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Fair value measurements (Tables) | 6 Months Ended
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Jun. 30, 2013
Fair value measurements |
Schedule of estimated fair values of certain of the Company's financial instruments |
|  | Carrying or notional |  | Estimated fair value |
(in thousands) |  | amount |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |
June 30, 2013 |  |  |  |  |  |  |  |  |  |  |
Financial assets |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 10 |  | $ | — |  | $ | 10 |  | $ | — |  | $ | 10 |
Available-for-sale investment and mortgage-related securities |  | 560,172 |  | — |  | 560,172 |  | — |  | 560,172 |
Investment in stock of Federal Home Loan Bank of Seattle |  | 94,281 |  | — |  | 94,281 |  | — |  | 94,281 |
Loans receivable, net |  | 3,946,703 |  | — |  | — |  | 4,075,387 |  | 4,075,387 |
Derivative assets |  | 54,192 |  | 625 |  | 538 |  | — |  | 1,163 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |
Deposit liabilities |  | 4,276,243 |  | — |  | 4,279,284 |  | — |  | 4,279,284 |
Short-term borrowings—other than bank |  | 125,786 |  | — |  | 125,786 |  | — |  | 125,786 |
Other bank borrowings |  | 187,884 |  | — |  | 200,813 |  | — |  | 200,813 |
Long-term debt, net—other than bank |  | 1,422,877 |  | — |  | 1,450,844 |  | — |  | 1,450,844 |
Derivative liabilities |  | 19,350 |  | — |  | 525 |  | — |  | 525 |
December 31, 2012 |  |  |  |  |  |  |  |  |  |  |
Financial assets |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 10 |  | $ | — |  | $ | 10 |  | $ | — |  | $ | 10 |
Available-for-sale investment and mortgage-related securities |  | 671,358 |  | — |  | 671,358 |  | — |  | 671,358 |
Investment in stock of Federal Home Loan Bank of Seattle |  | 96,022 |  | — |  | 96,022 |  | — |  | 96,022 |
Loans receivable, net |  | 3,763,238 |  | — |  | — |  | 3,957,752 |  | 3,957,752 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |
Deposit liabilities |  | 4,229,916 |  | — |  | 4,235,527 |  | — |  | 4,235,527 |
Short-term borrowings—other than bank |  | 83,693 |  | — |  | 83,693 |  | — |  | 83,693 |
Other bank borrowings |  | 195,926 |  | — |  | 212,163 |  | — |  | 212,163 |
Long-term debt, net—other than bank |  | 1,422,872 |  | — |  | 1,481,004 |  | — |  | 1,481,004 |
Schedule of assets measured at fair value on a recurring basis |
|  | Fair value measurements using |
|  | Quoted prices in |  | Significant other |  | Significant |
|  | active markets for identical |  | observable inputs |  | unobservable inputs |
(in thousands) |  | assets (Level 1) |  | (Level 2) |  | (Level 3) |
June 30, 2013 |  |  |  |  |  |  |
Money market funds (“other” segment) |  | $ | — |  | $ | 10 |  | $ | — |
Available-for-sale securities (bank segment) |  |  |  |  |  |  |
Mortgage-related securities-FNMA, FHLMC and GNMA |  | $ | — |  | $ | 382,044 |  | $ | — |
Federal agency obligations |  | — |  | 99,064 |  | — |
Municipal bonds |  | — |  | 79,064 |  | — |
|  | $ | — |  | $ | 560,172 |  | $ | — |
Derivative assets (1) |  |  |  |  |  |  |
Interest rate lock commitments |  | $ | — |  | $ | 211 |  | $ | — |
Forward commitments |  | 625 |  | 327 |  | — |
|  | $ | 625 |  | $ | 538 |  | $ | — |
Derivative liabilities (1) |  |  |  |  |  |  |
Interest rate lock commitments |  | $ | — |  | $ | 473 |  | $ | — |
Forward commitments |  | — |  | 52 |  | — |
|  | $ | — |  | $ | 525 |  | $ | — |
December 31, 2012 |  |  |  |  |  |  |
Money market funds (“other” segment) |  | $ | — |  | $ | 10 |  | $ | — |
Available-for-sale securities (bank segment) |  |  |  |  |  |  |
Mortgage-related securities-FNMA, FHLMC and GNMA |  | $ | — |  | $ | 417,383 |  | $ | — |
Federal agency obligations |  | — |  | 171,491 |  | — |
Municipal bonds |  | — |  | 82,484 |  | — |
|  | $ | — |  | $ | 671,358 |  | $ | — |
(1) Derivatives are carried at fair value with changes in value reflected in the balance sheet in other assets or other liabilities and included in mortgage banking income.
Schedule of assets measured at fair value on a nonrecurring basis |
|  |  |  | Fair value measurements |
(in millions) |  | Balance |  | Level 1 |  | Level 2 |  | Level 3 |
Loans |  |  |  |  |  |  |  |  |
June 30, 2013 |  | $ | 17 |  | $ | — |  | $ | — |  | $ | 17 |
December 31, 2012 |  | 21 |  | — |  | — |  | 21 |
Real estate acquired in settlement of loans |  |  |  |  |  |  |  |  |
June 30, 2013 |  | $ | 2 |  | — |  | — |  | $ | 2 |
December 31, 2012 |  | 3 |  | — |  | — |  | 3 |
Schedule of significant unobservable inputs used in the fair value measurement |
($ in thousands) |  | Fair value at June 30, 2013 |  | Valuation technique |  | Significant unobservable input |  | Significant unobservable input value |
Residential loans |  | $ | 13,840 |  | Fair value of property or collateral |  | Appraised value |  | 13 - 96% |
Home equity lines of credit |  | 536 |  | Fair value of property or collateral |  | Appraised value |  | 25 - 82% |
Commercial loan |  | 220 |  | Fair value of property or collateral |  | Insurance proceeds |  | 59% |
Commercial loans |  | 892 |  | Fair value of property or collateral |  | Fair value of business assets |  | 37 - 92% |
Commercial loan |  | 1,739 |  | Discounted cash flow |  | Present value of expected future cash flows based on anticipated debt restructuring Discount rate |  | Paydown of loan — 59% 4.5% |
Total commercial loans |  | 2,851 |  |  |  |  |  |  |
Real estate acquired in settlement of loans |  | 2,036 |  | Fair value of property or collateral |  | Appraised value |  | 81 — 100% |

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 -Subparagraph a, b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19296-110258 + Details
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- Definition Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15 -Subparagraph b-d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 18 -Subparagraph c(2), d, e, f -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph a, c(1), c(2), c(3), d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 10 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 14 -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 19 -Subparagraph a, b, c(1), d(1) -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 + Details
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