COLUMBIA BANKING SYSTEM, INC., 10-K filed on 3/3/2014
Annual Report
Document and Entity Information (USD $)
12 Months Ended
Dec. 31, 2013
Jan. 31, 2014
Jun. 30, 2013
Document Information [Line Items]
 
 
 
Document Type
10-K 
 
 
Amendment Flag
false 
 
 
Document Period End Date
Dec. 31, 2013 
 
 
Document Fiscal Year Focus
2013 
 
 
Document Fiscal Period Focus
FY 
 
 
Entity Registrant Name
COLUMBIA BANKING SYSTEM INC 
 
 
Entity Central Index Key
0000887343 
 
 
Current Fiscal Year End Date
--12-31 
 
 
Entity Filer Category
Large Accelerated Filer 
 
 
Entity Common Stock, Shares Outstanding
 
51,282,776 
 
Entity Well-known Seasoned Issuer
Yes 
 
 
Entity Voluntary Filers
No 
 
 
Entity Current Reporting Status
Yes 
 
 
Entity Public Float
 
 
$ 1,204,816,739 
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
ASSETS
 
 
Cash and due from banks
$ 165,030 
$ 124,573 
Interest-earning deposits with banks
14,531 
389,353 
Total cash and cash equivalents
179,561 
513,926 
Securities available for sale at fair value (amortized cost of $1,680,491 and $969,359, respectively)
1,664,111 
1,001,665 
Federal Home Loan Bank stock at cost
32,529 
21,819 
Loans held for sale
735 
2,563 
Loans, net
4,444,842 
2,864,803 
FDIC loss sharing asset
39,846 
96,354 
Interest receivable
22,206 
14,268 
Premises and equipment, net
154,732 
118,708 
Other real estate owned ($12,093 and $16,311 covered by FDIC loss share, respectively)
35,927 
26,987 
Goodwill
343,952 
115,554 
Core deposit intangible, net
25,852 
15,721 
Other assets
217,289 
113,967 
Total Assets
7,161,582 
4,906,335 
LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
Noninterest-bearing
2,171,703 
1,321,171 
Interest-bearing
3,787,772 
2,720,914 
Total deposits
5,959,475 
4,042,085 
Federal Home Loan Bank advances
36,606 
6,644 
Securities sold under agreements to repurchase
25,000 
25,000 
Other liabilities
87,252 
68,598 
Total liabilities
6,108,333 
4,142,327 
Commitments and contingent liabilities
   
   
Preferred Stock, Shares Authorized
2,000 
0 
Preferred Stock, Shares Issued
9 
0 
Preferred Stock, Value, Issued
2,217 
0 
Shareholders' equity:
 
 
Authorized shares
63,033 
63,033 
Common Stock Shares Issued And Outstanding
51,265 
39,686 
Common Stock (no par value)
860,562 
581,471 
Retained earnings
202,514 
162,388 
Accumulated Other Comprehensive Income (Loss), Net of Tax
(12,044)1
20,149 1
Total shareholders' equity
1,053,249 
764,008 
Total Liabilities and Shareholders' Equity
7,161,582 
4,906,335 
Noncovered Loans [Member]
 
 
ASSETS
 
 
Loans held for sale
735 
2,563 
Loans, excluding covered loans, net of unearned income of ($68,282) and ($7,767), respectively
4,219,451 
2,525,710 
Loans and Leases Receivable, Allowance
52,280 
52,244 
Loans, net
4,167,171 
2,473,466 
Other real estate owned ($12,093 and $16,311 covered by FDIC loss share, respectively)
23,834 
10,676 
Covered Loans [Member]
 
 
ASSETS
 
 
Loans and Leases Receivable, Allowance
20,174 
30,056 
Loans, net
277,671 
391,337 
Other real estate owned ($12,093 and $16,311 covered by FDIC loss share, respectively)
$ 12,093 
$ 16,311 
Consolidated Balance Sheets (Parenthetical) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Securities available-for-sale, amortized cost
$ 1,680,491 
$ 969,359 
Other real estate owned covered by FDIC loss share
35,927 
26,987 
Common stock, par value
$ 0 
$ 0 
Common stock, shares authorized
63,033 
63,033 
Common stock, outstanding
51,265 
39,686 
Noncovered Loans [Member]
 
 
Unearned income on loans
(68,282)
(7,767)
Allowance for losses
(52,280)
(52,244)
Other real estate owned covered by FDIC loss share
23,834 
10,676 
Covered Loans [Member]
 
 
Allowance for losses
(20,174)
(30,056)
Other real estate owned covered by FDIC loss share
$ 12,093 
$ 16,311 
Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Interest Income
 
 
 
Loans
$ 266,284 
$ 219,433 
$ 218,420 
Taxable securities
20,459 
18,276 
21,870 
Tax-exempt securities
9,837 
9,941 
10,142 
Federal funds sold and deposits in banks
355 
854 
839 
Total interest income
296,935 
248,504 
251,271 
Interest Expense
 
 
 
Deposits
3,962 
5,887 
10,478 
Federal Home Loan Bank and Federal Reserve Bank borrowings
(404)
2,608 
2,980 
Prepayment charge on Federal Home Loan Bank advances
1,548 
603 
0 
Long-term obligations
0 
0 
579 
Other borrowings
734 
479 
498 
Total interest expense
5,840 
9,577 
14,535 
Net Interest Income
291,095 
238,927 
236,736 
Provision (recapture) for loan and lease losses
(101)
39,367 
5,752 
Net interest income after provision (recapture) for loan and lease losses
291,196 
199,560 
230,984 
Noninterest Income (Loss)
 
 
 
Service charges and other fees
48,351 
29,998 
26,632 
Gain on bank acquisitions, net of tax
0 
0 
1,830 
Merchant services fees
8,812 
8,154 
7,385 
Gain on sale of investment securities, net
462 
3,733 
(2,816)
Bank owned life insurance
3,570 
2,861 
2,188 
Change in FDIC loss sharing asset
(45,017)
(24,467)
(49,496)
Other
10,522 
6,779 
4,994 
Total noninterest income (loss)
26,700 
27,058 
(9,283)
Noninterest Expense
 
 
 
Compensation and employee benefits
125,432 
85,434 
81,552 
Occupancy
33,054 
20,031 
18,963 
Merchant processing
3,551 
3,612 
3,698 
Advertising and promotion
4,090 
3,650 
3,686 
Data processing
14,076 
9,714 
8,484 
Legal and professional fees
12,338 
8,915 
6,486 
Taxes, licenses and fees
5,033 
4,736 
4,446 
Regulatory premiums
4,706 
3,384 
4,337 
Net cost (benefit) of operation of other real estate owned
(7,401)
(1,969)
(1,022)
Amortization of intangibles
6,045 
4,445 
4,319 
FDIC clawback liability
278 
(54)
3,656 
Other
29,684 
21,015 
17,154 
Total noninterest expense
230,886 
162,913 
155,759 
Income (loss) before income taxes
87,010 
63,705 
65,942 
Provision (benefit) for income taxes
26,994 
17,562 
17,905 
Net Income (Loss)
60,016 
46,143 
48,037 
Per Common Share
 
 
 
Earnings (loss) basic (dollars per share)
$ 1.24 1
$ 1.16 1
$ 1.22 
Earnings (loss) diluted (dollars per share)
$ 1.21 1
$ 1.16 1
$ 1.21 
Common Stock, Dividends, Per Share, Cash Paid
$ 0.41 
$ 0.98 
$ 0.27 
Weighted average number of common shares outstanding
47,993 
39,260 
39,103 
Weighted average number of diluted common shares outstanding
49,051 
39,263 
39,180 
Noncovered Loans [Member]
 
 
 
Interest Expense
 
 
 
Provision (recapture) for loan and lease losses
3,160 
13,475 
7,400 
Covered Loans [Member]
 
 
 
Interest Expense
 
 
 
Provision (recapture) for loan and lease losses
$ (3,261)
$ 25,892 
$ (1,648)
Consolidated Statements of Comprehensive Income (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Net income (loss)
$ 60,016 
$ 46,143 
$ 48,037 
Unrealized gain from securities:
 
 
 
Net unrealized holding gain from available for sale securities arising during the period, net of tax of $17,498, $1,902 and ($7,462)
(30,727)
(2,609)
13,285 
Reclassification adjustment of net gain from sale of available for sale securities included in income, net of tax of $163, $1,316 and $48
(299)
(2,417)
(85)
Net unrealized gain from securities, net of reclassification adjustment
(31,026)
(5,026)
13,200 
Cash flow hedging instruments:
 
 
 
Reclassification adjustment of net gain included in income, net of tax of $0, $0 and $79
0 
0 
(143)
Net change in cash flow hedging instruments
0 
0 
(143)
Pension plan liability adjustment:
 
 
 
Unrecognized net actuarial gain (loss) during the period, net of tax of $780, $0 and $154
(1,432)
0 
(260)
Less: amortization of unrecognized net actuarial loss included in net periodic pension cost, net of tax of ($135), ($38) and ($31)
265 
42 
55 
Pension plan liability adjustment, net
(1,167)
42 
(205)
Other comprehensive income
(32,193)1
(4,984)
12,852 
Comprehensive income
$ 27,823 
$ 41,159 
$ 60,889 
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Net unrealized holding gain from available for sale securities arising during the period, tax
$ (17,498)
$ (1,902)
$ 7,462 
Reclassification adjustment of net gain from sale of available for sale securities included in income, tax
163 
1,316 
48 
Reclassification adjustment of net gain included in income, tax
0 
0 
79 
Net unrealized gain from unfunded defined benefit plan liability arising during the period, tax
780 
0 
154 
Less: amortization of unrecognized net actuarial loss included in net periodic pension cost, tax
$ (135)
$ (38)
$ (31)
Consolidated Statements of Changes in Shareholders' Equity (USD $)
In Thousands, except Share data
Total
Preferred Stock [Member]
Common Stock [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Income [Member]
Series B Preferred Stock [Member]
Balance, value at Dec. 31, 2010
$ 706,878 
$ 0 
$ 576,905 
$ 117,692 
$ 12,281 
 
Balance (in shares) at Dec. 31, 2010
 
0 
39,338,000 
 
 
 
Common Stock, Dividends, Per Share, Cash Paid
$ 0.27 
 
 
 
 
 
Net income (loss)
48,037 
 
 
48,037 
 
 
Other comprehensive income
12,852 
 
 
 
12,852 
 
Issuance of common stock - stock option and other plans, value
848 
 
848 
 
 
 
Issuance of common stock - stock option and other plans, shares
 
 
51,000 
 
 
 
Issuance of common stock - restricted stock awards, net of canceled awards, value
1,635 
 
1,635 
 
 
 
Issuance of common stock - restricted stock awards, net of canceled awards, shares
 
 
119,000 
 
 
 
Tax benefit deficiency associated with share-based compensation
 
 
(220)
 
 
 
Purchase and retirement of common stock (in shares)
 
 
2,000 
 
 
 
Purchase and retirement of common stock, value
(32)
 
32 
 
 
 
Preferred dividends
 
 
 
0 
 
 
Cash dividends paid on common stock
(10,660)
 
 
(10,660)
 
 
Preferred Stock, Dividends, Per Share, Cash Paid
$ 0.00 
 
 
 
 
 
Balance, value at Dec. 31, 2011
759,338 
0 
579,136 
155,069 
25,133 
 
Balance (in shares) at Dec. 31, 2011
 
0 
39,506,000 
 
 
 
Common Stock, Dividends, Per Share, Cash Paid
$ 0.98 
 
 
 
 
 
Net income (loss)
46,143 
 
 
46,143 
 
 
Other comprehensive income
(4,984)
 
 
 
(4,984)
 
Issuance of common stock - stock option and other plans, value
713 
 
713 
 
 
 
Issuance of common stock - stock option and other plans, shares
 
 
40,000 
 
 
 
Issuance of common stock - restricted stock awards, net of canceled awards, value
1,622 
 
1,622 
 
 
 
Issuance of common stock - restricted stock awards, net of canceled awards, shares
 
 
140,000 
 
 
 
Cash dividends paid on common stock
(38,824)
 
 
(38,824)
 
 
Preferred Stock, Dividends, Per Share, Cash Paid
$ 0.00 
 
 
 
 
 
Balance, value at Dec. 31, 2012
764,008 
0 
581,471 
162,388 
20,149 
 
Balance (in shares) at Dec. 31, 2012
 
0 
39,686,000 
 
 
 
Common Stock, Dividends, Per Share, Cash Paid
$ 0.41 
 
 
 
 
 
Net income (loss)
60,016 
 
 
60,016 
 
 
Other comprehensive income
(32,193)
 
 
 
(32,193)
 
Issuance of common stock, net of offering costs, value
276,181 
 
273,964 
 
 
2,217 
Stock Adjustment Value Deferred Compensation
517 
 
 
 
 
 
Issuance of common stock, net of offering costs, shares
 
 
11,380,000 
 
 
9,000 
Issuance of common stock - stock option and other plans, value
1,243 
 
1,243 
 
 
 
Issuance of common stock - stock option and other plans, shares
36,037 
 
73,000 
 
 
 
Issuance of common stock - restricted stock awards, net of canceled awards, value
2,693 
 
2,693 
 
 
 
Issuance of common stock - restricted stock awards, net of canceled awards, shares
 
 
144,000 
 
 
 
Tax benefit deficiency associated with share-based compensation
1,103 
 
1,103 
 
 
 
Purchase and retirement of common stock (in shares)
 
 
(18,000)
 
 
 
Purchase and retirement of common stock, value
(429)
 
(429)
 
 
 
Dividends, Preferred Stock, Cash
(32)
 
 
 
 
 
Cash dividends paid on common stock
(19,858)
 
 
(19,858)
 
 
Preferred Stock, Dividends, Per Share, Cash Paid
$ 0.31 
 
 
 
 
 
Balance, value at Dec. 31, 2013
$ 1,053,249 
$ 2,217 
$ 860,562 
$ 202,514 
$ (12,044)
 
Balance (in shares) at Dec. 31, 2013
 
9,000 
51,265,000 
 
 
 
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash Flows From Operating Activities
 
 
 
Net Income (Loss)
$ 60,016 
$ 46,143 
$ 48,037 
Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Provision for loan and lease losses and losses on covered loans
(101)
39,367 
5,752 
Stock-based compensation expense
2,844 
1,622 
1,635 
Depreciation, amortization and accretion
40,431 
57,305 
46,121 
Net realized gain on FDIC assisted bank acquisitions
0 
0 
(1,830)
Net realized gain on sale of securities
(462)
(3,733)
2,816 
Net realized (gain) loss on sale of other assets
(48)
(456)
79 
Net realized (gain) loss on sale of other real estate owned
(10,539)
(11,634)
(9,310)
Gain on termination of cash flow hedging instruments
0 
0 
(222)
Write-down on other real estate owned
2,035 
8,300 
6,307 
Deferred income tax expense (benefit)
5,413 
(3,656)
(3,783)
Net change in:
 
 
 
Loans held for sale
1,828 
(415)
(1,394)
Interest receivable
(7,938)
1,019 
(1,243)
Interest payable
(122)
(629)
(403)
Other assets
(3,385)
(2,113)
(19,248)
Other liabilities
(10,336)
3,779 
13,110 
Net cash provided by operating activities
79,636 
134,899 
86,424 
Cash Flows From Investing Activities
 
 
 
Loans originated and acquired, net of principal collected
161,827 
92,088 
110,577 
Purchases of securities available for sale
(457,985)
(322,342)
(453,043)
Purchases of premises and equipment
(13,133)
(17,137)
(15,088)
Proceeds from FDIC reimbursement on loss-sharing asset
9,246 
54,649 
54,200 
Proceeds from sales of securities available for sale
166,881 
95,165 
72,523 
Proceeds from principal repayments and maturities of securities available for sale
293,940 
236,749 
148,583 
Proceeds from sales of loans held for investment and other assets
4,031 
4,414 
46 
Proceeds from sales of covered other real estate owned
22,046 
33,315 
20,619 
Proceeds from sales of other real estate and other personal property owned
14,407 
15,689 
12,278 
Proceeds from termination of trust subsidiaries
0 
0 
774 
Capital improvements on other real estate properties
(3,577)
(11)
(735)
Increase (decrease) in Small Business Administration secured borrowings
0 
0 
(642)
Payments to Acquire Intangible Assets
(919)
0 
0 
Net cash acquired in business combinations
(154,170)
0 
247,792 
Net cash (used in) provided by investing activities
(281,060)
8,403 
(23,270)
Cash Flows From Financing Activities
 
 
 
Net increase (decrease) in deposits
33,983 
226,556 
(204,586)
Proceeds from exercise of stock options
1,092 
713 
848 
Proceeds from excess tax benefit from stock-based compensation
1,203 
0 
98 
Proceeds from Federal Home Loan Bank advances
1,215,100 
100 
100 
Proceeds from Federal Reserve Bank borrowings
50 
100 
100 
Repayment of Federal Home Loan Bank advances
(1,313,000)
(112,210)
(42,989)
Repayment of Federal Reserve Bank borrowings
(50)
(100)
(100)
Payment of preferred stock dividends
(32)
0 
0 
Payment of common stock dividends
(19,858)
(38,824)
(10,660)
Repayment of long-term subordinated debt
(51,000)
0 
(25,774)
Payment for purchase and retirement of common stock
(429)
0 
(32)
Net cash used in financing activities
(132,941)
76,335 
(282,995)
Increase (decrease) in cash and cash equivalents
(334,365)
219,637 
(219,841)
Cash and cash equivalents at beginning of period
513,926 
294,289 
514,130 
Cash and cash equivalents at end of period
179,561 
513,926 
294,289 
Supplemental Information:
 
 
 
Cash paid for interest
5,962 
10,206 
14,938 
Cash paid for income tax
26,754 
11,927 
23,025 
Non-cash investing activities
 
 
 
Assets acquired in FDIC assisted acquisitions (excluding cash and cash equivalents)
0 
0 
485,870 
Liabilities assumed in FDIC assisted acquisitions
0 
0 
731,832 
Loans transferred to other real estate owned
18,100 
21,627 
24,357 
Stock Issued
$ 276,181 
$ 0 
$ 0 
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies
Organization
Columbia Banking System, Inc. (the “Corporation”) is the holding company for Columbia State Bank (the “Bank”) and West Coast Trust Company, Inc. ("West Coast Trust"). The Bank provides a full range of financial services through 142 branch locations, including 80 in the State of Washington and 62 in Oregon. West Coast Trust provides fiduciary, agency, trust and related services, and life insurance products. Because the Bank comprises substantially all of the business of the Corporation, references to the “Company” mean the Corporation and the Bank together. The Corporation is approved as a bank holding company pursuant to the Gramm-Leach-Bliley Act of 1999.
The Company’s accounting and reporting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) and practices in the financial services industry. To prepare the financial statements in conformity with GAAP, management must make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, and income and expenses during the reporting period. Circumstances and events that differ significantly from those underlying our estimates and assumptions could cause actual financial results to differ from our estimates. The most significant estimates included in the financial statements relate to the allowance for loan and lease losses, business combinations, acquired impaired loans, Federal Deposit Insurance Corporation loss sharing asset and goodwill impairment.
The Company has applied its accounting policies and estimation methods consistently in all periods presented in these financial statements (to the periods in which they applied), except for the adoption of Accounting Standards Update ("ASU") 2012-06 as noted below under the heading "Accounting Pronouncements."
Consolidation
The consolidated financial statements of the Company include the accounts of the Corporation and its subsidiaries, including the Bank and West Coast Trust. Intercompany balances and transactions have been eliminated in consolidation.
Cash and cash equivalents
Cash and cash equivalents include cash and due from banks, and interest bearing balances due from correspondent banks and the Federal Reserve Bank. Cash and cash equivalents have a maturity of 90 days or less at the time of purchase.
Securities
Securities are classified based on management’s intention on the date of purchase. All securities are classified as available for sale and are presented at fair value. Unrealized gains or losses on securities available for sale are excluded from net income but are included as separate components of other comprehensive income, net of taxes. Purchase premiums or discounts on securities available for sale are amortized or accreted into income using the interest method over the terms of the individual securities. The Company performs a quarterly assessment to determine whether a decline in fair value below amortized cost is other-than-temporary. Amortized cost includes adjustments made to the cost of an investment for accretion, amortization, collection of cash and previous other-than temporary impairment recognized in earnings. Other-than-temporary impairment exists when it is probable that the Company will be unable to recover the entire amortized cost basis of the security.
In performing the quarterly assessment for debt securities, management considers whether or not the Company expects to recover the entire amortized cost basis of the security. In addition, management also considers whether it is more likely than not that it will not have to sell the security before recovery of its cost basis. If the Company intends to sell a security or it is more likely than not it will be required to sell a security prior to recovery of its cost basis, the entire amount of impairment is recognized in earnings. If the Company does not intend to sell the security or it is not more likely than not it will be required to sell the security prior to recovery of its cost basis, the credit loss component of impairment is recognized in earnings and impairment associated with non-credit factors, such as market liquidity, is recognized in other comprehensive income net of tax. A credit loss is the difference between the cost basis of the security and the present value of cash flows expected to be collected, discounted at the security's effective interest rate at the date of acquisition. The cost basis of an other-than-temporarily impaired security is written down by the amount of impairment recognized in earnings. The new cost basis is not adjusted for subsequent recoveries in fair value. However, the difference between the new amortized cost basis and the cash flows expected to be collected is accreted as interest income. The total other-than-temporary impairment is presented in the consolidated statements of income with a reduction for the amount of other-than-temporary impairment that is recognized in other comprehensive income, if any.
Realized gains or losses on sales of securities available for sale are recorded using the specific identification method.
Federal Home Loan Bank Stock
The Company’s investment in Federal Home Loan Bank (“FHLB”) stock is carried at par value because the shares can only be redeemed with the FHLB at par. The Company is required to maintain a minimum level of investment in FHLB stock based on specific percentages of its outstanding mortgages and FHLB advances. Stock redemptions are at the discretion of the FHLB or of the Company, upon five years’ prior notice for FHLB Class B stock or six months notice for FHLB Class A stock to the FHLB. FHLB stock is carried at cost and is subject to recoverability testing per the Financial Services—Depository and Lending topic of the FASB Accounting Standards Codification (“ASC”).
Loans
Loans are generally carried at the unpaid principal balance, net of premiums, unearned discounts and net deferred loan fees. Net deferred loan fees include deferred unamortized fees less direct incremental loan origination costs. Net deferred loan fees, premiums and unearned discounts on loans are recognized in interest income using either the interest method or straight-line method over the terms of the loans, adjusted for actual prepayments. Interest income is accrued as earned. Fees related to lending activities other than the origination or purchase of loans are recognized as noninterest income during the period the related services are performed.
Nonaccrual loans—Loans are placed on nonaccrual status when a loan becomes contractually past due 90 days with respect to interest or principal unless the loan is both well secured and in the process of collection, or if full collection of interest or principal becomes uncertain. When a loan is placed on nonaccrual status, any accrued and unpaid interest receivable is reversed and the recognition of net deferred loan fees, premiums and unearned discounts ceases. Thereafter, interest collected on the loan is accounted for on the cash collection or cost recovery method until qualifying for return to accrual status. Generally, a loan may be returned to accrual status when the delinquent principal and interest are brought current in accordance with the terms of the loan agreement for a minimum period of six months and future payments are reasonably assured.
Impaired loans—Loans are considered impaired when based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement or when a loan has been modified in a troubled debt restructuring. The assessment for impairment occurs when and while such loans are designated as classified per the Company’s internal risk rating system or when and while such loans are on nonaccrual. All nonaccrual loans greater than $500,000 are considered impaired and analyzed individually on a quarterly basis. Classified loans with an outstanding balance greater than $500,000 are evaluated for potential impairment on a quarterly basis.
When a loan with unique risk characteristics has been identified as being impaired, the amount of impairment will be measured by the Company using discounted cash flows, except when it is determined that the primary (remaining) source of repayment for the loan is the operation or liquidation of the underlying collateral. In these cases, the current fair value of the collateral, reduced by costs to sell, will be used in place of discounted cash flows. As a final alternative, the observable market price of the debt may be used to assess impairment. Predominantly, the Company uses the fair value of collateral approach based upon a reliable valuation.
When the measurement of the impaired loan is less than the recorded amount of the loan, an impairment is recognized by recording a charge-off to the allowance for loan and lease losses or by designating a specific reserve. The Company’s policy is to record cash receipts received on impaired loans first as reductions to principal and then to interest income.
Restructured Loans—A loan is classified as a troubled debt restructuring when a borrower is experiencing financial difficulties that lead to a restructuring of the loan, and the Company grants concessions to the borrower in the restructuring that it would not otherwise consider. These concessions may include interest rate reductions, principal forgiveness, extension of maturity date and other actions intended to minimize potential losses. Generally, a nonaccrual loan that is restructured remains on nonaccrual status for a period of six months to demonstrate that the borrower can meet the restructured terms. If the borrower's performance under the new terms is not reasonably assured, the loan remains classified as a nonaccrual loan.
Acquired Impaired Loans—Loans acquired with evidence of credit deterioration since origination for which it is probable that all contractually required payments will not be collected are accounted for under ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality, formerly SOP 03-3 Accounting for Certain Loans or Debt Securities Acquired in a Transfer. In addition, because of the significant discounts associated with certain of the acquired loan portfolios, the Company elected to account for those certain acquired loans under ASC 310-30.
In situations where such loans have similar risk characteristics, loans are aggregated into pools to estimate cash flows. A pool is accounted for as a single asset with a single interest rate, cumulative loss rate and cash flow expectation. Expected cash flows at the acquisition date in excess of the fair value of loans are considered to be accretable yield, which is recognized as interest income over the life of the loan pool using a level yield method if the timing and amount of the future cash flows of the pool is reasonably estimable. Subsequent to the acquisition date, any increases in cash flow over those expected at purchase date in excess of fair value are recorded as interest income prospectively. Any subsequent decreases in cash flow over those expected at purchase date due to credit deterioration are recognized by recording an allowance for losses on covered loans. Any disposals of loans, including sales of loans, payments in full or foreclosures result in the removal of the loan from the loan pool at the carrying amount.
Covered Loans—The term covered loans refers to acquired loans that are covered under a loss-sharing agreement with the FDIC. At December 31, 2013, approximately 96% of covered loans were subject to an FDIC loss-sharing agreements and approximately 90% were accounted for as acquired, impaired loans. See Acquired Impaired Loans for further discussion.
Unfunded loan commitments—Unfunded commitments are generally related to providing credit facilities to clients of the Bank and are not actively traded financial instruments. These unfunded commitments are disclosed as financial instruments with off-balance sheet risk in Note 16 in the Notes to Consolidated Financial Statements.
Allowance for Loan and Lease Losses
The Company accounts for the credit risk associated with lending activities through its allowance for loan and lease losses and provision for loan and lease losses. The provision is the expense recognized in the consolidated statements of income to adjust the allowance to the levels deemed appropriate by management, as determined through application of the Company’s allowance methodology procedures. The provision for loan and lease losses reflects management’s judgment of the adequacy of the allowance for loan and lease losses. Loan and lease losses are charged against the allowance when management believes the collectability of a loan balance is unlikely. Subsequent recoveries, if any, are credited to the allowance.
The allowance for loan and lease losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, and estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available.
The allowance consists of general, specific, and unallocated components. The general component covers loans not specifically measured for impairment and is based on historical loss experience adjusted for qualitative factors. The specific component relates to loans that are impaired. For impaired loans an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The unallocated allowance provides for other credit losses inherent in the Company’s loan portfolio that may not have been contemplated in the general and specific components of the allowance. This unallocated amount generally comprises less than 5% of the allowance. The unallocated amount is reviewed periodically based on trends in credit losses, the results of credit reviews and overall economic trends.
Allowance for Unfunded Commitments and Letters of Credit
The allowance for unfunded commitments is maintained at a level believed by management to be sufficient to absorb estimated probable losses related to these unfunded credit facilities. The determination of the adequacy of the allowance is based on periodic evaluations of the unfunded credit facilities including an assessment of the probability of commitment usage, credit risk factors for loans outstanding to these same customers, and the terms and expiration dates of the unfunded credit facilities. The allowance for unfunded commitments is included in other liabilities on the consolidated balance sheets, with changes to the balance charged against noninterest expense.
Allowance for Loan Losses on Covered Loans
The Company updates its cash flow projections for covered loans accounted for under ASC 310-30 on a quarterly basis. Assumptions utilized in this process include projections related to probability of default, loss severity, prepayment and recovery lag. Projections related to probability of default and prepayment are calculated utilizing a loan migration analysis. The loan migration analysis is a matrix of probability that is used to estimate the probability of a loan pool transitioning into a particular delinquency state given its delinquency state at the remeasurement date. Loss severity factors are based upon either actual charge-off data within the loan pools or industry averages and recovery lags are based upon the collateral within the loan pools.
Any decreases in expected cash flows after the acquisition date and subsequent measurement periods are recognized by recording a provision for loan losses. See Acquired Impaired Loans for further discussion.
Premises and Equipment
Land, buildings, leasehold improvements and equipment are stated at cost less accumulated depreciation and amortization. Gains or losses on dispositions are reflected in current operations. Expenditures for improvements and major renewals are capitalized, and ordinary maintenance, repairs and small purchases are charged to operating expenses. Depreciation and amortization are computed based on the straight-line method over the estimated useful lives of the various classes of assets. The ranges of useful lives for the principal classes of assets are as follows:
Buildings and building improvements
5 to 39 years
Leasehold improvements
Term of lease or useful life, whichever is shorter
Furniture, fixtures and equipment
3 to 7 years
Vehicles
5 years
Computer software
3 to 5 years

Software
Capitalized software is stated at cost, less accumulated amortization. Amortization is computed on a straight-line basis and charged to expense over the estimated useful life of the software which is generally three years. Capitalized software is included in Premises and equipment, net in the Consolidated Balance Sheets.
Other Real Estate Owned
Other real estate owned (“OREO”) is composed of real estate acquired in satisfaction of loans. Properties acquired by foreclosure or deed in lieu of foreclosure are transferred to OREO and are recorded at fair value less estimated costs to sell, at the date of transfer of the property. If the carrying value exceeds the fair value at the time of the transfer, the difference is charged to the allowance for loan and lease losses. The fair value of the OREO property is based upon current appraisal. Losses that result from the ongoing periodic valuation of these properties are charged to the net cost of operation of OREO in the period in which they are identified. Improvements to the OREO are capitalized and holding costs are charged to the net cost of operation of OREO as incurred.
Covered OREO—Covered OREO includes acquired OREO that is covered under a loss-sharing agreement with the FDIC. These assets were recorded at their fair value on acquisition date. Covered OREO is reported in Other real estate owned in the Consolidated Balance Sheets. Covered OREO is reported exclusive of expected reimbursement cash flows from the FDIC. Upon transferring covered loan collateral to covered OREO status, valuation adjustments arising from acquisition accounting on the related loan are also transferred to covered OREO. Valuation adjustments arising from acquisition accounting on covered OREO result in a reduction of the covered OREO carrying amount and a corresponding increase in the expected FDIC reimbursement, with the estimated net loss to the Company, if any, charged against earnings.
FDIC Loss-sharing Asset
The acquisition date fair value of the reimbursement the Company expected to receive from the FDIC under loss-sharing agreements was recorded in the FDIC loss-sharing asset on the Consolidated Balance Sheet. Subsequent to initial recognition, the FDIC loss-sharing asset is reviewed quarterly and adjusted for any changes in expected cash flows. These adjustments are measured on the same basis as the related covered assets. Any decrease in expected cash flows for the covered assets due to an increase in expected credit losses will increase the FDIC loss-sharing asset and any increase in expected future cash flows for the covered assets due to a decrease in expected credit losses will decrease the FDIC loss-sharing asset. Changes in the estimated cash flows on covered assets that are immediately recognized in income generally result in a similar immediate adjustment to the loss-sharing asset while changes in expected cash flows on covered assets that are accounted for as an adjustment to yield generally result in adjustments to the amortization or accretion rate for the loss-sharing asset. Increases and decreases to the FDIC loss-sharing asset are recorded as adjustments to noninterest income.
Goodwill and Intangibles
Net assets of companies acquired in purchase transactions are recorded at fair value at the date of acquisition. Identified intangibles are amortized on an accelerated basis over the period benefited. Goodwill is not amortized but is reviewed for potential impairment during the third quarter on an annual basis or, more frequently, if events or circumstances indicate a potential impairment, at the reporting unit level. A reporting unit is an operating segment or one level below an operating segment for which discrete financial information is available and regularly reviewed by management. The Company consists of a single reporting unit. If the fair value of the reporting unit, including goodwill, is determined to be less than the carrying amount of the reporting unit, a further test is required to measure the amount of impairment. If an impairment loss exists, the carrying amount of goodwill is adjusted to a new cost basis. Subsequent reversal of a previously recognized goodwill impairment loss is prohibited.
Intangible assets are evaluated for impairment if events and circumstances indicate a possible impairment. Such evaluation of other intangible assets is based on undiscounted cash flow projections. At December 31, 2013, intangible assets included on the consolidated balance sheets consist of a core deposit intangible amortized using an accelerated method with an original estimated life 10 years.
Income Taxes
The provision for income taxes includes current and deferred income tax expense on net income adjusted for permanent and temporary differences such as interest income on state and municipal securities and affordable housing credits. Deferred tax assets and liabilities are recognized for the expected future tax consequences of existing temporary differences between the financial reporting and tax reporting basis of assets and liabilities using enacted tax laws and rates. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. On a quarterly basis, management evaluates deferred tax assets to determine if these tax benefits are expected to be realized in future periods. This determination is based on facts and circumstances, including the Company’s current and future tax outlook. To the extent a deferred tax asset is no longer considered “more likely than not” to be realized, a valuation allowance is established.
Advertising
Advertising costs are generally expensed as incurred.
Earnings per Common Share
The Company's capital structure includes convertible preferred shares, common shares, restricted common shares, common share options, and warrants to purchase common shares. Restricted common shares participate in dividends declared on common shares at the same rate as common shares. Preferred shares participate in dividends declared on common shares on an "as if converted" basis. Accordingly, the Company calculates earnings per common share (“EPS”) using the two-class method under the Earnings per Share topic of the FASB ASC. The two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that otherwise would have been available to common shareholders but does not require the presentation of basic and diluted EPS for securities other than common shares.
Under the two-class method, basic EPS is computed by dividing earnings allocated to common shareholders by the weighted average number of common shares outstanding for the period. Earnings allocated to common shareholders represents net income reduced by earnings allocated to participating securities. Common shares outstanding include common stock and vested restricted stock awards. Diluted EPS is computed in the same manner as basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if certain shares issuable upon exercise of options and warrants were included unless those additional shares would have been anti-dilutive. For the diluted EPS computation, the treasury stock method is applied and compared to the two-class method and whichever method results in a more dilutive impact is utilized to calculate diluted EPS.
Share-Based Payment
The Company accounts for stock options and stock awards in accordance with the Compensation—Stock Compensation topic of the FASB ASC. Authoritative guidance requires the Company to measure the cost of employee services received in exchange for an award of equity instruments, such as stock options or stock awards, based on the fair value of the award on the grant date. This cost must be recognized in the consolidated statements of income over the vesting period of the award.
The Company issues restricted stock awards which generally vest over a four- or five-year period during which time the holder receives dividends and has full voting rights. Restricted stock is valued at the closing price of the Company’s stock on the date of an award.
Derivatives and Hedging Activities
In accordance with the Derivatives and Hedging topic of the FASB ASC, the Company recognizes derivatives as assets or liabilities on the consolidated balance sheets at their fair value. The treatment of changes in the fair value of derivatives depends on the character of the transaction.
The Company enters into derivative contracts to add stability to interest income and to manage its exposure to changes in interest rates. On the date the Company enters into a derivative contract, the derivative instrument is designated as: (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (a “fair value” hedge); (2) a hedge of the variability in expected future cash flows associated with an existing recognized asset or liability or a probable forecasted transaction (a “cash flow” hedge); or (3) held for other economic purposes (an “economic” hedge) and not formally designated as part of qualifying hedging relationships under authoritative guidance.
In a fair value hedge, changes in the fair value of the hedging derivative are recognized in earnings and offset by recognizing changes in the fair value of the hedged item attributable to the risk being hedged. To the extent that the hedge is ineffective, the changes in fair value will not offset and the difference is reflected in earnings.
In a cash flow hedge, the effective portion of the change in the fair value of the hedging derivative is recorded in accumulated other comprehensive income and is subsequently reclassified into earnings during the same period in which the hedged item affects earnings. The change in fair value of any ineffective portion of the hedging derivative is recognized immediately in earnings. When a cash flow hedge is discontinued, the net derivative gain or loss continues to be reported in accumulated other comprehensive income unless it is probable that the forecasted transactions will not occur by the end of the originally specified time period. The net derivative gain or loss from a discontinued cash flow hedge is reclassified into earnings during the originally specified time period in which the forecasted transactions were to occur.
The Company formally documents the relationship between the hedging instruments and hedged items, as well as its risk management objective and strategy before initiating a hedge. To qualify for hedge accounting, the derivatives and related hedged items must be designated as a hedge. For hedging relationships in which effectiveness is measured, the correlations between the hedging instruments and hedged items are assessed at inception of the hedge and on an ongoing basis, which includes determining whether the hedge relationship is expected to be highly effective in offsetting changes in fair value or cash flows of hedged items.
Derivatives used for other economic purposes are used as economic hedges in which the Company has not attempted to achieve the highly effective hedge accounting standard under authoritative guidance. The changes in fair value of these instruments are recognized immediately in earnings.
Accounting Pronouncements
During the year ended December 31, 2013, the following Accounting Standards Updates were issued or became effective:
In July 2013, the Financial Accounting Standards Board ("FASB") issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The Update clarifies when it is appropriate for an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. ASU 2013-11 is effective for interim and annual periods beginning after December 15, 2013. Early adoption is permitted. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date, however, retrospective application is also permitted. Adoption of the new guidance is not expected to have a significant impact on the Company's consolidated financial statements.
In February 2013, the FASB issued ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. The Update requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component and to present either on the face of the statement where net income is presented, or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income, but only if the amount reclassified is required to be reclassified to net income in its entirety in the same reporting period. The amendments are effective for annual and interim reporting periods beginning on or after December 15, 2012. The Company adopted the ASU 2013-02 reporting requirements during the interim reporting period beginning on January 1, 2013 with no impact to the Company's financial condition or results of operations. See Note 18 to the Consolidated Financial Statements of this report for new disclosures related to accumulated other comprehensive income.
In October 2012, the FASB issued ASU 2012-06, Subsequent Accounting for an Indemnification Asset Recognized at the Acquisition Date as a Result of a Government-Assisted Acquisition of a Financial Institution. ASU 2012-06 clarifies that when a reporting entity recognizes an indemnification asset as a result of a government-assisted acquisition of a financial institution and there is a subsequent change in the amount of cash flows expected to be collected on the indemnified asset, the reporting entity should subsequently measure the indemnification asset on the same basis as the underlying loans by taking into account the contractual limitations of the Loss-Sharing Agreement ("LSA"). For amortization of changes in value, the reporting entity should use the term of the LSA if it is shorter than the term of the acquired loans. ASU 2012-06 is effective for interim and annual periods beginning after December 15, 2012. The Company adopted the ASU as of January 1, 2013. As a result of the adoption of the ASU, an additional $12.3 million of indemnification asset amortization was recorded during the year ending December 31, 2013, resulting in a reduction of $8.0 million in net income and $0.16 in diluted earnings per share.
In December 2011, the FASB issued ASU 2011-11, Disclosures about Offsetting Assets and Liabilities (Topic 210). ASU 2011-11 requires an entity to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. ASU 2011-11 is effective for interim and annual periods beginning on or after January 1, 2013 and should be applied retrospectively for all comparative periods presented. Subsequent to December 31, 2012, the FASB issued ASU 2013-01 which clarifies the scope of ASU 2011-11. Adoption of the new guidance is not expected to have a significant impact on the Company's consolidated financial statements. See Note 14 to the Consolidated Financial Statements of this report for new disclosures related to balance sheet offsetting.
Business Combinations
Business Combination Disclosure [Text Block]
Business Combinations
West Coast Bancorp
On April 1, 2013, the Company completed its acquisition of West Coast Bancorp ("West Coast"). The Company acquired 100% of the voting equity interests of West Coast. The primary reason for the acquisition was to expand the Company's geographic footprint consistent with its ongoing growth strategy.
 The assets acquired and liabilities assumed have been accounted for under the acquisition method of accounting (formerly the purchase method). The assets and liabilities, both tangible and intangible, were recorded at their estimated fair values as of the April 1, 2013 acquisition date. Subsequent to the acquisition date, the amounts for other assets, other liabilities and goodwill have been retrospectively adjusted to reflect the removal of a liability that was recorded by West Coast, as well as the associated impacts to the deferred tax asset (other assets) and goodwill. The subsequent adjustment recorded was a decrease to other liabilities of $3.3 million, a decrease to other assets of $890 thousand and a decrease to goodwill of $2.4 million and no impact to previously reported net income.
The application of the acquisition method of accounting resulted in the recognition of goodwill of $228.4 million and a core deposit intangible of $15.3 million, or 0.89% of core deposits. The goodwill represents the excess purchase price over the estimated fair value of the net assets acquired. The goodwill is generally not deductible for income tax purposes.
The table below summarizes the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed:
 
 
April 1, 2013
 
 
(in thousands)
 
 
 
Purchase price as of April 1, 2013
 
$
540,791

Recognized amounts of identifiable assets acquired and (liabilities assumed), at fair value:
 
 
Cash and cash equivalents
 
$
110,440

Investment securities
 
730,842

Federal Home Loan Bank stock
 
11,824

Acquired loans
 
1,407,798

Premises and equipment
 
35,884

Other real estate owned
 
14,708

Core deposit intangible
 
15,257

Other assets
 
75,820

Deposits
 
(1,883,407
)
Federal Home Loan Bank advances
 
(128,885
)
Junior subordinated debentures
 
(51,000
)
Other liabilities
 
(26,888
)
Total fair value of identifiable net assets
 
312,393

Goodwill
 
$
228,398


See Note 10, Goodwill and Other Intangible Assets, for further discussion of the accounting for goodwill and other intangible assets.
The operating results of the Company include the operating results produced by the acquired assets and assumed liabilities for the period April 1, 2013 to December 31, 2013. Disclosure of the amount of West Coast's revenue and net income (excluding integration costs) included in Columbia's consolidated income statement is impracticable due to the integration of the operations and accounting for this acquisition.
The following table presents certain unaudited pro forma information for illustrative purposes only, for the years ended December 31, 2013 and 2012 as if West Coast had been acquired on January 1, 2012. The unaudited estimated pro forma information combines the historical results of West Coast with the Company's consolidated historical results and includes certain adjustments reflecting the estimated impact of certain fair value adjustments for the respective periods. The pro forma information is not indicative of what would have occurred had the acquisition occurred on January 1, 2012. In particular, no adjustments have been made to eliminate the impact of other-than-temporary impairment losses and losses recognized on the sale of securities that may not have been necessary had the investments securities been recorded at fair value as of January 1, 2012. The unaudited pro forma information does not consider any changes to the provision for credit losses resulting from recording loan assets at fair value. Additionally, Columbia expects to achieve further operating cost savings and other business synergies, including revenue growth, as a result of the acquisition which are not reflected in the pro forma amounts that follow. As a result, actual amounts will differ from the unaudited pro forma information presented.
 
 
Unaudited Pro Forma
 
 
Years Ended December 31,
 
 
2013
 
2012
 
 
(in thousands)
Total revenues (net interest income plus noninterest income)
 
$
337,712

 
$
420,167

Net income
 
$
76,496

 
$
91,261

Earnings per share - basic
 
$
1.50

 
$
1.79

Earnings per share - diluted
 
$
1.46

 
$
1.74


In connection with the West Coast acquisition, Columbia recognized $25.5 million of acquisition-related expenses for the year ended December 31, 2013 and $1.8 million for the year ended December 31, 2012. The acquisition-related expenses were excluded from the table above.

Bank of Whitman
On August 5, 2011 the Bank acquired certain assets and assumed certain liabilities of the Bank of Whitman from the FDIC in an FDIC-assisted transaction. The Bank and the FDIC entered into a modified whole bank purchase and assumption agreement without loss share.
The Bank of Whitman was a full service community bank headquartered in Colfax, Washington. We entered into this transaction to acquire 9 branches total in Adams, Asotin, Grant, Spokane, Walla Walla, and Whitman counties to assist us with filling in our geographic footprint in eastern Washington. We believe participating with the FDIC in this assisted transaction was, from an economical standpoint, advantageous to expansion through de novo branching.
 The assets acquired and liabilities assumed have been accounted for under the acquisition method of accounting (formerly the purchase method). The assets and liabilities, both tangible and intangible, were recorded at their estimated fair values as of the August 5, 2011 acquisition date. The application of the acquisition method of accounting resulted in the recognition of a bargain purchase gain, net of tax, of $1.8 million, which is included in the Gain on bank acquisition line item in the Consolidated Statements of Income, and a core deposit intangible of $3.9 million. The bargain purchase gain represents the excess of the estimated fair value of the assets acquired over the estimated fair value of the liabilities assumed and is influenced significantly by the FDIC-assisted transaction process. The core deposit intangible asset recognized is deductible for income tax purposes.
The operating results of the Company include the operating results produced by the acquired assets and assumed liabilities for the period August 6, 2011 to December 31, 2013. Due to the exclusion of the majority of the non-performing loans and 11 branch locations, as well as the significant amount of fair value adjustments, historical results of the Bank of Whitman are not meaningful to the Company's results and thus no proforma information is presented.
The table below displays the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed:
 
 
August 5, 2011
 
 
(in thousands)
Assets
 
 
Cash and due from banks
 
$
52,072

Investment securities
 
16,298

Federal Reserve Bank and Federal Home Loan Bank stock
 
3,977

Acquired loans
 
200,041

Accrued interest receivable
 
1,975

Premises and equipment
 
86

FDIC receivable
 
156,710

Core deposit intangible
 
3,943

Other assets
 
2,447

Total assets acquired
 
$
437,549

Liabilities
 
 
Deposits
 
$
401,127

Federal Home Loan Bank advances
 
32,949

Accrued interest payable
 
213

Deferred tax liability
 
1,034

Other liabilities
 
396

Total liabilities assumed
 
435,719

Net assets acquired (after tax gain)
 
$
1,830


First Heritage Bank
On May 27, 2011 the Bank acquired certain assets and assumed certain liabilities of First Heritage Bank from the FDIC in an FDIC-assisted transaction. As part of the Purchase and Assumption Agreement, the Bank and the FDIC entered into loss-sharing agreements (each, a “loss-sharing agreement” and collectively, the “loss-sharing agreements”), whereby the FDIC will cover a substantial portion of any future losses on loans (and related unfunded commitments), OREO and certain accrued interest on loans for up to 90 days. We refer to the acquired loans and OREO subject to the loss-sharing agreements collectively as “covered assets.” Under the terms of the loss-sharing agreements, the FDIC will absorb 80% of losses and share in 80% of loss recoveries. The loss-sharing provisions of the agreements for commercial and single family residential mortgage loans are in effect for five years and ten years, respectively, from the May 27, 2011 acquisition date and the loss recovery provisions for such loans are in effect for eight years and ten years, respectively, from the acquisition date.
First Heritage Bank was a full service community bank headquartered in Snohomish, Washington that operated five branch locations in King and Snohomish Counties. We entered into this transaction to assist us with filling in our geographic footprint between Seattle and Bellingham, Washington and to support our recently expanded Bellingham banking team. We believe participating with the FDIC in this assisted transaction was, from an economical standpoint, advantageous to expansion through de novo branching.
The assets acquired and liabilities assumed have been accounted for under the acquisition method of accounting (formerly the purchase method). The assets and liabilities, both tangible and intangible, were initially provisionally recorded at their estimated fair values as of the May 27, 2011 acquisition date pending completion of valuation adjustments related to acquired loans, OREO, the indemnification asset, and other assets. The initial amounts recorded for acquired loans, OREO, the indemnification asset, and other assets were $81.9 million, $8.3 million, $38.1 million, and $1.7 million, respectively. At December 31, 2011 these amounts were retrospectively adjusted resulting in a $369 thousand decrease to acquired loans, a $61 thousand decrease to OREO, a $427 thousand increase to the indemnification asset, and a $1.9 million increase to other assets. The application of the acquisition method of accounting resulted in the recognition of $4.0 million of goodwill and a core deposit intangible of $1.3 million. The goodwill represents the excess of the estimated fair value of the liabilities assumed over the estimated fair value of the assets acquired and is influenced significantly by the FDIC-assisted transaction process.
The operating results of the Company include the operating results produced by the acquired assets and assumed liabilities for the period May 28, 2011 to December 31, 2013. Due primarily to the significant amount of fair value adjustments and the FDIC loss-sharing agreements put in place, historical results of First Heritage Bank are not meaningful to the Company’s results and thus no proforma information is presented.
The table below displays the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed:
 
 
 
May 27, 2011
 
 
(in thousands)
Assets
 
 
Cash and due from banks
 
$
4,688

Interest-earning deposits with banks
 
6,689

Investment securities
 
5,303

Federal Home Loan Bank stock
 
477

Acquired loans
 
81,488

Accrued interest receivable
 
476

Premises and equipment
 
5,339

FDIC receivable
 
4,751

Other real estate owned covered by loss sharing
 
8,225

Goodwill
 
4,023

Core deposit intangible
 
1,337

FDIC indemnification asset
 
38,531

Other assets
 
3,657

Total assets acquired
 
$
164,984

Liabilities
 
 
Deposits
 
$
159,525

Federal Home Loan Bank advances
 
5,003

Accrued interest payable
 
421

Other liabilities
 
35

Total liabilities assumed
 
$
164,984



Summit Bank
On May 20, 2011 the Bank acquired certain assets and assumed certain liabilities of Summit Bank from the Federal Deposit Insurance Corporation (“FDIC”) in an FDIC-assisted transaction. As part of the Purchase and Assumption Agreement, the Bank and the FDIC entered into loss-sharing agreements (each, a “loss-sharing agreement” and collectively, the “loss-sharing agreements”), whereby the FDIC will cover a substantial portion of any future losses on loans (and related unfunded commitments), OREO and certain accrued interest on loans for up to 90 days. We refer to the acquired loans and OREO subject to the loss-sharing agreements collectively as “covered assets.” Under the terms of the loss-sharing agreements, the FDIC will absorb 80% of losses and share in 80% of loss recoveries. The loss-sharing provisions of the agreements for commercial and single family residential mortgage loans are in effect for five years and ten years, respectively, from the May 20, 2011 acquisition date and the loss recovery provisions for such loans are in effect for eight years and ten years, respectively, from the acquisition date.
Summit Bank was a full service community bank headquartered in Burlington, Washington that operated three branch locations in Skagit County. We entered into this transaction to assist us with filling in our geographic footprint between Seattle and Bellingham, Washington and to support our recently expanded Bellingham banking team. We believe participating with the FDIC in this assisted transaction was, from an economical standpoint, advantageous to expansion through de novo branching.
The assets acquired and liabilities assumed have been accounted for under the acquisition method of accounting (formerly the purchase method). The assets and liabilities, both tangible and intangible, were initially provisionally recorded at their estimated fair values as of the May 20, 2011 acquisition date pending completion of valuation adjustments related to acquired loans, OREO, the indemnification asset, and other assets. The initial amounts recorded for acquired loans, OREO, the indemnification asset, and other assets were $71.4 million, $2.7 million, $27.2 million, and $786 thousand, respectively. At December 31, 2011 these amounts were retrospectively adjusted resulting in a $1.7 million decrease to acquired loans, a $509 thousand decrease to OREO, a $3.0 million increase to the indemnification asset, and a $1.0 million increase to other assets. The application of the acquisition method of accounting resulted in the recognition of $1.9 million of goodwill and a core deposit intangible of $509 thousand. The goodwill represents the excess of the estimated fair value of the liabilities assumed over the estimated fair value of the assets acquired and is influenced significantly by the FDIC-assisted transaction process.
The operating results of the Company include the operating results produced by the acquired assets and assumed liabilities for the period May 21, 2011 to December 31, 2013. Due primarily to the significant amount of fair value adjustments and the FDIC loss-sharing agreements put in place, historical results of Summit Bank are not meaningful to the Company’s results and thus no pro forma information is presented.
The table below displays the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed:
 
 
 
May 20, 2011
 
 
(in thousands)
Assets
 
 
Cash and due from banks
 
$
1,837

Interest-earning deposits with banks and federal funds sold
 
14,198

Investment securities
 
871

Federal Home Loan Bank stock
 
406

Acquired loans
 
69,783

Accrued interest receivable
 
429

Premises and equipment
 
42

FDIC receivable
 
6,984

Other real estate owned covered by loss sharing
 
2,162

Goodwill
 
1,892

Core deposit intangible
 
509

FDIC indemnification asset
 
30,203

Other assets
 
1,813

Total assets acquired
 
$
131,129

Liabilities
 
 
Deposits
 
$
123,279

Federal Home Loan Bank advances
 
7,772

Accrued interest payable
 
71

Other liabilities
 
7

Total liabilities assumed
 
$
131,129

Cash and Cash Equivalents
Cash and Cash Equivalents
Cash and Cash Equivalents
The Company is required to maintain an average reserve balance with the Federal Reserve Bank or maintain such reserve balance in the form of cash. The average required reserve balance for the years ended December 31, 2013 and 2012 was approximately $36.3 million and $28.6 million, respectively, and was met by holding cash and maintaining an average balance with the Federal Reserve Bank.
Securities
Securities
Securities
At December 31, 2013 the Company's securities portfolio primarily consisted of securities issued by the U.S. government, U.S. government agencies, U.S. government-sponsored enterprises and state and municipalities. All of the Company’s mortgage-backed securities and collateralized mortgage obligations are issued by U.S. government agencies and U.S. government-sponsored enterprises and are implicitly guaranteed by the U.S. government. The Company had no other issuances in its portfolio which exceeded ten percent of shareholders’ equity.
The following table summarizes the amortized cost, gross unrealized gains and losses and the resulting fair value of securities available for sale:
 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
December 31, 2013
 
(in thousands)
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
961,442

 
$
10,640

 
$
(23,674
)
 
$
948,408

State and municipal securities
 
357,013

 
11,450

 
(3,993
)
 
364,470

U.S. government agency and government-sponsored enterprise securities
 
335,671

 
434

 
(10,066
)
 
326,039

U.S. government securities
 
21,081

 
—

 
(967
)
 
20,114

Other securities
 
5,284

 
27

 
(231
)
 
5,080

Total
 
$
1,680,491

 
$
22,551

 
$
(38,931
)
 
$
1,664,111

December 31, 2012
 
 
 
 
 
 
 
 
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
561,076

 
$
16,719

 
$
(5,426
)
 
$
572,369

State and municipal securities
 
265,070

 
20,893

 
(388
)
 
285,575

U.S. government agency and government-sponsored enterprise securities
 
120,085

 
851

 
(435
)
 
120,501

U.S. government securities
 
19,804

 
39

 
(15
)
 
19,828

Other securities
 
3,324

 
104

 
(36
)
 
3,392

Total
 
$
969,359

 
$
38,606

 
$
(6,300
)
 
$
1,001,665


Gross realized losses amounted to $170 thousand, $714 thousand, and $250 thousand for the years ended December 31, 2013, 2012 and 2011, respectively. Gross realized gains amounted to $632 thousand, $4.4 million, and $384 thousand for the years ended December 31, 2013, 2012 and 2011, respectively. The following table summarizes the amortized cost and fair value of securities available for sale by contractual maturity groups:
 
 
December 31, 2013
 
 
Amortized Cost
 
Fair Value
 
 
(in thousands)
Due within one year
 
$
14,079

 
$
14,239

Due after one year through five years
 
303,875

 
302,641

Due after five years through ten years
 
487,643

 
480,244

Due after ten years
 
869,610

 
861,907

Other securities with no stated maturity
 
$
5,284

 
$
5,080

Total investment securities available-for-sale
 
$
1,680,491

 
$
1,664,111


The following table summarizes, as of December 31, 2013 and 2012, the carrying value of securities pledged as collateral to secure public deposits, borrowings and other purposes as permitted or required by law: 
 
 
December 31, 2013
 
December 31, 2012
 
 
(in thousands)
Washington and Oregon State to secure public deposits
 
$
277,012

 
$
281,006

Federal Reserve Bank to secure borrowings
 
42,694

 
47,634

Other securities pledged
 
43,081

 
46,090

Total securities pledged as collateral
 
$
362,787

 
$
374,730

The following tables show the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2013 and 2012:
 
 
Less than 12 Months
 
12 Months or More
 
Total
 
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
December 31, 2013
 
(in thousands)
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
492,921

 
$
(10,991
)
 
$
121,303

 
$
(12,684
)
 
$
614,224

 
(23,675
)
State and municipal securities
 
112,400

 
(3,069
)
 
13,815

 
(923
)
 
126,215

 
(3,992
)
U.S. government agency and government-sponsored enterprise securities
 
260,001

 
(8,063
)
 
28,447

 
(2,003
)
 
288,448

 
(10,066
)
U.S. government securities
 
20,114

 
(967
)
 
—

 
—

 
20,114

 
(967
)
Other securities
 
2,257

 
(58
)
 
2,783

 
(173
)
 
5,040

 
(231
)
Total
 
$
887,693

 
$
(23,148
)
 
$
166,348

 
$
(15,783
)
 
$
1,054,041

 
$
(38,931
)
December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
167,739

 
$
(5,090
)
 
$
12,204

 
$
(336
)
 
$
179,943

 
$
(5,426
)
State and municipal securities
 
20,413

 
(383
)
 
210

 
(5
)
 
20,623

 
(388
)
U.S. government agency and government-sponsored enterprise securities
 
56,600

 
(435
)
 
—

 
—

 
56,600

 
(435
)
U.S. government securities
 
9,914

 
(15
)
 
—

 
—

 
9,914

 
(15
)
Other securities
 
—

 
—

 
964

 
(36
)
 
964

 
(36
)
Total
 
$
254,666

 
$
(5,923
)
 
$
13,378

 
$
(377
)
 
$
268,044

 
$
(6,300
)

At December 31, 2013, there were 84 U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations securities in an unrealized loss position, of which 11 were in a continuous loss position for 12 months or more. The decline in fair value is attributable to changes in interest rates relative to where these investments fall within the yield curve and their individual characteristics. Because the Company does not currently intend to sell these securities nor does the Company consider it more likely than not that it will be required to sell these securities before the recovery of amortized cost basis, which may be maturity, the Company does not consider these investments to be other-than-temporarily impaired at December 31, 2013.
At December 31, 2013, there were 131 state and municipal government securities in an unrealized loss position, of which 11 were in a continuous loss position for 12 months or more. The unrealized losses on state and municipal securities were caused by interest rate changes or widening of market spreads subsequent to the purchase of the individual securities. Management monitors published credit ratings of these securities for adverse changes. As of December 31, 2013 none of the rated obligations of state and local government entities held by the Company had an adverse credit rating. Because the credit quality of these securities are investment grade and the Company does not currently intend to sell these securities nor does the Company consider it more likely than not that it will be required to sell these securities before the recovery of amortized cost basis, which may be maturity, the Company does not consider these investments to be other-than-temporarily impaired at December 31, 2013.
At December 31, 2013, there were 31 U.S. government agency and government-sponsored enterprise securities in an unrealized loss position, of which three were in a continuous loss position for 12 months or more. The decline in fair value is attributable to changes in interest rates relative to where these investments fall within the yield curve and their individual characteristics. Because the Company does not currently intend to sell these securities nor does the Company consider it more likely than not that it will be required to sell these securities before the recovery of amortized cost basis, which may be maturity, the Company does not consider these investments to be other-than-temporarily impaired at December 31, 2013.
At December 31, 2013, there were five U.S. government securities in an unrealized loss position, which were not in a continuous loss position for 12 months or more. The decline in fair value is attributable to changes in interest rates relative to where these investments fall within the yield curve and their individual characteristics. Because the Company does not currently intend to sell these securities nor does the Company consider it more likely than not that it will be required to sell these securities before the recovery of amortized cost basis, which may be maturity, the Company does not consider these investments to be other-than-temporarily impaired at December 31, 2013.
At December 31, 2013, there were two other securities in an unrealized loss position, of which one security, a mortgage-backed securities fund, was in a continuous unrealized loss position for 12 months or more. The decline in fair value is attributable to changes in interest rates and the additional risk premium investors are demanding for investment securities with these characteristics. The Company does not consider this investment to be other-than-temporarily impaired at December 31, 2013 as it has the intent and ability to hold the investment for sufficient time to allow for recovery in the market value.
Securities Deemed to be Other-Than-Temporarily Impaired
During the fourth quarter of 2012, the Company received full payment on a municipal bond that was determined to be other-than-temporarily impaired during 2011 for which the Company recorded impairment of $3.0 million in 2011. The 2011 impairment and the 2012 gain related to this security are recorded in the line item Investment securities gains(losses), net in the Consolidated Statements of Income.
Noncovered Loans
Noncovered Loans
Noncovered Loans
Noncovered loans include loans originated through our branch network and loan departments as well as acquired loans that are not subject to FDIC loss-share agreements.
The following is an analysis of the noncovered loan portfolio by major types of loans (net of unearned income):
 
 
December 31,
2013
 
December 31,
2012
 
 
(in thousands)
Noncovered loans:
 
 
 
 
Commercial business
 
$
1,561,782

 
$
1,155,158

Real estate:
 
 
 
 
One-to-four family residential
 
108,317

 
43,922

Commercial and multifamily residential
 
2,080,075

 
1,061,201

Total real estate
 
2,188,392

 
1,105,123

Real estate construction:
 
 
 
 
One-to-four family residential
 
54,155

 
50,602

Commercial and multifamily residential
 
126,390

 
65,101

Total real estate construction
 
180,545

 
115,703

Consumer
 
357,014

 
157,493

Less: Net unearned income
 
(68,282
)
 
(7,767
)
Total noncovered loans, net of unearned income
 
4,219,451

 
2,525,710

Less: Allowance for loan and lease losses
 
(52,280
)
 
(52,244
)
Total noncovered loans, net
 
$
4,167,171

 
$
2,473,466

Loans held for sale
 
$
735

 
$
2,563


At December 31, 2013 and 2012, the Company had no material foreign activities. Substantially all of the Company’s loans and unfunded commitments are geographically concentrated in its service areas within the states of Washington and Oregon.
The Company has granted loans to officers and directors of the Company and related interests. These loans are made on the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated persons and do not involve more than the normal risk of collectability. The aggregate dollar amount of these loans was $14.2 million and $14.2 million at December 31, 2013 and 2012, respectively. During 2013, advances and repayments on related party loans totaled $2.0 million.
At December 31, 2013 and 2012, $1.08 billion and $443.4 million of commercial and residential real estate loans were pledged as collateral on Federal Home Loan Bank advances. The Company has also pledged $45.2 million and $13.8 million of commercial loans to the Federal Reserve Bank for additional borrowing capacity at December 31, 2013 and 2012, respectively.
Nonaccrual loans totaled $34.0 million and $37.4 million at December 31, 2013 and 2012, respectively. The amount of interest income foregone as a result of these loans being placed on nonaccrual status totaled $2.9 million for 2013, $3.4 million for 2012 and $5.3 million for 2011. There were no loans 90 days past due and still accruing interest as of December 31, 2013 and December 31, 2012. At December 31, 2013 and 2012, there were $28 thousand and $346 thousand, respectively, of commitments of additional funds for loans accounted for on a nonaccrual basis.
The following is an analysis of noncovered, nonaccrual loans as of December 31, 2013 and 2012:
 
 
 
December 31, 2013
 
December 31, 2012
 
 
Recorded
Investment
Nonaccrual
Loans
 
Unpaid Principal
Balance
Nonaccrual
Loans
 
Recorded
Investment
Nonaccrual
Loans
 
Unpaid Principal
Balance
Nonaccrual
Loans
Noncovered loans:
 
(in thousands)
Commercial business:
 
 
 
 
 
 
 
 
Secured
 
$
12,433

 
$
19,186

 
$
9,037

 
$
17,821

Unsecured
 
176

 
202

 
262

 
262

Real estate:
 
 
 
 
 
 
 
 
One-to-four family residential
 
2,667

 
4,678

 
2,349

 
2,672

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
Commercial land
 
442

 
783

 
4,076

 
7,491

Income property
 
4,267

 
5,383

 
8,520

 
10,815

Owner occupied
 
6,334

 
7,486

 
6,608

 
7,741

Real estate construction:
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
Land and acquisition
 
3,246

 
6,601

 
3,084

 
6,704

Residential construction
 
459

 
1,928

 
1,816

 
2,431

Consumer
 
3,991

 
6,187

 
1,643

 
1,940

Total
 
$
34,015

 
$
52,434

 
$
37,395

 
$
57,877


 
The following is an aging of the recorded investment of the noncovered loan portfolio as of December 31, 2013 and 2012:
 
 
 
Current
Loans
 
30 - 59
Days
Past Due
 
60 - 89
Days
Past Due
 
Total
Past Due
 
Nonaccrual
Loans
 
Total Loans
December 31, 2013
 
(in thousands)
Noncovered loans:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
1,457,820

 
$
12,713

 
$
681

 
$
13,394

 
$
12,433

 
$
1,483,647

Unsecured
 
72,255

 
156

 
17

 
173

 
176

 
72,604

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
100,591

 
1,993

 
641

 
2,634

 
2,667

 
105,892

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
142,034

 
—

 
358

 
358

 
442

 
142,834

Income property
 
1,138,732

 
144

 
3,289

 
3,433

 
4,267

 
1,146,432

Owner occupied
 
749,561

 
4,714

 
—

 
4,714

 
6,334

 
760,609

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
8,225

 
199

 
—

 
199

 
3,246

 
11,670

Residential construction
 
41,533

 
—

 
—

 
—

 
459

 
41,992

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
86,521

 
—

 
—

 
—

 
—

 
86,521

Owner occupied
 
38,916

 
—

 
—

 
—

 
—

 
38,916

Consumer
 
322,685

 
835

 
823

 
1,658

 
3,991

 
328,334

Total
 
$
4,158,873

 
$
20,754

 
$
5,809

 
$
26,563

 
$
34,015

 
$
4,219,451

 
 
Current
Loans
 
30 - 59
Days
Past Due
 
60 - 89
Days
Past Due
 
Total
Past Due
 
Nonaccrual
Loans
 
Total Loans
December 31, 2012
 
(in thousands)
Noncovered loans:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
1,091,770

 
$
4,259

 
$
1,485

 
$
5,744

 
$
9,037

 
$
1,106,551

Unsecured
 
44,817

 
252

 
12

 
264

 
262

 
45,343

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
41,508

 
193

 
142

 
335

 
2,349

 
44,192

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
42,818

 
311

 
122

 
433

 
4,076

 
47,327

Income property
 
603,339

 
2,726

 
227

 
2,953

 
8,520

 
614,812

Owner occupied
 
387,525

 
1,040

 
—

 
1,040

 
6,608

 
395,173

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
15,412

 
—

 
—

 
—

 
3,084

 
18,496

Residential construction
 
29,848

 
—

 
—

 
—

 
1,816

 
31,664

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
28,342

 
—

 
—

 
—

 
—

 
28,342

Owner occupied
 
36,211

 
—

 
—

 
—

 
—

 
36,211

Consumer
 
155,207

 
387

 
362

 
749

 
1,643

 
157,599

Total
 
$
2,476,797

 
$
9,168

 
$
2,350

 
$
11,518

 
$
37,395

 
$
2,525,710



The following is an analysis of impaired loans (see Note 1) as of December 31, 2013 and 2012: 
 
 
Recorded Investment
of Loans
Collectively Measured
for Contingency
Provision
 
Recorded Investment
of Loans
Individually
Measured for
Specific
Impairment
 
Impaired Loans With
Recorded Allowance
 
Impaired Loans Without
Recorded Allowance
 
 
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Recorded
Investment
 
Unpaid
Principal
Balance
December 31, 2013
 
(in thousands)
Noncovered loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
1,478,560

 
$
5,087

 
$
2,866

 
$
2,885

 
$
343

 
$
2,221

 
$
2,560

Unsecured
 
72,569

 
35

 
35

 
35

 
35

 
—

 
—

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
104,272

 
1,620

 
442

 
479

 
138

 
1,178

 
2,119

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
142,719

 
115

 
—

 
—

 
—

 
115

 
398

Income property
 
1,140,019

 
6,413

 
918

 
933

 
26

 
5,495

 
7,885

Owner occupied
 
749,601

 
11,008

 
3,802

 
3,817

 
1,073

 
7,206

 
10,464

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
9,726

 
1,944

 
113

 
113

 
71

 
1,831

 
2,587

Residential construction
 
41,992

 
—

 
—

 
—

 
—

 
—

 
—

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
86,521

 
—

 
—

 
—

 
—

 
—

 
—

Owner occupied
 
38,916

 
—

 
—

 
—

 
—

 
—

 
—

Consumer
 
328,167

 
167

 
23

 
27

 
4

 
144

 
210

Total
 
$
4,193,062

 
$
26,389

 
$
8,199

 
$
8,289

 
$
1,690

 
$
18,190

 
$
26,223

 
 
 
Recorded Investment
of Loans
Collectively Measured
for Contingency
Provision
 
Recorded Investment
of Loans
Individually
Measured for
Specific
Impairment
 
Impaired Loans With
Recorded Allowance
 
Impaired Loans Without
Recorded Allowance
 
 
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Recorded
Investment
 
Unpaid
Principal
Balance
December 31, 2012
 
(in thousands)
Noncovered loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
1,101,689

 
$
4,862

 
$
690

 
$
1,994

 
$
113

 
$
4,172

 
$
6,769

Unsecured
 
45,251

 
92

 
92

 
92

 
92

 
—

 
—

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
42,103

 
2,089

 
345

 
364

 
112

 
1,744

 
1,902

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
44,672

 
2,655

 
—

 
—

 
—

 
2,655

 
5,727

Income property
 
606,656

 
8,156

 
2,670

 
2,727

 
1,040

 
5,486

 
7,860

Owner occupied
 
383,269

 
11,904

 
608

 
610

 
38

 
11,296

 
14,642

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
15,677

 
2,819

 
—

 
—

 
—

 
2,819

 
4,813

Residential construction
 
29,707

 
1,957

 
—

 
—

 
—

 
1,957

 
2,570

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
28,342

 
—

 
—

 
—

 
—

 
—

 
—

Owner occupied
 
36,211

 
—

 
—

 
—

 
—

 
—

 
—

Consumer
 
157,472

 
127

 
—

 
—

 
—

 
127

 
127

Total
 
$
2,491,049

 
$
34,661

 
$
4,405

 
$
5,787

 
$
1,395

 
$
30,256

 
$
44,410



The following table provides additional information on impaired loans for the years ended December 31, 2013, 2012 and 2011:
 
 
Year ended December 31, 2013
 
Year Ended December 31, 2012
 
Year ended December 31, 2011
 
 
Average Recorded
Investment
Impaired Loans 
 
Interest Recognized
on
Impaired Loans
 
Average Recorded
Investment
Impaired Loans 
 
Interest Recognized
on
Impaired Loans
 
Average Recorded
Investment
Impaired Loans 
 
Interest Recognized
on
Impaired Loans
Noncovered loans:
 
(in thousands)
Commercial business
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
5,636

 
$
19

 
$
8,978

 
$
9

 
$
15,578

 
$
511

Unsecured
 
61

 
3

 
113

 
6

 
138

 
—

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
1,665

 
63

 
2,130

 
—

 
2,494

 
—

Commercial & multifamily residential
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
1,691

 
—

 
3,124

 
—

 
4,263

 
—

Income property
 
8,910

 
238

 
7,895

 
77

 
8,881

 
59

Owner occupied
 
10,779

 
971

 
13,315

 
1,004

 
15,254

 
18

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
2,624

 
6

 
4,465

 
—

 
8,972

 
116

Residential construction
 
420

 
—

 
3,223

 
11

 
4,535

 
—

Commercial & multifamily residential
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
—

 
—

 
3,169

 
—

 
7,065

 
—

Consumer
 
253

 
6

 
1,112

 
7

 
3,880

 
15

Total
 
$
32,039

 
$
1,306

 
$
47,524

 
$
1,114

 
$
71,060

 
$
719



The following is an analysis of loans classified as Troubled Debt Restructurings ("TDR") for the years ended December 31, 2013, 2012 and 2011:
 
 
Year ended December 31, 2013
 
Year Ended December 31, 2012
 
Year ended December 31, 2011
 
 
Number of TDR Modifications
 
Pre-Modification
Outstanding
Recorded
Investment
 
Post-Modification
Outstanding
Recorded
Investment
 
Number of TDR Modifications
 
Pre-Modification
Outstanding
Recorded
Investment
 
Post-Modification
Outstanding
Recorded
Investment
 
Number of TDR Modifications
 
Pre-Modification
Outstanding
Recorded
Investment
 
Post-Modification
Outstanding
Recorded
Investment
Noncovered loans:
 
(dollars in thousands)
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
2

 
$
190

 
$
190

 
1

 
$
195

 
$
194

 
6

 
$
659

 
$
659

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
1

 
113

 
113

 
—

 
—

 
—

 
1

 
369

 
369

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
1

 
137

 
137

 
—

 
—

 
—

 
—

 
—

 
—

Income property
 
4

 
1,186

 
1,186

 
1

 
4,279

 
2,650

 
2

 
1,280

 
1,280

Owner occupied
 
1

 
172

 
172

 
—

 
—

 
—

 
—

 
—

 
—

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
1

 
117

 
117

 
—

 
—

 
—

 
—

 
—

 
—

Residential construction
 
—

 
—

 
—

 
—

 
—

 
—

 
1

 
36

 
36

Consumer
 
2

 
53

 
53

 
—

 
—

 
—

 
—

 
—

 
—

Total
 
12

 
$
1,968

 
$
1,968

 
2

 
$
4,474

 
$
2,844

 
10

 
$
2,344

 
$
2,344


The Company's loans classified as TDR are loans that have been modified or the borrower has been granted special concessions due to financial difficulties, that if not for the challenges of the borrower, the Company would not otherwise consider. The Company had commitments to lend $0 and $236 thousand of additional funds on loans classified as TDR as of December 31, 2013 and 2012, respectively. The TDR modifications or concessions are made to increase the likelihood that these borrowers with financial difficulties will be able to satisfy their debt obligations as amended. Credit losses for loans classified as TDR are measured on the same basis as impaired loans. For impaired loans, an allowance is established when the collateral value less selling costs (or discounted cash flows or observable market price) of the impaired loan is lower than the recorded investment of that loan. The Company did not have any loans modified as TDR that defaulted within 12 months of being modified as TDR during the years ended December 31,
2013, 2012, and 2011.
Allowance for Noncovered Loan and Lease Losses and Unfunded Commitments and Letters of Credit
Allowance for Loan and Lease Losses and Unfunded Loan Commitments and Letters of Credit
Allowance for Noncovered Loan and Lease Losses and Unfunded Commitments and Letters of Credit
We maintain an allowance for loan and lease losses (“ALLL”) to absorb losses inherent in the loan portfolio. The size of the ALLL is determined through quarterly assessments of the probable estimated losses in the loan portfolio. Our methodology for making such assessments and determining the adequacy of the ALLL includes the following key elements:
1.
General valuation allowance consistent with the Contingencies topic of the FASB ASC.
2.
Classified loss reserves on specific relationships. Specific allowances for identified problem loans are determined in accordance with the Receivables topic of the FASB ASC.
3.
The unallocated allowance provides for other factors inherent in our loan portfolio that may not have been contemplated in the general and specific components of the allowance. This unallocated amount generally comprises less than 5% of the allowance. The unallocated amount is reviewed quarterly based on trends in credit losses, the results of credit reviews and overall economic trends.
The general valuation allowance is systematically calculated quarterly using quantitative and qualitative information about specific loan classes. The minimum required level an entity develops a methodology to determine its allowance for loan and lease losses is by general categories of loans, such as commercial business, real estate, and consumer. However, the Company’s methodology in determining its allowance for loan and lease losses is prepared in a more detailed manner at the loan class level, utilizing specific categories such as commercial business secured, commercial business unsecured, real estate commercial land, and real estate income property multifamily. The quantitative information uses historical losses from a specific loan class and incorporates the loan’s risk rating migration from origination to the point of loss based upon the consideration of an appropriate look back period.
A loan’s risk rating is primarily determined based upon the borrower’s ability to fulfill its debt obligation from a cash flow perspective. In the event there is financial deterioration of the borrower, the borrower’s other sources of income or repayment are also considered, including recent appraisal values for collateral dependent loans. The qualitative information takes into account general economic and business conditions affecting our marketplace, seasoning of the loan portfolio, duration of the business cycle, etc. to ensure our methodologies reflect the current economic environment and other factors as using historical loss information exclusively may not give an accurate estimate of inherent losses within the Company’s loan portfolio.
When a loan is deemed to be impaired, the Company has to determine if a specific valuation allowance is required for that loan. The specific valuation allowance is a reserve, calculated at the individual loan level, for each loan determined to be both, impaired and containing a value less than its recorded investment. The Company measures the impairment based on the discounted expected future cash flows, observable market price, or the fair value of the collateral less selling costs if the loan is collateral dependent or if foreclosure is probable. The specific reserve for each loan is equal to the difference between the recorded investment in the loan and its determined impairment value.
The ALLL is increased by provisions for loan and lease losses (“provision”) charged to expense, and is reduced by loans charged off, net of recoveries. While the Company’s management believes the best information available is used to determine the ALLL, changes in market conditions could result in adjustments to the ALLL, affecting net income, if circumstances differ from the assumptions used in determining the ALLL.
We have used the same methodology for ALLL calculations during 2013, 2012 and 2011. Adjustments to the percentages of the ALLL allocated to loan categories are made based on trends with respect to delinquencies and problem loans within each class of loans. The Company reviews the ALLL quantitative and qualitative methodology on a quarterly basis and makes adjustments when appropriate. The Company continues to strive towards maintaining a conservative approach to credit quality and will continue to prudently adjust our ALLL as necessary in order to maintain adequate reserves. The Company carefully monitors the loan portfolio and continues to emphasize the importance of credit quality.
Once it is determined that all or a portion of a loan balance is uncollectable, and the amount can be reasonably estimated, the uncollectable portion of the loan is charged-off.
The following tables show a detailed analysis of the allowance for loan and lease losses for noncovered loans for the years ended December 31, 2013, 2012 and 2011: 
 
 
Beginning
Balance
 
Charge-offs
 
Recoveries
 
Provision (Recovery)
 
Ending
Balance
 
Specific
Reserve
 
General
Allocation
Year ended December 31, 2013
 
(in thousands)
Noncovered loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
27,270

 
$
(4,148
)
 
$
1,512

 
$
6,393

 
$
31,027

 
$
343

 
$
30,684

Unsecured
 
753

 
(794
)
 
932

 
(195
)
 
696

 
35

 
661

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
694

 
(228
)
 
270

 
516

 
1,252

 
138

 
1,114

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
460

 
(20
)
 
169

 
(120
)
 
489

 
—

 
489

Income property
 
11,033

 
(1,405
)
 
489

 
(883
)
 
9,234

 
26

 
9,208

Owner occupied
 
6,362

 
(1,118
)
 
375

 
(2,014
)
 
3,605

 
1,073

 
2,532

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
1,171

 
(32
)
 
2,553

 
(3,082
)
 
610

 
71

 
539

Residential construction
 
635

 
(101
)
 
112

 
176

 
822

 
—

 
822

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
316

 
—

 
—

 
(31
)
 
285

 
—

 
285

Owner occupied
 
102

 
—

 
—

 
(44
)
 
58

 
—

 
58

Consumer
 
2,437

 
(2,242
)
 
552

 
1,800

 
2,547

 
4

 
2,543

Unallocated
 
1,011

 
—

 
—

 
644

 
1,655

 
—

 
1,655

Total
 
$
52,244

 
$
(10,088
)
 
$
6,964

 
$
3,160

 
$
52,280

 
$
1,690

 
$
50,590

 
 
Beginning
Balance
 
Charge-offs
 
Recoveries
 
Provision (Recovery)
 
Ending
Balance
 
Specific
Reserve
 
General
Allocation
Year Ended December 31, 2012
 
(in thousands)
Noncovered loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
24,745

 
$
(10,029
)
 
$
1,354

 
$
11,200

 
$
27,270

 
$
113

 
$
27,157

Unsecured
 
689

 
(144
)
 
194

 
14

 
753

 
92

 
661

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
654

 
(549
)
 
285

 
304

 
694

 
112

 
582

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
488

 
(526
)
 
63

 
435

 
460

 
—

 
460

Income property
 
9,551

 
(4,030
)
 
905

 
4,607

 
11,033

 
1,040

 
9,993

Owner occupied
 
9,606

 
(918
)
 
631

 
(2,957
)
 
6,362

 
38

 
6,324

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
2,331

 
(989
)
 
1,059

 
(1,230
)
 
1,171

 
—

 
1,171

Residential construction
 
864

 
(617
)
 
429

 
(41
)
 
635

 
—

 
635

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
665

 
(93
)
 
66

 
(322
)
 
316

 
—

 
316

Owner occupied
 
35

 
—

 
—

 
67

 
102

 
—

 
102

Consumer
 
2,719

 
(2,534
)
 
1,171

 
1,081

 
2,437

 
—

 
2,437

Unallocated
 
694

 
—

 
—

 
317

 
1,011

 
—

 
1,011

Total
 
$
53,041

 
$
(20,429
)
 
$
6,157

 
$
13,475

 
$
52,244

 
$
1,395

 
$
50,849


 
 
Beginning
Balance
 
Charge-offs
 
Recoveries
 
Provision (Recovery)
 
Ending
Balance
 
Specific
Reserve
 
General
Allocation
Year ended December 31, 2011
 
(in thousands)
Noncovered loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
21,811

 
$
(7,270
)
 
$
1,154

 
$
9,050

 
$
24,745

 
$
954

 
$
23,791

Unsecured
 
738

 
(639
)
 
1,444

 
(854
)
 
689

 
97

 
592

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
1,100

 
(717
)
 
80

 
191

 
654

 
96

 
558

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
634

 
(660
)
 
12

 
502

 
488

 
—

 
488

Income property
 
15,210

 
(1,407
)
 
414

 
(4,666
)
 
9,551

 
63

 
9,488

Owner occupied
 
9,692

 
(1,620
)
 
33

 
1,501

 
9,606

 
185

 
9,421

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
3,769

 
(1,419
)
 
1,978

 
(1,997
)
 
2,331

 
—

 
2,331

Residential construction
 
2,292

 
(1,068
)
 
113

 
(473
)
 
864

 
59

 
805

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
274

 
(2,213
)
 
—

 
2,604

 
665

 
—

 
665

Owner occupied
 
70

 
—

 
—

 
(35
)
 
35

 
—

 
35

Consumer
 
2,120

 
(3,918
)
 
351

 
4,166

 
2,719

 
30

 
2,689

Unallocated
 
3,283

 
—

 
—

 
(2,589
)
 
694

 
—

 
694

Total
 
$
60,993

 
$
(20,931
)
 
$
5,579

 
$
7,400

 
$
53,041

 
$
1,484

 
$
51,557

Changes in the allowance for unfunded commitments and letters of credit, a component of other liabilities in the consolidated balance sheet, are summarized as follows:
 
 
Years Ended December 31,
 
 
2013
 
2012
 
2011
 
 
(in thousands)
Beginning balance
 
$
1,915

 
$
1,535

 
$
1,165

Net changes in the allowance for unfunded commitments and letters of credit
 
590

 
380

 
370

Ending balance
 
$
2,505

 
$
1,915

 
$
1,535


Risk Elements
The extension of credit in the form of loans to individuals and businesses is one of our principal commerce activities. Our policies and applicable laws and regulations require risk analysis as well as ongoing portfolio and credit management. We manage our credit risk through lending limit constraints, credit review, approval policies and extensive, ongoing internal monitoring. We also manage credit risk through diversification of the loan portfolio by type of loan, type of industry, type of borrower and by limiting the aggregation of debt to a single borrower.
Risk ratings are reviewed and updated whenever appropriate, with more periodic reviews as the risk and dollar value of loss on the loan increases. In the event full collection of principal and interest is not reasonably assured, the loan is appropriately downgraded and, if warranted, placed on nonaccrual status even though the loan may be current as to principal and interest payments. Additionally, we assess whether an impairment of a loan warrants specific reserves or a write-down of the loan.
Pass loans are generally considered to have sufficient sources of repayment in order to repay the loan in full in accordance with all terms and conditions. Special mention loans have potential weaknesses that, if left uncorrected, may result in deterioration of the repayment prospects for the asset or in the Company's credit position at some future date. Loans with a risk rating of Substandard or worse are reported as classified loans in our allowance for loan and lease losses analysis. We review these loans to assess the ability of our borrowers to service all interest and principal obligations and, as a result, the risk rating may be adjusted accordingly. Substandard loans reflect loans where a loss is possible if loan weaknesses are not corrected. Doubtful loans have a high probability of loss, however, the amount of loss has not yet been determined. Loss loans are considered uncollectable and when identified, are charged off.
The following is an analysis of the credit quality of our noncovered loan portfolio as of December 31, 2013 and 2012:
 
 
 
Pass
 
Special Mention
 
Substandard
 
Doubtful
 
Loss
 
Total
December 31, 2013
 
(in thousands)
Noncovered loans:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
1,372,038

 
$
43,309

 
$
68,300

 
$
—

 
$
—

 
$
1,483,647

Unsecured
 
72,226

 
199

 
179

 
—

 
—

 
72,604

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
98,626

 
1,567

 
5,699

 
—

 
—

 
105,892

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
137,850

 
—

 
4,984

 
—

 
—

 
142,834

Income property
 
1,108,033

 
5,473

 
32,926

 
—

 
—

 
1,146,432

Owner occupied
 
748,725

 
—

 
11,884

 
—

 
—

 
760,609

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
7,526

 
—

 
4,144

 
—

 
—

 
11,670

Residential construction
 
36,270

 
2,352

 
3,370

 
—

 
—

 
41,992

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
86,206

 
—

 
315

 
—

 
—

 
86,521

Owner occupied
 
38,916

 
—

 
—

 
—

 
—

 
38,916

Consumer
 
321,348

 
331

 
6,188

 
467

 
—

 
328,334

Total
 
$
4,027,764

 
$
53,231

 
$
137,989

 
$
467

 
$
—

 
4,219,451

Less:
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses
 
52,280

Noncovered loans, net
 
$
4,167,171

 
 
Pass
 
Special Mention
 
Substandard
 
Doubtful
 
Loss
 
Total
December 31, 2012
 
(in thousands)
Noncovered loans:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
1,011,722

 
$
29,222

 
$
65,607

 
$
—

 
$
—

 
$
1,106,551

Unsecured
 
44,788

 
26

 
529

 
—

 
—

 
45,343

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
40,346

 
406

 
3,440

 
—

 
—

 
44,192

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
43,401

 
—

 
3,926

 
—

 
—

 
47,327

Income property
 
581,671

 
3,688

 
29,453

 
—

 
—

 
614,812

Owner occupied
 
357,063

 
1,848

 
36,262

 
—

 
—

 
395,173

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
12,741

 
1,351

 
4,404

 
—

 
—

 
18,496

Residential construction
 
28,705

 
1,142

 
1,817

 
—

 
—

 
31,664

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
28,342

 
—

 
—

 
—

 
—

 
28,342

Owner occupied
 
36,211

 
—

 
—

 
—

 
—

 
36,211

Consumer
 
151,049

 
75

 
6,475

 
—

 
—

 
157,599

Total
 
$
2,336,039

 
$
37,758

 
$
151,913

 
$
—

 
$
—

 
2,525,710

Less:
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses
 
52,244

Noncovered loans, net
 
$
2,473,466

Noncovered Other Real Estate Owned
Noncovered Other Real Estate Owned
Noncovered Other Real Estate Owned
The following table sets forth activity in noncovered OREO for the period:
 
 
December 31, 2013
 
December 31, 2012
 
 
(in thousands)
Noncovered OREO:
 
 
 
 
Balance, beginning of period
 
$
10,676

 
$
22,893

Established through acquisitions
 
14,708

 
—

Transfers in, net of write-downs ($90 and $205, respectively)
 
9,273

 
7,461

Additions to OREO
 
3,577

 
11

Additional OREO write-downs
 
(1,753
)
 
(4,816
)
Proceeds from sale of OREO property
 
(13,903
)
 
(15,689
)
Net gain on sale of OREO
 
1,256

 
816

Total noncovered OREO, end of period
 
$
23,834

 
$
10,676

Covered Assets and FDIC Loss-sharing Asset
Covered Assets and FDIC Loss sharing Asset
Covered Assets and FDIC Loss-sharing Asset
Covered Assets
Covered assets consist of loans and OREO acquired in certain FDIC-assisted acquisitions during 2010 and 2011, for which the Bank entered into loss-sharing agreements, whereby the FDIC will cover a substantial portion of future losses on loans (and related unfunded loan commitments), OREO and certain accrued interest on loans during the terms of the agreements. Under the terms of the loss-sharing agreements, the FDIC will absorb 80% of losses and share in 80% of loss recoveries up to specified amounts. With respect to loss-sharing agreements for two acquisitions completed in 2010, after those specified amounts, the FDIC will absorb 95% of losses and share in 95% of loss recoveries. The loss-sharing provisions of the agreements for commercial and single-family mortgage loans are in effect for five and ten years, respectively, from the acquisition dates and the loss recovery provisions are in effect for eight and ten years, respectively, from the acquisition dates.
Ten years and forty-five days after the acquisition dates, the Bank shall pay to the FDIC a clawback in the event the losses from the acquisitions fail to reach stated levels. The amount of the clawback is determined by a formula specified in each individual loss-sharing agreement. As of December 31, 2013 and 2012, the net present value of the Bank’s estimated clawback liability is $3.9 million and $3.6 million, respectively, which is included in other liabilities on the Consolidated Balance Sheet.
The following is an analysis of our covered loans, net of related allowance for losses as of December 31, 2013 and 2012:
 
 
December 31, 2013
 
December 31, 2012
Covered loans:
 
(dollars in thousands)
Commercial business
 
$
72,870

 
$
125,373

Real estate:
 
 
 
 
One-to-four family residential
 
41,642

 
57,150

Commercial and multifamily residential
 
170,879

 
233,106

Total real estate
 
212,521

 
290,256

Real estate construction:
 
 
 
 
One-to-four family residential
 
14,781

 
25,398

Commercial and multifamily residential
 
6,869

 
15,251

Total real estate construction
 
21,650

 
40,649

Consumer
 
34,101

 
44,516

Subtotal of covered loans
 
341,142

 
500,794

Less:
 
 
 
 
Valuation discount resulting from acquisition accounting
 
43,297

 
79,401

Allowance for loan losses
 
20,174

 
30,056

Covered loans, net of valuation discounts and allowance for loan losses
 
$
277,671

 
$
391,337


Acquired impaired loans are accounted for under ASC 310-30 and initially measured at fair value based on expected future cash flows over the life of the loans. Acquired loans that have common risk characteristics are aggregated into pools. The Company remeasures contractual and expected cash flows, at the pool-level, on a quarterly basis.
Contractual cash flows are calculated based upon the loan pool terms after applying a prepayment factor. Calculation of the applied prepayment factor for contractual cash flows is the same as described below for expected cash flows.
Inputs to the determination of expected cash flows include cumulative default and prepayment data as well as loss severity and recovery lag information. Cumulative default and prepayment data are calculated via a transition matrix. The transition matrix is a matrix of probability values that specifies the probability of a loan pool transitioning into a particular delinquency state (e.g. 0-30 days past due, 31 to 60 days, etc.) given its delinquency state at the remeasurement date. Loss severity factors are based upon either actual charge-off data within the loan pools or industry averages and recovery lags are based upon the collateral within the loan pools.
Acquired impaired loans are also subject to the Company’s internal and external credit review and are risk rated using the same criteria as loans originated by the Company. However, risk ratings are not a clear indicator of losses on acquired loans as the loans were acquired with a significant discount and a majority of the losses are recoverable from the FDIC under the loss-sharing agreements.
Losses attributable to draws on acquired loans, advanced subsequent to the loan acquisition date, are accounted for under ASC 450-20 and those amounts are also subject to the Company’s internal and external credit review. An allowance for loan losses is estimated in a similar manner as the originated loan portfolio, and a provision for loan losses is charged to earnings as necessary.
The excess of cash flows expected to be collected over the initial fair value of acquired impaired loans is referred to as the accretable yield and is accreted into interest income over the estimated life of the acquired loans using the effective yield method. Other adjustments to the accretable yield include changes in the estimated remaining life of the acquired loans, changes in expected cash flows and changes of indices for acquired loans with variable interest rates.
The following table shows the changes in accretable yield for acquired loans for the years ended December 31, 2013, 2012, and 2011:
 
 
Years Ended December 31,
 
 
2013
 
2012
 
2011
 
 
(in thousands)
Balance at beginning of period
 
$
166,888

 
$
259,669

 
$
256,572

Additions resulting from acquisitions
 
—

 
—

 
59,810

Accretion
 
(51,816
)
 
(86,671
)
 
(90,378
)
Disposals
 
(6,898
)
 
(12,856
)
 
(31,483
)
Reclassifications from nonaccretable difference
 
(4,267
)
 
6,746

 
65,148

Balance at end of period
 
$
103,907

 
$
166,888

 
$
259,669


During the year ended December 31, 2013, the Company recorded a provision recapture for losses on covered loans of $3.3 million. Of this amount, $1.7 million was impairment recapture calculated in accordance with ASC 310-30 and $1.6 million was a provision recapture to adjust the allowance for loss calculated under ASC 450-20 for draws on acquired loans. The impact to earnings of the $3.3 million of provision recapture for covered loans was substantially offset through noninterest income by a charge to the change in FDIC loss-sharing asset. For the year ended December 31, 2012, the Company recorded a provision for loan losses of $25.9 million which was partially offset by an increase to the FDIC loss-sharing asset and for the year ended December 31, 2011, the Company recorded a provision recapture for losses on covered loans of $1.6 million which was partially offset by a charge to the change in FDIC loss-sharing asset.
The changes in the ALLL for covered loans for the years ended December 31, 2013, 2012, and 2011 are summarized as follows:
 
 
Years Ended December 31,
 
 
2013
 
2012
 
2011
 
 
(in thousands)
Balance at beginning of year
 
$
30,056

 
$
4,944

 
$
6,055

Loans charged off
 
(13,853
)
 
(5,112
)
 
(1,488
)
Recoveries
 
7,232

 
4,332

 
2,025

Provision charged to expense
 
(3,261
)
 
25,892

 
(1,648
)
Balance at end of year
 
$
20,174

 
$
30,056

 
$
4,944


The following is an analysis of the credit quality of our covered loan portfolio as of December 31, 2013 and 2012:
 
 
Pass
 
Special Mention
 
Substandard
 
Doubtful
 
Loss
 
Total
December 31, 2013
 
(in thousands)
Covered loans:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
48,510

 
$
2,849

 
$
18,291

 
$
—

 
$
—

 
$
69,650

Unsecured
 
2,732

 
396

 
92

 
—

 
—

 
3,220

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
35,066

 
1,842

 
4,734

 
—

 
—

 
41,642

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
10,778

 
198

 
7,589

 
—

 
—

 
18,565

Income property
 
55,985

 
3,950

 
10,657

 
—

 
—

 
70,592

Owner occupied
 
67,653

 
111

 
13,958

 
—

 
—

 
81,722

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
4,674

 
2,739

 
1,936

 
—

 
—

 
9,349

Residential construction
 
3,008

 
—

 
2,424

 
—

 
—

 
5,432

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
3,806

 
—

 
1,709

 
—

 
—

 
5,515

Owner occupied
 
1,074

 
—

 
280

 
—

 
—

 
1,354

Consumer
 
30,722

 
33

 
3,319

 
27

 
—

 
34,101

Total
 
$
264,008

 
$
12,118

 
$
64,989

 
$
27

 
$
—

 
341,142

Less:
 
 
 
 
 
 
 
 
 
 
 
 
Valuation discount resulting from acquisition accounting
 
43,297

Allowance for loan losses
 
20,174

Covered loans, net
 
$
277,671

 
 
Pass
 
Special Mention
 
Substandard
 
Doubtful
 
Loss
 
Total
December 31, 2012
 
(in thousands)
Covered loans:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
71,621

 
$
1,823

 
$
45,150

 
$
—

 
$
—

 
$
118,594

Unsecured
 
4,988

 
—

 
1,791

 
—

 
—

 
6,779

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
44,782

 
1,344

 
11,024

 
—

 
—

 
57,150

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
16,336

 
—

 
10,292

 
—

 
—

 
26,628

Income property
 
81,205

 
864

 
23,315

 
—

 
—

 
105,384

Owner occupied
 
82,222

 
3,318

 
15,554

 
—

 
—

 
101,094

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
4,817

 
3,273

 
5,743

 
—

 
—

 
13,833

Residential construction
 
6,050

 
—

 
5,515

 
—

 
—

 
11,565

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
4,419

 
—

 
7,901

 
—

 
—

 
12,320

Owner occupied
 
1,107

 
—

 
1,824

 
—

 
—

 
2,931

Consumer
 
38,973

 
381

 
5,162

 
—

 
—

 
44,516

Total
 
$
356,520

 
$
11,003

 
$
133,271

 
$
—

 
$
—

 
500,794

Less:
 
 
 
 
 
 
 
 
 
 
 
 
Valuation discount resulting from acquisition accounting
 
79,401

Allowance for loan losses
 
30,056

Covered loans, net
 
$
391,337


The Company did not acquire any loans accounted for under ASC 310-30 during 2013 or 2012.
 

The following table sets forth activity in covered OREO at carrying value for the years ended December 31, 2013 and 2012:
 
 
 
December 31, 2013
 
December 31, 2012
 
 
(in thousands)
Covered OREO:
 
 
 
 
Balance, beginning of period
 
$
16,311

 
$
28,126

Transfers in
 
8,827

 
14,166

Additional OREO write-downs
 
(282
)
 
(3,484
)
Proceeds from sale of OREO property
 
(22,046
)
 
(33,315
)
Net gain on sale of OREO
 
9,283

 
10,818

Total covered OREO, end of period
 
$
12,093

 
$
16,311


The covered OREO is covered by loss-sharing agreements with the FDIC in which the FDIC will assume 80% of additional write-downs and losses on covered OREO sales, or 95%, if applicable, of additional write-downs and losses on covered OREO sales if the minimum loss share thresholds are met.
FDIC Loss-sharing Asset
At December 31, 2013 and 2012, the FDIC loss-sharing asset is comprised of an FDIC indemnification asset of $37.9 million and $87.7 million, respectively, and an FDIC receivable of $2.0 million and $8.6 million, respectively. The indemnification represents the cash flows the Company expects to collect from the FDIC under the loss-sharing agreements and the FDIC receivable represents the reimbursable amounts from the FDIC that have not yet been received.
For covered loans, the Company remeasures contractual and expected cash flows on a quarterly basis. When the quarterly remeasurement process results in a decrease in expected cash flows due to an increase in expected credit losses, impairment is recorded. As a result of this impairment, the indemnification asset is increased to reflect anticipated future cash to be received from the FDIC. Consistent with the loss-sharing agreements between the Company and the FDIC, the amount of the increase to the indemnification asset is measured as 80% of the resulting impairment.
Alternatively, when the quarterly remeasurement results in an increase in expected future cash flows due to a decrease in expected credit losses, the nonaccretable difference decreases and the effective yield of the related loan portfolio is increased. As a result of the improved expected cash flows, the indemnification asset would be reduced first by the amount of any impairment previously recorded and, second, by increased amortization over the remaining life of the related loss-sharing agreement.
The following table shows a detailed analysis of the FDIC loss-sharing asset for the years ending December 31, 2013 and 2012:
 
 
2013
 
2012
 
 
(in thousands)
Balance at beginning of period
 
$
96,354

 
$
175,071

Adjustments not reflected in income:
 
 
 
 
Cash received from the FDIC
 
(9,246
)
 
(54,649
)
FDIC reimbursable losses, net
 
(2,245
)
 
399

Adjustments reflected in income:
 
 
 
 
Amortization, net
 
(36,729
)
 
(42,940
)
Loan impairment (recapture)
 
(2,609
)
 
20,714

Sale of other real estate
 
(6,177
)
 
(7,789
)
Write-downs of other real estate
 
364

 
5,190

Other
 
134

 
358

Balance at end of period
 
$
39,846

 
$
96,354

Premises and Equipment
Premises and Equipment
Premises and Equipment
Land, buildings, and furniture and equipment, less accumulated depreciation and amortization, were as follows:
 
 
 
December 31,
 
 
2013
 
2012
 
 
(in thousands)
Land
 
$
48,992

 
$
39,441

Buildings
 
94,878

 
84,407

Leasehold improvements
 
14,254

 
2,684

Furniture and equipment
 
29,465

 
24,110

Vehicles
 
546

 
438

Computer software
 
17,490

 
13,783

Total Cost
 
205,625

 
164,863

Less accumulated depreciation and amortization
 
(50,893
)
 
(46,155
)
Total
 
$
154,732

 
$
118,708


Total depreciation and amortization expense was $10.2 million, $6.3 million, and $5.7 million, for the years ended December 31, 2013, 2012, and 2011, respectively.
Goodwill and Intangible Assets
Goodwill and Intangible Assets
Goodwill and Other Intangible Assets
In accordance with the Intangibles – Goodwill and Other topic of the FASB ASC, goodwill is not amortized but is reviewed for potential impairment at the reporting unit level. Management analyzes its goodwill for impairment on an annual basis and between annual tests in certain circumstances such as material adverse changes in legal, business, regulatory and economic factors. An impairment loss is recorded to the extent that the carrying amount of goodwill exceeds its implied fair value. The Company performed an impairment assessment as of July 31, 2013 and concluded that there was no impairment. As of December 31, 2013 we determined there were no events or circumstances which would more likely than not reduce the fair value of our reporting unit below its carrying amount.
The core deposit intangible (“CDI”) is evaluated for impairment if events and circumstances indicate a possible impairment. The CDI is amortized on an accelerated basis over an estimated life of 10 years.
The following table sets forth activity for goodwill and other intangible assets for the period:
 
 
Years Ended December 31,
 
 
2013
 
2012
 
2011
 
 
(in thousands)
Total goodwill, beginning of period
 
$
115,554

 
$
115,554

 
$
109,639

Established through acquisitions
 
228,398

 
—

 
5,915

Total goodwill, end of period
 
343,952

 
115,554

 
115,554

Other intangible assets, net
 
 
 
 
 
 
Core deposit intangible:
 
 
 
 
 
 
Gross core deposit intangible balance, beginning of period
 
32,441

 
32,441

 
26,652

Accumulated amortization, beginning of period
 
(16,720
)
 
(12,275
)
 
(7,956
)
Core deposit intangible, net, beginning of period
 
15,721

 
20,166

 
18,696

Established through acquisitions
 
15,257

 
—

 
5,789

CDI current period amortization
 
(6,045
)
 
(4,445
)
 
(4,319
)
Total core deposit intangible, end of period
 
24,933

 
15,721

 
20,166

Intangible assets not subject to amortization
 
919

 
—

 
—

Other intangible assets, net at end of period
 
25,852

 
15,721

 
20,166

Total goodwill and intangible assets, end of period
 
$
369,804

 
$
131,275

 
$
135,720


The following table provides the estimated future amortization expense of core deposit intangibles for the succeeding five years:
 
Years Ending December 31,
 
(in thousands)
2014
 
$
5,963

2015
 
4,934

2016
 
4,195

2017
 
3,361

2018
 
2,500

Deposits
Deposits
Deposits
Year-end deposits are summarized in the following table:
 
 
 
December 31,
 
 
2013
 
2012
 
 
(in thousands)
Core deposits:
 
 
 
 
Demand and other noninterest-bearing
 
$
2,171,703

 
$
1,321,171

Interest-bearing demand
 
1,170,006

 
870,821

Money market
 
1,569,261

 
1,043,459

Savings
 
496,444

 
314,371

Certificates of deposit less than $100,000
 
288,943

 
252,544

Total core deposits
 
5,696,357

 
3,802,366

Certificates of deposit greater than $100,000
 
201,498

 
212,924

Certificates of deposit insured through CDARS®
 
19,488

 
26,720

Brokered money market accounts
 
41,765

 
—

Subtotal
 
5,959,108

 
4,042,010

Valuation adjustment resulting from acquisition accounting
 
367

 
75

Total deposits
 
$
5,959,475

 
$
4,042,085


Overdrafts of $1.1 million and $528 thousand were reclassified as loan balances at December 31, 2013 and 2012, respectively.
The following table shows the amount and maturity of time deposits that had balances of $100,000 or greater:
 
Years Ending December 31,
 
(in thousands)
2014
 
$
172,422

2015
 
28,556

2016
 
11,834

2017
 
4,810

2018
 
2,162

Thereafter
 
106

Total
 
$
219,890

Federal Home Loan Bank and Federal Reserve Bank Borrowings
Federal Home Loan Bank and Federal Reserve Bank Borrowings
Federal Home Loan Bank and Federal Reserve Bank Borrowings
FEDERAL HOME LOAN BANK
The Company has entered into borrowing arrangements with the FHLB of Seattle to borrow funds under a short-term floating rate cash management advance program and fixed-term loan agreements. All borrowings are secured by stock of the FHLB and a blanket pledge of qualifying loans receivable. At December 31, 2013 FHLB advances were scheduled to mature as follows:
 
 
 
Federal Home Loan Bank Advances
Fixed rate advances
 
 
Wtd Avg Rate
 
Amount
 
 
(dollars in thousands)
Within 1 year
 
0.23
%
 
$
30,000

Over 1 through 5 years
 
5.66
%
 
1,000

Due after 10 years
 
5.37
%
 
5,000

Total
 
36,000

Valuation adjustment from acquisition accounting
 
606

Total
 
$
36,606


The maximum, average outstanding and year-end balances and average interest rates on advances from the FHLB were as follows for the years ended December 31, 2013, 2012 and 2011:
 
 
 
Years ended December 31,
 
 
2013
 
2012
 
2011
 
 
(dollars in thousands)
Balance at end of year
 
$
36,606

 
$
6,644

 
$
119,009

Average balance during the year
 
$
51,030

 
$
100,337

 
$
120,419

Maximum month-end balance during the year
 
$
190,631

 
$
118,967

 
$
127,426

Weighted average rate during the year
 
1.12
%
 
2.79
%
 
2.76
%
Weighted average rate at December 31
 
1.09
%
 
5.42
%
 
2.81
%

FHLB advances are collateralized by the following:
 
 
 
December 31,
 
 
2013
 
2012
 
 
(in thousands)
Recorded value of blanket pledge on loans receivable
 
$
1,075,389

 
$
443,419

Total
 
$
1,075,389

 
$
443,419

FHLB borrowing capacity
 
$
1,037,159

 
$
435,189


FEDERAL RESERVE BANK
The Company is also eligible to borrow under the Federal Reserve Bank’s primary credit program, including the Term Auction Facility auctions. All borrowings are secured by certain pledged available for sale investment securities.
Although the Company has not had FRB borrowings in the last three years, the Company pledges securities and loans for borrowing capacity at the Federal Reserve Bank.
The following table shows amounts pledged to the Federal Reserve Bank:
 
 
 
December 31,
 
 
2013
 
2012
 
 
(in thousands)
Fair value of investment securities
 
$
40,210

 
$
45,641

Recorded value of pledged commercial loans
 
45,242

 
13,815

Total
 
$
85,452

 
$
59,456

Federal Reserve Bank borrowing capacity
 
$
85,452

 
$
59,456

Other Borrowings
Other Borrowings
Other Borrowings
Securities Sold Under Agreements to Repurchase
The Company has entered into wholesale repurchase agreements with certain brokers. At December 31, 2013 and 2012, the Company held $25.0 million in wholesale repurchase agreements with an interest rate of 1.88%. Securities available for sale with a carrying amount of $28.2 million at December 31, 2013 were pledged as collateral for the repurchase agreement borrowings. The broker holds the securities while the Company continues to receive the principal and interest payments from the securities. Upon maturity of the agreement, the pledged securities will be returned to the Company.
Derivatives and Balance Sheet Offsetting
Derivatives and Balance Sheet Offsetting
Derivatives and Balance Sheet Offsetting
The Company periodically enters into certain commercial loan interest rate swap agreements in order to provide commercial loan customers the ability to convert from variable to fixed interest rates. Under these agreements, the Company enters into a variable-rate loan agreement with a customer in addition to a swap agreement. This swap agreement effectively converts the customer’s variable rate loan into a fixed rate. The Company then enters into a corresponding swap agreement with a third party in order to offset its exposure on the variable and fixed components of the customer agreement. As the interest rate swap agreements with the customers and third parties are not designated as hedges under the Derivatives and Hedging topic of the FASB ASC, the instruments are marked to market in earnings. The notional amount of open interest rate swap agreements at December 31, 2013 and 2012 was $179.5 million and $177.0 million, respectively. There was no impact to the statement of operations for the years ending December 31, 2013, 2012 and 2011.
The following table presents the fair value and balance sheet classification of derivatives not designated as hedging instruments at December 31, 2013 and 2012:
 
Asset Derivatives
 
Liability Derivatives
 
2013
 
2012
 
2013
 
2012
(in thousands)
Balance Sheet
Location
 
Fair Value
 
Balance Sheet
Location
 
Fair Value
 
Balance Sheet
Location
 
Fair Value
 
Balance Sheet
Location
 
Fair Value
Interest rate contracts
Other assets
 
$
9,044

 
Other assets
 
$
14,921

 
Other liabilities
 
$
9,044

 
Other liabilities
 
$
14,921

The Company is party to interest rate swap agreements and repurchase agreements that are subject to enforceable master netting arrangements or similar agreements. Under these agreements, the Company may have the right to net settle multiple contracts with the same counterparty. The following tables show the gross interest rate swap agreements and repurchase agreements in the consolidated balance sheets and the respective collateral received or pledged in the form of other financial instruments, which are generally marketable securities. The collateral amounts in these tables are limited to the outstanding balances of the related asset or liability. Therefore, instances of overcollateralization are not shown.
 
Gross Amounts of Recognized Assets/Liabilities
 
Gross Amounts Offset in the Consolidated Balance Sheets
 
Net Amounts of Assets/Liabilities Presented in the Consolidated Balance Sheets
 
Gross Amounts Not Offset in the Consolidated Balance Sheets
 
 
 
 
Collateral Posted
 
Net Amount
December 31, 2013
(in thousands)
Assets
 
 
 
 
 
 
 
 
 
Interest rate contracts
$
9,044

 
$
—

 
$
9,044

 
$
—

 
$
9,044

Liabilities
 
 
 
 
 
 
 
 
 
Interest rate contracts
$
9,044

 
$
—

 
$
9,044

 
$
(9,044
)
 
$
—

Repurchase agreements
$
25,000

 
$
—

 
$
25,000

 
$
(25,000
)
 
$
—

 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
Interest rate contracts
$
14,921

 
$
—

 
$
14,921

 
$
—

 
$
14,921

Liabilities
 
 
 
 
 
 
 
 
 
Interest rate contracts
$
14,921

 
$
—

 
$
14,921

 
$
(14,921
)
 
$
—

Repurchase agreements
$
25,000

 
$
—

 
$
25,000

 
$
(25,000
)
 
$
—

Employee Benefit Plans
Employee Benefit Plans
Employee Benefit Plans
401(k) Plan
The Company maintains defined contribution and profit sharing plans in conformity with the provisions of section 401(k) of the Internal Revenue Code. The Columbia Bank 401(k) and Profit Sharing Plan (the “401(k) Plan”), permits eligible Columbia Bank employees, those who are at least 18 years of age and have completed six months of service, to contribute up to 75% of their eligible compensation to the 401(k) Plan. On a per pay period basis the Company is required to match 50% of employee contributions up to 3% of each employee’s eligible compensation. Additionally, as determined annually by the Board of Directors of the Company, the 401(k) Plan provides for a non-matching discretionary profit sharing contribution. The Company contributed $1.9 million during 2013, $1.4 million during 2012, and $1.2 million during 2011, in matching funds to the 401(k) Plan. The Company’s discretionary profit sharing contributions were $4.0 million during 2013, $2.9 million during 2012 and $2.6 million during 2011.
Employee Stock Purchase Plan
The Company maintains an “Employee Stock Purchase Plan” (the “ESP Plan”) in which substantially all employees of the Company are eligible to participate. The ESP Plan provides participants the opportunity to purchase common stock of the Company at a discounted price. Under the ESP Plan, participants can purchase common stock of the Company for 90% of the lowest price on either the first or last day in each of two six month look-back periods. The look-back periods are January 1st through June 30th and July 1st through December 31st of each calendar year. The 10% discount is recognized by the Company as compensation expense and does not have a material impact on net income or earnings per common share. Participants of the ESP Plan purchased 32,598 shares for $686 thousand in 2013, 39,393 shares for $725 thousand in 2012 and 39,989 shares for $690 thousand in 2011. At December 31, 2013 there were 575,912 shares available for purchase under the ESP plan.
Supplemental Compensation Plan
The Company maintains supplemental compensation arrangements (“Unit Plans”) to provide benefits for certain employees. The Unit Plans generally vest over a 4-10 year period and provide a fixed annual benefit over a 5-10 year period. At December 31, 2013 and 2012 the liability associated with these plans was $4.7 million and $4.7 million, respectively. Expense associated with these plans for the years ended December 31, 2013, 2012 and 2011 was $458 thousand, $677 thousand and $655 thousand, respectively.
Supplemental Executive Retirement Plan
The Company maintains a supplemental executive retirement plan (the “SERP”), a nonqualified deferred compensation plan that provides retirement benefits to certain highly compensated executives. The SERP is unsecured and unfunded and there are no program assets. The SERP projected benefit obligation, which represents the vested net present value of future payments to individuals under the plan is accrued over the estimated remaining term of employment of the participants and has been determined by actuarial valuation using the “RP-2000 Annuity Mortality Table” for the mortality assumptions and discount rate of 5.10% for both 2013 and 2012. Additional assumptions and features of the plan are a normal retirement age of 65 and a 2% annual cost of living benefit adjustment. The projected benefit obligation is included in other liabilities on the Consolidated Balance Sheets.
The following table reconciles the accumulated liability for the projected benefit obligation:
 
 
 
December 31,
2013
 
2012
 
 
(in thousands)
Balance at beginning of year
 
$
11,616

 
$
11,237

Established through acquisitions
 
3,398

 
—

Change in actuarial loss
 
2,212

 
(80
)
Benefit expense
 
1,880

 
1,017

Benefit payments
 
(2,683
)
 
(558
)
Balance at end of year
 
$
16,423

 
$
11,616


The benefits expected to be paid in conjunction with the SERP are presented in the following table:
 
Years Ending December 31,
 
(in thousands)
2014
 
$
1,702

2015
 
975

2016
 
994

2017
 
1,088

2018
 
1,355

2019 through 2023
 
8,852

Total
 
$
14,966

Commitments and Contingent Liabilities
Commitments and Contingent Liabilities
Commitments and Contingent Liabilities
Lease Commitments: The Company leases locations as well as equipment under various non-cancellable operating leases that expire between 2014 and 2045. The majority of the leases contain renewal options and provisions for increases in rental rates based on an agreed upon index or predetermined escalation schedule. As of December 31, 2013, minimum future rental payments, exclusive of taxes and other charges, of these leases were: 
Years Ending December 31,
 
(in thousands)
2014
 
$
8,033

2015
 
6,787

2016
 
4,847

2017
 
3,642

2018
 
3,111

Thereafter
 
13,105

Total minimum payments
 
$
39,525


Total rental expense on buildings and equipment, net of rental income of $673 thousand, $639 thousand and $655 thousand, was $8.5 million, $4.5 million and $4.6 million, for the years ended December 31, 2013, 2012 and 2011, respectively.
Financial Instruments with Off-Balance Sheet Risk: In the normal course of business, the Company makes loan commitments (typically unfunded loans and unused lines of credit) and issues standby letters of credit to accommodate the financial needs of its customers.
Standby letters of credit commit the Company to make payments on behalf of customers under specified conditions. Historically, no significant losses have been incurred by the Company under standby letters of credit. Both arrangements have credit risk essentially the same as that involved in extending loans to customers and are subject to the Company’s normal credit policies, including collateral requirements, where appropriate. At December 31, 2013 and 2012, the Company’s loan commitments amounted to $1.37 billion and $888.5 million, respectively. Standby letters of credit were $36.7 million and $19.5 million at December 31, 2013 and 2012, respectively. In addition, commitments under commercial letters of credit used to facilitate customers’ trade transactions and other off-balance sheet liabilities amounted to $2.7 million and $46 thousand at December 31, 2013 and 2012, respectively.
Legal Proceedings: The Company and its subsidiaries are from time to time defendants in and are threatened with various legal proceedings arising from their regular business activities. Management, after consulting with legal counsel, is of the opinion that the ultimate liability, if any, resulting from these pending or threatened actions and proceedings will not have a material effect on the financial statements of the Company.
Shareholders' Equity
Shareholders' Equity
Shareholders’ Equity
Preferred Stock. In conjunction with the acquisition of West Coast, the Company issued 8,782 shares of mandatorily convertible cumulative participating preferred stock, Series B. The Series B Preferred Stock is not subject to the operation of a sinking fund. The Series B Preferred Stock is not redeemable by the Company and is perpetual with no maturity. The holders of Series B Preferred Stock have no general voting rights. If the Company declares and pays a dividend to its common shareholders, it must declare and pay to its holders of Series B Preferred Stock, on the same date, a dividend in an amount per share of the Series B Preferred Stock that is intended to provide such holders dividends in the amount they would have received if shares of Series B Preferred Stock had been converted into Common Stock as of that date. The outstanding shares of Series B Preferred Stock are convertible into 102,363 shares of Company Common Stock.
Warrants to Purchase Common Stock. In conjunction with the acquisition of West Coast, the Company issued Amended and Restated Warrants (the "Warrants") to purchase an aggregate 2,214,639 shares of Company common stock at an exercise price of $8.58 per share or $19.0 million in aggregate. The Company's Amended and Restated Warrants amended and restated Class C Warrants previously issued by West Coast. The Warrants were immediately exercisable and will expire on October 23, 2016.
Dividends. On January 24, 2013, the Company declared a quarterly cash dividend of $0.10 per share payable on February 20, 2013 to shareholders of record as of the close of business on February 6, 2013. On April 24, 2013 the Company declared a quarterly cash dividend of $0.10 per share payable on May 22, 2013 to shareholders of record at the close of business May 8, 2013. On July 25, 2013 the Company declared a quarterly cash dividend of $0.10 per share payable on August 21, 2013 to shareholders of record at the close of business August 7, 2013. On October 24, 2013 the Company declared a quarterly cash dividend of $0.11 per share payable on November 20, 2013 to shareholders of record at the close of business November 6, 2013. Subsequent to year end, on January 23, 2014 the Company declared a quarterly cash dividend of $0.12 per share payable on February 19, 2014, to shareholders of record at the close of business on February 5, 2014.
The payment of cash dividends is subject to Federal regulatory requirements for capital levels and other restrictions. In addition, the cash dividends paid by Columbia Bank to the Company are subject to both Federal and State regulatory requirements.
Stock Repurchase Program
In 2011, the Board of Directors authorized the repurchase of 2 million shares of Columbia common stock. The Company may purchase the shares from time to time in the open market or in private transactions, under conditions which allow such repurchases to be accretive to earnings per share while maintaining capital ratios that exceed the guidelines for a well-capitalized financial institution. No shares were repurchased under the stock repurchase program during 2013, 2012 or 2011.
Fair Value Accounting and Measurement
Fair Value Accounting and Measurement
Fair Value Accounting and Measurement
The Fair Value Measurements and Disclosures topic of the FASB ASC defines fair value, establishes a consistent framework for measuring fair value and expands disclosure requirements about fair value. We hold fixed and variable rate interest-bearing securities, investments in marketable equity securities and certain other financial instruments, which are carried at fair value. Fair value is determined based upon quoted prices when available or through the use of alternative approaches, such as matrix or model pricing, when market quotes are not readily accessible or available.
The valuation techniques are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our own market assumptions. These two types of inputs create the following fair value hierarchy:
Level 1 – Quoted prices for identical instruments in active markets that are accessible at the measurement date.
Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model derived valuations whose inputs are observable or whose significant value drivers are observable.
Level 3 – Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable.
Fair values are determined as follows:
Securities at fair value are priced using a combination of market activity, industry recognized information sources, yield curves, discounted cash flow models and other factors. These fair value calculations are considered a Level 2 input method under the provisions of the Fair Value Measurements and Disclosures topic of the FASB ASC for all securities other than U.S. Treasury notes, which are considered a Level 1 input method.
Interest rate contract positions are valued in models, which use as their basis, readily observable market parameters and are classified within Level 2 of the valuation hierarchy.
The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at December 31, 2013 and 2012 by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:
 
 
Fair value  at
December 31, 2013
 
Fair Value Measurements at Reporting Date Using
 
 
Level 1
 
Level 2
 
Level 3
 
 
(in thousands)
Assets
 
 
 
 
 
 
 
 
Securities available for sale
 
 
 
 
 
 
 
 
U.S. government agency and sponsored enterprise mortgage-back securities and collateralized mortgage obligations
 
$
948,408

 
$
—

 
$
948,408

 
$
—

State and municipal securities
 
364,470

 
—

 
364,470

 
—

U.S. government agency and government-sponsored enterprise securities
 
326,039

 
—

 
326,039

 
—

U.S. government securities
 
20,114

 
20,114

 
—

 
—

Other securities
 
5,080

 
—

 
5,080

 
—

Total securities available for sale
 
$
1,664,111

 
$
20,114

 
$
1,643,997

 
$
—

Other assets (Interest rate contracts)
 
$
9,044

 
$
—

 
$
9,044

 
$
—

Liabilities
 
 
 
 
 
 
 
 
Other liabilities (Interest rate contracts)
 
$
9,044

 
$
—

 
$
9,044

 
$
—

 
 
Fair value  at
December 31, 2012
 
Fair Value Measurements at Reporting Date Using
 
 
Level 1
 
Level 2
 
Level 3
 
 
(in thousands)
Assets
 
 
 
 
 
 
 
 
Securities available for sale
 
 
 
 
 
 
 
 
U.S. government agency and sponsored enterprise mortgage-back securities and collateralized mortgage obligations
 
$
572,369

 
$
—

 
$
572,369

 
$
—

State and municipal debt securities
 
285,575

 
—

 
285,575

 
—

U.S. government agency and government-sponsored enterprise securities
 
120,501

 
—

 
120,501

 
—

U.S. government securities
 
19,828

 
19,828

 
—

 
—

Other securities
 
3,392

 
—

 
3,392

 
—

Total securities available for sale
 
$
1,001,665

 
$
19,828

 
$
981,837

 
$
—

Other assets (Interest rate contracts)
 
$
14,921

 
$
—

 
$
14,921

 
$
—

Liabilities
 
 
 
 
 
 
 
 
Other liabilities (Interest rate contracts)
 
$
14,921

 
$
—

 
$
14,921

 
$
—


There were no transfers between Level 1 and Level 2 of the valuation hierarchy during the years ended December 31, 2013 and 2012. The Company recognizes transfers between levels of the valuation hierarchy based on the valuation level at the end of the reporting period.
Nonrecurring Measurements
Certain assets and liabilities are measured at fair value on a nonrecurring basis after initial recognition such as loans measured for impairment and OREO. The following methods were used to estimate the fair value of each such class of financial instrument:
Impaired loans—A loan is considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due (both interest and principal) according to the contractual terms of the loan agreement. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, a loan’s observable market price, or the fair market value of the collateral less estimated costs to sell if the loan is a collateral-dependent loan. Generally, the Company utilizes the fair market value of the collateral to measure impairment. The impairment evaluations are performed in conjunction with the ALLL process on a quarterly basis by officers in the Special Credits group, which reports to the Chief Credit Officer. The Real Estate Appraisal Services Department ("REASD"), which also reports to the Chief Credit Officer, is responsible for obtaining appraisals from third-parties or performing internal evaluations. If an appraisal is obtained from a third-party, the REASD reviews the appraisal to evaluate the adequacy of the appraisal report, including its scope, methods, accuracy, and reasonableness.
Other real estate owned and other personal property owned ("OPPO")—OREO and OPPO is real and personal property that the Bank has taken ownership of in partial or full satisfaction of a loan or loans. OREO and OPPO are generally measured based on the item's fair market value as indicated by an appraisal or a letter of intent to purchase. OREO and OPPO are recorded at the lower of the carrying amount or fair value less estimated costs to sell. This amount becomes the property’s new basis. Any write-downs based on the property fair value less estimated costs to sell at the date of acquisition are charged to the allowance for loan and lease losses. Management periodically reviews OREO and OPPO in an effort to ensure the property is carried at the lower of its new basis or fair value, net of estimated costs to sell. Any write-downs subsequent to acquisition are charged to earnings. The initial and subsequent write-down evaluations are performed by officers in the Special Credits group, which reports to the Chief Credit Officer. The REASD obtains appraisals from third-parties for OREO and OPPO and performs internal evaluations. If an appraisal is obtained from a third-party, the REASD reviews the appraisal to evaluate the adequacy of the appraisal report, including its scope, methods, accuracy, and reasonableness.
The following table sets forth the Company’s assets that were measured using fair value estimates on a nonrecurring basis at December 31, 2013 and 2012:
 
 
Fair value  at
December 31, 2013
 
Fair Value Measurements at Reporting Date Using
 
Losses During the Year Ended
December 31, 2013
 
 
Level 1
 
Level 2
 
Level 3
 
 
 
(in thousands)
Impaired loans
 
$
8,973

 
$
—

 
$
—

 
$
8,973

 
$
1,536

Noncovered OREO
 
5,080

 
—

 
—

 
5,080

 
994

Covered OREO
 
613

 
—

 
—

 
613

 
236

 
 
$
14,666

 
$
—

 
$
—

 
$
14,666

 
$
2,766

 
 
Fair value  at
December 31, 2012
 
Fair Value Measurements at Reporting Date Using
 
Losses During the Year Ended
December 31, 2012
 
 
Level 1
 
Level 2
 
Level 3
 
 
 
(in thousands)
Impaired loans
 
$
10,599

 
$
—

 
$
—

 
$
10,599

 
$
3,891

Noncovered OREO
 
10,970

 
—

 
—

 
10,970

 
3,788

Covered OREO
 
2,663

 
—

 
—

 
2,663

 
1,032

Noncovered OPPO
 
210

 
—

 
—

 
210

 
39

 
 
$
24,442

 
$
—

 
$
—

 
$
24,442

 
$
8,750


The losses on impaired loans disclosed above represent the amount of the specific reserve and/or charge-offs during the period applicable to loans held at period end. The amount of the specific reserve is included in the allowance for loan and lease losses. The losses on noncovered OREO disclosed above represent the write-downs taken at foreclosure that were charged to the allowance for loan and lease losses, as well as subsequent write-downs from updated appraisals that were charged to earnings.
Quantitative information about Level 3 fair value measurements
The range and weighted-average of the significant unobservable inputs used to fair value our Level 3 nonrecurring assets during 2013 and 2012, along with the valuation techniques used, are shown in the following tables:
 
 
Fair value  at
December 31, 2013
 
Valuation Technique
 
Unobservable Input
 
Range (Weighted Average) (1)
 
 
(dollars in thousands)
Impaired loans
 
$
8,973

 
Fair Market Value of Collateral
 
Adjustment to Appraisal Value
 
N/A (2)
Noncovered OREO
 
5,080

 
Fair Market Value of Collateral
 
Adjustment to Appraisal Value
 
N/A (2)
Covered OREO
 
613

 
Fair Market Value of Collateral
 
Adjustment to Appraisal Value
 
N/A (2)
(1) Discount applied to appraisal value, letter of intent to purchase, or stated value (in the case of accounts receivable and inventory).
(2) Quantitative disclosures are not provided for impaired loans, noncovered OREO and covered OREO because there were no adjustments made to the appraisal value during the current period.

 
 
Fair value  at
December 31, 2012
 
Valuation Technique
 
Unobservable Input
 
Range (Weighted Average) (1)
 
 
(dollars in thousands)
Impaired loans
 
$
10,599

 
Fair Market Value of Collateral
 
Adjustment to Appraisal Value
 
N/A (2)
Noncovered OREO
 
10,970

 
Fair Market Value of Collateral
 
Adjustment to Appraisal Value
 
N/A (2)
Covered OREO
 
2,663

 
Fair Market Value of Collateral
 
Adjustment to Appraisal Value
 
N/A (2)
Noncovered OPPO
 
210

 
Fair Market Value of Collateral
 
Adjustment to Appraisal Value
 
N/A (2)
(1) Discount applied to appraisal value, letter of intent to purchase, or stated value (in the case of accounts receivable and inventory).
(2) Quantitative disclosures are not provided for impaired loans, noncovered OREO, covered OREO and noncovered OPPO because there were no adjustments made to the appraisal value during the current period.

Fair value of financial instruments
Because broadly traded markets do not exist for most of the Company’s financial instruments, the fair value calculations attempt to incorporate the effect of current market conditions at a specific time. These determinations are subjective in nature, involve uncertainties and matters of significant judgment and do not include tax ramifications; therefore, the results cannot be determined with precision, substantiated by comparison to independent markets and may not be realized in an actual sale or immediate settlement of the instruments. There may be inherent weaknesses in any calculation technique, and changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the results. For all of these reasons, the aggregation of the fair value calculations presented herein do not represent, and should not be construed to represent, the underlying value of the Company.
The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value:
Cash and due from banks and interest-earning deposits with banks—The fair value of financial instruments that are short-term or reprice frequently and that have little or no risk are considered to have a fair value that approximates carrying value (Level 1).
Securities available for sale—Securities at fair value, other than U.S. Treasury Notes, are priced using a combination of market activity, industry recognized information sources, yield curves, discounted cash flow models and other factors (Level 2). U.S. Treasury Notes are priced using quotes in active markets (Level 1).
Federal Home Loan Bank stock—The fair value is based upon the par value of the stock which equates to its carrying value (Level 2).
Loans—Loans are not recorded at fair value on a recurring basis. Nonrecurring fair value adjustments are periodically recorded on impaired loans that are measured for impairment based on the fair value of collateral. For most performing loans, fair value is estimated using expected duration and lending rates that would have been offered on December 31, 2013 or 2012 for loans which mirror the attributes of the loans with similar rate structures and average maturities. The fair values resulting from these calculations are reduced by an amount representing the change in estimated fair value attributable to changes in borrowers’ credit quality since the loans were originated. For nonperforming loans, fair value is estimated by applying a valuation discount based upon loan sales data from the FDIC. For covered loans, fair value is estimated by discounting the expected future cash flows using a lending rate that would have been offered on December 31, 2013 (Level 3).
FDIC loss-sharing asset —The fair value of the FDIC loss-sharing asset is estimated based on discounting the expected future cash flows using an estimated market rate (Level 3).
Interest rate contracts—Interest rate contracts are valued in models, which use as their basis, readily observable market parameters (Level 2).
Deposits—For deposits with no contractual maturity, the fair value is equal to the carrying value (Level 1). The fair value of fixed maturity deposits is based on discounted cash flows using the difference between the deposit rate and current market rates for deposits of similar remaining maturities (Level 2).
FHLB advances—The fair value of FHLB advances is estimated based on discounting the future cash flows using the market rate currently offered (Level 2).

Repurchase agreements—The fair value of securities sold under agreement to repurchase is estimated based on discounting the future cash flows using the market rate currently offered (Level 2).
Other Financial Instruments—The majority of our commitments to extend credit and standby letters of credit carry current market interest rates if converted to loans, as such, carrying value is assumed to equal fair value.
The following tables summarize carrying amounts and estimated fair values of selected financial instruments for the periods indicated:
 
 
 
December 31,
2013
 
 
Carrying
Amount
 
Fair
Value
 
Level 1
 
Level 2
 
Level 3
 
 
(in thousands)
Assets
 
 
 
 
 
 
 
 
 
 
Cash and due from banks
 
$
165,030

 
$
165,030

 
$
165,030

 
$
—

 
$
—

Interest-earning deposits with banks
 
14,531

 
14,531

 
14,531

 
—

 
—

Securities available for sale
 
1,664,111

 
1,664,111

 
20,114

 
1,643,997

 
—

FHLB stock
 
32,529

 
32,529

 
—

 
32,529

 
—

Loans held for sale
 
735

 
735

 
—

 
735

 
—

Loans
 
4,444,842

 
4,605,038

 
—

 
—

 
4,605,038

FDIC loss-sharing asset
 
39,846

 
11,248

 
—

 
—

 
11,248

Interest rate contracts
 
9,044

 
9,044

 
—

 
9,044

 
—

Liabilities
 
 
 
 
 
 
 
 
 
 
Deposits
 
$
5,959,475

 
$
5,958,747

 
$
5,449,546

 
$
509,201

 
$
—

FHLB advances
 
36,606

 
35,080

 
—

 
35,080

 
—

Repurchase agreements
 
25,000

 
26,361

 
—

 
26,361

 
—

Interest rate contracts
 
9,044

 
9,044

 
—

 
9,044

 
—


 
 
December 31,
2012
 
 
Carrying
Amount
 
Fair
Value
 
Level 1
 
Level 2
 
Level 3
 
 
(in thousands)
Assets
 
 
 
 
 
 
 
 
 
 
Cash and due from banks
 
$
124,573

 
$
124,573

 
$
124,573

 
$
—

 
$
—

Interest-earning deposits with banks
 
389,353

 
389,353

 
389,353

 
—

 
—

Securities available for sale
 
1,001,665

 
1,001,665

 
19,828

 
981,837

 
—

FHLB stock
 
21,819

 
21,819

 
—

 
21,819

 
—

Loans held for sale
 
2,563

 
2,563

 
—

 
2,563

 
—

Loans
 
2,864,803

 
2,944,317

 
—

 
—

 
2,944,317

FDIC loss-sharing asset
 
96,354

 
26,543

 
—

 
—

 
26,543

Interest rate contracts
 
14,921

 
14,921

 
—

 
14,921

 
—

Liabilities
 
 
 
 
 
 
 
 
 
 
Deposits
 
$
4,042,085

 
$
4,043,221

 
$
3,549,821

 
$
493,400

 
$
—

FHLB advances
 
6,644

 
5,894

 
—

 
5,894

 
—

Repurchase agreements
 
25,000

 
26,464

 
—

 
26,464

 
—

Interest rate contracts
 
14,921

 
14,921

 
—

 
14,921

 
—

Earnings Per Common Share
Earnings Per Common Share
Earnings per Common Share
The Company applies the two-class method of computing basic and diluted EPS. Under the two-class method, EPS is determined for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. The Company issues restricted shares under share-based compensation plans and preferred shares which qualify as participating securities.
The following table sets forth the computation of basic and diluted earnings per share for the periods indicated:
 
 
Year Ended December 31,
 
 
2013
 
2012
 
2011
 
 
(in thousands except per share)
Basic EPS:
 
 
 
 
 
 
Net income
 
$
60,016

 
$
46,143

 
$
48,037

Less: Earnings allocated to participating securities
 
 
 
 
 
 
Preferred shares
 
95

 
—

 
—

Nonvested restricted shares
 
523

 
443

 
450

Earnings allocated to common shareholders
 
$
59,398

 
$
45,700

 
$
47,587

Weighted average common shares outstanding
 
47,993

 
39,260

 
39,103

Basic earnings per common share
 
$
1.24

 
$
1.16

 
$
1.22

Diluted EPS:
 
 
 
 
 
 
Earnings allocated to common shareholders (1)
 
$
59,407

 
$
45,700

 
$
47,588

Weighted average common shares outstanding
 
47,993

 
39,260

 
39,103

Dilutive effect of equity awards and warrants
 
1,058

 
3

 
77

Weighted average diluted common shares outstanding
 
49,051

 
39,263

 
39,180

Diluted earnings per common share
 
$
1.21

 
$
1.16

 
$
1.21

Potentially dilutive share options that were not included in the computation of diluted EPS because to do so would be anti-dilutive
 
64

 
9

 
53

Share-Based Payments
Share-Based Payments
Share-Based Payments
At December 31, 2013, the Company had one equity compensation plan (the “Plan”), which is shareholder approved, that provides for the granting of share options and shares to eligible employees and directors up to 3,113,592 shares.
Share Awards: Restricted share awards provide for the immediate issuance of shares of Company common stock to the recipient, with such shares held in escrow until certain service conditions are met, generally four years of continual service. Recipients of restricted shares do not pay any cash consideration to the Company for the shares, have the right to vote all shares subject to such grant, and receive all dividends with respect to such shares, whether or not the shares have vested. The fair value of share awards is equal to the fair market value of the Company’s common stock on the date of grant.
A summary of changes in the Company’s nonvested shares and related information for the years ended December 31, 2013, 2012 and 2011 is presented below:
 
Nonvested Shares
 
Shares
 
Weighted
Average
Grant-Date
Fair Value
Nonvested at January 1, 2011
 
353,283

 
$
21.14

Granted
 
133,350

 
$
19.45

Vested
 
(109,033
)
 
$
25.72

Forfeited
 
(14,925
)
 
$
18.86

Nonvested at December 31, 2011
 
362,675

 
$
19.24

Granted
 
180,841

 
$
21.32

Vested
 
(118,511
)
 
$
21.65

Forfeited
 
(40,915
)
 
$
18.60

Nonvested at December 31, 2012
 
384,090

 
$
19.54

Granted
 
203,441

 
$
20.78

Vested
 
(117,153
)
 
$
16.90

Forfeited
 
(59,780
)
 
$
20.24

Nonvested at December 31, 2013
 
410,598

 
$
20.79


As of December 31, 2013, there was $6.4 million of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the Plan. That cost is expected to be recognized over a weighted average period of 2.3 years. The total fair value, as measured on the date of vesting, of shares vested during the years ended December 31, 2013, 2012, and 2011 was $2.5 million, $2.5 million, and $2.2 million, respectively.
Share Options: Option awards are generally granted with an exercise price equal to the market price of the Company’s stock at the date of grant; those option awards generally vest based on three years of continual service and are exercisable for a five-year period after vesting. Option awards granted have a 10-year maximum term.
The fair value of each option award is estimated on the date of grant using the Black-Scholes option valuation model. The fair value of all options is amortized on a straight-line basis over the requisite service periods, which are generally the vesting periods. The expected life of options granted represents the period of time that they are expected to be outstanding. The expected life is determined based on historical experience with similar awards, giving consideration to the contractual terms and vesting schedules. Expected volatilities of our common stock are estimated at the date of grant based on the historical volatility of the stock. The volatility factor is based on historical stock prices over the most recent period commensurate with the estimated expected life of the award. The risk-free interest rate is based on the U.S. Treasury curve in effect at the time of the award. The expected dividend yield is based on dividend trends and the market value of the Company’s stock price at the time of the award.

A summary of option activity under the Plan as of December 31, 2013, and changes during the year then ended is presented below. The options granted during 2013 relate to the acquisition of West Coast.
 
Options
 
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
 
Aggregate
Intrinsic
Value
($000)
Balance at December 31, 2012
 
25,952

 
$
20.13

 
 
 
 
Granted
 
222,110

 
$
64.11

 
 
 
 
Forfeited
 
(83,284
)
 
$
69.27

 
 
 
 
Expired
 
(12,544
)
 
$
81.78

 
 
 
 
Exercised
 
(36,037
)
 
$
11.46

 
 
 
 
Balance at December 31, 2013
 
116,197

 
$
65.01

 
2.8
 
$
550

Total Exercisable at December 31, 2013
 
116,197

 
$
65.01

 
2.8
 
$
550


The total intrinsic value of options exercised during the years ended December 31, 2013, 2012, and 2011 was $410 thousand, $5 thousand, and $65 thousand, respectively. No options were granted in 2012 or 2011.
As of December 31, 2013, outstanding stock options consist of the following:
 
Ranges of
Exercise Prices
 
Number of
Option
Shares
 
Weighted Average
Remaining
Contractual Life
 
Weighted Average
Exercise Price of
Option Shares
 
Number of
Exercisable
Option Shares
 
Weighted Average
Exercise Price of
Exercisable Option
Shares
$0.00 - $9.99
 
29,602

 
5.0
 
$
9.91

 
29,602

 
$
9.91

$10.00 - $19.99
 
2,879

 
1.0
 
$
17.36

 
2,879

 
$
17.36

$30.00 - $39.99
 
4,051

 
3.1
 
$
30.86

 
4,051

 
$
30.86

$40.00 - $49.99
 
349

 
4.5
 
$
44.49

 
349

 
$
44.49

$50.00 - $146.41
 
79,316

 
2.0
 
$
89.14

 
79,316

 
$
89.14

$0.00 - $146.41
 
116,197

 
2.8
 
$
65.01

 
116,197

 
$
65.01


It is the Company’s policy to issue new shares for share option exercises and share awards. The Company expenses awards of share options and shares on a straight-line basis over the related vesting term of the award. For the 12 months ended December 31, 2013, 2012 and 2011, the Company recognized pre-tax share-based compensation expense of $2.8 million, $1.6 million and $1.6 million, respectively.
Income Tax
Income Tax
Income Tax
The components of income tax expense (benefit) are as follows:
 
 
Years Ended December 31,
 
 
2013
 
2012
 
2011
 
 
(in thousands)
Current tax expense
 
$
21,581

 
$
21,218

 
$
21,688

Deferred tax expense (benefit)
 
5,413

 
(3,656
)
 
(3,783
)
Total
 
$
26,994

 
$
17,562

 
$
17,905


Significant components of the Company’s deferred tax assets and liabilities are as follows:
 
 
 
December 31,
 
 
2013
 
2012
 
 
(in thousands)
Deferred tax assets:
 
 
 
 
Allowance for loan and lease losses
 
$
27,196

 
$
30,027

Supplemental executive retirement plan
 
8,565

 
6,967

Stock option and restricted stock
 
917

 
682

OREO costs
 
7,929

 
3,801

Nonaccrual interest
 
2,354

 
193

Purchase accounting
 
15,551

 
—

Unrealized loss on investment securities
 
7,176

 
—

Other
 
1,741

 
557

Total deferred tax assets
 
71,429

 
42,227

Deferred tax liabilities:
 
 
 
 
Asset purchase tax basis difference
 
(7,754
)
 
(19,408
)
FHLB stock dividends
 
(4,159
)
 
(1,963
)
Purchase accounting
 
—

 
(745
)
Deferred loan fees
 
(4,512
)
 
(1,755
)
Unrealized gain on investment securities
 
—

 
(11,150
)
Depreciation
 
(7,076
)
 
(1,870
)
Total deferred tax liabilities
 
(23,501
)
 
(36,891
)
Net deferred tax asset
 
$
47,928

 
$
5,336


A reconciliation of the Company’s effective income tax rate with the federal statutory tax rate is as follows:
 
 
Years Ended December 31,
 
 
2013
 
2012
 
2011
 
 
Amount
 
Percent
 
Amount
 
Percent
 
Amount
 
Percent
 
 
(dollars in thousands)
Income tax based on statutory rate
 
$
30,454

 
35
 %
 
$
22,297

 
35
 %
 
$
23,080

 
35
 %
Reduction resulting from:
 
 
 
 
 
 
 
 
 
 
 
 
Tax credits
 
(1,038
)
 
(1
)%
 
(504
)
 
(1
)%
 
(608
)
 
(1
)%
Tax exempt instruments
 
(4,113
)
 
(5
)%
 
(3,906
)
 
(6
)%
 
(3,824
)
 
(6
)%
Life insurance proceeds
 
(1,250
)
 
(1
)%
 
(1,001
)
 
(2
)%
 
(766
)
 
(1
)%
Bargain purchase
 
—

 
—
 %
 
—

 
—
 %
 
(1,036
)
 
(2
)%
Acquisition costs
 
1,362

 
2
 %
 
—

 
—
 %
 
—

 
—
 %
Other, net
 
1,579

 
1
 %
 
676

 
1
 %
 
1,059

 
2
 %
Income tax provision
 
$
26,994

 
31
 %
 
$
17,562

 
27
 %
 
$
17,905

 
27
 %

As of December 31, 2013 and 2012, we had no unrecognized tax benefits. Our policy is to recognize interest and penalties on unrecognized tax benefits in “Provision for income taxes” in the Consolidated Statements of Income. There were no amounts related to interest and penalties recognized for the years ended December 31, 2013 and 2012. The tax years subject to examination by federal and state taxing authorities are the years ending December 31, 2013, 2012, 2011 and 2010.
Regulatory Capital Requirements
Regulatory Capital Requirements
Regulatory Capital Requirements
The Company (on a consolidated basis) and its banking subsidiary are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company and its banking subsidiary's financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and its banking subsidiary must meet specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Prompt corrective action provisions are not applicable to bank holding companies.
Quantitative measures established by regulation to ensure capital adequacy require the Company and its banking subsidiary to maintain minimum amounts and ratios (set forth in the following table) of total and Tier 1 capital to risk-weighted assets (as defined in the regulations) and of Tier 1 capital to average assets (as defined in the regulations). Management believes, as of December 31, 2013 and 2012, that the Company and Columbia Bank met all capital adequacy requirements to which they are subject.
As of December 31, 2013, the most recent notification from the Federal Deposit Insurance Corporation categorized Columbia Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, an institution must maintain minimum total risk-based, Tier 1 risk-based, and Tier 1 leverage ratios as set forth in the following tables. There are no conditions or events since the notification that management believes have changed Columbia Bank’s category. The Company and its banking subsidiary’s actual capital amounts and ratios as of December 31, 2013 and 2012, are also presented in the following table.

 
 
Actual
 
For Capital
Adequacy
Purposes
 
To Be Well
Capitalized Under
Prompt
Corrective Action
Provision
Amount
 
Ratio
 
Amount
 
Ratio
 
Amount
 
Ratio
 
 
(dollars in thousands)
As of December 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
Total Capital (to risk-weighted assets):
 
 
 
 
 
 
 
 
 
 
 
 
The Company
 
$
760,349

 
14.68
%
 
$
414,300

 
8.0
%
 
N/A

 
N/A

Columbia Bank
 
$
700,099

 
13.52
%
 
$
414,238

 
8.0
%
 
$
517,797

 
10.0
%
Tier 1 Capital (to risk-weighted assets):
 
 
 
 
 
 
 
 
 
 
 
 
The Company
 
$
695,489

 
13.43
%
 
$
207,150

 
4.0
%
 
N/A

 
N/A

Columbia Bank
 
$
635,248

 
12.27
%
 
$
207,119

 
4.0
%
 
$
310,678

 
6.0
%
Tier 1 Capital (to average assets):
 
 
 
 
 
 
 
 
 
 
 
 
The Company
 
$
695,489

 
10.19
%
 
$
272,891

 
4.0
%
 
N/A

 
N/A

Columbia Bank
 
$
635,248

 
9.29
%
 
$
273,560

 
4.0
%
 
$
341,950

 
5.0
%
As of December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
Total Capital (to risk-weighted assets):
 
 
 
 
 
 
 
 
 
 
 
 
The Company
 
$
652,704

 
20.62
%
 
$
253,242

 
8.0
%
 
N/A

 
N/A

Columbia Bank
 
$
565,677

 
17.87
%
 
$
253,244

 
8.0
%
 
$
316,556

 
10.0
%
Tier 1 Capital (to risk-weighted assets):
 
 
 
 
 
 
 
 
 
 
 
 
The Company
 
$
612,584

 
19.35
%
 
$
126,621

 
4.0
%
 
N/A

 
N/A

Columbia Bank
 
$
525,556

 
16.60
%
 
$
126,622

 
4.0
%
 
$
189,933

 
6.0
%
Tier 1 Capital (to average assets):
 
 
 
 
 
 
 
 
 
 
 
 
The Company
 
$
612,584

 
12.78
%
 
$
191,778

 
4.0
%
 
N/A

 
N/A

Columbia Bank
 
$
525,556

 
11.07
%
 
$
189,986

 
4.0
%
 
$
237,483

 
5.0
%
Parent Company Financial Information
Parent Company Financial Information
Parent Company Financial Information
Condensed Statements of Income—Parent Company Only
 
 
Years Ended December 31,
2013
 
2012
 
2011
(in thousands)
Income
 
 
 
 
 
 
Dividend from banking subsidiary
 
$
183,000

 
$
48,950

 
$
—

Interest-earning deposits
 
68

 
153

 
712

Other income
 
7

 
—

 
17

Total income
 
183,075

 
49,103

 
729

Expense
 
 
 
 
 
 
Compensation and employee benefits
 
658

 
182

 
88

Long-term obligations
 
—

 
—

 
579

Other borrowings
 
258

 
—

 
—

Other expense
 
4,162

 
1,193

 
1,114

Total expenses
 
5,078

 
1,375

 
1,781

Income (loss) before income tax expense (benefit) and equity in undistributed net income of subsidiaries
 
177,997

 
47,728

 
(1,052
)
Income tax expense (benefit)
 
(1,552
)
 
(435
)
 
91

Income (loss) before equity in undistributed net income of subsidiaries
 
179,549

 
48,163

 
(1,143
)
Equity in undistributed net income (loss) of subsidiaries
 
(119,533
)
 
(2,020
)
 
49,180

Net income
 
$
60,016

 
$
46,143

 
$
48,037


Condensed Balance Sheets—Parent Company Only
 
 
December 31,
2013
 
2012
 
 
(in thousands)
Assets
 
 
 
 
Cash and due from banking subsidiary
 
$
3,006

 
$
1,729

Interest-earning deposits
 
50,678

 
84,915

Total cash and cash equivalents
 
53,684

 
86,644

Investment in banking subsidiary
 
993,002

 
676,974

Investment in other subsidiaries
 
5,037

 
—

Other assets
 
1,952

 
649

Total assets
 
$
1,053,675

 
$
764,267

Liabilities and Shareholders’ Equity
 
 
 
 
Other liabilities
 
$
426

 
$
259

Total liabilities
 
426

 
259

Shareholders’ equity
 
1,053,249

 
764,008

Total liabilities and shareholders’ equity
 
$
1,053,675

 
$
764,267


Condensed Statements of Cash Flows—Parent Company Only
 
 
Years Ended December 31,
2013
 
2012
 
2011
(in thousands)
Operating Activities
 
 
 
 
 
 
Net income
 
$
60,016

 
$
46,143

 
$
48,037

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
 
 
 
Equity in undistributed loss (earnings) of subsidiaries
 
119,533

 
2,020

 
(49,180
)
Stock-based compensation expense
 
2,844

 
1,622

 
1,635

Net changes in other assets and liabilities
 
6,830

 
(264
)
 
315

Net cash provided by operating activities
 
189,223

 
49,521

 
807

Investing Activities
 
 
 
 
 
 
Net cash paid in business combinations
 
(53,159
)
 
—

 
—

Proceeds from termination of trust subsidiaries
 
—

 
—

 
774

Net cash provided by (used in) investing activities
 
(53,159
)
 
—

 
774

Financing Activities
 
 
 
 
 
 
Preferred stock dividends
 
(32
)
 
—

 
—

Common stock dividends
 
(19,858
)
 
(38,824
)
 
(10,660
)
Repayment of long-term subordinated debt
 
(51,000
)
 
—

 
(25,774
)
Purchase and retirement of common stock
 
(429
)
 
—

 
(32
)
Proceeds from exercise of stock options
 
1,092

 
713

 
848

Downstream stock offering proceeds to the Bank
 
(100,000
)
 
—

 
(50,000
)
Excess tax benefit associated with share-based compensation
 
1,203

 
—

 
98

Net cash used in financing activities
 
(169,024
)
 
(38,111
)
 
(85,520
)
Increase (decrease) in cash and cash equivalents
 
(32,960
)
 
11,410

 
(83,939
)
Cash and cash equivalents at beginning of year
 
86,644

 
75,234

 
159,173

Cash and cash equivalents at end of year
 
$
53,684

 
$
86,644

 
$
75,234

Summary Of Quarterly Financial Information (Unaudited)
Summary of Quarterly Financial Information (Unaudited)
Summary of Quarterly Financial Information (Unaudited)
Quarterly financial information for the years ended December 31, 2013 and 2012 is summarized as follows:
 
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
Year Ended
December 31,
 
 
(in thousands, except per share amounts)
2013
 
 
 
 
 
 
 
 
 
 
Total interest income
 
$
54,761

 
$
82,268

 
$
81,599

 
$
78,307

 
$
296,935

Total interest expense
 
1,279

 
2,279

 
1,184

 
1,098

 
5,840

Net interest income
 
53,482

 
79,989

 
80,415

 
77,209

 
291,095

Provision (recapture) for loan and lease losses
 
(1,000
)
 
2,000

 
4,260

 
(2,100
)
 
3,160

Provision (recapture) for losses on covered loans
 
980

 
(1,712
)
 
(947
)
 
(1,582
)
 
(3,261
)
Noninterest income
 
1,658

 
6,808

 
7,622

 
10,612

 
26,700

Noninterest expense
 
38,049

 
64,504

 
64,714

 
63,619

 
230,886

Income before income taxes
 
17,111

 
22,005

 
20,010

 
27,884

 
87,010

Provision for income taxes
 
4,935

 
7,414

 
6,734

 
7,911

 
26,994

Net income
 
$
12,176

 
$
14,591

 
$
13,276

 
$
19,973

 
$
60,016

Per common share (1)
 
 
 
 
 
 
 
 
 
 
Earnings (basic)
 
$
0.31

 
$
0.28

 
$
0.26

 
$
0.39

 
$
1.24

Earnings (diluted)
 
$
0.31

 
$
0.28

 
$
0.25

 
$
0.38

 
$
1.21

2012
 
 
 
 
 
 
 
 
 
 
Total interest income
 
$
69,712

 
$
62,114

 
$
59,469

 
$
57,209

 
$
248,504

Total interest expense
 
2,649

 
2,413

 
2,204

 
2,311

 
9,577

Net interest income
 
67,063

 
59,701

 
57,265

 
54,898

 
238,927

Provision for loan and lease losses
 
4,500

 
3,750

 
2,875

 
2,350

 
13,475

Provision (recapture) for losses on covered loans
 
15,685

 
11,688

 
(3,992
)
 
2,511

 
25,892

Noninterest income (loss)
 
9,574

 
11,828

 
(911
)
 
6,567

 
27,058

Noninterest expense
 
44,352

 
39,825

 
40,936

 
37,800

 
162,913

Income before income taxes
 
12,100

 
16,266

 
16,535

 
18,804

 
63,705

Provision for income taxes
 
3,198

 
4,367

 
4,655

 
5,342

 
17,562

Net income
 
$
8,902

 
$
11,899

 
$
11,880

 
$
13,462

 
$
46,143

Per common share (1)
 
 
 
 
 
 
 
 
 
 
Earnings (basic)
 
$
0.22

 
$
0.30

 
$
0.30

 
$
0.34

 
$
1.16

Earnings (diluted)
 
$
0.22

 
$
0.30

 
$
0.30

 
$
0.34

 
$
1.16

 __________
(1) Due to averaging of shares, quarterly earnings per share may not add up to the totals reported for the full year.
Summary of Significant Accounting Policies (Policies)
Cash and cash equivalents 
Cash and cash equivalents
Cash and cash equivalents include cash and due from banks, and interest bearing balances due from correspondent banks and the Federal Reserve Bank. Cash and cash equivalents have a maturity of 90 days or less at the time of purchase.
Securities 
Securities
Securities are classified based on management’s intention on the date of purchase. All securities are classified as available for sale and are presented at fair value. Unrealized gains or losses on securities available for sale are excluded from net income but are included as separate components of other comprehensive income, net of taxes. Purchase premiums or discounts on securities available for sale are amortized or accreted into income using the interest method over the terms of the individual securities. The Company performs a quarterly assessment to determine whether a decline in fair value below amortized cost is other-than-temporary. Amortized cost includes adjustments made to the cost of an investment for accretion, amortization, collection of cash and previous other-than temporary impairment recognized in earnings. Other-than-temporary impairment exists when it is probable that the Company will be unable to recover the entire amortized cost basis of the security.
In performing the quarterly assessment for debt securities, management considers whether or not the Company expects to recover the entire amortized cost basis of the security. In addition, management also considers whether it is more likely than not that it will not have to sell the security before recovery of its cost basis. If the Company intends to sell a security or it is more likely than not it will be required to sell a security prior to recovery of its cost basis, the entire amount of impairment is recognized in earnings. If the Company does not intend to sell the security or it is not more likely than not it will be required to sell the security prior to recovery of its cost basis, the credit loss component of impairment is recognized in earnings and impairment associated with non-credit factors, such as market liquidity, is recognized in other comprehensive income net of tax. A credit loss is the difference between the cost basis of the security and the present value of cash flows expected to be collected, discounted at the security's effective interest rate at the date of acquisition. The cost basis of an other-than-temporarily impaired security is written down by the amount of impairment recognized in earnings. The new cost basis is not adjusted for subsequent recoveries in fair value. However, the difference between the new amortized cost basis and the cash flows expected to be collected is accreted as interest income. The total other-than-temporary impairment is presented in the consolidated statements of income with a reduction for the amount of other-than-temporary impairment that is recognized in other comprehensive income, if any.
Realized gains or losses on sales of securities available for sale are recorded using the specific identification method.
Federal Home Loan Bank Stock 
Federal Home Loan Bank Stock
The Company’s investment in Federal Home Loan Bank (“FHLB”) stock is carried at par value because the shares can only be redeemed with the FHLB at par. The Company is required to maintain a minimum level of investment in FHLB stock based on specific percentages of its outstanding mortgages and FHLB advances. Stock redemptions are at the discretion of the FHLB or of the Company, upon five years’ prior notice for FHLB Class B stock or six months notice for FHLB Class A stock to the FHLB. FHLB stock is carried at cost and is subject to recoverability testing per the Financial Services—Depository and Lending topic of the FASB Accounting Standards Codification (“ASC”).
Loans 
Loans
Loans are generally carried at the unpaid principal balance, net of premiums, unearned discounts and net deferred loan fees. Net deferred loan fees include deferred unamortized fees less direct incremental loan origination costs. Net deferred loan fees, premiums and unearned discounts on loans are recognized in interest income using either the interest method or straight-line method over the terms of the loans, adjusted for actual prepayments. Interest income is accrued as earned. Fees related to lending activities other than the origination or purchase of loans are recognized as noninterest income during the period the related services are performed.
Nonaccrual loans—Loans are placed on nonaccrual status when a loan becomes contractually past due 90 days with respect to interest or principal unless the loan is both well secured and in the process of collection, or if full collection of interest or principal becomes uncertain. When a loan is placed on nonaccrual status, any accrued and unpaid interest receivable is reversed and the recognition of net deferred loan fees, premiums and unearned discounts ceases. Thereafter, interest collected on the loan is accounted for on the cash collection or cost recovery method until qualifying for return to accrual status. Generally, a loan may be returned to accrual status when the delinquent principal and interest are brought current in accordance with the terms of the loan agreement for a minimum period of six months and future payments are reasonably assured.
Impaired loans—Loans are considered impaired when based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement or when a loan has been modified in a troubled debt restructuring. The assessment for impairment occurs when and while such loans are designated as classified per the Company’s internal risk rating system or when and while such loans are on nonaccrual. All nonaccrual loans greater than $500,000 are considered impaired and analyzed individually on a quarterly basis. Classified loans with an outstanding balance greater than $500,000 are evaluated for potential impairment on a quarterly basis.
When a loan with unique risk characteristics has been identified as being impaired, the amount of impairment will be measured by the Company using discounted cash flows, except when it is determined that the primary (remaining) source of repayment for the loan is the operation or liquidation of the underlying collateral. In these cases, the current fair value of the collateral, reduced by costs to sell, will be used in place of discounted cash flows. As a final alternative, the observable market price of the debt may be used to assess impairment. Predominantly, the Company uses the fair value of collateral approach based upon a reliable valuation.
When the measurement of the impaired loan is less than the recorded amount of the loan, an impairment is recognized by recording a charge-off to the allowance for loan and lease losses or by designating a specific reserve. The Company’s policy is to record cash receipts received on impaired loans first as reductions to principal and then to interest income.
Restructured Loans—A loan is classified as a troubled debt restructuring when a borrower is experiencing financial difficulties that lead to a restructuring of the loan, and the Company grants concessions to the borrower in the restructuring that it would not otherwise consider. These concessions may include interest rate reductions, principal forgiveness, extension of maturity date and other actions intended to minimize potential losses. Generally, a nonaccrual loan that is restructured remains on nonaccrual status for a period of six months to demonstrate that the borrower can meet the restructured terms. If the borrower's performance under the new terms is not reasonably assured, the loan remains classified as a nonaccrual loan.
Acquired Impaired Loans—Loans acquired with evidence of credit deterioration since origination for which it is probable that all contractually required payments will not be collected are accounted for under ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality, formerly SOP 03-3 Accounting for Certain Loans or Debt Securities Acquired in a Transfer. In addition, because of the significant discounts associated with certain of the acquired loan portfolios, the Company elected to account for those certain acquired loans under ASC 310-30.
In situations where such loans have similar risk characteristics, loans are aggregated into pools to estimate cash flows. A pool is accounted for as a single asset with a single interest rate, cumulative loss rate and cash flow expectation. Expected cash flows at the acquisition date in excess of the fair value of loans are considered to be accretable yield, which is recognized as interest income over the life of the loan pool using a level yield method if the timing and amount of the future cash flows of the pool is reasonably estimable. Subsequent to the acquisition date, any increases in cash flow over those expected at purchase date in excess of fair value are recorded as interest income prospectively. Any subsequent decreases in cash flow over those expected at purchase date due to credit deterioration are recognized by recording an allowance for losses on covered loans. Any disposals of loans, including sales of loans, payments in full or foreclosures result in the removal of the loan from the loan pool at the carrying amount.
Covered Loans—The term covered loans refers to acquired loans that are covered under a loss-sharing agreement with the FDIC. At December 31, 2013, approximately 96% of covered loans were subject to an FDIC loss-sharing agreements and approximately 90% were accounted for as acquired, impaired loans. See Acquired Impaired Loans for further discussion.
Unfunded loan commitments—Unfunded commitments are generally related to providing credit facilities to clients of the Bank and are not actively traded financial instruments. These unfunded commitments are disclosed as financial instruments with off-balance sheet risk in Note 16 in the Notes to Consolidated Financial Statements.
Allowance for Loan and Lease Losses 
Allowance for Loan and Lease Losses
The Company accounts for the credit risk associated with lending activities through its allowance for loan and lease losses and provision for loan and lease losses. The provision is the expense recognized in the consolidated statements of income to adjust the allowance to the levels deemed appropriate by management, as determined through application of the Company’s allowance methodology procedures. The provision for loan and lease losses reflects management’s judgment of the adequacy of the allowance for loan and lease losses. Loan and lease losses are charged against the allowance when management believes the collectability of a loan balance is unlikely. Subsequent recoveries, if any, are credited to the allowance.
The allowance for loan and lease losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, and estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available.
The allowance consists of general, specific, and unallocated components. The general component covers loans not specifically measured for impairment and is based on historical loss experience adjusted for qualitative factors. The specific component relates to loans that are impaired. For impaired loans an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The unallocated allowance provides for other credit losses inherent in the Company’s loan portfolio that may not have been contemplated in the general and specific components of the allowance. This unallocated amount generally comprises less than 5% of the allowance. The unallocated amount is reviewed periodically based on trends in credit losses, the results of credit reviews and overall economic trends.
Allowance for Unfunded Commitments and Letters of Credit 
Allowance for Unfunded Commitments and Letters of Credit
The allowance for unfunded commitments is maintained at a level believed by management to be sufficient to absorb estimated probable losses related to these unfunded credit facilities. The determination of the adequacy of the allowance is based on periodic evaluations of the unfunded credit facilities including an assessment of the probability of commitment usage, credit risk factors for loans outstanding to these same customers, and the terms and expiration dates of the unfunded credit facilities. The allowance for unfunded commitments is included in other liabilities on the consolidated balance sheets, with changes to the balance charged against noninterest expense.
Premises and Equipment 
Premises and Equipment
Land, buildings, leasehold improvements and equipment are stated at cost less accumulated depreciation and amortization. Gains or losses on dispositions are reflected in current operations. Expenditures for improvements and major renewals are capitalized, and ordinary maintenance, repairs and small purchases are charged to operating expenses. Depreciation and amortization are computed based on the straight-line method over the estimated useful lives of the various classes of assets. The ranges of useful lives for the principal classes of assets are as follows:
Buildings and building improvements
5 to 39 years
Leasehold improvements
Term of lease or useful life, whichever is shorter
Furniture, fixtures and equipment
3 to 7 years
Vehicles
5 years
Computer software
3 to 5 years
Software 
Software
Capitalized software is stated at cost, less accumulated amortization. Amortization is computed on a straight-line basis and charged to expense over the estimated useful life of the software which is generally three years. Capitalized software is included in Premises and equipment, net in the Consolidated Balance Sheets.
Other Real Estate Owned—Noncovered 
Other Real Estate Owned
Other real estate owned (“OREO”) is composed of real estate acquired in satisfaction of loans. Properties acquired by foreclosure or deed in lieu of foreclosure are transferred to OREO and are recorded at fair value less estimated costs to sell, at the date of transfer of the property. If the carrying value exceeds the fair value at the time of the transfer, the difference is charged to the allowance for loan and lease losses. The fair value of the OREO property is based upon current appraisal. Losses that result from the ongoing periodic valuation of these properties are charged to the net cost of operation of OREO in the period in which they are identified. Improvements to the OREO are capitalized and holding costs are charged to the net cost of operation of OREO as incurred.
Covered Assets and Related FDIC Loss Sharing Asset 
Covered OREO—Covered OREO includes acquired OREO that is covered under a loss-sharing agreement with the FDIC. These assets were recorded at their fair value on acquisition date. Covered OREO is reported in Other real estate owned in the Consolidated Balance Sheets. Covered OREO is reported exclusive of expected reimbursement cash flows from the FDIC. Upon transferring covered loan collateral to covered OREO status, valuation adjustments arising from acquisition accounting on the related loan are also transferred to covered OREO. Valuation adjustments arising from acquisition accounting on covered OREO result in a reduction of the covered OREO carrying amount and a corresponding increase in the expected FDIC reimbursement, with the estimated net loss to the Company, if any, charged against earnings.
FDIC Loss-sharing Asset
The acquisition date fair value of the reimbursement the Company expected to receive from the FDIC under loss-sharing agreements was recorded in the FDIC loss-sharing asset on the Consolidated Balance Sheet. Subsequent to initial recognition, the FDIC loss-sharing asset is reviewed quarterly and adjusted for any changes in expected cash flows. These adjustments are measured on the same basis as the related covered assets. Any decrease in expected cash flows for the covered assets due to an increase in expected credit losses will increase the FDIC loss-sharing asset and any increase in expected future cash flows for the covered assets due to a decrease in expected credit losses will decrease the FDIC loss-sharing asset. Changes in the estimated cash flows on covered assets that are immediately recognized in income generally result in a similar immediate adjustment to the loss-sharing asset while changes in expected cash flows on covered assets that are accounted for as an adjustment to yield generally result in adjustments to the amortization or accretion rate for the loss-sharing asset. Increases and decreases to the FDIC loss-sharing asset are recorded as adjustments to noninterest income.
Goodwill and Intangibles 
Goodwill and Intangibles
Net assets of companies acquired in purchase transactions are recorded at fair value at the date of acquisition. Identified intangibles are amortized on an accelerated basis over the period benefited. Goodwill is not amortized but is reviewed for potential impairment during the third quarter on an annual basis or, more frequently, if events or circumstances indicate a potential impairment, at the reporting unit level. A reporting unit is an operating segment or one level below an operating segment for which discrete financial information is available and regularly reviewed by management. The Company consists of a single reporting unit. If the fair value of the reporting unit, including goodwill, is determined to be less than the carrying amount of the reporting unit, a further test is required to measure the amount of impairment. If an impairment loss exists, the carrying amount of goodwill is adjusted to a new cost basis. Subsequent reversal of a previously recognized goodwill impairment loss is prohibited.
Intangible assets are evaluated for impairment if events and circumstances indicate a possible impairment. Such evaluation of other intangible assets is based on undiscounted cash flow projections. At December 31, 2013, intangible assets included on the consolidated balance sheets consist of a core deposit intangible amortized using an accelerated method with an original estimated life 10 years.
Income Taxes 
Income Taxes
The provision for income taxes includes current and deferred income tax expense on net income adjusted for permanent and temporary differences such as interest income on state and municipal securities and affordable housing credits. Deferred tax assets and liabilities are recognized for the expected future tax consequences of existing temporary differences between the financial reporting and tax reporting basis of assets and liabilities using enacted tax laws and rates. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. On a quarterly basis, management evaluates deferred tax assets to determine if these tax benefits are expected to be realized in future periods. This determination is based on facts and circumstances, including the Company’s current and future tax outlook. To the extent a deferred tax asset is no longer considered “more likely than not” to be realized, a valuation allowance is established.
Earnings per Common Share 
Earnings per Common Share
The Company's capital structure includes convertible preferred shares, common shares, restricted common shares, common share options, and warrants to purchase common shares. Restricted common shares participate in dividends declared on common shares at the same rate as common shares. Preferred shares participate in dividends declared on common shares on an "as if converted" basis. Accordingly, the Company calculates earnings per common share (“EPS”) using the two-class method under the Earnings per Share topic of the FASB ASC. The two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that otherwise would have been available to common shareholders but does not require the presentation of basic and diluted EPS for securities other than common shares.
Under the two-class method, basic EPS is computed by dividing earnings allocated to common shareholders by the weighted average number of common shares outstanding for the period. Earnings allocated to common shareholders represents net income reduced by earnings allocated to participating securities. Common shares outstanding include common stock and vested restricted stock awards. Diluted EPS is computed in the same manner as basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if certain shares issuable upon exercise of options and warrants were included unless those additional shares would have been anti-dilutive. For the diluted EPS computation, the treasury stock method is applied and compared to the two-class method and whichever method results in a more dilutive impact is utilized to calculate diluted EPS.
Advertising 
Advertising
Advertising costs are generally expensed as incurred.
Share-Based Payment 
Share-Based Payment
The Company accounts for stock options and stock awards in accordance with the Compensation—Stock Compensation topic of the FASB ASC. Authoritative guidance requires the Company to measure the cost of employee services received in exchange for an award of equity instruments, such as stock options or stock awards, based on the fair value of the award on the grant date. This cost must be recognized in the consolidated statements of income over the vesting period of the award.
The Company issues restricted stock awards which generally vest over a four- or five-year period during which time the holder receives dividends and has full voting rights. Restricted stock is valued at the closing price of the Company’s stock on the date of an award.
Derivatives and Hedging Activities 
Derivatives and Hedging Activities
In accordance with the Derivatives and Hedging topic of the FASB ASC, the Company recognizes derivatives as assets or liabilities on the consolidated balance sheets at their fair value. The treatment of changes in the fair value of derivatives depends on the character of the transaction.
The Company enters into derivative contracts to add stability to interest income and to manage its exposure to changes in interest rates. On the date the Company enters into a derivative contract, the derivative instrument is designated as: (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (a “fair value” hedge); (2) a hedge of the variability in expected future cash flows associated with an existing recognized asset or liability or a probable forecasted transaction (a “cash flow” hedge); or (3) held for other economic purposes (an “economic” hedge) and not formally designated as part of qualifying hedging relationships under authoritative guidance.
In a fair value hedge, changes in the fair value of the hedging derivative are recognized in earnings and offset by recognizing changes in the fair value of the hedged item attributable to the risk being hedged. To the extent that the hedge is ineffective, the changes in fair value will not offset and the difference is reflected in earnings.
In a cash flow hedge, the effective portion of the change in the fair value of the hedging derivative is recorded in accumulated other comprehensive income and is subsequently reclassified into earnings during the same period in which the hedged item affects earnings. The change in fair value of any ineffective portion of the hedging derivative is recognized immediately in earnings. When a cash flow hedge is discontinued, the net derivative gain or loss continues to be reported in accumulated other comprehensive income unless it is probable that the forecasted transactions will not occur by the end of the originally specified time period. The net derivative gain or loss from a discontinued cash flow hedge is reclassified into earnings during the originally specified time period in which the forecasted transactions were to occur.
The Company formally documents the relationship between the hedging instruments and hedged items, as well as its risk management objective and strategy before initiating a hedge. To qualify for hedge accounting, the derivatives and related hedged items must be designated as a hedge. For hedging relationships in which effectiveness is measured, the correlations between the hedging instruments and hedged items are assessed at inception of the hedge and on an ongoing basis, which includes determining whether the hedge relationship is expected to be highly effective in offsetting changes in fair value or cash flows of hedged items.
Derivatives used for other economic purposes are used as economic hedges in which the Company has not attempted to achieve the highly effective hedge accounting standard under authoritative guidance. The changes in fair value of these instruments are recognized immediately in earnings.
Allowance for Loan and Lease Losses 
Allowance for Loan Losses on Covered Loans
The Company updates its cash flow projections for covered loans accounted for under ASC 310-30 on a quarterly basis. Assumptions utilized in this process include projections related to probability of default, loss severity, prepayment and recovery lag. Projections related to probability of default and prepayment are calculated utilizing a loan migration analysis. The loan migration analysis is a matrix of probability that is used to estimate the probability of a loan pool transitioning into a particular delinquency state given its delinquency state at the remeasurement date. Loss severity factors are based upon either actual charge-off data within the loan pools or industry averages and recovery lags are based upon the collateral within the loan pools.
Any decreases in expected cash flows after the acquisition date and subsequent measurement periods are recognized by recording a provision for loan losses. See Acquired Impaired Loans for further discussion.
Business Combinations (Tables)
0 Months Ended 12 Months Ended
Apr. 2, 2013
Dec. 31, 2012
Bank of Whitman [Member]
Dec. 31, 2012
First Heritage Bank [Member]
Dec. 31, 2012
Summit Bank [Member]
Business Acquisition [Line Items]
 
 
 
 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
Text Block 
Text Block 
Text Block 
Text Block 
Business Acquisition, Pro Forma Information [Table Text Block]
Text Block 
 
 
 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] 
The table below summarizes the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed:
 
 
April 1, 2013
 
 
(in thousands)
 
 
 
Purchase price as of April 1, 2013
 
$
540,791

Recognized amounts of identifiable assets acquired and (liabilities assumed), at fair value:
 
 
Cash and cash equivalents
 
$
110,440

Investment securities
 
730,842

Federal Home Loan Bank stock
 
11,824

Acquired loans
 
1,407,798

Premises and equipment
 
35,884

Other real estate owned
 
14,708

Core deposit intangible
 
15,257

Other assets
 
75,820

Deposits
 
(1,883,407
)
Federal Home Loan Bank advances
 
(128,885
)
Junior subordinated debentures
 
(51,000
)
Other liabilities
 
(26,888
)
Total fair value of identifiable net assets
 
312,393

Goodwill
 
$
228,398

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] 
The table below displays the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed:
 
 
August 5, 2011
 
 
(in thousands)
Assets
 
 
Cash and due from banks
 
$
52,072

Investment securities
 
16,298

Federal Reserve Bank and Federal Home Loan Bank stock
 
3,977

Acquired loans
 
200,041

Accrued interest receivable
 
1,975

Premises and equipment
 
86

FDIC receivable
 
156,710

Core deposit intangible
 
3,943

Other assets
 
2,447

Total assets acquired
 
$
437,549

Liabilities
 
 
Deposits
 
$
401,127

Federal Home Loan Bank advances
 
32,949

Accrued interest payable
 
213

Deferred tax liability
 
1,034

Other liabilities
 
396

Total liabilities assumed
 
435,719

Net assets acquired (after tax gain)
 
$
1,830

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] 
The table below displays the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed:
 
 
 
May 27, 2011
 
 
(in thousands)
Assets
 
 
Cash and due from banks
 
$
4,688

Interest-earning deposits with banks
 
6,689

Investment securities
 
5,303

Federal Home Loan Bank stock
 
477

Acquired loans
 
81,488

Accrued interest receivable
 
476

Premises and equipment
 
5,339

FDIC receivable
 
4,751

Other real estate owned covered by loss sharing
 
8,225

Goodwill
 
4,023

Core deposit intangible
 
1,337

FDIC indemnification asset
 
38,531

Other assets
 
3,657

Total assets acquired
 
$
164,984

Liabilities
 
 
Deposits
 
$
159,525

Federal Home Loan Bank advances
 
5,003

Accrued interest payable
 
421

Other liabilities
 
35

Total liabilities assumed
 
$
164,984

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] 
The table below displays the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed:
 
 
 
May 20, 2011
 
 
(in thousands)
Assets
 
 
Cash and due from banks
 
$
1,837

Interest-earning deposits with banks and federal funds sold
 
14,198

Investment securities
 
871

Federal Home Loan Bank stock
 
406

Acquired loans
 
69,783

Accrued interest receivable
 
429

Premises and equipment
 
42

FDIC receivable
 
6,984

Other real estate owned covered by loss sharing
 
2,162

Goodwill
 
1,892

Core deposit intangible
 
509

FDIC indemnification asset
 
30,203

Other assets
 
1,813

Total assets acquired
 
$
131,129

Liabilities
 
 
Deposits
 
$
123,279

Federal Home Loan Bank advances
 
7,772

Accrued interest payable
 
71

Other liabilities
 
7

Total liabilities assumed
 
$
131,129

Business Acquisition, Pro Forma Information [Table Text Block] 
The following table presents certain unaudited pro forma information for illustrative purposes only, for the years ended December 31, 2013 and 2012 as if West Coast had been acquired on January 1, 2012. The unaudited estimated pro forma information combines the historical results of West Coast with the Company's consolidated historical results and includes certain adjustments reflecting the estimated impact of certain fair value adjustments for the respective periods. The pro forma information is not indicative of what would have occurred had the acquisition occurred on January 1, 2012. In particular, no adjustments have been made to eliminate the impact of other-than-temporary impairment losses and losses recognized on the sale of securities that may not have been necessary had the investments securities been recorded at fair value as of January 1, 2012. The unaudited pro forma information does not consider any changes to the provision for credit losses resulting from recording loan assets at fair value. Additionally, Columbia expects to achieve further operating cost savings and other business synergies, including revenue growth, as a result of the acquisition which are not reflected in the pro forma amounts that follow. As a result, actual amounts will differ from the unaudited pro forma information presented.
 
 
Unaudited Pro Forma
 
 
Years Ended December 31,
 
 
2013
 
2012
 
 
(in thousands)
Total revenues (net interest income plus noninterest income)
 
$
337,712

 
$
420,167

Net income
 
$
76,496

 
$
91,261

Earnings per share - basic
 
$
1.50

 
$
1.79

Earnings per share - diluted
 
$
1.46

 
$
1.74

Securities (Tables)
Securities Available for Sale 
The following table summarizes the amortized cost, gross unrealized gains and losses and the resulting fair value of securities available for sale:
 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
December 31, 2013
 
(in thousands)
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
961,442

 
$
10,640

 
$
(23,674
)
 
$
948,408

State and municipal securities
 
357,013

 
11,450

 
(3,993
)
 
364,470

U.S. government agency and government-sponsored enterprise securities
 
335,671

 
434

 
(10,066
)
 
326,039

U.S. government securities
 
21,081

 
—

 
(967
)
 
20,114

Other securities
 
5,284

 
27

 
(231
)
 
5,080

Total
 
$
1,680,491

 
$
22,551

 
$
(38,931
)
 
$
1,664,111

December 31, 2012
 
 
 
 
 
 
 
 
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
561,076

 
$
16,719

 
$
(5,426
)
 
$
572,369

State and municipal securities
 
265,070

 
20,893

 
(388
)
 
285,575

U.S. government agency and government-sponsored enterprise securities
 
120,085

 
851

 
(435
)
 
120,501

U.S. government securities
 
19,804

 
39

 
(15
)
 
19,828

Other securities
 
3,324

 
104

 
(36
)
 
3,392

Total
 
$
969,359

 
$
38,606

 
$
(6,300
)
 
$
1,001,665

Schedule of Contractual Maturities of Investment Securities Available for Sale 
The following table summarizes the amortized cost and fair value of securities available for sale by contractual maturity groups:
 
 
December 31, 2013
 
 
Amortized Cost
 
Fair Value
 
 
(in thousands)
Due within one year
 
$
14,079

 
$
14,239

Due after one year through five years
 
303,875

 
302,641

Due after five years through ten years
 
487,643

 
480,244

Due after ten years
 
869,610

 
861,907

Other securities with no stated maturity
 
$
5,284

 
$
5,080

Total investment securities available-for-sale
 
$
1,680,491

 
$
1,664,111

Carrying Value of Securities Pledged As Collateral 
The following table summarizes, as of December 31, 2013 and 2012, the carrying value of securities pledged as collateral to secure public deposits, borrowings and other purposes as permitted or required by law: 
 
 
December 31, 2013
 
December 31, 2012
 
 
(in thousands)
Washington and Oregon State to secure public deposits
 
$
277,012

 
$
281,006

Federal Reserve Bank to secure borrowings
 
42,694

 
47,634

Other securities pledged
 
43,081

 
46,090

Total securities pledged as collateral
 
$
362,787

 
$
374,730

Summary of Gross Unrealized Losses and Fair Value of the Investments with Unrealized Losses 
The following tables show the gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2013 and 2012:
 
 
Less than 12 Months
 
12 Months or More
 
Total
 
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
December 31, 2013
 
(in thousands)
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
492,921

 
$
(10,991
)
 
$
121,303

 
$
(12,684
)
 
$
614,224

 
(23,675
)
State and municipal securities
 
112,400

 
(3,069
)
 
13,815

 
(923
)
 
126,215

 
(3,992
)
U.S. government agency and government-sponsored enterprise securities
 
260,001

 
(8,063
)
 
28,447

 
(2,003
)
 
288,448

 
(10,066
)
U.S. government securities
 
20,114

 
(967
)
 
—

 
—

 
20,114

 
(967
)
Other securities
 
2,257

 
(58
)
 
2,783

 
(173
)
 
5,040

 
(231
)
Total
 
$
887,693

 
$
(23,148
)
 
$
166,348

 
$
(15,783
)
 
$
1,054,041

 
$
(38,931
)
December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations
 
$
167,739

 
$
(5,090
)
 
$
12,204

 
$
(336
)
 
$
179,943

 
$
(5,426
)
State and municipal securities
 
20,413

 
(383
)
 
210

 
(5
)
 
20,623

 
(388
)
U.S. government agency and government-sponsored enterprise securities
 
56,600

 
(435
)
 
—

 
—

 
56,600

 
(435
)
U.S. government securities
 
9,914

 
(15
)
 
—

 
—

 
9,914

 
(15
)
Other securities
 
—

 
—

 
964

 
(36
)
 
964

 
(36
)
Total
 
$
254,666

 
$
(5,923
)
 
$
13,378

 
$
(377
)
 
$
268,044

 
$
(6,300
)
Noncovered Loans (Tables)
Analysis of Loan Portfolio by Major Types of Loans 
The following is an analysis of our covered loans, net of related allowance for losses as of December 31, 2013 and 2012:
 
 
December 31, 2013
 
December 31, 2012
Covered loans:
 
(dollars in thousands)
Commercial business
 
$
72,870

 
$
125,373

Real estate:
 
 
 
 
One-to-four family residential
 
41,642

 
57,150

Commercial and multifamily residential
 
170,879

 
233,106

Total real estate
 
212,521

 
290,256

Real estate construction:
 
 
 
 
One-to-four family residential
 
14,781

 
25,398

Commercial and multifamily residential
 
6,869

 
15,251

Total real estate construction
 
21,650

 
40,649

Consumer
 
34,101

 
44,516

Subtotal of covered loans
 
341,142

 
500,794

Less:
 
 
 
 
Valuation discount resulting from acquisition accounting
 
43,297

 
79,401

Allowance for loan losses
 
20,174

 
30,056

Covered loans, net of valuation discounts and allowance for loan losses
 
$
277,671

 
$
391,337

Analysis of Loan Portfolio by Major Types of Loans 
The following is an analysis of the noncovered loan portfolio by major types of loans (net of unearned income):
 
 
December 31,
2013
 
December 31,
2012
 
 
(in thousands)
Noncovered loans:
 
 
 
 
Commercial business
 
$
1,561,782

 
$
1,155,158

Real estate:
 
 
 
 
One-to-four family residential
 
108,317

 
43,922

Commercial and multifamily residential
 
2,080,075

 
1,061,201

Total real estate
 
2,188,392

 
1,105,123

Real estate construction:
 
 
 
 
One-to-four family residential
 
54,155

 
50,602

Commercial and multifamily residential
 
126,390

 
65,101

Total real estate construction
 
180,545

 
115,703

Consumer
 
357,014

 
157,493

Less: Net unearned income
 
(68,282
)
 
(7,767
)
Total noncovered loans, net of unearned income
 
4,219,451

 
2,525,710

Less: Allowance for loan and lease losses
 
(52,280
)
 
(52,244
)
Total noncovered loans, net
 
$
4,167,171

 
$
2,473,466

Loans held for sale
 
$
735

 
$
2,563

Analysis of Nonaccrual Loans 
The following is an analysis of noncovered, nonaccrual loans as of December 31, 2013 and 2012:
 
 
 
December 31, 2013
 
December 31, 2012
 
 
Recorded
Investment
Nonaccrual
Loans
 
Unpaid Principal
Balance
Nonaccrual
Loans
 
Recorded
Investment
Nonaccrual
Loans
 
Unpaid Principal
Balance
Nonaccrual
Loans
Noncovered loans:
 
(in thousands)
Commercial business:
 
 
 
 
 
 
 
 
Secured
 
$
12,433

 
$
19,186

 
$
9,037

 
$
17,821

Unsecured
 
176

 
202

 
262

 
262

Real estate:
 
 
 
 
 
 
 
 
One-to-four family residential
 
2,667

 
4,678

 
2,349

 
2,672

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
Commercial land
 
442

 
783

 
4,076

 
7,491

Income property
 
4,267

 
5,383

 
8,520

 
10,815

Owner occupied
 
6,334

 
7,486

 
6,608

 
7,741

Real estate construction:
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
Land and acquisition
 
3,246

 
6,601

 
3,084

 
6,704

Residential construction
 
459

 
1,928

 
1,816

 
2,431

Consumer
 
3,991

 
6,187

 
1,643

 
1,940

Total
 
$
34,015

 
$
52,434

 
$
37,395

 
$
57,877

Analysis of the Aged Loan Portfolio 
The following is an aging of the recorded investment of the noncovered loan portfolio as of December 31, 2013 and 2012:
 
 
 
Current
Loans
 
30 - 59
Days
Past Due
 
60 - 89
Days
Past Due
 
Total
Past Due
 
Nonaccrual
Loans
 
Total Loans
December 31, 2013
 
(in thousands)
Noncovered loans:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
1,457,820

 
$
12,713

 
$
681

 
$
13,394

 
$
12,433

 
$
1,483,647

Unsecured
 
72,255

 
156

 
17

 
173

 
176

 
72,604

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
100,591

 
1,993

 
641

 
2,634

 
2,667

 
105,892

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
142,034

 
—

 
358

 
358

 
442

 
142,834

Income property
 
1,138,732

 
144

 
3,289

 
3,433

 
4,267

 
1,146,432

Owner occupied
 
749,561

 
4,714

 
—

 
4,714

 
6,334

 
760,609

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
8,225

 
199

 
—

 
199

 
3,246

 
11,670

Residential construction
 
41,533

 
—

 
—

 
—

 
459

 
41,992

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
86,521

 
—

 
—

 
—

 
—

 
86,521

Owner occupied
 
38,916

 
—

 
—

 
—

 
—

 
38,916

Consumer
 
322,685

 
835

 
823

 
1,658

 
3,991

 
328,334

Total
 
$
4,158,873

 
$
20,754

 
$
5,809

 
$
26,563

 
$
34,015

 
$
4,219,451

 
 
Current
Loans
 
30 - 59
Days
Past Due
 
60 - 89
Days
Past Due
 
Total
Past Due
 
Nonaccrual
Loans
 
Total Loans
December 31, 2012
 
(in thousands)
Noncovered loans:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
1,091,770

 
$
4,259

 
$
1,485

 
$
5,744

 
$
9,037

 
$
1,106,551

Unsecured
 
44,817

 
252

 
12

 
264

 
262

 
45,343

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
41,508

 
193

 
142

 
335

 
2,349

 
44,192

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
42,818

 
311

 
122

 
433

 
4,076

 
47,327

Income property
 
603,339

 
2,726

 
227

 
2,953

 
8,520

 
614,812

Owner occupied
 
387,525

 
1,040

 
—

 
1,040

 
6,608

 
395,173

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
15,412

 
—

 
—

 
—

 
3,084

 
18,496

Residential construction
 
29,848

 
—

 
—

 
—

 
1,816

 
31,664

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
28,342

 
—

 
—

 
—

 
—

 
28,342

Owner occupied
 
36,211

 
—

 
—

 
—

 
—

 
36,211

Consumer
 
155,207

 
387

 
362

 
749

 
1,643

 
157,599

Total
 
$
2,476,797

 
$
9,168

 
$
2,350

 
$
11,518

 
$
37,395

 
$
2,525,710

Impaired Financing Receivables 
The following is an analysis of impaired loans (see Note 1) as of December 31, 2013 and 2012: 
 
 
Recorded Investment
of Loans
Collectively Measured
for Contingency
Provision
 
Recorded Investment
of Loans
Individually
Measured for
Specific
Impairment
 
Impaired Loans With
Recorded Allowance
 
Impaired Loans Without
Recorded Allowance
 
 
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Recorded
Investment
 
Unpaid
Principal
Balance
December 31, 2013
 
(in thousands)
Noncovered loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
1,478,560

 
$
5,087

 
$
2,866

 
$
2,885

 
$
343

 
$
2,221

 
$
2,560

Unsecured
 
72,569

 
35

 
35

 
35

 
35

 
—

 
—

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
104,272

 
1,620

 
442

 
479

 
138

 
1,178

 
2,119

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
142,719

 
115

 
—

 
—

 
—

 
115

 
398

Income property
 
1,140,019

 
6,413

 
918

 
933

 
26

 
5,495

 
7,885

Owner occupied
 
749,601

 
11,008

 
3,802

 
3,817

 
1,073

 
7,206

 
10,464

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
9,726

 
1,944

 
113

 
113

 
71

 
1,831

 
2,587

Residential construction
 
41,992

 
—

 
—

 
—

 
—

 
—

 
—

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
86,521

 
—

 
—

 
—

 
—

 
—

 
—

Owner occupied
 
38,916

 
—

 
—

 
—

 
—

 
—

 
—

Consumer
 
328,167

 
167

 
23

 
27

 
4

 
144

 
210

Total
 
$
4,193,062

 
$
26,389

 
$
8,199

 
$
8,289

 
$
1,690

 
$
18,190

 
$
26,223

 
 
 
Recorded Investment
of Loans
Collectively Measured
for Contingency
Provision
 
Recorded Investment
of Loans
Individually
Measured for
Specific
Impairment
 
Impaired Loans With
Recorded Allowance
 
Impaired Loans Without
Recorded Allowance
 
 
Recorded
Investment
 
Unpaid
Principal
Balance
 
Related
Allowance
 
Recorded
Investment
 
Unpaid
Principal
Balance
December 31, 2012
 
(in thousands)
Noncovered loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
1,101,689

 
$
4,862

 
$
690

 
$
1,994

 
$
113

 
$
4,172

 
$
6,769

Unsecured
 
45,251

 
92

 
92

 
92

 
92

 
—

 
—

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
42,103

 
2,089

 
345

 
364

 
112

 
1,744

 
1,902

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
44,672

 
2,655

 
—

 
—

 
—

 
2,655

 
5,727

Income property
 
606,656

 
8,156

 
2,670

 
2,727

 
1,040

 
5,486

 
7,860

Owner occupied
 
383,269

 
11,904

 
608

 
610

 
38

 
11,296

 
14,642

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
15,677

 
2,819

 
—

 
—

 
—

 
2,819

 
4,813

Residential construction
 
29,707

 
1,957

 
—

 
—

 
—

 
1,957

 
2,570

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
28,342

 
—

 
—

 
—

 
—

 
—

 
—

Owner occupied
 
36,211

 
—

 
—

 
—

 
—

 
—

 
—

Consumer
 
157,472

 
127

 
—

 
—

 
—

 
127

 
127

Total
 
$
2,491,049

 
$
34,661

 
$
4,405

 
$
5,787

 
$
1,395

 
$
30,256

 
$
44,410



The following table provides additional information on impaired loans for the years ended December 31, 2013, 2012 and 2011:
 
 
Year ended December 31, 2013
 
Year Ended December 31, 2012
 
Year ended December 31, 2011
 
 
Average Recorded
Investment
Impaired Loans 
 
Interest Recognized
on
Impaired Loans
 
Average Recorded
Investment
Impaired Loans 
 
Interest Recognized
on
Impaired Loans
 
Average Recorded
Investment
Impaired Loans 
 
Interest Recognized
on
Impaired Loans
Noncovered loans:
 
(in thousands)
Commercial business
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
5,636

 
$
19

 
$
8,978

 
$
9

 
$
15,578

 
$
511

Unsecured
 
61

 
3

 
113

 
6

 
138

 
—

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
1,665

 
63

 
2,130

 
—

 
2,494

 
—

Commercial & multifamily residential
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
1,691

 
—

 
3,124

 
—

 
4,263

 
—

Income property
 
8,910

 
238

 
7,895

 
77

 
8,881

 
59

Owner occupied
 
10,779

 
971

 
13,315

 
1,004

 
15,254

 
18

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
2,624

 
6

 
4,465

 
—

 
8,972

 
116

Residential construction
 
420

 
—

 
3,223

 
11

 
4,535

 
—

Commercial & multifamily residential
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
—

 
—

 
3,169

 
—

 
7,065

 
—

Consumer
 
253

 
6

 
1,112

 
7

 
3,880

 
15

Total
 
$
32,039

 
$
1,306

 
$
47,524

 
$
1,114

 
$
71,060

 
$
719


Analysis of loans classified as Troubled Debt Restructurings (“TDR”) 
The following is an analysis of loans classified as Troubled Debt Restructurings ("TDR") for the years ended December 31, 2013, 2012 and 2011:
 
 
Year ended December 31, 2013
 
Year Ended December 31, 2012
 
Year ended December 31, 2011
 
 
Number of TDR Modifications
 
Pre-Modification
Outstanding
Recorded
Investment
 
Post-Modification
Outstanding
Recorded
Investment
 
Number of TDR Modifications
 
Pre-Modification
Outstanding
Recorded
Investment
 
Post-Modification
Outstanding
Recorded
Investment
 
Number of TDR Modifications
 
Pre-Modification
Outstanding
Recorded
Investment
 
Post-Modification
Outstanding
Recorded
Investment
Noncovered loans:
 
(dollars in thousands)
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
2

 
$
190

 
$
190

 
1

 
$
195

 
$
194

 
6

 
$
659

 
$
659

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
1

 
113

 
113

 
—

 
—

 
—

 
1

 
369

 
369

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
1

 
137

 
137

 
—

 
—

 
—

 
—

 
—

 
—

Income property
 
4

 
1,186

 
1,186

 
1

 
4,279

 
2,650

 
2

 
1,280

 
1,280

Owner occupied
 
1

 
172

 
172

 
—

 
—

 
—

 
—

 
—

 
—

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
1

 
117

 
117

 
—

 
—

 
—

 
—

 
—

 
—

Residential construction
 
—

 
—

 
—

 
—

 
—

 
—

 
1

 
36

 
36

Consumer
 
2

 
53

 
53

 
—

 
—

 
—

 
—

 
—

 
—

Total
 
12

 
$
1,968

 
$
1,968

 
2

 
$
4,474

 
$
2,844

 
10

 
$
2,344

 
$
2,344

Allowance for Noncovered Loan and Lease Losses and Unfunded Commitments and Letters of Credit (Tables)
Changes in the Allowance for Unfunded Commitments and Letters of Credit 
Changes in the allowance for unfunded commitments and letters of credit, a component of other liabilities in the consolidated balance sheet, are summarized as follows:
 
 
Years Ended December 31,
 
 
2013
 
2012
 
2011
 
 
(in thousands)
Beginning balance
 
$
1,915

 
$
1,535

 
$
1,165

Net changes in the allowance for unfunded commitments and letters of credit
 
590

 
380

 
370

Ending balance
 
$
2,505

 
$
1,915

 
$
1,535

Financing Receivable Credit Quality Indicators [Table Text Block] 
The following is an analysis of the credit quality of our covered loan portfolio as of December 31, 2013 and 2012:
 
 
Pass
 
Special Mention
 
Substandard
 
Doubtful
 
Loss
 
Total
December 31, 2013
 
(in thousands)
Covered loans:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
48,510

 
$
2,849

 
$
18,291

 
$
—

 
$
—

 
$
69,650

Unsecured
 
2,732

 
396

 
92

 
—

 
—

 
3,220

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
35,066

 
1,842

 
4,734

 
—

 
—

 
41,642

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
10,778

 
198

 
7,589

 
—

 
—

 
18,565

Income property
 
55,985

 
3,950

 
10,657

 
—

 
—

 
70,592

Owner occupied
 
67,653

 
111

 
13,958

 
—

 
—

 
81,722

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
4,674

 
2,739

 
1,936

 
—

 
—

 
9,349

Residential construction
 
3,008

 
—

 
2,424

 
—

 
—

 
5,432

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
3,806

 
—

 
1,709

 
—

 
—

 
5,515

Owner occupied
 
1,074

 
—

 
280

 
—

 
—

 
1,354

Consumer
 
30,722

 
33

 
3,319

 
27

 
—

 
34,101

Total
 
$
264,008

 
$
12,118

 
$
64,989

 
$
27

 
$
—

 
341,142

Less:
 
 
 
 
 
 
 
 
 
 
 
 
Valuation discount resulting from acquisition accounting
 
43,297

Allowance for loan losses
 
20,174

Covered loans, net
 
$
277,671

 
 
Pass
 
Special Mention
 
Substandard
 
Doubtful
 
Loss
 
Total
December 31, 2012
 
(in thousands)
Covered loans:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
71,621

 
$
1,823

 
$
45,150

 
$
—

 
$
—

 
$
118,594

Unsecured
 
4,988

 
—

 
1,791

 
—

 
—

 
6,779

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
44,782

 
1,344

 
11,024

 
—

 
—

 
57,150

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
16,336

 
—

 
10,292

 
—

 
—

 
26,628

Income property
 
81,205

 
864

 
23,315

 
—

 
—

 
105,384

Owner occupied
 
82,222

 
3,318

 
15,554

 
—

 
—

 
101,094

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
4,817

 
3,273

 
5,743

 
—

 
—

 
13,833

Residential construction
 
6,050

 
—

 
5,515

 
—

 
—

 
11,565

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
4,419

 
—

 
7,901

 
—

 
—

 
12,320

Owner occupied
 
1,107

 
—

 
1,824

 
—

 
—

 
2,931

Consumer
 
38,973

 
381

 
5,162

 
—

 
—

 
44,516

Total
 
$
356,520

 
$
11,003

 
$
133,271

 
$
—

 
$
—

 
500,794

Less:
 
 
 
 
 
 
 
 
 
 
 
 
Valuation discount resulting from acquisition accounting
 
79,401

Allowance for loan losses
 
30,056

Covered loans, net
 
$
391,337

Changes in the Allowance for Loan and Lease Losses 
The following tables show a detailed analysis of the allowance for loan and lease losses for noncovered loans for the years ended December 31, 2013, 2012 and 2011: 
 
 
Beginning
Balance
 
Charge-offs
 
Recoveries
 
Provision (Recovery)
 
Ending
Balance
 
Specific
Reserve
 
General
Allocation
Year ended December 31, 2013
 
(in thousands)
Noncovered loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
27,270

 
$
(4,148
)
 
$
1,512

 
$
6,393

 
$
31,027

 
$
343

 
$
30,684

Unsecured
 
753

 
(794
)
 
932

 
(195
)
 
696

 
35

 
661

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
694

 
(228
)
 
270

 
516

 
1,252

 
138

 
1,114

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
460

 
(20
)
 
169

 
(120
)
 
489

 
—

 
489

Income property
 
11,033

 
(1,405
)
 
489

 
(883
)
 
9,234

 
26

 
9,208

Owner occupied
 
6,362

 
(1,118
)
 
375

 
(2,014
)
 
3,605

 
1,073

 
2,532

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
1,171

 
(32
)
 
2,553

 
(3,082
)
 
610

 
71

 
539

Residential construction
 
635

 
(101
)
 
112

 
176

 
822

 
—

 
822

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
316

 
—

 
—

 
(31
)
 
285

 
—

 
285

Owner occupied
 
102

 
—

 
—

 
(44
)
 
58

 
—

 
58

Consumer
 
2,437

 
(2,242
)
 
552

 
1,800

 
2,547

 
4

 
2,543

Unallocated
 
1,011

 
—

 
—

 
644

 
1,655

 
—

 
1,655

Total
 
$
52,244

 
$
(10,088
)
 
$
6,964

 
$
3,160

 
$
52,280

 
$
1,690

 
$
50,590

 
 
Beginning
Balance
 
Charge-offs
 
Recoveries
 
Provision (Recovery)
 
Ending
Balance
 
Specific
Reserve
 
General
Allocation
Year Ended December 31, 2012
 
(in thousands)
Noncovered loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
24,745

 
$
(10,029
)
 
$
1,354

 
$
11,200

 
$
27,270

 
$
113

 
$
27,157

Unsecured
 
689

 
(144
)
 
194

 
14

 
753

 
92

 
661

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
654

 
(549
)
 
285

 
304

 
694

 
112

 
582

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
488

 
(526
)
 
63

 
435

 
460

 
—

 
460

Income property
 
9,551

 
(4,030
)
 
905

 
4,607

 
11,033

 
1,040

 
9,993

Owner occupied
 
9,606

 
(918
)
 
631

 
(2,957
)
 
6,362

 
38

 
6,324

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
2,331

 
(989
)
 
1,059

 
(1,230
)
 
1,171

 
—

 
1,171

Residential construction
 
864

 
(617
)
 
429

 
(41
)
 
635

 
—

 
635

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
665

 
(93
)
 
66

 
(322
)
 
316

 
—

 
316

Owner occupied
 
35

 
—

 
—

 
67

 
102

 
—

 
102

Consumer
 
2,719

 
(2,534
)
 
1,171

 
1,081

 
2,437

 
—

 
2,437

Unallocated
 
694

 
—

 
—

 
317

 
1,011

 
—

 
1,011

Total
 
$
53,041

 
$
(20,429
)
 
$
6,157

 
$
13,475

 
$
52,244

 
$
1,395

 
$
50,849


 
 
Beginning
Balance
 
Charge-offs
 
Recoveries
 
Provision (Recovery)
 
Ending
Balance
 
Specific
Reserve
 
General
Allocation
Year ended December 31, 2011
 
(in thousands)
Noncovered loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
21,811

 
$
(7,270
)
 
$
1,154

 
$
9,050

 
$
24,745

 
$
954

 
$
23,791

Unsecured
 
738

 
(639
)
 
1,444

 
(854
)
 
689

 
97

 
592

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
1,100

 
(717
)
 
80

 
191

 
654

 
96

 
558

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
634

 
(660
)
 
12

 
502

 
488

 
—

 
488

Income property
 
15,210

 
(1,407
)
 
414

 
(4,666
)
 
9,551

 
63

 
9,488

Owner occupied
 
9,692

 
(1,620
)
 
33

 
1,501

 
9,606

 
185

 
9,421

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
3,769

 
(1,419
)
 
1,978

 
(1,997
)
 
2,331

 
—

 
2,331

Residential construction
 
2,292

 
(1,068
)
 
113

 
(473
)
 
864

 
59

 
805

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
274

 
(2,213
)
 
—

 
2,604

 
665

 
—

 
665

Owner occupied
 
70

 
—

 
—

 
(35
)
 
35

 
—

 
35

Consumer
 
2,120

 
(3,918
)
 
351

 
4,166

 
2,719

 
30

 
2,689

Unallocated
 
3,283

 
—

 
—

 
(2,589
)
 
694

 
—

 
694

Total
 
$
60,993

 
$
(20,931
)
 
$
5,579

 
$
7,400

 
$
53,041

 
$
1,484

 
$
51,557

Financing Receivable Credit Quality Indicators [Table Text Block] 
The following is an analysis of the credit quality of our noncovered loan portfolio as of December 31, 2013 and 2012:
 
 
 
Pass
 
Special Mention
 
Substandard
 
Doubtful
 
Loss
 
Total
December 31, 2013
 
(in thousands)
Noncovered loans:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
1,372,038

 
$
43,309

 
$
68,300

 
$
—

 
$
—

 
$
1,483,647

Unsecured
 
72,226

 
199

 
179

 
—

 
—

 
72,604

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
98,626

 
1,567

 
5,699

 
—

 
—

 
105,892

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
137,850

 
—

 
4,984

 
—

 
—

 
142,834

Income property
 
1,108,033

 
5,473

 
32,926

 
—

 
—

 
1,146,432

Owner occupied
 
748,725

 
—

 
11,884

 
—

 
—

 
760,609

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
7,526

 
—

 
4,144

 
—

 
—

 
11,670

Residential construction
 
36,270

 
2,352

 
3,370

 
—

 
—

 
41,992

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
86,206

 
—

 
315

 
—

 
—

 
86,521

Owner occupied
 
38,916

 
—

 
—

 
—

 
—

 
38,916

Consumer
 
321,348

 
331

 
6,188

 
467

 
—

 
328,334

Total
 
$
4,027,764

 
$
53,231

 
$
137,989

 
$
467

 
$
—

 
4,219,451

Less:
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses
 
52,280

Noncovered loans, net
 
$
4,167,171

 
 
Pass
 
Special Mention
 
Substandard
 
Doubtful
 
Loss
 
Total
December 31, 2012
 
(in thousands)
Noncovered loans:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
1,011,722

 
$
29,222

 
$
65,607

 
$
—

 
$
—

 
$
1,106,551

Unsecured
 
44,788

 
26

 
529

 
—

 
—

 
45,343

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
40,346

 
406

 
3,440

 
—

 
—

 
44,192

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
43,401

 
—

 
3,926

 
—

 
—

 
47,327

Income property
 
581,671

 
3,688

 
29,453

 
—

 
—

 
614,812

Owner occupied
 
357,063

 
1,848

 
36,262

 
—

 
—

 
395,173

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
12,741

 
1,351

 
4,404

 
—

 
—

 
18,496

Residential construction
 
28,705

 
1,142

 
1,817

 
—

 
—

 
31,664

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
28,342

 
—

 
—

 
—

 
—

 
28,342

Owner occupied
 
36,211

 
—

 
—

 
—

 
—

 
36,211

Consumer
 
151,049

 
75

 
6,475

 
—

 
—

 
157,599

Total
 
$
2,336,039

 
$
37,758

 
$
151,913

 
$
—

 
$
—

 
2,525,710

Less:
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan losses
 
52,244

Noncovered loans, net
 
$
2,473,466

Noncovered Other Real Estate Owned (Tables)
Summary of Noncovered Other Real Estate Owned
The following table sets forth activity in noncovered OREO for the period:
 
 
December 31, 2013
 
December 31, 2012
 
 
(in thousands)
Noncovered OREO:
 
 
 
 
Balance, beginning of period
 
$
10,676

 
$
22,893

Established through acquisitions
 
14,708

 
—

Transfers in, net of write-downs ($90 and $205, respectively)
 
9,273

 
7,461

Additions to OREO
 
3,577

 
11

Additional OREO write-downs
 
(1,753
)
 
(4,816
)
Proceeds from sale of OREO property
 
(13,903
)
 
(15,689
)
Net gain on sale of OREO
 
1,256

 
816

Total noncovered OREO, end of period
 
$
23,834

 
$
10,676

Covered Assets and FDIC Loss-sharing Asset (Tables)
Analysis of Loan Portfolio by Major Types of Loans 
The following is an analysis of our covered loans, net of related allowance for losses as of December 31, 2013 and 2012:
 
 
December 31, 2013
 
December 31, 2012
Covered loans:
 
(dollars in thousands)
Commercial business
 
$
72,870

 
$
125,373

Real estate:
 
 
 
 
One-to-four family residential
 
41,642

 
57,150

Commercial and multifamily residential
 
170,879

 
233,106

Total real estate
 
212,521

 
290,256

Real estate construction:
 
 
 
 
One-to-four family residential
 
14,781

 
25,398

Commercial and multifamily residential
 
6,869

 
15,251

Total real estate construction
 
21,650

 
40,649

Consumer
 
34,101

 
44,516

Subtotal of covered loans
 
341,142

 
500,794

Less:
 
 
 
 
Valuation discount resulting from acquisition accounting
 
43,297

 
79,401

Allowance for loan losses
 
20,174

 
30,056

Covered loans, net of valuation discounts and allowance for loan losses
 
$
277,671

 
$
391,337

Changes in Accretable Yield for Acquired Loans 
The following table shows the changes in accretable yield for acquired loans for the years ended December 31, 2013, 2012, and 2011:
 
 
Years Ended December 31,
 
 
2013
 
2012
 
2011
 
 
(in thousands)
Balance at beginning of period
 
$
166,888

 
$
259,669

 
$
256,572

Additions resulting from acquisitions
 
—

 
—

 
59,810

Accretion
 
(51,816
)
 
(86,671
)
 
(90,378
)
Disposals
 
(6,898
)
 
(12,856
)
 
(31,483
)
Reclassifications from nonaccretable difference
 
(4,267
)
 
6,746

 
65,148

Balance at end of period
 
$
103,907

 
$
166,888

 
$
259,669

Schedule of Carrying Amounts for Acquired Loans at Acquisition Date 
 

Covered OREO at Carrying Value 
The following table sets forth activity in covered OREO at carrying value for the years ended December 31, 2013 and 2012:
 
 
 
December 31, 2013
 
December 31, 2012
 
 
(in thousands)
Covered OREO:
 
 
 
 
Balance, beginning of period
 
$
16,311

 
$
28,126

Transfers in
 
8,827

 
14,166

Additional OREO write-downs
 
(282
)
 
(3,484
)
Proceeds from sale of OREO property
 
(22,046
)
 
(33,315
)
Net gain on sale of OREO
 
9,283

 
10,818

Total covered OREO, end of period
 
$
12,093

 
$
16,311

FDIC Loss-sharing Asset 
The following table shows a detailed analysis of the FDIC loss-sharing asset for the years ending December 31, 2013 and 2012:
 
 
2013
 
2012
 
 
(in thousands)
Balance at beginning of period
 
$
96,354

 
$
175,071

Adjustments not reflected in income:
 
 
 
 
Cash received from the FDIC
 
(9,246
)
 
(54,649
)
FDIC reimbursable losses, net
 
(2,245
)
 
399

Adjustments reflected in income:
 
 
 
 
Amortization, net
 
(36,729
)
 
(42,940
)
Loan impairment (recapture)
 
(2,609
)
 
20,714

Sale of other real estate
 
(6,177
)
 
(7,789
)
Write-downs of other real estate
 
364

 
5,190

Other
 
134

 
358

Balance at end of period
 
$
39,846

 
$
96,354

Changes in the Allowance for Loan and Lease Losses 
The changes in the ALLL for covered loans for the years ended December 31, 2013, 2012, and 2011 are summarized as follows:
 
 
Years Ended December 31,
 
 
2013
 
2012
 
2011
 
 
(in thousands)
Balance at beginning of year
 
$
30,056

 
$
4,944

 
$
6,055

Loans charged off
 
(13,853
)
 
(5,112
)
 
(1,488
)
Recoveries
 
7,232

 
4,332

 
2,025

Provision charged to expense
 
(3,261
)
 
25,892

 
(1,648
)
Balance at end of year
 
$
20,174

 
$
30,056

 
$
4,944

Covered Assets and FDIC Loss-sharing Asset Covered Loans - Credit Quality Indicators (Tables)
Financing Receivable Credit Quality Indicators [Table Text Block]
The following is an analysis of the credit quality of our covered loan portfolio as of December 31, 2013 and 2012:
 
 
Pass
 
Special Mention
 
Substandard
 
Doubtful
 
Loss
 
Total
December 31, 2013
 
(in thousands)
Covered loans:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
48,510

 
$
2,849

 
$
18,291

 
$
—

 
$
—

 
$
69,650

Unsecured
 
2,732

 
396

 
92

 
—

 
—

 
3,220

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
35,066

 
1,842

 
4,734

 
—

 
—

 
41,642

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
10,778

 
198

 
7,589

 
—

 
—

 
18,565

Income property
 
55,985

 
3,950

 
10,657

 
—

 
—

 
70,592

Owner occupied
 
67,653

 
111

 
13,958

 
—

 
—

 
81,722

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
4,674

 
2,739

 
1,936

 
—

 
—

 
9,349

Residential construction
 
3,008

 
—

 
2,424

 
—

 
—

 
5,432

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
3,806

 
—

 
1,709

 
—

 
—

 
5,515

Owner occupied
 
1,074

 
—

 
280

 
—

 
—

 
1,354

Consumer
 
30,722

 
33

 
3,319

 
27

 
—

 
34,101

Total
 
$
264,008

 
$
12,118

 
$
64,989

 
$
27

 
$
—

 
341,142

Less:
 
 
 
 
 
 
 
 
 
 
 
 
Valuation discount resulting from acquisition accounting
 
43,297

Allowance for loan losses
 
20,174

Covered loans, net
 
$
277,671

 
 
Pass
 
Special Mention
 
Substandard
 
Doubtful
 
Loss
 
Total
December 31, 2012
 
(in thousands)
Covered loans:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial business:
 
 
 
 
 
 
 
 
 
 
 
 
Secured
 
$
71,621

 
$
1,823

 
$
45,150

 
$
—

 
$
—

 
$
118,594

Unsecured
 
4,988

 
—

 
1,791

 
—

 
—

 
6,779

Real estate:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential
 
44,782

 
1,344

 
11,024

 
—

 
—

 
57,150

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Commercial land
 
16,336

 
—

 
10,292

 
—

 
—

 
26,628

Income property
 
81,205

 
864

 
23,315

 
—

 
—

 
105,384

Owner occupied
 
82,222

 
3,318

 
15,554

 
—

 
—

 
101,094

Real estate construction:
 
 
 
 
 
 
 
 
 
 
 
 
One-to-four family residential:
 
 
 
 
 
 
 
 
 
 
 
 
Land and acquisition
 
4,817

 
3,273

 
5,743

 
—

 
—

 
13,833

Residential construction
 
6,050

 
—

 
5,515

 
—

 
—

 
11,565

Commercial and multifamily residential:
 
 
 
 
 
 
 
 
 
 
 
 
Income property
 
4,419

 
—

 
7,901

 
—

 
—

 
12,320

Owner occupied
 
1,107

 
—

 
1,824

 
—

 
—

 
2,931

Consumer
 
38,973

 
381

 
5,162

 
—

 
—

 
44,516

Total
 
$
356,520

 
$
11,003

 
$
133,271

 
$
—

 
$
—

 
500,794

Less:
 
 
 
 
 
 
 
 
 
 
 
 
Valuation discount resulting from acquisition accounting
 
79,401

Allowance for loan losses
 
30,056

Covered loans, net
 
$
391,337

Premises and Equipment (Tables)
Property, Plant and Equipment
Land, buildings, and furniture and equipment, less accumulated depreciation and amortization, were as follows:
 
 
 
December 31,
 
 
2013
 
2012
 
 
(in thousands)
Land
 
$
48,992

 
$
39,441

Buildings
 
94,878

 
84,407

Leasehold improvements
 
14,254

 
2,684

Furniture and equipment
 
29,465

 
24,110

Vehicles
 
546

 
438

Computer software
 
17,490

 
13,783

Total Cost
 
205,625

 
164,863

Less accumulated depreciation and amortization
 
(50,893
)
 
(46,155
)
Total
 
$
154,732

 
$
118,708

Goodwill and Intangible Assets (Tables)
Schedule of Goodwill and Intangible Assets 
The following table sets forth activity for goodwill and other intangible assets for the period:
 
 
Years Ended December 31,
 
 
2013
 
2012
 
2011
 
 
(in thousands)
Total goodwill, beginning of period
 
$
115,554

 
$
115,554

 
$
109,639

Established through acquisitions
 
228,398

 
—

 
5,915

Total goodwill, end of period
 
343,952

 
115,554

 
115,554

Other intangible assets, net
 
 
 
 
 
 
Core deposit intangible:
 
 
 
 
 
 
Gross core deposit intangible balance, beginning of period
 
32,441

 
32,441

 
26,652

Accumulated amortization, beginning of period
 
(16,720
)
 
(12,275
)
 
(7,956
)
Core deposit intangible, net, beginning of period
 
15,721

 
20,166

 
18,696

Established through acquisitions
 
15,257

 
—

 
5,789

CDI current period amortization
 
(6,045
)
 
(4,445
)
 
(4,319
)
Total core deposit intangible, end of period
 
24,933

 
15,721

 
20,166

Intangible assets not subject to amortization
 
919

 
—

 
—

Other intangible assets, net at end of period
 
25,852

 
15,721

 
20,166

Total goodwill and intangible assets, end of period
 
$
369,804

 
$
131,275

 
$
135,720

Estimated Future Amortization Expense of Core Deposit Intangibles 
The following table provides the estimated future amortization expense of core deposit intangibles for the succeeding five years:
 
Years Ending December 31,
 
(in thousands)
2014
 
$
5,963

2015
 
4,934

2016
 
4,195

2017
 
3,361

2018
 
2,500

Deposits (Tables)
Schedule Of Deposits 
Year-end deposits are summarized in the following table:
 
 
 
December 31,
 
 
2013
 
2012
 
 
(in thousands)
Core deposits:
 
 
 
 
Demand and other noninterest-bearing
 
$
2,171,703

 
$
1,321,171

Interest-bearing demand
 
1,170,006

 
870,821

Money market
 
1,569,261

 
1,043,459

Savings
 
496,444

 
314,371

Certificates of deposit less than $100,000
 
288,943

 
252,544

Total core deposits
 
5,696,357

 
3,802,366

Certificates of deposit greater than $100,000
 
201,498

 
212,924

Certificates of deposit insured through CDARS®
 
19,488

 
26,720

Brokered money market accounts
 
41,765

 
—

Subtotal
 
5,959,108

 
4,042,010

Valuation adjustment resulting from acquisition accounting
 
367

 
75

Total deposits
 
$
5,959,475

 
$
4,042,085

Schedule Of Time Deposits Maturity 
The following table shows the amount and maturity of time deposits that had balances of $100,000 or greater:
 
Years Ending December 31,
 
(in thousands)
2014
 
$
172,422

2015
 
28,556

2016
 
11,834

2017
 
4,810

2018
 
2,162

Thereafter
 
106

Total
 
$
219,890

Federal Home Loan Bank and Federal Reserve Bank Borrowings (Tables)
Schedule of Financial Instruments Owned and Pledged as Collateral 
The following table summarizes, as of December 31, 2013 and 2012, the carrying value of securities pledged as collateral to secure public deposits, borrowings and other purposes as permitted or required by law: 
 
 
December 31, 2013
 
December 31, 2012
 
 
(in thousands)
Washington and Oregon State to secure public deposits
 
$
277,012

 
$
281,006

Federal Reserve Bank to secure borrowings
 
42,694

 
47,634

Other securities pledged
 
43,081

 
46,090

Total securities pledged as collateral
 
$
362,787

 
$
374,730

Debt Instrument Activity For Year 
The maximum, average outstanding and year-end balances and average interest rates on advances from the FHLB were as follows for the years ended December 31, 2013, 2012 and 2011:
 
 
 
Years ended December 31,
 
 
2013
 
2012
 
2011
 
 
(dollars in thousands)
Balance at end of year
 
$
36,606

 
$
6,644

 
$
119,009

Average balance during the year
 
$
51,030

 
$
100,337

 
$
120,419

Maximum month-end balance during the year
 
$
190,631

 
$
118,967

 
$
127,426

Weighted average rate during the year
 
1.12
%
 
2.79
%
 
2.76
%
Weighted average rate at December 31
 
1.09
%
 
5.42
%
 
2.81
%
Schedule of Financial Instruments Owned and Pledged as Collateral 
FHLB advances are collateralized by the following:
 
 
 
December 31,
 
 
2013
 
2012
 
 
(in thousands)
Recorded value of blanket pledge on loans receivable
 
$
1,075,389

 
$
443,419

Total
 
$
1,075,389

 
$
443,419

FHLB borrowing capacity
 
$
1,037,159

 
$
435,189

Schedule of Maturities of Long-term Debt 
At December 31, 2013 FHLB advances were scheduled to mature as follows:
 
 
 
Federal Home Loan Bank Advances
Fixed rate advances
 
 
Wtd Avg Rate
 
Amount
 
 
(dollars in thousands)
Within 1 year
 
0.23
%
 
$
30,000

Over 1 through 5 years
 
5.66
%
 
1,000

Due after 10 years
 
5.37
%
 
5,000

Total
 
36,000

Valuation adjustment from acquisition accounting
 
606

Total
 
$
36,606

Debt Instrument Activity For Year 
Although the Company has not had FRB borrowings in the last three years
Schedule of Financial Instruments Owned and Pledged as Collateral 
Federal Reserve Bank:
 
 
 
December 31,
 
 
2013
 
2012
 
 
(in thousands)
Fair value of investment securities
 
$
40,210

 
$
45,641

Recorded value of pledged commercial loans
 
45,242

 
13,815

Total
 
$
85,452

 
$
59,456

Federal Reserve Bank borrowing capacity
 
$
85,452

 
$
59,456

Derivatives and Balance Sheet Offsetting (Tables)
Balance Sheet Offsetting [Table Text Block] 
The following tables show the gross interest rate swap agreements and repurchase agreements in the consolidated balance sheets and the respective collateral received or pledged in the form of other financial instruments, which are generally marketable securities. The collateral amounts in these tables are limited to the outstanding balances of the related asset or liability. Therefore, instances of overcollateralization are not shown.
 
Gross Amounts of Recognized Assets/Liabilities
 
Gross Amounts Offset in the Consolidated Balance Sheets
 
Net Amounts of Assets/Liabilities Presented in the Consolidated Balance Sheets
 
Gross Amounts Not Offset in the Consolidated Balance Sheets
 
 
 
 
Collateral Posted
 
Net Amount
December 31, 2013
(in thousands)
Assets
 
 
 
 
 
 
 
 
 
Interest rate contracts
$
9,044

 
$
—

 
$
9,044

 
$
—

 
$
9,044

Liabilities
 
 
 
 
 
 
 
 
 
Interest rate contracts
$
9,044

 
$
—

 
$
9,044

 
$
(9,044
)
 
$
—

Repurchase agreements
$
25,000

 
$
—

 
$
25,000

 
$
(25,000
)
 
$
—

 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
Interest rate contracts
$
14,921

 
$
—

 
$
14,921

 
$
—

 
$
14,921

Liabilities
 
 
 
 
 
 
 
 
 
Interest rate contracts
$
14,921

 
$
—

 
$
14,921

 
$
(14,921
)
 
$
—

Repurchase agreements
$
25,000

 
$
—

 
$
25,000

 
$
(25,000
)
 
$
—

Schedule of Fair Value Derivative Instruments 
The following table presents the fair value and balance sheet classification of derivatives not designated as hedging instruments at December 31, 2013 and 2012:
 
Asset Derivatives
 
Liability Derivatives
 
2013
 
2012
 
2013
 
2012
(in thousands)
Balance Sheet
Location
 
Fair Value
 
Balance Sheet
Location
 
Fair Value
 
Balance Sheet
Location
 
Fair Value
 
Balance Sheet
Location
 
Fair Value
Interest rate contracts
Other assets
 
$
9,044

 
Other assets
 
$
14,921

 
Other liabilities
 
$
9,044

 
Other liabilities
 
$
14,921

Employee Benefit Plans (Tables)
Schedule of Accumulated and Projected Benefit Obligations 
The following table reconciles the accumulated liability for the projected benefit obligation:
 
 
 
December 31,
2013
 
2012
 
 
(in thousands)
Balance at beginning of year
 
$
11,616

 
$
11,237

Established through acquisitions
 
3,398

 
—

Change in actuarial loss
 
2,212

 
(80
)
Benefit expense
 
1,880

 
1,017

Benefit payments
 
(2,683
)
 
(558
)
Balance at end of year
 
$
16,423

 
$
11,616

Schedule of Expected Benefit Payments 
The benefits expected to be paid in conjunction with the SERP are presented in the following table:
 
Years Ending December 31,
 
(in thousands)
2014
 
$
1,702

2015
 
975

2016
 
994

2017
 
1,088

2018
 
1,355

2019 through 2023
 
8,852

Total
 
$
14,966

Commitments and Contingent Liabilities (Tables)
Schedule of Future Minimum Rental Payments for Operating Leases
As of December 31, 2013, minimum future rental payments, exclusive of taxes and other charges, of these leases were: 
Years Ending December 31,
 
(in thousands)
2014
 
$
8,033

2015
 
6,787

2016
 
4,847

2017
 
3,642

2018
 
3,111

Thereafter
 
13,105

Total minimum payments
 
$
39,525

Fair Value Accounting and Measurement (Tables)
Financial Assets And Liabilities Accounted For Fair Value On Recurring Basis 
The following table sets forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at December 31, 2013 and 2012 by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:
 
 
Fair value  at
December 31, 2013
 
Fair Value Measurements at Reporting Date Using
 
 
Level 1
 
Level 2
 
Level 3
 
 
(in thousands)
Assets
 
 
 
 
 
 
 
 
Securities available for sale
 
 
 
 
 
 
 
 
U.S. government agency and sponsored enterprise mortgage-back securities and collateralized mortgage obligations
 
$
948,408

 
$
—

 
$
948,408

 
$
—

State and municipal securities
 
364,470

 
—

 
364,470

 
—

U.S. government agency and government-sponsored enterprise securities
 
326,039

 
—

 
326,039

 
—

U.S. government securities
 
20,114

 
20,114

 
—

 
—

Other securities
 
5,080

 
—

 
5,080

 
—

Total securities available for sale
 
$
1,664,111

 
$
20,114

 
$
1,643,997

 
$
—

Other assets (Interest rate contracts)
 
$
9,044

 
$
—

 
$
9,044

 
$
—

Liabilities
 
 
 
 
 
 
 
 
Other liabilities (Interest rate contracts)
 
$
9,044

 
$
—

 
$
9,044

 
$
—

 
 
Fair value  at
December 31, 2012
 
Fair Value Measurements at Reporting Date Using
 
 
Level 1
 
Level 2
 
Level 3
 
 
(in thousands)
Assets
 
 
 
 
 
 
 
 
Securities available for sale
 
 
 
 
 
 
 
 
U.S. government agency and sponsored enterprise mortgage-back securities and collateralized mortgage obligations
 
$
572,369

 
$
—

 
$
572,369

 
$
—

State and municipal debt securities
 
285,575

 
—

 
285,575

 
—

U.S. government agency and government-sponsored enterprise securities
 
120,501

 
—

 
120,501

 
—

U.S. government securities
 
19,828

 
19,828

 
—

 
—

Other securities
 
3,392

 
—

 
3,392

 
—

Total securities available for sale
 
$
1,001,665

 
$
19,828

 
$
981,837

 
$
—

Other assets (Interest rate contracts)
 
$
14,921

 
$
—

 
$
14,921

 
$
—

Liabilities
 
 
 
 
 
 
 
 
Other liabilities (Interest rate contracts)
 
$
14,921

 
$
—

 
$
14,921

 
$
—

Financial Assets Accounted For Fair Value On Nonrecurring Basis 
The following table sets forth the Company’s assets that were measured using fair value estimates on a nonrecurring basis at December 31, 2013 and 2012:
 
 
Fair value  at
December 31, 2013
 
Fair Value Measurements at Reporting Date Using
 
Losses During the Year Ended
December 31, 2013
 
 
Level 1
 
Level 2
 
Level 3
 
 
 
(in thousands)
Impaired loans
 
$
8,973

 
$
—

 
$
—

 
$
8,973

 
$
1,536

Noncovered OREO
 
5,080

 
—

 
—

 
5,080

 
994

Covered OREO
 
613

 
—

 
—

 
613

 
236

 
 
$
14,666

 
$
—

 
$
—

 
$
14,666

 
$
2,766

 
 
Fair value  at
December 31, 2012
 
Fair Value Measurements at Reporting Date Using
 
Losses During the Year Ended
December 31, 2012
 
 
Level 1
 
Level 2
 
Level 3
 
 
 
(in thousands)
Impaired loans
 
$
10,599

 
$
—

 
$
—

 
$
10,599

 
$
3,891

Noncovered OREO
 
10,970

 
—

 
—

 
10,970

 
3,788

Covered OREO
 
2,663

 
—

 
—

 
2,663

 
1,032

Noncovered OPPO
 
210

 
—

 
—

 
210

 
39

 
 
$
24,442

 
$
—

 
$
—

 
$
24,442

 
$
8,750

Fair Value Inputs, Assets, Quantitative Information [Table Text Block] 
The range and weighted-average of the significant unobservable inputs used to fair value our Level 3 nonrecurring assets during 2013 and 2012, along with the valuation techniques used, are shown in the following tables:
 
 
Fair value  at
December 31, 2013
 
Valuation Technique
 
Unobservable Input
 
Range (Weighted Average) (1)
 
 
(dollars in thousands)
Impaired loans
 
$
8,973

 
Fair Market Value of Collateral
 
Adjustment to Appraisal Value
 
N/A (2)
Noncovered OREO
 
5,080

 
Fair Market Value of Collateral
 
Adjustment to Appraisal Value
 
N/A (2)
Covered OREO
 
613

 
Fair Market Value of Collateral
 
Adjustment to Appraisal Value
 
N/A (2)
(1) Discount applied to appraisal value, letter of intent to purchase, or stated value (in the case of accounts receivable and inventory).
(2) Quantitative disclosures are not provided for impaired loans, noncovered OREO and covered OREO because there were no adjustments made to the appraisal value during the current period.
Fair Value, by Balance Sheet Grouping 
The following tables summarize carrying amounts and estimated fair values of selected financial instruments for the periods indicated:
 
 
 
December 31,
2013
 
 
Carrying
Amount
 
Fair
Value
 
Level 1
 
Level 2
 
Level 3
 
 
(in thousands)
Assets
 
 
 
 
 
 
 
 
 
 
Cash and due from banks
 
$
165,030

 
$
165,030

 
$
165,030

 
$
—

 
$
—

Interest-earning deposits with banks
 
14,531

 
14,531

 
14,531

 
—

 
—

Securities available for sale
 
1,664,111

 
1,664,111

 
20,114

 
1,643,997

 
—

FHLB stock
 
32,529

 
32,529

 
—

 
32,529

 
—

Loans held for sale
 
735

 
735

 
—

 
735

 
—

Loans
 
4,444,842

 
4,605,038

 
—

 
—

 
4,605,038

FDIC loss-sharing asset
 
39,846

 
11,248

 
—

 
—

 
11,248

Interest rate contracts
 
9,044

 
9,044

 
—

 
9,044

 
—

Liabilities
 
 
 
 
 
 
 
 
 
 
Deposits
 
$
5,959,475

 
$
5,958,747

 
$
5,449,546

 
$
509,201

 
$
—

FHLB advances
 
36,606

 
35,080

 
—

 
35,080

 
—

Repurchase agreements
 
25,000

 
26,361

 
—

 
26,361

 
—

Interest rate contracts
 
9,044

 
9,044

 
—

 
9,044

 
—


 
 
December 31,
2012
 
 
Carrying
Amount
 
Fair
Value
 
Level 1
 
Level 2
 
Level 3
 
 
(in thousands)
Assets
 
 
 
 
 
 
 
 
 
 
Cash and due from banks
 
$
124,573

 
$
124,573

 
$
124,573

 
$
—

 
$
—

Interest-earning deposits with banks
 
389,353

 
389,353

 
389,353

 
—

 
—

Securities available for sale
 
1,001,665

 
1,001,665

 
19,828

 
981,837

 
—

FHLB stock
 
21,819

 
21,819

 
—

 
21,819

 
—

Loans held for sale
 
2,563

 
2,563

 
—

 
2,563

 
—

Loans
 
2,864,803

 
2,944,317

 
—

 
—

 
2,944,317

FDIC loss-sharing asset
 
96,354

 
26,543

 
—

 
—

 
26,543

Interest rate contracts
 
14,921

 
14,921

 
—

 
14,921

 
—

Liabilities
 
 
 
 
 
 
 
 
 
 
Deposits
 
$
4,042,085

 
$
4,043,221

 
$
3,549,821

 
$
493,400

 
$
—

FHLB advances
 
6,644

 
5,894

 
—

 
5,894

 
—

Repurchase agreements
 
25,000

 
26,464

 
—

 
26,464

 
—

Interest rate contracts
 
14,921

 
14,921

 
—

 
14,921

 
—

Earnings Per Common Share (Tables)
Schedule of Basic and Diluted Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share for the periods indicated:
 
 
Year Ended December 31,
 
 
2013
 
2012
 
2011
 
 
(in thousands except per share)
Basic EPS:
 
 
 
 
 
 
Net income
 
$
60,016

 
$
46,143

 
$
48,037

Less: Earnings allocated to participating securities
 
 
 
 
 
 
Preferred shares
 
95

 
—

 
—

Nonvested restricted shares
 
523

 
443

 
450

Earnings allocated to common shareholders
 
$
59,398

 
$
45,700

 
$
47,587

Weighted average common shares outstanding
 
47,993

 
39,260

 
39,103

Basic earnings per common share
 
$
1.24

 
$
1.16

 
$
1.22

Diluted EPS:
 
 
 
 
 
 
Earnings allocated to common shareholders (1)
 
$
59,407

 
$
45,700

 
$
47,588

Weighted average common shares outstanding
 
47,993

 
39,260

 
39,103

Dilutive effect of equity awards and warrants
 
1,058

 
3

 
77

Weighted average diluted common shares outstanding
 
49,051

 
39,263

 
39,180

Diluted earnings per common share
 
$
1.21

 
$
1.16

 
$
1.21

Potentially dilutive share options that were not included in the computation of diluted EPS because to do so would be anti-dilutive
 
64

 
9

 
53

Share-Based Payments (Tables)
Schedule of Nonvested Share Activity 
A summary of changes in the Company’s nonvested shares and related information for the years ended December 31, 2013, 2012 and 2011 is presented below:
 
Nonvested Shares
 
Shares
 
Weighted
Average
Grant-Date
Fair Value
Nonvested at January 1, 2011
 
353,283

 
$
21.14

Granted
 
133,350

 
$
19.45

Vested
 
(109,033
)
 
$
25.72

Forfeited
 
(14,925
)
 
$
18.86

Nonvested at December 31, 2011
 
362,675

 
$
19.24

Granted
 
180,841

 
$
21.32

Vested
 
(118,511
)
 
$
21.65

Forfeited
 
(40,915
)
 
$
18.60

Nonvested at December 31, 2012
 
384,090

 
$
19.54

Granted
 
203,441

 
$
20.78

Vested
 
(117,153
)
 
$
16.90

Forfeited
 
(59,780
)
 
$
20.24

Nonvested at December 31, 2013
 
410,598

 
$
20.79

Schedule of Share-based Compensation, Stock Options, Activity 
A summary of option activity under the Plan as of December 31, 2013, and changes during the year then ended is presented below. The options granted during 2013 relate to the acquisition of West Coast.
 
Options
 
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
 
Aggregate
Intrinsic
Value
($000)
Balance at December 31, 2012
 
25,952

 
$
20.13

 
 
 
 
Granted
 
222,110

 
$
64.11

 
 
 
 
Forfeited
 
(83,284
)
 
$
69.27

 
 
 
 
Expired
 
(12,544
)
 
$
81.78

 
 
 
 
Exercised
 
(36,037
)
 
$
11.46

 
 
 
 
Balance at December 31, 2013
 
116,197

 
$
65.01

 
2.8
 
$
550

Total Exercisable at December 31, 2013
 
116,197

 
$
65.01

 
2.8
 
$
550

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range 
As of December 31, 2013, outstanding stock options consist of the following:
 
Ranges of
Exercise Prices
 
Number of
Option
Shares
 
Weighted Average
Remaining
Contractual Life
 
Weighted Average
Exercise Price of
Option Shares
 
Number of
Exercisable
Option Shares
 
Weighted Average
Exercise Price of
Exercisable Option
Shares
$0.00 - $9.99
 
29,602

 
5.0
 
$
9.91

 
29,602

 
$
9.91

$10.00 - $19.99
 
2,879

 
1.0
 
$
17.36

 
2,879

 
$
17.36

$30.00 - $39.99
 
4,051

 
3.1
 
$
30.86

 
4,051

 
$
30.86

$40.00 - $49.99
 
349

 
4.5
 
$
44.49

 
349

 
$
44.49

$50.00 - $146.41
 
79,316

 
2.0
 
$
89.14

 
79,316

 
$
89.14

$0.00 - $146.41
 
116,197

 
2.8
 
$
65.01

 
116,197

 
$
65.01

Income Tax (Tables)
Schedule of Components of Income Tax Expense (Benefit) 
The components of income tax expense (benefit) are as follows:
 
 
Years Ended December 31,
 
 
2013
 
2012
 
2011
 
 
(in thousands)
Current tax expense
 
$
21,581

 
$
21,218

 
$
21,688

Deferred tax expense (benefit)
 
5,413

 
(3,656
)
 
(3,783
)
Total
 
$
26,994

 
$
17,562

 
$
17,905

Schedule of Deferred Tax Assets and Liabilities 
Significant components of the Company’s deferred tax assets and liabilities are as follows:
 
 
 
December 31,
 
 
2013
 
2012
 
 
(in thousands)
Deferred tax assets:
 
 
 
 
Allowance for loan and lease losses
 
$
27,196

 
$
30,027

Supplemental executive retirement plan
 
8,565

 
6,967

Stock option and restricted stock
 
917

 
682

OREO costs
 
7,929

 
3,801

Nonaccrual interest
 
2,354

 
193

Purchase accounting
 
15,551

 
—

Unrealized loss on investment securities
 
7,176

 
—

Other
 
1,741

 
557

Total deferred tax assets
 
71,429

 
42,227

Deferred tax liabilities:
 
 
 
 
Asset purchase tax basis difference
 
(7,754
)
 
(19,408
)
FHLB stock dividends
 
(4,159
)
 
(1,963
)
Purchase accounting
 
—

 
(745
)
Deferred loan fees
 
(4,512
)
 
(1,755
)
Unrealized gain on investment securities
 
—

 
(11,150
)
Depreciation
 
(7,076
)
 
(1,870
)
Total deferred tax liabilities
 
(23,501
)
 
(36,891
)
Net deferred tax asset
 
$
47,928

 
$
5,336

Schedule of Effective Income Tax Rate Reconciliation 
A reconciliation of the Company’s effective income tax rate with the federal statutory tax rate is as follows:
 
 
Years Ended December 31,
 
 
2013
 
2012
 
2011
 
 
Amount
 
Percent
 
Amount
 
Percent
 
Amount
 
Percent
 
 
(dollars in thousands)
Income tax based on statutory rate
 
$
30,454

 
35
 %
 
$
22,297

 
35
 %
 
$
23,080

 
35
 %
Reduction resulting from:
 
 
 
 
 
 
 
 
 
 
 
 
Tax credits
 
(1,038
)
 
(1
)%
 
(504
)
 
(1
)%
 
(608
)
 
(1
)%
Tax exempt instruments
 
(4,113
)
 
(5
)%
 
(3,906
)
 
(6
)%
 
(3,824
)
 
(6
)%
Life insurance proceeds
 
(1,250
)
 
(1
)%
 
(1,001
)
 
(2
)%
 
(766
)
 
(1
)%
Bargain purchase
 
—

 
—
 %
 
—

 
—
 %
 
(1,036
)
 
(2
)%
Acquisition costs
 
1,362

 
2
 %
 
—

 
—
 %
 
—

 
—
 %
Other, net
 
1,579

 
1
 %
 
676

 
1
 %
 
1,059

 
2
 %
Income tax provision
 
$
26,994

 
31
 %
 
$
17,562

 
27
 %
 
$
17,905

 
27
 %
Regulatory Capital Requirements (Tables)
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations
As of December 31, 2013, the most recent notification from the Federal Deposit Insurance Corporation categorized Columbia Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, an institution must maintain minimum total risk-based, Tier 1 risk-based, and Tier 1 leverage ratios as set forth in the following tables. There are no conditions or events since the notification that management believes have changed Columbia Bank’s category. The Company and its banking subsidiary’s actual capital amounts and ratios as of December 31, 2013 and 2012, are also presented in the following table.

 
 
Actual
 
For Capital
Adequacy
Purposes
 
To Be Well
Capitalized Under
Prompt
Corrective Action
Provision
Amount
 
Ratio
 
Amount
 
Ratio
 
Amount
 
Ratio
 
 
(dollars in thousands)
As of December 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
Total Capital (to risk-weighted assets):
 
 
 
 
 
 
 
 
 
 
 
 
The Company
 
$
760,349

 
14.68
%
 
$
414,300

 
8.0
%
 
N/A

 
N/A

Columbia Bank
 
$
700,099

 
13.52
%
 
$
414,238

 
8.0
%
 
$
517,797

 
10.0
%
Tier 1 Capital (to risk-weighted assets):
 
 
 
 
 
 
 
 
 
 
 
 
The Company
 
$
695,489

 
13.43
%
 
$
207,150

 
4.0
%
 
N/A

 
N/A

Columbia Bank
 
$
635,248

 
12.27
%
 
$
207,119

 
4.0
%
 
$
310,678

 
6.0
%
Tier 1 Capital (to average assets):
 
 
 
 
 
 
 
 
 
 
 
 
The Company
 
$
695,489

 
10.19
%
 
$
272,891

 
4.0
%
 
N/A

 
N/A

Columbia Bank
 
$
635,248

 
9.29
%
 
$
273,560

 
4.0
%
 
$
341,950

 
5.0
%
As of December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
Total Capital (to risk-weighted assets):
 
 
 
 
 
 
 
 
 
 
 
 
The Company
 
$
652,704

 
20.62
%
 
$
253,242

 
8.0
%
 
N/A

 
N/A

Columbia Bank
 
$
565,677

 
17.87
%
 
$
253,244

 
8.0
%
 
$
316,556

 
10.0
%
Tier 1 Capital (to risk-weighted assets):
 
 
 
 
 
 
 
 
 
 
 
 
The Company
 
$
612,584

 
19.35
%
 
$
126,621

 
4.0
%
 
N/A

 
N/A

Columbia Bank
 
$
525,556

 
16.60
%
 
$
126,622

 
4.0
%
 
$
189,933

 
6.0
%
Tier 1 Capital (to average assets):
 
 
 
 
 
 
 
 
 
 
 
 
The Company
 
$
612,584

 
12.78
%
 
$
191,778

 
4.0
%
 
N/A

 
N/A

Columbia Bank
 
$
525,556

 
11.07
%
 
$
189,986

 
4.0
%
 
$
237,483

 
5.0
%
Parent Company Financial Information (Tables)
Condensed Statements of Income - Parent Company Only 
Condensed Statements of Income—Parent Company Only
 
 
Years Ended December 31,
2013
 
2012
 
2011
(in thousands)
Income
 
 
 
 
 
 
Dividend from banking subsidiary
 
$
183,000

 
$
48,950

 
$
—

Interest-earning deposits
 
68

 
153

 
712

Other income
 
7

 
—

 
17

Total income
 
183,075

 
49,103

 
729

Expense
 
 
 
 
 
 
Compensation and employee benefits
 
658

 
182

 
88

Long-term obligations
 
—

 
—

 
579

Other borrowings
 
258

 
—

 
—

Other expense
 
4,162

 
1,193

 
1,114

Total expenses
 
5,078

 
1,375

 
1,781

Income (loss) before income tax expense (benefit) and equity in undistributed net income of subsidiaries
 
177,997

 
47,728

 
(1,052
)
Income tax expense (benefit)
 
(1,552
)
 
(435
)
 
91

Income (loss) before equity in undistributed net income of subsidiaries
 
179,549

 
48,163

 
(1,143
)
Equity in undistributed net income (loss) of subsidiaries
 
(119,533
)
 
(2,020
)
 
49,180

Net income
 
$
60,016

 
$
46,143

 
$
48,037

Condensed Balance Sheets - Parent Company Only 
Condensed Balance Sheets—Parent Company Only
 
 
December 31,
2013
 
2012
 
 
(in thousands)
Assets
 
 
 
 
Cash and due from banking subsidiary
 
$
3,006

 
$
1,729

Interest-earning deposits
 
50,678

 
84,915

Total cash and cash equivalents
 
53,684

 
86,644

Investment in banking subsidiary
 
993,002

 
676,974

Investment in other subsidiaries
 
5,037

 
—

Other assets
 
1,952

 
649

Total assets
 
$
1,053,675

 
$
764,267

Liabilities and Shareholders’ Equity
 
 
 
 
Other liabilities
 
$
426

 
$
259

Total liabilities
 
426

 
259

Shareholders’ equity
 
1,053,249

 
764,008

Total liabilities and shareholders’ equity
 
$
1,053,675

 
$
764,267

Condensed Statements of Cash Flows - Parent Company Only 
Condensed Statements of Cash Flows—Parent Company Only
 
 
Years Ended December 31,
2013
 
2012
 
2011
(in thousands)
Operating Activities
 
 
 
 
 
 
Net income
 
$
60,016

 
$
46,143

 
$
48,037

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
 
 
 
Equity in undistributed loss (earnings) of subsidiaries
 
119,533

 
2,020

 
(49,180
)
Stock-based compensation expense
 
2,844

 
1,622

 
1,635

Net changes in other assets and liabilities
 
6,830

 
(264
)
 
315

Net cash provided by operating activities
 
189,223

 
49,521

 
807

Investing Activities
 
 
 
 
 
 
Net cash paid in business combinations
 
(53,159
)
 
—

 
—

Proceeds from termination of trust subsidiaries
 
—

 
—

 
774

Net cash provided by (used in) investing activities
 
(53,159
)
 
—

 
774

Financing Activities
 
 
 
 
 
 
Preferred stock dividends
 
(32
)
 
—

 
—

Common stock dividends
 
(19,858
)
 
(38,824
)
 
(10,660
)
Repayment of long-term subordinated debt
 
(51,000
)
 
—

 
(25,774
)
Purchase and retirement of common stock
 
(429
)
 
—

 
(32
)
Proceeds from exercise of stock options
 
1,092

 
713

 
848

Downstream stock offering proceeds to the Bank
 
(100,000
)
 
—

 
(50,000
)
Excess tax benefit associated with share-based compensation
 
1,203

 
—

 
98

Net cash used in financing activities
 
(169,024
)
 
(38,111
)
 
(85,520
)
Increase (decrease) in cash and cash equivalents
 
(32,960
)
 
11,410

 
(83,939
)
Cash and cash equivalents at beginning of year
 
86,644

 
75,234

 
159,173

Cash and cash equivalents at end of year
 
$
53,684

 
$
86,644

 
$
75,234

Summary Of Quarterly Financial Information (Unaudited) (Tables)
Schedule of Quarterly Financial Information
Quarterly financial information for the years ended December 31, 2013 and 2012 is summarized as follows:
 
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
Year Ended
December 31,
 
 
(in thousands, except per share amounts)
2013
 
 
 
 
 
 
 
 
 
 
Total interest income
 
$
54,761

 
$
82,268

 
$
81,599

 
$
78,307

 
$
296,935

Total interest expense
 
1,279

 
2,279

 
1,184

 
1,098

 
5,840

Net interest income
 
53,482

 
79,989

 
80,415

 
77,209

 
291,095

Provision (recapture) for loan and lease losses
 
(1,000
)
 
2,000

 
4,260

 
(2,100
)
 
3,160

Provision (recapture) for losses on covered loans
 
980

 
(1,712
)
 
(947
)
 
(1,582
)
 
(3,261
)
Noninterest income
 
1,658

 
6,808

 
7,622

 
10,612

 
26,700

Noninterest expense
 
38,049

 
64,504

 
64,714

 
63,619

 
230,886

Income before income taxes
 
17,111

 
22,005

 
20,010

 
27,884

 
87,010

Provision for income taxes
 
4,935

 
7,414

 
6,734

 
7,911

 
26,994

Net income
 
$
12,176

 
$
14,591

 
$
13,276

 
$
19,973

 
$
60,016

Per common share (1)
 
 
 
 
 
 
 
 
 
 
Earnings (basic)
 
$
0.31

 
$
0.28

 
$
0.26

 
$
0.39

 
$
1.24

Earnings (diluted)
 
$
0.31

 
$
0.28

 
$
0.25

 
$
0.38

 
$
1.21

2012
 
 
 
 
 
 
 
 
 
 
Total interest income
 
$
69,712

 
$
62,114

 
$
59,469

 
$
57,209

 
$
248,504

Total interest expense
 
2,649

 
2,413

 
2,204

 
2,311

 
9,577

Net interest income
 
67,063

 
59,701

 
57,265

 
54,898

 
238,927

Provision for loan and lease losses
 
4,500

 
3,750

 
2,875

 
2,350

 
13,475

Provision (recapture) for losses on covered loans
 
15,685

 
11,688

 
(3,992
)
 
2,511

 
25,892

Noninterest income (loss)
 
9,574

 
11,828

 
(911
)
 
6,567

 
27,058

Noninterest expense
 
44,352

 
39,825

 
40,936

 
37,800

 
162,913

Income before income taxes
 
12,100

 
16,266

 
16,535

 
18,804

 
63,705

Provision for income taxes
 
3,198

 
4,367

 
4,655

 
5,342

 
17,562

Net income
 
$
8,902

 
$
11,899

 
$
11,880

 
$
13,462

 
$
46,143

Per common share (1)
 
 
 
 
 
 
 
 
 
 
Earnings (basic)
 
$
0.22

 
$
0.30

 
$
0.30

 
$
0.34

 
$
1.16

Earnings (diluted)
 
$
0.22

 
$
0.30

 
$
0.30

 
$
0.34

 
$
1.16

 __________
(1) Due to averaging of shares, quarterly earnings per share may not add up to the totals reported for the full year.
Summary of Significant Accounting Policies (Details) (USD $)
12 Months Ended
Dec. 31, 2013
location
Accounting Policies [Line Items]
 
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Revenue
$ 12,300,000 
Number Of Branch Locations
142 
Number Of Days Used To Determine Treatment As Cash Equivalent
90 days 
Number of Days of Delinqunecy at Which Loans Are Categorized As Non Accrual Status
90 days 
Loans and Leases Receivable, Nonaccrual Loans Considered Impaired
500,000 
Loans and Leases Receivable, Loans Evaluated For Impairment On Quarterly Basis, Outstanding
500,000 
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income
$ 8,000,000 
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Diluted Earnings Per Share
$ 0.16 
Core Deposits [Member]
 
Accounting Policies [Line Items]
 
Estimated life of CDI, in years
10 years 
WASHINGTON
 
Accounting Policies [Line Items]
 
Number Of Branch Locations
80 
OREGON
 
Accounting Policies [Line Items]
 
Number Of Branch Locations
62 
Vehicles [Member]
 
Accounting Policies [Line Items]
 
Property, Plant and Equipment, Estimated Useful Lives
P5Y 
Minimum [Member] |
Building and Building Improvements [Member]
 
Accounting Policies [Line Items]
 
Property, Plant and Equipment, Estimated Useful Lives
P5Y 
Minimum [Member] |
Furniture and Fixtures [Member]
 
Accounting Policies [Line Items]
 
Property, Plant and Equipment, Estimated Useful Lives
P3Y 
Minimum [Member] |
Software [Member]
 
Accounting Policies [Line Items]
 
Property, Plant and Equipment, Estimated Useful Lives
P3Y 
Maximum [Member] |
Building and Building Improvements [Member]
 
Accounting Policies [Line Items]
 
Property, Plant and Equipment, Estimated Useful Lives
P39Y 
Maximum [Member] |
Furniture and Fixtures [Member]
 
Accounting Policies [Line Items]
 
Property, Plant and Equipment, Estimated Useful Lives
P7Y 
Maximum [Member] |
Software [Member]
 
Accounting Policies [Line Items]
 
Property, Plant and Equipment, Estimated Useful Lives
P5Y 
Covered Loans [Member]
 
Accounting Policies [Line Items]
 
Percentage of covered loans that are subject to an FDIC loss-sharing agreement
96.00% 
Percentage of covered loans accounted for as acquired, impaired loans
90.00% 
Business Combinations (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Apr. 2, 2013
West Coast Bancorp [Member]
Dec. 31, 2013
West Coast Bancorp [Member]
Dec. 31, 2012
West Coast Bancorp [Member]
May 20, 2011
Summit Bank [Member]
Aug. 5, 2011
Bank of Whitman [Member]
May 27, 2011
First Heritage Bank [Member]
May 20, 2011
Scenario, Previously Reported [Member]
Summit Bank [Member]
May 27, 2011
Scenario, Previously Reported [Member]
First Heritage Bank [Member]
Business Acquisition [Line Items]
 
 
 
 
 
 
 
 
 
 
Business Acquisition, Pro Forma Revenue
 
 
 
$ 337,712 
$ 420,167 
 
 
 
 
 
Business Acquisition, Effective Date of Acquisition
 
 
Apr. 01, 2013 
 
 
May 20, 2011 
Aug. 05, 2011 
May 27, 2011 
 
 
Business Acquisition, Purchase Price Allocation, Current Assets, Cash and Cash Equivalents
 
 
110,440 
 
 
1,837 
52,072 
4,688 
 
 
Business Combination, Acquired Receivables, Fair Value
 
 
1,407,798 
 
 
69,783 
200,041 
81,488 
71,400 
81,900 
Business Acquisition, Purchase Price Allocation, Current Assets, Marketable Securities
 
 
730,842 
 
 
871 
16,298 
5,303 
 
 
Business Acquisition, Purchase Price Allocation, Federal Reserve Bank and Federal Home Loan Bank Stock
 
 
 
 
 
 
3,977 
 
 
 
Business Acquisition, Purchase Price Allocation, Accrued Interest Receivable
 
 
 
 
 
429 
1,975 
476 
 
 
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment
 
 
35,884 
 
 
42 
86 
5,339 
 
 
Business Acquisition, Purchase Price Allocation, FDIC Receivable
 
 
 
 
 
6,984 
156,710 
4,751 
 
 
Business Combination, Purchase Price Allocation, Amortizable Intangible Assets
 
 
15,257 
 
 
509 
3,943 
1,337 
 
 
Business Combination, Purchase Price Allocation, Other Assets
 
 
75,820 
 
 
1,813 
2,447 
3,657 
786 
1,700 
Business Acquisition, Purchase Price Allocation, Assets Acquired
 
 
 
 
 
131,129 
437,549 
164,984 
 
 
Business Acquisition, Purchase Price Allocation, Liabilities, Deposits
 
 
(1,883,407)
 
 
(123,279)
(401,127)
(159,525)
 
 
Business Acquisition, Purchase Price Allocation, Federal Home Loan Bank Advances
 
 
(128,885)
 
 
(7,772)
(32,949)
(5,003)
 
 
Business Acquisition, Purchase Price Allocation, Current Liabilities, Accrued Liabilities
 
 
 
 
 
71 
213 
421 
 
 
Business Acquisition, Purchase Price Allocation, Deferred Taxes Asset (Liability), Net, Noncurrent
 
 
 
 
 
 
1,034 
 
 
 
Business Acquisition, Purchase Price Allocation, Other Noncurrent Liabilities
 
 
(26,888)
 
 
(7)
(396)
(35)
 
 
Business Acquisition, Purchase Price Allocation, Liabilities Assumed
 
 
 
 
 
131,129 
435,719 
164,984 
 
 
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net
 
 
312,393 
 
 
 
1,830 
 
 
 
Business Acquisition, Purchase Price Allocation, Interest Earning Deposits With Banks
 
 
 
 
 
 
 
6,689 
 
 
Business Acquisition, Purchase Price Allocation, FHLB Stock
 
 
11,824 
 
 
406 
 
477 
 
 
Business Acquisition, Purchase Price Allocation, Loans Covered By Loss Sharing
 
 
 
 
 
2,162 
 
8,225 
2,700 
8,300 
Business Combination, Purchase Price Allocation, Goodwill Amount
 
 
228,398 
 
 
1,892 
 
4,023 
 
 
Business Acquisition, Purchase Price Allocation, FDIC Indemnification Asset
 
 
 
 
 
30,203 
 
38,531 
27,200 
38,100 
Business Acquisition, Purchase Price Allocation, Interest Earning Deposits With Banks And Federal Funds Sold
 
 
 
 
 
14,198 
 
 
 
 
Business Acquisition, Cost of Acquired Entity, Purchase Price
 
 
540,791 
 
 
 
 
 
 
 
Business Acquisition, Purchase Price Allocation, Other Real Estate Owned
 
 
14,708 
 
 
 
 
 
 
 
Business Acquisition, Purchase Price Allocation, Junior Subordinated Debentures
 
 
(51,000)
 
 
 
 
 
 
 
Business Acquisition, Pro Forma Net Income (Loss)
$ 76,496 
$ 91,261 
 
 
 
 
 
 
 
 
Business Acquisition, Pro Forma Earnings Per Share, Basic
 
 
 
$ 1.50 
$ 1.79 
 
 
 
 
 
Business Acquisition, Pro Forma Earnings Per Share, Diluted
 
 
 
$ 1.46 
$ 1.74 
 
 
 
 
 
Business Combinations narrative (Details) (USD $)
7 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended 0 Months Ended 0 Months Ended
Dec. 31, 2011
Dec. 31, 2011
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Apr. 2, 2013
West Coast Bancorp [Member]
Dec. 31, 2013
West Coast Bancorp [Member]
Dec. 31, 2012
West Coast Bancorp [Member]
Aug. 5, 2011
Bank of Whitman [Member]
location
Dec. 31, 2012
Bank of Whitman [Member]
location
May 27, 2011
First Heritage Bank [Member]
location
Dec. 31, 2012
First Heritage Bank [Member]
May 20, 2011
Summit Bank [Member]
Dec. 31, 2012
Summit Bank [Member]
May 27, 2011
Scenario, Previously Reported [Member]
First Heritage Bank [Member]
May 20, 2011
Scenario, Previously Reported [Member]
Summit Bank [Member]
Business Acquisition [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business Combination, Purchase Price Allocation, Goodwill Amount
 
 
 
 
 
$ 228,398,000 
 
 
 
 
$ 4,023,000 
 
$ 1,892,000 
 
 
 
Business Acquisition, Purchase Price Allocation, Loans Covered By Loss Sharing
 
 
 
 
 
 
 
 
 
 
8,225,000 
 
2,162,000 
 
8,300,000 
2,700,000 
Business Acquisition, Effective Date of Acquisition
 
 
 
 
 
Apr. 01, 2013 
 
 
Aug. 05, 2011 
 
May 27, 2011 
 
May 20, 2011 
 
 
 
Business Combination, Acquired Receivables, Fair Value
 
 
 
 
 
1,407,798,000 
 
 
200,041,000 
 
81,488,000 
 
69,783,000 
 
81,900,000 
71,400,000 
Number Of Branch Locations To Be Acquired
 
 
 
 
 
 
 
 
9 
 
5 
 
 
 
 
 
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net
 
 
 
 
 
312,393,000 
 
 
1,830,000 
 
 
 
 
 
 
 
Gain on bank acquisitions, net of tax
 
 
0 
0 
1,830,000 
 
 
 
1,800,000 
 
 
 
 
 
 
 
Business Combination, Purchase Price Allocation, Amortizable Intangible Assets
 
 
 
 
 
15,257,000 
 
 
3,943,000 
 
1,337,000 
 
509,000 
 
 
 
Business Combination, Acquisition Related Costs
 
 
 
 
 
 
25,500,000 
1,800,000 
 
 
 
 
 
 
 
 
Number Of Branch Locations Excluded From Operating Results
 
 
 
 
 
 
 
 
 
11 
 
 
 
 
 
 
Percentage of loss shared by FDIC
 
 
 
 
 
 
 
 
 
 
 
80.00% 
 
80.00% 
 
 
FDIC Percentage Of Loss Recoveries
 
 
 
 
 
 
 
 
 
 
 
80.00% 
 
80.00% 
 
 
Business Acquisition, Purchase Price Allocation, FDIC Indemnification Asset
 
 
 
 
 
 
 
 
 
 
38,531,000 
 
30,203,000 
 
38,100,000 
27,200,000 
Business Combination, Purchase Price Allocation, Other Assets
 
 
 
 
 
75,820,000 
 
 
2,447,000 
 
3,657,000 
 
1,813,000 
 
1,700,000 
786,000 
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Acquired Loans
(369,000)
(1,700,000)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Loans Covered By Loss Sharing
(61,000)
(509,000)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, FDIC Indemnification Asset
427,000 
3,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Other Assets
1,900,000 
1,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business Acquisition, Purchase Price Allocation, Liabilities, Deposits
 
 
 
 
 
1,883,407,000 
 
 
401,127,000 
 
159,525,000 
 
123,279,000 
 
 
 
Business Acquisition, Purchase Price Allocation, Federal Home Loan Bank Advances
 
 
 
 
 
$ 128,885,000 
 
 
$ 32,949,000 
 
$ 5,003,000 
 
$ 7,772,000 
 
 
 
Cash and Cash Equivalents (Details) (Federal Reserve Bank [Member], USD $)
In Millions, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Federal Reserve Bank [Member]
 
 
Restricted Cash and Cash Equivalents Items [Line Items]
 
 
Restricted Cash and Cash Equivalents
$ 36.3 
$ 28.6 
Securities (Securities Available for Sale) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Schedule of Available-for-sale Securities [Line Items]
 
 
 
Amortized Cost
$ 1,680,491 
$ 969,359 
 
Gross Unrealized Gains
22,551 
38,606 
 
Gross Unrealized Losses
38,931 
6,300 
 
Fair Value
1,664,111 
1,001,665 
 
Available-for-sale Securities, Gross Realized Gain (Loss) [Abstract]
 
 
 
Gross realized losses
170 
714 
250 
Gross realized gains
632 
4,400 
384 
U.S. Government Agency and Government-Sponsored Enterprise Mortgage-Backed Securities and Collateralized Mortgage Obligations [Member]
 
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
 
Amortized Cost
961,442 
561,076 
 
Gross Unrealized Gains
10,640 
16,719 
 
Gross Unrealized Losses
23,674 
5,426 
 
Fair Value
948,408 
572,369 
 
State and Municipal Securities [Member]
 
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
 
Amortized Cost
357,013 
265,070 
 
Gross Unrealized Gains
11,450 
20,893 
 
Gross Unrealized Losses
3,993 
388 
 
Fair Value
364,470 
285,575 
 
U.S. Government Agency and Government-Sponsored Enterprise Securities [Member]
 
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
 
Amortized Cost
335,671 
120,085 
 
Gross Unrealized Gains
434 
851 
 
Gross Unrealized Losses
10,066 
435 
 
Fair Value
326,039 
120,501 
 
US Treasury Securities [Member]
 
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
 
Amortized Cost
21,081 
19,804 
 
Gross Unrealized Gains
0 
39 
 
Gross Unrealized Losses
967 
15 
 
Fair Value
20,114 
19,828 
 
Other Securities [Member]
 
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
 
Amortized Cost
5,284 
3,324 
 
Gross Unrealized Gains
27 
104 
 
Gross Unrealized Losses
231 
36 
 
Fair Value
$ 5,080 
$ 3,392 
 
Securities (Schedule of Contractual Maturities of Investment Securities Available for Sale) (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Available-for-sale Securities [Abstract]
 
Due within one year, Amortized Cost
$ 14,079 
Due after one year through five years, Amortized Cost
303,875 
Due after five years through ten years, Amortized Cost
487,643 
Due after ten years, Amortized Cost
869,610 
Total investment securities available-for-sale, Amortized Cost
1,680,491 
Due within one year, Fair Value
14,239 
Due after one year through five years, Fair Value
302,641 
Due after five years through ten years, Fair Value
480,244 
Due after ten years, Fair Value
861,907 
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis
5,284 
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value
5,080 
Total investment securities available-for-sale, Fair Value
$ 1,664,111 
Securities (Carrying Value of Securities Pledged as Collateral) (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Schedule of Available-for-sale Securities [Line Items]
 
 
Carrying amount of securities pledged as collateral
$ 362,787 
$ 374,730 
To Washington and Oregon State To Secure Public Deposits [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Carrying amount of securities pledged as collateral
277,012 
281,006 
To Federal Reserve Bank To Secure Borrowings [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Carrying amount of securities pledged as collateral
42,694 
47,634 
Other Securities [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Carrying amount of securities pledged as collateral
$ 43,081 
$ 46,090 
Securities (Summary of Gross Unrealized Losses and Fair Value of the Investments with Unrealized Losses) (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Schedule of Available-for-sale Securities [Line Items]
 
 
Less than 12 Months Fair Value
$ 887,693 
$ 254,666 
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss, Instant
23,148 
5,923 
12 Months or More Fair Value
166,348 
13,378 
12 Months or More Unrealized Losses
(15,783)
(377)
Total Fair Value
1,054,041 
268,044 
Total Unrealized Losses
(38,931)
(6,300)
U.S. Government Agency and Government-Sponsored Enterprise Mortgage-Backed Securities and Collateralized Mortgage Obligations [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Less than 12 Months Fair Value
492,921 
167,739 
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss, Instant
10,991 
5,090 
12 Months or More Fair Value
121,303 
12,204 
12 Months or More Unrealized Losses
(12,684)
(336)
Total Fair Value
614,224 
179,943 
Total Unrealized Losses
(23,675)
(5,426)
State and Municipal Securities [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Less than 12 Months Fair Value
112,400 
20,413 
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss, Instant
3,069 
383 
12 Months or More Fair Value
13,815 
210 
12 Months or More Unrealized Losses
(923)
(5)
Total Fair Value
126,215 
20,623 
Total Unrealized Losses
(3,992)
(388)
U.S. Government and Government-Sponsored Enterprise Securities [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Less than 12 Months Fair Value
260,001 
56,600 
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss, Instant
8,063 
435 
12 Months or More Fair Value
28,447 
0 
12 Months or More Unrealized Losses
(2,003)
0 
Total Fair Value
288,448 
56,600 
Total Unrealized Losses
(10,066)
(435)
US Treasury Securities [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Less than 12 Months Fair Value
20,114 
9,914 
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss, Instant
967 
15 
12 Months or More Fair Value
0 
0 
12 Months or More Unrealized Losses
0 
0 
Total Fair Value
20,114 
9,914 
Total Unrealized Losses
(967)
(15)
Other Securities [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Less than 12 Months Fair Value
2,257 
0 
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss, Instant
58 
0 
12 Months or More Fair Value
2,783 
964 
12 Months or More Unrealized Losses
(173)
(36)
Total Fair Value
5,040 
964 
Total Unrealized Losses
$ (231)
$ (36)
Securities (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2013
security
Schedule of Available-for-sale Securities [Line Items]
 
 
Number Of Issuances Of Securities Exceeding Shareholders Equity Threshold
 
0 
U.S. Government and Government-Sponsored Enterprise Securities [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Number Of Securities In Unrealized Loss Position
 
31 
Number Of Securities In Continuous Loss Position For Twelve Months or More
 
3 
US Treasury Securities [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Number Of Securities In Unrealized Loss Position
 
5 
Other Securities [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Issuances Of Securities Exceeding Shareholders Equity Threshold, Percent
 
10.00% 
Number Of Securities In Unrealized Loss Position
 
2 
Number Of Securities In Continuous Loss Position For Twelve Months or More
 
1 
U.S. Government Agency and Government-Sponsored Enterprise Mortgage-Backed Securities and Collateralized Mortgage Obligations [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Number Of Securities In Unrealized Loss Position
 
84 
Number Of Securities In Continuous Loss Position For Twelve Months or More
 
11 
Municipal Bonds [Member]
 
 
Schedule of Available-for-sale Securities [Line Items]
 
 
Number Of Securities In Unrealized Loss Position
 
131 
Number Of Securities In Continuous Loss Position For Twelve Months or More
 
11 
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities
$ 3.0 
 
Noncovered Loans (Narrative) (Details) (USD $)
12 Months Ended
Dec. 31, 2013
contract
loan
Dec. 31, 2012
contract
Dec. 31, 2011
contract
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Loans to related parties
$ 14,200,000 
$ 14,200,000 
 
Repayments on related party loans
2,000,000 
 
 
Commercial and residential real estate loans pledged as FHLB collateral
1,075,389,000 
443,419,000 
 
Federal Reserve Bank, Advances, Collateral Pledged
85,452,000 
59,456,000 
 
Loans and Leases Receivable, Impaired, Nonperforming, Nonaccrual of Interest
34,000,000 
37,400,000 
 
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans
2,900,000 
3,400,000 
5,300,000 
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing, Number of Loans
0 
 
 
Loans and Leases Receivable, Nonaccrual of Interest, Commitments of Additional Funds
28,000 
346,000 
 
Financing Receivable Modifications Additional Commitment To Lend
0 
236,000 
 
Financing Receivable, Modifications, Subsequent Default, Number of Contracts
0 
0 
0 
Loans Receivable [Member]
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
Commercial and residential real estate loans pledged as FHLB collateral
$ 1,075,389,000 
$ 443,419,000 
 
Noncovered Loans (Analysis of Loan Portfolio by Major Types of Loans) (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans, net
$ 4,444,842 
$ 2,864,803 
 
 
Loans held for sale
735 
2,563 
 
 
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Less: Net unearned income
(68,282)
(7,767)
 
 
Total noncovered loans, net of unearned income
4,219,451 
2,525,710 
 
 
Less: Allowance for loan and lease losses
(52,280)
(52,244)
(53,041)
(60,993)
Loans, net
4,167,171 
2,473,466 
 
 
Loans held for sale
735 
2,563 
 
 
Noncovered Loans [Member] |
One-to-Four Family Residential [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Real Estate
108,317 
43,922 
 
 
Real Estate Construction
54,155 
50,602 
 
 
Less: Allowance for loan and lease losses
(1,252)
(694)
(654)
(1,100)
Noncovered Loans [Member] |
Commercial and Multifamily Residential [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Real Estate
2,080,075 
1,061,201 
 
 
Real Estate Construction
126,390 
65,101 
 
 
Noncovered Loans [Member] |
Commercial Portfolio Segment [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Commercial Business
1,561,782 
1,155,158 
 
 
Noncovered Loans [Member] |
Real Estate Portfolio Segment [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Total Real Estate
2,188,392 
1,105,123 
 
 
Noncovered Loans [Member] |
Real Estate Construction Portfolio Segment [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Total Real Estate Construction
180,545 
115,703 
 
 
Noncovered Loans [Member] |
Consumer Portfolio Segment [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Consumer
357,014 
157,493 
 
 
Less: Allowance for loan and lease losses
$ (2,547)
$ (2,437)
$ (2,719)
$ (2,120)
Noncovered Loans (Analysis of Nonaccrual Loans) (Details) (Noncovered Loans [Member], USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Financing Receivable, Recorded Investment [Line Items]
 
 
Recorded Investment Nonaccrual Loans
$ 34,015 
$ 37,395 
Unpaid Principal Balance Nonaccrual Loans
52,434 
57,877 
Recorded Investment Nonaccrual Loans
 
37,395 
Consumer Portfolio Segment [Member]
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
Recorded Investment Nonaccrual Loans
3,991 
1,643 
Unpaid Principal Balance Nonaccrual Loans
6,187 
1,940 
Recorded Investment Nonaccrual Loans
 
1,643 
Secured Loans [Member]
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
Recorded Investment Nonaccrual Loans
12,433 
9,037 
Unpaid Principal Balance Nonaccrual Loans
19,186 
17,821 
Recorded Investment Nonaccrual Loans
 
9,037 
Unsecured Loans [Member]
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
Recorded Investment Nonaccrual Loans
176 
262 
Unpaid Principal Balance Nonaccrual Loans
202 
262 
Recorded Investment Nonaccrual Loans
 
262 
One-to-Four Family Residential [Member]
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
Recorded Investment Nonaccrual Loans
2,667 
2,349 
Unpaid Principal Balance Nonaccrual Loans
4,678 
2,672 
Recorded Investment Nonaccrual Loans
 
2,349 
Commercial Land [Member]
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
Recorded Investment Nonaccrual Loans
442 
4,076 
Unpaid Principal Balance Nonaccrual Loans
783 
7,491 
Recorded Investment Nonaccrual Loans
 
4,076 
Income Property Multifamily [Member]
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
Recorded Investment Nonaccrual Loans
4,267 
8,520 
Unpaid Principal Balance Nonaccrual Loans
5,383 
10,815 
Recorded Investment Nonaccrual Loans
 
8,520 
Owner Occupied [Member]
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
Recorded Investment Nonaccrual Loans
6,334 
6,608 
Unpaid Principal Balance Nonaccrual Loans
7,486 
7,741 
Recorded Investment Nonaccrual Loans
 
6,608 
Land And Acquisition [Member]
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
Recorded Investment Nonaccrual Loans
3,246 
3,084 
Unpaid Principal Balance Nonaccrual Loans
6,601 
6,704 
Recorded Investment Nonaccrual Loans
 
3,084 
Residential Construction [Member]
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
Recorded Investment Nonaccrual Loans
459 
1,816 
Unpaid Principal Balance Nonaccrual Loans
1,928 
2,431 
Recorded Investment Nonaccrual Loans
 
1,816 
Income Property Multifamily Construction [Member]
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
Recorded Investment Nonaccrual Loans
0 
0 
Owner Occupied Construction [Member]
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
Recorded Investment Nonaccrual Loans
$ 0 
$ 0 
Noncovered Loans (Analysis of the Aged Loan Portfolio) (Details) (Noncovered Loans [Member], USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
Current Loans
$ 4,158,873 
$ 2,476,797 
30 - 59 Days Past Due
20,754 
9,168 
60 - 89 Days Past Due
5,809 
2,350 
Total Past Due
26,563 
11,518 
Nonaccrual Loans
34,015 
37,395 
Loans Receivable, Net
4,219,451 
2,525,710 
Income Property Multifamily Construction [Member]
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
Current Loans
86,521 
28,342 
30 - 59 Days Past Due
0 
0 
60 - 89 Days Past Due
0 
0 
Total Past Due
0 
0 
Nonaccrual Loans
0 
0 
Loans Receivable, Net
86,521 
28,342 
Consumer Portfolio Segment [Member]
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
Current Loans
322,685 
155,207 
30 - 59 Days Past Due
835 
387 
60 - 89 Days Past Due
823 
362 
Total Past Due
1,658 
749 
Nonaccrual Loans
3,991 
1,643 
Loans Receivable, Net
328,334 
157,599 
Secured Loans [Member]
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
Current Loans
1,457,820 
1,091,770 
30 - 59 Days Past Due
12,713 
4,259 
60 - 89 Days Past Due
681 
1,485 
Total Past Due
13,394 
5,744 
Nonaccrual Loans
12,433 
9,037 
Loans Receivable, Net
1,483,647 
1,106,551 
Unsecured Loans [Member]
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
Current Loans
72,255 
44,817 
30 - 59 Days Past Due
156 
252 
60 - 89 Days Past Due
17 
12 
Total Past Due
173 
264 
Nonaccrual Loans
176 
262 
Loans Receivable, Net
72,604 
45,343 
One-to-Four Family Residential [Member]
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
Current Loans
100,591 
41,508 
30 - 59 Days Past Due
1,993 
193 
60 - 89 Days Past Due
641 
142 
Total Past Due
2,634 
335 
Nonaccrual Loans
2,667 
2,349 
Loans Receivable, Net
105,892 
44,192 
Commercial Land [Member]
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
Current Loans
142,034 
42,818 
30 - 59 Days Past Due
0 
311 
60 - 89 Days Past Due
358 
122 
Total Past Due
358 
433 
Nonaccrual Loans
442 
4,076 
Loans Receivable, Net
142,834 
47,327 
Owner Occupied [Member]
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
Current Loans
749,561 
387,525 
30 - 59 Days Past Due
4,714 
1,040 
60 - 89 Days Past Due
0 
0 
Total Past Due
4,714 
1,040 
Nonaccrual Loans
6,334 
6,608 
Loans Receivable, Net
760,609 
395,173 
Land And Acquisition [Member]
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
Current Loans
8,225 
15,412 
30 - 59 Days Past Due
199 
0 
60 - 89 Days Past Due
0 
0 
Total Past Due
199 
0 
Nonaccrual Loans
3,246 
3,084 
Loans Receivable, Net
11,670 
18,496 
Residential Construction [Member]
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
Current Loans
41,533 
29,848 
30 - 59 Days Past Due
0 
0 
60 - 89 Days Past Due
0 
0 
Total Past Due
0 
0 
Nonaccrual Loans
459 
1,816 
Loans Receivable, Net
41,992 
31,664 
Income Property Multifamily [Member]
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
Current Loans
1,138,732 
603,339 
30 - 59 Days Past Due
144 
2,726 
60 - 89 Days Past Due
3,289 
227 
Total Past Due
3,433 
2,953 
Nonaccrual Loans
4,267 
8,520 
Loans Receivable, Net
1,146,432 
614,812 
Owner Occupied Construction [Member]
 
 
Financing Receivable, Recorded Investment, Past Due [Line Items]
 
 
Current Loans
38,916 
36,211 
30 - 59 Days Past Due
0 
0 
60 - 89 Days Past Due
0 
0 
Total Past Due
0 
0 
Nonaccrual Loans
0 
0 
Loans Receivable, Net
$ 38,916 
$ 36,211 
Noncovered Loans (Analysis of Impaired Loans) (Details) (Noncovered Loans [Member], USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Recorded Investment of Loans Collectively Measured for Contingency Provision
$ 4,193,062 
$ 2,491,049 
 
Recorded Investment of Loans Individually Measured for Specific Impairment
26,389 
34,661 
 
Recorded Investment
23 
0 
 
Unpaid Principal Balance
27 
0 
 
Related Allowance
4 
0 
 
Impaired Financing Receivable, Average Recorded Investment
32,039 
47,524 
71,060 
Impaired Financing Receivable, Interest Income, Accrual Method
1,306 
1,114 
719 
Income Property Multifamily Construction [Member]
 
 
 
Recorded Investment of Loans Collectively Measured for Contingency Provision
86,521 
28,342 
 
Recorded Investment of Loans Individually Measured for Specific Impairment
0 
0 
 
Recorded Investment
0 
0 
 
Unpaid Principal Balance
0 
0 
 
Related Allowance
0 
0 
 
Impaired Financing Receivable, Average Recorded Investment
0 
3,169 
7,065 
Impaired Financing Receivable, Interest Income, Accrual Method
0 
0 
0 
Consumer Portfolio Segment [Member]
 
 
 
Recorded Investment of Loans Collectively Measured for Contingency Provision
328,167 
157,472 
 
Recorded Investment of Loans Individually Measured for Specific Impairment
167 
127 
 
Impaired Financing Receivable, Average Recorded Investment
253 
1,112 
3,880 
Impaired Financing Receivable, Interest Income, Accrual Method
6 
7 
15 
Land And Acquisition [Member]
 
 
 
Recorded Investment of Loans Collectively Measured for Contingency Provision
9,726 
15,677 
 
Recorded Investment of Loans Individually Measured for Specific Impairment
1,944 
2,819 
 
Recorded Investment
113 
0 
 
Unpaid Principal Balance
113 
0 
 
Related Allowance
71 
0 
 
Impaired Financing Receivable, Average Recorded Investment
2,624 
4,465 
8,972 
Impaired Financing Receivable, Interest Income, Accrual Method
6 
0 
116 
Residential Construction [Member]
 
 
 
Recorded Investment of Loans Collectively Measured for Contingency Provision
41,992 
29,707 
 
Recorded Investment of Loans Individually Measured for Specific Impairment
0 
1,957 
 
Recorded Investment
0 
0 
 
Unpaid Principal Balance
0 
0 
 
Related Allowance
0 
0 
 
Impaired Financing Receivable, Average Recorded Investment
420 
3,223 
4,535 
Impaired Financing Receivable, Interest Income, Accrual Method
0 
11 
0 
Commercial Land [Member]
 
 
 
Recorded Investment of Loans Collectively Measured for Contingency Provision
142,719 
44,672 
 
Recorded Investment of Loans Individually Measured for Specific Impairment
115 
2,655 
 
Recorded Investment
0 
0 
 
Unpaid Principal Balance
0 
0 
 
Related Allowance
0 
0 
 
Impaired Financing Receivable, Average Recorded Investment
1,691 
3,124 
4,263 
Impaired Financing Receivable, Interest Income, Accrual Method
0 
0 
0 
Income Property Multifamily [Member]
 
 
 
Recorded Investment of Loans Collectively Measured for Contingency Provision
1,140,019 
606,656 
 
Recorded Investment of Loans Individually Measured for Specific Impairment
6,413 
8,156 
 
Recorded Investment
918 
2,670 
 
Unpaid Principal Balance
933 
2,727 
 
Related Allowance
26 
1,040 
 
Impaired Financing Receivable, Average Recorded Investment
8,910 
7,895 
8,881 
Impaired Financing Receivable, Interest Income, Accrual Method
238 
77 
59 
Owner Occupied [Member]
 
 
 
Recorded Investment of Loans Collectively Measured for Contingency Provision
749,601 
383,269 
 
Recorded Investment of Loans Individually Measured for Specific Impairment
11,008 
11,904 
 
Recorded Investment
3,802 
608 
 
Unpaid Principal Balance
3,817 
610 
 
Related Allowance
1,073 
38 
 
Impaired Financing Receivable, Average Recorded Investment
10,779 
13,315 
15,254 
Impaired Financing Receivable, Interest Income, Accrual Method
971 
1,004 
18 
Owner Occupied Construction [Member]
 
 
 
Recorded Investment of Loans Collectively Measured for Contingency Provision
38,916 
36,211 
 
Recorded Investment of Loans Individually Measured for Specific Impairment
0 
0 
 
Recorded Investment
0 
0 
 
Unpaid Principal Balance
0 
0 
 
Related Allowance
0 
0 
 
One-to-Four Family Residential [Member]
 
 
 
Recorded Investment of Loans Collectively Measured for Contingency Provision
104,272 
42,103 
 
Recorded Investment of Loans Individually Measured for Specific Impairment
1,620 
2,089 
 
Recorded Investment
442 
345 
 
Unpaid Principal Balance
479 
364 
 
Related Allowance
138 
112 
 
Impaired Financing Receivable, Average Recorded Investment
1,665 
2,130 
2,494 
Impaired Financing Receivable, Interest Income, Accrual Method
63 
0 
0 
Secured Loans [Member]
 
 
 
Recorded Investment of Loans Collectively Measured for Contingency Provision
1,478,560 
1,101,689 
 
Recorded Investment of Loans Individually Measured for Specific Impairment
5,087 
4,862 
 
Recorded Investment
2,866 
690 
 
Unpaid Principal Balance
2,885 
1,994 
 
Related Allowance
343 
113 
 
Impaired Financing Receivable, Average Recorded Investment
5,636 
8,978 
15,578 
Impaired Financing Receivable, Interest Income, Accrual Method
19 
9 
511 
Unsecured Loans [Member]
 
 
 
Recorded Investment of Loans Collectively Measured for Contingency Provision
72,569 
45,251 
 
Recorded Investment of Loans Individually Measured for Specific Impairment
35 
92 
 
Recorded Investment
35 
92 
 
Unpaid Principal Balance
35 
92 
 
Related Allowance
35 
92 
 
Impaired Financing Receivable, Average Recorded Investment
61 
113 
138 
Impaired Financing Receivable, Interest Income, Accrual Method
3 
6 
0 
Impaired Loans Without Recorded Allowance [Member]
 
 
 
Recorded Investment
18,190 
30,256 
 
Unpaid Principal Balance
26,223 
44,410 
 
Impaired Loans With Recorded Allowance [Member]
 
 
 
Recorded Investment
8,199 
4,405 
 
Unpaid Principal Balance
8,289 
5,787 
 
Related Allowance
1,690 
1,395 
 
Impaired Loans Without Recorded Allowance [Member]
 
 
 
Recorded Investment
144 
127 
 
Unpaid Principal Balance
210 
127 
 
Impaired Loans Without Recorded Allowance [Member] |
Income Property Multifamily Construction [Member]
 
 
 
Recorded Investment
0 
0 
 
Unpaid Principal Balance
0 
0 
 
Impaired Loans Without Recorded Allowance [Member] |
Land And Acquisition [Member]
 
 
 
Recorded Investment
1,831 
2,819 
 
Unpaid Principal Balance
2,587 
4,813 
 
Impaired Loans Without Recorded Allowance [Member] |
Residential Construction [Member]
 
 
 
Recorded Investment
0 
1,957 
 
Unpaid Principal Balance
0 
2,570 
 
Impaired Loans Without Recorded Allowance [Member] |
Commercial Land [Member]
 
 
 
Recorded Investment
115 
2,655 
 
Unpaid Principal Balance
398 
5,727 
 
Impaired Loans Without Recorded Allowance [Member] |
Income Property Multifamily [Member]
 
 
 
Recorded Investment
5,495 
5,486 
 
Unpaid Principal Balance
7,885 
7,860 
 
Impaired Loans Without Recorded Allowance [Member] |
Owner Occupied [Member]
 
 
 
Recorded Investment
7,206 
11,296 
 
Unpaid Principal Balance
10,464 
14,642 
 
Impaired Loans Without Recorded Allowance [Member] |
Owner Occupied Construction [Member]
 
 
 
Recorded Investment
0 
0 
 
Unpaid Principal Balance
0 
0 
 
Impaired Loans Without Recorded Allowance [Member] |
One-to-Four Family Residential [Member]
 
 
 
Recorded Investment
1,178 
1,744 
 
Unpaid Principal Balance
2,119 
1,902 
 
Impaired Loans Without Recorded Allowance [Member] |
Secured Loans [Member]
 
 
 
Recorded Investment
2,221 
4,172 
 
Unpaid Principal Balance
2,560 
6,769 
 
Impaired Loans Without Recorded Allowance [Member] |
Unsecured Loans [Member]
 
 
 
Recorded Investment
0 
0 
 
Unpaid Principal Balance
$ 0 
$ 0 
 
Noncovered Loans Noncovered Loans (Analysis of Troubled Debt Restructurings) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
contract
Dec. 31, 2012
contract
Dec. 31, 2011
contract
Financing Receivable, Modifications [Line Items]
 
 
 
Financing Receivable Modifications Additional Commitment To Lend
$ 0 
$ 236 
 
Financing Receivable, Modifications, Subsequent Default, Number of Contracts
0 
0 
0 
Noncovered Loans [Member]
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
Financing Receivable, Modifications, Number of Contracts
12 
2 
10 
Pre-Modification Outstanding Recorded Investment
1,968 
4,474 
2,344 
Post-Modification Outstanding Recorded Investment
1,968 
2,844 
2,344 
Noncovered Loans [Member] |
Secured Loans [Member]
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
Financing Receivable, Modifications, Number of Contracts
2 
1 
6 
Pre-Modification Outstanding Recorded Investment
190 
195 
659 
Post-Modification Outstanding Recorded Investment
190 
194 
659 
Noncovered Loans [Member] |
One-to-Four Family Residential [Member]
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
Financing Receivable, Modifications, Number of Contracts
1 
0 
1 
Pre-Modification Outstanding Recorded Investment
113 
0 
369 
Post-Modification Outstanding Recorded Investment
113 
0 
369 
Noncovered Loans [Member] |
Commercial Land [Member]
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
Financing Receivable, Modifications, Number of Contracts
1 
0 
0 
Pre-Modification Outstanding Recorded Investment
137 
0 
0 
Post-Modification Outstanding Recorded Investment
137 
0 
0 
Noncovered Loans [Member] |
Income Property Multifamily [Member]
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
Financing Receivable, Modifications, Number of Contracts
4 
1 
2 
Pre-Modification Outstanding Recorded Investment
1,186 
4,279 
1,280 
Post-Modification Outstanding Recorded Investment
1,186 
2,650 
1,280 
Noncovered Loans [Member] |
Owner Occupied [Member]
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
Financing Receivable, Modifications, Number of Contracts
1 
0 
0 
Pre-Modification Outstanding Recorded Investment
172 
0 
0 
Post-Modification Outstanding Recorded Investment
172 
0 
0 
Noncovered Loans [Member] |
Land And Acquisition [Member]
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
Financing Receivable, Modifications, Number of Contracts
1 
0 
0 
Pre-Modification Outstanding Recorded Investment
117 
0 
0 
Post-Modification Outstanding Recorded Investment
117 
0 
0 
Noncovered Loans [Member] |
Residential Construction [Member]
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
Financing Receivable, Modifications, Number of Contracts
0 
0 
1 
Pre-Modification Outstanding Recorded Investment
0 
0 
36 
Post-Modification Outstanding Recorded Investment
0 
0 
36 
Noncovered Loans [Member] |
Consumer Portfolio Segment [Member]
 
 
 
Financing Receivable, Modifications [Line Items]
 
 
 
Financing Receivable, Modifications, Number of Contracts
2 
0 
0 
Pre-Modification Outstanding Recorded Investment
53 
0 
0 
Post-Modification Outstanding Recorded Investment
$ 53 
$ 0 
$ 0 
Allowance for Noncovered Loan and Lease Losses and Unfunded Commitments and Letters of Credit (Narrative) (Details) (Maximum [Member])
12 Months Ended
Dec. 31, 2013
Maximum [Member]
 
Accounts, Notes, Loans and Financing Receivable [Line Items]
 
Percentage of unallocated loan amount
5.00% 
Allowance for Noncovered Loan and Lease Losses and Unfunded Commitments and Letters of Credit (Allowance for Noncovered Loan and Lease Losses) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Allowance for Loan and Lease Losses [Roll Forward]
 
 
 
Provision (recapture) for loan and lease losses
$ (101)
$ 39,367 
$ 5,752 
Noncovered Loans [Member]
 
 
 
Allowance for Loan and Lease Losses [Roll Forward]
 
 
 
Balance at beginning of year
52,244 
53,041 
60,993 
Charge-offs
(10,088)
(20,429)
(20,931)
Recoveries
6,964 
6,157 
5,579 
Provision (recapture) for loan and lease losses
3,160 
13,475 
7,400 
Balance at the end of year
52,280 
52,244 
53,041 
Specific Reserve
1,690 
1,395 
1,484 
General Allocation
50,590 
50,849 
51,557 
Consumer Portfolio Segment [Member] |
Noncovered Loans [Member]
 
 
 
Allowance for Loan and Lease Losses [Roll Forward]
 
 
 
Balance at beginning of year
2,437 
2,719 
2,120 
Charge-offs
(2,242)
(2,534)
(3,918)
Recoveries
552 
1,171 
351 
Provision (recapture) for loan and lease losses
1,800 
1,081 
4,166 
Balance at the end of year
2,547 
2,437 
2,719 
Specific Reserve
4 
0 
30 
General Allocation
2,543 
2,437 
2,689 
Unallocated Financing Receivables [Member] |
Noncovered Loans [Member]
 
 
 
Allowance for Loan and Lease Losses [Roll Forward]
 
 
 
Balance at beginning of year
1,011 
694 
3,283 
Charge-offs
0 
0 
0 
Recoveries
0 
0 
0 
Provision (recapture) for loan and lease losses
644 
317 
(2,589)
Balance at the end of year
1,655 
1,011 
694 
Specific Reserve
0 
0 
0 
General Allocation
1,655 
1,011 
694 
Secured Loans [Member] |
Noncovered Loans [Member]
 
 
 
Allowance for Loan and Lease Losses [Roll Forward]
 
 
 
Balance at beginning of year
27,270 
24,745 
21,811 
Charge-offs
(4,148)
(10,029)
(7,270)
Recoveries
1,512 
1,354 
1,154 
Provision (recapture) for loan and lease losses
6,393 
11,200 
9,050 
Balance at the end of year
31,027 
27,270 
24,745 
Specific Reserve
343 
113 
954 
General Allocation
30,684 
27,157 
23,791 
Unsecured Loans [Member] |
Noncovered Loans [Member]
 
 
 
Allowance for Loan and Lease Losses [Roll Forward]
 
 
 
Balance at beginning of year
753 
689 
738 
Charge-offs
(794)
(144)
(639)
Recoveries
932 
194 
1,444 
Provision (recapture) for loan and lease losses
(195)
14 
(854)
Balance at the end of year
696 
753 
689 
Specific Reserve
35 
92 
97 
General Allocation
661 
661 
592 
One-to-Four Family Residential [Member] |
Noncovered Loans [Member]
 
 
 
Allowance for Loan and Lease Losses [Roll Forward]
 
 
 
Balance at beginning of year
694 
654 
1,100 
Charge-offs
(228)
(549)
(717)
Recoveries
270 
285 
80 
Provision (recapture) for loan and lease losses
516 
304 
191 
Balance at the end of year
1,252 
694 
654 
Specific Reserve
138 
112 
96 
General Allocation
1,114 
582 
558 
Commercial Land [Member] |
Noncovered Loans [Member]
 
 
 
Allowance for Loan and Lease Losses [Roll Forward]
 
 
 
Balance at beginning of year
460 
488 
634 
Charge-offs
(20)
(526)
(660)
Recoveries
169 
63 
12 
Provision (recapture) for loan and lease losses
(120)
435 
502 
Balance at the end of year
489 
460 
488 
Specific Reserve
0 
0 
0 
General Allocation
489 
460 
488 
Income Property Multifamily [Member] |
Noncovered Loans [Member]
 
 
 
Allowance for Loan and Lease Losses [Roll Forward]
 
 
 
Balance at beginning of year
11,033 
9,551 
15,210 
Charge-offs
(1,405)
(4,030)
(1,407)
Recoveries
489 
905 
414 
Provision (recapture) for loan and lease losses
(883)
4,607 
(4,666)
Balance at the end of year
9,234 
11,033 
9,551 
Specific Reserve
26 
1,040 
63 
General Allocation
9,208 
9,993 
9,488 
Owner Occupied [Member] |
Noncovered Loans [Member]
 
 
 
Allowance for Loan and Lease Losses [Roll Forward]
 
 
 
Balance at beginning of year
6,362 
9,606 
9,692 
Charge-offs
(1,118)
(918)
(1,620)
Recoveries
375 
631 
33 
Provision (recapture) for loan and lease losses
(2,014)
(2,957)
1,501 
Balance at the end of year
3,605 
6,362 
9,606 
Specific Reserve
1,073 
38 
185 
General Allocation
2,532 
6,324 
9,421 
Land And Acquisition [Member] |
Noncovered Loans [Member]
 
 
 
Allowance for Loan and Lease Losses [Roll Forward]
 
 
 
Balance at beginning of year
1,171 
2,331 
3,769 
Charge-offs
(32)
(989)
(1,419)
Recoveries
2,553 
1,059 
1,978 
Provision (recapture) for loan and lease losses
(3,082)
(1,230)
(1,997)
Balance at the end of year
610 
1,171 
2,331 
Specific Reserve
71 
0 
0 
General Allocation
539 
1,171 
2,331 
Residential Construction [Member] |
Noncovered Loans [Member]
 
 
 
Allowance for Loan and Lease Losses [Roll Forward]
 
 
 
Balance at beginning of year
635 
864 
2,292 
Charge-offs
(101)
(617)
(1,068)
Recoveries
112 
429 
113 
Provision (recapture) for loan and lease losses
176 
(41)
(473)
Balance at the end of year
822 
635 
864 
Specific Reserve
0 
0 
59 
General Allocation
822 
635 
805 
Income Property Multifamily Construction [Member] |
Noncovered Loans [Member]
 
 
 
Allowance for Loan and Lease Losses [Roll Forward]
 
 
 
Balance at beginning of year
316 
665 
274 
Charge-offs
0 
(93)
(2,213)
Recoveries
0 
66 
0 
Provision (recapture) for loan and lease losses
(31)
(322)
2,604 
Balance at the end of year
285 
316 
665 
Specific Reserve
0 
0 
0 
General Allocation
285 
316 
665 
Owner Occupied Construction [Member] |
Noncovered Loans [Member]
 
 
 
Allowance for Loan and Lease Losses [Roll Forward]
 
 
 
Balance at beginning of year
102 
35 
70 
Charge-offs
0 
0 
0 
Recoveries
0 
0 
0 
Provision (recapture) for loan and lease losses
(44)
67 
(35)
Balance at the end of year
58 
102 
35 
Specific Reserve
0 
0 
0 
General Allocation
$ 58 
$ 102 
$ 35 
Allowance for Noncovered Loan and Lease Losses and Unfunded Commitments and Letters of Credit (Changes in the Allowance for Unfunded Commitments and Letters of Credit) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Allowance For Loan And Lease Losses And Unfunded Loan Commitments And Letters Of Credit
 
 
 
Beginning balance
$ 1,915 
$ 1,535 
$ 1,165 
Net changes in the allowance for unfunded commitments and letters of credit
590 
380 
370 
Ending balance
$ 2,505 
$ 1,915 
$ 1,535 
Allowance for Noncovered Loan and Lease Losses and Unfunded Commitments and Letters of Credit (Analysis of Credit Quality of Noncovered Loan Portfolio) (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans, net
$ 4,444,842 
$ 2,864,803 
 
 
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
4,219,451 
2,525,710 
 
 
Loans and Leases Receivable, Allowance
52,280 
52,244 
53,041 
60,993 
Loans, net
4,167,171 
2,473,466 
 
 
Pass [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
4,027,764 
2,336,039 
 
 
Special Mention [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
53,231 
37,758 
 
 
Substandard [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
137,989 
151,913 
 
 
Doubtful [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
467 
0 
 
 
Unlikely to be Collected Financing Receivable [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Secured Loans [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
1,483,647 
1,106,551 
 
 
Loans and Leases Receivable, Allowance
31,027 
27,270 
24,745 
21,811 
Secured Loans [Member] |
Pass [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
1,372,038 
1,011,722 
 
 
Secured Loans [Member] |
Special Mention [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
43,309 
29,222 
 
 
Secured Loans [Member] |
Substandard [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
68,300 
65,607 
 
 
Secured Loans [Member] |
Doubtful [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Secured Loans [Member] |
Unlikely to be Collected Financing Receivable [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Income Property Multifamily Construction [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
86,521 
28,342 
 
 
Loans and Leases Receivable, Allowance
285 
316 
665 
274 
Income Property Multifamily Construction [Member] |
Pass [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
86,206 
28,342 
 
 
Income Property Multifamily Construction [Member] |
Special Mention [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Income Property Multifamily Construction [Member] |
Substandard [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
315 
0 
 
 
Income Property Multifamily Construction [Member] |
Doubtful [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Income Property Multifamily Construction [Member] |
Unlikely to be Collected Financing Receivable [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Owner Occupied Construction [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
38,916 
36,211 
 
 
Loans and Leases Receivable, Allowance
58 
102 
35 
70 
Owner Occupied Construction [Member] |
Pass [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
38,916 
36,211 
 
 
Owner Occupied Construction [Member] |
Special Mention [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Owner Occupied Construction [Member] |
Substandard [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Owner Occupied Construction [Member] |
Doubtful [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Owner Occupied Construction [Member] |
Unlikely to be Collected Financing Receivable [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Consumer Portfolio Segment [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
328,334 
157,599 
 
 
Loans and Leases Receivable, Allowance
2,547 
2,437 
2,719 
2,120 
Consumer Portfolio Segment [Member] |
Pass [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
321,348 
151,049 
 
 
Consumer Portfolio Segment [Member] |
Special Mention [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
331 
75 
 
 
Consumer Portfolio Segment [Member] |
Substandard [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
6,188 
6,475 
 
 
Consumer Portfolio Segment [Member] |
Doubtful [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
467 
0 
 
 
Consumer Portfolio Segment [Member] |
Unlikely to be Collected Financing Receivable [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Unsecured Loans [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
72,604 
45,343 
 
 
Loans and Leases Receivable, Allowance
696 
753 
689 
738 
Unsecured Loans [Member] |
Pass [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
72,226 
44,788 
 
 
Unsecured Loans [Member] |
Special Mention [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
199 
26 
 
 
Unsecured Loans [Member] |
Substandard [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
179 
529 
 
 
Unsecured Loans [Member] |
Doubtful [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Unsecured Loans [Member] |
Unlikely to be Collected Financing Receivable [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
One-to-Four Family Residential [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
105,892 
44,192 
 
 
Loans and Leases Receivable, Allowance
1,252 
694 
654 
1,100 
One-to-Four Family Residential [Member] |
Pass [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
98,626 
40,346 
 
 
One-to-Four Family Residential [Member] |
Special Mention [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
1,567 
406 
 
 
One-to-Four Family Residential [Member] |
Substandard [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
5,699 
3,440 
 
 
One-to-Four Family Residential [Member] |
Doubtful [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
One-to-Four Family Residential [Member] |
Unlikely to be Collected Financing Receivable [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Commercial Land [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
142,834 
47,327 
 
 
Loans and Leases Receivable, Allowance
489 
460 
488 
634 
Commercial Land [Member] |
Pass [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
137,850 
43,401 
 
 
Commercial Land [Member] |
Special Mention [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Commercial Land [Member] |
Substandard [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
4,984 
3,926 
 
 
Commercial Land [Member] |
Doubtful [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Commercial Land [Member] |
Unlikely to be Collected Financing Receivable [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Income Property Multifamily [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
1,146,432 
614,812 
 
 
Loans and Leases Receivable, Allowance
9,234 
11,033 
9,551 
15,210 
Income Property Multifamily [Member] |
Pass [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
1,108,033 
581,671 
 
 
Income Property Multifamily [Member] |
Special Mention [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
5,473 
3,688 
 
 
Income Property Multifamily [Member] |
Substandard [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
32,926 
29,453 
 
 
Income Property Multifamily [Member] |
Doubtful [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Income Property Multifamily [Member] |
Unlikely to be Collected Financing Receivable [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Owner Occupied [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
760,609 
395,173 
 
 
Loans and Leases Receivable, Allowance
3,605 
6,362 
9,606 
9,692 
Owner Occupied [Member] |
Pass [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
748,725 
357,063 
 
 
Owner Occupied [Member] |
Special Mention [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
1,848 
 
 
Owner Occupied [Member] |
Substandard [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
11,884 
36,262 
 
 
Owner Occupied [Member] |
Doubtful [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Owner Occupied [Member] |
Unlikely to be Collected Financing Receivable [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Land And Acquisition [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
11,670 
18,496 
 
 
Loans and Leases Receivable, Allowance
610 
1,171 
2,331 
3,769 
Land And Acquisition [Member] |
Pass [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
7,526 
12,741 
 
 
Land And Acquisition [Member] |
Special Mention [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
1,351 
 
 
Land And Acquisition [Member] |
Substandard [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
4,144 
4,404 
 
 
Land And Acquisition [Member] |
Doubtful [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Land And Acquisition [Member] |
Unlikely to be Collected Financing Receivable [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Residential Construction [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
41,992 
31,664 
 
 
Loans and Leases Receivable, Allowance
822 
635 
864 
2,292 
Residential Construction [Member] |
Pass [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
36,270 
28,705 
 
 
Residential Construction [Member] |
Special Mention [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
2,352 
1,142 
 
 
Residential Construction [Member] |
Substandard [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
3,370 
1,817 
 
 
Residential Construction [Member] |
Doubtful [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Residential Construction [Member] |
Unlikely to be Collected Financing Receivable [Member] |
Noncovered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
$ 0 
$ 0 
 
 
Noncovered Other Real Estate Owned (Summary of Noncovered Other Real Estate Owned) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Other Real Estate Owned [Line Items]
 
 
 
Other Real Estate Owned, established through acquisition
$ 14,708 
$ 0 
 
Balance, beginning of period
26,987 
 
 
Proceeds from sale of OREO property
(14,407)
(15,689)
(12,278)
Net realized gain on sale of other real estate owned
10,539 
11,634 
9,310 
Balance, end of period
35,927 
26,987 
 
Noncovered Loans [Member]
 
 
 
Other Real Estate Owned [Line Items]
 
 
 
Balance, beginning of period
10,676 
22,893 
 
Transfers in, net of write-downs ($90 and $205, respectively)
9,273 
7,461 
 
Other Real Estate Owned, additions and improvements
3,577 
11 
 
Writedowns Previously Recorded On Transfer In Of Real Estate Acquired Through Foreclosure
90 
205 
 
Additional OREO write-downs
(1,753)
(4,816)
 
Proceeds from sale of OREO property
(13,903)
(15,689)
 
Net realized gain on sale of other real estate owned
1,256 
816 
 
Balance, end of period
$ 23,834 
$ 10,676 
 
Covered Assets and FDIC Loss-sharing Asset (Narrative) (Details) (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Covered Assets And FDIC Loss Sharing Asset [Line Items]
 
 
 
Payment Of Clawback If Losses Less Than Stated Levels, Period After Acquisition
10 years 45 days 
 
 
Amount of estimated clawback liability
$ 3,900,000 
$ 3,600,000 
 
Provision (recapture) for loan and lease losses
(101,000)
39,367,000 
5,752,000 
Federal deposit insurance corporation loss-sharing indemnified assets
37,900,000 
87,700,000 
 
Federal deposit insurance corporation loss-sharing indemnified assets receivable
2,000,000 
8,600,000 
 
Maximum [Member]
 
 
 
Covered Assets And FDIC Loss Sharing Asset [Line Items]
 
 
 
Loss Recovery Provision Effective Years
10 years 
 
 
Loss Sharing Agreement Effective Years
10 years 
 
 
Minimum [Member]
 
 
 
Covered Assets And FDIC Loss Sharing Asset [Line Items]
 
 
 
Loss Recovery Provision Effective Years
8 years 
 
 
Loss Sharing Agreement Effective Years
5 years 
 
 
Covered Loans [Member]
 
 
 
Covered Assets And FDIC Loss Sharing Asset [Line Items]
 
 
 
Percentage of loss shared by FDIC When Loss Share Thresholds Met
 
95.00% 
 
Percentage of loss shared by FDIC
80.00% 
 
 
FDIC Percentage Of Loss Recoveries
80.00% 
95.00% 
 
Provision (recapture) for loan and lease losses
(3,261,000)
25,892,000 
(1,648,000)
Impairment expenses
1,700,000 
 
 
Negative provision to adjust allowance for loss
$ 1,600,000 
 
 
Covered Assets and FDIC Loss-sharing Asset (Analysis and Allowance for Losses on Covered Loans) (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Covered Assets And FDIC Loss Sharing Asset [Line Items]
 
 
 
 
Loans, net
$ 4,444,842 
$ 2,864,803 
 
 
Covered Loans [Member]
 
 
 
 
Covered Assets And FDIC Loss Sharing Asset [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
341,142 
500,794 
 
 
Allowance for losses
20,174 
30,056 
4,944 
6,055 
Valuation discount resulting from acquisition accounting
43,297 
79,401 
 
 
Loans, net
277,671 
391,337 
 
 
Covered Loans [Member] |
Commercial Portfolio Segment [Member]
 
 
 
 
Covered Assets And FDIC Loss Sharing Asset [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
72,870 
125,373 
 
 
Covered Loans [Member] |
Real Estate Portfolio Segment [Member]
 
 
 
 
Covered Assets And FDIC Loss Sharing Asset [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
212,521 
290,256 
 
 
Covered Loans [Member] |
Real Estate Construction Portfolio Segment [Member]
 
 
 
 
Covered Assets And FDIC Loss Sharing Asset [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
21,650 
40,649 
 
 
Covered Loans [Member] |
Consumer Portfolio Segment [Member]
 
 
 
 
Covered Assets And FDIC Loss Sharing Asset [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
34,101 
44,516 
 
 
Covered Loans [Member] |
One-to-Four Family Residential [Member]
 
 
 
 
Covered Assets And FDIC Loss Sharing Asset [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
41,642 
57,150 
 
 
Covered Loans [Member] |
One-to-Four Family Residential Construction [Member]
 
 
 
 
Covered Assets And FDIC Loss Sharing Asset [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
14,781 
25,398 
 
 
Covered Loans [Member] |
Commercial and Multifamily Residential [Member]
 
 
 
 
Covered Assets And FDIC Loss Sharing Asset [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
170,879 
233,106 
 
 
Covered Loans [Member] |
Commercial and Multifamily Residential Construction [Member]
 
 
 
 
Covered Assets And FDIC Loss Sharing Asset [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
$ 6,869 
$ 15,251 
 
 
Covered Assets and FDIC Loss-sharing Asset (Changes in Accretable Yield for Acquired Loans) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Covered Assets And FDIC Loss Sharing Asset
 
 
 
Balance at beginning of period
$ 166,888 
$ 259,669 
$ 256,572 
Additions resulting from acquisitions
0 
0 
59,810 
Accretion
(51,816)
(86,671)
(90,378)
Disposals
(6,898)
(12,856)
(31,483)
Reclassifications from nonaccretable difference
(4,267)
6,746 
65,148 
Balance at end of period
$ 103,907 
$ 166,888 
$ 259,669 
Covered Assets and FDIC Loss-sharing Asset Covered Assets and FDIC Loss-sharing Asset (Changes in Allowance for Covered Loans) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Financing Receivable, Allowance for Credit Losses [Line Items]
 
 
 
Provision (recapture) for loan and lease losses
$ (101)
$ 39,367 
$ 5,752 
Covered Loans [Member]
 
 
 
Financing Receivable, Allowance for Credit Losses [Line Items]
 
 
 
Balance at beginning of year
30,056 
4,944 
6,055 
Loans charged off
(13,853)
(5,112)
(1,488)
Recoveries
(7,232)
(4,332)
(2,025)
Provision (recapture) for loan and lease losses
(3,261)
25,892 
(1,648)
Balance at the end of year
$ 20,174 
$ 30,056 
$ 4,944 
Covered Assets and FDIC Loss-sharing Asset (Covered OREO at Carrying Value) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Covered Assets And FDIC Loss Sharing Asset [Line Items]
 
 
Balance, end of period
$ 35,927 
$ 26,987 
Covered Loans [Member]
 
 
Covered Assets And FDIC Loss Sharing Asset [Line Items]
 
 
Balance, beginning of period
16,311 
28,126 
Transfers in
8,827 
14,166 
Additional OREO write-downs
(282)
(3,484)
Proceeds from sale of OREO property
(22,046)
(33,315)
Gain on sale of OREO
9,283 
10,818 
Balance, end of period
$ 12,093 
$ 16,311 
Covered Assets and FDIC Loss-sharing Asset (FDIC Loss-sharing Asset) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Covered Assets And FDIC Loss Sharing Asset [Line Items]
 
 
FDIC Loss-sharing Asset, Write-downs of Other Real Estate
$ 364 
$ 5,190 
FDIC Loss-sharing Asset [Member]
 
 
Covered Assets And FDIC Loss Sharing Asset [Line Items]
 
 
Balance at beginning of period
96,354 
175,071 
Cash received from the FDIC
(9,246)
(54,649)
FDIC reimbursable losses, net
(2,245)
399 
Amortization, net
(36,729)
(42,940)
Impairment
(2,609)
20,714 
Sale of other real estate
(6,177)
(7,789)
Other
134 
358 
Balance at end of period
$ 39,846 
$ 96,354 
Covered Assets and FDIC Loss-sharing Asset Coverd Assets Credit Quality Indicators (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Net Reported Amount
$ 4,444,842 
$ 2,864,803 
 
 
Covered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
341,142 
500,794 
 
 
Valuation discount resulting from acquisition accounting
43,297 
79,401 
 
 
Loans and Leases Receivable, Allowance
20,174 
30,056 
4,944 
6,055 
Loans and Leases Receivable, Net Reported Amount
277,671 
391,337 
 
 
Covered Loans [Member] |
Pass [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
264,008 
356,520 
 
 
Covered Loans [Member] |
Special Mention [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
12,118 
11,003 
 
 
Covered Loans [Member] |
Substandard [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
64,989 
133,271 
 
 
Covered Loans [Member] |
Doubtful [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
27 
0 
 
 
Covered Loans [Member] |
Unlikely to be Collected Financing Receivable [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Real Estate Portfolio Segment [Member] |
Covered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
212,521 
290,256 
 
 
Real Estate Construction Portfolio Segment [Member] |
Covered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
21,650 
40,649 
 
 
Consumer Portfolio Segment [Member] |
Covered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
34,101 
44,516 
 
 
Consumer Portfolio Segment [Member] |
Covered Loans [Member] |
Pass [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
30,722 
38,973 
 
 
Consumer Portfolio Segment [Member] |
Covered Loans [Member] |
Special Mention [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
33 
381 
 
 
Consumer Portfolio Segment [Member] |
Covered Loans [Member] |
Substandard [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
3,319 
5,162 
 
 
Consumer Portfolio Segment [Member] |
Covered Loans [Member] |
Doubtful [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
27 
0 
 
 
Consumer Portfolio Segment [Member] |
Covered Loans [Member] |
Unlikely to be Collected Financing Receivable [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Secured Loans [Member] |
Covered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
69,650 
118,594 
 
 
Secured Loans [Member] |
Covered Loans [Member] |
Pass [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
48,510 
71,621 
 
 
Secured Loans [Member] |
Covered Loans [Member] |
Special Mention [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
2,849 
1,823 
 
 
Secured Loans [Member] |
Covered Loans [Member] |
Substandard [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
18,291 
45,150 
 
 
Secured Loans [Member] |
Covered Loans [Member] |
Doubtful [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Secured Loans [Member] |
Covered Loans [Member] |
Unlikely to be Collected Financing Receivable [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Unsecured Loans [Member] |
Covered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
3,220 
6,779 
 
 
Unsecured Loans [Member] |
Covered Loans [Member] |
Pass [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
2,732 
4,988 
 
 
Unsecured Loans [Member] |
Covered Loans [Member] |
Special Mention [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
396 
0 
 
 
Unsecured Loans [Member] |
Covered Loans [Member] |
Substandard [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
92 
1,791 
 
 
Unsecured Loans [Member] |
Covered Loans [Member] |
Doubtful [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Unsecured Loans [Member] |
Covered Loans [Member] |
Unlikely to be Collected Financing Receivable [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
One-to-Four Family Residential [Member] |
Covered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
41,642 
57,150 
 
 
One-to-Four Family Residential [Member] |
Covered Loans [Member] |
Pass [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
35,066 
44,782 
 
 
One-to-Four Family Residential [Member] |
Covered Loans [Member] |
Special Mention [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
1,842 
1,344 
 
 
One-to-Four Family Residential [Member] |
Covered Loans [Member] |
Substandard [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
4,734 
11,024 
 
 
One-to-Four Family Residential [Member] |
Covered Loans [Member] |
Doubtful [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
One-to-Four Family Residential [Member] |
Covered Loans [Member] |
Unlikely to be Collected Financing Receivable [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Commercial Land [Member] |
Covered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
18,565 
26,628 
 
 
Commercial Land [Member] |
Covered Loans [Member] |
Pass [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
10,778 
16,336 
 
 
Commercial Land [Member] |
Covered Loans [Member] |
Special Mention [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
198 
0 
 
 
Commercial Land [Member] |
Covered Loans [Member] |
Substandard [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
7,589 
10,292 
 
 
Commercial Land [Member] |
Covered Loans [Member] |
Doubtful [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Commercial Land [Member] |
Covered Loans [Member] |
Unlikely to be Collected Financing Receivable [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Income Property Multifamily [Member] |
Covered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
70,592 
105,384 
 
 
Income Property Multifamily [Member] |
Covered Loans [Member] |
Pass [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
55,985 
81,205 
 
 
Income Property Multifamily [Member] |
Covered Loans [Member] |
Special Mention [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
3,950 
864 
 
 
Income Property Multifamily [Member] |
Covered Loans [Member] |
Substandard [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
10,657 
23,315 
 
 
Income Property Multifamily [Member] |
Covered Loans [Member] |
Doubtful [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Income Property Multifamily [Member] |
Covered Loans [Member] |
Unlikely to be Collected Financing Receivable [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Owner Occupied [Member] |
Covered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
81,722 
101,094 
 
 
Owner Occupied [Member] |
Covered Loans [Member] |
Pass [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
67,653 
82,222 
 
 
Owner Occupied [Member] |
Covered Loans [Member] |
Special Mention [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
111 
3,318 
 
 
Owner Occupied [Member] |
Covered Loans [Member] |
Substandard [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
13,958 
15,554 
 
 
Owner Occupied [Member] |
Covered Loans [Member] |
Doubtful [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Owner Occupied [Member] |
Covered Loans [Member] |
Unlikely to be Collected Financing Receivable [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Land And Acquisition [Member] |
Covered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
9,349 
13,833 
 
 
Land And Acquisition [Member] |
Covered Loans [Member] |
Pass [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
4,674 
4,817 
 
 
Land And Acquisition [Member] |
Covered Loans [Member] |
Special Mention [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
2,739 
3,273 
 
 
Land And Acquisition [Member] |
Covered Loans [Member] |
Substandard [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
1,936 
5,743 
 
 
Land And Acquisition [Member] |
Covered Loans [Member] |
Doubtful [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Land And Acquisition [Member] |
Covered Loans [Member] |
Unlikely to be Collected Financing Receivable [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Residential Construction [Member] |
Covered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
5,432 
11,565 
 
 
Residential Construction [Member] |
Covered Loans [Member] |
Pass [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
3,008 
6,050 
 
 
Residential Construction [Member] |
Covered Loans [Member] |
Special Mention [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Residential Construction [Member] |
Covered Loans [Member] |
Substandard [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
2,424 
5,515 
 
 
Residential Construction [Member] |
Covered Loans [Member] |
Doubtful [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Residential Construction [Member] |
Covered Loans [Member] |
Unlikely to be Collected Financing Receivable [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Income Property Multifamily Construction [Member] |
Covered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
5,515 
12,320 
 
 
Income Property Multifamily Construction [Member] |
Covered Loans [Member] |
Pass [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
3,806 
4,419 
 
 
Income Property Multifamily Construction [Member] |
Covered Loans [Member] |
Special Mention [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Income Property Multifamily Construction [Member] |
Covered Loans [Member] |
Substandard [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
1,709 
7,901 
 
 
Income Property Multifamily Construction [Member] |
Covered Loans [Member] |
Doubtful [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Income Property Multifamily Construction [Member] |
Covered Loans [Member] |
Unlikely to be Collected Financing Receivable [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Owner Occupied Construction [Member] |
Covered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
1,354 
2,931 
 
 
Owner Occupied Construction [Member] |
Covered Loans [Member] |
Pass [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
1,074 
1,107 
 
 
Owner Occupied Construction [Member] |
Covered Loans [Member] |
Special Mention [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Owner Occupied Construction [Member] |
Covered Loans [Member] |
Substandard [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
280 
1,824 
 
 
Owner Occupied Construction [Member] |
Covered Loans [Member] |
Doubtful [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Owner Occupied Construction [Member] |
Covered Loans [Member] |
Unlikely to be Collected Financing Receivable [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
0 
0 
 
 
Commercial Portfolio Segment [Member] |
Covered Loans [Member]
 
 
 
 
Financing Receivable, Recorded Investment [Line Items]
 
 
 
 
Loans and Leases Receivable, Gross, Carrying Amount
$ 72,870 
$ 125,373 
 
 
Premises and Equipment (Details) (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Property, Plant and Equipment [Line Items]
 
 
 
Property, Plant and Equipment, Gross
$ 205,625,000 
$ 164,863,000 
 
Less accumulated depreciation and amortization
(50,893,000)
(46,155,000)
 
Total
154,732,000 
118,708,000 
 
Depreciation and amortization expense
10,200,000 
6,300,000 
5,700,000 
Change in estimate, impact to net income
886,000 
 
 
Change in estimate, impact to earnings per share
0.02 
 
 
Land [Member]
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
Property, Plant and Equipment, Gross
48,992,000 
39,441,000 
 
Building [Member]
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
Property, Plant and Equipment, Gross
94,878,000 
84,407,000 
 
Leasehold Improvements [Member]
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
Property, Plant and Equipment, Gross
14,254,000 
2,684,000 
 
Furniture and Fixtures [Member]
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
Property, Plant and Equipment, Gross
29,465,000 
24,110,000 
 
Vehicles [Member]
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
Property, Plant and Equipment, Gross
546,000 
438,000 
 
Computer Software, Intangible Asset [Member]
 
 
 
Property, Plant and Equipment [Line Items]
 
 
 
Property, Plant and Equipment, Gross
$ 17,490,000 
$ 13,783,000 
 
Goodwill and Intangible Assets (Schedule of Goodwill and Intangible Assets) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Goodwill and Intangible Assets [Line Items]
 
 
 
Indefinite-Lived Intangible Assets (Excluding Goodwill)
$ 919 
$ 0 
$ 0 
Intangible Assets, Net (Excluding Goodwill)
25,852 
15,721 
20,166 
Goodwill and Intangible Assets [Roll Forward]
 
 
 
Total goodwill, beginning of period
115,554 
115,554 
109,639 
Established through acquisitions
228,398 
0 
5,915 
Total goodwill, end of period
343,952 
115,554 
115,554 
Core deposit intangible, net, beginning of period
15,721 
 
 
CDI current period amortization
(6,045)
(4,445)
(4,319)
Total core deposit intangible, end of period
25,852 
15,721 
 
Total goodwill and intangible assets, end of period
369,804 
131,275 
135,720 
Core Deposits [Member]
 
 
 
Goodwill and Intangible Assets [Roll Forward]
 
 
 
Gross core deposit intangible balance, beginning of period
32,441 
32,441 
26,652 
Accumulated amortization, beginning of period
(16,720)
(12,275)
(7,956)
Core deposit intangible, net, beginning of period
15,721 
20,166 
18,696 
Established through acquisitions
15,257 
0 
5,789 
CDI current period amortization
(6,045)
(4,445)
(4,319)
Total core deposit intangible, end of period
$ 24,933 
$ 15,721 
$ 20,166 
Estimated life of CDI, in years
10 years 
 
 
Goodwill and Intangible Assets (Summary of Estimated Future Amortization Expense of Core Deposit Intangibles) (Details) (Core Deposits [Member], USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Core Deposits [Member]
 
Future Amortization Expense For Core Deposit Intangibles
 
2014
$ 5,963 
2015
4,934 
2016
4,195 
2017
3,361 
2018
$ 2,500 
Deposits (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Deposits [Abstract]
 
 
Brokered money market accounts
$ 41,765 
$ 0 
Demand and other noninterest-bearing
2,171,703 
1,321,171 
Interest-bearing demand
1,170,006 
870,821 
Money market
1,569,261 
1,043,459 
Savings
496,444 
314,371 
Certificates of deposit less than $100,000
288,943 
252,544 
Total core deposits
5,696,357 
3,802,366 
Certificates of deposit greater than $100,000
201,498 
212,924 
Certificates of deposit insured by CDARS®
19,488 
26,720 
Subtotal
5,959,108 
4,042,010 
Deposits, Valuation Adjustment From Acquisition Accounting
367 
75 
Total deposits
5,959,475 
4,042,085 
Deposit Liabilities Reclassified as Loans Receivable
1,100 
528 
Time Deposits, Fiscal Year Maturity [Abstract]
 
 
2014
172,422 
 
2015
28,556 
 
2016
11,834 
 
2017
4,810 
 
2018
2,162 
 
Thereafter
106 
 
Total
$ 219,890 
 
Federal Home Loan Bank and Federal Reserve Bank Borrowings (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
FHLB Fixed Rate Advances, Maturities Summary [Abstract]
 
 
 
FHLB Fixed Rate Advances, Weighted Average Interest Rate, Within 1 year
0.23% 
 
 
FHLB Fixed Rate Advances, Amount, Within 1 year
$ 30,000 
 
 
Federal Home Loan Bank, Advances, Maturities Summary, Average Interest Rate, One To Five Years From Balance Sheet Date
5.66% 
 
 
FHLB Fixed Rate Advances, Over 1 through 5 years
1,000 
 
 
FHLB Fixed Rate Advances, Weighted Average Interest Rate, Due after 10 years
5.37% 
 
 
FHLB Fixed Rate Advances, Due after 10 years
5,000 
 
 
FHLB Fixed Rate Advances, Total Amount before valuation adjustment
36,000 
 
 
Valuation adjustment from acquisition accounting
606 
 
 
FHLB Fixed Rate Advances, Total Amount
36,606 
 
 
Federal Home Loan Bank, Advances, Activity for Year [Abstract]
 
 
 
FHLB Advances
36,606 
6,644 
119,009 
Average balance during the year
51,030 
100,337 
120,419 
Maximum month-end balance during the year
190,631 
118,967 
127,426 
Weighted average rate during the year
1.12% 
2.79% 
2.76% 
Weighted average rate at December 31
1.09% 
5.42% 
2.81% 
FHLB Advances, Collateral Pledged
1,075,389 
443,419 
 
FHLB Borrowing Capacity
1,037,159 
435,189 
 
Federal Reserve Bank, Advances, Collateral Pledged
85,452 
59,456 
 
Federal Reserve Bank borrowing capacity
85,452 
59,456 
 
Securities Investment [Member]
 
 
 
Federal Home Loan Bank, Advances, Activity for Year [Abstract]
 
 
 
Federal Reserve Bank, Advances, Collateral Pledged
40,210 
45,641 
 
Loans Receivable [Member]
 
 
 
Federal Home Loan Bank, Advances, Activity for Year [Abstract]
 
 
 
FHLB Advances, Collateral Pledged
1,075,389 
443,419 
 
Commercial Loan [Member]
 
 
 
Federal Home Loan Bank, Advances, Activity for Year [Abstract]
 
 
 
Federal Reserve Bank, Advances, Collateral Pledged
$ 45,242 
$ 13,815 
 
Other Borrowings (Details) (USD $)
Dec. 31, 2013
Dec. 31, 2012
Assets Sold under Agreements to Repurchase [Line Items]
 
 
Available-for-sale Securities Pledged as Collateral
$ 362,787,000 
$ 374,730,000 
Available-for-sale Securities [Member]
 
 
Assets Sold under Agreements to Repurchase [Line Items]
 
 
Assets Sold under Agreements to Repurchase, Carrying Amounts
 
25,000,000 
Assets Sold under Agreements to Repurchase, Interest Rate
 
1.88% 
Repurchase Agreements [Member]
 
 
Assets Sold under Agreements to Repurchase [Line Items]
 
 
Available-for-sale Securities Pledged as Collateral
$ 28,200,000 
 
Derivatives and Balance Sheet Offsetting (Details) (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2013
Not Designated as Hedging Instrument [Member]
Interest Rate Contracts [Member]
Dec. 31, 2012
Not Designated as Hedging Instrument [Member]
Interest Rate Contracts [Member]
Dec. 31, 2013
Not Designated as Hedging Instrument [Member]
Other Assets [Member]
Interest Rate Contracts [Member]
Dec. 31, 2012
Not Designated as Hedging Instrument [Member]
Other Assets [Member]
Interest Rate Contracts [Member]
Dec. 31, 2013
Not Designated as Hedging Instrument [Member]
Other Liabilities [Member]
Interest Rate Contracts [Member]
Dec. 31, 2012
Not Designated as Hedging Instrument [Member]
Other Liabilities [Member]
Interest Rate Contracts [Member]
Derivative [Line Items]
 
 
 
 
 
 
 
Derivative, Notional Amount
 
$ 179,500,000 
$ 177,000,000 
 
 
 
 
Derivative Asset, Fair Value, Gross Asset
 
 
 
9,044,000 
14,921,000 
 
 
Derivative Liability, Fair Value, Gross Liability
 
 
 
 
 
9,044,000 
14,921,000 
Gain (Loss) on Derivative Instruments, Net, Pretax
$ 0 
 
 
 
 
 
 
Derivatives and Balance Sheet Offsetting Balance Sheet Offsetting (Details) (USD $)
Dec. 31, 2013
Dec. 31, 2012
Balance Sheet Offsetting [Line Items]
 
 
Repurchase agreements, amounts offset in balance sheet
$ 0 
$ 0 
repurchase agreements, net amount presented in statement of financial position
25,000,000 
25,000,000 
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities
(25,000,000)
(25,000,000)
securities sold under agreements to repurchase, amount not offset
0 
0 
Interest Rate Contracts [Member]
 
 
Balance Sheet Offsetting [Line Items]
 
 
Derivative Assets, Gross Amounts Offset in the Balance Sheets
0 
0 
Derivative Asset
9,044,000 
14,921,000 
Derivative, Collateral, Obligation to Return Securities
0 
0 
Derivative Asset, Fair Value, Amount Not Offset Against Collateral
9,044 
14,921 
Derivative Liability, Gross Amounts Offset in Balance Sheets
0 
0 
Derivative Liability
9,044,000 
14,921,000 
Derivative, Collateral, Right to Reclaim Securities
(9,044,000)
(14,921,000)
Derivative Liability, Fair Value, Amount Not Offset Against Collateral
0 
0 
Not Designated as Hedging Instrument [Member] |
Other Assets [Member] |
Interest Rate Contracts [Member]
 
 
Balance Sheet Offsetting [Line Items]
 
 
Derivative Asset, Fair Value, Gross Asset
9,044,000 
14,921,000 
Not Designated as Hedging Instrument [Member] |
Other Liabilities [Member] |
Interest Rate Contracts [Member]
 
 
Balance Sheet Offsetting [Line Items]
 
 
Derivative Liability, Fair Value, Gross Liability
9,044,000 
14,921,000 
Available-for-sale Securities [Member]
 
 
Balance Sheet Offsetting [Line Items]
 
 
Assets Sold under Agreements to Repurchase, Carrying Amount
$ 25,000,000 
$ 25,000,000 
Employee Benefit Plans (Details) (USD $)
12 Months Ended
Dec. 31, 2013
period
Dec. 31, 2012
Dec. 31, 2011
Employee Benefit [Line Items]
 
 
 
Defined Benefit Plan, Business Combinations and Acquisitions, Benefit Obligation
$ 3,398,000 
$ 0 
 
Number of Look-back Period Under Employee Stock Purchase Plan
2 
 
 
Look-back Period Under Employee Stock Purchase Plan
6 months 
 
 
Discount On Common Stock Under Employee Stock Purchase Plan, Percent
10.00% 
 
 
Stock Issued During Period, Shares, Employee Stock Purchase Plans
32,598 
39,393 
39,989 
Stock Issued During Period, Value, Employee Stock Purchase Plan
686,000 
725,000 
690,000 
Shares Available For Purchase Under Employee Stock Purchase Plan
575,912 
 
 
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
 
 
 
Balance at beginning of year
11,616,000 
11,237,000 
 
Change in actuarial loss
2,212,000 
(80,000)
 
Benefit expense
1,880,000 
1,017,000 
 
Benefit payments
(2,683,000)
(558,000)
 
Balance at end of year
16,423,000 
11,616,000 
11,237,000 
Defined Contribution Pension [Member]
 
 
 
Employee Benefit [Line Items]
 
 
 
Deferred Compensation Arrangement with Individual, Service Period
6 months 
 
 
Deferred Compensation Arrangement with Individual, Contribution To Plan By Employee, Percent Of Eligible Compensation
75.00% 
 
 
Deferred Compensation Arrangement with Individual, Contribution Requirements, Matching Percent
50.00% 
 
 
Deferred Compensation Arrangement with Individual, Employer Contribution
1,900,000 
1,400,000 
1,200,000 
Defined Contribution Pension [Member] |
Minimum [Member]
 
 
 
Employee Benefit [Line Items]
 
 
 
Deferred Compensation Arrangement with Individual, Eligible Age
18 
 
 
Defined Contribution Pension [Member] |
Maximum [Member]
 
 
 
Employee Benefit [Line Items]
 
 
 
Deferred Compensation Arrangement with Individual, Contribution Requirements, Percent Of Each Employee Compensation
3.00% 
 
 
Deferred Profit Sharing [Member]
 
 
 
Employee Benefit [Line Items]
 
 
 
Deferred Compensation Arrangement with Individual, Service Period
6 months 
 
 
Deferred Compensation Arrangement with Individual, Contribution To Plan By Employee, Percent Of Eligible Compensation
75.00% 
 
 
Deferred Compensation Arrangement with Individual, Contribution Requirements, Matching Percent
50.00% 
 
 
Deferred Compensation Arrangement with Individual, Employer Contribution
4,000,000 
2,900,000 
2,600,000 
Deferred Profit Sharing [Member] |
Minimum [Member]
 
 
 
Employee Benefit [Line Items]
 
 
 
Deferred Compensation Arrangement with Individual, Eligible Age
18 
 
 
Deferred Profit Sharing [Member] |
Maximum [Member]
 
 
 
Employee Benefit [Line Items]
 
 
 
Deferred Compensation Arrangement with Individual, Contribution Requirements, Percent Of Each Employee Compensation
3.00% 
 
 
ESP Plan [Member]
 
 
 
Employee Benefit [Line Items]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Purchase Date
90.00% 
 
 
Unit Plans [Member]
 
 
 
Employee Benefit [Line Items]
 
 
 
Deferred Compensation Arrangement with Individual, Recorded Liability
4,700,000 
4,700,000 
 
Deferred Compensation Arrangement with Individual, Compensation Expense
458,000 
677,000 
655,000 
Unit Plans [Member] |
Minimum [Member]
 
 
 
Employee Benefit [Line Items]
 
 
 
Deferred Compensation Arrangement with Individual, Vesting Period
4 years 
 
 
Deferred Compensation Arrangement with Individual, Benefit Period
5 years 
 
 
Unit Plans [Member] |
Maximum [Member]
 
 
 
Employee Benefit [Line Items]
 
 
 
Deferred Compensation Arrangement with Individual, Vesting Period
10 years 
 
 
Deferred Compensation Arrangement with Individual, Benefit Period
10 years 
 
 
SERP [Member]
 
 
 
Employee Benefit [Line Items]
 
 
 
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate
5.10% 
 
 
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Normal Retirement Age
65 
 
 
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Annual Cost Of Living Benefit Adjustment
2.00% 
 
 
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract]
 
 
 
2014
1,702,000 
 
 
2015
975,000 
 
 
2016
994,000 
 
 
2017
1,088,000 
 
 
2018
1,355,000 
 
 
2019 through 2023
8,852,000 
 
 
Total
$ 14,966,000 
 
 
Commitments and Contingent Liabilities (Details) (USD $)
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Minimum future rental payments:
 
 
 
 
2014
 
$ 8,033,000 
 
 
2015
 
6,787,000 
 
 
2016
 
4,847,000 
 
 
2017
 
3,642,000 
 
 
2018
 
3,111,000 
 
 
Thereafter
 
13,105,000 
 
 
Total minimum payments
 
39,525,000 
 
 
Operating Leases, Rent Expense, Sublease Rentals
 
673,000 
639,000 
655,000 
Operating Leases, Rent Expense, Net
 
8,500,000 
4,500,000 
4,600,000 
Restructuring and Related Cost, Expected Cost Remaining
1,200,000 
 
 
 
Commitments to Extend Credit [Member]
 
 
 
 
Minimum future rental payments:
 
 
 
 
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability
 
1,370,000,000 
888,500,000 
 
Standby Letters of Credit [Member]
 
 
 
 
Minimum future rental payments:
 
 
 
 
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability
 
36,700,000 
19,500,000 
 
Commercial Letter of Credit and other off-balance sheet liabilities [Member]
 
 
 
 
Minimum future rental payments:
 
 
 
 
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability
 
2,700,000 
46,000 
 
Branch consolidation [Member]
 
 
 
 
Minimum future rental payments:
 
 
 
 
Increase (Decrease) in Restructuring Reserve
 
1,400,000 
 
 
Restructuring and Related Cost, Accelerated Depreciation
 
1,400,000 
 
 
Restructuring and Related Cost, Cost Incurred to Date
 
2,800,000 
 
 
Restructuring and Related Cost, Expected Cost
 
$ 4,000,000 
 
 
Shareholders' Equity (Details) (USD $)
0 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended
Oct. 24, 2013
Jul. 26, 2013
Apr. 25, 2013
Jan. 24, 2013
Dec. 31, 2013
Apr. 2, 2013
Jan. 23, 2014
Dividend Declared [Member]
Apr. 2, 2013
Series B Preferred Stock [Member]
Dec. 31, 2013
Series B Preferred Stock [Member]
Class of Stock [Line Items]
 
 
 
 
 
 
 
 
 
Preferred Stock Converted Into Common Stock, Shares
 
 
 
 
102,363 
 
 
 
 
Class of Warrant or Right, Number of Securities Called by Warrants or Rights
 
 
 
 
 
2,214,639 
 
 
 
Class of Warrant or Right, Exercise Price of Warrants or Rights
 
 
 
 
 
8.58 
 
 
 
Warrants and Rights Outstanding
 
 
 
 
 
$ 19,000,000 
 
 
 
Declared quarterly cash dividend
$ 0.11 
$ 0.1 
$ 0.1 
$ 0.1 
 
 
$ 0.12 
 
 
Stock Repurchase Program, Number of Shares Authorized to be Repurchased
 
 
 
 
2,000,000 
 
 
 
 
Stock Repurchased During Period, Shares
 
 
 
 
0 
 
 
 
 
Stock Issued During Period, Shares, New Issues
 
 
 
 
 
 
 
8,782 
9,000 
Stock Issued During Period, Value, New Issues
 
 
 
 
$ 276,181,000 
 
 
 
$ 2,217,000 
Accumulated Other Comprehensive Income (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Accumulated Other Comprehensive Income (Loss) [Line Items]
 
 
 
Accumulated Other Comprehensive Income (Loss), Net of Tax
$ (12,044)1
$ 20,149 1
 
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax
(32,159)1
 
 
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax
(34)1 2
 
 
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
(32,193)1
(4,984)
12,852 
Accumulated Defined Benefit Plans Adjustment [Member]
 
 
 
Accumulated Other Comprehensive Income (Loss) [Line Items]
 
 
 
Accumulated Other Comprehensive Income (Loss), Net of Tax
(1,936)1
(769)1
 
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax
(1,432)1
 
 
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax
265 1 2
 
 
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
(1,167)1
 
 
Accumulated Net Unrealized Investment Gain (Loss) [Member]
 
 
 
Accumulated Other Comprehensive Income (Loss) [Line Items]
 
 
 
Accumulated Other Comprehensive Income (Loss), Net of Tax
(10,108)1
20,918 1
 
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax
(30,727)1
 
 
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax
(299)1 2
 
 
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent
$ (31,026)1
 
 
Fair Value Accounting and Measurement (Financial Assets And Liabilities Accounted for Fair Value On Recurring Basis) (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
$ 1,664,111 
$ 1,001,665 
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
1,664,111 
1,001,665 
Other assets (Interest rate contracts)
9,044 
14,921 
Other liabilities (Interest rate contracts)
9,044 
14,921 
Fair Value, Inputs, Level 1 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
20,114 
19,828 
Other assets (Interest rate contracts)
0 
0 
Other liabilities (Interest rate contracts)
0 
0 
Fair Value, Inputs, Level 2 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
1,643,997 
981,837 
Other assets (Interest rate contracts)
9,044 
14,921 
Other liabilities (Interest rate contracts)
9,044 
14,921 
Fair Value, Inputs, Level 3 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
0 
0 
Other assets (Interest rate contracts)
0 
0 
Other liabilities (Interest rate contracts)
0 
0 
U.S. Government Agency and Sponsored Enterprise Mortgage-Back Securities and Collateralized Mortgage Obligations [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
948,408 
572,369 
U.S. Government Agency and Sponsored Enterprise Mortgage-Back Securities and Collateralized Mortgage Obligations [Member] |
Fair Value, Inputs, Level 1 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
0 
0 
U.S. Government Agency and Sponsored Enterprise Mortgage-Back Securities and Collateralized Mortgage Obligations [Member] |
Fair Value, Inputs, Level 2 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
948,408 
572,369 
U.S. Government Agency and Sponsored Enterprise Mortgage-Back Securities and Collateralized Mortgage Obligations [Member] |
Fair Value, Inputs, Level 3 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
0 
0 
State and Municipal Securities [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
364,470 
285,575 
State and Municipal Securities [Member] |
Fair Value, Inputs, Level 1 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
0 
0 
State and Municipal Securities [Member] |
Fair Value, Inputs, Level 2 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
364,470 
285,575 
State and Municipal Securities [Member] |
Fair Value, Inputs, Level 3 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
0 
0 
U.S. Government Agency [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
326,039 
120,501 
U.S. Government Agency [Member] |
Fair Value, Inputs, Level 1 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
0 
0 
U.S. Government Agency [Member] |
Fair Value, Inputs, Level 2 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
326,039 
120,501 
U.S. Government Agency [Member] |
Fair Value, Inputs, Level 3 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
0 
0 
US Treasury Securities [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
20,114 
19,828 
US Treasury Securities [Member] |
Fair Value, Inputs, Level 1 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
20,114 
19,828 
US Treasury Securities [Member] |
Fair Value, Inputs, Level 2 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
0 
0 
US Treasury Securities [Member] |
Fair Value, Inputs, Level 3 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
0 
0 
Other Securities [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
5,080 
3,392 
Other Securities [Member] |
Fair Value, Inputs, Level 1 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
0 
0 
Other Securities [Member] |
Fair Value, Inputs, Level 2 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
5,080 
3,392 
Other Securities [Member] |
Fair Value, Inputs, Level 3 [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Securities available for sale
$ 0 
$ 0 
Accumulated Other Comprehensive Income Amounts reclassified from Accumulated Other Comprehensive Income (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Gain on sale of investment securities, net
 
 
 
 
 
 
 
 
$ 462 
$ 3,733 
$ (2,816)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest
27,884 
20,010 
22,005 
17,111 
18,804 
16,535 
16,266 
12,100 
87,010 
63,705 
65,942 
Income Tax Expense (Benefit)
(7,911)
(6,734)
(7,414)
(4,935)
(5,342)
(4,655)
(4,367)
(3,198)
(26,994)
(17,562)
(17,905)
Net income (loss)
19,973 
13,276 
14,591 
12,176 
13,462 
11,880 
11,899 
8,902 
60,016 
46,143 
48,037 
Compensation and employee benefits
 
 
 
 
 
 
 
 
125,432 
85,434 
81,552 
Reclassification out of Accumulated Other Comprehensive Income [Member] |
Accumulated Defined Benefit Plans Adjustment [Member]
 
 
 
 
 
 
 
 
 
 
 
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest
 
 
 
 
 
 
 
 
(400)
 
 
Income Tax Expense (Benefit)
 
 
 
 
 
 
 
 
135 
 
 
Net income (loss)
 
 
 
 
 
 
 
 
(265)
 
 
Compensation and employee benefits
 
 
 
 
 
 
 
 
(400)
 
 
Reclassification out of Accumulated Other Comprehensive Income [Member] |
Accumulated Net Unrealized Investment Gain (Loss) [Member]
 
 
 
 
 
 
 
 
 
 
 
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Gain on sale of investment securities, net
 
 
 
 
 
 
 
 
462 
 
 
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest
 
 
 
 
 
 
 
 
462 
 
 
Income Tax Expense (Benefit)
 
 
 
 
 
 
 
 
(163)
 
 
Net income (loss)
 
 
 
 
 
 
 
 
$ 299 
 
 
Fair Value Accounting and Measurement (Financial Assets Accounted For Fair Value On Nonrecurring Basis) (Details) (Fair Value, Measurements, Nonrecurring [Member], USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Impaired loans
$ 8,973 
$ 10,599 
Non-Covered Other Real Estate Owned Fair Value
5,080 
10,970 
Other Real Estate Owned, Fair Value Disclosure
613 
2,663 
Other Personal Property Owned, Fair Value Disclosure
 
210 
Assets, Fair Value Disclosure
14,666 
24,442 
Losses During Period
2,766 
8,750 
Fair Value, Inputs, Level 1 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Impaired loans
0 
0 
Non-Covered Other Real Estate Owned Fair Value
0 
0 
Other Real Estate Owned, Fair Value Disclosure
0 
0 
Other Personal Property Owned, Fair Value Disclosure
 
0 
Assets, Fair Value Disclosure
0 
0 
Fair Value, Inputs, Level 2 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Impaired loans
0 
0 
Non-Covered Other Real Estate Owned Fair Value
0 
0 
Other Real Estate Owned, Fair Value Disclosure
0 
0 
Other Personal Property Owned, Fair Value Disclosure
 
0 
Assets, Fair Value Disclosure
0 
0 
Fair Value, Inputs, Level 3 [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Impaired loans
8,973 
10,599 
Non-Covered Other Real Estate Owned Fair Value
5,080 
10,970 
Other Real Estate Owned, Fair Value Disclosure
613 
2,663 
Other Personal Property Owned, Fair Value Disclosure
 
210 
Assets, Fair Value Disclosure
14,666 
24,442 
Covered Loans [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Losses During Period
236 
1,032 
Impaired Loans [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Losses During Period
1,536 
3,891 
Other Personal Property Owned [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Losses During Period
 
39 
Noncovered Loans [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Losses During Period
$ 994 
$ 3,788 
Fair Value Accounting and Measurement (Quantitative Information About Level 3 Fair Value Measurements) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended 12 Months Ended 12 Months Ended
Dec. 31, 2013
Dec. 31, 2013
Fair Value, Measurements, Nonrecurring [Member]
Dec. 31, 2012
Fair Value, Measurements, Nonrecurring [Member]
Dec. 31, 2013
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Nonrecurring [Member]
Dec. 31, 2012
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Nonrecurring [Member]
Dec. 31, 2013
Market Approach Valuation Technique [Member]
Impaired Loans [Member]
Minimum [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Nonrecurring [Member]
Dec. 31, 2013
Market Approach Valuation Technique [Member]
Impaired Loans [Member]
Maximum [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Nonrecurring [Member]
Dec. 31, 2013
Market Approach Valuation Technique [Member]
Impaired Loans [Member]
Weighted Average [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Nonrecurring [Member]
Dec. 31, 2013
Noncovered Loans [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Nonrecurring [Member]
Dec. 31, 2012
Noncovered Loans [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Nonrecurring [Member]
Dec. 31, 2013
Covered Loans [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Nonrecurring [Member]
Dec. 31, 2012
Covered Loans [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Nonrecurring [Member]
Dec. 31, 2013
Covered Loans [Member]
Market Approach Valuation Technique [Member]
Other Real Estate Owned [Member]
Minimum [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Nonrecurring [Member]
Dec. 31, 2013
Covered Loans [Member]
Market Approach Valuation Technique [Member]
Other Real Estate Owned [Member]
Maximum [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Nonrecurring [Member]
Dec. 31, 2013
Covered Loans [Member]
Market Approach Valuation Technique [Member]
Other Real Estate Owned [Member]
Weighted Average [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Measurements, Nonrecurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair Value Inputs, Assets, Quantitative Information [Table Text Block]
Text Block 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Impaired loans
 
$ 8,973 
$ 10,599 
$ 8,973 
$ 10,599 
 
 
 
 
 
 
 
 
 
 
Other Real Estate Owned, Fair Value Disclosure
 
613 
2,663 
613 
2,663 
 
 
 
5,080 
10,970 
613 
2,663 
 
 
 
Other Personal Property Owned, Fair Value Disclosure
 
 
$ 210 
 
$ 210 
 
 
 
 
$ 210 
 
 
 
 
 
Fair Value Inputs, Comparability Adjustments
 
 
 
 
 
   
   
   
 
 
 
 
   
   
   
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] 
The range and weighted-average of the significant unobservable inputs used to fair value our Level 3 nonrecurring assets during 2013 and 2012, along with the valuation techniques used, are shown in the following tables:
 
 
Fair value  at
December 31, 2013
 
Valuation Technique
 
Unobservable Input
 
Range (Weighted Average) (1)
 
 
(dollars in thousands)
Impaired loans
 
$
8,973

 
Fair Market Value of Collateral
 
Adjustment to Appraisal Value
 
N/A (2)
Noncovered OREO
 
5,080

 
Fair Market Value of Collateral
 
Adjustment to Appraisal Value
 
N/A (2)
Covered OREO
 
613

 
Fair Market Value of Collateral
 
Adjustment to Appraisal Value
 
N/A (2)
(1) Discount applied to appraisal value, letter of intent to purchase, or stated value (in the case of accounts receivable and inventory).
(2) Quantitative disclosures are not provided for impaired loans, noncovered OREO and covered OREO because there were no adjustments made to the appraisal value during the current period.
Fair Value Accounting and Measurement Fair Value Accounting and Measurement (Carrying Amounts and Estimated Fair Values of Selected Financial Instruments) (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Assets
 
 
Interest-earning deposits with banks
$ 14,531 
$ 389,353 
Securities available for sale
1,664,111 
1,001,665 
Reported Value Measurement [Member]
 
 
Assets
 
 
Cash and due from banks
165,030 
124,573 
Interest-earning deposits with banks
14,531 
389,353 
Securities available for sale
1,664,111 
1,001,665 
FHLB stock
32,529 
21,819 
Loans held for sale
735 
2,563 
Loans
4,444,842 
2,864,803 
FDIC loss-sharing asset
39,846 
96,354 
Interest rate contracts
9,044 
14,921 
Liabilities
 
 
Deposits
5,959,475 
4,042,085 
FHLB Advances
36,606 
6,644 
Repurchase agreements
25,000 
25,000 
Interest rate contracts
9,044 
14,921 
Estimate of Fair Value Measurement [Member]
 
 
Assets
 
 
Cash and due from banks
165,030 
124,573 
Interest-earning deposits with banks
14,531 
389,353 
Securities available for sale
1,664,111 
1,001,665 
FHLB stock
32,529 
21,819 
Loans held for sale
735 
2,563 
Loans
4,605,038 
2,944,317 
FDIC loss-sharing asset
11,248 
26,543 
Interest rate contracts
9,044 
14,921 
Liabilities
 
 
Deposits
5,958,747 
4,043,221 
FHLB Advances
35,080 
5,894 
Repurchase agreements
26,361 
26,464 
Interest rate contracts
9,044 
14,921 
Fair Value, Inputs, Level 2 [Member] |
Estimate of Fair Value Measurement [Member]
 
 
Assets
 
 
Cash and due from banks
0 
0 
Interest-earning deposits with banks
0 
0 
Securities available for sale
1,643,997 
981,837 
FHLB stock
32,529 
21,819 
Loans held for sale
735 
2,563 
Loans
0 
0 
FDIC loss-sharing asset
0 
0 
Interest rate contracts
9,044 
14,921 
Liabilities
 
 
Deposits
509,201 
493,400 
FHLB Advances
35,080 
5,894 
Repurchase agreements
26,361 
26,464 
Interest rate contracts
9,044 
14,921 
Fair Value, Inputs, Level 3 [Member] |
Estimate of Fair Value Measurement [Member]
 
 
Assets
 
 
Cash and due from banks
0 
0 
Interest-earning deposits with banks
0 
0 
Securities available for sale
0 
0 
FHLB stock
0 
0 
Loans held for sale
0 
0 
Loans
4,605,038 
2,944,317 
FDIC loss-sharing asset
11,248 
26,543 
Interest rate contracts
0 
0 
Liabilities
 
 
Deposits
0 
0 
FHLB Advances
0 
0 
Repurchase agreements
0 
0 
Interest rate contracts
0 
0 
Fair Value, Inputs, Level 1 [Member] |
Estimate of Fair Value Measurement [Member]
 
 
Assets
 
 
Cash and due from banks
165,030 
124,573 
Interest-earning deposits with banks
14,531 
389,353 
Securities available for sale
20,114 
19,828 
FHLB stock
0 
0 
Loans held for sale
0 
0 
Loans
0 
0 
FDIC loss-sharing asset
0 
0 
Interest rate contracts
0 
0 
Liabilities
 
 
Deposits
5,449,546 
3,549,821 
FHLB Advances
0 
0 
Repurchase agreements
0 
0 
Interest rate contracts
$ 0 
$ 0 
Fair Value Accounting and Measurement Fair Value, quantitative inputs to Level 3 measurements (Details) (Fair Value, Measurements, Nonrecurring [Member], USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Fair Value, Inputs, Level 3 [Member]
Dec. 31, 2012
Fair Value, Inputs, Level 3 [Member]
Dec. 31, 2013
Noncovered Loans [Member]
Fair Value, Inputs, Level 3 [Member]
Dec. 31, 2012
Noncovered Loans [Member]
Fair Value, Inputs, Level 3 [Member]
Dec. 31, 2013
Covered Loans [Member]
Fair Value, Inputs, Level 3 [Member]
Dec. 31, 2012
Covered Loans [Member]
Fair Value, Inputs, Level 3 [Member]
Dec. 31, 2013
Minimum [Member]
Impaired Loans [Member]
Market Approach Valuation Technique [Member]
Fair Value, Inputs, Level 3 [Member]
Dec. 31, 2013
Minimum [Member]
Other Real Estate Owned [Member]
Market Approach Valuation Technique [Member]
Covered Loans [Member]
Fair Value, Inputs, Level 3 [Member]
Dec. 31, 2013
Maximum [Member]
Impaired Loans [Member]
Market Approach Valuation Technique [Member]
Fair Value, Inputs, Level 3 [Member]
Dec. 31, 2013
Maximum [Member]
Other Real Estate Owned [Member]
Market Approach Valuation Technique [Member]
Covered Loans [Member]
Fair Value, Inputs, Level 3 [Member]
Dec. 31, 2013
Weighted Average [Member]
Impaired Loans [Member]
Market Approach Valuation Technique [Member]
Fair Value, Inputs, Level 3 [Member]
Dec. 31, 2013
Weighted Average [Member]
Other Real Estate Owned [Member]
Market Approach Valuation Technique [Member]
Covered Loans [Member]
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair Value Inputs, Comparability Adjustments
 
 
 
 
 
 
 
 
   
   
   
   
   
   
Impaired loans
$ 8,973 
$ 10,599 
$ 8,973 
$ 10,599 
 
 
 
 
 
 
 
 
 
 
Other Real Estate Owned, Fair Value Disclosure
613 
2,663 
613 
2,663 
5,080 
10,970 
613 
2,663 
 
 
 
 
 
 
Other Personal Property Owned, Fair Value Disclosure
 
$ 210 
 
$ 210 
 
$ 210 
 
 
 
 
 
 
 
 
Earnings Per Common Share (Schedule of Basic and Diluted Earnings Per Share) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Earnings Per Share [Abstract]
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$ 19,973 
$ 13,276 
$ 14,591 
$ 12,176 
$ 13,462 
$ 11,880 
$ 11,899 
$ 8,902 
$ 60,016 
$ 46,143 
$ 48,037 
Earnings allocated to participating securities - preferred shares
 
 
 
 
 
 
 
 
95 
0 
0 
Earnings allocated to participating securities - nonvested restricted shares
 
 
 
 
 
 
 
 
523 
443 
450 
Weighted average common shares outstanding
 
 
 
 
 
 
 
 
47,993 
39,260 
39,103 
Earnings (loss) basic (dollars per share)
$ 0.39 1
$ 0.26 1
$ 0.28 1
$ 0.31 1
$ 0.34 1
$ 0.30 1
$ 0.30 1
$ 0.22 1
$ 1.24 1
$ 1.16 1
$ 1.22 
Earnings allocated to common shareholders, Diluted
 
 
 
 
 
 
 
 
$ 59,407 
$ 45,700 
$ 47,588 
Weighted average number of common shares outstanding
 
 
 
 
 
 
 
 
47,993 
39,260 
39,103 
Dilutive effect of equity awards and warrants
 
 
 
 
 
 
 
 
1,058 
3 
77 
Weighted average diluted common shares outstanding
 
 
 
 
 
 
 
 
49,051 
39,263 
39,180 
Earnings (loss) diluted (dollars per share)
$ 0.38 1
$ 0.25 1
$ 0.28 1
$ 0.31 1
$ 0.34 1
$ 0.30 1
$ 0.30 1
$ 0.22 1
$ 1.21 1
$ 1.16 1
$ 1.21 
Potentially dilutive share options that were not included in the computation of diluted EPS because to do so would be anti-dilutive.
 
 
 
 
 
 
 
 
64 
9 
53 
Share-Based Payments (Share Awards) (Details) (USD $)
In Millions, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
 
 
 
 
Allocated Share-based Compensation Expense
$ 2.8 
$ 1.6 
$ 1.6 
 
Share-based compensation, number authorized (in shares)
3,113,592 
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
 
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number
410,598 
384,090 
362,675 
353,283 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value
$ 20.79 
$ 19.54 
$ 19.24 
$ 21.14 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period
203,441 
180,841 
133,350 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value
$ 20.78 
$ 21.32 
$ 19.45 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period
(117,153)
(118,511)
(109,033)
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value
$ 16.90 
$ 21.65 
$ 25.72 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period
(59,780)
(40,915)
(14,925)
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period, Weighted Average Grant Date Fair Value
$ 20.24 
$ 18.60 
$ 18.86 
 
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized
6.4 
 
 
 
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition
2 years 3 months 17 days 
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value
$ 2.5 
$ 2.5 
$ 2.2 
 
Share-Based Payments (Share Options) (Details) (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Allocated Share-based Compensation Expense
$ 2,800,000 
$ 1,600,000 
$ 1,600,000 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
 
 
 
Balance at beginning of year (in shares)
25,952 
 
 
Granted (in shares)
222,110 
0 
0 
Forfeited (in shares)
(83,284)
 
 
Expired (in shares)
(12,544)
 
 
Exercised (in shares)
(36,037)
 
 
Balance at end of year (in shares)
116,197 
25,952 
 
Total Exercisable Shares
116,197 
 
 
Weighted Average Exercise Price at beginning of year
$ 20.13 
 
 
Weighted Average Exercise Price, Granted
$ 64.11 
 
 
Weighted Average Exercise Price, Forfeited
$ 69.27 
 
 
Weighted Average Exercise Price, Expired
$ 81.78 
 
 
Weighted Average Exercise Price, Exercised
$ 11.46 
 
 
Weighted Average Exercise Price at end of year
$ 65.01 
$ 20.13 
 
Exercisable, Weighted Average Exercise Price
$ 65.01 
 
 
Weighted Average Remaining Contractual Term
2 years 9 months 19 days 
 
 
Aggregate Intrinsic Value
550,000 
 
 
Exercisable, Weighted Average Remaining Contractual Term
2 years 9 months 19 days 
 
 
Exercisable, Aggregate Intrinsic Value
550,000 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value
410,000 
5,000 
65,000 
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Abstract]
 
 
 
Number of Option Shares
116,197 
 
 
Weighted Average Remaining Contractual Life
2 years 9 months 7 days 
 
 
Weighted Average Exercise Price of Option Shares
$ 65.01 
 
 
Number of Exercisable Option Shares
116,197 
 
 
Weighted Average Exercise Price of Exercisable Option Shares
$ 65.01 
 
 
Stock-based compensation expense
$ 2,844,000 
$ 1,622,000 
$ 1,635,000 
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range From 0.00 To 9.99 [Member]
 
 
 
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Abstract]
 
 
 
Range of Exercise Prices, Lower Limit
$ 0.00 
 
 
Range of Exercise Prices, Upper Limit
$ 9.99 
 
 
Number of Option Shares
29,602 
 
 
Weighted Average Remaining Contractual Life
5 years 0 months 2 days 
 
 
Weighted Average Exercise Price of Option Shares
$ 9.91 
 
 
Number of Exercisable Option Shares
29,602 
 
 
Weighted Average Exercise Price of Exercisable Option Shares
$ 9.91 
 
 
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range From 10.00 To 19.99 [Member]
 
 
 
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Abstract]
 
 
 
Range of Exercise Prices, Lower Limit
$ 10.00 
 
 
Range of Exercise Prices, Upper Limit
$ 19.99 
 
 
Number of Option Shares
2,879 
 
 
Weighted Average Remaining Contractual Life
1 year 0 months 1 day 
 
 
Weighted Average Exercise Price of Option Shares
$ 17.36 
 
 
Number of Exercisable Option Shares
2,879 
 
 
Weighted Average Exercise Price of Exercisable Option Shares
$ 17.36 
 
 
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range From 20.00 To 29.99 [Member]
 
 
 
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Abstract]
 
 
 
Range of Exercise Prices, Lower Limit
$ 20.00 
 
 
Range of Exercise Prices, Upper Limit
$ 29.99 
 
 
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range From 30.00 To 39.99 [Member]
 
 
 
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Abstract]
 
 
 
Range of Exercise Prices, Lower Limit
$ 30.00 
 
 
Range of Exercise Prices, Upper Limit
$ 39.99 
 
 
Number of Option Shares
4,051 
 
 
Weighted Average Remaining Contractual Life
3 years 1 month 22 days 
 
 
Weighted Average Exercise Price of Option Shares
$ 30.86 
 
 
Number of Exercisable Option Shares
4,051 
 
 
Weighted Average Exercise Price of Exercisable Option Shares
$ 30.86 
 
 
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range From 40.00 To 49.99 [Member]
 
 
 
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Abstract]
 
 
 
Range of Exercise Prices, Lower Limit
$ 40.00 
 
 
Range of Exercise Prices, Upper Limit
$ 49.99 
 
 
Number of Option Shares
349 
 
 
Weighted Average Remaining Contractual Life
4 years 5 months 26 days 
 
 
Weighted Average Exercise Price of Option Shares
$ 44.49 
 
 
Number of Exercisable Option Shares
349 
 
 
Weighted Average Exercise Price of Exercisable Option Shares
$ 44.49 
 
 
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range From 50.00 To 146.41 [Member]
 
 
 
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Abstract]
 
 
 
Range of Exercise Prices, Lower Limit
$ 50.00 
 
 
Range of Exercise Prices, Upper Limit
$ 146.41 
 
 
Number of Option Shares
79,316 
 
 
Weighted Average Remaining Contractual Life
1 year 11 months 14 days 
 
 
Weighted Average Exercise Price of Option Shares
$ 89.14 
 
 
Number of Exercisable Option Shares
79,316 
 
 
Weighted Average Exercise Price of Exercisable Option Shares
$ 89.14 
 
 
Stock Option [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share Based Compensation Arrangement By Share Based Payment Award, Exercisable Period
5 years 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period
3 years 
 
 
Share Based Compensation Arrangement By Share Based Payment Award, Maximum Term
10 years 
 
 
Income Tax (Details) (USD $)
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Income Tax Contingency [Line Items]
 
 
 
 
 
 
 
 
 
 
 
State operating loss carryforwards, set to begin to expire in 2023
$ 25,300,000 
 
 
 
 
 
 
 
$ 25,300,000 
 
 
State tax credit carryforwards, set to expire in 2014
1,700,000 
 
 
 
 
 
 
 
1,700,000 
 
 
Current tax (benefit) expense
 
 
 
 
 
 
 
 
21,581,000 
21,218,000 
21,688,000 
Deferred tax expense (benefit)
 
 
 
 
 
 
 
 
5,413,000 
(3,656,000)
(3,783,000)
Income tax expense (benefit)
7,911,000 
6,734,000 
7,414,000 
4,935,000 
5,342,000 
4,655,000 
4,367,000 
3,198,000 
26,994,000 
17,562,000 
17,905,000 
Deferred tax assets:
 
 
 
 
 
 
 
 
 
 
 
Allowance for loan and lease losses
27,196,000 
 
 
 
30,027,000 
 
 
 
27,196,000 
30,027,000 
 
Supplemental executive retirement plan
8,565,000 
 
 
 
6,967,000 
 
 
 
8,565,000 
6,967,000 
 
Stock option and restricted stock
917,000 
 
 
 
682,000 
 
 
 
917,000 
682,000 
 
OREO costs
7,929,000 
 
 
 
3,801,000 
 
 
 
7,929,000 
3,801,000 
 
Nonaccrual interest
2,354,000 
 
 
 
193,000 
 
 
 
2,354,000 
193,000 
 
Deferred tax assets, purchase accounting
15,551,000 
 
 
 
0 
 
 
 
15,551,000 
0 
 
Deferred Tax Assets, Unrealized Losses on Available-for-Sale Securities, Gross
7,176,000 
 
 
 
0 
 
 
 
7,176,000 
0 
 
deferred tax liabilities, unrealized gains on available-for-sale securities
0 
 
 
 
11,150,000 
 
 
 
0 
11,150,000 
 
Other
1,741,000 
 
 
 
557,000 
 
 
 
1,741,000 
557,000 
 
Total deferred tax assets
71,429,000 
 
 
 
42,227,000 
 
 
 
71,429,000 
42,227,000 
 
Deferred tax liabilities:
 
 
 
 
 
 
 
 
 
 
 
Asset purchase tax basis difference
(7,754,000)
 
 
 
(19,408,000)
 
 
 
(7,754,000)
(19,408,000)
 
FHLB stock dividends
(4,159,000)
 
 
 
(1,963,000)
 
 
 
(4,159,000)
(1,963,000)
 
Purchase accounting
0 
 
 
 
(745,000)
 
 
 
0 
(745,000)
 
Deferred loan fees
(4,512,000)
 
 
 
(1,755,000)
 
 
 
(4,512,000)
(1,755,000)
 
Depreciation
(7,076,000)
 
 
 
(1,870,000)
 
 
 
(7,076,000)
(1,870,000)
 
Total deferred tax liabilities
23,501,000 
 
 
 
36,891,000 
 
 
 
23,501,000 
36,891,000 
 
Net deferred tax (liability) asset
47,928,000 
 
 
 
5,336,000 
 
 
 
47,928,000 
5,336,000 
 
Reconciliation of effective income tax rate with federal statutory tax rate
 
 
 
 
 
 
 
 
 
 
 
Income tax based on statutory rate
 
 
 
 
 
 
 
 
30,454,000 
22,297,000 
23,080,000 
Income tax based on statutory rate, percent
 
 
 
 
 
 
 
 
35.00% 
35.00% 
35.00% 
Tax credits
 
 
 
 
 
 
 
 
(1,038,000)
(504,000)
(608,000)
Tax credits, percent
 
 
 
 
 
 
 
 
(1.00%)
(1.00%)
(1.00%)
Tax exempt instrument
 
 
 
 
 
 
 
 
(4,113,000)
(3,906,000)
(3,824,000)
Tax exempt instrument, percent
 
 
 
 
 
 
 
 
(5.00%)
(6.00%)
(6.00%)
Life insurance proceeds
 
 
 
 
 
 
 
 
(1,250,000)
(1,001,000)
(766,000)
Life insurance proceeds, percent
 
 
 
 
 
 
 
 
(1.00%)
(2.00%)
(1.00%)
Bargain purchase
 
 
 
 
 
 
 
 
0 
0 
(1,036,000)
Bargain purchase, percent
 
 
 
 
 
 
 
 
0.00% 
0.00% 
(2.00%)
effective income tax rate reconciliation, nondeductible expense, business combination, amount
 
 
 
 
 
 
 
 
1,362,000 
0 
0 
effective income tax rate reconciliation, nondeductible expense, business combination, percent
 
 
 
 
 
 
 
 
2.00% 
0.00% 
0.00% 
Other, net
 
 
 
 
 
 
 
 
1,579,000 
676,000 
1,059,000 
Other, net, percent
 
 
 
 
 
 
 
 
1.00% 
1.00% 
2.00% 
Income tax expense (benefit)
7,911,000 
6,734,000 
7,414,000 
4,935,000 
5,342,000 
4,655,000 
4,367,000 
3,198,000 
26,994,000 
17,562,000 
17,905,000 
Income tax provision (benefit), percent
 
 
 
 
 
 
 
 
31.00% 
27.00% 
27.00% 
Unrecognized tax position
0 
 
 
 
 
 
 
 
0 
 
 
Interest and penalties on unrecognized tax benefits
 
 
 
 
 
 
 
 
$ 0 
 
 
Regulatory Capital Requirements (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
 
 
Total Capital, Actual Amount
$ 760,349 
$ 652,704 
Total Capital (to risk-weighted assets), Ratio
14.68% 
20.62% 
Total Capital For Capital Adequacy Purposes, Amount
414,300 
253,242 
Total Capital (to risk-weighted assets), For Capital Adequacy Purposes, Ratio
8.00% 
8.00% 
Tier 1 Capital, Actual Amount
695,489 
612,584 
Tier 1 Capital (to risk-weighted assets), Ratio
13.43% 
19.35% 
Tier 1 Capital For Capital Adequacy Purposes, Amount
207,150 
126,621 
Tier 1 Capital (to risk-weighted assets) For Capital Adequacy Purposes, Ratio
4.00% 
4.00% 
Tier 1 Capital, Actual Amount
695,489 
612,584 
Tier 1 Capital (to average assets), Ratio
10.19% 
12.78% 
Tier 1 Capital For Capital Adequacy Purposes, Amount
272,891 
191,778 
Tier 1 Capital (to average assets) For Capital Adequacy Purposes, Ratio
4.00% 
4.00% 
Parent Company [Member]
 
 
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
 
 
Total Capital, Actual Amount
700,099 
565,677 
Total Capital (to risk-weighted assets), Ratio
13.52% 
17.87% 
Total Capital For Capital Adequacy Purposes, Amount
414,238 
253,244 
Total Capital (to risk-weighted assets), For Capital Adequacy Purposes, Ratio
8.00% 
8.00% 
Total Capital To Be Well Capitalized Under Prompt Corrective Action Provision, Amount
517,797 
316,556 
Total Capital (to risk-weighted assets) To Be Well Capitalized Under Prompt Corrective Action Provision
10.00% 
10.00% 
Tier 1 Capital, Actual Amount
635,248 
525,556 
Tier 1 Capital (to risk-weighted assets), Ratio
12.27% 
16.60% 
Tier 1 Capital For Capital Adequacy Purposes, Amount
207,119 
126,622 
Tier 1 Capital (to risk-weighted assets) For Capital Adequacy Purposes, Ratio
4.00% 
4.00% 
Tier 1 Capital To Be Well Capitalized Under Prompt Corrective Action Provision, Amount
310,678 
189,933 
Tier 1 Capital (to risk-weighted assets) To Be Well Capitalized Under Prompt Corrective Action Provision, Ratio
6.00% 
6.00% 
Tier 1 Capital, Actual Amount
635,248 
525,556 
Tier 1 Capital (to average assets), Ratio
9.29% 
11.07% 
Tier 1 Capital For Capital Adequacy Purposes, Amount
273,560 
189,986 
Tier 1 Capital (to average assets) For Capital Adequacy Purposes, Ratio
4.00% 
4.00% 
Tier 1 Capital To Be Well Capitalized Under Prompt Corrective Provision, Amount
$ 341,950 
$ 237,483 
Tier 1 Capital (to average assets) To Be Well Capitalized Under Prompt Corrective Provision, Ratio
5.00% 
5.00% 
Parent Company Financial Information (Condensed Statements of Income) (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Expense
 
 
 
 
 
 
 
 
 
 
 
Compensation and employee benefits
 
 
 
 
 
 
 
 
$ 125,432 
$ 85,434 
$ 81,552 
Long-term obligations
 
 
 
 
 
 
 
 
0 
0 
579 
Other borrowings
 
 
 
 
 
 
 
 
734 
479 
498 
Other expense
 
 
 
 
 
 
 
 
29,684 
21,015 
17,154 
Income (loss) before income taxes
27,884 
20,010 
22,005 
17,111 
18,804 
16,535 
16,266 
12,100 
87,010 
63,705 
65,942 
Income tax expense (benefit)
7,911 
6,734 
7,414 
4,935 
5,342 
4,655 
4,367 
3,198 
26,994 
17,562 
17,905 
Net Income (Loss)
19,973 
13,276 
14,591 
12,176 
13,462 
11,880 
11,899 
8,902 
60,016 
46,143 
48,037 
Parent [Member]
 
 
 
 
 
 
 
 
 
 
 
Income
 
 
 
 
 
 
 
 
 
 
 
Dividend from banking subsidiaries
 
 
 
 
 
 
 
 
183,000 
48,950 
0 
Interest-earning deposits
 
 
 
 
 
 
 
 
68 
153 
712 
Other income
 
 
 
 
 
 
 
 
7 
0 
17 
Total Income
 
 
 
 
 
 
 
 
183,075 
49,103 
729 
Expense
 
 
 
 
 
 
 
 
 
 
 
Compensation and employee benefits
 
 
 
 
 
 
 
 
658 
182 
88 
Long-term obligations
 
 
 
 
 
 
 
 
0 
0 
579 
Other borrowings
 
 
 
 
 
 
 
 
258 
0 
0 
Other expense
 
 
 
 
 
 
 
 
4,162 
1,193 
1,114 
Total Expenses
 
 
 
 
 
 
 
 
5,078 
1,375 
1,781 
Income (loss) before income taxes
 
 
 
 
 
 
 
 
177,997 
47,728 
(1,052)
Income tax expense (benefit)
 
 
 
 
 
 
 
 
(1,552)
(435)
91 
Income before equity in undistributed net income (loss) of subsidiaries
 
 
 
 
 
 
 
 
179,549 
48,163 
(1,143)
Equity in undistributed net income (loss) of subsidiaries
 
 
 
 
 
 
 
 
(119,533)
(2,020)
49,180 
Net Income (Loss)
 
 
 
 
 
 
 
 
$ 60,016 
$ 46,143 
$ 48,037 
Parent Company Financial Information (Condensed Balance Sheets) (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Assets
 
 
 
 
Interest-earning deposits
$ 14,531 
$ 389,353 
 
 
Total cash and cash equivalents
179,561 
513,926 
294,289 
514,130 
Other assets
217,289 
113,967 
 
 
Total Assets
7,161,582 
4,906,335 
 
 
Liabilities and Shareholders’ Equity
 
 
 
 
Other liabilities
87,252 
68,598 
 
 
Total liabilities
6,108,333 
4,142,327 
 
 
Shareholders’ equity
1,053,249 
764,008 
759,338 
706,878 
Total liabilities and shareholders' equity
7,161,582 
4,906,335 
 
 
Parent [Member]
 
 
 
 
Assets
 
 
 
 
Cash and due from banking subsidiaries
3,006 
1,729 
 
 
Interest-earning deposits
50,678 
84,915 
 
 
Total cash and cash equivalents
53,684 
86,644 
75,234 
159,173 
Other assets
1,952 
649 
 
 
Total Assets
1,053,675 
764,267 
 
 
Liabilities and Shareholders’ Equity
 
 
 
 
Other liabilities
426 
259 
 
 
Total liabilities
426 
259 
 
 
Shareholders’ equity
1,053,249 
764,008 
 
 
Total liabilities and shareholders' equity
1,053,675 
764,267 
 
 
Banking Subsidiaries [Member] |
Parent [Member]
 
 
 
 
Assets
 
 
 
 
Investment in subsidiaries
993,002 
676,974 
 
 
Other Subsidiaries [Member] |
Parent [Member]
 
 
 
 
Assets
 
 
 
 
Investment in subsidiaries
$ 5,037 
$ 0 
 
 
Parent Company Financial Information (Condensed Statements of Cash Flows) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Operating Activities
 
 
 
Net Income (Loss)
$ 60,016 
$ 46,143 
$ 48,037 
Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Stock-based compensation expense
2,844 
1,622 
1,635 
Net cash provided by operating activities
79,636 
134,899 
86,424 
Net cash acquired in business combinations
(154,170)
0 
247,792 
Investing Activities
 
 
 
Proceeds from termination of trust subsidiaries
0 
0 
774 
Net cash provided by investing activities
(281,060)
8,403 
(23,270)
Financing Activities
 
 
 
Payments of Ordinary Dividends, Preferred Stock and Preference Stock
(32)
0 
0 
Cash dividends paid
(19,858)
(38,824)
(10,660)
Repayment of long-term subordinated debt
(51,000)
0 
(25,774)
Purchase and retirement of common stock
(429)
0 
(32)
Proceeds from exercise of stock options
1,092 
713 
848 
Excess tax benefit from stock-based compensation
1,203 
0 
98 
Net cash provided by financing activities
(132,941)
76,335 
(282,995)
Increase (decrease) in cash and cash equivalents
(334,365)
219,637 
(219,841)
Cash and cash equivalents at beginning of period
513,926 
294,289 
514,130 
Cash and cash equivalents at end of period
179,561 
513,926 
294,289 
Parent [Member]
 
 
 
Operating Activities
 
 
 
Net Income (Loss)
60,016 
46,143 
48,037 
Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Equity in undistributed earnings of subsidiaries
119,533 
2,020 
(49,180)
Stock-based compensation expense
2,844 
1,622 
1,635 
Net changes in other assets and liabilities
6,830 
(264)
315 
Net cash provided by operating activities
189,223 
49,521 
807 
Net cash acquired in business combinations
(53,159)
0 
0 
Investing Activities
 
 
 
Proceeds from termination of trust subsidiaries
0 
0 
774 
Net cash provided by investing activities
(53,159)
0 
774 
Financing Activities
 
 
 
Payments of Ordinary Dividends, Preferred Stock and Preference Stock
(32)
0 
0 
Cash dividends paid
(19,858)
(38,824)
(10,660)
Repayment of long-term subordinated debt
(51,000)
0 
(25,774)
Purchase and retirement of common stock
(429)
0 
(32)
Proceeds from exercise of stock options
1,092 
713 
848 
Downstream stock offering proceeds to the Bank
(100,000)
0 
(50,000)
Excess tax benefit from stock-based compensation
1,203 
0 
98 
Net cash provided by financing activities
(169,024)
(38,111)
(85,520)
Increase (decrease) in cash and cash equivalents
(32,960)
11,410 
(83,939)
Cash and cash equivalents at beginning of period
86,644 
75,234 
159,173 
Cash and cash equivalents at end of period
$ 53,684 
$ 86,644 
$ 75,234 
Summary Of Quarterly Financial Information (Unaudited) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Quarterly Financial Information Disclosure [Abstract]
 
 
 
 
 
 
 
 
 
 
 
Total interest income
$ 78,307 
$ 81,599 
$ 82,268 
$ 54,761 
$ 57,209 
$ 59,469 
$ 62,114 
$ 69,712 
$ 296,935 
$ 248,504 
$ 251,271 
Total interest expense
1,098 
1,184 
2,279 
1,279 
2,311 
2,204 
2,413 
2,649 
5,840 
9,577 
14,535 
Net Interest Income
77,209 
80,415 
79,989 
53,482 
54,898 
57,265 
59,701 
67,063 
291,095 
238,927 
236,736 
Provision for loan and lease losses
(2,100)
4,260 
2,000 
(1,000)
2,350 
2,875 
3,750 
4,500 
3,160 
13,475 
 
Provision for losses on covered loans
(1,582)
(947)
(1,712)
980 
2,511 
(3,992)
11,688 
15,685 
(3,261)
25,892 
 
Noninterest income (loss)
10,612 
7,622 
6,808 
1,658 
6,567 
(911)
11,828 
9,574 
26,700 
27,058 
(9,283)
Noninterest expense
63,619 
64,714 
64,504 
38,049 
37,800 
40,936 
39,825 
44,352 
230,886 
162,913 
155,759 
Income before income taxes
27,884 
20,010 
22,005 
17,111 
18,804 
16,535 
16,266 
12,100 
87,010 
63,705 
65,942 
Income tax expense (benefit)
7,911 
6,734 
7,414 
4,935 
5,342 
4,655 
4,367 
3,198 
26,994 
17,562 
17,905 
Net Income (Loss)
$ 19,973 
$ 13,276 
$ 14,591 
$ 12,176 
$ 13,462 
$ 11,880 
$ 11,899 
$ 8,902 
$ 60,016 
$ 46,143 
$ 48,037 
Per Common Share
 
 
 
 
 
 
 
 
 
 
 
Earnings (basic)
$ 0.39 1
$ 0.26 1
$ 0.28 1
$ 0.31 1
$ 0.34 1
$ 0.30 1
$ 0.30 1
$ 0.22 1
$ 1.24 1
$ 1.16 1
$ 1.22 
Earnings (diluted)
$ 0.38 1
$ 0.25 1
$ 0.28 1
$ 0.31 1
$ 0.34 1
$ 0.30 1
$ 0.30 1
$ 0.22 1
$ 1.21 1
$ 1.16 1
$ 1.21