,353 $ 79,218 General allowance to other loans 0.18 % 0.69 % 0.30 % 0.99 % 1.07 % 0.52 % 0.72 % Total loans $ 49,774 $ 8,142,036 $ 316,412 $ 1,780,869 $ 166,664 $ 647,102 $ 11,102,857 Total allowance for loan losses $ 88 $ 57,664 $ 930 $ 20,755 $ 1,716 $ 3,388 $ 84,541 Total allowance to total loans 0.18 % 0.71 % 0.29 % 1.17 % 1.03 % 0.52 % 0.76 % |
Troubled Debt Restructurings | A summary of the recorded investment of TDR loans on accrual and nonaccrual status by type of concession as of September 30, 2018 and December 31, 2017 is presented below: As of September 30, 2018 TDR Loans on Accrual Status TDR Loans on Nonaccrual Status Total TDRs Real Estate Commercial Business Other Total Real Estate Commercial Business Other Total (Dollars in thousands) Payment concession $ 8,067 $ 990 $ — $ 9,057 $ 5,662 $ 817 $ — $ 6,479 $ 15,536 Maturity / amortization concession 11,004 17,527 9,126 37,657 — 13,532 185 13,717 51,374 Rate concession 4,919 755 133 5,807 989 — — 989 6,796 Total $ 23,990 $ 19,272 $ 9,259 $ 52,521 $ 6,651 $ 14,349 $ 185 $ 21,185 $ 73,706 As of December 31, 2017 TDR Loans on Accrual Status TDR Loans on Nonaccrual Status Total TDRs Real Estate Commercial Business Other Total Real Estate Commercial Business Other Total (Dollars in thousands) Payment concession $ 22,550 $ 376 $ — $ 22,926 $ 3,071 $ 170 $ — $ 3,241 $ 26,167 Maturity / amortization concession 4,768 25,584 7,442 37,794 1,536 5,264 98 6,898 44,692 Rate concession 5,444 996 90 6,530 1,083 18 — 1,101 7,631 Total $ 32,762 $ 26,956 $ 7,532 $ 67,250 $ 5,690 $ 5,452 $ 98 $ 11,240 $ 78,490 The following tables present the recorded investment of loans classified as TDR during the three and nine months ended September 30, 2018 and 2017 by class of loans: Three Months Ended September 30, 2018 Three Months Ended September 30, 2017 Number of Loans Pre- Modification Post- Modification Number of Loans Pre- Modification Post- Modification (Dollars in thousands) Legacy Loans: Real estate—residential — $ — $ — — $ — $ — Real estate—commercial Retail — — — 1 464 452 Hotel & motel — — — — — — Gas station & car wash — — — — — — Mixed use — — — — — — Industrial & warehouse — — — — — — Other — — — — — — Real estate—construction — — — — — — Commercial business 5 4,497 4,497 7 5,409 4,753 Trade finance 1 898 898 — — — Consumer and other — — — — — — Subtotal 6 $ 5,395 $ 5,395 8 $ 5,873 $ 5,205 Acquired Loans: Real estate—residential — $ — $ — 1 $ 614 $ 498 Real estate—commercial Retail — — — — — — Hotel & motel 1 73 73 — — — Gas station & car wash — — — — — — Mixed use — — — — — — Industrial & warehouse 1 237 237 — — — Other — — — 1 851 2,265 Real estate—construction — — — — — — Commercial business 3 383 383 5 4,478 3,535 Trade finance — — — 1 2,938 3,384 Consumer and other — — — — — — Subtotal 5 $ 693 $ 693 8 $ 8,881 $ 9,682 Total 11 $ 6,088 $ 6,088 16 $ 14,754 $ 14,887 Nine Months Ended September 30, 2018 Nine Months Ended September 30, 2017 Number of Pre- Post- Number of Loans Pre- Modification Post- Modification (Dollars in thousands) Legacy Loans: Real estate—residential — $ — $ — — $ — $ — Real estate—commercial Retail 2 54 54 2 1,123 1,091 Hotel & motel — — — — — — Gas station & car wash — — — — — — Mixed use — — — — — — Industrial & warehouse 1 2,078 2,078 — — — Other 1 1,226 1,226 — — — Real estate - construction — — — — — — Commercial business 17 10,727 10,727 12 12,282 11,027 Trade finance 1 898 898 — — — Consumer and other 1 67 67 — — — Subtotal 23 $ 15,050 $ 15,050 14 $ 13,405 $ 12,118 Acquired Loans: Real estate—residential — $ — $ — 1 $ 614 $ 498 Real estate—commercial Retail — — — 2 221 218 Hotel & motel 1 73 73 — — — Gas station & car wash — — — — — — Mixed use 1 2,704 2,704 — — — Industrial & warehouse 1 237 237 — — — Other — — — 1 851 2,265 Real estate—construction — — — — — — Commercial business 5 1,647 1,647 6 4,678 3,688 Trade finance — — — 1 2,938 3,384 Consumer and other — — — — — — Subtotal 8 $ 4,661 $ 4,661 11 $ 9,302 $ 10,053 Total 31 $ 19,711 $ 19,711 25 $ 22,707 $ 22,171 |
Summary of Troubled Debt Restructurings with Subsequent Payment Default | The following table presents loans modified as TDRs within the previous twelve months ended September 30, 2018 and September 30, 2017 that subsequently had payment defaults during the three and nine months ended September 30, 2018 and September 30, 2017 : Three Months Ended September 30, 2018 Three Months Ended September 30, 2017 Number of Loans Balance Number of Loans Balance (Dollars in thousands) Legacy Loans: Real estate—commercial Retail — $ — — $ — Hotel & motel 1 1,019 — — Gas station & car wash — — — — Mixed Use — — — — Industrial & warehouse — — — — Other 1 1,226 — — Real estate—construction — — — — Commercial business — — 2 827 Trade finance — — — — Consumer and other — — — — Subtotal 2 $ 2,245 2 $ 827 Acquired Loans: Real estate—commercial Retail — $ — — $ — Hotel & motel — — — — Gas station & car wash — — — — Mixed Use — — — — Industrial & warehouse — — — — Other — — — — Real estate—construction — — — — Commercial business — — — — Trade finance — — — — Consumer and other — — — — Subtotal — $ — — $ — Total 2 $ 2,245 2 $ 827 Nine Months Ended September 30, 2018 Nine Months Ended September 30, 2017 Number of Loans Balance Number of Loans Balance (Dollars in thousands) Legacy Loans: Real estate—commercial Retail — $ — — $ — Hotel & motel 1 53 — — Gas station & car wash 1 1,019 — — Mixed Use — — — — Industrial & warehouse — — — — Other 1 1,226 — — Real estate—construction — — — — Commercial business 1 200 2 827 Trade finance — — — — Consumer and other — — — — Subtotal 4 $ 2,498 2 $ 827 Acquired Loans: Real estate—commercial Retail — $ — — $ — Hotel & motel — — — — Gas station & car wash — — — — Mixed Use — — — — Industrial & warehouse — — — — Other — — — — Real estate—construction — — — — Commercial business — — — — Trade finance — — — — Consumer and other — — — — Subtotal — $ — — $ — Total 4 $ 2,498 2 $ 827 |
Borrowings (Tables)
Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Debt Disclosure [Abstract] | |
Contractual Maturities for FHLB-SF Borrowings | At September 30, 2018 , the contractual maturities for FHLB advances were as follows: September 30, 2018 Scheduled maturities in: (Dollars in thousands) 2018 $ 40,000 2019 320,000 2020 185,000 2021 145,000 2022 and thereafter 145,000 Premium on acquired advances - no maturity 1,637 Total $ 836,637 |
Subordinated Debentures and C_2
Subordinated Debentures and Convertible Notes (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Subordinated Borrowings [Abstract] | |
Summary of Trust Preferred Securities and Debentures | The following table is a summary of trust preferred securities and Debentures at September 30, 2018 : Issuance Trust Issuance Date Trust Preferred Security Amount Carrying Rate Type Current Rate Maturity Date (Dollars in thousands) Nara Capital Trust III 06/05/2003 $ 5,000 $ 5,155 Variable 5.48% 06/15/2033 Nara Statutory Trust IV 12/22/2003 5,000 5,155 Variable 5.19% 01/07/2034 Nara Statutory Trust V 12/17/2003 10,000 10,310 Variable 5.28% 12/17/2033 Nara Statutory Trust VI 03/22/2007 8,000 8,248 Variable 3.98% 06/15/2037 Center Capital Trust I 12/30/2003 18,000 13,975 Variable 5.19% 01/07/2034 Wilshire Trust II 03/17/2005 20,000 15,472 Variable 4.12% 03/17/2035 Wilshire Trust III 09/15/2005 15,000 10,903 Variable 3.73% 09/15/2035 Wilshire Trust IV 07/10/2007 25,000 17,688 Variable 3.71% 09/15/2037 Saehan Capital Trust I 03/30/2007 20,000 14,751 Variable 4.02% 06/30/2037 Total $ 126,000 $ 101,657 |
Convertible Debt | The value of the convertible note at issuance and carrying value as of September 30, 2018 is presented below: As of September 30, 2018 Amortization/ Capitalization Period Gross Accumulated Carrying Amount (Dollars in thousands) Convertible notes principal balance $ 217,500 $ — $ 217,500 Discount 5 years (21,880 ) 1,531 (20,349 ) Issuance costs to be capitalized 5 years (4,119 ) 300 (3,819 ) Carrying balance of convertible notes $ 191,501 $ 1,831 $ 193,332 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location | At September 30, 2018 and December 31, 2017 , interest rate swaps related to the Company’s loan hedging program that were outstanding is presented in the following table: As of September 30, 2018 As of December 31, 2017 (Dollars in thousands) Interest rate swaps on loans with correspondent banks: Notional amount $ 301,852 $ 274,156 Weighted average remaining term 6.5 years 7.3 years Received fixed rate (weighted average) 4.43 % 4.34 % Pay variable rate (weighted average) 4.43 % 3.74 % Estimated fair value $ 12,685 $ 2,838 Back to back interest rate swaps with loan customers: Notional amount $ 301,852 $ 274,156 Weighted average remaining term 6.5 years 7.3 years Received variable rate (weighted average) 4.43 % 3.74 % Pay fixed rate (weighted average) 4.43 % 4.34 % Estimated fair value $ (12,685 ) $ (2,838 ) |
Schedule of Derivative Instruments | The following table reflects the notional amount and fair value of mortgage banking derivatives for the dates indicated: As of September 30, 2018 As of December 31, 2017 Notional Amount Fair Value Notional Amount Fair Value (Dollars in thousands) Assets: Interest rate lock commitments $ 7,964 $ 40 $ 4,795 $ 25 Forward sale contracts related to mortgage banking $ 4,331 $ 14 $ 2,452 $ 8 Liabilities: Interest rate lock commitments $ 1,241 $ (2 ) $ — $ — Forward sale contracts related to mortgage banking $ 8,871 $ (9 ) $ 2,343 $ 5 |
Commitments and contingencies (
Commitments and contingencies (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments | Commitments at September 30, 2018 and December 31, 2017 are summarized as follows: September 30, 2018 December 31, 2017 (Dollars in thousands) Commitments to extend credit $ 1,733,485 $ 1,526,981 Standby letters of credit 71,814 74,748 Other letters of credit 75,406 74,147 Commitments to fund investments in affordable housing partnerships 57,701 38,467 Interest rate lock 9,206 4,795 Forward sale commitments 9,206 4,795 Operating lease commitments 67,246 66,698 |
Goodwill, Intangible Assets, _2
Goodwill, Intangible Assets, and Servicing Assets (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Finite-Lived Intangible Assets | The following table provides information regarding the core deposit intangibles at September 30, 2018 : As of September 30, 2018 Core Deposit Intangibles Related To: Amortization Period Gross Carrying Amount Accumulated Amortization Carrying Amount (Dollars in thousands) Center Financial acquisition 7 years $ 4,100 $ (4,066 ) $ 34 Pacific International Bank acquisition 7 years 604 (567 ) 37 Foster Bankshares acquisition 10 years 2,763 (1,829 ) 934 Wilshire Bancorp acquisition 10 years 18,138 (4,466 ) 13,672 Total $ 25,605 $ (10,928 ) $ 14,677 |
Schedule of Servicing Assets | The changes in servicing assets for the three and nine months ended September 30, 2018 and 2017 were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Balance at beginning of period $ 25,050 $ 25,338 $ 24,710 $ 26,457 Additions through originations of servicing assets 1,503 1,484 4,819 4,096 Amortization (2,199 ) (1,743 ) (5,845 ) (5,474 ) Adjustments — — 670 — Balance at end of period $ 24,354 $ 25,079 $ 24,354 $ 25,079 |
Summary of Fair Value Inputs | The inputs used in evaluating servicing assets for impairment at September 30, 2018 and December 31, 2017 are presented below. September 30, 2018 December 31, 2017 SBA Servicing Assets: Weighted-average discount rate 10.42% 11.13% Constant prepayment rate 10.57% 8.38% Mortgage Servicing Assets: Weighted-average discount rate 10.38% 9.63% Constant prepayment rate 6.51% 9.05% |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
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 September 30, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) Assets: Securities available for sale: U.S. Government agency and U.S. Government sponsored enterprises: Collateralized mortgage obligations $ 911,881 $ — $ 911,881 $ — Mortgage-backed securities: — — Residential 412,708 — 412,708 — Commercial 448,326 — 448,326 — Corporate securities 4,349 — 4,349 — Municipal securities 76,986 — 75,943 1,043 Equity investments with readily determinable fair value 23,858 23,858 — — Interest rate swaps 12,685 — 12,685 — Mortgage banking derivatives 54 — 54 — Liabilities: Interest rate swaps 12,685 — 12,685 — Mortgage banking derivatives 11 — 11 — Fair Value Measurements at the End of the Reporting Period Using December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) Assets: Securities available for sale: U.S. Government agency and U.S. Government sponsored enterprises: Collateralized mortgage obligations $ 838,709 $ — $ 838,709 $ — Mortgage-backed securities: Residential 471,214 — 471,214 — Commercial 301,365 — 301,365 — Corporate securities 4,475 — 4,475 — Municipal securities 82,537 — 81,429 1,108 Mutual funds 21,957 21,957 — — Interest rate swaps 2,838 — 2,838 — Mortgage banking derivatives 33 — 33 — Liabilities: Interest rate swaps 2,838 — 2,838 — Mortgage banking derivatives 5 — 5 — |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The table below presents a reconciliation and income statement classification of losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2018 and 2017 : Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Beginning Balance $ 1,065 $ 1,127 $ 1,108 $ 1,139 Total losses included in other comprehensive income (loss) (22 ) (7 ) (65 ) (19 ) Ending Balance $ 1,043 $ 1,120 $ 1,043 $ 1,120 |
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 September 30, 2018 Quoted Prices Significant Significant (Dollars in thousands) Assets: Impaired loans at fair value: Real estate loans $ 11,043 $ — $ — $ 11,043 Commercial business 7,293 — — 7,293 Consumer 66 — — 66 OREO 4,062 — — 4,062 Fair Value Measurements at the End of the Reporting Period Using December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) Assets: Impaired loans at fair value: Real estate loans $ 6,086 $ — $ — $ 6,086 Commercial business 3,320 — — 3,320 Consumer 84 — — 84 OREO 5,615 — — 5,615 For assets measured at fair value on a non-recurring basis, the total net gains (losses), which include charge offs, recoveries, specific reserves, and recognized gains and losses on sales are summarized below: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2018 2017 2018 2017 (Dollars in thousands) Assets: Impaired loans at fair value: Real estate loans $ (14 ) $ 142 $ (4,620 ) $ (2,293 ) Commercial business 89 364 703 (4,637 ) Trade Finance 268 3 43 (1,236 ) Consumer (308 ) (206 ) (834 ) (701 ) Loans held for sale, net — 847 — 1,619 OREO 418 (640 ) 682 (1,967 ) |
Carrying Amounts and Estimated Fair Values of Financial Instruments | Carrying amounts and estimated fair values of financial instruments, not previously presented, at September 30, 2018 and December 31, 2017 were as follows: September 30, 2018 Carrying Estimated Fair Value Measurement Using (Dollars in thousands) Financial Assets: Cash and cash equivalents $ 522,710 $ 522,710 Level 1 Interest bearing deposits in other financial institutions and other investments 80,316 80,253 Level 1/2/3 Loans held for sale 15,023 15,820 Level 2 Loans receivable—net 11,836,553 11,753,800 Level 3 FHLB stock 25,927 N/A N/A Accrued interest receivable 33,338 33,338 Level 2/3 Servicing assets, net 24,354 26,325 Level 3 Customers’ liabilities on acceptances 1,259 1,259 Level 2 Financial Liabilities: Noninterest bearing deposits $ 3,020,819 $ 3,020,819 Level 2 Saving and other interest bearing demand deposits 3,476,501 3,476,501 Level 2 Time deposits 5,548,299 5,564,899 Level 2 FHLB advances 836,637 836,637 Level 2 Convertible notes, net 193,332 202,434 Level 1 Subordinated debentures 101,657 117,626 Level 2 Accrued interest payable 31,717 31,717 Level 2 Acceptances outstanding 1,259 1,259 Level 2 December 31, 2017 Carrying Estimated Fair Value Measurement Using (Dollars in thousands) Financial Assets: Cash and cash equivalents $ 492,000 $ 492,000 Level 1 Interest bearing deposits in other financial institutions and other investments 53,366 52,960 Level 2/3 Loans held for sale 29,661 32,048 Level 2 Loans receivable—net 11,018,034 11,112,179 Level 3 FHLB stock 29,776 N/A N/A Accrued interest receivable 29,979 29,979 Level 2/3 Servicing assets, net 24,710 27,511 Level 3 Customers’ liabilities on acceptances 1,691 1,691 Level 2 Financial Liabilities: Noninterest bearing deposits $ 2,998,734 $ 2,998,734 Level 2 Saving and other interest bearing demand deposits 3,573,212 3,573,212 Level 2 Time deposits 4,274,663 4,263,585 Level 2 FHLB advances 1,157,693 1,220,529 Level 2 Federal funds purchased 69,900 69,900 Level 2 Subordinated debentures 100,853 100,853 Level 2 Accrued interest payable 15,961 15,961 Level 2 Acceptances outstanding 1,691 1,691 Level 2 |
Stockholders_ Equity (Tables)
Stockholders’ Equity (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table presents the quarterly changes to accumulated other comprehensive (loss) income for the three and nine months ended September 30, 2018 and September 30, 2017 : Three Months Ended, September 30, 2018 September 30, 2017 (Dollars in thousands) Balance at beginning of period $ (45,122 ) $ (10,089 ) Unrealized loss on securities available for sale and interest only strips (13,114 ) (211 ) Tax effect 3,915 89 Total other comprehensive (loss) income $ (9,199 ) $ (122 ) Balance at end of period $ (54,321 ) $ (10,211 ) Nine Months Ended, September 30, 2018 September 30, 2017 (Dollars in thousands) Balance at beginning of period $ (21,781 ) $ (14,657 ) Unrealized gains on securities available for sale and interest only strips (47,012 ) 7,697 Tax effect 14,191 (3,251 ) Total other comprehensive (loss) income $ (32,821 ) $ 4,446 Reclassification to retained earnings per ASU 2016-01 281 — Balance at end of period $ (54,321 ) $ (10,211 ) |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Banking and Thrift [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | The Company’s and the Bank’s levels and ratios are presented in the table below for the dates indicated: Actual Required Minimum Capital Adequacy With Capital Conservation Buffer Required As of September 30, 2018 Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Common equity Tier 1 capital (to risk weighted assets): Company $ 1,480,530 11.61 % $ 573,630 4.50 % $ 812,643 6.375 % N/A N/A Bank $ 1,759,538 13.80 % $ 573,609 4.50 % $ 812,613 6.375 % $ 828,546 6.50 % Total capital (to risk-weighted assets): Company $ 1,669,650 13.10 % $ 1,019,787 8.00 % $ 1,258,800 9.875 % N/A N/A Bank $ 1,850,902 14.52 % $ 1,019,749 8.00 % $ 1,258,753 9.875 % $ 1,274,686 10.00 % Tier 1 capital Company $ 1,480,530 11.61 % $ 764,841 6.00 % $ 1,003,853 7.875 % N/A N/A Bank $ 1,759,538 13.80 % $ 764,812 6.00 % $ 812,613 7.875 % $ 1,019,749 8.00 % Tier 1 capital Company $ 1,480,530 10.13 % $ 584,335 4.00 % N/A N/A N/A N/A Bank $ 1,759,538 12.04 % $ 584,597 4.00 % N/A N/A $ 730,747 5.00 % Actual Required Minimum Capital Adequacy With Capital Conservation Buffer Required As of December 31, 2017 Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Common equity Tier 1 capital (to risk weighted assets): Company $ 1,471,193 12.30 % $ 538,435 4.50 % $ 688,000 5.75 % N/A N/A Bank $ 1,548,401 12.95 % $ 538,178 4.50 % $ 687,672 5.75 % $ 777,368 6.50 % Total capital (to risk-weighted assets): Company $ 1,653,521 13.82 % $ 957,217 8.00 % $ 1,106,782 9.25 % N/A N/A Bank $ 1,633,778 13.66 % $ 956,761 8.00 % $ 1,106,255 9.25 % $ 1,195,951 10.00 % Tier 1 capital Company $ 1,568,144 13.11 % $ 717,913 6.00 % $ 867,478 7.25 % N/A N/A Bank $ 1,548,401 12.95 % $ 717,571 6.00 % $ 687,672 7.25 % $ 956,761 8.00 % Tier 1 capital Company $ 1,568,144 11.54 % $ 543,528 4.00 % N/A N/A N/A N/A Bank $ 1,548,401 11.40 % $ 543,441 4.00 % N/A N/A $ 679,301 5.00 % |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue | Service charges on deposit accounts and wire transfers are summarized below: Three Months Ended September 30, Nine Months Ended September 30 2018 2017 2018 2017 (Dollars in thousands) Noninterest bearing deposit account income: Monthly service charges $ 455 $ 439 $ 1,340 $ 1,347 Customer analysis charges 1,912 2,109 5,972 6,452 NSF charges 1,961 2,344 5,947 7,077 Other service charges 225 245 679 743 Total noninterest bearing deposit account income 4,553 5,137 13,938 15,619 Interest bearing deposit account income: Monthly service charges 16 14 45 49 Total service fees on deposit accounts $ 4,569 $ 5,151 $ 13,983 $ 15,668 Wire transfer fee income: Wire transfer fees $ 1,109 $ 1,168 $ 3,338 $ 3,497 Foreign exchange fees 118 119 346 319 Total wire transfer fees $ 1,227 $ 1,287 $ 3,684 $ 3,816 |
Basis of Presentation (Details)
Basis of Presentation (Details) | 9 Months Ended |
Sep. 30, 2018lease | |
Accounting Standards Update 2016-02 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Estimated number of operating leases that will be accounted for under ASU 2016-02 | 100 |
Stock-Based Compensation - Plan
Stock-Based Compensation - Plan Description (Details) - shares | 9 Months Ended | |
Sep. 30, 2018 | Sep. 01, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares available for future grant (in shares) | 1,110,696 | |
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 | |
2016 Plan | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares initially available for grant to participants (in shares) | 2,400,000 | |
2016 Plan | Nonemployee director | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Contractual term | 10 years | |
2016 Plan | Minimum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Purchase price of common stock, percent | 100.00% | |
2016 Plan | ISOs, SARs, and NQSOs | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Contractual term | 10 years | |
2016 Plan | ISOs, SARs, and NQSOs | Minimum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Award vesting period | 3 years | |
2016 Plan | ISOs, SARs, and NQSOs | Maximum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Award vesting period | 5 years |
Stock-Based Compensation - Stoc
Stock-Based Compensation - Stock Option Activity (Details) - Stock options $ / shares in Units, $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($)$ / sharesshares | |
Number of Shares | |
Outstanding - beginning of period (in shares) | shares | 1,075,423 |
Granted (in shares) | shares | 0 |
Exercised (in shares) | shares | (57,198) |
Expired (in shares) | shares | (5,546) |
Forfeited (in shares) | shares | (24,000) |
Outstanding - end of period (in shares) | shares | 988,679 |
Weighted- Average Exercise Price Per Share | |
Outstanding - beginning of period (in dollars per share) | $ / shares | $ 15.06 |
Granted (in dollars per share) | $ / shares | 0 |
Exercised (in dollars per share) | $ / shares | 7.88 |
Expired (in dollars per share) | $ / shares | 16.62 |
Forfeited (in dollars per share) | $ / shares | 17.18 |
Outstanding - end of period (in dollars per share) | $ / shares | $ 15.41 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |
Options exercisable - end of period (in shares) | shares | 783,669 |
Options exercisable, Weighted-Average Exercise Price Per Share (in dollars per share) | $ / shares | $ 15.01 |
Outstanding, Weighted-Average Remaining Contractual Life (Years) | 6 years 8 months 9 days |
Options exercisable, Weighted-Average Remaining Contractual Life (Years) | 6 years 4 months 28 days |
Outstanding, Aggregate Intrinsic Value | $ | $ 1,335 |
Options exercisable, Aggregate Intrinsic Value | $ | $ 1,328 |
Stock-Based Compensation - Rest
Stock-Based Compensation - Restricted and Performance Unit Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ||||
ESPP compensation expense | $ 39 | $ 18 | $ 124 | $ 18 |
Allocated share-based compensation expense | 1,100 | 792 | 2,900 | 2,300 |
Tax benefit from compensation expense | $ 264 | $ 304 | $ 747 | 886 |
Retricted and performance unit activity | ||||
Number of Shares | ||||
Outstanding - beginning of period (in shares) | 379,419 | |||
Granted (in shares) | 273,725 | |||
Vested (in shares) | (149,287) | |||
Forfeited (in shares) | (20,666) | |||
Outstanding - end of period (in shares) | 483,191 | 483,191 | ||
Weighted- Average Grant Date Fair Value | ||||
Outstanding - beginning of period (in dollars per share) | $ 16.42 | |||
Granted (in dollars per share) | 16.27 | |||
Vested (in dollars per share) | 16.51 | |||
Forfeited (in dollars per share) | 16.04 | |||
Outstanding - end of period (in dollars per share) | $ 16.39 | $ 16.39 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ||||
Total compensation cost not yet recognized | $ 5,300 | $ 5,300 | ||
Total compensation cost not yet recognized, period for recognition | 2 years 7 months 21 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 | $ 2,700 | $ 2,600 | ||
Stock options | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ||||
Total compensation cost not yet recognized | $ 551 | $ 551 | ||
Total compensation cost not yet recognized, period for recognition | 2 years 9 months | |||
Employee Stock Purchase Plan (ESPP) | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ||||
Discount rate to the closing price, offering period | 10.00% | |||
Discount rate to the closing price, purchase date | 10.00% | |||
Maximum amount of common shares purchased under ESPP of employee's base salary, percent | 20.00% | 20.00% | ||
Cap amount for shares purchased per employee | $ 25 |
Earnings Per Share (Details)
Earnings Per Share (Details) | Jun. 07, 2018USD ($) | Sep. 30, 2018USD ($)$ / sharesshares | Sep. 30, 2017USD ($)$ / sharesshares | Sep. 30, 2018USD ($)$ / sharesshares | Sep. 30, 2017USD ($)$ / sharesshares | Sep. 20, 2018USD ($) | Jun. 30, 2018USD ($) | May 11, 2018USD ($) | Apr. 26, 2018USD ($) |
Antidilutive Securities Excluded from Computation of Earnings Per Share | |||||||||
Share repurchase program, authorized amount | $ | $ 50,000,000 | $ 100,000,000 | |||||||
Common stock repurchased and recorded as treasury stock (in shares) | shares | 5,565,696 | ||||||||
Repurchase of treasury stock | $ | $ 100,000,000 | ||||||||
Net Income (Numerator) | |||||||||
Basic EPS - common stock | $ | $ 46,378,000 | $ 44,564,000 | 145,140,000 | $ 121,461,000 | |||||
Diluted EPS - common stock | $ | $ 46,378,000 | $ 44,564,000 | $ 145,140,000 | $ 121,461,000 | |||||
Weighted-Average Shares (Denominator) | |||||||||
Basic EPS - common stock (in shares) | shares | 130,268,992 | 135,382,457 | 132,930,437 | 135,296,332 | |||||
Effect of dilutive securities: | |||||||||
Stock options, restricted stock, and ESPP shares (in shares) | shares | 256,482 | 248,455 | 283,632 | 365,633 | |||||
Diluted EPS - common stock (shares) | shares | 130,525,474 | 135,630,912 | 133,214,069 | 135,661,965 | |||||
Earnings Per Share | |||||||||
Basic EPS - common stock (in dollars per share) | $ / shares | $ 0.36 | $ 0.33 | $ 1.09 | $ 0.90 | |||||
Diluted EPS - common stock (in dollars per share) | $ / shares | $ 0.36 | $ 0.33 | $ 1.09 | $ 0.90 | |||||
Convertible Notes | |||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share | |||||||||
Aggregate principal amount issued | $ | $ 217,500,000 | $ 217,500,000 | $ 217,500,000 | $ 200,000,000 | |||||
Initial conversion rate | 0.0450760 | 0.0450760 | |||||||
Repurchase of treasury stock | $ | $ 76,000,000 | ||||||||
Stock options and restricted shares | |||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share | |||||||||
Antidilutive shares of common stock | shares | 306,410 | 762,833 | 296,357 | 484,426 | |||||
Warrants | |||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share | |||||||||
Antidilutive shares of common stock | shares | 20,845 | 20,238 | 20,845 | 20,238 |
Equity Investment Securities -
Equity Investment Securities - Narrative (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2018 | Dec. 31, 2017 | |
Investment [Line Items] | |||
Reclassification of unrealized losses on equity investments to retained earnings - ASU 2016-01 | $ (188,000) | ||
Equity investments without readily determinable fair values | $ 26,300,000 | $ 26,300,000 | |
Equity investments without readily determinable fair values, impairment | 0 | 0 | |
Equity investments without readily determinable fair values, observable price changes | 0 | 0 | |
Mutual funds | |||
Investment [Line Items] | |||
Equity investments without readily determinable fair values | 21,300,000 | 21,300,000 | |
Equity stock in other institutions | |||
Investment [Line Items] | |||
Equity investments without readily determinable fair values | 2,600,000 | 2,600,000 | |
Correspondent bank stock | |||
Investment [Line Items] | |||
Equity investments without readily determinable fair values | 370,000 | 370,000 | |
Community development financial institutions | |||
Investment [Line Items] | |||
Equity investments without readily determinable fair values | 1,000,000 | 1,000,000 | |
Community reinvestment act investments | |||
Investment [Line Items] | |||
Equity investments without readily determinable fair values | $ 24,900,000 | $ 24,900,000 | |
Retained earnings | |||
Investment [Line Items] | |||
Reclassification of unrealized losses on equity investments to retained earnings - ASU 2016-01 | $ (469,000) |
Equity Investment Securities _2
Equity Investment Securities - Change in Fair Value of Equity Investments (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2018 | Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | ||
Net change in fair value recorded during the period on equity investment securities | $ (1,617) | $ 1,901 |
Net change in fair value recorded on equity investment securities sold during the period | 0 | 0 |
Net change in fair value on equity investment securities at end of period | $ (1,617) | $ 1,901 |
Securities Available for Sale -
Securities Available for Sale - Summary of Securities Available for Sale (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2016 | |
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Amortized Cost | $ 1,932,417,000 | $ 1,932,417,000 | $ 1,751,879,000 | |||||
Gross Unrealized Gains | 193,000 | 193,000 | 1,466,000 | |||||
Gross Unrealized Losses | (78,360,000) | (78,360,000) | (33,088,000) | |||||
Estimated Fair Value | 1,854,250,000 | 1,854,250,000 | 1,720,257,000 | |||||
Unrealized losses on securities | 54,321,000 | $ 10,211,000 | 54,321,000 | $ 10,211,000 | 21,781,000 | $ 45,122,000 | $ 10,089,000 | $ 14,657,000 |
Reclassifications out of accumulated other comprehensive (loss) income | 0 | $ 0 | 0 | $ 0 | ||||
Reclassification of unrealized losses on equity investments to retained earnings - ASU 2016-01 | (188,000) | |||||||
Available-for-sale Securities | ||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Unrealized losses on securities | 55,500,000 | 55,500,000 | 19,000,000 | |||||
Interest-Only-Strip | ||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Unrealized losses on securities | 48,000 | 48,000 | 41,000 | |||||
Retained earnings | ||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Reclassification of unrealized losses on equity investments to retained earnings - ASU 2016-01 | (469,000) | |||||||
Retained earnings | Accounting Standards Update 2016-01 | ||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Reclassification of unrealized losses on equity investments to retained earnings - ASU 2016-01 | 469,000 | |||||||
Collateralized mortgage obligations | ||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Amortized Cost | 948,536,000 | 948,536,000 | 856,193,000 | |||||
Gross Unrealized Gains | 10,000 | 10,000 | 58,000 | |||||
Gross Unrealized Losses | (36,665,000) | (36,665,000) | (17,542,000) | |||||
Estimated Fair Value | 911,881,000 | 911,881,000 | 838,709,000 | |||||
Residential | ||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Amortized Cost | 431,790,000 | 431,790,000 | 477,676,000 | |||||
Gross Unrealized Gains | 9,000 | 9,000 | 521,000 | |||||
Gross Unrealized Losses | (19,091,000) | (19,091,000) | (6,983,000) | |||||
Estimated Fair Value | 412,708,000 | 412,708,000 | 471,214,000 | |||||
Commercial | ||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Amortized Cost | 467,761,000 | 467,761,000 | 308,046,000 | |||||
Gross Unrealized Gains | 0 | 0 | 0 | |||||
Gross Unrealized Losses | (19,435,000) | (19,435,000) | (6,681,000) | |||||
Estimated Fair Value | 448,326,000 | 448,326,000 | 301,365,000 | |||||
Corporate securities | ||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Amortized Cost | 5,000,000 | 5,000,000 | 4,997,000 | |||||
Gross Unrealized Gains | 0 | 0 | 0 | |||||
Gross Unrealized Losses | (651,000) | (651,000) | (522,000) | |||||
Estimated Fair Value | 4,349,000 | 4,349,000 | 4,475,000 | |||||
Municipal securities | ||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Amortized Cost | 79,330,000 | 79,330,000 | 82,542,000 | |||||
Gross Unrealized Gains | 174,000 | 174,000 | 870,000 | |||||
Gross Unrealized Losses | (2,518,000) | (2,518,000) | (875,000) | |||||
Estimated Fair Value | $ 76,986,000 | $ 76,986,000 | 82,537,000 | |||||
Total debt securities | ||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Amortized Cost | 1,729,454,000 | |||||||
Gross Unrealized Gains | 1,449,000 | |||||||
Gross Unrealized Losses | (32,603,000) | |||||||
Estimated Fair Value | 1,698,300,000 | |||||||
Mutual funds | ||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Amortized Cost | 22,425,000 | |||||||
Gross Unrealized Gains | 17,000 | |||||||
Gross Unrealized Losses | (485,000) | |||||||
Estimated Fair Value | $ 21,957,000 | |||||||
Non-US Government and Agency Securities | Credit concentration risk | Stockholders' equity | ||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Maximum exposure to any single issuer | 10.00% | 10.00% |
Securities Available for Sale_2
Securities Available for Sale - Amortized Cost and Estimated Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Amortized Cost | ||
Due within one year | $ 751 | |
Due after one year through five years | 17,393 | |
Due after five years through ten years | 28,861 | |
Due after ten years | 37,325 | |
Amortized Cost | 1,932,417 | $ 1,751,879 |
Estimated Fair Value | ||
Due within one year | 766 | |
Due after one year through five years | 17,374 | |
Due after five years through ten years | 28,379 | |
Due after ten years | 34,816 | |
Estimated Fair Value | 1,854,250 | 1,720,257 |
Carrying value of securities pledged to secure public deposits, pledged for various borrowings and for other purposes required or permitted by law | 353,800 | 359,200 |
Collateralized mortgage obligations | ||
Amortized Cost | ||
Amortized Cost | 948,536 | 856,193 |
Estimated Fair Value | ||
No single maturity date | 911,881 | |
Estimated Fair Value | 911,881 | 838,709 |
Residential | ||
Amortized Cost | ||
Amortized Cost | 431,790 | 477,676 |
Estimated Fair Value | ||
No single maturity date | 412,708 | |
Estimated Fair Value | 412,708 | 471,214 |
Commercial | ||
Amortized Cost | ||
Amortized Cost | 467,761 | 308,046 |
Estimated Fair Value | ||
No single maturity date | 448,326 | |
Estimated Fair Value | 448,326 | 301,365 |
Corporate securities | ||
Amortized Cost | ||
Amortized Cost | 5,000 | 4,997 |
Estimated Fair Value | ||
Estimated Fair Value | 4,349 | 4,475 |
Municipal securities | ||
Amortized Cost | ||
Amortized Cost | 79,330 | 82,542 |
Estimated Fair Value | ||
Estimated Fair Value | $ 76,986 | 82,537 |
Mutual funds | ||
Amortized Cost | ||
Amortized Cost | 22,425 | |
Estimated Fair Value | ||
Estimated Fair Value | $ 21,957 |
Securities Available for Sale_3
Securities Available for Sale - Aggregate Unrealized Losses and Fair Value (Details) | 9 Months Ended | |
Sep. 30, 2018USD ($)security | Dec. 31, 2017USD ($)security | |
Number of Securities | ||
Less than 12 months | security | 120 | 94 |
12 months or longer | security | 153 | 90 |
Total | security | 273 | 184 |
Fair Value | ||
Less than 12 months | $ 511,350,000 | $ 829,310,000 |
12 months or longer | 1,316,063,000 | 787,873,000 |
Total | 1,827,413,000 | 1,617,183,000 |
Gross Unrealized Losses | ||
Less than 12 months | (8,163,000) | (9,542,000) |
12 months or longer | (70,197,000) | (23,546,000) |
Total | (78,360,000) | $ (33,088,000) |
Collateralized mortgage obligations | ||
Gross Unrealized Losses | ||
12 months or longer | (35,200,000) | |
OTTI recognized | $ 0 | |
Collateralized mortgage obligations | ||
Number of Securities | ||
Less than 12 months | security | 20 | 38 |
12 months or longer | security | 86 | 53 |
Total | security | 106 | 91 |
Fair Value | ||
Less than 12 months | $ 209,673,000 | $ 425,198,000 |
12 months or longer | 700,789,000 | 408,526,000 |
Total | 910,462,000 | 833,724,000 |
Gross Unrealized Losses | ||
Less than 12 months | (1,418,000) | (5,954,000) |
12 months or longer | (35,247,000) | (11,588,000) |
Total | $ (36,665,000) | $ (17,542,000) |
Residential | ||
Number of Securities | ||
Less than 12 months | security | 11 | 20 |
12 months or longer | security | 41 | 23 |
Total | security | 52 | 43 |
Fair Value | ||
Less than 12 months | $ 63,627,000 | $ 195,086,000 |
12 months or longer | 347,316,000 | 230,616,000 |
Total | 410,943,000 | 425,702,000 |
Gross Unrealized Losses | ||
Less than 12 months | (1,280,000) | (1,282,000) |
12 months or longer | (17,811,000) | (5,701,000) |
Total | $ (19,091,000) | $ (6,983,000) |
Commercial | ||
Number of Securities | ||
Less than 12 months | security | 18 | 16 |
12 months or longer | security | 20 | 8 |
Total | security | 38 | 24 |
Fair Value | ||
Less than 12 months | $ 195,427,000 | $ 186,357,000 |
12 months or longer | 242,896,000 | 115,008,000 |
Total | 438,323,000 | 301,365,000 |
Gross Unrealized Losses | ||
Less than 12 months | (4,712,000) | (1,614,000) |
12 months or longer | (14,723,000) | (5,067,000) |
Total | $ (19,435,000) | $ (6,681,000) |
Corporate securities | ||
Number of Securities | ||
Less than 12 months | security | 0 | 1 |
12 months or longer | security | 1 | 0 |
Total | security | 1 | 1 |
Fair Value | ||
Less than 12 months | $ 0 | $ 4,475,000 |
12 months or longer | 4,349,000 | 0 |
Total | 4,349,000 | 4,475,000 |
Gross Unrealized Losses | ||
Less than 12 months | 0 | (522,000) |
12 months or longer | (651,000) | 0 |
Total | $ (651,000) | $ (522,000) |
Municipal securities | ||
Number of Securities | ||
Less than 12 months | security | 71 | 18 |
12 months or longer | security | 5 | 3 |
Total | security | 76 | 21 |
Fair Value | ||
Less than 12 months | $ 42,623,000 | $ 9,295,000 |
12 months or longer | 20,713,000 | 22,144,000 |
Total | 63,336,000 | 31,439,000 |
Gross Unrealized Losses | ||
Less than 12 months | (753,000) | (69,000) |
12 months or longer | (1,765,000) | (806,000) |
Total | (2,518,000) | $ (875,000) |
OTTI recognized | 0 | |
Mutual funds | ||
Number of Securities | ||
Less than 12 months | security | 1 | |
12 months or longer | security | 3 | |
Total | security | 4 | |
Fair Value | ||
Less than 12 months | $ 8,899,000 | |
12 months or longer | 11,579,000 | |
Total | 20,478,000 | |
Gross Unrealized Losses | ||
Less than 12 months | (101,000) | |
12 months or longer | (384,000) | |
Total | $ (485,000) | |
Mortgage-backed securities | ||
Gross Unrealized Losses | ||
12 months or longer | (32,500,000) | |
OTTI recognized | $ 0 |
Loans Receivable and Allowanc_3
Loans Receivable and Allowance for Loan Losses - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) $ in Thousands | 9 Months Ended | |||||
Sep. 30, 2018USD ($)segment | Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Dec. 31, 2016USD ($) | |
Real estate loans: | ||||||
Total loans outstanding | $ 11,927,905 | $ 11,102,857 | ||||
Deferred loan fees, net | (723) | (282) | ||||
Loans receivable | 11,927,182 | 11,102,575 | ||||
Allowance for loan losses | (90,629) | $ (89,881) | (84,541) | $ (83,633) | $ (80,074) | $ (79,343) |
Loans receivable, net of allowance for loan losses | $ 11,836,553 | 11,018,034 | ||||
Number of portfolio segments | segment | 4 | |||||
Real estate | ||||||
Real estate loans: | ||||||
Total loans outstanding | $ 8,639,857 | 8,508,222 | ||||
Real estate | Residential | ||||||
Real estate loans: | ||||||
Total loans outstanding | 49,602 | 49,774 | ||||
Allowance for loan losses | (55) | (88) | ||||
Real estate | Commercial | ||||||
Real estate loans: | ||||||
Total loans outstanding | 8,307,213 | 8,142,036 | ||||
Allowance for loan losses | (61,658) | (57,664) | ||||
Real estate | Construction | ||||||
Real estate loans: | ||||||
Total loans outstanding | 283,042 | 316,412 | ||||
Allowance for loan losses | (615) | (930) | ||||
Commercial business | ||||||
Real estate loans: | ||||||
Total loans outstanding | 2,126,608 | 1,780,869 | ||||
Allowance for loan losses | (21,948) | (20,755) | ||||
Trade finance | ||||||
Real estate loans: | ||||||
Total loans outstanding | 191,605 | 166,664 | ||||
Allowance for loan losses | (841) | (1,716) | ||||
Consumer and other | ||||||
Real estate loans: | ||||||
Total loans outstanding | 969,835 | 647,102 | ||||
Allowance for loan losses | $ (5,512) | $ (3,388) |
Loans Receivable and Allowanc_4
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 | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | $ 53,573 | $ 53,657 | $ 55,002 | $ 43,611 |
Accretion | (5,239) | (5,815) | (16,970) | (16,375) |
Reclassification from nonaccretable difference | 7,889 | 6,696 | 18,191 | 27,302 |
Balance at end of period | $ 56,223 | $ 54,538 | $ 56,223 | $ 54,538 |
Loans Receivable and Allowanc_5
Loans Receivable and Allowance for Loan Losses - Allowance for Credit Losses on Financing Receivables (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Dec. 31, 2017 | |
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | $ 89,881 | $ 80,074 | $ 84,541 | $ 79,343 | ||
Provision (credit) for loan losses | 7,300 | 5,400 | 12,100 | 13,760 | ||
Loans charged off | (6,867) | (4,913) | (9,198) | (13,640) | ||
Recoveries of charge offs | 315 | 3,072 | 3,186 | 4,170 | ||
Balance, end of period | 90,629 | 83,633 | 90,629 | 83,633 | ||
Allowance for loan losses - Individually evaluated for impairment | $ 4,019 | $ 5,323 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 73,756 | 67,178 | ||||
Allowance for loan losses - Total | 89,881 | 80,074 | 84,541 | 79,343 | 90,629 | 84,541 |
Loans outstanding - Individually evaluated for impairment | 109,182 | 114,349 | ||||
Loans outstanding - Collectively evaluated for impairment | 11,655,545 | 10,791,600 | ||||
Loans outstanding - PCI loans | 11,836,553 | 11,018,034 | ||||
Loans outstanding - Total | 11,927,905 | 11,102,857 | ||||
Receivables acquired with deteriorated credit quality | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 12,040 | |||||
Balance, end of period | 12,854 | 12,854 | ||||
Allowance for loan losses - Total | 12,854 | 12,040 | 12,854 | 12,040 | ||
Loans outstanding - PCI loans | 163,178 | 196,908 | ||||
Legacy Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Loans outstanding - Total | 9,827,652 | 8,338,522 | ||||
Acquired Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Provision (credit) for loan losses | (1,700) | (737) | ||||
Loans outstanding - Total | 2,100,253 | 2,764,335 | ||||
Real estate | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Loans outstanding - Total | 8,639,857 | 8,508,222 | ||||
Real estate | Legacy Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 48,235 | 40,478 | 45,360 | 38,956 | ||
Provision (credit) for loan losses | 5,537 | 3,664 | 7,792 | 7,174 | ||
Loans charged off | (5,854) | (175) | (6,061) | (2,221) | ||
Recoveries of charge offs | 41 | 23 | 868 | 81 | ||
Balance, end of period | 47,959 | 43,990 | 47,959 | 43,990 | ||
Allowance for loan losses - Individually evaluated for impairment | 373 | 1,378 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 47,586 | 43,982 | ||||
Allowance for loan losses - Total | 48,235 | 40,478 | 45,360 | 38,956 | 47,959 | 45,360 |
Loans outstanding - Individually evaluated for impairment | 42,879 | 41,041 | ||||
Loans outstanding - Collectively evaluated for impairment | 6,766,006 | 6,172,448 | ||||
Loans outstanding - Total | 6,808,885 | 6,213,489 | ||||
Real estate | Legacy Loans | Receivables acquired with deteriorated credit quality | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 0 | |||||
Balance, end of period | 0 | 0 | ||||
Allowance for loan losses - Total | 0 | 0 | 0 | 0 | ||
Loans outstanding - PCI loans | 0 | 0 | ||||
Real estate | Acquired Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 12,816 | 13,411 | 13,322 | 12,791 | ||
Provision (credit) for loan losses | 1,744 | (1,312) | 1,430 | (406) | ||
Loans charged off | (191) | (162) | (385) | (479) | ||
Recoveries of charge offs | 0 | 0 | 2 | 31 | ||
Balance, end of period | 14,369 | 11,937 | 14,369 | 11,937 | ||
Allowance for loan losses - Individually evaluated for impairment | 295 | 246 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 1,220 | 1,036 | ||||
Allowance for loan losses - Total | 12,816 | 13,411 | 13,322 | 12,791 | 14,369 | 13,322 |
Loans outstanding - Individually evaluated for impairment | 17,039 | 14,239 | ||||
Loans outstanding - Collectively evaluated for impairment | 1,682,321 | 2,120,001 | ||||
Loans outstanding - Total | 1,830,972 | 2,294,733 | ||||
Real estate | Acquired Loans | Receivables acquired with deteriorated credit quality | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 12,040 | |||||
Balance, end of period | 12,854 | 12,854 | ||||
Allowance for loan losses - Total | 12,854 | 12,040 | 12,854 | 12,040 | ||
Loans outstanding - PCI loans | 131,612 | 160,493 | ||||
Commercial business | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 20,755 | |||||
Balance, end of period | 21,948 | 21,948 | ||||
Allowance for loan losses - Total | 21,948 | 20,755 | 21,948 | 20,755 | ||
Loans outstanding - Total | 2,126,608 | 1,780,869 | ||||
Commercial business | Legacy Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 22,031 | 21,495 | 17,228 | 23,430 | ||
Provision (credit) for loan losses | (856) | 1,499 | 2,920 | 2,356 | ||
Loans charged off | (292) | (3,870) | (1,080) | (7,485) | ||
Recoveries of charge offs | 188 | 3,020 | 2,003 | 3,843 | ||
Balance, end of period | 21,071 | 22,144 | 21,071 | 22,144 | ||
Allowance for loan losses - Individually evaluated for impairment | 2,920 | 2,807 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 18,151 | 14,421 | ||||
Allowance for loan losses - Total | 22,031 | 21,495 | 17,228 | 23,430 | 21,071 | 17,228 |
Loans outstanding - Individually evaluated for impairment | 32,009 | 31,322 | ||||
Loans outstanding - Collectively evaluated for impairment | 1,974,442 | 1,459,273 | ||||
Loans outstanding - Total | 2,006,451 | 1,490,595 | ||||
Commercial business | Legacy Loans | Receivables acquired with deteriorated credit quality | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 0 | |||||
Balance, end of period | 0 | 0 | ||||
Allowance for loan losses - Total | 0 | 0 | 0 | 0 | ||
Loans outstanding - PCI loans | 0 | 0 | ||||
Commercial business | Acquired Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 991 | 1,291 | 3,527 | 117 | ||
Provision (credit) for loan losses | 28 | 395 | (2,114) | 1,517 | ||
Loans charged off | (174) | (471) | (740) | (596) | ||
Recoveries of charge offs | 32 | 25 | 204 | 202 | ||
Balance, end of period | 877 | 1,240 | 877 | 1,240 | ||
Allowance for loan losses - Individually evaluated for impairment | 425 | 854 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 452 | 2,673 | ||||
Allowance for loan losses - Total | 991 | 1,291 | 3,527 | 117 | 877 | 3,527 |
Loans outstanding - Individually evaluated for impairment | 6,001 | 18,733 | ||||
Loans outstanding - Collectively evaluated for impairment | 89,390 | 244,980 | ||||
Loans outstanding - Total | 120,157 | 290,274 | ||||
Commercial business | Acquired Loans | Receivables acquired with deteriorated credit quality | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 0 | |||||
Balance, end of period | 0 | 0 | ||||
Allowance for loan losses - Total | 0 | 0 | 0 | 0 | ||
Loans outstanding - PCI loans | 24,766 | 26,561 | ||||
Trade finance | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 1,716 | |||||
Balance, end of period | 841 | 841 | ||||
Allowance for loan losses - Total | 841 | 1,716 | 841 | 1,716 | ||
Loans outstanding - Total | 191,605 | 166,664 | ||||
Trade finance | Legacy Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 983 | 1,000 | 1,674 | 1,897 | ||
Provision (credit) for loan losses | (159) | 418 | (874) | 1,621 | ||
Loans charged off | 0 | 0 | 0 | (2,104) | ||
Recoveries of charge offs | 17 | 2 | 41 | 6 | ||
Balance, end of period | 841 | 1,420 | 841 | 1,420 | ||
Allowance for loan losses - Individually evaluated for impairment | 1 | 3 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 840 | 1,671 | ||||
Allowance for loan losses - Total | 983 | 1,000 | 1,674 | 1,897 | 841 | 1,674 |
Loans outstanding - Individually evaluated for impairment | 5,940 | 3,951 | ||||
Loans outstanding - Collectively evaluated for impairment | 182,433 | 152,204 | ||||
Loans outstanding - Total | 188,373 | 156,155 | ||||
Trade finance | Legacy Loans | Receivables acquired with deteriorated credit quality | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 0 | |||||
Balance, end of period | 0 | 0 | ||||
Allowance for loan losses - Total | 0 | 0 | 0 | 0 | ||
Loans outstanding - PCI loans | 0 | 0 | ||||
Trade finance | Acquired Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 3 | 106 | 42 | 0 | ||
Provision (credit) for loan losses | (3) | 56 | (42) | 162 | ||
Loans charged off | 0 | 0 | 0 | 0 | ||
Recoveries of charge offs | 0 | 0 | 0 | 0 | ||
Balance, end of period | 0 | 162 | 0 | 162 | ||
Allowance for loan losses - Individually evaluated for impairment | 0 | 0 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 0 | 42 | ||||
Allowance for loan losses - Total | 3 | 106 | 42 | 0 | 0 | 42 |
Loans outstanding - Individually evaluated for impairment | 3,232 | 2,984 | ||||
Loans outstanding - Collectively evaluated for impairment | 0 | 7,525 | ||||
Loans outstanding - Total | 3,232 | 10,509 | ||||
Trade finance | Acquired Loans | Receivables acquired with deteriorated credit quality | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 0 | |||||
Balance, end of period | 0 | 0 | ||||
Allowance for loan losses - Total | 0 | 0 | 0 | 0 | ||
Loans outstanding - PCI loans | 0 | 0 | ||||
Consumer and other | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 3,388 | |||||
Balance, end of period | 5,512 | 5,512 | ||||
Allowance for loan losses - Total | 5,512 | 3,388 | 5,512 | 3,388 | ||
Loans outstanding - Total | 969,835 | 647,102 | ||||
Consumer and other | Legacy Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 4,799 | 2,282 | 3,385 | 2,116 | ||
Provision (credit) for loan losses | 1,036 | 664 | 2,999 | 1,348 | ||
Loans charged off | (343) | (218) | (919) | (738) | ||
Recoveries of charge offs | 1 | 0 | 28 | 2 | ||
Balance, end of period | 5,493 | 2,728 | 5,493 | 2,728 | ||
Allowance for loan losses - Individually evaluated for impairment | 4 | 35 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 5,489 | 3,350 | ||||
Allowance for loan losses - Total | 4,799 | 2,282 | 3,385 | 2,116 | 5,493 | 3,385 |
Loans outstanding - Individually evaluated for impairment | 831 | 908 | ||||
Loans outstanding - Collectively evaluated for impairment | 823,112 | 477,375 | ||||
Loans outstanding - Total | 823,943 | 478,283 | ||||
Consumer and other | Legacy Loans | Receivables acquired with deteriorated credit quality | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 0 | |||||
Balance, end of period | 0 | 0 | ||||
Allowance for loan losses - Total | 0 | 0 | 0 | 0 | ||
Loans outstanding - PCI loans | 0 | 0 | ||||
Consumer and other | Acquired Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 23 | 11 | 3 | 36 | ||
Provision (credit) for loan losses | (27) | 16 | (11) | (12) | ||
Loans charged off | (13) | (17) | (13) | (17) | ||
Recoveries of charge offs | 36 | 2 | 40 | 5 | ||
Balance, end of period | 19 | 12 | 19 | 12 | ||
Allowance for loan losses - Individually evaluated for impairment | 1 | 0 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 18 | 3 | ||||
Allowance for loan losses - Total | 23 | $ 11 | 3 | $ 36 | 19 | 3 |
Loans outstanding - Individually evaluated for impairment | 1,251 | 1,171 | ||||
Loans outstanding - Collectively evaluated for impairment | 137,841 | 157,794 | ||||
Loans outstanding - Total | 145,892 | 168,819 | ||||
Consumer and other | Acquired Loans | Receivables acquired with deteriorated credit quality | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 0 | |||||
Balance, end of period | 0 | 0 | ||||
Allowance for loan losses - Total | $ 0 | $ 0 | 0 | 0 | ||
Loans outstanding - PCI loans | $ 6,800 | $ 9,854 |
Loans Receivable and Allowanc_6
Loans Receivable and Allowance for Loan Losses - Additional Information (Details) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018USD ($)loan | Sep. 30, 2017USD ($)loan | Sep. 30, 2018USD ($)loanloan_pool | Sep. 30, 2017USD ($)loan | Dec. 31, 2017USD ($) | |
Receivables [Abstract] | |||||
Commitment to lend | $ 736,000 | $ 736,000 | $ 836,000 | ||
Credit for unfunded loan commitments | $ (50,000) | $ (2,800,000) | $ (100,000) | $ (2,358,000) | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Number of non-homogeneous loan pools | loan_pool | 19 | ||||
Positive or negative qualitative adjustment of the Loss Migration Ratio | 0.50% | 0.50% | |||
Provision (credit) for loan losses | $ 7,300,000 | 5,400,000 | $ 12,100,000 | 13,760,000 | |
Specific reserves TDRs | 3,600,000 | 3,600,000 | $ 4,800,000 | ||
Specific reserves | 204,000 | 376,000 | 242,000 | 1,300,000 | |
Charge offs | 0 | 0 | 0 | 0 | |
Specific reserves for the TDRs that had payment defaults | $ 155,000 | $ 0 | $ 158,000 | $ 0 | |
Number of Loans | loan | 2 | 2 | 4 | 2 | |
Balance | $ 2,245,000 | $ 827,000 | $ 2,498,000 | $ 827,000 | |
Acquired Loans | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Provision (credit) for loan losses | (1,700,000) | (737,000) | |||
Provision (credit) for PCI loan losses | $ (1,500,000) | $ (851,000) | |||
Charge offs | $ 0 | ||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Acquired Loans | Real estate | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Provision (credit) for loan losses | $ 1,744,000 | $ (1,312,000) | $ 1,430,000 | $ (406,000) | |
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Acquired Loans | Commercial business | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Provision (credit) for loan losses | $ 28,000 | $ 395,000 | $ (2,114,000) | $ 1,517,000 | |
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Acquired Loans | Consumer and other | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Legacy Loans | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Charge offs | $ 0 | $ 203,000 | $ 0 | $ 203,000 | |
Number of Loans | loan | 2 | 2 | 4 | 2 | |
Balance | $ 2,245,000 | $ 827,000 | $ 2,498,000 | $ 827,000 | |
Legacy Loans | Real estate | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Provision (credit) for loan losses | $ 5,537,000 | $ 3,664,000 | $ 7,792,000 | $ 7,174,000 | |
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Legacy Loans | Real estate | Maturity / amortization concession | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Number of Loans | loan | 1 | 1 | |||
Balance | $ 1,200,000 | $ 1,200,000 | |||
Legacy Loans | Real estate | Payment concession | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Number of Loans | loan | 2 | 2 | |||
Balance | $ 1,100,000 | $ 1,100,000 | |||
Legacy Loans | Commercial business | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Provision (credit) for loan losses | $ (856,000) | $ 1,499,000 | $ 2,920,000 | $ 2,356,000 | |
Number of Loans | loan | 0 | 2 | 1 | 2 | |
Balance | $ 0 | $ 827,000 | $ 200,000 | $ 827,000 | |
Legacy Loans | Commercial business | Maturity / amortization concession | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Number of Loans | loan | 1 | 2 | 1 | 2 | |
Balance | $ 200,000 | $ 200,000 | $ 827,000 | ||
Legacy Loans | Consumer and other | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Commercial real estate loan portfolio | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Number of non-homogeneous loan pools | loan_pool | 14 | ||||
Commercial and industrial loan portfolio | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Number of non-homogeneous loan pools | loan_pool | 5 | ||||
Doubtful or Loss | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Scope for evaluation of individual impairment, maximum threshold | $ 500,000 | $ 500,000 |
Loans Receivable and Allowanc_7
Loans Receivable and Allowance for Loan Losses - Impaired Financing Receivables (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | $ 34,775 | $ 34,775 | $ 31,658 | ||
Recorded Investment, With no related allowance | 74,407 | 74,407 | 82,691 | ||
Related Allowance | 4,019 | 4,019 | 5,323 | ||
Impaired Loans, net of allowance | 105,163 | 105,163 | 109,026 | ||
Total recorded investment | 109,182 | 109,182 | 114,349 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 38,327 | 38,327 | 39,604 | ||
Unpaid Contractual Principal Balance, With no related allowance | 95,381 | 95,381 | 96,817 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 133,708 | 133,708 | 136,421 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 42,077 | $ 40,412 | 43,429 | $ 48,432 | |
Average Recorded Investment, With no related allowance | 71,393 | 64,147 | 70,525 | 71,336 | |
Average Recorded Investment, Total | 113,470 | 104,559 | 113,954 | 119,768 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 233 | 403 | 716 | 1,207 | |
Interest Income Recognized during Impairment, With no related allowance | 500 | 467 | 1,449 | 1,346 | |
Interest Income Recognized during Impairment, Total | 733 | 870 | $ 2,165 | 2,553 | |
Threshold period for loans to be placed on nonaccrual status | 90 days | ||||
Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 8,409 | $ 8,409 | 3,003 | ||
Recorded Investment, With no related allowance | 19,114 | 19,114 | 34,124 | ||
Related Allowance | 721 | 721 | 1,100 | ||
Total recorded investment | 27,523 | 27,523 | 37,127 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 11,280 | 11,280 | 4,598 | ||
Unpaid Contractual Principal Balance, With no related allowance | 24,311 | 24,311 | 39,468 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 35,591 | 35,591 | 44,066 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 9,526 | 3,296 | 10,755 | 2,736 | |
Average Recorded Investment, With no related allowance | 22,783 | 13,264 | 21,171 | 16,881 | |
Average Recorded Investment, Total | 32,309 | 16,560 | 31,926 | 19,617 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 86 | 19 | 251 | 51 | |
Interest Income Recognized during Impairment, With no related allowance | 169 | 199 | 476 | 559 | |
Interest Income Recognized during Impairment, Total | 255 | 218 | 727 | 610 | |
Real estate | Residential | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 0 | 0 | 0 | ||
Recorded Investment, With no related allowance | 0 | 0 | 0 | ||
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 | 125 | 0 | 63 | 0 | |
Average Recorded Investment, With no related allowance | 0 | 249 | 0 | 1,381 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | |
Interest Income Recognized during Impairment, With no related allowance | 0 | 20 | 0 | 57 | |
Real estate | Residential | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 0 | 0 | 0 | ||
Recorded Investment, With no related allowance | 0 | 0 | 0 | ||
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 | 125 | 0 | 63 | 0 | |
Average Recorded Investment, With no related allowance | 0 | 249 | 0 | 294 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | |
Interest Income Recognized during Impairment, With no related allowance | 0 | 20 | 0 | 57 | |
Real estate | Commercial | |||||
Impaired Loans, Recorded Investment | |||||
Related Allowance | 668 | 668 | 1,624 | ||
Real estate | Commercial | Retail | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 1,690 | 1,690 | 532 | ||
Recorded Investment, With no related allowance | 7,935 | 7,935 | 11,792 | ||
Related Allowance | 231 | 231 | 131 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 1,796 | 1,796 | 531 | ||
Unpaid Contractual Principal Balance, With no related allowance | 11,026 | 11,026 | 13,923 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 4,740 | 1,197 | 4,099 | 1,268 | |
Average Recorded Investment, With no related allowance | 7,901 | 10,071 | 10,390 | 12,412 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 8 | 4 | 22 | 11 | |
Interest Income Recognized during Impairment, With no related allowance | 36 | 91 | 107 | 263 | |
Real estate | Commercial | Retail | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 492 | 492 | 262 | ||
Recorded Investment, With no related allowance | 3,097 | 3,097 | 3,412 | ||
Related Allowance | 166 | 166 | 126 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 512 | 512 | 261 | ||
Unpaid Contractual Principal Balance, With no related allowance | 3,883 | 3,883 | 4,099 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 793 | 927 | 588 | 998 | |
Average Recorded Investment, With no related allowance | 3,008 | 1,709 | 3,181 | 2,729 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 0 | 4 | 0 | 11 | |
Interest Income Recognized during Impairment, With no related allowance | 31 | 15 | 92 | 45 | |
Real estate | Commercial | Hotel & motel | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 3,036 | 3,036 | 2,931 | ||
Recorded Investment, With no related allowance | 9,279 | 9,279 | 2,841 | ||
Related Allowance | 286 | 286 | 284 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 3,387 | 3,387 | 5,090 | ||
Unpaid Contractual Principal Balance, With no related allowance | 18,107 | 18,107 | 5,288 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 2,897 | 2,269 | 2,888 | 4,330 | |
Average Recorded Investment, With no related allowance | 6,834 | 10,494 | 4,887 | 8,346 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 0 | 17 | 0 | 49 | |
Interest Income Recognized during Impairment, With no related allowance | 0 | 59 | 0 | 175 | |
Real estate | Commercial | Hotel & motel | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 72 | 72 | 85 | ||
Recorded Investment, With no related allowance | 5,459 | 5,459 | 482 | ||
Related Allowance | 5 | 5 | 2 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 345 | 345 | 86 | ||
Unpaid Contractual Principal Balance, With no related allowance | 6,891 | 6,891 | 1,887 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 73 | 174 | 79 | 110 | |
Average Recorded Investment, With no related allowance | 3,516 | 2,671 | 2,000 | 3,737 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | |
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | 0 | |
Real estate | Commercial | Gas station & car wash | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 0 | 0 | 0 | ||
Recorded Investment, With no related allowance | 380 | 380 | 591 | ||
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 | 3,668 | 3,668 | 1,764 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 0 | 0 | 0 | 54 | |
Average Recorded Investment, With no related allowance | 358 | 3,022 | 514 | 3,812 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | |
Interest Income Recognized during Impairment, With no related allowance | 0 | 114 | 0 | 317 | |
Real estate | Commercial | Gas station & car wash | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 0 | 0 | 0 | ||
Recorded Investment, With no related allowance | 248 | 248 | 1 | ||
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 | 2,673 | 2,673 | 28 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 0 | 0 | 0 | 0 | |
Average Recorded Investment, With no related allowance | 218 | 454 | 159 | 774 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | |
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | 0 | |
Real estate | Commercial | Mixed use | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 2,996 | 2,996 | 312 | ||
Recorded Investment, With no related allowance | 3,924 | 3,924 | 1,101 | ||
Related Allowance | 32 | 32 | 4 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 3,058 | 3,058 | 958 | ||
Unpaid Contractual Principal Balance, With no related allowance | 4,199 | 4,199 | 3,490 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 3,004 | 228 | 2,320 | 228 | |
Average Recorded Investment, With no related allowance | 3,886 | 1,274 | 2,494 | 4,095 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 40 | 2 | 115 | 5 | |
Interest Income Recognized during Impairment, With no related allowance | 49 | 109 | 149 | 324 | |
Real estate | Commercial | Mixed use | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 2,828 | 2,828 | 129 | ||
Recorded Investment, With no related allowance | 0 | 0 | 152 | ||
Related Allowance | 31 | 31 | 1 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 2,828 | 2,828 | 129 | ||
Unpaid Contractual Principal Balance, With no related allowance | 0 | 0 | 2,240 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 2,833 | 190 | 2,189 | 191 | |
Average Recorded Investment, With no related allowance | 36 | 104 | 56 | 2,701 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 40 | 2 | 115 | 5 | |
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | 0 | |
Real estate | Commercial | Industrial & warehouse | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 588 | 588 | 772 | ||
Recorded Investment, With no related allowance | 13,254 | 13,254 | 8,429 | ||
Related Allowance | 98 | 98 | 96 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 1,423 | 1,423 | 1,482 | ||
Unpaid Contractual Principal Balance, With no related allowance | 14,277 | 14,277 | 8,525 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 1,721 | 746 | 1,648 | 1,226 | |
Average Recorded Investment, With no related allowance | 12,209 | 8,390 | 11,364 | 8,738 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 6 | 0 | 22 | 0 | |
Interest Income Recognized during Impairment, With no related allowance | 86 | 68 | 249 | 191 | |
Real estate | Commercial | Industrial & warehouse | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 247 | 247 | 221 | ||
Recorded Investment, With no related allowance | 119 | 119 | 45 | ||
Related Allowance | 91 | 91 | 96 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 1,070 | 1,070 | 896 | ||
Unpaid Contractual Principal Balance, With no related allowance | 894 | 894 | 45 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 258 | 452 | 250 | 226 | |
Average Recorded Investment, With no related allowance | 119 | 60 | 287 | 63 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 1 | 0 | |
Interest Income Recognized during Impairment, With no related allowance | 0 | 1 | 0 | 2 | |
Real estate | Commercial | Other | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 4,725 | 4,725 | 4,397 | ||
Recorded Investment, With no related allowance | 12,111 | 12,111 | 20,282 | ||
Related Allowance | 21 | 21 | 1,109 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 5,128 | 5,128 | 4,401 | ||
Unpaid Contractual Principal Balance, With no related allowance | 13,261 | 13,261 | 24,412 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 4,322 | 4,572 | 5,608 | 13,534 | |
Average Recorded Investment, With no related allowance | 12,559 | 14,733 | 14,892 | 16,324 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 33 | 60 | 133 | 175 | |
Interest Income Recognized during Impairment, With no related allowance | 80 | 6 | 230 | 19 | |
Real estate | Commercial | Other | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 262 | 262 | 319 | ||
Recorded Investment, With no related allowance | 4,215 | 4,215 | 9,131 | ||
Related Allowance | 2 | 2 | 21 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 262 | 262 | 323 | ||
Unpaid Contractual Principal Balance, With no related allowance | 4,780 | 4,780 | 9,951 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 788 | 303 | 1,802 | 319 | |
Average Recorded Investment, With no related allowance | 4,364 | 3,806 | 5,574 | 4,205 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 3 | 4 | 10 | 11 | |
Interest Income Recognized during Impairment, With no related allowance | 63 | 46 | 181 | 116 | |
Real estate | Construction | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 0 | 0 | 0 | ||
Recorded Investment, With no related allowance | 0 | 0 | 1,300 | ||
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 | 1,441 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 0 | 0 | 0 | 0 | |
Average Recorded Investment, With no related allowance | 0 | 1,300 | 650 | 1,689 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | |
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | 0 | |
Real estate | Construction | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 0 | 0 | 0 | ||
Recorded Investment, With no related allowance | 0 | 0 | 0 | ||
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 | 0 | 0 | 0 | |
Average Recorded Investment, With no related allowance | 0 | 0 | 0 | 0 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | |
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | 0 | |
Commercial business | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 20,220 | 20,220 | 18,330 | ||
Recorded Investment, With no related allowance | 17,790 | 17,790 | 31,725 | ||
Related Allowance | 3,345 | 3,345 | 3,661 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 22,967 | 22,967 | 22,757 | ||
Unpaid Contractual Principal Balance, With no related allowance | 22,065 | 22,065 | 33,207 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 22,159 | 27,031 | 23,381 | 25,036 | |
Average Recorded Investment, With no related allowance | 20,320 | 11,544 | 19,262 | 10,417 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 138 | 261 | 408 | 749 | |
Interest Income Recognized during Impairment, With no related allowance | 129 | 0 | 360 | 0 | |
Commercial business | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 4,360 | 4,360 | 1,987 | ||
Recorded Investment, With no related allowance | 1,641 | 1,641 | 16,746 | ||
Related Allowance | 425 | 425 | 854 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 6,263 | 6,263 | 2,903 | ||
Unpaid Contractual Principal Balance, With no related allowance | 1,812 | 1,812 | 16,926 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 4,506 | 1,250 | 5,709 | 892 | |
Average Recorded Investment, With no related allowance | 6,894 | 1,835 | 5,405 | 1,014 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 41 | 9 | 121 | 24 | |
Interest Income Recognized during Impairment, With no related allowance | 27 | 47 | 65 | 142 | |
Trade finance | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 562 | 562 | 3,861 | ||
Recorded Investment, With no related allowance | 8,610 | 8,610 | 3,074 | ||
Related Allowance | 1 | 1 | 3 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 562 | 562 | 3,861 | ||
Unpaid Contractual Principal Balance, With no related allowance | 8,610 | 8,610 | 3,091 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 2,128 | 4,118 | 2,678 | 2,587 | |
Average Recorded Investment, With no related allowance | 5,785 | 1,765 | 4,503 | 2,975 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 2 | 58 | 4 | 215 | |
Interest Income Recognized during Impairment, With no related allowance | 120 | 0 | 354 | 0 | |
Trade finance | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 0 | 0 | 0 | ||
Recorded Investment, With no related allowance | 3,232 | 3,232 | 2,984 | ||
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 | 3,232 | 3,232 | 3,001 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 0 | 0 | 0 | 0 | |
Average Recorded Investment, With no related allowance | 3,097 | 1,692 | 3,136 | 846 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | |
Interest Income Recognized during Impairment, With no related allowance | 48 | 68 | 138 | 191 | |
Consumer and other | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 958 | 958 | 523 | ||
Recorded Investment, With no related allowance | 1,124 | 1,124 | 1,556 | ||
Related Allowance | 5 | 5 | 35 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 6 | 6 | 524 | ||
Unpaid Contractual Principal Balance, With no related allowance | 168 | 168 | 1,676 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 981 | 251 | 744 | 169 | |
Average Recorded Investment, With no related allowance | 1,541 | 1,305 | 1,569 | 1,147 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 6 | 1 | 12 | 3 | |
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | 0 | |
Consumer and other | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 148 | 148 | 0 | ||
Recorded Investment, With no related allowance | 1,103 | 1,103 | 1,171 | ||
Related Allowance | 1 | 1 | 0 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 0 | 0 | 0 | ||
Unpaid Contractual Principal Balance, With no related allowance | 146 | 146 | 1,291 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 150 | 0 | 75 | 0 | |
Average Recorded Investment, With no related allowance | 1,531 | 684 | 1,373 | 518 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 2 | 0 | 4 | 0 | |
Interest Income Recognized during Impairment, With no related allowance | 0 | $ 2 | 0 | $ 6 | |
WIthout charge-offs | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 33,421 | 33,421 | 28,614 | ||
Recorded Investment, With no related allowance | 65,072 | 65,072 | 77,533 | ||
With charge-offs | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 1,354 | 1,354 | 3,044 | ||
Recorded Investment, With no related allowance | $ 9,335 | $ 9,335 | $ 5,158 |
Loans Receivable and Allowanc_8
Loans Receivable and Allowance for Loan Losses - Past Due Financing Receivables (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | $ 56,299 | $ 46,775 |
Accruing loans past due 90 or more days | 401 | 407 |
Guaranteed portion of delinquent SBA loans excluded from Nonaccrual loans | 23,100 | 22,100 |
Past due loans | 62,300 | 43,948 |
30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 34,226 | 21,465 |
60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 6,181 | 4,150 |
90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 21,893 | 18,333 |
Legacy Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 46,131 | 28,235 |
Accruing loans past due 90 or more days | 401 | 407 |
Past due loans | 50,646 | 35,339 |
Legacy Loans | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 28,680 | 16,948 |
Legacy Loans | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 5,990 | 1,884 |
Legacy Loans | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 15,976 | 16,507 |
Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 10,168 | 18,540 |
Accruing loans past due 90 or more days | 0 | 0 |
Past due loans | 11,654 | 8,609 |
Acquired Loans | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 5,546 | 4,517 |
Acquired Loans | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 191 | 2,266 |
Acquired Loans | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 5,917 | 1,826 |
Residential | Legacy Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Accruing loans past due 90 or more days | 0 | 0 |
Residential | Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Legacy Loans | Retail | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 5,284 | 3,179 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Legacy Loans | Hotel & motel | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 6,783 | 3,931 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Legacy Loans | Gas station & car wash | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 132 | 590 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Legacy Loans | Mixed use | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 926 | 1,132 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Legacy Loans | Industrial & warehouse | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 6,266 | 3,403 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Legacy Loans | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 8,895 | 5,689 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Acquired Loans | Retail | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 916 | 638 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Acquired Loans | Hotel & motel | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 5,532 | 568 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Acquired Loans | Gas station & car wash | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 248 | 1 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Acquired Loans | Mixed use | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 0 | 152 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Acquired Loans | Industrial & warehouse | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 356 | 221 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Acquired Loans | Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 276 | 1,389 |
Accruing loans past due 90 or more days | 0 | 0 |
Construction | Legacy Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 0 | 1,300 |
Accruing loans past due 90 or more days | 0 | 0 |
Construction | Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial business | Legacy Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 16,953 | 8,540 |
Accruing loans past due 90 or more days | 0 | 0 |
Past due loans | 7,203 | 3,722 |
Commercial business | Legacy Loans | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 843 | 698 |
Commercial business | Legacy Loans | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 404 | 516 |
Commercial business | Legacy Loans | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 5,956 | 2,508 |
Commercial business | Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 1,737 | 14,560 |
Accruing loans past due 90 or more days | 0 | 0 |
Past due loans | 1,317 | 2,229 |
Commercial business | Acquired Loans | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 722 | 1,088 |
Commercial business | Acquired Loans | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 48 | 256 |
Commercial business | Acquired Loans | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 547 | 885 |
Trade finance | Legacy Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 429 | 0 |
Accruing loans past due 90 or more days | 0 | 0 |
Past due loans | 429 | 0 |
Trade finance | Legacy Loans | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Trade finance | Legacy Loans | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Trade finance | Legacy Loans | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 429 | 0 |
Trade finance | Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Accruing loans past due 90 or more days | 0 | 0 |
Past due loans | 0 | 0 |
Trade finance | Acquired Loans | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Trade finance | Acquired Loans | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Trade finance | Acquired Loans | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Consumer and other | Legacy Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 463 | 471 |
Accruing loans past due 90 or more days | 401 | 407 |
Consumer and other | Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual loans | 1,103 | 1,011 |
Accruing loans past due 90 or more days | 0 | 0 |
Consumer and other | Legacy Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 15,840 | 8,103 |
Consumer and other | Legacy Loans | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 15,315 | 7,512 |
Consumer and other | Legacy Loans | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 118 | 97 |
Consumer and other | Legacy Loans | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 407 | 494 |
Consumer and other | Acquired Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 432 | 1,408 |
Consumer and other | Acquired Loans | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 957 |
Consumer and other | Acquired Loans | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 270 |
Consumer and other | Acquired Loans | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 432 | 181 |
Real estate | Legacy Loans | Residential | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Legacy Loans | Residential | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Legacy Loans | Residential | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Legacy Loans | Residential | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Legacy Loans | Construction | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 5,125 | 1,300 |
Real estate | Legacy Loans | Construction | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 5,125 | 0 |
Real estate | Legacy Loans | Construction | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Legacy Loans | Construction | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 1,300 |
Real estate | Legacy Loans | Retail | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 2,187 | 3,524 |
Real estate | Legacy Loans | Retail | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 1,374 | 3,239 |
Real estate | Legacy Loans | Retail | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Legacy Loans | Retail | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 813 | 285 |
Real estate | Legacy Loans | Hotel & motel | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 10,030 | 5,691 |
Real estate | Legacy Loans | Hotel & motel | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 4,605 | 1,884 |
Real estate | Legacy Loans | Hotel & motel | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 1,852 | 1,172 |
Real estate | Legacy Loans | Hotel & motel | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 3,573 | 2,635 |
Real estate | Legacy Loans | Gas station & car wash | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 33 | 1,391 |
Real estate | Legacy Loans | Gas station & car wash | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 956 |
Real estate | Legacy Loans | Gas station & car wash | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Legacy Loans | Gas station & car wash | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 33 | 435 |
Real estate | Legacy Loans | Mixed use | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 574 | 1,081 |
Real estate | Legacy Loans | Mixed use | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 129 |
Real estate | Legacy Loans | Mixed use | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Legacy Loans | Mixed use | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 574 | 952 |
Real estate | Legacy Loans | Industrial & warehouse | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 3,030 | 3,693 |
Real estate | Legacy Loans | Industrial & warehouse | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 53 | 1,121 |
Real estate | Legacy Loans | Industrial & warehouse | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 1,055 | 99 |
Real estate | Legacy Loans | Industrial & warehouse | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 1,922 | 2,473 |
Real estate | Legacy Loans | Other | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 6,195 | 6,834 |
Real estate | Legacy Loans | Other | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 1,365 | 1,409 |
Real estate | Legacy Loans | Other | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 2,561 | 0 |
Real estate | Legacy Loans | Other | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 2,269 | 5,425 |
Real estate | Acquired Loans | Residential | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Residential | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Residential | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Residential | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Construction | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Construction | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Construction | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Construction | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Retail | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 2,209 | 683 |
Real estate | Acquired Loans | Retail | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 1,530 | 81 |
Real estate | Acquired Loans | Retail | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 216 |
Real estate | Acquired Loans | Retail | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 679 | 386 |
Real estate | Acquired Loans | Hotel & motel | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 3,919 | 1,219 |
Real estate | Acquired Loans | Hotel & motel | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Hotel & motel | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 1,219 |
Real estate | Acquired Loans | Hotel & motel | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 3,919 | 0 |
Real estate | Acquired Loans | Gas station & car wash | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 221 | 1,203 |
Real estate | Acquired Loans | Gas station & car wash | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 1,161 |
Real estate | Acquired Loans | Gas station & car wash | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 41 |
Real estate | Acquired Loans | Gas station & car wash | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 221 | 1 |
Real estate | Acquired Loans | Mixed use | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 303 |
Real estate | Acquired Loans | Mixed use | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 151 |
Real estate | Acquired Loans | Mixed use | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Mixed use | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 152 |
Real estate | Acquired Loans | Industrial & warehouse | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 262 | 1,289 |
Real estate | Acquired Loans | Industrial & warehouse | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 143 | 804 |
Real estate | Acquired Loans | Industrial & warehouse | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 0 | 264 |
Real estate | Acquired Loans | Industrial & warehouse | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 119 | 221 |
Real estate | Acquired Loans | Other | Commercial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 3,294 | 275 |
Real estate | Acquired Loans | Other | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 3,151 | 275 |
Real estate | Acquired Loans | Other | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | 143 | 0 |
Real estate | Acquired Loans | Other | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due loans | $ 0 | $ 0 |
Loans Receivable and Allowanc_9
Loans Receivable and Allowance for Loan Losses - Financing Receivable Credit Quality Indicators (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 11,927,905 | $ 11,102,857 |
Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,409,601 | 10,534,382 |
Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 215,586 | 214,891 |
Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 301,844 | 353,222 |
Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 874 | 362 |
Real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,639,857 | 8,508,222 |
Real estate | Residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 49,602 | 49,774 |
Real estate | Commercial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,307,213 | 8,142,036 |
Real estate | Construction | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 283,042 | 316,412 |
Commercial business | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,126,608 | 1,780,869 |
Trade finance | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 191,605 | 166,664 |
Consumer and other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 969,835 | 647,102 |
Legacy Loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,827,652 | 8,338,522 |
Legacy Loans | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,477,894 | 8,007,314 |
Legacy Loans | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 177,561 | 151,413 |
Legacy Loans | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 171,767 | 179,795 |
Legacy Loans | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 430 | 0 |
Legacy Loans | Real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 6,808,885 | 6,213,489 |
Legacy Loans | Real estate | Residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 35,867 | 36,143 |
Legacy Loans | Real estate | Residential | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 34,949 | 33,557 |
Legacy Loans | Real estate | Residential | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 1,147 |
Legacy Loans | Real estate | Residential | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 918 | 1,439 |
Legacy Loans | Real estate | Residential | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Real estate | Commercial | Retail | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,828,395 | 1,691,388 |
Legacy Loans | Real estate | Commercial | Retail | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,796,421 | 1,640,809 |
Legacy Loans | Real estate | Commercial | Retail | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 10,988 | 32,723 |
Legacy Loans | Real estate | Commercial | Retail | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 20,986 | 17,856 |
Legacy Loans | Real estate | Commercial | Retail | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Real estate | Commercial | Hotel & motel | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,356,949 | 1,252,832 |
Legacy Loans | Real estate | Commercial | Hotel & motel | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,319,042 | 1,224,597 |
Legacy Loans | Real estate | Commercial | Hotel & motel | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 23,480 | 19,358 |
Legacy Loans | Real estate | Commercial | Hotel & motel | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 14,426 | 8,877 |
Legacy Loans | Real estate | Commercial | Hotel & motel | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1 | 0 |
Legacy Loans | Real estate | Commercial | Gas station & car wash | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 792,018 | 747,088 |
Legacy Loans | Real estate | Commercial | Gas station & car wash | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 791,023 | 737,485 |
Legacy Loans | Real estate | Commercial | Gas station & car wash | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 461 | 9,013 |
Legacy Loans | Real estate | Commercial | Gas station & car wash | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 534 | 590 |
Legacy Loans | Real estate | Commercial | Gas station & car wash | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Real estate | Commercial | Mixed use | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 524,724 | 427,813 |
Legacy Loans | Real estate | Commercial | Mixed use | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 498,944 | 421,755 |
Legacy Loans | Real estate | Commercial | Mixed use | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 15,499 | 4,581 |
Legacy Loans | Real estate | Commercial | Mixed use | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 10,281 | 1,477 |
Legacy Loans | Real estate | Commercial | Mixed use | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Real estate | Commercial | Industrial & warehouse | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 691,468 | 618,377 |
Legacy Loans | Real estate | Commercial | Industrial & warehouse | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 649,074 | 577,344 |
Legacy Loans | Real estate | Commercial | Industrial & warehouse | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 10,137 | 16,716 |
Legacy Loans | Real estate | Commercial | Industrial & warehouse | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 32,257 | 24,317 |
Legacy Loans | Real estate | Commercial | Industrial & warehouse | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Real estate | Commercial | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,367,901 | 1,217,213 |
Legacy Loans | Real estate | Commercial | Other | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,288,683 | 1,133,188 |
Legacy Loans | Real estate | Commercial | Other | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 54,357 | 30,030 |
Legacy Loans | Real estate | Commercial | Other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 24,861 | 53,995 |
Legacy Loans | Real estate | Commercial | Other | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Real estate | Construction | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 211,563 | 222,635 |
Legacy Loans | Real estate | Construction | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 194,187 | 219,583 |
Legacy Loans | Real estate | Construction | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 10,600 | 0 |
Legacy Loans | Real estate | Construction | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 6,776 | 3,052 |
Legacy Loans | Real estate | Construction | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Commercial business | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,006,451 | 1,490,595 |
Legacy Loans | Commercial business | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,903,115 | 1,389,043 |
Legacy Loans | Commercial business | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 47,199 | 35,640 |
Legacy Loans | Commercial business | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 56,137 | 65,912 |
Legacy Loans | Commercial business | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Trade finance | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 188,373 | 156,155 |
Legacy Loans | Trade finance | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 179,459 | 152,583 |
Legacy Loans | Trade finance | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,725 | 2,200 |
Legacy Loans | Trade finance | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,760 | 1,372 |
Legacy Loans | Trade finance | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 429 | 0 |
Legacy Loans | Consumer and other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 823,943 | 478,283 |
Legacy Loans | Consumer and other | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 822,997 | 477,370 |
Legacy Loans | Consumer and other | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 115 | 5 |
Legacy Loans | Consumer and other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 831 | 908 |
Legacy Loans | Consumer and other | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,100,253 | 2,764,335 |
Acquired Loans | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,931,707 | 2,527,068 |
Acquired Loans | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 38,025 | 63,478 |
Acquired Loans | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 130,077 | 173,427 |
Acquired Loans | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 444 | 362 |
Acquired Loans | Real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,830,972 | 2,294,733 |
Acquired Loans | Real estate | Residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 13,735 | 13,631 |
Acquired Loans | Real estate | Residential | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 13,258 | 13,369 |
Acquired Loans | Real estate | Residential | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 396 | 262 |
Acquired Loans | Real estate | Residential | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 81 | 0 |
Acquired Loans | Real estate | Residential | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Real estate | Commercial | Retail | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 550,869 | 658,273 |
Acquired Loans | Real estate | Commercial | Retail | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 527,433 | 630,555 |
Acquired Loans | Real estate | Commercial | Retail | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 5,623 | 6,921 |
Acquired Loans | Real estate | Commercial | Retail | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 17,813 | 20,797 |
Acquired Loans | Real estate | Commercial | Retail | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Real estate | Commercial | Hotel & motel | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 220,128 | 304,425 |
Acquired Loans | Real estate | Commercial | Hotel & motel | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 200,884 | 275,191 |
Acquired Loans | Real estate | Commercial | Hotel & motel | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 305 | 4,247 |
Acquired Loans | Real estate | Commercial | Hotel & motel | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 18,939 | 24,987 |
Acquired Loans | Real estate | Commercial | Hotel & motel | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Real estate | Commercial | Gas station & car wash | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 166,211 | 205,927 |
Acquired Loans | Real estate | Commercial | Gas station & car wash | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 157,845 | 194,063 |
Acquired Loans | Real estate | Commercial | Gas station & car wash | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 275 | 2,872 |
Acquired Loans | Real estate | Commercial | Gas station & car wash | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,091 | 8,992 |
Acquired Loans | Real estate | Commercial | Gas station & car wash | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Real estate | Commercial | Mixed use | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 95,109 | 115,327 |
Acquired Loans | Real estate | Commercial | Mixed use | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 80,845 | 94,864 |
Acquired Loans | Real estate | Commercial | Mixed use | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,847 | 5,725 |
Acquired Loans | Real estate | Commercial | Mixed use | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,417 | 14,738 |
Acquired Loans | Real estate | Commercial | Mixed use | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Real estate | Commercial | Industrial & warehouse | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 223,383 | 281,645 |
Acquired Loans | Real estate | Commercial | Industrial & warehouse | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 197,537 | 250,049 |
Acquired Loans | Real estate | Commercial | Industrial & warehouse | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,907 | 14,973 |
Acquired Loans | Real estate | Commercial | Industrial & warehouse | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 20,706 | 16,358 |
Acquired Loans | Real estate | Commercial | Industrial & warehouse | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 233 | 265 |
Acquired Loans | Real estate | Commercial | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 490,058 | 621,728 |
Acquired Loans | Real estate | Commercial | Other | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 450,400 | 568,545 |
Acquired Loans | Real estate | Commercial | Other | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 13,077 | 19,848 |
Acquired Loans | Real estate | Commercial | Other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 26,581 | 33,335 |
Acquired Loans | Real estate | Commercial | Other | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Real estate | Construction | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 71,479 | 93,777 |
Acquired Loans | Real estate | Construction | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 64,316 | 93,777 |
Acquired Loans | Real estate | Construction | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 7,163 | 0 |
Acquired Loans | Real estate | Construction | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Real estate | Construction | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Commercial business | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 120,157 | 290,274 |
Acquired Loans | Commercial business | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 98,002 | 236,705 |
Acquired Loans | Commercial business | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,392 | 8,593 |
Acquired Loans | Commercial business | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 20,698 | 44,964 |
Acquired Loans | Commercial business | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 65 | 12 |
Acquired Loans | Trade finance | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,232 | 10,509 |
Acquired Loans | Trade finance | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 7,455 |
Acquired Loans | Trade finance | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Trade finance | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,232 | 3,054 |
Acquired Loans | Trade finance | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Consumer and other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 145,892 | 168,819 |
Acquired Loans | Consumer and other | Pass/Not Rated | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 141,187 | 162,495 |
Acquired Loans | Consumer and other | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 40 | 37 |
Acquired Loans | Consumer and other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,519 | 6,202 |
Acquired Loans | Consumer and other | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 146 | $ 85 |
Loans Receivable and Allowan_10
Loans Receivable and Allowance for Loan Losses - Loans Held For Investment - Reclassification to Held for Sale (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Sale or reclassification to held for sale | $ 525 | $ 0 | $ 6,680 | $ 429 |
Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Sale or reclassification to held for sale | 0 | 0 | 0 | 429 |
Consumer and other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Sale or reclassification to held for sale | $ 525 | $ 0 | $ 6,680 | $ 0 |
Loans Receivable and Allowan_11
Loans Receivable and Allowance for Loan Losses - Allowance for Loans, by Portfolio Segment and Impairment Method (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (recorded investment) | $ 109,182 | $ 114,349 | ||||
Specific allowance | $ 4,019 | $ 5,323 | ||||
Specific allowance to impaired loans | 3.68% | 4.66% | ||||
Other loans | $ 11,818,723 | $ 10,988,508 | ||||
General allowance | $ 86,610 | $ 79,218 | ||||
General allowance to other loans | 0.73% | 0.72% | ||||
Total loans | $ 11,927,905 | $ 11,102,857 | ||||
Total allowance for loan losses | $ 90,629 | $ 89,881 | $ 84,541 | $ 83,633 | $ 80,074 | $ 79,343 |
Total allowance to total loans | 0.76% | 0.76% | ||||
Real estate | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | $ 8,639,857 | $ 8,508,222 | ||||
Real estate | Residential | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (recorded investment) | 0 | 0 | ||||
Specific allowance | 0 | 0 | ||||
Other loans | 49,602 | 49,774 | ||||
General allowance | $ 55 | $ 88 | ||||
General allowance to other loans | 0.11% | 0.18% | ||||
Total loans | $ 49,602 | $ 49,774 | ||||
Total allowance for loan losses | $ 55 | $ 88 | ||||
Total allowance to total loans | 0.11% | 0.18% | ||||
Real estate | Commercial | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (recorded investment) | $ 59,918 | $ 53,980 | ||||
Specific allowance | $ 668 | $ 1,624 | ||||
Specific allowance to impaired loans | 1.11% | 3.01% | ||||
Other loans | $ 8,247,295 | $ 8,088,056 | ||||
General allowance | $ 60,990 | $ 56,040 | ||||
General allowance to other loans | 0.74% | 0.69% | ||||
Total loans | $ 8,307,213 | $ 8,142,036 | ||||
Total allowance for loan losses | $ 61,658 | $ 57,664 | ||||
Total allowance to total loans | 0.74% | 0.71% | ||||
Real estate | Construction | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (recorded investment) | $ 0 | $ 1,300 | ||||
Specific allowance | 0 | 0 | ||||
Other loans | 283,042 | 315,112 | ||||
General allowance | $ 615 | $ 930 | ||||
General allowance to other loans | 0.22% | 0.30% | ||||
Total loans | $ 283,042 | $ 316,412 | ||||
Total allowance for loan losses | $ 615 | $ 930 | ||||
Total allowance to total loans | 0.22% | 0.29% | ||||
Commercial business | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (recorded investment) | $ 38,010 | $ 50,055 | ||||
Specific allowance | $ 3,345 | $ 3,661 | ||||
Specific allowance to impaired loans | 8.80% | 7.31% | ||||
Other loans | $ 2,088,598 | $ 1,730,814 | ||||
General allowance | $ 18,603 | $ 17,094 | ||||
General allowance to other loans | 0.89% | 0.99% | ||||
Total loans | $ 2,126,608 | $ 1,780,869 | ||||
Total allowance for loan losses | $ 21,948 | $ 20,755 | ||||
Total allowance to total loans | 1.03% | 1.17% | ||||
Trade finance | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (recorded investment) | $ 9,172 | $ 6,935 | ||||
Specific allowance | $ 1 | $ 3 | ||||
Specific allowance to impaired loans | 0.01% | 0.04% | ||||
Other loans | $ 182,433 | $ 159,729 | ||||
General allowance | $ 840 | $ 1,713 | ||||
General allowance to other loans | 0.46% | 1.07% | ||||
Total loans | $ 191,605 | $ 166,664 | ||||
Total allowance for loan losses | $ 841 | $ 1,716 | ||||
Total allowance to total loans | 0.44% | 1.03% | ||||
Consumer and other | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (recorded investment) | $ 2,082 | $ 2,079 | ||||
Specific allowance | $ 5 | $ 35 | ||||
Specific allowance to impaired loans | 0.24% | 1.68% | ||||
Other loans | $ 967,753 | $ 645,023 | ||||
General allowance | $ 5,507 | $ 3,353 | ||||
General allowance to other loans | 0.57% | 0.52% | ||||
Total loans | $ 969,835 | $ 647,102 | ||||
Total allowance for loan losses | $ 5,512 | $ 3,388 | ||||
Total allowance to total loans | 0.57% | 0.52% |
Loans Receivable and Allowan_12
Loans Receivable and Allowance for Loan Losses - Troubled Debt Restructurings on Financing Receivables (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018USD ($)loan | Sep. 30, 2017USD ($)loan | Sep. 30, 2018USD ($)loan | Sep. 30, 2017USD ($)loan | Dec. 31, 2017USD ($)loan | |
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | $ 73,706 | $ 73,706 | $ 78,490 | ||
Number of modified contracts | loan | 11 | 16 | 31 | 25 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 6,088 | $ 14,754 | $ 19,711 | $ 22,707 | |
Post-Modification | $ 6,088 | $ 14,887 | $ 19,711 | $ 22,171 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 2 | 2 | 4 | 2 | |
Balance | $ 2,245 | $ 827 | $ 2,498 | $ 827 | |
Minimum | |||||
Financing Receivable, Modifications [Line Items] | |||||
Temporary modifications, period of interest only payments | 3 months | ||||
Maximum | |||||
Financing Receivable, Modifications [Line Items] | |||||
Temporary modifications, period of interest only payments | 6 months | ||||
Legacy Loans | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 6 | 8 | 23 | 14 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 5,395 | $ 5,873 | $ 15,050 | $ 13,405 | |
Post-Modification | $ 5,395 | $ 5,205 | $ 15,050 | $ 12,118 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 2 | 2 | 4 | 2 | |
Balance | $ 2,245 | $ 827 | $ 2,498 | $ 827 | |
Acquired Loans | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 5 | 8 | 8 | 11 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 693 | $ 8,881 | $ 4,661 | $ 9,302 | |
Post-Modification | $ 693 | $ 9,682 | $ 4,661 | $ 10,053 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Payment concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 15,536 | 15,536 | 26,167 | ||
Maturity / amortization concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 51,374 | 51,374 | 44,692 | ||
Rate concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 6,796 | 6,796 | 7,631 | ||
TDR on accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 52,521 | 52,521 | 67,250 | ||
TDR on accrual | Payment concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 9,057 | 9,057 | 22,926 | ||
TDR on accrual | Maturity / amortization concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 37,657 | 37,657 | 37,794 | ||
TDR on accrual | Rate concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 5,807 | 5,807 | 6,530 | ||
TDR on non-accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 21,185 | 21,185 | 11,240 | ||
TDR on non-accrual | Payment concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 6,479 | 6,479 | 3,241 | ||
TDR on non-accrual | Maturity / amortization concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 13,717 | 13,717 | 6,898 | ||
TDR on non-accrual | Rate concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | $ 989 | $ 989 | 1,101 | ||
Commercial | TDR on accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | $ 32,800 | ||||
Number of modified contracts | loan | 20 | 24 | |||
Real estate | Legacy Loans | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Real estate | Legacy Loans | Residential Real Estate | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Real estate | Legacy Loans | Retail | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 1 | 2 | 2 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 464 | $ 54 | $ 1,123 | |
Post-Modification | $ 0 | $ 452 | $ 54 | $ 1,091 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Real estate | Legacy Loans | Hotel & motel | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 1 | 0 | 1 | 0 | |
Balance | $ 1,019 | $ 0 | $ 53 | $ 0 | |
Real estate | Legacy Loans | Gas station & car wash | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 1 | 0 | |
Balance | $ 0 | $ 0 | $ 1,019 | $ 0 | |
Real estate | Legacy Loans | Mixed use | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Real estate | Legacy Loans | Industrial & warehouse | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 1 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 2,078 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 2,078 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Real estate | Legacy Loans | Other | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 1 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 1,226 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 1,226 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 1 | 0 | 1 | 0 | |
Balance | $ 1,226 | $ 0 | $ 1,226 | $ 0 | |
Real estate | Acquired Loans | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Real estate | Acquired Loans | Residential Real Estate | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 1 | 0 | 1 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 614 | $ 0 | $ 614 | |
Post-Modification | $ 0 | $ 498 | $ 0 | $ 498 | |
Real estate | Acquired Loans | Retail | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 2 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 221 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 218 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Real estate | Acquired Loans | Hotel & motel | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 1 | 0 | 1 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 73 | $ 0 | $ 73 | $ 0 | |
Post-Modification | $ 73 | $ 0 | $ 73 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Real estate | Acquired Loans | Gas station & car wash | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Real estate | Acquired Loans | Mixed use | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 1 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 2,704 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 2,704 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Real estate | Acquired Loans | Industrial & warehouse | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 1 | 0 | 1 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 237 | $ 0 | $ 237 | $ 0 | |
Post-Modification | $ 237 | $ 0 | $ 237 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Real estate | Acquired Loans | Other | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 1 | 0 | 1 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 851 | $ 0 | $ 851 | |
Post-Modification | $ 0 | $ 2,265 | $ 0 | $ 2,265 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Real estate | Payment concession | Legacy Loans | |||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 2 | 2 | |||
Balance | $ 1,100 | $ 1,100 | |||
Real estate | Maturity / amortization concession | Legacy Loans | |||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 1 | 1 | |||
Balance | $ 1,200 | $ 1,200 | |||
Real estate | Commercial | TDR on accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 23,990 | 23,990 | $ 32,762 | ||
Real estate | Commercial | TDR on accrual | Payment concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 8,067 | 8,067 | 22,550 | ||
Real estate | Commercial | TDR on accrual | Maturity / amortization concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 11,004 | 11,004 | 4,768 | ||
Real estate | Commercial | TDR on accrual | Rate concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 4,919 | 4,919 | 5,444 | ||
Real estate | Commercial | TDR on non-accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 6,651 | 6,651 | 5,690 | ||
Real estate | Commercial | TDR on non-accrual | Payment concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 5,662 | 5,662 | 3,071 | ||
Real estate | Commercial | TDR on non-accrual | Maturity / amortization concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 0 | 0 | 1,536 | ||
Real estate | Commercial | TDR on non-accrual | Rate concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | $ 989 | $ 989 | 1,083 | ||
Commercial business | Legacy Loans | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 5 | 7 | 17 | 12 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 4,497 | $ 5,409 | $ 10,727 | $ 12,282 | |
Post-Modification | $ 4,497 | $ 4,753 | $ 10,727 | $ 11,027 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 2 | 1 | 2 | |
Balance | $ 0 | $ 827 | $ 200 | $ 827 | |
Commercial business | Acquired Loans | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 3 | 5 | 5 | 6 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 383 | $ 4,478 | $ 1,647 | $ 4,678 | |
Post-Modification | $ 383 | $ 3,535 | $ 1,647 | $ 3,688 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Commercial business | Maturity / amortization concession | Legacy Loans | |||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 1 | 2 | 1 | 2 | |
Balance | $ 200 | $ 200 | $ 827 | ||
Commercial business | TDR on accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 19,272 | $ 19,272 | $ 26,956 | ||
Number of modified contracts | loan | 36 | 27 | |||
Commercial business | TDR on accrual | Payment concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 990 | $ 990 | $ 376 | ||
Commercial business | TDR on accrual | Maturity / amortization concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 17,527 | 17,527 | 25,584 | ||
Commercial business | TDR on accrual | Rate concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 755 | 755 | 996 | ||
Commercial business | TDR on non-accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 14,349 | 14,349 | 5,452 | ||
Commercial business | TDR on non-accrual | Payment concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 817 | 817 | 170 | ||
Commercial business | TDR on non-accrual | Maturity / amortization concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 13,532 | 13,532 | 5,264 | ||
Commercial business | TDR on non-accrual | Rate concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | $ 0 | $ 0 | 18 | ||
Trade finance | Legacy Loans | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 1 | 0 | 1 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 898 | $ 0 | $ 898 | $ 0 | |
Post-Modification | $ 898 | $ 0 | $ 898 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Trade finance | Acquired Loans | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 1 | 0 | 1 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 2,938 | $ 0 | $ 2,938 | |
Post-Modification | $ 0 | $ 3,384 | $ 0 | $ 3,384 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Other | TDR on accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 9,259 | 9,259 | 7,532 | ||
Other | TDR on accrual | Payment concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 0 | 0 | 0 | ||
Other | TDR on accrual | Maturity / amortization concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 9,126 | 9,126 | 7,442 | ||
Other | TDR on accrual | Rate concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 133 | 133 | 90 | ||
Other | TDR on non-accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 185 | 185 | 98 | ||
Other | TDR on non-accrual | Payment concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 0 | 0 | 0 | ||
Other | TDR on non-accrual | Maturity / amortization concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 185 | 185 | 98 | ||
Other | TDR on non-accrual | Rate concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | $ 0 | $ 0 | 0 | ||
Consumer and other | Legacy Loans | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 1 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 67 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 67 | $ 0 | |
Consumer and other | Acquired Loans | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | 0 | $ 0 | 0 | $ 0 | |
Consumer and other | TDR on accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | $ 9,300 | $ 9,300 | $ 7,500 | ||
Number of modified contracts | loan | 7 | 7 | |||
Consumer and other | Legacy Loans | |||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Consumer and other | Acquired Loans | |||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Deposits (Details)
Deposits (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Deposits Disclosure [Line Items] | ||
Time Deposits, $250,000 or More | $ 1,660,000,000 | $ 1,280,000,000 |
Securities pledged as collateral | 0 | |
California State Treasurer | ||
Deposits Disclosure [Line Items] | ||
Time Deposits, $250,000 or More | 300,000,000 | 300,000,000 |
Securities pledged as collateral | 335,600,000 | 337,700,000 |
Brokered deposits | 1,400,000,000 | 797,000,000 |
Money market and NOW accounts | California State Treasurer | ||
Deposits Disclosure [Line Items] | ||
Brokered deposits | 298,300,000 | 258,500,000 |
Time deposits | California State Treasurer | ||
Deposits Disclosure [Line Items] | ||
Brokered deposits | $ 1,100,000,000 | $ 538,500,000 |
Borrowings - Narrative (Details
Borrowings - Narrative (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Debt Instrument [Line Items] | ||
Percent of assets | 25.00% | |
Maximum borrowing capacity | $ 3,720,000,000 | $ 3,540,000,000 |
Percent outstanding advances | 100.00% | |
FHLB advances | $ 836,637,000 | 1,160,000,000 |
Unused funds | 2,870,000,000 | |
Federal funds purchased | $ 0 | $ 69,900,000 |
Percent of qualifying assets | 95.00% | |
Securities pledged as collateral | $ 0 | |
Weighted Average | ||
Debt Instrument [Line Items] | ||
FHLB advances, interest rate | 1.76% | 1.63% |
Minimum | ||
Debt Instrument [Line Items] | ||
FHLB advances, interest rate | 1.06% | |
Maximum | ||
Debt Instrument [Line Items] | ||
FHLB advances, interest rate | 2.39% | |
Mortgage Loans on Real Estate | ||
Debt Instrument [Line Items] | ||
Pledged as collateral | $ 5,930,000,000 | $ 4,910,000,000 |
Qualifying Loans | ||
Debt Instrument [Line Items] | ||
Asset balance used to determine maximum borrowing capacity from federal reserve bank | 984,700,000 | |
Securities Investment | ||
Debt Instrument [Line Items] | ||
Total available borrowing capacity | 784,500,000 | 564,600,000 |
Amount outstanding | $ 0 | $ 0 |
Borrowings - Maturities of FHLB
Borrowings - Maturities of FHLB Borrowings (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Debt Disclosure [Abstract] | ||
2,018 | $ 40,000 | |
2,019 | 320,000 | |
2,020 | 185,000 | |
2,021 | 145,000 | |
2022 and thereafter | 145,000 | |
Premium on acquired advances - no maturity | 1,637 | |
Total | $ 836,637 | $ 1,160,000 |
Subordinated Debentures and C_3
Subordinated Debentures and Convertible Notes - Narrative (Details) | Jun. 07, 2018USD ($)$ / shares | Apr. 26, 2018USD ($) | Sep. 30, 2018USD ($)grantor_trust | Sep. 30, 2018USD ($)grantor_trust$ / sharesshares | Sep. 30, 2017USD ($) | Jun. 30, 2018USD ($) | May 11, 2018USD ($) |
Subordinated Borrowing [Line Items] | |||||||
Number of wholly owned subsidiary grantor trusts | grantor_trust | 9 | 9 | |||||
Amount of pooled trust preferred securities issued | $ 126,000,000 | $ 126,000,000 | |||||
Right to defer consecutive payments of interest, maximum term | 5 years | ||||||
Proceeds from convertible notes, net of issuance fees | $ 212,920,000 | $ 0 | |||||
Repurchase of treasury stock | $ 100,000,000 | ||||||
Common stock repurchased and recorded as treasury stock (in shares) | shares | 5,565,696 | ||||||
Weighted average price of repurchased shares (in dollars per share) | $ / shares | $ 17.9598 | ||||||
Other assets | |||||||
Subordinated Borrowing [Line Items] | |||||||
Investment in common trust securities | 3,900,000 | $ 3,900,000 | |||||
Trust Preferred Securities Subject to Mandatory Redemption | |||||||
Subordinated Borrowing [Line Items] | |||||||
Amount of pooled trust preferred securities issued | 126,000,000 | 126,000,000 | |||||
Convertible Notes | |||||||
Subordinated Borrowing [Line Items] | |||||||
Aggregate principal amount issued | $ 217,500,000 | $ 217,500,000 | $ 217,500,000 | $ 200,000,000 | |||
Interest rate | 2.00% | ||||||
Additional face amount issued as part of initial offering over-allotment option | $ 17,500,000 | ||||||
Initial conversion rate | 0.0450760 | 0.0450760 | |||||
Initial conversion price (in dollars per share) | $ / shares | $ 22.18 | ||||||
Premium percentage to closing stock price on date of pricing of the notes | 22.50% | ||||||
Call option, percentage of principal amount in cash | 100.00% | ||||||
Repurchase or put option, percentage of principal amount in cash | 100.00% | ||||||
Amount of proceeds from convertible notes authorized for repurchase of common stock | $ 100,000,000 | $ 100,000,000 | |||||
Proceeds from convertible notes, net of issuance fees | 213,200,000 | ||||||
Proceeds down-streamed to the Bank as equity | 113,200,000 | ||||||
Repurchase of treasury stock | $ 76,000,000 | ||||||
Closing price of common stock (in dollars per share) | $ / shares | $ 18.11 | ||||||
Discount rate | 4.25% | ||||||
Amortization/ Capitalization Period | 5 years | 5 years | |||||
Interest expense on convertible notes | $ 2,300,000 | $ 3,500,000 |
Subordinated Debentures and C_4
Subordinated Debentures and Convertible Notes - Summary of Trust Preferred Securities and Debentures (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 126,000,000 | |
Carrying Value of Debentures | 101,657,000 | $ 100,853,000 |
Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | 126,000,000 | |
Carrying Value of Debentures | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Debentures | $ 101,657,000 | |
Nara Capital Trust III | ||
Subordinated Borrowing [Line Items] | ||
Current Rate | 5.48% | |
Nara Capital Trust III | Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 5,000,000 | |
Nara Capital Trust III | Carrying Value of Debentures | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Debentures | $ 5,155,000 | |
Nara Statutory Trust IV | ||
Subordinated Borrowing [Line Items] | ||
Current Rate | 5.19% | |
Nara Statutory Trust IV | Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 5,000,000 | |
Nara Statutory Trust IV | Carrying Value of Debentures | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Debentures | $ 5,155,000 | |
Nara Statutory Trust V | ||
Subordinated Borrowing [Line Items] | ||
Current Rate | 5.28% | |
Nara Statutory Trust V | Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 10,000,000 | |
Nara Statutory Trust V | Carrying Value of Debentures | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Debentures | $ 10,310,000 | |
Nara Statutory Trust VI | ||
Subordinated Borrowing [Line Items] | ||
Current Rate | 3.98% | |
Nara Statutory Trust VI | Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 8,000,000 | |
Nara Statutory Trust VI | Carrying Value of Debentures | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Debentures | $ 8,248,000 | |
Center Capital Trust I | ||
Subordinated Borrowing [Line Items] | ||
Current Rate | 5.19% | |
Center Capital Trust I | Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 18,000,000 | |
Center Capital Trust I | Carrying Value of Debentures | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Debentures | $ 13,975,000 | |
Wilshire Trust II | ||
Subordinated Borrowing [Line Items] | ||
Current Rate | 4.12% | |
Wilshire Trust II | Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 20,000,000 | |
Wilshire Trust II | Carrying Value of Debentures | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Debentures | $ 15,472,000 | |
Wilshire Trust III | ||
Subordinated Borrowing [Line Items] | ||
Current Rate | 3.73% | |
Wilshire Trust III | Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 15,000,000 | |
Wilshire Trust III | Carrying Value of Debentures | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Debentures | $ 10,903,000 | |
Wilshire Trust IV | ||
Subordinated Borrowing [Line Items] | ||
Current Rate | 3.71% | |
Wilshire Trust IV | Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 25,000,000 | |
Wilshire Trust IV | Carrying Value of Debentures | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Debentures | $ 17,688,000 | |
Saehan Capital Trust I | ||
Subordinated Borrowing [Line Items] | ||
Current Rate | 4.02% | |
Saehan Capital Trust I | Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 20,000,000 | |
Saehan Capital Trust I | Carrying Value of Debentures | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Debentures | $ 14,751,000 |
Subordinated Debentures and C_5
Subordinated Debentures and Convertible Notes - Schedule of Convertible Debt (Details) - Convertible Notes - USD ($) $ in Thousands | Jun. 07, 2018 | Sep. 30, 2018 |
Debt Instrument [Line Items] | ||
Amortization/ Capitalization Period | 5 years | 5 years |
Gross Carrying Amount | ||
Convertible notes principal balance | $ 217,500 | |
Discount | (21,880) | |
Issuance costs to be capitalized | (4,119) | |
Carrying balance of convertible notes | 191,501 | |
Accumulated Amortization / Capitalization | ||
Discount | 1,531 | |
Issuance costs to be capitalized | 300 | |
Carrying balance of convertible notes | 1,831 | |
Carrying Amount | ||
Convertible notes principal balance | 217,500 | |
Discount | (20,349) | |
Issuance costs to be capitalized | (3,819) | |
Carrying balance of convertible notes | $ 193,332 |
Derivative Financial Instrume_3
Derivative Financial Instruments (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Weighted average remaining term | 6 years 6 months 11 days | 7 years 3 months 18 days |
Interest rate swaps | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount, derivative asset | $ 301,852 | $ 274,156 |
Notional amount, derivative liability | 301,852 | 274,156 |
Interest rate lock commitments | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount, derivative asset | 7,964 | 4,795 |
Notional amount, derivative liability | 1,241 | 0 |
Notional amount | $ 9,206 | $ 4,795 |
Customers | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Received fixed rate (weighted average) | 4.43% | 4.34% |
Pay variable rate (weighted average) | 4.43% | 3.74% |
Estimated fair value | $ 12,685 | $ 2,838 |
Correspondent Banks | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Received fixed rate (weighted average) | 4.43% | 4.34% |
Pay variable rate (weighted average) | 4.43% | 3.74% |
Estimated fair value | $ (12,685) | $ (2,838) |
Derivative Financial Instrume_4
Derivative Financial Instruments - Summary of Derivative Notional Amounts and Fair Values (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Interest rate lock commitments | ||
Derivative [Line Items] | ||
Notional amount, derivative asset | $ 7,964 | $ 4,795 |
Fair value, derivative asset | 40 | 25 |
Notional amount, derivative liability | 1,241 | 0 |
Fair value, derivative liability | (2) | 0 |
Forward sale contracts related to mortgage banking | Short | ||
Derivative [Line Items] | ||
Notional amount, derivative asset | 4,331 | 2,452 |
Fair value, derivative asset | 14 | 8 |
Notional amount, derivative liability | 8,871 | 2,343 |
Fair value, derivative liability | $ (9) | $ 5 |
Commitments and contingencies_2
Commitments and contingencies (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Supply Commitment [Line Items] | ||
Operating lease commitments | $ 67,246 | $ 66,698 |
Loss contingencies for all legal claims | 500 | 414 |
Interest rate lock commitments | ||
Supply Commitment [Line Items] | ||
Notional amount | 9,206 | 4,795 |
Short | Forward sale commitments | ||
Supply Commitment [Line Items] | ||
Notional amount | 9,206 | 4,795 |
Commitments to extend credit | ||
Supply Commitment [Line Items] | ||
Commitments and letters of credit | 1,733,485 | 1,526,981 |
Standby letters of credit | ||
Supply Commitment [Line Items] | ||
Commitments and letters of credit | 71,814 | 74,748 |
Other letters of credit | ||
Supply Commitment [Line Items] | ||
Commitments and letters of credit | 75,406 | 74,147 |
Commitments to fund investments in affordable housing partnerships | ||
Supply Commitment [Line Items] | ||
Commitments and letters of credit | $ 57,701 | $ 38,467 |
Goodwill, Intangible Assets, _3
Goodwill, Intangible Assets, and Servicing Assets - Intangible Assets (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | |||||
Goodwill | $ 464,450,000 | $ 464,450,000 | $ 464,450,000 | ||
Goodwill impairment | 0 | 0 | |||
Gross Carrying Amount | 25,605,000 | 25,605,000 | |||
Accumulated Amortization | (10,928,000) | (10,928,000) | |||
Carrying Amount | 14,677,000 | 14,677,000 | |||
Core Deposits | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Amortization expense related to core deposit intangible assets | 615,000 | $ 676,000 | $ 1,800,000 | $ 2,000,000 | |
Center Financial acquisition | Core Deposits | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Amortization Period | 7 years | ||||
Gross Carrying Amount | 4,100,000 | $ 4,100,000 | |||
Accumulated Amortization | (4,066,000) | (4,066,000) | |||
Carrying Amount | 34,000 | $ 34,000 | |||
Pacific International Bank acquisition | Core Deposits | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Amortization Period | 7 years | ||||
Gross Carrying Amount | 604,000 | $ 604,000 | |||
Accumulated Amortization | (567,000) | (567,000) | |||
Carrying Amount | 37,000 | $ 37,000 | |||
Foster Bankshares acquisition | Core Deposits | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Amortization Period | 10 years | ||||
Gross Carrying Amount | 2,763,000 | $ 2,763,000 | |||
Accumulated Amortization | (1,829,000) | (1,829,000) | |||
Carrying Amount | 934,000 | $ 934,000 | |||
Wilshire Bancorp acquisition | Core Deposits | |||||
Finite-Lived Intangible Assets [Line Items] | |||||
Amortization Period | 10 years | ||||
Gross Carrying Amount | 18,138,000 | $ 18,138,000 | |||
Accumulated Amortization | (4,466,000) | (4,466,000) | |||
Carrying Amount | $ 13,672,000 | $ 13,672,000 | |||
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 |
Goodwill, Intangible Assets, _4
Goodwill, Intangible Assets, and Servicing Assets - Servicing Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Balance at beginning of period | $ 25,050 | $ 25,338 | $ 24,710 | $ 26,457 | $ 26,457 |
Additions through originations of servicing assets | 1,503 | 1,484 | 4,819 | 4,096 | |
Amortization | (2,199) | (1,743) | (5,845) | (5,474) | |
Adjustments | 0 | 0 | 670 | 0 | |
Balance at end of period | 24,354 | $ 25,079 | 24,354 | $ 25,079 | 24,710 |
Principal balances of loans serviced for other institutions | $ 1,560,000 | $ 1,560,000 | $ 1,510,000 | ||
SBA Servicing Assets: Weighted-average discount rate | 10.42% | 11.13% | |||
SBA Servicing Assets: Constant prepayment rate | 10.57% | 8.38% | |||
Mortgage Servicing Assets: Weighted-average discount rate | 10.38% | 9.63% | |||
Mortgage Servicing Assets: Constant prepayment rate | 6.51% | 9.05% |
Income Taxes Narrative (Details
Income Taxes Narrative (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||||
Income tax provision | $ 15,461,000 | $ 27,708,000 | $ 49,823,000 | $ 76,158,000 | |
Pretax income | $ 61,839,000 | $ 72,272,000 | $ 194,963,000 | $ 197,619,000 | |
Effective income tax rate | 25.00% | 38.34% | 25.56% | 38.54% | |
Income tax expense from Tax Act | $ 16,000 | $ 25,400,000 | |||
Unrecognized tax benefits | $ 2,400,000 | 2,400,000 | 2,100,000 | ||
Interest accrued | 476,000 | 476,000 | 348,000 | ||
Penalties accrued | 0 | 0 | $ 0 | ||
Decrease in unrecognized tax benefits is reasonably possible | $ 2,400,000 | $ 2,400,000 |
Fair Value Measurements - Asset
Fair Value Measurements - Assets and Liabilities Measured at Fair Value, Recurring (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Costs to sell percentage | 8.50% | |
Assets: | ||
Securities available for sale, at fair value | $ 1,854,250 | $ 1,720,257 |
Mortgage banking derivatives | 54 | |
Collateralized mortgage obligations | ||
Assets: | ||
Securities available for sale, at fair value | 911,881 | 838,709 |
Residential | ||
Assets: | ||
Securities available for sale, at fair value | 412,708 | 471,214 |
Commercial | ||
Assets: | ||
Securities available for sale, at fair value | 448,326 | 301,365 |
Corporate securities | ||
Assets: | ||
Securities available for sale, at fair value | 4,349 | 4,475 |
Municipal securities | ||
Assets: | ||
Securities available for sale, at fair value | 76,986 | 82,537 |
Mutual funds | ||
Assets: | ||
Securities available for sale, at fair value | 21,957 | |
Recurring basis | Collateralized mortgage obligations | ||
Assets: | ||
Securities available for sale, at fair value | 911,881 | 838,709 |
Recurring basis | Residential | ||
Assets: | ||
Securities available for sale, at fair value | 412,708 | 471,214 |
Recurring basis | Commercial | ||
Assets: | ||
Securities available for sale, at fair value | 448,326 | 301,365 |
Recurring basis | Corporate securities | ||
Assets: | ||
Securities available for sale, at fair value | 4,349 | 4,475 |
Recurring basis | Municipal securities | ||
Assets: | ||
Securities available for sale, at fair value | 76,986 | 82,537 |
Recurring basis | Equity investments | ||
Assets: | ||
Equity investments with readily determinable fair value | 23,858 | |
Recurring basis | Mutual funds | ||
Assets: | ||
Securities available for sale, at fair value | 21,957 | |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Assets: | ||
Interest rate swaps | 0 | 0 |
Mortgage banking derivatives | 0 | 0 |
Liabilities: | ||
Interest rate swaps | 0 | 0 |
Mortgage banking derivatives | 0 | 0 |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | 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) | Residential | ||
Assets: | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial | ||
Assets: | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate securities | ||
Assets: | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Municipal securities | ||
Assets: | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Equity investments | ||
Assets: | ||
Equity investments with readily determinable fair value | 23,858 | |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mutual funds | ||
Assets: | ||
Securities available for sale, at fair value | 21,957 | |
Recurring basis | Significant Other Observable Inputs (Level 2) | ||
Assets: | ||
Interest rate swaps | 12,685 | 2,838 |
Mortgage banking derivatives | 54 | 33 |
Liabilities: | ||
Interest rate swaps | 12,685 | 2,838 |
Mortgage banking derivatives | 11 | 5 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Collateralized mortgage obligations | ||
Assets: | ||
Securities available for sale, at fair value | 911,881 | 838,709 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Residential | ||
Assets: | ||
Securities available for sale, at fair value | 412,708 | 471,214 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Commercial | ||
Assets: | ||
Securities available for sale, at fair value | 448,326 | 301,365 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Corporate securities | ||
Assets: | ||
Securities available for sale, at fair value | 4,349 | 4,475 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Municipal securities | ||
Assets: | ||
Securities available for sale, at fair value | 75,943 | 81,429 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Equity investments | ||
Assets: | ||
Equity investments with readily determinable fair value | 0 | |
Recurring basis | Significant Other Observable Inputs (Level 2) | Mutual funds | ||
Assets: | ||
Securities available for sale, at fair value | 0 | |
Recurring basis | Significant Unobservable Inputs (Level 3) | ||
Assets: | ||
Interest rate swaps | 0 | 0 |
Mortgage banking derivatives | 0 | 0 |
Liabilities: | ||
Interest rate swaps | 0 | 0 |
Mortgage banking derivatives | 0 | 0 |
Recurring basis | Significant Unobservable Inputs (Level 3) | Collateralized mortgage obligations | ||
Assets: | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring basis | Significant Unobservable Inputs (Level 3) | Residential | ||
Assets: | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring basis | Significant Unobservable Inputs (Level 3) | Commercial | ||
Assets: | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring basis | Significant Unobservable Inputs (Level 3) | Corporate securities | ||
Assets: | ||
Securities available for sale, at fair value | 0 | 0 |
Recurring basis | Significant Unobservable Inputs (Level 3) | Municipal securities | ||
Assets: | ||
Securities available for sale, at fair value | 1,043 | 1,108 |
Recurring basis | Significant Unobservable Inputs (Level 3) | Equity investments | ||
Assets: | ||
Equity investments with readily determinable fair value | 0 | |
Recurring basis | Significant Unobservable Inputs (Level 3) | Mutual funds | ||
Assets: | ||
Securities available for sale, at fair value | 0 | |
Recurring basis | Estimated Fair Value | ||
Assets: | ||
Interest rate swaps | 12,685 | 2,838 |
Mortgage banking derivatives | 33 | |
Liabilities: | ||
Interest rate swaps | 12,685 | 2,838 |
Mortgage banking derivatives | $ 11 | $ 5 |
Accounts Receivable | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 20.00% | |
Accounts Receivable | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 60.00% | |
Inventories | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 50.00% | |
Inventories | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 70.00% |
Fair Value Measurements - Rollf
Fair Value Measurements - Rollforward of Level 3 Assets (Details) - Municipal securities - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | $ 1,065 | $ 1,127 | $ 1,108 | $ 1,139 |
Total losses included in other comprehensive income (loss) | (22) | (7) | (65) | (19) |
Ending Balance | $ 1,043 | $ 1,120 | $ 1,043 | $ 1,120 |
Fair Value Measurements - Ass_2
Fair Value Measurements - Assets Measured at Fair Value, Non-Recurring (Details) - Non-recurring basis - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Real estate loans | ||
Assets: | ||
Assets | $ 11,043 | $ 6,086 |
Commercial business | ||
Assets: | ||
Assets | 7,293 | 3,320 |
Consumer | ||
Assets: | ||
Assets | 66 | 84 |
OREO | ||
Assets: | ||
Assets | 4,062 | 5,615 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Real estate loans | ||
Assets: | ||
Assets | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial business | ||
Assets: | ||
Assets | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Consumer | ||
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) | Real estate loans | ||
Assets: | ||
Assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Commercial business | ||
Assets: | ||
Assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Consumer | ||
Assets: | ||
Assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) | OREO | ||
Assets: | ||
Assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Real estate loans | ||
Assets: | ||
Assets | 11,043 | 6,086 |
Significant Unobservable Inputs (Level 3) | Commercial business | ||
Assets: | ||
Assets | 7,293 | 3,320 |
Significant Unobservable Inputs (Level 3) | Consumer | ||
Assets: | ||
Assets | 66 | 84 |
Significant Unobservable Inputs (Level 3) | OREO | ||
Assets: | ||
Assets | $ 4,062 | $ 5,615 |
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 | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Real estate | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total gains (losses), fair value | $ (14) | $ 142 | $ (4,620) | $ (2,293) |
Commercial business | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total gains (losses), fair value | 89 | 364 | 703 | (4,637) |
Trade finance | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total gains (losses), fair value | 268 | 3 | 43 | (1,236) |
Consumer | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total gains (losses), fair value | (308) | (206) | (834) | (701) |
Loans held for sale, net | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total gains (losses), fair value | 0 | 847 | 0 | 1,619 |
OREO | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total gains (losses), fair value | $ 418 | $ (640) | $ 682 | $ (1,967) |
Fair Value Measurements - Carry
Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Carrying Amount | ||
Financial Assets: | ||
FHLB stock | $ 25,927 | $ 29,776 |
Level 1 | Carrying Amount | ||
Financial Assets: | ||
Cash and cash equivalents | 522,710 | 492,000 |
Financial Liabilities: | ||
Convertible notes, net | 193,332 | |
Level 1 | Estimated Fair Value | ||
Financial Assets: | ||
Cash and cash equivalents | 522,710 | 492,000 |
Financial Liabilities: | ||
Convertible notes, net | 202,434 | |
Level 2/3 | Carrying Amount | ||
Financial Assets: | ||
Accrued interest receivable | 33,338 | 29,979 |
Level 2/3 | Carrying Amount | Other investments | ||
Financial Assets: | ||
Interest bearing deposits in other financial institutions and other investments | 80,316 | 53,366 |
Level 2/3 | Estimated Fair Value | ||
Financial Assets: | ||
Accrued interest receivable | 33,338 | 29,979 |
Level 2/3 | Estimated Fair Value | Other investments | ||
Financial Assets: | ||
Interest bearing deposits in other financial institutions and other investments | 80,253 | 52,960 |
Level 2 | Carrying Amount | ||
Financial Assets: | ||
Loans held for sale | 15,023 | 29,661 |
Customers’ liabilities on acceptances | 1,259 | 1,691 |
Financial Liabilities: | ||
Noninterest bearing deposits | 3,020,819 | 2,998,734 |
Saving and other interest bearing demand deposits | 3,476,501 | 3,573,212 |
Time deposits | 5,548,299 | 4,274,663 |
FHLB advances | 836,637 | 1,157,693 |
Federal funds purchased | 69,900 | |
Subordinated debentures | 101,657 | 100,853 |
Accrued interest payable | 31,717 | 15,961 |
Acceptances outstanding | 1,259 | 1,691 |
Level 2 | Estimated Fair Value | ||
Financial Assets: | ||
Loans held for sale | 15,820 | 32,048 |
Customers’ liabilities on acceptances | 1,259 | 1,691 |
Financial Liabilities: | ||
Noninterest bearing deposits | 3,020,819 | 2,998,734 |
Saving and other interest bearing demand deposits | 3,476,501 | 3,573,212 |
Time deposits | 5,564,899 | 4,263,585 |
FHLB advances | 836,637 | 1,220,529 |
Federal funds purchased | 69,900 | |
Subordinated debentures | 117,626 | 100,853 |
Accrued interest payable | 31,717 | 15,961 |
Acceptances outstanding | 1,259 | 1,691 |
Level 3 | Carrying Amount | ||
Financial Assets: | ||
Loans receivable—net | 11,836,553 | 11,018,034 |
Servicing assets, net | 24,354 | 24,710 |
Level 3 | Estimated Fair Value | ||
Financial Assets: | ||
Loans receivable—net | 11,753,800 | 11,112,179 |
Servicing assets, net | $ 26,325 | $ 27,511 |
Stockholders' Equity - Discussi
Stockholders' Equity - Discussion of Equity and Warrants (Details) - USD ($) | Jun. 07, 2018 | May 20, 2015 | Sep. 30, 2018 | Jun. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 20, 2018 | Apr. 26, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Equity [Abstract] | |||||||||||
Total stockholders’ equity | $ 1,904,580,000 | $ 1,934,431,000 | $ 1,904,580,000 | $ 1,934,431,000 | $ 1,928,255,000 | $ 1,855,473,000 | |||||
Class of Warrant or Right [Line Items] | |||||||||||
Equity component of convertible notes, net of taxes | $ 15,045,000 | ||||||||||
Share repurchase program, authorized amount | $ 50,000,000 | $ 100,000,000 | |||||||||
Common stock repurchased and recorded as treasury stock (in shares) | 5,565,696 | ||||||||||
Repurchase of treasury stock | $ 100,000,000 | ||||||||||
Dividends paid (in dollars per share) | $ 0.14 | $ 0.13 | $ 0.40 | $ 0.37 | |||||||
Convertible Notes | |||||||||||
Class of Warrant or Right [Line Items] | |||||||||||
Equity component of convertible notes | $ 21,900,000 | ||||||||||
Issuance costs from convertible notes allocated to equity | 461,000 | ||||||||||
Repurchase of treasury stock | $ 76,000,000 | ||||||||||
Additional paid-in capital | |||||||||||
Equity [Abstract] | |||||||||||
Total stockholders’ equity | $ 1,422,685,000 | $ 1,403,586,000 | $ 1,422,685,000 | $ 1,403,586,000 | $ 1,405,014,000 | $ 1,400,490,000 | |||||
Class of Warrant or Right [Line Items] | |||||||||||
Equity component of convertible notes, net of taxes | 21,400,000 | $ 15,045,000 | |||||||||
Convertible debt tax adjustment, reduction to additional paid-in capital | $ 6,400,000 | ||||||||||
Common Stock | |||||||||||
Class of Warrant or Right [Line Items] | |||||||||||
Potential repurchase (in shares) | 350,767 | ||||||||||
Redemption of common stock warrant | $ 1,200,000 | ||||||||||
Maximum number of shares callable by warrants | 20,845 | 20,845 |
Stockholders' Equity - Changes
Stockholders' Equity - Changes in Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Equity [Abstract] | |||||
Balance at beginning of period | $ (45,122,000) | $ (10,089,000) | $ (21,781,000) | $ (14,657,000) | |
Unrealized loss on securities available for sale and interest only strips | (13,114,000) | (211,000) | (47,012,000) | 7,697,000 | |
Tax effect | 3,915,000 | 89,000 | 14,191,000 | (3,251,000) | |
Total other comprehensive (loss) income | (9,199,000) | (122,000) | (32,821,000) | 4,446,000 | |
Reclassification to retained earnings per ASU 2016-01 | 281,000 | 0 | |||
Balance at end of period | (54,321,000) | (10,211,000) | (54,321,000) | (10,211,000) | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | |||||
Reclassification of unrealized losses on equity investments to retained earnings - ASU 2016-01 | $ (188,000) | ||||
Reclassifications out of accumulated other comprehensive (loss) income | $ 0 | $ 0 | 0 | 0 | |
Accumulated other comprehensive loss, net | |||||
Equity [Abstract] | |||||
Total other comprehensive (loss) income | $ (32,821,000) | $ 4,446,000 | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | |||||
Reclassification of unrealized losses on equity investments to retained earnings - ASU 2016-01 | $ 281,000 |
Regulatory Matters (Details)
Regulatory Matters (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Company | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common Equity Tier One Capital | $ 1,480,530 | $ 1,471,193 |
Common Equity Tier One Capital Ratio | 11.61% | 12.30% |
Total capital (to risk-weighted assets), Amount | ||
Total Capital, Actual | $ 1,669,650 | $ 1,653,521 |
Total Capital, Required For Capital Adequacy Purposes | 1,019,787 | 957,217 |
Required for Capital Adequacy with Capital Buffer | 1,258,800 | 1,106,782 |
Tier I capital (to risk-weighted assets), Amount | ||
Tier I Capital, Actual (Risk Based) | 1,480,530 | 1,568,144 |
Tier I Capital, Required For Capital Adequacy Purposes | 764,841 | 717,913 |
Tier 1 Capital, Required for Capital Adequacy with Capital Buffer | 1,003,853 | 867,478 |
Tier I capital (to average assets), Amount | ||
Tier I Capital, Actual (Leverage) | 1,480,530 | 1,568,144 |
Tier I Capital, Required For Capital Adequacy Purposes | $ 584,335 | $ 543,528 |
Total capital and Tier I capital (to risk-weighted assets), Ratio | ||
Total Capital (to Risk Weighted Assets), Actual | 13.10% | 13.82% |
Total Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes | 8.00% | 8.00% |
Total Capital (to Risk Weighted assets), Minimum Required for Capital Adequacy with Capital Buffer | 9.875% | 9.25% |
Tier I Capital (to Risk Weighted Assets), Actual (Risk Based) | 11.61% | 13.11% |
Tier I Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes (Risk Based) | 6.00% | 6.00% |
Tier 1 Capital (to Risk Weighted Assets), Minimum Required for Capital Adequacy with Capital Buffer | 7.875% | 7.25% |
Tier I capital (to average assets), Ratio | ||
Tier I Capital (to Average Assets), Actual (Leverage) | 10.13% | 11.54% |
Tier I Capital (to Average Assets), Minimum For Capital Adequacy Purposes (Leverage) | 4.00% | 4.00% |
Bank | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common Equity Tier One Capital | $ 1,759,538 | $ 1,548,401 |
Common Equity Tier One Capital Ratio | 13.80% | 12.95% |
Total capital (to risk-weighted assets), Amount | ||
Total Capital, Actual | $ 1,850,902 | $ 1,633,778 |
Total Capital, Required For Capital Adequacy Purposes | 1,019,749 | 956,761 |
Required for Capital Adequacy with Capital Buffer | 1,258,753 | 1,106,255 |
Required To Be Well Capitalized under Prompt Corrective Action Provisions | 1,274,686 | 1,195,951 |
Tier I capital (to risk-weighted assets), Amount | ||
Tier I Capital, Actual (Risk Based) | 1,759,538 | 1,548,401 |
Tier I Capital, Required For Capital Adequacy Purposes | 764,812 | 717,571 |
Tier 1 Capital, Required for Capital Adequacy with Capital Buffer | 812,613 | 687,672 |
Tier I Capital, Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Risk Based) | 1,019,749 | 956,761 |
Tier I capital (to average assets), Amount | ||
Tier I Capital, Actual (Leverage) | 1,759,538 | 1,548,401 |
Tier I Capital, Required For Capital Adequacy Purposes | 584,597 | 543,441 |
Tier I Capital, Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Leverage) | $ 730,747 | $ 679,301 |
Total capital and Tier I capital (to risk-weighted assets), Ratio | ||
Total Capital (to Risk Weighted Assets), Actual | 14.52% | 13.66% |
Total Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes | 8.00% | 8.00% |
Total Capital (to Risk Weighted assets), Minimum Required for Capital Adequacy with Capital Buffer | 9.875% | 9.25% |
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) | 13.80% | 12.95% |
Tier I Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes (Risk Based) | 6.00% | 6.00% |
Tier 1 Capital (to Risk Weighted Assets), Minimum Required for Capital Adequacy with Capital Buffer | 7.875% | 7.25% |
Common Equity Tier One Capital Required to be Well-Capitalized | $ 828,546 | $ 777,368 |
Tier I Capital (to Risk Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Risk Based) | 8.00% | 8.00% |
Tier I capital (to average assets), Ratio | ||
Tier I Capital (to Average Assets), Actual (Leverage) | 12.04% | 11.40% |
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 | Company | ||
Tier I capital (to risk-weighted assets), Amount | ||
Tier I Capital, Required For Capital Adequacy Purposes | $ 573,630 | $ 538,435 |
Tier 1 Capital, Required for Capital Adequacy with Capital Buffer | $ 812,643 | $ 688,000 |
Total capital and Tier I capital (to risk-weighted assets), Ratio | ||
Tier I Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes (Risk Based) | 4.50% | 4.50% |
Tier 1 Capital (to Risk Weighted Assets), Minimum Required for Capital Adequacy with Capital Buffer | 6.375% | 5.75% |
Common Equity Tier 1 | Bank | ||
Tier I capital (to risk-weighted assets), Amount | ||
Tier I Capital, Required For Capital Adequacy Purposes | $ 573,609 | $ 538,178 |
Tier 1 Capital, Required for Capital Adequacy with Capital Buffer | $ 812,613 | $ 687,672 |
Total capital and Tier I capital (to risk-weighted assets), Ratio | ||
Tier I Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes (Risk Based) | 4.50% | 4.50% |
Tier 1 Capital (to Risk Weighted Assets), Minimum Required for Capital Adequacy with Capital Buffer | 6.375% | 5.75% |
Tier I Capital (to Risk Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Risk Based) | 6.50% | 6.50% |
Revenue Recognition - Service C
Revenue Recognition - Service Charged on Deposit Accounts (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Disaggregation of Revenue [Line Items] | ||||
Service fees on deposit accounts | $ 4,569 | $ 5,151 | $ 13,983 | $ 15,668 |
Wire transfer fees | 1,227 | 1,287 | 3,684 | 3,816 |
Wire transfer fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Wire transfer fees | 1,109 | 1,168 | 3,338 | 3,497 |
Foreign exchange fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Wire transfer fees | 118 | 119 | 346 | 319 |
Noninterest Bearing Deposits | ||||
Disaggregation of Revenue [Line Items] | ||||
Service fees on deposit accounts | 4,553 | 5,137 | 13,938 | 15,619 |
Noninterest Bearing Deposits | Monthly service charges | ||||
Disaggregation of Revenue [Line Items] | ||||
Service fees on deposit accounts | 455 | 439 | 1,340 | 1,347 |
Noninterest Bearing Deposits | Customer analysis charges | ||||
Disaggregation of Revenue [Line Items] | ||||
Service fees on deposit accounts | 1,912 | 2,109 | 5,972 | 6,452 |
Noninterest Bearing Deposits | NSF charges | ||||
Disaggregation of Revenue [Line Items] | ||||
Service fees on deposit accounts | 1,961 | 2,344 | 5,947 | 7,077 |
Noninterest Bearing Deposits | Other service charges | ||||
Disaggregation of Revenue [Line Items] | ||||
Service fees on deposit accounts | 225 | 245 | 679 | 743 |
Interest-bearing Deposits | Monthly service charges | ||||
Disaggregation of Revenue [Line Items] | ||||
Service fees on deposit accounts | $ 16 | $ 14 | $ 45 | $ 49 |
Revenue Recognition - OREO Inco
Revenue Recognition - OREO Income (Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenue from Contract with Customer [Abstract] | ||||
Gains (losses) on sales of OREO | $ 208 | $ 48 | $ 358 | $ 34 |