Quarterly report pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 |
Delaware | 95-4849715 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |
3200 Wilshire Boulevard, Suite 1400, Los Angeles, California | 90010 | |
(Address of principal executive offices) | (Zip Code) |
Large accelerated filer | x | Accelerated filer | o | |
Non-accelerated filer | o | (Do not check if a smaller reporting company) | Smaller reporting company | o |
Emerging growth company | o |
Page | ||
Item 1. | ||
Consolidated Statements of Financial Condition - June 30, 2017 (Unaudited) and December 31, 2016 | ||
Consolidated Statements of Income (Unaudited) - Three and Six Months Ended June 30, 2017 and 2016 | ||
Consolidated Statements of Comprehensive Income (Unaudited) - Three and Six Months Ended June 30, 2017 and 2016 | ||
Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) - Six Months Ended June 30, 2017 and 2016 | ||
Consolidated Statements of Cash Flows (Unaudited) - Six Months Ended June 30, 2017 and 2016 | ||
Item 2. | ||
Item 3. | ||
Item 4. | ||
Item 1. | LEGAL PROCEEDINGS | |
Item 1A. | RISK FACTORS | |
Item 2. | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS | |
Item 3. | DEFAULTS UPON SENIOR SECURITIES | |
Item 4. | MINE SAFETY DISCLOSURES | |
Item 5. | OTHER INFORMATION | |
Item 6. | EXHIBITS | |
SIGNATURES | ||
INDEX TO EXHIBITS | ||
Item 1. | Financial Statements |
HOPE BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION | |||||||
(Unaudited) | |||||||
June 30, 2017 | December 31, 2016 | ||||||
ASSETS | (Dollars in thousands, except share data) | ||||||
Cash and cash equivalents: | |||||||
Cash and due from banks | $ | 180,987 | $ | 168,827 | |||
Interest bearing cash in other banks | 265,428 | 268,507 | |||||
Total cash and cash equivalents | 446,415 | 437,334 | |||||
Interest bearing deposits in other financial institutions and other investments | 43,962 | 44,202 | |||||
Securities available for sale, at fair value | 1,680,382 | 1,556,740 | |||||
Loans held for sale, at the lower of cost or fair value | 16,927 | 22,785 | |||||
Loans receivable (net of allowance for loan losses of $80,074 and $79,343 at June 30, 2017 and December 31, 2016, respectively) | 10,736,345 | 10,463,989 | |||||
Other real estate owned (“OREO”), net | 21,839 | 21,990 | |||||
Federal Home Loan Bank (“FHLB”) stock, at cost | 22,351 | 21,964 | |||||
Premises and equipment, net | 52,565 | 55,316 | |||||
Accrued interest receivable | 25,640 | 26,880 | |||||
Deferred tax assets, net | 81,488 | 88,110 | |||||
Customers’ liabilities on acceptances | 1,669 | 2,899 | |||||
Bank owned life insurance (“BOLI”) | 74,113 | 73,696 | |||||
Investments in affordable housing partnerships | 91,343 | 70,059 | |||||
Goodwill | 464,450 | 462,997 | |||||
Core deposit intangible assets, net | 17,874 | 19,226 | |||||
Servicing assets | 25,338 | 26,457 | |||||
Other assets | 56,516 | 46,778 | |||||
Total assets | $ | 13,859,217 | $ | 13,441,422 | |||
(Continued) |
HOPE BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION | |||||||
(Unaudited) | |||||||
June 30, 2017 | December 31, 2016 | ||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | (Dollars in thousands, except share data) | ||||||
LIABILITIES: | |||||||
Deposits: | |||||||
Noninterest bearing | $ | 3,016,538 | $ | 2,900,241 | |||
Interest bearing: | |||||||
Money market and NOW accounts | 3,563,404 | 3,401,446 | |||||
Savings deposits | 275,272 | 301,906 | |||||
Time deposits | 4,099,887 | 4,038,442 | |||||
Total deposits | 10,955,101 | 10,642,035 | |||||
FHLB advances | 793,403 | 754,290 | |||||
Subordinated debentures | 100,328 | 99,808 | |||||
Accrued interest payable | 11,855 | 10,863 | |||||
Acceptances outstanding | 1,669 | 2,899 | |||||
Commitments to fund investments in affordable housing partnerships | 43,929 | 24,409 | |||||
Other liabilities | 46,638 | 51,645 | |||||
Total liabilities | 11,952,923 | 11,585,949 | |||||
STOCKHOLDERS’ EQUITY: | |||||||
Common stock, $0.001 par value; authorized 150,000,000 shares at June 30, 2017 and December 31, 2016; issued and outstanding, 135,297,678 and 135,240,079 shares at June 30, 2017 and December 31, 2016, respectively | 135 | 135 | |||||
Additional paid-in capital | 1,402,303 | 1,400,490 | |||||
Retained earnings | 513,945 | 469,505 | |||||
Accumulated other comprehensive loss, net | (10,089 | ) | (14,657 | ) | |||
Total stockholders’ equity | 1,906,294 | 1,855,473 | |||||
Total liabilities and stockholders’ equity | $ | 13,859,217 | $ | 13,441,422 |
HOPE BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (Unaudited) | |||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2017 | 2016 | 2017 | 2016 | ||||||||||||
(Dollars in thousands, except per share data) | |||||||||||||||
INTEREST INCOME: | |||||||||||||||
Loans, including fees | $ | 128,515 | $ | 77,086 | $ | 251,809 | $ | 154,204 | |||||||
Securities | 8,741 | 5,729 | 16,854 | 11,406 | |||||||||||
Interest bearing deposits in other banks and other investments | 1,277 | 719 | 2,613 | 1,385 | |||||||||||
Total interest income | 138,533 | 83,534 | 271,276 | 166,995 | |||||||||||
INTEREST EXPENSE: | |||||||||||||||
Deposits | 18,114 | 10,352 | 32,625 | 20,259 | |||||||||||
FHLB advances | 2,338 | 1,686 | 4,477 | 3,209 | |||||||||||
Other borrowings | 1,261 | 432 | 2,449 | 856 | |||||||||||
Total interest expense | 21,713 | 12,470 | 39,551 | 24,324 | |||||||||||
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES | 116,820 | 71,064 | 231,725 | 142,671 | |||||||||||
PROVISION FOR LOAN LOSSES | 2,760 | 1,200 | 8,360 | 1,700 | |||||||||||
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 114,060 | 69,864 | 223,365 | 140,971 | |||||||||||
NONINTEREST INCOME: | |||||||||||||||
Service fees on deposit accounts | 5,179 | 2,902 | 10,517 | 5,585 | |||||||||||
International service fees | 1,119 | 816 | 2,227 | 1,591 | |||||||||||
Loan servicing fees, net | 1,291 | 589 | 2,729 | 1,280 | |||||||||||
Wire transfer fees | 1,343 | 893 | 2,529 | 1,807 | |||||||||||
Net gains on sales of SBA loans | 3,267 | 3,035 | 6,517 | 4,860 | |||||||||||
Net gains on sales of other loans | 352 | 43 | 772 | 43 | |||||||||||
Other income and fees | 3,564 | 2,429 | 8,427 | 4,316 | |||||||||||
Total noninterest income | 16,115 | 10,707 | 33,718 | 19,482 | |||||||||||
NONINTEREST EXPENSE: | |||||||||||||||
Salaries and employee benefits | 34,946 | 21,757 | 69,112 | 43,326 | |||||||||||
Occupancy | 7,154 | 4,920 | 14,348 | 9,737 | |||||||||||
Furniture and equipment | 3,556 | 2,337 | 6,969 | 4,624 | |||||||||||
Advertising and marketing | 2,394 | 1,402 | 5,818 | 2,538 | |||||||||||
Data processing and communications | 2,676 | 2,129 | 6,282 | 4,300 | |||||||||||
Professional fees | 3,260 | 1,273 | 7,162 | 2,356 | |||||||||||
Investments in affordable housing partnership expenses | 3,055 | 271 | 5,216 | 676 | |||||||||||
FDIC assessments | 1,004 | 1,095 | 2,014 | 2,133 | |||||||||||
Credit related expenses | 113 | 911 | 1,996 | 1,332 | |||||||||||
OREO expense, net | 1,188 | 133 | 2,185 | 1,561 | |||||||||||
Merger and integration expenses | 562 | 1,533 | 1,509 | 2,740 | |||||||||||
Other | 4,129 | 2,587 | 9,125 | 5,074 | |||||||||||
Total noninterest expense | 64,037 | 40,348 | 131,736 | 80,397 | |||||||||||
INCOME BEFORE INCOME TAX PROVISION | 66,138 | 40,223 | 125,347 | 80,056 | |||||||||||
INCOME TAX PROVISION | 25,451 | 16,833 | 48,450 | 33,043 | |||||||||||
NET INCOME | $ | 40,687 | $ | 23,390 | $ | 76,897 | $ | 47,013 | |||||||
EARNINGS PER COMMON SHARE | |||||||||||||||
Basic | $ | 0.30 | $ | 0.29 | $ | 0.57 | $ | 0.59 | |||||||
Diluted | $ | 0.30 | $ | 0.29 | $ | 0.57 | $ | 0.59 |
HOPE BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) | |||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2017 | 2016 | 2017 | 2016 | ||||||||||||
(Dollars in thousands) | |||||||||||||||
Net income | $ | 40,687 | $ | 23,390 | $ | 76,897 | $ | 47,013 | |||||||
Other comprehensive income: | |||||||||||||||
Change in unrealized net holding gains on securities available for sale | 4,768 | 6,606 | 7,949 | 22,238 | |||||||||||
Change in unrealized net holding gains (losses) on interest only strips | 8 | (3 | ) | (41 | ) | (44 | ) | ||||||||
Less tax effect | 2,016 | 2,785 | 3,340 | 9,388 | |||||||||||
Other comprehensive income, net of tax | 2,760 | 3,818 | 4,568 | 12,806 | |||||||||||
Total comprehensive income | $ | 43,447 | $ | 27,208 | $ | 81,465 | $ | 59,819 |
HOPE BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Unaudited) | |||||||||||||||||||||||
Common stock | Additional paid-in capital | Retained earnings | Accumulated other comprehensive income (loss), net | Total stockholders’ equity | |||||||||||||||||||
Shares | Amount | ||||||||||||||||||||||
(Dollars in thousands, except share data) | |||||||||||||||||||||||
BALANCE, JANUARY 1, 2016 | 79,566,356 | $ | 80 | $ | 541,596 | $ | 398,251 | $ | (1,832 | ) | $ | 938,095 | |||||||||||
Issuance of shares pursuant to various stock plans | 40,465 | (6 | ) | (6 | ) | ||||||||||||||||||
Stock-based compensation | 98 | 98 | |||||||||||||||||||||
Cash dividends declared on common stock | (26,266 | ) | (26,266 | ) | |||||||||||||||||||
Comprehensive income: | |||||||||||||||||||||||
Net income | 47,013 | 47,013 | |||||||||||||||||||||
Other comprehensive income | 12,806 | 12,806 | |||||||||||||||||||||
BALANCE, JUNE 30, 2016 | 79,606,821 | $ | 80 | $ | 541,688 | $ | 418,998 | $ | 10,974 | $ | 971,740 | ||||||||||||
BALANCE, JANUARY 1, 2017 | 135,240,079 | $ | 135 | $ | 1,400,490 | $ | 469,505 | $ | (14,657 | ) | $ | 1,855,473 | |||||||||||
Issuance of shares pursuant to various stock plans | 57,599 | 649 | 649 | ||||||||||||||||||||
Stock-based compensation | 1,164 | 1,164 | |||||||||||||||||||||
Cash dividends declared on common stock | (32,457 | ) | (32,457 | ) | |||||||||||||||||||
Comprehensive income: | |||||||||||||||||||||||
Net income | 76,897 | 76,897 | |||||||||||||||||||||
Other comprehensive income | 4,568 | 4,568 | |||||||||||||||||||||
BALANCE, JUNE 30, 2017 | 135,297,678 | $ | 135 | $ | 1,402,303 | $ | 513,945 | $ | (10,089 | ) | $ | 1,906,294 |
HOPE BANCORP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) | |||||||
Six Months Ended June 30, | |||||||
2017 | 2016 | ||||||
(Dollars in thousands) | |||||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||
Net income | $ | 76,897 | $ | 47,013 | |||
Adjustments to reconcile net income to net cash from operating activities: | |||||||
Depreciation, amortization, net of discount accretion | (6,244 | ) | 394 | ||||
Stock-based compensation expense | 1,506 | 98 | |||||
Provision for loan losses | 8,360 | 1,700 | |||||
Valuation adjustment of premises held for sale | 1,084 | — | |||||
Valuation adjustment of OREO | 1,410 | 924 | |||||
Net gains on sales of SBA and other loans | (7,289 | ) | (4,903 | ) | |||
Earnings on BOLI | (417 | ) | (544 | ) | |||
Net change in fair value of derivatives | 65 | — | |||||
Net gain on sale and disposal of premise and equipment | (338 | ) | — | ||||
Net gain (loss) on sales of OREO | (82 | ) | 145 | ||||
Loss on investments in affordable housing partnership | 5,047 | 676 | |||||
Net change in deferred income taxes | 2,544 | 6,122 | |||||
Proceeds from sales of loans held for sale | 138,413 | 71,817 | |||||
Originations of loans held for sale | (111,742 | ) | (72,564 | ) | |||
Originations of servicing assets | (2,612 | ) | (2,087 | ) | |||
Net change in accrued interest receivable | 1,240 | (592 | ) | ||||
Net change in other assets | (9,916 | ) | (24,980 | ) | |||
Net change in accrued interest payable | 992 | 1,157 | |||||
Net change in other liabilities | (5,007 | ) | 4,097 | ||||
Net cash provided by operating activities | 93,911 | 28,473 | |||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||
Purchases of other investments | (8,820 | ) | — | ||||
Redemption of other investments | 9,060 | — | |||||
Purchase of securities available for sale | (245,198 | ) | (155,411 | ) | |||
Proceeds from matured, called, or paid-down of securities available for sale | 124,381 | 88,514 | |||||
Proceeds from sales of other loans held for sale | 259 | — | |||||
Net change in loans receivable | (285,348 | ) | (331,713 | ) | |||
Proceeds from sales of OREO | 3,606 | 5,435 | |||||
Purchase of FHLB stock | (1,148 | ) | — | ||||
Redemption of FHLB stock | 761 | — | |||||
Purchase of premises and equipment | (4,622 | ) | (6,587 | ) | |||
Proceeds from sales and disposals of premise and equipment held for sale | 3,267 | — | |||||
Investments in affordable housing partnerships | (6,980 | ) | — | ||||
Net cash used in investing activities | (410,782 | ) | (399,762 | ) | |||
CASH FLOWS FROM FINANCING ACTIVITIES | |||||||
Net change in deposits | 317,760 | 296,589 | |||||
Proceeds from FHLB advances | 425,000 | 475,000 | |||||
Repayment of FHLB advances | (385,000 | ) | (395,000 | ) | |||
Cash dividends paid on common stock | (32,457 | ) | (17,510 | ) | |||
Issuance of additional stock pursuant to various stock plans | 649 | (6 | ) | ||||
Net cash provided by financing activities | 325,952 | 359,073 | |||||
NET CHANGE IN CASH AND CASH EQUIVALENTS | 9,081 | (12,216 | ) | ||||
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 437,334 | 298,389 | |||||
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ | 446,415 | $ | 286,173 | |||
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | |||||||
Interest paid | $ | 43,620 | $ | 23,167 | |||
Income taxes paid | $ | 61,314 | $ | 35,701 | |||
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES | |||||||
Transfer from loans receivable to OREO | $ | 7,173 | $ | 2,188 | |||
Transfer from loans receivable to loans held for sale | $ | 14,590 | $ | 400 | |||
Transfer from loans held for sale to loans receivable | $ | 394 | $ | — | |||
Transfer from premises and equipment to premises held for sale | $ | 3,300 | $ | — | |||
New commitments to fund affordable housing partnership investments | $ | 26,500 | $ | — |
1. | Hope Bancorp, Inc. |
2. | Basis of Presentation |
3. | Mergers and Acquisitions |
(Dollars in thousands) | |||
Consideration Paid: | |||
Hope common stock issued in exchange for Wilshire common stock | $ | 852,939 | |
Cash paid for fractional shares | 3 | ||
Hope stock options issued in exchange Wilshire stock options | 3,370 | ||
Total consideration paid | $ | 856,312 | |
Assets Acquired: | |||
Cash and cash equivalents | $ | 100,127 | |
Investment securities available for sale | 478,938 | ||
Loans receivable | 3,800,807 | ||
FRB and FHLB stock | 16,539 | ||
OREO | 13,173 | ||
Premises and equipment | 16,812 | ||
Bank owned life insurance | 25,240 | ||
Servicing assets | 16,203 | ||
Low income housing tax credit investments | 47,111 | ||
Core deposit intangibles | 18,138 | ||
Deferred tax assets, net | 17,698 | ||
Other assets | 76,818 | ||
Liabilities Assumed: | |||
Deposits | (3,812,367 | ) | |
Borrowings | (206,282 | ) | |
Subordinated debentures | (56,942 | ) | |
Other liabilities | (54,751 | ) | |
Total identifiable net assets | $ | 497,262 | |
Excess of consideration paid over fair value of net assets acquired (goodwill) | $ | 359,050 |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2017 | 2016 | 2017 | 2016 | ||||||||||||
(Dollars in thousands) | |||||||||||||||
Wilshire | $ | 538 | $ | 1,509 | $ | 939 | $ | 2,692 | |||||||
U & I | — | — | 522 | — | |||||||||||
Other | 24 | 24 | 48 | 48 | |||||||||||
Total merger and integration expenses | $ | 562 | $ | 1,533 | $ | 1,509 | $ | 2,740 |
Number of Shares | Weighted- Average Exercise Price Per Share | Weighted- Average Remaining Contractual Life (Years) | Aggregate Intrinsic Value (Dollars in thousands) | |||||||||
Outstanding - January 1, 2017 | 1,624,227 | $ | 15.30 | |||||||||
Granted | — | — | ||||||||||
Exercised | (70,183 | ) | 8.89 | |||||||||
Expired | (230,900 | ) | 21.77 | |||||||||
Forfeited | — | — | ||||||||||
Outstanding - June 30, 2017 | 1,323,144 | $ | 14.51 | 7.46 | $ | 5,590 | ||||||
Options exercisable - June 30, 2017 | 638,874 | $ | 11.84 | 5.87 | $ | 4,467 |
Number of Shares | Weighted- Average Grant Date Fair Value | |||||
Outstanding - January 1, 2017 | 403,658 | $ | 16.17 | |||
Granted | 66,012 | 18.79 | ||||
Vested | (67,359 | ) | 15.10 | |||
Forfeited | (7,259 | ) | 14.67 | |||
Outstanding - June 30, 2017 | 395,052 | $ | 16.82 |
Three Months Ended June 30, | |||||||||||||||||||||
2017 | 2016 | ||||||||||||||||||||
Net Income (Numerator) | Weighted-Average Shares (Denominator) | Per Share (Amount) | Net Income (Numerator) | Weighted-Average Shares (Denominator) | Per Share (Amount) | ||||||||||||||||
(Dollars in thousands, except share and per share data) | |||||||||||||||||||||
Basic EPS - common stock | $ | 40,687 | 135,257,044 | $ | 0.30 | $ | 23,390 | 79,604,673 | $ | 0.29 | |||||||||||
Effect of dilutive securities: | |||||||||||||||||||||
Stock options and restricted stock | 356,137 | 30,089 | |||||||||||||||||||
Diluted EPS - common stock | $ | 40,687 | 135,613,181 | $ | 0.30 | $ | 23,390 | 79,634,762 | $ | 0.29 |
Six Months Ended June 30, | |||||||||||||||||||||
2017 | 2016 | ||||||||||||||||||||
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 | $ | 76,897 | 135,252,556 | $ | 0.57 | $ | 47,013 | 79,595,599 | $ | 0.59 | |||||||||||
Effect of dilutive securities: | |||||||||||||||||||||
Stock options and restricted stock | 432,508 | 30,074 | |||||||||||||||||||
Diluted EPS - common stock | $ | 76,897 | 135,685,064 | $ | 0.57 | $ | 47,013 | 79,625,673 | $ | 0.59 |
At June 30, 2017 | |||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | ||||||||||||
(Dollars in thousands) | |||||||||||||||
Debt securities: | |||||||||||||||
U.S. Government agency and U.S. Government sponsored enterprises | |||||||||||||||
Debt securities | $ | 10,001 | $ | — | $ | (6 | ) | $ | 9,995 | ||||||
Collateralized mortgage obligations (residential) | 791,774 | 351 | (8,531 | ) | 783,594 | ||||||||||
Mortgage-backed securities (residential) | 780,937 | 1,580 | (10,974 | ) | 771,543 | ||||||||||
Corporate securities | 4,567 | 39 | — | 4,606 | |||||||||||
Municipal securities | 97,298 | 1,078 | (864 | ) | 97,512 | ||||||||||
Total debt securities | 1,684,577 | 3,048 | (20,375 | ) | 1,667,250 | ||||||||||
Mutual funds | 13,425 | 25 | (318 | ) | 13,132 | ||||||||||
Total investment securities available for sale | $ | 1,698,002 | $ | 3,073 | $ | (20,693 | ) | $ | 1,680,382 | ||||||
At December 31, 2016 | |||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | ||||||||||||
(Dollars in thousands) | |||||||||||||||
Debt securities: | |||||||||||||||
U.S. Government agency and U.S. Government sponsored enterprises | |||||||||||||||
Debt securities | $ | 12,005 | $ | 3 | $ | — | $ | 12,008 | |||||||
Collateralized mortgage obligations (residential) | 715,981 | 349 | (10,663 | ) | 705,667 | ||||||||||
Mortgage-backed securities (residential) | 741,304 | 1,132 | (14,395 | ) | 728,041 | ||||||||||
Corporate securities | 11,576 | — | (449 | ) | 11,127 | ||||||||||
Municipal securities | 88,018 | 358 | (1,537 | ) | 86,839 | ||||||||||
Total debt securities | 1,568,884 | 1,842 | (27,044 | ) | 1,543,682 | ||||||||||
Mutual funds | 13,425 | — | (367 | ) | 13,058 | ||||||||||
Total investment securities available for sale | $ | 1,582,309 | $ | 1,842 | $ | (27,411 | ) | $ | 1,556,740 |
Amortized Cost | Estimated Fair Value | ||||||
(Dollars in thousands) | |||||||
Available for sale: | |||||||
Due within one year | $ | 10,724 | $ | 10,722 | |||
Due after one year through five years | 7,603 | 7,774 | |||||
Due after five years through ten years | 41,483 | 42,101 | |||||
Due after ten years | 52,056 | 51,516 | |||||
U.S. Government agency and U.S. Government sponsored enterprises | |||||||
Collateralized mortgage obligations (residential) | 791,774 | 783,594 | |||||
Mortgage-backed securities (residential) | 780,937 | 771,543 | |||||
Mutual funds | 13,425 | 13,132 | |||||
Total | $ | 1,698,002 | $ | 1,680,382 |
As of June 30, 2017 | |||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Debt securities* | 3 | $ | 9,995 | $ | (6 | ) | — | $ | — | $ | — | 3 | $ | 9,995 | $ | (6 | ) | ||||||||||||||||
Collateralized mortgage obligations (residential)* | 64 | 609,323 | (6,834 | ) | 9 | 73,507 | (1,697 | ) | 73 | 682,830 | (8,531 | ) | |||||||||||||||||||||
Mortgage-backed securities (residential)* | 58 | 608,637 | (10,974 | ) | — | — | — | 58 | 608,637 | (10,974 | ) | ||||||||||||||||||||||
Municipal securities | 21 | 32,835 | (849 | ) | 1 | 519 | (15 | ) | 22 | 33,354 | (864 | ) | |||||||||||||||||||||
Mutual funds | 2 | 6,643 | (73 | ) | 1 | 5,002 | (245 | ) | 3 | 11,645 | (318 | ) | |||||||||||||||||||||
Total | 148 | $ | 1,267,433 | $ | (18,736 | ) | 11 | $ | 79,028 | $ | (1,957 | ) | 159 | $ | 1,346,461 | $ | (20,693 | ) |
As of December 31, 2016 | |||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Collateralized mortgage obligations (residential)* | 66 | $ | 615,803 | $ | (9,459 | ) | 4 | $ | 36,333 | $ | (1,204 | ) | 70 | $ | 652,136 | $ | (10,663 | ) | |||||||||||||||
Mortgage-backed securities (residential)* | 57 | 622,797 | (14,395 | ) | — | — | — | 57 | 622,797 | (14,395 | ) | ||||||||||||||||||||||
Corporate securities | 1 | 7,014 | (2 | ) | 1 | 4,113 | (447 | ) | 2 | 11,127 | (449 | ) | |||||||||||||||||||||
Municipal securities | 95 | 69,331 | (1,537 | ) | — | — | — | 95 | 69,331 | (1,537 | ) | ||||||||||||||||||||||
Mutual funds | 3 | 13,058 | (367 | ) | — | — | — | 3 | 13,058 | (367 | ) | ||||||||||||||||||||||
Total | 222 | $ | 1,328,003 | $ | (25,760 | ) | 5 | $ | 40,446 | $ | (1,651 | ) | 227 | $ | 1,368,449 | $ | (27,411 | ) |
June 30, 2017 | December 31, 2016 | ||||||
(Dollars in thousands) | |||||||
Loan portfolio composition | |||||||
Real estate loans: | |||||||
Residential | $ | 60,544 | $ | 57,884 | |||
Commercial | 8,065,057 | 7,842,573 | |||||
Construction | 306,794 | 254,113 | |||||
Total real estate loans | 8,432,395 | 8,154,570 | |||||
Commercial business | 1,744,103 | 1,832,021 | |||||
Trade finance | 181,400 | 154,928 | |||||
Consumer and other | 460,446 | 403,470 | |||||
Total loans outstanding | 10,818,344 | 10,544,989 | |||||
Deferred loan fees, net | (1,925 | ) | (1,657 | ) | |||
Loans receivable | 10,816,419 | 10,543,332 | |||||
Allowance for loan losses | (80,074 | ) | (79,343 | ) | |||
Loans receivable, net of allowance for loan losses | $ | 10,736,345 | $ | 10,463,989 |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2017 | 2016 | 2017 | 2016 | ||||||||||||
(Dollars in thousands) | |||||||||||||||
Balance at beginning of period | $ | 51,651 | $ | 22,097 | $ | 38,591 | $ | 23,777 | |||||||
Accretion | (5,212 | ) | (2,474 | ) | (10,560 | ) | (5,503 | ) | |||||||
Reclassification from nonaccretable difference | 7,218 | 527 | 25,626 | 1,876 | |||||||||||
Balance at end of period | $ | 53,657 | $ | 20,150 | $ | 53,657 | $ | 20,150 |
Legacy Loans | Acquired Loans | Total | |||||||||||||||||||||||||||||||||
Real Estate | Commercial Business | Trade Finance | Consumer and Other | Real Estate | Commercial Business | Trade Finance | Consumer and Other | ||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2017 | |||||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | 43,929 | $ | 17,479 | $ | 624 | $ | 2,022 | $ | 13,455 | $ | 944 | $ | 187 | $ | 19 | $ | 78,659 | |||||||||||||||||
Provision (credit) for loan losses | (2,596 | ) | 3,741 | 900 | 500 | (69 | ) | 374 | (81 | ) | (9 | ) | 2,760 | ||||||||||||||||||||||
Loans charged off | (892 | ) | (425 | ) | (528 | ) | (241 | ) | 19 | (55 | ) | — | — | (2,122 | ) | ||||||||||||||||||||
Recoveries | 37 | 700 | 4 | 1 | 6 | 28 | — | 1 | 777 | ||||||||||||||||||||||||||
Balance, end of period | $ | 40,478 | $ | 21,495 | $ | 1,000 | $ | 2,282 | $ | 13,411 | $ | 1,291 | $ | 106 | $ | 11 | $ | 80,074 | |||||||||||||||||
Six Months Ended June 30, 2017 | |||||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | 38,956 | $ | 23,430 | $ | 1,897 | $ | 2,116 | $ | 12,791 | $ | 117 | $ | — | $ | 36 | $ | 79,343 | |||||||||||||||||
Provision (credit) for loan losses | 3,510 | 857 | 1,203 | 684 | 906 | 1,122 | 106 | (28 | ) | 8,360 | |||||||||||||||||||||||||
Loans charged off | (2,046 | ) | (3,615 | ) | (2,104 | ) | (520 | ) | (317 | ) | (125 | ) | — | — | (8,727 | ) | |||||||||||||||||||
Recoveries of charge offs | 58 | 823 | 4 | 2 | 31 | 177 | — | 3 | 1,098 | ||||||||||||||||||||||||||
Balance, end of period | $ | 40,478 | $ | 21,495 | $ | 1,000 | $ | 2,282 | $ | 13,411 | $ | 1,291 | $ | 106 | $ | 11 | $ | 80,074 |
Legacy Loans | Acquired Loans | Total | |||||||||||||||||||||||||||||||||
Real Estate | Commercial Business | Trade Finance | Consumer and Other | Real Estate | Commercial Business | Trade Finance | Consumer and Other | ||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2016 | |||||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | 42,115 | $ | 19,048 | $ | 2,085 | $ | 768 | $ | 12,626 | $ | 154 | $ | — | $ | 60 | $ | 76,856 | |||||||||||||||||
Provision (credit) for loan losses | 1,375 | (798 | ) | 364 | 123 | 187 | (42 | ) | — | (9 | ) | 1,200 | |||||||||||||||||||||||
Loans charged off | — | (2,005 | ) | — | (50 | ) | (207 | ) | (33 | ) | — | — | (2,295 | ) | |||||||||||||||||||||
Recoveries | 176 | 331 | — | 85 | 1 | 69 | — | 2 | 664 | ||||||||||||||||||||||||||
Balance, end of period | $ | 43,666 | $ | 16,576 | $ | 2,449 | $ | 926 | $ | 12,607 | $ | 148 | $ | — | $ | 53 | $ | 76,425 | |||||||||||||||||
Six Months Ended June 30, 2016 | |||||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | 42,829 | $ | 16,332 | $ | 3,592 | $ | 556 | $ | 12,823 | $ | 214 | $ | — | $ | 62 | $ | 76,408 | |||||||||||||||||
Provision (credit) for loan losses | 157 | 2,349 | (1,143 | ) | 399 | 105 | (154 | ) | — | (13 | ) | 1,700 | |||||||||||||||||||||||
Loans charged off | (19 | ) | (2,626 | ) | — | (115 | ) | (323 | ) | (33 | ) | — | — | (3,116 | ) | ||||||||||||||||||||
Recoveries of charge offs | 699 | 521 | — | 86 | 2 | 121 | — | 4 | 1,433 | ||||||||||||||||||||||||||
Balance, end of period | $ | 43,666 | $ | 16,576 | $ | 2,449 | $ | 926 | $ | 12,607 | $ | 148 | $ | — | $ | 53 | $ | 76,425 |
June 30, 2017 | |||||||||||||||||||||||||||||||||||
Legacy Loans | Acquired Loans | Total | |||||||||||||||||||||||||||||||||
Real Estate | Commercial Business | Trade Finance | Consumer and Other | Real Estate | Commercial Business | Trade Finance | Consumer and Other | ||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,907 | $ | 6,303 | $ | 3 | $ | 30 | $ | 256 | $ | 451 | $ | — | $ | — | $ | 8,950 | |||||||||||||||||
Collectively evaluated for impairment | 38,571 | 15,192 | 997 | 2,252 | 1,089 | 840 | 106 | 11 | 59,058 | ||||||||||||||||||||||||||
PCI loans | — | — | — | — | 12,066 | — | — | — | 12,066 | ||||||||||||||||||||||||||
Total | $ | 40,478 | $ | 21,495 | $ | 1,000 | $ | 2,282 | $ | 13,411 | $ | 1,291 | $ | 106 | $ | 11 | $ | 80,074 | |||||||||||||||||
Loans outstanding: | |||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 46,357 | $ | 35,487 | $ | 4,182 | $ | 697 | $ | 12,045 | $ | 1,285 | $ | — | $ | 610 | $ | 100,663 | |||||||||||||||||
Collectively evaluated for impairment | 5,829,796 | 1,235,783 | 105,921 | 264,028 | 2,365,273 | 419,050 | 68,108 | 183,065 | 10,471,024 | ||||||||||||||||||||||||||
PCI loans | — | — | — | — | 178,924 | 52,498 | 3,189 | 12,046 | 246,657 | ||||||||||||||||||||||||||
Total | $ | 5,876,153 | $ | 1,271,270 | $ | 110,103 | $ | 264,725 | $ | 2,556,242 | $ | 472,833 | $ | 71,297 | $ | 195,721 | $ | 10,818,344 |
December 31, 2016 | |||||||||||||||||||||||||||||||||||
Legacy Loans | Acquired Loans | Total | |||||||||||||||||||||||||||||||||
Real Estate | Commercial Business | Trade Finance | Consumer and Other | Real Estate | Commercial Business | Trade Finance | Consumer and Other | ||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,889 | $ | 4,420 | $ | 864 | $ | 50 | $ | 113 | $ | 73 | $ | — | $ | — | $ | 7,409 | |||||||||||||||||
Collectively evaluated for impairment | 37,067 | 19,010 | 1,033 | 2,066 | 548 | 44 | — | 36 | 59,804 | ||||||||||||||||||||||||||
PCI loans | — | — | — | — | 12,130 | — | — | — | 12,130 | ||||||||||||||||||||||||||
Total | $ | 38,956 | $ | 23,430 | $ | 1,897 | $ | 2,116 | $ | 12,791 | $ | 117 | $ | — | $ | 36 | $ | 79,343 | |||||||||||||||||
Loans outstanding: | |||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 74,085 | $ | 34,783 | $ | 6,029 | $ | 733 | $ | 23,865 | $ | 435 | $ | — | $ | 431 | $ | 140,361 | |||||||||||||||||
Collectively evaluated for impairment | 5,271,262 | 1,079,348 | 75,365 | 179,961 | 2,597,200 | 650,710 | 70,535 | 206,802 | 10,131,183 | ||||||||||||||||||||||||||
PCI loans | — | — | — | — | 188,158 | 66,745 | 2,999 | 15,543 | 273,445 | ||||||||||||||||||||||||||
Total | $ | 5,345,347 | $ | 1,114,131 | $ | 81,394 | $ | 180,694 | $ | 2,809,223 | $ | 717,890 | $ | 73,534 | $ | 222,776 | $ | 10,544,989 |
June 30, 2017 | December 31, 2016 | ||||||
(Dollars in thousands) | |||||||
With allocated specific allowance | |||||||
Without charge off | $ | 37,636 | $ | 59,638 | |||
With charge off | 2,093 | 1,120 | |||||
With no allocated specific allowance | |||||||
Without charge off | 54,707 | 76,775 | |||||
With charge off | 6,227 | 2,828 | |||||
Specific allowance on impaired loans | (8,950 | ) | (7,409 | ) | |||
Impaired loans, net of specific allowance | $ | 91,713 | $ | 132,952 |
As of June 30, 2017 | As of December 31, 2016 | |||||||||||||||||||||||
Total Impaired Loans | Recorded Investment* | Unpaid Contractual Principal Balance | Related Allowance | Recorded Investment* | Unpaid Contractual Principal Balance | Related Allowance | ||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
With related allowance: | ||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Real estate—commercial | ||||||||||||||||||||||||
Retail | 1,464 | 1,583 | 134 | 2,095 | 2,384 | 90 | ||||||||||||||||||
Hotel & motel | 1,843 | 2,606 | 109 | 6,387 | 6,387 | 337 | ||||||||||||||||||
Gas station & car wash | — | — | — | 215 | 228 | 41 | ||||||||||||||||||
Mixed use | 287 | 2,695 | 3 | 206 | 732 | 27 | ||||||||||||||||||
Industrial & warehouse | 503 | 1,198 | 101 | 530 | 530 | — | ||||||||||||||||||
Other | 4,755 | 5,000 | 1,816 | 22,580 | 22,825 | 1,507 | ||||||||||||||||||
Real estate—construction | — | — | — | — | — | — | ||||||||||||||||||
Commercial business | 26,770 | 27,146 | 6,754 | 26,543 | 27,161 | 4,493 | ||||||||||||||||||
Trade finance | 4,035 | 4,035 | 3 | 2,111 | 2,156 | 864 | ||||||||||||||||||
Consumer and other | 72 | 72 | 30 | 91 | 91 | 50 | ||||||||||||||||||
Subtotal | $ | 39,729 | $ | 44,335 | $ | 8,950 | $ | 60,758 | $ | 62,494 | $ | 7,409 | ||||||||||||
With no related allowance: | ||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | 3,562 | $ | 3,562 | $ | — | ||||||||||||
Real estate—commercial | ||||||||||||||||||||||||
Retail | 9,675 | 11,057 | — | 12,753 | 13,290 | — | ||||||||||||||||||
Hotel & motel | 12,817 | 18,499 | — | 6,122 | 11,735 | — | ||||||||||||||||||
Gas station & car wash | 3,106 | 6,321 | — | 5,043 | 7,449 | — | ||||||||||||||||||
Mixed use | 1,229 | 1,773 | — | 7,303 | 7,822 | — | ||||||||||||||||||
Industrial & warehouse | 8,725 | 8,800 | — | 9,673 | 9,748 | — | ||||||||||||||||||
Other | 12,698 | 13,870 | — | 20,181 | 21,492 | — | ||||||||||||||||||
Real estate—construction | 1,300 | 1,441 | — | 1,300 | 1,441 | — | ||||||||||||||||||
Commercial business | 10,002 | 13,452 | — | 8,675 | 9,472 | — | ||||||||||||||||||
Trade finance | 147 | 147 | — | 3,918 | 3,918 | — | ||||||||||||||||||
Consumer and other | 1,235 | 1,259 | — | 1,073 | 1,136 | — | ||||||||||||||||||
Subtotal | $ | 60,934 | $ | 76,619 | $ | — | $ | 79,603 | $ | 91,065 | $ | — | ||||||||||||
Total | $ | 100,663 | $ | 120,954 | $ | 8,950 | $ | 140,361 | $ | 153,559 | $ | 7,409 |
* | Unpaid contractual principal balance less charge offs, interest collected applied to principal if on nonaccrual and purchase discounts. |
For the Three Months Ended June 30, 2017 | For the Three Months Ended June 30, 2016 | For the Six Months Ended June 30, 2017 | For the Six Months Ended June 30, 2016 | |||||||||||||||||||||||||||||
Total Impaired Loans | Average Recorded Investment* | Interest Income Recognized during Impairment | Average Recorded Investment* | Interest Income Recognized during Impairment | Average Recorded Investment* | Interest Income Recognized during Impairment | Average Recorded Investment* | Interest Income Recognized during Impairment | ||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||||||
With related allowance: | ||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||
Retail | 1,022 | 4 | 1,486 | — | 1,380 | 7 | 1,614 | — | ||||||||||||||||||||||||
Hotel & motel | 4,119 | 16 | 2,925 | 16 | 4,875 | 32 | 3,515 | 32 | ||||||||||||||||||||||||
Gas station & car wash | — | — | 794 | 9 | 72 | — | 1,052 | 19 | ||||||||||||||||||||||||
Mixed use | 268 | 2 | 386 | 2 | 247 | 3 | 445 | 3 | ||||||||||||||||||||||||
Industrial & warehouse | 1,692 | — | 552 | 6 | 1,305 | — | 555 | 12 | ||||||||||||||||||||||||
Other | 13,584 | 60 | 24,257 | 274 | 16,583 | 117 | 24,372 | 550 | ||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Commercial business | 23,154 | 233 | 35,826 | 271 | 24,284 | 456 | 34,393 | 481 | ||||||||||||||||||||||||
Trade finance | 2,018 | 106 | 6,286 | 16 | 2,049 | 157 | 8,373 | 57 | ||||||||||||||||||||||||
Consumer and other | 77 | 1 | 408 | 10 | 82 | 2 | 317 | 17 | ||||||||||||||||||||||||
Subtotal | $ | 45,934 | $ | 422 | $ | 72,920 | $ | 604 | $ | 50,877 | $ | 774 | $ | 74,636 | $ | 1,171 | ||||||||||||||||
With no related allowance: | ||||||||||||||||||||||||||||||||
Real estate—residential | $ | 732 | $ | — | $ | — | $ | — | $ | 1,675 | $ | — | $ | — | $ | — | ||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||
Retail | 13,214 | 82 | 10,029 | 79 | 13,060 | 161 | 10,454 | 160 | ||||||||||||||||||||||||
Hotel & motel | 9,545 | — | 8,922 | 49 | 8,404 | — | 8,479 | 98 | ||||||||||||||||||||||||
Gas station & car wash | 3,633 | — | 5,268 | 25 | 4,103 | — | 4,763 | 50 | ||||||||||||||||||||||||
Mixed use | 3,879 | — | 2,331 | 12 | 5,020 | — | 2,348 | 24 | ||||||||||||||||||||||||
Industrial & warehouse | 8,612 | 58 | 10,957 | 89 | 8,965 | 116 | 10,294 | 179 | ||||||||||||||||||||||||
Other | 14,173 | 81 | 10,676 | 43 | 16,176 | 162 | 11,534 | 85 | ||||||||||||||||||||||||
Real estate—construction | 2,078 | — | 1,321 | — | 1,819 | — | 1,337 | — | ||||||||||||||||||||||||
Commercial business | 9,953 | 41 | 13,022 | 140 | 9,527 | 83 | 12,034 | 281 | ||||||||||||||||||||||||
Trade finance | 2,298 | 2 | 2,225 | 56 | 2,838 | 3 | 1,484 | 109 | ||||||||||||||||||||||||
Consumer and other | 1,070 | 6 | 820 | — | 1,071 | 13 | 991 | 1 | ||||||||||||||||||||||||
Subtotal | $ | 69,187 | $ | 270 | $ | 65,571 | $ | 493 | $ | 72,658 | $ | 538 | $ | 63,718 | $ | 987 | ||||||||||||||||
Total | $ | 115,121 | $ | 692 | $ | 138,491 | $ | 1,097 | $ | 123,535 | $ | 1,312 | $ | 138,354 | $ | 2,158 |
* | Unpaid contractual principal balance less charge offs, interest collected applied to principal if on nonaccrual and purchase discounts. |
As of June 30, 2017 | As of December 31, 2016 | |||||||||||||||||||||||
Impaired Acquired Loans | Recorded Investment* | Unpaid Contractual Principal Balance | Related Allowance | Recorded Investment* | Unpaid Contractual Principal Balance | Related Allowance | ||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
With related allowance: | ||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Real estate—commercial | ||||||||||||||||||||||||
Retail | 1,194 | 1,313 | 128 | 1,826 | 2,114 | 85 | ||||||||||||||||||
Hotel & motel | 260 | 1,005 | 2 | — | — | — | ||||||||||||||||||
Gas station & car wash | — | — | — | — | — | — | ||||||||||||||||||
Mixed use | 248 | 2,099 | 2 | 136 | 136 | 2 | ||||||||||||||||||
Industrial & warehouse | 503 | 1,198 | 101 | — | — | — | ||||||||||||||||||
Other | 328 | 332 | 23 | 337 | 341 | 26 | ||||||||||||||||||
Real estate—construction | — | — | — | — | — | — | ||||||||||||||||||
Commercial business | 714 | 764 | 451 | 294 | 339 | 73 | ||||||||||||||||||
Trade finance | — | — | — | — | — | — | ||||||||||||||||||
Consumer and other | — | — | — | — | — | — | ||||||||||||||||||
Subtotal | $ | 3,247 | $ | 6,711 | $ | 707 | $ | 2,593 | $ | 2,930 | $ | 186 | ||||||||||||
With no related allowance: | ||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | 679 | $ | 679 | $ | — | ||||||||||||
Real estate—commercial | ||||||||||||||||||||||||
Retail | 1,456 | 1,508 | — | 3,148 | 3,214 | — | ||||||||||||||||||
Hotel & motel | 4,807 | 7,285 | — | 4,767 | 7,171 | — | ||||||||||||||||||
Gas station & car wash | 460 | 903 | — | 1,568 | 1,815 | — | ||||||||||||||||||
Mixed use | 46 | 274 | — | 5,315 | 5,551 | — | ||||||||||||||||||
Industrial & warehouse | 64 | 64 | — | 66 | 66 | — | ||||||||||||||||||
Other | 2,679 | 3,234 | — | 6,023 | 6,752 | — | ||||||||||||||||||
Real estate—construction | — | — | — | — | — | — | ||||||||||||||||||
Commercial business | 571 | 641 | — | 141 | 386 | — | ||||||||||||||||||
Trade finance | — | — | — | — | — | — | ||||||||||||||||||
Consumer and other | 610 | 624 | — | 431 | 484 | — | ||||||||||||||||||
Subtotal | $ | 10,693 | $ | 14,533 | $ | — | $ | 22,138 | $ | 26,118 | $ | — | ||||||||||||
Total | $ | 13,940 | $ | 21,244 | $ | 707 | $ | 24,731 | $ | 29,048 | $ | 186 |
* | Unpaid contractual principal balance less charge offs, interest collected applied to principal if on nonaccrual and purchase discounts. |
For the Three Months Ended June 30, 2017 | For the Three Months Ended June 30, 2016 | For the Six Months Ended June 30, 2017 | For the Six Months Ended June 30, 2016 | |||||||||||||||||||||||||||||
Impaired Acquired Loans | Average Recorded Investment* | Interest Income Recognized during Impairment | Average Recorded Investment* | Interest Income Recognized during Impairment | Average Recorded Investment* | Interest Income Recognized during Impairment | Average Recorded Investment* | Interest Income Recognized during Impairment | ||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||||||
With related allowance: | ||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||
Retail | 753 | 4 | 1,103 | — | 1,110 | 7 | 1,125 | — | ||||||||||||||||||||||||
Hotel & motel | 176 | — | — | — | 117 | — | — | — | ||||||||||||||||||||||||
Gas station & car wash | — | — | — | — | — | — | 339 | — | ||||||||||||||||||||||||
Mixed use | 249 | 2 | 316 | 2 | 212 | 3 | 375 | 3 | ||||||||||||||||||||||||
Industrial & warehouse | 251 | — | — | — | 168 | — | — | — | ||||||||||||||||||||||||
Other | 330 | 4 | 324 | 4 | 333 | 8 | 318 | 9 | ||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Commercial business | 744 | — | 506 | 3 | 594 | — | 526 | 6 | ||||||||||||||||||||||||
Trade finance | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Consumer and other | — | — | 80 | 2 | — | — | 53 | 4 | ||||||||||||||||||||||||
Subtotal | $ | 2,503 | $ | 10 | $ | 2,329 | $ | 11 | $ | 2,534 | $ | 18 | $ | 2,736 | $ | 22 | ||||||||||||||||
With no related allowance: | ||||||||||||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | 226 | $ | — | $ | — | $ | — | ||||||||||||||||
Real estate—commercial | ||||||||||||||||||||||||||||||||
Retail | 2,903 | 15 | 2,491 | 26 | 2,985 | 30 | 2,542 | 52 | ||||||||||||||||||||||||
Hotel & motel | 4,823 | — | 5,903 | 3 | 4,805 | — | 6,273 | 7 | ||||||||||||||||||||||||
Gas station & car wash | 539 | — | 1,593 | 25 | 882 | — | 1,458 | 50 | ||||||||||||||||||||||||
Mixed use | 2,664 | — | 271 | 3 | 3,548 | — | 272 | 5 | ||||||||||||||||||||||||
Industrial & warehouse | 65 | 1 | 1,090 | 2 | 65 | 2 | 1,103 | 5 | ||||||||||||||||||||||||
Other | 2,931 | 8 | 3,761 | 13 | 3,961 | 16 | 3,799 | 26 | ||||||||||||||||||||||||
Real estate—construction | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Commercial business | 408 | 7 | 675 | 8 | 319 | 14 | 673 | 17 | ||||||||||||||||||||||||
Trade finance | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Consumer and other | 441 | 2 | 371 | — | 437 | 4 | 467 | 1 | ||||||||||||||||||||||||
Subtotal | $ | 14,774 | $ | 33 | $ | 16,155 | $ | 80 | $ | 17,228 | $ | 66 | $ | 16,587 | $ | 163 | ||||||||||||||||
Total | $ | 17,277 | $ | 43 | $ | 18,484 | $ | 91 | $ | 19,762 | $ | 84 | $ | 19,323 | $ | 185 |
* | Unpaid contractual principal balance less charge offs, interest collected applied to principal if on nonaccrual and purchase discounts. |
As of June 30, 2017 | |||||||||||||||||||||||
Nonaccrual Loans (2) | Total Delinquent and Nonaccrual Loans | ||||||||||||||||||||||
Past Due and Accruing | |||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 or More Days | Total | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Legacy Loans: | |||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
Real estate—commercial | |||||||||||||||||||||||
Retail | 555 | 457 | — | 1,012 | 3,392 | 4,404 | |||||||||||||||||
Hotel & motel | 343 | 1,902 | 1,433 | 3,678 | 8,305 | 11,983 | |||||||||||||||||
Gas station & car wash | — | — | — | — | 2,646 | 2,646 | |||||||||||||||||
Mixed use | 539 | — | — | 539 | 1,221 | 1,760 | |||||||||||||||||
Industrial & warehouse | — | — | — | — | 3,472 | 3,472 | |||||||||||||||||
Other | 3,331 | — | — | 3,331 | 4,092 | 7,423 | |||||||||||||||||
Real estate—construction | — | 7,000 | — | 7,000 | 1,300 | 8,300 | |||||||||||||||||
Commercial business | 919 | 2,245 | — | 3,164 | 12,114 | 15,278 | |||||||||||||||||
Trade finance | 92 | — | — | 92 | — | 92 | |||||||||||||||||
Consumer and other | 131 | 137 | 246 | 514 | 300 | 814 | |||||||||||||||||
Subtotal | $ | 5,910 | $ | 11,741 | $ | 1,679 | $ | 19,330 | $ | 36,842 | $ | 56,172 | |||||||||||
Acquired Loans: (1) | |||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
Real estate—commercial | |||||||||||||||||||||||
Retail | — | 137 | — | 137 | 1,022 | 1,159 | |||||||||||||||||
Hotel & motel | — | — | — | — | 5,067 | 5,067 | |||||||||||||||||
Gas station & car wash | — | — | — | — | 460 | 460 | |||||||||||||||||
Mixed use | 30 | — | — | 30 | 161 | 191 | |||||||||||||||||
Industrial & warehouse | 33 | — | — | 33 | 503 | 536 | |||||||||||||||||
Other | 5,491 | — | 77 | 5,568 | 1,861 | 7,429 | |||||||||||||||||
Real estate—construction | 95 | — | — | 95 | — | 95 | |||||||||||||||||
Commercial business | 660 | 859 | — | 1,519 | 761 | 2,280 | |||||||||||||||||
Trade finance | — | — | — | — | — | — | |||||||||||||||||
Consumer and other | 64 | — | 94 | 158 | 684 | 842 | |||||||||||||||||
Subtotal | $ | 6,373 | $ | 996 | $ | 171 | $ | 7,540 | $ | 10,519 | $ | 18,059 | |||||||||||
TOTAL | $ | 12,283 | $ | 12,737 | $ | 1,850 | $ | 26,870 | $ | 47,361 | $ | 74,231 |
(1) | Acquired Loans exclude PCI loans. |
(2) | Nonaccrual loans exclude guaranteed portion of delinquent SBA loans that are in liquidation totaling $15.5 million. Includes nonaccrual loans less than 30 days past due totaling $14.7 million. |
As of December 31, 2016 | |||||||||||||||||||||||
Nonaccrual Loans (2) | Total Delinquent and Nonaccrual Loans | ||||||||||||||||||||||
Past Due and Accruing | |||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 or More Days | Total | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Legacy Loans: | |||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
Real estate—commercial | |||||||||||||||||||||||
Retail | 480 | — | — | 480 | 3,672 | 4,152 | |||||||||||||||||
Hotel & motel | 1,836 | 3,137 | — | 4,973 | 1,392 | 6,365 | |||||||||||||||||
Gas station & car wash | 362 | — | — | 362 | 3,690 | 4,052 | |||||||||||||||||
Mixed use | — | — | — | — | 1,305 | 1,305 | |||||||||||||||||
Industrial & warehouse | — | 697 | — | 697 | 1,922 | 2,619 | |||||||||||||||||
Other | 2,871 | — | — | 2,871 | 4,007 | 6,878 | |||||||||||||||||
Real estate—construction | — | 1,513 | — | 1,513 | 1,300 | 2,813 | |||||||||||||||||
Commercial business | 558 | 815 | — | 1,373 | 9,371 | 10,744 | |||||||||||||||||
Trade finance | — | 500 | — | 500 | 2,056 | 2,556 | |||||||||||||||||
Consumer and other | 146 | 58 | 305 | 509 | 229 | 738 | |||||||||||||||||
Subtotal | $ | 6,253 | $ | 6,720 | $ | 305 | $ | 13,278 | $ | 28,944 | $ | 42,222 | |||||||||||
Acquired Loans: (1) | |||||||||||||||||||||||
Real estate—residential | $ | — | $ | — | $ | — | $ | — | $ | 679 | $ | 679 | |||||||||||
Real estate—commercial | |||||||||||||||||||||||
Retail | 1,611 | — | — | 1,611 | 1,871 | 3,482 | |||||||||||||||||
Hotel & motel | 95 | — | — | 95 | 4,501 | 4,596 | |||||||||||||||||
Gas station & car wash | 68 | 340 | — | 408 | 993 | 1,401 | |||||||||||||||||
Mixed use | — | — | — | — | 48 | 48 | |||||||||||||||||
Industrial & warehouse | 257 | — | — | 257 | — | 257 | |||||||||||||||||
Other | 350 | — | — | 350 | 2,144 | 2,494 | |||||||||||||||||
Real estate—construction | — | — | — | — | — | — | |||||||||||||||||
Commercial business | 1,303 | 684 | — | 1,987 | 345 | 2,332 | |||||||||||||||||
Trade finance | — | — | — | — | — | — | |||||||||||||||||
Consumer and other | 331 | 25 | — | 356 | 549 | 905 | |||||||||||||||||
Subtotal | $ | 4,015 | $ | 1,049 | $ | — | $ | 5,064 | $ | 11,130 | $ | 16,194 | |||||||||||
TOTAL | $ | 10,268 | $ | 7,769 | $ | 305 | $ | 18,342 | $ | 40,074 | $ | 58,416 |
(1) | Acquired Loans exclude PCI loans. |
(2) | Nonaccrual loans exclude guaranteed portion of delinquent SBA loans that are in liquidation totaling $15.9 million. Includes nonaccrual loans less than 30 days past due totaling $18.3 million. |
• | 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 potential weaknesses 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 borrower or by the collateral pledged, if any. Loans in this classification 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: 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. |
As of June 30, 2017 | |||||||||||||||||||
Pass | Special Mention | Substandard | Doubtful | Total | |||||||||||||||
(Dollars in thousands) | |||||||||||||||||||
Legacy Loans: | |||||||||||||||||||
Real estate—residential | $ | 39,957 | $ | 1,497 | $ | 1,456 | $ | — | $ | 42,910 | |||||||||
Real estate—commercial | |||||||||||||||||||
Retail | 1,468,439 | 23,024 | 20,725 | — | 1,512,188 | ||||||||||||||
Hotel & motel | 1,185,023 | 10,770 | 12,243 | — | 1,208,036 | ||||||||||||||
Gas station & car wash | 675,710 | 11,422 | 6,244 | — | 693,376 | ||||||||||||||
Mixed use | 400,257 | 438 | 1,380 | — | 402,075 | ||||||||||||||
Industrial & warehouse | 570,413 | 21,390 | 9,924 | — | 601,727 | ||||||||||||||
Other | 1,103,423 | 38,537 | 45,035 | — | 1,186,995 | ||||||||||||||
Real estate—construction | 212,195 | 13,774 | 2,877 | — | 228,846 | ||||||||||||||
Commercial business | 1,165,079 | 27,779 | 76,204 | 2,208 | 1,271,270 | ||||||||||||||
Trade finance | 106,218 | 3,738 | 147 | — | 110,103 | ||||||||||||||
Consumer and other | 263,859 | 4 | 862 | — | 264,725 | ||||||||||||||
Subtotal | $ | 7,190,573 | $ | 152,373 | $ | 177,097 | $ | 2,208 | $ | 7,522,251 | |||||||||
Acquired Loans: | |||||||||||||||||||
Real estate—residential | $ | 17,368 | $ | 266 | $ | — | $ | — | $ | 17,634 | |||||||||
Real estate—commercial | |||||||||||||||||||
Retail | 695,235 | 10,389 | 20,013 | — | 725,637 | ||||||||||||||
Hotel & motel | 302,653 | 12,599 | 17,979 | — | 333,231 | ||||||||||||||
Gas station & car wash | 237,757 | 8,135 | 9,444 | — | 255,336 | ||||||||||||||
Mixed use | 108,020 | 5,942 | 11,002 | 8 | 124,972 | ||||||||||||||
Industrial & warehouse | 293,708 | 13,475 | 16,158 | 273 | 323,614 | ||||||||||||||
Other | 639,150 | 38,599 | 20,121 | — | 697,870 | ||||||||||||||
Real estate—construction | 77,948 | — | — | — | 77,948 | ||||||||||||||
Commercial business | 432,487 | 8,592 | 31,302 | 452 | 472,833 | ||||||||||||||
Trade finance | 68,108 | — | 3,189 | — | 71,297 | ||||||||||||||
Consumer and other | 188,840 | 687 | 5,267 | 927 | 195,721 | ||||||||||||||
Subtotal | $ | 3,061,274 | $ | 98,684 | $ | 134,475 | $ | 1,660 | $ | 3,296,093 | |||||||||
Total | $ | 10,251,847 | $ | 251,057 | $ | 311,572 | $ | 3,868 | $ | 10,818,344 |
As of December 31, 2016 | |||||||||||||||||||
Pass | Special Mention | Substandard | Doubtful | Total | |||||||||||||||
(Dollars in thousands) | |||||||||||||||||||
Legacy Loans: | |||||||||||||||||||
Real estate—residential | $ | 34,283 | $ | 223 | $ | 2,883 | $ | — | $ | 37,389 | |||||||||
Real estate—commercial | |||||||||||||||||||
Retail | 1,303,452 | 18,929 | 15,430 | — | 1,337,811 | ||||||||||||||
Hotel & motel | 1,187,709 | 12,763 | 9,026 | — | 1,209,498 | ||||||||||||||
Gas station & car wash | 643,282 | 7,259 | 3,690 | — | 654,231 | ||||||||||||||
Mixed use | 375,312 | — | 1,467 | — | 376,779 | ||||||||||||||
Industrial & warehouse | 478,528 | 29,830 | 13,745 | — | 522,103 | ||||||||||||||
Other | 969,024 | 22,220 | 41,017 | — | 1,032,261 | ||||||||||||||
Real estate—construction | 159,230 | 14,745 | 1,300 | — | 175,275 | ||||||||||||||
Commercial business | 1,032,232 | 15,919 | 65,885 | 95 | 1,114,131 | ||||||||||||||
Trade finance | 68,051 | 5,673 | 7,670 | — | 81,394 | ||||||||||||||
Consumer and other | 179,864 | 1 | 829 | — | 180,694 | ||||||||||||||
Subtotal | $ | 6,430,967 | $ | 127,562 | $ | 162,942 | $ | 95 | $ | 6,721,566 | |||||||||
Acquired Loans: | |||||||||||||||||||
Real estate—residential | $ | 18,007 | $ | 1,809 | $ | 679 | $ | — | $ | 20,495 | |||||||||
Real estate—commercial | |||||||||||||||||||
Retail | 772,465 | 9,860 | 21,110 | — | 803,435 | ||||||||||||||
Hotel & motel | 328,396 | 5,419 | 18,233 | — | 352,048 | ||||||||||||||
Gas station & car wash | 249,379 | 8,437 | 11,338 | — | 269,154 | ||||||||||||||
Mixed use | 118,643 | 3,105 | 12,505 | 8 | 134,261 | ||||||||||||||
Industrial & warehouse | 321,040 | 31,819 | 9,048 | 315 | 362,222 | ||||||||||||||
Other | 736,385 | 23,286 | 29,099 | — | 788,770 | ||||||||||||||
Real estate—construction | 78,838 | — | — | — | 78,838 | ||||||||||||||
Commercial business | 649,186 | 31,340 | 37,265 | 99 | 717,890 | ||||||||||||||
Trade finance | 70,535 | 61 | 2,938 | — | 73,534 | ||||||||||||||
Consumer and other | 214,437 | 958 | 5,949 | 1,432 | 222,776 | ||||||||||||||
Subtotal | $ | 3,557,311 | $ | 116,094 | $ | 148,164 | $ | 1,854 | $ | 3,823,423 | |||||||||
Total | $ | 9,988,278 | $ | 243,656 | $ | 311,106 | $ | 1,949 | $ | 10,544,989 |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2017 | 2016 | 2017 | 2016 | ||||||||||||
Transfer of loans receivable to held for sale | (Dollars in thousands) | ||||||||||||||
Real estate - commercial | $ | 2,671 | $ | — | $ | 11,370 | $ | — | |||||||
Commercial business | 2,243 | — | 2,995 | — | |||||||||||
Consumer | 225 | — | 225 | 400 | |||||||||||
Total | $ | 5,139 | $ | — | $ | 14,590 | $ | 400 |
• | 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. |
As of June 30, 2017 | |||||||||||||||||||||||||||
Real Estate - Residential | Real Estate - Commercial | Real Estate - Construction | Commercial Business | Trade Finance | Consumer and Other | Total | |||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||
Impaired loans (gross carrying value) | $ | — | $ | 57,102 | $ | 1,300 | $ | 36,772 | $ | 4,182 | $ | 1,307 | $ | 100,663 | |||||||||||||
Specific allowance | $ | — | $ | 2,163 | $ | — | $ | 6,754 | $ | 3 | $ | 30 | $ | 8,950 | |||||||||||||
Allowance coverage ratio | N/A | 3.79 | % | — | % | 18.37 | % | 0.07 | % | 2.30 | % | 8.89 | % | ||||||||||||||
Other loans | $ | 60,544 | $ | 8,007,955 | $ | 305,494 | $ | 1,707,331 | $ | 177,218 | $ | 459,139 | $ | 10,717,681 | |||||||||||||
General allowance | $ | 171 | $ | 49,739 | $ | 1,816 | $ | 16,032 | $ | 1,103 | $ | 2,263 | $ | 71,124 | |||||||||||||
Allowance coverage ratio | 0.28 | % | 0.62 | % | 0.59 | % | 0.94 | % | 0.62 | % | 0.49 | % | 0.66 | % | |||||||||||||
Total loans | $ | 60,544 | $ | 8,065,057 | $ | 306,794 | $ | 1,744,103 | $ | 181,400 | $ | 460,446 | $ | 10,818,344 | |||||||||||||
Total allowance for loan losses | $ | 171 | $ | 51,902 | $ | 1,816 | $ | 22,786 | $ | 1,106 | $ | 2,293 | $ | 80,074 | |||||||||||||
Allowance coverage ratio | 0.28 | % | 0.64 | % | 0.59 | % | 1.31 | % | 0.61 | % | 0.50 | % | 0.74 | % |
As of December 31, 2016 | |||||||||||||||||||||||||||
Real Estate - Residential | Real Estate - Commercial | Real Estate - Construction | Commercial Business | Trade Finance | Consumer and Other | Total | |||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||
Impaired loans (gross carrying value) | $ | 3,562 | $ | 93,088 | $ | 1,300 | $ | 35,218 | $ | 6,029 | $ | 1,164 | $ | 140,361 | |||||||||||||
Specific allowance | $ | — | $ | 2,002 | $ | — | $ | 4,493 | $ | 864 | $ | 50 | $ | 7,409 | |||||||||||||
Allowance coverage ratio | — | % | 2.15 | % | — | % | 12.76 | % | 14.33 | % | 4.30 | % | 5.28 | % | |||||||||||||
Other loans | $ | 54,322 | $ | 7,749,485 | $ | 252,813 | $ | 1,796,803 | $ | 148,899 | $ | 402,306 | $ | 10,404,628 | |||||||||||||
General allowance | $ | 209 | $ | 47,915 | $ | 1,621 | $ | 19,054 | $ | 1,033 | $ | 2,102 | $ | 71,934 | |||||||||||||
Allowance coverage ratio | 0.38 | % | 0.62 | % | 0.64 | % | 1.06 | % | 0.69 | % | 0.52 | % | 0.69 | % | |||||||||||||
Total loans | $ | 57,884 | $ | 7,842,573 | $ | 254,113 | $ | 1,832,021 | $ | 154,928 | $ | 403,470 | $ | 10,544,989 | |||||||||||||
Total allowance for loan losses | $ | 209 | $ | 49,917 | $ | 1,621 | $ | 23,547 | $ | 1,897 | $ | 2,152 | $ | 79,343 | |||||||||||||
Allowance coverage ratio | 0.36 | % | 0.64 | % | 0.64 | % | 1.29 | % | 1.22 | % | 0.53 | % | 0.75 | % |
As of June 30, 2017 | |||||||||||||||||||||||||||||||||||
TDRs on Accrual Status | TDRs on Nonaccrual Status | Total | |||||||||||||||||||||||||||||||||
Real Estate | Commercial Business | Other | Total | Real Estate | Commercial Business | Other | Total | ||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||
Payment concession | $ | 16,099 | $ | 201 | $ | — | $ | 16,300 | $ | 1,858 | $ | 1,249 | $ | — | $ | 3,107 | $ | 19,407 | |||||||||||||||||
Maturity / amortization concession | 2,925 | 22,545 | 4,676 | 30,146 | 1,691 | 4,834 | 324 | 6,849 | 36,995 | ||||||||||||||||||||||||||
Rate concession | 5,546 | 1,152 | 146 | 6,844 | 5,395 | 369 | — | 5,764 | 12,608 | ||||||||||||||||||||||||||
Total | $ | 24,570 | $ | 23,898 | $ | 4,822 | $ | 53,290 | $ | 8,944 | $ | 6,452 | $ | 324 | $ | 15,720 | $ | 69,010 |
As of December 31, 2016 | |||||||||||||||||||||||||||||||||||
TDRs on Accrual Status | TDRs on Nonaccrual Status | Total | |||||||||||||||||||||||||||||||||
Real Estate | Commercial Business | Other | Total | Real Estate | Commercial Business | Other | Total | ||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||
Payment concession | $ | 16,358 | $ | 29 | $ | — | $ | 16,387 | $ | 4,417 | $ | 1,717 | $ | — | $ | 6,134 | $ | 22,521 | |||||||||||||||||
Maturity / amortization concession | 1,840 | 17,471 | 4,600 | 23,911 | 1,313 | 6,130 | 2,287 | 9,730 | 33,641 | ||||||||||||||||||||||||||
Rate concession | 6,856 | 1,665 | 55 | 8,576 | 5,590 | 387 | 155 | 6,132 | 14,708 | ||||||||||||||||||||||||||
Total | $ | 25,054 | $ | 19,165 | $ | 4,655 | $ | 48,874 | $ | 11,320 | $ | 8,234 | $ | 2,442 | $ | 21,996 | $ | 70,870 |
Three Months Ended June 30, 2017 | Three Months Ended June 30, 2016 | ||||||||||||||||||||
Number of Loans | Pre- Modification | Post- Modification | Number of Loans | Pre- Modification | Post- Modification | ||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Legacy Loans: | |||||||||||||||||||||
Real estate—commercial | |||||||||||||||||||||
Retail | 1 | $ | 660 | $ | 641 | — | $ | — | $ | — | |||||||||||
Hotel & motel | — | — | — | — | — | — | |||||||||||||||
Gas station & car wash | — | — | — | — | — | — | |||||||||||||||
Mixed use | — | — | — | — | — | — | |||||||||||||||
Industrial & warehouse | — | — | — | — | — | — | |||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Real estate - construction | — | — | — | — | — | — | |||||||||||||||
Commercial business | 3 | 5,193 | 5,163 | 2 | 113 | 114 | |||||||||||||||
Trade finance | — | — | — | — | — | — | |||||||||||||||
Consumer and other | — | — | — | 1 | — | 111 | |||||||||||||||
Subtotal | 4 | $ | 5,853 | $ | 5,804 | 3 | $ | 113 | $ | 225 | |||||||||||
Acquired Loans: | |||||||||||||||||||||
Real estate—commercial | |||||||||||||||||||||
Retail | 1 | $ | 128 | $ | 125 | — | $ | — | $ | — | |||||||||||
Hotel & motel | — | — | — | — | — | — | |||||||||||||||
Gas station & car wash | — | — | — | — | — | — | |||||||||||||||
Mixed use | — | — | — | — | — | — | |||||||||||||||
Industrial & warehouse | — | — | — | — | — | — | |||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Real estate—construction | — | — | — | — | — | — | |||||||||||||||
Commercial business | — | — | — | — | — | — | |||||||||||||||
Trade finance | — | — | — | — | — | — | |||||||||||||||
Consumer and other | — | — | — | — | — | — | |||||||||||||||
Subtotal | 1 | $ | 128 | $ | 125 | — | $ | — | $ | — | |||||||||||
Total | 5 | $ | 5,981 | $ | 5,929 | 3 | $ | 113 | $ | 225 |
Six Months Ended June 30, 2017 | Six Months Ended June 30, 2016 | ||||||||||||||||||||
Number of Loans | Pre- Modification | Post- Modification | Number of Loans | Pre- Modification | Post- Modification | ||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Legacy Loans: | |||||||||||||||||||||
Real estate—commercial | |||||||||||||||||||||
Retail | 1 | $ | 660 | $ | 641 | — | $ | — | $ | — | |||||||||||
Hotel & motel | — | — | — | — | — | — | |||||||||||||||
Gas station & car wash | — | — | — | — | — | — | |||||||||||||||
Mixed use | — | — | — | — | — | — | |||||||||||||||
Industrial & warehouse | — | — | — | — | — | — | |||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Real estate - construction | — | — | — | — | — | — | |||||||||||||||
Commercial business | 5 | 6,873 | 6,379 | 8 | 11,201 | 7,755 | |||||||||||||||
Trade finance | — | — | — | 1 | 2,199 | 1,458 | |||||||||||||||
Consumer and other | — | — | — | 1 | — | 111 | |||||||||||||||
Subtotal | 6 | $ | 7,533 | $ | 7,020 | 10 | $ | 13,400 | $ | 9,324 | |||||||||||
Acquired Loans: | |||||||||||||||||||||
Real estate—commercial | |||||||||||||||||||||
Retail | 2 | $ | 221 | $ | 220 | — | $ | — | $ | — | |||||||||||
Hotel & motel | — | — | — | — | — | — | |||||||||||||||
Gas station & car wash | — | — | — | — | — | — | |||||||||||||||
Mixed use | — | — | — | — | — | — | |||||||||||||||
Industrial & warehouse | — | — | — | — | — | — | |||||||||||||||
Other | — | — | — | — | — | — | |||||||||||||||
Real estate—construction | — | — | — | — | — | — | |||||||||||||||
Commercial business | 2 | 649 | 503 | — | — | — | |||||||||||||||
Trade finance | — | — | — | — | — | — | |||||||||||||||
Consumer and other | — | — | — | 1 | 30 | 27 | |||||||||||||||
Subtotal | 4 | $ | 870 | $ | 723 | 1 | $ | 30 | $ | 27 | |||||||||||
Total | 10 | $ | 8,403 | $ | 7,743 | 11 | $ | 13,430 | $ | 9,351 |
Three Months Ended June 30, 2017 | Three Months Ended June 30, 2016 | ||||||||||||
Number of Loans | Balance | Number of Loans | Balance | ||||||||||
(Dollars In thousands) | |||||||||||||
Legacy Loans: | |||||||||||||
Real estate—commercial | |||||||||||||
Retail | — | $ | — | 1 | $ | 489 | |||||||
Hotel & motel | — | — | — | — | |||||||||
Gas station & car wash | — | — | — | — | |||||||||
Mixed Use | — | — | — | — | |||||||||
Industrial & warehouse | — | — | — | — | |||||||||
Other | 1 | 796 | — | — | |||||||||
Real estate—construction | — | — | — | — | |||||||||
Commercial business | 2 | 846 | 8 | 5,210 | |||||||||
Trade finance | — | — | 1 | 2,886 | |||||||||
Consumer and other | — | — | — | — | |||||||||
Subtotal | 3 | $ | 1,642 | 10 | $ | 8,585 | |||||||
Acquired Loans: | |||||||||||||
Real estate—commercial | |||||||||||||
Retail | — | $ | — | — | $ | — | |||||||
Hotel & motel | — | — | — | — | |||||||||
Gas station & car wash | — | — | — | — | |||||||||
Mixed Use | — | — | — | — | |||||||||
Industrial & warehouse | — | — | — | — | |||||||||
Other | — | — | — | — | |||||||||
Real estate—construction | — | — | — | — | |||||||||
Commercial business | 1 | 10 | — | — | |||||||||
Trade finance | — | — | — | — | |||||||||
Consumer and other | — | — | 1 | 27 | |||||||||
Subtotal | 1 | $ | 10 | 1 | $ | 27 | |||||||
Total | 4 | $ | 1,652 | 11 | $ | 8,612 |
Six Months Ended June 30, 2017 | Six Months Ended June 30, 2016 | |||||||||||||
Number of Loans | Balance | Number of Loans | Balance | |||||||||||
(Dollars In thousands) | ||||||||||||||
Legacy Loans: | ||||||||||||||
Real estate—commercial | ||||||||||||||
Retail | — | $ | — | 1 | $ | 489 | ||||||||
Hotel & motel | — | — | — | — | ||||||||||
Gas station & car wash | — | — | — | — | ||||||||||
Mixed Use | — | — | — | — | ||||||||||
Industrial & warehouse | — | — | — | — | — | |||||||||
Other | 1 | 796 | — | — | ||||||||||
Real estate—construction | — | — | — | — | ||||||||||
Commercial business | 2 | 846 | 8 | 5,210 | ||||||||||
Trade finance | — | — | 1 | 2,886 | ||||||||||
Consumer and other | — | — | — | — | ||||||||||
Subtotal | 3 | $ | 1,642 | 10 | $ | 8,585 | ||||||||
Acquired Loans: | ||||||||||||||
Real estate—commercial | ||||||||||||||
Retail | — | $ | — | — | $ | — | ||||||||
Hotel & motel | — | — | — | — | ||||||||||
Gas station & car wash | — | — | — | — | ||||||||||
Mixed Use | — | — | — | — | ||||||||||
Industrial & warehouse | — | — | — | — | ||||||||||
Other | — | — | — | — | ||||||||||
Real estate—construction | — | — | — | — | ||||||||||
Commercial business | 1 | 10 | — | — | ||||||||||
Trade finance | — | — | — | — | ||||||||||
Consumer and other | — | — | 1 | 27 | ||||||||||
Subtotal | 1 | $ | 10 | 1 | $ | 27 | ||||||||
Total | 4 | $ | 1,652 | 11 | $ | 8,612 |
Contractual Maturities | Maturity/ Put Date | ||||||
(Dollars in thousands) | |||||||
Due within one year | $ | 280,004 | $ | 280,004 | |||
Due after one year through five years | 513,399 | 513,399 | |||||
Total | $ | 793,403 | $ | 793,403 |
Issuance Trust | Issuance Date | Trust Preferred Security Amount | Carrying Value of Debentures | Rate Type | Current Rate | Maturity Date | ||||||||||
(Dollars in thousands) | ||||||||||||||||
Nara Capital Trust III | 06/05/2003 | $ | 5,000 | $ | 5,155 | Variable | 4.40% | 06/15/2033 | ||||||||
Nara Statutory Trust IV | 12/22/2003 | 5,000 | 5,155 | Variable | 4.01% | 01/07/2034 | ||||||||||
Nara Statutory Trust V | 12/17/2003 | 10,000 | 10,310 | Variable | 4.22% | 12/17/2033 | ||||||||||
Nara Statutory Trust VI | 03/22/2007 | 8,000 | 8,248 | Variable | 2.90% | 06/15/2037 | ||||||||||
Center Capital Trust I | 12/30/2003 | 18,000 | 13,731 | Variable | 4.01% | 01/07/2034 | ||||||||||
Wilshire Statutory Trust II | 03/17/2005 | 20,000 | 15,210 | Variable | 3.06% | 03/17/2035 | ||||||||||
Wilshire Statutory Trust III | 09/15/2005 | 15,000 | 10,679 | Variable | 2.65% | 09/15/2035 | ||||||||||
Wilshire Statutory Trust IV | 07/10/2007 | 25,000 | 17,343 | Variable | 2.63% | 09/15/2037 | ||||||||||
Saehan Capital Trust I | 03/30/2007 | 20,000 | 14,497 | Variable | 2.92% | 06/30/2037 | ||||||||||
Total | $ | 126,000 | $ | 100,328 |
As of June 30, 2017 | As of December 31, 2016 | |||||||
(Dollars in thousands) | ||||||||
Interest rate swaps on loans with loan customers: | ||||||||
Notional amount | $ | 274,049 | $ | 223,098 | ||||
Weighted average remaining term | 7.7 years | 7.4 years | ||||||
Received fixed rate (weighted average) | 4.34 | % | 4.29 | % | ||||
Pay variable rate (weighted average) | 3.44 | % | 3.06 | % | ||||
Estimated fair value | $ | (216 | ) | $ | (1,565 | ) | ||
Back to back interest rate swaps with correspondent banks: | ||||||||
Notional amount | $ | 274,049 | $ | 223,098 | ||||
Weighted average remaining term | 7.7 years | 7.4 years | ||||||
Received variable rate (weighted average) | 3.44 | % | 3.06 | % | ||||
Pay fixed rate (weighted average) | 4.34 | % | 4.29 | % | ||||
Estimated fair value | $ | 216 | $ | 1,565 |
As of June 30, 2017 | As of December 31, 2016 | ||||||||||||||
Notional Amount | Fair Value | Notional Amount | Fair Value | ||||||||||||
(Dollars in thousands) | |||||||||||||||
Assets: | |||||||||||||||
Interest rate lock commitments | $ | 4,207 | $ | 31 | $ | 11,168 | $ | 130 | |||||||
Forward sale contracts related to mortgage banking | $ | 6,143 | $ | 19 | $ | 3,223 | $ | 17 | |||||||
Liabilities: | |||||||||||||||
Interest rate lock commitments | $ | 2,732 | $ | (7 | ) | $ | 1,810 | $ | (3 | ) | |||||
Forward sale contracts related to mortgage banking | $ | 796 | $ | (2 | ) | $ | 9,755 | $ | (38 | ) |
June 30, 2017 | December 31, 2016 | ||||||
(Dollars in thousands) | |||||||
Commitments to extend credit | $ | 1,567,393 | $ | 1,592,221 | |||
Standby letters of credit | 75,941 | 63,753 | |||||
Other letters of credit | 67,202 | 52,125 | |||||
Commitments to fund investments in affordable housing partnerships | 43,929 | 24,409 | |||||
Interest rate lock | 24,533 | 23,749 | |||||
Forward sale commitments | 6,939 | 12,978 | |||||
Operating lease commitments | 52,124 | 51,059 |
As of June 30, 2017 | |||||||||
Amortization period | Gross Carrying Amount | Accumulated Amortization | |||||||
(Dollars in thousands) | |||||||||
Core deposit—Center Financial acquisition | 7 years | $ | 4,100 | $ | (3,825 | ) | |||
Core deposit—PIB acquisition | 7 years | 603 | (500 | ) | |||||
Core deposit—Foster acquisition | 10 years | 2,763 | (1,490 | ) | |||||
Core deposit—Wilshire acquisition | 10 years | 18,138 | (1,915 | ) | |||||
Total | $ | 25,604 | $ | (7,730 | ) |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
(Dollars in thousands) | ||||||||||||||||
Balance at beginning of period | $ | 25,941 | $ | 11,856 | $ | 26,457 | $ | 12,000 | ||||||||
Additions through originations of servicing assets | 1,316 | 1,309 | 2,612 | 2,087 | ||||||||||||
Amortization | (1,919 | ) | (972 | ) | (3,731 | ) | (1,894 | ) | ||||||||
Balance at end of period | $ | 25,338 | $ | 12,193 | $ | 25,338 | $ | 12,193 |
June 30, 2017 | December 31, 2016 | |||||||
SBA Servicing Assets: | ||||||||
Weighted-average discount rate | 10.13% | 9.85% | ||||||
Constant prepayment rate | 8.20% | 8.05% | ||||||
Mortgage Servicing Assets: | ||||||||
Weighted-average discount rate | 9.63% | 7.25% | ||||||
Constant prepayment rate | 9.13% | 13.77% |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||
Statutory tax rate | 35.00 | % | 35.00 | % | 35.00 | % | 35.00 | % | ||||
State taxes-net of federal tax effect | 7.16 | % | 7.27 | % | 7.16 | % | 7.27 | % | ||||
Affordable housing partnership investment tax credit | (3.15 | )% | (1.30 | )% | (3.15 | )% | (1.30 | )% | ||||
Bank owned life insurance | (0.16 | )% | (0.24 | )% | (0.16 | )% | (0.24 | )% | ||||
Municipal securities | (0.25 | )% | (0.21 | )% | (0.25 | )% | (0.21 | )% | ||||
Nondeductible transaction costs | 0.08 | % | 0.52 | % | 0.08 | % | 0.52 | % | ||||
Other | (0.20 | )% | 0.81 | % | (0.03 | )% | 0.24 | % | ||||
Effective income tax rate | 38.48 | % | 41.85 | % | 38.65 | % | 41.28 | % |
Fair Value Measurements at the End of the Reporting Period Using | |||||||||||||||
June 30, 2017 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||
(Dollars in thousands) | |||||||||||||||
Assets: | |||||||||||||||
Securities available for sale: | |||||||||||||||
GSE debt securities | $ | 9,995 | $ | — | $ | 9,995 | $ | — | |||||||
GSE collateralized mortgage obligations (residential) | 783,594 | — | 783,594 | — | |||||||||||
GSE mortgage-backed securities (residential) | 771,543 | — | 771,543 | — | |||||||||||
Corporate securities | 4,606 | — | 4,606 | — | |||||||||||
Municipal securities | 97,512 | — | 96,385 | 1,127 | |||||||||||
Mutual funds | 13,132 | 13,132 | — | — | |||||||||||
Interest rate swaps | (216 | ) | — | (216 | ) | — | |||||||||
Mortgage banking derivatives | 50 | — | 50 | — | |||||||||||
Liabilities: | |||||||||||||||
Interest rate swaps | (216 | ) | — | (216 | ) | — | |||||||||
Mortgage banking derivatives | 9 | — | 9 | — |
Fair Value Measurements at the End of the Reporting Period Using | |||||||||||||||
December 31, 2016 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||
(Dollars in thousands) | |||||||||||||||
Assets: | |||||||||||||||
Securities available for sale: | |||||||||||||||
GSE debt securities | $ | 12,008 | $ | — | $ | 12,008 | $ | — | |||||||
GSE collateralized mortgage obligations (residential) | 705,667 | — | 705,667 | — | |||||||||||
GSE mortgage-backed securities (residential) | 728,041 | — | 728,041 | — | |||||||||||
Corporate securities | 11,127 | — | 11,127 | — | |||||||||||
Municipal securities | 86,839 | — | 85,700 | 1,139 | |||||||||||
Mutual funds | 13,058 | 13,058 | — | — | |||||||||||
Interest rate swaps | (1,565 | ) | — | (1,565 | ) | — | |||||||||
Mortgage banking derivatives | 147 | — | 147 | — | |||||||||||
Liabilities: | |||||||||||||||
Interest rate swaps | (1,565 | ) | — | (1,565 | ) | — | |||||||||
Mortgage banking derivatives | 41 | — | 41 | — |
As of June 30, 2017 | As of December 31, 2016 | ||||||||||||||
Notional Amount | Fair Value | Notional Amount | Fair Value | ||||||||||||
(Dollars in thousands) | |||||||||||||||
Assets: | |||||||||||||||
Interest rate lock commitments | $ | 4,207 | $ | 31 | $ | 11,168 | $ | 130 | |||||||
Forward sale contracts related to mortgage banking | $ | 6,143 | $ | 19 | $ | 3,223 | $ | 17 | |||||||
Liabilities: | |||||||||||||||
Interest rate lock commitments | $ | 2,732 | $ | (7 | ) | $ | 1,810 | $ | (3 | ) | |||||
Forward sale contracts related to mortgage banking | $ | 796 | $ | (2 | ) | $ | 9,755 | $ | (38 | ) |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
(Dollars in thousands) | ||||||||||||||||
Beginning Balance | $ | 1,128 | $ | 1,209 | $ | 1,139 | $ | 1,166 | ||||||||
Total (losses) gains included in other comprehensive income | (1 | ) | 25 | (12 | ) | 68 | ||||||||||
Ending Balance | $ | 1,127 | $ | 1,234 | $ | 1,127 | $ | 1,234 |
Fair Value Measurements at the End of the Reporting Period Using | |||||||||||||||
June 30, 2017 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||
(Dollars in thousands) | |||||||||||||||
Assets: | |||||||||||||||
Impaired loans at fair value: | |||||||||||||||
Real estate loans | $ | 11,764 | $ | — | $ | — | $ | 11,764 | |||||||
Commercial business | 6,152 | — | — | 6,152 | |||||||||||
Loans held for sale, net | 773 | — | 773 | — | |||||||||||
OREO | 12,231 | — | — | 12,231 |
Fair Value Measurements at the End of the Reporting Period Using | |||||||||||||||
December 31, 2016 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||
(Dollars in thousands) | |||||||||||||||
Assets: | |||||||||||||||
Impaired loans at fair value: | |||||||||||||||
Real estate loans | $ | 58,882 | $ | — | $ | — | $ | 58,882 | |||||||
Commercial business | 6,563 | — | — | 6,563 | |||||||||||
Consumer | 253 | — | — | 253 | |||||||||||
Loans held for sale, net | 3,788 | — | 3,788 | — | |||||||||||
OREO | 21,990 | — | — | 21,990 |
For the Three Months Ended June 30, | For the Six Months Ended June 30, | ||||||||||||||
2017 | 2016 | 2017 | 2016 | ||||||||||||
(Dollars in thousands) | |||||||||||||||
Assets: | |||||||||||||||
Impaired loans at fair value: | |||||||||||||||
Real estate loans | $ | (433 | ) | $ | (58 | ) | $ | (2,435 | ) | $ | 251 | ||||
Commercial business | (4,027 | ) | (176 | ) | (5,001 | ) | (2,848 | ) | |||||||
Trade Finance | (527 | ) | (215 | ) | (1,239 | ) | 1,081 | ||||||||
Consumer | (229 | ) | (32 | ) | (495 | ) | (94 | ) | |||||||
Loans held for sale, net | 353 | 43 | 772 | 43 | |||||||||||
OREO | (733 | ) | (668 | ) | (1,328 | ) | (1,245 | ) |
June 30, 2017 | |||||||||
Carrying Amount | Estimated Fair Value | Fair Value Measurement Using | |||||||
(Dollars in thousands) | |||||||||
Financial Assets: | |||||||||
Cash and cash equivalents | $ | 446,415 | $ | 446,415 | Level 1 | ||||
Interest bearing deposits in other financial institutions and other investments | 43,962 | 43,238 | Level 2/3 | ||||||
Loans held for sale | 16,927 | 17,861 | Level 2 | ||||||
Loans receivable—net | 10,736,345 | 10,833,880 | Level 3 | ||||||
FHLB stock | 22,351 | N/A | N/A | ||||||
Accrued interest receivable | 25,640 | 25,640 | Level 2/3 | ||||||
Servicing assets | 25,338 | 25,338 | Level 3 | ||||||
Customers’ liabilities on acceptances | 1,669 | 1,669 | Level 2 | ||||||
Financial Liabilities: | |||||||||
Noninterest bearing deposits | $ | 3,016,538 | $ | 3,016,538 | Level 2 | ||||
Saving and other interest bearing demand deposits | 3,838,676 | 3,838,676 | Level 2 | ||||||
Time deposits | 4,099,887 | 4,094,549 | Level 2 | ||||||
FHLB advances | 793,403 | 789,347 | Level 2 | ||||||
Subordinated debentures | 100,328 | 100,328 | Level 2 | ||||||
Accrued interest payable | 11,855 | 11,855 | Level 2 | ||||||
Acceptances outstanding | 1,669 | 1,669 | Level 2 | ||||||
December 31, 2016 | |||||||||
Carrying Amount | Estimated Fair Value | Fair Value Measurement Using | |||||||
(Dollars in thousands) | |||||||||
Financial Assets: | |||||||||
Cash and cash equivalents | $ | 437,334 | $ | 437,334 | Level 1 | ||||
Interest bearing deposits in other financial institutions and other investments | 44,202 | 43,773 | Level 2/3 | ||||||
Loans held for sale | 22,785 | 24,492 | Level 2 | ||||||
Loans receivable—net | 10,463,989 | 10,666,642 | Level 3 | ||||||
FHLB stock | 21,964 | N/A | N/A | ||||||
Accrued interest receivable | 26,880 | 26,880 | Level 2/3 | ||||||
Servicing assets | 26,457 | 26,457 | Level 3 | ||||||
Customers’ liabilities on acceptances | 2,899 | 2,899 | Level 2 | ||||||
Financial Liabilities: | |||||||||
Noninterest bearing deposits | $ | 2,900,241 | $ | 2,900,241 | Level 2 | ||||
Saving and other interest bearing demand deposits | 3,703,352 | 3,703,352 | Level 2 | ||||||
Time deposits | 4,038,442 | 4,036,664 | Level 2 | ||||||
FHLB advances | 754,290 | 749,486 | Level 2 | ||||||
Subordinated debentures | 99,808 | 99,808 | Level 2 | ||||||
Accrued interest payable | 10,863 | 10,863 | Level 2 | ||||||
Acceptances outstanding | 2,899 | 2,899 | Level 2 |
Three Months Ended, | |||||||
June 30, 2017 | June 30, 2016 | ||||||
(Dollars in thousands) | |||||||
Balance at beginning of period | $ | (12,849 | ) | $ | 7,155 | ||
Unrealized gains on securities available for sale and interest only strips | 4,776 | 6,603 | |||||
Less tax effect | 2,016 | 2,784 | |||||
Total other comprehensive income | 2,760 | 3,819 | |||||
Balance at end of period | $ | (10,089 | ) | $ | 10,974 |
Six Months Ended, | |||||||
June 30, 2017 | June 30, 2016 | ||||||
(Dollars in thousands) | |||||||
Balance at beginning of period | $ | (14,657 | ) | $ | (1,832 | ) | |
Unrealized gains on securities available for sale and interest only strips | 7,908 | 22,195 | |||||
Less tax effect | 3,340 | 9,389 | |||||
Total other comprehensive income | 4,568 | 12,806 | |||||
Balance at end of period | $ | (10,089 | ) | $ | 10,974 |
• | 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 is being 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. The capital conservation buffer for the Company was initially 0.625% in 2016, and increases 0.625% annually until 2019. As of June 30, 2017, the capital conservation buffer for the Company stood at 1.25%. |
Actual | Required For Capital Adequacy Purposes | Minimum Capital Adequacy With Capital Buffer | Required To Be Well Capitalized Under Prompt Corrective Action Provisions | ||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||
As of June 30, 2017 | |||||||||||||||||||||||||||
Common equity tier 1 capital (to risk weighted assets): | |||||||||||||||||||||||||||
Company | $ | 1,438,907 | 12.18 | % | $ | 531,657 | 4.50 | % | $ | 679,340 | 5.750 | % | N/A | N/A | |||||||||||||
Bank | $ | 1,514,997 | 12.83 | % | $ | 531,376 | 4.50 | % | $ | 678,980 | 5.750 | % | $ | 767,543 | 6.50 | % | |||||||||||
Total capital (to risk-weighted assets): | |||||||||||||||||||||||||||
Company | $ | 1,619,043 | 13.70 | % | $ | 945,169 | 8.00 | % | $ | 1,092,851 | 9.250 | % | N/A | N/A | |||||||||||||
Bank | $ | 1,598,707 | 13.54 | % | $ | 944,668 | 8.00 | % | $ | 1,092,273 | 9.250 | % | $ | 1,180,835 | 10.00 | % | |||||||||||
Tier I capital (to risk-weighted assets): | |||||||||||||||||||||||||||
Company | $ | 1,535,333 | 13.00 | % | $ | 708,876 | 6.00 | % | $ | 856,559 | 7.250 | % | N/A | N/A | |||||||||||||
Bank | $ | 1,514,997 | 12.83 | % | $ | 708,501 | 6.00 | % | $ | 678,980 | 7.250 | % | $ | 944,668 | 8.00 | % | |||||||||||
Tier I capital (to average assets): | |||||||||||||||||||||||||||
Company | $ | 1,535,333 | 11.80 | % | $ | 520,617 | 4.00 | % | N/A | N/A | N/A | N/A | |||||||||||||||
Bank | $ | 1,514,997 | 11.64 | % | $ | 520,527 | 4.00 | % | N/A | N/A | $ | 650,659 | 5.00 | % |
Actual | Required For Capital Adequacy Purposes | Minimum Capital Adequacy With Capital Buffer | Required To Be Well Capitalized Under Prompt Corrective Action Provisions | ||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||
As of December 31, 2016 | |||||||||||||||||||||||||||
Common equity tier 1 capital (to risk weighted assets): | |||||||||||||||||||||||||||
Company | $ | 1,400,246 | 12.10 | % | $ | 520,917 | 4.50 | % | $ | 593,267 | 5.125 | % | N/A | N/A | |||||||||||||
Bank | $ | 1,475,228 | 12.75 | % | $ | 520,631 | 4.50 | % | $ | 592,941 | 5.125 | % | $ | 752,022 | 6.50 | % | |||||||||||
Total capital (to risk-weighted assets): | |||||||||||||||||||||||||||
Company | $ | 1,578,690 | 13.64 | % | $ | 926,076 | 8.00 | % | $ | 998,425 | 8.625 | % | N/A | N/A | |||||||||||||
Bank | $ | 1,557,765 | 13.46 | % | $ | 925,566 | 8.00 | % | $ | 997,876 | 8.625 | % | $ | 1,156,957 | 10.00 | % | |||||||||||
Tier I capital (to risk-weighted assets): | |||||||||||||||||||||||||||
Company | $ | 1,496,153 | 12.92 | % | $ | 694,557 | 6.00 | % | $ | 766,906 | 6.625 | % | N/A | N/A | |||||||||||||
Bank | $ | 1,475,228 | 12.75 | % | $ | 694,174 | 6.00 | % | $ | 766,484 | 6.625 | % | $ | 925,566 | 8.00 | % | |||||||||||
Tier I capital (to average assets): | |||||||||||||||||||||||||||
Company | $ | 1,496,153 | 11.49 | % | $ | 520,947 | 4.00 | % | N/A | N/A | N/A | N/A | |||||||||||||||
Bank | $ | 1,475,228 | 11.33 | % | $ | 520,903 | 4.00 | % | N/A | N/A | $ | 651,129 | 5.00 | % |
Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) |
At or for the Three Months Ended June 30, | At or for the Six Months Ended June 30, | ||||||||||||||
2017 | 2016 | 2017 | 2016 | ||||||||||||
(Dollars in thousands, except share and per share data) | |||||||||||||||
Income Statement Data: | |||||||||||||||
Interest income | $ | 138,533 | $ | 83,534 | $ | 271,276 | $ | 166,995 | |||||||
Interest expense | 21,713 | 12,470 | 39,551 | 24,324 | |||||||||||
Net interest income | 116,820 | 71,064 | 231,725 | 142,671 | |||||||||||
Provision for loan losses | 2,760 | 1,200 | 8,360 | 1,700 | |||||||||||
Net interest income after provision for loan losses | 114,060 | 69,864 | 223,365 | 140,971 | |||||||||||
Noninterest income | 16,115 | 10,707 | 33,718 | 19,482 | |||||||||||
Noninterest expense | 64,037 | 40,348 | 131,736 | 80,397 | |||||||||||
Income before income tax provision | 66,138 | 40,223 | 125,347 | 80,056 | |||||||||||
Income tax provision | 25,451 | 16,833 | 48,450 | 33,043 | |||||||||||
Net income | $ | 40,687 | $ | 23,390 | $ | 76,897 | $ | 47,013 | |||||||
Per Share Data: | |||||||||||||||
Earnings per common share - basic | $ | 0.30 | $ | 0.29 | $ | 0.57 | $ | 0.59 | |||||||
Earnings per common share - diluted | $ | 0.30 | $ | 0.29 | $ | 0.57 | $ | 0.59 | |||||||
Book value per common share (period end) | $ | 14.09 | $ | 12.21 | $ | 14.09 | $ | 12.21 | |||||||
Cash dividends declared per common share | $ | 0.12 | $ | 0.11 | $ | 0.24 | $ | 0.22 | |||||||
Tangible book value per common share (period end) (9) | $ | 10.52 | $ | 10.85 | $ | 10.52 | $ | 10.85 | |||||||
Number of common shares outstanding (period end) | 135,297,678 | 79,606,821 | 135,297,678 | 79,606,821 | |||||||||||
Weighted average shares - basic | 135,257,044 | 79,604,673 | 135,252,556 | 79,595,599 | |||||||||||
Weighted average shares - diluted | 135,613,181 | 79,634,762 | 135,685,064 | 79,625,673 | |||||||||||
Tangible common equity to tangible assets | 10.64 | % | 10.50 | % | 10.64 | % | 10.50 | % | |||||||
Average Balance Sheet Data: | |||||||||||||||
Assets | $ | 13,470,745 | $ | 8,157,358 | $ | 13,403,609 | $ | 8,016,649 | |||||||
Securities available for sale | 1,609,310 | 1,089,080 | 1,588,519 | 1,052,972 | |||||||||||
Loans receivable and loans held for sale | 10,536,428 | 6,457,883 | 10,459,527 | 6,363,656 | |||||||||||
Deposits | 10,680,094 | 6,517,159 | 10,644,302 | 6,403,931 | |||||||||||
Stockholders’ equity | 1,892,126 | 967,919 | 1,880,626 | 956,777 |
For the Three Months Ended June 30, | For the Six Months Ended June 30, | ||||||||||||
2017 | 2016 | 2017 | 2016 | ||||||||||
Selected Performance Ratios: | |||||||||||||
Return on average assets (1) | 1.21 | % | 1.15 | % | 1.15 | % | 1.17 | % | |||||
Return on average stockholders’ equity (1) | 8.60 | % | 9.67 | % | 8.18 | % | 9.83 | % | |||||
Return on average tangible equity (1) (8) | 11.54 | % | 10.88 | % | 11.00 | % | 11.08 | % | |||||
Dividend payout ratio (dividends per share / earnings per share) | 40.00 | % | 37.93 | % | 42.35 | % | 37.29 | % | |||||
Efficiency ratio (2) | 48.17 | % | 49.34 | % | 49.63 | % | 49.58 | % | |||||
Net interest spread | 3.42 | % | 3.39 | % | 3.46 | % | 3.47 | % | |||||
Net interest margin (3) | 3.75 | % | 3.67 | % | 3.76 | % | 3.75 | % | |||||
At June 30, | |||||||||||||
2017 | 2016 | ||||||||||||
(Dollars in thousands) | |||||||||||||
Statement of Financial Condition Data - at Period End: | |||||||||||||
Assets | $ | 13,859,217 | $ | 8,336,826 | |||||||||
Securities available for sale | 1,680,382 | 1,099,944 | |||||||||||
Loans receivable | 10,816,419 | 6,584,237 | |||||||||||
Deposits | 10,955,101 | 6,637,522 | |||||||||||
FHLB advances | 793,403 | 610,398 | |||||||||||
Subordinated debentures | 100,328 | 42,415 | |||||||||||
Stockholders’ equity | 1,906,294 | 971,740 | |||||||||||
Regulatory Capital Ratios (4) | |||||||||||||
Leverage capital ratio (5) | 11.80 | % | 11.14 | % | |||||||||
Tier 1 risk-based capital ratio | 13.00 | % | 12.22 | % | |||||||||
Total risk-based capital ratio | 13.70 | % | 13.28 | % | |||||||||
Common equity tier 1 capital ratio (10) | 12.18 | % | 11.66 | % | |||||||||
Asset Quality Ratios: | |||||||||||||
Allowance for loan losses to loans receivable | 0.74 | % | 1.16 | % | |||||||||
Allowance for loan losses to nonaccrual loans | 169.07 | % | 180.26 | % | |||||||||
Allowance for loan losses to nonperforming loans (6) | 78.12 | % | 81.84 | % | |||||||||
Allowance for loan losses to nonperforming assets (7) | 64.40 | % | 69.62 | % | |||||||||
Nonaccrual loans to loans receivable | 0.44 | % | 0.64 | % | |||||||||
Nonperforming loans to loans receivable (6) | 0.95 | % | 1.42 | % | |||||||||
Nonperforming assets to loans receivable and OREO (7) | 1.15 | % | 1.66 | % | |||||||||
Nonperforming assets to total assets (7) | 0.90 | % | 1.32 | % |
(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 5.0% leverage capital, 8.0% tier I risk-based capital, 10.0% 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, loans past due 90 days or more and still accruing interest, and accruing restructured loans (excluding PCI loans). |
(7) | Nonperforming assets consist of nonperforming loans and OREO. |
(8) | 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. |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
(Dollars in thousands) | ||||||||||||||||
Net income | $ | 40,687 | $ | 23,390 | $ | 76,897 | $ | 47,013 | ||||||||
Average stockholders’ equity | 1,892,126 | $ | 967,919 | $ | 1,880,626 | $ | 956,777 | |||||||||
Less: Average goodwill and core deposit intangible assets, net | (482,270 | ) | (107,916 | ) | (482,128 | ) | (108,018 | ) | ||||||||
Average tangible equity | $ | 1,409,856 | $ | 860,003 | $ | 1,398,498 | $ | 848,759 | ||||||||
Net income (annualized) to average tangible equity | 11.54 | % | 10.88 | % | 11.00 | % | 11.08 | % |
June 30, 2017 | June 30, 2016 | |||||||
(Dollars in thousands, except share data) | ||||||||
Total stockholders’ equity | $ | 1,906,294 | $ | 971,740 | ||||
Less: Goodwill and core deposit intangible assets, net | (482,324 | ) | (107,796 | ) | ||||
Tangible common equity | $ | 1,423,970 | $ | 863,944 | ||||
Common shares outstanding | 135,297,678 | 79,606,821 | ||||||
Tangible book value per common share9 | $ | 10.52 | $ | 10.85 |
June 30, 2017 | June 30, 2016 | |||||||
(Dollars in thousands) | ||||||||
Tier 1 capital | $ | 1,535,333 | $ | 895,429 | ||||
Less: Trust preferred securities less unamortized acquisition discount | (96,426 | ) | (40,991 | ) | ||||
Common equity tier 1 capital | $ | 1,438,907 | $ | 854,438 | ||||
Total risk weighted assets less disallowed allowance for loan losses | $ | 11,814,607 | $ | 7,329,482 | ||||
Common equity tier 1 capital ratio10 | 12.18 | % | 11.66 | % |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2017 | 2016 | 2017 | 2016 | ||||||||||||
(Dollars in thousands) | |||||||||||||||
Accretion of discounts on acquired performing loans | $ | 3,501 | $ | 898 | $ | 6,177 | $ | 2,864 | |||||||
Accretion of discounts on purchased credit impaired loans | 5,212 | 2,474 | 10,560 | 5,503 | |||||||||||
Amortization/accretion of premiums or discounts on low income housing tax credit investments | (85 | ) | 6 | (169 | ) | 12 | |||||||||
Amortization of premiums on assumed FHLB advances | 446 | 97 | 887 | 194 | |||||||||||
Accretion of discounts on assumed subordinated debt | (261 | ) | (44 | ) | (520 | ) | (88 | ) | |||||||
Amortization of premiums on assumed time deposits and savings | 1,218 | 19 | 4,694 | 43 | |||||||||||
Amortization of core deposit intangibles | (676 | ) | (212 | ) | (1,352 | ) | (425 | ) | |||||||
Total | $ | 9,355 | $ | 3,238 | $ | 20,277 | $ | 8,103 |
Three Months Ended June 30, 2017 | Three Months Ended June 30, 2016 | ||||||||||||||||||||
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) | $ | 10,536,428 | $ | 128,515 | 4.89 | % | $ | 6,457,883 | $ | 77,086 | 4.80 | % | |||||||||
Securities available for sale(3) | 1,609,310 | 8,741 | 2.18 | % | 1,089,080 | 5,729 | 2.10 | % | |||||||||||||
FRB and FHLB stock and other investments | 364,906 | 1,277 | 1.40 | % | 237,872 | 719 | 1.20 | % | |||||||||||||
Total interest earning assets | 12,510,644 | 138,533 | 4.44 | % | 7,784,835 | 83,534 | 4.32 | % | |||||||||||||
Total noninterest earning assets | 960,101 | 372,523 | |||||||||||||||||||
Total assets | $ | 13,470,745 | $ | 8,157,358 | |||||||||||||||||
INTEREST BEARING LIABILITIES: | |||||||||||||||||||||
Deposits: | |||||||||||||||||||||
Demand, interest bearing | $ | 3,457,412 | $ | 7,974 | 0.93 | % | $ | 2,030,272 | $ | 4,147 | 0.82 | % | |||||||||
Savings | 280,188 | 279 | 0.40 | % | 178,249 | 285 | 0.64 | % | |||||||||||||
Time deposits | 4,012,838 | 9,861 | 0.99 | % | 2,636,652 | 5,920 | 0.90 | % | |||||||||||||
Total interest bearing deposits | 7,750,438 | 18,114 | 0.94 | % | 4,845,173 | 10,352 | 0.86 | % | |||||||||||||
FHLB advances | 713,858 | 2,338 | 1.31 | % | 564,637 | 1,686 | 1.20 | % | |||||||||||||
Other borrowings | 96,218 | 1,261 | 5.18 | % | 40,861 | 432 | 4.18 | % | |||||||||||||
Total interest bearing liabilities | 8,560,514 | 21,713 | 1.02 | % | 5,450,671 | 12,470 | 0.92 | % | |||||||||||||
Noninterest bearing liabilities and equity: | |||||||||||||||||||||
Noninterest bearing demand deposits | 2,929,656 | 1,671,986 | |||||||||||||||||||
Other liabilities | 88,449 | 66,782 | |||||||||||||||||||
Stockholders’ equity | 1,892,126 | 967,919 | |||||||||||||||||||
Total liabilities and stockholders’ equity | $ | 13,470,745 | $ | 8,157,358 | |||||||||||||||||
Net interest income/net interest spread | $ | 116,820 | 3.42 | % | $ | 71,064 | 3.39 | % | |||||||||||||
Net interest margin | 3.75 | % | 3.67 | % | |||||||||||||||||
Cost of deposits | 0.68 | % | 0.64 | % |
* | 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. |
Six Months Ended June 30, 2017 | Six Months Ended June 30, 2016 | ||||||||||||||||||||
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) | $ | 10,459,527 | $ | 251,809 | 4.85 | % | $ | 6,363,656 | $ | 154,204 | 4.87 | % | |||||||||
Securities available for sale(3) | 1,588,519 | 16,854 | 2.14 | % | 1,052,972 | 11,406 | 2.17 | % | |||||||||||||
FRB and FHLB stock and other investments | 394,267 | 2,613 | 1.34 | % | 227,460 | 1,385 | 1.20 | % | |||||||||||||
Total interest earning assets | 12,442,313 | 271,276 | 4.40 | % | 7,644,088 | 166,995 | 4.39 | % | |||||||||||||
Total noninterest earning assets | 961,296 | 372,561 | |||||||||||||||||||
Total assets | $ | 13,403,609 | $ | 8,016,649 | |||||||||||||||||
INTEREST BEARING LIABILITIES: | |||||||||||||||||||||
Deposits: | |||||||||||||||||||||
Demand, interest bearing | $ | 3,447,254 | $ | 15,164 | 0.89 | % | $ | 1,999,454 | $ | 8,151 | 0.82 | % | |||||||||
Savings | 286,862 | 567 | 0.40 | % | 182,356 | 651 | 0.72 | % | |||||||||||||
Time deposits | 4,011,019 | 16,894 | 0.85 | % | 2,571,346 | 11,457 | 0.90 | % | |||||||||||||
Total interest bearing deposits | 7,745,135 | 32,625 | 0.85 | % | 4,753,156 | 20,259 | 0.86 | % | |||||||||||||
FHLB advances | 688,307 | 4,477 | 1.31 | % | 548,421 | 3,209 | 1.18 | % | |||||||||||||
Other borrowings | 96,065 | 2,449 | 5.07 | % | 40,837 | 856 | 4.14 | % | |||||||||||||
Total interest bearing liabilities | 8,529,507 | 39,551 | 0.94 | % | 5,342,414 | 24,324 | 0.92 | % | |||||||||||||
Noninterest bearing liabilities and equity: | |||||||||||||||||||||
Noninterest bearing demand deposits | 2,899,167 | 1,650,775 | |||||||||||||||||||
Other liabilities | 94,309 | 66,683 | |||||||||||||||||||
Stockholders’ equity | 1,880,626 | 956,777 | |||||||||||||||||||
Total liabilities and stockholders’ equity | $ | 13,403,609 | $ | 8,016,649 | |||||||||||||||||
Net interest income/net interest spread | $ | 231,725 | 3.46 | % | $ | 142,671 | 3.47 | % | |||||||||||||
Net interest margin | 3.76 | % | 3.75 | % | |||||||||||||||||
Cost of deposits | 0.62 | % | 0.64 | % |
* | 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. |
Three Months Ended June 30, 2017 over June 30, 2016 | |||||||||||
Net Increase (Decrease) | |||||||||||
Change due to | |||||||||||
Rate | Volume | ||||||||||
(Dollars in thousands) | |||||||||||
INTEREST INCOME: | |||||||||||
Loans, including fees | $ | 51,429 | $ | 1,504 | $ | 49,925 | |||||
Securities | 3,012 | 230 | 2,782 | ||||||||
Interest bearing deposits in other banks and other investments | 558 | 137 | 421 | ||||||||
Total interest income | $ | 54,999 | $ | 1,871 | $ | 53,128 | |||||
INTEREST EXPENSE: | |||||||||||
Demand, interest bearing | $ | 3,827 | $ | 582 | $ | 3,245 | |||||
Savings | (6 | ) | (133 | ) | 127 | ||||||
Time deposits | 3,941 | 588 | 3,353 | ||||||||
FHLB advances | 652 | 171 | 481 | ||||||||
Other borrowings | 829 | 125 | 704 | ||||||||
Total interest expense | $ | 9,243 | $ | 1,333 | $ | 7,910 | |||||
NET INTEREST INCOME | $ | 45,756 | $ | 538 | $ | 45,218 |
Six Months Ended June 30, 2017 over June 30, 2016 | |||||||||||
Net Increase (Decrease) | |||||||||||
Change due to | |||||||||||
Rate | Volume | ||||||||||
(Dollars in thousands) | |||||||||||
INTEREST INCOME: | |||||||||||
Loans, including fees | $ | 97,605 | $ | (579 | ) | $ | 98,184 | ||||
Securities | 5,448 | (154 | ) | 5,602 | |||||||
Interest bearing deposits in other banks and other investments | 1,228 | 160 | 1,068 | ||||||||
Total interest income | $ | 104,281 | $ | (573 | ) | $ | 104,854 | ||||
INTEREST EXPENSE: | |||||||||||
Demand, interest bearing | $ | 7,013 | $ | 714 | $ | 6,299 | |||||
Savings | (84 | ) | (362 | ) | 278 | ||||||
Time deposits | 5,437 | (626 | ) | 6,063 | |||||||
FHLB advances | 1,268 | 393 | 875 | ||||||||
Other borrowings | 1,593 | 228 | 1,365 | ||||||||
Total interest expense | $ | 15,227 | $ | 347 | $ | 14,880 | |||||
NET INTEREST INCOME | $ | 89,054 | $ | (920 | ) | $ | 89,974 |
Three Months Ended June 30, | Increase | |||||||||||||
2017 | 2016 | Amount | Percent (%) | |||||||||||
(Dollars in thousands) | ||||||||||||||
Service fees on deposit accounts | $ | 5,179 | $ | 2,902 | $ | 2,277 | 78.5 | % | ||||||
International service fees | 1,119 | 816 | 303 | 37.1 | % | |||||||||
Loan servicing fees, net | 1,291 | 589 | 702 | 119.2 | % | |||||||||
Wire transfer fees | 1,343 | 893 | 450 | 50.4 | % | |||||||||
Net gains on sales of SBA loans | 3,267 | 3,035 | 232 | 7.6 | % | |||||||||
Net gains on sales of other loans | 352 | 43 | 309 | 718.6 | % | |||||||||
Other income and fees | 3,564 | 2,429 | 1,135 | 157.7 | % | |||||||||
Total noninterest income | $ | 16,115 | $ | 10,707 | $ | 5,408 | 50.5 | % | ||||||
Six Months Ended June 30, | Increase | |||||||||||||
2017 | 2016 | Amount | Percent (%) | |||||||||||
(Dollars in thousands) | ||||||||||||||
Service fees on deposit accounts | $ | 10,517 | $ | 5,585 | $ | 4,932 | 88.3 | % | ||||||
International service fees | 2,227 | 1,591 | 636 | 40.0 | % | |||||||||
Loan servicing fees, net | 2,729 | 1,280 | 1,449 | 113.2 | % | |||||||||
Wire transfer fees | 2,529 | 1,807 | 722 | 40.0 | % | |||||||||
Net gains on sales of SBA loans | 6,517 | 4,860 | 1,657 | 34.1 | % | |||||||||
Net gains on sales of other loans | 772 | 43 | 729 | 1,695.3 | % | |||||||||
Other income and fees | 8,427 | 4,316 | 4,111 | 95.3 | % | |||||||||
Total noninterest income | $ | 33,718 | $ | 19,482 | $ | 14,236 | 73.1 | % |
Three Months Ended June 30, | Increase (Decrease) | |||||||||||||
2017 | 2016 | Amount | Percent (%) | |||||||||||
(Dollars in thousands) | ||||||||||||||
Salaries and employee benefits | $ | 34,946 | $ | 21,757 | $ | 13,189 | 60.6 | % | ||||||
Occupancy | 7,154 | 4,920 | 2,234 | 45.4 | % | |||||||||
Furniture and equipment | 3,556 | 2,337 | 1,219 | 52.2 | % | |||||||||
Advertising and marketing | 2,394 | 1,402 | 992 | 70.8 | % | |||||||||
Data processing and communications | 2,676 | 2,129 | 547 | 25.7 | % | |||||||||
Professional fees | 3,260 | 1,273 | 1,987 | 156.1 | % | |||||||||
Investments in affordable housing partnership expenses | 3,055 | 271 | 2,784 | 1,027.3 | % | |||||||||
FDIC assessment | 1,004 | 1,095 | (91 | ) | (8.3 | )% | ||||||||
Credit related expenses | 113 | 911 | (798 | ) | (87.6 | )% | ||||||||
OREO expense, net | 1,188 | 133 | 1,055 | 793.2 | % | |||||||||
Merger and integration expenses | 562 | 1,533 | (971 | ) | (63.3 | )% | ||||||||
Other | 4,129 | 2,587 | 1,542 | 59.6 | % | |||||||||
Total noninterest expense | $ | 64,037 | $ | 40,348 | $ | 23,689 | 58.7 | % | ||||||
Six Months Ended June 30, | Increase (Decrease) | |||||||||||||
2017 | 2016 | Amount | Percent (%) | |||||||||||
(Dollars in thousands) | ||||||||||||||
Salaries and employee benefits | $ | 69,112 | $ | 43,326 | $ | 25,786 | 59.5 | % | ||||||
Occupancy | 14,348 | 9,737 | 4,611 | 47.4 | % | |||||||||
Furniture and equipment | 6,969 | 4,624 | 2,345 | 50.7 | % | |||||||||
Advertising and marketing | 5,818 | 2,538 | 3,280 | 129.2 | % | |||||||||
Data processing and communications | 6,282 | 4,300 | 1,982 | 46.1 | % | |||||||||
Professional fees | 7,162 | 2,356 | 4,806 | 204.0 | % | |||||||||
Investments in affordable housing partnership expenses | 5,216 | 676 | 4,540 | 671.6 | % | |||||||||
FDIC assessment | 2,014 | 2,133 | (119 | ) | (5.6 | )% | ||||||||
Credit related expenses | 1,996 | 1,332 | 664 | 49.8 | % | |||||||||
OREO expense, net | 2,185 | 1,561 | 624 | 40.0 | % | |||||||||
Merger and integration expenses | 1,509 | 2,740 | (1,231 | ) | (44.9 | )% | ||||||||
Other | 9,125 | 5,074 | 4,051 | 79.8 | % | |||||||||
Total noninterest expense | $ | 131,736 | $ | 80,397 | $ | 51,339 | 63.9 | % |
June 30, 2017 | December 31, 2016 | ||||||||||||
Amount | Percent (%) | Amount | Percent (%) | ||||||||||
Loan portfolio composition | (Dollars in thousands) | ||||||||||||
Real estate loans: | |||||||||||||
Residential | $ | 60,544 | 1 | % | $ | 57,884 | 1 | % | |||||
Commercial | 8,065,057 | 74 | % | 7,842,573 | 75 | % | |||||||
Construction | 306,794 | 3 | % | 254,113 | 2 | % | |||||||
Total real estate loans | 8,432,395 | 78 | % | 8,154,570 | 78 | % | |||||||
Commercial business | 1,744,103 | 16 | % | 1,832,021 | 17 | % | |||||||
Trade finance | 181,400 | 2 | % | 154,928 | 1 | % | |||||||
Consumer and other | 460,446 | 4 | % | 403,470 | 4 | % | |||||||
Total loans outstanding | 10,818,344 | 100 | % | 10,544,989 | 100 | % | |||||||
Deferred loan fees, net | (1,925 | ) | (1,657 | ) | |||||||||
Loans receivable | 10,816,419 | 10,543,332 | |||||||||||
Allowance for loan losses | (80,074 | ) | (79,343 | ) | |||||||||
Loans receivable, net of allowance for loan losses | $ | 10,736,345 | $ | 10,463,989 |
June 30, 2017 | December 31, 2016 | ||||||
(Dollars in thousands) | |||||||
Commitments to extend credit | $ | 1,567,393 | $ | 1,592,221 | |||
Standby letters of credit | 75,941 | 63,753 | |||||
Other commercial letters of credit | 67,202 | 52,125 | |||||
$ | 1,710,536 | $ | 1,708,099 |
June 30, 2017 | December 31, 2016 | ||||||
(Dollars in thousands) | |||||||
Nonaccrual loans (1) | $ | 47,361 | $ | 40,074 | |||
Loans 90 days or more days past due, still accruing | 1,850 | 305 | |||||
Accruing restructured loans | 53,290 | 48,874 | |||||
Total nonperforming loans | 102,501 | 89,253 | |||||
OREO | 21,839 | 21,990 | |||||
Total nonperforming assets | $ | 124,340 | $ | 111,243 | |||
Nonaccrual loans: | |||||||
Legacy Portfolio | $ | 36,842 | $ | 28,944 | |||
Acquired Portfolio | 10,519 | 11,130 | |||||
Total nonaccrual loans | $ | 47,361 | $ | 40,074 | |||
Nonperforming loans: | |||||||
Legacy Portfolio | $ | 88,147 | $ | 74,890 | |||
Acquired Portfolio | 14,354 | 14,363 | |||||
Total nonperforming loans | $ | 102,501 | $ | 89,253 | |||
Nonperforming loans to loans receivable | 0.95 | % | 0.85 | % | |||
Nonperforming assets to loans receivable and OREO | 1.15 | % | 1.05 | % | |||
Nonperforming assets to total assets | 0.90 | % | 0.83 | % | |||
Allowance for loan losses to nonperforming loans | 78.12 | % | 88.90 | % | |||
Allowance for loan losses to nonperforming assets | 64.40 | % | 71.32 | % |
(1) | Nonaccrual loans exclude the guaranteed portion of delinquent SBA loans that are in liquidation totaling $15.5 million and $15.9 million as of June 30, 2017 and December 31, 2016, respectively. |
Allocation of Allowance for Loan Losses | |||||||||||||||||||||
June 30, 2017 | December 31, 2016 | ||||||||||||||||||||
Allowance for Loan Losses | Loans Receivable* | Percent of Allowance to Loans Receivable | Allowance for Loan Losses | Loans Receivable* | Percent of Allowance to Loans Receivable | ||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Loan Type | |||||||||||||||||||||
Real estate - residential | $ | 171 | $ | 60,544 | 0.28 | % | $ | 209 | $ | 57,884 | 0.36 | % | |||||||||
Real estate - commercial | 51,902 | 8,065,057 | 0.64 | % | 49,917 | 7,842,573 | 0.64 | % | |||||||||||||
Real estate - construction | 1,816 | 306,794 | 0.59 | % | 1,621 | 254,113 | 0.64 | % | |||||||||||||
Commercial business | 22,786 | 1,744,103 | 1.31 | % | 23,547 | 1,832,021 | 1.29 | % | |||||||||||||
Trade finance | 1,106 | 181,400 | 0.61 | % | 1,897 | 154,928 | 1.22 | % | |||||||||||||
Consumer and other | 2,293 | 460,446 | 0.50 | % | 2,152 | 403,470 | 0.53 | % | |||||||||||||
Total | $ | 80,074 | $ | 10,818,344 | 0.74 | % | $ | 79,343 | $ | 10,544,989 | 0.75 | % |
* | Held-for-sale loans of $16.9 million and $22.8 million at June 30, 2017 and December 31, 2016, respectively, were excluded from the total. |
Acquired Loans(2) | ||||||||||||||||
Three Months Ended June 30, 2017 | Legacy Loans (1) | PCI Loans | Non-PCI Loans | Total | ||||||||||||
(Dollars in thousands) | ||||||||||||||||
Balance, beginning of period | $ | 64,054 | $ | 12,136 | $ | 2,469 | $ | 78,659 | ||||||||
Provision (credit) for loan losses | 2,545 | (70 | ) | 285 | 2,760 | |||||||||||
Loans charged off | (2,086 | ) | — | (36 | ) | (2,122 | ) | |||||||||
Recoveries of loan charge offs | 742 | — | 35 | 777 | ||||||||||||
Balance, end of period | $ | 65,255 | $ | 12,066 | $ | 2,753 | $ | 80,074 | ||||||||
Total loans outstanding | $ | 7,522,251 | $ | 246,657 | $ | 3,049,436 | $ | 10,818,344 | ||||||||
Allowance coverage ratio | 0.87 | % | 4.89 | % | 0.09 | % | 0.74 | % | ||||||||
Net loan charge offs to beginning allowance | 2.10 | % | — | % | 0.04 | % | 1.71 | % | ||||||||
Net loan charge offs to provision for loan losses | 52.81 | % | — | % | 0.35 | % | 48.73 | % | ||||||||
Acquired Loans (2) | ||||||||||||||||
Six Months Ended June 30, 2017 | Legacy Loans (1) | PCI Loans | Non-PCI Loans | Total | ||||||||||||
(Dollars in thousands) | ||||||||||||||||
Balance, beginning of period | $ | 66,399 | $ | 12,130 | $ | 814 | $ | 79,343 | ||||||||
Provision (credit) for loan losses | 6,254 | (64 | ) | 2,170 | 8,360 | |||||||||||
Loans charged off | (8,285 | ) | — | (442 | ) | (8,727 | ) | |||||||||
Recoveries of loan charge offs | 887 | — | 211 | 1,098 | ||||||||||||
Balance, end of period | $ | 65,255 | $ | 12,066 | $ | 2,753 | $ | 80,074 | ||||||||
Total loans outstanding | $ | 7,522,251 | $ | 246,657 | $ | 3,049,436 | $ | 10,818,344 | ||||||||
Loss coverage ratio | 0.87 | % | 4.89 | % | 0.09 | % | 0.74 | % | ||||||||
Net loan charge offs to beginning allowance | 11.14 | % | — | % | 28.38 | % | 9.62 | % | ||||||||
Net loan charge offs to provision for loan losses | 118.29 | % | — | % | 10.65 | % | 91.26 | % |
(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. |
At or for the Three Months Ended June 30, | At or for the Six Months Ended June 30, | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
(Dollars in thousands) | ||||||||||||||||
LOANS: | ||||||||||||||||
Average loans, including loans held for sale | $ | 10,536,428 | $ | 6,457,883 | $ | 10,459,527 | $ | 6,363,656 | ||||||||
Loans receivable | $ | 10,816,419 | $ | 6,584,237 | $ | 10,816,419 | $ | 6,584,237 | ||||||||
ALLOWANCE: | ||||||||||||||||
Balance, beginning of period | $ | 78,659 | $ | 76,856 | $ | 79,343 | $ | 76,408 | ||||||||
Less loan charge offs: | ||||||||||||||||
Real estate - commercial | (873 | ) | (207 | ) | (2,363 | ) | (342 | ) | ||||||||
Commercial business | (480 | ) | (2,038 | ) | (3,740 | ) | (2,659 | ) | ||||||||
Trade finance | (528 | ) | — | (2,104 | ) | — | ||||||||||
Consumer and other | (241 | ) | (50 | ) | (520 | ) | (115 | ) | ||||||||
Total loan charge offs | (2,122 | ) | (2,295 | ) | (8,727 | ) | (3,116 | ) | ||||||||
Plus loan recoveries: | ||||||||||||||||
Real estate - commercial | 43 | 177 | 89 | 701 | ||||||||||||
Commercial business | 728 | 400 | 1,000 | 642 | ||||||||||||
Trade Finance | 4 | — | 4 | — | ||||||||||||
Consumer and other | 2 | 87 | 5 | 90 | ||||||||||||
Total loans recoveries | 777 | 664 | 1,098 | 1,433 | ||||||||||||
Net loan charge offs | (1,345 | ) | (1,631 | ) | (7,629 | ) | (1,683 | ) | ||||||||
Provision for loan losses | 2,760 | 1,200 | 8,360 | 1,700 | ||||||||||||
Balance, end of period | $ | 80,074 | $ | 76,425 | $ | 80,074 | $ | 76,425 | ||||||||
Net loan charge offs to average loans, including loans held for sale* | 0.05 | % | 0.10 | % | 0.29 | % | 0.11 | % | ||||||||
Allowance for loan losses to loans receivable at end of period | 0.74 | % | 1.16 | % | 0.74 | % | 1.16 | % | ||||||||
Net loan charge offs to allowance* | 6.72 | % | 8.54 | % | 38.11 | % | 8.81 | % | ||||||||
Net loan charge offs to provision for loan losses | 48.73 | % | 135.92 | % | 91.26 | % | 99.00 | % |
* | Annualized |
Balance | Percent (%) | |||||
(Dollars in thousands) | ||||||
Three months or less | $ | 1,281,047 | 31 | % | ||
Over three months through six months | 821,633 | 20 | % | |||
Over six months through nine months | 760,153 | 19 | % | |||
Over nine months through twelve months | 808,436 | 20 | % | |||
Over twelve months | 428,618 | 10 | % | |||
Total time deposits | $ | 4,099,887 | 100 | % |
As of June 30, 2017 | ||||||||||||||||||||
Actual | To Be Well-Capitalized | Excess | ||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Hope Bancorp, Inc. | ||||||||||||||||||||
Common equity Tier 1 capital ratio (to risk-weighted assets) | $ | 1,438,907 | 12.18 | % | N/A | N/A | N/A | N/A | ||||||||||||
Total risk-based capital ratio (to risk-weighted assets) | $ | 1,619,043 | 13.70 | % | N/A | N/A | N/A | N/A | ||||||||||||
Tier 1 risk-based capital ratio (to risk-weighted assets) | $ | 1,535,333 | 13.00 | % | N/A | N/A | N/A | N/A | ||||||||||||
Tier 1 capital to total assets (to average assets) | $ | 1,535,333 | 11.80 | % | N/A | N/A | N/A | N/A | ||||||||||||
Bank of Hope | ||||||||||||||||||||
Common equity Tier 1 capital ratio (to risk-weighted assets) | $ | 1,514,997 | 12.83 | % | $ | 767,543 | 6.50 | % | $ | 747,454 | 6.33 | % | ||||||||
Total risk-based capital ratio (to risk-weighted assets) | $ | 1,598,707 | 13.54 | % | $ | 1,180,835 | 10.00 | % | $ | 417,872 | 3.54 | % | ||||||||
Tier 1 risk-based capital ratio (to risk-weighted assets) | $ | 1,514,997 | 12.83 | % | $ | 944,668 | 8.00 | % | $ | 570,329 | 4.83 | % | ||||||||
Tier 1 capital to total assets (to average assets) | $ | 1,514,997 | 11.64 | % | $ | 650,659 | 5.00 | % | $ | 864,338 | 6.64 | % | ||||||||
As of December 31, 2016 | ||||||||||||||||||||
Actual | To Be Well-Capitalized | Excess | ||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Hope Bancorp, Inc. | ||||||||||||||||||||
Common equity Tier 1 capital ratio (to risk-weighted assets) | $ | 1,400,246 | 12.10 | % | N/A | N/A | N/A | N/A | ||||||||||||
Total risk-based capital ratio (to risk-weighted assets) | $ | 1,578,690 | 13.64 | % | N/A | N/A | N/A | N/A | ||||||||||||
Tier 1 risk-based capital ratio (to risk-weighted assets) | $ | 1,496,153 | 12.92 | % | N/A | N/A | N/A | N/A | ||||||||||||
Tier 1 capital to total assets (to average assets) | $ | 1,496,153 | 11.49 | % | N/A | N/A | N/A | N/A | ||||||||||||
Bank of Hope | ||||||||||||||||||||
Common equity Tier 1 capital ratio (to risk-weighted assets) | $ | 1,475,228 | 12.75 | % | $ | 752,022 | 6.50 | % | $ | 723,206 | 6.25 | % | ||||||||
Total risk-based capital ratio (to risk-weighted assets) | $ | 1,557,765 | 13.46 | % | $ | 1,156,957 | 10.00 | % | $ | 400,808 | 3.46 | % | ||||||||
Tier 1 risk-based capital ratio (to risk-weighted assets) | $ | 1,475,228 | 12.75 | % | $ | 925,566 | 8.00 | % | $ | 549,662 | 4.75 | % | ||||||||
Tier 1 capital to total assets (to average assets) | $ | 1,475,228 | 11.33 | % | $ | 651,129 | 5.00 | % | $ | 824,099 | 6.33 | % |
Item 3. | Quantitative and Qualitative Disclosures About Market Risk |
June 30, 2017 | December 31, 2016 | ||||||||||
Simulated Rate Changes | Estimated Net Interest Income Sensitivity | Market Value Of Equity Volatility | Estimated Net Interest Income Sensitivity | Market Value Of Equity Volatility | |||||||
+ 200 basis points | 1.49 | % | (3.48 | )% | 2.58 | % | (4.05 | )% | |||
+ 100 basis points | 0.81 | % | (1.61 | )% | 1.15 | % | (1.91 | )% | |||
- 100 basis points | (2.13 | )% | 0.49 | % | (0.60 | )% | 1.41 | % | |||
- 200 basis points | (9.84 | )% | (0.95 | )% | (9.66 | )% | 0.42 | % |
Item 4. | Controls and Procedures |
Item 1. | Legal Proceedings |
Item 1A. | Risk Factors |
Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds |
Item 3. | Defaults Upon Senior Securities |
Item 4. | Mine Safety Disclosures |
Item 5. | Other Information |
Item 6. | Exhibits |
HOPE BANCORP, INC. | |||
Date: | August 9, 2017 | /s/ Kevin S. Kim | |
Kevin S. Kim | |||
President and Chief Executive Officer | |||
Date: | August 9, 2017 | /s/ Douglas J. Goddard | |
Douglas J. Goddard | |||
Executive Vice President and Chief Financial Officer | |||
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 |
+ | Management contract or compensatory plan or arrangement |
1. | I have reviewed this periodic report on Form 10-Q of Hope 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: |
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. |
1. | I have reviewed this periodic report on Form 10-Q of Hope 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: |
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. |
Document And Entity Information - shares |
6 Months Ended | |
---|---|---|
Jun. 30, 2017 |
Aug. 02, 2017 |
|
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2017 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | Hope 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 | 135,349,745 |
Condensed Consolidated Statements Of Financial Condition (Parenthetical) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Statement of Financial Position [Abstract] | ||
Loans receivable, allowance | $ 80,074 | $ 79,343 |
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 | 135,297,678 | 135,240,079 |
Common stock, shares outstanding | 135,297,678 | 135,240,079 |
Condensed Consolidated Statements Of Income - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
INTEREST INCOME: | ||||
Loans, including fees | $ 128,515 | $ 77,086 | $ 251,809 | $ 154,204 |
Securities | 8,741 | 5,729 | 16,854 | 11,406 |
Interest bearing deposits in other banks and other investments | 1,277 | 719 | 2,613 | 1,385 |
Total interest income | 138,533 | 83,534 | 271,276 | 166,995 |
INTEREST EXPENSE: | ||||
Deposits | 18,114 | 10,352 | 32,625 | 20,259 |
FHLB advances | 2,338 | 1,686 | 4,477 | 3,209 |
Other borrowings | 1,261 | 432 | 2,449 | 856 |
Total interest expense | 21,713 | 12,470 | 39,551 | 24,324 |
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES | 116,820 | 71,064 | 231,725 | 142,671 |
PROVISION FOR LOAN LOSSES | 2,760 | 1,200 | 8,360 | 1,700 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 114,060 | 69,864 | 223,365 | 140,971 |
NONINTEREST INCOME: | ||||
Service fees on deposit accounts | 5,179 | 2,902 | 10,517 | 5,585 |
International service fees | 1,119 | 816 | 2,227 | 1,591 |
Loan servicing fees, net | 1,291 | 589 | 2,729 | 1,280 |
Wire transfer fees | 1,343 | 893 | 2,529 | 1,807 |
Other income and fees | 3,564 | 2,429 | 8,427 | 4,316 |
Net gains on sales of SBA loans | 3,267 | 3,035 | 6,517 | 4,860 |
Net gains on sales of other loans | 352 | 43 | 772 | 43 |
Total noninterest income | 16,115 | 10,707 | 33,718 | 19,482 |
NONINTEREST EXPENSE: | ||||
Salaries and employee benefits | 34,946 | 21,757 | 69,112 | 43,326 |
Occupancy | 7,154 | 4,920 | 14,348 | 9,737 |
Furniture and equipment | 3,556 | 2,337 | 6,969 | 4,624 |
Advertising and marketing | 2,394 | 1,402 | 5,818 | 2,538 |
Data processing and communications | 2,676 | 2,129 | 6,282 | 4,300 |
Professional fees | 3,260 | 1,273 | 7,162 | 2,356 |
Income (Loss) from Affordable Housing Projects, Equity Method Investments | 3,055 | 271 | 5,216 | 676 |
FDIC assessments | 1,004 | 1,095 | 2,014 | 2,133 |
Credit related expenses | 113 | 911 | 1,996 | 1,332 |
OREO expense, net | 1,188 | 133 | 2,185 | 1,561 |
Merger and integration expenses | 562 | 1,533 | 1,509 | 2,740 |
Other | 4,129 | 2,587 | 9,125 | 5,074 |
Total noninterest expense | 64,037 | 40,348 | 131,736 | 80,397 |
INCOME BEFORE INCOME TAX PROVISION | 66,138 | 40,223 | 125,347 | 80,056 |
INCOME TAX PROVISION | 25,451 | 16,833 | 48,450 | 33,043 |
NET INCOME | $ 40,687 | $ 23,390 | $ 76,897 | $ 47,013 |
EARNINGS PER COMMON SHARE | ||||
Basic (in dollars per share) | $ 0.30 | $ 0.29 | $ 0.57 | $ 0.59 |
Diluted (in dollars per share) | $ 0.30 | $ 0.29 | $ 0.57 | $ 0.59 |
Condensed Consolidated Statements Of Comprehensive Income - USD ($) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 40,687,000 | $ 23,390,000 | $ 76,897,000 | $ 47,013,000 |
Other comprehensive income: | ||||
Change in unrealized net holding gains on securities available for sale | 4,768,000 | 6,606,000 | 7,949,000 | 22,238,000 |
Change in unrealized net holding gains (losses) on interest only strips | 8,000 | (3,000) | (41,000) | (44,000) |
Less tax effect | 2,016,000 | 2,785,000 | 3,340,000 | 9,388,000 |
Other comprehensive income, net of tax | 2,760,000 | 3,818,000 | 4,568,000 | 12,806,000 |
Total comprehensive income | 43,447,000 | $ 27,208,000 | 81,465,000 | $ 59,819,000 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | $ 0 | $ 0 |
Hope Bancorp, Inc. |
6 Months Ended |
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Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Hope Bancorp, Inc. | Hope Bancorp, Inc. Hope Bancorp, Inc. (“Hope Bancorp” on a parent-only basis and the “Company” on a consolidated basis), headquartered in Los Angeles, California, is the holding company for Bank of Hope (the “Bank”). As of June 30, 2017, the Bank operated branches in California, Washington, Texas, Illinois, Alabama, Georgia, Virginia, New Jersey, and New York, as well as loan production offices in Georgia, Virginia, Texas, Colorado, Oregon, Washington, Southern California, and Northern California. 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. Effective at the close of business on July 29, 2016, the Company (previously known as BBCN Bancorp, Inc.) completed its merger with Wilshire Bancorp, Inc. (“Wilshire”) pursuant to the Agreement and Plan of Merger, dated as of December 7, 2015, by and between the Company and Wilshire (the “Merger Agreement”). On the date of the acquisition, Wilshire merged with and into the Company, with the Company being the surviving corporation. On the date of the merger with Wilshire, the Company changed its name to “Hope Bancorp, Inc.” and changed its ticker symbol to “HOPE”. |
Basis of Presentation |
6 Months Ended |
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Jun. 30, 2017 | |
Basis Of Presentation [Abstract] | |
Basis of Presentation | Basis of Presentation The 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 Consolidated Statement of Financial Condition as of December 31, 2016 which was from the audited financial statements included in the Company’s 2016 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 consolidated financial statements include the accounts of Hope Bancorp and its wholly owned subsidiaries, principally Bank of Hope. All intercompany transactions and balances have been eliminated in consolidation. The Company has made all adjustments, that in the opinion of management, are necessary to fairly present the Company’s financial position at June 30, 2017 and December 31, 2016 and the results of operations for the three and six months ended June 30, 2017 and 2016. 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 (“GAAP”) 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 significantly from those estimates. These unaudited consolidated financial statements should be read along with the audited consolidated financial statements and accompanying notes included in the Company’s 2016 Annual Report on Form 10-K. Recent Accounting Pronouncements: In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers” which supersedes the revenue recognition requirements in Topic 605, Revenue Recognition. ASU 2014-09 is based on the principle that revenue is recognized 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. ASU 2014-09 also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts. ASU 2014-09 as amended by ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20, is effective for interim and annual periods beginning after December 15, 2017 and is applied on either a modified retrospective or full retrospective basis. Early adoption is permitted for interim and annual periods beginning after December 15, 2016. The Company’s revenue primarily consists of net interest income and noninterest income. The scope of the guidance explicitly excludes net interest income, as well as other revenues from financial instruments such as loans, leases, securities and derivatives. Certain noninterest income revenue items such as service charges on deposits accounts, gain/loss on other real estate owned sales, and other income items may be in the scope of ASU 2014-09 and how these revenue streams are recognized may change. The Company is currently in the process of evaluating the impact of ASU 2014-09 on its consolidated financial statements, but does not expect the adoption of ASU 2014-09 to have a material impact on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”. The new standard establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is currently in the process of evaluating the impact of the pending adoption of the new standard on its consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. ASU 2016-13 becomes effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2019. The Company is currently in the process of evaluating the impact of the pending adoption of the new standard on its consolidated financial statements. In March 2017, the FASB issued ASU 2017-08, “Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities”. ASU 2017-08 was issued to amend the amortization period for certain callable debt securities held at a premium. ASU 2017-08 shortens the amortization period of premiums on certain purchased callable debt securities to the earliest call date. ASU 2017-08 affect all entities that hold investments in callable debt securities that have an amortized cost basis in excess of the amount that is repayable by the issuer at the earliest call date (that is, at a premium). ASU 2017-08 does not impact securities purchased at a discount, which continue to be amortized to maturity. ASU 2017-08 is effective for annual period beginning after December 15, 2018, including interim periods within those annual periods. Early adoption is permitted in an interim period. If an entity chooses to adopt early, any adjustments should be reflected as of the beginning of the fiscal year that includes the interim period. The adoption of ASU 2017-08 is not expected to have a material impact on the Company’s consolidated financial statements. In May 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718): Scope of Modification”. ASU 2017-09 was issued to provide clarity and reduce both 1) diversity in practice and 2) cost and complexity when applying the guidance in Topic 718, Compensation - Stock Compensation, to a change to the terms or conditions of a share-based payment award. Diversity in practice has arisen in part because some entities apply modification accounting under Topic 718 for modifications to terms and conditions that they consider substantive, but do not when they conclude that particular modifications are not substantive. Others apply modification accounting for any change to an award, except for changes that they consider purely administrative in nature. Still others apply modification accounting when a change to an award changes the fair value, the vesting, or the classification of the award. In practice, it appears that the evaluation of a change in fair value, vesting, or classification may be used to evaluate whether a change is substantive. ASU 2017-09 include guidance on determining which changes to the terms and conditions of share-based payment awards require an entity to apply modification accounting under Topic 718. ASU 2017-09 is effective for the annual period, and interim periods within the annual periods, beginning after December 15, 2017. Early adoption is permitted, including adoption in any interim period for: (a) public business entities for reporting periods for which financial statements have not yet been issued, and (b) all other entities for reporting periods for which financial statements have not yet been made available for issuance. ASU 2017-09 should be applied prospectively to an award modified on or after the adoption date. The Company is currently in the process of evaluating the impact of ASU 2017-09 on its consolidated financial statements, but does not expect the adoption of ASU 2017-09 to have material impact on it consolidated financial statements. |
Mergers and Acquisitions |
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Business Combinations [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mergers and Acquisitions | Mergers and Acquisitions The Company applies the acquisition method of accounting for business combinations, including the merger with Wilshire under ASC 805 “Business Combinations”. Under the acquisition method of accounting, 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. Pending Acquisition of U & I Financial Corp On January 23, 2017, the Company announced the signing of a definitive agreement and plan of merger (the “U & I Merger Agreement”) with U & I Financial Corporation (“U & I”) pursuant to which U & I will merge with and into Hope Bancorp with Hope Bancorp as the surviving corporation. As part of the merger, UniBank, a wholly-owned subsidiary of U & I, will merge with and into the Bank. Under the U & I Merger Agreement, at the effective time of the merger (the “Effective Time”), each outstanding share of U & I common stock will be converted into shares of the Company’s common stock based on a value of $9.50 for the U & I common stock, which value will be subject to adjustment if U & I’s financial advisory and legal fees exceed certain amounts as provided in the U & I Merger Agreement (the “Merger Consideration”). The number of shares of Company common stock to be issued for the Merger Consideration will be based on the 10-trading day, volume weighted average price of the Company’s common stock as of the closing as determined in accordance with the Merger Agreement (as so determined, the “Closing Stock Price”); provided that: (i) if the Closing Stock Price is less than $17.28832, the Company may terminate the U & I Merger Agreement unless U & I elects to accept an adjustment to the Merger Consideration through the issuance of fewer shares based on the $17.28832 instead of the lower Closing Stock Price; and (ii) if the Closing Stock Price is greater than $25.93248, U & I may terminate the U & I Merger Agreement unless the Company elects to accept an adjustment to the Merger Consideration through the issuance of additional shares based on the $25.93248 price instead of the higher Closing Stock Price. Each outstanding U & I stock option held by an U & I employee who will be retained by the Company after the Effective Time (each, a “Covered Employee”) shall cease to represent the right to acquire shares of U & I common stock and shall instead be converted automatically into an option to acquire shares of the Company’s common stock, and such assumed options will be assumed by the Company on substantially the same terms and conditions as were applicable under the corresponding U & I stock options. Each U & I stock option held by a U & I employee who will not be a Covered Employee shall become fully vested and be converted into the right to receive an amount in cash equal to the product obtained by multiplying (i) the excess, if any, of the per share Merger Consideration over the exercise price per share of such stock option by (ii) the total number of shares of U & I common stock subject to such stock option. The U & I Merger Agreement contains representations and warranties customary for transactions of this type from the Company and U & I, and each party has agreed to customary covenants, including, among others, covenants relating to the conduct of its business during the interim period between the execution of the U & I Merger Agreement and the Effective Time and, in the case of U & I, its obligation, subject to certain exceptions, to recommend that its stockholders adopt the U & I Merger Agreement and its non-solicitation obligations relating to alternative acquisition proposals. The consummation of the merger with U & I is subject to customary conditions, including receipt of regulatory approvals, receipt of the requisite approval of the stockholders of U & I, the absence of any law or order prohibiting the closing, and effectiveness of the registration statement to be filed by the Company with respect to the Company’s common stock to be issued in the merger with U & I, and the absence of the occurrence of a material adverse effect upon the Company or U & I. In addition, each party’s obligation to consummate the merger is subject to certain other conditions, including the accuracy of the representations and warranties of the other party and compliance of the other party with its covenants, in each case subject to certain materiality standards. The Company expects to close the acquisition by the end of 2017, subject to satisfaction of the conditions set forth in the U & I Merger Agreement. The U & I Merger Agreement provides certain termination rights for both the Company and U & I and further provides that a termination fee of $2 million will be payable by U & I to the Company upon termination of the U & I Merger Agreement under certain circumstances. Merger with Wilshire Bancorp, Inc. On July 29, 2016, the Company completed the merger with Wilshire Bancorp, Inc. (“Wilshire”), the holding company of Wilshire Bank. The Company merged with Wilshire in order to expand its network of branch locations and to provide enhanced products and services to our customers. Wilshire’s primary subsidiary, Wilshire Bank, previously operated thirty-five branches located in California, New York, New Jersey, Texas, Georgia, and Alabama. Approximately $4.63 billion in assets were acquired through the transaction including $3.80 billion in loans receivable and $3.81 billion in deposits. Subsequent to the merger, the Bank now operates 63 branches in nine different states throughout the United States, has loan production offices throughout the Unites States, and a representative office in Seoul, Korea. Under the terms of the Merger Agreement, Wilshire shareholders received 0.7034 shares of Hope Bancorp common stock for each share of Wilshire common stock owned. As a result, 55.5 million shares of Hope Bancorp common stock were issued to Wilshire shareholders in addition to $3 thousand that was paid for fractional shares. In addition, the Company issued Hope stock options and restricted stock in exchange for Wilshire stock options and restricted stock outstanding at July 29, 2016 under substantially the same terms that were applicable immediately prior to the merger, subject to adjustment for the exchange ratio. Total consideration for the merger was $856.3 million. The consideration paid, the assets acquired, and the liabilities assumed are summarized in the following table:
Fair values are primarily determined through the use of inputs that are not observable from market-based information. Under ASC 805-10-25-13, management may adjust the fair values of acquired assets or assumed liabilities for a period of up to one year from the date of the acquisition to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have an effect on the measurement of the amounts recognized as of that date. During the fourth quarter of 2016, the Company made a net adjustment of $1.4 million to deferred tax assets and taxes receivable acquired from Wilshire which reduced the previous goodwill recorded from the transaction by $1.4 million. Subsequently in the first quarter of 2017, the Company made an adjustment which increased goodwill by $978 thousand consisting of a $1.7 million adjustment to OREO partially offset by a $716 thousand adjustment to deferred tax assets. During the second quarter of 2017, the Company made an adjustment of $475 thousand to deferred tax assets which increase goodwill by the same amount. Acquired Loans The fair value of loans were estimated on an individual basis based on the characteristics for each loan. A discounted cash flow analysis was used to project cash flows for each loan using assumptions for rate, remaining maturity, prepayment speeds, projected default probabilities, loss given defaults, and estimates of prevailing discount rates. At the time of the merger with Wilshire on July 29, 2016, the fair value of loans acquired from Wilshire with deteriorated credit quality totaled $243.1 million. The outstanding principal balances and the related carrying amounts of the acquired loans included in the Statement of Financial Condition at June 30, 2017 and were $5.02 billion and $3.27 billion, respectively, for loans acquired from Wilshire. The outstanding principal balances and the related carrying amounts of the acquired loans included in the Statement of Financial Condition at December 31, 2016 were $5.67 billion and $3.59 billion, respectively, for loans acquired from Wilshire. Merger-Related Expenses The following table presents merger-related expenses associated with the merger with Wilshire, the pending merger with U & I, and other previous transactions which were reflected in the Consolidated Statements of Income in merger and integration expenses. These expenses are comprised primarily of salaries and employee benefits, professional fees, and other noninterest expenses related to mergers.
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Stock-Based Compensation |
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Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-Based Compensation | Stock-Based Compensation The Company has a stock-based incentive plan (the “2016 Plan”) to award equity as form of compensation. The 2016 Plan, was approved by the Company’s stockholders on September 1, 2016. The 2016 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, 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 2016 Plan gives the Company flexibility to (i) attract and retain qualified non-employee directors, executives, other key employees, and consultants with appropriate equity-based awards to; (ii) motivate high levels of performance; (iii) recognize employee contributions to the Company’s success; and (iv) align the interests of the 2016 Plan participants with those of the Company’s stockholders. The plan initially had 2,400,000 shares available for grant to participants. 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 2016 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 2016 Plan. All options not exercised generally expire 10 years after the date of grant. 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 are 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 had another stock-based incentive plan, the 2007 Equity Incentive Plan (“2007 Plan”), which was approved by stockholders in May 2007. Under the terms of this plan, awards cannot be granted under the plan more than ten years after the plan adoption date. Therefore, subsequent to May 2017, equity awards can no longer be issued from this plan. Under the 2016 Plan, 1,328,988 shares were available for future grants as of June 30, 2017. The total shares reserved for issuance will serve as the underlying value for all equity awards under the 2016 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 2016 Plan for the six months ended June 30, 2017:
The following is a summary of restricted stock and performance unit activity under the 2007 Plan and 2016 Plan for the six months ended June 30, 2017:
The total fair value of restricted stock and performance units vested for the six months ended June 30, 2017 and 2016 was $1.3 million and $675 thousand, respectively. The amount charged against income related to stock-based payment arrangements was $760 thousand and $76 thousand for the three months ended June 30, 2017 and 2016, respectively. For the six months ended June 30, 2017 and 2016, $1.5 million and $98 thousand, respectively, of stock-based payment arrangements were charged against income. The income tax benefit recognized was approximately $292 thousand and $32 thousand for the three months ended June 30, 2017 and 2016, respectively. The income tax benefit recognized for the six months ended June 30, 2017 and 2016, was approximately$582 thousand and $40 thousand, respectively. At June 30, 2017, the unrecognized compensation expense related to non-vested stock option grants was $1.6 million which is expected to be recognized over a weighted average vesting period of 3.04 years. Unrecognized compensation expense related to non-vested restricted stock and performance units was $4.7 million which is expected to be recognized over a weighted average vesting period of 2.66 years. During the first quarter of 2017 the Company adopted ASU 2016-09, “Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting”. With the adoption of ASU 2016-09 all of the Company’s excess tax benefits on share-based payment awards were recorded in income tax provision on the Consolidated Statements of Income for the three and six months ended June 30, 2017. |
Earnings Per Share ("EPS") |
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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 equity awards, 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, 2017, stock options and restricted shares awards for 530,334 shares of common stock were excluded in computing diluted earnings per common share because they were anti-dilutive. For the six months ended June 30, 2017, stock options and restricted shares awards for 542,328 shares of common stock were excluded in computing diluted earnings per common share because they were anti-dilutive. Stock options and restricted shares awards for 451,670 shares of common stock were excluded in computing diluted earnings per common share because they were anti-dilutive for the three months ended June 30, 2016. Stock options and restricted shares awards for 445,113 shares of common stock were excluded in computing diluted earnings per common share because they were anti-dilutive for the six months ended June 30, 2016. Additionally, warrants issued pursuant to the Company’s participation in the U.S. Treasury’s TARP Capital Purchase Plan, to purchase 20,087 shares and 19,552 shares of common stock were anti-dilutive and excluded for the three and six months ended June 30, 2017 and 2016, respectively. The following tables show the computation of basic and diluted EPS for the three and six months ended June 30, 2017 and 2016.
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Securities Available for Sale |
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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:
As of June 30, 2017 and December 31, 2016, 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. At June 30, 2017 and December 31, 2016, $10.1 million and $14.6 million, respectively, in unrealized losses on securities net of taxes were included in accumulated other comprehensive loss. Also included in accumulated other comprehensive loss at June 30, 2017 and December 31, 2016, were unrealized losses on interest only strip net of taxes of $38 thousand and $14 thousand, respectively. There were no reclassifications out of accumulated other comprehensive (loss) during the three and six months ended June 30, 2017 and 2016. The amortized cost and estimated fair value of investment securities at June 30, 2017, 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.
Securities with carrying values of approximately $362.1 million and $382.1 million at June 30, 2017 and December 31, 2016, 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.
* Investments in U.S. Government agency and U.S. Government sponsored enterprises
__________________________________ * 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, municipal securities, and mutual funds that were in a continuous unrealized loss position for twelve months or longer as of June 30, 2017. The collateralized mortgage obligations in a continuous loss position for twelve months or longer had an unrealized loss of $1.7 million at June 30, 2017. 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 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. Municipal securities that were in a continuous loss position for twelve months or longer had an unrealized loss of $15 thousand at June 30, 2017. Mutual funds that were in a continuous loss position for twelve months or longer had an unrealized loss of $245 thousand at June 30, 2017. 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 U.S. Government sponsored collateralized mortgage obligations, municipal securities, and mutual funds that were in an unrealized loss position at June 30, 2017. The Company considers the losses on the investments in unrealized loss positions at June 30, 2017 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. |
Loans Receivable and Allowance for Loan Losses |
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Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans Receivable and Allowance for Loan Losses | 7. Loans Receivable and Allowance for Loan Losses The following is a summary of loans receivable by major category:
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 previously 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 purchased credit impaired loans (loans with credit deterioration on the acquisition date and accounted for under ASC 310-30, or “PCIs”) 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 “non-PCI loans”). The following table presents changes in the accretable discount on the PCI loans for the three and six months ended June 30, 2017 and 2016:
On the acquisition date, the amount by which the undiscounted expected cash flows exceed the estimated fair value of the PCI loans 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 PCI loans 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, 2017 and 2016:
The following tables break out the allowance for loan losses and the recorded investment of loans outstanding (not including accrued interest receivables and net deferred loan fees) by individually impaired, general valuation, and PCI impairment, by portfolio segment, at June 30, 2017 and December 31, 2016:
As of June 30, 2017 and December 31, 2016, the reserve for unfunded loan commitments recorded in other liabilities was $3.6 million and $3.2 million, respectively. For the three months ended June 30, 2017 and 2016, the recognized provision for unfunded commitments recorded in credit related expense was $201 thousand and $109 thousand, respectively. For the six months ended June 30, 2017 and 2016, the recognized provision (credit) for unfunded commitments was $442 thousand and $(461) thousand, respectively. The recorded investment of individually impaired loans was as follows:
The following tables detail the recorded investment of impaired loans (Legacy Loans and Acquired Loans that became impaired subsequent to being originated and acquired, respectfully) as of June 30, 2017 and December 31, 2016 and average recorded investment and interest income recognized for the three and six months ended June 30, 2017 and 2016. Loans with no related allowance are believed by management to be adequately collateralized.
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Generally, loans are placed on nonaccrual status if the principal and/or interest payments become 90 days past due and/or management deems the collectability of the principal and/or interest to be in question, as well as when required by regulatory requirements. Loans to customers 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 only when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. The Company did not recognize any cash basis interest income for the three and six ended June 30, 2017 or 2016. The following tables present the recorded investment of past due loans by the number of days past due as of June 30, 2017 and December 31, 2016 by class of loans:
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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, PCI loans 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:
The following tables present the recorded investment of risk ratings for Legacy and Acquired Loans as of June 30, 2017 and December 31, 2016 by class of loans:
The Company reclassifies loans held for investment to loans held for sale in the event that the Company plans to sell loans that were originated with the intent to hold to maturity. Loans transferred from held to investment to held for sale are carried at the lower of cost or fair value. The breakdown of loans by type that were reclassified from held to investment to held for sale for the three and six months ended June 30, 2017 and 2016 is presented in the following table:
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) or pool and risk grade. The 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 the 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 losses. That loss experience is then applied to the stratified portfolio at the end of each quarter. For PCI loans, 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 or 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:
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 in accordance with 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 or operation 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 types of collateral. For PCI loans, the allowance for loan losses is based upon expected cash flows for these loans. To the extent that a deterioration in borrower’s 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. Provision for loan losses on acquired loans for the three months ended June 30, 2017 was $215 thousand of which included $70 thousand in credit for loan losses related to PCI loans. Provision for loan losses on acquired loans for the six months ended June 30, 2017 was $2.1 million of which included $64 thousand in credit for loan losses related to PCI loans. The following table presents breakdown of loans by impairment method at June 30, 2017 and December 31, 2016:
Under certain circumstances, the Company provides borrowers relief through loan modifications. These modifications are either temporary in nature (“temporary modifications”) or are more substantive. 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 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. At June 30, 2017, total TDR loans were $69.0 million, compared to $70.9 million at December 31, 2016. A summary of the recorded investment of TDRs on accrual and nonaccrual status by type of concession as of June 30, 2017 and December 31, 2016 is presented below:
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, 2017 were comprised of 20 commercial real estate loans totaling $24.6 million, 20 commercial business loans totaling $23.9 million, and 28 other loans totaling $4.8 million. TDRs on accrual status at December 31, 2016 were comprised of 20 commercial real estate loans totaling $25.1 million, 23 commercial business loans totaling $19.2 million and 19 other loans totaling $4.7 million. The Company expects that TDRs on accrual status as of June 30, 2017, 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 $5.6 million and $5.3 million of specific reserves to TDRs as of June 30, 2017 and December 31, 2016, respectively. The following table presents the recorded investment of loans classified as TDR within the three and six months ended June 30, 2017 and June 30, 2016 by class of loans:
For TDRs modified during the three months ended June 30, 2017, the Company recorded totaled $1.1 million in specific reserves. There were no charge offs of TDR loans modified during the three months ended June 30, 2017. TDRs modified during the six months ended June 30, 2017 had $1.1 million in specific reserves. Charge offs for TDR loans modified during the six months ended June 30, 2017 totaled $131 thousand. TDR loans modified during the three and six months ended June 30, 2016 had specific reserves of $69 thousand. There were no charge offs of TDR loans modified during the three and six months ended June 30, 2016. The following table presents loans modified as TDRs within the previous twelve months ended June 30, 2017 and June 30, 2016 that subsequently had payment defaults during the three and six months ended June 30, 2017 and June 30, 2016:
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, 2017, the specific reserves totaled $181 thousand for the TDRs that had payment defaults during the three and six months ended June 30, 2017. The total charge offs for the TDRs that had payment defaults during the three and six months ended June 30, 2017 were $0 and $131 thousand, respectively. There were three Legacy Loans that subsequently defaulted during the three and six months ended June 30, 2017 that were modified as follows: one Real Estate Commercial loan totaling $796 thousand was modified through payment concession, two commercial business loans totaling $846 thousand were modified through maturity concessions. There was one commercial business Acquired Loan totaling $10 thousand that subsequently defaulted during the three and six months ended June 30, 2017 that was modified through payment concession. As of June 30, 2016, the specific reserves totaled $2.5 million for the TDRs that had payment defaults during the three and six months ended June 30, 2016. The total charge offs for the TDRs that had payment defaults during the three and six months ended June 30, 2016 were $30 thousand. There were ten Legacy Loans that subsequently defaulted during the three and six months ended June 30, 2016 that were modified as follows: four Commercial Business loans totaling $496 thousand were modified through payment concessions, four Commercial Business loans totaling $4.7 million were modified through maturity concessions, one Real Estate Commercial loan totaling $489 thousand was modified through maturity concession, and one Trade Finance loan totaling $2.9 million was modified through maturity concession. There was one Consumer and other Acquired Loan totaling $27 thousand that defaulted during the three and six months ended June 30, 2016 that was modified through maturity concession. |
Deposits |
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Jun. 30, 2017 | |
Banking and Thrift [Abstract] | |
Deposits | Deposits The aggregate amount of time deposits in denominations of $250,000 or more at June 30, 2017 and December 31, 2016, was $1.58 billion and $1.55 billion, respectively. Included in time deposits of $250,000 or more were $300.0 million in California State Treasurer’s deposits at June 30, 2017 and December 31, 2016. The California State Treasurer’s deposits are subject to withdrawal based on the State’s periodic evaluations. The Company is required to pledge eligible collateral of at least 110% of outstanding deposits. At June 30, 2017 and December 31, 2016, securities with carrying values of approximately $342.3 million and $371.6 million, respectively, were pledged as collateral for the California State Treasurer’s deposit. The Company also utilizes brokered deposits as a secondary source of funds. Total brokered deposits at June 30, 2017 and December 31, 2016, totaled $814.7 million and $724.7 million, respectively. |
Borrowings |
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Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings | Borrowings The Company maintains a line of credit with the FHLB of San Francisco for use as a secondary source of funds. The borrowing capacity with the FHLB is limited to the lower of 25% of the Bank’s total assets or the Bank’s collateral capacity, which was $3.24 billion at June 30, 2017, and $3.38 billion at December 31, 2016. 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, 2017 and December 31, 2016, real estate secured loans with a carrying amount of approximately $4.74 billion and $5.53 billion, respectively, were pledged at the FHLB. At June 30, 2017 and December 31, 2016, other than FHLB stock, no securities were pledged as collateral at FHLB. The purchase of FHLB stock is a prerequisite to become a member of the FHLB system, and the Company is required to own a certain amount of stock based on outstanding borrowings. At June 30, 2017 and December 31, 2016, FHLB advances totaled $793.4 million and $754.3 million, respectively, had weighted average effective interest rates of 1.34% and 1.22%, respectively, and had various maturities through June 2022. The Company had a putable advance at June 30, 2017 and December 31, 2016, totaling $20.0 million and $20.2 million, respectively, with a quarterly put date. The effective interest rate of FHLB advances as of June 30, 2017 ranged between 0.84% and 2.02%. At June 30, 2017, the Company’s remaining borrowing capacity with the FHLB was $2.44 billion. At June 30, 2017, the contractual maturities for FHLB advances were as follows:
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, 2017, the outstanding principal balance of the qualifying loans was $680.3 million, and the fair value of investment securities was $5.7 million. There were no borrowings outstanding at the FRB discount window as of June 30, 2017 and December 31, 2016. |
Subordinated Debentures |
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Subordinated Borrowings [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated Debentures | Subordinated Debentures At June 30, 2017, the Company had nine wholly owned subsidiary grantor trusts that had issued $126.0 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”). 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 now has the right to redeem the Debentures in whole (but not in part) on a quarterly basis 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, 2017:
The Company’s investment in the common trust securities of the issuer trusts was $3.9 million at June 30, 2017 and 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. |
Derivative Financial Instruments (Notes) |
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Financial Instruments | he following table reflects the notional amount and fair value of mortgage banking derivatives for the dates indicated:
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Goodwill, Intangible Assets, and Servicing Assets |
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Goodwill, Intangible Assets, and Servicing Assets | Goodwill, Intangible Assets, and Servicing Assets Goodwill represents the excess of the purchase price over the sum of the estimated fair values of the tangible and identifiable intangible assets acquired less the estimated fair value of the liabilities assumed. Goodwill has an indefinite useful life and is evaluated for impairment annually or more frequently if events and circumstances indicate that the asset might be impaired. An impairment loss is recognized to the extent that the carrying amount exceeds the asset’s fair value. At December 31, 2016, management assessed the qualitative factors related to goodwill for the year to determine whether it was more-likely-than-not that the fair value was less than its carrying amount. Based on the analysis of these factors, management determined that it was more-likely-than-not that the fair value of goodwill exceeded the carrying value and that the two-step impairment test was not needed. Goodwill is not amortized for book purposes and is not tax deductible. The carrying amount of the Company’s goodwill as of June 30, 2017 and December 31, 2016 was $464.5 million and $463.0 million, respectively. There was no impairment of goodwill during the three or six months ended June 30, 2017. Goodwill recorded in the third quarter of 2016 from the acquisition of Wilshire totaled $359.0 million. During the fourth quarter of 2016, the Company made a net adjustment of $1.4 million to the deferred tax assets and taxes receivable acquired from Wilshire which reduced the previous goodwill recorded from the transaction by $1.4 million. Subsequently in the first quarter of 2017, the Company made a net adjustment of $978 thousand to OREO and deferred tax assets acquired from Wilshire which increased goodwill recorded from the Wilshire transaction by $978 thousand. During the second quarter of 2017, the Company made an adjustment of $475 thousand to deferred tax assets which increased goodwill by the same amount. These adjustments were made to reflect new information obtained about facts and circumstances that existed as of the acquisition date in accordance with ASC 805-10-25-13. At June 30, 2017, goodwill related to the acquisition of Wilshire totaled $359.0 million. 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 $676 thousand and $212 thousand for the three months ended June 30, 2017 and 2016, respectively. The amortization expense related to core deposit intangible assets totaled $1.4 million and $425 thousand for the six months ended June 30, 2017 and 2016, respectively. The following table provides information regarding the core deposit intangibles at June 30, 2017:
Servicing assets are recognized when SBA or residential mortgage loans are sold with servicing retained with the income statement effect recorded in net gains on sales of SBA and other 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. 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. As of June 30, 2017 and December 31, 2016, the Company did not have a valuation allowance for servicing assets. The changes in servicing assets for the three and six months ended June 30, 2017 and 2016 were as follows:
Loans serviced for others are not reported as assets. The principal balances of loans serviced for other institutions were $1.50 billion as of June 30, 2017 and $1.55 billion as of December 31, 2016. The Company utilizes the discounted cash flow method to calculate the initial excess servicing assets. The inputs used in determining the impairment of the servicing assets at June 30, 2017 and December 31, 2016 are presented below.
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Income Taxes |
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Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes | Income Taxes For the second quarter of 2017, the Company had an income tax provision totaling $25.5 million on pretax income of $66.1 million, representing an effective tax rate of 38.48%, compared with an income tax provision of $16.8 million on pretax income of $40.2 million, representing an effective tax rate of 41.85% for the second quarter of 2016. For the six months ended June 30, 2017, the Company had an income tax provision totaling $48.5 million on pretax income of $125.3 million, representing an effective tax rate of 38.65%, compared with an income tax provision of $33.0 million on pretax income of $80.1 million, representing an effective tax rate of 41.28% for the six months ended June 30, 2016. The reduction in effective tax rate for periods in 2017 compared to periods in 2016 was primarily due to the increase in affordable housing partnership investment tax credits for the three and six months ended June 30, 2017 compared to the same periods in 2016. A reconciliation of the difference between the federal statutory income tax rate and the effective tax rate is shown in the following table for the three and six months ended June 30, 2017 and 2016:
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 $2.1 million at June 30, 2017 and $2.2 million at December 31, 2016, that relate to uncertainties associated with federal and state income tax matters. Other than the accrued interest of $67 thousand related to uncertain tax positions from an acquired entity, the Company recognizes interest and penalties on income tax matters in income tax expense. The Company recorded approximately $319 thousand and $306 thousand for accrued interest and penalties (no portion was related to penalties) at June 30, 2017 and December 31, 2016, respectively. Management believes it is reasonably possible that the unrecognized tax benefits may decrease by approximately $1.0 million in the next twelve months. The statute of limitations for the assessment of income taxes related to the consolidated Federal income tax returns is closed for all tax years up to and including 2012. The expiration of the statute of limitations for the assessment of income and franchise taxes related to the various state income and franchise tax returns varies by state. The Company is currently under examination by the California Franchise Tax Board for the 2011, 2012 and 2013 tax years and by the New York State Department of Taxation and Finance for the 2013, 2014, and 2015 tax years. Wilshire Bancorp, Inc., an acquired entity, is currently under examination by the California Franchise Tax Board for the 2011, 2012, and 2013 tax years and by the New York State Department of Taxation and Finance for the 2011, 2012, 2013, and 2014 tax years. While the outcome of the examinations is unknown, the Company expects no material adjustments. 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, 2017. |
Fair Value Measurements |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements | ous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair value. The fair value inputs of the instruments are classified and disclosed in one of the following categories pursuant to ASC 820: Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. The quoted price shall not be adjusted for any blockage factor (i.e., size of the position relative to trading volume). Level 2 - Pricing inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Fair value is determined through the use of models or other valuation methodologies, including the use of pricing matrices. If the asset or liability has a specified (contractual) term, a Level 2 input must be observable for substantially the full term of the asset or liability. Level 3 - Pricing inputs are unobservable for the asset or liability. Unobservable inputs are used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. The inputs into the determination of fair value require significant management judgment or estimation. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. The Company uses the following methods and assumptions in estimating fair value disclosures for financial instruments. Financial assets and liabilities recorded at fair value on a recurring and non-recurring basis are listed as follows: 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. Interest Rate Swaps The Company offers interest rate swaps to certain loan customers to allow them to hedge the risk of rising interest rates on their variable rate loans. The Company originates a variable rate loan and enters into a variable-to-fixed interest rate swap with the customer. The Company also enters into an offsetting swap with a correspondent bank. These back-to-back agreements are intended to offset each other and allow the Company to originate a variable rate loan, while providing a contract for fixed interest payments for the customer. The net cash flow for the Company is equal to the interest income received from a variable rate loan originated with the customer. The fair value of these derivatives is based on a discounted cash flow approach. Due to the observable nature of the inputs used in deriving the fair value of these derivative contracts, the valuation of interest rate swaps is classified as Level 2. 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, less costs to sell of 8.5%. For commercial and industrial and asset backed loans, independent valuations may be comprised of a 20-60% discount for eligible accounts receivable and a 50-70% discount for inventory. These result in a Level 3 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 of 8.5% and result in a Level 3 classification of the inputs for determining fair value. OREO is reviewed and evaluated on at least a quarterly 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. Mortgage banking derivatives Mortgage banking derivative instruments consist of interest rate lock commitments and forward sale contracts that trade in liquid markets. The fair value is based on the prices available from third party investors. Due to the observable nature of the inputs used in deriving the fair value, the valuation of mortgage banking derivatives are classified as Level 2. Assets and liabilities measured at fair value on a recurring basis are summarized below:
There were no transfers between Level 1, 2, and 3 during the three and six months ended June 30, 2017 and 2016. The following table reflects the notional amount and fair value of mortgage banking derivatives for the date indicated:
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 three and six months ended June 30, 2017 and 2016:
The Company measures certain assets at fair value on a non-recurring basis including impaired loans (excluding PCI loans), loans held for sale, and OREO. These fair value adjustments result from impairments recognized during the period, application of the lower of cost or fair value on loans held for sale, the application of fair value less cost to sell on OREO. Assets measured at fair value on a non-recurring basis are summarized below:
For assets measured at fair value on a non-recurring basis, the total net gains (losses), which include charge offs, recoveries, specific reserves, and recognized gains and losses on sales are summarized below:
Fair Value of Financial Instruments Carrying amounts and estimated fair values of financial instruments, not previously presented, at June 30, 2017 and December 31, 2016 were as follows:
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, 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. The fair value for servicing assets is determined through discounted cash flow analysis and utilizes discount rates, prepayment speeds, and delinquency rate assumptions as inputs. 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. |
Stockholders' Equity |
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Stockholders’ Equity | Stockholders’ Equity On July 29, 2016 the Company acquired Wilshire in an all-stock transaction. Pursuant to the merger agreement, Wilshire shareholders received 0.7034 shares of the Company’s common stock for each share of Wilshire stock owned. Based on this exchange ratio, 55.5 million shares of the Company’s common stock were issued to Wilshire shareholders at $15.37 per share, the closing price of the Company’s stock on July 29, 2016. As a result, $852.9 million in common stock was issued as consideration in the transaction and $3.4 million in additional paid-in capital was recorded to account for the fair value of stock options assumed. Total stockholders’ equity at June 30, 2017 was $1.91 billion, compared to $1.86 billion at December 31, 2016. 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 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, 2017, the U.S. Treasury Department held one remaining warrant for the purchase of 20,087 shares of the Company’s common stock. The Company paid a quarterly dividend of $0.12 per common share for the second quarter of 2017 compared to $0.11 per common share for the second quarter of 2016. For the six months ended June 30, 2017 and 2016, the Company paid total dividends of $0.24 and $0.22, respectively. The following table presents the quarterly changes to accumulated other comprehensive (loss) income for the three and six months ended June 30, 2017 and June 30, 2016:
For the three and six months ended June 30, 2017 and June 30, 2016 there were no reclassifications out of accumulated other comprehensive (loss) income. |
Regulatory Matters |
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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 material and adverse effect on the Company’s and the Bank’s business, financial condition and results of operation, 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. 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:
As of June 30, 2017, the ratios for the Company and the Bank are sufficient to meet the fully phased-in conservation buffer. As of June 30, 2017 and December 31, 2016, the most recent regulatory notification categorized the Bank as “well-capitalized” under the regulatory framework for prompt corrective action. To generally be categorized as “well-capitalized”, the Bank must maintain minimum total risk-based, Tier I risk-based, common equity Tier 1, and Tier I leverage ratios as set forth in the following table. There are no conditions or events since the notification from regulators that management believes has changed the institution’s category. As of June 30, 2017 and December 31, 2016, the Company and the Bank met the capital adequacy requirements to which they are subject. The Company’s and the Bank’s capital amounts and ratios are presented in the table below for the dates indicated:
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Basis of Presentation Basis of Presentation (Policies) |
6 Months Ended |
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Jun. 30, 2017 | |
Basis Of Presentation [Abstract] | |
Consolidation | The consolidated financial statements include the accounts of Hope Bancorp and its wholly owned subsidiaries, principally Bank of Hope. All intercompany transactions and balances have been eliminated in consolidation. The Company has made all adjustments, that in the opinion of management, are necessary to fairly present the Company’s financial position at June 30, 2017 and December 31, 2016 and the results of operations for the three and six months ended June 30, 2017 and 2016. 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 (“GAAP”) 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 significantly from those estimates. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements: In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers” which supersedes the revenue recognition requirements in Topic 605, Revenue Recognition. ASU 2014-09 is based on the principle that revenue is recognized 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. ASU 2014-09 also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts. ASU 2014-09 as amended by ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20, is effective for interim and annual periods beginning after December 15, 2017 and is applied on either a modified retrospective or full retrospective basis. Early adoption is permitted for interim and annual periods beginning after December 15, 2016. The Company’s revenue primarily consists of net interest income and noninterest income. The scope of the guidance explicitly excludes net interest income, as well as other revenues from financial instruments such as loans, leases, securities and derivatives. Certain noninterest income revenue items such as service charges on deposits accounts, gain/loss on other real estate owned sales, and other income items may be in the scope of ASU 2014-09 and how these revenue streams are recognized may change. The Company is currently in the process of evaluating the impact of ASU 2014-09 on its consolidated financial statements, but does not expect the adoption of ASU 2014-09 to have a material impact on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”. The new standard establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is currently in the process of evaluating the impact of the pending adoption of the new standard on its consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. ASU 2016-13 becomes effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2019. The Company is currently in the process of evaluating the impact of the pending adoption of the new standard on its consolidated financial statements. In March 2017, the FASB issued ASU 2017-08, “Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities”. ASU 2017-08 was issued to amend the amortization period for certain callable debt securities held at a premium. ASU 2017-08 shortens the amortization period of premiums on certain purchased callable debt securities to the earliest call date. ASU 2017-08 affect all entities that hold investments in callable debt securities that have an amortized cost basis in excess of the amount that is repayable by the issuer at the earliest call date (that is, at a premium). ASU 2017-08 does not impact securities purchased at a discount, which continue to be amortized to maturity. ASU 2017-08 is effective for annual period beginning after December 15, 2018, including interim periods within those annual periods. Early adoption is permitted in an interim period. If an entity chooses to adopt early, any adjustments should be reflected as of the beginning of the fiscal year that includes the interim period. The adoption of ASU 2017-08 is not expected to have a material impact on the Company’s consolidated financial statements. In May 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718): Scope of Modification”. ASU 2017-09 was issued to provide clarity and reduce both 1) diversity in practice and 2) cost and complexity when applying the guidance in Topic 718, Compensation - Stock Compensation, to a change to the terms or conditions of a share-based payment award. Diversity in practice has arisen in part because some entities apply modification accounting under Topic 718 for modifications to terms and conditions that they consider substantive, but do not when they conclude that particular modifications are not substantive. Others apply modification accounting for any change to an award, except for changes that they consider purely administrative in nature. Still others apply modification accounting when a change to an award changes the fair value, the vesting, or the classification of the award. In practice, it appears that the evaluation of a change in fair value, vesting, or classification may be used to evaluate whether a change is substantive. ASU 2017-09 include guidance on determining which changes to the terms and conditions of share-based payment awards require an entity to apply modification accounting under Topic 718. ASU 2017-09 is effective for the annual period, and interim periods within the annual periods, beginning after December 15, 2017. Early adoption is permitted, including adoption in any interim period for: (a) public business entities for reporting periods for which financial statements have not yet been issued, and (b) all other entities for reporting periods for which financial statements have not yet been made available for issuance. ASU 2017-09 should be applied prospectively to an award modified on or after the adoption date. The Company is currently in the process of evaluating the impact of ASU 2017-09 on its consolidated financial statements, but does not expect the adoption of ASU 2017-09 to have material impact on it consolidated financial statements. |
Mergers and Acquisitions (Tables) |
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Business Combinations [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consideration Paid, Assets Acquired and Liabilities Assumed | The consideration paid, the assets acquired, and the liabilities assumed are summarized in the following table:
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Acquisition Related Expenses | The following table presents merger-related expenses associated with the merger with Wilshire, the pending merger with U & I, and other previous transactions which were reflected in the Consolidated Statements of Income in merger and integration expenses. These expenses are comprised primarily of salaries and employee benefits, professional fees, and other noninterest expenses related to mergers.
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Stock-Based Compensation (Tables) |
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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 2016 Plan for the six months ended June 30, 2017:
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Summary of Restricted and Performance Unit Activity Under the Plan | The following is a summary of restricted stock and performance unit activity under the 2007 Plan and 2016 Plan for the six months ended June 30, 2017:
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Earnings Per Share (Tables) |
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Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Computation of basic and diluted EPS | The following tables show the computation of basic and diluted EPS for the three and six months ended June 30, 2017 and 2016.
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Securities Available for Sale (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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:
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Investments Classified by Contractual Maturity Date | The amortized cost and estimated fair value of investment securities at June 30, 2017, 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.
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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.
* Investments in U.S. Government agency and U.S. Government sponsored enterprises
__________________________________ * Investments in U.S. Government agency and U.S. Government sponsored enterprises |
Loans Receivable and Allowance for Loan Losses (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Loans Receivable by Major Category | The following is a summary of loans receivable by major category:
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Loans and Leases Acquired, Accretable Yield Movement Schedule | The following table presents changes in the accretable discount on the PCI loans for the three and six months ended June 30, 2017 and 2016:
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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, 2017 and 2016:
The following tables break out the allowance for loan losses and the recorded investment of loans outstanding (not including accrued interest receivables and net deferred loan fees) by individually impaired, general valuation, and PCI impairment, by portfolio segment, at June 30, 2017 and December 31, 2016:
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Impaired Financing Receivables | The recorded investment of individually impaired loans was as follows:
The following tables detail the recorded investment of impaired loans (Legacy Loans and Acquired Loans that became impaired subsequent to being originated and acquired, respectfully) as of June 30, 2017 and December 31, 2016 and average recorded investment and interest income recognized for the three and six months ended June 30, 2017 and 2016. Loans with no related allowance are believed by management to be adequately collateralized.
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Aging of Past Due Loans | The following tables present the recorded investment of past due loans by the number of days past due as of June 30, 2017 and December 31, 2016 by class of loans:
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Risk Category of Loans by Class of Loans | The following tables present the recorded investment of risk ratings for Legacy and Acquired Loans as of June 30, 2017 and December 31, 2016 by class of loans:
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Loans Sold From Loans Held For Investment |
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Allowance for Loan Losses and Impaired Loans, Qualitative and Quantitative Analysis | The following table presents breakdown of loans by impairment method at June 30, 2017 and December 31, 2016:
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Troubled Debt Restructurings | A summary of the recorded investment of TDRs on accrual and nonaccrual status by type of concession as of June 30, 2017 and December 31, 2016 is presented below:
The following table presents the recorded investment of loans classified as TDR within the three and six months ended June 30, 2017 and June 30, 2016 by class of loans:
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Summary of Troubled Debt Restructurings with Subsequent Payment Default | The following table presents loans modified as TDRs within the previous twelve months ended June 30, 2017 and June 30, 2016 that subsequently had payment defaults during the three and six months ended June 30, 2017 and June 30, 2016:
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Borrowings (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contractual Maturities for FHLB-SF Borrowings | At June 30, 2017, the contractual maturities for FHLB advances were as follows:
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Subordinated Debentures (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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, 2017:
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Derivative Financial Instruments (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location | At June 30, 2017 and December 31, 2016, the following interest rate swaps related to our loan hedging program were outstanding:
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Schedule of Derivative Instruments | The following table reflects the notional amount and fair value of mortgage banking derivatives for the dates indicated:
The following table reflects the notional amount and fair value of mortgage banking derivatives for the date indicated:
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Goodwill, Intangible Assets, and Servicing Assets (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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, 2017:
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Schedule of Servicing Assets | The changes in servicing assets for the three and six months ended June 30, 2017 and 2016 were as follows:
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Summary of Fair Value Inputs | The inputs used in determining the impairment of the servicing assets at June 30, 2017 and December 31, 2016 are presented below.
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Fair Value Measurements (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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:
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Schedule of Derivative Instruments | The following table reflects the notional amount and fair value of mortgage banking derivatives for the dates indicated:
The following table reflects the notional amount and fair value of mortgage banking derivatives for the date indicated:
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Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | 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 three and six months ended June 30, 2017 and 2016:
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Assets Measured at Fair Value on a Non-recurring Basis | Assets measured at fair value on a non-recurring basis are summarized below:
For assets measured at fair value on a non-recurring basis, the total net gains (losses), which include charge offs, recoveries, specific reserves, and recognized gains and losses on sales are summarized below:
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Carrying Amounts and Estimated Fair Values of Financial Instruments | Carrying amounts and estimated fair values of financial instruments, not previously presented, at June 30, 2017 and December 31, 2016 were as follows:
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Stockholders’ Equity (Tables) |
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Stockholders’ Equity and Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table presents the quarterly changes to accumulated other comprehensive (loss) income for the three and six months ended June 30, 2017 and June 30, 2016:
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Regulatory Matters (Tables) |
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Banking and Thrift [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations |
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Mergers and Acquisitions - Acquisition Related Expenses (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
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Business Acquisition [Line Items] | ||||
Total merger and integration expenses | $ 562 | $ 1,533 | $ 1,509 | $ 2,740 |
Merger and Integration Expense | ||||
Business Acquisition [Line Items] | ||||
Total merger and integration expenses | 562 | 1,533 | 1,509 | 2,740 |
Merger and Integration Expense | Wilshire | ||||
Business Acquisition [Line Items] | ||||
Total merger and integration expenses | 538 | 1,509 | 939 | 2,692 |
Merger and Integration Expense | U & I Financial Corp [Member] | ||||
Business Acquisition [Line Items] | ||||
Total merger and integration expenses | 0 | 0 | 522 | 0 |
Merger and Integration Expense | Other | ||||
Business Acquisition [Line Items] | ||||
Total merger and integration expenses | $ 24 | $ 24 | $ 48 | $ 48 |
Loans Receivable and Allowance for Loan Losses - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) $ in Thousands |
6 Months Ended | |||||
---|---|---|---|---|---|---|
Jun. 30, 2017
USD ($)
segment
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Mar. 31, 2017
USD ($)
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Dec. 31, 2016
USD ($)
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Jun. 30, 2016
USD ($)
|
Mar. 31, 2016
USD ($)
|
Dec. 31, 2015
USD ($)
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Real estate loans: | ||||||
Loans | $ 10,818,344 | $ 10,544,989 | ||||
Less: deferred loan fees | (1,925) | (1,657) | ||||
Loans receivable | 10,816,419 | 10,543,332 | ||||
Less: allowance for loan losses | (80,074) | $ (78,659) | (79,343) | $ (76,425) | $ (76,856) | $ (76,408) |
Loans receivable, net of allowance for loan losses | $ 10,736,345 | 10,463,989 | ||||
Number of portfolio segments | segment | 4 | |||||
Real estate loans | ||||||
Real estate loans: | ||||||
Loans | $ 8,432,395 | 8,154,570 | ||||
Real estate loans | Residential | ||||||
Real estate loans: | ||||||
Loans | 60,544 | 57,884 | ||||
Less: allowance for loan losses | (171) | (209) | ||||
Real estate loans | Commercial & industrial | ||||||
Real estate loans: | ||||||
Loans | 8,065,057 | 7,842,573 | ||||
Less: allowance for loan losses | (51,902) | (49,917) | ||||
Real estate loans | Construction | ||||||
Real estate loans: | ||||||
Loans | 306,794 | 254,113 | ||||
Less: allowance for loan losses | (1,816) | (1,621) | ||||
Commercial business | ||||||
Real estate loans: | ||||||
Loans | 1,744,103 | 1,832,021 | ||||
Less: allowance for loan losses | (22,786) | (23,547) | ||||
Trade finance | ||||||
Real estate loans: | ||||||
Loans | 181,400 | 154,928 | ||||
Less: allowance for loan losses | (1,106) | (1,897) | ||||
Consumer and other | ||||||
Real estate loans: | ||||||
Loans | 460,446 | 403,470 | ||||
Less: allowance for loan losses | $ (2,293) | $ (2,152) |
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, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
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Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Balance at beginning of period | $ 51,651 | $ 22,097 | $ 38,591 | $ 23,777 |
Accretion | (5,212) | (2,474) | (10,560) | (5,503) |
Changes in expected cash flows | 7,218 | 527 | 25,626 | 1,876 |
Balance at end of period | $ 53,657 | $ 20,150 | $ 53,657 | $ 20,150 |
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, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Dec. 31, 2016 |
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Allowance for Loan Losses and the Loans Receivables by Impairment Methodology | ||||||
Recognized provision for credit losses related to unfunded commitments | $ 201 | $ 109 | $ 442 | $ (461) | ||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 78,659 | 76,856 | 79,343 | 76,408 | ||
Provision (credit) for loan losses | 2,760 | 1,200 | 8,360 | 1,700 | ||
Loans charged off | (2,122) | (2,295) | (8,727) | (3,116) | ||
Recoveries of charged offs | 777 | 664 | 1,098 | 1,433 | ||
Balance, end of period | 80,074 | 76,425 | 80,074 | 76,425 | ||
Allowance for loan losses - Individually evaluated for impairment | $ 8,950 | $ 7,409 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 59,058 | 59,804 | ||||
Allowance for loan losses - Total | 78,659 | 76,856 | 79,343 | 76,408 | 80,074 | 79,343 |
Loans outstanding - Individually evaluated for impairment | 100,663 | 140,361 | ||||
Loans outstanding - Collectively evaluated for impairment | 10,471,024 | 10,131,183 | ||||
Loans outstanding - ACILs | 10,736,345 | 10,463,989 | ||||
Total loans outstanding | 10,818,344 | 10,544,989 | ||||
Legacy | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Total loans outstanding | 7,522,251 | 6,721,566 | ||||
Acquired | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Provision (credit) for loan losses | 215 | 2,100 | ||||
Total loans outstanding | 3,296,093 | 3,823,423 | ||||
Real estate | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Total loans outstanding | 8,432,395 | 8,154,570 | ||||
Real estate | Legacy | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 43,929 | 42,115 | 38,956 | 42,829 | ||
Provision (credit) for loan losses | (2,596) | 1,375 | 3,510 | 157 | ||
Loans charged off | (892) | 0 | (2,046) | (19) | ||
Recoveries of charged offs | 37 | 176 | 58 | 699 | ||
Balance, end of period | 40,478 | 43,666 | 40,478 | 43,666 | ||
Allowance for loan losses - Individually evaluated for impairment | 1,907 | 1,889 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 38,571 | 37,067 | ||||
Allowance for loan losses - Total | 43,929 | 42,115 | 38,956 | 42,829 | 40,478 | 38,956 |
Loans outstanding - Individually evaluated for impairment | 46,357 | 74,085 | ||||
Loans outstanding - Collectively evaluated for impairment | 5,829,796 | 5,271,262 | ||||
Total loans outstanding | 5,876,153 | 5,345,347 | ||||
Real estate | Acquired | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 13,455 | 12,626 | 12,791 | 12,823 | ||
Provision (credit) for loan losses | (69) | 187 | 906 | 105 | ||
Loans charged off | 19 | (207) | (317) | (323) | ||
Recoveries of charged offs | 6 | 1 | 31 | 2 | ||
Balance, end of period | 13,411 | 12,607 | 13,411 | 12,607 | ||
Allowance for loan losses - Individually evaluated for impairment | 256 | 113 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 1,089 | 548 | ||||
Allowance for loan losses - Total | 13,455 | 12,626 | 12,791 | 12,823 | 13,411 | 12,791 |
Loans outstanding - Individually evaluated for impairment | 12,045 | 23,865 | ||||
Loans outstanding - Collectively evaluated for impairment | 2,365,273 | 2,597,200 | ||||
Total loans outstanding | 2,556,242 | 2,809,223 | ||||
Commercial business | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 23,547 | |||||
Balance, end of period | 22,786 | 22,786 | ||||
Allowance for loan losses - Total | 22,786 | 23,547 | 22,786 | 23,547 | ||
Total loans outstanding | 1,744,103 | 1,832,021 | ||||
Commercial business | Legacy | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 17,479 | 19,048 | 23,430 | 16,332 | ||
Provision (credit) for loan losses | 3,741 | (798) | 857 | 2,349 | ||
Loans charged off | (425) | (2,005) | (3,615) | (2,626) | ||
Recoveries of charged offs | 700 | 331 | 823 | 521 | ||
Balance, end of period | 21,495 | 16,576 | 21,495 | 16,576 | ||
Allowance for loan losses - Individually evaluated for impairment | 6,303 | 4,420 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 15,192 | 19,010 | ||||
Allowance for loan losses - Total | 17,479 | 19,048 | 23,430 | 16,332 | 21,495 | 23,430 |
Loans outstanding - Individually evaluated for impairment | 35,487 | 34,783 | ||||
Loans outstanding - Collectively evaluated for impairment | 1,235,783 | 1,079,348 | ||||
Total loans outstanding | 1,271,270 | 1,114,131 | ||||
Commercial business | Acquired | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 944 | 154 | 117 | 214 | ||
Provision (credit) for loan losses | 374 | (42) | 1,122 | (154) | ||
Loans charged off | (55) | (33) | (125) | (33) | ||
Recoveries of charged offs | 28 | 69 | 177 | 121 | ||
Balance, end of period | 1,291 | 148 | 1,291 | 148 | ||
Allowance for loan losses - Individually evaluated for impairment | 451 | 73 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 840 | 44 | ||||
Allowance for loan losses - Total | 944 | 154 | 117 | 214 | 1,291 | 117 |
Loans outstanding - Individually evaluated for impairment | 1,285 | 435 | ||||
Loans outstanding - Collectively evaluated for impairment | 419,050 | 650,710 | ||||
Total loans outstanding | 472,833 | 717,890 | ||||
Trade finance | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 1,897 | |||||
Balance, end of period | 1,106 | 1,106 | ||||
Allowance for loan losses - Total | 1,106 | 1,897 | 1,106 | 1,897 | ||
Total loans outstanding | 181,400 | 154,928 | ||||
Trade finance | Legacy | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 624 | 2,085 | 1,897 | 3,592 | ||
Provision (credit) for loan losses | 900 | 364 | 1,203 | (1,143) | ||
Loans charged off | (528) | 0 | (2,104) | 0 | ||
Recoveries of charged offs | 4 | 0 | 4 | 0 | ||
Balance, end of period | 1,000 | 2,449 | 1,000 | 2,449 | ||
Allowance for loan losses - Individually evaluated for impairment | 3 | 864 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 997 | 1,033 | ||||
Allowance for loan losses - Total | 624 | 2,085 | 1,897 | 3,592 | 1,000 | 1,897 |
Loans outstanding - Individually evaluated for impairment | 4,182 | 6,029 | ||||
Loans outstanding - Collectively evaluated for impairment | 105,921 | 75,365 | ||||
Total loans outstanding | 110,103 | 81,394 | ||||
Trade finance | Acquired | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 187 | 0 | 0 | 0 | ||
Provision (credit) for loan losses | (81) | 0 | 106 | 0 | ||
Loans charged off | 0 | 0 | 0 | 0 | ||
Recoveries of charged offs | 0 | 0 | 0 | 0 | ||
Balance, end of period | 106 | 0 | 106 | 0 | ||
Allowance for loan losses - Individually evaluated for impairment | 0 | 0 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 106 | 0 | ||||
Allowance for loan losses - Total | 187 | 0 | 0 | 0 | 106 | 0 |
Loans outstanding - Individually evaluated for impairment | 0 | 0 | ||||
Loans outstanding - Collectively evaluated for impairment | 68,108 | 70,535 | ||||
Total loans outstanding | 71,297 | 73,534 | ||||
Consumer and other | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 2,152 | |||||
Balance, end of period | 2,293 | 2,293 | ||||
Allowance for loan losses - Total | 2,293 | 2,152 | 2,293 | 2,152 | ||
Total loans outstanding | 460,446 | 403,470 | ||||
Consumer and other | Legacy | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 2,022 | 768 | 2,116 | 556 | ||
Provision (credit) for loan losses | 500 | 123 | 684 | 399 | ||
Loans charged off | (241) | (50) | (520) | (115) | ||
Recoveries of charged offs | 1 | 85 | 2 | 86 | ||
Balance, end of period | 2,282 | 926 | 2,282 | 926 | ||
Allowance for loan losses - Individually evaluated for impairment | 30 | 50 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 2,252 | 2,066 | ||||
Allowance for loan losses - Total | 2,022 | 768 | 2,116 | 556 | 2,282 | 2,116 |
Loans outstanding - Individually evaluated for impairment | 697 | 733 | ||||
Loans outstanding - Collectively evaluated for impairment | 264,028 | 179,961 | ||||
Total loans outstanding | 264,725 | 180,694 | ||||
Consumer and other | Acquired | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 19 | 60 | 36 | 62 | ||
Provision (credit) for loan losses | (9) | (9) | (28) | (13) | ||
Loans charged off | 0 | 0 | 0 | 0 | ||
Recoveries of charged offs | 1 | 2 | 3 | 4 | ||
Balance, end of period | 11 | 53 | 11 | 53 | ||
Allowance for loan losses - Individually evaluated for impairment | 0 | 0 | ||||
Allowance for loan losses - Collectively evaluated for impairment | 11 | 36 | ||||
Allowance for loan losses - Total | 19 | $ 60 | 36 | $ 62 | 11 | 36 |
Loans outstanding - Individually evaluated for impairment | 610 | 431 | ||||
Loans outstanding - Collectively evaluated for impairment | 183,065 | 206,802 | ||||
Total loans outstanding | 195,721 | 222,776 | ||||
Receivables acquired with deteriorated credit quality | ||||||
Allowance for Loan Losses by Portfolio Segment | ||||||
Balance, beginning of period | 12,130 | |||||
Balance, end of period | 12,066 | 12,066 | ||||
Allowance for loan losses - Total | 12,066 | 12,130 | 12,066 | 12,130 | ||
Loans outstanding - ACILs | 246,657 | 273,445 | ||||
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 - Total | 0 | 0 | 0 | 0 | ||
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 | 12,130 | |||||
Balance, end of period | 12,066 | 12,066 | ||||
Allowance for loan losses - Total | 12,066 | 12,130 | 12,066 | 12,130 | ||
Loans outstanding - ACILs | 178,924 | 188,158 | ||||
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 - Total | 0 | 0 | 0 | 0 | ||
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 - Total | 0 | 0 | 0 | 0 | ||
Loans outstanding - ACILs | 52,498 | 66,745 | ||||
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 - Total | 0 | 0 | 0 | 0 | ||
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 - Total | 0 | 0 | 0 | 0 | ||
Loans outstanding - ACILs | 3,189 | 2,999 | ||||
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 - Total | 0 | 0 | 0 | 0 | ||
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 - Total | $ 0 | $ 0 | 0 | 0 | ||
Loans outstanding - ACILs | $ 12,046 | $ 15,543 |
Loans Receivable and Allowance for Loan Losses - Impaired Financing Receivables (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | [1] | $ 39,729 | $ 39,729 | $ 60,758 | ||||||
Recorded Investment, With no related allowance | [1] | 60,934 | 60,934 | 79,603 | ||||||
Related Allowance | (8,950) | (8,950) | (7,409) | |||||||
Impaired Loans, net of allowance | 91,713 | 91,713 | 132,952 | |||||||
Total recorded investment | [1] | 100,663 | 100,663 | 140,361 | ||||||
Impaired Loans, Unpaid Principal Balance | ||||||||||
Unpaid Contractual Principal Balance, With related allowance | 44,335 | 44,335 | 62,494 | |||||||
Unpaid Contractual Principal Balance, With no related allowance | 76,619 | 76,619 | 91,065 | |||||||
Impaired Financing Receivable, Unpaid Principal Balance | 120,954 | 120,954 | 153,559 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | [1] | 45,934 | $ 72,920 | 50,877 | $ 74,636 | |||||
Average Recorded Investment, With no related allowance | [1] | 69,187 | 65,571 | 72,658 | 63,718 | |||||
Average Recorded Investment, Total | [1] | 115,121 | 138,491 | 123,535 | 138,354 | |||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 422 | 604 | 774 | 1,171 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 270 | 493 | 538 | 987 | ||||||
Interest Income Recognized during Impairment, Total | 692 | 1,097 | $ 1,312 | 2,158 | ||||||
Threshold period for loans to be placed on nonaccrual status | 90 days | |||||||||
WIthout charge-offs | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 37,636 | $ 37,636 | 59,638 | |||||||
Recorded Investment, With no related allowance | 54,707 | 54,707 | 76,775 | |||||||
With charge-offs | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 2,093 | 2,093 | 1,120 | |||||||
Recorded Investment, With no related allowance | 6,227 | 6,227 | 2,828 | |||||||
Acquired | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 3,247 | 3,247 | 2,593 | |||||||
Recorded Investment, With no related allowance | 10,693 | 10,693 | 22,138 | |||||||
Related Allowance | (707) | (707) | (186) | |||||||
Total recorded investment | 13,940 | 13,940 | 24,731 | |||||||
Impaired Loans, Unpaid Principal Balance | ||||||||||
Unpaid Contractual Principal Balance, With related allowance | 6,711 | 6,711 | 2,930 | |||||||
Unpaid Contractual Principal Balance, With no related allowance | 14,533 | 14,533 | 26,118 | |||||||
Impaired Financing Receivable, Unpaid Principal Balance | 21,244 | 21,244 | 29,048 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | 2,503 | 2,329 | 2,534 | 2,736 | ||||||
Average Recorded Investment, With no related allowance | 14,774 | 16,155 | 17,228 | 16,587 | ||||||
Average Recorded Investment, Total | 17,277 | 18,484 | 19,762 | 19,323 | ||||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 10 | 11 | 18 | 22 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 33 | 80 | 66 | 163 | ||||||
Interest Income Recognized during Impairment, Total | 43 | 91 | 84 | 185 | ||||||
Real estate | Residential | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 0 | [1] | 0 | [1] | 0 | |||||
Recorded Investment, With no related allowance | 0 | [1] | 0 | [1] | 3,562 | |||||
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 | 3,562 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | [1] | 0 | 0 | 0 | 0 | |||||
Average Recorded Investment, With no related allowance | [1] | 732 | 0 | 1,675 | 0 | |||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | 0 | ||||||
Real estate | Residential | Acquired | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 0 | 0 | 0 | |||||||
Recorded Investment, With no related allowance | 0 | 0 | 679 | |||||||
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 | 679 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | 0 | 0 | 0 | 0 | ||||||
Average Recorded Investment, With no related allowance | 0 | 0 | 226 | 0 | ||||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | 0 | ||||||
Real estate | Commercial & industrial | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Related Allowance | (2,163) | (2,163) | (2,002) | |||||||
Real estate | Commercial & industrial | Retail | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 1,464 | [1] | 1,464 | [1] | 2,095 | |||||
Recorded Investment, With no related allowance | 9,675 | [1] | 9,675 | [1] | 12,753 | |||||
Related Allowance | (134) | (134) | (90) | |||||||
Impaired Loans, Unpaid Principal Balance | ||||||||||
Unpaid Contractual Principal Balance, With related allowance | 1,583 | 1,583 | 2,384 | |||||||
Unpaid Contractual Principal Balance, With no related allowance | 11,057 | 11,057 | 13,290 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | [1] | 1,022 | 1,486 | 1,380 | 1,614 | |||||
Average Recorded Investment, With no related allowance | [1] | 13,214 | 10,029 | 13,060 | 10,454 | |||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 4 | 0 | 7 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 82 | 79 | 161 | 160 | ||||||
Real estate | Commercial & industrial | Retail | Acquired | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 1,194 | 1,194 | 1,826 | |||||||
Recorded Investment, With no related allowance | 1,456 | 1,456 | 3,148 | |||||||
Related Allowance | (128) | (128) | (85) | |||||||
Impaired Loans, Unpaid Principal Balance | ||||||||||
Unpaid Contractual Principal Balance, With related allowance | 1,313 | 1,313 | 2,114 | |||||||
Unpaid Contractual Principal Balance, With no related allowance | 1,508 | 1,508 | 3,214 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | 753 | 1,103 | 1,110 | 1,125 | ||||||
Average Recorded Investment, With no related allowance | 2,903 | 2,491 | 2,985 | 2,542 | ||||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 4 | 0 | 7 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 15 | 26 | 30 | 52 | ||||||
Real estate | Commercial & industrial | Hotel & motel | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 1,843 | [1] | 1,843 | [1] | 6,387 | |||||
Recorded Investment, With no related allowance | 12,817 | [1] | 12,817 | [1] | 6,122 | |||||
Related Allowance | (109) | (109) | (337) | |||||||
Impaired Loans, Unpaid Principal Balance | ||||||||||
Unpaid Contractual Principal Balance, With related allowance | 2,606 | 2,606 | 6,387 | |||||||
Unpaid Contractual Principal Balance, With no related allowance | 18,499 | 18,499 | 11,735 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | [1] | 4,119 | 2,925 | 4,875 | 3,515 | |||||
Average Recorded Investment, With no related allowance | [1] | 9,545 | 8,922 | 8,404 | 8,479 | |||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 16 | 16 | 32 | 32 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 0 | 49 | 0 | 98 | ||||||
Real estate | Commercial & industrial | Hotel & motel | Acquired | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 260 | 260 | 0 | |||||||
Recorded Investment, With no related allowance | 4,807 | 4,807 | 4,767 | |||||||
Related Allowance | (2) | (2) | 0 | |||||||
Impaired Loans, Unpaid Principal Balance | ||||||||||
Unpaid Contractual Principal Balance, With related allowance | 1,005 | 1,005 | 0 | |||||||
Unpaid Contractual Principal Balance, With no related allowance | 7,285 | 7,285 | 7,171 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | 176 | 0 | 117 | 0 | ||||||
Average Recorded Investment, With no related allowance | 4,823 | 5,903 | 4,805 | 6,273 | ||||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 0 | 3 | 0 | 7 | ||||||
Real estate | Commercial & industrial | Gas station & car wash | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 0 | [1] | 0 | [1] | 215 | |||||
Recorded Investment, With no related allowance | 3,106 | [1] | 3,106 | [1] | 5,043 | |||||
Related Allowance | 0 | 0 | (41) | |||||||
Impaired Loans, Unpaid Principal Balance | ||||||||||
Unpaid Contractual Principal Balance, With related allowance | 0 | 0 | 228 | |||||||
Unpaid Contractual Principal Balance, With no related allowance | 6,321 | 6,321 | 7,449 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | [1] | 0 | 794 | 72 | 1,052 | |||||
Average Recorded Investment, With no related allowance | [1] | 3,633 | 5,268 | 4,103 | 4,763 | |||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 9 | 0 | 19 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 0 | 25 | 0 | 50 | ||||||
Real estate | Commercial & industrial | Gas station & car wash | Acquired | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 0 | 0 | 0 | |||||||
Recorded Investment, With no related allowance | 460 | 460 | 1,568 | |||||||
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 | 903 | 903 | 1,815 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | 0 | 0 | 0 | 339 | ||||||
Average Recorded Investment, With no related allowance | 539 | 1,593 | 882 | 1,458 | ||||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 0 | 25 | 0 | 50 | ||||||
Real estate | Commercial & industrial | Mixed use | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 287 | [1] | 287 | [1] | 206 | |||||
Recorded Investment, With no related allowance | 1,229 | [1] | 1,229 | [1] | 7,303 | |||||
Related Allowance | (3) | (3) | (27) | |||||||
Impaired Loans, Unpaid Principal Balance | ||||||||||
Unpaid Contractual Principal Balance, With related allowance | 2,695 | 2,695 | 732 | |||||||
Unpaid Contractual Principal Balance, With no related allowance | 1,773 | 1,773 | 7,822 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | [1] | 268 | 386 | 247 | 445 | |||||
Average Recorded Investment, With no related allowance | [1] | 3,879 | 2,331 | 5,020 | 2,348 | |||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 2 | 2 | 3 | 3 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 0 | 12 | 0 | 24 | ||||||
Real estate | Commercial & industrial | Mixed use | Acquired | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 248 | 248 | 136 | |||||||
Recorded Investment, With no related allowance | 46 | 46 | 5,315 | |||||||
Related Allowance | (2) | (2) | (2) | |||||||
Impaired Loans, Unpaid Principal Balance | ||||||||||
Unpaid Contractual Principal Balance, With related allowance | 2,099 | 2,099 | 136 | |||||||
Unpaid Contractual Principal Balance, With no related allowance | 274 | 274 | 5,551 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | 249 | 316 | 212 | 375 | ||||||
Average Recorded Investment, With no related allowance | 2,664 | 271 | 3,548 | 272 | ||||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 2 | 2 | 3 | 3 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 0 | 3 | 0 | 5 | ||||||
Real estate | Commercial & industrial | Industrial & warehouse | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 503 | [1] | 503 | [1] | 530 | |||||
Recorded Investment, With no related allowance | 8,725 | [1] | 8,725 | [1] | 9,673 | |||||
Related Allowance | (101) | (101) | 0 | |||||||
Impaired Loans, Unpaid Principal Balance | ||||||||||
Unpaid Contractual Principal Balance, With related allowance | 1,198 | 1,198 | 530 | |||||||
Unpaid Contractual Principal Balance, With no related allowance | 8,800 | 8,800 | 9,748 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | [1] | 1,692 | 552 | 1,305 | 555 | |||||
Average Recorded Investment, With no related allowance | [1] | 8,612 | 10,957 | 8,965 | 10,294 | |||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 6 | 0 | 12 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 58 | 89 | 116 | 179 | ||||||
Real estate | Commercial & industrial | Industrial & warehouse | Acquired | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 503 | 503 | 0 | |||||||
Recorded Investment, With no related allowance | 64 | 64 | 66 | |||||||
Related Allowance | (101) | (101) | 0 | |||||||
Impaired Loans, Unpaid Principal Balance | ||||||||||
Unpaid Contractual Principal Balance, With related allowance | 1,198 | 1,198 | 0 | |||||||
Unpaid Contractual Principal Balance, With no related allowance | 64 | 64 | 66 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | 251 | 0 | 168 | 0 | ||||||
Average Recorded Investment, With no related allowance | 65 | 1,090 | 65 | 1,103 | ||||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 1 | 2 | 2 | 5 | ||||||
Real estate | Commercial & industrial | Other | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 4,755 | [1] | 4,755 | [1] | 22,580 | |||||
Recorded Investment, With no related allowance | 12,698 | [1] | 12,698 | [1] | 20,181 | |||||
Related Allowance | (1,816) | (1,816) | (1,507) | |||||||
Impaired Loans, Unpaid Principal Balance | ||||||||||
Unpaid Contractual Principal Balance, With related allowance | 5,000 | 5,000 | 22,825 | |||||||
Unpaid Contractual Principal Balance, With no related allowance | 13,870 | 13,870 | 21,492 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | [1] | 13,584 | 24,257 | 16,583 | 24,372 | |||||
Average Recorded Investment, With no related allowance | [1] | 14,173 | 10,676 | 16,176 | 11,534 | |||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 60 | 274 | 117 | 550 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 81 | 43 | 162 | 85 | ||||||
Real estate | Commercial & industrial | Other | Acquired | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 328 | 328 | 337 | |||||||
Recorded Investment, With no related allowance | 2,679 | 2,679 | 6,023 | |||||||
Related Allowance | (23) | (23) | (26) | |||||||
Impaired Loans, Unpaid Principal Balance | ||||||||||
Unpaid Contractual Principal Balance, With related allowance | 332 | 332 | 341 | |||||||
Unpaid Contractual Principal Balance, With no related allowance | 3,234 | 3,234 | 6,752 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | 330 | 324 | 333 | 318 | ||||||
Average Recorded Investment, With no related allowance | 2,931 | 3,761 | 3,961 | 3,799 | ||||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 4 | 4 | 8 | 9 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 8 | 13 | 16 | 26 | ||||||
Real estate | Construction | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 0 | [1] | 0 | [1] | 0 | |||||
Recorded Investment, With no related allowance | 1,300 | [1] | 1,300 | [1] | 1,300 | |||||
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 | 1,441 | 1,441 | 1,441 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | [1] | 0 | 0 | 0 | 0 | |||||
Average Recorded Investment, With no related allowance | [1] | 2,078 | 1,321 | 1,819 | 1,337 | |||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | 0 | ||||||
Real estate | Construction | Acquired | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 0 | 0 | 0 | |||||||
Recorded Investment, With no related allowance | 0 | 0 | 0 | |||||||
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 | 0 | 0 | 0 | ||||||
Average Recorded Investment, With no related allowance | 0 | 0 | 0 | 0 | ||||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | 0 | ||||||
Commercial business | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 26,770 | [1] | 26,770 | [1] | 26,543 | |||||
Recorded Investment, With no related allowance | 10,002 | [1] | 10,002 | [1] | 8,675 | |||||
Related Allowance | (6,754) | (6,754) | (4,493) | |||||||
Impaired Loans, Unpaid Principal Balance | ||||||||||
Unpaid Contractual Principal Balance, With related allowance | 27,146 | 27,146 | 27,161 | |||||||
Unpaid Contractual Principal Balance, With no related allowance | 13,452 | 13,452 | 9,472 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | [1] | 23,154 | 35,826 | 24,284 | 34,393 | |||||
Average Recorded Investment, With no related allowance | [1] | 9,953 | 13,022 | 9,527 | 12,034 | |||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 233 | 271 | 456 | 481 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 41 | 140 | 83 | 281 | ||||||
Commercial business | Acquired | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 714 | 714 | 294 | |||||||
Recorded Investment, With no related allowance | 571 | 571 | 141 | |||||||
Related Allowance | (451) | (451) | (73) | |||||||
Impaired Loans, Unpaid Principal Balance | ||||||||||
Unpaid Contractual Principal Balance, With related allowance | 764 | 764 | 339 | |||||||
Unpaid Contractual Principal Balance, With no related allowance | 641 | 641 | 386 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | 744 | 506 | 594 | 526 | ||||||
Average Recorded Investment, With no related allowance | 408 | 675 | 319 | 673 | ||||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 3 | 0 | 6 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 7 | 8 | 14 | 17 | ||||||
Trade finance | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 4,035 | [1] | 4,035 | [1] | 2,111 | |||||
Recorded Investment, With no related allowance | 147 | [1] | 147 | [1] | 3,918 | |||||
Related Allowance | (3) | (3) | (864) | |||||||
Impaired Loans, Unpaid Principal Balance | ||||||||||
Unpaid Contractual Principal Balance, With related allowance | 4,035 | 4,035 | 2,156 | |||||||
Unpaid Contractual Principal Balance, With no related allowance | 147 | 147 | 3,918 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | [1] | 2,018 | 6,286 | 2,049 | 8,373 | |||||
Average Recorded Investment, With no related allowance | [1] | 2,298 | 2,225 | 2,838 | 1,484 | |||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 106 | 16 | 157 | 57 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 2 | 56 | 3 | 109 | ||||||
Trade finance | Acquired | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 0 | 0 | 0 | |||||||
Recorded Investment, With no related allowance | 0 | 0 | 0 | |||||||
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 | 0 | 0 | 0 | ||||||
Average Recorded Investment, With no related allowance | 0 | 0 | 0 | 0 | ||||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 0 | 0 | 0 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 0 | 0 | 0 | 0 | ||||||
Consumer and other | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 72 | [1] | 72 | [1] | 91 | |||||
Recorded Investment, With no related allowance | 1,235 | [1] | 1,235 | [1] | 1,073 | |||||
Related Allowance | (30) | (30) | (50) | |||||||
Impaired Loans, Unpaid Principal Balance | ||||||||||
Unpaid Contractual Principal Balance, With related allowance | 72 | 72 | 91 | |||||||
Unpaid Contractual Principal Balance, With no related allowance | 1,259 | 1,259 | 1,136 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | [1] | 77 | 408 | 82 | 317 | |||||
Average Recorded Investment, With no related allowance | [1] | 1,070 | 820 | 1,071 | 991 | |||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 1 | 10 | 2 | 17 | ||||||
Interest Income Recognized during Impairment, With no related allowance | 6 | 0 | 13 | 1 | ||||||
Consumer and other | Acquired | ||||||||||
Impaired Loans, Recorded Investment | ||||||||||
Recorded Investment, With related allowance | 0 | 0 | 0 | |||||||
Recorded Investment, With no related allowance | 610 | 610 | 431 | |||||||
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 | 624 | 624 | $ 484 | |||||||
Impaired Loans, Average Recorded Investment | ||||||||||
Average Recorded Investment, With related allowance | 0 | 80 | 0 | 53 | ||||||
Average Recorded Investment, With no related allowance | 441 | 371 | 437 | 467 | ||||||
Impaired Loans, Interest Income Recognized during Impairment | ||||||||||
Interest Income Recognized during Impairment, With related allowance | 0 | 2 | 0 | 4 | ||||||
Interest Income Recognized during Impairment, With no related allowance | $ 2 | $ 0 | $ 4 | $ 1 | ||||||
|
Loans Receivable and Allowance for Loan Losses - Past Due Financing Receivables (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
|||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | $ 26,870 | $ 18,342 | |||||||||
Total Delinquent loans | 74,231 | 58,416 | |||||||||
Guaranteed portion of delinquent SBA loans excluded from Nonaccrual loans | 15,500 | 15,900 | |||||||||
Nonaccrual loans less than 30 days past due | 47,361 | 40,074 | |||||||||
Legacy | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 19,330 | 13,278 | |||||||||
Total Delinquent loans | 56,172 | 42,222 | |||||||||
Nonaccrual loans less than 30 days past due | 36,842 | 28,944 | |||||||||
Legacy | Commercial business | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 3,164 | 1,373 | |||||||||
Total Delinquent loans | 15,278 | 10,744 | |||||||||
Nonaccrual loans less than 30 days past due | [1] | 12,114 | 9,371 | ||||||||
Legacy | Trade finance | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 92 | 500 | |||||||||
Total Delinquent loans | 92 | 2,556 | |||||||||
Nonaccrual loans less than 30 days past due | [1] | 0 | 2,056 | ||||||||
Legacy | Consumer and other | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 514 | 509 | |||||||||
Total Delinquent loans | 814 | 738 | |||||||||
Nonaccrual loans less than 30 days past due | [1] | 300 | 229 | ||||||||
Acquired | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 7,540 | [2] | 5,064 | [3] | |||||||
Total Delinquent loans | 18,059 | [3] | 16,194 | ||||||||
Nonaccrual loans less than 30 days past due | 10,519 | 11,130 | |||||||||
Acquired | Commercial business | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 1,519 | [2] | 1,987 | [3] | |||||||
Total Delinquent loans | 2,280 | [2] | 2,332 | [3] | |||||||
Nonaccrual loans less than 30 days past due | [1],[2] | 761 | 345 | ||||||||
Acquired | Trade finance | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
Total Delinquent loans | 0 | [2] | 0 | [3] | |||||||
Nonaccrual loans less than 30 days past due | [1],[2] | 0 | 0 | ||||||||
Acquired | Consumer and other | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 158 | [2] | 356 | [3] | |||||||
Total Delinquent loans | 842 | [2] | 905 | [3] | |||||||
Nonaccrual loans less than 30 days past due | [1],[2] | 684 | 549 | ||||||||
30 to 59 Days Past Due | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 12,283 | 10,268 | |||||||||
30 to 59 Days Past Due | Legacy | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 5,910 | 6,253 | |||||||||
30 to 59 Days Past Due | Legacy | Commercial business | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 919 | 558 | |||||||||
30 to 59 Days Past Due | Legacy | Trade finance | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 92 | 0 | |||||||||
30 to 59 Days Past Due | Legacy | Consumer and other | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 131 | 146 | |||||||||
30 to 59 Days Past Due | Acquired | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 6,373 | [2] | 4,015 | [3] | |||||||
30 to 59 Days Past Due | Acquired | Commercial business | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 660 | [2] | 1,303 | [3] | |||||||
30 to 59 Days Past Due | Acquired | Trade finance | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
30 to 59 Days Past Due | Acquired | Consumer and other | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 64 | [2] | 331 | [3] | |||||||
60 to 89 Days Past Due | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 12,737 | 7,769 | |||||||||
60 to 89 Days Past Due | Legacy | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 11,741 | 6,720 | |||||||||
60 to 89 Days Past Due | Legacy | Commercial business | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 2,245 | 815 | |||||||||
60 to 89 Days Past Due | Legacy | Trade finance | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 500 | |||||||||
60 to 89 Days Past Due | Legacy | Consumer and other | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 137 | 58 | |||||||||
60 to 89 Days Past Due | Acquired | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 996 | [2] | 1,049 | [3] | |||||||
60 to 89 Days Past Due | Acquired | Commercial business | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 859 | [2] | 684 | [3] | |||||||
60 to 89 Days Past Due | Acquired | Trade finance | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
60 to 89 Days Past Due | Acquired | Consumer and other | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 25 | [3] | |||||||
90 or More Days Past Due | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 1,850 | 305 | |||||||||
90 or More Days Past Due | Legacy | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 1,679 | 305 | |||||||||
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 | 246 | 305 | |||||||||
90 or More Days Past Due | Acquired | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 171 | [2] | 0 | [3] | |||||||
90 or More Days Past Due | Acquired | Commercial business | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
90 or More Days Past Due | Acquired | Trade finance | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
90 or More Days Past Due | Acquired | Consumer and other | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 94 | [2] | 0 | [3] | |||||||
Less than 30 days past due | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Nonaccrual loans less than 30 days past due | 14,700 | 18,300 | |||||||||
Residential | Legacy | Real estate | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 0 | |||||||||
Total Delinquent loans | 0 | 0 | |||||||||
Nonaccrual loans less than 30 days past due | [1] | 0 | 0 | ||||||||
Residential | Acquired | Real estate | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
Total Delinquent loans | 0 | [2] | 679 | [3] | |||||||
Nonaccrual loans less than 30 days past due | [1],[2] | 0 | 679 | ||||||||
Residential | 30 to 59 Days Past Due | Legacy | Real estate | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 0 | |||||||||
Residential | 30 to 59 Days Past Due | Acquired | Real estate | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
Residential | 60 to 89 Days Past Due | Legacy | Real estate | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 0 | |||||||||
Residential | 60 to 89 Days Past Due | Acquired | Real estate | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
Residential | 90 or More Days Past Due | Legacy | Real estate | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 0 | |||||||||
Residential | 90 or More Days Past Due | Acquired | Real estate | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
Commercial & industrial | Legacy | Real estate | Retail | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 1,012 | 480 | |||||||||
Total Delinquent loans | 4,404 | 4,152 | |||||||||
Nonaccrual loans less than 30 days past due | [1] | 3,392 | 3,672 | ||||||||
Commercial & industrial | Legacy | Real estate | Hotel & motel | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 3,678 | 4,973 | |||||||||
Total Delinquent loans | 11,983 | 6,365 | |||||||||
Nonaccrual loans less than 30 days past due | [1] | 8,305 | 1,392 | ||||||||
Commercial & industrial | Legacy | Real estate | Gas station & car wash | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 362 | |||||||||
Total Delinquent loans | 2,646 | 4,052 | |||||||||
Nonaccrual loans less than 30 days past due | [1] | 2,646 | 3,690 | ||||||||
Commercial & industrial | Legacy | Real estate | Mixed use | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 539 | 0 | |||||||||
Total Delinquent loans | 1,760 | 1,305 | |||||||||
Nonaccrual loans less than 30 days past due | [1] | 1,221 | 1,305 | ||||||||
Commercial & industrial | Legacy | Real estate | Industrial & warehouse | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 697 | |||||||||
Total Delinquent loans | 3,472 | 2,619 | |||||||||
Nonaccrual loans less than 30 days past due | [1] | 3,472 | 1,922 | ||||||||
Commercial & industrial | Legacy | Real estate | Other | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 3,331 | 2,871 | |||||||||
Total Delinquent loans | 7,423 | 6,878 | |||||||||
Nonaccrual loans less than 30 days past due | [1] | 4,092 | 4,007 | ||||||||
Commercial & industrial | Acquired | Real estate | Retail | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 137 | [2] | 1,611 | [3] | |||||||
Total Delinquent loans | 1,159 | [2] | 3,482 | [3] | |||||||
Nonaccrual loans less than 30 days past due | [1],[2] | 1,022 | 1,871 | ||||||||
Commercial & industrial | Acquired | Real estate | Hotel & motel | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 95 | [3] | |||||||
Total Delinquent loans | 5,067 | [2] | 4,596 | [3] | |||||||
Nonaccrual loans less than 30 days past due | [1],[2] | 5,067 | 4,501 | ||||||||
Commercial & industrial | Acquired | Real estate | Gas station & car wash | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 408 | [3] | |||||||
Total Delinquent loans | 460 | [2] | 1,401 | [3] | |||||||
Nonaccrual loans less than 30 days past due | [1],[2] | 460 | 993 | ||||||||
Commercial & industrial | Acquired | Real estate | Mixed use | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 30 | [2] | 0 | [3] | |||||||
Total Delinquent loans | 191 | [2] | 48 | [3] | |||||||
Nonaccrual loans less than 30 days past due | [1],[2] | 161 | 48 | ||||||||
Commercial & industrial | Acquired | Real estate | Industrial & warehouse | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 33 | [2] | 257 | [3] | |||||||
Total Delinquent loans | 536 | [2] | 257 | [3] | |||||||
Nonaccrual loans less than 30 days past due | [1],[2] | 503 | 0 | ||||||||
Commercial & industrial | Acquired | Real estate | Other | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 5,568 | [2] | 350 | [3] | |||||||
Total Delinquent loans | 7,429 | [2] | 2,494 | [3] | |||||||
Nonaccrual loans less than 30 days past due | [1],[2] | 1,861 | 2,144 | ||||||||
Commercial & industrial | 30 to 59 Days Past Due | Legacy | Real estate | Retail | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 555 | 480 | |||||||||
Commercial & industrial | 30 to 59 Days Past Due | Legacy | Real estate | Hotel & motel | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 343 | 1,836 | |||||||||
Commercial & industrial | 30 to 59 Days Past Due | Legacy | Real estate | Gas station & car wash | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 362 | |||||||||
Commercial & industrial | 30 to 59 Days Past Due | Legacy | Real estate | Mixed use | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 539 | 0 | |||||||||
Commercial & industrial | 30 to 59 Days Past Due | Legacy | Real estate | Industrial & warehouse | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 0 | |||||||||
Commercial & industrial | 30 to 59 Days Past Due | Legacy | Real estate | Other | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 3,331 | 2,871 | |||||||||
Commercial & industrial | 30 to 59 Days Past Due | Acquired | Real estate | Retail | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 1,611 | [3] | |||||||
Commercial & industrial | 30 to 59 Days Past Due | Acquired | Real estate | Hotel & motel | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 95 | [3] | |||||||
Commercial & industrial | 30 to 59 Days Past Due | Acquired | Real estate | Gas station & car wash | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 68 | [3] | |||||||
Commercial & industrial | 30 to 59 Days Past Due | Acquired | Real estate | Mixed use | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 30 | [2] | 0 | [3] | |||||||
Commercial & industrial | 30 to 59 Days Past Due | Acquired | Real estate | Industrial & warehouse | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 33 | [2] | 257 | [3] | |||||||
Commercial & industrial | 30 to 59 Days Past Due | Acquired | Real estate | Other | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 5,491 | [2] | 350 | [3] | |||||||
Commercial & industrial | 60 to 89 Days Past Due | Legacy | Real estate | Retail | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 457 | 0 | |||||||||
Commercial & industrial | 60 to 89 Days Past Due | Legacy | Real estate | Hotel & motel | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 1,902 | 3,137 | |||||||||
Commercial & industrial | 60 to 89 Days Past Due | Legacy | Real estate | Gas station & car wash | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 0 | |||||||||
Commercial & industrial | 60 to 89 Days Past Due | Legacy | Real estate | Mixed use | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 0 | |||||||||
Commercial & industrial | 60 to 89 Days Past Due | Legacy | Real estate | Industrial & warehouse | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 697 | |||||||||
Commercial & industrial | 60 to 89 Days Past Due | Legacy | Real estate | Other | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 0 | |||||||||
Commercial & industrial | 60 to 89 Days Past Due | Acquired | Real estate | Retail | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 137 | [2] | 0 | [3] | |||||||
Commercial & industrial | 60 to 89 Days Past Due | Acquired | Real estate | Hotel & motel | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
Commercial & industrial | 60 to 89 Days Past Due | Acquired | Real estate | Gas station & car wash | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 340 | [3] | |||||||
Commercial & industrial | 60 to 89 Days Past Due | Acquired | Real estate | Mixed use | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
Commercial & industrial | 60 to 89 Days Past Due | Acquired | Real estate | Industrial & warehouse | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
Commercial & industrial | 60 to 89 Days Past Due | Acquired | Real estate | Other | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
Commercial & industrial | 90 or More Days Past Due | Legacy | Real estate | Retail | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 0 | |||||||||
Commercial & industrial | 90 or More Days Past Due | Legacy | Real estate | Hotel & motel | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 1,433 | 0 | |||||||||
Commercial & industrial | 90 or More Days Past Due | Legacy | Real estate | Gas station & car wash | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 0 | |||||||||
Commercial & industrial | 90 or More Days Past Due | Legacy | Real estate | Mixed use | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 0 | |||||||||
Commercial & industrial | 90 or More Days Past Due | Legacy | Real estate | Industrial & warehouse | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 0 | |||||||||
Commercial & industrial | 90 or More Days Past Due | Legacy | Real estate | Other | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 0 | |||||||||
Commercial & industrial | 90 or More Days Past Due | Acquired | Real estate | Retail | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
Commercial & industrial | 90 or More Days Past Due | Acquired | Real estate | Hotel & motel | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
Commercial & industrial | 90 or More Days Past Due | Acquired | Real estate | Gas station & car wash | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
Commercial & industrial | 90 or More Days Past Due | Acquired | Real estate | Mixed use | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
Commercial & industrial | 90 or More Days Past Due | Acquired | Real estate | Industrial & warehouse | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
Commercial & industrial | 90 or More Days Past Due | Acquired | Real estate | Other | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 77 | [2] | 0 | [3] | |||||||
Construction | Legacy | Real estate | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 7,000 | 1,513 | |||||||||
Total Delinquent loans | 8,300 | 2,813 | |||||||||
Nonaccrual loans less than 30 days past due | [1] | 1,300 | 1,300 | ||||||||
Construction | Acquired | Real estate | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 95 | [2] | 0 | [3] | |||||||
Total Delinquent loans | 95 | [2] | 0 | [3] | |||||||
Nonaccrual loans less than 30 days past due | [1],[2] | 0 | 0 | ||||||||
Construction | 30 to 59 Days Past Due | Legacy | Real estate | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 0 | |||||||||
Construction | 30 to 59 Days Past Due | Acquired | Real estate | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 95 | [2] | 0 | [3] | |||||||
Construction | 60 to 89 Days Past Due | Legacy | Real estate | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 7,000 | 1,513 | |||||||||
Construction | 60 to 89 Days Past Due | Acquired | Real estate | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | [2] | 0 | [3] | |||||||
Construction | 90 or More Days Past Due | Legacy | Real estate | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | 0 | 0 | |||||||||
Construction | 90 or More Days Past Due | Acquired | Real estate | |||||||||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||||||||
Total Past Due | $ 0 | [2] | $ 0 | [3] | |||||||
|
Loans Receivable and Allowance for Loan Losses - Financing Receivable Credit Quality Indicators (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 10,818,344 | $ 10,544,989 |
Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 10,251,847 | 9,988,278 |
Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 251,057 | 243,656 |
Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 311,572 | 311,106 |
Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,868 | 1,949 |
Real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,432,395 | 8,154,570 |
Real estate | Residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 60,544 | 57,884 |
Real estate | Commercial & industrial | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,065,057 | 7,842,573 |
Real estate | Construction | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 306,794 | 254,113 |
Commercial business | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,744,103 | 1,832,021 |
Trade finance | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 181,400 | 154,928 |
Consumer and other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 460,446 | 403,470 |
Legacy | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 7,522,251 | 6,721,566 |
Legacy | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 7,190,573 | 6,430,967 |
Legacy | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 152,373 | 127,562 |
Legacy | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 177,097 | 162,942 |
Legacy | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,208 | 95 |
Legacy | Real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 5,876,153 | 5,345,347 |
Legacy | Real estate | Residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 42,910 | 37,389 |
Legacy | Real estate | Residential | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 39,957 | 34,283 |
Legacy | Real estate | Residential | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,497 | 223 |
Legacy | Real estate | Residential | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,456 | 2,883 |
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 | 1,512,188 | 1,337,811 |
Legacy | Real estate | Commercial & industrial | Retail | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,468,439 | 1,303,452 |
Legacy | Real estate | Commercial & industrial | Retail | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 23,024 | 18,929 |
Legacy | Real estate | Commercial & industrial | Retail | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 20,725 | 15,430 |
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 | 1,208,036 | 1,209,498 |
Legacy | Real estate | Commercial & industrial | Hotel & motel | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,185,023 | 1,187,709 |
Legacy | Real estate | Commercial & industrial | Hotel & motel | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 10,770 | 12,763 |
Legacy | Real estate | Commercial & industrial | Hotel & motel | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 12,243 | 9,026 |
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 | 693,376 | 654,231 |
Legacy | Real estate | Commercial & industrial | Gas station & car wash | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 675,710 | 643,282 |
Legacy | Real estate | Commercial & industrial | Gas station & car wash | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,422 | 7,259 |
Legacy | Real estate | Commercial & industrial | Gas station & car wash | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 6,244 | 3,690 |
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 | 402,075 | 376,779 |
Legacy | Real estate | Commercial & industrial | Mixed use | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 400,257 | 375,312 |
Legacy | Real estate | Commercial & industrial | Mixed use | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 438 | 0 |
Legacy | Real estate | Commercial & industrial | Mixed use | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,380 | 1,467 |
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 | 601,727 | 522,103 |
Legacy | Real estate | Commercial & industrial | Industrial & warehouse | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 570,413 | 478,528 |
Legacy | Real estate | Commercial & industrial | Industrial & warehouse | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 21,390 | 29,830 |
Legacy | Real estate | Commercial & industrial | Industrial & warehouse | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,924 | 13,745 |
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 | 1,186,995 | 1,032,261 |
Legacy | Real estate | Commercial & industrial | Other | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,103,423 | 969,024 |
Legacy | Real estate | Commercial & industrial | Other | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 38,537 | 22,220 |
Legacy | Real estate | Commercial & industrial | Other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 45,035 | 41,017 |
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 | 228,846 | 175,275 |
Legacy | Real estate | Construction | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 212,195 | 159,230 |
Legacy | Real estate | Construction | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 13,774 | 14,745 |
Legacy | Real estate | Construction | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,877 | 1,300 |
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 | 1,271,270 | 1,114,131 |
Legacy | Commercial business | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,165,079 | 1,032,232 |
Legacy | Commercial business | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 27,779 | 15,919 |
Legacy | Commercial business | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 76,204 | 65,885 |
Legacy | Commercial business | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,208 | 95 |
Legacy | Trade finance | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 110,103 | 81,394 |
Legacy | Trade finance | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 106,218 | 68,051 |
Legacy | Trade finance | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,738 | 5,673 |
Legacy | Trade finance | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 147 | 7,670 |
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 | 264,725 | 180,694 |
Legacy | Consumer and other | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 263,859 | 179,864 |
Legacy | Consumer and other | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4 | 1 |
Legacy | Consumer and other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 862 | 829 |
Legacy | Consumer and other | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,296,093 | 3,823,423 |
Acquired | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,061,274 | 3,557,311 |
Acquired | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 98,684 | 116,094 |
Acquired | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 134,475 | 148,164 |
Acquired | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,660 | 1,854 |
Acquired | Real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,556,242 | 2,809,223 |
Acquired | Real estate | Residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 17,634 | 20,495 |
Acquired | Real estate | Residential | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 17,368 | 18,007 |
Acquired | Real estate | Residential | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 266 | 1,809 |
Acquired | Real estate | Residential | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 679 |
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 | 725,637 | 803,435 |
Acquired | Real estate | Commercial & industrial | Retail | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 695,235 | 772,465 |
Acquired | Real estate | Commercial & industrial | Retail | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 10,389 | 9,860 |
Acquired | Real estate | Commercial & industrial | Retail | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 20,013 | 21,110 |
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 | 333,231 | 352,048 |
Acquired | Real estate | Commercial & industrial | Hotel & motel | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 302,653 | 328,396 |
Acquired | Real estate | Commercial & industrial | Hotel & motel | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 12,599 | 5,419 |
Acquired | Real estate | Commercial & industrial | Hotel & motel | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 17,979 | 18,233 |
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 | 255,336 | 269,154 |
Acquired | Real estate | Commercial & industrial | Gas station & car wash | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 237,757 | 249,379 |
Acquired | Real estate | Commercial & industrial | Gas station & car wash | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,135 | 8,437 |
Acquired | Real estate | Commercial & industrial | Gas station & car wash | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,444 | 11,338 |
Acquired | Real estate | Commercial & industrial | Gas station & car wash | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired | Real estate | Commercial & industrial | Mixed use | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 124,972 | 134,261 |
Acquired | Real estate | Commercial & industrial | Mixed use | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 108,020 | 118,643 |
Acquired | Real estate | Commercial & industrial | Mixed use | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 5,942 | 3,105 |
Acquired | Real estate | Commercial & industrial | Mixed use | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,002 | 12,505 |
Acquired | Real estate | Commercial & industrial | Mixed use | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8 | 8 |
Acquired | Real estate | Commercial & industrial | Industrial & warehouse | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 323,614 | 362,222 |
Acquired | Real estate | Commercial & industrial | Industrial & warehouse | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 293,708 | 321,040 |
Acquired | Real estate | Commercial & industrial | Industrial & warehouse | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 13,475 | 31,819 |
Acquired | Real estate | Commercial & industrial | Industrial & warehouse | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 16,158 | 9,048 |
Acquired | Real estate | Commercial & industrial | Industrial & warehouse | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 273 | 315 |
Acquired | Real estate | Commercial & industrial | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 697,870 | 788,770 |
Acquired | Real estate | Commercial & industrial | Other | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 639,150 | 736,385 |
Acquired | Real estate | Commercial & industrial | Other | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 38,599 | 23,286 |
Acquired | Real estate | Commercial & industrial | Other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 20,121 | 29,099 |
Acquired | Real estate | Commercial & industrial | Other | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Acquired | Real estate | Construction | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 77,948 | 78,838 |
Acquired | Real estate | Construction | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 77,948 | 78,838 |
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 | 472,833 | 717,890 |
Acquired | Commercial business | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 432,487 | 649,186 |
Acquired | Commercial business | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,592 | 31,340 |
Acquired | Commercial business | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 31,302 | 37,265 |
Acquired | Commercial business | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 452 | 99 |
Acquired | Trade finance | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 71,297 | 73,534 |
Acquired | Trade finance | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 68,108 | 70,535 |
Acquired | Trade finance | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 61 |
Acquired | Trade finance | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,189 | 2,938 |
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 | 195,721 | 222,776 |
Acquired | Consumer and other | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 188,840 | 214,437 |
Acquired | Consumer and other | Special Mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 687 | 958 |
Acquired | Consumer and other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 5,267 | 5,949 |
Acquired | Consumer and other | Doubtful or Loss | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 927 | $ 1,432 |
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, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Sale or reclassification to held for sale | $ 5,139 | $ 0 | $ 14,590 | $ 400 |
Commercial & industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Sale or reclassification to held for sale | 2,671 | 0 | 11,370 | 0 |
Commercial Business | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Sale or reclassification to held for sale | 2,243 | 0 | 2,995 | 0 |
Consumer and other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Sale or reclassification to held for sale | $ 225 | $ 0 | $ 225 | $ 400 |
Loans Receivable and Allowance for Loan Losses - Allowance for Loans, by Portfolio Segment and Impairment Method (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
---|---|---|---|---|---|---|
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (gross carrying value) | $ 100,663 | $ 140,361 | ||||
Specific allowance | $ 8,950 | $ 7,409 | ||||
Loss coverage ratio | 8.89% | 5.28% | ||||
Non-impaired loans | $ 10,717,681 | $ 10,404,628 | ||||
General allowance | $ 71,124 | $ 71,934 | ||||
Loss coverage ratio | 0.66% | 0.69% | ||||
Total loans outstanding | $ 10,818,344 | $ 10,544,989 | ||||
Allowance for loan losses - Total | $ 80,074 | $ 78,659 | $ 79,343 | $ 76,425 | $ 76,856 | $ 76,408 |
Loss coverage ratio | 0.74% | 0.75% | ||||
Real estate | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans outstanding | $ 8,432,395 | $ 8,154,570 | ||||
Real estate | Residential | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (gross carrying value) | 0 | 3,562 | ||||
Specific allowance | 0 | 0 | ||||
Non-impaired loans | 60,544 | 54,322 | ||||
General allowance | $ 171 | $ 209 | ||||
Loss coverage ratio | 0.28% | 0.38% | ||||
Total loans outstanding | $ 60,544 | $ 57,884 | ||||
Allowance for loan losses - Total | $ 171 | $ 209 | ||||
Loss coverage ratio | 0.28% | 0.36% | ||||
Real estate | Commercial & industrial | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (gross carrying value) | $ 57,102 | $ 93,088 | ||||
Specific allowance | $ 2,163 | $ 2,002 | ||||
Loss coverage ratio | 3.79% | 2.15% | ||||
Non-impaired loans | $ 8,007,955 | $ 7,749,485 | ||||
General allowance | $ 49,739 | $ 47,915 | ||||
Loss coverage ratio | 0.62% | 0.62% | ||||
Total loans outstanding | $ 8,065,057 | $ 7,842,573 | ||||
Allowance for loan losses - Total | $ 51,902 | $ 49,917 | ||||
Loss coverage ratio | 0.64% | 0.64% | ||||
Real estate | Construction | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (gross carrying value) | $ 1,300 | $ 1,300 | ||||
Specific allowance | 0 | 0 | ||||
Non-impaired loans | 305,494 | 252,813 | ||||
General allowance | $ 1,816 | $ 1,621 | ||||
Loss coverage ratio | 0.59% | 0.64% | ||||
Total loans outstanding | $ 306,794 | $ 254,113 | ||||
Allowance for loan losses - Total | $ 1,816 | $ 1,621 | ||||
Loss coverage ratio | 0.59% | 0.64% | ||||
Commercial business | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (gross carrying value) | $ 36,772 | $ 35,218 | ||||
Specific allowance | $ 6,754 | $ 4,493 | ||||
Loss coverage ratio | 18.37% | 12.76% | ||||
Non-impaired loans | $ 1,707,331 | $ 1,796,803 | ||||
General allowance | $ 16,032 | $ 19,054 | ||||
Loss coverage ratio | 0.94% | 1.06% | ||||
Total loans outstanding | $ 1,744,103 | $ 1,832,021 | ||||
Allowance for loan losses - Total | $ 22,786 | $ 23,547 | ||||
Loss coverage ratio | 1.31% | 1.29% | ||||
Trade finance | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (gross carrying value) | $ 4,182 | $ 6,029 | ||||
Specific allowance | $ 3 | $ 864 | ||||
Loss coverage ratio | 0.07% | 14.33% | ||||
Non-impaired loans | $ 177,218 | $ 148,899 | ||||
General allowance | $ 1,103 | $ 1,033 | ||||
Loss coverage ratio | 0.62% | 0.69% | ||||
Total loans outstanding | $ 181,400 | $ 154,928 | ||||
Allowance for loan losses - Total | $ 1,106 | $ 1,897 | ||||
Loss coverage ratio | 0.61% | 1.22% | ||||
Consumer and other | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Impaired loans (gross carrying value) | $ 1,307 | $ 1,164 | ||||
Specific allowance | $ 30 | $ 50 | ||||
Loss coverage ratio | 2.30% | 4.30% | ||||
Non-impaired loans | $ 459,139 | $ 402,306 | ||||
General allowance | $ 2,263 | $ 2,102 | ||||
Loss coverage ratio | 0.49% | 0.52% | ||||
Total loans outstanding | $ 460,446 | $ 403,470 | ||||
Allowance for loan losses - Total | $ 2,293 | $ 2,152 | ||||
Loss coverage ratio | 0.50% | 0.53% | ||||
Acquired | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Specific allowance | $ 707 | $ 186 | ||||
Total loans outstanding | 3,296,093 | 3,823,423 | ||||
Acquired | Real estate | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Total loans outstanding | 2,556,242 | 2,809,223 | ||||
Allowance for loan losses - Total | 13,411 | 13,455 | 12,791 | 12,607 | 12,626 | 12,823 |
Acquired | Real estate | Residential | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Specific allowance | 0 | 0 | ||||
Total loans outstanding | 17,634 | 20,495 | ||||
Acquired | Real estate | Construction | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Specific allowance | 0 | 0 | ||||
Total loans outstanding | 77,948 | 78,838 | ||||
Acquired | Commercial business | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Specific allowance | 451 | 73 | ||||
Total loans outstanding | 472,833 | 717,890 | ||||
Allowance for loan losses - Total | 1,291 | 944 | 117 | 148 | 154 | 214 |
Acquired | Trade finance | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Specific allowance | 0 | 0 | ||||
Total loans outstanding | 71,297 | 73,534 | ||||
Allowance for loan losses - Total | 106 | 187 | 0 | 0 | 0 | 0 |
Acquired | Consumer and other | ||||||
Loans by Portfolio Segment and Impairment Method [Abstract] | ||||||
Specific allowance | 0 | 0 | ||||
Total loans outstanding | 195,721 | 222,776 | ||||
Allowance for loan losses - Total | $ 11 | $ 19 | $ 36 | $ 53 | $ 60 | $ 62 |
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, 2017
USD ($)
loan
|
Jun. 30, 2016
USD ($)
loan
|
Jun. 30, 2017
USD ($)
loan
|
Jun. 30, 2016
USD ($)
loan
|
Dec. 31, 2016
USD ($)
loan
|
|
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | $ 69,010,000 | $ 69,010,000 | $ 70,870,000 | ||
Number of modified contracts | loan | 5 | 3 | 10 | 11 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 5,981,000 | $ 113,000 | $ 8,403,000 | $ 13,430,000 | |
Post-Modification | $ 5,929,000 | $ 225,000 | $ 7,743,000 | $ 9,351,000 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 4 | 11 | 4 | 11 | |
Balance | $ 1,652,000 | $ 8,612,000 | $ 1,652,000 | $ 8,612,000 | |
Specific reserves | 1,100,000 | 69,000 | 1,100,000 | ||
Specific reserves for the TDRs | 181,000 | 2,500,000 | 2,514 | ||
Charge offs | 0 | $ 30,000 | 131,000 | $ 30,000 | |
Specific reserves allocated to TDRs | 5,600,000 | 5,600,000 | 5,300,000 | ||
Payment concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 19,407,000 | 19,407,000 | 22,521,000 | ||
Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 36,995,000 | 36,995,000 | 33,641,000 | ||
Rate concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 12,608,000 | 12,608,000 | 14,708,000 | ||
TDR on accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 53,290,000 | 53,290,000 | 48,874,000 | ||
TDR on accrual | Payment concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 16,300,000 | 16,300,000 | 16,387,000 | ||
TDR on accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 30,146,000 | 30,146,000 | 23,911,000 | ||
TDR on accrual | Rate concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 6,844,000 | 6,844,000 | 8,576,000 | ||
TDR on non-accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 15,720,000 | 15,720,000 | 21,996,000 | ||
TDR on non-accrual | Payment concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 3,107,000 | 3,107,000 | 6,134,000 | ||
TDR on non-accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 6,849,000 | 6,849,000 | 9,730,000 | ||
TDR on non-accrual | Rate concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 5,764,000 | $ 5,764,000 | 6,132,000 | ||
Commercial & industrial | TDR on accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | $ 25,100,000 | ||||
Number of modified contracts | loan | 20 | 20 | |||
Real estate | Commercial & industrial | TDR on accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 24,570,000 | $ 24,570,000 | $ 25,054,000 | ||
Real estate | Commercial & industrial | TDR on accrual | Payment concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 16,099,000 | 16,099,000 | 16,358,000 | ||
Real estate | Commercial & industrial | TDR on accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 2,925,000 | 2,925,000 | 1,840,000 | ||
Real estate | Commercial & industrial | TDR on accrual | Rate concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 5,546,000 | 5,546,000 | 6,856,000 | ||
Real estate | Commercial & industrial | TDR on non-accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 8,944,000 | 8,944,000 | 11,320,000 | ||
Real estate | Commercial & industrial | TDR on non-accrual | Payment concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 1,858,000 | 1,858,000 | 4,417,000 | ||
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 | 1,691,000 | 1,691,000 | 1,313,000 | ||
Real estate | Commercial & industrial | TDR on non-accrual | Rate concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 5,395,000 | 5,395,000 | 5,590,000 | ||
Commercial business | TDR on accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 23,898,000 | $ 23,898,000 | $ 19,165,000 | ||
Number of modified contracts | loan | 20 | 23 | |||
Commercial business | TDR on accrual | Payment concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 201,000 | $ 201,000 | $ 29,000 | ||
Commercial business | TDR on accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 22,545,000 | 22,545,000 | 17,471,000 | ||
Commercial business | TDR on accrual | Rate concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 1,152,000 | 1,152,000 | 1,665,000 | ||
Commercial business | TDR on non-accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 6,452,000 | 6,452,000 | 8,234,000 | ||
Commercial business | TDR on non-accrual | Payment concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 1,249,000 | 1,249,000 | 1,717,000 | ||
Commercial business | TDR on non-accrual | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 4,834,000 | 4,834,000 | 6,130,000 | ||
Commercial business | TDR on non-accrual | Rate concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 369,000 | 369,000 | 387,000 | ||
Trade Finance and Other | TDR on accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 4,822,000 | 4,822,000 | 4,655,000 | ||
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 | 4,676,000 | 4,676,000 | 4,600,000 | ||
Trade Finance and Other | TDR on accrual | Rate concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 146,000 | 146,000 | 55,000 | ||
Trade Finance and Other | TDR on non-accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 324,000 | 324,000 | 2,442,000 | ||
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 | 324,000 | 324,000 | 2,287,000 | ||
Trade Finance and Other | TDR on non-accrual | Rate concession | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | 0 | 0 | 155,000 | ||
Consumer and other | TDR on accrual | |||||
Financing Receivable, Modifications [Line Items] | |||||
Troubled debt restructured | $ 4,800,000 | $ 4,800,000 | $ 4,700,000 | ||
Number of modified contracts | loan | 28 | 19 | |||
Legacy | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 4 | 3 | 6 | 10 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 5,853,000 | $ 113,000 | $ 7,533,000 | $ 13,400,000 | |
Post-Modification | $ 5,804,000 | $ 225,000 | $ 7,020,000 | $ 9,324,000 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 3 | 10 | 3 | 10 | |
Balance | $ 1,642,000 | $ 8,585,000 | $ 1,642,000 | $ 8,585,000 | |
Legacy | Real estate | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Legacy | Real estate | Payment concession | |||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Balance | $ 796,000 | ||||
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 | $ 489,000 | ||||
Legacy | Real estate | Retail | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 1 | 0 | 1 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 660,000 | $ 0 | $ 660,000 | $ 0 | |
Post-Modification | $ 641,000 | $ 0 | $ 641,000 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 1 | 0 | 1 | |
Balance | $ 0 | $ 489,000 | $ 0 | $ 489,000 | |
Legacy | Real estate | Hotel & motel | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Legacy | Real estate | Gas station & car wash | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Legacy | Real estate | Mixed use | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Legacy | Real estate | Industrial & warehouse | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Legacy | Real estate | Other | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 1 | 0 | 1 | 0 | |
Balance | $ 796,000 | $ 0 | $ 796,000 | $ 0 | |
Legacy | Commercial business | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 3 | 2 | 5 | 8 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 5,193,000 | $ 113,000 | $ 6,873,000 | $ 11,201,000 | |
Post-Modification | $ 5,163,000 | $ 114,000 | $ 6,379,000 | $ 7,755,000 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 2 | 8 | 2 | 8 | |
Balance | $ 846,000 | $ 5,210,000 | $ 846,000 | $ 5,210,000 | |
Legacy | Commercial business | Payment concession | |||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 1 | 4 | |||
Balance | $ 496,000 | ||||
Legacy | Commercial business | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member] | |||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 2 | 4 | |||
Balance | $ 846,000 | $ 4,700,000 | |||
Legacy | Trade finance | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 1 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 2,199,000 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 1,458,000 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 1 | 0 | 1 | |
Balance | $ 0 | $ 2,886,000 | $ 0 | $ 2,886,000 | |
Legacy | Trade finance | 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 | $ 2,900,000 | ||||
Legacy | Consumer And Other Portfolio Segment [Member] | |||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Legacy | Consumer and other | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 1 | 0 | 1 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 111,000 | $ 0 | $ 111,000 | |
Acquired | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 1 | 0 | 4 | 1 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 128,000 | $ 0 | $ 870,000 | $ 30,000 | |
Post-Modification | $ 125,000 | $ 0 | $ 723,000 | $ 27,000 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 1 | 1 | 1 | 1 | |
Balance | $ 10,000 | $ 27,000 | $ 10,000 | $ 27,000 | |
Charge offs | $ 0 | $ 0 | $ 131,000 | ||
Acquired | Real estate | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Acquired | Real estate | Retail | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 1 | 0 | 2 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 128,000 | $ 0 | $ 221,000 | $ 0 | |
Post-Modification | $ 125,000 | $ 0 | $ 220,000 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Acquired | Real estate | Hotel & motel | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Acquired | Real estate | Gas station & car wash | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Acquired | Real estate | Mixed use | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Acquired | Real estate | Industrial & warehouse | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Acquired | Real estate | Other | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Acquired | Commercial business | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 2 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 649,000 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 503,000 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 1 | 0 | 1 | 0 | |
Balance | $ 10,000 | $ 0 | $ 10,000 | $ 0 | |
Acquired | Commercial business | Payment concession | |||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 1 | ||||
Balance | $ 10,000 | ||||
Acquired | Commercial business | 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 | ||||
Acquired | Trade finance | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 0 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 0 | |
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 0 | 0 | 0 | |
Balance | $ 0 | $ 0 | $ 0 | $ 0 | |
Acquired | Consumer And Other Portfolio Segment [Member] | |||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Number of Loans | loan | 0 | 1 | 0 | 1 | |
Balance | $ 0 | $ 27,000 | $ 0 | $ 27,000 | |
Acquired | Consumer And Other Portfolio Segment [Member] | Troubled Debt Restructuring Concession, Type, Maturity/ Amortization Concession [Member] | |||||
Troubled Debt Restructuring, By Loan Class, Modified And Subsequent Payment Default | |||||
Balance | $ 27,000 | ||||
Acquired | Consumer and other | |||||
Financing Receivable, Modifications [Line Items] | |||||
Number of modified contracts | loan | 0 | 0 | 0 | 1 | |
Troubled Debt Restructuring, By Loan Class | |||||
Pre-Modification | $ 0 | $ 0 | $ 0 | $ 30,000 | |
Post-Modification | $ 0 | $ 0 | $ 0 | $ 27,000 |
Loans Receivable and Allowance for Loan Losses - Additional Information (Details) - USD ($) |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
|
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Financing Receivables, Impaired, Troubled Debt Restructuring, Related Allowance Loans Modified During Period | $ 181,000 | $ 2,500,000 | $ 2,514 | ||
Positive or negative qualitative adjustment of the Loss Migration Ratio | 0.50% | 0.50% | |||
Provision for loan losses | $ 2,760,000 | 1,200,000 | $ 8,360,000 | 1,700,000 | |
Commitment to lend | 3,600,000 | 3,600,000 | $ 3,200,000 | ||
Recognized provision for credit losses related to unfunded commitments | 201,000 | 109,000 | 442,000 | (461,000) | |
Charge offs | 0 | 30,000 | 131,000 | $ 30,000 | |
Acquired | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Provision for PCI loan losses | 70,000 | 64,000 | |||
Provision for loan losses | 215,000 | 2,100,000 | |||
Charge offs | $ 0 | $ 0 | $ 131,000 |
Deposits (Details) - USD ($) $ in Millions |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Deposits Disclosure [Line Items] | ||
Time Deposits, $250,000 or More | $ 1,580.0 | $ 1,550.0 |
California State Treasurer | ||
Deposits Disclosure [Line Items] | ||
Time Deposits, $250,000 or More | 300.0 | |
Available-for-sale Securities Pledged as Collateral | 342.3 | 371.6 |
Interest-bearing Domestic Deposit, Brokered | $ 814.7 | $ 724.7 |
Borrowings - Maturities of FHLB Borrowings (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Extinguishment of Debt [Line Items] | ||
Total | $ 793,400 | $ 754,300 |
Contractual Maturities | ||
Extinguishment of Debt [Line Items] | ||
Due within one year | 280,004 | |
Due after one year through five years | 513,399 | |
Total | 793,403 | |
Maturity/Put Date | ||
Extinguishment of Debt [Line Items] | ||
Due within one year | 280,004 | |
Due after one year through five years | 513,399 | |
Total | $ 793,403 |
Borrowings - Narrative (Details) - USD ($) |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Debt Instrument [Line Items] | ||
Percent of assets | 25.00% | |
Maximum borrowing capacity | $ 3,240,000,000 | $ 3,380,000,000 |
Percent outstanding advances | 100.00% | |
Advances from FHLB | $ 793,400,000 | 754,300,000 |
Unused funds | $ 2,440,000,000 | |
Percent of qualifying assets | 95.00% | |
Putable | ||
Debt Instrument [Line Items] | ||
Advances from FHLB | $ 20,000,000 | $ 20,200,000 |
Weighted Average | ||
Debt Instrument [Line Items] | ||
FHLB advances, interest rate | 1.34% | 1.22% |
Minimum | ||
Debt Instrument [Line Items] | ||
FHLB advances, interest rate | 0.84% | |
Maximum | ||
Debt Instrument [Line Items] | ||
FHLB advances, interest rate | 2.02% | |
Mortgage Loans on Real Estate | ||
Debt Instrument [Line Items] | ||
Pledged as collateral | $ 4,740,000,000 | $ 5,530,000,000 |
Qualifying Loans | ||
Debt Instrument [Line Items] | ||
Asset balance used to determine maximum borrowing capacity from federal reserve bank | 680,300,000 | |
Securities Investment | ||
Debt Instrument [Line Items] | ||
Asset balance used to determine maximum borrowing capacity from federal reserve bank | 5,700,000 | |
Amount outstanding | $ 0 | $ 0 |
Subordinated Debentures - Summary of Trust Preferred Securities and Debentures (Details) - USD ($) |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Subordinated Borrowing [Line Items] | ||
Carrying Value of Subordinated Debentures Amount | $ 100,328,000 | $ 99,808,000 |
Trust Preferred Security Amount | 126,000,000 | |
Other assets | ||
Subordinated Borrowing [Line Items] | ||
Investment in common trust securities | 3,900,000 | $ 3,900,000 |
Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | 126,000,000 | |
Subordinated Debentures Amount | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Subordinated Debentures Amount | $ 100,328,000 | |
Nara Capital Trust III | ||
Subordinated Borrowing [Line Items] | ||
Initial Rate | 4.40% | |
Nara Capital Trust III | Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 5,000,000 | |
Nara Capital Trust III | Subordinated Debentures Amount | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Subordinated Debentures Amount | $ 5,155,000 | |
Nara Statutory Trust IV | ||
Subordinated Borrowing [Line Items] | ||
Initial Rate | 4.01% | |
Nara Statutory Trust IV | Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 5,000,000 | |
Nara Statutory Trust IV | Subordinated Debentures Amount | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Subordinated Debentures Amount | $ 5,155,000 | |
Nara Statutory Trust V | ||
Subordinated Borrowing [Line Items] | ||
Initial Rate | 4.22% | |
Nara Statutory Trust V | Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 10,000,000 | |
Nara Statutory Trust V | Subordinated Debentures Amount | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Subordinated Debentures Amount | $ 10,310,000 | |
Nara Statutory Trust VI | ||
Subordinated Borrowing [Line Items] | ||
Initial Rate | 2.90% | |
Nara Statutory Trust VI | Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 8,000,000 | |
Nara Statutory Trust VI | Subordinated Debentures Amount | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Subordinated Debentures Amount | $ 8,248,000 | |
Center Capital Trust I | ||
Subordinated Borrowing [Line Items] | ||
Initial Rate | 4.01% | |
Center Capital Trust I | Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 18,000,000 | |
Center Capital Trust I | Subordinated Debentures Amount | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Subordinated Debentures Amount | $ 13,731,000 | |
Wilshire Statutory Trust III [Member] | ||
Subordinated Borrowing [Line Items] | ||
Initial Rate | 3.06% | |
Wilshire Statutory Trust III [Member] | Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 20,000,000 | |
Wilshire Statutory Trust III [Member] | Subordinated Debentures Amount | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Subordinated Debentures Amount | $ 15,210,000 | |
Wilshire Statutory Trust III [Member] | ||
Subordinated Borrowing [Line Items] | ||
Initial Rate | 2.65% | |
Wilshire Statutory Trust III [Member] | Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 15,000,000 | |
Wilshire Statutory Trust III [Member] | Subordinated Debentures Amount | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Subordinated Debentures Amount | $ 10,679,000 | |
Wilshire Statutory Trust IV [Member] | ||
Subordinated Borrowing [Line Items] | ||
Initial Rate | 2.63% | |
Wilshire Statutory Trust IV [Member] | Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 25,000,000 | |
Wilshire Statutory Trust IV [Member] | Subordinated Debentures Amount | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Subordinated Debentures Amount | $ 17,343,000 | |
Saehan Capital Trust I [Member] | ||
Subordinated Borrowing [Line Items] | ||
Initial Rate | 2.92% | |
Saehan Capital Trust I [Member] | Trust Preferred Security Amount | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 20,000,000 | |
Saehan Capital Trust I [Member] | Subordinated Debentures Amount | ||
Subordinated Borrowing [Line Items] | ||
Carrying Value of Subordinated Debentures Amount | $ 14,497,000 |
Subordinated Debentures - Narrative (Details) - USD ($) |
6 Months Ended | |
---|---|---|
Jun. 30, 2017 |
Dec. 31, 2016 |
|
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 126,000,000 | |
Right to defer consecutive payments of interest, maximum term | 5 years | |
Other assets | ||
Subordinated Borrowing [Line Items] | ||
Investment in common trust securities | $ 3,900,000 | $ 3,900,000 |
Trust Preferred Securities Subject to Mandatory Redemption | ||
Subordinated Borrowing [Line Items] | ||
Trust Preferred Security Amount | $ 126,000,000 | |
Percent included in tier one capital, maximum | 25.00% | |
Excess of percent threshold included in tier two capital | 25.00% |
Derivative Financial Instruments (Details) - USD ($) $ in Thousands |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2017 |
Dec. 31, 2016 |
|
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative Liability, Notional Amount | $ 274,049 | $ 223,098 |
Derivative, Average Remaining Maturity | 7 years 7 months 30 days | 7 years 5 months |
Interest Rate Lock Commitments [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | $ 24,533 | $ 23,749 |
Derivative Asset, Notional Amount | 4,207 | 11,168 |
Derivative Liability, Notional Amount | 2,732 | 1,810 |
Interest Rate Swap [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative Asset, Notional Amount | $ 274,049 | $ 223,098 |
Individual Counterparty [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Fixed Interest Rate | 4.34% | 4.29% |
Derivative, Variable Interest Rate | 3.44% | 3.06% |
Derivative, Fair Value, Net | $ (216) | $ (1,565) |
Corporation [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Fixed Interest Rate | 4.34% | 4.29% |
Derivative, Variable Interest Rate | 3.44% | 3.06% |
Derivative, Fair Value, Net | $ 216 | $ 1,565 |
Short [Member] | Forward Contracts [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 6,939 | 12,978 |
Derivative Asset, Notional Amount | 6,143 | 3,223 |
Derivative Liability, Notional Amount | $ 796 | $ 9,755 |
Derivative Financial Instruments - Summary of Derivative Notional Amounts and Fair Values (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Derivative [Line Items] | ||
Derivative Liability, Notional Amount | $ 274,049 | $ 223,098 |
Interest Rate Lock Commitments [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 24,533 | 23,749 |
Derivative Asset, Notional Amount | 4,207 | 11,168 |
Derivative Asset, Fair Value | 31 | 130 |
Derivative Liability, Notional Amount | 2,732 | 1,810 |
Derivative Liability, Fair Value | (7) | (3) |
Forward Contracts [Member] | Short [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 6,939 | 12,978 |
Derivative Asset, Notional Amount | 6,143 | 3,223 |
Derivative Asset, Fair Value | 19 | 17 |
Derivative Liability, Notional Amount | 796 | 9,755 |
Derivative Liability, Fair Value | $ (2) | $ (38) |
Commitments and contingencies (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Supply Commitment [Line Items] | ||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 52,124 | $ 51,059 |
Loss Contingency Accrual | 472 | 557 |
Interest Rate Lock Commitments [Member] | ||
Supply Commitment [Line Items] | ||
Derivative, Notional Amount | 24,533 | 23,749 |
Short [Member] | Forward Contracts [Member] | ||
Supply Commitment [Line Items] | ||
Derivative, Notional Amount | 6,939 | 12,978 |
Commitments to Extend Credit [Member] | ||
Supply Commitment [Line Items] | ||
Supply Commitment, Remaining Minimum Amount Committed | 1,567,393 | 1,592,221 |
Standby Letters of Credit [Member] | ||
Supply Commitment [Line Items] | ||
Supply Commitment, Remaining Minimum Amount Committed | 75,941 | 63,753 |
Letter of Credit [Member] | ||
Supply Commitment [Line Items] | ||
Supply Commitment, Remaining Minimum Amount Committed | 67,202 | 52,125 |
Low Income Housing Tax Credit [Member] | ||
Supply Commitment [Line Items] | ||
Supply Commitment, Remaining Minimum Amount Committed | $ 43,929 | $ 24,409 |
Goodwill, Intangible Assets, and Servicing Assets - Intangible Assets (Details) - USD ($) |
3 Months Ended | 6 Months Ended | |||||
---|---|---|---|---|---|---|---|
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2016 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
Jul. 29, 2016 |
|
Finite-Lived Intangible Assets [Line Items] | |||||||
Goodwill | $ 464,450,000 | $ 462,997,000 | $ 464,450,000 | ||||
Goodwill impairment | 0 | 0 | |||||
Gross Carrying Amount | 25,604,000 | 25,604,000 | |||||
Accumulated Amortization | (7,730,000) | (7,730,000) | |||||
Core Deposits | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Amortization expense related to core deposit intangible qssets | 676,000 | $ 212,000 | $ 1,400,000 | $ 425,000 | |||
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 | (3,825,000) | $ (3,825,000) | |||||
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 | (500,000) | $ (500,000) | |||||
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 | (1,490,000) | (1,490,000) | |||||
Wilshire Bancorp, Inc | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Goodwill | 359,000,000 | $ 359,000,000 | $ 359,050,000 | ||||
Goodwill, acquired during period | 359,000,000 | ||||||
Goodwill, Purchase Accounting Adjustments | 475,000 | $ (978,000) | (1,400,000) | ||||
Goodwill, Period Increase (Decrease) | $ 978,000 | $ (1,400,000) | |||||
Wilshire Bancorp, Inc | Core Deposits | |||||||
Finite-Lived Intangible Assets [Line Items] | |||||||
Amortization period | 10 years | ||||||
Gross Carrying Amount | 18,138,000 | $ 18,138,000 | |||||
Accumulated Amortization | $ (1,915,000) | $ (1,915,000) |
Goodwill, Intangible Assets, and Servicing Assets - Servicing Assets (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | 12 Months Ended | ||
---|---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
|
Servicing Asset at Amortized Cost, Balance [Roll Forward] | |||||
Balance at beginning of period | $ 25,941 | $ 11,856 | $ 26,457 | $ 12,000 | $ 12,000 |
Additions through originations of servicing assets | 1,316 | 1,309 | 2,612 | 2,087 | |
Amortization | (1,919) | (972) | (3,731) | (1,894) | |
Balance at end of period | 25,338 | $ 12,193 | $ 25,338 | $ 12,193 | $ 26,457 |
SBA Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 10.13% | 9.85% | |||
SBA Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 8.20% | 8.05% | |||
Mortgage Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 9.63% | 7.25% | |||
Mortgage Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 9.13% | 13.77% | |||
Servicing Liability at Amortized Cost, Balance | $ 1,500,000 | $ 1,500,000 | $ 1,550,000 |
Income Taxes Narrative (Details) - USD ($) |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
Dec. 31, 2016 |
|
Income Tax Examination [Line Items] | |||||
Income tax provision | $ 25,451,000 | $ 16,833,000 | $ 48,450,000 | $ 33,043,000 | |
Pretax income | $ 66,138,000 | $ 40,223,000 | $ 125,347,000 | $ 80,056,000 | |
Effective income tax rate | 38.48% | 41.85% | 38.65% | 41.28% | |
Unrecognized tax benefits | $ 2,100,000 | $ 2,100,000 | $ 2,200,000 | ||
Interest accrued | 319,000 | 319,000 | 306,000 | ||
Penalties accrued | 0 | 0 | $ 0 | ||
Decrease in unrecognized tax benefits is reasonably possible | 1,000,000 | 1,000,000 | |||
Series of Individually Immaterial Business Acquisitions [Member] | |||||
Income Tax Examination [Line Items] | |||||
Interest accrued | $ 67,000 | $ 67,000 |
Income Taxes Effective Income Tax Reconciliation (Details) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Income Tax Disclosure [Abstract] | ||||
Statutory tax rate | 35.00% | 35.00% | 35.00% | 35.00% |
State taxes-net of federal tax effect | 7.16% | 7.27% | 7.16% | 7.27% |
Affordable housing partnership investment tax credit | (3.15%) | (1.30%) | (3.15%) | (1.30%) |
Bank owned life insurance | (0.16%) | (0.24%) | (0.16%) | (0.24%) |
Municipal securities | (0.25%) | (0.21%) | (0.25%) | (0.21%) |
Nondeductible transaction costs | 0.08% | 0.52% | 0.08% | 0.52% |
Other | (0.20%) | 0.81% | (0.03%) | 0.24% |
Effective income tax rate | 38.48% | 41.85% | 38.65% | 41.28% |
Fair Value Measurements - Assets and Liabilities Measured at Fair Value, Recurring (Details) - USD ($) |
3 Months Ended | 6 Months Ended | |
---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2017 |
Dec. 31, 2016 |
|
Assets: | |||
Securities available for sale, at fair value | $ 1,680,382,000 | $ 1,680,382,000 | $ 1,556,740,000 |
Reclassification adjustments for gains realized in income | 0 | 0 | |
Collateralized mortgage obligations (residential) | |||
Assets: | |||
Securities available for sale, at fair value | 783,594,000 | 783,594,000 | 705,667,000 |
Mortgage-backed securities (residential) | |||
Assets: | |||
Securities available for sale, at fair value | 771,543,000 | 771,543,000 | 728,041,000 |
Municipal securities | |||
Assets: | |||
Securities available for sale, at fair value | 97,512,000 | 97,512,000 | 86,839,000 |
Mutual funds | |||
Assets: | |||
Securities available for sale, at fair value | 13,132,000 | 13,132,000 | 13,058,000 |
Recurring basis | Debt securities | |||
Assets: | |||
Securities available for sale, at fair value | 9,995,000 | 9,995,000 | 12,008,000 |
Recurring basis | Collateralized mortgage obligations (residential) | |||
Assets: | |||
Securities available for sale, at fair value | 783,594,000 | 783,594,000 | 705,667,000 |
Recurring basis | Mortgage-backed securities (residential) | |||
Assets: | |||
Securities available for sale, at fair value | 771,543,000 | 771,543,000 | 728,041,000 |
Recurring basis | Trust preferred securities | |||
Assets: | |||
Securities available for sale, at fair value | 4,606,000 | 4,606,000 | 11,127,000 |
Recurring basis | Municipal securities | |||
Assets: | |||
Securities available for sale, at fair value | 97,512,000 | 97,512,000 | 86,839,000 |
Recurring basis | Mutual funds | |||
Assets: | |||
Securities available for sale, at fair value | 13,132,000 | 13,132,000 | 13,058,000 |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | |||
Assets: | |||
Derivative Asset | 0 | 0 | 0 |
Mortgage Banking Derivative Assets, at Fair Value | 0 | 0 | 0 |
Mortgage Banking Derivative Liabilities, at Fair Value | 0 | 0 | 0 |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Debt securities | |||
Assets: | |||
Securities available for sale, at fair value | 0 | 0 | 0 |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Collateralized mortgage obligations (residential) | |||
Assets: | |||
Securities available for sale, at fair value | 0 | 0 | 0 |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-backed securities (residential) | |||
Assets: | |||
Securities available for sale, at fair value | 0 | 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 | 0 |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Municipal securities | |||
Assets: | |||
Securities available for sale, at fair value | 0 | 0 | 0 |
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mutual funds | |||
Assets: | |||
Securities available for sale, at fair value | 13,132,000 | 13,132,000 | 13,058,000 |
Recurring basis | Significant Other Observable Inputs (Level 2) | |||
Assets: | |||
Derivative Asset | (216,000) | (216,000) | (1,565,000) |
Mortgage Banking Derivative Assets, at Fair Value | 50,000 | 50,000 | 147,000 |
Mortgage Banking Derivative Liabilities, at Fair Value | 9,000 | 9,000 | 41,000 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Debt securities | |||
Assets: | |||
Securities available for sale, at fair value | 9,995,000 | 9,995,000 | 12,008,000 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Collateralized mortgage obligations (residential) | |||
Assets: | |||
Securities available for sale, at fair value | 783,594,000 | 783,594,000 | 705,667,000 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Mortgage-backed securities (residential) | |||
Assets: | |||
Securities available for sale, at fair value | 771,543,000 | 771,543,000 | 728,041,000 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Trust preferred securities | |||
Assets: | |||
Securities available for sale, at fair value | 4,606,000 | 4,606,000 | 11,127,000 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Municipal securities | |||
Assets: | |||
Securities available for sale, at fair value | 96,385,000 | 96,385,000 | 85,700,000 |
Recurring basis | Significant Other Observable Inputs (Level 2) | Mutual funds | |||
Assets: | |||
Securities available for sale, at fair value | 0 | 0 | 0 |
Recurring basis | Significant Unobservable Inputs (Level 3) | |||
Assets: | |||
Derivative Asset | 0 | 0 | 0 |
Mortgage Banking Derivative Assets, at Fair Value | 0 | 0 | 0 |
Mortgage Banking Derivative Liabilities, at Fair Value | 0 | 0 | 0 |
Recurring basis | Significant Unobservable Inputs (Level 3) | Debt securities | |||
Assets: | |||
Securities available for sale, at fair value | 0 | 0 | 0 |
Recurring basis | Significant Unobservable Inputs (Level 3) | Collateralized mortgage obligations (residential) | |||
Assets: | |||
Securities available for sale, at fair value | 0 | 0 | 0 |
Recurring basis | Significant Unobservable Inputs (Level 3) | Mortgage-backed securities (residential) | |||
Assets: | |||
Securities available for sale, at fair value | 0 | 0 | 0 |
Recurring basis | Significant Unobservable Inputs (Level 3) | Trust preferred securities | |||
Assets: | |||
Securities available for sale, at fair value | 0 | 0 | 0 |
Recurring basis | Significant Unobservable Inputs (Level 3) | Municipal securities | |||
Assets: | |||
Securities available for sale, at fair value | 1,127,000 | 1,127,000 | 1,139,000 |
Recurring basis | Significant Unobservable Inputs (Level 3) | Mutual funds | |||
Assets: | |||
Securities available for sale, at fair value | 0 | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Recurring basis | |||
Assets: | |||
Derivative Asset | (216,000) | (216,000) | (1,565,000) |
Mortgage Banking Derivative Assets, at Fair Value | 50,000 | 50,000 | 147,000 |
Mortgage Banking Derivative Liabilities, at Fair Value | $ 9,000 | $ 9,000 | $ 41,000 |
Fair Value Measurements - Summary of Derivative Notional Amounts and Fair Values (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Derivative [Line Items] | ||
Derivative Liability, Notional Amount | $ 274,049 | $ 223,098 |
Interest Rate Lock Commitments [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Notional Amount | 4,207 | 11,168 |
Derivative Asset, Fair Value | 31 | 130 |
Derivative Liability, Notional Amount | 2,732 | 1,810 |
Derivative Liability, Fair Value | (7) | (3) |
Short [Member] | Forward Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Notional Amount | 6,143 | 3,223 |
Derivative Asset, Fair Value | 19 | 17 |
Derivative Liability, Notional Amount | 796 | 9,755 |
Derivative Liability, Fair Value | $ (2) | $ (38) |
Fair Value Measurements - Rollforward of Level 3 Assets (Details) - USD ($) |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2017 |
Dec. 31, 2016 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Servicing Asset at Amortized Cost, Period Increase (Decrease) | $ 0 | ||||
Municipal securities | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||
Beginning Balance | $ 1,128,000 | $ 1,209,000 | $ 1,139,000 | $ 1,166,000 | |
Total (losses) gains included in other comprehensive income | (1,000) | 25,000 | (12,000) | 68,000 | |
Ending Balance | $ 1,127,000 | $ 1,139,000 | $ 1,234,000 | $ 1,127,000 | $ 1,234,000 |
Fair Value Measurements - Assets Measured at Fair Value, Non-Recurring (Details) - Non-recurring basis - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Impaired loans at fair value - Real estate loans | ||
Assets: | ||
Assets | $ 11,764 | $ 58,882 |
Impaired loans at fair value - Commercial business | ||
Assets: | ||
Assets | 6,152 | 6,563 |
Impaired loans at fair value - Consumer | ||
Assets: | ||
Assets | 253 | |
Loans held for sale, net | ||
Assets: | ||
Assets | 773 | 3,788 |
OREO | ||
Assets: | ||
Assets | 12,231 | 21,990 |
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 - Consumer | ||
Assets: | ||
Assets | 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 | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Impaired loans at fair value - Commercial business | ||
Assets: | ||
Assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) | Impaired loans at fair value - Consumer | ||
Assets: | ||
Assets | 0 | |
Significant Other Observable Inputs (Level 2) | Loans held for sale, net | ||
Assets: | ||
Assets | 773 | 3,788 |
Significant Other Observable Inputs (Level 2) | OREO | ||
Assets: | ||
Assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) | Impaired loans at fair value - Real estate loans | ||
Assets: | ||
Assets | 11,764 | 58,882 |
Significant Unobservable Inputs (Level 3) | Impaired loans at fair value - Commercial business | ||
Assets: | ||
Assets | 6,152 | 6,563 |
Significant Unobservable Inputs (Level 3) | Impaired loans at fair value - Consumer | ||
Assets: | ||
Assets | 253 | |
Significant Unobservable Inputs (Level 3) | Loans held for sale, net | ||
Assets: | ||
Assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) | OREO | ||
Assets: | ||
Assets | $ 12,231 | $ 21,990 |
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, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
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 | $ (433) | $ (58) | $ (2,435) | $ 251 |
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 | (4,027) | (176) | (5,001) | (2,848) |
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 | (527) | (215) | (1,239) | 1,081 |
Impaired loans at fair value - Consumer | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total gains (losses), fair value | (229) | (32) | (495) | (94) |
Loans held for sale, net | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total gains (losses), fair value | 353 | 43 | 772 | 43 |
OREO | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Total gains (losses), fair value | $ (733) | $ (668) | $ (1,328) | $ (1,245) |
Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Carrying Amount | ||
Financial Assets: | ||
FHLB stock | $ 22,351 | $ 21,964 |
Level 1 | Carrying Amount | ||
Financial Assets: | ||
Cash and cash equivalents | 446,415 | 437,334 |
Level 1 | Estimated Fair Value | ||
Financial Assets: | ||
Cash and cash equivalents | 446,415 | 437,334 |
Level 2 | Carrying Amount | ||
Financial Assets: | ||
Loans held for sale | 16,927 | 22,785 |
Customers' liabilities on acceptances | 1,669 | 2,899 |
Financial Liabilities: | ||
Noninterest-bearing deposits | 3,016,538 | 2,900,241 |
Saving and other interest bearing demand deposits | 3,838,676 | 3,703,352 |
Time deposits | 4,099,887 | 4,038,442 |
FHLB advances | 793,403 | 754,290 |
Subordinated debentures | 100,328 | 99,808 |
Accrued interest payable | 11,855 | 10,863 |
Bank's liabilities on acceptances outstanding | 1,669 | 2,899 |
Level 2 | Estimated Fair Value | ||
Financial Assets: | ||
Loans held for sale | 17,861 | 24,492 |
Customers' liabilities on acceptances | 1,669 | 2,899 |
Financial Liabilities: | ||
Noninterest-bearing deposits | 3,016,538 | 2,900,241 |
Saving and other interest bearing demand deposits | 3,838,676 | 3,703,352 |
Time deposits | 4,094,549 | 4,036,664 |
FHLB advances | 789,347 | 749,486 |
Subordinated debentures | 100,328 | 99,808 |
Accrued interest payable | 11,855 | 10,863 |
Bank's liabilities on acceptances outstanding | 1,669 | 2,899 |
Level 2/3 | Carrying Amount | ||
Financial Assets: | ||
Accrued interest receivable | 25,640 | 26,880 |
Level 2/3 | Estimated Fair Value | ||
Financial Assets: | ||
Accrued interest receivable | 25,640 | 26,880 |
Level 3 | Carrying Amount | ||
Financial Assets: | ||
Loans receivable - net | 10,736,345 | 10,463,989 |
Financial Liabilities: | ||
Servicing Assets, Fair Value Disclosure | 25,338 | 26,457 |
Level 3 | Estimated Fair Value | ||
Financial Assets: | ||
Loans receivable - net | 10,833,880 | 10,666,642 |
Financial Liabilities: | ||
Servicing Assets, Fair Value Disclosure | 25,338 | 26,457 |
Other Investments [Member] | Level 2 | Carrying Amount | ||
Financial Assets: | ||
Interest bearing deposits in other financial institutions and other investments | 44,202 | |
Other Investments [Member] | Level 2/3 | Carrying Amount | ||
Financial Assets: | ||
Interest bearing deposits in other financial institutions and other investments | 43,962 | |
Other Investments [Member] | Level 2/3 | Estimated Fair Value | ||
Financial Assets: | ||
Interest bearing deposits in other financial institutions and other investments | $ 43,238 | $ 43,773 |
Stockholders' Equity - Discussion of Acquisition (Details) - USD ($) $ / shares in Units, $ in Thousands |
Jul. 29, 2016 |
Jun. 30, 2017 |
Dec. 31, 2016 |
Jun. 30, 2016 |
Dec. 31, 2015 |
---|---|---|---|---|---|
Business Acquisition [Line Items] | |||||
Total stockholders’ equity | $ 1,906,294 | $ 1,855,473 | $ 971,740 | $ 938,095 | |
Wilshire Bancorp, Inc | |||||
Business Acquisition [Line Items] | |||||
Entity shares Issued per acquiree share | 0.7034 | ||||
Stock issued for acquisitions | 55,500,000 | ||||
Share price | $ 15.37 | ||||
Hope common stock issued in exchange for Wilshire common stock | $ 852,939 | ||||
Hope stock options issued in exchange Wilshire stock options | $ 3,370 |
Stockholders' Equity - Discussion of Warrants (Details) - USD ($) $ / shares in Units, $ in Millions |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
May 20, 2015 |
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Class of Warrant or Right [Line Items] | |||||
Dividends paid (in dollars per share) | $ 0.12 | $ 0.11 | $ 0.24 | $ 0.22 | |
Common Stock | |||||
Class of Warrant or Right [Line Items] | |||||
Potential repurchase | 350,767 | ||||
Redemption of common stock warrant | $ 1.2 | ||||
Maximum number of shares callable by warrants | 20,087 | 20,087 |
Stockholders' Equity - Stockholders’ Equity (Details) - USD ($) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
|
Stockholders’ Equity and Regulatory Matters [Abstract] | ||||
Beginning balance | $ (12,849,000) | $ 7,155,000 | $ (14,657,000) | $ (1,832,000) |
Unrealized gains on securities available for sale and interest only strips | 4,776,000 | 6,603,000 | 7,908,000 | 22,195,000 |
Less tax effect | 2,016,000 | 2,784,000 | 3,340,000 | 9,389,000 |
Total other comprehensive income | 2,760,000 | 3,819,000 | 4,568,000 | 12,806,000 |
Ending balance | (10,089,000) | $ 10,974,000 | (10,089,000) | $ 10,974,000 |
Reclassifications out of accumulated other comprehensive (loss) income | $ 0 | $ 0 |
Regulatory Matters (Details) - USD ($) $ in Thousands |
Jun. 30, 2017 |
Dec. 31, 2016 |
---|---|---|
Company | ||
Total capital (to risk-weighted assets), Amount | ||
Total Capital, Actual | $ 1,619,043 | $ 1,578,690 |
Total Capital, Required For Capital Adequacy Purposes | 945,169 | 926,076 |
Required for Capital Adequacy with Capital Buffer | 1,092,851 | 998,425 |
Tier I capital (to risk-weighted assets), Amount | ||
Tier I Capital, Actual (Risk Based) | 1,535,333 | 1,496,153 |
Tier I Capital, Required For Capital Adequacy Purposes | 708,876 | 694,557 |
Tier 1 Capital, Required for Capital Adequacy with Capital Buffer | 856,559 | 766,906 |
Tier I capital (to average assets), Amount | ||
Tier I Capital, Actual (Leverage) | 1,535,333 | 1,496,153 |
Tier I Capital, Required For Capital Adequacy Purposes | $ 520,617 | $ 520,947 |
Total capital and Tier I capital (to risk-weighted assets), Ratio | ||
Total Capital (to Risk Weighted Assets), Actual | 13.70% | 13.64% |
Total Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes | 8.00% | 8.00% |
Total Capital (to Risk Weighted assets), Minimum Required for Capital Adequacy with Capital Buffer | 9.25% | 8.625% |
Tier I Capital (to Risk Weighted Assets), Actual (Risk Based) | 13.00% | 12.92% |
Tier I Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes (Risk Based) | 6.00% | 6.00% |
Tier 1 Capital (to Risk Weighted Assets), Minimum Required for Capital Adequacy with Capital Buffer | 7.25% | 6.625% |
Tier I capital (to average assets), Ratio | ||
Tier I Capital (to Average Assets), Actual (Leverage) | 11.80% | 11.49% |
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 | $ 1,598,707 | $ 1,557,765 |
Total Capital, Required For Capital Adequacy Purposes | 944,668 | 925,566 |
Required for Capital Adequacy with Capital Buffer | 1,092,273 | 997,876 |
Required To Be Well Capitalized under Prompt Corrective Action Provisions | 1,180,835 | 1,156,957 |
Tier I capital (to risk-weighted assets), Amount | ||
Tier I Capital, Actual (Risk Based) | 1,514,997 | 1,475,228 |
Tier I Capital, Required For Capital Adequacy Purposes | 708,501 | 694,174 |
Tier 1 Capital, Required for Capital Adequacy with Capital Buffer | 678,980 | 766,484 |
Tier I Capital, Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Risk Based) | 944,668 | 925,566 |
Tier I capital (to average assets), Amount | ||
Tier I Capital, Actual (Leverage) | 1,514,997 | 1,475,228 |
Tier I Capital, Required For Capital Adequacy Purposes | 520,527 | 520,903 |
Tier I Capital, Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Leverage) | $ 650,659 | $ 651,129 |
Total capital and Tier I capital (to risk-weighted assets), Ratio | ||
Total Capital (to Risk Weighted Assets), Actual | 13.54% | 13.46% |
Total Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes | 8.00% | 8.00% |
Total Capital (to Risk Weighted assets), Minimum Required for Capital Adequacy with Capital Buffer | 9.25% | 8.625% |
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) | 12.83% | 12.75% |
Tier I Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes (Risk Based) | 6.00% | 6.00% |
Tier 1 Capital (to Risk Weighted Assets), Minimum Required for Capital Adequacy with Capital Buffer | 7.25% | 6.625% |
Tier I Capital (to Risk Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Risk Based) | 8.00% | 8.00% |
Tier I capital (to average assets), Ratio | ||
Tier I Capital (to Average Assets), Actual (Leverage) | 11.64% | 11.33% |
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 [Member] | Company | ||
Tier I capital (to risk-weighted assets), Amount | ||
Tier I Capital, Actual (Risk Based) | $ 1,438,907 | $ 1,400,246 |
Tier I Capital, Required For Capital Adequacy Purposes | 531,657 | 520,917 |
Tier 1 Capital, Required for Capital Adequacy with Capital Buffer | $ 679,340 | $ 593,267 |
Total capital and Tier I capital (to risk-weighted assets), Ratio | ||
Tier I Capital (to Risk Weighted Assets), Actual (Risk Based) | 12.18% | 12.10% |
Tier I Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes (Risk Based) | 4.50% | 4.50% |
Tier 1 Capital (to Risk Weighted Assets), Minimum Required for Capital Adequacy with Capital Buffer | 5.75% | 5.125% |
Common Equity Tier 1 [Member] | Bank | ||
Tier I capital (to risk-weighted assets), Amount | ||
Tier I Capital, Actual (Risk Based) | $ 1,514,997 | $ 1,475,228 |
Tier I Capital, Required For Capital Adequacy Purposes | 531,376 | 520,631 |
Tier 1 Capital, Required for Capital Adequacy with Capital Buffer | 678,980 | 592,941 |
Tier I Capital, Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Risk Based) | $ 767,543 | $ 752,022 |
Total capital and Tier I capital (to risk-weighted assets), Ratio | ||
Tier I Capital (to Risk Weighted Assets), Actual (Risk Based) | 12.83% | 12.75% |
Tier I Capital (to Risk Weighted Assets), Minimum For Capital Adequacy Purposes (Risk Based) | 4.50% | 4.50% |
Tier 1 Capital (to Risk Weighted Assets), Minimum Required for Capital Adequacy with Capital Buffer | 5.75% | 5.125% |
Tier I Capital (to Risk Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions (Risk Based) | 6.50% | 6.50% |
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