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Non-Covered Loan and Lease Finance Receivables and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2014

Text Block [Abstract]

Summary of Components of Loan and Lease Finance Receivables

The following tables provide a summary of the components of loan and lease finance receivables:

		March 31, 2014				December 31, 2013
		(Dollars in thousands)
Commercial and industrial		$	490,653			$	512,792
Real estate:
Commercial real estate			2,194,051				2,207,515
Construction			42,906				47,109
SFR mortgage			189,899				189,233
Dairy & livestock and agribusiness			212,957				294,292
Municipal lease finance receivables			81,041				89,106
Consumer and other loans			54,815				55,103
Gross non-covered loans			3,266,322				3,395,150
Less: Deferred loan fees, net			(8,763	)			(9,234	)
Gross loans, net of deferred loan fees			3,257,559				3,385,916
Less: Allowance for non-covered loan losses			(68,725	)			(75,235	)
Net non-covered loans		$	3,188,834			$	3,310,681

Summary of Activity Related to Non-Covered Loans Held-for-Sale

The following table provides a summary of the activity related to non-covered loans held-for-sale for the three months ended March 31, 2014 and 2013:

		For the Three Months Ended March 31,
		2014				2013
		(Dollars in thousands)
Balance, beginning of period		$	3,667			$	—
Originations of mortgage loans			—				—
Sales of mortgage loans			—				—
Transfer of mortgage loans to held-for-investment			—				—
Sales of other loans			(3,667	)			—
Transfers of other loans to held-for-sale			—				—
Write-down of loans held-for-sale			—				—
Balance, end of period		$	—			$	—

Summary of Loan by Internal Risk Ratings

The following tables summarize our internal risk grouping by loan class as of March 31, 2014 and December 31, 2013:

		March 31, 2014
		Pass				Watch List				Special Mention				Substandard				Doubtful & Loss				Total
		(Dollars in thousands)
Commercial and industrial		$	297,226			$	122,117			$	55,351			$	15,510			$	449			$	490,653
Real estate:
Commercial real estate
Owner occupied			436,914				149,155				74,017				56,287				—				716,373
Non-owner occupied			1,102,953				254,669				71,282				48,774				—				1,477,678
Construction
Speculative			7,594				383				1,513				17,519				—				27,009
Non-speculative			5,676				1,052				—				9,169				—				15,897
SFR mortgage			153,204				20,905				2,911				12,879				—				189,899
Dairy & livestock and agribusiness			18,204				71,184				66,598				51,574				5,397				212,957
Municipal lease finance receivables			40,860				19,197				20,984				—				—				81,041
Consumer and other loans			42,557				7,523				3,285				1,450				—				54,815
Total non-covered gross loans		$	2,105,188			$	646,185			$	295,941			$	213,162			$	5,846			$	3,266,322

		December 31, 2013
		Pass				Watch List				Special Mention				Substandard				Doubtful & Loss				Total
		(Dollars in thousands)
Commercial and industrial		$	312,927			$	128,068			$	53,417			$	17,950			$	430			$	512,792
Real estate:
Commercial real estate
Owner occupied			449,853				147,165				74,999				57,934				—				729,951
Non-owner occupied			1,104,065				242,431				81,088				49,980				—				1,477,564
Construction
Speculative			8,611				21				1,529				17,617				—				27,778
Non-speculative			6,940				3,190				—				9,201				—				19,331
SFR mortgage			152,500				20,485				3,302				12,946				—				189,233
Dairy & livestock and agribusiness			43,588				86,580				92,514				69,005				2,605				294,292
Municipal lease finance receivables			43,445				18,338				20,893				6,430				—				89,106
Consumer and other loans			43,225				6,938				3,449				1,491				—				55,103
Total non-covered gross loans		$	2,165,154			$	653,216			$	331,191			$	242,554			$	3,035			$	3,395,150

Schedule of Balance and Activity Related to Allowance for Loan Losses for Non-Covered Held-for-Investment Loans by Portfolio Segment

The following tables present the balance and activity related to the allowance for loan losses for non-covered held-for-investment loans by portfolio segment as of March 31, 2014 and 2013:

		For the Three Months Ended March 31, 2014
		Ending Balance December 31, 2013				Charge-offs				Recoveries				Provision for Loan Losses				Ending Balance March 31, 2014
		(Dollars in thousands)
Commercial and industrial		$	10,834			$	(454	)		$	455			$	(1,999	)		$	8,836
Real estate:
Commercial real estate			39,402				—				68				(70	)			39,400
Construction			1,305				—				778				(1,625	)			458
SFR mortgage			2,718				—				—				(436	)			2,282
Dairy & livestock and agribusiness			11,728				—				144				(2,605	)			9,267
Municipal lease finance receivables			2,335				—				—				(816	)			1,519
Consumer and other loans			960				(13	)			12				(9	)			950
Unallocated			5,953												60				6,013
Total allowance for loan losses		$	75,235			$	(467	)		$	1,457			$	(7,500	)		$	68,725

		For the Three Months Ended March 31, 2013
		Ending Balance December 31, 2012				Charge-offs				Recoveries				Provision for Loan Losses				Ending Balance March 31, 2013
		(Dollars in thousands)
Commercial and industrial		$	11,652			$	(357	)		$	99			$	919			$	12,313
Real estate:
Commercial real estate			47,457				—				37				(769	)			46,725
Construction			2,291				—				126				(293	)			2,124
SFR mortgage			3,448				(142	)			34				266				3,606
Dairy & livestock and agribusiness			18,696				—				14				(2,139	)			16,571
Municipal lease finance receivables			1,588				—				—				1,044				2,632
Consumer and other loans			1,170				(47	)			13				(3	)			1,133
Unallocated			6,139												975				7,114
Total allowance for loan losses		$	92,441			$	(546	)		$	323			$	—			$	92,218

Schedule of Recorded Investment in Non-Covered Loans Held-for-Investment, and Related Allowance for Loan Losses by Portfolio Segment

The following tables present the recorded investment in non-covered loans held-for-investment, and the related allowance for loan losses by portfolio segment, based on the Company’s methodology for determining the allowance for loan losses as March 31, 2014 and 2013:

		March 31, 2014
		Recorded Investment in Loans								Allowance for Loan Losses
		Individually Evaluated for Impairment				Collectively Evaluated for Impairment				Individually Evaluated for Impairment				Collectively Evaluated for Impairment
		(Dollars in thousands)
Commercial and industrial		$	5,940			$	484,713			$	882			$	7,954
Real estate:
Commercial real estate			33,907				2,160,144				320				39,080
Construction			26,688				16,218				—				458
SFR mortgage			11,692				178,207				47				2,235
Dairy & livestock and agribusiness			27,972				184,985				2,656				6,611
Municipal lease finance receivables			—				81,041				—				1,519
Consumer and other loans			397				54,418				96				854
Unallocated															6,013
Total		$	106,596			$	3,159,726			$	4,001			$	64,724

		March 31, 2013
		Recorded Investment in Loans								Allowance for Loan Losses
		Individually Evaluated for Impairment				Collectively Evaluated for Impairment				Individually Evaluated for Impairment				Collectively Evaluated for Impairment
		(Dollars in thousands)
Commercial and industrial		$	4,579			$	528,362			$	1,055			$	11,258
Real estate:
Commercial real estate			41,505				1,954,693				1				46,724
Construction			27,491				28,212				—				2,124
SFR mortgage			13,593				148,429				428				3,178
Dairy & livestock and agribusiness			25,327				258,545				2,560				14,011
Municipal lease finance receivables			—				109,727				—				2,632
Consumer and other loans			226				56,312				27				1,106
Unallocated															7,114
Total		$	112,721			$	3,084,280			$	4,071			$	88,147

Schedule of Recorded Investment in, and Aging of, Non-Covered Past Due and Nonaccrual Loans by Class of Loans

The following tables present the recorded investment in, and the aging of, non-covered past due and nonaccrual loans and loans past due by class of loans as of March 31, 2014 and December 31, 2013:

		March 31, 2014
		30-59 Days Past Due				60-89 Days Past Due				90+ Days Past Due and Accruing				Total Past Due and Accruing				Nonaccrual (1)				Current				Total Loans and Financing Receivables
		(Dollars in thousands)
Commercial and industrial		$	—			$	—			$	—			$	—			$	4,821			$	485,832			$	490,653
Real estate:
Commercial real estate
Owner occupied			28				—				—				28				4,377				711,968				716,373
Non-owner occupied			492				—				—				492				7,475				1,469,711				1,477,678
Construction
Speculative			—				—				—				—				9,867				17,142				27,009
Non-speculative			—				—				—				—				—				15,897				15,897
SFR mortgage			432				—				—				432				7,868				181,599				189,899
Dairy & livestock and agribusiness			—				—				—				—				5,397				207,560				212,957
Municipal lease finance receivables			—				—				—				—				—				81,041				81,041
Consumer and other loans			8				—				—				8				397				54,410				54,815
Total non-covered gross loans		$	960			$	—			$	—			$	960			$	40,202			$	3,225,160			$	3,266,322

(1) As of March 31, 2014, $23.2 million of nonaccruing loans were current according to original or restructured terms, $1.6 million were 30-59 days past due, $387,000 were 60-89 days past due, and $15.0 million were 90+ days past due.

		December 31, 2013
		30-59 Days Past Due				60-89 Days Past Due				90+ Days Past Due and Accruing				Total Past Due and Accruing				Nonaccrual (1)				Current				Total Loans and Financing Receivables
		(Dollars in thousands)
Commercial and industrial		$	900			$	93			$	—			$	993			$	3,861			$	507,938			$	512,792
Real estate:
Commercial real estate
Owner occupied			220				—				—				220				4,105				725,626				729,951
Non-owner occupied			303				—				—				303				8,305				1,468,956				1,477,564
Construction
Speculative			—				—				—				—				9,966				17,812				27,778
Non-speculative			—				—				—				—				—				19,331				19,331
SFR mortgage			773				935				—				1,708				7,577				179,948				189,233
Dairy & livestock and agribusiness			—				—				—				—				5,739				288,553				294,292
Municipal lease finance receivables			—				—				—				—				—				89,106				89,106
Consumer and other loans			75				—				—				75				401				54,627				55,103
Total non-covered gross loans		$	2,271			$	1,028			$	—			$	3,299			$	39,954			$	3,351,897			$	3,395,150

(1) As of December 31, 2013, $23.9 million of nonaccruing loans were current according to original or restructured terms, $473,000 were 30-59 days past due, $854,000 were 60-89 days past due, and $14.7 million were 90+ days past due.

Schedule of Held-for-Investment Loans Individually Evaluated for Impairment by Class of Loans

The following tables present information for held-for-investment loans, individually evaluated for impairment by class of loans, as of and for the periods indicated below:

		As of and For the Three Months Ended March 31, 2014
		Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Interest Income Recognized
		(Dollars in thousands)
With no related allowance recorded:
Commercial and industrial		$	4,173			$	4,859			$	—			$	4,230			$	15
Real estate:
Commercial real estate
Owner occupied			10,108				10,768				—				10,221				117
Non-owner occupied			21,928				27,740				—				22,103				215
Construction
Speculative			17,519				18,407				—				17,550				77
Non-speculative			9,169				9,169				—				9,184				140
SFR mortgage			11,214				12,911				—				11,266				26
Dairy & livestock and agribusiness			16,582				17,430				—				16,902				189
Municipal lease finance receivables			—				—				—				—				—
Consumer and other loans			290				295				—				291				—
Total			90,983				101,579				—				91,747				779
With a related allowance recorded:
Commercial and industrial			1,767				2,109				882				1,771				—
Real estate:
Commercial real estate
Owner occupied			1,871				2,344				320				1,871				—
Non-owner occupied			—				—				—				—				—
Construction
Speculative			—				—				—				—				—
Non-speculative			—				—				—				—				—
SFR mortgage			478				486				47				479				—
Dairy & livestock and agribusiness			11,390				12,042				2,656				11,608				75
Municipal lease finance receivables			—				—				—				—				—
Consumer and other loans			107				165				96				107				—
Total			15,613				17,146				4,001				15,836				75
Total non-covered impaired loans		$	106,596			$	118,725			$	4,001			$	107,583			$	854

		As of and For the Three Months Ended March 31, 2013
		Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Interest Income Recognized
		(Dollars in thousands)
With no related allowance recorded:
Commercial and industrial		$	2,873			$	3,617			$	—			$	2,899			$	18
Real estate:
Commercial real estate
Owner occupied			13,616				14,827				—				13,630				122
Non-owner occupied			27,877				38,306				—				28,092				202
Construction
Speculative			18,272				18,607				—				18,272				77
Non-speculative			9,219				9,219				—				9,219				141
SFR mortgage			10,184				12,821				—				10,319				16
Dairy & livestock and agribusiness			20,843				21,874				—				19,170				98
Municipal lease finance receivables			—				—				—				—				—
Consumer and other loans			141				196				—				141				—
Total			103,025				119,467				—				101,742				674
With a related allowance recorded:
Commercial and industrial			1,706				1,871				1,055				1,723				—
Real estate:
Commercial real estate
Owner occupied			12				14				1				16				—
Non-owner occupied			—				—				—				—				—
Construction
Speculative			—				—				—				—				—
Non-speculative			—				—				—				—				—
SFR mortgage			3,409				4,040				428				3,415				—
Dairy & livestock and agribusiness			4,484				4,944				2,560				4,603				—
Municipal lease finance receivables			—				—				—				—				—
Consumer and other loans			85				87				27				43				—
Total			9,696				10,956				4,071				9,800				—
Total non-covered impaired loans		$	112,721			$	130,423			$	4,071			$	111,542			$	674

		As of December 31, 2013
		Recorded Investment				Unpaid Principal Balance				Related Allowance
		(Dollars in thousands)
With no related allowance recorded:
Commercial and industrial		$	4,668			$	5,927			$	—
Real estate:
Commercial real estate
Owner occupied			13,041				14,133				—
Non-owner occupied			20,399				26,155				—
Construction
Speculative			17,617				18,408				—
Non-speculative			9,201				9,201				—
SFR mortgage			10,919				12,516				—
Dairy & livestock and agribusiness			17,702				17,702				—
Municipal lease finance receivables			—				—				—
Consumer and other loans			385				445				—
Total			93,932				104,487				—
With a related allowance recorded:
Commercial and industrial			365				379				365
Real estate:
Commercial real estate
Owner occupied			—				—				—
Non-owner occupied			—				—				—
Construction
Speculative			—				—				—
Non-speculative			—				—				—
SFR mortgage			486				489				103
Dairy & livestock and agribusiness			12,110				12,783				2,702
Municipal lease finance receivables			—				—				—
Consumer and other loans			16				19				4
Total			12,977				13,670				3,174
Total non-covered impaired loans		$	106,909			$	118,157			$	3,174

Summary of Activity Related to Troubled Debt Restructurings

The following tables provide a summary of the activity related to TDRs for the three months ended March 31, 2014 and 2013:

		For the Three Months Ended March 31,
		2014				2013
		(Dollars in thousands)
Performing TDRs:
Beginning balance		$	66,955			$	50,392
New modifications			41				10,245
Payoffs and payments, net			(602	)			(4,195	)
TDRs returned to accrual status			—				1,149
TDRs placed on nonaccrual status			—				—
Ending balance		$	66,394			$	57,591

		For the Three Months Ended March 31,
		2014				2013
		(Dollars in thousands)
Nonperforming TDRs:
Beginning balance		$	25,119			$	31,309
New modifications			—				100
Payoffs and payments, net			(1,151	)			(694	)
TDRs returned to accrual status			—				(1,149	)
TDRs placed on nonaccrual status			—				—
Ending balance		$	23,968			$	29,566

Loans Modified as Troubled Debt Restructurings

The following tables summarize loans modified as troubled debt restructurings during the three months ended March 31, 2014, and 2013:

Modifications (1)

		For the Three Months Ended March 31, 2014
		Number of Loans				Pre-Modification Outstanding Recorded Investment				Post-Modification Outstanding Recorded Investment				Outstanding Recorded Investment at March 31, 2013				Financial Effect Resulting From Modifications (2)
		(Dollars in thousands)
Commercial and industrial:
Interest rate reduction			—			$	—			$	—			$	—			$	—
Change in amortization period or maturity			1				41				41				39				—
Real estate:
Commercial real estate:
Owner occupied
Interest rate reduction			—				—				—				—				—
Change in amortization period or maturity			—				—				—				—				—
SFR mortgage:
Interest rate reduction			—				—				—				—				—
Change in amortization period or maturity			—				—				—				—				—
Other			—				—				—				—				—
Dairy & livestock and agribusiness:
Interest rate reduction			—				—				—				—				—
Change in amortization period or maturity			—				—				—				—				—
Total non-covered loans			1				41				41				39				—

		For the Three Months Ended March 31, 2013
		Number of Loans				Pre-Modification Outstanding Recorded Investment				Post-Modification Outstanding Recorded Investment				Outstanding Recorded Investment at March 31, 2014				Financial Effect Resulting From Modifications (2)
		(Dollars in thousands)
Commercial and industrial:
Interest rate reduction			—			$	—			$	—			$	—			$	—
Change in amortization period or maturity			2				204				204				193				95
Real estate:
Commercial real estate:
Owner occupied
Interest rate reduction			—				—				—				—				—
Change in amortization period or maturity			1				168				168				168				—
SFR mortgage:
Interest rate reduction			—				—				—				—				—
Change in amortization period or maturity			—				—				—				—				—
Dairy & livestock and agribusiness:
Interest rate reduction			—				—				—				—				—
Change in amortization period or maturity			8				9,973				9,973				9,855				—
Total non-covered loans			11			$	10,345			$	10,345			$	10,216			$	95

(1) The tables exclude modified loans that were paid off prior to the end of the period.

(2) Financial effects resulting from modifications represent charge-offs and specific allowance recorded at modification date.

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Schedule of held for investment and held for sale loans individually evaluated for impairment by class of loans.

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Schedule of recorded investment in held-for-investment and held-for-sale, non-covered, non-accrual loans and past due by class of loans.

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- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 29

-URI http://asc.fasb.org/extlink&oid=28368275&loc=SL6953659-111524



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

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Tabular disclosure of financing receivables and troubled debt restructurings.

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