XML 59 R24.htm IDEA: XBRL DOCUMENT v2.4.0.8
Loans (Tables)
3 Months Ended
Mar. 31, 2014
Loans  
Schedule of carrying amount of loans acquired through acquisitions and legacy loans

 

 

 

 

At March 31, 2014

 

 

 

Loans Acquired From Former:

 

Legacy

 

 

 

(Dollars in Thousands)

 

Mirae Bank*

 

BankAsiana

 

Saehan Bancorp

 

Wilshire Loans

 

Total

 

Construction loans

 

$

 

$

5,772

 

$

 

$

37,505

 

$

43,277

 

Real estate secured loans

 

66,387

 

112,703

 

336,608

 

1,907,761

 

2,423,459

 

Commercial and industrial

 

4,847

 

33,183

 

32,544

 

354,274

 

424,848

 

Consumer loans

 

2

 

9

 

1,308

 

14,781

 

16,100

 

Gross Loans

 

71,236

 

151,667

 

370,460

 

2,314,321

 

2,907,684

 

Unearned Income

 

 

 

 

(8,254

)

(8,254

)

Total Loans

 

71,236

 

151,667

 

370,460

 

2,306,067

 

2,899,430

 

Allowance For Loan Losses

 

(1,926

)

(346

)

(229

)

(50,963

)

(53,464

)

Net Loans

 

$

69,310

 

$

151,321

 

$

370,231

 

$

2,255,104

 

$

2,845,966

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-for-sale loans included above

 

$

 

$

257

 

$

189

 

$

27,345

 

$

27,791

 

 

 

 

At December 31, 2013

 

 

 

Loans Acquired From Former:

 

Legacy

 

 

 

(Dollars in Thousands)

 

Mirae Bank*

 

BankAsiana

 

Saehan Bancorp

 

Wilshire Loans

 

Total

 

Construction loans

 

$

 

$

5,030

 

$

 

$

35,337

 

$

40,367

 

Real estate secured loans

 

71,493

 

117,050

 

341,002

 

1,837,985

 

2,367,530

 

Commercial and industrial

 

6,316

 

39,550

 

36,356

 

367,450

 

449,672

 

Consumer loans

 

3

 

10

 

2,376

 

12,305

 

14,694

 

Gross Loans

 

77,812

 

161,640

 

379,734

 

2,253,077

 

2,872,263

 

Unearned Income

 

 

 

 

(7,864

)

(7,864

)

Total Loans

 

77,812

 

161,640

 

379,734

 

2,245,213

 

2,864,399

 

Allowance For Loan Losses

 

(3,943

)

 

 

(49,620

)

(53,563

)

Net Loans

 

$

73,869

 

$

161,640

 

$

379,734

 

$

2,195,593

 

$

2,810,836

 

 

 

 

 

 

 

 

 

 

 

 

 

Held-for-sale loans included above

 

$

 

$

2,052

 

$

 

$

45,505

 

$

47,557

 

 

 

* Loan covered by loss-sharing agreement with the FDIC

 

Schedule of the carrying balance, net of discount, of ASC 310-30 and Non-ASC 310-30 loans

 

 

(Dollars in Thousands)

 

March 31, 2014

 

December 31, 2013

 

March 31, 2013

 

Non-ASC 310-30 loans

 

$

590,912

 

$

616,500

 

$

107,193

 

ASC 310-30 loans

 

2,451

 

2,686

 

775

 

Total outstanding acquired loan balance

 

593,363

 

619,186

 

107,968

 

Allowance related to acquired loans

 

(2,501

)

(3,943

)

(4,326

)

Carrying amount, net of allowance

 

$

590,862

 

$

615,243

 

$

103,642

 

 

Schedule of breakdown of acquired ASC 310-30 loans by loan type

 

 

(Dollars in Thousands)

 

March 31, 2014

 

December 31, 2013

 

March 31, 2013

 

Breakdown of ASC 310-30 loans

 

 

 

 

 

 

 

Real Estate Secured

 

$

2,038

 

$

2,254

 

$

660

 

Commercial & Industrial

 

413

 

432

 

115

 

Total ASC 310-30 loans

 

$

2,451

 

$

2,686

 

$

775

 

 

Schedule of changes to the total discount related to acquired loans

 

 

 

 

Three Months Ended

 

(Dollars in Thousands)

 

March 31, 2014

 

March 31, 2013

 

Balance at beginning of period

 

$

34,201

 

$

3,448

 

Discount accretion income recognized

 

(2,816

)

(228

)

Disposals related to charge-offs

 

(172

)

(74

)

Disposals related to loan sales

 

 

 

Balance at end of period

 

$

31,213

 

$

3,146

 

 

Schedule of breakdown of changes to the accretable portion of the discount related to acquired loans

 

 

 

 

Three Months Ended

 

(Dollars in Thousands)

 

March 31, 2014

 

March 31, 2013

 

Balance at beginning of period

 

$

31,450

 

$

3,275

 

Discount accretion income recognized

 

(2,791

)

(228

)

Disposals related to charge-offs

 

(2

)

(74

)

Balance at end of period

 

$

28,657

 

$

2,973

 

 

Schedule of changes to the allowance for losses on loans and loan commitments and certain ratios related to the allowance for loan losses

 

 

Allowance for Losses on Loans and Loan Commitments
(Dollars in Thousands)

 

 

 

Three Months Ended,

 

 

 

March 31, 2014

 

December 31, 2013

 

March 31, 2013

 

Balances:

 

 

 

 

 

 

 

Allowance for loan losses:

 

 

 

 

 

 

 

Balances at beginning of period

 

$

53,563

 

$

52,397

 

$

63,285

 

Actual charge-offs: *

 

 

 

 

 

 

 

Real estate secured

 

672

 

552

 

4,405

 

Commercial and industrial

 

964

 

997

 

1,183

 

Consumer

 

1

 

2

 

1

 

Total charge-offs

 

1,637

 

1,551

 

5,589

 

 

 

 

 

 

 

 

 

Recoveries on loans previously charged off:

 

 

 

 

 

 

 

Real estate secured

 

1,028

 

2,038

 

215

 

Commercial and industrial

 

510

 

679

 

658

 

Consumer

 

 

 

8

 

Total recoveries

 

1,538

 

2,717

 

881

 

 

 

 

 

 

 

 

 

Net loan charge-offs

 

99

 

(1,166

)

4,708

 

 

 

 

 

 

 

 

 

Provision for losses on loans

 

 

 

 

Balances at end of period

 

$

53,464

 

$

53,563

 

$

58,577

 

 

 

 

 

 

 

 

 

Allowance for loan commitments:

 

 

 

 

 

 

 

Balances at beginning of year

 

$

1,023

 

$

1,023

 

$

1,023

 

Credit for losses on loan commitments

 

 

 

 

Balance at end of period

 

$

1,023

 

$

1,023

 

$

1,023

 

 

 

 

 

 

 

 

 

Ratios:

 

 

 

 

 

 

 

Net loan charge-offs to average total loans (annualized)

 

0.01

%

-0.18

%

0.89

%

Allowance for loan losses to gross loans at end of period (excluding loans held-for-sale)

 

1.86

%

1.90

%

2.85

%

Net loan charge-offs to allowance for loan losses at end of period

 

0.19

%

2.18

%

8.04

%

Net loan charge-offs to credit for loan losses and loan commitments

 

0.00

%

0.00

%

0.00

%

 

 

* Charge-off amount for the three months ended March 31, 2014 includes net charge-offs of covered loans amounting to $1.6 million which represents gross covered loan charge-offs of $2.4 million less FDIC receivable portions totaling $768,000.

 

Schedule of balance of allowance for losses by loan type and the percentage of allowance for loan losses to gross loans receivable balance by loan segment

 

 

Distribution and Percentage Composition of Allowance for Loan Losses

(Dollars in Thousands)

 

 

 

March 31, 2014

 

December 31, 2013

 

 

 

Reserve

 

Loans
Receivable

 

(%)

 

Reserve

 

Loans
Receivable

 

(%)

 

Construction

 

$

791

 

$

43,277

 

1.83

%

$

814

 

$

40,367

 

2.02

%

Real estate secured

 

39,164

 

2,401,203

 

1.63

%

41,401

 

2,332,121

 

1.78

%

Commercial and industrial

 

13,353

 

419,313

 

3.18

%

11,238

 

437,524

 

2.57

%

Consumer

 

156

 

16,100

 

0.97

%

110

 

14,694

 

0.75

%

Total Gross Loans Receivable *

 

$

53,464

 

$

2,879,893

 

1.86

%

$

53,563

 

$

2,824,706

 

1.90

%

 

 

* Held-for-sale loans of $27.8 million and $47.6 million at March 31, 2014 and December 31, 2013, respectively, were excluded from the total.

 

Schedule of balance of allowance for losses on loans and the percent of real estate secured loans and commercial and industrial loans, for each loan class

 

 

 

 

March 31, 2014

 

December 31, 2013

 

Real Estate Secured Loans
(Dollars In Thousands)

 

Reserve

 

Loans
Receivable

 

(%)

 

Reserve

 

Loans
Receivable

 

(%)

 

Residential real estate

 

$

2,772

 

$

156,849

 

1.77

%

$

2,617

 

$

147,544

 

1.77

%

SBA real estate

 

1,944

 

171,773

 

1.13

%

2,164

 

168,447

 

1.28

%

Gas station secured

 

1,986

 

132,502

 

1.50

%

2,335

 

132,094

 

1.77

%

Carwash secured

 

2,748

 

55,764

 

4.93

%

3,282

 

57,117

 

5.75

%

Hotel/motel secured

 

5,071

 

187,078

 

2.71

%

6,185

 

184,632

 

3.35

%

Land secured

 

750

 

25,118

 

2.99

%

959

 

25,031

 

3.83

%

Other secured

 

23,893

 

1,672,119

 

1.43

%

23,859

 

1,617,256

 

1.48

%

Total real estate secured

 

$

39,164

 

$

2,401,203

 

1.63

%

$

41,401

 

$

2,332,121

 

1.78

%

 

 

 

March 31, 2014

 

December 31, 2013

 

Commercial & Industrial Loans
(Dollars In Thousands)

 

Reserve

 

Loans
Receivable

 

(%)

 

Reserve

 

Loans
Receivable

 

(%)

 

SBA commercial

 

$

2,214

 

$

44,867

 

4.93

%

$

2,263

 

$

47,901

 

4.72

%

Other commercial & industrial

 

11,139

 

374,446

 

2.97

%

8,975

 

389,623

 

2.30

%

Total commercial & industrial

 

$

13,353

 

$

419,313

 

3.18

%

$

11,238

 

$

437,524

 

2.57

%

 

Schedule of impaired loan balances are broken down by those with and without specific reserves

 

 

 

 

For Quarter Ended

 

(Dollars in Thousands)

 

March 31, 2014

 

December 31, 2013

 

With Specific Reserves

 

 

 

 

 

Without Charge-Offs

 

$

17,838

 

$

17,265

 

With Charge-Offs

 

2,264

 

8

 

Without Specific Reserves

 

 

 

 

 

Without Charge-Off

 

43,130

 

36,781

 

With Charge-Offs

 

14,716

 

18,760

 

Total Impaired Loans*

 

77,948

 

72,814

 

Allowance on Impaired Loans

 

(8,291

)

(3,815

)

Impaired Loans Net of Allowance

 

$

69,657

 

$

68,999

 

 

 

* Balances net of SBA guaranteed portions and discount on acquired loans totaled $72.5 million and $65.9 million at March 31, 2014 and December 31, 2013, respectively.

 

Schedule of impairment balances with specific reserves and those without specific reserves by loan class

 

 

 

 

March 31, 2014

 

December 31, 2013

 

 

 

 

 

Related

 

Average

 

 

 

Related

 

Average

 

(Dollars In Thousands)

 

Balance

 

Allowance

 

Balance

 

Balance

 

Allowance

 

Balance

 

With Specific Reserves:

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction

 

$

 

$

 

$

 

$

 

$

 

$

 

Real Estate Secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Real Estate

 

451

 

2

 

458

 

 

 

 

SBA Real Estate

 

2,103

 

485

 

2,165

 

1,668

 

675

 

1,858

 

Gas Station

 

787

 

81

 

787

 

1,339

 

160

 

1,359

 

Carwash

 

 

 

 

 

 

 

Hotel/Motel

 

 

 

 

 

 

 

Land

 

 

 

 

266

 

7

 

270

 

Other

 

10,885

 

2,343

 

10,905

 

8,373

 

1,015

 

8,528

 

Commercial & Industrial:

 

 

 

 

 

 

 

 

 

 

 

 

 

SBA Commercial

 

834

 

701

 

897

 

846

 

507

 

1,205

 

Commercial

 

5,042

 

4,679

 

7,249

 

4,781

 

1,451

 

5,261

 

Consumer

 

 

 

 

 

 

 

Total With Related Allowance

 

20,102

 

8,291

 

22,461

 

17,273

 

3,815

 

18,481

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Without Specific Reserves:

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction

 

$

 

$

 

$

 

$

2,471

 

$

 

$

2,452

 

Real Estate Secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Real Estate

 

640

 

 

653

 

1,265

 

 

1,567

 

SBA Real Estate

 

6,938

 

 

7,570

 

8,659

 

 

19,511

 

Gas Station

 

6,841

 

 

6,863

 

5,584

 

 

8,282

 

Carwash

 

5,781

 

 

5,797

 

5,810

 

 

6,753

 

Hotel/Motel

 

4,908

 

 

4,924

 

5,640

 

 

9,032

 

Land

 

264

 

 

265

 

 

 

 

Other

 

28,303

 

 

28,454

 

24,758

 

 

31,851

 

Commercial & Industrial:

 

 

 

 

 

 

 

 

 

 

 

 

 

SBA Commercial

 

367

 

 

385

 

371

 

 

932

 

Commercial

 

3,804

 

 

3,954

 

983

 

 

1,535

 

Consumer

 

 

 

 

 

 

 

Total Without Related Allowance

 

57,846

 

$

 

58,865

 

55,541

 

 

81,915

 

Total Impaired Loans

 

$

77,948

 

$

8,291

 

$

81,326

 

$

72,814

 

$

3,815

 

$

100,396

 

 

Schedule of delinquent loans, including non-accrual loans 30 days past due or greater by loan class

 

 

 

 

March 31, 2014

 

December 31, 2013

 

(Dollars In Thousands)
(Balances are net of SBA guaranteed portions)

 

30-59
Days

Past Due

 

60-89
Days

Past Due

 

90 Days
or More
Past Due

 

Total
Past Due*

 

30-59
Days

Past Due

 

60-89
Days

Past Due

 

90 Days
or More
Past Due

 

Total
Past Due*

 

Legacy Wilshire:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction

 

$

 

$

 

$

 

$

 

$

 

$

 

$

2,471

 

$

2,471

 

Real Estate Secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Real Estate

 

177

 

 

451

 

628

 

 

179

 

617

 

796

 

SBA Real Estate

 

350

 

14

 

363

 

727

 

394

 

437

 

597

 

1,428

 

Gas Station

 

 

 

842

 

842

 

176

 

 

849

 

1,025

 

Carwash

 

 

 

770

 

770

 

 

 

769

 

769

 

Hotel/Motel

 

 

 

1,262

 

1,262

 

 

810

 

1,962

 

2,772

 

Other

 

3,268

 

881

 

11,941

 

16,090

 

945

 

4,221

 

9,536

 

14,702

 

Commercial & Industrial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SBA Commercial

 

378

 

 

8

 

386

 

458

 

16

 

 

474

 

Commercial

 

633

 

1,935

 

675

 

3,243

 

41

 

 

39

 

80

 

Consumer

 

 

 

 

 

 

41

 

 

41

 

Total Legacy Loans

 

4,806

 

2,830

 

16,312

 

23,948

 

2,014

 

5,704

 

16,840

 

24,558

 

Acquired Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction

 

 

 

 

 

 

 

 

 

Real Estate Secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Real Estate

 

 

 

 

 

147

 

 

 

147

 

SBA Real Estate

 

422

 

533

 

1,227

 

2,182

 

225

 

 

528

 

753

 

Gas Station

 

 

 

787

 

787

 

 

 

 

 

Carwash

 

 

 

 

 

 

 

168

 

168

 

Hotel/Motel

 

 

 

 

 

 

 

 

 

Other

 

1,413

 

1,245

 

1,309

 

3,967

 

1,656

 

388

 

853

 

2,897

 

Commercial & Industrial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SBA Commercial

 

270

 

 

16

 

286

 

287

 

267

 

17

 

571

 

Commercial

 

858

 

1,080

 

431

 

2,369

 

344

 

143

 

178

 

665

 

Consumer

 

 

9

 

 

9

 

10

 

 

 

10

 

Total Acquired Loans

 

2,963

 

2,867

 

3,770

 

9,600

 

2,669

 

798

 

1,744

 

5,211

 

Total Delinquencies

 

$

7,769

 

$

5,697

 

$

20,082

 

$

33,548

 

$

4,683

 

$

6,502

 

$

18,584

 

$

29,769

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Accrual Loans 30 Days or More Past Due:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Legacy Loans

 

$

1,062

 

$

2,649

 

$

16,312

 

$

20,023

 

$

615

 

$

3,572

 

$

16,841

 

$

21,028

 

Acquired Loans

 

951

 

1,522

 

3,770

 

6,243

 

1,222

 

403

 

1,576

 

3,201

 

Non-Accrual Loans Listed Above

 

$

2,013

 

$

4,171

 

$

20,082

 

$

26,266

 

$

1,837

 

$

3,975

 

$

18,417

 

$

24,229

 

 

 

*   Total past due balances are net of SBA guaranteed portions totaling $10.8 million and $12.6 million at March 31, 2014 and December 31, 2013, respectively.

 

Summary of non-accrual loans and loan past due over 90 days or more and still accruing

 

 

 

 

March 31, 2014

 

December 31, 2013

 

 

 

 

 

90 Days

 

Total

 

 

 

90 Days

 

Total

 

 

 

Total

 

or More

 

Non-

 

Total

 

or More

 

Non-

 

(Dollars In Thousands)

 

Non-Accrual

 

Past Due and

 

Performing

 

Non-Accrual

 

Past Due and

 

Performing

 

(Balances are net of SBA guaranteed portions)

 

Loans

 

Still Accruing

 

Loans*

 

Loans

 

Still Accruing

 

Loans*

 

Legacy Wilshire:

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction

 

$

 

$

 

$

 

$

2,471

 

$

 

$

2,471

 

Real Estate Secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Real Estate

 

1,030

 

 

1,030

 

1,050

 

 

1,050

 

SBA Real Estate

 

1,129

 

 

1,129

 

958

 

 

958

 

Gas Station

 

1,018

 

 

1,018

 

1,026

 

 

1,026

 

Carwash

 

770

 

 

770

 

770

 

 

770

 

Hotel/Motel

 

1,414

 

 

1,414

 

2,117

 

 

2,117

 

Land

 

 

 

 

 

 

 

Other

 

20,528

 

 

20,528

 

19,518

 

 

19,518

 

Commercial & Industrial:

 

 

 

 

 

 

 

 

 

 

 

 

 

SBA Commercial

 

133

 

 

133

 

137

 

 

137

 

Other Commercial

 

5,417

 

 

5,417

 

580

 

 

580

 

Consumer

 

 

 

 

 

 

 

Total Legacy Loans

 

31,439

 

 

31,439

 

28,627

 

 

28,627

 

Acquired Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction

 

 

 

 

 

 

 

Real Estate Secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Real Estate

 

61

 

 

61

 

215

 

 

215

 

SBA Real Estate

 

2,048

 

 

2,048

 

811

 

 

811

 

Gas Station

 

3,032

 

 

3,032

 

2,264

 

 

2,264

 

Carwash

 

 

 

 

 

168

 

168

 

Hotel/Motel

 

752

 

 

752

 

760

 

 

760

 

Land

 

 

 

 

 

 

 

Other

 

4,206

 

 

4,206

 

3,912

 

 

3,912

 

Commercial & Industrial:

 

 

 

 

 

 

 

 

 

 

 

 

 

SBA Commercial

 

58

 

 

58

 

69

 

 

69

 

Other Commercial

 

1,513

 

 

1,513

 

410

 

 

410

 

Consumer

 

 

 

 

 

 

 

Total Acquired Loans

 

11,670

 

 

11,670

 

8,441

 

168

 

8,609

 

Total

 

$

43,109

 

$

 

$

43,109

 

$

37,068

 

$

168

 

$

37,236

 

 

 

*   Balances are net of SBA guaranteed portions totaling $10.2 million and $12.4 million at March 31, 2014 and December 31, 2013, respectively.

 

Schedule of loans classified as special mention, substandard and doubtful presented by classes of loans

 

 

 

 

March 31, 2014

 

December 31, 2013

 

(Dollars In Thousands)
(Balances are net of SBA guaranteed portions)

 

Special
Mention

 

Sub-
standard

 

Doubtful

 

Total*

 

Special
Mention

 

Sub-
standard

 

Doubtful

 

Total*

 

Legacy Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction

 

$

 

$

 

$

 

$

 

$

 

$

2,471

 

$

 

$

2,471

 

Real Estate Secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Real Estate

 

 

2,459

 

604

 

3,063

 

 

2,342

 

166

 

2,508

 

SBA Real Estate

 

2,586

 

5,165

 

335

 

8,086

 

4,314

 

5,100

 

510

 

9,924

 

Gas Station

 

1,149

 

6,068

 

842

 

8,059

 

1,158

 

6,115

 

849

 

8,122

 

Carwash

 

 

10,370

 

770

 

11,140

 

 

10,437

 

770

 

11,207

 

Hotel/Motel

 

1,875

 

2,593

 

1,414

 

5,882

 

2,508

 

4,571

 

155

 

7,234

 

Land

 

264

 

658

 

 

922

 

266

 

662

 

 

928

 

Other

 

34,422

 

43,529

 

13,390

 

91,341

 

33,886

 

53,089

 

4,179

 

91,154

 

Commercial & Industrial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SBA Commercial

 

1,451

 

1,806

 

 

3,257

 

1,364

 

1,774

 

 

3,138

 

Other Commercial

 

23,617

 

12,616

 

38

 

36,271

 

16,128

 

19,349

 

39

 

35,516

 

Consumer

 

 

2

 

 

2

 

 

2

 

 

2

 

Total Legacy Loans

 

65,364

 

85,266

 

17,393

 

168,023

 

59,624

 

105,912

 

6,668

 

172,204

 

Acquired Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction

 

 

 

 

 

 

 

 

 

Real Estate Secured:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Real Estate

 

 

1,071

 

 

1,071

 

 

1,228

 

 

1,228

 

SBA Real Estate

 

2,483

 

4,488

 

1,132

 

8,103

 

3,587

 

2,894

 

274

 

6,755

 

Gas Station

 

2,418

 

3,845

 

 

6,263

 

2,434

 

3,867

 

 

6,301

 

Carwash

 

11,469

 

1,428

 

 

12,897

 

12,256

 

1,435

 

 

13,691

 

Hotel/Motel

 

1,100

 

7,047

 

752

 

8,899

 

2,432

 

7,443

 

760

 

10,635

 

Land

 

 

 

 

 

 

 

 

 

Other

 

16,502

 

13,602

 

638

 

30,742

 

15,912

 

12,968

 

297

 

29,177

 

Commercial & Industrial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SBA Commercial

 

1,019

 

867

 

16

 

1,902

 

950

 

1,609

 

16

 

2,575

 

Other Commercial

 

1,130

 

10,373

 

 

11,503

 

3,448

 

12,123

 

 

15,571

 

Consumer

 

142

 

9

 

 

151

 

155

 

 

 

155

 

Total Acquired Loans

 

36,263

 

42,730

 

2,538

 

81,531

 

41,174

 

43,567

 

1,347

 

86,088

 

Total Loans

 

$

101,627

 

$

127,996

 

$

19,931

 

$

249,554

 

$

100,798

 

$

149,479

 

$

8,015

 

$

258,292

 

 

 

* Balances are net of SBA guaranteed portions totaling $14.3 million and $16.4 million at March 31, 2014 and December 31, 2013, respectively.

 

Schedule of allowance for loan losses roll-forward and breakdown by loan segment

 

 

 

 

March 31, 2014

 

(Dollars in Thousands)

 

Construction

 

Real Estate
Secured

 

Commercial &
Industrial

 

Consumer

 

Total

 

Balance at beginning of quarter

 

$

814

 

$

41,401

 

$

11,238

 

$

110

 

$

53,563

 

Total charge-offs

 

 

(672

)

(964

)

(1

)

(1,637

)

Total recoveries

 

 

1,028

 

510

 

 

1,538

 

Provision for losses on loans

 

(23

)

(2,593

)

2,569

 

47

 

 

Balance at end of quarter

 

$

791

 

$

39,164

 

$

13,353

 

$

156

 

$

53,464

 

 

 

 

March 31, 2013

 

(Dollars in Thousands)

 

Construction

 

Real Estate
Secured

 

Commercial &
Industrial

 

Consumer

 

Total

 

Balance at beginning of quarter

 

$

453

 

$

49,956

 

$

12,737

 

$

139

 

$

63,285

 

Total charge-offs

 

 

(4,405

)

(1,183

)

(1

)

(5,589

)

Total recoveries

 

 

215

 

658

 

8

 

881

 

Provision (credit) for losses on loans and loan commitments

 

241

 

(1,468

)

1,252

 

(25

)

 

Balance at end of quarter

 

$

694

 

$

44,298

 

$

13,464

 

$

121

 

$

58,577

 

 

Schedule of breakdown of the allowance for loan losses and gross loans receivable (gross loans excluding loans held-for-sale) balances by SVA and GVA

 

 

 

 

March 31, 2014

 

(Dollars in Thousands)

 

Construction

 

Real Estate
Secured

 

Commercial &
Industrial

 

Consumer

 

Gross Loans
Receivable

 

Impaired loans

 

$

 

$

67,900

 

$

10,048

 

$

 

$

77,948

 

Specific valuation allowance

 

$

 

$

2,911

 

$

5,380

 

$

 

$

8,291

 

Coverage ratio

 

0.00

%

4.29

%

53.54

%

0.00

%

10.64

%

 

 

 

 

 

 

 

 

 

 

 

 

Non-impaired loans

 

$

43,277

 

$

2,333,303

 

$

409,265

 

$

16,100

 

$

2,801,945

 

General valuation allowance

 

$

791

 

$

36,253

 

$

7,973

 

$

156

 

$

45,173

 

Coverage ratio

 

1.83

%

1.55

%

1.95

%

0.97

%

1.61

%

 

 

 

 

 

 

 

 

 

 

 

 

Gross loans receivable

 

$

43,277

 

$

2,401,203

 

$

419,313

 

$

16,100

 

$

2,879,893

 

Allowance for loan losses

 

$

791

 

$

39,164

 

$

13,353

 

$

156

 

$

53,464

 

Allowance coverage ratio

 

1.83

%

1.63

%

3.18

%

0.97

%

1.86

%

 

 

 

December 31, 2013

 

(Dollars in Thousands)

 

Construction

 

Real Estate
Secured

 

Commercial &
Industrial

 

Consumer

 

Gross Loans
Receivable

 

Impaired loans

 

$

2,471

 

$

63,363

 

$

6,980

 

$

 

$

72,814

 

Specific valuation allowance

 

$

 

$

1,857

 

$

1,958

 

$

 

$

3,815

 

Coverage ratio

 

0.00

%

2.93

%

28.05

%

0.00

%

5.24

%

 

 

 

 

 

 

 

 

 

 

 

 

Non-impaired loans

 

$

37,896

 

$

2,268,758

 

$

430,544

 

$

14,694

 

$

2,751,892

 

General valuation allowance

 

$

814

 

$

39,544

 

$

9,280

 

$

110

 

$

49,748

 

Coverage ratio

 

2.15

%

1.74

%

2.16

%

0.75

%

1.81

%

 

 

 

 

 

 

 

 

 

 

 

 

Gross loans receivable

 

$

40,367

 

$

2,332,121

 

$

437,524

 

$

14,694

 

$

2,824,706

 

Allowance for loan losses

 

$

814

 

$

41,401

 

$

11,238

 

$

110

 

$

53,563

 

Allowance coverage ratio

 

2.02

%

1.78

%

2.57

%

0.75

%

1.90

%

 

Schedule of breakdown of loan balances for loans acquired with deteriorated credit quality

 

 

 

 

March 31, 2014

 

(Dollars in Thousands)

 

Construction

 

Real Estate
Secured

 

Commercial &
Industrial

 

Consumer

 

Total

 

Balance of Loans Acquired With Deteriorated Credit Quality

 

$

 

$

2,038

 

$

413

 

$

 

$

2,451

 

Total Allowance for Loans Acquired With Deteriorated Credit Quality

 

$

 

$

231

 

$

155

 

$

 

$

386

 

 

 

 

December 31, 2013

 

(Dollars in Thousands)

 

Construction

 

Real Estate
Secured

 

Commercial &
Industrial

 

Consumer

 

Total

 

Balance of Loans Acquired With Deteriorated Credit Quality

 

$

 

$

2,254

 

$

432

 

$

 

$

2,686

 

Total Allowance for Loans Acquired With Deteriorated Credit Quality

 

$

 

$

 

$

 

$

 

$

 

 

Schedule of total recorded investment of TDR loans by types of concessions made and loan type

 

 

 

 

March 31, 2014

 

(Dollars In Thousands, Net of SBA Guarantee)

 

Balance

 

Term/Maturity

 

Interest Rate

 

Total*

 

Real Estate Secured

 

$

15,462

 

$

9,150

 

$

9,953

 

$

34,565

 

Commercial & Industrial

 

1,686

 

1,585

 

2,292

 

5,563

 

Total TDR Loans

 

$

17,148

 

$

10,735

 

$

12,245

 

$

40,128

 

 

 

 

December 31, 2013

 

(Dollars In Thousands, Net of SBA Guarantee)

 

Balance

 

Term/Maturity

 

Interest Rate

 

Total*

 

Real Estate Secured

 

$

15,640

 

$

8,708

 

$

5,660

 

$

30,008

 

Commercial & Industrial

 

2,212

 

1,645

 

2,355

 

6,212

 

Total TDR Loans

 

$

17,852

 

$

10,353

 

$

8,015

 

$

36,220

 

 

 

* SBA guaranteed portions totaled $2.9 million and $2.8 million at March 31, 2014 and December 31, 2013, respectively.

 

Schedule of the roll-forward of TDR loans with addition and reductions

 

 

(Dollars in Thousands, Net of SBA Guarantee)

 

March 31, 2014

 

December 31, 2013

 

March 31, 2013

 

Balance at Beginning of Period

 

$

36,220

 

$

29,472

 

$

35,733

 

New TDR Loans Added

 

5,010

 

8,212

 

717

 

TDR Loans Paid Off

 

 

(463

)

(2,016

)

Reductions Due to Charge-Offs

 

(438

)

(412

)

(3,202

)

Other Changes (Payments, Amortization, & Other)

 

(664

)

(589

)

(365

)

Balance at End of Period

 

$

40,128

 

$

36,220

 

$

30,867

 

 

Summary of the pre-modification and post-modification balances and types of concessions provided for new TDR loans

 

 

 

 

March 31, 2014

 

(Dollars in Thousands, Net of SBA Guarantee)

 

Principal

 

Term/Maturity

 

Interest Rate

 

Total

 

Pre-Modification Balance:

 

 

 

 

 

 

 

 

 

Real Estate Secured

 

$

 

$

536

 

$

4,335

 

$

4,871

 

Commercial & Industrial

 

41

 

105

 

 

146

 

Total TDR Loans

 

$

41

 

$

641

 

$

4,335

 

$

5,017

 

 

 

 

 

 

 

 

 

 

 

Post-Modification Balance:

 

 

 

 

 

 

 

 

 

Real Estate Secured

 

$

 

$

533

 

$

4,335

 

$

4,868

 

Commercial & Industrial

 

41

 

101

 

 

142

 

Total TDR Loans

 

$

41

 

$

634

 

$

4,335

 

$

5,010

 

 

 

 

 

 

 

 

 

 

 

Number of Loans:

 

 

 

 

 

 

 

 

 

Real Estate Secured

 

 

2

 

1

 

3

 

Commercial & Industrial

 

2

 

3

 

 

5

 

Total TDR Loans

 

2

 

5

 

1

 

8

 

 

 

 

December 31, 2013

 

(Dollars in Thousands, Net of SBA Guarantee)

 

Principal

 

Term/Maturity

 

Interest Rate

 

Total*

 

Pre-Modification Balance:

 

 

 

 

 

 

 

 

 

Real Estate Secured

 

$

9,090

 

$

691

 

$

 

$

9,781

 

Commercial & Industrial

 

184

 

615

 

 

799

 

Total TDR Loans

 

$

9,274

 

$

1,306

 

$

 

$

10,580

 

 

 

 

 

 

 

 

 

 

 

Post-Modification Balance:

 

 

 

 

 

 

 

 

 

Real Estate Secured

 

$

6,868

 

$

680

 

$

 

$

7,548

 

Commercial & Industrial

 

157

 

507

 

 

664

 

Total TDR Loans

 

$

7,025

 

$

1,187

 

$

 

$

8,212

 

 

 

 

 

 

 

 

 

 

 

Number of Loans:

 

 

 

 

 

 

 

 

 

Real Estate Secured

 

13

 

1

 

 

14

 

Commercial & Industrial

 

3

 

2

 

 

5

 

Total TDR Loans

 

16

 

3

 

 

19

 

 

 

 

March 31, 2013

 

(Dollars in Thousands, Net of SBA Guarantee)

 

Principal

 

Term/Maturity

 

Interest Rate

 

Total*

 

Pre-Modification Balance:

 

 

 

 

 

 

 

 

 

Real Estate Secured

 

$

267

 

$

354

 

$

 

$

621

 

Commercial & Industrial

 

28

 

100

 

 

128

 

Total TDR Loans

 

$

295

 

$

454

 

$

 

$

749

 

 

 

 

 

 

 

 

 

 

 

Post-Modification Balance:

 

 

 

 

 

 

 

 

 

Real Estate Secured

 

$

265

 

$

352

 

$

 

$

617

 

Commercial & Industrial

 

 

100

 

 

100

 

Total TDR Loans

 

$

265

 

$

452

 

$

 

$

717

 

 

 

 

 

 

 

 

 

 

 

Number of Loans:

 

 

 

 

 

 

 

 

 

Real Estate Secured

 

1

 

1

 

 

2

 

Commercial & Industrial

 

2

 

2

 

 

4

 

Total TDR Loans

 

3

 

3

 

 

6

 

 

 

* Balances are net of SBA guaranteed portions

 

Summary of TDR loans that were modified during the past 12 months that had a payment default

 

 

 

 

TDRs With Payment Defaults During the
Three Months Ended March 31, 2014

 

(Dollars in Thousands, Net of SBA Guarantee)

 

Principal

 

Term/Maturity

 

Interest Rate

 

Total*

 

Pre-Modification Balance:

 

 

 

 

 

 

 

 

 

Real Estate Secured

 

$

417

 

$

 

$

 

$

417

 

Commercial & Industrial

 

3

 

 

 

3

 

Total TDRs Defaulted

 

$

420

 

$

 

$

 

$

420

 

 

 

 

 

 

 

 

 

 

 

Post-Modification Balance:

 

 

 

 

 

 

 

 

 

Real Estate Secured

 

$

414

 

$

 

$

 

$

414

 

Commercial & Industrial

 

3

 

 

 

3

 

Total TDRs Defaulted

 

$

417

 

$

 

$

 

$

417

 

 

 

 

 

 

 

 

 

 

 

Number of Loans:

 

 

 

 

 

 

 

 

 

Real Estate Secured

 

1

 

 

 

1

 

Commercial & Industrial

 

1

 

 

 

1

 

Total TDRs Defaulted Loans

 

2

 

 

 

2

 

 

 

 

TDRs With Payment Defaults During the
Three Months Ended December 31, 2013

 

(Dollars in Thousands, Net of SBA Guarantee)

 

Principal

 

Term/Maturity

 

Interest Rate

 

Total*

 

Pre-Modification Balance:

 

 

 

 

 

 

 

 

 

Real Estate Secured

 

$

427

 

$

374

 

$

 

$

801

 

Commercial & Industrial

 

77

 

 

 

77

 

Total TDRs Defaulted

 

$

504

 

$

374

 

$

 

$

878

 

 

 

 

 

 

 

 

 

 

 

Post-Modification Balance:

 

 

 

 

 

 

 

 

 

Real Estate Secured

 

$

241

 

$

334

 

$

 

$

575

 

Commercial & Industrial

 

55

 

 

 

55

 

Total TDRs Defaulted

 

$

296

 

$

334

 

$

 

$

630

 

 

 

 

 

 

 

 

 

 

 

Number of Loans:

 

 

 

 

 

 

 

 

 

Real Estate Secured

 

1

 

1

 

 

2

 

Commercial & Industrial

 

1

 

 

 

1

 

Total TDRs Defaulted Loans

 

2

 

1

 

 

3

 

 

 

 

TDRs With Payment Defaults During the
Three Months Ended March 31, 2013

 

(Dollars in Thousands, Net of SBA Guarantee)

 

Principal

 

Term/Maturity

 

Interest Rate

 

Total*

 

Pre-Modification Balance:

 

 

 

 

 

 

 

 

 

Real Estate Secured

 

$

158

 

$

 

$

 

$

158

 

Commercial & Industrial

 

98

 

 

 

98

 

Total TDRs Defaulted

 

$

256

 

$

 

$

 

$

256

 

 

 

 

 

 

 

 

 

 

 

Post-Modification Balance:

 

 

 

 

 

 

 

 

 

Real Estate Secured

 

$

126

 

$

 

$

 

$

126

 

Commercial & Industrial

 

58

 

 

 

58

 

Total TDRs Defaulted

 

$

184

 

$

 

$

 

$

184

 

 

 

 

 

 

 

 

 

 

 

Number of Loans:

 

 

 

 

 

 

 

 

 

Real Estate Secured

 

2

 

 

 

2

 

Commercial & Industrial

 

3

 

 

 

3

 

Total TDRs Defaulted Loans

 

5

 

 

 

5

 

 

 

* Balances are net of SBA guaranteed portions