Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Jun. 30, 2013 | Feb. 14, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'CATHAY GENERAL BANCORP | ' | ' |
Document Type | '10-K | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | ' | 79,589,933 |
Entity Public Float | ' | $1,468,916,500 | ' |
Amendment Flag | 'false | ' | ' |
Entity Central Index Key | '0000861842 | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $153,747 | $144,909 |
Short-term investments and interest bearing deposits | 516,938 | 411,983 |
Securities held-to-maturity (market value of $823,906 in 2012 | ' | 773,768 |
Securities available-for-sale (amortized cost of $1,637,965 in 2013 and $1,290,676 in 2012) | 1,586,668 | 1,291,480 |
Trading securities | 4,936 | 4,703 |
Loans | 8,084,563 | 7,429,147 |
Less: Allowance for loan losses | -173,889 | -183,322 |
Unamortized deferred loan fees, net | -13,487 | -10,238 |
Loans, net | 7,897,187 | 7,235,587 |
Federal Home Loan Bank stock | 25,000 | 41,272 |
Other real estate owned, net | 52,985 | 46,384 |
Affordable housing investments, net | 84,108 | 85,037 |
Premises and equipment, net | 102,045 | 102,613 |
Customers’ liability on acceptances | 32,194 | 41,271 |
Accrued interest receivable | 24,274 | 26,015 |
Goodwill | 316,340 | 316,340 |
Other intangible assets, net | 2,230 | 6,132 |
Other assets | 190,634 | 166,595 |
Total assets | 10,989,286 | 10,694,089 |
Deposits | ' | ' |
Non-interest-bearing demand deposits | 1,441,858 | 1,269,455 |
Interest-bearing deposits: | ' | ' |
NOW deposits | 683,873 | 593,133 |
Money market deposits | 1,286,338 | 1,186,771 |
Savings deposits | 499,520 | 473,805 |
Time deposits under $100,000 | 931,204 | 644,191 |
Time deposits of $100,000 or more | 3,138,512 | 3,215,870 |
Total deposits | 7,981,305 | 7,383,225 |
Securities sold under agreements to repurchase | 800,000 | 1,250,000 |
Advances from the Federal Home Loan Bank | 521,200 | 146,200 |
Other borrowings for affordable housing investments | 19,062 | 18,713 |
Long-term debt | 121,136 | 171,136 |
Acceptances outstanding | 32,194 | 41,271 |
Other liabilities | 55,418 | 54,040 |
Total liabilities | 9,530,315 | 9,064,585 |
Commitments and contingencies | 0 | 0 |
Stockholders’ Equity | ' | ' |
Preferred stock, 10,000,000 shares authorized, none issued and outstanding at December 31, 2013, 258,000 issued and outstanding in 2012 | ' | 254,580 |
Common stock, $0.01 par value, 100,000,000 shares authorized, 83,797,434 issued and 79,589,869 outstanding at December 31, 2013, and 82,985,853 issued and 78,778,288 outstanding at December 31, 2012 | 838 | 830 |
Additional paid-in-capital | 784,489 | 768,925 |
Accumulated other comprehensive income/(loss), net | -29,729 | 465 |
Retained earnings | 829,109 | 721,993 |
Treasury stock, at cost (4,207,565 shares at December 31, 2013, and at December 31, 2012) | -125,736 | -125,736 |
Total Cathay General Bancorp stockholders' equity | 1,458,971 | 1,621,057 |
Noncontrolling interest | ' | 8,447 |
Total equity | 1,458,971 | 1,629,504 |
Total liabilities and equity | $10,989,286 | $10,694,089 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Market value on securities held-to-maturity (in Dollars) | ' | $823,906 |
Amortized cost on securities available-for-sale (in Dollars) | $1,637,965 | $1,290,676 |
Preferred stock shares authorized | 10,000,000 | 10,000,000 |
Preferred stock shares issued | ' | 258,000 |
Preferred stock shares outstanding | ' | 258,000 |
Common stock par value (in Dollars per share) | $0.01 | $0.01 |
Common stock shares authorized | 100,000,000 | 100,000,000 |
Common stock shares issued | 83,797,434 | 82,985,853 |
Common stock shares outstanding | 79,589,869 | 78,778,288 |
Treasury stock shares | 4,207,565 | 4,207,565 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations and Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
INTEREST AND DIVIDEND INCOME | ' | ' | ' |
Loan receivable | $359,959 | $360,643 | $364,580 |
Investment securities- taxable | 43,412 | 62,395 | 83,083 |
Investment securities- nontaxable | 995 | 4,161 | 4,218 |
Federal Home Loan Bank stock | 1,480 | 485 | 177 |
Federal funds sold and securities purchased under agreement to resell | ' | 18 | 83 |
Deposits with banks | 1,150 | 2,042 | 1,430 |
Total interest and dividend income | 406,996 | 429,744 | 453,571 |
INTEREST EXPENSE | ' | ' | ' |
Time deposits of $100,000 or more | 27,211 | 33,441 | 42,204 |
Other deposits | 13,178 | 13,932 | 20,010 |
Interest on securities sold under agreements to repurchase | 37,692 | 55,699 | 60,733 |
Advances from the Federal Home Loan Bank | 528 | 270 | 12,033 |
Long-term debt | 3,691 | 5,149 | 4,890 |
Short-term borrowings | ' | ' | 11 |
Total interest expense | 82,300 | 108,491 | 139,881 |
Net interest income before provision for credit losses | 324,696 | 321,253 | 313,690 |
(Reversal)/provision for credit losses | -3,000 | -9,000 | 27,000 |
Net interest income after provision for credit losses | 327,696 | 330,253 | 286,690 |
NON-INTEREST INCOME | ' | ' | ' |
Securities gains, net | 27,362 | 18,026 | 21,131 |
Letters of credit commissions | 6,281 | 6,316 | 5,644 |
Depository service fees | 5,701 | 5,453 | 5,420 |
Other operating income | 20,963 | 16,712 | 18,697 |
Total non-interest income | 60,307 | 46,507 | 50,892 |
NON-INTEREST EXPENSE | ' | ' | ' |
Salaries and employee benefits | 88,276 | 78,377 | 71,849 |
Occupancy expense | 14,846 | 14,608 | 14,225 |
Computer and equipment expense | 9,768 | 9,591 | 8,508 |
Professional services expense | 24,574 | 21,768 | 20,209 |
FDIC and State assessments | 7,351 | 8,339 | 12,494 |
Marketing expense | 3,403 | 4,607 | 3,175 |
Other real estate owned (income)/expense | -235 | 15,116 | 10,583 |
Operations of investments in affordable housing | 7,253 | 6,306 | 8,153 |
Amortization of core deposit premium | 4,533 | 5,663 | 5,859 |
Cost associated with debt redemption | 22,557 | 12,120 | 20,231 |
Other operating expense | 11,507 | 16,094 | 10,280 |
Total non-interest expense | 193,833 | 192,589 | 185,566 |
Income before income tax expense | 194,170 | 184,171 | 152,016 |
Income tax expense | 70,435 | 66,128 | 51,261 |
Net income | 123,735 | 118,043 | 100,755 |
Less: net income attributable to noncontrolling interest | 592 | 605 | 605 |
Net income attributable to Cathay General Bancorp | 123,143 | 117,438 | 100,150 |
Dividends on preferred stock | -9,685 | -16,488 | -16,437 |
Net income attributable to common stockholders | 113,458 | 100,950 | 83,713 |
Other comprehensive (loss)/income, net of tax: | ' | ' | ' |
Unrealized holding (losses)/gains arising during the year | -14,335 | 19,645 | 4,538 |
Less: reclassification adjustment for gains included in net income | 15,859 | 10,448 | 12,248 |
Total other comprehensive (loss)/income, net of tax | -30,194 | 9,197 | -7,710 |
Total comprehensive income | $92,949 | $126,635 | $92,440 |
Net income attributable to common stockholders per common share | ' | ' | ' |
Basic (in Dollars per share) | $1.44 | $1.28 | $1.06 |
Diluted (in Dollars per share) | $1.43 | $1.28 | $1.06 |
Basic average common shares outstanding (in Shares) | 78,954,898 | 78,719,133 | 78,633,317 |
Diluted average common shares outstanding (in Shares) | 79,137,983 | 78,723,297 | 78,640,652 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Preferred Stock [Member] | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Noncontrolling Interest [Member] | Parent [Member] | Parent [Member] | Series B Preferred Stock [Member] | Total |
Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | |||||||||||
Balance at Dec. 31, 2010 | ' | $247,455,000 | $827,000 | ' | $762,509,000 | ($1,022,000) | $543,625,000 | ($125,736,000) | $8,447,000 | ' | $1,436,105,000 | ' | ' |
Balance (in Shares) at Dec. 31, 2010 | ' | 258,000 | 78,531,783 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend Reinvestment Plan | ' | ' | 1,000 | ' | 286,000 | ' | ' | ' | ' | ' | 287,000 | ' | 287,000 |
Dividend Reinvestment Plan (in Shares) | ' | ' | 21,281 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,281 |
Restricted stock units vested (in Shares) | ' | ' | 12,633 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options exercised | ' | ' | 1,000 | ' | 1,306,000 | ' | ' | ' | ' | ' | 1,307,000 | ' | ' |
Stock options exercised (in Shares) | ' | ' | 86,860 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 86,860 |
Tax effect from stock options | ' | ' | ' | ' | -218,000 | ' | ' | ' | ' | ' | -218,000 | ' | ' |
Stock -based compensation | ' | ' | ' | ' | 1,758,000 | ' | ' | ' | ' | ' | 1,758,000 | ' | 1,758,000 |
Cash dividends | ' | ' | ' | ' | ' | ' | -3,146,000 | ' | ' | ' | -3,146,000 | ' | ' |
Discount accretion and other adjustment on preferred stock | ' | 3,537,000 | ' | ' | ' | ' | -3,537,000 | ' | ' | ' | ' | ' | ' |
Dividends on preferred stock | ' | ' | ' | ' | ' | ' | -12,900,000 | ' | -605,000 | ' | -13,505,000 | ' | 16,437,000 |
Change in other comprehensive loss | ' | ' | ' | ' | ' | -7,710,000 | ' | ' | ' | ' | -7,710,000 | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | 100,150,000 | ' | 605,000 | ' | 100,755,000 | ' | 100,150,000 |
Balance at Dec. 31, 2011 | ' | 250,992,000 | 829,000 | ' | 765,641,000 | -8,732,000 | 624,192,000 | -125,736,000 | 8,447,000 | ' | 1,515,633,000 | ' | ' |
Balance (in Shares) at Dec. 31, 2011 | ' | 258,000 | 78,652,557 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend Reinvestment Plan | ' | ' | ' | ' | 291,000 | ' | ' | ' | ' | ' | 291,000 | ' | 291,000 |
Dividend Reinvestment Plan (in Shares) | ' | ' | 17,956 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,956 |
Restricted stock units vested (in Shares) | ' | ' | 11,814 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock salary | ' | ' | ' | ' | 788,000 | ' | ' | ' | ' | ' | 788,000 | ' | ' |
Stock salary (in Shares) | ' | ' | 45,937 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options exercised | ' | ' | 1,000 | ' | 763,000 | ' | ' | ' | ' | ' | 764,000 | ' | ' |
Stock options exercised (in Shares) | ' | ' | 50,024 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,024 |
Tax effect from stock options | ' | ' | ' | ' | -620,000 | ' | ' | ' | ' | ' | -620,000 | ' | ' |
Stock -based compensation | ' | ' | ' | ' | 2,062,000 | ' | ' | ' | ' | ' | 2,062,000 | ' | 2,850,000 |
Cash dividends | ' | ' | ' | ' | ' | ' | -3,149,000 | ' | ' | ' | -3,149,000 | ' | ' |
Discount accretion and other adjustment on preferred stock | ' | 3,588,000 | ' | ' | ' | ' | -3,588,000 | ' | ' | ' | ' | ' | ' |
Dividends on preferred stock | ' | ' | ' | ' | ' | ' | -12,900,000 | ' | -605,000 | ' | -13,505,000 | ' | 16,488,000 |
Change in other comprehensive loss | ' | ' | ' | ' | ' | 9,197,000 | ' | ' | ' | ' | 9,197,000 | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | 117,438,000 | ' | 605,000 | ' | 118,043,000 | ' | 117,438,000 |
Balance at Dec. 31, 2012 | ' | 254,580,000 | 830,000 | ' | 768,925,000 | 465,000 | 721,993,000 | -125,736,000 | 8,447,000 | ' | 1,629,504,000 | ' | 1,621,057,000 |
Balance (in Shares) at Dec. 31, 2012 | ' | 258,000 | 78,778,288 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend Reinvestment Plan | ' | ' | ' | ' | 605,000 | ' | ' | ' | ' | ' | 605,000 | ' | 605,000 |
Dividend Reinvestment Plan (in Shares) | ' | ' | 25,984 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,984 |
Redemption of Series B Preferred Stock | -258,000,000 | ' | ' | -302,000 | ' | ' | ' | ' | ' | -258,302,000 | ' | -258,000,000 | ' |
Redemption of Series B Preferred Stock (in Shares) | -258,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption of noncontrolling interest | ' | ' | ' | ' | -191,000 | ' | ' | ' | -8,447,000 | ' | -8,638,000 | ' | ' |
Restricted stock units vested (in Shares) | ' | ' | 138,220 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock units vested | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' |
Stock salary | ' | ' | 1,000 | ' | 1,106,000 | ' | ' | ' | ' | ' | 1,107,000 | ' | ' |
Stock salary (in Shares) | ' | ' | 52,431 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options exercised | ' | ' | 6,000 | ' | 14,749,000 | ' | ' | ' | ' | ' | 14,755,000 | ' | ' |
Stock options exercised (in Shares) | ' | ' | 594,946 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 594,946 |
Tax effect from stock options | ' | ' | ' | ' | -2,509,000 | ' | ' | ' | ' | ' | -2,509,000 | ' | ' |
Stock -based compensation | ' | ' | ' | ' | 2,106,000 | ' | ' | ' | ' | ' | 2,106,000 | ' | 3,213,000 |
Cash dividends | ' | ' | ' | ' | ' | ' | -6,342,000 | ' | ' | ' | -6,342,000 | ' | ' |
Discount accretion and other adjustment on preferred stock | ' | 3,420,000 | ' | ' | ' | ' | -3,420,000 | ' | ' | ' | ' | ' | ' |
Dividends on preferred stock | ' | ' | ' | ' | ' | ' | -6,265,000 | ' | -592,000 | ' | -6,857,000 | ' | 9,685,000 |
Change in other comprehensive loss | ' | ' | ' | ' | ' | -30,194,000 | ' | ' | ' | ' | -30,194,000 | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | 123,143,000 | ' | 592,000 | ' | 123,735,000 | ' | 123,143,000 |
Balance at Dec. 31, 2013 | ' | ' | $838,000 | ' | $784,489,000 | ($29,729,000) | $829,109,000 | ($125,736,000) | ' | ' | $1,458,971,000 | ' | $1,458,971,000 |
Balance (in Shares) at Dec. 31, 2013 | ' | ' | 79,589,869 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Additional Paid-in Capital [Member] | ' | ' | ' |
Cash dividends per share | $0.08 | $0.04 | $0.04 |
Parent [Member] | ' | ' | ' |
Cash dividends per share | $0.08 | $0.04 | $0.04 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash Flows from Operating Activities | ' | ' | ' |
Net income | $123,735 | $118,043 | $100,755 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
(Reversal)/Provision for credit losses | -3,000 | -9,000 | 27,000 |
(Reversal)/Provision for losses on other real estate owned | -2,122 | 10,668 | 10,385 |
Deferred tax (benefit)/liability | -15,114 | 4,784 | 13,808 |
Depreciation | 6,690 | 5,939 | 6,079 |
Net gains on sale and transfers of other real estate owned | -1,793 | -369 | -5,243 |
Net gains on sale of loans | -879 | -633 | -3,354 |
Net gains on sale of loans held for sale | ' | ' | -88 |
Proceeds from sale of loans | 42,573 | 59,589 | 46,377 |
Originations of loans held for sale | -41,694 | -58,930 | -14,027 |
Decrease in unrealized loss from interest rate swaps | ' | -2,634 | -3,874 |
Purchase of trading securities | -234 | -163 | -745 |
Write-down on venture capital and other investments | 409 | 309 | 379 |
Write-down on impaired securities | ' | 181 | 200 |
Gain on sales and calls of securities | -27,362 | -18,025 | -21,131 |
Other non-cash interest expense/(income) | 1,100 | -200 | -480 |
Amortization of security premiums, net | 4,425 | 5,306 | 4,233 |
Amortization of other intangible assets | 4,657 | 5,798 | 5,965 |
Excess tax short-fall from stock options | 2,509 | 620 | 290 |
Stock based and stock issued to officers compensation expense | 3,213 | 2,850 | 1,758 |
Noncontrolling interest | -592 | -605 | -605 |
Net change in accrued interest receivable and other assets | 23,525 | 43,304 | 2,622 |
Net change in other liabilities | -4,973 | -2,256 | 3,746 |
Net cash provided by operating activities | 115,073 | 164,576 | 174,050 |
Cash Flows from Investing Activities | ' | ' | ' |
Increase in short-term investments | -104,955 | -117,027 | -88,634 |
Decrease in securities purchased under agreements to resell | ' | ' | 110,000 |
Purchase of investment securities available-for-sale | -350,130 | -517,513 | -571,093 |
Proceeds from maturity and call of investment securities available-for-sale | 180,088 | 552,099 | 435,000 |
Proceeds from sale of investment securities available-for-sale | 575,358 | 60,951 | 524,958 |
Purchase of mortgage-backed securities available-for-sale | -676,529 | -680,388 | -541,356 |
Proceeds from repayment and sale of mortgage-backed securities available-for-sale | 669,658 | 619,169 | 868,023 |
Purchase of mortgage-backed securities held-to-maturity | ' | ' | -480,083 |
Proceeds from maturity and call of investment securities held-to-maturity | 50,973 | 376,981 | 163,855 |
Redemption of Federal Home Loan Bank stock | 16,272 | 11,717 | 10,884 |
Net increase in loans | -676,245 | -395,743 | -362,054 |
Purchase of premises and equipment | -6,182 | -3,108 | -2,888 |
Proceeds from sales of other real estate owned | 19,411 | 47,866 | 61,406 |
Net increase in investment in affordable housing | -9,525 | -1,540 | -968 |
Net cash (used in)/provided by investing activities | -311,806 | -46,536 | 127,050 |
Cash Flows from Financing Activities | ' | ' | ' |
Net change in deposits | 596,964 | 154,275 | 237,768 |
Net decrease in federal funds purchased and securities sold under agreements to repurchase | -450,000 | -150,000 | -161,000 |
Advances from Federal Home Loan Bank | 2,402,000 | 531,200 | 4,734,000 |
Repayment of Federal Home Loan Bank borrowings | -2,027,000 | -610,000 | -5,059,000 |
Cash dividends | -12,606 | -16,049 | -16,046 |
Redemption of noncontrolling interest | -8,638 | ' | ' |
Repayment of subordinated debt | -50,000 | ' | ' |
Repayment of other borrowings | ' | -880 | -7,584 |
Proceeds from shares issued to Dividend Reinvestment Plan | 605 | 291 | 287 |
Proceeds from exercise of stock options | 14,755 | 764 | 1,306 |
Excess tax short-fall from share-based payment arrangements | -2,509 | -620 | -290 |
Net cash provided by/(used in) financing activities | 205,571 | -91,019 | -270,559 |
Increase in cash and cash equivalents | 8,838 | 27,021 | 30,541 |
Cash and cash equivalents, beginning of the year | 144,909 | 117,888 | 87,347 |
Cash and cash equivalents, end of the year | 153,747 | 144,909 | 117,888 |
Cash paid during the year for: | ' | ' | ' |
Interest | 84,848 | 112,411 | 142,644 |
Income taxes | 55,521 | 36,083 | 53,148 |
Non-cash investing and financing activities: | ' | ' | ' |
Net change in unrealized holding (loss)/gain on securities available-for-sale, net of tax | -30,194 | 9,197 | -7,710 |
Transfers to other real estate owned from loans held for investment | 22,171 | 14,389 | 83,941 |
Transfers to other real estate owned from loans held for sale | ' | ' | 2,874 |
Loans transferred to loans held for sale | ' | 15,986 | 4,399 |
Loans transferred to loans held for investment from held for sale | ' | 500 | ' |
Loans to facilitate the sale of other real estate owned | 75 | 1,785 | 7,472 |
Loans to facilitate the sale of loans | ' | ' | 6,094 |
Series B Preferred Stock [Member] | ' | ' | ' |
Cash Flows from Financing Activities | ' | ' | ' |
Redemption of Series B preferred stock | -258,000 | ' | ' |
Available-for-sale Securities [Member] | ' | ' | ' |
Non-cash investing and financing activities: | ' | ' | ' |
Transfers to investment securities available-for-sale at fair value | $722,466 | ' | ' |
Note_1_Summary_of_Significant_
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Accounting Policies [Abstract] | ' | |||||
Significant Accounting Policies [Text Block] | ' | |||||
1. Summary of Significant Accounting Policies | ||||||
The accompanying Consolidated Financial Statements include the accounts of Cathay General Bancorp (the “Bancorp”), a Delaware corporation, its wholly-owned subsidiaries, Cathay Bank (the “Bank”), a California state-chartered bank, six limited partnerships investing in affordable housing projects, and GBC Venture Capital, Inc. (together, the “Company”). All significant inter-company transactions and balances have been eliminated in consolidation. The Consolidated Financial Statements of the Company are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and general practices within the banking industry. | ||||||
Organization and Background. The business activities of the Bancorp consist primarily of the operations of the Bank, which owns 100% of the common securities of the following subsidiaries: Cathay Real Estate Investment Trust, GBC Real Estate Investments, Inc., Cathay Holdings LLC, Cathay Holdings 2, LLC, Cathay Holdings 3, LLC, Cathay Community Development Corporation and its wholly owned subsidiary, Cathay New Asia Community Development Corporation. The Bank dissolved Cathay Real Estate Investment Trust on December 23, 2013. | ||||||
There are limited operating business activities currently at the Bancorp. The Bank is a commercial bank, servicing primarily the individuals, professionals, and small to medium-sized businesses in the local markets in which its branches are located. Its operations include the acceptance of checking, savings, and time deposits, and the making of commercial, real estate, and consumer loans. The Bank also offers trade financing, letters of credit, wire transfer, foreign currency spot and forward contracts, Internet banking, investment services, and other customary banking services to its customers. | ||||||
Use of Estimates. The preparation of the Consolidated Financial Statements in accordance with GAAP requires management of the Company to make a number of estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. The significant estimates subject to change relate to the allowance for loan losses, goodwill impairment assessment, other-than-temporary impairment analysis on investments, fair value disclosures, and the fair value of options granted. The more significant of these policies are described below. | ||||||
Concentrations. The Bank was incorporated in California and started its business from California. Therefore, loans originated and deposits solicited were mainly from California. As of December 31, 2013, gross loans were primarily comprised of 49.8% of commercial mortgage loans and 28.4% of commercial loans. As of December 31, 2013, approximately 59% of the Bank’s residential mortgages were for properties located in California. Total deposits were comprised of 39.3% of time deposit of $100,000 or more (Jumbo CDs) at December 31, 2013, and approximately 67.7% of the Company’s Jumbo CDs have been on deposit with the Company for two years or more. | ||||||
Allowance for Loan Losses. The determination of the amount of the provision for loan losses charged to operations reflects management’s current judgment about the credit quality of the loan portfolio and takes into consideration changes in lending policies and procedures, changes in economic and business conditions, changes in the nature and volume of the portfolio and in the terms of loans, changes in the experience, ability and depth of lending management, changes in the volume and severity of past due, non-accrual and adversely classified or graded loans, changes in the quality of the loan review system, changes in the value of underlying collateral for collateral-dependent loans, the existence and effect of any concentrations of credit and the effect of competition, legal and regulatory requirements, and other external factors. The nature of the process by which loan losses is determined and the appropriate allowance for loan losses requires the exercise of considerable judgment. The allowance is increased by the provision for loan losses and decreased by charge-offs when management believes the uncollectibility of a loan is confirmed. | ||||||
Subsequent recoveries, if any, are credited to the allowance. A weakening of the economy or other factors that adversely affect asset quality could result in an increase in the number of delinquencies, bankruptcies, or defaults, and a higher level of non-performing assets, net charge-offs, and provision for loan losses in future periods. | ||||||
The total allowance for loan losses consists of two components: specific allowances and general allowances. To determine the adequacy of the allowance in each of these two components, two primary methodologies are employed, the individual loan review analysis methodology and the classification migration methodology. These methodologies support the basis for determining allocations between the various loan categories and the overall adequacy of our allowance to provide for probable losses inherent in the loan portfolio. These methodologies are further supported by additional analysis of relevant factors such as the historical losses in the portfolio, and environmental factors which include trends in delinquency and non-accrual, and other significant factors, such as the national and local economy, the volume and composition of the portfolio, strength of management and loan staff, underwriting standards, and the concentration of credit. | ||||||
The Bank’s management allocates a specific allowance for “Impaired Credits,” in accordance with Accounting Standard Codification (“ASC”) Section 310-10-35. For non-Impaired Credits, a general allowance is established for those loans internally classified and risk graded Pass, Minimally Acceptable, Special Mention, or Substandard based on historical losses in the specific loan portfolio and a reserve based on environmental factors determined for that loan group. The level of the general allowance is established to provide coverage for management’s estimate of the credit risk in the loan portfolio by various loan segments not covered by the specific allowance. | ||||||
Securities Purchased Under Agreements to Resell. The Company purchases securities under agreements to resell with various terms. These agreements are collateralized by agency securities and mortgage backed securities that are generally held by a third party custodian. The purchases are over-collateralized to ensure against unfavorable market price movements. In the event that the fair market value of the securities decreases below the collateral requirements under the related repurchase agreements, the counterparty is required to deliver additional securities. The counterparties to these agreements are nationally recognized investment banking firms that meet credit eligibility criteria and with whom a master repurchase agreement has been duly executed. | ||||||
Securities. Securities are classified as held-to-maturity when management has the ability and intent to hold these securities until maturity. Securities are classified as available-for-sale when management intends to hold the securities for an indefinite period of time, or when the securities may be utilized for tactical asset/liability purposes, and may be sold from time to time to manage interest rate exposure and resultant prepayment risk and liquidity needs. Securities are classified as trading securities when management intends to sell the securities in the near term. Securities purchased are designated as held-to-maturity, available-for-sale, or trading securities at the time of acquisition. | ||||||
Securities held-to-maturity are stated at cost, adjusted for the amortization of premiums and the accretion of discounts on a level-yield basis. The carrying value of these assets is not adjusted for temporary declines in fair value since the Company has the positive intent and ability to hold them to maturity. Securities available-for-sale are carried at fair value, and any unrealized holding gains or losses are excluded from earnings and reported as a separate component of stockholders’ equity, net of tax, in accumulated other comprehensive income until realized. Realized gains or losses are determined on the specific identification method. Premiums and discounts are amortized or accreted as adjustment of yield on a level-yield basis. | ||||||
ASC Topic 320 requires an entity to assess whether the entity has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. If either of these conditions is met, an entity must recognize an other-than-temporary impairment (“OTTI”). If an entity does not intend to sell the debt security and will not be required to sell the debt security, the entity must consider whether it will recover the amortized cost basis of the security. If the present value of expected cash flows is less than the amortized cost basis of the security, OTTI shall be considered to have occurred. OTTI is then separated into the amount of the total impairment related to credit losses and the amount of the total impairment related to all other factors. An entity determines the impairment related to credit losses by comparing the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. OTTI related to the credit loss is then recognized in earnings. OTTI related to all other factors is recognized in other comprehensive income. OTTI not related to the credit loss for a held-to-maturity security should be recognized separately in a new category of other comprehensive income and amortized over the remaining life of the debt security as an increase in the carrying value of the security only when the entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its remaining amortized cost basis. The Company has both the ability and the intent to hold and it is not more likely than not that the Company will be required to sell those securities with unrealized losses before recovery of their amortized cost basis. | ||||||
Trading securities are reported at fair value, with unrealized gains or losses included in income. | ||||||
Investment in Federal Home Loan Bank (“FHLB”) Stock. As a member of the FHLB system the Bank is required to maintain an investment in the capital stock of the FHLB. The amount of investment is also affected by the outstanding advances under the line of credit the Bank maintains with the FHLB. FHLB stock is carried at cost and is pledged as collateral to the FHLB. FHLB stock is periodically evaluated for impairment based on ultimate recovery of par value. The carrying amount of the FHLB stock was $25.0 million at December 31, 2013, and $41.3 million at December 31, 2012. As of December 31, 2013, the Company owned 250,000 shares of FHLB stock, which was the minimum stock requirement based on outstanding FHLB borrowings of $521.2 million. | ||||||
Loans. Loans are carried at amounts advanced, less principal payments collected and net deferred loan fees. Interest is accrued and earned daily on an actual or 360-day basis. Interest accruals on business loans and non-residential real estate loans are generally discontinued whenever the payment of interest or principal is 90 days or more past due, based on contractual terms. Such loans are placed on non-accrual status, unless the loan is well secured, and there is a high probability of recovery in full, as determined by management. When loans are placed on non-accrual status, previously accrued but unpaid interest is reversed and charged against current income, and subsequent payments received are generally first applied toward the outstanding principal balance of the loan. The loan is generally returned to accrual status when the borrower has brought the past due principal and interest payments current and, in the opinion of management, the borrower has demonstrated the ability to make future payments of principal and interest as scheduled. A non-accrual loan may also be returned to accrual status if all principal and interest contractually due are reasonably assured of repayment within a reasonable period and there has been a sustained period of payment performance, generally six months. Loan origination fees and commitment fees, offset by certain direct loan origination costs, are deferred and recognized over the contractual life of the loan as a yield adjustment. The amortization utilizes the interest method. If a loan is placed on non-accrual status, the amortization of the loan fees and the accretion of discounts are discontinued until the loan is returned to accruing status. | ||||||
Loans held for sale are carried at the lower of aggregate cost or fair value. Gains and losses are recorded in non-interest income based on the difference between sales proceeds, net of sales commissions, and carrying value. | ||||||
Loans Acquired Through Transfer. Loans acquired through the completion of a transfer, including loans acquired in a business combination, that have evidence of deterioration of credit quality since origination and for which it is probable, at acquisition, that the Company will be unable to collect all contractually required payment, receivables are initially recorded at fair value (as determined by the present value of expected future cash flows) with no valuation allowance. The difference between the undiscounted cash flows expected at acquisition and the investment in the loan, or the “accretable yield,” is recognized as interest income on a level-yield method over the life of the loan. Contractually required payments for interest and principal that exceed the undiscounted cash flows expected at acquisition, or the “nonaccretable difference,” are not recognized as a yield adjustment or as a loss accrual or a valuation allowance. Increases in expected cash flows subsequent to the initial investment are recognized prospectively through adjustment of the yield on the loan over its remaining life. Decreases in expected cash flows are recognized as impairment. Valuation allowance on these impaired loans reflect only losses incurred after the acquisition. | ||||||
Impaired Loans. A loan is considered impaired when it is probable that the Bank will be unable to collect all amounts due (i.e. both principal and interest) according to the contractual terms of the loan agreement. The measurement of impairment may be based on (1) the present value of the expected future cash flows of the impaired loan discounted at the loan’s original effective interest rate, (2) the observable market price of the impaired loan or (3) the fair value of the collateral of a collateral-dependent loan. The amount by which the recorded investment in the loan exceeds the measure of the impaired loan is recognized by recording a valuation allowance with a corresponding charge to the provision for loan losses. The Company stratifies its loan portfolio by size and treats smaller non-performing loans with an outstanding balance based on the Company’s defined criteria, generally where the loan amount is $500,000 or less, as a homogenous portfolio. Once a loan has been identified as a possible problem loan, the Company conducts a periodic review of such loan in order to test for impairment. When loans are placed on an impaired status, previously accrued but unpaid interest is reversed against current income and subsequent payments received are generally first applied toward the outstanding principal balance of the loan. | ||||||
Troubled Debt Restructured Loan (“TDR”). A TDR is a formal modification of the terms of a loan when the lender, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower. The concessions may be granted in various forms, including reduction in the stated interest rate, reduction in the loan balance or accrued interest, or extension of the maturity date. Although these loan modifications are considered TDRs, accruing TDR loans have, pursuant to the Bank’s policy, performed under the restructured terms and have demonstrated sustained performance under the modified terms for six months before being returned to accrual status. The sustained performance considered by management pursuant to its policy includes the periods prior to the modification if the prior performance met or exceeded the modified terms. This would include cash paid by the borrower prior to the restructure to set up interest reserves. Loans classified as TDRs are reported as impaired loans. | ||||||
Unfunded Loan Commitments. Unfunded loan commitments are generally related to providing credit facilities to clients of the Bank, and are not actively traded financial instruments. These unfunded commitments are disclosed as off-balance sheet financial instruments in Note 14 in the Notes to Consolidated Financial Statements. | ||||||
Letter of Credit Fees. Issuance and commitment fees received for the issuance of commercial or standby letters of credit are recognized over the term of the instruments. | ||||||
Premises and Equipment. Premises and equipment are carried at cost, less accumulated depreciation. Depreciation is computed on the straight-line method based on the following estimated useful lives of the assets: | ||||||
Type | Estimated Useful Life | |||||
Buildings (years) | 15 | to | 45 | |||
Building improvements (years) | 5 | to | 20 | |||
Furniture, fixtures, and equipment (years) | 3 | to | 25 | |||
Leasehold improvements | Shorter of useful lives or the terms of the leases | |||||
Improvements are capitalized and amortized to occupancy expense based on the above table. Construction in process is carried at cost and includes land acquisition cost, architectural fees, general contractor fees, capitalized interest and other costs related directly to the construction of a property. | ||||||
Other Real Estate Owned. Real estate acquired in the settlement of loans is initially recorded at fair value, less estimated costs to sell. Specific valuation allowances on other real estate owned are recorded through charges to operations to recognize declines in fair value subsequent to foreclosure. Gains on sales are recognized when certain criteria relating to the buyer’s initial and continuing investment in the property are met. | ||||||
Investments in Affordable Housing. The Company is a limited partner in limited partnerships that invest in low-income housing projects that qualify for Federal and/or State income tax credits. As further discussed in Note 7, the partnership interests are accounted for utilizing the equity method of accounting. As of December 31, 2013, six of the limited partnerships in which the Company has an equity interest were determined to be variable interest entities for which the Company is the primary beneficiary. The Company therefore consolidated the financial statements of these six limited partnerships into its Consolidated Financial Statements. | ||||||
Investments in Venture Capital. The Company invests in limited partnerships that invest in nonpublic companies. These are commonly referred to as venture capital investments. These limited partnership interests represent ownership of less than 5% and are carried under the cost method with other-than-temporary impairment charged against net income. | ||||||
Goodwill and Goodwill Impairment. Goodwill represents the excess of costs over fair value of assets of businesses acquired. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but instead are tested for impairment at least annually in accordance with the provisions of ASC Topic 350. ASC Topic 350 also requires that intangible assets with estimable useful lives be amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment in accordance with ASC Topic 360, formerly, SFAS No. 144, “Accounting for Impairment or Disposal of Long-Lived Assets.” | ||||||
The Company’s policy is to assess goodwill for impairment at the reporting unit level on an annual basis or between annual assessments if a triggering event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Impairment is the condition that exists when the carrying amount of goodwill exceeds its implied fair value. Accounting standards require management to estimate the fair value of each reporting unit in making the assessment of impairment at least annually. | ||||||
The Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test described in ASC Topic 350. The two-step impairment testing process conducted by us, if needed, begins by assigning net assets and goodwill to our reporting units. The Company then completes “step one” of the impairment test by comparing the fair value of each reporting unit (as determined based on the discussion below) with the recorded book value (or “carrying amount”) of its net assets, with goodwill included in the computation of the carrying amount. If the fair value of a reporting unit exceeds its carrying amount, goodwill of that reporting unit is not considered impaired, and “step two” of the impairment test is not necessary. If the carrying amount of a reporting unit exceeds its fair value, step two of the impairment test is performed to determine the amount of impairment. Step two of the impairment test compares the carrying amount of the reporting unit’s goodwill to the “implied fair value” of that goodwill. The implied fair value of goodwill is computed by assuming that all assets and liabilities of the reporting unit would be adjusted to the current fair value, with the offset as an adjustment to goodwill. This adjusted goodwill balance is the implied fair value used in step two. An impairment charge is recognized for the amount by which the carrying amount of goodwill exceeds its implied fair value. | ||||||
The Company has identified two reporting units for its business: the Commercial Lending unit and the Retail Banking unit. The reporting unit fair values were determined based on an equal weighting of (1) a market approach using a combination of price to earnings multiples determined based on a representative peer group applied to 2013 and forecasted 2014 and 2015 earnings, and a price to book multiple and (2) a dividend discount model with the discount rate determined using the same representative peer group. A control premium was then applied to the unit fair values so determined as of December 31, 2013. As a result of this analysis, the Company determined that there was no goodwill impairment at December 31, 2013 as the fair value of all reporting units exceeded the current carrying amount of the units. No assurance can be given that goodwill will not be written down in future periods. | ||||||
Prior to the Company’s reorganization which was effective October 1, 2013, the Company had identified three reporting units for its business, the Commercial Lending unit, the Retail Banking unit and the East Coast Operations unit. As a result of the Company’s reorganization, the activities of the East Coast Operations unit were assigned to the Commercial Lending unit and the Retail Banking unit and the $81 million of goodwill previously assigned to the East Coast Operations unit was allocated to the Commercial Lending unit and the Retail Banking unit in proportion to the fair value of the activities assigned to such units. | ||||||
Core Deposit Premium. Core deposit premium, which represents the purchase price over the fair value of the deposits acquired from other financial institutions, is amortized over its estimated useful life to its residual value in proportion to the economic benefits consumed. If a pattern of consumption cannot be reliably determined, straight-line amortization is used. The Company assesses the recoverability of this intangible asset by determining whether the amortization of the premium balance over its remaining life can be recovered through the remaining deposit portfolio and amortizes core deposit premium over its estimated useful life. | ||||||
At December 31, 2013, the unamortized balance of core deposit premium was $882,000 compared to $4.9 million at December 31, 2012. Aggregate amortization expense for core deposit premium was $4.5 million for 2013, $5.7 million for 2012, and $5.9 million for 2011. | ||||||
Securities Sold Under Agreements to Repurchase. The Company sells certain securities under agreements to repurchase. The agreements are treated as collateralized financing transactions and the obligations to repurchase securities sold are reflected as a liability in the accompanying Consolidated Balance Sheets. The securities underlying the agreements remain in the applicable asset accounts. | ||||||
Stock-Based Compensation. Stock option compensation expense is calculated based on the fair value of the award at the grant date for those options expected to vest, and is recognized as an expense over the vesting period of the grant using the straight-line method. The Company uses the Black-Scholes option pricing model to estimate the value of granted options. This model takes into account the option exercise price, the expected life, the current price of the underlying stock, the expected volatility of the Company’s stock, expected dividends on the stock and a risk-free interest rate. The Company estimates the expected volatility based on the Company’s historical stock prices for the period corresponding to the expected life of the stock options. Restricted stock units are valued at the closing price of the Company’s stock on the date of the grant. Stock-based compensation is recognized ratably over the requisite service period for all awards. | ||||||
Foreign Exchange Forwards and Foreign Currency Option Contracts. We enter into foreign exchange forward contracts and foreign currency option contracts with correspondent banks to mitigate the risk of fluctuations in foreign currency exchange rates for foreign currency certificates of deposit, foreign exchange contracts or foreign currency option contracts entered into with our clients. These contracts are not designated as hedging instruments and are recorded at fair value in our Consolidated Balance Sheets. Changes in the fair value of these contracts as well as the related foreign currency certificates of deposit, foreign exchange contracts or foreign currency option contracts, are recognized immediately in net income as a component of non-interest income. Period end gross positive fair values are recorded in other assets and gross negative fair values are recorded in other liabilities. | ||||||
Income Taxes. The provision for income taxes is based on income reported for financial statement purposes, and differs from the amount of taxes currently payable, since certain income and expense items are reported for financial statement purposes in different periods than those for tax reporting purposes. The Company accounts for income taxes using the asset and liability approach, the objective of which is to establish deferred tax assets and liabilities for the temporary differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled. A valuation allowance is established for deferred tax assets if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. | ||||||
Comprehensive Income/(loss). Comprehensive income/(loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. Comprehensive income/(loss) generally includes net income/(loss), foreign currency translation adjustments, minimum pension liability adjustments, unrealized gains and losses on investments in securities available-for-sale, and cash flow hedges. Comprehensive income/(loss) and its components are reported and displayed in the Company’s consolidated statements of operations and comprehensive income/(loss). | ||||||
Net Income per Common Share. Earnings per share (“EPS”) is computed on a basic and diluted basis. Basic EPS excludes dilution and is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shares in the earnings of the Company. Potential dilution is excluded from computation of diluted per-share amounts when a net loss from operations exists. | ||||||
Foreign Currency Translation. The Company considers the functional currency of its foreign operations to be the United States dollar. Accordingly, the Company remeasures monetary assets and liabilities at year-end exchange rates, while nonmonetary items are remeasured at historical rates. Income and expense accounts are remeasured at the average rates in effect during the year, except for depreciation, which is remeasured at historical rates. Foreign currency transaction gains and losses are recognized in income in the period of occurrence. | ||||||
Statement of Cash Flows. Cash and cash equivalents include short-term highly-liquid investments that generally have an original maturity of three months or less. | ||||||
Segment Information and Disclosures. Accounting principles generally accepted in the United States of America establish standards to report information about operating segments in annual financial statements and require reporting of selected information about operating segments in interim reports to stockholders. It also establishes standards for related disclosures about products and services, geographic areas, and major customers. The Company has concluded it has one operating segment. | ||||||
Recent Accounting Pronouncements | ||||||
In January 2013, the Financial Accounting Standard Board (“FASB”) issued ASU 2013-01, “Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities.” ASU No. 2013-01 clarifies that the scope of Update 2011-11 applies to derivatives, repurchase agreements, and securities lending transactions to the extent that they are either offset in the financial statements or subject to an enforceable master netting arrangement or similar agreement. ASU 2013-01 became effective for interim and annual periods beginning on or after January 1, 2013. Adoption of ASU 2013-01 did not have a significant impact on the Company’s consolidated financial statements. See Note 23 to the Company’s consolidated financial statements for the disclosure of adoption of ASU 2013-01. | ||||||
In February 2013, the FASB issued ASU 2013-02 “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” ASU 2013-02 amends Topic 220, “Comprehensive Income,” to improve the reporting of reclassification out of accumulated other comprehensive income. The amendments do not change the current requirements for reporting net income or other comprehensive income in financial statements. However, the amendments require an entity to provide information about the amounts reclassified and to present significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. ASU 2013-02 became effective prospectively for reporting periods beginning after December 15, 2012. Adoption of ASU 2013-02 did not have a significant impact on the Company’s consolidated financial statements. See Note 13 to the Company’s Condensed Consolidated Financial Statements for the disclosure of adoption of ASU 2013-02. | ||||||
In July 2013, the FASB issued ASU 2013-11 “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” ASU 2013-11 amends Topic 740, “Income Taxes,” to eliminate the diversity on the financial statement presentation of an unrecognized tax benefit. An unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. However , to the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date to settle any additional income taxes, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. ASU 2013-11 became effective prospectively for reporting periods beginning after December 15, 2013. Adoption of ASU 2013-11 did not have a significant impact on the Company’s Consolidated Financial Statements. |
Note_2_Cash_and_Cash_Equivalen
Note 2 - Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2013 | |
Cash and Cash Equivalents [Abstract] | ' |
Cash and Cash Equivalents Disclosure [Text Block] | ' |
2. Cash and Cash Equivalents | |
The Company manages its cash and cash equivalents, which consist of cash on hand, amounts due from banks, federal funds sold, and short-term investments with original maturity of three months or less, based upon the Company’s operating, investment, and financing activities. For the purpose of reporting cash flows, these same accounts are included in cash and cash equivalents. | |
The Company is required to maintain reserves with the Federal Reserve Bank. Reserve requirements are based on a percentage of deposit liabilities. The average reserve balances required were $6.5 million for 2013 and $12.9 million for 2012. |
Note_3_Securities_Purchased_Un
Note 3 - Securities Purchased Under Agreements to Resell | 12 Months Ended |
Dec. 31, 2013 | |
Disclosure Text Block [Abstract] | ' |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | ' |
3. Securities Purchased under Agreements to Resell | |
Securities purchased under agreements to resell are usually collateralized by U.S. government agency and mortgage-backed securities. The counter-parties to these agreements are nationally recognized investment banking firms that meet credit requirements of the Company and with whom a master repurchase agreement has been duly executed. | |
For those securities obtained under the resale agreements, the collateral is either held by a third party custodian or by the counter party and is segregated under written agreements that recognize the Company’s interest in the securities. Interest income associated with securities purchased under resale agreements was zero for 2013, $18,000 for 2012 and $83,000 for 2011. |
Note_4_Investment_Securities
Note 4 - Investment Securities | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||||||||||
4. Investment Securities | |||||||||||||||||||||||||||||||||||||
Investment Securities. The following tables reflect the amortized cost, gross unrealized gains, gross unrealized losses, and fair values of investment securities as of December 31, 2013, and December 31, 2012: | |||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||||||||||||||
U.S. treasury securities | $ | 460,095 | $ | 99 | $ | 1 | $ | 460,193 | |||||||||||||||||||||||||||||
Mortgage-backed securities | 1,010,294 | 7,049 | 64,529 | 952,814 | |||||||||||||||||||||||||||||||||
Collateralized mortgage obligations | 5,929 | 231 | 54 | 6,106 | |||||||||||||||||||||||||||||||||
Asset-backed securities | 123 | - | - | 123 | |||||||||||||||||||||||||||||||||
Corporate debt securities | 154,955 | 298 | 4,949 | 150,304 | |||||||||||||||||||||||||||||||||
Mutual funds | 6,000 | - | 275 | 5,725 | |||||||||||||||||||||||||||||||||
Preferred stock of government sponsored entities | 569 | 10,834 | - | 11,403 | |||||||||||||||||||||||||||||||||
Total securities available-for-sale | $ | 1,637,965 | $ | 18,511 | $ | 69,808 | $ | 1,586,668 | |||||||||||||||||||||||||||||
Total investment securities | $ | 1,637,695 | $ | 18,511 | $ | 69,808 | $ | 1,586,668 | |||||||||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||
Securities Held-to-Maturity | |||||||||||||||||||||||||||||||||||||
State and municipal securities | $ | 129,037 | $ | 9,268 | $ | - | $ | 138,305 | |||||||||||||||||||||||||||||
Mortgage-backed securities | 634,757 | 40,801 | - | 675,558 | |||||||||||||||||||||||||||||||||
Corporate debt securities | 9,974 | 69 | - | 10,043 | |||||||||||||||||||||||||||||||||
Total securities held-to-maturity | $ | 773,768 | $ | 50,138 | $ | - | $ | 823,906 | |||||||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||||||||||||||
U.S. treasury securities | $ | 509,748 | $ | 228 | $ | 5 | $ | 509,971 | |||||||||||||||||||||||||||||
Mortgage-backed securities | 404,505 | 12,194 | 5 | 416,694 | |||||||||||||||||||||||||||||||||
Collateralized mortgage obligations | 9,772 | 430 | 34 | 10,168 | |||||||||||||||||||||||||||||||||
Asset-backed securities | 145 | - | 4 | 141 | |||||||||||||||||||||||||||||||||
Corporate debt securities | 349,973 | 106 | 14,102 | 335,977 | |||||||||||||||||||||||||||||||||
Mutual funds | 6,000 | 79 | - | 6,079 | |||||||||||||||||||||||||||||||||
Preferred stock of government sponsored entities | 569 | 1,766 | - | 2,335 | |||||||||||||||||||||||||||||||||
Trust preferred securities | 9,964 | 151 | - | 10,115 | |||||||||||||||||||||||||||||||||
Total securities available-for-sale | $ | 1,290,676 | $ | 14,954 | $ | 14,150 | $ | 1,291,480 | |||||||||||||||||||||||||||||
Total investment securities | $ | 2,064,444 | $ | 65,092 | $ | 14,150 | $ | 2,115,386 | |||||||||||||||||||||||||||||
The amortized cost and fair value of investment securities at December 31, 2013, by contractual maturities are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or repayment penalties. | |||||||||||||||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||||||||||||||
Amortized Cost | Fair Value | ||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||
Due in one year or less | $ | 460,106 | $ | 460,204 | |||||||||||||||||||||||||||||||||
Due after one year through five years | 80,769 | 82,079 | |||||||||||||||||||||||||||||||||||
Due after five years through ten years | 112,654 | 108,840 | |||||||||||||||||||||||||||||||||||
Due after ten years (1) | 984,436 | 935,545 | |||||||||||||||||||||||||||||||||||
Total | $ | 1,637,965 | $ | 1,586,668 | |||||||||||||||||||||||||||||||||
-1 | Equity securities are reported in this category | ||||||||||||||||||||||||||||||||||||
During the first quarter of 2013, due to the ongoing discussions regarding corporate income tax rates which could have a negative impact on the after-tax yields and fair values of the Company’s portfolio of municipal securities, the Company determined it may sell such securities in response to market conditions. As a result, the Company reclassified its municipal securities from securities held-to-maturity to securities available-for-sale. Concurrent with this reclassification, the Company also reclassified all other securities held-to-maturity, which together with the municipal securities had an amortized cost on the date of transfer of $722.5 million, to securities available-for-sale. At the reclassification date, a net unrealized gain was recorded in other comprehensive income for these securities totaling $40.5 million. | |||||||||||||||||||||||||||||||||||||
Proceeds from sales of mortgage-backed securities were $456.4 million and repayments, maturities and calls of mortgage-backed securities were $213.2 million during 2013 compared to proceeds from sales of $501.1 million and repayments, maturities and calls of $118.1 million during 2012, and proceeds from sales of $759.7 million and repayments, maturities and calls of $108.4 million during 2011. Proceeds from sales of other investment securities were $575.4 million during 2013 compared to $61.0 million during 2012 and $525.0 million during 2011. Proceeds from maturity and calls of investment securities were $231.1 million during 2013 compared to $552.1 million during 2012 and $435.0 million during 2011. In 2013, gains of $29.0 million and losses of $1.6 million were realized on sales and calls of investment securities compared with $18.6 million in gains and $607,000 in losses realized in 2012, and $21.1 million in gains and no losses realized in 2011. | |||||||||||||||||||||||||||||||||||||
At December 31, 2013, all of the Company’s mortgage-backed securities were rated as investment grade except for three non-agency issues. Total unrealized losses of $64.5 million from all mortgage-backed securities resulted from increases in interest rates subsequent to the date that these securities were purchased. The Company's unrealized loss on investments in corporate bonds relates to nine issues of investments in bonds of financial institutions, all of which were investment grade at the date of acquisition and as of December 31, 2013. The unrealized losses were primarily caused by the widening of credit and liquidity spreads since the dates of acquisition. The contractual terms of those investments do not permit the issuers to settle the security at a price less than the amortized cost of the investment. The Company currently does not believe it is probable that it will be unable to collect all amounts due according to the contractual terms of the investments. Therefore, it is expected that these mortgage-backed securities and corporate bonds would not be settled at a price less than the amortized cost of the investment. Because the Company does not intend to sell and would not be required to sell these investments until a recovery of fair value, which may be maturity, it does not consider its investments in these mortgaged-backed securities and corporate bonds to be other-than-temporarily impaired at December 31, 2013. | |||||||||||||||||||||||||||||||||||||
The temporarily impaired securities represent 62.0% of the fair value of investment securities as of December 31, 2013. Unrealized losses for securities with unrealized losses for less than twelve months represent 6.9%, and securities with unrealized losses for twelve months or more represent 4.7%, of the historical cost of these securities. Unrealized losses on these securities generally resulted from increases in interest rates, credit spreads or liquidity discounts subsequent to the date that these securities were purchased. At December 31, 2013, 19 issues of securities had unrealized losses for 12 months or longer and 30 issues of securities had unrealized losses of less than 12 months. | |||||||||||||||||||||||||||||||||||||
At December 31, 2013, management believed the impairment was temporary and, accordingly, no impairment loss has been recognized in our consolidated statements of operations. We expect to recover the amortized cost basis of our debt securities, and have no intent to sell and will not be required to sell available-for-sale debt securities that have declined below their cost before their anticipated recovery. The tables below show the fair value, unrealized losses, and number of issuances of the temporarily impaired securities in our investment securities portfolio as of December 31, 2013, and December 31, 2012: | |||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Temporarily Impaired Securities | |||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||||||||||||
Fair | Unrealized | No. of | Fair | Unrealized | No. of | Fair | Unrealized | No. of | |||||||||||||||||||||||||||||
Value | Losses | Issuances | Value | Losses | Issuances | Value | Losses | Issuances | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||||||||||||||
U.S. treasury securities | $ | 75,064 | $ | 1 | 1 | $ | - | $ | - | - | $ | 75,064 | $ | 1 | 1 | ||||||||||||||||||||||
Mortgage-backed securities | 792,012 | 64,526 | 25 | 272 | 2 | 7 | 792,284 | 64,528 | 32 | ||||||||||||||||||||||||||||
Mortgage-backed securities-Non-agency | 94 | 1 | 1 | - | - | - | 94 | 1 | 1 | ||||||||||||||||||||||||||||
Collateralized mortgage obligations | 68 | 4 | 2 | 301 | 50 | 3 | 369 | 54 | 5 | ||||||||||||||||||||||||||||
Corporate debt securities | 9,970 | 30 | 1 | 100,081 | 4,919 | 8 | 110,051 | 4,949 | 9 | ||||||||||||||||||||||||||||
Mutual funds | - | - | - | 5,724 | 275 | 1 | 5,724 | 275 | 1 | ||||||||||||||||||||||||||||
Total securities available-for-sale | $ | 877,208 | $ | 64,562 | 30 | $ | 106,378 | $ | 5,246 | 19 | $ | 983,586 | $ | 69,808 | 49 | ||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||
Temporarily Impaired Securities | |||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||||||||||||
Fair | Unrealized | No. of | Fair | Unrealized | No. of | Fair | Unrealized | No. of | |||||||||||||||||||||||||||||
Value | Losses | Issuances | Value | Losses | Issuances | Value | Losses | Issuances | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||||
Securities Held-to-Maturity | |||||||||||||||||||||||||||||||||||||
Total securities held-to-maturity | $ | - | $ | - | - | $ | - | $ | - | - | $ | - | $ | - | - | ||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||||||||||||||
U.S. treasury securities | $ | 49,969 | $ | 5 | 1 | $ | - | $ | - | - | $ | 49,969 | $ | 5 | 1 | ||||||||||||||||||||||
Mortgage-backed securities | 231 | 1 | 2 | 170 | 1 | 6 | 401 | 2 | 8 | ||||||||||||||||||||||||||||
Mortgage-backed securities-Non-agency | - | - | - | 96 | 2 | 1 | 96 | 2 | 1 | ||||||||||||||||||||||||||||
Collateralized mortgage obligations | - | - | - | 439 | 35 | 4 | 439 | 35 | 4 | ||||||||||||||||||||||||||||
Asset-backed securities | - | - | - | 141 | 4 | 1 | 141 | 4 | 1 | ||||||||||||||||||||||||||||
Corporate debt securities | 52,468 | 2,532 | 4 | 253,430 | 11,570 | 22 | 305,898 | 14,102 | 26 | ||||||||||||||||||||||||||||
Total securities available-for-sale | $ | 102,668 | $ | 2,538 | 7 | $ | 254,276 | $ | 11,612 | 34 | $ | 356,944 | $ | 14,150 | 41 | ||||||||||||||||||||||
Investment securities having a carrying value of $926.5 million at December 31, 2013, and $1.45 billion at December 31, 2012, were pledged to secure public deposits, other borrowings, treasury tax and loan, Federal Home Loan Bank advances, securities sold under agreements to repurchase, and foreign exchange transactions. |
Note_5_Loans
Note 5 - Loans | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||
5. Loans | |||||||||||||||||||||||||||||
Most of the Company’s business activity is predominately with Asian customers located in Southern and Northern California; New York City; Houston and Dallas, Texas; Seattle, Washington; Boston, Massachusetts; Chicago, Illinois; Edison, New Jersey; Nevada; and Hong Kong. The Company has no specific industry concentration, and generally its loans are collateralized with real property or other pledged collateral of the borrowers. Loans are generally expected to be paid off from the operating profits of the borrowers, refinancing by another lender, or through sale by the borrowers of the secured collateral. | |||||||||||||||||||||||||||||
The components of loans in the Consolidated Balance Sheets as of December 31, 2013, and December 31, 2012, were as follows: | |||||||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Type of Loans: | |||||||||||||||||||||||||||||
Commercial loans | $ | 2,298,724 | $ | 2,127,107 | |||||||||||||||||||||||||
Real estate construction loans | 221,701 | 180,950 | |||||||||||||||||||||||||||
Commercial mortgage loans | 4,023,051 | 3,768,452 | |||||||||||||||||||||||||||
Residential mortgage loans | 1,355,255 | 1,146,230 | |||||||||||||||||||||||||||
Equity lines | 171,277 | 193,852 | |||||||||||||||||||||||||||
Installment and other loans | 14,555 | 12,556 | |||||||||||||||||||||||||||
Gross loans | 8,084,563 | 7,429,147 | |||||||||||||||||||||||||||
Less: | |||||||||||||||||||||||||||||
Allowance for loan losses | (173,889 | ) | (183,322 | ) | |||||||||||||||||||||||||
Unamortized deferred loan fees | (13,487 | ) | (10,238 | ) | |||||||||||||||||||||||||
Total loans and leases, net | $ | 7,897,187 | $ | 7,235,587 | |||||||||||||||||||||||||
The Company pledged real estate loans of $1.6 billion at December 31, 2013, and $1.6 billion at December 31, 2012, to the Federal Home Loan Bank of San Francisco under its specific pledge program. In addition, the Bank pledged $119.1 million at December 31, 2013, and $211.6 million at December 31, 2012, of its commercial loans to the Federal Reserve Bank’s Discount Window under the Borrower-in-Custody program. | |||||||||||||||||||||||||||||
Loans serviced for others as of December 31, 2013, totaled $197.6 million and were comprised of $53.3 million of commercial loans, $13.3 million of commercial real estate loans, $12.0 million of construction loans, and $119.0 million of residential mortgages. | |||||||||||||||||||||||||||||
The Company has entered into transactions with its directors, executive officers, or principal holders of its equity securities, or the associates of such persons (“Related Parties”). Such transactions were made in the ordinary course of business on substantially the same terms and conditions, including interest rates and collateral, as those prevailing at the same time for comparable transactions with customers who are not related parties. In management’s opinion, these transactions did not involve more than normal credit risk or present other unfavorable features. All loans to Related Parties were current as of December 31, 2013. In July 2011, the Bank sold a participation in a substandard real estate loan to a Related Party for $24.5 million, which represented 98% of the contractual balance. In March 2012, the Bank sold participations in two substandard real estate loans to the same Related Party for $7.9 million, which represented 92.5% of the contractual balance. An analysis of the activity with respect to loans to Related Parties for the years indicated is as follows: | |||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Balance at beginning of year | $ | 172,584 | $ | 160,069 | |||||||||||||||||||||||||
Additional loans made | 64,063 | 92,249 | |||||||||||||||||||||||||||
Payment received | (109,662 | ) | (79,734 | ) | |||||||||||||||||||||||||
Balance at end of year | $ | 126,985 | $ | 172,584 | |||||||||||||||||||||||||
At December 31, 2013, recorded investment in impaired loans totaled $200.8 million and was comprised of nonaccrual loans of $83.2 million and accruing TDR’s of $117.6 million. At December 31, 2012, recorded investment in impaired loans totaled $248.6 million and was comprised of nonaccrual loans of $103.9 million and accruing TDR’s of $144.7 million. The average balance of impaired loans was $221.2 million in 2013 and $277.8 million in 2012. We considered all non-accrual loans and troubled debt restructurings ("TDR") to be impaired. Interest recognized on impaired loans totaled $5.6 million in 2013 and $9.3 million in 2012. The Bank recognizes interest income on impaired loans based on its existing method of recognizing interest income on non-accrual loans except accruing TDRs. For impaired loans, the amounts previously charged off represent 23.9% at December 31, 2013, and 23.2% at December 31, 2012, of the contractual balances for impaired loans. The following table presents impaired loans and the related allowance as of the dates indicated: | |||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||||||
Unpaid Principal Balance | Recorded Investment | Allowance | Unpaid Principal Balance | Recorded Investment | Allowance | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
With no allocated allowance | |||||||||||||||||||||||||||||
Commercial loans | $ | 20,992 | $ | 18,905 | $ | - | $ | 29,359 | $ | 18,963 | $ | - | |||||||||||||||||
Real estate construction loans | 25,401 | 15,097 | - | 9,304 | 7,277 | - | |||||||||||||||||||||||
Commercial mortgage loans | 105,593 | 78,930 | - | 189,871 | 152,957 | - | |||||||||||||||||||||||
Residential mortgage and equity lines | 4,892 | 4,892 | - | 4,303 | 4,229 | - | |||||||||||||||||||||||
Subtotal | $ | 156,878 | $ | 117,824 | $ | - | $ | 232,837 | $ | 183,426 | $ | - | |||||||||||||||||
With allocated allowance | |||||||||||||||||||||||||||||
Commercial loans | $ | 22,737 | $ | 13,063 | $ | 2,519 | $ | 7,804 | $ | 4,959 | $ | 1,467 | |||||||||||||||||
Real estate construction loans | 28,475 | 19,323 | 3,460 | 54,718 | 34,856 | 8,158 | |||||||||||||||||||||||
Commercial mortgage loans | 39,223 | 35,613 | 6,584 | 14,163 | 12,928 | 1,336 | |||||||||||||||||||||||
Residential mortgage and equity lines | 16,535 | 14,957 | 721 | 14,264 | 12,428 | 1,222 | |||||||||||||||||||||||
Subtotal | $ | 106,970 | $ | 82,956 | $ | 13,284 | $ | 90,949 | $ | 65,171 | $ | 12,183 | |||||||||||||||||
Total impaired loans | $ | 263,848 | $ | 200,780 | $ | 13,284 | $ | 323,786 | $ | 248,597 | $ | 12,183 | |||||||||||||||||
The following table presents the average balance and interest income recognized related to impaired loans for the periods indicated: | |||||||||||||||||||||||||||||
For the year ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||
Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Commercial loans | $ | 27,123 | $ | 31,798 | $ | 48,349 | $ | 770 | $ | 580 | $ | 1,053 | |||||||||||||||||
Real estate construction loans | 37,875 | 49,094 | 82,529 | 284 | 265 | 940 | |||||||||||||||||||||||
Commercial mortgage loans | 138,121 | 178,822 | 212,555 | 4,256 | 8,221 | 3,101 | |||||||||||||||||||||||
Residential mortgage and equity lines | 18,033 | 18,062 | 17,920 | 289 | 239 | 236 | |||||||||||||||||||||||
Subtotal | $ | 221,152 | $ | 277,776 | $ | 361,353 | $ | 5,599 | $ | 9,305 | $ | 5,330 | |||||||||||||||||
The following is a summary of non-accrual loans as of December 31, 2013, 2012, and 2011 and the related net interest foregone for the years then ended: | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Non-accrual portfolio loans | $ | 83,183 | $ | 103,902 | $ | 201,197 | |||||||||||||||||||||||
Non-accrual loans held-for-sale | - | - | 760 | ||||||||||||||||||||||||||
Total non-accrual loans | $ | 83,183 | $ | 103,902 | $ | 201,957 | |||||||||||||||||||||||
Contractual interest due | $ | 5,851 | $ | 6,621 | $ | 13,049 | |||||||||||||||||||||||
Interest recognized | 22 | 1,006 | 71 | ||||||||||||||||||||||||||
Net interest foregone | $ | 5,829 | $ | 5,615 | $ | 12,978 | |||||||||||||||||||||||
The following tables present the aging of the loan portfolio by type as of December 31, 2013, and December 31, 2012: | |||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | Greater than 90 Days Past Due | Non-accrual Loans | Total Past Due | Loans Not Past Due | Total | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Type of Loans: | |||||||||||||||||||||||||||||
Commercial loans | $ | 7,170 | $ | 16,562 | $ | - | $ | 21,232 | $ | 44,964 | $ | 2,253,760 | $ | 2,298,724 | |||||||||||||||
Real estate construction loans | - | - | - | 28,586 | 28,586 | 193,115 | 221,701 | ||||||||||||||||||||||
Commercial mortgage loans | 20,043 | 7,862 | 982 | 19,621 | 48,508 | 3,974,543 | 4,023,051 | ||||||||||||||||||||||
Residential mortgage loans | 3,508 | 832 | - | 13,744 | 18,084 | 1,508,448 | 1,526,532 | ||||||||||||||||||||||
Installment and other loans | 100 | - | - | - | 100 | 14,455 | 14,555 | ||||||||||||||||||||||
Total loans | $ | 30,821 | $ | 25,256 | $ | 982 | $ | 83,183 | $ | 140,242 | $ | 7,944,321 | $ | 8,084,563 | |||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | Greater than 90 Days Past Due | Non-accrual Loans | Total Past Due | Loans Not Past Due | Total | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Type of Loans: | |||||||||||||||||||||||||||||
Commercial loans | $ | 16,832 | $ | 1,610 | $ | 630 | $ | 19,958 | $ | 39,030 | $ | 2,088,077 | $ | 2,127,107 | |||||||||||||||
Real estate construction loans | - | 1,471 | - | 36,299 | 37,770 | 143,180 | 180,950 | ||||||||||||||||||||||
Commercial mortgage loans | 21,570 | 3,627 | - | 35,704 | 60,901 | 3,707,551 | 3,768,452 | ||||||||||||||||||||||
Residential mortgage loans | 5,324 | 1,972 | - | 11,941 | 19,237 | 1,320,845 | 1,340,082 | ||||||||||||||||||||||
Installment and other loans | - | - | - | - | - | 12,556 | 12,556 | ||||||||||||||||||||||
Total loans | $ | 43,726 | $ | 8,680 | $ | 630 | $ | 103,902 | $ | 156,938 | $ | 7,272,209 | $ | 7,429,147 | |||||||||||||||
The determination of the amount of the allowance for credit losses for problem loans is based on management’s current judgment about the credit quality of the loan portfolio and takes into consideration known relevant internal and external factors that affect collectibility when determining the appropriate level for the allowance for credit losses. The nature of the process by which the Bank determines the appropriate allowance for credit losses requires the exercise of considerable judgment. This allowance evaluation process is also applied to TDRs since TDRs are considered to be impaired loans. As a result of adopting the amendments in ASU 2012-02, the Company reassessed all restructurings that occurred on or after January 1, 2011, for identification as TDRs. | |||||||||||||||||||||||||||||
At December 31, 2013, accruing TDRs were $117.6 million and non-accrual TDRs were $38.8 million compared to accruing TDRs of $144.7 million and non-accrual TDRs of $47.7 million at December 31, 2012. The Company has allocated specific reserves of $6.9 million to accruing TDRs and $2.2 million to non-accrual TDRs at December 31, 2013, and $1.1 million to accruing TDRs and $7.8 million to non-accrual TDRs at December 31, 2012. The following table presents TDRs that were modified during 2013, their specific reserve at December 31, 2013, and charge-offs during 2013: | |||||||||||||||||||||||||||||
No. of Contracts | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | Specific Reserve | Charge-offs | |||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Commercial loans | 9 | $ | 12,026 | $ | 10,860 | $ | 550 | $ | 1,166 | ||||||||||||||||||||
Commercial mortgage loans | 5 | 13,090 | 13,090 | 329 | - | ||||||||||||||||||||||||
Residential mortgage and equity lines | 11 | 3,736 | 3,658 | 103 | 78 | ||||||||||||||||||||||||
Total | 25 | $ | 28,852 | $ | 27,608 | $ | 982 | $ | 1,244 | ||||||||||||||||||||
The following table presents TDRs that were modified during 2012, their specific reserve at December 31, 2012, and charge-offs during 2012: | |||||||||||||||||||||||||||||
No. of Contracts | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | Specific Reserve | Charge-offs | |||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Commercial loans | 9 | $ | 3,646 | $ | 3,646 | $ | 1,213 | $ | - | ||||||||||||||||||||
Commercial mortgage loans | 20 | 62,118 | 58,393 | 27 | 3,725 | ||||||||||||||||||||||||
Residential mortgage and equity lines | 14 | 4,305 | 4,223 | 162 | 82 | ||||||||||||||||||||||||
Total | 43 | $ | 70,069 | $ | 66,262 | $ | 1,402 | $ | 3,807 | ||||||||||||||||||||
The following table presents TDRs that were modified during 2011, their specific reserve at December 31, 2011, and charge-offs during 2011: | |||||||||||||||||||||||||||||
No. of Contracts | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | Specific Reserve | Charge-off | |||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Commercial loans | 7 | $ | 15,025 | $ | 15,025 | $ | 104 | $ | - | ||||||||||||||||||||
Real estate construction loans | 3 | 33,669 | 21,522 | - | 12,147 | ||||||||||||||||||||||||
Commercial mortgage loans | 6 | 17,343 | 14,294 | 1 | 3,049 | ||||||||||||||||||||||||
Residential mortgage and equity lines | 3 | 1,574 | 1,574 | 114 | - | ||||||||||||||||||||||||
Total | 19 | $ | 67,611 | $ | 52,415 | $ | 219 | $ | 15,196 | ||||||||||||||||||||
A summary of TDRs by type of concession and by type of loans as of December 31, 2013, December 31, 2012, and December 31, 2011, are shown below: | |||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||
Accruing TDRs | Principal Deferral | Rate Reduction | Rate Reduction and Forgiveness of Principal | Rate Reduction and Payment Deferral | Total | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Commercial loans | $ | 9,112 | $ | 2,916 | $ | - | $ | 2,708 | $ | 14,736 | |||||||||||||||||||
Real estate construction loans | - | - | - | 5,834 | 5,834 | ||||||||||||||||||||||||
Commercial mortgage loans | 11,333 | 9,389 | - | 70,200 | 90,922 | ||||||||||||||||||||||||
Residential mortgage loans | 1,564 | 1,024 | - | 3,517 | 6,105 | ||||||||||||||||||||||||
Total accruing TDRs | $ | 22,009 | $ | 13,329 | $ | - | $ | 82,259 | $ | 117,597 | |||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||
Non-accrual TDRs | Interest Deferral | Principal Deferral | Rate Reduction | Rate Reduction and Forgiveness of Principal | Rate Reduction and Payment Deferral | Total | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Commercial loans | $ | - | $ | 2,866 | $ | - | $ | 1,352 | $ | - | $ | 4,218 | |||||||||||||||||
Real estate construction loans | - | 16,009 | - | - | 9,263 | 25,272 | |||||||||||||||||||||||
Commercial mortgage loans | 1,443 | 2,168 | - | - | 1,843 | 5,454 | |||||||||||||||||||||||
Residential mortgage loans | 241 | 2,206 | - | - | 1,378 | 3,825 | |||||||||||||||||||||||
Total non-accrual TDRs | $ | 1,684 | $ | 23,249 | $ | - | $ | 1,352 | $ | 12,484 | $ | 38,769 | |||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||
Accruing TDRs | Principal Deferral | Rate Reduction | Rate Reduction and Forgiveness of Principal | Rate Reduction and Payment Deferral | Total | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Commercial loans | $ | 531 | $ | 3,020 | $ | - | $ | 413 | $ | 3,964 | |||||||||||||||||||
Real estate construction loans | - | - | - | 5,834 | 5,834 | ||||||||||||||||||||||||
Commercial mortgage loans | 27,003 | 16,656 | 739 | 85,783 | 130,181 | ||||||||||||||||||||||||
Residential mortgage loans | 1,461 | 1,024 | - | 2,231 | 4,716 | ||||||||||||||||||||||||
Total accruing TDRs | $ | 28,995 | $ | 20,700 | $ | 739 | $ | 94,261 | $ | 144,695 | |||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||
Non-accrual TDRs | Interest Deferral | Principal Deferral | Rate Reduction | Rate Reduction and Forgiveness of Principal | Rate Reduction and Payment Deferral | Total | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Commercial loans | $ | - | $ | 912 | $ | - | $ | 1,518 | $ | - | $ | 2,430 | |||||||||||||||||
Real estate construction loans | - | 16,767 | 9,579 | - | - | 26,346 | |||||||||||||||||||||||
Commercial mortgage loans | 1,685 | 2,817 | 5,746 | - | 5,076 | 15,324 | |||||||||||||||||||||||
Residential mortgage loans | 275 | 2,010 | 586 | - | 760 | 3,631 | |||||||||||||||||||||||
Total non-accrual TDRs | $ | 1,960 | $ | 22,506 | $ | 15,911 | $ | 1,518 | $ | 5,836 | $ | 47,731 | |||||||||||||||||
As of December 31, 2011 | |||||||||||||||||||||||||||||
Accruing TDRs | Principal Deferral | Rate Reduction | Rate Reduction and Forgiveness of Principal | Rate Reduction and Payment Deferral | Total | ||||||||||||||||||||||||
Commercial loans | $ | 12,933 | $ | 1,756 | $ | - | $ | 431 | $ | 15,120 | |||||||||||||||||||
Real estate construction loans | 16,820 | 9,659 | - | 5,776 | 32,255 | ||||||||||||||||||||||||
Commercial mortgage loans | 471 | 37,796 | 2,071 | 28,935 | 69,273 | ||||||||||||||||||||||||
Residential mortgage loans | 1,294 | 587 | - | 1,487 | 3,368 | ||||||||||||||||||||||||
Total accruing TDRs | $ | 31,518 | $ | 49,798 | $ | 2,071 | $ | 36,629 | $ | 120,016 | |||||||||||||||||||
As of December 31, 2011 | |||||||||||||||||||||||||||||
Non-accrual TDRs | Interest Deferral | Principal Deferral | Rate Reduction | Rate Reduction and Forgiveness of Principal | Rate Reduction and Payment Deferral | Total | |||||||||||||||||||||||
Commercial loans | $ | - | $ | 616 | $ | 1,859 | $ | 1,506 | $ | - | $ | 3,981 | |||||||||||||||||
Real estate construction loans | - | 13,579 | 12,376 | - | - | 25,955 | |||||||||||||||||||||||
Commercial mortgage loans | - | 9,727 | - | - | 5,076 | 17,436 | |||||||||||||||||||||||
Residential mortgage loans | - | 2,427 | 449 | - | 311 | 3,498 | |||||||||||||||||||||||
Total non-accrual TDRs | $ | - | $ | 26,349 | $ | 14,684 | $ | 1,506 | $ | 5,387 | $ | 50,870 | |||||||||||||||||
Troubled debt restructurings on accrual status totaled $117.6 million at December 31, 2013, and were comprised of 64 loans, a decrease of $27.1 million, compared to 61 loans totaling $144.7 million at December 31, 2012. TDRs at December 31, 2013, were comprised of 13 retail shopping and commercial use building loans of $44.2 million, ten office and commercial use building loans of $28.6 million, four hotel loans of $17.2 million, 25 single family residential loans of $20.0 million, two warehouses of $1.6 million, five commercial loans of $5.3 million, and five multi-family residential loans of $748,000. We expect that the troubled debt restructuring loans on accruing status as of December 31, 2013, which are all performing in accordance with their restructured terms, will continue to comply with the restructured terms because of the reduced principal or interest payments on these loans. The comparable TDRs at December 31, 2012, were comprised of 16 retail shopping and commercial use building loans of $68.1 million, 15 office and commercial use building loans of $40.4 million, two hotel loans of $12.4 million, 17 single family residential loans of $19.1 million, two land loans of $2.3 million, six commercial loans of $1.3 million, and three multi-family residential loans of $1.1 million. The activity within our TDR loans for 2013, 2012, and 2011 are shown below: | |||||||||||||||||||||||||||||
Accruing TDRs | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Beginning balance | $ | 144,695 | $ | 120,016 | $ | 136,800 | |||||||||||||||||||||||
New restructurings | 21,382 | 53,958 | 60,863 | ||||||||||||||||||||||||||
Restructured loans restored to accrual status | 6,851 | 8,356 | 709 | ||||||||||||||||||||||||||
Charge-offs | (78 | ) | (251 | ) | (2,341 | ) | |||||||||||||||||||||||
Payments | (52,362 | ) | (5,159 | ) | (46,313 | ) | |||||||||||||||||||||||
Restructured loans placed on non-accrual | (2,891 | ) | (32,225 | ) | (28,969 | ) | |||||||||||||||||||||||
Expiration of loan concession | - | - | (733 | ) | |||||||||||||||||||||||||
Ending balance | $ | 117,597 | $ | 144,695 | $ | 120,016 | |||||||||||||||||||||||
Non-accrual TDRs | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Beginning balance | $ | 47,731 | $ | 50,870 | $ | 28,146 | |||||||||||||||||||||||
New restructurings | 6,226 | 12,304 | 13,269 | ||||||||||||||||||||||||||
Restructured loans placed on non-accrual | 2,891 | 32,225 | 28,969 | ||||||||||||||||||||||||||
Charge-offs | (2,124 | ) | (4,182 | ) | (7,303 | ) | |||||||||||||||||||||||
Payments | (4,295 | ) | (33,931 | ) | (3,355 | ) | |||||||||||||||||||||||
Foreclosures | (4,809 | ) | (1,199 | ) | (8,147 | ) | |||||||||||||||||||||||
Restructured loans restored to accrual status | (6,851 | ) | (8,356 | ) | (709 | ) | |||||||||||||||||||||||
Ending balance | $ | 38,769 | $ | 47,731 | $ | 50,870 | |||||||||||||||||||||||
A loan is considered to be in payment default once it is 60 to 90 days contractually past due under the modified terms. There were no loans modified as TDRs during the previous twelve months that subsequently defaulted as of December 31, 2013. | |||||||||||||||||||||||||||||
Under the Company’s internal underwriting policy, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification in order to determine whether a borrower is experiencing financial difficulty. As of December 31, 2013, there were no commitments to lend additional funds to those borrowers whose loans have been restructured, were considered impaired, or were on non-accrual status. | |||||||||||||||||||||||||||||
As part of the on-going monitoring of the credit quality of our loan portfolio, the Company utilizes a risk grading matrix to assign a risk grade to each loan. Loans are risk rated based on analysis of the current state of the borrower’s credit quality. The analysis of credit quality includes a review of all sources of repayment, the borrower’s current financial and liquidity status and all other relevant information. The risk rating categories can be generally described by the following grouping for non-homogeneous loans: | |||||||||||||||||||||||||||||
● | Pass/Watch – These loans range from minimal credit risk to lower than average, but still acceptable, credit risk. | ||||||||||||||||||||||||||||
● | Special Mention – Borrower is fundamentally sound and the loan is currently protected but adverse trends are apparent that, if not corrected, may affect ability to repay. Primary source of loan repayment remains viable but there is increasing reliance on collateral or guarantor support. | ||||||||||||||||||||||||||||
● | Substandard – These loans are inadequately protected by current sound worth, paying capacity or pledged collateral. Well-defined weaknesses exist that could jeopardize repayment of debt. Loss may not be imminent, but if weaknesses are not corrected, there is a good possibility of some loss. | ||||||||||||||||||||||||||||
● | Doubtful – The possibility of loss is extremely high, but due to identifiable and important pending events (which may strengthen the loan) a loss classification is deferred until the situation is better defined. | ||||||||||||||||||||||||||||
● | Loss – These loans are considered uncollectible and of such little value that to continue to carry the loans as an active asset is no longer warranted. | ||||||||||||||||||||||||||||
The following tables present loan portfolio by risk rating as of December 31, 2013, and as of December 31, 2012: | |||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||
Pass/Watch | Special Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||
Commercial loans | $ | 2,108,191 | $ | 84,786 | $ | 102,088 | $ | 3,659 | $ | 2,298,724 | |||||||||||||||||||
Real estate construction loans | 184,449 | - | 33,939 | 3,313 | 221,701 | ||||||||||||||||||||||||
Commercial mortgage loans | 3,686,788 | 127,436 | 208,827 | - | 4,023,051 | ||||||||||||||||||||||||
Residential mortgage and equity lines | 1,510,647 | - | 15,885 | - | 1,526,532 | ||||||||||||||||||||||||
Installment and other loans | 14,555 | - | - | - | 14,555 | ||||||||||||||||||||||||
Total gross loans | $ | 7,504,630 | $ | 212,222 | $ | 360,739 | $ | 6,972 | $ | 8,084,563 | |||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||
Pass/Watch | Special Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||
Commercial loans | $ | 1,944,989 | $ | 76,776 | $ | 94,077 | $ | 11,265 | $ | 2,127,107 | |||||||||||||||||||
Real estate construction loans | 109,269 | 18,000 | 45,171 | 8,510 | 180,950 | ||||||||||||||||||||||||
Commercial mortgage loans | 3,344,783 | 162,455 | 261,214 | - | 3,768,452 | ||||||||||||||||||||||||
Residential mortgage and equity lines | 1,322,768 | 816 | 16,084 | 414 | 1,340,082 | ||||||||||||||||||||||||
Installment and other loans | 12,556 | - | - | - | 12,556 | ||||||||||||||||||||||||
Total gross loans | $ | 6,734,365 | $ | 258,047 | $ | 416,546 | $ | 20,189 | $ | 7,429,147 | |||||||||||||||||||
The allowance for loan losses and the reserve for off-balance sheet credit commitments are significant estimates that can and do change based on management’s process in analyzing the loan portfolio and on management’s assumptions about specific borrowers, underlying collateral, and applicable economic and environmental conditions, among other factors. | |||||||||||||||||||||||||||||
The following table presents the balance in the allowance for loan losses by portfolio segment and based on impairment method as of December 31, 2013, December 31, 2012, and December 31, 2011. | |||||||||||||||||||||||||||||
Commercial | Real Estate | Commercial | Residential | Consumer | Total | ||||||||||||||||||||||||
Loans | Construction | Mortgage | Mortgage | and Other | |||||||||||||||||||||||||
Loans | Loans | and Equity Lines | |||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | |||||||||||||||||||||||||||||
Allowance | $ | 2,519 | $ | 3,460 | $ | 6,584 | $ | 721 | $ | - | $ | 13,284 | |||||||||||||||||
Balance | $ | 31,968 | $ | 34,420 | $ | 114,544 | $ | 19,848 | $ | - | $ | 200,780 | |||||||||||||||||
Loans collectively evaluated for impairment | |||||||||||||||||||||||||||||
Allowance | $ | 62,584 | $ | 8,539 | $ | 78,169 | $ | 11,284 | $ | 29 | $ | 160,605 | |||||||||||||||||
Balance | $ | 2,266,756 | $ | 187,281 | $ | 3,908,507 | $ | 1,506,684 | $ | 14,555 | $ | 7,883,783 | |||||||||||||||||
Total allowance | $ | 65,103 | $ | 11,999 | $ | 84,753 | $ | 12,005 | $ | 29 | $ | 173,889 | |||||||||||||||||
Total balance | $ | 2,298,724 | $ | 221,701 | $ | 4,023,051 | $ | 1,526,532 | $ | 14,555 | $ | 8,084,563 | |||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | |||||||||||||||||||||||||||||
Allowance | $ | 1,467 | $ | 8,158 | $ | 1,336 | $ | 1,222 | $ | - | $ | 12,183 | |||||||||||||||||
Balance | $ | 23,922 | $ | 42,133 | $ | 165,885 | $ | 16,657 | $ | - | $ | 248,597 | |||||||||||||||||
Loans collectively evaluated for impairment | |||||||||||||||||||||||||||||
Allowance | $ | 64,634 | $ | 14,859 | $ | 81,137 | $ | 10,481 | $ | 28 | $ | 171,139 | |||||||||||||||||
Balance | $ | 2,103,185 | $ | 138,817 | $ | 3,602,567 | $ | 1,323,425 | $ | 12,556 | $ | 7,180,550 | |||||||||||||||||
Total allowance | $ | 66,101 | $ | 23,017 | $ | 82,473 | $ | 11,703 | $ | 28 | $ | 183,322 | |||||||||||||||||
Total balance | $ | 2,127,107 | $ | 180,950 | $ | 3,768,452 | $ | 1,340,082 | $ | 12,556 | $ | 7,429,147 | |||||||||||||||||
31-Dec-11 | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | |||||||||||||||||||||||||||||
Allowance | $ | 3,336 | $ | - | $ | 2,969 | $ | 1,247 | $ | - | $ | 7,552 | |||||||||||||||||
Balance | $ | 45,781 | $ | 78,766 | $ | 177,058 | $ | 20,368 | $ | - | $ | 321,973 | |||||||||||||||||
Loans collectively evaluated for impairment | |||||||||||||||||||||||||||||
Allowance | $ | 62,322 | $ | 21,749 | $ | 105,052 | $ | 9,548 | $ | 57 | $ | 198,728 | |||||||||||||||||
Balance | $ | 1,822,494 | $ | 158,606 | $ | 3,571,839 | $ | 1,166,601 | $ | 17,699 | $ | 6,737,239 | |||||||||||||||||
Total allowance | $ | 65,658 | $ | 21,749 | $ | 108,021 | $ | 10,795 | $ | 57 | $ | 206,280 | |||||||||||||||||
Total balance | $ | 1,868,275 | $ | 237,372 | $ | 3,748,897 | $ | 1,186,969 | $ | 17,699 | $ | 7,059,212 | |||||||||||||||||
The following table details activity in the allowance for loan losses by portfolio segment for the years ended December 31, 2013, 2012, and 2011. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. | |||||||||||||||||||||||||||||
Commercial | Real Estate | Commercial | Residential | Installment | Total | ||||||||||||||||||||||||
Loans | Construction | Mortgage | Mortgage | and Other | |||||||||||||||||||||||||
Loans | Loans | and Equity Lines | Loans | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
2011 Beginning Balance | $ | 63,918 | $ | 43,262 | $ | 128,348 | $ | 9,668 | $ | 35 | $ | 245,231 | |||||||||||||||||
Provision for possible loan losses | 11,711 | 11,514 | 1,454 | 2,392 | 197 | 27,268 | |||||||||||||||||||||||
Charge-offs | (11,745 | ) | (37,500 | ) | (26,750 | ) | (1,456 | ) | (175 | ) | (77,626 | ) | |||||||||||||||||
Recoveries | 1,774 | 4,473 | 4,969 | 191 | - | 11,407 | |||||||||||||||||||||||
Net Charge-offs | (9,971 | ) | (33,027 | ) | (21,781 | ) | (1,265 | ) | (175 | ) | (66,219 | ) | |||||||||||||||||
2011 Ending Balance | $ | 65,658 | $ | 21,749 | $ | 108,021 | $ | 10,795 | $ | 57 | $ | 206,280 | |||||||||||||||||
Reserve to impaired loans | $ | 3,336 | $ | - | $ | 2,969 | $ | 1,247 | $ | - | $ | 7,552 | |||||||||||||||||
Reserve to non-impaired loans | $ | 62,322 | $ | 21,749 | $ | 105,052 | $ | 9,548 | $ | 57 | $ | 198,728 | |||||||||||||||||
Reserve for off-balance sheet credit commitments | $ | 816 | $ | 1,103 | $ | 113 | $ | 34 | $ | 3 | $ | 2,069 | |||||||||||||||||
2012 Beginning Balance | $ | 65,658 | $ | 21,749 | $ | 108,021 | $ | 10,795 | $ | 57 | $ | 206,280 | |||||||||||||||||
Provision/(reversal) for possible loan losses | 16,201 | (3,720 | ) | (23,128 | ) | 2,360 | (7 | ) | (8,294 | ) | |||||||||||||||||||
Charge-offs | (17,707 | ) | (1,165 | ) | (11,762 | ) | (2,132 | ) | (25 | ) | (32,791 | ) | |||||||||||||||||
Recoveries | 1,949 | 6,153 | 9,342 | 680 | 3 | 18,127 | |||||||||||||||||||||||
Net Charge-offs | (15,758 | ) | 4,988 | (2,420 | ) | (1,452 | ) | (22 | ) | (14,664 | ) | ||||||||||||||||||
2012 Ending Balance | $ | 66,101 | $ | 23,017 | $ | 82,473 | $ | 11,703 | $ | 28 | $ | 183,322 | |||||||||||||||||
Reserve to impaired loans | $ | 1,467 | $ | 8,158 | $ | 1,336 | $ | 1,222 | $ | - | $ | 12,183 | |||||||||||||||||
Reserve to non-impaired loans | $ | 64,634 | $ | 14,859 | $ | 81,137 | $ | 10,481 | $ | 28 | $ | 171,139 | |||||||||||||||||
Reserve for off-balance sheet credit commitments | $ | 837 | $ | 390 | $ | 98 | $ | 34 | $ | 3 | $ | 1,362 | |||||||||||||||||
2013 Beginning Balance | $ | 66,101 | $ | 23,017 | $ | 82,473 | $ | 11,703 | $ | 28 | $ | 183,322 | |||||||||||||||||
Provision/(reversal) for possible loan losses | 11,888 | (13,302 | ) | (2,500 | ) | 924 | (10 | ) | (3,000 | ) | |||||||||||||||||||
Charge-offs | (15,625 | ) | - | (3,945 | ) | (872 | ) | - | (20,442 | ) | |||||||||||||||||||
Recoveries | 2,739 | 2,284 | 8,725 | 250 | 11 | 14,009 | |||||||||||||||||||||||
Net Charge-offs | (12,886 | ) | 2,284 | 4,780 | (622 | ) | 11 | (6,433 | ) | ||||||||||||||||||||
2013 Ending Balance | $ | 65,103 | $ | 11,999 | $ | 84,753 | $ | 12,005 | $ | 29 | $ | 173,889 | |||||||||||||||||
Reserve to impaired loans | $ | 2,519 | $ | 3,460 | $ | 6,584 | $ | 721 | $ | - | $ | 13,284 | |||||||||||||||||
Reserve to non-impaired loans | $ | 62,584 | $ | 8,539 | $ | 78,169 | $ | 11,284 | $ | 29 | $ | 160,605 | |||||||||||||||||
Reserve for off-balance sheet credit commitments | $ | 909 | $ | 304 | $ | 111 | $ | 34 | $ | 1 | $ | 1,359 | |||||||||||||||||
An analysis of the activity in the allowance for credit losses for the years ended December 31, 2013, 2012, and 2011 is as follows: | |||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||
Balance at beginning of year | $ | 183,322 | $ | 206,280 | $ | 245,231 | |||||||||||||||||||||||
(Reversal)/provision for credit losses | (3,000 | ) | (9,000 | ) | 27,000 | ||||||||||||||||||||||||
Transfers from reserve for off-balance sheet credit commitments | - | 706 | 268 | ||||||||||||||||||||||||||
Loans charged off | (20,442 | ) | (32,791 | ) | (77,626 | ) | |||||||||||||||||||||||
Recoveries of charged off loans | 14,009 | 18,127 | 11,407 | ||||||||||||||||||||||||||
Balance at end of year | $ | 173,889 | $ | 183,322 | $ | 206,280 | |||||||||||||||||||||||
Reserve for Off-balance Sheet Credit Commitments | |||||||||||||||||||||||||||||
Balance at beginning of year | $ | 1,363 | $ | 2,069 | $ | 2,337 | |||||||||||||||||||||||
Provision for credit losses/transfers | - | (706 | ) | (268 | ) | ||||||||||||||||||||||||
Balance at end of year | $ | 1,363 | $ | 1,363 | $ | 2,069 | |||||||||||||||||||||||
Note_6_Other_Real_Estate_Owned
Note 6 - Other Real Estate Owned | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||
Real Estate Owned [Text Block] | ' | ||||||||||||
6. Other Real Estate Owned | |||||||||||||
At December 31, 2013, the net carrying value of other real estate owned (“OREO”) increased $6.6 million, or 14.2%, to $53.0 million from $46.4 million at December 31, 2012. OREO located in California was $10.9 million and was comprised primarily of eight parcels of land zoned for residential purpose of $9.0 million, three commercial use buildings of $564,000, three commercial building construction projects of $635,000, one residential construction project of $530,000, and one parcel of land zoned for commercial purpose of $235,000. OREO located in Texas was $27.3 million and was comprised of three office and commercial use buildings of $12.5 million, six parcels of land zoned for residential purposes of $12.7 million, four commercial building construction projects of $1.3 million and a retail store of $766,000. OREO located in the state of Washington was $6.5 million and was comprised three parcels of land zoned for residential purpose of $667,000 and one office and commercial use building of $5.8 million. OREO located in the state of New York was one office and commercial use building $893,000. OREO located in the state of North Carolina was one commercial use building of $4.1 million. OREO located in Illinois was $3.3 million and was comprised of one condominium property of $2.4 million, two commercial use properties of $639,000 and one residential property of $202,000. | |||||||||||||
For 2012, OREO located in California was $12.2 million and was comprised primarily of six parcels of land zoned for residential purpose of $9.1 million, three office and commercial use buildings of $1.7 million, one commercial building construction project of $740,000, one residential construction project of $530,000, and one single family residential property of $179,000. OREO located in Texas was $29.6 million and was comprised of four office and commercial use buildings of $14.4 million, four parcels of land zoned for residential purposes of $12.6 million, two commercial building construction projects of $1.3 million, one parcel of land zoned for non-residential purposes of $1.1 million, and one single family residential property of $169,000. OREO located in the state of Washington was $1.6 million and was comprised of one parcel of land zoned for residential purpose of $733,000 and one commercial construction project of $870,000. OREO located in the state of New York was a retail store of $1.2 million. OREO located in the state of Nevada was $1.1 million and was comprised of a commercial use building. OREO in all other states was $752,000 and was comprised of a commercial use property and a retail store. | |||||||||||||
An analysis of the activity in the valuation allowance for other real estate losses for the years ended December 31, 2013, 2012, and 2011 is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Balance, beginning of year | $ | 19,556 | $ | 26,422 | $ | 25,310 | |||||||
(Reversal)/provision for losses | (2,122 | ) | 10,668 | 10,385 | |||||||||
OREO disposal | (4,050 | ) | (17,534 | ) | (9,273 | ) | |||||||
Balance, end of year | $ | 13,384 | $ | 19,556 | $ | 26,422 | |||||||
The following table presents the components of other real estate owned expense for the years ended December 31, 2013, 2012, and 2011: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Operating expense | $ | 3,680 | $ | 4,817 | $ | 5,441 | |||||||
(Reversal)/provision for losses | (2,122 | ) | 10,668 | 10,385 | |||||||||
Net gain on transfers and disposals | (1,793 | ) | (369 | ) | (5,243 | ) | |||||||
Total other real estate owned expense | $ | (235 | ) | $ | 15,116 | $ | 10,583 | ||||||
Note_7_Investments_in_Affordab
Note 7 - Investments in Affordable Housing | 12 Months Ended |
Dec. 31, 2013 | |
Investments In Affordable Housing [Abstract] | ' |
Investments In Affordable Housing [Text Block] | ' |
7. Investments in Affordable Housing | |
The Company has invested in certain limited partnerships that were formed to develop and operate housing for lower-income tenants throughout the United States. The Company’s investments in these partnerships were $84.1 million at December 31, 2013, and $85.0 million at December 31, 2012. At December 31, 2013, and December 31, 2012, six of the limited partnerships in which the Company has an equity interest were determined to be variable interest entities for which the Company is the primary beneficiary. The consolidation of these limited partnerships in the Company’s Consolidated Financial Statements increased total assets and liabilities by $23.8 million at December 31, 2013, and by $22.9 million at December 31, 2012. Other borrowings for affordable housing limited partnerships were $19.1 million at December 31, 2013, and $18.7 million at December 31, 2012; recourse is limited to the assets of the limited partnerships. Unfunded commitments for affordable housing limited partnerships of $7.0 million as of December 31, 2013, and $10.6 million as of December 31, 2012, were recorded under other liabilities. | |
Each of the partnerships must meet regulatory requirements for affordable housing for a minimum 15-year compliance period to fully utilize the tax credits. If the partnerships cease to qualify during the compliance period, the credits may be denied for any period in which the projects are not in compliance and a portion of the credits previously taken is subject to recapture with interest. The remaining tax credits to be utilized over a multiple-year period are $41.8 million for Federal and $1.6 million for state at December 31, 2013. The Company’s usage of tax credits approximated $9.8 million in 2013, $9.2 million in 2012, and $9.5 million in 2011. Losses in excess of the Bank’s investment in two limited partnerships have not been recorded in the Company’s Consolidated Financial Statements because the Company had fully satisfied all capital commitments required under the respective limited partnership agreements. |
Note_8_Premises_and_Equipment
Note 8 - Premises and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | ||||||||
8. Premises and Equipment | |||||||||
Premises and equipment consisted of the following as of December 31, 2013, and December 31, 2012: | |||||||||
As of December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Land and land improvements | $ | 33,441 | $ | 33,429 | |||||
Building and building improvements | 73,756 | 73,723 | |||||||
Furniture, fixtures and equipment | 44,278 | 39,701 | |||||||
Leasehold improvement | 12,753 | 12,391 | |||||||
Construction in process | 1,160 | 38 | |||||||
165,388 | 159,282 | ||||||||
Less: Accumulated depreciation/amortization | 63,343 | 56,669 | |||||||
Premises and equipment, net | $ | 102,045 | $ | 102,613 | |||||
The amount of depreciation/amortization included in operating expense was $6.9 million in 2013, $5.9 million in 2012, and $6.1 million in 2011. |
Note_9_Deposits
Note 9 - Deposits | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||||||
Deposit Liabilities Disclosures [Text Block] | ' | ||||||||||||||||||||||||||||
9. Deposits | |||||||||||||||||||||||||||||
The following table displays deposit balances as of December 31, 2013, and December 31, 2012: | |||||||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Demand | $ | 1,441,858 | $ | 1,269,455 | |||||||||||||||||||||||||
NOW accounts | 683,873 | 593,133 | |||||||||||||||||||||||||||
Money market accounts | 1,286,338 | 1,186,771 | |||||||||||||||||||||||||||
Saving accounts | 499,520 | 473,805 | |||||||||||||||||||||||||||
Time deposits under $100,000 | 931,204 | 644,191 | |||||||||||||||||||||||||||
Time deposits of $100,000 or more | 3,138,512 | 3,215,870 | |||||||||||||||||||||||||||
Total | $ | 7,981,305 | $ | 7,383,225 | |||||||||||||||||||||||||
Time deposits outstanding as of December 31, 2013, mature as follows. | |||||||||||||||||||||||||||||
Expected Maturity Date at December 31, | |||||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Time deposits, $100,000 and over | $ | 2,851,050 | $ | 140,973 | $ | 70,053 | $ | 20,867 | $ | 55,569 | $ | - | $ | 3,138,512 | |||||||||||||||
Other time deposits | 574,695 | 118,913 | 84,653 | 36,734 | 116,198 | 11 | 931,204 | ||||||||||||||||||||||
$ | 3,425,745 | $ | 259,886 | $ | 154,706 | $ | 57,601 | $ | 171,767 | $ | 11 | $ | 4,069,716 | ||||||||||||||||
Accrued interest payable on customer deposits was $2.0 million at December 31, 2013, $2.1 million at December 31, 2012, and $4.2 million at December 31, 2011. The following table summarizes the interest expense on deposits by account type for the years ended December 31, 2013, 2012, and 2011: | |||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Interest bearing demand | $ | 1,017 | $ | 792 | $ | 756 | |||||||||||||||||||||||
Money market accounts | 7,034 | 5,938 | 7,351 | ||||||||||||||||||||||||||
Saving accounts | 374 | 365 | 482 | ||||||||||||||||||||||||||
Time deposits | 31,964 | 40,278 | 53,625 | ||||||||||||||||||||||||||
Total | $ | 40,389 | $ | 47,373 | $ | 62,214 | |||||||||||||||||||||||
Note_10_Borrowed_Funds
Note 10 - Borrowed Funds | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Debt Disclosure [Text Block] | ' | ||||||||||||||||||||||||
10. Borrowed Funds | |||||||||||||||||||||||||
Federal Funds Purchased. There were no Federal funds purchased at any time during 2013 or 2012. The average amount of Federal funds purchased during 2011 was $27,000 with a weighted average interest rate of 1.29%. | |||||||||||||||||||||||||
Securities Sold under Agreements to Repurchase. Securities sold under agreements to repurchase were $800.0 million with a weighted average rate of 3.87% at December 31, 2013, compared to $1.3 billion with a weighted average rate of 3.84% at December 31, 2012. In 2013, the Company prepaid securities sold under agreements to repurchase totaling $450 million with a weighted average rate of 3.79% and incurred prepayment penalties of $22.6 million. In 2012, the Company modified $200.0 million of securities sold under agreements to repurchase by extending the term by an additional four years on average, reducing the rate by an average of 168 basis points and removing the callable feature of these borrowings. In 2012, the Company prepaid three securities sold under an agreement to repurchase for a total of $150 million with a weighted average rate of 4.43% and incurred prepayment penalties of $9.4 million. In May 2011, the Company prepaid a security sold under an agreement to repurchase of $50 million with a rate of 4.83% and incurred a prepayment penalty of $1.7 million. Five floating-to-fixed rate agreements totaling $300.0 million have initial floating rates for a period of time ranging from six months to one year, with floating rates ranging from the three-month LIBOR rate minus 200 basis points to the three-month LIBOR rate minus 340 basis points. Thereafter, the rates are fixed for the remainder of the term, with interest rates ranging from 4.78% to 5.07%. After the initial floating rate term, the counter parties have the right to terminate the transaction at par at the fixed rate reset date and quarterly thereafter. Six fixed-to-floating rate agreements totaling $300.0 million have initial fixed rates ranging from 1.00% to 3.50% with initial fixed rate terms ranging from six months to 12 months. For the remaining term, the rates float at 8% minus the three-month LIBOR rate with a maximum rate ranging from 3.50% to 3.75% and a minimum rate of 0.0%. After the initial fixed rate term, the counter parties have the right to terminate the transaction at par at the floating rate reset date and quarterly thereafter. The table below provides summary data for the $600 million of callable securities sold under agreements to repurchase as of December 31, 2013: | |||||||||||||||||||||||||
(Dollars in millions) | Fixed-to-floating | Floating-to-fixed | Total | ||||||||||||||||||||||
Rate type | Float Rate | Fixed Rate | |||||||||||||||||||||||
Rate index | 8% minus 3 month LIBOR | ||||||||||||||||||||||||
Maximum rate | 3.75 | % | 3.5 | % | 3.5 | % | |||||||||||||||||||
Minimum rate | 0 | % | 0 | % | 0 | % | |||||||||||||||||||
No. of agreements | 1 | 2 | 3 | 1 | 4 | 11 | |||||||||||||||||||
Amount | $ | 50 | $ | 100 | $ | 150 | $ | 100 | $ | 200 | $ | 600 | |||||||||||||
Weighted average rate | 3.75 | % | 3.5 | % | 3.5 | % | 4.78 | % | 5 | % | 4.24 | % | |||||||||||||
Final maturity | 2014 | 2014 | 2015 | 2014 | 2017 | ||||||||||||||||||||
The table below provides summary data for non-callable fixed rate securities sold under agreements to repurchase as of December 31, 2013: | |||||||||||||||||||||||||
Maturity | No. of | Amount | Weighted Average | ||||||||||||||||||||||
Agreements | (In thousands) | Interest Rate | |||||||||||||||||||||||
1 year to 3 years | 1 | $ | 50,000 | 2.69 | % | ||||||||||||||||||||
3 years to 5 years | 3 | $ | 150,000 | 2.81 | % | ||||||||||||||||||||
Total | 4 | $ | 200,000 | 2.78 | % | ||||||||||||||||||||
These transactions are accounted for as collateralized financing transactions and recorded at the amount at which the securities were sold. We may have to provide additional collateral for the repurchase agreements, as necessary. The underlying collateral pledged for the repurchase agreements consists of U.S. Treasury securities, and mortgage-backed securities with a fair value of $906.1 million as of December 31, 2013, and $1.4 billion as of December 31, 2012. | |||||||||||||||||||||||||
The table below provides comparative data for securities sold under agreements to repurchase for the years indicated: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Average amount outstanding during the year (1) | $ | 972,329 | $ | 1,361,475 | $ | 1,448,363 | |||||||||||||||||||
Maximum amount outstanding at month-end (2) | 1,200,000 | 1,400,000 | 1,559,000 | ||||||||||||||||||||||
Balance, December 31 | 800,000 | 1,250,000 | 1,400,000 | ||||||||||||||||||||||
Rate, December 31 | 3.87 | % | 3.84 | % | 4.14 | % | |||||||||||||||||||
Weighted average interest rate for the year | 3.88 | % | 4.09 | % | 4.19 | % | |||||||||||||||||||
-1 | Average balances were computed using daily averages. | ||||||||||||||||||||||||
-2 | Highest month-end balances were January 2013, January 2012, and January 2011. | ||||||||||||||||||||||||
Advances from the Federal Home Loan Bank. Advances from the FHLB were $521.2 million with a weighted average rate of 0.17% at December 31, 2013, compared to $146.2 million with weighted average rate of 0.44% at December 31, 2012. In 2012, the Company prepaid $100.0 million of advances with a rate of 4.60% from the FHLB and incurred prepayment penalties of $2.8 million. | |||||||||||||||||||||||||
The following relates to the outstanding advances at December 31, 2013, and 2012: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Maturity | Amount | Weighted Average | Amount | Weighted Average | |||||||||||||||||||||
(In thousands) | Interest Rate | (In thousands) | Interest Rate | ||||||||||||||||||||||
Within 90 days | $ | 475,000 | 0.06 | % | $ | 125,000 | 0.28 | % | |||||||||||||||||
4 - 5 years | 46,200 | 1.24 | % | 21,200 | 1.38 | % | |||||||||||||||||||
$ | 521,200 | 0.17 | % | $ | 146,200 | 0.44 | % | ||||||||||||||||||
Other Liabilities. On November 23, 2004, the Company entered into an agreement with its Chief Executive Officer (“CEO”) pursuant to which the CEO agreed to defer any bonus amounts in excess of $225,000 for the year ended December 31, 2005, until January 1 of the first year following such time as the CEO separates from the Company. Accordingly, an amount equal to $610,000 was deferred in 2004 and was accrued in other liabilities in the consolidated balance sheet. The Company agreed to accrue interest on the deferred portion of the bonus at 7.0% per annum compounded quarterly. The deferred amount will be increased each quarter by the amount of interest computed for that quarter. Beginning on the tenth anniversary of the agreement, the interest rate will equal 275 basis points above the prevailing interest rate on the ten-year Treasury Note. Interest of $77,000 during 2013, $71,000 during 2012, and $67,000 during 2011 was accrued on this deferred bonus. The balance was $1.1 million at December 31, 2013, and $1.1 million at December 31, 2012. |
Note_11_Capital_Resources
Note 11 - Capital Resources | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||||||||||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||||||
11. Capital Resources | |||||||||||||||||||||||||||||||||
The Company participated in the U.S. Treasury’s Troubled Asset Relief Program Capital Purchase Program under the Emergency Economic Stabilization Act of 2008. Upon the approval of participation, the U.S. Treasury purchased the Company’s senior preferred stock on December 5, 2008, in the amount of $258.0 million. The senior preferred stock pays cumulative compounding dividends at a rate of 5% per year for the first five years, and thereafter at a rate of 9% per year. The shares are non-voting, other than class voting rights on matters that could adversely affect the shares. They are callable at par after three years. In conjunction with the purchase of senior preferred shares, the U.S. Treasury received warrants to purchase 1,846,374 shares of common stock at the exercise price of $20.96 with an aggregate market price equal to $38.7 million, 15% of the senior preferred stock amount that U.S. Treasury invested. In 2013, the Company redeemed all $258 million Series B Preferred Stock issued under the U.S. Treasury's TARP Capital Purchase Program. On December 9, 2013, the U.S. Treasury sold all of the warrants that it held for $13.1 million, or $7.20 per warrant, through a secondary public offering. | |||||||||||||||||||||||||||||||||
On September 29, 2006, the Bank issued $50.0 million in subordinated debt in a private placement transaction. The debt had an original maturity term of 10 years, was unsecured and bore interest at a rate of three-month LIBOR plus 110 basis points, payable on a quarterly basis. In March 2011, the Company extended the debt for an additional year. As part of the extension agreement, the rate was increased from LIBOR plus 110 basis points to LIBOR plus 330 basis points for 2012 and 2011, after which time it reverts back to LIBOR plus 110 basis points. The per annum interest rate on the subordinated debt was 3.61% at December 31, 2012. In December 2013, the subordinated debt was repaid in full with a prepayment penalty of $2,000. | |||||||||||||||||||||||||||||||||
The Bancorp established three special purpose trusts in 2003 and two in 2007 for the purpose of issuing trust preferred securities to outside investors (“Capital Securities”). The trusts exist for the purpose of issuing the Capital Securities and investing the proceeds thereof, together with proceeds from the purchase of the common securities of the trusts by the Bancorp, in Junior Subordinated Notes issued by the Bancorp. Subject to some limitations, payment of distributions out of the monies held by the trusts and payments on liquidation of the trusts or the redemption of the Capital Securities are guaranteed by the Bancorp to the extent the trusts have funds on hand at such time. The obligations of the Bancorp under the guarantees and the Junior Subordinated Notes are subordinate and junior in right of payment to all indebtedness of the Bancorp and will be structurally subordinated to all liabilities and obligations of the Bancorp’s subsidiaries. The Bancorp has the right to defer payments of interest on the Junior Subordinated Notes at any time or from time to time for a period of up to twenty consecutive quarterly periods with respect to each deferral period. Under the terms of the Junior Subordinated Notes, the Bancorp may not, with certain exceptions, declare or pay any dividends or distributions on its capital stock or purchase or acquire any of its capital stock if the Bancorp has deferred payment of interest on the Junior Subordinated Notes. | |||||||||||||||||||||||||||||||||
The five special purpose trusts are considered variable interest entities. Because the Bancorp is not the primary beneficiary of the trusts, the financial statements of the trusts are not included in the Consolidated Financial Statements of the Company. The Junior Subordinated Notes are currently included in the Tier 1 capital of the Bancorp for regulatory capital purposes. Interest expense on the Junior Subordinated Notes was $3.0 million for 2013, $3.2 million for 2012, and $3.0 million for 2011. | |||||||||||||||||||||||||||||||||
The table below summarizes the outstanding Junior Subordinated Notes issued by the Company to each trust as of December 31, 2013: | |||||||||||||||||||||||||||||||||
Trust Name | Issuance | Principal | Not | Stated | Annualized | Current | Date of | Payable/ | |||||||||||||||||||||||||
Date | Balance of | Redeemable | Maturity | Coupon Rate | Interest | Rate | Distribution | ||||||||||||||||||||||||||
Notes | Until | Rate | Change | Date | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Cathay Capital Trust I | June 26, | $ | 20,619 | June 30, | June 30, | 3-month | 3.4 | % | December 30, | 30-Mar | |||||||||||||||||||||||
2003 | 2008 | 2033 | LIBOR | 2013 | 30-Jun | ||||||||||||||||||||||||||||
3.15% | 30-Sep | ||||||||||||||||||||||||||||||||
30-Dec | |||||||||||||||||||||||||||||||||
Cathay Statutory Trust I | September 17, | 20,619 | September 17, | September 17, | 3-month | 3.24 | % | December 17, | 17-Mar | ||||||||||||||||||||||||
2003 | 2008 | 2033 | LIBOR | 2013 | 17-Jun | ||||||||||||||||||||||||||||
3.00% | 17-Sep | ||||||||||||||||||||||||||||||||
17-Dec | |||||||||||||||||||||||||||||||||
Cathay Capital Trust II | December 30, | 12,887 | March 30, | March 30, | 3-month | 3.15 | % | December 30, | 30-Mar | ||||||||||||||||||||||||
2003 | 2009 | 2034 | LIBOR | 2013 | 30-Jun | ||||||||||||||||||||||||||||
2.90% | 30-Sep | ||||||||||||||||||||||||||||||||
30-Dec | |||||||||||||||||||||||||||||||||
Cathay Capital Trust III | March 28, | 46,392 | June 15, | June 15, | 3-month | 1.72 | % | December 16, | 15-Mar | ||||||||||||||||||||||||
2007 | 2012 | 2037 | LIBOR | 2013 | 15-Jun | ||||||||||||||||||||||||||||
1.48% | 15-Sep | ||||||||||||||||||||||||||||||||
15-Dec | |||||||||||||||||||||||||||||||||
Cathay Capital Trust IV | May 31, | 20,619 | September 6, | September 6, | 3-month | 1.64 | % | December 6, | 6-Mar | ||||||||||||||||||||||||
2007 | 2012 | 2037 | LIBOR | 2013 | 6-Jun | ||||||||||||||||||||||||||||
1.40% | 6-Sep | ||||||||||||||||||||||||||||||||
6-Dec | |||||||||||||||||||||||||||||||||
Total Junior Subordinated Notes | $ | 121,136 | |||||||||||||||||||||||||||||||
Note_12_Income_Taxes
Note 12 - Income Taxes | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||||||||||||||||||
12. Income Taxes | |||||||||||||||||||||||||
For the years ended December 31, 2013, 2012, and 2011, the current and deferred amounts of the income tax expense are summarized as follows: | |||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Current: | |||||||||||||||||||||||||
Federal | $ | 62,254 | $ | 44,263 | $ | 26,548 | |||||||||||||||||||
State | 23,295 | 17,081 | 10,905 | ||||||||||||||||||||||
$ | 85,549 | $ | 61,344 | $ | 37,453 | ||||||||||||||||||||
Deferred: | |||||||||||||||||||||||||
Federal | (11,162 | ) | 3,755 | 10,133 | |||||||||||||||||||||
State | (3,952 | ) | 1,029 | 3,675 | |||||||||||||||||||||
$ | (15,114 | ) | $ | 4,784 | $ | 13,808 | |||||||||||||||||||
Total income tax expense/(benefit) | $ | 70,435 | $ | 66,128 | $ | 51,261 | |||||||||||||||||||
Temporary differences between the amounts reported in the financial statements and the tax basis of assets and liabilities give rise to deferred taxes. Net deferred tax assets at December 31, 2013, and at December 31, 2012, are included in other assets in the accompanying Consolidated Balance Sheets and are as follows: | |||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Deferred Tax Assets | |||||||||||||||||||||||||
Loan loss allowance, due to differences in computation of bad debts | $ | 89,560 | $ | 100,774 | |||||||||||||||||||||
Write-down on equity securities and venture capital investments | 2,857 | 3,374 | |||||||||||||||||||||||
Share-based compensation | 13,573 | 16,120 | |||||||||||||||||||||||
State tax | 6,493 | 4,479 | |||||||||||||||||||||||
Non-accrual interest | 3,968 | 3,208 | |||||||||||||||||||||||
Write-down on other real estate owned | 8,595 | 10,302 | |||||||||||||||||||||||
Accrual for bonuses | 3,380 | 432 | |||||||||||||||||||||||
Accrual for litigation | 2,415 | 2,415 | |||||||||||||||||||||||
Unrealized loss on interest rate swaps | - | 175 | |||||||||||||||||||||||
Unrealized loss on securities available-for-sale, net | 21,569 | - | |||||||||||||||||||||||
Other, net | 4,214 | 2,937 | |||||||||||||||||||||||
Gross deferred tax assets | 156,624 | 144,216 | |||||||||||||||||||||||
Deferred Tax Liabilities | |||||||||||||||||||||||||
Core deposit intangibles | - | (1,632 | ) | ||||||||||||||||||||||
Investment in aircraft financing trust and venture capital partnerships | - | (19,684 | ) | ||||||||||||||||||||||
Unrealized gain on securities available-for-sale, net | - | (338 | ) | ||||||||||||||||||||||
Basis difference in acquired assets | (3,138 | ) | (3,145 | ) | |||||||||||||||||||||
Dividends on Federal Home Loan Bank common stock | (2,986 | ) | (3,071 | ) | |||||||||||||||||||||
Other, net | (2,773 | ) | (1,939 | ) | |||||||||||||||||||||
Gross deferred tax liabilities | (8,897 | ) | (29,809 | ) | |||||||||||||||||||||
Valuation allowance | (1,263 | ) | (2,125 | ) | |||||||||||||||||||||
Net deferred tax assets | $ | 146,464 | $ | 112,282 | |||||||||||||||||||||
Amounts for the current year are based upon estimates and assumptions and could vary from amounts shown on the tax returns as filed. | |||||||||||||||||||||||||
In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent on the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the projected future taxable income and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not the Company will realize all benefits related to these deductible temporary differences except for $1.3 million of state deferred taxes for a portion of the capital losses related to the Company’s former investments in the preferred stock of Fannie Mae and Freddie Mac. | |||||||||||||||||||||||||
As of December 31, 2013 and 2012, the Company had income tax refunds receivables of $8.6 million and $12.4 million, respectively. These income tax receivables are included in other assets in the accompanying Consolidated Balance Sheets. At December 31, 2013, the Company had Federal net operating loss carry forwards of approximately $1.1 million which expire through 2022. The Federal net operating loss carry-forwards were acquired in connection with the Company’s acquisition of United Heritage Bank. | |||||||||||||||||||||||||
At both December 31, 2013 and 2012, there were no unrecognized tax benefits. During 2012, the Company reversed its unrecognized tax benefits during the filing of the Company’s 2011 tax returns, During 2011, the Company paid $0.1 million of state taxes previously recorded in unrecognized tax benefits. The Company had accrued interest and penalties of less than $0.1 million at December 31, 2013 and 2012. | |||||||||||||||||||||||||
The Company’s tax returns are open for audits by the Internal Revenue Service back to 2010 and by the California Franchise Tax Board back to 2003. The Company is under audit by the California Franchise Tax Board for the years 2003 to 2007. As the Company is presently under audit by a number of tax authorities, it is reasonably possible that unrecognized tax benefits could change significantly over the next twelve months. The Company does not expect that any such changes would have a material impact on its annual effective tax rate. | |||||||||||||||||||||||||
Income tax expense results in effective tax rates that differ from the statutory Federal income tax rate for the years indicated as follows: | |||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Tax provision at Federal statutory rate | $ | 67,752 | 35 | % | $ | 64,248 | 35 | % | $ | 52,994 | 35 | % | |||||||||||||
State income taxes, net of Federal income tax benefit | 12,573 | 6.5 | 11,772 | 6.4 | 9,477 | 6.3 | |||||||||||||||||||
Interest on obligations of state and political subdivisions, which are exempt from Federal taxation | (348 | ) | (0.2 | ) | (1,456 | ) | (0.8 | ) | (1,476 | ) | (1.0 | ) | |||||||||||||
Low income housing and other tax credits | (10,056 | ) | (5.2 | ) | (9,353 | ) | (5.1 | ) | (10,087 | ) | (6.6 | ) | |||||||||||||
Other, net | 514 | 0.3 | 917 | 0.5 | 353 | 0.2 | |||||||||||||||||||
Total income tax expense/(benefit) | $ | 70,435 | 36.4 | % | $ | 66,128 | 36 | % | $ | 51,261 | 33.9 | % | |||||||||||||
Note_13_Stockholders_Equity_an
Note 13 - Stockholders' Equity and Earnings per Share | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||||||||||||||||||||||||||
13. Stockholders’ Equity and Earnings per Share | |||||||||||||||||||||||||||||||||||||
As a bank holding company, the Bancorp’s ability to pay dividends will depend upon the dividends it receives from the Bank and on the income it may generate from any other activities in which it may engage, either directly or through other subsidiaries. | |||||||||||||||||||||||||||||||||||||
Under California banking law, the Bank may not, without regulatory approval, pay a cash dividend that exceeds the lesser of the Bank’s retained earnings or its net income for the last three fiscal years, less any cash distributions made during that period. Under this regulation, the amount of retained earnings available for cash dividends to the Company immediately after December 31, 2013, is restricted to approximately $54.0 million. | |||||||||||||||||||||||||||||||||||||
During 2003, the Bank formed Cathay Real Estate Investment Trust (“Trust”) to provide the Bank flexibility in raising capital. In 2003 and 2004, the Trust sold to accredited investors $8.6 million of its 7.0% Series A Non-Cumulative preferred stock which pays dividends, if declared, at the end of each quarter. This preferred stock qualified as Tier 1 capital under current regulatory guidelines. The Company paid dividends of $605,000 in 2013, $605,000 in 2012, and $605,000 in 2011. The Bank dissolved the Trust on December 23, 2013. | |||||||||||||||||||||||||||||||||||||
The accumulated other comprehensive loss as of December 31, 2013, was all from unrealized losses on securities available-for-sale. Activity in accumulated other comprehensive income, net of tax, and reclassification out of accumulated other comprehensive income for the three years ended December 31, 2013, was as follows: | |||||||||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||
Pre-tax | Tax expense | Net-of-tax | |||||||||||||||||||||||||||||||||||
Beginning balance, net of tax | $ | 465 | |||||||||||||||||||||||||||||||||||
Net unrealized losses arising during the period | $ | (117,515 | ) | $ | (49,407 | ) | $ | (68,108 | ) | ||||||||||||||||||||||||||||
Reclassification adjustment for net securities gains included in net income | 27,362 | 11,503 | 15,859 | ||||||||||||||||||||||||||||||||||
Net unrealized gains arising from transferring securities held-to-maturity to available-for-sale | 38,052 | 15,997 | 22,055 | ||||||||||||||||||||||||||||||||||
Total other comprehensive income | $ | (52,101 | ) | $ | (21,907 | ) | $ | (30,194 | ) | ||||||||||||||||||||||||||||
Ending balance, net of tax | $ | (29,729 | ) | ||||||||||||||||||||||||||||||||||
The Board of Directors of the Bancorp is authorized to issue preferred stock in one or more series and to fix the voting powers, designations, preferences or other rights of the shares of each such class or series and the qualifications, limitations, and restrictions thereon. Any preferred stock issued by the Bancorp may rank prior to the Bancorp common stock as to dividend rights, liquidation preferences, or both, may have full or limited voting rights, and may be convertible into shares of the Bancorp common stock. | |||||||||||||||||||||||||||||||||||||
Pursuant to the U.S. Treasury’s Troubled Asset Relief Program Capital Purchase Program under the Emergency Economic Stabilization Act of 2008, on December 5, 2008, the U.S. Treasury purchased 258,000 shares of the Company’s Series B Preferred Stock in the amount of $258.0 million. The Series B Preferred Stock pays cumulative compounding dividends at a rate of 5% per year for the first five years, and thereafter at a rate of 9% per year. In conjunction with the purchase of senior preferred shares, the U.S. Treasury received warrants to purchase 1,846,374 shares of common stock at the exercise price of $20.96 per share with an aggregate market price equal to $38.7 million, or 15%, of the senior preferred stock amount that the U.S. Treasury invested. The exercise price of $20.96 on warrants was calculated based on the average of closing prices of the Company’s common stock on the 20 trading days ending on the last trading day prior to November 17, 2008, the date that the Company received the preliminary approval of the purchase from the U.S. Treasury. In 2013, the Company redeemed all $258 million Series B Preferred Stock issued under the U.S. Treasury's TARP Capital Purchase Program. On December 9, 2013, the U.S. Treasury sold all of the warrants that it held for $13.1 million, or $7.20 per warrant, through a secondary public offering. | |||||||||||||||||||||||||||||||||||||
The following is the reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the years as indicated: | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||
Income | Shares | Per | Income | Shares | Per | Income | Shares | Per | |||||||||||||||||||||||||||||
(Numerator) | (Denominator) | Share | (Numerator) | (Denominator) | Share | (Numerator) | (Denominator) | Share | |||||||||||||||||||||||||||||
Amount | Amount | Amount | |||||||||||||||||||||||||||||||||||
(In thousands, except shares and per share data) | |||||||||||||||||||||||||||||||||||||
Net income | $ | 123,143 | $ | 117,438 | $ | 100,150 | |||||||||||||||||||||||||||||||
Dividends on preferred stock | (9,685 | ) | (16,488 | ) | (16,437 | ) | |||||||||||||||||||||||||||||||
Basic EPS, income/(loss) | $ | 113,458 | 78,954,898 | $ | 1.44 | $ | 100,950 | 78,719,133 | $ | 1.28 | $ | 83,713 | 78,633,317 | $ | 1.06 | ||||||||||||||||||||||
Effect of dilutive stock options | 183,085 | 4,164 | 7,335 | ||||||||||||||||||||||||||||||||||
Diluted EPS, income/(loss) | $ | 113,458 | 79,137,983 | $ | 1.43 | $ | 100,950 | 78,723,297 | $ | 1.28 | $ | 83,713 | 78,640,652 | $ | 1.06 | ||||||||||||||||||||||
Options to purchase an additional 2.2 million shares at December 31, 2013, were not included in the computation of diluted earnings per share because their inclusion would have had an anti-dilutive effect. Options to purchase an additional 4.0 million shares and warrants to purchase an additional 1.8 million shares at December 31, 2012, were not included in the computation of diluted earnings per share because their inclusion would have had an anti-dilutive effect. |
Note_14_Commitments_and_Contin
Note 14 - Commitments and Contingencies | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments and Contingencies Disclosure [Text Block] | ' | ||||||||
14. Commitments and Contingencies | |||||||||
Litigation. The Company is involved in various litigation concerning transactions entered into during the normal course of business. Management, after consultation with legal counsel, does not believe that the resolution of such litigation will have a material effect upon its consolidated financial condition, results of operations, or liquidity taken as a whole. | |||||||||
Lending. In the normal course of business, the Company becomes a party to financial instruments with off-balance sheet risk to meet the financing needs of its customers. These financial instruments include commitments to extend credit in the form of loans or through commercial or standby letters of credit and financial guarantees. Those instruments represent varying degrees of exposure to risk in excess of the amounts included in the accompanying Consolidated Balance Sheets. The contractual or notional amount of these instruments indicates a level of activity associated with a particular class of financial instrument and is not a reflection of the level of expected losses, if any. | |||||||||
The Company’s exposure to credit loss in the event of non-performance by the other party to the financial instrument for commitments to extend credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Unless noted otherwise, the Company does not require collateral or other security to support financial instruments with credit risk. | |||||||||
Financial instruments for which contract amounts represent the amount of credit risk include the following: | |||||||||
As of December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Commitments to extend credit | $ | 1,858,669 | $ | 1,740,463 | |||||
Standby letters of credit | 45,058 | 44,672 | |||||||
Commercial letters of credit | 54,098 | 71,073 | |||||||
Bill of lading guarantees | 80 | 77 | |||||||
Total | $ | 1,957,905 | $ | 1,856,285 | |||||
Commitments to extend credit are agreements to lend to a customer provided there is no violation of any condition established in the commitment agreement. These commitments generally have fixed expiration dates and are expected to expire without being drawn upon. The total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained if deemed necessary by the Company upon extension of credit is based on management’s credit evaluation of the borrowers. | |||||||||
As of December 31, 2013, the Company does not have fixed-rate or variable-rate commitments with characteristics similar to options, which provide the holder, for a premium paid at inception to the Company, the benefits of favorable movements in the price of an underlying asset or index with limited or no exposure to losses from unfavorable price movements. | |||||||||
As of December 31, 2013, commitments to extend credit of $1.9 billion include commitments to fund fixed rate loans of $107.0 million and adjustable rate loans of $1.8 billion. | |||||||||
Commercial letters of credit and bill of lading guarantees are issued to facilitate domestic and foreign trade transactions while standby letters of credit are issued to make payments on behalf of customers if certain specified future events occur. The credit risk involved in issuing letters of credit and bill of lading guarantees is essentially the same as that involved in making loans to customers. | |||||||||
Leases. The Company is obligated under a number of operating leases for premises and equipment with terms ranging from one to 25 years, many of which provide for periodic adjustment of rentals based on changes in various economic indicators. Rental expense was $7.7 million for 2013, $7.4 million for 2012, and $6.7 million for 2011. The following table shows future minimum payments under operating leases with terms in excess of one year as of December 31, 2013. | |||||||||
Year Ending December 31, | Commitments | ||||||||
(In thousands) | |||||||||
2014 | $ | 5,745 | |||||||
2015 | 3,895 | ||||||||
2016 | 2,930 | ||||||||
2017 | 1,527 | ||||||||
2018 | 1,015 | ||||||||
Thereafter | 643 | ||||||||
Total minimum lease payments | $ | 15,755 | |||||||
Rental income was $0.3 million for 2013, $0.3 million for 2012, and $0.2 million for 2011. The following table shows future rental payments to be received under operating leases with terms in excess of one year as of December 31, 2013: | |||||||||
Year Ending December 31, | Commitments | ||||||||
(In thousands) | |||||||||
2014 | $ | 121 | |||||||
2015 | 11 | ||||||||
Thereafter | - | ||||||||
Total minimum lease payments to be received | $ | 132 | |||||||
Note_15_Financial_Derivatives
Note 15 - Financial Derivatives | 12 Months Ended |
Dec. 31, 2013 | |
Derivative Instrument Detail [Abstract] | ' |
Schedule of Derivative Instruments [Table Text Block] | ' |
15. Financial Derivatives | |
It is the policy of the Company not to speculate on the future direction of interest rates. However, the Company enters into financial derivatives in order to seek mitigation of exposure to interest rate risks related to its interest-earning assets and interest-bearing liabilities. Management believes that these transactions, when properly structured and managed, may provide a hedge against inherent interest rate risk in the Company’s assets or liabilities and against risk in specific transactions. In such instances, the Company may protect its position through the purchase or sale of interest rate futures contracts for a specific cash or interest rate risk position. Other hedge transactions may be implemented using interest rate swaps, interest rate caps, floors, financial futures, forward rate agreements, and options on futures or bonds. Prior to considering any hedging activities, we seek to analyze the costs and benefits of the hedge in comparison to other viable alternative strategies. All hedges will require an assessment of basis risk and must be approved by the Bank’s Investment Committee. | |
The Company follows ASC Topic 815 which established accounting and reporting standards for financial derivatives, including certain financial derivatives embedded in other contracts, and hedging activities. It requires the recognition of all financial derivatives as assets or liabilities in the Company’s consolidated balance sheets and measurement of those financial derivatives at fair value. The accounting treatment of changes in fair value is dependent upon whether or not a financial derivative is designated as a hedge and if so, the type of hedge. | |
As of December 31, 2011, we had five interest rate swap agreements with two major financial institutions in the notional amount of $300.0 million for a period of three years. These interest rate swaps were not structured to hedge against inherent interest rate risks related to our interest-earning assets and interest-bearing liabilities. These five interest rate swap agreements all matured in the third quarter of 2012. The net amount accrued on these interest rate swaps and the changes in the market value of these interest rate swaps were recorded as a reduction to other non-interest income in the amount of $288,000 in 2012 compared to $4.9 million in 2011. | |
The Company enters into foreign exchange forward contracts and foreign currency option contracts with various counter parties to mitigate the risk of fluctuations in foreign currency exchange rates for foreign exchange certificates of deposit, foreign exchange contracts, or foreign currency option contracts entered into with our clients. These contracts are not designated as hedging instruments and are recorded at fair value in our Consolidated Balance Sheets. Changes in the fair value of these contracts as well as the related foreign exchange certificates of deposit, foreign exchange contracts or foreign currency option contracts are recognized immediately in net income as a component of non-interest income. Period end gross positive fair values are recorded in other assets and gross negative fair values are recorded in other liabilities. At December 31, 2013, the notional amount of option contracts totaled $200,000 with a net positive fair value of $83. Spot and forward contracts in the total notional amount of $267.6 million had a positive fair value of $6.2 million at December 31, 2013. Spot and forward contracts in the total notional amount of $236.3 million had a negative fair value of $6.1 million at December 31, 2013. At December 31, 2012, the notional amount of option contracts totaled $209,000 with a net negative fair value of $2,000. Spot and forward contracts in the total notional amount of $188.1 million had a positive fair value of $2.9 million at December 31, 2012. Spot and forward contracts in the total notional amount of $133.7 million had a negative fair value of $1.6 million at December 31, 2012. |
Note_16_Fair_Value_Measurement
Note 16 - Fair Value Measurements | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||
Fair Value, Measurement Inputs, Disclosure [Text Block] | ' | ||||||||||||||||||||||||
16. Fair Value Measurements | |||||||||||||||||||||||||
The Company adopted ASC Topic 820 on January 1, 2008, and determined the fair values of our financial instruments based on the following: | |||||||||||||||||||||||||
● | Level 1 – Quoted prices in active markets for identical assets or liabilities. | ||||||||||||||||||||||||
● | Level 2 – Observable prices in active markets for similar assets or liabilities; prices for identical or similar assets or liabilities in markets that are not active; directly observable market inputs for substantially the full term of the asset and liability; market inputs that are not directly observable but are derived from or corroborated by observable market data. | ||||||||||||||||||||||||
● | Level 3 – Unobservable inputs based on the Company’s own judgments about the assumptions that a market participant would use. | ||||||||||||||||||||||||
The Company uses the following methodologies to measure the fair value of its financial assets and liabilities on a recurring basis: | |||||||||||||||||||||||||
Securities Available for Sale. For certain actively traded agency preferred stocks, mutual funds, and U.S. Treasury securities, the Company measures the fair value based on quoted market prices in active exchange markets at the reporting date, a Level 1 measurement. The Company also measures securities by using quoted market prices for similar securities or dealer quotes, a Level 2 measurement. This category generally includes U.S. Government agency securities, state and municipal securities, mortgage-backed securities (“MBS”), commercial MBS, collateralized mortgage obligations, asset-backed securities, corporate bonds and trust preferred securities. | |||||||||||||||||||||||||
Trading Securities. The Company measures the fair value of trading securities based on quoted market prices in active exchange markets at the reporting date, a Level 1 measurement. The Company also measures the fair value for other trading securities based on quoted market prices for similar securities or dealer quotes, a Level 2 measurement. | |||||||||||||||||||||||||
Warrants. The Company measures the fair value of warrants based on unobservable inputs based on assumption and management judgment, a Level 3 measurement. | |||||||||||||||||||||||||
Currency Option Contracts and Foreign Exchange Contracts. The Company measures the fair value of currency option and foreign exchange contracts based on dealer quotes on a recurring basis, a Level 2 measurement. | |||||||||||||||||||||||||
The valuation techniques for the assets and liabilities valued on a nonrecurring basis are as follows: | |||||||||||||||||||||||||
Impaired Loans. The Company does not record loans at fair value on a recurring basis. However, from time to time, nonrecurring fair value adjustments to collateral dependent impaired loans are recorded based on either the current appraised value of the collateral, a Level 2 measurement, or management’s judgment and estimation of value reported on old appraisals which are then adjusted based on recent market trends, a Level 3 measurement. | |||||||||||||||||||||||||
Goodwill. The Company completes “step one” of the impairment test by comparing the fair value of each reporting unit (as determined based on the discussion below) with the recorded book value (or “carrying amount”) of its net assets, with goodwill included in the computation of the carrying amount. If the fair value of a reporting unit exceeds its carrying amount, goodwill of that reporting unit is not considered impaired, and “step two” of the impairment test is not necessary. If the carrying amount of a reporting unit exceeds its fair value, step two of the impairment test is performed to determine the amount of impairment. Step two of the impairment test compares the carrying amount of the reporting unit’s goodwill to the “implied fair value” of that goodwill. The implied fair value of goodwill is computed by assuming all assets and liabilities of the reporting unit would be adjusted to the current fair value, with the offset as an adjustment to goodwill. This adjusted goodwill balance is the implied fair value used in step two. An impairment charge is then recognized for the amount by which the carrying amount of goodwill exceeds its implied fair value. In connection with the determination of fair value, certain data and information was utilized, including earnings forecasts at the reporting unit level for the next four years. Other key assumptions include terminal values based on future growth rates and discount rates for valuing the cash flows, which have inputs for the risk-free rate, market risk premium and adjustments to reflect inherent risk and required market returns. Because of the significance of unobservable inputs in the valuation of goodwill impairment, goodwill subject to nonrecurring fair value adjustments is classified as Level 3 measurement. | |||||||||||||||||||||||||
Core Deposit Intangibles. Core deposit intangibles is initially recorded at fair value based on a valuation of the core deposits acquired and is amortized over its estimated useful life to its residual value in proportion to the economic benefits consumed. The Company assesses the recoverability of this intangible asset on a nonrecurring basis using the core deposits remaining at the assessment date and the fair value of cash flows expected to be generated from the core deposits, a Level 3 measurement. | |||||||||||||||||||||||||
Other Real Estate Owned. Real estate acquired in the settlement of loans is initially recorded at fair value based on the appraised value of the property on the date of transfer, less estimated costs to sell, a Level 2 measurement. From time to time, nonrecurring fair value adjustments are made to other real estate owned based on the current updated appraised value of the property, also a Level 2 measurement, or management’s judgment and estimation of value reported on old appraisals which are then adjusted based on recent market trends, a Level 3 measurement. | |||||||||||||||||||||||||
Investments in Venture Capital. The Company periodically reviews for OTTI on a nonrecurring basis. Investments in venture capital were written down to their fair value based on available financial reports from venture capital partnerships and management’s judgment and estimation, a Level 3 measurement. | |||||||||||||||||||||||||
The following tables present the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis at December 31, 2013, and at December 31, 2012: | |||||||||||||||||||||||||
As of December 31, 2013 | Fair Value Measurements Using | Total at | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Securities available-for-sale | |||||||||||||||||||||||||
U.S. Treasury securities | $ | 460,193 | $ | - | $ | - | $ | 460,193 | |||||||||||||||||
Mortgage-backed securities | - | 952,815 | - | 952,815 | |||||||||||||||||||||
Collateralized mortgage obligations | - | 6,106 | - | 6,106 | |||||||||||||||||||||
Asset-backed securities | - | 123 | - | 123 | |||||||||||||||||||||
Corporate debt securities | - | 150,304 | - | 150,304 | |||||||||||||||||||||
Mutual funds | 5,724 | - | - | 5,724 | |||||||||||||||||||||
Preferred stock of government sponsored entities | - | 11,403 | - | 11,403 | |||||||||||||||||||||
Total securities available-for-sale | 465,917 | 1,120,751 | - | 1,586,668 | |||||||||||||||||||||
Trading securities | - | 4,936 | - | 4,936 | |||||||||||||||||||||
Warrants | - | - | 30 | 30 | |||||||||||||||||||||
Option contracts | - | 0 | - | 0 | |||||||||||||||||||||
Foreign exchange contracts | - | 6,182 | - | 6,182 | |||||||||||||||||||||
Total assets | $ | 465,917 | $ | 1,131,869 | $ | 30 | $ | 1,597,816 | |||||||||||||||||
Liabilities | |||||||||||||||||||||||||
Foreign exchange contracts | - | 6,140 | - | 6,140 | |||||||||||||||||||||
Total liabilities | $ | - | $ | 6,140 | $ | - | $ | 6,140 | |||||||||||||||||
As of December 31, 2012 | Fair Value Measurements Using | Total at | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Securities available-for-sale | |||||||||||||||||||||||||
U.S. Treasury securities | $ | 509,971 | $ | - | $ | - | $ | 509,971 | |||||||||||||||||
Mortgage-backed securities | - | 416,694 | - | 416,694 | |||||||||||||||||||||
Collateralized mortgage obligations | - | 10,168 | - | 10,168 | |||||||||||||||||||||
Asset-backed securities | - | 141 | - | 141 | |||||||||||||||||||||
Corporate debt securities | - | 335,977 | - | 335,977 | |||||||||||||||||||||
Mutual funds | 6,079 | - | - | 6,079 | |||||||||||||||||||||
Preferred stock of government sponsored entities | - | 2,335 | - | 2,335 | |||||||||||||||||||||
Trust preferred securities | 10,115 | - | - | 10,115 | |||||||||||||||||||||
Total securities available-for-sale | 526,165 | 765,315 | - | 1,291,480 | |||||||||||||||||||||
Trading securities | - | 4,703 | - | 4,703 | |||||||||||||||||||||
Warrants | - | - | 104 | 104 | |||||||||||||||||||||
Option contracts | - | 0 | - | 0 | |||||||||||||||||||||
Foreign exchange contracts | - | 2,924 | - | 2,924 | |||||||||||||||||||||
Total assets | $ | 526,165 | $ | 772,942 | $ | 104 | $ | 1,299,211 | |||||||||||||||||
Liabilities | |||||||||||||||||||||||||
Option contracts | $ | - | $ | 2 | $ | - | $ | 2 | |||||||||||||||||
Foreign exchange contracts | - | 1,586 | - | 1,586 | |||||||||||||||||||||
Total liabilities | $ | - | $ | 1,588 | $ | - | $ | 1,588 | |||||||||||||||||
The Company measured the fair value of its warrants on a recurring basis using significant unobservable inputs. The fair value of warrants was $30,000 at December 31, 2013, compared to $104,000 at December 31, 2012. The fair value adjustment of warrants was included in other operating income for 2013. | |||||||||||||||||||||||||
For financial assets measured at fair value on a nonrecurring basis that were still reflected in the balance sheet at December 31, 2013, the following tables provide the level of valuation assumptions used to determine each adjustment and the carrying value of the related individual assets at December 31, 2013, and at December 31, 2012, and the total losses for the periods indicated: | |||||||||||||||||||||||||
As of December 31, 2013 | Total Losses/(gains) | ||||||||||||||||||||||||
Fair Value Measurements Using | Total at | For the Twelve Months Ended | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair | December 31, | December 31, | ||||||||||||||||||||
Value | 2013 | 2012 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Impaired loans by type: | |||||||||||||||||||||||||
Commercial loans | $ | - | $ | - | $ | 7,584 | $ | 7,584 | $ | 5,731 | $ | - | |||||||||||||
Commercial mortgage loans | - | - | 29,001 | 29,001 | 125 | 440 | |||||||||||||||||||
Construction- residential | - | - | 500 | 500 | - | - | |||||||||||||||||||
Construction- other | - | - | 15,363 | 15,363 | - | 65 | |||||||||||||||||||
Residential mortgage and equity lines | - | - | 14,236 | 14,236 | 213 | 605 | |||||||||||||||||||
Land loans | - | - | 29 | 29 | - | 162 | |||||||||||||||||||
Total impaired loans | - | - | 66,713 | 66,713 | 6,069 | 1,272 | |||||||||||||||||||
Other real estate owned (1) | - | 13,248 | 26,498 | 39,746 | (3,134 | ) | 10,904 | ||||||||||||||||||
Investments in venture capital and private company stock | - | - | 8,900 | 8,900 | 409 | 309 | |||||||||||||||||||
Equity investments | 642 | - | - | 642 | - | 181 | |||||||||||||||||||
Total assets | $ | 642 | $ | 13,248 | $ | 102,111 | $ | 116,001 | $ | 3,344 | $ | 12,666 | |||||||||||||
-1 | Other real estate owned balance of $53.0 million in the Consolidated Balance Sheets is net of estimated disposal costs. | ||||||||||||||||||||||||
As of December 31, 2012 | Total Losses | ||||||||||||||||||||||||
Fair Value Measurements Using | Total at | For the Twelve Months Ended | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair | December 31, | December 31, | ||||||||||||||||||||
Value | 2012 | 2011 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Impaired loans by type: | |||||||||||||||||||||||||
Commercial loans | $ | - | $ | - | $ | 3,492 | $ | 3,492 | $ | - | $ | 877 | |||||||||||||
Commercial mortgage loans | - | - | 11,295 | 11,295 | 440 | - | |||||||||||||||||||
Construction- residential | - | - | 500 | 500 | - | - | |||||||||||||||||||
Construction- other | - | - | 46,153 | 46,153 | 65 | - | |||||||||||||||||||
Residential mortgage and equity lines | - | - | 11,206 | 11,206 | 605 | 820 | |||||||||||||||||||
Land loans | - | - | 297 | 297 | 162 | 46 | |||||||||||||||||||
Total impaired loans | - | - | 72,943 | 72,943 | 1,272 | 1,743 | |||||||||||||||||||
Other real estate owned (1) | - | 27,149 | 4,841 | 31,990 | 10,904 | 7,003 | |||||||||||||||||||
Investments in venture capital and private company stock | - | - | 9,001 | 9,001 | 309 | 379 | |||||||||||||||||||
Equity investments | 142 | - | - | 142 | 181 | 200 | |||||||||||||||||||
Total assets | $ | 142 | $ | 27,149 | $ | 86,785 | $ | 114,076 | $ | 12,666 | $ | 9,325 | |||||||||||||
-1 | Other real estate owned balance of $46.4 million in the Consolidated Balance Sheets is net of estimated disposal costs. | ||||||||||||||||||||||||
The significant unobservable (Level 3) inputs used in the fair value measurement of collateral for collateral-dependent impaired loans was primarily based on the appraised value of collateral adjusted by estimated sales cost and commissions. The Company generally obtains new appraisal reports every six months. As the Company’s primary objective in the event of default would be to monetize the collateral to settle the outstanding balance of the loan, less marketable collateral would receive a larger discount. During the reported periods, collateral discounts ranged from 45% in the case of accounts receivable collateral to 65% in the case of inventory collateral. | |||||||||||||||||||||||||
The significant unobservable inputs used in the fair value measurement of other real estate owned (“OREO”) was primarily based on the appraised value of OREO adjusted by estimated sales cost and commissions. | |||||||||||||||||||||||||
The Company applies estimated sales cost and commission ranging from 3% to 6% of collateral value of impaired loans, quoted price or loan sale price of loans held for sale, and appraised value of OREOs. | |||||||||||||||||||||||||
The significant unobservable inputs in the Black-Scholes option pricing model for the fair value of warrants are the expected life of warrant ranging from 1 to 4 years, risk-free interest rate from 0.39% to 1.25%, and stock volatility of the Company from 8.39% to 16.0%. |
Note_17_Fair_Value_of_Financia
Note 17 - Fair Value of Financial Instruments | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||
17. Fair Value of Financial Instruments | |||||||||||||||||
The following methods and assumptions were used to estimate the fair value of each class of financial instruments. | |||||||||||||||||
Cash and Cash Equivalents. For cash and cash equivalents, the carrying amount was assumed to be a reasonable estimate of fair value, a Level 1 measurement. | |||||||||||||||||
Short-term Investments. For short-term investments, the carrying amount was assumed to be a reasonable estimate of fair value, a Level 1 measurement. | |||||||||||||||||
Securities Purchased under Agreements to Resell. The fair value of securities purchased under agreements to resell is based on dealer quotes, a Level 2 measurement. | |||||||||||||||||
Securities. For securities, including securities held-to-maturity, available-for-sale and for trading, fair values were based on quoted market prices at the reporting date. If a quoted market price was not available, fair value was estimated using quoted market prices for similar securities or dealer quotes. For certain actively traded agency preferred stocks and U.S. Treasury securities, the Company measures the fair value based on quoted market prices in active exchange markets at the reporting date, a Level 1 measurement. The Company also measures securities by using quoted market prices for similar securities or dealer quotes, a Level 2 measurement. This category generally includes U.S. Government agency securities, state and municipal securities, mortgage-backed securities (“MBS”), commercial MBS, collateralized mortgage obligations, asset-backed securities, and corporate bonds. | |||||||||||||||||
Loans. Fair values were estimated for portfolios of loans with similar financial characteristics. Each loan category was further segmented into fixed and adjustable rate interest terms and by performing and non-performing categories. | |||||||||||||||||
The fair value of performing loans was calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate risk inherent in the loan, a Level 3 measurement. | |||||||||||||||||
The fair value of impaired loans was calculated based on the net realizable fair value of the collateral or the observable market price of the most recent sale or quoted price from loans held for sale. The Company does not record loans at fair value on a recurring basis. Nonrecurring fair value adjustments to collateral dependent impaired loans are recorded based on the current appraised value of the collateral, a Level 2 measurement. | |||||||||||||||||
Deposit Liabilities. The fair value of demand deposits, savings accounts, and certain money market deposits was assumed to be the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit was estimated using the rates currently offered for deposits with similar remaining maturities, a Level 3 measurement. | |||||||||||||||||
Securities Sold under Agreements to Repurchase. The fair value of securities sold under agreements to repurchase is based on dealer quotes, a Level 2 measurement. | |||||||||||||||||
Advances from Federal Home Loan Bank. The fair value of the advances is based on quotes from the FHLB to settle the advances, a Level 2 measurement. | |||||||||||||||||
Other Borrowings. This category includes borrowings from other financial institutions. The fair value of other borrowings is calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate risk, a Level 3 measurement. | |||||||||||||||||
Long-term Debt. The fair value of long-term debt is estimated based on the quoted market prices or dealer quotes, a Level 2 measurement. | |||||||||||||||||
Currency Option and Foreign Exchange Contracts. The Company measures the fair value of currency option and foreign exchange contracts based on dealer quotes, a Level 2 measurement. | |||||||||||||||||
Off-Balance-Sheet Financial Instruments. The fair value of commitments to extend credit, standby letters of credit, and financial guarantees written were estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counter parties. The fair value of guarantees and letters of credit was based on fees currently charged for similar agreements or on the estimated cost to terminate them or otherwise settle the obligations with the counter parties at the reporting date. Off-balance-sheet financial instruments were valued based on the assumptions that a market participant would use, a Level 3 measurement. | |||||||||||||||||
Fair value was estimated in accordance with ASC Topic 825, formerly SFAS 107. Fair value estimates were made at specific points 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 the Bank’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Bank’s financial instruments, fair value estimates were based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates were subjective in nature and involved uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. | |||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | ||||||||||||||||
Carrying | Fair Value | Carrying | Fair Value | ||||||||||||||
Amount | Amount | ||||||||||||||||
(In thousands) | |||||||||||||||||
Financial Assets | |||||||||||||||||
Cash and due from banks | $ | 153,747 | $ | 153,747 | $ | 144,909 | $ | 144,909 | |||||||||
Short-term investments | 516,938 | 516,938 | 411,983 | 411,983 | |||||||||||||
Securities held-to-maturity | - | - | 773,768 | 823,906 | |||||||||||||
Securities available-for-sale | 1,586,668 | 1,586,668 | 1,291,480 | 1,291,480 | |||||||||||||
Trading securities | 4,936 | 4,936 | 4,703 | 4,703 | |||||||||||||
Loans, net | 7,897,187 | 7,760,490 | 7,235,587 | 7,169,732 | |||||||||||||
Investment in Federal Home Loan Bank stock | 25,000 | 25,000 | 41,272 | 41,272 | |||||||||||||
Warrants | 30 | 30 | 104 | 104 | |||||||||||||
Notional | Fair Value | Notional | Fair Value | ||||||||||||||
Amount | Amount | ||||||||||||||||
Option contracts | $ | 200 | $ | 0 | $ | 105 | $ | - | |||||||||
Foreign exchange contracts | 267,644 | 6,182 | 188,145 | 2,924 | |||||||||||||
Carrying | Fair Value | Carrying | Fair Value | ||||||||||||||
Amount | Amount | ||||||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | $ | 7,981,305 | $ | 7,977,639 | $ | 7,383,225 | $ | 7,389,015 | |||||||||
Securities sold under agreement to repurchase | 800,000 | 852,835 | 1,250,000 | 1,361,585 | |||||||||||||
Advances from Federal Home Loan Bank | 521,200 | 521,560 | 146,200 | 146,789 | |||||||||||||
Other borrowings | 19,062 | 16,107 | 18,713 | 14,573 | |||||||||||||
Long-term debt | 121,136 | 58,970 | 171,136 | 98,392 | |||||||||||||
Notional | Fair Value | Notional | Fair Value | ||||||||||||||
Amount | Amount | ||||||||||||||||
Option contracts | $ | - | $ | - | $ | 104 | $ | 2 | |||||||||
Foreign exchange contracts | 236,350 | 6,140 | 133,669 | 1,586 | |||||||||||||
Notional | Fair Value | Notional | Fair Value | ||||||||||||||
Amount | Amount | ||||||||||||||||
Off-Balance Sheet Financial Instruments | |||||||||||||||||
Commitments to extend credit | $ | 1,858,669 | $ | (2,187 | ) | $ | 1,740,463 | $ | (1,875 | ) | |||||||
Standby letters of credit | 45,058 | (205 | ) | 44,672 | (204 | ) | |||||||||||
Other letters of credit | 54,098 | (34 | ) | 71,073 | (34 | ) | |||||||||||
Bill of lading guarantees | 80 | - | 77 | - | |||||||||||||
The following tables present the level in the fair value hierarchy for the estimated fair values of only financial instruments that are not already on the Consolidated Balance Sheets at fair value at December 31, 2013, and December 31, 2012. | |||||||||||||||||
As of December 31, 2013 | |||||||||||||||||
Estimated | Level 1 | Level 2 | Level 3 | ||||||||||||||
Fair Value | |||||||||||||||||
Measurements | |||||||||||||||||
(In thousands) | |||||||||||||||||
Financial Assets | |||||||||||||||||
Cash and due from banks | $ | 153,747 | $ | 153,747 | $ | - | $ | - | |||||||||
Short-term investments | 516,938 | 516,938 | - | - | |||||||||||||
Securities available-for-sale | 1,586,668 | 465,917 | 1,120,751 | - | |||||||||||||
Trading securities | 4,936 | - | 4,936 | - | |||||||||||||
Loans, net | 7,760,490 | - | - | 7,760,490 | |||||||||||||
Investment in Federal Home Loan Bank stock | 25,000 | - | 25,000 | - | |||||||||||||
Warrants | 30 | - | - | 30 | |||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | 7,977,639 | - | - | 7,977,639 | |||||||||||||
Securities sold under agreement to repurchase | 852,835 | - | 852,835 | - | |||||||||||||
Advances from Federal Home Loan Bank | 521,560 | - | 521,560 | - | |||||||||||||
Other borrowings | 16,107 | - | - | 16,107 | |||||||||||||
Long-term debt | 58,970 | - | 58,970 | - | |||||||||||||
As of December 31, 2012 | |||||||||||||||||
Estimated | Level 1 | Level 2 | Level 3 | ||||||||||||||
Fair Value | |||||||||||||||||
Measurements | |||||||||||||||||
(In thousands) | |||||||||||||||||
Financial Assets | |||||||||||||||||
Cash and due from banks | $ | 144,909 | $ | 144,909 | $ | - | $ | - | |||||||||
Short-term investments | 411,983 | 411,983 | - | - | |||||||||||||
Securities held-to-maturity | 823,906 | - | 823,906 | - | |||||||||||||
Securities available-for-sale | 1,291,480 | 526,165 | 765,315 | - | |||||||||||||
Trading securities | 4,703 | - | 4,703 | - | |||||||||||||
Loans, net | 7,169,732 | - | - | 7,169,732 | |||||||||||||
Investment in Federal Home Loan Bank stock | 41,272 | - | 41,272 | - | |||||||||||||
Warrants | 104 | - | - | 104 | |||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | 7,389,015 | - | - | 7,389,015 | |||||||||||||
Securities sold under agreement to repurchase | 1,361,585 | - | 1,361,585 | - | |||||||||||||
Advances from Federal Home Loan Bank | 146,789 | - | 146,789 | - | |||||||||||||
Other borrowings | 14,573 | - | - | 14,573 | |||||||||||||
Long-term debt | 98,392 | - | 98,392 | - | |||||||||||||
Note_18_Employee_Benefit_Plans
Note 18 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2013 | |
Disclosure Text Block Supplement [Abstract] | ' |
Compensation and Employee Benefit Plans [Text Block] | ' |
18. Employee Benefit Plans | |
Employee Stock Ownership Plan. Under the Company’s Amended and Restated Cathay Bank Employee Stock Ownership Plan (“ESOP”), the Company can make annual contributions to a trust in the form of either cash or common stock of the Bancorp for the benefit of eligible employees. Employees are eligible to participate in the ESOP after completing two years of service for salaried full-time employees or 1,000 hours for each of two consecutive years for salaried part-time employees. The amount of the annual contribution is discretionary except that it must be sufficient to enable the trust to meet its current obligations. The Company also pays for the administration of this plan and of the trust. The Company has not made contributions to the trust since 2004 and does not expect to make any contributions in the future. Effective June 17, 2004, the ESOP was amended to provide the participants the election either to reinvest the dividends on the Company stock allocated to their accounts or to have these dividends distributed to the participant. The ESOP trust purchased 3,825 shares in 2013, 2,814 shares in 2012, and 3,437 shares in 2011, of the Bancorp’s common stock at an aggregate cost of $92,000 in 2013, $47,000 in 2012, and $47,000 in 2011. The distribution of benefits to participants totaled 51,779 shares in 2013, 116,124 shares in 2012, and 83,020 shares in 2011. As of December 31, 2013, the ESOP owned 1,140,788 shares, or 1.4%, of the Company’s outstanding common stock. | |
401(k) Plan. In 1997, the Board approved the Company’s 401(k) Profit Sharing Plan, which began on March 1, 1997. Salaried employees who have completed three months of service and have attained the age of 21 are eligible to participate. Enrollment dates are on January 1st, April 1st, July 1st, and October 1st of each year. Participants may contribute up to 75% of their eligible compensation for the year but not to exceed the dollar limit set by the Internal Revenue Code. Participants may change their contribution election on the enrollment dates. The vesting schedule for the matching contribution is 0% for less than two years of service, 25% after two years of service and from then on, at an increment of 25% each year until 100% is vested after five years of service. Effective on April 1, 2010, the Company matches 100% on the first 2.5% of eligible compensation contributed per pay period by the participant, after one year of service. The Company’s contribution amounted to $1.0 million in 2013, $1.0 million in 2012, and $0.9 million in 2011. The Plan allows participants to withdraw all or part of their vested amount in the Plan due to certain financial hardship as set forth in the Internal Revenue Code and Treasury Regulations. Participants may also borrow up to 50% of the vested amount, with a maximum of $50,000. The minimum loan amount is $1,000. |
Note_19_Equity_Incentive_Plans
Note 19 - Equity Incentive Plans | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||||||
19. Equity Incentive Plans | |||||||||||||||||
In 1998, the Board adopted the Cathay Bancorp, Inc. Equity Incentive Plan. Under the Equity Incentive Plan, as amended in September, 2003, directors and eligible employees may be granted incentive or non-statutory stock options and/or restricted stock units, or awarded non-vested stock, for up to 7,000,000 shares of the Company’s common stock on a split adjusted basis. In May 2005, the stockholders of the Company approved the 2005 Incentive Plan which provides that 3,131,854 shares of the Company’s common stock may be granted as incentive or non-statutory stock options, or as restricted stock, or as restricted stock units. In conjunction with the approval of the 2005 Incentive Plan, the Bancorp agreed to cease granting awards under the Equity Incentive Plan. As of December 31, 2013, the only options granted by the Company under the 2005 Incentive Plan were non-statutory stock options to selected bank officers and non-employee directors at exercise prices equal to the fair market value of a share of the Company’s common stock on the date of grant. Such options have a maximum ten-year term and vest in 20% annual increments (subject to early termination in certain events) except certain options granted to the Chief Executive Officer of the Company in 2005 and 2008. If such options expire or terminate without having been exercised, any shares not purchased will again be available for future grants or awards. There were no options granted in 2013, in 2012, or in 2011. The Company expects to issue new shares to satisfy stock option exercises and the vesting of restricted stock units. | |||||||||||||||||
Cash received from exercises of stock options totaled $14.8 million for 594,946 shares in 2013, $764,000 for 50,024 shares in 2012, and $1.3 million for 86,860 shares in 2011. The fair value of stock options vested in 2013 was $2.1 million compared to $745,000 in 2012. Aggregate intrinsic value for options exercised was $307,000 in 2013 compared to $103,000 in 2012. | |||||||||||||||||
A summary of stock option activity for 2013, 2012, and 2011 follows: | |||||||||||||||||
Shares | Weighted-Average | Weighted-Average | Aggregate | ||||||||||||||
Exercise Price | Remaining Contractual | Intrinsic | |||||||||||||||
Life (in years) | Value (in thousands) | ||||||||||||||||
Balance, December 31, 2010 | 4,947,348 | 27.93 | 3.7 | $ | 334 | ||||||||||||
Exercised | (86,860 | ) | $ | 15.05 | |||||||||||||
Forfeited | (503,503 | ) | 22.72 | ||||||||||||||
Balance, December 31, 2011 | 4,356,985 | 28.86 | 3 | $ | 37 | ||||||||||||
Exercised | (50,024 | ) | $ | 15.27 | |||||||||||||
Forfeited | (310,331 | ) | 23.75 | ||||||||||||||
Balance, December 31, 2012 | 3,996,630 | 29.45 | 2.2 | $ | - | ||||||||||||
Exercised | (594,946 | ) | $ | 24.8 | |||||||||||||
Forfeited | (588,810 | ) | 22.86 | ||||||||||||||
Balance, December 31, 2013 | 2,812,874 | 31.81 | 1.9 | $ | 2,119 | ||||||||||||
Exercisable, December 31, 2013 | 2,812,874 | $ | 31.81 | 1.9 | $ | 2,119 | |||||||||||
At December 31, 2013, 2,640,264 shares were available under the 2005 Incentive Plan for future grants. The following table shows stock options outstanding and exercisable as of December 31, 2013, the corresponding exercise prices, and the weighted-average contractual life remaining: | |||||||||||||||||
Outstanding | |||||||||||||||||
Exercise Price | Shares | Weighted-Average | Shares | ||||||||||||||
Remaining Contractual | |||||||||||||||||
Life (in Years) | |||||||||||||||||
$ | 28.7 | 438,000 | 0.1 | 438,000 | |||||||||||||
32.26 | 10,000 | 0.5 | 10,000 | ||||||||||||||
38.38 | 15,000 | 0.9 | 15,000 | ||||||||||||||
37 | 568,270 | 1.1 | 568,270 | ||||||||||||||
32.47 | 245,060 | 1.2 | 245,060 | ||||||||||||||
33.54 | 264,694 | 1.4 | 264,694 | ||||||||||||||
36.9 | 218,540 | 2.1 | 218,540 | ||||||||||||||
36.24 | 410,730 | 2.1 | 410,730 | ||||||||||||||
38.26 | 12,000 | 2.3 | 12,000 | ||||||||||||||
23.37 | 630,580 | 4.2 | 630,580 | ||||||||||||||
2,812,874 | 1.9 | 2,812,874 | |||||||||||||||
In addition to stock options, the Company also grants restricted stock units to eligible employees which vest subject to continued employment at the vesting dates. On February 21, 2008, restricted stock units, which vest ratably over five years, for 82,291 shares were granted. Upon vesting of restricted stock units, the Company issued 138,220 shares of common stock at the average closing price of $22.71 in 2013, 11,814 shares at the average closing price of $16.90 in 2012, and 12,633 shares of common stock at the average closing price of $18.79 per share in 2011. | |||||||||||||||||
The Company granted restricted stock units for 25,037 shares at an average closing price of $20.68 per share in 2013, for 125,133 shares at an average closing price of $18.24 per share in 2012, and for 147,661 shares at an average closing price of $14.78 in 2011. The restricted stock units granted in 2013, 2012, and 2011 are scheduled to vest two years from grant date. | |||||||||||||||||
The following table presents restricted stock unit activity for 2013, 2012, and 2011: | |||||||||||||||||
Units | |||||||||||||||||
Balance at December 31, 2010 | 38,960 | ||||||||||||||||
Granted | 147,661 | ||||||||||||||||
Vested | (12,633 | ) | |||||||||||||||
Cancelled or forfeited | (2,578 | ) | |||||||||||||||
Balance at December 31, 2011 | 171,410 | ||||||||||||||||
Granted | 125,133 | ||||||||||||||||
Vested | (11,814 | ) | |||||||||||||||
Cancelled or forfeited | (28,113 | ) | |||||||||||||||
Balance at December 31, 2012 | 256,616 | ||||||||||||||||
Granted | 25,037 | ||||||||||||||||
Vested | (138,220 | ) | |||||||||||||||
Cancelled or forfeited | - | ||||||||||||||||
Balance at December 31, 2013 | 143,433 | ||||||||||||||||
In December 2013, the Company granted performance share unit awards in which the number of units earned is calculated based on the relative total shareholder return (“TSR”) of the Company’s common stock as compared to the TSR of the KBW Regional Banking Index. In addition, the Company granted performance share unit awards in which the number of units earned is determined by comparison to the targeted EPS as defined in the award for the 2014 to 2016 period. Performance TSR restricted stock units for 119,840 shares and performance EPS restricted stock units for 116,186 shares were granted to eight executive officers in 2013. Both the performance TSR and performance EPS share awards are scheduled to vest at December 31, 2016. | |||||||||||||||||
The compensation expense recorded for restricted stock units was $2.0 million in 2013, $1.3 million in 2012, and $758,000 in 2011. Unrecognized stock-based compensation expense related to restricted stock units was $7.2 million at December 31, 2013, and is expected to be recognized over the next 2.6 years. | |||||||||||||||||
In 2013, 52,431 shares of the Company’s common stock at the average price of $21.13 per share were issued to seven executive officers and recorded as compensation expense compared to 45,937 shares at the average price of $17.16 in 2012. Salary stock compensation expenses were $1.1 million in 2013 compared to $788,000 in 2012. | |||||||||||||||||
The following table summarizes the tax benefit from options exercised: | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
(In thousands) | |||||||||||||||||
(Short-fall)/benefit of tax deductions in excess of grant-date fair value | $ | (2,509 | ) | $ | (620 | ) | $ | (290 | ) | ||||||||
Benefit of tax deductions on grant-date fair value | 4,172 | 747 | 362 | ||||||||||||||
Total benefit of tax deductions | $ | 1,663 | $ | 127 | $ | 72 | |||||||||||
Note_20_Condensed_Financial_In
Note 20 - Condensed Financial Information of Cathay General Bancorp | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | ' | ||||||||||||
20. Condensed Financial Information of Cathay General Bancorp | |||||||||||||
The condensed financial information of the Bancorp as of December 31, 2013, and December 31, 2012, and for the years ended December 31, 2013, 2012, and 2011 is as follows: | |||||||||||||
Balance Sheets | |||||||||||||
As of December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands, except | |||||||||||||
share and per share data) | |||||||||||||
Assets | |||||||||||||
Cash | $ | 1,835 | $ | 639 | |||||||||
Short-term certificates of deposit | 38,000 | 161,300 | |||||||||||
Investment in bank subsidiaries | 1,525,459 | 1,569,902 | |||||||||||
Investment in non-bank subsidiaries | 2,536 | 2,598 | |||||||||||
Other assets | 12,866 | 9,936 | |||||||||||
Total assets | $ | 1,580,696 | $ | 1,744,375 | |||||||||
Liabilities | |||||||||||||
Junior subordinated debt | $ | 121,136 | $ | 121,136 | |||||||||
Other liabilities | 589 | 2,182 | |||||||||||
Total liabilities | 121,725 | 123,318 | |||||||||||
Commitments and contingencies | - | - | |||||||||||
Stockholders' equity | |||||||||||||
Preferred stock, 10,000,000 shares authorized, none issued and outstanding at December 31, 2013, 258,000 issued and outstanding at December 31, 2012 | - | 254,580 | |||||||||||
Common stock, $0.01 par value, 100,000,000 shares authorized, 83,797,434 issued and 79,589,869 outstanding at December 31, 2013, and 82,985,853 issued and 78,778,288 outstanding at December 31, 2012 | 838 | 830 | |||||||||||
Additional paid-in-capital | 784,489 | 768,925 | |||||||||||
Accumulated other comprehensive loss, net | (29,729 | ) | 465 | ||||||||||
Retained earnings | 829,109 | 721,993 | |||||||||||
Treasury stock, at cost (4,207,565 shares at December 31, 2013, and at December 31, 2012) | (125,736 | ) | (125,736 | ) | |||||||||
Total stockholders' equity | 1,458,971 | 1,621,057 | |||||||||||
Total liabilities and stockholders' equity | $ | 1,580,696 | $ | 1,744,375 | |||||||||
Statements of Operations | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Cash dividends from Cathay Bank | $ | 138,030 | $ | 154,700 | $ | - | |||||||
Interest income | 157 | 196 | 259 | ||||||||||
Interest expense | 2,994 | 3,228 | 3,038 | ||||||||||
Non-interest income/(loss) | 434 | 3,718 | 286 | ||||||||||
Non-interest expense | 2,443 | 2,064 | 1,548 | ||||||||||
Income/(loss) before income tax benefit | 133,184 | 153,322 | (4,041 | ) | |||||||||
Income tax benefit | (2,037 | ) | (579 | ) | (1,699 | ) | |||||||
Loss before undistributed earnings of subsidiaries | 135,221 | 153,901 | (2,342 | ) | |||||||||
Distributions less (more) than earnings of subsidiaries | (12,078 | ) | (36,463 | ) | 102,492 | ||||||||
Net income | $ | 123,143 | $ | 117,438 | $ | 100,150 | |||||||
Statements of Cash Flows | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Cash flows from Operating Activities | |||||||||||||
Net income | $ | 123,143 | $ | 117,438 | $ | 100,150 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||
Dividends in excess of earnings of subsidiaries | 12,078 | 36,463 | - | ||||||||||
Equity in undistributed earnings of subsidiaries | - | - | (102,492 | ) | |||||||||
Gains on sale of securities | - | (3,380 | ) | - | |||||||||
Increase in accrued expense | - | 12 | 24 | ||||||||||
Write-downs on venture capital and other investments | 357 | 262 | 321 | ||||||||||
Write-downs on impaired securities | - | 181 | 200 | ||||||||||
Loss/(gains) in fair value of warrants | 56 | 114 | (215 | ) | |||||||||
Excess tax short-fall from stock options | 2,509 | 620 | 290 | ||||||||||
Net change in other assets | (1,684 | ) | 1,820 | (121 | ) | ||||||||
Net change in other liabilities | 27 | 59 | (221 | ) | |||||||||
Net cash provided by/(used in) operating activities | 136,486 | 153,589 | (2,064 | ) | |||||||||
Cash flows from Investment Activities | |||||||||||||
Decrease/(increase) in short-term investment | 123,300 | (142,300 | ) | 17,500 | |||||||||
Proceeds from sale of available-for-sale securities | - | 4,849 | - | ||||||||||
Venture capital and other investments | (835 | ) | (694 | ) | (671 | ) | |||||||
Net cash provided by/(used in) investment activities | 122,465 | (138,145 | ) | 16,829 | |||||||||
Cash flows from Financing Activities | |||||||||||||
Redemption of Series B preferred stock | (258,000 | ) | - | - | |||||||||
Cash dividends | (12,606 | ) | (16,049 | ) | (16,046 | ) | |||||||
Proceeds from shares issued under the Dividend Reinvestment Plan | 605 | 291 | 287 | ||||||||||
Proceeds from exercise of stock options | 14,755 | 764 | 1,306 | ||||||||||
Excess tax short-fall from share-based payment arrangements | (2,509 | ) | (620 | ) | (290 | ) | |||||||
Net cash used in financing activities | (257,755 | ) | (15,614 | ) | (14,743 | ) | |||||||
Increase/(decrease) in cash and cash equivalents | 1,196 | (170 | ) | 22 | |||||||||
Cash and cash equivalents, beginning of year | 639 | 809 | 787 | ||||||||||
Cash and cash equivalents, end of year | $ | 1,835 | $ | 639 | $ | 809 | |||||||
Note_21_Dividend_Reinvestment_
Note 21 - Dividend Reinvestment Plan | 12 Months Ended |
Dec. 31, 2013 | |
Dividend Reinvestment Plan [Abstract] | ' |
Dividend Reinvestment Plan [Text Block] | ' |
21. Dividend Reinvestment Plan | |
The Company has a Dividend Reinvestment Plan which allows for participants’ reinvestment of cash dividends and certain optional additional investments in the Bancorp’s common stock. Shares issued under the plan and the consideration received were 25,984 shares for $605,000 in 2013, 17,956 shares for $291,000 in 2012, and 21,281 shares for $287,000 in 2011. |
Note_22_Regulatory_Matters
Note 22 - Regulatory Matters | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | ' | ||||||||||||||||||||||||||||||||
22. Regulatory Matters | |||||||||||||||||||||||||||||||||
The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. | |||||||||||||||||||||||||||||||||
The Federal Deposit Insurance Corporation has established five capital ratio categories: “well capitalized,” “adequately capitalized,” “undercapitalized,” “significantly undercapitalized,” and “critically undercapitalized.” A well capitalized institution must have a Tier 1 capital ratio of at least 6%, a total risk-based capital ratio of at least 10%, and a leverage ratio of at least 5%. At December 31, 2013 and 2012, the Bank qualified as well capitalized under the regulatory framework for prompt corrective action. | |||||||||||||||||||||||||||||||||
The Bancorp’s and the Bank’s capital and leverage ratios as of December 31, 2013, and December 31, 2012, are presented in the tables below: | |||||||||||||||||||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||||||||||
Company | Bank | Company | Bank | ||||||||||||||||||||||||||||||
Balance | Percentage | Balance | Percentage | Balance | Percentage | Balance | Percentage | ||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Tier I Capital (to risk- weighted assets) | $ | 1,288,892 | 15.04 | % | $ | 1,244,480 | 14.53 | % | $ | 1,426,566 | 17.36 | % | $ | 1,259,005 | 15.33 | % | |||||||||||||||||
Tier I Capital minimum requirement | 342,899 | 4 | 342,701 | 4 | 328,713 | 4 | 328,440 | 4 | |||||||||||||||||||||||||
Excess | $ | 945,993 | 11.04 | % | $ | 901,779 | 10.53 | % | $ | 1,097,853 | 13.36 | % | $ | 930,565 | 11.33 | % | |||||||||||||||||
Total Capital (to risk- weighted assets) | $ | 1,401,319 | 16.35 | % | $ | 1,352,415 | 15.79 | % | $ | 1,571,060 | 19.12 | % | $ | 1,402,691 | 17.08 | % | |||||||||||||||||
Total Capital minimum requirement | 685,799 | 8 | 685,402 | 8 | 657,426 | 8 | 656,880 | 8 | |||||||||||||||||||||||||
Excess | $ | 715,520 | 8.35 | % | $ | 667,013 | 7.79 | % | $ | 913,634 | 11.12 | % | $ | 745,811 | 9.08 | % | |||||||||||||||||
Tier I Capital (to average assets) Leverage ratio | $ | 1,288,892 | 12.48 | % | $ | 1,244,480 | 12.06 | % | $ | 1,426,566 | 13.82 | % | $ | 1,259,005 | 12.22 | % | |||||||||||||||||
Minimum leverage requirement | 413,158 | 4 | 412,815 | 4 | 412,844 | 4 | 412,272 | 4 | |||||||||||||||||||||||||
Excess | $ | 875,734 | 8.48 | % | $ | 831,665 | 8.06 | % | $ | 1,013,722 | 9.82 | % | $ | 846,733 | 8.22 | % | |||||||||||||||||
Total average assets (1) | $ | 10,328,952 | $ | 10,320,368 | $ | 10,321,104 | $ | 10,306,790 | |||||||||||||||||||||||||
Risk-weighted assets | $ | 8,572,487 | $ | 8,567,523 | $ | 8,217,821 | $ | 8,211,004 | |||||||||||||||||||||||||
-1 | Average assets represent average balances for the fourth quarter of each year presented. | ||||||||||||||||||||||||||||||||
On December 17, 2009, the Bancorp entered into a memorandum of understanding with Federal Reserve Bank of San Francisco (the “FRB SF”). Although the memorandum of understanding was terminated effective April 5, 2013, we remain subject to Federal Reserve supervisory policies, including informing and consulting with the FRB SF sufficiently in advance of any planned capital actions (i.e. increased dividend payments or stock redemptions). |
Note_23_Balance_Sheet_Offsetti
Note 23 - Balance Sheet Offsetting | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||||||||||||||
Supplemental Balance Sheet Disclosures [Text Block] | ' | ||||||||||||||||||||||||
23. Balance Sheet Offsetting | |||||||||||||||||||||||||
Certain financial instruments, including resell and repurchase agreements, securities lending arrangements and derivatives, may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements or similar agreements. The Company’s securities sold with agreements to repurchase and derivative transactions with upstream financial institution counter parties are generally executed under International Swaps and Derivative Association master agreements which include “right of set-off” provisions. In such cases there is generally a legally enforceable right to offset recognized amounts and there may be an intention to settle such amounts on a net basis. Nonetheless, the Company does not generally offset such financial instruments for financial reporting purposes. | |||||||||||||||||||||||||
Financial instruments that are eligible for offset in the condensed consolidated balance sheets, as of December 31, 2013, and December 31, 2012, are presented in the following tables: | |||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position | |||||||||||||||||||||||||
Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Balance Sheet | Net Amounts of Liabilities Presented in the Balance Sheet | Financial Instruments | Collateral Posted | Net Amount | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Securities sold under agreements to repurchase | $ | 800,000 | $ | - | $ | 800,000 | $ | - | $ | (800,000 | ) | $ | - | ||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Securities sold under agreements to repurchase | $ | 1,250,000 | $ | - | $ | 1,250,000 | $ | - | $ | (1,250,000 | ) | $ | - | ||||||||||||
Note_24_Quarterly_Results_of_O
Note 24 - Quarterly Results of Operations (Unaudited) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Quarterly Financial Information [Text Block] | ' | ||||||||||||||||||||||||||||||||
24. Quarterly Results of Operations (Unaudited) | |||||||||||||||||||||||||||||||||
The following table sets forth selected unaudited quarterly financial data: | |||||||||||||||||||||||||||||||||
Summary of Operations | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
Fourth | Third | Second | First | Fourth | Third | Second | First | ||||||||||||||||||||||||||
Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||||||||||
(In thousands, except per share data) | |||||||||||||||||||||||||||||||||
Interest income | $ | 101,621 | $ | 102,462 | $ | 100,862 | $ | 102,051 | $ | 105,281 | $ | 106,747 | $ | 107,581 | $ | 110,135 | |||||||||||||||||
Interest expense | 19,659 | 19,854 | 20,868 | 21,919 | 24,216 | 26,330 | 28,461 | 29,484 | |||||||||||||||||||||||||
Net interest income | 81,962 | 82,608 | 79,994 | 80,132 | 81,065 | 80,417 | 79,120 | 80,651 | |||||||||||||||||||||||||
Reversal for credit losses | - | (3,000 | ) | - | - | - | - | (5,000 | ) | (4,000 | ) | ||||||||||||||||||||||
Net-interest income after provision for loan losses | 81,962 | 85,608 | 79,994 | 80,132 | 81,065 | 80,417 | 84,120 | 84,651 | |||||||||||||||||||||||||
Non-interest income | 8,345 | 16,720 | 20,361 | 14,881 | 12,202 | 15,622 | 9,852 | 8,831 | |||||||||||||||||||||||||
Non-interest expense | 40,319 | 50,670 | 53,716 | 49,128 | 49,532 | 47,844 | 47,342 | 47,871 | |||||||||||||||||||||||||
Income before income tax expense | 49,988 | 51,658 | 46,639 | 45,885 | 43,735 | 48,195 | 46,630 | 45,611 | |||||||||||||||||||||||||
Income tax expense | 17,946 | 19,029 | 16,573 | 16,887 | 15,276 | 17,686 | 16,619 | 16,547 | |||||||||||||||||||||||||
Net income | 32,042 | 32,629 | 30,066 | 28,998 | 28,459 | 30,509 | 30,011 | 29,064 | |||||||||||||||||||||||||
Less: net income attributable to noncontrolling interest | 140 | 151 | 150 | 151 | 153 | 151 | 150 | 151 | |||||||||||||||||||||||||
Net income attributable to Cathay General Bancorp | 31,902 | 32,478 | 29,916 | 28,847 | 28,306 | 30,358 | 29,861 | 28,913 | |||||||||||||||||||||||||
Dividends on preferred stock | - | (2,434 | ) | (2,067 | ) | (5,184 | ) | (4,127 | ) | (4,123 | ) | (4,121 | ) | (4,117 | ) | ||||||||||||||||||
Net income available to common stockholders | $ | 31,902 | $ | 30,044 | $ | 27,849 | $ | 23,663 | $ | 24,179 | $ | 26,235 | $ | 25,740 | $ | 24,796 | |||||||||||||||||
Basic net income attributable to common stockholders per common share | $ | 0.4 | $ | 0.38 | $ | 0.35 | $ | 0.3 | $ | 0.31 | $ | 0.33 | $ | 0.33 | $ | 0.32 | |||||||||||||||||
Diluted net income attributable to common stockholders per common share | $ | 0.4 | $ | 0.38 | $ | 0.35 | $ | 0.3 | $ | 0.31 | $ | 0.33 | $ | 0.33 | $ | 0.32 | |||||||||||||||||
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Accounting Policies [Abstract] | ' | |||||
Use of Estimates, Policy [Policy Text Block] | ' | |||||
Use of Estimates. The preparation of the Consolidated Financial Statements in accordance with GAAP requires management of the Company to make a number of estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. The significant estimates subject to change relate to the allowance for loan losses, goodwill impairment assessment, other-than-temporary impairment analysis on investments, fair value disclosures, and the fair value of options granted. The more significant of these policies are described below. | ||||||
Concentration Risk, Credit Risk, Policy [Policy Text Block] | ' | |||||
Concentrations. The Bank was incorporated in California and started its business from California. Therefore, loans originated and deposits solicited were mainly from California. As of December 31, 2013, gross loans were primarily comprised of 49.8% of commercial mortgage loans and 28.4% of commercial loans. As of December 31, 2013, approximately 59% of the Bank’s residential mortgages were for properties located in California. Total deposits were comprised of 39.3% of time deposit of $100,000 or more (Jumbo CDs) at December 31, 2013, and approximately 67.7% of the Company’s Jumbo CDs have been on deposit with the Company for two years or more. | ||||||
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | ' | |||||
Allowance for Loan Losses. The determination of the amount of the provision for loan losses charged to operations reflects management’s current judgment about the credit quality of the loan portfolio and takes into consideration changes in lending policies and procedures, changes in economic and business conditions, changes in the nature and volume of the portfolio and in the terms of loans, changes in the experience, ability and depth of lending management, changes in the volume and severity of past due, non-accrual and adversely classified or graded loans, changes in the quality of the loan review system, changes in the value of underlying collateral for collateral-dependent loans, the existence and effect of any concentrations of credit and the effect of competition, legal and regulatory requirements, and other external factors. The nature of the process by which loan losses is determined and the appropriate allowance for loan losses requires the exercise of considerable judgment. The allowance is increased by the provision for loan losses and decreased by charge-offs when management believes the uncollectibility of a loan is confirmed. | ||||||
Subsequent recoveries, if any, are credited to the allowance. A weakening of the economy or other factors that adversely affect asset quality could result in an increase in the number of delinquencies, bankruptcies, or defaults, and a higher level of non-performing assets, net charge-offs, and provision for loan losses in future periods. | ||||||
The total allowance for loan losses consists of two components: specific allowances and general allowances. To determine the adequacy of the allowance in each of these two components, two primary methodologies are employed, the individual loan review analysis methodology and the classification migration methodology. These methodologies support the basis for determining allocations between the various loan categories and the overall adequacy of our allowance to provide for probable losses inherent in the loan portfolio. These methodologies are further supported by additional analysis of relevant factors such as the historical losses in the portfolio, and environmental factors which include trends in delinquency and non-accrual, and other significant factors, such as the national and local economy, the volume and composition of the portfolio, strength of management and loan staff, underwriting standards, and the concentration of credit. | ||||||
The Bank’s management allocates a specific allowance for “Impaired Credits,” in accordance with Accounting Standard Codification (“ASC”) Section 310-10-35. For non-Impaired Credits, a general allowance is established for those loans internally classified and risk graded Pass, Minimally Acceptable, Special Mention, or Substandard based on historical losses in the specific loan portfolio and a reserve based on environmental factors determined for that loan group. The level of the general allowance is established to provide coverage for management’s estimate of the credit risk in the loan portfolio by various loan segments not covered by the specific allowance. | ||||||
Repurchase and Resale Agreements Policy [Policy Text Block] | ' | |||||
Securities Purchased Under Agreements to Resell. The Company purchases securities under agreements to resell with various terms. These agreements are collateralized by agency securities and mortgage backed securities that are generally held by a third party custodian. The purchases are over-collateralized to ensure against unfavorable market price movements. In the event that the fair market value of the securities decreases below the collateral requirements under the related repurchase agreements, the counterparty is required to deliver additional securities. The counterparties to these agreements are nationally recognized investment banking firms that meet credit eligibility criteria and with whom a master repurchase agreement has been duly executed. | ||||||
Marketable Securities, Held-to-maturity Securities, Policy [Policy Text Block] | ' | |||||
Securities. Securities are classified as held-to-maturity when management has the ability and intent to hold these securities until maturity. Securities are classified as available-for-sale when management intends to hold the securities for an indefinite period of time, or when the securities may be utilized for tactical asset/liability purposes, and may be sold from time to time to manage interest rate exposure and resultant prepayment risk and liquidity needs. Securities are classified as trading securities when management intends to sell the securities in the near term. Securities purchased are designated as held-to-maturity, available-for-sale, or trading securities at the time of acquisition. | ||||||
Securities held-to-maturity are stated at cost, adjusted for the amortization of premiums and the accretion of discounts on a level-yield basis. The carrying value of these assets is not adjusted for temporary declines in fair value since the Company has the positive intent and ability to hold them to maturity. Securities available-for-sale are carried at fair value, and any unrealized holding gains or losses are excluded from earnings and reported as a separate component of stockholders’ equity, net of tax, in accumulated other comprehensive income until realized. Realized gains or losses are determined on the specific identification method. Premiums and discounts are amortized or accreted as adjustment of yield on a level-yield basis. | ||||||
ASC Topic 320 requires an entity to assess whether the entity has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. If either of these conditions is met, an entity must recognize an other-than-temporary impairment (“OTTI”). If an entity does not intend to sell the debt security and will not be required to sell the debt security, the entity must consider whether it will recover the amortized cost basis of the security. If the present value of expected cash flows is less than the amortized cost basis of the security, OTTI shall be considered to have occurred. OTTI is then separated into the amount of the total impairment related to credit losses and the amount of the total impairment related to all other factors. An entity determines the impairment related to credit losses by comparing the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. OTTI related to the credit loss is then recognized in earnings. OTTI related to all other factors is recognized in other comprehensive income. OTTI not related to the credit loss for a held-to-maturity security should be recognized separately in a new category of other comprehensive income and amortized over the remaining life of the debt security as an increase in the carrying value of the security only when the entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its remaining amortized cost basis. The Company has both the ability and the intent to hold and it is not more likely than not that the Company will be required to sell those securities with unrealized losses before recovery of their amortized cost basis. | ||||||
Trading securities are reported at fair value, with unrealized gains or losses included in income. | ||||||
Investment In Federal Home Loan Bank Stock [Policy Text Block] | ' | |||||
Investment in Federal Home Loan Bank (“FHLB”) Stock. As a member of the FHLB system the Bank is required to maintain an investment in the capital stock of the FHLB. The amount of investment is also affected by the outstanding advances under the line of credit the Bank maintains with the FHLB. FHLB stock is carried at cost and is pledged as collateral to the FHLB. FHLB stock is periodically evaluated for impairment based on ultimate recovery of par value. The carrying amount of the FHLB stock was $25.0 million at December 31, 2013, and $41.3 million at December 31, 2012. As of December 31, 2013, the Company owned 250,000 shares of FHLB stock, which was the minimum stock requirement based on outstanding FHLB borrowings of $521.2 million. | ||||||
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | ' | |||||
Loans. Loans are carried at amounts advanced, less principal payments collected and net deferred loan fees. Interest is accrued and earned daily on an actual or 360-day basis. Interest accruals on business loans and non-residential real estate loans are generally discontinued whenever the payment of interest or principal is 90 days or more past due, based on contractual terms. Such loans are placed on non-accrual status, unless the loan is well secured, and there is a high probability of recovery in full, as determined by management. When loans are placed on non-accrual status, previously accrued but unpaid interest is reversed and charged against current income, and subsequent payments received are generally first applied toward the outstanding principal balance of the loan. The loan is generally returned to accrual status when the borrower has brought the past due principal and interest payments current and, in the opinion of management, the borrower has demonstrated the ability to make future payments of principal and interest as scheduled. A non-accrual loan may also be returned to accrual status if all principal and interest contractually due are reasonably assured of repayment within a reasonable period and there has been a sustained period of payment performance, generally six months. Loan origination fees and commitment fees, offset by certain direct loan origination costs, are deferred and recognized over the contractual life of the loan as a yield adjustment. The amortization utilizes the interest method. If a loan is placed on non-accrual status, the amortization of the loan fees and the accretion of discounts are discontinued until the loan is returned to accruing status. | ||||||
Loans held for sale are carried at the lower of aggregate cost or fair value. Gains and losses are recorded in non-interest income based on the difference between sales proceeds, net of sales commissions, and carrying value. | ||||||
Loans and Leases Receivable, Real Estate Acquired Through Foreclosure, Policy [Policy Text Block] | ' | |||||
Loans Acquired Through Transfer. Loans acquired through the completion of a transfer, including loans acquired in a business combination, that have evidence of deterioration of credit quality since origination and for which it is probable, at acquisition, that the Company will be unable to collect all contractually required payment, receivables are initially recorded at fair value (as determined by the present value of expected future cash flows) with no valuation allowance. The difference between the undiscounted cash flows expected at acquisition and the investment in the loan, or the “accretable yield,” is recognized as interest income on a level-yield method over the life of the loan. Contractually required payments for interest and principal that exceed the undiscounted cash flows expected at acquisition, or the “nonaccretable difference,” are not recognized as a yield adjustment or as a loss accrual or a valuation allowance. Increases in expected cash flows subsequent to the initial investment are recognized prospectively through adjustment of the yield on the loan over its remaining life. Decreases in expected cash flows are recognized as impairment. Valuation allowance on these impaired loans reflect only losses incurred after the acquisition. | ||||||
Impaired Financing Receivable, Policy [Policy Text Block] | ' | |||||
Impaired Loans. A loan is considered impaired when it is probable that the Bank will be unable to collect all amounts due (i.e. both principal and interest) according to the contractual terms of the loan agreement. The measurement of impairment may be based on (1) the present value of the expected future cash flows of the impaired loan discounted at the loan’s original effective interest rate, (2) the observable market price of the impaired loan or (3) the fair value of the collateral of a collateral-dependent loan. The amount by which the recorded investment in the loan exceeds the measure of the impaired loan is recognized by recording a valuation allowance with a corresponding charge to the provision for loan losses. The Company stratifies its loan portfolio by size and treats smaller non-performing loans with an outstanding balance based on the Company’s defined criteria, generally where the loan amount is $500,000 or less, as a homogenous portfolio. Once a loan has been identified as a possible problem loan, the Company conducts a periodic review of such loan in order to test for impairment. When loans are placed on an impaired status, previously accrued but unpaid interest is reversed against current income and subsequent payments received are generally first applied toward the outstanding principal balance of the loan. | ||||||
Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block] | ' | |||||
Troubled Debt Restructured Loan (“TDR”). A TDR is a formal modification of the terms of a loan when the lender, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower. The concessions may be granted in various forms, including reduction in the stated interest rate, reduction in the loan balance or accrued interest, or extension of the maturity date. Although these loan modifications are considered TDRs, accruing TDR loans have, pursuant to the Bank’s policy, performed under the restructured terms and have demonstrated sustained performance under the modified terms for six months before being returned to accrual status. The sustained performance considered by management pursuant to its policy includes the periods prior to the modification if the prior performance met or exceeded the modified terms. This would include cash paid by the borrower prior to the restructure to set up interest reserves. Loans classified as TDRs are reported as impaired loans. | ||||||
Loan Commitments, Policy [Policy Text Block] | ' | |||||
Unfunded Loan Commitments. Unfunded loan commitments are generally related to providing credit facilities to clients of the Bank, and are not actively traded financial instruments. These unfunded commitments are disclosed as off-balance sheet financial instruments in Note 14 in the Notes to Consolidated Financial Statements. | ||||||
Letter Of Credit Fees [Policy Text Block] | ' | |||||
Letter of Credit Fees. Issuance and commitment fees received for the issuance of commercial or standby letters of credit are recognized over the term of the instruments. | ||||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | |||||
Premises and Equipment. Premises and equipment are carried at cost, less accumulated depreciation. Depreciation is computed on the straight-line method based on the following estimated useful lives of the assets: | ||||||
Type | Estimated Useful Life | |||||
Buildings (years) | 15 | to | 45 | |||
Building improvements (years) | 5 | to | 20 | |||
Furniture, fixtures, and equipment (years) | 3 | to | 25 | |||
Leasehold improvements | Shorter of useful lives or the terms of the leases | |||||
Improvements are capitalized and amortized to occupancy expense based on the above table. Construction in process is carried at cost and includes land acquisition cost, architectural fees, general contractor fees, capitalized interest and other costs related directly to the construction of a property. | ||||||
Real Estate Owned, Valuation Allowance, Policy [Policy Text Block] | ' | |||||
Other Real Estate Owned. Real estate acquired in the settlement of loans is initially recorded at fair value, less estimated costs to sell. Specific valuation allowances on other real estate owned are recorded through charges to operations to recognize declines in fair value subsequent to foreclosure. Gains on sales are recognized when certain criteria relating to the buyer’s initial and continuing investment in the property are met. | ||||||
Investments In Affordable Housing [Policy Text Block] | ' | |||||
Investments in Affordable Housing. The Company is a limited partner in limited partnerships that invest in low-income housing projects that qualify for Federal and/or State income tax credits. As further discussed in Note 7, the partnership interests are accounted for utilizing the equity method of accounting. As of December 31, 2013, six of the limited partnerships in which the Company has an equity interest were determined to be variable interest entities for which the Company is the primary beneficiary. The Company therefore consolidated the financial statements of these six limited partnerships into its Consolidated Financial Statements. | ||||||
Investments In Venture Capital [Policy Text Block] | ' | |||||
Investments in Venture Capital. The Company invests in limited partnerships that invest in nonpublic companies. These are commonly referred to as venture capital investments. These limited partnership interests represent ownership of less than 5% and are carried under the cost method with other-than-temporary impairment charged against net income. | ||||||
Goodwill and Intangible Assets, Policy [Policy Text Block] | ' | |||||
Goodwill and Goodwill Impairment. Goodwill represents the excess of costs over fair value of assets of businesses acquired. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but instead are tested for impairment at least annually in accordance with the provisions of ASC Topic 350. ASC Topic 350 also requires that intangible assets with estimable useful lives be amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment in accordance with ASC Topic 360, formerly, SFAS No. 144, “Accounting for Impairment or Disposal of Long-Lived Assets.” | ||||||
The Company’s policy is to assess goodwill for impairment at the reporting unit level on an annual basis or between annual assessments if a triggering event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Impairment is the condition that exists when the carrying amount of goodwill exceeds its implied fair value. Accounting standards require management to estimate the fair value of each reporting unit in making the assessment of impairment at least annually. | ||||||
The Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test described in ASC Topic 350. The two-step impairment testing process conducted by us, if needed, begins by assigning net assets and goodwill to our reporting units. The Company then completes “step one” of the impairment test by comparing the fair value of each reporting unit (as determined based on the discussion below) with the recorded book value (or “carrying amount”) of its net assets, with goodwill included in the computation of the carrying amount. If the fair value of a reporting unit exceeds its carrying amount, goodwill of that reporting unit is not considered impaired, and “step two” of the impairment test is not necessary. If the carrying amount of a reporting unit exceeds its fair value, step two of the impairment test is performed to determine the amount of impairment. Step two of the impairment test compares the carrying amount of the reporting unit’s goodwill to the “implied fair value” of that goodwill. The implied fair value of goodwill is computed by assuming that all assets and liabilities of the reporting unit would be adjusted to the current fair value, with the offset as an adjustment to goodwill. This adjusted goodwill balance is the implied fair value used in step two. An impairment charge is recognized for the amount by which the carrying amount of goodwill exceeds its implied fair value. | ||||||
The Company has identified two reporting units for its business: the Commercial Lending unit and the Retail Banking unit. The reporting unit fair values were determined based on an equal weighting of (1) a market approach using a combination of price to earnings multiples determined based on a representative peer group applied to 2013 and forecasted 2014 and 2015 earnings, and a price to book multiple and (2) a dividend discount model with the discount rate determined using the same representative peer group. A control premium was then applied to the unit fair values so determined as of December 31, 2013. As a result of this analysis, the Company determined that there was no goodwill impairment at December 31, 2013 as the fair value of all reporting units exceeded the current carrying amount of the units. No assurance can be given that goodwill will not be written down in future periods. | ||||||
Prior to the Company’s reorganization which was effective October 1, 2013, the Company had identified three reporting units for its business, the Commercial Lending unit, the Retail Banking unit and the East Coast Operations unit. As a result of the Company’s reorganization, the activities of the East Coast Operations unit were assigned to the Commercial Lending unit and the Retail Banking unit and the $81 million of goodwill previously assigned to the East Coast Operations unit was allocated to the Commercial Lending unit and the Retail Banking unit in proportion to the fair value of the activities assigned to such units. | ||||||
Core Deposit Premium. Core deposit premium, which represents the purchase price over the fair value of the deposits acquired from other financial institutions, is amortized over its estimated useful life to its residual value in proportion to the economic benefits consumed. If a pattern of consumption cannot be reliably determined, straight-line amortization is used. The Company assesses the recoverability of this intangible asset by determining whether the amortization of the premium balance over its remaining life can be recovered through the remaining deposit portfolio and amortizes core deposit premium over its estimated useful life. | ||||||
At December 31, 2013, the unamortized balance of core deposit premium was $882,000 compared to $4.9 million at December 31, 2012. Aggregate amortization expense for core deposit premium was $4.5 million for 2013, $5.7 million for 2012, and $5.9 million for 2011. | ||||||
Repurchase Agreements, Valuation, Policy [Policy Text Block] | ' | |||||
Securities Sold Under Agreements to Repurchase. The Company sells certain securities under agreements to repurchase. The agreements are treated as collateralized financing transactions and the obligations to repurchase securities sold are reflected as a liability in the accompanying Consolidated Balance Sheets. The securities underlying the agreements remain in the applicable asset accounts. | ||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | |||||
Stock-Based Compensation. Stock option compensation expense is calculated based on the fair value of the award at the grant date for those options expected to vest, and is recognized as an expense over the vesting period of the grant using the straight-line method. The Company uses the Black-Scholes option pricing model to estimate the value of granted options. This model takes into account the option exercise price, the expected life, the current price of the underlying stock, the expected volatility of the Company’s stock, expected dividends on the stock and a risk-free interest rate. The Company estimates the expected volatility based on the Company’s historical stock prices for the period corresponding to the expected life of the stock options. Restricted stock units are valued at the closing price of the Company’s stock on the date of the grant. Stock-based compensation is recognized ratably over the requisite service period for all awards. | ||||||
Derivatives, Policy [Policy Text Block] | ' | |||||
Foreign Exchange Forwards and Foreign Currency Option Contracts. We enter into foreign exchange forward contracts and foreign currency option contracts with correspondent banks to mitigate the risk of fluctuations in foreign currency exchange rates for foreign currency certificates of deposit, foreign exchange contracts or foreign currency option contracts entered into with our clients. These contracts are not designated as hedging instruments and are recorded at fair value in our Consolidated Balance Sheets. Changes in the fair value of these contracts as well as the related foreign currency certificates of deposit, foreign exchange contracts or foreign currency option contracts, are recognized immediately in net income as a component of non-interest income. Period end gross positive fair values are recorded in other assets and gross negative fair values are recorded in other liabilities. | ||||||
Income Tax, Policy [Policy Text Block] | ' | |||||
Income Taxes. The provision for income taxes is based on income reported for financial statement purposes, and differs from the amount of taxes currently payable, since certain income and expense items are reported for financial statement purposes in different periods than those for tax reporting purposes. The Company accounts for income taxes using the asset and liability approach, the objective of which is to establish deferred tax assets and liabilities for the temporary differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled. A valuation allowance is established for deferred tax assets if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. | ||||||
Comprehensive Income, Policy [Policy Text Block] | ' | |||||
Comprehensive Income/(loss). Comprehensive income/(loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. Comprehensive income/(loss) generally includes net income/(loss), foreign currency translation adjustments, minimum pension liability adjustments, unrealized gains and losses on investments in securities available-for-sale, and cash flow hedges. Comprehensive income/(loss) and its components are reported and displayed in the Company’s consolidated statements of operations and comprehensive income/(loss). | ||||||
Earnings Per Share, Policy [Policy Text Block] | ' | |||||
Net Income per Common Share. Earnings per share (“EPS”) is computed on a basic and diluted basis. Basic EPS excludes dilution and is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shares in the earnings of the Company. Potential dilution is excluded from computation of diluted per-share amounts when a net loss from operations exists. | ||||||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' | |||||
Foreign Currency Translation. The Company considers the functional currency of its foreign operations to be the United States dollar. Accordingly, the Company remeasures monetary assets and liabilities at year-end exchange rates, while nonmonetary items are remeasured at historical rates. Income and expense accounts are remeasured at the average rates in effect during the year, except for depreciation, which is remeasured at historical rates. Foreign currency transaction gains and losses are recognized in income in the period of occurrence. | ||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | |||||
Statement of Cash Flows. Cash and cash equivalents include short-term highly-liquid investments that generally have an original maturity of three months or less. | ||||||
Segment Reporting, Policy [Policy Text Block] | ' | |||||
Segment Information and Disclosures. Accounting principles generally accepted in the United States of America establish standards to report information about operating segments in annual financial statements and require reporting of selected information about operating segments in interim reports to stockholders. It also establishes standards for related disclosures about products and services, geographic areas, and major customers. The Company has concluded it has one operating segment. | ||||||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | |||||
Recent Accounting Pronouncements | ||||||
In January 2013, the Financial Accounting Standard Board (“FASB”) issued ASU 2013-01, “Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities.” ASU No. 2013-01 clarifies that the scope of Update 2011-11 applies to derivatives, repurchase agreements, and securities lending transactions to the extent that they are either offset in the financial statements or subject to an enforceable master netting arrangement or similar agreement. ASU 2013-01 became effective for interim and annual periods beginning on or after January 1, 2013. Adoption of ASU 2013-01 did not have a significant impact on the Company’s consolidated financial statements. See Note 23 to the Company’s consolidated financial statements for the disclosure of adoption of ASU 2013-01. | ||||||
In February 2013, the FASB issued ASU 2013-02 “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” ASU 2013-02 amends Topic 220, “Comprehensive Income,” to improve the reporting of reclassification out of accumulated other comprehensive income. The amendments do not change the current requirements for reporting net income or other comprehensive income in financial statements. However, the amendments require an entity to provide information about the amounts reclassified and to present significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. ASU 2013-02 became effective prospectively for reporting periods beginning after December 15, 2012. Adoption of ASU 2013-02 did not have a significant impact on the Company’s consolidated financial statements. See Note 13 to the Company’s Condensed Consolidated Financial Statements for the disclosure of adoption of ASU 2013-02. | ||||||
In July 2013, the FASB issued ASU 2013-11 “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” ASU 2013-11 amends Topic 740, “Income Taxes,” to eliminate the diversity on the financial statement presentation of an unrecognized tax benefit. An unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. However , to the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date to settle any additional income taxes, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. ASU 2013-11 became effective prospectively for reporting periods beginning after December 15, 2013. Adoption of ASU 2013-11 did not have a significant impact on the Company’s Consolidated Financial Statements. |
Note_1_Summary_of_Significant_1
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Accounting Policies [Abstract] | ' | |||||
Schedule Of Estimated Useful Lives Of Assets [Table Text Block] | ' | |||||
Type | Estimated Useful Life | |||||
Buildings (years) | 15 | to | 45 | |||
Building improvements (years) | 5 | to | 20 | |||
Furniture, fixtures, and equipment (years) | 3 | to | 25 | |||
Leasehold improvements | Shorter of useful lives or the terms of the leases |
Note_4_Investment_Securities_T
Note 4 - Investment Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Schedule of Amortized Cost Gross Unrealized Gains Gross Unrealized Losses and Fair Values of Investment [Table text Block] | ' | ||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||||||||||||||
U.S. treasury securities | $ | 460,095 | $ | 99 | $ | 1 | $ | 460,193 | |||||||||||||||||||||||||||||
Mortgage-backed securities | 1,010,294 | 7,049 | 64,529 | 952,814 | |||||||||||||||||||||||||||||||||
Collateralized mortgage obligations | 5,929 | 231 | 54 | 6,106 | |||||||||||||||||||||||||||||||||
Asset-backed securities | 123 | - | - | 123 | |||||||||||||||||||||||||||||||||
Corporate debt securities | 154,955 | 298 | 4,949 | 150,304 | |||||||||||||||||||||||||||||||||
Mutual funds | 6,000 | - | 275 | 5,725 | |||||||||||||||||||||||||||||||||
Preferred stock of government sponsored entities | 569 | 10,834 | - | 11,403 | |||||||||||||||||||||||||||||||||
Total securities available-for-sale | $ | 1,637,965 | $ | 18,511 | $ | 69,808 | $ | 1,586,668 | |||||||||||||||||||||||||||||
Total investment securities | $ | 1,637,695 | $ | 18,511 | $ | 69,808 | $ | 1,586,668 | |||||||||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||
Securities Held-to-Maturity | |||||||||||||||||||||||||||||||||||||
State and municipal securities | $ | 129,037 | $ | 9,268 | $ | - | $ | 138,305 | |||||||||||||||||||||||||||||
Mortgage-backed securities | 634,757 | 40,801 | - | 675,558 | |||||||||||||||||||||||||||||||||
Corporate debt securities | 9,974 | 69 | - | 10,043 | |||||||||||||||||||||||||||||||||
Total securities held-to-maturity | $ | 773,768 | $ | 50,138 | $ | - | $ | 823,906 | |||||||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||||||||||||||
U.S. treasury securities | $ | 509,748 | $ | 228 | $ | 5 | $ | 509,971 | |||||||||||||||||||||||||||||
Mortgage-backed securities | 404,505 | 12,194 | 5 | 416,694 | |||||||||||||||||||||||||||||||||
Collateralized mortgage obligations | 9,772 | 430 | 34 | 10,168 | |||||||||||||||||||||||||||||||||
Asset-backed securities | 145 | - | 4 | 141 | |||||||||||||||||||||||||||||||||
Corporate debt securities | 349,973 | 106 | 14,102 | 335,977 | |||||||||||||||||||||||||||||||||
Mutual funds | 6,000 | 79 | - | 6,079 | |||||||||||||||||||||||||||||||||
Preferred stock of government sponsored entities | 569 | 1,766 | - | 2,335 | |||||||||||||||||||||||||||||||||
Trust preferred securities | 9,964 | 151 | - | 10,115 | |||||||||||||||||||||||||||||||||
Total securities available-for-sale | $ | 1,290,676 | $ | 14,954 | $ | 14,150 | $ | 1,291,480 | |||||||||||||||||||||||||||||
Total investment securities | $ | 2,064,444 | $ | 65,092 | $ | 14,150 | $ | 2,115,386 | |||||||||||||||||||||||||||||
Schedule of Amortized Cost and Fair Value of Investment Securities by Contractual Maturities [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||||||||||||||
Amortized Cost | Fair Value | ||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||
Due in one year or less | $ | 460,106 | $ | 460,204 | |||||||||||||||||||||||||||||||||
Due after one year through five years | 80,769 | 82,079 | |||||||||||||||||||||||||||||||||||
Due after five years through ten years | 112,654 | 108,840 | |||||||||||||||||||||||||||||||||||
Due after ten years (1) | 984,436 | 935,545 | |||||||||||||||||||||||||||||||||||
Total | $ | 1,637,965 | $ | 1,586,668 | |||||||||||||||||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Temporarily Impaired Securities | |||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||||||||||||
Fair | Unrealized | No. of | Fair | Unrealized | No. of | Fair | Unrealized | No. of | |||||||||||||||||||||||||||||
Value | Losses | Issuances | Value | Losses | Issuances | Value | Losses | Issuances | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||||||||||||||
U.S. treasury securities | $ | 75,064 | $ | 1 | 1 | $ | - | $ | - | - | $ | 75,064 | $ | 1 | 1 | ||||||||||||||||||||||
Mortgage-backed securities | 792,012 | 64,526 | 25 | 272 | 2 | 7 | 792,284 | 64,528 | 32 | ||||||||||||||||||||||||||||
Mortgage-backed securities-Non-agency | 94 | 1 | 1 | - | - | - | 94 | 1 | 1 | ||||||||||||||||||||||||||||
Collateralized mortgage obligations | 68 | 4 | 2 | 301 | 50 | 3 | 369 | 54 | 5 | ||||||||||||||||||||||||||||
Corporate debt securities | 9,970 | 30 | 1 | 100,081 | 4,919 | 8 | 110,051 | 4,949 | 9 | ||||||||||||||||||||||||||||
Mutual funds | - | - | - | 5,724 | 275 | 1 | 5,724 | 275 | 1 | ||||||||||||||||||||||||||||
Total securities available-for-sale | $ | 877,208 | $ | 64,562 | 30 | $ | 106,378 | $ | 5,246 | 19 | $ | 983,586 | $ | 69,808 | 49 | ||||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||
Temporarily Impaired Securities | |||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||||||||||||||
Fair | Unrealized | No. of | Fair | Unrealized | No. of | Fair | Unrealized | No. of | |||||||||||||||||||||||||||||
Value | Losses | Issuances | Value | Losses | Issuances | Value | Losses | Issuances | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||||
Securities Held-to-Maturity | |||||||||||||||||||||||||||||||||||||
Total securities held-to-maturity | $ | - | $ | - | - | $ | - | $ | - | - | $ | - | $ | - | - | ||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||||||||||||||
U.S. treasury securities | $ | 49,969 | $ | 5 | 1 | $ | - | $ | - | - | $ | 49,969 | $ | 5 | 1 | ||||||||||||||||||||||
Mortgage-backed securities | 231 | 1 | 2 | 170 | 1 | 6 | 401 | 2 | 8 | ||||||||||||||||||||||||||||
Mortgage-backed securities-Non-agency | - | - | - | 96 | 2 | 1 | 96 | 2 | 1 | ||||||||||||||||||||||||||||
Collateralized mortgage obligations | - | - | - | 439 | 35 | 4 | 439 | 35 | 4 | ||||||||||||||||||||||||||||
Asset-backed securities | - | - | - | 141 | 4 | 1 | 141 | 4 | 1 | ||||||||||||||||||||||||||||
Corporate debt securities | 52,468 | 2,532 | 4 | 253,430 | 11,570 | 22 | 305,898 | 14,102 | 26 | ||||||||||||||||||||||||||||
Total securities available-for-sale | $ | 102,668 | $ | 2,538 | 7 | $ | 254,276 | $ | 11,612 | 34 | $ | 356,944 | $ | 14,150 | 41 |
Note_5_Loans_Tables
Note 5 - Loans (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Components Of Loans In Consolidated Balance Sheets [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Type of Loans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | $ | 2,298,724 | $ | 2,127,107 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Real estate construction loans | 221,701 | 180,950 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage loans | 4,023,051 | 3,768,452 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | 1,355,255 | 1,146,230 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity lines | 171,277 | 193,852 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Installment and other loans | 14,555 | 12,556 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross loans | 8,084,563 | 7,429,147 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Less: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (173,889 | ) | (183,322 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Unamortized deferred loan fees | (13,487 | ) | (10,238 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total loans and leases, net | $ | 7,897,187 | $ | 7,235,587 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Related Party Transactions [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of year | $ | 172,584 | $ | 160,069 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Additional loans made | 64,063 | 92,249 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Payment received | (109,662 | ) | (79,734 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of year | $ | 126,985 | $ | 172,584 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Impaired Loans And Related Allowance And Charge-Off [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Unpaid Principal Balance | Recorded Investment | Allowance | Unpaid Principal Balance | Recorded Investment | Allowance | |||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
With no allocated allowance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | $ | 20,992 | $ | 18,905 | $ | - | $ | 29,359 | $ | 18,963 | $ | - | ||||||||||||||||||||||||||||||||||||||||||
Real estate construction loans | 25,401 | 15,097 | - | 9,304 | 7,277 | - | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage loans | 105,593 | 78,930 | - | 189,871 | 152,957 | - | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage and equity lines | 4,892 | 4,892 | - | 4,303 | 4,229 | - | ||||||||||||||||||||||||||||||||||||||||||||||||
Subtotal | $ | 156,878 | $ | 117,824 | $ | - | $ | 232,837 | $ | 183,426 | $ | - | ||||||||||||||||||||||||||||||||||||||||||
With allocated allowance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | $ | 22,737 | $ | 13,063 | $ | 2,519 | $ | 7,804 | $ | 4,959 | $ | 1,467 | ||||||||||||||||||||||||||||||||||||||||||
Real estate construction loans | 28,475 | 19,323 | 3,460 | 54,718 | 34,856 | 8,158 | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage loans | 39,223 | 35,613 | 6,584 | 14,163 | 12,928 | 1,336 | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage and equity lines | 16,535 | 14,957 | 721 | 14,264 | 12,428 | 1,222 | ||||||||||||||||||||||||||||||||||||||||||||||||
Subtotal | $ | 106,970 | $ | 82,956 | $ | 13,284 | $ | 90,949 | $ | 65,171 | $ | 12,183 | ||||||||||||||||||||||||||||||||||||||||||
Total impaired loans | $ | 263,848 | $ | 200,780 | $ | 13,284 | $ | 323,786 | $ | 248,597 | $ | 12,183 | ||||||||||||||||||||||||||||||||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
For the year ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||
Average Recorded Investment | Interest Income Recognized | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | $ | 27,123 | $ | 31,798 | $ | 48,349 | $ | 770 | $ | 580 | $ | 1,053 | ||||||||||||||||||||||||||||||||||||||||||
Real estate construction loans | 37,875 | 49,094 | 82,529 | 284 | 265 | 940 | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage loans | 138,121 | 178,822 | 212,555 | 4,256 | 8,221 | 3,101 | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage and equity lines | 18,033 | 18,062 | 17,920 | 289 | 239 | 236 | ||||||||||||||||||||||||||||||||||||||||||||||||
Subtotal | $ | 221,152 | $ | 277,776 | $ | 361,353 | $ | 5,599 | $ | 9,305 | $ | 5,330 | ||||||||||||||||||||||||||||||||||||||||||
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-accrual portfolio loans | $ | 83,183 | $ | 103,902 | $ | 201,197 | ||||||||||||||||||||||||||||||||||||||||||||||||
Non-accrual loans held-for-sale | - | - | 760 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total non-accrual loans | $ | 83,183 | $ | 103,902 | $ | 201,957 | ||||||||||||||||||||||||||||||||||||||||||||||||
Contractual interest due | $ | 5,851 | $ | 6,621 | $ | 13,049 | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest recognized | 22 | 1,006 | 71 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest foregone | $ | 5,829 | $ | 5,615 | $ | 12,978 | ||||||||||||||||||||||||||||||||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | Greater than 90 Days Past Due | Non-accrual Loans | Total Past Due | Loans Not Past Due | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Type of Loans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | $ | 7,170 | $ | 16,562 | $ | - | $ | 21,232 | $ | 44,964 | $ | 2,253,760 | $ | 2,298,724 | ||||||||||||||||||||||||||||||||||||||||
Real estate construction loans | - | - | - | 28,586 | 28,586 | 193,115 | 221,701 | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage loans | 20,043 | 7,862 | 982 | 19,621 | 48,508 | 3,974,543 | 4,023,051 | |||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | 3,508 | 832 | - | 13,744 | 18,084 | 1,508,448 | 1,526,532 | |||||||||||||||||||||||||||||||||||||||||||||||
Installment and other loans | 100 | - | - | - | 100 | 14,455 | 14,555 | |||||||||||||||||||||||||||||||||||||||||||||||
Total loans | $ | 30,821 | $ | 25,256 | $ | 982 | $ | 83,183 | $ | 140,242 | $ | 7,944,321 | $ | 8,084,563 | ||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | Greater than 90 Days Past Due | Non-accrual Loans | Total Past Due | Loans Not Past Due | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Type of Loans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | $ | 16,832 | $ | 1,610 | $ | 630 | $ | 19,958 | $ | 39,030 | $ | 2,088,077 | $ | 2,127,107 | ||||||||||||||||||||||||||||||||||||||||
Real estate construction loans | - | 1,471 | - | 36,299 | 37,770 | 143,180 | 180,950 | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage loans | 21,570 | 3,627 | - | 35,704 | 60,901 | 3,707,551 | 3,768,452 | |||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | 5,324 | 1,972 | - | 11,941 | 19,237 | 1,320,845 | 1,340,082 | |||||||||||||||||||||||||||||||||||||||||||||||
Installment and other loans | - | - | - | - | - | 12,556 | 12,556 | |||||||||||||||||||||||||||||||||||||||||||||||
Total loans | $ | 43,726 | $ | 8,680 | $ | 630 | $ | 103,902 | $ | 156,938 | $ | 7,272,209 | $ | 7,429,147 | ||||||||||||||||||||||||||||||||||||||||
Schedule Of Troubled Debt Restructurings [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
No. of Contracts | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | Specific Reserve | Charge-offs | ||||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | 9 | $ | 12,026 | $ | 10,860 | $ | 550 | $ | 1,166 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage loans | 5 | 13,090 | 13,090 | 329 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage and equity lines | 11 | 3,736 | 3,658 | 103 | 78 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total | 25 | $ | 28,852 | $ | 27,608 | $ | 982 | $ | 1,244 | |||||||||||||||||||||||||||||||||||||||||||||
No. of Contracts | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | Specific Reserve | Charge-offs | ||||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | 9 | $ | 3,646 | $ | 3,646 | $ | 1,213 | $ | - | |||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage loans | 20 | 62,118 | 58,393 | 27 | 3,725 | |||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage and equity lines | 14 | 4,305 | 4,223 | 162 | 82 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total | 43 | $ | 70,069 | $ | 66,262 | $ | 1,402 | $ | 3,807 | |||||||||||||||||||||||||||||||||||||||||||||
No. of Contracts | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | Specific Reserve | Charge-off | ||||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | 7 | $ | 15,025 | $ | 15,025 | $ | 104 | $ | - | |||||||||||||||||||||||||||||||||||||||||||||
Real estate construction loans | 3 | 33,669 | 21,522 | - | 12,147 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage loans | 6 | 17,343 | 14,294 | 1 | 3,049 | |||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage and equity lines | 3 | 1,574 | 1,574 | 114 | - | |||||||||||||||||||||||||||||||||||||||||||||||||
Total | 19 | $ | 67,611 | $ | 52,415 | $ | 219 | $ | 15,196 | |||||||||||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accruing TDRs | Principal Deferral | Rate Reduction | Rate Reduction and Forgiveness of Principal | Rate Reduction and Payment Deferral | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | $ | 9,112 | $ | 2,916 | $ | - | $ | 2,708 | $ | 14,736 | ||||||||||||||||||||||||||||||||||||||||||||
Real estate construction loans | - | - | - | 5,834 | 5,834 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage loans | 11,333 | 9,389 | - | 70,200 | 90,922 | |||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | 1,564 | 1,024 | - | 3,517 | 6,105 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total accruing TDRs | $ | 22,009 | $ | 13,329 | $ | - | $ | 82,259 | $ | 117,597 | ||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accruing TDRs | Principal Deferral | Rate Reduction | Rate Reduction and Forgiveness of Principal | Rate Reduction and Payment Deferral | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | $ | 531 | $ | 3,020 | $ | - | $ | 413 | $ | 3,964 | ||||||||||||||||||||||||||||||||||||||||||||
Real estate construction loans | - | - | - | 5,834 | 5,834 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage loans | 27,003 | 16,656 | 739 | 85,783 | 130,181 | |||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | 1,461 | 1,024 | - | 2,231 | 4,716 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total accruing TDRs | $ | 28,995 | $ | 20,700 | $ | 739 | $ | 94,261 | $ | 144,695 | ||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accruing TDRs | Principal Deferral | Rate Reduction | Rate Reduction and Forgiveness of Principal | Rate Reduction and Payment Deferral | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | $ | 12,933 | $ | 1,756 | $ | - | $ | 431 | $ | 15,120 | ||||||||||||||||||||||||||||||||||||||||||||
Real estate construction loans | 16,820 | 9,659 | - | 5,776 | 32,255 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage loans | 471 | 37,796 | 2,071 | 28,935 | 69,273 | |||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | 1,294 | 587 | - | 1,487 | 3,368 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total accruing TDRs | $ | 31,518 | $ | 49,798 | $ | 2,071 | $ | 36,629 | $ | 120,016 | ||||||||||||||||||||||||||||||||||||||||||||
Non Accrual Troubled Debt Restructurings [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-accrual TDRs | Interest Deferral | Principal Deferral | Rate Reduction | Rate Reduction and Forgiveness of Principal | Rate Reduction and Payment Deferral | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | $ | - | $ | 2,866 | $ | - | $ | 1,352 | $ | - | $ | 4,218 | ||||||||||||||||||||||||||||||||||||||||||
Real estate construction loans | - | 16,009 | - | - | 9,263 | 25,272 | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage loans | 1,443 | 2,168 | - | - | 1,843 | 5,454 | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | 241 | 2,206 | - | - | 1,378 | 3,825 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total non-accrual TDRs | $ | 1,684 | $ | 23,249 | $ | - | $ | 1,352 | $ | 12,484 | $ | 38,769 | ||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-accrual TDRs | Interest Deferral | Principal Deferral | Rate Reduction | Rate Reduction and Forgiveness of Principal | Rate Reduction and Payment Deferral | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | $ | - | $ | 912 | $ | - | $ | 1,518 | $ | - | $ | 2,430 | ||||||||||||||||||||||||||||||||||||||||||
Real estate construction loans | - | 16,767 | 9,579 | - | - | 26,346 | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage loans | 1,685 | 2,817 | 5,746 | - | 5,076 | 15,324 | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | 275 | 2,010 | 586 | - | 760 | 3,631 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total non-accrual TDRs | $ | 1,960 | $ | 22,506 | $ | 15,911 | $ | 1,518 | $ | 5,836 | $ | 47,731 | ||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-accrual TDRs | Interest Deferral | Principal Deferral | Rate Reduction | Rate Reduction and Forgiveness of Principal | Rate Reduction and Payment Deferral | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | $ | - | $ | 616 | $ | 1,859 | $ | 1,506 | $ | - | $ | 3,981 | ||||||||||||||||||||||||||||||||||||||||||
Real estate construction loans | - | 13,579 | 12,376 | - | - | 25,955 | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage loans | - | 9,727 | - | - | 5,076 | 17,436 | ||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | - | 2,427 | 449 | - | 311 | 3,498 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total non-accrual TDRs | $ | - | $ | 26,349 | $ | 14,684 | $ | 1,506 | $ | 5,387 | $ | 50,870 | ||||||||||||||||||||||||||||||||||||||||||
Activity Within The Troubled Debt Restructurings [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accruing TDRs | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 144,695 | $ | 120,016 | $ | 136,800 | ||||||||||||||||||||||||||||||||||||||||||||||||
New restructurings | 21,382 | 53,958 | 60,863 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Restructured loans restored to accrual status | 6,851 | 8,356 | 709 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Charge-offs | (78 | ) | (251 | ) | (2,341 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Payments | (52,362 | ) | (5,159 | ) | (46,313 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Restructured loans placed on non-accrual | (2,891 | ) | (32,225 | ) | (28,969 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Expiration of loan concession | - | - | (733 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 117,597 | $ | 144,695 | $ | 120,016 | ||||||||||||||||||||||||||||||||||||||||||||||||
Non-accrual TDRs | 2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 47,731 | $ | 50,870 | $ | 28,146 | ||||||||||||||||||||||||||||||||||||||||||||||||
New restructurings | 6,226 | 12,304 | 13,269 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Restructured loans placed on non-accrual | 2,891 | 32,225 | 28,969 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Charge-offs | (2,124 | ) | (4,182 | ) | (7,303 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Payments | (4,295 | ) | (33,931 | ) | (3,355 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Foreclosures | (4,809 | ) | (1,199 | ) | (8,147 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Restructured loans restored to accrual status | (6,851 | ) | (8,356 | ) | (709 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 38,769 | $ | 47,731 | $ | 50,870 | ||||||||||||||||||||||||||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | Special Mention | Substandard | Doubtful | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | $ | 2,108,191 | $ | 84,786 | $ | 102,088 | $ | 3,659 | $ | 2,298,724 | ||||||||||||||||||||||||||||||||||||||||||||
Real estate construction loans | 184,449 | - | 33,939 | 3,313 | 221,701 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage loans | 3,686,788 | 127,436 | 208,827 | - | 4,023,051 | |||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage and equity lines | 1,510,647 | - | 15,885 | - | 1,526,532 | |||||||||||||||||||||||||||||||||||||||||||||||||
Installment and other loans | 14,555 | - | - | - | 14,555 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total gross loans | $ | 7,504,630 | $ | 212,222 | $ | 360,739 | $ | 6,972 | $ | 8,084,563 | ||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | Special Mention | Substandard | Doubtful | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | $ | 1,944,989 | $ | 76,776 | $ | 94,077 | $ | 11,265 | $ | 2,127,107 | ||||||||||||||||||||||||||||||||||||||||||||
Real estate construction loans | 109,269 | 18,000 | 45,171 | 8,510 | 180,950 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial mortgage loans | 3,344,783 | 162,455 | 261,214 | - | 3,768,452 | |||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage and equity lines | 1,322,768 | 816 | 16,084 | 414 | 1,340,082 | |||||||||||||||||||||||||||||||||||||||||||||||||
Installment and other loans | 12,556 | - | - | - | 12,556 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total gross loans | $ | 6,734,365 | $ | 258,047 | $ | 416,546 | $ | 20,189 | $ | 7,429,147 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance For Credit Losses On Financing Receivables Based On Impairment Method [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Real Estate | Commercial | Residential | Consumer | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans | Construction | Mortgage | Mortgage | and Other | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | Loans | and Equity Lines | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance | $ | 2,519 | $ | 3,460 | $ | 6,584 | $ | 721 | $ | - | $ | 13,284 | ||||||||||||||||||||||||||||||||||||||||||
Balance | $ | 31,968 | $ | 34,420 | $ | 114,544 | $ | 19,848 | $ | - | $ | 200,780 | ||||||||||||||||||||||||||||||||||||||||||
Loans collectively evaluated for impairment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance | $ | 62,584 | $ | 8,539 | $ | 78,169 | $ | 11,284 | $ | 29 | $ | 160,605 | ||||||||||||||||||||||||||||||||||||||||||
Balance | $ | 2,266,756 | $ | 187,281 | $ | 3,908,507 | $ | 1,506,684 | $ | 14,555 | $ | 7,883,783 | ||||||||||||||||||||||||||||||||||||||||||
Total allowance | $ | 65,103 | $ | 11,999 | $ | 84,753 | $ | 12,005 | $ | 29 | $ | 173,889 | ||||||||||||||||||||||||||||||||||||||||||
Total balance | $ | 2,298,724 | $ | 221,701 | $ | 4,023,051 | $ | 1,526,532 | $ | 14,555 | $ | 8,084,563 | ||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance | $ | 1,467 | $ | 8,158 | $ | 1,336 | $ | 1,222 | $ | - | $ | 12,183 | ||||||||||||||||||||||||||||||||||||||||||
Balance | $ | 23,922 | $ | 42,133 | $ | 165,885 | $ | 16,657 | $ | - | $ | 248,597 | ||||||||||||||||||||||||||||||||||||||||||
Loans collectively evaluated for impairment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance | $ | 64,634 | $ | 14,859 | $ | 81,137 | $ | 10,481 | $ | 28 | $ | 171,139 | ||||||||||||||||||||||||||||||||||||||||||
Balance | $ | 2,103,185 | $ | 138,817 | $ | 3,602,567 | $ | 1,323,425 | $ | 12,556 | $ | 7,180,550 | ||||||||||||||||||||||||||||||||||||||||||
Total allowance | $ | 66,101 | $ | 23,017 | $ | 82,473 | $ | 11,703 | $ | 28 | $ | 183,322 | ||||||||||||||||||||||||||||||||||||||||||
Total balance | $ | 2,127,107 | $ | 180,950 | $ | 3,768,452 | $ | 1,340,082 | $ | 12,556 | $ | 7,429,147 | ||||||||||||||||||||||||||||||||||||||||||
31-Dec-11 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance | $ | 3,336 | $ | - | $ | 2,969 | $ | 1,247 | $ | - | $ | 7,552 | ||||||||||||||||||||||||||||||||||||||||||
Balance | $ | 45,781 | $ | 78,766 | $ | 177,058 | $ | 20,368 | $ | - | $ | 321,973 | ||||||||||||||||||||||||||||||||||||||||||
Loans collectively evaluated for impairment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance | $ | 62,322 | $ | 21,749 | $ | 105,052 | $ | 9,548 | $ | 57 | $ | 198,728 | ||||||||||||||||||||||||||||||||||||||||||
Balance | $ | 1,822,494 | $ | 158,606 | $ | 3,571,839 | $ | 1,166,601 | $ | 17,699 | $ | 6,737,239 | ||||||||||||||||||||||||||||||||||||||||||
Total allowance | $ | 65,658 | $ | 21,749 | $ | 108,021 | $ | 10,795 | $ | 57 | $ | 206,280 | ||||||||||||||||||||||||||||||||||||||||||
Total balance | $ | 1,868,275 | $ | 237,372 | $ | 3,748,897 | $ | 1,186,969 | $ | 17,699 | $ | 7,059,212 | ||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial | Real Estate | Commercial | Residential | Installment | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans | Construction | Mortgage | Mortgage | and Other | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | Loans | and Equity Lines | Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2011 Beginning Balance | $ | 63,918 | $ | 43,262 | $ | 128,348 | $ | 9,668 | $ | 35 | $ | 245,231 | ||||||||||||||||||||||||||||||||||||||||||
Provision for possible loan losses | 11,711 | 11,514 | 1,454 | 2,392 | 197 | 27,268 | ||||||||||||||||||||||||||||||||||||||||||||||||
Charge-offs | (11,745 | ) | (37,500 | ) | (26,750 | ) | (1,456 | ) | (175 | ) | (77,626 | ) | ||||||||||||||||||||||||||||||||||||||||||
Recoveries | 1,774 | 4,473 | 4,969 | 191 | - | 11,407 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Charge-offs | (9,971 | ) | (33,027 | ) | (21,781 | ) | (1,265 | ) | (175 | ) | (66,219 | ) | ||||||||||||||||||||||||||||||||||||||||||
2011 Ending Balance | $ | 65,658 | $ | 21,749 | $ | 108,021 | $ | 10,795 | $ | 57 | $ | 206,280 | ||||||||||||||||||||||||||||||||||||||||||
Reserve to impaired loans | $ | 3,336 | $ | - | $ | 2,969 | $ | 1,247 | $ | - | $ | 7,552 | ||||||||||||||||||||||||||||||||||||||||||
Reserve to non-impaired loans | $ | 62,322 | $ | 21,749 | $ | 105,052 | $ | 9,548 | $ | 57 | $ | 198,728 | ||||||||||||||||||||||||||||||||||||||||||
Reserve for off-balance sheet credit commitments | $ | 816 | $ | 1,103 | $ | 113 | $ | 34 | $ | 3 | $ | 2,069 | ||||||||||||||||||||||||||||||||||||||||||
2012 Beginning Balance | $ | 65,658 | $ | 21,749 | $ | 108,021 | $ | 10,795 | $ | 57 | $ | 206,280 | ||||||||||||||||||||||||||||||||||||||||||
Provision/(reversal) for possible loan losses | 16,201 | (3,720 | ) | (23,128 | ) | 2,360 | (7 | ) | (8,294 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Charge-offs | (17,707 | ) | (1,165 | ) | (11,762 | ) | (2,132 | ) | (25 | ) | (32,791 | ) | ||||||||||||||||||||||||||||||||||||||||||
Recoveries | 1,949 | 6,153 | 9,342 | 680 | 3 | 18,127 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Charge-offs | (15,758 | ) | 4,988 | (2,420 | ) | (1,452 | ) | (22 | ) | (14,664 | ) | |||||||||||||||||||||||||||||||||||||||||||
2012 Ending Balance | $ | 66,101 | $ | 23,017 | $ | 82,473 | $ | 11,703 | $ | 28 | $ | 183,322 | ||||||||||||||||||||||||||||||||||||||||||
Reserve to impaired loans | $ | 1,467 | $ | 8,158 | $ | 1,336 | $ | 1,222 | $ | - | $ | 12,183 | ||||||||||||||||||||||||||||||||||||||||||
Reserve to non-impaired loans | $ | 64,634 | $ | 14,859 | $ | 81,137 | $ | 10,481 | $ | 28 | $ | 171,139 | ||||||||||||||||||||||||||||||||||||||||||
Reserve for off-balance sheet credit commitments | $ | 837 | $ | 390 | $ | 98 | $ | 34 | $ | 3 | $ | 1,362 | ||||||||||||||||||||||||||||||||||||||||||
2013 Beginning Balance | $ | 66,101 | $ | 23,017 | $ | 82,473 | $ | 11,703 | $ | 28 | $ | 183,322 | ||||||||||||||||||||||||||||||||||||||||||
Provision/(reversal) for possible loan losses | 11,888 | (13,302 | ) | (2,500 | ) | 924 | (10 | ) | (3,000 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Charge-offs | (15,625 | ) | - | (3,945 | ) | (872 | ) | - | (20,442 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Recoveries | 2,739 | 2,284 | 8,725 | 250 | 11 | 14,009 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Charge-offs | (12,886 | ) | 2,284 | 4,780 | (622 | ) | 11 | (6,433 | ) | |||||||||||||||||||||||||||||||||||||||||||||
2013 Ending Balance | $ | 65,103 | $ | 11,999 | $ | 84,753 | $ | 12,005 | $ | 29 | $ | 173,889 | ||||||||||||||||||||||||||||||||||||||||||
Reserve to impaired loans | $ | 2,519 | $ | 3,460 | $ | 6,584 | $ | 721 | $ | - | $ | 13,284 | ||||||||||||||||||||||||||||||||||||||||||
Reserve to non-impaired loans | $ | 62,584 | $ | 8,539 | $ | 78,169 | $ | 11,284 | $ | 29 | $ | 160,605 | ||||||||||||||||||||||||||||||||||||||||||
Reserve for off-balance sheet credit commitments | $ | 909 | $ | 304 | $ | 111 | $ | 34 | $ | 1 | $ | 1,359 | ||||||||||||||||||||||||||||||||||||||||||
Schedule of Credit Losses for Financing Receivables, Current [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of year | $ | 183,322 | $ | 206,280 | $ | 245,231 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Reversal)/provision for credit losses | (3,000 | ) | (9,000 | ) | 27,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
Transfers from reserve for off-balance sheet credit commitments | - | 706 | 268 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Loans charged off | (20,442 | ) | (32,791 | ) | (77,626 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||
Recoveries of charged off loans | 14,009 | 18,127 | 11,407 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of year | $ | 173,889 | $ | 183,322 | $ | 206,280 | ||||||||||||||||||||||||||||||||||||||||||||||||
Reserve for Off-balance Sheet Credit Commitments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at beginning of year | $ | 1,363 | $ | 2,069 | $ | 2,337 | ||||||||||||||||||||||||||||||||||||||||||||||||
Provision for credit losses/transfers | - | (706 | ) | (268 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance at end of year | $ | 1,363 | $ | 1,363 | $ | 2,069 |
Note_6_Other_Real_Estate_Owned1
Note 6 - Other Real Estate Owned (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||
Other Real Estate, Roll Forward [Table Text Block] | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Balance, beginning of year | $ | 19,556 | $ | 26,422 | $ | 25,310 | |||||||
(Reversal)/provision for losses | (2,122 | ) | 10,668 | 10,385 | |||||||||
OREO disposal | (4,050 | ) | (17,534 | ) | (9,273 | ) | |||||||
Balance, end of year | $ | 13,384 | $ | 19,556 | $ | 26,422 | |||||||
Schedule of Other Real Estate Owned Expense [Table Text Block] | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Operating expense | $ | 3,680 | $ | 4,817 | $ | 5,441 | |||||||
(Reversal)/provision for losses | (2,122 | ) | 10,668 | 10,385 | |||||||||
Net gain on transfers and disposals | (1,793 | ) | (369 | ) | (5,243 | ) | |||||||
Total other real estate owned expense | $ | (235 | ) | $ | 15,116 | $ | 10,583 |
Note_8_Premises_and_Equipment_
Note 8 - Premises and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
As of December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Land and land improvements | $ | 33,441 | $ | 33,429 | |||||
Building and building improvements | 73,756 | 73,723 | |||||||
Furniture, fixtures and equipment | 44,278 | 39,701 | |||||||
Leasehold improvement | 12,753 | 12,391 | |||||||
Construction in process | 1,160 | 38 | |||||||
165,388 | 159,282 | ||||||||
Less: Accumulated depreciation/amortization | 63,343 | 56,669 | |||||||
Premises and equipment, net | $ | 102,045 | $ | 102,613 |
Note_9_Deposits_Tables
Note 9 - Deposits (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||||||
Summary Of Deposits [Table Text Block] | ' | ||||||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Demand | $ | 1,441,858 | $ | 1,269,455 | |||||||||||||||||||||||||
NOW accounts | 683,873 | 593,133 | |||||||||||||||||||||||||||
Money market accounts | 1,286,338 | 1,186,771 | |||||||||||||||||||||||||||
Saving accounts | 499,520 | 473,805 | |||||||||||||||||||||||||||
Time deposits under $100,000 | 931,204 | 644,191 | |||||||||||||||||||||||||||
Time deposits of $100,000 or more | 3,138,512 | 3,215,870 | |||||||||||||||||||||||||||
Total | $ | 7,981,305 | $ | 7,383,225 | |||||||||||||||||||||||||
Schedule Of Maturities For Time Deposits [Table Text Block] | ' | ||||||||||||||||||||||||||||
Expected Maturity Date at December 31, | |||||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Time deposits, $100,000 and over | $ | 2,851,050 | $ | 140,973 | $ | 70,053 | $ | 20,867 | $ | 55,569 | $ | - | $ | 3,138,512 | |||||||||||||||
Other time deposits | 574,695 | 118,913 | 84,653 | 36,734 | 116,198 | 11 | 931,204 | ||||||||||||||||||||||
$ | 3,425,745 | $ | 259,886 | $ | 154,706 | $ | 57,601 | $ | 171,767 | $ | 11 | $ | 4,069,716 | ||||||||||||||||
SummaryOfInterestExpenseOnDepositsTableTextBlock | ' | ||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Interest bearing demand | $ | 1,017 | $ | 792 | $ | 756 | |||||||||||||||||||||||
Money market accounts | 7,034 | 5,938 | 7,351 | ||||||||||||||||||||||||||
Saving accounts | 374 | 365 | 482 | ||||||||||||||||||||||||||
Time deposits | 31,964 | 40,278 | 53,625 | ||||||||||||||||||||||||||
Total | $ | 40,389 | $ | 47,373 | $ | 62,214 |
Note_10_Borrowed_Funds_Tables
Note 10 - Borrowed Funds (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Schedule Of Long Term Securities Sold Under Agreements To Repurchase [Table Text Block] | ' | ||||||||||||||||||||||||
(Dollars in millions) | Fixed-to-floating | Floating-to-fixed | Total | ||||||||||||||||||||||
Rate type | Float Rate | Fixed Rate | |||||||||||||||||||||||
Rate index | 8% minus 3 month LIBOR | ||||||||||||||||||||||||
Maximum rate | 3.75 | % | 3.5 | % | 3.5 | % | |||||||||||||||||||
Minimum rate | 0 | % | 0 | % | 0 | % | |||||||||||||||||||
No. of agreements | 1 | 2 | 3 | 1 | 4 | 11 | |||||||||||||||||||
Amount | $ | 50 | $ | 100 | $ | 150 | $ | 100 | $ | 200 | $ | 600 | |||||||||||||
Weighted average rate | 3.75 | % | 3.5 | % | 3.5 | % | 4.78 | % | 5 | % | 4.24 | % | |||||||||||||
Final maturity | 2014 | 2014 | 2015 | 2014 | 2017 | ||||||||||||||||||||
Schedule of Repurchase Agreements [Table Text Block] | ' | ||||||||||||||||||||||||
Maturity | No. of | Amount | Weighted Average | ||||||||||||||||||||||
Agreements | (In thousands) | Interest Rate | |||||||||||||||||||||||
1 year to 3 years | 1 | $ | 50,000 | 2.69 | % | ||||||||||||||||||||
3 years to 5 years | 3 | $ | 150,000 | 2.81 | % | ||||||||||||||||||||
Total | 4 | $ | 200,000 | 2.78 | % | ||||||||||||||||||||
Summary Of Comparative Data Of Securities Sold Under Agreements To Repurchase [Table Text Block] | ' | ||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Average amount outstanding during the year (1) | $ | 972,329 | $ | 1,361,475 | $ | 1,448,363 | |||||||||||||||||||
Maximum amount outstanding at month-end (2) | 1,200,000 | 1,400,000 | 1,559,000 | ||||||||||||||||||||||
Balance, December 31 | 800,000 | 1,250,000 | 1,400,000 | ||||||||||||||||||||||
Rate, December 31 | 3.87 | % | 3.84 | % | 4.14 | % | |||||||||||||||||||
Weighted average interest rate for the year | 3.88 | % | 4.09 | % | 4.19 | % | |||||||||||||||||||
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | ' | ||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Maturity | Amount | Weighted Average | Amount | Weighted Average | |||||||||||||||||||||
(In thousands) | Interest Rate | (In thousands) | Interest Rate | ||||||||||||||||||||||
Within 90 days | $ | 475,000 | 0.06 | % | $ | 125,000 | 0.28 | % | |||||||||||||||||
4 - 5 years | 46,200 | 1.24 | % | 21,200 | 1.38 | % | |||||||||||||||||||
$ | 521,200 | 0.17 | % | $ | 146,200 | 0.44 | % |
Note_11_Capital_Resources_Tabl
Note 11 - Capital Resources (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Subordinated Borrowing [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Trust Name | Issuance | Principal | Not | Stated | Annualized | Current | Date of | Payable/ | |||||||||||||||||||||||||
Date | Balance of | Redeemable | Maturity | Coupon Rate | Interest | Rate | Distribution | ||||||||||||||||||||||||||
Notes | Until | Rate | Change | Date | |||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Cathay Capital Trust I | June 26, | $ | 20,619 | June 30, | June 30, | 3-month | 3.4 | % | December 30, | 30-Mar | |||||||||||||||||||||||
2003 | 2008 | 2033 | LIBOR | 2013 | 30-Jun | ||||||||||||||||||||||||||||
3.15% | 30-Sep | ||||||||||||||||||||||||||||||||
30-Dec | |||||||||||||||||||||||||||||||||
Cathay Statutory Trust I | September 17, | 20,619 | September 17, | September 17, | 3-month | 3.24 | % | December 17, | 17-Mar | ||||||||||||||||||||||||
2003 | 2008 | 2033 | LIBOR | 2013 | 17-Jun | ||||||||||||||||||||||||||||
3.00% | 17-Sep | ||||||||||||||||||||||||||||||||
17-Dec | |||||||||||||||||||||||||||||||||
Cathay Capital Trust II | December 30, | 12,887 | March 30, | March 30, | 3-month | 3.15 | % | December 30, | 30-Mar | ||||||||||||||||||||||||
2003 | 2009 | 2034 | LIBOR | 2013 | 30-Jun | ||||||||||||||||||||||||||||
2.90% | 30-Sep | ||||||||||||||||||||||||||||||||
30-Dec | |||||||||||||||||||||||||||||||||
Cathay Capital Trust III | March 28, | 46,392 | June 15, | June 15, | 3-month | 1.72 | % | December 16, | 15-Mar | ||||||||||||||||||||||||
2007 | 2012 | 2037 | LIBOR | 2013 | 15-Jun | ||||||||||||||||||||||||||||
1.48% | 15-Sep | ||||||||||||||||||||||||||||||||
15-Dec | |||||||||||||||||||||||||||||||||
Cathay Capital Trust IV | May 31, | 20,619 | September 6, | September 6, | 3-month | 1.64 | % | December 6, | 6-Mar | ||||||||||||||||||||||||
2007 | 2012 | 2037 | LIBOR | 2013 | 6-Jun | ||||||||||||||||||||||||||||
1.40% | 6-Sep | ||||||||||||||||||||||||||||||||
6-Dec | |||||||||||||||||||||||||||||||||
Total Junior Subordinated Notes | $ | 121,136 |
Note_12_Income_Taxes_Tables
Note 12 - Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Current: | |||||||||||||||||||||||||
Federal | $ | 62,254 | $ | 44,263 | $ | 26,548 | |||||||||||||||||||
State | 23,295 | 17,081 | 10,905 | ||||||||||||||||||||||
$ | 85,549 | $ | 61,344 | $ | 37,453 | ||||||||||||||||||||
Deferred: | |||||||||||||||||||||||||
Federal | (11,162 | ) | 3,755 | 10,133 | |||||||||||||||||||||
State | (3,952 | ) | 1,029 | 3,675 | |||||||||||||||||||||
$ | (15,114 | ) | $ | 4,784 | $ | 13,808 | |||||||||||||||||||
Total income tax expense/(benefit) | $ | 70,435 | $ | 66,128 | $ | 51,261 | |||||||||||||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||||||||||||||
As of December 31, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Deferred Tax Assets | |||||||||||||||||||||||||
Loan loss allowance, due to differences in computation of bad debts | $ | 89,560 | $ | 100,774 | |||||||||||||||||||||
Write-down on equity securities and venture capital investments | 2,857 | 3,374 | |||||||||||||||||||||||
Share-based compensation | 13,573 | 16,120 | |||||||||||||||||||||||
State tax | 6,493 | 4,479 | |||||||||||||||||||||||
Non-accrual interest | 3,968 | 3,208 | |||||||||||||||||||||||
Write-down on other real estate owned | 8,595 | 10,302 | |||||||||||||||||||||||
Accrual for bonuses | 3,380 | 432 | |||||||||||||||||||||||
Accrual for litigation | 2,415 | 2,415 | |||||||||||||||||||||||
Unrealized loss on interest rate swaps | - | 175 | |||||||||||||||||||||||
Unrealized loss on securities available-for-sale, net | 21,569 | - | |||||||||||||||||||||||
Other, net | 4,214 | 2,937 | |||||||||||||||||||||||
Gross deferred tax assets | 156,624 | 144,216 | |||||||||||||||||||||||
Deferred Tax Liabilities | |||||||||||||||||||||||||
Core deposit intangibles | - | (1,632 | ) | ||||||||||||||||||||||
Investment in aircraft financing trust and venture capital partnerships | - | (19,684 | ) | ||||||||||||||||||||||
Unrealized gain on securities available-for-sale, net | - | (338 | ) | ||||||||||||||||||||||
Basis difference in acquired assets | (3,138 | ) | (3,145 | ) | |||||||||||||||||||||
Dividends on Federal Home Loan Bank common stock | (2,986 | ) | (3,071 | ) | |||||||||||||||||||||
Other, net | (2,773 | ) | (1,939 | ) | |||||||||||||||||||||
Gross deferred tax liabilities | (8,897 | ) | (29,809 | ) | |||||||||||||||||||||
Valuation allowance | (1,263 | ) | (2,125 | ) | |||||||||||||||||||||
Net deferred tax assets | $ | 146,464 | $ | 112,282 | |||||||||||||||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Tax provision at Federal statutory rate | $ | 67,752 | 35 | % | $ | 64,248 | 35 | % | $ | 52,994 | 35 | % | |||||||||||||
State income taxes, net of Federal income tax benefit | 12,573 | 6.5 | 11,772 | 6.4 | 9,477 | 6.3 | |||||||||||||||||||
Interest on obligations of state and political subdivisions, which are exempt from Federal taxation | (348 | ) | (0.2 | ) | (1,456 | ) | (0.8 | ) | (1,476 | ) | (1.0 | ) | |||||||||||||
Low income housing and other tax credits | (10,056 | ) | (5.2 | ) | (9,353 | ) | (5.1 | ) | (10,087 | ) | (6.6 | ) | |||||||||||||
Other, net | 514 | 0.3 | 917 | 0.5 | 353 | 0.2 | |||||||||||||||||||
Total income tax expense/(benefit) | $ | 70,435 | 36.4 | % | $ | 66,128 | 36 | % | $ | 51,261 | 33.9 | % |
Note_13_Stockholders_Equity_an1
Note 13 - Stockholders' Equity and Earnings per Share (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||
2013 | |||||||||||||||||||||||||||||||||||||
Pre-tax | Tax expense | Net-of-tax | |||||||||||||||||||||||||||||||||||
Beginning balance, net of tax | $ | 465 | |||||||||||||||||||||||||||||||||||
Net unrealized losses arising during the period | $ | (117,515 | ) | $ | (49,407 | ) | $ | (68,108 | ) | ||||||||||||||||||||||||||||
Reclassification adjustment for net securities gains included in net income | 27,362 | 11,503 | 15,859 | ||||||||||||||||||||||||||||||||||
Net unrealized gains arising from transferring securities held-to-maturity to available-for-sale | 38,052 | 15,997 | 22,055 | ||||||||||||||||||||||||||||||||||
Total other comprehensive income | $ | (52,101 | ) | $ | (21,907 | ) | $ | (30,194 | ) | ||||||||||||||||||||||||||||
Ending balance, net of tax | $ | (29,729 | ) | ||||||||||||||||||||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||||||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||||||
Income | Shares | Per | Income | Shares | Per | Income | Shares | Per | |||||||||||||||||||||||||||||
(Numerator) | (Denominator) | Share | (Numerator) | (Denominator) | Share | (Numerator) | (Denominator) | Share | |||||||||||||||||||||||||||||
Amount | Amount | Amount | |||||||||||||||||||||||||||||||||||
(In thousands, except shares and per share data) | |||||||||||||||||||||||||||||||||||||
Net income | $ | 123,143 | $ | 117,438 | $ | 100,150 | |||||||||||||||||||||||||||||||
Dividends on preferred stock | (9,685 | ) | (16,488 | ) | (16,437 | ) | |||||||||||||||||||||||||||||||
Basic EPS, income/(loss) | $ | 113,458 | 78,954,898 | $ | 1.44 | $ | 100,950 | 78,719,133 | $ | 1.28 | $ | 83,713 | 78,633,317 | $ | 1.06 | ||||||||||||||||||||||
Effect of dilutive stock options | 183,085 | 4,164 | 7,335 | ||||||||||||||||||||||||||||||||||
Diluted EPS, income/(loss) | $ | 113,458 | 79,137,983 | $ | 1.43 | $ | 100,950 | 78,723,297 | $ | 1.28 | $ | 83,713 | 78,640,652 | $ | 1.06 |
Note_14_Commitments_and_Contin1
Note 14 - Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | ' | ||||||||
As of December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Commitments to extend credit | $ | 1,858,669 | $ | 1,740,463 | |||||
Standby letters of credit | 45,058 | 44,672 | |||||||
Commercial letters of credit | 54,098 | 71,073 | |||||||
Bill of lading guarantees | 80 | 77 | |||||||
Total | $ | 1,957,905 | $ | 1,856,285 | |||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | ||||||||
Year Ending December 31, | Commitments | ||||||||
(In thousands) | |||||||||
2014 | $ | 5,745 | |||||||
2015 | 3,895 | ||||||||
2016 | 2,930 | ||||||||
2017 | 1,527 | ||||||||
2018 | 1,015 | ||||||||
Thereafter | 643 | ||||||||
Total minimum lease payments | $ | 15,755 | |||||||
Schedule Of Future Rental Payments To Be Received For Operating Leases [Table Text Block] | ' | ||||||||
Year Ending December 31, | Commitments | ||||||||
(In thousands) | |||||||||
2014 | $ | 121 | |||||||
2015 | 11 | ||||||||
Thereafter | - | ||||||||
Total minimum lease payments to be received | $ | 132 |
Note_16_Fair_Value_Measurement1
Note 16 - Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||||||||||
As of December 31, 2013 | Fair Value Measurements Using | Total at | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Securities available-for-sale | |||||||||||||||||||||||||
U.S. Treasury securities | $ | 460,193 | $ | - | $ | - | $ | 460,193 | |||||||||||||||||
Mortgage-backed securities | - | 952,815 | - | 952,815 | |||||||||||||||||||||
Collateralized mortgage obligations | - | 6,106 | - | 6,106 | |||||||||||||||||||||
Asset-backed securities | - | 123 | - | 123 | |||||||||||||||||||||
Corporate debt securities | - | 150,304 | - | 150,304 | |||||||||||||||||||||
Mutual funds | 5,724 | - | - | 5,724 | |||||||||||||||||||||
Preferred stock of government sponsored entities | - | 11,403 | - | 11,403 | |||||||||||||||||||||
Total securities available-for-sale | 465,917 | 1,120,751 | - | 1,586,668 | |||||||||||||||||||||
Trading securities | - | 4,936 | - | 4,936 | |||||||||||||||||||||
Warrants | - | - | 30 | 30 | |||||||||||||||||||||
Option contracts | - | 0 | - | 0 | |||||||||||||||||||||
Foreign exchange contracts | - | 6,182 | - | 6,182 | |||||||||||||||||||||
Total assets | $ | 465,917 | $ | 1,131,869 | $ | 30 | $ | 1,597,816 | |||||||||||||||||
Liabilities | |||||||||||||||||||||||||
Foreign exchange contracts | - | 6,140 | - | 6,140 | |||||||||||||||||||||
Total liabilities | $ | - | $ | 6,140 | $ | - | $ | 6,140 | |||||||||||||||||
As of December 31, 2012 | Fair Value Measurements Using | Total at | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Securities available-for-sale | |||||||||||||||||||||||||
U.S. Treasury securities | $ | 509,971 | $ | - | $ | - | $ | 509,971 | |||||||||||||||||
Mortgage-backed securities | - | 416,694 | - | 416,694 | |||||||||||||||||||||
Collateralized mortgage obligations | - | 10,168 | - | 10,168 | |||||||||||||||||||||
Asset-backed securities | - | 141 | - | 141 | |||||||||||||||||||||
Corporate debt securities | - | 335,977 | - | 335,977 | |||||||||||||||||||||
Mutual funds | 6,079 | - | - | 6,079 | |||||||||||||||||||||
Preferred stock of government sponsored entities | - | 2,335 | - | 2,335 | |||||||||||||||||||||
Trust preferred securities | 10,115 | - | - | 10,115 | |||||||||||||||||||||
Total securities available-for-sale | 526,165 | 765,315 | - | 1,291,480 | |||||||||||||||||||||
Trading securities | - | 4,703 | - | 4,703 | |||||||||||||||||||||
Warrants | - | - | 104 | 104 | |||||||||||||||||||||
Option contracts | - | 0 | - | 0 | |||||||||||||||||||||
Foreign exchange contracts | - | 2,924 | - | 2,924 | |||||||||||||||||||||
Total assets | $ | 526,165 | $ | 772,942 | $ | 104 | $ | 1,299,211 | |||||||||||||||||
Liabilities | |||||||||||||||||||||||||
Option contracts | $ | - | $ | 2 | $ | - | $ | 2 | |||||||||||||||||
Foreign exchange contracts | - | 1,586 | - | 1,586 | |||||||||||||||||||||
Total liabilities | $ | - | $ | 1,588 | $ | - | $ | 1,588 | |||||||||||||||||
Fair Value Measurements, Nonrecurring [Table Text Block] | ' | ||||||||||||||||||||||||
As of December 31, 2013 | Total Losses/(gains) | ||||||||||||||||||||||||
Fair Value Measurements Using | Total at | For the Twelve Months Ended | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair | December 31, | December 31, | ||||||||||||||||||||
Value | 2013 | 2012 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Impaired loans by type: | |||||||||||||||||||||||||
Commercial loans | $ | - | $ | - | $ | 7,584 | $ | 7,584 | $ | 5,731 | $ | - | |||||||||||||
Commercial mortgage loans | - | - | 29,001 | 29,001 | 125 | 440 | |||||||||||||||||||
Construction- residential | - | - | 500 | 500 | - | - | |||||||||||||||||||
Construction- other | - | - | 15,363 | 15,363 | - | 65 | |||||||||||||||||||
Residential mortgage and equity lines | - | - | 14,236 | 14,236 | 213 | 605 | |||||||||||||||||||
Land loans | - | - | 29 | 29 | - | 162 | |||||||||||||||||||
Total impaired loans | - | - | 66,713 | 66,713 | 6,069 | 1,272 | |||||||||||||||||||
Other real estate owned (1) | - | 13,248 | 26,498 | 39,746 | (3,134 | ) | 10,904 | ||||||||||||||||||
Investments in venture capital and private company stock | - | - | 8,900 | 8,900 | 409 | 309 | |||||||||||||||||||
Equity investments | 642 | - | - | 642 | - | 181 | |||||||||||||||||||
Total assets | $ | 642 | $ | 13,248 | $ | 102,111 | $ | 116,001 | $ | 3,344 | $ | 12,666 | |||||||||||||
As of December 31, 2012 | Total Losses | ||||||||||||||||||||||||
Fair Value Measurements Using | Total at | For the Twelve Months Ended | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair | December 31, | December 31, | ||||||||||||||||||||
Value | 2012 | 2011 | |||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Impaired loans by type: | |||||||||||||||||||||||||
Commercial loans | $ | - | $ | - | $ | 3,492 | $ | 3,492 | $ | - | $ | 877 | |||||||||||||
Commercial mortgage loans | - | - | 11,295 | 11,295 | 440 | - | |||||||||||||||||||
Construction- residential | - | - | 500 | 500 | - | - | |||||||||||||||||||
Construction- other | - | - | 46,153 | 46,153 | 65 | - | |||||||||||||||||||
Residential mortgage and equity lines | - | - | 11,206 | 11,206 | 605 | 820 | |||||||||||||||||||
Land loans | - | - | 297 | 297 | 162 | 46 | |||||||||||||||||||
Total impaired loans | - | - | 72,943 | 72,943 | 1,272 | 1,743 | |||||||||||||||||||
Other real estate owned (1) | - | 27,149 | 4,841 | 31,990 | 10,904 | 7,003 | |||||||||||||||||||
Investments in venture capital and private company stock | - | - | 9,001 | 9,001 | 309 | 379 | |||||||||||||||||||
Equity investments | 142 | - | - | 142 | 181 | 200 | |||||||||||||||||||
Total assets | $ | 142 | $ | 27,149 | $ | 86,785 | $ | 114,076 | $ | 12,666 | $ | 9,325 |
Note_17_Fair_Value_of_Financia1
Note 17 - Fair Value of Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | ||||||||||||||||
Carrying | Fair Value | Carrying | Fair Value | ||||||||||||||
Amount | Amount | ||||||||||||||||
(In thousands) | |||||||||||||||||
Financial Assets | |||||||||||||||||
Cash and due from banks | $ | 153,747 | $ | 153,747 | $ | 144,909 | $ | 144,909 | |||||||||
Short-term investments | 516,938 | 516,938 | 411,983 | 411,983 | |||||||||||||
Securities held-to-maturity | - | - | 773,768 | 823,906 | |||||||||||||
Securities available-for-sale | 1,586,668 | 1,586,668 | 1,291,480 | 1,291,480 | |||||||||||||
Trading securities | 4,936 | 4,936 | 4,703 | 4,703 | |||||||||||||
Loans, net | 7,897,187 | 7,760,490 | 7,235,587 | 7,169,732 | |||||||||||||
Investment in Federal Home Loan Bank stock | 25,000 | 25,000 | 41,272 | 41,272 | |||||||||||||
Warrants | 30 | 30 | 104 | 104 | |||||||||||||
Notional | Fair Value | Notional | Fair Value | ||||||||||||||
Amount | Amount | ||||||||||||||||
Option contracts | $ | 200 | $ | 0 | $ | 105 | $ | - | |||||||||
Foreign exchange contracts | 267,644 | 6,182 | 188,145 | 2,924 | |||||||||||||
Carrying | Fair Value | Carrying | Fair Value | ||||||||||||||
Amount | Amount | ||||||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | $ | 7,981,305 | $ | 7,977,639 | $ | 7,383,225 | $ | 7,389,015 | |||||||||
Securities sold under agreement to repurchase | 800,000 | 852,835 | 1,250,000 | 1,361,585 | |||||||||||||
Advances from Federal Home Loan Bank | 521,200 | 521,560 | 146,200 | 146,789 | |||||||||||||
Other borrowings | 19,062 | 16,107 | 18,713 | 14,573 | |||||||||||||
Long-term debt | 121,136 | 58,970 | 171,136 | 98,392 | |||||||||||||
Notional | Fair Value | Notional | Fair Value | ||||||||||||||
Amount | Amount | ||||||||||||||||
Option contracts | $ | - | $ | - | $ | 104 | $ | 2 | |||||||||
Foreign exchange contracts | 236,350 | 6,140 | 133,669 | 1,586 | |||||||||||||
Notional | Fair Value | Notional | Fair Value | ||||||||||||||
Amount | Amount | ||||||||||||||||
Off-Balance Sheet Financial Instruments | |||||||||||||||||
Commitments to extend credit | $ | 1,858,669 | $ | (2,187 | ) | $ | 1,740,463 | $ | (1,875 | ) | |||||||
Standby letters of credit | 45,058 | (205 | ) | 44,672 | (204 | ) | |||||||||||
Other letters of credit | 54,098 | (34 | ) | 71,073 | (34 | ) | |||||||||||
Bill of lading guarantees | 80 | - | 77 | - | |||||||||||||
Schedule of Fair Value of Financial Instruments [Table Text Block] | ' | ||||||||||||||||
As of December 31, 2013 | |||||||||||||||||
Estimated | Level 1 | Level 2 | Level 3 | ||||||||||||||
Fair Value | |||||||||||||||||
Measurements | |||||||||||||||||
(In thousands) | |||||||||||||||||
Financial Assets | |||||||||||||||||
Cash and due from banks | $ | 153,747 | $ | 153,747 | $ | - | $ | - | |||||||||
Short-term investments | 516,938 | 516,938 | - | - | |||||||||||||
Securities available-for-sale | 1,586,668 | 465,917 | 1,120,751 | - | |||||||||||||
Trading securities | 4,936 | - | 4,936 | - | |||||||||||||
Loans, net | 7,760,490 | - | - | 7,760,490 | |||||||||||||
Investment in Federal Home Loan Bank stock | 25,000 | - | 25,000 | - | |||||||||||||
Warrants | 30 | - | - | 30 | |||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | 7,977,639 | - | - | 7,977,639 | |||||||||||||
Securities sold under agreement to repurchase | 852,835 | - | 852,835 | - | |||||||||||||
Advances from Federal Home Loan Bank | 521,560 | - | 521,560 | - | |||||||||||||
Other borrowings | 16,107 | - | - | 16,107 | |||||||||||||
Long-term debt | 58,970 | - | 58,970 | - | |||||||||||||
As of December 31, 2012 | |||||||||||||||||
Estimated | Level 1 | Level 2 | Level 3 | ||||||||||||||
Fair Value | |||||||||||||||||
Measurements | |||||||||||||||||
(In thousands) | |||||||||||||||||
Financial Assets | |||||||||||||||||
Cash and due from banks | $ | 144,909 | $ | 144,909 | $ | - | $ | - | |||||||||
Short-term investments | 411,983 | 411,983 | - | - | |||||||||||||
Securities held-to-maturity | 823,906 | - | 823,906 | - | |||||||||||||
Securities available-for-sale | 1,291,480 | 526,165 | 765,315 | - | |||||||||||||
Trading securities | 4,703 | - | 4,703 | - | |||||||||||||
Loans, net | 7,169,732 | - | - | 7,169,732 | |||||||||||||
Investment in Federal Home Loan Bank stock | 41,272 | - | 41,272 | - | |||||||||||||
Warrants | 104 | - | - | 104 | |||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | 7,389,015 | - | - | 7,389,015 | |||||||||||||
Securities sold under agreement to repurchase | 1,361,585 | - | 1,361,585 | - | |||||||||||||
Advances from Federal Home Loan Bank | 146,789 | - | 146,789 | - | |||||||||||||
Other borrowings | 14,573 | - | - | 14,573 | |||||||||||||
Long-term debt | 98,392 | - | 98,392 | - |
Note_19_Equity_Incentive_Plans1
Note 19 - Equity Incentive Plans (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||
Shares | Weighted-Average | Weighted-Average | Aggregate | ||||||||||||||
Exercise Price | Remaining Contractual | Intrinsic | |||||||||||||||
Life (in years) | Value (in thousands) | ||||||||||||||||
Balance, December 31, 2010 | 4,947,348 | 27.93 | 3.7 | $ | 334 | ||||||||||||
Exercised | (86,860 | ) | $ | 15.05 | |||||||||||||
Forfeited | (503,503 | ) | 22.72 | ||||||||||||||
Balance, December 31, 2011 | 4,356,985 | 28.86 | 3 | $ | 37 | ||||||||||||
Exercised | (50,024 | ) | $ | 15.27 | |||||||||||||
Forfeited | (310,331 | ) | 23.75 | ||||||||||||||
Balance, December 31, 2012 | 3,996,630 | 29.45 | 2.2 | $ | - | ||||||||||||
Exercised | (594,946 | ) | $ | 24.8 | |||||||||||||
Forfeited | (588,810 | ) | 22.86 | ||||||||||||||
Balance, December 31, 2013 | 2,812,874 | 31.81 | 1.9 | $ | 2,119 | ||||||||||||
Exercisable, December 31, 2013 | 2,812,874 | $ | 31.81 | 1.9 | $ | 2,119 | |||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | ' | ||||||||||||||||
Outstanding | |||||||||||||||||
Exercise Price | Shares | Weighted-Average | Shares | ||||||||||||||
Remaining Contractual | |||||||||||||||||
Life (in Years) | |||||||||||||||||
$ | 28.7 | 438,000 | 0.1 | 438,000 | |||||||||||||
32.26 | 10,000 | 0.5 | 10,000 | ||||||||||||||
38.38 | 15,000 | 0.9 | 15,000 | ||||||||||||||
37 | 568,270 | 1.1 | 568,270 | ||||||||||||||
32.47 | 245,060 | 1.2 | 245,060 | ||||||||||||||
33.54 | 264,694 | 1.4 | 264,694 | ||||||||||||||
36.9 | 218,540 | 2.1 | 218,540 | ||||||||||||||
36.24 | 410,730 | 2.1 | 410,730 | ||||||||||||||
38.26 | 12,000 | 2.3 | 12,000 | ||||||||||||||
23.37 | 630,580 | 4.2 | 630,580 | ||||||||||||||
2,812,874 | 1.9 | 2,812,874 | |||||||||||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | ' | ||||||||||||||||
Units | |||||||||||||||||
Balance at December 31, 2010 | 38,960 | ||||||||||||||||
Granted | 147,661 | ||||||||||||||||
Vested | (12,633 | ) | |||||||||||||||
Cancelled or forfeited | (2,578 | ) | |||||||||||||||
Balance at December 31, 2011 | 171,410 | ||||||||||||||||
Granted | 125,133 | ||||||||||||||||
Vested | (11,814 | ) | |||||||||||||||
Cancelled or forfeited | (28,113 | ) | |||||||||||||||
Balance at December 31, 2012 | 256,616 | ||||||||||||||||
Granted | 25,037 | ||||||||||||||||
Vested | (138,220 | ) | |||||||||||||||
Cancelled or forfeited | - | ||||||||||||||||
Balance at December 31, 2013 | 143,433 | ||||||||||||||||
Schedule of Tax Benefit (Short-Fall) From Share-Based Payment Arrangements [Table Text Block] | ' | ||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
(In thousands) | |||||||||||||||||
(Short-fall)/benefit of tax deductions in excess of grant-date fair value | $ | (2,509 | ) | $ | (620 | ) | $ | (290 | ) | ||||||||
Benefit of tax deductions on grant-date fair value | 4,172 | 747 | 362 | ||||||||||||||
Total benefit of tax deductions | $ | 1,663 | $ | 127 | $ | 72 |
Note_20_Condensed_Financial_In1
Note 20 - Condensed Financial Information of Cathay General Bancorp (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Condensed Balance Sheet [Table Text Block] | ' | ||||||||||||
As of December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
(In thousands, except | |||||||||||||
share and per share data) | |||||||||||||
Assets | |||||||||||||
Cash | $ | 1,835 | $ | 639 | |||||||||
Short-term certificates of deposit | 38,000 | 161,300 | |||||||||||
Investment in bank subsidiaries | 1,525,459 | 1,569,902 | |||||||||||
Investment in non-bank subsidiaries | 2,536 | 2,598 | |||||||||||
Other assets | 12,866 | 9,936 | |||||||||||
Total assets | $ | 1,580,696 | $ | 1,744,375 | |||||||||
Liabilities | |||||||||||||
Junior subordinated debt | $ | 121,136 | $ | 121,136 | |||||||||
Other liabilities | 589 | 2,182 | |||||||||||
Total liabilities | 121,725 | 123,318 | |||||||||||
Commitments and contingencies | - | - | |||||||||||
Stockholders' equity | |||||||||||||
Preferred stock, 10,000,000 shares authorized, none issued and outstanding at December 31, 2013, 258,000 issued and outstanding at December 31, 2012 | - | 254,580 | |||||||||||
Common stock, $0.01 par value, 100,000,000 shares authorized, 83,797,434 issued and 79,589,869 outstanding at December 31, 2013, and 82,985,853 issued and 78,778,288 outstanding at December 31, 2012 | 838 | 830 | |||||||||||
Additional paid-in-capital | 784,489 | 768,925 | |||||||||||
Accumulated other comprehensive loss, net | (29,729 | ) | 465 | ||||||||||
Retained earnings | 829,109 | 721,993 | |||||||||||
Treasury stock, at cost (4,207,565 shares at December 31, 2013, and at December 31, 2012) | (125,736 | ) | (125,736 | ) | |||||||||
Total stockholders' equity | 1,458,971 | 1,621,057 | |||||||||||
Total liabilities and stockholders' equity | $ | 1,580,696 | $ | 1,744,375 | |||||||||
Condensed Income Statement [Table Text Block] | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Cash dividends from Cathay Bank | $ | 138,030 | $ | 154,700 | $ | - | |||||||
Interest income | 157 | 196 | 259 | ||||||||||
Interest expense | 2,994 | 3,228 | 3,038 | ||||||||||
Non-interest income/(loss) | 434 | 3,718 | 286 | ||||||||||
Non-interest expense | 2,443 | 2,064 | 1,548 | ||||||||||
Income/(loss) before income tax benefit | 133,184 | 153,322 | (4,041 | ) | |||||||||
Income tax benefit | (2,037 | ) | (579 | ) | (1,699 | ) | |||||||
Loss before undistributed earnings of subsidiaries | 135,221 | 153,901 | (2,342 | ) | |||||||||
Distributions less (more) than earnings of subsidiaries | (12,078 | ) | (36,463 | ) | 102,492 | ||||||||
Net income | $ | 123,143 | $ | 117,438 | $ | 100,150 | |||||||
Condensed Cash Flow Statement [Table Text Block] | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Cash flows from Operating Activities | |||||||||||||
Net income | $ | 123,143 | $ | 117,438 | $ | 100,150 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||
Dividends in excess of earnings of subsidiaries | 12,078 | 36,463 | - | ||||||||||
Equity in undistributed earnings of subsidiaries | - | - | (102,492 | ) | |||||||||
Gains on sale of securities | - | (3,380 | ) | - | |||||||||
Increase in accrued expense | - | 12 | 24 | ||||||||||
Write-downs on venture capital and other investments | 357 | 262 | 321 | ||||||||||
Write-downs on impaired securities | - | 181 | 200 | ||||||||||
Loss/(gains) in fair value of warrants | 56 | 114 | (215 | ) | |||||||||
Excess tax short-fall from stock options | 2,509 | 620 | 290 | ||||||||||
Net change in other assets | (1,684 | ) | 1,820 | (121 | ) | ||||||||
Net change in other liabilities | 27 | 59 | (221 | ) | |||||||||
Net cash provided by/(used in) operating activities | 136,486 | 153,589 | (2,064 | ) | |||||||||
Cash flows from Investment Activities | |||||||||||||
Decrease/(increase) in short-term investment | 123,300 | (142,300 | ) | 17,500 | |||||||||
Proceeds from sale of available-for-sale securities | - | 4,849 | - | ||||||||||
Venture capital and other investments | (835 | ) | (694 | ) | (671 | ) | |||||||
Net cash provided by/(used in) investment activities | 122,465 | (138,145 | ) | 16,829 | |||||||||
Cash flows from Financing Activities | |||||||||||||
Redemption of Series B preferred stock | (258,000 | ) | - | - | |||||||||
Cash dividends | (12,606 | ) | (16,049 | ) | (16,046 | ) | |||||||
Proceeds from shares issued under the Dividend Reinvestment Plan | 605 | 291 | 287 | ||||||||||
Proceeds from exercise of stock options | 14,755 | 764 | 1,306 | ||||||||||
Excess tax short-fall from share-based payment arrangements | (2,509 | ) | (620 | ) | (290 | ) | |||||||
Net cash used in financing activities | (257,755 | ) | (15,614 | ) | (14,743 | ) | |||||||
Increase/(decrease) in cash and cash equivalents | 1,196 | (170 | ) | 22 | |||||||||
Cash and cash equivalents, beginning of year | 639 | 809 | 787 | ||||||||||
Cash and cash equivalents, end of year | $ | 1,835 | $ | 639 | $ | 809 |
Note_22_Regulatory_Matters_Tab
Note 22 - Regulatory Matters (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||||||||||
Company | Bank | Company | Bank | ||||||||||||||||||||||||||||||
Balance | Percentage | Balance | Percentage | Balance | Percentage | Balance | Percentage | ||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Tier I Capital (to risk- weighted assets) | $ | 1,288,892 | 15.04 | % | $ | 1,244,480 | 14.53 | % | $ | 1,426,566 | 17.36 | % | $ | 1,259,005 | 15.33 | % | |||||||||||||||||
Tier I Capital minimum requirement | 342,899 | 4 | 342,701 | 4 | 328,713 | 4 | 328,440 | 4 | |||||||||||||||||||||||||
Excess | $ | 945,993 | 11.04 | % | $ | 901,779 | 10.53 | % | $ | 1,097,853 | 13.36 | % | $ | 930,565 | 11.33 | % | |||||||||||||||||
Total Capital (to risk- weighted assets) | $ | 1,401,319 | 16.35 | % | $ | 1,352,415 | 15.79 | % | $ | 1,571,060 | 19.12 | % | $ | 1,402,691 | 17.08 | % | |||||||||||||||||
Total Capital minimum requirement | 685,799 | 8 | 685,402 | 8 | 657,426 | 8 | 656,880 | 8 | |||||||||||||||||||||||||
Excess | $ | 715,520 | 8.35 | % | $ | 667,013 | 7.79 | % | $ | 913,634 | 11.12 | % | $ | 745,811 | 9.08 | % | |||||||||||||||||
Tier I Capital (to average assets) Leverage ratio | $ | 1,288,892 | 12.48 | % | $ | 1,244,480 | 12.06 | % | $ | 1,426,566 | 13.82 | % | $ | 1,259,005 | 12.22 | % | |||||||||||||||||
Minimum leverage requirement | 413,158 | 4 | 412,815 | 4 | 412,844 | 4 | 412,272 | 4 | |||||||||||||||||||||||||
Excess | $ | 875,734 | 8.48 | % | $ | 831,665 | 8.06 | % | $ | 1,013,722 | 9.82 | % | $ | 846,733 | 8.22 | % | |||||||||||||||||
Total average assets (1) | $ | 10,328,952 | $ | 10,320,368 | $ | 10,321,104 | $ | 10,306,790 | |||||||||||||||||||||||||
Risk-weighted assets | $ | 8,572,487 | $ | 8,567,523 | $ | 8,217,821 | $ | 8,211,004 |
Note_23_Balance_Sheet_Offsetti1
Note 23 - Balance Sheet Offsetting (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | ' | ||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position | |||||||||||||||||||||||||
Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Balance Sheet | Net Amounts of Liabilities Presented in the Balance Sheet | Financial Instruments | Collateral Posted | Net Amount | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Securities sold under agreements to repurchase | $ | 800,000 | $ | - | $ | 800,000 | $ | - | $ | (800,000 | ) | $ | - | ||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Securities sold under agreements to repurchase | $ | 1,250,000 | $ | - | $ | 1,250,000 | $ | - | $ | (1,250,000 | ) | $ | - |
Note_24_Quarterly_Results_of_O1
Note 24 - Quarterly Results of Operations (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Summary of Operations | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
Fourth | Third | Second | First | Fourth | Third | Second | First | ||||||||||||||||||||||||||
Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | ||||||||||||||||||||||||||
(In thousands, except per share data) | |||||||||||||||||||||||||||||||||
Interest income | $ | 101,621 | $ | 102,462 | $ | 100,862 | $ | 102,051 | $ | 105,281 | $ | 106,747 | $ | 107,581 | $ | 110,135 | |||||||||||||||||
Interest expense | 19,659 | 19,854 | 20,868 | 21,919 | 24,216 | 26,330 | 28,461 | 29,484 | |||||||||||||||||||||||||
Net interest income | 81,962 | 82,608 | 79,994 | 80,132 | 81,065 | 80,417 | 79,120 | 80,651 | |||||||||||||||||||||||||
Reversal for credit losses | - | (3,000 | ) | - | - | - | - | (5,000 | ) | (4,000 | ) | ||||||||||||||||||||||
Net-interest income after provision for loan losses | 81,962 | 85,608 | 79,994 | 80,132 | 81,065 | 80,417 | 84,120 | 84,651 | |||||||||||||||||||||||||
Non-interest income | 8,345 | 16,720 | 20,361 | 14,881 | 12,202 | 15,622 | 9,852 | 8,831 | |||||||||||||||||||||||||
Non-interest expense | 40,319 | 50,670 | 53,716 | 49,128 | 49,532 | 47,844 | 47,342 | 47,871 | |||||||||||||||||||||||||
Income before income tax expense | 49,988 | 51,658 | 46,639 | 45,885 | 43,735 | 48,195 | 46,630 | 45,611 | |||||||||||||||||||||||||
Income tax expense | 17,946 | 19,029 | 16,573 | 16,887 | 15,276 | 17,686 | 16,619 | 16,547 | |||||||||||||||||||||||||
Net income | 32,042 | 32,629 | 30,066 | 28,998 | 28,459 | 30,509 | 30,011 | 29,064 | |||||||||||||||||||||||||
Less: net income attributable to noncontrolling interest | 140 | 151 | 150 | 151 | 153 | 151 | 150 | 151 | |||||||||||||||||||||||||
Net income attributable to Cathay General Bancorp | 31,902 | 32,478 | 29,916 | 28,847 | 28,306 | 30,358 | 29,861 | 28,913 | |||||||||||||||||||||||||
Dividends on preferred stock | - | (2,434 | ) | (2,067 | ) | (5,184 | ) | (4,127 | ) | (4,123 | ) | (4,121 | ) | (4,117 | ) | ||||||||||||||||||
Net income available to common stockholders | $ | 31,902 | $ | 30,044 | $ | 27,849 | $ | 23,663 | $ | 24,179 | $ | 26,235 | $ | 25,740 | $ | 24,796 | |||||||||||||||||
Basic net income attributable to common stockholders per common share | $ | 0.4 | $ | 0.38 | $ | 0.35 | $ | 0.3 | $ | 0.31 | $ | 0.33 | $ | 0.33 | $ | 0.32 | |||||||||||||||||
Diluted net income attributable to common stockholders per common share | $ | 0.4 | $ | 0.38 | $ | 0.35 | $ | 0.3 | $ | 0.31 | $ | 0.33 | $ | 0.33 | $ | 0.32 |
Note_1_Summary_of_Significant_2
Note 1 - Summary of Significant Accounting Policies (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' |
Number of Limited Partnerships in Housing Investments | 6 | ' | 6 | 6 | ' |
Percentage Of Subsidiaries Common Securities Owned By Parent Company | 100.00% | ' | 100.00% | ' | ' |
Gross Loans Comprised Of Commercial Mortgage Loans Percentage | 49.80% | ' | 49.80% | ' | ' |
Gross Loans Comprised Of Commercial Loans Percentage | 28.40% | ' | 28.40% | ' | ' |
Total Deposits Comprised Of Time Deposit Percentage | ' | ' | ' | 39.30% | ' |
Jumbo Cds Deposit With Company For Two Years Or More Percentage | 67.70% | ' | 67.70% | ' | ' |
Federal Home Loan Bank Stock (in Dollars) | $25,000,000 | ' | $25,000,000 | $41,272,000 | ' |
Minimum Stock Requirement On Outstanding Federal Home Loan Bank Borrowings Shares (in Shares) | 250,000 | ' | 250,000 | ' | ' |
Advances from Federal Home Loan Banks (in Dollars) | 521,200,000 | ' | 521,200,000 | 146,200,000 | ' |
Maximum Loan Size Portfolio Stratification Homogenous Portfolio (in Dollars) | 500,000 | ' | 500,000 | ' | ' |
Venture Capital Investments Limited Partnership Interests Represent Ownership Maximum Percentage | 5.00% | ' | 5.00% | ' | ' |
Number of Reportable Segments | 2 | 3 | ' | ' | ' |
Goodwill, Transfers (in Dollars) | ' | ' | 81,000,000 | ' | ' |
Unamortized Core Deposit Premium (in Dollars) | 882,000 | ' | 882,000 | 4,900,000 | ' |
Amortization of Intangible Assets (in Dollars) | ' | ' | 4,533,000 | 5,663,000 | 5,859,000 |
California [Member] | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' |
Residential Mortgages Properties Percentage | 59.00% | ' | 59.00% | ' | ' |
Core Deposits [Member] | ' | ' | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' | ' | ' |
Amortization of Intangible Assets (in Dollars) | ' | ' | $4,500,000 | $5,700,000 | $5,900,000 |
Note_1_Summary_of_Significant_3
Note 1 - Summary of Significant Accounting Policies (Details) - Premises and Equipment | 12 Months Ended |
Dec. 31, 2013 | |
Building [Member] | Minimum [Member] | ' |
Note 1 - Summary of Significant Accounting Policies (Details) - Premises and Equipment [Line Items] | ' |
Estimated useful life | '15 years |
Building [Member] | Maximum [Member] | ' |
Note 1 - Summary of Significant Accounting Policies (Details) - Premises and Equipment [Line Items] | ' |
Estimated useful life | '45 years |
Building Improvements [Member] | Minimum [Member] | ' |
Note 1 - Summary of Significant Accounting Policies (Details) - Premises and Equipment [Line Items] | ' |
Estimated useful life | '5 years |
Building Improvements [Member] | Maximum [Member] | ' |
Note 1 - Summary of Significant Accounting Policies (Details) - Premises and Equipment [Line Items] | ' |
Estimated useful life | '20 years |
Furniture, Fixtures, and Equipment [Member] | Minimum [Member] | ' |
Note 1 - Summary of Significant Accounting Policies (Details) - Premises and Equipment [Line Items] | ' |
Estimated useful life | '3 years |
Furniture, Fixtures, and Equipment [Member] | Maximum [Member] | ' |
Note 1 - Summary of Significant Accounting Policies (Details) - Premises and Equipment [Line Items] | ' |
Estimated useful life | '25 years |
Leasehold Improvements [Member] | Minimum [Member] | ' |
Note 1 - Summary of Significant Accounting Policies (Details) - Premises and Equipment [Line Items] | ' |
Leasehold improvements | 'Shorter of useful lives or the terms of the leases |
Note_2_Cash_and_Cash_Equivalen1
Note 2 - Cash and Cash Equivalents (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Cash and Cash Equivalents [Abstract] | ' | ' |
Average Reserve Balances Required To Be Maintained With Federal Bank | $6.50 | $12.90 |
Note_3_Securities_Purchased_Un1
Note 3 - Securities Purchased Under Agreements to Resell (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Disclosure Text Block [Abstract] | ' | ' | ' |
Interest Income, Securities Purchased under Agreements to Resell | $0 | $18,000 | $83,000 |
Note_4_Investment_Securities_D
Note 4 - Investment Securities (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | |
Note 4 - Investment Securities (Details) [Line Items] | ' | ' | ' | ' | ' |
Held-to-maturity Securities, Transferred Security, at Carrying Value | ' | ' | ' | ' | $722,500,000 |
Held-to-maturity Securities, Transferred Security, Unrealized Gain (Loss) | 40,500,000 | ' | ' | ' | ' |
Proceeds from Sale of Mortgage Backed Securities (MBS) categorized as Available-for-sale | ' | 456,400,000 | 501,100,000 | 759,700,000 | ' |
Proceeds from Maturities, Prepayments and Calls of Mortgage Backed Securities (MBS) | ' | 213,200,000 | 118,100,000 | 108,400,000 | ' |
Proceeds From Sales and Repayments of Other Investment Securities | ' | 575,400,000 | 61,000,000 | 525,000,000 | ' |
Proceeds From Maturities Repayments And Calls Of Held For Investment | ' | 231,100,000 | 552,100,000 | 435,000,000 | ' |
Realized Gain From Sale and Call of Investment Securities | ' | 29,000,000 | 18,600,000 | 21,100,000 | ' |
Realized Loss From Sale and Call of Investment Securities | ' | 1,600,000 | 607,000 | 0 | ' |
Available-for-sale Securities, Gross Unrealized Loss | ' | 69,808,000 | 14,150,000 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Other, Percentage of Nonperforming Assets | ' | 62.00% | ' | ' | ' |
Percentage of Unrealized Losses for Securities with Unrealized Losses for Less Than Twelve Months | ' | 6.90% | ' | ' | ' |
Percentage of Unrealized Losses for Securities with Unrealized Losses for Greater than Twelve Months | ' | 4.70% | ' | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | ' | 19 | ' | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | ' | 30 | ' | ' | ' |
Pledged Investment Securities | ' | 926,500,000 | 1,450,000,000 | ' | ' |
Collateralized Mortgage Backed Securities [Member] | ' | ' | ' | ' | ' |
Note 4 - Investment Securities (Details) [Line Items] | ' | ' | ' | ' | ' |
Available-for-sale Securities, Gross Unrealized Loss | ' | $64,529,000 | $5,000 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | ' | 7 | 6 | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | ' | 25 | 2 | ' | ' |
Note_4_Investment_Securities_D1
Note 4 - Investment Securities (Details) - Investment Securities (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Securities Available-for-Sale | ' | ' |
Securities Available-for-sale, Amortized Cost | $1,637,965 | $1,290,676 |
Securities Available-for-sale, Gross Unrealized Gains | 18,511 | 14,954 |
Securities Available-for-sale, Gross Unrealized Losses | 69,808 | 14,150 |
Securities Available-for-sale, Fair Value | 1,586,668 | 1,291,480 |
Total investment securities - Amortized Cost | 1,637,695 | 2,064,444 |
Total investment securities - Gross Unrealized Gains | 18,511 | 65,092 |
Total investment securities - Gross Unrealized Losses | 69,808 | 14,150 |
Total investment securities - Fair Value | 1,586,668 | 2,115,386 |
Securities Held-to-Maturity | ' | ' |
Securities Held-to-Maturity, Amortized Cost | ' | 773,768 |
Securities Held-to-Maturity, Gross Unrealized Gains | ' | 50,138 |
Securities Held-to-Maturity, Fair Value | ' | 823,906 |
US Treasury Securities [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-sale, Amortized Cost | 460,095 | 509,748 |
Securities Available-for-sale, Gross Unrealized Gains | 99 | 228 |
Securities Available-for-sale, Gross Unrealized Losses | 1 | 5 |
Securities Available-for-sale, Fair Value | 460,193 | 509,971 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-sale, Amortized Cost | 1,010,294 | 404,505 |
Securities Available-for-sale, Gross Unrealized Gains | 7,049 | 12,194 |
Securities Available-for-sale, Gross Unrealized Losses | 64,529 | 5 |
Securities Available-for-sale, Fair Value | 952,814 | 416,694 |
Securities Held-to-Maturity | ' | ' |
Securities Held-to-Maturity, Amortized Cost | ' | 634,757 |
Securities Held-to-Maturity, Gross Unrealized Gains | ' | 40,801 |
Securities Held-to-Maturity, Fair Value | ' | 675,558 |
Collateralized Mortgage Obligations [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-sale, Amortized Cost | 5,929 | 9,772 |
Securities Available-for-sale, Gross Unrealized Gains | 231 | 430 |
Securities Available-for-sale, Gross Unrealized Losses | 54 | 34 |
Securities Available-for-sale, Fair Value | 6,106 | 10,168 |
Asset-backed Securities [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-sale, Amortized Cost | 123 | 145 |
Securities Available-for-sale, Gross Unrealized Losses | ' | 4 |
Securities Available-for-sale, Fair Value | 123 | 141 |
Corporate Debt Securities [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-sale, Amortized Cost | 154,955 | 349,973 |
Securities Available-for-sale, Gross Unrealized Gains | 298 | 106 |
Securities Available-for-sale, Gross Unrealized Losses | 4,949 | 14,102 |
Securities Available-for-sale, Fair Value | 150,304 | 335,977 |
Securities Held-to-Maturity | ' | ' |
Securities Held-to-Maturity, Amortized Cost | ' | 9,974 |
Securities Held-to-Maturity, Gross Unrealized Gains | ' | 69 |
Securities Held-to-Maturity, Fair Value | ' | 10,043 |
Mutual Funds Member | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-sale, Amortized Cost | 6,000 | 6,000 |
Securities Available-for-sale, Gross Unrealized Gains | ' | 79 |
Securities Available-for-sale, Gross Unrealized Losses | 275 | ' |
Securities Available-for-sale, Fair Value | 5,725 | 6,079 |
Preferred Stock Of Government Sponsored Entities Member | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-sale, Amortized Cost | 569 | 569 |
Securities Available-for-sale, Gross Unrealized Gains | 10,834 | 1,766 |
Securities Available-for-sale, Fair Value | 11,403 | 2,335 |
State and Municipal Securities [Member] | ' | ' |
Securities Held-to-Maturity | ' | ' |
Securities Held-to-Maturity, Amortized Cost | ' | 129,037 |
Securities Held-to-Maturity, Gross Unrealized Gains | ' | 9,268 |
Securities Held-to-Maturity, Fair Value | ' | 138,305 |
Trust Preferred Securities [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-sale, Amortized Cost | ' | 9,964 |
Securities Available-for-sale, Gross Unrealized Gains | ' | 151 |
Securities Available-for-sale, Fair Value | ' | $10,115 |
Note_4_Investment_Securities_D2
Note 4 - Investment Securities (Details) - Investments by Contractual Maturity Date (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | |
In Thousands, unless otherwise specified | |||
Investments by Contractual Maturity Date [Abstract] | ' | ' | |
Due in one year or less | $460,106 | ' | |
Due in one year or less | 460,204 | ' | |
Due after one year through five years | 80,769 | ' | |
Due after one year through five years | 82,079 | ' | |
Due after five years through ten years | 112,654 | ' | |
Due after five years through ten years | 108,840 | ' | |
Due after ten years (1) | 984,436 | [1] | ' |
Due after ten years (1) | 935,545 | [1] | ' |
Total | 1,637,965 | 1,290,676 | |
Total | $1,586,668 | $1,291,480 | |
[1] | Equity securities are reported in this category |
Note_4_Investment_Securities_D3
Note 4 - Investment Securities (Details) - Temporarily Impaired Securities (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Securities Available-for-Sale | ' | ' |
Securities Available-for-Sale - Less than 12 Months - No. of Issuances | 30 | ' |
Securities Available-for-Sale - 12 Months or longer - No. of Issuances | 19 | ' |
US Treasury Securities [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-Sale - Less than 12 Months - Fair Value | $75,064 | $49,969 |
Securities Available-for-Sale - Less than 12 Months - Unrealized Losses | 1 | 5 |
Securities Available-for-Sale - Less than 12 Months - No. of Issuances | 1 | 1 |
Securities Available-for-Sale - Fair Value | 75,064 | 49,969 |
Securities Available-for-Sale - Unrealized Losses | 1 | 5 |
Securities Available-for-Sale - No. of Issuances | 1 | 1 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-Sale - Less than 12 Months - Fair Value | 792,012 | 231 |
Securities Available-for-Sale - Less than 12 Months - Unrealized Losses | 64,526 | 1 |
Securities Available-for-Sale - Less than 12 Months - No. of Issuances | 25 | 2 |
Securities Available-for-Sale - 12 Months or longer - Fair Value | 272 | 170 |
Securities Available-for-Sale - 12 Months or longer - Unrealized Losses | 2 | 1 |
Securities Available-for-Sale - 12 Months or longer - No. of Issuances | 7 | 6 |
Securities Available-for-Sale - Fair Value | 792,284 | 401 |
Securities Available-for-Sale - Unrealized Losses | 64,528 | 2 |
Securities Available-for-Sale - No. of Issuances | 32 | 8 |
Mortgage Backed Securities Non Agency Member | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-Sale - Less than 12 Months - Fair Value | 94 | ' |
Securities Available-for-Sale - Less than 12 Months - Unrealized Losses | 1 | ' |
Securities Available-for-Sale - Less than 12 Months - No. of Issuances | 1 | ' |
Securities Available-for-Sale - 12 Months or longer - Fair Value | ' | 96 |
Securities Available-for-Sale - 12 Months or longer - Unrealized Losses | ' | 2 |
Securities Available-for-Sale - 12 Months or longer - No. of Issuances | ' | 1 |
Securities Available-for-Sale - Fair Value | 94 | 96 |
Securities Available-for-Sale - Unrealized Losses | 1 | 2 |
Securities Available-for-Sale - No. of Issuances | 1 | 1 |
Collateralized Mortgage Obligations [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-Sale - Less than 12 Months - Fair Value | 68 | ' |
Securities Available-for-Sale - Less than 12 Months - Unrealized Losses | 4 | ' |
Securities Available-for-Sale - Less than 12 Months - No. of Issuances | 2 | ' |
Securities Available-for-Sale - 12 Months or longer - Fair Value | 301 | 439 |
Securities Available-for-Sale - 12 Months or longer - Unrealized Losses | 50 | 35 |
Securities Available-for-Sale - 12 Months or longer - No. of Issuances | 3 | 4 |
Securities Available-for-Sale - Fair Value | 369 | 439 |
Securities Available-for-Sale - Unrealized Losses | 54 | 35 |
Securities Available-for-Sale - No. of Issuances | 5 | 4 |
Corporate Debt Securities [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-Sale - Less than 12 Months - Fair Value | 9,970 | 52,468 |
Securities Available-for-Sale - Less than 12 Months - Unrealized Losses | 30 | 2,532 |
Securities Available-for-Sale - Less than 12 Months - No. of Issuances | 1 | 4 |
Securities Available-for-Sale - 12 Months or longer - Fair Value | 100,081 | 253,430 |
Securities Available-for-Sale - 12 Months or longer - Unrealized Losses | 4,919 | 11,570 |
Securities Available-for-Sale - 12 Months or longer - No. of Issuances | 8 | 22 |
Securities Available-for-Sale - Fair Value | 110,051 | 305,898 |
Securities Available-for-Sale - Unrealized Losses | 4,949 | 14,102 |
Securities Available-for-Sale - No. of Issuances | 9 | 26 |
Mutual Funds Member | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-Sale - 12 Months or longer - Fair Value | 5,724 | ' |
Securities Available-for-Sale - 12 Months or longer - Unrealized Losses | 275 | ' |
Securities Available-for-Sale - 12 Months or longer - No. of Issuances | 1 | ' |
Securities Available-for-Sale - Fair Value | 5,724 | ' |
Securities Available-for-Sale - Unrealized Losses | 275 | ' |
Securities Available-for-Sale - No. of Issuances | 1 | ' |
Total [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-Sale - Less than 12 Months - Fair Value | 877,208 | 102,668 |
Securities Available-for-Sale - Less than 12 Months - Unrealized Losses | 64,562 | 2,538 |
Securities Available-for-Sale - Less than 12 Months - No. of Issuances | 30 | 7 |
Securities Available-for-Sale - 12 Months or longer - Fair Value | 106,378 | 254,276 |
Securities Available-for-Sale - 12 Months or longer - Unrealized Losses | 5,246 | 11,612 |
Securities Available-for-Sale - 12 Months or longer - No. of Issuances | 19 | 34 |
Securities Available-for-Sale - Fair Value | 983,586 | 356,944 |
Securities Available-for-Sale - Unrealized Losses | 69,808 | 14,150 |
Securities Available-for-Sale - No. of Issuances | 49 | 41 |
Asset-backed Securities [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-Sale - 12 Months or longer - Fair Value | ' | 141 |
Securities Available-for-Sale - 12 Months or longer - Unrealized Losses | ' | 4 |
Securities Available-for-Sale - 12 Months or longer - No. of Issuances | ' | 1 |
Securities Available-for-Sale - Fair Value | ' | 141 |
Securities Available-for-Sale - Unrealized Losses | ' | $4 |
Securities Available-for-Sale - No. of Issuances | ' | 1 |
Note_5_Loans_Details
Note 5 - Loans (Details) (USD $) | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Mar. 31, 2012 | Jul. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Nonaccrual Loans [Member] | Nonaccrual Loans [Member] | Nonaccrual Loans [Member] | Accruing Troubled Debt Restructuring Member | Accruing Troubled Debt Restructuring Member | Accruing Troubled Debt Restructuring Member | Accruing Troubled Debt Restructuring Member | Accruing Troubled Debt Restructuring Member | Accruing Troubled Debt Restructuring Member | Accruing Troubled Debt Restructuring Member | Accruing Troubled Debt Restructuring Member | Accruing Troubled Debt Restructuring Member | Nonaccrual Loans Held For Sale [Member] | Real Estate Loans [Member] | Real Estate Loans [Member] | Commercial Loans Member | Commercial Loans Member | Commercial Real Estate Loans [Member] | Construction [Member] | Residential Mortgage Loans [Member] | Accruing Troubled Debt Restructuring Member | Accruing Troubled Debt Restructuring Member | Accruing Troubled Debt Restructuring Member | Accruing Troubled Debt Restructuring Member | Non Accruing Troubled Debt Restructuring Member | Non Accruing Troubled Debt Restructuring Member | Non Accruing Troubled Debt Restructuring Member | Non Accruing Troubled Debt Restructuring Member | Retail Shopping And Commercial Use Building Member | Retail Shopping And Commercial Use Building Member | Office And Commercial Use Building Member | Office And Commercial Use Building Member | Hotel Loan Member | Hotel Loan Member | Single Family Residential Loan Member | Single Family Residential Loan Member | Land Loan Member | Land Loan Member | Commercial Loans Member | Commercial Loans Member | Multi-Family Residences [Member] | Multi-Family Residences [Member] | Minimum [Member] | Maximum [Member] | ||||||
Commercial Loans Member | Commercial Loans Member | Commercial Loans Member | Residential Mortgage Loans [Member] | Residential Mortgage Loans [Member] | Residential Mortgage Loans [Member] | ||||||||||||||||||||||||||||||||||||||||||||
Note 5 - Loans (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,600,000,000 | $1,600,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans Pledged with Federal Reserve Bank | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 119,100,000 | 211,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Servicing Asset at Fair Value, Amount | ' | ' | 197,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 53,300,000 | ' | 13,300,000 | 12,000,000 | 119,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mortgage Loans on Real Estate, Cost of Mortgages Sold | 7,900,000 | 24,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Loan Participation to Contractual Balance | 92.50% | 98.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Recorded Investment | ' | ' | 200,780,000 | 248,597,000 | ' | 83,200,000 | 103,900,000 | ' | ' | ' | ' | ' | ' | ' | 117,600,000 | ' | ' | 144,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 68,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | ' | ' | 221,152,000 | 277,776,000 | 361,353,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Interest Income, Accrual Method | ' | ' | 5,599,000 | 9,305,000 | 5,330,000 | 5,851,000 | 6,621,000 | 13,049,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Charge-Off To Contractual Balances For Impaired Loans | ' | ' | 23.90% | 23.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Troubled Debt Restructurings, Total | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 117,600,000 | 144,700,000 | ' | ' | 38,800,000 | 47,700,000 | ' | ' | 44,200,000 | ' | 28,600,000 | ' | 17,200,000 | ' | 20,000,000 | ' | 1,600,000 | ' | 5,300,000 | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Modifications, Related Allowance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,900,000 | 1,100,000 | ' | ' | 2,200,000 | 7,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Modifications, Number of Contracts | ' | ' | 64 | 61 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13 | 16 | 10 | 15 | 4 | 2 | 25 | 17 | 2 | 2 | 5 | 6 | 5 | 3 | ' | ' |
Troubled Debt Restructurings, New Restructurings | ' | ' | 27,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,382,000 | 53,958,000 | 60,863,000 | ' | 6,226,000 | 12,304,000 | 13,269,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | ' | ' | ' | ' | ' | ' | ' | ' | $14,736,000 | $3,964,000 | $15,120,000 | $6,105,000 | $4,716,000 | $3,368,000 | $117,597,000 | $144,695,000 | $120,016,000 | ' | ' | ' | ' | ' | ' | ' | ' | $117,597,000 | $144,695,000 | $120,016,000 | $136,800,000 | $38,769,000 | $47,731,000 | $50,870,000 | $28,146,000 | ' | ' | ' | $40,400,000 | ' | $12,400,000 | ' | $19,100,000 | ' | $2,300,000 | ' | $1,300,000 | $748,000 | $1,100,000 | ' | ' |
Period Loan Is In Payment Default | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60 | 90 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_5_Loans_Details_Component
Note 5 - Loans (Details) - Components of Loans in Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Type of Loans: | ' | ' | ' |
Gross Loans | $8,084,563 | $7,429,147 | $7,059,212 |
Allowance for loan losses | -173,889 | -183,322 | -206,280 |
Unamortized deferred loan fees | -13,487 | -10,238 | ' |
Total loans and leases, net | 7,897,187 | 7,235,587 | ' |
Commercial Loans Member | ' | ' | ' |
Type of Loans: | ' | ' | ' |
Gross Loans | 2,298,724 | 2,127,107 | ' |
Real Estate Construction Loans [Member] | ' | ' | ' |
Type of Loans: | ' | ' | ' |
Gross Loans | 221,701 | 180,950 | ' |
Commercial Mortgage Loans [Member] | ' | ' | ' |
Type of Loans: | ' | ' | ' |
Gross Loans | 4,023,051 | 3,768,452 | ' |
Residential Mortgage Loans [Member] | ' | ' | ' |
Type of Loans: | ' | ' | ' |
Gross Loans | 1,355,255 | 1,146,230 | ' |
Equity Lines [Member] | ' | ' | ' |
Type of Loans: | ' | ' | ' |
Gross Loans | 171,277 | 193,852 | ' |
Installment And Other Loans Member | ' | ' | ' |
Type of Loans: | ' | ' | ' |
Gross Loans | $14,555 | $12,556 | ' |
Note_5_Loans_Details_Loans_to_
Note 5 - Loans (Details) - Loans to Related Parties (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Loans to Related Parties [Abstract] | ' | ' |
Balance at beginning of year | $172,584 | $160,069 |
Additional loans made | 64,063 | 92,249 |
Payment received | -109,662 | -79,734 |
Balance at end of year | $126,985 | $172,584 |
Note_5_Loans_Details_Impaired_
Note 5 - Loans (Details) - Impaired Loans and Related Allowance For Credit Losses (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
With allocated allowance | ' | ' |
Allowance | $13,284 | $12,183 |
Total impaired loans | 263,848 | 323,786 |
Total impaired loans | 200,780 | 248,597 |
Total impaired loans | 13,284 | 12,183 |
Commercial Loans Member | ' | ' |
With allocated allowance | ' | ' |
Loans with related allowance unpaid principal balance | 22,737 | 7,804 |
Loans with related allowance recorded investment | 13,063 | 4,959 |
Allowance | 2,519 | 1,467 |
Total impaired loans | 2,519 | 1,467 |
Real Estate Construction Loans [Member] | ' | ' |
With allocated allowance | ' | ' |
Loans with related allowance unpaid principal balance | 28,475 | 54,718 |
Loans with related allowance recorded investment | 19,323 | 34,856 |
Allowance | 3,460 | 8,158 |
Total impaired loans | 3,460 | 8,158 |
Commercial Mortgage Loans [Member] | ' | ' |
With allocated allowance | ' | ' |
Loans with related allowance unpaid principal balance | 39,223 | 14,163 |
Loans with related allowance recorded investment | 35,613 | 12,928 |
Allowance | 6,584 | 1,336 |
Total impaired loans | 6,584 | 1,336 |
Residential Mortgage And Equity Lines Member | ' | ' |
With allocated allowance | ' | ' |
Loans with related allowance unpaid principal balance | 16,535 | 14,264 |
Loans with related allowance recorded investment | 14,957 | 12,428 |
Allowance | 721 | 1,222 |
Total impaired loans | 721 | 1,222 |
With Allocated Allowance Member | ' | ' |
With allocated allowance | ' | ' |
Loans with related allowance unpaid principal balance | 106,970 | 90,949 |
Loans with related allowance recorded investment | 82,956 | 65,171 |
Allowance | 13,284 | 12,183 |
Total impaired loans | 13,284 | 12,183 |
Commercial Loans Member | ' | ' |
With no allocated allowance | ' | ' |
Loans with no related allowance unpaid principal balance | 20,992 | 29,359 |
Loans with no related allowance recorded investment | 18,905 | 18,963 |
Real Estate Construction Loans [Member] | ' | ' |
With no allocated allowance | ' | ' |
Loans with no related allowance unpaid principal balance | 25,401 | 9,304 |
Loans with no related allowance recorded investment | 15,097 | 7,277 |
Commercial Mortgage Loans [Member] | ' | ' |
With no allocated allowance | ' | ' |
Loans with no related allowance unpaid principal balance | 105,593 | 189,871 |
Loans with no related allowance recorded investment | 78,930 | 152,957 |
Residential Mortgage And Equity Lines Member | ' | ' |
With no allocated allowance | ' | ' |
Loans with no related allowance unpaid principal balance | 4,892 | 4,303 |
Loans with no related allowance recorded investment | 4,892 | 4,229 |
With No Allocated Allowance Member | ' | ' |
With no allocated allowance | ' | ' |
Loans with no related allowance unpaid principal balance | 156,878 | 232,837 |
Loans with no related allowance recorded investment | $117,824 | $183,426 |
Note_5_Loans_Details_Average_B
Note 5 - Loans (Details) - Average Balance And Interest Income Recognized Related To Impaired Loans (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired Loans - Average Recorded Investment | $221,152 | $277,776 | $361,353 |
Impaired Loans - Interest Income Recognized | 5,599 | 9,305 | 5,330 |
Commercial Loans Member | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired Loans - Average Recorded Investment | 27,123 | 31,798 | 48,349 |
Impaired Loans - Interest Income Recognized | 770 | 580 | 1,053 |
Real Estate Construction Loans [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired Loans - Average Recorded Investment | 37,875 | 49,094 | 82,529 |
Impaired Loans - Interest Income Recognized | 284 | 265 | 940 |
Commercial Mortgage Loans [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired Loans - Average Recorded Investment | 138,121 | 178,822 | 212,555 |
Impaired Loans - Interest Income Recognized | 4,256 | 8,221 | 3,101 |
Residential Mortgage And Equity Lines Member | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired Loans - Average Recorded Investment | 18,033 | 18,062 | 17,920 |
Impaired Loans - Interest Income Recognized | $289 | $239 | $236 |
Note_5_Loans_Details_NonAccrua
Note 5 - Loans (Details) - Non-Accrual Loans (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Note 5 - Loans (Details) - Non-Accrual Loans [Line Items] | ' | ' | ' |
Non-accrual portfolio loans | $83,183 | $103,902 | $201,197 |
Non-accrual loans held-for-sale | ' | ' | 760 |
Total non-accrual loans | 83,183 | 103,902 | 201,957 |
Contractual interest due | 5,599 | 9,305 | 5,330 |
Nonaccrual Loans [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-Accrual Loans [Line Items] | ' | ' | ' |
Contractual interest due | 5,851 | 6,621 | 13,049 |
Interest recognized | 22 | 1,006 | 71 |
Net interest foregone | $5,829 | $5,615 | $12,978 |
Note_5_Loans_Details_Aging_of_
Note 5 - Loans (Details) - Aging of Loan Portfolio (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Type of Loans: | ' | ' | ' |
Total | $8,084,563 | $7,429,147 | $7,059,212 |
Commercial Loans Member | ' | ' | ' |
Type of Loans: | ' | ' | ' |
30-59 Days Past Due | 7,170 | 16,832 | ' |
60-89 Days Past Due | 16,562 | 1,610 | ' |
Greater than 90 Days Past Due | ' | 630 | ' |
Non-accrual Loans | 21,232 | 19,958 | ' |
Total Past Due | 44,964 | 39,030 | ' |
Loans Not Past Due | 2,253,760 | 2,088,077 | ' |
Total | 2,298,724 | 2,127,107 | ' |
Real Estate Construction Loans [Member] | ' | ' | ' |
Type of Loans: | ' | ' | ' |
60-89 Days Past Due | ' | 1,471 | ' |
Greater than 90 Days Past Due | 0 | 0 | ' |
Non-accrual Loans | 28,586 | 36,299 | ' |
Total Past Due | 28,586 | 37,770 | ' |
Loans Not Past Due | 193,115 | 143,180 | ' |
Total | 221,701 | 180,950 | 237,372 |
Commercial Mortgage Loans [Member] | ' | ' | ' |
Type of Loans: | ' | ' | ' |
30-59 Days Past Due | 20,043 | 21,570 | ' |
60-89 Days Past Due | 7,862 | 3,627 | ' |
Greater than 90 Days Past Due | 982 | 0 | ' |
Non-accrual Loans | 19,621 | 35,704 | ' |
Total Past Due | 48,508 | 60,901 | ' |
Loans Not Past Due | 3,974,543 | 3,707,551 | ' |
Total | 4,023,051 | 3,768,452 | 3,748,897 |
Residential Mortgage And Equity Lines Member | ' | ' | ' |
Type of Loans: | ' | ' | ' |
30-59 Days Past Due | 3,508 | 5,324 | ' |
60-89 Days Past Due | 832 | 1,972 | ' |
Greater than 90 Days Past Due | 0 | 0 | ' |
Non-accrual Loans | 13,744 | 11,941 | ' |
Total Past Due | 18,084 | 19,237 | ' |
Loans Not Past Due | 1,508,448 | 1,320,845 | ' |
Total | 1,526,532 | 1,340,082 | 1,186,969 |
Installment And Other Loans Member | ' | ' | ' |
Type of Loans: | ' | ' | ' |
30-59 Days Past Due | 100 | 0 | ' |
60-89 Days Past Due | ' | 0 | ' |
Greater than 90 Days Past Due | 0 | 0 | ' |
Non-accrual Loans | 0 | 0 | ' |
Total Past Due | 100 | 0 | ' |
Loans Not Past Due | 14,455 | 12,556 | ' |
Total | 14,555 | 12,556 | ' |
Total [Member] | ' | ' | ' |
Type of Loans: | ' | ' | ' |
30-59 Days Past Due | 30,821 | 43,726 | ' |
60-89 Days Past Due | 25,256 | 8,680 | ' |
Greater than 90 Days Past Due | 982 | 630 | ' |
Non-accrual Loans | 83,183 | 103,902 | ' |
Total Past Due | 140,242 | 156,938 | ' |
Loans Not Past Due | 7,944,321 | 7,272,209 | ' |
Total | $8,084,563 | $7,429,147 | ' |
Note_5_Loans_Details_Troubled_
Note 5 - Loans (Details) - Troubled Debt Restructurings Modified (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Note 5 - Loans (Details) - Troubled Debt Restructurings Modified [Line Items] | ' | ' | ' |
No. of Loans | 64 | 61 | ' |
Specific Reserve | $13,284 | $12,183 | ' |
Commercial Loans Member | Accruing Troubled Debt Restructuring Member | ' | ' | ' |
Note 5 - Loans (Details) - Troubled Debt Restructurings Modified [Line Items] | ' | ' | ' |
No. of Loans | 9 | 9 | 7 |
Pre-Modification Recorded Investment | 12,026 | 3,646 | 15,025 |
Post-Modification Recorded Investment | 10,860 | 3,646 | 15,025 |
Specific Reserve | 550 | 1,213 | 104 |
Charge-off | 1,166 | ' | ' |
Commercial Mortgage Loans [Member] | Accruing Troubled Debt Restructuring Member | ' | ' | ' |
Note 5 - Loans (Details) - Troubled Debt Restructurings Modified [Line Items] | ' | ' | ' |
No. of Loans | 5 | 20 | 6 |
Pre-Modification Recorded Investment | 13,090 | 62,118 | 17,343 |
Post-Modification Recorded Investment | 13,090 | 58,393 | 14,294 |
Specific Reserve | 329 | 27 | 1 |
Charge-off | ' | 3,725 | 3,049 |
Residential Mortgage Loans [Member] | Accruing Troubled Debt Restructuring Member | ' | ' | ' |
Note 5 - Loans (Details) - Troubled Debt Restructurings Modified [Line Items] | ' | ' | ' |
No. of Loans | 11 | 14 | 3 |
Pre-Modification Recorded Investment | 3,736 | 4,305 | 1,574 |
Post-Modification Recorded Investment | 3,658 | 4,223 | 1,574 |
Specific Reserve | 103 | 162 | 114 |
Charge-off | 78 | 82 | ' |
Total [Member] | Accruing Troubled Debt Restructuring Member | ' | ' | ' |
Note 5 - Loans (Details) - Troubled Debt Restructurings Modified [Line Items] | ' | ' | ' |
No. of Loans | 25 | 43 | 19 |
Pre-Modification Recorded Investment | 28,852 | 70,069 | 67,611 |
Post-Modification Recorded Investment | 27,608 | 66,262 | 52,415 |
Specific Reserve | 982 | 1,402 | 219 |
Charge-off | 1,244 | 3,807 | 15,196 |
Real Estate Construction Loans [Member] | Accruing Troubled Debt Restructuring Member | ' | ' | ' |
Note 5 - Loans (Details) - Troubled Debt Restructurings Modified [Line Items] | ' | ' | ' |
No. of Loans | ' | ' | 3 |
Pre-Modification Recorded Investment | ' | ' | 33,669 |
Post-Modification Recorded Investment | ' | ' | 21,522 |
Charge-off | ' | ' | 12,147 |
Accruing Troubled Debt Restructuring Member | ' | ' | ' |
Note 5 - Loans (Details) - Troubled Debt Restructurings Modified [Line Items] | ' | ' | ' |
Charge-off | ($78) | ($251) | ($2,341) |
Note_5_Loans_Details_Troubled_1
Note 5 - Loans (Details) - Troubled Debt Restructuring by Type of Concession and Type of Loans (Accruing Troubled Debt Restructuring Member, USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | $117,597,000 | $144,695,000 | $120,016,000 |
Principal Deferral [Member] | Commercial Loans Member | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | 9,112,000 | 531,000 | 12,933,000 |
Principal Deferral [Member] | Real Estate Construction Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | ' | ' | 16,820,000 |
Principal Deferral [Member] | Commercial Mortgage Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | 11,333,000 | 27,003,000 | 471,000 |
Principal Deferral [Member] | Residential Mortgage Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | 1,564,000 | 1,461,000 | 1,294,000 |
Principal Deferral [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | 22,009,000 | 28,995,000 | 31,518,000 |
Rate Reduction [Member] | Commercial Loans Member | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | 2,916,000 | 3,020,000 | 1,756,000 |
Rate Reduction [Member] | Real Estate Construction Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | ' | ' | 9,659,000 |
Rate Reduction [Member] | Commercial Mortgage Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | 9,389,000 | 16,656,000 | 37,796,000 |
Rate Reduction [Member] | Residential Mortgage Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | 1,024,000 | 1,024,000 | 587,000 |
Rate Reduction [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | 13,329,000 | 20,700,000 | 49,798,000 |
Rate Reduction and Forgiveness of Principal [Member] | Commercial Mortgage Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | ' | 739,000 | 2,071,000 |
Rate Reduction and Forgiveness of Principal [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | ' | 739,000 | 2,071,000 |
Rate Reduction and Payment Deferral [Member] | Commercial Loans Member | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | 2,708,000 | 413,000 | 431,000 |
Rate Reduction and Payment Deferral [Member] | Real Estate Construction Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | 5,834,000 | 5,834,000 | 5,776,000 |
Rate Reduction and Payment Deferral [Member] | Commercial Mortgage Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | 70,200,000 | 85,783,000 | 28,935,000 |
Rate Reduction and Payment Deferral [Member] | Residential Mortgage Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | 3,517,000 | 2,231,000 | 1,487,000 |
Rate Reduction and Payment Deferral [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | 82,259,000 | 94,261,000 | 36,629,000 |
Commercial Loans Member | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | 14,736,000 | 3,964,000 | 15,120,000 |
Real Estate Construction Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | 5,834,000 | 5,834,000 | 32,255,000 |
Commercial Mortgage Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | 90,922,000 | 130,181,000 | 69,273,000 |
Residential Mortgage Loans [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Accruing TDRs | $6,105,000 | $4,716,000 | $3,368,000 |
Recovered_Sheet1
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings (Non Accruing Troubled Debt Restructuring Member, USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | $38,769,000 | $47,731,000 | $50,870,000 |
Interest Deferral [Member] | Commercial Mortgage Loans [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | 1,443,000 | 1,685,000 | ' |
Interest Deferral [Member] | Residential Mortgage Loans [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | 241,000 | 275,000 | ' |
Interest Deferral [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | 1,684,000 | 1,960,000 | ' |
Principal Deferral [Member] | Commercial Loans Member | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | 2,866,000 | 912,000 | 616,000 |
Principal Deferral [Member] | Real Estate Construction Loans [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | 16,009,000 | 16,767,000 | 13,579,000 |
Principal Deferral [Member] | Commercial Mortgage Loans [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | 2,168,000 | 2,817,000 | 9,727,000 |
Principal Deferral [Member] | Residential Mortgage Loans [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | 2,206,000 | 2,010,000 | 2,427,000 |
Principal Deferral [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | 23,249,000 | 22,506,000 | 26,349,000 |
Rate Reduction [Member] | Commercial Loans Member | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | ' | ' | 1,859,000 |
Rate Reduction [Member] | Real Estate Construction Loans [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | ' | 9,579,000 | 12,376,000 |
Rate Reduction [Member] | Commercial Mortgage Loans [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | ' | 5,746,000 | ' |
Rate Reduction [Member] | Residential Mortgage Loans [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | ' | 586,000 | 449,000 |
Rate Reduction [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | ' | 15,911,000 | 14,684,000 |
Rate Reduction and Forgiveness of Principal [Member] | Commercial Loans Member | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | 1,352,000 | 1,518,000 | 1,506,000 |
Rate Reduction and Forgiveness of Principal [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | 1,352,000 | 1,518,000 | 1,506,000 |
Rate Reduction and Payment Deferral [Member] | Real Estate Construction Loans [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | 9,263,000 | ' | ' |
Rate Reduction and Payment Deferral [Member] | Commercial Mortgage Loans [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | 1,843,000 | 5,076,000 | 5,076,000 |
Rate Reduction and Payment Deferral [Member] | Residential Mortgage Loans [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | 1,378,000 | 760,000 | 311,000 |
Rate Reduction and Payment Deferral [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | 12,484,000 | 5,836,000 | 5,387,000 |
Commercial Loans Member | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | 4,218,000 | 2,430,000 | 3,981,000 |
Real Estate Construction Loans [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | 25,272,000 | 26,346,000 | 25,955,000 |
Commercial Mortgage Loans [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | 5,454,000 | 15,324,000 | 17,436,000 |
Residential Mortgage Loans [Member] | ' | ' | ' |
Note 5 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' | ' |
Non-accrual TDRs | $3,825,000 | $3,631,000 | $3,498,000 |
Note_5_Loans_Details_Activity_
Note 5 - Loans (Details) - Activity Within the Troubled Debt Resturing Loans (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 5 - Loans (Details) - Activity Within the Troubled Debt Resturing Loans [Line Items] | ' | ' | ' |
New restructurings | $27,100,000 | ' | ' |
Accruing Troubled Debt Restructuring Member | ' | ' | ' |
Note 5 - Loans (Details) - Activity Within the Troubled Debt Resturing Loans [Line Items] | ' | ' | ' |
Beginning balance | 144,695,000 | 120,016,000 | 136,800,000 |
New restructurings | 21,382,000 | 53,958,000 | 60,863,000 |
Restructured loans restored to accrual status | 6,851,000 | 8,356,000 | 709,000 |
Charge-offs | -78,000 | -251,000 | -2,341,000 |
Payments | -52,362,000 | -5,159,000 | -46,313,000 |
Restructured loans placed on nonaccrual | -2,891,000 | -32,225,000 | -28,969,000 |
Expiration of loan concession | ' | ' | -733,000 |
Ending balance | 117,597,000 | 144,695,000 | 120,016,000 |
Non Accruing Troubled Debt Restructuring Member | ' | ' | ' |
Note 5 - Loans (Details) - Activity Within the Troubled Debt Resturing Loans [Line Items] | ' | ' | ' |
Beginning balance | 47,731,000 | 50,870,000 | 28,146,000 |
New restructurings | 6,226,000 | 12,304,000 | 13,269,000 |
Restructured loans restored to accrual status | -6,851,000 | -8,356,000 | -709,000 |
Charge-offs | -2,124,000 | -4,182,000 | -7,303,000 |
Payments | -4,295,000 | -33,931,000 | -3,355,000 |
Foreclosures | -4,809,000 | -1,199,000 | -8,147,000 |
Restructured loans placed on nonaccrual | 2,891,000 | 32,225,000 | 28,969,000 |
Ending balance | $38,769,000 | $47,731,000 | $50,870,000 |
Note_5_Loans_Details_Portfolio
Note 5 - Loans (Details) - Portfolio by Risk Rating (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | $8,084,563 | $7,429,147 | $7,059,212 |
Commercial Loans Member | Pass [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 2,108,191 | 1,944,989 | ' |
Commercial Loans Member | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 84,786 | 76,776 | ' |
Commercial Loans Member | Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 102,088 | 94,077 | ' |
Commercial Loans Member | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 3,659 | 11,265 | ' |
Commercial Loans Member | Total [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 2,298,724 | 2,127,107 | ' |
Commercial Loans Member | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 2,298,724 | 2,127,107 | ' |
Real Estate Construction Loans [Member] | Pass [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 184,449 | 109,269 | ' |
Real Estate Construction Loans [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | ' | 18,000 | ' |
Real Estate Construction Loans [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 33,939 | 45,171 | ' |
Real Estate Construction Loans [Member] | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 3,313 | 8,510 | ' |
Real Estate Construction Loans [Member] | Total [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 221,701 | 180,950 | ' |
Real Estate Construction Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 221,701 | 180,950 | 237,372 |
Commercial Mortgage Loans [Member] | Pass [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 3,686,788 | 3,344,783 | ' |
Commercial Mortgage Loans [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 127,436 | 162,455 | ' |
Commercial Mortgage Loans [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 208,827 | 261,214 | ' |
Commercial Mortgage Loans [Member] | Total [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 4,023,051 | 3,768,452 | ' |
Commercial Mortgage Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 4,023,051 | 3,768,452 | 3,748,897 |
Residential Mortgage And Equity Lines Member | Pass [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 1,510,647 | 1,322,768 | ' |
Residential Mortgage And Equity Lines Member | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | ' | 816 | ' |
Residential Mortgage And Equity Lines Member | Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 15,885 | 16,084 | ' |
Residential Mortgage And Equity Lines Member | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | ' | 414 | ' |
Residential Mortgage And Equity Lines Member | Total [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 1,526,532 | 1,340,082 | ' |
Residential Mortgage And Equity Lines Member | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 1,526,532 | 1,340,082 | 1,186,969 |
Installment And Other Loans Member | Pass [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 14,555 | 12,556 | ' |
Installment And Other Loans Member | Total [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 14,555 | 12,556 | ' |
Installment And Other Loans Member | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 14,555 | 12,556 | ' |
Total [Member] | Pass [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 7,504,630 | 6,734,365 | ' |
Total [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 212,222 | 258,047 | ' |
Total [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 360,739 | 416,546 | ' |
Total [Member] | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 6,972 | 20,189 | ' |
Total [Member] | Total [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | 8,084,563 | 7,429,147 | ' |
Total [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Gross Loans | $8,084,563 | $7,429,147 | ' |
Note_5_Loans_Details_Allowance
Note 5 - Loans (Details) - Allowance for Loan Losses by Portfolio Segment and Based on Impairment Method (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Loans individually evaluated for impairment | ' | ' | ' |
Allowance individually evaluated for impairment | $13,284 | $171,139 | $7,552 |
Balance individually evaluated for impairment | 200,780 | 7,180,550 | 321,973 |
Loans collectively evaluated for impairment | ' | ' | ' |
Allowance collectively evaluated for impairment | 160,605 | 12,183 | 198,728 |
Balance collectively evaluated for impairment | 7,883,783 | 248,597 | 6,737,239 |
Total allowance | 173,889 | 183,322 | 206,280 |
Total balance | 8,084,563 | 7,429,147 | 7,059,212 |
Commercial Portfolio Segment [Member] | ' | ' | ' |
Loans individually evaluated for impairment | ' | ' | ' |
Allowance individually evaluated for impairment | 2,519 | 64,634 | 3,336 |
Balance individually evaluated for impairment | 31,968 | 2,103,185 | 45,781 |
Loans collectively evaluated for impairment | ' | ' | ' |
Allowance collectively evaluated for impairment | 62,584 | 1,467 | 62,322 |
Balance collectively evaluated for impairment | 2,266,756 | 23,922 | 1,822,494 |
Total allowance | 65,103 | 66,101 | 65,658 |
Total balance | 2,298,724 | 2,127,107 | 1,868,275 |
Real Estate Construction Loans [Member] | ' | ' | ' |
Loans individually evaluated for impairment | ' | ' | ' |
Allowance individually evaluated for impairment | 3,460 | 14,859 | ' |
Balance individually evaluated for impairment | 34,420 | 138,817 | 78,766 |
Loans collectively evaluated for impairment | ' | ' | ' |
Allowance collectively evaluated for impairment | 8,539 | 8,158 | 21,749 |
Balance collectively evaluated for impairment | 187,281 | 42,133 | 158,606 |
Total allowance | 11,999 | 23,017 | 21,749 |
Total balance | 221,701 | 180,950 | 237,372 |
Commercial Mortgage Loans [Member] | ' | ' | ' |
Loans individually evaluated for impairment | ' | ' | ' |
Allowance individually evaluated for impairment | 6,584 | 81,137 | 2,969 |
Balance individually evaluated for impairment | 114,544 | 3,602,567 | 177,058 |
Loans collectively evaluated for impairment | ' | ' | ' |
Allowance collectively evaluated for impairment | 78,169 | 1,336 | 105,052 |
Balance collectively evaluated for impairment | 3,908,507 | 165,885 | 3,571,839 |
Total allowance | 84,753 | 82,473 | 108,021 |
Total balance | 4,023,051 | 3,768,452 | 3,748,897 |
Residential Mortgage And Equity Lines Member | ' | ' | ' |
Loans individually evaluated for impairment | ' | ' | ' |
Allowance individually evaluated for impairment | 721 | 10,481 | 1,247 |
Balance individually evaluated for impairment | 19,848 | 1,323,425 | 20,368 |
Loans collectively evaluated for impairment | ' | ' | ' |
Allowance collectively evaluated for impairment | 11,284 | 1,222 | 9,548 |
Balance collectively evaluated for impairment | 1,506,684 | 16,657 | 1,166,601 |
Total allowance | 12,005 | 11,703 | 10,795 |
Total balance | 1,526,532 | 1,340,082 | 1,186,969 |
Consumer And Other Member | ' | ' | ' |
Loans individually evaluated for impairment | ' | ' | ' |
Allowance individually evaluated for impairment | ' | 28 | ' |
Balance individually evaluated for impairment | ' | 12,556 | ' |
Loans collectively evaluated for impairment | ' | ' | ' |
Allowance collectively evaluated for impairment | 29 | ' | 57 |
Balance collectively evaluated for impairment | 14,555 | ' | 17,699 |
Total allowance | 29 | 28 | 57 |
Total balance | $14,555 | $12,556 | $17,699 |
Note_5_Loans_Details_Allowance1
Note 5 - Loans (Details) - Allowance for Loan Losses by Portfolio Segment (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Provision for possible credit losses | ($2,122) | $10,668 | $10,385 |
Charge-offs | -20,442 | -32,791 | -77,626 |
Recoveries | 14,009 | 18,127 | 11,407 |
Commercial Loans Member | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning Balance | 66,101 | 65,658 | 63,918 |
Provision for possible credit losses | 11,888 | 16,201 | 11,711 |
Charge-offs | -15,625 | -17,707 | -11,745 |
Recoveries | 2,739 | 1,949 | 1,774 |
Net charge-offs | -12,886 | -15,758 | -9,971 |
Ending Balance | 65,103 | 66,101 | 65,658 |
Reserve for impaired loans | 2,519 | 1,467 | 3,336 |
Reserve for non-impaired loans | 62,584 | 64,634 | 62,322 |
Reserve for off-balance sheet credit commitments | 909 | 837 | 816 |
Real Estate Construction Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning Balance | 23,017 | 21,749 | 43,262 |
Provision for possible credit losses | -13,302 | -3,720 | 11,514 |
Charge-offs | ' | -1,165 | -37,500 |
Recoveries | 2,284 | 6,153 | 4,473 |
Net charge-offs | 2,284 | 4,988 | -33,027 |
Ending Balance | 11,999 | 23,017 | 21,749 |
Reserve for impaired loans | 3,460 | 8,158 | ' |
Reserve for non-impaired loans | 8,539 | 14,859 | 21,749 |
Reserve for off-balance sheet credit commitments | 304 | 390 | 1,103 |
Commercial Mortgage Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning Balance | 82,473 | 108,021 | 128,348 |
Provision for possible credit losses | -2,500 | -23,128 | 1,454 |
Charge-offs | -3,945 | -11,762 | -26,750 |
Recoveries | 8,725 | 9,342 | 4,969 |
Net charge-offs | 4,780 | -2,420 | -21,781 |
Ending Balance | 84,753 | 82,473 | 108,021 |
Reserve for impaired loans | 6,584 | 1,336 | 2,969 |
Reserve for non-impaired loans | 78,169 | 81,137 | 105,052 |
Reserve for off-balance sheet credit commitments | 111 | 98 | 113 |
Residential Mortgage And Equity Lines Member | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning Balance | 11,703 | 10,795 | 9,668 |
Provision for possible credit losses | 924 | 2,360 | 2,392 |
Charge-offs | -872 | -2,132 | -1,456 |
Recoveries | 250 | 680 | 191 |
Net charge-offs | -622 | -1,452 | -1,265 |
Ending Balance | 12,005 | 11,703 | 10,795 |
Reserve for impaired loans | 721 | 1,222 | 1,247 |
Reserve for non-impaired loans | 11,284 | 10,481 | 9,548 |
Reserve for off-balance sheet credit commitments | 34 | 34 | 34 |
Installment And Other Loans Member | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning Balance | 28 | 57 | 35 |
Provision for possible credit losses | -10 | -7 | 197 |
Charge-offs | ' | -25 | -175 |
Recoveries | 11 | 3 | ' |
Net charge-offs | 11 | -22 | -175 |
Ending Balance | 29 | 28 | 57 |
Reserve for impaired loans | ' | 0 | ' |
Reserve for non-impaired loans | 29 | 28 | 57 |
Reserve for off-balance sheet credit commitments | 1 | 3 | 3 |
Total [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning Balance | 183,322 | 206,280 | 245,231 |
Provision for possible credit losses | -3,000 | -8,294 | 27,268 |
Charge-offs | -20,442 | -32,791 | -77,626 |
Recoveries | 14,009 | 18,127 | 11,407 |
Net charge-offs | -6,433 | -14,664 | -66,219 |
Ending Balance | 173,889 | 183,322 | 206,280 |
Reserve for impaired loans | 13,284 | 12,183 | 7,552 |
Reserve for non-impaired loans | 160,605 | 171,139 | 198,728 |
Reserve for off-balance sheet credit commitments | $1,359 | $1,362 | $2,069 |
Note_5_Loans_Details_Activity_1
Note 5 - Loans (Details) - Activity in the Allowance for Credit Losses (USD $) | 3 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance for Loan Losses | ' | ' | ' | ' | ' | ' |
(Reversal)/provision for credit losses | ($3,000) | ($5,000) | ($4,000) | ($3,000) | ($9,000) | $27,000 |
Transfers from reserve for off-balance sheet credit commitments | ' | ' | ' | ' | 706 | 268 |
Loans charged off | ' | ' | ' | -20,442 | -32,791 | -77,626 |
Recoveries of charged off loans | ' | ' | ' | 14,009 | 18,127 | 11,407 |
Reserve for Off-Balance Sheet Credit Commitments [Member] | ' | ' | ' | ' | ' | ' |
Allowance for Loan Losses | ' | ' | ' | ' | ' | ' |
(Reversal)/provision for credit losses | ' | ' | ' | ' | -706 | -268 |
Reserve for Off-Balance Sheet Credit Commitments [Member] | Beginning of Period [Member] | ' | ' | ' | ' | ' | ' |
Allowance for Loan Losses | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | ' | 1,363 | 2,069 | 2,337 |
Reserve for Off-Balance Sheet Credit Commitments [Member] | End of Period [Member] | ' | ' | ' | ' | ' | ' |
Allowance for Loan Losses | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | ' | 1,363 | 1,363 | 2,069 |
Beginning of Period [Member] | ' | ' | ' | ' | ' | ' |
Allowance for Loan Losses | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | ' | 183,322 | 206,280 | 245,231 |
End of Period [Member] | ' | ' | ' | ' | ' | ' |
Allowance for Loan Losses | ' | ' | ' | ' | ' | ' |
Balance | ' | ' | ' | $173,889 | $183,322 | $206,280 |
Note_6_Other_Real_Estate_Owned2
Note 6 - Other Real Estate Owned (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Other Real Estate, Period Increase (Decrease) | $6,600,000 | ' |
Percentage Of Value Increased Other Real Estate Owned | 14.20% | ' |
Real Estate Acquired Through Foreclosure | 53,000,000 | 46,400,000 |
Residential Land [Member] | CALIFORNIA | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 9,000,000 | 9,100,000 |
Number of Real Estate Properties | 8 | 6 |
Residential Land [Member] | TEXAS | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 12,700,000 | 12,600,000 |
Number of Real Estate Properties | 6 | 4 |
Residential Land [Member] | WASHINGTON | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 667,000 | 733,000 |
Number of Real Estate Properties | ' | 1 |
Residential Land [Member] | ILLINOIS | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 202,000 | ' |
Number of Real Estate Properties | 1 | ' |
Commercial Use Building [Member] | CALIFORNIA | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 564,000 | ' |
Number of Real Estate Properties | 3 | ' |
Commercial Use Building [Member] | TEXAS | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | ' | 14,400,000 |
Commercial Use Building [Member] | WASHINGTON | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 5,800,000 | ' |
Commercial Use Building [Member] | NEW YORK | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 893,000 | ' |
Number of Real Estate Properties | 1 | ' |
Commercial Use Building [Member] | NORTH CAROLINA | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 4,100,000 | ' |
Commercial Use Building [Member] | ILLINOIS | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 639,000 | ' |
Number of Real Estate Properties | 2 | ' |
Commercial Use Building [Member] | California [Member] | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | ' | 1,700,000 |
Commercial Construction Loans [Member] | CALIFORNIA | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 635,000 | 740,000 |
Number of Real Estate Properties | 3 | 1 |
Commercial Construction Loans [Member] | TEXAS | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 1,300,000 | 1,300,000 |
Number of Real Estate Properties | 4 | 2 |
Commercial Construction Loans [Member] | WASHINGTON | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | ' | 870,000 |
Number of Real Estate Properties | ' | 1 |
Residential Construction [Member] | CALIFORNIA | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 530,000 | 530,000 |
Number of Real Estate Properties | 1 | 1 |
Commercial Land [Member] | CALIFORNIA | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 235,000 | ' |
Number of Real Estate Properties | 1 | ' |
Office And Commercial Use Building Member | CALIFORNIA | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Number of Real Estate Properties | ' | 3 |
Office And Commercial Use Building Member | TEXAS | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 12,500,000 | ' |
Number of Real Estate Properties | 3 | 4 |
Office And Commercial Use Building Member | WASHINGTON | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Number of Real Estate Properties | 1 | ' |
Nonresidential Land [Member] | TEXAS | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | ' | 1,100,000 |
Number of Real Estate Properties | 766,000 | 1 |
Nonresidential Land [Member] | WASHINGTON | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Number of Real Estate Properties | 3 | ' |
Condominium [Member] | ILLINOIS | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 2,400,000 | ' |
Number of Real Estate Properties | 1 | ' |
Single Family Residential Loan Member | CALIFORNIA | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | ' | 179,000 |
Number of Real Estate Properties | ' | 1 |
Single Family Residential Loan Member | TEXAS | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | ' | 169,000 |
Number of Real Estate Properties | ' | 1 |
CALIFORNIA | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 10,900,000 | 12,200,000 |
TEXAS | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 27,300,000 | 29,600,000 |
WASHINGTON | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 6,500,000 | 1,600,000 |
NEW YORK | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | ' | 1,200,000 |
NORTH CAROLINA | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Number of Real Estate Properties | 1 | ' |
ILLINOIS | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | 3,300,000 | ' |
NEVADA | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | ' | 1,100,000 |
All Other States [Member] | ' | ' |
Note 6 - Other Real Estate Owned (Details) [Line Items] | ' | ' |
Real Estate Acquired Through Foreclosure | ' | $752,000 |
Note_6_Other_Real_Estate_Owned3
Note 6 - Other Real Estate Owned (Details) - Activity in the Valuation Allowance for Other Real Estate Losses (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Activity in the Valuation Allowance for Other Real Estate Losses [Abstract] | ' | ' | ' |
Balance, beginning of year | $19,556 | $26,422 | $25,310 |
(Reversal)/provision for losses | -2,122 | 10,668 | 10,385 |
OREO disposal | -4,050 | -17,534 | -9,273 |
Balance, end of year | $13,384 | $19,556 | $26,422 |
Note_6_Other_Real_Estate_Owned4
Note 6 - Other Real Estate Owned (Details) - Other Real Estate Owned Expense (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Real Estate Owned Expense [Abstract] | ' | ' | ' |
Operating expense | $3,680 | $4,817 | $5,441 |
(Reversal)/provision for losses | -2,122 | 10,668 | 10,385 |
Net gain on transfers and disposals | -1,793 | -369 | -5,243 |
Total other real estate owned expense | ($235) | $15,116 | $10,583 |
Note_7_Investments_in_Affordab1
Note 7 - Investments in Affordable Housing (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 7 - Investments in Affordable Housing (Details) [Line Items] | ' | ' | ' |
Affordable Housing Investments | $84,108,000 | $85,037,000 | ' |
Number of Limited Partnerships in Housing Investments | 6 | 6 | ' |
Increase In Total Assets And Liabilities From Consolidating Affordable Housing Equity Interest | 23,800,000 | 22,900,000 | ' |
Other Borrowings From Consolidating Affordable Housing Equity Interest | 19,100,000 | 18,700,000 | ' |
Other Liabilities From Affordable Housing Unfunded Commitments | 7,000,000 | 10,600,000 | ' |
Minimum Compliance Period, Tax Credits, Investments In Affordable Housing | '15 years | ' | ' |
Effective Income Tax Rate Reconciliation, Tax Credit, Investment, Amount | 9,800,000 | 9,200,000 | 9,500,000 |
Federal Tax [Member] | Affordable Housing Limited Partnerships [Member] | ' | ' | ' |
Note 7 - Investments in Affordable Housing (Details) [Line Items] | ' | ' | ' |
Tax Credit Carryforward, Amount | 41,800,000 | ' | ' |
State and Local Jurisdiction [Member] | Affordable Housing Limited Partnerships [Member] | ' | ' | ' |
Note 7 - Investments in Affordable Housing (Details) [Line Items] | ' | ' | ' |
Tax Credit Carryforward, Amount | $1,600,000 | ' | ' |
Note_8_Premises_and_Equipment_1
Note 8 - Premises and Equipment (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Abstract] | ' | ' | ' |
Depreciation, Amortization and Accretion, Net | $6.90 | $5.90 | $6.10 |
Note_8_Premises_and_Equipment_2
Note 8 - Premises and Equipment (Details) - Premises and Equipment (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment gross | $165,388 | $159,282 |
Less: Accumulated depreciation/amortization | 63,343 | 56,669 |
Premises and equipment, net | 102,045 | 102,613 |
Land and Land Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment gross | 33,441 | 33,429 |
Building and Building Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment gross | 73,756 | 73,723 |
Furniture, Fixtures, and Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment gross | 44,278 | 39,701 |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment gross | 12,753 | 12,391 |
Construction in Progress [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property plant and equipment gross | $1,160 | $38 |
Note_9_Deposits_Details
Note 9 - Deposits (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Disclosure Text Block [Abstract] | ' | ' | ' |
Accrued Interest Payable on Customer Deposits | $2 | $2.10 | $4.20 |
Note_9_Deposits_Details_Deposi
Note 9 - Deposits (Details) - Deposit Balances (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deposit Balances [Abstract] | ' | ' |
Demand | $1,441,858 | $1,269,455 |
NOW accounts | 683,873 | 593,133 |
Money market accounts | 1,286,338 | 1,186,771 |
Saving accounts | 499,520 | 473,805 |
Time deposits under $100,000 | 931,204 | 644,191 |
Time deposits of $100,000 or more | 3,138,512 | 3,215,870 |
Total | $7,981,305 | $7,383,225 |
Note_9_Deposits_Details_Time_D
Note 9 - Deposits (Details) - Time Deposit Maturities (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Other Time Deposits [Member] | ' |
Note 9 - Deposits (Details) - Time Deposit Maturities [Line Items] | ' |
2014 | $574,695 |
2015 | 118,913 |
2016 | 84,653 |
2017 | 36,734 |
2018 | 116,198 |
Thereafter | 11 |
Total | 931,204 |
Total Time Deposits [Member] | ' |
Note 9 - Deposits (Details) - Time Deposit Maturities [Line Items] | ' |
2014 | 3,425,745 |
2015 | 259,886 |
2016 | 154,706 |
2017 | 57,601 |
2018 | 171,767 |
Thereafter | 11 |
Total | 4,069,716 |
Time Deposits, $100,000 and Over [Member] | ' |
Note 9 - Deposits (Details) - Time Deposit Maturities [Line Items] | ' |
2014 | 2,851,050 |
2015 | 140,973 |
2016 | 70,053 |
2017 | 20,867 |
2018 | 55,569 |
Total | $3,138,512 |
Note_9_Deposits_Details_Intere
Note 9 - Deposits (Details) - Interest Expense on Time Deposits (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest Expense on Time Deposits [Abstract] | ' | ' | ' |
Interest bearing demand | $1,017 | $792 | $756 |
Money market accounts | 7,034 | 5,938 | 7,351 |
Saving accounts | 374 | 365 | 482 |
Time deposits | 31,964 | 40,278 | 53,625 |
Total | $40,389 | $47,373 | $62,214 |
Note_10_Borrowed_Funds_Details
Note 10 - Borrowed Funds (Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | |||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2005 | Dec. 31, 2004 | 31-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | |
Federal Funds Purchased [Member] | Securities Sold under Agreements to Repurchase [Member] | Securities Sold under Agreements to Repurchase [Member] | Securities Sold under Agreements to Repurchase [Member] | Terms Modified in Current Year [Member] | Floating to Fixed Rate Agreements Totaling $400 Million [Member] | Floating to Fixed Rate Agreements Totaling $400 Million [Member] | Floating to Fixed Rate Agreements Totaling $400 Million [Member] | Federal Home Loan Bank Advances [Member] | Federal Home Loan Bank Advances [Member] | Floating to Fixed Rate Agreements Totaling $400 Million [Member] | Callable Securities [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | |||||||
Minimum [Member] | Maximum [Member] | ||||||||||||||||||||
Note 10 - Borrowed Funds (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal Funds Purchased | $0 | $0 | $27,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | 1.29% | ' | ' | ' | ' | ' | 4.78% | 5.07% | ' | ' | ' | ' | 8.00% | 8.00% | ' |
Securities Sold under Agreements to Repurchase | 800,000,000 | 1,250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 200,000,000 | ' | ' | ' | ' | ' | ' | 600,000,000 | ' | ' | ' |
' | ' | ' | ' | ' | ' | ' | 3.87% | 3.84% | 4.14% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Prepaid Security Sold Under Repurchase Agreement | 450,000,000 | 150,000,000 | ' | ' | ' | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rate of Prepaid Security Sold Under Repurchase Agreements | 3.79% | 4.43% | ' | ' | ' | 4.83% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepayment Penalty Security Sold Under Agreements To Repurchase | 22,600,000 | 9,400,000 | ' | ' | ' | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average Rate Reduction on Modified Repurchase Agreements (in Basis Points) | ' | 1.68% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number Of Floating-To-Fixed Rate Agreements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Floating To Fixed Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Floating Interest Rate, Range of Time Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | '1 year |
LIBOR Minus Hundred Basis Point | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR rate minus 200 | ' | ' | ' | ' |
LIBOR Minus Three Hundred and Forty Basis Points | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'LIBOR rate minus 340 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number Of Fixed-To-Floating Security Sold Under Agreements To Repurchase | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Fixed To Floating Rate Agreements | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum Initial Fixed Rate | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Initial Fixed Rate | 3.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fixed Interest Rate, Range of Time Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 years | ' | '12 months |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.50% | ' | 3.75% |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment Securities Pledged As Collateral | ' | ' | ' | ' | ' | ' | ' | 906,100,000 | 1,400,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Advances from Federal Home Loan Bank | 521,200,000 | 146,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Weighted Average Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.17% | 0.44% | ' | ' | ' | ' | ' |
Federal Home Loan Bank Prepaid Advances | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Rate for Prepaying Federal Home Loan Bank Advances | ' | 4.60% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepayment Fees on Advances, Net | ' | 2,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Threshold for Deferred Bonus | ' | ' | ' | 225,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
AmountOfDeferredBonusAccruedInOtherLiabilities | ' | ' | ' | ' | 610,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued Interest On Deferred Bonus | ' | 7.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Basis Spread (in Basis Points) | ' | 2.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Expense, Other | 77,000 | 71,000 | 67,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued Bonuses | $1,100,000 | $1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_10_Borrowed_Funds_Details1
Note 10 - Borrowed Funds (Details) - Callable Securities Sold Under Agreements to Repurchase (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Note 10 - Borrowed Funds (Details) - Callable Securities Sold Under Agreements to Repurchase [Line Items] | ' |
No. of agreements | 4 |
Amount (in Dollars) | $200,000 |
Weighted average rate | 2.78% |
Callable [Member] | Fixed to Floating One Hundred and Fifty Million With Three Agreements At Three Point Seven Nine Percent [Member] | ' |
Note 10 - Borrowed Funds (Details) - Callable Securities Sold Under Agreements to Repurchase [Line Items] | ' |
Maximum rate | 3.75% |
Minimum rate | 0.00% |
No. of agreements | 1 |
Amount (in Dollars) | 50,000 |
Weighted average rate | 3.75% |
Final maturity | 2,014 |
Callable [Member] | Fixed To Floating Fifty Million With One Agreement At Three Point Five Three Percent Member | ' |
Note 10 - Borrowed Funds (Details) - Callable Securities Sold Under Agreements to Repurchase [Line Items] | ' |
Maximum rate | 3.50% |
Minimum rate | 0.00% |
No. of agreements | 2 |
Amount (in Dollars) | 100,000 |
Weighted average rate | 3.50% |
Final maturity | 2,014 |
Callable [Member] | Fixed to Floating 3.5% With Four Agreements [Member] | ' |
Note 10 - Borrowed Funds (Details) - Callable Securities Sold Under Agreements to Repurchase [Line Items] | ' |
Maximum rate | 3.50% |
Minimum rate | 0.00% |
No. of agreements | 3 |
Amount (in Dollars) | 150,000 |
Weighted average rate | 3.50% |
Final maturity | 2,015 |
Callable [Member] | Fixed To Floating One Hundred And Fifty Million With Three Agreements At Three Point Five Percent Member | ' |
Note 10 - Borrowed Funds (Details) - Callable Securities Sold Under Agreements to Repurchase [Line Items] | ' |
Final maturity | 2,014 |
Callable [Member] | Fixed to Floating Fifty Million at Three Point Five Three Percent Maturing in 2015 [Member] | ' |
Note 10 - Borrowed Funds (Details) - Callable Securities Sold Under Agreements to Repurchase [Line Items] | ' |
No. of agreements | 1 |
Amount (in Dollars) | 100,000 |
Weighted average rate | 4.78% |
Callable [Member] | Fixed to Floating At 3.25% [Member] | ' |
Note 10 - Borrowed Funds (Details) - Callable Securities Sold Under Agreements to Repurchase [Line Items] | ' |
Final maturity | 2,017 |
Callable [Member] | Floating To Fixed Two Hundred Million Member | ' |
Note 10 - Borrowed Funds (Details) - Callable Securities Sold Under Agreements to Repurchase [Line Items] | ' |
No. of agreements | 4 |
Amount (in Dollars) | 200,000 |
Weighted average rate | 5.00% |
Callable [Member] | Floating to Fixed Rate Two Hundred Million at 5% [Member] | ' |
Note 10 - Borrowed Funds (Details) - Callable Securities Sold Under Agreements to Repurchase [Line Items] | ' |
No. of agreements | 11 |
Amount (in Dollars) | $600,000 |
Weighted average rate | 4.24% |
Note_10_Borrowed_Funds_Details2
Note 10 - Borrowed Funds (Details) - Securities Sold Under Agreements to Repurchase (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Note 10 - Borrowed Funds (Details) - Securities Sold Under Agreements to Repurchase [Line Items] | ' |
No. of Agreements | 4 |
Amount (In thousands) (in Dollars) | $200,000 |
Weighted Average Interest Rate | 2.78% |
Maturing in One to Three Years [Member] | ' |
Note 10 - Borrowed Funds (Details) - Securities Sold Under Agreements to Repurchase [Line Items] | ' |
No. of Agreements | 1 |
Amount (In thousands) (in Dollars) | 50,000 |
Weighted Average Interest Rate | 2.69% |
Maturing in Three to Five Years [Member] | ' |
Note 10 - Borrowed Funds (Details) - Securities Sold Under Agreements to Repurchase [Line Items] | ' |
No. of Agreements | 3 |
Amount (In thousands) (in Dollars) | $150,000 |
Weighted Average Interest Rate | 2.81% |
Note_10_Borrowed_Funds_Details3
Note 10 - Borrowed Funds (Details) - Comparative Data for Securities Sold Under Agreements to Repurchase (Securities Sold under Agreements to Repurchase [Member], USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Securities Sold under Agreements to Repurchase [Member] | ' | ' | ' | |||
Note 10 - Borrowed Funds (Details) - Comparative Data for Securities Sold Under Agreements to Repurchase [Line Items] | ' | ' | ' | |||
Average amount outstanding during the year (1) | $972,329 | [1] | $1,361,475 | [1] | $1,448,363 | [1] |
Maximum amount outstanding at month-end (2) | 1,200,000 | [2] | 1,400,000 | [2] | 1,559,000 | [2] |
Balance, December 31 | $800,000 | $1,250,000 | $1,400,000 | |||
Rate, December 31 | 3.87% | 3.84% | 4.14% | |||
Weighted average interest rate for the year | 3.88% | 4.09% | 4.19% | |||
[1] | Average balances were computed using daily averages. | |||||
[2] | Highest month-end balances were January 2013, January 2012, and January 2011. |
Note_10_Borrowed_Funds_Details4
Note 10 - Borrowed Funds (Details) - Outstanding Advances (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Outstanding Advances [Abstract] | ' | ' |
Within 90 days (in Dollars) | $475,000 | $125,000 |
Within 90 days | 0.06% | 0.28% |
4 - 5 years (in Dollars) | 46,200 | 21,200 |
4 - 5 years | 1.24% | 1.38% |
(in Dollars) | $521,200 | $146,200 |
0.17% | 0.44% |
Note_11_Capital_Resources_Deta
Note 11 - Capital Resources (Details) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | ||||||
Dec. 09, 2013 | Dec. 05, 2008 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 29, 2006 | Mar. 31, 2011 | Sep. 29, 2006 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 05, 2008 | Dec. 31, 2013 | Dec. 05, 2008 | Dec. 05, 2008 | |
Subordinated Debt Obligations [Member] | Subordinated Debt Obligations [Member] | Subordinated Debt Obligations [Member] | Subordinated Debt Obligations [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | First Five Years [Member] | After Five Years [Member] | ||||||||
Note 11 - Capital Resources (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Preferred Stock and Preference Stock | ' | $258,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $258,000,000 | ' | ' | ' |
Preferred Stock, Dividend Rate, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 9.00% |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | ' | 1,846,374 | 1,846,374 | 1,846,374 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per Item) | ' | 20.96 | 20.96 | 20.96 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants and Rights Outstanding | ' | ' | 38,700,000 | 38,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent Of Senior Preferred Stock Invested | ' | ' | 15.00% | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Redeemed or Called During Period, Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 258,000,000 | ' | ' |
Sale Of Warrant Consideration Received On Transaction | 13,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of Warrants, Price Per Share (in Dollars per share) | $7.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Subordinated Debt | ' | ' | ' | ' | ' | ' | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Term | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate (in Basis Points) | ' | ' | ' | ' | ' | ' | ' | 1.10% | 1.10% | 3.30% | 1.10% | ' | ' | ' | ' |
Debt, Weighted Average Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.61% | ' | ' | ' | ' |
Subordinated Debt Prepayment Penalty | ' | ' | 2,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Expense, Subordinated Notes and Debentures | ' | ' | ' | $3,000,000 | $3,200,000 | $3,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_11_Capital_Resources_Deta1
Note 11 - Capital Resources (Details) - Outstanding Junior Subordinated Notes (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Subordinated Borrowing [Line Items] | ' |
Principal Balance of Notes (in Dollars) | $121,136 |
Cathay Capital Trust I [Member] | ' |
Subordinated Borrowing [Line Items] | ' |
Issuance Date | 26-Jun-03 |
Principal Balance of Notes (in Dollars) | 20,619 |
Not Redeemable Until | 30-Jun-08 |
Stated Maturity | 30-Jun-33 |
Annualized Coupon Rate | '3-month LIBOR + 3.15% |
Current Interest Rate | 3.40% |
Date of Rate Change | 30-Dec-13 |
Payable/ Distribution Date | 'March 30 June 30 September 30 December 30 |
Cathay Statutory Trust I [Member] | ' |
Subordinated Borrowing [Line Items] | ' |
Issuance Date | 17-Sep-03 |
Principal Balance of Notes (in Dollars) | 20,619 |
Not Redeemable Until | 17-Sep-08 |
Stated Maturity | 17-Sep-33 |
Annualized Coupon Rate | '3-month LIBOR + 3.00% |
Current Interest Rate | 3.24% |
Date of Rate Change | 17-Dec-13 |
Payable/ Distribution Date | 'March 17 June 17 September 17 December 17 |
Cathay Capital Trust II [Member] | ' |
Subordinated Borrowing [Line Items] | ' |
Issuance Date | 30-Dec-03 |
Principal Balance of Notes (in Dollars) | 12,887 |
Not Redeemable Until | 30-Mar-09 |
Stated Maturity | 30-Mar-34 |
Annualized Coupon Rate | '3-month LIBOR + 2.90% |
Current Interest Rate | 3.15% |
Date of Rate Change | 30-Dec-13 |
Payable/ Distribution Date | 'March 30 June 30 September 30 December 30 |
Cathay Capital Trust III [Member] | ' |
Subordinated Borrowing [Line Items] | ' |
Issuance Date | 28-Mar-07 |
Principal Balance of Notes (in Dollars) | 46,392 |
Not Redeemable Until | 15-Jun-12 |
Stated Maturity | 15-Jun-37 |
Annualized Coupon Rate | '3-month LIBOR + 1.48% |
Current Interest Rate | 1.72% |
Date of Rate Change | 16-Dec-13 |
Payable/ Distribution Date | 'March 15 June 15 September 15 December 15 |
Cathay Capital Trust IV [Member] | ' |
Subordinated Borrowing [Line Items] | ' |
Issuance Date | 31-May-07 |
Principal Balance of Notes (in Dollars) | $20,619 |
Not Redeemable Until | 6-Sep-12 |
Stated Maturity | 6-Sep-37 |
Annualized Coupon Rate | '3-month LIBOR 1.40% |
Current Interest Rate | 1.64% |
Date of Rate Change | 6-Dec-13 |
Payable/ Distribution Date | 'March 6 June 6 September 6 December 6 |
Note_12_Income_Taxes_Details
Note 12 - Income Taxes (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | ' | $1,300,000 | ' |
Income Taxes Receivable | ' | 8,600,000 | 12,400,000 |
Operating Loss Carryforwards | ' | 1,100,000 | ' |
Unrecognized Tax Benefits | ' | 0 | 0 |
Unrecognized Tax Benefits, Period Increase (Decrease) | 100,000 | ' | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | ' | $100,000 | $100,000 |
Note_12_Income_Taxes_Details_C
Note 12 - Income Taxes (Details) - Components of Income Tax Expense (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal | ' | ' | ' | ' | ' | ' | ' | ' | $62,254 | $44,263 | $26,548 |
State | ' | ' | ' | ' | ' | ' | ' | ' | 23,295 | 17,081 | 10,905 |
' | ' | ' | ' | ' | ' | ' | ' | 85,549 | 61,344 | 37,453 | |
Deferred: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal | ' | ' | ' | ' | ' | ' | ' | ' | -11,162 | 3,755 | 10,133 |
State | ' | ' | ' | ' | ' | ' | ' | ' | -3,952 | 1,029 | 3,675 |
' | ' | ' | ' | ' | ' | ' | ' | -15,114 | 4,784 | 13,808 | |
Total income tax expense/(benefit) | $17,946 | $19,029 | $16,573 | $16,887 | $15,276 | $17,686 | $16,619 | $16,547 | $70,435 | $66,128 | $51,261 |
Note_12_Income_Taxes_Details_D
Note 12 - Income Taxes (Details) - Deferred Tax Assets and Liabilities (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred Tax Assets | ' | ' |
Loan loss allowance, due to differences in computation of bad debts | $89,560 | $100,774 |
Write-down on equity securities and venture capital investments | 2,857 | 3,374 |
Share-based compensation | 13,573 | 16,120 |
State tax | 6,493 | 4,479 |
Non-accrual interest | 3,968 | 3,208 |
Write-down on other real estate owned | 8,595 | 10,302 |
Accrual for bonuses | 3,380 | 432 |
Accrual for litigation | 2,415 | 2,415 |
Unrealized loss on interest rate swaps | ' | 175 |
Unrealized loss on securities available-for-sale, net | 21,569 | ' |
Other, net | 4,214 | 2,937 |
Gross deferred tax assets | 156,624 | 144,216 |
Deferred Tax Liabilities | ' | ' |
Core deposit intangibles | ' | -1,632 |
Investment in aircraft financing trust and venture capital partnerships | ' | -19,684 |
Unrealized gain on securities available-for-sale, net | ' | -338 |
Basis difference in acquired assets | -3,138 | -3,145 |
Dividends on Federal Home Loan Bank common stock | -2,986 | -3,071 |
Other, net | -2,773 | -1,939 |
Gross deferred tax liabilities | -8,897 | -29,809 |
Valuation allowance | -1,263 | -2,125 |
Net deferred tax assets | $146,464 | $112,282 |
Note_12_Income_Taxes_Details_I
Note 12 - Income Taxes (Details) - Income Tax Reconciliation (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Reconciliation [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax provision at Federal statutory rate (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | $67,752 | $64,248 | $52,994 |
Tax provision at Federal statutory rate | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | 35.00% | 35.00% |
State income taxes, net of Federal income tax benefit (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | 12,573 | 11,772 | 9,477 |
State income taxes, net of Federal income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | 6.50% | 6.40% | 6.30% |
Interest on obligations of state and political subdivisions, which are exempt from Federal taxation (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | -348 | -1,456 | -1,476 |
Interest on obligations of state and political subdivisions, which are exempt from Federal taxation | ' | ' | ' | ' | ' | ' | ' | ' | -0.20% | -0.80% | -1.00% |
Low income housing and other tax credits (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | -10,056 | -9,353 | -10,087 |
Low income housing and other tax credits | ' | ' | ' | ' | ' | ' | ' | ' | -5.20% | -5.10% | -6.60% |
Other, net (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | 514 | 917 | 353 |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | 0.30% | 0.50% | 0.20% |
Total income tax expense/(benefit) (in Dollars) | $17,946 | $19,029 | $16,573 | $16,887 | $15,276 | $17,686 | $16,619 | $16,547 | $70,435 | $66,128 | $51,261 |
Total income tax expense/(benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 36.40% | 36.00% | 33.90% |
Note_13_Stockholders_Equity_an2
Note 13 - Stockholders' Equity and Earnings per Share (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | 24 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||||||||||
Dec. 09, 2013 | Dec. 05, 2008 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2004 | Dec. 05, 2008 | Dec. 31, 2013 | Dec. 05, 2008 | Dec. 05, 2008 | |
Equity Option [Member] | Equity Option [Member] | Warrant [Member] | Series A Non-Cumulative Preferred Stock [Member] | Series A Non-Cumulative Preferred Stock [Member] | Series A Non-Cumulative Preferred Stock [Member] | Series A Non-Cumulative Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | Series B Preferred Stock [Member] | |||||||||||||
First Five Years [Member] | After Five Years [Member] | ||||||||||||||||||||||
Note 13 - Stockholders' Equity and Earnings per Share (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Regulation Restricted On Amount Of Retained Earnings Available For Cash Dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | $54,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Preferred Stock and Preference Stock | ' | 258,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,600,000 | 258,000,000 | ' | ' | ' |
Preferred Stock, Dividend Rate, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.00% | ' | ' | 5.00% | 9.00% |
Dividends, Preferred Stock | ' | ' | -2,434,000 | -2,067,000 | -5,184,000 | -4,127,000 | -4,123,000 | -4,121,000 | -4,117,000 | 9,685,000 | 16,488,000 | 16,437,000 | ' | ' | ' | 605,000 | 605,000 | 605,000 | ' | ' | ' | ' | ' |
Preferred Stock, Shares Issued (in Shares) | ' | ' | ' | ' | ' | 258,000 | ' | ' | ' | ' | 258,000 | ' | ' | ' | ' | ' | ' | ' | ' | 258,000 | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | ' | 1,846,374 | ' | ' | ' | ' | ' | ' | ' | 1,846,374 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per Item) | ' | 20.96 | ' | ' | ' | ' | ' | ' | ' | 20.96 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants Aggregate Market Price (in Dollars per share) | ' | $38,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Redeemed or Called During Period, Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 258,000,000 | ' | ' |
Sale Of Warrant Consideration Received On Transaction | $13,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of Warrants, Price Per Share (in Dollars per share) | $7.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,200,000 | 4,000,000 | 1,800,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Note_13_Stockholders_Equity_an3
Note 13 - Stockholders' Equity and Earnings per Share (Details) - Accumulated Other Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income [Abstract] | ' | ' | ' |
Beginning balance, net of tax | $465 | ' | ' |
Ending balance, net of tax | -29,729 | 465 | ' |
Net unrealized losses arising during the period | -117,515 | ' | ' |
Net unrealized losses arising during the period | -49,407 | ' | ' |
Net unrealized losses arising during the period | -68,108 | ' | ' |
Reclassification adjustment for net securities gains included in net income | 27,362 | ' | ' |
Reclassification adjustment for net securities gains included in net income | 11,503 | ' | ' |
Reclassification adjustment for net securities gains included in net income | 15,859 | 10,448 | 12,248 |
Net unrealized gains arising from transferring securities held-to-maturity to available-for-sale | 38,052 | ' | ' |
Net unrealized gains arising from transferring securities held-to-maturity to available-for-sale | 15,997 | ' | ' |
Net unrealized gains arising from transferring securities held-to-maturity to available-for-sale | 22,055 | ' | ' |
Total other comprehensive income | -52,101 | ' | ' |
Total other comprehensive income | -21,907 | ' | ' |
Total other comprehensive income | ($30,194) | $9,197 | ($7,710) |
Note_13_Stockholders_Equity_an4
Note 13 - Stockholders' Equity and Earnings per Share (Details) - Earnings per Share (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | $32,042 | $32,629 | $30,066 | $28,998 | $28,459 | $30,509 | $30,011 | $29,064 | $123,143 | $117,438 | $100,150 |
Dividends on preferred stock | ' | 2,434 | 2,067 | 5,184 | 4,127 | 4,123 | 4,121 | 4,117 | -9,685 | -16,488 | -16,437 |
Basic EPS, income/(loss) | 31,902 | 30,044 | 27,849 | 23,663 | 24,179 | 26,235 | 25,740 | 24,796 | 113,458 | 100,950 | 83,713 |
Basic EPS, income/(loss) (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | 78,954,898 | 78,719,133 | 78,633,317 |
Basic EPS, income/(loss) (in Dollars per share) | $0.40 | $0.38 | $0.35 | $0.30 | $0.31 | $0.33 | $0.33 | $0.32 | $1.44 | $1.28 | $1.06 |
Effect of dilutive stock options (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | 183,085 | 4,164 | 7,335 |
Diluted EPS, income/(loss) | ' | ' | ' | ' | ' | ' | ' | ' | $113,458 | $100,950 | $83,713 |
Diluted EPS, income/(loss) (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | 79,137,983 | 78,723,297 | 78,640,652 |
Diluted EPS, income/(loss) (in Dollars per share) | $0.40 | $0.38 | $0.35 | $0.30 | $0.31 | $0.33 | $0.33 | $0.32 | $1.43 | $1.28 | $1.06 |
Note_14_Commitments_and_Contin2
Note 14 - Commitments and Contingencies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ' |
Commitments To Extend Credit | $1,900,000,000 | ' | ' |
CommitmentsToFundFixedRateLoans | 107,000,000 | ' | ' |
Commitments To Fund Adjustable Rate Loans | 1,800,000,000 | ' | ' |
Operating Lease Lease Term Minimum | ' | '1 year | ' |
Operating Lease Lease Term Maximum | ' | '25 years | ' |
Operating Leases, Rent Expense | 7,700,000 | 7,400,000 | 6,700,000 |
Operating Leases, Income Statement, Sublease Revenue | $300,000 | $300,000 | $200,000 |
Note_14_Commitments_and_Contin3
Note 14 - Commitments and Contingencies (Details) - Financial Instruments with Off-Balance Sheet Risk (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Other Commitments | $1,957,905 | $1,856,285 |
Commitments to Extend Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Other Commitments | 1,858,669 | 1,740,463 |
Standby Letters of Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Other Commitments | 45,058 | 44,672 |
Commercial Letters of Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Other Commitments | 54,098 | 71,073 |
Bill Of Lading Guarantees Member | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Other Commitments | $80 | $77 |
Note_14_Commitments_and_Contin4
Note 14 - Commitments and Contingencies (Details) - Future Payments Under Operating Leases (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Future Payments Under Operating Leases [Abstract] | ' |
2014 | $5,745 |
2015 | 3,895 |
2016 | 2,930 |
2017 | 1,527 |
2018 | 1,015 |
Thereafter | 643 |
Total minimum lease payments | $15,755 |
Note_14_Commitments_and_Contin5
Note 14 - Commitments and Contingencies (Details) - Future Rental Income under Operating Leases (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Future Rental Income under Operating Leases [Abstract] | ' |
2014 | $121 |
2015 | 11 |
Total minimum lease payments to be received | $132 |
Note_15_Financial_Derivatives_
Note 15 - Financial Derivatives (Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Interest Rate Swap [Member] | Positive Fair Value Member | Positive Fair Value Member | Negative Fair Value Member | Negative Fair Value Member | |||
Note 15 - Financial Derivatives (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Number Of Swap Agreements | ' | ' | 5 | ' | ' | ' | ' |
Interest Rate Swaps Notional Amount | ' | ' | $300,000,000 | ' | ' | ' | ' |
Interest Rate Swap Term | ' | ' | '3 years | ' | ' | ' | ' |
Net Accrued On Interest Rate Swaps | 288,000 | 4,900,000 | ' | ' | ' | ' | ' |
Notional Amount Of Option Contract | ' | ' | ' | 200,000 | 209,000 | ' | ' |
Open Option Contracts Written, at Fair Value | ' | ' | ' | 83 | 2,000 | ' | ' |
Sum of Spot and Forward Contract Notional Amount | ' | ' | ' | 267,600,000 | 188,100,000 | 236,300,000 | 133,700,000 |
Increase Decrease in Fair Value | ' | ' | ' | $6,200,000 | $2,900,000 | $6,100,000 | $1,600,000 |
Note_16_Fair_Value_Measurement2
Note 16 - Fair Value Measurements (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Accounts Receivable Collateral [Member] | Inventory Collateral [Member] | Warrants Outstanding [Member] | Warrants Outstanding [Member] | Minimum [Member] | Maximum [Member] | |||
Minimum [Member] | Maximum [Member] | |||||||
Note 16 - Fair Value Measurements (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Warrants (in Dollars) | $30,000 | $104,000 | ' | ' | ' | ' | ' | ' |
Other Real Estate, Foreclosed Assets, and Repossessed Assets (in Dollars) | $52,985,000 | $46,384,000 | ' | ' | ' | ' | ' | ' |
Collateral Discount Rates | ' | ' | 45.00% | 65.00% | ' | ' | ' | ' |
Estimated Sales Cost Applied To Collateral | ' | ' | ' | ' | ' | ' | 3.00% | 6.00% |
Expected Life of Warrants | ' | ' | ' | ' | ' | ' | '1 year | '4 years |
Fair Value Assumptions, Risk Free Interest Rate | ' | ' | ' | ' | 0.39% | 1.25% | ' | ' |
Fair Value Assumptions, Expected Volatility Rate | ' | ' | ' | ' | 8.39% | 16.00% | ' | ' |
Note_16_Fair_Value_Measurement3
Note 16 - Fair Value Measurements (Details) - Assets and Liabilities Measured at Fair Value on a Recurring Basis (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | $1,586,668 | $1,291,480 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 465,917 | 526,165 |
Total Assets | 465,917 | 526,165 |
Liabilities | ' | ' |
Total Liabilities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 1,120,751 | 765,315 |
Total Assets | 1,131,869 | 772,942 |
Liabilities | ' | ' |
Total Liabilities | 6,140 | 1,588 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | ' | 0 |
Total Assets | 30 | 104 |
Liabilities | ' | ' |
Total Liabilities | 0 | 0 |
Estimate of Fair Value Measurement [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 1,586,668 | 1,291,480 |
Total Assets | 1,597,816 | 1,299,211 |
Liabilities | ' | ' |
Total Liabilities | 6,140 | 1,588 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 460,193 | 509,971 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | ' | 0 |
US Treasury Securities [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 460,193 | 509,971 |
US Treasury Securities [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 460,193 | 509,971 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 0 | 0 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 952,815 | 416,694 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 0 | 0 |
Collateralized Mortgage Backed Securities [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 952,815 | 416,694 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 952,814 | 416,694 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 0 | 0 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 6,106 | 10,168 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 0 | 0 |
Collateralized Mortgage Obligations [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 6,106 | 10,168 |
Collateralized Mortgage Obligations [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 6,106 | 10,168 |
Asset-backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 0 | 0 |
Asset-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 123 | 141 |
Asset-backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 0 | 0 |
Asset-backed Securities [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 123 | 141 |
Asset-backed Securities [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 123 | 141 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 0 | 0 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 150,304 | 335,977 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 0 | 0 |
Corporate Debt Securities [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 150,304 | 335,977 |
Corporate Debt Securities [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 150,304 | 335,977 |
Mutual Funds Member | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 5,724 | 6,079 |
Mutual Funds Member | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 0 | 0 |
Mutual Funds Member | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 0 | 0 |
Mutual Funds Member | Estimate of Fair Value Measurement [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 5,724 | 6,079 |
Mutual Funds Member | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 5,725 | 6,079 |
Preferred Stock Of Government Sponsored Entities Member | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 0 | 0 |
Preferred Stock Of Government Sponsored Entities Member | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 11,403 | 2,335 |
Preferred Stock Of Government Sponsored Entities Member | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 0 | 0 |
Preferred Stock Of Government Sponsored Entities Member | Estimate of Fair Value Measurement [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 11,403 | 2,335 |
Preferred Stock Of Government Sponsored Entities Member | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 11,403 | 2,335 |
Trust Preferred Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 465,917 | 10,115 |
Trust Preferred Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 1,120,751 | 0 |
Trust Preferred Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 0 | 0 |
Trust Preferred Securities [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | 1,586,668 | 10,115 |
Trust Preferred Securities [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Securities Available-for-Sale | ' | 10,115 |
Trading Securities Member | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 0 | ' |
Trading Securities Member | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 4,936 | 4,703 |
Trading Securities Member | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 0 | 0 |
Trading Securities Member | Estimate of Fair Value Measurement [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 4,936 | 4,703 |
Warrant [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 0 | 0 |
Warrant [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 0 | 0 |
Warrant [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 30 | 104 |
Warrant [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 30 | 104 |
Option Contracts Member | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 0 | 0 |
Liabilities | ' | ' |
Total Liabilities | ' | 0 |
Option Contracts Member | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 0 | 0 |
Liabilities | ' | ' |
Total Liabilities | ' | 2 |
Option Contracts Member | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 0 | 0 |
Liabilities | ' | ' |
Total Liabilities | ' | 0 |
Option Contracts Member | Estimate of Fair Value Measurement [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 0 | 0 |
Liabilities | ' | ' |
Total Liabilities | ' | 2 |
Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 0 | 0 |
Liabilities | ' | ' |
Total Liabilities | 0 | 0 |
Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 6,182 | 2,924 |
Liabilities | ' | ' |
Total Liabilities | 6,140 | 1,586 |
Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 0 | 0 |
Liabilities | ' | ' |
Total Liabilities | 0 | 0 |
Foreign Exchange Contract [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 6,182 | 2,924 |
Liabilities | ' | ' |
Total Liabilities | $6,140 | $1,586 |
Note_16_Fair_Value_Measurement4
Note 16 - Fair Value Measurements (Details) - Financial Asset and Liabilities Measured on a Non-Recurring Basis (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | ||||||||||||
In Thousands, unless otherwise specified | Commercial Loans Member | Commercial Loans Member | Commercial Loans Member | Commercial Loans Member | Commercial Loans Member | Commercial Loans Member | Commercial Mortgage Loans [Member] | Commercial Mortgage Loans [Member] | Commercial Mortgage Loans [Member] | Commercial Mortgage Loans [Member] | Commercial Mortgage Loans [Member] | Commercial Mortgage Loans [Member] | Commercial Mortgage Loans [Member] | Construction Residential Member | Construction Residential Member | Construction Residential Member | Construction Residential Member | Construction - Other Loans [Member] | Construction - Other Loans [Member] | Construction - Other Loans [Member] | Construction - Other Loans [Member] | Construction - Other Loans [Member] | Construction - Other Loans [Member] | Residential Mortgage And Equity Lines Member | Residential Mortgage And Equity Lines Member | Residential Mortgage And Equity Lines Member | Residential Mortgage And Equity Lines Member | Residential Mortgage And Equity Lines Member | Residential Mortgage And Equity Lines Member | Residential Mortgage And Equity Lines Member | Residential Mortgage And Equity Lines Member | Land Loans Member | Land Loans Member | Land Loans Member | Land Loans Member | Land Loans Member | Land Loans Member | Land Loans Member | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | Other Real Estate Owned [Member] | Investments in Venture Capital [Member] | Investments in Venture Capital [Member] | Investments in Venture Capital [Member] | Investments in Venture Capital [Member] | Investments in Venture Capital [Member] | Investments in Venture Capital [Member] | Investments in Venture Capital [Member] | Investments in Venture Capital [Member] | Equity Investments [Member] | Equity Investments [Member] | Equity Investments [Member] | Equity Investments [Member] | Equity Investments [Member] | Equity Investments [Member] | Equity Investments [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Estimate of Fair Value Measurement [Member] | Current Period [Member] | Prior Year [Member] | Current Period [Member] | Prior Year [Member] | ||||||||||||
Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Estimate of Fair Value Measurement [Member] | Current Period [Member] | Prior Year [Member] | Current Period [Member] | Prior Year [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Estimate of Fair Value Measurement [Member] | Current Period [Member] | Prior Year [Member] | Current Period [Member] | Prior Year [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Estimate of Fair Value Measurement [Member] | Current Period [Member] | Prior Year [Member] | Current Period [Member] | Prior Year [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | Estimate of Fair Value Measurement [Member] | Current Period [Member] | Prior Year [Member] | Prior Year [Member] | |||||||||||||||||||||||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Estimate of Fair Value Measurement [Member] | Prior Year [Member] | Current Period [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Estimate of Fair Value Measurement [Member] | Current Period [Member] | Current Period [Member] | Prior Year [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Estimate of Fair Value Measurement [Member] | Current Period [Member] | Prior Year [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Estimate of Fair Value Measurement [Member] | Current Period [Member] | Prior Year [Member] | Current Period [Member] | Prior Year [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | Estimate of Fair Value Measurement [Member] | Current Period [Member] | Prior Year [Member] | Prior Year [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Fair Value Measurements | $7,584 | $3,492 | $7,584 | $3,492 | ' | ' | $29,001 | $11,295 | $29,001 | $11,295 | ' | ' | ' | $500 | $500 | $500 | $500 | $15,363 | $46,153 | $15,363 | $46,153 | ' | ' | $14,236 | $11,206 | $14,236 | $11,206 | ' | ' | ' | ' | $29 | $297 | $29 | $297 | ' | ' | ' | $66,713 | $72,943 | $66,713 | $72,943 | ' | ' | ' | ' | ' | [1] | ' | [2] | $13,248 | [1] | $27,149 | [2] | $26,498 | [1] | $4,841 | [2] | $39,746 | [1] | $31,990 | [2] | ' | ' | ' | ' | $8,900 | $9,001 | $8,900 | $9,001 | ' | ' | ' | ' | $642 | $142 | $642 | $142 | ' | ' | ' | $642 | $142 | $13,248 | $27,149 | $102,111 | $86,785 | $116,001 | $114,076 | ' | ' | ' | ' | ||||
Total Losses/(gains) | ' | ' | ' | ' | $877 | $5,731 | ' | ' | ' | ' | $440 | $125 | $440 | ' | ' | ' | ' | ' | ' | ' | ' | $65 | $65 | ' | ' | ' | ' | $605 | $820 | $213 | $605 | ' | ' | ' | ' | $162 | $46 | $162 | ' | ' | ' | ' | $1,272 | $1,743 | $6,069 | $1,272 | ' | ' | ' | ' | ' | ' | ' | ' | $10,904 | [2] | $7,003 | [2] | ($3,134) | [1] | $10,904 | [1] | ' | ' | ' | ' | $309 | $379 | $409 | $309 | ' | ' | ' | ' | $181 | $200 | $181 | ' | ' | ' | ' | ' | ' | ' | ' | $12,666 | $9,325 | $3,344 | $12,666 | ||||||||
[1] | Other real estate owned balance of $53.0 million in the Consolidated Balance Sheets is net of estimated disposal costs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Other real estate owned balance of $46.4 million in the Consolidated Balance Sheets is net of estimated disposal costs. |
Note_17_Fair_Value_of_Financia2
Note 17 - Fair Value of Financial Instruments (Details) - Fair Value of Financial Instruments (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Financial Assets | ' | ' | ' | ' |
Cash and due from banks | $153,747 | $144,909 | $117,888 | $87,347 |
Securities held-to-maturity | ' | 773,768 | ' | ' |
Securities held-to-maturity | ' | 823,906 | ' | ' |
Securities available-for-sale | 1,586,668 | 1,291,480 | ' | ' |
Trading securities | 4,936 | 4,703 | ' | ' |
Investment in Federal Home Loan Bank stock | 25,000 | 41,272 | ' | ' |
Financial Liabilities | ' | ' | ' | ' |
Deposits | 7,981,305 | 7,383,225 | ' | ' |
Securities sold under agreement to repurchase | 800,000 | 1,250,000 | ' | ' |
Advances from Federal Home Loan Bank | 521,200 | 146,200 | ' | ' |
Long-term debt | 121,136 | 171,136 | ' | ' |
Carrying Amount [Member] | ' | ' | ' | ' |
Financial Assets | ' | ' | ' | ' |
Cash and due from banks | 153,747 | 144,909 | ' | ' |
Short-term investments | 516,938 | 411,983 | ' | ' |
Short-term investments | 516,938 | 411,983 | ' | ' |
Securities held-to-maturity | ' | 773,768 | ' | ' |
Securities available-for-sale | 1,586,668 | 1,291,480 | ' | ' |
Trading securities | 4,936 | 4,703 | ' | ' |
Loans, net | 7,897,187 | 7,235,587 | ' | ' |
Investment in Federal Home Loan Bank stock | 25,000 | 41,272 | ' | ' |
Warrants | 30 | 104 | ' | ' |
Option contracts | 200 | 105 | ' | ' |
Foreign exchange contracts | 267,644 | 188,145 | ' | ' |
Financial Liabilities | ' | ' | ' | ' |
Deposits | 7,981,305 | 7,383,225 | ' | ' |
Securities sold under agreement to repurchase | 800,000 | 1,250,000 | ' | ' |
Advances from Federal Home Loan Bank | 521,200 | 146,200 | ' | ' |
Other borrowings | 19,062 | 18,713 | ' | ' |
Long-term debt | 121,136 | 171,136 | ' | ' |
Option contracts | ' | 104 | ' | ' |
Foreign exchange contracts | 236,350 | 133,669 | ' | ' |
Off-Balance Sheet Financial Instruments | ' | ' | ' | ' |
Commitments to extend credit | 1,858,669 | 1,740,463 | ' | ' |
Standby letters of credit | 45,058 | 44,672 | ' | ' |
Other letters of credit | 54,098 | 71,073 | ' | ' |
Bill of lading guarantees | 80 | 77 | ' | ' |
Fair Value [Member] | ' | ' | ' | ' |
Financial Assets | ' | ' | ' | ' |
Cash and due from banks | 153,747 | 144,909 | ' | ' |
Short-term investments | 516,938 | 411,983 | ' | ' |
Short-term investments | 516,938 | 411,983 | ' | ' |
Securities held-to-maturity | ' | 823,906 | ' | ' |
Securities available-for-sale | 1,586,668 | 1,291,480 | ' | ' |
Trading securities | 4,936 | 4,703 | ' | ' |
Loans, net | 7,760,490 | 7,169,732 | ' | ' |
Investment in Federal Home Loan Bank stock | 25,000 | 41,272 | ' | ' |
Warrants | 30 | 104 | ' | ' |
Option contracts | 0 | ' | ' | ' |
Foreign exchange contracts | 6,182 | 2,924 | ' | ' |
Financial Liabilities | ' | ' | ' | ' |
Deposits | 7,977,639 | 7,389,015 | ' | ' |
Securities sold under agreement to repurchase | 852,835 | 1,361,585 | ' | ' |
Advances from Federal Home Loan Bank | 521,560 | 146,789 | ' | ' |
Other borrowings | 16,107 | 14,573 | ' | ' |
Long-term debt | 58,970 | 98,392 | ' | ' |
Option contracts | ' | 2 | ' | ' |
Foreign exchange contracts | 6,140 | 1,586 | ' | ' |
Off-Balance Sheet Financial Instruments | ' | ' | ' | ' |
Commitments to extend credit | -2,187 | -1,875 | ' | ' |
Standby letters of credit | -205 | -204 | ' | ' |
Other letters of credit | -34 | -34 | ' | ' |
Bill of lading guarantees | ' | $0 | ' | ' |
Note_17_Fair_Value_of_Financia3
Note 17 - Fair Value of Financial Instruments (Details) - Fair Value of Financial Instruments (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financial Assets | ' | ' |
Securities held-to-maturity | ' | $823,906 |
Securities available-for-sale | 1,586,668 | 1,291,480 |
Trading securities | 4,936 | 4,703 |
Estimate of Fair Value Measurement [Member] | ' | ' |
Financial Assets | ' | ' |
Cash and due from banks | 153,747 | 144,909 |
Short-term investments | 516,938 | 411,983 |
Securities held-to-maturity | ' | 823,906 |
Securities available-for-sale | 1,586,668 | 1,291,480 |
Trading securities | 4,936 | 4,703 |
Loans, net | 7,760,490 | 7,169,732 |
Investment in Federal Home Loan Bank stock | 25,000 | 41,272 |
Warrants | 30 | 104 |
Financial Liabilities | ' | ' |
Deposits | 7,977,639 | 7,389,015 |
Securities sold under agreement to repurchase | 852,835 | 1,361,585 |
Advances from Federal Home Loan Bank | 521,560 | 146,789 |
Other borrowings | 16,107 | 14,573 |
Long-term debt | 58,970 | 98,392 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Financial Assets | ' | ' |
Cash and due from banks | 153,747 | 144,909 |
Short-term investments | 516,938 | 411,983 |
Securities available-for-sale | 465,917 | 526,165 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Financial Assets | ' | ' |
Securities held-to-maturity | ' | 823,906 |
Securities available-for-sale | 1,120,751 | 765,315 |
Trading securities | 4,936 | 4,703 |
Investment in Federal Home Loan Bank stock | 25,000 | 41,272 |
Financial Liabilities | ' | ' |
Securities sold under agreement to repurchase | 852,835 | 1,361,585 |
Advances from Federal Home Loan Bank | 521,560 | 146,789 |
Long-term debt | 58,970 | 98,392 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Financial Assets | ' | ' |
Securities available-for-sale | ' | 0 |
Loans, net | 7,760,490 | 7,169,732 |
Warrants | 30 | 104 |
Financial Liabilities | ' | ' |
Deposits | 7,977,639 | 7,389,015 |
Other borrowings | $16,107 | $14,573 |
Note_18_Employee_Benefit_Plans1
Note 18 - Employee Benefit Plans (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2010 | Mar. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Less Than Two Years of Service [Member] | Yearly After Two Years of Service [Member] | First Two and Half Percent of Eligible Compensation [Member] | Matched at 100% [Member] | Maximum [Member] | Minimum [Member] | ||||
Note 18 - Employee Benefit Plans (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum Number Of Years Allowed To Participate In Employee Stock Ownership Plan | ' | '2 years | ' | ' | ' | ' | ' | ' | ' |
Minimum number of hours allowed to participate in employee stock ownership plan for part-time employees | ' | '1000 hours | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in Shares) | 3,825 | 2,814 | 3,437 | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Employee Stock Purchase Plan | $92,000 | $47,000 | $47,000 | ' | ' | ' | ' | ' | ' |
Benefits Distributed to Participants, Shares (in Shares) | 51,779 | 116,124 | 83,020 | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 1,140,788 | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Outstanding Common Stock Under Employee Stock Ownership Plan | 1.40% | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 75.00% | ' | ' | ' | ' | ' | 2.50% | ' | ' |
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage | ' | ' | ' | 0.00% | 25.00% | ' | ' | ' | ' |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' |
Defined Contribution Plan, Employer Discretionary Contribution Amount | 1,000,000 | 1,000,000 | 900,000 | ' | ' | ' | ' | ' | ' |
Percentage of Participant Borrowing Capacity of Vested Amount | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Stock Ownership Plan (ESOP), Debt Structure, Direct Loan, Employer Cash Payments Used for Debt Service | ' | ' | ' | ' | ' | ' | ' | $50,000 | $1,000 |
Note_19_Equity_Incentive_Plans2
Note 19 - Equity Incentive Plans (Details) (USD $) | 1 Months Ended | 12 Months Ended | ||
Feb. 21, 2008 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 19 - Equity Incentive Plans (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | 1,140,788 | ' | ' |
Maximum Period Of Common Stock Granted | ' | 10 | ' | ' |
Annual Increments To Be Vested In Common Stock Units | ' | 20.00% | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | 0 | 0 | 0 |
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options (in Dollars) | ' | $14,800,000 | $764,000 | $1,300,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | ' | 594,946 | 50,024 | 86,860 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value (in Dollars) | ' | 2,100,000 | 745,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value (in Dollars) | ' | 307,000 | 103,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | 138,220 | 11,814 | 12,633 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | ' | $22.71 | $16.90 | $18.79 |
Stock Shares Issued to Officers as Compensation | ' | 52,431 | 45,937 | ' |
Average Per Share Stock Price Issued to Officers as Compensation (in Dollars per share) | ' | $21.13 | $17.16 | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Note 19 - Equity Incentive Plans (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 82,291 | 25,037 | 125,133 | 147,661 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | ' | $20.68 | $18.24 | $14.78 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | '2 years | '2 years | '2 years |
Stock or Unit Option Plan Expense (in Dollars) | ' | 2,000,000 | 1,300,000 | 758,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | ' | 7,200,000 | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | '2 years 219 days | ' |
Performance TSR Restricted Stock [Member] | ' | ' | ' | ' |
Note 19 - Equity Incentive Plans (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | 119,840 | ' | ' |
PerformanceEPSRestrictedStockUnitsMember | ' | ' | ' | ' |
Note 19 - Equity Incentive Plans (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | 116,186 | ' | ' |
Salary Stock [Member] | ' | ' | ' | ' |
Note 19 - Equity Incentive Plans (Details) [Line Items] | ' | ' | ' | ' |
Allocated Share-based Compensation Expense (in Dollars) | ' | $1,100,000 | $788,000 | ' |
Equity Incentive Plan [Member] | ' | ' | ' | ' |
Note 19 - Equity Incentive Plans (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | 7,000,000 | ' | ' |
2005 Incentive Plan [Member] | ' | ' | ' | ' |
Note 19 - Equity Incentive Plans (Details) [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | 3,131,854 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | ' | 2,640,264 | ' | ' |
Note_19_Equity_Incentive_Plans3
Note 19 - Equity Incentive Plans (Details) - Stock Options (USD $) | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Stock Options [Abstract] | ' | ' | ' | ' |
Balance - shares | 2,812,874 | 3,996,630 | 4,356,985 | 4,947,348 |
Balance - weighted-average exercise price (in Dollars per share) | $31.81 | $29.45 | $28.86 | $27.93 |
Balance - weighted-average remaining contractual life | '1 year 328 days | '2 years 73 days | '3 years | '3 years 255 days |
Balance - aggregate intrinisc value (in Dollars) | $2,119 | ' | $37 | $334 |
Exercisable, December 31, 2013 | 2,812,874 | ' | ' | ' |
Exercisable, December 31, 2013 (in Dollars per share) | $31.81 | ' | ' | ' |
Exercisable, December 31, 2013 | '1 year 328 days | ' | ' | ' |
Exercisable, December 31, 2013 (in Dollars) | $2,119 | ' | ' | ' |
Exercised - shares | -594,946 | -50,024 | -86,860 | ' |
Exercised - weighted average exercise price (in Dollars per share) | $24.80 | $15.27 | $15.05 | ' |
Forfeited - shares | -588,810 | -310,331 | -503,503 | ' |
Forfeited - weighted average exercise price (in Dollars per share) | $22.86 | $23.75 | $22.72 | ' |
Note_19_Equity_Incentive_Plans4
Note 19 - Equity Incentive Plans (Details) - Stock Options Outstanding and Exercisable (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Shares | 2,812,874 | 3,996,630 | 4,356,985 | 4,947,348 |
Weighted-Average Remaining Contractual Life | '1 year 328 days | '2 years 73 days | '3 years | '3 years 255 days |
$19.93 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Exercise Price (in Dollars per share) | ' | 28.7 | ' | ' |
Shares | ' | 438,000 | ' | ' |
Weighted-Average Remaining Contractual Life | ' | '36 days | ' | ' |
Exercisable Shares | ' | 438,000 | ' | ' |
$23.37 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Exercise Price (in Dollars per share) | ' | 32.26 | ' | ' |
Shares | ' | 10,000 | ' | ' |
Weighted-Average Remaining Contractual Life | ' | '6 months | ' | ' |
Exercisable Shares | ' | 10,000 | ' | ' |
$24.80 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Exercise Price (in Dollars per share) | ' | 38.38 | ' | ' |
Shares | ' | 15,000 | ' | ' |
Weighted-Average Remaining Contractual Life | ' | '328 days | ' | ' |
Exercisable Shares | ' | 15,000 | ' | ' |
$28.70 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Exercise Price (in Dollars per share) | ' | 37 | ' | ' |
Shares | ' | 568,270 | ' | ' |
Weighted-Average Remaining Contractual Life | ' | '1 year 36 days | ' | ' |
Exercisable Shares | ' | 568,270 | ' | ' |
$32.26 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Exercise Price (in Dollars per share) | ' | 32.47 | ' | ' |
Shares | ' | 245,060 | ' | ' |
Weighted-Average Remaining Contractual Life | ' | '1 year 73 days | ' | ' |
Exercisable Shares | ' | 245,060 | ' | ' |
$32.47 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Exercise Price (in Dollars per share) | ' | 33.54 | ' | ' |
Shares | ' | 264,694 | ' | ' |
Weighted-Average Remaining Contractual Life | ' | '1 year 146 days | ' | ' |
Exercisable Shares | ' | 264,694 | ' | ' |
$33.54 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Exercise Price (in Dollars per share) | ' | 36.9 | ' | ' |
Shares | ' | 218,540 | ' | ' |
Weighted-Average Remaining Contractual Life | ' | '2 years 36 days | ' | ' |
Exercisable Shares | ' | 218,540 | ' | ' |
$37.00 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Exercise Price (in Dollars per share) | ' | 36.24 | ' | ' |
Shares | ' | 410,730 | ' | ' |
Weighted-Average Remaining Contractual Life | ' | '2 years 36 days | ' | ' |
Exercisable Shares | ' | 410,730 | ' | ' |
$38.38 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Exercise Price (in Dollars per share) | ' | 38.26 | ' | ' |
Shares | ' | 12,000 | ' | ' |
Weighted-Average Remaining Contractual Life | ' | '2 years 109 days | ' | ' |
Exercisable Shares | ' | 12,000 | ' | ' |
$36.90 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Exercise Price (in Dollars per share) | ' | 23.37 | ' | ' |
Shares | ' | 630,580 | ' | ' |
Weighted-Average Remaining Contractual Life | ' | '4 years 73 days | ' | ' |
Exercisable Shares | ' | 630,580 | ' | ' |
$36.24 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Shares | ' | 2,812,874 | ' | ' |
Weighted-Average Remaining Contractual Life | ' | '1 year 328 days | ' | ' |
Exercisable Shares | ' | 2,812,874 | ' | ' |
Note_19_Equity_Incentive_Plans5
Note 19 - Equity Incentive Plans (Details) - Restricted Stock Units (Restricted Stock Units (RSUs) [Member]) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Note 19 - Equity Incentive Plans (Details) - Restricted Stock Units [Line Items] | ' | ' | ' |
Balance at December 31, 2010 | ' | ' | 38,960 |
Balance | 143,433 | 256,616 | 171,410 |
Granted | 25,037 | 125,133 | 147,661 |
Vested | -138,220 | -11,814 | -12,633 |
Cancelled or forfeited | ' | -28,113 | -2,578 |
Note_19_Equity_Incentive_Plans6
Note 19 - Equity Incentive Plans (Details) - Tax Short-Fall From Share-Based Payment Arrangements (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Tax Short-Fall From Share-Based Payment Arrangements [Abstract] | ' | ' | ' |
(Short-fall)/benefit of tax deductions in excess of grant-date fair value | ($2,509) | ($620) | ($290) |
Benefit of tax deductions on grant-date fair value | 4,172 | 747 | 362 |
Total benefit of tax deductions | $1,663 | $127 | $72 |
Note_20_Condensed_Financial_In2
Note 20 - Condensed Financial Information of Cathay General Bancorp (Details) - Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Assets | ' | ' | ' | ' |
Cash | $153,747,000 | $144,909,000 | $117,888,000 | $87,347,000 |
Other assets | 190,634,000 | 166,595,000 | ' | ' |
Total assets | 10,989,286,000 | 10,694,089,000 | ' | ' |
Liabilities | ' | ' | ' | ' |
Junior subordinated debt | 121,136 | ' | ' | ' |
Other liabilities | 55,418,000 | 54,040,000 | ' | ' |
Total liabilities | 9,530,315,000 | 9,064,585,000 | ' | ' |
Stockholders' equity | ' | ' | ' | ' |
Preferred stock, 10,000,000 shares authorized, none issued and outstanding at December 31, 2013, 258,000 issued and outstanding at December 31, 2012 | ' | 254,580,000 | ' | ' |
Common stock, $0.01 par value, 100,000,000 shares authorized, 83,797,434 issued and 79,589,869 outstanding at December 31, 2013, and 82,985,853 issued and 78,778,288 outstanding at December 31, 2012 | 838,000 | 830,000 | ' | ' |
Additional paid-in-capital | 784,489,000 | 768,925,000 | ' | ' |
Accumulated other comprehensive loss, net | -29,729,000 | 465,000 | ' | ' |
Retained earnings | 829,109,000 | 721,993,000 | ' | ' |
Treasury stock, at cost (4,207,565 shares at December 31, 2013, and at December 31, 2012) | 125,736,000 | 125,736,000 | ' | ' |
Total stockholders' equity | 1,458,971,000 | 1,621,057,000 | ' | ' |
Total liabilities and stockholders' equity | 10,989,286,000 | 10,694,089,000 | ' | ' |
Bank Subsidiaries [Member] | Parent Company [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Investment in subsidiaries | 1,525,459,000 | 1,569,902,000 | ' | ' |
Non-Bank Subsidiaries [Member] | Parent Company [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Investment in subsidiaries | 2,536,000 | 2,598,000 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash | 1,835,000 | 639,000 | ' | ' |
Short-term certificates of deposit | 38,000,000 | 161,300,000 | ' | ' |
Other assets | 12,866,000 | 9,936,000 | ' | ' |
Total assets | 1,580,696,000 | 1,744,375,000 | ' | ' |
Liabilities | ' | ' | ' | ' |
Junior subordinated debt | 121,136,000 | 121,136,000 | ' | ' |
Other liabilities | 589,000 | 2,182,000 | ' | ' |
Total liabilities | 121,725,000 | 123,318,000 | ' | ' |
Stockholders' equity | ' | ' | ' | ' |
Preferred stock, 10,000,000 shares authorized, none issued and outstanding at December 31, 2013, 258,000 issued and outstanding at December 31, 2012 | ' | 254,580,000 | ' | ' |
Common stock, $0.01 par value, 100,000,000 shares authorized, 83,797,434 issued and 79,589,869 outstanding at December 31, 2013, and 82,985,853 issued and 78,778,288 outstanding at December 31, 2012 | 838,000 | 830,000 | ' | ' |
Additional paid-in-capital | 784,489,000 | 768,925,000 | ' | ' |
Accumulated other comprehensive loss, net | -29,729,000 | 465,000 | ' | ' |
Retained earnings | 829,109,000 | 721,993,000 | ' | ' |
Treasury stock, at cost (4,207,565 shares at December 31, 2013, and at December 31, 2012) | -125,736,000 | -125,736,000 | ' | ' |
Total stockholders' equity | 1,458,971,000 | 1,621,057,000 | ' | ' |
Total liabilities and stockholders' equity | $1,580,696,000 | $1,744,375,000 | ' | ' |
Note_20_Condensed_Financial_In3
Note 20 - Condensed Financial Information of Cathay General Bancorp (Details) - Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Condensed Balance Sheet Statements, Captions [Line Items] | ' | ' |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | ' | 258,000 |
Preferred stock, shares outstanding | ' | 258,000 |
Common stock, par value (in Dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 83,797,434 | 82,985,853 |
Common stock, shares outstanding | 79,589,869 | 78,778,288 |
Treasury stock, shares | 4,207,565 | 4,207,565 |
Parent Company [Member] | ' | ' |
Condensed Balance Sheet Statements, Captions [Line Items] | ' | ' |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 258,000 |
Preferred stock, shares outstanding | 0 | 258,000 |
Common stock, par value (in Dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 83,797,434 | 82,985,853 |
Common stock, shares outstanding | 79,589,869 | 78,778,288 |
Treasury stock, shares | 4,207,565 | 4,207,565 |
Note_20_Condensed_Financial_In4
Note 20 - Condensed Financial Information of Cathay General Bancorp (Details) - Statements of Operations (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | $101,621 | $102,462 | $100,862 | $102,051 | $105,281 | $106,747 | $107,581 | $110,135 | ' | ' | ' |
Interest expense | 19,659 | 19,854 | 20,868 | 21,919 | 24,216 | 26,330 | 28,461 | 29,484 | 82,300 | 108,491 | 139,881 |
Non-interest income/(loss) | 8,345 | 16,720 | 20,361 | 14,881 | 12,202 | 15,622 | 9,852 | 8,831 | 60,307 | 46,507 | 50,892 |
Non-interest expense | 40,319 | 50,670 | 53,716 | 49,128 | 49,532 | 47,844 | 47,342 | 47,871 | 193,833 | 192,589 | 185,566 |
Income tax benefit | 17,946 | 19,029 | 16,573 | 16,887 | 15,276 | 17,686 | 16,619 | 16,547 | 70,435 | 66,128 | 51,261 |
Loss before undistributed earnings of subsidiaries | 49,988 | 51,658 | 46,639 | 45,885 | 43,735 | 48,195 | 46,630 | 45,611 | 194,170 | 184,171 | 152,016 |
Net income | 32,042 | 32,629 | 30,066 | 28,998 | 28,459 | 30,509 | 30,011 | 29,064 | 123,143 | 117,438 | 100,150 |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash dividends from Cathay Bank | ' | ' | ' | ' | ' | ' | ' | ' | 138,030 | 154,700 | ' |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 157 | 196 | 259 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 2,994 | 3,228 | 3,038 |
Non-interest income/(loss) | ' | ' | ' | ' | ' | ' | ' | ' | 434 | 3,718 | 286 |
Non-interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 2,443 | 2,064 | 1,548 |
Income/(loss) before income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | 133,184 | 153,322 | -4,041 |
Income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | -2,037 | -579 | -1,699 |
Loss before undistributed earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 135,221 | 153,901 | -2,342 |
Distributions less (more) than earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -12,078 | -36,463 | 102,492 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | $123,143 | $117,438 | $100,150 |
Note_20_Condensed_Financial_In5
Note 20 - Condensed Financial Information of Cathay General Bancorp (Details) - Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from Operating Activities | ' | ' | ' |
Net income | $123,143 | $117,438 | $100,150 |
Write-downs on venture capital and other investments | 409 | 309 | 379 |
Write-downs on impaired securities | ' | 181 | 200 |
Excess tax short-fall from stock options | 2,509 | 620 | 290 |
Net change in other assets | 23,525 | 43,304 | 2,622 |
Net change in other liabilities | -4,973 | -2,256 | 3,746 |
Net cash provided by/(used in) operating activities | 115,073 | 164,576 | 174,050 |
Cash flows from Investment Activities | ' | ' | ' |
Proceeds from sale of available-for-sale securities | -350,130 | -517,513 | -571,093 |
Net cash provided by/(used in) investment activities | -311,806 | -46,536 | 127,050 |
Cash flows from Financing Activities | ' | ' | ' |
Cash dividends | -12,606 | -16,049 | -16,046 |
Proceeds from exercise of stock options | 14,755 | 764 | 1,306 |
Excess tax short-fall from share-based payment arrangements | -2,509 | -620 | -290 |
Net cash used in financing activities | 205,571 | -91,019 | -270,559 |
Increase/(decrease) in cash and cash equivalents | 8,838 | 27,021 | 30,541 |
Cash and cash equivalents, | 153,747 | 144,909 | 117,888 |
Series B Preferred Stock [Member] | Parent Company [Member] | ' | ' | ' |
Cash flows from Financing Activities | ' | ' | ' |
Redemption of Series B preferred stock | -258,000 | ' | ' |
Series B Preferred Stock [Member] | ' | ' | ' |
Cash flows from Financing Activities | ' | ' | ' |
Redemption of Series B preferred stock | -258,000 | ' | ' |
Parent Company [Member] | ' | ' | ' |
Cash flows from Operating Activities | ' | ' | ' |
Net income | 123,143 | 117,438 | 100,150 |
Dividends in excess of earnings of subsidiaries | 12,078 | 36,463 | ' |
Equity in undistributed earnings of subsidiaries | 12,078 | 36,463 | -102,492 |
Gains on sale of securities | ' | -3,380 | ' |
Increase in accrued expense | ' | 12 | 24 |
Write-downs on venture capital and other investments | 357 | 262 | 321 |
Write-downs on impaired securities | ' | 181 | 200 |
Loss/(gains) in fair value of warrants | 56 | 114 | -215 |
Excess tax short-fall from stock options | 2,509 | 620 | 290 |
Net change in other assets | -1,684 | 1,820 | -121 |
Net change in other liabilities | 27 | 59 | -221 |
Net cash provided by/(used in) operating activities | 136,486 | 153,589 | -2,064 |
Cash flows from Investment Activities | ' | ' | ' |
Decrease/(increase) in short-term investment | 123,300 | -142,300 | 17,500 |
Proceeds from sale of available-for-sale securities | ' | 4,849 | ' |
Venture capital and other investments | -835 | -694 | -671 |
Net cash provided by/(used in) investment activities | 122,465 | -138,145 | 16,829 |
Cash flows from Financing Activities | ' | ' | ' |
Cash dividends | -12,606 | -16,049 | -16,046 |
Proceeds from shares issued under the Dividend Reinvestment Plan | 605 | 291 | 287 |
Proceeds from exercise of stock options | 14,755 | 764 | 1,306 |
Excess tax short-fall from share-based payment arrangements | -2,509 | -620 | -290 |
Net cash used in financing activities | -257,755 | -15,614 | -14,743 |
Increase/(decrease) in cash and cash equivalents | 1,196 | -170 | 22 |
Cash and cash equivalents, | 1,835 | 639 | ' |
Parent Company [Member] | Beginning of Period [Member] | ' | ' | ' |
Cash flows from Financing Activities | ' | ' | ' |
Cash and cash equivalents, | 639 | 809 | 787 |
Parent Company [Member] | End of Period [Member] | ' | ' | ' |
Cash flows from Financing Activities | ' | ' | ' |
Cash and cash equivalents, | $1,835 | $639 | $809 |
Note_21_Dividend_Reinvestment_1
Note 21 - Dividend Reinvestment Plan (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Dividend Reinvestment Plan [Abstract] | ' | ' | ' |
Stock Issued During Period, Shares, Dividend Reinvestment Plan | 25,984 | 17,956 | 21,281 |
Stock Issued During Period, Value, Dividend Reinvestment Plan (in Dollars) | $605,000 | $291,000 | $287,000 |
Note_22_Regulatory_Matters_Det
Note 22 - Regulatory Matters (Details) | Dec. 31, 2013 |
Disclosure Text Block [Abstract] | ' |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.00% |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% |
Note_22_Regulatory_Matters_Det1
Note 22 - Regulatory Matters (Details) - Capital and Leverage Ratios (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Company [Member] | ' | ' | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ||
Tier I Capital (to risk- weighted assets) | $1,288,892 | $1,426,566 | ||
Tier I Capital (to risk- weighted assets) | 15.04% | 17.36% | ||
Tier I Capital minimum requirement | 342,899 | 328,713 | ||
Tier I Capital minimum requirement | 4.00% | 4.00% | ||
Excess | 945,993 | 1,097,853 | ||
Excess | 11.04% | 13.36% | ||
Total Capital (to risk- weighted assets) | 1,401,319 | 1,571,060 | ||
Total Capital (to risk- weighted assets) | 16.35% | 19.12% | ||
Total Capital minimum requirement | 685,799 | 657,426 | ||
Total Capital minimum requirement | 8.00% | 8.00% | ||
Excess | 715,520 | 913,634 | ||
Excess | 8.35% | 11.12% | ||
Tier I Capital (to average assets) Leverage ratio | 1,288,892 | 1,426,566 | ||
Tier I Capital (to average assets) Leverage ratio | 12.48% | 13.82% | ||
Minimum leverage requirement | 413,158 | 412,844 | ||
Minimum leverage requirement | 4.00% | 4.00% | ||
Excess | 875,734 | 1,013,722 | ||
Excess | 8.48% | 9.82% | ||
Total average assets (1) | 10,328,952 | [1] | 10,321,104 | [1] |
Risk-weighted assets | 8,572,487 | 8,217,821 | ||
Bank [Member] | ' | ' | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ||
Tier I Capital (to risk- weighted assets) | 1,244,480 | 1,259,005 | ||
Tier I Capital (to risk- weighted assets) | 14.53% | 15.33% | ||
Tier I Capital minimum requirement | 342,701 | 328,440 | ||
Tier I Capital minimum requirement | 4.00% | 4.00% | ||
Excess | 901,779 | 930,565 | ||
Excess | 10.53% | 11.33% | ||
Total Capital (to risk- weighted assets) | 1,352,415 | 1,402,691 | ||
Total Capital (to risk- weighted assets) | 15.79% | 17.08% | ||
Total Capital minimum requirement | 685,402 | 656,880 | ||
Total Capital minimum requirement | 8.00% | 8.00% | ||
Excess | 667,013 | 745,811 | ||
Excess | 7.79% | 9.08% | ||
Tier I Capital (to average assets) Leverage ratio | 1,244,480 | 1,259,005 | ||
Tier I Capital (to average assets) Leverage ratio | 12.06% | 12.22% | ||
Minimum leverage requirement | 412,815 | 412,272 | ||
Minimum leverage requirement | 4.00% | 4.00% | ||
Excess | 831,665 | 846,733 | ||
Excess | 8.06% | 8.22% | ||
Total average assets (1) | 10,320,368 | [1] | 10,306,790 | [1] |
Risk-weighted assets | $8,567,523 | $8,211,004 | ||
[1] | Average assets represent average balances for the fourth quarter of each year presented. |
Note_23_Balance_Sheet_Offsetti2
Note 23 - Balance Sheet Offsetting (Details) - Financial Instruments that are Eligible for Offset in the Consolidated Balance Sheet (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Financial Instruments that are Eligible for Offset in the Consolidated Balance Sheet [Abstract] | ' | ' |
Gross Amounts of Recognized Liabilities | $800,000 | $1,250,000 |
Net Amounts of Liabilities Presented in the Balance Sheet | 800,000 | 1,250,000 |
Collateral Posted | ($800,000) | ($1,250,000) |
Note_24_Quarterly_Results_of_O2
Note 24 - Quarterly Results of Operations (Unaudited) (Details) - Selected Unaudited Quarterly Financial Data (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Selected Unaudited Quarterly Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | $101,621 | $102,462 | $100,862 | $102,051 | $105,281 | $106,747 | $107,581 | $110,135 | ' | ' | ' |
Interest expense | 19,659 | 19,854 | 20,868 | 21,919 | 24,216 | 26,330 | 28,461 | 29,484 | 82,300 | 108,491 | 139,881 |
Net interest income | 81,962 | 82,608 | 79,994 | 80,132 | 81,065 | 80,417 | 79,120 | 80,651 | 324,696 | 321,253 | 313,690 |
Reversal for credit losses | ' | -3,000 | ' | ' | ' | ' | -5,000 | -4,000 | -3,000 | -9,000 | 27,000 |
Net-interest income after provision for loan losses | 81,962 | 85,608 | 79,994 | 80,132 | 81,065 | 80,417 | 84,120 | 84,651 | 327,696 | 330,253 | 286,690 |
Non-interest income | 8,345 | 16,720 | 20,361 | 14,881 | 12,202 | 15,622 | 9,852 | 8,831 | 60,307 | 46,507 | 50,892 |
Non-interest expense | 40,319 | 50,670 | 53,716 | 49,128 | 49,532 | 47,844 | 47,342 | 47,871 | 193,833 | 192,589 | 185,566 |
Income before income tax expense | 49,988 | 51,658 | 46,639 | 45,885 | 43,735 | 48,195 | 46,630 | 45,611 | 194,170 | 184,171 | 152,016 |
Income tax expense | 17,946 | 19,029 | 16,573 | 16,887 | 15,276 | 17,686 | 16,619 | 16,547 | 70,435 | 66,128 | 51,261 |
Net income | 32,042 | 32,629 | 30,066 | 28,998 | 28,459 | 30,509 | 30,011 | 29,064 | 123,143 | 117,438 | 100,150 |
Less: net income attributable to noncontrolling interest | 140 | 151 | 150 | 151 | 153 | 151 | 150 | 151 | 592 | 605 | 605 |
Net income attributable to Cathay General Bancorp | 31,902 | 32,478 | 29,916 | 28,847 | 28,306 | 30,358 | 29,861 | 28,913 | 123,735 | 118,043 | 100,755 |
Dividends on preferred stock | ' | -2,434 | -2,067 | -5,184 | -4,127 | -4,123 | -4,121 | -4,117 | 9,685 | 16,488 | 16,437 |
Net income available to common stockholders | $31,902 | $30,044 | $27,849 | $23,663 | $24,179 | $26,235 | $25,740 | $24,796 | $113,458 | $100,950 | $83,713 |
Basic net income attributable to common stockholders per common share (in Dollars per share) | $0.40 | $0.38 | $0.35 | $0.30 | $0.31 | $0.33 | $0.33 | $0.32 | $1.44 | $1.28 | $1.06 |
Diluted net income attributable to common stockholders per common share (in Dollars per share) | $0.40 | $0.38 | $0.35 | $0.30 | $0.31 | $0.33 | $0.33 | $0.32 | $1.43 | $1.28 | $1.06 |