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Loans (Tables)
 3 Months Ended
Mar. 31, 2018
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):
 
 
March 31, 2018
 
December 31, 2017
 
 
Loans, excluding PCI loans
 
PCI Loans
 
Total
 
Loans, excluding PCI loans
 
PCI Loans
 
Total
 
 
(in thousands)
Commercial business
 
$
3,402,162

 
$
13,536

 
$
3,415,698

 
$
3,377,324

 
$
12,628

 
$
3,389,952

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
182,302

 
10,684

 
192,986

 
188,396

 
12,395

 
200,791

Commercial and multifamily residential
 
3,776,709

 
73,446

 
3,850,155

 
3,825,739

 
75,594

 
3,901,333

Total real estate
 
3,959,011

 
84,130

 
4,043,141

 
4,014,135

 
87,989

 
4,102,124

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
208,441

 
171

 
208,612

 
200,518

 
177

 
200,695

Commercial and multifamily residential
 
385,339

 
611

 
385,950

 
371,931

 
607

 
372,538

Total real estate construction
 
593,780

 
782

 
594,562

 
572,449

 
784

 
573,233

Consumer
 
323,631

 
10,851

 
334,482

 
334,190

 
11,269

 
345,459

Less: Net unearned income
 
(48,252
)
 
—

 
(48,252
)
 
(52,111
)
 
—

 
(52,111
)
Total loans, net of unearned income
 
8,230,332

 
109,299

 
8,339,631

 
8,245,987

 
112,670

 
8,358,657

Less: Allowance for loan and lease losses
 
(74,162
)
 
(5,665
)
 
(79,827
)
 
(68,739
)
 
(6,907
)
 
(75,646
)
Total loans, net
 
$
8,156,170

 
$
103,634

 
$
8,259,804

 
$
8,177,248

 
$
105,763

 
$
8,283,011

Loans held for sale
 
$
4,312

 
$
—

 
$
4,312

 
$
5,766

 
$
—

 
$
5,766
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, 2018 and December 31, 2017:
 
 
March 31, 2018
 
December 31, 2017
 
 
Recorded
Investment
Nonaccrual
Loans
 
Unpaid Principal
Balance
Nonaccrual
Loans
 
Recorded
Investment
Nonaccrual
Loans
 
Unpaid Principal
Balance
Nonaccrual
Loans
 
 
(in thousands)
Commercial business:
 
 
 
 
 
 
 
 
Secured
 
$
57,504

 
$
69,056

 
$
45,410

 
$
56,865

Unsecured
 
115

 
115

 
50

 
49

Real estate:
 
 
 
 
 
 
 
 
One-to-four family residential
 
1,054

 
1,426

 
785

 
1,182

Commercial & multifamily residential:
 
 
 
 
 
 
 
 
Commercial land
 
3,192

 
3,201

 
2,628

 
2,623

Income property
 
3,980

 
4,264

 
4,284

 
5,410

Owner occupied
 
7,367

 
7,621

 
7,029

 
7,270

Real estate construction:
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
Land and acquisition
 
—

 
—

 
25

 
26

Residential construction
 
1,210

 
1,210

 
1,829

 
1,828

Consumer
 
4,042

 
4,378

 
4,149

 
4,633

Total
 
$
78,464

 
$
91,271

 
$
66,189

 
$
79,886
Analysis of the Aged Loan Portfolio
The following is an aging of the recorded investment of the loan portfolio as of March 31, 2018 and December 31, 2017:
 
 
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, 2018
 
(in thousands)
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
3,189,473

 
$
16,410

 
$
2,872

 
$
—

 
$
19,282

 
$
57,504

 
$
3,266,259

Unsecured
 
119,863

 
50

 
51

 
—

 
101

 
115

 
120,079

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
179,174

 
340

 
—

 
—

 
340

 
1,054

 
180,568

Commercial & multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
283,973

 
2,299

 
—

 
—

 
2,299

 
3,192

 
289,464

Income property
 
1,867,450

 
1,929

 
815

 
—

 
2,744

 
3,980

 
1,874,174

Owner occupied
 
1,570,051

 
10,751

 
2,772

 
—

 
13,523

 
7,367

 
1,590,941

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
5,937

 
318

 
285

 
—

 
603

 
—

 
6,540

Residential construction
 
199,756

 
112

 
—

 
—

 
112

 
1,210

 
201,078

Commercial & multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
295,067

 
11,070

 
—

 
—

 
11,070

 
—

 
306,137

Owner occupied
 
73,016

 
—

 
—

 
—

 
—

 
—

 
73,016

Consumer
 
316,557

 
1,229

 
248

 
—

 
1,477

 
4,042

 
322,076

Total
 
$
8,100,317

 
$
44,508

 
$
7,043

 
$
—

 
$
51,551

 
$
78,464

 
$
8,230,332

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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, 2017
 
(in thousands)
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
3,185,321

 
$
2,530

 
$
2,400

 
$
—

 
$
4,930

 
$
45,410

 
$
3,235,661

Unsecured
 
123,524

 
100

 
501

 
—

 
601

 
50

 
124,175

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
184,256

 
1,111

 
402

 
—

 
1,513

 
785

 
186,554

Commercial & multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
292,680

 
92

 
—

 
581

 
673

 
2,628

 
295,981

Income property
 
1,898,655

 
2,426

 
971

 
—

 
3,397

 
4,284

 
1,906,336

Owner occupied
 
1,590,004

 
2,485

 
468

 
—

 
2,953

 
7,029

 
1,599,986

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
9,882

 
—

 
—

 
—

 
—

 
25

 
9,907

Residential construction
 
187,862

 
—

 
—

 
—

 
—

 
1,829

 
189,691

Commercial & multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
293,028

 
—

 
—

 
—

 
—

 
—

 
293,028

Owner occupied
 
72,443

 
—

 
—

 
—

 
—

 
—

 
72,443

Consumer
 
325,928

 
1,446

 
702

 
—

 
2,148

 
4,149

 
332,225

Total
 
$
8,163,583

 
$
10,190

 
$
5,444

 
$
581

 
$
16,215

 
$
66,189

 
$
8,245,987
Impaired Financing Receivables
The following is an analysis of impaired loans as of March 31, 2018 and December 31, 2017:
 
 
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, 2018
 
(in thousands)
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
3,221,659

 
$
44,600

 
$
13,836

 
$
18,931

 
$
5,657

 
$
30,764

 
$
33,785

Unsecured
 
120,056

 
23

 
23

 
23

 
2

 
—

 
—

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
179,700

 
868

 
428

 
715

 
22

 
440

 
1,017

Commercial & multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
286,613

 
2,851

 
—

 
—

 
—

 
2,851

 
2,860

Income property
 
1,870,614

 
3,560

 
—

 
—

 
—

 
3,560

 
3,623

Owner occupied
 
1,582,385

 
8,556

 
3,399

 
4,821

 
5

 
5,157

 
5,269

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
6,540

 
—

 
—

 
—

 
—

 
—

 
—

Residential construction
 
199,868

 
1,210

 
—

 
—

 
—

 
1,210

 
1,210

Commercial & multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
306,137

 
—

 
—

 
—

 
—

 
—

 
—

Owner occupied
 
68,966

 
4,050

 
—

 
—

 
—

 
4,050

 
4,050

Consumer
 
315,845

 
6,231

 
5,439

 
5,707

 
171

 
792

 
860

Total
 
$
8,158,383

 
$
71,949

 
$
23,125

 
$
30,197

 
$
5,857

 
$
48,824

 
$
52,674

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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, 2017
 
(in thousands)
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
3,195,649

 
$
40,012

 
$
3,808

 
$
3,937

 
$
1,867

 
$
36,204

 
$
42,314

Unsecured
 
124,150

 
25

 
25

 
24

 
3

 
—

 
—

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
185,659

 
895

 
867

 
1,408

 
103

 
28

 
337

Commercial & multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
293,694

 
2,287

 
—

 
—

 
—

 
2,287

 
2,282

Income property
 
1,901,313

 
5,023

 
2,768

 
3,328

 
185

 
2,255

 
2,601

Owner occupied
 
1,591,298

 
8,688

 
77

 
80

 
3

 
8,611

 
10,077

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
9,907

 
—

 
—

 
—

 
—

 
—

 
—

Residential construction
 
188,481

 
1,210

 
—

 
—

 
—

 
1,210

 
1,210

Commercial & multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
293,028

 
—

 
—

 
—

 
—

 
—

 
—

Owner occupied
 
68,393

 
4,050

 
—

 
—

 
—

 
4,050

 
4,050

Consumer
 
325,210

 
7,015

 
5,303

 
5,568

 
199

 
1,712

 
1,864

Total
 
$
8,176,782

 
$
69,205

 
$
12,848

 
$
14,345

 
$
2,360

 
$
56,357

 
$
64,735

The following table provides additional information on impaired loans for the three month periods indicated:
 
 
Three Months Ended March 31,
 
 
2018
 
2017
 
 
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
 
$
42,306

 
$
12

 
$
8,303

 
$
19

Unsecured
 
24

 
—

 
—

 
—

Real estate:
 
 
 
 
 
 
 
 
One-to-four family residential
 
881

 
7

 
521

 
2

Commercial & multifamily residential:
 
 
 
 
 
 
 
 
Commercial land
 
2,569

 
—

 
1,504

 
—

Income property
 
4,292

 
31

 
4,059

 
1

Owner occupied
 
8,622

 
84

 
4,462

 
—

Real estate construction:
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
Land and acquisition
 
—

 
—

 
7

 
—

Residential construction
 
1,210

 
—

 
168

 
—

Commercial & multifamily residential:
 
 
 
 
 
 
 
 
Owner occupied
 
4,050

 
51

 
—

 
—

Consumer
 
6,623

 
54

 
5,370

 
27

Total
 
$
70,577

 
$
239

 
$
24,394

 
$
49
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 months ended March 31, 2018 and 2017:
 
 
Three months ended March 31, 2018
 
Three months ended March 31, 2017
 
 
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
 
1

 
$
450

 
$
450

 
3

 
$
356

 
$
356

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
1

 
891

 
891

 
—

 
—

 
—

Consumer
 
7

 
1,143

 
1,143

 
10

 
1,546

 
1,546

Total
 
9

 
$
2,484

 
$
2,484

 
13

 
$
1,902

 
$
1,902

 
 
 
 
 
 
 
 
 
 
 
 
 
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, 2018 and December 31, 2017:
 
 
March 31, 2018
 
December 31, 2017
 
 
(in thousands)
Commercial business
 
$
14,201

 
$
13,753

Real estate:
 
 
 
 
One-to-four family residential
 
12,738

 
14,610

Commercial and multifamily residential
 
77,400

 
79,211

Total real estate
 
90,138

 
93,821

Real estate construction:
 
 
 
 
One-to-four family residential
 
171

 
177

Commercial and multifamily residential
 
589

 
595

Total real estate construction
 
760

 
772

Consumer
 
11,989

 
12,412

Subtotal of PCI loans
 
117,088

 
120,758

Less:
 
 
 
 
Valuation discount resulting from acquisition accounting
 
7,789

 
8,088

Allowance for loan losses
 
5,665

 
6,907

PCI loans, net of allowance for loan losses
 
$
103,634

 
$
105,763
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, 2018 and 2017:
 
 
Three Months Ended March 31,
 
 
2018
 
2017
 
 
(in thousands)
Balance at beginning of period
 
$
31,176

 
$
45,191

Accretion
 
(2,265
)
 
(4,182
)
Disposals
 
(159
)
 
(158
)
Reclassifications from (to) nonaccretable difference
 
603

 
(2,407
)
Balance at end of period
 
$
29,355

 
$
38,444