Loans and Leases

12 Months Ended

Dec. 31, 2017

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 December 31, 2017 and 2016: 

(in thousands)	December 31, 2017		December 31, 2016
Commercial real estate
Non-owner occupied term, net	$	3,491,137	$	3,330,442
Owner occupied term, net	2,488,251		2,599,055
Multifamily, net	3,087,792		2,858,956
Construction & development, net	540,707		463,625
Residential development, net	165,865		142,984
Commercial
Term, net	1,944,987		1,508,780
Lines of credit & other, net	1,166,173		1,116,259
Leases and equipment finance, net	1,167,503		950,588
Residential
Mortgage, net	3,192,185		2,887,971
Home equity loans & lines, net	1,103,297		1,011,844
Consumer & other, net	732,287		638,159
Total loans, net of deferred fees and costs	$	19,080,184	$	17,508,663

The loan balances are net of deferred fees and costs of $73.3 million and $67.7 million as of December 31, 2017 and 2016, respectively. Net loans also include net discounts on acquired loans of $9.5 million and $41.3 million as of December 31, 2017 and 2016, respectively. As of December 31, 2017, loans totaling $12.0 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 $252.5 million and $368.2 million at December 31, 2017 and 2016, respectively. The carrying balance of purchased impaired loans was $189.1 million and $280.4 million at December 31, 2017 and 2016, respectively.

The following table presents the changes in the accretable yield for purchased impaired loans for the year ended December 31, 2017, and 2016:

(in thousands)	2017			2016
Balance, beginning of period	$	95,579		$	132,829
Accretion to interest income	(36,279		)	(44,795		)
Disposals	(13,120		)	(18,290		)
Reclassifications from nonaccretable difference	28,088			25,835
Balance, end of period	$	74,268		$	95,579

The following table presents the net investment in direct financing leases and loans as ofDecember 31, 2017 and 2016: 

(in thousands)	December 31, 2017			December 31, 2016
Minimum lease payments receivable	$	467,654		$	422,872
Estimated guaranteed and unguaranteed residual values	85,231			70,199
Initial direct costs - net of accumulated amortization	13,561			13,978
Unearned income	(93,268		)	(91,630		)
Equipment finance loans, including unamortized deferred fees and costs	694,322			535,143
Accretable yield/purchase accounting adjustments	3			26
Net investment in direct financing leases and loans	1,167,503			950,588
Allowance for credit losses	(35,286		)	(31,976		)
Net investment in direct financing leases and loans	$	1,132,217		$	918,612

The following table presents the scheduled minimum lease payments receivable, excluding equipment finance loans, as of December 31, 2017:

(in thousands)
Year	Amount
2018	$	148,870
2019	119,004
2020	87,701
2021	59,522
2022	27,468
Thereafter	25,089
	$	467,654

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 years endedDecember 31, 2017 and 2016:

(in thousands)	2017		2016
Commercial real estate
Non-owner occupied term, net	$	13,062	$	20,693
Owner occupied term, net	47,221		33,986
Multifamily, net	—		129,879
Construction & development, net	287		—
Commercial
Term, net	16,278		11,849
Lines of credit & other, net	187		—
Leases and equipment finance, net	76,082		26,851
Residential
Mortgage, net	101,286		239,196
Total	$	254,403	$	462,454