Loans Receivable And Allowance For Credit Losses (Tables)

3 Months Ended

Mar. 31, 2013

Loans Receivable And Allowance For Credit Losses [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

The following table presents the composition of Sterling’s loan portfolio as of the balance sheet dates:

	March 31, 2013			December 31, 2012
	(in thousands)
Residential real estate	$	857,864		$	806,722
Commercial real estate ("CRE"):
Investor CRE	1,163,821			1,219,847
Multifamily	1,725,403			1,580,289
Construction	71,213			74,665
Total CRE	2,960,437			2,874,801
Commercial:
Owner occupied CRE	1,372,949			1,276,591
Commercial & Industrial ("C&I")	533,955			540,499
Total commercial	1,906,904			1,817,090
Consumer	752,292			754,621
Gross loans receivable	6,477,497			6,253,234
Deferred loan costs (fees), net	6,736			2,860
Allowance for loan losses	(149,673		)	(154,345		)
Net loans receivable	$	6,334,560		$	6,101,749

Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block]

	Three Months Ended March 31,
	2013			2012
	(in thousands)
Beginning balance	$	1,332		$	0
Additions	1,774			1,923
Accretion to interest income	(205		)	(14		)
Reclassifications	160			0
Ending balance	$	3,061		$	1,909

Five-Year Maturity, Projected Accretion Of The Discount, Recognized In Interest Income [Table Text Block]

The following table presents, as of March 31, 2013, the five-year projected loan discount accretion to be recognized as an increase to interest income:

	Amount
	(in thousands)
Remainder of 2013	$	2,938
Years ended December 31,
2014	2,796
2015	1,724
2016	1,032
2017	679
2018	434

Allowance for Credit Losses on Financing Receivables [Table Text Block]

The following table sets forth details by segment for Sterling’s loan portfolio and related allowance as of the balance sheet dates:

	Residential Real Estate		Commercial Real Estate		Commercial		Consumer		Unallocated		Total
	(in thousands)
March 31, 2013
Loans receivable, gross:
Individually evaluated for impairment	$	0	$	83,454	$	48,342	$	0	$	0	$	131,796
Collectively evaluated for impairment	857,864		2,876,983		1,858,562		752,292		0		6,345,701
Total loans receivable, gross	$	857,864	$	2,960,437	$	1,906,904	$	752,292	$	0	$	6,477,497
Allowance for loan losses:
Individually evaluated for impairment	$	0	$	4,308	$	5,106	$	0	$	0	$	9,414
Collectively evaluated for impairment	19,968		40,827		34,490		25,817		19,157		140,259
Total allowance for loan losses	$	19,968	$	45,135	$	39,596	$	25,817	$	19,157	$	149,673
December 31, 2012
Loans receivable, gross:
Individually evaluated for impairment	$	9,134	$	68,317	$	48,312	$	494	$	0	$	126,257
Collectively evaluated for impairment	797,588		2,806,484		1,768,778		754,127		0		6,126,977
Total loans receivable, gross	$	806,722	$	2,874,801	$	1,817,090	$	754,621	$	0	$	6,253,234
Allowance for loan losses:
Individually evaluated for impairment	$	365	$	3,182	$	4,916	$	0	$	0	$	8,463
Collectively evaluated for impairment	19,482		44,912		36,958		25,602		18,928		145,882
Total allowance for loan losses	$	19,847	$	48,094	$	41,874	$	25,602	$	18,928	$	154,345

Allowance for Credit Losses Rollforward [Table Text Block]

The following tables present a roll-forward by segment of the allowance for credit losses for the periods presented:

	Residential Real Estate			Commercial Real Estate			Commercial			Consumer			Unallocated		Total
	(in thousands)
2013 first quarter activity
Allowance for loan losses:
Beginning balance, Jan 1	$	19,847		$	48,094		$	41,874		$	25,602		$	18,928	$	154,345
Provisions	960			(1,091		)	(1,610		)	1,512			229		0
Charge-offs	(1,019		)	(2,923		)	(1,588		)	(1,644		)	0		(7,174		)
Recoveries	180			1,055			920			347			0		2,502
Ending balance, March 31	19,968			45,135			39,596			25,817			19,157		149,673
Reserve for unfunded credit commitments:
Beginning balance, Jan 1	2,230			405			2,806			2,118			443		8,002
Provisions	(309		)	(50		)	(373		)	604			128		0
Charge-offs	(12		)	0			0			0			0		(12		)
Recoveries	0			0			0			0			0		0
Ending balance, March 31	1,909			355			2,433			2,722			571		7,990
Total credit allowance	$	21,877		$	45,490		$	42,029		$	28,539		$	19,728	$	157,663
2012 first quarter activity
Allowance for loan losses:
Beginning balance, Jan 1	$	15,197		$	91,722		$	38,046		$	13,427		$	19,066	$	177,458
Provisions	(980		)	(2,824		)	4,458			2,638			708		4,000
Charge-offs	(2,187		)	(11,518		)	(9,533		)	(2,452		)	0		(25,690		)
Recoveries	212			3,234			1,512			547			0		5,505
Ending balance, March 31	12,242			80,614			34,483			14,160			19,774		161,273
Reserve for unfunded credit commitments:
Beginning balance, Jan 1	3,828			2,321			1,796			1,787			297		10,029
Provisions	(25		)	(713		)	665			(505		)	578		0
Charge-offs	(1		)	0			0			0			0		(1		)
Recoveries	0			0			0			0			0		0
Ending balance, March 31	3,802			1,608			2,461			1,282			875		10,028
Total credit allowance	$	16,044		$	82,222		$	36,944		$	15,442		$	20,649	$	171,301

Financing Receivable Credit Quality Indicators [Table Text Block]

The following table presents credit quality indicators for Sterling’s loan portfolio grouped according to internally assigned risk ratings and performance status:

			Commercial Real Estate						Commercial
	Residential Real Estate		Investor CRE		Multifamily		Construction		Owner Occupied CRE		Commercial & Industrial		Consumer		Total		% of Total
	(in thousands)
March 31, 2013
Pass	$	766,136	$	571,102	$	1,640,373	$	11,362	$	733,524	$	346,956	$	722,180	$	4,791,633	74	%
Marginal	52,250		453,064		69,576		41,995		499,192		149,595		15,901		1,281,573		20	%
Special mention	11,542		81,649		10,568		4,585		76,629		29,485		5,425		219,883		3	%
Substandard	27,625		55,001		4,667		12,187		58,560		7,894		8,786		174,720		3	%
Doubtful/Loss	311		3,005		219		1,084		5,044		25		0		9,688		0	%
Total	$	857,864	$	1,163,821	$	1,725,403	$	71,213	$	1,372,949	$	533,955	$	752,292	$	6,477,497	100	%
Restructured	$	24,407	$	8,482	$	3,504	$	9,718	$	22,263	$	806	$	304	$	69,484	1	%
Nonaccrual	18,421		35,765		1,321		7,488		40,458		4,407		5,787		113,647		2	%
Nonperforming	42,828		44,247		4,825		17,206		62,721		5,213		6,091		183,131		3	%
Performing	815,036		1,119,574		1,720,578		54,007		1,310,228		528,742		746,201		6,294,366		97	%
Total	$	857,864	$	1,163,821	$	1,725,403	$	71,213	$	1,372,949	$	533,955	$	752,292	$	6,477,497	100	%
December 31, 2012
Pass	$	714,346	$	599,660	$	1,486,824	$	10,946	$	678,916	$	349,674	$	723,698	$	4,564,064	73	%
Marginal	53,722		472,801		74,379		42,518		454,348		146,554		17,255		1,261,577		20	%
Special mention	11,739		77,342		10,122		3,401		85,228		38,874		4,864		231,570		4	%
Substandard	26,550		67,347		8,745		17,534		53,183		5,397		8,804		187,560		3	%
Doubtful/Loss	365		2,697		219		266		4,916		0		0		8,463		0	%
Total	$	806,722	$	1,219,847	$	1,580,289	$	74,665	$	1,276,591	$	540,499	$	754,621	$	6,253,234	100	%
Restructured	$	22,968	$	4,334	$	4,094	$	8,551	$	23,152	$	810	$	307	$	64,216	1	%
Nonaccrual	20,457		46,399		4,055		8,144		31,696		3,424		6,938		121,113		2	%
Nonperforming	43,425		50,733		8,149		16,695		54,848		4,234		7,245		185,329		3	%
Performing	763,297		1,169,114		1,572,140		57,970		1,221,743		536,265		747,376		6,067,905		97	%
Total	$	806,722	$	1,219,847	$	1,580,289	$	74,665	$	1,276,591	$	540,499	$	754,621	$	6,253,234	100	%

Past Due Financing Receivables [Table Text Block]

Aging by class for Sterling’s loan portfolio as of March 31, 2013 and December 31, 2012 was as follows:

			Commercial Real Estate						Commercial
	Residential Real Estate		Investor CRE		Multifamily		Construction		Owner Occupied CRE		Commercial & Industrial		Consumer		Total		% of Total
	(in thousands)
March 31, 2013
30 - 59 days past due	$	5,884	$	6,004	$	168	$	219	$	7,666	$	1,048	$	4,810	$	25,799	0	%
60 - 89 days past due	2,587		5,329		0		3,661		5,522		414		1,281		18,794		0	%
> 90 days past due	19,542		23,404		1,184		7,488		27,780		2,096		4,034		85,528		2	%
Total past due	28,013		34,737		1,352		11,368		40,968		3,558		10,125		130,121		2	%
Current	829,851		1,129,084		1,724,051		59,845		1,331,981		530,397		742,167		6,347,376		98	%
Total Loans	$	857,864	$	1,163,821	$	1,725,403	$	71,213	$	1,372,949	$	533,955	$	752,292	$	6,477,497	100	%
> 90 days and accruing	$	0	$	0	$	0	$	0	$	0	$	0	$	0	$	0	0	%
December 31, 2012
30 - 59 days past due	$	5,800	$	10,565	$	707	$	611	$	10,543	$	2,690	$	4,028	$	34,944	1	%
60 - 89 days past due	1,576		1,042		479		0		3,300		376		1,796		8,569		0	%
> 90 days past due	20,507		34,196		3,436		8,243		20,883		1,954		4,717		93,936		2	%
Total past due	27,883		45,803		4,622		8,854		34,726		5,020		10,541		137,449		3	%
Current	778,839		1,174,044		1,575,667		65,811		1,241,865		535,479		744,080		6,115,785		97	%
Total Loans	$	806,722	$	1,219,847	$	1,580,289	$	74,665	$	1,276,591	$	540,499	$	754,621	$	6,253,234	100	%
> 90 days and accruing	$	0	$	0	$	0	$	0	$	0	$	0	$	0	$	0	0	%

Impaired Financing Receivables [Table Text Block]

Sterling considers its nonperforming loans to be impaired loans. The following table summarizes impaired loans by class as of March 31, 2013 and December 31, 2012:

					Book Balance
	Unpaid Principal Balance		Charge-Offs		Without Specific Reserve		With Specific Reserve		Specific Reserve
	(in thousands)
March 31, 2013
Residential real estate	$	47,967	$	5,139	$	42,517	$	311	$	311
CRE:
Investor CRE	50,451		6,204		34,451		9,796		3,005
Multifamily	5,562		737		3,575		1,250		219
Construction	31,541		14,335		11,584		5,622		1,084
Total CRE	87,554		21,276		49,610		16,668		4,308
Commercial:
Owner Occupied CRE	71,229		8,508		44,935		17,786		5,107
C&I	17,223		12,010		5,213		0		0
Total commercial	88,452		20,518		50,148		17,786		5,107
Consumer	6,509		418		6,091		0		0
Total	$	230,482	$	47,351	$	148,366	$	34,765	$	9,726
					Book Balance
	Unpaid Principal Balance		Charge-Offs		Without Specific Reserve		With Specific Reserve		Specific Reserve
	(in thousands)
December 31, 2012
Residential real estate	$	49,816	$	6,391	$	43,060	$	365	$	365
CRE:
Investor CRE	59,099		8,366		33,540		17,193		2,697
Multifamily	9,554		1,405		6,873		1,276		219
Construction	31,040		14,345		15,421		1,274		266
Total CRE	99,693		24,116		55,834		19,743		3,182
Commercial:
Owner Occupied CRE	61,300		6,452		42,075		12,773		4,916
C&I	16,959		12,725		4,234		0		0
Total commercial	78,259		19,177		46,309		12,773		4,916
Consumer	7,671		426		7,245		0		0
Total	$	235,439	$	50,110	$	152,448	$	32,881	$	8,463

he following table presents the average book balance and interest income recognized for impaired loans by class for the periods presented:

	Three Months Ended March 31,
	2013				2012
	Average Book Balance		Interest Income Recognized		Average Book Balance		Interest Income Recognized
	(in thousands)
Residential real estate	$	43,127	$	152	$	46,157	$	244
Investor CRE	47,490		347		49,703		582
Multifamily	6,487		35		6,519		95
Construction	16,951		1,701		89,477		852
Owner Occupied CRE	58,785		394		73,771		778
C&I	4,723		34		12,288		29
Consumer	6,668		5		5,517		0
Total	$	184,231	$	2,668	$	283,432	$	2,580

Troubled Debt Restructurings on Financing Receivables [Table Text Block]

The following tables present loans that were modified and recorded as troubled debt restructurings (“TDR’s”) during the following period:

	Three Months Ended March 31,
	2013					2012
	Number of Contracts	Pre-Modification Recorded Investment		Post-Modification Recorded Investment		Number of Contracts	Pre-Modification Recorded Investment	Post-Modification Recorded Investment
	(in thousands, except number of contracts)
Residential real estate	9	$	2,134	$	1,929	4	1,041	1,040
Investor CRE	3	1,482		1,180		1	1,302	1,302
Multifamily	0	0		0		1	1,612	1,611
Construction	0	0		0		1	2,692	2,692
Owner Occupied CRE	3	2,432		2,414		3	6,632	6,624
C&I	0	0		0		4	1,988	706
Consumer	0	0		0		0	0	0
Total (1)	15	$	6,048	$	5,523	14	15,267	13,975

(1) Amounts exclude specific loan loss reserves.

Schedule of Post-Modification Investments in Troubled Debt Restructings [Table Text Block]

The following table shows the post-modification recorded investment by class for TDRs restructured during the periods presented by the primary type of concession granted:

	Principal Deferral		Rate Reduction		Extension of Terms		Forgiveness of Principal and/or Interest		Total
Three Months Ended March 31, 2013	(in thousands)
Residential Real Estate	$	0	$	1,395	$	203	$	331	$	1,929
Investor CRE	0		1,139		0		41		1,180
Multifamily	0		0		0		0		0
Construction	0		0		0		0		0
Owner CRE	730		1,684		0		0		2,414
C&I	0		0		0		0		0
Consumer	0		0		0		0		0
Total	$	730	$	4,218	$	203	$	372	$	5,523
Three Months Ended March 31, 2012
Residential Real Estate	$	407	$	633	$	0	$	0	$	1,040
Investor CRE	0		1,302		0		0		1,302
Multifamily	0		1,611		0		0		1,611
Construction	0		0		2,692		0		2,692
Owner CRE	0		6,624		0		0		6,624
C&I	0		0		0		706		706
Consumer	0		0		0		0		0
Total	$	407	$	10,170	$	2,692	$	706	$	13,975