Loan and Lease Finance Receivables and Allowance for Credit Losses (Tables)
|
3 Months Ended |
Mar. 31, 2013
|
Receivables [Abstract] |
|
Summary of Components of Loan and Lease Finance Receivables |
The following
tables provide a summary of the components of loan and lease
finance receivables:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
2013 |
|
|
|
Non-Covered
Loans |
|
|
Covered
Loans |
|
|
Total |
|
|
|
(Dollars in
thousands) |
|
Commercial and
industrial
|
|
$ |
532,941 |
|
|
$ |
25,314 |
|
|
$ |
558,255 |
|
Real estate:
|
|
|
— |
|
|
|
|
|
|
|
|
|
Construction
|
|
|
55,703 |
|
|
|
1,061 |
|
|
|
56,764 |
|
Commercial real
estate
|
|
|
1,996,198 |
|
|
|
160,069 |
|
|
|
2,156,267 |
|
SFR mortgage
|
|
|
162,022 |
|
|
|
1,321 |
|
|
|
163,343 |
|
Consumer
|
|
|
44,116 |
|
|
|
5,967 |
|
|
|
50,083 |
|
Municipal lease finance
receivables
|
|
|
109,727 |
|
|
|
— |
|
|
|
109,727 |
|
Auto and equipment leases,
net of unearned discount
|
|
|
12,422 |
|
|
|
— |
|
|
|
12,422 |
|
Dairy and
livestock
|
|
|
278,502 |
|
|
|
— |
|
|
|
278,502 |
|
Agribusiness
|
|
|
5,370 |
|
|
|
5,870 |
|
|
|
11,240 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross loans
|
|
|
3,197,001 |
|
|
|
199,602 |
|
|
|
3,396,603 |
|
Less:
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase accounting
discount
|
|
|
— |
|
|
|
(20,908 |
) |
|
|
(20,908 |
) |
Deferred loan fees,
net
|
|
|
(7,487 |
) |
|
|
— |
|
|
|
(7,487 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross loans, net of
deferred loan fees and discount
|
|
|
3,189,514 |
|
|
|
178,694 |
|
|
|
3,368,208 |
|
Less: Allowance for credit
losses
|
|
|
(92,218 |
) |
|
|
— |
|
|
|
(92,218 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loans
|
|
$ |
3,097,296 |
|
|
$ |
178,694 |
|
|
$ |
3,275,990 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2012 |
|
|
|
Non-Covered
Loans |
|
|
Covered
Loans |
|
|
Total |
|
|
|
(Dollars in
thousands) |
|
Commercial and
industrial
|
|
$ |
547,422 |
|
|
$ |
26,149 |
|
|
$ |
573,571 |
|
Real estate:
|
|
|
— |
|
|
|
|
|
|
|
|
|
Construction
|
|
|
59,721 |
|
|
|
1,579 |
|
|
|
61,300 |
|
Commercial real
estate
|
|
|
1,990,107 |
|
|
|
179,428 |
|
|
|
2,169,535 |
|
SFR mortgage
|
|
|
159,288 |
|
|
|
1,415 |
|
|
|
160,703 |
|
Consumer
|
|
|
47,557 |
|
|
|
6,337 |
|
|
|
53,894 |
|
Municipal lease finance
receivables
|
|
|
105,767 |
|
|
|
— |
|
|
|
105,767 |
|
Auto and equipment leases,
net of unearned discount
|
|
|
12,716 |
|
|
|
— |
|
|
|
12,716 |
|
Dairy and
livestock
|
|
|
327,579 |
|
|
|
— |
|
|
|
327,579 |
|
Agribusiness
|
|
|
9,081 |
|
|
|
5,651 |
|
|
|
14,732 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross loans
|
|
|
3,259,238 |
|
|
|
220,559 |
|
|
|
3,479,797 |
|
Less:
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase accounting
discount
|
|
|
— |
|
|
|
(25,344 |
) |
|
|
(25,344 |
) |
Deferred loan fees,
net
|
|
|
(6,925 |
) |
|
|
— |
|
|
|
(6,925 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross loans, net of
deferred loan fees and discount
|
|
|
3,252,313 |
|
|
|
195,215 |
|
|
|
3,447,528 |
|
Less: Allowance for credit
losses
|
|
|
(92,441 |
) |
|
|
— |
|
|
|
(92,441 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loans
|
|
$ |
3,159,872 |
|
|
$ |
195,215 |
|
|
$ |
3,355,087 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Summary of Internal Risk Grouping by Loan Class |
The following
table summarizes our internal risk grouping by loan class as of
March 31, 2013 and December 31, 2012:
Credit
Quality Indicators
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
2013 |
|
|
|
Pass |
|
|
Watch
List |
|
|
Special
Mention |
|
|
Substandard |
|
|
Doubtful &
Loss |
|
|
Total |
|
|
|
(Dollars in
thousands) |
|
Commercial &
industrial
|
|
$ |
338,974 |
|
|
$ |
119,560 |
|
|
$ |
48,081 |
|
|
$ |
24,931 |
|
|
$ |
1,395 |
|
|
$ |
532,941 |
|
Construction -
speculative
|
|
|
3,756 |
|
|
|
— |
|
|
|
13,599 |
|
|
|
18,272 |
|
|
|
— |
|
|
|
35,627 |
|
Construction -
non-speculative
|
|
|
6,540 |
|
|
|
4,317 |
|
|
|
— |
|
|
|
9,219 |
|
|
|
— |
|
|
|
20,076 |
|
Commercial real estate -
owner occupied
|
|
|
374,300 |
|
|
|
142,436 |
|
|
|
88,461 |
|
|
|
85,950 |
|
|
|
— |
|
|
|
691,147 |
|
Commercial real estate -
non-owner occupied
|
|
|
926,150 |
|
|
|
215,660 |
|
|
|
94,016 |
|
|
|
69,225 |
|
|
|
— |
|
|
|
1,305,051 |
|
Residential real estate
(SFR 1-4)
|
|
|
131,708 |
|
|
|
11,158 |
|
|
|
4,273 |
|
|
|
14,883 |
|
|
|
— |
|
|
|
162,022 |
|
Dairy and
livestock
|
|
|
48,015 |
|
|
|
64,557 |
|
|
|
80,048 |
|
|
|
81,822 |
|
|
|
4,060 |
|
|
|
278,502 |
|
Agribusiness
|
|
|
3,630 |
|
|
|
1,050 |
|
|
|
690 |
|
|
|
— |
|
|
|
— |
|
|
|
5,370 |
|
Municipal lease finance
receivables
|
|
|
65,673 |
|
|
|
21,249 |
|
|
|
14,535 |
|
|
|
8,270 |
|
|
|
— |
|
|
|
109,727 |
|
Consumer
|
|
|
37,625 |
|
|
|
3,206 |
|
|
|
1,914 |
|
|
|
1,367 |
|
|
|
4 |
|
|
|
44,116 |
|
Auto and equipment
leases
|
|
|
8,527 |
|
|
|
2,983 |
|
|
|
776 |
|
|
|
136 |
|
|
|
— |
|
|
|
12,422 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-covered
loans
|
|
|
1,944,898 |
|
|
|
586,176 |
|
|
|
346,393 |
|
|
|
314,075 |
|
|
|
5,459 |
|
|
|
3,197,001 |
|
Covered loans
|
|
|
47,139 |
|
|
|
69,482 |
|
|
|
22,465 |
|
|
|
60,516 |
|
|
|
— |
|
|
|
199,602 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total gross
loans
|
|
$ |
1,992,037 |
|
|
$ |
655,658 |
|
|
$ |
368,858 |
|
|
$ |
374,591 |
|
|
$ |
5,459 |
|
|
$ |
3,396,603 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2012 |
|
|
|
Pass |
|
|
Watch
List |
|
|
Special
Mention |
|
|
Substandard |
|
|
Doubtful &
Loss |
|
|
Total |
|
|
|
(Dollars in
thousands) |
|
Commercial &
industrial
|
|
$ |
347,275 |
|
|
$ |
131,186 |
|
|
$ |
44,466 |
|
|
$ |
22,901 |
|
|
$ |
1,594 |
|
|
$ |
547,422 |
|
Construction -
speculative
|
|
|
1,417 |
|
|
|
— |
|
|
|
15,163 |
|
|
|
21,314 |
|
|
|
— |
|
|
|
37,894 |
|
Construction -
non-speculative
|
|
|
9,841 |
|
|
|
2,767 |
|
|
|
— |
|
|
|
9,219 |
|
|
|
— |
|
|
|
21,827 |
|
Commercial real estate -
owner occupied
|
|
|
382,111 |
|
|
|
159,653 |
|
|
|
78,087 |
|
|
|
84,116 |
|
|
|
— |
|
|
|
703,967 |
|
Commercial real estate -
non-owner occupied
|
|
|
888,777 |
|
|
|
214,901 |
|
|
|
105,121 |
|
|
|
77,341 |
|
|
|
— |
|
|
|
1,286,140 |
|
Residential real estate
(SFR 1-4)
|
|
|
129,730 |
|
|
|
10,215 |
|
|
|
3,107 |
|
|
|
16,236 |
|
|
|
— |
|
|
|
159,288 |
|
Dairy and
livestock
|
|
|
67,144 |
|
|
|
108,087 |
|
|
|
74,510 |
|
|
|
77,721 |
|
|
|
117 |
|
|
|
327,579 |
|
Agribusiness
|
|
|
4,969 |
|
|
|
3,306 |
|
|
|
806 |
|
|
|
— |
|
|
|
— |
|
|
|
9,081 |
|
Municipal lease finance
receivables
|
|
|
72,432 |
|
|
|
20,237 |
|
|
|
11,124 |
|
|
|
1,974 |
|
|
|
— |
|
|
|
105,767 |
|
Consumer
|
|
|
40,650 |
|
|
|
3,538 |
|
|
|
1,976 |
|
|
|
1,339 |
|
|
|
54 |
|
|
|
47,557 |
|
Auto and equipment
leases
|
|
|
8,671 |
|
|
|
3,225 |
|
|
|
738 |
|
|
|
82 |
|
|
|
— |
|
|
|
12,716 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-covered
loans
|
|
|
1,953,017 |
|
|
|
657,115 |
|
|
|
335,098 |
|
|
|
312,243 |
|
|
|
1,765 |
|
|
|
3,259,238 |
|
Covered loans
|
|
|
52,637 |
|
|
|
72,803 |
|
|
|
31,689 |
|
|
|
63,354 |
|
|
|
76 |
|
|
|
220,559 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total gross
loans
|
|
$ |
2,005,654 |
|
|
$ |
729,918 |
|
|
$ |
366,787 |
|
|
$ |
375,597 |
|
|
$ |
1,841 |
|
|
$ |
3,479,797 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Summary of Allowance for Credit Losses and Recorded Investment in Held-For-Investment Loans by Portfolio Segment |
The following
table presents the balance and activity in the allowance for credit
losses; and the recorded investment in held-for-investment loans by
portfolio segment and based upon our impairment method as of
March 31, 2013, and 2012:
Allowance
for Credit Losses and Recorded Investment in Financing
Receivables
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of and For the Three
Months Ended March 31, 2013 |
|
|
|
Commercial
and Industrial |
|
|
Construction |
|
|
Real
Estate |
|
|
Municipal
Lease
Finance
Receivables |
|
|
Dairy,
Livestock /
Agribusiness |
|
|
Consumer,
Auto &
Other |
|
|
Covered
Loans (1) |
|
|
Unallocated |
|
|
Total |
|
|
|
(Dollars in
thousands) |
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan
losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance,
January 1, 2013
|
|
$ |
11,652 |
|
|
$ |
2,291 |
|
|
$ |
50,905 |
|
|
$ |
1,588 |
|
|
$ |
18,696 |
|
|
$ |
1,170 |
|
|
$ |
— |
|
|
$ |
6,139 |
|
|
$ |
92,441 |
|
Charge-offs
|
|
|
(357 |
) |
|
|
— |
|
|
|
(142 |
) |
|
|
— |
|
|
|
— |
|
|
|
(47 |
) |
|
|
— |
|
|
|
— |
|
|
|
(546 |
) |
Recoveries
|
|
|
99 |
|
|
|
126 |
|
|
|
71 |
|
|
|
— |
|
|
|
14 |
|
|
|
13 |
|
|
|
— |
|
|
|
— |
|
|
|
323 |
|
Provision / reallocation of
ALLL
|
|
|
919 |
|
|
|
(293 |
) |
|
|
(503 |
) |
|
|
1,044 |
|
|
|
(2,139 |
) |
|
|
(3 |
) |
|
|
— |
|
|
|
975 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance,
March 31, 2013
|
|
$ |
12,313 |
|
|
$ |
2,124 |
|
|
$ |
50,331 |
|
|
$ |
2,632 |
|
|
$ |
16,571 |
|
|
$ |
1,133 |
|
|
$ |
— |
|
|
$ |
7,114 |
|
|
$ |
92,218 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually evaluated for
impairment
|
|
$ |
1,055 |
|
|
$ |
— |
|
|
$ |
429 |
|
|
$ |
— |
|
|
$ |
2,560 |
|
|
$ |
27 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
4,071 |
|
Collectively evaluated for
impairment
|
|
$ |
11,258 |
|
|
$ |
2,124 |
|
|
$ |
49,902 |
|
|
$ |
2,632 |
|
|
$ |
14,011 |
|
|
$ |
1,106 |
|
|
$ |
— |
|
|
$ |
7,114 |
|
|
$ |
88,147 |
|
|
|
|
|
|
|
|
|
|
|
Loans and financing
receivables (2):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance,
March 31, 2013
|
|
$ |
532,941 |
|
|
$ |
55,703 |
|
|
$ |
2,158,220 |
|
|
$ |
109,727 |
|
|
$ |
283,872 |
|
|
$ |
56,538 |
|
|
$ |
178,694 |
|
|
$ |
— |
|
|
$ |
3,375,695 |
|
Individually evaluated for
impairment
|
|
$ |
4,579 |
|
|
$ |
27,491 |
|
|
$ |
55,098 |
|
|
$ |
— |
|
|
$ |
25,327 |
|
|
$ |
226 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
112,721 |
|
Collectively evaluated for
impairment
|
|
$ |
528,362 |
|
|
$ |
28,212 |
|
|
$ |
2,103,122 |
|
|
$ |
109,727 |
|
|
$ |
258,545 |
|
|
$ |
56,312 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
3,084,280 |
|
Acquired loans with
deteriorated credit quality, net of discount
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
178,694 |
|
|
$ |
— |
|
|
$ |
178,694 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of and For the Three
Months Ended March 31, 2012 |
|
|
|
Commercial
and Industrial |
|
|
Construction |
|
|
Real
Estate |
|
|
Municipal
Lease
Finance
Receivables |
|
|
Dairy,
Livestock /
Agribusiness |
|
|
Consumer,
Auto &
Other |
|
|
Covered
Loans (1) |
|
|
Unallocated |
|
|
Total |
|
|
|
(Dollars in
thousands) |
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan
losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance,
January 1, 2012
|
|
$ |
10,654 |
|
|
$ |
4,947 |
|
|
$ |
51,873 |
|
|
$ |
2,403 |
|
|
$ |
17,278 |
|
|
$ |
1,590 |
|
|
$ |
— |
|
|
$ |
5,219 |
|
|
$ |
93,964 |
|
Charge-offs
|
|
|
(560 |
) |
|
|
— |
|
|
|
(530 |
) |
|
|
— |
|
|
|
(1,150 |
) |
|
|
(85 |
) |
|
|
(31 |
) |
|
|
— |
|
|
|
(2,356 |
) |
Recoveries
|
|
|
62 |
|
|
|
27 |
|
|
|
221 |
|
|
|
— |
|
|
|
— |
|
|
|
4 |
|
|
|
— |
|
|
|
— |
|
|
|
314 |
|
Provision / reallocation of
ALLL
|
|
|
1,751 |
|
|
|
(651 |
) |
|
|
371 |
|
|
|
(383 |
) |
|
|
(48 |
) |
|
|
(20 |
) |
|
|
31 |
|
|
|
(1,051 |
) |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance,
March 31, 2012
|
|
$ |
11,907 |
|
|
$ |
4,323 |
|
|
$ |
51,935 |
|
|
$ |
2,020 |
|
|
$ |
16,080 |
|
|
$ |
1,489 |
|
|
$ |
— |
|
|
$ |
4,168 |
|
|
$ |
91,922 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually evaluated for
impairment
|
|
$ |
421 |
|
|
$ |
— |
|
|
$ |
787 |
|
|
$ |
— |
|
|
$ |
221 |
|
|
$ |
81 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,510 |
|
Collectively evaluated for
impairment
|
|
$ |
11,486 |
|
|
$ |
4,323 |
|
|
$ |
51,148 |
|
|
$ |
2,020 |
|
|
$ |
15,859 |
|
|
$ |
1,408 |
|
|
$ |
— |
|
|
$ |
4,168 |
|
|
$ |
90,412 |
|
|
|
|
|
|
|
|
|
|
|
Loans and financing
receivables (2):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance,
March 31, 2012
|
|
$ |
497,625 |
|
|
$ |
67,382 |
|
|
$ |
2,153,345 |
|
|
$ |
114,724 |
|
|
$ |
290,578 |
|
|
$ |
67,862 |
|
|
$ |
241,943 |
|
|
$ |
— |
|
|
$ |
3,433,459 |
|
Individually evaluated for
impairment
|
|
$ |
7,820 |
|
|
$ |
29,354 |
|
|
$ |
51,153 |
|
|
$ |
— |
|
|
$ |
8,470 |
|
|
$ |
389 |
|
|
|
— |
|
|
$ |
— |
|
|
$ |
97,186 |
|
Collectively evaluated for
impairment
|
|
$ |
489,805 |
|
|
$ |
38,028 |
|
|
$ |
2,102,192 |
|
|
$ |
114,724 |
|
|
$ |
282,108 |
|
|
$ |
67,473 |
|
|
|
— |
|
|
$ |
— |
|
|
$ |
3,094,330 |
|
Acquired loans with
deteriorated credit quality, net of discount
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
241,943 |
|
|
$ |
— |
|
|
$ |
241,943 |
|
(1) |
Represents the allowance
and related loan balance in accordance with ASC 310-30. |
(2) |
Net of purchase accounting
discount. |
|
Schedule of Recorded Investment in Non-Covered Past Due and Nonaccrual Loans and Loans Past Due by Class of Loans |
The following
table presents the recorded investment in non-covered past due and
nonaccrual loans and loans past due by class of loans as of
March 31, 2013, and December 31, 2012:
Non-Covered
Past Due and Nonaccrual Loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
2013 |
|
|
|
30-59
Days Past
Due |
|
|
60-89
Days Past
Due |
|
|
90+ Days
Past Due
and
Accruing |
|
|
Total Past
Due and
Accruing |
|
|
Nonaccrual |
|
|
Current |
|
|
Total Loans
and
Financing
Receivables |
|
|
|
(Dollars in
thousands) |
|
Commercial and
industrial
|
|
$ |
1,893 |
|
|
$ |
133 |
|
|
$ |
— |
|
|
$ |
2,026 |
|
|
$ |
3,387 |
|
|
$ |
527,528 |
|
|
$ |
532,941 |
|
Construction -
speculative
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
10,620 |
|
|
|
25,007 |
|
|
|
35,627 |
|
Construction -
non-speculative
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
20,076 |
|
|
|
20,076 |
|
Commercial real estate -
owner occupied
|
|
|
945 |
|
|
|
— |
|
|
|
— |
|
|
|
945 |
|
|
|
1,658 |
|
|
|
688,544 |
|
|
|
691,147 |
|
Commercial real estate -
non-owner occupied
|
|
|
875 |
|
|
|
— |
|
|
|
— |
|
|
|
875 |
|
|
|
18,306 |
|
|
|
1,285,870 |
|
|
|
1,305,051 |
|
Residential real estate
(SFR 1-4)
|
|
|
824 |
|
|
|
— |
|
|
|
— |
|
|
|
824 |
|
|
|
11,561 |
|
|
|
149,637 |
|
|
|
162,022 |
|
Dairy and
livestock
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
9,371 |
|
|
|
269,131 |
|
|
|
278,502 |
|
Agribusiness
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
5,370 |
|
|
|
5,370 |
|
Municipal lease finance
receivables
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
109,727 |
|
|
|
109,727 |
|
Consumer
|
|
|
63 |
|
|
|
— |
|
|
|
— |
|
|
|
63 |
|
|
|
161 |
|
|
|
43,892 |
|
|
|
44,116 |
|
Auto and equipment
leases
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
65 |
|
|
|
12,357 |
|
|
|
12,422 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-covered gross
loans
|
|
$ |
4,600 |
|
|
$ |
133 |
|
|
$ |
— |
|
|
$ |
4,733 |
|
|
$ |
55,129 |
|
|
$ |
3,137,139 |
|
|
$ |
3,197,001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2012 |
|
|
|
30-59
Days Past
Due |
|
|
60-89
Days Past
Due |
|
|
90+ Days
Past Due
and
Accruing |
|
|
Total Past
Due and
Accruing |
|
|
Nonaccrual |
|
|
Current |
|
|
Total Loans
and
Financing
Receivables |
|
|
|
(Dollars in
thousands) |
|
Commercial and
industrial
|
|
$ |
233 |
|
|
$ |
457 |
|
|
$ |
— |
|
|
$ |
690 |
|
|
$ |
3,136 |
|
|
$ |
543,596 |
|
|
$ |
547,422 |
|
Construction -
speculative
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
10,663 |
|
|
|
27,231 |
|
|
|
37,894 |
|
Construction -
non-speculative
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
21,827 |
|
|
|
21,827 |
|
Commercial real estate -
owner occupied
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
5,415 |
|
|
|
698,552 |
|
|
|
703,967 |
|
Commercial real estate -
non-owner occupied
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
15,624 |
|
|
|
1,270,516 |
|
|
|
1,286,140 |
|
Residential real estate
(SFR 1-4)
|
|
|
107 |
|
|
|
— |
|
|
|
— |
|
|
|
107 |
|
|
|
13,102 |
|
|
|
146,079 |
|
|
|
159,288 |
|
Dairy and
livestock
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
9,842 |
|
|
|
317,737 |
|
|
|
327,579 |
|
Agribusiness
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
9,081 |
|
|
|
9,081 |
|
Municipal lease finance
receivables
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
105,767 |
|
|
|
105,767 |
|
Consumer
|
|
|
74 |
|
|
|
8 |
|
|
|
— |
|
|
|
82 |
|
|
|
215 |
|
|
|
47,260 |
|
|
|
47,557 |
|
Auto and equipment
leases
|
|
|
8 |
|
|
|
— |
|
|
|
— |
|
|
|
8 |
|
|
|
— |
|
|
|
12,708 |
|
|
|
12,716 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-covered gross
loans
|
|
$ |
422 |
|
|
$ |
465 |
|
|
$ |
— |
|
|
$ |
887 |
|
|
$ |
57,997 |
|
|
$ |
3,200,354 |
|
|
$ |
3,259,238 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule of Held-for-Investment and Held-for-Sale Loans, Individually Evaluated for Impairment by Class of Loans |
The following
table presents held-for-investment, individually evaluated for
impairment by class of loans, as of March 31, 2013 and
December 31, 2012:
Non-Covered
Impaired Loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
2013 |
|
|
|
Recorded
Investment |
|
|
Unpaid
Principal
Balance |
|
|
Related
Allowance |
|
|
Average
Recorded
Investment |
|
|
Interest
Income
Recognized |
|
|
|
(Dollars in
thousands) |
|
With no related
allowance recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and
industrial
|
|
$ |
2,873 |
|
|
$ |
3,617 |
|
|
$ |
— |
|
|
$ |
2,899 |
|
|
$ |
18 |
|
Construction -
speculative
|
|
|
18,272 |
|
|
|
18,607 |
|
|
|
— |
|
|
|
18,272 |
|
|
|
77 |
|
Construction -
non-speculative
|
|
|
9,219 |
|
|
|
9,219 |
|
|
|
— |
|
|
|
9,219 |
|
|
|
141 |
|
Commercial real estate -
owner occupied
|
|
|
13,616 |
|
|
|
14,827 |
|
|
|
— |
|
|
|
13,630 |
|
|
|
122 |
|
Commercial real estate -
non-owner occupied
|
|
|
27,877 |
|
|
|
38,306 |
|
|
|
— |
|
|
|
28,092 |
|
|
|
202 |
|
Residential real estate
(SFR 1-4)
|
|
|
10,184 |
|
|
|
12,821 |
|
|
|
— |
|
|
|
10,319 |
|
|
|
16 |
|
Dairy and
livestock
|
|
|
20,843 |
|
|
|
21,874 |
|
|
|
— |
|
|
|
19,170 |
|
|
|
98 |
|
Municipal lease finance
receivables
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Consumer
|
|
|
141 |
|
|
|
196 |
|
|
|
— |
|
|
|
141 |
|
|
|
— |
|
Auto and equipment
leases
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
103,025 |
|
|
|
119,467 |
|
|
|
— |
|
|
|
101,742 |
|
|
|
674 |
|
With a related allowance
recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and
industrial
|
|
|
1,706 |
|
|
|
1,871 |
|
|
|
1,055 |
|
|
|
1,723 |
|
|
|
— |
|
Construction -
speculative
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Construction -
non-speculative
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Commercial real estate -
owner occupied
|
|
|
12 |
|
|
|
14 |
|
|
|
1 |
|
|
|
16 |
|
|
|
— |
|
Commercial real estate -
non-owner occupied
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Residential real estate
(SFR 1-4)
|
|
|
3,409 |
|
|
|
4,040 |
|
|
|
428 |
|
|
|
3,415 |
|
|
|
— |
|
Dairy and
livestock
|
|
|
4,484 |
|
|
|
4,944 |
|
|
|
2,560 |
|
|
|
4,603 |
|
|
|
— |
|
Municipal lease finance
receivables
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Consumer
|
|
|
20 |
|
|
|
22 |
|
|
|
7 |
|
|
|
21 |
|
|
|
— |
|
Auto and equipment
leases
|
|
|
65 |
|
|
|
65 |
|
|
|
20 |
|
|
|
22 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
9,696 |
|
|
|
10,956 |
|
|
|
4,071 |
|
|
|
9,800 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-covered impaired
loans
|
|
$ |
112,721 |
|
|
$ |
130,423 |
|
|
$ |
4,071 |
|
|
$ |
111,542 |
|
|
$ |
674 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2012 |
|
|
|
Recorded
Investment |
|
|
Unpaid
Principal
Balance |
|
|
Related
Allowance |
|
|
Average
Recorded
Investment |
|
|
Interest
Income
Recognized |
|
|
|
(Dollars in
thousands) |
|
With no related
allowance recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and
industrial
|
|
$ |
3,385 |
|
|
$ |
4,215 |
|
|
$ |
— |
|
|
$ |
3,766 |
|
|
$ |
43 |
|
Construction -
speculative
|
|
|
21,314 |
|
|
|
21,607 |
|
|
|
— |
|
|
|
21,650 |
|
|
|
311 |
|
Construction -
non-speculative
|
|
|
9,219 |
|
|
|
9,219 |
|
|
|
— |
|
|
|
9,219 |
|
|
|
574 |
|
Commercial real estate -
owner occupied
|
|
|
13,478 |
|
|
|
14,569 |
|
|
|
— |
|
|
|
14,459 |
|
|
|
397 |
|
Commercial real estate -
non-owner occupied
|
|
|
28,639 |
|
|
|
38,633 |
|
|
|
— |
|
|
|
29,801 |
|
|
|
670 |
|
Residential real estate
(SFR 1-4)
|
|
|
11,079 |
|
|
|
14,342 |
|
|
|
— |
|
|
|
11,292 |
|
|
|
54 |
|
Dairy and
livestock
|
|
|
12,406 |
|
|
|
13,756 |
|
|
|
— |
|
|
|
11,834 |
|
|
|
173 |
|
Municipal lease finance
receivables
|
|
|
263 |
|
|
|
263 |
|
|
|
— |
|
|
|
443 |
|
|
|
5 |
|
Consumer
|
|
|
142 |
|
|
|
196 |
|
|
|
— |
|
|
|
145 |
|
|
|
— |
|
Auto and equipment
leases
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
99,925 |
|
|
|
116,800 |
|
|
|
— |
|
|
|
102,609 |
|
|
|
2,227 |
|
With a related allowance
recorded:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and
industrial
|
|
|
304 |
|
|
|
327 |
|
|
|
289 |
|
|
|
387 |
|
|
|
— |
|
Construction -
speculative
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Construction -
non-speculative
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Commercial real estate -
owner occupied
|
|
|
19 |
|
|
|
19 |
|
|
|
2 |
|
|
|
28 |
|
|
|
— |
|
Commercial real estate -
non-owner occupied
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Residential real estate
(SFR 1-4)
|
|
|
3,766 |
|
|
|
4,071 |
|
|
|
434 |
|
|
|
3,363 |
|
|
|
— |
|
Dairy and
livestock
|
|
|
4,303 |
|
|
|
4,340 |
|
|
|
1,596 |
|
|
|
4,017 |
|
|
|
73 |
|
Municipal lease finance
receivables
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Consumer
|
|
|
73 |
|
|
|
74 |
|
|
|
11 |
|
|
|
75 |
|
|
|
— |
|
Auto and equipment
leases
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
8,465 |
|
|
|
8,831 |
|
|
|
2,332 |
|
|
|
7,870 |
|
|
|
73 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-covered impaired
loans
|
|
$ |
108,390 |
|
|
$ |
125,631 |
|
|
$ |
2,332 |
|
|
$ |
110,479 |
|
|
$ |
2,300 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans Modified as Troubled Debt Restructurings |
The following are the loans
modified as troubled debt restructuring during the three months
ended March 31, 2013, and 2012:
Modifications
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months
Ended March 31, 2013 |
|
|
|
Number
of Loans |
|
|
Pre-Modification
Outstanding
Recorded
Investment |
|
|
Post-Modification
Outstanding
Recorded
Investment |
|
|
Outstanding
Recorded
Investment at
March 31, 2013 |
|
|
|
(Dollars in
thousands) |
|
Commercial and
industrial
|
|
|
2 |
|
|
$ |
204 |
|
|
$ |
204 |
|
|
$ |
193 |
|
Construction -
speculative
|
|
|
— |
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
Construction -
non-speculative
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Commercial real estate -
owner occupied
|
|
|
1 |
|
|
|
168 |
|
|
|
168 |
|
|
|
168 |
|
Commercial real estate -
non-owner occupied
|
|
|
— |
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
Residential real estate
(SFR 1-4)
|
|
|
— |
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
Dairy and
livestock
|
|
|
8 |
|
|
|
9,973 |
|
|
|
9,973 |
|
|
|
9,855 |
|
Municipal lease finance
receivables
|
|
|
— |
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-covered
loans
|
|
|
11 |
|
|
|
10,345 |
|
|
|
10,345 |
|
|
|
10,216 |
|
Covered loans
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total gross
loans
|
|
|
11 |
|
|
$ |
10,345 |
|
|
$ |
10,345 |
|
|
$ |
10,216 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months
Ended March 31, 2012 |
|
|
|
Number
of Loans |
|
|
Pre-Modification
Outstanding
Recorded
Investment |
|
|
Post-Modification
Outstanding
Recorded
Investment |
|
|
Outstanding
Recorded
Investment at
March 31, 2012 |
|
|
|
(Dollars in
thousands) |
|
Commercial and
industrial
|
|
|
2 |
|
|
$ |
2,534 |
|
|
$ |
2,534 |
|
|
$ |
2,532 |
|
Construction -
speculative
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Construction -
non-speculative
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Commercial real estate -
owner occupied
|
|
|
1 |
|
|
|
307 |
|
|
|
307 |
|
|
|
304 |
|
Commercial real estate -
non-owner occupied
|
|
|
1 |
|
|
|
513 |
|
|
|
513 |
|
|
|
513 |
|
Residential real estate
(SFR 1-4)
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Dairy and
livestock
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Municipal lease finance
receivables
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-covered
loans
|
|
|
4 |
|
|
|
3,354 |
|
|
|
3,354 |
|
|
|
3,349 |
|
Covered loans
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total gross
loans
|
|
|
4 |
|
|
$ |
3,354 |
|
|
$ |
3,354 |
|
|
$ |
3,349 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|