10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

______________________________________________ 

FORM 10-Q

______________________________________________ 

(Mark One)

x Quarterly report pursuant to section 13 or 15 (d) of the Securities Exchange Act of 1934

For the quarterly period ended June 30, 2015

or

o Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from to

Commission File Number: 000-50245

______________________________________________ 

BBCN BANCORP, INC.

(Exact name of registrant as specified in its charter)

______________________________________________ 

Delaware	95-4849715
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification Number)
3731 Wilshire Boulevard, Suite 1000, Los Angeles, California	90010
(Address of principal executive offices)	(ZIP Code)

(213) 639-1700

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)

______________________________________________ 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	x	Accelerated filer	o
Non-accelerated filer	o	Smaller Reporting Company	o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  o   No  x

As of August 3, 2015, there were 79,552,236 outstanding shares of the issuer’s Common Stock, $0.001 par value.

Table of Contents

		Page
PART I FINANCIAL INFORMATION
	Forward-Looking Statements	3
Item 1.	FINANCIAL STATEMENTS
	Condensed Consolidated Statements of Financial Condition - June 30, 2015 (Unaudited) and December 31, 2014	4
	Condensed Consolidated Statements of Income - Three and Six Months Ended June 30, 2015 and 2014 (Unaudited)	6
	Condensed Consolidated Statements of Comprehensive Income - Three and Six Months Ended June 30, 2015 and 2014 (Unaudited)	7
	Condensed Consolidated Statements of Changes in Stockholders' Equity - Six Months Ended June 30, 2015 and 2014 (Unaudited)	8
	Condensed Consolidated Statements of Cash Flows - Six Months Ended June 30, 2015 and 2014 (Unaudited)	9
	Notes to Condensed Consolidated Financial Statements (Unaudited)	10
Item 2	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	48
Item 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	68
Item 4.	CONTROLS AND PROCEDURES	69
PART II OTHER INFORMATION
Item 1.	Legal Proceedings	70
Item 1A.	Risk Factors	70
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	70
Item 3.	Defaults Upon Senior Securities	70
Item 4.	Mine Safety Disclosures	70
Item 5.	Other Information	70
Item 6.	Exhibits	70
	Signatures	71
	Index to Exhibits	72

2

Forward-Looking Statements

Some statements in this Quarterly Report on Form 10-Q constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to, among other things, expectations regarding the business environment in which we operate, projections of future performance, perceived opportunities in the market and statements regarding our business strategies, objectives and vision. Forward-looking statements include, but are not limited to, statements preceded by, followed by or that include the words “will,” “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates” or similar expressions. With respect to any such forward-looking statements the Company claims the protection provided for in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. Our actual results, performance or achievements may differ significantly from the results, performance or achievements expressed or implied in any forward-looking statements. The risks and uncertainties include: possible deterioration in economic conditions in our areas of operation; interest rate risk associated with volatile interest rates and related asset-liability matching risk; liquidity risks; risk of significant non-earning assets, and net credit losses that could occur, particularly in times of weak economic conditions or times of rising interest rates; and regulatory risks associated with current and future regulations. For additional information concerning these and other risk factors, see Part II, Item 1A. Risk Factors contained herein and Part I, Item 1A. Risk Factors contained in our Annual Report on Form 10-K for the year ended December 31, 2014.

The Company does not undertake, and specifically disclaims any obligation, to update any forward looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law.

3

PART I

FINANCIAL INFORMATION

Item 1. Financial Statements

BBCN BANCORP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
	(Unaudited)
	June 30, 2015		December 31, 2014
ASSETS	(In thousands, except share data)
Cash and cash equivalents:
Cash and due from banks	$	97,224	$	86,119
Interest bearing deposits in other banks	224,042		376,041
Total cash and cash equivalents	321,266		462,160
Securities available for sale, at fair value	875,405		796,523
Loans held for sale, at the lower of cost or fair value	33,785		28,311
Loans receivable (net of allowance for loan losses of $70,118 and $67,758 at June 30, 2015 and December 31, 2014, respectively)	5,745,706		5,497,434
Other real estate owned ("OREO"), net	20,187		21,938
Federal Home Loan Bank ("FHLB") stock, at cost	19,114		28,324
Premises and equipment (net of accumulated depreciation and amortization of $33,295 and $29,915 at June 30, 2015 and December 31, 2014, respectively)	35,321		30,722
Accrued interest receivable	13,781		13,634
Deferred tax assets, net	58,892		63,023
Customers’ liabilities on acceptances	1,359		1,889
Bank owned life insurance ("BOLI")	46,466		45,927
Investments in affordable housing partnerships	11,910		10,401
Goodwill	105,401		105,401
Core deposit intangible assets, net	3,354		3,887
Servicing assets	10,935		10,341
Other assets	30,437		20,415
Total assets	$	7,333,319	$	7,140,330
(Continued)

4

BBCN BANCORP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
	(Unaudited)
	June 30, 2015			December 31, 2014
LIABILITIES AND STOCKHOLDERS’ EQUITY	(In thousands, except share data)
LIABILITIES:
Deposits:
Noninterest bearing	$	1,689,137		$	1,543,018
Interest bearing:
Money market and NOW accounts	1,615,974			1,663,855
Savings deposits	196,998			198,205
Time deposits of $100,000 or more	1,637,673			1,667,367
Other time deposits	618,508			621,007
Total deposits	5,758,290			5,693,452
FHLB advances	580,785			480,975
Subordinated debentures	42,241			42,158
Accrued interest payable	5,954			5,855
Acceptances outstanding	1,359			1,889
Other liabilities	36,102			33,228
Total liabilities	6,424,731			6,257,557
STOCKHOLDERS’ EQUITY:
Common stock, $0.001 par value; authorized 150,000,000 shares at June 30, 2015 and December 31, 2014; issued and outstanding, 79,550,403 and 79,503,552 shares at June 30, 2015 and December 31, 2014, respectively	80			79
Additional paid-in capital	541,091			541,589
Retained earnings	367,792			339,400
Accumulated other comprehensive (loss) income, net	(375		)	1,705
Total stockholders’ equity	908,588			882,773
Total liabilities and stockholders’ equity	$	7,333,319		$	7,140,330

See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited).

5

BBCN BANCORP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
	(In thousands, except per share data)
INTEREST INCOME:
Interest and fees on loans	$	71,249	$	71,687	$	140,888	$	140,381
Interest on securities	4,215		4,078		8,434		8,172
Interest on federal funds sold and other investments	1,611		688		2,307		1,253
Total interest income	77,075		76,453		151,629		149,806
INTEREST EXPENSE:
Interest on deposits	7,970		7,272		15,724		13,962
Interest on FHLB advances	1,327		1,311		2,624		2,522
Interest on other borrowings	387		380		767		867
Total interest expense	9,684		8,963		19,115		17,351
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES	67,391		67,490		132,514		132,455
PROVISION FOR LOAN LOSSES	1,000		2,996		2,500		6,022
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES	66,391		64,494		130,014		126,433
NONINTEREST INCOME:
Service fees on deposit accounts	3,030		3,360		6,092		6,832
International service fees	1,005		1,113		1,818		2,116
Loan servicing fees, net	855		610		1,575		1,578
Wire transfer fees	871		919		1,633		1,824
Other income and fees	1,570		1,648		3,658		3,267
Net gains on sales of SBA loans	3,119		2,811		6,163		5,533
Net gains on sales of other loans	45		—		227		—
Net gains on sales of securities available for sale	—		—		424		—
Net gains losses on sales of OREO	73		31		183		437
Total noninterest income	10,568		10,492		21,773		21,587
NONINTEREST EXPENSE:
Salaries and employee benefits	20,932		18,143		42,113		37,082
Occupancy	4,810		4,715		9,502		9,339
Furniture and equipment	2,323		2,012		4,586		4,026
Advertising and marketing	1,484		1,508		2,875		2,596
Data processing and communication	2,463		2,299		4,812		4,420
Professional fees	1,253		1,315		2,677		2,628
FDIC assessments	909		1,080		2,021		2,103
Credit related expenses	1,976		3,016		4,165		4,437
Other	2,548		3,651		5,181		7,382
Total noninterest expense	38,698		37,739		77,932		74,013
INCOME BEFORE INCOME TAX PROVISION	38,261		37,247		73,855		74,007
INCOME TAX PROVISION	15,320		14,935		29,556		29,499
NET INCOME	$	22,941	$	22,312	44,299		$	44,508
EARNINGS PER COMMON SHARE
Basic	$	0.29	$	0.28	$	0.56	$	0.56
Diluted	$	0.29	$	0.28	$	0.56	$	0.56

See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited).

6

BBCN BANCORP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)
	Three Months Ended June 30,					Six Months Ended June 30,
	2015			2014		2015			2014
	(In thousands)
Net income	$	22,941		$	22,312	$	44,299		$	44,508
Other comprehensive (loss) income:
Unrealized (losses) gains on securities available for sale and interest only strips	(8,446		)	6,655		(3,191		)	17,795
Reclassification adjustments for gains realized in income	—			—		(424		)	—
Tax (benefit) expense	(3,583		)	2,752		(1,535		)	7,448
Change in unrealized gains on securities available for sale and interest only strips	(4,863		)	3,903		(2,080		)	10,347
Total other comprehensive (loss) income	(4,863		)	3,903		(2,080		)	10,347
Total comprehensive income	$	18,078		$	26,215	$	42,219		$	54,855

See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited).

7

BBCN BANCORP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited)
		Common stock
		Shares	Amount		Additional paid-in capital			Retained earnings			Accumulated other comprehensive (loss) income, net
	(Dollars in thousands, except share data)
BALANCE, JANUARY 1, 2014		79,441,525	$	79	$	540,876		$	278,604		$	(10,185	)
Issuance of additional shares pursuant to various stock plans		52,207
Stock-based compensation					297
Cash dividends declared on common stock								(11,917		)
Comprehensive income:
Net income								44,508
Other comprehensive income											10,347
BALANCE, JUNE 30, 2014		79,493,732	$	79	$	541,173		$	311,195		$	162
BALANCE, JANUARY 1, 2015		79,503,552	$	79	$	541,589		$	339,400		$	1,705
Issuance of additional shares pursuant to various stock plans		46,851	1		(22		)
Tax effect of stock plans					46
Stock-based compensation					628
Redemption of common stock warrant					(1,150		)
Cash dividends declared on common stock								(15,907		)
Comprehensive income:
Net income								44,299
Other comprehensive loss											(2,080		)
BALANCE, JUNE 30, 2015		79,550,403	$	80	$	541,091		$	367,792		$	(375	)

See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited).

8

BBCN BANCORP, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
	Six Months Ended June 30,
	2015			2014
	(In thousands)
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	44,299		$	44,508
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, amortization, net of discount accretion	(1,901		)	(10,008		)
Stock-based compensation expense	628			297
Provision for loan losses	2,500			6,022
Valuation adjustment of OREO	631			448
Proceeds from sales of loans held for sale	73,890			68,143
Originations of loans held for sale	(74,496		)	(77,035		)
Net gains on sales of SBA and other loans	(6,390		)	(5,533		)
Net change in BOLI	(539		)	(584		)
Net gains on sales of securities available for sale	(424		)	—
Net gains on sales of OREO	(183		)	(437		)
Loss on disposal of equipment	7			—
Additions in servicing assets	(2,189		)	(1,672		)
Change in accrued interest receivable	(147		)	270
Change in deferred income taxes, net	5,666			9,293
Change in investments in affordable housing partnership	(1,509		)	669
Change in other assets	(9,869		)	11,222
Change in accrued interest payable	99			1,266
Change in other liabilities	2,874			(337		)
Net cash provided by operating activities	32,947			46,532
CASH FLOWS FROM INVESTING ACTIVITIES
Net change in loans receivable	(248,001		)	(261,309		)
Proceeds from sales of securities available for sale	22,510			—
Proceeds from sales of OREO	6,286			5,035
Proceeds from sales of other loans held for sale	3,295			—
Proceeds from sales and disposals of equipment	7			—
Purchase of premises and equipment	(8,121		)	(2,987		)
Purchase of securities available for sale	(176,184		)	(82,552		)
Purchase of FHLB stock	(150		)	(536		)
Redemption of FHLB stock	9,360			78
Proceeds from matured or paid-down securities available for sale	69,227			57,640
Net cash used in investing activities	(321,771		)	(284,631		)
CASH FLOWS FROM FINANCING ACTIVITIES
Net change in deposits	64,962			323,694
Redemption of subordinated debentures	—			(15,464		)
Proceeds from FHLB advances	150,000			40,000
Repayment of FHLB advances	(50,000		)	—
Redemption of common stock warrant	(1,150		)	—
Cash dividends paid on Common Stock	(15,907		)	(11,917		)
Issuance of additional stock pursuant to various stock plans	(21		)	—
Tax effects of issuance of shares from various stock plans	46			—
Net cash provided by financing activities	147,930			336,313
NET CHANGE IN CASH AND CASH EQUIVALENTS	(140,894		)	98,214
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	462,160			316,705
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	321,266		$	414,919
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest paid	$	19,016		$	16,085
Income taxes paid	$	29,873		$	14,245
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES
Transfer from loans receivable to OREO	$	5,142		$	1,368
Transfer from loans receivable to loans held for sale	$	1,773		$	34
Loans to facilitate sales of loans held for sale	$	—		$	5,250

See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited).

9

BBCN BANCORP, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

1. BBCN Bancorp, Inc.

BBCN Bancorp, Inc. ("BBCN Bancorp" on a parent-only basis and the "Company" on a consolidated basis), headquartered in Los Angeles, California, is the holding company for BBCN Bank ("BBCN Bank" or the "Bank"). The Bank has branches in California, New Jersey, and the New York City, Chicago, Seattle and Washington, D.C. metropolitan areas, as well as loan production offices in Atlanta, Dallas, Denver, Northern California, Seattle and Annandale. The Company is a corporation organized under the laws of the state of Delaware and a bank holding company registered under the Bank Holding Company Act of 1956, as amended.

2. Basis of Presentation

The condensed consolidated financial statements included herein have been prepared without an audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”), except for the Condensed Consolidated Statement of Financial Condition as of December 31, 2014 which was derived from audited financial statements included in the Company's 2014 Annual Report on Form 10-K. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such SEC rules and regulations.

The condensed consolidated financial statements include the accounts of BBCN Bancorp and its wholly-owned subsidiaries, principally BBCN Bank. All intercompany transactions and balances have been eliminated in consolidation. The Company has made all adjustments, consisting solely of normal recurring accruals, that in the opinion of management, are necessary to fairly present the Company's financial position at June 30, 2015 and the results of operations for the three and six months then ended. Certain reclassifications have been made to prior period amounts to conform to the current year presentation. The results of operations for the interim periods are not necessarily indicative of results to be anticipated for the full year.

The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are susceptible to change in the near term relate to the determination of the allowance and provision for loan losses, the evaluation of other than temporary impairment of investment securities, accounting for derivatives and hedging activities, the determination of the carrying value for cash surrender value of life insurance, the determination of the carrying value of goodwill and other intangible assets, accounting for deferred tax assets and related valuation allowances, the determination of the fair values of investment securities and other financial instruments, accounting for lease arrangements, accounting for incentive compensation, profit sharing and bonus payments, and the valuation of servicing assets.

These unaudited condensed consolidated financial statements should be read along with the audited consolidated financial statements and accompanying notes included in the Company's 2014 Annual Report on Form 10-K.

Recent Accounting Pronouncements:

FASB ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). This update to the ASC is the culmination of efforts by the FASB and the International Accounting Standards Board (IASB) to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards (IFRS). The core principal of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance in ASU 2014-09 describes a 5-step process entities can apply to achieve the core principle of revenue recognition and requires disclosures sufficient to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers and the significant judgments used in determining that information. The amendments in ASU 2014-9 are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period and early application is not allowed. The adoption of ASU 2014-9 is not expected to have a significant impact on the Company's financial statements.

FASB ASU No. 2015-10, Technical Corrections and Improvements. The amendments in ASU 2015-10 represent changes to clarify the Codification, correct unintended application of guidance, or make minor improvements to the Codification that are not expected to have significant effect on current accounting practice or create a significant administrative cost to most entities. The amendments that require transition guidance are effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2015. The adoption of ASU 2015-10 is not expected to have a significant impact on the Company's financial statements.

10

3. Stock-Based Compensation

The Company has a stock-based incentive plan, the 2007 BBCN Bancorp Equity Incentive Plan (the “2007 Plan”). The 2007 Plan, approved by the Company's stockholders on May 31, 2007, was amended and restated on July 25, 2007 and again on December 1, 2011. The 2007 Plan provides for grants of stock options, stock appreciation rights (“SARs”), restricted stock, performance shares and performance units (sometimes referred to individually or collectively as “awards”) to non-employee directors, officers, employees and consultants of the Company. Stock options may be either incentive stock options (“ISOs”), as defined in Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), or nonqualified stock options (“NQSOs”).

The 2007 Plan gives the Company flexibility to (i) attract and retain qualified non-employee directors, executives and other key employees and consultants with appropriate equity-based awards; (ii) motivate high levels of performance; (iii) recognize employee contributions to the Company’s success; and (iv) align the interests of the 2007 Plan participants with those of the Company’s stockholders. The exercise price for shares under an ISO may not be less than 100% of fair market value on the date the award is granted under Code Section 422. Similarly, under the terms of the 2007 Plan the exercise price for SARs and NQSOs may not be less than 100% of fair market value on the date of grant. Performance units are awarded to a participant at the market price of the Company’s common stock on the date of award (after the lapse of the restriction period and the attainment of the performance criteria). No minimum exercise price is prescribed for performance shares and restricted stock awarded under the 2007 Plan.

ISOs, SARs and NQSOs have vesting periods of three to five years and have 10-year contractual terms. Restricted stock, performance shares, and performance units will be granted with a restriction period of not less than one year from the grant date for performance-based awards and not more than three years from the grant date for time-based vesting of grants. Compensation expense for awards is recognized over the vesting period.

The Company has another stock-based incentive plan, the 2006 Stock Incentive Plan, adopted April 12, 2006, as amended and restated June 13, 2007 (the "2006 Plan"). The 2006 Plan provides for the granting of incentive stock options to officers and employees and non-qualified stock options and restricted stock awards to employees (including officers) and non-employee directors. The option prices of all options granted under the 2006 Plan must be not less than 100% of the fair market value at the date of grant. All options granted generally vest at the rate of 20% per year except that the options granted to the non-employee directors vest at the rate of 33% per year. All options not exercised generally expire ten years after the date of grant.

Under the 2007 Plan and 2006 Plan, 2,495,362 shares were available for future grants as of June 30, 2015.

The total shares reserved for issuance will serve as the underlying value for all equity awards under the 2007 Plan and 2006 Plan. With the exception of the shares underlying stock options and restricted stock awards, the board of directors may choose to settle the awards by paying the equivalent cash value or by delivering the appropriate number of shares.

11

The following is a summary of stock option activity under the 2007 Plan and 2006 Plan for the six months ended June 30, 2015:

	Number of Shares		Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Outstanding - January 1, 2015	591,652		$	19.00
Granted	—		—
Exercised	—		—
Expired	(3,902	)	25.94
Forfeited	—		—
Outstanding - June 30, 2015	587,750		$	18.93	2.22	$	—
Options exercisable - June 30, 2015	417,750		$	20.19	2.22	$	—

The following is a summary of restricted and performance unit activity under the 2007 Plan and 2006 Plan for the six months ended June 30, 2015:

	Number of Shares		Weighted- Average Grant Date Fair Value
Outstanding - January 1, 2015	175,668		$	13.52
Granted	15,000		14.11
Vested	(53,083	)	12.20
Forfeited	(2,288	)	14.38
Outstanding - June 30, 2015	135,297		$	14.07

The total fair value of restricted performance units vested for the six months ended June 30, 2015 and 2014 was $725 thousand and $862 thousand, respectively.

The amount charged against income related to stock-based payment arrangements was $420 thousand and $184 thousand for the three months ended June 30, 2015 and 2014, respectively. For the six months ended June 30, 2015 and 2014, $628 thousand and $297 thousand, respectively, of stock-based payment arrangements were charged against income.

The income tax benefit recognized was $168 thousand and $74 thousand for the three months ended June 30, 2015 and 2014, respectively, and the amount recognized was $251 thousand and $115 thousand for the six months ended June 30, 2015 and 2014, respectively.

At June 30, 2015, the unrecognized compensation expense related to non-vested stock option grants was $756 thousand which is expected to be recognized over a weighted average vesting period of 3.80 years. At June 30, 2015, the unrecognized compensation expense related to non-vested restricted units and performance units was $1.6 million which is expected to be recognized over a weighted average vesting period of 3.07 years.

12

4. Earnings Per Share (“EPS”)

Basic EPS does not reflect the possibility of dilution that could result from the issuance of additional shares of common stock upon exercise or conversion of outstanding securities, and is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if stock options or other contracts to issue common stock were exercised or converted to common stock that would then share in our earnings. For the three months ended June 30, 2015 stock options and restricted shares awards for 596,982 shares of common stock were excluded in computing diluted earnings per common share because they were antidilutive. For the six months period ended June 30, 2015, stock options and restricted share awards for 595,209 shares of common stock were excluded in computing diluted earnings per common share because they were antidilutive. Additionally, warrants issued pursuant to the Company's participation in the U.S. Treasury's TARP Capital Purchase Plan, to purchase 19,013 shares and 18,482 shares of common stock were antidilutive and excluded for the three and six months ended June 30, 2015 and 2014, respectively.

The following tables show the computation of basic and diluted EPS for the three months and six months ended June 30, 2015 and 2014.

	Three Months Ended June 30,
	2015					2014
	Net income (Numerator)		Weighted-Average Shares (Denominator)	Per Share (Amount)		Net income (Numerator)		Weighted-Average Shares (Denominator)	Per Share (Amount)
	(In thousands, except share and per share data)
Basic EPS - common stock	$	22,941	79,549,097	$	0.29	$	22,312	79,490,767	$	0.28
Effect of dilutive securities:
Stock options and performance units			20,778					40,119
Common stock warrants			38,530					83,160
Diluted EPS - common stock	$	22,941	79,608,405	$	0.29	$	22,312	79,614,046	$	0.28

	Six Months Ended June 30,
	2015					2014
	Net income available to common stockholders (Numerator)		Weighted-Average Shares (Denominator)	Per Share (Amount)		Net income available to common stockholders (Numerator)		Weighted-Average Shares (Denominator)	Per Share (Amount)
	(In thousands, except share and per share data)
Basic EPS - common stock	$	44,299	79,539,789	$	0.56	$	44,508	79,481,359	$	0.56
Effect of Dilutive Securities:
Stock Options and Performance Units			24,155					49,132
Common stock warrants			46,712					87,955
Diluted EPS - common stock	$	44,299	79,610,656	$	0.56	$	44,508	79,618,446	$	0.56

13

5.    Securities Available for Sale

The following is a summary of securities available for sale as of the dates indicated:

	At June 30, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(In thousands)
Debt securities:
U.S. Government agency and U.S. Government sponsored enterprises
Collateralized mortgage obligations	$	363,759	$	1,774	$	(3,380	)	$	362,153
Mortgage-backed securities	450,974		4,211		(2,858		)	452,327
Trust preferred securities	4,538		—		(575		)	3,963
Municipal bonds	39,672		438		(441		)	39,669
Total debt securities	858,943		6,423		(7,254		)	858,112
Mutual funds	17,425		—		(132		)	17,293
	$	876,368	$	6,423	$	(7,386	)	$	875,405
	At December 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(In thousands)
Debt securities:
U.S. Government agency and U.S. Government sponsored enterprises
Collateralized mortgage obligations	$	304,947	$	1,376	$	(3,549	)	$	302,774
Mortgage-backed securities	460,487		6,528		(1,526		)	465,489
Trust preferred securities	4,531		—		(544		)	3,987
Municipal bonds	6,487		443		—			6,930
Total debt securities	776,452		8,347		(5,619		)	779,180
Mutual funds	17,425		—		(82		)	17,343
	$	793,877	$	8,347	$	(5,701	)	$	796,523

As of June 30, 2015 and December 31, 2014, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of stockholders' equity.

For the three months ended June 30, 2015 and 2014, $8.4 million of unrealized losses and $6.7 million of unrealized gains, respectively, were included in accumulated other comprehensive loss. For the six months ended June 30, 2015 and 2014, $3.2 million of unrealized losses and $17.8 million of unrealized gains, respectively, were included in accumulated other comprehensive loss. There were no gains or losses reclassified out of accumulated other comprehensive loss for the three months ended June 30, 2015 and 2014. A total of $424 thousand and $0 of net gains on sales of securities were reclassified out of accumulated other comprehensive loss into earnings for the six months ended June 30, 2015 and 2014, respectively.

The proceeds from sales of securities and the associated gross gains and losses recorded in earnings are listed below:

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
	(In thousands)
Proceeds	$	—	$	—	$	22,510	$	—
Gross gains	—		—		424		—
Gross losses	—		—		—		—

14

The amortized cost and estimated fair value of debt securities at June 30, 2015, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.

	Amortized Cost		Estimated Fair Value
	(In thousands)
Available for sale:
Due within one year	$	340	$	340
Due after one year through five years	882		959
Due after five years through ten years	23,894		24,024
Due after ten years	19,094		18,309
U.S. Government agency and U.S. Government sponsored enterprises
Collateralized mortgage obligations	363,759		362,153
Mortgage-backed securities	450,974		452,327
Mutual funds	17,425		17,293
	$	876,368	$	875,405

Securities with carrying values of approximately $339.1 million and $366.2 million at June 30, 2015 and December 31, 2014, respectively, were pledged to secure public deposits, various borrowings and for other purposes as required or permitted by law.

The following tables show our investments’ gross unrealized losses and estimated fair value, aggregated by investment category and the length of time that the individual securities have been in a continuous unrealized loss position as of the dates indicated.

	As of June 30, 2015
	Less than 12 months						12 months or longer						Total
Description of Securities	Number of Securities	Fair Value		Gross Unrealized Losses			Number of Securities	Fair Value		Gross Unrealized Losses			Number of Securities	Fair Value		Gross Unrealized Losses
	(In thousands)
Collateralized mortgage obligations*	12	$	102,215	$	(1,000	)	9	$	84,821	$	(2,380	)	21	$	187,036	$	(3,380	)
Mortgage-backed securities*	20	182,162		(1,236		)	3	28,929		(1,622		)	23	211,091		(2,858		)
Trust preferred securities	—	—		—			1	3,963		(575		)	1	3,963		(575		)
Municipal bonds	63	29,867		(441		)	—	—		—			63	29,867		(441		)
Mutual funds	1	13,293		(132		)	—	—		—			1	13,293		(132		)
	96	$	327,537	$	(2,809	)	13	$	117,713	$	(4,577	)	109	$	445,250	$	(7,386	)

* Investments in U.S. Government agency and U.S. Government sponsored enterprises

15

	As of December 31, 2014
	Less than 12 months						12 months or longer						Total
Description of Securities	Number of Securities	Fair Value		Gross Unrealized Losses			Number of Securities	Fair Value		Gross Unrealized Losses			Number of Securities	Fair Value		Gross Unrealized Losses
	(In thousands)
Collateralized mortgage obligations*	7	$	71,189	$	(507	)	13	$	133,563	$	(3,042	)	20	$	204,752	$	(3,549	)
Mortgage-backed securities*	7	38,133		(139		)	6	62,036		(1,387		)	13	100,169		(1,526		)
Trust Preferred securities	—	—		—			1	3,988		(544		)	1	3,988		(544		)
Mutual funds	—	—		—			1	13,343		(82		)	1	13,343		(82		)
	14	$	109,322	$	(646	)	21	$	212,930	$	(5,055	)	35	$	322,252	$	(5,701	)

* Investments in U.S. Government agency and U.S. Government sponsored enterprises

The Company evaluates securities for other-than-temporary-impairment ("OTTI") on at least a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to the financial condition and near-term prospects of the issuer, the length of time and the extent to which the fair values of the securities have been less than the cost of the securities, and management's intention to sell, or whether it is more likely than not that management will be required to sell a security in an unrealized loss position before recovery of its amortized cost basis. In analyzing an issuer’s financial condition, the Company considers, among other considerations, whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuer’s financial condition.

The Company has certain collateralized mortgage obligations, mortgage-backed securities and trust preferred securities that were in a continuous unrealized loss position for twelve months or longer as of June 30, 2015. The trust preferred securities at June 30, 2015 had an amortized cost of $4.5 million and an unrealized loss of $575 thousand at June 30, 2015. The trust preferred securities are scheduled to mature in May 2047. These securities were rated investment grade and there were no credit quality concerns with the obligor. The collateralized mortgage obligations and mortgage-backed securities in a continuous loss position for twelve months or longer had an unrealized loss of $2.4 million and $1.6 million, respectively at June 30, 2015. These securities were issued by U.S. Government agency and U.S. Government sponsored enterprises and have high credit ratings of "AA" grade or better. Interest on the trust preferred securities and the U.S. Government agency and U.S. Government sponsored enterprise investments have been paid as agreed, and management believes this will continue in the future and that the securities will be repaid in full as scheduled. The market value declines for these securities were primarily due to movements in interest rates and are not reflective of management’s expectations of the Company's ability to fully recover these investments, which may be at maturity. For these reasons, no OTTI was recognized on the trust preferred securities and the U.S. Government agency and U.S. Government sponsored collateralized mortgage obligations and mortgage-backed securities that are in an unrealized loss position at June 30, 2015.

The Company considers the losses on the investments in unrealized loss positions at June 30, 2015 to be temporary based on: 1) the likelihood of recovery; 2) the information relative to the extent and duration of the decline in market value; and 3) the Company’s intention not to sell, and management's determination that it is more likely than not that the Company will not be required to sell a security in an unrealized loss position before recovery of its amortized cost basis.

16

6. Loans Receivable and Allowance for Loan Losses

The following is a summary of loans receivable by major category:

	June 30, 2015			December 31, 2014
	(In thousands)
Loan portfolio composition
Real estate loans:
Residential	$	36,706		$	21,415
Commercial & industrial	4,503,794			4,324,349
Construction	104,901			94,086
Total real estate loans	4,645,401			4,439,850
Commercial business	970,787			903,621
Trade finance	114,927			134,762
Consumer and other	87,707			89,849
Total loans outstanding	5,818,822			5,568,082
Less: deferred loan fees	(2,998		)	(2,890		)
Loans receivable	5,815,824			5,565,192
Less: allowance for loan losses	(70,118		)	(67,758		)
Loans receivable, net of allowance for loan losses	$	5,745,706		$	5,497,434

The loan portfolio is made up of four segments: real estate loans, commercial business, trade finance and consumer and other. These segments are further segregated between loans accounted for under the amortized cost method ("Legacy Loans") and acquired loans that were originally recorded at fair value with no carryover of the related pre-acquisition allowance for loan losses ("Acquired Loans"). Acquired Loans are further segregated between Acquired Credit Impaired Loans (loans with credit deterioration on the acquisition date and accounted for under ASC 310-30, or "ACILs") and Acquired Performing Loans (loans that were pass graded on the acquisition date and the fair value adjustment is amortized over the contractual life under ASC 310-20, or "APLs").

The following table presents changes in the accretable discount on the ACILs for the three and six months ended June 30, 2015 and 2014:

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(In thousands)
Balance at beginning of period	$	22,645		$	32,583		$	24,051		$	47,398
Accretion	(3,096		)	(4,197		)	(6,232		)	(9,064		)
Changes in expected cash flows	1,840			(102		)	3,570			(10,050		)
Balance at end of period	$	21,389		$	28,284		$	21,389		$	28,284

On the acquisition date, the amount by which the undiscounted expected cash flows exceed the estimated fair value of the ACILs is the “accretable yield.” The accretable yield is then measured at each financial reporting date and represents the difference between the remaining undiscounted expected cash flows and the current carrying value of the loans. The accretable yield will change from period to period due to the following: 1) estimates of the remaining life of acquired loans will affect the amount of future interest income; 2) indices for variable rates of interest on ACILs may change; and 3) estimates of the amount of the contractual principal and interest that will not be collected (nonaccretable difference) may change.

17

The following tables detail the activity in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2015 and 2014:

	Legacy												Acquired											Total
	Real Estate			Commercial Business			Trade Finance			Consumer and Other			Real Estate			Commercial Business			Trade Finance		Consumer and Other
	(In thousands)
Three Months Ended June 30, 2015
Balance, beginning of period	$	35,772		$	16,168		$	3,041		$	416		$	13,724		$	422		$	—	$	51		$	69,594
Provision (credit) for loan losses	1,224			(751		)	(522		)	521			280			240			—		8			1,000
Loans charged off	(61		)	(448		)	(759		)	—			(13		)	(170		)	—		—			(1,451		)
Recoveries of charge offs	61			809			—			92			—			8			—		5			975
Balance, end of period	$	36,996		$	15,778		$	1,760		$	1,029		$	13,991		$	500		$	—	$	64		$	70,118
Six Months Ended June 30, 2015
Balance, beginning of period	$	38,775		$	15,986		$	3,456		$	427		$	8,573		$	485		$	—	$	56		$	67,758
Provision (credit) for loan losses	(2,398		)	(773		)	(709		)	523			5,590			262			—		5			2,500
Loans charged off	(242		)	(899		)	(987		)	(15		)	(172		)	(257		)	—		(4		)	(2,576		)
Recoveries of charge offs	861			1,464			—			94			0			10			—		7			2,436
Balance, end of period	$	36,996		$	15,778		$	1,760		$	1,029		$	13,991		$	500		$	—	$	64		$	70,118

	Legacy												Acquired											Total
	Real Estate			Commercial Business			Trade Finance			Consumer and Other			Real Estate			Commercial Business			Trade Finance		Consumer and Other
	(In thousands)
Three Months Ended June 30, 2014
Balance, beginning of period	$	38,586		$	16,208		$	2,944		$	467		$	6,838		$	593		$	—	$	63		$	65,699
Provision (credit) for loan losses	1,066			(336		)	1,624			(69		)	622			88			—		1			2,996
Loans charged off	(726		)	(1,794		)	—			(18		)	(188		)	(45		)	—		—			(2,771		)
Recoveries of charge offs	132			581			—			211			17			3			—		2			946
Balance, end of period	$	39,058		$	14,659		$	4,568		$	591		$	7,289		$	639		$	—	$	66		$	66,870
Six Months Ended June 30, 2014
Balance, beginning of period	$	40,068		$	16,796		$	2,653		$	461		$	6,482		$	796		$	—	$	64		$	67,320
Provision (credit) for loan losses	(348		)	2,211			1,972			(62		)	1,073			1,099			—		77			6,022
Loans charged off	(813		)	(5,519		)	(57		)	(19		)	(283		)	(1,265		)	—		(78		)	(8,034		)
Recoveries of charge offs	151			1,171			—			211			17			9			—		3			1,562
Balance, end of period	$	39,058		$	14,659		$	4,568		$	591		$	7,289		$	639		$	—	$	66		$	66,870

18

The following tables disaggregate the allowance for loan losses and the loans outstanding by impairment methodology at June 30, 2015 and December 31, 2014:

	June 30, 2015
	Legacy								Acquired								Total
	Real Estate		Commercial Business		Trade Finance		Consumer and Other		Real Estate		Commercial Business		Trade Finance		Consumer and Other
	(In thousands)
Allowance for loan losses:
Individually evaluated for impairment	$	1,783	$	4,383	$	320	$	615	$	591	$	373	$	—	$	—	$	8,065
Collectively evaluated for impairment	35,213		11,395		1,440		414		753		127		—		64		49,406
ACILs	—		—		—		—		12,647		—		—		—		12,647
Total	$	36,996	$	15,778	$	1,760	$	1,029	$	13,991	$	500	$	—	$	64	$	70,118
Loans outstanding:
Individually evaluated for impairment	$	54,022	$	36,403	$	6,670	$	1,067	$	18,323	$	1,641	$	—	$	572	$	118,698
Collectively evaluated for impairment	4,171,701		875,857		108,257		41,031		313,877		30,425		—		23,323		5,564,471
ACILs	—		—		—		—		87,478		26,461		—		21,714		135,653
Total	$	4,225,723	$	912,260	$	114,927	$	42,098	$	419,678	$	58,527	$	—	$	45,609	$	5,818,822

	December 31, 2014
	Legacy								Acquired								Total
	Real Estate		Commercial Business		Trade Finance		Consumer and Other		Real Estate		Commercial Business		Trade Finance		Consumer and Other
	(In thousands)
Allowance for loan losses:
Individually evaluated for impairment	$	1,940	$	6,929	$	1,312	$	—	$	434	$	307	$	—	$	—	$	10,922
Collectively evaluated for impairment	36,835		9,057		2,144		427		792		178		—		56		49,489
ACILs	—		—		—		—		7,347		—		—		—		7,347
Total	$	38,775	$	15,986	$	3,456	$	427	$	8,573	$	485	$	—	$	56	$	67,758
Loans outstanding:
Individually evaluated for impairment	$	57,506	$	40,829	$	5,936	$	465	$	20,035	$	1,778	$	—	$	596	$	127,145
Collectively evaluated for impairment	3,864,289		784,407		128,826		37,312		397,147		43,460		—		25,859		5,281,300
ACILs	—		—		—		—		100,873		33,147		—		25,617		159,637
Total	$	3,921,795	$	825,236	$	134,762	$	37,777	$	518,055	$	78,385	$	—	$	52,072	$	5,568,082

As of June 30, 2015 and December 31, 2014, the liability for unfunded commitments was $1.4 million and $1.6 million, respectively. For the three months ended June 30, 2015 and 2014, the recognized credit or provision for credit losses related to unfunded commitments was $95 thousand and $547 thousand, respectively. For the six months ended June 30, 2015 and 2014, the recognized (benefit) provision for credit losses related to unfunded commitments was $(146) thousand and $588 thousand, respectively.

19

The recorded investment in individually impaired loans was as follows:

	June 30, 2015			December 31, 2014
	(In thousands)
With allocated allowance
Without charge off	$	65,343		$	67,352
With charge off	1,184			6,582
With no allocated allowance
Without charge off	48,001			46,885
With charge off	4,170			6,326
Allowance on impaired loans	(8,065		)	(10,922		)
Impaired loans, net of allowance	$	110,633		$	116,223

20

The following tables detail impaired loans (Legacy and APLs that became impaired subsequent to being acquired) as of June 30, 2015 and December 31, 2014 and for the three and six months ended June 30, 2015 and 2014 and for the year ended December 31, 2014. Loans with no related allowance for loan losses are believed by management to have adequate collateral securing their carrying value.

	As of June 30, 2015						For the Six Months Ended June 30, 2015				For the Three Months Ended June 30, 2015
Total Impaired Loans	Recorded Investment*		Unpaid Contractual Principal Balance		Related Allowance		Average Recorded Investment*		Interest Income Recognized during Impairment		Average Recorded Investment*		Interest Income Recognized during Impairment
	(In thousands)
With related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	4,419		4,615		243		4,411		88		4,165		44
Hotel & motel	11,416		11,422		326		12,134		258		11,500		129
Gas station & car wash	1,719		1,928		341		1,479		29		1,266		15
Mixed use	481		497		9		481				481
Industrial & warehouse	4,434		4,434		12		4,489		84		5,678		42
Other	8,779		9,665		1,443		8,823		176		8,344		88
Real estate—construction	—		—		—		—		—		—		—
Commercial business	29,648		29,961		4,756		32,453		579		30,030		286
Trade finance	5,016		5,016		320		4,678		108		4,990		54
Consumer and other	615		615		615		209		—		314		—
	$	66,527	$	68,153	$	8,065	$	69,157	$	1,322	$	66,768	$	658
With no related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	9,197		10,932		—		10,260		167		9,536		84
Hotel & motel	6,522		8,600		—		6,122		7		6,187		3
Gas station & car wash	3,682		6,205		—		3,391		22		3,739		11
Mixed use	3,482		3,876		—		2,356		21		2,740		10
Industrial & warehouse	9,264		12,932		—		11,033		154		9,362		77
Other	8,950		10,675		—		8,730		77		9,554		40
Real estate—construction	—		—		—		1,000		—		740		—
Commercial business	8,395		10,562		—		8,104		81		9,502		41
Trade finance	1,654		5,000		—		1,643		—		1,524		—
Consumer and other	1,025		1,094		—		1,064		13		1,066		7
	$	52,171	$	69,876	$	—	$	53,703	$	542	$	53,950	$	273
Total	$	118,698	$	138,029	$	8,065	$	122,860	$	1,864	$	120,718	$	931

* Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

21

	For the Six Months Ended June 30, 2014				For the Three Months Ended June 30, 2014
Total Impaired Loans	Average Recorded Investment*		Interest Income Recognized during Impairment		Average Recorded Investment*		Interest Income Recognized during Impairment
	(In thousands)
With related allowance:
Real estate—residential	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	5,238		46		4,198		27
Hotel & motel	11,771		266		11,696		133
Gas station & car wash	2,774		38		2,589		19
Mixed use	1,049		20		1,109		10
Industrial & warehouse	9,104		151		7,456		76
Other	9,353		166		8,898		82
Real estate—construction	—		—		—		—
Commercial business	30,875		594		28,981		310
Trade finance	6,526		99		6,990		51
Consumer and other	178		—		—		—
	$	76,868	$	1,380	$	71,917	$	708
With no related allowance:
Real estate—residential	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	6,875		124		8,300		62
Hotel & motel	6,480		—		6,468		—
Gas station & car wash	4,820		—		4,808		—
Mixed use	1,143		—		1,292		—
Industrial & warehouse	7,528		160		9,389		83
Other	4,401		56		5,828		30
Real estate—construction	1,606		42		1,596		21
Commercial business	9,345		138		11,296		75
Trade finance	453		—		634		—
Consumer and other	1,234		15		1,468		8
	$	43,885	$	535	$	51,079	$	279
Total	$	120,753	$	1,915	$	122,996	$	987

* Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

22

	As of June 30, 2015						For the Six Months Ended June 30, 2015				For the Three Months Ended June 30, 2015
Impaired APLs	Recorded Investment*		Unpaid Contractual Principal Balance		Related Allowance		Average Recorded Investment*		Interest Income Recognized during Impairment		Average Recorded Investment*		Interest Income Recognized during Impairment
	(In thousands)
With related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	2,579		2,568		185		2,278		74		2,591		37
Hotel & motel	—		—		—		—		—		—		—
Gas station & car wash	1,719		1,928		341		1,398		29		1,215		15
Mixed use	352		348		2		352		—		352		—
Industrial & warehouse	—		—		—		120		—		180		—
Other	1,288		1,575		62		1,123		8		803		4
Real estate—construction	—		—		—		—		—		—		—
Commercial business	736		884		373		721		9		697		4
Trade finance	—		—		—		—		—		—		—
Consumer and other	—		—		—		1		—		1		—
	$	6,674	$	7,303	$	963	$	5,993	$	120	$	5,839	$	60
With no related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	1,370		1,479		—		2,037		7		1,476		3
Hotel & motel	5,730		7,779		—		5,613		7		5,624		3
Gas station & car wash	—		—		—		347		—		516		—
Mixed use	279		444		—		167		2		251		1
Industrial & warehouse	1,125		1,221		—		1,362		2		1,174		1
Other	3,881		4,906		—		4,287		21		4,426		10
Real estate—construction	—		—		—		—		—		—		—
Commercial business	904		1,664		—		982		33		968		17
Trade finance	—		—		—		—		—		—		—
Consumer and other	573		642		—		606		4		611		2
	$	13,862	$	18,135	$	—	$	15,401	$	76	$	15,046	$	37
Total	$	20,536	$	25,438	$	963	$	21,394	$	196	$	20,885	$	97

* Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

23

	For the Six Months Ended June 30, 2014				For the Three Months Ended June 30, 2014
Impaired APLs	Average Recorded Investment*		Interest Income Recognized during Impairment		Average Recorded Investment*		Interest Income Recognized during Impairment
	(In thousands)
With related allowance:
Real estate—residential	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	264		—		201		—
Hotel & motel	—		—		—		—
Gas station & car wash	1,791		30		2,289		15
Mixed use	118		—		177		—
Industrial & warehouse	1,709		—		—		—
Other	1,054		4		899		2
Real estate—construction	—		—		—		—
Commercial business	1,240		4		868		3
Trade finance	—		—		—		—
Consumer and other	—		—		—		—
	$	6,176	$	38	$	4,434	$	20
With no related allowance:
Real estate—residential	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	1,549		15		1,702		7
Hotel & motel	6,379		—		6,347		—
Gas station & car wash	1,029		—		736		—
Mixed use	307		—		460		—
Industrial & warehouse	3,281		5		3,981		2
Other	3,396		20		4,526		12
Real estate—construction	—		—		—		—
Commercial business	1,505		10		1,853		7
Trade finance	—		—		—		—
Consumer and other	887		4		947		2
	$	18,333	$	54	$	20,552	$	30
Total	$	24,509	$	92	$	24,986	$	50

* Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

24

	As of December 31, 2014						For the Year Ended December 31, 2014
Total Impaired Loans	Recorded Investment*		Unpaid Contractual Principal Balance		Related Allowance		Average Recorded Investment*		Interest Income Recognized during Impairment
	(In thousands)
With related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	4,902		5,288		390		5,205		127
Hotel & motel	13,401		14,548		469		12,053		532
Gas station & car wash	1,904		3,507		379		2,440		60
Mixed use	482		497		13		823		—
Industrial & warehouse	2,111		2,126		13		7,309		119
Other	9,781		10,389		1,110		9,709		355
Real estate—construction	—		—		—		—		—
Commercial business	37,300		38,730		7,236		32,798		1,502
Trade finance	4,053		11,310		1,312		6,647		—
Consumer and other	—		—		—		114		—
	$	73,934	$	86,395	$	10,922	$	77,098	$	2,695
With no related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	11,708		13,492		—		8,462		358
Hotel & motel	5,992		8,728		—		6,655		—
Gas station & car wash	2,693		4,065		—		4,139		44
Mixed use	1,589		1,697		—		1,415		39
Industrial & warehouse	14,374		17,940		—		9,311		494
Other	7,083		9,886		—		5,118		93
Real estate—construction	1,521		1,545		—		1,583		—
Commercial business	5,307		6,880		—		8,349		50
Trade finance	1,883		5,000		—		724		—
Consumer and other	1,061		1,118		—		1,168		28
	$	53,211	$	70,351	$	—	$	46,924	$	1,106
Total	$	127,145	$	156,746	$	10,922	$	124,022	$	3,801

* Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

25

	As of December 31, 2014						For the Year Ended December 31, 2014
Impaired APLs	Recorded Investment*		Unpaid Contractual Principal Balance		Related Allowance		Average Recorded Investment*		Interest Income Recognized during Impairment
	(In thousands)
With related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	1,653		1,638		36		838		97
Hotel & motel	—		—		—		—		—
Gas station & car wash	1,762		1,953		379		1,783		60
Mixed use	352		348		2		212		—
Industrial & warehouse	—		—		—		1,026		—
Other	1,763		2,016		17		1,134		5
Real estate—construction	—		—		—		—		—
Commercial business	769		928		307		1,090		15
Trade finance	—		—		—		—		—
Consumer and other	—		—		—		—		—
	$	6,299	$	6,883	$	741	$	6,083	$	177
With no related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	3,158		3,376		—		1,869		27
Hotel & motel	5,591		7,493		—		6,067		—
Gas station & car wash	9		297		—		621		—
Mixed use	—		—		—		275		—
Industrial & warehouse	1,737		1,954		—		2,673		39
Other	4,009		5,174		—		3,798		41
Real estate—construction	—		—		—		—		—
Commercial business	1,009		1,758		—		1,321		4
Trade finance	—		—		—		—		—
Consumer and other	596		652		—		772		8
	$	16,109	$	20,704	$	—	$	17,396	$	119
Total	$	22,408	$	27,587	$	741	$	23,479	$	296

* Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

Generally, loans are placed on nonaccrual status if principal or interest payments become 90 days past due and/or management deems the collectibility of the principal and/or interest to be in question, as well as when required by regulatory requirements. Loans to a customer whose financial condition has deteriorated are considered for nonaccrual status whether or not the loan is 90 days or more past due. Generally, payments received on nonaccrual loans are recorded as principal reductions. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

26

The following tables present the aging of past due loans as of June 30, 2015 and December 31, 2014 by class of loans:

	As of June 30, 2015
	Past Due and Accruing
	30-59 Days Past Due		60-89 Days Past Due		90 or More Days Past Due		Total		Nonaccrual Loans (2)		Total Delinquent Loans
	(In thousands)
Legacy Loans:
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	901		225		—		1,126		2,558		3,684
Hotel & motel	—		—		—		—		945		945
Gas station & car wash	—		567		333		900		2,971		3,871
Mixed use	—		434		—		434		2,552		2,986
Industrial & warehouse	—		113		—		113		1,220		1,333
Other	—		—		—		—		2,831		2,831
Real estate—construction	—		—		—		—		—		—
Commercial business	594		207		—		801		9,431		10,232
Trade finance	1,933		—		—		1,933		1,954		3,887
Consumer and other	29		—		—		29		870		899
Subtotal	$	3,457	$	1,546	$	333	$	5,336	$	25,332	$	30,668
Acquired Loans: (1)
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	1,442		68		—		1,510		1,334		2,844
Hotel & motel	—		286		—		286		5,448		5,734
Gas station & car wash	—		—		—		—		695		695
Mixed use	—		47		—		47		567		614
Industrial & warehouse	—		—		—		—		1,053		1,053
Other	—		—		—		—		3,748		3,748
Real estate—construction	105		228		—		333		646		979
Commercial business	—		—		—		—		—		—
Trade finance	—		—		—		—		—		—
Consumer and other	6		—		—		6		858		864
Subtotal	$	1,553	$	629	$	—	$	2,182	$	14,349	$	16,531
TOTAL	$	5,010	$	2,175	$	333	$	7,518	$	39,681	$	47,199

⁽¹⁾  The Acquired Loans exclude ACILs.

⁽²⁾  Nonaccrual loans exclude the guaranteed portion of delinquent SBA loans that are in liquidation totaling $22.6 million.

27

	As of December 31, 2014
	Past Due and Accruing
	30-59 Days Past Due		60-89 Days Past Due		90 or More Days Past Due		Total		Nonaccrual Loans (2)		Total Delinquent Loans
	(In Thousands)
Legacy Loans:
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	201		351		—		552		4,586		5,138
Hotel & motel	299		—		—		299		2,336		2,635
Gas station & car wash	—		—		—		—		2,105		2,105
Mixed use	437		—		—		437		930		1,367
Industrial & warehouse	—		208		—		208		2,335		2,543
Other	455		524		—		979		2,150		3,129
Real estate—construction	—		—		—		—		1,521		1,521
Commercial business	655		729		—		1,384		9,640		11,024
Trade finance	—		—		—		—		3,194		3,194
Consumer and other	36		—		—		36		18		54
Subtotal	$	2,083	$	1,812	$	—	$	3,895	$	28,815	$	32,710
Acquired Loans: (1)
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	1,402		—		—		1,402		2,792		4,194
Hotel & motel	—		—		—		—		5,591		5,591
Gas station & car wash	—		—		—		—		736		736
Mixed use	345		—		—		345		352		697
Industrial & warehouse	—		—		361		361		1,185		1,546
Other	—		—		—		—		4,370		4,370
Real estate—construction	—		—		—		—		—		—
Commercial business	36		347		—		383		1,468		1,851
Trade finance	—		—		—		—		—		—
Consumer and other	23		90		—		113		1,044		1,157
Subtotal	$	1,806	$	437	$	361	$	2,604	$	17,538	$	20,142
TOTAL	$	3,889	$	2,249	$	361	$	6,499	$	46,353	$	52,852

⁽¹⁾  The Acquired Loans exclude ACILs.

⁽²⁾  Nonaccrual loans exclude guaranteed portion of delinquent SBA loans that are in liquidation totaling $28.9 million.

Loans accounted for under ASC 310-30 are generally considered accruing and performing loans and the accretable discount is accreted to interest income over the estimated life of the loan when cash flows are reasonably estimable. Accordingly, ACILs that are contractually past due are still considered to be accruing and performing loans. The loans may be classified as nonaccrual if the timing and amount of future cash flows is not reasonably estimable.

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, including, but not limited to, current financial information, historical payment experience, credit documentation, public information, and current economic trends. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis includes all non-homogeneous loans. This analysis is performed at least on a quarterly basis. The definitions for risk ratings are as follows:

• Pass: Loans that meet a preponderance or more of the Company's underwriting criteria and evidence an acceptable level of risk.

• Special Mention: Loans that have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date.

28

• Substandard: Loans that are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the repayment of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

• Doubtful/Loss: Loans that have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or repayment in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

The following tables present the risk rating for Legacy Loans and Acquired Loans as of June 30, 2015 and December 31, 2014 by class of loans:

	As of June 30, 2015
	Pass		Special Mention		Substandard		Doubtful/Loss		Total
	(In thousands)
Legacy Loans:
Real estate—residential	$	35,985	$	—	$	—	$	—	$	35,985
Real estate—commercial
Retail	975,319		23,326		14,022		—		1,012,667
Hotel & motel	889,763		113		6,929		—		896,805
Gas station & car wash	573,688		8,814		4,865		—		587,367
Mixed use	303,047		787		3,430		—		307,264
Industrial & warehouse	422,067		8,508		9,577		—		440,152
Other	796,285		29,621		14,676		—		840,582
Real estate—construction	104,901		—		—		—		104,901
Commercial business	853,739		20,092		38,219		210		912,260
Trade finance	93,430		11,458		10,039		—		114,927
Consumer and other	40,765		6		1,317		10		42,098
Subtotal	$	5,088,989	$	102,725	$	103,074	$	220	$	5,295,008
Acquired Loans:
Real estate—residential	$	436	$	285	$	—	$	—	$	721
Real estate—commercial
Retail	141,896		3,617		17,990		—		163,503
Hotel & motel	37,499		6,214		13,112		—		56,825
Gas station & car wash	25,251		381		7,089		—		32,721
Mixed use	18,681		11,626		2,825		—		33,132
Industrial & warehouse	45,691		1,237		10,694		—		57,622
Other	61,192		529		13,016		417		75,154
Real estate—construction	—		—		—		—		—
Commercial business	38,317		1,547		18,142		521		58,527
Trade finance	—		—		—		—		—
Consumer and other	35,686		1,634		7,394		895		45,609
Subtotal	$	404,649	$	27,070	$	90,262	$	1,833	$	523,814
Total	$	5,493,638	$	129,795	$	193,336	$	2,053	$	5,818,822

29

	As of December 31, 2014
	Pass		Special Mention		Substandard		Doubtful/Loss		Total
	(In thousands)
Legacy Loans:
Real estate—residential	$	20,586	$	—	$	—	$	—	$	20,586
Real estate—commercial
Retail	1,015,195		20,177		14,805		—		1,050,177
Hotel & motel	784,586		114		7,746		—		792,446
Gas station & car wash	553,901		—		8,857		—		562,758
Mixed use	288,409		1,147		2,187		—		291,743
Industrial & warehouse	347,805		9,181		12,313		—		369,299
Other	699,644		28,044		13,013		—		740,701
Real estate—construction	92,564		—		1,521		—		94,085
Commercial business	765,280		18,792		41,138		26		825,236
Trade finance	103,844		18,599		12,319		—		134,762
Consumer and other	37,256		38		470		13		37,777
Subtotal	$	4,709,070	$	96,092	$	114,369	$	39	$	4,919,570
Acquired Loans:
Real estate—residential	$	539	$	290	$	—	$	—	$	829
Real estate—commercial
Retail	157,485		3,531		25,469		—		186,485
Hotel & motel	69,236		3,889		9,241		—		82,366
Gas station & car wash	27,936		369		8,542		268		37,115
Mixed use	25,843		7,001		3,048		—		35,892
Industrial & warehouse	66,214		667		14,177		—		81,058
Other	76,956		2,076		15,242		36		94,310
Real estate—construction	—		—		—		—		—
Commercial business	48,270		6,331		22,721		1,063		78,385
Trade finance	—		—		—		—		—
Consumer and other	40,136		2,089		9,066		781		52,072
Subtotal	$	512,615	$	26,243	$	107,506	$	2,148	$	648,512
Total	$	5,221,685	$	122,335	$	221,875	$	2,187	$	5,568,082

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Reclassification to held for sale	(In thousands)
Real estate - Commercial	$	235	$	—	$	685	$	34
Consumer	1,088		—		1,088		—
Total	$	1,323	$	—	$	1,773	$	34

The adequacy of the allowance for loan losses is determined by management based upon an evaluation and review of the credit quality of the loan portfolio, consideration of historical loan loss experience, relevant internal and external factors that affect the collection of a loan, and other pertinent factors.

Migration analysis is a formula methodology derived from the Bank's actual historical net charge off experience for each loan class (type) pool and risk grade. The migration analysis ("Migration Analysis") is centered on the Bank's internal credit risk rating system. Management's internal loan review and external contracted credit review examinations are used to determine and validate loan risk grades. This credit review system takes into consideration factors such as: borrower's background and experience; historical and current financial condition; credit history and payment performance; economic conditions and their impact on various industries; type, fair value and volatility of the fair value of collateral; lien position; and the financial strength of any guarantors.

30

A general loan loss allowance is provided on loans not specifically identified as impaired (“non-impaired loans”). The Bank's general loan loss allowance has two components: quantitative and qualitative risk factors. The quantitative risk factors are based on a migration analysis methodology described above. The loans are classified by class and risk grade and the historical loss migration is tracked for the various classes. Loss experience is quantified for a specified period and then weighted to place more significance on the most recent loss history. That loss experience is then applied to the stratified portfolio at each quarter end. For ACILs, a general loan loss allowance is provided to the extent that there has been credit deterioration since the date of acquisition. 

Additionally, in order to systematically quantify the credit risk impact of other trends and changes within the loan portfolio, the Bank utilizes qualitative adjustments to the Migration Analysis within established parameters. The parameters for making adjustments are established under a Credit Risk Matrix that provides seven possible scenarios for each of the factors below. The matrix allows for up to three positive (Major, Moderate, and Minor), three negative (Major, Moderate, and Minor), and one neutral credit risk scenarios within each factor for each loan type pool. However, if information exists to warrant adjustment to the Migration Analysis, changes are made in accordance with the established parameters supported by narrative and/or statistical analysis. The Credit Risk Matrix and the nine possible scenarios enable the Bank to qualitatively adjust the Loss Migration Ratio by as much as 50 basis points in either direction (positive or negative) for each loan type pool. This matrix considers the following nine factors, which are patterned after the guidelines provided under the FFIEC Interagency Policy Statement on the Allowance for Loan and Lease Losses:

• Changes in lending policies and procedures, including underwriting standards and collection, charge off, and recovery practices;

• Changes in national and local economic and business conditions and developments, including the condition of various market segments;

• Changes in the nature and volume of the loan portfolio;

• Changes in the experience, ability and depth of lending management and staff;

• Changes in the trends of the volume and severity of past due loans, Classified Loans, nonaccrual loans, troubled debt restructurings and other loan modifications;

• Changes in the quality of our loan review system and the degree of oversight by the Directors;

• Changes in the value of underlying collateral for collateral-dependent loans;

• The existence and effect of any concentrations of credit and changes in the level of such concentrations; and

• The effect of external factors, such as competition and legal and regulatory requirements, on the level of estimated losses in our loan portfolio.

The Company also establishes specific loss allowances for loans that have identified potential credit risk conditions or circumstances related to a specific individual credit. The specific allowance amounts are determined by a method prescribed by FASB ASC 310-10-35-22, Measurement of Impairment. The loans identified as impaired will be accounted for in accordance with one of the three acceptable valuation methods: 1) the present value of future cash flows discounted at the loan's effective interest rate; 2) the loan's observable market price; or 3) the fair value of the collateral, if the loan is collateral dependent. For the collateral dependent impaired loans, management obtains a new appraisal to determine the amount of impairment as of the date that the loan became impaired. The appraisals are based on an “as is” valuation. To ensure that appraised values remain current, management either obtains updated appraisals every twelve months from a qualified independent appraiser or an internal evaluation of the collateral is performed by qualified personnel. If the third party market data indicates that the value of the collateral property has declined since the most recent valuation date, management adjusts the value of the property downward to reflect current market conditions. If the fair value of the collateral is less than the recorded amount of the loan, management recognizes impairment by creating or adjusting an existing valuation allowance with a corresponding charge to the provision for loan losses. If an impaired loan is expected to be collected through liquidation of the underlying collateral, the loan is deemed to be collateral dependent and the amount of impairment is charged off against the allowance for loan losses.

The Company considers a loan to be impaired when it is probable that not all amounts due (principal and interest) will be collectible in accordance with the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. The significance of payment delays and payment shortfalls is determined on a case-by-case basis by taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower's prior payment record and the amount of the shortfall in relation to the principal and interest owed.

For commercial business loans, real estate loans and certain consumer loans, management bases the measurement of loan impairment on the present value of the expected future cash flows, discounted at the loan's effective interest rate or on the fair

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value of the loan's collateral if the loan is collateral dependent. Management evaluates most consumer loans for impairment on a collective basis because these loans generally have smaller balances and are homogeneous in the underwriting of terms and conditions and in the type of collateral.

For ACILs, the allowance for loan losses is based upon expected cash flows for these loans. To the extent that a deterioration in borrower credit quality results in a decrease in expected cash flows subsequent to the acquisition of the loans, an allowance for loan losses would be established based on an estimate of future credit losses over the remaining life of the loans.

The following table presents loans by portfolio segment and impairment method at June 30, 2015 and December 31, 2014:

	As of June 30, 2015
	Real Estate— Residential			Real Estate— Commercial			Real Estate— Construction			Commercial Business			Trade Finance			Consumer and Other			Total
	(In thousands)
Impaired loans (gross carrying value)	$	—		$	72,345		$	—		$	38,044		$	6,670		$	1,639		$	118,698
Specific allowance	$	—		$	2,374		$	—		$	4,756		$	320		$	615		$	8,065
Loss coverage ratio	N/A			3.3		%	N/A			12.5		%	4.8		%	37.5		%	6.8		%
Non-impaired loans	$	36,706		$	4,431,449		$	104,901		$	932,743		$	108,257		$	86,068		$	5,700,124
General allowance	$	247		$	47,773		$	593		$	11,522		$	1,440		$	478		$	62,053
Loss coverage ratio	0.7		%	1.1		%	0.6		%	1.2		%	1.3		%	0.6		%	1.1		%
Total loans	$	36,706		$	4,503,794		$	104,901		$	970,787		$	114,927		$	87,707		$	5,818,822
Total allowance for loan losses	$	247		$	50,147		$	593		$	16,278		$	1,760		$	1,093		$	70,118
Loss coverage ratio	0.7		%	1.1		%	0.6		%	1.7		%	1.5		%	1.2		%	1.2		%

	As of December 31, 2014
	Real Estate— Residential			Real Estate— Commercial			Real Estate— Construction			Commercial Business			Trade Finance			Consumer and Other			Total
	(In thousands)
Impaired loans (gross carrying value)	$	—		$	76,020		$	1,521		$	42,607		$	5,936		$	1,061		$	127,145
Specific allowance	$	—		$	2,374		$	—		$	7,236		$	1,312		$	—		$	10,922
Loss coverage ratio	N/A			3.1		%	0.0		%	17.0		%	22.1		%	0.0		%	8.6		%
Non-impaired loans	$	21,415		$	4,248,329		$	92,565		$	861,014		$	128,826		$	88,788		$	5,440,937
General allowance	$	146		$	44,161		$	667		$	9,235		$	2,144		$	483		$	56,836
Loss coverage ratio	0.7		%	1.0		%	0.7		%	1.1		%	1.7		%	0.5		%	1.0		%
Total loans	$	21,415		$	4,324,349		$	94,086		$	903,621		$	134,762		$	89,849		$	5,568,082
Total allowance for loan losses	$	146		$	46,535		$	667		$	16,471		$	3,456		$	483		$	67,758
Loss coverage ratio	0.7		%	1.1		%	0.7		%	1.8		%	2.6		%	0.5		%	1.2		%

Under certain circumstances, the Company provides borrowers relief through loan modifications. These modifications are either temporary in nature (“temporary modifications”) or are more substantive. At June 30, 2015, total modified loans were $75.4 million, compared to $76.1 million at December 31, 2014. The temporary modifications generally consist of interest only

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payments for a three to six month period, whereby principal payments are deferred. At the end of the modification period, the remaining principal balance is re-amortized based on the original maturity date. Loans subject to temporary modifications are generally downgraded to Special Mention or Substandard. At the end of the modification period, the loan either 1) returns to the original contractual terms; 2) is further modified and accounted for as a troubled debt restructuring in accordance with ASC 310-10-35; or 3) is disposed of through foreclosure or liquidation.

Troubled Debt Restructurings (“TDRs”) of loans are defined by ASC 310-40, “Troubled Debt Restructurings by Creditors” and ASC 470-60, “Troubled Debt Restructurings by Debtors” and evaluated for impairment in accordance with ASC 310-10-35. The concessions may be granted in various forms, including reduction in the stated interest rate, reduction in the amount of principal amortization, forgiveness of a portion of a loan balance or accrued interest, or extension of the maturity date. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed on the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Bank's internal underwriting policy.

A summary of TDRs on accrual and nonaccrual status by type of concession as of June 30, 2015 and December 31, 2014 is presented below:

	As of June 30, 2015
	TDRs on Accrual								TDRs on Nonaccrual								Total
	Real Estate— Commercial		Commercial Business		Other		Total		Real Estate— Commercial		Commercial Business		Other		Total
	(In thousands)
Payment concession	$	11,885	$	465	$	—	$	12,350	$	3,888	$	4,454	$	—	$	8,342	$	20,692
Maturity / Amortization concession	3,568		18,766		4,066		26,400		1,250		545		232		2,027		28,427
Rate concession	13,441		5,202		—		18,643		7,423		39		171		7,633		26,276
Principal forgiveness	—		—		—		—		—		11		—		11		11
	$	28,894	$	24,433	$	4,066	$	57,393	$	12,561	$	5,049	$	403	$	18,013	$	75,406

	As of December 31, 2014
	TDRs on Accrual								TDRs on Nonaccrual								Total
	Real Estate— Commercial		Commercial Business		Other		Total		Real Estate— Commercial		Commercial Business		Other		Total
	(In thousands)
Payment concession	$	12,235	$	556	$	—	$	12,791	$	3,840	$	517	$	—	$	4,357	$	17,148
Maturity / Amortization concession	2,189		20,053		3,387		25,629		1,207		3,158		1,550		5,915		31,544
Rate concession	13,684		5,024		—		18,708		8,473		80		176		8,729		27,437
Principal forgiveness	—		—		—		—		—		15		—		15		15
	$	28,108	$	25,633	$	3,387	$	57,128	$	13,520	$	3,770	$	1,726	$	19,016	$	76,144

TDRs on accrual status are comprised of loans that were accruing at the time of restructuring and for which the Bank anticipates full repayment of both principal and interest under the restructured terms. TDRs that are on nonaccrual status can be returned to accrual status after a period of sustained performance, generally determined to be six months of timely payments as modified.  Sustained performance includes the periods prior to the modification if the prior performance met or exceeded the modified terms. TDRs on accrual status at June 30, 2015 were comprised of 25 commercial real estate loans totaling $28.9 million, 31 commercial business loans totaling $24.4 million, and 3 other loans totaling $4.1 million. TDRs on accrual status at December 31, 2014 were comprised of 24 commercial real estate loans totaling $28.1 million, 30 commercial business loans totaling $25.6 million and 3 other loans totaling $3.4 million.  The Company expects that the TDRs on accrual status as of June 30, 2015, which were all performing in accordance with their restructured terms, to continue to comply with the restructured terms because of the reduced principal or interest payments on these loans. TDRs that were restructured at market interest rates and had sustained performance as agreed under the modified loan terms may be reclassified as non-TDRs after each year end but are reserved for under ASC 310-10.

The Company has allocated $5.9 million and $5.7 million of specific reserves to TDRs as of June 30, 2015 and December 31, 2014, respectively. 

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The following table presents loans by class modified as TDRs that occurred during the three and six months ended June 30, 2015:

	Three Months Ended June 30, 2015					Six Months Ended June 30, 2015
	Number of Loans	Pre- Modification		Post- Modification		Number of Loans	Pre- Modification		Post- Modification
	(Dollars in thousands)
Legacy Loans:
Real estate—commercial
Retail	1	$	255	$	253	1	$	255	$	253
Hotel & motel	—	—		—		—	—		—
Gas station & car wash	—	—		—		1	142		131
Mixed use	—	—		—		—	—		—
Industrial & warehouse	—	—		—		—	—		—
Other	—	—		—		2	1,762		1,734
Real estate - construction	—	—		—		—	—		—
Commercial business	8	4,620		4,443		10	4,711		4,486
Trade finance	—	—		—		—	—		—
Consumer and other	—	—		—		—	—		—
Subtotal	9	$	4,875	$	4,696	14	$	6,870	$	6,604
Acquired Loans:
Real estate—commercial
Retail	—	$	—	$	—	—	$	—	$	—
Hotel & motel	—	—		—		—	—		—
Gas station & car wash	—	—		—		—	—		—
Mixed use	1	64		64		1	64		64
Industrial & warehouse	—	—		—		—	—		—
Other	—	—		—		—	—		—
Real estate—construction	—	—		—		—	—		—
Commercial business	—	—		—		—	—		—
Trade finance	—	—		—		—	—		—
Consumer and other	—	—		—		—	—		—
Subtotal	1	$	64	$	64	1	$	64	$	64
Total	10	$	4,939	$	4,760	15	$	6,934	$	6,668

The specific reserves for the TDRs that occurred during the three and six months ended June 30, 2015 totaled $2.4 million and $2.4 million, respectively, and there were $0 and $42 thousand in charge offs for the three and six months ended June 30, 2015, respectively.

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The following table presents loans by class for TDRs that have been modified within the previous twelve months and have subsequently had a payment default during the three and six months ended June 30, 2015:

	Three Months Ended June 30, 2015			Six Months Ended June 30, 2015
	Number of Loans	Balance		Number of Loans	Balance
	(Dollars In thousands)
Legacy Loans:
Real estate—commercial
Retail	—	$	—	—	$	—
Gas station & car wash	1	131		1	131
Industrial & warehouse	1	21		1	21
Other	1	325		1	325
Commercial business	8	4,047		8	4,047
Subtotal	11	$	4,524	11	$	4,524
Acquired Loans:
Real estate—commercial
Retail	—	$	—	—	$	—
Gas station & car wash	—	—		—	—
Hotel & motel	—	—		—	—
Industrial & warehouse	—	—		—	—
Other	—	—		—	—
Commercial business	1	31		1	31
Subtotal	1	$	31	1	$	31
	12	$	4,555	12	$	4,555

A loan is considered to be in payment default once it is 30 days contractually past due under the modified terms. As of June 30, 2015, the specific reserves totaled $2.4 million and $2.4 million for the TDRs that had payment defaults during the three and six months ended June 30, 2015, respectively. The total charge offs for the TDRs that had payment defaults during the three and six months ended June 30, 2015 were $0 and $0, respectively.

There were eleven Legacy Loans that subsequently defaulted during the three and six months ended June 30, 2015 that were modified as follows: eight Commercial Business loan totaling $4.0 million were modified through payment concessions, two Real Estate Commercial loans totaling $152 thousand were modified through payment concessions, and one Real Estate Commercial loan totaling $325 thousand was modified through maturity concession.

There was one Acquired Loan that defaulted during the three and six months ended June 30, 2015 that was modified as follows: one Commercial Business loan totaling $31 thousand was modified through payment concession.

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Covered Assets

On April 16, 2010, the Department of Financial Institutions closed Innovative Bank, California, and appointed the FDIC as its receiver. On the same date, the Bank assumed the banking operations of Innovative Bank from the FDIC under a purchase and assumption agreement and two related loss sharing agreements with the FDIC. These agreements provide for the sharing of losses and recoveries on the covered assets. The loss sharing provisions of the agreements expired on June 30, 2015, however, the Company will continue to reimburse the FDIC for recoveries on its covered assets until June 30, 2018.

Covered nonperforming assets totaled $2.1 million and $1.5 million at June 30, 2015 and December 31, 2014, respectively. These covered nonperforming assets are subject to the loss sharing agreements with the FDIC. The covered nonperforming assets at June 30, 2015 and December 31, 2014 were as follows:

	June 30, 2015		December 31, 2014
	(In thousands)
Covered loans on nonaccrual status	$	1,172	$	1,355
Covered OREO	956		96
Total covered nonperforming assets	$	2,128	$	1,451
Acquired covered loans	$	27,259	$	32,560

Related Party Loans

In the ordinary course of business, the Company enters into loan transactions with certain of its directors or associates of such directors (“Related Parties”). The loans to Related Parties are on substantially the same terms and conditions, including interest rates and collateral, as those prevailing at the same time for comparable transactions with unrelated parties. In management’s opinion, these transactions did not involve more than normal credit risk or present other unfavorable features. All loans to Related Parties were current as of June 30, 2015 and December 31, 2014, and the outstanding principal balance as of June 30, 2015 and December 31, 2014 was $3.6 million and $3.7 million, respectively.

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7. Borrowings

The Company maintains a secured credit facility with the FHLB against which the Bank may take advances. The borrowing capacity is limited to the lower of 30% of the Bank’s total assets or the Bank’s collateral capacity, which was $2.23 billion at June 30, 2015 and $2.17 billion at December 31, 2014. The terms of this credit facility require the Company to pledge eligible collateral with the FHLB equal to at least 100% of outstanding advances.

At June 30, 2015 and December 31, 2014, real estate secured loans with a carrying amount of approximately $2.96 billion and $2.89 billion, respectively, were pledged as collateral for borrowings from the FHLB. At June 30, 2015 and December 31, 2014, other than FHLB stock, no securities are pledged as collateral for borrowings from the FHLB.

At June 30, 2015 and December 31, 2014, FHLB advances were $580.8 million and $481.0 million, respectively, had a weighted average interest rate of 1.05% and 1.09%, respectively, and had various maturities through June 2020. At June 30, 2015 and December 31, 2014, $20.8 million and $21.0 million, respectively, of the advances were putable advances with various putable dates and strike prices. The stated rate of FHLB advances as of June 30, 2015 ranged between 0.21% and 2.02%. At June 30, 2015, the Company had a remaining borrowing capacity of $1.65 billion.

At June 30, 2015, the contractual maturities for FHLB advances were as follows:

	Contractual Maturities		Maturity/ Put Date
	(In thousands)
Due within one year	$	165,000	$	185,785
Due after one year through five years	415,785		395,000
	$	580,785	$	580,785

In addition, as a member of the FRB system, the Bank may also borrow from the FRB of San Francisco. The maximum amount that the Bank may borrow from the FRB’s discount window is up to 95% of the outstanding principal balance of the qualifying loans and the fair value of the securities that are pledged. At June 30, 2015, the outstanding principal balance of the qualifying loans was $697.7 million, and the collateral value of investment securities was $1.3 million. There were no borrowings outstanding against this line as of June 30, 2015 and December 31, 2014.

8. Subordinated Debentures

At June 30, 2015, the Company had five wholly-owned subsidiary grantor trusts that had issued $46 million of pooled trust preferred securities. Trust preferred securities accrue and pay distributions periodically at specified annual rates as provided in the indentures. The trusts used the net proceeds from the offering to purchase a like amount of subordinated debentures (the “Debentures”) of BBCN Bancorp. The Debentures are the sole assets of the trusts. The Company’s obligations under the subordinated debentures and related documents, taken together, constitute a full and unconditional guarantee by the Company of the obligations of the trusts. The trust preferred securities are mandatorily redeemable upon the maturity of the Debentures, or upon earlier redemption as provided in the indentures. The Company has the right to redeem the Debentures in whole (but not in part) on or after specific dates, at a redemption price specified in the indentures plus any accrued but unpaid interest to the redemption date. The Company also has a right to defer consecutive payments of interest on the debentures for up to five years.

The following table is a summary of trust preferred securities and Debentures at June 30, 2015:

Issuance Trust	Issuance Date	Trust Preferred Security Amount		Carrying Value of Subordinated Debentures		Rate Type	Current Rate		Maturity Date
		(Dollars in thousands)
Nara Capital Trust III	6/5/2003	$	5,000	$	5,155	Variable	3.44	%	6/15/2033
Nara Statutory Trust IV	12/22/2003	5,000		5,155		Variable	3.13	%	1/7/2034
Nara Statutory Trust V	12/17/2003	10,000		10,310		Variable	3.23	%	12/17/2033
Nara Statutory Trust VI	3/22/2007	8,000		8,248		Variable	1.94	%	6/15/2037
Center Capital Trust I	12/30/2003	18,000		13,373		Variable	3.13	%	1/7/2034
TOTAL ISSUANCE		$	46,000	$	42,241

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The Company’s investment in the common trust securities of the issuer trusts of $1.5 million and $1.6 million at June 30, 2015 and December 31, 2014, respectively, is included in other assets. Although the subordinated debt issued by the trusts are not included as a component of stockholders' equity in the consolidated balance sheets, the debt is treated as capital for regulatory purposes. The trust preferred security debt issuances are includable in Tier I capital up to a maximum of 25% of capital on an aggregate basis. Any amount that exceeds 25% qualifies as Tier 2 capital.

9.    Derivative Financial Instruments

The Company offers a loan hedging program to certain loan customers.  Through this program, the Company originates a variable rate loan with the customer.  The Company and the customer will then enter into a fixed interest rate swap. Lastly, an identical offsetting swap is entered into by the Company with a correspondent bank. These “back to back” swap arrangements are intended to offset each other and allow the Company to book a variable rate loan, while providing the customer with a contract for fixed interest payments. In these arrangements, the Company’s net cash flow is equal to the interest income received from the variable rate loan originated with the customer. These customer swaps are not designated as hedging instruments and are recorded at fair value in other assets and other liabilities.  The changes in fair value are recognized in the income statement in other income and fees.

At June 30, 2015, the following interest rate swaps related to our loan hedging program were outstanding:

	As of June 30, 2015
Interest rate swaps on loans with loan customers
Notional amount (in thousands)	$	83,848
Weighted average remaining term	7.5 years
Received fixed rate (weighted average)	4.44		%
Pay variable rate (weighted average)	2.55		%
Estimated fair value (in thousands)	$	1,127
Back to back interest rate swaps with correspondent banks
Notional amount (in thousands)	$	83,848
Weighted average remaining term	7.5 years
Received variable rate (weighted average)	2.55		%
Pay fixed rate (weighted average)	4.44		%
Estimated fair value (in thousands)	$	(1,127	)

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10. Intangible Assets

The carrying amount of the Company's goodwill as of June 30, 2015 and December 31, 2014 was $105.4 million. There was no impairment of goodwill during the three and six months periods ended June 30, 2015 and 2014.

Core deposit intangible assets are amortized over their estimated lives, which range from seven to ten years. Amortization expense related to core deposit intangible assets totaled $267 thousand and $324 thousand for the three months ended June 30, 2015 and 2014, respectively. The amortization expense related to core deposit intangible assets totaled $534 thousand and $648 thousand for the six months ended June 30, 2015 and 2014, respectively. The following table provides information regarding the core deposit intangibles at June 30, 2015:

		As of June 30, 2015
	Amortization period	Gross Carrying Amount		Accumulated Amortization
		(In thousands)
Core deposit—Center Financial Corporation acquisition	7 years	$	4,100	$	(2,971	)
Core deposit—PIB acquisition	7 years	603		(324		)
Core deposit—Foster acquisition	10 years	2,763		(817		)
Total		$	7,466	$	(4,112	)

Servicing assets are recognized when SBA loans are sold with servicing retained with the income statement effect recorded in gains on sales of SBA loans. Servicing assets are initially recorded at fair value based on the present value of the contractually specified servicing fee, net of servicing costs, over the estimated life of the loan, using a discount rate based on the related note rate. The Company's servicing costs approximates the industry average servicing costs of 40 basis points. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans.

Management periodically evaluates servicing assets for impairment based upon the fair value of the rights as compared to the carrying amount. Impairment is determined by stratifying rights into groupings based on loan type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount.

The changes in servicing assets for the three and six months ended June 30, 2015 and 2014 were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(In thousands)
Balance at beginning of period	$	10,529		$	9,123		$	10,341		$	8,915
Additions through originations of servicing assets	1,144			858			2,189			1,672
Amortization	(738		)	(957		)	(1,595		)	(1,563		)
Balance at end of period	$	10,935		$	9,024		$	10,935		$	9,024

The Company utilizes the discounted cash flow method to calculate the initial excess servicing assets. The inputs used in determining the fair value of the servicing assets at June 30, 2015 and December 31, 2014 are presented below.

	June 30, 2015	December 31, 2014
	Range	Range
Weighted-average discount rate	5.32% ~ 5.92%	5.44% ~ 5.74%
Constant prepayment rate	7.00% ~ 11.90%	8.80% ~12.40%

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11. Income Taxes

The Company and its subsidiaries are subject to U.S. federal income tax, as well as state income taxes.  The Company had total unrecognized tax benefits of $1.8 million and $1.8 million at June 30, 2015 and December 31, 2014, respectively, that relate primarily to uncertainties in California enterprise zone loan interest deductions.

Management believes it is reasonably possible that the unrecognized tax benefits may decrease by approximately $200 thousand in the next twelve months.

The statute of limitations related to the consolidated Federal income tax returns is closed for all tax years up to and including 2009. The expiration of the statute of limitations related to the various state income and franchise tax returns varies by state. The Company is currently under examination by the Internal Revenue Service (IRS) for the 2011 tax year and by the California Franchise Tax Board (FTB) for the 2009 and 2010 tax years. While the outcome of the examinations is unknown, the Company expects no material adjustments. The Company recognizes interest and penalties related to income tax matters in income tax expense.  The Company recorded approximately $125 thousand and $96 thousand for accrued interest and penalties at June 30, 2015 and December 31, 2014, respectively.

Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion, or all, of the deferred tax asset will not be realized. In assessing the realization of deferred tax assets, management evaluates both positive and negative evidence, including the existence of any cumulative losses in the current year and the prior two years, the amount of taxes paid in available carry-back years, the forecasts of future income, applicable tax planning strategies, and assessments of current and future economic and business conditions. This analysis is updated quarterly and adjusted as necessary. Based on the analysis, the Company has determined that a valuation allowance for deferred tax assets was not required as of June 30, 2015.

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12. Fair Value Measurements

Accounting guidance establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value:

Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3: Significant unobservable inputs that reflect estimates of assumptions that market participants would use in pricing the asset or liability.

Securities Available for Sale

The fair values of securities available for sale are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs) or matrix pricing, which is a technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs).

The fair values of the Company's Level 3 securities available for sale were measured using an income approach valuation technique. The primary inputs and assumptions used in the fair value measurement were derived from the securities' underlying collateral, which included discount rates, prepayment speeds, payment delays, and an assessment of the risk of default of the underlying collateral, among other factors. Significant increases or decreases in any of the inputs or assumptions would result in a significant increase or decrease in the fair value measurement.

Impaired Loans

The fair values of impaired loans are generally measured for impairment using the practical expedients permitted by FASB ASC 310-10-35 including impaired loans measured at an observable market price (if available), or at the fair value of the loan’s collateral (if the loan is collateral dependent). Fair value of the loan’s collateral, when the loan is dependent on collateral, is determined by appraisals or independent valuation and result in a Level 2 classification.

OREO

OREO is fair valued at the time the loan is foreclosed upon and the asset is transferred to OREO. The value is based primarily on third party appraisals, less costs to sell and result in a Level 2 classification of the inputs for determining fair value. OREO is reviewed and evaluated on at least an annual basis for additional impairment and adjusted to lower of cost or market accordingly, based on the same factors identified above.

Loans held for sale

Loans held for sale are carried at the lower of cost or fair value, as determined by outstanding commitments from investors, or based on recent comparable sales (Level 2 inputs), if available, and if not available, are based on discounted cash flows using current market rates applied to the estimated life and credit risk (Level 3 inputs) or may be assessed based upon the fair value of the collateral, which is obtained from recent real estate appraisals (Level 3 inputs). These appraisals may utilize a single valuation approach or a combination of approaches including the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in Level 3 classification of the inputs for determining fair value.

41

Assets and liabilities measured at fair value on a recurring basis are summarized below:

			Fair Value Measurements at the End of the Reporting Period Using
	June 30, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Securities available for sale:
GSE collateralized mortgage obligations	$	362,153	$	—	$	362,153	$	—
GSE mortgage-backed securities	452,327		—		452,327		—
Trust preferred securities	3,963		—		3,963		—
Municipal bonds	39,669		—		38,523		1,146
Mutual funds	17,293		17,293		—		—

			Fair Value Measurements at the End of the Reporting Period Using
	December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Securities available for sale:
GSE collateralized mortgage obligations	$	302,774	$	—	$	302,774	$	—
GSE mortgage-backed securities	465,489		—		465,489		—
Trust preferred securities	3,987		—		3,987		—
Municipal bonds	6,930		—		5,752		1,178
Mutual funds	17,343		17,343		—		—

There were no transfers between Level 1, 2 and 3 during the three and six months ended June 30, 2015 and 2014. There were no gains or losses recognized in earnings during the three months ended June 30, 2015 and 2014. For the six months ended June 30, 2015 and 2014, there were $424 thousand and $0 gains in gains recorded in earnings, respectively.

The table below presents a reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the six months ended June 30, 2015:

	Six Months Ended June 30,
	2015			2014
	(In thousands)
Beginning Balance, January 1	$	1,178		$	1,112
Purchases, issuances and settlements	—			—
Amortization	—			—
Total gains or (losses) included in earnings	—			—
Total gains or (losses) included in other comprehensive income	(32		)	29
Ending Balance, June 30	$	1,146		$	1,141

42

Assets measured at fair value on a non-recurring basis are summarized below:

			Fair Value Measurements at the End of the Reporting Period Using
	June 30, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Impaired loans at fair value:
Real estate loans	$	38,705	$	—	$	38,705	$	—
Commercial business	7,546		—		7,546		—
Trade finance	1,654		—		1,654		—
Consumer	573		—		573		—
Loans held for sale, net	699		—		699		—
OREO	3,844		—		3,844		—

			Fair Value Measurements at the End of the Reporting Period Using
	December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Impaired loans at fair value:
Real estate loans	$	43,708	$	—	$	43,708	$	—
Commercial business	4,114		—		4,114		—
Trade Finance	1,883		—		1,883		—
Consumer	596		—		596		—
Loans held for sale, net	2,000		—		2,000		—
OREO	17,985		—		17,985		—

For assets measured at fair value on a non-recurring basis, the total net gains (losses), which include charge offs, recoveries, specific reserves, and gains and losses on sales recognized are summarized below:

	For the Three Months ended June 30,						For the Six Months ended June 30,
	2015			2014			2015		2014
	(In thousands)
Assets:
Impaired loans at fair value:
Real estate loans	$	(89	)	$	212		$	445	$	1,916
Commercial business	1,650			(242		)	2,924		(3,416		)
Trade Finance	315			(1,537		)	5		(2,196		)
Consumer	712			195			700		149
Loans held for sale, net	45			—			227		—
OREO	325			(320		)	814		(330		)

43

Fair Value of Financial Instruments

Carrying amounts and estimated fair values of financial instruments, not previously presented, at June 30, 2015 and December 31, 2014 were as follows:

	June 30, 2015
	Carrying Amount		Estimated Fair Value		Fair Value Measurement Using
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	321,266	$	321,266	Level 1
Loans held for sale	33,785		35,439		Level 2
Loans receivable—net	5,745,706		6,097,107		Level 3
Customers’ liabilities on acceptances	1,359		1,359		Level 2
Financial Liabilities:
Noninterest bearing deposits	$	1,689,137	$	1,689,137	Level 2
Saving and other interest bearing demand deposits	1,812,972		1,812,972		Level 2
Time deposits	2,256,181		2,262,634		Level 2
FHLB advances	580,785		582,562		Level 2
Subordinated debentures	42,241		44,036		Level 2
Bank’s liabilities on acceptances outstanding	1,359		1,359		Level 2
	December 31, 2014
	Carrying Amount		Estimated Fair Value		Fair Value Measurement Using
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	462,160	$	462,160	Level 1
Loans held for sale	28,311		29,626		Level 2
Loans receivable—net	5,497,434		5,826,924		Level 3
Customers’ liabilities on acceptances	1,889		1,889		Level 2
Financial Liabilities:
Noninterest bearing deposits	$	1,543,018	$	1,543,018	Level 2
Saving and other interest bearing demand deposits	1,862,060		1,862,060		Level 2
Time deposits	2,288,374		2,292,831		Level 2
FHLB advances	480,975		481,290		Level 2
Subordinated debentures	42,158		43,987		Level 2
Bank’s liabilities on acceptances outstanding	1,889		1,889		Level 2

The methods and assumptions used to estimate fair value are described as follows:

The carrying amount is the estimated fair value for cash and cash equivalents, savings and other interest bearing demand deposits, accrued interest receivable and payable, customer’s and Bank’s liabilities on acceptances, noninterest bearing deposits, short-term debt, secured borrowings and variable rate loans or deposits that reprice frequently and fully. For fixed rate loans or deposits and for variable rate loans or deposits with infrequent repricing or repricing limits, fair value is based on discounted cash flows using current market rates applied to the estimated life and credit risk. The allowance for loan losses is considered to be a reasonable estimate of discount for credit quality concerns. Fair value of SBA loans held for sale is based on market quotes. For fair value of non-SBA loans held for sale, see the measurement method discussed previously. Fair value of time deposits and debt is based on current rates for similar financing. It was not practicable to determine the fair value of FRB stock or FHLB stock due to restrictions placed on their transferability. The fair value of commitments to fund loans represents fees currently charged to enter into similar agreements with similar remaining maturities and is not presented herein. The fair value of these financial instruments is not material to the consolidated financial statements.

44

13. Stockholders’ Equity

In June 2012, the Company redeemed all of the Fixed Rate Cumulative Perpetual Preferred Stock issued under the U.S. Treasury Department's TARP Capital Purchase Program.

The Company assumed certain warrants (related to the TARP Capital Purchase Plan) to purchase shares of the Company's common stock. On May 20, 2015, the U.S. Treasury Department completed an auction to sell certain of its warrant positions, and the Company submitted the winning bid to repurchase an outstanding warrant to purchase 350,767 shares of the Company's common stock. The Company repurchased this warrant for $1.2 million. As of June 30, 2015, the U.S. Treasury Department held one remaining warrant for the purchase of 19,014 shares of the Company's common stock.

The Company's Board of Directors declared quarterly dividends of $0.11 per common share for the second quarter of 2015 and $0.075 per common share for the second quarter of 2014.

The following table presents the components of accumulated other comprehensive (loss) income, net at June 30, 2015 and December 31, 2014:

	June 30, 2015			December 31, 2014
	(In thousands)
Net unrealized (loss) gain on securities available for sale	$	(445	)	$	1,631
Net unrealized gain on interest-only strips	70			74
Total accumulated other comprehensive (loss) income, net	$	(375	)	$	1,705

45

14. Regulatory Matters

The Company and the Bank are subject to various regulatory capital requirements administered by the federal and state banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material and adverse effect on the Company’s and the Bank’s financial statements, such as restrictions on growth or the payment of dividends or other capital distributions or management fees. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Prompt corrective action provisions are not applicable to bank holding companies.

In July, 2013, the federal bank regulatory agencies adopted final regulations, which revised their risk-based and leverage capital requirements for banking organizations to meet requirements of Dodd-Frank and to implement Basel III international agreements reached by the Basel Committee. The final rules began for the Company and the Bank on January 1, 2015 and are subject to a phase-in period through January 1, 2019. The final rules that had an impact on the Company and the Bank include:

• An increase in the minimum Tier 1 capital ratio from 4.00% to 6.00% of risk-weighted assets;

• A new category and a required 4.50% of risk-weighted assets ratio is established for “common equity Tier 1” as a subset of Tier 1 capital limited to common equity;

• A minimum non-risk-based leverage ratio is set at 4.00%, eliminating a 3.00% exception for higher rated banks;

• Changes in the permitted composition of Tier 1 capital to exclude trust preferred securities, mortgage servicing rights and certain deferred tax assets and include unrealized gains and losses on available for sale debt and equity securities;

• The risk-weights of certain assets for purposes of calculating the risk-based capital ratios are changed for high volatility commercial real estate acquisition, development and construction loans, certain past due non-residential mortgage loans and certain mortgage-backed and other securities exposures; and

• A new additional capital conservation buffer of 2.5% of risk weighted assets over each of the required capital ratios will be phased in from 2016 to 2019 and must be met to avoid limitations on the ability of the Bank to pay dividends, repurchase shares or pay discretionary bonuses.

Management believes that the capital ratios for the Company and the Bank under Basel III will continue to exceed the well capitalized minimum capital requirements. As of June 30, 2015, the ratios for the Company and the Bank are sufficient to meet the fully phased-in conservation buffer.

As of June 30, 2015 and December 31, 2014, the most recent regulatory notification categorized the Bank as "well-capitalized" under the regulatory framework for prompt corrective action. To be categorized as "well-capitalized", the Bank must maintain minimum total risk-based, Tier I risk-based and Tier I leverage ratios as set forth in the table below. There are no conditions or events since the notification that management believes have changed the Bank’s category.

46

The Company’s and the Bank’s actual capital amounts and ratios are presented in the table below:

	Actual				Required For Capital Adequacy Purposes				Required To Be Well Capitalized under Prompt Corrective Action Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(Dollars in thousands)
As of June 30, 2015
Common equity tier 1 capital (to risk weighted assets):
Company	$	802,821	12.58	%	$	287,124	4.50	%	N/A		N/A
Bank	$	833,935	13.08	%	$	286,883	4.50	%	$	414,387	6.50	%
Total capital (to risk-weighted assets):
Company	$	915,181	14.34	%	$	510,443	8.00	%	N/A		N/A
Bank	$	905,479	14.20	%	$	510,014	8.00	%	$	637,518	10.00	%
Tier I capital (to risk-weighted assets):
Company	$	843,637	13.22	%	$	382,832	6.00	%	N/A		N/A
Bank	$	833,935	13.08	%	$	382,511	6.00	%	$	510,014	8.00	%
Tier I capital (to average assets):
Company	$	843,637	11.80	%	$	286,052	4.00	%	N/A		N/A
Bank	$	833,935	11.67	%	$	285,903	4.00	%	$	357,379	5.00	%
	Actual				Required For Capital Adequacy Purposes				Required To Be Well Capitalized under Prompt Corrective Action Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(Dollars in thousands)
As of December 31, 2014
Total capital (to risk-weighted assets):
Company	$	881,794	14.80	%	$	476,490	8.00	%	N/A		N/A
Bank	$	869,343	14.61	%	$	476,101	8.00	%	$	595,126	10.00	%
Tier I capital (to risk-weighted assets):
Company	$	812,464	13.64	%	$	238,245	4.00	%	N/A		N/A
Bank	$	800,013	13.44	%	$	238,050	4.00	%	$	357,076	6.00	%
Tier I capital (to average assets):
Company	$	812,464	11.62	%	$	279,709	4.00	%	N/A		N/A
Bank	$	800,013	11.45	%	$	279,585	4.00	%	$	349,481	5.00	%

47

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A)

The following discussion and analysis should be read in conjunction with Management's Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the year ended December 31, 2014 and the unaudited consolidated financial statements and notes set forth elsewhere in this report.

GENERAL

Selected Financial Data

The following tables sets forth a performance overview concerning the periods indicated and should be read in conjunction with the unaudited consolidated financial statements and the following Results of Operations and Financial Condition sections in the MD&A.

	At or for the Three Months Ended June 30,						At or for the Six Months Ended June 30,
	2015			2014			2015			2014
	(Dollars in thousands, except share and per share data)
Income Statement Data:
Interest income	$	77,075		$	76,453		$	151,629		$	149,806
Interest expense	9,684			8,963			19,115			17,351
Net interest income	67,391			67,490			132,514			132,455
Provision for loan losses	1,000			2,996			2,500			6,022
Net interest income after provision for loan losses	66,391			64,494			130,014			126,433
Noninterest income	10,568			10,492			21,773			21,587
Noninterest expense	38,698			37,739			77,932			74,013
Income before income tax provision	38,261			37,247			73,855			74,007
Income tax provision	15,320			14,935			29,556			29,499
Net income	$	22,941		$	22,312		$	44,299		$	44,508
Per Share Data:
Earnings per common share - basic	$	0.29		$	0.28		$	0.56		$	0.56
Earnings per common share - diluted	$	0.29		$	0.28		$	0.56		$	0.56
Book value per common share (period end, excluding warrants) (8)	$	11.42		$	10.72		$	11.42		$	10.72
Cash dividends declared per common share	$	0.11		$	0.075		$	0.21		$	0.15
Tangible book value per common share (period end, excluding warrants) (8) (10)	$	10.05		$	9.34		$	10.05		$	9.34
Number of common shares outstanding (period end)	79,550,403			79,493,732			79,550,403			79,493,732
Weighted average shares - basic	79,549,097			79,490,767			79,539,789			79,481,359
Weighted average shares - diluted	79,608,405			79,614,046			79,610,656			79,618,446
Tangible common equity ratio (8)	11.07		%	10.99		%	11.07		%	10.99		%
Statement of Financial Condition Data - at Period End:
Assets	$	7,333,319		$	6,866,291		$	7,333,319		$	6,866,291
Securities available for sale	875,405			746,683			875,405			746,683
Loans receivable	5,815,824			5,347,057			5,815,824			5,347,057
Deposits	5,758,290			5,470,388			5,758,290			5,470,388
FHLB advances	580,785			461,166			580,785			461,166
Subordinated debentures	42,241			42,076			42,241			42,076
Stockholders’ equity	908,588			852,609			908,588			852,609

48

	At or for the Three Months Ended June 30,						At or for the Six Months Ended June 30,
	2015			2014			2015			2014
	(Dollars in thousands)
Average Balance Sheet Data:
Assets	$	7,264,687		$	6,821,827		$	7,213,533		$	6,674,506
Securities available for sale	819,820			721,270			801,166			710,163
Loans receivable and loans held for sale	5,742,153			5,289,059			5,680,364			5,236,721
Deposits	5,786,213			5,450,585			5,745,023			5,320,402
Stockholders’ equity	906,310			842,837			898,302			831,155
Selected Performance Ratios:
Return on average assets (1)	1.26		%	1.31		%	1.23		%	1.33		%
Return on average stockholders’ equity (1)	10.13		%	10.59		%	9.86		%	10.71		%
Average stockholders' equity to average assets	12.48		%	12.36		%	12.45		%	12.45		%
Return on average tangible equity (1)(9)	11.51		%	12.18		%	11.23		%	12.35		%
Dividend payout ratio (dividends per share / earnings per share)	37.93		%	26.79		%	37.50		%	26.79		%
Efficiency ratio (2)	49.64		%	48.39		%	50.51		%	48.05		%
Net interest spread	3.64		%	3.95		%	3.63		%	4.00		%
Net interest margin (3)	3.91		%	4.20		%	3.89		%	4.24		%
Regulatory Capital Ratios (4)
Leverage capital ratio (5)	11.80		%	11.66		%	11.80		%	11.66		%
Tier 1 risk-based capital ratio	13.22		%	13.71		%	13.22		%	13.71		%
Total risk-based capital ratio	14.34		%	14.90		%	14.34		%	14.90		%
Common equity tier 1 capital ratio (11)	12.58		%	12.99		%	12.58		%	12.99		%
Asset Quality Ratios:
Allowance for loan losses to loans receivable	1.21		%	1.25		%	1.21		%	1.25		%
Allowance for loan losses to nonaccrual loans	176.70		%	156.78		%	176.70		%	156.78		%
Allowance for loan losses to nonperforming loans(6)	71.98		%	77.26		%	71.98		%	77.26		%
Allowance for loan losses to nonperforming assets(7)	59.63		%	62.40		%	59.63		%	62.40		%
Nonaccrual loans to loans receivable	0.68		%	0.80		%	0.68		%	0.80		%
Nonperforming loans to loans receivable (6)	1.67		%	1.62		%	1.67		%	1.62		%
Nonperforming assets to loans receivable and OREO (7)	2.01		%	2.00		%	2.01		%	2.00		%
Nonperforming assets to total assets (7)	1.60		%	1.56		%	1.60		%	1.56		%

⁽¹⁾  Annualized.

⁽²⁾  Efficiency ratio is defined as noninterest expense divided by the sum of net interest income before provision for loan losses and noninterest income.

⁽³⁾  Net interest margin is calculated by dividing annualized net interest income by average total interest earning assets.

⁽⁴⁾  The ratios generally required to meet the definition of a “well-capitalized” institution under certain banking regulations are 5% leverage capital, 8% tier I risk-based capital, 10% total risk-based capital, and 6.5% common equity tier 1 capital.

⁽⁵⁾  Calculations are based on average quarterly asset balances.

⁽⁶⁾  Nonperforming loans include nonaccrual loans, Legacy Loans and APLs past due 90 days or more and still accruing interest, and accruing restructured loans.

⁽⁷⁾  Nonperforming assets consist of nonperforming loans and OREO.

⁽⁸⁾  Excludes TARP preferred stock related stock warrants of $0 and $378 thousand at June 30, 2015 and 2014, respectively.

⁽⁹⁾  Average tangible equity is calculated by subtracting average goodwill and average core deposit intangibles assets from average stockholders' equity. This is a non-GAAP measure that we believe provides investors with information that is useful in understanding our financial performance and position.

49

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(Dollars in thousands)
Net income	$	22,941		$	22,312		$	44,299		$	44,508
Average stockholders' equity	$	906,310		$	842,837		$	898,302		$	831,155
Less: Average goodwill and core deposit intangible assets, net	(108,916		)	(110,138		)	(109,044		)	(110,299		)
Average tangible equity	$	797,394		$	732,699		$	789,258		$	720,856
Net income (annualized) to average tangible equity	11.51		%	12.18		%	11.23		%	12.35		%

⁽¹⁰⁾  Tangible book value per common share is calculated by subtracting goodwill and core deposit intangible assets from total stockholders' equity and dividing the difference by the number of shares of common stock outstanding. This is a non-GAAP measure that we believe provides investors with information that is useful in understanding our financial performance and position.

	June 30, 2015			June 30, 2014
	(In thousands, except per share data)
Total stockholders' equity	$	908,588		$	852,609
Less: Common stock warrant	—			(378		)
Goodwill and core deposit intangible assets, net	(108,755		)	(109,936		)
Tangible common equity	$	799,834		$	742,295
Common shares outstanding	79,550,403			79,493,732
Tangible book value per common share	$	10.05		$	9.34

⁽¹¹⁾  The Common equity tier 1 capital ratio is calculated by dividing Tier 1 capital less non-common elements, including perpetual preferred stock and related surplus, minority interest in subsidiaries, trust preferred securities and mandatory convertible preferred securities by total risk-weighted assets less the disallowed allowance for loan losses.

	June 30, 2015			June 30, 2014
	(Dollars in thousands)
Tier 1 capital	$	843,637		$	783,006
Less: Trust preferred securities less unamortized acquisition discount	(40,816		)	(40,651		)
Common equity tier 1 capital	$	802,821		$	742,355
Total risk weighted assets less disallowed allowance for loan losses	$	6,380,538		$	5,713,242
Common equity tier 1 capital ratio	12.58		%	12.99		%

50

Results of Operations

Overview

Total assets increased $193.0 million from $7.14 billion at December 31, 2014 to $7.33 billion at June 30, 2015. The increase in total assets was primarily due to a $248.3 million increase in loans receivable, net of allowance for loan losses, from $5.50 billion at December 31, 2014 to $5.75 billion at June 30, 2015. The increase in total assets was also related to the increase in securities available for sale of $78.9 million to $875.4 million at June 30, 2015 and the increase in other assets of $10.0 million to $30.4 million at June 30, 2015. The increase in assets was primarily offset by a $162.3 million decrease in cash and cash equivalents from $462.2 million at December 31, 2014 to $321.3 million at June 30, 2015. The increase in total assets was primarily funded by a $99.8 million increase in FHLB borrowings from $481.0 million at December 31, 2014 to $580.8 million at June 30, 2015. The increase in total assets was also funded by a $64.8 million increase in total deposits to $5.76 billion at June 30, 2015 and net income of $44.3 million for the six months ended June 30, 2015.

Net income for the second quarter of 2015 was $22.9 million, or $0.29 per diluted common share, compared to $22.3 million, or $0.28 per diluted common share, for the same period of 2014, which was an increase of $0.6 million, or 2.82%. The increase in net income was primarily due to a decrease in the provision for loan losses of $2.0 million which was primarily offset by an increase in noninterest expense of $959 thousand.

Net income for the six months ended June 30, 2015 was $44.3 million, or $0.56 per diluted common share, compared to $44.5 million, or $0.56 per diluted common share, for the same period of 2014, a decrease of $200 thousand, or 0.47%. The decrease in net income was primarily due to the increase in noninterest expense of $3.9 million which was primarily offset by the decrease in the provision for loan losses of $3.5 million.

Net income for the three and six months ended June 30, 2015 and 2014 was impacted by the accretion of discounts and the amortization of premiums relating to past acquisitions. The following table summarizes the accretion and amortization adjustments that are included within net income for the three and six months period ended June 30, 2015 and June 30, 2014:

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(Dollars in thousands)
Accretion of discounts on acquired performing loans	$	2,515		$	4,575		$	4,698		$	7,778
Accretion of discounts on acquired credit impaired loans	1,694			2,096			3,249			4,741
Amortization of premiums on assumed FHLB advances	95			94			189			186
Accretion of discounts on assumed subordinated debt	(42		)	(40		)	(82		)	(131		)
Amortization of premiums on assumed time deposits	49			231			124			544
Amortization of core deposit intangible assets	(267		)	(324		)	(534		)	(648		)
Total	$	4,044		$	6,632		$	7,644		$	12,470

The annualized return on average assets was 1.26% for the second quarter of 2015, compared to 1.31% for the same period of 2014. The annualized return on average stockholders' equity was 10.13% for the second quarter of 2015 compared to 10.59% for the same period of 2014. The efficiency ratio was 49.64% for the second quarter of 2015 compared to 48.39% for the same period of 2014.

The annualized return on average assets was 1.23% for the six months ended June 30, 2015, compared to 1.33% for the same period of 2014. The annualized return on average stockholders' equity was 9.86% for the six months ended June 30, 2015 compared to 10.71% for the same period of 2014. The efficiency ratio was 50.51% for the six months ended June 30, 2014 compared to 48.05% for the same period of 2014.

Net Interest Income and Net Interest Margin

Net Interest Income

A principal component of our earnings is net interest income, which is the difference between the interest and fees earned on loans and investments and the interest paid on deposits and borrowed funds. Net interest income expressed as a percentage of average interest earning assets is referred to as the net interest margin. The net interest spread is the yield on average interest earning assets less the cost of average interest bearing liabilities. Net interest income is affected by changes in the balances of

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interest earning assets and interest bearing liabilities and changes in the yields earned on interest earning assets and the rates paid on interest bearing liabilities.

Comparison of Three Months Ended June 30, 2015 with the Same Period of 2014

Net interest income before provision for loan losses was flat at $67.4 million for the second quarter of 2015 compared to $67.5 million for the same period of 2014 as interest income and interest expense increased by $622 thousand and $721 thousand, respectively, during the period.

Interest income for the second quarter of 2015 was $77.1 million, an increase of 0.78%, compared to $76.5 million for the same period of 2014. The increase of $6.3 million was attributed to the increase in total interest earning assets during the quarter. Also, interest from other investments increased by $1.1 million due to slight increases in yields and a special dividend from the FHLB during the quarter. However, these increases were offset by a $6.4 million and $387 thousand decrease attributable to lower yields on loans and securities available for sale, respectively, during the quarter.

Interest expense for the second quarter of 2015 was $9.7 million, an increase of 9.6% compared to $9.0 million for the same period of 2014. A $264 thousand increase in interest expense was attributable to increases in average balances during the quarter, primarily in interest bearing demand accounts and time deposits. A $387 thousand increase and a $139 thousand increase was attributable to the increase in rates on time deposits and interest bearing demand accounts, respectively.

Comparison of Six Months Ended June 30, 2015 with the Same Period of 2014

Net interest income before provision for loan losses was flat at $132.5 million for the six months ended June 30, 2015 compared to $132.5 million for the same period of 2014 as interest income and interest expense both increased by $1.8 million during the period.

Interest income for the six months ended June 30, 2015 was $151.6 million, an increase of 1.2% compared to $149.8 million for the same period of 2014. The increase resulted from an $12.7 million increase in interest income due to an increase in average interest earning assets, which was partially offset by a $10.9 million decrease in interest income due to a decrease in the yields on loans receivable and securities available for sale.

Interest expense for the six months ended June 30, 2015 was $19.1 million, an increase of 10.2% compared to $17.4 million for the same period of 2014. Both the average interest rates and average balances on time deposits increased during the period. Increases in interest expense of $973 thousand and $225 thousand were attributable to the increase in average rates and average balances, respectively.

Net Interest Margin

Our reported net interest margin is impacted by the weighted average rates we earn on interest earning assets and pay on interest bearing liabilities and the effect of acquisition accounting adjustments. The net interest margin for the second quarter of 2015 was 3.91%, a decrease of 29 basis points from 4.20% for the same period of 2014. Net interest margin for the six months ended June 30, 2015 was 3.89%, a decrease of 35 basis points from 4.24% for the same period of 2014.

The change in the our reported net interest margin for the three and six months ended June 30, 2015 and 2014 is summarized in the table below.

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Net interest margin, excluding the effect of acquisition accounting adjustments	3.63	%	3.72	%	3.63	%	3.77	%
Acquisition accounting adjustments(1)	0.28		0.48		0.26		0.47
Reported net interest margin	3.91	%	4.20	%	3.89	%	4.24	%
(1) Acquisition accounting adjustments are calculated by subtracting net interest margin, excluding the effect of acquisition accounting adjustments, from reported net interest margin.

As noted in the table above, excluding the effect of the acquisition accounting adjustments, the net interest margin for the second quarter of 2015 decreased 9 basis points to 3.63% from 3.72% for the same period of 2014. Excluding the effect of

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acquisition accounting adjustments, the net interest margin for the six months ended June 30, 2015 decreased 14 basis points to 3.63% from 3.77% for the same period of 2014.

The decrease in the net interest margin was due to a decline in the effect of acquisition accounting adjustments and a decline in the weighted average yield on the loan portfolio. The decrease in net interest margin was also caused by an increase in the cost of deposits and a decrease in yields from our investment securities.

The acquisition related adjustments that impact the net interest margin declined by $2.6 million, totaling $4.3 million during the second quarter of 2015 compared to $6.6 million for the same period of 2014. The adjustments declined by $4.8 million when comparing the total adjustments of $7.6 million during the six months ended June 30, 2015 to a total of $12.5 million in adjustments for the same period in 2014.

The weighted average yield on loans decreased to 4.98% for the second quarter of 2015 from 5.44% for the second quarter of 2014 and decreased to 5.00% for the six months ended June 30, 2015 from 5.41% for the same period in 2014. The change in the yield was due to continued pricing pressure on loan interest rates and a 34 basis points and 33 basis points decline in the effects of acquisition accounting adjustments for the three and six months ended June 30, 2015, respectively, as summarized in the following table.

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
The weighted average yield on loans, excluding the effect of acquisition accounting adjustments	4.64	%	4.86	%	4.67	%	4.84	%
Acquisition accounting adjustments(1)	0.34		0.58		0.33		0.57
Reported weighted average yield on loans	4.98	%	5.44	%	5.00	%	5.41	%
(1)     Acquisition accounting adjustments are calculated by subtracting the weighted average yield on loans, excluding the effect of acquisition accounting adjustments, from the reported weighted average yield on loans.

Excluding the effects of acquisition accounting adjustments, the weighted average yield on loans for the second quarter of 2015 decreased 22 basis points to 4.64% from 4.86% for the same period of 2014. Excluding the effects of acquisition accounting adjustments, the weighted average yield on loans for the six months ended June 30, 2015 decreased 17 basis points to 4.67% from 4.84% for the same period of 2014. In addition to the continued pricing pressures, the declining loan yields were caused by a higher mix of lower yielding fixed rate loans particularly from the acquired loan portfolios and the high demand for fixed rate loans in the market. At June 30, 2015, fixed rate loans accounted for 51% of the loan portfolio, compared to 50% at June 30, 2014. The weighted average yield on the variable rate and fixed rate loan portfolios (excluding loan discount accretion) at June 30, 2015 was 4.07% and 4.72%, respectively, compared with 4.29% and 4.85% at June 30, 2014.

The weighted average yield on securities available for sale for the second quarter of 2015 was 2.06% compared to 2.26% for the same period of 2014. The weighted average yield on securities available for sale for the six months ended June 30, 2015 was 2.11% compared to 2.30% for the same period of 2014. The decrease was primarily attributable to a decrease in treasury yields resulting in lower interest earned for the newly purchased collateralized mortgage obligations and mortgage-backed securities compared to the same period in 2014.

The weighted average cost of deposits for the second quarter of 2015 was 0.55%, an increase of 1 basis point from 0.54% for the same period of 2014. The weighted average cost of deposits for the six months ended June 30, 2015 was 0.55%, an increase of 2 basis points from 0.53% for the same period of 2014. The amortization of the premium on time deposits assumed in the acquisitions positively affected the weighted average cost of deposits, as summarized in the following table.

53

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
The weighted average cost of deposits, excluding effect of acquisition accounting adjustments	0.56	%	0.55	%	0.56	%	0.55	%
Acquisition accounting adjustments(1)	(0.01	)	(0.01	)	(0.01	)	(0.02	)
Reported weighted average cost of deposits	0.55	%	0.54	%	0.55	%	0.53	%
(1)     Acquisition accounting adjustments are calculated by subtracting the weighted average cost of deposits, excluding the effect of acquisition accounting adjustments, from the reported weighted average cost of deposits.

Excluding the amortization of premiums on time deposits assumed in acquisitions, the weighted average cost of deposits was 0.56% for the second quarter of 2015, compared to 0.55% for the same period of 2014 and 0.56% for the six months ended June 30, 2015 compared to 0.55% for the same period of 2014. The increase was due to an increase in retail deposits, primarily money market and time deposits, due to our deposit campaigns and promotions. The average cost of the retail deposits was0.85%at June 30, 2015 compared to 0.82% at June 30, 2014.

The weighted average cost of FHLB advances for the second quarter of 2015 was 1.10%, a decrease of 8 basis points from 1.18% for the same period of 2014. For the six months ended June 30, 2015, the weighted average cost of FHLB advances was 1.10%, a decrease of 7 basis points from 1.17% for the same period of 2014.

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
The weighted average cost of FHLB advances, excluding effect of acquisition accounting adjustments	1.18	%	1.27	%	1.18	%	1.26	%
Acquisition accounting adjustments(1)	(0.08	)	(0.09	)	(0.08	)	(0.09	)
Reported weighted average cost of FHLB advances	1.10	%	1.18	%	1.10	%	1.17	%
(1)     Acquisition accounting adjustments are calculated by subtracting the weighted average cost on FHLB advances, excluding the effect of acquisition accounting adjustments, from reported weighted average cost on FHLB advances.

Excluding amortization of premiums on FHLB advances assumed in acquisitions, the weighted average cost of FHLB advances decreased to 1.18% for the second quarter of 2015 from 1.27% for the same period of 2014 and 1.18% for the six months ended June 30, 2015 compared to 1.26% for the same period of 2014. The average cost decreased due to the maturity of five advances totaling $94.0 million that had effective rates ranging from 3.5% to 3.8%, while the effective rates for FHLB advances obtained during the most recent twelve months were no higher than 2.02%.

The following table presents our condensed consolidated average balance sheet information, together with interest rates earned and paid on the various sources and uses of funds for the periods indicated:

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	Three Months Ended June 30, 2015						Three Months Ended June 30, 2014
	Average Balance		Interest Income/ Expense		Average Yield/ Rate *		Average Balance		Interest Income/ Expense		Average Yield/ Rate *
	(Dollars in thousands)
INTEREST EARNINGS ASSETS:
Loans(1) (2)	$	5,742,153	$	71,249	4.98	%	$	5,289,059	$	71,687	5.44	%
Securities available for sale(3)	819,820		4,215		2.06	%	721,270		4,078		2.26	%
FRB and FHLB stock and other investments	348,690		1,611		1.83	%	426,924		668		0.62	%
Federal funds sold	—		—		NA		13,407		20		0.60	%
Total interest earning assets	$	6,910,663	$	77,075	4.47	%	$	6,450,660	$	76,453	4.75	%
INTEREST BEARING LIABILITIES:
Deposits:
Demand, interest bearing	$	1,608,495	$	2,873	0.72	%	$	1,483,473	$	2,499	0.68	%
Savings	194,053		416		0.86	%	207,312		539		1.04	%
Time deposits:
$100,000 or more	1,750,089		3,514		0.81	%	1,626,200		2,984		0.74	%
Other	609,654		1,167		0.77	%	695,740		1,250		0.72	%
Total time deposits	2,359,743		4,681		0.80	%	2,321,940		4,234		0.73	%
Total interest bearing deposits	4,162,291		7,970		0.77	%	4,012,725		7,272		0.73	%
FHLB advances	481,946		1,327		1.10	%	445,835		1,311		1.18	%
Other borrowings	40,670		387		3.76	%	40,490		380		3.71	%
Total interest bearing liabilities	4,684,907		$	9,684	0.83	%	4,499,050		$	8,963	0.80	%
Noninterest bearing demand deposits	1,623,922						1,437,860
Total funding liabilities/cost of funds	$	6,308,829					$	5,936,910			0.61	%
Net interest income/net interest spread			$	67,391	3.64	%			$	67,490	3.95	%
Net interest margin					3.91	%					4.20	%
Net interest margin, excluding the effect of nonaccrual loan income (expense)(4)					3.91	%					4.18	%
Net interest margin, excluding the effect of nonaccrual loan income (expense) and prepayment fee income(4) (5)					3.88	%					4.16	%
Cost of deposits:
Noninterest bearing demand deposits	$	1,623,922	$	—			$	1,437,860	—
Interest bearing deposits	4,162,291		7,970		0.77	%	4,012,725		7,272		0.73	%
Total deposits	$	5,786,213	$	7,970	0.55	%	$	5,450,585	$	7,272	0.54	%

* Annualized

⁽¹⁾  Interest income on loans includes loan fees.

⁽²⁾  Average balances of loans consist of loans receivable and loans held for sale.

⁽³⁾  Interest income and yields are not presented on a tax-equivalent basis.

⁽⁴⁾  Nonaccrual interest income recognized (reversed) was $(21) thousand and $211 thousand for the three months ended June 30, 2015 and 2014, respectively.

⁽⁵⁾  Loan prepayment fee income excluded was $457 thousand and $302 thousand for the three months ended June 30, 2015 and 2014, respectively.

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	Six Months Ended June 30, 2015						Six Months Ended June 30, 2014
	Average Balance		Interest Income/ Expense		Average Yield/ Rate *		Average Balance		Interest Income/ Expense		Average Yield/ Rate *
	(Dollars in thousands)
INTEREST EARNINGS ASSETS:
Loans(1) (2)	$	5,680,364	$	140,888	5.00	%	$	5,236,721	$	140,381	5.41	%
Securities available for sale(3)	801,166		8,434		2.11	%	710,163		8,172		2.30	%
FRB and FHLB stock and other investments	379,659		2,307		1.21	%	343,479		1,233		0.71	%
Federal funds sold	—		—		NA		6,740		20		0.60	%
Total interest earning assets	$	6,861,189	$	151,629	4.45	%	$	6,297,103	$	149,806	4.79	%
INTEREST BEARING LIABILITIES:
Deposits:
Demand, interest bearing	$	1,617,021	$	5,638	0.70%		$	1,438,138	$	4,776	0.67	%
Savings	194,555		841		0.87	%	212,341		1,139		1.08	%
Time deposits:
$100,000 or more	1,731,812		6,891		0.80	%	1,593,865		5,663		0.72	%
Other	617,879		2,354		0.77	%	679,947		2,384		0.71	%
Total time deposits	2,349,691		9,245		0.79	%	2,273,812		8,047		0.71	%
Total interest bearing deposits	4,161,267		15,724		0.76	%	3,924,291		13,962		0.72	%
FHLB advances	481,447		2,624		1.10	%	433,644		2,522		1.17	%
Other borrowings	40,647		767		3.75	%	46,412		867		3.71	%
Total interest bearing liabilities	4,683,361		$	19,115	0.82	%	4,404,347		$	17,351	0.79	%
Noninterest bearing demand deposits	1,583,756						1,396,111
Total funding liabilities/cost of funds	$	6,267,117			0.61	%	$	5,800,458			0.60	%
Net interest income/net interest spread			$	132,514	3.63	%			$	132,455	4.00	%
Net interest margin					3.89	%					4.24	%
Net interest margin, excluding the effect of nonaccrual loan income (expense)(4)					3.89	%					4.24	%
Net interest margin, excluding the effect of nonaccrual loan income (expense) and prepayment fee income(4) (5)					3.86	%					4.21	%
Cost of deposits:
Noninterest bearing demand deposits	$	1,583,756	$	—			$	1,396,111	$	—
Interest bearing deposits	4,161,267		15,724		0.76	%	3,924,291		13,962		0.72	%
Total deposits	$	5,745,023	$	15,724	0.55	%	$	5,320,402	$	13,962	0.53	%

* Annualized

⁽¹⁾  Interest income on loans includes loan fees.

⁽²⁾  Average balances of loans consist of loans receivable and loans held for sale.

⁽³⁾  Interest income and yields are not presented on a tax-equivalent basis.

⁽⁴⁾  Nonaccrual interest income recognized (reversed) was $(45) thousand and $75 thousand for the six months ended June 30, 2015 and 2014, respectively.

⁽⁵⁾  Loan prepayment fee income excluded was $967 thousand and $914 thousand for the six months ended June 30, 2015 and 2014, respectively.

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Changes in net interest income are a function of changes in interest rates and volumes of interest earning assets and interest bearing liabilities. The following table sets forth information regarding the changes in interest income and interest expense for the periods indicated. The total change for each category of interest earning assets and interest bearing liabilities is segmented into the change attributable to variations in volume (changes in volume multiplied by the old rate) and the change attributable to variations in interest rates (changes in rates multiplied by the old volume). Nonaccrual loans are included in average loans used to compute this table.

	Three Months Ended June 30, 2015 over June 30, 2014
	Net Increase (Decrease)
				Change due to
				Rate			Volume
	(In thousands)
INTEREST INCOME:
Interest and fees on loans	$	(438	)	$	(6,385	)	$	5,947
Interest on securities	137			(387		)	524
Interest on FRB and FHLB stock and other investments	923			1,073			(150		)
Total interest income	$	622		$	(5,699	)	$	6,321
INTEREST EXPENSE:
Interest on demand, interest bearing	$	374		$	139		$	235
Interest on savings	(123		)	(88		)	(35		)
Interest on time deposits	447			387			60
Interest on FHLB advances	16			17			(1		)
Interest on other borrowings	7			2			5
Total interest expense	$	721		$	457		$	264
NET INTEREST INCOME	$	(99	)	$	(6,156	)	$	6,057

	Six Months Ended June 30, 2015 over June 30, 2014
	Net Increase (Decrease)
				Change due to
				Rate			Volume
	(In thousands)
INTEREST INCOME:
Interest and fees on loans	$	507		$	(11,119	)	$	11,626
Interest on securities	262			(726		)	988
Interest on FRB and FHLB stock and other investments	1,054			935			119
Total interest income	$	1,823		$	(10,910	)	$	12,733
INTEREST EXPENSE:
Interest on demand, interest bearing	$	862		$	247		$	615
Interest on savings	(298		)	(208		)	(90		)
Interest on time deposits	1,198			973			225
Interest on FHLB advances	102			(159		)	261
Interest on other borrowings	(100		)	10			(110		)
Total interest expense	$	1,764		$	863		$	901
NET INTEREST INCOME	$	59		$	(11,773	)	$	11,832

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Provision for Loan Losses

The provision for loan losses reflects our judgment of the current period cost associated with credit risk inherent in our loan portfolio. The loan loss provision for each period is dependent upon many factors, including loan growth, net charge offs, changes in the composition of the loan portfolio, delinquencies, assessments by management, third parties’ and regulators’ examination of the loan portfolio, the value of the underlying collateral for problem loans and the general economic conditions in our market areas. Specifically, the provision for loan losses represents the amount charged against current period earnings to achieve an allowance for loan losses that, in our judgment, is adequate to absorb probable incurred losses inherent in our loan portfolio. Periodic fluctuations in the provision for loan losses result from management’s assessment of the adequacy of the allowance for loan losses; however, actual loan losses may vary in material respects from current estimates. If the allowance for loan losses is inadequate, it may have a material adverse effect on our financial condition.

The provision for loan losses for the second quarter of 2015 was $1.0 million, a decrease of $2.0 million, or 66.6%, from $3.0 million for the same period last year. The decrease in the provision was primarily due to an decrease in quantitative reserves due to declining historical loss rates. The provision for loan losses for the six months period ended June 30, 2015 was $2.5 million, a decrease of $3.5 million, or 58.5%, from $6.0 million for the same period last year. The decrease is primarily due to overall reduction in quantitative reserves as a result of decreasing historical loss rates and decreased specific reserves on impaired loans.

See Financial Condition section of this MD&A for additional information and further discussion.

Noninterest Income

Noninterest income is primarily comprised of service fees on deposit accounts, fees received on trade finance letters of credit and net gains on sales of loans.

Noninterest income for the second quarter of 2015 was $10.6 million compared to $10.5 million for the same quarter of 2014, an increase of $76 thousand, or 0.7%. The increase was principally due to a $308 thousand increase in net gains on sales of SBA loans and a $245 thousand increase in loan servicing fees, net. The increase was offset by a $330 thousand decrease in servicing fees on deposit accounts, a $108 thousand decrease in international service fees, and $48 thousand decrease in wire transfer fees.

Noninterest income for the six months ended June 30, 2015 was $21.8 million compared to $21.6 million for the same period of 2014, an increase of $186 thousand, or 0.9 %. The increase was principally due to a $391 thousand increase from other income and fees, a $630 thousand increase in net gains on sales of SBA loans, a $227 thousand increase in net gains on sale of other loans, and a $424 thousand increase in net gains on sales and calls of securities available for sale. The increases were partially offset by a $740 thousand decrease in service fees on deposit accounts, $298 thousand decrease in international service fees, and a $254 decrease in net gains on sales of OREO.

Noninterest income by category is summarized below:

	Three Months Ended June 30,				Increase (Decrease)
	2015		2014		Amount			Percent (%)
	(Dollars in thousands)
Service fees on deposit accounts	$	3,030	$	3,360	$	(330	)	(9.8	)%
International service fees	1,005		1,113		(108		)	(9.7	)%
Loan servicing fees, net	855		610		245			40.2	%
Wire transfer fees	871		919		(48		)	(5.2	)%
Other income and fees	1,570		1,648		(78		)	(4.7	)%
Net gains on sales of SBA loans	3,119		2,811		308			11.0	%
Net gains on sales of other loans	45		—		45			N/A
Net gains on sales of OREO	73		31		42			135.5	%
Total noninterest income	$	10,568	$	10,492	$	76		0.7	%

58

	Six Months Ended June 30,				Increase (Decrease)
	2015		2014		Amount			Percent (%)
	(Dollars in thousands)
Service fees on deposit accounts	$	6,092	$	6,832	$	(740	)	(10.8	%)
International service fees	1,818		2,116		(298		)	(14.1	%)
Loan servicing fees, net	1,575		1,578		(3		)	(0.2	%)
Wire transfer fees	1,633		1,824		(191		)	(10.5	%)
Other income and fees	3,658		3,267		391			12.0	%
Net gains on sales of SBA loans	6,163		5,533		630			11.4	%
Net gains on sales of other loans	227		—		227			N/A
Net gains on sales of securities available for sale	424		—		424			N/A
Net gains on sales of OREO	183		437		(254		)	(58.1	%)
Total noninterest income	$	21,773	$	21,587	$	186		0.9	%

Noninterest Expense

Noninterest expense for the second quarter of 2015 was $38.7 million, an increase of $1.0 million, or 2.5%, from $37.7 million for the same period of 2014. Salaries and employee benefits expense increased $2.8 million due to an increase in the number of full-time equivalent employees, which increased to 928 at June 30, 2015 from 875 at June 30, 2014. Data processing fees and furniture and equipment expenses also increased by $164 thousand and $311 thousand, respectively, compared to the same period in 2014. Occupancy and FDIC expenses also increased by $95 thousand compared to the same period in 2014. These increases were offset by a decrease of $1.0 million in credit related expenses.

Noninterest expense for the six months ended June 30, 2015 was $77.9 million, an increase of $3.9 million, or 5.3%, from $74.0 million for the same period of 2014. Salaries and employee benefits expense increased $5.0 million due to an increase in the number of full-time equivalent employees. Data processing fees and furniture and equipment expenses also increased by $392 thousand and $560 thousand, respectively, compared to the same period in 2014. Occupancy and advertising and marketing expenses also increased by $163 thousand and $279 thousand, respectively. Professional fees also increased by $49 thousand. These increases were offset by a decrease of $82 thousand in FDIC assessment expenses and $272 thousand decrease in credit related expenses compared to the same period in 2014.

The breakdown of changes in noninterest expense by category is shown in the following table:

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	Three Months Ended June 30,				Increase (Decrease)
	2015		2014		Amount			Percent (%)
	(Dollars in thousands)
Salaries and employee benefits	$	20,932	$	18,143	$	2,789		15.4	%
Occupancy	4,810		4,715		95			2.0	%
Furniture and equipment	2,323		2,012		311			15.5	%
Advertising and marketing	1,484		1,508		(24		)	(1.6	)%
Data processing and communications	2,463		2,299		164			7.1	%
Professional fees	1,253		1,315		(62		)	(4.7	)%
FDIC assessment	909		1,080		(171		)	(15.8	)%
Credit related expenses	1,976		3,016		(1,040		)	(34.5	)%
Other	2,548		3,651		(1,103		)	(30.2	)%
Total noninterest expense	$	38,698	$	37,739	$	959		2.5	%
	Six Months Ended June 30,				Increase (Decrease)
	2015		2014		Amount			Percent (%)
	(Dollars in thousands)
Salaries and employee benefits	$	42,113	$	37,082	$	5,031		13.6	%
Occupancy	9,502		9,339		163			1.7	%
Furniture and equipment	4,586		4,026		560			13.9	%
Advertising and marketing	2,875		2,596		279			10.7	%
Data processing and communications	4,812		4,420		392			8.9	%
Professional fees	2,677		2,628		49			1.9	%
FDIC assessment	2,021		2,103		(82		)	(3.9	)%
Credit related expenses	4,165		4,437		(272		)	(6.1	)%
Other	5,181		7,382		(2,201		)	(29.8	)%
Total noninterest expense	$	77,932	$	74,013	$	3,919		5.3	%

Provision for Income Taxes

Income tax expense was $15.3 million and $14.9 million for the quarters ended June 30, 2015 and 2014, respectively. The effective income tax rates were 40.0% and 40.1% for the quarters ended June 30, 2015 and 2014, respectively. Income tax expense was $29.6 million and $29.5 million for the six months ended June 30, 2015 and 2014, respectively. The effective income tax rates for the six months ended June 30, 2015 and 2014 were 40.0% and 39.9%, respectively.

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Financial Condition

At June 30, 2015, our total assets were $7.33 billion, an increase of $193.0 million from $7.14 billion at December 31, 2014. The increase was principally due to a $248.3 million increase in loans receivable, net of allowance for loan losses, a $78.9 million increase in securities available for sale, and a $31.4 million increase in other assets. The increases were offset by decreases in cash and cash equivalents totaling $162.3 million and a decrease in FHLB stock of $9.2 million. The increase in total assets was funded primarily by a $64.8 million increase in deposits and net income of $44.3 million.

Investment Securities Portfolio

As of June 30, 2015, we had $875.4 million in available for sale securities, compared to $796.5 million at December 31, 2014. The net unrealized loss on the available for sale securities at June 30, 2015 was $963 thousand, compared to a net unrealized gain on such securities of $2.6 million at December 31, 2014. During the six months ended June 30, 2015, $176.2 million in securities were purchased, $69.2 million in mortgage related securities were paid down and $22.5 million in securities were sold. During the same period last year, $82.6 million in securities were purchased, $57.6 in mortgage related securities were paid down and no securities were sold. The weighted average duration (the weighted average of the times of the present values of all the cash flows) of the available for sale securities was 4.53 years and 4.06 years at June 30, 2015 and December 31, 2014, respectively. The weighted average life (the weighted average of the times of the principal repayments) of the available for sale securities was 5.07 years and 4.49 years at June 30, 2015 and December 31, 2014, respectively.

Loan Portfolio

As of June 30, 2015, loans receivable totaled $5.82 billion, an increase of $250.6 million from $5.57 billion at December 31, 2014. Total loan originations during the three months ended June 30, 2015 were $360.2 million, including SBA loan originations of $70.3 million, of which $58.3 million was included as additions to loans held for sale during the period.

The following table summarizes our loan portfolio by amount and percentage of total loans outstanding in each major loan category at the dates indicated:

	June 30, 2015					December 31, 2014
	Amount			Percent (%)		Amount			Percent (%)
				(Dollars in thousands)
Loan portfolio composition
Real estate loans:
Residential	$	36,706		0	%	$	21,415		0	%
Commercial & industrial	4,503,794			77	%	4,324,349			78	%
Construction	104,901			2	%	94,086			2	%
Total real estate loans	4,645,401			79	%	4,439,850			80	%
Commercial business	970,787			17	%	903,621			16	%
Trade finance	114,927			2	%	134,762			2	%
Consumer and other	87,707			2	%	89,849			2	%
Total loans outstanding	5,818,822			100	%	5,568,082			100	%
Less: deferred loan fees	(2,998		)			(2,890		)
Loans receivable	5,815,824					5,565,192
Less: allowance for loan losses	(70,118		)			(67,758		)
Loans receivable, net of allowance for loan losses	$	5,745,706				$	5,497,434

SBA loans are included in commercial business loans and commercial and industrial real estate loans. SBA loans included in commercial business loans were $47.7 million at June 30, 2015 and $52.0 million at December 31, 2014. SBA loans included in commercial and industrial real estate loans were $192.5 million at June 30, 2015 and $188.8 million at December 31, 2014.

We normally do not extend lines of credit or make loan commitments to business customers for periods in excess of one year. We use the same credit policies in making commitments and conditional obligations as we do for providing loan facilities to our customers. We perform annual reviews of such commitments prior to renewal.

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The following table shows our loan commitments and letters of credit outstanding at the dates indicated:

	June 30, 2015		December 31, 2014
	(In thousands)
Loan commitments	$	710,345	$	586,714
Standby letters of credit	43,388		41,987
Other commercial letters of credit	55,868		37,439
	$	809,601	$	666,140

Nonperforming Assets

Nonperforming assets, which consist of nonaccrual loans, loans 90 days or more past due and on accrual status, accruing restructured loans and OREO, were $117.6 million at June 30, 2015 compared to $125.8 million at December 31, 2014. The ratio of nonperforming assets to loans receivable and OREO was 2.01% and 2.25% at June 30, 2015 and December 31, 2014, respectively.

The following table summarizes the composition of our nonperforming assets as of the dates indicated.

	June 30, 2015			December 31, 2014
	(Dollars in thousands)
Nonaccrual loans (1)	$	39,681		$	46,352
Loans 90 days or more days past due on accrual status	333			361
Accruing restructured loans	57,393			57,128
Total nonperforming loans	97,407			103,841
OREO	20,187			21,938
Total nonperforming assets	$	117,594		$	125,779
Nonperforming loans to loans receivable	1.67		%	1.87		%
Nonperforming assets to loans receivable and OREO	2.01		%	2.25		%
Nonperforming assets to total assets	1.60		%	1.76		%
Allowance for loan losses to nonperforming loans	71.98		%	65.25		%
Allowance for loan losses to nonperforming assets	59.63		%	53.87		%

⁽¹⁾  Nonaccrual loans exclude the guaranteed portion of delinquent SBA loans that are in liquidation totaling $22.6 million and $28.9 million as of June 30, 2015 and December 31, 2014, respectively.

Allowance for Loan Losses

The allowance for loan losses was $70.1 million at June 30, 2015 compared to $67.8 million at December 31, 2014. The allowance for loan losses was 1.21% of loans receivable at June 30, 2015 and 1.22% of loans receivable at December 31, 2014. The increase in the allowance for loan losses was driven by an increase in the amount of qualitative reserves. The qualitative reserves increased due to an increase in the volume of loans compared to December 31, 2014. The increase in qualitative reserves were offset by decreases in the quantitative reserves which was caused by decreasing historical losses and decreasing "Substandard" rated loans. In addition, the reserve on our impaired loans decreased to $8.1 million at June 30, 2015 from $10.9 million at December 31 ,2014.

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The following table reflects our allocation of the allowance for loan and lease losses ("ALLL") by loan type and the ratio of each loan category to total loans as of the dates indicated:

	Allocation of Allowance for Loan Losses
	June 30, 2015				December 31, 2014
	Amount of Allowance for Loan Losses		Percent of ALLL to Total ALLL		Amount of Allowance for Loan Losses		Percent of ALLL to Total ALLL
	(Dollars in thousands)
Loan Type
Real estate - residential	$	247	0.35	%	$	146	0.22	%
Real estate - commercial	50,147		71.52	%	46,535		68.68	%
Real estate - construction	593		0.85	%	667		0.98	%
Commercial business	16,278		23.21	%	16,471		24.31	%
Trade finance	1,760		2.51	%	3,456		5.10	%
Consumer and other	1,093		1.56	%	483		0.71	%
Total	$	70,118	100	%	$	67,758	100	%

For a better understanding of the changes in the ALLL, the loan portfolio has been segmented for disclosures purposes between loans which are accounted for under the amortized cost method (Legacy Loans) and loans acquired from acquisitions (Acquired Loans). Acquired Loans have been further segregated between Acquired Credit Impaired Loans (loans with credit deterioration at the time they were acquired and accounted for under ASC 310-30, or "ACILs") and performing loans (loans that were pass graded at the time they were acquired, or "APLs"). The activity in the ALLL for the three and six months ended June 30, 2015 is as follows:

				Acquired Loans(2)
Three Months Ended June 30, 2015	Legacy Loans(1)			ACILs			APLs			Total
	(Dollars in thousands)
Balance, beginning of period	$	55,397		$	12,647		$	1,550		$	69,594
Provision for loan losses	472			—			528			1,000
Loans charged off	(1,268		)	—			(183		)	(1,451		)
Recoveries of loan charge offs	962			—			13			975
Balance, end of period	$	55,563		$	12,647		$	1,908		$	70,118
				Acquired Loans (2)
Six Months Ended June 30, 2015	Legacy Loans (1)			ACILs			APLs			Total
	(Dollars in thousands)
Balance, beginning of period	$	58,644		$	7,347		$	1,767		$	67,758
Provision for loan losses	(3,357		)	5,300			557			2,500
Loans charged off	(2,143		)	—			(433		)	(2,576		)
Recoveries of loan charge offs	2,419			—			17			2,436
Balance, end of period	$	55,563		$	12,647		$	1,908		$	70,118
Total loans outstanding	$	5,295,008		$	135,653		$	388,161		$	5,818,822
Loss coverage ratio	1.05		%	9.32		%	0.49		%	1.21		%
(1)  Legacy Loans includes Acquired Loans that have been renewed or refinanced subsequent to the acquisition date.
(2)  Acquired Loans were marked to fair value at the acquisition date and provisions for loan losses reflect credit deterioration subsequent to the acquisition date.

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The following table shows the provisions made for loan losses, the amount of loans charged off and the recoveries on loans previously charged off, together with the balance in the ALLL at the beginning and end of each period, the amount of average and loans receivable outstanding, and certain other ratios as of the dates and for the periods indicated:

	At or for the Three Months Ended June 30,
	2015			2014
	(Dollars in thousands)
LOANS:
Average loans receivable, including loans held for sale	$	5,742,153		$	5,289,059
Loans receivable	$	5,815,824		$	5,347,057
ALLOWANCE:
Balance, beginning of period	$	69,594		$	65,699
Less loan charge offs:
Commercial & industrial real estate	(74		)	(914		)
Commercial business loans	(618		)	(1,839		)
Trade finance	(759		)	—
Consumer and other loans	—			(18		)
Total loan charge offs	(1,451		)	(2,771		)
Plus loan recoveries:
Commercial & industrial real estate	61			149
Commercial business loans	817			584
Trade Finance	—			—
Consumer and other loans	97			213
Total loans recoveries	975			946
Net loan charge offs	(476		)	(1,825		)
Provision for loan losses	1,000			2,996
Balance, end of period	$	70,118		$	66,870
Net loan (recoveries) charge offs to average loans receivable, including loans held for sale*	0.01		%	0.14		%
Allowance for loan losses to loans receivable at end of period	1.21		%	1.25		%
Net loan (recoveries) charge offs to beginning allowance *	2.74		%	11.11		%
Net loan (recoveries) charge offs to provision for loan losses	47.60		%	60.91		%
* Annualized

We believe the allowance for loan losses as of June 30, 2015 is adequate to absorb probable incurred losses in the loan portfolio. However, no assurance can be given that actual losses will not exceed the estimated amounts.

Deposits and Other Borrowings

Deposits. Deposits are our primary source of funds used in our lending and investment activities. At June 30, 2015, deposits increased $64.8 million, or 1.1%, to $5.76 billion from $5.69 billion at December 31, 2014. The net increase in deposits is primarily due to increases in retail deposits due to the impact of recent deposit campaigns and promotions. In addition, wholesale deposits were increased to help fund loan growth. Interest bearing demand deposits, including money market and Super Now accounts and time deposits, totaled $4.07 billion at June 30, 2015 and $4.15 billion at December 31, 2014.

At June 30, 2015, 29% of total deposits were noninterest bearing demand deposits, 39% were time deposits and 32% were interest bearing demand and savings deposits. At December 31, 2014, 27% of total deposits were noninterest bearing demand deposits, 40% were time deposits, and 33% were interest bearing demand and savings deposits.

At June 30, 2015, we had $241.8 million in brokered deposits and $300.0 million in California State Treasurer deposits, compared to $206.3 million and $300.0 million of such deposits at December 31, 2014, respectively. The California State Treasurer deposits had three-month maturities with a weighted average interest rate of 0.04% at June 30, 2015 and were collateralized with securities with a carrying value of $337.7 million.

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The following is a schedule of certificates of deposit maturities as of June 30, 2015:

	Balance		Percent (%)
	(Dollars in thousands)
Three months or less	$	720,621	31.94	%
Over three months through six months	365,665		16.21	%
Over six months through nine months	354,052		15.69	%
Over nine months through twelve months	456,391		20.23	%
Over twelve months	359,452		15.93	%
Total time deposits	$	2,256,181	100.00	%

Other Borrowings. Advances may be obtained from the FHLB as an alternative source of funds. FHLB advances are typically secured by a pledge of commercial real estate loans and/or securities with a market value at least equal to the outstanding advances plus our investment in FHLB stock.

At June 30, 2015, we had $580.8 million of FHLB advances with average remaining maturities of 2.2 years, compared to $481.0 million with average remaining maturities of 2.6 years at December 31, 2014. The weighted average rate was 1.05% and 1.09% at June 30, 2015 and December 31, 2014, respectively.

Subordinated debentures totaled $42.2 million at June 30, 2015 and $42.2 million at December 31, 2014. The Trust Preferred Securities accrue and pay distributions periodically at specified annual rates as provided in the related indentures for the securities. The Trusts used the net proceeds from their respective offerings to purchase a like amount of subordinated debentures (the “Debentures”) issued by us. The Debentures are the sole assets of the trusts. Our obligations under the Debentures and related documents, taken together, constitute a full and unconditional guarantee by us of the obligations of the trusts. The Trust Preferred Securities are mandatorily redeemable upon the maturity of the Debentures, or upon earlier redemption as provided in the indentures. We have the right to redeem the Debentures in whole (but not in part) on or after specific dates, at redemption prices specified in the indentures plus any accrued but unpaid interest to the redemption date.

Off-Balance-Sheet Activities and Contractual Obligations

We routinely engage in activities that involve, to varying degrees, elements of risk that are not reflected, in whole or in part, in the consolidated financial statements. These activities are part of our normal course of business and include traditional off-balance-sheet credit-related financial instruments, interest rate swap contracts, operating leases and long-term debt.

Traditional off-balance-sheet credit-related financial instruments are primarily commitments to extend credit and standby letters of credit. These activities could require us to make cash payments to third parties if certain specified future events occur. The contractual amounts represent the extent of our exposure in these off-balance-sheet activities. However, since certain off-balance-sheet commitments, particularly standby letters of credit, are expected to expire or be only partially used, the total amount of commitments does not necessarily represent future cash requirements. These activities are necessary to meet the financing needs of our customers.

We enter into interest rate swap contracts under which we are required to either receive cash from or pay cash to counterparties depending on changes in interest rates. We also purchase interest rate caps to protect against increases in market interest rates. We utilize interest rate swap contracts and interest rate caps to help manage the risk of changing interest rates.

We sell interest rate swaps to certain adjustable rate commercial loan customers to fix the interest rate on their floating rate loan. When the fixed rate swap is originated with the customer, an identical offsetting swap is also entered into by us with a correspondent bank.

Our leased banking facilities and equipment are leased under non-cancelable operating leases under which we must make monthly payments over periods up to 15 years.

We do not anticipate that our current off-balance-sheet activities will have a material impact on our future results of operations or our financial condition. Further information regarding our financial instruments with off-balance-sheet risk can be found in Item 3 “Quantitative and Qualitative Disclosures about Market Risk.”

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Stockholders’ Equity and Regulatory Capital

Historically, our primary source of capital has been the retention of earnings, net of dividend payments to shareholders. We seek to maintain capital at a level sufficient to assure our stockholders, our customers and our regulators that our Company and our bank subsidiary are financially sound. For this purpose, we perform ongoing assessments of our components of capital, as well as projected sources and uses of capital in conjunction with projected increases in assets and levels of risks.

Total stockholders’ equity was $908.6 million at June 30, 2015 compared to $882.8 million at December 31, 2014.

The federal banking agencies require a minimum ratio of qualifying total capital to risk-weighted assets of 8% and a minimum ratio of Tier I capital to risk-weighted assets of 6%. In addition to the risk-based guidelines, federal banking agencies require banking organizations to maintain a minimum amount of Tier I capital to average total assets, referred to as the leverage ratio, of 4%. Beginning January 1, 2015 agencies require a minimum Common Equity Tier 1 capital to risk weighted assets ratio of 4.5%. Capital requirements apply to the Company and the Bank separately. In addition to these uniform risk-based capital guidelines and leverage ratios that apply across the industry, the regulators have the discretion to set individual minimum capital requirements for specific institutions at rates significantly above the minimum guidelines and ratios.

At June 30, 2015, our Common Equity Tier 1 capital was $802.8 million. Our Tier I capital, defined as stockholders’ equity less intangible assets was $843.6 million, compared to $812.5 million at December 31, 2014, representing an increase of $31.2 million, or 3.8%. The increase was primarily due to the increase in retained earnings from net income during the six months ended June 30, 2015 of $44.3 million, which was partially offset by $15.9 million of cash dividends. At June 30, 2015, the Common Equity Tier 1 capital ratio was 12.58%. The total capital to risk-weighted assets ratio was 14.34% and the Tier I capital to risk-weighted assets ratio was 13.22%. The Tier I leverage capital ratio was 11.80%.

As of June 30, 2015 and December 31, 2014, the most recent regulatory notification categorized the Bank as "well capitalized" under the regulatory framework for prompt corrective action. To be generally categorized as "well-capitalized", the Bank must maintain minimum Common Equity Tier 1 capital, total risk-based, Tier I risk-based and Tier I leverage capital ratios as set forth in the table below.

	As of June 30, 2015 (Dollars in thousands)
	Actual				To Be Well-Capitalized				Excess
	Amount		Ratio		Amount		Ratio		Amount		Ratio
BBCN Bancorp, Inc
Common Equity Tier 1 capital ratio	$	802,821	12.58	%	N/A		N/A
Total risk-based capital ratio	$	915,181	14.34	%	N/A		N/A
Tier 1 risk-based capital ratio	$	843,637	13.22	%	N/A		N/A
Tier 1 capital to total assets	$	843,637	11.80	%	N/A		N/A
BBCN Bank
Common Equity Tier 1 capital ratio	$	833,935	13.08	%	$	414,387	6.50	%	$	419,548	6.58	%
Total risk-based capital ratio	$	905,479	14.20	%	$	637,518	10.00	%	$	267,961	4.20	%
Tier 1 risk-based capital ratio	$	833,935	13.08	%	$	510,014	8.00	%	$	323,921	5.08	%
Tier I capital to total assets	$	833,935	11.67	%	$	357,379	5.00	%	$	476,556	6.67	%
	As of December 31, 2014 (Dollars in thousands)
	Actual				To Be Well-Capitalized				Excess
	Amount		Ratio		Amount		Ratio		Amount		Ratio
BBCN Bancorp, Inc
Total risk-based capital ratio	$	881,794	14.80	%	N/A		N/A
Tier 1 risk-based capital ratio	$	812,464	13.64	%	N/A		N/A
Tier 1 capital to total assets	$	812,464	11.62	%	N/A		N/A
BBCN Bank
Total risk-based capital ratio	$	869,343	14.61	%	$	595,126	10.00	%	$	274,217	4.61	%
Tier 1 risk-based capital ratio	$	800,013	13.44	%	$	357,076	6.00	%	$	442,937	7.44	%
Tier I capital to total assets	$	800,013	11.45	%	$	349,481	5.00	%	$	450,532	6.45	%

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Liquidity Management

Liquidity risk is the risk of reduction in our earnings or capital that would result if we were not able to meet our obligations when they come due without incurring unacceptable losses.  Liquidity risk includes the risk of unplanned decreases or changes in funding sources and changes in market conditions that affect our ability to liquidate assets quickly and with minimum loss of value.  Factors considered in liquidity risk management are the stability of the deposit base; the marketability, maturity, and pledging of our investments; the availability of alternative sources of funds; and our demand for credit. The objective of our liquidity management is to have funds available to meet cash flow requirements arising from fluctuations in deposit levels and the demands of daily operations, which include funding of securities purchases, providing for customers' credit needs, and ongoing repayment of borrowings.

Our primary sources of liquidity are derived from financing activities, which include customer and broker deposits, federal funds facilities, and borrowings from the FHLB and the FRB Discount Window.  These funding sources are augmented by payments of principal and interest on loans and securities, proceeds from sale of loans and the liquidation or sale of securities from our available for sale portfolio.  Primary uses of funds include withdrawal of and interest payments on deposits, originations of loans, purchases of investment securities, and payment of operating expenses.

At June 30, 2015, our total borrowing capacity from the FHLB was $2.23 billion, of which $1.65 billion was unused and available to borrow. At June 30, 2015, our total borrowing capacity from the FRB was $531.4 million, of which $531.4 million was unused and available to borrow. In addition to these lines, our liquid assets, consisting of cash and cash equivalents, interest bearing cash deposits with other banks, overnight federal funds sold to other banks, liquid investment securities available for sale, and loan repayments within 30 days, were $843.0 million at June 30, 2015, compared to $929.0 million at December 31, 2014. Cash and cash equivalents, including federal funds sold, were $321.3 million at June 30, 2015, compared to $462.2 million at December 31, 2014. We believe our liquidity sources to be stable and adequate to meet our day-to-day cash flow requirements.

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Item 3. Quantitative and Qualitative Disclosures About Market Risk

The objective of our asset and liability management activities is to maximize our earnings while maintaining adequate liquidity and an exposure to interest rate risk deemed by management to be acceptable by adjusting the type and mix of assets and liabilities to seek to effectively address changing conditions and risks. Through overall management of our balance sheet and by seeking to control various risks, we seek to optimize our financial returns within safe and sound parameters. Our operating strategies for attaining this objective include managing net interest margin through appropriate risk/return pricing of assets and liabilities and emphasizing growth in retail deposits, as a percentage of interest bearing liabilities, to reduce our cost of funds. We also seek to improve earnings by controlling noninterest expense, and enhancing noninterest income. We also use risk management instruments to modify interest rate characteristics of certain assets and liabilities to hedge against our exposure to interest rate fluctuations with the objective of reducing the effects fluctuations might have on associated cash flows or values. Finally, we perform internal analysis to measure, evaluate and monitor risk.

Interest Rate Risk

Interest rate risk is the most significant market risk impacting us. Interest rate risk occurs when interest rate sensitive assets and liabilities do not reprice simultaneously and in equal volume. A key objective of asset and liability management is to manage interest rate risk associated with changing asset and liability cash flows and values of our assets and liabilities and market interest rate movements. The management of interest rate risk is governed by policies reviewed and approved annually by the Board of Directors. Our Board delegates responsibility for interest rate risk management to the Asset and Liability Committee of the Board ("ALCO") and to the Asset and Liability Management Committee (“ALM”), which is composed of the Bank’s senior executives and other designated officers.

Market risk is the risk of adverse impacts on our future earnings, the fair values of our assets and liabilities, or our future cash flows that may result from changes in the price of a financial instrument. The fundamental objective of our ALM is to manage our exposure to interest rate fluctuations while maintaining adequate levels of liquidity and capital. Our ALM meets regularly to monitor interest rate risk, the sensitivity of our assets and liabilities to interest rate changes, the book and market values of our assets and liabilities, and our investment activities. It also directs changes in the composition of our assets and liabilities. Our strategy has been to reduce the sensitivity of our earnings to interest rate fluctuations by more closely matching the effective maturities or repricing characteristics of our assets and liabilities. Certain assets and liabilities, however, may react in different degrees to changes in market interest rates. Furthermore, interest rates on certain types of assets and liabilities may fluctuate prior to changes in market interest rates, while interest rates on other types may lag behind changes in market interest rates. We consider the anticipated effects of these factors when implementing our interest rate risk management objectives.

Interest Rate Sensitivity

We monitor interest rate risk through the use of a simulation model that provides us with the ability to simulate our net interest income. In order to measure, at June 30, 2015, the sensitivity of our forecasted net interest income to changing interest rates, both rising and falling interest rate scenarios were projected and compared to base market interest rate forecasts. One application of our simulation model measures the impact of market interest rate changes on the net present value of estimated cash flows from our assets and liabilities, defined as our market value of equity. This analysis assesses the changes in market values of interest rate sensitive financial instruments that would occur in response to immediate and parallel changes in market interest rates.

The impacts on our net interest income and market value of equity exposed to immediate and parallel hypothetical changes in market interest rates as projected by the model we use for this purpose are illustrated in the following table.

	June 30, 2015				December 31, 2014
Simulated	Estimated Net Interest Income Sensitivity		Market Value Of Equity Volatility		Estimated Net Interest Income Sensitivity		Market Value Of Equity Volatility
Rate Changes
+ 200 basis points	6.14	%	(2.45	)%	5.74	%	(2.77	)%
+ 100 basis points	2.77	%	(1.00	)%	2.68	%	(1.07	)%
- 100 basis points	(0.14	)%	0.18	%	(1.02	)%	0.06	%
- 200 basis points	(0.34	)%	(2.55	)%	(1.39	)%	(2.09	)%

68

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

The Company maintains disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act), designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the U.S. Securities and Exchange Commission’s rules and forms and that such information is accumulated and communicated to management, including the Principal Executive Officer and the Principal Financial Officer, as appropriate, to allow for timely decisions regarding required disclosure. In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management is required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.

The Company’s management, with the participation of our Principal Executive Officer and Principal Financial Officer, has evaluated the effectiveness of our disclosure controls and procedures as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on such evaluation, our Principal Executive Officer and Principal Financial Officer have concluded that, as of the end of such period, our disclosure controls and procedures are effective in ensuring that information required to be disclosed by the Company in the reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the U.S. Securities and Exchange Commission’s rules and forms, and is accumulated and communicated to management, including the Principal Executive Officer and the Principal Financial Officer, as appropriate, to allow for timely decisions regarding required disclosure.

Changes in Internal Control over Financial Reporting

There have been no changes in our internal control over financial reporting during the quarter ended June 30, 2015 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

69

PART II

OTHER INFORMATION

Item 1. Legal Proceedings

We are involved in routine litigation incidental to our business, none of which is expected to have a material adverse effect on us.

Item 1A. Risk Factors

Management is not aware of any material changes to the risk factors discussed in Part 1, Item 1A of the Annual Report on Form 10-K for the year ended December 31, 2014. In addition to the other information set forth in this Quarterly Report on Form 10-Q, you should carefully consider the risk factors discussed in Part I, Item 1A of the Annual Report on Form 10-K for the year ended December 31, 2014, which could materially and adversely affect the Company’s business, financial condition and results of operations. The risks described in the Annual Report on Form 10-K are not the only risks facing the Company. Additional risks and uncertainties not presently known to management or that management presently believes not to be material

may also result in material and adverse effects on our business, financial condition and results of operations.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

None.

Item 5. Other Information

(a)           Additional Disclosures.None.

(b)           Stockholder Nominations. There have been no material changes in the procedures by which shareholders may recommend nominees to the Board of Directors during the three months ended June 30, 2015. Please see the discussion of these procedures in the most recent proxy statement on Schedule 14A filed with the U.S. Securities and Exchange Commission.

Item 6. Exhibits

See “Index to Exhibits.”

70

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		BBCN BANCORP, INC.
Date:	August 6, 2015	/s/ Kevin S. Kim
		Kevin S. Kim
		Chairman, President and Chief Executive Officer
Date:	August 6, 2015	/s/ Douglas J. Goddard
		Douglas J. Goddard
		Executive Vice President and Chief Financial Officer

71

INDEX TO EXHIBITS

Exhibit Number	Description
31.1	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*
31.2	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*
32.1	Certification of Chief Executive Officer pursuant to Section 906 of the Public Company Accounting Reform and Investor Protection Act of 2002**
32.2	Certification of Chief Financial Officer pursuant to section 906 of the Public Company Accounting Reform and Investor Protection Act of 2002**
101.INS	XBRL Instance Document**
101.SCH	XBRL Taxonomy Extension Schema Document**
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document**
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document**
101.LAB	XBRL Taxonomy Extension Label Linkbase Document**
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document**

__________________________________

* Filed herewith

** Furnished herewith

72

EX-31.1

EXHIBIT 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Kevin S. Kim, certify that:

1. I have reviewed this periodic report on Form 10-Q of BBCN Bancorp, Inc.

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrants' board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Dated: August 6, 2015 /s/ Kevin S. Kim

_______________________________

Kevin S. Kim

Chairman, President and Chief Executive Officer

EX-31.2

EXHIBIT 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Douglas J. Goddard, certify that:

1. I have reviewed this periodic report on Form 10-Q of BBCN Bancorp, Inc.

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrants' board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 6, 2015

/s/ Douglas J. Goddard

_______________________________

Douglas J. Goddard

Executive Vice President and

Chief Financial Officer                        

EX-32.1

EXHIBIT 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 906 OF THE

PUBLIC COMPANY ACCOUNTING REFORM AND INVESTOR PROTECTION ACT OF 2002

In connection with the periodic report of BBCN Bancorp, Inc. (the “Company”) on Form 10-Q for the period ended June 30, 2015, as filed with the Securities and Exchange Commission (the “Report”), I, Kevin S. Kim, Chief Executive Officer of the Company, hereby certify as of the date hereof, solely for purposes of Title 18, Chapter 63, Section 1350 of the United States Code, that:

     (1)    the Report fully complies with the requirements of section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934; and

     (2)    the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

This Certification has not been, and shall not be deemed, “filed” with the Securities and Exchange Commission.

Dated: August 6, 2015

/s/ Kevin S. Kim

__________________________

Kevin S. Kim

Chairman, President and Chief Executive Officer

EX-32.2

EXHIBIT 32.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 906 OF THE

PUBLIC COMPANY ACCOUNTING REFORM AND INVESTOR PROTECTION ACT OF 2002

In connection with the periodic report of BBCN Bancorp, Inc (the “Company”) on Form 10-K for the period ended June 30, 2015, as filed with the Securities and Exchange Commission (the “Report”), I, Douglas J. Goddard, Chief Financial Officer of the Company, hereby certify as of the date hereof, solely for purposes of Title 18, Chapter 63, Section 1350 of the United States Code, that:

     (1)    the Report fully complies with the requirements of section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934; and

     (2)    the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

This Certification has not been, and shall not be deemed, “filed” with the Securities and Exchange Commission.

Dated: August 6, 2015

/s/ Douglas J. Goddard

_______________________________

Douglas J. Goddard

Executive Vice President and

Chief Financial Officer        

XML

Stock-Based Compensation - Stock Option Activity (Details) - Jun. 30, 2015 - Stock options - USD ($)	Total
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding - beginning of period (in shares)	591,652
Granted (in shares)	0
Exercised (in shares)	0
Expired (in shares)	(3,902)
Forfeited (in shares)	0
Outstanding - end of period (in shares)	587,750
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding - beginning of period, Weighted-Average Exercise Price Per Share (in dollars per share)	$ 19.00
Granted, Weighted-Average Exercise Price Per Share (in dollars per share)	0.00
Exercised, Weighted-Average Exercise Price Per Share (in dollars per share)	0.00
Expired, Weighted-Average Exercise Price Per Share (in dollars per share)	25.94
Forfeited, Weighted-Average Exercise Price Per Share (in dollars per share)	0.00
Outstanding - end of period, Weighted-Average Exercise Price Per Share (in dollars per share)	$ 18.93
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options exercisable - end of period (in shares)	417,750
Options exercisable, Weighted-Average Exercise Price Per Share (in dollars per share)	$ 20.19
Outstanding, Weighted-Average Remaining Contractual Life (Years)	2 years 2 months 20 days
Options exercisable, Weighted-Average Remaining Contractual Life (Years)	2 years 2 months 20 days
Outstanding, Aggregate Intrinsic Value	$ 0
Options exercisable, Aggregate Intrinsic Value	$ 0

XML

Loans Receivable and Allowance for Loan Losses - Troubled Debt Restructurings on Financing Receivables (Details)	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2015 USD ($) loan	Jun. 30, 2014 USD ($) loan	Jun. 30, 2015 USD ($) loan	Dec. 31, 2014 USD ($) loan
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	$ 75,406,000		$ 75,406,000	$ 76,144,000
Number of modified contracts | loan	10	15
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 4,939,000	$ 6,934,000
Post-Modification	$ 4,760,000	$ 6,668,000
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan	12	12
Balance	$ 4,555,000	$ 4,555,000
Specific reserves	2,368,000		2,400,000
Specific reserves for the TDRs	2,357,000		2,400,000
Charge offs	0		0
Specific reserves allocated to TDRs	5,900,000		5,900,000	5,700,000
Troubled debt restructuring , charge offs	0		42,000
Payment concession
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	20,692,000		20,692,000	17,148,000
Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member]
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	28,427,000		28,427,000	31,544,000
Rate concession
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	26,276,000		26,276,000	27,437,000
Principal forgiveness
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	11,000		11,000	15,000
TDR on accrual
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	57,393,000		57,393,000	57,128,000
TDR on accrual | Payment concession
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	12,350,000		12,350,000	12,791,000
TDR on accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member]
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	26,400,000		26,400,000	25,629,000
TDR on accrual | Rate concession
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	18,643,000		18,643,000	18,708,000
TDR on accrual | Principal forgiveness
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	0		0	0
TDR on non-accrual
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	18,013,000		18,013,000	19,016,000
TDR on non-accrual | Payment concession
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	8,342,000		8,342,000	4,357,000
TDR on non-accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member]
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	2,027,000		2,027,000	5,915,000
TDR on non-accrual | Rate concession
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	7,633,000		7,633,000	8,729,000
TDR on non-accrual | Principal forgiveness
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	11,000		$ 11,000	15,000
Commercial & industrial | TDR on accrual
Financing Receivable, Modifications [Line Items]
Troubled debt restructured				$ 28,108,000
Number of modified contracts | loan			25	24
Real estate | Commercial & industrial | TDR on accrual
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	28,894,000		$ 28,894,000	$ 28,108,000
Real estate | Commercial & industrial | TDR on accrual | Payment concession
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	11,885,000		11,885,000	12,235,000
Real estate | Commercial & industrial | TDR on accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member]
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	3,568,000		3,568,000	2,189,000
Real estate | Commercial & industrial | TDR on accrual | Rate concession
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	13,441,000		13,441,000	13,684,000
Real estate | Commercial & industrial | TDR on accrual | Principal forgiveness
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	0		0	0
Real estate | Commercial & industrial | TDR on non-accrual
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	12,561,000		12,561,000	13,520,000
Real estate | Commercial & industrial | TDR on non-accrual | Payment concession
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	3,888,000		3,888,000	3,840,000
Real estate | Commercial & industrial | TDR on non-accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member]
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	1,250,000		1,250,000	1,207,000
Real estate | Commercial & industrial | TDR on non-accrual | Rate concession
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	7,423,000		7,423,000	8,473,000
Real estate | Commercial & industrial | TDR on non-accrual | Principal forgiveness
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	0		0	0
Commercial business | TDR on accrual
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	24,433,000		$ 24,433,000	$ 25,633,000
Number of modified contracts | loan			31	30
Commercial business | TDR on accrual | Payment concession
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	465,000		$ 465,000	$ 556,000
Commercial business | TDR on accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member]
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	18,766,000		18,766,000	20,053,000
Commercial business | TDR on accrual | Rate concession
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	5,202,000		5,202,000	5,024,000
Commercial business | TDR on accrual | Principal forgiveness
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	0		0	0
Commercial business | TDR on non-accrual
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	5,049,000		5,049,000	3,770,000
Commercial business | TDR on non-accrual | Payment concession
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	4,454,000		4,454,000	517,000
Commercial business | TDR on non-accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member]
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	545,000		545,000	3,158,000
Commercial business | TDR on non-accrual | Rate concession
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	39,000		39,000	80,000
Commercial business | TDR on non-accrual | Principal forgiveness
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	11,000		11,000	15,000
Trade Finance and Other | TDR on accrual
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	4,066,000		4,066,000	3,387,000
Trade Finance and Other | TDR on accrual | Payment concession
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	0		0	0
Trade Finance and Other | TDR on accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member]
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	4,066,000		4,066,000	3,387,000
Trade Finance and Other | TDR on accrual | Rate concession
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	0		0	0
Trade Finance and Other | TDR on accrual | Principal forgiveness
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	0		0	0
Trade Finance and Other | TDR on non-accrual
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	403,000		403,000	1,726,000
Trade Finance and Other | TDR on non-accrual | Payment concession
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	0		0	0
Trade Finance and Other | TDR on non-accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member]
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	232,000		232,000	1,550,000
Trade Finance and Other | TDR on non-accrual | Rate concession
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	171,000		171,000	176,000
Trade Finance and Other | TDR on non-accrual | Principal forgiveness
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	0		0	0
Consumer and other | TDR on accrual
Financing Receivable, Modifications [Line Items]
Troubled debt restructured	$ 4,066,000		$ 4,066,000	$ 3,387,000
Number of modified contracts | loan			3	3
Legacy
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	9	14
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 4,875,000	$ 6,870,000
Post-Modification	$ 4,696,000	$ 6,604,000
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan	11	11
Balance	$ 4,524,000	$ 4,524,000
Legacy | Real estate
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	0	0
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 0	$ 0
Post-Modification	$ 0	$ 0
Legacy | Real estate | Payment concession
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan	2
Legacy | Real estate | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member]
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan	1
Balance	$ 325,000
Legacy | Real estate | Retail
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	1	1
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 255,000	$ 255,000
Post-Modification	$ 253,000	253,000
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan	0
Balance	$ 0	$ 0
Legacy | Real estate | Hotel & motel
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	0	0
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 0	$ 0
Post-Modification	$ 0	$ 0
Legacy | Real estate | Gas station & car wash
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	0	1
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 0	$ 142,000
Post-Modification	$ 0	$ 131,000
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan	1	1
Balance	$ 131,000	$ 131,000
Legacy | Real estate | Mixed use
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	0	0
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 0	$ 0
Post-Modification	$ 0	$ 0
Legacy | Real estate | Industrial & warehouse
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	0	0
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 0	$ 0
Post-Modification	$ 0	$ 0
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan	1	1
Balance	$ 21,000	$ 21,000
Legacy | Real estate | Other
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	0	2
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 0	$ 1,762,000
Post-Modification	$ 0	$ 1,734,000
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan	1	1
Balance	$ 325,000	$ 325,000
Legacy | Real estate | Commercial & industrial | Rate concession
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan		0
Legacy | Commercial business
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	8	10
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 4,620,000	$ 4,711,000
Post-Modification	$ 4,443,000	$ 4,486,000
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan	8	8
Balance	$ 4,047,000	$ 4,047,000
Legacy | Commercial business | Payment concession
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan	8
Balance	$ 4,047,000
Legacy | Trade finance
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	0	0
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 0	$ 0
Post-Modification	$ 0	$ 0
Legacy | Consumer and other
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	0	0
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 0	$ 0
Post-Modification	$ 0	$ 0
Acquired
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	1	1
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 64,000	$ 64,000
Post-Modification	$ 64,000	$ 64,000
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan	1	1
Balance	$ 31,000	$ 31,000
Acquired | Real estate
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	0	0
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 0	$ 0
Post-Modification	$ 0	$ 0
Acquired | Real estate | Retail
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	0	0
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 0	$ 0
Post-Modification	$ 0	$ 0
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan	0	0
Balance	$ 0	$ 0
Acquired | Real estate | Hotel & motel
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	0	0
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 0	$ 0
Post-Modification	$ 0	$ 0
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan	0	0
Balance	$ 0	$ 0
Acquired | Real estate | Gas station & car wash
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	0	0
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 0	$ 0
Post-Modification	$ 0	$ 0
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan	0	0
Balance	$ 0	$ 0
Acquired | Real estate | Mixed use
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	1	1
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 64,000	$ 64,000
Post-Modification	$ 64,000	$ 64,000
Acquired | Real estate | Industrial & warehouse
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	0	0
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 0	$ 0
Post-Modification	$ 0	$ 0
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan	0	0
Balance	$ 0	$ 0
Acquired | Real estate | Other
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	0	0
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 0	$ 0
Post-Modification	$ 0	$ 0
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan	0	0
Balance	$ 0	$ 0
Acquired | Commercial business
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	0	0
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 0	$ 0
Post-Modification	$ 0	$ 0
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan	1	1
Balance	$ 31,000	$ 31,000
Acquired | Commercial business | Payment concession
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default
Number of Loans | loan	1
Balance	$ 31,000
Acquired | Trade finance
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	0	0
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 0	$ 0
Post-Modification	$ 0	$ 0
Acquired | Consumer and other
Financing Receivable, Modifications [Line Items]
Number of modified contracts | loan	0	0
Troubled Debt Restructuring, By Loan Class
Pre-Modification	$ 0	$ 0
Post-Modification	$ 0	$ 0

XML

Loans Receivable and Allowance for Loan Losses - Allowance for Credit Losses on Financing Receivables (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Dec. 31, 2014
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period	$ 69,594	$ 65,699	$ 67,758	$ 67,320
Provision (credit) for loan losses	1,000	2,996	2,500	6,022
Loans charged off	(1,451)	(2,771)	(2,576)	(8,034)
Recoveries of charged offs	975	946	2,436	1,562
Balance, end of period	70,118	66,870	70,118	66,870
Allowance for loan losses:
Allowance for loan losses - Individually evaluated for impairment					$ 8,065	$ 10,922
Allowance for loan losses - Collectively evaluated for impairment					49,406	49,489
Allowance for loan losses - Total	69,594	65,699	67,758	67,320	70,118	67,758
Loans outstsanding:
Loans outstanding - Individually evaluated for impairment					118,698	127,145
Loans outstanding - Collectively evaluated for impairment					5,564,471	5,281,300
Loans outstanding - ACILs					5,745,706	5,497,434
Total loans outstanding					5,818,822	5,568,082
Legacy
Loans outstsanding:
Total loans outstanding					5,295,008	4,919,570
Acquired
Loans outstsanding:
Total loans outstanding					523,814	648,512
Real estate
Loans outstsanding:
Total loans outstanding					4,645,401	4,439,850
Real estate | Legacy
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period	35,772	38,586	38,775	40,068
Provision (credit) for loan losses	1,224	1,066	(2,398)	(348)
Loans charged off	(61)	(726)	(242)	(813)
Recoveries of charged offs	61	132	861	151
Balance, end of period	36,996	39,058	36,996	39,058
Allowance for loan losses:
Allowance for loan losses - Individually evaluated for impairment					1,783	1,940
Allowance for loan losses - Collectively evaluated for impairment					35,213	36,835
Allowance for loan losses - Total	35,772	38,586	38,775	40,068	36,996	38,775
Loans outstsanding:
Loans outstanding - Individually evaluated for impairment					54,022	57,506
Loans outstanding - Collectively evaluated for impairment					4,171,701	3,864,289
Total loans outstanding					4,225,723	3,921,795
Real estate | Acquired
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period	13,724	6,838	8,573	6,482
Provision (credit) for loan losses	280	622	5,590	1,073
Loans charged off	(13)	(188)	(172)	(283)
Recoveries of charged offs	0	17	0	17
Balance, end of period	13,991	7,289	13,991	7,289
Allowance for loan losses:
Allowance for loan losses - Individually evaluated for impairment					591	434
Allowance for loan losses - Collectively evaluated for impairment					753	792
Allowance for loan losses - Total	13,724	6,838	8,573	6,482	13,991	8,573
Loans outstsanding:
Loans outstanding - Individually evaluated for impairment					18,323	20,035
Loans outstanding - Collectively evaluated for impairment					313,877	397,147
Total loans outstanding					419,678	518,055
Commercial business
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period			16,471
Balance, end of period	16,278		16,278
Allowance for loan losses:
Allowance for loan losses - Total	16,278		16,471		16,278	16,471
Loans outstsanding:
Total loans outstanding					970,787	903,621
Commercial business | Legacy
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period	16,168	16,208	15,986	16,796
Provision (credit) for loan losses	(751)	(336)	(773)	2,211
Loans charged off	(448)	(1,794)	(899)	(5,519)
Recoveries of charged offs	809	581	1,464	1,171
Balance, end of period	15,778	14,659	15,778	14,659
Allowance for loan losses:
Allowance for loan losses - Individually evaluated for impairment					4,383	6,929
Allowance for loan losses - Collectively evaluated for impairment					11,395	9,057
Allowance for loan losses - Total	16,168	16,208	15,986	16,796	15,778	15,986
Loans outstsanding:
Loans outstanding - Individually evaluated for impairment					36,403	40,829
Loans outstanding - Collectively evaluated for impairment					875,857	784,407
Total loans outstanding					912,260	825,236
Commercial business | Acquired
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period	422	593	485	796
Provision (credit) for loan losses	240	88	262	1,099
Loans charged off	(170)	(45)	(257)	(1,265)
Recoveries of charged offs	8	3	10	9
Balance, end of period	500	639	500	639
Allowance for loan losses:
Allowance for loan losses - Individually evaluated for impairment					373	307
Allowance for loan losses - Collectively evaluated for impairment					127	178
Allowance for loan losses - Total	422	593	485	796	500	485
Loans outstsanding:
Loans outstanding - Individually evaluated for impairment					1,641	1,778
Loans outstanding - Collectively evaluated for impairment					30,425	43,460
Total loans outstanding					58,527	78,385
Trade finance
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period			3,456
Balance, end of period	1,760		1,760
Allowance for loan losses:
Allowance for loan losses - Total	1,760		3,456		1,760	3,456
Loans outstsanding:
Total loans outstanding					114,927	134,762
Trade finance | Legacy
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period	3,041	2,944	3,456	2,653
Provision (credit) for loan losses	(522)	1,624	(709)	1,972
Loans charged off	(759)	0	(987)	(57)
Recoveries of charged offs	0	0	0	0
Balance, end of period	1,760	4,568	1,760	4,568
Allowance for loan losses:
Allowance for loan losses - Individually evaluated for impairment					320	1,312
Allowance for loan losses - Collectively evaluated for impairment					1,440	2,144
Allowance for loan losses - Total	3,041	2,944	3,456	2,653	1,760	3,456
Loans outstsanding:
Loans outstanding - Individually evaluated for impairment					6,670	5,936
Loans outstanding - Collectively evaluated for impairment					108,257	128,826
Total loans outstanding					114,927	134,762
Trade finance | Acquired
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period	0	0	0	0
Provision (credit) for loan losses	0	0	0	0
Loans charged off	0	0	0	0
Recoveries of charged offs	0	0	0	0
Balance, end of period	0	0	0	0
Allowance for loan losses:
Allowance for loan losses - Individually evaluated for impairment					0	0
Allowance for loan losses - Collectively evaluated for impairment					0	0
Allowance for loan losses - Total	0	0	0	0	0	0
Loans outstsanding:
Loans outstanding - Individually evaluated for impairment					0	0
Loans outstanding - Collectively evaluated for impairment					0	0
Total loans outstanding					0	0
Consumer and other
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period			483
Balance, end of period	1,093		1,093
Allowance for loan losses:
Allowance for loan losses - Total	1,093		483		1,093	483
Loans outstsanding:
Total loans outstanding					87,707	89,849
Consumer and other | Legacy
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period	416	467	427	461
Provision (credit) for loan losses	521	(69)	523	(62)
Loans charged off	0	(18)	(15)	(19)
Recoveries of charged offs	92	211	94	211
Balance, end of period	1,029	591	1,029	591
Allowance for loan losses:
Allowance for loan losses - Individually evaluated for impairment					615	0
Allowance for loan losses - Collectively evaluated for impairment					414	427
Allowance for loan losses - Total	416	467	427	461	1,029	427
Loans outstsanding:
Loans outstanding - Individually evaluated for impairment					1,067	465
Loans outstanding - Collectively evaluated for impairment					41,031	37,312
Total loans outstanding					42,098	37,777
Consumer and other | Acquired
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period	51	63	56	64
Provision (credit) for loan losses	8	1	5	77
Loans charged off	0	0	(4)	(78)
Recoveries of charged offs	5	2	7	3
Balance, end of period	64	66	64	66
Allowance for loan losses:
Allowance for loan losses - Individually evaluated for impairment					0	0
Allowance for loan losses - Collectively evaluated for impairment					64	56
Allowance for loan losses - Total	51	$ 63	56	$ 64	64	56
Loans outstsanding:
Loans outstanding - Individually evaluated for impairment					572	596
Loans outstanding - Collectively evaluated for impairment					23,323	25,859
Total loans outstanding					45,609	52,072
Receivables acquired with deteriorated credit quality
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period			7,347
Balance, end of period	12,647		12,647
Allowance for loan losses:
Allowance for loan losses - Total	12,647		7,347		12,647	7,347
Loans outstsanding:
Loans outstanding - ACILs					135,653	159,637
Receivables acquired with deteriorated credit quality | Real estate | Legacy
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period			0
Balance, end of period	0		0
Allowance for loan losses:
Allowance for loan losses - Total	0		0		0	0
Loans outstsanding:
Loans outstanding - ACILs					0	0
Receivables acquired with deteriorated credit quality | Real estate | Acquired
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period			7,347
Balance, end of period	12,647		12,647
Allowance for loan losses:
Allowance for loan losses - Total	12,647		7,347		12,647	7,347
Loans outstsanding:
Loans outstanding - ACILs					87,478	100,873
Receivables acquired with deteriorated credit quality | Commercial business | Legacy
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period			0
Balance, end of period	0		0
Allowance for loan losses:
Allowance for loan losses - Total	0		0		0	0
Loans outstsanding:
Loans outstanding - ACILs					0	0
Receivables acquired with deteriorated credit quality | Commercial business | Acquired
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period			0
Balance, end of period	0		0
Allowance for loan losses:
Allowance for loan losses - Total	0		0		0	0
Loans outstsanding:
Loans outstanding - ACILs					26,461	33,147
Receivables acquired with deteriorated credit quality | Trade finance | Legacy
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period			0
Balance, end of period	0		0
Allowance for loan losses:
Allowance for loan losses - Total	0		0		0	0
Loans outstsanding:
Loans outstanding - ACILs					0	0
Receivables acquired with deteriorated credit quality | Trade finance | Acquired
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period			0
Balance, end of period	0		0
Allowance for loan losses:
Allowance for loan losses - Total	0		0		0	0
Loans outstsanding:
Loans outstanding - ACILs					0	0
Receivables acquired with deteriorated credit quality | Consumer and other | Legacy
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period			0
Balance, end of period	0		0
Allowance for loan losses:
Allowance for loan losses - Total	0		0		0	0
Loans outstsanding:
Loans outstanding - ACILs					0	0
Receivables acquired with deteriorated credit quality | Consumer and other | Acquired
Allowance for Loan Losses by Portfolio Segment
Balance, beginning of period			0
Balance, end of period	0		0
Allowance for loan losses:
Allowance for loan losses - Total	$ 0		$ 0		0	0
Loans outstsanding:
Loans outstanding - ACILs					$ 21,714	$ 25,617

XML

Stockholders' Equity - Discussion of Warrants (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Class of Warrant or Right [Line Items]
Redemption of common stock warrant	$ 1,150	$ 0
Dividend declared (in dollars per share)	$ 0.11	$ 0.075
Common Stock
Class of Warrant or Right [Line Items]
Potential repurchase	350,767
Maximum number of shares callable by warrants	19,014

XML

Loans Receivable and Allowance for Loan Losses - Covered Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Covered Nonperforming Assets
Covered loans on non-accrual status	$ 1,172	$ 1,355
Covered other real estate owned	956	96
Total covered nonperforming assets	2,128	1,451
Acquired covered loans	$ 27,259	$ 32,560

XML

Loans Receivable and Allowance for Loan Losses - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2015 USD ($) segment	Mar. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Jun. 30, 2014 USD ($)	Mar. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Real estate loans:
Loans	$ 5,818,822		$ 5,568,082
Less: deferred loan fees	(2,998)		(2,890)
Loans receivable	5,815,824		5,565,192
Less: allowance for loan losses	(70,118)	$ (69,594)	(67,758)	$ (66,870)	$ (65,699)	$ (67,320)
Loans receivable, net of allowance for loan losses	$ 5,745,706		5,497,434
Number of portfolio segments | segment	4
Real estate loans
Real estate loans:
Loans	$ 4,645,401		4,439,850
Real estate loans | Residential
Real estate loans:
Loans	36,706		21,415
Less: allowance for loan losses	(247)		(146)
Real estate loans | Commercial & industrial
Real estate loans:
Loans	4,503,794		4,324,349
Less: allowance for loan losses	(50,147)		(46,535)
Real estate loans | Construction
Real estate loans:
Loans	104,901		94,086
Less: allowance for loan losses	(593)		(667)
Commercial business
Real estate loans:
Loans	970,787		903,621
Less: allowance for loan losses	(16,278)		(16,471)
Trade finance
Real estate loans:
Loans	114,927		134,762
Less: allowance for loan losses	(1,760)		(3,456)
Consumer and other
Real estate loans:
Loans	87,707		89,849
Less: allowance for loan losses	$ (1,093)		$ (483)

XML

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized below:

			Fair Value Measurements at the End of the Reporting Period Using
	June 30, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Securities available for sale:
GSE collateralized mortgage obligations	$	362,153	$	—	$	362,153	$	—
GSE mortgage-backed securities	452,327		—		452,327		—
Trust preferred securities	3,963		—		3,963		—
Municipal bonds	39,669		—		38,523		1,146
Mutual funds	17,293		17,293		—		—

			Fair Value Measurements at the End of the Reporting Period Using
	December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Securities available for sale:
GSE collateralized mortgage obligations	$	302,774	$	—	$	302,774	$	—
GSE mortgage-backed securities	465,489		—		465,489		—
Trust preferred securities	3,987		—		3,987		—
Municipal bonds	6,930		—		5,752		1,178
Mutual funds	17,343		17,343		—		—

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The table below presents a reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the six months ended June 30, 2015:

	Six Months Ended June 30,
	2015			2014
	(In thousands)
Beginning Balance, January 1	$	1,178		$	1,112
Purchases, issuances and settlements	—			—
Amortization	—			—
Total gains or (losses) included in earnings	—			—
Total gains or (losses) included in other comprehensive income	(32		)	29
Ending Balance, June 30	$	1,146		$	1,141

Assets Measured at Fair Value on a Non-recurring Basis

Assets measured at fair value on a non-recurring basis are summarized below:

			Fair Value Measurements at the End of the Reporting Period Using
	June 30, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Impaired loans at fair value:
Real estate loans	$	38,705	$	—	$	38,705	$	—
Commercial business	7,546		—		7,546		—
Trade finance	1,654		—		1,654		—
Consumer	573		—		573		—
Loans held for sale, net	699		—		699		—
OREO	3,844		—		3,844		—

			Fair Value Measurements at the End of the Reporting Period Using
	December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Impaired loans at fair value:
Real estate loans	$	43,708	$	—	$	43,708	$	—
Commercial business	4,114		—		4,114		—
Trade Finance	1,883		—		1,883		—
Consumer	596		—		596		—
Loans held for sale, net	2,000		—		2,000		—
OREO	17,985		—		17,985		—

For assets measured at fair value on a non-recurring basis, the total net gains (losses), which include charge offs, recoveries, specific reserves, and gains and losses on sales recognized are summarized below:

	For the Three Months ended June 30,						For the Six Months ended June 30,
	2015			2014			2015		2014
	(In thousands)
Assets:
Impaired loans at fair value:
Real estate loans	$	(89	)	$	212		$	445	$	1,916
Commercial business	1,650			(242		)	2,924		(3,416		)
Trade Finance	315			(1,537		)	5		(2,196		)
Consumer	712			195			700		149
Loans held for sale, net	45			—			227		—
OREO	325			(320		)	814		(330		)

Carrying Amounts and Estimated Fair Values of Financial Instruments

Carrying amounts and estimated fair values of financial instruments, not previously presented, at June 30, 2015 and December 31, 2014 were as follows:

	June 30, 2015
	Carrying Amount		Estimated Fair Value		Fair Value Measurement Using
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	321,266	$	321,266	Level 1
Loans held for sale	33,785		35,439		Level 2
Loans receivable—net	5,745,706		6,097,107		Level 3
Customers’ liabilities on acceptances	1,359		1,359		Level 2
Financial Liabilities:
Noninterest bearing deposits	$	1,689,137	$	1,689,137	Level 2
Saving and other interest bearing demand deposits	1,812,972		1,812,972		Level 2
Time deposits	2,256,181		2,262,634		Level 2
FHLB advances	580,785		582,562		Level 2
Subordinated debentures	42,241		44,036		Level 2
Bank’s liabilities on acceptances outstanding	1,359		1,359		Level 2
	December 31, 2014
	Carrying Amount		Estimated Fair Value		Fair Value Measurement Using
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	462,160	$	462,160	Level 1
Loans held for sale	28,311		29,626		Level 2
Loans receivable—net	5,497,434		5,826,924		Level 3
Customers’ liabilities on acceptances	1,889		1,889		Level 2
Financial Liabilities:
Noninterest bearing deposits	$	1,543,018	$	1,543,018	Level 2
Saving and other interest bearing demand deposits	1,862,060		1,862,060		Level 2
Time deposits	2,288,374		2,292,831		Level 2
FHLB advances	480,975		481,290		Level 2
Subordinated debentures	42,158		43,987		Level 2
Bank’s liabilities on acceptances outstanding	1,889		1,889		Level 2

XML

Borrowings - Maturities of FHLB Borrowings (Details) $ in Thousands	Jun. 30, 2015 USD ($)
Contractual Maturities
Extinguishment of Debt [Line Items]
Due within one year	$ 165,000
Due after one year through five years	415,785
Total	580,785
Maturity/Put Date
Extinguishment of Debt [Line Items]
Due within one year	185,785
Due after one year through five years	395,000
Total	$ 580,785

XML

Stockholders' Equity - Stockholders’ Equity (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Accumulated other comprehensive income (loss)	$ (375)	$ 1,705
Securities (Assets)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Accumulated other comprehensive income (loss)	(445)	1,631
Accumulated Unrealized Gain (Losses) on Interest Only Strips
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Accumulated other comprehensive income (loss)	$ 70	$ 74

XML

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock Option Activity Under the Plan

The following is a summary of stock option activity under the 2007 Plan and 2006 Plan for the six months ended June 30, 2015:

	Number of Shares		Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Outstanding - January 1, 2015	591,652		$	19.00
Granted	—		—
Exercised	—		—
Expired	(3,902	)	25.94
Forfeited	—		—
Outstanding - June 30, 2015	587,750		$	18.93	2.22	$	—
Options exercisable - June 30, 2015	417,750		$	20.19	2.22	$	—

Summary of Restricted and Performance Unit Activity Under the Plan

The following is a summary of restricted and performance unit activity under the 2007 Plan and 2006 Plan for the six months ended June 30, 2015:

	Number of Shares		Weighted- Average Grant Date Fair Value
Outstanding - January 1, 2015	175,668		$	13.52
Granted	15,000		14.11
Vested	(53,083	)	12.20
Forfeited	(2,288	)	14.38
Outstanding - June 30, 2015	135,297		$	14.07

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Loans Receivable and Allowance for Loan Losses - Past Due Financing Receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2015		Dec. 31, 2014
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 7,518		$ 6,499
Non-accrual loans	39,681	[1]	46,353	[2]
Total Delinquent loans	47,199		52,852
Guaranteed portion of delinquent SBA loans excluded from Nonaccrual loans	22,600		28,900
Legacy
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	5,336		3,895
Non-accrual loans	25,332	[1]	28,815	[2]
Total Delinquent loans	30,668		32,710
Legacy | Real estate | Residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
Non-accrual loans	0	[1]	0	[2]
Total Delinquent loans	0		0
Legacy | Real estate | Commercial & industrial | Retail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,126		552
Non-accrual loans	2,558	[1]	4,586	[2]
Total Delinquent loans	3,684		5,138
Legacy | Real estate | Commercial & industrial | Hotel & motel
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		299
Non-accrual loans	945	[1]	2,336	[2]
Total Delinquent loans	945		2,635
Legacy | Real estate | Commercial & industrial | Gas station & car wash
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	900		0
Non-accrual loans	2,971	[1]	2,105	[2]
Total Delinquent loans	3,871		2,105
Legacy | Real estate | Commercial & industrial | Mixed use
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	434		437
Non-accrual loans	2,552	[1]	930	[2]
Total Delinquent loans	2,986		1,367
Legacy | Real estate | Commercial & industrial | Industrial & warehouse
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	113		208
Non-accrual loans	1,220	[1]	2,335	[2]
Total Delinquent loans	1,333		2,543
Legacy | Real estate | Commercial & industrial | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		979
Non-accrual loans	2,831	[1]	2,150	[2]
Total Delinquent loans	2,831		3,129
Legacy | Real estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
Non-accrual loans	0	[1]	1,521	[2]
Total Delinquent loans	0		1,521
Legacy | Commercial business
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	801		1,384
Non-accrual loans	9,431	[1]	9,640	[2]
Total Delinquent loans	10,232		11,024
Legacy | Trade finance
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,933		0
Non-accrual loans	1,954	[1]	3,194	[2]
Total Delinquent loans	3,887		3,194
Legacy | Consumer and other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	29		36
Non-accrual loans	870	[1]	18	[2]
Total Delinquent loans	899		54
Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,182	[3]	2,604	[4]
Non-accrual loans	14,349	[1],[3]	17,538	[2],[4]
Total Delinquent loans	16,531	[3]	20,142	[4]
Acquired | Real estate | Residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
Non-accrual loans	0	[1],[3]	0	[4]
Total Delinquent loans	0	[3]	0	[4]
Acquired | Real estate | Commercial & industrial | Retail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,510	[3]	1,402	[4]
Non-accrual loans	1,334	[1],[3]	2,792	[4]
Total Delinquent loans	2,844	[3]	4,194	[4]
Acquired | Real estate | Commercial & industrial | Hotel & motel
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	286	[3]	0	[4]
Non-accrual loans	5,448	[1],[3]	5,591	[4]
Total Delinquent loans	5,734	[3]	5,591	[4]
Acquired | Real estate | Commercial & industrial | Gas station & car wash
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
Non-accrual loans	695	[1],[3]	736	[4]
Total Delinquent loans	695	[3]	736	[4]
Acquired | Real estate | Commercial & industrial | Mixed use
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	47	[3]	345	[4]
Non-accrual loans	567	[1],[3]	352	[4]
Total Delinquent loans	614	[3]	697	[4]
Acquired | Real estate | Commercial & industrial | Industrial & warehouse
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	361	[4]
Non-accrual loans	1,053	[1],[3]	1,185	[4]
Total Delinquent loans	1,053	[3]	1,546	[4]
Acquired | Real estate | Commercial & industrial | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
Non-accrual loans	3,748	[1],[3]	4,370	[4]
Total Delinquent loans	3,748	[3]	4,370	[4]
Acquired | Real estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	333	[3]	0	[4]
Non-accrual loans	646	[1],[3]	0	[4]
Total Delinquent loans	979	[3]	0	[4]
Acquired | Commercial business
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	383	[4]
Non-accrual loans	0	[1],[3]	1,468	[4]
Total Delinquent loans	0	[3]	1,851	[4]
Acquired | Trade finance
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
Non-accrual loans	0	[1],[3]	0	[4]
Total Delinquent loans	0	[3]	0	[4]
Acquired | Consumer and other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	6	[3]	113	[4]
Non-accrual loans	858	[1],[3]	1,044	[4]
Total Delinquent loans	864	[3]	1,157	[4]
30 to 59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	5,010		3,889
30 to 59 Days Past Due | Legacy
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	3,457		2,083
30 to 59 Days Past Due | Legacy | Real estate | Residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
30 to 59 Days Past Due | Legacy | Real estate | Commercial & industrial | Retail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	901		201
30 to 59 Days Past Due | Legacy | Real estate | Commercial & industrial | Hotel & motel
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		299
30 to 59 Days Past Due | Legacy | Real estate | Commercial & industrial | Gas station & car wash
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
30 to 59 Days Past Due | Legacy | Real estate | Commercial & industrial | Mixed use
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		437
30 to 59 Days Past Due | Legacy | Real estate | Commercial & industrial | Industrial & warehouse
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
30 to 59 Days Past Due | Legacy | Real estate | Commercial & industrial | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		455
30 to 59 Days Past Due | Legacy | Real estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
30 to 59 Days Past Due | Legacy | Commercial business
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	594		655
30 to 59 Days Past Due | Legacy | Trade finance
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,933		0
30 to 59 Days Past Due | Legacy | Consumer and other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	29		36
30 to 59 Days Past Due | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,553	[3]	1,806	[4]
30 to 59 Days Past Due | Acquired | Real estate | Residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
30 to 59 Days Past Due | Acquired | Real estate | Commercial & industrial | Retail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,442	[3]	1,402	[4]
30 to 59 Days Past Due | Acquired | Real estate | Commercial & industrial | Hotel & motel
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
30 to 59 Days Past Due | Acquired | Real estate | Commercial & industrial | Gas station & car wash
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
30 to 59 Days Past Due | Acquired | Real estate | Commercial & industrial | Mixed use
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	345	[4]
30 to 59 Days Past Due | Acquired | Real estate | Commercial & industrial | Industrial & warehouse
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
30 to 59 Days Past Due | Acquired | Real estate | Commercial & industrial | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
30 to 59 Days Past Due | Acquired | Real estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	105	[3]	0	[4]
30 to 59 Days Past Due | Acquired | Commercial business
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	36	[4]
30 to 59 Days Past Due | Acquired | Trade finance
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
30 to 59 Days Past Due | Acquired | Consumer and other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	6	[3]	23	[4]
60 to 89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,175		2,249
60 to 89 Days Past Due | Legacy
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,546		1,812
60 to 89 Days Past Due | Legacy | Real estate | Residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
60 to 89 Days Past Due | Legacy | Real estate | Commercial & industrial | Retail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	225		351
60 to 89 Days Past Due | Legacy | Real estate | Commercial & industrial | Hotel & motel
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
60 to 89 Days Past Due | Legacy | Real estate | Commercial & industrial | Gas station & car wash
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	567		0
60 to 89 Days Past Due | Legacy | Real estate | Commercial & industrial | Mixed use
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	434		0
60 to 89 Days Past Due | Legacy | Real estate | Commercial & industrial | Industrial & warehouse
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	113		208
60 to 89 Days Past Due | Legacy | Real estate | Commercial & industrial | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		524
60 to 89 Days Past Due | Legacy | Real estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
60 to 89 Days Past Due | Legacy | Commercial business
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	207		729
60 to 89 Days Past Due | Legacy | Trade finance
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
60 to 89 Days Past Due | Legacy | Consumer and other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
60 to 89 Days Past Due | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	629	[3]	437	[4]
60 to 89 Days Past Due | Acquired | Real estate | Residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
60 to 89 Days Past Due | Acquired | Real estate | Commercial & industrial | Retail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	68	[3]	0	[4]
60 to 89 Days Past Due | Acquired | Real estate | Commercial & industrial | Hotel & motel
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	286	[3]	0	[4]
60 to 89 Days Past Due | Acquired | Real estate | Commercial & industrial | Gas station & car wash
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
60 to 89 Days Past Due | Acquired | Real estate | Commercial & industrial | Mixed use
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	47	[3]	0	[4]
60 to 89 Days Past Due | Acquired | Real estate | Commercial & industrial | Industrial & warehouse
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
60 to 89 Days Past Due | Acquired | Real estate | Commercial & industrial | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
60 to 89 Days Past Due | Acquired | Real estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	228	[3]	0	[4]
60 to 89 Days Past Due | Acquired | Commercial business
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	347	[4]
60 to 89 Days Past Due | Acquired | Trade finance
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
60 to 89 Days Past Due | Acquired | Consumer and other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	90	[4]
90 or More Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	333		361
90 or More Days Past Due | Legacy
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	333		0
90 or More Days Past Due | Legacy | Real estate | Residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
90 or More Days Past Due | Legacy | Real estate | Commercial & industrial | Retail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
90 or More Days Past Due | Legacy | Real estate | Commercial & industrial | Hotel & motel
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
90 or More Days Past Due | Legacy | Real estate | Commercial & industrial | Gas station & car wash
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	333		0
90 or More Days Past Due | Legacy | Real estate | Commercial & industrial | Mixed use
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
90 or More Days Past Due | Legacy | Real estate | Commercial & industrial | Industrial & warehouse
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
90 or More Days Past Due | Legacy | Real estate | Commercial & industrial | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
90 or More Days Past Due | Legacy | Real estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
90 or More Days Past Due | Legacy | Commercial business
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
90 or More Days Past Due | Legacy | Trade finance
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
90 or More Days Past Due | Legacy | Consumer and other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0		0
90 or More Days Past Due | Acquired
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	361	[4]
90 or More Days Past Due | Acquired | Real estate | Residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
90 or More Days Past Due | Acquired | Real estate | Commercial & industrial | Retail
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
90 or More Days Past Due | Acquired | Real estate | Commercial & industrial | Hotel & motel
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
90 or More Days Past Due | Acquired | Real estate | Commercial & industrial | Gas station & car wash
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
90 or More Days Past Due | Acquired | Real estate | Commercial & industrial | Mixed use
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
90 or More Days Past Due | Acquired | Real estate | Commercial & industrial | Industrial & warehouse
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	361	[4]
90 or More Days Past Due | Acquired | Real estate | Commercial & industrial | Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
90 or More Days Past Due | Acquired | Real estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
90 or More Days Past Due | Acquired | Commercial business
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
90 or More Days Past Due | Acquired | Trade finance
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	[3]	0	[4]
90 or More Days Past Due | Acquired | Consumer and other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 0	[3]	$ 0	[4]

[1] Nonaccrual loans exclude the guaranteed portion of delinquent SBA loans that are in liquidation totaling $22.6 million.

[2] Nonaccrual loans exclude guaranteed portion of delinquent SBA loans that are in liquidation totaling $28.9 million.

[3] The Acquired Loans exclude ACILs.

[4] The Acquired Loans exclude ACILs.

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Securities Available for Sale (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Unrealized (losses) gains on securities available for sale and interest only strips	$ (8,446)	$ 6,655	$ (3,191)	$ 17,795
Amortized Cost	876,368		876,368		$ 793,877
Gross Unrealized Gains	6,423		6,423		8,347
Gross Unrealized Losses	(7,386)		(7,386)		(5,701)
Estimated Fair Value	875,405		875,405		796,523
GSE collateralized mortgage obligations
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	363,759		363,759		304,947
Gross Unrealized Gains	1,774		1,774		1,376
Gross Unrealized Losses	(3,380)		(3,380)		(3,549)
Estimated Fair Value	362,153		362,153		302,774
GSE mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	450,974		450,974		460,487
Gross Unrealized Gains	4,211		4,211		6,528
Gross Unrealized Losses	(2,858)		(2,858)		(1,526)
Estimated Fair Value	452,327		452,327		465,489
Trust preferred securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	4,538		4,538		4,531
Gross Unrealized Gains	0		0		0
Gross Unrealized Losses	(575)		(575)		(544)
Estimated Fair Value	3,963		3,963		3,987
Municipal bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	39,672		39,672		6,487
Gross Unrealized Gains	438		438		443
Gross Unrealized Losses	(441)		(441)		0
Estimated Fair Value	39,669		39,669		6,930
Total Debt securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	858,943		858,943		776,452
Gross Unrealized Gains	6,423		6,423		8,347
Gross Unrealized Losses	(7,254)		(7,254)		(5,619)
Estimated Fair Value	858,112		858,112		779,180
Mutual funds - GSE mortgage related securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	17,425		17,425		17,425
Gross Unrealized Gains	0		0		0
Gross Unrealized Losses	(132)		(132)		(82)
Estimated Fair Value	$ 17,293		$ 17,293		$ 17,343

XML

Business Combinations - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Goodwill	$ 105,401	$ 105,401

XML

Loans Receivable and Allowance for Loan Losses - Loans Held For Investment - Reclassification to Held for Sale (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Sale or reclassification to held for sale	$ 1,323	$ 0	$ 1,773	$ 34
Commercial & industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Sale or reclassification to held for sale	$ 235	$ 0	$ 685	$ 34

XML

Fair Value Measurements - Assets Measured at Fair Value, Non-Recurring (Details) - Non-recurring basis - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Impaired loans at fair value - Real estate loans
Assets:
Assets	$ 38,705	$ 43,708
Impaired loans at fair value - Commercial business
Assets:
Assets	7,546	4,114
Impaired loans at fair value - Trade finance
Assets:
Assets	1,654	1,883
Impaired loans at fair value - Consumer
Assets:
Assets	573	596
Loans held for sale, net
Assets:
Assets	699	2,000
OREO
Assets:
Assets	3,844	17,985
Quoted Prices in Active Markets for Identical Assets (Level 1) | Impaired loans at fair value - Real estate loans
Assets:
Assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Impaired loans at fair value - Commercial business
Assets:
Assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Impaired loans at fair value - Trade finance
Assets:
Assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Impaired loans at fair value - Consumer
Assets:
Assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Loans held for sale, net
Assets:
Assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | OREO
Assets:
Assets	0	0
Significant Other Observable Inputs (Level 2) | Impaired loans at fair value - Real estate loans
Assets:
Assets	38,705	43,708
Significant Other Observable Inputs (Level 2) | Impaired loans at fair value - Commercial business
Assets:
Assets	7,546	4,114
Significant Other Observable Inputs (Level 2) | Impaired loans at fair value - Trade finance
Assets:
Assets	1,654	1,883
Significant Other Observable Inputs (Level 2) | Impaired loans at fair value - Consumer
Assets:
Assets	573	596
Significant Other Observable Inputs (Level 2) | Loans held for sale, net
Assets:
Assets	699	2,000
Significant Other Observable Inputs (Level 2) | OREO
Assets:
Assets	3,844	17,985
Significant Unobservable Inputs (Level 3) | Impaired loans at fair value - Real estate loans
Assets:
Assets	0	0
Significant Unobservable Inputs (Level 3) | Impaired loans at fair value - Commercial business
Assets:
Assets	0	0
Significant Unobservable Inputs (Level 3) | Impaired loans at fair value - Trade finance
Assets:
Assets	0	0
Significant Unobservable Inputs (Level 3) | Impaired loans at fair value - Consumer
Assets:
Assets	0	0
Significant Unobservable Inputs (Level 3) | Loans held for sale, net
Assets:
Assets	0	0
Significant Unobservable Inputs (Level 3) | OREO
Assets:
Assets	$ 0	$ 0

XML

Subordinated Debentures - Narrative (Details) - Debt Instrument, Name [Domain] - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Subordinated Borrowing [Line Items]
Right to defer consecutive payments of interest, maximum term	5 years
Other assets
Subordinated Borrowing [Line Items]
Investment in common trust securities	$ 1,500,000	$ 1,600,000
Trust Preferred Securities Subject to Mandatory Redemption
Subordinated Borrowing [Line Items]
Trust Preferred Security Amount	$ 46,000,000
Percent included in tier one capital, maximum	25.00%
Excess of percent threshold included in tier two capital	25.00%

XML

Loans Receivable and Allowance for Loan Losses - Accretable Yield Movement Schedule on Acquired Credit Impaired Loans in Center Merger (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Balance at beginning of period	$ 22,645	$ 32,583	$ 24,051	$ 47,398
Accretion	(3,096)	(4,197)	(6,232)	(9,064)
Changes in expected cash flows	1,840	(102)	3,570	(10,050)
Balance at end of period	$ 21,389	$ 28,284	$ 21,389	$ 28,284

XML

Basis of Presentation

6 Months Ended

Jun. 30, 2015

Basis Of Presentation [Abstract]

Basis of Presentation

Basis of Presentation

The condensed consolidated financial statements included herein have been prepared without an audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”), except for the Condensed Consolidated Statement of Financial Condition as of December 31, 2014 which was derived from audited financial statements included in the Company's 2014 Annual Report on Form 10-K. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such SEC rules and regulations.

The condensed consolidated financial statements include the accounts of BBCN Bancorp and its wholly-owned subsidiaries, principally BBCN Bank. All intercompany transactions and balances have been eliminated in consolidation. The Company has made all adjustments, consisting solely of normal recurring accruals, that in the opinion of management, are necessary to fairly present the Company's financial position at June 30, 2015 and the results of operations for the three and six months then ended. Certain reclassifications have been made to prior period amounts to conform to the current year presentation. The results of operations for the interim periods are not necessarily indicative of results to be anticipated for the full year.

The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are susceptible to change in the near term relate to the determination of the allowance and provision for loan losses, the evaluation of other than temporary impairment of investment securities, accounting for derivatives and hedging activities, the determination of the carrying value for cash surrender value of life insurance, the determination of the carrying value of goodwill and other intangible assets, accounting for deferred tax assets and related valuation allowances, the determination of the fair values of investment securities and other financial instruments, accounting for lease arrangements, accounting for incentive compensation, profit sharing and bonus payments, and the valuation of servicing assets.

These unaudited condensed consolidated financial statements should be read along with the audited consolidated financial statements and accompanying notes included in the Company's 2014 Annual Report on Form 10-K.

Recent Accounting Pronouncements:

FASB ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). This update to the ASC is the culmination of efforts by the FASB and the International Accounting Standards Board (IASB) to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards (IFRS). The core principal of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance in ASU 2014-09 describes a 5-step process entities can apply to achieve the core principle of revenue recognition and requires disclosures sufficient to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers and the significant judgments used in determining that information. The amendments in ASU 2014-9 are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period and early application is not allowed. The adoption of ASU 2014-9 is not expected to have a significant impact on the Company's financial statements.

FASB ASU No. 2015-10, Technical Corrections and Improvements. The amendments in ASU 2015-10 represent changes to clarify the Codification, correct unintended application of guidance, or make minor improvements to the Codification that are not expected to have significant effect on current accounting practice or create a significant administrative cost to most entities. The amendments that require transition guidance are effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2015. The adoption of ASU 2015-10 is not expected to have a significant impact on the Company's financial statements.

XML

Intangible Assets - Intangible Assets (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 105,401,000		$ 105,401,000		$ 105,401,000
Goodwill impairment	0	$ 0	0	$ 0
Gross Carrying Amount	7,466,000		7,466,000
Accumulated Amortization	(4,112,000)		(4,112,000)
Core Deposits
Finite-Lived Intangible Assets [Line Items]
Amortization expense related to core deposit intangible qssets	(267,000)	$ (324,000)	$ 534,000	$ 648,000
Center Financial Corporation | Core Deposits
Finite-Lived Intangible Assets [Line Items]
Amortization period			7 years
Gross Carrying Amount	4,100,000		$ 4,100,000
Accumulated Amortization	(2,971,000)		$ (2,971,000)
Pacific International Bancorp, Inc. | Core Deposits
Finite-Lived Intangible Assets [Line Items]
Amortization period			7 years
Gross Carrying Amount	603,000		$ 603,000
Accumulated Amortization	(324,000)		$ (324,000)
Foster Bankshares Inc | Core Deposits
Finite-Lived Intangible Assets [Line Items]
Amortization period			10 years
Gross Carrying Amount	2,763,000		$ 2,763,000
Accumulated Amortization	$ (817,000)		$ (817,000)
Minimum | Core Deposits
Finite-Lived Intangible Assets [Line Items]
Amortization period			7 years
Maximum | Core Deposits
Finite-Lived Intangible Assets [Line Items]
Amortization period			10 years

XML

Securities Available for Sale - Proceeds, Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Available-for-sale Securities [Abstract]
Unrealized (losses) gains on securities available for sale and interest only strips	$ (8,446)	$ 6,655	$ (3,191)	$ 17,795
Reclassification adjustments for gains realized in income	0	0	(424)	0
Proceeds	0	0	22,510	0
Gross gains	0	0	424	0
Gross losses	$ 0	$ 0	$ 0	$ 0

XML

Borrowings (Tables)

6 Months Ended

Jun. 30, 2015

Debt Disclosure [Abstract]

Contractual Maturities for FHLB-SF Borrowings

At June 30, 2015, the contractual maturities for FHLB advances were as follows:

	Contractual Maturities		Maturity/ Put Date
	(In thousands)
Due within one year	$	165,000	$	185,785
Due after one year through five years	415,785		395,000
	$	580,785	$	580,785

XML

Loans Receivable and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2015

Receivables [Abstract]

Summary of Loans Receivable by Major Category

The following is a summary of loans receivable by major category:

	June 30, 2015			December 31, 2014
	(In thousands)
Loan portfolio composition
Real estate loans:
Residential	$	36,706		$	21,415
Commercial & industrial	4,503,794			4,324,349
Construction	104,901			94,086
Total real estate loans	4,645,401			4,439,850
Commercial business	970,787			903,621
Trade finance	114,927			134,762
Consumer and other	87,707			89,849
Total loans outstanding	5,818,822			5,568,082
Less: deferred loan fees	(2,998		)	(2,890		)
Loans receivable	5,815,824			5,565,192
Less: allowance for loan losses	(70,118		)	(67,758		)
Loans receivable, net of allowance for loan losses	$	5,745,706		$	5,497,434

Loans and Leases Acquired, Accretable Yield Movement Schedule

The following table presents changes in the accretable discount on the ACILs for the three and six months ended June 30, 2015 and 2014:

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(In thousands)
Balance at beginning of period	$	22,645		$	32,583		$	24,051		$	47,398
Accretion	(3,096		)	(4,197		)	(6,232		)	(9,064		)
Changes in expected cash flows	1,840			(102		)	3,570			(10,050		)
Balance at end of period	$	21,389		$	28,284		$	21,389		$	28,284

Allowance for Loan Losses by Portfolio Segment

The following tables detail the activity in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2015 and 2014:

	Legacy												Acquired											Total
	Real Estate			Commercial Business			Trade Finance			Consumer and Other			Real Estate			Commercial Business			Trade Finance		Consumer and Other
	(In thousands)
Three Months Ended June 30, 2015
Balance, beginning of period	$	35,772		$	16,168		$	3,041		$	416		$	13,724		$	422		$	—	$	51		$	69,594
Provision (credit) for loan losses	1,224			(751		)	(522		)	521			280			240			—		8			1,000
Loans charged off	(61		)	(448		)	(759		)	—			(13		)	(170		)	—		—			(1,451		)
Recoveries of charge offs	61			809			—			92			—			8			—		5			975
Balance, end of period	$	36,996		$	15,778		$	1,760		$	1,029		$	13,991		$	500		$	—	$	64		$	70,118
Six Months Ended June 30, 2015
Balance, beginning of period	$	38,775		$	15,986		$	3,456		$	427		$	8,573		$	485		$	—	$	56		$	67,758
Provision (credit) for loan losses	(2,398		)	(773		)	(709		)	523			5,590			262			—		5			2,500
Loans charged off	(242		)	(899		)	(987		)	(15		)	(172		)	(257		)	—		(4		)	(2,576		)
Recoveries of charge offs	861			1,464			—			94			0			10			—		7			2,436
Balance, end of period	$	36,996		$	15,778		$	1,760		$	1,029		$	13,991		$	500		$	—	$	64		$	70,118

	Legacy												Acquired											Total
	Real Estate			Commercial Business			Trade Finance			Consumer and Other			Real Estate			Commercial Business			Trade Finance		Consumer and Other
	(In thousands)
Three Months Ended June 30, 2014
Balance, beginning of period	$	38,586		$	16,208		$	2,944		$	467		$	6,838		$	593		$	—	$	63		$	65,699
Provision (credit) for loan losses	1,066			(336		)	1,624			(69		)	622			88			—		1			2,996
Loans charged off	(726		)	(1,794		)	—			(18		)	(188		)	(45		)	—		—			(2,771		)
Recoveries of charge offs	132			581			—			211			17			3			—		2			946
Balance, end of period	$	39,058		$	14,659		$	4,568		$	591		$	7,289		$	639		$	—	$	66		$	66,870
Six Months Ended June 30, 2014
Balance, beginning of period	$	40,068		$	16,796		$	2,653		$	461		$	6,482		$	796		$	—	$	64		$	67,320
Provision (credit) for loan losses	(348		)	2,211			1,972			(62		)	1,073			1,099			—		77			6,022
Loans charged off	(813		)	(5,519		)	(57		)	(19		)	(283		)	(1,265		)	—		(78		)	(8,034		)
Recoveries of charge offs	151			1,171			—			211			17			9			—		3			1,562
Balance, end of period	$	39,058		$	14,659		$	4,568		$	591		$	7,289		$	639		$	—	$	66		$	66,870

The following tables disaggregate the allowance for loan losses and the loans outstanding by impairment methodology at June 30, 2015 and December 31, 2014:

	June 30, 2015
	Legacy								Acquired								Total
	Real Estate		Commercial Business		Trade Finance		Consumer and Other		Real Estate		Commercial Business		Trade Finance		Consumer and Other
	(In thousands)
Allowance for loan losses:
Individually evaluated for impairment	$	1,783	$	4,383	$	320	$	615	$	591	$	373	$	—	$	—	$	8,065
Collectively evaluated for impairment	35,213		11,395		1,440		414		753		127		—		64		49,406
ACILs	—		—		—		—		12,647		—		—		—		12,647
Total	$	36,996	$	15,778	$	1,760	$	1,029	$	13,991	$	500	$	—	$	64	$	70,118
Loans outstanding:
Individually evaluated for impairment	$	54,022	$	36,403	$	6,670	$	1,067	$	18,323	$	1,641	$	—	$	572	$	118,698
Collectively evaluated for impairment	4,171,701		875,857		108,257		41,031		313,877		30,425		—		23,323		5,564,471
ACILs	—		—		—		—		87,478		26,461		—		21,714		135,653
Total	$	4,225,723	$	912,260	$	114,927	$	42,098	$	419,678	$	58,527	$	—	$	45,609	$	5,818,822

	December 31, 2014
	Legacy								Acquired								Total
	Real Estate		Commercial Business		Trade Finance		Consumer and Other		Real Estate		Commercial Business		Trade Finance		Consumer and Other
	(In thousands)
Allowance for loan losses:
Individually evaluated for impairment	$	1,940	$	6,929	$	1,312	$	—	$	434	$	307	$	—	$	—	$	10,922
Collectively evaluated for impairment	36,835		9,057		2,144		427		792		178		—		56		49,489
ACILs	—		—		—		—		7,347		—		—		—		7,347
Total	$	38,775	$	15,986	$	3,456	$	427	$	8,573	$	485	$	—	$	56	$	67,758
Loans outstanding:
Individually evaluated for impairment	$	57,506	$	40,829	$	5,936	$	465	$	20,035	$	1,778	$	—	$	596	$	127,145
Collectively evaluated for impairment	3,864,289		784,407		128,826		37,312		397,147		43,460		—		25,859		5,281,300
ACILs	—		—		—		—		100,873		33,147		—		25,617		159,637
Total	$	3,921,795	$	825,236	$	134,762	$	37,777	$	518,055	$	78,385	$	—	$	52,072	$	5,568,082

Impaired Financing Receivables

The following tables detail impaired loans (Legacy and APLs that became impaired subsequent to being acquired) as of June 30, 2015 and December 31, 2014 and for the three and six months ended June 30, 2015 and 2014 and for the year ended December 31, 2014. Loans with no related allowance for loan losses are believed by management to have adequate collateral securing their carrying value.

	As of June 30, 2015						For the Six Months Ended June 30, 2015				For the Three Months Ended June 30, 2015
Total Impaired Loans	Recorded Investment*		Unpaid Contractual Principal Balance		Related Allowance		Average Recorded Investment*		Interest Income Recognized during Impairment		Average Recorded Investment*		Interest Income Recognized during Impairment
	(In thousands)
With related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	4,419		4,615		243		4,411		88		4,165		44
Hotel & motel	11,416		11,422		326		12,134		258		11,500		129
Gas station & car wash	1,719		1,928		341		1,479		29		1,266		15
Mixed use	481		497		9		481				481
Industrial & warehouse	4,434		4,434		12		4,489		84		5,678		42
Other	8,779		9,665		1,443		8,823		176		8,344		88
Real estate—construction	—		—		—		—		—		—		—
Commercial business	29,648		29,961		4,756		32,453		579		30,030		286
Trade finance	5,016		5,016		320		4,678		108		4,990		54
Consumer and other	615		615		615		209		—		314		—
	$	66,527	$	68,153	$	8,065	$	69,157	$	1,322	$	66,768	$	658
With no related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	9,197		10,932		—		10,260		167		9,536		84
Hotel & motel	6,522		8,600		—		6,122		7		6,187		3
Gas station & car wash	3,682		6,205		—		3,391		22		3,739		11
Mixed use	3,482		3,876		—		2,356		21		2,740		10
Industrial & warehouse	9,264		12,932		—		11,033		154		9,362		77
Other	8,950		10,675		—		8,730		77		9,554		40
Real estate—construction	—		—		—		1,000		—		740		—
Commercial business	8,395		10,562		—		8,104		81		9,502		41
Trade finance	1,654		5,000		—		1,643		—		1,524		—
Consumer and other	1,025		1,094		—		1,064		13		1,066		7
	$	52,171	$	69,876	$	—	$	53,703	$	542	$	53,950	$	273
Total	$	118,698	$	138,029	$	8,065	$	122,860	$	1,864	$	120,718	$	931

* Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

	For the Six Months Ended June 30, 2014				For the Three Months Ended June 30, 2014
Total Impaired Loans	Average Recorded Investment*		Interest Income Recognized during Impairment		Average Recorded Investment*		Interest Income Recognized during Impairment
	(In thousands)
With related allowance:
Real estate—residential	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	5,238		46		4,198		27
Hotel & motel	11,771		266		11,696		133
Gas station & car wash	2,774		38		2,589		19
Mixed use	1,049		20		1,109		10
Industrial & warehouse	9,104		151		7,456		76
Other	9,353		166		8,898		82
Real estate—construction	—		—		—		—
Commercial business	30,875		594		28,981		310
Trade finance	6,526		99		6,990		51
Consumer and other	178		—		—		—
	$	76,868	$	1,380	$	71,917	$	708
With no related allowance:
Real estate—residential	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	6,875		124		8,300		62
Hotel & motel	6,480		—		6,468		—
Gas station & car wash	4,820		—		4,808		—
Mixed use	1,143		—		1,292		—
Industrial & warehouse	7,528		160		9,389		83
Other	4,401		56		5,828		30
Real estate—construction	1,606		42		1,596		21
Commercial business	9,345		138		11,296		75
Trade finance	453		—		634		—
Consumer and other	1,234		15		1,468		8
	$	43,885	$	535	$	51,079	$	279
Total	$	120,753	$	1,915	$	122,996	$	987

* Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

	As of June 30, 2015						For the Six Months Ended June 30, 2015				For the Three Months Ended June 30, 2015
Impaired APLs	Recorded Investment*		Unpaid Contractual Principal Balance		Related Allowance		Average Recorded Investment*		Interest Income Recognized during Impairment		Average Recorded Investment*		Interest Income Recognized during Impairment
	(In thousands)
With related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	2,579		2,568		185		2,278		74		2,591		37
Hotel & motel	—		—		—		—		—		—		—
Gas station & car wash	1,719		1,928		341		1,398		29		1,215		15
Mixed use	352		348		2		352		—		352		—
Industrial & warehouse	—		—		—		120		—		180		—
Other	1,288		1,575		62		1,123		8		803		4
Real estate—construction	—		—		—		—		—		—		—
Commercial business	736		884		373		721		9		697		4
Trade finance	—		—		—		—		—		—		—
Consumer and other	—		—		—		1		—		1		—
	$	6,674	$	7,303	$	963	$	5,993	$	120	$	5,839	$	60
With no related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	1,370		1,479		—		2,037		7		1,476		3
Hotel & motel	5,730		7,779		—		5,613		7		5,624		3
Gas station & car wash	—		—		—		347		—		516		—
Mixed use	279		444		—		167		2		251		1
Industrial & warehouse	1,125		1,221		—		1,362		2		1,174		1
Other	3,881		4,906		—		4,287		21		4,426		10
Real estate—construction	—		—		—		—		—		—		—
Commercial business	904		1,664		—		982		33		968		17
Trade finance	—		—		—		—		—		—		—
Consumer and other	573		642		—		606		4		611		2
	$	13,862	$	18,135	$	—	$	15,401	$	76	$	15,046	$	37
Total	$	20,536	$	25,438	$	963	$	21,394	$	196	$	20,885	$	97

* Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

	For the Six Months Ended June 30, 2014				For the Three Months Ended June 30, 2014
Impaired APLs	Average Recorded Investment*		Interest Income Recognized during Impairment		Average Recorded Investment*		Interest Income Recognized during Impairment
	(In thousands)
With related allowance:
Real estate—residential	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	264		—		201		—
Hotel & motel	—		—		—		—
Gas station & car wash	1,791		30		2,289		15
Mixed use	118		—		177		—
Industrial & warehouse	1,709		—		—		—
Other	1,054		4		899		2
Real estate—construction	—		—		—		—
Commercial business	1,240		4		868		3
Trade finance	—		—		—		—
Consumer and other	—		—		—		—
	$	6,176	$	38	$	4,434	$	20
With no related allowance:
Real estate—residential	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	1,549		15		1,702		7
Hotel & motel	6,379		—		6,347		—
Gas station & car wash	1,029		—		736		—
Mixed use	307		—		460		—
Industrial & warehouse	3,281		5		3,981		2
Other	3,396		20		4,526		12
Real estate—construction	—		—		—		—
Commercial business	1,505		10		1,853		7
Trade finance	—		—		—		—
Consumer and other	887		4		947		2
	$	18,333	$	54	$	20,552	$	30
Total	$	24,509	$	92	$	24,986	$	50

* Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

	As of December 31, 2014						For the Year Ended December 31, 2014
Total Impaired Loans	Recorded Investment*		Unpaid Contractual Principal Balance		Related Allowance		Average Recorded Investment*		Interest Income Recognized during Impairment
	(In thousands)
With related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	4,902		5,288		390		5,205		127
Hotel & motel	13,401		14,548		469		12,053		532
Gas station & car wash	1,904		3,507		379		2,440		60
Mixed use	482		497		13		823		—
Industrial & warehouse	2,111		2,126		13		7,309		119
Other	9,781		10,389		1,110		9,709		355
Real estate—construction	—		—		—		—		—
Commercial business	37,300		38,730		7,236		32,798		1,502
Trade finance	4,053		11,310		1,312		6,647		—
Consumer and other	—		—		—		114		—
	$	73,934	$	86,395	$	10,922	$	77,098	$	2,695
With no related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	11,708		13,492		—		8,462		358
Hotel & motel	5,992		8,728		—		6,655		—
Gas station & car wash	2,693		4,065		—		4,139		44
Mixed use	1,589		1,697		—		1,415		39
Industrial & warehouse	14,374		17,940		—		9,311		494
Other	7,083		9,886		—		5,118		93
Real estate—construction	1,521		1,545		—		1,583		—
Commercial business	5,307		6,880		—		8,349		50
Trade finance	1,883		5,000		—		724		—
Consumer and other	1,061		1,118		—		1,168		28
	$	53,211	$	70,351	$	—	$	46,924	$	1,106
Total	$	127,145	$	156,746	$	10,922	$	124,022	$	3,801

* Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

	As of December 31, 2014						For the Year Ended December 31, 2014
Impaired APLs	Recorded Investment*		Unpaid Contractual Principal Balance		Related Allowance		Average Recorded Investment*		Interest Income Recognized during Impairment
	(In thousands)
With related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	1,653		1,638		36		838		97
Hotel & motel	—		—		—		—		—
Gas station & car wash	1,762		1,953		379		1,783		60
Mixed use	352		348		2		212		—
Industrial & warehouse	—		—		—		1,026		—
Other	1,763		2,016		17		1,134		5
Real estate—construction	—		—		—		—		—
Commercial business	769		928		307		1,090		15
Trade finance	—		—		—		—		—
Consumer and other	—		—		—		—		—
	$	6,299	$	6,883	$	741	$	6,083	$	177
With no related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	3,158		3,376		—		1,869		27
Hotel & motel	5,591		7,493		—		6,067		—
Gas station & car wash	9		297		—		621		—
Mixed use	—		—		—		275		—
Industrial & warehouse	1,737		1,954		—		2,673		39
Other	4,009		5,174		—		3,798		41
Real estate—construction	—		—		—		—		—
Commercial business	1,009		1,758		—		1,321		4
Trade finance	—		—		—		—		—
Consumer and other	596		652		—		772		8
	$	16,109	$	20,704	$	—	$	17,396	$	119
Total	$	22,408	$	27,587	$	741	$	23,479	$	296

* Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

The recorded investment in individually impaired loans was as follows:

	June 30, 2015			December 31, 2014
	(In thousands)
With allocated allowance
Without charge off	$	65,343		$	67,352
With charge off	1,184			6,582
With no allocated allowance
Without charge off	48,001			46,885
With charge off	4,170			6,326
Allowance on impaired loans	(8,065		)	(10,922		)
Impaired loans, net of allowance	$	110,633		$	116,223

Aging of Past Due Loans

The following tables present the aging of past due loans as of June 30, 2015 and December 31, 2014 by class of loans:

	As of June 30, 2015
	Past Due and Accruing
	30-59 Days Past Due		60-89 Days Past Due		90 or More Days Past Due		Total		Nonaccrual Loans (2)		Total Delinquent Loans
	(In thousands)
Legacy Loans:
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	901		225		—		1,126		2,558		3,684
Hotel & motel	—		—		—		—		945		945
Gas station & car wash	—		567		333		900		2,971		3,871
Mixed use	—		434		—		434		2,552		2,986
Industrial & warehouse	—		113		—		113		1,220		1,333
Other	—		—		—		—		2,831		2,831
Real estate—construction	—		—		—		—		—		—
Commercial business	594		207		—		801		9,431		10,232
Trade finance	1,933		—		—		1,933		1,954		3,887
Consumer and other	29		—		—		29		870		899
Subtotal	$	3,457	$	1,546	$	333	$	5,336	$	25,332	$	30,668
Acquired Loans: (1)
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	1,442		68		—		1,510		1,334		2,844
Hotel & motel	—		286		—		286		5,448		5,734
Gas station & car wash	—		—		—		—		695		695
Mixed use	—		47		—		47		567		614
Industrial & warehouse	—		—		—		—		1,053		1,053
Other	—		—		—		—		3,748		3,748
Real estate—construction	105		228		—		333		646		979
Commercial business	—		—		—		—		—		—
Trade finance	—		—		—		—		—		—
Consumer and other	6		—		—		6		858		864
Subtotal	$	1,553	$	629	$	—	$	2,182	$	14,349	$	16,531
TOTAL	$	5,010	$	2,175	$	333	$	7,518	$	39,681	$	47,199

⁽¹⁾  The Acquired Loans exclude ACILs.

⁽²⁾  Nonaccrual loans exclude the guaranteed portion of delinquent SBA loans that are in liquidation totaling $22.6 million.

	As of December 31, 2014
	Past Due and Accruing
	30-59 Days Past Due		60-89 Days Past Due		90 or More Days Past Due		Total		Nonaccrual Loans (2)		Total Delinquent Loans
	(In Thousands)
Legacy Loans:
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	201		351		—		552		4,586		5,138
Hotel & motel	299		—		—		299		2,336		2,635
Gas station & car wash	—		—		—		—		2,105		2,105
Mixed use	437		—		—		437		930		1,367
Industrial & warehouse	—		208		—		208		2,335		2,543
Other	455		524		—		979		2,150		3,129
Real estate—construction	—		—		—		—		1,521		1,521
Commercial business	655		729		—		1,384		9,640		11,024
Trade finance	—		—		—		—		3,194		3,194
Consumer and other	36		—		—		36		18		54
Subtotal	$	2,083	$	1,812	$	—	$	3,895	$	28,815	$	32,710
Acquired Loans: (1)
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	1,402		—		—		1,402		2,792		4,194
Hotel & motel	—		—		—		—		5,591		5,591
Gas station & car wash	—		—		—		—		736		736
Mixed use	345		—		—		345		352		697
Industrial & warehouse	—		—		361		361		1,185		1,546
Other	—		—		—		—		4,370		4,370
Real estate—construction	—		—		—		—		—		—
Commercial business	36		347		—		383		1,468		1,851
Trade finance	—		—		—		—		—		—
Consumer and other	23		90		—		113		1,044		1,157
Subtotal	$	1,806	$	437	$	361	$	2,604	$	17,538	$	20,142
TOTAL	$	3,889	$	2,249	$	361	$	6,499	$	46,353	$	52,852

⁽¹⁾  The Acquired Loans exclude ACILs.

⁽²⁾  Nonaccrual loans exclude guaranteed portion of delinquent SBA loans that are in liquidation totaling $28.9 million.

Risk Category of Loans by Class of Loans

The following tables present the risk rating for Legacy Loans and Acquired Loans as of June 30, 2015 and December 31, 2014 by class of loans:

	As of June 30, 2015
	Pass		Special Mention		Substandard		Doubtful/Loss		Total
	(In thousands)
Legacy Loans:
Real estate—residential	$	35,985	$	—	$	—	$	—	$	35,985
Real estate—commercial
Retail	975,319		23,326		14,022		—		1,012,667
Hotel & motel	889,763		113		6,929		—		896,805
Gas station & car wash	573,688		8,814		4,865		—		587,367
Mixed use	303,047		787		3,430		—		307,264
Industrial & warehouse	422,067		8,508		9,577		—		440,152
Other	796,285		29,621		14,676		—		840,582
Real estate—construction	104,901		—		—		—		104,901
Commercial business	853,739		20,092		38,219		210		912,260
Trade finance	93,430		11,458		10,039		—		114,927
Consumer and other	40,765		6		1,317		10		42,098
Subtotal	$	5,088,989	$	102,725	$	103,074	$	220	$	5,295,008
Acquired Loans:
Real estate—residential	$	436	$	285	$	—	$	—	$	721
Real estate—commercial
Retail	141,896		3,617		17,990		—		163,503
Hotel & motel	37,499		6,214		13,112		—		56,825
Gas station & car wash	25,251		381		7,089		—		32,721
Mixed use	18,681		11,626		2,825		—		33,132
Industrial & warehouse	45,691		1,237		10,694		—		57,622
Other	61,192		529		13,016		417		75,154
Real estate—construction	—		—		—		—		—
Commercial business	38,317		1,547		18,142		521		58,527
Trade finance	—		—		—		—		—
Consumer and other	35,686		1,634		7,394		895		45,609
Subtotal	$	404,649	$	27,070	$	90,262	$	1,833	$	523,814
Total	$	5,493,638	$	129,795	$	193,336	$	2,053	$	5,818,822

	As of December 31, 2014
	Pass		Special Mention		Substandard		Doubtful/Loss		Total
	(In thousands)
Legacy Loans:
Real estate—residential	$	20,586	$	—	$	—	$	—	$	20,586
Real estate—commercial
Retail	1,015,195		20,177		14,805		—		1,050,177
Hotel & motel	784,586		114		7,746		—		792,446
Gas station & car wash	553,901		—		8,857		—		562,758
Mixed use	288,409		1,147		2,187		—		291,743
Industrial & warehouse	347,805		9,181		12,313		—		369,299
Other	699,644		28,044		13,013		—		740,701
Real estate—construction	92,564		—		1,521		—		94,085
Commercial business	765,280		18,792		41,138		26		825,236
Trade finance	103,844		18,599		12,319		—		134,762
Consumer and other	37,256		38		470		13		37,777
Subtotal	$	4,709,070	$	96,092	$	114,369	$	39	$	4,919,570
Acquired Loans:
Real estate—residential	$	539	$	290	$	—	$	—	$	829
Real estate—commercial
Retail	157,485		3,531		25,469		—		186,485
Hotel & motel	69,236		3,889		9,241		—		82,366
Gas station & car wash	27,936		369		8,542		268		37,115
Mixed use	25,843		7,001		3,048		—		35,892
Industrial & warehouse	66,214		667		14,177		—		81,058
Other	76,956		2,076		15,242		36		94,310
Real estate—construction	—		—		—		—		—
Commercial business	48,270		6,331		22,721		1,063		78,385
Trade finance	—		—		—		—		—
Consumer and other	40,136		2,089		9,066		781		52,072
Subtotal	$	512,615	$	26,243	$	107,506	$	2,148	$	648,512
Total	$	5,221,685	$	122,335	$	221,875	$	2,187	$	5,568,082

Loans Sold From Loans Held For Investment

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Reclassification to held for sale	(In thousands)
Real estate - Commercial	$	235	$	—	$	685	$	34
Consumer	1,088		—		1,088		—
Total	$	1,323	$	—	$	1,773	$	34

Allowance for Loan Losses and Impaired Loans, Qualitative and Quantitative Analysis

The following table presents loans by portfolio segment and impairment method at June 30, 2015 and December 31, 2014:

	As of June 30, 2015
	Real Estate— Residential			Real Estate— Commercial			Real Estate— Construction			Commercial Business			Trade Finance			Consumer and Other			Total
	(In thousands)
Impaired loans (gross carrying value)	$	—		$	72,345		$	—		$	38,044		$	6,670		$	1,639		$	118,698
Specific allowance	$	—		$	2,374		$	—		$	4,756		$	320		$	615		$	8,065
Loss coverage ratio	N/A			3.3		%	N/A			12.5		%	4.8		%	37.5		%	6.8		%
Non-impaired loans	$	36,706		$	4,431,449		$	104,901		$	932,743		$	108,257		$	86,068		$	5,700,124
General allowance	$	247		$	47,773		$	593		$	11,522		$	1,440		$	478		$	62,053
Loss coverage ratio	0.7		%	1.1		%	0.6		%	1.2		%	1.3		%	0.6		%	1.1		%
Total loans	$	36,706		$	4,503,794		$	104,901		$	970,787		$	114,927		$	87,707		$	5,818,822
Total allowance for loan losses	$	247		$	50,147		$	593		$	16,278		$	1,760		$	1,093		$	70,118
Loss coverage ratio	0.7		%	1.1		%	0.6		%	1.7		%	1.5		%	1.2		%	1.2		%

	As of December 31, 2014
	Real Estate— Residential			Real Estate— Commercial			Real Estate— Construction			Commercial Business			Trade Finance			Consumer and Other			Total
	(In thousands)
Impaired loans (gross carrying value)	$	—		$	76,020		$	1,521		$	42,607		$	5,936		$	1,061		$	127,145
Specific allowance	$	—		$	2,374		$	—		$	7,236		$	1,312		$	—		$	10,922
Loss coverage ratio	N/A			3.1		%	0.0		%	17.0		%	22.1		%	0.0		%	8.6		%
Non-impaired loans	$	21,415		$	4,248,329		$	92,565		$	861,014		$	128,826		$	88,788		$	5,440,937
General allowance	$	146		$	44,161		$	667		$	9,235		$	2,144		$	483		$	56,836
Loss coverage ratio	0.7		%	1.0		%	0.7		%	1.1		%	1.7		%	0.5		%	1.0		%
Total loans	$	21,415		$	4,324,349		$	94,086		$	903,621		$	134,762		$	89,849		$	5,568,082
Total allowance for loan losses	$	146		$	46,535		$	667		$	16,471		$	3,456		$	483		$	67,758
Loss coverage ratio	0.7		%	1.1		%	0.7		%	1.8		%	2.6		%	0.5		%	1.2		%

Troubled Debt Restructurings

A summary of TDRs on accrual and nonaccrual status by type of concession as of June 30, 2015 and December 31, 2014 is presented below:

	As of June 30, 2015
	TDRs on Accrual								TDRs on Nonaccrual								Total
	Real Estate— Commercial		Commercial Business		Other		Total		Real Estate— Commercial		Commercial Business		Other		Total
	(In thousands)
Payment concession	$	11,885	$	465	$	—	$	12,350	$	3,888	$	4,454	$	—	$	8,342	$	20,692
Maturity / Amortization concession	3,568		18,766		4,066		26,400		1,250		545		232		2,027		28,427
Rate concession	13,441		5,202		—		18,643		7,423		39		171		7,633		26,276
Principal forgiveness	—		—		—		—		—		11		—		11		11
	$	28,894	$	24,433	$	4,066	$	57,393	$	12,561	$	5,049	$	403	$	18,013	$	75,406

	As of December 31, 2014
	TDRs on Accrual								TDRs on Nonaccrual								Total
	Real Estate— Commercial		Commercial Business		Other		Total		Real Estate— Commercial		Commercial Business		Other		Total
	(In thousands)
Payment concession	$	12,235	$	556	$	—	$	12,791	$	3,840	$	517	$	—	$	4,357	$	17,148
Maturity / Amortization concession	2,189		20,053		3,387		25,629		1,207		3,158		1,550		5,915		31,544
Rate concession	13,684		5,024		—		18,708		8,473		80		176		8,729		27,437
Principal forgiveness	—		—		—		—		—		15		—		15		15
	$	28,108	$	25,633	$	3,387	$	57,128	$	13,520	$	3,770	$	1,726	$	19,016	$	76,144

The following table presents loans by class modified as TDRs that occurred during the three and six months ended June 30, 2015:

	Three Months Ended June 30, 2015					Six Months Ended June 30, 2015
	Number of Loans	Pre- Modification		Post- Modification		Number of Loans	Pre- Modification		Post- Modification
	(Dollars in thousands)
Legacy Loans:
Real estate—commercial
Retail	1	$	255	$	253	1	$	255	$	253
Hotel & motel	—	—		—		—	—		—
Gas station & car wash	—	—		—		1	142		131
Mixed use	—	—		—		—	—		—
Industrial & warehouse	—	—		—		—	—		—
Other	—	—		—		2	1,762		1,734
Real estate - construction	—	—		—		—	—		—
Commercial business	8	4,620		4,443		10	4,711		4,486
Trade finance	—	—		—		—	—		—
Consumer and other	—	—		—		—	—		—
Subtotal	9	$	4,875	$	4,696	14	$	6,870	$	6,604
Acquired Loans:
Real estate—commercial
Retail	—	$	—	$	—	—	$	—	$	—
Hotel & motel	—	—		—		—	—		—
Gas station & car wash	—	—		—		—	—		—
Mixed use	1	64		64		1	64		64
Industrial & warehouse	—	—		—		—	—		—
Other	—	—		—		—	—		—
Real estate—construction	—	—		—		—	—		—
Commercial business	—	—		—		—	—		—
Trade finance	—	—		—		—	—		—
Consumer and other	—	—		—		—	—		—
Subtotal	1	$	64	$	64	1	$	64	$	64
Total	10	$	4,939	$	4,760	15	$	6,934	$	6,668

Summary of Troubled Debt Restructurings with Subsequent Payment Default

The following table presents loans by class for TDRs that have been modified within the previous twelve months and have subsequently had a payment default during the three and six months ended June 30, 2015:

	Three Months Ended June 30, 2015			Six Months Ended June 30, 2015
	Number of Loans	Balance		Number of Loans	Balance
	(Dollars In thousands)
Legacy Loans:
Real estate—commercial
Retail	—	$	—	—	$	—
Gas station & car wash	1	131		1	131
Industrial & warehouse	1	21		1	21
Other	1	325		1	325
Commercial business	8	4,047		8	4,047
Subtotal	11	$	4,524	11	$	4,524
Acquired Loans:
Real estate—commercial
Retail	—	$	—	—	$	—
Gas station & car wash	—	—		—	—
Hotel & motel	—	—		—	—
Industrial & warehouse	—	—		—	—
Other	—	—		—	—
Commercial business	1	31		1	31
Subtotal	1	$	31	1	$	31
	12	$	4,555	12	$	4,555

Covered Non-performing Assets

The covered nonperforming assets at June 30, 2015 and December 31, 2014 were as follows:

	June 30, 2015		December 31, 2014
	(In thousands)
Covered loans on nonaccrual status	$	1,172	$	1,355
Covered OREO	956		96
Total covered nonperforming assets	$	2,128	$	1,451
Acquired covered loans	$	27,259	$	32,560

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Loans Receivable and Allowance for Loan Losses - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Receivables [Abstract]
Commitment to lend	$ 1,427		$ 1,427		$ 1,573
Recognized provision for credit losses related to unfunded commitments	$ 95	$ 547	$ (146)	$ 588
Positive or Negative Qualitative Adjustment of the Loss Migration Ratio or Individual Specific Reserve Allocations, In Basis Points	0.50%		0.50%
Due from Related Parties	$ 3,600		$ 3,600		$ 3,700

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Securities Available for Sale - Amortized Cost and Estimated Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Amortized Cost - Due within one year	$ 340
Amortized Cost - Due after one year through five years	882
Amortized Cost - Due after five years through ten years	23,894
Amortized Cost - Due after ten years	19,094
Amortized Cost	876,368	$ 793,877
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Estimated Fair Value - Due within one year	340
Estimated Fair Value - Due after one year through five years	959
Estimated Fair Value - Due after five years through ten years	24,024
Estimated Fair Value - Due after ten years	18,309
Estimated Fair Value	875,405	796,523
Available-for-sale Securities, Restricted	339,100	366,200
GSE collateralized mortgage obligations
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Amortized Cost - no single maturity date	363,759
Amortized Cost	363,759	304,947
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Estimated Fair Value - no single maturity date	362,153
Estimated Fair Value	362,153	302,774
GSE mortgage-backed securities
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Amortized Cost - no single maturity date	450,974
Amortized Cost	450,974	460,487
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Estimated Fair Value - no single maturity date	452,327
Estimated Fair Value	452,327	465,489
Mutual funds - GSE mortgage related securities
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract]
Amortized Cost - no single maturity date	17,425
Amortized Cost	17,425	17,425
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Estimated Fair Value - no single maturity date	17,293
Estimated Fair Value	$ 17,293	$ 17,343

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Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2015

Derivative [Line Items]

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

At June 30, 2015, the following interest rate swaps related to our loan hedging program were outstanding:

	As of June 30, 2015
Interest rate swaps on loans with loan customers
Notional amount (in thousands)	$	83,848
Weighted average remaining term	7.5 years
Received fixed rate (weighted average)	4.44		%
Pay variable rate (weighted average)	2.55		%
Estimated fair value (in thousands)	$	1,127
Back to back interest rate swaps with correspondent banks
Notional amount (in thousands)	$	83,848
Weighted average remaining term	7.5 years
Received variable rate (weighted average)	2.55		%
Pay fixed rate (weighted average)	4.44		%
Estimated fair value (in thousands)	$	(1,127	)

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Subordinated Debentures (Tables)

6 Months Ended

Jun. 30, 2015

Subordinated Borrowings [Abstract]

Summary of Trust Preferred Securities and Debentures

The following table is a summary of trust preferred securities and Debentures at June 30, 2015:

Issuance Trust	Issuance Date	Trust Preferred Security Amount		Carrying Value of Subordinated Debentures		Rate Type	Current Rate		Maturity Date
		(Dollars in thousands)
Nara Capital Trust III	6/5/2003	$	5,000	$	5,155	Variable	3.44	%	6/15/2033
Nara Statutory Trust IV	12/22/2003	5,000		5,155		Variable	3.13	%	1/7/2034
Nara Statutory Trust V	12/17/2003	10,000		10,310		Variable	3.23	%	12/17/2033
Nara Statutory Trust VI	3/22/2007	8,000		8,248		Variable	1.94	%	6/15/2037
Center Capital Trust I	12/30/2003	18,000		13,373		Variable	3.13	%	1/7/2034
TOTAL ISSUANCE		$	46,000	$	42,241

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BBCN Bancorp, Inc.

6 Months Ended

Jun. 30, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BBCN Bancorp, Inc.

BBCN Bancorp, Inc.

BBCN Bancorp, Inc. ("BBCN Bancorp" on a parent-only basis and the "Company" on a consolidated basis), headquartered in Los Angeles, California, is the holding company for BBCN Bank ("BBCN Bank" or the "Bank"). The Bank has branches in California, New Jersey, and the New York City, Chicago, Seattle and Washington, D.C. metropolitan areas, as well as loan production offices in Atlanta, Dallas, Denver, Northern California, Seattle and Annandale. The Company is a corporation organized under the laws of the state of Delaware and a bank holding company registered under the Bank Holding Company Act of 1956, as amended.

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Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

The following table provides information regarding the core deposit intangibles at June 30, 2015:

		As of June 30, 2015
	Amortization period	Gross Carrying Amount		Accumulated Amortization
		(In thousands)
Core deposit—Center Financial Corporation acquisition	7 years	$	4,100	$	(2,971	)
Core deposit—PIB acquisition	7 years	603		(324		)
Core deposit—Foster acquisition	10 years	2,763		(817		)
Total		$	7,466	$	(4,112	)

Schedule of Servicing Assets

The changes in servicing assets for the three and six months ended June 30, 2015 and 2014 were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(In thousands)
Balance at beginning of period	$	10,529		$	9,123		$	10,341		$	8,915
Additions through originations of servicing assets	1,144			858			2,189			1,672
Amortization	(738		)	(957		)	(1,595		)	(1,563		)
Balance at end of period	$	10,935		$	9,024		$	10,935		$	9,024

Summary of Fair Value Inputs

The inputs used in determining the fair value of the servicing assets at June 30, 2015 and December 31, 2014 are presented below.

	June 30, 2015	December 31, 2014
	Range	Range
Weighted-average discount rate	5.32% ~ 5.92%	5.44% ~ 5.74%
Constant prepayment rate	7.00% ~ 11.90%	8.80% ~12.40%

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Stock-Based Compensation - Restricted and Performance Unit Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Allocated share-based compensation expense	$ 420	$ 184	$ 628	$ 297
Tax benefit from compensation expense	$ 168	100	$ 251	$ 115
Retricted and performance unit activity
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding - beginning of period (in shares)			175,668
Granted (in shares)			15,000
Vested (in shares)			(53,083)
Forfeited (in shares)			(2,288)
Outstanding - end of period (in shares)	135,297		135,297
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding - beginning of period, Weighted-Average Grant Date Fair Value (in dollars per share)			$ 13.52
Granted, Weighted-Average Grant Date Fair Value (in dollars per share)			14.11
Vested, Weighted-Average Grant Date Fair Value (in dollars per share)			12.20
Forfeited, Weighted-Average Grant Date Fair Value (in dollars per share)			14.38
Outstanding - end of period, Weighted-Average Grant Date Fair Value (in dollars per share)	$ 14.07		$ 14.07
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Total compensation cost not yet recognized	$ 1,600		$ 1,600
Total compensation cost not yet recognized, period for recognition			3 years 25 days
Performance shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Equity instruments other than options, vested in period	725	$ 900
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Total compensation cost not yet recognized	$ 800		$ 800
Total compensation cost not yet recognized, period for recognition			3 years 9 months 17 days

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Loans Receivable and Allowance for Loan Losses - Allowance for Loans, by Portfolio Segment and Impairment Method (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Financing Receivable, Impaired [Line Items]
Positive or Negative Qualitative Adjustment of the Loss Migration Ratio or Individual Specific Reserve Allocations, In Basis Points	0.50%
Loans by Portfolio Segment and Impairment Method [Abstract]
Impaired loans (gross carrying value)	$ 118,698		$ 127,145
Specific allowance	$ 8,065		$ 10,922
Loss coverage ratio	6.80%		8.60%
Non-impaired loans	$ 5,700,124		$ 5,440,937
General allowance	$ 62,053		$ 56,836
Loss coverage ratio	1.10%		1.00%
Total loans outstanding	$ 5,818,822		$ 5,568,082
Allowance for loan losses - Total	$ 70,118	$ 69,594	$ 67,758	$ 66,870	$ 65,699	$ 67,320
Loss coverage ratio	1.20%		1.20%
Real estate
Loans by Portfolio Segment and Impairment Method [Abstract]
Total loans outstanding	$ 4,645,401		$ 4,439,850
Real estate | Residential
Loans by Portfolio Segment and Impairment Method [Abstract]
Impaired loans (gross carrying value)	0		0
Specific allowance	0		0
Non-impaired loans	36,706		21,415
General allowance	$ 247		$ 146
Loss coverage ratio	0.70%		0.70%
Total loans outstanding	$ 36,706		$ 21,415
Allowance for loan losses - Total	$ 247		$ 146
Loss coverage ratio	0.70%		0.70%
Real estate | Commercial & industrial
Loans by Portfolio Segment and Impairment Method [Abstract]
Impaired loans (gross carrying value)	$ 72,345		$ 76,020
Specific allowance	$ 2,374		$ 2,374
Loss coverage ratio	3.30%		3.10%
Non-impaired loans	$ 4,431,449		$ 4,248,329
General allowance	$ 47,773		$ 44,161
Loss coverage ratio	1.10%		1.00%
Total loans outstanding	$ 4,503,794		$ 4,324,349
Allowance for loan losses - Total	$ 50,147		$ 46,535
Loss coverage ratio	1.10%		1.10%
Real estate | Construction
Loans by Portfolio Segment and Impairment Method [Abstract]
Impaired loans (gross carrying value)	$ 0		$ 1,521
Specific allowance	0		$ 0
Loss coverage ratio			0.00%
Non-impaired loans	104,901		$ 92,565
General allowance	$ 593		$ 667
Loss coverage ratio	0.60%		0.70%
Total loans outstanding	$ 104,901		$ 94,086
Allowance for loan losses - Total	$ 593		$ 667
Loss coverage ratio	0.60%		0.70%
Commercial business
Loans by Portfolio Segment and Impairment Method [Abstract]
Impaired loans (gross carrying value)	$ 38,044		$ 42,607
Specific allowance	$ 4,756		$ 7,236
Loss coverage ratio	12.50%		17.00%
Non-impaired loans	$ 932,743		$ 861,014
General allowance	$ 11,522		$ 9,235
Loss coverage ratio	1.20%		1.10%
Total loans outstanding	$ 970,787		$ 903,621
Allowance for loan losses - Total	$ 16,278		$ 16,471
Loss coverage ratio	1.70%		1.80%
Trade finance
Loans by Portfolio Segment and Impairment Method [Abstract]
Impaired loans (gross carrying value)	$ 6,670		$ 5,936
Specific allowance	$ 320		$ 1,312
Loss coverage ratio	4.80%		22.10%
Non-impaired loans	$ 108,257		$ 128,826
General allowance	$ 1,440		$ 2,144
Loss coverage ratio	1.30%		1.70%
Total loans outstanding	$ 114,927		$ 134,762
Allowance for loan losses - Total	$ 1,760		$ 3,456
Loss coverage ratio	1.50%		2.60%
Consumer and other
Loans by Portfolio Segment and Impairment Method [Abstract]
Impaired loans (gross carrying value)	$ 1,639		$ 1,061
Specific allowance	$ 615		$ 0
Loss coverage ratio	37.50%		0.00%
Non-impaired loans	$ 86,068		$ 88,788
General allowance	$ 478		$ 483
Loss coverage ratio	0.60%		0.50%
Total loans outstanding	$ 87,707		$ 89,849
Allowance for loan losses - Total	$ 1,093		$ 483
Loss coverage ratio	1.20%		0.50%

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Regulatory Matters (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Company
Total capital (to risk-weighted assets), Amount
Total Capital, Actual	$ 915,181,000	$ 881,794,000
Total Capital, Required For Capital Adequacy Purposes	510,443,000	476,490,000
Tier I capital (to risk-weighted assets), Amount
Tier I Capital, Actual (Risk Based)	843,637,000	812,464,000
Tier I Capital, Required For Capital Adequacy Purposes	382,832,000	238,245,000
Tier I capital (to average assets), Amount
Tier I Capital, Actual (Leverage)	843,637,000	812,464,000
Tier I Capital, Required For Capital Adequacy Purposes	$ 286,052,000	$ 279,709,000
Total capital and Tier I capital (to risk-weighted assets), Ratio
Total Capital (to Risk Weighted Assets), Actual	14.34%	14.80%
Total Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes	8.00%	8.00%
Tier I Capital (to Risk Weighted Assets), Actual (Risk Based)	13.22%	13.64%
Tier I Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes (Risk Based)	6.00%	4.00%
Tier I capital (to average assets), Ratio
Tier I Capital (to Average Assets), Actual (Leverage)	11.80%	11.62%
Tier I Capital (to Average Assets), Minimum For Capital Adequacy Purposes (Leverage)	4.00%	4.00%
Bank
Total capital (to risk-weighted assets), Amount
Total Capital, Actual	$ 905,479,000	$ 869,343,000
Total Capital, Required For Capital Adequacy Purposes	510,014,000	476,101,000
Required To Be Well Capitalized under Prompt Corrective Action Provisions	637,518,000	595,126,000
Tier I capital (to risk-weighted assets), Amount
Tier I Capital, Actual (Risk Based)	833,935,000	800,013,000
Tier I Capital, Required For Capital Adequacy Purposes	382,511,000	238,050,000
Tier I Capital, Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Risk Based)	510,014,000	357,076,000
Tier I capital (to average assets), Amount
Tier I Capital, Actual (Leverage)	833,935,000	800,013,000
Tier I Capital, Required For Capital Adequacy Purposes	285,903,000	279,585,000
Tier I Capital, Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Leverage)	$ 357,379,000	$ 349,481,000
Total capital and Tier I capital (to risk-weighted assets), Ratio
Total Capital (to Risk Weighted Assets), Actual	14.20%	14.61%
Total Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes	8.00%	8.00%
Total Capital (to Risk Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions	10.00%	10.00%
Tier I Capital (to Risk Weighted Assets), Actual (Risk Based)	13.08%	13.44%
Tier I Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes (Risk Based)	6.00%	4.00%
Tier I Capital (to Risk Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Risk Based)	8.00%	6.00%
Tier I capital (to average assets), Ratio
Tier I Capital (to Average Assets), Actual (Leverage)	11.67%	11.45%
Tier I Capital (to Average Assets), Minimum For Capital Adequacy Purposes (Leverage)	4.00%	4.00%
Tier I Capital (to Average Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Leverage)	5.00%	5.00%
Common equity tier 1 capital [Member] | Company
Tier I capital (to risk-weighted assets), Amount
Tier I Capital, Actual (Risk Based)	$ 802,821,000
Common Equity Tier 1 [Member] | Company
Tier I capital (to risk-weighted assets), Amount
Tier I Capital, Required For Capital Adequacy Purposes	$ 287,124,000
Total capital and Tier I capital (to risk-weighted assets), Ratio
Tier I Capital (to Risk Weighted Assets), Actual (Risk Based)	12.58%
Tier I Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes (Risk Based)	4.50%
Common Equity Tier 1 [Member] | Bank
Tier I capital (to risk-weighted assets), Amount
Tier I Capital, Actual (Risk Based)	$ 833,935,000
Tier I Capital, Required For Capital Adequacy Purposes	286,883,100.0000
Tier I Capital, Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Risk Based)	$ 414,386,700.0000
Total capital and Tier I capital (to risk-weighted assets), Ratio
Tier I Capital (to Risk Weighted Assets), Actual (Risk Based)	13.08%
Tier I Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes (Risk Based)	4.50%
Tier I Capital (to Risk Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Risk Based)	6.50%

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Condensed Consolidated Statements Of Financial Condition - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Cash and cash equivalents:
Cash and due from banks	$ 97,224	$ 86,119
Interest bearing deposits in other banks	224,042	376,041
Total cash and cash equivalents	321,266	462,160
Securities available for sale, at fair value	875,405	796,523
Loans held for sale, at the lower of cost or fair value	33,785	28,311
Loans receivable (net of allowance for loan losses of $70,118 and $67,758 at June 30, 2015 and December 31, 2014, respectively)	5,745,706	5,497,434
Other real estate owned (OREO), net	20,187	21,938
Federal Home Loan Bank (FHLB) stock, at cost	19,114	28,324
Premises and equipment (net of accumulated depreciation and amortization of $33,295 and $29,915 at June 30, 2015 and December 31, 2014, respectively)	35,321	30,722
Accrued interest receivable	13,781	13,634
Deferred tax assets, net	58,892	63,023
Customers’ liabilities on acceptances	1,359	1,889
Bank owned life insurance (BOLI)	46,466	45,927
Investments in affordable housing partnerships	11,910	10,401
Goodwill	105,401	105,401
Core deposit intangible assets, net	3,354	3,887
Servicing assets	10,935	10,341
Other assets	30,437	20,415
Total assets	7,333,319	7,140,330
LIABILITIES:
Noninterest bearing	1,689,137	1,543,018
Interest bearing:
Money market and NOW accounts	1,615,974	1,663,855
Savings deposits	196,998	198,205
Time deposits of $100,000 or more	1,637,673	1,667,367
Other time deposits	618,508	621,007
Total deposits	5,758,290	5,693,452
FHLB advances	580,785	480,975
Subordinated debentures	42,241	42,158
Accrued interest payable	5,954	5,855
Acceptances outstanding	1,359	1,889
Other liabilities	36,102	33,228
Total liabilities	6,424,731	6,257,557
STOCKHOLDERS’ EQUITY:
Common stock, $0.001 par value; authorized 150,000,000 shares at June 30, 2015 and December 31, 2014; issued and outstanding, 79,550,403 and 79,503,552 shares at June 30, 2015 and December 31, 2014, respectively	80	79
Additional paid-in capital	541,091	541,589
Retained earnings	367,792	339,400
Accumulated other comprehensive (loss) income, net	(375)	1,705
Total stockholders’ equity	908,588	882,773
Total liabilities and stockholders’ equity	$ 7,333,319	$ 7,140,330

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Securities Available for Sale - Aggregate Unrealized Losses and Fair Value (Details) $ in Thousands		3 Months Ended		6 Months Ended		12 Months Ended
		Jun. 30, 2015 USD ($) security	Jun. 30, 2014 USD ($)	Jun. 30, 2015 USD ($) security	Jun. 30, 2014 USD ($)	Dec. 31, 2014 USD ($) security
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions [Abstract]
Number of Securities, Less than 12 months | security		96		96		14
Number of Securities, 12 months or longer | security		13		13		21
Number of Securities, Total | security		109		109		35
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value - Less than 12 months		$ 327,537		$ 327,537		$ 109,322
Fair Value - 12 months or longer		117,713		117,713		212,930
Fair Value - Total		445,250		445,250		322,252
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Gross Unrealized Losses - Less than 12 months		(2,809)		(2,809)		(646)
Gross Unrealized Losses - 12 months or longer		(4,577)		(4,577)		(5,055)
Gross Unrealized Losses - Total		(7,386)		(7,386)		$ (5,701)
Unrealized gain on available-for-sale securities		(8,446)	$ 6,655	(3,191)	$ 17,795
Reclassification out of accumulated other comprehensive income as a result of securities being sold		$ 0	$ 0	$ 424	$ 0
GSE collateralized mortgage obligations
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions [Abstract]
Number of Securities, Less than 12 months | security	[1]	12		12		7
Number of Securities, 12 months or longer | security	[1]	9		9		13
Number of Securities, Total | security	[1]	21		21		20
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value - Less than 12 months	[1]	$ 102,215		$ 102,215		$ 71,189
Fair Value - 12 months or longer	[1]	84,821		84,821		133,563
Fair Value - Total	[1]	187,036		187,036		204,752
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Gross Unrealized Losses - Less than 12 months	[1]	(1,000)		(1,000)		(507)
Gross Unrealized Losses - 12 months or longer	[1]	(2,380)		(2,380)		(3,042)
Gross Unrealized Losses - Total	[1]	$ (3,380)		$ (3,380)		$ (3,549)
GSE mortgage-backed securities
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions [Abstract]
Number of Securities, Less than 12 months | security	[1]	20		20		7
Number of Securities, 12 months or longer | security	[1]	3		3		6
Number of Securities, Total | security	[1]	23		23		13
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value - Less than 12 months	[1]	$ 182,162		$ 182,162		$ 38,133
Fair Value - 12 months or longer	[1]	28,929		28,929		62,036
Fair Value - Total	[1]	211,091		211,091		100,169
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Gross Unrealized Losses - Less than 12 months	[1]	(1,236)		(1,236)		(139)
Gross Unrealized Losses - 12 months or longer	[1]	(1,622)		(1,622)		(1,387)
Gross Unrealized Losses - Total	[1]	$ (2,858)		$ (2,858)		$ (1,526)
Trust preferred securities
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions [Abstract]
Number of Securities, Less than 12 months | security		0		0		0
Number of Securities, 12 months or longer | security		1		1		1
Number of Securities, Total | security		1		1		1
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value - Less than 12 months		$ 0		$ 0		$ 0
Fair Value - 12 months or longer		3,963		3,963		3,988
Fair Value - Total		3,963		3,963		3,988
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Gross Unrealized Losses - Less than 12 months		0		0		0
Gross Unrealized Losses - 12 months or longer		(575)		(575)		(544)
Gross Unrealized Losses - Total		$ (575)		$ (575)		$ (544)
Municipal bonds
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions [Abstract]
Number of Securities, Less than 12 months | security		63		63
Number of Securities, 12 months or longer | security		0		0
Number of Securities, Total | security		63		63
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value - Less than 12 months		$ 29,867		$ 29,867
Fair Value - 12 months or longer		0		0
Fair Value - Total		29,867		29,867
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Gross Unrealized Losses - Less than 12 months		(441)		(441)
Gross Unrealized Losses - 12 months or longer		0		0
Gross Unrealized Losses - Total		$ (441)		$ (441)
Mutual funds - GSE mortgage related securities
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions [Abstract]
Number of Securities, Less than 12 months | security		1		1		0
Number of Securities, 12 months or longer | security		0		0		1
Number of Securities, Total | security		1		1		1
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value - Less than 12 months		$ 13,293		$ 13,293		$ 0
Fair Value - 12 months or longer		0		0		13,343
Fair Value - Total		13,293		13,293		13,343
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Gross Unrealized Losses - Less than 12 months		(132)		(132)		0
Gross Unrealized Losses - 12 months or longer		0		0		(82)
Gross Unrealized Losses - Total		$ (132)		$ (132)		$ (82)
Credit concentration risk | Stockholders' equity | Non-US Government and agency securities
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract]
Maximum exposure to any single issuer				10.00%		10.00%

[1] Investments in U.S. Government agency and U.S. Government sponsored enterprises

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Condensed Consolidated Statements Of Changes In Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital [Member]	Retained earnings	Accumulated other comprehensive income (loss), net
Balance at Dec. 31, 2013		$ 79	$ 540,876	$ 278,604	$ (10,185)
Balance, shares at Dec. 31, 2013		79,441,525
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of additional shares pursuant to various stock plans, shares		52,207
Issuance of additional shares pursuant to various stock plans
Stock-based compensation			$ 297
Redemption of common stock warrant	$ 0
Cash dividends declared on common stock				(11,917)
Comprehensive income:
Net income	44,508			44,508
Other comprehensive income (loss)	10,347				10,347
Balance at Jun. 30, 2014		$ 79	541,173	311,195	162
Balance, shares at Jun. 30, 2014		79,493,732.000
Balance at Dec. 31, 2014	882,773	$ 79	541,589	339,400	1,705
Balance, shares at Dec. 31, 2014		79,503,552
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of additional shares pursuant to various stock plans, shares		46,851
Issuance of additional shares pursuant to various stock plans		$ 1	(22)
Stock-based compensation			628
Redemption of common stock warrant	(1,150)
Cash dividends declared on common stock				(15,907)
Comprehensive income:
Net income	44,299			44,299
Other comprehensive income (loss)	(2,080)				(2,080)
Balance at Jun. 30, 2015	$ 908,588	$ 80	$ 541,091	$ 367,792	$ (375)
Balance, shares at Jun. 30, 2015		79,550,403.000

XML

Derivative Financial Instruments (Details) - Jun. 30, 2015 - USD ($) $ in Thousands	Total
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Fixed Interest Rate	4.44%
Derivative, Variable Interest Rate	2.55%
Derivative, Fair Value, Net	$ 1,127
Derivative Liability, Notional Amount	$ 83,848
Derivative, Average Remaining Maturity	7 years 6 months
Derivative, Name [Domain]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Fair Value, Net	$ (1,127)
Interest Rate Swap [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset, Notional Amount	$ 83,848

XML

Regulatory Matters (Tables)

6 Months Ended

Jun. 30, 2015

Banking and Thrift [Abstract]

Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations

	Actual				Required For Capital Adequacy Purposes				Required To Be Well Capitalized under Prompt Corrective Action Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(Dollars in thousands)
As of June 30, 2015
Common equity tier 1 capital (to risk weighted assets):
Company	$	802,821	12.58	%	$	287,124	4.50	%	N/A		N/A
Bank	$	833,935	13.08	%	$	286,883	4.50	%	$	414,387	6.50	%
Total capital (to risk-weighted assets):
Company	$	915,181	14.34	%	$	510,443	8.00	%	N/A		N/A
Bank	$	905,479	14.20	%	$	510,014	8.00	%	$	637,518	10.00	%
Tier I capital (to risk-weighted assets):
Company	$	843,637	13.22	%	$	382,832	6.00	%	N/A		N/A
Bank	$	833,935	13.08	%	$	382,511	6.00	%	$	510,014	8.00	%
Tier I capital (to average assets):
Company	$	843,637	11.80	%	$	286,052	4.00	%	N/A		N/A
Bank	$	833,935	11.67	%	$	285,903	4.00	%	$	357,379	5.00	%
	Actual				Required For Capital Adequacy Purposes				Required To Be Well Capitalized under Prompt Corrective Action Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(Dollars in thousands)
As of December 31, 2014
Total capital (to risk-weighted assets):
Company	$	881,794	14.80	%	$	476,490	8.00	%	N/A		N/A
Bank	$	869,343	14.61	%	$	476,101	8.00	%	$	595,126	10.00	%
Tier I capital (to risk-weighted assets):
Company	$	812,464	13.64	%	$	238,245	4.00	%	N/A		N/A
Bank	$	800,013	13.44	%	$	238,050	4.00	%	$	357,076	6.00	%
Tier I capital (to average assets):
Company	$	812,464	11.62	%	$	279,709	4.00	%	N/A		N/A
Bank	$	800,013	11.45	%	$	279,585	4.00	%	$	349,481	5.00	%

XML

Fair Value Measurements - Assets and Liabilities Measured at Fair Value, Recurring (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets:
Securities available for sale, at fair value	$ 875,405	$ 796,523
GSE collateralized mortgage obligations
Assets:
Securities available for sale, at fair value	362,153	302,774
GSE mortgage-backed securities
Assets:
Securities available for sale, at fair value	452,327	465,489
Trust preferred securities
Assets:
Securities available for sale, at fair value	3,963	3,987
Municipal bonds
Assets:
Securities available for sale, at fair value	39,669	6,930
Mutual funds
Assets:
Securities available for sale, at fair value	17,293	17,343
Recurring basis | GSE collateralized mortgage obligations
Assets:
Securities available for sale, at fair value	362,153	302,774
Recurring basis | GSE mortgage-backed securities
Assets:
Securities available for sale, at fair value	452,327	465,489
Recurring basis | Trust preferred securities
Assets:
Securities available for sale, at fair value	3,963	3,987
Recurring basis | Municipal bonds
Assets:
Securities available for sale, at fair value	39,669	6,930
Recurring basis | Mutual funds
Assets:
Securities available for sale, at fair value	17,293	17,343
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | GSE collateralized mortgage obligations
Assets:
Securities available for sale, at fair value	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | GSE mortgage-backed securities
Assets:
Securities available for sale, at fair value	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Trust preferred securities
Assets:
Securities available for sale, at fair value	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Municipal bonds
Assets:
Securities available for sale, at fair value	0	0
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mutual funds
Assets:
Securities available for sale, at fair value	17,293	17,343
Recurring basis | Significant Other Observable Inputs (Level 2) | GSE collateralized mortgage obligations
Assets:
Securities available for sale, at fair value	362,153	302,774
Recurring basis | Significant Other Observable Inputs (Level 2) | GSE mortgage-backed securities
Assets:
Securities available for sale, at fair value	452,327	465,489
Recurring basis | Significant Other Observable Inputs (Level 2) | Trust preferred securities
Assets:
Securities available for sale, at fair value	3,963	3,987
Recurring basis | Significant Other Observable Inputs (Level 2) | Municipal bonds
Assets:
Securities available for sale, at fair value	38,523	5,752
Recurring basis | Significant Other Observable Inputs (Level 2) | Mutual funds
Assets:
Securities available for sale, at fair value	0	0
Recurring basis | Significant Unobservable Inputs (Level 3) | GSE collateralized mortgage obligations
Assets:
Securities available for sale, at fair value	0	0
Recurring basis | Significant Unobservable Inputs (Level 3) | GSE mortgage-backed securities
Assets:
Securities available for sale, at fair value	0	0
Recurring basis | Significant Unobservable Inputs (Level 3) | Trust preferred securities
Assets:
Securities available for sale, at fair value	0	0
Recurring basis | Significant Unobservable Inputs (Level 3) | Municipal bonds
Assets:
Securities available for sale, at fair value	1,146	1,178
Recurring basis | Significant Unobservable Inputs (Level 3) | Mutual funds
Assets:
Securities available for sale, at fair value	$ 0	$ 0

XML

Regulatory Matters

6 Months Ended

Jun. 30, 2015

Banking and Thrift [Abstract]

Regulatory Matters

Regulatory Matters

The Company and the Bank are subject to various regulatory capital requirements administered by the federal and state banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material and adverse effect on the Company’s and the Bank’s financial statements, such as restrictions on growth or the payment of dividends or other capital distributions or management fees. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Prompt corrective action provisions are not applicable to bank holding companies.

In July, 2013, the federal bank regulatory agencies adopted final regulations, which revised their risk-based and leverage capital requirements for banking organizations to meet requirements of Dodd-Frank and to implement Basel III international agreements reached by the Basel Committee. The final rules began for the Company and the Bank on January 1, 2015 and are subject to a phase-in period through January 1, 2019. The final rules that had an impact on the Company and the Bank include:

• An increase in the minimum Tier 1 capital ratio from 4.00% to 6.00% of risk-weighted assets;

• A new category and a required 4.50% of risk-weighted assets ratio is established for “common equity Tier 1” as a subset of Tier 1 capital limited to common equity;

• A minimum non-risk-based leverage ratio is set at 4.00%, eliminating a 3.00% exception for higher rated banks;

• Changes in the permitted composition of Tier 1 capital to exclude trust preferred securities, mortgage servicing rights and certain deferred tax assets and include unrealized gains and losses on available for sale debt and equity securities;

• The risk-weights of certain assets for purposes of calculating the risk-based capital ratios are changed for high volatility commercial real estate acquisition, development and construction loans, certain past due non-residential mortgage loans and certain mortgage-backed and other securities exposures; and

• A new additional capital conservation buffer of 2.5% of risk weighted assets over each of the required capital ratios will be phased in from 2016 to 2019 and must be met to avoid limitations on the ability of the Bank to pay dividends, repurchase shares or pay discretionary bonuses.

Management believes that the capital ratios for the Company and the Bank under Basel III will continue to exceed the well capitalized minimum capital requirements. As of June 30, 2015, the ratios for the Company and the Bank are sufficient to meet the fully phased-in conservation buffer.

As of June 30, 2015 and December 31, 2014, the most recent regulatory notification categorized the Bank as "well-capitalized" under the regulatory framework for prompt corrective action. To be categorized as "well-capitalized", the Bank must maintain minimum total risk-based, Tier I risk-based and Tier I leverage ratios as set forth in the table below. There are no conditions or events since the notification that management believes have changed the Bank’s category.

The Company’s and the Bank’s actual capital amounts and ratios are presented in the table below:

	Actual				Required For Capital Adequacy Purposes				Required To Be Well Capitalized under Prompt Corrective Action Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(Dollars in thousands)
As of June 30, 2015
Common equity tier 1 capital (to risk weighted assets):
Company	$	802,821	12.58	%	$	287,124	4.50	%	N/A		N/A
Bank	$	833,935	13.08	%	$	286,883	4.50	%	$	414,387	6.50	%
Total capital (to risk-weighted assets):
Company	$	915,181	14.34	%	$	510,443	8.00	%	N/A		N/A
Bank	$	905,479	14.20	%	$	510,014	8.00	%	$	637,518	10.00	%
Tier I capital (to risk-weighted assets):
Company	$	843,637	13.22	%	$	382,832	6.00	%	N/A		N/A
Bank	$	833,935	13.08	%	$	382,511	6.00	%	$	510,014	8.00	%
Tier I capital (to average assets):
Company	$	843,637	11.80	%	$	286,052	4.00	%	N/A		N/A
Bank	$	833,935	11.67	%	$	285,903	4.00	%	$	357,379	5.00	%
	Actual				Required For Capital Adequacy Purposes				Required To Be Well Capitalized under Prompt Corrective Action Provisions
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(Dollars in thousands)
As of December 31, 2014
Total capital (to risk-weighted assets):
Company	$	881,794	14.80	%	$	476,490	8.00	%	N/A		N/A
Bank	$	869,343	14.61	%	$	476,101	8.00	%	$	595,126	10.00	%
Tier I capital (to risk-weighted assets):
Company	$	812,464	13.64	%	$	238,245	4.00	%	N/A		N/A
Bank	$	800,013	13.44	%	$	238,050	4.00	%	$	357,076	6.00	%
Tier I capital (to average assets):
Company	$	812,464	11.62	%	$	279,709	4.00	%	N/A		N/A
Bank	$	800,013	11.45	%	$	279,585	4.00	%	$	349,481	5.00	%

XML

Business Combinations - Summary of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Liabilities Assumed:
Goodwill	$ 105,401	$ 105,401

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Business Combinations (Tables)

6 Months Ended

Jun. 30, 2015

Business Acquisition [Line Items]

Fair Value of Acquired Loans

The following table presents loans acquired with deteriorated credit quality as of the date of acquisition:

	Foster		PIB
	(In thousands)
Contractually required principal and interest at acquisition	$	150,430	$	54,462
Contractual cash flows not expected to be collected (nonaccretable discount)	37,447		9,687
Expected cash flows at acquisition	112,983		44,775
Interest component of expected cash flows (accretable discount)	14,928		4,945
Fair value of acquired impaired loans	$	98,055	$	39,830

Pro Forma Information

The following unaudited combined pro forma information presents the operating results for the three and nine months ended March 31, 2015 and 2014, as if the Foster and PIB acquisitions had occurred on January 1, 2013:

	Three Months Ended March 31,				Three Months Ended March 31,
	2015		2.014		2015		2.014
	(In thousands, except share data)
Net interest income	$	67,907	$	66,353	$	200,363	$	196,861
Net income	$	21,420	$	22,960	$	65,928	$	60,084
Preferred stock dividends and accretion of preferred stock discount	—		—		—		—
Net income (loss) available to common stockholders	$	—	$	—	$	—	$	—
Pro forma earnings per share:
Basic	$	0.27	$	0.29	$	0.83	$	0.76
Diluted	$	0.27	$	0.29	$	0.83	$	0.75

Foster Bankshares Inc

Business Acquisition [Line Items]

Consideration Paid, Assets Acquired and Liabilities Assumed

The consideration paid, the assets acquired, and the liabilities assumed are summarized in the following table:

	(In thousands)
Consideration paid:
BBCN common stock issued in exchange for Foster common stock	$	2,609
Cash paid for the redemption of Foster common stock	2,042
Liability for unredeemed Foster common stock	116
Total consideration paid	$	4,767
Assets Acquired:
Cash and cash equivalents	$	42,883
Investment securities available for sale	4,844
Loans receivable	255,297
FRB and FHLB stock	1,714
OREO	14,251
Premises and equipment	4,733
Core deposit intangibles	2,763
Deferred tax assets, net	21,211
Other assets	2,353
Liabilities Assumed:
Deposits	(321,596		)
Borrowings	(18,045		)
Subordinated debentures	(15,309		)
Other liabilities	(5,857		)
Total identifiable net assets	$	(10,758	)
Excess of consideration paid over fair value of net assets acquired (goodwill)	$	15,525

Pacific International Bancorp, Inc.

Business Acquisition [Line Items]

Consideration Paid, Assets Acquired and Liabilities Assumed

In connection with the acquisition, the consideration paid, the assets acquired, and the liabilities assumed are summarized in the following table:

	(In thousands)
Consideration paid:
BBCN common stock issued	$	8,437
Cash in lieu of fractional shares paid to PIB stockholders	1
Redemption of Preferred Stock	7,475
Total consideration paid	$	15,913
Assets Acquired:
Cash and cash equivalents	$	25,968
Investment securities available for sale	7,810
Loans receivable	131,589
FRB and FHLB stock	1,829
OREO	3,418
Deferred tax assets, net	9,886
Core deposit intangibles	604
Other assets	2,514
Liabilities Assumed:
Deposits	(143,665		)
Borrowings	(14,698		)
Subordinated debentures	(4,108		)
Other liabilities	(5,116		)
Total identifiable net assets	$	16,031
Bargain purchase gain	$	118

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Fair Value Measurements - Total Net Gains Losses on Assets Measured at Fair Value on a Non-Recurring Basis (Details) - Non-recurring basis - Change during period - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Impaired loans at fair value - Real estate loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total gains (losses), fair value	$ (89)	$ 212	$ 445	$ 1,916
Impaired loans at fair value - Commercial business
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total gains (losses), fair value	1,650	(242)	2,924	(3,416)
Impaired loans at fair value - Trade finance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total gains (losses), fair value	315	(1,537)	5	(2,196)
Impaired loans at fair value - Consumer
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total gains (losses), fair value	712	195	700	149
Loans held for sale, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total gains (losses), fair value	45	0	227	0
OREO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total gains (losses), fair value	$ 325	$ (320)	$ 814	$ (330)

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Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 44,299	$ 44,508
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, amortization, net of discount accretion	(1,901)	(10,008)
Stock-based compensation expense	628	297
Provision for loan losses	2,500	6,022
Valuation adjustment of OREO	631	448
Proceeds from sales of loans held for sale	73,890	68,143
Originations of loans held for sale	(74,496)	(77,035)
Net gains on sales of SBA and other loans	(6,390)	(5,533)
Net change in BOLI	(539)	(584)
Net gains on sales of securities available for sale	(424)	0
Net gains on sales of OREO	(183)	(437)
Gain (Loss) on Disposition of Assets	7	0
Servicing Asset at Amortized Cost, Additions	(2,189)	(1,672)
Change in accrued interest receivable	(147)	270
Change in deferred income taxes, net	5,666	9,293
Change in investments in affordable housing partnership	(1,509)	669
Change in other assets	(9,869)	11,222
Change in accrued interest payable	99	1,266
Change in other liabilities	2,874	(337)
Net cash provided by operating activities	32,947	46,532
CASH FLOWS FROM INVESTING ACTIVITIES
Net change in loans receivable	(248,001)	(261,309)
Proceeds from sales of securities available for sale	22,510	0
Proceeds from sales of OREO	6,286	5,035
Proceeds from Sale of Other Loans Held-for-sale	3,295	0
Proceeds from sales and disposals of equipment	7	0
Purchase of premises and equipment	(8,121)	(2,987)
Purchase of securities available for sale	(176,184)	(82,552)
Payments to Acquire Federal Home Loan Bank Stock	150	536
Redemption of FHLB stock	9,360	78
Proceeds from matured or paid-down securities available for sale	69,227	57,640
Net cash used in investing activities	(321,771)	(284,631)
CASH FLOWS FROM FINANCING ACTIVITIES
Net change in deposits	64,962	323,694
Redemption of subordinated debentures	0	(15,464)
Proceeds from FHLB advances	150,000	40,000
Repayment of FHLB advances	50,000	0
Redemption of common stock warrant	1,150	0
Cash dividends paid on Common Stock	(15,907)	(11,917)
Issuance of additional stock pursuant to various stock plans	(21)	0
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation	46	0
Net cash provided by financing activities	147,930	336,313
NET CHANGE IN CASH AND CASH EQUIVALENTS	(140,894)	98,214
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	462,160	316,705
CASH AND CASH EQUIVALENTS, END OF PERIOD	321,266	414,919
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest paid	19,016	16,085
Income taxes paid	29,873	14,245
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES
Transfer from loans receivable to OREO	5,142	1,368
Transfer from loans receivable to loans held for sale	1,773	34
Loans to facilitate sales of loans held for sale	0	$ 5,250
Additional Paid-in Capital [Member]
CASH FLOWS FROM FINANCING ACTIVITIES
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation	$ (46)

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Condensed Consolidated Statements Of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Loans receivable, allowance	$ 70,118	$ 67,758
Premises and equipment, accumulated depreciation and amortization	$ 33,295	$ 29,915
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	79,550,403	79,503,552
Common stock, shares outstanding	79,550,403	79,503,552

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Subordinated Debentures

6 Months Ended

Jun. 30, 2015

Subordinated Borrowings [Abstract]

Subordinated Debentures

Subordinated Debentures

At June 30, 2015, the Company had five wholly-owned subsidiary grantor trusts that had issued $46 million of pooled trust preferred securities. Trust preferred securities accrue and pay distributions periodically at specified annual rates as provided in the indentures. The trusts used the net proceeds from the offering to purchase a like amount of subordinated debentures (the “Debentures”) of BBCN Bancorp. The Debentures are the sole assets of the trusts. The Company’s obligations under the subordinated debentures and related documents, taken together, constitute a full and unconditional guarantee by the Company of the obligations of the trusts. The trust preferred securities are mandatorily redeemable upon the maturity of the Debentures, or upon earlier redemption as provided in the indentures. The Company has the right to redeem the Debentures in whole (but not in part) on or after specific dates, at a redemption price specified in the indentures plus any accrued but unpaid interest to the redemption date. The Company also has a right to defer consecutive payments of interest on the debentures for up to five years.

The following table is a summary of trust preferred securities and Debentures at June 30, 2015:

Issuance Trust	Issuance Date	Trust Preferred Security Amount		Carrying Value of Subordinated Debentures		Rate Type	Current Rate		Maturity Date
		(Dollars in thousands)
Nara Capital Trust III	6/5/2003	$	5,000	$	5,155	Variable	3.44	%	6/15/2033
Nara Statutory Trust IV	12/22/2003	5,000		5,155		Variable	3.13	%	1/7/2034
Nara Statutory Trust V	12/17/2003	10,000		10,310		Variable	3.23	%	12/17/2033
Nara Statutory Trust VI	3/22/2007	8,000		8,248		Variable	1.94	%	6/15/2037
Center Capital Trust I	12/30/2003	18,000		13,373		Variable	3.13	%	1/7/2034
TOTAL ISSUANCE		$	46,000	$	42,241

The Company’s investment in the common trust securities of the issuer trusts of $1.5 million and $1.6 million at June 30, 2015 and December 31, 2014, respectively, is included in other assets. Although the subordinated debt issued by the trusts are not included as a component of stockholders' equity in the consolidated balance sheets, the debt is treated as capital for regulatory purposes. The trust preferred security debt issuances are includable in Tier I capital up to a maximum of 25% of capital on an aggregate basis. Any amount that exceeds 25% qualifies as Tier 2 capital.

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Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 03, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Entity Registrant Name	BBCN BANCORP INC
Entity Central Index Key	0001128361
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		79,552,236

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Intangible Assets

6 Months Ended

Jun. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

ntangible Assets

The carrying amount of the Company's goodwill as of June 30, 2015 and December 31, 2014 was $105.4 million. There was no impairment of goodwill during the three and six months periods ended June 30, 2015 and 2014.

Core deposit intangible assets are amortized over their estimated lives, which range from seven to ten years. Amortization expense related to core deposit intangible assets totaled $267 thousand and $324 thousand for the three months ended June 30, 2015 and 2014, respectively. The amortization expense related to core deposit intangible assets totaled $534 thousand and $648 thousand for the six months ended June 30, 2015 and 2014, respectively. The following table provides information regarding the core deposit intangibles at June 30, 2015:

		As of June 30, 2015
	Amortization period	Gross Carrying Amount		Accumulated Amortization
		(In thousands)
Core deposit—Center Financial Corporation acquisition	7 years	$	4,100	$	(2,971	)
Core deposit—PIB acquisition	7 years	603		(324		)
Core deposit—Foster acquisition	10 years	2,763		(817		)
Total		$	7,466	$	(4,112	)

Servicing assets are recognized when SBA loans are sold with servicing retained with the income statement effect recorded in gains on sales of SBA loans. Servicing assets are initially recorded at fair value based on the present value of the contractually specified servicing fee, net of servicing costs, over the estimated life of the loan, using a discount rate based on the related note rate. The Company's servicing costs approximates the industry average servicing costs of 40 basis points. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans.

Management periodically evaluates servicing assets for impairment based upon the fair value of the rights as compared to the carrying amount. Impairment is determined by stratifying rights into groupings based on loan type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount.

The changes in servicing assets for the three and six months ended June 30, 2015 and 2014 were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(In thousands)
Balance at beginning of period	$	10,529		$	9,123		$	10,341		$	8,915
Additions through originations of servicing assets	1,144			858			2,189			1,672
Amortization	(738		)	(957		)	(1,595		)	(1,563		)
Balance at end of period	$	10,935		$	9,024		$	10,935		$	9,024

The Company utilizes the discounted cash flow method to calculate the initial excess servicing assets. The inputs used in determining the fair value of the servicing assets at June 30, 2015 and December 31, 2014 are presented below.

	June 30, 2015	December 31, 2014
	Range	Range
Weighted-average discount rate	5.32% ~ 5.92%	5.44% ~ 5.74%
Constant prepayment rate	7.00% ~ 11.90%	8.80% ~12.40%

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Condensed Consolidated Statements Of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
INTEREST INCOME:
Interest and fees on loans	$ 71,249	$ 71,687	$ 140,888	$ 140,381
Interest on securities	4,215	4,078	8,434	8,172
Interest on federal funds sold and other investments	1,611	688	2,307	1,253
Total interest income	77,075	76,453	151,629	149,806
INTEREST EXPENSE:
Interest on deposits	7,970	7,272	15,724	13,962
Interest on FHLB advances	1,327	1,311	2,624	2,522
Interest on other borrowings	387	380	767	867
Total interest expense	9,684	8,963	19,115	17,351
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES	67,391	67,490	132,514	132,455
PROVISION FOR LOAN LOSSES	1,000	2,996	2,500	6,022
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES	66,391	64,494	130,014	126,433
NONINTEREST INCOME:
Service fees on deposit accounts	3,030	3,360	6,092	6,832
International service fees	1,005	1,113	1,818	2,116
Loan servicing fees, net	855	610	1,575	1,578
Wire transfer fees	871	919	1,633	1,824
Other income and fees	1,570	1,648	3,658	3,267
Net gains on sales of SBA loans	3,119	2,811	6,163	5,533
Net gains on sales of other loans	45	0	227	0
Net gains on sales of securities available for sale	0	0	424	0
Net gains losses on sales of OREO	73	31	183	437
Total noninterest income	10,568	10,492	21,773	21,587
NONINTEREST EXPENSE:
Salaries and employee benefits	20,932	18,143	42,113	37,082
Occupancy	4,810	4,715	9,502	9,339
Furniture and equipment	2,323	2,012	4,586	4,026
Advertising and marketing	1,484	1,508	2,875	2,596
Data processing and communication	2,463	2,299	4,812	4,420
Professional fees	1,253	1,315	2,677	2,628
FDIC assessments	909	1,080	2,021	2,103
Credit related expenses	1,976	3,016	4,165	4,437
Other	2,548	3,651	5,181	7,382
Total noninterest expense	38,698	37,739	77,932	74,013
INCOME BEFORE INCOME TAX PROVISION	38,261	37,247	73,855	74,007
INCOME TAX PROVISION	15,320	14,935	29,556	29,499
NET INCOME	$ 22,941	$ 22,312	$ 44,299	$ 44,508
EARNINGS PER COMMON SHARE
Basic (in dollars per share)	$ 0.29	$ 0.28	$ 0.56	$ 0.56
Diluted (in dollars per share)	$ 0.29	$ 0.28	$ 0.56	$ 0.56

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Earnings Per Share ("EPS")

6 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share ("EPS")

Earnings Per Share (“EPS”)

Basic EPS does not reflect the possibility of dilution that could result from the issuance of additional shares of common stock upon exercise or conversion of outstanding securities, and is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if stock options or other contracts to issue common stock were exercised or converted to common stock that would then share in our earnings. For the three months ended June 30, 2015 stock options and restricted shares awards for 596,982 shares of common stock were excluded in computing diluted earnings per common share because they were antidilutive. For the six months period ended June 30, 2015, stock options and restricted share awards for 595,209 shares of common stock were excluded in computing diluted earnings per common share because they were antidilutive. Additionally, warrants issued pursuant to the Company's participation in the U.S. Treasury's TARP Capital Purchase Plan, to purchase 19,013 shares and 18,482 shares of common stock were antidilutive and excluded for the three and six months ended June 30, 2015 and 2014, respectively.

The following tables show the computation of basic and diluted EPS for the three months and six months ended June 30, 2015 and 2014.

	Three Months Ended June 30,
	2015					2014
	Net income (Numerator)		Weighted-Average Shares (Denominator)	Per Share (Amount)		Net income (Numerator)		Weighted-Average Shares (Denominator)	Per Share (Amount)
	(In thousands, except share and per share data)
Basic EPS - common stock	$	22,941	79,549,097	$	0.29	$	22,312	79,490,767	$	0.28
Effect of dilutive securities:
Stock options and performance units			20,778					40,119
Common stock warrants			38,530					83,160
Diluted EPS - common stock	$	22,941	79,608,405	$	0.29	$	22,312	79,614,046	$	0.28

	Six Months Ended June 30,
	2015					2014
	Net income available to common stockholders (Numerator)		Weighted-Average Shares (Denominator)	Per Share (Amount)		Net income available to common stockholders (Numerator)		Weighted-Average Shares (Denominator)	Per Share (Amount)
	(In thousands, except share and per share data)
Basic EPS - common stock	$	44,299	79,539,789	$	0.56	$	44,508	79,481,359	$	0.56
Effect of Dilutive Securities:
Stock Options and Performance Units			24,155					49,132
Common stock warrants			46,712					87,955
Diluted EPS - common stock	$	44,299	79,610,656	$	0.56	$	44,508	79,618,446	$	0.56

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Stock-Based Compensation

6 Months Ended

Jun. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

Stock-Based Compensation

The Company has a stock-based incentive plan, the 2007 BBCN Bancorp Equity Incentive Plan (the “2007 Plan”). The 2007 Plan, approved by the Company's stockholders on May 31, 2007, was amended and restated on July 25, 2007 and again on December 1, 2011. The 2007 Plan provides for grants of stock options, stock appreciation rights (“SARs”), restricted stock, performance shares and performance units (sometimes referred to individually or collectively as “awards”) to non-employee directors, officers, employees and consultants of the Company. Stock options may be either incentive stock options (“ISOs”), as defined in Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), or nonqualified stock options (“NQSOs”).

The 2007 Plan gives the Company flexibility to (i) attract and retain qualified non-employee directors, executives and other key employees and consultants with appropriate equity-based awards; (ii) motivate high levels of performance; (iii) recognize employee contributions to the Company’s success; and (iv) align the interests of the 2007 Plan participants with those of the Company’s stockholders. The exercise price for shares under an ISO may not be less than 100% of fair market value on the date the award is granted under Code Section 422. Similarly, under the terms of the 2007 Plan the exercise price for SARs and NQSOs may not be less than 100% of fair market value on the date of grant. Performance units are awarded to a participant at the market price of the Company’s common stock on the date of award (after the lapse of the restriction period and the attainment of the performance criteria). No minimum exercise price is prescribed for performance shares and restricted stock awarded under the 2007 Plan.

ISOs, SARs and NQSOs have vesting periods of three to five years and have 10-year contractual terms. Restricted stock, performance shares, and performance units will be granted with a restriction period of not less than one year from the grant date for performance-based awards and not more than three years from the grant date for time-based vesting of grants. Compensation expense for awards is recognized over the vesting period.

The Company has another stock-based incentive plan, the 2006 Stock Incentive Plan, adopted April 12, 2006, as amended and restated June 13, 2007 (the "2006 Plan"). The 2006 Plan provides for the granting of incentive stock options to officers and employees and non-qualified stock options and restricted stock awards to employees (including officers) and non-employee directors. The option prices of all options granted under the 2006 Plan must be not less than 100% of the fair market value at the date of grant. All options granted generally vest at the rate of 20% per year except that the options granted to the non-employee directors vest at the rate of 33% per year. All options not exercised generally expire ten years after the date of grant.

Under the 2007 Plan and 2006 Plan, 2,495,362 shares were available for future grants as of June 30, 2015.

The total shares reserved for issuance will serve as the underlying value for all equity awards under the 2007 Plan and 2006 Plan. With the exception of the shares underlying stock options and restricted stock awards, the board of directors may choose to settle the awards by paying the equivalent cash value or by delivering the appropriate number of shares.

The following is a summary of stock option activity under the 2007 Plan and 2006 Plan for the six months ended June 30, 2015:

	Number of Shares		Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Outstanding - January 1, 2015	591,652		$	19.00
Granted	—		—
Exercised	—		—
Expired	(3,902	)	25.94
Forfeited	—		—
Outstanding - June 30, 2015	587,750		$	18.93	2.22	$	—
Options exercisable - June 30, 2015	417,750		$	20.19	2.22	$	—

The following is a summary of restricted and performance unit activity under the 2007 Plan and 2006 Plan for the six months ended June 30, 2015:

	Number of Shares		Weighted- Average Grant Date Fair Value
Outstanding - January 1, 2015	175,668		$	13.52
Granted	15,000		14.11
Vested	(53,083	)	12.20
Forfeited	(2,288	)	14.38
Outstanding - June 30, 2015	135,297		$	14.07

The total fair value of restricted performance units vested for the six months ended June 30, 2015 and 2014 was $725 thousand and $862 thousand, respectively.

The amount charged against income related to stock-based payment arrangements was $420 thousand and $184 thousand for the three months ended June 30, 2015 and 2014, respectively. For the six months ended June 30, 2015 and 2014, $628 thousand and $297 thousand, respectively, of stock-based payment arrangements were charged against income.

The income tax benefit recognized was $168 thousand and $74 thousand for the three months ended June 30, 2015 and 2014, respectively, and the amount recognized was $251 thousand and $115 thousand for the six months ended June 30, 2015 and 2014, respectively.

At June 30, 2015, the unrecognized compensation expense related to non-vested stock option grants was $756 thousand which is expected to be recognized over a weighted average vesting period of 3.80 years. At June 30, 2015, the unrecognized compensation expense related to non-vested restricted units and performance units was $1.6 million which is expected to be recognized over a weighted average vesting period of 3.07 years.

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Basis of Presentation Basis of Presentation (Policies)

6 Months Ended

Jun. 30, 2015

Basis Of Presentation [Abstract]

Consolidation

The condensed consolidated financial statements include the accounts of BBCN Bancorp and its wholly-owned subsidiaries, principally BBCN Bank. All intercompany transactions and balances have been eliminated in consolidation. The Company has made all adjustments, consisting solely of normal recurring accruals, that in the opinion of management, are necessary to fairly present the Company's financial position at June 30, 2015 and the results of operations for the three and six months then ended. Certain reclassifications have been made to prior period amounts to conform to the current year presentation. The results of operations for the interim periods are not necessarily indicative of results to be anticipated for the full year.

Use of estimates

The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are susceptible to change in the near term relate to the determination of the allowance and provision for loan losses, the evaluation of other than temporary impairment of investment securities, accounting for derivatives and hedging activities, the determination of the carrying value for cash surrender value of life insurance, the determination of the carrying value of goodwill and other intangible assets, accounting for deferred tax assets and related valuation allowances, the determination of the fair values of investment securities and other financial instruments, accounting for lease arrangements, accounting for incentive compensation, profit sharing and bonus payments, and the valuation of servicing assets.

Recent Accounting Pronouncements

Recent Accounting Pronouncements:

FASB ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). This update to the ASC is the culmination of efforts by the FASB and the International Accounting Standards Board (IASB) to develop a common revenue standard for U.S. GAAP and International Financial Reporting Standards (IFRS). The core principal of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance in ASU 2014-09 describes a 5-step process entities can apply to achieve the core principle of revenue recognition and requires disclosures sufficient to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers and the significant judgments used in determining that information. The amendments in ASU 2014-9 are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period and early application is not allowed. The adoption of ASU 2014-9 is not expected to have a significant impact on the Company's financial statements.

FASB ASU No. 2015-10, Technical Corrections and Improvements. The amendments in ASU 2015-10 represent changes to clarify the Codification, correct unintended application of guidance, or make minor improvements to the Codification that are not expected to have significant effect on current accounting practice or create a significant administrative cost to most entities. The amendments that require transition guidance are effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2015. The adoption of ASU 2015-10 is not expected to have a significant impact on the Company's financial statements.

Income taxes

Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion, or all, of the deferred tax asset will not be realized. In assessing the realization of deferred tax assets, management evaluates both positive and negative evidence, including the existence of any cumulative losses in the current year and the prior two years, the amount of taxes paid in available carry-back years, the forecasts of future income, applicable tax planning strategies, and assessments of current and future economic and business conditions. This analysis is updated quarterly and adjusted as necessary.

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Income Taxes

6 Months Ended

Jun. 30, 2015

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The Company and its subsidiaries are subject to U.S. federal income tax, as well as state income taxes.  The Company had total unrecognized tax benefits of $1.8 million and $1.8 million at June 30, 2015 and December 31, 2014, respectively, that relate primarily to uncertainties in California enterprise zone loan interest deductions.

Management believes it is reasonably possible that the unrecognized tax benefits may decrease by approximately $200 thousand in the next twelve months.

The statute of limitations related to the consolidated Federal income tax returns is closed for all tax years up to and including 2009. The expiration of the statute of limitations related to the various state income and franchise tax returns varies by state. The Company is currently under examination by the Internal Revenue Service (IRS) for the 2011 tax year and by the California Franchise Tax Board (FTB) for the 2009 and 2010 tax years. While the outcome of the examinations is unknown, the Company expects no material adjustments. The Company recognizes interest and penalties related to income tax matters in income tax expense.  The Company recorded approximately $125 thousand and $96 thousand for accrued interest and penalties at June 30, 2015 and December 31, 2014, respectively.

Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion, or all, of the deferred tax asset will not be realized. In assessing the realization of deferred tax assets, management evaluates both positive and negative evidence, including the existence of any cumulative losses in the current year and the prior two years, the amount of taxes paid in available carry-back years, the forecasts of future income, applicable tax planning strategies, and assessments of current and future economic and business conditions. This analysis is updated quarterly and adjusted as necessary. Based on the analysis, the Company has determined that a valuation allowance for deferred tax assets was not required as of June 30, 2015.

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Borrowings

6 Months Ended

Jun. 30, 2015

Debt Disclosure [Abstract]

Borrowings

Borrowings

The Company maintains a secured credit facility with the FHLB against which the Bank may take advances. The borrowing capacity is limited to the lower of 30% of the Bank’s total assets or the Bank’s collateral capacity, which was $2.23 billion at June 30, 2015 and $2.17 billion at December 31, 2014. The terms of this credit facility require the Company to pledge eligible collateral with the FHLB equal to at least 100% of outstanding advances.

At June 30, 2015 and December 31, 2014, real estate secured loans with a carrying amount of approximately $2.96 billion and $2.89 billion, respectively, were pledged as collateral for borrowings from the FHLB. At June 30, 2015 and December 31, 2014, other than FHLB stock, no securities are pledged as collateral for borrowings from the FHLB.

At June 30, 2015 and December 31, 2014, FHLB advances were $580.8 million and $481.0 million, respectively, had a weighted average interest rate of 1.05% and 1.09%, respectively, and had various maturities through June 2020. At June 30, 2015 and December 31, 2014, $20.8 million and $21.0 million, respectively, of the advances were putable advances with various putable dates and strike prices. The stated rate of FHLB advances as of June 30, 2015 ranged between 0.21% and 2.02%. At June 30, 2015, the Company had a remaining borrowing capacity of $1.65 billion.

At June 30, 2015, the contractual maturities for FHLB advances were as follows:

	Contractual Maturities		Maturity/ Put Date
	(In thousands)
Due within one year	$	165,000	$	185,785
Due after one year through five years	415,785		395,000
	$	580,785	$	580,785

In addition, as a member of the FRB system, the Bank may also borrow from the FRB of San Francisco. The maximum amount that the Bank may borrow from the FRB’s discount window is up to 95% of the outstanding principal balance of the qualifying loans and the fair value of the securities that are pledged. At June 30, 2015, the outstanding principal balance of the qualifying loans was $697.7 million, and the collateral value of investment securities was $1.3 million. There were no borrowings outstanding against this line as of June 30, 2015 and December 31, 2014.

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Subordinated Debentures - Summary of Trust Preferred Securities and Debentures (Details) - USD ($)		Jun. 30, 2015	Dec. 31, 2014
Subordinated Borrowing [Line Items]
Carrying Value of Subordinated Debentures Amount		$ 42,241,000	$ 42,158,000
Nara Capital Trust III
Subordinated Borrowing [Line Items]
Initial Rate		3.44%
Nara Statutory Trust IV
Subordinated Borrowing [Line Items]
Initial Rate		3.13%
Nara Statutory Trust V
Subordinated Borrowing [Line Items]
Initial Rate		3.23%
Nara Statutory Trust VI
Subordinated Borrowing [Line Items]
Initial Rate		1.94%
Center Capital Trust I
Subordinated Borrowing [Line Items]
Initial Rate	[1]	3.13%
Trust Preferred Security Amount
Subordinated Borrowing [Line Items]
Trust Preferred Security Amount		$ 46,000,000
Trust Preferred Security Amount | Nara Capital Trust III
Subordinated Borrowing [Line Items]
Trust Preferred Security Amount		5,000,000
Trust Preferred Security Amount | Nara Statutory Trust IV
Subordinated Borrowing [Line Items]
Trust Preferred Security Amount		5,000,000
Trust Preferred Security Amount | Nara Statutory Trust V
Subordinated Borrowing [Line Items]
Trust Preferred Security Amount		10,000,000
Trust Preferred Security Amount | Nara Statutory Trust VI
Subordinated Borrowing [Line Items]
Trust Preferred Security Amount		8,000,000
Trust Preferred Security Amount | Center Capital Trust I
Subordinated Borrowing [Line Items]
Trust Preferred Security Amount	[1]	18,000,000
Subordinated Debentures Amount
Subordinated Borrowing [Line Items]
Carrying Value of Subordinated Debentures Amount		42,241,000
Subordinated Debentures Amount | Nara Capital Trust III
Subordinated Borrowing [Line Items]
Carrying Value of Subordinated Debentures Amount		5,155,000
Subordinated Debentures Amount | Nara Statutory Trust IV
Subordinated Borrowing [Line Items]
Carrying Value of Subordinated Debentures Amount		5,155,000
Subordinated Debentures Amount | Nara Statutory Trust V
Subordinated Borrowing [Line Items]
Carrying Value of Subordinated Debentures Amount		10,310,000
Subordinated Debentures Amount | Nara Statutory Trust VI
Subordinated Borrowing [Line Items]
Carrying Value of Subordinated Debentures Amount		8,248,000
Subordinated Debentures Amount | Center Capital Trust I
Subordinated Borrowing [Line Items]
Carrying Value of Subordinated Debentures Amount	[1]	$ 13,373,000

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Securities Available for Sale

6 Months Ended

Jun. 30, 2015

Available-for-sale Securities [Abstract]

Securities Available for Sale

Securities Available for Sale

The following is a summary of securities available for sale as of the dates indicated:

	At June 30, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(In thousands)
Debt securities:
U.S. Government agency and U.S. Government sponsored enterprises
Collateralized mortgage obligations	$	363,759	$	1,774	$	(3,380	)	$	362,153
Mortgage-backed securities	450,974		4,211		(2,858		)	452,327
Trust preferred securities	4,538		—		(575		)	3,963
Municipal bonds	39,672		438		(441		)	39,669
Total debt securities	858,943		6,423		(7,254		)	858,112
Mutual funds	17,425		—		(132		)	17,293
	$	876,368	$	6,423	$	(7,386	)	$	875,405
	At December 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(In thousands)
Debt securities:
U.S. Government agency and U.S. Government sponsored enterprises
Collateralized mortgage obligations	$	304,947	$	1,376	$	(3,549	)	$	302,774
Mortgage-backed securities	460,487		6,528		(1,526		)	465,489
Trust preferred securities	4,531		—		(544		)	3,987
Municipal bonds	6,487		443		—			6,930
Total debt securities	776,452		8,347		(5,619		)	779,180
Mutual funds	17,425		—		(82		)	17,343
	$	793,877	$	8,347	$	(5,701	)	$	796,523

As of June 30, 2015 and December 31, 2014, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of stockholders' equity.

For the three months ended June 30, 2015 and 2014, $8.4 million of unrealized losses and $6.7 million of unrealized gains, respectively, were included in accumulated other comprehensive loss. For the six months ended June 30, 2015 and 2014, $3.2 million of unrealized losses and $17.8 million of unrealized gains, respectively, were included in accumulated other comprehensive loss. There were no gains or losses reclassified out of accumulated other comprehensive loss for the three months ended June 30, 2015 and 2014. A total of $424 thousand and $0 of net gains on sales of securities were reclassified out of accumulated other comprehensive loss into earnings for the six months ended June 30, 2015 and 2014, respectively.

The proceeds from sales of securities and the associated gross gains and losses recorded in earnings are listed below:

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
	(In thousands)
Proceeds	$	—	$	—	$	22,510	$	—
Gross gains	—		—		424		—
Gross losses	—		—		—		—

The amortized cost and estimated fair value of debt securities at June 30, 2015, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.

	Amortized Cost		Estimated Fair Value
	(In thousands)
Available for sale:
Due within one year	$	340	$	340
Due after one year through five years	882		959
Due after five years through ten years	23,894		24,024
Due after ten years	19,094		18,309
U.S. Government agency and U.S. Government sponsored enterprises
Collateralized mortgage obligations	363,759		362,153
Mortgage-backed securities	450,974		452,327
Mutual funds	17,425		17,293
	$	876,368	$	875,405

Securities with carrying values of approximately $339.1 million and $366.2 million at June 30, 2015 and December 31, 2014, respectively, were pledged to secure public deposits, various borrowings and for other purposes as required or permitted by law.

The following tables show our investments’ gross unrealized losses and estimated fair value, aggregated by investment category and the length of time that the individual securities have been in a continuous unrealized loss position as of the dates indicated.

	As of June 30, 2015
	Less than 12 months						12 months or longer						Total
Description of Securities	Number of Securities	Fair Value		Gross Unrealized Losses			Number of Securities	Fair Value		Gross Unrealized Losses			Number of Securities	Fair Value		Gross Unrealized Losses
	(In thousands)
Collateralized mortgage obligations*	12	$	102,215	$	(1,000	)	9	$	84,821	$	(2,380	)	21	$	187,036	$	(3,380	)
Mortgage-backed securities*	20	182,162		(1,236		)	3	28,929		(1,622		)	23	211,091		(2,858		)
Trust preferred securities	—	—		—			1	3,963		(575		)	1	3,963		(575		)
Municipal bonds	63	29,867		(441		)	—	—		—			63	29,867		(441		)
Mutual funds	1	13,293		(132		)	—	—		—			1	13,293		(132		)
	96	$	327,537	$	(2,809	)	13	$	117,713	$	(4,577	)	109	$	445,250	$	(7,386	)

* Investments in U.S. Government agency and U.S. Government sponsored enterprises

	As of December 31, 2014
	Less than 12 months						12 months or longer						Total
Description of Securities	Number of Securities	Fair Value		Gross Unrealized Losses			Number of Securities	Fair Value		Gross Unrealized Losses			Number of Securities	Fair Value		Gross Unrealized Losses
	(In thousands)
Collateralized mortgage obligations*	7	$	71,189	$	(507	)	13	$	133,563	$	(3,042	)	20	$	204,752	$	(3,549	)
Mortgage-backed securities*	7	38,133		(139		)	6	62,036		(1,387		)	13	100,169		(1,526		)
Trust Preferred securities	—	—		—			1	3,988		(544		)	1	3,988		(544		)
Mutual funds	—	—		—			1	13,343		(82		)	1	13,343		(82		)
	14	$	109,322	$	(646	)	21	$	212,930	$	(5,055	)	35	$	322,252	$	(5,701	)

* Investments in U.S. Government agency and U.S. Government sponsored enterprises

The Company evaluates securities for other-than-temporary-impairment ("OTTI") on at least a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to the financial condition and near-term prospects of the issuer, the length of time and the extent to which the fair values of the securities have been less than the cost of the securities, and management's intention to sell, or whether it is more likely than not that management will be required to sell a security in an unrealized loss position before recovery of its amortized cost basis. In analyzing an issuer’s financial condition, the Company considers, among other considerations, whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuer’s financial condition.

The Company has certain collateralized mortgage obligations, mortgage-backed securities and trust preferred securities that were in a continuous unrealized loss position for twelve months or longer as of June 30, 2015. The trust preferred securities at June 30, 2015 had an amortized cost of $4.5 million and an unrealized loss of $575 thousand at June 30, 2015. The trust preferred securities are scheduled to mature in May 2047. These securities were rated investment grade and there were no credit quality concerns with the obligor. The collateralized mortgage obligations and mortgage-backed securities in a continuous loss position for twelve months or longer had an unrealized loss of $2.4 million and $1.6 million, respectively at June 30, 2015. These securities were issued by U.S. Government agency and U.S. Government sponsored enterprises and have high credit ratings of "AA" grade or better. Interest on the trust preferred securities and the U.S. Government agency and U.S. Government sponsored enterprise investments have been paid as agreed, and management believes this will continue in the future and that the securities will be repaid in full as scheduled. The market value declines for these securities were primarily due to movements in interest rates and are not reflective of management’s expectations of the Company's ability to fully recover these investments, which may be at maturity. For these reasons, no OTTI was recognized on the trust preferred securities and the U.S. Government agency and U.S. Government sponsored collateralized mortgage obligations and mortgage-backed securities that are in an unrealized loss position at June 30, 2015.

The Company considers the losses on the investments in unrealized loss positions at June 30, 2015 to be temporary based on: 1) the likelihood of recovery; 2) the information relative to the extent and duration of the decline in market value; and 3) the Company’s intention not to sell, and management's determination that it is more likely than not that the Company will not be required to sell a security in an unrealized loss position before recovery of its amortized cost basis.

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Loans Receivable and Allowance for Loan Losses

6 Months Ended

Jun. 30, 2015

Receivables [Abstract]

Loans Receivable and Allowance for Loan Losses

Loans Receivable and Allowance for Loan Losses

The following is a summary of loans receivable by major category:

	June 30, 2015			December 31, 2014
	(In thousands)
Loan portfolio composition
Real estate loans:
Residential	$	36,706		$	21,415
Commercial & industrial	4,503,794			4,324,349
Construction	104,901			94,086
Total real estate loans	4,645,401			4,439,850
Commercial business	970,787			903,621
Trade finance	114,927			134,762
Consumer and other	87,707			89,849
Total loans outstanding	5,818,822			5,568,082
Less: deferred loan fees	(2,998		)	(2,890		)
Loans receivable	5,815,824			5,565,192
Less: allowance for loan losses	(70,118		)	(67,758		)
Loans receivable, net of allowance for loan losses	$	5,745,706		$	5,497,434

The loan portfolio is made up of four segments: real estate loans, commercial business, trade finance and consumer and other. These segments are further segregated between loans accounted for under the amortized cost method ("Legacy Loans") and acquired loans that were originally recorded at fair value with no carryover of the related pre-acquisition allowance for loan losses ("Acquired Loans"). Acquired Loans are further segregated between Acquired Credit Impaired Loans (loans with credit deterioration on the acquisition date and accounted for under ASC 310-30, or "ACILs") and Acquired Performing Loans (loans that were pass graded on the acquisition date and the fair value adjustment is amortized over the contractual life under ASC 310-20, or "APLs").

The following table presents changes in the accretable discount on the ACILs for the three and six months ended June 30, 2015 and 2014:

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(In thousands)
Balance at beginning of period	$	22,645		$	32,583		$	24,051		$	47,398
Accretion	(3,096		)	(4,197		)	(6,232		)	(9,064		)
Changes in expected cash flows	1,840			(102		)	3,570			(10,050		)
Balance at end of period	$	21,389		$	28,284		$	21,389		$	28,284

On the acquisition date, the amount by which the undiscounted expected cash flows exceed the estimated fair value of the ACILs is the “accretable yield.” The accretable yield is then measured at each financial reporting date and represents the difference between the remaining undiscounted expected cash flows and the current carrying value of the loans. The accretable yield will change from period to period due to the following: 1) estimates of the remaining life of acquired loans will affect the amount of future interest income; 2) indices for variable rates of interest on ACILs may change; and 3) estimates of the amount of the contractual principal and interest that will not be collected (nonaccretable difference) may change.

The following tables detail the activity in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2015 and 2014:

	Legacy												Acquired											Total
	Real Estate			Commercial Business			Trade Finance			Consumer and Other			Real Estate			Commercial Business			Trade Finance		Consumer and Other
	(In thousands)
Three Months Ended June 30, 2015
Balance, beginning of period	$	35,772		$	16,168		$	3,041		$	416		$	13,724		$	422		$	—	$	51		$	69,594
Provision (credit) for loan losses	1,224			(751		)	(522		)	521			280			240			—		8			1,000
Loans charged off	(61		)	(448		)	(759		)	—			(13		)	(170		)	—		—			(1,451		)
Recoveries of charge offs	61			809			—			92			—			8			—		5			975
Balance, end of period	$	36,996		$	15,778		$	1,760		$	1,029		$	13,991		$	500		$	—	$	64		$	70,118
Six Months Ended June 30, 2015
Balance, beginning of period	$	38,775		$	15,986		$	3,456		$	427		$	8,573		$	485		$	—	$	56		$	67,758
Provision (credit) for loan losses	(2,398		)	(773		)	(709		)	523			5,590			262			—		5			2,500
Loans charged off	(242		)	(899		)	(987		)	(15		)	(172		)	(257		)	—		(4		)	(2,576		)
Recoveries of charge offs	861			1,464			—			94			0			10			—		7			2,436
Balance, end of period	$	36,996		$	15,778		$	1,760		$	1,029		$	13,991		$	500		$	—	$	64		$	70,118

	Legacy												Acquired											Total
	Real Estate			Commercial Business			Trade Finance			Consumer and Other			Real Estate			Commercial Business			Trade Finance		Consumer and Other
	(In thousands)
Three Months Ended June 30, 2014
Balance, beginning of period	$	38,586		$	16,208		$	2,944		$	467		$	6,838		$	593		$	—	$	63		$	65,699
Provision (credit) for loan losses	1,066			(336		)	1,624			(69		)	622			88			—		1			2,996
Loans charged off	(726		)	(1,794		)	—			(18		)	(188		)	(45		)	—		—			(2,771		)
Recoveries of charge offs	132			581			—			211			17			3			—		2			946
Balance, end of period	$	39,058		$	14,659		$	4,568		$	591		$	7,289		$	639		$	—	$	66		$	66,870
Six Months Ended June 30, 2014
Balance, beginning of period	$	40,068		$	16,796		$	2,653		$	461		$	6,482		$	796		$	—	$	64		$	67,320
Provision (credit) for loan losses	(348		)	2,211			1,972			(62		)	1,073			1,099			—		77			6,022
Loans charged off	(813		)	(5,519		)	(57		)	(19		)	(283		)	(1,265		)	—		(78		)	(8,034		)
Recoveries of charge offs	151			1,171			—			211			17			9			—		3			1,562
Balance, end of period	$	39,058		$	14,659		$	4,568		$	591		$	7,289		$	639		$	—	$	66		$	66,870

The following tables disaggregate the allowance for loan losses and the loans outstanding by impairment methodology at June 30, 2015 and December 31, 2014:

	June 30, 2015
	Legacy								Acquired								Total
	Real Estate		Commercial Business		Trade Finance		Consumer and Other		Real Estate		Commercial Business		Trade Finance		Consumer and Other
	(In thousands)
Allowance for loan losses:
Individually evaluated for impairment	$	1,783	$	4,383	$	320	$	615	$	591	$	373	$	—	$	—	$	8,065
Collectively evaluated for impairment	35,213		11,395		1,440		414		753		127		—		64		49,406
ACILs	—		—		—		—		12,647		—		—		—		12,647
Total	$	36,996	$	15,778	$	1,760	$	1,029	$	13,991	$	500	$	—	$	64	$	70,118
Loans outstanding:
Individually evaluated for impairment	$	54,022	$	36,403	$	6,670	$	1,067	$	18,323	$	1,641	$	—	$	572	$	118,698
Collectively evaluated for impairment	4,171,701		875,857		108,257		41,031		313,877		30,425		—		23,323		5,564,471
ACILs	—		—		—		—		87,478		26,461		—		21,714		135,653
Total	$	4,225,723	$	912,260	$	114,927	$	42,098	$	419,678	$	58,527	$	—	$	45,609	$	5,818,822

	December 31, 2014
	Legacy								Acquired								Total
	Real Estate		Commercial Business		Trade Finance		Consumer and Other		Real Estate		Commercial Business		Trade Finance		Consumer and Other
	(In thousands)
Allowance for loan losses:
Individually evaluated for impairment	$	1,940	$	6,929	$	1,312	$	—	$	434	$	307	$	—	$	—	$	10,922
Collectively evaluated for impairment	36,835		9,057		2,144		427		792		178		—		56		49,489
ACILs	—		—		—		—		7,347		—		—		—		7,347
Total	$	38,775	$	15,986	$	3,456	$	427	$	8,573	$	485	$	—	$	56	$	67,758
Loans outstanding:
Individually evaluated for impairment	$	57,506	$	40,829	$	5,936	$	465	$	20,035	$	1,778	$	—	$	596	$	127,145
Collectively evaluated for impairment	3,864,289		784,407		128,826		37,312		397,147		43,460		—		25,859		5,281,300
ACILs	—		—		—		—		100,873		33,147		—		25,617		159,637
Total	$	3,921,795	$	825,236	$	134,762	$	37,777	$	518,055	$	78,385	$	—	$	52,072	$	5,568,082

As of June 30, 2015 and December 31, 2014, the liability for unfunded commitments was $1.4 million and $1.6 million, respectively. For the three months ended June 30, 2015 and 2014, the recognized credit or provision for credit losses related to unfunded commitments was $95 thousand and $547 thousand, respectively. For the six months ended June 30, 2015 and 2014, the recognized (benefit) provision for credit losses related to unfunded commitments was $(146) thousand and $588 thousand, respectively.

The recorded investment in individually impaired loans was as follows:

	June 30, 2015			December 31, 2014
	(In thousands)
With allocated allowance
Without charge off	$	65,343		$	67,352
With charge off	1,184			6,582
With no allocated allowance
Without charge off	48,001			46,885
With charge off	4,170			6,326
Allowance on impaired loans	(8,065		)	(10,922		)
Impaired loans, net of allowance	$	110,633		$	116,223

The following tables detail impaired loans (Legacy and APLs that became impaired subsequent to being acquired) as of June 30, 2015 and December 31, 2014 and for the three and six months ended June 30, 2015 and 2014 and for the year ended December 31, 2014. Loans with no related allowance for loan losses are believed by management to have adequate collateral securing their carrying value.

	As of June 30, 2015						For the Six Months Ended June 30, 2015				For the Three Months Ended June 30, 2015
Total Impaired Loans	Recorded Investment*		Unpaid Contractual Principal Balance		Related Allowance		Average Recorded Investment*		Interest Income Recognized during Impairment		Average Recorded Investment*		Interest Income Recognized during Impairment
	(In thousands)
With related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	4,419		4,615		243		4,411		88		4,165		44
Hotel & motel	11,416		11,422		326		12,134		258		11,500		129
Gas station & car wash	1,719		1,928		341		1,479		29		1,266		15
Mixed use	481		497		9		481				481
Industrial & warehouse	4,434		4,434		12		4,489		84		5,678		42
Other	8,779		9,665		1,443		8,823		176		8,344		88
Real estate—construction	—		—		—		—		—		—		—
Commercial business	29,648		29,961		4,756		32,453		579		30,030		286
Trade finance	5,016		5,016		320		4,678		108		4,990		54
Consumer and other	615		615		615		209		—		314		—
	$	66,527	$	68,153	$	8,065	$	69,157	$	1,322	$	66,768	$	658
With no related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	9,197		10,932		—		10,260		167		9,536		84
Hotel & motel	6,522		8,600		—		6,122		7		6,187		3
Gas station & car wash	3,682		6,205		—		3,391		22		3,739		11
Mixed use	3,482		3,876		—		2,356		21		2,740		10
Industrial & warehouse	9,264		12,932		—		11,033		154		9,362		77
Other	8,950		10,675		—		8,730		77		9,554		40
Real estate—construction	—		—		—		1,000		—		740		—
Commercial business	8,395		10,562		—		8,104		81		9,502		41
Trade finance	1,654		5,000		—		1,643		—		1,524		—
Consumer and other	1,025		1,094		—		1,064		13		1,066		7
	$	52,171	$	69,876	$	—	$	53,703	$	542	$	53,950	$	273
Total	$	118,698	$	138,029	$	8,065	$	122,860	$	1,864	$	120,718	$	931

* Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

	For the Six Months Ended June 30, 2014				For the Three Months Ended June 30, 2014
Total Impaired Loans	Average Recorded Investment*		Interest Income Recognized during Impairment		Average Recorded Investment*		Interest Income Recognized during Impairment
	(In thousands)
With related allowance:
Real estate—residential	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	5,238		46		4,198		27
Hotel & motel	11,771		266		11,696		133
Gas station & car wash	2,774		38		2,589		19
Mixed use	1,049		20		1,109		10
Industrial & warehouse	9,104		151		7,456		76
Other	9,353		166		8,898		82
Real estate—construction	—		—		—		—
Commercial business	30,875		594		28,981		310
Trade finance	6,526		99		6,990		51
Consumer and other	178		—		—		—
	$	76,868	$	1,380	$	71,917	$	708
With no related allowance:
Real estate—residential	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	6,875		124		8,300		62
Hotel & motel	6,480		—		6,468		—
Gas station & car wash	4,820		—		4,808		—
Mixed use	1,143		—		1,292		—
Industrial & warehouse	7,528		160		9,389		83
Other	4,401		56		5,828		30
Real estate—construction	1,606		42		1,596		21
Commercial business	9,345		138		11,296		75
Trade finance	453		—		634		—
Consumer and other	1,234		15		1,468		8
	$	43,885	$	535	$	51,079	$	279
Total	$	120,753	$	1,915	$	122,996	$	987

* Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

	As of June 30, 2015						For the Six Months Ended June 30, 2015				For the Three Months Ended June 30, 2015
Impaired APLs	Recorded Investment*		Unpaid Contractual Principal Balance		Related Allowance		Average Recorded Investment*		Interest Income Recognized during Impairment		Average Recorded Investment*		Interest Income Recognized during Impairment
	(In thousands)
With related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	2,579		2,568		185		2,278		74		2,591		37
Hotel & motel	—		—		—		—		—		—		—
Gas station & car wash	1,719		1,928		341		1,398		29		1,215		15
Mixed use	352		348		2		352		—		352		—
Industrial & warehouse	—		—		—		120		—		180		—
Other	1,288		1,575		62		1,123		8		803		4
Real estate—construction	—		—		—		—		—		—		—
Commercial business	736		884		373		721		9		697		4
Trade finance	—		—		—		—		—		—		—
Consumer and other	—		—		—		1		—		1		—
	$	6,674	$	7,303	$	963	$	5,993	$	120	$	5,839	$	60
With no related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	1,370		1,479		—		2,037		7		1,476		3
Hotel & motel	5,730		7,779		—		5,613		7		5,624		3
Gas station & car wash	—		—		—		347		—		516		—
Mixed use	279		444		—		167		2		251		1
Industrial & warehouse	1,125		1,221		—		1,362		2		1,174		1
Other	3,881		4,906		—		4,287		21		4,426		10
Real estate—construction	—		—		—		—		—		—		—
Commercial business	904		1,664		—		982		33		968		17
Trade finance	—		—		—		—		—		—		—
Consumer and other	573		642		—		606		4		611		2
	$	13,862	$	18,135	$	—	$	15,401	$	76	$	15,046	$	37
Total	$	20,536	$	25,438	$	963	$	21,394	$	196	$	20,885	$	97

* Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

	For the Six Months Ended June 30, 2014				For the Three Months Ended June 30, 2014
Impaired APLs	Average Recorded Investment*		Interest Income Recognized during Impairment		Average Recorded Investment*		Interest Income Recognized during Impairment
	(In thousands)
With related allowance:
Real estate—residential	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	264		—		201		—
Hotel & motel	—		—		—		—
Gas station & car wash	1,791		30		2,289		15
Mixed use	118		—		177		—
Industrial & warehouse	1,709		—		—		—
Other	1,054		4		899		2
Real estate—construction	—		—		—		—
Commercial business	1,240		4		868		3
Trade finance	—		—		—		—
Consumer and other	—		—		—		—
	$	6,176	$	38	$	4,434	$	20
With no related allowance:
Real estate—residential	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	1,549		15		1,702		7
Hotel & motel	6,379		—		6,347		—
Gas station & car wash	1,029		—		736		—
Mixed use	307		—		460		—
Industrial & warehouse	3,281		5		3,981		2
Other	3,396		20		4,526		12
Real estate—construction	—		—		—		—
Commercial business	1,505		10		1,853		7
Trade finance	—		—		—		—
Consumer and other	887		4		947		2
	$	18,333	$	54	$	20,552	$	30
Total	$	24,509	$	92	$	24,986	$	50

* Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

	As of December 31, 2014						For the Year Ended December 31, 2014
Total Impaired Loans	Recorded Investment*		Unpaid Contractual Principal Balance		Related Allowance		Average Recorded Investment*		Interest Income Recognized during Impairment
	(In thousands)
With related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	4,902		5,288		390		5,205		127
Hotel & motel	13,401		14,548		469		12,053		532
Gas station & car wash	1,904		3,507		379		2,440		60
Mixed use	482		497		13		823		—
Industrial & warehouse	2,111		2,126		13		7,309		119
Other	9,781		10,389		1,110		9,709		355
Real estate—construction	—		—		—		—		—
Commercial business	37,300		38,730		7,236		32,798		1,502
Trade finance	4,053		11,310		1,312		6,647		—
Consumer and other	—		—		—		114		—
	$	73,934	$	86,395	$	10,922	$	77,098	$	2,695
With no related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	11,708		13,492		—		8,462		358
Hotel & motel	5,992		8,728		—		6,655		—
Gas station & car wash	2,693		4,065		—		4,139		44
Mixed use	1,589		1,697		—		1,415		39
Industrial & warehouse	14,374		17,940		—		9,311		494
Other	7,083		9,886		—		5,118		93
Real estate—construction	1,521		1,545		—		1,583		—
Commercial business	5,307		6,880		—		8,349		50
Trade finance	1,883		5,000		—		724		—
Consumer and other	1,061		1,118		—		1,168		28
	$	53,211	$	70,351	$	—	$	46,924	$	1,106
Total	$	127,145	$	156,746	$	10,922	$	124,022	$	3,801

* Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

	As of December 31, 2014						For the Year Ended December 31, 2014
Impaired APLs	Recorded Investment*		Unpaid Contractual Principal Balance		Related Allowance		Average Recorded Investment*		Interest Income Recognized during Impairment
	(In thousands)
With related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	1,653		1,638		36		838		97
Hotel & motel	—		—		—		—		—
Gas station & car wash	1,762		1,953		379		1,783		60
Mixed use	352		348		2		212		—
Industrial & warehouse	—		—		—		1,026		—
Other	1,763		2,016		17		1,134		5
Real estate—construction	—		—		—		—		—
Commercial business	769		928		307		1,090		15
Trade finance	—		—		—		—		—
Consumer and other	—		—		—		—		—
	$	6,299	$	6,883	$	741	$	6,083	$	177
With no related allowance:
Real estate—residential	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	3,158		3,376		—		1,869		27
Hotel & motel	5,591		7,493		—		6,067		—
Gas station & car wash	9		297		—		621		—
Mixed use	—		—		—		275		—
Industrial & warehouse	1,737		1,954		—		2,673		39
Other	4,009		5,174		—		3,798		41
Real estate—construction	—		—		—		—		—
Commercial business	1,009		1,758		—		1,321		4
Trade finance	—		—		—		—		—
Consumer and other	596		652		—		772		8
	$	16,109	$	20,704	$	—	$	17,396	$	119
Total	$	22,408	$	27,587	$	741	$	23,479	$	296

* Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

Generally, loans are placed on nonaccrual status if principal or interest payments become 90 days past due and/or management deems the collectibility of the principal and/or interest to be in question, as well as when required by regulatory requirements. Loans to a customer whose financial condition has deteriorated are considered for nonaccrual status whether or not the loan is 90 days or more past due. Generally, payments received on nonaccrual loans are recorded as principal reductions. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

The following tables present the aging of past due loans as of June 30, 2015 and December 31, 2014 by class of loans:

	As of June 30, 2015
	Past Due and Accruing
	30-59 Days Past Due		60-89 Days Past Due		90 or More Days Past Due		Total		Nonaccrual Loans (2)		Total Delinquent Loans
	(In thousands)
Legacy Loans:
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	901		225		—		1,126		2,558		3,684
Hotel & motel	—		—		—		—		945		945
Gas station & car wash	—		567		333		900		2,971		3,871
Mixed use	—		434		—		434		2,552		2,986
Industrial & warehouse	—		113		—		113		1,220		1,333
Other	—		—		—		—		2,831		2,831
Real estate—construction	—		—		—		—		—		—
Commercial business	594		207		—		801		9,431		10,232
Trade finance	1,933		—		—		1,933		1,954		3,887
Consumer and other	29		—		—		29		870		899
Subtotal	$	3,457	$	1,546	$	333	$	5,336	$	25,332	$	30,668
Acquired Loans: (1)
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	1,442		68		—		1,510		1,334		2,844
Hotel & motel	—		286		—		286		5,448		5,734
Gas station & car wash	—		—		—		—		695		695
Mixed use	—		47		—		47		567		614
Industrial & warehouse	—		—		—		—		1,053		1,053
Other	—		—		—		—		3,748		3,748
Real estate—construction	105		228		—		333		646		979
Commercial business	—		—		—		—		—		—
Trade finance	—		—		—		—		—		—
Consumer and other	6		—		—		6		858		864
Subtotal	$	1,553	$	629	$	—	$	2,182	$	14,349	$	16,531
TOTAL	$	5,010	$	2,175	$	333	$	7,518	$	39,681	$	47,199

⁽¹⁾  The Acquired Loans exclude ACILs.

⁽²⁾  Nonaccrual loans exclude the guaranteed portion of delinquent SBA loans that are in liquidation totaling $22.6 million.

	As of December 31, 2014
	Past Due and Accruing
	30-59 Days Past Due		60-89 Days Past Due		90 or More Days Past Due		Total		Nonaccrual Loans (2)		Total Delinquent Loans
	(In Thousands)
Legacy Loans:
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	201		351		—		552		4,586		5,138
Hotel & motel	299		—		—		299		2,336		2,635
Gas station & car wash	—		—		—		—		2,105		2,105
Mixed use	437		—		—		437		930		1,367
Industrial & warehouse	—		208		—		208		2,335		2,543
Other	455		524		—		979		2,150		3,129
Real estate—construction	—		—		—		—		1,521		1,521
Commercial business	655		729		—		1,384		9,640		11,024
Trade finance	—		—		—		—		3,194		3,194
Consumer and other	36		—		—		36		18		54
Subtotal	$	2,083	$	1,812	$	—	$	3,895	$	28,815	$	32,710
Acquired Loans: (1)
Real estate—residential	$	—	$	—	$	—	$	—	$	—	$	—
Real estate—commercial
Retail	1,402		—		—		1,402		2,792		4,194
Hotel & motel	—		—		—		—		5,591		5,591
Gas station & car wash	—		—		—		—		736		736
Mixed use	345		—		—		345		352		697
Industrial & warehouse	—		—		361		361		1,185		1,546
Other	—		—		—		—		4,370		4,370
Real estate—construction	—		—		—		—		—		—
Commercial business	36		347		—		383		1,468		1,851
Trade finance	—		—		—		—		—		—
Consumer and other	23		90		—		113		1,044		1,157
Subtotal	$	1,806	$	437	$	361	$	2,604	$	17,538	$	20,142
TOTAL	$	3,889	$	2,249	$	361	$	6,499	$	46,353	$	52,852

⁽¹⁾  The Acquired Loans exclude ACILs.

⁽²⁾  Nonaccrual loans exclude guaranteed portion of delinquent SBA loans that are in liquidation totaling $28.9 million.

Loans accounted for under ASC 310-30 are generally considered accruing and performing loans and the accretable discount is accreted to interest income over the estimated life of the loan when cash flows are reasonably estimable. Accordingly, ACILs that are contractually past due are still considered to be accruing and performing loans. The loans may be classified as nonaccrual if the timing and amount of future cash flows is not reasonably estimable.

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, including, but not limited to, current financial information, historical payment experience, credit documentation, public information, and current economic trends. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis includes all non-homogeneous loans. This analysis is performed at least on a quarterly basis. The definitions for risk ratings are as follows:

• Pass: Loans that meet a preponderance or more of the Company's underwriting criteria and evidence an acceptable level of risk.

• Special Mention: Loans that have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date.

• Substandard: Loans that are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the repayment of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

• Doubtful/Loss: Loans that have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or repayment in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

The following tables present the risk rating for Legacy Loans and Acquired Loans as of June 30, 2015 and December 31, 2014 by class of loans:

	As of June 30, 2015
	Pass		Special Mention		Substandard		Doubtful/Loss		Total
	(In thousands)
Legacy Loans:
Real estate—residential	$	35,985	$	—	$	—	$	—	$	35,985
Real estate—commercial
Retail	975,319		23,326		14,022		—		1,012,667
Hotel & motel	889,763		113		6,929		—		896,805
Gas station & car wash	573,688		8,814		4,865		—		587,367
Mixed use	303,047		787		3,430		—		307,264
Industrial & warehouse	422,067		8,508		9,577		—		440,152
Other	796,285		29,621		14,676		—		840,582
Real estate—construction	104,901		—		—		—		104,901
Commercial business	853,739		20,092		38,219		210		912,260
Trade finance	93,430		11,458		10,039		—		114,927
Consumer and other	40,765		6		1,317		10		42,098
Subtotal	$	5,088,989	$	102,725	$	103,074	$	220	$	5,295,008
Acquired Loans:
Real estate—residential	$	436	$	285	$	—	$	—	$	721
Real estate—commercial
Retail	141,896		3,617		17,990		—		163,503
Hotel & motel	37,499		6,214		13,112		—		56,825
Gas station & car wash	25,251		381		7,089		—		32,721
Mixed use	18,681		11,626		2,825		—		33,132
Industrial & warehouse	45,691		1,237		10,694		—		57,622
Other	61,192		529		13,016		417		75,154
Real estate—construction	—		—		—		—		—
Commercial business	38,317		1,547		18,142		521		58,527
Trade finance	—		—		—		—		—
Consumer and other	35,686		1,634		7,394		895		45,609
Subtotal	$	404,649	$	27,070	$	90,262	$	1,833	$	523,814
Total	$	5,493,638	$	129,795	$	193,336	$	2,053	$	5,818,822

	As of December 31, 2014
	Pass		Special Mention		Substandard		Doubtful/Loss		Total
	(In thousands)
Legacy Loans:
Real estate—residential	$	20,586	$	—	$	—	$	—	$	20,586
Real estate—commercial
Retail	1,015,195		20,177		14,805		—		1,050,177
Hotel & motel	784,586		114		7,746		—		792,446
Gas station & car wash	553,901		—		8,857		—		562,758
Mixed use	288,409		1,147		2,187		—		291,743
Industrial & warehouse	347,805		9,181		12,313		—		369,299
Other	699,644		28,044		13,013		—		740,701
Real estate—construction	92,564		—		1,521		—		94,085
Commercial business	765,280		18,792		41,138		26		825,236
Trade finance	103,844		18,599		12,319		—		134,762
Consumer and other	37,256		38		470		13		37,777
Subtotal	$	4,709,070	$	96,092	$	114,369	$	39	$	4,919,570
Acquired Loans:
Real estate—residential	$	539	$	290	$	—	$	—	$	829
Real estate—commercial
Retail	157,485		3,531		25,469		—		186,485
Hotel & motel	69,236		3,889		9,241		—		82,366
Gas station & car wash	27,936		369		8,542		268		37,115
Mixed use	25,843		7,001		3,048		—		35,892
Industrial & warehouse	66,214		667		14,177		—		81,058
Other	76,956		2,076		15,242		36		94,310
Real estate—construction	—		—		—		—		—
Commercial business	48,270		6,331		22,721		1,063		78,385
Trade finance	—		—		—		—		—
Consumer and other	40,136		2,089		9,066		781		52,072
Subtotal	$	512,615	$	26,243	$	107,506	$	2,148	$	648,512
Total	$	5,221,685	$	122,335	$	221,875	$	2,187	$	5,568,082

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Reclassification to held for sale	(In thousands)
Real estate - Commercial	$	235	$	—	$	685	$	34
Consumer	1,088		—		1,088		—
Total	$	1,323	$	—	$	1,773	$	34

The adequacy of the allowance for loan losses is determined by management based upon an evaluation and review of the credit quality of the loan portfolio, consideration of historical loan loss experience, relevant internal and external factors that affect the collection of a loan, and other pertinent factors.

Migration analysis is a formula methodology derived from the Bank's actual historical net charge off experience for each loan class (type) pool and risk grade. The migration analysis ("Migration Analysis") is centered on the Bank's internal credit risk rating system. Management's internal loan review and external contracted credit review examinations are used to determine and validate loan risk grades. This credit review system takes into consideration factors such as: borrower's background and experience; historical and current financial condition; credit history and payment performance; economic conditions and their impact on various industries; type, fair value and volatility of the fair value of collateral; lien position; and the financial strength of any guarantors.

A general loan loss allowance is provided on loans not specifically identified as impaired (“non-impaired loans”). The Bank's general loan loss allowance has two components: quantitative and qualitative risk factors. The quantitative risk factors are based on a migration analysis methodology described above. The loans are classified by class and risk grade and the historical loss migration is tracked for the various classes. Loss experience is quantified for a specified period and then weighted to place more significance on the most recent loss history. That loss experience is then applied to the stratified portfolio at each quarter end. For ACILs, a general loan loss allowance is provided to the extent that there has been credit deterioration since the date of acquisition. 

Additionally, in order to systematically quantify the credit risk impact of other trends and changes within the loan portfolio, the Bank utilizes qualitative adjustments to the Migration Analysis within established parameters. The parameters for making adjustments are established under a Credit Risk Matrix that provides seven possible scenarios for each of the factors below. The matrix allows for up to three positive (Major, Moderate, and Minor), three negative (Major, Moderate, and Minor), and one neutral credit risk scenarios within each factor for each loan type pool. However, if information exists to warrant adjustment to the Migration Analysis, changes are made in accordance with the established parameters supported by narrative and/or statistical analysis. The Credit Risk Matrix and the nine possible scenarios enable the Bank to qualitatively adjust the Loss Migration Ratio by as much as 50 basis points in either direction (positive or negative) for each loan type pool. This matrix considers the following nine factors, which are patterned after the guidelines provided under the FFIEC Interagency Policy Statement on the Allowance for Loan and Lease Losses:

• Changes in lending policies and procedures, including underwriting standards and collection, charge off, and recovery practices;

• Changes in national and local economic and business conditions and developments, including the condition of various market segments;

• Changes in the nature and volume of the loan portfolio;

• Changes in the experience, ability and depth of lending management and staff;

• Changes in the trends of the volume and severity of past due loans, Classified Loans, nonaccrual loans, troubled debt restructurings and other loan modifications;

• Changes in the quality of our loan review system and the degree of oversight by the Directors;

• Changes in the value of underlying collateral for collateral-dependent loans;

• The existence and effect of any concentrations of credit and changes in the level of such concentrations; and

• The effect of external factors, such as competition and legal and regulatory requirements, on the level of estimated losses in our loan portfolio.

The Company also establishes specific loss allowances for loans that have identified potential credit risk conditions or circumstances related to a specific individual credit. The specific allowance amounts are determined by a method prescribed by FASB ASC 310-10-35-22, Measurement of Impairment. The loans identified as impaired will be accounted for in accordance with one of the three acceptable valuation methods: 1) the present value of future cash flows discounted at the loan's effective interest rate; 2) the loan's observable market price; or 3) the fair value of the collateral, if the loan is collateral dependent. For the collateral dependent impaired loans, management obtains a new appraisal to determine the amount of impairment as of the date that the loan became impaired. The appraisals are based on an “as is” valuation. To ensure that appraised values remain current, management either obtains updated appraisals every twelve months from a qualified independent appraiser or an internal evaluation of the collateral is performed by qualified personnel. If the third party market data indicates that the value of the collateral property has declined since the most recent valuation date, management adjusts the value of the property downward to reflect current market conditions. If the fair value of the collateral is less than the recorded amount of the loan, management recognizes impairment by creating or adjusting an existing valuation allowance with a corresponding charge to the provision for loan losses. If an impaired loan is expected to be collected through liquidation of the underlying collateral, the loan is deemed to be collateral dependent and the amount of impairment is charged off against the allowance for loan losses.

The Company considers a loan to be impaired when it is probable that not all amounts due (principal and interest) will be collectible in accordance with the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. The significance of payment delays and payment shortfalls is determined on a case-by-case basis by taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower's prior payment record and the amount of the shortfall in relation to the principal and interest owed.

For commercial business loans, real estate loans and certain consumer loans, management bases the measurement of loan impairment on the present value of the expected future cash flows, discounted at the loan's effective interest rate or on the fair value of the loan's collateral if the loan is collateral dependent. Management evaluates most consumer loans for impairment on a collective basis because these loans generally have smaller balances and are homogeneous in the underwriting of terms and conditions and in the type of collateral.

For ACILs, the allowance for loan losses is based upon expected cash flows for these loans. To the extent that a deterioration in borrower credit quality results in a decrease in expected cash flows subsequent to the acquisition of the loans, an allowance for loan losses would be established based on an estimate of future credit losses over the remaining life of the loans.

The following table presents loans by portfolio segment and impairment method at June 30, 2015 and December 31, 2014:

	As of June 30, 2015
	Real Estate— Residential			Real Estate— Commercial			Real Estate— Construction			Commercial Business			Trade Finance			Consumer and Other			Total
	(In thousands)
Impaired loans (gross carrying value)	$	—		$	72,345		$	—		$	38,044		$	6,670		$	1,639		$	118,698
Specific allowance	$	—		$	2,374		$	—		$	4,756		$	320		$	615		$	8,065
Loss coverage ratio	N/A			3.3		%	N/A			12.5		%	4.8		%	37.5		%	6.8		%
Non-impaired loans	$	36,706		$	4,431,449		$	104,901		$	932,743		$	108,257		$	86,068		$	5,700,124
General allowance	$	247		$	47,773		$	593		$	11,522		$	1,440		$	478		$	62,053
Loss coverage ratio	0.7		%	1.1		%	0.6		%	1.2		%	1.3		%	0.6		%	1.1		%
Total loans	$	36,706		$	4,503,794		$	104,901		$	970,787		$	114,927		$	87,707		$	5,818,822
Total allowance for loan losses	$	247		$	50,147		$	593		$	16,278		$	1,760		$	1,093		$	70,118
Loss coverage ratio	0.7		%	1.1		%	0.6		%	1.7		%	1.5		%	1.2		%	1.2		%

	As of December 31, 2014
	Real Estate— Residential			Real Estate— Commercial			Real Estate— Construction			Commercial Business			Trade Finance			Consumer and Other			Total
	(In thousands)
Impaired loans (gross carrying value)	$	—		$	76,020		$	1,521		$	42,607		$	5,936		$	1,061		$	127,145
Specific allowance	$	—		$	2,374		$	—		$	7,236		$	1,312		$	—		$	10,922
Loss coverage ratio	N/A			3.1		%	0.0		%	17.0		%	22.1		%	0.0		%	8.6		%
Non-impaired loans	$	21,415		$	4,248,329		$	92,565		$	861,014		$	128,826		$	88,788		$	5,440,937
General allowance	$	146		$	44,161		$	667		$	9,235		$	2,144		$	483		$	56,836
Loss coverage ratio	0.7		%	1.0		%	0.7		%	1.1		%	1.7		%	0.5		%	1.0		%
Total loans	$	21,415		$	4,324,349		$	94,086		$	903,621		$	134,762		$	89,849		$	5,568,082
Total allowance for loan losses	$	146		$	46,535		$	667		$	16,471		$	3,456		$	483		$	67,758
Loss coverage ratio	0.7		%	1.1		%	0.7		%	1.8		%	2.6		%	0.5		%	1.2		%

Under certain circumstances, the Company provides borrowers relief through loan modifications. These modifications are either temporary in nature (“temporary modifications”) or are more substantive. At June 30, 2015, total modified loans were $75.4 million, compared to $76.1 million at December 31, 2014. The temporary modifications generally consist of interest only payments for a three to six month period, whereby principal payments are deferred. At the end of the modification period, the remaining principal balance is re-amortized based on the original maturity date. Loans subject to temporary modifications are generally downgraded to Special Mention or Substandard. At the end of the modification period, the loan either 1) returns to the original contractual terms; 2) is further modified and accounted for as a troubled debt restructuring in accordance with ASC 310-10-35; or 3) is disposed of through foreclosure or liquidation.

Troubled Debt Restructurings (“TDRs”) of loans are defined by ASC 310-40, “Troubled Debt Restructurings by Creditors” and ASC 470-60, “Troubled Debt Restructurings by Debtors” and evaluated for impairment in accordance with ASC 310-10-35. The concessions may be granted in various forms, including reduction in the stated interest rate, reduction in the amount of principal amortization, forgiveness of a portion of a loan balance or accrued interest, or extension of the maturity date. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed on the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Bank's internal underwriting policy.

A summary of TDRs on accrual and nonaccrual status by type of concession as of June 30, 2015 and December 31, 2014 is presented below:

	As of June 30, 2015
	TDRs on Accrual								TDRs on Nonaccrual								Total
	Real Estate— Commercial		Commercial Business		Other		Total		Real Estate— Commercial		Commercial Business		Other		Total
	(In thousands)
Payment concession	$	11,885	$	465	$	—	$	12,350	$	3,888	$	4,454	$	—	$	8,342	$	20,692
Maturity / Amortization concession	3,568		18,766		4,066		26,400		1,250		545		232		2,027		28,427
Rate concession	13,441		5,202		—		18,643		7,423		39		171		7,633		26,276
Principal forgiveness	—		—		—		—		—		11		—		11		11
	$	28,894	$	24,433	$	4,066	$	57,393	$	12,561	$	5,049	$	403	$	18,013	$	75,406

	As of December 31, 2014
	TDRs on Accrual								TDRs on Nonaccrual								Total
	Real Estate— Commercial		Commercial Business		Other		Total		Real Estate— Commercial		Commercial Business		Other		Total
	(In thousands)
Payment concession	$	12,235	$	556	$	—	$	12,791	$	3,840	$	517	$	—	$	4,357	$	17,148
Maturity / Amortization concession	2,189		20,053		3,387		25,629		1,207		3,158		1,550		5,915		31,544
Rate concession	13,684		5,024		—		18,708		8,473		80		176		8,729		27,437
Principal forgiveness	—		—		—		—		—		15		—		15		15
	$	28,108	$	25,633	$	3,387	$	57,128	$	13,520	$	3,770	$	1,726	$	19,016	$	76,144

TDRs on accrual status are comprised of loans that were accruing at the time of restructuring and for which the Bank anticipates full repayment of both principal and interest under the restructured terms. TDRs that are on nonaccrual status can be returned to accrual status after a period of sustained performance, generally determined to be six months of timely payments as modified.  Sustained performance includes the periods prior to the modification if the prior performance met or exceeded the modified terms. TDRs on accrual status at June 30, 2015 were comprised of 25 commercial real estate loans totaling $28.9 million, 31 commercial business loans totaling $24.4 million, and 3 other loans totaling $4.1 million. TDRs on accrual status at December 31, 2014 were comprised of 24 commercial real estate loans totaling $28.1 million, 30 commercial business loans totaling $25.6 million and 3 other loans totaling $3.4 million.  The Company expects that the TDRs on accrual status as of June 30, 2015, which were all performing in accordance with their restructured terms, to continue to comply with the restructured terms because of the reduced principal or interest payments on these loans. TDRs that were restructured at market interest rates and had sustained performance as agreed under the modified loan terms may be reclassified as non-TDRs after each year end but are reserved for under ASC 310-10.

The Company has allocated $5.9 million and $5.7 million of specific reserves to TDRs as of June 30, 2015 and December 31, 2014, respectively. 

The following table presents loans by class modified as TDRs that occurred during the three and six months ended June 30, 2015:

	Three Months Ended June 30, 2015					Six Months Ended June 30, 2015
	Number of Loans	Pre- Modification		Post- Modification		Number of Loans	Pre- Modification		Post- Modification
	(Dollars in thousands)
Legacy Loans:
Real estate—commercial
Retail	1	$	255	$	253	1	$	255	$	253
Hotel & motel	—	—		—		—	—		—
Gas station & car wash	—	—		—		1	142		131
Mixed use	—	—		—		—	—		—
Industrial & warehouse	—	—		—		—	—		—
Other	—	—		—		2	1,762		1,734
Real estate - construction	—	—		—		—	—		—
Commercial business	8	4,620		4,443		10	4,711		4,486
Trade finance	—	—		—		—	—		—
Consumer and other	—	—		—		—	—		—
Subtotal	9	$	4,875	$	4,696	14	$	6,870	$	6,604
Acquired Loans:
Real estate—commercial
Retail	—	$	—	$	—	—	$	—	$	—
Hotel & motel	—	—		—		—	—		—
Gas station & car wash	—	—		—		—	—		—
Mixed use	1	64		64		1	64		64
Industrial & warehouse	—	—		—		—	—		—
Other	—	—		—		—	—		—
Real estate—construction	—	—		—		—	—		—
Commercial business	—	—		—		—	—		—
Trade finance	—	—		—		—	—		—
Consumer and other	—	—		—		—	—		—
Subtotal	1	$	64	$	64	1	$	64	$	64
Total	10	$	4,939	$	4,760	15	$	6,934	$	6,668

The specific reserves for the TDRs that occurred during the three and six months ended June 30, 2015 totaled $2.4 million and $2.4 million, respectively, and there were $0 and $42 thousand in charge offs for the three and six months ended June 30, 2015, respectively.

The following table presents loans by class for TDRs that have been modified within the previous twelve months and have subsequently had a payment default during the three and six months ended June 30, 2015:

	Three Months Ended June 30, 2015			Six Months Ended June 30, 2015
	Number of Loans	Balance		Number of Loans	Balance
	(Dollars In thousands)
Legacy Loans:
Real estate—commercial
Retail	—	$	—	—	$	—
Gas station & car wash	1	131		1	131
Industrial & warehouse	1	21		1	21
Other	1	325		1	325
Commercial business	8	4,047		8	4,047
Subtotal	11	$	4,524	11	$	4,524
Acquired Loans:
Real estate—commercial
Retail	—	$	—	—	$	—
Gas station & car wash	—	—		—	—
Hotel & motel	—	—		—	—
Industrial & warehouse	—	—		—	—
Other	—	—		—	—
Commercial business	1	31		1	31
Subtotal	1	$	31	1	$	31
	12	$	4,555	12	$	4,555

A loan is considered to be in payment default once it is 30 days contractually past due under the modified terms. As of June 30, 2015, the specific reserves totaled $2.4 million and $2.4 million for the TDRs that had payment defaults during the three and six months ended June 30, 2015, respectively. The total charge offs for the TDRs that had payment defaults during the three and six months ended June 30, 2015 were $0 and $0, respectively.

There were eleven Legacy Loans that subsequently defaulted during the three and six months ended June 30, 2015 that were modified as follows: eight Commercial Business loan totaling $4.0 million were modified through payment concessions, two Real Estate Commercial loans totaling $152 thousand were modified through payment concessions, and one Real Estate Commercial loan totaling $325 thousand was modified through maturity concession.

There was one Acquired Loan that defaulted during the three and six months ended June 30, 2015 that was modified as follows: one Commercial Business loan totaling $31 thousand was modified through payment concession.

Covered Assets

On April 16, 2010, the Department of Financial Institutions closed Innovative Bank, California, and appointed the FDIC as its receiver. On the same date, the Bank assumed the banking operations of Innovative Bank from the FDIC under a purchase and assumption agreement and two related loss sharing agreements with the FDIC. These agreements provide for the sharing of losses and recoveries on the covered assets. The loss sharing provisions of the agreements expired on June 30, 2015, however, the Company will continue to reimburse the FDIC for recoveries on its covered assets until June 30, 2018.

Covered nonperforming assets totaled $2.1 million and $1.5 million at June 30, 2015 and December 31, 2014, respectively. These covered nonperforming assets are subject to the loss sharing agreements with the FDIC. The covered nonperforming assets at June 30, 2015 and December 31, 2014 were as follows:

	June 30, 2015		December 31, 2014
	(In thousands)
Covered loans on nonaccrual status	$	1,172	$	1,355
Covered OREO	956		96
Total covered nonperforming assets	$	2,128	$	1,451
Acquired covered loans	$	27,259	$	32,560

Related Party Loans

In the ordinary course of business, the Company enters into loan transactions with certain of its directors or associates of such directors (“Related Parties”). The loans to Related Parties are on substantially the same terms and conditions, including interest rates and collateral, as those prevailing at the same time for comparable transactions with unrelated parties. In management’s opinion, these transactions did not involve more than normal credit risk or present other unfavorable features. All loans to Related Parties were current as of June 30, 2015 and December 31, 2014, and the outstanding principal balance as of June 30, 2015 and December 31, 2014 was $3.6 million and $3.7 million, respectively.

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Derivative Financial Instruments (Notes)

6 Months Ended

Jun. 30, 2015

Derivative Financial Instruments [Abstract]

Derivative Instruments and Hedging Activities Disclosure [Text Block]

Derivative Financial Instruments

The Company offers a loan hedging program to certain loan customers.  Through this program, the Company originates a variable rate loan with the customer.  The Company and the customer will then enter into a fixed interest rate swap. Lastly, an identical offsetting swap is entered into by the Company with a correspondent bank. These “back to back” swap arrangements are intended to offset each other and allow the Company to book a variable rate loan, while providing the customer with a contract for fixed interest payments. In these arrangements, the Company’s net cash flow is equal to the interest income received from the variable rate loan originated with the customer. These customer swaps are not designated as hedging instruments and are recorded at fair value in other assets and other liabilities.  The changes in fair value are recognized in the income statement in other income and fees.

At June 30, 2015, the following interest rate swaps related to our loan hedging program were outstanding:

	As of June 30, 2015
Interest rate swaps on loans with loan customers
Notional amount (in thousands)	$	83,848
Weighted average remaining term	7.5 years
Received fixed rate (weighted average)	4.44		%
Pay variable rate (weighted average)	2.55		%
Estimated fair value (in thousands)	$	1,127
Back to back interest rate swaps with correspondent banks
Notional amount (in thousands)	$	83,848
Weighted average remaining term	7.5 years
Received variable rate (weighted average)	2.55		%
Pay fixed rate (weighted average)	4.44		%
Estimated fair value (in thousands)	$	(1,127	)

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Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 1,800	$ 1,800
Interest and penalties accrued	$ 125	$ 96

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Fair Value Measurements - Rollforward of Level 3 Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Amortization	$ 0	$ 0
Total gains or (losses) included in earnings	0	0
Municipal bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	1,178	1,112
Purchases, issuances, and settlements	0	0
Total gains or (losses) included in other comprehensive income	(32)	29
Ending Balance	$ 1,146	$ 1,141

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Intangible Assets - Servicing Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Servicing Asset at Amortized Cost, Balance [Roll Forward]
Balance at beginning of period	$ 10,529	$ 9,123	$ 10,341	$ 8,915	$ 8,915
Additions through originations of servicing assets	1,144	858	2,189	1,672
Amortization	(738)	(957)	(1,595)	(1,563)
Balance at end of period	$ 10,935	$ 9,024	$ 10,935	$ 9,024	$ 10,341
Minimum
Servicing Asset at Amortized Cost, Balance [Roll Forward]
Weighted-average discount rate			5.47%		5.49%
Constant prepayment rate			8.90%		9.20%
Maximum
Servicing Asset at Amortized Cost, Balance [Roll Forward]
Weighted-average discount rate			5.73%		5.73%
Constant prepayment rate			12.50%		13.00%

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Stockholders’ Equity (Tables)

6 Months Ended

Jun. 30, 2015

Stockholders’ Equity and Regulatory Matters [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents the components of accumulated other comprehensive (loss) income, net at June 30, 2015 and December 31, 2014:

	June 30, 2015			December 31, 2014
	(In thousands)
Net unrealized (loss) gain on securities available for sale	$	(445	)	$	1,631
Net unrealized gain on interest-only strips	70			74
Total accumulated other comprehensive (loss) income, net	$	(375	)	$	1,705

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Loans Receivable and Allowance for Loan Losses - Financing Receivable Credit Quality Indicators (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 5,818,822	$ 5,568,082
Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	5,493,638	5,221,685
Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	129,795	122,335
Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	193,336	221,875
Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	2,053	2,187
Real estate
Financing Receivable, Recorded Investment [Line Items]
Loans	4,645,401	4,439,850
Real estate | Residential
Financing Receivable, Recorded Investment [Line Items]
Loans	36,706	21,415
Real estate | Commercial & industrial
Financing Receivable, Recorded Investment [Line Items]
Loans	4,503,794	4,324,349
Real estate | Construction
Financing Receivable, Recorded Investment [Line Items]
Loans	104,901	94,086
Commercial business
Financing Receivable, Recorded Investment [Line Items]
Loans	970,787	903,621
Trade finance
Financing Receivable, Recorded Investment [Line Items]
Loans	114,927	134,762
Consumer and other
Financing Receivable, Recorded Investment [Line Items]
Loans	87,707	89,849
Legacy
Financing Receivable, Recorded Investment [Line Items]
Loans	5,295,008	4,919,570
Legacy | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	5,088,989	4,709,070
Legacy | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	102,725	96,092
Legacy | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	103,074	114,369
Legacy | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	220	39
Legacy | Real estate
Financing Receivable, Recorded Investment [Line Items]
Loans	4,225,723	3,921,795
Legacy | Real estate | Residential
Financing Receivable, Recorded Investment [Line Items]
Loans	35,985	20,586
Legacy | Real estate | Residential | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	35,985	20,586
Legacy | Real estate | Residential | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Legacy | Real estate | Residential | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Legacy | Real estate | Residential | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Legacy | Real estate | Commercial & industrial | Retail
Financing Receivable, Recorded Investment [Line Items]
Loans	1,012,667	1,050,177
Legacy | Real estate | Commercial & industrial | Retail | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	975,319	1,015,195
Legacy | Real estate | Commercial & industrial | Retail | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	23,326	20,177
Legacy | Real estate | Commercial & industrial | Retail | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	14,022	14,805
Legacy | Real estate | Commercial & industrial | Retail | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Legacy | Real estate | Commercial & industrial | Hotel & motel
Financing Receivable, Recorded Investment [Line Items]
Loans	896,805	792,446
Legacy | Real estate | Commercial & industrial | Hotel & motel | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	889,763	784,586
Legacy | Real estate | Commercial & industrial | Hotel & motel | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	113	114
Legacy | Real estate | Commercial & industrial | Hotel & motel | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	6,929	7,746
Legacy | Real estate | Commercial & industrial | Hotel & motel | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Legacy | Real estate | Commercial & industrial | Gas station & car wash
Financing Receivable, Recorded Investment [Line Items]
Loans	587,367	562,758
Legacy | Real estate | Commercial & industrial | Gas station & car wash | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	573,688	553,901
Legacy | Real estate | Commercial & industrial | Gas station & car wash | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	8,814	0
Legacy | Real estate | Commercial & industrial | Gas station & car wash | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	4,865	8,857
Legacy | Real estate | Commercial & industrial | Gas station & car wash | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Legacy | Real estate | Commercial & industrial | Mixed use
Financing Receivable, Recorded Investment [Line Items]
Loans	307,264	291,743
Legacy | Real estate | Commercial & industrial | Mixed use | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	303,047	288,409
Legacy | Real estate | Commercial & industrial | Mixed use | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	787	1,147
Legacy | Real estate | Commercial & industrial | Mixed use | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	3,430	2,187
Legacy | Real estate | Commercial & industrial | Mixed use | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Legacy | Real estate | Commercial & industrial | Industrial & warehouse
Financing Receivable, Recorded Investment [Line Items]
Loans	440,152	369,299
Legacy | Real estate | Commercial & industrial | Industrial & warehouse | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	422,067	347,805
Legacy | Real estate | Commercial & industrial | Industrial & warehouse | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	8,508	9,181
Legacy | Real estate | Commercial & industrial | Industrial & warehouse | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	9,577	12,313
Legacy | Real estate | Commercial & industrial | Industrial & warehouse | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Legacy | Real estate | Commercial & industrial | Other
Financing Receivable, Recorded Investment [Line Items]
Loans	840,582	740,701
Legacy | Real estate | Commercial & industrial | Other | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	796,285	699,644
Legacy | Real estate | Commercial & industrial | Other | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	29,621	28,044
Legacy | Real estate | Commercial & industrial | Other | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	14,676	13,013
Legacy | Real estate | Commercial & industrial | Other | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Legacy | Real estate | Construction
Financing Receivable, Recorded Investment [Line Items]
Loans	104,901	94,085
Legacy | Real estate | Construction | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	104,901	92,564
Legacy | Real estate | Construction | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Legacy | Real estate | Construction | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	0	1,521
Legacy | Real estate | Construction | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Legacy | Commercial business
Financing Receivable, Recorded Investment [Line Items]
Loans	912,260	825,236
Legacy | Commercial business | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	853,739	765,280
Legacy | Commercial business | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	20,092	18,792
Legacy | Commercial business | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	38,219	41,138
Legacy | Commercial business | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	210	26
Legacy | Trade finance
Financing Receivable, Recorded Investment [Line Items]
Loans	114,927	134,762
Legacy | Trade finance | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	93,430	103,844
Legacy | Trade finance | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	11,458	18,599
Legacy | Trade finance | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	10,039	12,319
Legacy | Trade finance | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Legacy | Consumer and other
Financing Receivable, Recorded Investment [Line Items]
Loans	42,098	37,777
Legacy | Consumer and other | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	40,765	37,256
Legacy | Consumer and other | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	6	38
Legacy | Consumer and other | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	1,317	470
Legacy | Consumer and other | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	10	13
Acquired
Financing Receivable, Recorded Investment [Line Items]
Loans	523,814	648,512
Acquired | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	404,649	512,615
Acquired | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	27,070	26,243
Acquired | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	90,262	107,506
Acquired | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	1,833	2,148
Acquired | Real estate
Financing Receivable, Recorded Investment [Line Items]
Loans	419,678	518,055
Acquired | Real estate | Residential
Financing Receivable, Recorded Investment [Line Items]
Loans	721	829
Acquired | Real estate | Residential | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	436	539
Acquired | Real estate | Residential | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	285	290
Acquired | Real estate | Residential | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Acquired | Real estate | Residential | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Acquired | Real estate | Commercial & industrial | Retail
Financing Receivable, Recorded Investment [Line Items]
Loans	163,503	186,485
Acquired | Real estate | Commercial & industrial | Retail | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	141,896	157,485
Acquired | Real estate | Commercial & industrial | Retail | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	3,617	3,531
Acquired | Real estate | Commercial & industrial | Retail | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	17,990	25,469
Acquired | Real estate | Commercial & industrial | Retail | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Acquired | Real estate | Commercial & industrial | Hotel & motel
Financing Receivable, Recorded Investment [Line Items]
Loans	56,825	82,366
Acquired | Real estate | Commercial & industrial | Hotel & motel | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	37,499	69,236
Acquired | Real estate | Commercial & industrial | Hotel & motel | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	6,214	3,889
Acquired | Real estate | Commercial & industrial | Hotel & motel | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	13,112	9,241
Acquired | Real estate | Commercial & industrial | Hotel & motel | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Acquired | Real estate | Commercial & industrial | Gas station & car wash
Financing Receivable, Recorded Investment [Line Items]
Loans	32,721	37,115
Acquired | Real estate | Commercial & industrial | Gas station & car wash | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	25,251	27,936
Acquired | Real estate | Commercial & industrial | Gas station & car wash | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	381	369
Acquired | Real estate | Commercial & industrial | Gas station & car wash | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	7,089	8,542
Acquired | Real estate | Commercial & industrial | Gas station & car wash | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	0	268
Acquired | Real estate | Commercial & industrial | Mixed use
Financing Receivable, Recorded Investment [Line Items]
Loans	33,132	35,892
Acquired | Real estate | Commercial & industrial | Mixed use | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	18,681	25,843
Acquired | Real estate | Commercial & industrial | Mixed use | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	11,626	7,001
Acquired | Real estate | Commercial & industrial | Mixed use | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	2,825	3,048
Acquired | Real estate | Commercial & industrial | Mixed use | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Acquired | Real estate | Commercial & industrial | Industrial & warehouse
Financing Receivable, Recorded Investment [Line Items]
Loans	57,622	81,058
Acquired | Real estate | Commercial & industrial | Industrial & warehouse | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	45,691	66,214
Acquired | Real estate | Commercial & industrial | Industrial & warehouse | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	1,237	667
Acquired | Real estate | Commercial & industrial | Industrial & warehouse | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	10,694	14,177
Acquired | Real estate | Commercial & industrial | Industrial & warehouse | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Acquired | Real estate | Commercial & industrial | Other
Financing Receivable, Recorded Investment [Line Items]
Loans	75,154	94,310
Acquired | Real estate | Commercial & industrial | Other | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	61,192	76,956
Acquired | Real estate | Commercial & industrial | Other | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	529	2,076
Acquired | Real estate | Commercial & industrial | Other | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	13,016	15,242
Acquired | Real estate | Commercial & industrial | Other | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	417	36
Acquired | Real estate | Construction
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Acquired | Real estate | Construction | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Acquired | Real estate | Construction | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Acquired | Real estate | Construction | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Acquired | Real estate | Construction | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Acquired | Commercial business
Financing Receivable, Recorded Investment [Line Items]
Loans	58,527	78,385
Acquired | Commercial business | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	38,317	48,270
Acquired | Commercial business | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	1,547	6,331
Acquired | Commercial business | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	18,142	22,721
Acquired | Commercial business | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	521	1,063
Acquired | Trade finance
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Acquired | Trade finance | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Acquired | Trade finance | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Acquired | Trade finance | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Acquired | Trade finance | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Acquired | Consumer and other
Financing Receivable, Recorded Investment [Line Items]
Loans	45,609	52,072
Acquired | Consumer and other | Pass
Financing Receivable, Recorded Investment [Line Items]
Loans	35,686	40,136
Acquired | Consumer and other | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Loans	1,634	2,089
Acquired | Consumer and other | Substandard
Financing Receivable, Recorded Investment [Line Items]
Loans	7,394	9,066
Acquired | Consumer and other | Doubtful or Loss
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 895	$ 781

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Stockholders' Equity

6 Months Ended

Jun. 30, 2015

Stockholders’ Equity and Regulatory Matters [Abstract]

Stockholders’ Equity

Stockholders’ Equity

In June 2012, the Company redeemed all of the Fixed Rate Cumulative Perpetual Preferred Stock issued under the U.S. Treasury Department's TARP Capital Purchase Program.

The Company assumed certain warrants (related to the TARP Capital Purchase Plan) to purchase shares of the Company's common stock. On May 20, 2015, the U.S. Treasury Department completed an auction to sell certain of its warrant positions, and the Company submitted the winning bid to repurchase an outstanding warrant to purchase 350,767 shares of the Company's common stock. The Company repurchased this warrant for $1.2 million. As of June 30, 2015, the U.S. Treasury Department held one remaining warrant for the purchase of 19,014 shares of the Company's common stock.

The Company's Board of Directors declared quarterly dividends of $0.11 per common share for the second quarter of 2015 and $0.075 per common share for the second quarter of 2014.

The following table presents the components of accumulated other comprehensive (loss) income, net at June 30, 2015 and December 31, 2014:

	June 30, 2015			December 31, 2014
	(In thousands)
Net unrealized (loss) gain on securities available for sale	$	(445	)	$	1,631
Net unrealized gain on interest-only strips	70			74
Total accumulated other comprehensive (loss) income, net	$	(375	)	$	1,705

XML

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Computation of basic and diluted EPS

The following tables show the computation of basic and diluted EPS for the three months and six months ended June 30, 2015 and 2014.

	Three Months Ended June 30,
	2015					2014
	Net income (Numerator)		Weighted-Average Shares (Denominator)	Per Share (Amount)		Net income (Numerator)		Weighted-Average Shares (Denominator)	Per Share (Amount)
	(In thousands, except share and per share data)
Basic EPS - common stock	$	22,941	79,549,097	$	0.29	$	22,312	79,490,767	$	0.28
Effect of dilutive securities:
Stock options and performance units			20,778					40,119
Common stock warrants			38,530					83,160
Diluted EPS - common stock	$	22,941	79,608,405	$	0.29	$	22,312	79,614,046	$	0.28

	Six Months Ended June 30,
	2015					2014
	Net income available to common stockholders (Numerator)		Weighted-Average Shares (Denominator)	Per Share (Amount)		Net income available to common stockholders (Numerator)		Weighted-Average Shares (Denominator)	Per Share (Amount)
	(In thousands, except share and per share data)
Basic EPS - common stock	$	44,299	79,539,789	$	0.56	$	44,508	79,481,359	$	0.56
Effect of Dilutive Securities:
Stock Options and Performance Units			24,155					49,132
Common stock warrants			46,712					87,955
Diluted EPS - common stock	$	44,299	79,610,656	$	0.56	$	44,508	79,618,446	$	0.56

XML

Loans Receivable and Allowance for Loan Losses - Impaired Financing Receivables (Details) - USD ($) $ in Thousands		3 Months Ended				6 Months Ended				12 Months Ended
		Jun. 30, 2015		Jun. 30, 2014		Jun. 30, 2015		Jun. 30, 2014		Dec. 31, 2014
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		$ 66,527	[1]			$ 66,527	[1]			$ 73,934	[2]
Recorded Investment, With no related allowance		52,171	[1]			52,171	[1]			53,211	[2]
Related Allowance		(8,065)				(8,065)				(10,922)
Impaired Loans, net of allowance		110,633				110,633				116,223
Total recorded investment		118,698	[1]			118,698	[1]			127,145	[2]
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		68,153				68,153				86,395
Unpaid Contractual Principal Balance, With no related allowance		69,876				69,876				70,351
Impaired Financing Receivable, Unpaid Principal Balance		138,029				138,029				156,746
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		66,768	[1]	$ 71,917	[1]	69,157	[1]	$ 76,868	[1]	77,098	[2]
Average Recorded Investment, With no related allowance		53,950	[1]	51,079	[1]	53,703	[1]	43,885	[1]	46,924	[2]
Average Recorded Investment, Total		120,718	[1]	122,996	[1]	122,860	[1]	120,753	[1]	124,022	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		658		708		1,322		1,380		2,695
Interest Income Recognized during Impairment, With no related allowance		273		279		542		535		1,106
Interest Income Recognized during Impairment, Total		931		987		$ 1,864		1,915		3,801
Threshold period for loans to be placed on nonaccrual status						90 days
WIthout charge-offs
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		65,343				$ 65,343				67,352
Recorded Investment, With no related allowance		48,001				48,001				46,885
With charge-offs
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		1,184				1,184				6,582
Recorded Investment, With no related allowance		4,170				4,170				6,326
Acquired
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		6,674	[3]			6,674	[3]			6,299	[2]
Recorded Investment, With no related allowance		13,862	[3]			13,862	[3]			16,109	[2]
Related Allowance		(963)				(963)				(741)
Total recorded investment		20,536	[3]			20,536	[3]			22,408	[2]
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		7,303				7,303				6,883
Unpaid Contractual Principal Balance, With no related allowance		18,135				18,135				20,704
Impaired Financing Receivable, Unpaid Principal Balance		25,438				25,438				27,587
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		5,839	[3]	4,434	[3]	5,993	[3]	6,176	[3]	6,083	[2]
Average Recorded Investment, With no related allowance		15,046	[3]	20,552	[3]	15,401	[3]	18,333		17,396	[2]
Average Recorded Investment, Total		20,885	[3]	24,986	[3]	21,394	[3]	24,509	[3]	23,479	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		60		20		120		38		177
Interest Income Recognized during Impairment, With no related allowance		37		30		76		54		119
Interest Income Recognized during Impairment, Total		97		50		196		92		296
Commercial & industrial | Retail
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance	[2]									4,902
Commercial & industrial | Hotel & motel
Impaired Loans, Recorded Investment
Recorded Investment, With no related allowance	[2]									5,992
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With no related allowance										8,728
Commercial & industrial | Gas station & car wash
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance										3,507
Commercial & industrial | Mixed use
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With no related allowance										1,697
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With no related allowance	[2]									1,415
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance										0
Interest Income Recognized during Impairment, With no related allowance										39
Commercial & industrial | Industrial & warehouse
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance										2,126
Commercial & industrial | Other
Impaired Loans, Recorded Investment
Related Allowance										(1,110)
Real estate | Residential
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		0	[1]			0	[1]			0	[2]
Recorded Investment, With no related allowance		0	[1]			0	[1]			0	[2]
Related Allowance		0				0				0
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		0				0				0
Unpaid Contractual Principal Balance, With no related allowance		0				0				0
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		0	[1]	0	[1]	0	[1]	0	[1]	0	[2]
Average Recorded Investment, With no related allowance		0	[1]	0	[1]	0	[1]	0	[1]	0	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		0		0		0		0		0
Interest Income Recognized during Impairment, With no related allowance		0		0		0		0		0
Real estate | Residential | Acquired
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		0	[3]			0	[3]			0	[2]
Recorded Investment, With no related allowance		0	[3]			0	[3]			0	[2]
Related Allowance		0				0				0
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		0				0				0
Unpaid Contractual Principal Balance, With no related allowance		0				0				0
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		0	[3]	0	[3]	0	[3]	0	[3]	0	[2]
Average Recorded Investment, With no related allowance		0	[3]	0	[3]	0	[3]	0	[3]	0	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		0		0		0		0		0
Interest Income Recognized during Impairment, With no related allowance		0		0		0		0		0
Real estate | Commercial & industrial
Impaired Loans, Recorded Investment
Related Allowance		(2,374)				(2,374)				(2,374)
Real estate | Commercial & industrial | Retail
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance	[1]	4,419				4,419
Recorded Investment, With no related allowance		9,197	[1]			9,197	[1]			11,708	[2]
Related Allowance		(243)				(243)				(390)
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		4,615				4,615				5,288
Unpaid Contractual Principal Balance, With no related allowance		10,932				10,932				13,492
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		4,165	[1]	4,198	[1]	4,411	[1]	5,238	[1]	5,205	[2]
Average Recorded Investment, With no related allowance		9,536	[1]	8,300	[1]	10,260	[1]	6,875	[1]	8,462	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		44		27		88		46		127
Interest Income Recognized during Impairment, With no related allowance		84		62		167		124		358
Real estate | Commercial & industrial | Retail | Acquired
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		2,579	[3]			2,579	[3]			1,653	[2]
Recorded Investment, With no related allowance		1,370	[3]			1,370	[3]			3,158	[2]
Related Allowance		(185)				(185)				(36)
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		2,568				2,568				1,638
Unpaid Contractual Principal Balance, With no related allowance		1,479				1,479				3,376
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		2,591	[3]	201	[3]	2,278	[3]	264	[3]	838	[2]
Average Recorded Investment, With no related allowance		1,476	[3]	1,702	[3]	2,037	[3]	1,549	[3]	1,869	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		37		0		74		0		97
Interest Income Recognized during Impairment, With no related allowance		3		7		7		15		27
Real estate | Commercial & industrial | Hotel & motel
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		11,416	[1]			11,416	[1]			13,401	[2]
Recorded Investment, With no related allowance	[1]	6,522				6,522
Related Allowance		(326)				(326)				(469)
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		11,422				11,422				14,548
Unpaid Contractual Principal Balance, With no related allowance		8,600				8,600
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		11,500	[1]	11,696	[1]	12,134	[1]	11,771	[1]	12,053	[2]
Average Recorded Investment, With no related allowance		6,187	[1]	6,468	[1]	6,122	[1]	6,480	[1]	6,655	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		129		133		258		266		532
Interest Income Recognized during Impairment, With no related allowance		3		0		7		0		0
Real estate | Commercial & industrial | Hotel & motel | Acquired
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		0	[3]			0	[3]			0	[2]
Recorded Investment, With no related allowance		5,730	[3]			5,730	[3]			5,591	[2]
Related Allowance		0				0				0
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		0				0				0
Unpaid Contractual Principal Balance, With no related allowance		7,779				7,779				7,493
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		0	[3]	0	[3]	0	[3]	0	[3]	0	[2]
Average Recorded Investment, With no related allowance		5,624	[3]	6,347	[3]	5,613	[3]	6,379	[3]	6,067	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		0		0		0		0		0
Interest Income Recognized during Impairment, With no related allowance		3		0		7		0		0
Real estate | Commercial & industrial | Gas station & car wash
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		1,719	[1]			1,719	[1]			1,904	[2]
Recorded Investment, With no related allowance		3,682	[1]			3,682	[1]			2,693	[2]
Related Allowance		(341)				(341)				(379)
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		1,928				1,928
Unpaid Contractual Principal Balance, With no related allowance		6,205				6,205				4,065
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		1,266	[1]	2,589	[1]	1,479	[1]	2,774	[1]	2,440	[2]
Average Recorded Investment, With no related allowance		3,739	[1]	4,808	[1]	3,391	[1]	4,820	[1]	4,139	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		15		19		29		38		60
Interest Income Recognized during Impairment, With no related allowance		11		0		22		0		44
Real estate | Commercial & industrial | Gas station & car wash | Acquired
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		1,719	[3]			1,719	[3]			1,762	[2]
Recorded Investment, With no related allowance		0	[3]			0	[3]			9	[2]
Related Allowance		(341)				(341)				(379)
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		1,928				1,928				1,953
Unpaid Contractual Principal Balance, With no related allowance		0				0				297
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		1,215	[3]	2,289	[3]	1,398	[3]	1,791	[3]	1,783	[2]
Average Recorded Investment, With no related allowance		516	[3]	736	[3]	347	[3]	1,029	[3]	621	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		15		15		29		30		60
Interest Income Recognized during Impairment, With no related allowance		0		0		0		0		0
Real estate | Commercial & industrial | Mixed use
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		481	[1]			481	[1]			482	[2]
Recorded Investment, With no related allowance		3,482	[1]			3,482	[1]			1,589	[2]
Related Allowance		(9)				(9)				(13)
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		497				497				497
Unpaid Contractual Principal Balance, With no related allowance		3,876				3,876
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		481	[1]	1,109	[1]	481	[1]	1,049	[1]	823	[2]
Average Recorded Investment, With no related allowance	[1]	$ 2,740		1,292		$ 2,356		1,143
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance				10				20
Interest Income Recognized during Impairment, With no related allowance		$ 10		0		$ 21		0
Real estate | Commercial & industrial | Mixed use | Acquired
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		352	[3]			352	[3]			352	[2]
Recorded Investment, With no related allowance		279	[3]			279	[3]			0	[2]
Related Allowance		(2)				(2)				(2)
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		348				348				348
Unpaid Contractual Principal Balance, With no related allowance		444				444				0
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		352	[3]	177	[3]	352	[3]	118	[3]	212	[2]
Average Recorded Investment, With no related allowance		251	[3]	460	[3]	167	[3]	307	[3]	275	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		0		0		0		0		0
Interest Income Recognized during Impairment, With no related allowance		1		0		2		0		0
Real estate | Commercial & industrial | Industrial & warehouse
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		4,434	[1]			4,434	[1]			2,111	[2]
Recorded Investment, With no related allowance		9,264	[1]			9,264	[1]			14,374	[2]
Related Allowance		(12)				(12)				(13)
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		4,434				4,434
Unpaid Contractual Principal Balance, With no related allowance		12,932				12,932				17,940
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		5,678	[1]	7,456	[1]	4,489	[1]	9,104	[1]	7,309	[2]
Average Recorded Investment, With no related allowance		9,362	[1]	9,389	[1]	11,033	[1]	7,528	[1]	9,311	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		42		76		84		151		119
Interest Income Recognized during Impairment, With no related allowance		77		83		154		160		494
Real estate | Commercial & industrial | Industrial & warehouse | Acquired
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		0	[3]			0	[3]			0	[2]
Recorded Investment, With no related allowance		1,125	[3]			1,125	[3]			1,737	[2]
Related Allowance		0				0				0
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		0				0				0
Unpaid Contractual Principal Balance, With no related allowance		1,221				1,221				1,954
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		180	[3]	0	[3]	120	[3]	1,709	[3]	1,026	[2]
Average Recorded Investment, With no related allowance		1,174	[3]	3,981	[3]	1,362	[3]	3,281	[3]	2,673	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		0		0		0		0		0
Interest Income Recognized during Impairment, With no related allowance		1		2		2		5		39
Real estate | Commercial & industrial | Other
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		8,779	[1]			8,779	[1]			9,781	[2]
Recorded Investment, With no related allowance		8,950	[1]			8,950	[1]			7,083	[2]
Related Allowance		(1,443)				(1,443)
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		9,665				9,665				10,389
Unpaid Contractual Principal Balance, With no related allowance		10,675				10,675				9,886
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		8,344	[1]	8,898	[1]	8,823	[1]	9,353	[1]	9,709	[2]
Average Recorded Investment, With no related allowance		9,554	[1]	5,828	[1]	8,730	[1]	4,401	[1]	5,118	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		88		82		176		166		355
Interest Income Recognized during Impairment, With no related allowance		40		30		77		56		93
Real estate | Commercial & industrial | Other | Acquired
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		1,288	[3]			1,288	[3]			1,763	[2]
Recorded Investment, With no related allowance		3,881	[3]			3,881	[3]			4,009	[2]
Related Allowance		(62)				(62)				(17)
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		1,575				1,575				2,016
Unpaid Contractual Principal Balance, With no related allowance		4,906				4,906				5,174
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		803	[3]	899	[3]	1,123	[3]	1,054	[3]	1,134	[2]
Average Recorded Investment, With no related allowance		4,426	[3]	4,526	[3]	4,287	[3]	3,396	[3]	3,798	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		4		2		8		4		5
Interest Income Recognized during Impairment, With no related allowance		10		12		21		20		41
Real estate | Construction
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		0	[1]			0	[1]			0	[2]
Recorded Investment, With no related allowance		0	[1]			0	[1]			1,521	[2]
Related Allowance		0				0				0
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		0				0				0
Unpaid Contractual Principal Balance, With no related allowance		0				0				1,545
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		0	[1]	0	[1]	0	[1]	0	[1]	0	[2]
Average Recorded Investment, With no related allowance		740	[1]	1,596	[1]	1,000	[1]	1,606	[1]	1,583	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		0		0		0		0		0
Interest Income Recognized during Impairment, With no related allowance		0		21		0		42		0
Real estate | Construction | Acquired
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		0	[3]			0	[3]			0	[2]
Recorded Investment, With no related allowance		0	[3]			0	[3]			0	[2]
Related Allowance		0				0				0
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		0				0				0
Unpaid Contractual Principal Balance, With no related allowance		0				0				0
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		0	[3]	0	[3]	0	[3]	0	[3]	0	[2]
Average Recorded Investment, With no related allowance		0	[3]	0	[3]	0	[3]	0	[3]	0	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		0		0		0		0		0
Interest Income Recognized during Impairment, With no related allowance		0		0		0		0		0
Commercial business
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		29,648	[1]			29,648	[1]			37,300	[2]
Recorded Investment, With no related allowance		8,395	[1]			8,395	[1]			5,307	[2]
Related Allowance		(4,756)				(4,756)				(7,236)
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		29,961				29,961				38,730
Unpaid Contractual Principal Balance, With no related allowance		10,562				10,562				6,880
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		30,030	[1]	28,981	[1]	32,453	[1]	30,875	[1]	32,798	[2]
Average Recorded Investment, With no related allowance		9,502	[1]	11,296	[1]	8,104	[1]	9,345	[1]	8,349	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		286		310		579		594		1,502
Interest Income Recognized during Impairment, With no related allowance		41		75		81		138		50
Commercial business | Acquired
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		736	[3]			736	[3]			769	[2]
Recorded Investment, With no related allowance		904	[3]			904	[3]			1,009	[2]
Related Allowance		(373)				(373)				(307)
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		884				884				928
Unpaid Contractual Principal Balance, With no related allowance		1,664				1,664				1,758
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		697	[3]	868	[3]	721	[3]	1,240	[3]	1,090	[2]
Average Recorded Investment, With no related allowance		968	[3]	1,853	[3]	982	[3]	1,505	[3]	1,321	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		4		3		9		4		15
Interest Income Recognized during Impairment, With no related allowance		17		7		33		10		4
Trade finance
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		5,016	[1]			5,016	[1]			4,053	[2]
Recorded Investment, With no related allowance		1,654	[1]			1,654	[1]			1,883	[2]
Related Allowance		(320)				(320)				(1,312)
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		5,016				5,016				11,310
Unpaid Contractual Principal Balance, With no related allowance		5,000				5,000				5,000
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		4,990	[1]	6,990	[1]	4,678	[1]	6,526	[1]	6,647	[2]
Average Recorded Investment, With no related allowance		1,524	[1]	634	[1]	1,643	[1]	453	[1]	724	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		54		51		108		99		0
Interest Income Recognized during Impairment, With no related allowance		0		0		0		0		0
Trade finance | Acquired
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		0	[3]			0	[3]			0	[2]
Recorded Investment, With no related allowance		0	[3]			0	[3]			0	[2]
Related Allowance		0				0				0
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		0				0				0
Unpaid Contractual Principal Balance, With no related allowance		0				0				0
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		0	[3]	0	[3]	0	[3]	0	[3]	0	[2]
Average Recorded Investment, With no related allowance		0	[3]	0	[3]	0	[3]	0	[3]	0	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		0		0		0		0		0
Interest Income Recognized during Impairment, With no related allowance		0		0		0		0		0
Consumer and other
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		615	[1]			615	[1]			0	[2]
Recorded Investment, With no related allowance		1,025	[1]			1,025	[1]			1,061	[2]
Related Allowance		(615)				(615)				0
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		615				615				0
Unpaid Contractual Principal Balance, With no related allowance		1,094				1,094				1,118
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		314	[1]	0	[1]	209	[1]	178	[1]	114	[2]
Average Recorded Investment, With no related allowance		1,066	[1]	1,468	[1]	1,064	[1]	1,234	[1]	1,168	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		0		0		0		0		0
Interest Income Recognized during Impairment, With no related allowance		7		8		13		15		28
Consumer and other | Acquired
Impaired Loans, Recorded Investment
Recorded Investment, With related allowance		0	[3]			0	[3]			0	[2]
Recorded Investment, With no related allowance		573	[3]			573	[3]			596	[2]
Related Allowance		0				0				0
Impaired Loans, Unpaid Principal Balance
Unpaid Contractual Principal Balance, With related allowance		0				0				0
Unpaid Contractual Principal Balance, With no related allowance		642				642				652
Impaired Loans, Average Recorded Investment
Average Recorded Investment, With related allowance		1	[3]	0	[3]	1	[3]	0	[3]	0	[2]
Average Recorded Investment, With no related allowance		611	[3]	947	[3]	606	[3]	887	[3]	772	[2]
Impaired Loans, Interest Income Recognized during Impairment
Interest Income Recognized during Impairment, With related allowance		0		0		0		0		0
Interest Income Recognized during Impairment, With no related allowance		$ 2		$ 2		$ 4		$ 4		$ 8

[1] Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

[2] Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

[3] Unpaid contractual principal balance less charge offs, interest applied to principal and purchase discounts.

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Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net income (Numerator)
Net income available to common stockholders - basic	$ 22,941	$ 22,312	$ 44,299	$ 44,508
Net income available to common stockholders - diluted	$ 22,941	$ 22,312	$ 44,299	$ 44,508
Shares (Denominator)
Weighted-Average Shares (Denominator) (shares)	79,549,097	79,490,767	79,539,789	79,481,359
Effect of Dilutive Securities:
Stock options and performance units (shares)	20,778	40,119	24,155	49,132
Common stock warrants (shares)	38,530	83,160	46,712	87,955
Diluted EPS - common stock (shares)	79,608,405	79,614,046	79,610,656	79,618,446
Per Share (Amount)
Basic EPS - common stock (in dollars per share)	$ 0.29	$ 0.28	$ 0.56	$ 0.56
Diluted EPS - common stock (in dollars per share)	$ 0.29	$ 0.28	$ 0.56	$ 0.56
Stock options and restricted shares
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive shares of common stock	596,982		595,209
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive shares of common stock	19,013	18,482	18,882	18,392

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Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 22,941	$ 22,312	$ 44,299	$ 44,508
Other comprehensive (loss) income:
Unrealized (losses) gains on securities available for sale and interest only strips	(8,446)	6,655	(3,191)	17,795
Reclassification adjustments for gains realized in income	0	0	(424)	0
Tax (benefit) expense	(3,583)	2,752	(1,535)	7,448
Change in unrealized gains on securities available for sale and interest only strips	(4,863)	3,903	(2,080)	10,347
Total comprehensive income	$ 18,078	$ 26,215	$ 42,219	$ 54,855

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Business Combinations

6 Months Ended

Jun. 30, 2015

Business Combinations [Abstract]

Business Combinations

Business Combinations

The Company applies the acquisition method of accounting for business combinations under ASC 805 - Business Combinations. Under the acquisition method, the acquiring entity in a business combination recognizes 100 percent of the assets acquired and liabilities assumed at their acquisition date fair values. Management utilizes valuation techniques appropriate for the asset or liability being measured in determining these fair values. Any excess of the purchase price over amounts allocated to assets acquired, including identifiable intangible assets, and liabilities assumed is recorded as goodwill. Where amounts allocated to assets acquired and liabilities assumed is greater than the purchase price, a bargain purchase gain is recognized. Acquisition-related costs are expensed as incurred as merger and integration expense.

Acquisition of Foster Bankshares, Inc.

On August 13, 2013, the Company completed the acquisition of Foster Bankshares, Inc. ("Foster"), the holding company of Foster Bank. The Company acquired Foster in order to expand its market in Illinois and into Virginia. Foster's primary subsidiary, Foster Bank, operated eight branches in Illinois and one branch in Virginia.

Under the terms of the acquisition agreement, Foster shareholders can elect to receive a cash price of $34.6703 per share or, for shareholders who qualified as accredited investors, 2.62771 shares of Company common stock for each share of Foster common stock. As of March 31, 2015, the Company had issued 183,269 shares of Company common stock in exchange for 69,749 shares of Foster common stock and paid $2.0 million for 58,906 shares of Foster common stock. As of March 31, 2015, there were 3,345 shares of Foster common stock that had not been redeemed, and the accrued liability for the unredeemed shares of Foster common stock was $116 thousand.

The consideration paid, the assets acquired, and the liabilities assumed are summarized in the following table:

	(In thousands)
Consideration paid:
BBCN common stock issued in exchange for Foster common stock	$	2,609
Cash paid for the redemption of Foster common stock	2,042
Liability for unredeemed Foster common stock	116
Total consideration paid	$	4,767
Assets Acquired:
Cash and cash equivalents	$	42,883
Investment securities available for sale	4,844
Loans receivable	255,297
FRB and FHLB stock	1,714
OREO	14,251
Premises and equipment	4,733
Core deposit intangibles	2,763
Deferred tax assets, net	21,211
Other assets	2,353
Liabilities Assumed:
Deposits	(321,596		)
Borrowings	(18,045		)
Subordinated debentures	(15,309		)
Other liabilities	(5,857		)
Total identifiable net assets	$	(10,758	)
Excess of consideration paid over fair value of net assets acquired (goodwill)	$	15,525

The $15.5 million of goodwill recognized in the Foster acquisition represents the future economic benefit arising from the acquisition including the creation of a platform that can support future operations and strengthening the Company's existing presence in the Chicago metropolitan area and expansion into the Washington, D.C. market. Goodwill is not amortized for book purposes and is not deductible for tax purposes.

Acquisition of Pacific International Bancorp, Inc.

On February 15, 2013, the Company completed the acquisition of Pacific International Bancorp, Inc. ("PIB"), a Seattle based company, pursuant to an Agreement and Plan of Merger, dated October 22, 2012. The Company acquired PIB in order to increase its presence in the Seattle market. PIB's primary subsidiary, Pacific International Bank, a Washington state-chartered bank, operated four bank branches in the Seattle metropolitan area.

In connection with the acquisition, the consideration paid, the assets acquired, and the liabilities assumed are summarized in the following table:

	(In thousands)
Consideration paid:
BBCN common stock issued	$	8,437
Cash in lieu of fractional shares paid to PIB stockholders	1
Redemption of Preferred Stock	7,475
Total consideration paid	$	15,913
Assets Acquired:
Cash and cash equivalents	$	25,968
Investment securities available for sale	7,810
Loans receivable	131,589
FRB and FHLB stock	1,829
OREO	3,418
Deferred tax assets, net	9,886
Core deposit intangibles	604
Other assets	2,514
Liabilities Assumed:
Deposits	(143,665		)
Borrowings	(14,698		)
Subordinated debentures	(4,108		)
Other liabilities	(5,116		)
Total identifiable net assets	$	16,031
Bargain purchase gain	$	118

The bargain purchase gain of $118 thousand from the PIB acquisition was recorded in other income in the Consolidated Statements of Income.

Acquired Loans

The Company estimated the fair value for most loans acquired by utilizing a methodology wherein loans with comparable characteristics were aggregated by type of collateral, remaining maturity and repricing terms. Cash flows for each pool were determined by estimating future credit losses and prepayment rates. Projected monthly cash flows were then discounted using a risk-adjusted market rate for similar loans to determine the fair value of each pool. To estimate the fair value of the remaining loans, management analyzed the value of the underlying collateral of the loans, assuming the fair values of the loans were derived from the eventual sale of the collateral. The value of the collateral was based on recently completed appraisals adjusted to the valuation date based on recognized industry indices. The Company discounted those values using market derived rates of return, with consideration given to the period of time and costs associated with the foreclosure and disposition of the collateral. There was no carryover of the allowance for loan losses associated with the loans the Company acquired as the loans were initially recorded at fair value. The following table presents loans acquired with deteriorated credit quality as of the date of acquisition:

	Foster		PIB
	(In thousands)
Contractually required principal and interest at acquisition	$	150,430	$	54,462
Contractual cash flows not expected to be collected (nonaccretable discount)	37,447		9,687
Expected cash flows at acquisition	112,983		44,775
Interest component of expected cash flows (accretable discount)	14,928		4,945
Fair value of acquired impaired loans	$	98,055	$	39,830

The outstanding principal balances and the related carrying amounts of the acquired loans included in the statement of financial condition are $197.6 million and $167.2 million, respectively, for Foster and $78.3 million and $71.0 million, respectively, for PIB, as of March 31, 2015.

Pro Forma Information

The operating results of Foster and PIB from the dates of acquisitions through March 31, 2015 are included in the Condensed Consolidated Statement of Income for 2015 and 2014.

The following unaudited combined pro forma information presents the operating results for the three and nine months ended March 31, 2015 and 2014, as if the Foster and PIB acquisitions had occurred on January 1, 2013:

	Three Months Ended March 31,				Three Months Ended March 31,
	2015		2.014		2015		2.014
	(In thousands, except share data)
Net interest income	$	67,907	$	66,353	$	200,363	$	196,861
Net income	$	21,420	$	22,960	$	65,928	$	60,084
Preferred stock dividends and accretion of preferred stock discount	—		—		—		—
Net income (loss) available to common stockholders	$	—	$	—	$	—	$	—
Pro forma earnings per share:
Basic	$	0.27	$	0.29	$	0.83	$	0.76
Diluted	$	0.27	$	0.29	$	0.83	$	0.75

The above pro forma results are presented for illustrative purposes only and are not intended to represent or be indicative of the actual results of operations of the merged companies that would have been achieved had the acquisitions occurred at January 1, 2013, nor are they intended to represent or be indicative of future results of operations. The pro forma results do not include expected operating cost savings as a result of the acquisitions. These pro forma results require significant estimates and judgments particularly as it relates to the valuation and accretion of income associated with acquired loans.

Acquisition-Related Expenses

The following table presents acquisition-related expenses associated with the Foster and PIB acquisitions which were reflected in the Condensed Consolidated Statements of Income in merger and integration expense. These expenses are comprised primarily of salaries and benefits, occupancy expenses, professional services and other noninterest expense.

	Three Months Ended March 31,					Three Months Ended March 31,
	2014		2013			2014		2013
	(Dollars in thousands)
PIB	$	—	$	(275	)	$	31	$	1,057
Foster	$	66	$	1,206		$	259	$	1,564
Total	$	66	$	931		$	290	$	2,621

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Borrowings - Narrative (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Percent of assets	30.00%
Maximum borrowing capacity	$ 2,230,000,000	$ 2,170,000,000
Percent outstanding advances	100.00%
Borrowings	$ 580,785,000	$ 480,975,000
Weighted average interest rate	1.05%	1.09%
Interest rate, range minimum	0.21%
Interest rate, range maximum	2.02%
Unused funds	$ 1,650,000,000
Percent of qualifying assets	95.00%
Mortgage Loans on Real Estate
Debt Instrument [Line Items]
Pledged as collateral	$ 2,960,000,000	$ 2,890,000,000
Securities Investment
Debt Instrument [Line Items]
Asset balance used to determine maximum borrowing capacity from federal reserve bank	1,300,000
Amount outstanding	0	0
Qualifying Loans
Debt Instrument [Line Items]
Asset balance used to determine maximum borrowing capacity from federal reserve bank	697,700,000
Putable
Debt Instrument [Line Items]
Borrowings	$ 20,800,000	$ 21,000,000

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Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Level 1 | Carrying Amount
Financial Assets:
Cash and cash equivalents	$ 321,266	$ 462,160
Level 1 | Estimated Fair Value
Financial Assets:
Cash and cash equivalents	321,266	462,160
Level 2 | Carrying Amount
Financial Assets:
Loans held for sale	33,785	28,311
Customers' liabilities on acceptances	1,359	1,889
Financial Liabilities:
Noninterest-bearing deposits	1,689,137	1,543,018
Saving and other interest bearing demand deposits	1,812,972	1,862,060
Time deposits	2,256,181	2,288,374
FHLB advances	580,785	480,975
Subordinated debentures	42,241	42,158
Bank's liabilities on acceptances outstanding	1,359	1,889
Level 2 | Estimated Fair Value
Financial Assets:
Loans held for sale	35,439	29,626
Customers' liabilities on acceptances	1,359	1,889
Financial Liabilities:
Noninterest-bearing deposits	1,689,137	1,543,018
Saving and other interest bearing demand deposits	1,812,972	1,862,060
Time deposits	2,262,634	2,292,831
FHLB advances	582,562	481,290
Subordinated debentures	44,036	43,987
Bank's liabilities on acceptances outstanding	1,359	1,889
Level 3 | Carrying Amount
Financial Assets:
Loans receivable - net	5,745,706	5,497,434
Level 3 | Estimated Fair Value
Financial Assets:
Loans receivable - net	$ 6,097,107	$ 5,826,924

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Securities Available for Sale (Tables)

6 Months Ended

Jun. 30, 2015

Available-for-sale Securities [Abstract]

Summary of Securities Available for Sale

The following is a summary of securities available for sale as of the dates indicated:

	At June 30, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(In thousands)
Debt securities:
U.S. Government agency and U.S. Government sponsored enterprises
Collateralized mortgage obligations	$	363,759	$	1,774	$	(3,380	)	$	362,153
Mortgage-backed securities	450,974		4,211		(2,858		)	452,327
Trust preferred securities	4,538		—		(575		)	3,963
Municipal bonds	39,672		438		(441		)	39,669
Total debt securities	858,943		6,423		(7,254		)	858,112
Mutual funds	17,425		—		(132		)	17,293
	$	876,368	$	6,423	$	(7,386	)	$	875,405
	At December 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(In thousands)
Debt securities:
U.S. Government agency and U.S. Government sponsored enterprises
Collateralized mortgage obligations	$	304,947	$	1,376	$	(3,549	)	$	302,774
Mortgage-backed securities	460,487		6,528		(1,526		)	465,489
Trust preferred securities	4,531		—		(544		)	3,987
Municipal bonds	6,487		443		—			6,930
Total debt securities	776,452		8,347		(5,619		)	779,180
Mutual funds	17,425		—		(82		)	17,343
	$	793,877	$	8,347	$	(5,701	)	$	796,523

Schedule of Realized Gain (Loss)

The proceeds from sales of securities and the associated gross gains and losses recorded in earnings are listed below:

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
	(In thousands)
Proceeds	$	—	$	—	$	22,510	$	—
Gross gains	—		—		424		—
Gross losses	—		—		—		—

Investments Classified by Contractual Maturity Date

The amortized cost and estimated fair value of debt securities at June 30, 2015, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.

	Amortized Cost		Estimated Fair Value
	(In thousands)
Available for sale:
Due within one year	$	340	$	340
Due after one year through five years	882		959
Due after five years through ten years	23,894		24,024
Due after ten years	19,094		18,309
U.S. Government agency and U.S. Government sponsored enterprises
Collateralized mortgage obligations	363,759		362,153
Mortgage-backed securities	450,974		452,327
Mutual funds	17,425		17,293
	$	876,368	$	875,405

Schedule of Unrealized Loss on Investments

The following tables show our investments’ gross unrealized losses and estimated fair value, aggregated by investment category and the length of time that the individual securities have been in a continuous unrealized loss position as of the dates indicated.

	As of June 30, 2015
	Less than 12 months						12 months or longer						Total
Description of Securities	Number of Securities	Fair Value		Gross Unrealized Losses			Number of Securities	Fair Value		Gross Unrealized Losses			Number of Securities	Fair Value		Gross Unrealized Losses
	(In thousands)
Collateralized mortgage obligations*	12	$	102,215	$	(1,000	)	9	$	84,821	$	(2,380	)	21	$	187,036	$	(3,380	)
Mortgage-backed securities*	20	182,162		(1,236		)	3	28,929		(1,622		)	23	211,091		(2,858		)
Trust preferred securities	—	—		—			1	3,963		(575		)	1	3,963		(575		)
Municipal bonds	63	29,867		(441		)	—	—		—			63	29,867		(441		)
Mutual funds	1	13,293		(132		)	—	—		—			1	13,293		(132		)
	96	$	327,537	$	(2,809	)	13	$	117,713	$	(4,577	)	109	$	445,250	$	(7,386	)

* Investments in U.S. Government agency and U.S. Government sponsored enterprises

	As of December 31, 2014
	Less than 12 months						12 months or longer						Total
Description of Securities	Number of Securities	Fair Value		Gross Unrealized Losses			Number of Securities	Fair Value		Gross Unrealized Losses			Number of Securities	Fair Value		Gross Unrealized Losses
	(In thousands)
Collateralized mortgage obligations*	7	$	71,189	$	(507	)	13	$	133,563	$	(3,042	)	20	$	204,752	$	(3,549	)
Mortgage-backed securities*	7	38,133		(139		)	6	62,036		(1,387		)	13	100,169		(1,526		)
Trust Preferred securities	—	—		—			1	3,988		(544		)	1	3,988		(544		)
Mutual funds	—	—		—			1	13,343		(82		)	1	13,343		(82		)
	14	$	109,322	$	(646	)	21	$	212,930	$	(5,055	)	35	$	322,252	$	(5,701	)

* Investments in U.S. Government agency and U.S. Government sponsored enterprises

XML

Label	Element	Value
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	$ (4,863)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	$ 3,903

XML

Stock-Based Compensation - Plan Description (Details) - Jun. 30, 2015 - shares	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)	2,495,362
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common stock, percent	100.00%
Restricted stock, performance shares and performance units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock, restriction period	1 year
Time based vesting of grants | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock, restriction period	3 years
BBCN 2007 Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common stock, percent	100.00%
BBCN 2007 Plan | Stock options and stock appreciation rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term	10 years
BBCN 2007 Plan | Stock options and stock appreciation rights | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
BBCN 2007 Plan | Stock options and stock appreciation rights | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	5 years
2006 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	20.00%
2006 Plan | Nonemployee director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term	10 years
Award vesting rights, percentage	33.00%

XML

Fair Value Measurements

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

Accounting guidance establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value:

Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3: Significant unobservable inputs that reflect estimates of assumptions that market participants would use in pricing the asset or liability.

Securities Available for Sale

The fair values of securities available for sale are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs) or matrix pricing, which is a technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs).

The fair values of the Company's Level 3 securities available for sale were measured using an income approach valuation technique. The primary inputs and assumptions used in the fair value measurement were derived from the securities' underlying collateral, which included discount rates, prepayment speeds, payment delays, and an assessment of the risk of default of the underlying collateral, among other factors. Significant increases or decreases in any of the inputs or assumptions would result in a significant increase or decrease in the fair value measurement.

Impaired Loans

The fair values of impaired loans are generally measured for impairment using the practical expedients permitted by FASB ASC 310-10-35 including impaired loans measured at an observable market price (if available), or at the fair value of the loan’s collateral (if the loan is collateral dependent). Fair value of the loan’s collateral, when the loan is dependent on collateral, is determined by appraisals or independent valuation and result in a Level 2 classification.

OREO

OREO is fair valued at the time the loan is foreclosed upon and the asset is transferred to OREO. The value is based primarily on third party appraisals, less costs to sell and result in a Level 2 classification of the inputs for determining fair value. OREO is reviewed and evaluated on at least an annual basis for additional impairment and adjusted to lower of cost or market accordingly, based on the same factors identified above.

Loans held for sale

Loans held for sale are carried at the lower of cost or fair value, as determined by outstanding commitments from investors, or based on recent comparable sales (Level 2 inputs), if available, and if not available, are based on discounted cash flows using current market rates applied to the estimated life and credit risk (Level 3 inputs) or may be assessed based upon the fair value of the collateral, which is obtained from recent real estate appraisals (Level 3 inputs). These appraisals may utilize a single valuation approach or a combination of approaches including the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in Level 3 classification of the inputs for determining fair value.

Assets and liabilities measured at fair value on a recurring basis are summarized below:

			Fair Value Measurements at the End of the Reporting Period Using
	June 30, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Securities available for sale:
GSE collateralized mortgage obligations	$	362,153	$	—	$	362,153	$	—
GSE mortgage-backed securities	452,327		—		452,327		—
Trust preferred securities	3,963		—		3,963		—
Municipal bonds	39,669		—		38,523		1,146
Mutual funds	17,293		17,293		—		—

			Fair Value Measurements at the End of the Reporting Period Using
	December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Securities available for sale:
GSE collateralized mortgage obligations	$	302,774	$	—	$	302,774	$	—
GSE mortgage-backed securities	465,489		—		465,489		—
Trust preferred securities	3,987		—		3,987		—
Municipal bonds	6,930		—		5,752		1,178
Mutual funds	17,343		17,343		—		—

There were no transfers between Level 1, 2 and 3 during the three and six months ended June 30, 2015 and 2014. There were no gains or losses recognized in earnings during the three months ended June 30, 2015 and 2014. For the six months ended June 30, 2015 and 2014, there were $424 thousand and $0 gains in gains recorded in earnings, respectively.

The table below presents a reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the six months ended June 30, 2015:

	Six Months Ended June 30,
	2015			2014
	(In thousands)
Beginning Balance, January 1	$	1,178		$	1,112
Purchases, issuances and settlements	—			—
Amortization	—			—
Total gains or (losses) included in earnings	—			—
Total gains or (losses) included in other comprehensive income	(32		)	29
Ending Balance, June 30	$	1,146		$	1,141

Assets measured at fair value on a non-recurring basis are summarized below:

			Fair Value Measurements at the End of the Reporting Period Using
	June 30, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Impaired loans at fair value:
Real estate loans	$	38,705	$	—	$	38,705	$	—
Commercial business	7,546		—		7,546		—
Trade finance	1,654		—		1,654		—
Consumer	573		—		573		—
Loans held for sale, net	699		—		699		—
OREO	3,844		—		3,844		—

			Fair Value Measurements at the End of the Reporting Period Using
	December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Impaired loans at fair value:
Real estate loans	$	43,708	$	—	$	43,708	$	—
Commercial business	4,114		—		4,114		—
Trade Finance	1,883		—		1,883		—
Consumer	596		—		596		—
Loans held for sale, net	2,000		—		2,000		—
OREO	17,985		—		17,985		—

For assets measured at fair value on a non-recurring basis, the total net gains (losses), which include charge offs, recoveries, specific reserves, and gains and losses on sales recognized are summarized below:

	For the Three Months ended June 30,						For the Six Months ended June 30,
	2015			2014			2015		2014
	(In thousands)
Assets:
Impaired loans at fair value:
Real estate loans	$	(89	)	$	212		$	445	$	1,916
Commercial business	1,650			(242		)	2,924		(3,416		)
Trade Finance	315			(1,537		)	5		(2,196		)
Consumer	712			195			700		149
Loans held for sale, net	45			—			227		—
OREO	325			(320		)	814		(330		)

Fair Value of Financial Instruments

Carrying amounts and estimated fair values of financial instruments, not previously presented, at June 30, 2015 and December 31, 2014 were as follows:

	June 30, 2015
	Carrying Amount		Estimated Fair Value		Fair Value Measurement Using
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	321,266	$	321,266	Level 1
Loans held for sale	33,785		35,439		Level 2
Loans receivable—net	5,745,706		6,097,107		Level 3
Customers’ liabilities on acceptances	1,359		1,359		Level 2
Financial Liabilities:
Noninterest bearing deposits	$	1,689,137	$	1,689,137	Level 2
Saving and other interest bearing demand deposits	1,812,972		1,812,972		Level 2
Time deposits	2,256,181		2,262,634		Level 2
FHLB advances	580,785		582,562		Level 2
Subordinated debentures	42,241		44,036		Level 2
Bank’s liabilities on acceptances outstanding	1,359		1,359		Level 2
	December 31, 2014
	Carrying Amount		Estimated Fair Value		Fair Value Measurement Using
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	462,160	$	462,160	Level 1
Loans held for sale	28,311		29,626		Level 2
Loans receivable—net	5,497,434		5,826,924		Level 3
Customers’ liabilities on acceptances	1,889		1,889		Level 2
Financial Liabilities:
Noninterest bearing deposits	$	1,543,018	$	1,543,018	Level 2
Saving and other interest bearing demand deposits	1,862,060		1,862,060		Level 2
Time deposits	2,288,374		2,292,831		Level 2
FHLB advances	480,975		481,290		Level 2
Subordinated debentures	42,158		43,987		Level 2
Bank’s liabilities on acceptances outstanding	1,889		1,889		Level 2

The methods and assumptions used to estimate fair value are described as follows:

The carrying amount is the estimated fair value for cash and cash equivalents, savings and other interest bearing demand deposits, accrued interest receivable and payable, customer’s and Bank’s liabilities on acceptances, noninterest bearing deposits, short-term debt, secured borrowings and variable rate loans or deposits that reprice frequently and fully. For fixed rate loans or deposits and for variable rate loans or deposits with infrequent repricing or repricing limits, fair value is based on discounted cash flows using current market rates applied to the estimated life and credit risk. The allowance for loan losses is considered to be a reasonable estimate of discount for credit quality concerns. Fair value of SBA loans held for sale is based on market quotes. For fair value of non-SBA loans held for sale, see the measurement method discussed previously. Fair value of time deposits and debt is based on current rates for similar financing. It was not practicable to determine the fair value of FRB stock or FHLB stock due to restrictions placed on their transferability. The fair value of commitments to fund loans represents fees currently charged to enter into similar agreements with similar remaining maturities and is not presented herein. The fair value of these financial instruments is not material to the consolidated financial statements.