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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2015
Fair Value Disclosures [Abstract] |
Assets and Liabilities Measured at Fair Value on Recurring Basis | As of June 30, 2015 and December 31, 2014, assets and liabilities measured at fair value on a recurring basis are as follows:
| Level 1 |  | Level 2 |  | Level 3 |  |
| Quoted Prices in Active Markets for Identical Assets |  | Significant Observable Inputs with No Active Market with Identical Characteristics |  | Significant Unobservable Inputs |  | Balance
| (in thousands)
June 30, 2015 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |
Mortgage-backed securities | $ | — |  |  | $ | 379,568 |  |  | $ | — |  |  | $ | 379,568 |
Collateralized mortgage obligations | — |  |  | 155,369 |  |  | — |  |  | 155,369 |
U.S. government agency securities | — |  |  | 62,661 |  |  | — |  |  | 62,661 |
SBA loan pools securities | — |  |  | 71,686 |  |  | — |  |  | 71,686 |
Municipal bonds-tax exempt | — |  |  | 3,626 |  |  | — |  |  | 3,626 |
Municipal bonds-taxable | — |  |  | 15,832 |  |  | — |  |  | 15,832 |
Corporate bonds | — |  |  | 16,976 |  |  | — |  |  | 16,976 |
U.S. treasury securities | 162 |  |  | — |  |  | — |  |  | 162 |
Other securities | 22,803 |  |  | — |  |  | — |  |  | 22,803 |
Total securities available for sale | $ | 22,965 |  |  | $ | 705,718 |  |  | $ | — |  |  | $ | 728,683 |
December 31, 2014 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Securities available for sale: |  |  |  |  |  |  |
Mortgage-backed securities | $ | — |  |  | $ | 573,286 |  |  | $ | — |  |  | $ | 573,286 |
Collateralized mortgage obligations | — |  |  | 188,047 |  |  | — |  |  | 188,047 |
U.S. government agency securities (1) | — |  |  | 128,207 |  |  | — |  |  | 128,207 |
SBA loan pools securities | — |  |  | 109,447 |  |  | — |  |  | 109,447 |
Municipal bonds-tax exempt | — |  |  | 3,681 |  |  | 709 |  |  | 4,390 |
Municipal bonds-taxable | — |  |  | 16,922 |  |  | — |  |  | 16,922 |
Corporate bonds | — |  |  | 16,948 |  |  | — |  |  | 16,948 |
U.S. treasury securities | 163 |  |  | — |  |  | — |  |  | 163 |
Other securities (2) | 22,893 |  |  | — |  |  | — |  |  | 22,893 |
Equity securities | — |  |  | — |  |  | 414 |  |  | 414 |
Total securities available for sale | $ | 23,056 |  |  | $ | 1,036,538 |  |  | $ | 1,123 |  |  | $ | 1,060,717 |
(1) | U.S. government agency securities of $128.2 million were reclassified as level 2 rather than level 1 as originally classified due to significant other observable inputs other than quoted prices for identical assets in active markets.
(2) | Other securities of $22.9 million were reclassified as level 1 rather than level 2 as originally classified due to the availability of quoted prices in active markets of the holdings.
Reconciliation and Income Statement Classification of Gains and Losses for All Assets and Liabilities | The table below presents a reconciliation and income statement classification of gains and losses for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the six months ended June 30, 2015:
| Beginning Balance as of January 1, 2015 |  | Purchases, Issuances and Settlement |  | Realized Gains or (Losses) in Earnings |  | Unrealized Gains or Losses in Other Comprehensive Income |  | Ending Balance as of June 30, 2015
| (in thousands)
Assets: |  |  |  |  |  |  |  |  |
Municipal bonds-tax exempt (1) | $ | 709 |  |  | $ | (709 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |
Equity securities (2) | $ | 414 |  |  | $ | (339 | ) |  | $ | (75 | ) |  | $ | — |  |  | $ | — |
(1) | A zero coupon tax credit municipal bond matured during the first quarter of 2015.
(2) | Reflects two equity securities that were not actively traded. During the second quarter of 2015, one equity security with a book value of $200,000 with a fair value of $200,000 as of December 31, 2014 was sold at $75,000 loss and the other equity security with a book value of $250,000 with a fair value of $214,000 as of December 31, 2014 was reclassified to other assets.
Assets and Liabilities Measured at Fair Value on Non-Recurring Basis | As of June 30, 2015 and December 31, 2014, assets and liabilities measured at fair value on a non-recurring basis are as follows:
| Level 1 |  | Level 2 |  | Level 3 |  |
| Quoted Prices in Active Markets for Identical Assets |  | Significant Observable Inputs With No Active Market With Identical Characteristics |  | Significant Unobservable Inputs |  | Loss During the six Months Ended June 30, 2015
| (in thousands)
June 30, 2015 |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Impaired loans (excluding PCI loans) (1) | $ | — |  |  | $ | 28,607 |  |  | $ | 3,217 |  |  | $ | 1,579 |
OREO (2) | $ | — |  |  | $ | 11,857 |  |  | $ | — |  |  | $ | 632 |
| Level 1 |  | Level 2 |  | Level 3 |  |
| Quoted Prices in Active Markets for Identical Assets |  | Significant Observable Inputs With No Active Market With Identical Characteristics |  | Significant Unobservable Inputs |  | Loss During the Twelve Months Ended December 31, 2014
| (in thousands)
December 31, 2014 |  |  |
Assets: |  |  |  |  |  |  |
Impaired loans (excluding PCI loans) (3) | $ | — |  |  | $ | 32,171 |  |  | $ | 781 |  |  | $ | 2,774 |
OREO (4) | $ | — |  |  | $ | 15,790 |  |  | $ | — |  |  | $ | — |
(1) | Consists of real estate loans of $29.0 million, commercial and industrial loans of $1.0 million, and consumer loans of $1.8 million.
(2) | Consists of properties obtained from the foreclosure of commercial property loans of $11.7 million and residential property loans of $163,000.
(3) | Consists of real estate loans of $30.0 million, commercial and industrial loans of $1.2 million and consumer loans of $1.7 million.
(4) | Consists of properties obtained from the foreclosure of commercial property loans of $13.2 million and residential property loans of $2.6 million.
Estimated Fair Values of Financial Instruments | The estimated fair values of financial instruments were as follows:
| June 30, 2015
| Carrying |  | Fair Value
| Amount |  | Level 1 |  | Level 2 |  | Level 3
| (in thousands)
Financial assets: |  |  |  |  |  |  |
Cash and cash equivalents | $ | 153,231 |  |  | $ | 153,231 |  |  | $ | — |  |  | $ | — |
Securities available for sale | 728,683 |  |  | 22,965 |  |  | 705,718 |  |  | — |
Loans receivable, net of allowance for loan losses | 2,826,086 |  |  | — |  |  | — |  |  | 2,829,963 |
Loans held for sale | 4,158 |  |  | — |  |  | 4,158 |  |  | — |
Accrued interest receivable | 8,133 |  |  | 8,133 |  |  | — |  |  | — |
Servicing assets | 13,125 |  |  | — |  |  | — |  |  | 13,125 |
Investment in FHLB stock | 16,385 |  |  | — |  |  | 16,385 |  |  | — |
Investment in FRB stock | 13,517 |  |  | — |  |  | 13,517 |  |  | — |
Financial liabilities: |  |  |  |  |  |  |  |
Noninterest-bearing deposits | 1,061,823 |  |  | — |  |  | 1,061,823 |  |  | — |
Interest-bearing deposits | 2,377,958 |  |  | — |  |  | — |  |  | 2,361,096 |
Servicing liabilities | 5,368 |  |  | — |  |  | — |  |  | 5,368 |
Borrowings | 18,623 |  |  | — |  |  | — |  |  | 18,623 |
Accrued interest payable | 3,443 |  |  | 3,443 |  |  | — |  |  | — |
Off-balance sheet items: |  |  |  |  |  |  |  |
Commitments to extend credit | 244,766 |  |  | — |  |  | — |  |  | 244,766 |
Standby letters of credit | 5,426 |  |  | — |  |  | — |  |  | 5,426 |
| December 31, 2014
| Carrying |  | Fair Value
| Amount |  | Level 1 |  | Level 2 |  | Level 3
| (in thousands)
Financial assets: |  |  |  |  |  |  |
Cash and cash equivalents | $ | 158,320 |  |  | $ | 158,320 |  |  | $ | — |  |  | $ | — |
Securities available for sale (1) | 1,060,717 |  |  | 23,056 |  |  | 1,036,538 |  |  | 1,123 |
Loans receivable, net of allowance for loan losses | 2,735,832 |  |  | — |  |  | — |  |  | 2,738,401 |
Loans held for sale | 5,451 |  |  | — |  |  | 5,451 |  |  | — |
Accrued interest receivable | 9,749 |  |  | 9,749 |  |  | — |  |  | — |
Servicing assets | 13,773 |  |  | — |  |  | — |  |  | 13,773 |
Investment in FHLB stock | 17,580 |  |  | — |  |  | 17,580 |  |  | — |
Investment in FRB stock | 12,273 |  |  | — |  |  | 12,273 |  |  | — |
Financial liabilities: |  |  |  |  |  |  |
Noninterest-bearing deposits | 1,022,972 |  |  | — |  |  | 1,022,972 |  |  | — |
Interest-bearing deposits | 2,533,774 |  |  | — |  |  | — |  |  | 2,528,304 |
Servicing liabilities | 5,971 |  |  | — |  |  | — |  |  | 5,971 |
Borrowings | 168,544 |  |  | — |  |  | — |  |  | 168,544 |
Accrued interest payable | 3,450 |  |  | 3,450 |  |  | — |  |  | — |
Off-balance sheet items: |  |  |  |  |  |  |
Commitments to extend credit | 309,584 |  |  | — |  |  | — |  |  | 309,584 |
Standby letters of credit | 8,982 |  |  | — |  |  | — |  |  | 8,982 |
(1) | Level 1 and Level 2 previously reported as $128.4 million and $931.2 million, respectively. U.S. government agency securities of $128.2 million were reclassified as level 2 rather than level 1 as originally classified due to significant other observable inputs other than quoted prices for identical assets in active markets. Other securities of $22.9 million were reclassified as level 1 rather than level 2 as originally classified due to the availability of quoted prices in active markets of the holdings.

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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 Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19296-110258 + Details
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- Definition 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. + 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 (c) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: 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=35750535&loc=d3e13476-108611 Reference 2: 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=36462937&loc=d3e19207-110258 Reference 3: 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=35750535&loc=d3e13467-108611 Reference 4: 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 5: 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 6: 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=35750535&loc=d3e13433-108611 + 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=36462937&loc=d3e19190-110258 + Details
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