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Loans and Leases
 3 Months Ended
Mar. 31, 2015
Receivables [Abstract]  
Non-Covered Loans and Leases
Note 4 – Loans and Leases  
 
The following table presents the major types of loans and leases, net of deferred fees and costs, as of March 31, 2015 and December 31, 2014: 
(in thousands)
March 31,
 
December 31,
 
2015
 
2014
Commercial real estate
 
 
 
Non-owner occupied term, net
$
3,303,629

 
$
3,290,610

Owner occupied term, net
2,577,484

 
2,633,864

Multifamily, net
2,764,403

 
2,638,618

Construction & development, net
238,303

 
258,722

Residential development, net
81,160

 
81,846

Commercial
 
 
 
Term, net
1,128,986

 
1,102,987

LOC & other, net
1,275,871

 
1,322,722

Leases and equipment finance, net
570,492

 
523,114

Residential
 
 
 
Mortgage, net
2,330,325

 
2,233,735

Home equity loans & lines, net
863,269

 
852,478

Consumer & other, net
415,035

 
389,036

Total loans and leases, net of deferred fees and costs
$
15,548,957

 
$
15,327,732


 
The loan balances are net of deferred fees and costs of $31.7 million and $26.3 million as of March 31, 2015 and December 31, 2014, respectively. Net loans include discounts on acquired loans of $198.1 million and $236.6 million as of March 31, 2015 and December 31, 2014, respectively. As of March 31, 2015, loans totaling $8.4 billion were pledged to secure borrowings and available lines of credit.

The outstanding contractual unpaid principal balance of purchased impaired loans, excluding acquisition accounting adjustments, was $711.2 million and $770.9 million at March 31, 2015 and December 31, 2014, respectively. The carrying balance of purchased impaired loans was $521.1 million and $562.9 million at March 31, 2015 and December 31, 2014, respectively.

The following table presents the changes in the accretable yield for purchased impaired loans for the three months ended March 31, 2015 and 2014:
(in thousands)
 
Three Months Ended
 
 
March 31, 2015
 
 
Evergreen
 
Rainier
 
Nevada Security
 
Circle
 
Sterling
 
Total
Balance, beginning of period
 
$
9,466

 
$
49,989

 
$
23,666

 
$
796

 
$
117,782

 
$
201,699

Accretion to interest income
 
(1,722
)
 
(2,993
)
 
(2,892
)
 
(112
)
 
(5,564
)
 
(13,283
)
Disposals
 
(2,036
)
 
(632
)
 
(1,293
)
 
—

 
(2,952
)
 
(6,913
)
Reclassifications from (to) nonaccretable difference
 
2,240

 
1,654

 
1,149

 
37

 
(996
)
 
4,084

Balance, end of period
 
$
7,948

 
$
48,018

 
$
20,630

 
$
721

 
$
108,270

 
$
185,587

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
 
 
 
March 31, 2014
 
 
 
 
Evergreen
 
Rainier
 
Nevada Security
 
Circle
 
Total
 
 
Balance, beginning of period
 
$
20,063

 
$
71,789

 
$
34,632

 
$
1,140

 
$
127,624

 
 
Accretion to interest income
 
(3,637
)
 
(4,281
)
 
(4,464
)
 
(87
)
 
(12,469
)
 
 
Disposals
 
(1,240
)
 
(987
)
 
(1,630
)
 
—

 
(3,857
)
 
 
Reclassifications from nonaccretable difference
 
974

 
1,402

 
2,953

 
—

 
5,329

 
 
Balance, end of period
 
$
16,160

 
$
67,923

 
$
31,491

 
$
1,053

 
$
116,627

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


Loans acquired in a FDIC-assisted acquisition that are subject to a loss-share agreement are referred to as covered loans. Covered loans are reported exclusive of the cash flow reimbursements expected from the FDIC. The following table summarizes the activity related to the FDIC indemnification asset for the three months ended March 31, 2015 and 2014: 

(in thousands) 
Three Months ended
 
March 31,
 
2015
 
2014
Balance, beginning of period
$
4,417

 
$
23,174

Change in FDIC indemnification asset
(1,286
)
 
(4,840
)
Transfers to due from FDIC and other
(1,270
)
 
28

Balance, end of period
$
1,861

 
$
18,362