LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Tables)

3 Months Ended

Mar. 31, 2015

LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES

Schedule of the composition of Non-PCI and PCI loans

	March 31, 2015						December 31, 2014
($ in thousands)	Non-PCI Loans		PCI Loans (1)		Total (1)		Non-PCI Loans		PCI Loans (1)		Total (1)
CRE:
Income Producing	$	5,802,931	$	652,246	$	6,455,177	$	5,568,046	$	688,013	$	6,256,059
Construction	358,118		9,342		367,460		319,843		12,444		332,287
Land	209,992		12,792		222,784		214,327		16,840		231,167
Total CRE	6,371,041		674,380		7,045,421		6,102,216		717,297		6,819,513
C&I:
Commercial business	6,799,149		72,301		6,871,450		7,097,853		83,336		7,181,189
Trade finance	844,090		5,224		849,314		889,728		6,284		896,012
Total C&I	7,643,239		77,525		7,720,764		7,987,581		89,620		8,077,201
Residential:
Single-family	3,298,775		214,019		3,512,794		3,647,262		219,519		3,866,781
Multifamily	1,240,359		244,066		1,484,425		1,184,017		265,891		1,449,908
Total residential	4,539,134		458,085		4,997,219		4,831,279		485,410		5,316,689
Consumer	1,584,168		27,996		1,612,164		1,483,956		29,786		1,513,742
Total loans	$	20,137,582	$	1,237,986	$	21,375,568	$	20,405,032	$	1,322,113	$	21,727,145
Unearned fees, premiums, and discounts, net	(899)		—		(899)		2,804		—		2,804
Allowance for loan losses	(257,095)		(643)		(257,738)		(260,965)		(714)		(261,679)
Loans, net	$	19,879,588	$	1,237,343	$	21,116,931	$	20,146,871	$	1,321,399	$	21,468,270

(1) Loans net of ASC 310-30 discount.

Summary of credit risk rating by portfolio segment

($ in thousands)	Pass/Watch		Special Mention		Substandard		Doubtful		Loss		Total Non-PCI Loans
March 31, 2015
CRE:
Income producing	$	5,488,698	$	56,245	$	257,988	$	—	$	—	$	5,802,931
Construction	353,799		703		3,616		—		—		358,118
Land	187,364		5,701		16,927		—		—		209,992
C&I:
Commercial business	6,573,081		93,302		132,286		426		54		6,799,149
Trade finance	788,864		19,726		35,500		—		—		844,090
Residential:
Single-family	3,277,085		3,595		18,095		—		—		3,298,775
Multifamily	1,162,798		4,906		72,655		—		—		1,240,359
Consumer	1,581,116		336		2,716		—		—		1,584,168
Total	$	19,412,805	$	184,514	$	539,783	$	426	$	54	$	20,137,582
($ in thousands)	Pass/Watch		Special Mention		Substandard		Doubtful		Loss		Total Non-PCI Loans
December 31, 2014
CRE:
Income producing	$	5,243,640	$	54,673	$	269,733	$	—	$	—	$	5,568,046
Construction	310,259		11		9,573		—		—		319,843
Land	185,220		5,701		23,406		—		—		214,327
C&I:
Commercial business	6,836,914		130,319		130,032		533		55		7,097,853
Trade finance	845,889		13,031		30,808		—		—		889,728
Residential:
Single-family	3,627,491		3,143		16,628		—		—		3,647,262
Multifamily	1,095,982		5,124		82,911		—		—		1,184,017
Consumer	1,480,208		1,005		2,743		—		—		1,483,956
Total	$	19,625,603	$	213,007	$	565,834	$	533	$	55	$	20,405,032

($ in thousands)	Pass/Watch		Special Mention		Substandard		Doubtful		Total PCI Loans
March 31, 2015
CRE:
Income producing	$	517,827	$	6,164	$	128,255	$	—	$	652,246
Construction	585		1,739		7,018		—		9,342
Land	5,080		5,433		2,279		—		12,792
C&I:
Commercial business	62,858		997		8,446		—		72,301
Trade finance	3,535		—		1,689		—		5,224
Residential:
Single-family	208,238		745		5,036		—		214,019
Multifamily	211,060		—		33,006		—		244,066
Consumer	27,330		115		551		—		27,996
Total (1)	$	1,036,513	$	15,193	$	186,280	$	—	$	1,237,986

(1) Loans net of ASC 310-30 discount.

($ in thousands)	Pass/Watch		Special Mention		Substandard		Doubtful		Total PCI Loans
December 31, 2014
CRE:
Income producing	$	534,015	$	9,960	$	144,038	$	—	$	688,013
Construction	589		1,744		10,111		—		12,444
Land	7,012		5,391		4,437		—		16,840
C&I:
Commercial business	70,586		1,103		11,647		—		83,336
Trade finance	4,620		—		1,664		—		6,284
Residential:
Single-family	213,829		374		5,316		—		219,519
Multifamily	230,049		—		35,842		—		265,891
Consumer	29,026		116		644		—		29,786
Total (1)	$	1,089,726	$	18,688	$	213,699	$	—	$	1,322,113

(1) Loans net of ASC 310-30 discount.

Schedule of aging analysis on non-PCI loans

($ in thousands)	Accruing Loans 30-59 Days Past Due		Accruing Loans 60-89 Days Past Due		Total Accruing Past Due Loans		Nonaccrual Loans Less Than 90 Days Past Due		Nonaccrual Loans 90 or More Days Past Due		Total Nonaccrual Loans		Current Accruing Loans		Total Non-PCI Loans
March 31, 2015
CRE:
Income producing	$	9,699	$	1,860	$	11,559	$	18,739	$	11,011	$	29,750	$	5,761,622	$	5,802,931
Construction	—		—		—		14		917		931		357,187		358,118
Land	—		—		—		214		2,386		2,600		207,392		209,992
C&I:
Commercial business	11,227		902		12,129		5,988		25,436		31,424		6,755,596		6,799,149
Trade finance	—		600		600		37		—		37		843,453		844,090
Residential:
Single-family	7,239		2,402		9,641		4,731		4,406		9,137		3,279,997		3,298,775
Multifamily	2,611		376		2,987		12,216		1,145		13,361		1,224,011		1,240,359
Consumer	883		2		885		166		374		540		1,582,743		1,584,168
Total	$	31,659	$	6,142	$	37,801	$	42,105	$	45,675	$	87,780	$	20,012,001	$	20,137,582
Unearned fees, premiums and discounts, net															(899)
Total recorded investment in non-PCI loans															$	20,136,683
($ in thousands)	Accruing Loans 30-59 Days Past Due		Accruing Loans 60-89 Days Past Due		Total Accruing Past Due Loans		Nonaccrual Loans Less Than 90 Days Past Due		Nonaccrual Loans 90 or More Days Past Due		Total Nonaccrual Loans		Current Accruing Loans		Total Non-PCI Loans
December 31, 2014
CRE:
Income producing	$	14,171	$	3,593	$	17,764	$	19,348	$	9,165	$	28,513	$	5,521,769	$	5,568,046
Construction	—		—		—		15		6,898		6,913		312,930		319,843
Land	—		—		—		221		2,502		2,723		211,604		214,327
C&I:
Commercial business	3,187		4,361		7,548		6,623		21,813		28,436		7,061,869		7,097,853
Trade finance	—		—		—		73		292		365		889,363		889,728
Residential:
Single-family	6,381		1,294		7,675		2,861		5,764		8,625		3,630,962		3,647,262
Multifamily	4,425		507		4,932		12,460		8,359		20,819		1,158,266		1,184,017
Consumer	2,154		162		2,316		169		3,699		3,868		1,477,772		1,483,956
Total	$	30,318	$	9,917	$	40,235	$	41,770	$	58,492	$	100,262	$	20,264,535	$	20,405,032
Unearned fees, premiums and discounts, net															2,804
Total recorded investment in non-PCI loans															$	20,407,836

Summary of additions to non-PCI troubled debt restructurings

	Loans Modified as TDRs During the Three Months Ended March 31,
	2015							2014
($ in thousands)	Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment (1)		Financial Impact (2)		Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment (1)		Financial Impact (2)
CRE:
Income producing	1	$	828	$	833	$	—	—	$	—	$	—	$	—
C&I:
Commercial business	1	$	167	$	164	$	(32)	5	$	1,721	$	1,691	$	1,248
Residential:
Single-family	1	$	281	$	281	$	(2)	3	$	5,823	$	5,804	$	—

(1) Includes subsequent payments after modification and reflects the balance as of March 31, 2015 and 2014.

(2) The financial impact includes charge-offs and specific reserves recorded at modification date.

Summary of non-PCI impaired loans

($ in thousands)	Unpaid Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance
March 31, 2015
CRE:
Income producing	$	50,389	$	28,186	$	15,001	$	43,187	$	1,399
Construction	916		916		—		916		—
Land	8,234		2,826		543		3,369		175
C&I:
Commercial business	43,289		10,815		28,186		39,001		17,886
Trade finance	223		—		216		216		20
Residential:
Single-family	16,767		7,007		8,404		15,411		413
Multifamily	29,262		20,200		6,594		26,794		279
Consumer	1,258		1,150		108		1,258		1
Total	$	150,338	$	71,100	$	59,052	$	130,152	$	20,173

($ in thousands)	Unpaid Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance
December 31, 2014
CRE:
Income producing	$	57,805	$	34,399	$	15,646	$	50,045	$	1,581
Construction	6,888		6,888		—		6,888		—
Land	13,291		2,838		5,622		8,460		1,906
C&I:
Commercial business	42,396		10,552		25,717		36,269		15,174
Trade finance	280		—		274		274		28
Residential:
Single-family	17,838		5,137		11,398		16,535		461
Multifamily	37,624		21,500		12,890		34,390		313
Consumer	1,259		1,151		108		1,259		1
Total	$	177,381	$	82,465	$	71,655	$	154,120	$	19,464

Schedule of average recorded investment and amount of interest income on non-PCI impaired loans

	Three Months Ended March 31,
	2015				2014
($ in thousands)	Average Recorded Investment		Recognized Interest Income (1)		Average Recorded Investment		Recognized Interest Income (1)
CRE:
Income producing	$	44,195	$	141	$	67,153	$	325
Construction	3,902		—		6,888		—
Land	3,438		10		12,227		121
C&I:
Commercial business	39,310		202		43,726		207
Trade finance	245		3		637		4
Residential:
Single-family	15,423		68		17,100		50
Multifamily	26,987		203		36,369		205
Consumer	1,258		12		2,835		1
Total impaired non-PCI loans	$	134,758	$	639	$	186,935	$	913

(1) Includes interest recognized on accruing non-PCI TDRs. Interest payments received on nonaccrual non-PCI loans are generally reflected as a reduction of principal and not as interest income.

Summary of the activity in the allowance for loan losses

	Non-PCI Loans
($ in thousands)	CRE			C&I		Residential		Consumer		Unallocated			Total		PCI Loans			Total
Three Months Ended March 31, 2015
Beginning balance	$		72,263	$	134,598	$	43,856	$	10,248	$	—		$	260,965	$	714		$		261,679
(Reversal of) provision for loans losses	(2,333)			5,378		(1,571)		664		2,920			5,058		(71)			4,987
Provision allocation for unfunded loan commitments and letters of credit	—			—		—		—		(2,920)			(2,920)		—			(2,920)
Charge-offs	(1,002)			(6,589)		(746)		(463)		—			(8,800)		—			(8,800)
Recoveries	812			527		1,451		2		—			2,792		—			2,792
Net (charge-offs)/recoveries	(190)			(6,062)		705		(461)		—			(6,008)		—			(6,008)
Ending balance	$		69,740	$	133,914	$	42,990	$	10,451	$	—		$	257,095	$	643		$		257,738
Ending balance allocated to:
Individually evaluated for impairment	$		1,574	$	17,906	$	692	$	1	$	—		$	20,173	$	—		$		20,173
Collectively evaluated for impairment	68,166			116,008		42,298		10,450		—			236,922		—			236,922
Acquired with deteriorated credit quality	—			—		—		—		—			—		643			643
Ending balance	$		69,740	$	133,914	$	42,990	$	10,451	$	—		$	257,095	$	643		$		257,738
	Non-PCI Loans
($ in thousands)	CRE			C&I		Residential		Consumer		Unallocated			Total		PCI Loans			Total
Three Months Ended March 31, 2014
Beginning balance	$	70,154		$	115,184	$	50,716	$	11,352	$		—	$	247,406	$		2,269	$	249,675
(Reversal of) provision for loans losses	(7,036)			16,592		(2,575)		(196)		215			7,000		(67)			6,933
Provision allocation for unfunded loan commitments and letters of credit	—			—		—		—		(215)			(215)		—			(215)
Charge-offs	(319)			(5,531)		(283)		(3)		—			(6,136)		—			(6,136)
Recoveries	828			911		137		3		—			1,879		—			1,879
Net recoveries/(charge-offs)	509			(4,620)		(146)		—		—			(4,257)		—			(4,257)
Ending balance	$	63,627		$	127,156	$	47,995	$	11,156	$		—	$	249,934	$		2,202	$	252,136
Ending balance allocated to:
Individually evaluated for impairment	$	8,375		$	16,490	$	1,853	$	—	$		—	$	26,718	$		—	$	26,718
Collectively evaluated for impairment	55,252			110,666		46,142		11,156		—			223,216		—			223,216
Acquired with deteriorated credit quality	—			—		—		—		—			—		2,202			2,202
Ending balance	$	63,627		$	127,156	$	47,995	$	11,156	$		—	$	249,934	$		2,202	$	252,136

Recorded investment in total loans receivable by portfolio segment, disaggregated by impairment methodology

($ in thousands)	CRE		C&I		Residential		Consumer		Total
As of March 31, 2015
Individually evaluated for impairment	$	47,472	$	39,217	$	42,205	$	1,258	$	130,152
Collectively evaluated for impairment	6,323,569		7,604,022		4,496,929		1,582,910		20,007,430
Acquired with deteriorated credit quality (1)	674,380		77,525		458,085		27,996		1,237,986
Ending Balance	$	7,045,421	$	7,720,764	$	4,997,219	$	1,612,164	$	21,375,568

(1) Loans net of ASC 310-30 discount.

($ in thousands)	CRE		C&I		Residential		Consumer		Total
As of December 31, 2014
Individually evaluated for impairment	$	65,393	$	36,543	$	50,925	$	1,259	$	154,120
Collectively evaluated for impairment	6,036,823		7,951,038		4,780,354		1,482,697		20,250,912
Acquired with deteriorated credit quality (1)	717,297		89,620		485,410		29,786		1,322,113
Ending Balance	$	6,819,513	$	8,077,201	$	5,316,689	$	1,513,742	$	21,727,145

(1) Loans net of ASC 310-30 discount.

Summary of changes in the accretable yield for the PCI loans

	Three Months Ended March 31,
($ in thousands)	2015		2014
Beginning balance	$	311,688	$	461,545
Additions	—		6,745
Accretion	(30,569)		(61,946		)
Changes in expected cash flows	12,036		24,112
Ending balance	$	293,155	$	430,456

Summary of the FDIC indemnification asset/net payable to the FDIC

	Three Months Ended  March 31,
($ in thousands)	2015		2014
Beginning balance	$	(96,106)	$	74,708
Amortization	(1,542)		(28,490		)
Reductions (1)	(649)		(11,842		)
Estimate of FDIC repayment (2)	(3,114)		(6,824		)
Ending balance	$	(101,411)	$	27,552

(1) Reductions relate to charge-offs, partial prepayments, loan payoffs and loan sales which result in a corresponding reduction of the indemnification asset.

(2) This represents the change in the calculated estimate the Company will be required to pay the FDIC at the end of the FDIC shared-loss agreements, due to lower thresholds of losses.