Central Pacific Financial (CPF) 10-K 25 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Feb. 11, 2016	Jun. 30, 2015
Document and Entity Information
Entity Registrant Name	CENTRAL PACIFIC FINANCIAL CORP
Entity Central Index Key	701,347
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		31,325,752
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Public Float			$ 722,991

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets
Cash and due from banks	$ 71,797	$ 72,316
Interest-bearing deposits in other banks	8,397	13,691
Investment securities:
Available for sale, at fair value	1,272,255	1,229,018
Held to maturity, at amortized cost (fair value of $244,136 at December 31, 2015 and $235,597 at December 31, 2014)	247,917	238,287
Total investment securities	1,520,172	1,467,305
Loans held for sale	14,109	9,683
Loans and leases	3,211,532	2,932,198
Allowance for loan and lease losses	(63,314)	(74,040)
Net loans and leases	3,148,218	2,858,158
Premises and equipment, net	49,161	49,214
Accrued interest receivable	14,898	13,584
Investment in unconsolidated subsidiaries	6,157	7,246
Other real estate	1,962	2,948
Mortgage servicing rights	17,797	19,668
Other intangible assets	7,355	10,029
Bank-owned life insurance	153,967	152,283
Federal Home Loan Bank stock	8,606	43,932
Other assets	108,692	132,930
Total assets	5,131,288	4,852,987
Deposits:
Noninterest-bearing demand	1,145,244	1,034,146
Interest-bearing demand	824,895	788,272
Savings and money market	1,399,093	1,242,598
Time	1,064,207	1,045,284
Total deposits	4,433,439	4,110,300
Short-term borrowings	69,000	38,000
Long-term debt	92,785	92,785
Other liabilities	41,425	43,861
Total liabilities	$ 4,636,649	$ 4,284,946
Equity:
Preferred stock, no par value, authorized 1,100,000 shares, issued and outstanding none at December 31, 2015 and 2014
Common stock, no par value, authorized 185,000,000 shares, issued and outstanding 31,361,452 and 35,233,674 shares at December 31, 2015 and 2014, respectively	$ 548,878	$ 642,205
Surplus	82,847	79,716
Accumulated deficit	(137,314)	(157,039)
Accumulated other comprehensive income	203	3,159
Total shareholders’ equity	494,614	568,041
Non-controlling interest	25	0
Total equity	494,639	568,041
Total liabilities and equity	$ 5,131,288	$ 4,852,987

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Held to maturity, fair value	$ 244,136	$ 235,597
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, authorized shares	1,100,000	1,100,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, authorized shares	185,000,000	185,000,000
Common stock, issued shares	31,361,452	35,233,674
Common stock, outstanding shares	31,361,452	35,233,674

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Interest income:
Interest and fees on loans and leases	$ 118,887	$ 112,137	$ 104,479
Interest and dividends on investment securities:
Taxable interest	32,969	33,574	31,498
Tax-exempt interest	4,022	3,996	4,051
Dividends	36	23	23
Interest on deposits in other banks	35	33	203
Dividends on Federal Home Loan Bank stock	86	46	24
Total interest income	156,035	149,809	140,278
Interest on deposits:
Demand	399	373	349
Savings and money market	916	901	894
Time	2,312	2,453	2,801
Interest on short-term borrowings	254	92	6
Interest on long-term debt	2,626	2,572	3,119
Total interest expense	6,507	6,391	7,169
Net interest income	149,528	143,418	133,109
Provision (credit) for loan and lease losses	(15,671)	(6,414)	(11,310)
Net interest income after provision for loan and lease losses	165,199	149,832	144,419
Other operating income:
Other service charges and fees	11,461	11,754	12,490
Service charges on deposit accounts	7,829	8,113	7,041
Loan servicing fees	5,656	5,798	6,057
Net gain on sales of residential loans	6,107	5,545	9,986
Income from fiduciary activities	3,343	3,552	2,855
Income from bank-owned life insurance	2,034	2,922	2,333
Net gain on sales of foreclosed assets	568	971	8,584
Equity in earnings of unconsolidated subsidiaries	578	480	790
Fees on foreign exchange	450	464	508
Loan placement fees	720	437	570
Investment securities gains (losses)	(1,866)	240	482
Other	2,104	3,547	3,249
Total other operating income	38,984	43,823	54,945
Other operating expense:
Salaries and employee benefits	66,429	67,941	76,294
Net occupancy	14,432	15,252	14,323
Legal and professional services	7,340	7,806	8,094
Computer software expense	8,831	6,327	4,579
Amortization and impairment of other intangible assets	6,859	5,332	7,418
Communication expense	3,483	3,635	3,523
Equipment	3,475	3,582	3,676
Advertising expense	2,550	2,342	2,666
Foreclosed asset expense	486	1,710	1,036
Other	17,342	18,886	17,927
Total other operating expense	131,227	132,813	139,536
Income before income taxes	72,956	60,842	59,828
Income tax expense (benefit)	27,088	20,389	(112,247)
Net income	$ 45,868	$ 40,453	$ 172,075
Per common share data:
Basic earnings per share (in dollars per share)	$ 1.42	$ 1.08	$ 4.10
Diluted earnings per share (in dollars per share)	1.40	1.07	4.07
Cash dividends declared (in dollars per share)	$ 0.82	$ 0.36	$ 0.16

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income	$ 45,868	$ 40,453	$ 172,075
Other comprehensive income (loss), net of tax
Net change in unrealized gain (loss) on investment securities	(4,405)	22,711	(31,865)
Net change in unrealized gain on derivatives	0	0	10,993
Minimum pension liability adjustment	1,449	(3,707)	5,857
Other comprehensive income (loss), net of tax	(2,956)	19,004	(15,015)
Comprehensive income	$ 42,912	$ 59,457	$ 157,060

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Common shares outstanding	Common Stock	Surplus	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Non-Controlling Interests
Balance at Dec. 31, 2012	$ 514,779		$ 784,512	$ 70,567	$ (349,427)	$ (830)	$ 9,957
Balance (in shares) at Dec. 31, 2012		41,867,046
Increase (Decrease) in Shareholders' Equity
Net income	172,075				172,075
Other comprehensive income (loss)	(15,015)					(15,015)
Cash dividends	(6,735)				(6,735)
Common stock purchased by directors' deferred compensation plan	(39)		(39)
Share-based compensation	5,005		74	4,931
Share-based compensation (in shares)		240,587
Non-controlling interests	(9,896)						(9,896)
Balance at Dec. 31, 2013	660,174		784,547	75,498	(184,087)	(15,845)	61
Balance (in shares) at Dec. 31, 2013		42,107,633
Increase (Decrease) in Shareholders' Equity
Net income	40,453				40,453
Other comprehensive income (loss)	19,004					19,004
Cash dividends	(13,405)				(13,405)
Common stock purchased by directors' deferred compensation plan	(11)		(11)
Common stock repurchased and other related costs	$ (142,405)		(142,405)
Common stock repurchased and other related costs (in shares)	(7,045,620)	(7,045,620)
Share-based compensation	$ 4,292		74	4,218
Share-based compensation (in shares)		171,661
Non-controlling interests	(61)						(61)
Balance at Dec. 31, 2014	$ 568,041		642,205	79,716	(157,039)	3,159	0
Balance (in shares) at Dec. 31, 2014	35,233,674	35,233,674
Increase (Decrease) in Shareholders' Equity
Net income	$ 45,868				45,868
Other comprehensive income (loss)	(2,956)					(2,956)
Cash dividends	(26,143)				(26,143)
Common stock purchased by directors' deferred compensation plan	(154)		(154)
Common stock repurchased and other related costs	$ (93,533)		(93,533)
Common stock repurchased and other related costs (in shares)	(4,122,881)	(4,122,881)
Share-based compensation	$ 3,491		360	3,131
Share-based compensation (in shares)		250,659
Non-controlling interests	25						25
Balance at Dec. 31, 2015	$ 494,639		$ 548,878	$ 82,847	$ (137,314)	$ 203	$ 25
Balance (in shares) at Dec. 31, 2015	31,361,452	31,361,452

CONSOLIDATED STATEMENTS OF CHA7

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Stockholders' Equity [Abstract]
Common stock purchased by directors' deferred compensation plan (in shares)	8,159	1,118	1,782
Cash dividends (in dollars per share)	$ 0.82	$ 0.36	$ 0.16
Shares of common stock repurchased (in shares)	4,122,881	7,045,620

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net income	$ 45,868	$ 40,453	$ 172,075
Adjustments to reconcile net income to net cash provided by operating activities:
Provision (credit) for loan and lease losses	(15,671)	(6,414)	(11,310)
Depreciation and amortization	5,870	5,842	6,007
Amortization and impairment of other intangible assets	6,859	5,332	7,418
Write down of other real estate, net of gain on sale	198	1,133	(8,011)
Net amortization of investment securities	10,246	7,807	13,283
Share-based compensation	3,131	4,218	4,931
Net (gain) loss on sale of investment securities	1,866	(240)	(482)
Net gain on sales of residential loans	(6,107)	(5,545)	(9,986)
Proceeds from sales of loans held for sale	379,318	373,061	654,005
Originations of loans held for sale	(377,638)	(364,828)	(618,106)
Equity in earnings of unconsolidated subsidiaries	(578)	(480)	(790)
Increase in cash surrender value of bank-owned life insurance	(2,407)	(3,161)	(2,729)
Deferred income taxes	26,079	20,482	(112,138)
Premium paid on repurchases of preferred stock of subsidiaries	0	0	1,895
Net change in other assets and liabilities	(2,529)	(6,228)	(11,531)
Net cash provided by operating activities	74,505	71,432	84,531
Cash flows from investing activities:
Proceeds from maturities of and calls on investment securities available for sale	165,492	145,592	448,453
Proceeds from sales of investment securities available for sale	117,496	162,470	271,931
Purchases of investment securities available for sale	(344,766)	(98,408)	(753,496)
Proceeds from maturities of and calls on investment securities held to maturity	26,524	15,814	13,500
Purchases of investment securities held to maturity	(37,043)	(2,443)	(4,595)
Net loan originations	(218,195)	(245,099)	(357,853)
Purchases of loan portfolios	(68,754)	(62,648)	(85,110)
Proceeds from sales of loans originated for investment	6,658	0	10,679
Proceeds from sales of other real estate	6,691	3,865	17,892
Proceeds from bank-owned life insurance	723	481	536
Purchases of premises and equipment	(5,817)	(6,017)	(6,287)
Distributions from unconsolidated subsidiaries	524	531	9,615
Net return of capital from (contributions to) unconsolidated subsidiaries	0	466	(9,050)
Proceeds from redemption of FHLB stock	35,326	2,261	1,735
Net cash used in investing activities	(315,141)	(83,135)	(442,050)
Cash flows from financing activities:
Net increase in deposits	323,139	174,127	255,401
Repayments of long-term debt	0	(14)	(15,482)
Net increase in short-term borrowings	31,000	29,985	8,015
Cash dividends paid on common stock	(26,143)	(13,405)	(6,735)
Repurchases of common stock	(93,533)	(142,405)	0
Net proceeds from issuance of common stock and stock option exercises	360	74	74
Repurchases of preferred stock of subsidiaries	0	0	(11,781)
Net cash provided by financing activities	234,823	48,362	229,492
Net increase (decrease) in cash and cash equivalents	(5,813)	36,659	(128,027)
Cash and cash equivalents:
At beginning of year	86,007	49,348	177,375
At end of year	80,194	86,007	49,348
Cash paid during the year for:
Interest	6,453	6,413	19,260
Income taxes	1,642	0	5
Cash received during the year for:
Income taxes	0	185	0
Supplemental disclosure of noncash investing and financing activities:
Net change in common stock held by directors’ deferred compensation plan	154	11	39
Net reclassification of loans to other real estate	5,903	2,783	4,358
Net transfer of loans to loans held for sale	6,658	0	0
Net transfer of investment securities available for sale to held to maturity	$ 0	$ 0	$ 101,669

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business Central Pacific Financial Corp. is a bank holding company. Our principal operating subsidiary, Central Pacific Bank, is a full-service commercial bank with 36 branches and 103 ATMs located throughout the state of Hawaii. The bank engages in a broad range of lending activities including originating commercial loans, commercial and residential mortgage loans and consumer loans. The bank also offers a variety of deposit products and services. These include personal and business checking and savings accounts, money market accounts and time certificates of deposit. Other products and services include debit cards, internet banking, cash management services, traveler’s checks, safe deposit boxes, international banking services, night depository facilities and wire transfers. Wealth management products and services include non-deposit investment products, annuities, insurance, investment management, asset custody and general consultation and planning services. When we refer to “the Company,” “we,” “us” or “our,” we mean Central Pacific Financial Corp. & Subsidiaries (consolidated). When we refer to “Central Pacific Financial Corp.” or to the holding company, we are referring to the parent company on a standalone basis. When we refer to “our bank” or “the bank,” we mean “Central Pacific Bank.” The banking business depends on rate differentials, the difference between the interest rates paid on deposits and other borrowings and the interest rates received on loans extended to customers and investment securities held in our portfolio. These rates are highly sensitive to many factors that are beyond our control. Accordingly, the earnings and growth of the Company are subject to the influence of domestic and foreign economic conditions, including inflation, recession and unemployment. We have the following three reportable segments: (1) Banking Operations, (2) Treasury and (3) All Others. The Banking Operations segment includes construction and commercial real estate lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services, and our retail branch offices, which provide a full range of deposit and loan products, as well as various other banking services. The Treasury segment is responsible for managing the Company’s investment securities portfolio and wholesale funding activities. The All Others segment consists of all activities not captured by the Banking Operations and Treasury segments described above and includes activities such as electronic banking, data processing and management of bank owned properties. For further information, see Note 24. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Central Pacific Bank had two wholly-owned subsidiaries as of December 31, 2013: CPB Real Estate, Inc. and Citibank Properties, Inc. Both were real estate investment trusts that were dissolved in 2014. Central Pacific Bank also had two other wholly-owned subsidiaries, CB Technology, Inc. and Central Pacific HomeLoans, Inc., which were dissolved in February 2013 and February 2012, respectively. In December 2015, we acquired a 50% ownership interest in a mortgage loan origination and brokerage company, One Hawaii HomeLoans, LLC. The bank concluded that the investment meets the consolidation requirements under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810, " Consolidation ". The bank concluded that the entity meets the definition of a variable interest entity and that we are the primary beneficiary of the variable interest entity. Accordingly, the investment has been consolidated into our financial statements as of December 31, 2015. We have 50% ownership interests in four other mortgage loan origination and brokerage companies which are accounted for using the equity method and are included in investment in unconsolidated subsidiaries: Pacific Access Mortgage, LLC, Gentry HomeLoans, LLC, Haseko HomeLoans, LLC and Island Pacific HomeLoans, LLC. We also have non-controlling equity investments in affiliates that are accounted for under the cost method and are included in investment in unconsolidated subsidiaries. Our investments in unconsolidated subsidiaries accounted for under the equity and cost methods were $0.6 million and $5.5 million , respectively, at December 31, 2015 and $0.5 million and $6.7 million , respectively, at December 31, 2014 . Our policy for determining impairment of these investments includes an evaluation of whether a loss in value of an investment is other than temporary. Evidence of a loss in value includes absence of an ability to recover the carrying amount of the investment or the inability of the investee to sustain an earnings capacity which would justify the carrying amount of the investment. We perform impairment tests whenever indicators of impairment are present. If the value of an investment declines and it is considered other than temporary, the investment is written down to its respective fair value in the period in which this determination is made. The Company sponsors the Central Pacific Bank Foundation, which is not consolidated in the Company’s financial statements. Use of Estimates The preparation of the consolidated financial statements in conformity with generally accepted accounting principles in the United States (“GAAP”) requires management to make estimates and assumptions that reflect the reported amounts of assets and liabilities and disclosures of contingent assets and contingent liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance and provision for loan and lease losses, reserves for unfunded loan commitments, residential mortgage repurchase reserves and deferred income tax assets and income tax expense, as well as the valuation of investment securities, other intangible assets and the related amortization thereon, pension liability and the fair value of certain financial instruments. Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, we consider cash and cash equivalents to include cash and due from banks, interest-bearing deposits in other banks, federal funds sold and all highly liquid investments with maturities of three months or less at the time of purchase. Investment Securities Investments in debt securities and marketable equity securities are designated as trading, available for sale, or held to maturity. Securities are designated as held to maturity only if we have the positive intent and ability to hold these securities to maturity. Held to maturity debt securities are reported at amortized cost. Trading securities are reported at fair value, with changes in fair value included in earnings. Available-for-sale securities are reported at fair value with net unrealized gains and losses, net of taxes, included in accumulated other comprehensive income (loss) (“AOCI”). We use current quotations, where available, to estimate the fair value of investment securities. Where current quotations are not available, we estimate fair value based on the present value of expected future cash flows. We consider the facts of each security including the nature of the security, the amount and duration of the loss, credit quality of the issuer, the expectations for that security’s performance and our intent and ability to hold the security until recovery. Declines in the value of debt securities and marketable equity securities that are considered other than temporary are recorded in other operating income. Realized gains and losses on the sale of investment securities are recorded in other operating income using the specific identification method. We amortize premiums and accrete discounts associated with investment securities using the interest method over the life of the respective security instrument. We were a member of the Federal Home Loan Bank of Seattle until its merger with the Federal Home Loan Bank of Des Moines on June 1, 2015. We are now a member of the Federal Home Loan Bank of Des Moines (the "FHLB"). The bank is required to obtain and hold a specific number of shares of capital stock of the FHLB equal to the sum of a membership investment requirement and an activity-based investment requirement. The securities are reported at cost and are presented separately in the consolidated balance sheets. Loans Held for Sale Loans held for sale consists of the following two types: (1) Hawaii residential mortgage loans that are originated with the intent to sell them in the secondary market and (2) non-residential mortgage loans in both Hawaii and the U.S. Mainland that were originated with the intent to be held in our portfolio but were subsequently transferred to the held for sale category. Hawaii residential mortgage loans classified as held for sale are carried at the lower of cost or fair value on an aggregate basis, while the non-residential Hawaii and U.S. Mainland loans are recorded at the lower of cost or fair value on an individual basis. Net fees and costs associated with originating and acquiring the Hawaii residential mortgage loans held for sale are deferred and included in the basis for determining the gain or loss on sales of loans held for sale. We report the fair values of the non-residential mortgage loans classified as held for sale net of applicable selling costs on our consolidated balance sheets. Loans originated with the intent to be held in our portfolio are subsequently transferred to held for sale when our intent to hold for the foreseeable future has changed. At the time of a loan’s transfer to the held for sale account, the loan is recorded at the lower of cost or fair value. Any reduction in the loan’s value is reflected as a write-down of the recorded investment resulting in a new cost basis, with a corresponding reduction in the allowance for loan and lease losses. In subsequent periods, if the fair value of a loan classified as held for sale is less than its cost basis, a valuation adjustment is recognized in our consolidated statement of income in other operating expense and the carrying value of the loan is adjusted accordingly. The valuation adjustment may be recovered in the event that the fair value increases, which is also recognized in our consolidated statement of income in other operating expense. The fair value of loans classified as held for sale are generally based upon quoted prices for similar assets in active markets, acceptance of firm offer letters with agreed upon purchase prices, discounted cash flow models that take into account market observable assumptions, or independent appraisals of the underlying collateral securing the loans. Collateral values are determined based on appraisals received from qualified valuation professionals and are obtained periodically or when indicators that property values may be impaired are present. We sell residential mortgage loans under industry standard contractual provisions that include various representations and warranties, which typically cover ownership of the loan, compliance with loan criteria set forth in the applicable agreement, validity of the lien securing the loan, and other similar matters. We may be required to repurchase certain loans sold with identified defects, indemnify the investor, or reimburse the investor for any credit losses incurred. Our repurchase risk generally relates to early payment defaults and borrower fraud. We establish residential mortgage repurchase reserves to reflect this risk based on our estimate of losses after considering a combination of factors, including our estimate of future repurchase activity and our projection of expected credit losses resulting from repurchased loans. At December 31, 2015 and 2014 , this reserve totaled $0.4 million and $2.7 million , respectively, and is included in other liabilities on our consolidated balance sheets. Loans Loans are stated at the principal amount outstanding, net of unearned income. Unearned income represents net deferred loan fees that are recognized over the life of the related loan as an adjustment to yield. Net deferred loan fees are amortized using the interest method over the contractual term of the loan, adjusted for actual prepayments. Unamortized fees on loans paid in full are recognized as a component of interest income. Interest income on loans is recognized on an accrual basis. For all loan types, the Company determines delinquency status by considering the number of days full payments required by the contractual terms of the loan are past due. Loans are placed on nonaccrual status when interest payments are 90 days past due, or earlier should management determine that the borrowers will be unable to meet contractual principal and/or interest obligations, unless the loans are well-secured and in the process of collection. When a loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed against current period interest income should management determine that the collectibility of such accrued interest is doubtful. All subsequent receipts are applied to principal outstanding and no interest income is recognized unless the financial condition and payment record of the borrowers warrant such recognition. A nonaccrual loan may be restored to an accrual basis when principal and interest payments are current and full payment of principal and interest is expected. Leases We provide equipment financing to our customers through a variety of lease arrangements. Direct financing leases are carried at the aggregate of lease payments receivable plus estimated residual value of the leased property, less unearned income. Unearned income on direct financing leases is amortized over the lease terms by methods that approximate the interest method. Our lease portfolio has declined over the last seven years and had an outstanding balance of $1.0 million and $3.1 million at December 31, 2015 and 2014 , respectively. Allowance for Loan and Lease Losses The allowance for loan and lease losses (the “Allowance”) is established through provisions for loan and lease losses (the “Provision”) charged against income. Our policy is to charge a loan off in the period in which the loan is deemed to be uncollectible and all interest previously accrued but not collected is reversed against current period interest income. We consider a loan to be uncollectible when it is probable that a loss has been incurred and the Company can make a reasonable estimate of the loss. In these instances, the likelihood of and/or timeframe for recovery of the amount due is uncertain, weak, or protracted. Subsequent receipts, if any, are credited first to the remaining principal, then to the Allowance as recoveries, and finally to unaccrued interest. The Allowance is management’s estimate of credit losses inherent in our loan and lease portfolio at the balance sheet date. We maintain our Allowance at an amount we expect to be sufficient to absorb probable losses inherent in our loan and lease portfolio based on a projection of probable net loan charge-offs. The Company’s approach to developing the Allowance has three basic elements. These elements include specific reserves for individually impaired loans, a general allowance for loans other than those analyzed as individually impaired, and an unallocated reserve. These three methods are explained below. Specific Reserve Individually impaired loans in all loan categories are evaluated using one of three valuation methods as prescribed under Accounting Standards Codification (“ASC”) 310-10, Fair Value of Collateral, Observable Market Price, or Cash Flow . A loan is generally evaluated for impairment on an individual basis if it meets one or more of the following characteristics: risk-rated as substandard, doubtful or loss, loans on nonaccrual status, troubled debt restructures, or any loan deemed prudent by management to so analyze. If the valuation of the impaired loan is less than the recorded investment in the loan, the deficiency will be charged off against the Allowance or, alternatively, a specific reserve will be established and included in the overall Allowance balance. General Allowance In determining the general allowance component of the Allowance, the Company utilizes a comprehensive approach to segment the loan portfolio into homogenous groups. Six criteria divide the Company’s loan portfolio into 128 homogenous subsectors. First, loans are divided by general geographic region (U.S. Mainland and Hawaii). Second, loans are subdivided according to FDIC classification (Construction, Commercial Mortgage, Commercial, Financial and Agricultural, Leases, Residential Mortgage, Consumer). Third, loans within the Construction category are further subdivided by collateral type (Commercial and Residential). Fourth, loans within the Residential Mortgage category are further subdivided by ownership type (Investor-owned and Owner-occupied). Fifth, loans are subdivided by state or for some, by county (All Hawaii, Hawaii Island, Kauai, Maui, Oahu, Other Hawaii, All U.S. Mainland, Los Angeles/Orange County CA, Riverside/San Bernardino CA, Sacramento/Placer/El Dorado/Yolo CA, San Diego CA, Washington/Oregon, Other U.S. Mainland). Finally, loans are further subdivided by risk rating (Pass, Special Mention, Substandard, and Doubtful). For the purpose of determining general allowance loss factors, loss experience is derived from charge-offs and recoveries. From 2010 through 2013, the calculation of subsector loss factors involved the summation of charge-offs and recoveries that occurred within the last eight quarters (for loans secured by real estate) or four quarters (for all other loans) divided by the average loan balance over the last eight or four quarters, respectively. The eight or four quarter period is referred to as the look-back period. We did not apply any weighting schema to our loss experience over the look-back period. A rolling eight quarter period was utilized for FDIC classifications involving real estate collateral to account for prolonged loss recognition and ultimate disposition periods associated with loans secured by real estate. The Company’s rapidly evolving loss experience necessitated the use of shorter loss analysis periods in order to ensure that loss rates would be adequately responsive to changes in loss experience. During that period, the Company considered recent loss data to be more relevant to the period then under analysis. The look-back period was also consistent with commentary provided by our primary banking regulator following our 2010 Safety and Soundness Examination. During 2012 through 2014, economic conditions stabilized, and improved credit quality trends have contributed to consistent reductions to the Allowance. Given the diminishing loss rates, in the first quarter of 2014 the look-back period was extended to 17 quarters, with the intention of extending the look-back period each quarter thereafter to a total of 24 quarters or six years to incorporate broader loss experience through a more complete economic cycle and reduce the Company’s reliance on proxy loss rates by capturing more of the Company’s own historical loss experience in this extended look-back period. The enhanced methodology does not incorporate data from before 2010 because the Company has reason to believe that anomalous charge-off activity may cause pre-2010 internal loss data to be an inappropriate representation of future loss experience. We believe that this longer look-back period is appropriate in light of the Company’s limited loss experience throughout the recent economic recovery and stabilization. Additionally, as economic conditions have stabilized over 2012 through 2014, lower loss rate volatility has diminished the need for shorter loss analysis periods that are more responsive to shifts in loss experience. In our revised approach, the losses during the six year look-back period will be weighted to place more emphasis on recent loss experience. Also in late 2013, the Company received guidance from its primary banking regulator supporting the use of extended loss analysis periods. The Supervisory Examiner recommended a periodic reassessment of the look-back period and suggested that a look-back period beyond eight quarters may be more reasonable given the then current economic conditions and portfolio performance. Our Allowance methodology uses qualitative adjustments for economic/market conditions and Company-specific conditions. The economic/market conditions factor is applied on a regional/geographic basis. The Company-specific condition factor is applied on a category basis. Two key indicators, personal income and unemployment, comprise the economic/market adjustment factor. Personal income is analyzed by comparing average quarter-to-quarter percentage change trends reported by the U.S. Bureau of Economic Analysis. Specifically, the rolling four quarter average percentage change in personal income is calculated and compared to a baseline historical factor, calculated as the average quarter-to-quarter percentage change over the prior 10 years. The difference between the current average change and the historical average change is utilized as the personal income component of the economic/market adjustment factor. The second component of the economic/market factor, unemployment, is derived by comparing the current quarter unemployment rate, reported by the U.S. Bureau of Labor Statistics, to its 10 year historical average. A constant scaling factor is applied to the difference between the current rate and the historical average in order to smooth significant period-to-period fluctuations. The result is utilized as the unemployment component of the economic factor. The personal income factor and unemployment factor are added together to determine each region’s total economic/market adjustment factor. The general allowance also incorporates qualitative adjustment factors that capture company-specific conditions for which national/regional statistics are not available, or for which significant localized market specific events have not yet been captured within regional statistics or the Company’s historical loss experience. Since we cannot predict with certainty the amount of loan and lease charge-offs that will be incurred and because the eventual level of loan and lease charge-offs are impacted by numerous conditions beyond our control, we use our historical loss experience adjusted for current conditions to determine both our Allowance and Provision. In addition, various regulatory agencies, as an integral part of their examination processes, periodically review our Allowance. The determination of the Allowance requires us to make estimates of losses that are highly uncertain and involves a high degree of judgment. Accordingly, actual results could differ from those estimates. Changes in the estimate of the Allowance and related Provision could materially affect our operating results. Unallocated Reserve The Company may also maintain an unallocated Allowance amount to provide for other credit losses inherent in our loan and lease portfolio that may not have been contemplated in the credit loss factors. The unallocated reserve is a measure to address judgmental estimates that are inevitably imprecise and it reflects an adjustment to the Allowance that is not attributable to specific categories of the loan portfolio. The unallocated reserve is distinct from and not captured in the Company’s qualitative adjustments in the general component of the Allowance. Accordingly, the unallocated reserve is intended to capture broader national and global economic risks that could potentially have a ripple effect on our loan portfolio. The decrease in the unallocated reserve in 2015 was primarily due to amounts that were included in the unallocated reserve in 2014 being captured in the allocated reserve in 2015. Reserve for Unfunded Commitments Our process for determining the reserve for unfunded loan commitments is consistent with our process for determining the Allowance and is adjusted for estimated loan funding probabilities. The reserve for unfunded loan commitments is recorded separately through a valuation allowance included in other liabilities. Credit losses for off-balance sheet credit exposures are deducted from the allowance for credit losses on off-balance sheet credit exposures in the period in which the liability is settled. The allowance for credit losses on off-balance sheet credit losses is established by a charge to other operating expense. Premises and Equipment Premises and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization are included in other operating expense and are computed using the straight-line method over the shorter of the estimated useful lives of the assets or the applicable leases. Useful lives generally range from five to thirty-nine years for premises and improvements, and one to seven years for equipment. Major improvements and betterments are capitalized, while recurring maintenance and repairs are charged to operating expense. Net gains or losses on dispositions of premises and equipment are included in other operating expense. Other Intangible Assets Other intangible assets include a core deposit premium and mortgage servicing rights. Our core deposit premium is being amortized over 14 years which approximates the estimated life of the purchased deposits. The carrying value of our core deposit premium is periodically evaluated to estimate the remaining periods of benefit. If these periods of benefit are determined to be less than the remaining amortizable life, an adjustment to reflect such shorter life will be made. We utilize the amortization method to measure our mortgage servicing rights. Under the amortization method, we amortize our mortgage servicing rights in proportion to and over the period of net servicing income. Income generated as the result of new mortgage servicing rights is reported as gains on sales of loans. Amortization of the servicing rights is reported as amortization of other intangible assets in our consolidated statements of income. Ancillary income is recorded in other income. Mortgage servicing rights are recorded when loans are sold to third-parties with servicing of those loans retained and we classify our entire mortgage servicing rights into one class. Initial fair value of the servicing right is calculated by a discounted cash flow model prepared by a third party service provider based on market value assumptions at the time of origination and we assess the servicing right for impairment using current market value assumptions at each reporting period. Critical assumptions used in the discounted cash flow model include mortgage prepayment speeds, discount rates, costs to service and ancillary income. Variations in our assumptions could materially affect the estimated fair values. Changes to our assumptions are made when current trends and market data indicate that new trends have developed. Current market value assumptions based on loan product types (fixed rate, adjustable rate and balloon loans) include average discount rates, servicing cost and ancillary income. Many of these assumptions are subjective and require a high level of management judgment. Our mortgage servicing rights portfolio and valuation assumptions are periodically reviewed by management. The fair value of our mortgage servicing rights is validated by first ensuring the completeness and accuracy of the loan data used in the valuation analysis. Reconciliation is performed by comparing the loan data from our loan system to a valuation report prepared by a third party. Additionally, the critical assumptions which come from the third party are reviewed by management. This review may include comparing actual assumptions to forecast or evaluating the reasonableness of market assumptions by reviewing them in relation to the values and trends of assumptions used by peer banks. The validation process also includes reviewing key metrics such as the fair value as a percentage of the total unpaid principal balance of the mortgages serviced, and the resulting percentage as a multiple of the net servicing fee. These key metrics are tracked to ensure the trends are reasonable, and are periodically compared to peer banks. Prepayment speeds may be affected by economic factors such as home price appreciation, market interest rates, the availability of other credit products to our borrowers and customer payment patterns. Prepayment speeds include the impact of all borrower prepayments, including full payoffs, additional principal payments and the impact of loans paid off due to foreclosure liquidations. We perform an impairment assessment of our other intangible assets whenever events or changes in circumstance indicate that the carrying value of those assets may not be recoverable. Our impairment assessments involve, among other valuation methods, the estimation of future cash flows and other methods of determining fair value. Estimating future cash flows and determining fair values is subject to judgments and often involves the use of significant estimates and assumptions. The variability of the factors we use to perform our impairment tests depend on a number of conditions, including uncertainty about future events and cash flows. All such factors are interdependent and, therefore, do not change in isolation. Accordingly, our accounting estimates may materially change from period to period due to changing market factors. Other Real Estate Other real estate is composed of properties acquired through foreclosure proceedings and is initially recorded at fair value less estimated costs to sell the property, thereby establishing the new cost basis of other real estate. Losses arising at the time of acquisition of such properties are charged against the Allowance. Subsequent to acquisition, such properties are carried at the lower of cost or fair value less estimated selling expenses, determined on an individual asset basis. Any deficiency resulting from the excess of cost over fair value less estimated selling expenses is recognized as a valuation allowance. Any subsequent increase in fair value up to its cost basis is recorded as a reduction of the valuation allowance. Increases or decreases in the valuation allowance are included in other operating expense. Net gains or losses recognized on the sale of these properties are included in other operating income. Non-Controlling Interest Non-controlling interest at December 31, 2015 was comprised of capital and undistributed profits of the member of One Hawaii HomeLoans, LLC, other than the bank. Non-controlling interest on our consolidated balance sheet at December 31, 2015 totaled $25 thousand . Share Based Compensation Share-based compensation cost is measured at the grant date, based on the estimated fair value of the award, and is recognized as expense over the employee’s requisite service period. We use the Black-Scholes option-pricing model to determine the fair-value of stock-based awards and we recognize compensation expense for all share-based payment awards on a straight-line basis over their respective vesting period. See Note 14 for further discussion of our stock-based compensation. Income Taxes Deferred tax assets and liabilities are recognized for the estimated future tax effects attributable to temporary differences and carryforwards. A valuation allowance may be required if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. In determining whether a valuation allowance is necessary, we consider the level of taxable income in prior years, to the extent that carrybacks are permitted under current tax laws, as well as estimates of future taxable income and tax planning strategies that could be implemented to accelerate taxable income, if necessary. If our estimates of future taxable income were materially overstated or if our assumptions regarding the tax consequences of tax planning strategies were in

RESERVE REQUIREMENTS

RESERVE REQUIREMENTS	12 Months Ended
	Dec. 31, 2015
Banking and Thrift [Abstract]
RESERVE REQUIREMENTS	RESERVE REQUIREMENTS The bank is required by the Federal Reserve Bank of San Francisco to maintain reserves based on the amount of deposits held. The amount held as a reserve by our bank at December 31, 2015 and 2014 was $59.5 million and $64.2 million , respectively.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	12 Months Ended
	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	3. INVESTMENT SECURITIES A summary of our investment securities portfolio as of December 31, 2015 and 2014 is as follows: Amortized Gross Gross Estimated (Dollars in thousands) December 31, 2015 Held-to-Maturity: Mortgage-backed securities: Residential - U.S. Government sponsored entities $ 152,315 $ 123 $ (2,915 ) $ 149,523 Commercial - U.S. Government sponsored entities 95,602 — (989 ) 94,613 Total $ 247,917 $ 123 $ (3,904 ) $ 244,136 Available-for-Sale: Debt securities: States and political subdivisions $ 187,552 $ 3,819 $ (898 ) $ 190,473 Corporate securities 107,721 1,077 (227 ) 108,571 Mortgage-backed securities: Residential - U.S. Government sponsored entities 771,657 5,885 (5,633 ) 771,909 Residential - Non-government sponsored entities 64,286 733 (987 ) 64,032 Commercial - Non-government sponsored entities 135,439 2,033 (1,118 ) 136,354 Other 848 68 — 916 Total $ 1,267,503 $ 13,615 $ (8,863 ) $ 1,272,255 December 31, 2014 Held-to-Maturity: Mortgage-backed securities: Residential - U.S. Government sponsored entities $ 140,741 $ 196 $ (2,150 ) $ 138,787 Commercial - U.S. Government sponsored entities 97,546 — (736 ) 96,810 Total $ 238,287 $ 196 $ (2,886 ) $ 235,597 Available-for-Sale: Debt securities: States and political subdivisions $ 191,280 $ 2,054 $ (1,689 ) $ 191,645 Corporate securities 99,237 1,492 (125 ) 100,604 Mortgage-backed securities: Residential - U.S. Government sponsored entities 744,527 11,064 (4,033 ) 751,558 Residential - Non-government sponsored entities 45,275 1,510 (92 ) 46,693 Commercial - Non-government sponsored entities 135,630 2,946 (935 ) 137,641 Other 757 120 — 877 Total $ 1,216,706 $ 19,186 $ (6,874 ) $ 1,229,018 The amortized cost and estimated fair value of our investment securities at December 31, 2015 by contractual maturity are shown below. Actual maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. December 31, 2015 Amortized Estimated (Dollars in thousands) Held-to-Maturity: Mortgage-backed securities $ 247,917 $ 244,136 Available-for-Sale: Due in one year or less $ 15,596 $ 15,797 Due after one year through five years 106,255 107,125 Due after five years through ten years 73,452 74,980 Due after ten years 99,970 101,142 Mortgage-backed securities 971,382 972,295 Other 848 916 Total $ 1,267,503 $ 1,272,255 Proceeds from sales of investment securities available for sale were $117.5 million , $162.5 million , and $271.9 million in 2015 , 2014 and 2013 , respectively, resulting in no gross realized gains in 2015, and gross gains of $0.9 million and $3.9 million in 2014 and 2013 , respectively. Gross realized losses were $1.9 million , $0.7 million , and $3.4 million in 2015 , 2014 and 2013 , respectively. The specific identification method was used as the basis for determining the cost of all securities sold. In the second quarter of 2015, we completed an investment portfolio repositioning strategy designed to reduce net interest income volatility and enhance the potential prospective earnings and an improved net interest margin. In connection with the repositioning, we sold $119.4 million in lower-yielding available-for-sale non-agency collateralized mortgage obligation securities, and purchased $120.6 million in higher yielding, longer duration mortgage-backed securities. The securities sold had an average net yield of 1.35% and a weighted average life of 4.4 years. Gross proceeds of the sale were reinvested into agency mortgage-backed securities with an average net yield of 2.71% and weighted average life of 7.6 years. The new securities were classified in the available-for-sale portfolio. Gross realized losses on the sale of the available for sale investment securities were $1.9 million . In the second quarter of 2014 , we sold certain available-for-sale investment securities for gross proceeds of $162.5 million . Gross realized gains and losses on the sales of the available-for-sale investment securities were $0.9 million and $0.7 million , respectively. The securities sold had an average net yield of 2.69% and weighted average life of 5.7 years. Proceeds of the sale were used to reduce overnight borrowings, improving the bank's interest rate position in a rising rate environment. Investment securities of $1.0 billion and $900.5 million at December 31, 2015 and 2014 , respectively, were pledged to secure public funds on deposit and other long-term and short-term borrowings. There were a total of 155 and 195 securities in an unrealized loss position at December 31, 2015 and 2014 , respectively. Provided below is a summary of investment securities which were in an unrealized loss position at December 31, 2015 and 2014 : Less than 12 months 12 months or longer Total Description of Securities Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (Dollars in thousands) December 31, 2015 Debt securities: States and political subdivisions $ 30,481 $ (532 ) $ 12,576 $ (366 ) $ 43,057 $ (898 ) Corporate securities 32,977 (227 ) — — 32,977 (227 ) Mortgage-backed securities: Residential - U.S. Government sponsored entities 507,525 (6,241 ) 88,271 (2,307 ) 595,796 (8,548 ) Residential - Non-government sponsored entities 37,975 (987 ) — — 37,975 (987 ) Commercial - U.S. Government sponsored entities 94,613 (989 ) — — 94,613 (989 ) Commercial - Non-government sponsored entities 62,555 (961 ) 4,644 (157 ) 67,199 (1,118 ) Total temporarily impaired securities $ 766,126 $ (9,937 ) $ 105,491 $ (2,830 ) $ 871,617 $ (12,767 ) December 31, 2014 Debt securities: States and political subdivisions $ 23,591 $ (145 ) $ 68,622 $ (1,544 ) $ 92,213 $ (1,689 ) Corporate securities 23,938 (125 ) — — 23,938 (125 ) Mortgage-backed securities: Residential - U.S. Government sponsored entities 107,755 (487 ) 318,571 (5,696 ) 426,326 (6,183 ) Residential - Non-government sponsored entities 15,895 (92 ) — — 15,895 (92 ) Commercial - U.S. Government sponsored entities 11,455 (34 ) 85,355 (702 ) 96,810 (736 ) Commercial - Non-government sponsored entities 4,962 (8 ) 47,539 (927 ) 52,501 (935 ) Total temporarily impaired securities $ 187,596 $ (891 ) $ 520,087 $ (8,869 ) $ 707,683 $ (9,760 ) The unrealized losses on the Company’s investment securities were caused by market conditions. Investment securities are evaluated on a quarterly basis, and include evaluating the changes in the investment securities’ ratings issued by rating agencies and changes in the financial condition of the issuer, and for mortgage related securities, delinquency and loss information with respect to the underlying collateral, changes in levels of subordination for the Company’s particular position within the repayment structure, and remaining credit enhancement as compared to expected credit losses of the security. Substantially all of these investment securities continue to be investment grade rated by one or more major rating agencies. Other-than-temporary impairment (“OTTI”) Unrealized losses for all investment securities are reviewed to determine whether the losses are “other-than-temporary.” Investment securities are evaluated for OTTI on at least a quarterly basis and more frequently when economic or market conditions warrant such an evaluation to determine whether a decline in their value below amortized cost is other-than-temporary. In conducting this assessment, we evaluate a number of factors including, but not limited to: • The length of time and the extent to which fair value has been less than the amortized cost basis; • Adverse conditions specifically related to the security, an industry, or a geographic area; • The historical and implied volatility of the fair value of the security; • The payment structure of the debt security and the likelihood of the issuer being able to make payments; • Failure of the issuer to make scheduled interest or principal payments; • Any rating changes by a rating agency; and • Recoveries or additional decline in fair value subsequent to the balance sheet date. The term “other-than-temporary” is not intended to indicate that the decline is permanent, but indicates that the prospects for a near-term recovery of value are not necessarily favorable, or that there is a general lack of evidence to support a realizable value equal to or greater than the carrying value of the investment. Once a decline in value is determined to be other-than-temporary, the value of the security is reduced and a corresponding charge to earnings is recognized for anticipated credit losses. The declines in market value were primarily attributable to changes in interest rates and disruptions in the credit and financial markets. Because we have no intent to sell securities in an unrealized loss position and it is not more likely than not that we will be required to sell such securities before recovery of its amortized cost basis, we do not consider our investments to be other-than-temporarily impaired.

LOANS AND LEASES

LOANS AND LEASES	12 Months Ended
	Dec. 31, 2015
Receivables [Abstract]
LOANS AND LEASES	LOANS AND LEASES Loans and leases, excluding loans held for sale, consisted of the following: December 31, 2015 2014 (Dollars in thousands) Commercial, financial & agricultural $ 520,457 $ 463,070 Real estate: Construction 85,196 115,023 Mortgage - residential 1,433,862 1,280,089 Mortgage - commercial 761,566 704,099 Consumer 408,024 365,662 Leases 1,028 3,140 3,210,133 2,931,083 Net deferred costs 1,399 1,115 Total loans and leases $ 3,211,532 $ 2,932,198 There are different types of risk characteristics for the loans in each portfolio segment. The construction and real estate segment’s predominant risk characteristics are the collateral and the geographic location of the property collateralizing the loan, as well as the operating cash flow for the commercial real estate properties. The commercial and industrial (including leases) segment’s predominant risk characteristics are the cash flows of the business we lend to, the global cash flows and liquidity of the guarantors of such losses, as well as economic and market conditions. The consumer segment’s predominant risk characteristics are employment and income levels as they relate to the consumer. During the year ended December 31, 2015 , we transferred the collateral in eight portfolio loans with a carrying value of $2.2 million to other real estate. In the second quarter of 2015, we transferred two portfolio loans with a carrying value of $6.6 million to the held-for-sale category, and later sold the two loans in the second quarter of 2015 at its carrying value. In 2015 , we purchased two auto loan portfolios totaling $52.8 million , which included a $1.7 million premium over the $51.1 million outstanding balance. At the time of purchase, the auto loan portfolios had a weighted average remaining term of 74 months . In 2015 , we also purchased unsecured consumer loans totaling $15.9 million , which represented the outstanding balance at the time of purchases. At the time of purchases, the unsecured consumer loans had a weighted average remaining term of 37 months . During the year ended December 31, 2014 , we transferred the collateral in six portfolio loans with a carrying value of $2.8 million to other real estate. We did not transfer any portfolio loans to the held-for-sale category and we did not sell any portfolio loans in 2014 . In 2014 , we purchased auto loan portfolios for $11.2 million , which included a $0.3 million premium over the $10.9 million outstanding balance. At the time of purchase, the auto loan portfolios had a weighted average remaining term of 71 months . In 2014 , we also purchased participation interests in student loans totaling $51.5 million , which represented the outstanding balance at the time of purchases. At the time of purchases, the student loans had a weighted average remaining term of 123 months . In the normal course of business, our bank makes loans to certain directors, executive officers and their affiliates. An analysis of the activity of such loans follows: December 31, 2015 2014 (Dollars in thousands) Balance, beginning of year $ 29,231 $ 12,942 Additions 10,392 19,448 Repayments (20,863 ) (3,159 ) Other changes $ (8,285 ) $ — Balance, end of year $ 10,475 $ 29,231 Other changes represent changes in the composition of directors, executive officers and their affiliates that occurred during the year. Impaired Loans The following table presents by class, the balance in the Allowance and the recorded investment in loans and leases based on the Company’s impairment method as of December 31, 2015 and 2014 : Commercial, Real estate Financial & Construction Mortgage - Mortgage - Consumer Leases Total (Dollars in thousands) December 31, 2015 Allowance for loan and lease losses: Ending balance attributable to loans: Individually evaluated for impairment $ — $ — $ — $ 51 $ — $ — $ 51 Collectively evaluated for impairment 6,905 8,454 17,738 21,796 6,230 — 61,123 6,905 8,454 17,738 21,847 6,230 — 61,174 Unallocated 2,140 Total ending balance $ 6,905 $ 8,454 $ 17,738 $ 21,847 $ 6,230 $ — $ 63,314 Loans and leases: Individually evaluated for impairment $ 1,044 $ 4,126 $ 22,716 $ 10,318 $ — $ — $ 38,204 Collectively evaluated for impairment 519,413 81,070 1,411,146 751,248 408,024 1,028 3,171,929 520,457 85,196 1,433,862 761,566 408,024 1,028 3,210,133 Net deferred costs (income) 629 (311 ) 2,443 (817 ) (545 ) — 1,399 Total ending balance $ 521,086 $ 84,885 $ 1,436,305 $ 760,749 $ 407,479 $ 1,028 $ 3,211,532 December 31, 2014 Allowance for loan and lease losses: Ending balance attributable to loans: Individually evaluated for impairment $ 1,533 $ — $ — $ — $ — $ — $ 1,533 Collectively evaluated for impairment 7,421 14,969 17,927 20,869 7,314 7 68,507 8,954 14,969 17,927 20,869 7,314 7 70,040 Unallocated 4,000 Total ending balance $ 8,954 $ 14,969 $ 17,927 $ 20,869 $ 7,314 $ 7 $ 74,040 Loans and leases: Individually evaluated for impairment $ 13,369 $ 4,888 $ 30,893 $ 23,126 $ — $ — $ 72,276 Collectively evaluated for impairment 449,701 110,135 1,249,196 680,973 365,662 3,140 2,858,807 463,070 115,023 1,280,089 704,099 365,662 3,140 2,931,083 Net deferred costs (income) 693 (469 ) 2,235 (826 ) (518 ) — 1,115 Total ending balance $ 463,763 $ 114,554 $ 1,282,324 $ 703,273 $ 365,144 $ 3,140 $ 2,932,198 The following table presents by class, impaired loans as of December 31, 2015 and 2014 : Unpaid Recorded Allowance (Dollars in thousands) December 31, 2015 Impaired loans with no related allowance recorded: Commercial, financial & agricultural $ 1,155 $ 1,044 $ — Real estate: Construction 10,472 4,126 — Mortgage - residential 24,792 22,716 — Mortgage - commercial 10,010 9,152 — Total impaired loans with no related allowance recorded 46,429 37,038 — Impaired loans with an allowance recorded: Real estate: Mortgage - commercial 1,166 1,166 51 Total impaired loans with an allowance recorded 1,166 1,166 51 Total $ 47,595 $ 38,204 $ 51 December 31, 2014 Impaired loans with no related allowance recorded: Commercial, financial & agricultural $ 738 $ 738 $ — Real estate: Construction 11,275 4,888 — Mortgage - residential 34,131 30,893 — Mortgage - commercial 30,249 23,126 — Total impaired loans with no related allowance recorded 76,393 59,645 — Impaired loans with an allowance recorded: Commercial, financial & agricultural 16,630 12,631 1,533 Total impaired loans with an allowance recorded 16,630 12,631 1,533 Total $ 93,023 $ 72,276 $ 1,533 The following table presents by class, the average recorded investment and interest income recognized on impaired loans as of December 31, 2015 , 2014 and 2013 : Average Interest (Dollars in thousands) December 31, 2015 Commercial, financial & agricultural $ 6,273 $ 17 Real estate: Construction 4,428 190 Mortgage - residential 26,101 78 Mortgage - commercial 14,240 373 Total $ 51,042 $ 658 December 31, 2014 Commercial, financial & agricultural $ 14,303 $ 22 Real estate: Construction 5,517 163 Mortgage - residential 33,102 627 Mortgage - commercial 18,692 397 Total $ 71,614 $ 1,209 December 31, 2013 Commercial, financial & agricultural $ 4,138 $ 24 Real estate: Construction 24,545 1,442 Mortgage - residential 38,325 586 Mortgage - commercial 21,160 833 Leases 33 — Total $ 88,201 $ 2,885 Aging Analysis of Accruing and Non-Accruing Loans and Leases For all loan types, the Company determines delinquency status by considering the number of days full payments required by the contractual terms of the loan are past due. The following table presents by class, the aging of the recorded investment in past due loans and leases as of December 31, 2015 and 2014 : 30 - 59 60 - 89 Accruing Loans Greater Than 90 Days Past Due Nonaccrual Total Loans and Total (Dollars in thousands) December 31, 2015 Commercial, financial & agricultural $ 276 $ 140 $ — $ 1,044 $ 1,460 $ 519,626 $ 521,086 Real estate: Construction — — — — — 84,885 84,885 Mortgage - residential 3,834 545 — 6,130 10,509 1,425,796 1,436,305 Mortgage - commercial 54 — — 7,094 7,148 753,601 760,749 Consumer 1,443 521 273 — 2,237 405,242 407,479 Leases — — — — — 1,028 1,028 Total $ 5,607 $ 1,206 $ 273 $ 14,268 $ 21,354 $ 3,190,178 $ 3,211,532 December 31, 2014 Commercial, financial & agricultural $ 183 $ 85 $ — $ 13,007 $ 13,275 $ 450,488 $ 463,763 Real estate: Construction — — — 310 310 114,244 114,554 Mortgage - residential 3,078 379 — 13,048 16,505 1,265,819 1,282,324 Mortgage - commercial 68 — — 12,722 12,790 690,483 703,273 Consumer 1,500 417 77 — 1,994 363,150 365,144 Leases — — — — — 3,140 3,140 Total $ 4,829 $ 881 $ 77 $ 39,087 $ 44,874 $ 2,887,324 $ 2,932,198 Interest income totaling $0.5 million , $0.4 million , and $0.4 million was recognized on nonaccrual loans, including loans held for sale, in 2015 , 2014 and 2013 , respectively. Additional interest income of $1.5 million , $4.0 million , and $4.9 million would have been recognized in 2015 , 2014 and 2013 , respectively, had these loans been accruing interest throughout those periods. Additionally, interest income of $0.8 million , $0.2 million , and $2.5 million was collected and recognized on charged-off loans in 2015 , 2014 and 2013 , respectively. Modifications TDRs included in nonperforming assets at December 31, 2015 consisted of 22 Hawaii residential mortgage loans with a combined principal balance of $3.5 million , one Hawaii commercial mortgage loan with a principal balance of $2.1 million , and three Hawaii commercial loans with a combined principal balance of $1.0 million . Concessions made to the original contractual terms of these loans consisted primarily of the deferral of interest and/or principal payments due to deterioration in the borrowers’ financial condition. The principal balances on these TDRs had matured and/or were in default at the time of restructure and we have no commitments to lend additional funds to any of these borrowers. There were $20.3 million of TDRs still accruing interest at December 31, 2015 , none of which were more than 90 days delinquent. At December 31, 2014 , there were $29.5 million of TDRs still accruing interest, none of which were more than 90 days delinquent. Some loans modified in a TDR may already be on nonaccrual status and partial charge-offs may have already been taken against the outstanding loan balance. Thus, these loans have already been identified as impaired and have already been evaluated under the Company’s Allowance methodology. As a result, some loans modified in a TDR may have the financial effect of increasing the specific allowance associated with the loan. The loans modified in a TDR did not have a material effect on our Provision and Allowance during the years ended December 31, 2015 and 2014 . The following table presents by class, information related to loans modified in a TDR during the years ended December 31, 2015 and 2014 : Number of Recorded Increase in (Dollars in thousands) Year ended December 31, 2015 Commercial, financial & agricultural 1 $ 488 $ — Real estate: mortgage - residential 3 4,131 — 4 4,619 — Year ended December 31, 2014 Real estate: mortgage - residential 12 $ 790 $ — The following table presents by class, loans modified as a TDR within the previous twelve months that subsequently defaulted during the years ended December 31, 2015 and 2014 : Year Ended December 31, 2015 2014 Number of Recorded Number of Recorded (Dollars in thousands) Real estate: mortgage - residential — $ — 1 $ 25 Total — $ — 1 $ 25 Credit Quality Indicators The Company categorizes loans and leases into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans and leases individually by classifying the loans and leases as to credit risk. This analysis includes non-homogeneous loans and leases, such as commercial and commercial real estate loans. This analysis is performed on a quarterly basis. The Company uses the following definitions for risk ratings: Special Mention. Loans and leases classified as special mention, while still adequately protected by the borrower’s capital adequacy and payment capability, exhibit distinct weakening trends and/or elevated levels of exposure to external conditions. If left unchecked or uncorrected, these potential weaknesses may result in deteriorated prospects of repayment. These exposures require management’s close attention so as to avoid becoming undue or unwarranted credit exposures. Substandard. Loans and leases classified as substandard are inadequately protected by the borrower’s current financial condition and payment capability or of the collateral pledged, if any. Loans and leases so classified have a well-defined weakness or weaknesses that jeopardize the orderly repayment of debt. They are characterized by the distinct possibility that the bank will sustain some loss if the deficiencies are not corrected. Doubtful. Loans and leases classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or orderly repayment in full, on the basis of current existing facts, conditions and values, highly questionable and improbable. Possibility of loss is extremely high, but because of certain important and reasonably specific factors that may work to the advantage and strengthening of the exposure, its classification as an estimate loss is deferred until its more exact status may be determined. Loss. Loans and leases classified as loss are considered to be non-collectible and of such little value that their continuance as bankable assets is not warranted. This does not mean the loan has absolutely no recovery value, but rather it is neither practical nor desirable to defer writing off the loan, even though partial recovery may be obtained in the future. Losses are taken in the period in which they surface as uncollectible. Loans and leases not meeting the criteria above are considered to be pass rated loans and leases. The following table presents by class and credit indicator, the recorded investment in the Company’s loans and leases as of December 31, 2015 and 2014 : Pass Special Substandard Subtotal Net Deferred Total (Dollars in thousands) December 31, 2015 Commercial, financial & agricultural $ 514,971 $ 2,168 $ 3,318 $ 520,457 $ 629 $ 521,086 Real estate: Construction 83,601 808 787 85,196 (311 ) 84,885 Mortgage - residential 1,427,732 — 6,130 1,433,862 2,443 1,436,305 Mortgage - commercial 705,520 41,335 14,711 761,566 (817 ) 760,749 Consumer 407,778 95 151 408,024 (545 ) 407,479 Leases 1,028 — — 1,028 — 1,028 Total $ 3,140,630 $ 44,406 $ 25,097 $ 3,210,133 $ 1,399 $ 3,211,532 December 31, 2014 Commercial, financial & agricultural $ 432,892 $ 14,655 $ 15,523 $ 463,070 $ 693 $ 463,763 Real estate: Construction 111,370 — 3,653 115,023 (469 ) 114,554 Mortgage - residential 1,265,470 352 14,267 1,280,089 2,235 1,282,324 Mortgage - commercial 660,492 10,498 33,109 704,099 (826 ) 703,273 Consumer 365,332 294 36 365,662 (518 ) 365,144 Leases 3,140 — — 3,140 — 3,140 Total $ 2,838,696 $ 25,799 $ 66,588 $ 2,931,083 $ 1,115 $ 2,932,198 In accordance with applicable Interagency Guidance issued by our primary bank regulators, we define subprime borrowers as typically having weakened credit histories that include payment delinquencies and possibly more severe problems such as charge-offs, judgments, and bankruptcies. They may also display reduced repayment capacity as measured by credit scores, debt-to-income ratios, or other criteria that may encompass borrowers with incomplete credit histories. Subprime loans are loans to borrowers displaying one or more of these characteristics at the time of origination or purchase. Such loans have a higher risk of default than loans to prime borrowers. At December 31, 2015 and 2014 , we did not have any loans that we considered to be subprime.

ALLOWANCE FOR LOAN AND LEASE LO

ALLOWANCE FOR LOAN AND LEASE LOSSES	12 Months Ended
	Dec. 31, 2015
Receivables [Abstract]
ALLOWANCE FOR LOAN AND LEASE LOSSES	ALLOWANCE FOR LOAN AND LEASE LOSSES The following table presents by class, the activity in the Allowance for the periods indicated: Commercial, Real estate Financial & Construction Mortgage - Mortgage - Consumer Leases Unallocated Total (Dollars in thousands) Year ended December 31, 2015 Beginning balance $ 8,954 $ 14,969 $ 17,927 $ 20,869 $ 7,314 $ 7 $ 4,000 $ 74,040 Provision (credit) for loan and lease losses (1,179 ) (7,395 ) (2,256 ) (4,903 ) 1,956 (34 ) (1,860 ) (15,671 ) 7,775 7,574 15,671 15,966 9,270 (27 ) 2,140 58,369 Charge-offs 5,658 — 110 838 4,650 — — 11,256 Recoveries 4,788 880 2,177 6,719 1,610 27 — 16,201 Net charge-offs (recoveries) 870 (880 ) (2,067 ) (5,881 ) 3,040 (27 ) — (4,945 ) Ending balance $ 6,905 $ 8,454 $ 17,738 $ 21,847 $ 6,230 $ — $ 2,140 $ 63,314 Year ended December 31, 2014 Beginning balance $ 13,196 $ 2,774 $ 25,272 $ 29,947 $ 6,576 $ 55 $ 6,000 $ 83,820 Provision (credit) for loan and lease losses (1,522 ) 10,155 (8,198 ) (8,090 ) 3,289 (48 ) (2,000 ) (6,414 ) 11,674 12,929 17,074 21,857 9,865 7 4,000 77,406 Charge-offs 5,046 — 139 1,041 3,703 8 — 9,937 Recoveries 2,326 2,040 992 53 1,152 8 — 6,571 Net charge-offs (recoveries) 2,720 (2,040 ) (853 ) 988 2,551 — — 3,366 Ending balance $ 8,954 $ 14,969 $ 17,927 $ 20,869 $ 7,314 $ 7 $ 4,000 $ 74,040 Year ended December 31, 2013 Beginning balance $ 4,987 $ 4,510 $ 27,836 $ 50,574 $ 2,421 $ 85 $ 6,000 $ 96,413 Provision (credit) for loan and lease losses 9,634 (4,974 ) (2,588 ) (18,099 ) 5,093 (376 ) — (11,310 ) 14,621 (464 ) 25,248 32,475 7,514 (291 ) 6,000 85,103 Charge-offs 2,812 358 1,083 6,768 1,595 — — 12,616 Recoveries 1,387 3,596 1,107 4,240 657 346 — 11,333 Net charge-offs 1,425 (3,238 ) (24 ) 2,528 938 (346 ) — 1,283 Ending balance $ 13,196 $ 2,774 $ 25,272 $ 29,947 $ 6,576 $ 55 $ 6,000 $ 83,820 In accordance with GAAP, loans held for sale and other real estate assets are not included in our assessment of the Allowance. Changes in the allowance for loan and lease losses for impaired loans (included in the above amounts) were as follows: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Balance, beginning of year $ 1,533 $ 349 $ 3,011 Provision for loan and lease losses 51 1,354 — Other changes (1,533 ) (170 ) (2,662 ) Balance, end of year $ 51 $ 1,533 $ 349 The amounts included in other changes above represent net charge-offs and net transfers of allocated allowances for loans and leases that were not classified as impaired for the entire year. At December 31, 2015 and 2014 , all impaired loans were measured based on the fair value of the underlying collateral for collateral-dependent loans, at the loan’s observable market price, or the net present value of future cash flows, as appropriate. In determining the amount of our Allowance, we rely on an analysis of our loan portfolio, our experience and our evaluation of general economic conditions, as well as regulatory requirements and input. If our assumptions prove to be incorrect, our current Allowance may not be sufficient to cover future loan losses and we may experience significant increases to our Provision.

SECURITIZATIONS

SECURITIZATIONS	12 Months Ended
	Dec. 31, 2015
Transfers and Servicing [Abstract]
SECURITIZATIONS	SECURITIZATIONS In prior years, we securitized certain residential mortgage loans with a U.S. Government sponsored entity and continue to service the residential mortgage loans. The servicing assets were recorded at their respective fair values which equaled par value at the time of securitization. All unsold mortgage-backed securities from prior securitizations were categorized as available for sale securities and were therefore recorded at their fair value of $2.7 million and $3.5 million at December 31, 2015 and 2014 , respectively. The fair values of these mortgage-backed securities were based on quoted prices of similar instruments in active markets. Unrealized gains of $0.2 million and $0.2 million on unsold mortgage-backed securities were recorded in AOCI at December 31, 2015 and 2014 , respectively.

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
PREMISES AND EQUIPMENT	PREMISES AND EQUIPMENT Premises and equipment consisted of the following as of December 31, 2015 and 2014 : December 31, 2015 2014 (Dollars in thousands) Land $ 9,006 $ 9,006 Office buildings and improvements 100,892 98,081 Furniture, fixtures and equipment 30,963 36,916 Gross premises and equipment 140,861 144,003 Accumulated depreciation and amortization (91,700 ) (94,789 ) Net premises and equipment $ 49,161 $ 49,214 Depreciation and amortization of premises and equipment were charged to the following operating expenses: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Net occupancy $ 3,997 $ 3,845 $ 3,702 Equipment 1,873 1,997 2,305 Total $ 5,870 $ 5,842 $ 6,007

OTHER INTANGIBLE ASSETS

OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
OTHER INTANGIBLE ASSETS	OTHER INTANGIBLE ASSETS Other intangible assets include a core deposit premium and mortgage servicing rights. The following table presents changes in other intangible assets for the periods presented: Core Mortgage Total (Dollars in thousands) Balance as of December 31, 2013 $ 12,704 $ 20,079 $ 32,783 Additions — 2,246 2,246 Amortization (2,675 ) (2,657 ) (5,332 ) Balance as of December 31, 2014 $ 10,029 $ 19,668 $ 29,697 Additions — 2,314 2,314 Amortization (2,674 ) (4,185 ) (6,859 ) Balance as of December 31, 2015 $ 7,355 $ 17,797 $ 25,152 The gross carrying value, accumulated amortization and net carrying value related to our other intangible assets are presented below: December 31, 2015 December 31, 2014 Gross Accumulated Net Gross Accumulated Net (Dollars in thousands) Core deposit premium $ 44,642 $ (37,287 ) $ 7,355 $ 44,642 $ (34,613 ) $ 10,029 Mortgage servicing rights 59,001 (41,204 ) 17,797 56,687 (37,019 ) 19,668 Total $ 103,643 $ (78,491 ) $ 25,152 $ 101,329 $ (71,632 ) $ 29,697 Based on our other intangible assets held as of December 31, 2015 , estimated amortization expense for the next five succeeding fiscal years and all years thereafter are as follows: Estimated Amortization Expense Core Deposit Mortgage Total (Dollars in thousands) 2016 $ 2,674 $ 2,393 $ 5,067 2017 2,674 1,720 4,394 2018 2,007 1,265 3,272 2019 — 878 878 2020 — 584 584 Thereafter — 10,957 10,957 Total $ 7,355 $ 17,797 $ 25,152 At December 31, 2015 , there were no events or changes in circumstances that would indicate that the assets assigned to our Banking Operations segment, which includes the entire core deposit premium, were not recoverable. We utilize the amortization method to measure our mortgage servicing rights. Under the amortization method, we amortize our mortgage servicing rights in proportion to and over the period of net servicing income. Income generated as the result of new mortgage servicing rights is reported as gains on sales of loans and totaled $2.3 million , $2.2 million , and $2.7 million in 2015 , 2014 and 2013 , respectively. Amortization of the servicing rights is reported as amortization of other intangible assets in our consolidated statements of income. Ancillary income is recorded in other income. Mortgage servicing rights are recorded when loans are sold to third-parties with servicing of those loans retained and we classify our entire mortgage servicing rights into one class. Initial fair value of the servicing right is calculated by a discounted cash flow model prepared by a third party service provider based on market value assumptions at the time of origination and we assess the servicing right for impairment using current market value assumptions at each reporting period. Critical assumptions used in the discounted cash flow model include mortgage prepayment speeds, discount rates, costs to service and ancillary income. Variations in our assumptions could materially affect the estimated fair values. Changes to our assumptions are made when current trends and market data indicate that new trends have developed. Current market value assumptions based on loan product types (fixed rate, adjustable rate and balloon loans) include average discount rates, servicing costs and ancillary income. Many of these assumptions are subjective and require a high level of management judgment. Our mortgage servicing rights portfolio and valuation assumptions are periodically reviewed by management. Prepayment speeds may be affected by economic factors such as home price appreciation, market interest rates, the availability of other credit products to our borrowers and customer payment patterns. Prepayment speeds include the impact of all borrower prepayments, including full payoffs, additional principal payments and the impact of loans paid off due to foreclosure liquidations. As market interest rates decline, prepayment speeds will generally increase as customers refinance existing mortgages under more favorable interest rate terms. As prepayment speeds increase, anticipated cash flows will generally decline resulting in a potential reduction, or impairment, to the fair value of the capitalized mortgage servicing rights. Alternatively, an increase in market interest rates may cause a decrease in prepayment speeds and therefore an increase in fair value of mortgage servicing rights. The following table presents the fair market value and key assumptions used in determining the fair market value of our mortgage servicing rights: Year Ended December 31, 2015 2014 (Dollars in thousands) Fair market value, beginning of period $ 19,975 $ 21,399 Fair market value, end of period 18,345 19,975 Weighted average discount rate 9.5 % 9.5 % Weighted average prepayment speed assumption 14.3 % 13.2 % Fair values at December 31, 2015 and 2014 reflected approximately $2.17 billion and $2.36 billion , respectively, in loans serviced for others.

DERIVATIVES

DERIVATIVES	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES We utilize various designated and undesignated derivative financial instruments to reduce our exposure to movements in interest rates including interest rate swaps, interest rate lock commitments and forward sale commitments. We measure all derivatives at fair value on our consolidated balance sheet. At each reporting period, we record the derivative instruments in other assets or other liabilities depending on whether the derivatives are in an asset or liability position. For derivative instruments that are designated as hedging instruments, we record the effective portion of the changes in the fair value of the derivative in AOCI, net of tax, until earnings are affected by the variability of cash flows of the hedged transaction. We immediately recognize the portion of the gain or loss in the fair value of the derivative that represents hedge ineffectiveness in current period earnings. For derivative instruments that are not designated as hedging instruments, changes in the fair value of the derivative are included in current period earnings. Interest Rate Lock and Forward Sale Commitments We enter into interest rate lock commitments on certain mortgage loans that are intended to be sold. To manage interest rate risk on interest rate lock commitments, we also enter into forward loan sale commitments. The interest rate lock and forward loan sale commitments are accounted for as undesignated derivatives and are recorded at their respective fair values in other assets or other liabilities, with changes in fair value recorded in current period earnings. These instruments serve to reduce our exposure to movements in interest rates. At December 31, 2015 , we were a party to interest rate lock and forward sale commitments on $24.0 million and $10.0 million of mortgage loans, respectively. At December 31, 2014 , we were a party to interest rate lock and forward sale commitments on $44.3 million and $23.9 million of mortgage loans, respectively. The following table presents the location of all assets and liabilities associated with our derivative instruments within the consolidated balance sheet: Asset Derivatives Liability Derivatives Derivatives not designated as Balance Sheet Fair Value at Fair Value at Fair Value at Fair Value at hedging instruments Location December 31, 2015 December 31, 2014 December 31, 2015 December 31, 2014 (Dollars in thousands) Interest rate contracts Other assets / other liabilities $ 68 $ 504 $ 9 $ 122 The following tables present the impact of derivative instruments and their location within the consolidated statements of income: Derivatives not in Cash Flow Location of Gain Recognized Amount of Gain (Loss) Recognized (Dollars in thousands) Year ended December 31, 2015 Interest rate contracts Other operating income $ (324 ) Year ended December 31, 2014 Interest rate contracts Other operating income 294

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2015
Deposits [Abstract]
DEPOSITS	DEPOSITS Time deposits of $100,000 or more totaled $851.3 million and $804.2 million at December 31, 2015 and 2014 , respectively. Interest expense on certificates of deposits of $100,000 or more totaled $1.5 million , $1.4 million , and $1.5 million for the years ended December 31, 2015 , 2014 and 2013 , respectively. Maturities of time deposits of $100,000 or more as of December 31, 2015 were as follows (in thousands): December 31, 2015 (Dollars in thousands) Three months or less $ 489,641 Over three through six months 238,248 Over six through twelve months 79,869 2017 18,546 2018 12,595 2019 7,657 2020 4,705 Thereafter — Total $ 851,261 At December 31, 2015 and 2014 , overdrawn deposit accounts totaling $0.5 million and $0.7 million have been reclassified as loans on the consolidated balance sheets.

SHORT-TERM BORROWINGS

SHORT-TERM BORROWINGS	12 Months Ended
	Dec. 31, 2015
Short-term Debt [Abstract]
SHORT-TERM BORROWINGS	SHORT-TERM BORROWINGS The bank was a member of the Federal Home Loan Bank of Seattle until its merger with the Federal Home Loan Bank of Des Moines on June 1, 2015. We are now a member of the Federal Home Loan Bank of Des Moines (the "FHLB") and maintained a $1.22 billion line of credit, of which $1.15 billion remained available as of December 31, 2015 . At December 31, 2015 , short-term borrowings under this arrangement totaled $69.0 million . At December 31, 2014 , short-term borrowings under this arrangement totaled $38.0 million . At December 31, 2015 and 2014 , our bank had additional unused borrowings available at the Federal Reserve discount window of $40.8 million and $33.3 million , respectively. As of December 31, 2015 and 2014 , certain commercial real estate and commercial loans with a carrying value totaling $87.3 million and $72.9 million , respectively, were pledged as collateral on our line of credit with the Federal Reserve discount window. The Federal Reserve does not have the right to sell or repledge these loans. Interest expense on short-term borrowings were $0.3 million , $0.1 million and $6 thousand in 2015 , 2014 and 2013 , respectively. A summary of our short-term borrowings as of December 31, 2015 , 2014 and 2013 is as follows: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Amount outstanding at December 31 $ 69,000 $ 38,000 $ 8,015 Average amount outstanding during year 92,045 31,732 1,988 Highest month-end balance during year 157,000 102,000 28,000 Weighted average interest rate on balances outstanding at December 31 0.35 % 0.25 % 0.23 % Weighted average interest rate during year 0.28 % 0.29 % 0.32 %

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2015
Long-term Debt, Unclassified [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt, which is based on original maturity, consisted of the following at December 31, 2015 and 2014 : December 31, 2015 2014 (Dollars in thousands) Subordinated debentures 92,785 92,785 $ 92,785 $ 92,785 FHLB Advances There were no FHLB long-term Advances outstanding as of December 31, 2015 and 2014 . At December 31, 2015 , our bank had FHLB advances available of approximately $1.15 billion , which was secured by unencumbered investment securities with a fair value of $0.5 million and certain real estate loans with a carrying value of $1.60 billion in accordance with the collateral provisions of the Advances, Pledge and Security Agreement with the FHLB. There was no interest expense on long-term FHLB advances in 2015 , compared to less than $1 thousand and $2 thousand in 2014 and 2013 , respectively. Subordinated Debentures In October 2003, we created two wholly-owned statutory trusts, CPB Capital Trust II (“Trust II”) and CPB Statutory Trust III (“Trust III”). Trust II issued $20.0 million in trust preferred securities bearing an interest rate of three-month LIBOR plus 2.85% and maturing on October 7, 2033. The principal assets of Trust II are $20.6 million of the Company’s subordinated debentures with an identical interest rate and maturity as the Trust II trust preferred securities. Trust II issued $0.6 million of common securities to the Company. Trust III issued $20.0 million in trust preferred securities bearing an interest rate of three-month LIBOR plus 2.85% and maturing on December 17, 2033. The principal assets of Trust III are $20.6 million of the Company’s subordinated debentures with an identical interest rate and maturity as the Trust III trust preferred securities. Trust III issued $0.6 million of common securities to the Company. In September 2004, we created a wholly-owned statutory trust, CPB Capital Trust IV (“Trust IV”). Trust IV issued $30.0 million in trust preferred securities bearing an interest rate of three-month LIBOR plus 2.45% and maturing on December 15, 2034. The principal assets of Trust IV are $30.9 million of the Company’s subordinated debentures with an identical interest rate and maturity as the Trust IV trust preferred securities. Trust IV issued $0.9 million of common securities to the Company. In December 2004, we created a wholly-owned statutory trust, CPB Statutory Trust V (“Trust V”). Trust V issued $20.0 million in trust preferred securities bearing an interest rate of three-month LIBOR plus 1.87% and maturing on December 15, 2034. The principal assets of Trust V are $20.6 million of the Company’s subordinated debentures with an identical interest rate and maturity as the Trust V trust preferred securities. Trust V issued $0.6 million of common securities to the Company. The trust preferred securities, the subordinated debentures that are the assets of Trusts II, III, IV and V and the common securities issued by Trusts II, III, IV and V are redeemable in whole or in part on any interest payment date on or after October 7, 2008 for Trusts II and III, and on or after December 15, 2009 for Trust IV and V, or at any time in whole but not in part within 90 days following the occurrence of certain events. Our obligations with respect to the issuance of the trust preferred securities constitute a full and unconditional guarantee by the Company of each trust’s obligations with respect to its trust preferred securities. Subject to certain exceptions and limitations, we may elect from time to time to defer interest payments on the subordinated debentures, which would result in a deferral of distribution payments on the related trust preferred securities, for up to 20 consecutive quarterly periods without default or penalty. On August 20, 2009, we began deferring regularly scheduled interest payments on our outstanding junior subordinated debentures relating to our trust preferred securities. The terms of the junior subordinated debentures and the trust documents allow us to defer payments of interest for up to 20 consecutive quarterly periods without default or penalty. In March 2013, the Company paid all deferred interest on its subordinated debentures and related dividend payments on its trust preferred securities and resumed quarterly payments for each outstanding trust. As a result, deferred accrued interest totaling $13.0 million was paid in full. At December 31, 2015 , future principal payments on long-term debt based on final maturity are as follows (in thousands): December 31, 2015 (Dollars in thousands) Year ending December 31: 2016 $ — 2017 — 2018 — 2019 — 2020 — Thereafter 92,785 Total $ 92,785

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
EQUITY	EQUITY We have generated considerable tax benefits, including net operating loss carry-forwards and federal and state tax credits. Our use of the tax benefits in the future would have been limited if we had experienced an “ownership change” for U.S. federal income tax purposes. In general, an “ownership change” would have occurred if there was a cumulative increase in the Company’s ownership by “ 5 -percent shareholders” (as defined under U.S. income tax laws) that exceeded 50 percentage points over a rolling three-year period. On November 23, 2010, our board declared a dividend of preferred share purchase rights (“Rights”) in respect to our common stock which were issued pursuant to a Tax Benefits Preservation Plan, dated as of November 23, 2010 (the “Tax Benefits Preservation Plan”), between the Company and Wells Fargo Bank, National Association, as rights agent. Each Right represents the right to purchase, upon the terms and subject to the conditions in the Plan, 1/10,000th of a share of our Junior Participating Preferred Stock, Series C, no par value, for $6.00 , subject to adjustment. The Tax Benefits Preservation Plan is designed to reduce the likelihood that the Company will experience an ownership change by discouraging any person from becoming a beneficial owner of 4.99% or more of our common stock (a “Threshold Holder”). Adoption of the Tax Benefits Preservation Plan was required by our agreements with the Lead Investors. On January 29, 2014, our Board of Directors approved an amendment to the Tax Benefits Preservation Plan to extend it for up to an additional 2 years (until February 18, 2016). Subsequently, our Board of Directors determined in January 2016 that it was no longer necessary to continue the Tax Benefits Preservation Plan because we have utilized a significant portion of our tax benefits and we expect to be able to utilize the remaining benefits even if an ownership change occurs. As a result, our Tax Benefits Preservation Plan expired in accordance with its terms on February 18, 2016. To further protect our tax benefits, on January 26, 2011, our Board approved an amendment to our restated articles of incorporation to restrict transfers of our stock if the effect of an attempted transfer would cause the transferee to become a Threshold Holder or to cause the beneficial ownership of a Threshold Holder to increase (the “Protective Charter Amendment”). At our annual meeting of shareholders on April 27, 2011, we proposed the amendment which shareholders approved. On January 29, 2014, our Board of Directors approved an amendment to the Protective Charter Amendment to extend it for up to an additional two years (until May 2, 2016). Our shareholders approved the Protective Charter Amendment on April 25, 2014. Our Board of Directors has determined to let the Protective Charter Amendment naturally expire in accordance with its terms on May 2, 2016 because we have utilized a significant portion of our tax benefits and we expect to be able to utilize the remaining benefits even if an ownership change occurs. As a Hawaii state-chartered bank, Central Pacific Bank may only pay dividends to the extent it has retained earnings as defined under Hawaii banking law (“Statutory Retained Earnings”), which differs from GAAP retained earnings. As of December 31, 2015 , the bank had Statutory Retained Earnings of $63.7 million . Dividends are payable at the discretion of the Board of Directors and there can be no assurance that the Board of Directors will continue to pay dividends at the same rate, or at all, in the future. Our ability to pay cash dividends to our shareholders is subject to restrictions under federal and Hawaii law, including restrictions imposed by the FRB and covenants set forth in various agreements we are a party to, including covenants set forth in our subordinated debentures. On February 21, 2014, we announced a tender offer to purchase for cash up to $68.8 million in value of shares of our common stock at a price not greater than $21.00 nor less than $18.50 per share (the “Tender Offer”). The Tender Offer expired on March 21, 2014 and 3,369,850 shares of our common stock were properly tendered and not withdrawn at or below the purchase price of $20.20 per share (“Purchase Price”). In addition, 167,572 shares were tendered through notice of guaranteed delivery at or below the Purchase Price. Based on these results, we accepted for purchase 3,405,888 shares, at the Purchase Price for a total cost of $68.8 million , excluding fees and expenses related to the Tender Offer. The Tender Offer closed on March 28, 2014. Due to the oversubscription of the Tender Offer, we accepted for purchase on a pro rata basis approximately 96.6% of the shares properly tendered and not properly withdrawn at or below the Purchase Price by each tendering shareholder, except for tenders of odd lots, which were accepted in full, and except for certain conditional tenders automatically regarded as withdrawn pursuant to the terms of the Tender Offer. On February 20, 2014, we also entered into repurchase agreements (the “Repurchase Agreements”) with each of Carlyle Financial Services Harbor, L.P. (“Carlyle”) and ACMO-CPF, L.L.C. (“Anchorage” and together with Carlyle, the “Lead Investors”), each of whom was the owner of 9,463,095 shares (representing 22.5% of the outstanding shares or 44.9% in the aggregate at that time) of our common stock, pursuant to which we agreed to purchase up to $28.1 million of shares of common stock from each of the Lead Investors at the Purchase Price of the Tender Offer (the “Private Repurchases”) (or an aggregate of $56.2 million of shares). Conditions to the Private Repurchases were satisfied and we purchased 1,391,089 shares from each of Carlyle and Anchorage at the Purchase Price for a total cost of $56.2 million , excluding fees and expenses related to the Private Repurchases. The Private Repurchases closed on April 7, 2014, the eleventh business day following the expiration of the Tender Offer. The completion of the Tender Offer and the Private Repurchases resulted in the aggregate repurchase by us of 6,188,066 shares totaling $125 million , or 14.7% of our issued and outstanding shares of our common stock prior to the completion of the Tender Offer and the Private Repurchases. Upon completion of the Tender Offer and Private Repurchases, we had approximately 35.9 million shares outstanding. On March 26, 2015, the Company, Carlyle and Anchorage (together the “Selling Shareholders”), and Citigroup Global Markets, Inc. (the “Underwriter”) entered into a secondary offering underwriting agreement (the “March 2015 Underwriting Agreement”) pursuant to which the Selling Shareholders agreed to each sell 3,802,694 shares for a total of 7,605,388 shares of CPF common stock, no par value per share, to the Underwriter at a price of $23.01 per common share for a total of approximately $175.0 million . In connection with the March 2015 Underwriting Agreement, the Company repurchased 3,259,452 shares of its common stock from the Underwriter at a price of $23.01 per share for an aggregate cost of approximately $75.0 million , excluding fees and expenses. The transactions were consummated on April 1, 2015. The Company did not receive any of the proceeds from the sale of these shares by the Selling Shareholders and no shares were sold by the Company. The Company incurred $0.4 million in costs recorded in other operating expenses related to the secondary offering by the Selling Shareholders. In addition, the Company incurred $0.2 million in costs recorded in equity related to the repurchase of its common stock from the Underwriter. On June 4, 2015, the Company, the Selling Shareholders, and the Underwriter entered into another secondary offering underwriting agreement (the “June 2015 Underwriting Agreement”) pursuant to which the Selling Shareholders agreed to each sell 1,500,000 shares for a total of 3,000,000 shares of CPF common stock, no par value per share, to the Underwriter at a price of $22.15 per common share for a total of approximately $66.5 million . The Company did not receive any of the proceeds from the sale of these shares by the Selling Shareholders and no shares were sold by the Company. In the second quarter of 2015, the Company accrued $0.3 million of costs recorded in other operating expenses related to the secondary offering by the Selling Shareholders. On August 3, 2015, the Company, the Selling Shareholders, and the Underwriter and UBS Investment Bank ("UBS") entered into a final underwriting agreement (the “August 2015 Underwriting Agreement”) pursuant to which the Selling Shareholders sold their aggregate remaining interest in the Company of 5,538,624 shares of CPF common stock, no par value per share, to the Underwriter and UBS at a price of $22.11 per common share for a total of approximately $122.5 million . The Company did not receive any of the proceeds from the sale of these shares by the Selling Shareholders and no shares were sold by the Company. On May 20, 2014, our Board of Directors authorized the repurchase and retirement of up to $30.0 million of the Company’s outstanding common stock (the “CPF Repurchase Plan”). Repurchases under the CPF Repurchase Plan may be made from time to time on the open market or in privately negotiated transactions. In 2014, 857,554 shares of common stock, at a cost of $16.5 million , were repurchased under this program. In January 2015, our Board of Directors increased the authorization under the CPF Repurchase Plan by $25.0 million . In March 2015, our Board of Directors increased the authorization under the CPF Repurchase Plan by an additional $75.0 million in connection with the March 2015 Underwriting Agreement. In the year ended December 31, 2015 , an additional 4,122,881 shares of common stock, at a cost of $93.3 million , excluding fees and expenses, were repurchased under this program. A total of $20.2 million remained available for repurchase under the CPF Repurchase Plan at December 31, 2015 .

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION In accordance with ASC 718, compensation expense is recognized only for those shares expected to vest, based on the Company’s historical experience and future expectations. The following table summarizes the effects of share-based compensation to options and awards granted under the Company’s equity incentive plans for each of the periods presented: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Salaries and employee benefits $ 4,181 $ 6,101 $ 6,367 Directors stock awards 78 37 45 Income tax benefit (1,694 ) (2,443 ) (2,570 ) Net share-based compensation effect $ 2,565 $ 3,695 $ 3,842 The Company’s share-based compensation arrangements are described below: Equity Incentive Plans We have adopted equity incentive plans for the purpose of granting options, restricted stock and other equity based awards for the Company’s common stock to directors, officers and other key individuals. Option awards are generally granted with an exercise price equal to the market price of the Company’s common stock at the date of grant; those option awards generally vest based on three or five years of continuous service and have 10 -year contractual terms. Certain option and share awards provide for accelerated vesting if there is a change in control (as defined in the stock option plans below). We have historically issued new shares of common stock upon exercises of stock options and purchases of restricted awards. In February 1997, we adopted the 1997 Stock Option Plan (“1997 Plan”) basically as a continuance of the 1986 Stock Option Plan. In April 1997, our shareholders approved the 1997 Plan, which provided 2,000,000 shares of the Company’s common stock for grants to employees as qualified incentive stock options and to directors as nonqualified stock options. On January 1, 2013, the last options issued under the 1997 Plan expired. In September 2004, we adopted and our shareholders approved the 2004 Stock Compensation Plan (“2004 Plan”) making available 1,500,000 shares for grants to employees and directors. Upon adoption of the 2004 Plan, all unissued shares from the 1997 Plan were frozen and no new options were granted under the 1997 Plan. In May 2007, the 2004 Plan was amended to increase the number of shares available for grant by an additional 1,000,000 shares. In April 2011, the 2004 Plan was amended to increase the number of shares authorized from 1,402,589 to 4,944,831 . In April 2013, we adopted and our shareholders approved the 2013 Stock Compensation Plan (“2013 Plan”) making available 2,200,000 shares for grants to employees and directors. Upon adoption of the 2013 Plan, all unissued shares from the 2004 Plan were frozen and no new grants will be granted under the 2004 Plan. Shares may continue to be settled under the 2004 Plan pursuant to previously outstanding awards. New shares are issued from the 2013 Plan. At December 31, 2015 , 2014 and 2013 , a total of 1,922,130 , 1,993,385 and 2,185,454 shares, respectively, were available for future grants. Stock Options The fair value of each option award is estimated on the date of grant based on the following: Valuation and amortization method— We estimate the fair value of stock options granted using the Black-Scholes option pricing formula and a single option award approach. We use historical data to estimate option exercise and employee termination activity within the valuation model; separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. This fair value is then amortized on a straight-line basis over the requisite service periods of the awards, which is generally the vesting period. Expected life— The expected life of options represents the period of time that options granted are expected to be outstanding. Expected volatility— Expected volatilities are based on the historical volatility of the Company’s common stock. Risk-free interest rate— The risk-free interest rate for periods within the contractual life of the option is based on the Treasury yield curve in effect at the time of grant. Expected dividend— The expected dividend assumption is based on our current expectations about our anticipated dividend policy. The following is a summary of option activity for our stock option plans for the year ended December 31, 2015 : Shares Weighted Weighted Average Remaining Contractual Term (in years) Aggregate Outstanding at January 1, 2015 286,407 $ 33.32 Changes during the year: Exercised (25,040 ) 14.37 Expired (4,177 ) 730.00 Forfeited (17,773 ) 48.60 Outstanding at December 31, 2015 239,417 22.01 6.2 $ 1,778 Exercisable at December 31, 2015 163,109 25.61 6.2 1,192 The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying option awards and the quoted price of the Company’s common stock for the options that were in-the-money at December 31, 2015 . During the years ended December 31, 2015 , 2014 and 2013 , the aggregate intrinsic value of options exercised under our stock option plan was $0.2 million , $31 thousand and $22 thousand , respectively, determined as of the date of exercise. As of December 31, 2015 , the total compensation cost that was not yet recognized related to stock options granted to employees under our stock option plans was approximately $0.5 million , net of estimated forfeitures. This cost will be amortized on a straight-line basis over a weighted-average period of 1.3 years and will be adjusted for subsequent changes in estimated forfeitures. The total fair value of shares vested during the years ended December 31, 2015 , 2014 and 2013 was $0.4 million , $0.7 million and $0.7 million , respectively. No stock options were granted during 2015 , 2014 and 2013 . Restricted Stock Awards and Units Under the 1997, 2004 and 2013 Plans, we awarded restricted stock awards and units to our non-officer directors and certain senior management personnel. The awards typically vest over a three or five year period. Compensation expense is measured as the market price of the stock awards on the grant date, and is recognized over the specified vesting periods. The table below presents the activity of restricted stock awards and units for the year ended December 31, 2015 : Shares Weighted Unvested at January 1, 2015 715,460 $ 15.77 Changes during the year: Granted 173,897 19.50 Forfeited (82,373 ) 16.73 Vested (343,067 ) 15.21 Unvested at December 31, 2015 463,917 17.41 As of December 31, 2015 , there was $4.1 million of total unrecognized compensation cost related to restricted stock awards and units that is expected to be recognized over a weighted-average period of 2.25 years.

PENSION PLANS

PENSION PLANS	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
PENSION PLANS	PENSION PLANS Defined Benefit Retirement Plan The bank has a defined benefit retirement plan that covered substantially all of its employees who were employed during the period that the plan was in effect. The plan was initially curtailed in 1986, and accordingly, plan benefits were fixed as of that date. Effective January 1, 1991, the bank reactivated its defined benefit retirement plan. As a result of the reactivation, employees for whom benefits were fixed in 1986 began to accrue additional benefits under a new formula that became effective January 1, 1991. Employees who were not participants at curtailment, but who were subsequently eligible to join, became participants effective January 1, 1991. Under the reactivated plan, benefits are based upon the employees’ years of service and their highest average annual salaries in a 60 -consecutive-month period of service, reduced by benefits provided from the bank’s terminated money purchase pension plan. The reactivation of the defined benefit retirement plan resulted in an increase of $5.9 million in the unrecognized prior service cost, which was amortized over a period of 13 years. Effective December 31, 2002, the bank curtailed its defined benefit retirement plan, and accordingly, plan benefits were fixed as of that date. The following tables set forth information pertaining to the defined benefit retirement plan: Year Ended December 31, 2015 2014 (Dollars in thousands) Change in benefit obligation Benefit obligation at beginning of year $ 36,330 $ 32,183 Interest cost 1,383 1,485 Actuarial (gains) losses (2,228 ) 5,709 Benefits paid (2,418 ) (3,047 ) Benefit obligation at end of the year 33,067 36,330 Change in plan assets Fair value of plan assets at beginning of year 27,891 27,782 Actual return on plan assets (152 ) 1,813 Employer contributions 1,000 1,343 Benefits paid (2,418 ) (3,047 ) Fair value of plan assets at end of year 26,321 27,891 Funded status at end of year $ (6,746 ) $ (8,439 ) Amounts recognized in AOCI Net actuarial losses $ (13,887 ) $ (15,647 ) Benefit obligation actuarial assumptions Weighted average discount rate 4.3 % 4.0 % Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Components of net periodic benefit cost Interest cost $ 1,383 $ 1,485 $ 1,370 Expected return on plan assets (1,893 ) (1,924 ) (1,762 ) Amortization of net actuarial losses 1,577 1,068 2,390 Net periodic benefit cost $ 1,067 $ 629 $ 1,998 Net periodic cost actuarial assumptions Weighted average discount rate 4.0 % 4.7 % 4.0 % Expected long-term rate of return on plan assets 7.0 % 7.0 % 7.5 % The unrecognized net actuarial losses included in AOCI expected to be recognized in net periodic benefit cost during 2016 is approximately $1.4 million . The long-term rate of return on plan assets reflects the weighted-average long-term rates of return for the various categories of investments held in the plan. The expected long-term rate of return is adjusted when there are fundamental changes in expected returns on the plan investments. The defined benefit retirement plan assets consist primarily of equity and debt securities. Our asset allocations by asset category were as follows: December 31, 2015 2014 Equity securities 40.6 % 56.1 % Debt securities 41.6 41.8 Other 17.8 2.1 Total 100.0 % 100.0 % Equity securities included the Company’s common stock in the amount of $0.1 million at December 31, 2015 and 2014 . Our investment strategy for the defined benefit retirement plan is to maximize the long-term rate of return on plan assets while maintaining an acceptable level of risk. The investment policy establishes a target allocation for each asset class that is reviewed periodically and rebalanced when considered appropriate. The fair values of the defined benefit retirement plan as of December 31, 2015 and 2014 by asset category were as follows: Level 1 Level 2 Level 3 Total (Dollars in thousands) December 31, 2015 Money market accounts $ 4,672 $ — $ — $ 4,672 Mutual funds 9,140 — — 9,140 Government obligations — 4,117 — 4,117 Common stocks 5,552 — — 5,552 Preferred stocks 187 — — 187 Corporate bonds and debentures — 2,653 — 2,653 $ 19,551 $ 6,770 $ — $ 26,321 December 31, 2014 Money market accounts $ 958 $ — $ — $ 958 Mutual funds 9,946 — — 9,946 Government obligations — 3,900 — 3,900 Common stocks 9,765 — — 9,765 Preferred stocks 250 — — 250 Corporate bonds and debentures — 3,072 — 3,072 $ 20,919 $ 6,972 $ — $ 27,891 We do not expect to make any contributions to our defined benefit retirement plan in 2016 . Estimated future benefit payments are as follows (in thousands): Year Ending December 31: 2016 $ 2,531 2017 2,494 2018 2,479 2019 2,435 2020 2,390 2021-2025 11,131 Total $ 23,460 Supplemental Executive Retirement Plans In 1995, 2001, 2004 and 2006, our bank established Supplemental Executive Retirement Plans (“SERP”) that provide certain officers of the Company with supplemental retirement benefits. On December 31, 2002, the 1995 and 2001 SERP were curtailed. In conjunction with the merger with CB Bancshares, Inc. (“CBBI”), we assumed CBBI’s SERP obligation. The following tables set forth information pertaining to the SERP: Year Ended December 31, 2015 2014 (Dollars in thousands) Change in benefit obligation Benefit obligation at beginning of year $ 10,930 $ 9,107 Interest cost 440 450 Actuarial (gains) losses (504 ) 1,588 Benefits paid (215 ) (215 ) Benefit obligation at end of year 10,651 10,930 Change in plan assets Fair value of plan assets at beginning of year — — Employer contributions 215 215 Benefits paid (215 ) (215 ) Fair value of plan assets at end of year — — Funded status at end of year $ 10,651 $ 10,930 Amounts recognized in AOCI Net transition obligation $ (129 ) $ (147 ) Prior service cost (84 ) (101 ) Net actuarial losses (1,353 ) (1,965 ) Total amounts recognized in AOCI $ (1,566 ) $ (2,213 ) Benefit obligation actuarial assumptions Weighted average discount rate 4.4 % 4.1 % Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Components of net periodic benefit cost Interest cost $ 440 $ 450 $ 411 Amortization of net transition obligation 16 17 17 Amortization of prior service cost 18 18 18 Amortization of net actuarial (gains) losses 111 2 71 Net periodic benefit cost $ 585 $ 487 $ 517 Net periodic cost actuarial assumptions Weighted average discount rate 4.1 % 5.0 % 4.2 % The estimated amortization of components included in AOCI that will be recognized into net periodic cost for 2016 is as follows (in thousands): Amortization of net transition obligation $ 17 Amortization of prior service cost 18 Amortization of net actuarial losses 111 The SERP holds no plan assets other than employer contributions that are paid as benefits during the year. We expect to contribute $0.2 million to the SERP in 2016 . Estimated future benefit payments reflecting expected future service for the SERP are as follows (in thousands): Year Ending December 31: 2016 $ 232 2017 423 2018 419 2019 415 2020 407 2021-2025 3,116 Total $ 5,012

401(K) RETIREMENT SAVINGS PLAN

401(K) RETIREMENT SAVINGS PLAN	12 Months Ended
	Dec. 31, 2015
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
401(K) RETIREMENT SAVINGS PLAN	401(K) RETIREMENT SAVINGS PLAN We maintain a 401(k) Retirement Savings Plan (“Retirement Savings Plan”) that covers substantially all employees of the Company. The Retirement Savings Plan allows employees to direct their own investments among a selection of investment alternatives and is funded by employee elective deferrals, employer matching contributions and employer profit sharing contributions. We match 100% of an employee’s elective deferrals, up to 4% of the employee’s pay each pay period. Our employer matching contributions to the Retirement Savings Plan totaled $1.6 million , $1.5 million and $1.7 million in 2015 , 2014 and 2013 , respectively. We also have the option of making discretionary profit sharing contributions into the Retirement Savings Plan. Our Board of Directors has sole discretion in determining the annual profit sharing contribution, subject to limitations of the Internal Revenue Code. We did not make any profit sharing contributions in 2015 , 2014 and 2013 .

OPERATING LEASES

OPERATING LEASES	12 Months Ended
	Dec. 31, 2015
Leases, Operating [Abstract]
OPERATING LEASES	OPERATING LEASES We lease certain properties and equipment with lease terms expiring through 2045 . In most instances, the property leases provide for the renegotiation of rental terms at fixed intervals, and generally contain renewal options for periods ranging from five to 15 years. Net rent expense for all operating leases for the years ended December 31, 2015 , 2014 and 2013 is summarized as follows: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Rent expense charged to net occupancy $ 9,287 $ 10,210 $ 9,840 Less sublease income (25 ) — (52 ) Net rent expense charged to net occupancy 9,262 10,210 9,788 Rent expense charged to equipment expense 30 53 93 Total net rent expense $ 9,292 $ 10,263 $ 9,881 The following is a schedule of future minimum rental commitments for all noncancellable operating leases that had initial lease terms in excess of one year at December 31, 2015 (in thousands): Year Ending December 31: 2016 $ 7,317 2017 5,991 2018 4,903 2019 4,095 2020 3,640 Thereafter 23,817 Total $ 49,763 In addition, the Company, as lessor, leases certain properties that it owns. The following is a schedule of future minimum rental income for those noncancellable operating leases that had initial lease terms in excess of one year at December 31, 2015 (in thousands): Year Ending December 31: 2016 $ 2,602 2017 2,063 2018 1,170 2019 559 2020 248 Thereafter 421 Total $ 7,063 In instances where the lease calls for a renegotiation of rental payments, the lease rental payment in effect prior to renegotiation was used throughout the remaining lease term.

INCOME AND FRANCHISE TAXES

INCOME AND FRANCHISE TAXES	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
INCOME AND FRANCHISE TAXES	INCOME AND FRANCHISE TAXES Components of income tax expense (benefit) for the years ended December 31, 2015 , 2014 and 2013 were as follows: Current Deferred Total (Dollars in thousands) Year ended December 31, 2015 Federal $ 1,128 $ 20,061 $ 21,189 State (119 ) 6,018 5,899 Total $ 1,009 $ 26,079 $ 27,088 Year ended December 31, 2014 Federal $ — $ 18,710 $ 18,710 State (93 ) 1,772 1,679 Total $ (93 ) $ 20,482 $ 20,389 Year ended December 31, 2013 Federal $ — $ (81,613 ) $ (81,613 ) State (109 ) (30,525 ) (30,634 ) Total $ (109 ) $ (112,138 ) $ (112,247 ) Income tax expense (benefit) for the periods presented differed from the “expected” tax expense (computed by applying the U.S. Federal corporate tax rate of 35% to income (loss) before income taxes) for the following reasons: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Computed “expected” tax expense (benefit) $ 25,535 $ 21,295 $ 20,940 Increase (decrease) in taxes resulting from: Tax-exempt interest (1,420 ) (1,412 ) (1,431 ) Other tax-exempt income (712 ) (1,023 ) (810 ) Low-income housing and energy tax credits (1,225 ) (2,088 ) (1,557 ) State income taxes, net of Federal income tax effect, excluding impact of deferred tax valuation allowance 3,958 2,638 2,389 Change in the beginning-of-the-year balance of the valuation allowance for deferred tax assets allocated to income tax expense (44 ) (180 ) (129,806 ) Other 996 1,159 (1,972 ) Total $ 27,088 $ 20,389 $ (112,247 ) At December 31, 2015 , there was $0.6 million current Federal income taxes receivable, compared to no receivable at December 31, 2014 . Current state income taxes receivable was $1.7 million at December 31, 2015 and 2014 . The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities were as follows: December 31, 2015 2014 (Dollars in thousands) Deferred tax assets Allowance for loan and lease losses $ 22,275 $ 26,052 Accrued expenses 2,555 2,981 Employee retirement benefits 6,921 11,023 Federal and state tax credit carryforwards 34,821 30,593 Interest on nonaccrual loans 606 1,600 Federal and state net operating loss carryforwards 19,850 57,173 Restricted stock and nonqualified stock options 1,049 — Other 9,227 13,357 Total deferred tax assets $ 97,304 $ 142,779 Deferred tax liabilities Intangible assets $ 10,006 $ 11,803 FHLB stock dividends received — 10,742 Leases 423 1,203 Deferred gain on curtailed retirement plan — 3,315 Liability on utilization of state tax credits — 6,237 Other 2,093 2,234 Total deferred tax liabilities $ 12,522 $ 35,534 Deferred tax valuation allowance $ 2,803 $ 2,847 Net deferred tax assets $ 81,979 $ 104,398 In assessing the realizability of our net deferred tax assets ("DTA"), management considers whether it is more likely than not that some portion or all of the DTA will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the reversal of deferred tax liabilities (including the impact of available carryback and carryforward periods), projected future taxable income and tax-planning strategies in making this assessment. In the first quarter of 2013, the Company reversed a significant portion of the valuation allowance that was established against our net DTA during the third quarter of 2009. The valuation allowance was established during 2009 due to uncertainty at the time regarding our ability to generate sufficient future taxable income to fully realize the benefit of our net DTA. The quarter ended March 31, 2013 marked our ninth consecutive quarter of profitability. Based on this earnings performance trend, improvements in our financial condition, asset quality and capital ratios, and the expectation of continued profitability, the Company determined that it was more likely than not that a significant portion of our net DTA would be realized. The net impact of reversing the valuation allowance and recording the provision for income tax expense was a net income tax benefit of $119.8 million in the first quarter of 2013. As of December 31, 2015 , the remaining valuation allowance on our net deferred tax assets totaled $2.8 million , which related to our California state income taxes as we do not expect to generate sufficient income in California to utilize the DTA. The net change in the valuation allowance was a decrease of $44.0 thousand and $3.9 million in 2015 and 2014 , respectively. Net of this valuation allowance, the Company’s net DTA totaled $82.0 million as of December 31, 2015 , compared to a net DTA of $104.4 million as of December 31, 2014 . At December 31, 2015 , the Company had net operating loss carryforwards for Federal income tax purposes of $48.8 million , which are available to offset future Federal taxable income, if any, through 2030. At December 31, 2015 , the Company had net operating loss carryforwards for California state income tax purposes of $39.3 million , which are available to offset future state taxable income, if any, through 2030. The Company did not have any net operating loss carryforwards for Hawaii state income tax purposes. In addition, we have state tax credit carryforwards of $14.8 million that do not expire, and federal tax credit carryforwards of $18.3 million , of which $11.8 million will expire within 20 years, and $6.5 million do not expire. At December 31, 2015 , we have no unrecognized tax benefits that, if recognized would favorably affect the effective income tax rate in future periods. We do not expect our unrecognized tax benefits to change significantly over the next 12 months. We are subject to U.S. Federal income tax as well as income tax of multiple state jurisdictions. Taxable years through 2011 are closed.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table presents the components of other comprehensive income (loss) for the years ended December 31, 2015 , 2014 and 2013 , by component: Before Tax Tax Effect Net of Tax (Dollars in thousands) Year ended December 31, 2015 Net unrealized losses on investment securities: Net unrealized losses arising during the period $ (9,184 ) $ (3,655 ) $ (5,529 ) Less: Reclassification adjustment for losses realized in net income 1,866 742 1,124 Net unrealized losses on investment securities (7,318 ) (2,913 ) (4,405 ) Defined benefit plans: Net actuarial gains arising during the period 687 274 413 Amortization of net actuarial losses 1,688 672 1,016 Amortization of net transition obligation 16 7 9 Amortization of prior service cost 18 7 11 Defined benefit plans, net 2,409 960 1,449 Other comprehensive income $ (4,909 ) $ (1,953 ) $ (2,956 ) Year ended December 31, 2014 Net unrealized gains on investment securities: Net unrealized gains arising during the period $ 36,780 $ 14,714 $ 22,066 Less: Reclassification adjustment for losses realized in net income 1,071 426 645 Net unrealized gains on investment securities 37,851 15,140 22,711 Defined benefit plans: Net actuarial losses arising during the period (7,409 ) (3,052 ) (4,357 ) Amortization of net actuarial losses 1,070 441 629 Amortization of net transition obligation 17 7 10 Amortization of prior service cost 18 7 11 Defined benefit plans, net (6,304 ) (2,597 ) (3,707 ) Other comprehensive income $ 31,547 $ 12,543 $ 19,004 Year ended December 31, 2013 Net unrealized losses on investment securities: Net unrealized losses arising during the period $ (43,687 ) $ (15,577 ) $ (28,110 ) Less: Reclassification adjustment for gains realized in net income (6,266 ) (2,511 ) (3,755 ) Before Tax Tax Effect Net of Tax (Dollars in thousands) Net unrealized losses on investment securities (49,953 ) (18,088 ) (31,865 ) Net unrealized losses on derivatives: Reclassification adjustment for losses realized in net income 394 (10,599 ) 10,993 Net unrealized losses on derivatives 394 (10,599 ) 10,993 Defined benefit plans: Net actuarial gains arising during the period 6,952 2,591 4,361 Amortization of net actuarial losses 2,461 986 1,475 Amortization of net transition obligation 17 7 10 Amortization of prior service cost 18 7 11 Defined benefit plans, net 9,448 3,591 5,857 Other comprehensive loss $ (40,111 ) $ (25,096 ) $ (15,015 ) The following table presents the changes in each component of AOCI, net of tax, for the years ended December 31, 2015 , 2014 and 2013 : Investment Derivatives Defined Accumulated Other Comprehensive Income (Loss) (Dollars in thousands) Year ended December 31, 2015 Balance at beginning of period $ 13,586 $ — $ (10,427 ) $ 3,159 Other comprehensive income (loss) before reclassifications (5,529 ) — 413 (5,116 ) Amounts reclassified from AOCI 1,124 — 1,036 2,160 Total other comprehensive income (loss) (4,405 ) — 1,449 (2,956 ) Balance at end of period $ 9,181 $ — $ (8,978 ) $ 203 Year ended December 31, 2014 Balance at beginning of period $ (9,125 ) $ — $ (6,720 ) $ (15,845 ) Other comprehensive income (loss) before reclassifications 22,066 — (4,357 ) 17,709 Amounts reclassified from AOCI 645 — 650 1,295 Total other comprehensive income (loss) 22,711 — (3,707 ) 19,004 Balance at end of period $ 13,586 $ — $ (10,427 ) $ 3,159 Year ended December 31, 2013 Balance at beginning of period $ 22,740 $ (10,993 ) $ (12,577 ) $ (830 ) Other comprehensive loss before reclassifications (28,110 ) — 4,361 (23,749 ) Amounts reclassified from AOCI (3,755 ) 10,993 1,496 8,734 Total other comprehensive loss (31,865 ) 10,993 5,857 (15,015 ) Balance at end of period $ (9,125 ) $ — $ (6,720 ) $ (15,845 ) The following table presents the amounts reclassified out of each component of AOCI for the years ended December 31, 2015 , 2014 and 2013 : Amount Reclassified from AOCI Affected Line Item in the Details about AOCI Components (Dollars in Thousands) Year ended December 31, Statement Where Net 2015 2014 2013 Income is Presented Sale of investment securities available for sale $ (1,866 ) $ (1,071 ) $ 6,266 Investment securities gains (losses) 742 426 (2,511 ) Tax (expense) benefit $ (1,124 ) $ (645 ) $ 3,755 Net of tax Unrealized gains (losses) on derivatives $ — $ — $ (394 ) Interest income — — (10,599 ) Tax expense $ — $ — $ (10,993 ) Net of tax Amortization of defined benefit plan items Net actuarial losses $ (1,688 ) $ (1,070 ) $ (2,461 ) (1) Net transition obligation (16 ) (17 ) (17 ) (1) Prior service cost (18 ) (18 ) (18 ) (1) (1,722 ) (1,105 ) (2,496 ) Total before tax 686 455 1,000 Tax benefit $ (1,036 ) $ (650 ) $ (1,496 ) Net of tax Total reclassifications for the period $ (2,160 ) $ (1,295 ) $ (8,734 ) Net of tax (1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 15 for additional details).

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The table below presents the information used to compute basic and diluted earnings per share for the years ended December 31, 2015 , 2014 and 2013 : Year Ended December 31, 2015 2014 2013 (In thousands, except per share data) Net income $ 45,868 $ 40,453 $ 172,075 Weighted average shares outstanding - basic 32,238 37,366 41,961 Dilutive effect of employee stock options and awards 413 571 341 Dilutive effect of deferred salary restricted stock units — — 1 Dilutive effect of Treasury warrants — — 14 Weighted average shares outstanding - diluted 32,651 37,937 42,317 Basic earnings per share $ 1.42 $ 1.08 $ 4.10 Diluted earnings per share $ 1.40 $ 1.07 $ 4.07 A total of 8,217 , 13,510 and 24,526 potentially dilutive securities have been excluded from the dilutive share calculation for the year ended December 31, 2015 , 2014 and 2013 , respectively, as their effect was anti-dilutive.

CONTINGENT LIABILITIES AND OTHE

CONTINGENT LIABILITIES AND OTHER COMMITMENTS	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
CONTINGENT LIABILITIES AND OTHER COMMITMENTS	CONTINGENT LIABILITIES AND OTHER COMMITMENTS The Company and its subsidiaries are involved in legal actions arising in the ordinary course of business. Management, after consultation with legal counsel, believes the ultimate disposition of those matters will not have a material adverse effect on our consolidated financial statements. In the normal course of business there are outstanding contingent liabilities and other commitments such as unused letters of credit, items held for collections and unsold traveler’s checks, which are not reflected in the accompanying consolidated financial statements. Management does not anticipate any material losses as a result of these transactions.

FINANCIAL INSTRUMENTS WITH OFF-

FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK	12 Months Ended
	Dec. 31, 2015
Investments, All Other Investments [Abstract]
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK	FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK We are a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of our customers. These financial instruments include commitments to extend credit, standby letters of credit and financial guarantees written, forward foreign exchange contracts, and interest rate contracts. Those instruments involve, to varying degrees, elements of credit, interest rate and foreign exchange risk in excess of the amounts recognized in the consolidated balance sheets. The contract or notional amounts of those instruments reflect the extent of involvement we have in particular classes of financial instruments. Our exposure to credit loss in the event of nonperformance by the counterparty to the financial instrument for commitments to extend credit and standby letters of credit and financial guarantees written is represented by the contractual amount of those instruments. For forward foreign exchange contracts and interest rate contracts, the contract amounts do not represent exposure to credit loss. We control the credit risk of these contracts through credit approvals, limits and monitoring procedures. We use the same credit policies in making commitments and conditional obligations as we do for on-balance sheet instruments. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. We evaluate each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment, and income-producing commercial properties. Standby letters of credit and financial guarantees written are conditional commitments issued by us to guarantee the performance of a customer to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. We hold collateral supporting those commitments for which collateral is deemed necessary. Interest rate options issued on residential mortgage loans expose us to interest rate risk, which is economically hedged with forward interest rate contracts. These derivatives are carried at fair value with changes in fair value recorded as a component of other operating income in the consolidated statements of income. Forward interest rate contracts represent commitments to purchase or sell loans at a future date at a specified price. Risks arise from the possible inability of counter-parties to meet the terms of their contracts and from movements in market rates. Management reviews and approves the creditworthiness of the counterparties to its forward interest rate contracts. Forward foreign exchange contracts represent commitments to purchase or sell foreign currencies at a future date at a specified price. Risks arise from the possible inability of counterparties to meet the terms of their contracts and from movements in foreign currency exchange rates. Management reviews and approves the creditworthiness of its forward foreign exchange counterparties. At December 31, 2015 and 2014 , we did not have any forward foreign exchange contracts. At December 31, 2015 and 2014 , financial instruments with off-balance sheet risk were as follows: December 31, 2015 2014 (Dollars in thousands) Financial instruments whose contract amounts represent credit risk: Commitments to extend credit $ 801,835 $ 720,255 Standby letters of credit and financial guarantees written 13,434 18,797 Financial instruments whose contract amounts exceed the amount of credit risk: Interest rate options 24,009 44,266 Forward interest rate contracts 9,973 23,919

FAIR VALUE OF ASSETS AND LIABIL

FAIR VALUE OF ASSETS AND LIABILITIES	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE OF ASSETS AND LIABILITIES	FAIR VALUE OF ASSETS AND LIABILITIES Disclosures about Fair Value of Financial Instruments Fair value estimates, methods and assumptions are set forth below for our financial instruments. Short-Term Financial Instruments The carrying values of short-term financial instruments are deemed to approximate fair values. Such instruments are considered readily convertible to cash and include cash and due from banks, interest-bearing deposits in other banks, accrued interest receivable, the majority of short-term borrowings and accrued interest payable. Investment Securities The fair value of investment securities is based on market price quotations received from securities dealers. Where quoted market prices are not available, fair values are based on quoted market prices of comparable securities. Loans Fair values of loans are estimated based on discounted cash flows of portfolios of loans with similar financial characteristics including the type of loan, interest terms and repayment history. Fair values are calculated by discounting scheduled cash flows through estimated maturities using estimated market discount rates. Estimated market discount rates are reflective of credit and interest rate risks inherent in the Company’s various loan types and are derived from available market information, as well as specific borrower information. The fair value of loans are not based on the notion of exit price. Loans Held for Sale The fair value of loans classified as held for sale are generally based upon quoted prices for similar assets in active markets, acceptance of firm offer letters with agreed upon purchase prices, discounted cash flow models that take into account market observable assumptions, or independent appraisals of the underlying collateral securing the loans. We report the fair values of Hawaii and U.S. Mainland construction and commercial real estate loans net of applicable selling costs on our consolidated balance sheets. Other Interest-Earning Assets The equity investment in common stock of the FHLB, which is redeemable for cash at par value, is reported at its par value. Deposit Liabilities The fair values of deposits with no stated maturity, such as noninterest-bearing demand deposits and interest-bearing demand and savings accounts, are equal to the amount payable on demand. The fair value of time deposits is estimated using discounted cash flow analyses. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities. Long-Term Debt The fair value of our long-term debt is estimated by discounting scheduled cash flows over the contractual borrowing period at the estimated market rate for similar borrowing arrangements. Off-Balance Sheet Financial Instruments The fair values of off-balance sheet financial instruments are estimated based on the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties, current settlement values or quoted market prices of comparable instruments. For derivative financial instruments, the fair values are based upon current settlement values, if available. If there are no relevant comparables, fair values are based on pricing models using current assumptions for interest rate swaps and options. Limitations Fair value estimates are made at a specific point in time based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time our entire holdings of a particular financial instrument. Because no market exists for a significant portion of our financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on- and off-balance sheet financial instruments without attempting to estimate the value of future business and the value of assets and liabilities that are not considered financial instruments. For example, significant assets and liabilities that are not considered financial assets or liabilities include deferred tax assets, premises and equipment and intangible assets. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in many of the estimates. Fair Value Measurement Using Carrying Estimated Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant (Dollars in thousands) December 31, 2015 Financial assets Cash and due from banks $ 71,797 $ 71,797 $ 71,797 $ — $ — Interest-bearing deposits in other banks 8,397 8,397 8,397 — — Investment securities 1,520,172 1,516,391 916 1,502,996 12,479 Loans held for sale 14,109 14,109 — — 14,109 Net loans and leases 3,148,218 3,094,404 — 38,205 3,056,199 Accrued interest receivable 14,898 14,898 14,898 — — Financial liabilities Deposits: Noninterest-bearing deposits 1,145,244 1,145,244 1,145,244 — — Interest-bearing demand and savings deposits 2,223,988 2,223,988 2,223,988 — — Time deposits 1,064,207 1,064,255 — — 1,064,255 Short-term debt 69,000 69,000 — 69,000 — Long-term debt 92,785 67,421 — 67,421 — Accrued interest payable (included in other liabilities) 1,072 1,072 1,072 — — Off-balance sheet financial instruments Commitments to extend credit 801,835 1,014 — 1,014 — Standby letters of credit and financial guarantees written 13,434 202 — 202 — Interest rate options 24,009 43 — 43 — Forward interest rate contracts 9,973 15 — 15 — December 31, 2014 Financial assets Cash and due from banks $ 72,316 $ 72,316 $ 72,316 $ — $ — Interest-bearing deposits in other banks 13,691 13,691 13,691 — — Investment securities 1,467,305 1,464,615 877 1,450,643 13,095 Loans held for sale 9,683 9,683 — — 9,683 Net loans and leases 2,858,158 2,752,420 — 70,743 2,681,677 Accrued interest receivable 13,584 13,584 13,584 — — Financial liabilities Deposits: Noninterest-bearing deposits 1,034,146 1,034,146 1,034,146 — — Interest-bearing demand and savings deposits 2,030,870 2,030,870 2,030,870 — — Time deposits 1,045,284 1,047,322 — — 1,047,322 Short-term debt 38,000 38,000 — 38,000 — Long-term debt 92,785 42,454 — 42,454 — Accrued interest payable (included in other liabilities) 1,018 1,018 1,018 — — Off-balance sheet financial instruments Commitments to extend credit 720,255 3,601 — 3,601 — Standby letters of credit and financial guarantees written 18,797 141 — 141 — Interest rate options 44,266 444 — 444 — Forward interest rate contracts 23,919 (62 ) — (62 ) — Fair Value Measurements We group our financial assets and liabilities at fair value into three levels based on the markets in which the financial assets and liabilities are traded and the reliability of the assumptions used to determine fair value as follows: • Level 1 — Valuation is based upon quoted prices (unadjusted) for identical assets or liabilities traded in active markets. A quoted price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available. • Level 2 — Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. • Level 3 — Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect our own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of discounted cash flow models and similar techniques that requires the use of significant judgment or estimation. We base our fair values on the price that we would expect to receive if an asset were sold or pay to transfer a liability in an orderly transaction between market participants at the measurement date. We also maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements. We use fair value measurements to record adjustments to certain financial assets and liabilities and to determine fair value disclosures. Available for sale securities and derivatives are recorded at fair value on a recurring basis. From time to time, we may be required to record other financial assets at fair value on a nonrecurring basis such as loans held for sale, impaired loans and mortgage servicing rights. These nonrecurring fair value adjustments typically involve application of the lower of cost or fair value accounting or write-downs of individual assets. There were no transfers of financial assets and liabilities between Level 1 and Level 2 of the fair value hierarchy during the year ended December 31, 2015 . The following table below presents the balances of assets and liabilities measured at fair value on a recurring basis: Fair Value at Reporting Date Using Fair Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant (Dollars in thousands) December 31, 2015 Available for sale securities: Debt securities: States and political subdivisions $ 190,473 $ — $ 177,994 $ 12,479 Corporate securities 108,571 — 108,571 — Mortgage-backed securities: U.S. Government sponsored entities 771,909 — 771,909 — Non-agency collateralized mortgage obligations 200,386 — 200,386 — Other 916 916 — — Derivatives - Interest rate contracts 59 — 59 — Total $ 1,272,314 $ 916 $ 1,258,919 $ 12,479 December 31, 2014 Available for sale securities: Debt securities: States and political subdivisions $ 191,645 $ — $ 178,550 $ 13,095 Corporate securities 100,604 — 100,604 — Mortgage-backed securities: U.S. Government sponsored entities 751,558 — 751,558 — Non-agency collateralized mortgage obligations 184,334 — 184,334 — Other 877 877 — — Derivatives - Interest rate contracts 382 — 382 — Total $ 1,229,400 $ 877 $ 1,215,428 $ 13,095 The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: Available for Sale Debt (Dollars in thousands) Balance at December 31, 2013 $ 10,518 Principal payments received (275 ) Purchases 2,706 Unrealized net loss included in other comprehensive loss 146 Balance at December 31, 2014 $ 13,095 Principal payments received (987 ) Purchases — Unrealized net gain included in other comprehensive income 371 Balance at December 31, 2015 $ 12,479 Within the state and political subdivisions debt securities category, the Company holds four mortgage revenue bonds issued by the City & County of Honolulu with an aggregate fair value of $12.5 million and $13.1 million at December 31, 2015 and 2014 , respectively. The Company estimates the fair value of its mortgage revenue bonds by using a discounted cash flow model to calculate the present value of estimated future principal and interest payments. The significant unobservable input used in the fair value measurement of the Company’s mortgage revenue bonds is the weighted average discount rate. As of December 31, 2015 , the weighted average discount rate utilized was 4.13% , which was derived by incorporating a credit spread over the FHLB Fixed-Rate Advance curve. Significant increases (decreases) in the weighted average discount rate could result in a significantly lower (higher) fair value measurement. For assets measured at fair value on a nonrecurring basis that were recorded at fair value on our balance sheet, the following table provides the level of valuation assumptions used to determine the respective fair values: Fair Value Measurements Using Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Total (Dollars in thousands) December 31, 2015 Impaired loans (1) $ 38,153 $ — $ 38,153 $ — $ 111 Other real estate (2) 1,962 — 1,962 — 220 $ 331 December 31, 2014 Impaired loans (1) $ 70,743 $ — $ 70,743 $ — $ 2,532 Other real estate (2) 2,948 — 2,948 — 1,540 $ 4,072 (1) Represents carrying value and related write-downs of loans for which adjustments are based on agreed upon purchase prices for the loans or the appraised value of the collateral. (2) Represents other real estate that is carried at the lower of carrying value or fair value less costs to sell. Fair value is generally based upon independent market prices or appraised values of the collateral.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION We have the following three reportable segments: Banking Operations, Treasury and All Others. The segments are consistent with our internal functional reporting lines and are managed separately because each unit has different target markets, technological requirements, marketing strategies and specialized skills. The Banking Operations segment includes construction and real estate development lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services and our retail branch offices, which provide a full range of deposit and loan products, as well as various other banking services. The Treasury segment is responsible for managing the Company’s investment securities portfolio and wholesale funding activities. The All Others segment includes activities not captured by the Banking Operations or Treasury segments described above and includes activities such as electronic banking, data processing and management of bank owned properties. The accounting policies of the segments are consistent with those described in Note 1. The majority of the Company’s net income is derived from net interest income. Accordingly, management focuses primarily on net interest income, rather than gross interest income and expense amounts, in evaluating segment profitability. Intersegment net interest income (expense) was allocated to each segment based upon a funds transfer pricing process that assigns costs of funds to assets and earnings credits to liabilities based on market interest rates that reflect interest rate sensitivity and maturity characteristics. All administrative and overhead expenses are allocated to the segments at cost. Cash, investment securities, loans and leases and their related balances are allocated to the segment responsible for acquisition and maintenance of those assets. Segment assets also include all premises and equipment used directly in segment operations. Segment net income (loss) and assets are provided in the following table for the periods indicated: Banking Treasury All Others Total (Dollars in thousands) Year ended December 31, 2015 Net interest income $ 115,936 $ 33,592 $ — $ 149,528 Intersegment net interest income (expense) 43,686 (31,576 ) (12,110 ) — Credit (provision) for loan and lease losses 15,671 — — 15,671 Other operating income 23,447 967 14,570 38,984 Other operating expense (59,273 ) (1,859 ) (70,095 ) (131,227 ) Administrative and overhead expense allocation (59,266 ) (1,042 ) 60,308 — Income taxes (28,070 ) (29 ) 1,011 (27,088 ) Net income (loss) $ 52,131 $ 53 $ (6,316 ) $ 45,868 At December 31, 2015: Investment securities $ — $ 1,520,172 $ — $ 1,520,172 Loans and leases (including loans held for sale) 3,225,641 — — 3,225,641 Other 74,963 226,172 84,340 385,475 Total assets $ 3,300,604 $ 1,746,344 $ 84,340 $ 5,131,288 Year ended December 31, 2014 Net interest income $ 108,815 $ 34,603 $ — $ 143,418 Intersegment net interest income (expense) 34,308 (33,356 ) (952 ) — Credit (provision) for loan and lease losses 6,414 — — 6,414 Other operating income 24,496 4,042 15,285 43,823 Other operating expense (60,587 ) (2,086 ) (70,140 ) (132,813 ) Administrative and overhead expense allocation (59,610 ) (1,126 ) 60,736 — Income taxes (18,843 ) (727 ) (819 ) (20,389 ) Net income $ 34,993 $ 1,350 $ 4,110 $ 40,453 At December 31, 2014: Investment securities $ — $ 1,467,305 $ — $ 1,467,305 Loans and leases (including loans held for sale) 2,941,881 — — 2,941,881 Other 111,071 248,455 84,275 443,801 Total assets $ 3,052,952 $ 1,715,760 $ 84,275 $ 4,852,987 Year ended December 31, 2013 Net interest income $ 101,282 $ 31,827 $ — $ 133,109 Intersegment net interest income (expense) 16,947 (30,675 ) 13,728 — Credit (provision) for loan and lease losses 11,310 — — 11,310 Other operating income 26,140 3,137 25,668 54,945 Other operating expense (58,891 ) (3,788 ) (76,857 ) (139,536 ) Administrative and overhead expense allocation (54,851 ) (2,004 ) 56,855 — 117,088 218 (5,059 ) 112,247 Net income (loss) $ 159,025 $ (1,285 ) $ 14,335 $ 172,075

PARENT COMPANY AND REGULATORY R

PARENT COMPANY AND REGULATORY RESTRICTIONS	12 Months Ended
	Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
PARENT COMPANY AND REGULATORY RESTRICTIONS	PARENT COMPANY AND REGULATORY RESTRICTIONS At December 31, 2015 , the accumulated deficit of the parent company, Central Pacific Financial Corp., included $417.9 million of equity in undistributed losses of Central Pacific Bank. Central Pacific Bank, as a Hawaii state-chartered bank, may only pay dividends to the extent it has retained earnings as defined under Hawaii banking law (“Statutory Retained Earnings”), which differs from GAAP retained earnings. As of December 31, 2015 , the bank had Statutory Retained Earnings of $63.7 million . For further information, see Note 13. Section 131 of the Federal Deposit Insurance Corporation Improvement Act (“FDICIA”) required the Board of Governors of the Federal Reserve System, FDIC, and the Comptroller of the Currency (collectively, the “Agencies”) to develop a mechanism to take prompt corrective action to resolve the problems of insured depository institutions. The final rules to implement FDICIA’s Prompt Corrective Action provisions established minimum regulatory capital standards to determine an insured depository institution’s capital category. However, the Agencies may impose higher minimum standards on individual institutions or may downgrade an institution from one capital category to a lower capital category because of safety and soundness concerns. The Prompt Corrective Action provisions impose certain restrictions on institutions that are undercapitalized. The restrictions become increasingly more severe as an institution’s capital category declines from undercapitalized to critically undercapitalized. The following table sets forth actual and required capital and capital ratios for the Company and the bank, as well as the minimum capital adequacy requirements applicable generally to all financial institutions as of the dates indicated. The Company’s and the bank’s leverage capital, Tier 1, total risk-based capital ratios, and common equity Tier 1 (CET1) risk based capital as of December 31, 2015 were above the levels required for a “well-capitalized” regulatory designation. Actual Minimum required for Minimum required to Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Company As of December 31, 2015 Leverage capital $ 532,787 10.7 % $ 199,350 4.0 % $ 249,187 5.0 % Tier 1 risk-based capital 532,787 14.4 221,808 6.0 295,745 8.0 Total risk-based capital 579,651 15.7 295,745 8.0 369,681 10.0 CET1 risk-based capital 472,698 12.8 166,356 4.5 240,292 6.5 As of December 31, 2014 Leverage capital 562,063 12.0 186,922 4.0 233,652 5.0 Tier 1 risk-based capital 562,063 17.0 132,475 4.0 198,712 6.0 Total risk-based capital 603,939 18.2 264,949 8.0 331,187 10.0 Central Pacific Bank As of December 31, 2015 Leverage capital 518,617 10.4 199,098 4.0 248,872 5.0 Tier 1 risk-based capital 518,617 14.1 221,435 6.0 295,247 8.0 Total risk-based capital 565,231 15.3 295,247 8.0 369,058 10.0 CET1 risk-based capital 518,617 14.1 166,076 4.5 239,888 6.5 As of December 31, 2014 Leverage capital 540,273 11.6 186,828 4.0 233,535 5.0 Tier 1 risk-based capital 540,273 16.3 132,376 4.0 198,564 6.0 Total risk-based capital 582,068 17.6 264,752 8.0 330,940 10.0 Condensed financial statements of the parent company are as follows: CENTRAL PACIFIC FINANCIAL CORP. CONDENSED BALANCE SHEETS December 31, 2015 2014 (Dollars in thousands) Assets Cash and cash equivalents $ 12,559 $ 22,775 Investment securities available for sale 917 877 Investment in subsidiary bank, at equity in underlying net assets 551,156 612,505 Investment in other subsidiaries, at equity in underlying assets — — Accrued interest receivable and other assets 24,560 26,136 Total assets $ 589,192 $ 662,293 Liabilities and Shareholders’ Equity Long-term debt $ 92,785 $ 92,785 Other liabilities 1,768 1,467 Total liabilities 94,553 94,252 Shareholders’ equity: Preferred stock, no par value, authorized 1,100,000 shares; issued and outstanding none at December 31, 2015 and 2014 — — Common stock, no par value, authorized 185,000,000 shares; issued and outstanding 31,361,452 and 35,233,674 shares at December 31, 2015 and 2014, respectively 548,878 642,205 Surplus 82,847 79,716 Accumulated deficit (137,314 ) (157,039 ) Accumulated other comprehensive income (loss) 203 3,159 Total shareholders’ equity 494,614 568,041 Non-controlling interest $ 25 $ — Total Equity $ 494,639 $ 568,041 Total liabilities and shareholders’ equity $ 589,192 $ 662,293 CENTRAL PACIFIC FINANCIAL CORP. CONDENSED STATEMENTS OF INCOME Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Income: Dividends from subsidiary banks $ 111,765 $ 159,319 $ — Interest income: Interest from subsidiary banks 9 16 30 Other income 91 89 2,001 Total income 111,865 159,424 2,031 Expense: Interest on long-term debt 2,626 2,572 3,118 Other expenses 2,551 2,262 2,679 Total expenses 5,177 4,834 5,797 Gain (loss) before income taxes and equity in undistributed income of subsidiaries 106,688 154,590 (3,766 ) Income tax expense (benefit) 670 (2,520 ) (31,891 ) Income before equity in undistributed income of subsidiaries 106,018 157,110 28,125 Equity in undistributed income (loss) of subsidiary bank (60,150 ) (116,657 ) 143,945 Equity in undistributed income of other subsidiaries — — 5 Net income $ 45,868 $ 40,453 $ 172,075 CASH FLOWS Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Cash flows from operating activities Net income $ 45,868 $ 40,453 $ 172,075 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Deferred income tax expense (benefit) 670 (2,520 ) (25,707 ) Equity in undistributed income (loss) of subsidiary bank 60,150 116,657 (143,945 ) Equity in undistributed income of other subsidiaries — — (5 ) Share-based compensation 1,429 4,218 4,931 Accrued interest payable — — (11,919 ) Other, net 983 (923 ) (362 ) Net cash provided by (used in) operating activities 109,100 157,885 (4,932 ) Cash flows from investing activities Distributions from unconsolidated subsidiaries — 479 9,000 Contributions to unconsolidated subsidiaries — 518 (9,000 ) Net cash provided by investing activities — 997 — Cash flows from financing activities Net proceeds from issuance of common stock and stock option exercises 360 74 74 Repayments of long-term debt — — (15,464 ) Repurchases of common stock (93,533 ) (142,405 ) — Dividends paid (26,143 ) (13,405 ) (6,735 ) Net cash used in financing activities (119,316 ) (155,736 ) (22,125 ) Net increase (decrease) in cash and cash equivalents (10,216 ) 3,146 (27,057 ) Cash and cash equivalents At beginning of year 22,775 19,629 46,686 At end of year $ 12,559 $ 22,775 $ 19,629

UNAUDITED QUARTERLY FINANCIAL I

UNAUDITED QUARTERLY FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
UNAUDITED QUARTERLY FINANCIAL INFORMATION	UNAUDITED QUARTERLY FINANCIAL INFORMATION First Second Third Fourth Full Year (Dollars in thousands, except per share data) 2015 Total interest income $ 37,781 $ 38,896 $ 39,442 $ 39,916 $ 156,035 Total interest expense 1,546 1,602 1,637 1,722 6,507 Net interest income 36,235 37,294 37,805 38,194 149,528 Provision (credit) for loan and lease losses (2,747 ) (7,319 ) (3,647 ) (1,958 ) (15,671 ) Net interest income after provision (credit) for loan and lease losses 38,982 44,613 41,452 40,152 165,199 Investment securities losses — (1,866 ) — (1,866 ) Income before income taxes 16,154 20,279 19,106 17,417 72,956 Net income 10,395 12,335 12,206 10,932 45,868 Basic earnings per share $ 0.30 $ 0.39 $ 0.39 $ 0.35 $ 1.42 Diluted earnings per share 0.29 0.39 0.38 0.34 1.40 2014 Total interest income $ 37,393 $ 37,536 $ 37,139 $ 37,741 $ 149,809 Total interest expense 1,597 1,630 1,607 1,557 6,391 Net interest income 35,796 35,906 35,532 36,184 143,418 Provision (credit) for loan and lease losses (1,316 ) 1,995 (1,722 ) (5,371 ) (6,414 ) Net interest income after provision (credit) for loan and lease losses 37,112 33,911 37,254 41,555 149,832 Investment securities gains — 240 — — 240 Income before income taxes 15,326 13,027 13,471 19,018 60,842 Net income 9,808 9,150 8,230 13,265 40,453 Basic earnings per share $ 0.23 $ 0.25 $ 0.23 $ 0.37 $ 1.08 Diluted earnings per share 0.23 0.25 0.23 0.37 1.07

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On January 27, 2016, the Company's Board of Directors authorized the repurchase of up to $30.0 million of the Company's common stock from time to time in the open market or in privately negotiated transactions, pursuant to a newly authorized share repurchase program (the "2016 Repurchase Plan"). The 2016 Repurchase Plan replaces and supersedes in its entirety the CPF Repurchase Plan previously approved by the Company's Board of Directors, which had approximately $20.2 million in remaining repurchase authority at December 31, 2015.

SUMMARY OF SIGNIFICANT ACCOUN36

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Central Pacific Bank had two wholly-owned subsidiaries as of December 31, 2013: CPB Real Estate, Inc. and Citibank Properties, Inc. Both were real estate investment trusts that were dissolved in 2014. Central Pacific Bank also had two other wholly-owned subsidiaries, CB Technology, Inc. and Central Pacific HomeLoans, Inc., which were dissolved in February 2013 and February 2012, respectively. In December 2015, we acquired a 50% ownership interest in a mortgage loan origination and brokerage company, One Hawaii HomeLoans, LLC. The bank concluded that the investment meets the consolidation requirements under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810, " Consolidation ". The bank concluded that the entity meets the definition of a variable interest entity and that we are the primary beneficiary of the variable interest entity. Accordingly, the investment has been consolidated into our financial statements as of December 31, 2015. We have 50% ownership interests in four other mortgage loan origination and brokerage companies which are accounted for using the equity method and are included in investment in unconsolidated subsidiaries: Pacific Access Mortgage, LLC, Gentry HomeLoans, LLC, Haseko HomeLoans, LLC and Island Pacific HomeLoans, LLC. We also have non-controlling equity investments in affiliates that are accounted for under the cost method and are included in investment in unconsolidated subsidiaries. Our investments in unconsolidated subsidiaries accounted for under the equity and cost methods were $0.6 million and $5.5 million , respectively, at December 31, 2015 and $0.5 million and $6.7 million , respectively, at December 31, 2014 . Our policy for determining impairment of these investments includes an evaluation of whether a loss in value of an investment is other than temporary. Evidence of a loss in value includes absence of an ability to recover the carrying amount of the investment or the inability of the investee to sustain an earnings capacity which would justify the carrying amount of the investment. We perform impairment tests whenever indicators of impairment are present. If the value of an investment declines and it is considered other than temporary, the investment is written down to its respective fair value in the period in which this determination is made. The Company sponsors the Central Pacific Bank Foundation, which is not consolidated in the Company’s financial statements.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with generally accepted accounting principles in the United States (“GAAP”) requires management to make estimates and assumptions that reflect the reported amounts of assets and liabilities and disclosures of contingent assets and contingent liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance and provision for loan and lease losses, reserves for unfunded loan commitments, residential mortgage repurchase reserves and deferred income tax assets and income tax expense, as well as the valuation of investment securities, other intangible assets and the related amortization thereon, pension liability and the fair value of certain financial instruments.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, we consider cash and cash equivalents to include cash and due from banks, interest-bearing deposits in other banks, federal funds sold and all highly liquid investments with maturities of three months or less at the time of purchase.
Investment Securities	Investment Securities Investments in debt securities and marketable equity securities are designated as trading, available for sale, or held to maturity. Securities are designated as held to maturity only if we have the positive intent and ability to hold these securities to maturity. Held to maturity debt securities are reported at amortized cost. Trading securities are reported at fair value, with changes in fair value included in earnings. Available-for-sale securities are reported at fair value with net unrealized gains and losses, net of taxes, included in accumulated other comprehensive income (loss) (“AOCI”). We use current quotations, where available, to estimate the fair value of investment securities. Where current quotations are not available, we estimate fair value based on the present value of expected future cash flows. We consider the facts of each security including the nature of the security, the amount and duration of the loss, credit quality of the issuer, the expectations for that security’s performance and our intent and ability to hold the security until recovery. Declines in the value of debt securities and marketable equity securities that are considered other than temporary are recorded in other operating income. Realized gains and losses on the sale of investment securities are recorded in other operating income using the specific identification method. We amortize premiums and accrete discounts associated with investment securities using the interest method over the life of the respective security instrument. We were a member of the Federal Home Loan Bank of Seattle until its merger with the Federal Home Loan Bank of Des Moines on June 1, 2015. We are now a member of the Federal Home Loan Bank of Des Moines (the "FHLB"). The bank is required to obtain and hold a specific number of shares of capital stock of the FHLB equal to the sum of a membership investment requirement and an activity-based investment requirement. The securities are reported at cost and are presented separately in the consolidated balance sheets.
Loans Held for Sale	Loans Held for Sale Loans held for sale consists of the following two types: (1) Hawaii residential mortgage loans that are originated with the intent to sell them in the secondary market and (2) non-residential mortgage loans in both Hawaii and the U.S. Mainland that were originated with the intent to be held in our portfolio but were subsequently transferred to the held for sale category. Hawaii residential mortgage loans classified as held for sale are carried at the lower of cost or fair value on an aggregate basis, while the non-residential Hawaii and U.S. Mainland loans are recorded at the lower of cost or fair value on an individual basis. Net fees and costs associated with originating and acquiring the Hawaii residential mortgage loans held for sale are deferred and included in the basis for determining the gain or loss on sales of loans held for sale. We report the fair values of the non-residential mortgage loans classified as held for sale net of applicable selling costs on our consolidated balance sheets. Loans originated with the intent to be held in our portfolio are subsequently transferred to held for sale when our intent to hold for the foreseeable future has changed. At the time of a loan’s transfer to the held for sale account, the loan is recorded at the lower of cost or fair value. Any reduction in the loan’s value is reflected as a write-down of the recorded investment resulting in a new cost basis, with a corresponding reduction in the allowance for loan and lease losses. In subsequent periods, if the fair value of a loan classified as held for sale is less than its cost basis, a valuation adjustment is recognized in our consolidated statement of income in other operating expense and the carrying value of the loan is adjusted accordingly. The valuation adjustment may be recovered in the event that the fair value increases, which is also recognized in our consolidated statement of income in other operating expense. The fair value of loans classified as held for sale are generally based upon quoted prices for similar assets in active markets, acceptance of firm offer letters with agreed upon purchase prices, discounted cash flow models that take into account market observable assumptions, or independent appraisals of the underlying collateral securing the loans. Collateral values are determined based on appraisals received from qualified valuation professionals and are obtained periodically or when indicators that property values may be impaired are present. We sell residential mortgage loans under industry standard contractual provisions that include various representations and warranties, which typically cover ownership of the loan, compliance with loan criteria set forth in the applicable agreement, validity of the lien securing the loan, and other similar matters. We may be required to repurchase certain loans sold with identified defects, indemnify the investor, or reimburse the investor for any credit losses incurred. Our repurchase risk generally relates to early payment defaults and borrower fraud. We establish residential mortgage repurchase reserves to reflect this risk based on our estimate of losses after considering a combination of factors, including our estimate of future repurchase activity and our projection of expected credit losses resulting from repurchased loans.
Loans	Loans Loans are stated at the principal amount outstanding, net of unearned income. Unearned income represents net deferred loan fees that are recognized over the life of the related loan as an adjustment to yield. Net deferred loan fees are amortized using the interest method over the contractual term of the loan, adjusted for actual prepayments. Unamortized fees on loans paid in full are recognized as a component of interest income. Interest income on loans is recognized on an accrual basis. For all loan types, the Company determines delinquency status by considering the number of days full payments required by the contractual terms of the loan are past due. Loans are placed on nonaccrual status when interest payments are 90 days past due, or earlier should management determine that the borrowers will be unable to meet contractual principal and/or interest obligations, unless the loans are well-secured and in the process of collection. When a loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed against current period interest income should management determine that the collectibility of such accrued interest is doubtful. All subsequent receipts are applied to principal outstanding and no interest income is recognized unless the financial condition and payment record of the borrowers warrant such recognition. A nonaccrual loan may be restored to an accrual basis when principal and interest payments are current and full payment of principal and interest is expected.
Leases	Leases We provide equipment financing to our customers through a variety of lease arrangements. Direct financing leases are carried at the aggregate of lease payments receivable plus estimated residual value of the leased property, less unearned income. Unearned income on direct financing leases is amortized over the lease terms by methods that approximate the interest method.
Allowance for Loan and Lease Losses	Allowance for Loan and Lease Losses The allowance for loan and lease losses (the “Allowance”) is established through provisions for loan and lease losses (the “Provision”) charged against income. Our policy is to charge a loan off in the period in which the loan is deemed to be uncollectible and all interest previously accrued but not collected is reversed against current period interest income. We consider a loan to be uncollectible when it is probable that a loss has been incurred and the Company can make a reasonable estimate of the loss. In these instances, the likelihood of and/or timeframe for recovery of the amount due is uncertain, weak, or protracted. Subsequent receipts, if any, are credited first to the remaining principal, then to the Allowance as recoveries, and finally to unaccrued interest. The Allowance is management’s estimate of credit losses inherent in our loan and lease portfolio at the balance sheet date. We maintain our Allowance at an amount we expect to be sufficient to absorb probable losses inherent in our loan and lease portfolio based on a projection of probable net loan charge-offs. The Company’s approach to developing the Allowance has three basic elements. These elements include specific reserves for individually impaired loans, a general allowance for loans other than those analyzed as individually impaired, and an unallocated reserve. These three methods are explained below. Specific Reserve Individually impaired loans in all loan categories are evaluated using one of three valuation methods as prescribed under Accounting Standards Codification (“ASC”) 310-10, Fair Value of Collateral, Observable Market Price, or Cash Flow . A loan is generally evaluated for impairment on an individual basis if it meets one or more of the following characteristics: risk-rated as substandard, doubtful or loss, loans on nonaccrual status, troubled debt restructures, or any loan deemed prudent by management to so analyze. If the valuation of the impaired loan is less than the recorded investment in the loan, the deficiency will be charged off against the Allowance or, alternatively, a specific reserve will be established and included in the overall Allowance balance. General Allowance In determining the general allowance component of the Allowance, the Company utilizes a comprehensive approach to segment the loan portfolio into homogenous groups. Six criteria divide the Company’s loan portfolio into 128 homogenous subsectors. First, loans are divided by general geographic region (U.S. Mainland and Hawaii). Second, loans are subdivided according to FDIC classification (Construction, Commercial Mortgage, Commercial, Financial and Agricultural, Leases, Residential Mortgage, Consumer). Third, loans within the Construction category are further subdivided by collateral type (Commercial and Residential). Fourth, loans within the Residential Mortgage category are further subdivided by ownership type (Investor-owned and Owner-occupied). Fifth, loans are subdivided by state or for some, by county (All Hawaii, Hawaii Island, Kauai, Maui, Oahu, Other Hawaii, All U.S. Mainland, Los Angeles/Orange County CA, Riverside/San Bernardino CA, Sacramento/Placer/El Dorado/Yolo CA, San Diego CA, Washington/Oregon, Other U.S. Mainland). Finally, loans are further subdivided by risk rating (Pass, Special Mention, Substandard, and Doubtful). For the purpose of determining general allowance loss factors, loss experience is derived from charge-offs and recoveries. From 2010 through 2013, the calculation of subsector loss factors involved the summation of charge-offs and recoveries that occurred within the last eight quarters (for loans secured by real estate) or four quarters (for all other loans) divided by the average loan balance over the last eight or four quarters, respectively. The eight or four quarter period is referred to as the look-back period. We did not apply any weighting schema to our loss experience over the look-back period. A rolling eight quarter period was utilized for FDIC classifications involving real estate collateral to account for prolonged loss recognition and ultimate disposition periods associated with loans secured by real estate. The Company’s rapidly evolving loss experience necessitated the use of shorter loss analysis periods in order to ensure that loss rates would be adequately responsive to changes in loss experience. During that period, the Company considered recent loss data to be more relevant to the period then under analysis. The look-back period was also consistent with commentary provided by our primary banking regulator following our 2010 Safety and Soundness Examination. During 2012 through 2014, economic conditions stabilized, and improved credit quality trends have contributed to consistent reductions to the Allowance. Given the diminishing loss rates, in the first quarter of 2014 the look-back period was extended to 17 quarters, with the intention of extending the look-back period each quarter thereafter to a total of 24 quarters or six years to incorporate broader loss experience through a more complete economic cycle and reduce the Company’s reliance on proxy loss rates by capturing more of the Company’s own historical loss experience in this extended look-back period. The enhanced methodology does not incorporate data from before 2010 because the Company has reason to believe that anomalous charge-off activity may cause pre-2010 internal loss data to be an inappropriate representation of future loss experience. We believe that this longer look-back period is appropriate in light of the Company’s limited loss experience throughout the recent economic recovery and stabilization. Additionally, as economic conditions have stabilized over 2012 through 2014, lower loss rate volatility has diminished the need for shorter loss analysis periods that are more responsive to shifts in loss experience. In our revised approach, the losses during the six year look-back period will be weighted to place more emphasis on recent loss experience. Also in late 2013, the Company received guidance from its primary banking regulator supporting the use of extended loss analysis periods. The Supervisory Examiner recommended a periodic reassessment of the look-back period and suggested that a look-back period beyond eight quarters may be more reasonable given the then current economic conditions and portfolio performance. Our Allowance methodology uses qualitative adjustments for economic/market conditions and Company-specific conditions. The economic/market conditions factor is applied on a regional/geographic basis. The Company-specific condition factor is applied on a category basis. Two key indicators, personal income and unemployment, comprise the economic/market adjustment factor. Personal income is analyzed by comparing average quarter-to-quarter percentage change trends reported by the U.S. Bureau of Economic Analysis. Specifically, the rolling four quarter average percentage change in personal income is calculated and compared to a baseline historical factor, calculated as the average quarter-to-quarter percentage change over the prior 10 years. The difference between the current average change and the historical average change is utilized as the personal income component of the economic/market adjustment factor. The second component of the economic/market factor, unemployment, is derived by comparing the current quarter unemployment rate, reported by the U.S. Bureau of Labor Statistics, to its 10 year historical average. A constant scaling factor is applied to the difference between the current rate and the historical average in order to smooth significant period-to-period fluctuations. The result is utilized as the unemployment component of the economic factor. The personal income factor and unemployment factor are added together to determine each region’s total economic/market adjustment factor. The general allowance also incorporates qualitative adjustment factors that capture company-specific conditions for which national/regional statistics are not available, or for which significant localized market specific events have not yet been captured within regional statistics or the Company’s historical loss experience. Since we cannot predict with certainty the amount of loan and lease charge-offs that will be incurred and because the eventual level of loan and lease charge-offs are impacted by numerous conditions beyond our control, we use our historical loss experience adjusted for current conditions to determine both our Allowance and Provision. In addition, various regulatory agencies, as an integral part of their examination processes, periodically review our Allowance. The determination of the Allowance requires us to make estimates of losses that are highly uncertain and involves a high degree of judgment. Accordingly, actual results could differ from those estimates. Changes in the estimate of the Allowance and related Provision could materially affect our operating results. Unallocated Reserve The Company may also maintain an unallocated Allowance amount to provide for other credit losses inherent in our loan and lease portfolio that may not have been contemplated in the credit loss factors. The unallocated reserve is a measure to address judgmental estimates that are inevitably imprecise and it reflects an adjustment to the Allowance that is not attributable to specific categories of the loan portfolio. The unallocated reserve is distinct from and not captured in the Company’s qualitative adjustments in the general component of the Allowance. Accordingly, the unallocated reserve is intended to capture broader national and global economic risks that could potentially have a ripple effect on our loan portfolio. The decrease in the unallocated reserve in 2015 was primarily due to amounts that were included in the unallocated reserve in 2014 being captured in the allocated reserve in 2015.
Reserve for Unfunded Commitments	Reserve for Unfunded Commitments Our process for determining the reserve for unfunded loan commitments is consistent with our process for determining the Allowance and is adjusted for estimated loan funding probabilities. The reserve for unfunded loan commitments is recorded separately through a valuation allowance included in other liabilities. Credit losses for off-balance sheet credit exposures are deducted from the allowance for credit losses on off-balance sheet credit exposures in the period in which the liability is settled. The allowance for credit losses on off-balance sheet credit losses is established by a charge to other operating expense.
Premises and Equipment	Premises and Equipment Premises and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization are included in other operating expense and are computed using the straight-line method over the shorter of the estimated useful lives of the assets or the applicable leases. Useful lives generally range from five to thirty-nine years for premises and improvements, and one to seven years for equipment. Major improvements and betterments are capitalized, while recurring maintenance and repairs are charged to operating expense. Net gains or losses on dispositions of premises and equipment are included in other operating expense.
Other Intangible Assets	Other Intangible Assets Other intangible assets include a core deposit premium and mortgage servicing rights. Our core deposit premium is being amortized over 14 years which approximates the estimated life of the purchased deposits. The carrying value of our core deposit premium is periodically evaluated to estimate the remaining periods of benefit. If these periods of benefit are determined to be less than the remaining amortizable life, an adjustment to reflect such shorter life will be made. We utilize the amortization method to measure our mortgage servicing rights. Under the amortization method, we amortize our mortgage servicing rights in proportion to and over the period of net servicing income. Income generated as the result of new mortgage servicing rights is reported as gains on sales of loans. Amortization of the servicing rights is reported as amortization of other intangible assets in our consolidated statements of income. Ancillary income is recorded in other income. Mortgage servicing rights are recorded when loans are sold to third-parties with servicing of those loans retained and we classify our entire mortgage servicing rights into one class. Initial fair value of the servicing right is calculated by a discounted cash flow model prepared by a third party service provider based on market value assumptions at the time of origination and we assess the servicing right for impairment using current market value assumptions at each reporting period. Critical assumptions used in the discounted cash flow model include mortgage prepayment speeds, discount rates, costs to service and ancillary income. Variations in our assumptions could materially affect the estimated fair values. Changes to our assumptions are made when current trends and market data indicate that new trends have developed. Current market value assumptions based on loan product types (fixed rate, adjustable rate and balloon loans) include average discount rates, servicing cost and ancillary income. Many of these assumptions are subjective and require a high level of management judgment. Our mortgage servicing rights portfolio and valuation assumptions are periodically reviewed by management. The fair value of our mortgage servicing rights is validated by first ensuring the completeness and accuracy of the loan data used in the valuation analysis. Reconciliation is performed by comparing the loan data from our loan system to a valuation report prepared by a third party. Additionally, the critical assumptions which come from the third party are reviewed by management. This review may include comparing actual assumptions to forecast or evaluating the reasonableness of market assumptions by reviewing them in relation to the values and trends of assumptions used by peer banks. The validation process also includes reviewing key metrics such as the fair value as a percentage of the total unpaid principal balance of the mortgages serviced, and the resulting percentage as a multiple of the net servicing fee. These key metrics are tracked to ensure the trends are reasonable, and are periodically compared to peer banks. Prepayment speeds may be affected by economic factors such as home price appreciation, market interest rates, the availability of other credit products to our borrowers and customer payment patterns. Prepayment speeds include the impact of all borrower prepayments, including full payoffs, additional principal payments and the impact of loans paid off due to foreclosure liquidations. We perform an impairment assessment of our other intangible assets whenever events or changes in circumstance indicate that the carrying value of those assets may not be recoverable. Our impairment assessments involve, among other valuation methods, the estimation of future cash flows and other methods of determining fair value. Estimating future cash flows and determining fair values is subject to judgments and often involves the use of significant estimates and assumptions. The variability of the factors we use to perform our impairment tests depend on a number of conditions, including uncertainty about future events and cash flows. All such factors are interdependent and, therefore, do not change in isolation. Accordingly, our accounting estimates may materially change from period to period due to changing market factors.
Other Real Estate	Other Real Estate Other real estate is composed of properties acquired through foreclosure proceedings and is initially recorded at fair value less estimated costs to sell the property, thereby establishing the new cost basis of other real estate. Losses arising at the time of acquisition of such properties are charged against the Allowance. Subsequent to acquisition, such properties are carried at the lower of cost or fair value less estimated selling expenses, determined on an individual asset basis. Any deficiency resulting from the excess of cost over fair value less estimated selling expenses is recognized as a valuation allowance. Any subsequent increase in fair value up to its cost basis is recorded as a reduction of the valuation allowance. Increases or decreases in the valuation allowance are included in other operating expense. Net gains or losses recognized on the sale of these properties are included in other operating income.
Non-Controlling Interest	Non-Controlling Interest Non-controlling interest at December 31, 2015 was comprised of capital and undistributed profits of the member of One Hawaii HomeLoans, LLC, other than the bank. Non-controlling interest on our consolidated balance sheet at December 31, 2015 totaled $25 thousand .
Share Based Compensation	Share Based Compensation Share-based compensation cost is measured at the grant date, based on the estimated fair value of the award, and is recognized as expense over the employee’s requisite service period. We use the Black-Scholes option-pricing model to determine the fair-value of stock-based awards and we recognize compensation expense for all share-based payment awards on a straight-line basis over their respective vesting period. See Note 14 for further discussion of our stock-based compensation.
Income Taxes	Income Taxes Deferred tax assets and liabilities are recognized for the estimated future tax effects attributable to temporary differences and carryforwards. A valuation allowance may be required if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. In determining whether a valuation allowance is necessary, we consider the level of taxable income in prior years, to the extent that carrybacks are permitted under current tax laws, as well as estimates of future taxable income and tax planning strategies that could be implemented to accelerate taxable income, if necessary. If our estimates of future taxable income were materially overstated or if our assumptions regarding the tax consequences of tax planning strategies were inaccurate, some or all of our deferred tax assets may not be realized, which would result in a charge to earnings. We recognize interest and penalties related to income tax matters in other expense. We establish income tax contingency reserves for potential tax liabilities related to uncertain tax positions. Tax benefits are recognized when we determine that it is more likely than not that such benefits will be realized. Where uncertainty exists due to the complexity of income tax statutes, and where the potential tax amounts are significant, we generally seek independent tax opinions to support our positions. If our evaluation of the likelihood of the realization of benefits is inaccurate, we could incur additional income tax and interest expense that would adversely impact earnings, or we could receive tax benefits greater than anticipated which would positively impact earnings.
Earnings per Share	Earnings per Share Basic earnings per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period, excluding unvested restricted stock. Diluted earnings per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period, increased by the dilutive effect of stock options and stock awards, less shares held in a Rabbi trust pursuant to a deferred compensation plan for directors.
Forward Foreign Exchange Contracts	Forward Foreign Exchange Contracts We are periodically a party to a limited amount of forward foreign exchange contracts to satisfy customer requirements for foreign currencies. These contracts are not utilized for trading purposes and are carried at market value, with realized gains and losses included in fees on foreign exchange.
Derivatives and Hedging Activities	Derivatives and Hedging Activities We recognize all derivatives on the balance sheet at fair value. On the date that we enter into a derivative contract, we designate the derivative as (1) a hedge of the fair value of an identified asset or liability (“fair value hedge”), (2) a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to an identified asset or liability (“cash flow hedge”) or (3) a transaction not qualifying for hedge accounting (“free standing derivative”). For a fair value hedge, changes in the fair value of the derivative and, to the extent that it is effective, changes in the fair value of the hedged asset or liability, attributable to the hedged risk, are recorded in current period net income in the same financial statement category as the hedged item. For a cash flow hedge, changes in the fair value of the derivative, to the extent that it is effective, is recorded in other comprehensive income (loss) (“OCI”). These changes in fair value are subsequently reclassified to net income in the same period(s) that the hedged transaction affects net income in the same financial statement category as the hedged item. For free standing derivatives, changes in fair values are reported in current period other operating income.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In January 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-01, "Investments - Equity Method and Joint Ventures: Accounting for Investments in Qualified Affordable Housing Projects." The provisions of ASU 2014-01 provide guidance on accounting for investments by a reporting entity in flow-through limited liability entities that manage or invest in affordable housing projects that qualify for the low-income housing tax credit. The ASU permits entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. The Company did not elect the use of the proportional amortization method of ASU 2014-01 on January 1, 2015, which has no material impact on our consolidated financial statements. In January 2014, the FASB issued ASU 2014-04, "Receivables - Troubled Debt Restructurings by Creditors - Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure." The provisions of ASU 2014-04 provide guidance on when an in substance repossession or foreclosure occurs, which is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan should be derecognized and the real estate property recognized. Additionally, the amendments in this update require interim and annual disclosure of both: 1) the amount of foreclosed residential real estate property held by the creditor and 2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The Company adopted the prospective transition method of ASU 2014-04 on January 1, 2015, and the adoption did not have a material impact on our consolidated financial statements. In June 2014, the FASB issued ASU 2014-11, “Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures.” ASU 2014-11 requires two accounting changes. First, the amendments change the accounting for repurchase-to-maturity transactions to secured borrowings. Second, for repurchase financing arrangements, the amendments require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. ASU 2014-11 requires disclosures for certain transactions comprising a transfer of a financial asset accounted for as a sale, and an agreement with the same transferee entered into in contemplation of the initial transfer which results in the transferor retaining substantially all of the exposure to the economic return on the transferred financial asset throughout the term of the transaction. ASU 2014-11 also requires additional disclosures for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions that are accounted for as secured borrowings. The adoption of ASU 2014-11 on January 1, 2015 did not have a material impact on our consolidated financial statements. In August 2014, the FASB issued ASU 2014-14, “Receivables - Troubled Debt Restructurings by Creditors Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure.” ASU 2014-14 requires that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: 1) the loan has a government guarantee that is not separable from the loan before foreclosure; 2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim; and 3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance expected to be recovered from the guarantor. The adoption of ASU 2014-14 on January 1, 2015 did not have a material impact on our consolidated financial statements.

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Summary of available for sale and held to maturity investment securities	A summary of our investment securities portfolio as of December 31, 2015 and 2014 is as follows: Amortized Gross Gross Estimated (Dollars in thousands) December 31, 2015 Held-to-Maturity: Mortgage-backed securities: Residential - U.S. Government sponsored entities $ 152,315 $ 123 $ (2,915 ) $ 149,523 Commercial - U.S. Government sponsored entities 95,602 — (989 ) 94,613 Total $ 247,917 $ 123 $ (3,904 ) $ 244,136 Available-for-Sale: Debt securities: States and political subdivisions $ 187,552 $ 3,819 $ (898 ) $ 190,473 Corporate securities 107,721 1,077 (227 ) 108,571 Mortgage-backed securities: Residential - U.S. Government sponsored entities 771,657 5,885 (5,633 ) 771,909 Residential - Non-government sponsored entities 64,286 733 (987 ) 64,032 Commercial - Non-government sponsored entities 135,439 2,033 (1,118 ) 136,354 Other 848 68 — 916 Total $ 1,267,503 $ 13,615 $ (8,863 ) $ 1,272,255 December 31, 2014 Held-to-Maturity: Mortgage-backed securities: Residential - U.S. Government sponsored entities $ 140,741 $ 196 $ (2,150 ) $ 138,787 Commercial - U.S. Government sponsored entities 97,546 — (736 ) 96,810 Total $ 238,287 $ 196 $ (2,886 ) $ 235,597 Available-for-Sale: Debt securities: States and political subdivisions $ 191,280 $ 2,054 $ (1,689 ) $ 191,645 Corporate securities 99,237 1,492 (125 ) 100,604 Mortgage-backed securities: Residential - U.S. Government sponsored entities 744,527 11,064 (4,033 ) 751,558 Residential - Non-government sponsored entities 45,275 1,510 (92 ) 46,693 Commercial - Non-government sponsored entities 135,630 2,946 (935 ) 137,641 Other 757 120 — 877 Total $ 1,216,706 $ 19,186 $ (6,874 ) $ 1,229,018
Schedule of amortized cost and estimated fair value of investment securities by contractual maturity	The amortized cost and estimated fair value of our investment securities at December 31, 2015 by contractual maturity are shown below. Actual maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. December 31, 2015 Amortized Estimated (Dollars in thousands) Held-to-Maturity: Mortgage-backed securities $ 247,917 $ 244,136 Available-for-Sale: Due in one year or less $ 15,596 $ 15,797 Due after one year through five years 106,255 107,125 Due after five years through ten years 73,452 74,980 Due after ten years 99,970 101,142 Mortgage-backed securities 971,382 972,295 Other 848 916 Total $ 1,267,503 $ 1,272,255
Schedule of investment securities in an unrealized loss position	Provided below is a summary of investment securities which were in an unrealized loss position at December 31, 2015 and 2014 : Less than 12 months 12 months or longer Total Description of Securities Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (Dollars in thousands) December 31, 2015 Debt securities: States and political subdivisions $ 30,481 $ (532 ) $ 12,576 $ (366 ) $ 43,057 $ (898 ) Corporate securities 32,977 (227 ) — — 32,977 (227 ) Mortgage-backed securities: Residential - U.S. Government sponsored entities 507,525 (6,241 ) 88,271 (2,307 ) 595,796 (8,548 ) Residential - Non-government sponsored entities 37,975 (987 ) — — 37,975 (987 ) Commercial - U.S. Government sponsored entities 94,613 (989 ) — — 94,613 (989 ) Commercial - Non-government sponsored entities 62,555 (961 ) 4,644 (157 ) 67,199 (1,118 ) Total temporarily impaired securities $ 766,126 $ (9,937 ) $ 105,491 $ (2,830 ) $ 871,617 $ (12,767 ) December 31, 2014 Debt securities: States and political subdivisions $ 23,591 $ (145 ) $ 68,622 $ (1,544 ) $ 92,213 $ (1,689 ) Corporate securities 23,938 (125 ) — — 23,938 (125 ) Mortgage-backed securities: Residential - U.S. Government sponsored entities 107,755 (487 ) 318,571 (5,696 ) 426,326 (6,183 ) Residential - Non-government sponsored entities 15,895 (92 ) — — 15,895 (92 ) Commercial - U.S. Government sponsored entities 11,455 (34 ) 85,355 (702 ) 96,810 (736 ) Commercial - Non-government sponsored entities 4,962 (8 ) 47,539 (927 ) 52,501 (935 ) Total temporarily impaired securities $ 187,596 $ (891 ) $ 520,087 $ (8,869 ) $ 707,683 $ (9,760 )

LOANS AND LEASES (Tables)

LOANS AND LEASES (Tables)	12 Months Ended
	Dec. 31, 2015
Receivables [Abstract]
Schedule of loans and leases, excluding loans held for sale	Loans and leases, excluding loans held for sale, consisted of the following: December 31, 2015 2014 (Dollars in thousands) Commercial, financial & agricultural $ 520,457 $ 463,070 Real estate: Construction 85,196 115,023 Mortgage - residential 1,433,862 1,280,089 Mortgage - commercial 761,566 704,099 Consumer 408,024 365,662 Leases 1,028 3,140 3,210,133 2,931,083 Net deferred costs 1,399 1,115 Total loans and leases $ 3,211,532 $ 2,932,198
Schedule of activity of loans made to certain directors, executive officers and their affiliates	In the normal course of business, our bank makes loans to certain directors, executive officers and their affiliates. An analysis of the activity of such loans follows: December 31, 2015 2014 (Dollars in thousands) Balance, beginning of year $ 29,231 $ 12,942 Additions 10,392 19,448 Repayments (20,863 ) (3,159 ) Other changes $ (8,285 ) $ — Balance, end of year $ 10,475 $ 29,231
Schedule of balance in the allowance for loan and lease losses and the recorded investment in loans and lease based on the impairment measurement methods, by class	The following table presents by class, the balance in the Allowance and the recorded investment in loans and leases based on the Company’s impairment method as of December 31, 2015 and 2014 : Commercial, Real estate Financial & Construction Mortgage - Mortgage - Consumer Leases Total (Dollars in thousands) December 31, 2015 Allowance for loan and lease losses: Ending balance attributable to loans: Individually evaluated for impairment $ — $ — $ — $ 51 $ — $ — $ 51 Collectively evaluated for impairment 6,905 8,454 17,738 21,796 6,230 — 61,123 6,905 8,454 17,738 21,847 6,230 — 61,174 Unallocated 2,140 Total ending balance $ 6,905 $ 8,454 $ 17,738 $ 21,847 $ 6,230 $ — $ 63,314 Loans and leases: Individually evaluated for impairment $ 1,044 $ 4,126 $ 22,716 $ 10,318 $ — $ — $ 38,204 Collectively evaluated for impairment 519,413 81,070 1,411,146 751,248 408,024 1,028 3,171,929 520,457 85,196 1,433,862 761,566 408,024 1,028 3,210,133 Net deferred costs (income) 629 (311 ) 2,443 (817 ) (545 ) — 1,399 Total ending balance $ 521,086 $ 84,885 $ 1,436,305 $ 760,749 $ 407,479 $ 1,028 $ 3,211,532 December 31, 2014 Allowance for loan and lease losses: Ending balance attributable to loans: Individually evaluated for impairment $ 1,533 $ — $ — $ — $ — $ — $ 1,533 Collectively evaluated for impairment 7,421 14,969 17,927 20,869 7,314 7 68,507 8,954 14,969 17,927 20,869 7,314 7 70,040 Unallocated 4,000 Total ending balance $ 8,954 $ 14,969 $ 17,927 $ 20,869 $ 7,314 $ 7 $ 74,040 Loans and leases: Individually evaluated for impairment $ 13,369 $ 4,888 $ 30,893 $ 23,126 $ — $ — $ 72,276 Collectively evaluated for impairment 449,701 110,135 1,249,196 680,973 365,662 3,140 2,858,807 463,070 115,023 1,280,089 704,099 365,662 3,140 2,931,083 Net deferred costs (income) 693 (469 ) 2,235 (826 ) (518 ) — 1,115 Total ending balance $ 463,763 $ 114,554 $ 1,282,324 $ 703,273 $ 365,144 $ 3,140 $ 2,932,198
Schedule of impaired loans, by class	The following table presents by class, impaired loans as of December 31, 2015 and 2014 : Unpaid Recorded Allowance (Dollars in thousands) December 31, 2015 Impaired loans with no related allowance recorded: Commercial, financial & agricultural $ 1,155 $ 1,044 $ — Real estate: Construction 10,472 4,126 — Mortgage - residential 24,792 22,716 — Mortgage - commercial 10,010 9,152 — Total impaired loans with no related allowance recorded 46,429 37,038 — Impaired loans with an allowance recorded: Real estate: Mortgage - commercial 1,166 1,166 51 Total impaired loans with an allowance recorded 1,166 1,166 51 Total $ 47,595 $ 38,204 $ 51 December 31, 2014 Impaired loans with no related allowance recorded: Commercial, financial & agricultural $ 738 $ 738 $ — Real estate: Construction 11,275 4,888 — Mortgage - residential 34,131 30,893 — Mortgage - commercial 30,249 23,126 — Total impaired loans with no related allowance recorded 76,393 59,645 — Impaired loans with an allowance recorded: Commercial, financial & agricultural 16,630 12,631 1,533 Total impaired loans with an allowance recorded 16,630 12,631 1,533 Total $ 93,023 $ 72,276 $ 1,533
Schedule of average recorded investment and interest income recognized on impaired loans, by class	The following table presents by class, the average recorded investment and interest income recognized on impaired loans as of December 31, 2015 , 2014 and 2013 : Average Interest (Dollars in thousands) December 31, 2015 Commercial, financial & agricultural $ 6,273 $ 17 Real estate: Construction 4,428 190 Mortgage - residential 26,101 78 Mortgage - commercial 14,240 373 Total $ 51,042 $ 658 December 31, 2014 Commercial, financial & agricultural $ 14,303 $ 22 Real estate: Construction 5,517 163 Mortgage - residential 33,102 627 Mortgage - commercial 18,692 397 Total $ 71,614 $ 1,209 December 31, 2013 Commercial, financial & agricultural $ 4,138 $ 24 Real estate: Construction 24,545 1,442 Mortgage - residential 38,325 586 Mortgage - commercial 21,160 833 Leases 33 — Total $ 88,201 $ 2,885
Schedule of aging of the recorded investment in past due loans and leases, by class	The following table presents by class, the aging of the recorded investment in past due loans and leases as of December 31, 2015 and 2014 : 30 - 59 60 - 89 Accruing Loans Greater Than 90 Days Past Due Nonaccrual Total Loans and Total (Dollars in thousands) December 31, 2015 Commercial, financial & agricultural $ 276 $ 140 $ — $ 1,044 $ 1,460 $ 519,626 $ 521,086 Real estate: Construction — — — — — 84,885 84,885 Mortgage - residential 3,834 545 — 6,130 10,509 1,425,796 1,436,305 Mortgage - commercial 54 — — 7,094 7,148 753,601 760,749 Consumer 1,443 521 273 — 2,237 405,242 407,479 Leases — — — — — 1,028 1,028 Total $ 5,607 $ 1,206 $ 273 $ 14,268 $ 21,354 $ 3,190,178 $ 3,211,532 December 31, 2014 Commercial, financial & agricultural $ 183 $ 85 $ — $ 13,007 $ 13,275 $ 450,488 $ 463,763 Real estate: Construction — — — 310 310 114,244 114,554 Mortgage - residential 3,078 379 — 13,048 16,505 1,265,819 1,282,324 Mortgage - commercial 68 — — 12,722 12,790 690,483 703,273 Consumer 1,500 417 77 — 1,994 363,150 365,144 Leases — — — — — 3,140 3,140 Total $ 4,829 $ 881 $ 77 $ 39,087 $ 44,874 $ 2,887,324 $ 2,932,198
Schedule of information related to loans modifications in a TDR, by class	The following table presents by class, information related to loans modified in a TDR during the years ended December 31, 2015 and 2014 : Number of Recorded Increase in (Dollars in thousands) Year ended December 31, 2015 Commercial, financial & agricultural 1 $ 488 $ — Real estate: mortgage - residential 3 4,131 — 4 4,619 — Year ended December 31, 2014 Real estate: mortgage - residential 12 $ 790 $ —
Schedule of loans modified as a TDR within the previous twelve months that subsequently defaulted, by class	The following table presents by class, loans modified as a TDR within the previous twelve months that subsequently defaulted during the years ended December 31, 2015 and 2014 : Year Ended December 31, 2015 2014 Number of Recorded Number of Recorded (Dollars in thousands) Real estate: mortgage - residential — $ — 1 $ 25 Total — $ — 1 $ 25
Schedule of recorded investment in the loans and leases, by class and credit indicator	The following table presents by class and credit indicator, the recorded investment in the Company’s loans and leases as of December 31, 2015 and 2014 : Pass Special Substandard Subtotal Net Deferred Total (Dollars in thousands) December 31, 2015 Commercial, financial & agricultural $ 514,971 $ 2,168 $ 3,318 $ 520,457 $ 629 $ 521,086 Real estate: Construction 83,601 808 787 85,196 (311 ) 84,885 Mortgage - residential 1,427,732 — 6,130 1,433,862 2,443 1,436,305 Mortgage - commercial 705,520 41,335 14,711 761,566 (817 ) 760,749 Consumer 407,778 95 151 408,024 (545 ) 407,479 Leases 1,028 — — 1,028 — 1,028 Total $ 3,140,630 $ 44,406 $ 25,097 $ 3,210,133 $ 1,399 $ 3,211,532 December 31, 2014 Commercial, financial & agricultural $ 432,892 $ 14,655 $ 15,523 $ 463,070 $ 693 $ 463,763 Real estate: Construction 111,370 — 3,653 115,023 (469 ) 114,554 Mortgage - residential 1,265,470 352 14,267 1,280,089 2,235 1,282,324 Mortgage - commercial 660,492 10,498 33,109 704,099 (826 ) 703,273 Consumer 365,332 294 36 365,662 (518 ) 365,144 Leases 3,140 — — 3,140 — 3,140 Total $ 2,838,696 $ 25,799 $ 66,588 $ 2,931,083 $ 1,115 $ 2,932,198

ALLOWANCE FOR LOAN AND LEASE 39

ALLOWANCE FOR LOAN AND LEASE LOSSES (Tables)	12 Months Ended
	Dec. 31, 2015
Receivables [Abstract]
Schedule of activity in the allowance, by class	The following table presents by class, the activity in the Allowance for the periods indicated: Commercial, Real estate Financial & Construction Mortgage - Mortgage - Consumer Leases Unallocated Total (Dollars in thousands) Year ended December 31, 2015 Beginning balance $ 8,954 $ 14,969 $ 17,927 $ 20,869 $ 7,314 $ 7 $ 4,000 $ 74,040 Provision (credit) for loan and lease losses (1,179 ) (7,395 ) (2,256 ) (4,903 ) 1,956 (34 ) (1,860 ) (15,671 ) 7,775 7,574 15,671 15,966 9,270 (27 ) 2,140 58,369 Charge-offs 5,658 — 110 838 4,650 — — 11,256 Recoveries 4,788 880 2,177 6,719 1,610 27 — 16,201 Net charge-offs (recoveries) 870 (880 ) (2,067 ) (5,881 ) 3,040 (27 ) — (4,945 ) Ending balance $ 6,905 $ 8,454 $ 17,738 $ 21,847 $ 6,230 $ — $ 2,140 $ 63,314 Year ended December 31, 2014 Beginning balance $ 13,196 $ 2,774 $ 25,272 $ 29,947 $ 6,576 $ 55 $ 6,000 $ 83,820 Provision (credit) for loan and lease losses (1,522 ) 10,155 (8,198 ) (8,090 ) 3,289 (48 ) (2,000 ) (6,414 ) 11,674 12,929 17,074 21,857 9,865 7 4,000 77,406 Charge-offs 5,046 — 139 1,041 3,703 8 — 9,937 Recoveries 2,326 2,040 992 53 1,152 8 — 6,571 Net charge-offs (recoveries) 2,720 (2,040 ) (853 ) 988 2,551 — — 3,366 Ending balance $ 8,954 $ 14,969 $ 17,927 $ 20,869 $ 7,314 $ 7 $ 4,000 $ 74,040 Year ended December 31, 2013 Beginning balance $ 4,987 $ 4,510 $ 27,836 $ 50,574 $ 2,421 $ 85 $ 6,000 $ 96,413 Provision (credit) for loan and lease losses 9,634 (4,974 ) (2,588 ) (18,099 ) 5,093 (376 ) — (11,310 ) 14,621 (464 ) 25,248 32,475 7,514 (291 ) 6,000 85,103 Charge-offs 2,812 358 1,083 6,768 1,595 — — 12,616 Recoveries 1,387 3,596 1,107 4,240 657 346 — 11,333 Net charge-offs 1,425 (3,238 ) (24 ) 2,528 938 (346 ) — 1,283 Ending balance $ 13,196 $ 2,774 $ 25,272 $ 29,947 $ 6,576 $ 55 $ 6,000 $ 83,820
Schedule of changes in the allowance for loan and lease losses for impaired loans	Changes in the allowance for loan and lease losses for impaired loans (included in the above amounts) were as follows: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Balance, beginning of year $ 1,533 $ 349 $ 3,011 Provision for loan and lease losses 51 1,354 — Other changes (1,533 ) (170 ) (2,662 ) Balance, end of year $ 51 $ 1,533 $ 349

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Schedule of premises and equipment	Premises and equipment consisted of the following as of December 31, 2015 and 2014 : December 31, 2015 2014 (Dollars in thousands) Land $ 9,006 $ 9,006 Office buildings and improvements 100,892 98,081 Furniture, fixtures and equipment 30,963 36,916 Gross premises and equipment 140,861 144,003 Accumulated depreciation and amortization (91,700 ) (94,789 ) Net premises and equipment $ 49,161 $ 49,214
Schedule of operating expenses to which depreciation and amortization of premises and equipment were charged	Depreciation and amortization of premises and equipment were charged to the following operating expenses: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Net occupancy $ 3,997 $ 3,845 $ 3,702 Equipment 1,873 1,997 2,305 Total $ 5,870 $ 5,842 $ 6,007

OTHER INTANGIBLE ASSETS (Tables

OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in other intangible assets	The following table presents changes in other intangible assets for the periods presented: Core Mortgage Total (Dollars in thousands) Balance as of December 31, 2013 $ 12,704 $ 20,079 $ 32,783 Additions — 2,246 2,246 Amortization (2,675 ) (2,657 ) (5,332 ) Balance as of December 31, 2014 $ 10,029 $ 19,668 $ 29,697 Additions — 2,314 2,314 Amortization (2,674 ) (4,185 ) (6,859 ) Balance as of December 31, 2015 $ 7,355 $ 17,797 $ 25,152
Schedule of gross carrying value and accumulated amortization related to intangible assets	The gross carrying value, accumulated amortization and net carrying value related to our other intangible assets are presented below: December 31, 2015 December 31, 2014 Gross Accumulated Net Gross Accumulated Net (Dollars in thousands) Core deposit premium $ 44,642 $ (37,287 ) $ 7,355 $ 44,642 $ (34,613 ) $ 10,029 Mortgage servicing rights 59,001 (41,204 ) 17,797 56,687 (37,019 ) 19,668 Total $ 103,643 $ (78,491 ) $ 25,152 $ 101,329 $ (71,632 ) $ 29,697
Schedule of estimated amortization expense	Based on our other intangible assets held as of December 31, 2015 , estimated amortization expense for the next five succeeding fiscal years and all years thereafter are as follows: Estimated Amortization Expense Core Deposit Mortgage Total (Dollars in thousands) 2016 $ 2,674 $ 2,393 $ 5,067 2017 2,674 1,720 4,394 2018 2,007 1,265 3,272 2019 — 878 878 2020 — 584 584 Thereafter — 10,957 10,957 Total $ 7,355 $ 17,797 $ 25,152
Schedule of fair market value and key assumptions used in determining the fair market value of our mortgage servicing rights	The following table presents the fair market value and key assumptions used in determining the fair market value of our mortgage servicing rights: Year Ended December 31, 2015 2014 (Dollars in thousands) Fair market value, beginning of period $ 19,975 $ 21,399 Fair market value, end of period 18,345 19,975 Weighted average discount rate 9.5 % 9.5 % Weighted average prepayment speed assumption 14.3 % 13.2 %

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of the location of all assets and liabilities associated with derivative instruments within the consolidated balance sheet	The following table presents the location of all assets and liabilities associated with our derivative instruments within the consolidated balance sheet: Asset Derivatives Liability Derivatives Derivatives not designated as Balance Sheet Fair Value at Fair Value at Fair Value at Fair Value at hedging instruments Location December 31, 2015 December 31, 2014 December 31, 2015 December 31, 2014 (Dollars in thousands) Interest rate contracts Other assets / other liabilities $ 68 $ 504 $ 9 $ 122
Schedule of the impact of derivative instruments and their location within the consolidated statements of income	The following tables present the impact of derivative instruments and their location within the consolidated statements of income: Derivatives not in Cash Flow Location of Gain Recognized Amount of Gain (Loss) Recognized (Dollars in thousands) Year ended December 31, 2015 Interest rate contracts Other operating income $ (324 ) Year ended December 31, 2014 Interest rate contracts Other operating income 294

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2015
Deposits [Abstract]
Schedule of maturities of time deposits of $100,000 or more	Maturities of time deposits of $100,000 or more as of December 31, 2015 were as follows (in thousands): December 31, 2015 (Dollars in thousands) Three months or less $ 489,641 Over three through six months 238,248 Over six through twelve months 79,869 2017 18,546 2018 12,595 2019 7,657 2020 4,705 Thereafter — Total $ 851,261

SHORT-TERM BORROWINGS (Tables)

SHORT-TERM BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2015
Short-term Debt [Abstract]
Schedule of short-term borrowings	A summary of our short-term borrowings as of December 31, 2015 , 2014 and 2013 is as follows: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Amount outstanding at December 31 $ 69,000 $ 38,000 $ 8,015 Average amount outstanding during year 92,045 31,732 1,988 Highest month-end balance during year 157,000 102,000 28,000 Weighted average interest rate on balances outstanding at December 31 0.35 % 0.25 % 0.23 % Weighted average interest rate during year 0.28 % 0.29 % 0.32 %

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2015
Long-term Debt, Unclassified [Abstract]
Schedule of long-term debt, based on original maturity	Long-term debt, which is based on original maturity, consisted of the following at December 31, 2015 and 2014 : December 31, 2015 2014 (Dollars in thousands) Subordinated debentures 92,785 92,785 $ 92,785 $ 92,785
Schedule of future principal payments on long-term debt based on final maturity	At December 31, 2015 , future principal payments on long-term debt based on final maturity are as follows (in thousands): December 31, 2015 (Dollars in thousands) Year ending December 31: 2016 $ — 2017 — 2018 — 2019 — 2020 — Thereafter 92,785 Total $ 92,785

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of the effects of share-based compensation to options and awards granted under the Company's equity incentive plans	The following table summarizes the effects of share-based compensation to options and awards granted under the Company’s equity incentive plans for each of the periods presented: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Salaries and employee benefits $ 4,181 $ 6,101 $ 6,367 Directors stock awards 78 37 45 Income tax benefit (1,694 ) (2,443 ) (2,570 ) Net share-based compensation effect $ 2,565 $ 3,695 $ 3,842
Summary of option activity for stock option plans	The following is a summary of option activity for our stock option plans for the year ended December 31, 2015 : Shares Weighted Weighted Average Remaining Contractual Term (in years) Aggregate Outstanding at January 1, 2015 286,407 $ 33.32 Changes during the year: Exercised (25,040 ) 14.37 Expired (4,177 ) 730.00 Forfeited (17,773 ) 48.60 Outstanding at December 31, 2015 239,417 22.01 6.2 $ 1,778 Exercisable at December 31, 2015 163,109 25.61 6.2 1,192
Schedule of activity of restricted stock awards and units	The table below presents the activity of restricted stock awards and units for the year ended December 31, 2015 : Shares Weighted Unvested at January 1, 2015 715,460 $ 15.77 Changes during the year: Granted 173,897 19.50 Forfeited (82,373 ) 16.73 Vested (343,067 ) 15.21 Unvested at December 31, 2015 463,917 17.41

PENSION PLANS (Tables)

PENSION PLANS (Tables)	12 Months Ended
	Dec. 31, 2015
Pension Plan
PENSION PLANS
Schedule of information pertaining to the defined benefit retirement plan	The following tables set forth information pertaining to the defined benefit retirement plan: Year Ended December 31, 2015 2014 (Dollars in thousands) Change in benefit obligation Benefit obligation at beginning of year $ 36,330 $ 32,183 Interest cost 1,383 1,485 Actuarial (gains) losses (2,228 ) 5,709 Benefits paid (2,418 ) (3,047 ) Benefit obligation at end of the year 33,067 36,330 Change in plan assets Fair value of plan assets at beginning of year 27,891 27,782 Actual return on plan assets (152 ) 1,813 Employer contributions 1,000 1,343 Benefits paid (2,418 ) (3,047 ) Fair value of plan assets at end of year 26,321 27,891 Funded status at end of year $ (6,746 ) $ (8,439 ) Amounts recognized in AOCI Net actuarial losses $ (13,887 ) $ (15,647 ) Benefit obligation actuarial assumptions Weighted average discount rate 4.3 % 4.0 % Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Components of net periodic benefit cost Interest cost $ 1,383 $ 1,485 $ 1,370 Expected return on plan assets (1,893 ) (1,924 ) (1,762 ) Amortization of net actuarial losses 1,577 1,068 2,390 Net periodic benefit cost $ 1,067 $ 629 $ 1,998 Net periodic cost actuarial assumptions Weighted average discount rate 4.0 % 4.7 % 4.0 % Expected long-term rate of return on plan assets 7.0 % 7.0 % 7.5 %
Schedule of asset allocations by asset category	The defined benefit retirement plan assets consist primarily of equity and debt securities. Our asset allocations by asset category were as follows: December 31, 2015 2014 Equity securities 40.6 % 56.1 % Debt securities 41.6 41.8 Other 17.8 2.1 Total 100.0 % 100.0 %
Schedule of fair values of the defined benefit retirement plan by asset category	The fair values of the defined benefit retirement plan as of December 31, 2015 and 2014 by asset category were as follows: Level 1 Level 2 Level 3 Total (Dollars in thousands) December 31, 2015 Money market accounts $ 4,672 $ — $ — $ 4,672 Mutual funds 9,140 — — 9,140 Government obligations — 4,117 — 4,117 Common stocks 5,552 — — 5,552 Preferred stocks 187 — — 187 Corporate bonds and debentures — 2,653 — 2,653 $ 19,551 $ 6,770 $ — $ 26,321 December 31, 2014 Money market accounts $ 958 $ — $ — $ 958 Mutual funds 9,946 — — 9,946 Government obligations — 3,900 — 3,900 Common stocks 9,765 — — 9,765 Preferred stocks 250 — — 250 Corporate bonds and debentures — 3,072 — 3,072 $ 20,919 $ 6,972 $ — $ 27,891
Schedule of estimated future benefit payments	Estimated future benefit payments are as follows (in thousands): Year Ending December 31: 2016 $ 2,531 2017 2,494 2018 2,479 2019 2,435 2020 2,390 2021-2025 11,131 Total $ 23,460
SERPs
PENSION PLANS
Schedule of information pertaining to the defined benefit retirement plan	The following tables set forth information pertaining to the SERP: Year Ended December 31, 2015 2014 (Dollars in thousands) Change in benefit obligation Benefit obligation at beginning of year $ 10,930 $ 9,107 Interest cost 440 450 Actuarial (gains) losses (504 ) 1,588 Benefits paid (215 ) (215 ) Benefit obligation at end of year 10,651 10,930 Change in plan assets Fair value of plan assets at beginning of year — — Employer contributions 215 215 Benefits paid (215 ) (215 ) Fair value of plan assets at end of year — — Funded status at end of year $ 10,651 $ 10,930 Amounts recognized in AOCI Net transition obligation $ (129 ) $ (147 ) Prior service cost (84 ) (101 ) Net actuarial losses (1,353 ) (1,965 ) Total amounts recognized in AOCI $ (1,566 ) $ (2,213 ) Benefit obligation actuarial assumptions Weighted average discount rate 4.4 % 4.1 % Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Components of net periodic benefit cost Interest cost $ 440 $ 450 $ 411 Amortization of net transition obligation 16 17 17 Amortization of prior service cost 18 18 18 Amortization of net actuarial (gains) losses 111 2 71 Net periodic benefit cost $ 585 $ 487 $ 517 Net periodic cost actuarial assumptions Weighted average discount rate 4.1 % 5.0 % 4.2 %
Schedule of estimated amortization of components included in AOCI that will be recognized into net periodic cost in the next fiscal year	The estimated amortization of components included in AOCI that will be recognized into net periodic cost for 2016 is as follows (in thousands): Amortization of net transition obligation $ 17 Amortization of prior service cost 18 Amortization of net actuarial losses 111
Schedule of estimated future benefit payments	Estimated future benefit payments reflecting expected future service for the SERP are as follows (in thousands): Year Ending December 31: 2016 $ 232 2017 423 2018 419 2019 415 2020 407 2021-2025 3,116 Total $ 5,012

OPERATING LEASES (Tables)

OPERATING LEASES (Tables)	12 Months Ended
	Dec. 31, 2015
Leases, Operating [Abstract]
Schedule of net rent expense for all operating leases	Net rent expense for all operating leases for the years ended December 31, 2015 , 2014 and 2013 is summarized as follows: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Rent expense charged to net occupancy $ 9,287 $ 10,210 $ 9,840 Less sublease income (25 ) — (52 ) Net rent expense charged to net occupancy 9,262 10,210 9,788 Rent expense charged to equipment expense 30 53 93 Total net rent expense $ 9,292 $ 10,263 $ 9,881
Schedule of future minimum rental commitments for all noncancellable operating leases that had initial lease terms in excess of one year	The following is a schedule of future minimum rental commitments for all noncancellable operating leases that had initial lease terms in excess of one year at December 31, 2015 (in thousands): Year Ending December 31: 2016 $ 7,317 2017 5,991 2018 4,903 2019 4,095 2020 3,640 Thereafter 23,817 Total $ 49,763
Schedule of future minimum rental income for noncancellable operating leases that had initial lease terms in excess of one year	The following is a schedule of future minimum rental income for those noncancellable operating leases that had initial lease terms in excess of one year at December 31, 2015 (in thousands): Year Ending December 31: 2016 $ 2,602 2017 2,063 2018 1,170 2019 559 2020 248 Thereafter 421 Total $ 7,063

INCOME AND FRANCHISE TAXES (Tab

INCOME AND FRANCHISE TAXES (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of components of income tax expense (benefit)	Components of income tax expense (benefit) for the years ended December 31, 2015 , 2014 and 2013 were as follows: Current Deferred Total (Dollars in thousands) Year ended December 31, 2015 Federal $ 1,128 $ 20,061 $ 21,189 State (119 ) 6,018 5,899 Total $ 1,009 $ 26,079 $ 27,088 Year ended December 31, 2014 Federal $ — $ 18,710 $ 18,710 State (93 ) 1,772 1,679 Total $ (93 ) $ 20,482 $ 20,389 Year ended December 31, 2013 Federal $ — $ (81,613 ) $ (81,613 ) State (109 ) (30,525 ) (30,634 ) Total $ (109 ) $ (112,138 ) $ (112,247 )
Schedule of the reasons of difference between the income tax expense (benefit) and the expected tax expense	Income tax expense (benefit) for the periods presented differed from the “expected” tax expense (computed by applying the U.S. Federal corporate tax rate of 35% to income (loss) before income taxes) for the following reasons: Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Computed “expected” tax expense (benefit) $ 25,535 $ 21,295 $ 20,940 Increase (decrease) in taxes resulting from: Tax-exempt interest (1,420 ) (1,412 ) (1,431 ) Other tax-exempt income (712 ) (1,023 ) (810 ) Low-income housing and energy tax credits (1,225 ) (2,088 ) (1,557 ) State income taxes, net of Federal income tax effect, excluding impact of deferred tax valuation allowance 3,958 2,638 2,389 Change in the beginning-of-the-year balance of the valuation allowance for deferred tax assets allocated to income tax expense (44 ) (180 ) (129,806 ) Other 996 1,159 (1,972 ) Total $ 27,088 $ 20,389 $ (112,247 )
Schedule of the tax effects of temporary differences giving rise to significant portions of the deferred tax assets and deferred tax liabilities	The tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities were as follows: December 31, 2015 2014 (Dollars in thousands) Deferred tax assets Allowance for loan and lease losses $ 22,275 $ 26,052 Accrued expenses 2,555 2,981 Employee retirement benefits 6,921 11,023 Federal and state tax credit carryforwards 34,821 30,593 Interest on nonaccrual loans 606 1,600 Federal and state net operating loss carryforwards 19,850 57,173 Restricted stock and nonqualified stock options 1,049 — Other 9,227 13,357 Total deferred tax assets $ 97,304 $ 142,779 Deferred tax liabilities Intangible assets $ 10,006 $ 11,803 FHLB stock dividends received — 10,742 Leases 423 1,203 Deferred gain on curtailed retirement plan — 3,315 Liability on utilization of state tax credits — 6,237 Other 2,093 2,234 Total deferred tax liabilities $ 12,522 $ 35,534 Deferred tax valuation allowance $ 2,803 $ 2,847 Net deferred tax assets $ 81,979 $ 104,398

ACCUMULATED OTHER COMPREHENSI50

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of components of other comprehensive income (loss)	The following table presents the components of other comprehensive income (loss) for the years ended December 31, 2015 , 2014 and 2013 , by component: Before Tax Tax Effect Net of Tax (Dollars in thousands) Year ended December 31, 2015 Net unrealized losses on investment securities: Net unrealized losses arising during the period $ (9,184 ) $ (3,655 ) $ (5,529 ) Less: Reclassification adjustment for losses realized in net income 1,866 742 1,124 Net unrealized losses on investment securities (7,318 ) (2,913 ) (4,405 ) Defined benefit plans: Net actuarial gains arising during the period 687 274 413 Amortization of net actuarial losses 1,688 672 1,016 Amortization of net transition obligation 16 7 9 Amortization of prior service cost 18 7 11 Defined benefit plans, net 2,409 960 1,449 Other comprehensive income $ (4,909 ) $ (1,953 ) $ (2,956 ) Year ended December 31, 2014 Net unrealized gains on investment securities: Net unrealized gains arising during the period $ 36,780 $ 14,714 $ 22,066 Less: Reclassification adjustment for losses realized in net income 1,071 426 645 Net unrealized gains on investment securities 37,851 15,140 22,711 Defined benefit plans: Net actuarial losses arising during the period (7,409 ) (3,052 ) (4,357 ) Amortization of net actuarial losses 1,070 441 629 Amortization of net transition obligation 17 7 10 Amortization of prior service cost 18 7 11 Defined benefit plans, net (6,304 ) (2,597 ) (3,707 ) Other comprehensive income $ 31,547 $ 12,543 $ 19,004 Year ended December 31, 2013 Net unrealized losses on investment securities: Net unrealized losses arising during the period $ (43,687 ) $ (15,577 ) $ (28,110 ) Less: Reclassification adjustment for gains realized in net income (6,266 ) (2,511 ) (3,755 ) Before Tax Tax Effect Net of Tax (Dollars in thousands) Net unrealized losses on investment securities (49,953 ) (18,088 ) (31,865 ) Net unrealized losses on derivatives: Reclassification adjustment for losses realized in net income 394 (10,599 ) 10,993 Net unrealized losses on derivatives 394 (10,599 ) 10,993 Defined benefit plans: Net actuarial gains arising during the period 6,952 2,591 4,361 Amortization of net actuarial losses 2,461 986 1,475 Amortization of net transition obligation 17 7 10 Amortization of prior service cost 18 7 11 Defined benefit plans, net 9,448 3,591 5,857 Other comprehensive loss $ (40,111 ) $ (25,096 ) $ (15,015 )
Schedule of changes in each component of AOCI, net of tax	The following table presents the changes in each component of AOCI, net of tax, for the years ended December 31, 2015 , 2014 and 2013 : Investment Derivatives Defined Accumulated Other Comprehensive Income (Loss) (Dollars in thousands) Year ended December 31, 2015 Balance at beginning of period $ 13,586 $ — $ (10,427 ) $ 3,159 Other comprehensive income (loss) before reclassifications (5,529 ) — 413 (5,116 ) Amounts reclassified from AOCI 1,124 — 1,036 2,160 Total other comprehensive income (loss) (4,405 ) — 1,449 (2,956 ) Balance at end of period $ 9,181 $ — $ (8,978 ) $ 203 Year ended December 31, 2014 Balance at beginning of period $ (9,125 ) $ — $ (6,720 ) $ (15,845 ) Other comprehensive income (loss) before reclassifications 22,066 — (4,357 ) 17,709 Amounts reclassified from AOCI 645 — 650 1,295 Total other comprehensive income (loss) 22,711 — (3,707 ) 19,004 Balance at end of period $ 13,586 $ — $ (10,427 ) $ 3,159 Year ended December 31, 2013 Balance at beginning of period $ 22,740 $ (10,993 ) $ (12,577 ) $ (830 ) Other comprehensive loss before reclassifications (28,110 ) — 4,361 (23,749 ) Amounts reclassified from AOCI (3,755 ) 10,993 1,496 8,734 Total other comprehensive loss (31,865 ) 10,993 5,857 (15,015 ) Balance at end of period $ (9,125 ) $ — $ (6,720 ) $ (15,845 )
Schedule of amounts reclassified out of each component of AOCI	The following table presents the amounts reclassified out of each component of AOCI for the years ended December 31, 2015 , 2014 and 2013 : Amount Reclassified from AOCI Affected Line Item in the Details about AOCI Components (Dollars in Thousands) Year ended December 31, Statement Where Net 2015 2014 2013 Income is Presented Sale of investment securities available for sale $ (1,866 ) $ (1,071 ) $ 6,266 Investment securities gains (losses) 742 426 (2,511 ) Tax (expense) benefit $ (1,124 ) $ (645 ) $ 3,755 Net of tax Unrealized gains (losses) on derivatives $ — $ — $ (394 ) Interest income — — (10,599 ) Tax expense $ — $ — $ (10,993 ) Net of tax Amortization of defined benefit plan items Net actuarial losses $ (1,688 ) $ (1,070 ) $ (2,461 ) (1) Net transition obligation (16 ) (17 ) (17 ) (1) Prior service cost (18 ) (18 ) (18 ) (1) (1,722 ) (1,105 ) (2,496 ) Total before tax 686 455 1,000 Tax benefit $ (1,036 ) $ (650 ) $ (1,496 ) Net of tax Total reclassifications for the period $ (2,160 ) $ (1,295 ) $ (8,734 ) Net of tax

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Schedule of information used to compute basic and diluted earnings per share	The table below presents the information used to compute basic and diluted earnings per share for the years ended December 31, 2015 , 2014 and 2013 : Year Ended December 31, 2015 2014 2013 (In thousands, except per share data) Net income $ 45,868 $ 40,453 $ 172,075 Weighted average shares outstanding - basic 32,238 37,366 41,961 Dilutive effect of employee stock options and awards 413 571 341 Dilutive effect of deferred salary restricted stock units — — 1 Dilutive effect of Treasury warrants — — 14 Weighted average shares outstanding - diluted 32,651 37,937 42,317 Basic earnings per share $ 1.42 $ 1.08 $ 4.10 Diluted earnings per share $ 1.40 $ 1.07 $ 4.07

FINANCIAL INSTRUMENTS WITH OF52

FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK (Tables)	12 Months Ended
	Dec. 31, 2015
Investments, All Other Investments [Abstract]
Schedule of financial instruments with off-balance sheet risk	At December 31, 2015 and 2014 , financial instruments with off-balance sheet risk were as follows: December 31, 2015 2014 (Dollars in thousands) Financial instruments whose contract amounts represent credit risk: Commitments to extend credit $ 801,835 $ 720,255 Standby letters of credit and financial guarantees written 13,434 18,797 Financial instruments whose contract amounts exceed the amount of credit risk: Interest rate options 24,009 44,266 Forward interest rate contracts 9,973 23,919

FAIR VALUE OF ASSETS AND LIAB53

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of carrying amount and estimated fair value of financial instruments	Fair Value Measurement Using Carrying Estimated Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant (Dollars in thousands) December 31, 2015 Financial assets Cash and due from banks $ 71,797 $ 71,797 $ 71,797 $ — $ — Interest-bearing deposits in other banks 8,397 8,397 8,397 — — Investment securities 1,520,172 1,516,391 916 1,502,996 12,479 Loans held for sale 14,109 14,109 — — 14,109 Net loans and leases 3,148,218 3,094,404 — 38,205 3,056,199 Accrued interest receivable 14,898 14,898 14,898 — — Financial liabilities Deposits: Noninterest-bearing deposits 1,145,244 1,145,244 1,145,244 — — Interest-bearing demand and savings deposits 2,223,988 2,223,988 2,223,988 — — Time deposits 1,064,207 1,064,255 — — 1,064,255 Short-term debt 69,000 69,000 — 69,000 — Long-term debt 92,785 67,421 — 67,421 — Accrued interest payable (included in other liabilities) 1,072 1,072 1,072 — — Off-balance sheet financial instruments Commitments to extend credit 801,835 1,014 — 1,014 — Standby letters of credit and financial guarantees written 13,434 202 — 202 — Interest rate options 24,009 43 — 43 — Forward interest rate contracts 9,973 15 — 15 — December 31, 2014 Financial assets Cash and due from banks $ 72,316 $ 72,316 $ 72,316 $ — $ — Interest-bearing deposits in other banks 13,691 13,691 13,691 — — Investment securities 1,467,305 1,464,615 877 1,450,643 13,095 Loans held for sale 9,683 9,683 — — 9,683 Net loans and leases 2,858,158 2,752,420 — 70,743 2,681,677 Accrued interest receivable 13,584 13,584 13,584 — — Financial liabilities Deposits: Noninterest-bearing deposits 1,034,146 1,034,146 1,034,146 — — Interest-bearing demand and savings deposits 2,030,870 2,030,870 2,030,870 — — Time deposits 1,045,284 1,047,322 — — 1,047,322 Short-term debt 38,000 38,000 — 38,000 — Long-term debt 92,785 42,454 — 42,454 — Accrued interest payable (included in other liabilities) 1,018 1,018 1,018 — — Off-balance sheet financial instruments Commitments to extend credit 720,255 3,601 — 3,601 — Standby letters of credit and financial guarantees written 18,797 141 — 141 — Interest rate options 44,266 444 — 444 — Forward interest rate contracts 23,919 (62 ) — (62 ) —
Schedule of balances of assets and liabilities measured at fair value on a recurring basis	The following table below presents the balances of assets and liabilities measured at fair value on a recurring basis: Fair Value at Reporting Date Using Fair Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant (Dollars in thousands) December 31, 2015 Available for sale securities: Debt securities: States and political subdivisions $ 190,473 $ — $ 177,994 $ 12,479 Corporate securities 108,571 — 108,571 — Mortgage-backed securities: U.S. Government sponsored entities 771,909 — 771,909 — Non-agency collateralized mortgage obligations 200,386 — 200,386 — Other 916 916 — — Derivatives - Interest rate contracts 59 — 59 — Total $ 1,272,314 $ 916 $ 1,258,919 $ 12,479 December 31, 2014 Available for sale securities: Debt securities: States and political subdivisions $ 191,645 $ — $ 178,550 $ 13,095 Corporate securities 100,604 — 100,604 — Mortgage-backed securities: U.S. Government sponsored entities 751,558 — 751,558 — Non-agency collateralized mortgage obligations 184,334 — 184,334 — Other 877 877 — — Derivatives - Interest rate contracts 382 — 382 — Total $ 1,229,400 $ 877 $ 1,215,428 $ 13,095
Schedule of changes in Level 3 assets and liabilities measured at fair value on a recurring basis	The changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: Available for Sale Debt (Dollars in thousands) Balance at December 31, 2013 $ 10,518 Principal payments received (275 ) Purchases 2,706 Unrealized net loss included in other comprehensive loss 146 Balance at December 31, 2014 $ 13,095 Principal payments received (987 ) Purchases — Unrealized net gain included in other comprehensive income 371 Balance at December 31, 2015 $ 12,479
Schedule of level of valuation assumptions used to determine the fair value of assets measured on a nonrecurring basis	For assets measured at fair value on a nonrecurring basis that were recorded at fair value on our balance sheet, the following table provides the level of valuation assumptions used to determine the respective fair values: Fair Value Measurements Using Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Total (Dollars in thousands) December 31, 2015 Impaired loans (1) $ 38,153 $ — $ 38,153 $ — $ 111 Other real estate (2) 1,962 — 1,962 — 220 $ 331 December 31, 2014 Impaired loans (1) $ 70,743 $ — $ 70,743 $ — $ 2,532 Other real estate (2) 2,948 — 2,948 — 1,540 $ 4,072 (1) Represents carrying value and related write-downs of loans for which adjustments are based on agreed upon purchase prices for the loans or the appraised value of the collateral. (2) Represents other real estate that is carried at the lower of carrying value or fair value less costs to sell. Fair value is generally based upon independent market prices or appraised values of the collateral.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Schedule of segment profits (losses) and assets	Segment net income (loss) and assets are provided in the following table for the periods indicated: Banking Treasury All Others Total (Dollars in thousands) Year ended December 31, 2015 Net interest income $ 115,936 $ 33,592 $ — $ 149,528 Intersegment net interest income (expense) 43,686 (31,576 ) (12,110 ) — Credit (provision) for loan and lease losses 15,671 — — 15,671 Other operating income 23,447 967 14,570 38,984 Other operating expense (59,273 ) (1,859 ) (70,095 ) (131,227 ) Administrative and overhead expense allocation (59,266 ) (1,042 ) 60,308 — Income taxes (28,070 ) (29 ) 1,011 (27,088 ) Net income (loss) $ 52,131 $ 53 $ (6,316 ) $ 45,868 At December 31, 2015: Investment securities $ — $ 1,520,172 $ — $ 1,520,172 Loans and leases (including loans held for sale) 3,225,641 — — 3,225,641 Other 74,963 226,172 84,340 385,475 Total assets $ 3,300,604 $ 1,746,344 $ 84,340 $ 5,131,288 Year ended December 31, 2014 Net interest income $ 108,815 $ 34,603 $ — $ 143,418 Intersegment net interest income (expense) 34,308 (33,356 ) (952 ) — Credit (provision) for loan and lease losses 6,414 — — 6,414 Other operating income 24,496 4,042 15,285 43,823 Other operating expense (60,587 ) (2,086 ) (70,140 ) (132,813 ) Administrative and overhead expense allocation (59,610 ) (1,126 ) 60,736 — Income taxes (18,843 ) (727 ) (819 ) (20,389 ) Net income $ 34,993 $ 1,350 $ 4,110 $ 40,453 At December 31, 2014: Investment securities $ — $ 1,467,305 $ — $ 1,467,305 Loans and leases (including loans held for sale) 2,941,881 — — 2,941,881 Other 111,071 248,455 84,275 443,801 Total assets $ 3,052,952 $ 1,715,760 $ 84,275 $ 4,852,987 Year ended December 31, 2013 Net interest income $ 101,282 $ 31,827 $ — $ 133,109 Intersegment net interest income (expense) 16,947 (30,675 ) 13,728 — Credit (provision) for loan and lease losses 11,310 — — 11,310 Other operating income 26,140 3,137 25,668 54,945 Other operating expense (58,891 ) (3,788 ) (76,857 ) (139,536 ) Administrative and overhead expense allocation (54,851 ) (2,004 ) 56,855 — 117,088 218 (5,059 ) 112,247 Net income (loss) $ 159,025 $ (1,285 ) $ 14,335 $ 172,075

PARENT COMPANY AND REGULATORY55

PARENT COMPANY AND REGULATORY RESTRICTIONS (Tables)	12 Months Ended
	Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Schedule of actual and required capital ratios as well as the minimum capital adequacy requirements applicable generally to all financial institutions	The following table sets forth actual and required capital and capital ratios for the Company and the bank, as well as the minimum capital adequacy requirements applicable generally to all financial institutions as of the dates indicated. The Company’s and the bank’s leverage capital, Tier 1, total risk-based capital ratios, and common equity Tier 1 (CET1) risk based capital as of December 31, 2015 were above the levels required for a “well-capitalized” regulatory designation. Actual Minimum required for Minimum required to Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Company As of December 31, 2015 Leverage capital $ 532,787 10.7 % $ 199,350 4.0 % $ 249,187 5.0 % Tier 1 risk-based capital 532,787 14.4 221,808 6.0 295,745 8.0 Total risk-based capital 579,651 15.7 295,745 8.0 369,681 10.0 CET1 risk-based capital 472,698 12.8 166,356 4.5 240,292 6.5 As of December 31, 2014 Leverage capital 562,063 12.0 186,922 4.0 233,652 5.0 Tier 1 risk-based capital 562,063 17.0 132,475 4.0 198,712 6.0 Total risk-based capital 603,939 18.2 264,949 8.0 331,187 10.0 Central Pacific Bank As of December 31, 2015 Leverage capital 518,617 10.4 199,098 4.0 248,872 5.0 Tier 1 risk-based capital 518,617 14.1 221,435 6.0 295,247 8.0 Total risk-based capital 565,231 15.3 295,247 8.0 369,058 10.0 CET1 risk-based capital 518,617 14.1 166,076 4.5 239,888 6.5 As of December 31, 2014 Leverage capital 540,273 11.6 186,828 4.0 233,535 5.0 Tier 1 risk-based capital 540,273 16.3 132,376 4.0 198,564 6.0 Total risk-based capital 582,068 17.6 264,752 8.0 330,940 10.0
Schedule of condensed balance sheets	December 31, 2015 2014 (Dollars in thousands) Assets Cash and cash equivalents $ 12,559 $ 22,775 Investment securities available for sale 917 877 Investment in subsidiary bank, at equity in underlying net assets 551,156 612,505 Investment in other subsidiaries, at equity in underlying assets — — Accrued interest receivable and other assets 24,560 26,136 Total assets $ 589,192 $ 662,293 Liabilities and Shareholders’ Equity Long-term debt $ 92,785 $ 92,785 Other liabilities 1,768 1,467 Total liabilities 94,553 94,252 Shareholders’ equity: Preferred stock, no par value, authorized 1,100,000 shares; issued and outstanding none at December 31, 2015 and 2014 — — Common stock, no par value, authorized 185,000,000 shares; issued and outstanding 31,361,452 and 35,233,674 shares at December 31, 2015 and 2014, respectively 548,878 642,205 Surplus 82,847 79,716 Accumulated deficit (137,314 ) (157,039 ) Accumulated other comprehensive income (loss) 203 3,159 Total shareholders’ equity 494,614 568,041 Non-controlling interest $ 25 $ — Total Equity $ 494,639 $ 568,041 Total liabilities and shareholders’ equity $ 589,192 $ 662,293
Schedule of condensed statements of operations	Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Income: Dividends from subsidiary banks $ 111,765 $ 159,319 $ — Interest income: Interest from subsidiary banks 9 16 30 Other income 91 89 2,001 Total income 111,865 159,424 2,031 Expense: Interest on long-term debt 2,626 2,572 3,118 Other expenses 2,551 2,262 2,679 Total expenses 5,177 4,834 5,797 Gain (loss) before income taxes and equity in undistributed income of subsidiaries 106,688 154,590 (3,766 ) Income tax expense (benefit) 670 (2,520 ) (31,891 ) Income before equity in undistributed income of subsidiaries 106,018 157,110 28,125 Equity in undistributed income (loss) of subsidiary bank (60,150 ) (116,657 ) 143,945 Equity in undistributed income of other subsidiaries — — 5 Net income $ 45,868 $ 40,453 $ 172,075
Schedule of condensed statements of cash flows	Year Ended December 31, 2015 2014 2013 (Dollars in thousands) Cash flows from operating activities Net income $ 45,868 $ 40,453 $ 172,075 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Deferred income tax expense (benefit) 670 (2,520 ) (25,707 ) Equity in undistributed income (loss) of subsidiary bank 60,150 116,657 (143,945 ) Equity in undistributed income of other subsidiaries — — (5 ) Share-based compensation 1,429 4,218 4,931 Accrued interest payable — — (11,919 ) Other, net 983 (923 ) (362 ) Net cash provided by (used in) operating activities 109,100 157,885 (4,932 ) Cash flows from investing activities Distributions from unconsolidated subsidiaries — 479 9,000 Contributions to unconsolidated subsidiaries — 518 (9,000 ) Net cash provided by investing activities — 997 — Cash flows from financing activities Net proceeds from issuance of common stock and stock option exercises 360 74 74 Repayments of long-term debt — — (15,464 ) Repurchases of common stock (93,533 ) (142,405 ) — Dividends paid (26,143 ) (13,405 ) (6,735 ) Net cash used in financing activities (119,316 ) (155,736 ) (22,125 ) Net increase (decrease) in cash and cash equivalents (10,216 ) 3,146 (27,057 ) Cash and cash equivalents At beginning of year 22,775 19,629 46,686 At end of year $ 12,559 $ 22,775 $ 19,629

UNAUDITED QUARTERLY FINANCIAL56

UNAUDITED QUARTERLY FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of unaudited quarterly financial information	First Second Third Fourth Full Year (Dollars in thousands, except per share data) 2015 Total interest income $ 37,781 $ 38,896 $ 39,442 $ 39,916 $ 156,035 Total interest expense 1,546 1,602 1,637 1,722 6,507 Net interest income 36,235 37,294 37,805 38,194 149,528 Provision (credit) for loan and lease losses (2,747 ) (7,319 ) (3,647 ) (1,958 ) (15,671 ) Net interest income after provision (credit) for loan and lease losses 38,982 44,613 41,452 40,152 165,199 Investment securities losses — (1,866 ) — (1,866 ) Income before income taxes 16,154 20,279 19,106 17,417 72,956 Net income 10,395 12,335 12,206 10,932 45,868 Basic earnings per share $ 0.30 $ 0.39 $ 0.39 $ 0.35 $ 1.42 Diluted earnings per share 0.29 0.39 0.38 0.34 1.40 2014 Total interest income $ 37,393 $ 37,536 $ 37,139 $ 37,741 $ 149,809 Total interest expense 1,597 1,630 1,607 1,557 6,391 Net interest income 35,796 35,906 35,532 36,184 143,418 Provision (credit) for loan and lease losses (1,316 ) 1,995 (1,722 ) (5,371 ) (6,414 ) Net interest income after provision (credit) for loan and lease losses 37,112 33,911 37,254 41,555 149,832 Investment securities gains — 240 — — 240 Income before income taxes 15,326 13,027 13,471 19,018 60,842 Net income 9,808 9,150 8,230 13,265 40,453 Basic earnings per share $ 0.23 $ 0.25 $ 0.23 $ 0.37 $ 1.08 Diluted earnings per share 0.23 0.25 0.23 0.37 1.07

SUMMARY OF SIGNIFICANT ACCOUN57

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Description of Business) (Details)	12 Months Ended
	Dec. 31, 2015branchsegmentmachine
SEGMENT INFORMATION
Number of reportable segments | segment	3
Central Bank
SEGMENT INFORMATION
Number of branches | branch	36
Number of ATMs | machine	103

SUMMARY OF SIGNIFICANT ACCOUN58

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Principles of Consolidation, Loans Held For Sale, Loans and Leases) (Details)	12 Months Ended
	Dec. 31, 2015USD ($)loansubsidiary	Dec. 31, 2013subsidiary	Dec. 31, 2014USD ($)
Consolidation
Investments in unconsolidated subsidiaries accounted for under the equity methods	$ 600,000		$ 500,000
Investments in unconsolidated subsidiaries accounted for under the cost methods	$ 5,500,000		6,700,000
Loans Held for Sale
Number of types of loans held for sale | loan	2
Residential mortgage repurchase reserves	$ 400,000		2,700,000
Loans
Holding period limit for placing loans on nonaccrual status	90 days
Interest income recognized	$ 0
Leases
Declined term of lease portfolio	7 years
Leases outstanding balance	$ 1,000,000		$ 3,100,000
One Hawaii HomeLoans, LLC
Consolidation
Ownership interest	50.00%
Pacific Access Mortgage LLC
Consolidation
Ownership interest	50.00%
Gentry Home Loans LLC
Consolidation
Ownership interest	50.00%
Haseko Home Loans LLC
Consolidation
Ownership interest	50.00%
Island Pacific HomeLoans, LLC
Consolidation
Ownership interest	50.00%
Central Bank
Consolidation
Number of wholly-owned subsidiaries | subsidiary		2
Number of wholly owned subsidiaries dissolved | subsidiary	2

SUMMARY OF SIGNIFICANT ACCOUN59

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Allowance for Loan and Lease Losses) (Details)	12 Months Ended	48 Months Ended
	Dec. 31, 2015methodquartersubsector	Dec. 31, 2013quarter
Loans and Leases Receivable, Allowance [Abstract]
Number of evaluation methods of loan and lease Allowance | method	3
Number of homogeneous subsectors in the loan portfolio | subsector	128
Number of rolling quarters used to evaluate Allowance	24
Number of additional rolling quarters used to evaluate Allowance	17
Number of criteria dividing the company's loan portfolio	6
Number of rolling quarters used to evaluate percentage change in personal income	4
Period used as baseline for personal income	10 years
Period used as baseline for unemployment rate change	10 years
Real Estate
Loans and Leases Receivable, Allowance [Abstract]
Number of rolling quarters used to evaluate Allowance		8
Other
Loans and Leases Receivable, Allowance [Abstract]
Number of rolling quarters used to evaluate Allowance		4

SUMMARY OF SIGNIFICANT ACCOUN60

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Premises and Equipment) (Details)	12 Months Ended
	Dec. 31, 2015
Office buildings and improvements | Minimum
Premises and Equipment
Useful life	5 years
Office buildings and improvements | Maximum
Premises and Equipment
Useful life	39 years
Equipment | Minimum
Premises and Equipment
Useful life	1 year
Equipment | Maximum
Premises and Equipment
Useful life	7 years

SUMMARY OF SIGNIFICANT ACCOUN61

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Other Intangible Assets and Non-Controlling Interest) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Other Intangible Assets
Non-controlling interest	$ 25	$ 0
Core Deposit Premium
Other Intangible Assets
Amortization Period	14 years

RESERVE REQUIREMENTS (Details)

RESERVE REQUIREMENTS (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Central Bank
RESERVE REQUIREMENTS
Amount held as a reserve	$ 59.5	$ 64.2

INVESTMENT SECURITIES (Availabl

INVESTMENT SECURITIES (Available for Sale and Held to Maturity Investment Securities) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Held to Maturity
Amortized cost	$ 247,917	$ 238,287
Gross unrealized gains	123	196
Gross unrealized losses	(3,904)	(2,886)
Estimated fair value	244,136	235,597
Available for Sale
Amortized cost	1,267,503	1,216,706
Gross unrealized gains	13,615	19,186
Gross unrealized losses	(8,863)	(6,874)
Available for sale, at fair value	1,272,255	1,229,018
Residential - U.S. Government sponsored entities
Held to Maturity
Amortized cost	152,315	140,741
Gross unrealized gains	123	196
Gross unrealized losses	(2,915)	(2,150)
Estimated fair value	149,523	138,787
Available for Sale
Amortized cost	771,657	744,527
Gross unrealized gains	5,885	11,064
Gross unrealized losses	(5,633)	(4,033)
Available for sale, at fair value	771,909	751,558
Commercial - U.S. Government sponsored entities
Held to Maturity
Amortized cost	95,602	97,546
Gross unrealized gains	0	0
Gross unrealized losses	(989)	(736)
Estimated fair value	94,613	96,810
Available for Sale
Amortized cost	135,439	135,630
Gross unrealized gains	2,033	2,946
Gross unrealized losses	(1,118)	(935)
Available for sale, at fair value	136,354	137,641
States and political subdivisions
Available for Sale
Amortized cost	187,552	191,280
Gross unrealized gains	3,819	2,054
Gross unrealized losses	(898)	(1,689)
Available for sale, at fair value	190,473	191,645
Corporate securities
Available for Sale
Amortized cost	107,721	99,237
Gross unrealized gains	1,077	1,492
Gross unrealized losses	(227)	(125)
Available for sale, at fair value	108,571	100,604
Residential - Non-government sponsored entities
Available for Sale
Amortized cost	64,286	45,275
Gross unrealized gains	733	1,510
Gross unrealized losses	(987)	(92)
Available for sale, at fair value	64,032	46,693
Other
Available for Sale
Amortized cost	848	757
Gross unrealized gains	68	120
Gross unrealized losses	0	0
Available for sale, at fair value	$ 916	$ 877

INVESTMENT SECURITIES (Amortize

INVESTMENT SECURITIES (Amortized Cost and Estimated Fair Value of Investment Securities) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Held to Maturity, Amortized Cost
Mortgage-backed securities			$ 247,917
Held to Maturity, Estimated Fair Value
Mortgage-backed securities			244,136
Available for Sale, Amortized Cost
Due in one year or less			15,596
Due after one year through five years			106,255
Due after five years through ten years			73,452
Due after ten years			99,970
Mortgage-backed securities			971,382
Other			848
Total			1,267,503
Available for Sale, Estimated Fair Value
Due in one year or less			15,797
Due after one year through five years			107,125
Due after five years through ten years			74,980
Due after ten years			101,142
Mortgage-backed securities			972,295
Other			916
Total			1,272,255	$ 1,229,018
Available for sale
Gross proceeds from sale of available for sale investment securities	$ 119,400	$ 162,500	117,496	162,470	$ 271,931
Purchases of investment securities available for sale	$ 120,600		344,766	98,408	753,496
Gross realized gains on the sales of the available for sale investment securities		900	0	900	3,900
Gross realized losses on the sales of the available for sale investment securities		$ 700	1,900	700	$ 3,400
Average net yield of available for sale mortgage backed securities sold	1.35%	2.69%
Weighted average life of available for sale mortgage backed securities sold	4 years 4 months 24 days	5 years 8 months 12 days
Net realized gains on the sales of the available for sale investment securities	$ 1,900
Investment securities pledged to party with no right to sell or repledge the collateral			$ 1,000,000	$ 900,500
Non Agency Commercial Mortgage Backed Securities and Corporate Bond Securities
Available for sale
Average net yield of available for sale mortgage backed securities sold	2.71%
Weighted average life of available for sale mortgage backed securities sold	7 years 7 months 6 days

INVESTMENT SECURITIES (Investme

INVESTMENT SECURITIES (Investment Securities at an Unrealized Loss Position) (Details) $ in Thousands	Dec. 31, 2015USD ($)security	Dec. 31, 2014USD ($)security
Investments, Debt and Equity Securities [Abstract]
Number of investment securities in an unrealized loss position | security	155	195
Total temporary impaired securities
Less than 12 months, Fair Value	$ 766,126	$ 187,596
Less than 12 months, Unrealized Losses	(9,937)	(891)
12 months or longer, Fair Value	105,491	520,087
12 months or longer, Unrealized Losses	(2,830)	(8,869)
Total, Fair Value	871,617	707,683
Total, Unrealized Losses	(12,767)	(9,760)
States and political subdivisions
Total temporary impaired securities
Less than 12 months, Fair Value	30,481	23,591
Less than 12 months, Unrealized Losses	(532)	(145)
12 months or longer, Fair Value	12,576	68,622
12 months or longer, Unrealized Losses	(366)	(1,544)
Total, Fair Value	43,057	92,213
Total, Unrealized Losses	(898)	(1,689)
Corporate securities
Total temporary impaired securities
Less than 12 months, Fair Value	32,977	23,938
Less than 12 months, Unrealized Losses	(227)	(125)
12 months or longer, Fair Value	0	0
12 months or longer, Unrealized Losses	0	0
Total, Fair Value	32,977	23,938
Total, Unrealized Losses	(227)	(125)
Residential - U.S. Government sponsored entities
Total temporary impaired securities
Less than 12 months, Fair Value	507,525	107,755
Less than 12 months, Unrealized Losses	(6,241)	(487)
12 months or longer, Fair Value	88,271	318,571
12 months or longer, Unrealized Losses	(2,307)	(5,696)
Total, Fair Value	595,796	426,326
Total, Unrealized Losses	(8,548)	(6,183)
Residential - Non-government sponsored entities
Total temporary impaired securities
Less than 12 months, Fair Value	37,975	15,895
Less than 12 months, Unrealized Losses	(987)	(92)
12 months or longer, Fair Value	0	0
12 months or longer, Unrealized Losses	0	0
Total, Fair Value	37,975	15,895
Total, Unrealized Losses	(987)	(92)
Commercial - U.S. Government sponsored entities
Total temporary impaired securities
Less than 12 months, Fair Value	94,613	11,455
Less than 12 months, Unrealized Losses	(989)	(34)
12 months or longer, Fair Value	0	85,355
12 months or longer, Unrealized Losses	0	(702)
Total, Fair Value	94,613	96,810
Total, Unrealized Losses	(989)	(736)
Commercial - Non-government sponsored entities
Total temporary impaired securities
Less than 12 months, Fair Value	62,555	4,962
Less than 12 months, Unrealized Losses	(961)	(8)
12 months or longer, Fair Value	4,644	47,539
12 months or longer, Unrealized Losses	(157)	(927)
Total, Fair Value	67,199	52,501
Total, Unrealized Losses	$ (1,118)	$ (935)

LOANS AND LEASES (Loans and Lea

LOANS AND LEASES (Loans and Leases) (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2015USD ($)loan	Dec. 31, 2015USD ($)loan	Dec. 31, 2014USD ($)loan	Dec. 31, 2013USD ($)
LOANS AND LEASES
Loans and leases, gross		$ 3,210,133	$ 2,931,083
Net deferred costs		1,399	1,115
Total loans and leases		$ 3,211,532	$ 2,932,198
Number of collateral portfolio loans transferred to other real estate | loan		8	6
Transfer of portfolio loans and leases to other real estate		$ 2,200
Carrying value of collateral portfolio loans transferred to other real estate		5,903	$ 2,783	$ 4,358
Number of nonperforming loans | loan	2
Net transfer of loans to loans held for sale	$ 6,600	6,658	0	0
Activity of loans made to certain directors, executive officers and their affiliates
Balance, beginning of year		29,231	12,942
Additions		10,392	19,448
Repayments		(20,863)	(3,159)
Other changes		(8,285)	0
Balance, end of year		$ 10,475	29,231	$ 12,942
Auto Loan Portfolio
LOANS AND LEASES
Number of loans purchased | loan		2
Carrying value of loan purchased		$ 52,800	11,200
Premium value of loan purchased		1,700	300
Outstanding value of loan purchased		$ 51,100	$ 10,900
Weighted average remaining term		74 months	71 months
Student Loan Portfolio
LOANS AND LEASES
Carrying value of loan purchased		$ 15,900	$ 51,500
Weighted average remaining term		37 months	123 months
Commercial, financial & agricultural
LOANS AND LEASES
Loans and leases, gross		$ 520,457	$ 463,070
Net deferred costs		629	693
Total loans and leases		521,086	463,763
Real estate, construction
LOANS AND LEASES
Loans and leases, gross		85,196	115,023
Net deferred costs		(311)	(469)
Total loans and leases		84,885	114,554
Real estate, Mortgage - residential
LOANS AND LEASES
Loans and leases, gross		1,433,862	1,280,089
Net deferred costs		2,443	2,235
Total loans and leases		1,436,305	1,282,324
Real estate, Mortgage - commercial
LOANS AND LEASES
Loans and leases, gross		761,566	704,099
Net deferred costs		(817)	(826)
Total loans and leases		760,749	703,273
Consumer
LOANS AND LEASES
Loans and leases, gross		408,024	365,662
Net deferred costs		(545)	(518)
Total loans and leases		407,479	365,144
Leases
LOANS AND LEASES
Loans and leases, gross		1,028	3,140
Net deferred costs		0	0
Total loans and leases		$ 1,028	$ 3,140

LOANS AND LEASES (Allowance for

LOANS AND LEASES (Allowance for Loan and Lease Losses) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Allowance for loan and lease losses :
Total ending balance	$ 63,314	$ 74,040	$ 83,820	$ 96,413
Loans and leases :
Individually evaluated for impairment	38,204	72,276
Collectively evaluated for impairment	3,171,929	2,858,807
Loans and leases	3,210,133	2,931,083
Net deferred costs	1,399	1,115
Total loans and leases	3,211,532	2,932,198
Allocated
Allowance for loan and lease losses :
Ending balance attributable to loans : Individually evaluated for impairment	51	1,533
Ending balance attributable to loans : Collectively evaluated for impairment	61,123	68,507
Total ending balance	61,174	70,040
Commercial, financial & agricultural
Allowance for loan and lease losses :
Ending balance attributable to loans : Individually evaluated for impairment	0	1,533
Ending balance attributable to loans : Collectively evaluated for impairment	6,905	7,421
Total ending balance	6,905	8,954	13,196	4,987
Loans and leases :
Individually evaluated for impairment	1,044	13,369
Collectively evaluated for impairment	519,413	449,701
Loans and leases	520,457	463,070
Net deferred costs	629	693
Total loans and leases	521,086	463,763
Real estate, construction
Allowance for loan and lease losses :
Ending balance attributable to loans : Individually evaluated for impairment	0	0
Ending balance attributable to loans : Collectively evaluated for impairment	8,454	14,969
Total ending balance	8,454	14,969	2,774	4,510
Loans and leases :
Individually evaluated for impairment	4,126	4,888
Collectively evaluated for impairment	81,070	110,135
Loans and leases	85,196	115,023
Net deferred costs	(311)	(469)
Total loans and leases	84,885	114,554
Real estate, Mortgage - residential
Allowance for loan and lease losses :
Ending balance attributable to loans : Individually evaluated for impairment	0	0
Ending balance attributable to loans : Collectively evaluated for impairment	17,738	17,927
Total ending balance	17,738	17,927	25,272	27,836
Loans and leases :
Individually evaluated for impairment	22,716	30,893
Collectively evaluated for impairment	1,411,146	1,249,196
Loans and leases	1,433,862	1,280,089
Net deferred costs	2,443	2,235
Total loans and leases	1,436,305	1,282,324
Real estate, Mortgage - commercial
Allowance for loan and lease losses :
Ending balance attributable to loans : Individually evaluated for impairment	51	0
Ending balance attributable to loans : Collectively evaluated for impairment	21,796	20,869
Total ending balance	21,847	20,869	29,947	50,574
Loans and leases :
Individually evaluated for impairment	10,318	23,126
Collectively evaluated for impairment	751,248	680,973
Loans and leases	761,566	704,099
Net deferred costs	(817)	(826)
Total loans and leases	760,749	703,273
Consumer
Allowance for loan and lease losses :
Ending balance attributable to loans : Individually evaluated for impairment	0	0
Ending balance attributable to loans : Collectively evaluated for impairment	6,230	7,314
Total ending balance	6,230	7,314	6,576	2,421
Loans and leases :
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	408,024	365,662
Loans and leases	408,024	365,662
Net deferred costs	(545)	(518)
Total loans and leases	407,479	365,144
Leases
Allowance for loan and lease losses :
Ending balance attributable to loans : Individually evaluated for impairment	0	0
Ending balance attributable to loans : Collectively evaluated for impairment	0	7
Total ending balance	0	7	55	85
Loans and leases :
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	1,028	3,140
Loans and leases	1,028	3,140
Net deferred costs	0	0
Total loans and leases	1,028	3,140
Unallocated
Allowance for loan and lease losses :
Total ending balance	$ 2,140	$ 4,000	$ 6,000	$ 6,000

LOANS AND LEASES (Impaired Loan

LOANS AND LEASES (Impaired Loans) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Unpaid Principal Balance
Impaired loans with no related allowance recorded	$ 46,429	$ 76,393
Impaired loans with an allowance recorded	1,166	16,630
Total	47,595	93,023
Recorded Investment
Impaired loans with no related allowance recorded	37,038	59,645
Impaired loans with an allowance recorded	1,166	12,631
Total	38,204	72,276
Allowance Allocated
Impaired loans with an allowance recorded	51	1,533	$ 349	$ 3,011
Average recorded investment on impaired loans
Average Recorded Investment	51,042	71,614	88,201
Interest income recognized on impaired loans
Interest Income Recognized	658	1,209	2,885
Commercial, financial & agricultural
Unpaid Principal Balance
Impaired loans with no related allowance recorded	1,155	738
Impaired loans with an allowance recorded	1,166	16,630
Recorded Investment
Impaired loans with no related allowance recorded	1,044	738
Impaired loans with an allowance recorded	1,166	12,631
Allowance Allocated
Impaired loans with an allowance recorded	51	1,533
Average recorded investment on impaired loans
Average Recorded Investment	6,273	14,303	4,138
Interest income recognized on impaired loans
Interest Income Recognized	17	22	24
Real estate, construction
Unpaid Principal Balance
Impaired loans with no related allowance recorded	10,472	11,275
Recorded Investment
Impaired loans with no related allowance recorded	4,126	4,888
Average recorded investment on impaired loans
Average Recorded Investment	4,428	5,517	24,545
Interest income recognized on impaired loans
Interest Income Recognized	190	163	1,442
Real estate, Mortgage - residential
Unpaid Principal Balance
Impaired loans with no related allowance recorded	24,792	34,131
Recorded Investment
Impaired loans with no related allowance recorded	22,716	30,893
Average recorded investment on impaired loans
Average Recorded Investment	26,101	33,102	38,325
Interest income recognized on impaired loans
Interest Income Recognized	78	627	586
Real estate, Mortgage - commercial
Unpaid Principal Balance
Impaired loans with no related allowance recorded	10,010	30,249
Recorded Investment
Impaired loans with no related allowance recorded	9,152	23,126
Average recorded investment on impaired loans
Average Recorded Investment	14,240	18,692	21,160
Interest income recognized on impaired loans
Interest Income Recognized	$ 373	$ 397	833
Leases
Average recorded investment on impaired loans
Average Recorded Investment			33
Interest income recognized on impaired loans
Interest Income Recognized			$ 0

LOANS AND LEASES (Aging of Reco

LOANS AND LEASES (Aging of Recorded Investment) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	$ 21,354,000	$ 44,874,000
Nonaccrual Loans	14,268,000	39,087,000
Loans and Leases Not Past Due	3,190,178,000	2,887,324,000
Total loans and leases	3,211,532,000	2,932,198,000
Interest income recognized on nonaccrual loans, including loans held for sale	500,000	400,000	$ 400,000
Additional interest income that would have been recognized, had nonaccrual loans been accruing interest throughout	1,500,000	4,000,000	4,900,000
Interest income collected and recognized on charged-off loans	800,000	200,000	$ 2,500,000
Commercial, financial & agricultural
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,460,000	13,275,000
Nonaccrual Loans	1,044,000	13,007,000
Loans and Leases Not Past Due	519,626,000	450,488,000
Total loans and leases	521,086,000	463,763,000
Real estate, construction
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	310,000
Nonaccrual Loans	0	310,000
Loans and Leases Not Past Due	84,885,000	114,244,000
Total loans and leases	84,885,000	114,554,000
Real estate, Mortgage - residential
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	10,509,000	16,505,000
Nonaccrual Loans	6,130,000	13,048,000
Loans and Leases Not Past Due	1,425,796,000	1,265,819,000
Total loans and leases	1,436,305,000	1,282,324,000
Real estate, Mortgage - commercial
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	7,148,000	12,790,000
Nonaccrual Loans	7,094,000	12,722,000
Loans and Leases Not Past Due	753,601,000	690,483,000
Total loans and leases	760,749,000	703,273,000
Consumer
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	2,237,000	1,994,000
Nonaccrual Loans	0	0
Loans and Leases Not Past Due	405,242,000	363,150,000
Total loans and leases	407,479,000	365,144,000
Leases
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
Nonaccrual Loans	0	0
Loans and Leases Not Past Due	1,028,000	3,140,000
Total loans and leases	1,028,000	3,140,000
30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	5,607,000	4,829,000
30 - 59 Days Past Due | Commercial, financial & agricultural
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	276,000	183,000
30 - 59 Days Past Due | Real estate, construction
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
30 - 59 Days Past Due | Real estate, Mortgage - residential
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	3,834,000	3,078,000
30 - 59 Days Past Due | Real estate, Mortgage - commercial
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	54,000	68,000
30 - 59 Days Past Due | Consumer
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,443,000	1,500,000
30 - 59 Days Past Due | Leases
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	1,206,000	881,000
60 - 89 Days Past Due | Commercial, financial & agricultural
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	140,000	85,000
60 - 89 Days Past Due | Real estate, construction
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
60 - 89 Days Past Due | Real estate, Mortgage - residential
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	545,000	379,000
60 - 89 Days Past Due | Real estate, Mortgage - commercial
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
60 - 89 Days Past Due | Consumer
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	521,000	417,000
60 - 89 Days Past Due | Leases
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
Accruing Loans Greater Than 90 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Loans Past Due	0	0
Accruing Loans Greater Than 90 Days Past Due	273,000	77,000
Accruing Loans Greater Than 90 Days Past Due | Commercial, financial & agricultural
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Accruing Loans Greater Than 90 Days Past Due	0	0
Accruing Loans Greater Than 90 Days Past Due | Real estate, construction
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Accruing Loans Greater Than 90 Days Past Due	0	0
Accruing Loans Greater Than 90 Days Past Due | Real estate, Mortgage - residential
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Accruing Loans Greater Than 90 Days Past Due	0	0
Accruing Loans Greater Than 90 Days Past Due | Real estate, Mortgage - commercial
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Accruing Loans Greater Than 90 Days Past Due	0	0
Accruing Loans Greater Than 90 Days Past Due | Consumer
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Accruing Loans Greater Than 90 Days Past Due	273,000	77,000
Accruing Loans Greater Than 90 Days Past Due | Leases
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Accruing Loans Greater Than 90 Days Past Due	$ 0	$ 0

LOANS AND LEASES (Modifications

LOANS AND LEASES (Modifications) (Details)	12 Months Ended
	Dec. 31, 2015USD ($)loancontract	Dec. 31, 2014USD ($)contract
Information related to loans modified in a TDR
Commitments to lend additional funds	$ 0
Amount of TDRs still accruing interest	$ 20,300,000	$ 29,500,000
Holding period limit for accruing interest on TDRs	90 days
Number of Contracts | contract	4
Recorded Investment	$ 4,619,000
Loans modified as a TDR within the previous twelve months that subsequently defaulted
Number of Contracts | contract	0	1
Recorded Investment	$ 0	$ 25,000
Real estate, Mortgage - residential
Information related to loans modified in a TDR
Number of Contracts | contract	3	12
Recorded Investment	$ 4,131,000	$ 790,000
Loans modified as a TDR within the previous twelve months that subsequently defaulted
Number of Contracts | contract	0	1
Recorded Investment	$ 0	$ 25,000
Commercial, financial & agricultural
Information related to loans modified in a TDR
Number of Contracts | contract	1
Recorded Investment	$ 488,000
HAWAII | Real estate, Mortgage - residential
Information related to loans modified in a TDR
Number of TDRs included in nonperforming assets | loan	22
Combined principal balance of troubled debt restructurings included in nonperforming assets	$ 3,500,000
HAWAII | Real estate, Mortgage - commercial
Information related to loans modified in a TDR
Number of TDRs included in nonperforming assets | loan	1
Combined principal balance of troubled debt restructurings included in nonperforming assets	$ 2,100,000
HAWAII | Construction and development loan
Information related to loans modified in a TDR
Number of TDRs included in nonperforming assets | loan	3
Combined principal balance of troubled debt restructurings included in nonperforming assets	$ 1,000,000

LOANS AND LEASES (Class and Cre

LOANS AND LEASES (Class and Credit Indicator) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	$ 3,210,133	$ 2,931,083
Net deferred costs	1,399	1,115
Total loans and leases	3,211,532	2,932,198
Commercial, financial & agricultural
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	520,457	463,070
Net deferred costs	629	693
Total loans and leases	521,086	463,763
Real estate, construction
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	85,196	115,023
Net deferred costs	(311)	(469)
Total loans and leases	84,885	114,554
Real estate, Mortgage - residential
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	1,433,862	1,280,089
Net deferred costs	2,443	2,235
Total loans and leases	1,436,305	1,282,324
Real estate, Mortgage - commercial
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	761,566	704,099
Net deferred costs	(817)	(826)
Total loans and leases	760,749	703,273
Consumer
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	408,024	365,662
Net deferred costs	(545)	(518)
Total loans and leases	407,479	365,144
Leases
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	1,028	3,140
Net deferred costs	0	0
Total loans and leases	1,028	3,140
Pass
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	3,140,630	2,838,696
Pass | Commercial, financial & agricultural
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	514,971	432,892
Pass | Real estate, construction
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	83,601	111,370
Pass | Real estate, Mortgage - residential
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	1,427,732	1,265,470
Pass | Real estate, Mortgage - commercial
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	705,520	660,492
Pass | Consumer
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	407,778	365,332
Pass | Leases
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	1,028	3,140
Special Mention
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	44,406	25,799
Special Mention | Commercial, financial & agricultural
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	2,168	14,655
Special Mention | Real estate, construction
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	808	0
Special Mention | Real estate, Mortgage - residential
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	0	352
Special Mention | Real estate, Mortgage - commercial
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	41,335	10,498
Special Mention | Consumer
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	95	294
Special Mention | Leases
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	0	0
Substandard
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	25,097	66,588
Substandard | Commercial, financial & agricultural
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	3,318	15,523
Substandard | Real estate, construction
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	787	3,653
Substandard | Real estate, Mortgage - residential
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	6,130	14,267
Substandard | Real estate, Mortgage - commercial
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	14,711	33,109
Substandard | Consumer
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	151	36
Substandard | Leases
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	$ 0	$ 0

ALLOWANCE FOR LOAN AND LEASE 72

ALLOWANCE FOR LOAN AND LEASE LOSSES (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Changes in the allowance
Beginning balance				$ 74,040				$ 83,820	$ 74,040	$ 83,820	$ 96,413
Provision (credit) for loan and lease losses	$ (1,958)	$ (3,647)	$ (7,319)	(2,747)	$ (5,371)	$ (1,722)	$ 1,995	(1,316)	(15,671)	(6,414)	(11,310)
Subtotal									58,369	77,406	85,103
Charge-offs									11,256	9,937	12,616
Recoveries									16,201	6,571	11,333
Net charge-offs (recoveries)									(4,945)	3,366	1,283
Ending balance	63,314				74,040				63,314	74,040	83,820
Commercial, financial & agricultural
Changes in the allowance
Beginning balance				8,954				13,196	8,954	13,196	4,987
Provision (credit) for loan and lease losses									(1,179)	(1,522)	9,634
Subtotal									7,775	11,674	14,621
Charge-offs									5,658	5,046	2,812
Recoveries									4,788	2,326	1,387
Net charge-offs (recoveries)									870	2,720	1,425
Ending balance	6,905				8,954				6,905	8,954	13,196
Real estate, construction
Changes in the allowance
Beginning balance				14,969				2,774	14,969	2,774	4,510
Provision (credit) for loan and lease losses									(7,395)	10,155	(4,974)
Subtotal									7,574	12,929	(464)
Charge-offs									0	0	358
Recoveries									880	2,040	3,596
Net charge-offs (recoveries)									(880)	(2,040)	(3,238)
Ending balance	8,454				14,969				8,454	14,969	2,774
Real estate, Mortgage - residential
Changes in the allowance
Beginning balance				17,927				25,272	17,927	25,272	27,836
Provision (credit) for loan and lease losses									(2,256)	(8,198)	(2,588)
Subtotal									15,671	17,074	25,248
Charge-offs									110	139	1,083
Recoveries									2,177	992	1,107
Net charge-offs (recoveries)									(2,067)	(853)	(24)
Ending balance	17,738				17,927				17,738	17,927	25,272
Real estate, Mortgage - commercial
Changes in the allowance
Beginning balance				20,869				29,947	20,869	29,947	50,574
Provision (credit) for loan and lease losses									(4,903)	(8,090)	(18,099)
Subtotal									15,966	21,857	32,475
Charge-offs									838	1,041	6,768
Recoveries									6,719	53	4,240
Net charge-offs (recoveries)									(5,881)	988	2,528
Ending balance	21,847				20,869				21,847	20,869	29,947
Consumer
Changes in the allowance
Beginning balance				7,314				6,576	7,314	6,576	2,421
Provision (credit) for loan and lease losses									1,956	3,289	5,093
Subtotal									9,270	9,865	7,514
Charge-offs									4,650	3,703	1,595
Recoveries									1,610	1,152	657
Net charge-offs (recoveries)									3,040	2,551	938
Ending balance	6,230				7,314				6,230	7,314	6,576
Leases
Changes in the allowance
Beginning balance				7				55	7	55	85
Provision (credit) for loan and lease losses									(34)	(48)	(376)
Subtotal									(27)	7	(291)
Charge-offs									0	8	0
Recoveries									27	8	346
Net charge-offs (recoveries)									(27)	0	(346)
Ending balance	0				7				0	7	55
Unallocated
Changes in the allowance
Beginning balance				$ 4,000				$ 6,000	4,000	6,000	6,000
Provision (credit) for loan and lease losses									(1,860)	(2,000)	0
Subtotal									2,140	4,000	6,000
Charge-offs									0	0	0
Recoveries									0	0	0
Net charge-offs (recoveries)									0	0	0
Ending balance	$ 2,140				$ 4,000				$ 2,140	$ 4,000	$ 6,000

ALLOWANCE FOR LOAN AND LEASE 73

ALLOWANCE FOR LOAN AND LEASE LOSSES (Impaired Loans) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Changes in the allowance for loan and lease losses for impaired loans
Balance, beginning of year	$ 1,533	$ 349	$ 3,011
Provision for loan and lease losses	51	1,354	0
Other changes	(1,533)	(170)	(2,662)
Balance, end of year	$ 51	$ 1,533	$ 349

SECURITIZATIONS (Details)

SECURITIZATIONS (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
SECURITIZATIONS
Mortgage servicing rights	$ 17,797	$ 19,668
Real estate, Mortgage - residential | Significant Other Observable Inputs (Level 2)
SECURITIZATIONS
Mortgage servicing rights	2,700	3,500
Unrealized gains recorded in AOCI	$ 200	$ 200

PREMISES AND EQUIPMENT (Details

PREMISES AND EQUIPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Premises and Equipment
Gross premises and equipment	$ 140,861	$ 144,003
Accumulated depreciation and amortization	(91,700)	(94,789)
Net premises and equipment	49,161	49,214
Land
Premises and Equipment
Gross premises and equipment	9,006	9,006
Office buildings and improvements
Premises and Equipment
Gross premises and equipment	100,892	98,081
Furniture, fixtures and equipment
Premises and Equipment
Gross premises and equipment	$ 30,963	$ 36,916

PREMISES AND EQUIPMENT (Depreci

PREMISES AND EQUIPMENT (Depreciation and Amortization) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Premises and Equipment
Depreciation and amortization	$ 5,870	$ 5,842	$ 6,007
Net occupancy
Premises and Equipment
Depreciation and amortization	3,997	3,845	3,702
Equipment
Premises and Equipment
Depreciation and amortization	$ 1,873	$ 1,997	$ 2,305

OTHER INTANGIBLE ASSETS (Detail

OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014
Changes in other intangible assets
Balance, beginning of period	$ 29,697	$ 32,783
Additions	2,314	2,246
Amortization	(6,859)	(5,332)
Balance, end of period	25,152	29,697	$ 32,783
Gross carrying value, accumulated amortization and net carrying value related to intangible assets
Gross Carrying Value				$ 103,643	$ 101,329
Accumulated Amortization				(78,491)	(71,632)
Net Carrying Value	29,697	32,783	32,783	25,152	29,697
Estimated Amortization Expense
2,016				5,067
2,017				4,394
2,018				3,272
2,019				878
2,020				584
Thereafter				10,957
Net Carrying Value	29,697	32,783	32,783	25,152	29,697
Other disclosures
Income generated as a result of new mortgage servicing rights reported as gains on sale of loans	6,107	5,545	9,986
Fair market value and key assumptions used in determining the fair market value
Fair market value, beginning of period	2,360,000
Fair market value, end of period	2,170,000	2,360,000
Core Deposit Premium
Changes in other intangible assets
Balance, beginning of period	10,029	12,704
Additions	0	0
Amortization	(2,674)	(2,675)
Balance, end of period	7,355	10,029	12,704
Gross carrying value, accumulated amortization and net carrying value related to intangible assets
Gross Carrying Value				44,642	44,642
Accumulated Amortization				(37,287)	(34,613)
Net Carrying Value	10,029	12,704	12,704	7,355	10,029
Estimated Amortization Expense
2,016				2,674
2,017				2,674
2,018				2,007
2,019				0
2,020				0
Thereafter				0
Net Carrying Value	10,029	12,704	12,704	7,355	10,029
Mortgage Servicing Rights
Changes in other intangible assets
Balance, beginning of period	19,668	20,079
Additions	2,314	2,246
Amortization	(4,185)	(2,657)
Balance, end of period	17,797	19,668	20,079
Gross carrying value, accumulated amortization and net carrying value related to intangible assets
Gross Carrying Value				59,001	56,687
Accumulated Amortization				(41,204)	(37,019)
Net Carrying Value	19,668	20,079	20,079	17,797	19,668
Estimated Amortization Expense
2,016				2,393
2,017				1,720
2,018				1,265
2,019				878
2,020				584
Thereafter				10,957
Net Carrying Value	19,668	20,079	20,079	$ 17,797	$ 19,668
Other disclosures
Income generated as a result of new mortgage servicing rights reported as gains on sale of loans	2,300	2,200	2,700
Fair market value and key assumptions used in determining the fair market value
Fair market value, beginning of period	19,975	21,399
Fair market value, end of period	$ 18,345	$ 19,975	$ 21,399
Weighted average discount rate	9.50%	9.50%
Weighted average prepayment speed assumption	14.30%	13.20%

DERIVATIVES (Details)

DERIVATIVES (Details) - Derivative instruments not designated as hedging instruments. - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Interest rate lock commitments
DERIVATIVES
Mortgage loans hedged	$ 24	$ 44.3
Forward sale commitments
DERIVATIVES
Mortgage loans hedged	$ 10	$ 23.9

DERIVATIVES (Balance Sheet) (De

DERIVATIVES (Balance Sheet) (Details) - Derivative instruments not designated as hedging instruments. - Derivatives - Interest rate contracts - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Asset Derivatives
Fair Value	$ 68	$ 504
Liability Derivatives
Fair Value	$ 9	$ 122

(Income Statement) (Details)

(Income Statement) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Derivative instruments not designated as hedging instruments. | Derivatives - Interest rate contracts
DERIVATIVES
Amount of Gain (Loss) Recognized in Earnings on Derivatives	$ (324)	$ 294

DEPOSITS (Details)

DEPOSITS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Deposits [Abstract]
Time deposits of $100,000 or more	$ 851,261	$ 804,200
Interest expense on certificates of deposits of $100,000 or more	1,500	1,400	$ 1,500
Maturities of time deposits of $100,000 or more
Three months or less	489,641
Over three through six months	238,248
Over six through twelve months	79,869
2,017	18,546
2,018	12,595
2,019	7,657
2,020	4,705
Thereafter	0
Total	851,261	804,200
Overdrawn deposit accounts	$ 500	$ 700

SHORT-TERM BORROWINGS (Details)

SHORT-TERM BORROWINGS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SHORT-TERM BORROWINGS
Maximum borrowing capacity	$ 1,220,000,000
Additional unused borrowings available	1,150,000,000
Amount outstanding at December 31	69,000,000	$ 38,000,000	$ 8,015,000
Interest expense on short-term borrowings	254,000	92,000	6,000
Average amount outstanding during year	92,045,000	31,732,000	1,988,000
Highest month-end balance during year	$ 157,000,000	$ 102,000,000	$ 28,000,000
Weighted average interest rate on balances outstanding at December 31	0.35%	0.25%	0.23%
Weighted average interest rate during year	0.28%	0.29%	0.32%
Federal Reserve discount window line of credit | Central Bank
SHORT-TERM BORROWINGS
Additional unused borrowings available	$ 40,800,000	$ 33,300,000
Commercial real estate and commercial loans pledged as collateral	$ 87,300,000	$ 72,900,000

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details)	1 Months Ended				12 Months Ended
	Mar. 31, 2013USD ($)	Dec. 31, 2004USD ($)	Sep. 30, 2004USD ($)	Oct. 31, 2003USD ($)trust	Dec. 31, 2015USD ($)period	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
LONG-TERM DEBT
Long-term debt					$ 92,785,000	$ 92,785,000
Additional unused capacity available					1,150,000,000
Investment securities pledged as collateral					1,000,000,000	900,500,000
Interest expense					2,626,000	2,572,000	$ 3,119,000
Number of wholly-owned statutory trusts created | trust				2
Deferred accrued interest paid	$ 13,000,000				6,453,000	6,413,000	19,260,000
CPB Capital Trust II
LONG-TERM DEBT
Trust preferred securities issued				$ 20,000,000
Variable rate basis				three-month LIBOR
Basis spread				2.85%
Common securities issued to the Company				$ 600,000
CPB Capital Trust III
LONG-TERM DEBT
Trust preferred securities issued				$ 20,000,000
Variable rate basis				three-month LIBOR
Basis spread				2.85%
Common securities issued to the Company				$ 600,000
CPB Capital Trust IV
LONG-TERM DEBT
Trust preferred securities issued			$ 30,000,000
Variable rate basis			three-month LIBOR
Basis spread			2.45%
Common securities issued to the Company			$ 900,000
CPB Capital Trust V
LONG-TERM DEBT
Trust preferred securities issued		$ 20,000,000
Variable rate basis		three-month LIBOR
Basis spread		1.87%
Common securities issued to the Company		$ 600,000
FHLB line of credit
LONG-TERM DEBT
Additional unused capacity available					1,150,000,000
Investment securities pledged as collateral					500,000
Real estate loans pledged as collateral					1,600,000,000
Interest expense					0	1,000	$ 2,000
Subordinated debentures
LONG-TERM DEBT
Long-term debt					$ 92,785,000	$ 92,785,000
Number of consecutive quarterly periods for which payments of interest can be deferred without default or penalty (up to) | period					20
Subordinated debentures | Maximum
LONG-TERM DEBT
Redemption period of trust preferred securities, the subordinated debentures and the common securities, following the occurrence of certain events					90 days
Subordinated debentures | CPB Capital Trust II
LONG-TERM DEBT
Long-term debt					$ 20,600,000
Subordinated debentures | CPB Capital Trust III
LONG-TERM DEBT
Long-term debt					20,600,000
Subordinated debentures | CPB Capital Trust IV
LONG-TERM DEBT
Long-term debt					30,900,000
Subordinated debentures | CPB Capital Trust V
LONG-TERM DEBT
Long-term debt					$ 20,600,000

LONG-TERM DEBT (Future Principa

LONG-TERM DEBT (Future Principal Payments) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Future principal payments on long-term debt based on final maturity
2,016	$ 0
2,017	0
2,018	0
2,019	0
2,020	0
Thereafter	92,785
Total	$ 92,785	$ 92,785

EQUITY (Details)

EQUITY (Details) $ / shares in Units, $ in Thousands	Aug. 03, 2015USD ($)$ / sharesshares	Jun. 04, 2015USD ($)$ / sharesshares	Apr. 01, 2015USD ($)$ / sharesshares	Apr. 07, 2014USD ($)shares	Mar. 21, 2014$ / sharesshares	Feb. 21, 2014USD ($)$ / shares	Feb. 20, 2014USD ($)shares	Jan. 29, 2014	Nov. 23, 2010$ / shares	Dec. 31, 2015USD ($)$ / sharesshares	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)	Jan. 31, 2015USD ($)	May. 20, 2014USD ($)
EQUITY
Non-cash increase in net income available to common shareholders due to TARP Exchange												$ 0	$ 0	$ 1,895
Decrease in fair value recorded in noninterest income												2,104	3,547	3,249
Other noninterest expense												$ 17,342	$ 18,886	$ 17,927
For ownership change to occur, the minimum cumulative increase in the entity's ownership by "5-percent shareholders" over a rolling three-year period (as a percent)												50.00%
Number of shares repurchased or acquired through tender offer | shares												4,122,881	7,045,620
Common stock, outstanding shares | shares										31,361,452		31,361,452	35,233,674
Common stock, par value (in dollars per share) | $ / shares										$ 0		$ 0	$ 0
Rights
EQUITY
Additional extension period of Tax Benefits Preservation Plan								2 years
Central Bank
EQUITY
Retained earnings													$ 63,700
Common Stock
EQUITY
Number of shares repurchased | shares													857,554
Amount authorized under the 2014 Repurchase Plan																$ 30,000
Repurchased amount													$ 16,500
Common Stock | Repurchase Agreements
EQUITY
Value of shares repurchased or acquired through tender offer				$ 125,000
Tender offer price (in dollars per share) | $ / shares					$ 20.20
Number of shares of common stock properly tendered and not withdrawn at or below the purchase price | shares					3,369,850
Number of shares of common stock tendered through notice of guaranteed delivery at or below the purchase price | shares					167,572
Number of shares repurchased or acquired through tender offer | shares				6,188,066	3,405,888
Share repurchase percentage of common stock properly tendered and not withdrawn at or below the purchase price					96.60%
Share repurchase percentage of issued and outstanding shares of common stock prior to the completion of the tender offer and the private repurchases				14.70%
Common stock, outstanding shares | shares				35,900,000
Number of shares repurchased | shares												4,122,881
Amount authorized under the 2014 Repurchase Plan															$ 75,000
Repurchased amount												$ 93,300
Remaining amount available for repurchase										$ 20,200		$ 20,200
Increase in authorized amount										$ 25,000
Common Stock | Repurchase Agreements | Lead Investors
EQUITY
Value of shares repurchased or acquired through tender offer							$ 56,200
Percentage of shares of common stock held by investors							44.90%
Common Stock | Repurchase Agreements | Carlyle
EQUITY
Value of shares repurchased or acquired through tender offer							$ 28,100
Number of shares repurchased or acquired through tender offer | shares							1,391,089
Number of shares of common stock held by investors | shares							9,463,095
Percentage of shares of common stock held by investors							22.50%
Common Stock | Repurchase Agreements | Anchorage
EQUITY
Number of shares repurchased or acquired through tender offer | shares							1,391,089
Number of shares of common stock held by investors | shares							9,463,095
Percentage of shares of common stock held by investors							22.50%
Common Stock | Underwriting Agreement
EQUITY
Other noninterest expense			$ 400								$ 300
Equity related expense			200
Value of shares repurchased or acquired through tender offer	$ 122,500	$ 66,500	$ 175,000
Common stock, par value (in dollars per share) | $ / shares		$ 0	$ 0
Share Price | $ / shares	$ 22.11	$ 22.15	$ 23.01
Common Stock | Underwriting Agreement | Carlyle
EQUITY
Number of shares repurchased or acquired through tender offer | shares		1,500,000	3,802,694
Common Stock | Underwriting Agreement | Anchorage
EQUITY
Number of shares repurchased or acquired through tender offer | shares		1,500,000	3,802,694
Common Stock | Underwriting Agreement | Carlyle And Anchorage
EQUITY
Number of shares repurchased or acquired through tender offer | shares		3,000,000	7,605,388
Common Stock | Underwriting Agreement | Citigroup Global Markets
EQUITY
Value of shares repurchased or acquired through tender offer			$ 75,000
Number of shares repurchased or acquired through tender offer | shares			3,259,452
Share Price | $ / shares			$ 23.01
Common Stock | Underwriting Agreement | UBS Investment Bank
EQUITY
Number of shares repurchased or acquired through tender offer | shares	5,538,624
Common Stock | Minimum | Repurchase Agreements
EQUITY
Tender offer price (in dollars per share) | $ / shares						$ 18.50
Common Stock | Maximum | Repurchase Agreements
EQUITY
Value of shares repurchased or acquired through tender offer						$ 68,800
Tender offer price (in dollars per share) | $ / shares						$ 21
Common Stock | Maximum | Repurchase Agreements | Anchorage
EQUITY
Value of shares repurchased or acquired through tender offer							$ 28,100
Junior Participating Preferred Stock, Series C | Rights
EQUITY
Exercise price of warrant (in dollars per share) | $ / shares									$ 6
Fraction of securities callable by each warrant or right									0.0001

SHARE-BASED COMPENSATION (Share

SHARE-BASED COMPENSATION (Share-Based Compensation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SHARE-BASED COMPENSATION
Net share-based compensation effect	$ 2,565	$ 3,695	$ 3,842
Salaries and employee benefits
SHARE-BASED COMPENSATION
Net share-based compensation effect	4,181	6,101	6,367
Directors stock awards
SHARE-BASED COMPENSATION
Net share-based compensation effect	78	37	45
Income tax benefit
SHARE-BASED COMPENSATION
Net share-based compensation effect	$ (1,694)	$ (2,443)	$ (2,570)

SHARE-BASED COMPENSATION (Equit

SHARE-BASED COMPENSATION (Equity Incentive Plans and Stock Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	May. 31, 2007	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Apr. 30, 2013	Apr. 30, 2011	Mar. 31, 2011	Sep. 30, 2004	Apr. 30, 1997
SHARE-BASED COMPENSATION
Grants in period		0	0
Stock Option 2013 Plan
Additional disclosures
Aggregate intrinsic value of options exercised		$ 200	$ 31	$ 22
Stock Option
SHARE-BASED COMPENSATION
Contractual terms		10 years
Shares
Outstanding at the beginning of the period (in shares)		286,407
Changes during the period
Exercised (shares)		(25,040)
Expired (in shares)		(4,177)
Forfeited (in shares)		(17,773)
Outstanding at the end of the period (in shares)		239,417	286,407
Exercisable at the end of the period (in shares)		163,109
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)		$ 33.32
Changes during the period:
Exercised (in dollars per share)		14.37
Expired (in dollars per share)		730
Forfeited (in dollars per share)		48.60
Outstanding at the end of the period (in dollars per share)		22.01	$ 33.32
Exercisable at the end of the period (in dollars per share)		$ 25.61
Weighted Average Remaining Contractual Term
Outstanding		6 years 2 months 12 days
Exercisable at the end of the period		6 years 2 months 12 days
Aggregate Intrinsic Value
Outstanding		$ 1,778
Exercisable at the end of the period		1,192
Additional disclosures
Total compensation cost not yet recognized		$ 500
Weighted-average period for recognition of compensation cost not yet recognized		1 year 3 months 18 days
Total fair value of shares vested		$ 400	$ 700	$ 700
Stock Option | Stock Option 1997 Plan
SHARE-BASED COMPENSATION
Shares authorized for grants									2,000,000
Stock Option | Stock Compensation 2004 Plan
SHARE-BASED COMPENSATION
Shares authorized for grants						4,944,831	1,402,589	1,500,000
Additional shares authorized for grants	1,000,000	1,922,130	1,993,385	2,185,454
Stock Option | Stock Option 2013 Plan
SHARE-BASED COMPENSATION
Shares authorized for grants					2,200,000
Stock Option | Minimum
SHARE-BASED COMPENSATION
Vesting period		3 years
Stock Option | Maximum
SHARE-BASED COMPENSATION
Vesting period		5 years

SHARE-BASED COMPENSATION (Restr

SHARE-BASED COMPENSATION (Restricted Stock Awards and Units) (Details) - Restricted Stock Awards and Units $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Activity of nonvested shares
Nonvested at the beginning of the period (in shares) | shares	715,460
Changes during the period:
Granted (in shares) | shares	173,897
Forfeited (in shares) | shares	(82,373)
Vested (in shares) | shares	(343,067)
Nonvested at the end of the period (in shares) | shares	463,917
Weighted Average Grant Date Fair Value
Nonvested at the beginning of the period (in dollars per share) | $ / shares	$ 15.77
Changes during the period:
Granted (in dollars per share) | $ / shares	19.50
Forfeited (in dollars per share) | $ / shares	16.73
Vested (in dollars per share) | $ / shares	15.21
Nonvested at the end of the period (in dollars per share) | $ / shares	$ 17.41
Additional disclosures
Total compensation cost not yet recognized | $	$ 4.1
Weighted-average period for recognition of compensation cost not yet recognized	2 years 3 months
Minimum
SHARE-BASED COMPENSATION
Vesting period	3 years
Maximum
SHARE-BASED COMPENSATION
Vesting period	5 years

PENSION PLANS (Defined Benefit

PENSION PLANS (Defined Benefit Retirement Plan) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Pension Plan
PENSION PLANS
Consecutive period of service considered for highest average annual salaries for calculation of benefits under the reactivated plan	60 months
Increase in unrecognized prior service cost due to reactivation of the plan	$ 5,900
Amortization period of increase in prior service cost	13 years
Change in benefit obligation
Benefit obligation at the beginning of the year	$ 36,330	$ 32,183
Interest cost	1,383	1,485	$ 1,370
Actuarial (gains) losses	(2,228)	5,709
Benefits paid	(2,418)	(3,047)
Benefit obligation at the end of the year	33,067	36,330	32,183
Change in plan assets
Fair value of plan assets at the beginning of the year	27,891	27,782
Actual return on plan assets	(152)	1,813
Employer contributions	1,000	1,343
Benefits paid	(2,418)	(3,047)
Fair value of plan assets at the end of the year	26,321	27,891	27,782
Funded status at end of year	(6,746)	(8,439)
Amounts recognized in AOCI
Net actuarial losses	$ (13,887)	$ (15,647)
Benefit obligation actuarial assumptions
Weighted average discount rate	4.30%	4.00%
Components of net periodic benefit cost
Interest cost	$ 1,383	$ 1,485	1,370
Expected return on plan assets	(1,893)	(1,924)	(1,762)
Amortization of net actuarial losses	1,577	1,068	2,390
Net periodic benefit cost	$ 1,067	$ 629	$ 1,998
Net periodic cost actuarial assumptions
Weighted average discount rate	4.00%	4.70%	4.00%
Expected long-term rate of return on plan assets	7.00%	7.00%	7.50%
SERPs
Change in benefit obligation
Benefit obligation at the beginning of the year	$ 10,930	$ 9,107
Interest cost	440	450	$ 411
Actuarial (gains) losses	(504)	1,588
Benefits paid	(215)	(215)
Benefit obligation at the end of the year	10,651	10,930	9,107
Change in plan assets
Fair value of plan assets at the beginning of the year	0	0
Employer contributions	215	215
Benefits paid	(215)	(215)
Fair value of plan assets at the end of the year	0	0	0
Funded status at end of year	10,651	10,930
Amounts recognized in AOCI
Net transition obligation	(129)	(147)
Prior service cost	(84)	(101)
Net actuarial losses	(1,353)	(1,965)
Total amounts recognized in AOCI	$ (1,566)	$ (2,213)
Benefit obligation actuarial assumptions
Weighted average discount rate	4.40%	4.10%
Components of net periodic benefit cost
Interest cost	$ 440	$ 450	411
Amortization of net transition obligation	16	17	17
Amortization of prior service cost	18	18	18
Amortization of net actuarial losses	111	2	71
Net periodic benefit cost	$ 585	$ 487	$ 517
Net periodic cost actuarial assumptions
Weighted average discount rate	4.10%	5.00%	4.20%

PENSION PLANS (Asset Allocation

PENSION PLANS (Asset Allocations) (Details) - Pension Plan - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS
Asset allocations by asset category	100.00%	100.00%
Equity Securities
PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS
Asset allocations by asset category	40.60%	56.10%
Equity securities included the entity's common stock	$ 0.1	$ 0.1
Debt Securities
PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS
Asset allocations by asset category	41.60%	41.80%
Other
PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS
Asset allocations by asset category	17.80%	2.10%

PENSION PLANS (Fair Value of De

PENSION PLANS (Fair Value of Defined Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value	$ 26,321	$ 27,891	$ 27,782
SERPs
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value	0	0	$ 0
Expected contribution to the defined benefit retirement plan	200
Quoted Prices in Active Markets for Identical Assets (Level 1) | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value	19,551	20,919
Significant Other Observable Inputs (Level 2) | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value	6,770	6,972
Money market accounts | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value	4,672	958
Money market accounts | Quoted Prices in Active Markets for Identical Assets (Level 1) | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value	4,672	958
Mutual funds | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value	9,140	9,946
Mutual funds | Quoted Prices in Active Markets for Identical Assets (Level 1) | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value	9,140	9,946
Government obligations | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value	4,117	3,900
Government obligations | Significant Other Observable Inputs (Level 2) | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value	4,117	3,900
Common Stock | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value	5,552	9,765
Common Stock | Quoted Prices in Active Markets for Identical Assets (Level 1) | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value	5,552	9,765
Preferred Stock | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value	187	250
Preferred Stock | Quoted Prices in Active Markets for Identical Assets (Level 1) | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value	187	250
Corporate securities | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value	2,653	3,072
Corporate securities | Significant Other Observable Inputs (Level 2) | Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value	$ 2,653	$ 3,072

PENSION PLANS (Amortization of

PENSION PLANS (Amortization of AOCI and Estimated Future Benefit Payments) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Pension Plan
Estimated amortization of components included in AOCI that will be recognized into net periodic cost for the next fiscal year
Amortization of net actuarial losses	$ 1,400
Estimated future benefit payments
2,016	2,531
2,017	2,494
2,018	2,479
2,019	2,435
2,020	2,390
2021-2025	11,131
Total	23,460
SERPs
Estimated amortization of components included in AOCI that will be recognized into net periodic cost for the next fiscal year
Amortization of net transition obligation	17
Amortization of prior service cost	18
Amortization of net actuarial losses	111
Estimated future benefit payments
2,016	232
2,017	423
2,018	419
2,019	415
2,020	407
2021-2025	3,116
Total	$ 5,012

401 (K) RETIREMENT SAVINGS PLAN

401 (K) RETIREMENT SAVINGS PLAN (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Employee's elective deferrals	100.00%
Matching contributions by employer (up to)	4.00%
Employer matching contributions to the Retirement Savings Plan	$ 1.6	$ 1.5	$ 1.7

OPERATING LEASES (Net Rent Expe

OPERATING LEASES (Net Rent Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
OPERATING LEASES
Total net rent expense	$ 9,292	$ 10,263	$ 9,881
Net Occupancy
OPERATING LEASES
Rent expense charged to equipment expense	9,287	10,210	9,840
Less sublease income	(25)	0	(52)
Total net rent expense	9,262	10,210	9,788
Equipment
OPERATING LEASES
Rent expense charged to equipment expense	$ 30	$ 53	$ 93
Minimum
OPERATING LEASES
Period for which option to extend the lease term is available	5 years
Maximum
OPERATING LEASES
Period for which option to extend the lease term is available	15 years

OPERATING LEASES (Future Minimu

OPERATING LEASES (Future Minimum Rental Commitments) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Rental Commitment
2,016	$ 7,317
2,017	5,991
2,018	4,903
2,019	4,095
2,020	3,640
Thereafter	23,817
Total	$ 49,763

OPERATING LEASES (Future Mini96

OPERATING LEASES (Future Minimum Rental Income) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Future minimum rental income for those noncancellable operating leases that had initial lease terms in excess of one year
2,016	$ 2,602
2,017	2,063
2,018	1,170
2,019	559
2,020	248
Thereafter	421
Total	$ 7,063

INCOME AND FRANCHISE TAXES (Inc

INCOME AND FRANCHISE TAXES (Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current
Federal	$ 1,128	$ 0	$ 0
State	(119)	(93)	(109)
Total	1,009	(93)	(109)
Deferred
Federal	20,061	18,710	(81,613)
State	6,018	1,772	(30,525)
Total	26,079	20,482	(112,138)
Total
Federal	21,189	18,710	(81,613)
State	5,899	1,679	(30,634)
Total	$ 27,088	20,389	(112,247)
Reconciliation between the income tax benefit and the expected tax benefit
U.S. Federal corporate tax rate	35.00%
Computed “expected” tax expense (benefit)	$ 25,535	21,295	20,940
Increase (decrease) in taxes resulting from:
Tax-exempt interest	(1,420)	(1,412)	(1,431)
Other tax-exempt income	(712)	(1,023)	(810)
Low-income housing and energy tax credits	(1,225)	(2,088)	(1,557)
State income taxes, net of Federal income tax effect, excluding impact of deferred tax valuation allowance	3,958	2,638	2,389
Change in the beginning-of-the-year balance of the valuation allowance for deferred tax assets allocated to income tax expense	(44)	(180)	(129,806)
Other	996	1,159	(1,972)
Total	$ 27,088	$ 20,389	$ (112,247)

INCOME AND FRANCHISE TAXES (Def

INCOME AND FRANCHISE TAXES (Deferred Tax Assets and Liabilities) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2013	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets
Allowance for loan and lease losses		$ 22,275,000	$ 26,052,000
Accrued expenses		2,555,000	2,981,000
Employee retirement benefits		6,921,000	11,023,000
Federal and state tax credit carryforwards		34,821,000	30,593,000
Interest on nonaccrual loans		606,000	1,600,000
Federal and state net operating loss carryforwards		19,850,000	57,173,000
Restricted stock and nonqualified stock options		1,049,000	0
Other		9,227,000	13,357,000
Total deferred tax assets		97,304,000	142,779,000
Deferred tax liabilities
Intangible assets		10,006,000	11,803,000
FHLB stock dividends received		0	10,742,000
Leases		423,000	1,203,000
Deferred gain on curtailed retirement plan		0	3,315,000
Liability on utilization of state tax credits		0	6,237,000
Other		2,093,000	2,234,000
Total deferred tax liabilities		12,522,000	35,534,000
Deferred tax valuation allowance		2,803,000	2,847,000
Net deferred tax assets		81,979,000	104,398,000
Net change in the total valuation allowance		0	3,900,000
Net impact of reversing the valuation allowance recorded as provision for income tax benefit	$ 119,800,000
Federal
Income Tax Contingency [Line Items]
Income tax receivable, current		600,000	$ 0
State
Income Tax Contingency [Line Items]
Income tax receivable, current		$ 1,700,000

INCOME AND FRANCHISE TAXES (Tax

INCOME AND FRANCHISE TAXES (Tax Credit Carryforwards) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Operating loss carryforwards
Net deferred tax assets	$ 81,979,000	$ 104,398,000
Expiration period of tax credit carryforwards	20 years
Unrecognized tax benefits that, if recognized would favorably affect the effective income tax rate	$ 0
Federal
Operating loss carryforwards
Net operating loss carryforwards	48,800,000
Tax credit carryforwards that do not expire	6,500,000
Tax credit carryforwards	18,300,000
Tax credit carryforwards that expire	11,800,000
State
Operating loss carryforwards
Tax credit carryforwards that do not expire	14,800,000
State | CALIFORNIA
Operating loss carryforwards
Net operating loss carryforwards	$ 39,300,000

ACCUMULATED OTHER COMPREHENS100

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Components of Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net unrealized gains/losses on investment securities, Before Tax
Net unrealized gains/(losses) arising during the period	$ (9,184)	$ 36,780	$ (43,687)
Less: Reclassification adjustment for losses realized in net income	1,866	1,071	(6,266)
Net unrealized gains/(losses) on investment securities	(7,318)	37,851	(49,953)
Net unrealized gains/(losses) on derivatives, Before Tax
Reclassification adjustment for losses realized in net income			394
Net unrealized losses on derivatives			394
Defined benefit plans, Before Tax
Net actuarial gains/losses arising during the period	687	(7,409)	6,952
Amortization of net actuarial losses	1,688	1,070	2,461
Amortization of net transition obligation	16	17	17
Amortization of prior service cost	18	18	18
Defined benefit plans, net	2,409	(6,304)	9,448
Other comprehensive income (loss)	(4,909)	31,547	(40,111)
Net unrealized gains/losses on investment securities, Tax Effect
Net unrealized gains/losses arising during the period	(3,655)	14,714	(15,577)
Less: Reclassification adjustment for gains/losses realized in net income	742	426	(2,511)
Net unrealized gains (losses) on investment securities	(2,913)	15,140	(18,088)
Net unrealized gains/losses on derivatives, Tax Effect
Reclassification adjustment for losses realized in net income			(10,599)
Net unrealized losses on derivatives			(10,599)
Defined benefit plans, Tax Effect
Net actuarial gains/losses arising during the period	274	(3,052)	2,591
Amortization of net actuarial losses	672	441	986
Amortization of net transition obligation	7	7	7
Amortization of prior service cost	7	7	7
Defined benefit plans, net	960	(2,597)	3,591
Other comprehensive income (loss)	(1,953)	12,543	(25,096)
Net unrealized gains/losses on investment securities, Net of Tax
Net unrealized gains/losses arising during the period	(5,529)	22,066	(28,110)
Less: Reclassification adjustment for gains/losses realized in net income	1,124	645	(3,755)
Net unrealized gains (losses) on investment securities	(4,405)	22,711	(31,865)
Net unrealized gains/losses on derivatives, Net of Tax
Reclassification adjustment for losses realized in net income			10,993
Net unrealized losses on derivatives	0	0	10,993
Defined benefit plans, Net of Tax
Net actuarial gains/losses arising during the period	413	(4,357)	4,361
Amortization of net actuarial losses	1,016	629	1,475
Amortization of net transition obligation	9	10	10
Amortization of prior service cost	11	11	11
Defined benefit plans, net	1,449	(3,707)	5,857
Other comprehensive income (loss), net of tax	$ (2,956)	$ 19,004	$ (15,015)

ACCUMULATED OTHER COMPREHENS101

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Changes in AOCI) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Changes in each component of accumulated other comprehensive income (loss), net of tax
Balance at the beginning of the period	$ 3,159	$ (15,845)	$ (830)
Other comprehensive income (loss) before reclassifications	(5,116)	17,709	(23,749)
Amounts reclassified from AOCI	2,160	1,295	8,734
Other comprehensive income (loss), net of tax	(2,956)	19,004	(15,015)
Balance at the end of the period	203	3,159	(15,845)
Investment Securities
Changes in each component of accumulated other comprehensive income (loss), net of tax
Balance at the beginning of the period	13,586	(9,125)	22,740
Other comprehensive income (loss) before reclassifications	(5,529)	22,066	(28,110)
Amounts reclassified from AOCI	1,124	645	(3,755)
Other comprehensive income (loss), net of tax	(4,405)	22,711	(31,865)
Balance at the end of the period	9,181	13,586	(9,125)
Derivatives
Changes in each component of accumulated other comprehensive income (loss), net of tax
Balance at the beginning of the period	0	0	(10,993)
Other comprehensive income (loss) before reclassifications	0	0	0
Amounts reclassified from AOCI	0	0	10,993
Other comprehensive income (loss), net of tax	0	0	10,993
Balance at the end of the period	0	0	0
Defined Benefit Plans
Changes in each component of accumulated other comprehensive income (loss), net of tax
Balance at the beginning of the period	(10,427)	(6,720)	(12,577)
Other comprehensive income (loss) before reclassifications	413	(4,357)	4,361
Amounts reclassified from AOCI	1,036	650	1,496
Other comprehensive income (loss), net of tax	1,449	(3,707)	5,857
Balance at the end of the period	$ (8,978)	$ (10,427)	$ (6,720)

ACCUMULATED OTHER COMPREHENS102

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Reclassified Out of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Amounts reclassified out of each component of accumulated other comprehensive income
Investment securities gains (losses)	$ 0		$ (1,866)	$ 0	$ 0	$ 0	$ 240	$ 0	$ (1,866)	$ 240	$ 482
Tax (expense) benefit									(27,088)	(20,389)	112,247
Interest income	39,916	$ 39,442	38,896	37,781	37,741	37,139	37,536	37,393	156,035	149,809	140,278
Amortization of net actuarial losses									(1,688)	(1,070)	(2,461)
Net transition obligation									(16)	(17)	(17)
Net transition obligation									(18)	(18)	(18)
Total reclassifications for the period	$ 10,932	$ 12,206	$ 12,335	$ 10,395	$ 13,265	$ 8,230	$ 9,150	$ 9,808	45,868	40,453	172,075
Amount Reclassified from AOCI
Amounts reclassified out of each component of accumulated other comprehensive income
Total reclassifications for the period									(2,160)	(1,295)	(8,734)
Investment Securities | Amount Reclassified from AOCI
Amounts reclassified out of each component of accumulated other comprehensive income
Investment securities gains (losses)									(1,866)	(1,071)	6,266
Tax (expense) benefit									742	426	(2,511)
Net of tax									(1,124)	(645)	3,755
Derivatives | Amount Reclassified from AOCI
Amounts reclassified out of each component of accumulated other comprehensive income
Tax (expense) benefit									0	0	(10,599)
Interest income									0	0	(394)
Net of tax									0	0	(10,993)
Defined Benefit Plans | Amount Reclassified from AOCI
Amounts reclassified out of each component of accumulated other comprehensive income
Tax (expense) benefit									686	455	1,000
Amortization of net actuarial losses									(1,688)	(1,070)	(2,461)
Net transition obligation									(16)	(17)	(17)
Net transition obligation									(18)	(18)	(18)
Total before tax									(1,722)	(1,105)	(2,496)
Net of tax									$ (1,036)	$ (650)	$ (1,496)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SHARE-BASED COMPENSATION
Net income	$ 10,932	$ 12,206	$ 12,335	$ 10,395	$ 13,265	$ 8,230	$ 9,150	$ 9,808	$ 45,868	$ 40,453	$ 172,075
Weighted average shares outstanding - basic (in shares)									32,238,000	37,366,000	41,961,000
Dilutive effect of Treasury warrants (in shares)									0	0	14,000
Weighted average shares outstanding - diluted (in shares)									32,651,000	37,937,000	42,317,000
Basic earnings per share (in dollars per share)	$ 0.35	$ 0.39	$ 0.39	$ 0.30	$ 0.37	$ 0.23	$ 0.25	$ 0.23	$ 1.42	$ 1.08	$ 4.10
Diluted earnings per share (in dollars per share)	$ 0.34	$ 0.38	$ 0.39	$ 0.29	$ 0.37	$ 0.23	$ 0.25	$ 0.23	$ 1.40	$ 1.07	$ 4.07
Antidilutive securities excluded from the dilutive share calculation (in shares)									8,217	13,510	24,526
Stock Option
SHARE-BASED COMPENSATION
Dilutive effect of share-based compensation arrangements (in shares)									413,000	571,000	341,000
Restricted Stock Awards and Units
SHARE-BASED COMPENSATION
Dilutive effect of share-based compensation arrangements (in shares)									0	0	1,000

FINANCIAL INSTRUMENTS WITH O104

FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Commitments to extend credit
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK
Financial instruments whose contract amounts represent credit risk	$ 801,835	$ 720,255
Financial instruments whose contract amounts exceed the amount of credit risk	720,255
Standby letters of credit and financial guarantees written
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK
Financial instruments whose contract amounts represent credit risk	13,434	18,797
Financial instruments whose contract amounts exceed the amount of credit risk	18,797
Interest rate options
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK
Financial instruments whose contract amounts exceed the amount of credit risk	24,009	44,266
Forward interest rate contracts
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK
Financial instruments whose contract amounts exceed the amount of credit risk	$ 9,973	$ 23,919

FAIR VALUE OF ASSETS AND LIA105

FAIR VALUE OF ASSETS AND LIABILITIES (Carrying Amount and Estimated Fair Value of Financial Instruments) (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Financial assets
Cash and due from banks	$ 71,797,000	$ 72,316,000
Interest-bearing deposits in other banks	8,397,000	13,691,000
Loans held for sale	14,109,000	9,683,000
Accrued interest receivable	14,898,000	13,584,000
Financial liabilities
Noninterest-bearing demand	1,145,244,000	1,034,146,000
Time deposits	1,064,207,000	1,045,284,000
Transfers of financial assets from Level 1 to Level 2	0
Transfers of financial assets from Level 2 to Level 1	0
Transfers of financial liabilities from Level 1 to Level 2	0
Transfers of financial liabilities from Level 2 to Level 1	0
Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial assets
Cash and due from banks	71,797,000	72,316,000
Interest-bearing deposits in other banks	8,397,000	13,691,000
Investment securities	916,000	877,000
Accrued interest receivable	14,898,000	13,584,000
Financial liabilities
Noninterest-bearing demand	1,145,244,000	1,034,146,000
Interest-bearing demand and savings deposits	2,223,988,000	2,030,870,000
Accrued interest payable (included in other liabilities)	1,072,000	1,018,000
Significant Other Observable Inputs (Level 2)
Financial assets
Investment securities	1,502,996,000	1,450,643,000
Net loans and leases	38,205,000	70,743,000
Financial liabilities
Short-term debt	69,000,000	38,000,000
Long-term debt	67,421,000	42,454,000
Significant Unobservable Inputs (Level 3)
Financial assets
Investment securities	12,479,000	13,095,000
Loans held for sale	14,109,000	9,683,000
Net loans and leases	3,056,199,000	2,681,677,000
Financial liabilities
Time deposits	1,064,255,000	1,047,322,000
Carrying Amount
Financial assets
Cash and due from banks	71,797,000	72,316,000
Interest-bearing deposits in other banks	8,397,000	13,691,000
Investment securities	1,520,172,000	1,467,305,000
Loans held for sale	14,109,000	9,683,000
Net loans and leases	3,148,218,000	2,858,158,000
Accrued interest receivable	14,898,000	13,584,000
Financial liabilities
Noninterest-bearing demand	1,145,244,000	1,034,146,000
Interest-bearing demand and savings deposits	2,223,988,000	2,030,870,000
Time deposits	1,064,207,000	1,045,284,000
Short-term debt	69,000,000	38,000,000
Long-term debt	92,785,000	92,785,000
Accrued interest payable (included in other liabilities)	1,072,000	1,018,000
Estimated Fair Value
Financial assets
Cash and due from banks	71,797,000	72,316,000
Interest-bearing deposits in other banks	8,397,000	13,691,000
Investment securities	1,516,391,000	1,464,615,000
Loans held for sale	14,109,000	9,683,000
Net loans and leases	3,094,404,000	2,752,420,000
Accrued interest receivable	14,898,000	13,584,000
Financial liabilities
Noninterest-bearing demand	1,145,244,000	1,034,146,000
Interest-bearing demand and savings deposits	2,223,988,000	2,030,870,000
Time deposits	1,064,255,000	1,047,322,000
Short-term debt	69,000,000	38,000,000
Long-term debt	67,421,000	42,454,000
Accrued interest payable (included in other liabilities)	1,072,000	1,018,000
Commitments to extend credit
Financial liabilities
Off-balance sheet financial instruments	720,255,000
Commitments to extend credit | Significant Other Observable Inputs (Level 2)
Financial liabilities
Off-balance sheet financial instruments	1,014,000	3,601,000
Commitments to extend credit | Carrying Amount
Financial liabilities
Off-balance sheet financial instruments	801,835,000
Commitments to extend credit | Estimated Fair Value
Financial liabilities
Off-balance sheet financial instruments	1,014,000	3,601,000
Standby letters of credit and financial guarantees written
Financial liabilities
Off-balance sheet financial instruments	18,797,000
Standby letters of credit and financial guarantees written | Significant Other Observable Inputs (Level 2)
Financial liabilities
Off-balance sheet financial instruments	202,000	141,000
Standby letters of credit and financial guarantees written | Carrying Amount
Financial liabilities
Off-balance sheet financial instruments	13,434,000
Standby letters of credit and financial guarantees written | Estimated Fair Value
Financial liabilities
Off-balance sheet financial instruments	202,000	141,000
Interest rate options
Financial liabilities
Off-balance sheet financial instruments	24,009,000	44,266,000
Interest rate options | Significant Other Observable Inputs (Level 2)
Financial liabilities
Off-balance sheet financial instruments	43,000	444,000
Interest rate options | Carrying Amount
Financial liabilities
Off-balance sheet financial instruments	24,009,000
Interest rate options | Estimated Fair Value
Financial liabilities
Off-balance sheet financial instruments	43,000	444,000
Forward interest rate contracts
Financial liabilities
Off-balance sheet financial instruments	9,973,000	23,919,000
Forward interest rate contracts | Significant Other Observable Inputs (Level 2)
Financial liabilities
Off-balance sheet financial instruments	15,000	(62,000)
Forward interest rate contracts | Carrying Amount
Financial liabilities
Off-balance sheet financial instruments	9,973,000
Forward interest rate contracts | Estimated Fair Value
Financial liabilities
Off-balance sheet financial instruments	$ 15,000	$ (62,000)

FAIR VALUE OF ASSETS AND LIA106

FAIR VALUE OF ASSETS AND LIABILITIES (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets and liabilities measured at fair value
Available for sale, at fair value	$ 1,272,255	$ 1,229,018
States and political subdivisions
Assets and liabilities measured at fair value
Available for sale, at fair value	190,473	191,645
Corporate securities
Assets and liabilities measured at fair value
Available for sale, at fair value	108,571	100,604
Other
Assets and liabilities measured at fair value
Available for sale, at fair value	916	877
Recurring basis
Assets and liabilities measured at fair value
Total	1,272,314	1,229,400
Recurring basis | Derivatives - Interest rate contracts
Assets and liabilities measured at fair value
Derivatives	59	382
Recurring basis | States and political subdivisions
Assets and liabilities measured at fair value
Available for sale, at fair value	190,473	191,645
Recurring basis | Corporate securities
Assets and liabilities measured at fair value
Available for sale, at fair value	108,571	100,604
Recurring basis | Mortgage-backed securities:
Assets and liabilities measured at fair value
Available for sale, at fair value	771,909	751,558
Recurring basis | Non-agency collateralized mortgage-backed securities
Assets and liabilities measured at fair value
Available for sale, at fair value	200,386	184,334
Recurring basis | Other
Assets and liabilities measured at fair value
Available for sale, at fair value	916	877
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis
Assets and liabilities measured at fair value
Total	916	877
Quoted Prices in Active Markets for Identical Assets (Level 1) | Recurring basis | Other
Assets and liabilities measured at fair value
Available for sale, at fair value	916	877
Significant Other Observable Inputs (Level 2) | Recurring basis
Assets and liabilities measured at fair value
Total	1,258,919	1,215,428
Significant Other Observable Inputs (Level 2) | Recurring basis | Derivatives - Interest rate contracts
Assets and liabilities measured at fair value
Derivatives	59	382
Significant Other Observable Inputs (Level 2) | Recurring basis | States and political subdivisions
Assets and liabilities measured at fair value
Available for sale, at fair value	177,994	178,550
Significant Other Observable Inputs (Level 2) | Recurring basis | Corporate securities
Assets and liabilities measured at fair value
Available for sale, at fair value	108,571	100,604
Significant Other Observable Inputs (Level 2) | Recurring basis | Mortgage-backed securities:
Assets and liabilities measured at fair value
Available for sale, at fair value	771,909	751,558
Significant Other Observable Inputs (Level 2) | Recurring basis | Non-agency collateralized mortgage-backed securities
Assets and liabilities measured at fair value
Available for sale, at fair value	200,386	184,334
Significant Unobservable Inputs (Level 3) | Recurring basis
Assets and liabilities measured at fair value
Total	12,479	13,095
Significant Unobservable Inputs (Level 3) | Recurring basis | States and political subdivisions
Assets and liabilities measured at fair value
Available for sale, at fair value	$ 12,479	$ 13,095

FAIR VALUE OF ASSETS AND LIA107

FAIR VALUE OF ASSETS AND LIABILITIES (Level 3 Assets and Liabilities) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)bond	Dec. 31, 2014USD ($)
States and political subdivisions
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis
Principal payments received	$ (987)	$ (275)
Purchases	0	2,706
Unrealized net loss included in other comprehensive loss	371	146
Mortgage revenue bonds
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis
Aggregate fair value / Balance at the beginning of the period	13,095	10,518
Aggregate fair value / Balance at the end of the period	$ 12,479	$ 13,095
Additional disclosures
Number of investment securities held | bond	4
Mortgage revenue bonds | Weighted average
Additional disclosures
Discount rate	4.13%

FAIR VALUE OF ASSETS AND LIA108

FAIR VALUE OF ASSETS AND LIABILITIES (Assets Measured on a Nonrecurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets measured at fair value on a nonrecurring basis
Other real estate	$ 1,962	$ 2,948
Nonrecurring basis
Total Losses
Impaired loans	111	2,532
Other real estate	220	1,540
Total Losses	331	4,072
Significant Other Observable Inputs (Level 2) | Nonrecurring basis
Assets measured at fair value on a nonrecurring basis
Impaired loans	38,153	70,743
Other real estate	1,962	2,948
Estimated Fair Value | Nonrecurring basis
Assets measured at fair value on a nonrecurring basis
Impaired loans	$ 38,153	$ 70,743

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)segment	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment									3
SEGMENT INFORMATION
Net interest income (expense)	$ 38,194	$ 37,805	$ 37,294	$ 36,235	$ 36,184	$ 35,532	$ 35,906	$ 35,796	$ 149,528	$ 143,418	$ 133,109
Credit (provision) for loan and lease losses	1,958	3,647	7,319	2,747	5,371	1,722	(1,995)	1,316	15,671	6,414	11,310
Other operating income									38,984	43,823	54,945
Other operating expense									(131,227)	(132,813)	(139,536)
Administrative and overhead expense allocation									0	0	0
Income taxes									(27,088)	(20,389)	112,247
Net income	10,932	$ 12,206	$ 12,335	$ 10,395	13,265	$ 8,230	$ 9,150	$ 9,808	45,868	40,453	172,075
Investment securities	1,520,172				1,467,305				1,520,172	1,467,305
Loans and leases (including loans held for sale)	3,225,641				2,941,881				3,225,641	2,941,881
Other	385,475				443,801				385,475	443,801
Total assets	5,131,288				4,852,987				5,131,288	4,852,987
Banking Operations
SEGMENT INFORMATION
Net interest income (expense)									115,936	108,815	101,282
Credit (provision) for loan and lease losses									15,671	6,414	11,310
Other operating income									23,447	24,496	26,140
Other operating expense									(59,273)	(60,587)	(58,891)
Administrative and overhead expense allocation									(59,266)	(59,610)	(54,851)
Income taxes									(28,070)	(18,843)	117,088
Net income									52,131	34,993	159,025
Investment securities	0				0				0	0
Loans and leases (including loans held for sale)	3,225,641				2,941,881				3,225,641	2,941,881
Other	74,963				111,071				74,963	111,071
Total assets	3,300,604				3,052,952				3,300,604	3,052,952
Treasury
SEGMENT INFORMATION
Net interest income (expense)									33,592	34,603	31,827
Credit (provision) for loan and lease losses									0	0	0
Other operating income									967	4,042	3,137
Other operating expense									(1,859)	(2,086)	(3,788)
Administrative and overhead expense allocation									(1,042)	(1,126)	(2,004)
Income taxes									(29)	(727)	218
Net income									53	1,350	(1,285)
Investment securities	1,520,172				1,467,305				1,520,172	1,467,305
Loans and leases (including loans held for sale)	0				0				0	0
Other	226,172				248,455				226,172	248,455
Total assets	1,746,344				1,715,760				1,746,344	1,715,760
All Others
SEGMENT INFORMATION
Net interest income (expense)									0	0	0
Credit (provision) for loan and lease losses									0	0	0
Other operating income									14,570	15,285	25,668
Other operating expense									(70,095)	(70,140)	(76,857)
Administrative and overhead expense allocation									60,308	60,736	56,855
Income taxes									1,011	(819)	(5,059)
Net income									(6,316)	4,110	14,335
Investment securities	0				0				0	0
Loans and leases (including loans held for sale)	0				0				0	0
Other	84,340				84,275				84,340	84,275
Total assets	$ 84,340				$ 84,275				84,340	84,275
Intersegment elimination
SEGMENT INFORMATION
Net interest income (expense)									0	0	0
Intersegment elimination | Banking Operations
SEGMENT INFORMATION
Net interest income (expense)									43,686	34,308	16,947
Intersegment elimination | Treasury
SEGMENT INFORMATION
Net interest income (expense)									(31,576)	(33,356)	(30,675)
Intersegment elimination | All Others
SEGMENT INFORMATION
Net interest income (expense)									$ (12,110)	$ (952)	$ 13,728

PARENT COMPANY AND REGULATOR110

PARENT COMPANY AND REGULATORY RESTRICTIONS (Required Capital and Capital Ratios) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Leverage capital
Actual Amount	$ 532,787	$ 562,063
Actual Ratio	10.70%	12.00%
Minimum amount required to be adequately capitalized	$ 199,350	$ 186,922
Minimum ratio required to be adequately capitalized	4.00%	4.00%
Minimum amount required to be well-capitalized	$ 249,187	$ 233,652
Minimum ratio required to be well-capitalized	5.00%	5.00%
Tier 1 risk-based capital
Actual Amount	$ 532,787	$ 562,063
Actual Ratio	14.40%	17.00%
Minimum amount required to be adequately capitalized	$ 221,808	$ 132,475
Minimum ratio required to be adequately capitalized	6.00%	4.00%
Minimum amount required to be well-capitalized	$ 295,745	$ 198,712
Minimum ratio required to be well-capitalized	8.00%	6.00%
Total risk-based capital
Actual Amount	$ 579,651	$ 603,939
Actual Ratio	15.70%	18.20%
Minimum amount required to be adequately capitalized	$ 295,745	$ 264,949
Minimum ratio required to be adequately capitalized	8.00%	8.00%
Minimum amount required to be well-capitalized	$ 369,681	$ 331,187
Minimum ratio required to be well-capitalized	10.00%	10.00%
CET1 risk-based capital
Actual Amount	$ 472,698
Actual Ratio	12.80%
Minimum amount required for capital adequacy purposes	$ 166,356
Minimum ratio required for capital adequacy purposes	4.50%
Minimum amount equired to be well-capitalized	$ 240,292
Minimum ratio required to be well-capitalized	6.50%
Central Bank
PARENT COMPANY AND REGULATORY RESTRICTIONS
Equity in undistributed losses	$ 417,900
Retained earnings		$ 63,700
Leverage capital
Actual Amount	$ 518,617	$ 540,273
Actual Ratio	10.40%	11.60%
Minimum amount required to be adequately capitalized	$ 199,098	$ 186,828
Minimum ratio required to be adequately capitalized	4.00%	4.00%
Minimum amount required to be well-capitalized	$ 248,872	$ 233,535
Minimum ratio required to be well-capitalized	5.00%	5.00%
Tier 1 risk-based capital
Actual Amount	$ 518,617	$ 540,273
Actual Ratio	14.10%	16.30%
Minimum amount required to be adequately capitalized	$ 221,435	$ 132,376
Minimum ratio required to be adequately capitalized	6.00%	4.00%
Minimum amount required to be well-capitalized	$ 295,247	$ 198,564
Minimum ratio required to be well-capitalized	8.00%	6.00%
Total risk-based capital
Actual Amount	$ 565,231	$ 582,068
Actual Ratio	15.30%	17.60%
Minimum amount required to be adequately capitalized	$ 295,247	$ 264,752
Minimum ratio required to be adequately capitalized	8.00%	8.00%
Minimum amount required to be well-capitalized	$ 369,058	$ 330,940
Minimum ratio required to be well-capitalized	10.00%	10.00%
CET1 risk-based capital
Actual Amount	$ 518,617
Actual Ratio	14.10%
Minimum amount required for capital adequacy purposes	$ 166,076
Minimum ratio required for capital adequacy purposes	4.50%
Minimum amount equired to be well-capitalized	$ 239,888
Minimum ratio required to be well-capitalized	6.50%

PARENT COMPANY AND REGULATOR111

PARENT COMPANY AND REGULATORY RESTRICTIONS (Condensed Balance Sheets) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Assets
Cash and cash equivalents	$ 80,194	$ 86,007	$ 49,348	$ 177,375
Investment securities available for sale	1,272,255	1,229,018
Total assets	5,131,288	4,852,987
Liabilities and Shareholders' Equity
Long-term debt	92,785	92,785
Other liabilities	41,425	43,861
Total liabilities	$ 4,636,649	$ 4,284,946
Shareholders' equity:
Preferred stock, no par value, authorized 1,100,000 shares; issued and outstanding none at December 31, 2015 and 2014
Common stock, no par value, authorized 185,000,000 shares; issued and outstanding 31,361,452 and 35,233,674 shares at December 31, 2015 and 2014, respectively	$ 548,878	$ 642,205
Surplus	82,847	79,716
Accumulated deficit	(137,314)	(157,039)
Accumulated other comprehensive income	203	3,159	(15,845)	(830)
Total shareholders’ equity	494,614	568,041
Non-controlling interest	25	0
Total equity	494,639	568,041	660,174	514,779
Total liabilities and equity	5,131,288	4,852,987
Parent
Assets
Cash and cash equivalents	12,559	22,775	$ 19,629	$ 46,686
Investment securities available for sale	917	877
Investment in subsidiary bank, at equity in underlying net assets	551,156	612,505
Investment in other subsidiaries, at equity in underlying assets	0	0
Accrued interest receivable and other assets	24,560	26,136
Total assets	589,192	662,293
Liabilities and Shareholders' Equity
Long-term debt	92,785	92,785
Other liabilities	1,768	1,467
Total liabilities	$ 94,553	$ 94,252
Shareholders' equity:
Preferred stock, no par value, authorized 1,100,000 shares; issued and outstanding none at December 31, 2015 and 2014
Common stock, no par value, authorized 185,000,000 shares; issued and outstanding 31,361,452 and 35,233,674 shares at December 31, 2015 and 2014, respectively	$ 548,878	$ 642,205
Surplus	82,847	79,716
Accumulated deficit	(137,314)	(157,039)
Accumulated other comprehensive income	203	3,159
Total shareholders’ equity	494,614	568,041
Non-controlling interest	25	0
Total equity	494,639	568,041
Total liabilities and equity	$ 589,192	$ 662,293

PARENT COMPANY AND REGULATOR112

PARENT COMPANY AND REGULATORY RESTRICTIONS (Condensed Balance Sheets Parenthetical) (Details) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Condensed Financial Statement
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, authorized shares	1,100,000	1,100,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, authorized shares	185,000,000	185,000,000
Common stock, issued shares	31,361,452	35,233,674
Common stock, outstanding shares	31,361,452	35,233,674
Parent
Condensed Financial Statement
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, authorized shares	1,100,000	1,100,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, authorized shares	185,000,000	185,000,000
Common stock, issued shares	31,361,452	35,233,674
Common stock, outstanding shares	31,361,452	35,233,674

PARENT COMPANY AND REGULATOR113

PARENT COMPANY AND REGULATORY RESTRICTIONS (Condensed Statements of Income) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Expense:
Interest on long-term debt									$ 2,626	$ 2,572	$ 3,119
Income tax expense (benefit)									27,088	20,389	(112,247)
Net income	$ 10,932	$ 12,206	$ 12,335	$ 10,395	$ 13,265	$ 8,230	$ 9,150	$ 9,808	45,868	40,453	172,075
Parent
Income:
Dividends from subsidiary banks									111,765	159,319	0
Interest income:
Interest from subsidiary banks									9	16	30
Other income									91	89	2,001
Total income									111,865	159,424	2,031
Expense:
Interest on long-term debt									2,626	2,572	3,118
Other expenses									2,551	2,262	2,679
Total expenses									5,177	4,834	5,797
Gain (loss) before income taxes and equity in undistributed income of subsidiaries									106,688	154,590	(3,766)
Income tax expense (benefit)									670	(2,520)	(31,891)
Income before equity in undistributed income of subsidiaries									106,018	157,110	28,125
Equity in undistributed income (loss) of subsidiary bank									(60,150)	(116,657)	143,945
Equity in undistributed income of other subsidiaries									0	0	5
Net income									$ 45,868	$ 40,453	$ 172,075

PARENT COMPANY AND REGULATOR114

PARENT COMPANY AND REGULATORY RESTRICTIONS (Condensed Statements of Cash Flows) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities
Net income	$ 10,932	$ 12,206	$ 12,335	$ 10,395	$ 13,265	$ 8,230	$ 9,150	$ 9,808	$ 45,868	$ 40,453	$ 172,075
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Deferred income tax benefit									26,079	20,482	(112,138)
Share-based compensation									3,131	4,218	4,931
Net cash provided by operating activities									74,505	71,432	84,531
Cash flows from investing activities
Distributions from unconsolidated subsidiaries									524	531	9,615
Net return of capital from (contributions to) unconsolidated subsidiaries									0	466	(9,050)
Net cash used in investing activities									(315,141)	(83,135)	(442,050)
Cash flows from financing activities
Net proceeds from issuance of common stock and stock option exercises									360	74	74
Repayments of long-term debt									0	(14)	(15,482)
Repurchases of common stock									(93,533)	(142,405)	0
Dividends paid									(26,143)	(13,405)	(6,735)
Net cash provided by financing activities									234,823	48,362	229,492
Net increase (decrease) in cash and cash equivalents									(5,813)	36,659	(128,027)
At beginning of year				86,007				49,348	86,007	49,348	177,375
At end of year	80,194				86,007				80,194	86,007	49,348
Parent
Cash flows from operating activities
Net income									45,868	40,453	172,075
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Deferred income tax benefit									670	(2,520)	(25,707)
Equity in undistributed income (loss) of subsidiary bank									60,150	116,657	(143,945)
Equity in undistributed income of other subsidiaries									0	0	(5)
Share-based compensation									1,429	4,218	4,931
Accrued interest payable									0	0	(11,919)
Other, net									983	(923)	(362)
Net cash provided by operating activities									109,100	157,885	(4,932)
Cash flows from investing activities
Distributions from unconsolidated subsidiaries									0	479	9,000
Net return of capital from (contributions to) unconsolidated subsidiaries									0	518	(9,000)
Net cash used in investing activities									0	997	0
Cash flows from financing activities
Net proceeds from issuance of common stock and stock option exercises									360	74	74
Repayments of long-term debt									0	0	(15,464)
Repurchases of common stock									(93,533)	(142,405)	0
Dividends paid									(26,143)	(13,405)	(6,735)
Net cash provided by financing activities									(119,316)	(155,736)	(22,125)
Net increase (decrease) in cash and cash equivalents									(10,216)	3,146	(27,057)
At beginning of year				$ 22,775				$ 19,629	22,775	19,629	46,686
At end of year	$ 12,559				$ 22,775				$ 12,559	$ 22,775	$ 19,629

UNAUDITED QUARTERLY FINANCIA115

UNAUDITED QUARTERLY FINANCIAL INFORMATION (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Total interest income	$ 39,916	$ 39,442	$ 38,896	$ 37,781	$ 37,741	$ 37,139	$ 37,536	$ 37,393	$ 156,035	$ 149,809	$ 140,278
Total interest expense	1,722	1,637	1,602	1,546	1,557	1,607	1,630	1,597	6,507	6,391	7,169
Net interest income	38,194	37,805	37,294	36,235	36,184	35,532	35,906	35,796	149,528	143,418	133,109
Provision (credit) for loan and lease losses	(1,958)	(3,647)	(7,319)	(2,747)	(5,371)	(1,722)	1,995	(1,316)	(15,671)	(6,414)	(11,310)
Net interest income after provision for loan and lease losses	40,152	$ 41,452	44,613	38,982	41,555	37,254	33,911	37,112	165,199	149,832	144,419
Investment securities gains (losses)	0		(1,866)	0	0	0	240	0	(1,866)	240	482
Income before income taxes	17,417	$ 19,106	20,279	16,154	19,018	13,471	13,027	15,326	72,956	60,842	59,828
Net income	$ 10,932	$ 12,206	$ 12,335	$ 10,395	$ 13,265	$ 8,230	$ 9,150	$ 9,808	$ 45,868	$ 40,453	$ 172,075
Basic earnings per share (in dollars per share)	$ 0.35	$ 0.39	$ 0.39	$ 0.30	$ 0.37	$ 0.23	$ 0.25	$ 0.23	$ 1.42	$ 1.08	$ 4.10
Diluted earnings per share (in dollars per share)	$ 0.34	$ 0.38	$ 0.39	$ 0.29	$ 0.37	$ 0.23	$ 0.25	$ 0.23	$ 1.40	$ 1.07	$ 4.07

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Common Stock - Repurchase Agreements - USD ($)	Jan. 27, 2016	Dec. 31, 2015
Subsequent events
Remaining amount available for repurchase		$ 20,200,000
Subsequent Event
Subsequent events
Increase in authorized amount	$ 30,000,000