Non-Covered Loans and Leases

12 Months Ended

Dec. 31, 2013

Receivables [Abstract]

Non-Covered Loans and Leases

Non-Covered Loans and Leases 

The following table presents the major types of non-covered loans and leases, net of deferred fees and costs of $495,000 and $12.1 million, recorded in the balance sheets as of December 31, 2013 and 2012: 

(in thousands)

	December 31,		December 31,
	2013		2012
Commercial real estate
Non-owner occupied term, net	$	2,328,260	$	2,316,909
Owner occupied term, net	1,259,583		1,276,840
Multifamily, net	403,537		331,735
Construction & development, net	245,231		200,631
Residential development, net	88,413		57,139
Commercial
Term, net	770,845		797,061
LOC & other, net	987,360		890,808
Leases and equipment finance, net	361,591		31,270
Residential
Mortgage, net	597,201		478,463
Home equity loans & lines, net	264,269		262,637
Consumer & other, net	48,113		37,587
Total loans and leases, net of deferred fees and costs	$	7,354,403	$	6,681,080

As of December 31, 2013, loans totaling $5.3 billion were pledged to secure borrowings and available lines of credit.

At December 31, 2013, non-covered loans accounted for under ASC 310-30 were $21.9 million. At December 31, 2012, non-covered loans accounted for under ASC 310-30 were $19.3 million.

The following table presents the net investment in direct financing leases and loans, net as ofDecember 31, 2013 and 2012: 

(in thousands)

	December 31,			December 31,
	2013			2012
Minimum lease payments receivable	$	242,220		$	26,265
Estimated guaranteed and unguaranteed residual value	8,455			3,163
Initial direct costs - net of accumulated amortization	3,824			—
Unearned income	(55,110		)	(3,238		)
Equipment finance loans, including unamortized deferred fees and costs	151,721			—
Interim lease receivables	6,752			5,080
Accretable yield/purchase accounting adjustments	3,729			—
Net investment in direct financing leases and loans	$	361,591		$	31,270
Allowance for credit losses	(3,775		)	(225		)
Net investment in direct financing leases and loans - net	$	357,816		$	31,045

The following table presents the scheduled minimum lease payments receivable, excluding equipment finance loans, as of December 31, 2013:

(in thousands)

2014	$	96,275
2015	68,310
2016	42,366
2017	23,790
2018	9,333
Thereafter	2,146
	$	242,220