Loans (Tables)

6 Months Ended

Jun. 30, 2015

Financing Receivable, Recorded Investment [Line Items]

Analysis of Loan Portfolio by Major Types of Loans

	June 30, 2015									December 31, 2014
	Loans, excluding PCI loans			PCI Loans			Total			Loans, excluding PCI loans			PCI Loans			Total
	(in thousands)
Commercial business	$	2,255,468		$	41,221		$	2,296,689		$	2,119,565		$	44,505		$	2,164,070
Real estate:
One-to-four family residential	181,849			25,740			207,589			175,571			26,993			202,564
Commercial and multifamily residential	2,406,594			108,578			2,515,172			2,363,541			128,769			2,492,310
Total real estate	2,588,443			134,318			2,722,761			2,539,112			155,762			2,694,874
Real estate construction:
One-to-four family residential	127,311			2,882			130,193			116,866			4,021			120,887
Commercial and multifamily residential	129,302			2,020			131,322			134,443			2,321			136,764
Total real estate construction	256,613			4,902			261,515			251,309			6,342			257,651
Consumer	358,365			21,926			380,291			364,182			23,975			388,157
Less: Net unearned income	(49,359		)	—			(49,359		)	(59,374		)	—			(59,374		)
Total loans, net of unearned income	5,409,530			202,367			5,611,897			5,214,794			230,584			5,445,378
Less: Allowance for loan and lease losses	(53,083		)	(16,174		)	(69,257		)	(53,233		)	(16,336		)	(69,569		)
Total loans, net	$	5,356,447		$	186,193		$	5,542,640		$	5,161,561		$	214,248		$	5,375,809
Loans held for sale	$	4,220		$	—		$	4,220		$	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 June 30, 2015 and December 31, 2014:

	June 30, 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	$	13,018	$	17,139	$	16,552	$	21,453
Unsecured	521		673		247		269
Real estate:
One-to-four family residential	4,193		5,985		2,822		5,680
Commercial & multifamily residential:
Commercial land	1,561		1,704		821		1,113
Income property	1,276		1,331		3,200		5,521
Owner occupied	972		1,131		3,826		5,837
Real estate construction:
One-to-four family residential:
Land and acquisition	862		866		95		112
Residential construction	1,075		1,222		370		370
Commercial & multifamily residential:
Owner occupied	469		489		480		489
Consumer	1,799		2,176		2,939		3,930
Total	$	25,746	$	32,716	$	31,352	$	44,774

Analysis of the Aged Loan Portfolio

June 30, 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
June 30, 2015	(in thousands)
Commercial business:
Secured	$	2,149,972	$	3,847	$	1,589	$	—	$	5,436	$	13,018	$	2,168,426
Unsecured	81,433		270		—		—		270		521		82,224
Real estate:
One-to-four family residential	172,268		2,024		128		—		2,152		4,193		178,613
Commercial & multifamily residential:
Commercial land	206,558		1,154		—		—		1,154		1,561		209,273
Income property	1,310,441		1,756		415		—		2,171		1,276		1,313,888
Owner occupied	857,764		589		276		—		865		972		859,601
Real estate construction:
One-to-four family residential:
Land and acquisition	15,955		—		—		—		—		862		16,817
Residential construction	107,279		758		—		—		758		1,075		109,112
Commercial & multifamily residential:
Income property	64,557		—		—		—		—		—		64,557
Owner occupied	61,572		981		—		—		981		469		63,022
Consumer	341,606		444		148		—		592		1,799		343,997
Total	$	5,369,405	$	11,823	$	2,556	$	—	$	14,379	$	25,746	$	5,409,530
	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 June 30, 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
June 30, 2015	(in thousands)
Commercial business:
Secured	$	2,160,836	$	7,590	$	1,230	$	1,231	$	1,161	$	6,360	$	8,169
Unsecured	82,224		—		—		—		—		—		—
Real estate:
One-to-four family residential	174,430		4,183		416		458		111		3,767		4,428
Commercial & multifamily residential:
Commercial land	209,273		—		—		—		—		—		—
Income property	1,311,944		1,944		—		—		—		1,944		2,326
Owner occupied	853,498		6,103		575		574		20		5,528		8,008
Real estate construction:
One-to-four family residential:
Land and acquisition	15,849		968		107		107		66		861		866
Residential construction	108,219		893		—		—		—		893		893
Commercial & multifamily residential:
Income property	64,557		—		—		—		—		—		—
Owner occupied	63,022		—		—		—		—		—		—
Consumer	343,971		26		—		—		—		26		105
Total	$	5,387,823	$	21,707	$	2,328	$	2,370	$	1,358	$	19,379	$	24,795
	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 and six month periods indicated:

	Three Months Ended June 30,								Six Months Ended June 30,
	2015				2014				2015				2014
	Average Recorded Investment Impaired Loans		Interest Recognized on Impaired Loans		Average Recorded Investment Impaired Loans		Interest Recognized on Impaired Loans		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	$	9,231	$	8	$	6,933	$	17	$	9,662	$	15	$	6,318	$	33
Unsecured	—		—		23		—		1		—		27		1
Real estate:
One-to-four family residential	4,180		11		2,069		11		3,502		24		1,920		23
Commercial & multifamily residential:
Commercial land	235		—		103		—		157		—		107		—
Income property	1,966		23		7,213		74		3,427		33		6,946		136
Owner occupied	6,567		235		9,222		235		7,326		468		9,817		476
Real estate construction:
One-to-four family residential:
Land and acquisition	974		2		653		1		686		3		1,083		3
Residential construction	893		—		—		—		595		—		—		—
Consumer	355		1		155		3		278		2		159		5
Total	$	24,401	$	280	$	26,371	$	341	$	25,634	$	545	$	26,377	$	677

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

	Three Months Ended June 30,								Six Months Ended June 30,
	2015				2014				2015				2014
	Average Recorded Investment Impaired Loans		Interest Recognized on Impaired Loans		Average Recorded Investment Impaired Loans		Interest Recognized on Impaired Loans		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	$	9,231	$	8	$	6,933	$	17	$	9,662	$	15	$	6,318	$	33
Unsecured	—		—		23		—		1		—		27		1
Real estate:
One-to-four family residential	4,180		11		2,069		11		3,502		24		1,920		23
Commercial & multifamily residential:
Commercial land	235		—		103		—		157		—		107		—
Income property	1,966		23		7,213		74		3,427		33		6,946		136
Owner occupied	6,567		235		9,222		235		7,326		468		9,817		476
Real estate construction:
One-to-four family residential:
Land and acquisition	974		2		653		1		686		3		1,083		3
Residential construction	893		—		—		—		595		—		—		—
Consumer	355		1		155		3		278		2		159		5
Total	$	24,401	$	280	$	26,371	$	341	$	25,634	$	545	$	26,377	$	677

The following is an analysis of loans classified as troubled debt restructurings (“TDR”) during the three and six months ended June 30, 2015 and 2014:

	Three months ended June 30, 2015					Three months ended June 30, 2014
	Number of TDR Modifications	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		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	1	30		30		—	—		—
Total	1	$	30	$	30	2	$	546	$	546

	Six months ended June 30, 2015					Six months ended June 30, 2014
	Number of TDR Modifications	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of TDR Modifications	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
	(dollars in thousands)
Commercial business:
Secured	—	$	—	$	—	4	$	759	$	759
Real estate:
One-to-four family residential	1	30		30		2	494		494
Commercial and multifamily residential:
Income property	—	—		—		1	143		126
Total	1	$	30	$	30	7	$	1,396	$	1,379

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 June 30, 2015 and December 31, 2014:

	June 30, 2015		December 31, 2014
	(in thousands)
Commercial business	$	45,934	$	50,334
Real estate:
One-to-four family residential	29,860		31,981
Commercial and multifamily residential	116,992		140,398
Total real estate	146,852		172,379
Real estate construction:
One-to-four family residential	3,040		4,353
Commercial and multifamily residential	2,249		2,588
Total real estate construction	5,289		6,941
Consumer	24,427		26,814
Subtotal of PCI loans	222,502		256,468
Less:
Valuation discount resulting from acquisition accounting	20,135		25,884
Allowance for loan losses	16,174		16,336
PCI loans, net of allowance for loan losses	$	186,193	$	214,248

Changes in Accretable Yield for Acquired Loans

The following table shows the changes in accretable yield for PCI loans for the three and six months ended June 30, 2015 and 2014:

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(in thousands)
Balance at beginning of period	$	68,726		$	101,543		$	73,849		$	103,907
Accretion	(5,737		)	(10,055		)	(12,056		)	(20,624		)
Disposals	(959		)	—			(2,052		)	(2,826		)
Reclassifications from nonaccretable difference	5,253			1,023			7,542			12,054
Balance at end of period	$	67,283		$	92,511		$	67,283		$	92,511