Loans and Leases

6 Months Ended

Jun. 30, 2016

Receivables [Abstract]

Loans and Leases

Loans and Leases

The following table presents the major types of loans and leases, net of deferred fees and costs, as of June 30, 2016 and December 31, 2015: 

(in thousands)	June 30,		December 31,
	2016		2015
Commercial real estate
Non-owner occupied term, net	$	3,377,464	$	3,226,836
Owner occupied term, net	2,581,786		2,582,874
Multifamily, net	3,004,890		3,151,516
Construction & development, net	367,879		271,119
Residential development, net	111,941		99,459
Commercial
Term, net	1,440,704		1,408,676
LOC & other, net	1,116,876		1,036,733
Leases and equipment finance, net	884,506		729,161
Residential
Mortgage, net	2,882,076		2,909,306
Home equity loans & lines, net	989,814		923,667
Consumer & other, net	597,304		527,189
Total loans and leases, net of deferred fees and costs	$	17,355,240	$	16,866,536

The loan balances are net of deferred fees and costs of $63.3 million and $47.0 million as of June 30, 2016 and December 31, 2015, respectively. Net loans include discounts on acquired loans of $67.1 million and $105.6 million as of June 30, 2016 and December 31, 2015, respectively. As of June 30, 2016, loans totaling $10.0 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 $449.0 million and $540.4 million at June 30, 2016 and December 31, 2015, respectively. The carrying balance of purchased impaired loans was $330.9 million and $438.1 million at June 30, 2016 and December 31, 2015, respectively.

The following table presents the changes in the accretable yield for purchased impaired loans for the three and six months ended June 30, 2016 and 2015:

(in thousands)	Three Months Ended
	June 30,
	2016			2015
Balance, beginning of period	$	114,335		$	185,587
Accretion to interest income	(9,977		)	(15,149		)
Disposals	(2,748		)	(8,343		)
Reclassifications from nonaccretable difference	9,769			3,267
Balance, end of period	$	111,379		$	165,362
	Six Months Ended
	June 30,
	2016			2015
Balance, beginning of period	$	132,829		$	201,699
Accretion to interest income	(24,175		)	(28,432		)
Disposals	(11,261		)	(15,256		)
Reclassifications from nonaccretable difference	13,986			7,351
Balance, end of period	$	111,379		$	165,362

Loans and leases sold 

In the course of managing the loan and lease portfolio, at certain times, management may decide to sell loans and leases.  The following table summarizes the carrying value of loans and leases sold by major loan type during the three and six months ended June 30, 2016 and 2015: 

(in thousands)	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2016		2015		2016		2015
Commercial real estate
Non-owner occupied term, net	$	8,765	$	7,181	$	17,274	$	7,181
Owner occupied term, net	8,242		16,641		17,903		19,960
Multifamily, net	400		—		129,830		435
Commercial
Term, net	1,426		1,080		2,920		3,420
Residential
Mortgage, net	135,731		51,680		135,731		118,433
Total	$	154,564	$	76,582	$	303,658	$	149,429

As of June 30, 2016, the Company had transferred $9.8 million of portfolio residential mortgage loans to held for sale that are expected to be sold during the third quarter of 2016. These portfolio loans were transferred to held for sale at the lower of cost or fair value, and no loss was incurred upon transfer.