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

12 Months Ended

Dec. 31, 2012

NON-COVERED LOANS AND ALLOWANCE FOR LOAN LOSSES

Summary of year-end loans receivable, excluding covered loans

	December 31,
	2012			2011
	(In thousands)
Residential:
Single-family	$	2,187,323		$	1,796,635
Multifamily	900,708			933,168
Total residential	3,088,031			2,729,803
Commercial Real Estate (“CRE”):
Income producing	3,644,035			3,487,866
Construction	121,589			171,410
Land	129,071			173,089
Total CRE	3,894,695			3,832,365
Commercial and Industrial (“C&I”):
Commercial business	3,569,388			2,655,917
Trade finance	661,877			486,555
Total C&I	4,231,265			3,142,472
Consumer:
Student loans	475,799			306,325
Other consumer	269,083			277,461
Total consumer	744,882			583,786
Total gross loans receivable, excluding covered loans	11,958,873			10,288,426
Unearned fees, premiums, and discounts, net	(19,301		)	(16,762		)
Allowance for loan losses, excluding covered loans	(229,382		)	(209,876		)
Loans receivable, excluding covered loans, net	$	11,710,190		$	10,061,788

Summary of non-covered loans by credit quality

			Special
	Pass/Watch		Mention		Substandard		Doubtful		Total
	(In thousands)
December 31, 2012
Residential:
Single-family	$	2,163,918	$	5,131	$	18,274	$	—	$	2,187,323
Multifamily	781,552		13,510		105,646		—		900,708
CRE:
Income producing	3,416,142		42,222		185,671		—		3,644,035
Construction	63,008		16,885		41,696		—		121,589
Land	79,085		13,232		36,754		—		129,071
C&I:
Commercial business	3,380,212		69,687		119,489		—		3,569,388
Trade finance	632,617		24,778		4,482		—		661,877
Consumer:
Student loans	475,799		—		—		—		475,799
Other consumer	261,136		1,115		6,832		—		269,083
Total	$	11,253,469	$	186,560	$	518,844	$	—	$	11,958,873

			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)
December 31, 2012
Residential:
Single-family	$	4,820	$	2,244	$	7,064	$	1,301	$	9,809	$	11,110	$	2,169,149	$	2,187,323
Multifamily	7,127		924		8,051		6,788		11,052		17,840		874,817		900,708
CRE:
Income producing	18,118		4,731		22,849		9,485		8,354		17,839		3,603,347		3,644,035
Construction	—		—		—		—		27,039		27,039		94,550		121,589
Land	—		—		—		637		3,984		4,621		124,450		129,071
C&I:
Commercial business	3,293		316		3,609		8,068		14,740		22,808		3,542,971		3,569,388
Trade finance	500		—		500		429		2,003		2,432		658,945		661,877
Consumer:
Student loans	71		—		71		—		—		—		475,728		475,799
Other consumer	485		968		1,453		499		3,921		4,420		263,210		269,083
Loans held for sale	—		—		—		—		—		—		174,317		174,317
Total	$	34,414	$	9,183	$	43,597	$	27,207	$	80,902	$	108,109	$	11,981,484	12,133,190
Unearned fees, premiums and discounts, net															(19,301		)
Total recorded investment in non-covered loans and loans held for sale															$	12,113,889

	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 Year Ended December 31,
	2012			2011			2010
	(In thousands)
Interest income that would have been recognized had nonaccrual loans performed in accordance with their original terms	$	7,206		$	9,384		$	12,689
Less: Interest income recognized on nonaccrual loans on a cash basis	(2,269		)	(3,519		)	(7,880		)
Interest income foregone on nonaccrual loans	$	4,937		$	5,865		$	4,809

Loans modified as troubled debt restructurings

	Loans Modified as TDRs During the
	Year Ended December 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	12	$	6,227	$	5,556	$	938
Multifamily	16	$	28,736	$	28,153	$	3,344
CRE:
Income producing	8	$	10,118	$	8,162	$	1,169
Construction	—	$	—	$	—	$	—
Land	3	$	1,610	$	1,059	$	395
C&I:
Commercial business	14	$	5,101	$	4,374	$	560
Trade finance	2	$	2,510	$	579	$	1,506
Consumer:
Student loans	—	$	—	$	—	$	—
Other consumer	1	$	108	$	108	$	—

	Loans Modified as TDRs During the
	Year Ended December 31, 2011
		Pre-Modification		Post-Modification
	Number	Outstanding		Outstanding
	of	Recorded		Recorded		Financial
	Contracts	Investment		Investment (1)		Impact (2)
	(Dollars in thousands)
Residential:
Single-family	13	$	3,102	$	2,972	$	665
Multifamily	15	$	6,442	$	4,903	$	1,279
CRE:
Income producing	11	$	32,404	$	29,933	$	4,983
Construction	3	$	3,740	$	4,221	$	220
Land	11	$	35,554	$	34,381	$	4,279
C&I:
Commercial business	24	$	18,247	$	16,706	$	4,443
Trade finance	1	$	4,127	$	4,127	$	—
Consumer:
Student loans	—	$	—	$	—	$	—
Other consumer	—	$	—	$	—	$	—

(1) Includes subsequent payments after modification and reflects the balance as of December 31, 2012 and 2011.

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

Troubled debt restructurings that subsequently defaulted

	Loans Modified as TDRs that Subsequently Defaulted
	During the Year Ended December 31,
	2012			2011
	Number of	Recorded		Number of	Recorded
	Contracts	Investment (1)		Contracts	Investment
	(Dollars in thousands)
Residential:
Single-family	2	$	2,830	—	$	—
Multifamily	1	$	378	—	$	—
CRE:
Income producing	1	$	271	—	$	—
Construction	—	$	—	1	$	890
Land	—	$	—	1	$	11,695
C&I:
Commercial business	2	$	33	2	$	307
Trade finance	—	$	—	—	$	—
Consumer:
Student loans	—	$	—	—	$	—
Other consumer	—	$	—	—	$	—

(1)

Included in the year ended December 31, 2012 table is $271 thousand of recorded investment which has been transferred to REO and is not included in the total loans receivable balance as of December 31, 2012.

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

	Unpaid Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment (2)		Related Allowance		Average Recorded Investment		Interest Income Recognized *(1)*

	(In thousands)

As of and for the year ended December 31, 2012
Residential:
Single-family	$	19,318	$	15,610	$	2,598	$	18,208	$	721	$	19,094	$	88
Multifamily	57,464		45,511		8,756		54,267		2,410		54,707		403
CRE:
Income producing	59,574		47,019		7,656		54,675		2,559		57,854		304
Construction	30,815		25,530		1,509		27,039		142		22,696		723
Land	20,317		6,132		8,995		15,127		2,860		17,769		76
C&I:
Commercial business	38,630		20,235		3,835		24,070		2,835		33,343		614
Trade finance	4,124		2,582		—		2,582		—		3,863		48
Consumer:
Student loans	—		—		—		—		—		—		—
Other consumer	4,798		4,528		—		4,528		—		4,631		13

Total	$	235,040	$	167,147	$	33,349	$	200,496	$	11,527	$	213,957	$	2,269

	Unpaid Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment (2)		Related Allowance		Average Recorded Investment		Interest Income 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.

(2) Includes $29.6 million and $18.9 million of loans at December 31, 2012 and 2011, respectively, accounted for under ASC 310-10, of which some loans have additional partial balances accounted for under ASC 310-30.

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)
Year Ended December 31, 2012
Beginning balance	$	52,180		$	66,457		$	87,020		$	4,219		$	6,647		$	—		$	216,523
Provision for loan losses	3,255			20,977			35,204			2,295			5,016			(1,563		)	65,184
Allowance for unfunded loan commitments and letters of credit	—			—			—			—			—			1,563			1,563
Charge-offs	(7,700		)	(27,060		)	(21,818		)	(1,824		)	(6,510		)	—			(64,912		)
Recoveries	1,614			9,482			4,970			111			—			—			16,177

Net charge-offs	(6,086		)	(17,578		)	(16,848		)	(1,713		)	(6,510		)	—			(48,735		)

Ending balance	$	49,349		$	69,856		$	105,376		$	4,801		$	5,153		$	—		$	234,535

Ending balance allocated to:
Loans individually evaluated for impairment	$	3,131		$	5,561		$	2,835		$	—		$	—		$	—		$	11,527
Loans collectively evaluated for impairment	46,218			64,295			102,541			4,801			5,153			—			223,008
Covered loans acquired with deteriorated credit quality (2)	—			—			—			—			—			—			—

Ending balance	$	49,349		$	69,856		$	105,376		$	4,801		$	5,153		$	—		$	234,535

													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
Covered 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)
December 31, 2012
Loans individually evaluated for impairment	$	72,475	$	96,841	$	26,652	$	4,528	$	—	$	200,496
Covered loans individually evaluated for impairment(2)	—		—		—		—		5,237		5,237
Loans collectively evaluated for impairment	3,015,556		3,797,854		4,204,613		740,354		426,448		12,184,825
Covered loans acquired with deteriorated credit quality(1)	976,969		1,727,159		261,622		53,521		—		3,019,271

Ending balance	$	4,065,000	$	5,621,854	$	4,492,887	$	798,403	$	431,685	$	15,409,829

									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
Covered loans individually evaluated for impairment(2)	—		—		—		—		—		—
Loans collectively evaluated for impairment	2,686,408		3,688,734		3,111,135		581,536		583,804		10,651,617
Covered 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.