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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2013
Income Tax Disclosure [Abstract] |
Summary of components of income tax provision | A summary of income tax provision (benefit) follows for the years ended December 31:
| Current |  | Deferred |  | Total
| (In thousands)
2013 |  |  |  |  |
Federal | $ | 29,891 |  |  | $ | 10,341 |  |  | $ | 40,232 |
State | 6,741 |  |  | 5,426 |  |  | 12,167 |
| $ | 36,632 |  |  | $ | 15,767 |  |  | $ | 52,399 |
2012 |  |  |  |  |
Federal | $ | 35,286 |  |  | $ | 5,579 |  |  | $ | 40,865 |
State | 7,256 |  |  | 6,289 |  |  | 13,545 |
| $ | 42,542 |  |  | $ | 11,868 |  |  | $ | 54,410 |
2011 |  |  |  |  |
Federal | $ | 4,154 |  |  | $ | 7,614 |  |  | $ | 11,768 |
State | 2,810 |  |  | 1,082 |  |  | 3,892 |
| $ | 6,964 |  |  | $ | 8,696 |  |  | $ | 15,660 |
Reconciliation of effective tax rate | A reconciliation of the difference between the federal statutory income tax rate and the effective tax rate is shown in the following table for the years ended December 31:
| 2013 |  | 2012 |  | 2011
Statutory tax rate (benefit) | 35 | % |  | 35 | % |  | 35 | %
State taxes (benefit)-net of federal tax effect | 6 | % |  | 6 |  |  | 6 | %
CRA investment tax credit | (2 | ) |  | (2 | ) |  | (3 | )
Other | — |  |  | 1 |  |  | (1 | )
| 39 | % |  | 40 | % |  | 37 | %
Components of deferred tax assets and liabilities | Deferred tax assets and liabilities at December 31, 2013 and 2012 are comprised of the following:
| 2013 |  | 2012
| (In thousands)
Deferred tax assets: |  |  |
Purchase accounting fair value adjustment | $ | 47,588 |  |  | $ | 34,977 |
Statutory bad debt deduction less than financial statement provision | 22,773 |  |  | 26,579 |
Net operating loss carryforward | 5,207 |  |  | 3,901 |
Capital loss carryforward | — |  |  | — |
Investment security provision | 1,657 |  |  | 1,657 |
Lease expense | 1,393 |  |  | 1,321 |
State tax deductions | 1,505 |  |  | 1,771 |
Accrued compensation | 122 |  |  | 116 |
Deferred compensation | 513 |  |  | 600 |
Mark to market on loans held for sale | 1,876 |  |  | 2,891 |
Depreciation | 3,891 |  |  | 1,362 |
Nonaccrual loan interest | 1,119 |  |  | 782 |
Other real estate owned | 2,162 |  |  | 463 |
FDIC loss share receivable | 576 |  |  | — |
Unrealized loss on securities available for sale | 6,445 |  |  | — |
Tax credits | — |  |  | — |
Non-qualified stock option and restricted unit expense | 1,894 |  |  | 2,691 |
Goodwill | 863 |  |  | 1,053 |
Other | 4,441 |  |  | 1,562 |
| 104,025 |  |  | 81,726 |
Deferred tax liabilities: |  |  |
FHLB stock dividends | (854 | ) |  | (1,095 | )
Deferred loan costs | (4,304 | ) |  | (2,724 | )
State taxes deferred and other | (7,049 | ) |  | (7,012 | )
Prepaid expenses | (775 | ) |  | (1,123 | )
FDIC loss share receivable | — |  |  | (1,684 | )
Amortization of intangibles | (1,693 | ) |  | (529 | )
Unrealized gain on securities available for sale | — |  |  | (7,269 | )
Unrealized gain on interest rate swaps | — |  |  | 0 |
Unrealized gain on interest only strips | (53 | ) |  | (50 | )
| (14,728 | ) |  | (21,486 | )
Valuation allowance on capital loss carryforward | — |  |  | — |
Net deferred tax assets: | $ | 89,297 |  |  | $ | 60,240 |
Summary of net operating loss carryforwards | A summary of the Company’s net operating loss carry-forwards is as follows:
|  | FEDERAL |  | STATE
|  | Remaining Amount |  | Expires |  | Annual Limitation |  | Remaining Amount |  | Expires |  | Annual Limitation
|  | (In thousands)
| 2013 |  |  |  |  |  |  |  |  |  |  |
| BBCN Bank | $ | — |  |  | N/A |  | $ | — |  |  | $ | 124 |  |  | 2016 |  | $ | 83 |
| Korea First Bank of New York | 2,979 |  |  | 2019 |  | 497 |  |  | — |  |  | N/A |  | — |
| Asiana | 450 |  |  | 2015 |  | 348 |  |  | 723 |  |  | 2014 |  | 348 |
| Center Bank | — |  |  | N/A |  | N/A |  |  | 13,461 |  |  | 2031 |  | 13,356 |
| PIB | 7,769 |  |  |  |  | 367 |  |  | — |  |  |  |  | — |
| Total | $ | 11,198 |  |  |  |  | $ | 1,212 |  |  | $ | 14,308 |  |  |  |  | $ | 13,787 |
| 2012 |  |  |  |  |  |  |  |  |  |  |
| BBCN Bank | $ | — |  |  | N/A |  | $ | — |  |  | $ | 124 |  |  | 2016 |  | $ | 83 |
| Korea First Bank of New York | 3,476 |  |  | 2019 |  | 497 |  |  | — |  |  | N/A |  | — |
| Asiana | 798 |  |  | 2015 |  | 348 |  |  | 723 |  |  | 2014 |  | 348 |
| Center Bank | — |  |  | N/A |  | N/A |  |  | 26,817 |  |  | 2031 |  | $ | 13,356 |
| Total | $ | 4,274 |  |  |  |  | $ | 845 |  |  | $ | 27,664 |  |  |  |  | $ | 13,787 |
Reconciliation of beginning and ending amount of unrecognized tax benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2013 and 2012 is as follows:
| 2013 |  | 2012
| (In thousands)
Balance at January 1, | $ | 748 |  |  | $ | 569 |
Additions based on tax positions related to the current year | 428 |  |  | 219 |
Additions based on tax positions related to the prior year | 113 |  |  | (40 | )
Additions based on taxing authority examination | 997 |  |  | — |
Settlements with taxing authorities | (997 | ) |  | — |
Balance at December 31, | $ | 1,289 |  |  | $ | 748 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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