v2.4.0.6
Allowance for Noncovered Loan and Lease Losses and Unfunded Commitments and Letters of Credit (Tables)
 12 Months Ended
Dec. 31, 2011
Financing Receivable, Allowance for Credit Losses [Line Items]  
Changes in the Allowance for Unfunded Commitments and Letters of Credit
Changes in the allowance for unfunded commitments and letters of credit are summarized as follows:
 
 
Years Ended December 31,
 
 
2011
 
2010
 
2009
 
 
(in thousands)
Beginning balance
 
$
1,165

 
$
775

 
$
500

Net changes in the allowance for unfunded commitments and letters of credit
 
370

 
390

 
275

Ending balance
 
$
1,535

 
$
1,165

 
$
775
Noncovered Loans [Member]
  
Financing Receivable, Allowance for Credit Losses [Line Items]  
Changes in the Allowance for Loan and Lease Losses
The following table shows a detailed analysis of the allowance for loan and lease losses for noncovered loans for the years ended December 31, 2011 and 2010: 
 
 
Beginning
Balance
 
Charge-offs
 
Recoveries
 
Provision (Recovery)
 
Ending
Balance
 
Specific
Reserve
 
General
Allocation
Year ended December 31, 2011
 
(in thousands)
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
21,811

 
$
(7,270
)
 
$
1,154

 
$
9,050

 
$
24,745

 
$
954

 
$
23,791

Unsecured
 
738

 
(639
)
 
1,444

 
(854
)
 
689

 
97

 
592

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
1,100

 
(717
)
 
80

 
191

 
654

 
96

 
558

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
634

 
(660
)
 
12

 
502

 
488

 
—

 
488

Income property multifamily
 
15,210

 
(1,407
)
 
414

 
(4,666
)
 
9,551

 
63

 
9,488

Owner occupied
 
9,692

 
(1,620
)
 
33

 
1,501

 
9,606

 
185

 
9,421

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
3,769

 
(1,419
)
 
1,978

 
(1,997
)
 
2,331

 
—

 
2,331

Residential construction
 
2,292

 
(1,068
)
 
113

 
(473
)
 
864

 
59

 
805

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income property multifamily
 
274

 
(2,213
)
 
—

 
2,604

 
665

 
—

 
665

Owner occupied
 
70

 
—

 
—

 
(35
)
 
35

 
—

 
35

Consumer
 
2,120

 
(3,918
)
 
351

 
4,166

 
2,719

 
30

 
2,689

Unallocated
 
3,283

 
—

 
—

 
(2,589
)
 
694

 
—

 
694

Total
 
$
60,993

 
$
(20,931
)
 
$
5,579

 
$
7,400

 
$
53,041

 
$
1,484

 
$
51,557

 
 
Beginning
Balance
 
Charge-offs
 
Recoveries
 
Provision
 
Ending
Balance
 
Specific
Reserve
 
General
Allocation
Year ended December 31, 2010
 
(in thousands)
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
20,409

 
$
(12,779
)
 
$
1,218

 
$
12,963

 
$
21,811

 
$
600

 
$
21,211

Unsecured
 
1,560

 
(2,100
)
 
1,171

 
107

 
738

 
75

 
663

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
1,072

 
(406
)
 
15

 
419

 
1,100

 
—

 
1,100

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
664

 
(2,165
)
 
—

 
2,135

 
634

 
—

 
634

Income property multifamily
 
9,860

 
(1,969
)
 
124

 
7,195

 
15,210

 
59

 
15,151

Owner occupied
 
6,690

 
(2,039
)
 
2

 
5,039

 
9,692

 
—

 
9,692

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
5,711

 
(8,409
)
 
1,199

 
5,268

 
3,769

 
3

 
3,766

Residential construction
 
2,304

 
(2,447
)
 
474

 
1,961

 
2,292

 
62

 
2,230

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income property multifamily
 
2,453

 
(3,107
)
 
775

 
153

 
274

 
175

 
99

Owner occupied
 
36

 
—

 
—

 
34

 
70

 
—

 
70

Consumer
 
1,282

 
(3,982
)
 
649

 
4,171

 
2,120

 
—

 
2,120

Unallocated
 
1,437

 
—

 
—

 
1,846

 
3,283

 
—

 
3,283

Total
 
$
53,478

 
$
(39,403
)
 
$
5,627

 
$
41,291

 
$
60,993

 
$
974

 
$
60,019


The 2009 changes in the ALLL for noncovered loans are summarized as follows:
 
 
 
Years Ended December 31,
 
 
2009
 
 
(in thousands)
Balance at beginning of year
 
$
42,747

Loans charged off
 
(54,521
)
Recoveries
 
1,752

Net chargeoffs
 
(52,769
)
Provision charged to expense
 
63,500

Balance at end of year
 
$
53,478
Analysis of Credit Quality of Noncovered Loan Portfolio
The following is an analysis of the credit quality of our noncovered loan portfolio as of December 31, 2011 and 2010:
 
 
 
December 31, 2011
 
December 31, 2010
 
 
Weighted-
Average
Risk Rating
 
Recorded
Investment
Noncovered
Loans
 
Weighted-
Average
Risk Rating
 
Recorded
Investment
Noncovered
Loans
 
 
(dollars in thousands)
Commercial business:
 
 
 
 
 
 
 
 
Secured
 
4.89

 
$
981,417

 
4.96

 
$
757,372

Unsecured
 
4.25

 
47,406

 
4.23

 
41,175

Real estate:
 
 
 
 
 
 
 
 
One-to-four family residential
 
4.81

 
64,063

 
4.96

 
49,436

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
Commercial land
 
5.22

 
50,681

 
5.75

 
24,956

Income property multifamily
 
4.94

 
533,993

 
5.07

 
406,711

Owner occupied
 
5.05

 
404,789

 
5.12

 
366,284

Real estate construction:
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
Land and acquisition
 
6.43

 
25,201

 
6.79

 
37,054

Residential construction
 
5.94

 
23,931

 
6.63

 
31,293

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
Income property multifamily
 
5.49

 
20,877

 
6.38

 
18,296

Owner occupied
 
4.55

 
12,790

 
4.93

 
11,990

Consumer
 
4.24

 
183,223

 
4.31

 
182,624

Total recorded investment of noncovered loans
 
$
2,348,371

 
 
 
$
1,927,191