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Business Combinations (Tables) | 9 Months Ended
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Sep. 30, 2014
Business Acquisition [Line Items] |
Fair Value of Acquired Loans | The following table presents loans acquired with deteriorated credit quality as of the date of acquisition:
| Foster |  | PIB
| (In thousands)
Contractually required principal and interest at acquisition | $ | 150,430 |  |  | $ | 54,462 |
Contractual cash flows not expected to be collected (nonaccretable discount) | 37,447 |  |  | 9,687 |
Expected cash flows at acquisition | 112,983 |  |  | 44,775 |
Interest component of expected cash flows (accretable discount) | 14,928 |  |  | 4,945 |
Fair value of acquired impaired loans | $ | 98,055 |  |  | $ | 39,830 |
Pro Forma Information | The following unaudited combined pro forma information presents the operating results for the three and nine months ended September 30, 2014 and 2013, as if the Foster and PIB acquisitions had occurred on January 1, 2013:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2014 |  | 2013 |  | 2014 |  | 2013
| (In thousands, except share data)
Net interest income | $ | 67,907 |  |  | $ | 66,353 |  |  | $ | 200,363 |  |  | $ | 196,861 |
Net income | $ | 21,420 |  |  | $ | 22,960 |  |  | $ | 65,928 |  |  | $ | 60,084 |
Pro forma earnings per share: |  |  |  |  |  |  |
Basic | $ | 0.27 |  |  | $ | 0.29 |  |  | $ | 0.83 |  |  | $ | 0.76 |
Diluted | $ | 0.27 |  |  | $ | 0.29 |  |  | $ | 0.83 |  |  | $ | 0.75 |
Foster Bankshares Inc |
Business Acquisition [Line Items] |
Consideration Paid, Assets Acquired and Liabilities Assumed | The consideration paid, the assets acquired, and the liabilities assumed are summarized in the following table:
| (In thousands) |
Consideration paid: |
BBCN common stock issued in exchange for Foster common stock | $ | 2,609 |
Cash paid for the redemption of Foster common stock | 2,042 |
Liability for unredeemed Foster common stock | 116 |
Total consideration paid | $ | 4,767 |
Assets Acquired: |
Cash and cash equivalents | $ | 42,883 |
Investment securities available for sale | 4,844 |
Loans receivable | 255,297 |
FRB and FHLB stock | 1,714 |
OREO | 14,251 |
Premises and equipment | 4,733 |
Core deposit intangibles | 2,763 |
Deferred tax assets, net | 21,211 |
Other assets | 2,353 |
Liabilities Assumed: |
Deposits | (321,596 | )
Borrowings | (18,045 | )
Subordinated debentures | (15,309 | )
Other liabilities | (5,857 | )
Total identifiable net assets | $ | (10,758 | )
Excess of consideration paid over fair value of net assets acquired (goodwill) | $ | 15,525 |
Pacific International Bancorp, Inc. |
Business Acquisition [Line Items] |
Consideration Paid, Assets Acquired and Liabilities Assumed | In connection with the acquisition, the consideration paid, the assets acquired, and the liabilities assumed are summarized in the following table:
| (In thousands) |
Consideration paid:
BBCN common stock issued | $ | 8,437 |
Cash in lieu of fractional shares paid to PIB stockholders | 1 |
Redemption of Preferred Stock | 7,475 |
Total consideration paid | $ | 15,913 |
Assets Acquired:
Cash and cash equivalents | $ | 25,968 |
Investment securities available for sale | 7,810 |
Loans receivable | 131,589 |
FRB and FHLB stock | 1,829 |
OREO | 3,418 |
Deferred tax assets, net | 9,886 |
Core deposit intangibles | 604 |
Other assets | 2,514 |
Liabilities Assumed:
Deposits | (143,665 | )
Borrowings | (14,698 | )
Subordinated debentures | (4,108 | )
Other liabilities | (5,116 | )
Total identifiable net assets | $ | 16,031 |
Bargain purchase gain | $ | 118 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472 + Details
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