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

12 Months Ended

Dec. 31, 2013

NON-COVERED LOANS AND ALLOWANCE FOR LOAN LOSSES

Summary of year-end loans receivable, excluding covered loans

	December 31,
	2013			2012
	(In thousands)
Residential:
Single-family	$	3,192,875		$	2,187,323
Multifamily	992,434			900,708
Total residential	4,185,309			3,088,031
Commercial Real Estate (“CRE”):
Income producing	4,301,030			3,644,035
Construction	140,186			121,589
Land	143,861			129,071
Total CRE	4,585,077			3,894,695
Commercial and Industrial (“C&I”):
Commercial business	4,637,056			3,569,388
Trade finance	723,137			661,877
Total C&I	5,360,193			4,231,265
Consumer:
Student loans	679,220			475,799
Other consumer	868,518			269,083
Total consumer	1,547,738			744,882
Total gross loans receivable, excluding covered loans	15,678,317			11,958,873
Unearned fees, premiums, and discounts, net	(23,672		)	(19,301		)
Allowance for loan losses, excluding covered loans	(241,930		)	(229,382		)
Loans receivable, excluding covered loans, net	$	15,412,715		$	11,710,190

Summary of non-covered loans by credit quality

			Special
	Pass/Watch		Mention		Substandard		Total
	(In thousands)
December 31, 2013
Residential:
Single-family	$	3,167,337	$	8,331	$	17,207	$	3,192,875
Multifamily	923,697		1,634		67,103		992,434
CRE:
Income producing	4,032,269		56,752		212,009		4,301,030
Construction	127,138		6,160		6,888		140,186
Land	116,000		9,304		18,557		143,861
C&I:
Commercial business	4,400,847		92,315		143,894		4,637,056
Trade finance	681,345		22,099		19,693		723,137
Consumer:
Student loans	677,094		445		1,681		679,220
Other consumer	865,752		244		2,522		868,518
Total	$	14,991,479	$	197,284	$	489,554	$	15,678,317

			Special
	Pass/Watch		Mention		Substandard		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

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

	Accruing		Accruing		Total		Nonaccrual		Nonaccrual		Total
	Loans		Loans		Accruing		Loans Less		Loans		Nonaccrual		Current
	30-59 Days		60-89 Days		Past Due		Than 90 Days		90 or More		Past Due		Accruing
	Past Due		Past Due		Loans		Past Due		Days Past Due		Loans		Loans		Total
	(In thousands)
December 31, 2013
Residential:
Single-family	$	4,694	$	922	$	5,616	$	—	$	11,218	$	11,218	$	3,176,041	$		3,192,875
Multifamily	8,580		531		9,111		19,661		7,972		27,633		955,690		992,434
CRE:
Income producing	12,746		1,798		14,544		13,924		22,549		36,473		4,250,013		4,301,030
Construction	—		—		—		—		6,888		6,888		133,298		140,186
Land	—		—		—		265		3,223		3,488		140,373		143,861
C&I:
Commercial business	3,428		6,259		9,687		6,437		15,486		21,923		4,605,446		4,637,056
Trade finance	—		—		—		—		909		909		722,228		723,137
Consumer:
Student loans	541		445		986		—		1,681		1,681		676,553		679,220
Other consumer	293		1		294		175		1,263		1,438		866,786		868,518
Loans held for sale	—		—		—		—		—		—		204,970		204,970
Total	$	30,282	$	9,956	$	40,238	$	40,462	$	71,189	$	111,651	$	15,731,398	15,883,287
Unearned fees, premiums and discounts, net															(23,672)
Total recorded investment in non-covered loans and loans held for sale															$	15,859,615

	Accruing		Accruing		Total		Nonaccrual		Nonaccrual		Total
	Loans		Loans		Accruing		Loans Less		Loans		Nonaccrual		Current
	30-59 Days		60-89 Days		Past Due		Than 90 Days		90 or More		Past Due		Accruing
	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

Summary of interest income foregone on nonaccrual loans

	For the Year Ended December 31,
	2013		2012		2011
			(In thousands)
Interest income that would have been recognized had nonaccrual loans performed in accordance with their original terms	$	7,410	$	7,206	$	9,384
Less: Interest income recognized on nonaccrual loans on a cash basis	(2,319)		(2,269)		(3,519)
Interest income foregone on nonaccrual loans	$	5,091	$	4,937	$	5,865

Loans modified as troubled debt restructurings

	Loans Modified as TDRs During the
	Year Ended December 31, 2013
		Pre-Modification		Post-Modification
	Number	Outstanding		Outstanding
	of	Recorded		Recorded		Financial
	Contracts	Investment		Investment *(1)*		Impact *(2)*
	(Dollars in thousands)
Residential:
Single-family	—	$	—	$	—	$	—
Multifamily	1	$	1,093	$	1,071	$	—
CRE:
Income producing	6	$	26,021	$	17,456	$	219
Construction	—	$	—	$	—	$	—
Land	—	$	—	$	—	$	—
C&I:
Commercial business	6	$	16,220	$	15,624	$	4,274
Trade finance	—	$	—	$	—	$	—
Consumer:
Student loans	—	$	—	$	—	$	—
Other consumer	1	$	651	$	639	$	—

	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	$	—

(1) Includes subsequent payments after modification and reflects the balance as of December 31, 2013 and 2012.

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

Troubled debt restructurings that have subsequently defaulted

	Loans Modified as TDRs that Subsequently Defaulted
	During the Year Ended December 31,
	2013			2012
	Number of	Recorded		Number of	Recorded
	Contracts	Investment		Contracts	Investment *(1)*
	(Dollars in thousands)
Residential:
Single-family	—	$	—	2	$	2,830
Multifamily	—	$	—	1	$	378
CRE:
Income producing	—	$	—	1	$	271
Construction	—	$	—	—	$	—
Land	—	$	—	—	$	—
C&I:
Commercial business	1	$	570	2	$	33
Trade finance	—	$	—	—	$	—
Consumer:
Student loans	—	$	—	—	$	—
Other consumer	1	$	639	—	$	—

(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

			Recorded		Recorded
	Unpaid		Investment		Investment		Total				Average		Interest
	Principal		With No		With		Recorded		Related		Recorded		Income
	Balance		Allowance		Allowance		Investment *(2)*		Allowance		Investment		Recognized *(1)*
	(In thousands)
As of and for the year ended December 31, 2013
Residential:
Single-family	$	15,814	$	13,585	$	1,588	$	15,173	$	207	$	15,322	$	222
Multifamily	43,821		30,899		10,215		41,114		1,339		35,799		543
CRE:
Income producing	73,777		39,745		25,523		65,268		5,976		71,856		872
Construction	6,888		6,888		—		6,888		—		6,888		61
Land	17,390		4,372		7,908		12,280		2,082		12,453		42
C&I:
Commercial business	48,482		10,850		27,487		38,337		13,787		38,294		520
Trade finance	2,771		438		752		1,190		752		1,603		42
Consumer:
Student loans	1,749		1,681		—		1,681		—		1,664		1
Other consumer	1,945		1,546		—		1,546		—		1,561		16
Total	$	212,637	$	110,004	$	73,473	$	183,477	$	24,143	$	185,440	$	2,319

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

(1) Excludes interest from performing TDRs.

(2) Excludes $17.7 million and $29.6 million of covered non-accrual loans at December 31, 2013 and 2012, 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		Covered Loans
									under ASC 310-10		under ASC 310-30
									Subject to		Subject to
									Allowance for		Allowance for
	Residential		CRE		C&I		Consumer		Loan Losses *(1)*		Loan Losses		Unallocated		Total
	(In thousands)
Year Ended December 31, 2013
Beginning balance	$	49,349	$	69,856	$	105,376	$	4,801	$	5,153	$	—	$	—	$	234,535
Provision for loan losses	1,918		(6,615)		12,821		8,055		1,759		2,269		2,157		22,364
Allowance for unfunded loan commitments and letters of credit	—		—		—		—		—		—		(2,157)		(2,157)
Charge-offs	(3,197)		(3,357)		(7,405)		(2,385)		(1,436)		—		—		(17,780)
Recoveries	2,647		4,793		4,392		881		—		—		—		12,713
Net (charge-offs)/recoveries	(550)		1,436		(3,013)		(1,504)		(1,436)		—		—		(5,067)
Ending balance	$	50,717	$	64,677	$	115,184	$	11,352	$	5,476	$	2,269	$	—	$	249,675
Ending balance allocated to:
Loans individually evaluated for impairment	$	1,546	$	8,058	$	14,539	$	—	$	—	$	—	$	—	$	24,143
Loans collectively evaluated for impairment	49,171		56,619		100,645		11,352		5,476		—		—		223,263
Covered loans acquired with deteriorated credit quality (2)	—		—		—		—		—		2,269		—		2,269
Ending balance	$	50,717	$	64,677	$	115,184	$	11,352	$	5,476	$	2,269	$	—	$	249,675


									Covered Loans		Covered Loans
									under ASC 310-10		under ASC 310-30
									Subject to		Subject to
									Allowance for		Allowance for
	Residential		CRE		C&I		Consumer		Loan Losses *(1)*		Loan Losses		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

(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 covered loans acquired in the FDIC-assisted acquisitions under ASC 310-30, excluding any additional advances subsequent to acquisition date.

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

									Covered Loans		Covered Loans
									under ASC 310-10		under ASC 310-30
									Subject to		Subject to
									Allowance for		Allowance for
	Residential		CRE		C&I		Consumer		Loan Losses		Loan Losses		Total
	(In thousands)
December 31, 2013
Loans individually evaluated for impairment	$	56,287	$	84,436	$	39,527	$	3,227	$	—	$	—	$	183,477
Covered loans individually evaluated for impairment(2)	—		—		—		—		2,824		—		2,824
Loans collectively evaluated for impairment	4,129,022		4,500,641		5,320,666		1,544,511		317,361		—		15,812,201
Covered loans acquired with deteriorated credit quality(1)	681,608		1,140,432		146,538		43,136		—		129,661		2,141,375
Ending balance	$	4,866,917	$	5,725,509	$	5,506,731	$	1,590,874	$	320,185	$	129,661	$	18,139,877

									Covered Loans		Covered Loans
									under ASC 310-10		under ASC 310-30
									Subject to		Subject to
									Allowance for		Allowance for
	Residential		CRE		C&I		Consumer		Loan Losses		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

(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.