Loans (Tables)
|
6 Months Ended |
Jun. 30, 2015 |
|---|
| Loans Receivable |
Loans receivable consisted of the following as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
June 30, 2015 |
|
December 31, 2014 |
|
Non-PCI Loans |
|
PCI Loans |
|
Total |
|
Non-PCI Loans |
|
PCI Loans |
|
Total |
|
(in thousands) |
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial property (1)
|
|
|
|
|
|
|
|
|
|
|
|
Retail |
$ |
690,097 |
|
|
$ |
9,358 |
|
|
$ |
699,455 |
|
|
$ |
675,072 |
|
|
$ |
10,343 |
|
|
$ |
685,415 |
|
Hospitality |
492,289 |
|
|
10,345 |
|
|
502,634 |
|
|
454,499 |
|
|
12,862 |
|
|
467,361 |
|
Gas station |
337,566 |
|
|
5,955 |
|
|
343,521 |
|
|
362,240 |
|
|
7,745 |
|
|
369,985 |
|
Other |
840,735 |
|
|
5,885 |
|
|
846,620 |
|
|
842,126 |
|
|
10,680 |
|
|
852,806 |
|
Construction |
21,310 |
|
|
— |
|
|
21,310 |
|
|
9,517 |
|
|
— |
|
|
9,517 |
|
Residential property |
171,071 |
|
|
2,055 |
|
|
173,126 |
|
|
120,932 |
|
|
2,499 |
|
|
123,431 |
|
Total real estate loans |
2,553,068 |
|
|
33,598 |
|
|
2,586,666 |
|
|
2,464,386 |
|
|
44,129 |
|
|
2,508,515 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial term |
111,676 |
|
|
267 |
|
|
111,943 |
|
|
116,073 |
|
|
327 |
|
|
116,400 |
|
Commercial lines of credit |
115,382 |
|
|
— |
|
|
115,382 |
|
|
93,860 |
|
|
— |
|
|
93,860 |
|
International loans |
33,864 |
|
|
— |
|
|
33,864 |
|
|
38,929 |
|
|
— |
|
|
38,929 |
|
Total commercial and industrial loans |
260,922 |
|
|
267 |
|
|
261,189 |
|
|
248,862 |
|
|
327 |
|
|
249,189 |
|
Consumer loans |
26,274 |
|
|
43 |
|
|
26,317 |
|
|
27,512 |
|
|
45 |
|
|
27,557 |
|
Total gross loans |
2,840,264 |
|
|
33,908 |
|
|
2,874,172 |
|
|
2,740,760 |
|
|
44,501 |
|
|
2,785,261 |
|
Allowance for loans losses |
(49,468 |
) |
|
(1,352 |
) |
|
(50,820 |
) |
|
(51,640 |
) |
|
(1,026 |
) |
|
(52,666 |
) |
Deferred loan costs |
2,734 |
|
|
— |
|
|
2,734 |
|
|
3,237 |
|
|
— |
|
|
3,237 |
|
Loans receivable, net |
$ |
2,793,530 |
|
|
$ |
32,556 |
|
|
$ |
2,826,086 |
|
|
$ |
2,692,357 |
|
|
$ |
43,475 |
|
|
$ |
2,735,832 |
|
|
|
(1) |
Includes owner-occupied property loans of $1.16 billion and $1.12 billion as of June 30, 2015 and December 31, 2014, respectively.
|
|
| Loans Receivable to Loans Held for Sale |
The following table details the information on the sales and reclassifications of loans receivable to loans held for sale (excluding PCI loans) by portfolio segment for the three months ended June 30, 2015 and 2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
Commercial and Industrial |
|
Consumer |
|
Total Non-PCI |
|
(in thousands) |
June 30, 2015 |
|
|
|
|
|
|
|
Balance at beginning of period |
$ |
7,226 |
|
|
$ |
1,451 |
|
|
$ |
— |
|
|
$ |
8,677 |
|
Origination of loans held for sale |
6,807 |
|
|
8,027 |
|
|
— |
|
|
14,834 |
|
Reclassification from loans receivable to loans held for sale |
360 |
|
|
— |
|
|
— |
|
|
360 |
|
Sales of loans held for sale |
(12,321 |
) |
|
(7,368 |
) |
|
— |
|
|
(19,689 |
) |
Principal payoffs and amortization |
(5 |
) |
|
(19 |
) |
|
— |
|
|
(24 |
) |
Balance at end of period |
$ |
2,067 |
|
|
$ |
2,091 |
|
|
$ |
— |
|
|
$ |
4,158 |
|
June 30, 2014 |
|
|
|
|
|
|
|
Balance at beginning of period |
$ |
390 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
390 |
|
Origination of loans held for sale |
8,124 |
|
|
2,091 |
|
|
— |
|
|
10,215 |
|
Sales of loans held for sale |
(5,944 |
) |
|
(815 |
) |
|
— |
|
|
(6,759 |
) |
Principal payoffs and amortization |
(2 |
) |
|
(2 |
) |
|
— |
|
|
(4 |
) |
Balance at end of period |
$ |
2,568 |
|
|
$ |
1,274 |
|
|
$ |
— |
|
|
$ |
3,842 |
|
The following table details the information on the sales and reclassifications of loans receivable to loans held for sale (excluding PCI loans) by portfolio segment for the six months ended June 30, 2015 and 2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
Commercial and Industrial |
|
Consumer |
|
Total Non-PCI |
|
(in thousands) |
June 30, 2015 |
|
|
|
|
|
|
|
Balance at beginning of period |
$ |
3,323 |
|
|
$ |
2,128 |
|
|
$ |
— |
|
|
$ |
5,451 |
|
Origination of loans held for sale |
23,734 |
|
|
14,208 |
|
|
— |
|
|
37,942 |
|
Reclassification from loans receivable to loans held for sale |
360 |
|
|
— |
|
|
— |
|
|
360 |
|
Sales of loans held for sale |
(25,335 |
) |
|
(14,208 |
) |
|
— |
|
|
(39,543 |
) |
Principal payoffs and amortization |
(15 |
) |
|
(37 |
) |
|
— |
|
|
(52 |
) |
Balance at end of period |
$ |
2,067 |
|
|
$ |
2,091 |
|
|
$ |
— |
|
|
$ |
4,158 |
|
June 30, 2014 |
|
|
|
|
|
|
|
Balance at beginning of period |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Origination of loans held for sale |
14,393 |
|
|
2,176 |
|
|
— |
|
|
16,569 |
|
Sales of loans held for sale |
(11,818 |
) |
|
(899 |
) |
|
— |
|
|
(12,717 |
) |
Principal payoffs and amortization |
(7 |
) |
|
(3 |
) |
|
— |
|
|
(10 |
) |
Balance at end of period |
$ |
2,568 |
|
|
$ |
1,274 |
|
|
$ |
— |
|
|
$ |
3,842 |
|
|
| Allowance for Non-PCI Losses and Allowance for Off-Balance Sheet Items |
Activity in the allowance for loan losses and allowance for off-balance sheet items was as follows for the periods indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of and for the
Three Months Ended
|
|
As of and for the
Six Months Ended
|
|
June 30, 2015 |
|
June 30, 2014 |
|
June 30, 2015 |
|
June 30, 2014 |
|
Non-PCI Loans |
|
PCI Loans |
|
Total |
|
|
Non-PCI Loans |
|
PCI Loans |
|
Total |
|
|
(in thousands) |
Allowance for loan losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of period |
$ |
51,515 |
|
|
$ |
1,436 |
|
|
$ |
52,951 |
|
|
$ |
56,593 |
|
|
$ |
51,640 |
|
|
$ |
1,026 |
|
|
$ |
52,666 |
|
|
$ |
57,555 |
|
Charge-offs |
(1,221 |
) |
|
52 |
|
|
(1,169 |
) |
|
(2,547 |
) |
|
(1,255 |
) |
|
— |
|
|
(1,255 |
) |
|
(4,151 |
) |
Recoveries on loans previously charged off |
1,793 |
|
|
(352 |
) |
|
1,441 |
|
|
1,741 |
|
|
3,485 |
|
|
— |
|
|
3,485 |
|
|
5,992 |
|
Net loan recoveries (charge-offs) |
572 |
|
|
(300 |
) |
|
272 |
|
|
(806 |
) |
|
2,230 |
|
|
— |
|
|
2,230 |
|
|
1,841 |
|
(Negative provision) provision charged to operating expense |
(2,619 |
) |
|
216 |
|
|
(2,403 |
) |
|
(3,901 |
) |
|
(4,402 |
) |
|
$ |
326 |
|
|
(4,076 |
) |
|
(7,510 |
) |
Balance at end of period |
$ |
49,468 |
|
|
$ |
1,352 |
|
|
$ |
50,820 |
|
|
$ |
51,886 |
|
|
$ |
49,468 |
|
|
$ |
1,352 |
|
|
$ |
50,820 |
|
|
$ |
51,886 |
|
Allowance for off-balance sheet items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of period |
$ |
1,054 |
|
|
$ |
— |
|
|
$ |
1,054 |
|
|
$ |
1,557 |
|
|
$ |
1,366 |
|
|
$ |
— |
|
|
$ |
1,366 |
|
|
$ |
1,248 |
|
(Negative provision) provision charged to operating expense |
(92 |
) |
|
— |
|
|
(92 |
) |
|
35 |
|
|
(404 |
) |
|
$ |
— |
|
|
(404 |
) |
|
344 |
|
Balance at end of period |
$ |
962 |
|
|
$ |
— |
|
|
$ |
962 |
|
|
$ |
1,592 |
|
|
$ |
962 |
|
|
$ |
— |
|
|
$ |
962 |
|
|
$ |
1,592 |
|
|
| Allowance for Loan Losses by Portfolio Segment |
The following table details the information on the allowance for loan losses by portfolio segment for the three months ended June 30, 2015 and 2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
Commercial and Industrial |
|
Consumer |
|
Unallocated |
|
Total |
|
(in thousands) |
June 30, 2015 |
|
|
|
|
|
|
|
|
|
Allowance for loan losses: |
|
|
|
|
|
|
|
|
|
Beginning balance |
$ |
42,550 |
|
|
$ |
7,786 |
|
|
$ |
185 |
|
|
$ |
994 |
|
|
$ |
51,515 |
|
Charge-offs |
(101 |
) |
|
(1,120 |
) |
|
— |
|
|
— |
|
|
(1,221 |
) |
Recoveries on loans previously charged off |
1,263 |
|
|
530 |
|
|
— |
|
|
— |
|
|
1,793 |
|
(Negative provision) provision |
(3,814 |
) |
|
1,049 |
|
|
(13 |
) |
|
159 |
|
|
(2,619 |
) |
Ending balance |
$ |
39,898 |
|
|
$ |
8,245 |
|
|
$ |
172 |
|
|
$ |
1,153 |
|
|
$ |
49,468 |
|
Ending balance: individually evaluated for impairment |
$ |
3,798 |
|
|
$ |
1,503 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
5,301 |
|
Ending balance: collectively evaluated for impairment |
$ |
36,100 |
|
|
$ |
6,742 |
|
|
$ |
172 |
|
|
$ |
1,153 |
|
|
$ |
44,167 |
|
Loans receivable: |
|
|
|
|
|
|
|
|
|
Ending balance |
$ |
2,553,068 |
|
|
$ |
260,922 |
|
|
$ |
26,274 |
|
|
$ |
— |
|
|
$ |
2,840,264 |
|
Ending balance: individually evaluated for impairment |
$ |
32,795 |
|
|
$ |
10,401 |
|
|
$ |
1,807 |
|
|
$ |
— |
|
|
$ |
45,003 |
|
Ending balance: collectively evaluated for impairment |
$ |
2,520,273 |
|
|
$ |
250,521 |
|
|
$ |
24,467 |
|
|
$ |
— |
|
|
$ |
2,795,261 |
|
Allowance for loan losses on PCI loans: |
|
|
|
|
|
|
|
|
|
Beginning balance |
$ |
1,318 |
|
|
$ |
118 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,436 |
|
Charge-offs |
52 |
|
|
— |
|
|
— |
|
|
— |
|
|
52 |
|
Recoveries on loans previously charged off |
$ |
— |
|
|
(352 |
) |
|
— |
|
|
— |
|
|
(352 |
) |
Provision |
(81 |
) |
|
297 |
|
|
— |
|
|
— |
|
|
216 |
|
Ending balance: acquired with deteriorated credit quality |
$ |
1,289 |
|
|
$ |
63 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,352 |
|
PCI loans receivable: |
|
|
|
|
|
|
|
|
|
Ending balance: acquired with deteriorated credit quality |
$ |
33,598 |
|
|
$ |
267 |
|
|
$ |
43 |
|
|
$ |
— |
|
|
$ |
33,908 |
|
June 30, 2014 |
|
|
|
|
|
|
|
|
|
Allowance for loan losses on Non-PCI loans: |
|
|
|
|
|
|
|
|
|
Beginning balance |
$ |
44,230 |
|
|
$ |
10,425 |
|
|
$ |
633 |
|
|
$ |
1,305 |
|
|
$ |
56,593 |
|
Charge-offs |
(60 |
) |
|
(2,474 |
) |
|
(13 |
) |
|
— |
|
|
(2,547 |
) |
Recoveries on loans previously charged off |
87 |
|
|
1,652 |
|
|
2 |
|
|
— |
|
|
1,741 |
|
(Negative provision) provision |
(3,954 |
) |
|
135 |
|
|
(82 |
) |
|
— |
|
|
(3,901 |
) |
Ending balance |
$ |
40,303 |
|
|
$ |
9,738 |
|
|
$ |
540 |
|
|
$ |
1,305 |
|
|
$ |
51,886 |
|
Ending balance: individually evaluated for impairment |
$ |
2,448 |
|
|
$ |
2,605 |
|
|
$ |
113 |
|
|
$ |
— |
|
|
$ |
5,166 |
|
Ending balance: collectively evaluated for impairment |
$ |
37,855 |
|
|
$ |
7,133 |
|
|
$ |
427 |
|
|
$ |
1,305 |
|
|
$ |
46,720 |
|
Non-PCI loans receivable: |
|
|
|
|
|
|
|
|
|
Ending balance |
$ |
2,090,083 |
|
|
$ |
230,309 |
|
|
$ |
28,843 |
|
|
$ |
— |
|
|
$ |
2,349,235 |
|
Ending balance: individually evaluated for impairment |
$ |
35,616 |
|
|
$ |
10,741 |
|
|
$ |
1,529 |
|
|
$ |
— |
|
|
$ |
47,886 |
|
Ending balance: collectively evaluated for impairment |
$ |
2,054,467 |
|
|
$ |
219,568 |
|
|
$ |
27,314 |
|
|
$ |
— |
|
|
$ |
2,301,349 |
|
The following table details the information on the allowance for loan losses by portfolio segment for the six months ended June 30, 2015 and 2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
Commercial and Industrial |
|
Consumer |
|
Unallocated |
|
Total |
|
(in thousands) |
June 30, 2015 |
|
|
|
|
|
|
|
|
|
Allowance for loan losses: |
|
|
|
|
|
|
|
|
|
Beginning balance |
$ |
41,194 |
|
|
$ |
9,142 |
|
|
$ |
220 |
|
|
$ |
1,084 |
|
|
$ |
51,640 |
|
Charge-offs |
(101 |
) |
|
(1,154 |
) |
|
— |
|
|
— |
|
|
(1,255 |
) |
Recoveries on loans previously charged off |
1,295 |
|
|
2,190 |
|
|
— |
|
|
— |
|
|
3,485 |
|
(Negative provision) provision |
(2,490 |
) |
|
(1,933 |
) |
|
(48 |
) |
|
69 |
|
|
(4,402 |
) |
Ending balance |
$ |
39,898 |
|
|
$ |
8,245 |
|
|
$ |
172 |
|
|
$ |
1,153 |
|
|
$ |
49,468 |
|
Ending balance: individually evaluated for impairment |
$ |
3,798 |
|
|
$ |
1,503 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
5,301 |
|
Ending balance: collectively evaluated for impairment |
$ |
36,100 |
|
|
$ |
6,742 |
|
|
$ |
172 |
|
|
$ |
1,153 |
|
|
$ |
44,167 |
|
Loans receivable: |
|
|
|
|
|
|
|
|
|
Ending balance |
$ |
2,553,068 |
|
|
$ |
260,922 |
|
|
$ |
26,274 |
|
|
$ |
— |
|
|
$ |
2,840,264 |
|
Ending balance: individually evaluated for impairment |
$ |
32,795 |
|
|
$ |
10,401 |
|
|
$ |
1,807 |
|
|
$ |
— |
|
|
$ |
45,003 |
|
Ending balance: collectively evaluated for impairment |
$ |
2,520,273 |
|
|
$ |
250,521 |
|
|
$ |
24,467 |
|
|
$ |
— |
|
|
$ |
2,795,261 |
|
Allowance for loan losses on PCI loans: |
|
|
|
|
|
|
|
|
|
Beginning balance |
$ |
895 |
|
|
$ |
131 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,026 |
|
Provision |
394 |
|
|
(68 |
) |
|
— |
|
|
— |
|
|
326 |
|
Ending balance: acquired with deteriorated credit quality |
$ |
1,289 |
|
|
$ |
63 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,352 |
|
PCI loans receivable: |
|
|
|
|
|
|
|
|
|
Ending balance: acquired with deteriorated credit quality |
$ |
33,598 |
|
|
$ |
267 |
|
|
$ |
43 |
|
|
$ |
— |
|
|
$ |
33,908 |
|
June 30, 2014 |
|
|
|
|
|
|
|
|
|
Allowance for loan losses on Non-PCI loans: |
|
|
|
|
|
|
|
|
|
Beginning balance |
$ |
43,550 |
|
|
$ |
11,287 |
|
|
$ |
1,427 |
|
|
$ |
1,291 |
|
|
$ |
57,555 |
|
Charge-offs |
(1,188 |
) |
|
(2,896 |
) |
|
(67 |
) |
|
— |
|
|
(4,151 |
) |
Recoveries on loans previously charged off |
3,005 |
|
|
2,973 |
|
|
14 |
|
|
— |
|
|
5,992 |
|
(Negative provision) provision |
(5,064 |
) |
|
(1,626 |
) |
|
(834 |
) |
|
14 |
|
|
(7,510 |
) |
Ending balance |
$ |
40,303 |
|
|
$ |
9,738 |
|
|
$ |
540 |
|
|
$ |
1,305 |
|
|
$ |
51,886 |
|
Ending balance: individually evaluated for impairment |
$ |
2,448 |
|
|
$ |
2,605 |
|
|
$ |
113 |
|
|
$ |
— |
|
|
$ |
5,166 |
|
Ending balance: collectively evaluated for impairment |
$ |
37,855 |
|
|
$ |
7,133 |
|
|
$ |
427 |
|
|
$ |
1,305 |
|
|
$ |
46,720 |
|
Non-PCI loans receivable: |
|
|
|
|
|
|
|
|
|
Ending balance |
$ |
2,090,083 |
|
|
$ |
230,309 |
|
|
$ |
28,843 |
|
|
$ |
— |
|
|
$ |
2,349,235 |
|
Ending balance: individually evaluated for impairment |
$ |
35,616 |
|
|
$ |
10,741 |
|
|
$ |
1,529 |
|
|
$ |
— |
|
|
$ |
47,886 |
|
Ending balance: collectively evaluated for impairment |
$ |
2,054,467 |
|
|
$ |
219,568 |
|
|
$ |
27,314 |
|
|
$ |
— |
|
|
$ |
2,301,349 |
|
|
| Information on Impaired Loans, Disaggregated by Loan Class |
The following tables provide information on impaired loans (excluding PCI loans), disaggregated by loan class, as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recorded
Investment
|
|
Unpaid
Principal
Balance
|
|
With No
Related
Allowance
Recorded
|
|
With an
Allowance
Recorded
|
|
Related
Allowance
|
|
(in thousands) |
June 30, 2015 |
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
Retail |
$ |
3,223 |
|
|
$ |
3,485 |
|
|
$ |
3,046 |
|
|
$ |
177 |
|
|
$ |
42 |
|
Hospitality |
7,109 |
|
|
7,796 |
|
|
5,329 |
|
|
1,780 |
|
|
3,276 |
|
Gas station |
8,538 |
|
|
9,299 |
|
|
8,104 |
|
|
434 |
|
|
127 |
|
Other |
11,247 |
|
|
12,893 |
|
|
9,783 |
|
|
1,464 |
|
|
353 |
|
Residential property |
2,678 |
|
|
2,843 |
|
|
2,678 |
|
|
— |
|
|
— |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
Commercial term |
7,055 |
|
|
7,492 |
|
|
3,640 |
|
|
3,415 |
|
|
1,481 |
|
Commercial lines of credit |
2,064 |
|
|
2,186 |
|
|
417 |
|
|
1,647 |
|
|
5 |
|
International loans |
1,282 |
|
|
1,282 |
|
|
597 |
|
|
685 |
|
|
17 |
|
Consumer loans |
1,807 |
|
|
2,004 |
|
|
1,807 |
|
|
— |
|
|
— |
|
Total Non-PCI loans |
$ |
45,003 |
|
|
$ |
49,280 |
|
|
$ |
35,401 |
|
|
$ |
9,602 |
|
|
$ |
5,301 |
|
December 31, 2014 |
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
Retail |
$ |
4,436 |
|
|
$ |
4,546 |
|
|
$ |
1,938 |
|
|
$ |
2,498 |
|
|
$ |
220 |
|
Hospitality |
5,835 |
|
|
6,426 |
|
|
4,581 |
|
|
1,254 |
|
|
1,828 |
|
Gas station |
8,974 |
|
|
9,594 |
|
|
8,526 |
|
|
448 |
|
|
150 |
|
Other |
10,125 |
|
|
11,591 |
|
|
8,890 |
|
|
1,235 |
|
|
319 |
|
Residential property |
3,127 |
|
|
3,268 |
|
|
3,127 |
|
|
— |
|
|
— |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
Commercial term |
7,614 |
|
|
8,133 |
|
|
2,999 |
|
|
4,615 |
|
|
2,443 |
|
Commercial lines of credit |
466 |
|
|
575 |
|
|
466 |
|
|
— |
|
|
— |
|
International loans |
3,546 |
|
|
3,546 |
|
|
2,628 |
|
|
918 |
|
|
286 |
|
Consumer loans |
1,742 |
|
|
1,907 |
|
|
1,742 |
|
|
— |
|
|
— |
|
Total Non-PCI loans |
$ |
45,865 |
|
|
$ |
49,586 |
|
|
$ |
34,897 |
|
|
$ |
10,968 |
|
|
$ |
5,246 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Recorded Investment
for the Three Months Ended
|
|
Interest Income Recognized
for the Three Months Ended
|
|
Average Recorded Investment
for the Six Months Ended
|
|
Interest Income Recognized
for the Six Months Ended
|
|
(in thousands) |
June 30, 2015 |
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
Retail |
$ |
4,278 |
|
|
$ |
126 |
|
|
$ |
5,134 |
|
|
$ |
198 |
|
Hospitality |
7,128 |
|
|
118 |
|
|
6,700 |
|
|
300 |
|
Gas station |
8,712 |
|
|
189 |
|
|
8,352 |
|
|
282 |
|
Other |
11,294 |
|
|
196 |
|
|
10,774 |
|
|
404 |
|
Residential property |
2,689 |
|
|
28 |
|
|
2,896 |
|
|
60 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
Commercial term |
7,190 |
|
|
97 |
|
|
7,634 |
|
|
196 |
|
Commercial lines of credit |
2,071 |
|
|
29 |
|
|
2,255 |
|
|
36 |
|
International loans |
1,182 |
|
|
— |
|
|
1,271 |
|
|
— |
|
Consumer loans |
1,812 |
|
|
17 |
|
|
1,821 |
|
|
34 |
|
Total Non-PCI loans |
$ |
46,356 |
|
|
$ |
800 |
|
|
$ |
46,837 |
|
|
$ |
1,510 |
|
June 30, 2014 |
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
Retail |
$ |
5,286 |
|
|
$ |
108 |
|
|
$ |
6,295 |
|
|
$ |
179 |
|
Hospitality |
4,712 |
|
|
80 |
|
|
4,121 |
|
|
129 |
|
Gas station |
12,432 |
|
|
181 |
|
|
10,944 |
|
|
369 |
|
Other |
10,624 |
|
|
228 |
|
|
11,124 |
|
|
451 |
|
Residential property |
2,833 |
|
|
30 |
|
|
2,692 |
|
|
57 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
Commercial term |
9,085 |
|
|
140 |
|
|
10,952 |
|
|
317 |
|
Commercial lines of credit |
713 |
|
|
11 |
|
|
729 |
|
|
25 |
|
International loans |
1,131 |
|
|
— |
|
|
1,130 |
|
|
— |
|
Consumer loans |
1,535 |
|
|
16 |
|
|
1,547 |
|
|
30 |
|
Total Non-PCI loans |
$ |
48,351 |
|
|
$ |
794 |
|
|
$ |
49,534 |
|
|
$ |
1,557 |
|
|
| Summary of Interest Foregone on Impaired Loans |
The following is a summary of interest foregone on impaired loans (excluding PCI loans) for the periods indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Six Months Ended |
|
June 30, 2015 |
|
June 30, 2014 |
|
June 30, 2015 |
|
June 30, 2014 |
|
(in thousands) |
Interest income that would have been recognized had impaired loans performed in accordance with their original terms |
$ |
1,177 |
|
|
$ |
1,215 |
|
|
$ |
1,917 |
|
|
$ |
2,427 |
|
Less: Interest income recognized on impaired loans |
(800 |
) |
|
(794 |
) |
|
(1,510 |
) |
|
(1,557 |
) |
Interest foregone on impaired loans |
$ |
377 |
|
|
$ |
421 |
|
|
$ |
407 |
|
|
$ |
870 |
|
|
| Non-Accrual Loans, Disaggregated by Loan Class |
The following table details nonaccrual loans (excluding PCI loans), disaggregated by loan class, as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
June 30, 2015 |
|
December 31, 2014 |
|
(in thousands) |
Real estate loans: |
|
|
|
Commercial property |
|
|
|
Retail |
$ |
1,599 |
|
|
$ |
2,160 |
|
Hospitality |
6,133 |
|
|
3,835 |
|
Gas station |
5,664 |
|
|
3,478 |
|
Other |
6,404 |
|
|
4,961 |
|
Residential property |
1,141 |
|
|
1,588 |
|
Commercial and industrial loans: |
|
|
|
Commercial term |
5,108 |
|
|
7,052 |
|
Commercial lines of credit |
417 |
|
|
466 |
|
Consumer loans |
1,557 |
|
|
1,742 |
|
Total nonaccrual Non-PCI loans |
$ |
28,023 |
|
|
$ |
25,282 |
|
|
| Non-Performing Assets |
The following table details nonperforming assets (excluding PCI loans) as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
June 30, 2015 |
|
December 31, 2014 |
|
(in thousands) |
Nonaccrual Non-PCI loans |
$ |
28,023 |
|
|
$ |
25,282 |
|
Loans 90 days or more past due and still accruing |
— |
|
|
— |
|
Total nonperforming Non-PCI loans |
28,023 |
|
|
25,282 |
|
OREO |
11,857 |
|
|
15,790 |
|
Total nonperforming assets |
$ |
39,880 |
|
|
$ |
41,072 |
|
|
| Troubled Debt Restructurings, Disaggregated by Type of Concession and by Loan Type |
The following table details TDRs (excluding PCI loans), disaggregated by concession type and by loan type, as of June 30, 2015 and December 31, 2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual TDRs |
|
Accrual TDRs |
|
Deferral
of
Principal
|
|
Deferral
of
Principal
and
Interest
|
|
Reduction
of
Principal
and
Interest
|
|
Extension
of
Maturity
|
|
Total |
|
Deferral
of
Principal
|
|
Deferral
of
Principal
and
Interest
|
|
Reduction
of
Principal
and
Interest
|
|
Extension
of
Maturity
|
|
Total |
|
(in thousands) |
June 30, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
371 |
|
|
$ |
371 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Hospitality |
1,852 |
|
|
(74 |
) |
|
— |
|
|
— |
|
|
1,778 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Gas station |
2,868 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,868 |
|
|
349 |
|
|
— |
|
|
— |
|
|
— |
|
|
349 |
|
Other |
920 |
|
|
1,749 |
|
|
384 |
|
|
16 |
|
|
3,069 |
|
|
2,249 |
|
|
— |
|
|
760 |
|
|
1,370 |
|
|
4,379 |
|
Residential property |
716 |
|
|
— |
|
|
— |
|
|
— |
|
|
716 |
|
|
— |
|
|
— |
|
|
— |
|
|
304 |
|
|
304 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial term |
10 |
|
|
5 |
|
|
2,396 |
|
|
1,557 |
|
|
3,968 |
|
|
49 |
|
|
220 |
|
|
307 |
|
|
1,085 |
|
|
1,661 |
|
Commercial lines of credit |
220 |
|
|
— |
|
|
114 |
|
|
83 |
|
|
417 |
|
|
1,647 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,647 |
|
Consumer loans |
— |
|
|
— |
|
|
123 |
|
|
— |
|
|
123 |
|
|
250 |
|
|
— |
|
|
— |
|
|
— |
|
|
250 |
|
Total Non-PCI loans |
$ |
6,586 |
|
|
$ |
1,680 |
|
|
$ |
3,017 |
|
|
$ |
2,027 |
|
|
$ |
13,310 |
|
|
$ |
4,544 |
|
|
$ |
220 |
|
|
$ |
1,067 |
|
|
$ |
2,759 |
|
|
$ |
8,590 |
|
December 31, 2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
2,032 |
|
|
$ |
2,032 |
|
|
$ |
306 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
306 |
|
Hospitality |
1,115 |
|
|
(53 |
) |
|
— |
|
|
— |
|
|
1,062 |
|
|
1,807 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,807 |
|
Gas station |
1,075 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,075 |
|
|
2,335 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,335 |
|
Other |
943 |
|
|
1,498 |
|
|
433 |
|
|
24 |
|
|
2,898 |
|
|
2,343 |
|
|
— |
|
|
782 |
|
|
1,372 |
|
|
4,497 |
|
Residential property |
742 |
|
|
— |
|
|
— |
|
|
— |
|
|
742 |
|
|
— |
|
|
— |
|
|
— |
|
|
308 |
|
|
308 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial term |
14 |
|
|
(1 |
) |
|
2,556 |
|
|
1,481 |
|
|
4,050 |
|
|
57 |
|
|
226 |
|
|
567 |
|
|
1,358 |
|
|
2,208 |
|
Commercial lines of credit |
227 |
|
|
— |
|
|
126 |
|
|
113 |
|
|
466 |
|
|
2,156 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,156 |
|
International loans |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
200 |
|
|
— |
|
|
200 |
|
Consumer loans |
— |
|
|
— |
|
|
131 |
|
|
— |
|
|
131 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Total Non-PCI loans |
$ |
4,116 |
|
|
$ |
1,444 |
|
|
$ |
3,246 |
|
|
$ |
3,650 |
|
|
$ |
12,456 |
|
|
$ |
9,004 |
|
|
$ |
226 |
|
|
$ |
1,549 |
|
|
$ |
3,038 |
|
|
$ |
13,817 |
|
|
| Troubled Debt Restructurings, Disaggregated by Loan Class |
The following table details TDRs (excluding PCI loans), disaggregated by loan class, for the six months ended June 30, 2015 and 2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2015 |
|
June 30, 2014 |
|
Number of Loans |
|
Pre-
Modification
Outstanding
Recorded
Investment |
|
Post-
Modification
Outstanding
Recorded
Investment |
|
Number of Loans |
|
Pre-
Modification
Outstanding
Recorded
Investment |
|
Post-
Modification
Outstanding
Recorded
Investment |
|
(in thousands, except number of loans) |
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
|
|
Retail (1)
|
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
1 |
|
|
$ |
2,002 |
|
|
$ |
1,882 |
|
Other (2)
|
1 |
|
|
313 |
|
|
313 |
|
|
2 |
|
|
1,011 |
|
|
1,005 |
|
Residential property (3)
|
— |
|
|
— |
|
|
— |
|
|
1 |
|
|
317 |
|
|
313 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial term (4)
|
5 |
|
|
553 |
|
|
486 |
|
|
5 |
|
|
327 |
|
|
287 |
|
Commercial lines of credit (5)
|
— |
|
|
— |
|
|
— |
|
|
2 |
|
|
400 |
|
|
378 |
|
Consumer loans (6)
|
1 |
|
|
250 |
|
|
250 |
|
|
— |
|
|
— |
|
|
— |
|
Total Non-PCI loans |
7 |
|
|
$ |
1,116 |
|
|
$ |
1,049 |
|
|
11 |
|
|
$ |
4,057 |
|
|
$ |
3,865 |
|
|
|
(1) |
Includes a modification of $1.9 million through an extension of maturity for the six months ended June 30, 2014.
|
|
|
(2) |
Includes a modification of $313,000 through a payment deferral for the six months ended June 30, 2015 and modifications of $62,000 through an extension of maturity and $943,000 through a payment deferral for the six months ended June 30, 2014.
|
|
|
(3) |
Includes a modification of $313,000 through an extension of maturity for the six months ended June 30, 2014.
|
|
|
(4) |
Includes modifications of $476,000 through extensions of maturity and a modification of $9,000 through a reduction of principal or accrued interest for the six months ended June 30, 2015, and modifications of $140,000 through a reduction of principal or accrued interest and $238,000 through a payment deferral for the six months ended June 30, 2014.
|
|
|
(5) |
Includes modifications of $140,000 through a reduction of principal or accrued interest and $238,000 through a payment deferral for the six months ended June 30, 2014.
|
|
|
(6) |
Includes a modification of $250,000 through a payment deferral for the three months ended June 30, 2015.
|
The following table details TDRs (excluding PCI loans), disaggregated by loan class, for the three months ended June 30, 2015 and 2014:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2015 |
|
June 30, 2014 |
|
Number of
Loans
|
|
Pre-
Modification
Outstanding
Recorded
Investment
|
|
Post-
Modification
Outstanding
Recorded
Investment
|
|
Number of
Loans
|
|
Pre-
Modification
Outstanding
Recorded
Investment
|
|
Post-
Modification
Outstanding
Recorded
Investment
|
|
(in thousands, except number of loans) |
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
|
|
Retail (1)
|
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
1 |
|
|
$ |
2,002 |
|
|
$ |
1,882 |
|
Other (2)
|
1 |
|
|
313 |
|
|
313 |
|
|
1 |
|
|
65 |
|
|
62 |
|
Residential property (3)
|
— |
|
|
— |
|
|
— |
|
|
1 |
|
|
316 |
|
|
313 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial term (4)
|
1 |
|
|
9 |
|
|
9 |
|
|
2 |
|
|
59 |
|
|
53 |
|
Commercial lines of credit (5)
|
— |
|
|
— |
|
|
— |
|
|
1 |
|
|
146 |
|
|
140 |
|
Consumer loans (6)
|
1 |
|
|
250 |
|
|
250 |
|
|
— |
|
|
— |
|
|
— |
|
Total Non-PCI loans |
3 |
|
|
$ |
572 |
|
|
$ |
572 |
|
|
6 |
|
|
$ |
2,588 |
|
|
$ |
2,450 |
|
|
|
(1) |
Includes a modification of $1.9 million through an extension of maturity for the three months ended June 30, 2014.
|
|
|
(2) |
Includes a modification of $313,000 through a payment deferral for the three months ended June 30, 2015 and a modification of $62,000 through an extension of maturity for the three months ended June 30, 2014.
|
|
|
(3) |
Includes a modification of $313,000 through an extension of maturity for the three months ended June 30, 2014.
|
|
|
(4) |
Includes a modification of $9,000 through a reduction of principal or accrued interest for the three months ended June 30, 2015 and modifications of $41,000 through a payment deferral and $12,000 through a reduction of principal or accrued interest for the three months ended June 30, 2014.
|
|
|
(5) |
Includes a modification of $140,000 through a reduction of principal or accrued interest for the three months ended June 30, 2014.
|
|
|
(6) |
Includes a modification of $250,000 through a payment deferral for the three months ended June 30, 2015.
|
|
| Troubled Debt Restructurings that Defaulted Subsequent to Modifications Occurring Within Previous Twelve Months, Disaggregated by Loan Class |
The following table details TDRs (excluding PCI loans) that defaulted subsequent to the modifications occurring within the previous twelve months, disaggregated by loan class, for the three and six months ended June 30, 2015 and 2014, respectively:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Six Months Ended |
|
June 30, 2015 |
|
June 30, 2014 |
|
June 30, 2015 |
|
June 30, 2014 |
|
Number of Loans |
|
Recorded Investment |
|
Number of Loans |
|
Recorded Investment |
|
Number of Loans |
|
Recorded Investment |
|
Number of Loans |
|
Recorded Investment |
|
(in thousands, except number of loans) |
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail |
— |
|
|
$ |
— |
|
|
— |
|
$ |
— |
|
|
— |
|
|
$ |
— |
|
|
1 |
|
|
$ |
309 |
|
Hospitality |
1 |
|
|
821 |
|
|
— |
|
— |
|
|
1 |
|
|
821 |
|
|
1 |
|
|
996 |
|
Gas station |
1 |
|
|
1,856 |
|
|
— |
|
— |
|
|
1 |
|
|
1,856 |
|
|
— |
|
|
— |
|
Other |
1 |
|
|
379 |
|
|
— |
|
— |
|
|
1 |
|
|
379 |
|
|
1 |
|
|
364 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial term |
— |
|
|
— |
|
|
2 |
|
212 |
|
|
— |
|
|
— |
|
|
2 |
|
|
212 |
|
Commercial lines of credit |
— |
|
|
— |
|
|
1 |
|
140 |
|
|
— |
|
|
— |
|
|
1 |
|
|
140 |
|
Total Non-PCI loans |
3 |
|
|
$ |
3,056 |
|
|
3 |
|
|
$ |
352 |
|
|
3 |
|
|
$ |
3,056 |
|
|
6 |
|
|
$ |
2,021 |
|
|
| Schedule of Changes in Outstanding Balance and Carrying Amount of PCI Loans |
The following table summarizes the changes in carrying value of PCI loans during the six months ended June 30, 2015:
|
|
|
|
|
|
|
|
|
|
Carrying Amount |
|
Accretable Yield |
|
(in thousands) |
Balance at January 1, 2015 |
$ |
43,475 |
|
|
$ |
(11,025 |
) |
Accretion |
1,758 |
|
|
1,758 |
|
Payments received |
(13,792 |
) |
|
— |
|
Disposal/transfer to OREO |
1,441 |
|
|
— |
|
Change in expected cash flows, net |
— |
|
|
92 |
|
Provision for credit losses |
(326 |
) |
|
— |
|
Balance at June 30, 2015 |
$ |
32,556 |
|
|
$ |
(9,175 |
) |
|
| Changes in Servicing Assets |
The changes in servicing assets for the six months ended June 30, 2015 and 2014 were as follows:
|
|
|
|
|
|
|
|
|
|
2015 |
|
2014 |
|
(in thousands) |
Servicing assets: |
|
|
|
Balance at beginning of period |
$ |
13,773 |
|
|
$ |
6,833 |
|
Addition related to sale of SBA loans |
1,181 |
|
|
413 |
|
Amortization |
(1,829 |
) |
|
(891 |
) |
Balance at end of period |
$ |
13,125 |
|
|
$ |
6,355 |
|
Servicing liabilities: |
|
|
|
Balance at beginning of period |
$ |
5,971 |
|
|
$ |
106 |
|
Amortization |
(603 |
) |
|
(3 |
) |
Balance at end of period |
$ |
5,368 |
|
|
$ |
103 |
|
|
| Non-PCI Loans [Member] |
|
| Credit Quality of Loan Portfolio |
As of June 30, 2015 and December 31, 2014, pass/pass-watch, special mention and classified loans (excluding PCI loans), disaggregated by loan class, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass/Pass-Watch |
|
Special Mention |
|
Classified |
|
Total |
|
(in thousands) |
June 30, 2015 |
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
Retail |
$ |
676,646 |
|
|
$ |
11,599 |
|
|
$ |
1,852 |
|
|
$ |
690,097 |
|
Hospitality |
440,360 |
|
|
41,436 |
|
|
10,493 |
|
|
492,289 |
|
Gas station |
321,327 |
|
|
9,515 |
|
|
6,724 |
|
|
337,566 |
|
Other |
823,627 |
|
|
6,222 |
|
|
10,886 |
|
|
840,735 |
|
Construction |
21,310 |
|
|
— |
|
|
— |
|
|
21,310 |
|
Residential property |
169,287 |
|
|
62 |
|
|
1,722 |
|
|
171,071 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
Commercial term |
101,985 |
|
|
1,373 |
|
|
8,318 |
|
|
111,676 |
|
Commercial lines of credit |
112,553 |
|
|
195 |
|
|
2,634 |
|
|
115,382 |
|
International loans |
33,864 |
|
|
— |
|
|
— |
|
|
33,864 |
|
Consumer loans |
24,034 |
|
|
111 |
|
|
2,129 |
|
|
26,274 |
|
Total Non-PCI loans |
$ |
2,724,993 |
|
|
$ |
70,513 |
|
|
$ |
44,758 |
|
|
$ |
2,840,264 |
|
December 31, 2014 |
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
Retail |
$ |
654,360 |
|
|
$ |
18,013 |
|
|
$ |
2,699 |
|
|
$ |
675,072 |
|
Hospitality |
397,437 |
|
|
46,365 |
|
|
10,697 |
|
|
454,499 |
|
Gas station |
345,775 |
|
|
8,899 |
|
|
7,566 |
|
|
362,240 |
|
Other |
822,037 |
|
|
9,543 |
|
|
10,546 |
|
|
842,126 |
|
Construction |
9,517 |
|
|
— |
|
|
— |
|
|
9,517 |
|
Residential property |
118,688 |
|
|
66 |
|
|
2,178 |
|
|
120,932 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
Commercial term |
106,326 |
|
|
1,225 |
|
|
8,522 |
|
|
116,073 |
|
Commercial lines of credit |
92,312 |
|
|
993 |
|
|
555 |
|
|
93,860 |
|
International loans |
36,121 |
|
|
252 |
|
|
2,556 |
|
|
38,929 |
|
Consumer loans |
25,313 |
|
|
131 |
|
|
2,068 |
|
|
27,512 |
|
Total Non-PCI loans |
$ |
2,607,886 |
|
|
$ |
85,487 |
|
|
$ |
47,387 |
|
|
$ |
2,740,760 |
|
|
| Analysis of Past Due Loans, Disaggregated by Loan Class |
The following is an aging analysis of gross loans (excluding PCI loans), disaggregated by loan class, as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30-59 Days Past Due |
|
60-89 Days Past Due |
|
90 Days or More Past Due |
|
Total Past Due |
|
Current |
|
Total |
|
Accruing 90 Days or More Past Due |
|
(in thousands) |
June 30, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail |
$ |
543 |
|
|
$ |
177 |
|
|
$ |
1,166 |
|
|
$ |
1,886 |
|
|
$ |
688,211 |
|
|
$ |
690,097 |
|
|
$ |
— |
|
Hospitality |
3,837 |
|
|
— |
|
|
4,356 |
|
|
8,193 |
|
|
484,096 |
|
|
492,289 |
|
|
— |
|
Gas station |
1,085 |
|
|
1,687 |
|
|
842 |
|
|
3,614 |
|
|
333,952 |
|
|
337,566 |
|
|
— |
|
Other |
1,209 |
|
|
447 |
|
|
3,477 |
|
|
5,133 |
|
|
835,602 |
|
|
840,735 |
|
|
— |
|
Construction |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
21,310 |
|
|
21,310 |
|
|
— |
|
Residential property |
— |
|
|
— |
|
|
108 |
|
|
108 |
|
|
170,963 |
|
|
171,071 |
|
|
— |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial term |
390 |
|
|
337 |
|
|
1,991 |
|
|
2,718 |
|
|
108,958 |
|
|
111,676 |
|
|
— |
|
Commercial lines of credit |
500 |
|
|
570 |
|
|
220 |
|
|
1,290 |
|
|
114,092 |
|
|
115,382 |
|
|
— |
|
International loans |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
33,864 |
|
|
33,864 |
|
|
— |
|
Consumer loans |
250 |
|
|
— |
|
|
338 |
|
|
588 |
|
|
25,686 |
|
|
26,274 |
|
|
— |
|
Total Non-PCI loans |
$ |
7,814 |
|
|
$ |
3,218 |
|
|
$ |
12,498 |
|
|
$ |
23,530 |
|
|
$ |
2,816,734 |
|
|
$ |
2,840,264 |
|
|
$ |
— |
|
December 31, 2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail |
$ |
1,554 |
|
|
$ |
281 |
|
|
$ |
1,920 |
|
|
$ |
3,755 |
|
|
$ |
671,317 |
|
|
$ |
675,072 |
|
|
$ |
— |
|
Hospitality |
1,531 |
|
|
2,340 |
|
|
433 |
|
|
4,304 |
|
|
450,195 |
|
|
454,499 |
|
|
— |
|
Gas station |
2,991 |
|
|
1,113 |
|
|
353 |
|
|
4,457 |
|
|
357,783 |
|
|
362,240 |
|
|
— |
|
Other |
1,674 |
|
|
2,156 |
|
|
1,142 |
|
|
4,972 |
|
|
837,154 |
|
|
842,126 |
|
|
— |
|
Construction |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
9,517 |
|
|
9,517 |
|
|
— |
|
Residential property |
167 |
|
|
— |
|
|
687 |
|
|
854 |
|
|
120,078 |
|
|
120,932 |
|
|
— |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial term |
1,107 |
|
|
490 |
|
|
2,847 |
|
|
4,444 |
|
|
111,629 |
|
|
116,073 |
|
|
— |
|
Commercial lines of credit |
— |
|
|
— |
|
|
227 |
|
|
227 |
|
|
93,633 |
|
|
93,860 |
|
|
— |
|
International loans |
200 |
|
|
— |
|
|
— |
|
|
200 |
|
|
38,729 |
|
|
38,929 |
|
|
— |
|
Consumer loans |
489 |
|
|
349 |
|
|
248 |
|
|
1,086 |
|
|
26,426 |
|
|
27,512 |
|
|
— |
|
Total Non-PCI loans |
$ |
9,713 |
|
|
$ |
6,729 |
|
|
$ |
7,857 |
|
|
$ |
24,299 |
|
|
$ |
2,716,461 |
|
|
$ |
2,740,760 |
|
|
$ |
— |
|
|
| PCI Loans [Member] |
|
| Credit Quality of Loan Portfolio |
As of June 30, 2015, pass/pass-watch, special mention and classified PCI loans, disaggregated by loan class, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass/Pass-Watch |
|
Special Mention |
|
Classified |
|
Total |
|
Allowance |
|
Total PCI Loans |
|
(in thousands) |
June 30, 2015 |
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
|
|
Retail |
$ |
1,199 |
|
|
$ |
177 |
|
|
$ |
7,982 |
|
|
$ |
9,358 |
|
|
$ |
257 |
|
|
$ |
9,101 |
|
Hospitality |
191 |
|
|
— |
|
|
10,154 |
|
|
10,345 |
|
|
317 |
|
|
10,028 |
|
Gas station |
— |
|
|
188 |
|
|
5,767 |
|
|
5,955 |
|
|
503 |
|
|
5,452 |
|
Other |
51 |
|
|
— |
|
|
5,834 |
|
|
5,885 |
|
|
16 |
|
|
5,869 |
|
Residential property |
— |
|
|
— |
|
|
2,055 |
|
|
2,055 |
|
|
196 |
|
|
1,859 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial term |
— |
|
|
— |
|
|
267 |
|
|
267 |
|
|
63 |
|
|
204 |
|
Consumer loans |
— |
|
|
— |
|
|
43 |
|
|
43 |
|
|
— |
|
|
43 |
|
Total PCI loans |
$ |
1,441 |
|
|
$ |
365 |
|
|
$ |
32,102 |
|
|
$ |
33,908 |
|
|
$ |
1,352 |
|
|
$ |
32,556 |
|
December 31, 2014 |
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
|
|
Retail |
$ |
1,207 |
|
|
$ |
219 |
|
|
$ |
8,917 |
|
|
$ |
10,343 |
|
|
$ |
401 |
|
|
$ |
9,942 |
|
Hospitality |
— |
|
|
— |
|
|
12,862 |
|
|
12,862 |
|
|
99 |
|
|
12,763 |
|
Gas station |
— |
|
|
1,242 |
|
|
6,503 |
|
|
7,745 |
|
|
302 |
|
|
7,443 |
|
Other |
— |
|
|
— |
|
|
10,680 |
|
|
10,680 |
|
|
65 |
|
|
10,615 |
|
Residential property |
— |
|
|
— |
|
|
2,499 |
|
|
2,499 |
|
|
28 |
|
|
2,471 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial term |
— |
|
|
— |
|
|
327 |
|
|
327 |
|
|
131 |
|
|
196 |
|
Consumer loans |
— |
|
|
— |
|
|
45 |
|
|
45 |
|
|
— |
|
|
45 |
|
Total PCI loans |
$ |
1,207 |
|
|
$ |
1,461 |
|
|
$ |
41,833 |
|
|
$ |
44,501 |
|
|
$ |
1,026 |
|
|
$ |
43,475 |
|
|
| Analysis of Past Due Loans, Disaggregated by Loan Class |
The following table presents a summary of the borrowers' underlying payment status of PCI loans as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30-59 Days Past Due |
|
60-89 Days Past Due |
|
90 Days or More Past Due |
|
Total Past Due |
|
Current |
|
Total |
|
Allowance Amount |
|
Total |
|
(in thousands) |
June 30, 2015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail |
$ |
1,759 |
|
|
$ |
— |
|
|
$ |
4,851 |
|
|
$ |
6,610 |
|
|
$ |
2,748 |
|
|
$ |
9,358 |
|
|
$ |
257 |
|
|
$ |
9,101 |
|
Hospitality |
36 |
|
|
— |
|
|
5,614 |
|
|
5,650 |
|
|
4,695 |
|
|
10,345 |
|
|
317 |
|
|
10,028 |
|
Gas station |
63 |
|
|
— |
|
|
1,874 |
|
|
1,937 |
|
|
4,018 |
|
|
5,955 |
|
|
503 |
|
|
5,452 |
|
Other |
8 |
|
|
— |
|
|
5,330 |
|
|
5,338 |
|
|
547 |
|
|
5,885 |
|
|
16 |
|
|
5,869 |
|
Residential property |
— |
|
|
— |
|
|
1,406 |
|
|
1,406 |
|
|
649 |
|
|
2,055 |
|
|
196 |
|
|
1,859 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial term |
— |
|
|
— |
|
|
70 |
|
|
70 |
|
|
197 |
|
|
267 |
|
|
63 |
|
|
204 |
|
Consumer loans |
— |
|
|
— |
|
|
43 |
|
|
43 |
|
|
— |
|
|
43 |
|
|
— |
|
|
43 |
|
Total PCI loans |
$ |
1,866 |
|
|
$ |
— |
|
|
$ |
19,188 |
|
|
$ |
21,054 |
|
|
$ |
12,854 |
|
|
$ |
33,908 |
|
|
$ |
1,352 |
|
|
$ |
32,556 |
|
December 31, 2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail |
$ |
93 |
|
|
$ |
287 |
|
|
$ |
5,623 |
|
|
$ |
6,003 |
|
|
$ |
4,340 |
|
|
$ |
10,343 |
|
|
$ |
401 |
|
|
$ |
9,942 |
|
Hospitality |
312 |
|
|
— |
|
|
7,670 |
|
|
7,982 |
|
|
4,880 |
|
|
12,862 |
|
|
99 |
|
|
12,763 |
|
Gas station |
1,139 |
|
|
1,053 |
|
|
3,178 |
|
|
5,370 |
|
|
2,375 |
|
|
7,745 |
|
|
302 |
|
|
7,443 |
|
Other |
— |
|
|
— |
|
|
10,119 |
|
|
10,119 |
|
|
561 |
|
|
10,680 |
|
|
65 |
|
|
10,615 |
|
Residential property |
— |
|
|
— |
|
|
1,722 |
|
|
1,722 |
|
|
777 |
|
|
2,499 |
|
|
28 |
|
|
2,471 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial term |
30 |
|
|
— |
|
|
135 |
|
|
165 |
|
|
162 |
|
|
327 |
|
|
131 |
|
|
196 |
|
Consumer loans |
— |
|
|
17 |
|
|
28 |
|
|
45 |
|
|
— |
|
|
45 |
|
|
— |
|
|
45 |
|
Total PCI loans |
$ |
1,574 |
|
|
$ |
1,357 |
|
|
$ |
28,475 |
|
|
$ |
31,406 |
|
|
$ |
13,095 |
|
|
$ |
44,501 |
|
|
$ |
1,026 |
|
|
$ |
43,475 |
|
|