Central Pacific Financial (CPF) 10-Q 3 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 22, 2016
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	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		31,068,287

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets
Cash and due from banks	$ 85,495	$ 71,797
Interest-bearing deposits in other banks	7,180	8,397
Investment securities:
Available-for-sale, at fair value	1,299,176	1,272,255
Held-to-maturity, at amortized cost (fair value of $243,072 at March 31, 2016 and $244,136 at December 31, 2015)	241,597	247,917
Total investment securities	1,540,773	1,520,172
Loans held for sale	11,270	14,109
Loans and leases	3,308,968	3,211,532
Allowance for loan and lease losses	(62,149)	(63,314)
Net loans and leases	3,246,819	3,148,218
Premises and equipment, net	48,322	49,161
Accrued interest receivable	14,818	14,898
Investment in unconsolidated subsidiaries	5,627	6,157
Other real estate owned	1,260	1,962
Mortgage servicing rights	16,800	17,797
Core deposit premium	6,686	7,355
Bank-owned life insurance	154,592	153,967
Federal Home Loan Bank stock	10,420	8,606
Other assets	92,140	108,692
Total Assets	5,242,202	5,131,288
Deposits:
Noninterest-bearing demand	1,140,741	1,145,244
Interest-bearing demand	849,880	824,895
Savings and money market	1,465,524	1,399,093
Time	1,040,457	1,064,207
Total deposits	4,496,602	4,433,439
Short-term borrowings	106,000	69,000
Long-term debt	92,785	92,785
Other liabilities	37,438	41,425
Total Liabilities	4,732,825	4,636,649
Equity
Preferred stock (no par value, authorized 1,100,000 shares, issued and outstanding none at March 31, 2016 and December 31, 2015, respectively)	0	0
Common stock (no par value, authorized 185,000,000 shares, issued and outstanding 31,164,287 and 31,361,452 shares at March 31, 2016 and December 31, 2015, respectively)	544,029	548,878
Surplus	83,534	82,847
Accumulated deficit	(130,511)	(137,314)
Accumulated other comprehensive income	12,306	203
Total Shareholders' Equity	509,358	494,614
Non-controlling interest	19	25
Total Equity	509,377	494,639
Total Liabilities and Equity	$ 5,242,202	$ 5,131,288

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Held to maturity, fair value (in dollars)	$ 243,072	$ 244,136
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	31,164,287	31,361,452
Common stock, outstanding shares	31,164,287	31,361,452

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Interest income:
Interest and fees on loans and leases	$ 31,793	$ 28,602
Interest and dividends on investment securities:
Taxable interest	8,396	8,150
Tax-exempt interest	996	998
Dividends	10	9
Interest on deposits in other banks	17	11
Dividends on Federal Home Loan Bank stock	37	11
Total interest income	41,249	37,781
Interest on deposits:
Demand	111	95
Savings and money market	263	223
Time	898	548
Interest on short-term borrowings	50	43
Interest on long-term debt	716	637
Total interest expense	2,038	1,546
Net interest income	39,211	36,235
Provision (credit) for loan and lease losses	(747)	(2,747)
Net interest income after credit for loan and lease losses	39,958	38,982
Other operating income:
Service charges on deposit accounts	1,964	1,968
Loan servicing fees	1,362	1,423
Other service charges and fees	2,767	3,105
Income from fiduciary activities	840	834
Equity in earnings of unconsolidated subsidiaries	90	96
Fees on foreign exchange	148	128
Income from bank-owned life insurance	625	674
Loan placement fees	46	147
Net gain on sales of residential loans	1,466	1,594
Net gain on sales of foreclosed assets	308	33
Other	549	1,188
Total other operating income	10,165	11,190
Other operating expense:
Salaries and employee benefits	16,937	17,165
Net occupancy	3,314	3,501
Equipment	811	909
Amortization of other intangible assets	2,178	2,105
Communication expense	959	824
Legal and professional services	1,613	2,219
Computer software expense	2,704	2,096
Advertising expense	634	635
Foreclosed asset expense	15	72
Other	3,710	4,492
Total other operating expense	32,875	34,018
Income before income taxes	17,248	16,154
Income tax expense	6,067	5,759
Net income	$ 11,181	$ 10,395
Per common share data:
Basic earnings per share (in dollars per share)	$ 0.36	$ 0.30
Diluted earnings per share (in dollars per share)	0.35	0.29
Cash dividends declared (in dollars per share)	$ 0.14	$ 0.12
Shares used in computation:
Basic shares (in shares)	31,263,433	34,827,141
Diluted shares (in shares)	31,506,307	35,478,629

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 11,181	$ 10,395
Other comprehensive income, net of tax:
Net change in unrealized gain on investment securities	11,853	6,909
Minimum pension liability adjustment	250	260
Total other comprehensive income, net of tax	12,103	7,169
Comprehensive income	$ 23,284	$ 17,564

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 Interest
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
Increase (Decrease) in Shareholders' Equity
Net income	10,395				10,395
Other comprehensive income	7,169					7,169
Cash dividends	(4,171)				(4,171)
Net shares of common stock sold by directors' deferred compensation plan	(50)		(50)
Shares of common stock repurchased and other related costs	$ (9,288)		(9,288)
Shares of common stock repurchased and other related costs (in shares)	(473,829)	(473,829)
Share-based compensation	$ 829			829
Share-based compensation (in shares)		37,288
Non-controlling interest	0						0
Balance at Mar. 31, 2015	572,925		632,867	80,545	(150,815)	10,328	0
Balance (in shares) at Mar. 31, 2015		34,797,133
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
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
Increase (Decrease) in Shareholders' Equity
Net income	$ 11,181				11,181
Other comprehensive income	12,103					12,103
Cash dividends	(4,378)				(4,378)
Net shares of common stock sold by directors' deferred compensation plan	(99)		(99)
Shares of common stock repurchased and other related costs	$ (4,750)		(4,750)
Shares of common stock repurchased and other related costs (in shares)	(233,722)	(233,722)
Share-based compensation	$ 687			687			0
Share-based compensation (in shares)		36,557
Non-controlling interest	(6)						(6)
Balance at Mar. 31, 2016	$ 509,377		$ 544,029	$ 83,534	$ (130,511)	$ 12,306	$ 19
Balance (in shares) at Mar. 31, 2016	31,164,287	31,164,287

CONSOLIDATED STATEMENTS OF CHA7

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 0.14	$ 0.12
Common stock (purchased) sold by directors' deferred compensation plan (in net shares)	5,000	12,559
Shares of common stock repurchased	233,722	473,829

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ 11,181	$ 10,395
Adjustments to reconcile net income to net cash provided by operating activities:
Provision (credit) for loan and lease losses	(747)	(2,747)
Depreciation and amortization	1,493	1,479
Write down of other real estate, net of gain on sale	(189)	0
Amortization of other intangible assets	2,178	2,105
Net amortization of investment securities	2,718	1,918
Share-based compensation	687	829
Net gain on sales of residential loans	(1,466)	(1,594)
Proceeds from sales of loans held for sale	83,690	96,788
Originations of loans held for sale	(79,385)	(92,717)
Equity in earnings of unconsolidated subsidiaries	(90)	(96)
Increase in cash surrender value of bank-owned life insurance	(625)	(968)
Deferred income taxes	6,067	5,339
Net change in other assets and liabilities	(1,362)	(5,020)
Net cash provided by operating activities	24,150	15,711
Cash flows from investing activities:
Proceeds from maturities of and calls on investment securities available for sale	36,427	35,942
Purchases of investment securities available for sale	(46,209)	(95,716)
Proceeds from maturities of and calls on investment securities held to maturity	6,146	4,807
Purchases of investment securities held to maturity	0	(22,249)
Net loan originations	(45,838)	(36,803)
Purchases of loan portfolios	(52,016)	0
Proceeds from sale of other real estate	891	968
Purchases of premises and equipment	(654)	(1,033)
Net return of capital from unconsolidated subsidiaries	368	214
Contributions to unconsolidated subsidiaries	(5)	0
Net (purchases) proceeds from redemption of FHLB stock	(1,814)	490
Net cash used in investing activities	(102,704)	(113,380)
Cash flows from financing activities:
Net increase in deposits	63,163	78,342
Net increase in short-term borrowings	37,000	32,000
Cash dividends paid on common stock	(4,378)	(4,171)
Repurchases of common stock and other related costs	(4,750)	(9,288)
Net cash provided by financing activities	91,035	96,883
Net increase (decrease) in cash and cash equivalents	12,481	(786)
Cash and cash equivalents at beginning of period	80,194	86,007
Cash and cash equivalents at end of period	92,675	85,221
Cash paid during the period for:
Interest	1,785	1,599
Income taxes	0	100
Supplemental disclosure of non-cash investing and financing activities:
Net change in common stock held by directors’ deferred compensation plan	99	50
Net reclassification of loans to other real estate	$ 0	$ 1,369

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited consolidated financial statements of Central Pacific Financial Corp. and Subsidiaries (herein referred to as the “Company,” “we,” “us” or “our”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These interim condensed consolidated financial statements and notes should be read in conjunction with the Company’s consolidated financial statements and notes thereto filed on Form 10-K for the fiscal year ended December 31, 2015 . In the opinion of management, all adjustments necessary for a fair presentation have been made and include all normal recurring adjustments. Interim results of operations are not necessarily indicative of results to be expected for the year. 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. 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 March 31, 2016. 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.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS In June 2014, the FASB issued ASU 2014-12, “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period.” ASU 2014-12 requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. As of March 31, 2016 , the Company did not have any share-based payment awards that included performance targets that could be achieved after the requisite service period. As such, the adoption of ASU 2014-12 on January 1, 2016 did not have a material impact on our consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, “Amendments to the Consolidation Analysis.” ASU 2015-02 changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. Specifically, the amendments:1) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities; 2) eliminate the presumption that a general partner should consolidate a limited partnership; 3) affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; 4) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. All legal entities are subject to reevaluation under the revised consolidation model. The adoption of ASU 2015-02 on January 1, 2016 did not have a material impact on our consolidated financial statements.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	INVESTMENT SECURITIES A summary of held-to-maturity and available-for-sale investment securities are as follows: (dollars in thousands) Amortized Gross Gross Estimated March 31, 2016 Held-to-Maturity: Mortgage-backed securities: Residential - U.S. Government-sponsored entities $ 146,497 $ 242 $ (497 ) $ 146,242 Commercial - U.S. Government-sponsored entities 95,100 1,730 — 96,830 Total $ 241,597 $ 1,972 $ (497 ) $ 243,072 Available-for-Sale: Debt securities: States and political subdivisions $ 186,878 $ 5,280 $ (356 ) $ 191,802 Corporate securities 107,315 2,481 — 109,796 Mortgage-backed securities: Residential - U.S. Government-sponsored entities 782,288 10,358 (1,000 ) 791,646 Residential - Non-government agencies 62,274 1,966 — 64,240 Commercial - Non-government agencies 135,392 5,578 — 140,970 Other 653 69 — 722 Total $ 1,274,800 $ 25,732 $ (1,356 ) $ 1,299,176 (dollars in thousands) Amortized Gross Gross Estimated 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 agencies 64,286 733 (987 ) 64,032 Commercial - Non-government agencies 135,439 2,033 (1,118 ) 136,354 Other 848 68 — 916 Total $ 1,267,503 $ 13,615 $ (8,863 ) $ 1,272,255 The amortized cost and estimated fair value of investment securities at March 31, 2016 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. March 31, 2016 (dollars in thousands) Amortized Estimated Fair Held-to-Maturity: Mortgage-backed securities: Residential - U.S. Government-sponsored entities $ 146,497 $ 146,242 Commercial - U.S. Government-sponsored entities 95,100 96,830 Total $ 241,597 $ 243,072 Available-for-Sale: Due in one year or less $ 21,256 $ 21,454 Due after one year through five years 104,442 107,027 Due after five years through ten years 78,885 81,183 Due after ten years 89,610 91,934 Mortgage-backed securities: Residential - U.S. Government-sponsored entities 782,288 791,646 Residential - Non-government agencies 62,274 64,240 Commercial - Non-government agencies 135,392 140,970 Other 653 722 Total $ 1,274,800 $ 1,299,176 We did not sell any available-for-sale securities during the first quarter of 2016 and 2015. Investment securities of $1.0 billion and $1.0 billion at March 31, 2016 and December 31, 2015 , respectively, were pledged to secure public funds on deposit and other long-term debt and short-term borrowings. Provided below is a summary of the 51 and 155 investment securities which were in an unrealized loss position at March 31, 2016 and December 31, 2015 , respectively, segregated by continuous length of impairment. Less Than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2016 Debt securities: States and political subdivisions $ 6,786 $ (88 ) $ 8,640 $ (268 ) $ 15,426 $ (356 ) Mortgage-backed securities: Residential - U.S. Government-sponsored entities 44,973 (120 ) 254,673 (1,377 ) 299,646 (1,497 ) Total temporarily impaired securities $ 51,759 $ (208 ) $ 263,313 $ (1,645 ) $ 315,072 $ (1,853 ) Less Than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized 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 agencies 37,975 (987 ) — — 37,975 (987 ) Commercial - U.S. Government-sponsored entities 94,613 (989 ) — — 94,613 (989 ) Commercial - Non-government agencies 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 ) Other-Than-Temporary Impairment (“OTTI”) Unrealized losses for all investment securities are reviewed to determine whether the losses are deemed “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 declines 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. 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	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
LOANS AND LEASES	LOANS AND LEASES Loans and leases, excluding loans held for sale, consisted of the following: (dollars in thousands) March 31, December 31, Commercial, financial and agricultural $ 534,562 $ 520,457 Real estate: Construction 101,663 85,196 Mortgage - residential 1,456,715 1,433,862 Mortgage - commercial 773,828 761,566 Consumer 439,824 408,024 Leases 936 1,028 3,307,528 3,210,133 Net deferred costs 1,440 1,399 Total loans and leases, net of deferred costs $ 3,308,968 $ 3,211,532 During the three months ended March 31, 2016 , we did not foreclose on any portfolio loans and did not transfer any loans to the held-for-sale category. In addition, we did not sell any portfolio loans. In March 2016, we purchased a direct auto loan portfolio totaling $23.2 million which included a $0.3 million premium over the $22.9 million outstanding balance. At the time of purchase, the auto loans had a weighted average remaining term of 56 months and a weighted average yield of 3.88% . During the first quarter of 2016, we also purchased unsecured consumer loans totaling $29.2 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 38 months and a weighted average yield of 7.55% . During the three months ended March 31, 2015 , we transferred the collateral in three portfolio loans with a carrying value of $1.4 million to other real estate owned. We did not transfer any portfolio loans to the held-for-sale category and no portfolio loans were sold or purchased during the three months ended March 31, 2015 . Impaired Loans The following tables present by class, the balance in the allowance for loan and lease losses and the recorded investment in loans and leases based on the Company’s impairment measurement method as of March 31, 2016 and December 31, 2015 : Real Estate (dollars in thousands) Commercial, Financial & Agricultural Construction Mortgage -Residential Mortgage -Commercial Consumer Leases Total March 31, 2016 Allowance for loan and lease losses: Ending balance attributable to loans: Individually evaluated for impairment $ 500 $ — $ — $ 46 $ — $ — $ 546 Collectively evaluated for impairment 6,500 4,128 18,005 25,127 5,843 — 59,603 7,000 4,128 18,005 25,173 5,843 — 60,149 Unallocated 2,000 Total ending balance $ 7,000 $ 4,128 $ 18,005 $ 25,173 $ 5,843 $ — $ 62,149 Loans and leases: Individually evaluated for impairment $ 2,244 $ 4,001 $ 22,078 $ 10,041 $ — $ — $ 38,364 Collectively evaluated for impairment 532,318 97,662 1,434,637 763,787 439,824 936 3,269,164 534,562 101,663 1,456,715 773,828 439,824 936 3,307,528 Net deferred costs (income) 529 (309 ) 2,487 (792 ) (475 ) — 1,440 Total loans and leases, net of deferred costs (income) $ 535,091 $ 101,354 $ 1,459,202 $ 773,036 $ 439,349 $ 936 $ 3,308,968 Real Estate (dollars in thousands) Commercial, Financial & Agricultural Construction Mortgage -Residential Mortgage -Commercial Consumer Leases Total 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 loans and leases, net of deferred costs (income) $ 521,086 $ 84,885 $ 1,436,305 $ 760,749 $ 407,479 $ 1,028 $ 3,211,532 The following tables present by class, information related to impaired loans as of March 31, 2016 and December 31, 2015 : (dollars in thousands) Unpaid Recorded Allowance March 31, 2016 Impaired loans with no related allowance recorded: Commercial, financial & agricultural $ 1,854 $ 1,744 $ — Real estate: Construction 10,346 4,001 — Mortgage - residential 24,040 22,078 — Mortgage - commercial 9,793 8,935 — Total impaired loans with no related allowance recorded 46,033 36,758 — Impaired loans with an allowance recorded: Commercial, financial & agricultural 500 500 500 Real estate: Mortgage - commercial 1,106 1,106 46 Total impaired loans with an allowance recorded 1,606 1,606 546 Total $ 47,639 $ 38,364 $ 546 (dollars in thousands) Unpaid Recorded Allowance 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 The following table presents by class, the average recorded investment and interest income recognized on impaired loans for the three months ended March 31, 2016 and 2015 : Three Months Ended March 31, 2016 March 31, 2015 (dollars in thousands) Average Interest Average Interest Commercial, financial & agricultural $ 1,423 $ — $ 13,646 $ 5 Real estate: Construction 4,046 36 4,699 86 Mortgage - residential 22,308 (2 ) 28,954 1 Mortgage - commercial 10,140 34 22,751 164 Total $ 37,917 $ 68 $ 70,050 $ 256 Foreclosure Proceedings The Company had $1.1 million of consumer mortgage loans collateralized by residential real estate property that were in the process of foreclosure at March 31, 2016 . 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 tables present by class, the aging of the recorded investment in past due loans and leases as of March 31, 2016 and December 31, 2015 : (dollars in thousands) Accruing Accruing Accruing Nonaccrual Total Loans and Total March 31, 2016 Commercial, financial & agricultural $ 297 $ 356 $ — $ 2,244 $ 2,897 $ 532,194 $ 535,091 Real estate: Construction 95 — — — 95 101,259 101,354 Mortgage - residential 4,554 — 656 5,527 10,737 1,448,465 1,459,202 Mortgage - commercial — — — 6,913 6,913 766,123 773,036 Consumer 960 372 125 — 1,457 437,892 439,349 Leases — — — — — 936 936 Total $ 5,906 $ 728 $ 781 $ 14,684 $ 22,099 $ 3,286,869 $ 3,308,968 (dollars in thousands) Accruing Accruing Accruing Nonaccrual Total Loans and Total 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 Modifications Troubled debt restructurings (“TDRs”) included in nonperforming assets at March 31, 2016 totaled $6.3 million and consisted of 22 Hawaii residential mortgage loans with a combined principal balance of $3.2 million , one Hawaii commercial mortgage loan 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 $20.1 million of TDRs still accruing interest at March 31, 2016 , none of which were more than 90 days delinquent. At December 31, 2015 , there were $20.3 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 for loan and lease losses (the “Allowance”) methodology. Loans that were not on nonaccrual status when 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 for loan and lease losses (the “Provision”) and the Allowance during the three months ended March 31, 2016 . The following table presents by class, information related to loans modified in a TDR during the three months ended March 31, 2015 . No loans were modified in a TDR during the three months ended March 31, 2016. (dollars in thousands) Number Recorded Increase Three Months Ended March 31, 2015 Real estate: Mortgage - commercial 11 $ 910 $ — No loans were modified as a TDR within the previous twelve months that subsequently defaulted during the three months ended March 31, 2016 and 2015 . 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 estimated 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. The following table presents by class and credit indicator, the recorded investment in the Company’s loans and leases as of March 31, 2016 and December 31, 2015 : (dollars in thousands) Pass Special Substandard Loss Subtotal Net Total March 31, 2016 Commercial, financial & agricultural $ 529,448 $ 2,033 $ 3,081 $ — $ 534,562 $ 529 $ 535,091 Real estate: Construction 97,915 2,914 834 — 101,663 (309 ) 101,354 Mortgage - residential 1,450,416 116 6,183 — 1,456,715 2,487 1,459,202 Mortgage - commercial 715,337 40,655 17,836 — 773,828 (792 ) 773,036 Consumer 439,608 — 163 53 439,824 (475 ) 439,349 Leases 936 — — — 936 — 936 Total $ 3,233,660 $ 45,718 $ 28,097 $ 53 $ 3,307,528 $ 1,440 $ 3,308,968 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 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 March 31, 2016 and December 31, 2015 , we did not have any loans that we considered to be subprime.

ALLOWANCE FOR LOAN AND LEASE LO

ALLOWANCE FOR LOAN AND LEASE LOSSES	3 Months Ended
	Mar. 31, 2016
ALLOWANCE FOR LOAN AND LEASE LOSSES
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: Real estate Commercial, Construction Mortgage - Mortgage - Consumer Leases Unallocated Total (Dollars in thousands) Three Months Ended March 31, 2016 Beginning balance $ 6,905 $ 8,454 $ 17,738 $ 21,847 $ 6,230 $ — $ 2,140 $ 63,314 Provision (credit) for loan and lease losses 98 (4,335 ) 230 3,313 87 (140 ) (747 ) 7,003 4,119 17,968 25,160 6,317 — 2,000 62,567 Charge-offs 352 — — — 1,112 — — 1,464 Recoveries 349 9 37 13 638 — — 1,046 Net charge-offs (recoveries) 3 (9 ) (37 ) (13 ) 474 — — 418 Ending balance $ 7,000 $ 4,128 $ 18,005 $ 25,173 $ 5,843 $ — $ 2,000 $ 62,149 Three Months Ended March 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 147 (787 ) (2,344 ) (721 ) 965 (7 ) — (2,747 ) 9,101 14,182 15,583 20,148 8,279 — 4,000 71,293 Charge-offs 878 — 14 — 1,894 — — 2,786 Recoveries 568 123 1,488 13 734 — — 2,926 Net charge-offs (recoveries) 310 (123 ) (1,474 ) (13 ) 1,160 — — (140 ) Ending balance $ 8,791 $ 14,305 $ 17,057 $ 20,161 $ 7,119 $ — $ 4,000 $ 71,433 Loans held for sale and other real estate assets are not included in our assessment of the Allowance. Our Provision was a credit of $0.7 million in the three months ended March 31, 2016 , compared to a credit of $2.7 million in the three months ended March 31, 2015 . 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	3 Months Ended
	Mar. 31, 2016
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 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 values of $2.7 million and $2.7 million at March 31, 2016 and December 31, 2015 , 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 accumulated other comprehensive income (“AOCI”) at March 31, 2016 and December 31, 2015 , respectively.

INVESTMENTS IN UNCONSOLIDATED S

INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES	3 Months Ended
	Mar. 31, 2016
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]
INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES	INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES The components of the Company’s investments in unconsolidated subsidiaries were as follows: (dollars in thousands) March 31, December 31, Investments in low income housing tax credit partnerships $ 2,446 $ 2,699 Trust preferred investments 2,792 2,792 Investments in affiliates 335 612 Other 54 54 Total $ 5,627 $ 6,157 Investments in low income housing tax credit (“LIHTC”) partnerships are accounted for using the cost method. The following table presents amortization and tax credits recognized associated with our investments in LIHTC partnerships for the three months ended March 31, 2016 and March 31, 2015 : (dollars in thousands) Three Months Ended Three Months Ended Cost method: Amortization expense in other operating expenses $ 258 $ 288 Tax credits recognized in income tax expense 337 328

OTHER INTANGIBLE ASSETS

OTHER INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2016
OTHER INTANGIBLE ASSETS
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 three months ended March 31, 2016 : (dollars in thousands) Core Mortgage Total Balance, beginning of period $ 7,355 $ 17,797 $ 25,152 Additions — 512 512 Amortization (669 ) (1,509 ) (2,178 ) Balance, end of period $ 6,686 $ 16,800 $ 23,486 Income generated as the result of new mortgage servicing rights is reported as gains on sales of loans and totaled $0.5 million for the three months ended March 31, 2016 , respectively, compared to $0.6 million for the three months ended March 31, 2015 . Amortization of mortgage servicing rights was $1.5 million for the three months ended March 31, 2016 , compared to $1.4 million for the three months ended March 31, 2015 . The following table presents the fair market value and key assumptions used in determining the fair market value of our mortgage servicing rights: Three Months Ended March 31, (dollars in thousands) 2016 2015 Fair market value, beginning of period $ 18,345 $ 19,975 Fair market value, end of period 17,195 19,172 Weighted average discount rate 9.5 % 9.5 % Forecasted constant prepayment rate assumption 15.3 13.9 The gross carrying value and accumulated amortization related to our intangible assets are presented below: March 31, 2016 December 31, 2015 (dollars in thousands) Gross Accumulated Net Gross Accumulated Net Core deposit premium $ 44,642 $ (37,956 ) $ 6,686 $ 44,642 $ (37,287 ) $ 7,355 Mortgage servicing rights 59,513 (42,713 ) 16,800 59,001 (41,204 ) 17,797 Total $ 104,155 $ (80,669 ) $ 23,486 $ 103,643 $ (78,491 ) $ 25,152 Based on the core deposit premium and mortgage servicing rights held as of March 31, 2016 , estimated amortization expense for the remainder of fiscal year 2016 , the next five succeeding fiscal years and all years thereafter are as follows: Estimated Amortization Expense (dollars in thousands) Core Deposit Premium Mortgage Servicing Rights Total 2016 (remainder) $ 2,006 $ 4,241 $ 6,247 2017 2,674 3,428 6,102 2018 2,006 2,381 4,387 2019 — 1,546 1,546 2020 — 930 930 2021 — 147 147 Thereafter — 4,127 4,127 $ 6,686 $ 16,800 $ 23,486 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 judgment 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 the 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.

DERIVATIVES

DERIVATIVES	3 Months Ended
	Mar. 31, 2016
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. In 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 cash flow 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. At March 31, 2016 , we were not party to any cash flow hedging instruments. 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 locks 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 March 31, 2016 , we were a party to interest rate lock and forward sale commitments on $9.3 million and $9.0 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 sheets: Asset Derivatives Liability Derivatives Fair Value at Fair Value at Derivatives Financial Instruments Not Designated as Hedging Instruments Balance Sheet March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 (dollars in thousands) Interest rate lock commitments Other assets / other liabilities $ 94 $ 68 $ 114 $ 9 The following table presents the impact of derivative instruments and their location within the consolidated statements of income: Derivatives Financial Instruments Location of Gain (Loss) Amount of Gain (Loss) (dollars in thousands) Three Months Ended March 31, 2016 Interest rate lock commitments Other operating income $ (79 ) Three Months Ended March 31, 2015 Interest rate lock commitments Other operating income 466

SHORT-TERM BORROWINGS AND LONG-

SHORT-TERM BORROWINGS AND LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
SHORT-TERM BORROWINGS AND LONG-TERM DEBT	SHORT-TERM BORROWINGS AND LONG-TERM DEBT 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 $1.26 billion line of credit as of March 31, 2016 , of which $1.16 billion was undrawn under this arrangement at March 31, 2016 . Short-term borrowings under this arrangement totaled $106.0 million at March 31, 2016 , compared to $69.0 million at December 31, 2015 . There were no long-term borrowings under this arrangement at March 31, 2016 and December 31, 2015 . FHLB advances outstanding at March 31, 2016 were secured by unencumbered investment securities with a fair value of $0.5 million and certain real estate loans with a carrying value of $1.66 billion in accordance with the collateral provisions of the Advances, Security and Deposit Agreement with the FHLB. At March 31, 2016 and December 31, 2015 , our bank had additional unused borrowings available at the Federal Reserve discount window of $35.1 million and $40.8 million , respectively. As of March 31, 2016 and December 31, 2015 , certain commercial and commercial real estate loans with a carrying value totaling $68.8 million and $87.3 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.

EQUITY

EQUITY	3 Months Ended
	Mar. 31, 2016
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 be limited if we experience an “ownership change” for U.S. federal income tax purposes. In general, an “ownership change” will occur if there is a cumulative increase in the Company’s ownership by “5-percent shareholders” (as defined under U.S. income tax laws) that exceeds 50 percentage points over a rolling three-year period. On November 23, 2010, our Board of Directors 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”). 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 two 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 of Directors 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 March 31, 2016 , the bank had Statutory Retained Earnings of $65.6 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 March 26, 2015, the Company, Carlyle Financial Services Harbor, L.P. ("Carlyle") and ACMO-CPF, L.L.C. ("Anchorage" and together with Carlyle, 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 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 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 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 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. In January 2016, the 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. In the three months ended March 31, 2016 , 233,722 shares of common stock, at a cost of $4.7 million , were repurchased under the 2016 Repurchase Plan.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION Restricted Stock Awards and Units The table below presents the activity of restricted stock awards and units for the three months ended March 31, 2016 : Shares Weighted Non-vested restricted stock awards and units, beginning of period 463,917 $ 17.41 Changes during the period: Granted 63,436 20.31 Vested (53,431 ) 17.97 Forfeited — — Non-vested restricted stock awards and units, end of period 473,922 17.74

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables present the components of other comprehensive income for the three months ended March 31, 2016 and 2015 , by component: (dollars in thousands) Before Tax Tax Effect Net of Tax Three Months Ended March 31, 2016 Net unrealized gains on investment securities: Net unrealized gains arising during the period $ 19,683 $ 7,830 $ 11,853 Less: Reclassification adjustment for gains realized in net income — — — Net unrealized gains on investment securities 19,683 7,830 11,853 Defined benefit plans: Amortization of net actuarial losses 367 124 243 Amortization of net transition obligation 4 1 3 Amortization of prior service cost 5 1 4 Defined benefit plans, net 376 126 250 Other comprehensive income $ 20,059 $ 7,956 $ 12,103 (dollars in thousands) Before Tax Tax Effect Net of Tax Three Months Ended March 31, 2015 Net unrealized gains on investment securities: Net unrealized gains arising during the period $ 11,476 $ 4,567 $ 6,909 Less: Reclassification adjustment for gains realized in net income — — — Net unrealized gains on investment securities 11,476 4,567 6,909 Defined benefit plans: Amortization of net actuarial losses 420 165 255 Amortization of net transition obligation 4 2 2 Amortization of prior service cost 5 2 3 Defined benefit plans, net 429 169 260 Other comprehensive income $ 11,905 $ 4,736 $ 7,169 The following tables present the changes in each component of AOCI, net of tax, for the three months ended March 31, 2016 and 2015 : (dollars in thousands) Investment Defined Accumulated Three Months Ended March 31, 2016 Balance at beginning of period $ 9,181 $ (8,978 ) $ 203 Other comprehensive income before reclassifications 11,853 — 11,853 Amounts reclassified from AOCI — 250 250 Total other comprehensive income 11,853 250 12,103 Balance at end of period $ 21,034 $ (8,728 ) $ 12,306 (dollars in thousands) Investment Defined Accumulated Three Months Ended March 31, 2015 Balance at beginning of period $ 13,586 $ (10,427 ) $ 3,159 Other comprehensive income before reclassifications 6,909 — 6,909 Amounts reclassified from AOCI — 260 260 Total other comprehensive income 6,909 260 7,169 Balance at end of period $ 20,495 $ (10,167 ) $ 10,328 The following table presents the amounts reclassified out of each component of AOCI for the three months ended March 31, 2016 and 2015 : Amount Reclassified from AOCI Affected Line Item in the Statement Where Net Income is Presented Details about AOCI Components Three months ended March 31, (dollars in thousands) 2016 2015 Amortization of defined benefit plan items Net actuarial losses $ (367 ) $ (420 ) (1) Net transition obligation (4 ) (4 ) (1) Prior service cost (5 ) (5 ) (1) (376 ) (429 ) Total before tax 126 169 Tax benefit Total reclassifications for the period $ (250 ) $ (260 ) Net of tax (1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 14 for additional details).

PENSION AND SUPPLEMENTAL EXECUT

PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS	3 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS	PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS Central Pacific Bank has a defined benefit retirement plan (the “Pension Plan”) which covers certain eligible employees. The plan was curtailed effective December 31, 2002, and accordingly, plan benefits were fixed as of that date. The following table sets forth the components of net periodic benefit cost for the Pension Plan: Three Months Ended (dollars in thousands) 2016 2015 Interest cost $ 343 $ 348 Expected return on plan assets (439 ) (472 ) Amortization of net actuarial losses 354 393 Net periodic cost $ 258 $ 269 Our bank also established Supplemental Executive Retirement Plans (“SERPs”), which provide certain (current and former) officers of our bank with supplemental retirement benefits. We have not entered into a SERP since December 31, 2008. The following table sets forth the components of net periodic benefit cost for the SERPs: Three Months Ended (dollars in thousands) 2016 2015 Interest cost $ 116 $ 110 Amortization of net actuarial losses 13 4 Amortization of net transition obligation 4 5 Amortization of prior service cost 5 27 Net periodic cost $ 138 $ 146

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table presents the information used to compute basic and diluted earnings per common share for the periods indicated: Three Months Ended (dollars in thousands, except per share data) 2016 2015 Net income $ 11,181 $ 10,395 Weighted average shares outstanding - basic 31,263,433 34,827,141 Dilutive effect of employee stock options and awards 242,874 651,488 Weighted average shares outstanding - diluted 31,506,307 35,478,629 Basic earnings per share $ 0.36 $ 0.30 Diluted earnings per share $ 0.35 $ 0.29 A total of 28,135 potentially dilutive securities have been excluded from the dilutive share calculation for the three months ended March 31, 2016 , as their effect was anti-dilutive, compared to 13,472 for the three months ended March 31, 2015 .

FAIR VALUE OF FINANCIAL ASSETS

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES	FAIR VALUE OF FINANCIAL 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, short-term borrowings, and accrued interest payable. Investment Securities The fair value of investment securities is based on market price quotations received from third-party pricing services. The third-party pricing services utilize pricing models supported with timely market data information. 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 market 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 (dollars in thousands) Carrying Estimated Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant March 31, 2016 Financial assets Cash and due from banks $ 85,495 $ 85,495 $ 85,495 $ — $ — Interest-bearing deposits in other banks 7,180 7,180 7,180 — — Investment securities 1,540,773 1,542,248 722 1,528,871 12,655 Loans held for sale 11,270 11,270 — — 11,270 Net loans and leases 3,246,819 3,227,982 — 38,364 3,189,618 Accrued interest receivable 14,818 14,818 14,818 — — Financial liabilities Deposits: Noninterest-bearing deposits 1,140,741 1,140,741 1,140,741 — — Interest-bearing demand and savings deposits 2,315,404 2,315,404 2,315,404 — — Time deposits 1,040,457 1,042,639 — — 1,042,639 Short-term borrowings 106,000 106,000 — 106,000 — Long-term debt 92,785 66,215 — 66,215 — Accrued interest payable (included in other liabilities) 1,325 1,325 1,325 — — Off-balance sheet financial instruments Commitments to extend credit 796,168 984 — 984 — Standby letters of credit and financial guarantees written 15,356 230 — 230 — Derivatives: Interest rate lock commitments 9,333 87 — 87 — Forward sale commitments 9,009 (107 ) — (107 ) — Fair Value Measurement Using (dollars in thousands) Carrying Estimated Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant 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 borrowings 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 — Derivatives: Interest rate lock commitments 24,009 43 — 43 — Forward sale commitments 9,973 15 — 15 — 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 three months ended March 31, 2016 . The following tables present the balances of assets and liabilities measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015 : Fair Value at Reporting Date Using (dollars in thousands) Fair Value Quoted Significant Significant March 31, 2016 Available for sale securities: Debt securities: States and political subdivisions $ 191,802 $ — $ 179,147 $ 12,655 Corporate securities 109,796 — 109,796 — Mortgage-backed securities: Residential - U.S. Government sponsored entities 791,646 — 791,646 — Residential - Non-government agencies 64,240 — 64,240 — Commercial - Non-government agencies 140,970 — 140,970 — Other 722 722 — — Total available for sale securities 1,299,176 722 1,285,799 12,655 Derivatives - Interest rate lock and forward sale commitments (20 ) — (20 ) — Total $ 1,299,156 $ 722 $ 1,285,779 $ 12,655 Fair Value at Reporting Date Using (dollars in thousands) Fair Value Quoted Significant Significant 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: Residential - U.S. Government sponsored entities 771,909 — 771,909 — Residential - Non-government agencies 64,032 — 64,032 — Commercial - Non-government agencies 136,354 — 136,354 — Other 916 916 — — Total available for sale securities 1,272,255 916 1,258,860 12,479 Derivatives - Interest rate lock and forward sale commitments 59 — 59 — Total $ 1,272,314 $ 916 $ 1,258,919 $ 12,479 For the three months ended March 31, 2016 and 2015 , the changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: (dollars in thousands) Available for Sale Balance at December 31, 2015 $ 12,479 Principal payments received (83 ) Unrealized net gain included in other comprehensive income 259 Balance at March 31, 2016 $ 12,655 Balance at December 31, 2014 $ 13,095 Principal payments received (735 ) Unrealized net gain included in other comprehensive income 287 Balance at March 31, 2015 $ 12,647 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 $12.7 million and $12.6 million at March 31, 2016 and March 31, 2015 , 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 March 31, 2016 , the weighted average discount rate utilized was 3.73% , 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 at March 31, 2016 and December 31, 2015 , the following table provides the level of valuation assumptions used to determine the respective fair values: Fair Value Measurements Using (dollars in thousands) Fair Value Quoted Prices Significant Significant March 31, 2016 Impaired loans (1) $ 37,818 $ — $ 37,818 $ — Other real estate (2) 1,260 — 1,260 — December 31, 2015 Impaired loans (1) $ 38,153 $ — $ 38,153 $ — Other real estate (2) 1,962 — 1,962 — (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	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION We have the following three reportable segments: Banking Operations, Treasury and All Others. These 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, indirect auto 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 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 the Company’s accounting policies that are described in Note 1 to the consolidated financial statements in the Annual Report on Form 10-K for the year ended December 31, 2015 filed with the SEC. 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 profits and assets are provided in the following table for the periods indicated. (dollars in thousands) Banking Treasury All Others Total Three Months Ended March 31, 2016 Net interest income $ 30,951 $ 8,260 $ — $ 39,211 Inter-segment net interest income (expense) 10,558 (7,017 ) (3,541 ) — Credit for loan and lease losses 747 — — 747 Other operating income 5,534 745 3,886 10,165 Other operating expense (14,743 ) (388 ) (17,744 ) (32,875 ) Administrative and overhead expense allocation (11,432 ) (196 ) 11,628 — Income before taxes 21,615 1,404 (5,771 ) 17,248 Income tax (expense) benefit (7,603 ) (494 ) 2,030 (6,067 ) Net income (loss) $ 14,012 $ 910 $ (3,741 ) $ 11,181 (dollars in thousands) Banking Treasury All Others Total Three Months Ended March 31, 2015 Net interest income $ 27,854 $ 8,381 $ — $ 36,235 Inter-segment net interest income (expense) 10,302 (8,698 ) (1,604 ) — Credit for loan and lease losses 2,747 — — 2,747 Other operating income 6,446 1,027 3,717 11,190 Other operating expense (14,824 ) (478 ) (18,716 ) (34,018 ) Administrative and overhead expense allocation (12,104 ) (288 ) 12,392 — Income before taxes 20,421 (56 ) (4,211 ) 16,154 Income tax expense (7,148 ) 20 1,369 (5,759 ) Net income (loss) $ 13,273 $ (36 ) $ (2,842 ) $ 10,395 (dollars in thousands) Banking Treasury All Others Total At March 31, 2016: Investment securities $ — $ 1,540,773 $ — $ 1,540,773 Loans and leases (including loans held for sale) 3,320,238 — — 3,320,238 Other 58,949 235,798 86,444 381,191 Total assets $ 3,379,187 $ 1,776,571 $ 86,444 $ 5,242,202 (dollars in thousands) Banking Treasury All Others Total 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

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
LEGAL PROCEEDINGS	LEGAL PROCEEDINGS We are involved in legal actions arising in the ordinary course of business. Management, after consultation with our legal counsel, believes the ultimate disposition of those matters will not have a material adverse effect on our consolidated financial statements.

RECENT ACCOUNTING PRONOUNCEME27

RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	3 Months Ended
	Mar. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	In June 2014, the FASB issued ASU 2014-12, “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period.” ASU 2014-12 requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. As of March 31, 2016 , the Company did not have any share-based payment awards that included performance targets that could be achieved after the requisite service period. As such, the adoption of ASU 2014-12 on January 1, 2016 did not have a material impact on our consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, “Amendments to the Consolidation Analysis.” ASU 2015-02 changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. Specifically, the amendments:1) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities; 2) eliminate the presumption that a general partner should consolidate a limited partnership; 3) affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; 4) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. All legal entities are subject to reevaluation under the revised consolidation model. The adoption of ASU 2015-02 on January 1, 2016 did not have a material impact on our consolidated financial statements.

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Summary of available for sale and held to maturity investment securities	A summary of held-to-maturity and available-for-sale investment securities are as follows: (dollars in thousands) Amortized Gross Gross Estimated March 31, 2016 Held-to-Maturity: Mortgage-backed securities: Residential - U.S. Government-sponsored entities $ 146,497 $ 242 $ (497 ) $ 146,242 Commercial - U.S. Government-sponsored entities 95,100 1,730 — 96,830 Total $ 241,597 $ 1,972 $ (497 ) $ 243,072 Available-for-Sale: Debt securities: States and political subdivisions $ 186,878 $ 5,280 $ (356 ) $ 191,802 Corporate securities 107,315 2,481 — 109,796 Mortgage-backed securities: Residential - U.S. Government-sponsored entities 782,288 10,358 (1,000 ) 791,646 Residential - Non-government agencies 62,274 1,966 — 64,240 Commercial - Non-government agencies 135,392 5,578 — 140,970 Other 653 69 — 722 Total $ 1,274,800 $ 25,732 $ (1,356 ) $ 1,299,176 (dollars in thousands) Amortized Gross Gross Estimated 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 agencies 64,286 733 (987 ) 64,032 Commercial - Non-government agencies 135,439 2,033 (1,118 ) 136,354 Other 848 68 — 916 Total $ 1,267,503 $ 13,615 $ (8,863 ) $ 1,272,255
Schedule of amortized cost and estimated fair value of investment securities by contractual maturity	The amortized cost and estimated fair value of investment securities at March 31, 2016 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. March 31, 2016 (dollars in thousands) Amortized Estimated Fair Held-to-Maturity: Mortgage-backed securities: Residential - U.S. Government-sponsored entities $ 146,497 $ 146,242 Commercial - U.S. Government-sponsored entities 95,100 96,830 Total $ 241,597 $ 243,072 Available-for-Sale: Due in one year or less $ 21,256 $ 21,454 Due after one year through five years 104,442 107,027 Due after five years through ten years 78,885 81,183 Due after ten years 89,610 91,934 Mortgage-backed securities: Residential - U.S. Government-sponsored entities 782,288 791,646 Residential - Non-government agencies 62,274 64,240 Commercial - Non-government agencies 135,392 140,970 Other 653 722 Total $ 1,274,800 $ 1,299,176
Schedule of investment securities in an unrealized loss position	Provided below is a summary of the 51 and 155 investment securities which were in an unrealized loss position at March 31, 2016 and December 31, 2015 , respectively, segregated by continuous length of impairment. Less Than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2016 Debt securities: States and political subdivisions $ 6,786 $ (88 ) $ 8,640 $ (268 ) $ 15,426 $ (356 ) Mortgage-backed securities: Residential - U.S. Government-sponsored entities 44,973 (120 ) 254,673 (1,377 ) 299,646 (1,497 ) Total temporarily impaired securities $ 51,759 $ (208 ) $ 263,313 $ (1,645 ) $ 315,072 $ (1,853 ) Less Than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized 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 agencies 37,975 (987 ) — — 37,975 (987 ) Commercial - U.S. Government-sponsored entities 94,613 (989 ) — — 94,613 (989 ) Commercial - Non-government agencies 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 )

LOANS AND LEASES (Tables)

LOANS AND LEASES (Tables)	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Schedule of loans and leases, excluding loans held for sale	Loans and leases, excluding loans held for sale, consisted of the following: (dollars in thousands) March 31, December 31, Commercial, financial and agricultural $ 534,562 $ 520,457 Real estate: Construction 101,663 85,196 Mortgage - residential 1,456,715 1,433,862 Mortgage - commercial 773,828 761,566 Consumer 439,824 408,024 Leases 936 1,028 3,307,528 3,210,133 Net deferred costs 1,440 1,399 Total loans and leases, net of deferred costs $ 3,308,968 $ 3,211,532
Schedule of balance in the allowance for loan and lease losses and the recorded investment in loans and leases based on the impairment measurement methods, by class	The following tables present by class, the balance in the allowance for loan and lease losses and the recorded investment in loans and leases based on the Company’s impairment measurement method as of March 31, 2016 and December 31, 2015 : Real Estate (dollars in thousands) Commercial, Financial & Agricultural Construction Mortgage -Residential Mortgage -Commercial Consumer Leases Total March 31, 2016 Allowance for loan and lease losses: Ending balance attributable to loans: Individually evaluated for impairment $ 500 $ — $ — $ 46 $ — $ — $ 546 Collectively evaluated for impairment 6,500 4,128 18,005 25,127 5,843 — 59,603 7,000 4,128 18,005 25,173 5,843 — 60,149 Unallocated 2,000 Total ending balance $ 7,000 $ 4,128 $ 18,005 $ 25,173 $ 5,843 $ — $ 62,149 Loans and leases: Individually evaluated for impairment $ 2,244 $ 4,001 $ 22,078 $ 10,041 $ — $ — $ 38,364 Collectively evaluated for impairment 532,318 97,662 1,434,637 763,787 439,824 936 3,269,164 534,562 101,663 1,456,715 773,828 439,824 936 3,307,528 Net deferred costs (income) 529 (309 ) 2,487 (792 ) (475 ) — 1,440 Total loans and leases, net of deferred costs (income) $ 535,091 $ 101,354 $ 1,459,202 $ 773,036 $ 439,349 $ 936 $ 3,308,968 Real Estate (dollars in thousands) Commercial, Financial & Agricultural Construction Mortgage -Residential Mortgage -Commercial Consumer Leases Total 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 loans and leases, net of deferred costs (income) $ 521,086 $ 84,885 $ 1,436,305 $ 760,749 $ 407,479 $ 1,028 $ 3,211,532
Schedule of impaired loans, by class	The following tables present by class, information related to impaired loans as of March 31, 2016 and December 31, 2015 : (dollars in thousands) Unpaid Recorded Allowance March 31, 2016 Impaired loans with no related allowance recorded: Commercial, financial & agricultural $ 1,854 $ 1,744 $ — Real estate: Construction 10,346 4,001 — Mortgage - residential 24,040 22,078 — Mortgage - commercial 9,793 8,935 — Total impaired loans with no related allowance recorded 46,033 36,758 — Impaired loans with an allowance recorded: Commercial, financial & agricultural 500 500 500 Real estate: Mortgage - commercial 1,106 1,106 46 Total impaired loans with an allowance recorded 1,606 1,606 546 Total $ 47,639 $ 38,364 $ 546 (dollars in thousands) Unpaid Recorded Allowance 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
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 for the three months ended March 31, 2016 and 2015 : Three Months Ended March 31, 2016 March 31, 2015 (dollars in thousands) Average Interest Average Interest Commercial, financial & agricultural $ 1,423 $ — $ 13,646 $ 5 Real estate: Construction 4,046 36 4,699 86 Mortgage - residential 22,308 (2 ) 28,954 1 Mortgage - commercial 10,140 34 22,751 164 Total $ 37,917 $ 68 $ 70,050 $ 256
Schedule of aging of the recorded investment in past due loans and leases, by class	The following tables present by class, the aging of the recorded investment in past due loans and leases as of March 31, 2016 and December 31, 2015 : (dollars in thousands) Accruing Accruing Accruing Nonaccrual Total Loans and Total March 31, 2016 Commercial, financial & agricultural $ 297 $ 356 $ — $ 2,244 $ 2,897 $ 532,194 $ 535,091 Real estate: Construction 95 — — — 95 101,259 101,354 Mortgage - residential 4,554 — 656 5,527 10,737 1,448,465 1,459,202 Mortgage - commercial — — — 6,913 6,913 766,123 773,036 Consumer 960 372 125 — 1,457 437,892 439,349 Leases — — — — — 936 936 Total $ 5,906 $ 728 $ 781 $ 14,684 $ 22,099 $ 3,286,869 $ 3,308,968 (dollars in thousands) Accruing Accruing Accruing Nonaccrual Total Loans and Total 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
Schedule of information related to loans modified in a TDR, by class	The following table presents by class, information related to loans modified in a TDR during the three months ended March 31, 2015 . No loans were modified in a TDR during the three months ended March 31, 2016. (dollars in thousands) Number Recorded Increase Three Months Ended March 31, 2015 Real estate: Mortgage - commercial 11 $ 910 $ —
Schedule of recorded investment in 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 March 31, 2016 and December 31, 2015 : (dollars in thousands) Pass Special Substandard Loss Subtotal Net Total March 31, 2016 Commercial, financial & agricultural $ 529,448 $ 2,033 $ 3,081 $ — $ 534,562 $ 529 $ 535,091 Real estate: Construction 97,915 2,914 834 — 101,663 (309 ) 101,354 Mortgage - residential 1,450,416 116 6,183 — 1,456,715 2,487 1,459,202 Mortgage - commercial 715,337 40,655 17,836 — 773,828 (792 ) 773,036 Consumer 439,608 — 163 53 439,824 (475 ) 439,349 Leases 936 — — — 936 — 936 Total $ 3,233,660 $ 45,718 $ 28,097 $ 53 $ 3,307,528 $ 1,440 $ 3,308,968 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

ALLOWANCE FOR LOAN AND LEASE 30

ALLOWANCE FOR LOAN AND LEASE LOSSES (Tables)	3 Months Ended
	Mar. 31, 2016
ALLOWANCE FOR LOAN AND LEASE LOSSES
Schedule of activity in the allowance, by class	The following table presents by class, the activity in the Allowance for the periods indicated: Real estate Commercial, Construction Mortgage - Mortgage - Consumer Leases Unallocated Total (Dollars in thousands) Three Months Ended March 31, 2016 Beginning balance $ 6,905 $ 8,454 $ 17,738 $ 21,847 $ 6,230 $ — $ 2,140 $ 63,314 Provision (credit) for loan and lease losses 98 (4,335 ) 230 3,313 87 (140 ) (747 ) 7,003 4,119 17,968 25,160 6,317 — 2,000 62,567 Charge-offs 352 — — — 1,112 — — 1,464 Recoveries 349 9 37 13 638 — — 1,046 Net charge-offs (recoveries) 3 (9 ) (37 ) (13 ) 474 — — 418 Ending balance $ 7,000 $ 4,128 $ 18,005 $ 25,173 $ 5,843 $ — $ 2,000 $ 62,149 Three Months Ended March 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 147 (787 ) (2,344 ) (721 ) 965 (7 ) — (2,747 ) 9,101 14,182 15,583 20,148 8,279 — 4,000 71,293 Charge-offs 878 — 14 — 1,894 — — 2,786 Recoveries 568 123 1,488 13 734 — — 2,926 Net charge-offs (recoveries) 310 (123 ) (1,474 ) (13 ) 1,160 — — (140 ) Ending balance $ 8,791 $ 14,305 $ 17,057 $ 20,161 $ 7,119 $ — $ 4,000 $ 71,433

INVESTMENTS IN UNCONSOLIDATED31

INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES (Tables)	3 Months Ended
	Mar. 31, 2016
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]
Schedule of investment in unconsolidated subsidiaries	The following table presents amortization and tax credits recognized associated with our investments in LIHTC partnerships for the three months ended March 31, 2016 and March 31, 2015 : (dollars in thousands) Three Months Ended Three Months Ended Cost method: Amortization expense in other operating expenses $ 258 $ 288 Tax credits recognized in income tax expense 337 328 The components of the Company’s investments in unconsolidated subsidiaries were as follows: (dollars in thousands) March 31, December 31, Investments in low income housing tax credit partnerships $ 2,446 $ 2,699 Trust preferred investments 2,792 2,792 Investments in affiliates 335 612 Other 54 54 Total $ 5,627 $ 6,157

OTHER INTANGIBLE ASSETS (Tables

OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2016
OTHER INTANGIBLE ASSETS
Schedule of gross carrying value and accumulated amortization related to intangible assets	The following table presents changes in other intangible assets for the three months ended March 31, 2016 : (dollars in thousands) Core Mortgage Total Balance, beginning of period $ 7,355 $ 17,797 $ 25,152 Additions — 512 512 Amortization (669 ) (1,509 ) (2,178 ) Balance, end of period $ 6,686 $ 16,800 $ 23,486 The gross carrying value and accumulated amortization related to our intangible assets are presented below: March 31, 2016 December 31, 2015 (dollars in thousands) Gross Accumulated Net Gross Accumulated Net Core deposit premium $ 44,642 $ (37,956 ) $ 6,686 $ 44,642 $ (37,287 ) $ 7,355 Mortgage servicing rights 59,513 (42,713 ) 16,800 59,001 (41,204 ) 17,797 Total $ 104,155 $ (80,669 ) $ 23,486 $ 103,643 $ (78,491 ) $ 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: Three Months Ended March 31, (dollars in thousands) 2016 2015 Fair market value, beginning of period $ 18,345 $ 19,975 Fair market value, end of period 17,195 19,172 Weighted average discount rate 9.5 % 9.5 % Forecasted constant prepayment rate assumption 15.3 13.9
Schedule of estimated amortization expense	Based on the core deposit premium and mortgage servicing rights held as of March 31, 2016 , estimated amortization expense for the remainder of fiscal year 2016 , the next five succeeding fiscal years and all years thereafter are as follows: Estimated Amortization Expense (dollars in thousands) Core Deposit Premium Mortgage Servicing Rights Total 2016 (remainder) $ 2,006 $ 4,241 $ 6,247 2017 2,674 3,428 6,102 2018 2,006 2,381 4,387 2019 — 1,546 1,546 2020 — 930 930 2021 — 147 147 Thereafter — 4,127 4,127 $ 6,686 $ 16,800 $ 23,486

DERIVATIVES (Tables)

DERIVATIVES (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of the location of all assets and liabilities associated with derivative instruments within the consolidated balance sheets	The following table presents the location of all assets and liabilities associated with our derivative instruments within the consolidated balance sheets: Asset Derivatives Liability Derivatives Fair Value at Fair Value at Derivatives Financial Instruments Not Designated as Hedging Instruments Balance Sheet March 31, 2016 December 31, 2015 March 31, 2016 December 31, 2015 (dollars in thousands) Interest rate lock commitments Other assets / other liabilities $ 94 $ 68 $ 114 $ 9
Schedule of the impact of derivative instruments and their location within the consolidated statements of income	The following table presents the impact of derivative instruments and their location within the consolidated statements of income: Derivatives Financial Instruments Location of Gain (Loss) Amount of Gain (Loss) (dollars in thousands) Three Months Ended March 31, 2016 Interest rate lock commitments Other operating income $ (79 ) Three Months Ended March 31, 2015 Interest rate lock commitments Other operating income 466

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of activity of restricted stock awards and units	The table below presents the activity of restricted stock awards and units for the three months ended March 31, 2016 : Shares Weighted Non-vested restricted stock awards and units, beginning of period 463,917 $ 17.41 Changes during the period: Granted 63,436 20.31 Vested (53,431 ) 17.97 Forfeited — — Non-vested restricted stock awards and units, end of period 473,922 17.74

ACCUMULATED OTHER COMPREHENSI35

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of components of other comprehensive income (loss)	The following tables present the components of other comprehensive income for the three months ended March 31, 2016 and 2015 , by component: (dollars in thousands) Before Tax Tax Effect Net of Tax Three Months Ended March 31, 2016 Net unrealized gains on investment securities: Net unrealized gains arising during the period $ 19,683 $ 7,830 $ 11,853 Less: Reclassification adjustment for gains realized in net income — — — Net unrealized gains on investment securities 19,683 7,830 11,853 Defined benefit plans: Amortization of net actuarial losses 367 124 243 Amortization of net transition obligation 4 1 3 Amortization of prior service cost 5 1 4 Defined benefit plans, net 376 126 250 Other comprehensive income $ 20,059 $ 7,956 $ 12,103 (dollars in thousands) Before Tax Tax Effect Net of Tax Three Months Ended March 31, 2015 Net unrealized gains on investment securities: Net unrealized gains arising during the period $ 11,476 $ 4,567 $ 6,909 Less: Reclassification adjustment for gains realized in net income — — — Net unrealized gains on investment securities 11,476 4,567 6,909 Defined benefit plans: Amortization of net actuarial losses 420 165 255 Amortization of net transition obligation 4 2 2 Amortization of prior service cost 5 2 3 Defined benefit plans, net 429 169 260 Other comprehensive income $ 11,905 $ 4,736 $ 7,169
Schedule of changes in each component of AOCI, net of tax	The following tables present the changes in each component of AOCI, net of tax, for the three months ended March 31, 2016 and 2015 : (dollars in thousands) Investment Defined Accumulated Three Months Ended March 31, 2016 Balance at beginning of period $ 9,181 $ (8,978 ) $ 203 Other comprehensive income before reclassifications 11,853 — 11,853 Amounts reclassified from AOCI — 250 250 Total other comprehensive income 11,853 250 12,103 Balance at end of period $ 21,034 $ (8,728 ) $ 12,306 (dollars in thousands) Investment Defined Accumulated Three Months Ended March 31, 2015 Balance at beginning of period $ 13,586 $ (10,427 ) $ 3,159 Other comprehensive income before reclassifications 6,909 — 6,909 Amounts reclassified from AOCI — 260 260 Total other comprehensive income 6,909 260 7,169 Balance at end of period $ 20,495 $ (10,167 ) $ 10,328
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 three months ended March 31, 2016 and 2015 : Amount Reclassified from AOCI Affected Line Item in the Statement Where Net Income is Presented Details about AOCI Components Three months ended March 31, (dollars in thousands) 2016 2015 Amortization of defined benefit plan items Net actuarial losses $ (367 ) $ (420 ) (1) Net transition obligation (4 ) (4 ) (1) Prior service cost (5 ) (5 ) (1) (376 ) (429 ) Total before tax 126 169 Tax benefit Total reclassifications for the period $ (250 ) $ (260 ) Net of tax (1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 14 for additional details).

PENSION AND SUPPLEMENTAL EXEC36

PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS (Tables)	3 Months Ended
	Mar. 31, 2016
Pension Plan
PENSION PLANS
Schedule of components of net periodic benefit cost	The following table sets forth the components of net periodic benefit cost for the Pension Plan: Three Months Ended (dollars in thousands) 2016 2015 Interest cost $ 343 $ 348 Expected return on plan assets (439 ) (472 ) Amortization of net actuarial losses 354 393 Net periodic cost $ 258 $ 269
SERPs
PENSION PLANS
Schedule of components of net periodic benefit cost	The following table sets forth the components of net periodic benefit cost for the SERPs: Three Months Ended (dollars in thousands) 2016 2015 Interest cost $ 116 $ 110 Amortization of net actuarial losses 13 4 Amortization of net transition obligation 4 5 Amortization of prior service cost 5 27 Net periodic cost $ 138 $ 146

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of information used to compute basic and diluted earnings per share	The following table presents the information used to compute basic and diluted earnings per common share for the periods indicated: Three Months Ended (dollars in thousands, except per share data) 2016 2015 Net income $ 11,181 $ 10,395 Weighted average shares outstanding - basic 31,263,433 34,827,141 Dilutive effect of employee stock options and awards 242,874 651,488 Weighted average shares outstanding - diluted 31,506,307 35,478,629 Basic earnings per share $ 0.36 $ 0.30 Diluted earnings per share $ 0.35 $ 0.29

FAIR VALUE OF FINANCIAL ASSET38

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of carrying amount and estimated fair value of financial instruments	Fair Value Measurement Using (dollars in thousands) Carrying Estimated Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant March 31, 2016 Financial assets Cash and due from banks $ 85,495 $ 85,495 $ 85,495 $ — $ — Interest-bearing deposits in other banks 7,180 7,180 7,180 — — Investment securities 1,540,773 1,542,248 722 1,528,871 12,655 Loans held for sale 11,270 11,270 — — 11,270 Net loans and leases 3,246,819 3,227,982 — 38,364 3,189,618 Accrued interest receivable 14,818 14,818 14,818 — — Financial liabilities Deposits: Noninterest-bearing deposits 1,140,741 1,140,741 1,140,741 — — Interest-bearing demand and savings deposits 2,315,404 2,315,404 2,315,404 — — Time deposits 1,040,457 1,042,639 — — 1,042,639 Short-term borrowings 106,000 106,000 — 106,000 — Long-term debt 92,785 66,215 — 66,215 — Accrued interest payable (included in other liabilities) 1,325 1,325 1,325 — — Off-balance sheet financial instruments Commitments to extend credit 796,168 984 — 984 — Standby letters of credit and financial guarantees written 15,356 230 — 230 — Derivatives: Interest rate lock commitments 9,333 87 — 87 — Forward sale commitments 9,009 (107 ) — (107 ) — Fair Value Measurement Using (dollars in thousands) Carrying Estimated Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant 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 borrowings 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 — Derivatives: Interest rate lock commitments 24,009 43 — 43 — Forward sale commitments 9,973 15 — 15 —
Schedule of balances of assets and liabilities measured at fair value on a recurring basis	The following tables present the balances of assets and liabilities measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015 : Fair Value at Reporting Date Using (dollars in thousands) Fair Value Quoted Significant Significant March 31, 2016 Available for sale securities: Debt securities: States and political subdivisions $ 191,802 $ — $ 179,147 $ 12,655 Corporate securities 109,796 — 109,796 — Mortgage-backed securities: Residential - U.S. Government sponsored entities 791,646 — 791,646 — Residential - Non-government agencies 64,240 — 64,240 — Commercial - Non-government agencies 140,970 — 140,970 — Other 722 722 — — Total available for sale securities 1,299,176 722 1,285,799 12,655 Derivatives - Interest rate lock and forward sale commitments (20 ) — (20 ) — Total $ 1,299,156 $ 722 $ 1,285,779 $ 12,655 Fair Value at Reporting Date Using (dollars in thousands) Fair Value Quoted Significant Significant 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: Residential - U.S. Government sponsored entities 771,909 — 771,909 — Residential - Non-government agencies 64,032 — 64,032 — Commercial - Non-government agencies 136,354 — 136,354 — Other 916 916 — — Total available for sale securities 1,272,255 916 1,258,860 12,479 Derivatives - Interest rate lock and forward sale commitments 59 — 59 — Total $ 1,272,314 $ 916 $ 1,258,919 $ 12,479
Schedule of changes in Level 3 assets and liabilities measured at fair value on a recurring basis	For the three months ended March 31, 2016 and 2015 , the changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: (dollars in thousands) Available for Sale Balance at December 31, 2015 $ 12,479 Principal payments received (83 ) Unrealized net gain included in other comprehensive income 259 Balance at March 31, 2016 $ 12,655 Balance at December 31, 2014 $ 13,095 Principal payments received (735 ) Unrealized net gain included in other comprehensive income 287 Balance at March 31, 2015 $ 12,647
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 at March 31, 2016 and December 31, 2015 , the following table provides the level of valuation assumptions used to determine the respective fair values: Fair Value Measurements Using (dollars in thousands) Fair Value Quoted Prices Significant Significant March 31, 2016 Impaired loans (1) $ 37,818 $ — $ 37,818 $ — Other real estate (2) 1,260 — 1,260 — December 31, 2015 Impaired loans (1) $ 38,153 $ — $ 38,153 $ — Other real estate (2) 1,962 — 1,962 — (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)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule of segment profits (losses) and assets	Segment profits and assets are provided in the following table for the periods indicated. (dollars in thousands) Banking Treasury All Others Total Three Months Ended March 31, 2016 Net interest income $ 30,951 $ 8,260 $ — $ 39,211 Inter-segment net interest income (expense) 10,558 (7,017 ) (3,541 ) — Credit for loan and lease losses 747 — — 747 Other operating income 5,534 745 3,886 10,165 Other operating expense (14,743 ) (388 ) (17,744 ) (32,875 ) Administrative and overhead expense allocation (11,432 ) (196 ) 11,628 — Income before taxes 21,615 1,404 (5,771 ) 17,248 Income tax (expense) benefit (7,603 ) (494 ) 2,030 (6,067 ) Net income (loss) $ 14,012 $ 910 $ (3,741 ) $ 11,181 (dollars in thousands) Banking Treasury All Others Total Three Months Ended March 31, 2015 Net interest income $ 27,854 $ 8,381 $ — $ 36,235 Inter-segment net interest income (expense) 10,302 (8,698 ) (1,604 ) — Credit for loan and lease losses 2,747 — — 2,747 Other operating income 6,446 1,027 3,717 11,190 Other operating expense (14,824 ) (478 ) (18,716 ) (34,018 ) Administrative and overhead expense allocation (12,104 ) (288 ) 12,392 — Income before taxes 20,421 (56 ) (4,211 ) 16,154 Income tax expense (7,148 ) 20 1,369 (5,759 ) Net income (loss) $ 13,273 $ (36 ) $ (2,842 ) $ 10,395 (dollars in thousands) Banking Treasury All Others Total At March 31, 2016: Investment securities $ — $ 1,540,773 $ — $ 1,540,773 Loans and leases (including loans held for sale) 3,320,238 — — 3,320,238 Other 58,949 235,798 86,444 381,191 Total assets $ 3,379,187 $ 1,776,571 $ 86,444 $ 5,242,202 (dollars in thousands) Banking Treasury All Others Total 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

SUMMARY OF SIGNIFICANT ACCOUN40

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Mar. 31, 2016	Dec. 31, 2015
Gentry Home Loans L L C
Acquired Indefinite-lived Intangible Assets [Line Items]
Percentage of equity method investment ownership interest	50.00%
Pacific Access Mortgage L L C
Acquired Indefinite-lived Intangible Assets [Line Items]
Percentage of equity method investment ownership interest	50.00%
Haseko Home Loans L L C
Acquired Indefinite-lived Intangible Assets [Line Items]
Percentage of equity method investment ownership interest	50.00%
Island Pacific HomeLoans, LLC
Acquired Indefinite-lived Intangible Assets [Line Items]
Percentage of equity method investment ownership interest	50.00%
Primary Beneficiary | One Hawaii HomeLoans, LLC
Acquired Indefinite-lived Intangible Assets [Line Items]
Ownership interest acquired		50.00%

INVESTMENT SECURITIES (Availabl

INVESTMENT SECURITIES (Available for Sale and Held to Maturity Investment Securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Held-to-Maturity:
Amortized Cost	$ 241,597	$ 247,917
Gross unrealized gains	1,972	123
Gross unrealized losses	(497)	(3,904)
Fair value	243,072	244,136
Available for Sale
Amortized cost	1,274,800	1,267,503
Gross unrealized gains	25,732	13,615
Gross unrealized losses	(1,356)	(8,863)
Fair value	1,299,176	1,272,255
Residential - U.S. Government-sponsored entities
Held-to-Maturity:
Amortized Cost	146,497	152,315
Gross unrealized gains	242	123
Gross unrealized losses	(497)	(2,915)
Fair value	146,242	149,523
Available for Sale
Amortized cost	782,288	771,657
Gross unrealized gains	10,358	5,885
Gross unrealized losses	(1,000)	(5,633)
Fair value	791,646	771,909
Commercial - U.S. Government-sponsored entities
Held-to-Maturity:
Amortized Cost	95,100	95,602
Gross unrealized gains	1,730	0
Gross unrealized losses	0	(989)
Fair value	96,830	94,613
States and political subdivisions
Available for Sale
Amortized cost	186,878	187,552
Gross unrealized gains	5,280	3,819
Gross unrealized losses	(356)	(898)
Fair value	191,802	190,473
Corporate securities
Available for Sale
Amortized cost	107,315	107,721
Gross unrealized gains	2,481	1,077
Gross unrealized losses	0	(227)
Fair value	109,796	108,571
Residential - Non-government agencies
Available for Sale
Amortized cost	62,274	64,286
Gross unrealized gains	1,966	733
Gross unrealized losses	0	(987)
Fair value	64,240	64,032
Commercial - Non-government agencies
Available for Sale
Amortized cost	135,392	135,439
Gross unrealized gains	5,578	2,033
Gross unrealized losses	0	(1,118)
Fair value	140,970	136,354
Other
Available for Sale
Amortized cost	653	848
Gross unrealized gains	69	68
Gross unrealized losses	0	0
Fair value	$ 722	$ 916

INVESTMENT SECURITIES (Amortize

INVESTMENT SECURITIES (Amortized Cost and Estimated Fair Value of Investment Securities) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Held to Maturity, Amortized Cost
Mortgage-backed securities	$ 241,597
Held to Maturity, Estimated Fair Value
Mortgage-backed securities	243,072
Available for Sale, Amortized Cost
Due in one year or less	21,256
Due after one year through five years	104,442
Due after five years through ten years	78,885
Due after ten years	89,610
Total	1,274,800
Available for Sale, Estimated Fair Value
Due in one year or less	21,454
Due after one year through five years	107,027
Due after five years through ten years	81,183
Due after ten years	91,934
Available-for-sale, at fair value	1,299,176	$ 1,272,255
Available for sale
Investment securities pledged to party with no right to sell or repledge the collateral	1,000,000	1,000,000
Residential - U.S. Government-sponsored entities
Held to Maturity, Amortized Cost
Mortgage-backed securities	146,497
Held to Maturity, Estimated Fair Value
Mortgage-backed securities	146,242
Available for Sale, Amortized Cost
Mortgage-backed securities	782,288
Available for Sale, Estimated Fair Value
Mortgage-backed securities	791,646
Available-for-sale, at fair value	791,646	771,909
Commercial - U.S. Government-sponsored entities
Held to Maturity, Amortized Cost
Mortgage-backed securities	95,100
Held to Maturity, Estimated Fair Value
Mortgage-backed securities	96,830
Residential - Non-government agencies
Available for Sale, Amortized Cost
Mortgage-backed securities	62,274
Available for Sale, Estimated Fair Value
Mortgage-backed securities	64,240
Available-for-sale, at fair value	64,240	64,032
Commercial - Non-government agencies
Available for Sale, Amortized Cost
Mortgage-backed securities	135,392
Available for Sale, Estimated Fair Value
Mortgage-backed securities	140,970
Available-for-sale, at fair value	140,970	136,354
Other
Available for Sale, Amortized Cost
Other	653
Available for Sale, Estimated Fair Value
Other	722
Available-for-sale, at fair value	$ 722	$ 916

INVESTMENT SECURITIES (Investme

INVESTMENT SECURITIES (Investment Securities at an Unrealized Loss Position) (Details) $ in Thousands	Mar. 31, 2016USD ($)security	Dec. 31, 2015USD ($)security
Investments, Debt and Equity Securities [Abstract]
Number of investment securities in an unrealized loss position | security	51	155
Total temporary impaired securities
Less than 12 months, Fair Value	$ 51,759	$ 766,126
Less than 12 months, Unrealized Losses	(208)	(9,937)
12 months or longer, Fair Value	263,313	105,491
12 months or longer, Unrealized Losses	(1,645)	(2,830)
Total, Fair Value	315,072	871,617
Total, Unrealized Losses	(1,853)	(12,767)
States and political subdivisions
Total temporary impaired securities
Less than 12 months, Fair Value	6,786	30,481
Less than 12 months, Unrealized Losses	(88)	(532)
12 months or longer, Fair Value	8,640	12,576
12 months or longer, Unrealized Losses	(268)	(366)
Total, Fair Value	15,426	43,057
Total, Unrealized Losses	(356)	(898)
Corporate securities
Total temporary impaired securities
Less than 12 months, Fair Value		32,977
Less than 12 months, Unrealized Losses		(227)
12 months or longer, Fair Value		0
12 months or longer, Unrealized Losses		0
Total, Fair Value		32,977
Total, Unrealized Losses		(227)
Residential - U.S. Government-sponsored entities
Total temporary impaired securities
Less than 12 months, Fair Value	44,973	507,525
Less than 12 months, Unrealized Losses	(120)	(6,241)
12 months or longer, Fair Value	254,673	88,271
12 months or longer, Unrealized Losses	(1,377)	(2,307)
Total, Fair Value	299,646	595,796
Total, Unrealized Losses	$ (1,497)	(8,548)
Residential - Non-government agencies
Total temporary impaired securities
Less than 12 months, Fair Value		37,975
Less than 12 months, Unrealized Losses		(987)
12 months or longer, Fair Value		0
12 months or longer, Unrealized Losses		0
Total, Fair Value		37,975
Total, Unrealized Losses		(987)
Commercial - U.S. Government-sponsored entities
Total temporary impaired securities
Less than 12 months, Fair Value		94,613
Less than 12 months, Unrealized Losses		(989)
12 months or longer, Fair Value		0
12 months or longer, Unrealized Losses		0
Total, Fair Value		94,613
Total, Unrealized Losses		(989)
Commercial - Non-government agencies
Total temporary impaired securities
Less than 12 months, Fair Value		62,555
Less than 12 months, Unrealized Losses		(961)
12 months or longer, Fair Value		4,644
12 months or longer, Unrealized Losses		(157)
Total, Fair Value		67,199
Total, Unrealized Losses		$ (1,118)

LOANS AND LEASES (Loans and Lea

LOANS AND LEASES (Loans and Leases) (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2016USD ($)	Sep. 30, 2015loan	Mar. 31, 2015USD ($)loan	Dec. 31, 2015USD ($)
LOANS AND LEASES
Loans and leases, gross	$ 3,307,528	$ 3,307,528			$ 3,210,133
Net deferred costs	1,440	1,440			1,399
Total loans and leases, net of deferred costs	3,308,968	3,308,968			3,211,532
Number of collateral portfolio loans transferred to held-for-sale category | loan			0	3
Net reclassification of loans to other real estate		0		$ 1,369
Number of loans sold | loan				0
Commercial, financial & agricultural
LOANS AND LEASES
Loans and leases, gross	534,562	534,562			520,457
Net deferred costs	529	529			629
Total loans and leases, net of deferred costs	535,091	535,091			521,086
Real estate, construction
LOANS AND LEASES
Loans and leases, gross	101,663	101,663			85,196
Net deferred costs	(309)	(309)			(311)
Total loans and leases, net of deferred costs	101,354	101,354			84,885
Real estate, Mortgage - residential
LOANS AND LEASES
Loans and leases, gross	1,456,715	1,456,715			1,433,862
Net deferred costs	2,487	2,487			2,443
Total loans and leases, net of deferred costs	1,459,202	1,459,202			1,436,305
Real estate, Mortgage - commercial
LOANS AND LEASES
Loans and leases, gross	773,828	773,828			761,566
Net deferred costs	(792)	(792)			(817)
Total loans and leases, net of deferred costs	773,036	773,036			760,749
Consumer
LOANS AND LEASES
Loans and leases, gross	439,824	439,824			408,024
Net deferred costs	(475)	(475)			(545)
Total loans and leases, net of deferred costs	439,349	439,349			407,479
Leases
LOANS AND LEASES
Loans and leases, gross	936	936			1,028
Net deferred costs	0	0			0
Total loans and leases, net of deferred costs	936	936			$ 1,028
Consumer Portfolio Segment | Consumer
LOANS AND LEASES
Payments to acquire loans receivable		$ 29,200
Weighted average remaining term		38 months
Consumer Portfolio Segment | Automobile Loan
LOANS AND LEASES
Payments to acquire loans receivable	23,200
Premium over loan outstanding balance	300	$ 300
Consumer Portfolio Segment | Weighted average | Consumer
LOANS AND LEASES
Weighted average yield		7.55%
Uncollateralized | Consumer Portfolio Segment | Automobile Loan
LOANS AND LEASES
Loans and leases, gross	$ 22,900	$ 22,900
Weighted average remaining term	56 months
Uncollateralized | Consumer Portfolio Segment | Weighted average | Automobile Loan
LOANS AND LEASES
Weighted average yield	3.88%

LOANS AND LEASES (Allowance for

LOANS AND LEASES (Allowance for Loan and Lease Losses) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Allowance for loan and lease losses:
Total ending balance	$ 62,149	$ 63,314	$ 71,433	$ 74,040
Loans and leases :
Individually evaluated for impairment	38,364	38,204
Collectively evaluated for impairment	3,269,164	3,171,929
Loans and leases	3,307,528	3,210,133
Net deferred costs	1,440	1,399
Total loans and leases, net of deferred costs	3,308,968	3,211,532
Allocated
Allowance for loan and lease losses:
Ending balance attributable to loans : Individually evaluated for impairment	546	51
Ending balance attributable to loans : Collectively evaluated for impairment	59,603	61,123
Total ending balance	60,149	61,174
Commercial, financial & agricultural
Allowance for loan and lease losses:
Ending balance attributable to loans : Individually evaluated for impairment	500	0
Ending balance attributable to loans : Collectively evaluated for impairment	6,500	6,905
Total ending balance	7,000	6,905	8,791	8,954
Loans and leases :
Individually evaluated for impairment	2,244	1,044
Collectively evaluated for impairment	532,318	519,413
Loans and leases	534,562	520,457
Net deferred costs	529	629
Total loans and leases, net of deferred costs	535,091	521,086
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	4,128	8,454
Total ending balance	4,128	8,454	14,305	14,969
Loans and leases :
Individually evaluated for impairment	4,001	4,126
Collectively evaluated for impairment	97,662	81,070
Loans and leases	101,663	85,196
Net deferred costs	(309)	(311)
Total loans and leases, net of deferred costs	101,354	84,885
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	18,005	17,738
Total ending balance	18,005	17,738	17,057	17,927
Loans and leases :
Individually evaluated for impairment	22,078	22,716
Collectively evaluated for impairment	1,434,637	1,411,146
Loans and leases	1,456,715	1,433,862
Net deferred costs	2,487	2,443
Total loans and leases, net of deferred costs	1,459,202	1,436,305
Real estate, Mortgage - commercial
Allowance for loan and lease losses:
Ending balance attributable to loans : Individually evaluated for impairment	46	51
Ending balance attributable to loans : Collectively evaluated for impairment	25,127	21,796
Total ending balance	25,173	21,847	20,161	20,869
Loans and leases :
Individually evaluated for impairment	10,041	10,318
Collectively evaluated for impairment	763,787	751,248
Loans and leases	773,828	761,566
Net deferred costs	(792)	(817)
Total loans and leases, net of deferred costs	773,036	760,749
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	5,843	6,230
Total ending balance	5,843	6,230	7,119	7,314
Loans and leases :
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	439,824	408,024
Loans and leases	439,824	408,024
Net deferred costs	(475)	(545)
Total loans and leases, net of deferred costs	439,349	407,479
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	0
Total ending balance	0	0	0	7
Loans and leases :
Individually evaluated for impairment	0	0
Collectively evaluated for impairment	936	1,028
Loans and leases	936	1,028
Net deferred costs	0	0
Total loans and leases, net of deferred costs	936	1,028
Unallocated
Allowance for loan and lease losses:
Total ending balance	$ 2,000	$ 2,140	$ 4,000	$ 4,000

LOANS AND LEASES (Impaired Loan

LOANS AND LEASES (Impaired Loans) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Unpaid Principal Balance
Impaired loans with no related allowance recorded	$ 46,033		$ 46,429
Impaired loans with an allowance recorded	1,606		1,166
Total	47,639		47,595
Recorded Investment
Impaired loans with no related allowance recorded	36,758		37,038
Impaired loans with an allowance recorded	1,606		1,166
Total	38,364		38,204
Allowance Allocated
Impaired loans with an allowance recorded	546		51
Average recorded investment on impaired loans
Average Recorded Investment	37,917	$ 70,050
Interest income recognized on impaired loans
Interest Income Recognized	68	256
Commercial, financial & agricultural
Unpaid Principal Balance
Impaired loans with no related allowance recorded	1,854		1,155
Impaired loans with an allowance recorded	500
Recorded Investment
Impaired loans with no related allowance recorded	1,744		1,044
Impaired loans with an allowance recorded	500
Allowance Allocated
Impaired loans with an allowance recorded	500
Average recorded investment on impaired loans
Average Recorded Investment	1,423	13,646
Interest income recognized on impaired loans
Interest Income Recognized	0	5
Real estate, construction
Unpaid Principal Balance
Impaired loans with no related allowance recorded	10,346		10,472
Recorded Investment
Impaired loans with no related allowance recorded	4,001		4,126
Average recorded investment on impaired loans
Average Recorded Investment	4,046	4,699
Interest income recognized on impaired loans
Interest Income Recognized	36	86
Real estate, Mortgage - residential
Unpaid Principal Balance
Impaired loans with no related allowance recorded	24,040		24,792
Recorded Investment
Impaired loans with no related allowance recorded	22,078		22,716
Average recorded investment on impaired loans
Average Recorded Investment	22,308	28,954
Interest income recognized on impaired loans
Interest Income Recognized	(2)	1
Loans in the process of foreclosure	1,100
Real estate, Mortgage - commercial
Unpaid Principal Balance
Impaired loans with no related allowance recorded	9,793		10,010
Impaired loans with an allowance recorded	1,106		1,166
Recorded Investment
Impaired loans with no related allowance recorded	8,935		9,152
Impaired loans with an allowance recorded	1,106		1,166
Allowance Allocated
Impaired loans with an allowance recorded	46		$ 51
Average recorded investment on impaired loans
Average Recorded Investment	10,140	22,751
Interest income recognized on impaired loans
Interest Income Recognized	$ 34	$ 164

LOANS AND LEASES (Aging of Reco

LOANS AND LEASES (Aging of Recorded Investment) (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	$ 22,099,000	$ 21,354,000
Nonaccrual Loans	14,684,000	14,268,000
Loans and Leases Not Past Due	3,286,869,000	3,190,178,000
Total loans and leases, net of deferred costs	3,308,968,000	3,211,532,000
Commercial, financial & agricultural
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	2,897,000	1,460,000
Nonaccrual Loans	2,244,000	1,044,000
Loans and Leases Not Past Due	532,194,000	519,626,000
Total loans and leases, net of deferred costs	535,091,000	521,086,000
Real estate, construction
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	95,000	0
Nonaccrual Loans	0	0
Loans and Leases Not Past Due	101,259,000	84,885,000
Total loans and leases, net of deferred costs	101,354,000	84,885,000
Real estate, Mortgage - residential
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	10,737,000	10,509,000
Nonaccrual Loans	5,527,000	6,130,000
Loans and Leases Not Past Due	1,448,465,000	1,425,796,000
Total loans and leases, net of deferred costs	1,459,202,000	1,436,305,000
Real estate, Mortgage - commercial
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	6,913,000	7,148,000
Nonaccrual Loans	6,913,000	7,094,000
Loans and Leases Not Past Due	766,123,000	753,601,000
Total loans and leases, net of deferred costs	773,036,000	760,749,000
Consumer
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	1,457,000	2,237,000
Nonaccrual Loans	0	0
Loans and Leases Not Past Due	437,892,000	405,242,000
Total loans and leases, net of deferred costs	439,349,000	407,479,000
Leases
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	0	0
Nonaccrual Loans	0	0
Loans and Leases Not Past Due	936,000	1,028,000
Total loans and leases, net of deferred costs	936,000	1,028,000
Accruing Loans 30 - 59 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	5,906,000	5,607,000
Accruing Loans 30 - 59 Days Past Due | Commercial, financial & agricultural
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	297,000	276,000
Accruing Loans 30 - 59 Days Past Due | Real estate, construction
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	95,000	0
Accruing Loans 30 - 59 Days Past Due | Real estate, Mortgage - residential
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	4,554,000	3,834,000
Accruing Loans 30 - 59 Days Past Due | Real estate, Mortgage - commercial
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	0	54,000
Accruing Loans 30 - 59 Days Past Due | Consumer
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	960,000	1,443,000
Accruing Loans 30 - 59 Days Past Due | Leases
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	0	0
Accruing Loans 60 - 89 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	728,000	1,206,000
Accruing Loans 60 - 89 Days Past Due | Commercial, financial & agricultural
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	356,000	140,000
Accruing Loans 60 - 89 Days Past Due | Real estate, construction
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	0	0
Accruing Loans 60 - 89 Days Past Due | Real estate, Mortgage - residential
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	0	545,000
Accruing Loans 60 - 89 Days Past Due | Real estate, Mortgage - commercial
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	0	0
Accruing Loans 60 - 89 Days Past Due | Consumer
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	372,000	521,000
Accruing Loans 60 - 89 Days Past Due | Leases
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	0	0
Accruing Loans Greater Than 90 Days Past Due
Aging Analysis of Accruing and Non-Accruing Loans and Leases
Financing Receivable, Recorded Investment, Past Due	0	0
Accruing Loans Greater Than 90 Days Past Due	781,000	273,000
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	656,000	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	125,000	273,000
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)	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)loan	Mar. 31, 2015USD ($)contractloan	Dec. 31, 2015USD ($)
Information related to loans modified in a TDR
Commitments to lend additional funds	$ 0
Amount of TDRs still accruing interest	20,100,000		$ 20,300,000
Financing Receivable, Recorded Investment, Past Due	$ 22,099,000		$ 21,354,000
Holding period limit for accruing interest on TDRs	90 days		90 days
Loans modified as a TDR within the previous twelve months that subsequently defaulted
Number of loans were modified as a TDR within the previous twelve months that subsequently defaulted | loan	0	0
HAWAII
Information related to loans modified in a TDR
Principal balances of troubled debt restructurings included in nonperforming assets	$ 6,300,000
Real estate, Mortgage - residential
Information related to loans modified in a TDR
Number of TDRs included in nonperforming assets | contract		11
Recorded Investment		$ 910,000
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down		$ 0
Real estate, Mortgage - residential | HAWAII
Information related to loans modified in a TDR
Number of TDRs included in nonperforming assets | loan	22
Principal balances of troubled debt restructurings included in nonperforming assets	$ 3,200,000
Real estate, Mortgage - commercial | HAWAII
Information related to loans modified in a TDR
Number of TDRs included in nonperforming assets | loan	1
Principal balances of troubled debt restructurings included in nonperforming assets	$ 2,100,000
Commercial loans | HAWAII
Information related to loans modified in a TDR
Number of TDRs included in nonperforming assets | loan	3
Principal balances of troubled debt restructurings included in nonperforming assets	$ 1,000,000
Accruing Loans Greater Than 90 Days Past Due
Information related to loans modified in a TDR
Amount of TDRs still accruing interest			$ 0
Financing Receivable, Recorded Investment, Past Due	$ 0		$ 0

LOANS AND LEASES (Class and Cre

LOANS AND LEASES (Class and Credit Indicator) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	$ 3,307,528	$ 3,210,133
Net deferred costs	1,440	1,399
Total loans and leases, net of deferred costs	3,308,968	3,211,532
Commercial, financial & agricultural
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	534,562	520,457
Net deferred costs	529	629
Total loans and leases, net of deferred costs	535,091	521,086
Real estate, construction
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	101,663	85,196
Net deferred costs	(309)	(311)
Total loans and leases, net of deferred costs	101,354	84,885
Real estate, Mortgage - residential
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	1,456,715	1,433,862
Net deferred costs	2,487	2,443
Total loans and leases, net of deferred costs	1,459,202	1,436,305
Real estate, Mortgage - commercial
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	773,828	761,566
Net deferred costs	(792)	(817)
Total loans and leases, net of deferred costs	773,036	760,749
Consumer
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	439,824	408,024
Net deferred costs	(475)	(545)
Total loans and leases, net of deferred costs	439,349	407,479
Leases
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	936	1,028
Net deferred costs	0	0
Total loans and leases, net of deferred costs	936	1,028
Pass
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	3,233,660	3,140,630
Pass | Commercial, financial & agricultural
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	529,448	514,971
Pass | Real estate, construction
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	97,915	83,601
Pass | Real estate, Mortgage - residential
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	1,450,416	1,427,732
Pass | Real estate, Mortgage - commercial
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	715,337	705,520
Pass | Consumer
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	439,608	407,778
Pass | Leases
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	936	1,028
Special Mention
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	45,718	44,406
Special Mention | Commercial, financial & agricultural
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	2,033	2,168
Special Mention | Real estate, construction
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	2,914	808
Special Mention | Real estate, Mortgage - residential
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	116	0
Special Mention | Real estate, Mortgage - commercial
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	40,655	41,335
Special Mention | Consumer
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	0	95
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	28,097	25,097
Substandard | Commercial, financial & agricultural
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	3,081	3,318
Substandard | Real estate, construction
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	834	787
Substandard | Real estate, Mortgage - residential
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	6,183	6,130
Substandard | Real estate, Mortgage - commercial
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	17,836	14,711
Substandard | Consumer
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	163	151
Substandard | Leases
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	0	0
Loss
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	53	0
Loss | Commercial, financial & agricultural
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	0	0
Loss | Real estate, construction
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	0	$ 0
Loss | Real estate, Mortgage - residential
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	0
Loss | Real estate, Mortgage - commercial
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	0	$ 0
Loss | Consumer
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	53	0
Loss | Leases
Recorded investment in the loans and leases, by class and credit indicator
Loans and leases, gross	$ 0	$ 0

ALLOWANCE FOR LOAN AND LEASE 50

ALLOWANCE FOR LOAN AND LEASE LOSSES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Changes in the allowance
Beginning balance	$ 63,314	$ 74,040
Provision (credit) for loan and lease losses	(747)	(2,747)
Subtotal	62,567	71,293
Charge-offs	1,464	2,786
Recoveries	1,046	2,926
Net charge-offs (recoveries)	418	(140)
Ending balance	62,149	71,433
Commercial, financial & agricultural
Changes in the allowance
Beginning balance	6,905	8,954
Provision (credit) for loan and lease losses	98	147
Subtotal	7,003	9,101
Charge-offs	352	878
Recoveries	349	568
Net charge-offs (recoveries)	3	310
Ending balance	7,000	8,791
Real estate, construction
Changes in the allowance
Beginning balance	8,454	14,969
Provision (credit) for loan and lease losses	(4,335)	(787)
Subtotal	4,119	14,182
Charge-offs	0	0
Recoveries	9	123
Net charge-offs (recoveries)	(9)	(123)
Ending balance	4,128	14,305
Real estate, Mortgage - residential
Changes in the allowance
Beginning balance	17,738	17,927
Provision (credit) for loan and lease losses	230	(2,344)
Subtotal	17,968	15,583
Charge-offs	0	14
Recoveries	37	1,488
Net charge-offs (recoveries)	(37)	(1,474)
Ending balance	18,005	17,057
Real estate, Mortgage - commercial
Changes in the allowance
Beginning balance	21,847	20,869
Provision (credit) for loan and lease losses	3,313	(721)
Subtotal	25,160	20,148
Charge-offs	0	0
Recoveries	13	13
Net charge-offs (recoveries)	(13)	(13)
Ending balance	25,173	20,161
Consumer
Changes in the allowance
Beginning balance	6,230	7,314
Provision (credit) for loan and lease losses	87	965
Subtotal	6,317	8,279
Charge-offs	1,112	1,894
Recoveries	638	734
Net charge-offs (recoveries)	474	1,160
Ending balance	5,843	7,119
Leases
Changes in the allowance
Beginning balance	0	7
Provision (credit) for loan and lease losses		(7)
Subtotal	0	0
Charge-offs	0	0
Recoveries	0	0
Net charge-offs (recoveries)	0	0
Ending balance	0	0
Unallocated
Changes in the allowance
Beginning balance	2,140	4,000
Provision (credit) for loan and lease losses	(140)	0
Subtotal	2,000	4,000
Charge-offs	0	0
Recoveries	0	0
Net charge-offs (recoveries)	0	0
Ending balance	$ 2,000	$ 4,000

SECURITIZATIONS (Details)

SECURITIZATIONS (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
SECURITIZATIONS
Mortgage servicing rights	$ 16,800	$ 17,797
Real estate, Mortgage - residential | Significant Other Observable Inputs (Level 2)
SECURITIZATIONS
Mortgage servicing rights	2,700	2,700
Unrealized gains recorded in AOCI	$ 200	$ 200

INVESTMENTS IN UNCONSOLIDATED52

INVESTMENTS IN UNCONSOLIDATED SUBSIDIARIES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]
Investments in low income housing tax credit partnerships	$ 2,446		$ 2,699
Trust preferred investments	2,792		2,792
Investments in affiliates	335		612
Other	54		54
Investment in unconsolidated subsidiaries	5,627		$ 6,157
Amortization expense in pretax income	258	$ 288
Income tax credits and adjustments	$ 337	$ 328

OTHER INTANGIBLE ASSETS (Detail

OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Dec. 31, 2015
Changes in other intangible assets
Balance, beginning of period	$ 25,152
Additions	512
Amortization	(2,178)
Balance, end of period	23,486
Income generated as a result of new mortgage servicing rights reported as gains on sale of loans	1,466	$ 1,594
Gross carrying value, accumulated amortization and net carrying value related to intangible assets
Gross Carrying Value			$ 104,155	$ 103,643
Accumulated Amortization			(80,669)	(78,491)
Other intangible assets	25,152		23,486	25,152
Estimated Amortization Expense
2016 (remainder)			6,247
2,017			6,102
2,018			4,387
2,019			1,546
2,020			930
2,021			147
Thereafter			4,127
Other intangible assets	25,152		23,486	25,152
Core Deposit Premium
Changes in other intangible assets
Balance, beginning of period	7,355
Additions	0
Amortization	(669)
Balance, end of period	6,686
Gross carrying value, accumulated amortization and net carrying value related to intangible assets
Gross Carrying Value			44,642	44,642
Accumulated Amortization			(37,956)	(37,287)
Other intangible assets	7,355		6,686	7,355
Estimated Amortization Expense
2016 (remainder)			2,006
2,017			2,674
2,018			2,006
2,019			0
2,020			0
2,021			0
Thereafter			0
Other intangible assets	7,355		6,686	7,355
Mortgage Servicing Rights
Changes in other intangible assets
Balance, beginning of period	17,797
Additions	512
Amortization	(1,509)	(1,400)
Balance, end of period	16,800
Income generated as a result of new mortgage servicing rights reported as gains on sale of loans	500	600
Fair market value and key assumptions used in determining the fair market value
Fair market value, beginning of period	18,345	19,975
Fair market value, end of period	$ 17,195	$ 19,172
Weighted average discount rate	9.50%	9.50%
Forecasted constant prepayment rate assumption	15.30%	13.90%
Gross carrying value, accumulated amortization and net carrying value related to intangible assets
Gross Carrying Value			59,513	59,001
Accumulated Amortization			(42,713)	(41,204)
Other intangible assets	$ 17,797		16,800	17,797
Estimated Amortization Expense
2016 (remainder)			4,241
2,017			3,428
2,018			2,381
2,019			1,546
2,020			930
2,021			147
Thereafter			4,127
Other intangible assets	$ 17,797		$ 16,800	$ 17,797

DERIVATIVES (Details)

DERIVATIVES (Details) - Derivatives Not Designated as Hedging Instruments $ in Millions	Mar. 31, 2016USD ($)
Interest rate lock commitments
DERIVATIVES
Mortgage loans hedged	$ 9.3
Forward sale commitments
DERIVATIVES
Mortgage loans hedged	$ 9

DERIVATIVES (Balance Sheet) (De

DERIVATIVES (Balance Sheet) (Details) - Derivatives Not Designated as Hedging Instruments - Derivative - Interest Rate Contracts - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Asset Derivatives
Fair Value	$ 94	$ 68
Liability Derivatives
Fair Value	$ 114	$ 9

DERIVATIVES (Income Statement)

DERIVATIVES (Income Statement) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Derivatives Not Designated as Hedging Instruments | Derivatives Not in Cash Flow Hedging Relationship | Derivative - Interest Rate Contracts
DERIVATIVES
Amount of Gain (Loss) Recognized in Earnings on Derivatives	$ (79)	$ 466

SHORT-TERM BORROWINGS AND LON57

SHORT-TERM BORROWINGS AND LONG-TERM DEBT (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
LONG-TERM DEBT
Short-term borrowings	$ 106,000,000	$ 69,000,000
Long term borrowings	92,785,000	92,785,000
Investment securities pledged as collateral	1,000,000,000	1,000,000,000
Federal Home Loan Bank Borrowings
LONG-TERM DEBT
Line of Credit, maximum borrowing capacity	1,262,000,000
Additional unused borrowings available	1,160,000,000
Short-term borrowings	106,000,000	69,000,000
Long term borrowings	0	0
Investment securities pledged as collateral	500,000
Commercial real estate and commercial loans pledged as collateral	1,660,000,000
Federal Reserve discount window line of credit
LONG-TERM DEBT
Additional unused borrowings available	35,100,000	40,800,000
Commercial real estate and commercial loans pledged as collateral	$ 68,800,000	$ 87,300,000

EQUITY (Details)

EQUITY (Details)

Aug. 03, 2015USD ($)$ / sharesshares

Jun. 04, 2015USD ($)$ / sharesshares

Apr. 01, 2015USD ($)$ / sharesshares

Feb. 20, 2014USD ($)shares

Jan. 29, 2014

Nov. 23, 2010$ / shares

Mar. 31, 2015USD ($)

Jan. 31, 2015USD ($)

Mar. 31, 2016USD ($)$ / sharesshares

Jun. 30, 2015USD ($)$ / shares

Mar. 31, 2015USD ($)shares

Dec. 31, 2015USD ($)$ / sharesshares

Dec. 31, 2014USD ($)shares

Jan. 31, 2016USD ($)

May. 20, 2014USD ($)

EQUITY

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%

Par value (in dollars per share) | $ / shares

$ 0

$ 0

Additional extension period

2 years

Shares of common stock repurchased | shares

233,722

473,829

Common stock, par value (in dollars per share) | $ / shares

$ 0

$ 0

$ 0

Other operating expense

$ 3,710,000

$ 4,492,000

Rights

EQUITY

Additional extension period of Tax Benefits Preservation Plan

2 years

Central Pacific Bank

EQUITY

Statutory retained earnings

65,600,000

Common Stock

EQUITY

Up to value of shares repurchased

$ 16,500,000

Shares of common stock repurchased | shares

857,554

Common Stock | Repurchase Plan 2014

EQUITY

Up to value of shares repurchased

$ 93,300,000

Shares of common stock repurchased | shares

4,122,881

Amount authorized under the Repurchase Plan

$ 30,000,000

Increase in share repurchase authorized amount

$ 75,000,000

$ 25,000,000

Remaining amount available for repurchase

$ 20,200,000

Common Stock | 2016 Repurchase Plan

EQUITY

Up to value of shares repurchased

$ 4,700,000

Shares of common stock repurchased | shares

233,722

Amount authorized under the Repurchase Plan

$ 30,000,000

Common Stock | Repurchase Agreements | Carlyle

EQUITY

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

Shares of common stock repurchased | shares

1,391,089

Common Stock | Underwriting Agreement

EQUITY

Up to value of shares repurchased

$ 122,500,000

$ 66,500,000

$ 175,000,000

Common stock, par value (in dollars per share) | $ / shares

$ 0

$ 0

Common stock, sale price (in dollars per share) | $ / shares

$ 22.11

$ 22.15

$ 23.01

Other operating expense

$ 400,000

$ 300,000

Equity related expense

$ 200,000

Common Stock | Underwriting Agreement | Carlyle

EQUITY

Shares of common stock repurchased | shares

1,500,000

3,802,694

Common Stock | Underwriting Agreement | Anchorage

EQUITY

Shares of common stock repurchased | shares

1,500,000

3,802,694

Common Stock | Underwriting Agreement | Carlyle And Anchorage

EQUITY

Shares of common stock repurchased | shares

3,000,000

7,605,388

Common Stock | Underwriting Agreement | Citigroup Global Markets

EQUITY

Up to value of shares repurchased

$ 75,000,000

Shares of common stock repurchased | shares

3,259,452

Common stock, sale price (in dollars per share) | $ / shares

$ 23.01

Common Stock | Underwriting Agreement | UBS

EQUITY

Shares of common stock repurchased | shares

5,538,624

Common Stock | Maximum | Repurchase Agreements | Carlyle

EQUITY

Up to value of shares repurchased

$ 28,100,000

Junior Participating Preferred Stock, Series C | Rights

EQUITY

Fraction of securities callable by each warrant or right

0.0001

Exercise price of warrant (in dollars per share) | $ / shares

$ 6

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - Restricted Stock Awards and Units	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Activity of nonvested shares
Nonvested restricted stock awards and units, beginning of period (in shares) | shares	463,917
Changes during the period:
Granted (in shares) | shares	63,436
Vested (in shares) | shares	(53,431)
Forfeited (in shares) | shares	0
Nonvested restricted stock awards and units, end of period (in shares) | shares	473,922
Weighted Average Grant Date Fair Value
Nonvested restricted stock awards and units, beginning of period (in dollars per share) | $ / shares	$ 17.41
Changes during the period:
Granted (in dollars per share) | $ / shares	20.31
Vested (in dollars per share) | $ / shares	17.97
Forfeited (in dollars per share) | $ / shares	0
Nonvested restricted stock awards and units, end of period (in dollars per share) | $ / shares	$ 17.74

ACCUMULATED OTHER COMPREHENSI60

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Components of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net unrealized gains/losses on investment securities, Before Tax
Net unrealized gains (losses) arising during the period	$ 19,683	$ 11,476
Less: Reclassification adjustment for gains (losses) realized in net income	0	0
Net unrealized gains (losses) on investment securities	19,683	11,476
Defined benefit plans, Before Tax
Amortization of net actuarial losses	367	420
Amortization of net transition obligation	4	4
Amortization of prior service cost	5	5
Defined benefit plans, net	376	429
Other comprehensive income (loss)	20,059	11,905
Net unrealized gains/losses on investment securities, Tax Effect
Net unrealized gains (losses) arising during the period	7,830	4,567
Less: Reclassification adjustment for gains (losses) realized in net income	0	0
Net unrealized gains (losses) on investment securities	7,830	4,567
Defined benefit plans, Tax Effect
Amortization of net actuarial losses	124	165
Amortization of net transition obligation	1	2
Amortization of prior service cost	1	2
Defined benefit plans, net	126	169
Other comprehensive income	7,956	4,736
Net unrealized gains/losses on investment securities, Net of Tax
Net unrealized gains (losses) arising during the period	11,853	6,909
Less: Reclassification adjustment for gains (losses) realized in net income	0	0
Net unrealized gains (losses) on investment securities	11,853	6,909
Defined benefit plans, Net of Tax
Amortization of net actuarial losses	243	255
Amortization of net transition obligation	3	2
Amortization of prior service cost	4	3
Defined benefit plans, net	250	260
Total other comprehensive income, net of tax	$ 12,103	$ 7,169

ACCUMULATED OTHER COMPREHENSI61

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Components of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Changes in each component of AOCI, net of tax
Balance at beginning of period	$ 203	$ 3,159
Other comprehensive income/loss before reclassifications	11,853	6,909
Amounts reclassified from AOCI	250	260
Total other comprehensive income, net of tax	12,103	7,169
Balance at end of period	12,306	10,328
Investment Securities
Changes in each component of AOCI, net of tax
Balance at beginning of period	9,181	13,586
Other comprehensive income/loss before reclassifications	11,853	6,909
Amounts reclassified from AOCI	0	0
Total other comprehensive income, net of tax	11,853	6,909
Balance at end of period	21,034	20,495
Defined Benefit Plans
Changes in each component of AOCI, net of tax
Balance at beginning of period	(8,978)	(10,427)
Other comprehensive income/loss before reclassifications	0	0
Amounts reclassified from AOCI	250	260
Total other comprehensive income, net of tax	250	260
Balance at end of period	$ (8,728)	$ (10,167)

ACCUMULATED OTHER COMPREHENSI62

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Reclassified out of AOCI) (LOSS) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Amounts reclassified out of each component of accumulated other comprehensive income
Tax benefit	$ (6,067)	$ (5,759)
Net income	11,181	10,395
Amount Reclassified from AOCI
Amounts reclassified out of each component of accumulated other comprehensive income
Net income	(250)	(260)
Defined Benefit Plans | Amount Reclassified from AOCI
Amounts reclassified out of each component of accumulated other comprehensive income
Total before tax	(376)	(429)
Tax benefit	126	169
Net actuarial losses | Amount Reclassified from AOCI
Amounts reclassified out of each component of accumulated other comprehensive income
Total before tax	(367)	(420)
Net transition obligation | Amount Reclassified from AOCI
Amounts reclassified out of each component of accumulated other comprehensive income
Total before tax	(4)	(4)
Prior service cost | Amount Reclassified from AOCI
Amounts reclassified out of each component of accumulated other comprehensive income
Total before tax	$ (5)	$ (5)

PENSION AND SUPPLEMENTAL EXEC63

PENSION AND SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Pension Plan
Components of net periodic benefit cost
Interest cost	$ 343	$ 348
Expected return on plan assets	(439)	(472)
Amortization of net actuarial losses	354	393
Net periodic cost	258	269
SERPs
Components of net periodic benefit cost
Interest cost	116	110
Amortization of net actuarial losses	13	4
Amortization of net transition obligation	4	5
Amortization of prior service cost	5	27
Net periodic cost	$ 138	$ 146

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
SHARE-BASED COMPENSATION
Net income	$ 11,181	$ 10,395
Weighted average shares outstanding - basic	31,263,433	34,827,141
Weighted average shares outstanding - diluted	31,506,307	35,478,629
Basic earnings per share (in dollars per share)	$ 0.36	$ 0.30
Diluted earnings per share (in dollars per share)	$ 0.35	$ 0.29
Antidilutive securities excluded from the dilutive share calculation (in shares)	28,135	13,472
Stock Option
SHARE-BASED COMPENSATION
Dilutive effect of share-based compensation arrangements	242,874	651,488

FAIR VALUE OF FINANCIAL ASSET65

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Schedule of Carrying Amount and Estimated Fair Value of Financial Instruments) (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Financial assets
Cash and due from banks	$ 85,495,000	$ 71,797,000
Interest-bearing deposits in other banks	7,180,000	8,397,000
Loans held for sale	11,270,000	14,109,000
Accrued interest receivable	14,818,000	14,898,000
Deposits:
Noninterest-bearing deposits	1,140,741,000	1,145,244,000
Time deposits	1,040,457,000	1,064,207,000
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
Carrying Amount
Financial assets
Cash and due from banks	85,495,000	71,797,000
Interest-bearing deposits in other banks	7,180,000	8,397,000
Investment securities	1,540,773,000	1,520,172,000
Loans held for sale	11,270,000	14,109,000
Net loans and leases	3,246,819,000	3,148,218,000
Accrued interest receivable	14,818,000	14,898,000
Deposits:
Noninterest-bearing deposits	1,140,741,000	1,145,244,000
Interest-bearing demand and savings deposits	2,315,404,000	2,223,988,000
Time deposits	1,040,457,000	1,064,207,000
Short-term debt	106,000,000	69,000,000
Long-term debt	92,785,000	92,785,000
Accrued interest payable (included in other liabilities)	1,325,000	1,072,000
Carrying Amount | Commitments to extend credit
Deposits:
Off-balance sheet financial instruments	796,168,000	801,835,000
Carrying Amount | Standby letters of credit and financial guarantees written
Deposits:
Off-balance sheet financial instruments	15,356,000	13,434,000
Carrying Amount | Interest rate lock commitments
Deposits:
Off-balance sheet financial instruments	9,333,000	24,009,000
Carrying Amount | Forward sale commitments
Deposits:
Off-balance sheet financial instruments	9,009,000	9,973,000
Estimated Fair Value
Financial assets
Cash and due from banks	85,495,000	71,797,000
Interest-bearing deposits in other banks	7,180,000	8,397,000
Investment securities	1,542,248,000	1,516,391,000
Loans held for sale	11,270,000	14,109,000
Net loans and leases	3,227,982,000	3,094,404,000
Accrued interest receivable	14,818,000	14,898,000
Deposits:
Noninterest-bearing deposits	1,140,741,000	1,145,244,000
Interest-bearing demand and savings deposits	2,315,404,000	2,223,988,000
Time deposits	1,042,639,000	1,064,255,000
Short-term debt	106,000,000	69,000,000
Long-term debt	66,215,000	67,421,000
Accrued interest payable (included in other liabilities)	1,325,000	1,072,000
Estimated Fair Value | Commitments to extend credit
Deposits:
Off-balance sheet financial instruments	984,000	1,014,000
Estimated Fair Value | Standby letters of credit and financial guarantees written
Deposits:
Off-balance sheet financial instruments	230,000	202,000
Estimated Fair Value | Interest rate lock commitments
Deposits:
Off-balance sheet financial instruments	87,000	43,000
Estimated Fair Value | Forward sale commitments
Deposits:
Off-balance sheet financial instruments	(107,000)	15,000
Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial assets
Cash and due from banks	85,495,000	71,797,000
Interest-bearing deposits in other banks	7,180,000	8,397,000
Investment securities	722,000	916,000
Loans held for sale	0	0
Net loans and leases	0	0
Accrued interest receivable	14,818,000	14,898,000
Deposits:
Noninterest-bearing deposits	1,140,741,000	1,145,244,000
Interest-bearing demand and savings deposits	2,315,404,000	2,223,988,000
Time deposits	0	0
Short-term debt	0	0
Long-term debt	0	0
Accrued interest payable (included in other liabilities)	1,325,000	1,072,000
Quoted Prices in Active Markets for Identical Assets (Level 1) | Commitments to extend credit
Deposits:
Off-balance sheet financial instruments	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Standby letters of credit and financial guarantees written
Deposits:
Off-balance sheet financial instruments	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest rate lock commitments
Deposits:
Off-balance sheet financial instruments	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Forward sale commitments
Deposits:
Off-balance sheet financial instruments	0	0
Significant Other Observable Inputs (Level 2)
Financial assets
Cash and due from banks	0	0
Interest-bearing deposits in other banks	0	0
Investment securities	1,528,871,000	1,502,996,000
Loans held for sale	0	0
Net loans and leases	38,364,000	38,205,000
Accrued interest receivable	0	0
Deposits:
Noninterest-bearing deposits	0	0
Interest-bearing demand and savings deposits	0	0
Time deposits	0	0
Short-term debt	106,000,000	69,000,000
Long-term debt	66,215,000	67,421,000
Accrued interest payable (included in other liabilities)	0	0
Significant Other Observable Inputs (Level 2) | Commitments to extend credit
Deposits:
Off-balance sheet financial instruments	984,000	1,014,000
Significant Other Observable Inputs (Level 2) | Standby letters of credit and financial guarantees written
Deposits:
Off-balance sheet financial instruments	230,000	202,000
Significant Other Observable Inputs (Level 2) | Interest rate lock commitments
Deposits:
Off-balance sheet financial instruments	87,000	43,000
Significant Other Observable Inputs (Level 2) | Forward sale commitments
Deposits:
Off-balance sheet financial instruments	(107,000)	15,000
Significant Unobservable Inputs (Level 3)
Financial assets
Cash and due from banks	0	0
Interest-bearing deposits in other banks	0	0
Investment securities	12,655,000	12,479,000
Loans held for sale	11,270,000	14,109,000
Net loans and leases	3,189,618,000	3,056,199,000
Accrued interest receivable	0	0
Deposits:
Noninterest-bearing deposits	0	0
Interest-bearing demand and savings deposits	0	0
Time deposits	1,042,639,000	1,064,255,000
Short-term debt	0	0
Long-term debt	0	0
Accrued interest payable (included in other liabilities)	0	0
Significant Unobservable Inputs (Level 3) | Commitments to extend credit
Deposits:
Off-balance sheet financial instruments	0	0
Significant Unobservable Inputs (Level 3) | Standby letters of credit and financial guarantees written
Deposits:
Off-balance sheet financial instruments	0	0
Significant Unobservable Inputs (Level 3) | Interest rate lock commitments
Deposits:
Off-balance sheet financial instruments	0	0
Significant Unobservable Inputs (Level 3) | Forward sale commitments
Deposits:
Off-balance sheet financial instruments	$ 0	$ 0

FAIR VALUE OF FINANCIAL ASSET66

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets and liabilities measured at fair value
Available-for-sale, at fair value	$ 1,299,176	$ 1,272,255
States and political subdivisions
Assets and liabilities measured at fair value
Available-for-sale, at fair value	191,802	190,473
Corporate securities
Assets and liabilities measured at fair value
Available-for-sale, at fair value	109,796	108,571
Residential - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale, at fair value	791,646	771,909
Residential - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale, at fair value	64,240	64,032
Commercial - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale, at fair value	140,970	136,354
Other
Assets and liabilities measured at fair value
Available-for-sale, at fair value	722	916
Recurring basis
Assets and liabilities measured at fair value
Available-for-sale, at fair value	1,299,176	1,272,255
Total	1,299,156	1,272,314
Recurring basis | Derivative - Interest Rate Contracts
Assets and liabilities measured at fair value
Derivatives - Interest rate lock and forward sale commitments	(20)	59
Recurring basis | States and political subdivisions
Assets and liabilities measured at fair value
Available-for-sale, at fair value	191,802	190,473
Recurring basis | Corporate securities
Assets and liabilities measured at fair value
Available-for-sale, at fair value	109,796	108,571
Recurring basis | Residential - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale, at fair value	791,646	771,909
Recurring basis | Residential - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale, at fair value	64,240	64,032
Recurring basis | Commercial - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale, at fair value	140,970	136,354
Recurring basis | Other
Assets and liabilities measured at fair value
Available-for-sale, at fair value	722	916
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets and liabilities measured at fair value
Available-for-sale, at fair value	722	916
Total	722	916
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Derivative - Interest Rate Contracts
Assets and liabilities measured at fair value
Derivatives - Interest rate lock and forward sale commitments	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | States and political subdivisions
Assets and liabilities measured at fair value
Available-for-sale, at fair value	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate securities
Assets and liabilities measured at fair value
Available-for-sale, at fair value	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Residential - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale, at fair value	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Residential - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale, at fair value	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale, at fair value	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other
Assets and liabilities measured at fair value
Available-for-sale, at fair value	722	916
Recurring basis | Significant Other Observable Inputs (Level 2)
Assets and liabilities measured at fair value
Available-for-sale, at fair value	1,285,799	1,258,860
Total	1,285,779	1,258,919
Recurring basis | Significant Other Observable Inputs (Level 2) | Derivative - Interest Rate Contracts
Assets and liabilities measured at fair value
Derivatives - Interest rate lock and forward sale commitments	(20)	59
Recurring basis | Significant Other Observable Inputs (Level 2) | States and political subdivisions
Assets and liabilities measured at fair value
Available-for-sale, at fair value	179,147	177,994
Recurring basis | Significant Other Observable Inputs (Level 2) | Corporate securities
Assets and liabilities measured at fair value
Available-for-sale, at fair value	109,796	108,571
Recurring basis | Significant Other Observable Inputs (Level 2) | Residential - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale, at fair value	791,646	771,909
Recurring basis | Significant Other Observable Inputs (Level 2) | Residential - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale, at fair value	64,240	64,032
Recurring basis | Significant Other Observable Inputs (Level 2) | Commercial - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale, at fair value	140,970	136,354
Recurring basis | Significant Other Observable Inputs (Level 2) | Other
Assets and liabilities measured at fair value
Available-for-sale, at fair value	0	0
Recurring basis | Significant Unobservable Inputs (Level 3)
Assets and liabilities measured at fair value
Available-for-sale, at fair value	12,655	12,479
Total	12,655	12,479
Recurring basis | Significant Unobservable Inputs (Level 3) | Derivative - Interest Rate Contracts
Assets and liabilities measured at fair value
Derivatives - Interest rate lock and forward sale commitments	0	0
Recurring basis | Significant Unobservable Inputs (Level 3) | States and political subdivisions
Assets and liabilities measured at fair value
Available-for-sale, at fair value	12,655	12,479
Recurring basis | Significant Unobservable Inputs (Level 3) | Corporate securities
Assets and liabilities measured at fair value
Available-for-sale, at fair value	0	0
Recurring basis | Significant Unobservable Inputs (Level 3) | Residential - U.S. Government-sponsored entities
Assets and liabilities measured at fair value
Available-for-sale, at fair value	0	0
Recurring basis | Significant Unobservable Inputs (Level 3) | Residential - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale, at fair value	0	0
Recurring basis | Significant Unobservable Inputs (Level 3) | Commercial - Non-government agencies
Assets and liabilities measured at fair value
Available-for-sale, at fair value	0	0
Recurring basis | Significant Unobservable Inputs (Level 3) | Other
Assets and liabilities measured at fair value
Available-for-sale, at fair value	$ 0	$ 0

FAIR VALUE OF FINANCIAL ASSET67

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Change in Level 3 Assets and Liabilities) (Details 3) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)security	Mar. 31, 2015USD ($)
States and political subdivisions
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	$ 12,479	$ 13,095
Principal payments received	(83)	(735)
Unrealized net gain included in other comprehensive income	259	287
Mortgage revenue bonds
Changes in Level 3 assets and liabilities measured at fair value on a recurring basis
Aggregate fair value / Balance at the end of the period	$ 12,655	$ 12,647
Additional disclosures
Number of investment securities held | security	4
Mortgage revenue bonds | Weighted average
Additional disclosures
Discount rate (as a percent)	3.73%

FAIR VALUE OF FINANCIAL ASSET68

FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Assets and Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets measured at fair value on a nonrecurring basis
Other real estate owned	$ 1,260	$ 1,962
Nonrecurring basis
Assets measured at fair value on a nonrecurring basis
Impaired loans	37,818	38,153
Other real estate owned	1,260	1,962
Quoted Prices in Active Markets for Identical Assets (Level 1) | Nonrecurring basis
Assets measured at fair value on a nonrecurring basis
Impaired loans	0	0
Other real estate owned	0	0
Significant Other Observable Inputs (Level 2) | Nonrecurring basis
Assets measured at fair value on a nonrecurring basis
Impaired loans	37,818	38,153
Other real estate owned	1,260	1,962
Significant Unobservable Inputs (Level 3) | Nonrecurring basis
Assets measured at fair value on a nonrecurring basis
Impaired loans	0	0
Other real estate owned	$ 0	$ 0

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)segment	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	3
SEGMENT INFORMATION
Net interest income (expense)	$ 39,211	$ 36,235
Provision (credit) for loan and lease losses	(747)	(2,747)
Other operating income	10,165	11,190
Other operating expense	(32,875)	(34,018)
Income before income taxes	17,248	16,154
Income tax (expenses) benefit	(6,067)	(5,759)
Net income	11,181	10,395
Investment securities	1,540,773		$ 1,520,172
Total Assets	5,242,202		5,131,288
Banking Operations
SEGMENT INFORMATION
Net income	14,012	13,273
Total Assets	3,379,187		3,300,604
Treasury
SEGMENT INFORMATION
Net income	910	(36)
Total Assets	1,776,571		1,746,344
All Others
SEGMENT INFORMATION
Net income	(3,741)	(2,842)
Total Assets	86,444		84,340
Intersegment elimination
SEGMENT INFORMATION
Net interest income (expense)	0	0
Intersegment elimination | Banking Operations
SEGMENT INFORMATION
Net interest income (expense)	10,558	10,302
Intersegment elimination | Treasury
SEGMENT INFORMATION
Net interest income (expense)	(7,017)	(8,698)
Intersegment elimination | All Others
SEGMENT INFORMATION
Net interest income (expense)	(3,541)	(1,604)
Operating segments
SEGMENT INFORMATION
Net interest income (expense)	39,211	36,235
Provision (credit) for loan and lease losses	747	2,747
Other operating income	10,165	11,190
Other operating expense	(32,875)	(34,018)
Administrative and overhead expense allocation	0	0
Income before income taxes	17,248	16,154
Income tax (expenses) benefit	(6,067)	(5,759)
Investment securities	1,540,773		1,520,172
Loans and leases (including loans held for sale)	3,320,238		3,225,641
Other	381,191		385,475
Operating segments | Banking Operations
SEGMENT INFORMATION
Net interest income (expense)	30,951	27,854
Provision (credit) for loan and lease losses	747	2,747
Other operating income	5,534	6,446
Other operating expense	(14,743)	(14,824)
Administrative and overhead expense allocation	(11,432)	(12,104)
Income before income taxes	21,615	20,421
Income tax (expenses) benefit	(7,603)	(7,148)
Investment securities	0		0
Loans and leases (including loans held for sale)	3,320,238		3,225,641
Other	58,949		74,963
Operating segments | Treasury
SEGMENT INFORMATION
Net interest income (expense)	8,260	8,381
Provision (credit) for loan and lease losses	0	0
Other operating income	745	1,027
Other operating expense	(388)	(478)
Administrative and overhead expense allocation	(196)	(288)
Income before income taxes	1,404	(56)
Income tax (expenses) benefit	(494)	20
Investment securities	1,540,773		1,520,172
Loans and leases (including loans held for sale)	0		0
Other	235,798		226,172
Operating segments | All Others
SEGMENT INFORMATION
Net interest income (expense)	0	0
Provision (credit) for loan and lease losses	0	0
Other operating income	3,886	3,717
Other operating expense	(17,744)	(18,716)
Administrative and overhead expense allocation	11,628	12,392
Income before income taxes	(5,771)	(4,211)
Income tax (expenses) benefit	2,030	$ 1,369
Investment securities	0		0
Loans and leases (including loans held for sale)	0		0
Other	$ 86,444		$ 84,340