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LOANS AND LEASES (Tables)
6 Months Ended
Jun. 30, 2013
LOANS AND LEASES  
Summary of the composition of the entity's loan portfolio

 

 

 
  June 30, 2013   December 31, 2012  
 
  Non-PCI
Loans
and Leases
  PCI
Loans
  Total   Non-PCI
Loans
and Leases
  PCI
Loans
  Total  
 
  (In thousands)
 

Non-covered loans and leases

  $ 3,819,576   $ 19,639   $ 3,839,215   $ 3,049,505   $   $ 3,049,505  

Covered loans

    106,654     474,750     581,404     25,442     517,885     543,327  
                           

Total gross loans and leases

    3,926,230     494,389     4,420,619     3,074,947     517,885     3,592,832  

Unearned income

    (933 )       (933 )   (2,535 )       (2,535 )
                           

Total loans and leases, net of unearned income

    3,925,297     494,389     4,419,686     3,072,412     517,885     3,590,297  
                           

Allowance for loan and lease losses:

                                     

Non-covered loans and leases

    (63,246 )       (63,246 )   (65,899 )       (65,899 )

Covered loans

        (27,397 )   (27,397 )       (26,069 )   (26,069 )
                           

Total allowance for loan and lease losses

    (63,246 )   (27,397 )   (90,643 )   (65,899 )   (26,069 )   (91,968 )
                           

Total net loans and leases

  $ 3,862,051   $ 466,992   $ 4,329,043   $ 3,006,513   $ 491,816   $ 3,498,329  
                           
Summary of the activity in the allowance for loan and lease losses on Non-PCI loans and leases and PCI loans by portfolio segment

 

 

 
  Three Months Ended June 30, 2013  
 
  Real
Estate
Mortgage
  Real
Estate
Construction
  Commercial   Leases   Consumer   Foreign   Total
Non-PCI
  Total
PCI
  Total  
 
  (In thousands)
 

Allowance for Loan and Lease Losses:

                                                       

Balance, beginning of period

  $ 37,265   $ 3,300   $ 21,053   $ 2,006   $ 1,494   $ 98   $ 65,216   $ 29,303   $ 94,519  

Charge-offs

    (3,237 )       (1,370 )       (27 )       (4,634 )   (64 )   (4,698 )

Recoveries

    1,336     12     1,297         19         2,664         2,664  

Provision (negative provision)

    (3,560 )   120     3,185     90     181     (16 )       (1,842 )   (1,842 )
                                       

Balance, end of period

  $ 31,804   $ 3,432   $ 24,165   $ 2,096   $ 1,667   $ 82   $ 63,246   $ 27,397   $ 90,643  
                                       

 

 
  Six Months Ended June 30, 2013  
 
  Real
Estate
Mortgage
  Real
Estate
Construction
  Commercial   Leases   Consumer   Foreign   Total
Non-PCI
  Total
PCI
  Total  
 
  (In thousands)
 

Allowance for Loan and Lease Losses:

                                                       

Balance, beginning of period

  $ 38,700   $ 3,221   $ 20,661   $ 1,493   $ 1,726   $ 98   $ 65,899   $ 26,069   $ 91,968  

Charge-offs

    (3,559 )       (2,078 )   (114 )   (36 )       (5,787 )       (5,787 )

Recoveries

    1,513     335     1,704         42         3,594     33     3,627  

Provision (negative provision)

    (4,850 )   (124 )   3,878     717     (65 )   (16 )   (460 )   1,295     835  
                                       

Balance, end of period

  $ 31,804     3,432   $ 24,165   $ 2,096   $ 1,667   $ 82   $ 63,246   $ 27,397   $ 90,643  
                                       

Amount of the allowance applicable to loans and leases:

                                                       

Individually evaluated for impairment

  $ 3,548   $ 62   $ 7,270   $   $ 240   $   $ 11,120              
                                           

Collectively evaluated for impairment

  $ 28,256   $ 3,370   $ 16,895   $ 2,096   $ 1,427   $ 82   $ 52,126              
                                           

Acquired with deteriorated credit quality

                                            $ 27,397        
                                                       

Loans and Leases:

                                                       

Ending balance

  $ 2,558,190   $ 197,776   $ 909,509   $ 216,089   $ 28,593   $ 16,073   $ 3,926,230   $ 494,389   $ 4,420,619  
                                       

The ending balance of the loan and lease portfolio is composed of loans and leases:

                                                       

Individually evaluated for impairment

  $ 96,293   $ 14,966   $ 23,031   $ 244   $ 698   $   $ 135,232              
                                           

Collectively evaluated for impairment

  $ 2,461,897   $ 182,810   $ 886,478   $ 215,845   $ 27,895   $ 16,073   $ 3,790,998              
                                           

Acquired with deteriorated credit quality

                                            $ 494,389        
                                                       

 

 
  Three Months Ended June 30, 2012  
 
  Real
Estate
Mortgage
  Real
Estate
Construction
  Commercial   Leases   Consumer   Foreign   Total
Non-PCI
  Total
PCI
  Total  
 
  (In thousands)
 

Allowance for Loan and Lease Losses:

                                                       

Balance, beginning of period

  $ 42,210   $ 6,475   $ 23,556   $ 458   $ 1,908   $ 160   $ 74,767   $ 35,810   $ 110,577  

Charge-offs

    (2,583 )       (1,352 )       (34 )       (3,969 )   (4,076 )   (8,045 )

Recoveries

    43     14     190         16         263         263  

Provision (negative provision)

    2,566     (993 )   (415 )   40     (155 )   (43 )   1,000     (271 )   729  
                                       

Balance, end of period

  $ 42,236   $ 5,496   $ 21,979   $ 498   $ 1,735   $ 117   $ 72,061   $ 31,463   $ 103,524  
                                       

 

 
  Six Months Ended June 30, 2012  
 
  Real
Estate
Mortgage
  Real
Estate
Construction
  Commercial   Leases   Consumer   Foreign   Total
Non-PCI
  Total
PCI
  Total  
 
  (In thousands)
 

Allowance for Loan and Lease Losses:

                                                       

Balance, beginning of period

  $ 50,205   $ 8,697   $ 23,308   $   $ 2,768   $ 335   $ 85,313   $ 31,275   $ 116,588  

Charge-offs

    (4,773 )       (2,223 )       (233 )       (7,229 )   (3,467 )   (10,696 )

Recoveries

    372     24     1,014         47     20     1,477         1,477  

Provision (negative provision)

    (3,568 )   (3,225 )   (120 )   498     (847 )   (238 )   (7,500 )   3,655     (3,845 )
                                       

Balance, end of period

  $ 42,236   $ 5,496   $ 21,979   $ 498   $ 1,735   $ 117   $ 72,061   $ 31,463   $ 103,524  
                                       

Amount of the allowance applicable to loans and leases:

                                                       

Individually evaluated for impairment

  $ 6,221   $ 1,197   $ 6,363   $   $ 255   $   $ 14,036              
                                           

Collectively evaluated for impairment

  $ 36,015   $ 4,299   $ 15,616   $ 498   $ 1,480   $ 117   $ 58,025              
                                           

Acquired with deteriorated credit quality

                                            $ 31,463        
                                                       

Loans and Leases:

                                                       

Ending balance

  $ 1,850,162   $ 129,107   $ 707,566   $ 153,793   $ 17,689   $ 17,017   $ 2,875,334   $ 611,967   $ 3,487,301  
                                       

The ending balance of the loan and lease portfolio is composed of loans and leases:

                                                       

Individually evaluated for impairment

  $ 103,252   $ 32,607   $ 23,111   $ 244   $ 495   $   $ 159,709              
                                           

Collectively evaluated for impairment

  $ 1,746,910   $ 96,500   $ 684,455   $ 153,549   $ 17,194   $ 17,017   $ 2,715,625              
                                           

Acquired with deteriorated credit quality

                                            $ 611,967        
                                                       
Composition of loan portfolio  
Schedule of composition of loans and leases by portfolio segment

 

 

 
  June 30, 2013   December 31, 2012  
 
  Non-PCI
Loans
and Leases
  PCI
Loans
  Total   Non-PCI
Loans
and Leases
  PCI
Loans
  Total  
 
  (In thousands)
 

Non-Covered Loans and Leases

                                     

Real estate mortgage

  $ 2,477,066   $ 18,298   $ 2,495,364   $ 1,917,670   $   $ 1,917,670  

Real estate construction

    185,888     1,305     187,193     129,959         129,959  

Commercial

    898,973         898,973     787,775         787,775  

Leases

    216,089         216,089     174,373         174,373  

Consumer

    25,487     36     25,523     22,487         22,487  

Foreign

    16,073         16,073     17,241         17,241  
                           

Total gross non-covered loans and leases

  $ 3,819,576   $ 19,639   $ 3,839,215   $ 3,049,505   $   $ 3,049,505  
                           

Covered Loans

                                     

Real estate mortgage

  $ 81,124   $ 456,114   $ 537,238   $ 20,843   $ 484,057   $ 504,900  

Real estate construction

    11,888     14,654     26,542         24,645     24,645  

Commercial

    10,536     3,560     14,096     4,113     9,071     13,184  

Consumer

    3,106     422     3,528     486     112     598  
                           

Total gross covered loans

  $ 106,654   $ 474,750   $ 581,404   $ 25,442   $ 517,885   $ 543,327  
                           

Total Loans and Leases

                                     

Real estate mortgage

  $ 2,558,190   $ 474,412   $ 3,032,602   $ 1,938,513   $ 484,057   $ 2,422,570  

Real estate construction

    197,776     15,959     213,735     129,959     24,645     154,604  

Commercial

    909,509     3,560     913,069     791,888     9,071     800,959  

Leases

    216,089         216,089     174,373         174,373  

Consumer

    28,593     458     29,051     22,973     112     23,085  

Foreign

    16,073         16,073     17,241         17,241  
                           

Total gross loans and leases

  $ 3,926,230   $ 494,389   $ 4,420,619   $ 3,074,947   $ 517,885   $ 3,592,832  
                           
Schedule of aging analysis of Non-PCI loans and leases by portfolio segment and class

 

 

 
  June 30, 2013  
 
  30 - 59 Days
Past Due
  60 - 89 Days
Past Due
  Greater
Than
90 Days
Past Due
  Total
Past Due
  Current   Total  
 
  (In thousands)
 

Real estate mortgage:

                                     

Hospitality

  $   $   $   $   $ 192,413   $ 192,413  

SBA 504

        929     1,836     2,765     52,826     55,591  

Other

    1,793     2,717     12,296     16,806     2,293,380     2,310,186  
                           

Total real estate mortgage

    1,793     3,646     14,132     19,571     2,538,619     2,558,190  
                           

Real estate construction:

                                     

Residential

                    57,936     57,936  

Commercial

        555         555     139,285     139,840  
                           

Total real estate construction

        555         555     197,221     197,776  
                           

Commercial:

                                     

Collateralized

    1,277     422     6,877     8,576     516,464     525,040  

Unsecured

    131     975     1,390     2,496     99,250     101,746  

Asset-based

                    254,081     254,081  

SBA 7(a)

    200     604     510     1,314     27,328     28,642  
                           

Total commercial

    1,608     2,001     8,777     12,386     897,123     909,509  
                           

Leases

            244     244     215,845     216,089  

Consumer

    104             104     28,489     28,593  

Foreign

                    16,073     16,073  
                           

Total Non-PCI loans and leases

  $ 3,505   $ 6,202   $ 23,153   $ 32,860   $ 3,893,370   $ 3,926,230  
                           
Schedule of nonaccrual and performing Non-PCI loans and leases by portfolio segment and class

 

 

 
  December 31, 2012  
 
  30 - 59 Days
Past Due
  60 - 89 Days
Past Due
  Greater
Than
90 Days
Past Due
  Total
Past Due
  Current   Total  
 
  (In thousands)
 

Real estate mortgage:

                                     

Hospitality

  $   $   $   $   $ 181,144   $ 181,144  

SBA 504

    955         1,727     2,682     51,476     54,158  

Other

    4,098     54     3,271     7,423     1,695,788     1,703,211  
                           

Total real estate mortgage

    5,053     54     4,998     10,105     1,928,408     1,938,513  
                           

Real estate construction:

                                     

Residential

                    48,629     48,629  

Commercial

            1,245     1,245     80,085     81,330  
                           

Total real estate construction

            1,245     1,245     128,714     129,959  
                           

Commercial:

                                     

Collateralized

    964     161     872     1,997     455,098     457,095  

Unsecured

    3     135     230     368     69,670     70,038  

Asset-based

            176     176     239,254     239,430  

SBA 7(a)

    281     547     1,271     2,099     23,226     25,325  
                           

Total commercial

    1,248     843     2,549     4,640     787,248     791,888  
                           

Leases

    225     132     244     601     173,772     174,373  

Consumer

    23     1         24     22,949     22,973  

Foreign

                    17,241     17,241  
                           

Total Non-PCI loans and leases

  $ 6,549   $ 1,030   $ 9,036   $ 16,615   $ 3,058,332   $ 3,074,947  
                           

        Nonaccrual loans totaled $41.8 million at December 31, 2012, including $4.2 million of loans 30 to 89 days past due and $28.6 million of current loans.

        The following table presents our nonaccrual and performing Non-PCI loans and leases by portfolio segment and class as of the dates indicated:

 
  June 30, 2013   December 31, 2012  
 
  Nonaccrual   Performing   Total   Nonaccrual   Performing   Total  
 
  (In thousands)
 

Real estate mortgage:

                                     

Hospitality

  $   $ 192,413   $ 192,413   $ 6,908   $ 174,236   $ 181,144  

SBA 504

    3,007     52,584     55,591     2,982     51,176     54,158  

Other

    26,093     2,284,093     2,310,186     16,585     1,686,626     1,703,211  
                           

Total real estate mortgage

    29,100     2,529,090     2,558,190     26,475     1,912,038     1,938,513  
                           

Real estate construction:

                                     

Residential

    834     57,102     57,936     1,057     47,572     48,629  

Commercial

    2,938     136,902     139,840     2,715     78,615     81,330  
                           

Total real estate construction

    3,772     194,004     197,776     3,772     126,187     129,959  
                           

Commercial:

                                     

Collateralized

    13,441     511,599     525,040     4,462     452,633     457,095  

Unsecured

    1,583     100,163     101,746     2,027     68,011     70,038  

Asset-based

        254,081     254,081     176     239,254     239,430  

SBA 7(a)

    3,052     25,590     28,642     4,181     21,144     25,325  
                           

Total commercial

    18,076     891,433     909,509     10,846     781,042     791,888  
                           

Leases

    244     215,845     216,089     244     174,129     174,373  

Consumer

    497     28,096     28,593     425     22,548     22,973  

Foreign

        16,073     16,073         17,241     17,241  
                           

Total Non-PCI loans and leases

  $ 51,689   $ 3,874,541   $ 3,926,230   $ 41,762   $ 3,033,185   $ 3,074,947  
                           
Schedule of composition of impaired loans and leases

 

 

 
  June 30, 2013   December 31, 2012  
 
  Nonaccrual
Loans/Leases
  Performing
Restructured
Loans
  Total
Impaired
Loans/Leases
  Nonaccrual
Loans/Leases
  Performing
Restructured
Loans
  Total
Impaired
Loans/Leases
 
 
  (In thousands)
 

Real estate mortgage

  $ 29,100   $ 67,193   $ 96,293   $ 26,475   $ 80,723   $ 107,198  

Real estate construction

    3,772     11,194     14,966     3,772     21,678     25,450  

Commercial

    18,076     4,955     23,031     10,846     3,684     14,530  

Leases

    244         244     244         244  

Consumer

    497     201     698     425     203     628  
                           

Total

  $ 51,689   $ 83,543   $ 135,232   $ 41,762   $ 106,288   $ 148,050  
                           
Schedule of information regarding impaired loans and leases (excluding PCI loans) by portfolio segment and class

 

 

 
  June 30, 2013   December 31, 2012  
 
  Recorded
Investment
  Unpaid
Principal
Balance
  Related
Allowance
  Recorded
Investment
  Unpaid
Principal
Balance
  Related
Allowance
 
 
  (In thousands)
 

With An Allowance Recorded:

                                     

Real estate mortgage:

                                     

Hospitality

  $ 8,779   $ 9,621   $ 378   $ 8,954   $ 9,640   $ 2,396  

SBA 504

    1,659     1,659     234     1,676     1,676     324  

Other

    51,327     51,908     2,936     58,364     60,262     5,107  

Real estate construction:

                                     

Residential

    393     393     54     1,303     1,330     165  

Commercial

    8,540     8,540     8     6,723     6,723     206  

Commercial:

                                     

Collateralized

    4,648     4,892     4,697     2,477     2,731     1,865  

Unsecured

    2,062     3,334     1,719     2,396     3,121     2,234  

Asset-based

    2,032     2,032     604              

SBA 7(a)

    1,094     1,097     250     2,871     3,616     426  

Consumer

    436     476     240     466     506     265  

With No Related Allowance Recorded:

                                     

Real estate mortgage:

                                     

SBA 504

  $ 3,007   $ 3,848   $   $ 2,982   $ 3,755   $  

Other

    31,521     46,887         35,222     39,503      

Real estate construction:

                                     

Residential

    441     474                  

Commercial

    5,592     9,948         17,424     21,085      

Commercial:

                                     

Collateralized

    9,724     17,147         3,657     4,994      

Unsecured

    259     357         156     163      

Asset-based

                176     176      

SBA 7(a)

    3,212     4,968         2,797     4,057      

Leases

    244     244         244     244      

Consumer

    262     372         162     233      

Total Non-PCI Loans and Leases With and Without An Allowance Recorded:

                                     

Real estate mortgage

  $ 96,293   $ 113,923   $ 3,548   $ 107,198   $ 114,836   $ 7,827  

Real estate construction

    14,966     19,355     62     25,450     29,138     371  

Commercial

    23,031     33,827     7,270     14,530     18,858     4,525  

Leases

    244     244         244     244      

Consumer

    698     848     240     628     739     265  
                           

Total

  $ 135,232   $ 168,197   $ 11,120   $ 148,050   $ 163,815   $ 12,988  
                           

 

 
  Three Months Ended June 30,  
 
  2013   2012  
 
  Weighted
Average
Recorded
Investment(1)
  Interest
Income
Recognized
  Weighted
Average
Recorded
Investment(1)
  Interest
Income
Recognized
 
 
  (In thousands)
 

With An Allowance Recorded:

                         

Real estate mortgage:

                         

Hospitality

  $ 8,779   $ 226   $ 9,144   $ 21  

SBA 504

    1,659     23     563     7  

Other

    51,327     513     54,310     536  

Real estate construction:

                         

Residential

    393         1,289     3  

Commercial

    8,540     87     13,528     98  

Commercial:

                         

Collateralized

    3,804     10     4,101     15  

Unsecured

    2,062     8     2,348     4  

Asset-based

    223     5          

SBA 7(a)

    1,094     12     2,666     39  

Consumer

    436     3     276      

With No Related Allowance Recorded:

                         

Real estate mortgage:

                         

Hospitality

  $   $   $ 6,200   $  

SBA 504

    2,935         1,873      

Other

    25,041     133     30,358     32  

Real estate construction:

                         

Residential

    441         778     17  

Commercial

    4,568     (59 )   16,187     139  

Commercial:

                         

Collateralized

    4,266         7,199     7  

Unsecured

    179         640      

Asset-based

            174      

SBA 7(a)

    2,872     5     5,686     27  

Leases

    244         244      

Consumer

    173         219      

Total Non-PCI Loans and Leases With and Without An Allowance Recorded:

                         

Real estate mortgage

  $ 89,741   $ 895   $ 102,448   $ 596  

Real estate construction

    13,942     28     31,782     257  

Commercial

    14,500     40     22,814     92  

Leases

    244         244      

Consumer

    609     3     495      
                   

Total

  $ 119,036   $ 966   $ 157,783   $ 945  
                   

(1)
For the loans and leases (excluding PCI loans) reported as impaired at June 30, 2013 and June 30, 2012, amounts were calculated based on the period of time such loans and leases were impaired during the reporting period.

 
  Six Months Ended June 30,  
 
  2013   2012  
 
  Weighted
Average
Recorded
Investment(1)
  Interest
Income
Recognized
  Weighted
Average
Recorded
Investment(1)
  Interest
Income
Recognized
 
 
  (In thousands)
 

With An Allowance Recorded:

                         

Real estate mortgage:

                         

Hospitality

  $ 8,779   $ 247   $ 9,144   $ 36  

SBA 504

    1,659     45     352     5  

Other

    50,276     1,010     52,640     1,062  

Real estate construction:

                         

Residential

    393         1,289     5  

Commercial

    8,540     179     13,528     205  

Commercial:

                         

Collateralized

    2,795     18     3,804     28  

Unsecured

    2,062     17     2,341     10  

Asset-based

    112     5          

SBA 7(a)

    1,094     23     2,652     60  

Consumer

    436     5     276      

With No Related Allowance Recorded:

                         

Real estate mortgage:

                         

Hospitality

  $   $   $ 6,200   $  

SBA 504

    2,911         1,873      

Other

    20,777     190     29,861     646  

Real estate construction:

                         

Residential

    441         778     33  

Commercial

    4,317     (29 )   15,878     257  

Commercial:

                         

Collateralized

    2,773         7,097     13  

Unsecured

    160         640      

Asset-based

            87      

SBA 7(a)

    2,782     11     5,670     30  

Leases

    244         203      

Consumer

    163         219      

Total Non-PCI Loans and Leases With and Without An Allowance Recorded:

                         

Real estate mortgage

  $ 84,402   $ 1,492   $ 100,070   $ 1,749  

Real estate construction

    13,691     150     31,473     500  

Commercial

    11,778     74     22,291     141  

Leases

    244         203      

Consumer

    599     5     495      
                   

Total

  $ 110,714   $ 1,721   $ 154,532   $ 2,390  
                   

(1)
For the loans and leases (excluding PCI loans) reported as impaired at June 30, 2013 and June 30, 2012, amounts were calculated based on the period of time such loans and leases were impaired during the reporting period.
Schedule of new troubled debt restructurings and defaulted troubled debt restructurings (excluding PCI loans)

 

 

 
  Three Months Ended June 30,  
 
  2013   2012  
 
  Number
of
Loans
  Pre-
Modification
Outstanding
Recorded
Investment
  Post-
Modification
Outstanding
Recorded
Investment
  Number
of
Loans
  Pre-
Modification
Outstanding
Recorded
Investment
  Post-
Modification
Outstanding
Recorded
Investment
 
 
  (Dollars in thousands)
 

Troubled Debt Restructurings:

                                     

Real estate construction:

                                     

Commercial

      $   $     1   $ 1,446   $ 1,446  

Commercial:

                                     

Collateralized

    3     3,518     3,518     3     568     568  

Unsecured

    2     398     398     2     23     23  

Asset-based

    1     2,032     2,032              

SBA 7(a)

    4     137     137     1     120     120  

Consumer

    1     14     14              
                           

Total

    11   $ 6,099   $ 6,099     7   $ 2,157   $ 2,157  
                           

 

 
  Six Months Ended June 30,  
 
  2013   2012  
 
  Number
of
Loans
  Pre-
Modification
Outstanding
Recorded
Investment
  Post-
Modification
Outstanding
Recorded
Investment
  Number
of
Loans
  Pre-
Modification
Outstanding
Recorded
Investment
  Post-
Modification
Outstanding
Recorded
Investment
 
 
  (Dollars in thousands)
 

Troubled Debt Restructurings:

                                     

Real estate mortgage:

                                     

SBA 504

      $   $     1   $ 563   $ 563  

Other

    5     13,223     13,223              

Real estate construction:

                                     

Commercial

                1     1,446     1,446  

Commercial:

                                     

Collateralized

    4     3,913     3,913     5     1,174     1,174  

Unsecured

    2     398     398     3     38     38  

Asset-based

    1     2,032     2,032              

SBA 7(a)

    4     137     137     2     229     229  

Consumer

    1     14     14              
                           

Total

    17   $ 19,717   $ 19,717     12   $ 3,450   $ 3,450  
                           

 

 
  Three Months Ended June 30,  
 
  2013   2012  
 
  Number
of
Loans
  Recorded
Investment(1)
  Number
of
Loans
  Recorded
Investment(2)
 
 
  (Dollars in thousands)
 

Troubled Debt Restructurings That Subsequently Defaulted(3):

                         

Real estate mortgage:

                         

Hospitality

      $     1   $ 6,200  

Other

    1     1,350          

Commercial:

                         

Collateralized

    3     788     7     828  

Unsecured

            2     99  

SBA 7(a)

            3     1,987  
                   

Total

    4   $ 2,138     13   $ 9,114  
                   

(1)
Represents the balance at June 30, 2013 and is net of charge-offs of $1.1 million.

(2)
Represents the balance at June 30, 2012 and is net of charge-offs of $531,000.

(3)
The population of defaulted restructured loans for the period indicated includes only those loans restructured during the preceding 12-month period. The table excludes defaulted troubled debt restructurings in those classes for which the recorded investment was zero at the end of the period.

 
  Six Months Ended June 30,  
 
  2013   2012  
 
  Number
of
Loans
  Recorded
Investment(1)
  Number
of
Loans
  Recorded
Investment(2)
 
 
  (Dollars in thousands)
 

Troubled Debt Restructurings That Subsequently Defaulted(3):

                         

Real estate mortgage:

                         

Hospitality

      $     1   $ 6,200  

Other

    2     2,556     1     1,725  

Commercial:

                         

Collateralized

    3     788     7     828  

Unsecured

            2     99  

SBA 7(a)

            4     2,021  
                   

Total

    5   $ 3,344     15   $ 10,873  
                   

(1)
Represents the balance at June 30, 2013 and is net of charge-offs of $1.1 million.

(2)
Represents the balance at June 30, 2012 and is net of charge-offs of $855,000.

(3)
The population of defaulted restructured loans for the period indicated includes only those loans restructured during the preceding 12-month period. The table excludes defaulted troubled debt restructurings in those classes for which the recorded investment was zero at the end of the period.
Schedule of accretable yield on the purchased credit impaired loans acquired in the FCAL acquisition and accounted for as acquired impaired loans

 

 

 
  May 31, 2013  
 
  Accretable Yield  
 
  Covered
PCI Loans
  Non-Covered
PCI Loans
  Total  
 
  (In thousands)
 

Undiscounted contractual cash flows

  $ 42,881   $ 41,936   $ 84,817  

Undiscounted cash flows not expected to be collected (nonaccretable difference)

    (16,050 )   (16,337 )   (32,387 )
               

Undiscounted cash flows expected to be collected

    26,831     25,599     52,430  

Estimated fair value of loans acquired

    (24,341 )   (19,805 )   (44,146 )

Acquired accrued interest receivable

    (66 )   (122 )   (188 )
               

Accretable yield

  $ 2,424   $ 5,672   $ 8,096  
               
Schedule of changes in the carrying amount of PCI loans and accretable yield on those loans

 

 

 
  Purchased Credit
Impaired Loans
 
 
  Carrying
Amount
  Accretable
Yield
 
 
  (In thousands)
 

Covered PCI Loans:

             

Balance, December 31, 2012

  $ 491,816   $ (196,022 )

Addition from the FCAL acquisition

    24,341     (2,424 )

Accretion

    20,297     20,297  

Payments received

    (87,806 )    

Decrease in expected cash flows, net

        9,174  

Provision for credit losses

    (1,295 )    
           

Balance, June 30, 2013

  $ 447,353   $ (168,975 )
           

Non-Covered PCI Loans:

             

Balance, December 31, 2012

  $   $  

Addition from the FCAL acquisition

    19,805     (5,672 )

Accretion

    99     99  

Payments received

    (265 )    
           

Balance, June 30, 2013

  $ 19,639   $ (5,573 )
           
Non-PCI Loans
 
Composition of loan portfolio  
Schedule of composition of loans and leases by portfolio segment

 

 

 
  June 30, 2013   December 31, 2012  
 
  Amount   % of
Total
  Amount   % of
Total
 
 
  (Dollars in thousands)
 

Real estate mortgage

  $ 2,558,190     65 % $ 1,938,513     63 %

Real estate construction

    197,776     5     129,959     4  

Commercial

    909,509     23     791,888     25  

Leases

    216,089     6     174,373     6  

Consumer

    28,593     1     22,973     1  

Foreign

    16,073         17,241     1  
                   

Total gross Non-PCI loans and leases

    3,926,230     100 %   3,074,947     100 %
                       

Less:

                         

Unearned income

    (933 )         (2,535 )      

Allowance for loan and lease losses

    (63,246 )         (65,899 )      
                       

Total net Non-PCI loans and leases

  $ 3,862,051         $ 3,006,513        
                       
Schedule of credit risk rating categories for Non-PCI loans and leases by portfolio segment and class

 

 

 
  June 30, 2013   December 31, 2012  
 
  Nonclassified   Classified   Total   Nonclassified   Classified   Total  
 
  (In thousands)
 

Real estate mortgage:

                                     

Hospitality

  $ 186,728   $ 5,685   $ 192,413   $ 168,489   $ 12,655   $ 181,144  

SBA 504

    49,826     5,765     55,591     48,372     5,786     54,158  

Other

    2,244,304     65,882     2,310,186     1,653,446     49,765     1,703,211  
                           

Total real estate mortgage

    2,480,858     77,332     2,558,190     1,870,307     68,206     1,938,513  
                           

Real estate construction:

                                     

Residential

    56,161     1,775     57,936     46,591     2,038     48,629  

Commercial

    131,417     8,423     139,840     77,503     3,827     81,330  
                           

Total real estate construction

    187,578     10,198     197,776     124,094     5,865     129,959  
                           

Commercial:

                                     

Collateralized

    499,198     25,842     525,040     442,293     14,802     457,095  

Unsecured

    98,856     2,890     101,746     67,133     2,905     70,038  

Asset-based

    249,834     4,247     254,081     235,075     4,355     239,430  

SBA 7(a)

    22,666     5,976     28,642     18,888     6,437     25,325  
                           

Total commercial

    870,554     38,955     909,509     763,389     28,499     791,888  
                           

Leases

    215,845     244     216,089     174,129     244     174,373  

Consumer

    27,141     1,452     28,593     21,733     1,240     22,973  

Foreign

    16,073         16,073     17,241         17,241  
                           

Total Non-PCI loans and leases

  $ 3,798,049   $ 128,181   $ 3,926,230   $ 2,970,893   $ 104,054   $ 3,074,947  
                           
PCI Loans
 
Composition of loan portfolio  
Schedule of composition of loans and leases by portfolio segment

 

 

 
  June 30, 2013   December 31, 2012  
 
  Amount   % of
Total
  Amount   % of
Total
 
 
  (Dollars in thousands)
 

Real estate mortgage

  $ 474,412     96 % $ 484,057     93 %

Real estate construction

    15,959     3     24,645     5  

Commercial

    3,560     1     9,071     2  

Consumer

    458         112      
                   

Total gross PCI loans

    494,389     100 %   517,885     100 %
                       

Less:

                         

Allowance for loan losses

    (27,397 )         (26,069 )      
                       

Total net PCI loans

  $ 466,992         $ 491,816        
                       
Schedule of credit risk rating categories for Non-PCI loans and leases by portfolio segment and class

 

 

 
  June 30, 2013   December 31, 2012  
 
  Nonclassified   Classified   Total   Nonclassified   Classified   Total  
 
  (In thousands)
 

Real estate mortgage

  $ 288,344   $ 186,068   $ 474,412   $ 331,341   $ 152,716   $ 484,057  

Real estate construction

    4,938     11,021     15,959     6,311     18,334     24,645  

Commercial

    919     2,641     3,560     3,420     5,651     9,071  

Consumer

        458     458         112     112  
                           

Total PCI loans

  $ 294,201   $ 200,188   $ 494,389   $ 341,072   $ 176,813   $ 517,885