Allowances for Loan Losses (Tables)

9 Months Ended

Sep. 30, 2013

Activity in Allowance for Loan Losses

The following tables provide additional information regarding the Company’s allowances for losses on covered and non-covered loans by segment (i.e., mortgage and other), based upon the method of evaluating loan impairment:

(in thousands)	Mortgage			Other			Total
Allowance for Loan Losses at September 30, 2013:
Loans individually evaluated for impairment		$	828		$	--		$	828
Loans collectively evaluated for impairment			124,821			15,665			140,486
Acquired loans with deteriorated credit quality			59,926			9,971			69,897
Total		$	185,575		$	25,636		$	211,211

(in thousands)	Mortgage			Other			Total
Allowance for Loan Losses at December 31, 2012:
Loans individually evaluated for impairment		$	1,486		$	1,199		$	2,685
Loans collectively evaluated for impairment			126,448			11,815			138,263
Acquired loans with deteriorated credit quality			32,593			18,718			51,311
Total		$	160,527		$	31,732		$	192,259

Additional Information Regarding Methods Used to Evaluate Loan Portfolio for Impairment

The following tables provide additional information, by segment, regarding the methods used to evaluate the Company’s loan portfolio for impairment:

(in thousands)	Mortgage			Other			Total
Loans Receivable at September 30, 2013:
Loans individually evaluated for impairment		$	133,469		$	6,391		$	139,860
Loans collectively evaluated for impairment			28,189,128			828,884			29,018,012
Acquired loans with deteriorated credit quality			2,631,042			267,761			2,898,803
Total		$	30,953,639		$	1,103,036		$	32,056,675

(in thousands)	Mortgage			Other			Total
Loans Receivable at December 31, 2012:
Loans individually evaluated for impairment		$	309,694		$	17,702		$	327,396
Loans collectively evaluated for impairment			26,324,088			622,223			26,946,311
Acquired loans with deteriorated credit quality			2,976,067			307,994			3,284,061
Total		$	29,609,849		$	947,919		$	30,557,768

Additional Information Regarding Impaired Non-Covered Loans

The following table presents additional information regarding the Company’s impaired non-covered loans at September 30, 2013:

(in thousands)	Recorded   Investment			Unpaid   Principal   Balance			Related   Allowance			Average Recorded   Investment			Interest Income   Recognized
Impaired loans with no related allowance:
Multi-family		$	85,843		$	96,852		$	--		$	130,020		$	1,991
Commercial real estate			42,126			46,770			--			47,882			1,604
One-to-four family			--			--			--			367			--
Acquisition, development, and construction			2,451			2,451			--			4,815			89
Commercial and industrial			6,391			22,702			--			6,855			366
Total impaired loans with no related allowance		$	136,811		$	168,775		$	--		$	189,939		$	4,050
Impaired loans with an allowance recorded:
Multi-family		$	3,049		$	3,049		$	828		$	3,256		$	--
Commercial real estate			--			--			--			1,200			--
One-to-four family			--			--			--			--			--
Acquisition, development, and construction			--			--			--			--			--
Commercial and industrial			--			--			--			--			--
Total impaired loans with an allowance recorded		$	3,049		$	3,049		$	828		$	4,456		$	--
Total impaired loans:
Multi-family		$	88,892		$	99,901		$	828		$	133,276		$	1,991
Commercial real estate			42,126			46,770			--			49,082			1,604
One-to-four family			--			--			--			367			--
Acquisition, development, and construction			2,451			2,451			--			4,815			89
Commercial and industrial			6,391			22,702			--			6,855			366
Total impaired loans		$	139,860		$	171,824		$	828		$	194,395		$	4,050

The following table presents additional information regarding the Company’s impaired non-covered loans at December 31, 2012:

(in thousands)	Recorded   Investment			Unpaid   Principal   Balance			Related   Allowance			Average Recorded   Investment			Interest Income   Recognized
Impaired loans with no related allowance:
Multi-family		$	193,500		$	211,329		$	--		$	189,510		$	4,929
Commercial real estate			80,453			81,134			--			72,271			1,705
One-to-four family			1,101			1,147			--			1,114			--
Acquisition, development, and construction			10,203			14,297			--			20,954			790
Commercial and industrial			10,564			14,679			--			10,021			380
Total impaired loans with no related allowance		$	295,821		$	322,586		$	--		$	293,870		$	7,804
Impaired loans with an allowance recorded:
Multi-family		$	20,307		$	21,620		$	1,055		$	27,894		$	802
Commercial real estate			2,914			2,940			402			3,693			98
One-to-four family			--			--			--			--			--
Acquisition, development, and construction			1,216			1,494			29			1,877			--
Commercial and industrial			7,138			10,252			1,199			1,785			1,405
Total impaired loans with an allowance recorded		$	31,575		$	36,306		$	2,685		$	35,249		$	2,305
Total impaired loans:
Multi-family		$	213,807		$	232,949		$	1,055		$	217,404		$	5,731
Commercial real estate			83,367			84,074			402			75,964			1,803
One-to-four family			1,101			1,147			--			1,114			--
Acquisition, development, and construction			11,419			15,791			29			22,831			790
Commercial and industrial			17,702			24,931			1,199			11,806			1,785
Total impaired loans		$	327,396		$	358,892		$	2,685		$	329,119		$	10,109

Non-Covered Loans

Activity in Allowance for Loan Losses

The following table summarizes activity in the allowance for losses on non-covered loans, by segment, for the nine months ended September 30, 2013 and 2012:

	For the Nine Months Ended September 30,
	2013						2012
(in thousands)	Mortgage		Other		Total		Mortgage		Other		Total
Balance, beginning of period		$127,934		$13,014		$140,948		$121,995		$15,295		$137,290
Charge-offs		(12,716)		(7,039)		(19,755)		(35,542)		(6,217)		(41,759)
Recoveries		3,580		1,541		5,121		735		2,749		3,484
Provision for losses on non-covered loans		6,851		8,149		15,000		38,506		1,494		40,000
Balance, end of period		$125,649		$15,665		$141,314		$125,694		$13,321		$139,015

Covered Loans

Activity in Allowance for Loan Losses

The following table summarizes activity in the allowance for losses on covered loans for the nine months ended September 30, 2013 and 2012:

	For the Nine Months Ended September 30,
(in thousands)	2013			2012
Balance, beginning of period		$	51,311		$	51,771
Provision for covered loan losses			18,586			2,820
Balance, end of period		$	69,897		$	54,591