Loans and Leases

9 Months Ended

Sep. 30, 2018

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 September 30, 2018 and December 31, 2017: 

(in thousands)	September 30, 2018		December 31, 2017
Commercial real estate
Non-owner occupied term, net	$	3,527,357	$	3,483,197
Owner occupied term, net	2,474,845		2,476,654
Multifamily, net	3,225,538		3,060,616
Construction & development, net	646,684		540,696
Residential development, net	198,518		165,941
Commercial
Term, net	2,149,376		1,944,925
Lines of credit & other, net	1,133,508		1,166,275
Leases & equipment finance, net	1,282,128		1,167,503
Residential
Mortgage, net	3,468,569		3,182,888
Home equity loans & lines, net	1,143,351		1,097,877
Consumer & other, net	604,159		732,620
Total loans and leases, net of deferred fees and costs	$	19,854,033	$	19,019,192

The loan balances are net of deferred fees and costs of $72.1 million and $73.3 million as of September 30, 2018 and December 31, 2017, respectively. Net loans also include discounts on acquired loans of $53.9 million and $70.5 million as of September 30, 2018 and December 31, 2017, respectively. As of September 30, 2018, loans totaling $12.7 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 $196.0 million and $252.5 million at September 30, 2018 and December 31, 2017, respectively. The carrying balance of purchased impaired loans was $145.0 million and $189.1 million at September 30, 2018 and December 31, 2017, respectively.

The following table presents the changes in the accretable yield for purchased impaired loans for the three and nine months ended September 30, 2018 and 2017:

(in thousands)	Three Months Ended						Nine Months Ended
	September 30, 2018			September 30, 2017			September 30, 2018			September 30, 2017
Balance, beginning of period	$	62,966		$	82,306		$	74,268		$	95,579
Accretion to interest income	(3,793		)	(10,774		)	(19,694		)	(28,905		)
Disposals	(1,147		)	(2,721		)	(9,001		)	(10,270		)
Reclassifications from non-accretable difference	169			6,189			12,622			18,596
Balance, end of period	$	58,195		$	75,000		$	58,195		$	75,000

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 nine months ended September 30, 2018 and 2017: 

(in thousands)	Three Months Ended				Nine Months Ended
	September 30, 2018		September 30, 2017		September 30, 2018		September 30, 2017
Commercial real estate
Non-owner occupied term, net	$	3,215	$	3,596	$	8,369	$	7,519
Owner occupied term, net	12,751		10,936		26,843		38,158
Multifamily, net	4,432		—		4,432		—
Commercial
Term, net	13,331		5,932		33,120		12,449
Lines of credit & other, net	—		187		—		187
Leases & equipment finance, net	—		19,199		—		46,312
Residential
Mortgage, net	41,669		72,493		41,669		101,286
Total	$	75,398	$	112,343	$	114,433	$	205,911