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Allowance for Non-Covered Loan Loss and Credit Quality (Tables)
 3 Months Ended
Mar. 31, 2013
Receivables [Abstract]  
Activity In The Non-Covered Allowance For Loan And Lease Losses
The following table summarizes activity related to the allowance for non-covered loan and lease losses by non-covered loan portfolio segment for three months ended March 31, 2013 and 2012, respectively: 
 
(in thousands)
 
Three months ended March 31, 2013
 
Commercial
 
 
 
 
 
Consumer
 
 
 
 
 
Real Estate
 
Commercial
 
Residential
 
& Other
 
Unallocated
 
Total
Balance, beginning of period
$
54,909

 
$
22,925

 
$
6,925

 
$
632

 
$
—

 
$
85,391

Charge-offs
(1,454
)
 
(6,174
)
 
(904
)
 
(193
)
 
—

 
(8,725
)
Recoveries
470

 
367

 
92

 
109

 
—

 
1,038

Provision
1,170

 
4,543

 
1,106

 
169

 
—

 
6,988

Balance, end of period
$
55,095

 
$
21,661

 
$
7,219

 
$
717

 
$
—

 
$
84,692

 
(in thousands)
 
Three months ended March 31, 2012
 
Commercial
 
 
 
 
 
Consumer
 
 
 
 
 
Real Estate
 
Commercial
 
Residential
 
& Other
 
Unallocated
 
Total
Balance, beginning of period
$
59,574

 
$
20,485

 
$
7,625

 
$
867

 
$
4,417

 
$
92,968

Charge-offs
(5,772
)
 
(3,843
)
 
(2,588
)
 
(488
)
 
—

 
(12,691
)
Recoveries
955

 
2,060

 
95

 
116

 
—

 
3,226

Provision
3,269

 
(816
)
 
974

 
367

 
(627
)
 
3,167

Balance, end of period
$
58,026

 
$
17,886

 
$
6,106

 
$
862

 
$
3,790

 
$
86,670


The following table presents the allowance and recorded investment in non-covered loans by portfolio segment and balances individually or collectively evaluated for impairment as of March 31, 2013 and 2012, respectively: 
 
(in thousands)
 
March 31, 2013
 
Commercial
 
 
 
 
 
Consumer
 
 
 
 
 
Real Estate
 
Commercial
 
Residential
 
& Other
 
Unallocated
 
Total
Allowance for non-covered loans and leases:
Collectively evaluated for impairment
$
53,158

 
$
21,645

 
$
7,219

 
$
717

 
$
—

 
$
82,739

Individually evaluated for impairment
1,937

 
16

 
—

 
—

 
—

 
1,953

Total
$
55,095

 
$
21,661

 
$
7,219

 
$
717

 
$
—

 
$
84,692

Non-covered loans and leases:
 
 
 
 
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
4,085,501

 
$
1,670,149

 
$
744,016

 
$
40,890

 
 
 
$
6,540,556

Individually evaluated for impairment
114,553

 
19,375

 
338

 
—

 
 
 
134,266

Total
$
4,200,054

 
$
1,689,524

 
$
744,354

 
$
40,890

 
 
 
$
6,674,822

 
(in thousands)
 
March 31, 2012
 
Commercial
 
 
 
 
 
Consumer
 
 
 
 
 
Real Estate
 
Commercial
 
Residential
 
& Other
 
Unallocated
 
Total
Allowance for non-covered loans and leases:
Collectively evaluated for impairment
$
57,260

 
$
17,886

 
$
6,103

 
$
862

 
$
3,790

 
$
85,901

Individually evaluated for impairment
766

 
—

 
3

 
—

 
—

 
769

Total
$
58,026

 
$
17,886

 
$
6,106

 
$
862

 
$
3,790

 
$
86,670

Non-covered loans and leases:
 
 
 
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
3,726,385

 
$
1,427,710

 
$
610,297

 
$
37,082

 
 
 
$
5,801,474

Individually evaluated for impairment
127,471

 
23,581

 
128

 
—

 
 
 
151,180

Total
$
3,853,856

 
$
1,451,291

 
$
610,425

 
$
37,082

 
 
 
$
5,952,654
Schedule of Reserve for Unfunded Commitments and Unfunded Commitments
The following table presents a summary of activity in the reserve for unfunded commitments (“RUC”) and unfunded commitments for the three months ended March 31, 2013 and 2012, respectively: 

(in thousands) 
 
Three months ended March 31, 2013
 
Commercial
 
 
 
 
 
Consumer
 
 
 
Real Estate
 
Commercial
 
Residential
 
& Other
 
Total
Balance, beginning of period
$
172

 
$
807

 
$
173

 
$
71

 
$
1,223

Net change to other expense
(13
)
 
43

 
9

 
7

 
46

Balance, end of period
$
159

 
$
850

 
$
182

 
$
78

 
$
1,269


(in thousands) 
 
Three months ended March 31, 2012
 
Commercial
 
 
 
 
 
Consumer
 
 
 
Real Estate
 
Commercial
 
Residential
 
& Other
 
Total
Balance, beginning of period
$
59

 
$
633

 
$
185

 
$
63

 
$
940

Net change to other expense
38

 
145

 
(22
)
 
1

 
162

Balance, end of period
$
97

 
$
778

 
$
163

 
$
64

 
$
1,102


(in thousands)  
 
Commercial
 
 
 
 
 
Consumer
 
 
 
Real Estate
 
Commercial
 
Residential
 
& Other
 
Total
Unfunded loan commitments:
 
 
 
 
 
 
 
 
 
March 31, 2013
$
183,996

 
$
984,672

 
$
270,510

 
$
54,240

 
$
1,493,418

March 31, 2012
$
86,373

 
$
875,399

 
$
246,680

 
$
49,945

 
$
1,258,397
Non-Covered Loans Sold
The following table summarizes loans sold by loan portfolio during the three months ended March 31, 2013 and 2012, respectively: 
 
(In thousands) 
 
Three months ended
 
March 31,
 
2013
 
2012
Commercial real estate
 
 
 
Term & multifamily
$
2,850

 
$
3,652

Construction & development
3,515

 
—

Residential development
23

 
—

Commercial
 
 
 
Term
11,127

 
—

LOC & other
—

 
776

Total
$
17,515

 
$
4,428
Non-Covered Non-Accrual Loans And Loans Past Due
The following table summarizes our non-covered non-accrual loans and loans past due by loan class as of March 31, 2013 and December 31, 2012: 

(in thousands)
 
March 31, 2013
 
30-59
 
60-89
 
Greater Than
 
 
 
 
 
 
 
Total Non-
 
Days
 
Days
 
90 Days and
 
Total
 
 
 
Current &
 
covered Loans
 
Past Due
 
Past Due
 
Accruing
 
Past Due
 
Nonaccrual
 
Other (1)
 
and Leases
Commercial real estate
 

 
 

 
 

 
 

 
 

 
 

 
 

Term & multifamily
$
13,542

 
$
3,947

 
$
238

 
$
17,727

 
$
35,591

 
$
3,892,200

 
$
3,945,518

Construction & development
—

 
917

 
—

 
917

 
—

 
195,746

 
196,663

Residential development
—

 
605

 
—

 
605

 
4,964

 
52,304

 
57,873

Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
Term
3,662

 
12,389

 
2

 
16,053

 
11,623

 
756,517

 
784,193

LOC & other
581

 
368

 
—

 
949

 
3,007

 
901,375

 
905,331

Residential
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage
1,939

 
84

 
4,493

 
6,516

 
—

 
480,476

 
486,992

Home equity loans & lines
738

 
786

 
992

 
2,516

 
49

 
254,797

 
257,362

Consumer & other
212

 
30

 
99

 
341

 
—

 
40,549

 
40,890

Total
$
20,674

 
$
19,126

 
$
5,824

 
$
45,624

 
$
55,234

 
$
6,573,964

 
$
6,674,822

Deferred loan fees, net
 
 
 
 
 
 
 
 
 

 
 
 
(11,636
)
Total
 

 
 

 
 

 
 

 
 

 
 

 
$
6,663,186


(1) Other includes non-covered loans accounted for under ASC 310-30.

(in thousands) 
 
December 31, 2012
 
30-59
 
60-89
 
Greater Than
 
 
 
 
 
 
 
Total Non-
 
Days
 
Days
 
90 Days and
 
Total
 
 
 
Current &
 
covered Loans
 
Past Due
 
Past Due
 
Accruing
 
Past Due
 
Nonaccrual
 
Other (1)
 
and Leases
Commercial real estate
 

 
 

 
 

 
 

 
 

 
 

 
 

Term & multifamily
$
7,747

 
$
2,784

 
$
—

 
$
10,531

 
$
43,290

 
$
3,884,622

 
$
3,938,443

Construction & development
283

 
—

 
—

 
283

 
4,177

 
197,658

 
202,118

Residential development
479

 
—

 
—

 
479

 
5,132

 
51,598

 
57,209

Commercial
 
 
 
 
 

 
 
 
 
 
 
 
 
Term
3,009

 
746

 
81

 
3,836

 
7,040

 
786,926

 
797,802

LOC & other
1,647

 
1,503

 
—

 
3,150

 
7,027

 
913,151

 
923,328

Residential
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage
2,906

 
602

 
3,303

 
6,811

 
—

 
469,768

 
476,579

Home equity loans & lines
1,398

 
214

 
758

 
2,370

 
49

 
258,378

 
260,797

Consumer & other
282

 
191

 
90

 
563

 
21

 
36,743

 
37,327

Total
$
17,751

 
$
6,040

 
$
4,232

 
$
28,023

 
$
66,736

 
$
6,598,844

 
$
6,693,603

Deferred loan fees, net
 
 
 
 
 
 
 
 
 

 
 
 
(12,523
)
Total
 

 
 

 
 

 
 

 
 

 
 

 
$
6,681,080


(1) Other includes non-covered loans accounted for under ASC 310-30.
Non-Covered Impaired Loans
The following table summarizes our non-covered impaired loans by loan class as of March 31, 2013 and December 31, 2012: 
 
(in thousands)
 
March 31, 2013
 
Unpaid
 
 
 
 
 
Principal
 
Recorded
 
Related
 
Balance
 
Investment
 
Allowance
With no related allowance recorded:
 
 
 
 
 
Commercial real estate
 
 
 
 
 
Term & multifamily
$
39,863

 
$
34,307

 
$
—

Construction & development
12,420

 
11,400

 
—

Residential development
8,729

 
5,513

 
—

Commercial
 
 
 
 
 
Term
26,198

 
11,623

 
—

LOC & other
7,957

 
3,007

 
—

Residential
 
 
 
 
 
Mortgage
—

 
—

 
—

Home equity loans & lines
50

 
49

 
—

Consumer & other
—

 
—

 
—

With an allowance recorded:
 
 
 
 
 
Commercial real estate
 
 
 
 
 
Term & multifamily
46,521

 
46,521

 
1,713

Construction & development
1,091

 
1,091

 
13

Residential development
15,721

 
15,721

 
211

Commercial
 
 
 
 
 
Term
3,475

 
3,475

 
12

LOC & other
1,270

 
1,270

 
4

Residential
 
 
 
 
 
Mortgage
289

 
289

 
—

Home equity loans & lines
—

 
—

 
—

Consumer & other
—

 
—

 
—

Total:
 
 
 
 
 
Commercial real estate
124,345

 
114,553

 
1,937

Commercial
38,900

 
19,375

 
16

Residential
339

 
338

 
—

Consumer & other
—

 
—

 
—

Total
$
163,584

 
$
134,266

 
$
1,953

 
 
(in thousands)
 
December 31, 2012
 
Unpaid
 
 
 
 
 
Principal
 
Recorded
 
Related
 
Balance
 
Investment
 
Allowance
With no related allowance recorded:
 
 
 
 
 
Commercial real estate
 
 
 
 
 
Term & multifamily
$
49,953

 
$
43,406

 
$
—

Construction & development
18,526

 
15,638

 
—

Residential development
9,293

 
6,091

 
—

Commercial
 
 
 
 
 
Term
13,729

 
10,532

 
—

LOC & other
10,778

 
7,846

 
—

Residential
 
 
 
 
 
Mortgage
—

 
—

 
—

Home equity loans & lines
50

 
49

 
—

Consumer & other
21

 
21

 
—

With an allowance recorded:
 
 
 
 
 
Commercial real estate
 
 
 
 
 
Term & multifamily
41,016

 
41,016

 
1,198

Construction & development
1,091

 
1,091

 
14

Residential development
16,593

 
16,593

 
184

Commercial
 
 
 
 
 
Term
—

 
—

 
—

LOC & other
—

 
—

 
—

Residential
 
 
 
 
 
Mortgage
—

 
—

 
—

Home equity loans & lines
126

 
126

 
5

Consumer & other
—

 
—

 
—

Total:
 
 
 
 
 
Commercial real estate
136,472

 
123,835

 
1,396

Commercial
24,507

 
18,378

 
—

Residential
176

 
175

 
5

Consumer & other
21

 
21

 
—

Total
$
161,176

 
$
142,409

 
$
1,401
Schedule Of Average Recorded Investment And Interest Income Recognized
The following table summarizes our average recorded investment and interest income recognized on impaired non-covered loans by loan class for the three months ended March 31, 2013 and 2012: 

(in thousands) 
 
Three months ended
 
Three months ended
 
March 31, 2013
 
March 31, 2012
 
Average
 
Interest
 
Average
 
Interest
 
Recorded
 
Income
 
Recorded
 
Income
 
Investment
 
Recognized
 
Investment
 
Recognized
With no related allowance recorded:
 
 
 
 
 
 
 
Commercial real estate
 
 
 
 
 
 
 
Term & multifamily
$
39,679

 
$
—

 
$
45,092

 
$
—

Construction & development
14,649

 
—

 
19,937

 
—

Residential development
10,515

 
—

 
21,000

 
—

Commercial
 
 
 
 
 
 
 
Term
11,795

 
—

 
12,612

 
—

LOC & other
5,478

 
—

 
9,220

 
—

Residential
 
 
 
 
 
 
 
Mortgage
—

 
—

 
—

 
—

Home equity loans & lines
175

 
—

 
—

 
—

Consumer & other
2

 
—

 
—

 
—

With an allowance recorded:
 
 
 
 
 
 
 
Commercial real estate
 
 
 
 
 
 
 
Term & multifamily
37,729

 
386

 
22,914

 
242

Construction & development
1,746

 
149

 
2,742

 
246

Residential development
17,069

 
163

 
22,171

 
221

Commercial
 
 
 
 
 
 
 
Term
1,959

 
42

 
925

 
53

LOC & other
1,033

 
11

 
1,988

 
36

Residential
 
 
 
 
 
 
 
Mortgage
145

 
—

 
—

 
—

Home equity loans & lines
64

 
—

 
129

 
2

Consumer & other
—

 
—

 
—

 
—

Total:
 
 
 
 
 
 
 
Commercial real estate
121,387

 
698

 
133,856

 
709

Commercial
20,265

 
53

 
24,745

 
89

Residential
384

 
—

 
129

 
2

Consumer & other
2

 
—

 
—

 
—

Total
$
142,038

 
$
751

 
$
158,730

 
$
800
Internal Risk Rating By Loan Class
The following table summarizes our internal risk rating by loan class for the non-covered loan portfolio as of March 31, 2013 and December 31, 2012: 
 
(in thousands)  
 
March 31, 2013
 
Pass/Watch
 
Special Mention
 
Substandard
 
Doubtful
 
Loss
 
Impaired
 
Total
Commercial real estate
 
 
 
 
 
 
 
 
 
 
 
 
 
Term & multifamily
$
3,534,943

 
$
176,345

 
$
153,402

 
$
—

 
$
—

 
$
80,828

 
$
3,945,518

Construction & development
174,269

 
7,679

 
2,224

 
—

 
—

 
12,491

 
196,663

Residential development
27,074

 
4,608

 
4,957

 
—

 
—

 
21,234

 
57,873

Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
Term
713,414

 
18,650

 
37,031

 
—

 
—

 
15,098

 
784,193

LOC & other
865,198

 
23,616

 
12,240

 
—

 
—

 
4,277

 
905,331

Residential
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage
480,286

 
1,649

 
2,208

 
—

 
2,560

 
289

 
486,992

Home equity loans & lines
254,797

 
1,524

 
155

 
—

 
837

 
49

 
257,362

Consumer & other
40,549

 
242

 
19

 
—

 
80

 
—

 
40,890

Total
$
6,090,530

 
$
234,313

 
$
212,236

 
$
—

 
$
3,477

 
$
134,266

 
$
6,674,822

Deferred loan fees, net
 
 
 
 
 
 
 
 
 
 
 
 
(11,636
)
Total
 
 
 
 
 
 
 
 
 
 
 
 
$
6,663,186


(in thousands)
 
December 31, 2012
 
Pass/Watch
 
Special Mention
 
Substandard
 
Doubtful
 
Loss
 
Impaired
 
Total
Commercial real estate
 
 
 
 
 
 
 
 
 
 
 
 
 
Term & multifamily
$
3,515,753

 
$
203,643

 
$
134,625

 
$
—

 
$
—

 
$
84,422

 
$
3,938,443

Construction & development
166,660

 
12,666

 
6,063

 
—

 
—

 
16,729

 
202,118

Residential development
25,082

 
4,379

 
5,064

 
—

 
—

 
22,684

 
57,209

Commercial
 
 
 
 
 
 
 
 
 
 
 
 
 
Term
718,122

 
22,255

 
46,893

 
—

 
—

 
10,532

 
797,802

LOC & other
880,385

 
19,521

 
15,576

 
—

 
—

 
7,846

 
923,328

Residential
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage
469,325

 
3,507

 
1,120

 
—

 
2,627

 
—

 
476,579

Home equity loans & lines
258,252

 
1,612

 
—

 
—

 
758

 
175

 
260,797

Consumer & other
36,797

 
419

 
57

 
—

 
33

 
21

 
37,327

Total
$
6,070,376

 
$
268,002

 
$
209,398

 
$
—

 
$
3,418

 
$
142,409

 
$
6,693,603

Deferred loan fees, net
 
 
 
 
 
 
 
 
 
 
 
 
(12,523
)
Total
 
 
 
 
 
 
 
 
 
 
 
 
$
6,681,080
Schedule Of Troubled Debt Restructurings
The following tables present newly non-covered restructured loans that occurred during the three months ended March 31, 2013 and 2012, respectively: 
 
(in thousands)
 
Three months ended March 31, 2013
 
Rate
 
Term
 
Interest Only
 
Payment
 
Combination
 
Total
 
Modifications
 
Modifications
 
Modifications
 
Modifications
 
Modifications
 
Modifications
Commercial real estate
 
 
 
 
 
 
 
 
 
 
 
Term & multifamily
$
—

 
$
—

 
$
4,291

 
$
—

 
$
—

 
$
4,291

Construction & development
—

 
—

 
—

 
—

 
—

 
—

Residential development
—

 
—

 
—

 
—

 
—

 
—

Commercial
 
 
 
 
 
 
 
 
 
 
 
Term
—

 
—

 
—

 
—

 
—

 
—

LOC & other
—

 
—

 
—

 
—

 
452

 
452

Residential
 
 
 
 
 
 
 
 
 
 
 
Mortgage
—

 
—

 
—

 
—

 
289

 
289

Home equity loans & lines
—

 
—

 
—

 
—

 
—

 
—

Consumer & other
—

 
—

 
—

 
—

 
—

 
—

Total
$
—

 
$
—

 
$
4,291

 
$
—

 
$
741

 
$
5,032

 
(in thousands)
 
Three months ended March 31, 2012
 
Rate
 
Term
 
Interest Only
 
Payment
 
Combination
 
Total
 
Modifications
 
Modifications
 
Modifications
 
Modifications
 
Modifications
 
Modifications
Commercial real estate
 
 
 
 
 
 
 
 
 
 
 
Term & multifamily
$
—

 
$
—

 
$
—

 
$
—

 
$
803

 
$
803

Construction & development
—

 
—

 
—

 
—

 
—

 
—

Residential development
—

 
—

 
—

 
—

 
—

 
—

Commercial
 
 
 
 
 
 
 
 
 
 
 
Term
—

 
—

 
—

 
—

 
—

 
—

LOC & other
—

 
—

 
—

 
—

 
—

 
—

Residential
 
 
 
 
 
 
 
 
 
 
 
Mortgage
—

 
—

 
—

 
—

 
—

 
—

Home equity loans & lines
—

 
—

 
—

 
—

 
—

 
—

Consumer & other
—

 
—

 
—

 
—

 
—

 
—

Total
$
—

 
$
—

 
$
—

 
$
—

 
$
803

 
$
803

  
For the periods presented in the tables above, the outstanding recorded investment was the same pre and post modification. 
 
The following tables represent financing receivables modified as troubled debt restructurings within the previous 12 months for which there was a payment default during the three months ended March 31, 2013 and 2012, respectively: 
 
 
 
(in thousands)
 
Three months ended
 
March 31,
 
2013
 
2012
Commercial real estate
 
 
 
Term & multifamily
$
—

 
$
217

Construction & development
—

 
—

Residential development
—

 
—

Commercial
 
 
 
Term
—

 
—

LOC & other
—

 
26

Residential
 
 
 
Mortgage
—

 
—

Home equity loans & lines
—

 
—

Consumer & other
—

 
—

Total
$
—

 
$
243

The following tables present troubled debt restructurings by accrual versus non-accrual status and by loan class as of March 31, 2013 and December 31, 2012: 

(in thousands) 
 
March 31, 2013
 
Accrual
 
Non-Accrual
 
Total
 
Status
 
Status
 
Modifications
Commercial real estate
 
 
 
 
 
Term & multifamily
$
43,733

 
$
15,802

 
$
59,535

Construction & development
12,492

 
—

 
12,492

Residential development
15,957

 
4,758

 
20,715

Commercial
 
 
 
 
 
Term
351

 
4,569

 
4,920

LOC & other
1,270

 
489

 
1,759

Residential
 
 
 
 
 
Mortgage
289

 
—

 
289

Home equity loans & lines
—

 
—

 
—

Consumer & other
—

 
—

 
—

Total
$
74,092

 
$
25,618

 
$
99,710

 
(in thousands)
 
December 31, 2012
 
Accrual
 
Non-Accrual
 
Total
 
Status
 
Status
 
Modifications
Commercial real estate
 
 
 
 
 
Term & multifamily
$
39,613

 
$
16,605

 
$
56,218

Construction & development
12,552

 
3,516

 
16,068

Residential development
17,141

 
4,921

 
22,062

Commercial
 
 
 
 
 
Term
350

 
4,641

 
4,991

LOC & other
820

 
1,493

 
2,313

Residential
 
 
 
 
 
Mortgage
—

 
—

 
—

Home equity loans & lines
126

 
—

 
126

Consumer & other
—

 
—

 
—

Total
$
70,602

 
$
31,176

 
$
101,778