Covered Assets and FDIC Indemnification Asset (Tables)

6 Months Ended

Jun. 30, 2011

Covered Assets and FDIC Indemnification Asset

Number Of Loans And Acquired Unpaid Principal Balance

	Evergreen		Rainier Pacific		Nevada Security
Performing loans ("Analogized ASC 310-30"):
Number of Pools		15		19		19
Number of Loans		1,263		3,647		402
Acquired Unpaid Principal Balance	$	247.9	$	516.9	$	224.2
Non-performing loans ("Classic ASC 310-30"):
Number of Pools		8		10		9
Number of Loans		127		39		106
Acquired Unpaid Principal Balance	$	120.6	$	44.5	$	103.4
Total Portfolio:
Number of Pools		23		29		28
Number of Loans		1,390		3,686		508
Acquired Unpaid Principal Balance	$	368.5	$	561.4	$	327.6

Estimated Fair Value of Acquired Loans

	Evergreen		Rainier		Nevada Security		Total
	January 22, 2010		February 26, 2010		June 18, 2010
Commercial real estate
Term & multifamily	$	141,076	$	331,869	$	154,119	$	627,064
Construction & development		18,832		562		9,481		28,875
Residential development		16,219		10,340		15,641		42,200
Commercial
Term		27,272		14,850		18,257		60,379
LOC & other		23,965		18,169		11,408		53,542
Residential
Mortgage		11,886		39,897		1,539		53,322
Home equity loans & lines		8,308		31,029		4,421		43,758
Consumer & other		4,935		11,624		641		17,200
Total	$	252,493	$	458,340	$	215,507	$	926,340

Reconciliation of Acquired Loan Portfolios

	Evergreen			Rainier			Nevada Security			Total
	January 22, 2010			February 26, 2010			June 18, 2010
Undiscounted contractual cash flows	$	498,216		$	821,972		$	396,134		$	1,716,322
Undiscounted cash flows not expected to be collected (nonaccretable difference)		(124,131	)		(125,774	)		(115,021	)		(364,926	)
Undiscounted cash flows expected to be collected		374,085			696,198			281,113			1,351,396
Accretable yield at acquisition		(121,592	)		(237,858	)		(65,606	)		(425,056	)
Estimated fair value of loans acquired at acquisition	$	252,493		$	458,340		$	215,507		$	926,340

Covered Loans

	June 30, 2011
	Evergreen		Rainier		Nevada Security		Total
Commercial real estate
Term & multifamily	$	107,772	$	276,358	$	131,819	$	515,949
Construction & development		12,398		690		6,730		19,818
Residential development		7,055		171		8,721		15,947
Commercial
Term		15,406		8,913		12,932		37,251
LOC & other		9,655		12,623		6,202		28,480
Residential
Mortgage		8,079		31,120		1,869		41,068
Home equity loans & lines		5,278		22,925		3,251		31,454
Consumer & other		2,293		6,416		-		8,709
Total	$	167,936	$	359,216	$	171,524	$	698,676

	December 31, 2010
	Evergreen		Rainier		Nevada Security		Total
Commercial real estate
Term & multifamily	$	124,743	$	303,585	$	141,314	$	569,642
Construction & development		14,162		854		7,419		22,435
Residential development		11,024		2,310		11,372		24,706
Commercial
Term		18,828		10,811		12,961		42,600
LOC & other		11,876		14,320		9,031		35,227
Residential
Mortgage		8,129		35,026		1,669		44,824
Home equity loans & lines		6,737		25,163		3,725		35,625
Consumer & other		2,781		8,058		-		10,839
Total	$	198,280	$	400,127	$	187,491	$	785,898

Changes in Accretable Yield in Acquired Loans

	Three months ended June 30,
	2011
	Evergreen			Rainier			Nevada Security			Total
Balance, beginning of period	$	75,081		$	155,285		$	69,301		$	299,667
Accretion to interest income		(7,904	)		(8,396	)		(5,926	)		(22,226	)
Disposals		(4,181	)		(2,803	)		(1,403	)		(8,387	)
Reclassifications (to)/from nonaccretable difference		4,473			(89	)		6,622			11,006
Balance, end of period	$	67,469		$	143,997		$	68,594		$	280,060
	Three months ended June 30,
	2010
	Evergreen			Rainier			Nevada Security			Total
Balance, beginning of period	$	118,119		$	233,678		$	-		$	351,797
Additions resulting from acquisitions		-			-			65,606			65,606
Accretion to interest income		(3,528	)		(8,575	)		(553	)		(12,656	)
Disposals		(2,234	)		(1,931	)		(90	)		(4,255	)
Reclassifications (to)/from nonaccretable difference		(28,422	)		(17,490	)		86			(45,826	)
Balance, end of period	$	83,935		$	205,682		$	65,049		$	354,666
	Six months ended June 30,
	2011
	Evergreen			Rainier			Nevada Security			Total
Balance, beginning of period	$	90,771		$	172,615		$	73,515		$	336,901
Accretion to interest income		(15,613	)		(17,111	)		(11,049	)		(43,773	)
Disposals		(6,973	)		(9,447	)		(2,807	)		(19,227	)
Reclassifications (to)/from nonaccretable difference		(716	)		(2,060	)		8,935			6,159
Balance, end of period	$	67,469		$	143,997		$	68,594		$	280,060
	Six months ended June 30,
	2010
	Evergreen			Rainier			Nevada Security			Total
Balance, beginning of period	$	-		$	-		$	-		$	-
Additions resulting from acquisitions		121,592			237,858			65,606			425,056
Accretion to interest income		(6,759	)		(11,599	)		(553	)		(18,911	)
Disposals		(2,825	)		(3,388	)		(90	)		(6,303	)
Reclassifications (to)/from nonaccretable difference		(28,073	)		(17,189	)		86			(45,176	)
Balance, end of period	$	83,935		$	205,682		$	65,049		$	354,666

Internal Risk Rating by Coverd Loans Class

	June 30, 2011
	Pass/ Watch		Special Mention		Substandard		Doubtful/Loss		Total
Commercial real estate
Term & multifamily	$	419,493	$	38,176	$	47,689	$	10,591	$	515,949
Construction & development		3,060		2,919		8,489		5,350		19,818
Residential development		1,646		-		9,012		5,289		15,947
Commercial
Term		24,285		1,970		8,385		2,611		37,251
LOC & other		19,506		1,953		6,720		301		28,480
Residential
Mortgage		41,051		-		17		-		41,068
Home equity loans & lines		31,393		-		61		-		31,454
Consumer & other		8,709		-		-		-		8,709
Total	$	549,143	$	45,018	$	80,373	$	24,142	$	698,676
	December 31, 2010
	Pass/ Watch		Special Mention		Substandard		Doubtful/Loss		Total
Commercial real estate
Term & multifamily	$	485,238	$	32,150	$	44,833	$	7,421	$	569,642
Construction & development		6,155		3,799		7,640		4,841		22,435
Residential development		6,625		1,322		12,907		3,852		24,706
Commercial
Term		31,760		2,119		7,087		1,634		42,600
LOC & other		22,960		4,246		7,183		838		35,227
Residential
Mortgage		44,524		-		300		-		44,824
Home equity loans & lines		34,998		-		627		-		35,625
Consumer & other		10,827		-		12		-		10,839
Total	$	643,087	$	43,636	$	80,589	$	18,586	$	785,898

Summary of Activity in Covered Other Real Estate Owned

	Three months ended June 30,						Six months ended June 30,
	2011			2010			2011			2010
Balance, beginning of period	$	27,689		$	8,995		$	29,863		$	-
Acquisition		-			17,938			-			26,939
Additions to covered OREO		5,632			2,560			8,668			2,669
Dispositions of covered OREO		(2,503	)		(1,198	)		(6,457	)		(1,313	)
Valuation adjustments in the period		(665	)		(5	)		(1,921	)		(5	)
Balance, end of period	$	30,153		$	28,290		$	30,153		$	28,290

Summary of Activity Related to the FDIC Indemnification Asset

	Three months ended June 30,
	2011
	Evergreen			Rainier			Nevada Security			Total
Balance, beginning of period	$	40,379		$	37,875		$	53,618		$	131,872
Change in FDIC indemnification asset		(2,895	)		(811	)		(1,845	)		(5,551	)
Transfers to due from FDIC and other		(1,366	)		(1,065	)		(6,962	)		(9,393	)
Balance, end of period	$	36,118		$	35,999		$	44,811			116,928
	Three months ended June 30,
	2010
	Evergreen			Rainier			Nevada Security			Total
Balance, beginning of period	$	71,696		$	70,259		$	-		$	141,955
Acquisitions		-			-			99,160			99,160
Change in FDIC indemnification asset		539			(360	)		84			263
Transfers to due from FDIC and other		(167	)		(15,301	)		(556	)		(16,024	)
Balance, end of period	$	72,068		$	54,598		$	98,688		$	225,354
	Six months ended June 30,
	2011
	Evergreen			Rainier			Nevada Security			Total
Balance, beginning of period	$	40,606		$	43,726		$	62,081		$	146,413
Change in FDIC indemnification asset		1,850			(4,921	)		425			(2,646	)
Transfers to due from FDIC and other		(6,338	)		(2,806	)		(17,695	)		(26,839	)
Balance, end of period	$	36,118		$	35,999		$	44,811			116,928
	Six months ended June 30,
	2010
	Evergreen			Rainier			Nevada Security			Total
Balance, beginning of period	$	-		$	-		$	-		$	-
Acquisitions		71,755			76,603			99,160			247,518
Change in FDIC indemnification asset		939			(150	)		84			873
Transfers to due from FDIC and other		(626	)		(21,855	)		(556	)		(23,037	)
Balance, end of period	$	72,068		$	54,598		$	98,688		$	225,354