Loans (Tables)

6 Months Ended

Jun. 30, 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):

	June 30, 2018									December 31, 2017
	Loans, excluding PCI loans			PCI Loans			Total			Loans, excluding PCI loans			PCI Loans			Total
	(in thousands)
Commercial business	$	3,538,492		$	12,258		$	3,550,750		$	3,377,324		$	12,628		$	3,389,952
Real estate:
One-to-four family residential	180,522			10,200			190,722			188,396			12,395			200,791
Commercial and multifamily residential	3,758,207			68,299			3,826,506			3,825,739			75,594			3,901,333
Total real estate	3,938,729			78,499			4,017,228			4,014,135			87,989			4,102,124
Real estate construction:
One-to-four family residential	206,181			165			206,346			200,518			177			200,695
Commercial and multifamily residential	387,951			571			388,522			371,931			607			372,538
Total real estate construction	594,132			736			594,868			572,449			784			573,233
Consumer	326,402			10,289			336,691			334,190			11,269			345,459
Less: Net unearned income	(45,430		)	—			(45,430		)	(52,111		)	—			(52,111		)
Total loans, net of unearned income	8,352,325			101,782			8,454,107			8,245,987			112,670			8,358,657
Less: Allowance for loan and lease losses	(75,368		)	(4,782		)	(80,150		)	(68,739		)	(6,907		)	(75,646		)
Total loans, net	$	8,276,957		$	97,000		$	8,373,957		$	8,177,248		$	105,763		$	8,283,011
Loans held for sale	$	6,773		$	—		$	6,773		$	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 June 30, 2018 and December 31, 2017:

	June 30, 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	$	52,006	$	68,552	$	45,410	$	56,865
Unsecured	30		30		50		49
Real estate:
One-to-four family residential	976		1,356		785		1,182
Commercial & multifamily residential:
Commercial land	2,603		2,618		2,628		2,623
Income property	1,552		1,808		4,284		5,410
Owner occupied	6,963		7,290		7,029		7,270
Real estate construction:
One-to-four family residential:
Land and acquisition	318		318		25		26
Residential construction	71		71		1,829		1,828
Consumer	4,985		5,368		4,149		4,633
Total	$	69,504	$	87,411	$	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 June 30, 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
June 30, 2018	(in thousands)
Commercial business:
Secured	$	3,342,422	$	9,542	$	3,449	$	—	$	12,991	$	52,006	$	3,407,419
Unsecured	114,190		1,622		492		—		2,114		30		116,334
Real estate:
One-to-four family residential	176,917		746		175		—		921		976		178,814
Commercial & multifamily residential:
Commercial land	279,067		—		—		—		—		2,603		281,670
Income property	1,848,626		1,170		102		—		1,272		1,552		1,851,450
Owner occupied	1,589,500		6,695		584		—		7,279		6,963		1,603,742
Real estate construction:
One-to-four family residential:
Land and acquisition	6,252		—		—		—		—		318		6,570
Residential construction	197,359		1,243		—		—		1,243		71		198,673
Commercial & multifamily residential:
Income property	297,215		5,586		—		—		5,586		—		302,801
Owner occupied	79,694		—		—		—		—		—		79,694
Consumer	317,985		1,339		849		—		2,188		4,985		325,158
Total	$	8,249,227	$	27,943	$	5,651	$	—	$	33,594	$	69,504	$	8,352,325
	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 June 30, 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
June 30, 2018	(in thousands)
Commercial business:
Secured	$	3,360,586	$	46,833	$	2,731	$	3,120	$	67	$	44,102	$	53,050
Unsecured	115,468		866		—		—		—		866		4,906
Real estate:
One-to-four family residential	178,121		693		346		742		8		347		809
Commercial & multifamily residential:
Commercial land	279,408		2,262		—		—		—		2,262		2,277
Income property	1,849,318		2,132		—		—		—		2,132		2,195
Owner occupied	1,594,762		8,980		3,299		4,717		86		5,681		5,858
Real estate construction:
One-to-four family residential:
Land and acquisition	6,570		—		—		—		—		—		—
Residential construction	198,673		—		—		—		—		—		—
Commercial & multifamily residential:
Income property	302,801		—		—		—		—		—		—
Owner occupied	75,644		4,050		—		—		—		4,050		4,050
Consumer	318,608		6,550		5,302		5,590		95		1,248		1,319
Total	$	8,279,959	$	72,366	$	11,678	$	14,169	$	256	$	60,688	$	74,464
	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 and six month periods indicated:

	Three Months Ended June 30,								Six Months Ended June 30,
	2018				2017				2018				2017
	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	$	45,716	$	85	$	15,590	$	50	$	43,815	$	97	$	13,332	$	69
Unsecured	444		1		—		—		304		1		—		—
Real estate:
One-to-four family residential	780		12		648		21		818		18		608		22
Commercial & multifamily residential:
Commercial land	2,557		—		2,549		—		2,467		—		1,936		—
Income property	2,846		32		3,676		7		3,572		62		3,925		6
Owner occupied	8,768		124		3,453		192		8,741		209		4,107		192
Real estate construction:
One-to-four family residential:
Land and acquisition	—		—		—		—		—		—		5		—
Residential construction	605		—		—		—		807		—		112		—
Commercial & multifamily residential:
Owner occupied	4,050		51		—		—		4,050		102		—		—
Consumer	6,391		34		5,584		31		6,599		77		5,461		57
Total	$	72,157	$	339	$	31,500	$	301	$	71,173	$	566	$	29,486	$	346

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, 2018 and 2017:

	Three months ended June 30, 2018					Three months ended June 30, 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	7	$	2,644	$	2,644	2	$	1,422	$	1,422
Real estate:
One-to-four family residential	—	—		—		1	382		382
Consumer	8	1,274		1,274		8	815		815
Total	15	$	3,918	$	3,918	11	$	2,619	$	2,619

	Six months ended June 30, 2018					Six months ended June 30, 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	8	$	3,094	$	3,094	5	$	1,778	$	1,778
Real estate:
One-to-four family residential	—	—		—		1	382		382
Commercial and multifamily residential:
Income property	1	891		891		—	—		—
Consumer	15	2,417		2,417		18	2,361		2,361
Total	24	$	6,402	$	6,402	24	$	4,521	$	4,521

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, 2018 and December 31, 2017:

	June 30, 2018		December 31, 2017
	(in thousands)
Commercial business	$	12,921	$	13,753
Real estate:
One-to-four family residential	12,202		14,610
Commercial and multifamily residential	72,019		79,211
Total real estate	84,221		93,821
Real estate construction:
One-to-four family residential	166		177
Commercial and multifamily residential	557		595
Total real estate construction	723		772
Consumer	11,310		12,412
Subtotal of PCI loans	109,175		120,758
Less:
Valuation discount resulting from acquisition accounting	7,393		8,088
Allowance for loan losses	4,782		6,907
PCI loans, net of allowance for loan losses	$	97,000	$	105,763

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, 2018 and 2017:

	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
	(in thousands)
Balance at beginning of period	$	29,355		$	38,444		$	31,176		$	45,191
Accretion	(1,937		)	(2,882		)	(4,202		)	(7,064		)
Disposals	(7		)	—			(166		)	(158		)
Reclassifications from (to) nonaccretable difference	(2,061		)	144			(1,458		)	(2,263		)
Balance at end of period	$	25,350		$	35,706		$	25,350		$	35,706