Loans (Tables)

3 Months Ended

Mar. 31, 2015

Financing Receivable, Recorded Investment [Line Items]

Analysis of Loan Portfolio by Major Types of Loans

	March 31, 2015									December 31, 2014
	Loans, excluding PCI loans			PCI Loans			Total			Loans, excluding PCI loans			PCI Loans			Total
	(in thousands)
Commercial business	$	2,139,873		$	46,335		$	2,186,208		$	2,119,565		$	44,505		$	2,164,070
Real estate:
One-to-four family residential	173,739			26,601			200,340			175,571			26,993			202,564
Commercial and multifamily residential	2,374,454			118,230			2,492,684			2,363,541			128,769			2,492,310
Total real estate	2,548,193			144,831			2,693,024			2,539,112			155,762			2,694,874
Real estate construction:
One-to-four family residential	124,017			3,797			127,814			116,866			4,021			120,887
Commercial and multifamily residential	119,880			2,238			122,118			134,443			2,321			136,764
Total real estate construction	243,897			6,035			249,932			251,309			6,342			257,651
Consumer	352,960			22,638			375,598			364,182			23,975			388,157
Less: Net unearned income	(53,867		)	—			(53,867		)	(59,374		)	—			(59,374		)
Total loans, net of unearned income	5,231,056			219,839			5,450,895			5,214,794			230,584			5,445,378
Less: Allowance for loan and lease losses	(53,703		)	(16,531		)	(70,234		)	(53,233		)	(16,336		)	(69,569		)
Total loans, net	$	5,177,353		$	203,308		$	5,380,661		$	5,161,561		$	214,248		$	5,375,809
Loans held for sale	$	3,545		$	—		$	3,545		$	1,116		$	—		$	1,116

Loans, Excluding Purchased Credit Impaired Loans [Member]

Financing Receivable, Recorded Investment [Line Items]

Analysis of Nonaccrual Loans

The following is an analysis of nonaccrual loans as of March 31, 2015 and December 31, 2014:

	March 31, 2015				December 31, 2014
	Recorded Investment Nonaccrual Loans		Unpaid Principal Balance Nonaccrual Loans		Recorded Investment Nonaccrual Loans		Unpaid Principal Balance Nonaccrual Loans
	(in thousands)
Commercial business:
Secured	$	17,240	$	20,573	$	16,552	$	21,453
Unsecured	189		211		247		269
Real estate:
One-to-four family residential	4,429		6,109		2,822		5,680
Commercial & multifamily residential:
Commercial land	1,616		1,560		821		1,113
Income property	887		887		3,200		5,521
Owner occupied	1,995		2,036		3,826		5,837
Real estate construction:
One-to-four family residential:
Land and acquisition	871		871		95		112
Residential construction	1,263		1,263		370		370
Commercial & multifamily residential:
Owner occupied	470		489		480		489
Consumer	2,868		3,799		2,939		3,930
Total	$	31,828	$	37,798	$	31,352	$	44,774

Analysis of the Aged Loan Portfolio

March 31, 2015 and December 31, 2014:

	Current Loans		30 - 59 Days Past Due		60 - 89 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Nonaccrual Loans		Total Loans
March 31, 2015	(in thousands)
Commercial business:
Secured	$	2,024,277	$	11,910	$	1,874	$	58	$	13,842	$	17,240	$	2,055,359
Unsecured	78,351		492		120		67		679		189		79,219
Real estate:
One-to-four family residential	164,962		771		124		21		916		4,429		170,307
Commercial & multifamily residential:
Commercial land	186,904		4,303		355		264		4,922		1,616		193,442
Income property	1,305,595		2,502		560		—		3,062		887		1,309,544
Owner occupied	841,551		2,206		435		—		2,641		1,995		846,187
Real estate construction:
One-to-four family residential:
Land and acquisition	15,860		67		—		—		67		871		16,798
Residential construction	104,378		—		—		4		4		1,263		105,645
Commercial & multifamily residential:
Income property	62,958		—		—		—		—		—		62,958
Owner occupied	54,969		—		—		—		—		470		55,439
Consumer	331,566		1,509		193		22		1,724		2,868		336,158
Total	$	5,171,371	$	23,760	$	3,661	$	436	$	27,857	$	31,828	$	5,231,056
	Current Loans		30 - 59 Days Past Due		60 - 89 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Nonaccrual Loans		Total Loans
December 31, 2014	(in thousands)
Commercial business:
Secured	$	2,004,418	$	5,137	$	6,149	$	1,372	$	12,658	$	16,552	$	2,033,628
Unsecured	79,661		185		—		—		185		247		80,093
Real estate:
One-to-four family residential	167,197		1,700		45		—		1,745		2,822		171,764
Commercial & multifamily residential:
Commercial land	187,470		1,454		34		—		1,488		821		189,779
Income property	1,294,982		3,031		786		—		3,817		3,200		1,301,999
Owner occupied	839,689		937		289		—		1,226		3,826		844,741
Real estate construction:
One-to-four family residential:
Land and acquisition	15,462		953		—		—		953		95		16,510
Residential construction	97,821		326		—		4		330		370		98,521
Commercial & multifamily residential:
Income property	73,783		—		—		—		—		—		73,783
Owner occupied	57,470		—		994		—		994		480		58,944
Consumer	341,032		933		118		10		1,061		2,939		345,032
Total	$	5,158,985	$	14,656	$	8,415	$	1,386	$	24,457	$	31,352	$	5,214,794

Impaired Financing Receivables

The following is an analysis of impaired loans as of March 31, 2015 and December 31, 2014:

	Recorded Investment of Loans Collectively Measured for Contingency Provision		Recorded Investment of Loans Individually Measured for Specific Impairment		Impaired Loans With Recorded Allowance						Impaired Loans Without Recorded Allowance
					Recorded Investment		Unpaid Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance
March 31, 2015	(in thousands)
Commercial business:
Secured	$	2,044,486	$	10,873	$	96	$	96	$	24	$	10,777	$	12,986
Unsecured	79,219		—		—		—		—		—		—
Real estate:
One-to-four family residential	166,129		4,178		420		461		115		3,758		4,220
Commercial & multifamily residential:
Commercial land	192,972		470		—		—		—		470		470
Income property	1,307,556		1,988		—		—		—		1,988		2,355
Owner occupied	839,157		7,030		578		578		24		6,452		8,944
Real estate construction:
One-to-four family residential:
Land and acquisition	15,818		980		109		108		67		871		871
Residential construction	104,752		893		—		—		—		893		893
Commercial & multifamily residential:
Income property	62,958		—		—		—		—		—		—
Owner occupied	55,439		—		—		—		—		—		—
Consumer	335,474		684		—		—		—		684		895
Total	$	5,203,960	$	27,096	$	1,203	$	1,243	$	230	$	25,893	$	31,634
	Recorded Investment of Loans Collectively Measured for Contingency Provision		Recorded Investment of Loans Individually Measured for Specific Impairment		Impaired Loans With Recorded Allowance						Impaired Loans Without Recorded Allowance
					Recorded Investment		Unpaid Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance
December 31, 2014	(in thousands)
Commercial business:
Secured	$	2,023,104	$	10,524	$	99	$	99	$	25	$	10,425	$	12,410
Unsecured	80,091		2		2		2		2		—		—
Real estate:
One-to-four family residential	169,619		2,145		424		465		120		1,721		2,370
Commercial & multifamily residential:
Commercial land	189,779		—		—		—		—		—		—
Income property	1,295,650		6,349		—		—		—		6,349		10,720
Owner occupied	835,895		8,846		582		582		27		8,264		12,732
Real estate construction:
One-to-four family residential:
Land and acquisition	16,401		109		109		109		67		—		—
Residential construction	98,521		—		—		—		—		—		—
Commercial & multifamily residential:
Income property	73,783		—		—		—		—		—		—
Owner occupied	58,944		—		—		—		—		—		—
Consumer	344,908		124		—		—		—		124		201
Total	$	5,186,695	$	28,099	$	1,216	$	1,257	$	241	$	26,883	$	38,433

The following table provides additional information on impaired loans for the three month periods indicated:

	Three Months Ended March 31,
	2015				2014
	Average Recorded Investment Impaired Loans		Interest Recognized on Impaired Loans		Average Recorded Investment Impaired Loans		Interest Recognized on Impaired Loans
	(in thousands)
Commercial business:
Secured	$	10,698	$	7	$	6,232	$	17
Unsecured	1		—		31		—
Real estate:
One-to-four family residential	3,162		13		1,856		13
Commercial & multifamily residential:
Commercial land	235		—		111		—
Income property	4,168		10		6,436		62
Owner occupied	7,938		234		10,140		241
Real estate construction:
One-to-four family residential:
Land and acquisition	544		1		1,569		1
Residential construction	446		—		—		—
Consumer	404		2		163		2
Total	$	27,596	$	267	$	26,538	$	336

Analysis of loans classified as Troubled Debt Restructurings (“TDR”)

	Three Months Ended March 31,
	2015				2014
	Average Recorded Investment Impaired Loans		Interest Recognized on Impaired Loans		Average Recorded Investment Impaired Loans		Interest Recognized on Impaired Loans
	(in thousands)
Commercial business:
Secured	$	10,698	$	7	$	6,232	$	17
Unsecured	1		—		31		—
Real estate:
One-to-four family residential	3,162		13		1,856		13
Commercial & multifamily residential:
Commercial land	235		—		111		—
Income property	4,168		10		6,436		62
Owner occupied	7,938		234		10,140		241
Real estate construction:
One-to-four family residential:
Land and acquisition	544		1		1,569		1
Residential construction	446		—		—		—
Consumer	404		2		163		2
Total	$	27,596	$	267	$	26,538	$	336

There were no troubled debt restructurings (“TDR”) during the three months ended March 31, 2015. The following is an analysis of loans classified as TDR during the three months ended March 31, 2014:

	Three months ended March 31, 2014
	Number of TDR Modifications	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
	(dollars in thousands)
Commercial business:
Secured	2	$	546	$	546
Real estate:
One-to-four family residential	2	494		494
Commercial and multifamily residential:
Income property	1	143		126
Total	5	$	1,183	$	1,166

Purchased Credit Impaired Loans [Member]

Financing Receivable, Recorded Investment [Line Items]

Analysis of Loan Portfolio by Major Types of Loans

The following is an analysis of our PCI loans, net of related allowance for losses and remaining valuation discounts as of March 31, 2015 and December 31, 2014:

	March 31, 2015		December 31, 2014
	(in thousands)
Commercial business	$	52,115	$	50,334
Real estate:
One-to-four family residential	31,127		31,981
Commercial and multifamily residential	127,952		140,398
Total real estate	159,079		172,379
Real estate construction:
One-to-four family residential	4,026		4,353
Commercial and multifamily residential	2,501		2,588
Total real estate construction	6,527		6,941
Consumer	25,390		26,814
Subtotal of PCI loans	243,111		256,468
Less:
Valuation discount resulting from acquisition accounting	23,272		25,884
Allowance for loan losses	16,531		16,336
PCI loans, net of allowance for loan losses	$	203,308	$	214,248

Changes in Accretable Yield for Acquired Loans

The following table shows the changes in accretable yield for PCI loans for the three months ended March 31, 2015 and 2014:

	Three Months Ended March 31,
	2015			2014
	(in thousands)
Balance at beginning of period	$	73,849		$	103,907
Accretion	(6,319		)	(10,569		)
Disposals	(1,093		)	(2,826		)
Reclassifications from nonaccretable difference	2,289			11,031
Balance at end of period	$	68,726		$	101,543