INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2013

INCOME TAXES

Schedule of the components of income tax expense

	Year Ended December 31,
	2013			2012			2011
	(In thousands)
Current Income Tax (Expense) Benefit:
Federal	$	(29,591	)	$	(24,177	)	$	(15,129	)
State		(7,667	)		(1,825	)		(9,562	)
Total current income tax expense		(37,258	)		(26,002	)		(24,691	)
Deferred Income Tax (Expense) Benefit:
Federal		9,099			(2,550	)		(11,726	)
State		(1,586	)		(8,143	)		(383	)
Total deferred income tax benefit (expense)		7,513			(10,693	)		(12,109	)
Total income tax expense	$	(29,745	)	$	(36,695	)	$	(36,800	)

Schedule of reconciliation of the recorded income tax expense to the amount of taxes computed by applying the applicable federal statutory income tax rate to earnings or loss before income taxes

	Year Ended December 31,
	2013			2012			2011
	(In thousands)
Computed expected income tax expense at federal statutory rate	$	(26,201	)	$	(32,724	)	$	(30,626	)
State tax expense, net of federal tax benefit		(6,014	)		(6,479	)		(6,464	)
Tax-exempt interest benefit		3,979			1,847			406
Increase in cash surrender value of life insurance		407			442			504
Tax credits		2,480			1,313			556
Nondeductible employee compensation		(4,730	)		(322	)		(572	)
Nondeductible acquisition-related expense		(1,196	)		(532	)		—
Acquisition-related securities gain		1,828			—			—
Other, net		(298	)		(240	)		(604	)
Recorded income tax expense	$	(29,745	)	$	(36,695	)	$	(36,800	)

Schedule of the tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities

	December 31,
	2013		2012
	(In thousands)
Deferred Tax Assets:
Book allowance for loan losses in excess of tax specific charge-offs	$	45,840	$	31,602
Interest on nonaccrual loans		444		473
Deferred compensation		4,541		3,727
Premises and equipment, principally due to differences in depreciation		3,643		2,457
OREO valuation allowance		9,784		7,398
Assets acquired in FDIC-assisted acquisition		16,375		19,170
State tax benefit		2,368		247
Accrued liabilities		16,629		10,126
Other		7,846		10,934
Goodwill		6,595		3,846
Deferred loan fees and costs		378		—
Unrealized loss on securities available-for-sale		2,424		—
Gross deferred tax assets		116,867		89,980
Deferred Tax Liabilities:
Core deposit and customer relationship intangibles		6,022		5,004
Deferred loan fees and costs		—		296
Unrealized gain on securities available-for-sale		—		23,824
FHLB stock and dividends		7,123		7,557
Unrealized income from FDIC-assisted acquisition		24,086		23,614
Gross deferred tax liabilities		37,231		60,295
Total net deferred tax asset	$	79,636	$	29,685