FAIR VALUE ACCOUNTING AND MEASUREMENT (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present financial assets and liabilities measured at fair value on a recurring basis and the level within the fair value hierarchy of the fair value measurements for those assets and liabilities as of March 31, 2015 and December 31, 2014 (in thousands):

	March 31, 2015
	Level 1		Level 2		Level 3		Total
Assets:
Securities—available-for-sale
U.S. Government and agency	$	—	$	22,591	$	—	$	22,591
Municipal bonds	—		60,308		—		60,308
Corporate bonds	—		5,041		—		5,041
Mortgage-backed or related securities	—		282,167		—		282,167
Asset-backed securities	—		25,500		—		25,500
	—		395,607		—		395,607
Securities—trading
U.S. Government and agency	—		1,515		—		1,515
Municipal bonds	—		1,432		—		1,432
TPS and TRUP CDOs	—		—		17,456		17,456
Mortgage-backed or related securities	—		17,614		—		17,614
Equity securities and other	—		57		—		57
	—		20,618		17,456		38,074
Derivatives
Interest rate lock commitments	—		745		—		745
Interest rate swaps	—		8,798		—		8,798
	$	—	$	425,768	$	17,456	$	443,224
Liabilities:
Advances from FHLB at fair value	$	—	$	250	$	—	$	250
Junior subordinated debentures net of unamortized deferred issuance costs at fair value	—		—		84,326		84,326
Derivatives
Interest rate sales forward commitments, net	—		354		—		354
Interest rate swaps	—		8,798		—		8,798
	$	—	$	9,402	$	84,326	$	93,728

	December 31, 2014
	Level 1		Level 2		Level 3		Total
Assets:
Securities—available-for-sale
U.S. Government and agency	$	—	$	29,770	$	—	$	29,770
Municipal bonds	—		50,028		—		50,028
Corporate bonds	—		5,018		—		5,018
Mortgage-backed or related securities	—		300,810		—		300,810
Asset-backed securities	—		25,395		—		25,395
	—		411,021		—		411,021
Securities—trading
U.S. Government and agency	—		1,505		—		1,505
Municipal bonds	—		1,440		—		1,440
TPS and TRUP CDOs	—		—		19,118		19,118
Mortgage-backed or related securities	—		18,136		—		18,136
Equity securities and other	—		59		—		59
	—		21,140		19,118		40,258
Derivatives
Interest rate lock commitments	—		317		—		317
Interest rate swaps	—		6,290		—		6,290
	$	—	$	438,768	$	19,118	$	457,886
Liabilities:
Advances from FHLB at fair value	$	—	$	32,250	$	—	$	32,250
Junior subordinated debentures net of unamortized deferred issuance costs at fair value	—		—		78,001		78,001
Derivatives
Interest rate sales forward commitments, net	—		198		—		198
Interest rate swaps	—		6,290		—		6,290
	$	—	$	38,738	$	78,001	$	116,739

Schedule of Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides a reconciliation of the assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the three months ended March 31, 2015 and 2014 (in thousands):

	Three Months Ended
	March 31, 2015
	Level 3 Fair Value Inputs
	TPS and TRUP CDOs			Borrowings—Junior Subordinated Debentures
Beginning balance	$	19,119		$	78,001
Total gains or losses recognized
Assets gains, including OTTI	723			—
Liabilities losses	—			366
Purchases, issuances and settlements including the Siuslaw acqusition	—			5,959
Sales, maturities and paydowns net of discount amortization	(2,386		)	—
Ending balance at March 31, 2015	$	17,456		$	84,326
	Three Months Ended
	March 31, 2014
	Level 3 Fair Value Inputs
	TPS and TRUP CDOs			Borrowings—Junior Subordinated Debentures
Beginning balance	$	35,140		$	73,928
Total gains or losses recognized
Assets gains (losses), including OTTI	(44		)	—
Liabilities losses	—			207
Sales, maturities and paydowns net of discount amortization	(34		)	—
Ending balance at March 31, 2014	$	35,062		$	74,135

Schedule of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

The following tables present financial assets measured at fair value on a non-recurring basis and the level within the fair value hierarchy of the fair value measurements for those assets as of March 31, 2015 and December 31, 2014 (in thousands):

	At or For the Three Months Ended March 31, 2015
	Level 1		Level 2		Level 3		Total		Net Gains/(Losses) Recognized During the Period
Impaired loans	$	—	$	—	$	13,970	$	13,970	$	(649	)
REO	—		—		4,922		4,922		—
	At or For the Year Ended December 31, 2014
	Level 1		Level 2		Level 3		Total		Net Gains/(Losses) Recognized During the Period
Impaired loans	$	—	$	—	$	4,725	$	4,725	$	(512	)
REO	—		—		3,352		3,352		(453		)

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques

The following table provides a description of the valuation technique, unobservable inputs, and qualitative information about the unobservable inputs for the Company's assets and liabilities classified as Level 3 and measured at fair value on a recurring and nonrecurring basis at March 31, 2015 and December 31, 2014:

			Weighted Average Rate
Financial Instruments	Valuation Techniques	Unobservable Inputs	March 31, 2015		December 31, 2014
TPS securities	Discounted cash flows	Discount rate	5.27	%	5.26	%
TRUP CDOs	Discounted cash flows	Discount rate	4.02		3.96
Junior subordinated debentures	Discounted cash flows	Discount rate	5.27		5.26
Impaired loans	Collateral Valuations	Market values	n/a		n/a
REO	Appraisals	Market values	n/a		n/a

Schedule of Fair Value of Financial Instruments, by Balance Sheet Grouping

The carrying value and estimated fair value of financial instruments are as follows (in thousands):

	March 31, 2015				December 31, 2014
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Assets:
Cash and due from banks	$	298,515	$	298,515	$	126,072	$	126,072
Securities—trading	38,074		38,074		40,258		40,258
Securities—available-for-sale	395,607		395,607		411,021		411,021
Securities—held-to-maturity	133,649		140,499		131,258		137,608
Loans receivable held for sale	9,419		9,847		2,786		2,807
Loans receivable	4,105,399		4,003,556		3,831,034		3,722,179
FHLB stock	25,544		25,544		27,036		27,036
Bank-owned life insurance	71,290		71,290		63,759		63,759
Mortgage servicing rights	11,709		15,425		9,030		12,987
Derivatives:
Interest rate lock commitments	745		745		317		317
Interest rate swaps	8,798		8,798		6,290		6,290
Liabilities:
Demand, interest checking and money market accounts	2,561,544		2,332,134		2,227,292		1,998,649
Regular savings	979,824		863,499		901,142		784,006
Certificates of deposit	778,049		772,660		770,516		764,549
FHLB advances at fair value	250		250		32,250		32,250
Junior subordinated debentures at fair value	84,326		84,326		78,001		78,001
Other borrowings	97,020		97,020		77,185		77,185
Derivatives:
Interest rate forward sales commitments	354		354		198		198
Interest rate swaps	8,798		8,798		6,290		6,290