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LOANS AND LEASES
 12 Months Ended
Dec. 31, 2013
LOANS AND LEASES  
LOANS AND LEASES

NOTE 7—LOANS AND LEASES

        The following table summarizes the composition of our loan and lease portfolio as of the dates indicated:

 
   December 31, 2013   December 31, 2012  
 
   Non-PCI
Loans and
Leases		   PCI
Loans		   Total   Non-PCI
Loans and
Leases		   PCI
Loans		   Total  
 
   (In thousands)
  

Non-covered loans and leases

   $ 3,844,591   $ 20,326   $ 3,864,917   $ 3,049,505   $ —   $ 3,049,505  

Covered loans

     85,948     362,470     448,418     25,442     517,885     543,327  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total gross loans and leases

     3,930,539     382,796     4,313,335     3,074,947     517,885     3,592,832  

Unearned income

     (983 )   —     (983 )   (2,535 )   —     (2,535 )
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total loans and leases, net of unearned income

     3,929,556     382,796     4,312,352     3,072,412     517,885     3,590,297  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Allowance for loan and lease losses:

                                      

Non-covered loans and leases

     (60,241 )   —     (60,241 )   (65,899 )   —     (65,899 )

Covered loans

     —     (21,793 )   (21,793 )   —     (26,069 )   (26,069 )
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total allowance for loan and lease losses

     (60,241 )   (21,793 )   (82,034 )   (65,899 )   (26,069 )   (91,968 )
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total net loans and leases

   $ 3,869,315   $ 361,003   $ 4,230,318   $ 3,006,513   $ 491,816   $ 3,498,329  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

        The following table presents the composition of our gross loans and leases by portfolio segment as of the dates indicated:

 
   December 31, 2013   December 31, 2012  
 
   Non-PCI
Loans and
Leases		   PCI
Loans		   Total   Non-PCI
Loans and
Leases		   PCI
Loans		   Total  
 
   (In thousands)
  

Non-Covered Loans and Leases

                                      

Real estate mortgage

   $ 2,359,125   $ 18,900   $ 2,378,025   $ 1,919,310   $ —   $ 1,919,310  

Real estate construction

     200,332     1,391     201,723     129,959     —     129,959  

Commercial

     963,152     —     963,152     803,342     —     803,342  

Leases

     269,769     —     269,769     174,373     —     174,373  

Consumer

     52,213     35     52,248     22,521     —     22,521  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total gross non-covered loans and leases

   $ 3,844,591   $ 20,326   $ 3,864,917   $ 3,049,505   $ —   $ 3,049,505  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

Covered Loans

                                      

Real estate mortgage

   $ 65,739   $ 352,234   $ 417,973   $ 20,843   $ 484,057   $ 504,900  

Real estate construction

     8,758     9,036     17,794     —     24,645     24,645  

Commercial

     8,855     974     9,829     4,113     9,071     13,184  

Consumer

     2,596     226     2,822     486     112     598  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total gross covered loans

   $ 85,948   $ 362,470   $ 448,418   $ 25,442   $ 517,885   $ 543,327  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

Total Loans and Leases

                                      

Real estate mortgage

   $ 2,424,864   $ 371,134   $ 2,795,998   $ 1,940,153   $ 484,057   $ 2,424,210  

Real estate construction

     209,090     10,427     219,517     129,959     24,645     154,604  

Commercial

     972,007     974     972,981     807,455     9,071     816,526  

Leases

     269,769     —     269,769     174,373     —     174,373  

Consumer

     54,809     261     55,070     23,007     112     23,119  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total gross loans and leases

   $ 3,930,539   $ 382,796   $ 4,313,335   $ 3,074,947   $ 517,885   $ 3,592,832  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

        As of May 31, 2013, the fair value of the FCAL Non-PCI loans acquired was $1.0 billion, the related gross contractual amount was $1.3 billion, and the estimated contractual cash flows not expected to be collected was $34.4 million.

        The following table presents a summary of the activity in the allowance for credit losses on Non-PCI loans and leases for the years indicated:

 
   Components    
  
 
   Non-PCI
Allowance for
Loan and
Lease Losses		   Non-PCI
Reserve for
Unfunded
Loan
Commitments		   Total
Non-PCI
Allowance for
Credit
Losses		  
 
   (In thousands)
  

Balance, December 31, 2010

   $ 98,653   $ 5,675   $ 104,328  

Charge-offs

     (28,560 )   —     (28,560 )

Recoveries

     4,715     —     4,715  

Provision

     10,505     2,795     13,300  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance, December 31, 2011

     85,313     8,470     93,783  

Charge-offs

     (13,070 )   —     (13,070 )

Recoveries

     3,406     —     3,406  

Negative provision

     (9,750 )   (2,250 )   (12,000 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance, December 31, 2012

     65,899     6,220     72,119  

Charge-offs

     (11,159 )   —     (11,159 )

Recoveries

     6,856     —     6,856  

(Negative provision) provision

     (1,355 )   1,355     —  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance, December 31, 2013

   $ 60,241   $ 7,575   $ 67,816  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

        The following tables present summaries of the activity in the allowance for loan and lease losses on Non-PCI loans and leases by portfolio segment and PCI loans for the years indicated:

 
   Year Ended December 31, 2013  
 
   Real
Estate
Mortgage		   Real
Estate
Construction		   Commercial   Leases   Consumer   Total
Non-PCI		   Total
PCI		   Total  
 
   (In thousands)
  

Allowance for Loan and Lease Losses:

                                                  

Beginning balance

   $ 38,700   $ 3,221   $ 20,759   $ 1,493   $ 1,726   $ 65,899   $ 26,069   $ 91,968  

Charge-offs

     (4,552 )   —     (6,295 )   (114 )   (198 )   (11,159 )   (66 )   (11,225 )

Recoveries

     2,507     1,654     2,621     —     74     6,856     —     6,856  

Provision (negative provision)

     (10,577 )   (577 )   6,609     1,848     1,342     (1,355 )   (4,210 )   (5,565 )
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Ending balance

   $ 26,078   $ 4,298   $ 23,694   $ 3,227   $ 2,944   $ 60,241   $ 21,793   $ 82,034  
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                   

Amount of the allowance applicable to loans and leases:

                                                  

Individually evaluated for impairment           

   $ 2,188   $ 169   $ 5,003   $ —   $ 240   $ 7,600              
                                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                       

Collectively evaluated for impairment           

   $ 23,890   $ 4,129   $ 18,691   $ 3,227   $ 2,704   $ 52,641              
                                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                       

Acquired with deteriorated credit quality

                                       $ 21,793        
                                                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                                 

Loans and Leases:

                                                  

Ending balance

   $ 2,424,864   $ 209,090   $ 972,007   $ 269,769   $ 54,809   $ 3,930,539   $ 382,796   $ 4,313,335  
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                   

The ending balance of the loan and lease portfolio is composed of loans and leases:

                                                  

Individually evaluated for impairment           

   $ 62,276   $ 7,512   $ 17,300   $ 632   $ 702   $ 88,422              
                                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                       

Collectively evaluated for impairment           

   $ 2,362,588   $ 201,578   $ 954,707   $ 269,137   $ 54,107   $ 3,842,117              
                                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                       

Acquired with deteriorated credit quality

                                       $ 382,796        
                                                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                                 


 

 
   Year Ended December 31, 2012  
 
   Real
Estate
Mortgage		   Real
Estate
Construction		   Commercial   Leases   Consumer   Total
Non-PCI		   Total
PCI		   Total  
 
   (In thousands)
  

Allowance for Loan and Lease Losses:

                                                  

Beginning balance

   $ 50,205   $ 8,697   $ 23,643   $ —   $ 2,768   $ 85,313   $ 31,275   $ 116,588  

Charge-offs

     (7,680 )   (492 )   (4,580 )   (28 )   (290 )   (13,070 )   (4,387 )   (17,457 )

Recoveries

     1,598     49     1,622     —     137     3,406     —     3,406  

Provision (negative provision)

     (5,423 )   (5,033 )   74     1,521     (889 )   (9,750 )   (819 )   (10,569 )
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Ending balance

   $ 38,700   $ 3,221   $ 20,759   $ 1,493   $ 1,726   $ 65,899   $ 26,069   $ 91,968  
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                   

Amount of the allowance applicable to loans and leases:

                                                  

Individually evaluated for impairment           

   $ 7,827   $ 371   $ 4,525   $ —   $ 265   $ 12,988              
                                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                       

Collectively evaluated for impairment           

   $ 30,873   $ 2,850   $ 16,234   $ 1,493   $ 1,461   $ 52,911              
                                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                       

Acquired with deteriorated credit quality

                                       $ 26,069        
                                                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                                 

Loans and Leases:

                                                  

Ending balance

   $ 1,940,153   $ 129,959   $ 807,455   $ 174,373   $ 23,007   $ 3,074,947   $ 517,885   $ 3,592,832  
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                   

The ending balance of the loan and lease portfolio is composed of loans and leases:

                                                  

Individually evaluated for impairment           

   $ 107,198   $ 25,450   $ 14,530   $ 244   $ 628   $ 148,050              
                                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                       

Collectively evaluated for impairment           

   $ 1,832,955   $ 104,509   $ 792,925   $ 174,129   $ 22,379   $ 2,926,897              
                                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                       

Acquired with deteriorated credit quality

                                       $ 517,885        
                                                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                                 

  • Non-Purchased Credit Impaired (Non-PCI) Loans and Leases

        The following tables present the credit risk rating categories for Non-PCI loans and leases by portfolio segment and class as of the dates indicated. Nonclassified loans and leases are those with a credit risk rating of either pass or special mention, while classified loans and leases are those with a credit risk rating of either substandard or doubtful.

 
   December 31, 2013   December 31, 2012  
 
   Nonclassified   Classified   Total   Nonclassified   Classified   Total  
 
   (In thousands)
  

Real estate mortgage:

                                      

Hospitality

   $ 168,216   $ 12,337   $ 180,553   $ 168,489   $ 12,655   $ 181,144  

SBA 504

     39,869     5,297     45,166     48,372     5,786     54,158  

Other

     2,134,866     64,279     2,199,145     1,655,086     49,765     1,704,851  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total real estate mortgage

     2,342,951     81,913     2,424,864     1,871,947     68,206     1,940,153  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Real estate construction:

                                      

Residential

     58,131     750     58,881     46,591     2,038     48,629  

Commercial

     143,918     6,291     150,209     77,503     3,827     81,330  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total real estate construction

     202,049     7,041     209,090     124,094     5,865     129,959  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Commercial:

                                      

Collateralized

     568,348     18,838     587,186     447,323     14,802     462,125  

Unsecured

     151,896     1,856     153,752     77,670     2,905     80,575  

Asset-based

     195,569     6,859     202,428     235,075     4,355     239,430  

SBA 7(a)

     22,880     5,761     28,641     18,888     6,437     25,325  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total commercial

     938,693     33,314     972,007     778,956     28,499     807,455  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Leases

     269,137     632     269,769     174,129     244     174,373  

Consumer

     50,398     4,411     54,809     21,767     1,240     23,007  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total Non-PCI loans and leases

   $ 3,803,228   $ 127,311   $ 3,930,539   $ 2,970,893   $ 104,054   $ 3,074,947  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

        In addition to our internal credit risk rating process, our federal and state banking regulators, as an integral part of their examination process, periodically review the Company's loan risk rating classifications. Our regulators may require the Company to recognize rating downgrades based on their judgments related to information available to them at the time of their examinations. Risk rating downgrades generally result in higher allowances for credit losses.

        The following tables present an aging analysis of our Non-PCI loans and leases by portfolio segment and class as of the dates indicated:

 
   December 31, 2013  
 
   30 - 59 Days
Past Due		   60 - 89 Days
Past Due		   Greater
Than
90 Days
Past Due		   Total
Past Due		   Current   Total  
 
   (In thousands)
  

Real estate mortgage:

                                      

Hospitality

   $ —   $ —   $ —   $ —   $ 180,553   $ 180,553  

SBA 504

     2,564     —     —     2,564     42,602     45,166  

Other

     12,466     560     2,406     15,432     2,183,713     2,199,145  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total real estate mortgage

     15,030     560     2,406     17,996     2,406,868     2,424,864  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Real estate construction:

                                      

Residential

     —     —     —     —     58,881     58,881  

Commercial

     —     —     2,013     2,013     148,196     150,209  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total real estate construction

     —     —     2,013     2,013     207,077     209,090  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Commercial:

                                      

Collateralized

     66     407     259     732     586,454     587,186  

Unsecured

     83     —     68     151     153,601     153,752  

Asset-based

     —     —     —     —     202,428     202,428  

SBA 7(a)

     1,173     597     243     2,013     26,628     28,641  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total commercial

     1,322     1,004     570     2,896     969,111     972,007  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Leases

     2,530     132     244     2,906     266,863     269,769  

Consumer

     3,315     4     —     3,319     51,490     54,809  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total Non-PCI loans and leases

   $ 22,197   $ 1,700   $ 5,233   $ 29,130   $ 3,901,409   $ 3,930,539  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

        At December 31, 2013 and 2012, the Company had no loans or leases that were greater than 90 days past due and still accruing interest. It is the Company's policy to discontinue accruing interest when principal or interest payments are past due 90 days or when, in the opinion of management, there is a reasonable doubt as to collectability in the normal course of business. At December 31, 2013, nonaccrual loans and leases totaled $46.8 million. Nonaccrual loans and leases included $4.2 million of loans 30 to 89 days past due and $37.3 million of current loans that were placed on nonaccrual status based on management's judgment regarding their collectability.

 
   December 31, 2012  
 
   30 - 59 Days
Past Due		   60 - 89 Days
Past Due		   Greater
Than
90 Days
Past Due		   Total
Past Due		   Current   Total  
 
   (In thousands)
  

Real estate mortgage:

                                      

Hospitality

   $ —   $ —   $ —   $ —   $ 181,144   $ 181,144  

SBA 504

     955     —     1,727     2,682     51,476     54,158  

Other

     4,098     54     3,271     7,423     1,697,428     1,704,851  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total real estate mortgage

     5,053     54     4,998     10,105     1,930,048     1,940,153  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Real estate construction:

                                      

Residential

     —     —     —     —     48,629     48,629  

Commercial

     —     —     1,245     1,245     80,085     81,330  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total real estate construction

     —     —     1,245     1,245     128,714     129,959  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Commercial:

                                      

Collateralized

     964     161     872     1,997     460,128     462,125  

Unsecured

     3     135     230     368     80,207     80,575  

Asset-based

     —     —     176     176     239,254     239,430  

SBA 7(a)

     281     547     1,271     2,099     23,226     25,325  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total commercial

     1,248     843     2,549     4,640     802,815     807,455  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Leases

     225     132     244     601     173,772     174,373  

Consumer

     23     1     —     24     22,983     23,007  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total Non-PCI loans and leases

   $ 6,549   $ 1,030   $ 9,036   $ 16,615   $ 3,058,332   $ 3,074,947  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

        Nonaccrual loans totaled $41.8 million at December 31, 2012, including $4.2 million of loans 30 to 89 days past due and $28.6 million of current loans that were placed on nonaccrual status based on management's judgment regarding their collectability.

        The following tables present our Non-PCI nonaccrual and performing loans and leases by portfolio segment and class as of the dates indicated:

 
   December 31, 2013   December 31, 2012  
 
   Nonaccrual   Performing   Total   Nonaccrual   Performing   Total  
 
   (In thousands)
  

Real estate mortgage:

                                      

Hospitality

   $ 6,723   $ 173,830   $ 180,553   $ 6,908   $ 174,236   $ 181,144  

SBA 504

     2,602     42,564     45,166     2,982     51,176     54,158  

Other

     18,648     2,180,497     2,199,145     16,585     1,688,266     1,704,851  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total real estate mortgage

     27,973     2,396,891     2,424,864     26,475     1,913,678     1,940,153  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Real estate construction:

                                      

Residential

     389     58,492     58,881     1,057     47,572     48,629  

Commercial

     2,830     147,379     150,209     2,715     78,615     81,330  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total real estate construction

     3,219     205,871     209,090     3,772     126,187     129,959  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Commercial:

                                      

Collateralized

     9,991     577,195     587,186     4,462     457,663     462,125  

Unsecured

     458     153,294     153,752     2,027     78,548     80,575  

Asset-based

     1,070     201,358     202,428     176     239,254     239,430  

SBA 7(a)

     3,037     25,604     28,641     4,181     21,144     25,325  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total commercial

     14,556     957,451     972,007     10,846     796,609     807,455  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Leases

     632     269,137     269,769     244     174,129     174,373  

Consumer

     394     54,415     54,809     425     22,582     23,007  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total Non-PCI loans and leases

   $ 46,774   $ 3,883,765   $ 3,930,539   $ 41,762   $ 3,033,185   $ 3,074,947  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

        Nonaccrual loans and leases and performing restructured loans are considered impaired for reporting purposes. The following table presents the composition of our impaired loans and leases as of the dates indicated:

 
   December 31, 2013   December 31, 2012  
 
   Nonaccrual
Loans/Leases		   Performing
Restructured
Loans		   Total
Impaired
Loans/Leases		   Nonaccrual
Loans/Leases		   Performing
Restructured
Loans		   Total
Impaired
Loans/Leases		  
 
   (In thousands)
  

Real estate mortgage

   $ 27,973   $ 34,303   $ 62,276   $ 26,475   $ 80,723   $ 107,198  

Real estate construction

     3,219     4,293     7,512     3,772     21,678     25,450  

Commercial

     14,556     2,744     17,300     10,846     3,684     14,530  

Leases

     632     —     632     244     —     244  

Consumer

     394     308     702     425     203     628  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total

   $ 46,774   $ 41,648   $ 88,422   $ 41,762   $ 106,288   $ 148,050  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

        At December 31, 2013, we had commitments in the amount of $997,000 to lend on nonaccrual loans but are under no obligation to honor such commitment as long as the loan is on nonaccrual. We had commitments in the amount of $7,000 to lend on performing restructured loans. For the years ended December 31, 2013, 2012, and 2011, no interest income was recorded on Non-PCI impaired loans during the time such loans were on nonaccrual status; any interest payments received were credited to principal.

        The following table presents information regarding our Non-PCI impaired loans and leases by portfolio segment and class as of the dates indicated:

 
   December 31, 2013   December 31, 2012  
 
   Recorded
Investment(1)		   Unpaid
Principal
Balance		   Related
Allowance		   Recorded
Investment(1)		   Unpaid
Principal
Balance		   Related
Allowance		  
 
   (In thousands)
  

With An Allowance Recorded:

                                      

Real estate mortgage:

                                      

Hospitality

   $ 5,717   $ 6,215   $ 198   $ 8,954   $ 9,640   $ 2,396  

SBA 504

     1,642     1,643     230     1,676     1,676     324  

Other

     15,937     16,571     1,760     58,364     60,262     5,107  

Real estate construction:

                                      

Residential

     778     778     168     1,303     1,330     165  

Other

     1,250     1,250     1     6,723     6,723     206  

Commercial:

                                      

Collateralized

     4,377     4,692     4,270     2,477     2,731     1,865  

Unsecured

     801     829     375     2,396     3,121     2,234  

Asset-based

     1,070     1,070     180     —     —     —  

SBA 7(a)

     1,136     1,136     178     2,871     3,616     426  

Consumer

     424     471     240     466     506     265  

With No Related Allowance Recorded:

    
 		    
 		    
 		    
 		    
 		    
 		  

Real estate mortgage:

                                      

Hospitality

   $ 3,013   $ 3,385   $ —   $ —   $ —   $ —  

SBA 504

     2,602     3,646     —     2,982     3,755     —  

Other

     33,365     46,062     —     35,222     39,503     —  

Real estate construction:

                                      

Other

     5,484     9,923     —     17,424     21,085     —  

Commercial:

                                      

Collateralized

     6,700     9,924     —     3,657     4,994     —  

Unsecured

     179     247     —     156     163     —  

Asset-based

     —     —     —     176     176     —  

SBA 7(a)

     3,037     4,945     —     2,797     4,057     —  

Leases

     632     632     —     244     244     —  

Consumer

     278     394     —     162     233     —  

Total:

    
 		    
 		    
 		    
 		    
 		    
 		  

Real estate mortgage

   $ 62,276   $ 77,522   $ 2,188   $ 107,198   $ 114,836   $ 7,827  

Real estate construction

     7,512     11,951     169     25,450     29,138     371  

Commercial

     17,300     22,843     5,003     14,530     18,858     4,525  

Leases

     632     632     —     244     244     —  

Consumer

     702     865     240     628     739     265  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total Non-PCI loans and leases

   $ 88,422   $ 113,813   $ 7,600   $ 148,050   $ 163,815   $ 12,988  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           
(1)
The recorded investment in a loan reflects the contractual amount due from the borrower reduced by charge-offs, any participation amount sold to a third party, interest payments on nonaccrual loans applied to principal, and purchase discounts.

 
   Year Ended December 31,  
 
   2013   2012   2011  
 
   Weighted
Average
Recorded
Investment(1)		   Interest
Income
Recognized		   Weighted
Average
Recorded
Investment(1)		   Interest
Income
Recognized		   Weighted
Average
Recorded
Investment(1)		   Interest
Income
Recognized		  
 
   (In thousands)
  

With An Allowance Recorded:

                                      

Real estate mortgage:

                                      

Hospitality

   $ 5,717   $ 81   $ 8,954   $ 80   $ 17,399   $ 622  

SBA 504

     1,642     90     827     41     895     21  

Other

     13,205     509     51,441     2,070     42,973     1,623  

Real estate construction:

                                      

Residential

     778     14     1,303     11     2,520     66  

Other

     1,250     63     6,723     231     5,375     113  

Commercial:

                                      

Collateralized

     3,281     29     2,219     48     4,745     66  

Unsecured

     772     33     2,273     20     2,767     24  

Asset-based

     569     —     —     —     —     —  

SBA 7(a)

     1,136     56     2,593     53     1,761     86  

Consumer

     425     10     389     7     291     —  

With No Related Allowance Recorded:

    
 		    
 		    
 		    
 		    
 		    
 		  

Real estate mortgage:

                                      

Hospitality

   $ 3,013   $ —   $ —   $ —   $ —   $ —  

SBA 504

     2,601     —     1,472     —     1,916     —  

Other

     27,912     1,060     29,316     1,523     13,827     678  

Real estate construction:

                                      

Residential

     —     —     —     —     611     —  

Other

     4,866     11     17,424     589     14,904     375  

Commercial:

                                      

Collateralized

     3,410     20     1,657     27     1,584     —  

Unsecured

     157     —     148     —     499     —  

Asset-based

     —     —     132     —     14     —  

SBA 7(a)

     2,571     —     2,601     24     5,753     15  

Leases

     245     —     224     —     —     —  

Consumer

     161     —     136     —     234     27  

Total:

    
 		    
 		    
 		    
 		    
 		    
 		  

Real estate mortgage

   $ 54,090   $ 1,740   $ 92,010   $ 3,714   $ 77,010   $ 2,944  

Real estate construction

     6,894     88     25,450     831     23,410     554  

Commercial

     11,896     138     11,623     172     17,123     191  

Leases

     245     —     224     —     —     —  

Consumer

     586     10     525     7     525     27  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total Non-PCI loans and leases

   $ 73,711   $ 1,976   $ 129,832   $ 4,724   $ 118,068   $ 3,716  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           
(1)
For the loans and leases reported as impaired at December 31, 2013, 2012, and 2011, amounts were calculated based on the period of time such loans and leases were impaired during the reporting period.

        The following tables present Non-PCI new troubled debt restructurings and defaulted troubled debt restructurings for the years indicated:

 
   Troubled Debt Restructurings   Troubled Debt
Restructurings
That Subsequently
Defaulted(1)		  
 
    
   Pre-
Modification
Outstanding
Recorded
Investment		   Post-
Modification
Outstanding
Recorded
Investment		  
 
   Number
of
Loans		   Number
of
Loans		   Recorded
Investment		  
 
   (Dollars in thousands)
  

Year Ended December 31, 2013

                                

Real estate mortgage:

                                

Other

     14   $ 16,223   $ 16,223     2   $ 1,844  

Real estate construction:

                                

Residential

     1     390     390     —     —  

Commercial:

                                

Collateralized

     11     5,618     5,618     1     419  

Unsecured

     5     521     521     2     66  

Asset-based

     1     2,032     2,032     1     1,070  

SBA 7(a)

     4     137     137     —     —  

Consumer

     2     125     125     —     —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total

     38   $ 25,046   $ 25,046     6   $ 3,399 (2)
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Year Ended December 31, 2012

                                

Real estate mortgage:

                                

SBA 504

     2   $ 1,680   $ 1,680     —   $ —  

Other

     8     14,861     13,840     —     —  

Real estate construction:

                                

Other

     3     6,919     6,919     —     —  

Commercial:

                                

Collateralized

     7     1,652     1,652     2     458  

Unsecured

     5     317     317     —     —  

SBA 7(a)

     4     1,216     1,216     1     873  

Consumer

     1     206     206     —     —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total

     30   $ 26,851   $ 25,830     3   $ 1,331 (3)
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Year Ended December 31, 2011

                                

Real estate mortgage:

                                

Hospitality

     1   $ 2,086   $ 2,086     —   $ —  

SBA 504

     1     619     619     —     —  

Other

     35     56,201     56,008     3     2,914  

Real estate construction:

                                

Other

     6     14,906     14,906     1     1,492  

Commercial:

                                

Collateralized

     15     2,780     2,780     —     —  

Unsecured

     4     581     581     —     —  

SBA 7(a)

     15     3,515     3,515     3     59  

Consumer

     1     144     144     —     —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total

     78   $ 80,832   $ 80,639     7   $ 4,465 (4)
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       
(1)
The population of defaulted restructured loans for the period indicated includes only those loans restructured during the preceding 12-month period. The table excludes defaulted troubled restructurings in those classes for which the recorded investment was zero at the end of the period.

(2)
Represents the balance at December 31, 2013 and is net of charge-offs of $1.6 million.

(3)
Represents the balance at December 31, 2012 and is net of charge-offs of $921,000.

(4)
Represents the balance at December 31, 2011 and is net of charge-offs of $4.5 million.

  • Purchased Credit Impaired (PCI) Loans

        The following table reflects the PCI loans by portfolio segment as of the dates indicated:

 
   December 31, 2013   December 31, 2012  
 
   Amount   % of
Total		   Amount   % of
Total		  
 
   (Dollars in thousands)
  

Real estate mortgage

   $ 412,791     96 % $ 534,378     94 %

Real estate construction

     12,015     3     23,220     4  

Commercial

     3,021     1     11,130     2  

Consumer

     424     —     108     —  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total outstanding PCI loans

     428,251     100 %   568,836     100 %
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Less:

                          

Discount

     (45,455 )         (50,951 )      

Allowance for loan losses

     (21,793 )         (26,069 )      
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total net PCI loans

   $ 361,003         $ 491,816        
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

        The following table summarizes the accretable yield on the purchased credit impaired loans acquired in the FCAL acquisition as of May 31, 2013:

 
   May 31, 2013  
 
   Accretable Yield  
 
   Covered
PCI Loans		   Non-Covered
PCI Loans		   Total  
 
   (In thousands)
  

Undiscounted contractual cash flows

   $ 42,881   $ 41,936   $ 84,817  

Undiscounted cash flows not expected to be collected (nonaccretable difference)

     (16,050 )   (16,337 )   (32,387 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Undiscounted cash flows expected to be collected

     26,831     25,599     52,430  

Estimated fair value of loans acquired

     (24,341 )   (19,805 )   (44,146 )

Acquired accrued interest receivable

     (66 )   (122 )   (188 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Accretable yield

   $ 2,424   $ 5,672   $ 8,096  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

        The following table summarizes the changes in the carrying amount of PCI loans and accretable yield on those loans for the years indicated:

 
   Covered
PCI Loans		   Non-Covered
PCI Loans		  
 
   Carrying
Amount		   Accretable
Yield		   Carrying
Amount		   Accretable
Yield		  
 
   (In thousands)
  

Balance, December 31, 2010

   $ 879,486   $ (290,665 ) $ —   $ —  

Accretion

     65,282     65,282     —     —  

Payments received

     (257,440 )   —     —     —  

Increase in expected cash flows, net

     —     (33,882 )   —     —  

Provision for credit losses

     (13,270 )   —     —     —  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance, December 31, 2011

     674,058     (259,265 )   —     —  

Accretion

     49,562     49,562     —     —  

Payments received

     (232,623 )   —     —     —  

Decrease in expected cash flows, net

     —     13,681     —     —  

Negative provision for credit losses

     819     —     —     —  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance, December 31, 2012

     491,816     (196,022 )   —     —  

Addition from the FCAL acquisition

     24,341     (2,424 )   19,805     (5,672 )

Accretion

     44,304     44,304     2,376     2,376  

Payments received

     (223,994 )   —     (1,855 )   —  

Decrease (increase) in expected cash flows, net          

     —     20,494     —     (2,624 )

Negative provision for credit losses

     4,210     —     —     —  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance, December 31, 2013

   $ 340,677   $ (133,648 ) $ 20,326   $ (5,920 )
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

        The following tables present the credit risk rating categories for PCI loans by portfolio segment as of the dates indicated. Nonclassified loans are those with a credit risk rating of either pass or special mention, while classified loans are those with a credit risk rating of either substandard or doubtful.

 
   December 31, 2013   December 31, 2012  
 
   Nonclassified   Classified   Total   Nonclassified   Classified   Total  
 
   (In thousands)
  

Real estate mortgage

   $ 216,092   $ 155,042   $ 371,134   $ 331,341   $ 152,716   $ 484,057  

Real estate construction

     4,399     6,028     10,427     6,311     18,334     24,645  

Commercial

     569     405     974     3,420     5,651     9,071  

Consumer

     —     261     261     —     112     112  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total PCI loans, net

   $ 221,060   $ 161,736   $ 382,796   $ 341,072   $ 176,813   $ 517,885  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

        Our federal and state banking regulators, as an integral part of their examination process, periodically review the Company's loan classifications. Our regulators may require the Company to recognize rating downgrades based on their judgments related to information available to them at the time of their examinations.