Loans Held for Investment, net (Tables)

12 Months Ended

Dec. 31, 2015

Receivables [Abstract]

Loans Held for Investment, Net

Loans held for investment, net consist of the following:

	December 31,
	2015			2014
	(In thousands)
Residential	$	529,775		$	531,131
Commercial and industrial	25,199			16,514
Commercial real estate:
Land and construction	143,419			106,436
Multi-family	318,313			265,735
Retail/office	161,497			155,095
Other commercial real estate	143,696			156,243
Total commercial real estate	766,925			683,509
Consumer:
Education	91,671			108,384
Other consumer	227,283			233,482
Total consumer loans	318,954			341,866
Total gross loans	1,640,853			1,573,020
Unamortized loan fees, net	(753		)	(1,544		)
Loans held for investment	1,640,100			1,571,476
Allowance for loan losses	(25,147		)	(47,037		)
Loans held for investment, net	$	1,614,953		$	1,524,439

Allowance for Loan Losses by Component

The following table presents the allowance for loan losses by component:

	December 31,
	2015		2014
	(In thousands)
General reserve	$	20,840	$	38,596
Specific reserve	4,307		8,441
Total allowance for loan losses	$	25,147	$	47,037

Allowance for Loan Losses by Portfolio Segment

The following table presents activity in the allowance for loan losses by portfolio segment:

	Residential			Commercial and Industrial			Commercial Real Estate			Consumer			Total
	(In thousands)
For the Year Ended:
December 31, 2015
Beginning balance	$	10,684		$	1,436		$	28,716		$	6,201		$	47,037
Provision	(6,025		)	(3,096		)	(18,538		)	(1,837		)	(29,496		)
Charge-offs	(1,112		)	(106		)	(1,696		)	(1,105		)	(4,019		)
Recoveries	1,569			2,122			7,502			432			11,625
Ending balance	$	5,116		$	356		$	15,984		$	3,691		$	25,147
Allowance for loan losses:
Associated with impaired loans	$	1,421		$	118		$	2,218		$	550		$	4,307
Associated with all other loans	3,695			238			13,767			3,140			20,840
Total	$	5,116		$	356		$	15,985		$	3,690		$	25,147
Loans:
Impaired loans individually evaluated	$	11,659		$	184		$	29,692		$	2,367		$	43,902
All other loans	518,116			25,015			737,233			316,587			1,596,951
Total	$	529,775		$	25,199		$	766,925		$	318,954		$	1,640,853
For the Year Ended:
December 31, 2014
Beginning balance	$	13,059		$	6,402		$	42,065		$	3,656		$	65,182
Provision	(599		)	(2,622		)	(6,129		)	4,765			(4,585		)
Charge-offs	(2,212		)	(5,220		)	(16,041		)	(2,599		)	(26,072		)
Recoveries	436			2,876			8,821			379			12,512

Ending balance	$	10,684		$	1,436		$	28,716		$	6,201		$	47,037
Allowance for loan losses:
Associated with impaired loans	$	1,400		$	140		$	6,475		$	426		$	8,441
Associated with all other loans	9,284			1,296			22,241			5,775			38,596
Total	$	10,684		$	1,436		$	28,716		$	6,201		$	47,037
Loans:
Impaired loans individually evaluated	$	14,497		$	113		$	79,160		$	1,515		$	95,285
All other loans	516,634			16,401			604,349			340,351			1,477,735
Total	$	531,131		$	16,514		$	683,509		$	341,866		$	1,573,020
For the Nine Months Ended:
December 31, 2013
Beginning balance	$	14,525		$	7,072		$	54,581		$	3,637		$	79,815
Provision	2,224			(599		)	(2,942		)	1,592			275
Charge-offs	(4,419		)	(864		)	(13,100		)	(1,903		)	(20,286		)
Recoveries	729			793			3,526			330			5,378
Ending balance	$	13,059		$	6,402		$	42,065		$	3,656		$	65,182
Allowance for loan losses:
Associated with impaired loans	$	2,424		$	1,745		$	19,845		$	477		$	24,491
Associated with all other loans	10,635			4,657			22,220			3,179			40,691
Total	$	13,059		$	6,402		$	42,065		$	3,656		$	65,182
Loans:
Impaired loans individually evaluated	$	20,502		$	2,315		$	106,657		$	3,284		$	132,758
All other loans	509,275			19,276			595,698			364,547			1,488,796
Total	$	529,777		$	21,591		$	702,355		$	367,831		$	1,621,554

Impaired Loans Segregated by Loans with No Specific Allowance and Loans with Allowance by Class of Loans

The following table presents impaired loans segregated by loans with no specific allowance and loans with an allowance by class of loans. The recorded investment amounts represent the gross loan balance less charge-offs. The unpaid principal balance represents the contractual loan balance less any principal payments applied. The interest income recognized column represents all interest income recorded either on a cash or accrual basis after the loan became impaired.

	Recorded Investment		Unpaid Principal Balance		Associated Allowance		Average Carrying Amount		Year-to-Date Interest Income Recognized
	(In thousands)
December 31, 2015
With no specific allowance recorded:
Residential	$	4,143	$	5,193	$	—	$	5,303	$	171
Commercial and industrial	65		88		—		16		3
Land and construction	798		1,125		—		3,515		36
Multi-family	10,932		11,300		—		15,995		574
Retail/office	2,235		2,593		—		5,775		83
Other commercial real estate	1,479		2,114		—		9,046		115
Education (1)	—		—		—		—		—
Other consumer	1,105		1,218		—		1,181		69
Subtotal	$	20,757	$	23,631	$	—	$	40,831	$	1,051
With an allowance recorded:
Residential	$	7,516	$	7,551	$	1,421	$	6,843	$	285
Commercial and industrial	119		119		118		63		—
Land and construction	4,795		9,062		980		3,917		181
Multi-family	9,027		9,027		1,166		8,421		387
Retail/office	390		390		50		6,073		21
Other commercial real estate	36		48		22		168		—
Education (1)	191		191		191		104		—
Other consumer	1,071		1,073		359		560		64
Subtotal	$	23,145	$	27,461	$	4,307	$	26,149	$	938
Total
Residential	$	11,659	$	12,744	$	1,421	$	12,146	$	456
Commercial and industrial	184		207		118		79		3
Land and construction	5,593		10,187		980		7,432		217
Multi-family	19,959		20,327		1,166		24,416		961
Retail/office	2,625		2,983		50		11,848		104
Other commercial real estate	1,515		2,162		22		9,214		115
Education (1)	191		191		191		104		—
Other consumer	2,176		2,291		359		1,741		133
	$	43,902	$	51,092	$	4,307	$	66,980	$	1,989

(1) Excludes the guaranteed portion of education loans 90+ days past due with balance of $6.2 million and average carrying amounts totaling $6.0 million at December 31, 2015.

	Recorded Investment		Unpaid Principal Balance		Associated Allowance		Average Carrying Amount		Year-to-Date Interest Income Recognized
	(In thousands)
December 31, 2014
With no specific allowance recorded:
Residential	$	4,992	$	6,406	$	—	$	5,455	$	165
Commercial and industrial	—		268		—		843		26
Land and construction	9,421		19,334		—		12,192		208
Multi-family	17,614		19,863		—		17,979		780
Retail/office	7,840		15,581		—		8,040		354
Other commercial real estate	13,972		15,318		—		14,617		467
Education (1)	205		205		—		101		—
Other consumer	469		845		—		1,003		89
Subtotal	$	54,513	$	77,820	$	—	$	60,230	$	2,089
With an allowance recorded (2):
Residential	$	9,505	$	9,671	$	1,400	$	8,574	$	403
Commercial and industrial	113		236		140		111		1
Land and construction	8,362		12,536		3,657		4,440		180
Multi-family	11,641		11,641		1,308		10,465		485
Retail/office	9,387		9,566		1,391		8,207		356
Other commercial real estate	923		936		119		854		17
Education (1)	—		—		—		—		—
Other consumer	841		841		426		617		48
Subtotal	$	40,772	$	45,427	$	8,441	$	33,268	$	1,490
Total
Residential	$	14,497	$	16,077	$	1,400	$	14,029	$	568
Commercial and industrial	113		504		140		954		27
Land and construction	17,783		31,870		3,657		16,632		388
Multi-family	29,255		31,504		1,308		28,444		1,265
Retail/office	17,227		25,147		1,391		16,247		710
Other commercial real estate	14,895		16,254		119		15,471		484
Education (1)	205		205		—		101		—
Other consumer	1,310		1,686		426		1,620		137
	$	95,285	$	123,247	$	8,441	$	93,498	$	3,579

(1) Excludes the guaranteed portion of education loans 90+ days past due with balance of $6.6 million and average carrying amounts totaling $7.7 million at December 31, 2014.

(2) Includes ratio-based allowance for loan losses of $0.5 million associated with loans totaling $1.9 million at December 31, 2014, for which individual reviews have not been completed but an allowance established based on the ratio of allowance for loan losses to gross loans individually reviewed, by class of loan.

Schedule of Average Recorded Investment in Impaired Loans and Interest Income Recognized on Impaired Loans

The average recorded investment in impaired loans and interest income recognized on impaired loans follows:

	Year Ended December 31, 2015				Year Ended December 31, 2014				Nine Months Ended December 31, 2013
	Average Carrying Amount		Interest Income Recognized		Average Carrying Amount		Interest Income Recognized		Average Carrying Amount		Interest Income Recognized
	(In thousands)
Residential	$	12,146	$	456	$	14,029	$	568	$	18,847	$	344
Commercial and industrial	79		3		954		27		992		316
Land and construction	7,432		217		16,632		388		19,973		142
Multi-family	24,416		961		28,444		1,265		11,456		233
Retail/office	11,848		104		16,247		710		25,988		604
Other commercial real estate	9,214		115		15,471		484		14,821		312
Education	104		—		101		—		343		—
Other consumer	1,741		133		1,620		137		3,031		146
	$	66,980	$	1,989	$	93,498	$	3,579	$	95,451	$	2,097

Aging of Recorded Investment in Past Due Loans, by Class of Loans

The following table presents the aging of the recorded investment in past due loans by class of loans:

	Days Past Due
	30-59		60-89		90 or More		Current		Total
	(In thousands)
December 31, 2015
Residential	$	663	$	58	$	883	$	528,171	$	529,775
Commercial and industrial	223		177		149		24,650		25,199
Land and construction	910		—		267		142,242		143,419
Multi-family	—		—		—		318,313		318,313
Retail/office	—		398		791		160,308		161,497
Other commercial real estate	—		315		83		143,298		143,696
Education	2,700		2,097		6,375		80,499		91,671
Other consumer	529		84		541		226,129		227,283
	$	5,025	$	3,129	$	9,089	$	1,623,610	$	1,640,853
December 31, 2014
Residential	$	1,186	$	802	$	2,995	$	526,148	$	531,131
Commercial and industrial	205		—		196		16,113		16,514
Land and construction	267		29		1,111		105,029		106,436
Multi-family	—		—		3,518		262,217		265,735
Retail/office	—		—		2,172		152,923		155,095
Other commercial real estate	—		—		3,011		153,232		156,243
Education	3,505		2,140		6,818		95,921		108,384
Other consumer	632		126		517		232,207		233,482
	$	5,795	$	3,097	$	20,338	$	1,543,790	$	1,573,020

Risk Category of Loans by Class of Loans

The risk category of loans by class of loans, and based on the most recent analysis performed, is as follows:

	Pass (1)			Special Mention			Substandard			Non-Accrual			Total Gross Loans
	(In thousands)
December 31, 2015
Commercial and industrial	$	24,364		$	—		$	674		$	161		$	25,199
Commercial real estate:
Land and construction	137,383			—			579			5,457			143,419
Multi-family	315,366			—			1,749			1,198			318,313
Retail/office	156,737			274			3,121			1,365			161,497
Other	131,647			—			10,903			1,146			143,696
	$	765,497		$	274		$	17,026		$	9,327		$	792,124
Percent of total gross loans	96.6		%	—		%	2.2		%	1.2		%	100.0		%
December 31, 2014
Commercial and industrial	$	14,990		$	—		$	1,491		$	33		$	16,514
Commercial real estate:
Land and construction	85,425			946			2,870			17,195			106,436
Multi-family	261,254			—			915			3,566			265,735
Retail/office	143,260			4,753			3,112			3,970			155,095
Other	145,995			174			6,452			3,622			156,243
	$	650,924		$	5,873		$	14,840		$	28,386		$	700,023
Percent of total gross loans	93.0		%	0.8		%	2.1		%	4.1		%	100.0		%

(1) Includes TDR accruing loans.

Residential and Consumer Gross Loans Based on Accrual Status

The following table presents the residential and consumer gross loans based on accrual status:

	December 31, 2015						December 31, 2014
	Accrual (1)		Non-Accrual		Total Gross Loans		Accrual (1)		Non-Accrual		Total Gross Loans
	(In thousands)
Residential	$	524,780	$	4,995	$	529,775	$	525,258	$	5,873	$	531,131
Consumer
Education (2)	91,480		191		91,671		108,179		205		108,384
Other consumer	226,487		796		227,283		232,831		651		233,482
	$	842,747	$	5,982	$	848,729	$	866,268	$	6,729	$	872,997

(1) Accrual residential and consumer loans includes substandard rated loans including TDR-accrual.

(2) Non-accrual education loans represent the portion of these loans 90+ days past due that are not covered by a guarantee provided by government agencies that is limited to approximately 97% of the outstanding balance.

Loans Modified Troubled Debt Restructuring by Class

The following table presents information related to loans modified in a troubled debt restructuring by class:

	Number of Modifications (1)	Gross Loans (2) (at beginning of period)		Gross Loans (2) (at period end)
	(Dollars in thousands)
For the Year Ended December 31, 2015
Residential	7	$	549	$	582
Commercial and industrial	1	12		11
Retail/office	1	752		510
Other consumer	24	1,259		1,251
	33	$	2,572	$	2,354

For the Year Ended December 31, 2014
Residential	13	$	1,632	$	1,620
Commercial and industrial	2	64		97
Land and construction	3	427		410
Multi-family	3	1,283		1,183
Other commercial real estate	2	251		256
Other consumer	11	353		305
	34	$	4,010	$	3,871

(1) Loans modified in a TDR that were fully paid down, charged-off or foreclosed upon by period end are not reported in this table.

(2) Gross loans is inclusive of all partial paydowns and charge-offs since the modification date.

Gross Loans Modified in TDR by Class and by Type of Modification

The following tables present gross loans modified in a troubled debt restructuring during the years ended December 31, 2015 and 2014 by class and by type of modification:

	Principal and Interest to Interest Only		Interest Rate Reduction		Interest Rate Reduction To Below Market Rate (1)		Other (2)		Total
	(In thousands)
For the Year Ended December 31, 2015
Residential	$	—	$	380	$	78	$	124	$	582
Commercial and industrial	—		11		—		—		11
Retail/office	—		—		—		510		510
Other consumer	—		454		210		587		1,251
	$	—	$	845	$	288	$	1,221	$	2,354

For the Year Ended December 31, 2014
Residential	$	175	$	788	$	119	$	538	$	1,620
Commercial and industrial	—		—		—		97		97
Land and construction	—		63		—		347		410
Multi-family	—		—		921		262		1,183
Other commercial real estate	—		—		214		42		256
Other consumer	—		252		—		53		305
	$	175	$	1,103	$	1,254	$	1,339	$	3,871

(1) Includes loans modified at below market rates for borrowers with similar risk profiles and having comparable loan terms and conditions. Market rates are determined by reference to internal new loan pricing grids that specify credit spreads based on loan risk rating and term to maturity.

(2) Other modifications primarily include providing for the deferral of interest currently due to the new maturity date of the loan.