Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Aug. 03, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | CATHAY GENERAL BANCORP | |
Trading Symbol | CATY | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 82,606,382 | |
Amendment Flag | false | |
Entity Central Index Key | 861,842 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Filer Category | Large Accelerated Filer | |
Entity Well-known Seasoned Issuer | Yes | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - Scenario, Unspecified [Domain] - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Assets | ||
Cash and due from banks | $ 166,933,000 | $ 176,830,000 |
Short-term investments and interest bearing deposits | 48,711,000 | 489,614,000 |
Securities available-for-sale (amortized cost of $1,547,642 in 2015 and $1,324,408 in 2014) | 1,545,699,000 | 1,318,935,000 |
Loans held for sale | 0 | 973,000 |
Loans | 9,502,008,000 | 8,914,080,000 |
Less: Allowance for loan losses | (153,437,000) | (161,420,000) |
Unamortized deferred loan fees, net | (10,207,000) | (12,392,000) |
Loans, net | 9,338,364,000 | 8,740,268,000 |
Federal Home Loan Bank stock | 17,250,000 | 30,785,000 |
Other real estate owned, net | 23,839,000 | 31,477,000 |
Affordable housing investments and alternative energy partnerships, net | 160,419,000 | 104,579,000 |
Premises and equipment, net | 97,616,000 | 99,682,000 |
Customers’ liability on acceptances | 26,378,000 | 35,656,000 |
Accrued interest receivable | 27,747,000 | 25,364,000 |
Goodwill | 316,340,000 | 316,340,000 |
Other intangible assets, net | 2,948,000 | 3,237,000 |
Other assets | 146,072,000 | 143,106,000 |
Total assets | 11,918,316,000 | 11,516,846,000 |
Deposits | ||
Non-interest-bearing demand deposits | 1,671,970,000 | 1,664,914,000 |
Interest-bearing deposits: | ||
NOW deposits | 871,126,000 | 778,691,000 |
Money market deposits | 1,682,999,000 | 1,538,187,000 |
Savings deposits | 562,602,000 | 533,940,000 |
Time deposits | 4,550,166,000 | 4,267,728,000 |
Total deposits | 9,338,863,000 | 8,783,460,000 |
Securities sold under agreements to repurchase | 400,000,000 | 450,000,000 |
Advances from the Federal Home Loan Bank | 210,000,000 | 425,000,000 |
Other borrowings for affordable housing investments | 20,261,000 | 19,934,000 |
Long-term debt | 119,136,000 | 119,136,000 |
Acceptances outstanding | 26,378,000 | 35,656,000 |
Other liabilities | 134,613,000 | 80,772,000 |
Total liabilities | $ 10,249,251,000 | $ 9,913,958,000 |
Commitments and contingencies | ||
Stockholders’ Equity | ||
Common stock, $0.01 par value, 100,000,000 shares authorized, 84,232,727 issued and 80,025,162 outstanding at June 30, 2015, and 84,022,118 issued and 79,814,553 outstanding at December 31, 2014 | $ 842,000 | $ 840,000 |
Additional paid-in-capital | 790,897,000 | 789,519,000 |
Accumulated other comprehensive loss, net | (2,782,000) | (5,569,000) |
Retained earnings | 1,005,844,000 | 943,834,000 |
Treasury stock, at cost (4,207,565 shares at June 30, 2015, and at December 31, 2014) | (125,736,000) | (125,736,000) |
Total equity | 1,669,065,000 | 1,602,888,000 |
Total liabilities and equity | $ 11,918,316,000 | $ 11,516,846,000 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Securities available-for-sale, amortized cost (in Dollars) | $ 1,547,642 | $ 1,324,408 |
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 | 84,232,727 | 84,022,118 |
Common stock shares outstanding | 80,025,162 | 79,814,553 |
Treasury stock shares | 4,207,565 | 4,207,565 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Interest and Dividend Income | ||||
Loans receivable, including loan fees | $ 104,995 | $ 97,454 | $ 205,095 | $ 190,186 |
Investment securities | 5,346 | 6,708 | 9,120 | 14,284 |
Federal Home Loan Bank stock | 1,677 | 421 | 2,258 | 871 |
Deposits with banks | 368 | 479 | 847 | 928 |
Total interest and dividend income | 112,386 | 105,062 | 217,320 | 206,269 |
Interest Expense | ||||
Time deposits | 9,122 | 8,637 | 17,914 | 17,038 |
Other deposits | 3,019 | 2,540 | 5,793 | 4,831 |
Securities sold under agreements to repurchase | 3,934 | 6,943 | 7,859 | 13,873 |
Advances from Federal Home Loan Bank | 117 | 497 | 210 | 696 |
Long-term debt | 1,440 | 828 | 2,864 | 1,556 |
Total interest expense | 17,632 | 19,445 | 34,640 | 37,994 |
Net interest income before reversal for credit losses | 94,754 | 85,617 | 182,680 | 168,275 |
Reversal for loan losses | (2,150) | (3,700) | (7,150) | (3,700) |
Net interest income after reversal for credit losses | 96,904 | 89,317 | 189,830 | 171,975 |
Non-Interest Income | ||||
Securities (losses)/gains, net | (3,332) | 506 | (3,353) | 6,466 |
Letters of credit commissions | 1,391 | 1,520 | 2,659 | 2,988 |
Depository service fees | 1,293 | 1,306 | 2,594 | 2,669 |
Other operating income | 6,267 | 5,689 | 12,268 | 11,457 |
Total non-interest income | 5,619 | 9,021 | 14,168 | 23,580 |
Non-Interest Expense | ||||
Salaries and employee benefits | 24,463 | 23,391 | 47,079 | 46,842 |
Occupancy expense | 3,986 | 3,896 | 8,007 | 7,758 |
Computer and equipment expense | 2,292 | 2,534 | 4,794 | 4,836 |
Professional services expense | 6,287 | 5,263 | 11,639 | 10,419 |
FDIC and State assessments | 2,244 | 2,277 | 4,504 | 4,431 |
Marketing expense | 1,321 | 1,519 | 2,141 | 2,083 |
Other real estate owned (income)/expense | (1,786) | (377) | (1,303) | 382 |
Amortization of investments in low income housing and alternative energy partnerships | 5,467 | 1,018 | 7,850 | 3,454 |
Amortization of core deposit intangibles | 147 | 124 | 324 | 296 |
Costs associated with debt redemption | (555) | 2,821 | ||
Other operating expense | 3,164 | 3,423 | 6,681 | 7,259 |
Total non-interest expense | 47,585 | 42,513 | 91,716 | 90,581 |
Income before income tax expense | 54,938 | 55,825 | 112,282 | 104,974 |
Income tax expense | 9,738 | 20,741 | 31,102 | 38,631 |
Net income | 45,200 | 35,084 | 81,180 | 66,343 |
Other comprehensive income, net of tax | ||||
Unrealized holding (loss)/gain on securities available-for-sale | (6,395) | 13,750 | 104 | 24,844 |
Less: reclassification adjustments included in net income | (1,931) | 293 | (1,943) | 3,748 |
Unrealized holding gain/(loss) on cash flow hedge derivatives | 2,328 | (263) | 740 | (263) |
Total other comprehensive (loss)/gain, net of tax | (2,136) | 13,194 | 2,787 | 20,833 |
Total comprehensive income | $ 43,064 | $ 48,278 | $ 83,967 | $ 87,176 |
Net income per common share: | ||||
Basic (in Dollars per share) | $ 0.57 | $ 0.44 | $ 1.02 | $ 0.83 |
Diluted (in Dollars per share) | 0.56 | 0.44 | 1.01 | 0.83 |
Cash dividends paid per common share (in Dollars per share) | $ 0.14 | $ 0.07 | $ 0.24 | $ 0.12 |
Average common shares outstanding | ||||
Basic (in Shares) | 79,939,197 | 79,642,993 | 79,887,699 | 79,619,506 |
Diluted (in Shares) | 80,698,994 | 80,046,471 | 80,505,265 | 80,042,946 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Cash Flows from Operating Activities | ||
Net income | $ 81,180 | $ 66,343 |
Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | ||
Credit for loan losses | (7,150) | (3,700) |
Provision for losses on other real estate owned | 368 | 1,616 |
Deferred tax liability | 8,797 | 10,483 |
Depreciation and amortization | 6,864 | 3,896 |
Net gains on sale and transfer of other real estate owned | (2,003) | (2,373) |
Net gains on sale of loans | (763) | (216) |
Proceeds from sales of loans | 19,170 | 9,914 |
Originations of loans held-for-sale | (17,433) | (9,699) |
Net change in trading securities | 4,936 | |
Write-downs on venture capital investments | 327 | 268 |
Write-downs on impaired securities | 3,875 | |
Net gains on sales and calls of securities | (522) | (6,466) |
Amortization/accretion of security premiums/discounts, net | 1,770 | 1,723 |
Excess tax short-fall from share-based payment arrangements | 5,619 | 1,177 |
Stock based compensation and stock issued to officers as compensation | 2,738 | 1,997 |
Net change in accrued interest receivable and other assets | (15,041) | (6,644) |
Net change in other liabilities | (1,423) | (6,529) |
Net cash provided by operating activities | 86,373 | 66,726 |
Cash Flows from Investing Activities | ||
Decrease/(increase) in short-term investments | 440,903 | (286,638) |
Purchase of investment securities available-for-sale | (1,223,504) | (350,834) |
Proceeds from sale of investment securities available-for-sale | 958,656 | 466,867 |
Proceeds from repayments, maturities and calls of investment securities available-for-sale | 36,512 | 175,398 |
Purchase of Federal Home Loan Bank stock | (6,043) | |
Redemptions of Federal Home Loan Bank stock | 13,535 | 5,371 |
Net increase in loans | (581,379) | (476,774) |
Purchase of premises and equipment | (1,383) | (3,317) |
Proceeds from sales of other real estate owned | 10,139 | 17,931 |
Investment in affordable housing & alternative energy partnerships | (19,590) | (3,588) |
Net cash used in investing activities | (366,111) | (461,627) |
Cash Flows from Financing Activities | ||
Net increase in deposits | 555,369 | 599,146 |
Net decrease in federal funds purchased and securities sold under agreements to repurchase | (50,000) | (100,000) |
Advances from Federal Home Loan Bank | 4,632,000 | 6,452,400 |
Repayment of Federal Home Loan Bank borrowings | (4,847,000) | (6,452,400) |
Cash dividends paid | (19,170) | (9,556) |
Repayment of other borrowings | (2,000) | |
Proceeds from shares issued under Dividend Reinvestment Plan | 2,752 | 875 |
Proceeds from exercise of stock options | 1,713 | |
Taxes paid related to net share settlement of RSUs | (204) | (274) |
Excess tax short-fall from share-based payment arrangements | (5,619) | (1,177) |
Net cash provided by financing activities | 269,841 | 487,014 |
Increase in cash and cash equivalents | (9,897) | 92,113 |
Cash and cash equivalents, beginning of the period | 176,830 | 153,747 |
Cash and cash equivalents, end of the period | 166,933 | 245,860 |
Cash paid during the period: | ||
Interest | 34,505 | 38,910 |
Income taxes paid | 43,534 | 40,864 |
Non-cash investing and financing activities: | ||
Net change in unrealized holding gain on securities available-for-sale, net of tax | 2,046 | 21,096 |
Net change in unrealized holding gain/(loss) on cash flow hedge derivatives | 740 | (263) |
Transfers to other real estate owned from loans held for investment | $ 866 | $ 975 |
Note 1 - Business
Note 1 - Business | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Nature of Operations [Text Block] | 1. Business Cathay General Bancorp (“Bancorp”) is the holding company for Cathay Bank (the “Bank” and, together, the “Company”), seven limited partnerships investing in affordable housing investments in which the Bank is the sole limited partner, and GBC Venture Capital, Inc. Bancorp also owns 100% of the common stock of five statutory business trusts created for the purpose of issuing capital securities. The Bank was founded in 1962 and offers a wide range of financial services. As of June 30, 2015, the Bank operated 21 branches in Southern California, 12 branches in Northern California, nine branches in New York State, three branches in Illinois, three branches in Washington State, two branches in Texas, one branch in Massachusetts, one branch in New Jersey, one branch in Nevada, one branch in Hong Kong, and a representative office in Shanghai and in Taipei. Deposit accounts at the Hong Kong branch are not insured by the Federal Deposit Insurance Corporation (the “FDIC”). |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 2. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the interim periods presented are not necessarily indicative of the results that may be expected for the year ending December 31, 2015. For further information, refer to the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. The preparation of the condensed 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 most significant estimates subject to change are the allowance for loan losses, goodwill impairment, and other-than-temporary impairment. |
Note 3 - Recent Accounting Pron
Note 3 - Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 3. Recent Accounting Pronouncements In June 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-12, “ Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period ASU 2014-15, “ Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In February 2015, the FASB issued ASU 2015-02, “ Consolidation (Topic 810): Amendments to the Consolidation Analysis ” In April 2015, the FASB issued ASU 2015-03, “ Interest- Imputation of Interest (Subtopic 835-30) |
Note 4 - Earnings per Share
Note 4 - Earnings per Share | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 4. Earnings per Share Basic earnings per share 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 earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock and resulted in the issuance of common stock that then shared in earnings. Outstanding stock options with anti-dilutive effect were not included in the computation of diluted earnings per share. The following table sets forth earnings per common share calculations: Three months ended June 30, Six months ended June 30, (Dollars in thousands, except share and per share data) 2015 2014 2015 2014 Net income $ 45,200 $ 35,084 $ 81,180 $ 66,343 Weighted-average shares: Basic weighted-average number of common shares outstanding 79,939,197 79,642,993 79,887,699 79,619,506 Dilutive effect of weighted-average outstanding common share equivalents Warrants 566,405 273,759 456,274 286,079 Options 139,867 97,476 124,249 99,575 Restricted stock units 53,525 32,243 37,043 37,786 Diluted weighted-average number of common shares outstanding 80,698,994 80,046,471 80,505,265 80,042,946 Average stock options and warrants with anti-dilutive effect 939,615 2,003,896 1,246,123 1,994,922 Earnings per common share: Basic $ 0.57 $ 0.44 $ 1.02 $ 0.83 Diluted $ 0.56 $ 0.44 $ 1.01 $ 0.83 |
Note 5 - Stock-Based Compensati
Note 5 - Stock-Based Compensation | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 5. Stock-Based Compensation Under the Company’s equity incentive plans, directors and eligible employees may be granted incentive or non-statutory stock options and/or restricted stock units, or awarded non-vested stock. As of June 30, 2015, the only options granted by the Company 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 during the first six months of 2015 or during 2014. Option compensation expense was zero for the three months and for the six months ended June 30, 2015, and June 30, 2014. Stock-based compensation was fully recognized over the requisite service period for all awards. Stock options covering 73,350 shares were exercised in the six months ended June 30, 2015, compared to zero in the six months ended June 30, 2014. Cash received totaled $1.7 million and the aggregate intrinsic value totaled $556,000 from the exercise of stock options during the first six months ended June 30, 2015. The table below summarizes stock option activity for the periods indicated: Weighted-average Aggregate Weighted-average Remaining Contractual Intrinsic Shares Exercise Price Life (in years) Value (in thousands) Balance, December 31, 2014 2,332,904 $ 32.34 1.2 $ 1,388 Exercised (3,750 ) 23.37 Forfeited (808,670 ) 35.63 Balance, March 31, 2015 1,520,484 $ 30.62 1.6 $ 3,156 Exercised (69,600 ) 23.37 Forfeited (267,884 ) 33.99 Balance, June 30, 2015 1,183,000 $ 30.37 1.5 $ 5,010 Exercisable, June 30, 2015 1,183,000 $ 30.37 1.5 $ 5,010 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. The Company granted restricted stock units for 72 ,900 shares at an average closing price of $28.11 per share in the first six months of 2015 compared to 17,601 shares at an average closing price of $24.66 per share in 2014. The restricted stock units granted are scheduled to vest two years from grant date for 2014 grants and to vest three years from grant date for 2015 grants. 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 next three years. In December 2014, the Company granted performance TSR restricted stock units for 60,456 shares and performance EPS restricted stock units for 57,642 shares to six executive officers. Both the performance TSR and performance EPS units awarded in 2014 are scheduled to vest at December 31, 2017. The following table presents restricted stock unit activity from December 31, 2014, to June 30, 2015: Units Balance at December 31, 2014 386,465 Granted 72,900 Vested (24,892 ) Forfeited (7,265 ) Balance at June 30, 2015 427,208 The compensation expense recorded for restricted stock units was $1.2 million for the three months ended June 30, 2015, compared to $1.0 million in the same period a year ago. For the six months ended June 30, compensation expense recorded related to the restricted stock units was $2.2 million in 2015 and $2.0 million in 2014. Unrecognized stock-based compensation expense related to restricted stock units was $6.3 million at June 30, 2015, and is expected to be recognized over the next 2.2 years. At June 30, 2015, 3,562,168 shares were available under the Company’s 2005 Incentive Plan (as Amended and Restated) for future grants. The following table summarizes the tax benefit (short-fall) from share-based payment arrangements: Three months ended June 30, Six months ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Short-fall of tax deductions in excess of grant-date fair value $ (1,224 ) $ 50 $ (5,619 ) $ (1,177 ) Benefit of tax deductions on grant-date fair value 1,554 (50 ) 6,146 1,177 Total benefit of tax deductions $ 330 $ - $ 527 $ - |
Note 6 - Investment Securities
Note 6 - Investment Securities | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 6. Investment Securities Investment securities were $1.55 billion at June 30, 2015, compared to $1.32 billion at December 31, 2014. The following tables reflect the amortized cost, gross unrealized gains, gross unrealized losses, and fair value of investment securities as of June 30, 2015, and December 31, 2014: June 30, 2015 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 299,911 $ 199 $ - $ 300,110 U.S. government sponsored entities 49,975 152 - 50,127 Mortgage-backed securities 1,110,298 759 9,654 1,101,403 Collateralized mortgage obligations 70 - 30 40 Corporate debt securities 74,949 528 1,078 74,399 Mutual funds 6,000 - 156 5,844 Preferred stock of government sponsored entities 2,811 733 - 3,544 Other equity securities 3,628 6,606 2 10,232 Total $ 1,547,642 $ 8,977 $ 10,920 $ 1,545,699 December 31, 2014 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 664,206 $ 63 $ 265 $ 664,004 Mortgage-backed securities 549,296 1,393 6,386 544,303 Collateralized mortgage obligations 79 - 34 45 Corporate debt securities 94,943 776 1,247 94,472 Mutual funds 6,000 - 134 5,866 Preferred stock of government sponsored entities 6,276 681 3,733 3,224 Other equity securities 3,608 3,413 - 7,021 Total $ 1,324,408 $ 6,326 $ 11,799 $ 1,318,935 The amortized cost and fair value of investment securities at June 30, 2015, 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 $ 299,913 $ 300,112 Due after one year through five years 88,156 89,227 Due after five years through ten years 45,607 44,609 Due after ten years (1) 1,113,966 1,111,751 Total $ 1,547,642 $ 1,545,699 (1) Equity securities are reported in this category Proceeds from sales of mortgage-backed securities were $573.5 million during the first six months of 2015 compared to $386.5 million during the same period a year ago. Proceeds from repayments, maturities and calls of mortgage-backed securities were $36.5 million during the first six months of 2015 compared to $39.6 million during the same period a year ago. Proceeds from sales of other investment securities were $385.2 million during the first six months of 2015 compared to $80.4 million during the same period a year ago. Proceeds from maturities and calls of other investment securities were zero during the first six months of 2015 compared to $135.8 million during the same period a year ago. Gains of $2.3 million and losses of $1.8 million were realized on sales of investment securities during the first six months of 2015 compared to gains of $12.8 million and losses of $6.3 million realized during the same period a year ago. The tables below show the fair value and unrealized losses of the temporarily impaired securities in our investment securities portfolio as of June 30, 2015, and December 31, 2014: June 30, 2015 Temporarily impaired securities Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Dollars in thousands) Securities Available-for-Sale Mortgage-backed securities $ 1,087,436 $ 9,653 $ 6 $ 1 $ 1,087,442 $ 9,654 Collateralized mortgage obligations - - 40 30 40 30 Corporate debt securities - - 43,922 1,078 43,922 1,078 Mutual funds - - 5,844 156 5,844 156 Other equity securities 18 2 - - 18 2 Total $ 1,087,454 $ 9,655 $ 49,812 $ 1,265 $ 1,137,266 $ 10,920 December 31, 2014 Temporarily impaired securities Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Dollars in thousands) Securities Available-for-Sale U.S. treasury securities $ 374,153 $ 265 $ - $ - $ 374,153 $ 265 Mortgage-backed securities - - 425,090 6,386 425,090 6,386 Collateralized mortgage obligations - - 45 34 45 34 Corporate debt securities - - 63,753 1,247 63,753 1,247 Mutual funds - - 5,866 134 5,866 134 Preferred stock of government sponsored entities 2,448 3,733 - - 2,448 3,733 Total $ 376,601 $ 3,998 $ 494,754 $ 7,801 $ 871,355 $ 11,799 Total unrealized losses of $10.9 million at June 30, 2015, were primarily caused by increases in interest rates subsequent to the date that these securities were purchased or 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. At June 30, 2015, management believed the impairment was temporary and, accordingly, no impairment loss on debt securities has been recognized in our condensed consolidated statements of operations. The Company expects to recover the amortized cost basis of its debt securities, and has 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. Investment securities having a carrying value of $519.2 million at June 30, 2015, and $591.3 million at December 31, 2014, were pledged to secure public deposits, other borrowings, treasury tax and loan, and securities sold under agreements to repurchase. |
Note 7 - Loans
Note 7 - Loans | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 7. Loans Most of the Company’s business activity is with Asian customers located in Southern and Northern California; New York City, New York; Houston and Dallas, Texas; Seattle, Washington; Boston, Massachusetts; Chicago, Illinois; Edison, New Jersey; Las Vegas, Nevada, and Hong Kong. The Company has no specific industry concentration, and generally its loans are secured by real property or other collateral of the borrowers. Loans are generally expected to be paid off from the operating profits of the borrowers, from refinancing by other lenders, or through sale by the borrowers of the secured collateral. The components of loans in the condensed consolidated balance sheets as of June 30, 2015, and December 31, 2014, were as follows: June 30, 2015 December 31, 2014 (In thousands) Type of Loans: Commercial loans $ 2,387,450 $ 2,382,493 Residential mortgage loans 1,713,312 1,570,059 Commercial mortgage loans 4,849,381 4,486,443 Equity lines 176,067 172,879 Real estate construction loans 370,828 298,654 Installment and other loans 4,970 3,552 Gross loans $ 9,502,008 $ 8,914,080 Less: Allowance for loan losses (153,437 ) (161,420 ) Unamortized deferred loan fees (10,207 ) (12,392 ) Total loans, net $ 9,338,364 $ 8,740,268 Loans held for sale $ - $ 973 At June 30, 2015, recorded investment in impaired loans totaled $166.1 million and was comprised of non-accrual loans of $66.1 million and accruing troubled debt restructured loans (“TDRs) of $100.0 million. At December 31, 2014, recorded investment in impaired loans totaled $174.5 million and was comprised of non-accrual loans of $70.2 million and accruing TDRs of $104.3 million. For impaired loans, the amounts previously charged off represent 18.6% at June 30, 2015, and 17.1% at December 31, 2014, of the contractual balances for impaired loans. The following table presents the average balance and interest income recognized related to impaired loans for the periods indicated: Impaired Loans Average Recorded Investment Interest Income Recognized Three months ended Six months ended Three months ended Six months ended June 30, June 30, June 30, June 30, 2015 2014 2015 2014 2015 2014 2015 2014 (In thousands) Commercial loans $ 25,620 $ 27,773 $ 25,523 $ 29,300 $ 201 $ 194 $ 412 $ 420 Real estate construction loans 20,790 33,049 21,884 33,552 65 66 130 132 Commercial mortgage loans 105,815 112,982 108,042 112,148 793 995 1,574 2,014 Residential mortgage loans and equity lines 17,025 18,392 17,152 18,772 120 93 240 192 Total impaired loans $ 169,250 $ 192,196 $ 172,601 $ 193,772 $ 1,179 $ 1,348 $ 2,356 $ 2,758 The following table presents impaired loans and the related allowance for credit losses as of the dates indicated: Impaired Loans June 30, 2015 December 31, 2014 Unpaid Principal Balance Recorded Investment Allowance Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance Commercial loans $ 17,657 $ 14,055 $ - $ 19,479 $ 18,452 $ - Real estate construction loans 48,790 22,586 - 32,924 17,025 - Commercial mortgage loans 81,845 76,053 - 77,474 75,172 - Residential mortgage loans and equity lines 2,473 2,473 - 2,518 2,518 - Subtotal $ 150,765 $ 115,167 $ - $ 132,395 $ 113,167 $ - With allocated allowance Commercial loans $ 9,910 $ 9,661 $ 966 $ 7,003 $ 5,037 $ 1,263 Real estate construction loans - - - 19,006 8,703 1,077 Commercial mortgage loans 28,332 26,822 6,554 38,197 34,022 8,993 Residential mortgage loans and equity lines 14,958 14,414 464 14,019 13,590 465 Subtotal $ 53,200 $ 50,897 $ 7,984 $ 78,225 $ 61,352 $ 11,798 Total impaired loans $ 203,965 $ 166,064 $ 7,984 $ 210,620 $ 174,519 $ 11,798 The following tables present the aging of the loan portfolio by type as of June 30, 2015, and as of December 31, 2014: June 30, 2015 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Non-accrual Loans Total Past Due Loans Not Past Due Total (In thousands) Type of Loans: Commercial loans $ 17,641 $ 2,138 $ - $ 7,878 $ 27,657 $ 2,359,793 $ 2,387,450 Real estate construction loans - - - 16,856 16,856 353,972 370,828 Commercial mortgage loans 4,132 3,151 - 33,271 40,554 4,808,827 4,849,381 Residential mortgage loans and equity lines - 234 - 8,047 8,281 1,881,098 1,889,379 Installment and other loans - - - - - 4,970 4,970 Total loans $ 21,773 $ 5,523 $ - $ 66,052 $ 93,348 $ 9,408,660 $ 9,502,008 December 31, 2014 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Non-accrual Loans Total Past Due Loans Not Past Due Total (In thousands) Type of Loans: Commercial loans $ 11,595 $ 1,238 $ - $ 6,983 $ 19,816 $ 2,362,677 2,382,493 Real estate construction loans 1,416 - - 19,963 21,379 277,275 298,654 Commercial mortgage loans 17,654 3,909 - 35,606 57,169 4,429,274 4,486,443 Residential mortgage loans and equity lines 5,634 732 - 7,611 13,977 1,728,961 1,742,938 Installment and other loans 60 - - - 60 3,492 3,552 Total loans $ 36,359 $ 5,879 $ - $ 70,163 $ 112,401 $ 8,801,679 $ 8,914,080 The determination of the amount of the allowance for credit losses for impaired 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 collectability 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 troubled debt restructurings since they are considered to be impaired loans. A troubled debt restructuring 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 a change in the stated interest rate, a reduction in the loan balance or accrued interest, or an extension of the maturity date that causes significant delay in payment. TDRs on accrual status are comprised of the loans that 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. At June 30, 2015, accruing TDRs were $100.0 million and non-accrual TDRs were $42.6 million compared to accruing TDRs of $104.3 million and non-accrual TDRs of $41.6 million at December 31, 2014. The Company allocated specific reserves of $1.4 million to accruing TDRs and $5.8 million to non-accrual TDRs at June 30, 2015, and $6.5 million to accruing TDRs and $4.9 million to non-accrual TDRs at December 31, 2014. The following tables present TDRs that were modified during the first six months of 2015 and of 2014, their specific reserve s at June 30, 2015, and 2014, and charge-off s during the first six months of 2015 and of 2014: Six months ended June 30, 2015 June 30, 2015 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (Dollars in thousands) Commercial loans 1 $ 850 $ 850 $ - $ - Commercial mortgage loans 4 14,411 14,411 - 40 Residential mortgage loans and equity lines 4 1,522 1,374 148 43 Total 9 $ 16,783 $ 16,635 $ 148 $ 83 Six months ended June 30, 2014 June 30, 2014 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (Dollars in thousands) Commercial loans 3 8,490 8,490 $ - $ 20 Residential mortgage loans and equity lines 3 1,393 1,393 - 32 Total 6 $ 9,883 $ 9,883 $ - $ 52 Modifications of the loan terms during the first six months of 2015 were in the form of changes in the stated interest rate, and/or extension of maturity dates, and/or reduction in monthly payment amount. The length of time for which modifications involving a reduction of the stated interest rate or changes in payment terms that were documented ranged from six months to three years from the modification date. We expect that the TDRs on accruing status as of June 30, 2015, which were 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. A summary of TDRs by type of concession and by type of loan, as of June 30, 2015, and December 31, 2014, is shown below: June 30, 2015 Accruing TDRs Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Commercial loans $ 12,386 $ 1,496 $ 1,957 $ 15,839 Real estate construction loans - - 5,730 5,730 Commercial mortgage loans 29,465 6,082 34,055 69,602 Residential mortgage loans 5,088 1,005 2,747 8,840 Total accruing TDRs $ 46,939 $ 8,583 $ 44,489 $ 100,011 June 30, 2015 Non-accrual TDRs Payment Deferral Rate Reduction and Payment Deferral Total (In thousands) Commercial loans $ 2,272 $ - $ 2,272 Real estate construction loans 10,366 5,990 16,356 Commercial mortgage loans 1,566 20,540 22,106 Residential mortgage loans 611 1,250 1,861 Total non-accrual TDRs $ 14,815 $ 27,780 $ 42,595 December 31, 2014 Accruing TDRs Payment Deferral Rate Reduction Rate Reduction and Forgiveness of Principal Rate Reduction and Payment Deferral Total Commercial loans $ 11,572 $ - $ - $ 4,934 $ 16,506 Real estate construction loans 5,765 - - - 5,765 Commercial mortgage loans 20,543 26,694 - 26,351 73,588 Residential mortgage loans 3,316 - 410 4,771 8,497 Total accruing TDRs $ 41,196 $ 26,694 $ 410 $ 36,056 $ 104,356 December 31, 2014 Non-accrual TDRs Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Commercial loans $ 1,423 $ 860 $ 1,269 $ 3,552 Real estate construction loans - - 19,462 19,462 Commercial mortgage loans 15,917 - 973 16,890 Residential mortgage loans 1,026 - 688 1,714 Total non-accrual TDRs $ 18,366 $ 860 $ 22,392 $ 41,618 The activity within our TDRs for the periods indicated are shown below: Three months ended June 30, Six months ended June 30, Accruing TDRs 2015 2014 2015 2014 (In thousands) Beginning balance $ 100,393 $ 118,922 $ 104,356 $ 117,597 New restructurings 5,798 722 16,426 8,097 Restructured loans restored to accrual status - - - 962 Charge-offs - - (148 ) - Payments (6,180 ) (1,278 ) (10,434 ) (8,290 ) Restructured loans placed on nonaccrual - (7,230 ) (10,189 ) (7,230 ) Ending balance $ 100,011 $ 111,136 $ 100,011 $ 111,136 Three months ended June 30, Six months ended June 30, Non-accrual TDRs 2015 2014 2015 2014 (In thousands) Beginning balance $ 44,541 $ 37,797 $ 41,618 $ 38,769 New restructurings - 247 209 1,786 Restructured loans placed on nonaccrual - 7,230 10,189 7,230 Charge-offs (489 ) (595 ) (3,243 ) (599 ) Payments (1,457 ) (1,074 ) (6,178 ) (2,619 ) Restructured loans restored to accrual status - - - (962 ) Ending balance $ 42,595 $ 43,605 $ 42,595 $ 43,605 A loan is considered to be in payment default once it is 60 to 90 days contractually past due under the modified terms. The Company had one commercial mortgage loan in the amount of $9.6 million that was modified as a TDR during the previous twelve months and which subsequently defaulted as of June 30, 2015. The Company had previously taken a charge off in the amount of $598,000 on this same commercial mortgage loan during the previous twelve months. 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 June 30, 2015, there were no commitments to lend additional funds to those borrowers whose loans had 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. The risk rating categories can be generally described by the following grouping for non-homogeneous loans: ● Pass/Watch – ● Special Mention – ● Substandard – ● Doubtful – ● Loss – The Company had no loans held for sale as of June 30, 2015. The following tables present the loan portfolio by risk rating as of June 30, 2015, and as of December 31, 2014: June 30, 2015 Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Commercial loans $ 2,251,083 $ 64,655 $ 70,240 $ 1,472 $ 2,387,450 Real estate construction loans 348,242 - 22,086 500 370,828 Commercial mortgage loans 4,580,231 114,663 144,897 9,590 4,849,381 Residential mortgage loans and equity lines 1,879,108 - 10,271 - 1,889,379 Installment and other loans 4,970 - - - 4,970 Total gross loans $ 9,063,634 $ 179,318 $ 247,494 $ 11,562 $ 9,502,008 December 31, 2014 Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Commercial loans $ 2,260,474 $ 47,619 $ 72,561 $ 1,839 $ 2,382,493 Real estate construction loans 272,927 - 25,227 500 298,654 Commercial mortgage loans 4,213,453 105,970 167,020 - 4,486,443 Residential mortgage loans and equity lines 1,733,248 - 9,690 - 1,742,938 Installment and other loans 3,552 - - - 3,552 Total gross loans $ 8,483,654 $ 153,589 $ 274,498 $ 2,339 $ 8,914,080 Loans held for sale $ - $ - $ 973 $ - $ 973 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 June 30, 2015, and as of December 31, 2014: Residential Real Estate Commercial Mortgage Loans Commercial Construction Mortgage and Equity Installment and Loans Loans Loans Lines Other Loans Total (In thousands) June 30, 2015 Loans individually evaluated for impairment Allowance $ 966 $ - $ 6,554 $ 464 $ - $ 7,984 Balance $ 23,717 $ 22,586 $ 102,874 $ 16,887 $ - $ 166,064 Loans collectively evaluated for impairment Allowance $ 46,574 $ 26,304 $ 60,691 $ 11,859 $ 25 $ 145,453 Balance $ 2,363,733 $ 348,242 $ 4,746,507 $ 1,872,492 $ 4,970 $ 9,335,944 Total allowance $ 47,540 $ 26,304 $ 67,245 $ 12,323 $ 25 $ 153,437 Total balance $ 2,387,450 $ 370,828 $ 4,849,381 $ 1,889,379 $ 4,970 $ 9,502,008 December 31, 2014 Loans individually evaluated for impairment Allowance $ 1,263 $ 1,077 $ 8,993 $ 465 $ - $ 11,798 Balance $ 23,489 $ 25,728 $ 109,194 $ 16,108 $ - $ 174,519 Loans collectively evaluated for impairment Allowance $ 46,238 $ 26,575 $ 65,680 $ 11,113 $ 16 $ 149,622 Balance $ 2,359,004 $ 272,926 $ 4,377,249 $ 1,726,830 $ 3,552 $ 8,739,561 Total allowance $ 47,501 $ 27,652 $ 74,673 $ 11,578 $ 16 $ 161,420 Total balance $ 2,382,493 $ 298,654 $ 4,486,443 $ 1,742,938 $ 3,552 $ 8,914,080 The following tables detail activity in the allowance for loan losses by portfolio segment for the three months and six months ended June 30, 2015, and June 30, 2014. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. Three months ended June 30, 2015 and 2014 Real Estate Commercial Residential Installment Commercial Construction Mortgage Mortgage Loans and Other Loans Loans Loans and Equity Lines Loans Total (In thousands) March 31, 2015 Ending Balance $ 49,705 $ 23,270 $ 71,318 $ 11,777 $ 19 156,089 Provision/(credit) for possible credit losses 184 2,982 (5,880 ) 559 5 (2,150 ) Charge-offs (2,580 ) - (65 ) (13 ) - (2,658 ) Recoveries 231 52 1,872 - 1 2,156 Net (charge-offs)/recoveries (2,349 ) 52 1,807 (13 ) 1 (502 ) June 30, 2015 Ending Balance $ 47,540 $ 26,304 $ 67,245 $ 12,323 $ 25 $ 153,437 March 31, 2014 Ending Balance $ 64,782 $ 10,626 $ 81,326 $ 12,377 $ 27 $ 169,138 Provision/(credit) for possible credit losses (6,111 ) 742 1,185 493 (9 ) (3,700 ) Charge-offs (114 ) (1,813 ) (648 ) - - (2,575 ) Recoveries 4,682 - 1,532 - - 6,214 Net (charge-offs)/recoveries 4,568 (1,813 ) 884 - - 3,639 June 30, 2014 Ending Balance $ 63,239 $ 9,555 $ 83,395 $ 12,870 $ 18 $ 169,077 Six months ended June 30, 2015 and 2014 Real Estate Commercial Residential Installment Commercial Construction Mortgage Mortgage Loans and Other Loans Loans Loans and Equity Lines Loans Total (In thousands) 2015 Beginning Balance $ 47,501 $ 27,652 $ 74,673 $ 11,578 $ 16 $ 161,420 Provision/(credit) for possible credit losses 1,005 (1,470 ) (7,580 ) 886 9 (7,150 ) Charge-offs (3,444 ) - (3,516 ) (161 ) - (7,121 ) Recoveries 2,478 122 3,668 20 - 6,288 Net (charge-offs)/recoveries (966 ) 122 152 (141 ) - (833 ) June 30, 2015 Ending Balance $ 47,540 $ 26,304 $ 67,245 $ 12,323 $ 25 $ 153,437 Reserve for impaired loans $ 966 $ - $ 6,554 $ 464 $ - $ 7,984 Reserve for non-impaired loans $ 46,574 $ 26,304 $ 60,691 $ 11,859 $ 25 $ 145,453 Reserve for off-balance sheet credit commitments $ - $ - $ - $ - $ - $ - 2014 Beginning Balance $ 65,103 $ 11,999 $ 84,753 $ 12,005 $ 29 $ 173,889 Provision/(credit) for possible credit losses (1,228 ) (656 ) (3,041 ) 865 (11 ) (4,071 ) Charge-offs (7,340 ) (1,813 ) (2,424 ) - - (11,577 ) Recoveries 6,704 25 4,107 - - 10,836 Net (charge-offs)/recoveries (636 ) (1,788 ) 1,683 - - (741 ) June 30, 2014 Ending Balance $ 63,239 $ 9,555 $ 83,395 $ 12,870 $ 18 $ 169,077 Reserve for impaired loans $ 2,717 $ 143 $ 6,230 $ 519 $ - $ 9,609 Reserve for non-impaired loans $ 60,522 $ 9,412 $ 77,165 $ 12,351 $ 18 $ 159,468 Reserve for off-balance sheet credit commitments $ 1,014 $ 391 $ 401 $ 36 $ 2 $ 1,844 |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | 8. Commitments and Contingencies The Company is involved in various litigation concerning transactions entered into in 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. Although the Company establishes accruals for legal proceedings when information related to the loss contingencies represented by those matters indicates both that a loss is probable and that the amount of loss can be reasonably estimated, the Company does not have accruals for all legal proceedings where there is a risk of loss. In addition, amounts accrued may not represent the ultimate loss to the Company from the legal proceedings in question. Thus, ultimate losses may be higher or lower, and possibly significantly so, than the amounts accrued for legal loss contingencies. 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. These instruments represent varying degrees of exposure to risk in excess of the amounts included in the accompanying condensed 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. |
Note 9 - Borrowed Funds
Note 9 - Borrowed Funds | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | 9. Borrowed Funds Securities Sold Under Agreements to Repurchase. These transactions are accounted for as collateralized financing transactions and recorded at the amounts at which the securities were sold. The Company 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 $448.2 million as of June 30, 2015, and $516.3 million as of December 31, 2014. Borrowing from the FHLB. |
Note 10 - Income Taxes
Note 10 - Income Taxes | 6 Months Ended |
Jun. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | 10. Income Taxes Income tax expense totaled $31.1 million, or an effective tax rate of 27.7%, for the first six months of 2015, compared to an income tax expense of $38.6 million, or an effective tax rate of 36.8%, for the same period a year ago. The effective tax rate includes the impact of the utilization of low income housing tax credits for both periods. At June 30, 2015, the Company forecasted its effective tax rate for the full year 2015 to be 27.7%, including the utilization of alternative energy tax credits generated from an investment made in April 2015, and applied the forecasted full year effective tax rate to the results of operations for the first six months of 2015. As of December 31, 2014, the Company had income tax refunds receivable of $18.1 million. These income tax receivables are included in other assets in the accompanying condensed consolidated balance sheets. The Company’s tax returns are open for audit by the Internal Revenue Service back to 2011 and by the California Franchise Tax Board back to 2003. The Company is under audit by the California |
Note 11 - Fair Value Measuremen
Note 11 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | 11. 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 judgment 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 Warrants Foreign Exchange Contracts Interest Rate Swaps The valuation techniques for the assets and liabilities valued on a nonrecurring basis are as follows: Impaired Loans. Goodwill. — Commercial Lending and Retail Banking. 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. In connection with the determination of fair value, certain data and information is 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 a Level 3 measurement. Core Deposit Intangibles. Other Real Estate Owned. Investments in Venture Capital. Equity Investments The following tables present the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of June 30, 2015, and December 31, 2014: June 30, 2015 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 $ 300,110 $ - $ - $ 300,110 U.S. government sponsored entities 50,127 - 50,127 Mortgage-backed securities - 1,101,403 - 1,101,403 Collateralized mortgage obligations - 40 - 40 Corporate debt securities - 74,399 - 74,399 Mutual funds 5,844 - - 5,844 Preferred stock of government sponsored entities - 3,544 - 3,544 Other equity securities - 10,232 - 10,232 Total securities available-for-sale 305,954 1,239,745 - 1,545,699 Warrants - - 32 32 Foreign exchange contracts - 2,326 - 2,326 Total assets $ 305,954 $ 1,242,071 $ 32 $ 1,548,057 Liabilities Interest rate swaps $ - $ 4,095 $ - $ 4,095 Foreign exchange contracts - 3,201 - 3,201 Total liabilities $ - $ 7,296 $ - $ 7,296 December 31, 2014 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 $ 664,004 $ - $ - $ 664,004 Mortgage-backed securities - 544,303 - 544,303 Collateralized mortgage obligations - 45 - 45 Corporate debt securities - 94,472 - 94,472 Mutual funds 5,866 - - 5,866 Preferred stock of government sponsored entities - 3,224 - 3,224 Other equity securities - 7,021 - 7,021 Total securities available-for-sale 669,870 649,065 - 1,318,935 Warrants - - 27 27 Foreign exchange contracts - 1,876 - 1,876 Total assets $ 669,870 $ 650,941 $ 27 $ 1,320,838 Liabilities Interest rate swaps $ - $ 4,626 $ - $ 4,626 Foreign exchange contracts - 5,007 - 5,007 Total liabilities $ - $ 9,633 $ - $ 9,633 The Company measured the fair value of its warrants on a recurring basis using significant unobservable inputs. The fair value of warrants was $32,000 at June 30, 2015, compared to $27,000 at December 31, 2014. The fair value adjustment of warrants was included in other operating income in the second quarter of 2015. The significant unobservable inputs in the Black-Scholes option pricing model for the fair value of warrants are their expected life ranging from 1 to 5 years, risk-free interest rate from 0.65% to 1.65%, and stock volatility from 10.0% to 13.7%. For financial assets measured at fair value on a nonrecurring basis that were still reflected in the condensed consolidated balance sheets at June 30, 2015, the following tables provide the level of valuation assumptions used to determine each adjustment, the carrying value of the related individual assets as of June 30, 2015, and December 31, 2014, and the total losses/(gains) for the periods indicated: June 30, 2015 Total Losses Fair Value Measurements Using Total at Three Months Ended Six Months Ended Level 1 Level 2 Level 3 Fair Value June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 (In thousands) Assets Impaired loans by type: Commercial loans $ - $ - $ 8,955 $ 8,955 $ 2,574 $ 17 $ 2,805 $ 17 Commercial mortgage loans - - 20,268 20,268 - - 654 - Residential mortgage loans and equity lines - - 13,950 13,950 - - 146 - Total impaired loans - - 43,173 43,173 2,574 17 3,605 17 Other real estate owned (1) - 8,017 4,236 12,253 44 142 225 325 Investments in venture capital - - 5,371 5,371 103 157 327 268 Total assets $ - $ 8,017 $ 52,780 $ 60,797 $ 2,721 $ 316 $ 4,157 $ 610 (1) Other real estate owned balance of $23.8 million in the condensed consolidated balance sheet is net of estimated disposal costs. December 31, 2014 Total Losses / (Gains) Fair Value Measurements Using Twelve Months Ended Level 1 Level 2 Level 3 Total at Fair Value December 31, 2014 December 31, 2013 (In thousands) Assets Impaired loans by type: Commercial loans $ - $ - $ 3,774 $ 3,774 $ 17 $ 5,731 Commercial mortgage loans - - 25,029 25,029 3,914 125 Construction- other - - 7,625 7,625 - - Residential mortgage loans and equity lines - - 13,126 13,126 27 213 Total impaired loans - - 49,554 49,554 3,958 6,069 Other real estate owned (1) - 16,458 4,110 20,568 202 (3,134 ) Investments in venture capital - - 5,495 5,495 436 409 Equity investments 617 - - 617 - - Total assets $ 617 $ 16,458 $ 59,159 $ 76,234 $ 4,596 $ 3,344 (1) Other real estate owned balance of $31.5 million in the consolidated balance sheet 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 nine 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 55% 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 loans held for sale was primarily based on the quoted price or sale price adjusted by estimated sales cost and commissions. 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 commissions ranging from 3% to 6% to collateral value of impaired loans, quoted price, or loan sale price of loans held for sale, and appraised value of OREO. |
Note 12 - Fair Value of Financi
Note 12 - Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | 12. 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. Short-term Investments. Securities Purchased under Agreements to Resell. Securities. Loans H eld for S ale Loans. 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 or adjusted appraised of the collateral, a Level 2 or Level 3 measurement. Deposit Liabilities. Securities Sold under Agreements to Repurchase. Advances from Federal Home Loan Bank . Other Borrowings. Long-term Debt. Foreign Exchange Contracts Interest Rate Swaps Off-Balance-Sheet Financial Instruments. Fair value was estimated in accordance with ASC Topic 825. 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. The following table presents the carrying and notional amounts and estimated fair value of financial instruments as of June 30, 2015, and as of December 31, 2014: June 30, 2015 December 31, 2014 Carrying Carrying Amount Fair Value Amount Fair Value (In thousands) Financial Assets Cash and due from banks $ 166,933 $ 166,933 $ 176,830 $ 176,830 Short-term investments 48,711 48,711 489,614 489,614 Securities available-for-sale 1,545,699 1,545,699 1,318,935 1,318,935 Loans held for sale - - 973 1,225 Loans, net 9,338,364 9,271,167 8,740,268 8,688,072 Investment in Federal Home Loan Bank stock 17,250 17,250 30,785 30,785 Warrants 32 32 27 27 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts $ 193,066 $ 2,326 $ 167,005 $ 1,876 Financial Liabilities Carrying Carrying Amount Fair Value Amount Fair Value Deposits $ 9,338,863 $ 9,341,551 $ 8,783,460 $ 8,785,342 Securities sold under agreements to repurchase 400,000 419,915 450,000 473,816 Advances from Federal Home Loan Bank 210,000 210,020 425,000 424,974 Other borrowings 20,261 17,571 19,934 17,978 Long-term debt 119,136 59,015 119,136 59,425 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts $ 188,048 $ 3,201 $ 178,868 $ 5,007 Interest rate swaps 298,538 4,095 300,480 4,626 Notional Notional Amount Fair Value Amount Fair Value Off-Balance Sheet Financial Instruments Commitments to extend credit $ 2,003,486 $ (4,123 ) $ 2,071,766 $ (3,442 ) Standby letters of credit 50,293 (202 ) 53,910 (243 ) Other letters of credit 57,204 (35 ) 48,142 (29 ) Bill of lading guarantees 199 (1 ) 108 - The following tables present the level in the fair value hierarchy for the estimated fair values of financial instruments as of June 30, 2015, and December 31, 2014. June 30, 2015 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 166,933 $ 166,933 $ - $ - Short-term investments 48,711 48,711 - - Securities available-for-sale 1,545,699 305,954 1,239,745 - Loans, net 9,271,167 - - 9,271,167 Investment in Federal Home Loan Bank stock 17,250 - 17,250 - Warrants 32 - - 32 Financial Liabilities Deposits 9,341,551 - - 9,341,551 Securities sold under agreements to repurchase 419,915 - 419,915 - Advances from Federal Home Loan Bank 210,020 - 210,020 - Other borrowings 17,571 - - 17,571 Long-term debt 59,015 - 59,015 - December 31, 2014 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 176,830 $ 176,830 $ - $ - Short-term investments 489,614 489,614 - - Securities available-for-sale 1,318,935 669,870 649,065 - Loans held-for-sale 1,225 - - 1,225 Loans, net 8,688,072 - - 8,688,072 Investment in Federal Home Loan Bank stock 30,785 - 30,785 - Warrants 27 - - 27 Financial Liabilities Deposits 8,785,342 - - 8,785,342 Securities sold under agreements to repurchase 473,816 - 473,816 - Advances from Federal Home Loan Bank 424,974 - 424,974 - Other borrowings 17,978 - - 17,978 Long-term debt 59,425 - 59,425 - |
Note 13 - Goodwill and Goodwill
Note 13 - Goodwill and Goodwill Impairment | 6 Months Ended |
Jun. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | 13. Goodwill and Goodwill Impairment 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. 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, if needed, begins by assigning net assets and goodwill to our two reporting units — Commercial Lending and Retail Banking. 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. At June 30, 2015, the Company’s market capitalization was above book value and there was no triggering event that required the Company to assess goodwill for impairment as of an interim date. |
Note 14 - Financial Derivatives
Note 14 - Financial Derivatives | 6 Months Ended |
Jun. 30, 2015 | |
Derivative Instrument Detail [Abstract] | |
Schedule of Derivative Instruments [Table Text Block] | 14. 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 our interest-earning assets and interest-bearing liabilities. We believe 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 enter into interest rate swap contracts or other types of financial derivatives. 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 must be approved by the Bank’s Investment Committee. The Company follows ASC Topic 815 that establishes 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 sheet 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. Fair value is determined using third-party models with observable market data. For derivatives designated as cash flow hedges, changes in fair value are recognized in other comprehensive income and are reclassified to earnings when the hedged transaction is reflected in earnings. For derivatives designated as fair value hedges, changes in the fair value of the derivatives are reflected in current earnings, together with changes in the fair value of the related hedged item if there is a highly effective correlation between changes in the fair value of the interest rate swaps and changes in the fair value of the underlying asset or liability that is intended to be hedged. If there is not a highly effective correlation between changes in the fair value of the interest rate swap and changes in the fair value of the underlying asset or liability that is intended to be hedged, then only the changes in the fair value of the interest rate swaps are reflected in the Company’s consolidated financial statements. In May 2014, Bancorp entered into five interest rate swap contracts in the notional amount of $119.1 million for a period of ten years. The objective of these interest rate swap contracts, which were designated as hedging instruments in cash flow hedges, was to hedge on Bancorp’s $119.1 million of Junior Subordinated Debentures that had been issued to five trusts, the quarterly interest payments throughout the ten-year period beginning in June 2014 and ending in June 2024, from the risk of variability of these payments resulting from changes in the three-month LIBOR interest rate. Bancorp pays a weighted average fixed interest rate of 2.61% and receives a variable interest rate of the three-month LIBOR at a weighted average rate of 0.28%. As of June 30, 2015, the notional amount of cash flow interest rate swaps was $119.1 million and their unrealized loss of $1.7 million, net of taxes, was included in other comprehensive income. The amount of periodic net settlement of interest rate swaps included in interest expense was $703,000 for the three months ended June 30,2015 compared to $101,000 for the same quarter a year ago. For the six months ended June 30, 2015, the periodic net settlement of interest rate swaps included in interest expense was $1.4 million compared to $101,000 for the same period in 2014. In June 2014, the Bank entered into ten interest rate swap contracts in the notional amount of $148.1 million for various terms from four to eight years. In October 2014, the Bank entered into four additional interest rate swap contracts in the notional amount of $34.9 million. These interest rate swap contracts that are matched to individual fixed-rate commercial real estate loans in the Bank’s loan portfolio. These contracts have been designated as hedging instruments to hedge the risk of changes in the fair value of the underlying commercial real estate loan due to changes in interest rates. The swap contracts are structured so that the notional amounts reduce over time to match the contractual amortization of the underlying loan and allow prepayments with the same pre-payment penalty amounts as the related loan. The Bank pays a weighted average fixed rate of 4.60% and receives a variable rate at the one month LIBOR rate plus a weighted average spread of 292 basis points, or at a weighted average rate of 3.11%. As of June 30, 2015, the notional amount of fair value interest rate swaps was $179.4 million and their unrealized loss of $1.2 million was included in other non-interest income. The amount of periodic net settlement of interest rate swaps reducing interest income was $682,000 for the three months ended June 30, 2015, compared to $26,000 for the same quarter a year ago. The amount of periodic net settlement of interest rate swaps reducing interest income was $1.4 million for the six months ended June 30, 2015 compared to $26,000 for the same period a year ago. As of June 30, 2015, the ineffective portion of these interest rate swaps was not significant. Interest rate swap contracts involve the risk of dealing with institutional derivative counterparties and their ability to meet contractual terms. Institutional counterparties must have a strong credit profile and be approved by the Company’s Board of Directors. The Company’s credit exposure on interest rate swaps is limited to the net favorable value and interest payments of all swaps by each counterparty. Credit exposure may be reduced by the amount of collateral pledged by the counterparty. Bancorp’s interest rate swaps have been assigned by the counterparties to a derivatives clearing organization and daily margin is indirectly maintained with the derivatives clearing organization. Cash posted as collateral by Bancorp related to derivative contracts totaled $7.2 million as of June 30, 2015. The Company enters into foreign exchange forward contracts with various counterparties to mitigate the risk of fluctuations in foreign currency exchange rates for foreign exchange certificates of deposit or foreign exchange contracts entered into with our clients. These contracts are not designated as hedging instruments and are recorded at fair value in our condensed consolidated balance sheets. Changes in the fair value of these contracts as well as the related foreign exchange certificates of deposit and foreign exchange 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 June 30, 2015, spot, forward, and swap contracts in the total notional amount of $193.1 million had a positive fair value of $2.3 million. Spot, forward, and swap contracts in the total notional amount of $188.0 million had a negative fair value of $3.2 million at June 30, 2015. At December 31, 2014, spot, forward, and swap contracts in the total notional amount of $167.0 million had a positive fair value of $1.9 million. Spot, forward, and swap contracts in the total notional amount of $178.9 million had a negative fair value of $5.0 million at December 31, 2014. |
Note 15 - Balance Sheet Offsett
Note 15 - Balance Sheet Offsetting | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Supplemental Balance Sheet Disclosures [Text Block] | 15. 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 counterparties 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 June 30, 2015, and December 31, 2014, are presented in the following table: Gross Amounts Not Offset in the Balance Sheet Gross Amounts of Recognized Gross Amounts Offset in the Balance Sheet Net Amounts Presented in the Balance Sheet Financial Instruments Collateral Posted Net Amount (In thousands) June 30, 2015 Liabilities: Securities sold under agreements to repurchase $ 400,000 $ - $ 400,000 $ - $ (400,000 ) $ - Derivatives $ 4,095 $ - $ 4,095 $ - $ (4,095 ) $ - December 31, 2014 Liabilities: Securities sold under agreements to repurchase $ 450,000 $ - $ 450,000 $ - $ (450,000 ) $ - Derivatives $ 4,626 $ - $ 4,626 $ - $ (4,626 ) $ - |
Note 16 - Stockholders' Equity
Note 16 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2015 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | 16. Stockholders’ Equity Total equity was $1.67 billion at June 30, 2015, an increase of $66.2 million, or 4.1%, from $1.60 billion at December 31, 2014, primarily due to increases in net income of $81.2 million and in other comprehensive income of $2.8 million offset by common stock cash dividends of $19.2 million. Activity in accumulated other comprehensive income, net of tax, and reclassification out of accumulated other comprehensive income for the three months and six months ended June 30, 2015, and June 30, 2014, was as follows: Three months ended June 30, 2015 Three months ended June 30, 2014 Pre-tax Tax expense/ (benefit) Net-of-tax Pre-tax Tax expense/ (benefit) Net-of-tax (In thousands) Beginning balance, loss, net of tax Securities available-for sale $ 3,339 $ (22,090 ) Cash flow hedge derivatives (3,985 ) - Total $ (646 ) $ (22,090 ) Net unrealized gains/(losses) arising during the period Securities available-for sale $ (11,034 ) $ (4,639 ) $ (6,395 ) $ 23,724 $ 9,974 $ 13,750 Cash flow hedge derivatives 4,017 1,689 2,328 (454 ) (191 ) (263 ) Total (7,017 ) (2,950 ) (4,067 ) 23,270 9,783 $ 13,487 Reclassification adjustment for net losses/(gains) in net income Securities available-for sale 3,332 1,401 1,931 (506 ) (213 ) (293 ) Cash flow hedge derivatives - - - - - - Total 3,332 1,401 1,931 (506 ) (213 ) (293 ) Total other comprehensive income/(loss) Securities available-for sale (7,702 ) (3,238 ) (4,464 ) 23,218 9,761 13,457 Cash flow hedge derivatives 4,017 1,689 2,328 (454 ) (191 ) (263 ) Total $ (3,685 ) $ (1,549 ) $ (2,136 ) $ 22,764 $ 9,570 $ 13,194 Ending balance, loss, net of tax Securities available-for sale $ (1,125 ) $ (8,633 ) Cash flow hedge derivatives (1,657 ) (263 ) Total $ (2,782 ) $ (8,896 ) Six months ended June 30, 2015 Six months ended June 30, 2014 Pre-tax Tax expense/ (benefit) Net-of-tax Pre-tax Tax expense/ (benefit) Net-of-tax (In thousands) Beginning balance, loss, net of tax Securities available-for sale $ (3,172 ) $ (29,729 ) Cash flow hedge derivatives (2,397 ) - Total $ (5,569 ) $ (29,729 ) Net unrealized gains/(losses) arising during the period Securities available-for sale $ 177 $ 73 $ 104 $ 42,867 $ 18,023 $ 24,844 Cash flow hedge derivatives 1,277 537 740 (454 ) (191 ) (263 ) Total 1,454 610 844 42,413 17,832 $ 24,581 Reclassification adjustment for net losses/(gains) in net income Securities available-for sale 3,353 1,410 1,943 (6,466 ) (2,718 ) (3,748 ) Cash flow hedge derivatives - - - - - - Total 3,353 1,410 1,943 (6,466 ) (2,718 ) (3,748 ) Total other comprehensive income/(loss) Securities available-for sale 3,530 1,483 2,047 36,401 15,305 21,096 Cash flow hedge derivatives 1,277 537 740 (454 ) (191 ) (263 ) Total $ 4,807 $ 2,020 $ 2,787 $ 35,947 $ 15,114 $ 20,833 Ending balance, loss, net of tax Securities available-for sale $ (1,125 ) $ (8,633 ) Cash flow hedge derivatives (1,657 ) (263 ) Total $ (2,782 ) $ (8,896 ) |
Note 17 - Subsequent Events
Note 17 - Subsequent Events | 6 Months Ended |
Jun. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | 17 . S ubsequent Events On July 31, 2015, the Company completed its merger with Asia Bancshares, Inc. (“Bancshares”). As a result of the transaction, Bancshares has been merged with and into Bancorp, and its subsidiary, Asia Bank, has been merged with and into Cathay Bank. Asia Bank operates three branches in New York and one branch in Maryland. Under the terms of the merger, Bancorp is issuing 2.58 million shares of its common stock and paying $57.0 million in cash for all the issued and outstanding shares of Bancshares common stock. As of June 30, 2015, Bancshares had total assets of $520.5 million, total gross loans of $413.7 million, total deposits of $437.1 million and total equity of $79.3 million. |
Note 4 - Earnings per Share (Ta
Note 4 - Earnings per Share (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended June 30, Six months ended June 30, (Dollars in thousands, except share and per share data) 2015 2014 2015 2014 Net income $ 45,200 $ 35,084 $ 81,180 $ 66,343 Weighted-average shares: Basic weighted-average number of common shares outstanding 79,939,197 79,642,993 79,887,699 79,619,506 Dilutive effect of weighted-average outstanding common share equivalents Warrants 566,405 273,759 456,274 286,079 Options 139,867 97,476 124,249 99,575 Restricted stock units 53,525 32,243 37,043 37,786 Diluted weighted-average number of common shares outstanding 80,698,994 80,046,471 80,505,265 80,042,946 Average stock options and warrants with anti-dilutive effect 939,615 2,003,896 1,246,123 1,994,922 Earnings per common share: Basic $ 0.57 $ 0.44 $ 1.02 $ 0.83 Diluted $ 0.56 $ 0.44 $ 1.01 $ 0.83 |
Note 5 - Stock-Based Compensa24
Note 5 - Stock-Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted-average Aggregate Weighted-average Remaining Contractual Intrinsic Shares Exercise Price Life (in years) Value (in thousands) Balance, December 31, 2014 2,332,904 $ 32.34 1.2 $ 1,388 Exercised (3,750 ) 23.37 Forfeited (808,670 ) 35.63 Balance, March 31, 2015 1,520,484 $ 30.62 1.6 $ 3,156 Exercised (69,600 ) 23.37 Forfeited (267,884 ) 33.99 Balance, June 30, 2015 1,183,000 $ 30.37 1.5 $ 5,010 Exercisable, June 30, 2015 1,183,000 $ 30.37 1.5 $ 5,010 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Units Balance at December 31, 2014 386,465 Granted 72,900 Vested (24,892 ) Forfeited (7,265 ) Balance at June 30, 2015 427,208 |
Schedule of Tax Benefit (Short-fall) from Share-based Payment Arrangements [Table Text Block] | Three months ended June 30, Six months ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Short-fall of tax deductions in excess of grant-date fair value $ (1,224 ) $ 50 $ (5,619 ) $ (1,177 ) Benefit of tax deductions on grant-date fair value 1,554 (50 ) 6,146 1,177 Total benefit of tax deductions $ 330 $ - $ 527 $ - |
Note 6 - Investment Securities
Note 6 - Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | June 30, 2015 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 299,911 $ 199 $ - $ 300,110 U.S. government sponsored entities 49,975 152 - 50,127 Mortgage-backed securities 1,110,298 759 9,654 1,101,403 Collateralized mortgage obligations 70 - 30 40 Corporate debt securities 74,949 528 1,078 74,399 Mutual funds 6,000 - 156 5,844 Preferred stock of government sponsored entities 2,811 733 - 3,544 Other equity securities 3,628 6,606 2 10,232 Total $ 1,547,642 $ 8,977 $ 10,920 $ 1,545,699 December 31, 2014 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 664,206 $ 63 $ 265 $ 664,004 Mortgage-backed securities 549,296 1,393 6,386 544,303 Collateralized mortgage obligations 79 - 34 45 Corporate debt securities 94,943 776 1,247 94,472 Mutual funds 6,000 - 134 5,866 Preferred stock of government sponsored entities 6,276 681 3,733 3,224 Other equity securities 3,608 3,413 - 7,021 Total $ 1,324,408 $ 6,326 $ 11,799 $ 1,318,935 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Securities Available-For-Sale Amortized cost Fair value (In thousands) Due in one year or less $ 299,913 $ 300,112 Due after one year through five years 88,156 89,227 Due after five years through ten years 45,607 44,609 Due after ten years (1) 1,113,966 1,111,751 Total $ 1,547,642 $ 1,545,699 |
Schedule of Unrealized Loss on Investments [Table Text Block] | June 30, 2015 Temporarily impaired securities Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Dollars in thousands) Securities Available-for-Sale Mortgage-backed securities $ 1,087,436 $ 9,653 $ 6 $ 1 $ 1,087,442 $ 9,654 Collateralized mortgage obligations - - 40 30 40 30 Corporate debt securities - - 43,922 1,078 43,922 1,078 Mutual funds - - 5,844 156 5,844 156 Other equity securities 18 2 - - 18 2 Total $ 1,087,454 $ 9,655 $ 49,812 $ 1,265 $ 1,137,266 $ 10,920 December 31, 2014 Temporarily impaired securities Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Dollars in thousands) Securities Available-for-Sale U.S. treasury securities $ 374,153 $ 265 $ - $ - $ 374,153 $ 265 Mortgage-backed securities - - 425,090 6,386 425,090 6,386 Collateralized mortgage obligations - - 45 34 45 34 Corporate debt securities - - 63,753 1,247 63,753 1,247 Mutual funds - - 5,866 134 5,866 134 Preferred stock of government sponsored entities 2,448 3,733 - - 2,448 3,733 Total $ 376,601 $ 3,998 $ 494,754 $ 7,801 $ 871,355 $ 11,799 |
Note 7 - Loans (Tables)
Note 7 - Loans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Note 7 - Loans (Tables) [Line Items] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, 2015 December 31, 2014 (In thousands) Type of Loans: Commercial loans $ 2,387,450 $ 2,382,493 Residential mortgage loans 1,713,312 1,570,059 Commercial mortgage loans 4,849,381 4,486,443 Equity lines 176,067 172,879 Real estate construction loans 370,828 298,654 Installment and other loans 4,970 3,552 Gross loans $ 9,502,008 $ 8,914,080 Less: Allowance for loan losses (153,437 ) (161,420 ) Unamortized deferred loan fees (10,207 ) (12,392 ) Total loans, net $ 9,338,364 $ 8,740,268 Loans held for sale $ - $ 973 |
Impaired Financing Receivables [Table Text Block] | Impaired Loans Average Recorded Investment Interest Income Recognized Three months ended Six months ended Three months ended Six months ended June 30, June 30, June 30, June 30, 2015 2014 2015 2014 2015 2014 2015 2014 (In thousands) Commercial loans $ 25,620 $ 27,773 $ 25,523 $ 29,300 $ 201 $ 194 $ 412 $ 420 Real estate construction loans 20,790 33,049 21,884 33,552 65 66 130 132 Commercial mortgage loans 105,815 112,982 108,042 112,148 793 995 1,574 2,014 Residential mortgage loans and equity lines 17,025 18,392 17,152 18,772 120 93 240 192 Total impaired loans $ 169,250 $ 192,196 $ 172,601 $ 193,772 $ 1,179 $ 1,348 $ 2,356 $ 2,758 |
Schedule of Impaired Loans and Related Allowance and Charge-off [Table Text Block] | Impaired Loans June 30, 2015 December 31, 2014 Unpaid Principal Balance Recorded Investment Allowance Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance Commercial loans $ 17,657 $ 14,055 $ - $ 19,479 $ 18,452 $ - Real estate construction loans 48,790 22,586 - 32,924 17,025 - Commercial mortgage loans 81,845 76,053 - 77,474 75,172 - Residential mortgage loans and equity lines 2,473 2,473 - 2,518 2,518 - Subtotal $ 150,765 $ 115,167 $ - $ 132,395 $ 113,167 $ - With allocated allowance Commercial loans $ 9,910 $ 9,661 $ 966 $ 7,003 $ 5,037 $ 1,263 Real estate construction loans - - - 19,006 8,703 1,077 Commercial mortgage loans 28,332 26,822 6,554 38,197 34,022 8,993 Residential mortgage loans and equity lines 14,958 14,414 464 14,019 13,590 465 Subtotal $ 53,200 $ 50,897 $ 7,984 $ 78,225 $ 61,352 $ 11,798 Total impaired loans $ 203,965 $ 166,064 $ 7,984 $ 210,620 $ 174,519 $ 11,798 |
Past Due Financing Receivables [Table Text Block] | June 30, 2015 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Non-accrual Loans Total Past Due Loans Not Past Due Total (In thousands) Type of Loans: Commercial loans $ 17,641 $ 2,138 $ - $ 7,878 $ 27,657 $ 2,359,793 $ 2,387,450 Real estate construction loans - - - 16,856 16,856 353,972 370,828 Commercial mortgage loans 4,132 3,151 - 33,271 40,554 4,808,827 4,849,381 Residential mortgage loans and equity lines - 234 - 8,047 8,281 1,881,098 1,889,379 Installment and other loans - - - - - 4,970 4,970 Total loans $ 21,773 $ 5,523 $ - $ 66,052 $ 93,348 $ 9,408,660 $ 9,502,008 December 31, 2014 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Non-accrual Loans Total Past Due Loans Not Past Due Total (In thousands) Type of Loans: Commercial loans $ 11,595 $ 1,238 $ - $ 6,983 $ 19,816 $ 2,362,677 2,382,493 Real estate construction loans 1,416 - - 19,963 21,379 277,275 298,654 Commercial mortgage loans 17,654 3,909 - 35,606 57,169 4,429,274 4,486,443 Residential mortgage loans and equity lines 5,634 732 - 7,611 13,977 1,728,961 1,742,938 Installment and other loans 60 - - - 60 3,492 3,552 Total loans $ 36,359 $ 5,879 $ - $ 70,163 $ 112,401 $ 8,801,679 $ 8,914,080 |
Schedule of Troubled Debt Restructurings [Table Text Block] | Six months ended June 30, 2015 June 30, 2015 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (Dollars in thousands) Commercial loans 1 $ 850 $ 850 $ - $ - Commercial mortgage loans 4 14,411 14,411 - 40 Residential mortgage loans and equity lines 4 1,522 1,374 148 43 Total 9 $ 16,783 $ 16,635 $ 148 $ 83 Six months ended June 30, 2014 June 30, 2014 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (Dollars in thousands) Commercial loans 3 8,490 8,490 $ - $ 20 Residential mortgage loans and equity lines 3 1,393 1,393 - 32 Total 6 $ 9,883 $ 9,883 $ - $ 52 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | June 30, 2015 Accruing TDRs Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Commercial loans $ 12,386 $ 1,496 $ 1,957 $ 15,839 Real estate construction loans - - 5,730 5,730 Commercial mortgage loans 29,465 6,082 34,055 69,602 Residential mortgage loans 5,088 1,005 2,747 8,840 Total accruing TDRs $ 46,939 $ 8,583 $ 44,489 $ 100,011 December 31, 2014 Accruing TDRs Payment Deferral Rate Reduction Rate Reduction and Forgiveness of Principal Rate Reduction and Payment Deferral Total Commercial loans $ 11,572 $ - $ - $ 4,934 $ 16,506 Real estate construction loans 5,765 - - - 5,765 Commercial mortgage loans 20,543 26,694 - 26,351 73,588 Residential mortgage loans 3,316 - 410 4,771 8,497 Total accruing TDRs $ 41,196 $ 26,694 $ 410 $ 36,056 $ 104,356 |
Non Accrual Troubled Debt Restructurings [Table Text Block] | June 30, 2015 Non-accrual TDRs Payment Deferral Rate Reduction and Payment Deferral Total (In thousands) Commercial loans $ 2,272 $ - $ 2,272 Real estate construction loans 10,366 5,990 16,356 Commercial mortgage loans 1,566 20,540 22,106 Residential mortgage loans 611 1,250 1,861 Total non-accrual TDRs $ 14,815 $ 27,780 $ 42,595 December 31, 2014 Non-accrual TDRs Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Commercial loans $ 1,423 $ 860 $ 1,269 $ 3,552 Real estate construction loans - - 19,462 19,462 Commercial mortgage loans 15,917 - 973 16,890 Residential mortgage loans 1,026 - 688 1,714 Total non-accrual TDRs $ 18,366 $ 860 $ 22,392 $ 41,618 |
Activity Within the Troubled Debt Resturings [Table Text Block] | Three months ended June 30, Six months ended June 30, Accruing TDRs 2015 2014 2015 2014 (In thousands) Beginning balance $ 100,393 $ 118,922 $ 104,356 $ 117,597 New restructurings 5,798 722 16,426 8,097 Restructured loans restored to accrual status - - - 962 Charge-offs - - (148 ) - Payments (6,180 ) (1,278 ) (10,434 ) (8,290 ) Restructured loans placed on nonaccrual - (7,230 ) (10,189 ) (7,230 ) Ending balance $ 100,011 $ 111,136 $ 100,011 $ 111,136 Three months ended June 30, Six months ended June 30, Non-accrual TDRs 2015 2014 2015 2014 (In thousands) Beginning balance $ 44,541 $ 37,797 $ 41,618 $ 38,769 New restructurings - 247 209 1,786 Restructured loans placed on nonaccrual - 7,230 10,189 7,230 Charge-offs (489 ) (595 ) (3,243 ) (599 ) Payments (1,457 ) (1,074 ) (6,178 ) (2,619 ) Restructured loans restored to accrual status - - - (962 ) Ending balance $ 42,595 $ 43,605 $ 42,595 $ 43,605 |
Financing Receivable Credit Quality Indicators [Table Text Block] | June 30, 2015 Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Commercial loans $ 2,251,083 $ 64,655 $ 70,240 $ 1,472 $ 2,387,450 Real estate construction loans 348,242 - 22,086 500 370,828 Commercial mortgage loans 4,580,231 114,663 144,897 9,590 4,849,381 Residential mortgage loans and equity lines 1,879,108 - 10,271 - 1,889,379 Installment and other loans 4,970 - - - 4,970 Total gross loans $ 9,063,634 $ 179,318 $ 247,494 $ 11,562 $ 9,502,008 December 31, 2014 Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Commercial loans $ 2,260,474 $ 47,619 $ 72,561 $ 1,839 $ 2,382,493 Real estate construction loans 272,927 - 25,227 500 298,654 Commercial mortgage loans 4,213,453 105,970 167,020 - 4,486,443 Residential mortgage loans and equity lines 1,733,248 - 9,690 - 1,742,938 Installment and other loans 3,552 - - - 3,552 Total gross loans $ 8,483,654 $ 153,589 $ 274,498 $ 2,339 $ 8,914,080 Loans held for sale $ - $ - $ 973 $ - $ 973 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Three months ended June 30, 2015 and 2014 Real Estate Commercial Residential Installment Commercial Construction Mortgage Mortgage Loans and Other Loans Loans Loans and Equity Lines Loans Total (In thousands) March 31, 2015 Ending Balance $ 49,705 $ 23,270 $ 71,318 $ 11,777 $ 19 156,089 Provision/(credit) for possible credit losses 184 2,982 (5,880 ) 559 5 (2,150 ) Charge-offs (2,580 ) - (65 ) (13 ) - (2,658 ) Recoveries 231 52 1,872 - 1 2,156 Net (charge-offs)/recoveries (2,349 ) 52 1,807 (13 ) 1 (502 ) June 30, 2015 Ending Balance $ 47,540 $ 26,304 $ 67,245 $ 12,323 $ 25 $ 153,437 March 31, 2014 Ending Balance $ 64,782 $ 10,626 $ 81,326 $ 12,377 $ 27 $ 169,138 Provision/(credit) for possible credit losses (6,111 ) 742 1,185 493 (9 ) (3,700 ) Charge-offs (114 ) (1,813 ) (648 ) - - (2,575 ) Recoveries 4,682 - 1,532 - - 6,214 Net (charge-offs)/recoveries 4,568 (1,813 ) 884 - - 3,639 June 30, 2014 Ending Balance $ 63,239 $ 9,555 $ 83,395 $ 12,870 $ 18 $ 169,077 Six months ended June 30, 2015 and 2014 Real Estate Commercial Residential Installment Commercial Construction Mortgage Mortgage Loans and Other Loans Loans Loans and Equity Lines Loans Total (In thousands) 2015 Beginning Balance $ 47,501 $ 27,652 $ 74,673 $ 11,578 $ 16 $ 161,420 Provision/(credit) for possible credit losses 1,005 (1,470 ) (7,580 ) 886 9 (7,150 ) Charge-offs (3,444 ) - (3,516 ) (161 ) - (7,121 ) Recoveries 2,478 122 3,668 20 - 6,288 Net (charge-offs)/recoveries (966 ) 122 152 (141 ) - (833 ) June 30, 2015 Ending Balance $ 47,540 $ 26,304 $ 67,245 $ 12,323 $ 25 $ 153,437 Reserve for impaired loans $ 966 $ - $ 6,554 $ 464 $ - $ 7,984 Reserve for non-impaired loans $ 46,574 $ 26,304 $ 60,691 $ 11,859 $ 25 $ 145,453 Reserve for off-balance sheet credit commitments $ - $ - $ - $ - $ - $ - 2014 Beginning Balance $ 65,103 $ 11,999 $ 84,753 $ 12,005 $ 29 $ 173,889 Provision/(credit) for possible credit losses (1,228 ) (656 ) (3,041 ) 865 (11 ) (4,071 ) Charge-offs (7,340 ) (1,813 ) (2,424 ) - - (11,577 ) Recoveries 6,704 25 4,107 - - 10,836 Net (charge-offs)/recoveries (636 ) (1,788 ) 1,683 - - (741 ) June 30, 2014 Ending Balance $ 63,239 $ 9,555 $ 83,395 $ 12,870 $ 18 $ 169,077 Reserve for impaired loans $ 2,717 $ 143 $ 6,230 $ 519 $ - $ 9,609 Reserve for non-impaired loans $ 60,522 $ 9,412 $ 77,165 $ 12,351 $ 18 $ 159,468 Reserve for off-balance sheet credit commitments $ 1,014 $ 391 $ 401 $ 36 $ 2 $ 1,844 |
Impairment Method [Member] | |
Note 7 - Loans (Tables) [Line Items] | |
Impaired Financing Receivables [Table Text Block] | Residential Real Estate Commercial Mortgage Loans Commercial Construction Mortgage and Equity Installment and Loans Loans Loans Lines Other Loans Total (In thousands) June 30, 2015 Loans individually evaluated for impairment Allowance $ 966 $ - $ 6,554 $ 464 $ - $ 7,984 Balance $ 23,717 $ 22,586 $ 102,874 $ 16,887 $ - $ 166,064 Loans collectively evaluated for impairment Allowance $ 46,574 $ 26,304 $ 60,691 $ 11,859 $ 25 $ 145,453 Balance $ 2,363,733 $ 348,242 $ 4,746,507 $ 1,872,492 $ 4,970 $ 9,335,944 Total allowance $ 47,540 $ 26,304 $ 67,245 $ 12,323 $ 25 $ 153,437 Total balance $ 2,387,450 $ 370,828 $ 4,849,381 $ 1,889,379 $ 4,970 $ 9,502,008 December 31, 2014 Loans individually evaluated for impairment Allowance $ 1,263 $ 1,077 $ 8,993 $ 465 $ - $ 11,798 Balance $ 23,489 $ 25,728 $ 109,194 $ 16,108 $ - $ 174,519 Loans collectively evaluated for impairment Allowance $ 46,238 $ 26,575 $ 65,680 $ 11,113 $ 16 $ 149,622 Balance $ 2,359,004 $ 272,926 $ 4,377,249 $ 1,726,830 $ 3,552 $ 8,739,561 Total allowance $ 47,501 $ 27,652 $ 74,673 $ 11,578 $ 16 $ 161,420 Total balance $ 2,382,493 $ 298,654 $ 4,486,443 $ 1,742,938 $ 3,552 $ 8,914,080 |
Note 11 - Fair Value Measurem27
Note 11 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | June 30, 2015 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 $ 300,110 $ - $ - $ 300,110 U.S. government sponsored entities 50,127 - 50,127 Mortgage-backed securities - 1,101,403 - 1,101,403 Collateralized mortgage obligations - 40 - 40 Corporate debt securities - 74,399 - 74,399 Mutual funds 5,844 - - 5,844 Preferred stock of government sponsored entities - 3,544 - 3,544 Other equity securities - 10,232 - 10,232 Total securities available-for-sale 305,954 1,239,745 - 1,545,699 Warrants - - 32 32 Foreign exchange contracts - 2,326 - 2,326 Total assets $ 305,954 $ 1,242,071 $ 32 $ 1,548,057 Liabilities Interest rate swaps $ - $ 4,095 $ - $ 4,095 Foreign exchange contracts - 3,201 - 3,201 Total liabilities $ - $ 7,296 $ - $ 7,296 December 31, 2014 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 $ 664,004 $ - $ - $ 664,004 Mortgage-backed securities - 544,303 - 544,303 Collateralized mortgage obligations - 45 - 45 Corporate debt securities - 94,472 - 94,472 Mutual funds 5,866 - - 5,866 Preferred stock of government sponsored entities - 3,224 - 3,224 Other equity securities - 7,021 - 7,021 Total securities available-for-sale 669,870 649,065 - 1,318,935 Warrants - - 27 27 Foreign exchange contracts - 1,876 - 1,876 Total assets $ 669,870 $ 650,941 $ 27 $ 1,320,838 Liabilities Interest rate swaps $ - $ 4,626 $ - $ 4,626 Foreign exchange contracts - 5,007 - 5,007 Total liabilities $ - $ 9,633 $ - $ 9,633 |
Fair Value Measurements, Nonrecurring [Table Text Block] | June 30, 2015 Total Losses Fair Value Measurements Using Total at Three Months Ended Six Months Ended Level 1 Level 2 Level 3 Fair Value June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 (In thousands) Assets Impaired loans by type: Commercial loans $ - $ - $ 8,955 $ 8,955 $ 2,574 $ 17 $ 2,805 $ 17 Commercial mortgage loans - - 20,268 20,268 - - 654 - Residential mortgage loans and equity lines - - 13,950 13,950 - - 146 - Total impaired loans - - 43,173 43,173 2,574 17 3,605 17 Other real estate owned (1) - 8,017 4,236 12,253 44 142 225 325 Investments in venture capital - - 5,371 5,371 103 157 327 268 Total assets $ - $ 8,017 $ 52,780 $ 60,797 $ 2,721 $ 316 $ 4,157 $ 610 December 31, 2014 Total Losses / (Gains) Fair Value Measurements Using Twelve Months Ended Level 1 Level 2 Level 3 Total at Fair Value December 31, 2014 December 31, 2013 (In thousands) Assets Impaired loans by type: Commercial loans $ - $ - $ 3,774 $ 3,774 $ 17 $ 5,731 Commercial mortgage loans - - 25,029 25,029 3,914 125 Construction- other - - 7,625 7,625 - - Residential mortgage loans and equity lines - - 13,126 13,126 27 213 Total impaired loans - - 49,554 49,554 3,958 6,069 Other real estate owned (1) - 16,458 4,110 20,568 202 (3,134 ) Investments in venture capital - - 5,495 5,495 436 409 Equity investments 617 - - 617 - - Total assets $ 617 $ 16,458 $ 59,159 $ 76,234 $ 4,596 $ 3,344 |
Note 12 - Fair Value of Finan28
Note 12 - Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | June 30, 2015 December 31, 2014 Carrying Carrying Amount Fair Value Amount Fair Value (In thousands) Financial Assets Cash and due from banks $ 166,933 $ 166,933 $ 176,830 $ 176,830 Short-term investments 48,711 48,711 489,614 489,614 Securities available-for-sale 1,545,699 1,545,699 1,318,935 1,318,935 Loans held for sale - - 973 1,225 Loans, net 9,338,364 9,271,167 8,740,268 8,688,072 Investment in Federal Home Loan Bank stock 17,250 17,250 30,785 30,785 Warrants 32 32 27 27 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts $ 193,066 $ 2,326 $ 167,005 $ 1,876 Financial Liabilities Carrying Carrying Amount Fair Value Amount Fair Value Deposits $ 9,338,863 $ 9,341,551 $ 8,783,460 $ 8,785,342 Securities sold under agreements to repurchase 400,000 419,915 450,000 473,816 Advances from Federal Home Loan Bank 210,000 210,020 425,000 424,974 Other borrowings 20,261 17,571 19,934 17,978 Long-term debt 119,136 59,015 119,136 59,425 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts $ 188,048 $ 3,201 $ 178,868 $ 5,007 Interest rate swaps 298,538 4,095 300,480 4,626 Notional Notional Amount Fair Value Amount Fair Value Off-Balance Sheet Financial Instruments Commitments to extend credit $ 2,003,486 $ (4,123 ) $ 2,071,766 $ (3,442 ) Standby letters of credit 50,293 (202 ) 53,910 (243 ) Other letters of credit 57,204 (35 ) 48,142 (29 ) Bill of lading guarantees 199 (1 ) 108 - |
Schedule of Fair Value of Financial Instruments [Table Text Block] | June 30, 2015 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 166,933 $ 166,933 $ - $ - Short-term investments 48,711 48,711 - - Securities available-for-sale 1,545,699 305,954 1,239,745 - Loans, net 9,271,167 - - 9,271,167 Investment in Federal Home Loan Bank stock 17,250 - 17,250 - Warrants 32 - - 32 Financial Liabilities Deposits 9,341,551 - - 9,341,551 Securities sold under agreements to repurchase 419,915 - 419,915 - Advances from Federal Home Loan Bank 210,020 - 210,020 - Other borrowings 17,571 - - 17,571 Long-term debt 59,015 - 59,015 - December 31, 2014 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 176,830 $ 176,830 $ - $ - Short-term investments 489,614 489,614 - - Securities available-for-sale 1,318,935 669,870 649,065 - Loans held-for-sale 1,225 - - 1,225 Loans, net 8,688,072 - - 8,688,072 Investment in Federal Home Loan Bank stock 30,785 - 30,785 - Warrants 27 - - 27 Financial Liabilities Deposits 8,785,342 - - 8,785,342 Securities sold under agreements to repurchase 473,816 - 473,816 - Advances from Federal Home Loan Bank 424,974 - 424,974 - Other borrowings 17,978 - - 17,978 Long-term debt 59,425 - 59,425 - |
Note 15 - Balance Sheet Offse29
Note 15 - Balance Sheet Offsetting (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | Gross Amounts Not Offset in the Balance Sheet Gross Amounts of Recognized Gross Amounts Offset in the Balance Sheet Net Amounts Presented in the Balance Sheet Financial Instruments Collateral Posted Net Amount (In thousands) June 30, 2015 Liabilities: Securities sold under agreements to repurchase $ 400,000 $ - $ 400,000 $ - $ (400,000 ) $ - Derivatives $ 4,095 $ - $ 4,095 $ - $ (4,095 ) $ - December 31, 2014 Liabilities: Securities sold under agreements to repurchase $ 450,000 $ - $ 450,000 $ - $ (450,000 ) $ - Derivatives $ 4,626 $ - $ 4,626 $ - $ (4,626 ) $ - |
Note 16 - Stockholders' Equity
Note 16 - Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Stockholders' Equity Note [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three months ended June 30, 2015 Three months ended June 30, 2014 Pre-tax Tax expense/ (benefit) Net-of-tax Pre-tax Tax expense/ (benefit) Net-of-tax (In thousands) Beginning balance, loss, net of tax Securities available-for sale $ 3,339 $ (22,090 ) Cash flow hedge derivatives (3,985 ) - Total $ (646 ) $ (22,090 ) Net unrealized gains/(losses) arising during the period Securities available-for sale $ (11,034 ) $ (4,639 ) $ (6,395 ) $ 23,724 $ 9,974 $ 13,750 Cash flow hedge derivatives 4,017 1,689 2,328 (454 ) (191 ) (263 ) Total (7,017 ) (2,950 ) (4,067 ) 23,270 9,783 $ 13,487 Reclassification adjustment for net losses/(gains) in net income Securities available-for sale 3,332 1,401 1,931 (506 ) (213 ) (293 ) Cash flow hedge derivatives - - - - - - Total 3,332 1,401 1,931 (506 ) (213 ) (293 ) Total other comprehensive income/(loss) Securities available-for sale (7,702 ) (3,238 ) (4,464 ) 23,218 9,761 13,457 Cash flow hedge derivatives 4,017 1,689 2,328 (454 ) (191 ) (263 ) Total $ (3,685 ) $ (1,549 ) $ (2,136 ) $ 22,764 $ 9,570 $ 13,194 Ending balance, loss, net of tax Securities available-for sale $ (1,125 ) $ (8,633 ) Cash flow hedge derivatives (1,657 ) (263 ) Total $ (2,782 ) $ (8,896 ) Six months ended June 30, 2015 Six months ended June 30, 2014 Pre-tax Tax expense/ (benefit) Net-of-tax Pre-tax Tax expense/ (benefit) Net-of-tax (In thousands) Beginning balance, loss, net of tax Securities available-for sale $ (3,172 ) $ (29,729 ) Cash flow hedge derivatives (2,397 ) - Total $ (5,569 ) $ (29,729 ) Net unrealized gains/(losses) arising during the period Securities available-for sale $ 177 $ 73 $ 104 $ 42,867 $ 18,023 $ 24,844 Cash flow hedge derivatives 1,277 537 740 (454 ) (191 ) (263 ) Total 1,454 610 844 42,413 17,832 $ 24,581 Reclassification adjustment for net losses/(gains) in net income Securities available-for sale 3,353 1,410 1,943 (6,466 ) (2,718 ) (3,748 ) Cash flow hedge derivatives - - - - - - Total 3,353 1,410 1,943 (6,466 ) (2,718 ) (3,748 ) Total other comprehensive income/(loss) Securities available-for sale 3,530 1,483 2,047 36,401 15,305 21,096 Cash flow hedge derivatives 1,277 537 740 (454 ) (191 ) (263 ) Total $ 4,807 $ 2,020 $ 2,787 $ 35,947 $ 15,114 $ 20,833 Ending balance, loss, net of tax Securities available-for sale $ (1,125 ) $ (8,633 ) Cash flow hedge derivatives (1,657 ) (263 ) Total $ (2,782 ) $ (8,896 ) |
Note 1 - Business (Details)
Note 1 - Business (Details) | Jun. 30, 2015 |
Note 1 - Business (Details) [Line Items] | |
Number of Limited Partnerships in Housing Investments | 7 |
Percentage of Subsidiaries Common Securities Owned by Parent Company | 100.00% |
Number of Business Trust | 5 |
Southern California [Member] | |
Note 1 - Business (Details) [Line Items] | |
Number of Branch Locations | 21 |
Northern California Member | |
Note 1 - Business (Details) [Line Items] | |
Number of Branch Locations | 12 |
NEW YORK | |
Note 1 - Business (Details) [Line Items] | |
Number of Branch Locations | 9 |
ILLINOIS | |
Note 1 - Business (Details) [Line Items] | |
Number of Branch Locations | 3 |
WASHINGTON | |
Note 1 - Business (Details) [Line Items] | |
Number of Branch Locations | 3 |
TEXAS | |
Note 1 - Business (Details) [Line Items] | |
Number of Branch Locations | 2 |
MASSACHUSETTS | |
Note 1 - Business (Details) [Line Items] | |
Number of Branch Locations | 1 |
NEW JERSEY | |
Note 1 - Business (Details) [Line Items] | |
Number of Branch Locations | 1 |
NEVADA | |
Note 1 - Business (Details) [Line Items] | |
Number of Branch Locations | 1 |
HONG KONG | |
Note 1 - Business (Details) [Line Items] | |
Number of Branch Locations | 1 |
Note 4 - Earnings per Share (De
Note 4 - Earnings per Share (Details) - Earnings per Share - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Note 4 - Earnings per Share (Details) - Earnings per Share [Line Items] | ||||
Net income (in Dollars) | $ 45,200 | $ 35,084 | $ 81,180 | $ 66,343 |
Weighted-average shares: | ||||
Basic weighted-average number of common shares outstanding | 79,939,197 | 79,642,993 | 79,887,699 | 79,619,506 |
Dilutive effect of weighted-average outstanding common share equivalents | ||||
Diluted weighted-average number of common shares outstanding | 80,698,994 | 80,046,471 | 80,505,265 | 80,042,946 |
Average stock options and warrants with anti-dilutive effect | 939,615 | 2,003,896 | 1,246,123 | 1,994,922 |
Earnings per common share: | ||||
Basic (in Dollars per share) | $ 0.57 | $ 0.44 | $ 1.02 | $ 0.83 |
Diluted (in Dollars per share) | $ 0.56 | $ 0.44 | $ 1.01 | $ 0.83 |
Warrant [Member] | ||||
Dilutive effect of weighted-average outstanding common share equivalents | ||||
Dilutive effect of weighted-average outstanding common share equivalents | 566,405 | 273,759 | 456,274 | 286,079 |
Equity Option [Member] | ||||
Dilutive effect of weighted-average outstanding common share equivalents | ||||
Dilutive effect of weighted-average outstanding common share equivalents | 139,867 | 97,476 | 124,249 | 99,575 |
Restricted Stock Units (RSUs) [Member] | ||||
Dilutive effect of weighted-average outstanding common share equivalents | ||||
Dilutive effect of weighted-average outstanding common share equivalents | 53,525 | 32,243 | 37,043 | 37,786 |
Note 5 - Stock-Based Compensa33
Note 5 - Stock-Based Compensation (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2014 | Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Note 5 - Stock-Based Compensation (Details) [Line Items] | ||||||
Maximum Period of Common Stock Granted | 10 years | |||||
Annual Increments to Be Vested in Common Stock Units | 20.00% | 20.00% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 0 | 0 | ||||
Allocated Share-based Compensation Expense | $ 0 | $ 0 | $ 0 | $ 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares) | 69,600 | 3,750 | 73,350 | 0 | ||
Proceeds from Stock Options Exercised | $ 1,713,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 556,000 | |||||
Shares Available for Future Grant Calculated Based On Maximum of Earned Shares from TSR & EPS RSU (in Shares) | 3,562,168 | 3,562,168 | ||||
Restricted Stock Units (RSUs) [Member] | ||||||
Note 5 - Stock-Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 72,900 | 17,601 | ||||
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) | $ 28.11 | $ 24.66 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | 2 years | ||||
Stock or Unit Option Plan Expense | $ 1,200,000 | $ 1,000,000 | $ 2,200,000 | $ 2,000,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 6,300,000 | $ 6,300,000 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 73 days | |||||
Performance TSR Restricted Stock [Member] | ||||||
Note 5 - Stock-Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 60,456 | |||||
Performance EPS Restricted Stock Units [Member] | ||||||
Note 5 - Stock-Based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 57,642 |
Note 5 - Stock-Based Compensa34
Note 5 - Stock-Based Compensation (Details) - Stock Options - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Stock Options [Abstract] | |||||
Balance | 1,183,000 | 1,520,484 | 1,183,000 | 2,332,904 | |
Balance | $ 30.37 | $ 30.62 | $ 30.37 | $ 32.34 | |
Balance | 1 year 6 months | 1 year 219 days | 1 year 73 days | ||
Balance | $ 5,010 | $ 3,156 | $ 5,010 | $ 1,388 | |
Exercisable, June 30, 2015 | 1,183,000 | 1,183,000 | |||
Exercisable, June 30, 2015 | $ 30.37 | $ 30.37 | |||
Exercisable, June 30, 2015 | 1 year 6 months | ||||
Exercisable, June 30, 2015 | $ 5,010 | $ 5,010 | |||
Exercised | (69,600) | (3,750) | (73,350) | 0 | |
Exercised | $ 23.37 | $ 23.37 | |||
Forfeited | (267,884) | (808,670) | |||
Forfeited | $ 33.99 | $ 35.63 |
Note 5 - Stock-Based Compensa35
Note 5 - Stock-Based Compensation (Details) - Restricted Stock Units - Restricted Stock Units (RSUs) [Member] - shares | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Note 5 - Stock-Based Compensation (Details) - Restricted Stock Units [Line Items] | ||
Balance | 386,465 | |
Granted | 72,900 | 17,601 |
Vested | (24,892) | |
Forfeited | (7,265) | |
Balance | 427,208 |
Note 5 - Stock-Based Compensa36
Note 5 - Stock-Based Compensation (Details) - Tax Short-fall from Share-based Payment Arrangements - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Tax Short-fall from Share-based Payment Arrangements [Abstract] | ||||
Short-fall of tax deductions in excess of grant-date fair value | $ (1,224) | $ 50 | $ (5,619) | $ (1,177) |
Benefit of tax deductions on grant-date fair value | 1,554 | $ (50) | 6,146 | $ 1,177 |
Total benefit of tax deductions | $ 330 | $ 527 |
Note 6 - Investment Securitie37
Note 6 - Investment Securities (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Investments, Debt and Equity Securities [Abstract] | |||
Available-for-sale Securities | $ 1,545,699 | $ 1,318,935 | |
Proceeds from Sale of Mortgage Backed Securities (MBS) categorized as Available-for-sale | 573,500 | $ 386,500 | |
Proceeds from Maturities, Prepayments and Calls of Mortgage Backed Securities (MBS) | 36,500 | 39,600 | |
Proceeds from Sales and Repayments of Other Investment Securities | 385,200 | 80,400 | |
Proceeds from Maturities Repayments and Calls of Other Investment Securities | 0 | 135,800 | |
Realized Gain from Sale and Call of Investment Securities | 2,300 | 12,800 | |
Realized Loss from Sale and Call of Investment Securities | 1,800 | $ 6,300 | |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | 10,920 | 11,799 | |
Pledged Investment Securities | $ 519,200 | $ 591,300 |
Note 6 - Investment Securitie38
Note 6 - Investment Securities (Details) - Investment Securities - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Securities Available-for-Sale | ||
Securities available-for-sale, amortized cost | $ 1,547,642 | $ 1,324,408 |
Securities available-for-sale, gross unrealized gains | 8,977 | 6,326 |
Securities available-for-sale, gross unrealized losses | 10,920 | 11,799 |
Securities available-for-sale | 1,545,699 | 1,318,935 |
US Treasury Securities [Member] | ||
Securities Available-for-Sale | ||
Securities available-for-sale, amortized cost | 299,911 | 664,206 |
Securities available-for-sale, gross unrealized gains | 199 | 63 |
Securities available-for-sale, gross unrealized losses | 265 | |
Securities available-for-sale | 300,110 | 664,004 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities Available-for-Sale | ||
Securities available-for-sale, amortized cost | 49,975 | |
Securities available-for-sale, gross unrealized gains | 152 | |
Securities available-for-sale | 50,127 | |
Collateralized Mortgage Backed Securities [Member] | ||
Securities Available-for-Sale | ||
Securities available-for-sale, amortized cost | 1,110,298 | 549,296 |
Securities available-for-sale, gross unrealized gains | 759 | 1,393 |
Securities available-for-sale, gross unrealized losses | 9,654 | 6,386 |
Securities available-for-sale | 1,101,403 | 544,303 |
Collateralized Mortgage Obligations [Member] | ||
Securities Available-for-Sale | ||
Securities available-for-sale, amortized cost | 70 | 79 |
Securities available-for-sale, gross unrealized losses | 30 | 34 |
Securities available-for-sale | 40 | 45 |
Corporate Debt Securities [Member] | ||
Securities Available-for-Sale | ||
Securities available-for-sale, amortized cost | 74,949 | 94,943 |
Securities available-for-sale, gross unrealized gains | 528 | 776 |
Securities available-for-sale, gross unrealized losses | 1,078 | 1,247 |
Securities available-for-sale | 74,399 | 94,472 |
Mutual Funds [Member] | ||
Securities Available-for-Sale | ||
Securities available-for-sale, amortized cost | 6,000 | 6,000 |
Securities available-for-sale, gross unrealized losses | 156 | 134 |
Securities available-for-sale | 5,844 | 5,866 |
Preferred Stock of Government Sponsored Entities [Member] | ||
Securities Available-for-Sale | ||
Securities available-for-sale, amortized cost | 2,811 | 6,276 |
Securities available-for-sale, gross unrealized gains | 733 | 681 |
Securities available-for-sale, gross unrealized losses | 3,733 | |
Securities available-for-sale | 3,544 | 3,224 |
Other Equity Securities [Member] | ||
Securities Available-for-Sale | ||
Securities available-for-sale, amortized cost | 3,628 | 3,608 |
Securities available-for-sale, gross unrealized gains | 6,606 | 3,413 |
Securities available-for-sale, gross unrealized losses | 2 | |
Securities available-for-sale | $ 10,232 | $ 7,021 |
Note 6 - Investment Securitie39
Note 6 - Investment Securities (Details) - Investments by Contractual Maturity Date - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | |
Investments by Contractual Maturity Date [Abstract] | |||
Due in one year or less | $ 299,913 | ||
Due in one year or less | 300,112 | ||
Due after one year through five years | 88,156 | ||
Due after one year through five years | 89,227 | ||
Due after five years through ten years | 45,607 | ||
Due after five years through ten years | 44,609 | ||
Due after ten years (1) | [1] | 1,113,966 | |
Due after ten years (1) | [1] | 1,111,751 | |
Total | 1,547,642 | $ 1,324,408 | |
Total | $ 1,545,699 | $ 1,318,935 | |
[1] | Equity securities are reported in this category |
Note 6 - Investment Securitie40
Note 6 - Investment Securities (Details) - Temporarily Impaired Securities - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Securities Available-for-Sale | ||
Securities Available-for-Sale - Less than 12 Months - Fair Value | $ 1,087,454 | $ 376,601 |
Securities Available-for-Sale - Less than 12 Months - Unrealized Losses | 9,655 | 3,998 |
Securities Available-for-Sale - 12 Months or longer - Fair Value | 49,812 | 494,754 |
Securities Available-for-Sale - 12 Months or longer - Unrealized Losses | 1,265 | 7,801 |
Securities Available-for-Sale - Fair Value | 1,137,266 | 871,355 |
Securities Available-for-Sale - Unrealized Losses | 10,920 | 11,799 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities Available-for-Sale | ||
Securities Available-for-Sale - Less than 12 Months - Fair Value | 1,087,436 | |
Securities Available-for-Sale - Less than 12 Months - Unrealized Losses | 9,653 | |
Securities Available-for-Sale - 12 Months or longer - Fair Value | 6 | |
Securities Available-for-Sale - 12 Months or longer - Unrealized Losses | 1 | |
Securities Available-for-Sale - Fair Value | 1,087,442 | |
Securities Available-for-Sale - Unrealized Losses | 9,654 | |
Collateralized Mortgage Obligations [Member] | ||
Securities Available-for-Sale | ||
Securities Available-for-Sale - 12 Months or longer - Fair Value | 40 | 45 |
Securities Available-for-Sale - 12 Months or longer - Unrealized Losses | 30 | 34 |
Securities Available-for-Sale - Fair Value | 40 | 45 |
Securities Available-for-Sale - Unrealized Losses | 30 | 34 |
Corporate Debt Securities [Member] | ||
Securities Available-for-Sale | ||
Securities Available-for-Sale - 12 Months or longer - Fair Value | 43,922 | 63,753 |
Securities Available-for-Sale - 12 Months or longer - Unrealized Losses | 1,078 | 1,247 |
Securities Available-for-Sale - Fair Value | 43,922 | 63,753 |
Securities Available-for-Sale - Unrealized Losses | 1,078 | 1,247 |
Mutual Funds [Member] | ||
Securities Available-for-Sale | ||
Securities Available-for-Sale - 12 Months or longer - Fair Value | 5,844 | 5,866 |
Securities Available-for-Sale - 12 Months or longer - Unrealized Losses | 156 | 134 |
Securities Available-for-Sale - Fair Value | 5,844 | 5,866 |
Securities Available-for-Sale - Unrealized Losses | 156 | 134 |
Other Equity Securities [Member] | ||
Securities Available-for-Sale | ||
Securities Available-for-Sale - Less than 12 Months - Fair Value | 18 | |
Securities Available-for-Sale - Less than 12 Months - Unrealized Losses | 2 | |
Securities Available-for-Sale - Fair Value | 18 | |
Securities Available-for-Sale - Unrealized Losses | $ 2 | |
US Treasury Securities [Member] | ||
Securities Available-for-Sale | ||
Securities Available-for-Sale - Less than 12 Months - Fair Value | 374,153 | |
Securities Available-for-Sale - Less than 12 Months - Unrealized Losses | 265 | |
Securities Available-for-Sale - Fair Value | 374,153 | |
Securities Available-for-Sale - Unrealized Losses | 265 | |
Mortgage Backed Securities Non Agency [Member] | ||
Securities Available-for-Sale | ||
Securities Available-for-Sale - 12 Months or longer - Fair Value | 425,090 | |
Securities Available-for-Sale - 12 Months or longer - Unrealized Losses | 6,386 | |
Securities Available-for-Sale - Fair Value | 425,090 | |
Securities Available-for-Sale - Unrealized Losses | 6,386 | |
Preferred Stock of Government Sponsored Entities [Member] | ||
Securities Available-for-Sale | ||
Securities Available-for-Sale - Less than 12 Months - Fair Value | 2,448 | |
Securities Available-for-Sale - Less than 12 Months - Unrealized Losses | 3,733 | |
Securities Available-for-Sale - Fair Value | 2,448 | |
Securities Available-for-Sale - Unrealized Losses | $ 3,733 |
Note 7 - Loans (Details)
Note 7 - Loans (Details) | 6 Months Ended | |||||
Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Jun. 30, 2014USD ($) | Mar. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Note 7 - Loans (Details) [Line Items] | ||||||
Impaired Financing Receivable, Recorded Investment | $ 166,064,000 | $ 174,519,000 | ||||
Percentage of Charge-off to Contractual Balances for Impaired Loans | 18.60% | 17.10% | ||||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 148,000 | |||||
Loans and Leases Receivable, Impaired, Commitment to Lend | 0 | |||||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group | 0 | $ 973,000 | ||||
Nonaccrual Loans [Member] | ||||||
Note 7 - Loans (Details) [Line Items] | ||||||
Impaired Financing Receivable, Recorded Investment | 66,100,000 | 70,200,000 | ||||
Financing Receivable, Modifications, Recorded Investment | 42,600,000 | 41,600,000 | ||||
Allowance for Credit Losses, Change in Method of Calculating Impairment | 5,800,000 | 4,900,000 | ||||
Accruing Troubled Debt Restructuring [Member] | ||||||
Note 7 - Loans (Details) [Line Items] | ||||||
Impaired Financing Receivable, Recorded Investment | 100,000,000 | 104,300,000 | ||||
Financing Receivable, Modifications, Recorded Investment | 100,011,000 | $ 100,393,000 | 104,356,000 | $ 111,136,000 | $ 118,922,000 | $ 117,597,000 |
Allowance for Credit Losses, Change in Method of Calculating Impairment | 1,400,000 | 6,500,000 | ||||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 148,000 | |||||
Commercial Portfolio Segment [Member] | ||||||
Note 7 - Loans (Details) [Line Items] | ||||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | |||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 9,600,000 | |||||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 598,000 | |||||
Commercial Portfolio Segment [Member] | Accruing Troubled Debt Restructuring [Member] | ||||||
Note 7 - Loans (Details) [Line Items] | ||||||
Financing Receivable, Modifications, Recorded Investment | $ 15,839,000 | $ 16,506,000 | ||||
Minimum [Member] | ||||||
Note 7 - Loans (Details) [Line Items] | ||||||
Period Loan is in Payment Default | 60 days | |||||
Minimum [Member] | Reduction of Interest Rate and Change in Payment Terms [Member] | ||||||
Note 7 - Loans (Details) [Line Items] | ||||||
Troubled Debt Restructurings Length of Modifications | 6 months | |||||
Maximum [Member] | ||||||
Note 7 - Loans (Details) [Line Items] | ||||||
Period Loan is in Payment Default | 90 days | |||||
Maximum [Member] | Reduction of Interest Rate and Change in Payment Terms [Member] | ||||||
Note 7 - Loans (Details) [Line Items] | ||||||
Troubled Debt Restructurings Length of Modifications | 3 years |
Note 7 - Loans (Details) - Comp
Note 7 - Loans (Details) - Components of Loans in Consolidated Balance Sheets - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Type of Loans: | ||
Loans | $ 9,502,008,000 | $ 8,914,080,000 |
Less: | ||
Allowance for loan losses | (153,437,000) | (161,420,000) |
Unamortized deferred loan fees | (10,207,000) | (12,392,000) |
Total loans, net | 9,338,364,000 | 8,740,268,000 |
Loans held for sale | 0 | 973,000 |
Commercial Portfolio Segment [Member] | ||
Type of Loans: | ||
Loans | 2,387,450,000 | 2,382,493,000 |
Less: | ||
Allowance for loan losses | (47,540,000) | (47,501,000) |
Residential Portfolio Segment [Member] | ||
Type of Loans: | ||
Loans | 1,713,312,000 | 1,570,059,000 |
Commercial Real Estate Portfolio Segment [Member] | ||
Type of Loans: | ||
Loans | 4,849,381,000 | 4,486,443,000 |
Less: | ||
Allowance for loan losses | (67,245,000) | (74,673,000) |
Equity Lines Portfolio Segment [Member] | ||
Type of Loans: | ||
Loans | 176,067,000 | 172,879,000 |
Real Estate Construction Portfolio Segment [Member] | ||
Type of Loans: | ||
Loans | 370,828,000 | 298,654,000 |
Less: | ||
Allowance for loan losses | (26,304,000) | (27,652,000) |
Consumer Portfolio Segment [Member] | ||
Type of Loans: | ||
Loans | 4,970,000 | 3,552,000 |
Less: | ||
Allowance for loan losses | $ (25,000) | $ (16,000) |
Note 7 - Loans (Details) - Aver
Note 7 - Loans (Details) - Average Balance and Interest Income Recognized Related to Impaired Loans - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Financing Receivable, Impaired [Line Items] | ||||
Loans, average recorded investment | $ 169,250 | $ 192,196 | $ 172,601 | $ 193,772 |
Loans, interest income recognized | 1,179 | 1,348 | 2,356 | 2,758 |
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans, average recorded investment | 25,620 | 27,773 | 25,523 | 29,300 |
Loans, interest income recognized | 201 | 194 | 412 | 420 |
Real Estate Construction Portfolio Segment [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans, average recorded investment | 20,790 | 33,049 | 21,884 | 33,552 |
Loans, interest income recognized | 65 | 66 | 130 | 132 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans, average recorded investment | 105,815 | 112,982 | 108,042 | 112,148 |
Loans, interest income recognized | 793 | 995 | 1,574 | 2,014 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans, average recorded investment | 17,025 | 18,392 | 17,152 | 18,772 |
Loans, interest income recognized | $ 120 | $ 93 | $ 240 | $ 192 |
Note 7 - Loans (Details) - Impa
Note 7 - Loans (Details) - Impaired Loans and Related Allowance for Credit Losses - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
With no allocated allowance | ||
Loans with no related allowance, unpaid principal balance | $ 150,765 | $ 132,395 |
Loans with no related allowance, recorded investment | 115,167 | 113,167 |
With allocated allowance | ||
Loans with related allowance, unpaid principal balance | 53,200 | 78,225 |
Loans with related allowance, recorded investment | 50,897 | 61,352 |
Allowance | 7,984 | 11,798 |
Total impaired loans | 203,965 | 210,620 |
Total impaired loans | 166,064 | 174,519 |
Total impaired loans | 7,984 | 11,798 |
Commercial Portfolio Segment [Member] | ||
With no allocated allowance | ||
Loans with no related allowance, unpaid principal balance | 17,657 | 19,479 |
Loans with no related allowance, recorded investment | 14,055 | 18,452 |
With allocated allowance | ||
Loans with related allowance, unpaid principal balance | 9,910 | 7,003 |
Loans with related allowance, recorded investment | 9,661 | 5,037 |
Allowance | 966 | 1,263 |
Total impaired loans | 966 | 1,263 |
Real Estate Construction Portfolio Segment [Member] | ||
With no allocated allowance | ||
Loans with no related allowance, unpaid principal balance | 48,790 | 32,924 |
Loans with no related allowance, recorded investment | 22,586 | 17,025 |
With allocated allowance | ||
Loans with related allowance, unpaid principal balance | 19,006 | |
Loans with related allowance, recorded investment | 8,703 | |
Allowance | 1,077 | |
Total impaired loans | 1,077 | |
Commercial Real Estate Portfolio Segment [Member] | ||
With no allocated allowance | ||
Loans with no related allowance, unpaid principal balance | 81,845 | 77,474 |
Loans with no related allowance, recorded investment | 76,053 | 75,172 |
With allocated allowance | ||
Loans with related allowance, unpaid principal balance | 28,332 | 38,197 |
Loans with related allowance, recorded investment | 26,822 | 34,022 |
Allowance | 6,554 | 8,993 |
Total impaired loans | 6,554 | 8,993 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
With no allocated allowance | ||
Loans with no related allowance, unpaid principal balance | 2,473 | 2,518 |
Loans with no related allowance, recorded investment | 2,473 | 2,518 |
With allocated allowance | ||
Loans with related allowance, unpaid principal balance | 14,958 | 14,019 |
Loans with related allowance, recorded investment | 14,414 | 13,590 |
Allowance | 464 | 465 |
Total impaired loans | $ 464 | $ 465 |
Note 7 - Loans (Details) - Agin
Note 7 - Loans (Details) - Aging of Loan Portfolio - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Type of Loans: | ||
Loans past due | $ 93,348 | $ 112,401 |
Non-accrual loans | 66,052 | 70,163 |
Loans not past due | 9,408,660 | 8,801,679 |
Loans | 9,502,008 | 8,914,080 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Type of Loans: | ||
Loans past due | 21,773 | 36,359 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Type of Loans: | ||
Loans past due | 5,523 | 5,879 |
Commercial Portfolio Segment [Member] | ||
Type of Loans: | ||
Loans past due | 27,657 | 19,816 |
Non-accrual loans | 7,878 | 6,983 |
Loans not past due | 2,359,793 | 2,362,677 |
Loans | 2,387,450 | 2,382,493 |
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Type of Loans: | ||
Loans past due | 17,641 | 11,595 |
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Type of Loans: | ||
Loans past due | 2,138 | 1,238 |
Real Estate Construction Portfolio Segment [Member] | ||
Type of Loans: | ||
Loans past due | 16,856 | 21,379 |
Non-accrual loans | 16,856 | 19,963 |
Loans not past due | 353,972 | 277,275 |
Loans | 370,828 | 298,654 |
Real Estate Construction Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Type of Loans: | ||
Loans past due | 1,416 | |
Commercial Real Estate Portfolio Segment [Member] | ||
Type of Loans: | ||
Loans past due | 40,554 | 57,169 |
Non-accrual loans | 33,271 | 35,606 |
Loans not past due | 4,808,827 | 4,429,274 |
Loans | 4,849,381 | 4,486,443 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Type of Loans: | ||
Loans past due | 4,132 | 17,654 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Type of Loans: | ||
Loans past due | 3,151 | 3,909 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Type of Loans: | ||
Loans past due | 8,281 | 13,977 |
Non-accrual loans | 8,047 | 7,611 |
Loans not past due | 1,881,098 | 1,728,961 |
Loans | 1,889,379 | 1,742,938 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Type of Loans: | ||
Loans past due | 5,634 | |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Type of Loans: | ||
Loans past due | 234 | 732 |
Consumer Portfolio Segment [Member] | ||
Type of Loans: | ||
Loans past due | 60 | |
Loans not past due | 4,970 | 3,492 |
Loans | $ 4,970 | 3,552 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Type of Loans: | ||
Loans past due | $ 60 |
Note 7 - Loans (Details) - Trou
Note 7 - Loans (Details) - Troubled Debt Restructuring | 6 Months Ended | |
Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | |
Note 7 - Loans (Details) - Troubled Debt Restructuring [Line Items] | ||
No. of Loans | 9 | 6 |
Pre-Modification Recorded Investment | $ 16,783,000 | $ 9,883,000 |
Post-Modification Recorded Investment | 16,635,000 | 9,883,000 |
Charge-offs | 148,000 | |
Special Reserve | $ 83,000 | $ 52,000 |
Commercial Portfolio Segment [Member] | ||
Note 7 - Loans (Details) - Troubled Debt Restructuring [Line Items] | ||
No. of Loans | 1 | 3 |
Pre-Modification Recorded Investment | $ 850,000 | $ 8,490,000 |
Post-Modification Recorded Investment | 850,000 | 8,490,000 |
Charge-offs | $ 598,000 | |
Special Reserve | $ 20,000 | |
Commercial Real Estate Portfolio Segment [Member] | ||
Note 7 - Loans (Details) - Troubled Debt Restructuring [Line Items] | ||
No. of Loans | 4 | |
Pre-Modification Recorded Investment | $ 14,411,000 | |
Post-Modification Recorded Investment | 14,411,000 | |
Special Reserve | $ 40,000 | |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Note 7 - Loans (Details) - Troubled Debt Restructuring [Line Items] | ||
No. of Loans | 4 | 3 |
Pre-Modification Recorded Investment | $ 1,522,000 | $ 1,393,000 |
Post-Modification Recorded Investment | 1,374,000 | 1,393,000 |
Charge-offs | 148,000 | |
Special Reserve | $ 43,000 | $ 32,000 |
Note 7 - Loans (Details) - Accr
Note 7 - Loans (Details) - Accruing Troubled Debt Restructurings - Accruing Troubled Debt Restructuring [Member] - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | $ 100,011 | $ 100,393 | $ 104,356 | $ 111,136 | $ 118,922 | $ 117,597 |
Payment Deferral [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | 46,939 | 41,196 | ||||
Contractual Interest Rate Reduction [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | 8,583 | 26,694 | ||||
Rate Reduction and Payment Deferral [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | 44,489 | 36,056 | ||||
Rate Reduction and Forgiveness of Principal [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | 410 | |||||
Commercial Portfolio Segment [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | 15,839 | 16,506 | ||||
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | 12,386 | 11,572 | ||||
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | 1,496 | |||||
Commercial Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | 1,957 | 4,934 | ||||
Real Estate Construction Portfolio Segment [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | 5,730 | 5,765 | ||||
Real Estate Construction Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | 5,765 | |||||
Real Estate Construction Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | 5,730 | |||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | 69,602 | 73,588 | ||||
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | 29,465 | 20,543 | ||||
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | 6,082 | 26,694 | ||||
Commercial Real Estate Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | 34,055 | 26,351 | ||||
Residential Portfolio Segment [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | 8,840 | 8,497 | ||||
Residential Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | 5,088 | 3,316 | ||||
Residential Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | 1,005 | |||||
Residential Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | $ 2,747 | 4,771 | ||||
Residential Portfolio Segment [Member] | Rate Reduction and Forgiveness of Principal [Member] | ||||||
Financing Receivable, Modifications [Line Items] | ||||||
Accruing TDRs | $ 410 |
Note 7 - Loans (Details) - Non-
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings - Non Accruing Troubled Debt Restructuring [Member] - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ||||||
Non-accrual TDRs | $ 42,595 | $ 44,541 | $ 41,618 | $ 43,605 | $ 37,797 | $ 38,769 |
Payment Deferral [Member] | ||||||
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ||||||
Non-accrual TDRs | 14,815 | 18,366 | ||||
Rate Reduction and Payment Deferral [Member] | ||||||
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ||||||
Non-accrual TDRs | 27,780 | 22,392 | ||||
Contractual Interest Rate Reduction [Member] | ||||||
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ||||||
Non-accrual TDRs | 860 | |||||
Commercial Portfolio Segment [Member] | ||||||
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ||||||
Non-accrual TDRs | 2,272 | 3,552 | ||||
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ||||||
Non-accrual TDRs | 2,272 | 1,423 | ||||
Commercial Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ||||||
Non-accrual TDRs | 1,269 | |||||
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ||||||
Non-accrual TDRs | 860 | |||||
Real Estate Construction Portfolio Segment [Member] | ||||||
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ||||||
Non-accrual TDRs | 16,356 | 19,462 | ||||
Real Estate Construction Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ||||||
Non-accrual TDRs | 10,366 | |||||
Real Estate Construction Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ||||||
Non-accrual TDRs | 5,990 | 19,462 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ||||||
Non-accrual TDRs | 22,106 | 16,890 | ||||
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ||||||
Non-accrual TDRs | 1,566 | 15,917 | ||||
Commercial Real Estate Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ||||||
Non-accrual TDRs | 20,540 | 973 | ||||
Residential Portfolio Segment [Member] | ||||||
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ||||||
Non-accrual TDRs | 1,861 | 1,714 | ||||
Residential Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ||||||
Non-accrual TDRs | 611 | 1,026 | ||||
Residential Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ||||||
Non-accrual TDRs | $ 1,250 | $ 688 |
Note 7 - Loans (Details) - Tr49
Note 7 - Loans (Details) - Troubled Debt Restructuring Activity - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Note 7 - Loans (Details) - Troubled Debt Restructuring Activity [Line Items] | ||||
Charge-offs | $ (148) | |||
Accruing Troubled Debt Restructuring [Member] | ||||
Note 7 - Loans (Details) - Troubled Debt Restructuring Activity [Line Items] | ||||
Beginning balance | $ 100,393 | $ 118,922 | 104,356 | $ 117,597 |
New restructurings | 5,798 | 722 | 16,426 | 8,097 |
Restructured loans restored to accrual status | 962 | |||
Charge-offs | (148) | |||
Payments | (6,180) | (1,278) | (10,434) | (8,290) |
Restructured loans placed on nonaccrual | (7,230) | (10,189) | (7,230) | |
Ending balance | 100,011 | 111,136 | 100,011 | 111,136 |
Non Accruing Troubled Debt Restructuring [Member] | ||||
Note 7 - Loans (Details) - Troubled Debt Restructuring Activity [Line Items] | ||||
Beginning balance | 44,541 | 37,797 | 41,618 | 38,769 |
New restructurings | 247 | 209 | 1,786 | |
Restructured loans restored to accrual status | (962) | |||
Charge-offs | (489) | (595) | (3,243) | (599) |
Payments | (1,457) | (1,074) | (6,178) | (2,619) |
Restructured loans placed on nonaccrual | 7,230 | 10,189 | 7,230 | |
Ending balance | $ 42,595 | $ 43,605 | $ 42,595 | $ 43,605 |
Note 7 - Loans (Details) - Port
Note 7 - Loans (Details) - Portfolio by Risk Rating - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 9,502,008,000 | $ 8,914,080,000 |
Loans held for sale | 0 | 973,000 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,063,634,000 | 8,483,654,000 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 179,318,000 | 153,589,000 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 247,494,000 | 274,498,000 |
Loans held for sale | 973,000 | |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,562,000 | 2,339,000 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,387,450,000 | 2,382,493,000 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,251,083,000 | 2,260,474,000 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 64,655,000 | 47,619,000 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 70,240,000 | 72,561,000 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,472,000 | 1,839,000 |
Real Estate Construction Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 370,828,000 | 298,654,000 |
Real Estate Construction Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 348,242,000 | 272,927,000 |
Real Estate Construction Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 22,086,000 | 25,227,000 |
Real Estate Construction Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 500,000 | 500,000 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,849,381,000 | 4,486,443,000 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,580,231,000 | 4,213,453,000 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 114,663,000 | 105,970,000 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 144,897,000 | 167,020,000 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,590,000 | |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,889,379,000 | 1,742,938,000 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,879,108,000 | 1,733,248,000 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 10,271,000 | 9,690,000 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,970,000 | 3,552,000 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 4,970,000 | $ 3,552,000 |
Note 7 - Loans (Details) - Allo
Note 7 - Loans (Details) - Allowance for Loan Losses by Portfolio Segment and Based on Impairment Method - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Loans individually evaluated for impairment | ||
Loans individually evaluated for impairment, allowance | $ 7,984 | $ 11,798 |
Loans individually evaluated for impairment, balance | 166,064 | 174,519 |
Loans collectively evaluated for impairment | ||
Loans collectively evaluated for impairment, allowance | 145,453 | 149,622 |
Loans collectively evaluated for impairment, balance | 9,335,944 | 8,739,561 |
Loans, allowance | 153,437 | 161,420 |
Loans | 9,502,008 | 8,914,080 |
Commercial Portfolio Segment [Member] | ||
Loans individually evaluated for impairment | ||
Loans individually evaluated for impairment, allowance | 966 | 1,263 |
Loans individually evaluated for impairment, balance | 23,717 | 23,489 |
Loans collectively evaluated for impairment | ||
Loans collectively evaluated for impairment, allowance | 46,574 | 46,238 |
Loans collectively evaluated for impairment, balance | 2,363,733 | 2,359,004 |
Loans, allowance | 47,540 | 47,501 |
Loans | 2,387,450 | 2,382,493 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans individually evaluated for impairment | ||
Loans individually evaluated for impairment, allowance | 1,077 | |
Loans individually evaluated for impairment, balance | 22,586 | 25,728 |
Loans collectively evaluated for impairment | ||
Loans collectively evaluated for impairment, allowance | 26,304 | 26,575 |
Loans collectively evaluated for impairment, balance | 348,242 | 272,926 |
Loans, allowance | 26,304 | 27,652 |
Loans | 370,828 | 298,654 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans individually evaluated for impairment | ||
Loans individually evaluated for impairment, allowance | 6,554 | 8,993 |
Loans individually evaluated for impairment, balance | 102,874 | 109,194 |
Loans collectively evaluated for impairment | ||
Loans collectively evaluated for impairment, allowance | 60,691 | 65,680 |
Loans collectively evaluated for impairment, balance | 4,746,507 | 4,377,249 |
Loans, allowance | 67,245 | 74,673 |
Loans | 4,849,381 | 4,486,443 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans individually evaluated for impairment | ||
Loans individually evaluated for impairment, allowance | 464 | 465 |
Loans individually evaluated for impairment, balance | 16,887 | 16,108 |
Loans collectively evaluated for impairment | ||
Loans collectively evaluated for impairment, allowance | 11,859 | 11,113 |
Loans collectively evaluated for impairment, balance | 1,872,492 | 1,726,830 |
Loans, allowance | 12,323 | 11,578 |
Loans | 1,889,379 | 1,742,938 |
Consumer Portfolio Segment [Member] | ||
Loans collectively evaluated for impairment | ||
Loans collectively evaluated for impairment, allowance | 25 | 16 |
Loans collectively evaluated for impairment, balance | 4,970 | 3,552 |
Loans, allowance | 25 | 16 |
Loans | $ 4,970 | $ 3,552 |
Note 7 - Loans (Details) - Al52
Note 7 - Loans (Details) - Allowance for Loan Losses by Portfolio Segment - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance | $ 156,089 | $ 169,138 | $ 161,420 | $ 173,889 |
Provision/(reversal) for possible loan losses | (2,150) | (3,700) | (7,150) | (4,071) |
Charge-offs | (2,658) | (2,575) | (7,121) | (11,577) |
Recoveries | 2,156 | 6,214 | 6,288 | 10,836 |
Net charge-offs | (502) | 3,639 | (833) | (741) |
Balance | 153,437 | 169,077 | 153,437 | 169,077 |
Reserve to impaired loans | 7,984 | 9,609 | 7,984 | 9,609 |
Reserve to non-impaired loans | 145,453 | 159,468 | 145,453 | 159,468 |
Reserve for off-balance sheet credit commitments | 1,844 | 1,844 | ||
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance | 49,705 | 64,782 | 47,501 | 65,103 |
Provision/(reversal) for possible loan losses | 184 | (6,111) | 1,005 | (1,228) |
Charge-offs | (2,580) | (114) | (3,444) | (7,340) |
Recoveries | 231 | 4,682 | 2,478 | 6,704 |
Net charge-offs | (2,349) | 4,568 | (966) | (636) |
Balance | 47,540 | 63,239 | 47,540 | 63,239 |
Reserve to impaired loans | 966 | 2,717 | 966 | 2,717 |
Reserve to non-impaired loans | 46,574 | 60,522 | 46,574 | 60,522 |
Reserve for off-balance sheet credit commitments | 1,014 | 1,014 | ||
Real Estate Construction Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance | 23,270 | 10,626 | 27,652 | 11,999 |
Provision/(reversal) for possible loan losses | 2,982 | 742 | (1,470) | (656) |
Charge-offs | (1,813) | (1,813) | ||
Recoveries | 52 | 122 | 25 | |
Net charge-offs | 52 | (1,813) | 122 | (1,788) |
Balance | 26,304 | 9,555 | 26,304 | 9,555 |
Reserve to impaired loans | 143 | 143 | ||
Reserve to non-impaired loans | 26,304 | 9,412 | 26,304 | 9,412 |
Reserve for off-balance sheet credit commitments | 391 | 391 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance | 71,318 | 81,326 | 74,673 | 84,753 |
Provision/(reversal) for possible loan losses | (5,880) | 1,185 | (7,580) | (3,041) |
Charge-offs | (65) | (648) | (3,516) | (2,424) |
Recoveries | 1,872 | 1,532 | 3,668 | 4,107 |
Net charge-offs | 1,807 | 884 | 152 | 1,683 |
Balance | 67,245 | 83,395 | 67,245 | 83,395 |
Reserve to impaired loans | 6,554 | 6,230 | 6,554 | 6,230 |
Reserve to non-impaired loans | 60,691 | 77,165 | 60,691 | 77,165 |
Reserve for off-balance sheet credit commitments | 401 | 401 | ||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance | 11,777 | 12,377 | 11,578 | 12,005 |
Provision/(reversal) for possible loan losses | 559 | 493 | 886 | 865 |
Charge-offs | (13) | (161) | ||
Recoveries | 20 | |||
Net charge-offs | (13) | (141) | ||
Balance | 12,323 | 12,870 | 12,323 | 12,870 |
Reserve to impaired loans | 464 | 519 | 464 | 519 |
Reserve to non-impaired loans | 11,859 | 12,351 | 11,859 | 12,351 |
Reserve for off-balance sheet credit commitments | 36 | 36 | ||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance | 19 | 27 | 16 | 29 |
Provision/(reversal) for possible loan losses | 5 | (9) | 9 | (11) |
Recoveries | 1 | |||
Net charge-offs | 1 | |||
Balance | 25 | 18 | 25 | 18 |
Reserve to impaired loans | 0 | 0 | ||
Reserve to non-impaired loans | $ 25 | 18 | $ 25 | 18 |
Reserve for off-balance sheet credit commitments | $ 2 | $ 2 |
Note 9 - Borrowed Funds (Detail
Note 9 - Borrowed Funds (Details) - USD ($) | 6 Months Ended | ||
Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | |
Note 9 - Borrowed Funds (Details) [Line Items] | |||
Securities Sold under Agreements to Repurchase | $ 400,000,000 | $ 450,000,000 | |
Weighted Average Rate of Securities Sold Under Agreements | 3.89% | 3.85% | |
Prepaid Security Sold Under Repurchase Agreement | $ 100,000,000 | ||
Rate of Prepaid Security Sold Under Repurchase Agreements | 3.50% | ||
Prepayment Penalty Security Sold Under Agreements to Repurchase | $ 0 | $ 3,400,000 | |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Next Twelve Months | $ 60,000,000 | $ 400,000,000 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 0.24% | 0.27% | |
Long-term Federal Home Loan Bank Advances | $ 150,000,000 | $ 25,000,000 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Weighted Average Interest Rate | 0.36% | 1.13% | |
Floating to Fixed Rate Agreements Totaling $200 Million [Member] | |||
Note 9 - Borrowed Funds (Details) [Line Items] | |||
Number of Floating-to-fixed Rate Agreements | 4 | ||
Total Floating to Fixed Rate | $ 200,000,000 | ||
Debt, Weighted Average Interest Rate | 5.00% | ||
Floating Interest Rate, Range of Time Period | 1 year | ||
Securities Sold under Agreements to Repurchase [Member] | |||
Note 9 - Borrowed Funds (Details) [Line Items] | |||
Investment Securities Pledged As Collateral | $ 448,200,000 | $ 516,300,000 | |
Mature in July 2015 [Member] | |||
Note 9 - Borrowed Funds (Details) [Line Items] | |||
Long-term Federal Home Loan Bank Advances | 125,000,000 | ||
Mature in March 2018 [Member] | |||
Note 9 - Borrowed Funds (Details) [Line Items] | |||
Long-term Federal Home Loan Bank Advances | $ 25,000,000 | ||
Callable Securities [Member] | |||
Note 9 - Borrowed Funds (Details) [Line Items] | |||
Number of Floating-to-fixed Rate Agreements | 4 | ||
Non Callable Fixed Rate Securities [Member] | |||
Note 9 - Borrowed Funds (Details) [Line Items] | |||
Securities Sold under Agreements to Repurchase | $ 200,000,000 | ||
Weighted Average Rate of Securities Sold Under Agreements | 2.78% | ||
Mature in August 2016 [Member] | |||
Note 9 - Borrowed Funds (Details) [Line Items] | |||
Long-term Debt, Maturities, Repayments of Principal in Year Two | $ 50,000,000 | ||
Mature in July 2017 [Member] | |||
Note 9 - Borrowed Funds (Details) [Line Items] | |||
Long-term Debt, Maturities, Repayments of Principal in Year Three | 50,000,000 | ||
Mature in June 2018 [Member] | |||
Note 9 - Borrowed Funds (Details) [Line Items] | |||
Long-term Debt, Maturities, Repayments of Principal in Year Four | 50,000,000 | ||
Mature in July 2018 [Member] | |||
Note 9 - Borrowed Funds (Details) [Line Items] | |||
Long-term Debt, Maturities, Repayments of Principal in Year Five | $ 50,000,000 | ||
Maximum [Member] | Floating to Fixed Rate Agreements Totaling $200 Million [Member] | |||
Note 9 - Borrowed Funds (Details) [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.07% | ||
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Floating to Fixed Rate Agreements Totaling $200 Million [Member] | |||
Note 9 - Borrowed Funds (Details) [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | 3.40% | ||
Minimum [Member] | Floating to Fixed Rate Agreements Totaling $200 Million [Member] | |||
Note 9 - Borrowed Funds (Details) [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.89% |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||||
Income Tax Expense (Benefit) | $ 9,738 | $ 20,741 | $ 31,102 | $ 38,631 | |
Effective Income Tax Rate Reconciliation, Percent | 27.70% | 36.80% | |||
Income Taxes Receivable | $ 18,100 |
Note 11 - Fair Value Measurem55
Note 11 - Fair Value Measurements (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | |
Note 11 - Fair Value Measurements (Details) [Line Items] | ||
Fair Value Measurement With Unobservable Inputs, Reconciliation Recurring Basis Warrants (in Dollars) | $ 32,000 | $ 27,000 |
Other Real Estate, Foreclosed Assets, and Repossessed Assets (in Dollars) | $ 23,839,000 | 31,477,000 |
Accounts Receivable Collateral [Member] | ||
Note 11 - Fair Value Measurements (Details) [Line Items] | ||
Collateral Discount Rates | 55.00% | |
Inventory Collateral [Member] | ||
Note 11 - Fair Value Measurements (Details) [Line Items] | ||
Collateral Discount Rates | 65.00% | |
Net of Estimated Disposal Costs [Member] | ||
Note 11 - Fair Value Measurements (Details) [Line Items] | ||
Other Real Estate, Foreclosed Assets, and Repossessed Assets (in Dollars) | $ 23,800,000 | $ 31,500,000 |
Minimum [Member] | ||
Note 11 - Fair Value Measurements (Details) [Line Items] | ||
Expected Life of Warrants | 1 year | |
Estimated Sales Cost Applied to Collateral | 3.00% | |
Minimum [Member] | Warrants Outstanding [Member] | ||
Note 11 - Fair Value Measurements (Details) [Line Items] | ||
Fair Value Assumptions, Risk Free Interest Rate | 0.65% | |
Fair Value Assumptions, Expected Volatility Rate | 10.00% | |
Maximum [Member] | ||
Note 11 - Fair Value Measurements (Details) [Line Items] | ||
Expected Life of Warrants | 5 years | |
Estimated Sales Cost Applied to Collateral | 6.00% | |
Maximum [Member] | Warrants Outstanding [Member] | ||
Note 11 - Fair Value Measurements (Details) [Line Items] | ||
Fair Value Assumptions, Risk Free Interest Rate | 1.65% | |
Fair Value Assumptions, Expected Volatility Rate | 13.70% |
Note 11 - Fair Value Measurem56
Note 11 - Fair Value Measurements (Details) - Assets and Liabilities Measured at Fair Value on a Recurring Basis - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Securities available-for-sale | ||
Securities available-for-sale | $ 1,545,699 | $ 1,318,935 |
Assets | 1,548,057 | 1,320,838 |
Liabilities | ||
Liabilities | 7,296 | 9,633 |
US Treasury Securities [Member] | ||
Securities available-for-sale | ||
Securities available-for-sale | 300,110 | 664,004 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale | ||
Securities available-for-sale | 50,127 | |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available-for-sale | ||
Securities available-for-sale | 1,101,403 | 544,303 |
Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale | ||
Securities available-for-sale | 40 | 45 |
Corporate Debt Securities [Member] | ||
Securities available-for-sale | ||
Securities available-for-sale | 74,399 | 94,472 |
Mutual Funds [Member] | ||
Securities available-for-sale | ||
Securities available-for-sale | 5,844 | 5,866 |
Preferred Stock of Government Sponsored Entities [Member] | ||
Securities available-for-sale | ||
Securities available-for-sale | 3,544 | 3,224 |
Other Equity Securities [Member] | ||
Securities available-for-sale | ||
Securities available-for-sale | 10,232 | 7,021 |
Warrant [Member] | ||
Securities available-for-sale | ||
Assets | 32 | 27 |
Foreign Exchange Contract [Member] | ||
Securities available-for-sale | ||
Assets | 2,326 | 1,876 |
Liabilities | ||
Liabilities | 3,201 | 5,007 |
Interest Rate Swap [Member] | ||
Liabilities | ||
Liabilities | 4,095 | 4,626 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | ||
Securities available-for-sale | 305,954 | 669,870 |
Assets | 305,954 | 669,870 |
Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member] | ||
Securities available-for-sale | ||
Securities available-for-sale | 300,110 | 664,004 |
Fair Value, Inputs, Level 1 [Member] | Mutual Funds [Member] | ||
Securities available-for-sale | ||
Securities available-for-sale | 5,844 | 5,866 |
Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | ||
Securities available-for-sale | 1,239,745 | 649,065 |
Assets | 1,242,071 | 650,941 |
Liabilities | ||
Liabilities | 7,296 | 9,633 |
Fair Value, Inputs, Level 2 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale | ||
Securities available-for-sale | 50,127 | |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities available-for-sale | ||
Securities available-for-sale | 1,101,403 | 544,303 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale | ||
Securities available-for-sale | 40 | 45 |
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Securities available-for-sale | ||
Securities available-for-sale | 74,399 | 94,472 |
Fair Value, Inputs, Level 2 [Member] | Preferred Stock of Government Sponsored Entities [Member] | ||
Securities available-for-sale | ||
Securities available-for-sale | 3,544 | 3,224 |
Fair Value, Inputs, Level 2 [Member] | Other Equity Securities [Member] | ||
Securities available-for-sale | ||
Securities available-for-sale | 10,232 | 7,021 |
Fair Value, Inputs, Level 2 [Member] | Foreign Exchange Contract [Member] | ||
Securities available-for-sale | ||
Assets | 2,326 | 1,876 |
Liabilities | ||
Liabilities | 3,201 | 5,007 |
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Liabilities | ||
Liabilities | 4,095 | 4,626 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | ||
Assets | 32 | 27 |
Fair Value, Inputs, Level 3 [Member] | Warrant [Member] | ||
Securities available-for-sale | ||
Assets | $ 32 | $ 27 |
Note 11 - Fair Value Measurem57
Note 11 - Fair Value Measurements (Details) - Financial Assets and Liabilities Measured On a Non-recurring Basis - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | $ 60,797 | $ 60,797 | $ 76,234 | |||||||||
Asset Impairment Charges | 2,721 | $ 316 | 4,157 | $ 610 | 4,596 | $ 3,344 | ||||||
Impaired Loans [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | 43,173 | 43,173 | 49,554 | |||||||||
Asset Impairment Charges | 2,574 | 17 | 3,605 | 17 | 3,958 | 6,069 | ||||||
Other Real Estate Owned [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | 12,253 | [1] | 12,253 | [1] | 20,568 | [2] | ||||||
Asset Impairment Charges | 44 | [1] | 142 | [1] | 225 | [1] | 325 | [1] | 202 | [2] | (3,134) | [2] |
Investments in Venture Capital [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | 5,371 | 5,371 | 5,495 | |||||||||
Asset Impairment Charges | 103 | 157 | 327 | 268 | 436 | 409 | ||||||
Equity Investments [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | 617 | |||||||||||
Commercial Portfolio Segment [Member] | Impaired Loans [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | 8,955 | 8,955 | 3,774 | |||||||||
Asset Impairment Charges | 2,574 | $ 17 | 2,805 | $ 17 | 17 | 5,731 | ||||||
Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | 20,268 | 20,268 | 25,029 | |||||||||
Asset Impairment Charges | 654 | 3,914 | 125 | |||||||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Impaired Loans [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | $ 13,950 | 13,950 | 13,126 | |||||||||
Asset Impairment Charges | $ 146 | 27 | $ 213 | |||||||||
Construction - Other Loans [Member] | Impaired Loans [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | 7,625 | |||||||||||
Fair Value, Inputs, Level 1 [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | $ 617 | |||||||||||
Fair Value, Inputs, Level 1 [Member] | Other Real Estate Owned [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | ||||||||||||
Fair Value, Inputs, Level 1 [Member] | Equity Investments [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | $ 617 | |||||||||||
Fair Value, Inputs, Level 2 [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | $ 8,017 | $ 8,017 | 16,458 | |||||||||
Fair Value, Inputs, Level 2 [Member] | Other Real Estate Owned [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | 8,017 | [1] | 8,017 | [1] | 16,458 | [2] | ||||||
Fair Value, Inputs, Level 3 [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | 52,780 | 52,780 | 59,159 | |||||||||
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | 43,173 | 43,173 | 49,554 | |||||||||
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | 4,236 | [1] | 4,236 | [1] | 4,110 | [2] | ||||||
Fair Value, Inputs, Level 3 [Member] | Investments in Venture Capital [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | 5,371 | 5,371 | 5,495 | |||||||||
Fair Value, Inputs, Level 3 [Member] | Commercial Portfolio Segment [Member] | Impaired Loans [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | 8,955 | 8,955 | 3,774 | |||||||||
Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | 20,268 | 20,268 | 25,029 | |||||||||
Fair Value, Inputs, Level 3 [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | Impaired Loans [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | $ 13,950 | $ 13,950 | 13,126 | |||||||||
Fair Value, Inputs, Level 3 [Member] | Construction - Other Loans [Member] | Impaired Loans [Member] | ||||||||||||
Assets | ||||||||||||
Assets Fair Value Disclosure Nonrecurring | $ 7,625 | |||||||||||
[1] | Other real estate owned balance of $23.8 million in the condensed consolidated balance sheet is net of estimated disposal costs. | |||||||||||
[2] | Other real estate owned balance of $31.5 million in the consolidated balance sheet is net of estimated disposal costs. |
Note 12 - Fair Value of Finan58
Note 12 - Fair Value of Financial Instruments (Details) - Fair Value of Financial Instruments - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Financial Assets | ||||
Cash and due from banks | $ 166,933,000 | $ 176,830,000 | $ 245,860,000 | $ 153,747,000 |
Cash and due from banks | 166,933,000 | 176,830,000 | ||
Short-term investments | 48,711,000 | 489,614,000 | ||
Short-term investments | 48,711,000 | 489,614,000 | ||
Securities available-for-sale | 1,545,699,000 | 1,318,935,000 | ||
Loans held for sale | 0 | 973,000 | ||
Loans held for sale | 1,225,000 | |||
Loans, net | 9,338,364,000 | 8,740,268,000 | ||
Loans, net | 9,271,167,000 | 8,688,072,000 | ||
Investment in Federal Home Loan Bank stock | 17,250,000 | 30,785,000 | ||
Investment in Federal Home Loan Bank stock | 17,250,000 | 30,785,000 | ||
Warrants | 32,000 | 27,000 | ||
Warrants | 32,000 | 27,000 | ||
Foreign exchange contracts | 193,066,000 | 167,005,000 | ||
Foreign exchange contracts | 2,326,000 | 1,876,000 | ||
Deposits | 9,338,863,000 | 8,783,460,000 | ||
Deposits | 9,341,551,000 | 8,785,342,000 | ||
Securities sold under agreements to repurchase | 400,000,000 | 450,000,000 | ||
Securities sold under agreements to repurchase | 419,915,000 | 473,816,000 | ||
Advances from Federal Home Loan Bank | 210,000,000 | 425,000,000 | ||
Advances from Federal Home Loan Bank | 210,020,000 | 424,974,000 | ||
Other borrowings | 20,261,000 | 19,934,000 | ||
Other borrowings | 17,571,000 | 17,978,000 | ||
Long-term debt | 119,136,000 | 119,136,000 | ||
Long-term debt | 59,015,000 | 59,425,000 | ||
Foreign exchange contracts | 188,048,000 | 178,868,000 | ||
Foreign exchange contracts | 3,201,000 | 5,007,000 | ||
Interest rate swaps | 298,538,000 | 300,480,000 | ||
Interest rate swaps | 4,095,000 | 4,626,000 | ||
Off-Balance Sheet Financial Instruments | ||||
Commitments to extend credit | 2,003,486,000 | 2,071,766,000 | ||
Commitments to extend credit | (4,123,000) | (3,442,000) | ||
Standby letters of credit | 50,293,000 | 53,910,000 | ||
Standby letters of credit | (202,000) | (243,000) | ||
Other letters of credit | 57,204,000 | 48,142,000 | ||
Other letters of credit | (35,000) | (29,000) | ||
Bill of lading guarantees | 199,000 | $ 108,000 | ||
Bill of lading guarantees | $ (1,000) |
Note 12 - Fair Value of Finan59
Note 12 - Fair Value of Financial Instruments (Details) - Fair Value Hierarchy of Financial Instruments - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financial Assets | ||
Cash and due from banks | $ 166,933 | $ 176,830 |
Short-term investments | 48,711 | 489,614 |
Securities available-for-sale | 1,545,699 | 1,318,935 |
Loans held-for-sale | 1,225 | |
Loans, net | 9,271,167 | 8,688,072 |
Investment in Federal Home Loan Bank stock | 17,250 | 30,785 |
Warrants | 32 | 27 |
Financial Liabilities | ||
Deposits | 9,341,551 | 8,785,342 |
Securities sold under agreement to repurchase | 419,915 | 473,816 |
Advances from Federal Home Loan Bank | 210,020 | 424,974 |
Other borrowings | 17,571 | 17,978 |
Long-term debt | 59,015 | 59,425 |
Fair Value, Inputs, Level 1 [Member] | ||
Financial Assets | ||
Cash and due from banks | 166,933 | 176,830 |
Short-term investments | 48,711 | 489,614 |
Securities available-for-sale | 305,954 | 669,870 |
Fair Value, Inputs, Level 2 [Member] | ||
Financial Assets | ||
Securities available-for-sale | 1,239,745 | 649,065 |
Investment in Federal Home Loan Bank stock | 17,250 | 30,785 |
Financial Liabilities | ||
Securities sold under agreement to repurchase | 419,915 | 473,816 |
Advances from Federal Home Loan Bank | 210,020 | 424,974 |
Long-term debt | 59,015 | 59,425 |
Fair Value, Inputs, Level 3 [Member] | ||
Financial Assets | ||
Loans held-for-sale | 1,225 | |
Loans, net | 9,271,167 | 8,688,072 |
Warrants | 32 | 27 |
Financial Liabilities | ||
Deposits | 9,341,551 | 8,785,342 |
Other borrowings | $ 17,571 | $ 17,978 |
Note 14 - Financial Derivativ60
Note 14 - Financial Derivatives (Details) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2014USD ($) | May. 31, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Dec. 31, 2014USD ($) | Oct. 31, 2014USD ($) | |
Note 14 - Financial Derivatives (Details) [Line Items] | ||||||||
Junior Subordinated Notes | $ 119,100,000 | |||||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | $ 2,328,000 | $ (263,000) | $ 740,000 | $ (263,000) | ||||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ||||||||
Note 14 - Financial Derivatives (Details) [Line Items] | ||||||||
Derivative Asset, Number of Instruments Held | 5 | |||||||
Derivative, Notional Amount | $ 119,100,000 | 119,100,000 | 119,100,000 | |||||
Derivative, Original Maturity | 10 years | |||||||
Derivative, Average Fixed Interest Rate | 2.61% | |||||||
Derivative, Average Variable Interest Rate | 0.28% | |||||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | (1,700,000) | |||||||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | ||||||||
Note 14 - Financial Derivatives (Details) [Line Items] | ||||||||
Derivative, Notional Amount | $ 148,100,000 | $ 179,400,000 | $ 148,100,000 | $ 179,400,000 | $ 148,100,000 | $ 34,900,000 | ||
Derivative, Average Fixed Interest Rate | 4.60% | 4.60% | ||||||
Derivative, Average Variable Interest Rate | 3.11% | 3.11% | ||||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | $ (1,200,000) | |||||||
Derivative Liability, Number of Instruments Held | 10 | 10 | 10 | 4 | ||||
Derivative, Average Basis Spread on Variable Rate | 2.92% | 2.92% | ||||||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Interest Expense [Member] | Cash Flow Hedging [Member] | ||||||||
Note 14 - Financial Derivatives (Details) [Line Items] | ||||||||
Net Accrued on Interest Rate Swaps | $ 703,000 | $ 101,000 | $ 1,400,000 | $ 101,000 | ||||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Interest Income [Member] | Fair Value Hedging [Member] | ||||||||
Note 14 - Financial Derivatives (Details) [Line Items] | ||||||||
Net Accrued on Interest Rate Swaps | 682,000 | $ 26,000 | 1,400,000 | $ 26,000 | ||||
Cash [Member] | ||||||||
Note 14 - Financial Derivatives (Details) [Line Items] | ||||||||
Collateral Already Posted, Aggregate Fair Value | 7,200,000 | 7,200,000 | ||||||
Positive Fair Value Member | ||||||||
Note 14 - Financial Derivatives (Details) [Line Items] | ||||||||
Sum of Spot and Forward Contract Notional Amount | 193,100,000 | 193,100,000 | $ 167,000,000 | |||||
Increase (Decrease) in Fair Value | 2,300,000 | 1,900,000 | ||||||
Negative Fair Value Member | ||||||||
Note 14 - Financial Derivatives (Details) [Line Items] | ||||||||
Sum of Spot and Forward Contract Notional Amount | $ 188,000,000 | 188,000,000 | 178,900,000 | |||||
Increase (Decrease) in Fair Value | $ (3,200,000) | $ (5,000,000) | ||||||
Minimum [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | ||||||||
Note 14 - Financial Derivatives (Details) [Line Items] | ||||||||
Derivative, Original Maturity | 4 years | |||||||
Maximum [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | ||||||||
Note 14 - Financial Derivatives (Details) [Line Items] | ||||||||
Derivative, Original Maturity | 8 years |
Note 15 - Balance Sheet Offse61
Note 15 - Balance Sheet Offsetting (Details) - Financial Instruments that are Eligible for Offset in the Consolidated Balance Sheet - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Liabilities: | ||
Gross amounts of recognized liabilities | $ 400,000 | $ 450,000 |
Net amounts of liabilities presented in the statement of financial position | 400,000 | 450,000 |
Collateral posted | (400,000) | (450,000) |
Derivatives-Gross amounts of recognized liabilities | 4,095 | 4,626 |
Derivatives-Net amounts of liabilities presented in the statement of financial position | 4,095 | 4,626 |
Derivatives-Collateral posted | $ (4,095) | $ (4,626) |
Note 16 - Stockholders' Equit62
Note 16 - Stockholders' Equity (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Stockholders' Equity Note [Abstract] | |||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 1,669,065 | $ 1,669,065 | $ 1,602,888 | ||
Increase (Decrease) in Total Equity | $ 66,200 | ||||
Percentage Change in Total Equity | 4.10% | ||||
Net Income (Loss) Attributable to Parent | 45,200 | $ 35,084 | $ 81,180 | $ 66,343 | |
Other Comprehensive Income (Loss), Net of Tax | $ (2,136) | $ 13,194 | 2,787 | $ 20,833 | |
Dividends, Common Stock, Cash | $ 19,200 |
Note 16 - Stockholders' Equit63
Note 16 - Stockholders' Equity (Details) - Accumulated Other Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Beginning balance, loss, net of tax | ||||
Securities available-for sale | $ 3,339 | $ (22,090) | $ (3,172) | $ (29,729) |
Cash flow hedge derivatives | (3,985) | (2,397) | ||
Total | (646) | (22,090) | (5,569) | (29,729) |
Net unrealized gains/(losses) arising during the period | ||||
Securities available-for sale | (6,395) | 13,750 | 104 | 24,844 |
Cash flow hedge derivatives | 2,328 | (263) | 740 | (263) |
Total | (7,017) | 23,270 | 1,454 | 42,413 |
Total | (2,950) | 9,783 | 610 | 17,832 |
Total | (4,067) | 13,487 | 844 | 24,581 |
Reclassification adjustment for net losses/(gains) in net income | ||||
Securities available-for sale | (1,931) | 293 | (1,943) | 3,748 |
Total | 3,332 | (506) | 3,353 | (6,466) |
Total | 1,401 | (213) | 1,410 | (2,718) |
Total | 1,931 | (293) | 1,943 | (3,748) |
Total other comprehensive income/(loss) | ||||
Total | (3,685) | 22,764 | 4,807 | 35,947 |
Total | (1,549) | 9,570 | 2,020 | 15,114 |
Total | (2,136) | 13,194 | 2,787 | 20,833 |
Ending balance, loss, net of tax | ||||
Securities available-for sale | (1,125) | (8,633) | (1,125) | (8,633) |
Cash flow hedge derivatives | (1,657) | (263) | (1,657) | (263) |
Total | (2,782) | (8,896) | (2,782) | (8,896) |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||
Net unrealized gains/(losses) arising during the period | ||||
Securities available-for sale | (11,034) | 23,724 | 177 | 42,867 |
Securities available-for sale | (4,639) | 9,974 | 73 | 18,023 |
Securities available-for sale | (6,395) | 13,750 | 104 | 24,844 |
Reclassification adjustment for net losses/(gains) in net income | ||||
Securities available-for sale | 3,332 | (506) | 3,353 | (6,466) |
Securities available-for sale | 1,401 | (213) | 1,410 | (2,718) |
Securities available-for sale | 1,931 | (293) | 1,943 | (3,748) |
Total other comprehensive income/(loss) | ||||
Securities available-for sale | (7,702) | 23,218 | 3,530 | 36,401 |
Securities available-for sale | (3,238) | 9,761 | 1,483 | 15,305 |
Securities available-for sale | (4,464) | 13,457 | 2,047 | 21,096 |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||
Net unrealized gains/(losses) arising during the period | ||||
Cash flow hedge derivatives | 4,017 | (454) | 1,277 | (454) |
Cash flow hedge derivatives | 1,689 | (191) | 537 | (191) |
Cash flow hedge derivatives | 2,328 | (263) | 740 | (263) |
Total other comprehensive income/(loss) | ||||
Cash flow hedge derivatives | 4,017 | (454) | 1,277 | (454) |
Cash flow hedge derivatives | 1,689 | (191) | 537 | (191) |
Cash flow hedge derivatives | $ 2,328 | $ (263) | $ 740 | $ (263) |
Note 17 - Subsequent Events (De
Note 17 - Subsequent Events (Details) shares in Thousands, $ in Thousands | Jul. 31, 2015USD ($)shares | Jun. 30, 2015USD ($) | Dec. 31, 2014USD ($) |
Note 17 - Subsequent Events (Details) [Line Items] | |||
Assets | $ 11,918,316 | $ 11,516,846 | |
Loans and Leases Receivable, Gross | 9,502,008 | 8,914,080 | |
Deposits | 9,338,863 | $ 8,783,460 | |
Asia Bancshares [Member] | |||
Note 17 - Subsequent Events (Details) [Line Items] | |||
Assets | 520,500 | ||
Loans and Leases Receivable, Gross | 413,700 | ||
Deposits | 437,100 | ||
Stockholders' Equity Attributable to Parent | $ 79,300 | ||
Asia Bancshares [Member] | Subsequent Event [Member] | |||
Note 17 - Subsequent Events (Details) [Line Items] | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares | 2,580 | ||
Payments to Acquire Businesses, Gross | $ 57,000 | ||
Asia Bancshares [Member] | Subsequent Event [Member] | NEW YORK | |||
Note 17 - Subsequent Events (Details) [Line Items] | |||
Number of Branches Acquired | 3 | ||
Asia Bancshares [Member] | Subsequent Event [Member] | MARYLAND | |||
Note 17 - Subsequent Events (Details) [Line Items] | |||
Number of Branches Acquired | 1 |