Loans (Tables)

6 Months Ended

Jun. 30, 2016

Financing Receivable, Recorded Investment [Line Items]

Analysis of Loan Portfolio by Major Types of Loans

The following is an analysis of the loan portfolio by segment (net of unearned income):

	June 30, 2016									December 31, 2015
	Loans, excluding PCI loans			PCI Loans			Total			Loans, excluding PCI loans			PCI Loans			Total
	(in thousands)
Commercial business	$	2,518,682		$	25,545		$	2,544,227		$	2,362,575		$	34,848		$	2,397,423
Real estate:
One-to-four family residential	172,957			20,755			193,712			176,295			23,938			200,233
Commercial and multifamily residential	2,651,476			94,564			2,746,040			2,491,736			99,389			2,591,125
Total real estate	2,824,433			115,319			2,939,752			2,668,031			123,327			2,791,358
Real estate construction:
One-to-four family residential	129,195			1,642			130,837			135,874			2,278			138,152
Commercial and multifamily residential	185,315			1,602			186,917			167,413			1,630			169,043
Total real estate construction	314,510			3,244			317,754			303,287			3,908			307,195
Consumer	325,632			16,999			342,631			342,601			18,823			361,424
Less: Net unearned income	(37,221		)	—			(37,221		)	(42,373		)	—			(42,373		)
Total loans, net of unearned income	5,946,036			161,107			6,107,143			5,634,121			180,906			5,815,027
Less: Allowance for loan and lease losses	(57,523		)	(11,781		)	(69,304		)	(54,446		)	(13,726		)	(68,172		)
Total loans, net	$	5,888,513		$	149,326		$	6,037,839		$	5,579,675		$	167,180		$	5,746,855
Loans held for sale	$	7,649		$	—		$	7,649		$	4,509		$	—		$	4,509

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, 2016 and December 31, 2015:

	June 30, 2016				December 31, 2015
	Recorded Investment Nonaccrual Loans		Unpaid Principal Balance Nonaccrual Loans		Recorded Investment Nonaccrual Loans		Unpaid Principal Balance Nonaccrual Loans
	(in thousands)
Commercial business:
Secured	$	9,478	$	18,488	$	9,395	$	15,688
Unsecured	70		300		42		256
Real estate:
One-to-four family residential	957		2,006		820		1,866
Commercial & multifamily residential:
Commercial land	1,135		1,123		349		332
Income property	880		1,010		2,843		3,124
Owner occupied	5,819		8,331		6,321		8,943
Real estate construction:
One-to-four family residential:
Land and acquisition	—		—		362		385
Residential construction	562		562		566		679
Consumer	4,014		4,251		766		990
Total	$	22,915	$	36,071	$	21,464	$	32,263

Analysis of the Aged Loan Portfolio

The following is an aging of the recorded investment of the loan portfolio as of June 30, 2016 and December 31, 2015:

	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, 2016	(in thousands)
Commercial business:
Secured	$	2,403,126	$	3,539	$	1,278	$	—	$	4,817	$	9,478	$	2,417,421
Unsecured	96,789		31		—		—		31		70		96,890
Real estate:
One-to-four family residential	166,399		2,781		35		—		2,816		957		170,172
Commercial & multifamily residential:
Commercial land	233,072		—		—		—		—		1,135		234,207
Income property	1,365,929		5,298		—		—		5,298		880		1,372,107
Owner occupied	1,017,728		525		374		—		899		5,819		1,024,446
Real estate construction:
One-to-four family residential:
Land and acquisition	10,708		—		—		—		—		—		10,708
Residential construction	117,302		—		—		—		—		562		117,864
Commercial & multifamily residential:
Income property	78,867		—		—		—		—		—		78,867
Owner occupied	104,896		—		—		—		—		—		104,896
Consumer	311,792		893		1,759		—		2,652		4,014		318,458
Total	$	5,906,608	$	13,067	$	3,446	$	—	$	16,513	$	22,915	$	5,946,036
	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, 2015	(in thousands)
Commercial business:
Secured	$	2,241,069	$	11,611	$	617	$	—	$	12,228	$	9,395	$	2,262,692
Unsecured	94,867		39		—		—		39		42		94,948
Real estate:
One-to-four family residential	170,913		1,637		66		—		1,703		820		173,436
Commercial & multifamily residential:
Commercial land	212,740		69		—		—		69		349		213,158
Income property	1,305,502		1,750		684		—		2,434		2,843		1,310,779
Owner occupied	939,396		599		—		—		599		6,321		946,316
Real estate construction:
One-to-four family residential:
Land and acquisition	14,388		—		—		—		—		362		14,750
Residential construction	119,809		—		—		—		—		566		120,375
Commercial & multifamily residential:
Income property	83,634		—		—		—		—		—		83,634
Owner occupied	81,671		—		—		—		—		—		81,671
Consumer	328,219		2,597		780		—		3,377		766		332,362
Total	$	5,592,208	$	18,302	$	2,147	$	—	$	20,449	$	21,464	$	5,634,121

Impaired Financing Receivables

The following is an analysis of impaired loans as of June 30, 2016 and December 31, 2015:

	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, 2016	(in thousands)
Commercial business:
Secured	$	2,410,385	$	7,036	$	3,320	$	6,570	$	2,486	$	3,716	$	5,337
Unsecured	96,890		—		—		—		—		—		—
Real estate:
One-to-four family residential	169,484		688		89		108		1		599		1,011
Commercial & multifamily residential:
Commercial land	233,499		708		—		—		—		708		687
Income property	1,370,662		1,445		636		687		100		809		918
Owner occupied	1,019,219		5,227		—		—		—		5,227		7,664
Real estate construction:
One-to-four family residential:
Land and acquisition	10,605		103		—		—		—		103		103
Residential construction	117,302		562		—		—		—		562		562
Commercial & multifamily residential:
Income property	78,867		—		—		—		—		—		—
Owner occupied	104,896		—		—		—		—		—		—
Consumer	315,363		3,095		1,860		1,870		118		1,235		1,319
Total	$	5,927,172	$	18,864	$	5,905	$	9,235	$	2,705	$	12,959	$	17,601
	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, 2015	(in thousands)
Commercial business:
Secured	$	2,257,168	$	5,524	$	690	$	718	$	321	$	4,834	$	6,455
Unsecured	94,948		—		—		—		—		—		—
Real estate:
One-to-four family residential	172,150		1,286		314		339		314		972		1,397
Commercial & multifamily residential:
Commercial land	213,158		—		—		—		—		—		—
Income property	1,308,673		2,106		—		—		—		2,106		2,311
Owner occupied	940,261		6,055		—		—		—		6,055		8,528
Real estate construction:
One-to-four family residential:
Land and acquisition	14,283		467		—		—		—		467		490
Residential construction	119,813		562		335		335		3		227		227
Commercial & multifamily residential:
Income property	83,634		—		—		—		—		—		—
Owner occupied	81,671		—		—		—		—		—		—
Consumer	332,282		80		15		15		15		65		139
Total	$	5,618,041	$	16,080	$	1,354	$	1,407	$	653	$	14,726	$	19,547

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,
	2016					2015				2016				2015
	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	$	12,859	$	20		$	9,231	$	8	$	10,414	$	33	$	9,662	$	15
Unsecured	—		—			—		—		—		—		1		—
Real estate:
One-to-four family residential	676		(3		)	4,180		11		879		3		3,502		24
Commercial & multifamily residential:
Commercial land	354		—			235		—		236		—		157		—
Income property	1,749		10			1,966		23		1,868		14		3,427		33
Owner occupied	5,102		—			6,567		235		5,420		—		7,326		468
Real estate construction:
One-to-four family residential:
Land and acquisition	206		1			974		2		293		3		686		3
Residential construction	562		—			893		—		562		—		595		—
Consumer	2,332		20			355		1		1,581		21		278		2
Total	$	23,840	$	48		$	24,401	$	280	$	21,253	$	74	$	25,634	$	545

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

	Three Months Ended June 30,									Six Months Ended June 30,
	2016					2015				2016				2015
	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	$	12,859	$	20		$	9,231	$	8	$	10,414	$	33	$	9,662	$	15
Unsecured	—		—			—		—		—		—		1		—
Real estate:
One-to-four family residential	676		(3		)	4,180		11		879		3		3,502		24
Commercial & multifamily residential:
Commercial land	354		—			235		—		236		—		157		—
Income property	1,749		10			1,966		23		1,868		14		3,427		33
Owner occupied	5,102		—			6,567		235		5,420		—		7,326		468
Real estate construction:
One-to-four family residential:
Land and acquisition	206		1			974		2		293		3		686		3
Residential construction	562		—			893		—		562		—		595		—
Consumer	2,332		20			355		1		1,581		21		278		2
Total	$	23,840	$	48		$	24,401	$	280	$	21,253	$	74	$	25,634	$	545

The following is an analysis of loans classified as troubled debt restructurings (“TDR”) during the three and six months ended June 30, 2016 and 2015:

	Three months ended June 30, 2016					Three months ended June 30, 2015
	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	$	293	$	293	—	$	—	$	—
Real estate:
One-to-four family residential	—	—		—		1	30		30
Commercial and multifamily residential:
Owner occupied	1	30		30		—	—		—
Consumer	14	2,214		2,214		—	—		—
Total	17	$	2,537	$	2,537	1	$	30	$	30

	Six months ended June 30, 2016					Six months ended June 30, 2015
	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	5	$	1,663	$	1,663	—	$	—	$	—
Real estate:
One-to-four family residential	—	—		—		1	30		30
Commercial and multifamily residential:
Owner occupied	2	280		280		—	—		—
Consumer	18	2,711		2,711		—	—		—
Total	25	$	4,654	$	4,654	1	$	30	$	30

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, 2016 and December 31, 2015:

	June 30, 2016		December 31, 2015
	(in thousands)
Commercial business	$	28,449	$	38,784
Real estate:
One-to-four family residential	23,708		27,195
Commercial and multifamily residential	101,201		106,308
Total real estate	124,909		133,503
Real estate construction:
One-to-four family residential	1,660		2,326
Commercial and multifamily residential	1,783		1,834
Total real estate construction	3,443		4,160
Consumer	18,797		20,903
Subtotal of PCI loans	175,598		197,350
Less:
Valuation discount resulting from acquisition accounting	14,491		16,444
Allowance for loan losses	11,781		13,726
PCI loans, net of allowance for loan losses	$	149,326	$	167,180

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, 2016 and 2015:

	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
	(in thousands)
Balance at beginning of period	$	56,607		$	68,726		$	58,981		$	73,849
Accretion	(3,774		)	(5,737		)	(8,003		)	(12,056		)
Disposals	149			(959		)	1,910			(2,052		)
Reclassifications from (to) nonaccretable difference	(73		)	5,253			21			7,542
Balance at end of period	$	52,909		$	67,283		$	52,909		$	67,283