Allowances for Loan Losses (Tables)

12 Months Ended

Dec. 31, 2015

Activity in Allowance for Loan Losses

The following tables provide additional information regarding the Company’s allowances for losses on non-covered loans and covered loans, based upon the method of evaluating loan impairment:

(in thousands)	Mortgage		Other		Total
Allowances for Loan Losses at December 31, 2015:
Loans individually evaluated for impairment	$	—	$	—	$	—
Loans collectively evaluated for impairment		122,712		22,484		145,196
Acquired loans with deteriorated credit quality		14,583		18,740		33,323
Total	$	137,295	$	41,224	$	178,519

(in thousands)	Mortgage		Other		Total
Allowances for Loan Losses at December 31, 2014:
Loans individually evaluated for impairment	$	26	$	—	$	26
Loans collectively evaluated for impairment		122,590		17,241		139,831
Acquired loans with deteriorated credit quality		23,538		21,943		45,481
Total	$	146,154	$	39,184	$	185,338

Additional Information Regarding Methods Used to Evaluate Loan Portfolio for Impairment

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

(in thousands)	Mortgage		Other		Total
Loans Receivable at December 31, 2015:
Loans individually evaluated for impairment	$	47,480	$	4,474	$	51,954
Loans collectively evaluated for impairment		34,209,870		1,470,321		35,680,191
Acquired loans with deteriorated credit quality		1,924,255		144,178		2,068,433
Total	$	36,181,605	$	1,618,973	$	37,800,578

(in thousands)	Mortgage		Other		Total
Loans Receivable at December 31, 2014:
Loans individually evaluated for impairment	$	81,574	$	6,806	$	88,380
Loans collectively evaluated for impairment		31,781,623		1,134,358		32,915,981
Acquired loans with deteriorated credit quality		2,227,572		201,050		2,428,622
Total	$	34,090,769	$	1,342,214	$	35,432,983

Additional Information Regarding Impaired Non-Covered Loans

The following table presents additional information about the Company’s impaired non-covered loans at December 31, 2015:

(in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
Impaired loans with no related allowance:
Multi-family	$	27,464	$	29,379	$	—	$	30,965	$	1,320
Commercial real estate		13,995		15,480		—		25,066		383
One-to-four family		3,384		8,929		—		2,302		75
Acquisition, development, and construction		2,637		3,035		—		1,086		148
Other		4,474		4,794		—		8,386		118
Total impaired loans with no related allowance	$	51,954	$	61,617	$	—	$	67,805	$	2,044
Impaired loans with an allowance recorded:
Multi-family	$	—	$	—	$	—	$	—	$	—
Commercial real estate		—		—		—		—		—
One-to-four family		—		—		—		—		—
Acquisition, development, and construction		—		—		—		—		—
Other		—		—		—		—		—
Total impaired loans with an allowance recorded	$	—	$	—	$	—	$	—	$	—
Total impaired loans:
Multi-family	$	27,464	$	29,379	$	—	$	30,965	$	1,320
Commercial real estate		13,995		15,480		—		25,066		383
One-to-four family		3,384		8,929		—		2,302		75
Acquisition, development, and construction		2,637		3,035		—		1,086		148
Other		4,474		4,794		—		8,386		118
Total impaired loans	$	51,954	$	61,617	$	—	$	67,805	$	2,044

The following table presents additional information about the Company’s impaired non-covered loans at December 31, 2014:

(in thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
Impaired loans with no related allowance:
Multi-family	$	45,383	$	52,593	$	—	$	54,051	$	1,636
Commercial real estate		30,370		32,460		—		29,935		1,629
One-to-four family		2,028		2,069		—		1,254		—
Acquisition, development, and construction		654		1,024		—		505		218
Commercial and industrial		6,806		12,155		—		7,749		307
Total impaired loans with no related allowance	$	85,241	$	100,301	$	—	$	93,494	$	3,790
Impaired loans with an allowance recorded:
Multi-family	$	3,139	$	3,139	$	26	$	628	$	72
Commercial real estate		—		—		—		490		—
One-to-four family		—		—		—		61		—
Acquisition, development, and construction		—		—		—		—		—
Commercial and industrial		—		—		—		—		—
Total impaired loans with an allowance recorded	$	3,139	$	3,139	$	26	$	1,179	$	72
Total impaired loans:
Multi-family	$	48,522	$	55,732	$	26	$	54,679	$	1,708
Commercial real estate		30,370		32,460		—		30,425		1,629
One-to-four family		2,028		2,069		—		1,315		—
Acquisition, development, and construction		654		1,024		—		505		218
Commercial and industrial		6,806		12,155		—		7,749		307
Total impaired loans	$	88,380	$	103,440	$	26	$	94,673	$	3,862

Non-Covered Loans

Activity in Allowance for Loan Losses

The following table summarizes activity in the allowance for losses on non-covered loans for the twelve months ended December 31, 2015 and 2014:

	December 31,
	2015									2014
(in thousands)	Mortgage			Other			Total			Mortgage			Other			Total
Balance, beginning of period	$	122,616		$	17,241		$	139,857		$	123,991		$	17,955		$	141,946
Charge-offs		(1,315	)		(1,273	)		(2,588	)		(2,780	)		(5,296	)		(8,076	)
Recoveries		5,765			5,008			10,773			1,405			4,582			5,987
Transfer from the allowance for losses on covered loans (1)		2,250			166			2,416			—			—			—
(Recovery of) provision for non-covered loan losses		(4,838	)		1,504			(3,334	)		—			—			—
Balance, end of period	$	124,478		$	22,646		$	147,124		$	122,616		$	17,241		$	139,857

(1) Represents the allowance associated with $14.2 million of loans acquired in the Desert Hills transaction that were transferred from covered loans to non-covered loans upon expiration of the related FDIC loss sharing agreement in March 2015.

Covered Loans

Activity in Allowance for Loan Losses

The following table summarizes activity in the allowance for losses on covered loans for the years ended December 31, 2015 and 2014:

	December 31,
(in thousands)	2015			2014
Balance, beginning of period	$	45,481		$	64,069
Recovery of losses on covered loans		(11,670	)		(18,588	)
Transfer to the allowance for losses on covered loans(1)		(2,416	)		—
Balance, end of period	$	31,395		$	45,481

(1) Represents the allowance associated with $14.2 million of loans acquired in the Desert Hills transaction that were transferred from covered loans to non-covered loans upon expiration of the related FDIC loss sharing agreement in March 2015.