Loans (Tables)

6 Months Ended

Jun. 30, 2017

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, 2017									December 31, 2016
	Loans, excluding PCI loans			PCI Loans			Total			Loans, excluding PCI loans			PCI Loans			Total
	(in thousands)
Commercial business	$	2,704,468		$	15,299		$	2,719,767		$	2,551,054		$	20,185		$	2,571,239
Real estate:
One-to-four family residential	173,150			14,735			187,885			170,331			17,862			188,193
Commercial and multifamily residential	2,787,560			84,385			2,871,945			2,719,830			89,231			2,809,061
Total real estate	2,960,710			99,120			3,059,830			2,890,161			107,093			2,997,254
Real estate construction:
One-to-four family residential	139,956			453			140,409			121,887			832			122,719
Commercial and multifamily residential	195,565			961			196,526			209,118			1,565			210,683
Total real estate construction	335,521			1,414			336,935			331,005			2,397			333,402
Consumer	323,187			14,020			337,207			329,261			15,985			345,246
Less: Net unearned income	(30,665		)	—			(30,665		)	(33,718		)	—			(33,718		)
Total loans, net of unearned income	6,293,221			129,853			6,423,074			6,067,763			145,660			6,213,423
Less: Allowance for loan and lease losses	(64,923		)	(8,061		)	(72,984		)	(59,528		)	(10,515		)	(70,043		)
Total loans, net	$	6,228,298		$	121,792		$	6,350,090		$	6,008,235		$	135,145		$	6,143,380
Loans held for sale	$	6,918		$	—		$	6,918		$	5,846		$	—		$	5,846

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, 2017 and December 31, 2016:

	June 30, 2017				December 31, 2016
	Recorded Investment Nonaccrual Loans		Unpaid Principal Balance Nonaccrual Loans		Recorded Investment Nonaccrual Loans		Unpaid Principal Balance Nonaccrual Loans
	(in thousands)
Commercial business:
Secured	$	24,663	$	38,586	$	11,524	$	21,503
Unsecured	84		237		31		303
Real estate:
One-to-four family residential	697		1,248		568		1,302
Commercial & multifamily residential:
Commercial land	3,198		3,503		934		922
Income property	3,411		3,741		4,005		4,247
Owner occupied	658		2,137		6,248		9,030
Real estate construction:
One-to-four family residential:
Land and acquisition	27		27		14		102
Residential construction	214		214		549		549
Consumer	3,872		4,543		3,883		4,331
Total	$	36,824	$	54,236	$	27,756	$	42,289

Analysis of the Aged Loan Portfolio

The following is an aging of the recorded investment of the loan portfolio as of June 30, 2017 and December 31, 2016:

	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, 2017	(in thousands)
Commercial business:
Secured	$	2,572,664	$	5,227	$	1,810	$	—	$	7,037	$	24,663	$	2,604,364
Unsecured	95,132		180		23		—		203		84		95,419
Real estate:
One-to-four family residential	169,244		965		148		—		1,113		697		171,054
Commercial & multifamily residential:
Commercial land	280,322		—		—		—		—		3,198		283,520
Income property	1,351,539		561		256		—		817		3,411		1,355,767
Owner occupied	1,126,857		2,309		943		—		3,252		658		1,130,767
Real estate construction:
One-to-four family residential:
Land and acquisition	6,022		—		—		—		—		27		6,049
Residential construction	132,953		—		—		—		—		214		133,167
Commercial & multifamily residential:
Income property	153,529		—		—		—		—		—		153,529
Owner occupied	35,416		4,050		—		—		4,050		—		39,466
Consumer	314,196		1,748		303		—		2,051		3,872		320,119
Total	$	6,237,874	$	15,040	$	3,483	$	—	$	18,523	$	36,824	$	6,293,221
	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, 2016	(in thousands)
Commercial business:
Secured	$	2,439,250	$	806	$	10	$	—	$	816	$	11,524	$	2,451,590
Unsecured	94,118		287		301		—		588		31		94,737
Real estate:
One-to-four family residential	164,416		2,448		500		—		2,948		568		167,932
Commercial & multifamily residential:
Commercial land	269,816		64		—		—		64		934		270,814
Income property	1,365,150		480		111		—		591		4,005		1,369,746
Owner occupied	1,052,078		1,652		—		—		1,652		6,248		1,059,978
Real estate construction:
One-to-four family residential:
Land and acquisition	11,542		—		—		—		—		14		11,556
Residential construction	109,080		—		—		—		—		549		109,629
Commercial & multifamily residential:
Income property	103,779		—		—		—		—		—		103,779
Owner occupied	103,480		—		—		—		—		—		103,480
Consumer	318,369		2,035		235		—		2,270		3,883		324,522
Total	$	6,031,078	$	7,772	$	1,157	$	—	$	8,929	$	27,756	$	6,067,763

Impaired Financing Receivables

The following is an analysis of impaired loans as of June 30, 2017 and December 31, 2016:

	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, 2017	(in thousands)
Commercial business:
Secured	$	2,580,972	$	23,392	$	10,275	$	10,275	$	3,425	$	13,117	$	18,238
Unsecured	95,419		—		—		—		—		—		—
Real estate:
One-to-four family residential	170,271		783		320		574		4		463		908
Commercial & multifamily residential:
Commercial land	280,721		2,799		—		—		—		2,799		2,787
Income property	1,352,109		3,658		525		530		25		3,133		3,422
Owner occupied	1,127,370		3,397		—		—		—		3,397		6,297
Real estate construction:
One-to-four family residential:
Land and acquisition	6,049		—		—		—		—		—		—
Residential construction	133,167		—		—		—		—		—		—
Commercial & multifamily residential:
Income property	153,529		—		—		—		—		—		—
Owner occupied	39,466		—		—		—		—		—		—
Consumer	314,476		5,643		4,877		4,920		45		766		905
Total	$	6,253,549	$	39,672	$	15,997	$	16,299	$	3,499	$	23,675	$	32,557
	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, 2016	(in thousands)
Commercial business:
Secured	$	2,442,772	$	8,818	$	2,414	$	2,484	$	664	$	6,404	$	12,831
Unsecured	94,737		—		—		—		—		—		—
Real estate:
One-to-four family residential	167,403		529		435		693		12		94		291
Commercial & multifamily residential:
Commercial land	270,106		708		—		—		—		708		687
Income property	1,365,321		4,425		540		544		27		3,885		4,148
Owner occupied	1,054,564		5,414		—		—		—		5,414		8,102
Real estate construction:
One-to-four family residential:
Land and acquisition	11,542		14		14		102		1		—		—
Residential construction	109,293		336		—		—		—		336		336
Commercial & multifamily residential:
Income property	103,779		—		—		—		—		—		—
Owner occupied	103,480		—		—		—		—		—		—
Consumer	319,307		5,215		4,464		4,558		57		751		833
Total	$	6,042,304	$	25,459	$	7,867	$	8,381	$	761	$	17,592	$	27,228

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,
	2017				2016					2017				2016
	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	$	15,590	$	50	$	12,859	$	20		$	13,332	$	69	$	10,414	$	33
Real estate:
One-to-four family residential	648		21		676		(3		)	608		22		879		3
Commercial & multifamily residential:
Commercial land	2,549		—		354		—			1,936		—		236		—
Income property	3,676		7		1,749		10			3,925		6		1,868		14
Owner occupied	3,453		192		5,102		—			4,107		192		5,420		—
Real estate construction:
One-to-four family residential:
Land and acquisition	—		—		206		1			5		—		293		3
Residential construction	—		—		562		—			112		—		562		—
Consumer	5,584		31		2,332		20			5,461		57		1,581		21
Total	$	31,500	$	301	$	23,840	$	48		$	29,486	$	346	$	21,253	$	74

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

The following is an analysis of loans classified as troubled debt restructurings (“TDR”) during the three and six months ended June 30, 2017 and 2016:

	Three months ended June 30, 2017					Three months ended June 30, 2016
	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	$	1,422	$	1,422	2	$	293	$	293
Real estate:
One-to-four family residential	1	382		382		—	—		—
Commercial and multifamily residential:
Owner occupied	—	—		—		1	30		30
Consumer	8	815		815		14	2,214		2,214
Total	11	$	2,619	$	2,619	17	$	2,537	$	2,537

	Six months ended June 30, 2017					Six months ended June 30, 2016
	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	$	1,778	$	1,778	5	$	1,663	$	1,663
Real estate:
One-to-four family residential	1	382		382		—	—		—
Commercial and multifamily residential:
Owner occupied	—	—		—		2	280		280
Consumer	18	2,361		2,361		18	2,711		2,711
Total	24	$	4,521	$	4,521	25	$	4,654	$	4,654

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, 2017 and December 31, 2016:

	June 30, 2017		December 31, 2016
	(in thousands)
Commercial business	$	16,608	$	21,606
Real estate:
One-to-four family residential	17,242		20,643
Commercial and multifamily residential	88,398		94,795
Total real estate	105,640		115,438
Real estate construction:
One-to-four family residential	453		832
Commercial and multifamily residential	1,074		1,726
Total real estate construction	1,527		2,558
Consumer	15,527		17,649
Subtotal of PCI loans	139,302		157,251
Less:
Valuation discount resulting from acquisition accounting	9,449		11,591
Allowance for loan losses	8,061		10,515
PCI loans, net of allowance for loan losses	$	121,792	$	135,145

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, 2017 and 2016:

	Three Months Ended June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
	(in thousands)
Balance at beginning of period	$	38,444		$	56,607		$	45,191		$	58,981
Accretion	(2,882		)	(3,774		)	(7,064		)	(8,003		)
Disposals	—			149			(158		)	1,910
Reclassifications from (to) nonaccretable difference	144			(73		)	(2,263		)	21
Balance at end of period	$	35,706		$	52,909		$	35,706		$	52,909