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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized below:

					Fair Value Measurements at the End of the Reporting Period Using
	September 30, 2014				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Securities available for sale:
GSE collateralized mortgage obligations	$	273,417			$	—			$	273,417			$	—
GSE mortgage-backed securities	409,809				—				409,809				—
Trust preferred securities	4,050				—				4,050				—
Municipal bonds	6,118				—				4,972				1,146
Mutual funds	17,231				17,231				—				—

					Fair Value Measurements at the End of the Reporting Period Using
	December 31, 2013				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Securities available for sale:
GSE collateralized mortgage obligations	$	274,101			$	—			$	274,101			$	—
GSE mortgage-backed securities	404,996				—				404,996				—
Trust preferred securities	3,697				—				3,697				—
Municipal bonds	5,936				—				4,824				1,112
Mutual funds	17,021				17,021				—				—

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The table below presents a reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended September 30, 2014:

		Nine Months Ended September 30,
		2014				2013
		(In thousands)
Beginning Balance, January 1		$	1,112			$	—
Purchases, issuances and settlements		—				1,202
Amortization		—				(15		)
Total gains or (losses) included in earnings		—				—
Total gains or (losses) included in other comprehensive income		34				(45		)
Ending Balance, September 30		$	1,146			$	1,142

Assets Measured at Fair Value on a Non-recurring Basis

Assets measured at fair value on a non-recurring basis are summarized below:

					Fair Value Measurements at the End of the Reporting Period Using
	September 30, 2014				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Impaired loans at fair value:
Real estate loans	$	40,082			$	—			$	40,082			$	—
Commercial business	2,678				—				2,678				—
Trade finance	768				—				768				—
Consumer	604				—				604				—
Loans held for sale, net	2,578				—				2,578				—
OREO	11,163				—				11,163				—

					Fair Value Measurements at the End of the Reporting Period Using
	December 31, 2013				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Impaired loans at fair value:
Real estate loans	$	18,746			$	—			$	18,746			$	—
Commercial business	2,383				—				2,383				—
Loans held for sale, net	6,900				—				6,900				—
OREO	4,003				—				4,003				—

For assets measured at fair value on a non-recurring basis, the total net gains (losses), which include charge offs, recoveries, specific reserves, and gains and losses on sales recognized are summarized below:

	For the Three Months ended September 30,								For the Nine Months ended September 30,
	2014				2013				2014				2013
	(In thousands)
Assets:
Impaired loans at fair value:
Real estate loans	$	(901	)		$	(1,759	)		$	1,015			$	(9,700	)
Commercial business	(1,921		)		(509		)		(5,337		)		(1,703		)
Trade Finance	(1,036		)		—				(3,232		)		—
Consumer	9				—				158				—
Loans held for sale, net	(224		)		(530		)		(224		)		(530		)
OREO	(600		)		(570		)		(931		)		(956		)

Carrying Amounts and Estimated Fair Values of Financial Instruments

Carrying amounts and estimated fair values of financial instruments, not previously presented, at September 30, 2014 and December 31, 2013 were as follows:

	September 30, 2014
	Carrying Amount				Estimated Fair Value				Fair Value Measurement Using
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	443,320			$	443,320			Level 1
Loans held for sale	45,695				47,851				Level 2
Loans receivable—net	5,364,612				5,724,155				Level 3
FDIC loss share receivable	—				—				Level 3
Customers’ liabilities on acceptances	3,822				3,822				Level 2
Financial Liabilities:
Noninterest bearing deposits	$	1,503,275			$	1,503,275			Level 2
Saving and other interest bearing demand deposits	1,737,420				1,737,420				Level 2
Time deposits	2,269,059				2,273,024				Level 2
FHLB advances	467,071				466,106				Level 2
Subordinated debentures	42,117				44,010				Level 2
Bank’s liabilities on acceptances outstanding	3,822				3,822				Level 2
	December 31, 2013
	Carrying Amount				Estimated Fair Value				Fair Value Measurement Using
	(In thousands)
Financial Assets:
Cash and cash equivalents	$	316,705			$	316,705			Level 1
Loans held for sale	44,115				45,975				Level 2
Loans receivable—net	5,006,856				5,450,008				Level 3
FDIC loss share receivable	1,110				1,110				Level 3
Customers’ liabilities on acceptances	5,602				5,602				Level 2
Financial Liabilities:
Noninterest bearing deposits	$	1,399,454			$	1,399,454			Level 2
Saving and other interest bearing demand deposits	1,598,514				1,598,514				Level 2
Time deposits	2,150,089				2,156,514				Level 2
FHLB advances	421,352				421,258				Level 2
Subordinated debentures	57,410				56,544				Level 2
Bank’s liabilities on acceptances outstanding	5,602				5,602				Level 2

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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).

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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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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).

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