10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2015

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                     

Commission file number 001-36586

FCB FINANCIAL HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

Delaware	001-36586	27-0775699
(State or other jurisdiction of incorporation)	(Commission file number)	(IRS Employer Identification Number)

2500 Weston Road, Suite 300

Weston, Florida 33331

(Address of principal executive offices)

(954) 984-3313

(Registrant’s telephone number, including area code)

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

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

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

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	x	Smaller reporting company	¨

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

As of July 31, 2015, the registrant had 37,457,737 shares of Class A Common Stock and 4,129,662 shares of Class B Non-voting Common Stock outstanding.

FCB FINANCIAL HOLDINGS, INC.

FORM 10-Q

INDEX

PART I.		FINANCIAL INFORMATION
	Item 1.	Consolidated Financial Statements (Unaudited)
			Consolidated Balance Sheets	3
			Consolidated Statements of Income	4
			Consolidated Statements of Comprehensive Income	5
			Consolidated Statements of Changes in Stockholders’ Equity	6
			Consolidated Statements of Cash Flows	7
			Notes to Consolidated Financial Statements	8
	Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		39
	Item 3.	Quantitative and Qualitative Disclosures About Market Risk		69
	Item 4.	Controls and Procedures		69
PART II.		OTHER INFORMATION
	Item 1.	Legal Proceedings		70
	Item 1A.	Risk Factors		70
	Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		70
	Item 3.	Default Upon Senior Securities		70
	Item 4.	Mine Safety Disclosures		70
	Item 5.	Other Information		70
	Item 6.	Exhibits		70
		Signatures		71

2

FCB FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Dollars in thousands, except share and per share data)

	June 30, 2015			December 31, 2014
Assets:
Cash and due from banks	$	32,161		$	25,397
Interest-earning deposits in other banks		109,125			81,688
Investment securities:
Available for sale securities, at fair value		1,430,149			1,359,098
Federal Home Loan Bank and other bank stock, at cost		70,505			66,891
Total investment securities		1,500,654			1,425,989
Loans held for sale		4,782			707
Loans:
New loans		3,807,547			3,103,417
Acquired loans ($0 and $273,366 covered by FDIC loss share, respectively)		720,175			826,173
Allowance for loan losses		(27,046	)		(22,880	)
Loans, net		4,500,676			3,906,710
FDIC loss share indemnification asset		—			63,168
Due from FDIC		—			1,735
Premises and equipment, net		37,641			38,962
Other real estate owned ($0 and $25,130 of foreclosed property covered by FDIC loss share, respectively)		42,654			74,527
Goodwill and other intangible assets		87,884			88,615
Deferred tax assets, net (including valuation allowance of $9,126 and $9,151, respectively)		76,720			47,441
Bank-owned life insurance		140,830			139,829
Other assets		74,071			62,860
Total assets	$	6,607,198		$	5,957,628
Liabilities and Stockholders’ Equity
Liabilities:
Deposits:
Transaction accounts:
Noninterest-bearing	$	621,845		$	593,025
Interest-bearing		2,586,491			2,308,657
Total transaction accounts		3,208,336			2,901,682
Time deposits		1,257,751			1,076,853
Total deposits		4,466,087			3,978,535
Borrowings (including FHLB advances of $1,093,100 and $983,686, respectively)		1,232,893			1,067,981
Other liabilities		50,739			59,459
Total liabilities		5,749,719			5,105,975
Commitments and contingencies (Note 12)
Stockholders’ Equity:
Class A common stock, par value $0.001 per share; 100 million shares authorized; 37,806,869, 35,396,962 issued and 36,849,557, 34,469,650 outstanding		37			36
Class B common stock, par value $0.001 per share; 50 million shares authorized; 4,765,774, 7,132,180 issued and 4,573,642, 6,940,048 outstanding		6			7
Additional paid-in capital		839,265			834,538
Retained earnings		37,646			35,144
Accumulated other comprehensive income (loss)		78			679
Treasury stock, at cost; 957,312, 927,312 Class A and 192,132, 192,132 Class B common shares		(19,553	)		(18,751	)
Total stockholders’ equity		857,479			851,653
Total liabilities and stockholders’ equity	$	6,607,198		$	5,957,628

The accompanying notes are an integral part of these consolidated financial statements

3

FCB FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

(Dollars in thousands, except share and per share data)

	Three Months Ended June 30,					Six Months Ended June 30,
	2015		2014			2015			2014
Interest income:
Interest and fees on loans	$	44,202	$	37,833		$	87,508		$	72,685
Interest and dividends on investment securities		13,169		10,566			25,279			20,564
Other interest income		40		53			73			121
Total interest income		57,411		48,452			112,860			93,370
Interest expense:
Interest on deposits		5,991		5,833			11,576			11,142
Interest on borrowings		1,246		1,466			2,226			2,730
Total interest expense		7,237		7,299			13,802			13,872
Net interest income		50,174		41,153			99,058			79,498
Provision for loan losses		2,470		3,236			3,819			4,326
Net interest income after provision for loan losses		47,704		37,917			95,239			75,172
Noninterest income:
Service charges and fees		778		707			1,535			1,445
Loan and other fees		1,906		2,569			4,403			3,285
Bank-owned life insurance income		1,097		1,038			2,194			1,856
FDIC loss share indemnification loss		—		(5,247	)		(65,529	)		(10,239	)
Income from resolution of acquired assets		2,898		1,692			6,270			2,729
Gain (loss) on sales of other real estate owned		5,605		(359	)		7,170			72
Gain (loss) on investment securities		761		4,448			1,768			6,943
Other noninterest income		1,107		1,842			2,252			3,147
Total noninterest income		14,152		6,690			(39,937	)		9,238
Noninterest expense:
Salaries and employee benefits		17,856		13,411			34,431			29,831
Occupancy and equipment expenses		3,806		3,777			7,083			7,210
Loan and other real estate related expenses		1,425		3,338			3,501			7,099
Professional services		1,189		1,352			2,595			3,184
Data processing and network		2,801		2,357			5,519			5,567
Regulatory assessments and insurance		2,092		1,920			4,211			3,694
Amortization of intangibles		407		443			831			859
Other operating expenses		2,471		4,146			4,526			7,766
Total noninterest expense		32,047		30,744			62,697			65,210
Income (loss) before income tax expense (benefit)		29,809		13,863			(7,395	)		19,200
Income tax expense (benefit)		10,433		4,697			(9,897	)		6,506
Net income (loss)	$	19,376	$	9,166		$	2,502		$	12,694
Earnings (loss) per share:
Basic	$	0.47	$	0.26		$	0.06		$	0.35
Diluted	$	0.45	$	0.26		$	0.06		$	0.35
Weighted average shares outstanding:
Basic		41,428,588		35,892,154			41,425,240			35,892,154
Diluted		43,106,131		35,896,207			42,752,814			35,896,257

The accompanying notes are an integral part of these consolidated financial statements

4

FCB FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

(Dollars in thousands)

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
Net income (loss)	$	19,376		$	9,166		$	2,502		$	12,694
Other comprehensive income (loss):
Unrealized net holding gains (losses) on investment securities available for sale, net of taxes of $6,121, $(4,894), $(501) and $(7,606), respectively		(9,747	)		7,791			799			12,109
Reclassification adjustment for realized (gains) losses on investment securities available for sale included in net income, net of taxes of $456, $1,148, $879, and $1,480, respectively		(727	)		(1,830	)		(1,400	)		(2,357	)
Total other comprehensive income (loss)		(10,474	)		5,961			(601	)		9,752
Total comprehensive income (loss)	$	8,902		$	15,127		$	1,901		$	22,446

The accompanying notes are an integral part of these consolidated financial statements

5

FCB FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

(Unaudited)

(Dollars in thousands, except for share data)

	Common Stock Shares Outstanding						Common Stock Issued					Additional Paid in Capital			Retained Earnings (Deficit)		Treasury Stock			Accumulated Other Comprehensive Income (Loss)			Total Stockholders’ Equity
	Class A			Class B			Class A		Class B
Balance as of January 1, 2014		28,065,002			7,827,152		$	29	$	8		$	723,631		$	12,772	$	(18,751	)	$	(1,575	)	$	716,114
Net income (loss)		—			—			—		—			—			12,694		—			—			12,694
Exchange of B shares to A shares		68,499			(68,499	)		—		—			—			—		—			—			—
Stock-based compensation		—			—			—		—			888			—		—			—			888
Other comprehensive income (loss)		—			—			—		—			—			—		—			9,752			9,752
Balance as of June 30, 2014		28,133,501			7,758,653		$	29	$	8		$	724,519		$	25,466	$	(18,751	)	$	8,177		$	739,448
Balance as of January 1, 2015		34,469,650			6,940,048		$	36	$	7		$	834,538		$	35,144	$	(18,751	)	$	679		$	851,653
Net income (loss)		—			—			—		—			—			2,502		—			—			2,502
Exchange of B shares to A shares		2,366,406			(2,366,406	)		1		(1	)		—			—		—			—			—
Stock-based compensation, RSU and warrant expense		—			—			—		—			3,874			—		—			—			3,874
Treasury stock purchase		(30,000	)															(802	)					(802	)
Exercise of stock options		43,501											873											873
Other		—			—			—		—			(20	)		—		—			—			(20	)
Other comprehensive income (loss)		—			—			—		—			—			—		—			(601	)		(601	)
Balance as of June 30, 2015		36,849,557			4,573,642		$	37	$	6		$	839,265		$	37,646	$	(19,553	)	$	78		$	857,479

The accompanying notes are an integral part of these consolidated financial statements

6

FCB FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(Dollars in thousands)

	Six Months Ended June 30,
	2015			2014
Cash flows from operating activities:
Net income (loss)	$	2,502		$	12,694
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Provision for loan losses		3,819			4,326
Amortization of intangible assets		831			859
Depreciation and amortization of premises and equipment		1,940			1,871
Amortization of discount on loans		(1,833	)		(1,629	)
Net amortization (accretion) of premium (discount) on investment securities		1,094			1,113
Net amortization (accretion) of premium (discount) on time deposits		(258	)		(837	)
Net amortization (accretion) on FHLB advances and other borrowings		(1,292	)		(554	)
Impairment of other real estate owned		173			732
FDIC loss share indemnification loss		65,529			10,239
(Gain) loss on investment securities		(1,768	)		(6,943	)
(Gain) loss on sale of loans		—			(562	)
(Gain) loss on sale of other real estate owned		(7,170	)		(72	)
(Gain) loss on sale of premises and equipment		112			18
Deferred tax expense		(30,386	)		—
Stock-based compensation and warrant expense		3,442			888
Increase in cash surrender value of BOLI		(2,194	)		(1,856	)
Net change in operating assets and liabilities:
Net change in loans held for sale		(4,075	)		(1,492	)
Collection from FDIC on loss share indemnification asset		—			5,597
Settlement of FDIC loss share agreement		(14,815	)		—
Net change in other assets		(3,021	)		(8,669	)
Net change in other liabilities		(5,741	)		6,971
Net cash provided by (used in) operating activities		6,889			22,694
Cash Flows From Investing Activities:
Purchase of investment securities available for sale		(462,125	)		(840,453	)
Sales of investment securities available for sale		318,927			515,359
Paydown and maturities of investment securities held to maturity		—			372
Paydown and maturities of investment securities available for sale		76,680			87,104
Purchase of FHLB and other bank stock		(36,852	)		(39,785	)
Sales of FHLB and other bank stock		33,238			19,644
Net cash paid in acquisition		—			(14,073	)
Net change in loans		(369,060	)		(419,417	)
Purchase of loans		(241,727	)		(72,504	)
Proceeds from sale of loans		—			23,329
Purchase of bank-owned life insurance		—			(40,000	)
Proceeds from sale of other real estate owned		53,705			20,988
Purchase of premises and equipment		(731	)		(443	)
Proceeds from life insurance		1,193			—
Net cash provided by (used in) investing activities		(626,752	)		(759,879	)
Cash Flows From Financing Activities:
Net change in deposits		487,810			301,594
Net change in FHLB advances and other borrowings		109,414			328,485
Net change in repurchase agreements		56,790			(1,166	)
Repurchase of stock		(802	)		—
Exercise of stock options		873			—
Other financing costs		(21	)		(335	)
Net cash provided by (used in) financing activities		654,064			628,578
Net Change in Cash and Cash Equivalents		34,201			(108,607	)
Cash and Cash Equivalents at Beginning of Period		107,085			239,217
Cash and Cash Equivalents at End of Period	$	141,286		$	130,610
Supplemental Disclosures of Cash Flow Information:
Interest paid	$	13,768		$	13,191
Income taxes paid		4,786			5,816
Supplemental disclosure of noncash investing and financing activities:
Transfer of loans to other real estate owned	$	14,835		$	12,869
Fair value of assets acquired		—			957,324
Goodwill recorded		—			47,355
Liabilities assumed		—			962,194
Securities purchased not settled		5,020			41,601
Securities sold not settled		430			—

The accompanying notes are an integral part of these consolidated financial statements

7

FCB FINANCIAL HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

General

The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all information and notes to the consolidated financial statements necessary for a complete presentation of financial position, results of operations, comprehensive income and cash flows in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and should be read in conjunction with the audited consolidated financial statements and the notes thereto for FCB Financial Holdings, Inc. (the “Company”) previously filed with the SEC in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation have been included. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period.

Nature of Operations

FCB Financial Holdings, Inc., formerly known as Bond Street Holdings, Inc., is a national bank holding company with one wholly-owned national bank subsidiary, Florida Community Bank, N.A. (“Florida Community Bank” or the “Bank”), headquartered in Weston, Florida, offering a comprehensive range of traditional banking products and services to individual and corporate customers through 48 banking centers located in Florida at June 30, 2015.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiary, the Bank, and the Bank’s subsidiaries, which consist of a group of real estate holding companies. Intercompany transactions and balances have been eliminated in consolidation.

Use of Estimates

The Company’s financial reporting and accounting policies conform to U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Material estimates subject to significant change include the allowance for loan losses, valuation of and accounting for loans covered by loss sharing arrangements with the Federal Deposit Insurance Corporation (“FDIC”) and the related loss share receivable, valuation of and accounting for acquired loans, the carrying value of OREO, the fair value of financial instruments, the valuation of goodwill and other intangible assets, contingent consideration liabilities, acquisition-related fair value computations, stock-based compensation and deferred taxes.

Reclassifications

In certain instances, amounts reported in prior periods consolidated financial statements have been reclassified to conform to the current period presentation. Such reclassifications had no effect on previously reported net income or total stockholders’ equity.

For the 2014 Consolidated Statements of Cash Flows, the Company reclassified $41.6 million to investing activities from operating activities related to the settlement of investment securities and $14.7 million to operating activities from investing activities related to accretion income on acquired loans. In addition, the Company reclassified cash collections of $5.6 million from the FDIC on loss share indemnification assets from investing activities to operating activities.

8

Recently Adopted Accounting Pronouncements

In July 2013, the FASB issued ASU No. 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” to provide guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists thereby reducing diversity in practice. The amendments in this update became effective for the first quarter ended March 31, 2015. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

Recently Issued Accounting Pronouncements

Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards affecting public companies. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to use the extended transition period provided in Section 7(a)(2)(B) of the Securities Act until the earlier of the date we (i) are no longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in Section 7(a)(2)(B).

In February 2015, the FASB issued ASU No. 2015-02, “Amendments to the Consolidated Analysis (ASC 810, Consolidation)” which amends the consolidation requirements of ASC 810 by reducing the number of consolidation models. The guidance places more emphasis on risk of loss when determining a controlling financial interest; reduces the frequency of the application of related-party guidance when determining a controlling financial interest and changes the consolidation requirements of limited partnerships. For public entities, this guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. For all other entities, including emerging growth companies, the amendments in this Update are effective for fiscal years beginning after December 15, 2016, and for interim periods within fiscal years beginning after December 15, 2017. A reporting entity may apply the amendments in this ASU using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption or may apply the amendments retrospectively. The Company is currently evaluating this guidance to determine the impact on its consolidated financial position, results of operations and cash flows but does not expect the adoption of this ASU to have a material impact on our consolidated financial statements.

In January 2015, the FASB issued ASU No. 2015-01, “Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items (ASC 225-20, Extraordinary and Unusual Items)” which eliminates the concept of extraordinary items. The amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 for all entities. Under the ASU, extraordinary items will no longer be segregated from the results of ordinary operations and presented separately on the consolidated financial statements. The amendments may be applied prospectively or retrospectively to all prior periods. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements.

9

NOTE 2. INVESTMENT SECURITIES

The amortized cost, gross unrealized gains and losses and approximate fair values of securities available for sale are as follows:

	Amortized Cost		Unrealized				Fair Value
June 30, 2015			Gains		Losses
	(Dollars in thousands)
Available for sale:
U.S. Government agencies and sponsored enterprises obligations	$	5,306	$	98	$	—	$	5,404
U.S. Government agencies and sponsored enterprises mortgage-backed securities		375,061		3,743		522		378,282
State and municipal obligations		2,040		190		—		2,230
Asset-backed securities		456,912		2,438		1,612		457,738
Corporate bonds and other debt securities		419,553		2,786		5,078		417,261
Preferred stock and other equity securities		171,150		343		2,259		169,234
Total available for sale	$	1,430,022	$	9,598	$	9,471	$	1,430,149

	Amortized Cost		Unrealized				Fair Value
December 31, 2014			Gains		Losses
	(Dollars in thousands)
Available for sale:
U.S. Government agencies and sponsored enterprises obligations	$	6,078	$	18	$	—	$	6,096
U.S. Government agencies and sponsored enterprises mortgage-backed securities		497,384		5,172		904		501,652
State and municipal obligations		2,039		238		—		2,277
Asset-backed securities		482,969		1,424		6,192		478,201
Corporate bonds and other debt securities		256,155		3,024		496		258,683
Preferred stock and other equity securities		113,367		261		1,439		112,189
Total available for sale	$	1,357,992	$	10,137	$	9,031	$	1,359,098

As part of the Company’s liquidity management strategy, the Company pledges loans and securities to secure borrowings from the FHLB. The Company also pledges securities to collateralize public deposits. The carrying value of all pledged securities totaled $761.8 million and $685.3 million at June 30, 2015 and December 31, 2014, respectively.

10

The amortized cost and estimated fair value of securities available for sale, by contractual maturity, are as follows:

June 30, 2015	Amortized Cost		Fair Value
	(Dollars in thousands)
Available for sale:
Due in one year or less	$	—	$	—
Due after one year through five years		81,627		81,677
Due after five years through ten years		73,077		72,375
Due after ten years		266,889		265,439
U.S. Government agencies and sponsored enterprises obligations, mortgage-backed securities and asset-backed securities		837,279		841,424
Preferred stock and other equity securities		171,150		169,234
Total available for sale	$	1,430,022	$	1,430,149

For purposes of the maturity table, U.S Government agencies and sponsored enterprises obligations, agency mortgage-backed securities and asset-backed securities, the principal of which are repaid periodically, are presented as a single amount. The expected lives of these securities will differ from contractual maturities because borrowers may have the right to prepay the underlying loans with or without prepayment penalties.

The following tables present the estimated fair values and gross unrealized losses on investment securities available for sale, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position as of the periods presented:

	Less than 12 Months				12 Months or More				Total
June 30, 2015	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
	(Dollars in thousands)
Available for sale:
U.S. Government agencies and sponsored enterprises obligations	$	—	$	—	$	—	$	—	$	—	$	—
U.S. Government agencies and sponsored enterprises mortgage-backed securities		37,102		292		14,510		230		51,612		522
State and municipal obligations		—		—		—		—		—		—
Asset-backed securities		106,790		396		87,596		1,216		194,386		1,612
Corporate bonds and other debt securities		269,281		5,078		—		—		269,281		5,078
Preferred stock and other equity securities		126,072		2,044		9,788		215		135,860		2,259
Total available for sale	$	539,245	$	7,810	$	111,894	$	1,661	$	651,139	$	9,471

	Less than 12 Months				12 Months or More				Total
December 31, 2014	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
	(Dollars in thousands)
Available for sale:
U.S. Government agencies and sponsored enterprises obligations	$	—	$	—	$	—	$	—	$	—	$	—
U.S. Government agencies and sponsored enterprises mortgage-backed securities		71,539		330		43,090		574		114,629		904
State and municipal obligations		—		—		—		—		—		—
Asset-backed securities		337,123		5,143		31,898		1,049		369,021		6,192
Corporate bonds and other debt securities		78,487		496		—		—		78,487		496
Preferred stock and other equity securities		53,064		737		10,606		702		63,670		1,439
Total available for sale	$	540,213	$	6,706	$	85,594	$	2,325	$	625,807	$	9,031

11

At June 30, 2015, the Company’s security portfolio consisted of 287 securities, of which 118 securities were in an unrealized loss position. A total of 92 were in an unrealized loss position for less than 12 months. The unrealized losses for these securities resulted primarily from changes in interest rates. All securities available for sale at June 30, 2015 and December 31, 2014 were investment grade based on ratings from recognized rating agencies.

The Company monitors its investment securities for other-than-temporary impairment (“OTTI”). Impairment is evaluated on an individual security basis considering numerous factors, with the relative significance varying by situation. The Company has evaluated the nature of unrealized losses in the investment securities portfolio to determine if OTTI exists. The unrealized losses relate to changes in market interest rates and specific market conditions that do not represent credit-related impairments. Furthermore, the Company does not intend to sell nor is it more likely than not that it will be required to sell these investments before the recovery of their amortized cost basis. Management has completed an assessment of each security in an unrealized loss position for credit impairment, including securities with existing characteristics that are covered under the Volcker Rule, and has determined that no individual security was other-than-temporarily impaired at June 30, 2015. The following describes the basis under which the Company has evaluated OTTI:

U.S. Government Agencies and Sponsored Enterprises Obligations and Agency Mortgage-Backed Securities (“MBS”):

The unrealized losses associated with U.S. Government agencies and sponsored enterprises obligations and agency MBS are primarily driven by changes in interest rates. These securities have either an explicit or implicit U.S. government guarantee.

Corporate Bonds and Asset Backed Securities:

Securities were generally underwritten in accordance with the Company’s investment standards prior to the decision to purchase, without relying on a bond issuer’s guarantee in making the investment decision. These investments are investment grade and will continue to be monitored as part of the Company’s ongoing impairment analysis, but are expected to perform in accordance with their terms.

Preferred Stock and Other Equity Investments:

The unrealized losses associated with preferred stock and other equity investments in large U.S. financial institutions are primarily driven by changes in interest rates. These securities were generally underwritten in accordance with the Company’s investment standards prior to the decision to purchase. These investments are investment grade and will continue to be monitored as part of the Company’s ongoing impairment analysis, but are expected to perform in accordance with their terms.

Gross realized gains and losses on the sale of securities available for sale are shown below. The cost of securities sold is based on the specific identification method.

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(Dollars in thousands)
Gross realized gains	$	849		$	5,203		$	1,961		$	7,897
Gross realized losses		(844	)		(824	)		(913	)		(1,012	)
Net realized gains (losses)	$	5		$	4,379		$	1,048		$	6,885

NOTE 3. LOANS, NET

The Company’s loan portfolio consists of new and acquired loans. The Company classifies originated loans and purchased loans not acquired through business combinations as New loans. The Company classifies loans acquired through business combinations as acquired loans. The acquired loan portfolio is segmented into “Covered Loans”, loans subject to loss sharing with the FDIC, and “Non-Covered Loans”, acquired loans without loss share reimbursement. Additionally, the New loan portfolio is classified as “Non-Covered Loans”. A portion of the acquired loan portfolio, both Covered and Non-Covered Loans, exhibited evidence of deterioration in credit quality since origination, and are accounted for under ASC 310-30. The remaining portfolio of acquired loans consists of loans that were not considered ASC 310-30 loans at acquisition and are classified as Non-ASC 310-30 loans.

12

On March 4, 2015, the Bank entered into an agreement with the FDIC to terminate all loss sharing agreements which were entered into in 2010 and 2011 in conjunction with the Bank’s acquisition of substantially all of the assets (“covered assets”) and assumption of substantially all of the liabilities of six failed banks in FDIC-assisted acquisitions. Under the early termination, all rights and obligations of the Bank and the FDIC under the loss share agreements, including the clawback provisions, have been eliminated.

The following tables summarize the Company’s loans by portfolio segment as of the periods presented, net of deferred fees, costs, and premium and discount:

	Covered Loans				Non-Covered Loans
June 30, 2015	ASC 310-30 Loans		Non-ASC 310-30 Loans		ASC 310-30 Loans		Non-ASC 310-30 Loans		New Loans (1)		Total
	(Dollars in thousands)
Real estate loans:
Commercial real estate	$	—	$	—	$	286,337	$	62,473	$	942,424	$	1,291,234
Owner-occupied commercial real estate		—		—		—		19,860		400,438		420,298
1-4 single family residential		—		—		76,849		86,754		1,248,625		1,412,228
Construction, land and development		—		—		55,453		8,610		349,659		413,722
Home equity loans and lines of credit		—		—		—		52,971		22,798		75,769
Total real estate loans	$	—	$	—	$	418,639	$	230,668	$	2,963,944	$	3,613,251
Other loans:
Commercial and industrial	$	—	$	—	$	58,045	$	9,654	$	837,270	$	904,969
Consumer		—		—		2,524		645		6,333		9,502
Total other loans		—		—		60,569		10,299		843,603		914,471
Total loans held in portfolio	$	—	$	—	$	479,208	$	240,967	$	3,807,547	$	4,527,722
Allowance for loan losses												(27,046	)
Loans held in portfolio, net											$	4,500,676
	Covered Loans				Non-Covered Loans
December 31, 2014	ASC 310-30 Loans		Non-ASC 310-30 Loans		ASC 310-30 Loans		Non-ASC 310-30 Loans		New Loans (1)		Total
	(Dollars in thousands)
Real estate loans:
Commercial real estate	$	155,050	$	6,202	$	181,885	$	63,944	$	853,074	$	1,260,155
Owner-occupied commercial real estate		—		2,411		—		12,431		281,703		296,545
1-4 single family residential		34,297		7,286		52,011		94,993		922,657		1,111,244
Construction, land and development		19,903		—		46,797		9,729		232,601		309,030
Home equity loans and lines of credit		—		10,785		—		43,919		11,826		66,530
Total real estate loans	$	209,250	$	26,684	$	280,693	$	225,016	$	2,301,861	$	3,043,504
Other loans:
Commercial and industrial	$	32,531	$	4,308	$	34,967	$	9,240	$	795,000	$	876,046
Consumer		557		36		2,246		645		6,556		10,040
Total other loans		33,088		4,344		37,213		9,885		801,556		886,086
Total loans held in portfolio	$	242,338	$	31,028	$	317,906	$	234,901	$	3,103,417	$	3,929,590
Allowance for loan losses												(22,880	)
Loans held in portfolio, net											$	3,906,710

(1) Balance includes $(5.6) million and $3.6 million of deferred fees, costs, and premium and discount as of June 30, 2015 and December 31, 2014, respectively.

13

At June 30, 2015 and December 31, 2014, the unpaid principal balances (“UPB”) of ASC 310-30 loans were $620.0 million and $725.9 million, respectively. At June 30, 2015 and December 31, 2014, the Company had pledged loans as collateral for FHLB advances of $1.83 billion and $1.63 billion, respectively. The recorded investments of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process as of June 30, 2015 totaled $10.3 million. The Company held $438.5 million and $445.6 million of syndicated national loans as of June 30, 2015 and December 31, 2014, respectively.

During the three and six months ended June 30, 2015, the Company purchased approximately $144.0 million and $233.6 million, respectively, in residential mortgage loans from third parties. During the three and six months ended June 30, 2014, the Company purchased approximately $71.2 million in residential mortgage loans from third parties.

During the three and six months ended June 30, 2015, the Company sold approximately $11.6 million and $19.5 million, respectively, in loans to third parties. During the three and six months ended June 30, 2014, the Company sold approximately $26.2 million and $28.9 million, respectively, in loans to third parties.

The accretable discount on ASC 310-30 loan pools represents the amount by which the undiscounted expected cash flows on such pools exceed its carrying value. The increase in expected cash flows for certain ASC 310-30 loan pools resulted in the reclassification of $9.8 million and $13.0 million in non-accretable difference to accretable discount during the six months ended June 30, 2015 and 2014, respectively.

Changes in accretable discount for ASC 310-30 loans for the six months ended June 30, 2015 and 2014 were as follows:

	Six Months Ended June 30,
	2015			2014
	(Dollars in thousands)
Balance at January 1,	$	156,197		$	148,501
Additions to accretable discount from GFB acquisition		—			40,444
Accretion		(23,667	)		(31,231	)
Reclassifications from non-accretable difference		9,760			13,030
Balance at June 30,	$	142,290		$	170,744

NOTE 4. ALLOWANCE FOR LOAN LOSSES

The Company’s accounting method for loans and the corresponding allowance for loan losses (“ALL”) differs depending on whether the loans are New or Acquired. The Company assesses and monitors credit risk and portfolio performance using distinct methodologies for Acquired loans, both ASC 310-30 Loans and Non-ASC 310-30 Loans, and New loans. Within each of these portfolios, the Company further disaggregates the portfolios into the following segments: Commercial real estate, Owner-occupied commercial real estate, 1-4 single family residential, Construction, land and development, Home equity loans and lines of credit, Commercial and industrial and Consumer. The ALL reflects management’s estimate of probable credit losses inherent in each of the segments.

14

Changes in the ALL by loan class and portfolio segment for the three and six months ended June 30, 2015 and 2014 are as follows:

	Commercial Real Estate			Owner- Occupied Commercial Real Estate			1- 4 Single Family Residential			Construction, Land and Development			Home Equity Loans and Lines of Credit			Commercial and Industrial			Consumer			Total
	(Dollars in thousands)
Balance at April 1, 2015	$	9,296		$	1,252		$	5,213		$	2,312		$	398		$	5,705		$	337		$	24,513
Provision (credit) for ASC 310-30 loans		(784	)		—			(63	)		(178	)		—			143			115			(767	)
Provision for non-ASC 310-30 loans		848			(7	)		(7	)		(12	)		143			(11	)		(1	)		953
Provision for New loans		383			303			755			633			22			183			5			2,284
Total provision		447			296			685			443			165			315			119			2,470
Charge-offs for ASC 310-30 loans		(109	)		—			(121	)		—			—			(45	)		—			(275	)
Charge-offs for non-ASC 310-30 loans		—			—			(63	)		—			—			—			—			(63	)
Charge-offs for New loans		—			—			—			—			—			—			—			—
Total charge-offs		(109	)		—			(184	)		—			—			(45	)		—			(338	)
Recoveries for ASC 310-30 loans		18			—			30			269			—			82			—			399
Recoveries for non-ASC 310-30 loans		—			—			—			—			—			—			—			—
Recoveries for New loans		—			—			—			—			—			2			—			2
Total recoveries		18			—			30			269			—			84			—			401
Ending ALL balance
ASC 310-30 loans		2,585			—			270			793			—			1,133			387			5,168
Non-ASC 310-30 loans		1,375			54			335			56			432			41			6			2,299
New loans		5,692			1,494			5,139			2,175			131			4,885			63			19,579
Balance at June 30, 2015	$	9,652		$	1,548		$	5,744		$	3,024		$	563		$	6,059		$	456		$	27,046
	Commercial Real Estate			Owner- Occupied Commercial Real Estate			1- 4 Single Family Residential			Construction, Land and Development			Home Equity Loans and Lines of Credit			Commercial and Industrial			Consumer			Total
	(Dollars in thousands)
Balance at April 1, 2014	$	5,088		$	435		$	1,587		$	1,900		$	151		$	5,977		$	356		$	15,494
Provision (credit) for ASC 310-30 loans		191			—			212			(31	)		—			(539	)		(34	)		(201	)
Provision for non-ASC 310-30 loans		2			2			(45	)		—			89			16			32			96
Provision for New loans		982			369			702			499			(65	)		849			5			3,341
Total provision		1,175			371			869			468			24			326			3			3,236
Charge-offs for ASC 310-30 loans		—			—			(30	)		(444	)		—			(32	)		(4	)		(510	)
Charge-offs for non-ASC 310-30 loans		—			—			—			—			(62	)		—			(29	)		(91	)
Charge-offs for New loans		—			—			—			—			—			(348	)		—			(348	)
Total charge-offs		—			—			(30	)		(444	)		(62	)		(380	)		(33	)		(949	)
Recoveries for ASC 310-30 loans		91			—			—			11			—			1			—			103
Recoveries for non-ASC 310-30 loans		—			—			—			—			—			—			—			—
Recoveries for New loans		—			—			—			—			—			—			—			—
Total recoveries		91			—			—			11			—			1			—			103
Ending ALL balance
ASC 310-30 loans		2,883			—			207			660			—			1,359			298			5,407
Non-ASC 310-30 loans		8			7			7			—			32			6			3			63
New loans		3,463			799			2,212			1,275			81			4,559			25			12,414
Balance at June 30, 2014	$	6,354		$	806		$	2,426		$	1,935		$	113		$	5,924		$	326		$	17,884

15

	Commercial Real Estate			Owner- Occupied Commercial Real Estate			1- 4 Single Family Residential			Construction, Land and Development			Home Equity Loans and Lines of Credit			Commercial and Industrial			Consumer			Total
	(Dollars in thousands)
Balance at January 1, 2015	$	8,206		$	1,020		$	4,740		$	2,456		$	355		$	5,745		$	358		$	22,880
Provision (credit) for ASC 310-30 loans		(865	)		—			1			(198	)		—			119			157			(786	)
Provision (credit) for non-ASC 310-30 loans		880			(4	)		49			(19	)		147			(8	)		—			1,045
Provision (credit) for New loans		1,236			532			1,138			452			61			140			1			3,560
Total provision		1,251			528			1,188			235			208			251			158			3,819
Charge-offs for ASC 310-30 loans		(205	)		—			(207	)		(56	)		—			(75	)		(60	)		(603	)
Charge-offs for non-ASC 310-30 loans		—			—			(128	)		—			—			—			—			(128	)
Charge-offs for New loans		—			—			—			—			—			—			—			—
Total charge-offs		(205	)		—			(335	)		(56	)		—			(75	)		(60	)		(731	)
Recoveries for ASC 310-30 loans		400			—			151			389			—			131			—			1,071
Recoveries for non-ASC 310-30 loans		—			—			—			—			—			—			—			—
Recoveries for New loans		—			—			—			—			—			7			—			7
Total recoveries		400			—			151			389			—			138			—			1,078
Ending ALL balance
ASC 310-30 loans		2,585			—			270			793			—			1,133			387			5,168
Non-ASC 310-30 loans		1,375			54			335			56			432			41			6			2,299
New loans		5,692			1,494			5,139			2,175			131			4,885			63			19,579
Balance at June 30, 2015	$	9,652		$	1,548		$	5,744		$	3,024		$	563		$	6,059		$	456		$	27,046
	Commercial Real Estate			Owner- Occupied Commercial Real Estate			1- 4 Single Family Residential			Construction, Land and Development			Home Equity Loans and Lines of Credit			Commercial and Industrial			Consumer			Total
	(Dollars in thousands)
Balance at January 1, 2014	$	4,458		$	376		$	1,443		$	1,819		$	265		$	6,198		$	174		$	14,733
Provision (credit) for ASC 310-30 loans		191			—			152			133			—			(871	)		232			(163	)
Provision (credit) for non-ASC 310-30 loans		3			2			(45	)		—			(4	)		24			32			12
Provision (credit) for New loans		1,685			428			906			441			(45	)		1,054			8			4,477
Total provision		1,879			430			1,013			574			(49	)		207			272			4,326
Charge-offs for ASC 310-30 loans		(74	)		—			(30	)		(1,245	)		—			(110	)		(91	)		(1,550	)
Charge-offs for non-ASC 310-30 loans		—			—			—			—			(103	)		(24	)		(29	)		(156	)
Charge-offs for New loans		—			—			—			—			—			(348	)		—			(348	)
Total charge-offs		(74	)		—			(30	)		(1,245	)		(103	)		(482	)		(120	)		(2,054	)
Recoveries for ASC 310-30 loans		91			—			—			787			—			1			—			879
Recoveries for non-ASC 310-30 loans		—			—			—			—			—			—			—			—
Recoveries for New loans		—			—			—			—			—			—			—			—
Total recoveries		91			—			—			787			—			1			—			879
Ending ALL balance
ASC 310-30 loans		2,883			—			207			660			—			1,359			298			5,407
Non-ASC 310-30 loans		8			7			7			—			32			6			3			63
New loans		3,463			799			2,212			1,275			81			4,559			25			12,414
Balance at June 30, 2014	$	6,354		$	806		$	2,426		$	1,935		$	113		$	5,924		$	326		$	17,884

Credit Quality Indicators

In evaluating credit risk, the Company looks at multiple factors; however, management considers delinquency status to be the most meaningful indicator of the credit quality of 1-4 single family residential, home equity loans and lines of credit and consumer loans. Delinquency statistics are updated at least monthly.

16

The following tables present an aging analysis of the recorded investment for delinquent loans by portfolio and segment (excluding loans accounted for under ASC 310-30):

	Accruing
June 30, 2015	30 to 59 Days Past Due		60 to 89 Days Past Due		90 Days or More Past Due		Non- Accrual		Total
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	—	$	—	$	—	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—		—
1-4 single family residential		—		—		—		—		—
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		—		—		—		—		—
Total real estate loans		—		—		—		—		—
Other loans:
Commercial and industrial		—		—		—		14		14
Consumer		—		—		—		—		—
Total other loans		—		—		—		14		14
Total new loans	$	—	$	—	$	—	$	14	$	14
Acquired loans:
Real estate loans:
Commercial real estate	$	—	$	—	$	—	$	4,865	$	4,865
Owner-occupied commercial real estate		—		—		—		5		5
1-4 single family residential		—		—		—		1,649		1,649
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		153		288		—		2,806		3,247
Total real estate loans		153		288		—		9,325		9,766
Other loans:
Commercial and industrial		—		—		—		736		736
Consumer		—		—		—		—		—
Total other loans		—		—		—		736		736
Total acquired loans	$	153	$	288	$	—	$	10,061	$	10,502

17

	Accruing
December 31, 2014	30 to 59 Days Past Due		60 to 89 Days Past Due		90 Days or More Past Due		Non- Accrual		Total
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	—	$	—	$	—	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—		—
1-4 single family residential		6,206		727		—		116		7,049
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		—		—		—		—		—
Total real estate loans		6,206		727		—		116		7,049
Other loans:
Commercial and industrial		—		—		—		—		—
Consumer		—		—		—		—		—
Total other loans		—		—		—		—		—
Total new loans	$	6,206	$	727	$	—	$	116	$	7,049
Acquired Loans:
Real estate loans:
Commercial real estate	$	—	$	—	$	—	$	4,866	$	4,866
Owner-occupied commercial real estate		—		—		—		211		211
1-4 single family residential		1,877		86		—		1,766		3,729
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		384		456		—		3,005		3,845
Total real estate loans		2,261		542		—		9,848		12,651
Other loans:
Commercial and industrial		—		192		—		1,222		1,414
Consumer		14		—		—		—		14
Total other loans		14		192		—		1,222		1,428
Total acquired loans	$	2,275	$	734	$	—	$	11,070	$	14,079

Internal risk ratings are considered the most meaningful indicator of credit quality for Non-ASC 310-30 and New commercial, construction, land and development and commercial real estate loans. Internal risk ratings are updated on a continuous basis. Loans exhibiting potential credit weaknesses that deserve management’s close attention and that if left uncorrected may result in deterioration of the repayment capacity of the borrower are categorized as special mention. Loans with well-defined credit weaknesses including payment defaults, declining collateral values, frequent overdrafts, operating losses, increasing balance sheet leverage, inadequate cash flow, project cost overruns, unreasonable construction delays, past due real estate taxes or exhausted interest reserves are assigned an internal risk rating of substandard. A loan with a weakness so severe that collection in full is highly questionable or improbable will be assigned an internal risk rating of doubtful.

18

The following table summarizes the Company’s Non-ASC 310-30 and New loans by key indicators of credit quality. Loans accounted for under ASC 310-30 are excluded from the following analysis because their related allowance is determined by loan pool performance:

June 30, 2015	Pass		Special Mention		Substandard		Doubtful
	(Dollars in thousands)
New loans:
Commercial real estate	$	942,394	$	—	$	30	$	—
Owner-occupied commercial real estate		400,438		—		—		—
Construction, land and development		349,659		—		—		—
Commercial and industrial		837,256		—		14		—
Total new loans	$	2,529,747	$	—	$	44	$	—
Acquired loans:
Commercial real estate	$	57,126	$	102	$	5,245	$	—
Owner-occupied commercial real estate		19,662		96		102		—
Construction, land and development		8,610		—		—		—
Commercial and industrial		6,886		1,718		1,050		—
Total acquired loans	$	92,284	$	1,916	$	6,397	$	—
December 31, 2014	Pass		Special Mention		Substandard		Doubtful
	(Dollars in thousands)
New loans:
Commercial real estate	$	853,044	$	—	$	30	$	—
Owner-occupied commercial real estate		281,703		—		—		—
Construction, land and development		232,601		—		—		—
Commercial and industrial		795,000		—		—		—
Total new loans	$	2,162,348	$	—	$	30	$	—
Acquired loans:
Commercial real estate	$	65,173	$	107	$	4,866	$	—
Owner-occupied commercial real estate		13,822		421		599		—
Construction, land and development		9,729		—		—		—
Commercial and industrial		9,184		2,147		2,217		—
Total acquired loans	$	97,908	$	2,675	$	7,682	$	—

Internal risk ratings are a key factor in identifying loans to be individually evaluated for impairment and impact management’s estimates of loss factors used in determining the amount of the ALL.

19

The following table shows the Company’s investment in loans disaggregated based on the method of evaluating impairment:

	Loans - Recorded Investment						Allowance for Credit Loss
June 30, 2015	Individually Evaluated for Impairment		Collectively Evaluated for Impairment		ASC 310- 30 Loans		Individually Evaluated for Impairment		Collectively Evaluated for Impairment		ASC 310- 30 Loans
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	—	$	942,424	$	—	$	—	$	5,692	$	—
Owner-occupied commercial real estate		—		400,438		—		—		1,494		—
1-4 single family residential		—		1,248,625		—		—		5,139		—
Construction, land and development		—		349,659		—		—		2,175		—
Home equity loans and lines of credit		—		22,798		—		—		131		—
Total real estate loans	$	—	$	2,963,944	$	—	$	—	$	14,631	$	—
Other loans
Commercial and industrial	$	—	$	837,270	$	—	$	—	$	4,885	$	—
Consumer		—		6,333		—		—		63		—
Total other loans	$	—	$	843,603	$	—	$	—	$	4,948	$	—
Acquired loans:
Real estate loans:
Commercial real estate	$	4,755	$	57,718	$	286,337	$	1,028	$	347	$	2,585
Owner-occupied commercial real estate		—		19,860		—		—		54		—
1-4 single family residential		—		86,754		76,849		—		335		270
Construction, land and development		—		8,610		55,453		—		56		793
Home equity loans and lines of credit		955		52,016		—		177		255		—
Total real estate loans	$	5,710	$	224,958	$	418,639	$	1,205	$	1,047	$	3,648
Other loans
Commercial and industrial	$	552	$	9,102	$	58,045	$	—	$	41	$	1,133
Consumer		—		645		2,524		—		6		387
Total other loans	$	552	$	9,747	$	60,569	$	—	$	47	$	1,520

20

	Loans - Recorded Investment						Allowance for Credit Loss
December 31, 2014	Individually Evaluated for Impairment		Collectively Evaluated for Impairment		ASC 310- 30 Loans		Individually Evaluated for Impairment		Collectively Evaluated for Impairment		ASC 310- 30 Loans
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	—	$	853,074	$	—	$	—	$	4,456	$	—
Owner-occupied commercial real estate		—		281,703		—		—		962		—
1-4 single family residential		—		922,657		—		—		4,001		—
Construction, land and development		—		232,601		—		—		1,723		—
Home equity loans and lines of credit		—		11,826		—		—		70		—
Total real estate loans	$	—	$	2,301,861	$	—	$	—	$	11,212	$	—
Other loans
Commercial and industrial	$	—	$	795,000	$	—	$	—	$	4,738	$	—
Consumer		—		6,556		—		—		62		—
Total other loans	$	—	$	801,556	$	—	$	—	$	4,800	$	—
Acquired Loans:
Real estate loans:
Commercial real estate	$	4,754	$	65,392	$	336,935	$	174	$	321	$	3,255
Owner-occupied commercial real estate		—		14,842		—		—		58		—
1-4 single family residential		—		102,279		86,308		—		414		325
Construction, land and development		—		9,729		66,700		—		75		658
Home equity loans and lines of credit		—		54,704		—		—		285		—
Total real estate loans	$	4,754	$	246,946	$	489,943	$	174	$	1,153	$	4,238
Other loans
Commercial and industrial	$	—	$	13,548	$	67,498	$	—	$	49	$	958
Consumer		—		681		2,803		—		6		290
Total other loans	$	—	$	14,229	$	70,301	$	—	$	55	$	1,248

21

The following tables set forth certain information regarding the Company’s impaired loans (excluding loans accounted for under ASC 310-30) that were evaluated for specific reserves:

	Impaired Loans - With Allowance						Impaired Loans - With no Allowance
June 30, 2015	Recorded Investment		Unpaid Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	—	$	—	$	—	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—		—
1-4 single family residential		—		—		—		—		—
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		—		—		—		—		—
Total real estate loans	$	—	$	—	$	—	$	—	$	—
Other loans
Commercial and industrial	$	—	$	—	$	—	$	—	$	—
Consumer		—		—		—		—		—
Total other loans	$	—	$	—	$	—	$	—	$	—
Acquired loans:
Real estate loans:
Commercial real estate	$	4,755	$	5,051	$	1,028	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—		—
1-4 single family residential		—		—		—		—		—
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		426		494		177		529		548
Total real estate loans	$	5,181	$	5,545	$	1,205	$	529	$	548
Other loans
Commercial and industrial	$	—	$	—	$	—	$	552	$	748
Consumer		—		—		—		—		—
Total other loans	$	—	$	—	$	—	$	552	$	748

22

	Impaired Loans - With Allowance						Impaired Loans - With no Allowance
December 31, 2014	Recorded Investment		Unpaid Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	—	$	—	$	—	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—		—
1-4 single family residential		—		—		—		—		—
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		—		—		—		—		—
Total real estate loans	$	—	$	—	$	—	$	—	$	—
Other loans
Commercial and industrial	$	—	$	—	$	—	$	—	$	—
Consumer		—		—		—		—		—
Total other loans	$	—	$	—	$	—	$	—	$	—
Acquired loans:
Real estate loans:
Commercial real estate	$	354	$	354	$	174	$	4,400	$	4,595
Owner-occupied commercial real estate		—		—		—		—		—
1-4 single family residential		—		—		—		—		—
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		—		—		—		—		—
Total real estate loans	$	354	$	354	$	174	$	4,400	$	4,595
Other loans
Commercial and industrial	$	—	$	—	$	—	$	—	$	—
Consumer		—		—		—		—		—
Total other loans	$	—	$	—	$	—	$	—	$	—

23

	Three Months Ended June 30,
	2015				2014
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
	(Dollars in thousands)
Impaired loans with no related allowance:
Real estate loans:
Commercial real estate	$	—	$	—	$	4,705	$	—
Owner-occupied commercial real estate		—		—		—		—
1-4 single family residential		—		—		—		—
Construction, land and development		—		—		—		—
Home equity loans and lines of credit		529		—		184		—
Total real estate loans	$	529	$	—	$	4,889	$	—
Other loans:
Commercial and industrial	$	556	$	—	$	—	$	—
Consumer		—		—		—		—
Total other loans	$	556	$	—	$	—	$	—
Impaired loans with an allowance:
Real estate loans:
Commercial real estate	$	4,825	$	—	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—
1-4 single family residential		—		—		—		—
Construction, land and development		—		—		—		—
Home equity loans and lines of credit		438		—		—		—
Total real estate loans	$	5,263	$	—	$	—	$	—
Other loans:
Commercial and industrial	$	—	$	—	$	—	$	—
Consumer		—		—		—		—
Total other loans	$	—	$	—	$	—	$	—

24

	Six Months Ended June 30,
	2015				2014
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
	(Dollars in thousands)
Impaired loans with no related allowance:
Real estate loans:
Commercial real estate	$	—	$	—	$	4,718	$	—
Owner-occupied commercial real estate		—		—		—		—
1-4 single family residential		—		—		—		—
Construction, land and development		—		—		—		—
Home equity loans and lines of credit		529		—		184		—
Total real estate loans	$	529	$	—	$	4,902	$	—
Other loans:
Commercial and industrial	$	540	$	—	$	—	$	—
Consumer		—		—		—		—
Total other loans	$	540	$	—	$	—	$	—
Impaired loans with an allowance:
Real estate loans:
Commercial real estate	$	4,899	$	—	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—
1-4 single family residential		—		—		—		—
Construction, land and development		—		—		—		—
Home equity loans and lines of credit		442		—		—		—
Total real estate loans	$	5,341	$	—	$	—	$	—
Other loans:
Commercial and industrial	$	—	$	—	$	—	$	—
Consumer		—		—		—		—
Total other loans	$	—	$	—	$	—	$	—

NOTE 5. COVERED ASSETS AND LOSS SHARING AGREEMENTS

On March 4, 2015, the Bank entered into an agreement with the FDIC to terminate all loss sharing agreements which were entered into in 2010 and 2011 in conjunction with the Bank’s acquisition of substantially all of the assets (“covered assets”) and assumption of substantially all of the liabilities of six failed banks in FDIC-assisted acquisitions. Under the early termination, all rights and obligations of the Bank and the FDIC under the loss share agreements, including the clawback provisions, have been eliminated.

The Bank paid the FDIC $14.8 million as consideration for the early termination to settle its obligation under the FDIC Clawback Liability. The early termination was recorded in the Bank’s financial statements by removing the FDIC Indemnification Asset receivable, the FDIC Clawback liability and recording a one-time, pre-tax loss on termination of $65.5 million.

25

The following table summarizes the carrying value of assets covered by the loss sharing agreements:

	June 30, 2015		December 31, 2014
	(Dollars in thousands)
Loans, excluding allowance for loan losses	$	—	$	273,366
OREO		—		25,130
Total Covered Assets	$	—	$	298,496

Subsequent to acquisition, when a provision for loan loss is required for a loan that is covered under a loss sharing agreement, the Company records an increase in the loss share indemnification asset and an increase to noninterest income in the consolidated statements of income based on the applicable loss sharing ratio. Increases in the loss share indemnification asset of $1.2 million were included in noninterest income for the six months ended June 30, 2014, related to the provision for loan losses on Covered Loans, including both ASC 310-30 and Non-ASC 310-30 loans.

Changes in the loss share indemnification asset for the periods presented were as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2015		2014			2015			2014
	(Dollars in thousands)
Balance at beginning of period	$	—	$	80,605		$	63,168		$	87,229
Termination of FDIC loss sharing agreements		—		—			(63,168	)		—
Reimbursable expenses		—		1,427			—			3,153
Amortization		—		(5,406	)		—			(11,405	)
Income resulting from impairment and charge-off of covered assets, net		—		456			—			1,206
Expense resulting from recoupment and disposition of covered assets, net		—		(1,260	)		—			(2,423	)
FDIC claims submissions		—		(969	)		—			(2,907	)
Balance at end of period	$	—	$	74,853		$	—		$	74,853

The following table summarizes the changes in the clawback liability, included in Other Liabilities, for the periods presented:

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015			2014
	(Dollars in thousands)
Balance at beginning of period	$	—	$	12,060	$	13,846		$	11,753
Termination of FDIC loss sharing agreements		—		—		(13,846	)		—
Amortization impact		—		181		—			357
Remeasurement impact		—		284		—			415
Balance at end of period	$	—	$	12,525	$	—		$	12,525

NOTE 6. DERIVATIVES

The Company is a party to interest rate derivatives that are not designated as hedging instruments. These derivatives are interest rate swaps that the Company enters into with customers to allow customers to convert variable rate loans to fixed rates. At the same time the interest rate swap is entered into with the customer, an offsetting interest rate swap is entered into with another financial institution. The changes in the fair value of the swaps offset each other, except for any differences in the credit risk of the counterparties, which is determined by considering the risk rating, probability of default and loss of given default of each counterparty. The Company recorded $1.1 million and $1.8 million of customer swap fees in noninterest income in the accompanying consolidated statements of income for the three months ended June 30, 2015 and 2014, respectively and $2.8 million and $2.2 million for the six months ended June 30, 2015 and 2014, respectively.

26

No derivative positions held by the Company as of June 30, 2015 were designated as hedging instruments under ASC 815-10. As of June 30, 2015, the Company has not recorded any credit adjustments related to the credit risk of the counterparties. There was no change in the fair value of derivative assets and derivative liabilities attributable to credit risk included in “Noninterest Expense” on the statements of income for the three or six months ended June 30, 2015 or 2014.

The following tables summarize the Company’s derivatives outstanding included in Other Assets and Other Liabilities in the accompanying consolidated balance sheets:

June 30, 2015	Derivative Assets				Derivative Liabilities
	Notional		Fair Value		Notional		Fair Value
	(Dollars in thousands)
Derivatives not designated as hedging instruments under ASC 815-10
Interest rate contracts - pay floating, receive fixed	$	562,618	$	15,387	$	27,338	$	125
Interest rate contracts - pay fixed, receive floating		—		—		589,956		15,262
Total derivatives	$	562,618	$	15,387	$	617,294	$	15,387

December 31, 2014	Derivative Assets				Derivative Liabilities
	Notional		Fair Value		Notional		Fair Value
	(Dollars in thousands)
Derivatives not designated as hedging instruments under ASC 815-10
Interest rate contracts - pay floating, receive fixed	$	464,890	$	14,328	$	8,298	$	39
Interest rate contracts - pay fixed, receive floating		—		—		473,188		14,289
Total derivatives	$	464,890	$	14,328	$	481,486	$	14,328

The derivative transactions entered into with a financial institution are subject to an enforceable master netting arrangement. The following table summarizes the gross and net fair values of the Company’s derivatives outstanding with this counterparty included in Other Liabilities in the accompanying consolidated balance sheets:

June 30, 2015	Gross amounts of recognized liabilities		Gross amounts offset in the consolidated balance sheets			Net amounts in the consolidated balance sheets
	(Dollars in thousands)
Offsetting derivative liabilities
Counterparty A - Interest rate contracts	$	15,387	$	(125	)	$	15,262
Total	$	15,387	$	(125	)	$	15,262

27

December 31, 2014	Gross amounts of recognized liabilities		Gross amounts offset in the consolidated balance sheets			Net amounts in the consolidated balance sheets
	(Dollars in thousands)
Offsetting derivative liabilities
Counterparty A - Interest rate contracts	$	14,328	$	(39	)	$	14,289
Total	$	14,328	$	(39	)	$	14,289

At June 30, 2015, the Company has pledged investment securities available for sale with a carrying amount of $23.4 million as collateral for the interest rate swaps in a liability position. The amount of collateral required to be posted by the Company varies based on the settlement value of outstanding swaps.

As of June 30, 2015 and December 31, 2014, substantially all of the floating rate terms within the interest rate swaps held by the Company were indexed to 1-month LIBOR.

The fair value of the derivative assets and liabilities are included in a table in Note 13 “Fair Value Measurements,” in the line items “Derivative assets” and “Derivative liabilities.”

NOTE 7. DEPOSITS

The following table sets forth the Company’s deposits by category:

	June 30, 2015		December 31, 2014
	(Dollars in thousands)
Noninterest-bearing demand deposits	$	621,845	$	593,025
Interest-bearing demand deposits		288,990		122,380
Interest-bearing NOW accounts		414,795		374,399
Savings and money market accounts		1,882,706		1,811,878
Time deposits		1,257,751		1,076,853
Total deposits	$	4,466,087	$	3,978,535
Time deposits $100,000 and greater	$	833,827	$	689,439
Time deposits greater than $250,000		289,424		226,895

The aggregate amount of overdraft demand deposits reclassified to loans was $836 thousand at June 30, 2015. The aggregate amount of maturities for time deposits for each of the five years as of June 30, 2015 totaled $799.2 million, $265.3 million, $152.9 million, $34.6 million and $5.6 million, respectively. The Company holds brokered deposits through an insured deposit sweep program of $384.5 million and $338.2 million at June 30, 2015 and December 31, 2014, respectively.

28

NOTE 8. ACCUMULATED OTHER COMPREHENSIVE INCOME

Changes in AOCI for the periods indicated are summarized as follows:

	Three Months Ended June 30,
	2015									2014
	Before Tax			Tax Effect			Net of Tax			Before Tax			Tax Effect			Net of Tax
	(Dollars in thousands)
Balance at beginning of period	$	17,178		$	(6,626	)	$	10,552		$	3,606		$	(1,390	)	$	2,216
Unrealized gain (loss) on investment securities available for sale:
Net unrealized holdings gain (loss) arising during the period		(15,868	)		6,121			(9,747	)		12,685			(4,894	)		7,791
Amounts reclassified to (gain) loss on investment securities		(1,183	)		456			(727	)		(2,978	)		1,148			(1,830	)
Balance at end of period	$	127		$	(49	)	$	78		$	13,313		$	(5,136	)	$	8,177
	Six Months Ended June 30,
	2015									2014
	Before Tax			Tax Effect			Net of Tax			Before Tax			Tax Effect			Net of Tax
	(Dollars in thousands)
Balance at beginning of period	$	1,106		$	(427	)	$	679		$	(2,565	)	$	990		$	(1,575	)
Unrealized gain (loss) on investment securities available for sale:
Net unrealized holdings gain (loss) arising during the period		1,300			(501	)		799			19,715			(7,606	)		12,109
Amounts reclassified to (gain) loss on investment securities		(2,279	)		879			(1,400	)		(3,837	)		1,480			(2,357	)
Balance at end of period	$	127		$	(49	)	$	78		$	13,313		$	(5,136	)	$	8,177

NOTE 9. BASIC AND DILUTED EARNINGS PER SHARE

Basic EPS is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS reflect the effect of common stock equivalents, including stock options and unvested shares, calculated using the treasury stock method. Common stock equivalents are excluded from the computation of diluted EPS in periods in which the effect is anti-dilutive.

The following table presents the computation of basic and diluted EPS:

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
	(Dollars in thousands, except share and per share data)
Net income (loss) available to common stockholders	$	19,376	$	9,166	$	2,502	$	12,694
Weighted average number of common shares - basic		41,428,588		35,892,154		41,425,240		35,892,154
Effect of dilutive securities:
Employee stock-based compensation awards		1,677,543		4,053		1,327,574		4,103
Weighted average number of common shares - diluted		43,106,131		35,896,207		42,752,814		35,896,257
Basic earnings (loss) per share	$	0.47	$	0.26	$	0.06	$	0.35
Diluted earnings (loss) per share	$	0.45	$	0.26	$	0.06	$	0.35
Anti-dilutive warrants, stock options and RSUs		560,704		9,424,582		1,715,989		9,386,102

29

NOTE 10. INCOME TAXES

The Company uses an estimated annual effective tax rate method in computing its interim tax provision. This effective tax rate is based on forecasted annual pre-tax income, permanent tax differences and statutory tax rates.

The effective tax rates for the three months ended June 30, 2015 and 2014, were 35.0% and 33.9% respectively. The increase in the effective tax rate for the second quarter of 2015 was primarily due to higher levels of pre-tax income, which is subject to the marginal tax rate and changes in permanent tax differences. The tax rate differs from the statutory rate due to the impact of tax benefits related to bank-owned life insurance, dividends received deductions, and certain stock-based compensation awards.

The effective tax rates for the six months ended June 30, 2015 and 2014, were 133.8% and 33.9% respectively. The increase in the effective tax rate for the six months ended June 30, 2015 reflects a net tax benefit due to the loss associated with the early termination of the FDIC loss share agreements and a deferred tax asset benefit associated with a revaluation of net unrealized built-in losses related to the Company’s acquisition of Great Florida Bank on January 31, 2014.

NOTE 11. STOCK-BASED COMPENSATION AND OTHER BENEFIT PLANS

2009 Option Plan

On February 5, 2014, the Company granted 90,000 stock options from the 2009 Option Plan to directors that vest at a rate of 25% per calendar quarter in 2014. The options have an exercise price of $19.75, the estimated fair value of the Company’s stock on the date of grant and an aggregate fair value of $479 thousand. The options granted to directors expire 10 years from grant date.

On April 29, 2014, the Company granted 150,000 stock options with a three year vesting period from the 2009 Option Plan to employees with a weighted average exercise price of $19.75, the estimated fair value of the Company’s stock on the date of grant, and an aggregate fair value of $890 thousand. The options granted to employees expire 10 years from grant date.

Option grant activities for the periods indicated are summarized as follows:

	2009 Option Plan
	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(Dollars in thousands)
Outstanding at beginning of period		4,102,667			3,539,334			4,135,250			3,688,500
Granted		—			150,000			—			240,000
Exercised		(10,168	)		—			(36,835	)		—
Forfeited		(17,415	)		—			(23,331	)		(14,166	)
Expired		(501	)		(3,334	)		(501	)		(228,334	)
Outstanding at end of period		4,074,583			3,686,000			4,074,583			3,686,000

At June 30, 2015, there were no shares available for award from the 2009 Option Plan and total vested and exercisable shares of 3,323,868 were outstanding.

The total unrecognized compensation cost of $3.7 million related to the 2009 Option Plan for share awards outstanding at June 30, 2015 will be recognized over a weighted average remaining period of 2.16 years.

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2013 Stock Incentive Plan

For the three months ended June 30, 2015, no awards were granted by the Company from the 2013 Plan. During the six months ended June 30, 2015, the Company granted 129,000 stock options from the 2013 Plan to directors that vest at a rate of 25% per calendar quarter in 2015 and 110,500 stock options to employees that vest at a rate of 33 ¹⁄₃% on the first, second and third year anniversaries of the grant date (“Three Year Vesting Period”). The options have a weighted average exercise price of $25.47, based on the fair value of the Company’s stock on the date of grant and an aggregate fair value of $1.8 million. The options granted to directors and employees expire 10 years from grant date.

For the three or six months ended June 30, 2014, no awards were granted by the Company from the 2013 Stock Incentive Plan (“2013 Plan”).

Option grant activities for the periods indicated are summarized as follows:

	2013 Option Plan
	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(Dollars in thousands)
Outstanding at beginning of period		2,403,334			2,173,000			2,170,500			2,173,000
Granted		—			—			239,500			—
Exercised		—			—			(6,666	)		—
Forfeited		(13,334	)		(2,500	)		(13,334	)		(2,500	)
Expired		—			—			—			—
Outstanding at end of period		2,390,000			2,170,500			2,390,000			2,170,500

At June 30, 2015, based on the number of stock options outstanding, there were 103,334 shares available for award from the 2013 Plan and total vested and exercisable shares of 749,062.

The total unrecognized compensation cost of $2.6 million related to the 2013 Equity Incentive Plan for share awards outstanding at June 30, 2015 will be recognized over a weighted average remaining period of 1.70 years.

Executive Incentive Awards

During the six months ended June 30, 2015, the Compensation Committee of the Board of Directors of the Company approved executive incentive awards. The Executive Incentive Plan grants cash phantom units (“CPUs”), the value of which is determined by the Company’s common share price at the end of the award period. The Company recognized compensation expense based on the estimated value of the award at grant date.

NOTE 12. COMMITMENTS AND CONTINGENCIES

The Company issues off-balance sheet financial instruments in connection with its lending activities and to meet the financing needs of its customers. These financial instruments include commitments to fund loans and lines of credit as well as commercial and standby letters of credit. These commitments expose the Company to varying degrees of credit and market risk which are essentially the same as extending loans to customers. The Company follows the same credit policies in making commitments as it does for instruments recorded on the Company’s consolidated balance sheet. Collateral is obtained based on management’s assessment of the customer’s credit risk.

The Company’s exposure to credit loss is represented by the contractual amount of commitments. As of June 30, 2015 and December 31, 2014 the Company’s reserve for unfunded commitments totaled $1.5 million and $1.2 million, respectively.

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Fees collected on off-balance sheet financial instruments represent the fair value of those commitments and are deferred and amortized over their term, which is typically one year or less. Amounts funded under non-cancelable commitments in effect at the date of acquisition are Covered Assets under the loss-sharing agreements, if applicable and if certain conditions are met.

Financial Instruments Commitments

Unfunded commitments are as follows:

	June 30, 2015		December 31, 2014
	(Dollars in thousands)
Commitments to fund loans	$	428,736	$	351,369
Unused lines of credit		251,792		199,880
Commercial and standby letters of credit		14,158		10,223
Total	$	694,686	$	561,472

Commitments to fund loans:

Commitments to fund loans are agreements to lend funds to customers as long as there is no violation of any condition established in the contract. To accommodate the financial needs of customers, the Company makes commitments under various terms to lend funds to consumers and businesses. Commitments to fund loans generally have fixed expiration dates or other termination clauses and may require payment of a fee. Many of these commitments are expected to expire without being funded and, therefore, the total commitment amounts do not necessarily represent future liquidity requirements.

The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral required in connection with a commitment to fund is based on management’s credit evaluation of the counterparty.

Unused lines of credit:

Unfunded commitments under lines of credit include commercial, commercial real estate, home equity and consumer lines of credit to existing customers. Some of these commitments may mature without being fully funded.

Commercial and standby letters of credit:

Letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Letters of credit are primarily issued to support trade transactions or guarantee arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Company generally holds collateral supporting those commitments if deemed necessary.

Other Commitments and Contingencies

Legal Proceedings

The Company, from time to time, is involved as plaintiff or defendant in various legal actions arising in the normal course of business. While the ultimate outcome of any such proceedings cannot be predicted with certainty, it is the opinion of management, based upon advice of legal counsel, that no proceedings exist, either individually or in the aggregate, which, if determined adversely to the Company, would have a material effect on the Company’s consolidated balance sheet, results of operations or cash flows.

A bank-owned asset in Miami-Dade County was foreclosed in 2012, and later discovered to have been illegally infilled over protected wetlands by the prior owner. The Bank had been working with Miami-Dade County environmental agencies to address the situation, along with Bank environmental attorneys specializing in this area. The subject property was sold during Q1 2015 to a third party purchaser and the Bank has no further legal liability for the asset.

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The SEC is investigating the valuation and accounting treatment by Great Florida Bank (“GFB”), prior to the Great Florida Acquisition by the Company, of an office building acquired by GFB in 2009 and the use of appraisals with respect to such valuation. The Bank is cooperating with the investigation. On the date of acquisition by the Bank, based on the Company’s plans and intended use of the acquired office building, the asset was classified as OREO and recorded at fair value, less estimated selling costs. The fair value of the office building was based on a third party real estate appraisal at the date of acquisition. The Company does not believe that the results of the SEC investigation relating to GFB are likely to have a material adverse effect on the financial condition or results of operations of the Company. The subject property was sold during Q2 2015 to a third party purchaser.

NOTE 13. FAIR VALUE MEASUREMENTS

When determining the fair value measurements for assets and liabilities and the related fair value hierarchy, the Company considers the principal or most advantageous market in which it would transact and the assumptions that market participants would use when pricing the asset or liability (observable inputs). When possible, the Company looks to active and observable markets to price identical assets or liabilities. When identical assets and liabilities are not traded in active markets, the Company looks to market observable data for similar assets and liabilities. It is the Company’s policy to maximize the use of observable inputs, minimize the use of unobservable inputs, and use unobservable inputs to measure fair value to the extent that observable inputs are not available. The need to use unobservable inputs generally results from the lack of market liquidity, resulting in diminished observability of both actual trades and assumptions that would otherwise be available to value these instruments, or the value of the underlying collateral is not market observable. Although third party price indications may be available for an asset or liability, limited trading activity would make it difficult to support the observability of these quotations.

Financial Instruments Carried at Fair Value on a Recurring Basis

The following is a description of the valuation methodologies used for financial instruments measured at fair value on a recurring basis, as well as the general classification of each instrument under the valuation hierarchy.

Investment Securities—Investment securities available for sale are carried at fair value on a recurring basis. When available, fair value is based on quoted prices for the identical security in an active market and as such, would be classified as Level 1. If quoted market prices are not available, fair values are estimated using quoted prices of securities with similar characteristics, discounted cash flows or matrix pricing models. Investment securities available for sale for which Level 1 valuations are not available are classified as Level 2, and include U.S. Government agencies and sponsored enterprises debt obligations and agency mortgage-backed securities; state and municipal obligations; asset-backed securities; and corporate debt and other securities. Pricing of these securities is generally spread driven.

Observable inputs that may impact the valuation of these securities include benchmark yield curves, credit spreads, reported trades, dealer quotes, bids, issuer spreads, current rating, historical constant prepayment rates, historical voluntary prepayment rates, structural and waterfall features of individual securities, published collateral data, and for certain securities, historical constant default rates and default severities.

Interest Rate Derivatives—Interest rate derivatives are reported at estimated fair value utilizing Level 2 inputs and are included in other assets and other liabilities and consist of interest rate swaps where there is no significant deterioration in the counterparties (loan customers) credit risk since origination of the interest rate swap. The Company values its interest rate swap positions using market prices provided by a third party which uses primarily observable market inputs. Interest rate derivatives are further described in Note 6 “Derivatives.”

For purposes of potential valuation adjustments to our derivative positions, the Company evaluates the credit risk of its counterparties as well as our own credit risk. Accordingly, the Company has considered factors such as the likelihood of default, expected loss given default, net exposures and remaining contractual life, among other things, in determining if any estimated fair value adjustments related to credit risk are required. The Company reviews counterparty exposure quarterly, and when necessary, appropriate adjustments are made to reflect the exposure.

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For the six months ended June 30, 2015 and 2014, the Company has not realized any losses due to the counterparty’s inability to pay any net uncollateralized position. As of June 30, 2015, there were no interest rate derivatives classified as Level 3.

Contingent consideration issued to the FDIC—In conjunction with the 2010 and 2011 acquisitions, the Bank issued contingent consideration to the FDIC in the form of EAAs. The estimated fair value of the EAAs are derived from an estimation of the future fair value of the Company’s stock and a range of potential payment liabilities is determined in accordance with the terms of each agreement. Management assigns a probability to each potential payment liability based on its judgment about the likelihood of the event occurring. This expected value is the basis for estimating the fair value of the contingent consideration. As of June 30, 2015, the Company had no remaining EAAs, as the EAAs reached final settlement with the FDIC on September 29, 2014.

Clawback liability—The fair value of the FDIC clawback liability is estimated using a discounted cash flow technique based on projected cash flows related to the resolution of Covered Assets and a discount rate using a risk free rate, plus a premium that takes into account the Company’s credit risk, resulting in Level 3 classification.

On March 4, 2015, the Bank entered into an agreement with the FDIC to terminate all loss sharing agreements which were entered into in 2010 and 2011 in conjunction with the Bank’s acquisition of substantially all of the assets (“covered assets”) and assumption of substantially all of the liabilities of six failed banks in FDIC-assisted acquisitions. Under the early termination, all rights and obligations of the Bank and the FDIC under the loss share agreements, including the clawback liability, have been eliminated.

The following table presents the assets and liabilities measured at fair value on a recurring basis:

	June 30, 2015
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
U.S. Government agencies and sponsored enterprises obligations	$	—	$	5,404	$	—	$	5,404
U.S. Government agencies and sponsored enterprises mortgage-backed securities		—		378,282		—		378,282
State and municipal obligations		—		2,230		—		2,230
Asset-backed securities		—		457,738		—		457,738
Corporate bonds and other debt securities		—		417,261		—		417,261
Preferred stocks and other equity securities		2,034		167,200		—		169,234
Derivative assets - Interest rate contracts		—		15,387		—		15,387
Total	$	2,034	$	1,443,502	$	—	$	1,445,536
Liabilities:
Derivative liabilities - Interest rate contracts	$	—	$	15,387	$	—	$	15,387
Clawback liability		—		—		—		—
Total	$	—	$	15,387	$	—	$	15,387

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	December 31, 2014
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
U.S. Government agencies and sponsored enterprises obligations	$	—	$	6,096	$	—	$	6,096
U.S. Government agencies and sponsored enterprises mortgage-backed securities		—		501,652		—		501,652
State and municipal obligations		—		2,277		—		2,277
Asset-backed securities		—		478,201		—		478,201
Corporate bonds and other debt securities		—		258,683		—		258,683
Preferred stocks and other equity securities		23,594		88,595		—		112,189
Derivative assets - Interest rate contracts		—		14,328		—		14,328
Total	$	23,594	$	1,349,832	$	—	$	1,373,426
Liabilities:
Derivative liabilities - Interest rate contracts	$	—	$	14,328	$	—	$	14,328
Clawback liability		—		—		13,846		13,846
Total	$	—	$	14,328	$	13,846	$	28,174

There were no transfers of financial assets between levels of the fair value hierarchy during the six months ended June 30, 2015 or 2014.

The following tables reconcile changes in the fair value of liabilities measured at fair value on a recurring basis and classified in level 3 of the fair value hierarchy for the periods presented:

	Three Months Ended June 30,
	2015					2014
	Clawback Liability			EAAs		Clawback Liability		EAAs
	(Dollars in thousands)
Balance at beginnning of period	$	—		$	—	$	12,060	$	1,362
Losses (gains) included in other noninterest expenses		—			—		465		452
Termination of FDIC loss sharing agreements		—			—		—		—
Balance at end of period	$	—		$	—	$	12,525	$	1,814
	Six Months Ended June 30,
	2015					2014
	Clawback Liability			EAAs		Clawback Liability		EAAs
	(Dollars in thousands)
Balance at beginnning of period	$	13,846		$	—	$	11,753	$	1,114
Losses (gains) included in other noninterest expenses		—			—		772		700
Termination of FDIC loss sharing agreements		(13,846	)		—		—		—
Balance at end of period	$	—		$	—	$	12,525	$	1,814

The inputs used to determine the estimated fair value of loans include market conditions, loan term, underlying collateral characteristics and discount rates. The inputs used to determine the fair value of OREO include market conditions, estimated marketing period or holding period, underlying collateral characteristics and discount rates.

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For the six months ended June 30, 2015 and 2014, there was not a change in the methods or significant assumptions used to estimate fair value.

The following table shows significant unobservable inputs used in the non-recurring fair value measurement of level 3 assets and liabilities:

Level 3 Asset	Fair value		Valuation Technique	Unobservable Inputs	Range
	(Dollars in thousands)
Non-recurring:
Loans	$	4,540,556	Third party appraisals and discounted cash flows	Collateral discounts and discount rates		0% - 100	%
Other real estate owned		42,654	Third party appraisals	Collateral discounts and estimated cost to sell		10	%

Financial Instruments Measured at Fair Value on a Non-Recurring Basis

The following is a description of the methodologies used to estimate the fair values of assets and liabilities measured at fair value on a non-recurring basis, and the level within the fair value hierarchy in which those measurements are typically classified.

Impaired loans and OREO—The carrying amount of collateral dependent impaired loans is typically based on the fair value of the underlying collateral, which may be real estate or other business assets, less estimated costs to sell. The carrying value of OREO is initially measured based on the fair value, less estimated cost to sell, of the real estate acquired in foreclosure and subsequently adjusted to the lower of cost or estimated fair value, less estimated cost to sell. Fair values of real estate collateral are typically based on real estate appraisals which utilize market and income valuation techniques incorporating both observable and unobservable inputs. When current appraisals are not available, the Company may use brokers’ price opinions, home price indices, or other available information about changes in real estate market conditions to adjust the latest appraised value available. These adjustments to appraised values may be subjective and involve significant management judgment. The fair value of collateral consisting of other business assets is generally based on appraisals that use market approaches to valuation, incorporating primarily unobservable inputs. Fair value measurements related to collateral dependent impaired loans and OREO are classified within level 3 of the fair value hierarchy.

The following tables provide information about certain assets measured at fair value on a non-recurring basis:

	June 30, 2015		December 31, 2014
	(Dollars in thousands)
Assets that are still held (classified in Level 3):
Impaired loans	$	6,262	$	4,754
Foreclosed real estate		42,654		74,527

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
	(Dollars in thousands)
Negative valuation adjustments:
Impaired loans	$	1,049	$	—	$	1,049	$	—
Foreclosed real estate		69		287		174		732

Impairment charges resulting from the non-recurring changes in fair value of the underlying collateral of impaired loans are included in the provision for loan losses in the consolidated statement of income. Impairment charges resulting from the non-recurring changes in fair value of OREO are included in other real estate and acquired assets resolution expenses in the consolidated statement of income.

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The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company’s financial instruments are as follows:

June 30, 2015	Carrying Value		Fair Value		Level 1		Level 2		Level 3
	(Dollars in thousands)
Financial Assets:
Cash and cash equivalents	$	141,286	$	141,286	$	141,286	$	—	$	—
Available for sale securities		1,430,149		1,430,149		2,034		1,428,115		—
FHLB and other bank stock		70,505		70,505		—		70,505		—
Loans, net		4,500,676		4,540,556		—		—		4,540,556
Loans held for sale		4,782		4,782		—		4,782		—
Loss share indemnification asset		—		—		—		—		—
Due from FDIC		—		—		—		—		—
Bank-owned life insurance		140,830		140,830		—		140,830		—
Derivative assets - Interest rate contracts		15,387		15,387		—		15,387		—
Financial Liabilities:
Deposits	$	4,466,087	$	4,467,199	$	—	$	4,467,199	$	—
Advances from the FHLB and other borrowings		1,232,893		1,233,205		—		1,233,205		—
Derivative liabilities - Interest rate contracts		15,387		15,387		—		15,387		—
Clawback liability		—		—		—		—		—

December 31, 2014	Carrying Value		Fair Value		Level 1		Level 2		Level 3
	(Dollars in thousands)
Financial Assets:
Cash and cash equivalents	$	107,085	$	107,085	$	107,085	$	—	$	—
Available for sale securities		1,359,098		1,359,098		23,594		1,335,504		—
FHLB and other bank stock		66,891		66,891		—		66,891		—
Loans, net		3,906,710		3,959,771		—		—		3,959,771
Loans held for sale		707		707		—		707		—
Loss share indemnification asset		63,168		27,976		—		—		27,976
Due from FDIC		1,735		1,735		—		1,735		—
Bank-owned life insurance		139,829		139,829		—		139,829		—
Derivative assets - Interest rate contracts		14,328		14,328		—		14,328		—
Financial Liabilities:
Deposits	$	3,978,535	$	3,977,629	$	—	$	3,977,629	$	—
Advances from the FHLB and other borrowings		1,067,981		1,066,764		—		1,066,764		—
Derivative liabilities - Interest rate contracts		14,328		14,328		—		14,328		—
Clawback liability		13,846		13,846		—		—		13,846

Certain financial instruments are carried at amounts that approximate fair value due to their short-term nature and generally negligible credit risk. Financial instruments for which fair value approximates the carrying amount at June 30, 2015 and December 31, 2014, include cash and cash equivalents and due from FDIC.

The following methods and assumptions were used to estimate the fair value of each class of financial instruments.

FHLB and Other Bank Stock:

FHLB and other bank stock can be liquidated only by redemption by the issuer, as there is no market for these securities. These securities are carried at par, which has historically represented the redemption price and is therefore considered to approximate fair value.

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Loans:

Fair values for loans are based on a discounted cash flow methodology that considers various factors, including the type of loan and related collateral, classification status, fixed or variable interest rate, term of loan, whether or not the loan was amortizing and current discount rates. Loans are grouped together according to similar characteristics and are treated in the aggregate when applying various valuation techniques. The discount rates used for loans are based on current market rates for new originations of comparable credit risk and include adjustments for liquidity concerns. The ALL is considered a reasonable estimate of the required adjustment to fair value to reflect the impact of credit risk. This estimate may not represent an exit value as defined in ASC 820.

Loans Held for Sale:

Fair values of mortgage loans held for sale are based on commitments on hand from investors or prevailing market prices.

Loss Share Indemnification Asset:

The fair value of the loss share indemnification asset is estimated using a discounted cash flow technique based on projected cash flows related to the resolution of Covered Assets and a discount rate using a risk free rate, plus a premium to take into account the Company’s credit risk, that incorporates the uncertainty related to the amounts and timing of the cash flows and other liquidity concerns as well as the counterparties credit risk. As of June 30, 2015, the Company had no remaining loss share indemnification asset, as the Bank entered into an agreement with the FDIC to terminate all loss sharing agreements on March 4, 2015.

Due from FDIC:

The due from FDIC represents claims submitted to the Federal Deposit Insurance Corporation for reimbursement for which the Company expects to receive payment within 90 days. Due to their short term nature, the carrying amount of these instruments approximates the estimated fair value. As of June 30, 2015, the Company had no remaining receivable from the FDIC, as the Bank entered into an agreement with the FDIC to terminate all loss sharing agreements on March 4, 2015.

Bank-owned Life Insurance:

The Company holds life insurance policies on certain officers. The carrying value of these policies approximates fair value as it is based on the cash surrender value adjusted for other charges or amounts due that are probable at settlement.

Deposits:

The fair value of demand deposits, savings accounts and money market deposits is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated using discounted cash flow analysis and using the rates currently offered for deposits of similar remaining maturities.

Advances from the FHLB and Other Borrowings:

The fair value of advances from the FHLB and other borrowings are estimated by discounting the future cash flows using the current rate at which similar borrowings with similar remaining maturities could be obtained.

EAAs:

The estimated fair value of EAAs are derived from an estimation of the future fair value of the Company’s stock and a range of potential payment liabilities are determined in accordance with the terms of each agreement. As of June 30, 2015, the Company had no remaining EAAs, as the EAAs reached final settlement with the FDIC on September 29, 2014.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis is intended to assist readers in understanding the financial condition and results of operations of the Company during the three and six month periods ended June 30, 2015 and should be read in conjunction with the consolidated financial statements and notes thereto included in this report on Form 10-Q and the Company’s Annual Report on Form 10-K filed for the year ended December 31, 2014 with the SEC.

In this report, unless the context suggests otherwise, references to “FCB Financial Holdings,” “the Company,” “we,” “us,” “and “our” mean the business of FCB Financial Holdings, Inc. (formerly known as Bond Street Holdings, Inc.) and its wholly-owned subsidiary, Florida Community Bank, National Association, and its consolidated subsidiaries; and references to “the Bank” refer to Florida Community Bank, National Association, and its consolidated subsidiaries. References to the “Old Failed Banks” include Premier American Bank, or Old Premier, Florida Community Bank, or Old FCB, Peninsula Bank, or Old Peninsula, Sunshine State Community Bank, or Old Sunshine, First National Bank of Central Florida, or Old FNBCF, Cortez Community Bank, or Old Cortez, Coastal Bank, or Old Coastal, First Peoples Bank, or Old FPB, in each case, before the acquisition of certain assets and assumption of certain liabilities of each of the Old Failed Banks by the Bank. References to Great Florida Bank, or GFB, refer to such bank before its acquisition by the Bank; Great Florida Bank and the Old Failed Banks are collectively referred to as the Old Banks. References to our Class A Common Stock refer to our Class A voting common stock, par value $0.001 per share; references to our Class B Common Stock refer to our Class B non-voting common stock, par value $0.001 per share; and references to our common stock include, collectively, our Class A Common Stock and our Class B Common Stock.

Cautionary Note Regarding Forward-Looking Information

This report may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the financial condition, results of operations, business plans and future performance of the Company. We generally identify forward looking statements by terminology such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “could,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of those words or other comparable words. Any forward-looking statements contained in this report are based on our historical performance, the historical performance of the Old Banks or on our current plans, estimates and expectations. The inclusion of this forward-looking information should not be regarded as a representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions relating to our operations, financial results, financial condition, business prospects, growth strategy and liquidity. If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with any other cautionary statements that are included elsewhere in this report. We do not undertake any obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise. A number of important factors could cause actual results to differ materially from those indicated by the forward-looking statements, including but not limited to, those factors described under “Business”, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 filed with the SEC.

You should read this report and the documents that we reference in this report and have filed as exhibits to various reports and registration statements that we have filed with the SEC completely and with the understanding that our actual future results, levels of activity, performance and achievements may be different from what we expect and that these difference may be material.

Critical Accounting Policies

We prepare our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and conform to the accounting and reporting guidelines prescribed by bank regulatory authorities. The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reporting period. The more critical accounting estimates and reporting policies include accounting for the ALL, determining fair value of financial instruments, valuation of goodwill and intangible assets, income taxes and the valuation of assets acquired and liabilities assumed in business combinations. Accordingly, the Company’s critical accounting estimates are discussed in detail in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s Annual Report on Form 10-K. The Company’s significant accounting policies and changes in accounting principles and effects of new accounting pronouncements are discussed in detail in Note 1 “Summary of Significant Accounting Policies” in the “Notes to Consolidated Financial Statements” in the Company’s Annual Report on Form 10-K. Additional disclosures regarding the effects of new accounting pronouncements are included in Note 1 “Summary of Significant Accounting Policies” included herein.

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Corporate Profile

FCB Financial Holdings, Inc. is a bank holding company, headquartered in Weston, Florida, with one wholly-owned national bank subsidiary, Florida Community Bank, National Association. The Bank offers a comprehensive range of traditional banking products and services to individuals, small and medium-sized businesses, some large businesses, and other local organizations and entities through 48 branches in south and central Florida. The Bank targets retail and commercial customers engaged in a wide variety of industries including healthcare and professional services, retail and wholesale trade, tourism, agricultural services, manufacturing, distribution and distribution-related industries, technology, automotive, aviation, food products, building materials, residential housing and commercial real estate.

We are an “emerging growth company,” as defined in the Jumpstart Our Business Startups Act, or JOBS Act. As such, we are eligible to take advantage of certain exemptions from various reporting requirements that are generally unavailable to other public companies. In addition, Section 107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards affecting public companies. We could remain an emerging growth company until the earliest to occur of (a) the last day of the fiscal year in which the fifth anniversary of our initial public offering occurred, (b) the last day of the first fiscal year in which our annual gross revenues exceed $1 billion, (c) the date on which we are deemed to be a “large accelerated filer,” which will occur at such time as (i) the market value of our common stock that is held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter, (ii) we have been required to file annual and quarterly reports under the Securities Exchange Act of 1934, as amended, or Exchange Act, for a period of at least 12 months and (iii) we have filed at least one annual report pursuant to the Exchange Act or (d) the date on which we have issued more than $1 billion in non-convertible debt during the preceding three-year period. We anticipate the Company will no longer remain an emerging growth company as of December 31, 2015 as we expect to be deemed a large accelerated filer.

Primary Factors Used to Evaluate Our Business

As a financial institution, we manage and evaluate various aspects of both our results of operations and our financial condition. We evaluate the levels and trends of the line items included in our consolidated balance sheets and income statements, as well as various financial ratios that are commonly used in our industry. We analyze these ratios and financial trends against our own historical performance, our budgeted performance and the financial condition and performance of comparable financial institutions in our region and nationally.

Results of Operations

Our results of operations depend substantially on net interest income, which is the difference between interest income on interest-earning assets, consisting primarily of interest income on loans receivable, including accretion income on acquired loans, securities and other short-term investments, and interest expense on interest-bearing liabilities, consisting primarily of deposits and borrowings. Our results of operations are also dependent upon our generation of noninterest income, consisting of income from banking service fees, interest rate swap services, BOLI and recoveries on acquired assets. Other factors contributing to our results of operations include our provisions for loan losses, gains or losses on securities and income taxes, as well as the level of our noninterest expenses, such as compensation and benefits, occupancy and equipment and other miscellaneous operating expenses.

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Net Interest Income

Net interest income, a significant contributor to our revenues and net income, represents interest income less interest expense. We generate interest income from interest, dividends and fees received on interest-earning assets, including loans and investment securities. We incur interest expense from interest paid on interest-bearing liabilities, including interest-bearing deposits, and borrowings. To evaluate net interest income, we measure and monitor (1) yields on our loans and other interest-earning assets, (2) the costs of our deposits and other funding sources, (3) our net interest spread, (4) our net interest margin and (5) our provision for loan losses. Net interest spread is the difference between rates earned on interest-earning assets and rates paid on interest-bearing liabilities. Net interest margin is calculated as net interest income divided by average interest-earning assets. Because noninterest-bearing sources of funds, such as noninterest-bearing deposits and stockholders’ equity, also fund interest-earning assets, net interest margin includes the benefit of these noninterest-bearing sources.

We also recognize income from the accretable discounts associated with the purchase of interest-earning assets. Our acquisitions in 2010 and 2011 and our January 31, 2014 acquisition of GFB, produce a portion of our interest income from the accretable discounts on acquired loans. This accretion will continue to have an impact on our net interest income as long as loans acquired with evidence of credit deterioration at acquisition represent a meaningful portion of our interest-earning assets.

Changes in market interest rates and the interest rates we earn on interest-earning assets or pay on interest-bearing liabilities, as well as the volume and types of interest-earning assets, interest-bearing and noninterest-bearing liabilities and stockholders’ equity, are usually the largest drivers of periodic changes in net interest spread, net interest margin and net interest income. In addition, our interest income includes the accretion of the fair value discounts on our acquired loans, which will also affect our net interest spread, net interest margin and net interest income. We measure net interest income before and after the provision for loan losses required to maintain our ALL at acceptable levels.

Noninterest Income

Our noninterest income includes the following:

• Service charges and fees;

• Interest rate swap services;

• BOLI income;

• Accretion income and amortization expense from FDIC loss share indemnification asset and clawback liability;

• Reimbursement of expenses on assets covered by loss sharing agreements;

• Income from resolution of acquired assets; and

• Net gains and losses from the sale of OREO assets and investment securities

Noninterest Expense

Our noninterest expense includes the following:

• Salaries and employee benefits;

• Occupancy and equipment expenses;

• Other real estate and acquired loan resolution related expenses;

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• Professional services;

• Data processing and network expense;

• Regulatory assessments and insurance; and

• Amortization of intangibles

Financial Condition

The primary factors we use to evaluate and manage our financial condition include liquidity, asset quality and capital.

Liquidity

We manage liquidity based upon factors that include the amount of core deposits as a percentage of total deposits, the level of diversification of our funding sources, the allocation and amount of our deposits among deposit types, the short-term funding sources used to fund assets, the amount of non-deposit funding used to fund assets, the availability of unused funding sources, off-balance sheet obligations, the availability of assets to be readily converted into cash without undue loss, the amount of cash and liquid securities we hold, and the re-pricing characteristics and maturities of our assets when compared to the re-pricing characteristics of our liabilities, the ability to securitize and sell certain pools of assets and other factors.

Asset Quality

We manage the diversification and quality of our assets based upon factors that include the level, distribution, severity and trend of problem, classified, delinquent, nonaccrual, nonperforming and restructured assets, the adequacy of our ALL, discounts and reserves for unfunded loan commitments, the diversification and quality of loan and investment portfolios, the extent of counterparty risks and credit risk concentrations.

Capital

We manage capital based upon factors that include the level and quality of capital and overall financial condition of the Company, the trend and volume of problem assets, the adequacy of discounts and reserves, the level and quality of earnings, the risk exposures in our balance sheet, the levels of Tier 1 (core), risk-based and tangible equity capital, the ratios of Tier 1 (core), risk-based and tangible equity capital to total assets and risk-weighted assets and other factors.

Performance Highlights

Operating and financial highlights for the three months ended June 30, 2015 include the following:

• Total net revenue of $64.3 million, up 34.5% year-over-year

• EPS of $0.45 and Core EPS of $0.44 on a fully diluted basis

• Total loan portfolio grew sequentially at an annualized rate of 39.8%

• New loan fundings of $584.2 million during the quarter

• Total deposits grew sequentially at an annualized rate of 22.8%

• Demand deposits grew to 20.4% of total deposits during the quarter

• ROA of 1.23% and Core ROA of 1.21%

• Tangible book value per share was $18.58

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The reconciliation of certain non-GAAP financial measures, which management believes facilitates the assessment of its banking operations and peer comparability, are included in tabular form under “Non-GAAP Financial Measures”.

Analysis of Results of Operations

Net income available to common stockholders totaled $19.4 million, which generated diluted EPS of $0.45 in the second quarter of 2015. Net income available to common stockholders for the same period of 2014 totaled $9.2 million, which generated diluted EPS of $0.26. The Company’s results of operations for the second quarter of 2015 produced an annualized return on average assets of 1.23% and an annualized return on average common stockholders’ equity of 9.09% compared to prior year ratios of 0.69% and 5.02%, respectively.

Net income available to common stockholders totaled $2.5 million for the six months ended June 30, 2015, which generated diluted EPS of $0.06. Net income available to common stockholders for the six months ended June 30, 2014 totaled $12.7 million, which generated diluted EPS of $0.35. The decrease in earnings was primarily driven by the one-time, pre-tax charge of $65.5 million in conjunction with the early termination of the FDIC loss share agreements on March 4, 2015. The Company’s results of operations for the six months ended June 30, 2015 produced an annualized return on average assets of 0.08% and an annualized return on average common stockholders’ equity of 0.59% compared to prior year ratios of 0.51% and 3.52%, respectively.

Net Interest Income and Net Interest Margin

Net interest income is the largest component of our income and is affected by the interest rate environment and the volume and composition of interest-earning assets and interest-bearing liabilities. Our interest-earning assets include loans, interest-bearing deposits in other banks and investment securities. Our interest-bearing liabilities include deposits, FHLB advances and other borrowings.

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The following tables present, for the periods indicated, information about (i) average balances, the total dollar amount of interest income from interest-earning assets and the resultant average yields; (ii) average balances, the total dollar amount of interest expense on interest-bearing liabilities and the resultant average rates; (iii) net interest income; (iv) the interest rate spread; and (v) the net interest margin. Yields have been calculated on a pre-tax basis:

	Three Months Ended June 30,
	2015							2014
	Average Balance (1)		Interest/ Expense (2)		Annualized Yield/Rate(3)			Average Balance (1)		Interest/ Expense (2)		Annualized Yield/Rate(3)
	(Dollars in thousands)
Interest-earning assets:
Interest-earning deposits in other banks	$	75,166	$	40		0.21	%	$	97,493	$	53		0.22	%
New loans		3,476,829		29,257		3.33	%		2,087,601		18,475		3.50	%
Acquired loans (4)(5)		730,895		14,945		8.18	%		967,986		19,358		8.00	%
Investment securities		1,591,279		13,169		3.27	%		1,710,662		10,566		2.44	%
Total interest-earning assets		5,874,169		57,411		3.88	%		4,863,742		48,452		3.96	%
Non-earning assets:
FDIC loss share indemnification asset (6)		—							78,916
Noninterest-earning assets		450,904							411,602
Total assets	$	6,325,073						$	5,354,260
Interest-bearing liabilities:
Interest-bearing demand deposits	$	212,164	$	226		0.43	%	$	—	$	—		0.00	%
Interest-bearing NOW accounts		415,206		349		0.34	%		112,752		43		0.15	%
Savings and money market accounts		1,794,967		2,333		0.52	%		1,787,574		2,564		0.58	%
Time deposits (7)		1,242,071		3,083		1.00	%		1,464,960		3,226		0.88	%
FHLB advances and other borrowings (7)		1,181,419		1,246		0.42	%		786,513		1,466		0.74	%
Total interest-bearing liabilities		4,845,827		7,237		0.60	%		4,151,799		7,299		0.70	%
Noninterest-bearing liabilities and stockholders’ equity:
Noninterest-bearing demand deposits		576,905							420,188
Other liabilities		47,213							49,896
Stockholders’ equity		855,128							732,377
Total liabilities and stockholders’ equity	$	6,325,073						$	5,354,260
Net interest income			$	50,174						$	41,153
Net interest spread						3.28	%						3.26	%
Net interest margin						3.43	%						3.39	%

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	Six Months Ended June 30,
	2015							2014
	Average Balance (1)		Interest/ Expense (2)		Annualized Yield/Rate(3)			Average Balance (1)		Interest/ Expense (2)		Annualized Yield/Rate(3)
	(Dollars in thousands)
Interest-earning assets:
Cash and cash equivalents	$	76,746	$	73		0.19	%	$	111,736	$	121		0.22	%
New loans		3,329,174		55,842		3.34	%		1,951,611		34,856		3.55	%
Acquired loans (4)(5)		763,551		31,666		8.29	%		901,409		37,829		8.39	%
Investment securities and other		1,537,879		25,279		3.27	%		1,614,663		20,564		2.53	%
Total interest-earning assets		5,707,350		112,860		3.94	%		4,579,419		93,370		4.06	%
Non-earning assets:
FDIC loss share indemnification asset (6)		21,901							82,437
Noninterest-earning assets		453,561							379,571
Total assets	$	6,182,812						$	5,041,427
Interest-bearing liabilities:
Interest-bearing demand deposits	$	177,215	$	358		0.41	%	$	—	$	—		0.00	%
Interest-bearing NOW accounts		403,825		685		0.34	%		106,148		79		0.15	%
Savings and money market accounts		1,818,890		4,787		0.53	%		1,670,470		4,447		0.54	%
Time deposits (7)		1,194,537		5,746		0.97	%		1,438,198		6,616		0.93	%
FHLB advances and other borrowings (7)		1,107,574		2,226		0.40	%		668,048		2,730		0.81	%
Total interest-bearing liabilities		4,702,041		13,802		0.60	%		3,882,864		13,872		0.72	%
Noninterest-bearing liabilities and shareholders’ equity:
Noninterest-bearing demand deposits		573,126							386,777
Other liabilities		50,586							44,459
Stockholders’ equity		857,059							727,327
Total liabilities and stockholders’ equity	$	6,182,812						$	5,041,427
Net interest income			$	99,058						$	79,498
Net interest spread						3.34	%						3.34	%
Net interest margin						3.50	%						3.50	%

(1) Average balances presented are derived from daily average balances.

(2) Interest income is presented on an actual basis and does not include taxable equivalent adjustments.

(3) Average rates are presented on an annualized basis.

(4) Includes loans on nonaccrual status.

(5) Net of allowance for loan losses.

(6) Amortization expense of FDIC loss share indemnification asset is not included in net interest income presentation.

(7) Interest expense includes the impact from premium amortization.

Changes in interest income and interest expense result from changes in average balances (volume) of interest-earning assets and liabilities, as well as changes in average interest rates. The following tables show the effect that these factors had on the interest earned on our interest-earning assets and the interest incurred on our interest-bearing liabilities for the periods indicated. The effect of changes in volume is determined by multiplying the change in volume by the prior period’s average rate. Similarly, the effect of rate changes is calculated by multiplying the change in average rate by the previous period’s volume. Changes in both volume and rate have been allocated to these two categories based on the proportionate absolute changes in each category. Yields have been calculated on a pre-tax basis.

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A summary of increases and decreases in interest income and interest expense resulting from changes in average balances (volume) and average interest rates are as follows:

	Three Months Ended June 30, 2015 compared to 2014
	Increase (Decrease) Due to
	Volume (3)			Rate (3)			Total
	(Dollars in thousands)
Interest-earning assets:
Interest-earning deposits in other banks	$	(12	)	$	(1	)	$	(13	)
New loans		16,730			(5,948	)		10,782
Acquired loans (1)		(7,221	)		2,808			(4,413	)
Investment securities		(4,397	)		7,000			2,603
Total change in interest income	$	5,100		$	3,859		$	8,959
Interest-bearing liabilities:
Interest-bearing demand deposits	$	226		$	—		$	226
Interest-bearing NOW accounts		211			95			306
Savings and money market accounts		72			(303	)		(231	)
Time deposits (2)		(1,870	)		1,727			(143	)
FHLB advances and other borrowings (2)		2,586			(2,806	)		(220	)
Total change in interest expenses		1,225			(1,287	)		(62	)
Total change in net interest income	$	3,875		$	5,146		$	9,021

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	Six Months Ended June 30, 2015 compared to 2014
	Increase (Decrease) Due to
	Volume (3)			Rate (3)			Total
	(Dollars in thousands)
Interest-earning assets:
Interest-earning deposits in other banks	$	(34	)	$	(14	)	$	(48	)
New loans		27,086			(6,100	)		20,986
Acquired loans (1)		(5,721	)		(442	)		(6,163	)
Investment securities		(2,680	)		7,395			4,715
Total change in interest income	$	18,651		$	839		$	19,490
Interest-bearing liabilities:
Interest-bearing demand deposits	$	358		$	—		$	358
Interest-bearing NOW accounts		417			189			606
Savings and money market accounts		480			(140	)		340
Time deposits (2)		(1,644	)		774			(870	)
FHLB advances and other borrowings (2)		2,830			(3,334	)		(504	)
Total change in interest expenses		2,441			(2,511	)		(70	)
Total change in net interest income	$	16,210		$	3,350		$	19,560

(1) Includes loans on nonaccrual status.

(2) Interest expense includes the impact from premium amortization.

(3) Variances attributable to both volume and rate are allocated on a consistent basis between rate and volume based on the absolute value of the variances in each category.

Second Quarter 2015 compared to Second Quarter 2014

Net interest income was $50.2 million for the second quarter of 2015, an increase of 21.9% compared to $41.2 million for the same period in 2014. The increase in net interest income reflects a $9.0 million increase in interest income, while interest expense remained flat over the period. For the three months ended June 30, 2015, average earning assets increased by $1.01 billion, or 20.8%, compared to the same period of the prior year, while average interest-bearing liabilities increased $694.0 million, or 16.7%, compared to the three months ended June 30, 2014. The increase in interest income for the second quarter of 2015 was primarily due to a $10.8 million increase in interest income on New loans due to growth in the New loan portfolio. The average balance of New loans increased $1.39 billion, which offset the negative impact of the reduction in the average interest rate on New loans of 17 basis points. Interest income on acquired loans decreased $4.4 million for the three months ended June 30, 2015 compared to the second quarter of 2014, primarily driven by a decrease in the average balance of loans of $237.1 million due to runoff of the acquired loan portfolio, offset by an increase in the average interest rate on acquired loans of 18 basis points.

Interest expense on deposits increased $158 thousand for the three months ended June 30, 2015 compared to the three months ended June 30, 2014 primarily due to a $299.1 million, or 8.9%, increase in the average balance of interest-bearing deposits. The cost of deposits improved to 57 basis points for the period due to the shift from higher costing time deposits to lower costing demand deposits. The average rate paid on time deposits, including the impact of premium amortization, was 1.00% and 0.88% for the three months ended June 30, 2015 and 2014, respectively. Interest expense on FHLB advances and other borrowings totaled $1.2 million for the three months ended June 30, 2015 as compared to $1.5 million for the three months ended June 30, 2014. The decrease was primarily due to a 32 basis point decrease in average rate paid on borrowings, partially offset by an increase in the average balance of FHLB advances and other borrowings of $394.9 million.

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The net interest margin for the three months ended June 30, 2015 was 3.43%, an increase of 4 basis points compared to 3.39% for the three months ended June 30, 2014. The average yield on interest-earning assets declined by 8 basis points for the three months ended June 30, 2015 as compared to the three months ended June 30, 2014, while the average rate paid on interest-bearing liabilities decreased by 10 basis points. The decline in the average yield on interest-earning assets was due primarily to the runoff of higher yielding acquired loan balances, and a reduction in the average interest rate on New loans.

Six Months of 2015 compared to Six Months of 2014

Net interest income was $99.1 million for the six months ended June 30, 2015, an increase of 24.6% compared to $79.5 million for the same period in 2014. The increase in net interest income reflects a $19.5 million increase in interest income, while interest expense remained flat over the period. For the six months ended June 30, 2015, average earning assets increased by $1.13 billion, or 24.6%, compared to the same period of the prior year, while average interest-bearing liabilities increased $819.2 million, or 21.1%, compared to the six months ended June 30, 2014. The increase in interest income for the six months ended June 30, 2015 was primarily due to a $21.0 million increase in interest income on New loans due to growth in the New loan portfolio. The average balance of New loans increased $1.38 billion, which offset the negative impact of the reduction in the average interest rate on New loans of 21 basis points. Interest income on acquired loans decreased $6.2 million for the six months ended June 30, 2015 compared to the six months ended June 30, 2014, primarily driven by a reduction in the average interest rate on acquired loans of 10 basis points and a decrease in the average balance of loans of $137.9 million due to runoff of the acquired loan portfolio.

Interest expense on deposits increased $434 thousand for the six months ended June 30, 2015 compared to the six months ended June 30, 2014 primarily due to a $379.7 million, or 11.8%, increase in the average balance of interest-bearing deposits. The cost of deposits improved to 56 basis points for the period due to the shift from higher costing time deposits to lower costing demand deposits. The average rate paid on time deposits, including the impact of premium amortization, was 0.97% and 0.93% for the six months ended June 30, 2015 and 2014, respectively. Interest expense on FHLB advances and other borrowings totaled $2.2 million for the six months ended June 30, 2015 as compared to $2.7 million for the six months ended June 30, 2014. The decrease was primarily due to a 41 basis point decrease in average rate paid on borrowings, partially offset by an increase in the average balance of FHLB advances and other borrowings of $439.5 million.

The net interest margin remained flat at 3.50% for the six months ended June 30, 2015 and 2014. The average yield on interest-earning assets declined by 12 basis points for the six months ended June 30, 2015 as compared to the six months ended June 30, 2014, while the average rate paid on interest-bearing liabilities decreased by 12 basis points. The decline in the average yield on interest-earning assets was due primarily to the runoff of higher yielding acquired loan balances, and a reduction in the average interest rate on New loans.

Provision for Loan Losses

Second Quarter 2015 compared to Second Quarter 2014

The provision for loan losses is used to maintain the ALL at a level that, in management’s judgment, is appropriate to absorb probable losses inherent in the portfolio at the balance sheet date. The provision for loan losses decreased by $766 thousand, or 23.7%, to $2.5 million for the three months ended June 30, 2015 as compared to the three months ended June 30, 2014. Provision for loan loss expense for the three months ended June 30, 2015 included a $2.3 million provision related to New loans and a $186 thousand provision for the acquired loan portfolio.

Net recoveries were $63 thousand for the second quarter of 2015, in comparison to net charge-offs of $846 thousand for the same period of 2014. The decrease in net charge-offs was due to resolution of acquired loans. Net recoveries were 0.01% of average loans on an annualized basis for the second quarter of 2015 compared to net charge-offs of 0.11% of average loans for the same period of 2014. There were no New loan portfolio charge-offs in the second quarter of 2015.

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Six Months of 2015 compared to Six Months of 2014

The provision for loan losses decreased by $507 thousand, or 11.7%, to $3.8 million for the six months ended June 30, 2015 as compared to the six months ended June 30, 2014. Provision for loan loss expense for the six months ended June 30, 2015 included a $3.6 million provision related to New loans and a $259 thousand provision for the acquired loan portfolio.

Net recoveries were $347 thousand for the six months ended June 30, 2015, in comparison to net charge-offs of $1.2 million for the same period of 2014. The decrease in net charge-offs was due to resolution of acquired loans. Net recoveries were 0.02% of average loans on an annualized basis for the six months ended June 30, 2015 compared to net charge-offs of 0.08% of average loans for the same period of 2014. There were no New loan portfolio charge-offs in the six months ended June 30, 2015.

Noninterest Income

The following table presents a summary of noninterest income. For expanded discussion of certain significant noninterest income items, refer to the discussion of each component following the table presented.

	Three Months Ended June 30,					Six Months Ended June 30,
	2015		2014			2015			2014
	(Dollars in thousands)
Noninterest income:
Service charges and fees	$	778	$	707		$	1,535		$	1,445
Loan and other fees		1,906		2,569			4,403			3,285
Bank-owned life insurance income		1,097		1,038			2,194			1,856
FDIC loss share indemnification loss		—		(5,247	)		(65,529	)		(10,239	)
Income from resolution of acquired assets		2,898		1,692			6,270			2,729
Gain (loss) on sales of other real estate owned		5,605		(359	)		7,170			72
Gain (loss) on investment securities		761		4,448			1,768			6,943
Other noninterest income		1,107		1,842			2,252			3,147
Total noninterest income	$	14,152	$	6,690		$	(39,937	)	$	9,238

Second Quarter 2015 compared to Second Quarter 2014

The Company reported noninterest income of $14.2 million for the three months ended June 30, 2015, an increase of $7.5 million compared to the three months ended June 30, 2014. The increase was primarily due to the increase in gains on sale of OREO, early termination of the FDIC loss share agreements, and an increase in income from resolution of acquired assets, partially offset by a decrease in gains on investment securities.

Net gain on sales of OREO increased by $6.0 million to $5.6 million for the three months ended June 30, 2015. The increase is primarily attributable to improved market conditions.

During the three months ended June 30, 2015, the Company had no FDIC loss share indemnification loss as compared to $5.2 million for the three months ended June 30, 2014. The decrease was driven by the early termination of all loss share agreements.

Recoveries recognized for the three months ended June 30, 2015 totaled $2.9 million and were recognized through earnings as received, compared to $1.7 million for the three months ended June 30, 2014. The Company continues to recognize resolution of acquired asset income stemming from its acquired asset portfolio. As a result of the early termination of the FDIC loss share agreements, the Company recognized all recoveries related to what was previously “covered assets” in its consolidated statement of income as these amounts are no longer shared with the FDIC.

Net gain on investment securities totaled $761 thousand for the three months ended June 30, 2015, a decrease of $3.7 million, or 82.9%, compared to $4.4 million for the three months ended June 30, 2014. The decrease was the result of the lower volume of investment security sales.

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Six Months of 2015 compared to Six Months of 2014

The Company reported noninterest income of $(39.9) million for the six months ended June 30, 2015 a decrease of $49.2 million compared to the six months ended June 30, 2014. The decrease was primarily due to the early termination of the FDIC loss share agreements, and a decrease in gains on investment securities partially offset by an increase in gains on sale of OREO, an increase in income from resolution of acquired assets, and increased loan and other fees income.

During the six months ended June 30, 2015, the Company recognized $65.5 million in FDIC loss share indemnification loss as compared to $10.2 million for the six months ended June 30, 2014. The increase was due to the one-time, pre-tax charge of $65.5 million in conjunction with the early termination of all loss share agreements.

Net gain on investment securities totaled $1.8 million for the six months ended June 30, 2015, a decrease of $5.2 million, or 74.5%, compared to $6.9 million for the six months ended June 30, 2014. The decrease was the result of the lower volume of investment security sales.

Net gain on sales of OREO increased by $7.1 million to $7.2 million for the six months ended June 30, 2015. The increase is primarily attributable to improved market conditions.

Recoveries recognized for the six months ended June 30, 2015 totaled $6.3 million and were recognized through earnings as received, compared to $2.7 million for the six months ended June 30, 2014. The Company continues to recognize resolution of acquired asset income stemming from its acquired asset portfolio. As a result of the early termination of the FDIC loss share agreements, the Company recognized all recoveries related to what was previously “covered assets” in its consolidated statement of income as these amounts are no longer shared with the FDIC.

Loan and other fees totaled $4.4 million for the six months ended June 30, 2015, an increase of $1.1 million compared to the six months ended June 30, 2014. The increase was primarily due to an increase in interest rate swap service fees of $582 thousand and an increase in secondary market fee income of $659 thousand.

Noninterest Expense

The following table presents the components of noninterest expense for the periods indicated:

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
	(Dollars in thousands)
Noninterest expense:
Salaries and employee benefits	$	17,856	$	13,411	$	34,431	$	29,831
Occupancy and equipment expenses		3,806		3,777		7,083		7,210
Loan and other real estate related expenses		1,425		3,338		3,501		7,099
Professional services		1,189		1,352		2,595		3,184
Data processing and network		2,801		2,357		5,519		5,567
Regulatory assessments and insurance		2,092		1,920		4,211		3,694
Amortization of intangibles		407		443		831		859
Other operating expenses		2,471		4,146		4,526		7,766
Total noninterest expense	$	32,047	$	30,744	$	62,697	$	65,210

Second Quarter 2015 compared to Second Quarter 2014

The Company reported noninterest expense of $32.0 million for the three months ended June 30, 2015 an increase of $1.3 million, or 4.2%, compared to the three months ended June 30, 2014. The increase for the period was primarily due to an increase in salaries and employee benefits of $4.4 million, offset by decreased loan and other real estate related expenses of $1.9 million and decreased other operating expenses of $1.7 million.

50

Salaries and employee benefits expenses increased by $4.4 million, or 33.1%, for the second quarter of 2015 compared to the prior year due to increased accruals for incentive compensation and the addition of eight new bankers in the Miami-Dade and Tampa markets.

OREO and acquired asset resolution expenses decreased by $1.9 million, or 57.3%, for the second quarter of 2015 compared to the prior year due to less workout activity and decreased volume of the legacy acquired loan and legacy OREO portfolios.

Other operating expenses decreased $1.7 million for the three months ended June 30, 2015, primarily due to decreased directors’ fees of $624 thousand and a decrease in EAA value changes of $452 thousand.

Six Months of 2015 compared to Six Months of 2014

The Company reported noninterest expense of $62.7 million for the six months ended June 30, 2015 a decrease of $2.5 million, or 3.9%, compared to the six months ended June 30, 2014. The decrease for the period was primarily due to decreased loan and other real estate related expenses of $3.6 million and decreased other operating expenses of $3.2 million, partially offset by a $4.6 million increase in salaries and employee benefits expenses.

OREO and acquired asset resolution expenses decreased by $3.6 million, or 50.7%, for the six months ended June 30, 2015 compared to the prior year due to less workout activity and decreased volume of the legacy acquired loan and legacy OREO portfolios.

Other operating expenses decreased $3.2 million for the six months ended June 30, 2015, primarily due to decreased directors’ fees of $1.9 million and a decrease in EAA value changes of $700 thousand.

Salaries and employee benefits expenses increased by $4.6 million, or 15.4%, for the second quarter of 2015 compared to the prior year due to increased accruals for incentive compensation and the addition of eight new bankers in the Miami-Dade and Tampa markets.

Provision for Income Taxes

Second Quarter 2015 compared to Second Quarter 2014

The income tax expense for the three months ended June 30, 2015 totaled $10.4 million, an increase of $5.7 million compared to an income tax expense of $4.7 million for the three months ended June 30, 2014. The increase in income tax expense was primarily due to an increase in income before income taxes of $15.9 million for the three months ended June 30, 2015. The effective income tax rate for the three months ended June 30, 2015 was a tax expense of 35.0%, compared to the tax expense rate of 33.9% for the three months ended June 30, 2014. The increase in tax rate is primarily due to higher levels of pre-tax income, which is subject to the marginal tax rate and changes in permanent tax differences.

Six Months of 2015 compared to Six Months of 2014

The income tax benefit for the six months ended June 30, 2015 totaled $9.9 million, an increase of $16.4 million compared to an income tax expense of $6.5 million for the six months ended June 30, 2014. The increase in income tax benefit was primarily due to a loss before income taxes of $7.4 million for the six months ended June 30, 2015. The effective income tax rate for the six months ended June 30, 2015 was a tax benefit of 133.8%, compared to the tax expense rate of 33.9% for the six months ended June 30, 2014. The change in tax rate primarily reflects the impact of the one-time, pre-tax charge of $65.5 million in conjunction with the early termination of all loss share agreements.

51

Analysis of Financial Condition

Total assets were $6.61 billion at June 30, 2015, an increase of $649.6 million, or 10.9%, from December 31, 2014. The increase in total assets includes an increase of $598.1 million in gross loans, of which New loans increased $704.1 million over the period. Acquired loans decreased by $106.0 million as a result of the run-off of the acquired loan portfolio through receipt of payments, loan payoffs or resolution through foreclosure and transfers to other real estate owned. The total securities portfolio was $1.50 billion at June 30, 2015, an increase of $74.7 million from December 31, 2014. The remaining increase in total assets was mainly due to increases in deferred tax assets of $29.3 million and other assets of $11.2 million which were offset by a decrease in the FDIC loss share indemnification asset of $63.2 million and a decrease in other real estate owned of $31.9 million.

Investment Securities

The Company’s investment policy has been established by the Board of Directors and dictates that investment decisions will be made based on, among other things, the safety of the investment, liquidity requirements, interest rate risk, potential returns, cash flow targets and consistency with our asset/liability management policy. The Bank’s Investment Committee is responsible for making investment security portfolio decisions in accordance with the established policies and in coordination with the Board’s Asset/Liability Committee. The Bank’s Investment Committee members, and Bank employees under the direction of such committee, have been delegated authority to purchase and sell securities within specified investment policy guidelines. Portfolio performance and activity are reviewed by the Bank’s Investment Committee and full Board of Directors on a periodic basis.

The Bank’s investment policy provides specific limits on investments depending on a variety of factors, including its asset class, issuer, credit rating, size, maturity, etc. The Bank’s current investment strategy includes maintaining a high credit quality, liquid, diversified portfolio invested in fixed and floating rate securities with short- to intermediate-term maturities. The purpose of this approach is to create a safe and sound investment portfolio that minimizes exposure to interest rate and credit risk while providing attractive relative yields given market conditions.

The Company’s investment securities portfolio primarily consists of U.S. government agencies and sponsored enterprises obligations and agency mortgage-backed securities, corporate debt, asset-backed securities and preferred stocks.

Total investment securities increased $74.7 million, or 5.2% compared to December 31, 2014.

No securities were determined to be OTTI as of June 30, 2015 or December 31, 2014. All securities at June 30, 2015 and December 31, 2014 were investment grade based on ratings from recognized rating agencies.

As a member institution of the FHLB and the Federal Reserve Bank (“FRB”), the Bank is required to own capital stock in the FHLB and the FRB. As of June 30, 2015 and December 31, 2014, the Bank held approximately $70.5 million and $66.9 million, respectively, in FHLB and FRB stock. No market exists for this stock, and the Bank’s investment can be liquidated only through repurchase by the FHLB or FRB. Such repurchases have historically been at par value. We monitor our investment in FHLB and FRB stock for impairment through review of recent financial results, dividend payment history and information from credit agencies. As of June 30, 2015 and December 31, 2014, respectively, management did not identify any indicators of impairment of FHLB and FRB stock.

52

The following table shows contractual maturities and yields on our investment securities available for sale. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Average yields are not presented on a tax equivalent basis.

	Maturity as of June 30, 2015
	One Year or Less				After One Year through Five Years					After Five Years through Ten Years					After Ten Years
	Amortized Cost		Average Yield		Amortized Cost		Average Yield			Amortized Cost		Average Yield			Amortized Cost		Average Yield
	(Dollars in thousands)
Available for sale:
U.S. Government agencies and sponsored enterprises obligations	$	—		—	$	—		—		$	5,306		2.57	%	$	—		—
U.S. Government agencies and sponsored enterprises mortgage-backed securities		—		—		5,611		2.17	%		247,192		2.22	%		122,258		2.25	%
State and municipal obligations		—		—		—		—			—		—			2,040		5.35	%
Asset-backed securities		—		—		19,376		3.67	%		292,736		2.90	%		144,800		2.70	%
Corporate bonds and other debt securities		—		—		81,627		3.26	%		73,077		3.93	%		264,849		4.88	%
Preferred stock and other equity securities (1)		—		—		—		—			—		—			171,150		5.47	%
Total available for sale	$	—			$	106,614		3.28	%	$	618,311		2.75	%	$	705,097		4.12	%

(1) Preferred stock securities are all fixed-to-floating rate perpetual preferred stock that are callable through June 2025.

As of June 30, 2015, the effective duration of the Bank’s investment portfolio is estimated to be approximately 3.38 years. This estimate is derived using a variety of inputs that are subject to change based on a variety of factors, including but not limited to, changes in interest rates and prepayment speeds.

The average balance of the securities portfolio for the quarter ended June 30, 2015 totaled $1.59 billion with an annualized pre-tax yield of 3.27%. The average balance of the securities portfolio for the six months ended June 30, 2015 totaled $1.54 billion with an annualized pre-tax yield of 3.27%.

Except for securities issued by U.S. government agencies and sponsored enterprise obligations, we did not have any concentrations where the total outstanding balances issued by a single issuer exceeded 10% of our stockholders’ equity as of June 30, 2015 or December 31, 2014.

Loans

Loan concentration

The current concentrations in our loan portfolio may not be indicative of concentrations in our loan portfolio in the future. We plan to maintain a relatively diversified loan portfolio to help reduce the risk inherent in concentration in certain types of collateral.

53

The following table summarizes the allocation of New Loans, Acquired ASC 310-30 loans and Acquired Non-ASC 310-30 loans as of the dates presented:

	June 30, 2015					December 31, 2014
	Amount		% of Total			Amount		% of Total
	(Dollars in thousands)
New loans:
Commercial real estate	$	942,424		20.8	%	$	853,074		21.7	%
Owner-occupied commercial real estate		400,438		8.8	%		281,703		7.2	%
1-4 single family residential		1,248,625		27.6	%		922,657		23.5	%
Construction, land and development		349,659		7.7	%		232,601		5.9	%
Home equity loans and lines of credit		22,798		0.5	%		11,826		0.3	%
Total real estate loans	$	2,963,944		65.4	%	$	2,301,861		58.6	%
Commercial and industrial		837,270		18.6	%		795,000		20.2	%
Consumer		6,333		0.1	%		6,556		0.2	%
Total new loans	$	3,807,547		84.1	%	$	3,103,417		79.0	%
Acquired ASC 310-30 loans:
Commercial real estate		286,337		6.3	%	$	336,935		8.6	%
1-4 single family residential		76,849		1.7	%		86,308		2.2	%
Construction, land and development		55,453		1.2	%		66,700		1.7	%
Total real estate loans	$	418,639		9.2	%	$	489,943		12.5	%
Commercial and industrial		58,045		1.3	%		67,498		1.7	%
Consumer		2,524		0.1	%		2,803		0.1	%
Total acquired ASC 310-30 loans	$	479,208		10.6	%	$	560,244		14.3	%
Acquired non-ASC 310-30 loans:
Commercial real estate		62,473		1.4	%	$	70,146		1.8	%
Owner-occupied commercial real estate		19,860		0.4	%		14,842		0.4	%
1-4 single family residential		86,754		1.9	%		102,279		2.6	%
Construction, land and development		8,610		0.2	%		9,729		0.2	%
Home equity loans and lines of credit		52,971		1.2	%		54,704		1.4	%
Total real estate loans	$	230,668		5.1	%	$	251,700		6.4	%
Commercial and industrial		9,654		0.2	%		13,548		0.3	%
Consumer		645		0.0	%		681		0.0	%
Total acquired non-ASC 310-30 loans		240,967		5.3	%		265,929		6.7	%
Total loans	$	4,527,722		100.0	%	$	3,929,590		100.0	%

Total loans were $4.53 billion at June 30, 2015, an increase of 15.2% compared to $3.93 billion at December 31, 2014.

Our New loan portfolio increased by 22.7% to $3.81 billion as of June 30, 2015, as compared to $3.10 billion at December 31, 2014. The increase during the six months ended June 30, 2015 was primarily due to an increase in 1-4 single family residential loans and organic growth in commercial real estate and commercial and industrial loans.

Acquired loans were $720.2 million at June 30, 2015, a decrease of 12.8% compared to $826.2 million at December 31, 2014. The decrease during the six months ended June 30, 2015 was primarily due to the run-off of the acquired loan portfolio through receipt of payments, loan payoffs or resolution through foreclosure and transfers to other real estate owned.

54

Asset Quality

The following table sets forth the composition of our nonperforming assets, including nonaccruals loans, accruing loans 90 days or more days past due and foreclosed assets as of the dates indicated:

	June 30, 2015		December 31, 2014
	(Dollars in thousands)
Nonperforming assets (excluding acquired assets)
Nonaccrual loans:
Commercial real estate	$	—	$	—
Owner-occupied commercial real estate		—		—
1-4 single family residential		—		116
Construction, land and development		—		—
Home equity loans and lines of credit		—		—
Commercial and industrial		14		—
Consumer		—		—
Total nonaccrual loans		14		116
Accruing loans 90 days or more past due		—		—
Total nonperforming loans		14		116
Other real estate owned (OREO)		—		—
Other foreclosed property		—		—
Total new nonperforming assets	$	14	$	116
Nonperforming acquired assets
Nonaccrual loans:
Commercial real estate	$	4,865	$	4,866
Owner-occupied commercial real estate		5		211
1-4 single family residential		1,649		1,766
Construction, land and development		658		1,595
Home equity loans and lines of credit		2,806		3,005
Commercial and industrial		7,362		7,851
Consumer		322		—
Total nonaccrual loans		17,667		19,294
Accruing loans 90 days or more past due		—		—
Total nonperforming loans		17,667		19,294
Other real estate owned (OREO)		42,654		74,527
Other foreclosed property		—		—
Total acquired nonperforming assets	$	60,321	$	93,821
Total nonperforming assets	$	60,335	$	93,937

Nonaccrual loans totaled $17.7 million at June 30, 2015, a decrease of 8.9% from $19.4 million at December 31, 2014. Nonperforming assets totaled $60.3 million at June 30, 2015, a decrease of $33.6 million, or 35.8%, from December 31, 2014.

55

Our policies related to when loans are placed on nonaccrual status conform to guidelines prescribed by bank regulatory authorities. Loans are placed on nonaccrual status when it is probable that principal or interest is not fully collectible, or generally when principal or interest becomes 90 days past due, whichever occurs first. Certain loans past due 90 days or more may remain on accrual status if management determines that it does not have concern over the collectability of principal and interest because the loan is secured by assets with a value in excess of the amounts owed and is in the process of collection. Loans are removed from nonaccrual status when they become current as to both principal and interest and concern no longer exists as to the collectability of principal and interest.

Loans accounted for under ASC 310-30 that are delinquent and/or on nonaccrual status continue to accrue income provided the respective pool in which those assets reside maintains a discount and recognizes accretion income. The aforementioned loans are characterized as performing loans greater than 90 days past due. If the pool no longer has a discount and accretion income can no longer be recognized, any loan within that pool on nonaccrual status will be classified as nonaccrual for presentation purposes.

Loans are identified for restructuring based on their delinquency status, risk rating downgrade, or at the request of the borrower. Borrowers that are 90 days delinquent and/or have a history of being delinquent, or experience a risk rating downgrade, are contacted to discuss options to bring the loan current, cure credit risk deficiencies, or other potential restructuring options that will reduce the inherent risk and improve collectability of the loan. In some instances, a borrower will initiate a request for loan restructure. The Bank requires borrowers to provide current financial information to establish the need for financial assistance and satisfy applicable prerequisite conditions required by the Bank. The Bank may also require the borrower to enter into a forbearance agreement.

Modification of loan terms may include the following: reduction of the stated interest rate; extension of maturity date or other payment dates; reduction of the face amount or maturity amount of the loan; reduction in accrued interest; forgiveness of past-due interest; or a combination of the above.

The following table sets forth our asset quality ratios for the periods presented:

	June 30, 2015			December 31, 2014
Asset Quality Ratios
Asset and Credit Quality Ratios - New Loans
Nonperforming new loans to new loans receivable		0.00	%		0.00	%
New loan ALL to total gross new loans		0.51	%		0.52	%
Asset and Credit Quality Ratios - Acquired Loans
Nonperforming acquired loans to acquired loans receivable		2.45	%		2.34	%
Covered acquired loans to total gross acquired loans		0.00	%		33.09	%
Acquired loan ALL to total gross acquired loans		1.04	%		0.83	%
Asset and Credit Quality Ratios - Total loans
Nonperforming loans to loans receivable		0.39	%		0.49	%
Nonperforming assets to total assets		0.91	%		1.58	%
Covered loans to total gross loans		0.00	%		6.96	%
ALL to nonperforming assets		44.83	%		24.36	%
ALL to total gross loans		0.60	%		0.58	%

56

Analysis of the Allowance for Loan Losses

The ALL reflects management’s estimate of probable credit losses inherent in the loan portfolio. The computation of the ALL includes elements of judgment and subjectivity. As a portion of the Company’s loans were acquired in failed bank acquisitions and were purchased at a substantial discount to their original book value, we segregate loans into three buckets when assessing and analyzing the ALL: New loans, Acquired ASC 310-30 loans, Acquired Non-ASC 310-30 loans.

57

The following table presents the allocation of the ALL for the periods presented. The entire amount of the allowance is available to absorb losses occurring in any category of loans.

	June 30, 2015					December 31, 2014
	Amount		% Loans in each category			Amount		% Loans in each category
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	5,692		20.8	%	$	4,456		21.7	%
Owner-occupied commercial real estate		1,494		8.8	%		962		7.2	%
1-4 single family residential		5,139		27.6	%		4,001		23.5	%
Construction, land and development		2,175		7.7	%		1,723		5.9	%
Home equity loans and lines of credit		131		0.5	%		70		0.3	%
Total real estate loans		14,631		65.4	%		11,212		58.6	%
Other loans:
Commercial and industrial		4,885		18.6	%		4,738		20.2	%
Consumer		63		0.1	%		62		0.2	%
Total other loans		4,948		18.7	%		4,800		20.4	%
Total new loans	$	19,579		84.1	%	$	16,012		79.0	%
Acquired ASC 310-30 loans:
Real estate loans:
Commercial real estate	$	2,585		6.3	%	$	3,255		8.6	%
1-4 single family residential		270		1.7	%		325		2.2	%
Construction, land and development		793		1.2	%		658		1.7	%
Total real estate loans		3,648		9.2	%		4,238		12.5	%
Other loans:
Commercial and industrial		1,133		1.3	%		958		1.7	%
Consumer		387		0.1	%		290		0.1	%
Total other loans		1,520		1.4	%		1,248		1.8	%
Total Acquired ASC 310-30 loans	$	5,168		10.6	%	$	5,486		14.3	%
Acquired Non-ASC 310-30 loans:
Real estate loans:
Commercial real estate	$	1,375		1.4	%	$	495		1.8	%
Owner-occupied commercial real estate		54		0.4	%		58		0.4	%
1-4 single family residential		335		1.9	%		414		2.6	%
Construction, land and development		56		0.2	%		75		0.2	%
Home equity loans and lines of credit		432		1.2	%		285		1.4	%
Total real estate loans		2,252		5.1	%		1,327		6.4	%
Other loans:
Commercial and industrial		41		0.2	%		49		0.3	%
Consumer		6		0.0	%		6		0.0	%
Total other loans		47		0.2	%		55		0.3	%
Total Acquired Non-ASC 310-30 loans	$	2,299		5.3	%	$	1,382		6.7	%
Total loans	$	27,046		100.0	%	$	22,880		100.0	%

58

The following tables present information related to the ALL for the periods presented:

	Commercial Real Estate			Owner- Occupied Commercial Real Estate			1- 4 Single Family Residential			Construction, Land and Development			Home Equity Loans and Lines of Credit		Commercial and Industrial			Consumer			Total
	(Dollars in thousands)
Balance at April 1, 2015	$	9,296		$	1,252		$	5,213		$	2,312		$	398	$	5,705		$	337		$	24,513
Provision (credit) for ASC 310-30 loans		(784	)		—			(63	)		(178	)		—		143			115			(767	)
Provision for non-ASC 310-30 loans		848			(7	)		(7	)		(12	)		143		(11	)		(1	)		953
Provision for New loans		383			303			755			633			22		183			5			2,284
Total provision		447			296			685			443			165		315			119			2,470
Charge-offs for ASC 310-30 loans		(109	)		—			(121	)		—			—		(45	)		—			(275	)
Charge-offs for non-ASC 310-30 loans		—			—			(63	)		—			—		—			—			(63	)
Charge-offs for New loans		—			—			—			—			—		—			—			—
Total charge-offs		(109	)		—			(184	)		—			—		(45	)		—			(338	)
Recoveries for ASC 310-30 loans		18			—			30			269			—		82			—			399
Recoveries for non-ASC 310-30 loans		—			—			—			—			—		—			—			—
Recoveries for New loans		—			—			—			—			—		2			—			2
Total recoveries		18			—			30			269			—		84			—			401
Ending ALL balance
ASC 310-30 loans		2,585			—			270			793			—		1,133			387			5,168
Non-ASC 310-30 loans		1,375			54			335			56			432		41			6			2,299
New loans		5,692			1,494			5,139			2,175			131		4,885			63			19,579
Balance at June 30, 2015	$	9,652		$	1,548		$	5,744		$	3,024		$	563	$	6,059		$	456		$	27,046

	Commercial Real Estate		Owner- Occupied Commercial Real Estate		1- 4 Single Family Residential			Construction, Land and Development			Home Equity Loans and Lines of Credit			Commercial and Industrial			Consumer			Total
	(Dollars in thousands)
Balance at April 1, 2014	$	5,088	$	435	$	1,587		$	1,900		$	151		$	5,977		$	356		$	15,494
Provision (credit) for ASC 310-30 loans		191		—		212			(31	)		—			(539	)		(34	)		(201	)
Provision for non-ASC 310-30 loans		2		2		(45	)		—			89			16			32			96
Provision for New loans		982		369		702			499			(65	)		849			5			3,341
Total provision		1,175		371		869			468			24			326			3			3,236
Charge-offs for ASC 310-30 loans		—		—		(30	)		(444	)		—			(32	)		(4	)		(510	)
Charge-offs for non-ASC 310-30 loans		—		—		—			—			(62	)		—			(29	)		(91	)
Charge-offs for New loans		—		—		—			—			—			(348	)		—			(348	)
Total charge-offs		—		—		(30	)		(444	)		(62	)		(380	)		(33	)		(949	)
Recoveries for ASC 310-30 loans		91		—		—			11			—			1			—			103
Recoveries for non-ASC 310-30 loans		—		—		—			—			—			—			—			—
Recoveries for New loans		—		—		—			—			—			—			—			—
Total recoveries		91		—		—			11			—			1			—			103
Ending ALL balance
ASC 310-30 loans		2,883		—		207			660			—			1,359			298			5,407
Non-ASC 310-30 loans		8		7		7			—			32			6			3			63
New loans		3,463		799		2,212			1,275			81			4,559			25			12,414
Balance at June 30, 2014	$	6,354	$	806	$	2,426		$	1,935		$	113		$	5,924		$	326		$	17,884

59

	Commercial Real Estate			Owner- Occupied Commercial Real Estate			1- 4 Single Family Residential			Construction, Land and Development			Home Equity Loans and Lines of Credit		Commercial and Industrial			Consumer			Total
	(Dollars in thousands)
Balance at January 1, 2015	$	8,206		$	1,020		$	4,740		$	2,456		$	355	$	5,745		$	358		$	22,880
Provision (credit) for ASC 310-30 loans		(865	)		—			1			(198	)		—		119			157			(786	)
Provision (credit) for non-ASC 310-30 loans		880			(4	)		49			(19	)		147		(8	)		—			1,045
Provision (credit) for New loans		1,236			532			1,138			452			61		140			1			3,560
Total provision		1,251			528			1,188			235			208		251			158			3,819
Charge-offs for ASC 310-30 loans		(205	)		—			(207	)		(56	)		—		(75	)		(60	)		(603	)
Charge-offs for non-ASC 310-30 loans		—			—			(128	)		—			—		—			—			(128	)
Charge-offs for New loans		—			—			—			—			—		—			—			—
Total charge-offs		(205	)		—			(335	)		(56	)		—		(75	)		(60	)		(731	)
Recoveries for ASC 310-30 loans		400			—			151			389			—		131			—			1,071
Recoveries for non-ASC 310-30 loans		—			—			—			—			—		—			—			—
Recoveries for New loans		—			—			—			—			—		7			—			7
Total recoveries		400			—			151			389			—		138			—			1,078
Ending ALL balance
ASC 310-30 loans		2,585			—			270			793			—		1,133			387			5,168
Non-ASC 310-30 loans		1,375			54			335			56			432		41			6			2,299
New loans		5,692			1,494			5,139			2,175			131		4,885			63			19,579
Balance at June 30, 2015	$	9,652		$	1,548		$	5,744		$	3,024		$	563	$	6,059		$	456		$	27,046

	Commercial Real Estate			Owner- Occupied Commercial Real Estate		1- 4 Single Family Residential			Construction, Land and Development			Home Equity Loans and Lines of Credit			Commercial and Industrial			Consumer			Total
	(Dollars in thousands)
Balance at January 1, 2014	$	4,458		$	376	$	1,443		$	1,819		$	265		$	6,198		$	174		$	14,733
Provision (credit) for ASC 310-30 loans		191			—		152			133			—			(871	)		232			(163	)
Provision (credit) for non-ASC 310-30 loans		3			2		(45	)		—			(4	)		24			32			12
Provision (credit) for New loans		1,685			428		906			441			(45	)		1,054			8			4,477
Total provision		1,879			430		1,013			574			(49	)		207			272			4,326
Charge-offs for ASC 310-30 loans		(74	)		—		(30	)		(1,245	)		—			(110	)		(91	)		(1,550	)
Charge-offs for non-ASC 310-30 loans		—			—		—			—			(103	)		(24	)		(29	)		(156	)
Charge-offs for New loans		—			—		—			—			—			(348	)		—			(348	)
Total charge-offs		(74	)		—		(30	)		(1,245	)		(103	)		(482	)		(120	)		(2,054	)
Recoveries for ASC 310-30 loans		91			—		—			787			—			1			—			879
Recoveries for non-ASC 310-30 loans		—			—		—			—			—			—			—			—
Recoveries for New loans		—			—		—			—			—			—			—			—
Total recoveries		91			—		—			787			—			1			—			879
Ending ALL balance
ASC 310-30 loans		2,883			—		207			660			—			1,359			298			5,407
Non-ASC 310-30 loans		8			7		7			—			32			6			3			63
New loans		3,463			799		2,212			1,275			81			4,559			25			12,414
Balance at June 30, 2014	$	6,354		$	806	$	2,426		$	1,935		$	113		$	5,924		$	326		$	17,884

As of June 30, 2015, our New loans have exhibited limited delinquency and credit loss history to establish an observable loss trend. Given this lack of sufficient loss history on the New loan portfolio, general loan loss factors are established based on the following: historical loss factors derived from the Federal Financial Institutions Examination Council’s quarterly Unified Performance Branch Report for Group 1 banks (assets greater than $3 billion) using an annualized weighted average eight quarter rolling basis. Historical loss factors are adjusted for qualitative factors including trends in delinquencies and nonaccruals, production trends, average risk ratings and loan-to-value ratios, current industry conditions, general economic conditions, credit concentrations by portfolio and asset categories and portfolio quality. Other adjustments for qualitative factors may be made to the ALL after an assessment of internal and external influences on credit quality and loss severity that are not fully reflected in the historical loss or risk rating data. The Company uses assumptions and methodologies that are relevant to estimating the level of impairment and probable losses in the loan portfolio. To the extent that the data supporting such assumptions has limitations, management’s judgment and experience play a role in recording the allowance estimates.

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The ALL increased $4.2 million to $27.0 million at June 30, 2015 from $22.9 million at December 31, 2014, primarily due to the increase in New loans of $704.1 million. The ALL as a percentage of nonperforming assets and the ALL as a percentage of total gross loans was 44.83% and 0.60% as of June 30, 2015, compared to 24.36% and 0.58% at December 31, 2014. The increase in both ratios was the result of the decrease in the acquired loan portfolio, slightly offset by the increase in the allowance on acquired loans. The allowance coverage ratio on New loans remained relatively flat over the same period.

Net loan recoveries for the second quarter of 2015 totaled $63 thousand, a decrease of 107.4% compared to net loan charge-offs of $846 thousand for the same period of 2014. Net loan recoveries for the six months ended June 30, 2015 totaled $347 thousand, a decrease of 129.5% compared to net loan charge-offs of $1.2 million for the same period of 2014.

FDIC Loss Share Indemnification Asset

On March 4, 2015, the Bank entered into an agreement with the FDIC to terminate all loss sharing agreements which were entered into in 2010 and 2011 in conjunction with the Bank’s acquisition of substantially all of the assets (“Covered Assets”) and assumption of substantially all of the liabilities of six failed banks in FDIC-assisted acquisitions. Under the early termination, all rights and obligations of the Bank and the FDIC under the loss share agreements, including the clawback provisions, have been eliminated.

The Bank paid the FDIC $14.8 million as consideration for the early termination to settle its obligation under the FDIC Clawback Liability. The early termination was recorded in the Bank’s financial statements by removing the FDIC Indemnification Asset receivable, the FDIC Clawback liability and recording a one-time, pre-tax loss on termination of $65.5 million.

The following tables summarize the activity related to the FDIC loss share indemnification asset for the periods presented:

	Three Months Ended June 30,					Six Months Ended June 30,
	2015		2014			2015			2014
	(Dollars in thousands)
Balance at beginning of period	$	—	$	80,605		$	63,168		$	87,229
Termination of FDIC loss sharing agreements		—		—			(63,168	)		—
Reimbursable expenses		—		1,427			—			3,153
Amortization		—		(5,406	)		—			(11,405	)
Income resulting from impairment and charge-off of covered assets, net		—		456			—			1,206
Expense resulting from recoupment and disposition of covered assets, net		—		(1,260	)		—			(2,423	)
FDIC claims submissions		—		(969	)		—			(2,907	)
Balance at end of period	$	—	$	74,853		$	—		$	74,853

The following table summarizes the changes in the clawback liability, included in Other Liabilities, for the periods presented:

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015			2014
	(Dollars in thousands)
Balance at beginning of period	$	—	$	12,060	$	13,846		$	11,753
Termination of FDIC loss sharing agreements		—		—		(13,846	)		—
Amortization impact		—		181		—			357
Remeasurement impact		—		284		—			415
Balance at end of period	$	—	$	12,525	$	—		$	12,525

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Other Real Estate Owned

The following table shows the composition of other real estate owned as of the periods presented:

	June 30, 2015		December 31, 2014
	(Dollars in thousands)
Commercial real estate	$	6,790	$	22,267
1-4 single family residential		3,585		12,623
Construction, land and development		32,279		39,637
Total	$	42,654	$	74,527

The following table summarizes the activity related to other real estate owned for the periods presented:

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(Dollars in thousands)
Balance at beginning of period	$	75,017		$	86,244		$	74,527		$	34,682
Additions from acquisition		—			810			—			55,085
Transfers from loan portfolio		2,168			2,529			14,835			12,869
Impairments		(69	)		(287	)		(173	)		(732	)
Sales		(34,462	)		(8,308	)		(46,535	)		(20,916	)
Balance at end of period	$	42,654		$	80,988		$	42,654		$	80,988

Total OREO held by the Company was $42.7 million as of June 30, 2015, a decrease of $31.9 million from December 31, 2014. The decrease in other real estate owned was due to OREO sales of $46.5 million for the six months ended June 30, 2015.

Deposits

The following table shows the deposit mix as of the periods presented:

	June 30, 2015					December 31, 2014
	Amount		Percent of Total			Amount		Percent of Total
	(Dollars in thousands)
Noninterest-bearing demand deposits	$	621,845		13.9	%	$	593,025		14.9	%
Interest-bearing demand deposits		288,990		6.5	%		122,380		3.1	%
Interest-bearing NOW accounts		414,795		9.3	%		374,399		9.4	%
Savings and money market accounts		1,882,706		42.2	%		1,811,878		45.5	%
Time deposits		1,257,751		28.1	%		1,076,853		27.1	%
Total deposits	$	4,466,087		100.0	%	$	3,978,535		100.0	%

Deposits at June 30, 2015 totaled $4.47 billion, an increase of $487.6 million, or 12.3%, from December 31, 2014. The increase in deposits consisted of a $306.7 million increase in core deposits and a $180.9 million increase in time deposits. Core deposits include demand deposits, NOW accounts, savings and money market accounts and represents 71.8% of total deposits at June 30, 2015, a decrease from 72.9% at December 31, 2014.

The increase in core deposits was primarily due to growth in demand deposits due to retail marketing efforts and commercial relationship growth. The average rate paid on deposits for the three and six months ended June 30, 2015 was 0.57% and 0.56%, respectively. This represents a decrease of 5 and 6 basis points as compared to the average rate paid on deposits of 0.62% and 0.62% for the three and six months ended June 30, 2014. Continued reductions of high cost acquired time deposits and a higher composition of noninterest-bearing deposits drove the decrease in the cost of deposits. The average rate paid on time deposits for the three and six months ended June 30, 2015 was 1.00% and 0.97%, respectively. This represents an increase of 12 and 4 basis points compared to the average rate paid on time deposits for the three and six months ended June 30, 2014 of 0.88% and 0.93%, respectively.

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The following table shows the remaining maturity of time deposits of $100,000 and greater as of the period presented:

	June 30, 2015
	(Dollars in thousands)
Time deposits $100,000 or greater with remaining maturity of:
Three months or less		63,517
After three months through six months		155,229
After six months through twelve months		318,195
After twelve months		296,886
Total	$	833,827

Borrowings

In addition to deposits, we utilize advances from the FHLB and other borrowings, such as securities sold under repurchase agreements, as a supplementary funding source to finance our operations. FHLB advances and other borrowings are secured by stock, qualifying first residential mortgages, commercial real estate loans, home equity loans and investment securities.

Total borrowings consisted of the following as of the periods presented:

	June 30, 2015		December 31, 2014
	(Dollars in thousands)
FHLB advances	$	1,093,100	$	983,686
Securities sold under repurchase agreements		128,856		72,500
Retail repurchase agreements		6,138		5,704
Total contractual outstanding		1,228,094		1,061,890
Fair value adjustment		4,799		6,091
Total borrowings	$	1,232,893	$	1,067,981

At June 30, 2015, total borrowings were $1.23 billion, an increase of $164.9 million, or 15.4%, from $1.07 billion at December 31, 2014. The increase in total borrowings was primarily driven by the $109.4 million increase in FHLB advances and $56.4 million in securities sold under repurchase agreements to fund new loan growth.

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Short-term borrowings consist of debt with maturities of one year or less and the current portion of long-term debt. The following table is a summary of short-term borrowings for the periods presented:

	As of/For the Three Months Ended June 30,						As of/For the Six Months Ended June 30,
	2015			2014			2015			2014
	(Dollars in thousands)
Short-Term FHLB advances:
Maximum outstanding at any month-end during the period	$	809,850		$	720,260		$	809,850		$	720,260
Balance outstanding at end of period		809,850			570,500			809,850			570,500
Average outstanding during the period		730,656			648,646			684,103			569,544
Average interest rate during the period		0.26	%		0.62	%		0.25	%		0.66	%
Average interest rate at the end of the period		0.32	%		0.58	%		0.32	%		0.58	%

Stockholders’ Equity

The following table summarizes the changes in our stockholders’ equity for the periods indicated:

	Three Months Ended June 30,					Six Months Ended June 30,
	2015			2014		2015			2014
	(Dollars in thousands)
Balance at beginning of period	$	846,834		$	723,869	$	851,653		$	716,114
Net income (loss)		19,376			9,166		2,502			12,694
Stock-based compensation, RSU and warrant expense		2,363			452		3,874			888
Treasury stock purchase		(802	)				(802	)
Exercise of stock options		203			—		873			—
Other		(21	)		—		(20	)		—
Other comprehensive income (loss)		(10,474	)		5,961		(601	)		9,752
Balance at end of period	$	857,479		$	739,448	$	857,479		$	739,448

For the three months ended June 30, 2015 the Company reported net income of $19.4 million, an increase of $10.2 million, compared to net income of $9.2 million for the three months ended June 30, 2014. The Company’s results of operations for the three months ended June 30, 2015 produced an annualized return on average assets of 1.23% and an annualized return on average common stockholders’ equity of 9.09% compared to the three months ended June 30, 2014 ratios of 0.69% and 5.02%, respectively.

For the six months ended June 30, 2015 the Company reported net income of $2.5 million, a decrease of $10.2 million, compared to net income of $12.7 million for the six months ended June 30, 2014. The Company’s results of operations for the period ended June 30, 2015 produced an annualized return on average assets of 0.08% and an annualized return on average common stockholders’ equity of 0.59% compared to prior year ratios of 0.51% and 3.52%, respectively. The decreases were primarily due to a net loss incurred for the first quarter of 2015 as a result of the early termination of all loss share agreements on March 4, 2015.

Stockholders’ equity totaled $857.5 million as of June 30, 2015, an increase of $5.8 million from $851.7 million as of December 31, 2014, primarily driven by net income of $2.5 million and stock-based compensation expense of $3.9 million.

Capital Resources

Our Company and Bank are subject to regulatory capital adequacy requirements promulgated by federal bank regulatory agencies. Failure by our Company or Bank to meet minimum capital requirements could result in certain mandatory and discretionary actions by regulators that could have a material adverse effect on our consolidated financial statements. The Federal Reserve establishes capital requirements for our Company and the OCC has similar requirements for our Bank. Information presented for June 30, 2015, reflects the Basel III capital requirements that became effective January 1, 2015 for both our Company and Bank. Under these capital requirements and the regulatory framework for prompt corrective action, our Company and Bank must meet specific capital guidelines that involve quantitative measures of our Company and Bank’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. Our Company’s and Bank’s capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weightings and other factors.

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Quantitative measures established by regulation require our Company and Bank to maintain certain minimum capital amounts and ratios. Federal bank regulators require our Company and Bank to maintain minimum ratios of core capital to adjusted average assets of 4.0%, common equity tier 1 capital to risk-weighted assets of 4.5%, tier 1 capital to risk-weighted assets of 6.0% and total risk-based capital to risk-weighted assets of 8.0%. At June 30, 2015, our Company and Bank met all the capital adequacy requirements to which they were subject. At June 30, 2015, the Company and Bank were “well capitalized” under the regulatory framework for prompt corrective action. To be “well capitalized,” our Company and Bank must maintain minimum leverage, common equity tier 1 risk-based, tier 1 risk-based and total risk-based capital ratios of at least 5.0%, 6.5%, 8.0% and 10.0%, respectively. Management believes that no conditions or events have occurred since June 30, 2015 that would materially adversely change the Company’s or Bank’s capital classifications. From time to time, we may need to raise additional capital to support our Company’s and Bank’s further growth and to maintain their “well capitalized” status.

The Company and Bank’s regulatory capital ratios are as follows:

	Minimum Capital Requirement			Minimun to be Well Capitalized			June 30, 2015			December 31, 2014
Capital Ratios (Company)
Tier 1 leverage ratio		4.0	%		5.0	%		12.3	%		12.8	%
Common equity tier 1 capital ratio		4.5	%		6.5	%		14.9	%		N/A
Tier 1 risk-based capital ratio		6.0	%		8.0	%		14.9	%		17.0	%
Total risk-based capital ratio		8.0	%		10.0	%		15.5	%		17.6	%
Capital Ratios (Bank)
Tier 1 leverage ratio		4.0	%		5.0	%		10.7	%		10.4	%
Common equity tier 1 capital ratio		4.5	%		6.5	%		13.0	%		N/A
Tier 1 risk-based capital ratio		6.0	%		8.0	%		13.0	%		13.9	%
Total risk-based capital ratio		8.0	%		10.0	%		13.5	%		14.5	%

The Bank and, with respect to certain provisions, the Company, is also subject to an Order of the FDIC, dated January 22, 2010, issued in connection with the FDIC’s approval of the Bank’s application for federal deposit insurance. The Order requires, among other things, the Bank to maintain capital levels sufficient to be well capitalized under regulatory standards during the remaining period of ownership of the investors (as defined in the Order) subject to the SOP. As of June 30, 2015 and December 31, 2014, we believe the Company and Bank both had capital levels that exceeded the regulatory guidelines for a “well capitalized” institution.

As of June 30, 2015, the Company had a Tier 1 leverage ratio of 12.3%, which provided $457.0 million of excess capital relative to the minimum requirements to be considered well capitalized. As of June 30, 2015, the Bank had a Tier 1 leverage ratio of 10.7%, which provided $342.5 million of excess capital relative to the minimum requirements to be considered well capitalized.

Beginning January 1, 2016, Basel III implements a requirement for all banking organizations to maintain a capital conservation buffer above the minimum risk-based capital requirements in order to avoid certain limitations on capital distributions, stock repurchases and discretionary bonus payments to executive officers. The capital conservation buffer will be exclusively composed of common equity tier 1 capital, and it applies to each of the three risk-based capital ratios but not the leverage ratio. On January 1, 2016, our Company and Bank will be expected to comply with the capital conservation buffer requirement, which will increase the three risk-based capital ratios by 0.625% each year through 2019, at which point, the common equity tier 1 risk-based, tier 1 risk-based and total risk-based capital ratios will be 7.0%, 8.5% and 10.5%, respectively. If the capital conservation buffer were in effect at June 30, 2015, our Company and Bank would exceed the requirements. The capital planning process and position is monitored by the Enterprise Risk Committee.

65

Liquidity

Liquidity represents the Company’s ability to meet financial commitments through the maturity and sale of existing assets or availability of additional funds. Liquidity risk results from the mismatching of asset and liability cash flows. The Bank’s liquidity needs are primarily met by its cash and securities position, growth in deposits, cash flow from amortizing investment and loan portfolios and borrowings from the FHLB. For additional information regarding our operating, investing, and financing cash flows, see “Consolidated Financial Statements—Consolidated Statements of Cash Flows.”

The Bank has access to additional borrowings through secured FHLB advances, unsecured borrowing lines from correspondent banks, and repurchase agreements (secured). In addition, the Bank has an established borrowing line at the Federal Reserve Bank. At June 30, 2015, the Company had additional capacity to borrow from the FHLB of $499.1 million. Also, at June 30, 2015, the Company has unused credit lines with financial institutions of $72.5 million.

We believe the Bank’s cash and liquidity resources generated by operations and deposit growth will be sufficient to satisfy the Bank’s future funding requirements. The Bank’s ongoing liquidity position is monitored by the Asset Liability Committee (“ALCO”) and the Enterprise Risk Committee.

As a holding company, we are a corporation separate and apart from our subsidiary, the Bank, and therefore we provide for our own liquidity. Our main sources of funding include equity capital raised in our offerings of equity securities and dividends paid by the Bank, when applicable, and access to capital markets. We believe these sources will be sufficient to fund our capital needs for the foreseeable future. There are regulatory limitations that affect the ability of the Bank to pay dividends to us. See “Dividend Policy” and “Supervision and Regulation—Regulatory Limits on Dividends and Distributions” in our Annual Report on Form 10-K for the year ended December 31, 2014 previously filed with the SEC. Management believes that such limitations will not impact our ability to meet our ongoing short-term cash obligations.

The Company approved a stock repurchase program under which the Company is authorized to acquire up to $30 million of its Class A Common Stock. Repurchases under the program may be made through open market or privately negotiated transactions at times and in such amounts as management deems appropriate, subject to market conditions, regulatory requirements and other factors. The program does not obligate the Company to repurchase any particular amount of common stock, and may be suspended or discontinued at any time without notice. Shares repurchased under the program will be made using the Company’s own cash resources and are expected to be held as treasury shares.

Off Balance Sheet Arrangements

In the normal course of business, we enter into various transactions, which, in accordance with GAAP, are not included in our consolidated balance sheets. We enter into these transactions to meet the financing needs of our customers. These transactions include commitments to extend credit and standby letters of credit, which involve, to varying degrees, elements of credit risk and interest rate risk in excess of the amounts recognized on the Bank’s consolidated balance sheets. We have limited off-balance sheet arrangements that have not had or are not reasonably likely to have a current or future material effect on our financial condition, revenues, and expenses, results of operations, liquidity, capital expenditures or capital resources.

We enter into contractual loan commitments to extend credit, normally with fixed expiration dates or termination clauses, at specified rates and for specific purposes. Since a portion of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Substantially all of our commitments to extend credit are contingent upon customers maintaining specific credit standards until the time of loan funding. We decrease our exposure to loss under these commitments by subjecting them to credit approval and monitoring procedures. We assess the credit risk associated with certain commitments to extend credit and establish a liability for probable credit losses.

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Standby letters of credit are written conditional commitments issued by us to guarantee the performance of a customer to a third party. In the event the customer does not perform in accordance with the terms of the agreement with the third party, we would be required to fund the commitment. The maximum potential amount of future payments we could be required to make is represented by the contractual amount of the commitment. If the commitment is funded, we would be entitled to seek recovery from the customer. Our policies generally require that standby letter of credit arrangements contain security and debt covenants similar to those contained in loan agreements.

The following table summarizes commitments as of the dates presented:

	June 30, 2015		December 31, 2014
	(Dollars in thousands)
Commitments to fund loans	$	428,736	$	351,369
Unused lines of credit		251,792		199,880
Commercial and standby letters of credit		14,158		10,223
Total	$	694,686	$	561,472

Management believes that we have adequate liquidity to meet all known contractual obligations and unfunded commitments, including loan commitments over the next twelve months.

Non-GAAP Financial Measures

The Company views certain non-recurring items, including but not limited to merger related and restructuring charges, gain/(loss) on investment securities and their corresponding tax effect, as core adjustments to net income. Core adjustments for the second quarter of 2015 included $203 thousand of other operating expenses and $761 thousand of gain on investment securities.

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The following reconciliation provides a more detailed analysis of this non-GAAP financial measure:

FCB FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Financial Measures - Core Net Income

(Unaudited)

	Three Months Ended
	June 30, 2015			March 31, 2015			December 31, 2014			September 30, 2014			June 30, 2014
	(Dollars in thousands)
Net Income (loss)	$	19,376		$	(16,874	)	$	13,100		$	(3,422	)	$	9,166
Pre-tax Adjustments
Noninterest income
Less: Gain (loss) on investment securities		761			1,007			2,377			2,785			4,448
FDIC loss share indemnification loss		—			(65,529	)		—			—			—
Noninterest expense
Salaries and employee benefits		(17	)		185			1			15,379			—
Occupancy and equipment		—			—			—			—			225
Loan and other real estate related expenses		—			—			—			—			—
Professional services		45			245			—			—			—
Data processing and network fees		—			2			—			—			—
Regulatory assessments and insurance		—			—			—			—			—
Amortization of intangibles		—			—			—			—			—
Other operating expenses		203			64			(6	)		4,895			1,290
Taxes
Tax Effect of adjustments (1)		186			(30,065	)		1,881			(4,254	)		1,144
Core Net Income	$	19,031		$	18,079		$	12,599		$	9,813		$	7,377
Average assets	$	6,325,073		$	6,038,970		$	5,953,704		$	5,738,087		$	5,354,260
ROA (2)		1.23	%		-1.13	%		0.87	%		-0.24	%		0.69	%
Core ROA (3)		1.21	%		1.21	%		0.84	%		0.68	%		0.55	%

(1) Tax effected at marginal income tax rate of 39% except for non tax deductible and discreet items. Core tax rate of 35% in 2015.

(2) Return on assets: Annualized net income / average assets

(3) Core return on assets: Annualized core net income / average assets

Tangible book value per share is defined as total stockholders’ equity reduced by goodwill and other intangible assets divided by total common shares outstanding.

68

The following table reconciles this non-GAAP financial measurement of tangible book value per common share to the comparable GAAP financial measurement of book value per common share for the periods presented:

FCB FINANCIAL HOLDINGS, INC. AND SUBSIDIARIES

Reconciliation of Non-GAAP Measures - Tangible Book Value Per Share

(Unaudited)

	June 30, 2015			March 31, 2015			December 31, 2014			September 30, 2014			June 30, 2014
	(Dollars in thousands, except share and per share data)
Total assets	$	6,607,198		$	6,217,083		$	5,957,628		$	6,054,944		$	5,641,708
Less:
Goodwill and other intangible assets		87,884			88,291			88,615			89,040			89,466
Tangible assets	$	6,519,314		$	6,128,792		$	5,869,013		$	5,965,904		$	5,552,242
Total stockholders’ equity	$	857,479		$	846,834		$	851,653		$	835,727		$	739,448
Less:
Goodwill and other intangible assets		87,884			88,291			88,615			89,040			89,466
Tangible stockholders’ equity	$	769,595		$	758,543		$	763,038		$	746,687		$	649,982
Shares outstanding		41,423,199			41,443,031			41,409,698			41,409,698			35,892,154
Tangible book value per share	$	18.58		$	18.30		$	18.43		$	18.03		$	18.11
Average assets	$	6,325,073		$	6,038,970		$	5,953,704		$	5,738,087		$	5,354,260
Average equity		855,128			859,011			844,572			799,167			732,377
Average goodwill and other intangible assets		88,091			88,536			88,835			89,276			90,431
Tangible average equity to tangible average assets		12.3	%		12.9	%		12.9	%		12.6	%		12.2	%
Tangible common equity ratio		11.8	%		12.4	%		13.0	%		12.5	%		11.7	%

Management believes these non-GAAP financial measures provide useful information to management and investors that is supplementary to our financial condition, results of operations and cash flows computed in accordance with GAAP. Disclosure of these non-GAAP financial measures is relevant to understanding the capital position and performance of the Company and provides a meaningful base for comparability to other financial institutions. We acknowledge that our non-GAAP financial measures have a number of limitations. As such, you should not view these disclosures as a substitute for results determined in accordance with GAAP.

Item 3. Quantitative and Qualitative Disclosure about Market Risk

As described in more detail in Part II, Item 7A of our Annual Report on Form 10-K for the year ended December 31, 2014, risk management involves the monitoring and evaluation of interest rate risk, liquidity risk, operational risk, compliance risk and strategic and/or reputation risk. The Company has not experienced any material change in these risks from December 31, 2014 to June 30, 2015. For additional disclosure of our market risks, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 previously filed with the SEC.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of the Company’s management, including its Chief Executive Officer and Chief Financial Officer, the Company has evaluated the effectiveness of its “disclosure controls and procedures” (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)). Based upon this evaluation, the Chief Executive Officer and Chief Financial Officer have concluded that, as of the end of the period covered by this report, the Company’s disclosure controls and procedures were effective.

Internal Control over Financial Reporting

There was no change in the Company’s internal control over financial reporting that occurred during the Company’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

69

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

The Company, from time to time, is involved as plaintiff or defendant in various legal actions arising in the normal course of business. While the ultimate outcome of any such proceedings cannot be predicted with certainty, it is the opinion of management, based upon advice of legal counsel, that no proceedings exist, either individually or in the aggregate, which, if determined adversely to the Company, would have a material effect on the Company’s consolidated balance sheet, statements of income or cash flows. See Note 12 “Commitments and Contingencies” in the “Notes to Consolidated Financial Statements.”

Item 1A. Risk Factors

There have been no material changes in the risk factors disclosed by the Company in its Annual Report on Form 10-K for the year ended December 31, 2014 filed with the SEC.

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

None

Item 3. Defaults upon Senior Securities

Not applicable

Item 4. Mine Safety Disclosures

Not applicable

Item 5. Other Information

None

Item 6. Exhibits

31.1	Certification of Chief Executive Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the Exchange Act, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Chief Financial Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the Exchange Act, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2	Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema
101.CAL	XBRL Taxonomy Extension Calculation Linkbase
101.LAB	XBRL Taxonomy Extension Label Linkbase
101.PRE	XBRL Taxonomy Extension Presentation Linkbase
101.DEF	XBRL Taxonomy Extension Definition Linkbase

70

Signatures

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

FCB Financial Holdings, Inc.

(Registrant)

Date: August 7, 2015	/s/ Kent S. Ellert
	Kent S. Ellert
	President and Chief Executive Officer
	(Principal Executive Officer)
Date: August 7, 2015	/s/ Paul D. Burner
	Paul D. Burner
	Executive Vice President and Chief
	Financial Officer
	(Principal Financial Officer and Principal Accounting Officer)

71

EX-31.1

Exhibit 31.1

CERTIFICATIONS

I, Kent S. Ellert, certify that:

1. I have reviewed this quarterly report on Form 10-Q of FCB Financial Holdings, 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 am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

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

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

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the 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 registrant’s board of directors (or persons performing the equivalent functions):

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

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

Date: August 7, 2015	/s/ Kent S. Ellert
	Kent S. Ellert
	President and Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATIONS

I, Paul D. Burner, certify that:

1. I have reviewed this quarterly report on Form 10-Q of FCB Financial Holdings, 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 am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

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

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

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the 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 registrant’s board of directors (or persons performing the equivalent functions):

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

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

Date: August 7, 2015	/s/ Paul D. Burner
	Paul D. Burner
	Executive Vice President and Chief
	Financial Officer
	(Principal Financial Officer and Principal Accounting Officer)

EX-32.1

Exhibit 32.1

Chief Executive Officer’s Certification required under Section 906 of Sarbanes-Oxley Act of 2002

In connection with the quarterly report of FCB Financial Holdings, Inc. (the “Company”) on Form 10-Q for the period ended June 30, 2015, as filed with the Securities and Exchange Commission (the “Report”), I, Kent S. Ellert, President and Chief Executive Officer, certify pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge: (1) this Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and (2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operation of the Company.

Date: August 7, 2015	/s/ Kent S. Ellert
	Kent S. Ellert
	President and Chief Executive Officer

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to FCB Financial Holdings, Inc. and will be retained by FCB Financial Holdings, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2

Exhibit 32.2

Chief Financial Officer’s Certification required under Section 906 of Sarbanes-Oxley Act of 2002

In connection with the quarterly report of FCB Financial Holdings, Inc. (the “Company”) on Form 10-Q for the period ended June 30, 2015, as filed with the Securities and Exchange Commission (the “Report”), I, Paul D. Burner, Executive Vice President and Chief Financial Officer, certify pursuant to Section 906 of the Sarbanes- Oxley Act of 2002, that, to my knowledge: (1) this Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and (2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operation of the Company.

Date: August 7, 2015	/s/ Paul D. Burner
	Paul D. Burner
	Executive Vice President and Chief
	Financial Officer
	(Principal Financial Officer and Principal Accounting Officer)

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to FCB Financial Holdings, Inc. and will be retained by FCB Financial Holdings, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Investment Securities - Summary of Gross Realized Gains and Losses on Sale of Securities Available for Sale (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Available-for-sale Securities, Gross Realized Gain (Loss), Disclosures [Abstract]
Gross realized gains	$ 849	$ 5,203	$ 1,961	$ 7,897
Gross realized losses	(844)	(824)	(913)	(1,012)
Net realized gains (losses)	$ 5	$ 4,379	$ 1,048	$ 6,885

XML

Derivatives - Additional Information (Detail) - USD ($) $ in Millions			3 Months Ended		6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative [Line Items]
Carrying value of pledged securities	$ 761.8	$ 685.3	$ 761.8		$ 761.8
Floating rate terms within interest rate swaps were indexed	1-month LIBOR	1-month LIBOR
Customer Swap Fees [Member]
Derivative [Line Items]
Customer swap fees in non-interest income in the accompanying consolidated statements of operations			1.1	$ 1.8	2.8	$ 2.2
Interest Rate Contracts [Member]
Derivative [Line Items]
Carrying value of pledged securities	$ 23.4		$ 23.4		$ 23.4

XML

Allowance for Loan Losses - Summary of Impaired Loans Evaluated for Specific Reserves (Detail) - Acquired Loans [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Real Estate Loans [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans - With Allowance, Recorded Investment	$ 5,181	$ 354
Impaired Loans - With Allowance, Unpaid principal Balance	5,545	354
Impaired Loans - With Allowance, Related Allowance	1,205	174
Impaired Loans - With No Allowance, Recorded Investment	529	4,400
Impaired Loans - With No Allowance, Unpaid principal Balance	548	4,595
Real Estate Loans [Member] | Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans - With Allowance, Recorded Investment	4,755	354
Impaired Loans - With Allowance, Unpaid principal Balance	5,051	354
Impaired Loans - With Allowance, Related Allowance	1,028	174
Impaired Loans - With No Allowance, Recorded Investment		4,400
Impaired Loans - With No Allowance, Unpaid principal Balance		$ 4,595
Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans - With Allowance, Recorded Investment	426
Impaired Loans - With Allowance, Unpaid principal Balance	494
Impaired Loans - With Allowance, Related Allowance	177
Impaired Loans - With No Allowance, Recorded Investment	529
Impaired Loans - With No Allowance, Unpaid principal Balance	548
Other Loans [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans - With No Allowance, Recorded Investment	552
Impaired Loans - With No Allowance, Unpaid principal Balance	748
Other Loans [Member] | Commercial and Industrial [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans - With No Allowance, Recorded Investment	552
Impaired Loans - With No Allowance, Unpaid principal Balance	$ 748

XML

Fair Value Measurements - Significant Unobservable Inputs in Fair Value Measurement Level 3 Assets and Liabilities (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]
Fair value	$ 42,654	$ 74,527
Level 3 [Member]
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]
Fair value	4,540,556	3,959,771
Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]
Fair value	42,654	$ 74,527
Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Loans [Member]
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]
Fair value	$ 4,540,556
Valuation Technique	Third party appraisals and discounted cash flows
Unobservable Inputs	Collateral discounts and discount rates
Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Other Real Estate Owned [Member]
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]
Fair value	$ 42,654
Valuation Technique	Third party appraisals
Unobservable Inputs	Collateral discounts and estimated cost to sell
Range	10.00%
Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Loans [Member]
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]
Range	0.00%
Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Loans [Member]
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items]
Range	100.00%

XML

Derivatives - Summary of Derivatives Outstanding Included in Other Assets and Liabilities (Detail) - Not Designated as Hedging Instrument [Member] - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	$ 562,618,000	$ 464,890,000
Derivative Assets, Fair Value	15,387,000	14,328,000
Derivative Liabilities, Notional	617,294,000	481,486,000
Derivative Liabilities, Fair Value	15,387,000	14,328,000
Interest Rate Contracts [Member] | Pay Floating, Receive Fixed [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets, Notional	562,618,000	464,890,000
Derivative Assets, Fair Value	15,387,000	14,328,000
Derivative Liabilities, Notional	27,338,000	8,298,000
Derivative Liabilities, Fair Value	125,000	39,000
Interest Rate Contracts [Member] | Pay Fixed, Receive Floating [Member]
Derivatives, Fair Value [Line Items]
Derivative Liabilities, Notional	589,956,000	473,188,000
Derivative Liabilities, Fair Value	$ 15,262,000	$ 14,289,000

XML

Allowance for Loan Losses - Summary of Non-ASC 310-30 and New Loans by Key Indicators of Credit Quality (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Total loans	$ 4,527,722	$ 3,929,590
Pass [Member] | New Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	2,529,747	2,162,348
Pass [Member] | New Loans [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	942,394	853,044
Pass [Member] | New Loans [Member] | Owner Occupied Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	400,438	281,703
Pass [Member] | New Loans [Member] | Construction Land and Development [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	349,659	232,601
Pass [Member] | New Loans [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	837,256	795,000
Pass [Member] | Acquired Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	92,284	97,908
Pass [Member] | Acquired Loans [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	57,126	65,173
Pass [Member] | Acquired Loans [Member] | Owner Occupied Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	19,662	13,822
Pass [Member] | Acquired Loans [Member] | Construction Land and Development [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	8,610	9,729
Pass [Member] | Acquired Loans [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	6,886	9,184
Special Mention [Member] | Acquired Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	1,916	2,675
Special Mention [Member] | Acquired Loans [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	102	107
Special Mention [Member] | Acquired Loans [Member] | Owner Occupied Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	96	421
Special Mention [Member] | Acquired Loans [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	1,718	2,147
Substandard [Member] | New Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	44	30
Substandard [Member] | New Loans [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	30	30
Substandard [Member] | New Loans [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	14
Substandard [Member] | Acquired Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	6,397	7,682
Substandard [Member] | Acquired Loans [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	5,245	4,866
Substandard [Member] | Acquired Loans [Member] | Owner Occupied Commercial Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	102	599
Substandard [Member] | Acquired Loans [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total loans	$ 1,050	$ 2,217

XML

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents the assets and liabilities measured at fair value on a recurring basis:

	June 30, 2015
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
U.S. Government agencies and sponsored enterprises obligations	$	—	$	5,404	$	—	$	5,404
U.S. Government agencies and sponsored enterprises mortgage-backed securities		—		378,282		—		378,282
State and municipal obligations		—		2,230		—		2,230
Asset-backed securities		—		457,738		—		457,738
Corporate bonds and other debt securities		—		417,261		—		417,261
Preferred stocks and other equity securities		2,034		167,200		—		169,234
Derivative assets - Interest rate contracts		—		15,387		—		15,387
Total	$	2,034	$	1,443,502	$	—	$	1,445,536
Liabilities:
Derivative liabilities - Interest rate contracts	$	—	$	15,387	$	—	$	15,387
Clawback liability		—		—		—		—
Total	$	—	$	15,387	$	—	$	15,387

	December 31, 2014
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
U.S. Government agencies and sponsored enterprises obligations	$	—	$	6,096	$	—	$	6,096
U.S. Government agencies and sponsored enterprises mortgage-backed securities		—		501,652		—		501,652
State and municipal obligations		—		2,277		—		2,277
Asset-backed securities		—		478,201		—		478,201
Corporate bonds and other debt securities		—		258,683		—		258,683
Preferred stocks and other equity securities		23,594		88,595		—		112,189
Derivative assets - Interest rate contracts		—		14,328		—		14,328
Total	$	23,594	$	1,349,832	$	—	$	1,373,426
Liabilities:
Derivative liabilities - Interest rate contracts	$	—	$	14,328	$	—	$	14,328
Clawback liability		—		—		13,846		13,846
Total	$	—	$	14,328	$	13,846	$	28,174

Schedule of Changes in Fair Value of Liabilities Measured at Fair Value on Recurring Basis and Classified in Level 3 of Fair Value Hierarchy for Periods Presented

The following tables reconcile changes in the fair value of liabilities measured at fair value on a recurring basis and classified in level 3 of the fair value hierarchy for the periods presented:

	Three Months Ended June 30,
	2015				2014
	Clawback Liability		EAAs		Clawback Liability		EAAs
(	Dollars in thousands)
Balance at beginnning of period	$	—	$	—	$	12,060	$	1,362
Losses (gains) included in other noninterest expenses		—		—		465		452
Termination of FDIC loss sharing agreements		—		—		—		—
Balance at end of period	$	—	$	—	$	12,525	$	1,814

	Six Months Ended June 30,
	2015					2014
	Clawback Liability			EAAs		Clawback Liability		EAAs
	(Dollars in thousands)
Balance at beginnning of period	$	13,846		$	—	$	11,753	$	1,114
Losses (gains) included in other noninterest expenses		—			—		772		700
Termination of FDIC loss sharing agreements		(13,846	)		—		—		—
Balance at end of period	$	—		$	—	$	12,525	$	1,814

Significant Unobservable Inputs in Fair Value Measurement Level 3 Assets and Liabilities

The following table shows significant unobservable inputs used in the non-recurring fair value measurement of level 3 assets and liabilities:

Level 3 Asset	Fair value		Valuation Technique	Unobservable Inputs	Range
(Dollars in thousands)
Non-recurring:
Loans	$	4,540,556	Third party appraisals and discounted cash flows	Collateral discounts and discount rates		0%-100%
Other real estate owned		42,654	Third party appraisals	Collateral discounts and estimated cost to sell		10%

Summary of Fair Value Measurements Related to Collateral Dependent Impaired Loans and OREO are Classified within Level 3 of the Fair Value Hierarchy

The following tables provide information about certain assets measured at fair value on a non-recurring basis:

	June 30, 2015		December 31, 2014
	(Dollars in thousands)
Assets that are still held (classified in Level 3):
Impaired loans	$	6,262	$	4,754
Foreclosed real estate		42,654		74,527

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
	(Dollars in thousands)
Negative valuation adjustments:
Impaired loans	$	1,049	$	—	$	1,049	$	—
Foreclosed real estate		69		287		174		732

Schedule of Carrying Amounts and Estimated Fair Values, as well as the Level within the Fair Value Hierarchy

The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company’s financial instruments are as follows:

June 30, 2015	Carrying Value		Fair Value		Level 1		Level 2		Level 3
	(Dollars in thousands)
Financial Assets:
Cash and cash equivalents	$	141,286	$	141,286	$	141,286	$	—	$	—
Available for sale securities		1,430,149		1,430,149		2,034		1,428,115		—
FHLB and other bank stock		70,505		70,505		—		70,505		—
Loans, net		4,500,676		4,540,556		—		—		4,540,556
Loans held for sale		4,782		4,782		—		4,782		—
Loss share indemnification asset		—		—		—		—		—
Due from FDIC		—		—		—		—		—
Bank-owned life insurance		140,830		140,830		—		140,830		—
Derivative assets - Interest rate contracts		15,387		15,387		—		15,387		—
Financial Liabilities:
Deposits	$	4,466,087	$	4,467,199	$	—	$	4,467,199	$	—
Advances from the FHLB and other borrowings		1,232,893		1,233,205		—		1,233,205		—
Derivative liabilities - Interest rate contracts		15,387		15,387		—		15,387		—
Clawback liability		—		—		—		—		—

December 31, 2014	Carrying Value		Fair Value		Level 1		Level 2		Level 3
	(Dollars in thousands)
Financial Assets:
Cash and cash equivalents	$	107,085	$	107,085	$	107,085	$	—	$	—
Available for sale securities		1,359,098		1,359,098		23,594		1,335,504		—
FHLB and other bank stock		66,891		66,891		—		66,891		—
Loans, net		3,906,710		3,959,771		—		—		3,959,771
Loans held for sale		707		707		—		707		—
Loss share indemnification asset		63,168		27,976		—		—		27,976
Due from FDIC		1,735		1,735		—		1,735		—
Bank-owned life insurance		139,829		139,829		—		139,829		—
Derivative assets - Interest rate contracts		14,328		14,328		—		14,328		—
Financial Liabilities:
Deposits	$	3,978,535	$	3,977,629	$	—	$	3,977,629	$	—
Advances from the FHLB and other borrowings		1,067,981		1,066,764		—		1,066,764		—
Derivative liabilities - Interest rate contracts		14,328		14,328		—		14,328		—
Clawback liability		13,846		13,846		—		—		13,846

XML

Deposits - Summary of Company's Deposits by Category (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Banking and Thrift [Abstract]
Noninterest-bearing demand deposits	$ 621,845	$ 593,025
Interest-bearing demand deposits	288,990	122,380
Interest-bearing NOW accounts	414,795	374,399
Savings and money market accounts	1,882,706	1,811,878
Time deposits	1,257,751	1,076,853
Total deposits	4,466,087	3,978,535
Time deposits $100,000 and greater	833,827	689,439
Time deposits greater than $250,000	$ 289,424	$ 226,895

XML

Fair Value Measurements - Summary of Fair Value Measurements Related to Collateral Dependent Impaired Loans and OREO are Classified Within Level 3 of the Fair Value Hierarchy (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Assets that are still held (classified in Level 3):
Foreclosed real estate	$ 42,654		$ 42,654		$ 74,527
Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member]
Assets that are still held (classified in Level 3):
Impaired loans	6,262		6,262		4,754
Foreclosed real estate	42,654		42,654		$ 74,527
Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | Impaired Loans [Member]
Negative valuation adjustments:
Negative fair valuation adjustments	1,049		1,049
Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | Foreclosed Real Estate [Member]
Negative valuation adjustments:
Negative fair valuation adjustments	$ 69	$ 287	$ 174	$ 732

XML

Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2015

Receivables [Abstract]

Summary of Changes in Allowance for Loan Losses by Loan Class and Portfolio Segment

Changes in the ALL by loan class and portfolio segment for the three and six months ended June 30, 2015 and 2014 are as follows:

	Commercial Real Estate			Owner- Occupied Commercial Real Estate			1- 4 Single Family Residential			Construction, Land and Development			Home Equity Loans and Lines of Credit			Commercial and Industrial			Consumer			Total
	(Dollars in thousands)
Balance at April 1, 2015	$	9,296		$	1,252		$	5,213		$	2,312		$	398		$	5,705		$	337		$	24,513
Provision (credit) for ASC 310-30 loans		(784	)		—			(63	)		(178	)		—			143			115			(767	)
Provision for non-ASC 310-30 loans		848			(7	)		(7	)		(12	)		143			(11	)		(1	)		953
Provision for New loans		383			303			755			633			22			183			5			2,284
Total provision		447			296			685			443			165			315			119			2,470
Charge-offs for ASC 310-30 loans		(109	)		—			(121	)		—			—			(45	)		—			(275	)
Charge-offs for non-ASC 310-30 loans		—			—			(63	)		—			—			—			—			(63	)
Charge-offs for New loans		—			—			—			—			—			—			—			—
Total charge-offs		(109	)		—			(184	)		—			—			(45	)		—			(338	)
Recoveries for ASC 310-30 loans		18			—			30			269			—			82			—			399
Recoveries for non-ASC 310-30 loans		—			—			—			—			—			—			—			—
Recoveries for New loans		—			—			—			—			—			2			—			2
Total recoveries		18			—			30			269			—			84			—			401
Ending ALL balance
ASC 310-30 loans		2,585			—			270			793			—			1,133			387			5,168
Non-ASC 310-30 loans		1,375			54			335			56			432			41			6			2,299
New loans		5,692			1,494			5,139			2,175			131			4,885			63			19,579
Balance at June 30, 2015	$	9,652		$	1,548		$	5,744		$	3,024		$	563		$	6,059		$	456		$	27,046
	Commercial Real Estate			Owner- Occupied Commercial Real Estate			1- 4 Single Family Residential			Construction, Land and Development			Home Equity Loans and Lines of Credit			Commercial and Industrial			Consumer			Total
	(Dollars in thousands)
Balance at April 1, 2014	$	5,088		$	435		$	1,587		$	1,900		$	151		$	5,977		$	356		$	15,494
Provision (credit) for ASC 310-30 loans		191			—			212			(31	)		—			(539	)		(34	)		(201	)
Provision for non-ASC 310-30 loans		2			2			(45	)		—			89			16			32			96
Provision for New loans		982			369			702			499			(65	)		849			5			3,341
Total provision		1,175			371			869			468			24			326			3			3,236
Charge-offs for ASC 310-30 loans		—			—			(30	)		(444	)		—			(32	)		(4	)		(510	)
Charge-offs for non-ASC 310-30 loans		—			—			—			—			(62	)		—			(29	)		(91	)
Charge-offs for New loans		—			—			—			—			—			(348	)		—			(348	)
Total charge-offs		—			—			(30	)		(444	)		(62	)		(380	)		(33	)		(949	)
Recoveries for ASC 310-30 loans		91			—			—			11			—			1			—			103
Recoveries for non-ASC 310-30 loans		—			—			—			—			—			—			—			—
Recoveries for New loans		—			—			—			—			—			—			—			—
Total recoveries		91			—			—			11			—			1			—			103
Ending ALL balance
ASC 310-30 loans		2,883			—			207			660			—			1,359			298			5,407
Non-ASC 310-30 loans		8			7			7			—			32			6			3			63
New loans		3,463			799			2,212			1,275			81			4,559			25			12,414
Balance at June 30, 2014	$	6,354		$	806		$	2,426		$	1,935		$	113		$	5,924		$	326		$	17,884

	Commercial Real Estate			Owner- Occupied Commercial Real Estate			1- 4 Single Family Residential			Construction, Land and Development			Home Equity Loans and Lines of Credit			Commercial and Industrial			Consumer			Total
	(Dollars in thousands)
Balance at January 1, 2015	$	8,206		$	1,020		$	4,740		$	2,456		$	355		$	5,745		$	358		$	22,880
Provision (credit) for ASC 310-30 loans		(865	)		—			1			(198	)		—			119			157			(786	)
Provision (credit) for non-ASC 310-30 loans		880			(4	)		49			(19	)		147			(8	)		—			1,045
Provision (credit) for New loans		1,236			532			1,138			452			61			140			1			3,560
Total provision		1,251			528			1,188			235			208			251			158			3,819
Charge-offs for ASC 310-30 loans		(205	)		—			(207	)		(56	)		—			(75	)		(60	)		(603	)
Charge-offs for non-ASC 310-30 loans		—			—			(128	)		—			—			—			—			(128	)
Charge-offs for New loans		—			—			—			—			—			—			—			—
Total charge-offs		(205	)		—			(335	)		(56	)		—			(75	)		(60	)		(731	)
Recoveries for ASC 310-30 loans		400			—			151			389			—			131			—			1,071
Recoveries for non-ASC 310-30 loans		—			—			—			—			—			—			—			—
Recoveries for New loans		—			—			—			—			—			7			—			7
Total recoveries		400			—			151			389			—			138			—			1,078
Ending ALL balance
ASC 310-30 loans		2,585			—			270			793			—			1,133			387			5,168
Non-ASC 310-30 loans		1,375			54			335			56			432			41			6			2,299
New loans		5,692			1,494			5,139			2,175			131			4,885			63			19,579
Balance at June 30, 2015	$	9,652		$	1,548		$	5,744		$	3,024		$	563		$	6,059		$	456		$	27,046
	Commercial Real Estate			Owner- Occupied Commercial Real Estate			1- 4 Single Family Residential			Construction, Land and Development			Home Equity Loans and Lines of Credit			Commercial and Industrial			Consumer			Total
	(Dollars in thousands)
Balance at January 1, 2014	$	4,458		$	376		$	1,443		$	1,819		$	265		$	6,198		$	174		$	14,733
Provision (credit) for ASC 310-30 loans		191			—			152			133			—			(871	)		232			(163	)
Provision (credit) for non-ASC 310-30 loans		3			2			(45	)		—			(4	)		24			32			12
Provision (credit) for New loans		1,685			428			906			441			(45	)		1,054			8			4,477
Total provision		1,879			430			1,013			574			(49	)		207			272			4,326
Charge-offs for ASC 310-30 loans		(74	)		—			(30	)		(1,245	)		—			(110	)		(91	)		(1,550	)
Charge-offs for non-ASC 310-30 loans		—			—			—			—			(103	)		(24	)		(29	)		(156	)
Charge-offs for New loans		—			—			—			—			—			(348	)		—			(348	)
Total charge-offs		(74	)		—			(30	)		(1,245	)		(103	)		(482	)		(120	)		(2,054	)
Recoveries for ASC 310-30 loans		91			—			—			787			—			1			—			879
Recoveries for non-ASC 310-30 loans		—			—			—			—			—			—			—			—
Recoveries for New loans		—			—			—			—			—			—			—			—
Total recoveries		91			—			—			787			—			1			—			879
Ending ALL balance
ASC 310-30 loans		2,883			—			207			660			—			1,359			298			5,407
Non-ASC 310-30 loans		8			7			7			—			32			6			3			63
New loans		3,463			799			2,212			1,275			81			4,559			25			12,414
Balance at June 30, 2014	$	6,354		$	806		$	2,426		$	1,935		$	113		$	5,924		$	326		$	17,884

Summary of Aging Analysis of Recorded Investment for Loans by Portfolio and Segment

The following tables present an aging analysis of the recorded investment for delinquent loans by portfolio and segment (excluding loans accounted for under ASC 310-30):

	Accruing
June 30, 2015	30 to 59 Days Past Due		60 to 89 Days Past Due		90 Days or More Past Due		Non- Accrual		Total
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	—	$	—	$	—	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—		—
1-4 single family residential		—		—		—		—		—
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		—		—		—		—		—
Total real estate loans		—		—		—		—		—
Other loans:
Commercial and industrial		—		—		—		14		14
Consumer		—		—		—		—		—
Total other loans		—		—		—		14		14
Total new loans	$	—	$	—	$	—	$	14	$	14
Acquired loans:
Real estate loans:
Commercial real estate	$	—	$	—	$	—	$	4,865	$	4,865
Owner-occupied commercial real estate		—		—		—		5		5
1-4 single family residential		—		—		—		1,649		1,649
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		153		288		—		2,806		3,247
Total real estate loans		153		288		—		9,325		9,766
Other loans:
Commercial and industrial		—		—		—		736		736
Consumer		—		—		—		—		—
Total other loans		—		—		—		736		736
Total acquired loans	$	153	$	288	$	—	$	10,061	$	10,502

	Accruing
December 31, 2014	30 to 59 Days Past Due		60 to 89 Days Past Due		90 Days or More Past Due		Non- Accrual		Total
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	—	$	—	$	—	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—		—
1-4 single family residential		6,206		727		—		116		7,049
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		—		—		—		—		—
Total real estate loans		6,206		727		—		116		7,049
Other loans:
Commercial and industrial		—		—		—		—		—
Consumer		—		—		—		—		—
Total other loans		—		—		—		—		—
Total new loans	$	6,206	$	727	$	—	$	116	$	7,049
Acquired Loans:
Real estate loans:
Commercial real estate	$	—	$	—	$	—	$	4,866	$	4,866
Owner-occupied commercial real estate		—		—		—		211		211
1-4 single family residential		1,877		86		—		1,766		3,729
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		384		456		—		3,005		3,845
Total real estate loans		2,261		542		—		9,848		12,651
Other loans:
Commercial and industrial		—		192		—		1,222		1,414
Consumer		14		—		—		—		14
Total other loans		14		192		—		1,222		1,428
Total acquired loans	$	2,275	$	734	$	—	$	11,070	$	14,079

Summary of Non-ASC 310-30 and New Loans by Key Indicators of Credit Quality

The following table summarizes the Company’s Non-ASC 310-30 and New loans by key indicators of credit quality. Loans accounted for under ASC 310-30 are excluded from the following analysis because their related allowance is determined by loan pool performance:

June 30, 2015	Pass		Special Mention		Substandard		Doubtful
	(Dollars in thousands)
New loans:
Commercial real estate	$	942,394	$	—	$	30	$	—
Owner-occupied commercial real estate		400,438		—		—		—
Construction, land and development		349,659		—		—		—
Commercial and industrial		837,256		—		14		—
Total new loans	$	2,529,747	$	—	$	44	$	—
Acquired loans:
Commercial real estate	$	57,126	$	102	$	5,245	$	—
Owner-occupied commercial real estate		19,662		96		102		—
Construction, land and development		8,610		—		—		—
Commercial and industrial		6,886		1,718		1,050		—
Total acquired loans	$	92,284	$	1,916	$	6,397	$	—
December 31, 2014	Pass		Special Mention		Substandard		Doubtful
	(Dollars in thousands)
New loans:
Commercial real estate	$	853,044	$	—	$	30	$	—
Owner-occupied commercial real estate		281,703		—		—		—
Construction, land and development		232,601		—		—		—
Commercial and industrial		795,000		—		—		—
Total new loans	$	2,162,348	$	—	$	30	$	—
Acquired loans:
Commercial real estate	$	65,173	$	107	$	4,866	$	—
Owner-occupied commercial real estate		13,822		421		599		—
Construction, land and development		9,729		—		—		—
Commercial and industrial		9,184		2,147		2,217		—
Total acquired loans	$	97,908	$	2,675	$	7,682	$	—

Summary of Loans Based on Method for Determining Allowance

The following table shows the Company’s investment in loans disaggregated based on the method of evaluating impairment:

	Loans - Recorded Investment						Allowance for Credit Loss
June 30, 2015	Individually Evaluated for Impairment		Collectively Evaluated for Impairment		ASC 310- 30 Loans		Individually Evaluated for Impairment		Collectively Evaluated for Impairment		ASC 310- 30 Loans
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	—	$	942,424	$	—	$	—	$	5,692	$	—
Owner-occupied commercial real estate		—		400,438		—		—		1,494		—
1-4 single family residential		—		1,248,625		—		—		5,139		—
Construction, land and development		—		349,659		—		—		2,175		—
Home equity loans and lines of credit		—		22,798		—		—		131		—
Total real estate loans	$	—	$	2,963,944	$	—	$	—	$	14,631	$	—
Other loans
Commercial and industrial	$	—	$	837,270	$	—	$	—	$	4,885	$	—
Consumer		—		6,333		—		—		63		—
Total other loans	$	—	$	843,603	$	—	$	—	$	4,948	$	—
Acquired loans:
Real estate loans:
Commercial real estate	$	4,755	$	57,718	$	286,337	$	1,028	$	347	$	2,585
Owner-occupied commercial real estate		—		19,860		—		—		54		—
1-4 single family residential		—		86,754		76,849		—		335		270
Construction, land and development		—		8,610		55,453		—		56		793
Home equity loans and lines of credit		955		52,016		—		177		255		—
Total real estate loans	$	5,710	$	224,958	$	418,639	$	1,205	$	1,047	$	3,648
Other loans
Commercial and industrial	$	552	$	9,102	$	58,045	$	—	$	41	$	1,133
Consumer		—		645		2,524		—		6		387
Total other loans	$	552	$	9,747	$	60,569	$	—	$	47	$	1,520

	Loans - Recorded Investment						Allowance for Credit Loss
December 31, 2014	Individually Evaluated for Impairment		Collectively Evaluated for Impairment		ASC 310- 30 Loans		Individually Evaluated for Impairment		Collectively Evaluated for Impairment		ASC 310- 30 Loans
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	—	$	853,074	$	—	$	—	$	4,456	$	—
Owner-occupied commercial real estate		—		281,703		—		—		962		—
1-4 single family residential		—		922,657		—		—		4,001		—
Construction, land and development		—		232,601		—		—		1,723		—
Home equity loans and lines of credit		—		11,826		—		—		70		—
Total real estate loans	$	—	$	2,301,861	$	—	$	—	$	11,212	$	—
Other loans
Commercial and industrial	$	—	$	795,000	$	—	$	—	$	4,738	$	—
Consumer		—		6,556		—		—		62		—
Total other loans	$	—	$	801,556	$	—	$	—	$	4,800	$	—
Acquired Loans:
Real estate loans:
Commercial real estate	$	4,754	$	65,392	$	336,935	$	174	$	321	$	3,255
Owner-occupied commercial real estate		—		14,842		—		—		58		—
1-4 single family residential		—		102,279		86,308		—		414		325
Construction, land and development		—		9,729		66,700		—		75		658
Home equity loans and lines of credit		—		54,704		—		—		285		—
Total real estate loans	$	4,754	$	246,946	$	489,943	$	174	$	1,153	$	4,238
Other loans
Commercial and industrial	$	—	$	13,548	$	67,498	$	—	$	49	$	958
Consumer		—		681		2,803		—		6		290
Total other loans	$	—	$	14,229	$	70,301	$	—	$	55	$	1,248

Summary of Company's Impaired Loans Evaluated for Specific Reserves

The following tables set forth certain information regarding the Company’s impaired loans (excluding loans accounted for under ASC 310-30) that were evaluated for specific reserves:

	Impaired Loans - With Allowance						Impaired Loans -With no Allowance
June 30, 2015	Recorded Investment		Unpaid Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	—	$	—	$	—	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—		—
1-4 single family residential		—		—		—		—		—
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		—		—		—		—		—
Total real estate loans	$	—	$	—	$	—	$	—	$	—
Other loans
Commercial and industrial	$	—	$	—	$	—	$	—	$	—
Consumer		—		—		—		—		—
Total other loans	$	—	$	—	$	—	$	—	$	—
Acquired loans:
Real estate loans:
Commercial real estate	$	4,755	$	5,051	$	1,028	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—		—
1-4 single family residential		—		—		—		—		—
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		426		494		177		529		548
Total real estate loans	$	5,181	$	5,545	$	1,205	$	529	$	548
Other loans
Commercial and industrial	$	—	$	—	$	—	$	552	$	748
Consumer		—		—		—		—		—
Total other loans	$	—	$	—	$	—	$	552	$	748

	Impaired Loans - With Allowance						Impaired Loans -With no Allowance
December 31, 2014	Recorded Investment		Unpaid Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	—	$	—	$	—	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—		—
1-4 single family residential		—		—		—		—		—
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		—		—		—		—		—
Total real estate loans	$	—	$	—	$	—	$	—	$	—
Other loans
Commercial and industrial	$	—	$	—	$	—	$	—	$	—
Consumer		—		—		—		—		—
Total other loans	$	—	$	—	$	—	$	—	$	—
Acquired loans:
Real estate loans:
Commercial real estate	$	354	$	354	$	174	$	4,400	$	4,595
Owner-occupied commercial real estate		—		—		—		—		—
1-4 single family residential		—		—		—		—		—
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		—		—		—		—		—
Total real estate loans	$	354	$	354	$	174	$	4,400	$	4,595
Other loans
Commercial and industrial	$	—	$	—	$	—	$	—	$	—
Consumer		—		—		—		—		—
Total other loans	$	—	$	—	$	—	$	—	$	—

Summary of Impaired Loans Average Recorded Investment and Interest Income Recognized

	Three Months Ended June 30,
	2015				2014
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
	(Dollars in thousands)
Impaired loans with no related allowance:
Real estate loans:
Commercial real estate	$	—	$	—	$	4,705	$	—
Owner-occupied commercial real estate		—		—		—		—
1-4 single family residential		—		—		—		—
Construction, land and development		—		—		—		—
Home equity loans and lines of credit		529		—		184		—
Total real estate loans	$	529	$	—	$	4,889	$	—
Other loans:
Commercial and industrial	$	556	$	—	$	—	$	—
Consumer		—		—		—		—
Total other loans	$	556	$	—	$	—	$	—
Impaired loans with an allowance:
Real estate loans:
Commercial real estate	$	4,825	$	—	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—
1-4 single family residential		—		—		—		—
Construction, land and development		—		—		—		—
Home equity loans and lines of credit		438		—		—		—
Total real estate loans	$	5,263	$	—	$	—	$	—
Other loans:
Commercial and industrial	$	—	$	—	$	—	$	—
Consumer		—		—		—		—
Total other loans	$	—	$	—	$	—	$	—

	Six Months Ended June 30,
	2015				2014
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
	(Dollars in thousands)
Impaired loans with no related allowance:
Real estate loans:
Commercial real estate	$	—	$	—	$	4,718	$	—
Owner-occupied commercial real estate		—		—		—		—
1-4 single family residential		—		—		—		—
Construction, land and development		—		—		—		—
Home equity loans and lines of credit		529		—		184		—
Total real estate loans	$	529	$	—	$	4,902	$	—
Other loans:
Commercial and industrial	$	540	$	—	$	—	$	—
Consumer		—		—		—		—
Total other loans	$	540	$	—	$	—	$	—
Impaired loans with an allowance:
Real estate loans:
Commercial real estate	$	4,899	$	—	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—
1-4 single family residential		—		—		—		—
Construction, land and development		—		—		—		—
Home equity loans and lines of credit		442		—		—		—
Total real estate loans	$	5,341	$	—	$	—	$	—
Other loans:
Commercial and industrial	$	—	$	—	$	—	$	—
Consumer		—		—		—		—
Total other loans	$	—	$	—	$	—	$	—

XML

Covered Assets and Loss Sharing Agreements - Additional Information (Detail) - USD ($) $ in Thousands		6 Months Ended
	Mar. 04, 2015	Jun. 30, 2015	Jun. 30, 2014
Banking and Thrift [Abstract]
Consideration paid	$ 14,800	$ 14,815
Loss on termination of agreement with FDIC	$ 65,500
Increases in the loss share indemnification asset, were included in non-interest income			$ 1,200

XML

Loans, Net - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Pledged loans as collateral for FHLB advances with a carrying amount		$ 1,830,000		$ 1,830,000		$ 1,630,000
Loan amount	[1]	3,807,547		3,807,547		3,103,417
Purchase of residential mortgage loans from third parties		144,000	$ 71,200	233,600	$ 71,200
Sale of loans to third parties		11,600	$ 26,200	19,500	28,900
Increase in expected cash flow for certain ASC 310-30 loan pools resulted in the reclassification				9,800	$ 13,000
ASC 310-30 Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid principal balance of ASC 310-30 loans		620,000		620,000		725,900
1- 4 Single Family Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded investments of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process		10,300		10,300
Syndicated National Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan amount		$ 438,500		$ 438,500		$ 445,600

[1] Balance includes $(5.6) million and $3.6 million of deferred fees, costs, and premium and discount as of June 30, 2015 and December 31, 2014, respectively.

XML

Investment Securities - Schedule of Amortized Cost and Estimated Fair Value of Securities Available for Sale (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Amortized Cost and Fair Value Debt Securities [Abstract]
Available for sale, Due in one year or less at Amortized Cost	$ 0
Available for sale, Due after one year through five years at Amortized Cost	81,627
Available for sale, Due after five years through ten years at Amortized Cost	73,077
Available for sale, Due after ten years at Amortized Cost	266,889
Total available for sale, Amortized Cost	837,279
Total available for sale, Amortized Cost	171,150
Available for sale securities, Amortized Cost	1,430,022	$ 1,357,992
Available for sale securities, Due in one year or less at Fair Value	0
Available for sale securities, Due after one year through five years at Fair Value	81,677
Available for sale securities, Due after five years through ten years at Fair Value	72,375
Available for sale securities, Due after ten years at Fair Value	265,439
Total available for sale, Fair Value	841,424
Total available for sale, Fair Value	169,234
Total available for sale, Fair Value	$ 1,430,149	$ 1,359,098

XML

Covered Assets and Loss Sharing Agreements - Summary of Changes in Loss Share Indemnification Asset (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
FDIC Indemnification Asset [Roll Forward]
Balance at beginning of period	$ 80,605	$ 63,168	$ 87,229
Termination of FDIC loss sharing agreements		(63,168)
Reimbursable expenses	1,427		3,153
Amortization	(5,406)		(11,405)
Income resulting from impairment and charge-off of covered assets, net	456		1,206
Expense resulting from recoupment and disposition of covered assets, net	(1,260)		(2,423)
FDIC claims submissions	(969)		(2,907)
Balance at end of period	$ 74,853	$ 0	$ 74,853

XML

Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets:
Assets, fair value	$ 1,445,536	$ 1,373,426
Liabilities:
Liabilities, fair value	15,387	28,174
Derivative Liabilities [Member] | Interest rate contracts [Member]
Liabilities:
Liabilities, fair value	15,387	14,328
Clawback Liability [Member]
Liabilities:
Liabilities, fair value		13,846
Level 1 [Member]
Assets:
Assets, fair value	2,034	23,594
Level 2 [Member]
Assets:
Assets, fair value	1,443,502	1,349,832
Liabilities:
Liabilities, fair value	15,387	14,328
Level 2 [Member] | Derivative Liabilities [Member] | Interest rate contracts [Member]
Liabilities:
Liabilities, fair value	15,387	14,328
Level 3 [Member]
Liabilities:
Liabilities, fair value		13,846
Level 3 [Member] | Clawback Liability [Member]
Liabilities:
Liabilities, fair value		13,846
U.S. Government Agencies and Sponsored Enterprises Obligations [Member]
Assets:
Assets, fair value	5,404	6,096
U.S. Government Agencies and Sponsored Enterprises Obligations [Member] | Level 2 [Member]
Assets:
Assets, fair value	5,404	6,096
U.S. Government Agencies and Sponsored Enterprises Mortgage-backed Securities [Member]
Assets:
Assets, fair value	378,282	501,652
U.S. Government Agencies and Sponsored Enterprises Mortgage-backed Securities [Member] | Level 2 [Member]
Assets:
Assets, fair value	378,282	501,652
State and Municipal Obligations [Member]
Assets:
Assets, fair value	2,230	2,277
State and Municipal Obligations [Member] | Level 2 [Member]
Assets:
Assets, fair value	2,230	2,277
Asset-backed Securities [Member]
Assets:
Assets, fair value	457,738	478,201
Asset-backed Securities [Member] | Level 2 [Member]
Assets:
Assets, fair value	457,738	478,201
Corporate Bonds and Other Debt Securities [Member]
Assets:
Assets, fair value	417,261	258,683
Corporate Bonds and Other Debt Securities [Member] | Level 2 [Member]
Assets:
Assets, fair value	417,261	258,683
Preferred Stock and Other Equity Securities [Member]
Assets:
Assets, fair value	169,234	112,189
Preferred Stock and Other Equity Securities [Member] | Level 1 [Member]
Assets:
Assets, fair value	2,034	23,594
Preferred Stock and Other Equity Securities [Member] | Level 2 [Member]
Assets:
Assets, fair value	167,200	88,595
Derivative Assets [Member] | Interest rate contracts [Member]
Assets:
Assets, fair value	15,387	14,328
Derivative Assets [Member] | Level 2 [Member] | Interest rate contracts [Member]
Assets:
Assets, fair value	$ 15,387	$ 14,328

XML

Income Taxes - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Effective income tax rate	35.00%	33.90%	133.80%	33.90%

XML

Allowance for Loan Losses - Summary of Loans Based on Method for Determining Allowance (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, ASC 310-30 Loans	$ 4,527,722		$ 3,929,590
Allowance for Credit Loss, ASC 310-30 Loans	27,046	$ 24,513	22,880	$ 17,884	$ 15,494	$ 14,733
Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Allowance for Credit Loss, ASC 310-30 Loans	9,652	9,296	8,206	6,354	5,088	4,458
Owner Occupied Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Allowance for Credit Loss, ASC 310-30 Loans	1,548	1,252	1,020	806	435	376
1- 4 Single Family Residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Allowance for Credit Loss, ASC 310-30 Loans	5,744	5,213	4,740	2,426	1,587	1,443
Construction Land and Development [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Allowance for Credit Loss, ASC 310-30 Loans	3,024	2,312	2,456	1,935	1,900	1,819
Home Equity Loans and Lines of Credit [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Allowance for Credit Loss, ASC 310-30 Loans	563	398	355	113	151	265
Commercial and Industrial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Allowance for Credit Loss, ASC 310-30 Loans	6,059	5,705	5,745	5,924	5,977	6,198
Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Allowance for Credit Loss, ASC 310-30 Loans	456	$ 337	358	326	$ 356	$ 174
Real Estate Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, ASC 310-30 Loans	3,613,251		3,043,504
Real Estate Loans [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, ASC 310-30 Loans	1,291,234		1,260,155
Real Estate Loans [Member] | Owner Occupied Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, ASC 310-30 Loans	420,298		296,545
Real Estate Loans [Member] | 1- 4 Single Family Residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, ASC 310-30 Loans	1,412,228		1,111,244
Real Estate Loans [Member] | Construction Land and Development [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, ASC 310-30 Loans	413,722		309,030
Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, ASC 310-30 Loans	75,769		66,530
Other Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, ASC 310-30 Loans	914,471		886,086
Other Loans [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, ASC 310-30 Loans	904,969		876,046
Other Loans [Member] | Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, ASC 310-30 Loans	9,502		10,040
New Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Allowance for Credit Loss, ASC 310-30 Loans	19,579			12,414
New Loans [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Allowance for Credit Loss, ASC 310-30 Loans	5,692			3,463
New Loans [Member] | Owner Occupied Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Allowance for Credit Loss, ASC 310-30 Loans	1,494			799
New Loans [Member] | 1- 4 Single Family Residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Allowance for Credit Loss, ASC 310-30 Loans	5,139			2,212
New Loans [Member] | Construction Land and Development [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Allowance for Credit Loss, ASC 310-30 Loans	2,175			1,275
New Loans [Member] | Home Equity Loans and Lines of Credit [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Allowance for Credit Loss, ASC 310-30 Loans	131			81
New Loans [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Allowance for Credit Loss, ASC 310-30 Loans	4,885			4,559
New Loans [Member] | Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Allowance for Credit Loss, ASC 310-30 Loans	63			$ 25
New Loans [Member] | Real Estate Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, Collectively Evaluated for Impairment	2,963,944		2,301,861
Allowance for Credit Loss, Collectively Evaluated for Impairment	14,631		11,212
New Loans [Member] | Real Estate Loans [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, Collectively Evaluated for Impairment	942,424		853,074
Allowance for Credit Loss, Collectively Evaluated for Impairment	5,692		4,456
New Loans [Member] | Real Estate Loans [Member] | Owner Occupied Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, Collectively Evaluated for Impairment	400,438		281,703
Allowance for Credit Loss, Collectively Evaluated for Impairment	1,494		962
New Loans [Member] | Real Estate Loans [Member] | 1- 4 Single Family Residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, Collectively Evaluated for Impairment	1,248,625		922,657
Allowance for Credit Loss, Collectively Evaluated for Impairment	5,139		4,001
New Loans [Member] | Real Estate Loans [Member] | Construction Land and Development [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, Collectively Evaluated for Impairment	349,659		232,601
Allowance for Credit Loss, Collectively Evaluated for Impairment	2,175		1,723
New Loans [Member] | Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, Collectively Evaluated for Impairment	22,798		11,826
Allowance for Credit Loss, Collectively Evaluated for Impairment	131		70
New Loans [Member] | Other Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, Collectively Evaluated for Impairment	843,603		801,556
Allowance for Credit Loss, Collectively Evaluated for Impairment	4,948		4,800
New Loans [Member] | Other Loans [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, Collectively Evaluated for Impairment	837,270		795,000
Allowance for Credit Loss, Collectively Evaluated for Impairment	4,885		4,738
New Loans [Member] | Other Loans [Member] | Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, Collectively Evaluated for Impairment	6,333		6,556
Allowance for Credit Loss, Collectively Evaluated for Impairment	63		62
Acquired Loans [Member] | Real Estate Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, Individually Evaluated for Impairment	5,710		4,754
Loans - Recorded Investment, Collectively Evaluated for Impairment	224,958		246,946
Allowance for Credit Loss, Individually Evaluated for Impairment	1,205		174
Allowance for Credit Loss, Collectively Evaluated for Impairment	1,047		1,153
Acquired Loans [Member] | Real Estate Loans [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, Individually Evaluated for Impairment	4,755		4,754
Loans - Recorded Investment, Collectively Evaluated for Impairment	57,718		65,392
Allowance for Credit Loss, Individually Evaluated for Impairment	1,028		174
Allowance for Credit Loss, Collectively Evaluated for Impairment	347		321
Acquired Loans [Member] | Real Estate Loans [Member] | Owner Occupied Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, Collectively Evaluated for Impairment	19,860		14,842
Allowance for Credit Loss, Collectively Evaluated for Impairment	54		58
Acquired Loans [Member] | Real Estate Loans [Member] | 1- 4 Single Family Residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, Collectively Evaluated for Impairment	86,754		102,279
Allowance for Credit Loss, Collectively Evaluated for Impairment	335		414
Acquired Loans [Member] | Real Estate Loans [Member] | Construction Land and Development [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, Collectively Evaluated for Impairment	8,610		9,729
Allowance for Credit Loss, Collectively Evaluated for Impairment	56		75
Acquired Loans [Member] | Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, Individually Evaluated for Impairment	955
Loans - Recorded Investment, Collectively Evaluated for Impairment	52,016		54,704
Allowance for Credit Loss, Individually Evaluated for Impairment	177
Allowance for Credit Loss, Collectively Evaluated for Impairment	255		285
Acquired Loans [Member] | Other Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, Individually Evaluated for Impairment	552
Loans - Recorded Investment, Collectively Evaluated for Impairment	9,747		14,229
Allowance for Credit Loss, Collectively Evaluated for Impairment	47		55
Acquired Loans [Member] | Other Loans [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, Individually Evaluated for Impairment	552
Loans - Recorded Investment, Collectively Evaluated for Impairment	9,102		13,548
Allowance for Credit Loss, Collectively Evaluated for Impairment	41		49
Acquired Loans [Member] | Other Loans [Member] | Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, Collectively Evaluated for Impairment	645		681
Allowance for Credit Loss, Collectively Evaluated for Impairment	6		6
ASC 310-30 Loans [Member] | Acquired Loans [Member] | Real Estate Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, ASC 310-30 Loans	418,639		489,943
Allowance for Credit Loss, ASC 310-30 Loans	3,648		4,238
ASC 310-30 Loans [Member] | Acquired Loans [Member] | Real Estate Loans [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, ASC 310-30 Loans	286,337		336,935
Allowance for Credit Loss, ASC 310-30 Loans	2,585		3,255
ASC 310-30 Loans [Member] | Acquired Loans [Member] | Real Estate Loans [Member] | 1- 4 Single Family Residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, ASC 310-30 Loans	76,849		86,308
Allowance for Credit Loss, ASC 310-30 Loans	270		325
ASC 310-30 Loans [Member] | Acquired Loans [Member] | Real Estate Loans [Member] | Construction Land and Development [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, ASC 310-30 Loans	55,453		66,700
Allowance for Credit Loss, ASC 310-30 Loans	793		658
ASC 310-30 Loans [Member] | Acquired Loans [Member] | Other Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, ASC 310-30 Loans	60,569		70,301
Allowance for Credit Loss, ASC 310-30 Loans	1,520		1,248
ASC 310-30 Loans [Member] | Acquired Loans [Member] | Other Loans [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, ASC 310-30 Loans	58,045		67,498
Allowance for Credit Loss, ASC 310-30 Loans	1,133		958
ASC 310-30 Loans [Member] | Acquired Loans [Member] | Other Loans [Member] | Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans - Recorded Investment, ASC 310-30 Loans	2,524		2,803
Allowance for Credit Loss, ASC 310-30 Loans	$ 387		$ 290

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Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

General

The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all information and notes to the consolidated financial statements necessary for a complete presentation of financial position, results of operations, comprehensive income and cash flows in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and should be read in conjunction with the audited consolidated financial statements and the notes thereto for FCB Financial Holdings, Inc. (the “Company”) previously filed with the SEC in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation have been included. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period.

Nature of Operations

FCB Financial Holdings, Inc., formerly known as Bond Street Holdings, Inc., is a national bank holding company with one wholly-owned national bank subsidiary, Florida Community Bank, N.A. (“Florida Community Bank” or the “Bank”), headquartered in Weston, Florida, offering a comprehensive range of traditional banking products and services to individual and corporate customers through 48 banking centers located in Florida at June 30, 2015.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiary, the Bank, and the Bank’s subsidiaries, which consist of a group of real estate holding companies. Intercompany transactions and balances have been eliminated in consolidation.

Use of Estimates

The Company’s financial reporting and accounting policies conform to U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Material estimates subject to significant change include the allowance for loan losses, valuation of and accounting for loans covered by loss sharing arrangements with the Federal Deposit Insurance Corporation (“FDIC”) and the related loss share receivable, valuation of and accounting for acquired loans, the carrying value of OREO, the fair value of financial instruments, the valuation of goodwill and other intangible assets, contingent consideration liabilities, acquisition-related fair value computations, stock-based compensation and deferred taxes.

Reclassifications

In certain instances, amounts reported in prior periods consolidated financial statements have been reclassified to conform to the current period presentation. Such reclassifications had no effect on previously reported net income or total stockholders’ equity.

For the 2014 Consolidated Statements of Cash Flows, the Company reclassified $41.6 million to investing activities from operating activities related to the settlement of investment securities and $14.7 million to operating activities from investing activities related to accretion income on acquired loans. In addition, the Company reclassified cash collections of $5.6 million from the FDIC on loss share indemnification assets from investing activities to operating activities.

Recently Adopted Accounting Pronouncements

In July 2013, the FASB issued ASU No. 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” to provide guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists thereby reducing diversity in practice. The amendments in this update became effective for the first quarter ended March 31, 2015. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

Recently Issued Accounting Pronouncements

Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards affecting public companies. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to use the extended transition period provided in Section 7(a)(2)(B) of the Securities Act until the earlier of the date we (i) are no longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in Section 7(a)(2)(B).

In February 2015, the FASB issued ASU No. 2015-02, “Amendments to the Consolidated Analysis (ASC 810, Consolidation)” which amends the consolidation requirements of ASC 810 by reducing the number of consolidation models. The guidance places more emphasis on risk of loss when determining a controlling financial interest; reduces the frequency of the application of related-party guidance when determining a controlling financial interest and changes the consolidation requirements of limited partnerships. For public entities, this guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. For all other entities, including emerging growth companies, the amendments in this Update are effective for fiscal years beginning after December 15, 2016, and for interim periods within fiscal years beginning after December 15, 2017. A reporting entity may apply the amendments in this ASU using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption or may apply the amendments retrospectively. The Company is currently evaluating this guidance to determine the impact on its consolidated financial position, results of operations and cash flows but does not expect the adoption of this ASU to have a material impact on our consolidated financial statements.

In January 2015, the FASB issued ASU No. 2015-01, “Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items (ASC 225-20, Extraordinary and Unusual Items)” which eliminates the concept of extraordinary items. The amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 for all entities. Under the ASU, extraordinary items will no longer be segregated from the results of ordinary operations and presented separately on the consolidated financial statements. The amendments may be applied prospectively or retrospectively to all prior periods. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements.

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Stock-Based Compensation and Other Benefit Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended		6 Months Ended
	Apr. 29, 2014	Feb. 05, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
2009 Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation awards, option grants during the period	150,000			150,000		240,000
Stock based compensation awards, weighted average exercise price of option grants	$ 19.75
Stock based compensation awards, aggregate fair value on grant date	$ 890
Stock based compensation awards, expiration period	10 years
Stock based compensation awards, options vesting period	3 years
Number of shares available for award			0		0
Stock based compensation, vested and exercisable shares			3,323,868		3,323,868
Unrecognized compensation cost related to shares awards			$ 3,700		$ 3,700
Weighted average period of compensation cost to be recognized					2 years 1 month 28 days
2009 Option Plan [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation awards, option grants during the period		90,000
Stock based compensation awards, shares vesting percentage		25.00%
Stock based compensation awards, weighted average exercise price of option grants		$ 19.75
Stock based compensation awards, aggregate fair value on grant date		$ 479
Stock based compensation awards, expiration period		10 years
2013 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation awards, option grants during the period				0	239,500	0
Stock based compensation awards, weighted average exercise price of option grants					$ 25.47
Stock based compensation awards, aggregate fair value on grant date					$ 1,800
Stock based compensation awards, expiration period					10 years
Number of shares available for award			103,334		103,334
Stock based compensation, vested and exercisable shares			749,062		749,062
Weighted average period of compensation cost to be recognized					1 year 8 months 12 days
Unrecognized compensation expense related to stock-based compensation			$ 2,600		$ 2,600
2013 Stock Incentive Plan [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation awards, option grants during the period					110,500
Stock based compensation awards, shares vesting percentage					33.33%
Stock based compensation awards, options vesting period					3 years
2013 Stock Incentive Plan [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation awards, option grants during the period			0		129,000
Stock based compensation awards, shares vesting percentage					25.00%

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Loans, Net - Summary of Changes in Accretable Discount for ASC 310-30 Loans (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Receivables [Abstract]
Beginning Balance	$ 156,197	$ 148,501
Additions to accretable discount from GFB acquisition		40,444
Accretion	(23,667)	(31,231)
Reclassifications from non-accretable difference	9,760	13,030
Ending Balance	$ 142,290	$ 170,744

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Accumulated Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2015

Equity [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Income

Changes in AOCI for the periods indicated are summarized as follows:

	Three Months Ended June 30,
	2015									2014
	Before Tax			Tax Effect			Net of Tax			Before Tax			Tax Effect			Net of Tax
	(Dollars in thousands)
Balance at beginning of period	$	17,178		$	(6,626	)	$	10,552		$	3,606		$	(1,390	)	$	2,216
Unrealized gain (loss) on investment securities available for sale:
Net unrealized holdings gain (loss) arising during the period		(15,868	)		6,121			(9,747	)		12,685			(4,894	)		7,791
Amounts reclassified to (gain) loss on investment securities		(1,183	)		456			(727	)		(2,978	)		1,148			(1,830	)
Balance at end of period	$	127		$	(49	)	$	78		$	13,313		$	(5,136	)	$	8,177

	Six Months Ended June 30,
	2015									2014
	Before Tax			Tax Effect			Net of Tax			Before Tax			Tax Effect			Net of Tax
	(Dollars in thousands)
Balance at beginning of period	$	1,106		$	(427	)	$	679		$	(2,565	)	$	990		$	(1,575	)
Unrealized gain (loss) on investment securities available for sale:
Net unrealized holdings gain (loss) arising during the period		1,300			(501	)		799			19,715			(7,606	)		12,109
Amounts reclassified to (gain) loss on investment securities		(2,279	)		879			(1,400	)		(3,837	)		1,480			(2,357	)
Balance at end of period	$	127		$	(49	)	$	78		$	13,313		$	(5,136	)	$	8,177

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Deposits (Tables)

6 Months Ended

Jun. 30, 2015

Banking and Thrift [Abstract]

Summary of Company's Deposits by Category

The following table sets forth the Company’s deposits by category:

	June 30, 2015		December 31, 2014
	(Dollars in thousands)
Noninterest-bearing demand deposits	$	621,845	$	593,025
Interest-bearing demand deposits		288,990		122,380
Interest-bearing NOW accounts		414,795		374,399
Savings and money market accounts		1,882,706		1,811,878
Time deposits		1,257,751		1,076,853
Total deposits	$	4,466,087	$	3,978,535
Time deposits $100,000 and greater	$	833,827	$	689,439
Time deposits greater than $250,000		289,424		226,895

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Derivatives - Summary of Gross and Net Fair Value of Derivatives Outstanding Included in Other Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Offsetting Liabilities [Line Items]
Gross amounts of recognized liabilities	$ 15,387	$ 14,328
Gross amounts offset in the consolidated balance sheets	(125)	(39)
Net amounts in the consolidated balance sheets	15,262	14,289
Interest Rate Contracts [Member] | Counterparty A [Member]
Offsetting Liabilities [Line Items]
Gross amounts of recognized liabilities	15,387	14,328
Gross amounts offset in the consolidated balance sheets	(125)	(39)
Net amounts in the consolidated balance sheets	$ 15,262	$ 14,289

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Allowance for Loan Losses - Summary of Changes in Allowance for Loan Losses by Loan Class and Portfolio Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	$ 24,513	$ 15,494	$ 22,880	$ 14,733
Total provision	2,470	3,236	3,819	4,326
Total charge-offs	(338)	(949)	(731)	(2,054)
Total recoveries	401	103	1,078	879
Ending balance	27,046	17,884	27,046	17,884
ASC 310-30 Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	(767)	(201)	(786)	(163)
Total charge-offs	(275)	(510)	(603)	(1,550)
Total recoveries	399	103	1,071	879
Ending balance	5,168	5,407	5,168	5,407
Non-ASC 310-30 Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	953	96	1,045	12
Total charge-offs	(63)	(91)	(128)	(156)
Ending balance	2,299	63	2,299	63
New Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	2,284	3,341	3,560	4,477
Total charge-offs		(348)		(348)
Total recoveries	2		7
Ending balance	19,579	12,414	19,579	12,414
Commercial Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	9,296	5,088	8,206	4,458
Total provision	447	1,175	1,251	1,879
Total charge-offs	(109)		(205)	(74)
Total recoveries	18	91	400	91
Ending balance	9,652	6,354	9,652	6,354
Commercial Real Estate [Member] | ASC 310-30 Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	(784)	191	(865)	191
Total charge-offs	(109)		(205)	(74)
Total recoveries	18	91	400	91
Ending balance	2,585	2,883	2,585	2,883
Commercial Real Estate [Member] | Non-ASC 310-30 Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	848	2	880	3
Ending balance	1,375	8	1,375	8
Commercial Real Estate [Member] | New Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	383	982	1,236	1,685
Ending balance	5,692	3,463	5,692	3,463
Owner Occupied Commercial Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	1,252	435	1,020	376
Total provision	296	371	528	430
Ending balance	1,548	806	1,548	806
Owner Occupied Commercial Real Estate [Member] | Non-ASC 310-30 Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	(7)	2	(4)	2
Ending balance	54	7	54	7
Owner Occupied Commercial Real Estate [Member] | New Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	303	369	532	428
Ending balance	1,494	799	1,494	799
1- 4 Single Family Residential [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	5,213	1,587	4,740	1,443
Total provision	685	869	1,188	1,013
Total charge-offs	(184)	(30)	(335)	(30)
Total recoveries	30		151
Ending balance	5,744	2,426	5,744	2,426
1- 4 Single Family Residential [Member] | ASC 310-30 Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	(63)	212	1	152
Total charge-offs	(121)	(30)	(207)	(30)
Total recoveries	30		151
Ending balance	270	207	270	207
1- 4 Single Family Residential [Member] | Non-ASC 310-30 Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	(7)	(45)	49	(45)
Total charge-offs	(63)		(128)
Ending balance	335	7	335	7
1- 4 Single Family Residential [Member] | New Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	755	702	1,138	906
Ending balance	5,139	2,212	5,139	2,212
Construction Land and Development [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	2,312	1,900	2,456	1,819
Total provision	443	468	235	574
Total charge-offs		(444)	(56)	(1,245)
Total recoveries	269	11	389	787
Ending balance	3,024	1,935	3,024	1,935
Construction Land and Development [Member] | ASC 310-30 Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	(178)	(31)	(198)	133
Total charge-offs		(444)	(56)	(1,245)
Total recoveries	269	11	389	787
Ending balance	793	660	793	660
Construction Land and Development [Member] | Non-ASC 310-30 Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	(12)		(19)
Ending balance	56		56
Construction Land and Development [Member] | New Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	633	499	452	441
Ending balance	2,175	1,275	2,175	1,275
Home Equity Loans and Lines of Credit [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	398	151	355	265
Total provision	165	24	208	(49)
Total charge-offs		(62)		(103)
Ending balance	563	113	563	113
Home Equity Loans and Lines of Credit [Member] | Non-ASC 310-30 Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	143	89	147	(4)
Total charge-offs		(62)		(103)
Ending balance	432	32	432	32
Home Equity Loans and Lines of Credit [Member] | New Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	22	(65)	61	(45)
Ending balance	131	81	131	81
Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	5,705	5,977	5,745	6,198
Total provision	315	326	251	207
Total charge-offs	(45)	(380)	(75)	(482)
Total recoveries	84	1	138	1
Ending balance	6,059	5,924	6,059	5,924
Commercial and Industrial [Member] | ASC 310-30 Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	143	(539)	119	(871)
Total charge-offs	(45)	(32)	(75)	(110)
Total recoveries	82	1	131	1
Ending balance	1,133	1,359	1,133	1,359
Commercial and Industrial [Member] | Non-ASC 310-30 Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	(11)	16	(8)	24
Total charge-offs				(24)
Ending balance	41	6	41	6
Commercial and Industrial [Member] | New Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	183	849	140	1,054
Total charge-offs		(348)		(348)
Total recoveries	2		7
Ending balance	4,885	4,559	4,885	4,559
Consumer [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	337	356	358	174
Total provision	119	3	158	272
Total charge-offs		(33)	(60)	(120)
Ending balance	456	326	456	326
Consumer [Member] | ASC 310-30 Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	115	(34)	157	232
Total charge-offs		(4)	(60)	(91)
Ending balance	387	298	387	298
Consumer [Member] | Non-ASC 310-30 Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	(1)	32		32
Total charge-offs		(29)		(29)
Ending balance	6	3	6	3
Consumer [Member] | New Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total provision	5	5	1	8
Ending balance	$ 63	$ 25	$ 63	$ 25

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Basic and Diluted Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

The following table presents the computation of basic and diluted EPS:

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
	(Dollars in thousands, except share and per share data)
Net income (loss) available to common stockholders	$	19,376	$	9,166	$	2,502	$	12,694
Weighted average number of common shares - basic		41,428,588		35,892,154		41,425,240		35,892,154
Effect of dilutive securities:
Employee stock-based compensation awards		1,677,543		4,053		1,327,574		4,103
Weighted average number of common shares - diluted		43,106,131		35,896,207		42,752,814		35,896,257
Basic earnings (loss) per share	$	0.47	$	0.26	$	0.06	$	0.35
Diluted earnings (loss) per share	$	0.45	$	0.26	$	0.06	$	0.35
Anti-dilutive warrants, stock options and RSUs		560,704		9,424,582		1,715,989		9,386,102

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Stock-Based Compensation and Other Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2015

2009 Option Plan [Member]

Schedule of Option Activity

Option grant activities for the periods indicated are summarized as follows:

	2009 Option Plan
	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(Dollars in thousands)
Outstanding at beginning of period		4,102,667			3,539,334			4,135,250			3,688,500
Granted		—			150,000			—			240,000
Exercised		(10,168	)		—			(36,835	)		—
Forfeited		(17,415	)		—			(23,331	)		(14,166	)
Expired		(501	)		(3,334	)		(501	)		(228,334	)
Outstanding at end of period		4,074,583			3,686,000			4,074,583			3,686,000

2013 Stock Incentive Plan [Member]

Schedule of Option Activity

Option grant activities for the periods indicated are summarized as follows:

	2013 Option Plan
	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(Dollars in thousands)
Outstanding at beginning of period		2,403,334			2,173,000			2,170,500			2,173,000
Granted		—			—			239,500			—
Exercised		—			—			(6,666	)		—
Forfeited		(13,334	)		(2,500	)		(13,334	)		(2,500	)
Expired		—			—			—			—
Outstanding at end of period		2,390,000			2,170,500			2,390,000			2,170,500

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Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ 2,502	$ 12,694
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Provision for loan losses	3,819	4,326
Amortization of intangible assets	831	859
Depreciation and amortization of premises and equipment	1,940	1,871
Amortization of discount on loans	(1,833)	(1,629)
Net amortization (accretion) of premium (discount) on investment securities	1,094	1,113
Net amortization (accretion) of premium (discount) on time deposits	(258)	(837)
Net amortization (accretion) on FHLB advances and other borrowings	(1,292)	(554)
Impairment of other real estate owned	173	732
FDIC loss share indemnification loss	65,529	10,239
(Gain) loss on investment securities	(1,768)	(6,943)
(Gain) loss on sale of loans		(562)
(Gain) loss on sale of other real estate owned	(7,170)	(72)
(Gain) loss on sale of premises and equipment	112	18
Deferred tax expense	(30,386)
Stock-based compensation and warrant expense	3,442	888
Increase in cash surrender value of BOLI	(2,194)	(1,856)
Net change in operating assets and liabilities:
Net change in loans held for sale	(4,075)	(1,492)
Collection from FDIC on loss share indemnification asset		5,597
Settlement of FDIC loss share agreement	(14,815)
Net change in other assets	(3,021)	(8,669)
Net change in other liabilities	(5,741)	6,971
Net cash provided by (used in) operating activities	6,889	22,694
Cash Flows From Investing Activities:
Purchase of investment securities available for sale	(462,125)	(840,453)
Sales of investment securities available for sale	318,927	515,359
Paydown and maturities of investment securities held to maturity		372
Paydown and maturities of investment securities available for sale	76,680	87,104
Purchase of FHLB and other bank stock	(36,852)	(39,785)
Sales of FHLB and other bank stock	33,238	19,644
Net cash paid in acquisition		(14,073)
Net change in loans	(369,060)	(419,417)
Purchase of loans	(241,727)	(72,504)
Proceeds from sale of loans		23,329
Purchase of bank-owned life insurance		(40,000)
Proceeds from sale of other real estate owned	53,705	20,988
Purchase of premises and equipment	(731)	(443)
Proceeds from life insurance	1,193
Net cash provided by (used in) investing activities	(626,752)	(759,879)
Cash Flows From Financing Activities:
Net change in deposits	487,810	301,594
Net change in FHLB advances and other borrowings	109,414	328,485
Net change in repurchase agreements	56,790	(1,166)
Repurchase of stock	(802)
Exercise of stock options	873
Other financing costs	(21)	(335)
Net cash provided by (used in) financing activities	654,064	628,578
Net Change in Cash and Cash Equivalents	34,201	(108,607)
Cash and Cash Equivalents at Beginning of Period	107,085	239,217
Cash and Cash Equivalents at End of Period	141,286	130,610
Supplemental Disclosures of Cash Flow Information:
Interest paid	13,768	13,191
Income taxes paid	4,786	5,816
Supplemental disclosure of noncash investing and financing activities:
Transfer of loans to other real estate owned	14,835	12,869
Fair value of assets acquired		957,324
Goodwill recorded		47,355
Liabilities assumed		962,194
Securities purchased not settled	5,020	$ 41,601
Securities sold not settled	$ 430

XML

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

Summary of Unfunded Commitments

Unfunded commitments are as follows:

	June 30, 2015		December 31, 2014
	(Dollars in thousands)
Commitments to fund loans	$	428,736	$	351,369
Unused lines of credit		251,792		199,880
Commercial and standby letters of credit		14,158		10,223
Total	$	694,686	$	561,472

XML

Loans, Net - Schedule of Loans by Portfolio Segment (Detail) - USD ($) $ in Thousands		Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans	[1]	$ 3,807,547		$ 3,103,417
Total loans held in portfolio, net of discount, premium and deferred fees and costs		4,527,722		3,929,590
Allowance for loan losses		(27,046)	$ (24,513)	(22,880)	$ (17,884)	$ (15,494)	$ (14,733)
Loans, net		4,500,676		3,906,710
Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(9,652)	(9,296)	(8,206)	(6,354)	(5,088)	(4,458)
Owner Occupied Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(1,548)	(1,252)	(1,020)	(806)	(435)	(376)
1- 4 Single Family Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(5,744)	(5,213)	(4,740)	(2,426)	(1,587)	(1,443)
Construction Land and Development [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(3,024)	(2,312)	(2,456)	(1,935)	(1,900)	(1,819)
Home Equity Loans and Lines of Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(563)	(398)	(355)	(113)	(151)	(265)
Commercial and Industrial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(6,059)	(5,705)	(5,745)	(5,924)	(5,977)	(6,198)
Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(456)	$ (337)	(358)	(326)	$ (356)	$ (174)
Real Estate Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans	[1]	2,963,944		2,301,861
Total loans held in portfolio, net of discount, premium and deferred fees and costs		3,613,251		3,043,504
Real Estate Loans [Member] | Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans	[1]	942,424		853,074
Total loans held in portfolio, net of discount, premium and deferred fees and costs		1,291,234		1,260,155
Real Estate Loans [Member] | Owner Occupied Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans	[1]	400,438		281,703
Total loans held in portfolio, net of discount, premium and deferred fees and costs		420,298		296,545
Real Estate Loans [Member] | 1- 4 Single Family Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans	[1]	1,248,625		922,657
Total loans held in portfolio, net of discount, premium and deferred fees and costs		1,412,228		1,111,244
Real Estate Loans [Member] | Construction Land and Development [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans	[1]	349,659		232,601
Total loans held in portfolio, net of discount, premium and deferred fees and costs		413,722		309,030
Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans	[1]	22,798		11,826
Total loans held in portfolio, net of discount, premium and deferred fees and costs		75,769		66,530
Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans	[1]	843,603		801,556
Total loans held in portfolio, net of discount, premium and deferred fees and costs		914,471		886,086
Other Loans [Member] | Commercial and Industrial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans	[1]	837,270		795,000
Total loans held in portfolio, net of discount, premium and deferred fees and costs		904,969		876,046
Other Loans [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans	[1]	6,333		6,556
Total loans held in portfolio, net of discount, premium and deferred fees and costs		9,502		10,040
ASC 310-30 Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans		479,208		317,906
Allowance for loan losses		(5,168)			(5,407)
Covered loans, net of discount, premium and deferred fees and costs				242,338
ASC 310-30 Loans [Member] | Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(2,585)			(2,883)
ASC 310-30 Loans [Member] | 1- 4 Single Family Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(270)			(207)
ASC 310-30 Loans [Member] | Construction Land and Development [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(793)			(660)
ASC 310-30 Loans [Member] | Commercial and Industrial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(1,133)			(1,359)
ASC 310-30 Loans [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(387)			(298)
ASC 310-30 Loans [Member] | Real Estate Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans		418,639		280,693
Covered loans, net of discount, premium and deferred fees and costs				209,250
ASC 310-30 Loans [Member] | Real Estate Loans [Member] | Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans		286,337		181,885
Covered loans, net of discount, premium and deferred fees and costs				155,050
ASC 310-30 Loans [Member] | Real Estate Loans [Member] | 1- 4 Single Family Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans		76,849		52,011
Covered loans, net of discount, premium and deferred fees and costs				34,297
ASC 310-30 Loans [Member] | Real Estate Loans [Member] | Construction Land and Development [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans		55,453		46,797
Covered loans, net of discount, premium and deferred fees and costs				19,903
ASC 310-30 Loans [Member] | Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans		60,569		37,213
Covered loans, net of discount, premium and deferred fees and costs				33,088
ASC 310-30 Loans [Member] | Other Loans [Member] | Commercial and Industrial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans		58,045		34,967
Covered loans, net of discount, premium and deferred fees and costs				32,531
ASC 310-30 Loans [Member] | Other Loans [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans		2,524		2,246
Covered loans, net of discount, premium and deferred fees and costs				557
Non-ASC 310-30 Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans		240,967		234,901
Allowance for loan losses		(2,299)			(63)
Covered loans, net of discount, premium and deferred fees and costs				31,028
Non-ASC 310-30 Loans [Member] | Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(1,375)			(8)
Non-ASC 310-30 Loans [Member] | Owner Occupied Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(54)			(7)
Non-ASC 310-30 Loans [Member] | 1- 4 Single Family Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(335)			(7)
Non-ASC 310-30 Loans [Member] | Construction Land and Development [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(56)
Non-ASC 310-30 Loans [Member] | Home Equity Loans and Lines of Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(432)			(32)
Non-ASC 310-30 Loans [Member] | Commercial and Industrial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(41)			(6)
Non-ASC 310-30 Loans [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses		(6)			$ (3)
Non-ASC 310-30 Loans [Member] | Real Estate Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans		230,668		225,016
Covered loans, net of discount, premium and deferred fees and costs				26,684
Non-ASC 310-30 Loans [Member] | Real Estate Loans [Member] | Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans		62,473		63,944
Covered loans, net of discount, premium and deferred fees and costs				6,202
Non-ASC 310-30 Loans [Member] | Real Estate Loans [Member] | Owner Occupied Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans		19,860		12,431
Covered loans, net of discount, premium and deferred fees and costs				2,411
Non-ASC 310-30 Loans [Member] | Real Estate Loans [Member] | 1- 4 Single Family Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans		86,754		94,993
Covered loans, net of discount, premium and deferred fees and costs				7,286
Non-ASC 310-30 Loans [Member] | Real Estate Loans [Member] | Construction Land and Development [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans		8,610		9,729
Non-ASC 310-30 Loans [Member] | Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans		52,971		43,919
Covered loans, net of discount, premium and deferred fees and costs				10,785
Non-ASC 310-30 Loans [Member] | Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans		10,299		9,885
Covered loans, net of discount, premium and deferred fees and costs				4,344
Non-ASC 310-30 Loans [Member] | Other Loans [Member] | Commercial and Industrial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans		9,654		9,240
Covered loans, net of discount, premium and deferred fees and costs				4,308
Non-ASC 310-30 Loans [Member] | Other Loans [Member] | Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-Covered loans		$ 645		645
Covered loans, net of discount, premium and deferred fees and costs				$ 36

[1] Balance includes $(5.6) million and $3.6 million of deferred fees, costs, and premium and discount as of June 30, 2015 and December 31, 2014, respectively.

XML

Covered Assets and Loss Sharing Agreements - Summary of Changes in Clawback Liability included Other Liabilities (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Other Liabilities Disclosure [Abstract]
Balance at beginning of period	$ 12,060	$ 13,846	$ 11,753
Termination of FDIC loss sharing agreements		$ (13,846)
Amortization impact	181		357
Remeasurement impact	284		415
Balance at end of period	$ 12,525		$ 12,525

XML

Fair Value Measurements - Schedule of Carrying Amounts and Estimated Fair Values, as well as the Level Within the Fair Value Hierarchy (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 04, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 141,286		$ 107,085	$ 130,610		$ 239,217
Available for sale securities	1,430,149		1,359,098
Loans, net	4,500,676		3,906,710
Loans held for sale	4,782		707
Loss share indemnification asset	0		63,168	74,853	$ 80,605	87,229
Due from FDIC		$ 0	1,735
Bank-owned life insurance	140,830		139,829
Deposits	4,466,087		3,978,535
Advances from the FHLB and other borrowings	1,232,893		1,067,981
Clawback liability			13,846	$ 12,525	$ 12,060	$ 11,753
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	141,286		107,085
Available for sale securities	1,430,149		1,359,098
FHLB and other bank stock	70,505		66,891
Loans, net	4,500,676		3,906,710
Loans held for sale	4,782		707
Loss share indemnification asset			63,168
Due from FDIC			1,735
Bank-owned life insurance	140,830		139,829
Derivative assets - Interest rate contracts	15,387		14,328
Deposits	4,466,087		3,978,535
Advances from the FHLB and other borrowings	1,232,893		1,067,981
Derivative liabilities - Interest rate contracts	15,387		14,328
Clawback liability			13,846
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	141,286		107,085
Available for sale securities	1,430,149		1,359,098
FHLB and other bank stock	70,505		66,891
Loans, net	4,540,556		3,959,771
Loans held for sale	4,782		707
Loss share indemnification asset			27,976
Due from FDIC			1,735
Bank-owned life insurance	140,830		139,829
Derivative assets - Interest rate contracts	15,387		14,328
Deposits	4,467,199		3,977,629
Advances from the FHLB and other borrowings	1,233,205		1,066,764
Derivative liabilities - Interest rate contracts	15,387		14,328
Clawback liability			13,846
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	141,286		107,085
Available for sale securities	2,034		23,594
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available for sale securities	1,428,115		1,335,504
FHLB and other bank stock	70,505		66,891
Loans held for sale	4,782		707
Due from FDIC			1,735
Bank-owned life insurance	140,830		139,829
Derivative assets - Interest rate contracts	15,387		14,328
Deposits	4,467,199		3,977,629
Advances from the FHLB and other borrowings	1,233,205		1,066,764
Derivative liabilities - Interest rate contracts	15,387		14,328
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans, net	$ 4,540,556		3,959,771
Loss share indemnification asset			27,976
Clawback liability			$ 13,846

XML

Consolidated Balance Sheets - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Assets:
Cash and due from banks		$ 32,161	$ 25,397
Interest-earning deposits in other banks		109,125	81,688
Investment securities:
Available for sale securities, at fair value		1,430,149	1,359,098
Federal Home Loan Bank and other bank stock, at cost		70,505	66,891
Total investment securities		1,500,654	1,425,989
Loans held for sale		4,782	707
Loans:
New loans	[1]	3,807,547	3,103,417
Acquired loans ($0 and $273,366 covered by FDIC loss share, respectively)		720,175	826,173
Allowance for loan losses		(27,046)	(22,880)
Loans, net		4,500,676	3,906,710
FDIC loss share indemnification asset		0	63,168
Due from FDIC			1,735
Premises and equipment, net		37,641	38,962
Other real estate owned ($0 and $25,130 of foreclosed property covered by FDIC loss share, respectively)		42,654	74,527
Goodwill and other intangible assets		87,884	88,615
Deferred tax assets, net (including valuation allowance of $9,126 and $9,151, respectively)		76,720	47,441
Bank-owned life insurance		140,830	139,829
Other assets		74,071	62,860
Total assets		6,607,198	5,957,628
Transaction accounts:
Noninterest-bearing		621,845	593,025
Interest-bearing		2,586,491	2,308,657
Total transaction accounts		3,208,336	2,901,682
Time deposits		1,257,751	1,076,853
Total deposits		4,466,087	3,978,535
Borrowings (including FHLB advances of $1,093,100 and $983,686, respectively)		1,232,893	1,067,981
Other liabilities		50,739	59,459
Total liabilities		$ 5,749,719	$ 5,105,975
Commitments and contingencies (Note 12)
Stockholders' Equity:
Additional paid-in capital		$ 839,265	$ 834,538
Retained earnings		37,646	35,144
Accumulated other comprehensive income (loss)		78	679
Treasury stock, at cost; 957,312 Class A and 192,132 Class B common shares		(19,553)	(18,751)
Total stockholders' equity		857,479	851,653
Total liabilities and stockholders' equity		6,607,198	5,957,628
Class A Common Stock [Member]
Stockholders' Equity:
Common stock		37	36
Total stockholders' equity		37	36
Class B Common Stock [Member]
Stockholders' Equity:
Common stock		6	7
Total stockholders' equity		$ 6	$ 7

[1] Balance includes $(5.6) million and $3.6 million of deferred fees, costs, and premium and discount as of June 30, 2015 and December 31, 2014, respectively.

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Allowance for Loan Losses - Aging Analysis of Recorded Investment for Loans by Portfolio and Segment (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
New Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual	$ 14	$ 116
Financing Receivable, Recorded Investment, Past Due	14	7,049
New Loans [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due		6,206
New Loans [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due		727
New Loans [Member] | Real Estate Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual		116
Financing Receivable, Recorded Investment, Past Due		7,049
New Loans [Member] | Real Estate Loans [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due		6,206
New Loans [Member] | Real Estate Loans [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due		727
New Loans [Member] | Real Estate Loans [Member] | 1- 4 Single Family Residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual		116
Financing Receivable, Recorded Investment, Past Due		7,049
New Loans [Member] | Real Estate Loans [Member] | 1- 4 Single Family Residential [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due		6,206
New Loans [Member] | Real Estate Loans [Member] | 1- 4 Single Family Residential [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due		727
New Loans [Member] | Other Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual	14
Financing Receivable, Recorded Investment, Past Due	14
New Loans [Member] | Other Loans [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual	14
Financing Receivable, Recorded Investment, Past Due	14
Acquired Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual	10,061	11,070
Financing Receivable, Recorded Investment, Past Due	10,502	14,079
Acquired Loans [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	153	2,275
Acquired Loans [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	288	734
Acquired Loans [Member] | Real Estate Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual	9,325	9,848
Financing Receivable, Recorded Investment, Past Due	9,766	12,651
Acquired Loans [Member] | Real Estate Loans [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	153	2,261
Acquired Loans [Member] | Real Estate Loans [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	288	542
Acquired Loans [Member] | Real Estate Loans [Member] | Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual	4,865	4,866
Financing Receivable, Recorded Investment, Past Due	4,865	4,866
Acquired Loans [Member] | Real Estate Loans [Member] | Owner Occupied Commercial Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual	5	211
Financing Receivable, Recorded Investment, Past Due	5	211
Acquired Loans [Member] | Real Estate Loans [Member] | 1- 4 Single Family Residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual	1,649	1,766
Financing Receivable, Recorded Investment, Past Due	1,649	3,729
Acquired Loans [Member] | Real Estate Loans [Member] | 1- 4 Single Family Residential [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due		1,877
Acquired Loans [Member] | Real Estate Loans [Member] | 1- 4 Single Family Residential [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due		86
Acquired Loans [Member] | Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual	2,806	3,005
Financing Receivable, Recorded Investment, Past Due	3,247	3,845
Acquired Loans [Member] | Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	153	384
Acquired Loans [Member] | Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	288	456
Acquired Loans [Member] | Other Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual	736	1,222
Financing Receivable, Recorded Investment, Past Due	736	1,428
Acquired Loans [Member] | Other Loans [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due		14
Acquired Loans [Member] | Other Loans [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due		192
Acquired Loans [Member] | Other Loans [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual	736	1,222
Financing Receivable, Recorded Investment, Past Due	$ 736	1,414
Acquired Loans [Member] | Other Loans [Member] | Commercial and Industrial [Member] | 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due		192
Acquired Loans [Member] | Other Loans [Member] | Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due		14
Acquired Loans [Member] | Other Loans [Member] | Consumer [Member] | 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due		$ 14

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Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement Of Comprehensive Income [Abstract]
Unrealized net holding gains (losses) on investment securities available for sale, Taxes	$ 6,121	$ (4,894)	$ (501)	$ (7,606)
Reclassification adjustment for realized (gains) losses on investment securities available for sale included in net income, Taxes	$ 456	$ 1,148	$ 879	$ 1,480

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Accumulated Other Comprehensive Income - Schedule of Changes in Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Changes In Accumulated Other Comprehensive Income [Abstract]
Balance at beginning of period	$ 17,178	$ 3,606	$ 1,106	$ (2,565)
Net unrealized holdings gain (loss) arising during the period, Before tax	(15,868)	12,685	1,300	19,715
Amounts reclassified to (gain) loss on investment securities, Before tax	(1,183)	(2,978)	(2,279)	(3,837)
Balance at end of period	127	13,313	127	13,313
Balance at beginning of period	(6,626)	(1,390)	(427)	990
Net unrealized holdings gain (loss) arising during the period, Tax effect	6,121	(4,894)	(501)	(7,606)
Amounts reclassified to (gain) loss on investment securities, Tax effect	456	1,148	879	1,480
Balance at end of period	(49)	(5,136)	(49)	(5,136)
Balance at beginning of period	10,552	2,216	679	(1,575)
Net unrealized holdings gain (loss) arising during the period, Net of tax	(9,747)	7,791	799	12,109
Amounts reclassified to (gain) loss on investment securities, Net of tax	(727)	(1,830)	(1,400)	(2,357)
Balance at end of period	$ 78	$ 8,177	$ 78	$ 8,177

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Investment Securities - Summary of Amortized Cost, Gross Unrealized Gains and Losses and Approximate Fair Values of Securities Available for Sale (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost	$ 1,430,022	$ 1,357,992
Available for sale securities, Unrealized Gains	9,598	10,137
Available for sale securities, Unrealized Losses	9,471	9,031
Available for sale securities, Fair Value	1,430,149	1,359,098
U.S. Government Agencies and Sponsored Enterprises Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost	5,306	6,078
Available for sale securities, Unrealized Gains	98	18
Available for sale securities, Fair Value	5,404	6,096
U.S. Government Agencies and Sponsored Enterprises Mortgage-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost	375,061	497,384
Available for sale securities, Unrealized Gains	3,743	5,172
Available for sale securities, Unrealized Losses	522	904
Available for sale securities, Fair Value	378,282	501,652
State and Municipal Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost	2,040	2,039
Available for sale securities, Unrealized Gains	190	238
Available for sale securities, Fair Value	2,230	2,277
Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost	456,912	482,969
Available for sale securities, Unrealized Gains	2,438	1,424
Available for sale securities, Unrealized Losses	1,612	6,192
Available for sale securities, Fair Value	457,738	478,201
Corporate Bonds and Other Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost	419,553	256,155
Available for sale securities, Unrealized Gains	2,786	3,024
Available for sale securities, Unrealized Losses	5,078	496
Available for sale securities, Fair Value	417,261	258,683
Preferred Stock and Other Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Amortized Cost	171,150	113,367
Available for sale securities, Unrealized Gains	343	261
Available for sale securities, Unrealized Losses	2,259	1,439
Available for sale securities, Fair Value	$ 169,234	$ 112,189

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Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Reserve for unfunded commitments	$ 1.5	$ 1.2

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Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

General

General

The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all information and notes to the consolidated financial statements necessary for a complete presentation of financial position, results of operations, comprehensive income and cash flows in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and should be read in conjunction with the audited consolidated financial statements and the notes thereto for FCB Financial Holdings, Inc. (the “Company”) previously filed with the SEC in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. In the opinion of management, all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation have been included. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period.

Nature of Operations

Nature of Operations

FCB Financial Holdings, Inc., formerly known as Bond Street Holdings, Inc., is a national bank holding company with one wholly-owned national bank subsidiary, Florida Community Bank, N.A. (“Florida Community Bank” or the “Bank”), headquartered in Weston, Florida, offering a comprehensive range of traditional banking products and services to individual and corporate customers through 48 banking centers located in Florida at June 30, 2015.

Principles of Consolidation

Principles of Consolidation

The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiary, the Bank, and the Bank’s subsidiaries, which consist of a group of real estate holding companies. Intercompany transactions and balances have been eliminated in consolidation.

Use of Estimates

Use of Estimates

The Company’s financial reporting and accounting policies conform to U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Material estimates subject to significant change include the allowance for loan losses, valuation of and accounting for loans covered by loss sharing arrangements with the Federal Deposit Insurance Corporation (“FDIC”) and the related loss share receivable, valuation of and accounting for acquired loans, the carrying value of OREO, the fair value of financial instruments, the valuation of goodwill and other intangible assets, contingent consideration liabilities, acquisition-related fair value computations, stock-based compensation and deferred taxes.

Reclassifications

Reclassifications

In certain instances, amounts reported in prior periods consolidated financial statements have been reclassified to conform to the current period presentation. Such reclassifications had no effect on previously reported net income or total stockholders’ equity.

For the 2014 Consolidated Statements of Cash Flows, the Company reclassified $41.6 million to investing activities from operating activities related to the settlement of investment securities and $14.7 million to operating activities from investing activities related to accretion income on acquired loans. In addition, the Company reclassified cash collections of $5.6 million from the FDIC on loss share indemnification assets from investing activities to operating activities.

Recently Adopted Accounting Pronouncements

Recently Adopted Accounting Pronouncements

In July 2013, the FASB issued ASU No. 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” to provide guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists thereby reducing diversity in practice. The amendments in this update became effective for the first quarter ended March 31, 2015. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

Section 107 of the JOBS Act provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards affecting public companies. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to use the extended transition period provided in Section 7(a)(2)(B) of the Securities Act until the earlier of the date we (i) are no longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in Section 7(a)(2)(B).

In February 2015, the FASB issued ASU No. 2015-02, “Amendments to the Consolidated Analysis (ASC 810, Consolidation)” which amends the consolidation requirements of ASC 810 by reducing the number of consolidation models. The guidance places more emphasis on risk of loss when determining a controlling financial interest; reduces the frequency of the application of related-party guidance when determining a controlling financial interest and changes the consolidation requirements of limited partnerships. For public entities, this guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. For all other entities, including emerging growth companies, the amendments in this Update are effective for fiscal years beginning after December 15, 2016, and for interim periods within fiscal years beginning after December 15, 2017. A reporting entity may apply the amendments in this ASU using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption or may apply the amendments retrospectively. The Company is currently evaluating this guidance to determine the impact on its consolidated financial position, results of operations and cash flows but does not expect the adoption of this ASU to have a material impact on our consolidated financial statements.

In January 2015, the FASB issued ASU No. 2015-01, “Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items (ASC 225-20, Extraordinary and Unusual Items)” which eliminates the concept of extraordinary items. The amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 for all entities. Under the ASU, extraordinary items will no longer be segregated from the results of ordinary operations and presented separately on the consolidated financial statements. The amendments may be applied prospectively or retrospectively to all prior periods. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements.

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Investment Securities - Additional Information (Detail) $ in Millions	Jun. 30, 2015 USD ($) Securities	Dec. 31, 2014 USD ($)
Investments, Debt and Equity Securities [Abstract]
Carrying value of pledged securities | $	$ 761.8	$ 685.3
Security portfolio consisted	287
Securities were in an unrealized loss position	118
Unrealized loss position for less than 12 months	92

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Loans, Net (Tables)

6 Months Ended

Jun. 30, 2015

Receivables [Abstract]

Schedule of Loans by Portfolio Segment

The following tables summarize the Company’s loans by portfolio segment as of the periods presented, net of deferred fees, costs, and premium and discount:

	Covered Loans				Non-Covered Loans
June 30, 2015	ASC 310-30 Loans		Non-ASC 310-30 Loans		ASC 310-30 Loans		Non-ASC 310-30 Loans		New Loans (1)		Total
	(Dollars in thousands)
Real estate loans:
Commercial real estate	$	—	$	—	$	286,337	$	62,473	$	942,424	$	1,291,234
Owner-occupied commercial real estate		—		—		—		19,860		400,438		420,298
1-4 single family residential		—		—		76,849		86,754		1,248,625		1,412,228
Construction, land and development		—		—		55,453		8,610		349,659		413,722
Home equity loans and lines of credit		—		—		—		52,971		22,798		75,769
Total real estate loans	$	—	$	—	$	418,639	$	230,668	$	2,963,944	$	3,613,251
Other loans:
Commercial and industrial	$	—	$	—	$	58,045	$	9,654	$	837,270	$	904,969
Consumer		—		—		2,524		645		6,333		9,502
Total other loans		—		—		60,569		10,299		843,603		914,471
Total loans held in portfolio	$	—	$	—	$	479,208	$	240,967	$	3,807,547	$	4,527,722
Allowance for loan losses												(27,046	)
Loans held in portfolio, net											$	4,500,676
	Covered Loans				Non-Covered Loans
December 31, 2014	ASC 310-30 Loans		Non-ASC 310-30 Loans		ASC 310-30 Loans		Non-ASC 310-30 Loans		New Loans (1)		Total
	(Dollars in thousands)
Real estate loans:
Commercial real estate	$	155,050	$	6,202	$	181,885	$	63,944	$	853,074	$	1,260,155
Owner-occupied commercial real estate		—		2,411		—		12,431		281,703		296,545
1-4 single family residential		34,297		7,286		52,011		94,993		922,657		1,111,244
Construction, land and development		19,903		—		46,797		9,729		232,601		309,030
Home equity loans and lines of credit		—		10,785		—		43,919		11,826		66,530
Total real estate loans	$	209,250	$	26,684	$	280,693	$	225,016	$	2,301,861	$	3,043,504
Other loans:
Commercial and industrial	$	32,531	$	4,308	$	34,967	$	9,240	$	795,000	$	876,046
Consumer		557		36		2,246		645		6,556		10,040
Total other loans		33,088		4,344		37,213		9,885		801,556		886,086
Total loans held in portfolio	$	242,338	$	31,028	$	317,906	$	234,901	$	3,103,417	$	3,929,590
Allowance for loan losses												(22,880	)
Loans held in portfolio, net											$	3,906,710

(1) Balance includes $(5.6) million and $3.6 million of deferred fees, costs, and premium and discount as of June 30, 2015 and December 31, 2014, respectively.

Summary of Changes in Accretable Discount for ASC 310-30 Loans

Changes in accretable discount for ASC 310-30 loans for the six months ended June 30, 2015 and 2014 were as follows:

	Six Months Ended June 30,
	2015			2014
	(Dollars in thousands)
Balance at January 1,	$	156,197		$	148,501
Additions to accretable discount from GFB acquisition		—			40,444
Accretion		(23,667	)		(31,231	)
Reclassifications from non-accretable difference		9,760			13,030
Balance at June 30,	$	142,290		$	170,744

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Fair Value Measurements - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015 USD ($) Instruments	Jun. 30, 2014 USD ($)	Mar. 04, 2015 USD ($)	Dec. 31, 2014 USD ($)	Mar. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Fair Value Disclosures [Abstract]
No transfers of financial assets between levels of the fair value hierarchy	$ 0	$ 0
Loss share indemnification asset	$ 0	$ 74,853,000		$ 63,168,000	$ 80,605,000	$ 87,229,000
Reimbursement period	90 days
Due from FDIC			$ 0	$ 1,735,000
No remaining EAAs as the agreements settled with the FDIC | Instruments	0

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Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Class A Common Stock [Member]	Class B Common Stock [Member]	Additional Paid in Capital [Member]	Retained Earnings (Deficit) [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning Balance at Dec. 31, 2013	$ 716,114	$ 29	$ 8	$ 723,631	$ 12,772	$ (18,751)	$ (1,575)
Beginning Balance, shares at Dec. 31, 2013		28,065,002	7,827,152
Net income (loss)	12,694				12,694
Exchange of B shares to A shares, shares		68,499	(68,499)
Stock-based compensation	888			888
Other comprehensive income (loss)	9,752						9,752
Ending Balance at Jun. 30, 2014	739,448	$ 29	$ 8	724,519	25,466	(18,751)	8,177
Ending Balance, shares at Jun. 30, 2014		28,133,501	7,758,653
Beginning Balance at Dec. 31, 2014	851,653	$ 36	$ 7	834,538	35,144	(18,751)	679
Beginning Balance, shares at Dec. 31, 2014		34,469,650	6,940,048
Net income (loss)	2,502				2,502
Exchange of B shares to A shares		$ 1	$ (1)
Exchange of B shares to A shares, shares		2,366,406	(2,366,406)
Stock-based compensation	3,874			3,874
Treasury stock purchase	(802)					(802)
Treasury stock purchase,shares		(30,000)
Exercise of stock options	873			873
Exercise of stock options, shares		43,501
Other	(20)			(20)
Other comprehensive income (loss)	(601)						(601)
Ending Balance at Jun. 30, 2015	$ 857,479	$ 37	$ 6	$ 839,265	$ 37,646	$ (19,553)	$ 78
Ending Balance, shares at Jun. 30, 2015		36,849,557	4,573,642

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Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Acquired loans covered by FDIC loss share	$ 0	$ 273,366
Foreclosed property covered by FDIC loss share	0	25,130
Valuation allowance	9,126	9,151
FHLB advances	$ 1,093,100	$ 983,686
Class A Common Stock [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	37,806,869	35,396,962
Common stock, shares outstanding	36,849,557	34,469,650
Treasury stock, shares	957,312	927,312
Class B Common Stock [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	4,765,774	7,132,180
Common stock, shares outstanding	4,573,642	6,940,048
Treasury stock, shares	192,132	192,132

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Basic and Diluted Earnings Per Share

6 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Basic and Diluted Earnings Per Share

NOTE 9. BASIC AND DILUTED EARNINGS PER SHARE

Basic EPS is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS reflect the effect of common stock equivalents, including stock options and unvested shares, calculated using the treasury stock method. Common stock equivalents are excluded from the computation of diluted EPS in periods in which the effect is anti-dilutive.

The following table presents the computation of basic and diluted EPS:

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
	(Dollars in thousands, except share and per share data)
Net income (loss) available to common stockholders	$	19,376	$	9,166	$	2,502	$	12,694
Weighted average number of common shares - basic		41,428,588		35,892,154		41,425,240		35,892,154
Effect of dilutive securities:
Employee stock-based compensation awards		1,677,543		4,053		1,327,574		4,103
Weighted average number of common shares - diluted		43,106,131		35,896,207		42,752,814		35,896,257
Basic earnings (loss) per share	$	0.47	$	0.26	$	0.06	$	0.35
Diluted earnings (loss) per share	$	0.45	$	0.26	$	0.06	$	0.35
Anti-dilutive warrants, stock options and RSUs		560,704		9,424,582		1,715,989		9,386,102

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Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Trading Symbol	FCB
Entity Registrant Name	FCB FINANCIAL HOLDINGS, INC.
Entity Central Index Key	0001476651
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		37,457,737
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		4,129,662

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Income Taxes

6 Months Ended

Jun. 30, 2015

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 10. INCOME TAXES

The Company uses an estimated annual effective tax rate method in computing its interim tax provision. This effective tax rate is based on forecasted annual pre-tax income, permanent tax differences and statutory tax rates.

The effective tax rates for the three months ended June 30, 2015 and 2014, were 35.0% and 33.9% respectively. The increase in the effective tax rate for the second quarter of 2015 was primarily due to higher levels of pre-tax income, which is subject to the marginal tax rate and changes in permanent tax differences. The tax rate differs from the statutory rate due to the impact of tax benefits related to bank-owned life insurance, dividends received deductions, and certain stock-based compensation awards.

The effective tax rates for the six months ended June 30, 2015 and 2014, were 133.8% and 33.9% respectively. The increase in the effective tax rate for the six months ended June 30, 2015 reflects a net tax benefit due to the loss associated with the early termination of the FDIC loss share agreements and a deferred tax asset benefit associated with a revaluation of net unrealized built-in losses related to the Company’s acquisition of Great Florida Bank on January 31, 2014.

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Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Interest income:
Interest and fees on loans	$ 44,202	$ 37,833	$ 87,508	$ 72,685
Interest and dividends on investment securities	13,169	10,566	25,279	20,564
Other interest income	40	53	73	121
Total interest income	57,411	48,452	112,860	93,370
Interest expense:
Interest on deposits	5,991	5,833	11,576	11,142
Interest on borrowings	1,246	1,466	2,226	2,730
Total interest expense	7,237	7,299	13,802	13,872
Net interest income	50,174	41,153	99,058	79,498
Provision for loan losses	2,470	3,236	3,819	4,326
Net interest income after provision for loan losses	47,704	37,917	95,239	75,172
Noninterest income:
Service charges and fees	778	707	1,535	1,445
Loan and other fees	1,906	2,569	4,403	3,285
Bank-owned life insurance income	1,097	1,038	2,194	1,856
FDIC loss share indemnification loss		(5,247)	(65,529)	(10,239)
Income from resolution of acquired assets	2,898	1,692	6,270	2,729
Gain (loss) on sales of other real estate owned	5,605	(359)	7,170	72
Gain (loss) on investment securities	761	4,448	1,768	6,943
Other noninterest income	1,107	1,842	2,252	3,147
Total noninterest income	14,152	6,690	(39,937)	9,238
Noninterest expense:
Salaries and employee benefits	17,856	13,411	34,431	29,831
Occupancy and equipment expenses	3,806	3,777	7,083	7,210
Loan and other real estate related expenses	1,425	3,338	3,501	7,099
Professional services	1,189	1,352	2,595	3,184
Data processing and network	2,801	2,357	5,519	5,567
Regulatory assessments and insurance	2,092	1,920	4,211	3,694
Amortization of intangibles	407	443	831	859
Other operating expenses	2,471	4,146	4,526	7,766
Total noninterest expense	32,047	30,744	62,697	65,210
Income (loss) before income tax expense (benefit)	29,809	13,863	(7,395)	19,200
Income tax expense (benefit)	10,433	4,697	(9,897)	6,506
Net income (loss)	$ 19,376	$ 9,166	$ 2,502	$ 12,694
Earnings (loss) per share:
Basic	$ 0.47	$ 0.26	$ 0.06	$ 0.35
Diluted	$ 0.45	$ 0.26	$ 0.06	$ 0.35
Weighted average shares outstanding:
Basic	41,428,588	35,892,154	41,425,240	35,892,154
Diluted	43,106,131	35,896,207	42,752,814	35,896,257

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Allowance for Loan Losses

6 Months Ended

Jun. 30, 2015

Receivables [Abstract]

Allowance for Loan Losses

NOTE 4. ALLOWANCE FOR LOAN LOSSES

The Company’s accounting method for loans and the corresponding allowance for loan losses (“ALL”) differs depending on whether the loans are New or Acquired. The Company assesses and monitors credit risk and portfolio performance using distinct methodologies for Acquired loans, both ASC 310-30 Loans and Non-ASC 310-30 Loans, and New loans. Within each of these portfolios, the Company further disaggregates the portfolios into the following segments: Commercial real estate, Owner-occupied commercial real estate, 1-4 single family residential, Construction, land and development, Home equity loans and lines of credit, Commercial and industrial and Consumer. The ALL reflects management’s estimate of probable credit losses inherent in each of the segments.

Changes in the ALL by loan class and portfolio segment for the three and six months ended June 30, 2015 and 2014 are as follows:

	Commercial Real Estate			Owner- Occupied Commercial Real Estate			1- 4 Single Family Residential			Construction, Land and Development			Home Equity Loans and Lines of Credit			Commercial and Industrial			Consumer			Total
	(Dollars in thousands)
Balance at April 1, 2015	$	9,296		$	1,252		$	5,213		$	2,312		$	398		$	5,705		$	337		$	24,513
Provision (credit) for ASC 310-30 loans		(784	)		—			(63	)		(178	)		—			143			115			(767	)
Provision for non-ASC 310-30 loans		848			(7	)		(7	)		(12	)		143			(11	)		(1	)		953
Provision for New loans		383			303			755			633			22			183			5			2,284
Total provision		447			296			685			443			165			315			119			2,470
Charge-offs for ASC 310-30 loans		(109	)		—			(121	)		—			—			(45	)		—			(275	)
Charge-offs for non-ASC 310-30 loans		—			—			(63	)		—			—			—			—			(63	)
Charge-offs for New loans		—			—			—			—			—			—			—			—
Total charge-offs		(109	)		—			(184	)		—			—			(45	)		—			(338	)
Recoveries for ASC 310-30 loans		18			—			30			269			—			82			—			399
Recoveries for non-ASC 310-30 loans		—			—			—			—			—			—			—			—
Recoveries for New loans		—			—			—			—			—			2			—			2
Total recoveries		18			—			30			269			—			84			—			401
Ending ALL balance
ASC 310-30 loans		2,585			—			270			793			—			1,133			387			5,168
Non-ASC 310-30 loans		1,375			54			335			56			432			41			6			2,299
New loans		5,692			1,494			5,139			2,175			131			4,885			63			19,579
Balance at June 30, 2015	$	9,652		$	1,548		$	5,744		$	3,024		$	563		$	6,059		$	456		$	27,046
	Commercial Real Estate			Owner- Occupied Commercial Real Estate			1- 4 Single Family Residential			Construction, Land and Development			Home Equity Loans and Lines of Credit			Commercial and Industrial			Consumer			Total
	(Dollars in thousands)
Balance at April 1, 2014	$	5,088		$	435		$	1,587		$	1,900		$	151		$	5,977		$	356		$	15,494
Provision (credit) for ASC 310-30 loans		191			—			212			(31	)		—			(539	)		(34	)		(201	)
Provision for non-ASC 310-30 loans		2			2			(45	)		—			89			16			32			96
Provision for New loans		982			369			702			499			(65	)		849			5			3,341
Total provision		1,175			371			869			468			24			326			3			3,236
Charge-offs for ASC 310-30 loans		—			—			(30	)		(444	)		—			(32	)		(4	)		(510	)
Charge-offs for non-ASC 310-30 loans		—			—			—			—			(62	)		—			(29	)		(91	)
Charge-offs for New loans		—			—			—			—			—			(348	)		—			(348	)
Total charge-offs		—			—			(30	)		(444	)		(62	)		(380	)		(33	)		(949	)
Recoveries for ASC 310-30 loans		91			—			—			11			—			1			—			103
Recoveries for non-ASC 310-30 loans		—			—			—			—			—			—			—			—
Recoveries for New loans		—			—			—			—			—			—			—			—
Total recoveries		91			—			—			11			—			1			—			103
Ending ALL balance
ASC 310-30 loans		2,883			—			207			660			—			1,359			298			5,407
Non-ASC 310-30 loans		8			7			7			—			32			6			3			63
New loans		3,463			799			2,212			1,275			81			4,559			25			12,414
Balance at June 30, 2014	$	6,354		$	806		$	2,426		$	1,935		$	113		$	5,924		$	326		$	17,884

	Commercial Real Estate			Owner- Occupied Commercial Real Estate			1- 4 Single Family Residential			Construction, Land and Development			Home Equity Loans and Lines of Credit			Commercial and Industrial			Consumer			Total
	(Dollars in thousands)
Balance at January 1, 2015	$	8,206		$	1,020		$	4,740		$	2,456		$	355		$	5,745		$	358		$	22,880
Provision (credit) for ASC 310-30 loans		(865	)		—			1			(198	)		—			119			157			(786	)
Provision (credit) for non-ASC 310-30 loans		880			(4	)		49			(19	)		147			(8	)		—			1,045
Provision (credit) for New loans		1,236			532			1,138			452			61			140			1			3,560
Total provision		1,251			528			1,188			235			208			251			158			3,819
Charge-offs for ASC 310-30 loans		(205	)		—			(207	)		(56	)		—			(75	)		(60	)		(603	)
Charge-offs for non-ASC 310-30 loans		—			—			(128	)		—			—			—			—			(128	)
Charge-offs for New loans		—			—			—			—			—			—			—			—
Total charge-offs		(205	)		—			(335	)		(56	)		—			(75	)		(60	)		(731	)
Recoveries for ASC 310-30 loans		400			—			151			389			—			131			—			1,071
Recoveries for non-ASC 310-30 loans		—			—			—			—			—			—			—			—
Recoveries for New loans		—			—			—			—			—			7			—			7
Total recoveries		400			—			151			389			—			138			—			1,078
Ending ALL balance
ASC 310-30 loans		2,585			—			270			793			—			1,133			387			5,168
Non-ASC 310-30 loans		1,375			54			335			56			432			41			6			2,299
New loans		5,692			1,494			5,139			2,175			131			4,885			63			19,579
Balance at June 30, 2015	$	9,652		$	1,548		$	5,744		$	3,024		$	563		$	6,059		$	456		$	27,046
	Commercial Real Estate			Owner- Occupied Commercial Real Estate			1- 4 Single Family Residential			Construction, Land and Development			Home Equity Loans and Lines of Credit			Commercial and Industrial			Consumer			Total
	(Dollars in thousands)
Balance at January 1, 2014	$	4,458		$	376		$	1,443		$	1,819		$	265		$	6,198		$	174		$	14,733
Provision (credit) for ASC 310-30 loans		191			—			152			133			—			(871	)		232			(163	)
Provision (credit) for non-ASC 310-30 loans		3			2			(45	)		—			(4	)		24			32			12
Provision (credit) for New loans		1,685			428			906			441			(45	)		1,054			8			4,477
Total provision		1,879			430			1,013			574			(49	)		207			272			4,326
Charge-offs for ASC 310-30 loans		(74	)		—			(30	)		(1,245	)		—			(110	)		(91	)		(1,550	)
Charge-offs for non-ASC 310-30 loans		—			—			—			—			(103	)		(24	)		(29	)		(156	)
Charge-offs for New loans		—			—			—			—			—			(348	)		—			(348	)
Total charge-offs		(74	)		—			(30	)		(1,245	)		(103	)		(482	)		(120	)		(2,054	)
Recoveries for ASC 310-30 loans		91			—			—			787			—			1			—			879
Recoveries for non-ASC 310-30 loans		—			—			—			—			—			—			—			—
Recoveries for New loans		—			—			—			—			—			—			—			—
Total recoveries		91			—			—			787			—			1			—			879
Ending ALL balance
ASC 310-30 loans		2,883			—			207			660			—			1,359			298			5,407
Non-ASC 310-30 loans		8			7			7			—			32			6			3			63
New loans		3,463			799			2,212			1,275			81			4,559			25			12,414
Balance at June 30, 2014	$	6,354		$	806		$	2,426		$	1,935		$	113		$	5,924		$	326		$	17,884

Credit Quality Indicators

In evaluating credit risk, the Company looks at multiple factors; however, management considers delinquency status to be the most meaningful indicator of the credit quality of 1-4 single family residential, home equity loans and lines of credit and consumer loans. Delinquency statistics are updated at least monthly.

The following tables present an aging analysis of the recorded investment for delinquent loans by portfolio and segment (excluding loans accounted for under ASC 310-30):

	Accruing
June 30, 2015	30 to 59 Days Past Due		60 to 89 Days Past Due		90 Days or More Past Due		Non- Accrual		Total
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	—	$	—	$	—	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—		—
1-4 single family residential		—		—		—		—		—
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		—		—		—		—		—
Total real estate loans		—		—		—		—		—
Other loans:
Commercial and industrial		—		—		—		14		14
Consumer		—		—		—		—		—
Total other loans		—		—		—		14		14
Total new loans	$	—	$	—	$	—	$	14	$	14
Acquired loans:
Real estate loans:
Commercial real estate	$	—	$	—	$	—	$	4,865	$	4,865
Owner-occupied commercial real estate		—		—		—		5		5
1-4 single family residential		—		—		—		1,649		1,649
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		153		288		—		2,806		3,247
Total real estate loans		153		288		—		9,325		9,766
Other loans:
Commercial and industrial		—		—		—		736		736
Consumer		—		—		—		—		—
Total other loans		—		—		—		736		736
Total acquired loans	$	153	$	288	$	—	$	10,061	$	10,502

	Accruing
December 31, 2014	30 to 59 Days Past Due		60 to 89 Days Past Due		90 Days or More Past Due		Non- Accrual		Total
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	—	$	—	$	—	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—		—
1-4 single family residential		6,206		727		—		116		7,049
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		—		—		—		—		—
Total real estate loans		6,206		727		—		116		7,049
Other loans:
Commercial and industrial		—		—		—		—		—
Consumer		—		—		—		—		—
Total other loans		—		—		—		—		—
Total new loans	$	6,206	$	727	$	—	$	116	$	7,049
Acquired Loans:
Real estate loans:
Commercial real estate	$	—	$	—	$	—	$	4,866	$	4,866
Owner-occupied commercial real estate		—		—		—		211		211
1-4 single family residential		1,877		86		—		1,766		3,729
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		384		456		—		3,005		3,845
Total real estate loans		2,261		542		—		9,848		12,651
Other loans:
Commercial and industrial		—		192		—		1,222		1,414
Consumer		14		—		—		—		14
Total other loans		14		192		—		1,222		1,428
Total acquired loans	$	2,275	$	734	$	—	$	11,070	$	14,079

Internal risk ratings are considered the most meaningful indicator of credit quality for Non-ASC 310-30 and New commercial, construction, land and development and commercial real estate loans. Internal risk ratings are updated on a continuous basis. Loans exhibiting potential credit weaknesses that deserve management’s close attention and that if left uncorrected may result in deterioration of the repayment capacity of the borrower are categorized as special mention. Loans with well-defined credit weaknesses including payment defaults, declining collateral values, frequent overdrafts, operating losses, increasing balance sheet leverage, inadequate cash flow, project cost overruns, unreasonable construction delays, past due real estate taxes or exhausted interest reserves are assigned an internal risk rating of substandard. A loan with a weakness so severe that collection in full is highly questionable or improbable will be assigned an internal risk rating of doubtful.

The following table summarizes the Company’s Non-ASC 310-30 and New loans by key indicators of credit quality. Loans accounted for under ASC 310-30 are excluded from the following analysis because their related allowance is determined by loan pool performance:

June 30, 2015	Pass		Special Mention		Substandard		Doubtful
	(Dollars in thousands)
New loans:
Commercial real estate	$	942,394	$	—	$	30	$	—
Owner-occupied commercial real estate		400,438		—		—		—
Construction, land and development		349,659		—		—		—
Commercial and industrial		837,256		—		14		—
Total new loans	$	2,529,747	$	—	$	44	$	—
Acquired loans:
Commercial real estate	$	57,126	$	102	$	5,245	$	—
Owner-occupied commercial real estate		19,662		96		102		—
Construction, land and development		8,610		—		—		—
Commercial and industrial		6,886		1,718		1,050		—
Total acquired loans	$	92,284	$	1,916	$	6,397	$	—
December 31, 2014	Pass		Special Mention		Substandard		Doubtful
	(Dollars in thousands)
New loans:
Commercial real estate	$	853,044	$	—	$	30	$	—
Owner-occupied commercial real estate		281,703		—		—		—
Construction, land and development		232,601		—		—		—
Commercial and industrial		795,000		—		—		—
Total new loans	$	2,162,348	$	—	$	30	$	—
Acquired loans:
Commercial real estate	$	65,173	$	107	$	4,866	$	—
Owner-occupied commercial real estate		13,822		421		599		—
Construction, land and development		9,729		—		—		—
Commercial and industrial		9,184		2,147		2,217		—
Total acquired loans	$	97,908	$	2,675	$	7,682	$	—

Internal risk ratings are a key factor in identifying loans to be individually evaluated for impairment and impact management’s estimates of loss factors used in determining the amount of the ALL.

The following table shows the Company’s investment in loans disaggregated based on the method of evaluating impairment:

	Loans - Recorded Investment						Allowance for Credit Loss
June 30, 2015	Individually Evaluated for Impairment		Collectively Evaluated for Impairment		ASC 310- 30 Loans		Individually Evaluated for Impairment		Collectively Evaluated for Impairment		ASC 310- 30 Loans
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	—	$	942,424	$	—	$	—	$	5,692	$	—
Owner-occupied commercial real estate		—		400,438		—		—		1,494		—
1-4 single family residential		—		1,248,625		—		—		5,139		—
Construction, land and development		—		349,659		—		—		2,175		—
Home equity loans and lines of credit		—		22,798		—		—		131		—
Total real estate loans	$	—	$	2,963,944	$	—	$	—	$	14,631	$	—
Other loans
Commercial and industrial	$	—	$	837,270	$	—	$	—	$	4,885	$	—
Consumer		—		6,333		—		—		63		—
Total other loans	$	—	$	843,603	$	—	$	—	$	4,948	$	—
Acquired loans:
Real estate loans:
Commercial real estate	$	4,755	$	57,718	$	286,337	$	1,028	$	347	$	2,585
Owner-occupied commercial real estate		—		19,860		—		—		54		—
1-4 single family residential		—		86,754		76,849		—		335		270
Construction, land and development		—		8,610		55,453		—		56		793
Home equity loans and lines of credit		955		52,016		—		177		255		—
Total real estate loans	$	5,710	$	224,958	$	418,639	$	1,205	$	1,047	$	3,648
Other loans
Commercial and industrial	$	552	$	9,102	$	58,045	$	—	$	41	$	1,133
Consumer		—		645		2,524		—		6		387
Total other loans	$	552	$	9,747	$	60,569	$	—	$	47	$	1,520

	Loans - Recorded Investment						Allowance for Credit Loss
December 31, 2014	Individually Evaluated for Impairment		Collectively Evaluated for Impairment		ASC 310- 30 Loans		Individually Evaluated for Impairment		Collectively Evaluated for Impairment		ASC 310- 30 Loans
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	—	$	853,074	$	—	$	—	$	4,456	$	—
Owner-occupied commercial real estate		—		281,703		—		—		962		—
1-4 single family residential		—		922,657		—		—		4,001		—
Construction, land and development		—		232,601		—		—		1,723		—
Home equity loans and lines of credit		—		11,826		—		—		70		—
Total real estate loans	$	—	$	2,301,861	$	—	$	—	$	11,212	$	—
Other loans
Commercial and industrial	$	—	$	795,000	$	—	$	—	$	4,738	$	—
Consumer		—		6,556		—		—		62		—
Total other loans	$	—	$	801,556	$	—	$	—	$	4,800	$	—
Acquired Loans:
Real estate loans:
Commercial real estate	$	4,754	$	65,392	$	336,935	$	174	$	321	$	3,255
Owner-occupied commercial real estate		—		14,842		—		—		58		—
1-4 single family residential		—		102,279		86,308		—		414		325
Construction, land and development		—		9,729		66,700		—		75		658
Home equity loans and lines of credit		—		54,704		—		—		285		—
Total real estate loans	$	4,754	$	246,946	$	489,943	$	174	$	1,153	$	4,238
Other loans
Commercial and industrial	$	—	$	13,548	$	67,498	$	—	$	49	$	958
Consumer		—		681		2,803		—		6		290
Total other loans	$	—	$	14,229	$	70,301	$	—	$	55	$	1,248

The following tables set forth certain information regarding the Company’s impaired loans (excluding loans accounted for under ASC 310-30) that were evaluated for specific reserves:

	Impaired Loans - With Allowance						Impaired Loans - With no Allowance
June 30, 2015	Recorded Investment		Unpaid Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	—	$	—	$	—	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—		—
1-4 single family residential		—		—		—		—		—
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		—		—		—		—		—
Total real estate loans	$	—	$	—	$	—	$	—	$	—
Other loans
Commercial and industrial	$	—	$	—	$	—	$	—	$	—
Consumer		—		—		—		—		—
Total other loans	$	—	$	—	$	—	$	—	$	—
Acquired loans:
Real estate loans:
Commercial real estate	$	4,755	$	5,051	$	1,028	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—		—
1-4 single family residential		—		—		—		—		—
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		426		494		177		529		548
Total real estate loans	$	5,181	$	5,545	$	1,205	$	529	$	548
Other loans
Commercial and industrial	$	—	$	—	$	—	$	552	$	748
Consumer		—		—		—		—		—
Total other loans	$	—	$	—	$	—	$	552	$	748

	Impaired Loans - With Allowance						Impaired Loans - With no Allowance
December 31, 2014	Recorded Investment		Unpaid Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance
	(Dollars in thousands)
New loans:
Real estate loans:
Commercial real estate	$	—	$	—	$	—	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—		—
1-4 single family residential		—		—		—		—		—
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		—		—		—		—		—
Total real estate loans	$	—	$	—	$	—	$	—	$	—
Other loans
Commercial and industrial	$	—	$	—	$	—	$	—	$	—
Consumer		—		—		—		—		—
Total other loans	$	—	$	—	$	—	$	—	$	—
Acquired loans:
Real estate loans:
Commercial real estate	$	354	$	354	$	174	$	4,400	$	4,595
Owner-occupied commercial real estate		—		—		—		—		—
1-4 single family residential		—		—		—		—		—
Construction, land and development		—		—		—		—		—
Home equity loans and lines of credit		—		—		—		—		—
Total real estate loans	$	354	$	354	$	174	$	4,400	$	4,595
Other loans
Commercial and industrial	$	—	$	—	$	—	$	—	$	—
Consumer		—		—		—		—		—
Total other loans	$	—	$	—	$	—	$	—	$	—

	Three Months Ended June 30,
	2015				2014
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
	(Dollars in thousands)
Impaired loans with no related allowance:
Real estate loans:
Commercial real estate	$	—	$	—	$	4,705	$	—
Owner-occupied commercial real estate		—		—		—		—
1-4 single family residential		—		—		—		—
Construction, land and development		—		—		—		—
Home equity loans and lines of credit		529		—		184		—
Total real estate loans	$	529	$	—	$	4,889	$	—
Other loans:
Commercial and industrial	$	556	$	—	$	—	$	—
Consumer		—		—		—		—
Total other loans	$	556	$	—	$	—	$	—
Impaired loans with an allowance:
Real estate loans:
Commercial real estate	$	4,825	$	—	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—
1-4 single family residential		—		—		—		—
Construction, land and development		—		—		—		—
Home equity loans and lines of credit		438		—		—		—
Total real estate loans	$	5,263	$	—	$	—	$	—
Other loans:
Commercial and industrial	$	—	$	—	$	—	$	—
Consumer		—		—		—		—
Total other loans	$	—	$	—	$	—	$	—

	Six Months Ended June 30,
	2015				2014
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
	(Dollars in thousands)
Impaired loans with no related allowance:
Real estate loans:
Commercial real estate	$	—	$	—	$	4,718	$	—
Owner-occupied commercial real estate		—		—		—		—
1-4 single family residential		—		—		—		—
Construction, land and development		—		—		—		—
Home equity loans and lines of credit		529		—		184		—
Total real estate loans	$	529	$	—	$	4,902	$	—
Other loans:
Commercial and industrial	$	540	$	—	$	—	$	—
Consumer		—		—		—		—
Total other loans	$	540	$	—	$	—	$	—
Impaired loans with an allowance:
Real estate loans:
Commercial real estate	$	4,899	$	—	$	—	$	—
Owner-occupied commercial real estate		—		—		—		—
1-4 single family residential		—		—		—		—
Construction, land and development		—		—		—		—
Home equity loans and lines of credit		442		—		—		—
Total real estate loans	$	5,341	$	—	$	—	$	—
Other loans:
Commercial and industrial	$	—	$	—	$	—	$	—
Consumer		—		—		—		—
Total other loans	$	—	$	—	$	—	$	—

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Loans, Net

6 Months Ended

Jun. 30, 2015

Receivables [Abstract]

Loans, Net

NOTE 3. LOANS, NET

The Company’s loan portfolio consists of new and acquired loans. The Company classifies originated loans and purchased loans not acquired through business combinations as New loans. The Company classifies loans acquired through business combinations as acquired loans. The acquired loan portfolio is segmented into “Covered Loans”, loans subject to loss sharing with the FDIC, and “Non-Covered Loans”, acquired loans without loss share reimbursement. Additionally, the New loan portfolio is classified as “Non-Covered Loans”. A portion of the acquired loan portfolio, both Covered and Non-Covered Loans, exhibited evidence of deterioration in credit quality since origination, and are accounted for under ASC 310-30. The remaining portfolio of acquired loans consists of loans that were not considered ASC 310-30 loans at acquisition and are classified as Non-ASC 310-30 loans.

On March 4, 2015, the Bank entered into an agreement with the FDIC to terminate all loss sharing agreements which were entered into in 2010 and 2011 in conjunction with the Bank’s acquisition of substantially all of the assets (“covered assets”) and assumption of substantially all of the liabilities of six failed banks in FDIC-assisted acquisitions. Under the early termination, all rights and obligations of the Bank and the FDIC under the loss share agreements, including the clawback provisions, have been eliminated.

The following tables summarize the Company’s loans by portfolio segment as of the periods presented, net of deferred fees, costs, and premium and discount:

	Covered Loans				Non-Covered Loans
June 30, 2015	ASC 310-30 Loans		Non-ASC 310-30 Loans		ASC 310-30 Loans		Non-ASC 310-30 Loans		New Loans (1)		Total
	(Dollars in thousands)
Real estate loans:
Commercial real estate	$	—	$	—	$	286,337	$	62,473	$	942,424	$	1,291,234
Owner-occupied commercial real estate		—		—		—		19,860		400,438		420,298
1-4 single family residential		—		—		76,849		86,754		1,248,625		1,412,228
Construction, land and development		—		—		55,453		8,610		349,659		413,722
Home equity loans and lines of credit		—		—		—		52,971		22,798		75,769
Total real estate loans	$	—	$	—	$	418,639	$	230,668	$	2,963,944	$	3,613,251
Other loans:
Commercial and industrial	$	—	$	—	$	58,045	$	9,654	$	837,270	$	904,969
Consumer		—		—		2,524		645		6,333		9,502
Total other loans		—		—		60,569		10,299		843,603		914,471
Total loans held in portfolio	$	—	$	—	$	479,208	$	240,967	$	3,807,547	$	4,527,722
Allowance for loan losses												(27,046	)
Loans held in portfolio, net											$	4,500,676
	Covered Loans				Non-Covered Loans
December 31, 2014	ASC 310-30 Loans		Non-ASC 310-30 Loans		ASC 310-30 Loans		Non-ASC 310-30 Loans		New Loans (1)		Total
	(Dollars in thousands)
Real estate loans:
Commercial real estate	$	155,050	$	6,202	$	181,885	$	63,944	$	853,074	$	1,260,155
Owner-occupied commercial real estate		—		2,411		—		12,431		281,703		296,545
1-4 single family residential		34,297		7,286		52,011		94,993		922,657		1,111,244
Construction, land and development		19,903		—		46,797		9,729		232,601		309,030
Home equity loans and lines of credit		—		10,785		—		43,919		11,826		66,530
Total real estate loans	$	209,250	$	26,684	$	280,693	$	225,016	$	2,301,861	$	3,043,504
Other loans:
Commercial and industrial	$	32,531	$	4,308	$	34,967	$	9,240	$	795,000	$	876,046
Consumer		557		36		2,246		645		6,556		10,040
Total other loans		33,088		4,344		37,213		9,885		801,556		886,086
Total loans held in portfolio	$	242,338	$	31,028	$	317,906	$	234,901	$	3,103,417	$	3,929,590
Allowance for loan losses												(22,880	)
Loans held in portfolio, net											$	3,906,710

(1) Balance includes $(5.6) million and $3.6 million of deferred fees, costs, and premium and discount as of June 30, 2015 and December 31, 2014, respectively.

At June 30, 2015 and December 31, 2014, the unpaid principal balances (“UPB”) of ASC 310-30 loans were $620.0 million and $725.9 million, respectively. At June 30, 2015 and December 31, 2014, the Company had pledged loans as collateral for FHLB advances of $1.83 billion and $1.63 billion, respectively. The recorded investments of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process as of June 30, 2015 totaled $10.3 million. The Company held $438.5 million and $445.6 million of syndicated national loans as of June 30, 2015 and December 31, 2014, respectively.

During the three and six months ended June 30, 2015, the Company purchased approximately $144.0 million and $233.6 million, respectively, in residential mortgage loans from third parties. During the three and six months ended June 30, 2014, the Company purchased approximately $71.2 million in residential mortgage loans from third parties.

During the three and six months ended June 30, 2015, the Company sold approximately $11.6 million and $19.5 million, respectively, in loans to third parties. During the three and six months ended June 30, 2014, the Company sold approximately $26.2 million and $28.9 million, respectively, in loans to third parties.

The accretable discount on ASC 310-30 loan pools represents the amount by which the undiscounted expected cash flows on such pools exceed its carrying value. The increase in expected cash flows for certain ASC 310-30 loan pools resulted in the reclassification of $9.8 million and $13.0 million in non-accretable difference to accretable discount during the six months ended June 30, 2015 and 2014, respectively.

Changes in accretable discount for ASC 310-30 loans for the six months ended June 30, 2015 and 2014 were as follows:

	Six Months Ended June 30,
	2015			2014
	(Dollars in thousands)
Balance at January 1,	$	156,197		$	148,501
Additions to accretable discount from GFB acquisition		—			40,444
Accretion		(23,667	)		(31,231	)
Reclassifications from non-accretable difference		9,760			13,030
Balance at June 30,	$	142,290		$	170,744

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Investment Securities (Tables)

6 Months Ended

Jun. 30, 2015

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Cost, Gross Unrealized Gains and Losses and Approximate Fair Values of Securities Available for Sale

The amortized cost, gross unrealized gains and losses and approximate fair values of securities available for sale are as follows:

	Amortized Cost		Unrealized				Fair Value
June 30, 2015			Gains		Losses
	(Dollars in thousands)
Available for sale:
U.S. Government agencies and sponsored enterprises obligations	$	5,306	$	98	$	—	$	5,404
U.S. Government agencies and sponsored enterprises mortgage-backed securities		375,061		3,743		522		378,282
State and municipal obligations		2,040		190		—		2,230
Asset-backed securities		456,912		2,438		1,612		457,738
Corporate bonds and other debt securities		419,553		2,786		5,078		417,261
Preferred stock and other equity securities		171,150		343		2,259		169,234
Total available for sale	$	1,430,022	$	9,598	$	9,471	$	1,430,149

	Amortized Cost		Unrealized				Fair Value
December 31, 2014			Gains		Losses
	(Dollars in thousands)
Available for sale:
U.S. Government agencies and sponsored enterprises obligations	$	6,078	$	18	$	—	$	6,096
U.S. Government agencies and sponsored enterprises mortgage-backed securities		497,384		5,172		904		501,652
State and municipal obligations		2,039		238		—		2,277
Asset-backed securities		482,969		1,424		6,192		478,201
Corporate bonds and other debt securities		256,155		3,024		496		258,683
Preferred stock and other equity securities		113,367		261		1,439		112,189
Total available for sale	$	1,357,992	$	10,137	$	9,031	$	1,359,098

Schedule of Amortized Cost and Estimated Fair Value of Securities Available for Sale

The amortized cost and estimated fair value of securities available for sale, by contractual maturity, are as follows:

June 30, 2015	Amortized Cost		Fair Value
	(Dollars in thousands)
Available for sale:
Due in one year or less	$	—	$	—
Due after one year through five years		81,627		81,677
Due after five years through ten years		73,077		72,375
Due after ten years		266,889		265,439
U.S. Government agencies and sponsored enterprises obligations, mortgage-backed securities and asset-backed securities		837,279		841,424
Preferred stock and other equity securities		171,150		169,234
Total available for sale	$	1,430,022	$	1,430,149

Summary of Estimated Fair Values and Gross Unrealized Losses on Investment Securities Available for Sale

The following tables present the estimated fair values and gross unrealized losses on investment securities available for sale, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position as of the periods presented:

	Less than 12 Months				12 Months or More				Total
June 30, 2015	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
	(Dollars in thousands)
Available for sale:
U.S. Government agencies and sponsored enterprises obligations	$	—	$	—	$	—	$	—	$	—	$	—
U.S. Government agencies and sponsored enterprises mortgage-backed securities		37,102		292		14,510		230		51,612		522
State and municipal obligations		—		—		—		—		—		—
Asset-backed securities		106,790		396		87,596		1,216		194,386		1,612
Corporate bonds and other debt securities		269,281		5,078		—		—		269,281		5,078
Preferred stock and other equity securities		126,072		2,044		9,788		215		135,860		2,259
Total available for sale	$	539,245	$	7,810	$	111,894	$	1,661	$	651,139	$	9,471

	Less than 12 Months				12 Months or More				Total
December 31, 2014	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
	(Dollars in thousands)
Available for sale:
U.S. Government agencies and sponsored enterprises obligations	$	—	$	—	$	—	$	—	$	—	$	—
U.S. Government agencies and sponsored enterprises mortgage-backed securities		71,539		330		43,090		574		114,629		904
State and municipal obligations		—		—		—		—		—		—
Asset-backed securities		337,123		5,143		31,898		1,049		369,021		6,192
Corporate bonds and other debt securities		78,487		496		—		—		78,487		496
Preferred stock and other equity securities		53,064		737		10,606		702		63,670		1,439
Total available for sale	$	540,213	$	6,706	$	85,594	$	2,325	$	625,807	$	9,031

Summary of Gross Realized Gains and Losses on Sale of Securities Available for Sale

Gross realized gains and losses on the sale of securities available for sale are shown below. The cost of securities sold is based on the specific identification method.

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(Dollars in thousands)
Gross realized gains	$	849		$	5,203		$	1,961		$	7,897
Gross realized losses		(844	)		(824	)		(913	)		(1,012	)
Net realized gains (losses)	$	5		$	4,379		$	1,048		$	6,885

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Stock-Based Compensation and Other Benefit Plans

6 Months Ended

Jun. 30, 2015

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

Stock-Based Compensation and Other Benefit Plans

NOTE 11. STOCK-BASED COMPENSATION AND OTHER BENEFIT PLANS

2009 Option Plan

On February 5, 2014, the Company granted 90,000 stock options from the 2009 Option Plan to directors that vest at a rate of 25% per calendar quarter in 2014. The options have an exercise price of $19.75, the estimated fair value of the Company’s stock on the date of grant and an aggregate fair value of $479 thousand. The options granted to directors expire 10 years from grant date.

On April 29, 2014, the Company granted 150,000 stock options with a three year vesting period from the 2009 Option Plan to employees with a weighted average exercise price of $19.75, the estimated fair value of the Company’s stock on the date of grant, and an aggregate fair value of $890 thousand. The options granted to employees expire 10 years from grant date.

Option grant activities for the periods indicated are summarized as follows:

	2009 Option Plan
	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(Dollars in thousands)
Outstanding at beginning of period		4,102,667			3,539,334			4,135,250			3,688,500
Granted		—			150,000			—			240,000
Exercised		(10,168	)		—			(36,835	)		—
Forfeited		(17,415	)		—			(23,331	)		(14,166	)
Expired		(501	)		(3,334	)		(501	)		(228,334	)
Outstanding at end of period		4,074,583			3,686,000			4,074,583			3,686,000

At June 30, 2015, there were no shares available for award from the 2009 Option Plan and total vested and exercisable shares of 3,323,868 were outstanding.

The total unrecognized compensation cost of $3.7 million related to the 2009 Option Plan for share awards outstanding at June 30, 2015 will be recognized over a weighted average remaining period of 2.16 years.

2013 Stock Incentive Plan

For the three months ended June 30, 2015, no awards were granted by the Company from the 2013 Plan. During the six months ended June 30, 2015, the Company granted 129,000 stock options from the 2013 Plan to directors that vest at a rate of 25% per calendar quarter in 2015 and 110,500 stock options to employees that vest at a rate of 33 ¹⁄₃% on the first, second and third year anniversaries of the grant date (“Three Year Vesting Period”). The options have a weighted average exercise price of $25.47, based on the fair value of the Company’s stock on the date of grant and an aggregate fair value of $1.8 million. The options granted to directors and employees expire 10 years from grant date.

For the three or six months ended June 30, 2014, no awards were granted by the Company from the 2013 Stock Incentive Plan (“2013 Plan”).

Option grant activities for the periods indicated are summarized as follows:

	2013 Option Plan
	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(Dollars in thousands)
Outstanding at beginning of period		2,403,334			2,173,000			2,170,500			2,173,000
Granted		—			—			239,500			—
Exercised		—			—			(6,666	)		—
Forfeited		(13,334	)		(2,500	)		(13,334	)		(2,500	)
Expired		—			—			—			—
Outstanding at end of period		2,390,000			2,170,500			2,390,000			2,170,500

At June 30, 2015, based on the number of stock options outstanding, there were 103,334 shares available for award from the 2013 Plan and total vested and exercisable shares of 749,062.

The total unrecognized compensation cost of $2.6 million related to the 2013 Equity Incentive Plan for share awards outstanding at June 30, 2015 will be recognized over a weighted average remaining period of 1.70 years.

Executive Incentive Awards

During the six months ended June 30, 2015, the Compensation Committee of the Board of Directors of the Company approved executive incentive awards. The Executive Incentive Plan grants cash phantom units (“CPUs”), the value of which is determined by the Company’s common share price at the end of the award period. The Company recognized compensation expense based on the estimated value of the award at grant date.

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Deposits

6 Months Ended

Jun. 30, 2015

Banking and Thrift [Abstract]

Deposits

NOTE 7. DEPOSITS

The following table sets forth the Company’s deposits by category:

	June 30, 2015		December 31, 2014
	(Dollars in thousands)
Noninterest-bearing demand deposits	$	621,845	$	593,025
Interest-bearing demand deposits		288,990		122,380
Interest-bearing NOW accounts		414,795		374,399
Savings and money market accounts		1,882,706		1,811,878
Time deposits		1,257,751		1,076,853
Total deposits	$	4,466,087	$	3,978,535
Time deposits $100,000 and greater	$	833,827	$	689,439
Time deposits greater than $250,000		289,424		226,895

The aggregate amount of overdraft demand deposits reclassified to loans was $836 thousand at June 30, 2015. The aggregate amount of maturities for time deposits for each of the five years as of June 30, 2015 totaled $799.2 million, $265.3 million, $152.9 million, $34.6 million and $5.6 million, respectively. The Company holds brokered deposits through an insured deposit sweep program of $384.5 million and $338.2 million at June 30, 2015 and December 31, 2014, respectively.

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Basic and Diluted Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Net income (loss) available to common stockholders	$ 19,376	$ 9,166	$ 2,502	$ 12,694
Weighted average number of common shares-basic	41,428,588	35,892,154	41,425,240	35,892,154
Effect of dilutive securities:
Employee stock-based compensation awards	1,677,543	4,053	1,327,574	4,103
Weighted average number of common shares-diluted	43,106,131	35,896,207	42,752,814	35,896,257
Basic earnings (loss) per share	$ 0.47	$ 0.26	$ 0.06	$ 0.35
Diluted earnings (loss) per share	$ 0.45	$ 0.26	$ 0.06	$ 0.35
Anti-dilutive warrants, stock options and RSUs	560,704	9,424,582	1,715,989	9,386,102

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Covered Assets and Loss Sharing Agreements

6 Months Ended

Jun. 30, 2015

Text Block [Abstract]

Covered Assets and Loss Sharing Agreements

NOTE 5. COVERED ASSETS AND LOSS SHARING AGREEMENTS

On March 4, 2015, the Bank entered into an agreement with the FDIC to terminate all loss sharing agreements which were entered into in 2010 and 2011 in conjunction with the Bank’s acquisition of substantially all of the assets (“covered assets”) and assumption of substantially all of the liabilities of six failed banks in FDIC-assisted acquisitions. Under the early termination, all rights and obligations of the Bank and the FDIC under the loss share agreements, including the clawback provisions, have been eliminated.

The Bank paid the FDIC $14.8 million as consideration for the early termination to settle its obligation under the FDIC Clawback Liability. The early termination was recorded in the Bank’s financial statements by removing the FDIC Indemnification Asset receivable, the FDIC Clawback liability and recording a one-time, pre-tax loss on termination of $65.5 million.

The following table summarizes the carrying value of assets covered by the loss sharing agreements:

	June 30, 2015		December 31, 2014
	(Dollars in thousands)
Loans, excluding allowance for loan losses	$	—	$	273,366
OREO		—		25,130
Total Covered Assets	$	—	$	298,496

Subsequent to acquisition, when a provision for loan loss is required for a loan that is covered under a loss sharing agreement, the Company records an increase in the loss share indemnification asset and an increase to noninterest income in the consolidated statements of income based on the applicable loss sharing ratio. Increases in the loss share indemnification asset of $1.2 million were included in noninterest income for the six months ended June 30, 2014, related to the provision for loan losses on Covered Loans, including both ASC 310-30 and Non-ASC 310-30 loans.

Changes in the loss share indemnification asset for the periods presented were as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2015		2014			2015			2014
	(Dollars in thousands)
Balance at beginning of period	$	—	$	80,605		$	63,168		$	87,229
Termination of FDIC loss sharing agreements		—		—			(63,168	)		—
Reimbursable expenses		—		1,427			—			3,153
Amortization		—		(5,406	)		—			(11,405	)
Income resulting from impairment and charge-off of covered assets, net		—		456			—			1,206
Expense resulting from recoupment and disposition of covered assets, net		—		(1,260	)		—			(2,423	)
FDIC claims submissions		—		(969	)		—			(2,907	)
Balance at end of period	$	—	$	74,853		$	—		$	74,853

The following table summarizes the changes in the clawback liability, included in Other Liabilities, for the periods presented:

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015			2014
	(Dollars in thousands)
Balance at beginning of period	$	—	$	12,060	$	13,846		$	11,753
Termination of FDIC loss sharing agreements		—		—		(13,846	)		—
Amortization impact		—		181		—			357
Remeasurement impact		—		284		—			415
Balance at end of period	$	—	$	12,525	$	—		$	12,525

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Derivatives

6 Months Ended

Jun. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

NOTE 6. DERIVATIVES

The Company is a party to interest rate derivatives that are not designated as hedging instruments. These derivatives are interest rate swaps that the Company enters into with customers to allow customers to convert variable rate loans to fixed rates. At the same time the interest rate swap is entered into with the customer, an offsetting interest rate swap is entered into with another financial institution. The changes in the fair value of the swaps offset each other, except for any differences in the credit risk of the counterparties, which is determined by considering the risk rating, probability of default and loss of given default of each counterparty. The Company recorded $1.1 million and $1.8 million of customer swap fees in noninterest income in the accompanying consolidated statements of income for the three months ended June 30, 2015 and 2014, respectively and $2.8 million and $2.2 million for the six months ended June 30, 2015 and 2014, respectively.

No derivative positions held by the Company as of June 30, 2015 were designated as hedging instruments under ASC 815-10. As of June 30, 2015, the Company has not recorded any credit adjustments related to the credit risk of the counterparties. There was no change in the fair value of derivative assets and derivative liabilities attributable to credit risk included in “Noninterest Expense” on the statements of income for the three or six months ended June 30, 2015 or 2014.

The following tables summarize the Company’s derivatives outstanding included in Other Assets and Other Liabilities in the accompanying consolidated balance sheets:

June 30, 2015	Derivative Assets				Derivative Liabilities
	Notional		Fair Value		Notional		Fair Value
	(Dollars in thousands)
Derivatives not designated as hedging instruments under ASC 815-10
Interest rate contracts - pay floating, receive fixed	$	562,618	$	15,387	$	27,338	$	125
Interest rate contracts - pay fixed, receive floating		—		—		589,956		15,262
Total derivatives	$	562,618	$	15,387	$	617,294	$	15,387

December 31, 2014	Derivative Assets				Derivative Liabilities
	Notional		Fair Value		Notional		Fair Value
	(Dollars in thousands)
Derivatives not designated as hedging instruments under ASC 815-10
Interest rate contracts - pay floating, receive fixed	$	464,890	$	14,328	$	8,298	$	39
Interest rate contracts - pay fixed, receive floating		—		—		473,188		14,289
Total derivatives	$	464,890	$	14,328	$	481,486	$	14,328

The derivative transactions entered into with a financial institution are subject to an enforceable master netting arrangement. The following table summarizes the gross and net fair values of the Company’s derivatives outstanding with this counterparty included in Other Liabilities in the accompanying consolidated balance sheets:

June 30, 2015	Gross amounts of recognized liabilities		Gross amounts offset in the consolidated balance sheets			Net amounts in the consolidated balance sheets
	(Dollars in thousands)
Offsetting derivative liabilities
Counterparty A - Interest rate contracts	$	15,387	$	(125	)	$	15,262
Total	$	15,387	$	(125	)	$	15,262

December 31, 2014	Gross amounts of recognized liabilities		Gross amounts offset in the consolidated balance sheets			Net amounts in the consolidated balance sheets
	(Dollars in thousands)
Offsetting derivative liabilities
Counterparty A - Interest rate contracts	$	14,328	$	(39	)	$	14,289
Total	$	14,328	$	(39	)	$	14,289

At June 30, 2015, the Company has pledged investment securities available for sale with a carrying amount of $23.4 million as collateral for the interest rate swaps in a liability position. The amount of collateral required to be posted by the Company varies based on the settlement value of outstanding swaps.

As of June 30, 2015 and December 31, 2014, substantially all of the floating rate terms within the interest rate swaps held by the Company were indexed to 1-month LIBOR.

The fair value of the derivative assets and liabilities are included in a table in Note 13 “Fair Value Measurements,” in the line items “Derivative assets” and “Derivative liabilities.”

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Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2015

Equity [Abstract]

Accumulated Other Comprehensive Income

NOTE 8. ACCUMULATED OTHER COMPREHENSIVE INCOME

Changes in AOCI for the periods indicated are summarized as follows:

	Three Months Ended June 30,
	2015									2014
	Before Tax			Tax Effect			Net of Tax			Before Tax			Tax Effect			Net of Tax
	(Dollars in thousands)
Balance at beginning of period	$	17,178		$	(6,626	)	$	10,552		$	3,606		$	(1,390	)	$	2,216
Unrealized gain (loss) on investment securities available for sale:
Net unrealized holdings gain (loss) arising during the period		(15,868	)		6,121			(9,747	)		12,685			(4,894	)		7,791
Amounts reclassified to (gain) loss on investment securities		(1,183	)		456			(727	)		(2,978	)		1,148			(1,830	)
Balance at end of period	$	127		$	(49	)	$	78		$	13,313		$	(5,136	)	$	8,177

	Six Months Ended June 30,
	2015									2014
	Before Tax			Tax Effect			Net of Tax			Before Tax			Tax Effect			Net of Tax
	(Dollars in thousands)
Balance at beginning of period	$	1,106		$	(427	)	$	679		$	(2,565	)	$	990		$	(1,575	)
Unrealized gain (loss) on investment securities available for sale:
Net unrealized holdings gain (loss) arising during the period		1,300			(501	)		799			19,715			(7,606	)		12,109
Amounts reclassified to (gain) loss on investment securities		(2,279	)		879			(1,400	)		(3,837	)		1,480			(2,357	)
Balance at end of period	$	127		$	(49	)	$	78		$	13,313		$	(5,136	)	$	8,177

XML

Stock-Based Compensation and Other Benefit Plans - Schedule of Option Activity - 2013 Stock Incentive Plan (Detail) - 2013 Stock Incentive Plan [Member] - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding, beginning balance	2,403,334	2,173,000	2,170,500	2,173,000
Granted, options		0	239,500	0
Exercised, options			(6,666)
Forfeited, options	(13,334)	(2,500)	(13,334)	(2,500)
Expired, options	0	0	0	0
Options outstanding, ending balance	2,390,000	2,170,500	2,390,000	2,170,500

XML

Commitments and Contingencies - Summary of Unfunded Commitments (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Line of Credit Facility [Line Items]
Unfunded credit extension commitments	$ 694,686	$ 561,472
Commitments to Fund Loans [Member]
Line of Credit Facility [Line Items]
Unfunded credit extension commitments	428,736	351,369
Unused Lines of Credit [Member]
Line of Credit Facility [Line Items]
Unfunded credit extension commitments	251,792	199,880
Commercial and Standby Letters of Credit [Member]
Line of Credit Facility [Line Items]
Unfunded credit extension commitments	$ 14,158	$ 10,223

XML

Stock-Based Compensation and Other Benefit Plans - Schedule of Option Activity - 2009 Option Plan (Detail) - 2009 Option Plan [Member] - shares		3 Months Ended		6 Months Ended
	Apr. 29, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding, beginning balance		4,102,667	3,539,334	4,135,250	3,688,500
Granted, options	150,000		150,000		240,000
Exercised, options		(10,168)		(36,835)
Forfeited, options		(17,415)		(23,331)	(14,166)
Expired, options		(501)	(3,334)	(501)	(228,334)
Options outstanding, ending balance		4,074,583	3,686,000	4,074,583	3,686,000

XML

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2015 Subsidiary BankingCenters	Dec. 31, 2014 USD ($)
Schedule Of Significant Accounting Policies [Line Items]
Number of Banking centers | BankingCenters	48
Number of wholly owned subsidiary | Subsidiary	1
Reclassification from Investing to Operating Activities [Member] | Accretion Income on Acquired Loans [Member]
Schedule Of Significant Accounting Policies [Line Items]
Prior Period Reclassification Adjustment		$ 14.7
Reclassification from Investing to Operating Activities [Member] | Fdic Loss Share Indemnification Asset [Member]
Schedule Of Significant Accounting Policies [Line Items]
Prior Period Reclassification Adjustment		5.6
Reclassification from Operating to Investing Activities [Member] | Sale Of Investment Securities Available For Sale [Member]
Schedule Of Significant Accounting Policies [Line Items]
Prior Period Reclassification Adjustment		$ 41.6

XML

Covered Assets and Loss Sharing Agreements - Summary of Carrying Value of Assets Covered by Loss Sharing Agreements (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Banking and Thrift [Abstract]
Loans, excluding allowance for loan losses	$ 0	$ 273,366
OREO	$ 0	25,130
Total Covered Assets		$ 298,496

XML

Fair Value Measurements

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

NOTE 13. FAIR VALUE MEASUREMENTS

When determining the fair value measurements for assets and liabilities and the related fair value hierarchy, the Company considers the principal or most advantageous market in which it would transact and the assumptions that market participants would use when pricing the asset or liability (observable inputs). When possible, the Company looks to active and observable markets to price identical assets or liabilities. When identical assets and liabilities are not traded in active markets, the Company looks to market observable data for similar assets and liabilities. It is the Company’s policy to maximize the use of observable inputs, minimize the use of unobservable inputs, and use unobservable inputs to measure fair value to the extent that observable inputs are not available. The need to use unobservable inputs generally results from the lack of market liquidity, resulting in diminished observability of both actual trades and assumptions that would otherwise be available to value these instruments, or the value of the underlying collateral is not market observable. Although third party price indications may be available for an asset or liability, limited trading activity would make it difficult to support the observability of these quotations.

Financial Instruments Carried at Fair Value on a Recurring Basis

The following is a description of the valuation methodologies used for financial instruments measured at fair value on a recurring basis, as well as the general classification of each instrument under the valuation hierarchy.

Investment Securities—Investment securities available for sale are carried at fair value on a recurring basis. When available, fair value is based on quoted prices for the identical security in an active market and as such, would be classified as Level 1. If quoted market prices are not available, fair values are estimated using quoted prices of securities with similar characteristics, discounted cash flows or matrix pricing models. Investment securities available for sale for which Level 1 valuations are not available are classified as Level 2, and include U.S. Government agencies and sponsored enterprises debt obligations and agency mortgage-backed securities; state and municipal obligations; asset-backed securities; and corporate debt and other securities. Pricing of these securities is generally spread driven.

Observable inputs that may impact the valuation of these securities include benchmark yield curves, credit spreads, reported trades, dealer quotes, bids, issuer spreads, current rating, historical constant prepayment rates, historical voluntary prepayment rates, structural and waterfall features of individual securities, published collateral data, and for certain securities, historical constant default rates and default severities.

Interest Rate Derivatives—Interest rate derivatives are reported at estimated fair value utilizing Level 2 inputs and are included in other assets and other liabilities and consist of interest rate swaps where there is no significant deterioration in the counterparties (loan customers) credit risk since origination of the interest rate swap. The Company values its interest rate swap positions using market prices provided by a third party which uses primarily observable market inputs. Interest rate derivatives are further described in Note 6 “Derivatives.”

For purposes of potential valuation adjustments to our derivative positions, the Company evaluates the credit risk of its counterparties as well as our own credit risk. Accordingly, the Company has considered factors such as the likelihood of default, expected loss given default, net exposures and remaining contractual life, among other things, in determining if any estimated fair value adjustments related to credit risk are required. The Company reviews counterparty exposure quarterly, and when necessary, appropriate adjustments are made to reflect the exposure.

For the six months ended June 30, 2015 and 2014, the Company has not realized any losses due to the counterparty’s inability to pay any net uncollateralized position. As of June 30, 2015, there were no interest rate derivatives classified as Level 3.

Contingent consideration issued to the FDIC—In conjunction with the 2010 and 2011 acquisitions, the Bank issued contingent consideration to the FDIC in the form of EAAs. The estimated fair value of the EAAs are derived from an estimation of the future fair value of the Company’s stock and a range of potential payment liabilities is determined in accordance with the terms of each agreement. Management assigns a probability to each potential payment liability based on its judgment about the likelihood of the event occurring. This expected value is the basis for estimating the fair value of the contingent consideration. As of June 30, 2015, the Company had no remaining EAAs, as the EAAs reached final settlement with the FDIC on September 29, 2014.

Clawback liability—The fair value of the FDIC clawback liability is estimated using a discounted cash flow technique based on projected cash flows related to the resolution of Covered Assets and a discount rate using a risk free rate, plus a premium that takes into account the Company’s credit risk, resulting in Level 3 classification.

On March 4, 2015, the Bank entered into an agreement with the FDIC to terminate all loss sharing agreements which were entered into in 2010 and 2011 in conjunction with the Bank’s acquisition of substantially all of the assets (“covered assets”) and assumption of substantially all of the liabilities of six failed banks in FDIC-assisted acquisitions. Under the early termination, all rights and obligations of the Bank and the FDIC under the loss share agreements, including the clawback liability, have been eliminated.

The following table presents the assets and liabilities measured at fair value on a recurring basis:

	June 30, 2015
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
U.S. Government agencies and sponsored enterprises obligations	$	—	$	5,404	$	—	$	5,404
U.S. Government agencies and sponsored enterprises mortgage-backed securities		—		378,282		—		378,282
State and municipal obligations		—		2,230		—		2,230
Asset-backed securities		—		457,738		—		457,738
Corporate bonds and other debt securities		—		417,261		—		417,261
Preferred stocks and other equity securities		2,034		167,200		—		169,234
Derivative assets - Interest rate contracts		—		15,387		—		15,387
Total	$	2,034	$	1,443,502	$	—	$	1,445,536
Liabilities:
Derivative liabilities - Interest rate contracts	$	—	$	15,387	$	—	$	15,387
Clawback liability		—		—		—		—
Total	$	—	$	15,387	$	—	$	15,387

	December 31, 2014
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
U.S. Government agencies and sponsored enterprises obligations	$	—	$	6,096	$	—	$	6,096
U.S. Government agencies and sponsored enterprises mortgage-backed securities		—		501,652		—		501,652
State and municipal obligations		—		2,277		—		2,277
Asset-backed securities		—		478,201		—		478,201
Corporate bonds and other debt securities		—		258,683		—		258,683
Preferred stocks and other equity securities		23,594		88,595		—		112,189
Derivative assets - Interest rate contracts		—		14,328		—		14,328
Total	$	23,594	$	1,349,832	$	—	$	1,373,426
Liabilities:
Derivative liabilities - Interest rate contracts	$	—	$	14,328	$	—	$	14,328
Clawback liability		—		—		13,846		13,846
Total	$	—	$	14,328	$	13,846	$	28,174

There were no transfers of financial assets between levels of the fair value hierarchy during the six months ended June 30, 2015 or 2014.

The following tables reconcile changes in the fair value of liabilities measured at fair value on a recurring basis and classified in level 3 of the fair value hierarchy for the periods presented:

	Three Months Ended June 30,
	2015					2014
	Clawback Liability			EAAs		Clawback Liability		EAAs
	(Dollars in thousands)
Balance at beginnning of period	$	—		$	—	$	12,060	$	1,362
Losses (gains) included in other noninterest expenses		—			—		465		452
Termination of FDIC loss sharing agreements		—			—		—		—
Balance at end of period	$	—		$	—	$	12,525	$	1,814
	Six Months Ended June 30,
	2015					2014
	Clawback Liability			EAAs		Clawback Liability		EAAs
	(Dollars in thousands)
Balance at beginnning of period	$	13,846		$	—	$	11,753	$	1,114
Losses (gains) included in other noninterest expenses		—			—		772		700
Termination of FDIC loss sharing agreements		(13,846	)		—		—		—
Balance at end of period	$	—		$	—	$	12,525	$	1,814

The inputs used to determine the estimated fair value of loans include market conditions, loan term, underlying collateral characteristics and discount rates. The inputs used to determine the fair value of OREO include market conditions, estimated marketing period or holding period, underlying collateral characteristics and discount rates.

For the six months ended June 30, 2015 and 2014, there was not a change in the methods or significant assumptions used to estimate fair value.

The following table shows significant unobservable inputs used in the non-recurring fair value measurement of level 3 assets and liabilities:

Level 3 Asset	Fair value		Valuation Technique	Unobservable Inputs	Range
	(Dollars in thousands)
Non-recurring:
Loans	$	4,540,556	Third party appraisals and discounted cash flows	Collateral discounts and discount rates		0% - 100	%
Other real estate owned		42,654	Third party appraisals	Collateral discounts and estimated cost to sell		10	%

Financial Instruments Measured at Fair Value on a Non-Recurring Basis

The following is a description of the methodologies used to estimate the fair values of assets and liabilities measured at fair value on a non-recurring basis, and the level within the fair value hierarchy in which those measurements are typically classified.

Impaired loans and OREO—The carrying amount of collateral dependent impaired loans is typically based on the fair value of the underlying collateral, which may be real estate or other business assets, less estimated costs to sell. The carrying value of OREO is initially measured based on the fair value, less estimated cost to sell, of the real estate acquired in foreclosure and subsequently adjusted to the lower of cost or estimated fair value, less estimated cost to sell. Fair values of real estate collateral are typically based on real estate appraisals which utilize market and income valuation techniques incorporating both observable and unobservable inputs. When current appraisals are not available, the Company may use brokers’ price opinions, home price indices, or other available information about changes in real estate market conditions to adjust the latest appraised value available. These adjustments to appraised values may be subjective and involve significant management judgment. The fair value of collateral consisting of other business assets is generally based on appraisals that use market approaches to valuation, incorporating primarily unobservable inputs. Fair value measurements related to collateral dependent impaired loans and OREO are classified within level 3 of the fair value hierarchy.

The following tables provide information about certain assets measured at fair value on a non-recurring basis:

	June 30, 2015		December 31, 2014
	(Dollars in thousands)
Assets that are still held (classified in Level 3):
Impaired loans	$	6,262	$	4,754
Foreclosed real estate		42,654		74,527

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
	(Dollars in thousands)
Negative valuation adjustments:
Impaired loans	$	1,049	$	—	$	1,049	$	—
Foreclosed real estate		69		287		174		732

Impairment charges resulting from the non-recurring changes in fair value of the underlying collateral of impaired loans are included in the provision for loan losses in the consolidated statement of income. Impairment charges resulting from the non-recurring changes in fair value of OREO are included in other real estate and acquired assets resolution expenses in the consolidated statement of income.

The carrying amounts and estimated fair values, as well as the level within the fair value hierarchy, of the Company’s financial instruments are as follows:

June 30, 2015	Carrying Value		Fair Value		Level 1		Level 2		Level 3
	(Dollars in thousands)
Financial Assets:
Cash and cash equivalents	$	141,286	$	141,286	$	141,286	$	—	$	—
Available for sale securities		1,430,149		1,430,149		2,034		1,428,115		—
FHLB and other bank stock		70,505		70,505		—		70,505		—
Loans, net		4,500,676		4,540,556		—		—		4,540,556
Loans held for sale		4,782		4,782		—		4,782		—
Loss share indemnification asset		—		—		—		—		—
Due from FDIC		—		—		—		—		—
Bank-owned life insurance		140,830		140,830		—		140,830		—
Derivative assets - Interest rate contracts		15,387		15,387		—		15,387		—
Financial Liabilities:
Deposits	$	4,466,087	$	4,467,199	$	—	$	4,467,199	$	—
Advances from the FHLB and other borrowings		1,232,893		1,233,205		—		1,233,205		—
Derivative liabilities - Interest rate contracts		15,387		15,387		—		15,387		—
Clawback liability		—		—		—		—		—

December 31, 2014	Carrying Value		Fair Value		Level 1		Level 2		Level 3
	(Dollars in thousands)
Financial Assets:
Cash and cash equivalents	$	107,085	$	107,085	$	107,085	$	—	$	—
Available for sale securities		1,359,098		1,359,098		23,594		1,335,504		—
FHLB and other bank stock		66,891		66,891		—		66,891		—
Loans, net		3,906,710		3,959,771		—		—		3,959,771
Loans held for sale		707		707		—		707		—
Loss share indemnification asset		63,168		27,976		—		—		27,976
Due from FDIC		1,735		1,735		—		1,735		—
Bank-owned life insurance		139,829		139,829		—		139,829		—
Derivative assets - Interest rate contracts		14,328		14,328		—		14,328		—
Financial Liabilities:
Deposits	$	3,978,535	$	3,977,629	$	—	$	3,977,629	$	—
Advances from the FHLB and other borrowings		1,067,981		1,066,764		—		1,066,764		—
Derivative liabilities - Interest rate contracts		14,328		14,328		—		14,328		—
Clawback liability		13,846		13,846		—		—		13,846

Certain financial instruments are carried at amounts that approximate fair value due to their short-term nature and generally negligible credit risk. Financial instruments for which fair value approximates the carrying amount at June 30, 2015 and December 31, 2014, include cash and cash equivalents and due from FDIC.

The following methods and assumptions were used to estimate the fair value of each class of financial instruments.

FHLB and Other Bank Stock:

FHLB and other bank stock can be liquidated only by redemption by the issuer, as there is no market for these securities. These securities are carried at par, which has historically represented the redemption price and is therefore considered to approximate fair value.

Loans:

Fair values for loans are based on a discounted cash flow methodology that considers various factors, including the type of loan and related collateral, classification status, fixed or variable interest rate, term of loan, whether or not the loan was amortizing and current discount rates. Loans are grouped together according to similar characteristics and are treated in the aggregate when applying various valuation techniques. The discount rates used for loans are based on current market rates for new originations of comparable credit risk and include adjustments for liquidity concerns. The ALL is considered a reasonable estimate of the required adjustment to fair value to reflect the impact of credit risk. This estimate may not represent an exit value as defined in ASC 820.

Loans Held for Sale:

Fair values of mortgage loans held for sale are based on commitments on hand from investors or prevailing market prices.

Loss Share Indemnification Asset:

The fair value of the loss share indemnification asset is estimated using a discounted cash flow technique based on projected cash flows related to the resolution of Covered Assets and a discount rate using a risk free rate, plus a premium to take into account the Company’s credit risk, that incorporates the uncertainty related to the amounts and timing of the cash flows and other liquidity concerns as well as the counterparties credit risk. As of June 30, 2015, the Company had no remaining loss share indemnification asset, as the Bank entered into an agreement with the FDIC to terminate all loss sharing agreements on March 4, 2015.

Due from FDIC:

The due from FDIC represents claims submitted to the Federal Deposit Insurance Corporation for reimbursement for which the Company expects to receive payment within 90 days. Due to their short term nature, the carrying amount of these instruments approximates the estimated fair value. As of June 30, 2015, the Company had no remaining receivable from the FDIC, as the Bank entered into an agreement with the FDIC to terminate all loss sharing agreements on March 4, 2015.

Bank-owned Life Insurance:

The Company holds life insurance policies on certain officers. The carrying value of these policies approximates fair value as it is based on the cash surrender value adjusted for other charges or amounts due that are probable at settlement.

Deposits:

The fair value of demand deposits, savings accounts and money market deposits is the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit is estimated using discounted cash flow analysis and using the rates currently offered for deposits of similar remaining maturities.

Advances from the FHLB and Other Borrowings:

The fair value of advances from the FHLB and other borrowings are estimated by discounting the future cash flows using the current rate at which similar borrowings with similar remaining maturities could be obtained.

EAAs:

The estimated fair value of EAAs are derived from an estimation of the future fair value of the Company’s stock and a range of potential payment liabilities are determined in accordance with the terms of each agreement. As of June 30, 2015, the Company had no remaining EAAs, as the EAAs reached final settlement with the FDIC on September 29, 2014.

XML

Covered Assets and Loss Sharing Agreements (Tables)

6 Months Ended

Jun. 30, 2015

Text Block [Abstract]

Summary of Carrying Value of Assets Covered by Loss Sharing Agreements

The following table summarizes the carrying value of assets covered by the loss sharing agreements:

	June 30, 2015		December 31, 2014
	(Dollars in thousands)
Loans, excluding allowance for loan losses	$	—	$	273,366
OREO		—		25,130
Total Covered Assets	$	—	$	298,496

Summary of Changes in Loss Share Indemnification Asset

Changes in the loss share indemnification asset for the periods presented were as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2015		2014			2015			2014
	(Dollars in thousands)
Balance at beginning of period	$	—	$	80,605		$	63,168		$	87,229
Termination of FDIC loss sharing agreements		—		—			(63,168	)		—
Reimbursable expenses		—		1,427			—			3,153
Amortization		—		(5,406	)		—			(11,405	)
Income resulting from impairment and charge-off of covered assets, net		—		456			—			1,206
Expense resulting from recoupment and disposition of covered assets, net		—		(1,260	)		—			(2,423	)
FDIC claims submissions		—		(969	)		—			(2,907	)
Balance at end of period	$	—	$	74,853		$	—		$	74,853

Summary of Changes in Clawback Liability Included Other Liabilities

The following table summarizes the changes in the clawback liability, included in Other Liabilities, for the periods presented:

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015			2014
	(Dollars in thousands)
Balance at beginning of period	$	—	$	12,060	$	13,846		$	11,753
Termination of FDIC loss sharing agreements		—		—		(13,846	)		—
Amortization impact		—		181		—			357
Remeasurement impact		—		284		—			415
Balance at end of period	$	—	$	12,525	$	—		$	12,525

XML

Allowance for Loan Losses - Summary of Impaired Loans Average Recorded Investment and Interest Income Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Real Estate Loans [Member]
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance - Average Recorded Investment	$ 529	$ 4,889	$ 529	$ 4,902
Impaired loans with no related allowance - Interest Income Recognized	0	0	0	0
Impaired loans with an allowance - Average Recorded Investment	5,263		5,341
Impaired loans with an allowance - Interest Income Recognized	0	0	0	0
Real Estate Loans [Member] | Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance - Average Recorded Investment		4,705		4,718
Impaired loans with no related allowance - Interest Income Recognized	0	0	0	0
Impaired loans with an allowance - Average Recorded Investment	4,825		4,899
Impaired loans with an allowance - Interest Income Recognized	0	0	0	0
Real Estate Loans [Member] | Owner Occupied Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance - Interest Income Recognized	0	0	0	0
Impaired loans with an allowance - Interest Income Recognized	0	0	0	0
Real Estate Loans [Member] | 1- 4 Single Family Residential [Member]
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance - Interest Income Recognized	0	0	0	0
Impaired loans with an allowance - Interest Income Recognized	0	0	0	0
Real Estate Loans [Member] | Construction Land and Development [Member]
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance - Interest Income Recognized	0	0	0	0
Impaired loans with an allowance - Interest Income Recognized	0	0	0	0
Real Estate Loans [Member] | Home Equity Loans and Lines of Credit [Member]
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance - Average Recorded Investment	529	184	529	184
Impaired loans with no related allowance - Interest Income Recognized	0	0	0	0
Impaired loans with an allowance - Average Recorded Investment	438		442
Impaired loans with an allowance - Interest Income Recognized	0	0	0	0
Other Loans [Member]
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance - Average Recorded Investment	556		540
Impaired loans with no related allowance - Interest Income Recognized	0	0	0	0
Impaired loans with an allowance - Interest Income Recognized	0	0	0	0
Other Loans [Member] | Commercial and Industrial [Member]
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance - Average Recorded Investment	556		540
Impaired loans with no related allowance - Interest Income Recognized	0	0	0	0
Impaired loans with an allowance - Interest Income Recognized	0	0	0	0
Other Loans [Member] | Consumer [Member]
Financing Receivable, Impaired [Line Items]
Impaired loans with no related allowance - Interest Income Recognized	0	0	0	0
Impaired loans with an allowance - Interest Income Recognized	$ 0	$ 0	$ 0	$ 0

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Loans, Net - Schedule of Loans by Portfolio Segment (Parenthetical) (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Receivables [Abstract]
Deferred fees, costs, premium and discount	$ (5.6)	$ 3.6

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Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement Of Comprehensive Income [Abstract]
Net income (loss)	$ 19,376	$ 9,166	$ 2,502	$ 12,694
Other comprehensive income (loss):
Unrealized net holding gains (losses) on investment securities available for sale, net of taxes of $6,121, $(4,894), $(501) and $(7,606), respectively	(9,747)	7,791	799	12,109
Reclassification adjustment for realized (gains) losses on investment securities available for sale included in net income, net of taxes of $456, $1,148, $879, and $1,480, respectively	(727)	(1,830)	(1,400)	(2,357)
Total other comprehensive income (loss)	(10,474)	5,961	(601)	9,752
Total comprehensive income (loss)	$ 8,902	$ 15,127	$ 1,901	$ 22,446

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Investment Securities

6 Months Ended

Jun. 30, 2015

Investments, Debt and Equity Securities [Abstract]

Investment Securities

NOTE 2. INVESTMENT SECURITIES

The amortized cost, gross unrealized gains and losses and approximate fair values of securities available for sale are as follows:

	Amortized Cost		Unrealized				Fair Value
June 30, 2015			Gains		Losses
	(Dollars in thousands)
Available for sale:
U.S. Government agencies and sponsored enterprises obligations	$	5,306	$	98	$	—	$	5,404
U.S. Government agencies and sponsored enterprises mortgage-backed securities		375,061		3,743		522		378,282
State and municipal obligations		2,040		190		—		2,230
Asset-backed securities		456,912		2,438		1,612		457,738
Corporate bonds and other debt securities		419,553		2,786		5,078		417,261
Preferred stock and other equity securities		171,150		343		2,259		169,234
Total available for sale	$	1,430,022	$	9,598	$	9,471	$	1,430,149

	Amortized Cost		Unrealized				Fair Value
December 31, 2014			Gains		Losses
	(Dollars in thousands)
Available for sale:
U.S. Government agencies and sponsored enterprises obligations	$	6,078	$	18	$	—	$	6,096
U.S. Government agencies and sponsored enterprises mortgage-backed securities		497,384		5,172		904		501,652
State and municipal obligations		2,039		238		—		2,277
Asset-backed securities		482,969		1,424		6,192		478,201
Corporate bonds and other debt securities		256,155		3,024		496		258,683
Preferred stock and other equity securities		113,367		261		1,439		112,189
Total available for sale	$	1,357,992	$	10,137	$	9,031	$	1,359,098

As part of the Company’s liquidity management strategy, the Company pledges loans and securities to secure borrowings from the FHLB. The Company also pledges securities to collateralize public deposits. The carrying value of all pledged securities totaled $761.8 million and $685.3 million at June 30, 2015 and December 31, 2014, respectively.

The amortized cost and estimated fair value of securities available for sale, by contractual maturity, are as follows:

June 30, 2015	Amortized Cost		Fair Value
	(Dollars in thousands)
Available for sale:
Due in one year or less	$	—	$	—
Due after one year through five years		81,627		81,677
Due after five years through ten years		73,077		72,375
Due after ten years		266,889		265,439
U.S. Government agencies and sponsored enterprises obligations, mortgage-backed securities and asset-backed securities		837,279		841,424
Preferred stock and other equity securities		171,150		169,234
Total available for sale	$	1,430,022	$	1,430,149

For purposes of the maturity table, U.S Government agencies and sponsored enterprises obligations, agency mortgage-backed securities and asset-backed securities, the principal of which are repaid periodically, are presented as a single amount. The expected lives of these securities will differ from contractual maturities because borrowers may have the right to prepay the underlying loans with or without prepayment penalties.

The following tables present the estimated fair values and gross unrealized losses on investment securities available for sale, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position as of the periods presented:

	Less than 12 Months				12 Months or More				Total
June 30, 2015	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
	(Dollars in thousands)
Available for sale:
U.S. Government agencies and sponsored enterprises obligations	$	—	$	—	$	—	$	—	$	—	$	—
U.S. Government agencies and sponsored enterprises mortgage-backed securities		37,102		292		14,510		230		51,612		522
State and municipal obligations		—		—		—		—		—		—
Asset-backed securities		106,790		396		87,596		1,216		194,386		1,612
Corporate bonds and other debt securities		269,281		5,078		—		—		269,281		5,078
Preferred stock and other equity securities		126,072		2,044		9,788		215		135,860		2,259
Total available for sale	$	539,245	$	7,810	$	111,894	$	1,661	$	651,139	$	9,471

	Less than 12 Months				12 Months or More				Total
December 31, 2014	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
	(Dollars in thousands)
Available for sale:
U.S. Government agencies and sponsored enterprises obligations	$	—	$	—	$	—	$	—	$	—	$	—
U.S. Government agencies and sponsored enterprises mortgage-backed securities		71,539		330		43,090		574		114,629		904
State and municipal obligations		—		—		—		—		—		—
Asset-backed securities		337,123		5,143		31,898		1,049		369,021		6,192
Corporate bonds and other debt securities		78,487		496		—		—		78,487		496
Preferred stock and other equity securities		53,064		737		10,606		702		63,670		1,439
Total available for sale	$	540,213	$	6,706	$	85,594	$	2,325	$	625,807	$	9,031

At June 30, 2015, the Company’s security portfolio consisted of 287 securities, of which 118 securities were in an unrealized loss position. A total of 92 were in an unrealized loss position for less than 12 months. The unrealized losses for these securities resulted primarily from changes in interest rates. All securities available for sale at June 30, 2015 and December 31, 2014 were investment grade based on ratings from recognized rating agencies.

The Company monitors its investment securities for other-than-temporary impairment (“OTTI”). Impairment is evaluated on an individual security basis considering numerous factors, with the relative significance varying by situation. The Company has evaluated the nature of unrealized losses in the investment securities portfolio to determine if OTTI exists. The unrealized losses relate to changes in market interest rates and specific market conditions that do not represent credit-related impairments. Furthermore, the Company does not intend to sell nor is it more likely than not that it will be required to sell these investments before the recovery of their amortized cost basis. Management has completed an assessment of each security in an unrealized loss position for credit impairment, including securities with existing characteristics that are covered under the Volcker Rule, and has determined that no individual security was other-than-temporarily impaired at June 30, 2015. The following describes the basis under which the Company has evaluated OTTI:

U.S. Government Agencies and Sponsored Enterprises Obligations and Agency Mortgage-Backed Securities (“MBS”):

The unrealized losses associated with U.S. Government agencies and sponsored enterprises obligations and agency MBS are primarily driven by changes in interest rates. These securities have either an explicit or implicit U.S. government guarantee.

Corporate Bonds and Asset Backed Securities:

Securities were generally underwritten in accordance with the Company’s investment standards prior to the decision to purchase, without relying on a bond issuer’s guarantee in making the investment decision. These investments are investment grade and will continue to be monitored as part of the Company’s ongoing impairment analysis, but are expected to perform in accordance with their terms.

Preferred Stock and Other Equity Investments:

The unrealized losses associated with preferred stock and other equity investments in large U.S. financial institutions are primarily driven by changes in interest rates. These securities were generally underwritten in accordance with the Company’s investment standards prior to the decision to purchase. These investments are investment grade and will continue to be monitored as part of the Company’s ongoing impairment analysis, but are expected to perform in accordance with their terms.

Gross realized gains and losses on the sale of securities available for sale are shown below. The cost of securities sold is based on the specific identification method.

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
	(Dollars in thousands)
Gross realized gains	$	849		$	5,203		$	1,961		$	7,897
Gross realized losses		(844	)		(824	)		(913	)		(1,012	)
Net realized gains (losses)	$	5		$	4,379		$	1,048		$	6,885

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Deposits - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Banking and Thrift [Abstract]
Aggregate amount of overdraft demand deposits reclassified to loans	$ 836
Aggregate amount of time deposits, Year one	799,200
Aggregate amount of time deposits, Year two	265,300
Aggregate amount of time deposits, Year three	152,900
Aggregate amount of time deposits, Year four	34,600
Aggregate amount of time deposits, Year five	5,600
Brokered deposits through an insured deposits sweep program	$ 384,500	$ 338,200

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Fair Value Measurements - Schedule of Changes in Fair Value of Liabilities Measured at Fair Value on Recurring Basis and Classified in Level 3 of Fair Value Hierarchy for Periods Presented (Detail) - Level 3 [Member] - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Clawback Liability [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	$ 12,060	$ 13,846	$ 11,753
Losses (gains) included in other noninterest expenses	465		772
Termination of FDIC loss sharing agreements		$ (13,846)
Balance at end of period	12,525		12,525
EAAs [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	1,362		1,114
Losses (gains) included in other noninterest expenses	452		700
Balance at end of period	$ 1,814		$ 1,814

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Derivatives (Tables)

6 Months Ended

Jun. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Derivatives Outstanding Included in Other Assets and Liabilities

The following tables summarize the Company’s derivatives outstanding included in Other Assets and Other Liabilities in the accompanying consolidated balance sheets:

June 30, 2015	Derivative Assets				Derivative Liabilities
	Notional		Fair Value		Notional		Fair Value
	(Dollars in thousands)
Derivatives not designated as hedging instruments under ASC 815-10
Interest rate contracts - pay floating, receive fixed	$	562,618	$	15,387	$	27,338	$	125
Interest rate contracts - pay fixed, receive floating		—		—		589,956		15,262
Total derivatives	$	562,618	$	15,387	$	617,294	$	15,387

December 31, 2014	Derivative Assets				Derivative Liabilities
	Notional		Fair Value		Notional		Fair Value
	(Dollars in thousands)
Derivatives not designated as hedging instruments under ASC 815-10
Interest rate contracts - pay floating, receive fixed	$	464,890	$	14,328	$	8,298	$	39
Interest rate contracts - pay fixed, receive floating		—		—		473,188		14,289
Total derivatives	$	464,890	$	14,328	$	481,486	$	14,328

Summary of Gross and Net Fair Value of Derivatives Outstanding Included in Other Liabilities

The following table summarizes the gross and net fair values of the Company’s derivatives outstanding with this counterparty included in Other Liabilities in the accompanying consolidated balance sheets:

June 30, 2015	Gross amounts of recognized liabilities		Gross amounts offset in the consolidated balance sheets			Net amounts in the consolidated balance sheets
	(Dollars in thousands)
Offsetting derivative liabilities
Counterparty A - Interest rate contracts	$	15,387	$	(125	)	$	15,262
Total	$	15,387	$	(125	)	$	15,262

December 31, 2014	Gross amounts of recognized liabilities		Gross amounts offset in the consolidated balance sheets			Net amounts in the consolidated balance sheets
	(Dollars in thousands)
Offsetting derivative liabilities
Counterparty A - Interest rate contracts	$	14,328	$	(39	)	$	14,289
Total	$	14,328	$	(39	)	$	14,289

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Investment Securities - Summary of Estimated Fair Values and Gross Unrealized Losses on Investment Securities Available for Sale (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities at Fair Value, Less than 12 months	$ 539,245	$ 540,213
Available for sale securities Unrealized Loss, Less than 12 Months	7,810	6,706
Available for sale securities at Fair Value, 12 months or more	111,894	85,594
Available for sale securities Unrealized Loss, 12 months or more	1,661	2,325
Available for sale securities, Total Fair Value	651,139	625,807
Available for sale securities, Total Unrealized Loss	9,471	9,031
U.S. Government Agencies and Sponsored Enterprises Mortgage-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities at Fair Value, Less than 12 months	37,102	71,539
Available for sale securities Unrealized Loss, Less than 12 Months	292	330
Available for sale securities at Fair Value, 12 months or more	14,510	43,090
Available for sale securities Unrealized Loss, 12 months or more	230	574
Available for sale securities, Total Fair Value	51,612	114,629
Available for sale securities, Total Unrealized Loss	522	904
Asset-backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities at Fair Value, Less than 12 months	106,790	337,123
Available for sale securities Unrealized Loss, Less than 12 Months	396	5,143
Available for sale securities at Fair Value, 12 months or more	87,596	31,898
Available for sale securities Unrealized Loss, 12 months or more	1,216	1,049
Available for sale securities, Total Fair Value	194,386	369,021
Available for sale securities, Total Unrealized Loss	1,612	6,192
Corporate Bonds and Other Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities at Fair Value, Less than 12 months	269,281	78,487
Available for sale securities Unrealized Loss, Less than 12 Months	5,078	496
Available for sale securities, Total Fair Value	269,281	78,487
Available for sale securities, Total Unrealized Loss	5,078	496
Preferred Stock and Other Equity Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities at Fair Value, Less than 12 months	126,072	53,064
Available for sale securities Unrealized Loss, Less than 12 Months	2,044	737
Available for sale securities at Fair Value, 12 months or more	9,788	10,606
Available for sale securities Unrealized Loss, 12 months or more	215	702
Available for sale securities, Total Fair Value	135,860	63,670
Available for sale securities, Total Unrealized Loss	$ 2,259	$ 1,439

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Commitments and Contingencies

6 Months Ended

Jun. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

NOTE 12. COMMITMENTS AND CONTINGENCIES

The Company issues off-balance sheet financial instruments in connection with its lending activities and to meet the financing needs of its customers. These financial instruments include commitments to fund loans and lines of credit as well as commercial and standby letters of credit. These commitments expose the Company to varying degrees of credit and market risk which are essentially the same as extending loans to customers. The Company follows the same credit policies in making commitments as it does for instruments recorded on the Company’s consolidated balance sheet. Collateral is obtained based on management’s assessment of the customer’s credit risk.

The Company’s exposure to credit loss is represented by the contractual amount of commitments. As of June 30, 2015 and December 31, 2014 the Company’s reserve for unfunded commitments totaled $1.5 million and $1.2 million, respectively.

Fees collected on off-balance sheet financial instruments represent the fair value of those commitments and are deferred and amortized over their term, which is typically one year or less. Amounts funded under non-cancelable commitments in effect at the date of acquisition are Covered Assets under the loss-sharing agreements, if applicable and if certain conditions are met.

Financial Instruments Commitments

Unfunded commitments are as follows:

	June 30, 2015		December 31, 2014
	(Dollars in thousands)
Commitments to fund loans	$	428,736	$	351,369
Unused lines of credit		251,792		199,880
Commercial and standby letters of credit		14,158		10,223
Total	$	694,686	$	561,472

Commitments to fund loans:

Commitments to fund loans are agreements to lend funds to customers as long as there is no violation of any condition established in the contract. To accommodate the financial needs of customers, the Company makes commitments under various terms to lend funds to consumers and businesses. Commitments to fund loans generally have fixed expiration dates or other termination clauses and may require payment of a fee. Many of these commitments are expected to expire without being funded and, therefore, the total commitment amounts do not necessarily represent future liquidity requirements.

The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral required in connection with a commitment to fund is based on management’s credit evaluation of the counterparty.

Unused lines of credit:

Unfunded commitments under lines of credit include commercial, commercial real estate, home equity and consumer lines of credit to existing customers. Some of these commitments may mature without being fully funded.

Commercial and standby letters of credit:

Letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Letters of credit are primarily issued to support trade transactions or guarantee arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Company generally holds collateral supporting those commitments if deemed necessary.

Other Commitments and Contingencies

Legal Proceedings

The Company, from time to time, is involved as plaintiff or defendant in various legal actions arising in the normal course of business. While the ultimate outcome of any such proceedings cannot be predicted with certainty, it is the opinion of management, based upon advice of legal counsel, that no proceedings exist, either individually or in the aggregate, which, if determined adversely to the Company, would have a material effect on the Company’s consolidated balance sheet, results of operations or cash flows.

A bank-owned asset in Miami-Dade County was foreclosed in 2012, and later discovered to have been illegally infilled over protected wetlands by the prior owner. The Bank had been working with Miami-Dade County environmental agencies to address the situation, along with Bank environmental attorneys specializing in this area. The subject property was sold during Q1 2015 to a third party purchaser and the Bank has no further legal liability for the asset.

The SEC is investigating the valuation and accounting treatment by Great Florida Bank (“GFB”), prior to the Great Florida Acquisition by the Company, of an office building acquired by GFB in 2009 and the use of appraisals with respect to such valuation. The Bank is cooperating with the investigation. On the date of acquisition by the Bank, based on the Company’s plans and intended use of the acquired office building, the asset was classified as OREO and recorded at fair value, less estimated selling costs. The fair value of the office building was based on a third party real estate appraisal at the date of acquisition. The Company does not believe that the results of the SEC investigation relating to GFB are likely to have a material adverse effect on the financial condition or results of operations of the Company. The subject property was sold during Q2 2015 to a third party purchaser.