Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Jul. 31, 2019 | |
Cover page. | ||
Title of 12(b) Security | Common Stock | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2019 | |
Entity File Number | 000-50245 | |
Entity Registrant Name | HOPE BANCORP INC | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 95-4849715 | |
Entity Address, Address Line One | 3200 Wilshire Boulevard, Suite 1400 | |
Entity Address, City or Town | Los Angeles | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 90010 | |
City Area Code | 213 | |
Local Phone Number | 639-1700 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Compnay | false | |
Entity Common Stock, Shares Outstanding | 126,685,919 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Entity Central Index Key | 0001128361 | |
Trading Symbol | HOPE | |
Security Exchange Name | NASDAQ |
Consolidated Statements Of Fina
Consolidated Statements Of Financial Condition - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Cash and cash equivalents: | ||
Cash and due from banks | $ 242,459,000 | $ 219,366,000 |
Interest bearing cash in other banks | 367,336,000 | 240,240,000 |
Total cash and cash equivalents | 609,795,000 | 459,606,000 |
Interest bearing deposits in other financial institutions | 30,632,000 | 29,409,000 |
Securities available for sale, at fair value | 1,826,903,000 | 1,846,265,000 |
Equity investments | 48,750,000 | 49,835,000 |
Loans held for sale, at the lower of cost or fair value | 6,426,000 | 25,128,000 |
Loans receivable, net of allowance for loan losses of $94,066 and $92,557 at June 30, 2019 and December 31, 2018, respectively | 11,883,068,000 | 12,005,558,000 |
Other real estate owned (“OREO”), net | 5,644,000 | 7,754,000 |
Federal Home Loan Bank (“FHLB”) stock, at cost | 21,580,000 | 25,461,000 |
Premises and equipment, net | 52,552,000 | 53,794,000 |
Accrued interest receivable | 33,980,000 | 32,225,000 |
Deferred tax assets, net | 30,048,000 | 50,913,000 |
Customers’ liabilities on acceptances | 1,696,000 | 2,281,000 |
Bank owned life insurance (“BOLI”) | 75,963,000 | 75,219,000 |
Investments in affordable housing partnerships | 86,672,000 | 92,040,000 |
Operating lease right-of-use assets, net | 60,064,000 | 0 |
Goodwill | 464,450,000 | 464,450,000 |
Core deposit intangible assets, net | 12,947,000 | 14,061,000 |
Servicing assets, net | 19,997,000 | 23,132,000 |
Other assets | 67,660,000 | 48,821,000 |
Total assets | 15,338,827,000 | 15,305,952,000 |
Deposits: | ||
Noninterest bearing | 3,009,218,000 | 3,022,633,000 |
Interest bearing: | ||
Money market and NOW accounts | 3,238,947,000 | 3,036,653,000 |
Savings deposits | 243,859,000 | 225,746,000 |
Time deposits | 5,680,360,000 | 5,870,624,000 |
Total deposits | 12,172,384,000 | 12,155,656,000 |
Advances from Federal Home Loan Banks | 695,000,000 | 821,280,000 |
Federal funds purchased | 0 | |
Convertible notes, net | 196,977,000 | 194,543,000 |
Subordinated debentures, net | 102,477,000 | 101,929,000 |
Accrued interest payable | 36,987,000 | 31,374,000 |
Acceptances outstanding | 1,696,000 | 2,281,000 |
Operating lease liabilities | 61,214,000 | 0 |
Commitments to fund investments in affordable housing partnerships | 34,217,000 | 46,507,000 |
Other liabilities | 42,703,000 | 49,171,000 |
Total liabilities | 13,343,655,000 | 13,402,741,000 |
STOCKHOLDERS’ EQUITY: | ||
Common stock, $0.001 par value; authorized 150,000,000 shares at June 30, 2019 and December 31, 2018: issued and outstanding 135,676,275 and 126,673,822 shares, respectively, at June 30, 2019, and issued and outstanding 135,642,365 and 126,639,912 shares, respectively, at December 31, 2018 | 136,000 | 136,000 |
Additional paid-in capital | 1,425,262,000 | 1,423,405,000 |
Retained earnings | 712,351,000 | 662,375,000 |
Treasury stock, at cost; 9,002,453 shares at June 30, 2019 and December 31, 2018 | (150,000,000) | (150,000,000) |
Accumulated other comprehensive gain (loss), net | 7,423,000 | (32,705,000) |
Total stockholders’ equity | 1,995,172,000 | 1,903,211,000 |
Total liabilities and stockholders’ equity | $ 15,338,827,000 | $ 15,305,952,000 |
Consolidated Statements Of Fi_2
Consolidated Statements Of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Loans receivable, allowance | $ 94,217 | $ 92,557 |
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 | 135,638,037 | 135,642,365 |
Common stock, shares outstanding | 126,635,584 | 126,639,912 |
Treasury stock, at cost, shares repurchased | 9,002,453 | 9,002,453 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
INTEREST INCOME: | ||||
Interest and fees on loans | $ 158,627 | $ 146,188 | $ 316,763 | $ 284,131 |
Interest on securities | 11,866 | 10,899 | 24,185 | 21,000 |
Interest on other investments | 2,973 | 2,823 | 5,648 | 5,189 |
Total interest income | 173,466 | 159,910 | 346,596 | 310,320 |
INTEREST EXPENSE: | ||||
Interest on deposits | 48,826 | 30,610 | 95,673 | 55,459 |
Interest Expense Federal Home loan Bank Advance | 3,384 | 3,681 | 5,998 | 7,750 |
Interest on other borrowings and convertible notes | 4,035 | 2,800 | 8,096 | 4,224 |
Total interest expense | 56,245 | 37,091 | 109,767 | 67,433 |
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES | 117,221 | 122,819 | 236,829 | 242,887 |
PROVISION FOR LOAN LOSSES | 1,200 | 2,300 | 4,200 | 4,800 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 116,021 | 120,519 | 232,629 | 238,087 |
NONINTEREST INCOME: | ||||
Service fees on deposit accounts | 4,416 | 4,613 | 8,733 | 9,414 |
International service fees | 1,020 | 1,212 | 1,953 | 2,232 |
Loan servicing fees, net | 738 | 1,010 | 1,467 | 2,589 |
Wire transfer fees | 1,311 | 1,250 | 2,400 | 2,457 |
Net gains on sales of SBA loans | 0 | 3,480 | 0 | 6,930 |
Net gains on sales of other loans | 1,066 | 431 | 1,807 | 1,627 |
Net gains on sales of securities available for sale | 129 | 0 | 129 | 0 |
Other income and fees | 3,607 | 3,273 | 7,220 | 9,870 |
Total noninterest income | 12,287 | 15,269 | 23,709 | 35,119 |
NONINTEREST EXPENSE: | ||||
Salaries and employee benefits | 39,297 | 40,575 | 79,726 | 79,960 |
Occupancy | 7,839 | 7,418 | 15,516 | 14,657 |
Furniture and equipment | 4,026 | 4,023 | 7,472 | 7,744 |
Advertising and marketing | 2,245 | 2,737 | 4,307 | 5,036 |
Data processing and communications | 2,587 | 3,574 | 5,543 | 7,069 |
Professional fees | 5,959 | 4,474 | 11,339 | 7,580 |
Investments in affordable housing partnerships expenses | 2,388 | 2,613 | 5,268 | 5,243 |
FDIC assessments | 1,559 | 1,611 | 3,110 | 3,378 |
Credit related expenses | 1,549 | 926 | 2,227 | 1,698 |
OREO expense, net | 83 | 45 | (69) | (59) |
Other | 3,839 | 3,633 | 7,765 | 7,776 |
Total noninterest expense | 71,371 | 71,629 | 142,204 | 140,082 |
INCOME BEFORE INCOME TAXES | 56,937 | 64,159 | 114,134 | 133,124 |
INCOME TAX PROVISION | 14,256 | 16,629 | 28,695 | 34,362 |
NET INCOME | $ 42,681 | $ 47,530 | $ 85,439 | $ 98,762 |
EARNINGS PER COMMON SHARE | ||||
Basic (in dollars per share) | $ 0.34 | $ 0.36 | $ 0.67 | $ 0.74 |
Diluted (in dollars per share) | $ 0.34 | $ 0.36 | $ 0.67 | $ 0.73 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | $ 0 | $ 0 | $ 0 | $ 0 |
Net income | 42,681,000 | 47,530,000 | 85,439,000 | 98,762,000 |
Other comprehensive income (loss): | ||||
Change in unrealized net holding gains (losses) on securities available for sale | 32,523,000 | (9,249,000) | 57,189,000 | (33,898,000) |
Reclassification adjustments for net gains realized in net income | (129,000) | 0 | (129,000) | 0 |
Tax effect | (9,613,000) | 2,767,000 | (16,932,000) | 10,276,000 |
Other comprehensive income (loss), net of tax | 22,781,000 | (6,482,000) | 40,128,000 | (23,622,000) |
Total comprehensive income | $ 65,462,000 | $ 41,048,000 | $ 125,567,000 | $ 75,140,000 |
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) income, net |
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, net of forfeitures and tax withholding cancellations | 209 | 209 | ||||
Issuance of shares pursuant to various stock plans, shares | 17,554 | |||||
Stock-based compensation | 1,411 | 1,411 | ||||
Cash dividends declared on common stock ($0.26 per share) | (35,235) | (35,235) | ||||
Comprehensive income: | ||||||
Net income | 98,762 | 98,762 | ||||
Other comprehensive income (loss) | (23,622) | (23,622) | ||||
Repurchase of treasury stock, shares | (4,361,740) | |||||
Repurchase of treasury stock | (78,961) | (78,961) | ||||
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt | 15,045 | |||||
Equity component of convertible notes, net of taxes | 15,045 | |||||
Balance at Jun. 30, 2018 | 1,905,676 | $ 136 | 1,421,679 | 607,944 | (78,961) | (45,122) |
Balance, shares at Jun. 30, 2018 | 131,167,705 | |||||
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 | |||||
Comprehensive income: | ||||||
Repurchase of treasury stock, shares | (9,002,453) | |||||
Balance at Dec. 31, 2018 | $ 1,903,211 | $ 136 | 1,423,405 | 662,375 | (150,000) | (32,705) |
Balance, shares at Dec. 31, 2018 | 126,639,912 | |||||
Balance at Mar. 31, 2018 | 1,945,333 | $ 136 | 1,405,806 | 578,031 | 0 | (38,640) |
Balance, shares at Mar. 31, 2018 | 135,516,119 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of shares pursuant to various stock plans, net of forfeitures and tax withholding cancellations | 97 | 97 | ||||
Issuance of shares pursuant to various stock plans, shares | 13,326 | |||||
Stock-based compensation | 731 | 731 | ||||
Cash dividends declared on common stock ($0.26 per share) | (17,617) | (17,617) | ||||
Comprehensive income: | ||||||
Net income | 47,530 | 47,530 | ||||
Other comprehensive income (loss) | (6,482) | (6,482) | ||||
Repurchase of treasury stock, shares | (4,361,740) | |||||
Repurchase of treasury stock | (78,961) | (78,961) | ||||
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt | 15,045 | |||||
Equity component of convertible notes, net of taxes | 15,045 | |||||
Balance at Jun. 30, 2018 | 1,905,676 | $ 136 | 1,421,679 | 607,944 | (78,961) | (45,122) |
Balance, shares at Jun. 30, 2018 | 131,167,705 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Reclassification of unrealized losses on equity investments to retained earnings - ASU 2016-01 | (469) | 281 | ||||
Balance at Dec. 31, 2018 | 1,903,211 | $ 136 | 1,423,405 | 662,375 | (150,000) | (32,705) |
Balance, shares at Dec. 31, 2018 | 126,639,912 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of shares pursuant to various stock plans, net of forfeitures and tax withholding cancellations | 3 | 3 | ||||
Issuance of shares pursuant to various stock plans, shares | 33,910 | |||||
Stock-based compensation | 1,854 | 1,854 | ||||
Cash dividends declared on common stock ($0.26 per share) | (35,463) | (35,463) | ||||
Comprehensive income: | ||||||
Net income | 85,439 | 85,439 | ||||
Other comprehensive income (loss) | $ 40,128 | 40,128 | ||||
Repurchase of treasury stock, shares | 0 | |||||
Repurchase of treasury stock | $ (100,000) | |||||
Balance at Jun. 30, 2019 | 1,995,172 | $ 136 | 1,425,262 | 712,351 | (150,000) | 7,423 |
Balance, shares at Jun. 30, 2019 | 126,673,822 | |||||
Balance at Mar. 31, 2019 | 1,946,211 | $ 136 | 1,424,029 | 687,404 | (150,000) | (15,358) |
Balance, shares at Mar. 31, 2019 | 126,635,584 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of shares pursuant to various stock plans, shares | 38,238 | |||||
Stock-based compensation | 1,233 | 1,233 | ||||
Cash dividends declared on common stock ($0.26 per share) | (17,734) | (17,734) | ||||
Comprehensive income: | ||||||
Net income | 42,681 | 42,681 | ||||
Other comprehensive income (loss) | 22,781 | 22,781 | ||||
Balance at Jun. 30, 2019 | $ 1,995,172 | $ 136 | $ 1,425,262 | $ 712,351 | $ (150,000) | $ 7,423 |
Balance, shares at Jun. 30, 2019 | 126,673,822 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 85,439 | $ 98,762 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Discount accretion, net of depreciation and amortization | 904 | (3,318) |
Stock-based compensation expense | 2,326 | 1,868 |
Provision for loan losses | 4,200 | 4,800 |
Credit for unfunded loan commitments | 0 | (50) |
Valuation adjustment of OREO | 153 | 113 |
Net gains on sales of SBA and other loans | (1,807) | (8,557) |
Earnings on BOLI | (744) | (778) |
Net change in fair value of derivatives | (62) | 15 |
Net losses on sale and disposal of premises and equipment | 75 | 36 |
Net losses (gains) on sales of OREO | 13 | (151) |
Net gains on sales of securities available for sale | (129) | 0 |
Net change in fair value of equity investments with readily determinable fair value | (1,225) | (3,518) |
Losses on investments in affordable housing partnership | 5,216 | 5,074 |
Net change in deferred income taxes | 3,933 | 4,408 |
Proceeds from sales of loans held for sale | 64,220 | 161,621 |
Originations of loans held for sale | (49,560) | (148,086) |
Originations of servicing assets | (946) | (3,316) |
Net change in accrued interest receivable | (1,755) | (975) |
Net change in other assets | (19,976) | 2,102 |
Net change in accrued interest payable | 5,613 | 8,633 |
Net change in other liabilities | (6,468) | (13,134) |
Net cash provided by operating activities | 89,420 | 105,549 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchases of interest bearing deposits in other financial institutions | (11,270) | (4,611) |
Redemption of interest bearing deposits in other financial institutions | 10,047 | 5,635 |
Purchase of securities available for sale | (110,954) | (277,627) |
Proceeds from matured, called, or paid-down securities available for sale | 114,943 | 102,950 |
Proceeds from sale of securities available for sale | 69,169 | 0 |
Proceeds from sales of other loans held for sale previously classified as held for investment | 83,599 | 6,296 |
Net change in loans receivable | 56,824 | (557,761) |
Proceeds from sales of OREO | 2,741 | 4,350 |
Purchase of FHLB stock | (155) | |
Purchase of FHLB stock | 0 | |
Redemption of FHLB stock | 4,036 | 2,829 |
Purchase of premises and equipment | (3,100) | (4,329) |
Proceeds from BOLI death benefits | 1,363 | 0 |
Investments in affordable housing partnerships | (12,270) | (5,480) |
Net cash provided by (used in) investing activities | 204,973 | (727,748) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net change in deposits | 16,728 | 887,987 |
Proceeds from FHLB advances | 515,000 | 0 |
Repayment of FHLB advances | (640,000) | (320,000) |
Repayment of federal funds purchased | 0 | (69,900) |
Proceeds from convertible notes, net of issuance fees | 0 | 212,920 |
Purchase of treasury stock | 0 | (78,961) |
Cash dividends paid on common stock | (35,463) | (35,235) |
Taxes paid in net settlement of restricted stock | (472) | (457) |
Issuance of additional stock pursuant to various stock plans | 3 | 209 |
Net cash (used in) provided by financing activities | (144,204) | 596,563 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 150,189 | (25,636) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 459,606 | 492,000 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 609,795 | 466,364 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||
Interest paid | 102,452 | 58,348 |
Income taxes paid | 35,159 | 15,218 |
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES | ||
Transfer from loans receivable to OREO | 302 | 1,876 |
Transfer from loans receivable to loans held for sale | 82,991 | 6,155 |
Transfer from loans held for sale to loans receivable | 5,181 | 478 |
Transfer of available for sale securities to equity investments with adoption of ASU 2016-01 | 0 | 21,957 |
New commitments to fund affordable housing partnership investments | 0 | 5,000 |
Lease liabilities arising from obtaining right-of-use assets | $ 62,833 | $ 0 |
Hope Bancorp, Inc.
Hope Bancorp, Inc. | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30, 2019 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2019 | |
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, 2018 which was from the audited financial statements included in the Company’s 2018 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 June 30, 2019 and December 31, 2018 and the results of operations for the three and six months ended June 30, 2019 and 2018 . 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 2018 Annual Report on Form 10-K. Pending Accounting Pronouncements 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”. The FASB subsequently issued ASU 2018-19, ASU 2019-04, and ASU 2019-05 to provide additional clarification, implementation, codification improvements, and transition guidance related to ASU 2016-13. 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 also engaged a software vendor to assist the Company to consolidate its models to arrive at a lifetime expected credit losses in compliance with ASU 2016-13 by the effective date. The Company is currently finalizing and documenting its methodologies and developing new processes, policies, and controls under the new guidance in preparation of performing a full end to end parallel run. 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. 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 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. 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. Recent Accounting Pronouncements In May 2019, the FASB issued ASU 2019-05, “Financial Instruments - Credit Losses, Topic 326.” ASU 2019-05 addresses certain stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. ASU 2016-13 allows companies to irrevocably elect, upon adoption of ASU 2016-13, the fair value option on financial instruments that (1) were previously recorded at amortized cost and (2) are within the scope of ASC 326-20 if the instruments are eligible for the fair value option under ASC 825-10. Entities are required to make this election on an instrument-by-instrument basis. The effective date for ASU 2019-05 is the same as for ASU 2016-13, or for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company does not expect elect the fair value option on its financial instruments in accordance with ASU 2019-05. |
Stock-Based Compensation
Stock-Based Compensation | 6 Months Ended |
Jun. 30, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation The Company previously awarded equity as a form of compensation under a stock-based incentive plan (the “2016 Plan”). The 2016 Plan was approved by the Company’s stockholders on September 1, 2016. The 2016 Plan provided 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. The 2016 Plan initially had 2,400,000 shares that were available for grant to participants. On May 23, 2019 the Company’s stockholders approved another stock-based incentive plan (the “2019 Plan”) which provides for grants of stock options, SARs, restricted stock, performance shares, and performance units 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 2019 Plan replaces the 2016 Plan and stipulates that no further awards shall be made under prior plans. Therefore, future awards will only be issued from the 2019 Plan. The 2019 Plan provides 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 participants with those of the Company’s stockholders. The 2019 Plan initially had 4,400,000 shares that were 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 the Code. Similarly, under the terms of the plans, 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 participants 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). 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. Under the 2019 Plan, 4,026,459 shares were available for future grants as of June 30, 2019 . 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 and 2019 Plan for the six months ended June 30, 2019 : Number of Shares Weighted- Average Exercise Price Per Share Weighted- Average Remaining Contractual Life (Years) Aggregate Intrinsic Value (Dollars in thousands) Outstanding - January 1, 2019 982,631 $ 15.41 Granted — — Exercised — — Expired (18,962 ) 16.67 Forfeited (18,000 ) 17.18 Outstanding - June 30, 2019 945,669 $ 15.35 5.99 $ 926 Options exercisable - June 30, 2019 799,669 $ 15.02 5.78 $ 926 The following is a summary of restricted stock and performance unit activity under the 2016 Plan and 2019 Plan for the six months ended June 30, 2019 : Number of Shares Weighted- Average Grant Date Fair Value Outstanding (unvested) - January 1, 2019 478,891 $ 16.37 Granted 756,153 13.16 Vested (84,755 ) 16.79 Forfeited (40,986 ) 15.60 Outstanding (unvested) - June 30, 2019 1,109,303 $ 14.18 The total fair value of restricted stock and performance units vested for the six months ended June 30, 2019 and 2018 was $1.2 million and $1.2 million , respectively. In 2017, the Company adopted the Hope Employee Stock Purchase Plan (“ESPP”) which 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 June 30, 2019 and 2018 was $29 thousand and $41 thousand , respectively. The compensation expense for ESPP during the six months ended June 30, 2019 and 2018 was $125 thousand and $189 thousand , respectively. The total amount charged against income related to stock-based payment arrangements, including ESPP, was $1.5 million and $915 thousand for the three months ended June 30, 2019 and 2018 , respectively. For the six months ended June 30, 2019 and 2018 , $2.3 million and $1.9 million , respectively, of stock-based payment arrangements were charged against income. The income tax benefit recognized was approximately $378 thousand and $237 thousand for the three months ended June 30, 2019 and 2018 , respectively. The income tax benefit recognized for the six months ended June 30, 2019 and 2018 , was approximately $585 thousand and $482 thousand , respectively. At June 30, 2019 , the unrecognized compensation expense related to non-vested stock option grants was $338 thousand , and is expected to be recognized over a weighted average vesting period of 2.17 years. Unrecognized compensation expense related to non-vested restricted stock and performance units was $11.0 million , and is expected to be recognized over a weighted average vesting period of 2.22 years. |
Earnings Per Share ("EPS")
Earnings Per Share ("EPS") | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30, 2019 and 2018 , stock options and restricted shares awards for 982,625 and 306,136 shares of common stock, respectively, were excluded in computing diluted earnings per common share because they were anti-dilutive. For the six months ended June 30, 2019 and 2018 , stock options and restricted shares awards for 959,319 and 303,338 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 and 20,673 shares of common stock were anti-dilutive and excluded for the three and six months ended June 30, 2018 . All outstanding warrants expired in December 2018. Therefore there were no warrants outstanding during the three and six months ended June 30, 2019 . During the second quarter of 2018, the Company issued $217.5 million in convertible notes. The convertible notes can be converted into 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 11 “Subordinated Debentures and Convertible Notes” for additional information regarding convertible notes issued). For the three and six months ended June 30, 2019 and 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 six months ended June 30, 2019 and 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. 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. During the year ended December 31, 2018, the Company repurchased 9,002,453 shares of common stock totaling $150.0 million . The repurchased shares were recorded as treasury stock and reduced the total number of common shares outstanding. The following tables show the computation of basic and diluted EPS for the three and six months ended June 30, 2019 and 2018 . Three Months Ended June 30, 2019 2018 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 $ 42,681 126,658,509 $ 0.34 $ 47,530 133,061,304 $ 0.36 Effect of dilutive securities: Stock options, restricted stock, and ESPP shares 211,946 291,537 Diluted EPS - common stock $ 42,681 126,870,455 $ 0.34 $ 47,530 133,352,841 $ 0.36 Six Months Ended June 30, 2019 2018 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 $ 85,439 126,649,536 $ 0.67 $ 98,762 134,283,216 $ 0.74 Effect of dilutive securities: Stock options, restricted stock, and ESPP shares 193,334 293,528 Diluted EPS - common stock $ 85,439 126,842,870 $ 0.67 $ 98,762 134,576,744 $ 0.73 |
Equity Investment Securities
Equity Investment Securities | 6 Months Ended |
Jun. 30, 2019 | |
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”. Upon 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 values at June 30, 2019 , consisted of mutual funds in the amount of $22.1 million and is included in “Equity investments” on the Consolidated Statements of Financial Condition. During the second quarter of 2019, the Company sold its equity stock in other institutions for $2.6 million . There was no change in fair value recorded on the equity investments sold. Equity investments with readily determinable fair values at December 31, 2018, consisted of mutual funds and equity stock in other institutions in the amount of $21.5 million and $1.9 million , respectively. The change in fair value for equity investments with readily determinable fair values for the three and six ended June 30, 2019 and 2018 were recorded in other noninterest income and fees as summarized in the table below: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Net change in fair value recorded during the period on equity investments with readily determinable fair value $ 313 $ (1 ) $ 1,225 $ 3,518 Net change in fair value recorded on equity investments sold during the period — — — — Net change in fair value on equity investments with readily determinable fair values $ 313 $ (1 ) $ 1,225 $ 3,518 At June 30, 2019 and December 31, 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 June 30, 2019 , the total balance of equity investments without readily determinable fair values included in “Equity investments” on the Consolidated Statements of Financial Condition was $26.7 million , consisting of $370 thousand in correspondent bank stock, $1.0 million in Community Development Financial Institutions (“CDFI”) investments, and $25.3 million in Community Reinvestment Act (“CRA”) investments. At December 31, 2018, the total balance of equity investments without readily determinable fair values was $26.4 million , consisting of $370 thousand in correspondent bank stock, $1.0 million in CDFI investments, and $25.1 million in CRA investments. The Company had no impairments or subsequent observable price changes for equity investments without readily determinable fair values for the three and six ended June 30, 2019 and 2018 |
Securities Available for Sale
Securities Available for Sale | 6 Months Ended |
Jun. 30, 2019 | |
Debt Securities, Available-for-sale [Abstract] | |
Securities Available for Sale | Securities Available for Sale The following is a summary of securities available for sale as of the dates indicated: At June 30, 2019 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 $ 842,576 $ 5,443 $ (3,120 ) $ 844,899 Mortgage-backed securities: Residential 369,476 913 (3,213 ) 367,176 Commercial 530,206 13,437 (2,712 ) 540,931 Corporate securities 5,000 — (1,120 ) 3,880 Municipal securities 70,007 565 (555 ) 70,017 Total investment securities available for sale $ 1,817,265 $ 20,358 $ (10,720 ) $ 1,826,903 At December 31, 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 $ 914,710 $ 1,541 $ (21,129 ) $ 895,122 Mortgage-backed securities: Residential 415,659 47 (13,101 ) 402,605 Commercial 481,081 1,024 (12,979 ) 469,126 Corporate securities 5,000 — (1,174 ) 3,826 Municipal securities 77,168 398 (1,980 ) 75,586 Total investment securities available for sale $ 1,893,618 $ 3,010 $ (50,363 ) $ 1,846,265 As of June 30, 2019 and December 31, 2018 , 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. During the three months ended June 30, 2019, the Company recognized net gains on sales of securities available for sale in the amount of $129 thousand . The net gains on sales of securities available for sale consisted of $527 thousand in gross gains offset by $398 thousand in gross losses on investments securities sold. Tax provision recorded on the net gains on sales of securities available for sale was approximately $32 thousand for the three months ended June 30, 2019. The Company received proceeds from the sale of $69.2 million in investment securities, which consisted of $39.5 million municipal securities and $29.7 million mortgage-backed securities sold. For the three or six months ended June 30, 2018, there were no sales of securities available for sale. At June 30, 2019 and December 31, 2018 , $7.4 million in unrealized gains and $32.7 million in unrealized losses on securities available for sale net of taxes, respectively, were included in accumulated other comprehensive loss. For the three and six months ended June 30, 2019 , reclassifications out of accumulated other comprehensive income into earnings was $129 thousand . There were no reclassifications out of accumulated other comprehensive loss into earnings during the three and six months ended June 30, 2018 . The amortized cost and estimated fair value of investment securities at June 30, 2019 , 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 $ 750 $ 752 Due after one year through five years 3,560 3,569 Due after five years through ten years 2,648 2,720 Due after ten years 68,049 66,856 U.S. Government agency and U.S. Government sponsored enterprises: Collateralized mortgage obligations 842,576 844,899 Mortgage-backed securities: Residential 369,476 367,176 Commercial 530,206 540,931 Total $ 1,817,265 $ 1,826,903 Securities with carrying values of approximately $350.4 million and $354.6 million at June 30, 2019 and December 31, 2018 , 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 June 30, 2019 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* — $ — $ — 56 $ 360,072 $ (3,120 ) 56 $ 360,072 $ (3,120 ) Mortgage-backed securities: Residential* — — — 37 309,942 (3,213 ) 37 309,942 (3,213 ) Commercial* — — — 11 147,737 (2,712 ) 11 147,737 (2,712 ) Corporate securities — — — 1 3,881 (1,120 ) 1 3,881 (1,120 ) Municipal securities — — — 3 17,608 (555 ) 3 17,608 (555 ) Total — $ — $ — 108 $ 839,240 $ (10,720 ) 108 $ 839,240 $ (10,720 ) __________________________________ * Investments in U.S. Government agency and U.S. Government sponsored enterprises As of December 31, 2018 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* 1 $ 8,041 $ (28 ) 93 $ 700,095 $ (21,101 ) 94 $ 708,136 $ (21,129 ) Mortgage-backed securities: Residential* 4 19,973 (37 ) 45 363,334 (13,064 ) 49 383,307 (13,101 ) Commercial* 3 38,494 (218 ) 27 312,428 (12,761 ) 30 350,922 (12,979 ) Corporate securities — — — 1 3,826 (1,174 ) 1 3,826 (1,174 ) Municipal securities 13 5,528 (83 ) 32 42,444 (1,897 ) 45 47,972 (1,980 ) Total 21 $ 72,036 $ (366 ) 198 $ 1,422,127 $ (49,997 ) 219 $ 1,494,163 $ (50,363 ) __________________________________ * 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. All of the Company’s investment types had investments that were in a continuous unrealized loss position for twelve months or longer as of June 30, 2019 . The collateralized mortgage obligations in a continuous loss position for twelve months or longer had unrealized losses of $3.1 million at June 30, 2019 , and total residential and commercial mortgage backed securities in a continuous loss position for twelve months or longer had total unrealized losses of $5.9 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 $1.1 million at June 30, 2019 . Municipal securities that were in a continuous loss position for twelve months or longer had unrealized losses of $555 thousand at June 30, 2019 . 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 June 30, 2019 . The Company considers the losses on the investments in unrealized loss positions at June 30, 2019 to be temporary based on: 1) the likelihood of recovery; 2) the information relative to the extent and duration of the decline in market value; and 3) the Company’s intention not to sell, and management’s determination that it is more likely than not that the Company will not be required to sell a security in an unrealized loss position before recovery of its amortized cost basis. |
Loans Receivable and Allowance
Loans Receivable and Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Loans Receivable and Allowance for Loan Losses | Loans Receivable and Allowance for Loan Losses The following is a summary of loans receivable by major category: June 30, 2019 December 31, 2018 Loan portfolio composition (Dollars in thousands) Real estate loans: Residential $ 51,167 $ 51,197 Commercial 8,301,315 8,395,327 Construction 278,370 275,076 Total real estate loans 8,630,852 8,721,600 Commercial business 2,265,287 2,127,630 Trade finance 166,781 197,190 Consumer and other 913,087 1,051,486 Total loans outstanding 11,976,007 12,097,906 Deferred loan costs, net 1,127 209 Loans receivable 11,977,134 12,098,115 Allowance for loan losses (94,066 ) (92,557 ) Loans receivable, net of allowance for loan losses $ 11,883,068 $ 12,005,558 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 businesses 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 six months ended June 30, 2019 and 2018 : Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Balance at beginning of period $ 47,364 $ 54,846 $ 49,697 $ 55,002 Accretion (6,848 ) (5,959 ) (12,682 ) (11,731 ) Reclassification from nonaccretable difference 2,846 4,686 6,347 10,302 Balance at end of period $ 43,362 $ 53,573 $ 43,362 $ 53,573 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 six months ended June 30, 2019 and 2018 : 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 June 30, 2019 Balance, beginning of period $ 45,876 $ 27,376 $ 698 $ 7,004 $ 7,261 $ 5,000 $ — $ 1,002 $ 94,217 Provision (credit) for loan losses 1,195 183 311 14 (636 ) 195 — (62 ) 1,200 Loans charged off (182 ) (922 ) — (343 ) — (629 ) — — (2,076 ) Recoveries of charge offs 265 120 — 1 305 32 — 2 725 Balance, end of period $ 47,154 $ 26,757 $ 1,009 $ 6,676 $ 6,930 $ 4,598 $ — $ 942 $ 94,066 Six Months Ended June 30, 2019 Balance, beginning of period $ 49,446 $ 21,826 $ 719 $ 6,269 $ 7,321 $ 5,939 $ — $ 1,037 $ 92,557 Provision (credit) for loan losses (3,463 ) 6,804 290 952 (675 ) 313 — (21 ) 4,200 Loans charged off (216 ) (2,082 ) — (553 ) (26 ) (877 ) — (76 ) (3,830 ) Recoveries of charge offs 1,387 209 — 8 310 101 — 2 2,017 PCI allowance adjustment — — — — — (878 ) — — (878 ) Balance, end of period $ 47,154 $ 26,757 $ 1,009 $ 6,676 $ 6,930 $ 4,598 $ — $ 942 $ 94,066 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 June 30, 2018 Balance, beginning of period $ 45,977 $ 20,387 $ 1,767 $ 3,934 $ 13,048 $ 1,308 $ 38 $ 2 $ 86,461 Provision (credit) for loan losses 1,776 487 (796 ) 1,086 (141 ) (96 ) (35 ) 19 2,300 Loans charged off (144 ) (446 ) — (229 ) (92 ) (352 ) — — (1,263 ) Recoveries of charge offs 626 1,603 12 8 1 131 — 2 2,383 Balance, end of period $ 48,235 $ 22,031 $ 983 $ 4,799 $ 12,816 $ 991 $ 3 $ 23 $ 89,881 Six Months Ended June 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 2,255 3,776 (715 ) 1,963 (314 ) (2,142 ) (39 ) 16 4,800 Loans charged off (207 ) (788 ) — (576 ) (194 ) (566 ) — — (2,331 ) Recoveries of charge offs 827 1,815 24 27 2 172 — 4 2,871 Balance, end of period $ 48,235 $ 22,031 $ 983 $ 4,799 $ 12,816 $ 991 $ 3 $ 23 $ 89,881 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 June 30, 2019 and December 31, 2018 : June 30, 2019 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 $ 192 $ 4,282 $ 333 $ 11 $ 127 $ 987 $ — $ 1 $ 5,933 Collectively evaluated for impairment 46,962 22,475 676 6,665 1,682 574 — 16 79,050 PCI loans — — — — 5,121 3,037 — 925 9,083 Total $ 47,154 $ 26,757 $ 1,009 $ 6,676 $ 6,930 $ 4,598 $ — $ 942 $ 94,066 Loans outstanding: Individually evaluated for impairment $ 46,785 $ 26,159 $ 2,825 $ 2,266 $ 19,578 $ 4,228 $ 3,318 $ 811 $ 105,970 Collectively evaluated for impairment 7,160,408 2,168,442 160,638 787,980 1,289,871 58,080 — 117,110 11,742,529 PCI loans — — — — 114,210 8,378 — 4,920 127,508 Total $ 7,207,193 $ 2,194,601 $ 163,463 $ 790,246 $ 1,423,659 $ 70,686 $ 3,318 $ 122,841 $ 11,976,007 December 31, 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 $ 176 $ 4,221 $ — $ 3 $ 261 $ 130 $ — $ — $ 4,791 Collectively evaluated for impairment 49,270 17,605 719 6,266 1,264 460 — 19 75,603 PCI loans — — — — 5,796 5,349 — 1,018 12,163 Total $ 49,446 $ 21,826 $ 719 $ 6,269 $ 7,321 $ 5,939 $ — $ 1,037 $ 92,557 Loans outstanding: Individually evaluated for impairment $ 39,976 $ 29,624 $ 5,887 $ 441 $ 18,080 $ 5,734 $ 3,124 $ 1,141 $ 104,007 Collectively evaluated for impairment 7,037,392 1,988,067 188,179 910,292 1,507,858 80,916 — 133,942 11,846,646 PCI loans — — — — 118,294 23,289 — 5,670 147,253 Total $ 7,077,368 $ 2,017,691 $ 194,066 $ 910,733 $ 1,644,232 $ 109,939 $ 3,124 $ 140,753 $ 12,097,906 At June 30, 2019 and December 31, 2018 , the balance of PCI loans that had credit deterioration subsequent to acquisition was $36.4 million and $57.5 million , respectively. PCI loans with subsequent credit deterioration had an allowance for loan losses balance of $9.1 million and $12.2 million at June 30, 2019 and December 31, 2018 , respectively. As of June 30, 2019 and December 31, 2018 , the reserve for unfunded loan commitments recorded in other liabilities was $736 thousand . For the three months ended June 30, 2019 and 2018 , recognized provision for unfunded commitments recorded in credit related expense was $0 and $150 thousand , respectively. For the six months ended June 30, 2019 and 2018 , recognized credit for unfunded commitments recorded in credit related expense was $0 and $50 thousand , 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: June 30, 2019 December 31, 2018 (Dollars in thousands) With allocated specific allowance Without charge off $ 36,966 $ 35,365 With charge off 1,233 681 With no allocated specific allowance Without charge off 57,249 59,607 With charge off 10,522 8,354 Specific allowance on impaired loans (5,933 ) (4,791 ) Impaired loans, net of specific allowance $ 100,037 $ 99,216 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 June 30, 2019 and December 31, 2018 , and the average recorded investment and interest income recognized for the three and six months ended June 30, 2019 and 2018 . Impaired loans with no related allowance are believed by management to be adequately collateralized. As of June 30, 2019 As of December 31, 2018 Total Impaired Loans (1) Recorded Investment (2) Unpaid Contractual Principal Balance Related Allowance Recorded Investment (2) Unpaid Contractual Principal Balance Related Allowance (Dollars in thousands) With related allowance: Real estate – residential $ — $ — $ — $ — $ — $ — Real estate – commercial Retail 2,222 2,492 63 1,375 1,487 156 Hotel & motel 1,789 2,658 103 1,949 2,310 119 Gas station & car wash 61 1,967 — — — — Mixed use 836 924 25 881 947 43 Industrial & warehouse 6,908 8,671 121 1,305 2,139 93 Other 839 1,103 7 7,759 8,174 26 Real estate – construction — — — — — — Commercial business 21,761 23,091 5,269 22,203 23,928 4,351 Trade finance 2,825 2,825 333 — — — Consumer and other 958 966 12 575 575 3 Subtotal $ 38,199 $ 44,697 $ 5,933 $ 36,047 $ 39,560 $ 4,791 With no related allowance: Real estate – residential $ — $ — $ — $ — $ — $ — Real estate – commercial Retail 11,035 11,865 — 8,005 11,234 — Hotel & motel 10,136 20,811 — 10,877 22,590 — Gas station & car wash 456 1,660 — 545 3,653 — Mixed use 3,473 3,576 — 7,048 7,058 — Industrial & warehouse 11,944 12,531 — 12,343 13,467 — Other 16,664 21,123 — 5,969 7,122 — Real estate – construction — — — — — — Commercial business 8,626 14,554 — 13,155 17,850 — Trade finance 3,318 3,318 — 9,011 9,011 — Consumer and other 2,119 2,204 — 1,007 1,156 — Subtotal $ 67,771 $ 91,642 $ — $ 67,960 $ 93,141 $ — Total $ 105,970 $ 136,339 $ 5,933 $ 104,007 $ 132,701 $ 4,791 __________________________________ (1) Impaired loans exclude acquired PCI loans (2) Unpaid contractual principal balance less charge offs, interest collected applied to principal if on nonaccrual and purchase discounts. For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 Total Impaired Loans (1) Average Recorded Investment (2) Interest Income Recognized During Impairment Average Recorded Investment (2) Interest Income Recognized During Impairment Average Recorded Investment (2) Interest Income Recognized During Impairment Average Recorded Investment (2) Interest Income Recognized During Impairment (Dollars in thousands) With related allowance: Real estate – residential $ — $ — $ 125 $ — $ — $ — $ 84 $ — Real estate – commercial Retail 2,133 6 7,088 7 1,880 11 4,902 15 Hotel & motel 1,812 — 2,792 — 1,857 — 2,838 — Gas station & car wash 61 — — — 31 — — — Mixed use 847 2 2,985 39 859 3 2,094 75 Industrial & warehouse 7,249 90 2,616 36 5,267 170 2,002 67 Other 2,597 5 6,655 24 4,318 11 5,902 47 Real estate – construction — — — — — — — — Commercial business 24,019 139 27,487 168 23,414 295 24,435 331 Trade finance 1,463 1 3,146 63 975 2 3,384 121 Consumer and other 956 — 748 6 829 — 673 6 Subtotal $ 41,137 $ 243 $ 53,642 $ 343 $ 39,430 $ 492 $ 46,314 $ 662 With no related allowance: Real estate – residential $ — $ — $ — $ — $ — $ — $ — $ — Real estate – commercial Retail 17,808 35 10,917 36 14,540 70 11,209 71 Hotel & motel 9,946 — 3,713 — 10,256 — 3,423 — Gas station & car wash 494 4 542 — 511 9 558 — Mixed use 5,345 51 2,475 50 5,912 102 2,017 100 Industrial & warehouse 10,998 64 11,886 56 11,447 127 10,733 112 Other 15,524 82 13,587 112 12,339 166 15,819 233 Real estate – construction — — 650 — — — 867 — Commercial business 10,576 62 20,530 37 11,436 121 19,752 63 Trade finance 5,813 52 3,165 47 6,879 102 3,134 90 Consumer and other 1,450 — 1,807 — 1,303 — 1,718 — Subtotal $ 77,954 $ 350 $ 69,272 $ 338 $ 74,623 $ 697 $ 69,230 $ 669 Total $ 119,091 $ 593 $ 122,914 $ 681 $ 114,053 $ 1,189 $ 115,544 $ 1,331 __________________________________ (1) Impaired loans exclude acquired PCI loans (2) Unpaid contractual principal balance less charge offs, interest collected applied to principal if on nonaccrual and purchase discounts. As of June 30, 2019 As of December 31, 2018 Impaired Acquired Loans (1) Recorded Investment (2) Unpaid Contractual Principal Balance Related Allowance Recorded Investment (2) Unpaid Contractual Principal Balance Related Allowance (Dollars in thousands) With related allowance: Real estate – residential $ — $ — $ — $ — $ — $ — Real estate – commercial Retail 810 843 22 198 220 118 Hotel & motel 73 345 3 72 345 4 Gas station & car wash 61 1,967 — — — — Mixed use 293 297 22 312 312 38 Industrial & warehouse 328 1,920 80 230 1,050 88 Other — — — 3,454 3,454 13 Real estate – construction — — — — — — Commercial business 2,022 2,294 987 4,064 5,041 130 Trade finance — — — — — — Consumer and other 131 131 1 144 144 — Subtotal $ 3,718 $ 7,797 $ 1,115 $ 8,474 $ 10,566 $ 391 With no related allowance: Real estate – residential $ — $ — $ — $ — $ — $ — Real estate – commercial Retail 7,155 7,246 — 3,285 4,151 — Hotel & motel 5,350 6,790 — 5,428 6,874 — Gas station & car wash 183 706 — 247 2,673 — Mixed use 194 285 — 3,722 3,726 — Industrial & warehouse — — — 119 894 — Other 5,131 8,448 — 1,013 1,326 — Real estate – construction — — — — — — Commercial business 2,206 3,843 — 1,670 2,681 — Trade finance 3,318 3,318 — 3,124 3,124 — Consumer and other 680 765 — 997 1,144 — Subtotal $ 24,217 $ 31,401 $ — $ 19,605 $ 26,593 $ — Total $ 27,935 $ 39,198 $ 1,115 $ 28,079 $ 37,159 $ 391 __________________________________ (1) Impaired loans exclude acquired PCI loans (2) Unpaid contractual principal balance less charge offs, interest collected applied to principal if on nonaccrual and purchase discounts. For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 Impaired Acquired Loans (1) Average Recorded Investment (2) Interest Income Recognized During Impairment Average Recorded Investment (2) Interest Income Recognized During Impairment Average Recorded Investment (2) Interest Income Recognized During Impairment Average Recorded Investment (2) Interest Income Recognized During Impairment (Dollars in thousands) With related allowance: Real estate – residential $ — $ — $ 125 $ — $ — $ — $ 84 $ — Real estate – commercial Retail 692 — 800 — 527 — 621 — Hotel & motel 73 — 79 — 73 — 81 — Gas station & car wash 30 — — — 20 — — — Mixed use 298 2 2,899 39 303 3 1,976 75 Industrial & warehouse 282 — 266 — 264 — 251 1 Other 544 — 3,314 19 1,999 — 2,316 37 Real estate – construction — — — — — — — — Commercial business 2,998 24 8,243 41 3,353 49 6,158 80 Trade finance — — — — — — — — Consumer and other 133 — 76 2 137 — 51 2 Subtotal $ 5,050 $ 26 $ 15,802 $ 101 $ 6,676 $ 52 $ 11,538 $ 195 With no related allowance: Real estate – residential $ — $ — $ — $ — $ — $ — $ — $ — Real estate – commercial Retail 7,344 30 3,108 31 5,991 60 3,209 61 Hotel & motel 5,371 — 1,029 — 5,390 — 847 — Gas station & car wash 215 — 193 — 225 — 129 — Mixed use 2,049 — 36 — 2,607 — 74 — Industrial & warehouse 93 — 491 — 106 — 342 — Other 4,749 67 4,475 60 3,504 133 6,027 117 Real estate – construction — — — — — — — — Commercial business 1,640 31 8,380 24 1,650 64 6,660 38 Trade finance 3,192 52 3,165 47 3,169 102 3,104 90 Consumer and other 731 — 1,618 — 820 — 1,463 — Subtotal $ 25,384 $ 180 $ 22,495 $ 162 $ 23,462 $ 359 $ 21,855 $ 306 Total $ 30,434 $ 206 $ 38,297 $ 263 $ 30,138 $ 411 $ 33,393 $ 501 __________________________________ (1) Impaired loans exclude acquired PCI loans (2) 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 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 six months ended June 30, 2019 or 2018 . The following table represents 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 June 30, 2019 and December 31, 2018 . Nonaccrual Loans (1) Accruing Loans Past Due 90 or More Days June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 (Dollars in thousands) Legacy Loans: Real estate – residential $ — $ — $ — $ — Real estate – commercial Retail 4,682 5,153 — — Hotel & motel 6,503 7,325 — — Gas station & car wash 31 31 — — Mixed use 717 749 — — Industrial & warehouse 7,278 6,111 — — Other 10,794 5,940 — — Real estate – construction — — — — Commercial business 15,318 14,837 — — Trade finance 2,721 1,661 — — Consumer and other 2,205 441 353 243 Subtotal $ 50,249 $ 42,248 $ 353 $ 243 Acquired Loans: (2) Real estate – residential $ — $ — $ — $ — Real estate – commercial Retail 5,350 829 — — Hotel & motel 5,423 5,500 — 1,286 Gas station & car wash 245 247 — — Mixed use 370 1,224 — — Industrial & warehouse 328 349 — — Other 1,201 259 — — Real estate – construction — — — — Commercial business 958 1,632 — — Trade finance — — — — Consumer and other 810 998 — — Subtotal $ 14,685 $ 11,038 $ — $ 1,286 Total $ 64,934 $ 53,286 $ 353 $ 1,529 __________________________________ (1) Total nonaccrual loans exclude guaranteed portion of delinquent SBA loans that are in liquidation totaling $32.1 million and $29.2 million , at June 30, 2019 and December 31, 2018 , 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 June 30, 2019 and December 31, 2018 by class of loans: As of June 30, 2019 As of December 31, 2018 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 — 811 297 1,108 733 — 809 1,542 Hotel & motel 1,716 347 3,680 5,743 153 — 5,215 5,368 Gas station & car wash 658 — 31 689 — — 31 31 Mixed use — 174 184 358 — — — — Industrial & warehouse 74 849 3,387 4,310 1,465 — 1,922 3,387 Other 8,576 133 7,359 16,068 1,837 — 2,405 4,242 Real estate – construction — — — — — — — — Commercial business 1,450 121 10,671 12,242 5,500 435 7,003 12,938 Trade finance — — 2,721 2,721 1,036 — 1,661 2,697 Consumer and other 5,721 250 1,796 7,767 16,413 140 247 16,800 Subtotal $ 18,195 $ 2,685 $ 30,126 $ 51,006 $ 27,137 $ 575 $ 19,293 $ 47,005 Acquired Loans: (1) Real estate – residential $ — $ — $ — $ — $ — $ — $ — $ — Real estate – commercial Retail — 38 5,001 5,039 347 — 602 949 Hotel & motel — — 4,462 4,462 — — 5,206 5,206 Gas station & car wash — — 221 221 154 — 221 375 Mixed use — — 194 194 107 — 1,034 1,141 Industrial & warehouse 94 120 328 542 142 — 119 261 Other 791 — 203 994 183 219 — 402 Real estate – construction — — — — — — — — Commercial business 84 — 237 321 397 613 253 1,263 Trade finance — — — — — — — — Consumer and other 1,337 709 268 2,314 — — 334 334 Subtotal $ 2,306 $ 867 $ 10,914 $ 14,087 $ 1,330 $ 832 $ 7,769 $ 9,931 Total Past Due $ 20,501 $ 3,552 $ 41,040 $ 65,093 $ 28,467 $ 1,407 $ 27,062 $ 56,936 __________________________________ (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 loans with the exception of homogeneous loans, or loans that are evaluated together in pools of similar loans (i.e., home mortgage loans, home equity lines of credit, overdraft loans, express business loans, and automobile 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 Company 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 June 30, 2019 and December 31, 2018 by class of loans: As of June 30, 2019 Pass/ Not Rated Special Mention Substandard Doubtful Total (Dollars in thousands) Legacy Loans: Real estate – residential $ 45,944 $ — $ 145 $ — $ 46,089 Real estate – commercial Retail 1,784,344 35,150 36,712 — 1,856,206 Hotel & motel 1,389,821 10,341 31,870 — 1,432,032 Gas station & car wash 818,660 2,761 2,122 — 823,543 Mixed use 550,044 12,967 13,559 — 576,570 Industrial & warehouse 721,166 945 34,497 — 756,608 Other 1,375,120 32,591 39,753 — 1,447,464 Real estate – construction 252,432 16,249 — — 268,681 Commercial business 2,119,781 35,789 39,031 — 2,194,601 Trade finance 160,669 73 2,721 — 163,463 Consumer and other 787,796 184 2,266 — 790,246 Subtotal $ 10,005,777 $ 147,050 $ 202,676 $ — $ 10,355,503 Acquired Loans: Real estate – residential $ 4,362 $ 387 $ 329 $ — $ 5,078 Real estate – commercial Retail 401,670 5,844 22,187 — 429,701 Hotel & motel 166,101 298 19,161 — 185,560 Gas station & car wash 121,640 — 5,039 — 126,679 Mixed use 87,781 7,225 4,511 — 99,517 Industrial & warehouse 153,008 4,132 19,708 — 176,848 Other 351,841 10,066 28,680 — 390,587 Real estate – construction — 9,689 — — 9,689 Commercial business 53,607 1,778 15,300 1 70,686 Trade finance — — 3,318 — 3,318 Consumer and other 119,893 16 2,932 — 122,841 Subtotal $ 1,459,903 $ 39,435 $ 121,165 $ 1 $ 1,620,504 Total $ 11,465,680 $ 186,485 $ 323,841 $ 1 $ 11,976,007 As of December 31, 2018 Pass/ Special Mention Substandard Doubtful Total (Dollars in thousands) Legacy Loans: Real estate – residential $ 44,066 $ — $ 546 $ — $ 44,612 Real estate – commercial Retail 1,815,170 18,072 30,686 — 1,863,928 Hotel & motel 1,389,349 21,932 15,869 — 1,427,150 Gas station & car wash 814,291 2,810 2,464 — 819,565 Mixed use 510,021 12,480 13,292 — 535,793 Industrial & warehouse 711,236 1,665 38,332 — 751,233 Other 1,326,795 35,539 34,618 — 1,396,952 Real estate – construction 227,231 10,904 — — 238,135 Commercial business 1,944,783 18,220 54,688 — 2,017,691 Trade finance 191,508 — 2,558 — 194,066 Consumer and other 910,292 — 441 — 910,733 Subtotal $ 9,884,742 $ 121,622 $ 193,494 $ — $ 10,199,858 Acquired Loans: Real estate – residential $ 5,812 $ 393 $ 380 $ — $ 6,585 Real estate – commercial Retail 483,939 4,651 17,332 35 505,957 Hotel & motel 186,761 807 19,472 — 207,040 Gas station & car wash 148,702 274 6,032 — 155,008 Mixed use 77,100 3,986 8,151 — 89,237 Industrial & warehouse 171,574 9,451 18,071 223 199,319 Other 402,247 12,902 28,996 — 444,145 Real estate – construction 29,058 7,883 — — 36,941 Commercial business 89,611 1,083 19,237 8 109,939 Trade finance — — 3,124 — 3,124 Consumer and other 136,944 37 3,626 146 140,753 Subtotal $ 1,731,748 $ 41,467 $ 124,421 $ 412 $ 1,898,048 Total $ 11,616,490 $ 163,089 $ 317,915 $ 412 $ 12,097,906 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 six months ended June 30, 2019 and 2018 is presented in the following table: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Transfer of loans held for investment to held for sale (Dollars in thousands) Consumer $ 49,601 $ — $ 82,991 $ 6,155 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 valuation volatility 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 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 Federal Financial Institutions Examination Council (“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 cu |
Leases
Leases | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Leases | Leases On January 1, 2019, the Company adopted ASU 2016-02, “Leases (Topic 842)”, using the modified retrospective approach under ASC 842 (See footnote 2 “Basis of Presentation” for additional information regarding adoption of ASU 2016-02). The Company’s operating leases are real estate leases which are comprised of bank branches, loan production offices, and office spaces with remaining lease terms ranging from 1 to 11 years as of June 30, 2019. Certain lease arrangements contain extension options which are typically around 5 years . As these extension options are not generally considered reasonably certain of exercise, they are not included in the lease term. At June 30, 2019 , operating lease right-of-use (“ROU”) assets and related liabilities were $60.1 million and $61.2 million , respectively. At June 30, 2019 , the short term operating lease liability totaled $12.5 million and the long term operating lease liability totaled $48.7 million . The Company defines short term operating lease liabilities as liabilities due in twelve months or less and long term lease liabilities are defined as liabilities that are due in more than twelve months at the end of each reporting period. The Company did not have any finance leases at June 30, 2019 . During the six months ended June 30, 2019 , the Company extended seven leases and entered into two new leases ranging from one to five years and reassessed the ROU asset and lease liability related to these leases. Operating lease ROU assets represent the Company’s right to use the underlying asset during the lease term and operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and operating lease liabilities are recognized at lease commencement based on the present value of the remaining lease payments using the Company’s incremental borrowing rate at the lease commencement date. Operating lease expense, which is comprised of amortization of the ROU asset and the implicit interest accreted on the operating lease liability, is recognized on a straight-line basis over the lease term and is recorded in occupancy expense in the Consolidated Statements of Income. The Company’s occupancy expense also includes variable lease costs which is comprised of the Company's share of actual costs for utilities, common area maintenance, property taxes, and insurance that are not included in lease liabilities and are expensed as incurred. Variable lease costs can also include rent escalations based on changes to indices, such as the Consumer Price Index, where the Company estimates future rent increases and records the actual difference to variable costs. The Company uses its incremental borrowing rate to present value lease payments in order to recognize a ROU asset and the related lease liability. The Company calculates its incremental borrowing rate by adding a spread to the FHLB borrowing interest rate at a given period. The table below summarizes the Company’s net lease cost: Three Months Ended Six Months Ended (Dollars in thousands) Operating lease cost $ 4,157 $ 8,280 Short term lease cost — 9 Variable lease cost 833 1,536 Sublease income (156 ) (313 ) Net lease cost $ 4,834 $ 9,512 Rent expense for the three and six months ended June 30, 2019 and June 30, 2018 was $4.8 million and $4.5 million , respectively. Rent expense for the three and six months ended June 30, 2019 and June 30, 2018 was $9.5 million and $9.0 million , respectively. The table below summarizes other information related to the Company’s operating leases: At or for the Three Months Ended At or for the Six Months Ended (Dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows for operating leases $ 3,709 $ 7,372 Right-of-use assets obtained in exchange for lease liabilities, net 1,017 65,263 Weighted-average remaining lease term - operating leases 6.16 years 6.16 years Weighted-average discount rate - operating leases 3.21 % 3.21 % The table below summarizes the maturity of remaining lease liabilities: June 30, 2019 (Dollars in thousands) 2019 $ 7,357 2020 13,410 2021 12,558 2022 8,466 2023 6,383 2024 and thereafter 19,760 Total lease payments 67,934 Less: imputed interest 6,720 Total lease obligations $ 61,214 As of June 30, 2019 , the Company did not have any additional operating lease commitments that have not yet commenced. |
Deposits
Deposits | 6 Months Ended |
Jun. 30, 2019 | |
Banking and Thrift [Abstract] | |
Deposits | Deposits The aggregate amount of time deposits in denominations of more than $250 thousand at June 30, 2019 and December 31, 2018 , was $1.81 billion and $1.77 billion , respectively. Included in time deposits of more than $250 thousand were $300.0 million in California State Treasurer’s deposits at June 30, 2019 and December 31, 2018 . 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 June 30, 2019 and December 31, 2018 , securities with fair values of approximately $333.7 million and $336.8 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 June 30, 2019 and December 31, 2018 , totaled $1.48 billion and $1.57 billion , respectively. Brokered deposits at June 30, 2019 consisted of $266.9 million in money market and NOW accounts and $1.21 billion in time deposits accounts. Brokered deposits at December 31, 2018 consisted of $370.4 million in money market and NOW accounts and $1.20 billion |
Borrowings
Borrowings | 6 Months Ended |
Jun. 30, 2019 | |
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 $3.85 billion at June 30, 2019 , and $3.81 billion at December 31, 2018 . The terms of this credit facility require the Company to pledge eligible collateral with the FHLB equal to at least 100% of outstanding advances. The Company also has an unsecured credit facility with the FHLB that totaled $95.0 million and $91.0 million at June 30, 2019 and December 31, 2018 , respectively. At June 30, 2019 and December 31, 2018 , real estate secured loans with a carrying amount of approximately $6.94 billion and $6.01 billion , respectively, were pledged at the FHLB for outstanding advances and remaining borrowing capacity. At June 30, 2019 and December 31, 2018 , other than FHLB stock, no securities were pledged as collateral at the 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 June 30, 2019 and December 31, 2018 , FHLB advances totaling $695.0 million and $821.3 million , respectively, had weighted average effective interest rates of 1.98% and 1.78% , respectively. FHLB advances at June 30, 2019 and December 31, 2018 had various maturities through December 2022 . The effective interest rate of FHLB advances as of June 30, 2019 ranged between 1.35% and 2.51% . At June 30, 2019 , the Company’s remaining borrowing capacity with the FHLB was $3.13 billion . Although the Company maintains borrowing lines with other banks, there were no federal funds purchased from other banks at June 30, 2019 and December 31, 2018 . At June 30, 2019 , the contractual maturities for outstanding FHLB advances were as follows: June 30, 2019 Scheduled maturities in: (Dollars in thousands) 2019 $ 220,000 2020 185,000 2021 145,000 2022 145,000 Total $ 695,000 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 June 30, 2019 , the outstanding principal balance of the qualifying loans pledged at the FRB was $917.1 million and there were no investment securities pledged. At June 30, 2019 and December 31, 2018 , the total available borrowing capacity at the FRB discount window was $736.3 million and $786.6 million , respectively. There were no borrowings outstanding at the FRB discount window as of June 30, 2019 and December 31, 2018 . |
Subordinated Debentures and Con
Subordinated Debentures and Convertible Notes | 6 Months Ended |
Jun. 30, 2019 | |
Subordinated Borrowings [Abstract] | |
Subordinated Debentures and Convertible Notes | Subordinated Debentures and Convertible Notes Subordinated Debt At June 30, 2019 , 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 June 30, 2019 : 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 5.56% 06/15/2033 Nara Statutory Trust IV 12/22/2003 5,000 5,155 Variable 5.45% 01/07/2034 Nara Statutory Trust V 12/17/2003 10,000 10,310 Variable 5.36% 12/17/2033 Nara Statutory Trust VI 03/22/2007 8,000 8,248 Variable 4.06% 06/15/2037 Center Capital Trust I 12/30/2003 18,000 14,128 Variable 5.45% 01/07/2034 Wilshire Trust II 03/17/2005 20,000 15,634 Variable 4.20% 03/17/2035 Wilshire Trust III 09/15/2005 15,000 11,041 Variable 3.81% 09/15/2035 Wilshire Trust IV 07/10/2007 25,000 17,899 Variable 3.79% 09/15/2037 Saehan Capital Trust I 03/30/2007 20,000 14,907 Variable 3.94% 06/30/2037 Total $ 126,000 $ 102,477 The carrying value of Debentures at June 30, 2019 and December 31, 2018 was $102.5 million and $102.2 million , respectively. At June 30, 2019 and December 31, 2018 , acquired Debentures had remaining discounts of $27.4 million , and $28.0 million . The carrying balance of Debentures is net of remaining discounts and includes common trust securities. The Company’s investment in the common trust securities of the issuer trusts was $3.9 million at June 30, 2019 and December 31, 2018 and is included in other assets. Although the subordinated debt issued by the trusts are not included as a component of stockholders’ equity in the Consolidated Statements of Financial Condition, the debt is treated as capital for regulatory purposes. The Company’s trust preferred security debt issuances are includable in Tier 1 capital up to a maximum of 25% of capital on an aggregate basis as they were grandfathered in under BASEL III. Any amount that exceeds 25% qualifies as 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 buyers 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 into shares of the Company’s 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 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 put the notes back to the Company 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 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 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 on May 11, 2018. The Company repurchased the remaining $24.0 million in stock on the open market during the second and third quarter of 2018. 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 June 30, 2019 and December 31, 2018 is presented in the tables below: As of June 30, 2019 Amortization/ Capitalization Period Gross Accumulated Carrying Amount (Dollars in thousands) Convertible notes principal balance $ 217,500 $ — $ 217,500 Discount 5 years (21,880 ) 4,580 (17,300 ) Issuance costs to be capitalized 5 years (4,119 ) 896 (3,223 ) Carrying balance of convertible notes $ 191,501 $ 5,476 $ 196,977 As of December 31, 2018 Amortization/ Capitalization Period Gross Accumulated Carrying Amount (Dollars in thousands) Convertible notes principal balance $ 217,500 $ — $ 217,500 Discount 5 years (21,880 ) 2,544 (19,336 ) Issuance costs to be capitalized 5 years (4,119 ) 498 (3,621 ) Carrying balance of convertible notes $ 191,501 $ 3,042 $ 194,543 Interest expense on the convertible notes for the three and six months ended June 30, 2019 totaled $2.3 million and $4.6 million , respectively. Interest expense on the convertible notes for the three and six months ended June 30, 2018 totaled $1.2 million . 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 notes will consist of only accrued interest on the coupon. |
Derivative Financial Instrument
Derivative Financial Instruments | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30, 2019 and December 31, 2018 , interest rate swaps related to the Company’s loan hedging program that were outstanding is presented in the following table: June 30, 2019 December 31, 2018 (Dollars in thousands) Interest rate swaps on loans with correspondent banks Notional amount $ 71,201 $ 237,916 Weighted average remaining term (years) 4.6 6.8 Pay fixed rate (weighted average) 3.96 % 4.36 % Received variable rate (weighted average) 4.97 % 4.69 % Estimated fair value $ 646 $ 6,191 Interest rate swaps on loans with correspondent banks Notional amount $ 221,900 $ 36,972 Weighted average remaining term (years) 7.0 6.4 Pay fixed rate (weighted average) 4.65 % 5.12 % Received variable rate (weighted average) 4.77 % 4.56 % Estimated fair value $ (8,414 ) $ (868 ) Back to back interest rate swaps with loan customers Notional amount $ 71,201 $ 237,916 Weighted average remaining term (years) 4.6 6.8 Received fixed rate (weighted average) 3.96 % 4.36 % Pay variable rate (weighted average) 4.97 % 4.69 % Estimated fair value $ (646 ) $ (6,191 ) Back to back interest rate swaps with loan customers Notional amount $ 221,900 $ 36,972 Weighted average remaining term (years) 7.0 6.4 Received variable rate (weighted average) 4.65 % 5.12 % Pay fixed rate (weighted average) 4.77 % 4.56 % Estimated fair value $ 8,414 $ 868 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 June 30, 2019 , the Company had approximately $23.5 million in interest rate lock commitments and total forward sales commitments for the future delivery of residential mortgage loans. At December 31, 2018 , the Company had approximately $874 thousand 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 June 30, 2019 As of December 31, 2018 Notional Amount Fair Value Notional Amount Fair Value (Dollars in thousands) Assets: Interest rate lock commitments $ 16,710 $ 142 $ 874 $ 10 Forward sale contracts related to mortgage banking $ 8,397 $ 23 $ — $ — Liabilities: Interest rate lock commitments $ 6,805 $ 38 $ — $ — Forward sale contracts related to mortgage banking $ 15,118 $ 58 $ 874 $ 3 |
Commitments and contingencies
Commitments and contingencies | 6 Months Ended |
Jun. 30, 2019 | |
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, and mortgage derivatives. 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 June 30, 2019 and December 31, 2018 are summarized as follows: June 30, 2019 December 31, 2018 (Dollars in thousands) Commitments to extend credit $ 1,655,373 $ 1,712,032 Standby letters of credit 85,052 69,763 Other letters of credit 61,792 65,822 Commitments to fund investments in affordable housing partnerships 34,217 46,507 In the normal course of business, the Company is involved in various legal claims. The Company 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 $170 thousand at June 30, 2019 and $755 thousand at December 31, 2018 . 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 the Company believes has little to no merit. The Company 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 | 6 Months Ended |
Jun. 30, 2019 | |
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, 2018, the Company 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 June 30, 2019 and December 31, 2018 was $464.5 million . There was no impairment of goodwill during the three and six months ended June 30, 2019 . 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 $557 thousand and $615 thousand for the three months ended June 30, 2019 and 2018 , respectively. The amortization expense related to core deposit intangible assets totaled $1.1 million and $1.2 million for the six months ended June 30, 2019 and 2018 , respectively. The following table provides information regarding the core deposit intangibles at June 30, 2019 and December 31, 2018 : As of June 30, 2019 As of December 31, 2018 Core Deposit Intangibles Related To: Amortization Period Gross Amount Accumulated Amortization Carrying Amount Accumulated Carrying Amount (Dollars in thousands) Center Financial acquisition 7 years $ 4,100 $ (4,100 ) $ — $ (4,100 ) $ — Pacific International Bank acquisition 7 years 604 (590 ) 14 (579 ) 25 Foster Bankshares acquisition 10 years 2,763 (2,007 ) 756 (1,893 ) 870 Wilshire Bancorp acquisition 10 years 18,138 (5,961 ) 12,177 (4,972 ) 13,166 Total $ 25,605 $ (12,658 ) $ 12,947 $ (11,544 ) $ 14,061 Servicing assets are recognized when SBA and residential mortgage loans are sold with the servicing retained by the Company and the related income is recorded as a component of 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 June 30, 2019 and December 31, 2018 , the Company did not have a valuation allowance on it servicing assets. The changes in servicing assets for the three and six months ended June 30, 2019 and 2018 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Balance at beginning of period $ 21,407 $ 24,866 $ 23,132 $ 24,710 Additions through originations of servicing assets 619 1,600 946 3,316 Amortization (2,029 ) (2,086 ) (4,081 ) (3,646 ) Adjustments — 670 — 670 Balance at end of period $ 19,997 $ 25,050 $ 19,997 $ 25,050 Loans serviced for others are not reported as assets. The principal balances of loans serviced for other institutions were $1.56 billion as of June 30, 2019 and $1.55 billion as of December 31, 2018 . 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 June 30, 2019 and December 31, 2018 are presented below. June 30, 2019 December 31, 2018 SBA Servicing Assets: Weighted-average discount rate 10.98% 11.23% Constant prepayment rate 13.40% 11.09% Mortgage Servicing Assets: Weighted-average discount rate 9.25% 10.25% Constant prepayment rate 9.86% 7.13% |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes For the three months ended June 30, 2019 , the Company had an income tax provision totaling $14.3 million on pretax income of $56.9 million , representing an effective tax rate of 25.04% , compared with an income tax provision of $16.6 million on pretax income of $64.2 million , representing an effective tax rate of 25.92% for the three months ended June 30, 2018 . For the six months ended June 30, 2019 , the Company had an income tax provision totaling $28.7 million on pretax income of $114.1 million , representing an effective tax rate of 25.14% , compared with an income tax provision of $34.4 million on pretax income of $133.1 million , representing an effective tax rate of 25.81% for the six months ended June 30, 2018 . The reduction in effective tax rate for the three and six months ended June 30, 2019 compared to the three and six months ended June 30, 2018 was primarily due to the increase in affordable housing partnership investment tax credits. 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 $2.3 million at June 30, 2019 and $2.3 million at December 31, 2018 , 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 $520 thousand and $470 thousand , for accrued interest ( no portion was related to penalties) at June 30, 2019 and December 31, 2018 , respectively. Management believes it is reasonably possible that the unrecognized tax benefits may decrease by $2.3 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 a nd Texas Comptroller for the 2015, 2016, and 2017 tax years. 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 June 30, 2019 . |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2019 | |
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 was derived from the security’s underlying collateral, which included discount rate, 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 could result in a significant increase or decrease in the fair value measurement. Equity Investments With Readily Determinable Fair Value The fair value of the Company’s 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% . Appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and income approach. Adjustment may be made in the appraisal process by the independent appraiser to adjust for differences between the comparable sales and income data available for similar loans and the underlying collateral. For commercial and industrial and asset backed loans, independent valuations may include 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 June 30, 2019 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 $ 844,899 $ — $ 844,899 $ — Mortgage-backed securities: Residential 367,176 — 367,176 — Commercial 540,931 — 540,931 — Corporate securities 3,880 — 3,880 — Municipal securities 70,017 — 68,930 1,087 Equity investments with readily determinable fair value 22,061 22,061 — — Interest rate swaps 9,060 — 9,060 — Mortgage banking derivatives 165 — 165 — Liabilities: Interest rate swaps 9,060 — 9,060 — Mortgage banking derivatives 96 — 96 — Fair Value Measurements at the End of the Reporting Period Using December 31, 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 $ 895,122 $ — $ 895,122 $ — Mortgage-backed securities: Residential 402,605 — 402,605 — Commercial 469,126 — 469,126 — Corporate securities 3,826 — 3,826 — Municipal securities 75,586 — 74,527 1,059 Equity investments with readily determinable fair value 23,405 23,405 — — Interest rate swaps 7,059 — 7,059 — Mortgage banking derivatives 10 — 10 — Liabilities: Interest rate swaps 7,059 — 7,059 — Mortgage banking derivatives 3 — 3 — There were no transfers between Level 1, 2, and 3 during the three and six months ended June 30, 2019 and 2018 . 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 six months ended June 30, 2019 and 2018 : Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Beginning Balance $ 1,068 $ 1,079 $ 1,059 $ 1,108 Change in fair value included in other comprehensive income (loss) 19 (14 ) 28 (43 ) Ending Balance $ 1,087 $ 1,065 $ 1,087 $ 1,065 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 June 30, 2019 Quoted Prices Significant Significant (Dollars in thousands) Assets: Impaired loans at fair value: Real estate loans $ 9,014 $ — $ — $ 9,014 Commercial business 13,511 — — 13,511 Trade finance 2,721 — — 2,721 OREO 4,497 — — 4,497 Fair Value Measurements at the End of the Reporting Period Using December 31, 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: Impaired loans at fair value: Real estate loans $ 9,379 $ — $ — $ 9,379 Commercial business 9,951 — — 9,951 Consumer 66 — — 66 OREO 5,659 — — 5,659 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 June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Assets: Impaired loans at fair value: Real estate loans $ 525 $ 966 $ 1,573 $ (4,606 ) Commercial business (336 ) 1,513 (3,567 ) 614 Trade Finance (333 ) (240 ) (333 ) (225 ) Consumer (343 ) 448 (628 ) (763 ) OREO 77 192 139 264 Fair Value of Financial Instruments Carrying amounts and estimated fair values of financial instruments, not previously presented, at June 30, 2019 and December 31, 2018 were as follows: June 30, 2019 Carrying Estimated Fair Value Measurement Using (Dollars in thousands) Financial Assets: Cash and cash equivalents $ 609,795 $ 609,795 Level 1 Interest bearing deposits in other financial institutions 30,632 30,714 Level 2 Equity investments without readily determinable fair values 26,689 26,689 Level 2 Loans held for sale 6,426 6,516 Level 2 Loans receivable—net 11,883,068 11,756,995 Level 3 Accrued interest receivable 33,980 33,980 Level 2/3 Servicing assets, net 19,997 21,693 Level 3 Customers’ liabilities on acceptances 1,696 1,696 Level 2 Financial Liabilities: Noninterest bearing deposits $ 3,009,218 $ 3,009,218 Level 2 Saving and other interest bearing demand deposits 3,482,806 3,482,806 Level 2 Time deposits 5,680,360 5,707,901 Level 2 FHLB advances 695,000 697,013 Level 2 Convertible notes, net 196,977 199,030 Level 1 Subordinated debentures 102,477 117,726 Level 2 Accrued interest payable 36,987 36,987 Level 2 Acceptances outstanding 1,696 1,696 Level 2 December 31, 2018 Carrying Estimated Fair Value Measurement Using (Dollars in thousands) Financial Assets: Cash and cash equivalents $ 459,606 $ 459,606 Level 1 Interest bearing deposits in other financial institutions 29,409 29,374 Level 2 Equity investments without readily determinable fair values 26,430 26,430 Level 2 Loans held for sale 25,128 25,943 Level 2 Loans receivable—net 12,005,558 11,913,906 Level 3 Accrued interest receivable 32,225 32,225 Level 2/3 Servicing assets, net 23,132 24,762 Level 3 Customers’ liabilities on acceptances 2,281 2,281 Level 2 Financial Liabilities: Noninterest bearing deposits $ 3,022,633 $ 3,022,633 Level 2 Saving and other interest bearing demand deposits 3,262,399 3,262,399 Level 2 Time deposits 5,870,624 5,889,030 Level 2 FHLB advances 821,280 810,812 Level 2 Convertible debt 194,543 180,525 Level 1 Subordinated debentures 101,929 116,542 Level 2 Accrued interest payable 31,374 31,374 Level 2 Acceptances outstanding 2,281 2,281 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. Prior to the adoption of ASU 2016-01, 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, equity investments without readily determinable fair values, 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. The fair value of commitments to fund loans represents fees currently charged to enter into similar agreements with similar remaining maturities and is not presented herein. The fair value of these financial instruments is not material to the consolidated financial statements. |
Stockholders' Equity
Stockholders' Equity | 6 Months Ended |
Jun. 30, 2019 | |
Equity [Abstract] | |
Stockholders’ Equity | Stockholders’ Equity Total stockholders’ equity at June 30, 2019 was $2.00 billion , compared to $1.90 billion at December 31, 2018 . 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. On September 20, 2018, the Company’s Board of Directors approved another share repurchase program that authorizes the Company to repurchase an additional $50 million of its common stock. During the fourth quarter of 2018, the Company repurchased 3,436,757 shares of common stock totaling $50.0 million as part of this share repurchase program which was recorded as treasury stock. The Company paid a quarterly dividend of $0.14 per common share during the second quarter of 2019 compared to $0.13 per common share paid during the second quarter of 2018 . For the six months ended June 30, 2019 and 2018 , the Company paid total dividends of $0.28 and $0.26 per common share, respectively. The following table presents the quarterly changes to accumulated other comprehensive income (loss) for the three and six months ended June 30, 2019 and June 30, 2018 : Three Months Ended, Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (Dollars in thousands) Balance at beginning of period $ (15,358 ) $ (38,640 ) $ (32,705 ) $ (21,781 ) Unrealized gain (loss) on securities available for sale 32,523 (9,249 ) 57,189 (33,898 ) Reclassification adjustments for net gains realize in net income (129 ) — (129 ) — Tax effect (9,613 ) 2,767 (16,932 ) 10,276 Total other comprehensive income (loss) $ 22,781 $ (6,482 ) $ 40,128 $ (23,622 ) Reclassification to retained earnings per ASU 2016-01 — — — 281 Balance at end of period $ 7,423 $ (45,122 ) $ 7,423 $ (45,122 ) During the second quarter of 2019, the Company recorded a reclassification adjustment of $129 thousand from other comprehensive income to net gains on sale of securities in the Consolidated Statements of Income for investment securities that were sold during the quarter. 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 six months ended and June 30, 2019 and 2018 , there were no other reclassifications out of accumulated other comprehensive (loss) income. |
Regulatory Matters
Regulatory Matters | 6 Months Ended |
Jun. 30, 2019 | |
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 result in 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 the Dodd-Frank Act and to implement the Basel III international agreements reached by the Basel Committee. The final rules became effective for the Company and the Bank on January 1, 2015 and were 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 was established for “Common Equity Tier 1” as a subset of Tier 1 capital limited to common equity; • A minimum non-risk-based leverage ratio was 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 was added 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 increased 0.625% annually until 2019. As of June 30, 2019 , the capital conservation buffer for the Company stood at 2.50%. As of June 30, 2019 , the ratios for the Company and the Bank were sufficient to meet the fully phased-in conservation buffer. As of June 30, 2019 and December 31, 2018 , 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 June 30, 2019 Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Common equity Tier 1 capital (to risk weighted assets): Company $ 1,512,921 11.90 % $ 572,206 4.50 % $ 890,098 7.00 % N/A N/A Bank $ 1,784,216 14.03 % $ 572,138 4.50 % $ 889,992 7.00 % $ 826,421 6.50 % Total capital (to risk-weighted assets): Company $ 1,706,299 13.42 % $ 1,017,255 8.00 % $ 1,335,147 10.50 % N/A N/A Bank $ 1,879,018 14.78 % $ 1,017,134 8.00 % $ 1,334,988 10.50 % $ 1,271,417 10.00 % Tier 1 capital Company $ 1,611,497 12.67 % $ 762,941 6.00 % $ 1,080,833 8.50 % N/A N/A Bank $ 1,784,216 14.03 % $ 762,850 6.00 % $ 889,992 8.50 % $ 1,017,134 8.00 % Tier 1 capital Company $ 1,611,497 10.94 % $ 589,066 4.00 % N/A N/A N/A N/A Bank $ 1,784,216 12.11 % $ 589,225 4.00 % N/A N/A $ 736,532 5.00 % Actual Required Minimum Capital Adequacy With Capital Conservation Buffer Required As of December 31, 2018 Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Common equity Tier 1 capital (to risk weighted assets): Company $ 1,458,344 11.44 % $ 573,723 4.50 % $ 812,774 6.375 % N/A N/A Bank $ 1,737,092 13.63 % $ 573,669 4.50 % $ 812,740 6.375 % $ 828,677 6.50 % Total capital (to risk-weighted assets): Company $ 1,649,664 12.94 % $ 1,019,952 8.00 % $ 1,259,004 9.875 % N/A N/A Bank $ 1,830,385 14.36 % $ 1,019,910 8.00 % $ 1,258,951 9.875 % $ 1,274,887 10.00 % Tier 1 capital Company $ 1,556,371 12.21 % $ 764,964 6.00 % $ 1,004,015 7.875 % N/A N/A Bank $ 1,737,092 13.63 % $ 764,932 6.00 % $ 812,740 7.875 % $ 1,019,910 8.00 % Tier 1 capital Company $ 1,556,371 10.55 % $ 590,176 4.00 % N/A N/A N/A N/A Bank $ 1,737,092 11.76 % $ 590,639 4.00 % N/A N/A $ 738,299 5.00 % |
Revenue Recognition
Revenue Recognition | 6 Months Ended |
Jun. 30, 2019 | |
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. 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 June 30, Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Noninterest bearing deposit account income: Monthly service charges $ 406 $ 446 $ 829 $ 885 Customer analysis charges 1,871 2,036 3,594 4,060 NSF charges 1,926 1,895 3,868 3,986 Other service charges 197 221 410 454 Total noninterest bearing deposit account income 4,400 4,598 8,701 9,385 Interest bearing deposit account income: Monthly service charges 16 15 32 29 Total service fees on deposit accounts $ 4,416 $ 4,613 $ 8,733 $ 9,414 Wire transfer fee income: Wire transfer fees $ 1,166 $ 1,149 $ 2,100 $ 2,229 Foreign exchange fees 145 101 300 228 Total wire transfer fees $ 1,311 $ 1,250 $ 2,400 $ 2,457 OREO Income (Expense) OREO are often sold in transactions that, under ASC 606, 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 loss on sale of OREO in the amount of $16 thousand and $13 thousand for the three and six months ended June 30, 2019 , respectively. For the three and six months ended June 30, 2018 , the Company recognized a gain on sale of OREO in the amount of $79 thousand and $151 thousand |
Basis of Presentation Basis of
Basis of Presentation Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30, 2019 and December 31, 2018 and the results of operations for the three and six months ended June 30, 2019 and 2018 . 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 | g Accounting Pronouncements 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”. The FASB subsequently issued ASU 2018-19, ASU 2019-04, and ASU 2019-05 to provide additional clarification, implementation, codification improvements, and transition guidance related to ASU 2016-13. 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 also engaged a software vendor to assist the Company to consolidate its models to arrive at a lifetime expected credit losses in compliance with ASU 2016-13 by the effective date. The Company is currently finalizing and documenting its methodologies and developing new processes, policies, and controls under the new guidance in preparation of performing a full end to end parallel run. 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. 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 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. 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. Recent Accounting Pronouncements In May 2019, the FASB issued ASU 2019-05, “Financial Instruments - Credit Losses, Topic 326.” ASU 2019-05 addresses certain stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. ASU 2016-13 allows companies to irrevocably elect, upon adoption of ASU 2016-13, the fair value option on financial instruments that (1) were previously recorded at amortized cost and (2) are within the scope of ASC 326-20 if the instruments are eligible for the fair value option under ASC 825-10. Entities are required to make this election on an instrument-by-instrument basis. The effective date for ASU 2019-05 is the same as for ASU 2016-13, or for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company does not expect elect the fair value option on its financial instruments in accordance with ASU 2019-05. |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Summary of Stock Option Activity Under the Plan | The following is a summary of stock option activity under the 2016 Plan and 2019 Plan for the six months ended June 30, 2019 : Number of Shares Weighted- Average Exercise Price Per Share Weighted- Average Remaining Contractual Life (Years) Aggregate Intrinsic Value (Dollars in thousands) Outstanding - January 1, 2019 982,631 $ 15.41 Granted — — Exercised — — Expired (18,962 ) 16.67 Forfeited (18,000 ) 17.18 Outstanding - June 30, 2019 945,669 $ 15.35 5.99 $ 926 Options exercisable - June 30, 2019 799,669 $ 15.02 5.78 $ 926 |
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 and 2019 Plan for the six months ended June 30, 2019 : Number of Shares Weighted- Average Grant Date Fair Value Outstanding (unvested) - January 1, 2019 478,891 $ 16.37 Granted 756,153 13.16 Vested (84,755 ) 16.79 Forfeited (40,986 ) 15.60 Outstanding (unvested) - June 30, 2019 1,109,303 $ 14.18 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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 six months ended June 30, 2019 and 2018 . Three Months Ended June 30, 2019 2018 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 $ 42,681 126,658,509 $ 0.34 $ 47,530 133,061,304 $ 0.36 Effect of dilutive securities: Stock options, restricted stock, and ESPP shares 211,946 291,537 Diluted EPS - common stock $ 42,681 126,870,455 $ 0.34 $ 47,530 133,352,841 $ 0.36 Six Months Ended June 30, 2019 2018 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 $ 85,439 126,649,536 $ 0.67 $ 98,762 134,283,216 $ 0.74 Effect of dilutive securities: Stock options, restricted stock, and ESPP shares 193,334 293,528 Diluted EPS - common stock $ 85,439 126,842,870 $ 0.67 $ 98,762 134,576,744 $ 0.73 |
Equity Investment Securities (T
Equity Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule Of Change In Fair Value For Equity Investment Securities | he change in fair value for equity investments with readily determinable fair values for the three and six ended June 30, 2019 and 2018 were recorded in other noninterest income and fees as summarized in the table below: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Net change in fair value recorded during the period on equity investments with readily determinable fair value $ 313 $ (1 ) $ 1,225 $ 3,518 Net change in fair value recorded on equity investments sold during the period — — — — Net change in fair value on equity investments with readily determinable fair values $ 313 $ (1 ) $ 1,225 $ 3,518 |
Securities Available for Sale (
Securities Available for Sale (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Debt Securities, Available-for-sale [Abstract] | |
Summary of Securities Available for Sale | The following is a summary of securities available for sale as of the dates indicated: At June 30, 2019 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 $ 842,576 $ 5,443 $ (3,120 ) $ 844,899 Mortgage-backed securities: Residential 369,476 913 (3,213 ) 367,176 Commercial 530,206 13,437 (2,712 ) 540,931 Corporate securities 5,000 — (1,120 ) 3,880 Municipal securities 70,007 565 (555 ) 70,017 Total investment securities available for sale $ 1,817,265 $ 20,358 $ (10,720 ) $ 1,826,903 At December 31, 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 $ 914,710 $ 1,541 $ (21,129 ) $ 895,122 Mortgage-backed securities: Residential 415,659 47 (13,101 ) 402,605 Commercial 481,081 1,024 (12,979 ) 469,126 Corporate securities 5,000 — (1,174 ) 3,826 Municipal securities 77,168 398 (1,980 ) 75,586 Total investment securities available for sale $ 1,893,618 $ 3,010 $ (50,363 ) $ 1,846,265 |
Investments Classified by Contractual Maturity Date | The amortized cost and estimated fair value of investment securities at June 30, 2019 , 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 $ 750 $ 752 Due after one year through five years 3,560 3,569 Due after five years through ten years 2,648 2,720 Due after ten years 68,049 66,856 U.S. Government agency and U.S. Government sponsored enterprises: Collateralized mortgage obligations 842,576 844,899 Mortgage-backed securities: Residential 369,476 367,176 Commercial 530,206 540,931 Total $ 1,817,265 $ 1,826,903 |
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 June 30, 2019 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* — $ — $ — 56 $ 360,072 $ (3,120 ) 56 $ 360,072 $ (3,120 ) Mortgage-backed securities: Residential* — — — 37 309,942 (3,213 ) 37 309,942 (3,213 ) Commercial* — — — 11 147,737 (2,712 ) 11 147,737 (2,712 ) Corporate securities — — — 1 3,881 (1,120 ) 1 3,881 (1,120 ) Municipal securities — — — 3 17,608 (555 ) 3 17,608 (555 ) Total — $ — $ — 108 $ 839,240 $ (10,720 ) 108 $ 839,240 $ (10,720 ) __________________________________ * Investments in U.S. Government agency and U.S. Government sponsored enterprises As of December 31, 2018 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* 1 $ 8,041 $ (28 ) 93 $ 700,095 $ (21,101 ) 94 $ 708,136 $ (21,129 ) Mortgage-backed securities: Residential* 4 19,973 (37 ) 45 363,334 (13,064 ) 49 383,307 (13,101 ) Commercial* 3 38,494 (218 ) 27 312,428 (12,761 ) 30 350,922 (12,979 ) Corporate securities — — — 1 3,826 (1,174 ) 1 3,826 (1,174 ) Municipal securities 13 5,528 (83 ) 32 42,444 (1,897 ) 45 47,972 (1,980 ) Total 21 $ 72,036 $ (366 ) 198 $ 1,422,127 $ (49,997 ) 219 $ 1,494,163 $ (50,363 ) __________________________________ * 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) | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Summary of Loans Receivable by Major Category | The following is a summary of loans receivable by major category: June 30, 2019 December 31, 2018 Loan portfolio composition (Dollars in thousands) Real estate loans: Residential $ 51,167 $ 51,197 Commercial 8,301,315 8,395,327 Construction 278,370 275,076 Total real estate loans 8,630,852 8,721,600 Commercial business 2,265,287 2,127,630 Trade finance 166,781 197,190 Consumer and other 913,087 1,051,486 Total loans outstanding 11,976,007 12,097,906 Deferred loan costs, net 1,127 209 Loans receivable 11,977,134 12,098,115 Allowance for loan losses (94,066 ) (92,557 ) Loans receivable, net of allowance for loan losses $ 11,883,068 $ 12,005,558 |
Loans and Leases Acquired, Accretable Yield Movement Schedule | The following table presents changes in the accretable discount on PCI loans for the three and six months ended June 30, 2019 and 2018 : Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Balance at beginning of period $ 47,364 $ 54,846 $ 49,697 $ 55,002 Accretion (6,848 ) (5,959 ) (12,682 ) (11,731 ) Reclassification from nonaccretable difference 2,846 4,686 6,347 10,302 Balance at end of period $ 43,362 $ 53,573 $ 43,362 $ 53,573 |
Allowance for Loan Losses by Portfolio Segment | The following tables detail the activity in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2019 and 2018 : 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 June 30, 2019 Balance, beginning of period $ 45,876 $ 27,376 $ 698 $ 7,004 $ 7,261 $ 5,000 $ — $ 1,002 $ 94,217 Provision (credit) for loan losses 1,195 183 311 14 (636 ) 195 — (62 ) 1,200 Loans charged off (182 ) (922 ) — (343 ) — (629 ) — — (2,076 ) Recoveries of charge offs 265 120 — 1 305 32 — 2 725 Balance, end of period $ 47,154 $ 26,757 $ 1,009 $ 6,676 $ 6,930 $ 4,598 $ — $ 942 $ 94,066 Six Months Ended June 30, 2019 Balance, beginning of period $ 49,446 $ 21,826 $ 719 $ 6,269 $ 7,321 $ 5,939 $ — $ 1,037 $ 92,557 Provision (credit) for loan losses (3,463 ) 6,804 290 952 (675 ) 313 — (21 ) 4,200 Loans charged off (216 ) (2,082 ) — (553 ) (26 ) (877 ) — (76 ) (3,830 ) Recoveries of charge offs 1,387 209 — 8 310 101 — 2 2,017 PCI allowance adjustment — — — — — (878 ) — — (878 ) Balance, end of period $ 47,154 $ 26,757 $ 1,009 $ 6,676 $ 6,930 $ 4,598 $ — $ 942 $ 94,066 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 June 30, 2018 Balance, beginning of period $ 45,977 $ 20,387 $ 1,767 $ 3,934 $ 13,048 $ 1,308 $ 38 $ 2 $ 86,461 Provision (credit) for loan losses 1,776 487 (796 ) 1,086 (141 ) (96 ) (35 ) 19 2,300 Loans charged off (144 ) (446 ) — (229 ) (92 ) (352 ) — — (1,263 ) Recoveries of charge offs 626 1,603 12 8 1 131 — 2 2,383 Balance, end of period $ 48,235 $ 22,031 $ 983 $ 4,799 $ 12,816 $ 991 $ 3 $ 23 $ 89,881 Six Months Ended June 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 2,255 3,776 (715 ) 1,963 (314 ) (2,142 ) (39 ) 16 4,800 Loans charged off (207 ) (788 ) — (576 ) (194 ) (566 ) — — (2,331 ) Recoveries of charge offs 827 1,815 24 27 2 172 — 4 2,871 Balance, end of period $ 48,235 $ 22,031 $ 983 $ 4,799 $ 12,816 $ 991 $ 3 $ 23 $ 89,881 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 June 30, 2019 and December 31, 2018 : June 30, 2019 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 $ 192 $ 4,282 $ 333 $ 11 $ 127 $ 987 $ — $ 1 $ 5,933 Collectively evaluated for impairment 46,962 22,475 676 6,665 1,682 574 — 16 79,050 PCI loans — — — — 5,121 3,037 — 925 9,083 Total $ 47,154 $ 26,757 $ 1,009 $ 6,676 $ 6,930 $ 4,598 $ — $ 942 $ 94,066 Loans outstanding: Individually evaluated for impairment $ 46,785 $ 26,159 $ 2,825 $ 2,266 $ 19,578 $ 4,228 $ 3,318 $ 811 $ 105,970 Collectively evaluated for impairment 7,160,408 2,168,442 160,638 787,980 1,289,871 58,080 — 117,110 11,742,529 PCI loans — — — — 114,210 8,378 — 4,920 127,508 Total $ 7,207,193 $ 2,194,601 $ 163,463 $ 790,246 $ 1,423,659 $ 70,686 $ 3,318 $ 122,841 $ 11,976,007 December 31, 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 $ 176 $ 4,221 $ — $ 3 $ 261 $ 130 $ — $ — $ 4,791 Collectively evaluated for impairment 49,270 17,605 719 6,266 1,264 460 — 19 75,603 PCI loans — — — — 5,796 5,349 — 1,018 12,163 Total $ 49,446 $ 21,826 $ 719 $ 6,269 $ 7,321 $ 5,939 $ — $ 1,037 $ 92,557 Loans outstanding: Individually evaluated for impairment $ 39,976 $ 29,624 $ 5,887 $ 441 $ 18,080 $ 5,734 $ 3,124 $ 1,141 $ 104,007 Collectively evaluated for impairment 7,037,392 1,988,067 188,179 910,292 1,507,858 80,916 — 133,942 11,846,646 PCI loans — — — — 118,294 23,289 — 5,670 147,253 Total $ 7,077,368 $ 2,017,691 $ 194,066 $ 910,733 $ 1,644,232 $ 109,939 $ 3,124 $ 140,753 $ 12,097,906 |
Impaired Financing Receivables | 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: June 30, 2019 December 31, 2018 (Dollars in thousands) With allocated specific allowance Without charge off $ 36,966 $ 35,365 With charge off 1,233 681 With no allocated specific allowance Without charge off 57,249 59,607 With charge off 10,522 8,354 Specific allowance on impaired loans (5,933 ) (4,791 ) Impaired loans, net of specific allowance $ 100,037 $ 99,216 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 June 30, 2019 and December 31, 2018 , and the average recorded investment and interest income recognized for the three and six months ended June 30, 2019 and 2018 . Impaired loans with no related allowance are believed by management to be adequately collateralized. As of June 30, 2019 As of December 31, 2018 Total Impaired Loans (1) Recorded Investment (2) Unpaid Contractual Principal Balance Related Allowance Recorded Investment (2) Unpaid Contractual Principal Balance Related Allowance (Dollars in thousands) With related allowance: Real estate – residential $ — $ — $ — $ — $ — $ — Real estate – commercial Retail 2,222 2,492 63 1,375 1,487 156 Hotel & motel 1,789 2,658 103 1,949 2,310 119 Gas station & car wash 61 1,967 — — — — Mixed use 836 924 25 881 947 43 Industrial & warehouse 6,908 8,671 121 1,305 2,139 93 Other 839 1,103 7 7,759 8,174 26 Real estate – construction — — — — — — Commercial business 21,761 23,091 5,269 22,203 23,928 4,351 Trade finance 2,825 2,825 333 — — — Consumer and other 958 966 12 575 575 3 Subtotal $ 38,199 $ 44,697 $ 5,933 $ 36,047 $ 39,560 $ 4,791 With no related allowance: Real estate – residential $ — $ — $ — $ — $ — $ — Real estate – commercial Retail 11,035 11,865 — 8,005 11,234 — Hotel & motel 10,136 20,811 — 10,877 22,590 — Gas station & car wash 456 1,660 — 545 3,653 — Mixed use 3,473 3,576 — 7,048 7,058 — Industrial & warehouse 11,944 12,531 — 12,343 13,467 — Other 16,664 21,123 — 5,969 7,122 — Real estate – construction — — — — — — Commercial business 8,626 14,554 — 13,155 17,850 — Trade finance 3,318 3,318 — 9,011 9,011 — Consumer and other 2,119 2,204 — 1,007 1,156 — Subtotal $ 67,771 $ 91,642 $ — $ 67,960 $ 93,141 $ — Total $ 105,970 $ 136,339 $ 5,933 $ 104,007 $ 132,701 $ 4,791 __________________________________ (1) Impaired loans exclude acquired PCI loans (2) Unpaid contractual principal balance less charge offs, interest collected applied to principal if on nonaccrual and purchase discounts. For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 Total Impaired Loans (1) Average Recorded Investment (2) Interest Income Recognized During Impairment Average Recorded Investment (2) Interest Income Recognized During Impairment Average Recorded Investment (2) Interest Income Recognized During Impairment Average Recorded Investment (2) Interest Income Recognized During Impairment (Dollars in thousands) With related allowance: Real estate – residential $ — $ — $ 125 $ — $ — $ — $ 84 $ — Real estate – commercial Retail 2,133 6 7,088 7 1,880 11 4,902 15 Hotel & motel 1,812 — 2,792 — 1,857 — 2,838 — Gas station & car wash 61 — — — 31 — — — Mixed use 847 2 2,985 39 859 3 2,094 75 Industrial & warehouse 7,249 90 2,616 36 5,267 170 2,002 67 Other 2,597 5 6,655 24 4,318 11 5,902 47 Real estate – construction — — — — — — — — Commercial business 24,019 139 27,487 168 23,414 295 24,435 331 Trade finance 1,463 1 3,146 63 975 2 3,384 121 Consumer and other 956 — 748 6 829 — 673 6 Subtotal $ 41,137 $ 243 $ 53,642 $ 343 $ 39,430 $ 492 $ 46,314 $ 662 With no related allowance: Real estate – residential $ — $ — $ — $ — $ — $ — $ — $ — Real estate – commercial Retail 17,808 35 10,917 36 14,540 70 11,209 71 Hotel & motel 9,946 — 3,713 — 10,256 — 3,423 — Gas station & car wash 494 4 542 — 511 9 558 — Mixed use 5,345 51 2,475 50 5,912 102 2,017 100 Industrial & warehouse 10,998 64 11,886 56 11,447 127 10,733 112 Other 15,524 82 13,587 112 12,339 166 15,819 233 Real estate – construction — — 650 — — — 867 — Commercial business 10,576 62 20,530 37 11,436 121 19,752 63 Trade finance 5,813 52 3,165 47 6,879 102 3,134 90 Consumer and other 1,450 — 1,807 — 1,303 — 1,718 — Subtotal $ 77,954 $ 350 $ 69,272 $ 338 $ 74,623 $ 697 $ 69,230 $ 669 Total $ 119,091 $ 593 $ 122,914 $ 681 $ 114,053 $ 1,189 $ 115,544 $ 1,331 __________________________________ (1) Impaired loans exclude acquired PCI loans (2) Unpaid contractual principal balance less charge offs, interest collected applied to principal if on nonaccrual and purchase discounts. As of June 30, 2019 As of December 31, 2018 Impaired Acquired Loans (1) Recorded Investment (2) Unpaid Contractual Principal Balance Related Allowance Recorded Investment (2) Unpaid Contractual Principal Balance Related Allowance (Dollars in thousands) With related allowance: Real estate – residential $ — $ — $ — $ — $ — $ — Real estate – commercial Retail 810 843 22 198 220 118 Hotel & motel 73 345 3 72 345 4 Gas station & car wash 61 1,967 — — — — Mixed use 293 297 22 312 312 38 Industrial & warehouse 328 1,920 80 230 1,050 88 Other — — — 3,454 3,454 13 Real estate – construction — — — — — — Commercial business 2,022 2,294 987 4,064 5,041 130 Trade finance — — — — — — Consumer and other 131 131 1 144 144 — Subtotal $ 3,718 $ 7,797 $ 1,115 $ 8,474 $ 10,566 $ 391 With no related allowance: Real estate – residential $ — $ — $ — $ — $ — $ — Real estate – commercial Retail 7,155 7,246 — 3,285 4,151 — Hotel & motel 5,350 6,790 — 5,428 6,874 — Gas station & car wash 183 706 — 247 2,673 — Mixed use 194 285 — 3,722 3,726 — Industrial & warehouse — — — 119 894 — Other 5,131 8,448 — 1,013 1,326 — Real estate – construction — — — — — — Commercial business 2,206 3,843 — 1,670 2,681 — Trade finance 3,318 3,318 — 3,124 3,124 — Consumer and other 680 765 — 997 1,144 — Subtotal $ 24,217 $ 31,401 $ — $ 19,605 $ 26,593 $ — Total $ 27,935 $ 39,198 $ 1,115 $ 28,079 $ 37,159 $ 391 __________________________________ (1) Impaired loans exclude acquired PCI loans (2) Unpaid contractual principal balance less charge offs, interest collected applied to principal if on nonaccrual and purchase discounts. For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 Impaired Acquired Loans (1) Average Recorded Investment (2) Interest Income Recognized During Impairment Average Recorded Investment (2) Interest Income Recognized During Impairment Average Recorded Investment (2) Interest Income Recognized During Impairment Average Recorded Investment (2) Interest Income Recognized During Impairment (Dollars in thousands) With related allowance: Real estate – residential $ — $ — $ 125 $ — $ — $ — $ 84 $ — Real estate – commercial Retail 692 — 800 — 527 — 621 — Hotel & motel 73 — 79 — 73 — 81 — Gas station & car wash 30 — — — 20 — — — Mixed use 298 2 2,899 39 303 3 1,976 75 Industrial & warehouse 282 — 266 — 264 — 251 1 Other 544 — 3,314 19 1,999 — 2,316 37 Real estate – construction — — — — — — — — Commercial business 2,998 24 8,243 41 3,353 49 6,158 80 Trade finance — — — — — — — — Consumer and other 133 — 76 2 137 — 51 2 Subtotal $ 5,050 $ 26 $ 15,802 $ 101 $ 6,676 $ 52 $ 11,538 $ 195 With no related allowance: Real estate – residential $ — $ — $ — $ — $ — $ — $ — $ — Real estate – commercial Retail 7,344 30 3,108 31 5,991 60 3,209 61 Hotel & motel 5,371 — 1,029 — 5,390 — 847 — Gas station & car wash 215 — 193 — 225 — 129 — Mixed use 2,049 — 36 — 2,607 — 74 — Industrial & warehouse 93 — 491 — 106 — 342 — Other 4,749 67 4,475 60 3,504 133 6,027 117 Real estate – construction — — — — — — — — Commercial business 1,640 31 8,380 24 1,650 64 6,660 38 Trade finance 3,192 52 3,165 47 3,169 102 3,104 90 Consumer and other 731 — 1,618 — 820 — 1,463 — Subtotal $ 25,384 $ 180 $ 22,495 $ 162 $ 23,462 $ 359 $ 21,855 $ 306 Total $ 30,434 $ 206 $ 38,297 $ 263 $ 30,138 $ 411 $ 33,393 $ 501 __________________________________ |
Aging of Past Due Loans | The following table represents 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 June 30, 2019 and December 31, 2018 . Nonaccrual Loans (1) Accruing Loans Past Due 90 or More Days June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 (Dollars in thousands) Legacy Loans: Real estate – residential $ — $ — $ — $ — Real estate – commercial Retail 4,682 5,153 — — Hotel & motel 6,503 7,325 — — Gas station & car wash 31 31 — — Mixed use 717 749 — — Industrial & warehouse 7,278 6,111 — — Other 10,794 5,940 — — Real estate – construction — — — — Commercial business 15,318 14,837 — — Trade finance 2,721 1,661 — — Consumer and other 2,205 441 353 243 Subtotal $ 50,249 $ 42,248 $ 353 $ 243 Acquired Loans: (2) Real estate – residential $ — $ — $ — $ — Real estate – commercial Retail 5,350 829 — — Hotel & motel 5,423 5,500 — 1,286 Gas station & car wash 245 247 — — Mixed use 370 1,224 — — Industrial & warehouse 328 349 — — Other 1,201 259 — — Real estate – construction — — — — Commercial business 958 1,632 — — Trade finance — — — — Consumer and other 810 998 — — Subtotal $ 14,685 $ 11,038 $ — $ 1,286 Total $ 64,934 $ 53,286 $ 353 $ 1,529 __________________________________ (1) Total nonaccrual loans exclude guaranteed portion of delinquent SBA loans that are in liquidation totaling $32.1 million and $29.2 million , at June 30, 2019 and December 31, 2018 , 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 June 30, 2019 and December 31, 2018 by class of loans: As of June 30, 2019 As of December 31, 2018 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 — 811 297 1,108 733 — 809 1,542 Hotel & motel 1,716 347 3,680 5,743 153 — 5,215 5,368 Gas station & car wash 658 — 31 689 — — 31 31 Mixed use — 174 184 358 — — — — Industrial & warehouse 74 849 3,387 4,310 1,465 — 1,922 3,387 Other 8,576 133 7,359 16,068 1,837 — 2,405 4,242 Real estate – construction — — — — — — — — Commercial business 1,450 121 10,671 12,242 5,500 435 7,003 12,938 Trade finance — — 2,721 2,721 1,036 — 1,661 2,697 Consumer and other 5,721 250 1,796 7,767 16,413 140 247 16,800 Subtotal $ 18,195 $ 2,685 $ 30,126 $ 51,006 $ 27,137 $ 575 $ 19,293 $ 47,005 Acquired Loans: (1) Real estate – residential $ — $ — $ — $ — $ — $ — $ — $ — Real estate – commercial Retail — 38 5,001 5,039 347 — 602 949 Hotel & motel — — 4,462 4,462 — — 5,206 5,206 Gas station & car wash — — 221 221 154 — 221 375 Mixed use — — 194 194 107 — 1,034 1,141 Industrial & warehouse 94 120 328 542 142 — 119 261 Other 791 — 203 994 183 219 — 402 Real estate – construction — — — — — — — — Commercial business 84 — 237 321 397 613 253 1,263 Trade finance — — — — — — — — Consumer and other 1,337 709 268 2,314 — — 334 334 Subtotal $ 2,306 $ 867 $ 10,914 $ 14,087 $ 1,330 $ 832 $ 7,769 $ 9,931 Total Past Due $ 20,501 $ 3,552 $ 41,040 $ 65,093 $ 28,467 $ 1,407 $ 27,062 $ 56,936 __________________________________ (1) 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 June 30, 2019 and December 31, 2018 by class of loans: As of June 30, 2019 Pass/ Not Rated Special Mention Substandard Doubtful Total (Dollars in thousands) Legacy Loans: Real estate – residential $ 45,944 $ — $ 145 $ — $ 46,089 Real estate – commercial Retail 1,784,344 35,150 36,712 — 1,856,206 Hotel & motel 1,389,821 10,341 31,870 — 1,432,032 Gas station & car wash 818,660 2,761 2,122 — 823,543 Mixed use 550,044 12,967 13,559 — 576,570 Industrial & warehouse 721,166 945 34,497 — 756,608 Other 1,375,120 32,591 39,753 — 1,447,464 Real estate – construction 252,432 16,249 — — 268,681 Commercial business 2,119,781 35,789 39,031 — 2,194,601 Trade finance 160,669 73 2,721 — 163,463 Consumer and other 787,796 184 2,266 — 790,246 Subtotal $ 10,005,777 $ 147,050 $ 202,676 $ — $ 10,355,503 Acquired Loans: Real estate – residential $ 4,362 $ 387 $ 329 $ — $ 5,078 Real estate – commercial Retail 401,670 5,844 22,187 — 429,701 Hotel & motel 166,101 298 19,161 — 185,560 Gas station & car wash 121,640 — 5,039 — 126,679 Mixed use 87,781 7,225 4,511 — 99,517 Industrial & warehouse 153,008 4,132 19,708 — 176,848 Other 351,841 10,066 28,680 — 390,587 Real estate – construction — 9,689 — — 9,689 Commercial business 53,607 1,778 15,300 1 70,686 Trade finance — — 3,318 — 3,318 Consumer and other 119,893 16 2,932 — 122,841 Subtotal $ 1,459,903 $ 39,435 $ 121,165 $ 1 $ 1,620,504 Total $ 11,465,680 $ 186,485 $ 323,841 $ 1 $ 11,976,007 As of December 31, 2018 Pass/ Special Mention Substandard Doubtful Total (Dollars in thousands) Legacy Loans: Real estate – residential $ 44,066 $ — $ 546 $ — $ 44,612 Real estate – commercial Retail 1,815,170 18,072 30,686 — 1,863,928 Hotel & motel 1,389,349 21,932 15,869 — 1,427,150 Gas station & car wash 814,291 2,810 2,464 — 819,565 Mixed use 510,021 12,480 13,292 — 535,793 Industrial & warehouse 711,236 1,665 38,332 — 751,233 Other 1,326,795 35,539 34,618 — 1,396,952 Real estate – construction 227,231 10,904 — — 238,135 Commercial business 1,944,783 18,220 54,688 — 2,017,691 Trade finance 191,508 — 2,558 — 194,066 Consumer and other 910,292 — 441 — 910,733 Subtotal $ 9,884,742 $ 121,622 $ 193,494 $ — $ 10,199,858 Acquired Loans: Real estate – residential $ 5,812 $ 393 $ 380 $ — $ 6,585 Real estate – commercial Retail 483,939 4,651 17,332 35 505,957 Hotel & motel 186,761 807 19,472 — 207,040 Gas station & car wash 148,702 274 6,032 — 155,008 Mixed use 77,100 3,986 8,151 — 89,237 Industrial & warehouse 171,574 9,451 18,071 223 199,319 Other 402,247 12,902 28,996 — 444,145 Real estate – construction 29,058 7,883 — — 36,941 Commercial business 89,611 1,083 19,237 8 109,939 Trade finance — — 3,124 — 3,124 Consumer and other 136,944 37 3,626 146 140,753 Subtotal $ 1,731,748 $ 41,467 $ 124,421 $ 412 $ 1,898,048 Total $ 11,616,490 $ 163,089 $ 317,915 $ 412 $ 12,097,906 |
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 six months ended June 30, 2019 and 2018 is presented in the following table: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Transfer of loans held for investment to held for sale (Dollars in thousands) Consumer $ 49,601 $ — $ 82,991 $ 6,155 |
Allowance for Loan Losses and Impaired Loans, Qualitative and Quantitative Analysis | The following table presents breakdown of loans by impairment method at June 30, 2019 and December 31, 2018 : As of June 30, 2019 Real Estate – Residential Real Estate – Commercial Real Estate – Construction Commercial Business Trade Finance Consumer and Other Total (Dollars in thousands) Impaired loans (recorded investment) $ — $ 66,363 $ — $ 30,387 $ 6,143 $ 3,077 $ 105,970 Specific allowance $ — $ 319 $ — $ 5,269 $ 333 $ 12 $ 5,933 Specific allowance to impaired loans N/A 0.48 % N/A 17.34 % 5.42 % 0.39 % 5.60 % Other loans $ 51,167 $ 8,234,952 $ 278,370 $ 2,234,900 $ 160,638 $ 910,010 $ 11,870,037 General allowance $ 88 $ 52,433 $ 1,244 $ 26,086 $ 676 $ 7,606 $ 88,133 General allowance to other loans 0.17 % 0.64 % 0.45 % 1.17 % 0.42 % 0.84 % 0.74 % Total loans $ 51,167 $ 8,301,315 $ 278,370 $ 2,265,287 $ 166,781 $ 913,087 $ 11,976,007 Total allowance for loan losses $ 88 $ 52,752 $ 1,244 $ 31,355 $ 1,009 $ 7,618 $ 94,066 Total allowance to total loans 0.17 % 0.64 % 0.45 % 1.38 % 0.60 % 0.83 % 0.79 % As of December 31, 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) $ — $ 58,056 $ — $ 35,358 $ 9,011 $ 1,582 $ 104,007 Specific allowance $ — $ 437 $ — $ 4,351 $ — $ 3 $ 4,791 Specific allowance to impaired loans N/A 0.75 % N/A 12.31 % — % 0.19 % 4.61 % Other loans $ 51,197 $ 8,337,271 $ 275,076 $ 2,092,272 $ 188,179 $ 1,049,904 $ 11,993,899 General allowance $ 112 $ 55,453 $ 765 $ 23,414 $ 719 $ 7,303 $ 87,766 General allowance to other loans 0.22 % 0.67 % 0.28 % 1.12 % 0.38 % 0.70 % 0.73 % Total loans $ 51,197 $ 8,395,327 $ 275,076 $ 2,127,630 $ 197,190 $ 1,051,486 $ 12,097,906 Total allowance for loan losses $ 112 $ 55,890 $ 765 $ 27,765 $ 719 $ 7,306 $ 92,557 Total allowance to total loans 0.22 % 0.67 % 0.28 % 1.30 % 0.36 % 0.69 % 0.77 % |
Troubled Debt Restructurings | The following tables present the recorded investment of loans classified as TDR during the three and six months ended June 30, 2019 and 2018 by class of loans: Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 Number of Pre- Post- Number of Loans Pre- Modification Post- Modification (Dollars in thousands) Legacy Loans: Real estate – residential — $ — $ — — $ — $ — Real estate – commercial Retail — — — 1 54 54 Hotel & motel 1 730 730 — — — Gas station & car wash — — — — — — Mixed use — — — — — — Industrial & warehouse — — — — — — Other — — — — — — Real estate – construction — — — — — — Commercial business 7 447 447 10 2,830 2,830 Trade finance — — — — — — Consumer and other 7 30 30 1 70 70 Subtotal 15 $ 1,207 $ 1,207 12 $ 2,954 $ 2,954 Acquired Loans: Real estate – residential — $ — $ — — $ — $ — Real estate – commercial Retail 1 27 27 — — — Hotel & motel — — — — — — Gas station & car wash — — — — — — Mixed use — — — — — — Industrial & warehouse — — — — — — Other 2 961 961 — — — Real estate – construction — — — — — — Commercial business 1 132 132 2 1,348 1,348 Trade finance — — — — — — Consumer and other — — — — — — Subtotal 4 $ 1,120 $ 1,120 2 $ 1,348 $ 1,348 Total 19 $ 2,327 $ 2,327 14 $ 4,302 $ 4,302 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 Number of Pre- Post- Number of Loans Pre- Modification Post- Modification (Dollars in thousands) Legacy Loans: Real estate – residential — $ — $ — — $ — $ — Real estate – commercial Retail — — — 2 66 66 Hotel & motel 2 880 880 — — — Gas station & car wash — — — — — — Mixed use — — — — — — Industrial & warehouse — — — 1 2,093 2,093 Other 1 92 92 1 1,231 1,231 Real estate – construction — — — — — — Commercial business 12 3,143 3,143 13 6,486 6,486 Trade finance — — — — — — Consumer and other 13 62 62 1 70 70 Subtotal 28 $ 4,177 $ 4,177 18 $ 9,946 $ 9,946 Acquired Loans: Real estate – residential — $ — $ — — $ — $ 498 Real estate – commercial Retail 2 125 125 1 207 207 Hotel & motel — — — — — — Gas station & car wash — — — — — — Mixed use — — — 1 2,714 2,714 Industrial & warehouse — — — — — — Other 2 961 961 1 1,047 1,047 Real estate – construction — — — — — — Commercial business 2 167 167 2 1,348 1,348 Trade finance — — — — — — Consumer and other — — — — — — Subtotal 6 $ 1,253 $ 1,253 5 $ 5,316 $ 5,814 Total 34 $ 5,430 $ 5,430 23 $ 15,262 $ 15,760 A summary of the recorded investment of TDR loans on accrual and nonaccrual status by type of concession as of June 30, 2019 and December 31, 2018 is presented below: As of June 30, 2019 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 $ 5,034 $ 960 $ 61 $ 6,055 $ 4,051 $ 553 $ — $ 4,604 $ 10,659 Maturity / amortization concession 13,556 10,791 3,319 27,666 — 8,437 2,905 11,342 39,008 Rate concession 4,547 2,359 104 7,010 373 — — 373 7,383 Total $ 23,137 $ 14,110 $ 3,484 $ 40,731 $ 4,424 $ 8,990 $ 2,905 $ 16,319 $ 57,050 As of December 31, 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 $ 5,142 $ 961 $ — $ 6,103 $ 2,216 $ 746 $ — $ 2,962 $ 9,065 Maturity / amortization concession 14,012 17,257 7,391 38,660 — 10,166 73 10,239 48,899 Rate concession 4,872 672 103 5,647 401 — — 401 6,048 Total $ 24,026 $ 18,890 $ 7,494 $ 50,410 $ 2,617 $ 10,912 $ 73 $ 13,602 $ 64,012 |
Summary of Troubled Debt Restructurings with Subsequent Payment Default | The following table presents loans modified as TDRs within the previous twelve months ended June 30, 2019 and June 30, 2018 that subsequently had payment defaults during the three and six months ended June 30, 2019 and June 30, 2018 : Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 Number of Loans Balance Number of Loans Balance (Dollars in thousands) Legacy Loans: Real estate – commercial Retail — $ — — $ — Hotel & motel — — — — Gas station & car wash — — — — Mixed Use — — — — Industrial & warehouse — — — — Other 1 92 — — Real estate – construction — — — — Commercial business — — 4 1,188 Trade finance — — — — Consumer and other 6 39 — — Subtotal 7 $ 131 4 $ 1,188 Acquired Loans: Real estate – commercial Retail — $ — — $ — Hotel & motel 1 73 — — Gas station & car wash — — — — Mixed Use — — — — Industrial & warehouse 1 234 — — Other — — — — Real estate – construction — — — — Commercial business 3 150 — — Trade finance — — — — Consumer and other — — — — Subtotal 5 $ 457 — $ — Total 12 $ 588 4 $ 1,188 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 Number of Loans Balance Number of Loans Balance (Dollars in thousands) Legacy Loans: Real estate – commercial Retail — $ — — $ — Hotel & motel — — — — Gas station & car wash — — — — Mixed Use — — — — Industrial & warehouse — — — — Other 1 92 — — Real estate – construction — — — — Commercial business — — 4 1,188 Trade finance — — — — Consumer and other 6 39 — — Subtotal 7 $ 131 4 $ 1,188 Acquired Loans: Real estate – commercial Retail — $ — — $ — Hotel & motel 1 73 — — Gas station & car wash — — — — Mixed Use — — — — Industrial & warehouse 1 234 — — Other — — 1 3,108 Real estate – construction — — — — Commercial business 4 218 1 — Trade finance — — — — Consumer and other — — — — Subtotal 6 $ 525 2 $ 3,108 Total 13 $ 656 6 $ 4,296 |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Summary of Net Lease Cost and Other Information | The table below summarizes other information related to the Company’s operating leases: At or for the Three Months Ended At or for the Six Months Ended (Dollars in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows for operating leases $ 3,709 $ 7,372 Right-of-use assets obtained in exchange for lease liabilities, net 1,017 65,263 Weighted-average remaining lease term - operating leases 6.16 years 6.16 years Weighted-average discount rate - operating leases 3.21 % 3.21 % The table below summarizes the Company’s net lease cost: Three Months Ended Six Months Ended (Dollars in thousands) Operating lease cost $ 4,157 $ 8,280 Short term lease cost — 9 Variable lease cost 833 1,536 Sublease income (156 ) (313 ) Net lease cost $ 4,834 $ 9,512 |
Summary of Maturity of Remaining Lease Liabilities | The table below summarizes the maturity of remaining lease liabilities: June 30, 2019 (Dollars in thousands) 2019 $ 7,357 2020 13,410 2021 12,558 2022 8,466 2023 6,383 2024 and thereafter 19,760 Total lease payments 67,934 Less: imputed interest 6,720 Total lease obligations $ 61,214 |
Borrowings (Tables)
Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Debt Disclosure [Abstract] | |
Contractual Maturities for FHLB-SF Borrowings | At June 30, 2019 , the contractual maturities for outstanding FHLB advances were as follows: June 30, 2019 Scheduled maturities in: (Dollars in thousands) 2019 $ 220,000 2020 185,000 2021 145,000 2022 145,000 Total $ 695,000 |
Subordinated Debentures and C_2
Subordinated Debentures and Convertible Notes (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Subordinated Borrowings [Abstract] | |
Summary of Trust Preferred Securities and Debentures | The following table is a summary of trust preferred securities and Debentures at June 30, 2019 : 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 5.56% 06/15/2033 Nara Statutory Trust IV 12/22/2003 5,000 5,155 Variable 5.45% 01/07/2034 Nara Statutory Trust V 12/17/2003 10,000 10,310 Variable 5.36% 12/17/2033 Nara Statutory Trust VI 03/22/2007 8,000 8,248 Variable 4.06% 06/15/2037 Center Capital Trust I 12/30/2003 18,000 14,128 Variable 5.45% 01/07/2034 Wilshire Trust II 03/17/2005 20,000 15,634 Variable 4.20% 03/17/2035 Wilshire Trust III 09/15/2005 15,000 11,041 Variable 3.81% 09/15/2035 Wilshire Trust IV 07/10/2007 25,000 17,899 Variable 3.79% 09/15/2037 Saehan Capital Trust I 03/30/2007 20,000 14,907 Variable 3.94% 06/30/2037 Total $ 126,000 $ 102,477 |
Convertible Debt | The value of the convertible note at issuance and carrying value as of June 30, 2019 and December 31, 2018 is presented in the tables below: As of June 30, 2019 Amortization/ Capitalization Period Gross Accumulated Carrying Amount (Dollars in thousands) Convertible notes principal balance $ 217,500 $ — $ 217,500 Discount 5 years (21,880 ) 4,580 (17,300 ) Issuance costs to be capitalized 5 years (4,119 ) 896 (3,223 ) Carrying balance of convertible notes $ 191,501 $ 5,476 $ 196,977 As of December 31, 2018 Amortization/ Capitalization Period Gross Accumulated Carrying Amount (Dollars in thousands) Convertible notes principal balance $ 217,500 $ — $ 217,500 Discount 5 years (21,880 ) 2,544 (19,336 ) Issuance costs to be capitalized 5 years (4,119 ) 498 (3,621 ) Carrying balance of convertible notes $ 191,501 $ 3,042 $ 194,543 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30, 2019 and December 31, 2018 , interest rate swaps related to the Company’s loan hedging program that were outstanding is presented in the following table: June 30, 2019 December 31, 2018 (Dollars in thousands) Interest rate swaps on loans with correspondent banks Notional amount $ 71,201 $ 237,916 Weighted average remaining term (years) 4.6 6.8 Pay fixed rate (weighted average) 3.96 % 4.36 % Received variable rate (weighted average) 4.97 % 4.69 % Estimated fair value $ 646 $ 6,191 Interest rate swaps on loans with correspondent banks Notional amount $ 221,900 $ 36,972 Weighted average remaining term (years) 7.0 6.4 Pay fixed rate (weighted average) 4.65 % 5.12 % Received variable rate (weighted average) 4.77 % 4.56 % Estimated fair value $ (8,414 ) $ (868 ) Back to back interest rate swaps with loan customers Notional amount $ 71,201 $ 237,916 Weighted average remaining term (years) 4.6 6.8 Received fixed rate (weighted average) 3.96 % 4.36 % Pay variable rate (weighted average) 4.97 % 4.69 % Estimated fair value $ (646 ) $ (6,191 ) Back to back interest rate swaps with loan customers Notional amount $ 221,900 $ 36,972 Weighted average remaining term (years) 7.0 6.4 Received variable rate (weighted average) 4.65 % 5.12 % Pay fixed rate (weighted average) 4.77 % 4.56 % Estimated fair value $ 8,414 $ 868 |
Schedule of Derivative Instruments | The following table reflects the notional amount and fair value of mortgage banking derivatives for the dates indicated: As of June 30, 2019 As of December 31, 2018 Notional Amount Fair Value Notional Amount Fair Value (Dollars in thousands) Assets: Interest rate lock commitments $ 16,710 $ 142 $ 874 $ 10 Forward sale contracts related to mortgage banking $ 8,397 $ 23 $ — $ — Liabilities: Interest rate lock commitments $ 6,805 $ 38 $ — $ — Forward sale contracts related to mortgage banking $ 15,118 $ 58 $ 874 $ 3 |
Commitments and contingencies (
Commitments and contingencies (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments | Commitments at June 30, 2019 and December 31, 2018 are summarized as follows: June 30, 2019 December 31, 2018 (Dollars in thousands) Commitments to extend credit $ 1,655,373 $ 1,712,032 Standby letters of credit 85,052 69,763 Other letters of credit 61,792 65,822 Commitments to fund investments in affordable housing partnerships 34,217 46,507 |
Goodwill, Intangible Assets, _2
Goodwill, Intangible Assets, and Servicing Assets (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Finite-Lived Intangible Assets | The following table provides information regarding the core deposit intangibles at June 30, 2019 and December 31, 2018 : As of June 30, 2019 As of December 31, 2018 Core Deposit Intangibles Related To: Amortization Period Gross Amount Accumulated Amortization Carrying Amount Accumulated Carrying Amount (Dollars in thousands) Center Financial acquisition 7 years $ 4,100 $ (4,100 ) $ — $ (4,100 ) $ — Pacific International Bank acquisition 7 years 604 (590 ) 14 (579 ) 25 Foster Bankshares acquisition 10 years 2,763 (2,007 ) 756 (1,893 ) 870 Wilshire Bancorp acquisition 10 years 18,138 (5,961 ) 12,177 (4,972 ) 13,166 Total $ 25,605 $ (12,658 ) $ 12,947 $ (11,544 ) $ 14,061 |
Schedule of Servicing Assets | The changes in servicing assets for the three and six months ended June 30, 2019 and 2018 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Balance at beginning of period $ 21,407 $ 24,866 $ 23,132 $ 24,710 Additions through originations of servicing assets 619 1,600 946 3,316 Amortization (2,029 ) (2,086 ) (4,081 ) (3,646 ) Adjustments — 670 — 670 Balance at end of period $ 19,997 $ 25,050 $ 19,997 $ 25,050 |
Summary of Fair Value Inputs | The inputs used in evaluating servicing assets for impairment at June 30, 2019 and December 31, 2018 are presented below. June 30, 2019 December 31, 2018 SBA Servicing Assets: Weighted-average discount rate 10.98% 11.23% Constant prepayment rate 13.40% 11.09% Mortgage Servicing Assets: Weighted-average discount rate 9.25% 10.25% Constant prepayment rate 9.86% 7.13% |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30, 2019 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 $ 844,899 $ — $ 844,899 $ — Mortgage-backed securities: Residential 367,176 — 367,176 — Commercial 540,931 — 540,931 — Corporate securities 3,880 — 3,880 — Municipal securities 70,017 — 68,930 1,087 Equity investments with readily determinable fair value 22,061 22,061 — — Interest rate swaps 9,060 — 9,060 — Mortgage banking derivatives 165 — 165 — Liabilities: Interest rate swaps 9,060 — 9,060 — Mortgage banking derivatives 96 — 96 — Fair Value Measurements at the End of the Reporting Period Using December 31, 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 $ 895,122 $ — $ 895,122 $ — Mortgage-backed securities: Residential 402,605 — 402,605 — Commercial 469,126 — 469,126 — Corporate securities 3,826 — 3,826 — Municipal securities 75,586 — 74,527 1,059 Equity investments with readily determinable fair value 23,405 23,405 — — Interest rate swaps 7,059 — 7,059 — Mortgage banking derivatives 10 — 10 — Liabilities: Interest rate swaps 7,059 — 7,059 — Mortgage banking derivatives 3 — 3 — |
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 six months ended June 30, 2019 and 2018 : Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Beginning Balance $ 1,068 $ 1,079 $ 1,059 $ 1,108 Change in fair value included in other comprehensive income (loss) 19 (14 ) 28 (43 ) Ending Balance $ 1,087 $ 1,065 $ 1,087 $ 1,065 |
Assets Measured at Fair Value on a Non-recurring Basis | Assets measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at the End of the Reporting Period Using June 30, 2019 Quoted Prices Significant Significant (Dollars in thousands) Assets: Impaired loans at fair value: Real estate loans $ 9,014 $ — $ — $ 9,014 Commercial business 13,511 — — 13,511 Trade finance 2,721 — — 2,721 OREO 4,497 — — 4,497 Fair Value Measurements at the End of the Reporting Period Using December 31, 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: Impaired loans at fair value: Real estate loans $ 9,379 $ — $ — $ 9,379 Commercial business 9,951 — — 9,951 Consumer 66 — — 66 OREO 5,659 — — 5,659 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 June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Assets: Impaired loans at fair value: Real estate loans $ 525 $ 966 $ 1,573 $ (4,606 ) Commercial business (336 ) 1,513 (3,567 ) 614 Trade Finance (333 ) (240 ) (333 ) (225 ) Consumer (343 ) 448 (628 ) (763 ) OREO 77 192 139 264 |
Carrying Amounts and Estimated Fair Values of Financial Instruments | Carrying amounts and estimated fair values of financial instruments, not previously presented, at June 30, 2019 and December 31, 2018 were as follows: June 30, 2019 Carrying Estimated Fair Value Measurement Using (Dollars in thousands) Financial Assets: Cash and cash equivalents $ 609,795 $ 609,795 Level 1 Interest bearing deposits in other financial institutions 30,632 30,714 Level 2 Equity investments without readily determinable fair values 26,689 26,689 Level 2 Loans held for sale 6,426 6,516 Level 2 Loans receivable—net 11,883,068 11,756,995 Level 3 Accrued interest receivable 33,980 33,980 Level 2/3 Servicing assets, net 19,997 21,693 Level 3 Customers’ liabilities on acceptances 1,696 1,696 Level 2 Financial Liabilities: Noninterest bearing deposits $ 3,009,218 $ 3,009,218 Level 2 Saving and other interest bearing demand deposits 3,482,806 3,482,806 Level 2 Time deposits 5,680,360 5,707,901 Level 2 FHLB advances 695,000 697,013 Level 2 Convertible notes, net 196,977 199,030 Level 1 Subordinated debentures 102,477 117,726 Level 2 Accrued interest payable 36,987 36,987 Level 2 Acceptances outstanding 1,696 1,696 Level 2 December 31, 2018 Carrying Estimated Fair Value Measurement Using (Dollars in thousands) Financial Assets: Cash and cash equivalents $ 459,606 $ 459,606 Level 1 Interest bearing deposits in other financial institutions 29,409 29,374 Level 2 Equity investments without readily determinable fair values 26,430 26,430 Level 2 Loans held for sale 25,128 25,943 Level 2 Loans receivable—net 12,005,558 11,913,906 Level 3 Accrued interest receivable 32,225 32,225 Level 2/3 Servicing assets, net 23,132 24,762 Level 3 Customers’ liabilities on acceptances 2,281 2,281 Level 2 Financial Liabilities: Noninterest bearing deposits $ 3,022,633 $ 3,022,633 Level 2 Saving and other interest bearing demand deposits 3,262,399 3,262,399 Level 2 Time deposits 5,870,624 5,889,030 Level 2 FHLB advances 821,280 810,812 Level 2 Convertible debt 194,543 180,525 Level 1 Subordinated debentures 101,929 116,542 Level 2 Accrued interest payable 31,374 31,374 Level 2 Acceptances outstanding 2,281 2,281 Level 2 |
Stockholders_ Equity (Tables)
Stockholders’ Equity (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table presents the quarterly changes to accumulated other comprehensive income (loss) for the three and six months ended June 30, 2019 and June 30, 2018 : Three Months Ended, Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (Dollars in thousands) Balance at beginning of period $ (15,358 ) $ (38,640 ) $ (32,705 ) $ (21,781 ) Unrealized gain (loss) on securities available for sale 32,523 (9,249 ) 57,189 (33,898 ) Reclassification adjustments for net gains realize in net income (129 ) — (129 ) — Tax effect (9,613 ) 2,767 (16,932 ) 10,276 Total other comprehensive income (loss) $ 22,781 $ (6,482 ) $ 40,128 $ (23,622 ) Reclassification to retained earnings per ASU 2016-01 — — — 281 Balance at end of period $ 7,423 $ (45,122 ) $ 7,423 $ (45,122 ) |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30, 2019 Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Common equity Tier 1 capital (to risk weighted assets): Company $ 1,512,921 11.90 % $ 572,206 4.50 % $ 890,098 7.00 % N/A N/A Bank $ 1,784,216 14.03 % $ 572,138 4.50 % $ 889,992 7.00 % $ 826,421 6.50 % Total capital (to risk-weighted assets): Company $ 1,706,299 13.42 % $ 1,017,255 8.00 % $ 1,335,147 10.50 % N/A N/A Bank $ 1,879,018 14.78 % $ 1,017,134 8.00 % $ 1,334,988 10.50 % $ 1,271,417 10.00 % Tier 1 capital Company $ 1,611,497 12.67 % $ 762,941 6.00 % $ 1,080,833 8.50 % N/A N/A Bank $ 1,784,216 14.03 % $ 762,850 6.00 % $ 889,992 8.50 % $ 1,017,134 8.00 % Tier 1 capital Company $ 1,611,497 10.94 % $ 589,066 4.00 % N/A N/A N/A N/A Bank $ 1,784,216 12.11 % $ 589,225 4.00 % N/A N/A $ 736,532 5.00 % Actual Required Minimum Capital Adequacy With Capital Conservation Buffer Required As of December 31, 2018 Amount Ratio Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Common equity Tier 1 capital (to risk weighted assets): Company $ 1,458,344 11.44 % $ 573,723 4.50 % $ 812,774 6.375 % N/A N/A Bank $ 1,737,092 13.63 % $ 573,669 4.50 % $ 812,740 6.375 % $ 828,677 6.50 % Total capital (to risk-weighted assets): Company $ 1,649,664 12.94 % $ 1,019,952 8.00 % $ 1,259,004 9.875 % N/A N/A Bank $ 1,830,385 14.36 % $ 1,019,910 8.00 % $ 1,258,951 9.875 % $ 1,274,887 10.00 % Tier 1 capital Company $ 1,556,371 12.21 % $ 764,964 6.00 % $ 1,004,015 7.875 % N/A N/A Bank $ 1,737,092 13.63 % $ 764,932 6.00 % $ 812,740 7.875 % $ 1,019,910 8.00 % Tier 1 capital Company $ 1,556,371 10.55 % $ 590,176 4.00 % N/A N/A N/A N/A Bank $ 1,737,092 11.76 % $ 590,639 4.00 % N/A N/A $ 738,299 5.00 % |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue | Service charges on deposit accounts and wire transfers are summarized below: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Noninterest bearing deposit account income: Monthly service charges $ 406 $ 446 $ 829 $ 885 Customer analysis charges 1,871 2,036 3,594 4,060 NSF charges 1,926 1,895 3,868 3,986 Other service charges 197 221 410 454 Total noninterest bearing deposit account income 4,400 4,598 8,701 9,385 Interest bearing deposit account income: Monthly service charges 16 15 32 29 Total service fees on deposit accounts $ 4,416 $ 4,613 $ 8,733 $ 9,414 Wire transfer fee income: Wire transfer fees $ 1,166 $ 1,149 $ 2,100 $ 2,229 Foreign exchange fees 145 101 300 228 Total wire transfer fees $ 1,311 $ 1,250 $ 2,400 $ 2,457 |
Stock-Based Compensation - Plan
Stock-Based Compensation - Plan Description (Details) - shares | 6 Months Ended | ||
Jun. 30, 2019 | May 23, 2019 | Sep. 01, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares available for future grant (in shares) | 4,026,459 | ||
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 | ISOs, SARs, and NQSOs | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award vesting period | 3 years | ||
2019 Stock Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares initially available for grant to participants (in shares) | 4,400,000 | ||
2019 Stock Incentive Plan [Member] | Nonemployee director | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Contractual term | 10 years | ||
2019 Stock Incentive Plan [Member] | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Purchase price of common stock, percent | 100.00% | ||
2019 Stock Incentive Plan [Member] | ISOs, SARs, and NQSOs | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Contractual term | 10 years | ||
2019 Stock Incentive Plan [Member] | 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) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
ESPP compensation expense | $ 29 | $ 41 | $ 125 | $ 189 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ||||
Allocated share-based compensation expense | 1,500 | 915 | 2,300 | 1,900 |
Tax benefit from compensation expense | $ 378 | $ 237 | $ 585 | $ 482 |
Stock options | ||||
Number of Shares | ||||
Outstanding - beginning of period (in shares) | 982,631 | |||
Granted (in shares) | 0 | |||
Exercised (in shares) | 0 | |||
Expired (in shares) | (18,962) | |||
Forfeited (in shares) | (18,000) | |||
Outstanding - end of period (in shares) | 945,669 | 945,669 | ||
Weighted- Average Exercise Price Per Share | ||||
Outstanding - beginning of period (in dollars per share) | $ 15.41 | |||
Granted (in dollars per share) | 0 | |||
Exercised (in dollars per share) | 0 | |||
Expired (in dollars per share) | 16.67 | |||
Forfeited (in dollars per share) | 17.18 | |||
Outstanding - end of period (in dollars per share) | $ 15.35 | $ 15.35 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ||||
Options exercisable - end of period (in shares) | 799,669 | 799,669 | ||
Options exercisable, Weighted-Average Exercise Price Per Share (in dollars per share) | $ 15.02 | $ 15.02 | ||
Outstanding, Weighted-Average Remaining Contractual Life (Years) | 5 years 11 months 26 days | |||
Options exercisable, Weighted-Average Remaining Contractual Life (Years) | 5 years 9 months 10 days | |||
Outstanding, Aggregate Intrinsic Value | $ 926 | $ 926 | ||
Options exercisable, Aggregate Intrinsic Value | $ 926 | $ 926 |
Stock-Based Compensation - Rest
Stock-Based Compensation - Restricted and Performance Unit Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ||||
ESPP compensation expense | $ 29 | $ 41 | $ 125 | $ 189 |
Allocated share-based compensation expense | 1,500 | 915 | 2,300 | 1,900 |
Tax benefit from compensation expense | $ 378 | $ 237 | $ 585 | 482 |
Retricted and performance unit activity | ||||
Number of Shares | ||||
Outstanding - beginning of period (in shares) | 478,891 | |||
Granted (in shares) | 756,153 | |||
Vested (in shares) | (84,755) | |||
Forfeited (in shares) | (40,986) | |||
Outstanding - end of period (in shares) | 1,109,303 | 1,109,303 | ||
Weighted- Average Grant Date Fair Value | ||||
Outstanding - beginning of period (in dollars per share) | $ 16.37 | |||
Granted (in dollars per share) | 13.16 | |||
Vested (in dollars per share) | 16.79 | |||
Forfeited (in dollars per share) | 15.60 | |||
Outstanding - end of period (in dollars per share) | $ 14.18 | $ 14.18 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | ||||
Total compensation cost not yet recognized | $ 11,000 | $ 11,000 | ||
Total compensation cost not yet recognized, period for recognition | 2 years 2 months 19 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 | $ 1,200 | $ 1,200 | ||
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 | $ 338 | $ 338 | ||
Total compensation cost not yet recognized, period for recognition | 2 years 2 months 1 day | |||
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 ($) | Jun. 30, 2019USD ($)$ / sharesshares | Dec. 31, 2018USD ($)shares | Jun. 30, 2018USD ($)$ / sharesshares | Jun. 30, 2019USD ($)$ / sharesshares | Sep. 30, 2018USD ($)shares | Jun. 30, 2018USD ($)$ / sharesshares | Dec. 31, 2018USD ($)shares | Jun. 21, 2019USD ($) | Sep. 20, 2018USD ($) | May 11, 2018USD ($) | Apr. 26, 2018USD ($) |
Antidilutive Securities Excluded from Computation of Earnings Per Share | ||||||||||||
Share repurchase program, authorized amount | $ | $ 50,000,000 | $ 50,000,000 | $ 100,000,000 | |||||||||
Common stock repurchased and recorded as treasury stock (in shares) | shares | 3,436,757 | 0 | 5,565,696 | 9,002,453 | ||||||||
Repurchase of treasury stock | $ | $ 50,000,000 | $ 78,961,000 | $ 100,000,000 | $ 78,961,000 | ||||||||
Net Income (Numerator) | ||||||||||||
Basic EPS - common stock | $ | $ 42,681,000 | 47,530,000 | 85,439,000 | 98,762,000 | ||||||||
Diluted EPS - common stock | $ | $ 42,681,000 | $ 47,530,000 | $ 85,439,000 | $ 98,762,000 | ||||||||
Weighted-Average Shares (Denominator) | ||||||||||||
Basic EPS - common stock (in shares) | shares | 126,658,509 | 133,061,304 | 126,649,536 | 134,283,216 | ||||||||
Effect of dilutive securities: | ||||||||||||
Stock options, restricted stock, and ESPP shares (in shares) | shares | 211,946 | 291,537 | 193,334 | 293,528 | ||||||||
Diluted EPS - common stock (shares) | shares | 126,870,455 | 133,352,841 | 126,842,870 | 134,576,744 | ||||||||
Earnings Per Share | ||||||||||||
Basic EPS - common stock (in dollars per share) | $ / shares | $ 0.34 | $ 0.36 | $ 0.67 | $ 0.74 | ||||||||
Diluted EPS - common stock (in dollars per share) | $ / shares | $ 0.34 | $ 0.36 | $ 0.67 | $ 0.73 | ||||||||
Convertible Notes | ||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share | ||||||||||||
Aggregate principal amount issued | $ | $ 217,500,000 | $ 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 | $ 24,000,000 | $ 150,000,000 | |||||||||
Stock options and restricted shares | ||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share | ||||||||||||
Antidilutive shares of common stock | shares | 982,625 | 306,136 | 959,319 | 303,338 | ||||||||
Warrants | ||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share | ||||||||||||
Antidilutive shares of common stock | shares | 0 | 20,673 |
Equity Investment Securities -
Equity Investment Securities - Narrative (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Investment [Line Items] | ||||
Reclassification of unrealized losses on equity investments to retained earnings - ASU 2016-01 | $ (188,000) | |||
Equity investments with readily determinable fair value | $ 48,750,000 | $ 48,750,000 | $ 49,835,000 | |
Sale of Equity Investments with Readily Determinable Fair Values | 2,600,000 | |||
Equity Securities, FV-NI, Gain (Loss) | 0 | |||
Equity investments without readily determinable fair values | 26,700,000 | 26,700,000 | 26,400,000 | |
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 with readily determinable fair value | 22,100,000 | 22,100,000 | 21,500,000 | |
Equity stock in other institutions | ||||
Investment [Line Items] | ||||
Equity investments with readily determinable fair value | 1,900,000 | |||
Correspondent bank stock | ||||
Investment [Line Items] | ||||
Equity investments without readily determinable fair values | 370,000 | 370,000 | 370,000 | |
Community development financial institutions | ||||
Investment [Line Items] | ||||
Equity investments without readily determinable fair values | 1,000,000 | 1,000,000 | 1,000,000 | |
Community reinvestment act investments | ||||
Investment [Line Items] | ||||
Equity investments without readily determinable fair values | $ 25,300,000 | $ 25,300,000 | 25,100,000 | |
Retained earnings | ||||
Investment [Line Items] | ||||
Reclassification of unrealized losses on equity investments to retained earnings - ASU 2016-01 | $ (469,000) | $ (469,000) |
Equity Investment Securities _2
Equity Investment Securities - Change in Fair Value of Equity Investments (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Net change in fair value recorded during the period on equity investments with readily determinable fair value | $ 313 | $ 1,225 | $ 3,518 | |
Net change in fair value recorded on equity investments sold during the period | 0 | 0 | 0 | |
Net change in fair value on equity investments with readily determinable fair values | $ 313 | $ (1) | $ 1,225 | $ 3,518 |
Securities Available for Sale -
Securities Available for Sale - Summary of Securities Available for Sale (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2017 | |
Debt Securities, Available-for-sale [Line Items] | ||||||||
Reclassification adjustments for net gains realized in net income | $ (129,000) | $ 0 | $ (129,000) | $ 0 | ||||
Amortized Cost | 1,817,265,000 | 1,817,265,000 | $ 1,893,618,000 | |||||
Gross Unrealized Gains | 20,358,000 | 20,358,000 | 3,010,000 | |||||
Gross Unrealized Losses | (10,720,000) | (10,720,000) | (50,363,000) | |||||
Estimated Fair Value | 1,826,903,000 | 1,826,903,000 | 1,846,265,000 | |||||
Unrealized losses on securities | (7,423,000) | $ 45,122,000 | (7,423,000) | 45,122,000 | 32,705,000 | $ 15,358,000 | $ 38,640,000 | $ 21,781,000 |
Available-for-sale Securities, Gross Realized Gains | 527,000 | |||||||
Available-for-sale Securities, Gross Realized Losses | 398,000 | |||||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | 32,000 | |||||||
Proceeds from sale of securities available for sale | 69,169,000 | $ 0 | ||||||
Reclassification of unrealized losses on equity investments to retained earnings - ASU 2016-01 | (188,000) | |||||||
Available-for-sale Securities | ||||||||
Debt Securities, Available-for-sale [Line Items] | ||||||||
Unrealized losses on securities | (7,400,000) | (7,400,000) | 32,700,000 | |||||
Retained earnings | ||||||||
Debt Securities, Available-for-sale [Line Items] | ||||||||
Reclassification of unrealized losses on equity investments to retained earnings - ASU 2016-01 | (469,000) | $ (469,000) | ||||||
Collateralized mortgage obligations | ||||||||
Debt Securities, Available-for-sale [Line Items] | ||||||||
Amortized Cost | 842,576,000 | 842,576,000 | 914,710,000 | |||||
Gross Unrealized Gains | 5,443,000 | 5,443,000 | 1,541,000 | |||||
Gross Unrealized Losses | (3,120,000) | (3,120,000) | (21,129,000) | |||||
Estimated Fair Value | 844,899,000 | 844,899,000 | 895,122,000 | |||||
Residential | ||||||||
Debt Securities, Available-for-sale [Line Items] | ||||||||
Amortized Cost | 369,476,000 | 369,476,000 | 415,659,000 | |||||
Gross Unrealized Gains | 913,000 | 913,000 | 47,000 | |||||
Gross Unrealized Losses | (3,213,000) | (3,213,000) | (13,101,000) | |||||
Estimated Fair Value | 367,176,000 | 367,176,000 | 402,605,000 | |||||
Proceeds from sale of securities available for sale | 29,700,000 | |||||||
Commercial | ||||||||
Debt Securities, Available-for-sale [Line Items] | ||||||||
Amortized Cost | 530,206,000 | 530,206,000 | 481,081,000 | |||||
Gross Unrealized Gains | 13,437,000 | 13,437,000 | 1,024,000 | |||||
Gross Unrealized Losses | (2,712,000) | (2,712,000) | (12,979,000) | |||||
Estimated Fair Value | 540,931,000 | 540,931,000 | 469,126,000 | |||||
Corporate securities | ||||||||
Debt Securities, Available-for-sale [Line Items] | ||||||||
Amortized Cost | 5,000,000 | 5,000,000 | 5,000,000 | |||||
Gross Unrealized Gains | 0 | 0 | 0 | |||||
Gross Unrealized Losses | (1,120,000) | (1,120,000) | (1,174,000) | |||||
Estimated Fair Value | 3,880,000 | 3,880,000 | 3,826,000 | |||||
Municipal securities | ||||||||
Debt Securities, Available-for-sale [Line Items] | ||||||||
Amortized Cost | 70,007,000 | 70,007,000 | 77,168,000 | |||||
Gross Unrealized Gains | 565,000 | 565,000 | 398,000 | |||||
Gross Unrealized Losses | (555,000) | (555,000) | (1,980,000) | |||||
Estimated Fair Value | $ 70,017,000 | 70,017,000 | $ 75,586,000 | |||||
Proceeds from sale of securities available for sale | $ 39,500,000 | |||||||
Non-US Government and Agency Securities | Credit concentration risk | Stockholders' equity | ||||||||
Debt Securities, Available-for-sale [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 | Jun. 30, 2019 | Dec. 31, 2018 |
Amortized Cost | ||
Due within one year | $ 750 | |
Due after one year through five years | 3,560 | |
Due after five years through ten years | 2,648 | |
Due after ten years | 68,049 | |
Amortized Cost | 1,817,265 | $ 1,893,618 |
Estimated Fair Value | ||
Due within one year | 752 | |
Due after one year through five years | 3,569 | |
Due after five years through ten years | 2,720 | |
Due after ten years | 66,856 | |
Estimated Fair Value | 1,826,903 | 1,846,265 |
Carrying value of securities pledged to secure public deposits, pledged for various borrowings and for other purposes required or permitted by law | 350,400 | 354,600 |
Collateralized mortgage obligations | ||
Amortized Cost | ||
Amortized Cost | 842,576 | 914,710 |
Estimated Fair Value | ||
No single maturity date | 844,899 | |
Estimated Fair Value | 844,899 | 895,122 |
Residential | ||
Amortized Cost | ||
Amortized Cost | 369,476 | 415,659 |
Estimated Fair Value | ||
No single maturity date | 367,176 | |
Estimated Fair Value | 367,176 | 402,605 |
Commercial | ||
Amortized Cost | ||
Amortized Cost | 530,206 | 481,081 |
Estimated Fair Value | ||
No single maturity date | 540,931 | |
Estimated Fair Value | 540,931 | 469,126 |
Corporate securities | ||
Amortized Cost | ||
Amortized Cost | 5,000 | 5,000 |
Estimated Fair Value | ||
Estimated Fair Value | 3,880 | 3,826 |
Municipal securities | ||
Amortized Cost | ||
Amortized Cost | 70,007 | 77,168 |
Estimated Fair Value | ||
Estimated Fair Value | $ 70,017 | $ 75,586 |
Securities Available for Sale_3
Securities Available for Sale - Aggregate Unrealized Losses and Fair Value (Details) | 6 Months Ended | |
Jun. 30, 2019USD ($)security | Dec. 31, 2018USD ($)security | |
Number of Securities | ||
Less than 12 months | security | 0 | 21 |
12 months or longer | security | 108 | 198 |
Total | security | 108 | 219 |
Fair Value | ||
Less than 12 months | $ 0 | $ 72,036,000 |
12 months or longer | 839,240,000 | 1,422,127,000 |
Total | 839,240,000 | 1,494,163,000 |
Gross Unrealized Losses | ||
Less than 12 months | 0 | (366,000) |
12 months or longer | (10,720,000) | (49,997,000) |
Total | (10,720,000) | $ (50,363,000) |
Collateralized mortgage obligations | ||
Gross Unrealized Losses | ||
12 months or longer | (3,100,000) | |
OTTI recognized | $ 0 | |
Collateralized mortgage obligations | ||
Number of Securities | ||
Less than 12 months | security | 0 | 1 |
12 months or longer | security | 56 | 93 |
Total | security | 56 | 94 |
Fair Value | ||
Less than 12 months | $ 0 | $ 8,041,000 |
12 months or longer | 360,072,000 | 700,095,000 |
Total | 360,072,000 | 708,136,000 |
Gross Unrealized Losses | ||
Less than 12 months | 0 | (28,000) |
12 months or longer | (3,120,000) | (21,101,000) |
Total | $ (3,120,000) | $ (21,129,000) |
Residential | ||
Number of Securities | ||
Less than 12 months | security | 0 | 4 |
12 months or longer | security | 37 | 45 |
Total | security | 37 | 49 |
Fair Value | ||
Less than 12 months | $ 0 | $ 19,973,000 |
12 months or longer | 309,942,000 | 363,334,000 |
Total | 309,942,000 | 383,307,000 |
Gross Unrealized Losses | ||
Less than 12 months | 0 | (37,000) |
12 months or longer | (3,213,000) | (13,064,000) |
Total | $ (3,213,000) | $ (13,101,000) |
Commercial | ||
Number of Securities | ||
Less than 12 months | security | 0 | 3 |
12 months or longer | security | 11 | 27 |
Total | security | 11 | 30 |
Fair Value | ||
Less than 12 months | $ 0 | $ 38,494,000 |
12 months or longer | 147,737,000 | 312,428,000 |
Total | 147,737,000 | 350,922,000 |
Gross Unrealized Losses | ||
Less than 12 months | 0 | (218,000) |
12 months or longer | (2,712,000) | (12,761,000) |
Total | $ (2,712,000) | $ (12,979,000) |
Corporate securities | ||
Number of Securities | ||
Less than 12 months | security | 0 | 0 |
12 months or longer | security | 1 | 1 |
Total | security | 1 | 1 |
Fair Value | ||
Less than 12 months | $ 0 | $ 0 |
12 months or longer | 3,881,000 | 3,826,000 |
Total | 3,881,000 | 3,826,000 |
Gross Unrealized Losses | ||
Less than 12 months | 0 | 0 |
12 months or longer | (1,120,000) | (1,174,000) |
Total | $ (1,120,000) | $ (1,174,000) |
Municipal securities | ||
Number of Securities | ||
Less than 12 months | security | 0 | 13 |
12 months or longer | security | 3 | 32 |
Total | security | 3 | 45 |
Fair Value | ||
Less than 12 months | $ 0 | $ 5,528,000 |
12 months or longer | 17,608,000 | 42,444,000 |
Total | 17,608,000 | 47,972,000 |
Gross Unrealized Losses | ||
Less than 12 months | 0 | (83,000) |
12 months or longer | (555,000) | (1,897,000) |
Total | (555,000) | $ (1,980,000) |
OTTI recognized | 0 | |
Mortgage-backed securities | ||
Gross Unrealized Losses | ||
12 months or longer | (5,900,000) | |
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 | 6 Months Ended | |||||
Jun. 30, 2019USD ($)segment | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Real estate loans: | ||||||
Total loans outstanding | $ 11,976,007 | $ 12,097,906 | ||||
Deferred loan costs, net | 1,127 | 209 | ||||
Loans receivable | 11,977,134 | 12,098,115 | ||||
Allowance for loan losses | (94,066) | $ (94,217) | (92,557) | $ (89,881) | $ (86,461) | $ (84,541) |
Loans receivable, net of allowance for loan losses | $ 11,883,068 | 12,005,558 | ||||
Number of portfolio segments | segment | 4 | |||||
Real estate | ||||||
Real estate loans: | ||||||
Total loans outstanding | $ 8,630,852 | 8,721,600 | ||||
Real estate | Residential | ||||||
Real estate loans: | ||||||
Total loans outstanding | 51,167 | 51,197 | ||||
Allowance for loan losses | (88) | (112) | ||||
Real estate | Commercial | ||||||
Real estate loans: | ||||||
Total loans outstanding | 8,301,315 | 8,395,327 | ||||
Allowance for loan losses | (52,752) | (55,890) | ||||
Real estate | Construction | ||||||
Real estate loans: | ||||||
Total loans outstanding | 278,370 | 275,076 | ||||
Allowance for loan losses | (1,244) | (765) | ||||
Commercial business | ||||||
Real estate loans: | ||||||
Total loans outstanding | 2,265,287 | 2,127,630 | ||||
Allowance for loan losses | (31,355) | (27,765) | ||||
Trade finance | ||||||
Real estate loans: | ||||||
Total loans outstanding | 166,781 | 197,190 | ||||
Allowance for loan losses | (1,009) | (719) | ||||
Consumer and other | ||||||
Real estate loans: | ||||||
Total loans outstanding | 913,087 | 1,051,486 | ||||
Allowance for loan losses | $ (7,618) | $ (7,306) |
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 | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | $ 47,364 | $ 54,846 | $ 49,697 | $ 55,002 |
Accretion | (6,848) | (5,959) | (12,682) | (11,731) |
Reclassification from nonaccretable difference | 2,846 | 4,686 | 6,347 | 10,302 |
Balance at end of period | $ 43,362 | $ 53,573 | $ 43,362 | $ 53,573 |
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 | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | |
Allowance for Loan Losses and the Loans Receivables by Impairment Methodology | ||||||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 736 | $ 736 | ||||
Credit for unfunded loan commitments | $ 0 | $ 150 | $ 0 | $ (50) | ||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 94,217 | 86,461 | 92,557 | 84,541 | ||
Provision (credit) for loan losses | 1,200 | 2,300 | 4,200 | 4,800 | ||
Loans charged off | (2,076) | (1,263) | (3,830) | (2,331) | ||
Recoveries of charge offs | 725 | 2,383 | 2,017 | 2,871 | ||
PCI allowance adjustment | (878) | |||||
Balance, end of period | 94,066 | 89,881 | 94,066 | 89,881 | ||
Allowance for loan losses - Individually evaluated for impairment | 5,933 | 4,791 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 79,050 | 75,603 | ||||
Allowance for loan losses - Total | 94,217 | 86,461 | 94,066 | 84,541 | 94,066 | 92,557 |
Loans outstanding - Individually evaluated for impairment | 105,970 | 104,007 | ||||
Loans outstanding - Collectively evaluated for impairment | 11,742,529 | 11,846,646 | ||||
Loans outstanding - Total | 11,976,007 | 12,097,906 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 12,163 | |||||
Balance, end of period | 9,083 | 9,083 | ||||
Allowance for loan losses - Total | 9,083 | 9,083 | 9,083 | 12,163 | ||
Loans outstanding - Total | 127,508 | 147,253 | ||||
Loans outstanding - PCI loans | 36,400 | 57,500 | ||||
Legacy Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Loans outstanding - Total | 10,355,503 | 10,199,858 | ||||
Acquired Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Provision (credit) for loan losses | (503) | (253) | (383) | (2,500) | ||
Provision (credit) for PCI loan losses | (1,200) | (449) | (2,200) | (637) | ||
Loans outstanding - Total | 1,620,504 | 1,898,048 | ||||
Real estate | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Loans outstanding - Total | 8,630,852 | 8,721,600 | ||||
Real estate | Legacy Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 45,876 | 45,977 | 49,446 | 45,360 | ||
Provision (credit) for loan losses | 1,195 | 1,776 | (3,463) | 2,255 | ||
Loans charged off | (182) | (144) | (216) | (207) | ||
Recoveries of charge offs | 265 | 626 | 1,387 | 827 | ||
Balance, end of period | 47,154 | 48,235 | 47,154 | 48,235 | ||
Allowance for loan losses - Individually evaluated for impairment | 192 | 176 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 46,962 | 49,270 | ||||
Allowance for loan losses - Total | 45,876 | 45,977 | 47,154 | 45,360 | 47,154 | 49,446 |
Loans outstanding - Individually evaluated for impairment | 46,785 | 39,976 | ||||
Loans outstanding - Collectively evaluated for impairment | 7,160,408 | 7,037,392 | ||||
Loans outstanding - Total | 7,207,193 | 7,077,368 | ||||
Real estate | Legacy Loans | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
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 - Total | 0 | 0 | ||||
Real estate | Acquired Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 7,261 | 13,048 | 7,321 | 13,322 | ||
Provision (credit) for loan losses | (636) | (141) | (675) | (314) | ||
Loans charged off | 0 | (92) | (26) | (194) | ||
Recoveries of charge offs | 305 | 1 | 310 | 2 | ||
Balance, end of period | 6,930 | 12,816 | 6,930 | 12,816 | ||
Allowance for loan losses - Individually evaluated for impairment | 127 | 261 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 1,682 | 1,264 | ||||
Allowance for loan losses - Total | 7,261 | 13,048 | 6,930 | 12,816 | 6,930 | 7,321 |
Loans outstanding - Individually evaluated for impairment | 19,578 | 18,080 | ||||
Loans outstanding - Collectively evaluated for impairment | 1,289,871 | 1,507,858 | ||||
Loans outstanding - Total | 1,423,659 | 1,644,232 | ||||
Real estate | Acquired Loans | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 5,796 | |||||
Balance, end of period | 5,121 | 5,121 | ||||
Allowance for loan losses - Total | 5,121 | 5,121 | 5,121 | 5,796 | ||
Loans outstanding - Total | 114,210 | 118,294 | ||||
Commercial business | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 27,765 | |||||
Balance, end of period | 31,355 | 31,355 | ||||
Allowance for loan losses - Total | 31,355 | 31,355 | 31,355 | 27,765 | ||
Loans outstanding - Total | 2,265,287 | 2,127,630 | ||||
Commercial business | Legacy Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 27,376 | 20,387 | 21,826 | 17,228 | ||
Provision (credit) for loan losses | 183 | 487 | 6,804 | 3,776 | ||
Loans charged off | (922) | (446) | (2,082) | (788) | ||
Recoveries of charge offs | 120 | 1,603 | 209 | 1,815 | ||
Balance, end of period | 26,757 | 22,031 | 26,757 | 22,031 | ||
Allowance for loan losses - Individually evaluated for impairment | 4,282 | 4,221 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 22,475 | 17,605 | ||||
Allowance for loan losses - Total | 27,376 | 20,387 | 26,757 | 22,031 | 26,757 | 21,826 |
Loans outstanding - Individually evaluated for impairment | 26,159 | 29,624 | ||||
Loans outstanding - Collectively evaluated for impairment | 2,168,442 | 1,988,067 | ||||
Loans outstanding - Total | 2,194,601 | 2,017,691 | ||||
Commercial business | Legacy Loans | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
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 - Total | 0 | 0 | ||||
Commercial business | Acquired Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 5,000 | 1,308 | 5,939 | 3,527 | ||
Provision (credit) for loan losses | 195 | (96) | 313 | (2,142) | ||
Loans charged off | (629) | (352) | (877) | (566) | ||
Recoveries of charge offs | 32 | 131 | 101 | 172 | ||
PCI allowance adjustment | (878) | |||||
Balance, end of period | 4,598 | 991 | 4,598 | 991 | ||
Allowance for loan losses - Individually evaluated for impairment | 987 | 130 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 574 | 460 | ||||
Allowance for loan losses - Total | 5,000 | 1,308 | 4,598 | 3,527 | 4,598 | 5,939 |
Loans outstanding - Individually evaluated for impairment | 4,228 | 5,734 | ||||
Loans outstanding - Collectively evaluated for impairment | 58,080 | 80,916 | ||||
Loans outstanding - Total | 70,686 | 109,939 | ||||
Commercial business | Acquired Loans | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 5,349 | |||||
Balance, end of period | 3,037 | 3,037 | ||||
Allowance for loan losses - Total | 3,037 | 3,037 | 3,037 | 5,349 | ||
Loans outstanding - Total | 8,378 | 23,289 | ||||
Trade finance | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 719 | |||||
Balance, end of period | 1,009 | 1,009 | ||||
Allowance for loan losses - Total | 1,009 | 1,009 | 1,009 | 719 | ||
Loans outstanding - Total | 166,781 | 197,190 | ||||
Trade finance | Legacy Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 698 | 1,767 | 719 | 1,674 | ||
Provision (credit) for loan losses | 311 | (796) | 290 | (715) | ||
Loans charged off | 0 | 0 | 0 | 0 | ||
Recoveries of charge offs | 0 | 12 | 0 | 24 | ||
Balance, end of period | 1,009 | 983 | 1,009 | 983 | ||
Allowance for loan losses - Individually evaluated for impairment | 333 | 0 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 676 | 719 | ||||
Allowance for loan losses - Total | 698 | 1,767 | 1,009 | 1,674 | 1,009 | 719 |
Loans outstanding - Individually evaluated for impairment | 2,825 | 5,887 | ||||
Loans outstanding - Collectively evaluated for impairment | 160,638 | 188,179 | ||||
Loans outstanding - Total | 163,463 | 194,066 | ||||
Trade finance | Legacy Loans | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
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 - Total | 0 | 0 | ||||
Trade finance | Acquired Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 0 | 38 | 0 | 42 | ||
Provision (credit) for loan losses | 0 | (35) | 0 | (39) | ||
Loans charged off | 0 | 0 | 0 | 0 | ||
Recoveries of charge offs | 0 | 0 | 0 | 0 | ||
Balance, end of period | 0 | 3 | 0 | 3 | ||
Allowance for loan losses - Individually evaluated for impairment | 0 | 0 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 0 | 0 | ||||
Allowance for loan losses - Total | 0 | 38 | 0 | 3 | 0 | 0 |
Loans outstanding - Individually evaluated for impairment | 3,318 | 3,124 | ||||
Loans outstanding - Collectively evaluated for impairment | 0 | 0 | ||||
Loans outstanding - Total | 3,318 | 3,124 | ||||
Trade finance | Acquired Loans | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
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 - Total | 0 | 0 | ||||
Consumer and other | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 7,306 | |||||
Balance, end of period | 7,618 | 7,618 | ||||
Allowance for loan losses - Total | 7,618 | 7,618 | 7,618 | 7,306 | ||
Loans outstanding - Total | 913,087 | 1,051,486 | ||||
Consumer and other | Legacy Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 7,004 | 3,934 | 6,269 | 3,385 | ||
Provision (credit) for loan losses | 14 | 1,086 | 952 | 1,963 | ||
Loans charged off | (343) | (229) | (553) | (576) | ||
Recoveries of charge offs | 1 | 8 | 8 | 27 | ||
Balance, end of period | 6,676 | 4,799 | 6,676 | 4,799 | ||
Allowance for loan losses - Individually evaluated for impairment | 11 | 3 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 6,665 | 6,266 | ||||
Allowance for loan losses - Total | 7,004 | 3,934 | 6,676 | 3,385 | 6,676 | 6,269 |
Loans outstanding - Individually evaluated for impairment | 2,266 | 441 | ||||
Loans outstanding - Collectively evaluated for impairment | 787,980 | 910,292 | ||||
Loans outstanding - Total | 790,246 | 910,733 | ||||
Consumer and other | Legacy Loans | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
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 - Total | 0 | 0 | ||||
Consumer and other | Acquired Loans | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 1,002 | 2 | 1,037 | 3 | ||
Provision (credit) for loan losses | (62) | 19 | (21) | 16 | ||
Loans charged off | 0 | 0 | (76) | 0 | ||
Recoveries of charge offs | 2 | 2 | 2 | 4 | ||
Balance, end of period | 942 | 23 | 942 | 23 | ||
Allowance for loan losses - Individually evaluated for impairment | 1 | 0 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 16 | 19 | ||||
Allowance for loan losses - Total | 1,002 | $ 2 | 1,037 | $ 3 | 942 | 1,037 |
Loans outstanding - Individually evaluated for impairment | 811 | 1,141 | ||||
Loans outstanding - Collectively evaluated for impairment | 117,110 | 133,942 | ||||
Loans outstanding - Total | 122,841 | 140,753 | ||||
Consumer and other | Acquired Loans | Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 1,018 | |||||
Balance, end of period | 925 | 925 | ||||
Allowance for loan losses - Total | $ 925 | $ 925 | 925 | 1,018 | ||
Loans outstanding - Total | $ 4,920 | $ 5,670 |
Loans Receivable and Allowanc_6
Loans Receivable and Allowance for Loan Losses - Additional Information (Details) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019USD ($)loan | Jun. 30, 2018USD ($)loan | Jun. 30, 2019USD ($)loanloan_pool | Jun. 30, 2018USD ($)loan | Dec. 31, 2018USD ($) | |
Receivables [Abstract] | |||||
Commitment to lend | $ 736,000 | $ 736,000 | $ 736,000 | ||
Credit for unfunded loan commitments | $ 0 | $ 150,000 | $ 0 | $ (50,000) | |
Financing Receivable, Allowance for Credit Loss [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 | $ 1,200,000 | 2,300,000 | $ 4,200,000 | 4,800,000 | |
Specific reserves TDRs | 4,600,000 | 4,600,000 | $ 3,000,000 | ||
Specific reserves | 31,000 | 44,000 | 52,000 | 1,100,000 | |
Total charge-offs of TDR loans modified | 33,000 | 131,000 | 33,000 | 131,000 | |
Charge offs | 67,000 | 51,000 | 29,000 | 51,000 | |
Specific reserves for the TDRs that had payment defaults | $ 85,000 | $ 33,000 | $ 119,000 | $ 33,000 | |
Number of Loans | loan | 12 | 4 | 13 | 6 | |
Balance | $ 588,000 | $ 1,188,000 | $ 656,000 | $ 4,296,000 | |
Acquired Loans | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Provision (credit) for loan losses | (503,000) | (253,000) | (383,000) | (2,500,000) | |
Provision (credit) for PCI loan losses | $ (1,200,000) | $ (449,000) | $ (2,200,000) | $ (637,000) | |
Number of Loans | loan | 5 | 0 | 6 | 2 | |
Balance | $ 457,000 | $ 0 | $ 525,000 | $ 3,108,000 | |
Acquired Loans | Real estate | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Provision (credit) for loan losses | $ (636,000) | $ (141,000) | $ (675,000) | $ (314,000) | |
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Acquired Loans | Real estate | Payment concession | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Number of Loans | loan | 4 | 1 | |||
Balance | $ 218,000 | $ 3,100,000 | |||
Acquired Loans | Commercial business | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Provision (credit) for loan losses | $ 195,000 | $ (96,000) | $ 313,000 | $ (2,142,000) | |
Number of Loans | loan | 3 | 0 | 4 | 1 | |
Balance | $ 150,000 | $ 0 | $ 218,000 | $ 0 | |
Acquired Loans | Commercial business | Payment concession | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Number of Loans | loan | 3 | ||||
Balance | $ 218,000 | ||||
Acquired Loans | Consumer And Other Portfolio Segment [Member] | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Number of Loans | loan | 0 | 0 | |||
Balance | $ 0 | $ 0 | |||
Acquired Loans | Consumer and other | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Provision (credit) for loan losses | $ (62,000) | $ 19,000 | $ (21,000) | $ 16,000 | |
Number of Loans | loan | 0 | 0 | |||
Balance | $ 0 | $ 0 | |||
Legacy Loans | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Number of Loans | loan | 7 | 4 | 7 | 4 | |
Balance | $ 131,000 | $ 1,188,000 | $ 131,000 | $ 1,188,000 | |
Legacy Loans | Real estate | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Provision (credit) for loan losses | $ 1,195,000 | $ 1,776,000 | $ (3,463,000) | $ 2,255,000 | |
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Legacy Loans | Real estate | Payment concession | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Number of Loans | loan | 1 | ||||
Balance | $ 92,000 | ||||
Legacy Loans | Commercial business | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Provision (credit) for loan losses | $ 183,000 | $ 487,000 | $ 6,804,000 | $ 3,776,000 | |
Number of Loans | loan | 0 | 4 | 0 | 4 | |
Balance | $ 0 | $ 1,188,000 | $ 0 | $ 1,188,000 | |
Legacy Loans | Commercial business | Maturity / amortization concession | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Number of Loans | loan | 1 | 4 | |||
Balance | $ 673,000 | $ 1,200,000 | |||
Legacy Loans | Consumer And Other Portfolio Segment [Member] | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Number of Loans | loan | 6 | 0 | |||
Balance | $ 39,000 | $ 0 | |||
Legacy Loans | Consumer and other | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Provision (credit) for loan losses | $ 14,000 | $ 1,086,000 | $ 952,000 | $ 1,963,000 | |
Number of Loans | loan | 6 | 0 | |||
Balance | $ 39,000 | $ 0 | |||
Legacy Loans | Consumer and other | Payment concession | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Number of Loans | loan | 6 | ||||
Balance | $ 39,000 | ||||
Commercial real estate loan portfolio | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Number of non-homogeneous loan pools | loan_pool | 14 | ||||
Commercial and industrial loan portfolio | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Number of non-homogeneous loan pools | loan_pool | 5 | ||||
Doubtful or Loss | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Scope for evaluation of individual impairment, minimum threshold | 500,000 | $ 500,000 | |||
Scope for evaluation of collective 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 | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | $ 38,199 | $ 38,199 | $ 36,047 | ||
Recorded Investment, With no related allowance | 67,771 | 67,771 | 67,960 | ||
Related Allowance | 5,933 | 5,933 | 4,791 | ||
Impaired Loans, net of allowance | 100,037 | 100,037 | 99,216 | ||
Total recorded investment | 105,970 | 105,970 | 104,007 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 44,697 | 44,697 | 39,560 | ||
Unpaid Contractual Principal Balance, With no related allowance | 91,642 | 91,642 | 93,141 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 136,339 | 136,339 | 132,701 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 41,137 | $ 53,642 | 39,430 | $ 46,314 | |
Average Recorded Investment, With no related allowance | 77,954 | 69,272 | 74,623 | 69,230 | |
Average Recorded Investment, Total | 119,091 | 122,914 | 114,053 | 115,544 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 243 | 343 | 492 | 662 | |
Interest Income Recognized during Impairment, With no related allowance | 350 | 338 | 697 | 669 | |
Interest Income Recognized during Impairment, Total | 593 | 681 | $ 1,189 | 1,331 | |
Threshold period for loans to be placed on nonaccrual status | 90 days | ||||
Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 3,718 | $ 3,718 | 8,474 | ||
Recorded Investment, With no related allowance | 24,217 | 24,217 | 19,605 | ||
Related Allowance | 1,115 | 1,115 | 391 | ||
Total recorded investment | 27,935 | 27,935 | 28,079 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 7,797 | 7,797 | 10,566 | ||
Unpaid Contractual Principal Balance, With no related allowance | 31,401 | 31,401 | 26,593 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 39,198 | 39,198 | 37,159 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 5,050 | 15,802 | 6,676 | 11,538 | |
Average Recorded Investment, With no related allowance | 25,384 | 22,495 | 23,462 | 21,855 | |
Average Recorded Investment, Total | 30,434 | 38,297 | 30,138 | 33,393 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 26 | 101 | 52 | 195 | |
Interest Income Recognized during Impairment, With no related allowance | 180 | 162 | 359 | 306 | |
Interest Income Recognized during Impairment, Total | 206 | 263 | 411 | 501 | |
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 | 0 | 125 | 0 | 84 | |
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 | |
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 | 0 | 125 | 0 | 84 | |
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 | |
Real estate | Commercial | |||||
Impaired Loans, Recorded Investment | |||||
Related Allowance | 319 | 319 | 437 | ||
Real estate | Commercial | Retail | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 2,222 | 2,222 | 1,375 | ||
Recorded Investment, With no related allowance | 11,035 | 11,035 | 8,005 | ||
Related Allowance | 63 | 63 | 156 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 2,492 | 2,492 | 1,487 | ||
Unpaid Contractual Principal Balance, With no related allowance | 11,865 | 11,865 | 11,234 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 2,133 | 7,088 | 1,880 | 4,902 | |
Average Recorded Investment, With no related allowance | 17,808 | 10,917 | 14,540 | 11,209 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 6 | 7 | 11 | 15 | |
Interest Income Recognized during Impairment, With no related allowance | 35 | 36 | 70 | 71 | |
Real estate | Commercial | Retail | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 810 | 810 | 198 | ||
Recorded Investment, With no related allowance | 7,155 | 7,155 | 3,285 | ||
Related Allowance | 22 | 22 | 118 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 843 | 843 | 220 | ||
Unpaid Contractual Principal Balance, With no related allowance | 7,246 | 7,246 | 4,151 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 692 | 800 | 527 | 621 | |
Average Recorded Investment, With no related allowance | 7,344 | 3,108 | 5,991 | 3,209 | |
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 | 30 | 31 | 60 | 61 | |
Real estate | Commercial | Hotel & motel | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 1,789 | 1,789 | 1,949 | ||
Recorded Investment, With no related allowance | 10,136 | 10,136 | 10,877 | ||
Related Allowance | 103 | 103 | 119 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 2,658 | 2,658 | 2,310 | ||
Unpaid Contractual Principal Balance, With no related allowance | 20,811 | 20,811 | 22,590 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 1,812 | 2,792 | 1,857 | 2,838 | |
Average Recorded Investment, With no related allowance | 9,946 | 3,713 | 10,256 | 3,423 | |
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 | Hotel & motel | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 73 | 73 | 72 | ||
Recorded Investment, With no related allowance | 5,350 | 5,350 | 5,428 | ||
Related Allowance | 3 | 3 | 4 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 345 | 345 | 345 | ||
Unpaid Contractual Principal Balance, With no related allowance | 6,790 | 6,790 | 6,874 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 73 | 79 | 73 | 81 | |
Average Recorded Investment, With no related allowance | 5,371 | 1,029 | 5,390 | 847 | |
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 | 61 | 61 | 0 | ||
Recorded Investment, With no related allowance | 456 | 456 | 545 | ||
Related Allowance | 0 | 0 | 0 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 1,967 | 1,967 | 0 | ||
Unpaid Contractual Principal Balance, With no related allowance | 1,660 | 1,660 | 3,653 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 61 | 0 | 31 | 0 | |
Average Recorded Investment, With no related allowance | 494 | 542 | 511 | 558 | |
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 | 4 | 0 | 9 | 0 | |
Real estate | Commercial | Gas station & car wash | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 61 | 61 | 0 | ||
Recorded Investment, With no related allowance | 183 | 183 | 247 | ||
Related Allowance | 0 | 0 | 0 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 1,967 | 1,967 | 0 | ||
Unpaid Contractual Principal Balance, With no related allowance | 706 | 706 | 2,673 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 30 | 0 | 20 | 0 | |
Average Recorded Investment, With no related allowance | 215 | 193 | 225 | 129 | |
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 | 836 | 836 | 881 | ||
Recorded Investment, With no related allowance | 3,473 | 3,473 | 7,048 | ||
Related Allowance | 25 | 25 | 43 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 924 | 924 | 947 | ||
Unpaid Contractual Principal Balance, With no related allowance | 3,576 | 3,576 | 7,058 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 847 | 2,985 | 859 | 2,094 | |
Average Recorded Investment, With no related allowance | 5,345 | 2,475 | 5,912 | 2,017 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 2 | 39 | 3 | 75 | |
Interest Income Recognized during Impairment, With no related allowance | 51 | 50 | 102 | 100 | |
Real estate | Commercial | Mixed use | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 293 | 293 | 312 | ||
Recorded Investment, With no related allowance | 194 | 194 | 3,722 | ||
Related Allowance | 22 | 22 | 38 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 297 | 297 | 312 | ||
Unpaid Contractual Principal Balance, With no related allowance | 285 | 285 | 3,726 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 298 | 2,899 | 303 | 1,976 | |
Average Recorded Investment, With no related allowance | 2,049 | 36 | 2,607 | 74 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 2 | 39 | 3 | 75 | |
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 | 6,908 | 6,908 | 1,305 | ||
Recorded Investment, With no related allowance | 11,944 | 11,944 | 12,343 | ||
Related Allowance | 121 | 121 | 93 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 8,671 | 8,671 | 2,139 | ||
Unpaid Contractual Principal Balance, With no related allowance | 12,531 | 12,531 | 13,467 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 7,249 | 2,616 | 5,267 | 2,002 | |
Average Recorded Investment, With no related allowance | 10,998 | 11,886 | 11,447 | 10,733 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 90 | 36 | 170 | 67 | |
Interest Income Recognized during Impairment, With no related allowance | 64 | 56 | 127 | 112 | |
Real estate | Commercial | Industrial & warehouse | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 328 | 328 | 230 | ||
Recorded Investment, With no related allowance | 0 | 0 | 119 | ||
Related Allowance | 80 | 80 | 88 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 1,920 | 1,920 | 1,050 | ||
Unpaid Contractual Principal Balance, With no related allowance | 0 | 0 | 894 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 282 | 266 | 264 | 251 | |
Average Recorded Investment, With no related allowance | 93 | 491 | 106 | 342 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 1 | |
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | 0 | |
Real estate | Commercial | Other | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 839 | 839 | 7,759 | ||
Recorded Investment, With no related allowance | 16,664 | 16,664 | 5,969 | ||
Related Allowance | 7 | 7 | 26 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 1,103 | 1,103 | 8,174 | ||
Unpaid Contractual Principal Balance, With no related allowance | 21,123 | 21,123 | 7,122 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 2,597 | 6,655 | 4,318 | 5,902 | |
Average Recorded Investment, With no related allowance | 15,524 | 13,587 | 12,339 | 15,819 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 5 | 24 | 11 | 47 | |
Interest Income Recognized during Impairment, With no related allowance | 82 | 112 | 166 | 233 | |
Real estate | Commercial | Other | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 0 | 0 | 3,454 | ||
Recorded Investment, With no related allowance | 5,131 | 5,131 | 1,013 | ||
Related Allowance | 0 | 0 | 13 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 0 | 0 | 3,454 | ||
Unpaid Contractual Principal Balance, With no related allowance | 8,448 | 8,448 | 1,326 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 544 | 3,314 | 1,999 | 2,316 | |
Average Recorded Investment, With no related allowance | 4,749 | 4,475 | 3,504 | 6,027 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 0 | 19 | 0 | 37 | |
Interest Income Recognized during Impairment, With no related allowance | 67 | 60 | 133 | 117 | |
Real estate | Construction | |||||
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 | 650 | 0 | 867 | |
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 | 21,761 | 21,761 | 22,203 | ||
Recorded Investment, With no related allowance | 8,626 | 8,626 | 13,155 | ||
Related Allowance | 5,269 | 5,269 | 4,351 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 23,091 | 23,091 | 23,928 | ||
Unpaid Contractual Principal Balance, With no related allowance | 14,554 | 14,554 | 17,850 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 24,019 | 27,487 | 23,414 | 24,435 | |
Average Recorded Investment, With no related allowance | 10,576 | 20,530 | 11,436 | 19,752 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 139 | 168 | 295 | 331 | |
Interest Income Recognized during Impairment, With no related allowance | 62 | 37 | 121 | 63 | |
Commercial business | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 2,022 | 2,022 | 4,064 | ||
Recorded Investment, With no related allowance | 2,206 | 2,206 | 1,670 | ||
Related Allowance | 987 | 987 | 130 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 2,294 | 2,294 | 5,041 | ||
Unpaid Contractual Principal Balance, With no related allowance | 3,843 | 3,843 | 2,681 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 2,998 | 8,243 | 3,353 | 6,158 | |
Average Recorded Investment, With no related allowance | 1,640 | 8,380 | 1,650 | 6,660 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 24 | 41 | 49 | 80 | |
Interest Income Recognized during Impairment, With no related allowance | 31 | 24 | 64 | 38 | |
Trade finance | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 2,825 | 2,825 | 0 | ||
Recorded Investment, With no related allowance | 3,318 | 3,318 | 9,011 | ||
Related Allowance | 333 | 333 | 0 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 2,825 | 2,825 | 0 | ||
Unpaid Contractual Principal Balance, With no related allowance | 3,318 | 3,318 | 9,011 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 1,463 | 3,146 | 975 | 3,384 | |
Average Recorded Investment, With no related allowance | 5,813 | 3,165 | 6,879 | 3,134 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 1 | 63 | 2 | 121 | |
Interest Income Recognized during Impairment, With no related allowance | 52 | 47 | 102 | 90 | |
Trade finance | Acquired Loans | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 0 | 0 | 0 | ||
Recorded Investment, With no related allowance | 3,318 | 3,318 | 3,124 | ||
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 | 3,318 | 3,318 | 3,124 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 0 | 0 | 0 | 0 | |
Average Recorded Investment, With no related allowance | 3,192 | 3,165 | 3,169 | 3,104 | |
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 | 52 | 47 | 102 | 90 | |
Consumer and other | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 958 | 958 | 575 | ||
Recorded Investment, With no related allowance | 2,119 | 2,119 | 1,007 | ||
Related Allowance | 12 | 12 | 3 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 966 | 966 | 575 | ||
Unpaid Contractual Principal Balance, With no related allowance | 2,204 | 2,204 | 1,156 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 956 | 748 | 829 | 673 | |
Average Recorded Investment, With no related allowance | 1,450 | 1,807 | 1,303 | 1,718 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 0 | 6 | 0 | 6 | |
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 | 131 | 131 | 144 | ||
Recorded Investment, With no related allowance | 680 | 680 | 997 | ||
Related Allowance | 1 | 1 | 0 | ||
Impaired Loans, Unpaid Principal Balance | |||||
Unpaid Contractual Principal Balance, With related allowance | 131 | 131 | 144 | ||
Unpaid Contractual Principal Balance, With no related allowance | 765 | 765 | 1,144 | ||
Impaired Loans, Average Recorded Investment | |||||
Average Recorded Investment, With related allowance | 133 | 76 | 137 | 51 | |
Average Recorded Investment, With no related allowance | 731 | 1,618 | 820 | 1,463 | |
Impaired Loans, Interest Income Recognized during Impairment | |||||
Interest Income Recognized during Impairment, With related allowance | 0 | 2 | 0 | 2 | |
Interest Income Recognized during Impairment, With no related allowance | 0 | $ 0 | 0 | $ 0 | |
WIthout charge-offs | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 36,966 | 36,966 | 35,365 | ||
Recorded Investment, With no related allowance | 57,249 | 57,249 | 59,607 | ||
With charge-offs | |||||
Impaired Loans, Recorded Investment | |||||
Recorded Investment, With related allowance | 1,233 | 1,233 | 681 | ||
Recorded Investment, With no related allowance | $ 10,522 | $ 10,522 | $ 8,354 |
Loans Receivable and Allowanc_8
Loans Receivable and Allowance for Loan Losses - Past Due Financing Receivables (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | $ 64,934 | $ 53,286 |
Accruing loans past due 90 or more days | 353 | 1,529 |
Guaranteed portion of delinquent SBA loans excluded from Nonaccrual loans | 32,100 | 29,200 |
Past due loans | 65,093 | 56,936 |
30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 20,501 | 28,467 |
60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 3,552 | 1,407 |
90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 41,040 | 27,062 |
Legacy Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 50,249 | 42,248 |
Accruing loans past due 90 or more days | 353 | 243 |
Past due loans | 51,006 | 47,005 |
Legacy Loans | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 18,195 | 27,137 |
Legacy Loans | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 2,685 | 575 |
Legacy Loans | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 30,126 | 19,293 |
Acquired Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 14,685 | 11,038 |
Accruing loans past due 90 or more days | 0 | 1,286 |
Past due loans | 14,087 | 9,931 |
Acquired Loans | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 2,306 | 1,330 |
Acquired Loans | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 867 | 832 |
Acquired Loans | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 10,914 | 7,769 |
Residential | Legacy Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Accruing loans past due 90 or more days | 0 | 0 |
Residential | Acquired Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Legacy Loans | Retail | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 4,682 | 5,153 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Legacy Loans | Hotel & motel | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 6,503 | 7,325 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Legacy Loans | Gas station & car wash | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 31 | 31 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Legacy Loans | Mixed use | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 717 | 749 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Legacy Loans | Industrial & warehouse | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 7,278 | 6,111 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Legacy Loans | Other | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 10,794 | 5,940 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Acquired Loans | Retail | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 5,350 | 829 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Acquired Loans | Hotel & motel | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 5,423 | 5,500 |
Accruing loans past due 90 or more days | 0 | 1,286 |
Commercial | Acquired Loans | Gas station & car wash | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 245 | 247 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Acquired Loans | Mixed use | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 370 | 1,224 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Acquired Loans | Industrial & warehouse | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 328 | 349 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial | Acquired Loans | Other | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 1,201 | 259 |
Accruing loans past due 90 or more days | 0 | 0 |
Construction | Legacy Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Accruing loans past due 90 or more days | 0 | 0 |
Construction | Acquired Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Accruing loans past due 90 or more days | 0 | 0 |
Commercial business | Legacy Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 15,318 | 14,837 |
Accruing loans past due 90 or more days | 0 | 0 |
Past due loans | 12,242 | 12,938 |
Commercial business | Legacy Loans | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 1,450 | 5,500 |
Commercial business | Legacy Loans | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 121 | 435 |
Commercial business | Legacy Loans | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 10,671 | 7,003 |
Commercial business | Acquired Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 958 | 1,632 |
Accruing loans past due 90 or more days | 0 | 0 |
Past due loans | 321 | 1,263 |
Commercial business | Acquired Loans | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 84 | 397 |
Commercial business | Acquired Loans | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 613 |
Commercial business | Acquired Loans | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 237 | 253 |
Trade finance | Legacy Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 2,721 | 1,661 |
Accruing loans past due 90 or more days | 0 | 0 |
Past due loans | 2,721 | 2,697 |
Trade finance | Legacy Loans | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 1,036 |
Trade finance | Legacy Loans | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Trade finance | Legacy Loans | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 2,721 | 1,661 |
Trade finance | Acquired Loans | ||
Financing Receivable, 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, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Trade finance | Acquired Loans | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Trade finance | Acquired Loans | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Consumer and other | Legacy Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 2,205 | 441 |
Accruing loans past due 90 or more days | 353 | 243 |
Past due loans | 7,767 | 16,800 |
Consumer and other | Legacy Loans | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 5,721 | 16,413 |
Consumer and other | Legacy Loans | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 250 | 140 |
Consumer and other | Legacy Loans | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 1,796 | 247 |
Consumer and other | Acquired Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Nonaccrual loans | 810 | 998 |
Accruing loans past due 90 or more days | 0 | 0 |
Past due loans | 2,314 | 334 |
Consumer and other | Acquired Loans | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 1,337 | 0 |
Consumer and other | Acquired Loans | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 709 | 0 |
Consumer and other | Acquired Loans | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 268 | 334 |
Real estate | Legacy Loans | Residential | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Legacy Loans | Residential | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Legacy Loans | Residential | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Legacy Loans | Residential | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Legacy Loans | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Legacy Loans | Construction | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Legacy Loans | Construction | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Legacy Loans | Construction | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Legacy Loans | Retail | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 1,108 | 1,542 |
Real estate | Legacy Loans | Retail | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 733 |
Real estate | Legacy Loans | Retail | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 811 | 0 |
Real estate | Legacy Loans | Retail | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 297 | 809 |
Real estate | Legacy Loans | Hotel & motel | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 5,743 | 5,368 |
Real estate | Legacy Loans | Hotel & motel | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 1,716 | 153 |
Real estate | Legacy Loans | Hotel & motel | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 347 | 0 |
Real estate | Legacy Loans | Hotel & motel | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 3,680 | 5,215 |
Real estate | Legacy Loans | Gas station & car wash | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 689 | 31 |
Real estate | Legacy Loans | Gas station & car wash | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 658 | 0 |
Real estate | Legacy Loans | Gas station & car wash | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, 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, Past Due [Line Items] | ||
Past due loans | 31 | 31 |
Real estate | Legacy Loans | Mixed use | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 358 | 0 |
Real estate | Legacy Loans | Mixed use | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Legacy Loans | Mixed use | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 174 | 0 |
Real estate | Legacy Loans | Mixed use | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 184 | 0 |
Real estate | Legacy Loans | Industrial & warehouse | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 4,310 | 3,387 |
Real estate | Legacy Loans | Industrial & warehouse | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 74 | 1,465 |
Real estate | Legacy Loans | Industrial & warehouse | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 849 | 0 |
Real estate | Legacy Loans | Industrial & warehouse | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 3,387 | 1,922 |
Real estate | Legacy Loans | Other | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 16,068 | 4,242 |
Real estate | Legacy Loans | Other | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 8,576 | 1,837 |
Real estate | Legacy Loans | Other | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 133 | 0 |
Real estate | Legacy Loans | Other | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 7,359 | 2,405 |
Real estate | Acquired Loans | Residential | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Residential | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Residential | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Residential | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Construction | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Construction | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Construction | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Retail | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 5,039 | 949 |
Real estate | Acquired Loans | Retail | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 347 |
Real estate | Acquired Loans | Retail | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 38 | 0 |
Real estate | Acquired Loans | Retail | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 5,001 | 602 |
Real estate | Acquired Loans | Hotel & motel | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 4,462 | 5,206 |
Real estate | Acquired Loans | Hotel & motel | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Hotel & motel | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Hotel & motel | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 4,462 | 5,206 |
Real estate | Acquired Loans | Gas station & car wash | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 221 | 375 |
Real estate | Acquired Loans | Gas station & car wash | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 154 |
Real estate | Acquired Loans | Gas station & car wash | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Gas station & car wash | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 221 | 221 |
Real estate | Acquired Loans | Mixed use | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 194 | 1,141 |
Real estate | Acquired Loans | Mixed use | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 107 |
Real estate | Acquired Loans | Mixed use | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 0 |
Real estate | Acquired Loans | Mixed use | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 194 | 1,034 |
Real estate | Acquired Loans | Industrial & warehouse | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 542 | 261 |
Real estate | Acquired Loans | Industrial & warehouse | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 94 | 142 |
Real estate | Acquired Loans | Industrial & warehouse | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 120 | 0 |
Real estate | Acquired Loans | Industrial & warehouse | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 328 | 119 |
Real estate | Acquired Loans | Other | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 994 | 402 |
Real estate | Acquired Loans | Other | Commercial | 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 791 | 183 |
Real estate | Acquired Loans | Other | Commercial | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | 0 | 219 |
Real estate | Acquired Loans | Other | Commercial | 90 or More Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Past due loans | $ 203 | $ 0 |
Loans Receivable and Allowanc_9
Loans Receivable and Allowance for Loan Losses - Financing Receivable Credit Quality Indicators (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | $ 11,976,007 | $ 12,097,906 |
Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 11,465,680 | 11,616,490 |
Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 186,485 | 163,089 |
Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 323,841 | 317,915 |
Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 1 | 412 |
Real estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 8,630,852 | 8,721,600 |
Real estate | Residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 51,167 | 51,197 |
Real estate | Commercial | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 8,301,315 | 8,395,327 |
Real estate | Construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 278,370 | 275,076 |
Commercial business | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 2,265,287 | 2,127,630 |
Trade finance | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 166,781 | 197,190 |
Consumer and other | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 913,087 | 1,051,486 |
Legacy Loans | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 10,355,503 | 10,199,858 |
Legacy Loans | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 10,005,777 | 9,884,742 |
Legacy Loans | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 147,050 | 121,622 |
Legacy Loans | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 202,676 | 193,494 |
Legacy Loans | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Real estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 7,207,193 | 7,077,368 |
Legacy Loans | Real estate | Residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 46,089 | 44,612 |
Legacy Loans | Real estate | Residential | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 45,944 | 44,066 |
Legacy Loans | Real estate | Residential | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Real estate | Residential | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 145 | 546 |
Legacy Loans | Real estate | Residential | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Real estate | Commercial | Retail | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 1,856,206 | 1,863,928 |
Legacy Loans | Real estate | Commercial | Retail | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 1,784,344 | 1,815,170 |
Legacy Loans | Real estate | Commercial | Retail | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 35,150 | 18,072 |
Legacy Loans | Real estate | Commercial | Retail | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 36,712 | 30,686 |
Legacy Loans | Real estate | Commercial | Retail | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Real estate | Commercial | Hotel & motel | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 1,432,032 | 1,427,150 |
Legacy Loans | Real estate | Commercial | Hotel & motel | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 1,389,821 | 1,389,349 |
Legacy Loans | Real estate | Commercial | Hotel & motel | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 10,341 | 21,932 |
Legacy Loans | Real estate | Commercial | Hotel & motel | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 31,870 | 15,869 |
Legacy Loans | Real estate | Commercial | Hotel & motel | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Real estate | Commercial | Gas station & car wash | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 823,543 | 819,565 |
Legacy Loans | Real estate | Commercial | Gas station & car wash | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 818,660 | 814,291 |
Legacy Loans | Real estate | Commercial | Gas station & car wash | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 2,761 | 2,810 |
Legacy Loans | Real estate | Commercial | Gas station & car wash | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 2,122 | 2,464 |
Legacy Loans | Real estate | Commercial | Gas station & car wash | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Real estate | Commercial | Mixed use | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 576,570 | 535,793 |
Legacy Loans | Real estate | Commercial | Mixed use | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 550,044 | 510,021 |
Legacy Loans | Real estate | Commercial | Mixed use | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 12,967 | 12,480 |
Legacy Loans | Real estate | Commercial | Mixed use | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 13,559 | 13,292 |
Legacy Loans | Real estate | Commercial | Mixed use | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Real estate | Commercial | Industrial & warehouse | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 756,608 | 751,233 |
Legacy Loans | Real estate | Commercial | Industrial & warehouse | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 721,166 | 711,236 |
Legacy Loans | Real estate | Commercial | Industrial & warehouse | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 945 | 1,665 |
Legacy Loans | Real estate | Commercial | Industrial & warehouse | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 34,497 | 38,332 |
Legacy Loans | Real estate | Commercial | Industrial & warehouse | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Real estate | Commercial | Other | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 1,447,464 | 1,396,952 |
Legacy Loans | Real estate | Commercial | Other | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 1,375,120 | 1,326,795 |
Legacy Loans | Real estate | Commercial | Other | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 32,591 | 35,539 |
Legacy Loans | Real estate | Commercial | Other | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 39,753 | 34,618 |
Legacy Loans | Real estate | Commercial | Other | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Real estate | Construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 268,681 | 238,135 |
Legacy Loans | Real estate | Construction | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 252,432 | 227,231 |
Legacy Loans | Real estate | Construction | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 16,249 | 10,904 |
Legacy Loans | Real estate | Construction | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Real estate | Construction | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Commercial business | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 2,194,601 | 2,017,691 |
Legacy Loans | Commercial business | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 2,119,781 | 1,944,783 |
Legacy Loans | Commercial business | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 35,789 | 18,220 |
Legacy Loans | Commercial business | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 39,031 | 54,688 |
Legacy Loans | Commercial business | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Trade finance | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 163,463 | 194,066 |
Legacy Loans | Trade finance | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 160,669 | 191,508 |
Legacy Loans | Trade finance | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 73 | 0 |
Legacy Loans | Trade finance | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 2,721 | 2,558 |
Legacy Loans | Trade finance | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Legacy Loans | Consumer and other | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 790,246 | 910,733 |
Legacy Loans | Consumer and other | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 787,796 | 910,292 |
Legacy Loans | Consumer and other | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 184 | 0 |
Legacy Loans | Consumer and other | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 2,266 | 441 |
Legacy Loans | Consumer and other | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 1,620,504 | 1,898,048 |
Acquired Loans | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 1,459,903 | 1,731,748 |
Acquired Loans | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 39,435 | 41,467 |
Acquired Loans | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 121,165 | 124,421 |
Acquired Loans | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 1 | 412 |
Acquired Loans | Real estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 1,423,659 | 1,644,232 |
Acquired Loans | Real estate | Residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 5,078 | 6,585 |
Acquired Loans | Real estate | Residential | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 4,362 | 5,812 |
Acquired Loans | Real estate | Residential | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 387 | 393 |
Acquired Loans | Real estate | Residential | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 329 | 380 |
Acquired Loans | Real estate | Residential | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Real estate | Commercial | Retail | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 429,701 | 505,957 |
Acquired Loans | Real estate | Commercial | Retail | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 401,670 | 483,939 |
Acquired Loans | Real estate | Commercial | Retail | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 5,844 | 4,651 |
Acquired Loans | Real estate | Commercial | Retail | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 22,187 | 17,332 |
Acquired Loans | Real estate | Commercial | Retail | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 35 |
Acquired Loans | Real estate | Commercial | Hotel & motel | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 185,560 | 207,040 |
Acquired Loans | Real estate | Commercial | Hotel & motel | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 166,101 | 186,761 |
Acquired Loans | Real estate | Commercial | Hotel & motel | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 298 | 807 |
Acquired Loans | Real estate | Commercial | Hotel & motel | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 19,161 | 19,472 |
Acquired Loans | Real estate | Commercial | Hotel & motel | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Real estate | Commercial | Gas station & car wash | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 126,679 | 155,008 |
Acquired Loans | Real estate | Commercial | Gas station & car wash | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 121,640 | 148,702 |
Acquired Loans | Real estate | Commercial | Gas station & car wash | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 274 |
Acquired Loans | Real estate | Commercial | Gas station & car wash | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 5,039 | 6,032 |
Acquired Loans | Real estate | Commercial | Gas station & car wash | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Real estate | Commercial | Mixed use | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 99,517 | 89,237 |
Acquired Loans | Real estate | Commercial | Mixed use | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 87,781 | 77,100 |
Acquired Loans | Real estate | Commercial | Mixed use | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 7,225 | 3,986 |
Acquired Loans | Real estate | Commercial | Mixed use | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 4,511 | 8,151 |
Acquired Loans | Real estate | Commercial | Mixed use | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Real estate | Commercial | Industrial & warehouse | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 176,848 | 199,319 |
Acquired Loans | Real estate | Commercial | Industrial & warehouse | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 153,008 | 171,574 |
Acquired Loans | Real estate | Commercial | Industrial & warehouse | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 4,132 | 9,451 |
Acquired Loans | Real estate | Commercial | Industrial & warehouse | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 19,708 | 18,071 |
Acquired Loans | Real estate | Commercial | Industrial & warehouse | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 223 |
Acquired Loans | Real estate | Commercial | Other | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 390,587 | 444,145 |
Acquired Loans | Real estate | Commercial | Other | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 351,841 | 402,247 |
Acquired Loans | Real estate | Commercial | Other | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 10,066 | 12,902 |
Acquired Loans | Real estate | Commercial | Other | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 28,680 | 28,996 |
Acquired Loans | Real estate | Commercial | Other | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Real estate | Construction | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 9,689 | 36,941 |
Acquired Loans | Real estate | Construction | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 29,058 |
Acquired Loans | Real estate | Construction | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 9,689 | 7,883 |
Acquired Loans | Real estate | Construction | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Real estate | Construction | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Commercial business | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 70,686 | 109,939 |
Acquired Loans | Commercial business | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 53,607 | 89,611 |
Acquired Loans | Commercial business | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 1,778 | 1,083 |
Acquired Loans | Commercial business | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 15,300 | 19,237 |
Acquired Loans | Commercial business | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 1 | 8 |
Acquired Loans | Trade finance | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 3,318 | 3,124 |
Acquired Loans | Trade finance | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Trade finance | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Trade finance | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 3,318 | 3,124 |
Acquired Loans | Trade finance | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 0 | 0 |
Acquired Loans | Consumer and other | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 122,841 | 140,753 |
Acquired Loans | Consumer and other | Pass/Not Rated | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 119,893 | 136,944 |
Acquired Loans | Consumer and other | Special Mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 16 | 37 |
Acquired Loans | Consumer and other | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | 2,932 | 3,626 |
Acquired Loans | Consumer and other | Doubtful or Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Loans | $ 0 | $ 146 |
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 | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Consumer and other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Sale or reclassification to held for sale | $ 49,601 | $ 0 | $ 82,991 | $ 6,155 |
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 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (recorded investment) | $ 105,970 | $ 104,007 | ||||
Specific allowance | $ 5,933 | $ 4,791 | ||||
Specific allowance to impaired loans | 5.60% | 4.61% | ||||
Other loans | $ 11,870,037 | $ 11,993,899 | ||||
General allowance | $ 88,133 | $ 87,766 | ||||
General allowance to other loans | 0.74% | 0.73% | ||||
Total loans | $ 11,976,007 | $ 12,097,906 | ||||
Total allowance for loan losses | $ 94,066 | $ 94,217 | $ 92,557 | $ 89,881 | $ 86,461 | $ 84,541 |
Total allowance to total loans | 0.79% | 0.77% | ||||
Real estate | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | $ 8,630,852 | $ 8,721,600 | ||||
Real estate | Residential | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (recorded investment) | 0 | 0 | ||||
Specific allowance | 0 | 0 | ||||
Other loans | 51,167 | 51,197 | ||||
General allowance | $ 88 | $ 112 | ||||
General allowance to other loans | 0.17% | 0.22% | ||||
Total loans | $ 51,167 | $ 51,197 | ||||
Total allowance for loan losses | $ 88 | $ 112 | ||||
Total allowance to total loans | 0.17% | 0.22% | ||||
Real estate | Commercial | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (recorded investment) | $ 66,363 | $ 58,056 | ||||
Specific allowance | $ 319 | $ 437 | ||||
Specific allowance to impaired loans | 0.48% | 0.75% | ||||
Other loans | $ 8,234,952 | $ 8,337,271 | ||||
General allowance | $ 52,433 | $ 55,453 | ||||
General allowance to other loans | 0.64% | 0.67% | ||||
Total loans | $ 8,301,315 | $ 8,395,327 | ||||
Total allowance for loan losses | $ 52,752 | $ 55,890 | ||||
Total allowance to total loans | 0.64% | 0.67% | ||||
Real estate | Construction | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (recorded investment) | $ 0 | $ 0 | ||||
Specific allowance | 0 | 0 | ||||
Other loans | 278,370 | 275,076 | ||||
General allowance | $ 1,244 | $ 765 | ||||
General allowance to other loans | 0.45% | 0.28% | ||||
Total loans | $ 278,370 | $ 275,076 | ||||
Total allowance for loan losses | $ 1,244 | $ 765 | ||||
Total allowance to total loans | 0.45% | 0.28% | ||||
Commercial business | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (recorded investment) | $ 30,387 | $ 35,358 | ||||
Specific allowance | $ 5,269 | $ 4,351 | ||||
Specific allowance to impaired loans | 17.34% | 12.31% | ||||
Other loans | $ 2,234,900 | $ 2,092,272 | ||||
General allowance | $ 26,086 | $ 23,414 | ||||
General allowance to other loans | 1.17% | 1.12% | ||||
Total loans | $ 2,265,287 | $ 2,127,630 | ||||
Total allowance for loan losses | $ 31,355 | $ 27,765 | ||||
Total allowance to total loans | 1.38% | 1.30% | ||||
Trade finance | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (recorded investment) | $ 6,143 | $ 9,011 | ||||
Specific allowance | $ 333 | $ 0 | ||||
Specific allowance to impaired loans | 5.42% | 0.00% | ||||
Other loans | $ 160,638 | $ 188,179 | ||||
General allowance | $ 676 | $ 719 | ||||
General allowance to other loans | 0.42% | 0.38% | ||||
Total loans | $ 166,781 | $ 197,190 | ||||
Total allowance for loan losses | $ 1,009 | $ 719 | ||||
Total allowance to total loans | 0.60% | 0.36% | ||||
Consumer and other | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (recorded investment) | $ 3,077 | $ 1,582 | ||||
Specific allowance | $ 12 | $ 3 | ||||
Specific allowance to impaired loans | 0.39% | 0.19% | ||||
Other loans | $ 910,010 | $ 1,049,904 | ||||
General allowance | $ 7,606 | $ 7,303 | ||||
General allowance to other loans | 0.84% | 0.70% | ||||
Total loans | $ 913,087 | $ 1,051,486 | ||||
Total allowance for loan losses | $ 7,618 | $ 7,306 | ||||
Total allowance to total loans | 0.83% | 0.69% | ||||
Acquired Loans | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Specific allowance | $ 1,115 | $ 391 | ||||
Total loans | 1,620,504 | 1,898,048 | ||||
Acquired Loans | Real estate | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | 1,423,659 | 1,644,232 | ||||
Total allowance for loan losses | 6,930 | 7,261 | 7,321 | 12,816 | 13,048 | 13,322 |
Acquired Loans | Real estate | Residential | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Specific allowance | 0 | 0 | ||||
Total loans | 5,078 | 6,585 | ||||
Acquired Loans | Real estate | Construction | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Specific allowance | 0 | 0 | ||||
Total loans | 9,689 | 36,941 | ||||
Acquired Loans | Commercial business | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Specific allowance | 987 | 130 | ||||
Total loans | 70,686 | 109,939 | ||||
Total allowance for loan losses | 4,598 | 5,000 | 5,939 | 991 | 1,308 | 3,527 |
Acquired Loans | Trade finance | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Specific allowance | 0 | 0 | ||||
Total loans | 3,318 | 3,124 | ||||
Total allowance for loan losses | 0 | 0 | 0 | 3 | 38 | 42 |
Acquired Loans | Consumer and other | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Specific allowance | 1 | 0 | ||||
Total loans | 122,841 | 140,753 | ||||
Total allowance for loan losses | 942 | 1,002 | 1,037 | 23 | 2 | 3 |
Legacy Loans | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | 10,355,503 | 10,199,858 | ||||
Legacy Loans | Real estate | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | 7,207,193 | 7,077,368 | ||||
Total allowance for loan losses | 47,154 | 45,876 | 49,446 | 48,235 | 45,977 | 45,360 |
Legacy Loans | Real estate | Residential | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | 46,089 | 44,612 | ||||
Legacy Loans | Real estate | Construction | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | 268,681 | 238,135 | ||||
Legacy Loans | Commercial business | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | 2,194,601 | 2,017,691 | ||||
Total allowance for loan losses | 26,757 | 27,376 | 21,826 | 22,031 | 20,387 | 17,228 |
Legacy Loans | Trade finance | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | 163,463 | 194,066 | ||||
Total allowance for loan losses | 1,009 | 698 | 719 | 983 | 1,767 | 1,674 |
Legacy Loans | Consumer and other | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | 790,246 | 910,733 | ||||
Total allowance for loan losses | 6,676 | $ 7,004 | 6,269 | $ 4,799 | $ 3,934 | $ 3,385 |
Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | 127,508 | 147,253 | ||||
Total allowance for loan losses | 9,083 | 12,163 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | Acquired Loans | Real estate | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | 114,210 | 118,294 | ||||
Total allowance for loan losses | 5,121 | 5,796 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | Acquired Loans | Commercial business | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | 8,378 | 23,289 | ||||
Total allowance for loan losses | 3,037 | 5,349 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | Acquired Loans | Trade finance | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | 0 | 0 | ||||
Total allowance for loan losses | 0 | 0 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | Acquired Loans | Consumer and other | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | 4,920 | 5,670 | ||||
Total allowance for loan losses | 925 | 1,018 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | Legacy Loans | Real estate | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | 0 | 0 | ||||
Total allowance for loan losses | 0 | 0 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | Legacy Loans | Commercial business | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | 0 | 0 | ||||
Total allowance for loan losses | 0 | 0 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | Legacy Loans | Trade finance | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | 0 | 0 | ||||
Total allowance for loan losses | 0 | 0 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | Legacy Loans | Consumer and other | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans | 0 | 0 | ||||
Total allowance for loan losses | $ 0 | $ 0 |
Loans Receivable and Allowan_12
Loans Receivable and Allowance for Loan Losses - Troubled Debt Restructurings on Financing Receivables (Details) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2019USD ($)loan | Jun. 30, 2018USD ($)loan | Jun. 30, 2019USD ($)loan | Jun. 30, 2018USD ($)loan | Dec. 31, 2018USD ($)loan | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Specific reserves for the TDRs that had payment defaults | $ 85,000 | $ 33,000 | $ 119,000 | $ 33,000 | |
Charge offs | 67,000 | 51,000 | 29,000 | 51,000 | |
Specific reserves | 31,000 | 44,000 | 52,000 | 1,100,000 | |
Total charge-offs of TDR loans modified | 33,000 | $ 131,000 | 33,000 | $ 131,000 | |
Troubled debt restructured | $ 57,050,000 | $ 57,050,000 | $ 64,012,000 | ||
Number of modified contracts | loan | 19 | 14 | 34 | 23 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 2,327,000 | $ 4,302,000 | $ 5,430,000 | $ 15,262,000 | |
Post-Modification | $ 2,327,000 | $ 4,302,000 | $ 5,430,000 | $ 15,760,000 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 12 | 4 | 13 | 6 | |
Balance | $ 588,000 | $ 1,188,000 | $ 656,000 | $ 4,296,000 | |
Minimum | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Temporary modifications, period of interest only payments | 3 months | ||||
Maximum | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Temporary modifications, period of interest only payments | 6 months | ||||
Legacy Loans | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Number of modified contracts | loan | 15 | 12 | 28 | 18 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 1,207,000 | $ 2,954,000 | $ 4,177,000 | $ 9,946,000 | |
Post-Modification | $ 1,207,000 | $ 2,954,000 | $ 4,177,000 | $ 9,946,000 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 7 | 4 | 7 | 4 | |
Balance | $ 131,000 | $ 1,188,000 | $ 131,000 | $ 1,188,000 | |
Acquired Loans | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Number of modified contracts | loan | 4 | 2 | 6 | 5 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 1,120,000 | $ 1,348,000 | $ 1,253,000 | $ 5,316,000 | |
Post-Modification | $ 1,120,000 | $ 1,348,000 | $ 1,253,000 | $ 5,814,000 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 5 | 0 | 6 | 2 | |
Balance | $ 457,000 | $ 0 | $ 525,000 | $ 3,108,000 | |
Payment concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 10,659,000 | 10,659,000 | 9,065,000 | ||
Maturity / amortization concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 39,008,000 | 39,008,000 | 48,899,000 | ||
Rate concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 7,383,000 | 7,383,000 | 6,048,000 | ||
TDR on accrual | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 40,731,000 | 40,731,000 | 50,410,000 | ||
TDR on accrual | Payment concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 6,055,000 | 6,055,000 | 6,103,000 | ||
TDR on accrual | Maturity / amortization concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 27,666,000 | 27,666,000 | 38,660,000 | ||
TDR on accrual | Rate concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 7,010,000 | 7,010,000 | 5,647,000 | ||
TDR on non-accrual | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 16,319,000 | 16,319,000 | 13,602,000 | ||
TDR on non-accrual | Payment concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 4,604,000 | 4,604,000 | 2,962,000 | ||
TDR on non-accrual | Maturity / amortization concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 11,342,000 | 11,342,000 | 10,239,000 | ||
TDR on non-accrual | Rate concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | $ 373,000 | $ 373,000 | 401,000 | ||
Commercial | TDR on accrual | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | $ 24,000,000 | ||||
Number of modified contracts | loan | 15 | 20 | |||
Real estate | Legacy Loans | |||||
Financing Receivable, Troubled Debt Restructuring [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, Troubled Debt Restructuring [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, Troubled Debt Restructuring [Line Items] | |||||
Number of modified contracts | loan | 0 | 1 | 0 | 2 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 54,000 | $ 0 | $ 66,000 | |
Post-Modification | $ 0 | $ 54,000 | $ 0 | $ 66,000 | |
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, Troubled Debt Restructuring [Line Items] | |||||
Number of modified contracts | loan | 1 | 0 | 2 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 730,000 | $ 0 | $ 880,000 | $ 0 | |
Post-Modification | $ 730,000 | $ 0 | $ 880,000 | $ 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 | Gas station & car wash | |||||
Financing Receivable, Troubled Debt Restructuring [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 | Mixed use | |||||
Financing Receivable, Troubled Debt Restructuring [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, Troubled Debt Restructuring [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 1 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 2,093,000 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 2,093,000 | |
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, Troubled Debt Restructuring [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 1 | 1 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 92,000 | $ 1,231,000 | |
Post-Modification | $ 0 | $ 0 | $ 92,000 | $ 1,231,000 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 1 | 0 | 1 | 0 | |
Balance | $ 92,000 | $ 0 | $ 92,000 | $ 0 | |
Real estate | Acquired Loans | |||||
Financing Receivable, Troubled Debt Restructuring [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, Troubled Debt Restructuring [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 | $ 498,000 | |
Real estate | Acquired Loans | Retail | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Number of modified contracts | loan | 1 | 0 | 2 | 1 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 27,000 | $ 0 | $ 125,000 | $ 207,000 | |
Post-Modification | $ 27,000 | $ 0 | $ 125,000 | $ 207,000 | |
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, Troubled Debt Restructuring [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 | $ 73,000 | $ 0 | $ 73,000 | $ 0 | |
Real estate | Acquired Loans | Gas station & car wash | |||||
Financing Receivable, Troubled Debt Restructuring [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, Troubled Debt Restructuring [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 1 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 2,714,000 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 2,714,000 | |
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, Troubled Debt Restructuring [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 | $ 234,000 | $ 0 | $ 234,000 | $ 0 | |
Real estate | Acquired Loans | Other | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Number of modified contracts | loan | 2 | 0 | 2 | 1 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 961,000 | $ 0 | $ 961,000 | $ 1,047,000 | |
Post-Modification | $ 961,000 | $ 0 | $ 961,000 | $ 1,047,000 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 1 | |
Balance | $ 0 | $ 0 | $ 0 | $ 3,108,000 | |
Real estate | Payment concession | Legacy Loans | |||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 1 | ||||
Balance | $ 92,000 | ||||
Real estate | Payment concession | Acquired Loans | |||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 4 | 1 | |||
Balance | $ 218,000 | $ 3,100,000 | |||
Real estate | Commercial | TDR on accrual | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 23,137,000 | 23,137,000 | $ 24,026,000 | ||
Real estate | Commercial | TDR on accrual | Payment concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 5,034,000 | 5,034,000 | 5,142,000 | ||
Real estate | Commercial | TDR on accrual | Maturity / amortization concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 13,556,000 | 13,556,000 | 14,012,000 | ||
Real estate | Commercial | TDR on accrual | Rate concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 4,547,000 | 4,547,000 | 4,872,000 | ||
Real estate | Commercial | TDR on non-accrual | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 4,424,000 | 4,424,000 | 2,617,000 | ||
Real estate | Commercial | TDR on non-accrual | Payment concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 4,051,000 | 4,051,000 | 2,216,000 | ||
Real estate | Commercial | TDR on non-accrual | Maturity / amortization concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 0 | 0 | 0 | ||
Real estate | Commercial | TDR on non-accrual | Rate concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | $ 373,000 | $ 373,000 | 401,000 | ||
Commercial business | Legacy Loans | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Number of modified contracts | loan | 7 | 10 | 12 | 13 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 447,000 | $ 2,830,000 | $ 3,143,000 | $ 6,486,000 | |
Post-Modification | $ 447,000 | $ 2,830,000 | $ 3,143,000 | $ 6,486,000 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 4 | 0 | 4 | |
Balance | $ 0 | $ 1,188,000 | $ 0 | $ 1,188,000 | |
Commercial business | Acquired Loans | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Number of modified contracts | loan | 1 | 2 | 2 | 2 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 132,000 | $ 1,348,000 | $ 167,000 | $ 1,348,000 | |
Post-Modification | $ 132,000 | $ 1,348,000 | $ 167,000 | $ 1,348,000 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 3 | 0 | 4 | 1 | |
Balance | $ 150,000 | $ 0 | $ 218,000 | $ 0 | |
Commercial business | Payment concession | Acquired Loans | |||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 3 | ||||
Balance | $ 218,000 | ||||
Commercial business | Maturity / amortization concession | Legacy Loans | |||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 1 | 4 | |||
Balance | $ 673,000 | $ 1,200,000 | |||
Commercial business | TDR on accrual | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 14,110,000 | $ 14,110,000 | $ 18,890,000 | ||
Number of modified contracts | loan | 33 | 37 | |||
Commercial business | TDR on accrual | Payment concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 960,000 | $ 960,000 | $ 961,000 | ||
Commercial business | TDR on accrual | Maturity / amortization concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 10,791,000 | 10,791,000 | 17,257,000 | ||
Commercial business | TDR on accrual | Rate concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 2,359,000 | 2,359,000 | 672,000 | ||
Commercial business | TDR on non-accrual | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 8,990,000 | 8,990,000 | 10,912,000 | ||
Commercial business | TDR on non-accrual | Payment concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 553,000 | 553,000 | 746,000 | ||
Commercial business | TDR on non-accrual | Maturity / amortization concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 8,437,000 | 8,437,000 | 10,166,000 | ||
Commercial business | TDR on non-accrual | Rate concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | $ 0 | $ 0 | 0 | ||
Trade finance | Legacy Loans | |||||
Financing Receivable, Troubled Debt Restructuring [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 | |
Trade finance | Acquired Loans | |||||
Financing Receivable, Troubled Debt Restructuring [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 | |
Other | TDR on accrual | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 3,484,000 | 3,484,000 | 7,494,000 | ||
Other | TDR on accrual | Payment concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 61,000 | 61,000 | 0 | ||
Other | TDR on accrual | Maturity / amortization concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 3,319,000 | 3,319,000 | 7,391,000 | ||
Other | TDR on accrual | Rate concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 104,000 | 104,000 | 103,000 | ||
Other | TDR on non-accrual | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 2,905,000 | 2,905,000 | 73,000 | ||
Other | TDR on non-accrual | Payment concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 0 | 0 | 0 | ||
Other | TDR on non-accrual | Maturity / amortization concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | 2,905,000 | 2,905,000 | 73,000 | ||
Other | TDR on non-accrual | Rate concession | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | $ 0 | $ 0 | 0 | ||
Consumer and other | Legacy Loans | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Number of modified contracts | loan | 7 | 1 | 13 | 1 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 30,000 | $ 70,000 | $ 62,000 | $ 70,000 | |
Post-Modification | $ 30,000 | $ 70,000 | $ 62,000 | $ 70,000 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 6 | 0 | |||
Balance | $ 39,000 | $ 0 | |||
Consumer and other | Acquired Loans | |||||
Financing Receivable, Troubled Debt Restructuring [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 | |||
Balance | $ 0 | $ 0 | |||
Consumer and other | Payment concession | Legacy Loans | |||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 6 | ||||
Balance | $ 39,000 | ||||
Consumer and other | TDR on accrual | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Troubled debt restructured | $ 3,500,000 | $ 3,500,000 | $ 7,500,000 | ||
Number of modified contracts | loan | 14 | 6 |
Leases - Additional Information
Leases - Additional Information (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019USD ($)lease | Jun. 30, 2018USD ($) | Jun. 30, 2019USD ($)lease | Jun. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
Lessee, Lease, Description [Line Items] | |||||
Operating Lease, Payments | $ 3,709 | $ 7,372 | |||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | 1,017 | 65,263 | |||
Operating lease cost | $ 4,157 | $ 8,280 | |||
Weighted-average remaining lease term - operating leases | 6 years 1 month 28 days | 6 years 1 month 28 days | |||
Extension options, term of extension | 5 years | ||||
operating lease right-of-use assets | $ 60,064 | $ 60,064 | $ 0 | ||
operating lease liabilities | 61,214 | 61,214 | $ 0 | ||
Short term operating lease liability | 12,500 | 12,500 | |||
Long term operating lease liability | $ 48,700 | $ 48,700 | |||
Number of leases extended | lease | 7 | ||||
Lessee, Operating Lease, Number of New Leases Added | lease | 2 | ||||
Rent expense | $ 4,800 | $ 4,500 | $ 9,500 | $ 9,000 | |
Short term lease cost | 0 | 9 | |||
Variable lease cost | 833 | 1,536 | |||
Sublease Income | 156 | 313 | |||
Lease, Cost | $ 4,834 | $ 9,512 | |||
Weighted-average discount rate - operating leases | 3.21% | 3.21% | |||
Minimum | |||||
Lessee, Lease, Description [Line Items] | |||||
Weighted-average remaining lease term - operating leases | 1 year | 1 year | |||
Extension options, term of extension | 1 year | ||||
Maximum | |||||
Lessee, Lease, Description [Line Items] | |||||
Weighted-average remaining lease term - operating leases | 11 years | 11 years | |||
Extension options, term of extension | 5 years |
Leases - Net Lease Cost (Detail
Leases - Net Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | |
Leases [Abstract] | ||
Operating lease cost | $ 4,157 | $ 8,280 |
Short term lease cost | 0 | 9 |
Variable lease cost | 833 | 1,536 |
Sublease income | (156) | (313) |
Net lease cost | $ 4,834 | $ 9,512 |
Leases - Other Information (Det
Leases - Other Information (Details) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2019USD ($) | Jun. 30, 2019USD ($) | |
Cash paid for amounts included in the measurement of lease liabilities: | ||
Operating cash outflows for operating leases | $ 3,709 | $ 7,372 |
Right-of-use assets obtained in exchange for lease liabilities, net | $ 1,017 | $ 65,263 |
Weighted-average remaining lease term - operating leases | 6 years 1 month 28 days | 6 years 1 month 28 days |
Weighted-average discount rate - operating leases | 3.21% | 3.21% |
Leases - Maturities of Remainin
Leases - Maturities of Remaining Lease Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Leases [Abstract] | ||
2019 | $ 7,357 | |
2020 | 13,410 | |
2021 | 12,558 | |
2022 | 8,466 | |
2023 | 6,383 | |
2024 and thereafter | 19,760 | |
Total lease payments | 67,934 | |
Less: imputed interest | 6,720 | |
Total lease obligations | $ 61,214 | $ 0 |
Deposits (Details)
Deposits (Details) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Deposits Disclosure [Line Items] | ||
Time Deposits, $250,000 or More | $ 1,810,000,000 | $ 1,770,000,000 |
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 | 333,700,000 | 336,800,000 |
Brokered deposits | 1,480,000,000 | 1,570,000,000 |
Money market and NOW accounts | California State Treasurer | ||
Deposits Disclosure [Line Items] | ||
Brokered deposits | 266,900,000 | 370,400,000 |
Time deposits | California State Treasurer | ||
Deposits Disclosure [Line Items] | ||
Brokered deposits | $ 1,210,000,000 | $ 1,200,000,000 |
Borrowings - Narrative (Details
Borrowings - Narrative (Details) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Debt Instrument [Line Items] | ||
Percent of assets | 25.00% | |
Maximum borrowing capacity | $ 3,850,000,000 | $ 3,810,000,000 |
Percent outstanding advances | 100.00% | |
Unsecured credit facility, maximum borrowing capacity | $ 95,000,000 | 91,000,000 |
Advances from Federal Home Loan Banks | 695,000,000 | $ 821,280,000 |
Unused funds | 3,130,000,000 | |
Federal funds purchased | $ 0 | |
Percent of qualifying assets | 95.00% | |
Securities pledged as collateral | $ 0 | |
Weighted Average | ||
Debt Instrument [Line Items] | ||
FHLB advances, interest rate | 1.98% | 1.78% |
Minimum | ||
Debt Instrument [Line Items] | ||
FHLB advances, interest rate | 1.35% | |
Maximum | ||
Debt Instrument [Line Items] | ||
FHLB advances, interest rate | 2.51% | |
Mortgage Loans on Real Estate | ||
Debt Instrument [Line Items] | ||
Pledged as collateral | $ 6,940,000,000 | $ 6,010,000,000 |
Qualifying Loans | ||
Debt Instrument [Line Items] | ||
Asset balance used to determine maximum borrowing capacity from federal reserve bank | 917,100,000 | |
Securities Investment | ||
Debt Instrument [Line Items] | ||
Total available borrowing capacity | 736,300,000 | 786,600,000 |
Amount outstanding | $ 0 | 0 |
Other assets | ||
Debt Instrument [Line Items] | ||
Investment in common trust securities | $ 3,900,000 |
Borrowings - Maturities of FHLB
Borrowings - Maturities of FHLB Borrowings (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Debt Disclosure [Abstract] | ||
2019 | $ 220,000 | |
2020 | 185,000 | |
2021 | 145,000 | |
2022 | 145,000 | |
Total | $ 695,000 | $ 821,280 |
Subordinated Debentures and C_3
Subordinated Debentures and Convertible Notes - Narrative (Details) | Jun. 07, 2018USD ($)$ / shares | Apr. 26, 2018USD ($) | Jun. 30, 2019USD ($)grantor_trust | Dec. 31, 2018USD ($)shares | Jun. 30, 2018USD ($) | Jun. 30, 2019USD ($)grantor_trustshares | Sep. 30, 2018USD ($)shares | Jun. 30, 2018USD ($) | Dec. 31, 2018USD ($)shares | 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 | $ 0 | $ 212,920,000 | ||||||||
Repurchase of treasury stock | $ 50,000,000 | $ 78,961,000 | $ 100,000,000 | 78,961,000 | ||||||
Common stock repurchased and recorded as treasury stock (in shares) | shares | 3,436,757 | 0 | 5,565,696 | 9,002,453 | ||||||
Other assets | ||||||||||
Subordinated Borrowing [Line Items] | ||||||||||
Investment in common trust securities | $ 3,900,000 | $ 3,900,000 | ||||||||
Carrying Value of Debentures | ||||||||||
Subordinated Borrowing [Line Items] | ||||||||||
Unamortized Discount on Acquired Subordinated Debt | 27,400,000 | $ 28,000,000 | $ 27,400,000 | 28,000,000 | ||||||
Trust Preferred Securities Subject to Mandatory Redemption | ||||||||||
Subordinated Borrowing [Line Items] | ||||||||||
Amount of pooled trust preferred securities issued | $ 126,000,000 | $ 126,000,000 | ||||||||
Percent included in tier one capital, maximum | 25.00% | 25.00% | ||||||||
Excess of percent threshold included in tier two capital | 25.00% | 25.00% | ||||||||
Convertible Notes | ||||||||||
Subordinated Borrowing [Line Items] | ||||||||||
Aggregate principal amount issued | $ 217,500,000 | 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 | $ 24,000,000 | $ 150,000,000 | |||||||
Closing price of common stock (in dollars per share) | $ / shares | $ 18.11 | |||||||||
Amortization/ Capitalization Period | 5 years | 5 years | 5 years | |||||||
Interest expense on convertible notes | $ 2,300,000 | $ 1,200,000 | $ 4,600,000 | |||||||
Discount Rate | Convertible Notes | ||||||||||
Subordinated Borrowing [Line Items] | ||||||||||
Discount rate | 0.0425 |
Subordinated Debentures and C_4
Subordinated Debentures and Convertible Notes - Summary of Trust Preferred Securities and Debentures (Details) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 126,000,000 | |
Carrying Value of Debentures | 102,477,000 | $ 101,929,000 |
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 | $ 102,477,000 | $ 102,200,000 |
Nara Capital Trust III | ||
Subordinated Borrowing [Line Items] | ||
Current Rate | 5.56% | |
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 | 5.45% | |
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 | 5.36% | |
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 | 4.06% | |
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 | 5.45% | |
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 | $ 14,128,000 | |
Wilshire Trust II | ||
Subordinated Borrowing [Line Items] | ||
Current Rate | 4.20% | |
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 | $ 15,634,000 | |
Wilshire Trust III | ||
Subordinated Borrowing [Line Items] | ||
Current Rate | 3.81% | |
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 | $ 11,041,000 | |
Wilshire Trust IV | ||
Subordinated Borrowing [Line Items] | ||
Current Rate | 3.79% | |
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 | $ 17,899,000 | |
Saehan Capital Trust I | ||
Subordinated Borrowing [Line Items] | ||
Current Rate | 3.94% | |
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 | $ 14,907,000 |
Subordinated Debentures and C_5
Subordinated Debentures and Convertible Notes - Schedule of Convertible Debt (Details) - USD ($) $ in Thousands | Jun. 07, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Jun. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2018 |
Debt Instrument [Line Items] | ||||||||
Repurchase of treasury stock | $ 50,000 | $ 78,961 | $ 100,000 | $ 78,961 | ||||
Convertible Notes | ||||||||
Debt Instrument [Line Items] | ||||||||
Repurchase of treasury stock | $ 76,000 | $ 24,000 | $ 150,000 | |||||
Interest expense on convertible notes | $ 2,300 | $ 1,200 | $ 4,600 | |||||
Amortization/ Capitalization Period | 5 years | 5 years | 5 years | |||||
Gross Carrying Amount | ||||||||
Convertible notes principal balance | 217,500 | 217,500 | $ 217,500 | $ 217,500 | ||||
Discount | (21,880) | (21,880) | (21,880) | (21,880) | ||||
Issuance costs to be capitalized | (4,119) | (4,119) | (4,119) | (4,119) | ||||
Carrying balance of convertible notes | 191,501 | 191,501 | 191,501 | 191,501 | ||||
Accumulated Amortization / Capitalization | ||||||||
Discount | 4,580 | 2,544 | 4,580 | 2,544 | ||||
Issuance costs to be capitalized | 896 | 498 | 896 | 498 | ||||
Carrying balance of convertible notes | 5,476 | 3,042 | 5,476 | 3,042 | ||||
Carrying Amount | ||||||||
Convertible notes principal balance | 217,500 | 217,500 | 217,500 | 217,500 | ||||
Discount | (17,300) | (19,336) | (17,300) | (19,336) | ||||
Issuance costs to be capitalized | (3,223) | (3,621) | (3,223) | (3,621) | ||||
Carrying balance of convertible notes | $ 196,977 | $ 194,543 | $ 196,977 | $ 194,543 |
Derivative Financial Instrume_3
Derivative Financial Instruments (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Interest rate lock commitments | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional amount | $ 23,500 | $ 874 |
Other liabilities | Not Designated as Hedging Instrument | Correspondent Banks | Interest rate swaps | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Weighted average remaining term (years) | 7 years | 6 years 4 months 24 days |
Estimated fair value | $ (8,414) | $ (868) |
Notional amount | $ 221,900 | $ 36,972 |
Derivative, Average Fixed Interest Rate | 4.65% | 5.12% |
Derivative, Average Variable Interest Rate | 4.77% | 4.56% |
Other liabilities | Not Designated as Hedging Instrument | Customers | Interest rate swaps | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Weighted average remaining term (years) | 4 years 7 months 6 days | 6 years 9 months 18 days |
Estimated fair value | $ (646) | $ (6,191) |
Notional amount | $ 71,201 | $ 237,916 |
Derivative, Average Fixed Interest Rate | 3.96% | 4.36% |
Derivative, Average Variable Interest Rate | 4.97% | 4.69% |
Other assets | Not Designated as Hedging Instrument | Correspondent Banks | Interest rate swaps | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Weighted average remaining term (years) | 4 years 7 months 6 days | 6 years 9 months 18 days |
Estimated fair value | $ 646 | $ 6,191 |
Notional amount | $ 71,201 | $ 237,916 |
Derivative, Average Fixed Interest Rate | 3.96% | 4.36% |
Derivative, Average Variable Interest Rate | 4.97% | 4.69% |
Other assets | Not Designated as Hedging Instrument | Customers | Interest rate swaps | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Weighted average remaining term (years) | 7 years | 6 years 4 months 24 days |
Estimated fair value | $ 8,414 | $ 868 |
Notional amount | $ 221,900 | $ 36,972 |
Derivative, Average Fixed Interest Rate | 4.77% | 4.56% |
Derivative, Average Variable Interest Rate | 4.65% | 5.12% |
Derivative Financial Instrume_4
Derivative Financial Instruments - Summary of Derivative Notional Amounts and Fair Values (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Interest rate lock commitments | ||
Derivative [Line Items] | ||
Notional amount, derivative asset | $ 16,710 | $ 874 |
Fair value, derivative asset | 142 | 10 |
Notional amount, derivative liability | 6,805 | 0 |
Fair value, derivative liability | 38 | 0 |
Forward sale contracts related to mortgage banking | Short | ||
Derivative [Line Items] | ||
Notional amount, derivative asset | 8,397 | 0 |
Fair value, derivative asset | 23 | 0 |
Notional amount, derivative liability | 15,118 | 874 |
Fair value, derivative liability | $ 58 | $ 3 |
Commitments and contingencies_2
Commitments and contingencies (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Supply Commitment [Line Items] | ||
Loss contingencies for all legal claims | $ 170 | $ 755 |
Interest rate lock commitments | ||
Supply Commitment [Line Items] | ||
Notional amount | 23,500 | 874 |
Commitments to extend credit | ||
Supply Commitment [Line Items] | ||
Commitments and letters of credit | 1,655,373 | 1,712,032 |
Standby letters of credit | ||
Supply Commitment [Line Items] | ||
Commitments and letters of credit | 85,052 | 69,763 |
Other letters of credit | ||
Supply Commitment [Line Items] | ||
Commitments and letters of credit | 61,792 | 65,822 |
Commitments to fund investments in affordable housing partnerships | ||
Supply Commitment [Line Items] | ||
Commitments and letters of credit | $ 34,217 | $ 46,507 |
Goodwill, Intangible Assets, _3
Goodwill, Intangible Assets, and Servicing Assets - Intangible Assets (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | |
Finite-Lived Intangible Assets [Line Items] | ||||
Goodwill | $ 464,450,000 | $ 464,450,000 | $ 464,450,000 | |
Goodwill impairment | 0 | 0 | ||
Gross Amount | 25,605,000 | 25,605,000 | ||
Accumulated Amortization | (12,658,000) | (12,658,000) | (11,544,000) | |
Carrying Amount | 12,947,000 | $ 12,947,000 | 14,061,000 | |
Core Deposits | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization expense related to core deposit intangible assets | 557,000 | $ 615,000 | ||
Center Financial acquisition | Core Deposits | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization Period | 7 years | |||
Gross Amount | 4,100,000 | $ 4,100,000 | ||
Accumulated Amortization | (4,100,000) | (4,100,000) | (4,100,000) | |
Carrying Amount | 0 | $ 0 | 0 | |
Pacific International Bank acquisition | Core Deposits | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization Period | 7 years | |||
Gross Amount | 604,000 | $ 604,000 | ||
Accumulated Amortization | (590,000) | (590,000) | (579,000) | |
Carrying Amount | 14,000 | $ 14,000 | 25,000 | |
Foster Bankshares acquisition | Core Deposits | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization Period | 10 years | |||
Gross Amount | 2,763,000 | $ 2,763,000 | ||
Accumulated Amortization | (2,007,000) | (2,007,000) | (1,893,000) | |
Carrying Amount | 756,000 | $ 756,000 | 870,000 | |
Wilshire Bancorp acquisition | Core Deposits | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization Period | 10 years | |||
Gross Amount | 18,138,000 | $ 18,138,000 | ||
Accumulated Amortization | (5,961,000) | (5,961,000) | (4,972,000) | |
Carrying Amount | $ 12,177,000 | $ 12,177,000 | $ 13,166,000 | |
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 | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Balance at beginning of period | $ 21,407 | $ 24,866 | $ 23,132 | $ 24,710 | $ 24,710 |
Additions through originations of servicing assets | 619 | 1,600 | 946 | 3,316 | |
Amortization | (2,029) | (2,086) | (4,081) | (3,646) | |
Adjustments | 0 | 670 | 0 | 670 | |
Balance at end of period | 19,997 | $ 25,050 | 19,997 | $ 25,050 | 23,132 |
Principal balances of loans serviced for other institutions | $ 1,560,000 | $ 1,560,000 | $ 1,550,000 | ||
SBA Servicing Assets: Weighted-average discount rate | 10.98% | 11.23% | |||
SBA Servicing Assets: Constant prepayment rate | 13.40% | 11.09% | |||
Mortgage Servicing Assets: Weighted-average discount rate | 9.25% | 10.25% | |||
Mortgage Servicing Assets: Constant prepayment rate | 9.86% | 7.13% |
Income Taxes Narrative (Details
Income Taxes Narrative (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||||
Income tax provision | $ 14,256,000 | $ 16,629,000 | $ 28,695,000 | $ 34,362,000 | |
Pretax income | $ 56,937,000 | $ 64,159,000 | $ 114,134,000 | $ 133,124,000 | |
Effective income tax rate | 25.04% | 25.92% | 25.14% | 25.81% | |
Unrecognized tax benefits | $ 2,300,000 | $ 2,300,000 | $ 2,300,000 | ||
Interest accrued | 520,000 | 520,000 | 470,000 | ||
Penalties accrued | 0 | 0 | $ 0 | ||
Decrease in unrecognized tax benefits is reasonably possible | $ 2,300,000 | $ 2,300,000 |
Fair Value Measurements - Asset
Fair Value Measurements - Assets and Liabilities Measured at Fair Value, Recurring (Details) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) | |
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 | $ 1,826,903 | $ 1,846,265 |
Equity investments with readily determinable fair value | 48,750 | 49,835 |
Mortgage banking derivatives | 165 | |
Collateralized mortgage obligations | ||
Assets: | ||
Securities available for sale, at fair value | 844,899 | 895,122 |
Residential | ||
Assets: | ||
Securities available for sale, at fair value | 367,176 | 402,605 |
Commercial | ||
Assets: | ||
Securities available for sale, at fair value | 540,931 | 469,126 |
Corporate securities | ||
Assets: | ||
Securities available for sale, at fair value | 3,880 | 3,826 |
Municipal securities | ||
Assets: | ||
Securities available for sale, at fair value | 70,017 | 75,586 |
Recurring basis | Collateralized mortgage obligations | ||
Assets: | ||
Securities available for sale, at fair value | 844,899 | 895,122 |
Recurring basis | Residential | ||
Assets: | ||
Securities available for sale, at fair value | 367,176 | 402,605 |
Recurring basis | Commercial | ||
Assets: | ||
Securities available for sale, at fair value | 540,931 | 469,126 |
Recurring basis | Corporate securities | ||
Assets: | ||
Securities available for sale, at fair value | 3,880 | 3,826 |
Recurring basis | Municipal securities | ||
Assets: | ||
Securities available for sale, at fair value | 70,017 | 75,586 |
Recurring basis | Equity investments | ||
Assets: | ||
Equity investments with readily determinable fair value | 22,061 | |
Recurring basis | Equity investments with readily determinable fair value | ||
Assets: | ||
Securities available for sale, at fair value | 23,405 | |
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 | 22,061 | |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Equity investments with readily determinable fair value | ||
Assets: | ||
Securities available for sale, at fair value | 23,405 | |
Recurring basis | Significant Other Observable Inputs (Level 2) | ||
Assets: | ||
Interest rate swaps | 9,060 | 7,059 |
Mortgage banking derivatives | 165 | 10 |
Liabilities: | ||
Interest rate swaps | 9,060 | 7,059 |
Mortgage banking derivatives | 96 | 3 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Collateralized mortgage obligations | ||
Assets: | ||
Securities available for sale, at fair value | 844,899 | 895,122 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Residential | ||
Assets: | ||
Securities available for sale, at fair value | 367,176 | 402,605 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Commercial | ||
Assets: | ||
Securities available for sale, at fair value | 540,931 | 469,126 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Corporate securities | ||
Assets: | ||
Securities available for sale, at fair value | 3,880 | 3,826 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Municipal securities | ||
Assets: | ||
Securities available for sale, at fair value | 68,930 | 74,527 |
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) | Equity investments with readily determinable fair value | ||
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 | 1,087 | 1,059 |
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) | Equity investments with readily determinable fair value | ||
Assets: | ||
Securities available for sale, at fair value | 0 | |
Recurring basis | Estimated Fair Value | ||
Assets: | ||
Interest rate swaps | 9,060 | 7,059 |
Mortgage banking derivatives | 10 | |
Liabilities: | ||
Interest rate swaps | 9,060 | 7,059 |
Mortgage banking derivatives | $ 96 | $ 3 |
Discount Rate | Accounts Receivable | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 0.20 | |
Discount Rate | Accounts Receivable | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 0.60 | |
Discount Rate | Inventories | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 0.50 | |
Discount Rate | Inventories | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Discount rate | 0.70 |
Fair Value Measurements - Rollf
Fair Value Measurements - Rollforward of Level 3 Assets (Details) - Municipal securities - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | $ 1,068 | $ 1,079 | $ 1,059 | $ 1,108 |
Change in fair value included in other comprehensive income (loss) | 19 | (14) | 28 | (43) |
Ending Balance | $ 1,087 | $ 1,065 | $ 1,087 | $ 1,065 |
Fair Value Measurements - Ass_2
Fair Value Measurements - Assets Measured at Fair Value, Non-Recurring (Details) - Non-recurring basis - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Real estate loans | ||
Assets: | ||
Assets | $ 9,014 | $ 9,379 |
Commercial business | ||
Assets: | ||
Assets | 13,511 | 9,951 |
Trade finance | ||
Assets: | ||
Assets | 2,721 | |
Consumer | ||
Assets: | ||
Assets | 66 | |
OREO | ||
Assets: | ||
Assets | 4,497 | 5,659 |
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) | Trade finance | ||
Assets: | ||
Assets | 0 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Consumer | ||
Assets: | ||
Assets | 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) | Trade finance | ||
Assets: | ||
Assets | 0 | |
Significant Other Observable Inputs (Level 2) | Consumer | ||
Assets: | ||
Assets | 0 | |
Significant Other Observable Inputs (Level 2) | OREO | ||
Assets: | ||
Assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Real estate loans | ||
Assets: | ||
Assets | 9,014 | 9,379 |
Significant Unobservable Inputs (Level 3) | Commercial business | ||
Assets: | ||
Assets | 13,511 | 9,951 |
Significant Unobservable Inputs (Level 3) | Trade finance | ||
Assets: | ||
Assets | 2,721 | |
Significant Unobservable Inputs (Level 3) | Consumer | ||
Assets: | ||
Assets | 66 | |
Significant Unobservable Inputs (Level 3) | OREO | ||
Assets: | ||
Assets | $ 4,497 | $ 5,659 |
Fair Value Measurements - Total
Fair Value Measurements - Total Net Gains Losses on Assets Measured at Fair Value on a Non-Recurring Basis (Details) - Non-recurring basis - Change during period - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Real estate | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total gains (losses), fair value | $ 525 | $ 966 | $ 1,573 | $ (4,606) |
Commercial business | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total gains (losses), fair value | (336) | 1,513 | (3,567) | 614 |
Trade finance | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total gains (losses), fair value | (333) | (240) | (333) | (225) |
Consumer | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total gains (losses), fair value | (343) | 448 | (628) | (763) |
OREO | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total gains (losses), fair value | $ 77 | $ 192 | $ 139 | $ 264 |
Fair Value Measurements - Carry
Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Financial Assets: | ||
Equity investments without readily determinable fair values | $ 26,700 | $ 26,400 |
Level 1 | Carrying Amount | ||
Financial Assets: | ||
Cash and cash equivalents | 609,795 | 459,606 |
Financial Liabilities: | ||
Convertible notes, net | 196,977 | |
Level 1 | Estimated Fair Value | ||
Financial Assets: | ||
Cash and cash equivalents | 609,795 | 459,606 |
Financial Liabilities: | ||
Convertible notes, net | 199,030 | |
Level 2/3 | Carrying Amount | ||
Financial Assets: | ||
Accrued interest receivable | 33,980 | 32,225 |
Level 2/3 | Carrying Amount | Other investments | ||
Financial Assets: | ||
Interest bearing deposits in other financial institutions | 30,632 | 29,409 |
Level 2/3 | Estimated Fair Value | ||
Financial Assets: | ||
Accrued interest receivable | 33,980 | 32,225 |
Level 2/3 | Estimated Fair Value | Other investments | ||
Financial Assets: | ||
Interest bearing deposits in other financial institutions | 30,714 | 29,374 |
Level 2 | Carrying Amount | ||
Financial Assets: | ||
Equity investments without readily determinable fair values | 26,689 | 26,430 |
Loans held for sale | 6,426 | 25,128 |
Customers’ liabilities on acceptances | 1,696 | 2,281 |
Financial Liabilities: | ||
Noninterest bearing deposits | 3,009,218 | 3,022,633 |
Saving and other interest bearing demand deposits | 3,482,806 | 3,262,399 |
Time deposits | 5,680,360 | 5,870,624 |
FHLB advances | 695,000 | 821,280 |
Convertible debt | 194,543 | |
Subordinated debentures | 102,477 | 101,929 |
Accrued interest payable | 36,987 | 31,374 |
Acceptances outstanding | 1,696 | 2,281 |
Level 2 | Estimated Fair Value | ||
Financial Assets: | ||
Equity investments without readily determinable fair values | 26,689 | 26,430 |
Loans held for sale | 6,516 | 25,943 |
Customers’ liabilities on acceptances | 1,696 | 2,281 |
Financial Liabilities: | ||
Noninterest bearing deposits | 3,009,218 | 3,022,633 |
Saving and other interest bearing demand deposits | 3,482,806 | 3,262,399 |
Time deposits | 5,707,901 | 5,889,030 |
FHLB advances | 697,013 | 810,812 |
Convertible debt | 180,525 | |
Subordinated debentures | 117,726 | 116,542 |
Accrued interest payable | 36,987 | 31,374 |
Acceptances outstanding | 1,696 | 2,281 |
Level 3 | Carrying Amount | ||
Financial Assets: | ||
Loans receivable—net | 11,883,068 | 12,005,558 |
Servicing assets, net | 19,997 | 23,132 |
Level 3 | Estimated Fair Value | ||
Financial Assets: | ||
Loans receivable—net | 11,756,995 | 11,913,906 |
Servicing assets, net | $ 21,693 | $ 24,762 |
Stockholders' Equity - Discussi
Stockholders' Equity - Discussion of Equity and Warrants (Details) - USD ($) | Jun. 07, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Jun. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2018 | Jun. 21, 2019 | Mar. 31, 2019 | Sep. 20, 2018 | Apr. 26, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Equity [Abstract] | ||||||||||||||
Total stockholders’ equity | $ 1,995,172,000 | $ 1,903,211,000 | $ 1,905,676,000 | $ 1,995,172,000 | $ 1,905,676,000 | $ 1,903,211,000 | $ 1,946,211,000 | $ 1,945,333,000 | $ 1,928,255,000 | |||||
Class of Warrant or Right [Line Items] | ||||||||||||||
Share repurchase program, authorized amount | $ 50,000,000 | $ 50,000,000 | $ 100,000,000 | |||||||||||
Common stock repurchased and recorded as treasury stock (in shares) | 3,436,757 | 0 | 5,565,696 | 9,002,453 | ||||||||||
Repurchase of treasury stock | $ 50,000,000 | $ 78,961,000 | $ 100,000,000 | $ 78,961,000 | ||||||||||
Dividends paid (in dollars per share) | $ 0.14 | $ 0.13 | $ 0.28 | $ 0.26 | ||||||||||
Convertible Notes | ||||||||||||||
Class of Warrant or Right [Line Items] | ||||||||||||||
Equity component of convertible notes | $ 21,900,000 | $ 21,900,000 | ||||||||||||
Issuance costs from convertible notes allocated to equity | 461,000 | 461,000 | ||||||||||||
Repurchase of treasury stock | $ 76,000,000 | $ 24,000,000 | $ 150,000,000 | |||||||||||
Additional paid-in capital | ||||||||||||||
Equity [Abstract] | ||||||||||||||
Total stockholders’ equity | $ 1,425,262,000 | $ 1,423,405,000 | 1,421,679,000 | $ 1,425,262,000 | $ 1,421,679,000 | $ 1,423,405,000 | $ 1,424,029,000 | $ 1,405,806,000 | $ 1,405,014,000 | |||||
Class of Warrant or Right [Line Items] | ||||||||||||||
Equity component of convertible notes after issuance costs | 21,400,000 | |||||||||||||
Convertible debt tax adjustment, reduction to additional paid-in capital | $ 6,400,000 |
Stockholders' Equity - Changes
Stockholders' Equity - Changes in Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Equity [Abstract] | ||||||
Balance at beginning of period | $ (15,358,000) | $ (38,640,000) | $ (32,705,000) | $ (21,781,000) | ||
Unrealized gain (loss) on securities available for sale | 32,523,000 | (9,249,000) | 57,189,000 | (33,898,000) | ||
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent | (129,000) | 0 | (129,000) | 0 | ||
Tax effect | (9,613,000) | 2,767,000 | (16,932,000) | 10,276,000 | ||
Total other comprehensive income (loss) | 22,781,000 | (6,482,000) | 40,128,000 | (23,622,000) | ||
Reclassification to retained earnings per ASU 2016-01 | 0 | 0 | 0 | 281,000 | ||
Balance at end of period | 7,423,000 | (45,122,000) | 7,423,000 | (45,122,000) | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||||
Reclassification adjustments for net gains realized in net income | 129,000 | 0 | 129,000 | 0 | ||
Reclassification of unrealized losses on equity investments to retained earnings - ASU 2016-01 | $ (188,000) | |||||
Other reclassifications out of accumulated other comprehensive (loss) income | 0 | 0 | 0 | 0 | ||
Accumulated other comprehensive (loss) income, net | ||||||
Equity [Abstract] | ||||||
Total other comprehensive income (loss) | $ 22,781,000 | $ (6,482,000) | $ 40,128,000 | $ (23,622,000) | ||
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 | $ 281,000 |
Regulatory Matters (Details)
Regulatory Matters (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Company | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common Equity Tier One Capital | $ 1,512,921 | $ 1,458,344 |
Common Equity Tier One Capital Ratio | 11.90% | 11.44% |
Total capital (to risk-weighted assets), Amount | ||
Total Capital, Actual | $ 1,706,299 | $ 1,649,664 |
Total Capital, Required For Capital Adequacy Purposes | 1,017,255 | 1,019,952 |
Required for Capital Adequacy with Capital Buffer | 1,335,147 | 1,259,004 |
Tier I capital (to risk-weighted assets), Amount | ||
Tier I Capital, Actual (Risk Based) | 1,611,497 | 1,556,371 |
Tier I Capital, Required For Capital Adequacy Purposes | 762,941 | 764,964 |
Tier 1 Capital, Required for Capital Adequacy with Capital Buffer | 1,080,833 | 1,004,015 |
Tier I capital (to average assets), Amount | ||
Tier I Capital, Actual (Leverage) | 1,611,497 | 1,556,371 |
Tier I Capital, Required For Capital Adequacy Purposes | $ 589,066 | $ 590,176 |
Total capital and Tier I capital (to risk-weighted assets), Ratio | ||
Total Capital (to Risk Weighted Assets), Actual | 13.42% | 12.94% |
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 | 10.50% | 9.875% |
Tier I Capital (to Risk Weighted Assets), Actual (Risk Based) | 12.67% | 12.21% |
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 | 8.50% | 7.875% |
Tier I capital (to average assets), Ratio | ||
Tier I Capital (to Average Assets), Actual (Leverage) | 10.94% | 10.55% |
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 | $ 1,784,216 | $ 1,737,092 |
Common Equity Tier One Capital Ratio | 14.03% | 13.63% |
Total capital (to risk-weighted assets), Amount | ||
Total Capital, Actual | $ 1,879,018 | $ 1,830,385 |
Total Capital, Required For Capital Adequacy Purposes | 1,017,134 | 1,019,910 |
Required for Capital Adequacy with Capital Buffer | 1,334,988 | 1,258,951 |
Required To Be Well Capitalized under Prompt Corrective Action Provisions | 1,271,417 | 1,274,887 |
Tier I capital (to risk-weighted assets), Amount | ||
Tier I Capital, Actual (Risk Based) | 1,784,216 | 1,737,092 |
Tier I Capital, Required For Capital Adequacy Purposes | 762,850 | 764,932 |
Tier 1 Capital, Required for Capital Adequacy with Capital Buffer | 889,992 | 812,740 |
Tier I Capital, Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Risk Based) | 1,017,134 | 1,019,910 |
Tier I capital (to average assets), Amount | ||
Tier I Capital, Actual (Leverage) | 1,784,216 | 1,737,092 |
Tier I Capital, Required For Capital Adequacy Purposes | 589,225 | 590,639 |
Tier I Capital, Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Leverage) | $ 736,532 | $ 738,299 |
Total capital and Tier I capital (to risk-weighted assets), Ratio | ||
Total Capital (to Risk Weighted Assets), Actual | 14.78% | 14.36% |
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 | 10.50% | 9.875% |
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) | 14.03% | 13.63% |
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 | 8.50% | 7.875% |
Common Equity Tier One Capital Required to be Well-Capitalized | $ 826,421 | $ 828,677 |
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) | 12.11% | 11.76% |
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 | $ 572,206 | $ 573,723 |
Tier 1 Capital, Required for Capital Adequacy with Capital Buffer | $ 890,098 | $ 812,774 |
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 | 7.00% | 6.375% |
Common Equity Tier 1 | Bank | ||
Tier I capital (to risk-weighted assets), Amount | ||
Tier I Capital, Required For Capital Adequacy Purposes | $ 572,138 | $ 573,669 |
Tier 1 Capital, Required for Capital Adequacy with Capital Buffer | $ 889,992 | $ 812,740 |
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 | 7.00% | 6.375% |
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 | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Disaggregation of Revenue [Line Items] | ||||
Service fees on deposit accounts | $ 4,416 | $ 4,613 | $ 8,733 | $ 9,414 |
Wire transfer fees | 1,311 | 1,250 | 2,400 | 2,457 |
Wire transfer fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Wire transfer fees | 1,166 | 1,149 | 2,100 | 2,229 |
Foreign exchange fees | ||||
Disaggregation of Revenue [Line Items] | ||||
Wire transfer fees | 145 | 101 | 300 | 228 |
Noninterest Bearing Deposits | ||||
Disaggregation of Revenue [Line Items] | ||||
Service fees on deposit accounts | 4,400 | 4,598 | 8,701 | 9,385 |
Noninterest Bearing Deposits | Monthly service charges | ||||
Disaggregation of Revenue [Line Items] | ||||
Service fees on deposit accounts | 406 | 446 | 829 | 885 |
Noninterest Bearing Deposits | Customer analysis charges | ||||
Disaggregation of Revenue [Line Items] | ||||
Service fees on deposit accounts | 1,871 | 2,036 | 3,594 | 4,060 |
Noninterest Bearing Deposits | NSF charges | ||||
Disaggregation of Revenue [Line Items] | ||||
Service fees on deposit accounts | 1,926 | 1,895 | 3,868 | 3,986 |
Noninterest Bearing Deposits | Other service charges | ||||
Disaggregation of Revenue [Line Items] | ||||
Service fees on deposit accounts | 197 | 221 | 410 | 454 |
Interest-bearing Deposits | Monthly service charges | ||||
Disaggregation of Revenue [Line Items] | ||||
Service fees on deposit accounts | $ 16 | $ 15 | $ 32 | $ 29 |
Revenue Recognition - OREO Inco
Revenue Recognition - OREO Income (Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Revenue from Contract with Customer [Abstract] | ||||
Gains (losses) on sales of OREO | $ (16) | $ 79 | $ (13) | $ 151 |