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Covered Assets and FDIC Loss-sharing Asset (Tables)
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12 Months Ended |
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Dec. 31, 2013
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| Covered Assets And FDIC Loss Sharing Asset [Line Items] |
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| Analysis of Loan Portfolio by Major Types of Loans |
The following is an analysis of our covered loans, net of related allowance for losses as of December 31, 2013 and 2012: | | | | | | | | | | | | December 31, 2013 | | December 31, 2012 | Covered loans: | | (dollars in thousands) | Commercial business | | $ | 72,870 |
| | $ | 125,373 |
| Real estate: | | | | | One-to-four family residential | | 41,642 |
| | 57,150 |
| Commercial and multifamily residential | | 170,879 |
| | 233,106 |
| Total real estate | | 212,521 |
| | 290,256 |
| Real estate construction: | | | | | One-to-four family residential | | 14,781 |
| | 25,398 |
| Commercial and multifamily residential | | 6,869 |
| | 15,251 |
| Total real estate construction | | 21,650 |
| | 40,649 |
| Consumer | | 34,101 |
| | 44,516 |
| Subtotal of covered loans | | 341,142 |
| | 500,794 |
| Less: | | | | | Valuation discount resulting from acquisition accounting | | 43,297 |
| | 79,401 |
| Allowance for loan losses | | 20,174 |
| | 30,056 |
| Covered loans, net of valuation discounts and allowance for loan losses | | $ | 277,671 |
| | $ | 391,337 |
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| Changes in Accretable Yield for Acquired Loans |
The following table shows the changes in accretable yield for acquired loans for the years ended December 31, 2013, 2012, and 2011: | | | | | | | | | | | | | | | | Years Ended December 31, | | | 2013 | | 2012 | | 2011 | | | (in thousands) | Balance at beginning of period | | $ | 166,888 |
| | $ | 259,669 |
| | $ | 256,572 |
| Additions resulting from acquisitions | | — |
| | — |
| | 59,810 |
| Accretion | | (51,816 | ) | | (86,671 | ) | | (90,378 | ) | Disposals | | (6,898 | ) | | (12,856 | ) | | (31,483 | ) | Reclassifications from nonaccretable difference | | (4,267 | ) | | 6,746 |
| | 65,148 |
| Balance at end of period | | $ | 103,907 |
| | $ | 166,888 |
| | $ | 259,669 |
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| Schedule of Carrying Amounts for Acquired Loans at Acquisition Date |
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| Covered OREO at Carrying Value |
The following table sets forth activity in covered OREO at carrying value for the years ended December 31, 2013 and 2012: | | | | | | | | | | | | December 31, 2013 | | December 31, 2012 | | | (in thousands) | Covered OREO: | | | | | Balance, beginning of period | | $ | 16,311 |
| | $ | 28,126 |
| Transfers in | | 8,827 |
| | 14,166 |
| Additional OREO write-downs | | (282 | ) | | (3,484 | ) | Proceeds from sale of OREO property | | (22,046 | ) | | (33,315 | ) | Net gain on sale of OREO | | 9,283 |
| | 10,818 |
| Total covered OREO, end of period | | $ | 12,093 |
| | $ | 16,311 |
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| FDIC Loss-sharing Asset |
The following table shows a detailed analysis of the FDIC loss-sharing asset for the years ending December 31, 2013 and 2012: | | | | | | | | | | | | 2013 | | 2012 | | | (in thousands) | Balance at beginning of period | | $ | 96,354 |
| | $ | 175,071 |
| Adjustments not reflected in income: | | | | | Cash received from the FDIC | | (9,246 | ) | | (54,649 | ) | FDIC reimbursable losses, net | | (2,245 | ) | | 399 |
| Adjustments reflected in income: | | | | | Amortization, net | | (36,729 | ) | | (42,940 | ) | Loan impairment (recapture) | | (2,609 | ) | | 20,714 |
| Sale of other real estate | | (6,177 | ) | | (7,789 | ) | Write-downs of other real estate | | 364 |
| | 5,190 |
| Other | | 134 |
| | 358 |
| Balance at end of period | | $ | 39,846 |
| | $ | 96,354 |
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Covered Loans [Member]
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| Covered Assets And FDIC Loss Sharing Asset [Line Items] |
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| Changes in the Allowance for Loan and Lease Losses |
The changes in the ALLL for covered loans for the years ended December 31, 2013, 2012, and 2011 are summarized as follows: | | | | | | | | | | | | | | | | Years Ended December 31, | | | 2013 | | 2012 | | 2011 | | | (in thousands) | Balance at beginning of year | | $ | 30,056 |
| | $ | 4,944 |
| | $ | 6,055 |
| Loans charged off | | (13,853 | ) | | (5,112 | ) | | (1,488 | ) | Recoveries | | 7,232 |
| | 4,332 |
| | 2,025 |
| Provision charged to expense | | (3,261 | ) | | 25,892 |
| | (1,648 | ) | Balance at end of year | | $ | 20,174 |
| | $ | 30,056 |
| | $ | 4,944 |
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