NON-COVERED LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)

3 Months Ended

Mar. 31, 2012

NON-COVERED LOANS AND ALLOWANCE FOR LOAN LOSSES

Summary of loans receivable, excluding covered loans

	March 31,			December 31,
	2012			2011
	(In thousands)
Residential:
Single-family	$	1,953,123		$	1,796,635
Multifamily	916,753			933,168
Total residential	2,869,876			2,729,803
Commercial Real Estate (“CRE”):
Income producing	3,454,641			3,487,866
Construction	152,579			171,410
Land	169,654			173,089
Total CRE	3,776,874			3,832,365
Commercial and Industrial (“C&I”):
Commercial business	2,785,971			2,655,917
Trade finance	452,634			486,555
Total C&I	3,238,605			3,142,472
Consumer:
Student loans	341,966			306,325
Other consumer	270,792			277,461
Total consumer	612,758			583,786
Total gross loans receivable, excluding covered loans	10,498,113			10,288,426
Unearned fees, premiums, and discounts, net	(19,034		)	(16,762		)
Allowance for loan losses, excluding covered loans	(214,253		)	(209,876		)
Loans receivable, excluding covered loans, net	$	10,264,826		$	10,061,788

Summary of non-covered loans by credit quality

			Special
	Pass/Watch		Mention		Substandard		Doubtful		Total
	(In thousands)
March 31, 2012
Residential:
Single-family	$	1,926,705	$	10,905	$	15,513	$	—	$	1,953,123
Multifamily	798,348		23,930		94,475		—		916,753
CRE:
Income producing	3,204,450		43,052		207,139		—		3,454,641
Construction	110,094		—		42,485		—		152,579
Land	123,089		7,909		38,656		—		169,654
C&I:
Commercial business	2,621,289		81,050		83,632		—		2,785,971
Trade finance	435,020		6,168		11,446		—		452,634
Consumer:
Student loans	341,134		50		782		—		341,966
Other consumer	266,379		170		4,243		—		270,792
Total	$	9,826,508	$	173,234	$	498,371	$	—	$	10,498,113
			Special
	Pass/Watch		Mention		Substandard		Doubtful		Total
	(In thousands)
December 31, 2011
Residential:
Single-family	$	1,768,149	$	11,239	$	17,247	$	—	$	1,796,635
Multifamily	810,458		25,531		97,179		—		933,168
CRE:
Income producing	3,211,386		63,066		213,414		—		3,487,866
Construction	109,184		—		62,226		—		171,410
Land	125,534		7,954		39,601		—		173,089
C&I:
Commercial business	2,492,904		62,409		100,357		247		2,655,917
Trade finance	467,822		7,161		11,572		—		486,555
Consumer:
Student loans	305,880		188		257		—		306,325
Other consumer	273,692		—		3,769		—		277,461
Total	$	9,565,009	$	177,548	$	545,622	$	247	$	10,288,426

Age analysis of nonaccrual and past due non-covered loans and loans held for sale

	Accruing		Accruing		Total		Nonaccrual		Nonaccrual		Total
	Loans		Loans		Accruing		Loans Less		Loans		Nonaccrual
	30-59 Days		60-89 Days		Past Due		Than 90 Days		90 or More		Past Due		Current
	Past Due		Past Due		Loans		Past Due		Days Past Due		Loans		Loans		Total
	(In thousands)
March 31, 2012
Residential:
Single-family	$	3,786	$	216	$	4,002	$	—	$	3,735	$	3,735	$	1,945,386	$	1,953,123
Multifamily	4,281		4,849		9,130		10,399		8,067		18,466		889,157		916,753
CRE:
Income producing	14,696		2,734		17,430		3,450		29,962		33,412		3,403,799		3,454,641
Construction	—		—		—		—		25,832		25,832		126,747		152,579
Land	12,750		579		13,329		530		8,477		9,007		147,318		169,654
C&I:
Commercial business	14,692		543		15,235		4,082		6,806		10,888		2,759,848		2,785,971
Trade finance	—		—		—		—		2,042		2,042		450,592		452,634
Consumer:
Student loans	157		50		207		—		782		782		340,977		341,966
Other consumer	1,246		170		1,416		—		2,392		2,392		266,984		270,792
Loans held for sale	—		—		—		—		14,242		14,242		266,588		280,830
Total	$	51,608	$	9,141	$	60,749	$	18,461	$	102,337	$	120,798	$	10,597,396	10,778,943
Unearned fees, premiums and discounts, net															(19,034		)
Total recorded investment in non-covered loans and loans held for sale															$	10,759,909
	Accruing		Accruing		Total		Nonaccrual		Nonaccrual		Total
	Loans		Loans		Accruing		Loans Less		Loans		Nonaccrual
	30-59 Days		60-89 Days		Past Due		Than 90 Days		90 or More		Past Due		Current
	Past Due		Past Due		Loans		Past Due		Days Past Due		Loans		Loans		Total
	(In thousands)
December 31, 2011
Residential:
Single-family	$	6,991	$	1,198	$	8,189	$	—	$	3,569	$	3,569	$	1,784,877	$	1,796,635
Multifamily	6,366		745		7,111		6,889		11,306		18,195		907,862		933,168
CRE:
Income producing	18,179		1,549		19,728		6,885		25,690		32,575		3,435,563		3,487,866
Construction	—		—		—		26,482		14,688		41,170		130,240		171,410
Land	—		573		573		1,136		9,589		10,725		161,791		173,089
C&I:
Commercial business	342		2,957		3,299		4,394		6,843		11,237		2,641,381		2,655,917
Trade finance	—		—		—		—		—		—		486,555		486,555
Consumer:
Student loans	109		188		297		—		257		257		305,771		306,325
Other consumer	1,130		—		1,130		—		2,249		2,249		274,082		277,461
Loans held for sale	—		—		—		—		25,655		25,655		252,948		278,603
Total	$	33,117	$	7,210	$	40,327	$	45,786	$	99,846	$	145,632	$	10,381,070	10,567,029
Unearned fees, premiums and discounts, net															(16,762		)
Total recorded investment in non-covered loans and loans held for sale															$	10,550,267

Summary of interest income foregone on nonaccrual loans

	For the Three Months Ended
	March 31,
	2012			2011
	(In thousands)
Interest income that would have been recognized had nonaccrual loans performed in accordance with their original terms	$	1,730		$	2,765
Less: Interest income recognized on nonaccrual loans on a cash basis	(701		)	(807		)
Interest income foregone on nonaccrual loans	$	1,029		$	1,958

Loans modified as troubled debt restructurings

	Loans Modified as TDRs During the
	Three Months Ended March 31, 2012
		Pre-Modification		Post-Modification
	Number	Outstanding		Outstanding
	of	Recorded		Recorded		Financial
	Contracts	Investment		Investment (1)		Impact (2)
	(Dollars in thousands)
Residential:
Single-family	1	$	302	$	206	$	95
Multifamily	1	$	399	$	390	$	—
CRE:
Income producing	4	$	4,103	$	3,683	$	561
Construction	—	$	—	$	—	$	—
Land	1	$	432	$	70	$	77
C&I:
Commercial business	6	$	2,525	$	2,489	$	297
Trade finance	—	$	—	$	—	$	—
Consumer:
Student loans	—	$	—	$	—	$	—
Other consumer	—	$	—	$	—	$	—

(1)        Includes subsequent payments after modification and reflects the balance as of March 31, 2012.

(2)        The financial impact includes chargeoffs and specific reserves recorded at modification date.

Troubled debt restructurings that subsequently defaulted

	Loans Modified as TDRs during the Prior 12
	Months, that Subsequently Defaulted During the
	Three Months Ended March 31, 2012
	Number of	Recorded
	Contracts	Investment
	(Dollars in thousands)
Residential:
Single-family	—	$	—
Multifamily	2	$	1,109
CRE:
Income producing	—	$	—
Construction	1	$	1,509
Land	—	$	—
C&I:
Commercial business	2	$	227
Trade finance	—	$	—
Consumer:
Student loans	—	$	—
Other consumer	—	$	—

Summary of impaired non-covered loans, including interest income recognized

											For the three months
			Recorded		Recorded						ended March 31, 2012
	Unpaid		Investment		Investment		Total				Average		Interest
	Principal		With No		With		Recorded		Related		Recorded		Income
	Balance		Allowance		Allowance		Investment		Allowance		Investment		Recognized (1)
							(In thousands)
As of and for the three months ended March 31, 2012
Residential:
Single-family	$	5,428	$	4,571	$	—	$	4,571	$	—	$	5,186	$	—
Multifamily	26,651		22,016		2,025		24,041		683		24,441		107
CRE:
Income producing	51,633		37,275		5,274		42,549		1,050		44,072		255
Construction	34,819		27,581		472		28,053		220		28,447		153
Land	19,527		9,001		8,139		17,140		2,030		17,486		41
C&I:
Commercial business	17,861		10,494		2,790		13,284		1,969		13,999		145
Trade finance	2,042		2,042		—		2,042		—		2,083		—
Consumer:
Student loans	782		782		—		782		—		782		—
Other consumer	2,449		2,392		—		2,392		—		2,418		—
Total	$	161,192	$	116,154	$	18,700	$	134,854	$	5,952	$	138,914	$	701

											For the year
			Recorded		Recorded						ended December 31, 2011
	Unpaid		Investment		Investment		Total				Average		Interest
	Principal		With No		With		Recorded		Related		Recorded		Income
	Balance		Allowance		Allowance		Investment		Allowance		Investment		Recognized (1)
							(In thousands)
As of and for the year ended December 31, 2011
Residential:
Single-family	$	10,248	$	6,578	$	2,535	$	9,113	$	1,131	$	9,408	$	65
Multifamily	37,450		28,272		3,520		31,792		1,124		35,855		473
CRE:
Income producing	69,664		55,701		7,941		63,642		1,187		68,087		1,030
Construction	75,714		45,413		1,067		46,480		815		64,398		1,099
Land	40,615		25,806		8,692		34,498		3,949		36,002		341
C&I:
Commercial business	38,857		20,772		6,650		27,422		4,835		32,033		484
Trade finance	4,127		4,127		—		4,127		—		4,127		—
Consumer:
Student loans	257		257		—		257		—		257		—
Other consumer	2,249		2,249		—		2,249		—		2,251		27
Total	$	279,181	$	189,175	$	30,405	$	219,580	$	13,041	$	252,418	$	3,519

(1)Excludes interest from performing TDRs.

Detail of activity in allowance for loan losses, for both covered and non-covered loans, by portfolio segment

													Covered Loans
													Subject to
													Allowance for
	Residential			CRE			C&I			Consumer			Loan Losses (1)		Unallocated			Total
	(In thousands)
Three months ended March 31, 2012
Beginning balance	$	52,180		$	66,457		$	87,020		$	4,219		$	6,647	$	—		$	216,523
Provision for loan losses	1,103			12,465			1,315			(182		)	1,621		1,778			18,100
Allowance for unfunded loan commitments
and letters of credit	—			—			—			—			—		(1,778		)	(1,778		)
Charge-offs	(3,031		)	(10,707		)	(2,887		)	(163		)	—		—			(16,788		)
Recoveries	941			2,775			2,665			83			—		—			6,464
Net charge-offs	(2,090		)	(7,932		)	(222		)	(80		)	—		—			(10,324		)
Ending balance	$	51,193		$	70,990		$	88,113		$	3,957		$	8,268	$	—		$	222,521
Ending balance allocated to:
Loans individually evaluated for impairment	$	683		$	3,300		$	1,969		$	—		$	—	$	—		$	5,952
Loans collectively evaluated for impairment	50,510			67,690			86,144			3,957			8,268		—			216,569
Loans acquired with deteriorated credit quality(2)	—			—			—			—			—		—			—
Ending balance	$	51,193		$	70,990		$	88,113		$	3,957		$	8,268	$	—		$	222,521

													Covered Loans
													Subject to
													Allowance for
	Residential			CRE			C&I			Consumer			Loan Losses (1)		Unallocated			Total
	(In thousands)
Year ended December 31, 2011
Beginning balance	$	49,491		$	117,752		$	59,737		$	3,428		$	4,225	$	—		$	234,633
Provision for loan losses	15,416			22,817			50,848			2,455			2,422		1,048			95,006
Allowance for unfunded loan commitments
and letters of credit	—			—			—			—			—		(1,048		)	(1,048		)
Charge-offs	(13,323		)	(78,803		)	(30,606		)	(1,959		)	—		—			(124,691		)
Recoveries	596			4,691			7,041			295			—		—			12,623
Net charge-offs	(12,727		)	(74,112		)	(23,565		)	(1,664		)	—		—			(112,068		)
Ending balance	$	52,180		$	66,457		$	87,020		$	4,219		$	6,647	$	—		$	216,523
Ending balance allocated to:
Loans individually evaluated for impairment	$	2,255		$	5,951		$	4,835		$	—		$	—	$	—		$	13,041
Loans collectively evaluated for impairment	49,925			60,506			82,185			4,219			6,647		—			203,482
Loans acquired with deteriorated credit quality (2)	—			—			—			—			—		—			—
Ending balance	$	52,180		$	66,457		$	87,020		$	4,219		$	6,647	$	—		$	216,523

(1)This allowance is related to drawdowns on commitments that were in existence as of the acquisition dates of WFIB and UCB and, therefore, are covered under the shared-loss agreements with the FDIC. Allowance on these subsequent drawdowns is accounted for as part of the allowance for loan losses.

(2)The Company has elected to account for all covered loans acquired in the FDIC-assisted acquisitions under ASC 310-30.

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

									Covered Loans
									Subject to
									Allowance for
	Residential		CRE		C&I		Consumer		Loan Losses		Total
	(In thousands)
March 31, 2012
Loans individually evaluated for impairment	$	28,611	$	87,742	$	15,325	$	2,392	$	—	$	134,070
Loans collectively evaluated for impairment	2,841,265		3,689,132		3,223,281		610,365		537,244		10,901,287
Loans acquired with deteriorated credit quality (1)	1,262,390		2,176,843		363,311		63,320		—		3,865,864
Ending balance	$	4,132,266	$	5,953,717	$	3,601,917	$	676,077	$	537,244	$	14,901,221

									Covered Loans
									Subject to
									Allowance for
	Residential		CRE		C&I		Consumer		Loan Losses		Total
	(In thousands)
December 31, 2011
Loans individually evaluated for impairment	$	43,395	$	143,631	$	31,338	$	2,249	$	—	$	220,613
Loans collectively evaluated for impairment	2,686,408		3,688,734		3,111,135		581,536		583,804		10,651,617
Loans acquired with deteriorated credit quality (1)	1,331,615		2,322,062		413,479		67,124		—		4,134,280
Ending balance	$	4,061,418	$	6,154,427	$	3,555,952	$	650,909	$	583,804	$	15,006,510

(1)The Company has elected to account for all covered loans acquired in the FDIC-assisted acquisitions under ASC 310-30. The total principal balance is presented and excludes the purchase discount and any additional advances subsequent to acquisition date.