BBCN Bancorp Reports Solid 2013 Third Quarter Financial Results

BBCN Bancorp Reports Solid 2013 Third Quarter Financial Results

Q3 2013 Summary:

  *Net income totals $23.6 million, or $0.30 per diluted common share
  *Completed the acquisition of Chicago-based Foster Bankshares on August 13,
    2013
  *Gross loans increase to $4.90 billion, reflecting a 14% increase
    year-to-date
  *New loan production for the quarter amounts to $388 million
  *Total deposits increase to $5.02 billion, reflecting a 15% increase
    year-to-date
  *Total assets increase to $6.34 billion, reflecting a 12% increase
    year-to-date

LOS ANGELES, Oct. 21, 2013 (GLOBE NEWSWIRE) -- BBCN Bancorp, Inc. (the
"Company") (Nasdaq:BBCN), the holding company of BBCN Bank (the "Bank"), today
reported solid financial results for the third quarter of 2013, with net
income totaling $23.6 million, or $0.30 per diluted common share. This
reflects increases of 4% and 28%, respectively, over the net income in the
preceding 2013 second quarter and 2012 third quarter.

"We are very pleased with the consistency of the progress we are making with
our corporate objectives," said Kevin S. Kim, Chairman and Chief Executive
Officer of BBCN Bancorp, Inc. "The Foster Bankshares transaction marked BBCN's
second strategic acquisition, strengthening our presence in existing markets.
The addition of eight branches in Illinois, along with an entry point to the
Washington, D.C. market, positions BBCN as the dominant Korean-American bank
in all five of our core geographic markets.

"In terms of financial performance, BBCN's 2013 third quarter reflects
positive trends in most areas of our operations. The Company's total assets
grew 8% linked quarter, largely due to the combination of Foster. This growth
was further supplemented by new loan originations of $388 million for the
three-month period ended September 30, 2013. Our core net interest margin held
steady during the quarter and contributed to strong profitability levels.
Pre-tax pre-provision earnings amounted to 2.56% of average assets on an
annualized basis, and the return on average equity was 12.70%. All together
with meaningful improvements in our asset quality on a core basis, we believe
the earnings power of BBCN grows stronger each quarter, ultimately enhancing
our ability to provide greater returns for all of our stakeholders," said Kim.

Financial Highlights

(Dollars in thousands, except per share    Three Months Ended
data)
                                          9/30/2013   6/30/2013   9/30/2012
Net income                                 $23,552   $22,671   $18,398
Diluted earnings per share                 $0.30     $0.29     $0.24
Net interest income before provision for   $64,360   $62,103   $58,231
loan losses
Net interest margin                        4.42%       4.49%       4.79%
Noninterest income                         $10,799   $10,618   $7,664
Noninterest expense                        $35,746   $34,429   $28,770
Net loans receivable                       $4,833,224 $4,446,447 $4,003,542
Deposits                                   $5,021,102 $4,576,799 $4,052,524
Nonaccrual loans ^(1)                      $36,129   $44,987   $31,100
ALLL to gross loans                        1.34%       1.59%       1.62%
ALLL to nonaccrual loans ^(1)              181.89%     159.32%     212.06%
ALLL to nonperforming assets ^(1)          47.18%      65.40%     84.41%
Provision for loan losses                  $744      $800      $6,900
Net charge offs                            $6,704    $2,393    $6,453
ROA ^(2)                                   1.53%       1.54%       1.42%
ROE ^(2)                                   12.70%     11.58%      10.11%
Efficiency ratio                           47.56%      47.34%      43.66%

^(1) Excludes delinquent SBA loans that are guaranteed and currently in
liquidation totaling $25.2 million, $21.0 million and $17.3 million at the
close of the 2013 third quarter, 2013 second quarter and 2012 third quarter,
respectively.

^(2) Based on net income before effects of dividends and discount accretion on
preferred stock.

Operating Results for the Third Quarter of 2013

The comparability of BBCN's operating results with past performance is
impacted by acquisition accounting adjustments related to the acquisitions of
Center Financial Corporation on November 30, 2011, Pacific International
Bancorp on February 15, 2013 and Foster Bankshares on August 13, 2013.The
Company believes the following supplemental information will be helpful in
understanding past financial performance.Operating results for the three
months ended September 30, 2013, June 30, 2013 and September 30, 2012 include
the following pre-tax acquisition accounting adjustments related to mergers.

The increase (decrease) of major adjustments to pre-tax income is summarized
below.The impact which these adjustments have to certain yields and costs are
described in subsequent sections of this release.

                                         Three Months Ended
                                         September 30, June 30, September 30,
                                         2013          2013     2012
Accretion of discount on acquired         4,074         6,637    4,890
performing loans
Accretion of discount on acquired credit  2,806         1,032    1,215
impaired loans
Amortization of premium on acquired FHLB  94            92       307
borrowings
Accretion of discount on acquired         (81)          (48)     (37)
subordinated debt
Amortization of premium on acquired time  308           247      650
deposits
Increase to pre-tax income                $7,201      $7,960 $7,025

In addition to the items listed above, acquisition accounting adjustments had
the effect of reducing the yield on acquired securities portfolios.

Net Interest Income and Net Interest Margin.The following table summarizes
the reported net interest income before provision for loan losses.

                                  Three Months Ended
                                  9/30/2013 6/30/2013 %      9/30/2012 %
                                                       change           change
Net interest income before         $64,360   $62,103   4%     $58,231   11%
provision for loan losses

Third quarter 2013 net interest income before provision for loan losses
increased 4% over the preceding second quarter and rose 11% over the
prior-year third quarter.The Company attributed the increases in net interest
income to higher levels of interest income on loans as a result of organic and
strategic loan growth.

The net interest margin (net interest income divided by average
interest-earning assets) and the impact of acquisition accounting adjustments
are summarized in the following table:

                                Three Months Ended
                                9/30/2013 6/30/2013 change  9/30/2012 change
Net interest margin, excluding
the effect of acquisition        3.86%     3.86%     —%      4.14%     (0.28)%
accounting adjustments
Acquisition accounting           0.56      0.63      (0.07)  0.65      (0.09)
adjustments
Reported net interest margin     4.42%     4.49%     (0.07)% 4.79%     (0.37)%

The net interest margin for the 2013 third quarter equaled 4.42%, down 7 basis
points from the preceding second quarter.On a core basis, excluding the
effect of acquisition accounting adjustments, the net interest margin for the
2013 third quarter was stable compared with the preceding second
quarter.Compared with the prior-year period, net interest margin for the 2013
third quarter declined 37 basis points.Excluding the effect of acquisition
accounting adjustments, the core net interest margin for the third quarter of
2013 declined 28 basis points from the year-ago period.The declines largely
reflect decreases in the weighted average yield on loans.

The weighted average yield on loans and the impact of acquisition accounting
adjustments are summarized in the following table:

                                Three Months Ended
                                9/30/2013 6/30/2013 change  9/30/2012 change
The weighted average yield on
loans, excluding the effect of   4.96%     5.02%     (0.06)% 5.39%     (0.43)%
acquisition accounting
adjustments
Acquisition accounting           0.67      0.76      (0.09)  0.72      (0.05)
adjustments
Reported weighted average yield  5.63%     5.78%     (0.15)% 6.11%     (0.48)%
on loans

The weighted average yield on loans for the 2013 third quarter decreased 15
basis points from the preceding second quarter, but decreased only 6 basis
points on a core basis, excluding acquisition accounting adjustments.The
weighted average yield on new loans originated during the 2013 second quarter
was 4.44%, compared with 4.71% for the preceding second quarter.

Compared with the prior-year period, the weighted average yield on loans for
the 2013 third quarter decreased 48 basis points and 43 basis points on a core
basis, excluding acquisition accounting adjustments.The reductions reflect
reductions in the market rates versus the year-ago period.

The composition of fixed and variable rate loans and the associated weighted
average yield, excluding the effect of loan discount accretion, is summarized
in the following table:

                              9/30/2013 6/30/2013 change  9/30/2012 change
Fixed rate loans                                                 
As a percentage of total loans 45%       40%       5%      38%       7.00%
Weighted average yield         5.16%     5.31%     (0.15)% 5.97%     (0.81)%
Variable rate loans                                              
As a percentage of total loans 55%       60%       (5)%    62%       (7.00)%
Weighted average yield         4.43%     4.50%     (0.07)% 4.57%     (0.14)%

The sequential decrease in the weighted average yield for fixed rate loans for
the 2013 third quarter reflects the highly competitive rate environment for
fixed rate commercial real estate loans in the current interest rate
environment.

The weighted average yield on securities available for sale is summarized in
the following table:

                                 Three Months Ended
                                 9/30/2013 6/30/2013 change 9/30/2012 change
Weighted average yield on         2.13%     2.00%     0.13%  2.23%     (0.10)%
securities available for sale

The weighted average yield on securities available for sale for the 2013 third
quarter increased 13 basis points from the preceding second quarter, but
declined 10 basis points from the year-ago third quarter.

The weighted average duration and average life of the securities
available-for-sale are summarized in the following table:

                                  Three Months Ended
                                  9/30/2013 6/30/2013 %      9/30/2012 %
                                                       change           change
Weighted average duration of
securities available for sale in   4.81      4.54      5.95%  3.23      48.92%
years
Weighted average life of
securities available for sale in   5.50      5.11      7.63%  3.47      58.50%
years

The weighted average cost of deposits and the impact of acquisition accounting
adjustments are summarized in the following table:

                                      

                                 Three Months Ended
                                 9/30/2013 6/30/2013 change 9/30/2012 change
The weighted average cost of
deposits, excluding the effect of 0.51%     0.51%     —%     0.59%     (0.08)%
acquisition accounting
adjustments
Acquisition accounting            (0.02)    (0.02)    —      (0.07)    0.05
adjustments
Reported weighted average cost of 0.49%     0.49%     —%     0.52%     (0.03)%
deposits

The weighted average cost of deposits for the 2013 third quarter was stable
with the preceding second quarter, both on a reported and on a core basis,
excluding the amortization of premium on time deposits assumed in mergers.

Compared with the prior-year period, the weighted average cost of deposits for
the 2013 third quarter improved 3 basis points, and improved 8 basis points on
a core basis, excluding the effect of premium amortization on time deposits
assumed in mergers.

The weighted average cost of FHLB advances and the impact of acquisition
accounting adjustments are summarized in the following table:

                                 Three Months Ended
                                 9/30/2013 6/30/2013 change 9/30/2012 change
The weighted average cost of FHLB
advances, excluding the effect of 1.27%     1.25%     0.02%  1.87%     (0.60)%
acquisition accounting
adjustments
Acquisition accounting            (0.09)    (0.09)    —      (0.31)    0.22
adjustments
Reported weighted average cost of 1.18%     1.16%     0.02%  1.56%     (0.38)%
FHLB advances

For the third quarter of 2013, the weighted average cost of FHLB advances
increased 2 basis points over the preceding second quarter, both on a reported
and on a core basis, excluding the effect of acquisition accounting
adjustments.During the 2013 third quarter, the Company added $15.0 million in
new FHLB borrowings at a weighted average rate of 1.76%, and the weighted
average maturity of these new borrowings was 5.00 years. These new borrowings
replaced $15.0 million of FHLB borrowings with a weighted average rate of
3.89%, which matured during the third quarter 2013.

Compared with the prior-year period, the weighted average cost of FHLB
advances decreased 38 basis points, and declined 60 basis points on a core
basis, excluding the effect of acquisition accounting adjustments.The
decreases reflect the addition of $255.0 million in new FHLB borrowings of a
weighted average rate of 0.70%, which rate is substantially lower than the
weighted average rate of the remaining borrowings. The weighted average
original maturity of the new borrowings was 2.27 years. In addition, a total
of $294.0 million of FHLB borrowings, with a weighted average rate of 1.12%,
matured over the past twelve months.

Noninterest Income.Total noninterest income for the 2013 third quarter
amounted to $10.8 million, reflecting a 2% increase over the preceding second
quarter and a 41% increase over the prior-year third quarter.

The various noninterest income items are summarized in the following table:

(In thousands)                     Three Months Ended
                                  9/30/2013 6/30/2013 %      9/30/2012 %
                                                       change           change
Service fees on deposit accounts   $3,321    $2,922    14%    $3,121    6%
Net gains on sales of SBA loans    2,827     3,295     (14)%  —         n/a
Net gains on sale of other loans   —         19        (100)% —         n/a
Net gain on sales of securities    —         —         —%     133       (100)%
available for sale
Net valuation gains on interest    —         —         —%     11        (100)%
swaps and caps
Net gains (losses) on sales of     (48)      (11)      336%   (12)      300%
OREO
Other income and fees              4,699     4,393     7%     4,411     7%
Total noninterest income           $10,799   $10,618   2%     $7,664    41%

The 2% increase in noninterest income over the preceding second quarter
largely reflects the completion of the Foster Bankshares transaction on August
13, 2013, offset by a decline in net gains on sale of SBA loans.The 41%
increase in total noninterest income for the 2013 third quarter over the
prior-year period is predominantly due to no gains on sale of SBA loans during
the 2012 third quarter, as the Company did not sell any SBA loans to the
secondary market.During the 2013 third quarter, $36.8 million in SBA loans
was sold to the secondary market and the Company posted a net gain on sale of
SBA loans of $2.8 million.

Noninterest Expense. Total noninterest expense for the third quarter of 2013
amounted to $35.7 million, reflecting a 4% increase over the preceding second
quarter and a 24% increase over the prior-year third quarter.

The various noninterest expense items are summarized in the following table:

(In thousands)                  Three Months Ended
                                                   %                %
                               9/30/2013 6/30/2013 change 9/30/2012 change
Salaries and employee benefits  $16,535  $16,219  2%     $13,611  21%
Occupancy                       4,360      4,835      (10)%  3,910      12%
Furniture and equipment         1,728      1,613      7%     1,495      16%
Advertising and marketing       1,393      1,190      17%    1,159      20%
Data processing and             1,983      1,861      7%     1,659      20%
communications
Professional fees               1,440      1,443      —%     876        64%
FDIC assessment                 818        858        (5)%   644        27%
Merger and integration expenses 931        385        142%   183        409%
Other                           6,558      6,025      9%     5,233      25%
Total noninterest expense       $35,746  $34,429  4%     $28,770  24%

The Company noted that salaries and benefits expense for the 2013 third
quarter includes the increase in full-time equivalent employees (FTEs) as a
result of the Foster Bankshares transaction completed mid-quarter on August
13, 2013.Compared with the prior-year third quarter, the 21% increase in
salaries and benefits expense for the 2013 third quarter reflects the increase
of FTEs related to Foster, as well as the acquisition of Pacific International
Bancorp completed February 15, 2013.The number of FTEs was 831 as of
September 30, 2013, 749 as of June 30, 2013, and 684 as of September 30,
2012.

In addition, operating results were impacted by merger and integration related
expenses, which totaled $931,000, $385,000, and $183,000 for the 2013 third
quarter, 2013 second quarter and 2012 third quarter, respectively.Merger and
integration related expenses for the 2013 third quarter included expenses
associated with the completion and integration of Foster Bankshares.

Income Tax Provision.The effective tax rate for the 2013 third quarter was
39.1%, compared with 39.5% for preceding second quarter and 39.1% for the 2012
third quarter.

Balance Sheet Summary

Gross loans receivable totaled $4.90 billion at September 30, 2013, reflecting
an 8% increase over $4.52 billion at June 30, 2013 and an increase of 20% over
$4.07 billion a year earlier at September 30, 2012.

Total new loan originations during the third quarter of 2013 amounted to
$387.6 million, including SBA loan originations of $72.7 million. Sales of SBA
loans to the secondary market and gains derived from those sales are based
substantially on the production of SBA 7(a) loans. Production of SBA 7(a)
loans amounted to $45.6 million for the third quarter of 2013, compared with
$32.3 million for the preceding second quarter.During the 2013 third quarter,
the Company sold $36.8 million of its SBA loans held for sale.

Aggregate pay-offs and pay-downs during the 2013 third quarter amounted to
$266.1 million, compared with $222.8 million for the preceding second quarter
and $145.1 million for the year-ago third quarter.

Total deposits amounted to $5.02 billion at September 30, 2013, compared with
$4.58 billion at June 30, 2013 and $4.05 billion a year earlier at September
30, 2012.The increase over the preceding second quarter is predominantly
attributed to higher balances in noninterest-bearing demand deposits and jumbo
time deposits, largely as a result of the Foster
transaction.Noninterest-bearing deposits at September 30, 2013 totaled $1.36
billion and accounted for 27% of total deposits.

Credit Quality

The provision for loan losses for the 2013 third quarter was $744,000,
compared with $800,000 for the preceding second quarter and $6.9 million for
prior-year third quarter.

For a more detailed understanding of the changes in the Allowance for Loan and
Lease Losses ("ALLL"), the composition of the ALLL has been segmented for
disclosure purposes between loans accounted for under the amortized cost
method (referred to as "Legacy Loans") and loans acquired through the Center
Financial, Pacific International and Foster transactions (referred to as
"Acquired Loans").The Acquired Loans are further segregated between
performing and credit impaired loans.

The composition of ALLL for the three months ended September 30, 2013, June
30, 2013 and September 30, 2012 is as follows:

(dollars in thousands)                     9/30/2013   6/30/2013   9/30/2012
Legacy Loans ^(1)                          $59,773   $61,316   $61,835
Acquired Loans - Performing ^(2)           1,964       5,825       2,005
Acquired Loans - Credit Impaired ^(2)      3,978       4,534       2,112
Total ALLL                                 $65,715   $71,675   $65,952
                                                                
Gross loans, net of deferred loan fees and $4,898,939 $4,518,122 $4,069,494
costs
ALLL coverage ratio                        1.34%       1.59%       1.62%

^(1) Legacy Loans include loans originated by the Bank's predecessor bank,
loans originated by BBCN, and loans that were acquired and that have been
refinanced as new loans.

^(2)Acquired Loans were marked to fair value at acquisition date, and their
allowance for loan losses reflect provisions for credit deterioration since
the acquisition date.

Following are the special mention, classified and total criticized loan
balances as of September 30, 2013, June 30, 2013 and September 30, 2012:

(dollars in thousands) 9/30/2013 6/30/2013 9/30/2012
Special Mention ^(1)   $ 111,631 $ 108,788 $ 95,962
Classified ^(1)        $ 246,743 $ 220,677 $ 198,445
Total Criticized       $ 358,374 $ 329,465 $ 294,407

^(1) Balances include Acquired Loans which were marked to fair value on the
date of acquisition.

Excluding the impact of the Foster acquisition, the Company's special mention,
classified and total criticized loan balances as of September 30, 2013 would
have declined on a sequential quarter basis to $99.0 million, $204.5 million
and $303.5 million, respectively.

The Company defines nonperforming loans to include delinquent loans past due
90 days or more on nonaccrual status, delinquent loans past due 90 days or
more on accrual status (the preponderance of which reflects acquired
nonperforming loan balances), and accruing restructured loans.Nonperforming
loans at September 30, 2013 totaled $111.7 million, or 2.28% of total loans,
including the addition of $25.9 million of delinquent loans on accrual status
related to the Foster transaction.This compares with $100.0 million, or 2.21%
of total loans, at June 30, 2013.

Nonperforming assets at September 30, 2013 amounted to $139.3 million, or
2.20% of total assets, including the addition of $17.7 million in other real
estate owned related to the Foster transaction.This compares with $109.6
million, or 1.87% of total assets, at June 30, 2013.

Net loan charge offs for the third quarter of 2013 totaled $6.7 million, or
0.56% of average loans on an annualized basis.Charge offs for the current
third quarter included a $5.0 million commercial real estate-related charge
off, which was fully reserved for during the first quarter of 2013.In
addition, a $500,000 charge off was recorded in the quarter related to one
pool of acquired credit impaired loans.The loss on this pool of loans had
been fully reserved since early 2012.For the preceding 2013 second quarter,
net loan charge offs totaled $2.4 million, or 0.21% of average loans on an
annualized basis.

The allowance for loan losses at September 30, 2013 was $65.7 million, or
1.34% of gross loans receivable (excluding loans held for sale), compared with
$71.7 million, or 1.59%, at June 30, 2013. The coverage ratio of the
allowance for loan losses to nonperforming loans (excluding acquired loans
past due 90 days or more on accrual status) was 91.1% at September 30, 2013,
compared with 88.3% at June 30, 2013.

Impaired loans (defined as loans for which it is probable that not all
principal and interest payments due will be collectible in accordance with the
contractual terms) rose slightly to $99.2 million at September 30, 2013 from
$98.2 million at June 30, 2013.

Specific reserves for impaired loans at September 30, 2013 totaled $11.0
million, or 11.1% of the aggregate impaired loan amount, compared with $15.1
million, or 15.4% of the aggregate impaired loan amount, at June 30,
2013.Excluding specific reserves for impaired loans, the allowance coverage
on the remaining loan portfolio was 1.14% at September 30, 2013, compared with
1.28% at June 30, 2013.

Capital

At September 30, 2013, the Company continued to exceed all regulatory capital
requirements to be classified as a "well-capitalized" institution, as
summarized in the following table.

                       9/30/2013 6/30/2013 9/30/2012
Leverage Ratio          12.14%    12.61%    13.15%
Tier 1 Risk-based Ratio 13.74%    14.89%    15.22%
Total Risk-based Ratio  14.99%    16.14%    16.48%

Tangible common equity per share and as a percentage of tangible assets are
summarized in the following table:

                                              9/30/2013 6/30/2013 9/30/2012
Tangible common equity per share ^(1)          $8.52     $8.65     $8.21
Tangible common equity to tangible assets ^(1) 10.87%    11.88%    12.23%

^(1) Tangible common equity to tangible assets is a non-GAAP financial measure
that represents common equity less goodwill and net other intangible assets
divided by total assets less goodwill and net other intangible
assets.Management reviews tangible common equity to tangible assets in
evaluating the Company's capital levels and has included this ratio in
response to market participant interest in tangible common equity as a measure
of capital.The accompanying financial information includes a reconciliation
of the ratio of tangible common equity to tangible assets with stockholders'
equity and total assets.

Investor Conference Call

The Company will host an investor conference call on Tuesday, October 22, 2013
at 9:30 a.m. Pacific Time / 12:30 p.m. Eastern Time to review financial
results for the third quarter of 2013.Investors and analysts may access the
conference call by dialing 877-415-3184 (domestic) or 857-244-73
(international), passcode 98283896.Other interested parties are invited to
listen to a live webcast of the call available at the Investor Relations
section of BBCN Bancorp's website at BBCNbank.com.

After the live webcast, a replay will be archived in the Investor Relations
section of BBCN Bancorp's website for one year.A telephonic replay of the
call will be available at 888-286-8010 (domestic) or 617-801-6888
(international) through October 29, 2013, passcode 86493271.

About BBCN Bancorp, Inc.

BBCN Bancorp, Inc. is the holding company of BBCN Bank, the largest
Korean-American bank in the nation with $6.3 billion in assets as of September
30, 2013. Headquartered in Los Angeles and serving a diverse mix of customers
mirroring its communities, BBCN operates 50 branches in California, New York,
New Jersey, Illinois, Washington and Virginia, along with six loan production
offices in Seattle, Denver, Dallas, Atlanta, Northern California and
Annandale, Virginia. BBCN specializes in core business banking products for
small and medium-sized businesses, with an emphasis in commercial real estate
and business lending, SBA lending and international trade financing. BBCN Bank
is a California-chartered bank and its deposits are insured by the FDIC to the
extent provided by law. BBCN is an Equal Opportunity Lender.

Forward-Looking Statements

This press release contains forward-looking statements, including statements
about future operations and projected full-year financial results that are
subject to risks and uncertainties that could cause actual results to differ
materially from those expressed or implied by such forward looking statements.
These risks and uncertainties include but are not limited to economic,
competitive, governmental and technological factors affecting the Company's
operations, markets, products, services, and pricing. Readers should carefully
review the risk factors and the information that could materially affect the
Company's financial results and business, described in documents the Company
files from time to time with the Securities and Exchange Commission, including
its quarterly reports on Form 10-Q and Annual Reports on Form 10-K, and
particularly the discussions of business considerations and certain factors
that may affect results of operations and stock price set forth therein.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release. The Company
undertakes no obligation to revise or publicly release the results of any
revision to these forward-looking statements.

                               (tables follow)

BBCN Bancorp, Inc.
Consolidated Statements of Financial Condition
Unaudited (Dollars in Thousands, Except per Share Data)
                                                                                                     
                                                                                                     
Assets             9/30/2013    6/30/2013    % change  12/31/2012   % change  9/30/2012    % change          
                                                                                                     
Cash and due from  $345,352   $296,330   17%       $312,916   10%       $229,643   50%               
banks
Securities
available for      708,566     725,239     -2%       704,403     1%        687,059     3%                
sale, at fair
value
Federal Home Loan
Bank and Federal   27,958      26,261      6%        22,495      24%       23,500      19%               
Reserve Bank stock
Loans held for
sale, at the lower 49,480      43,111      15%       51,635      -4%       58,484      -15%              
of cost or fair
value
Loans receivable   4,898,939   4,518,122   8%        4,296,252   14%       4,069,494   20%               
Allowance for loan (65,715)    (71,675)    8%        (66,941)    2%        (65,952)    0%                
losses
Net loans          4,833,224   4,446,447   9%        4,229,311   14%       4,003,542   21%               
receivable
Accrued interest   13,108      13,054      0%        12,117      8%        12,881      2%                
receivable
Premises and       29,747      23,226      28%       22,609      32%       22,672      31%               
equipment, net
Bank owned life    44,593      44,400      0%        43,767      2%        43,416      3%                
insurance
Goodwill           119,881     92,288      30%       89,878      33%       89,882      33%               
Other intangible   5,563       3,125       78%       3,033       83%       3,335       67%               
assets, net
Other assets       163,515     149,533     9%        148,497     10%       157,565     4%                
Total assets       $6,340,987 $5,863,014 8%        $5,640,661 12%       $5,331,979 19%               
                                                                                                     
Liabilities                                                                                           
                                                                                                     
Deposits           $5,021,102 $4,576,799 10%       $4,384,035 15%       $4,052,524 24%               
Borrowings from
Federal Home Loan  421,446     421,539     0%        420,722     0%        460,815     -9%               
Bank
Subordinated       57,303      41,920      37%       41,846      37%       41,809      37%               
debentures
Accrued interest   4,827       4,499       7%        4,355       11%       5,451       -11%              
payable
Other liabilities  35,079      37,232      -6%       38,599      -9%       36,925      -5%               
Total liabilities  5,539,757   5,081,989   9%        4,889,557   13%       4,597,524   20%               
                                                                                                     
Stockholders'                                                                                         
Equity
                                                                                                     
Common stock,
$0.001 par value;
authorized,
150,000,000 shares
at September 30,
2013, June 30,
2013, December 31,
2012 and September
30, 2012; issued
and outstanding,   79          79          0%        78          1%        78          1%                
79,247,719,
79,205,840,
78,041,511, and
78,016,260 at
September 30,
2013, June 30,
2013, December 31,
2012, and
September 30,
2012, respectively
Capital surplus    538,062     537,085     -100%     525,354     -100%     524,608     -100%             
Retained earnings  266,478     248,866     7%        216,590     23%       198,964     34%               
Accumulated other
comprehensive      (3,389)     (5,005)     -32%      9,082       -137%     10,805      -131%             
income, net
Total
stockholders'      801,230     781,025     3%        751,104     7%        734,455     9%                
equity
                                                                                                     
Total liabilities
and stockholders'  $6,340,987 $5,863,014 8%        $5,640,661 12%       $5,331,979 19%               
equity
                                                                                                     
                  Three Months Ended                                         Nine Months Ended               
                  9/30/2013    6/30/2013    % change  9/30/2012    % change  9/30/2013    9/30/2012   %      
                                                                                                       change
                                                                                                     
Interest income:                                                                                      
Interest and fees  $67,747    $65,473    3%        $61,553    10%       $196,249   $187,476  5%     
on loans
Interest on        3,802       3,526       8%        3,782       1%        10,755      12,940     -17%   
securities
Interest on
federal funds      486         380         28%       120         305%      1,153       537        115%   
soldand other
investments
Total interest     72,035      69,379      4%        65,455      10%       208,157     200,953    4%     
income
                                                                                                     
Interest expense:                                                                                     
Interest on        5,959       5,647       6%        5,214       14%       17,014      15,862     7%     
deposits
Interest on other  1,716       1,629       5%        2,010       -15%      4,964       6,499      -24%   
borrowings
Total interest     7,675       7,276       5%        7,224       6%        21,978      22,361     -2%    
expense
                                                                                                     
Net interest
income before      64,360      62,103      4%        58,231      11%       186,179     178,592    4%     
provision for loan
losses
Provision for loan 744         800         -7%       6,900       -89%      9,050       16,682     -46%   
losses
Net interest
income after       63,616      61,303      4%        51,331      24%       177,129     161,910    9%     
provision for loan
losses
                                                                                                     
Non-interest                                                                                          
income:
Service fees on    3,321       2,922       14%       3,121       6%        9,118       9,550      -5%    
deposit accounts
Net gains on sales 2,827       3,295       -14%      --         0%        8,816       5,426      62%    
of SBA loans
Net gains on sales --         19          -100%     --         0%        62          146        -58%   
of other loans
Net gains on sales
of securities      --         --         0%        133         -100%     54          949        -94%   
available-for-sale
Net valuation
gains on interest  --         --         0%        11          -100%     --         24         -100%  
swaps and caps
Net gains(loss) on (48)        (11)        336%      (12)        300%      (57)        41         -239%  
sales of OREO
Other income and   4,699       4,393       7%        4,411       7%        13,364      13,395     0%     
fees
Total non-interest 10,799      10,618      2%        7,664       41%       31,357      29,531     6%     
income
                                                                                                     
Non-interest                                                                                          
expense:
Salaries and       16,535      16,219      2%        13,611      21%       49,086      42,348     16%    
employee benefits
Occupancy          4,360       4,835       -10%      3,910       12%       13,206      11,788     12%    
Furniture and      1,728       1,613       7%        1,495       16%       4,914       4,181      18%    
equipment
Advertising and    1,393       1,190       17%       1,159       20%       3,856       4,142      -7%    
marketing
Data processing    1,983       1,861       7%        1,659       20%       5,488       4,843      13%    
and communications
Professional fees  1,440       1,443       0%        876         64%       4,184       2,558      64%    
FDIC assessment    818         858         -5%       644         27%       2,370       1,732      37%    
Merger and
integration        931         385         142%      183         409%      2,621       3,304      -21%   
expenses
Other              6,558       6,025       9%        5,233       25%       17,725      15,386     15%    
Total non-interest 35,746      34,429      4%        28,770      24%       103,450     90,282     15%    
expense
Income before      38,669      37,492      3%        30,225      28%       105,036     101,159    4%     
income taxes
Income tax         15,117      14,821      2%        11,827      28%       41,352      39,463     5%     
provision
Net income         $23,552    $22,671    4%        $18,398    28%       $63,684    $61,696   3%     
Dividends and
discount accretion $--       $--       0%        $--       0%        $--       $(5,640)  -100%  
on preferred stock
Net income
available to       $23,552    $22,671    4%        $18,398    28%       $63,684    $56,056   14%    
common
stockholders
                                                                                                     
Earnings Per                                                                                          
Common Share:
Basic              $0.30      $0.29               $0.24               $0.81      $0.72           
Diluted            $0.30      $0.29               $0.24               $0.80      $0.72           
                                                                                                     
Average Shares                                                                                        
Outstanding:
Basic              79,223,636  79,062,233           78,015,960           78,914,360  78,004,458       
Diluted            79,334,865  79,236,732           78,103,795           79,122,060  78,082,059       
                                                                                                     
                                                                                                     
                  Three months ended                                         Nine Months Ended              
                  9/30/2013    6/30/2013    3/31/2013 12/31/2012   9/30/2012 9/30/2013    9/30/2012         
                                                                                                     
Net Income         $23,552    $22,671    $17,461 $21,527    $18,398 $63,684    $61,696         
Add back: Income   15,117      14,821      11,414   14,947      11,827   41,352      39,463           
tax
Add back:
Provision for loan 744         800         7,506    2,422       6,900    9,050       16,682           
losses
Pre-tax,
pre-provision      $39,413    $38,292    $36,381 $38,896    $37,125 $114,086   $117,841        
income (PTPP) ^1
PTPP to average
assets             2.56%        2.60%        2.54%     2.83%        2.87%     2.57%        3.06%             
(annualized)
                                                                                                     
^1 While pre-tax, pre-provision income is a non-GAAP performance measure, we believe it is a useful
measure in analyzing underlying performance trends, particularly in times of economic stress. It is          
the level of earnings adjusted to exclude the impact of income tax and provision expense.
                                                                                                     
                   (Annualized)                                               (Annualized)
                  At or for the Three Months Ended                         At or for the Nine             
                                                                              Months Ended
Profitability      9/30/2013    6/30/2013    9/30/2012                      9/30/2013    9/30/2012         
measures:
ROA ^2             1.53%        1.54%        1.42%                          1.43%        1.60%             
ROE ^2             12.70%       11.58%       10.11%                         11.34%       10.47%            
Return on average
tangible equity    15.08%       13.21%       11.60%                         13.14%       11.89%            
^2,3
Net interest       4.42%        4.49%        4.79%                          4.46%        4.97%             
margin
Efficiency ratio   47.56%       47.34%       43.66%                         47.56%       43.38%            
                                                                                                     
                                                                                                     
^2 Based on
netincome before
effect of                                                                                             
dividends and
discount accretion
on preferred stock
^3 Average tangible equity is calculated by subtracting average goodwill and
average other intangibles from average stockholders' equity. This is non-GAAP                              
measure that we believe provides investors with information that is useful in
understanding our financial performance and position.
                                                                                                          

                   Three Months Ended                     Three Months Ended                   Three Months Ended
                   9/30/2013                              6/30/2013                            9/30/2012
                                                                                                              
                               Interest     Annualized               Interest   Annualized               Interest  Annualized
                   Average      Income/      Average      Average      Income/    Average      Average      Income/   Average
                   Balance      Expense      Yield/Cost   Balance      Expense    Yield/Cost   Balance      Expense   Yield/Cost
                   (Dollars in thousands)                 (Dollars in thousands)               (Dollars in thousands)                   
INTEREST EARNING                                                                                               
ASSETS:
                                                                                                              
Gross loans,
includes loans held $4,771,022 $67,747    5.63%        $4,546,461 $65,473  5.78%        $4,007,402 $61,553 6.11%
for sale
Securities          714,660     3,802       2.13%        705,479     3,526     2.00%        679,764     3,782    2.23%
available for sale
FRB and FHLB stock
and other           291,672     486         0.65%        296,788     380       0.51%        155,590     120      0.30%
investments
Federal funds sold  --         --         0.00%        --         --       0.00%        --         --      0.00%
Total interest      $5,777,353 $72,035    4.95%        $5,548,728 $69,379  5.01%        $4,842,756 $65,455 5.38%
earning assets
                                                                                                              
INTEREST BEARING                                                                                               
LIABILITIES:
Deposits:                                                                                                      
Demand,             $1,276,732 $1,927     0.60%        $1,285,768 $1,937   0.60%        $1,156,915 $1,775  0.61%
interest-bearing
Savings             204,050     669         1.30%        185,584     721       1.56%        184,219     820      1.77%
Time deposits:                                                                                                 
$100,000 or more    1,380,962   2,361       0.68%        1,252,934   1,975     0.63%        843,388     1,533    0.72%
Other               677,352     1,003       0.59%        652,766     1,013     0.62%        672,861     1,086    0.64%
Total time deposits 2,058,314   3,364       0.65%        1,905,700   2,988     0.63%        1,516,249   2,619    0.69%
Total interest      3,539,095   5,959       0.67%        3,377,052   5,646     0.67%        2,857,383   5,214    0.73%
bearing deposits
FHLB advances       422,084     1,251       1.18%        421,595     1,218     1.16%        407,325     1,603    1.56%
Other borrowings    48,273      465         3.77%        43,559      411       3.73%        40,407      407      3.95%
Total interest      4,009,452   $7,675     0.76%        3,842,206   $7,275   0.76%        3,305,115   $7,224  0.87%
bearing liabilities
Noninterest-bearing 1,306,307                           1,214,984                         1,104,101            
demand deposits
Total funding
liabilities /cost  $5,315,760             0.57%        $5,057,190           0.58%        $4,409,216          0.65%
of funds
Net interest income
/ net interest                  $64,360    4.19%                    $62,104  4.25%                    $58,231 4.51%
spread
Net interest margin                         4.42%                              4.49%                             4.79%
Net interest
margin, excluding
effect of                                   4.42%                              4.49%                             4.79%
nonaccrual loan
income (expense)
Net interest
margin, excluding
effect of
nonaccrual loan                             4.37%                              4.47%                             4.78%
income (expense)
and prepayment fee
income
                                                                                                              
Nonaccrual loan
income (reversed)               $(153)                             $(77)                            $(44)   
recognized
Prepayment fee                  580                                 306                               119      
income received
Net                             $427                               $229                             $75     
                                                                                                              
Cost of deposits:                                                                                              
Noninterest-bearing $1,306,307 $--                   $1,214,984 $--                 $1,104,101 $--    
demand deposits
Interest bearing    3,539,095   5,959       0.67%        3,377,052   5,646     0.66%        2,857,383   5,214    0.73%
deposits
Total deposits      $4,845,402 $5,959     0.49%        $4,592,036 $5,646   0.49%        $3,961,484 $5,214  0.52%
                                                                                                              .
                                                                                                              
                   Nine Months Ended                      Nine Months Ended                                       
                   9/30/2013                              9/30/2012                                                 
                                                                                                              
                               Interest     Annualized               Interest Annualized                        
                   Average      Income/      Average      Average      Income/  Average                           
                   Balance      Expense      Yield/Cost   Balance      Expense  Yield/Cost                        
                   (Dollars in thousands)                 (Dollars in thousands)                                                   
INTEREST EARNING                                                                                               
ASSETS:
                                                                                                              
Gross loans,
includes loans held $4,588,464 $196,249   5.72%        $3,878,080 $187,476 6.46%                             
for sale
Securities          704,124     10,755      2.04%        699,225     12,940    2.47%                             
available for sale
FRB and FHLB stock
and other           282,120     1,153       0.54%        205,540     459       0.29%                             
investments
Federal funds sold  --         --         N/A          15,136      78        0.68%                             
Total interest      $5,574,709 $208,157   4.99%        $4,797,981 $200,953 5.59%                             
earning assets
                                                                                                              
INTEREST BEARING                                                                                               
LIABILITIES:
Deposits:                                                                                                      
Demand,             $1,276,195 $5,736     0.60%        $1,191,213 $5,748   0.64%                             
interest-bearing
Savings             192,006     2,144       1.49%        189,322     2,571     1.81%                             
Time deposits:                                                                                                 
$100,000 or more    1,265,877   6,066       0.64%        806,244     4,428     0.73%                             
Other               675,239     3,068       0.61%        682,903     3,115     0.61%                             
Total time deposits 1,941,116   9,134       0.63%        1,489,147   7,543     0.68%                             
Total interest      3,409,317   17,014      0.67%        2,869,682   15,862    0.74%                             
bearing deposits
FHLB advances       422,205     3,693       1.17%        358,962     4,832     1.79%                             
Other borrowings    44,721      1,271       3.75%        45,981      1,667     4.77%                             
Total interest      3,876,243   $21,978    0.76%        3,274,625   $22,361  0.91%                             
bearing liabilities
Noninterest-bearing 1,220,608                           1,037,152                                              
demand deposits
Total funding
liabilities /cost  $5,096,851             0.58%        $4,311,777           0.69%                             
of funds
Net interest income
/ net interest                  $186,179   4.23%                    $178,592 4.68%                             
spread
Net interest margin                         4.46%                              4.97%                             
Net interest
margin, excluding
effect of                                   4.46%                              4.99%                             
nonaccrual loan
income(expense)
Net interest
margin, excluding
effect of
nonaccrual loan                             4.44%                              4.98%                             
income(expense) and
prepayment fee
income
                                                                                                              
Nonaccrual loan
income (reversed)               $6                                 $(793)                                    
recognized
Prepayment fee                  948                                 433                                        
income received
Net                             $954                               $(360)                                    
                                                                                                              
Cost of deposits:                                                                                              
Noninterest-bearing $1,220,608 $--                   $1,037,152 $--                                      
demand deposits
Interest bearing    3,409,317   17,014      0.67%        2,869,682   15,862    0.74%                             
deposits
Total deposits      $4,629,925 $17,014    0.49%        $3,906,834 $15,862  0.55%                             
                                                                                                              
                   For the Three Months Ended                                   Nine Months Ended                 
                   9/30/2013    6/30/2013    % change     9/30/2012    % change   9/30/2013    9/30/2012    % change  
AVERAGE BALANCES                                                                                               
Gross loans,
includes loans held $4,771,022 $4,546,461 5%           $4,007,402 19%        4,588,464   3,878,080   18%       
for sale
Investments         1,006,332   1,002,267   0%           835,354     20%        986,245     919,901     7%        
Interest-earning    5,777,353   5,548,728   4%           4,842,756   19%        5,574,709   4,797,981   16%       
assets
Total assets        6,160,132   5,880,737   5%           5,102,769   21%        5,924,397   5,140,591   15%       
                                                                                                              
Interest-bearing    3,539,095   3,377,052   5%           2,857,383   24%        3,409,317   2,869,682   19%       
deposits
Interest-bearing    4,009,452   3,842,206   4%           3,305,115   21%        3,876,243   3,274,625   18%       
liabilities
Noninterest-bearing 1,306,307   1,214,984   8%           1,104,101   18%        1,220,608   1,037,152   18%       
demand deposits
Stockholders'       741,617     783,181     -5%          823,839     -10%       749,003     785,875     -5%       
Equity
Net interest        1,767,901   1,706,522   4%           1,537,641   15%        1,698,465   1,523,356   11%       
earning assets
                                                                                                              
LOAN PORTFOLIO      9/30/2013    6/30/2013    % change     12/31/2012   % change   9/30/2012    % change              
COMPOSITION:
                                                                                                              
Commercial loans    $1,068,844 $1,060,196 1%           $1,073,625 0%         $1,076,262 -1%                   
Real estate loans   3,736,225   3,412,620   9%           3,174,759   18%        2,940,866   27%                   
Consumer and other  95,693      47,088      103%         49,954      92%        54,442      76%                   
loans
Loans outstanding   4,900,762   4,519,904   8%           4,298,338   14%        4,071,570   20%                   
Unamortized
deferred loan fees  (1,823)     (1,782)     -2%          (2,086)     13%        (2,076)     -12%                  
- net of costs
Loans, net of
deferred loan fees  4,898,939   4,518,122   8%           4,296,252   14%        4,069,494   20%                   
and costs
Allowance for loan  (65,715)    (71,675)    8%           (66,941)    2%         (65,952)    0%                    
losses
Loan receivable,    $4,833,224 $4,446,447 9%           $4,229,311 14%        $4,003,542 21%                   
net
                                                                                                              
REAL ESTATE LOANS   9/30/2013    6/30/2013    % change     12/31/2012   % change   9/30/2012    % change              
BY PROPERTY TYPE:
Retail buildings    $1,089,898 $939,442   16%          $868,567   25%        $852,968   28%                   
Hotels/motels       667,206     662,011     1%           609,076     10%        502,186     33%                   
Gas stations/ car   523,368     486,282     8%           428,997     22%        431,100     21%                   
washes
Mixed-use           297,506     284,328     5%           340,433     -13%       278,253     7%                    
facilities
Warehouses          362,700     352,693     3%           294,421     23%        302,792     20%                   
Multifamily         171,489     150,360     14%          142,610     20%        129,192     33%                   
Other               624,058     537,504     16%          490,655     27%        444,375     40%                   
Total               $3,736,225 $3,412,620 9%           $3,174,759 18%        $2,940,866 27%                   
                                                                                                              
DEPOSIT COMPOSITION 9/30/2013    6/30/2013    % Change     12/31/2012   % Change   9/30/2012    % Change              
Noninterest-bearing $1,362,675 $1,210,563 13%          $1,184,285 15%        $1,105,161 23%                   
demand deposits
Money market and    1,267,113   1,261,905   0%           1,248,304   2%         1,145,304   11%                   
other
Saving deposits     228,073     181,672     26%          180,686     26%        185,709     23%                   
Time deposits of    1,475,321   1,276,147   16%          1,088,611   36%        892,941     65%                   
$100,000 or more
Other time deposits 687,920     646,512     6%           682,149     1%         723,409     -5%                   
Total deposit       $5,021,102 $4,576,799 10%          $4,384,035 15%        $4,052,524 24%                   
balances
                                                                                                              
DEPOSIT COMPOSITION 9/30/2013    6/30/2013    12/31/2012   9/30/2012                                               
(%)
Noninterest-bearing 27.2%        26.4%        27.0%        27.3%                                                   
demand deposits
Money market and    25.2%        27.6%        28.5%        28.3%                                                   
other
Saving deposits     4.5%         4.0%         4.1%         4.6%                                                    
Time deposits of    29.4%        27.9%        24.8%        22.0%                                                   
$100,000 or more
Other time deposits 13.7%        14.1%        15.6%        17.8%                                                   
Total deposit       100.0%       100.0%       100.0%       100.0%                                                  
balances
                                                                                                              
                                                                                                              
CAPITAL RATIOS      9/30/2013    6/30/2013    12/31/2012   9/30/2012                                               
Total stockholders' $801,230   $781,025   $751,104   $734,455                                              
equity
Tier 1 risk-based   13.74%       14.89%       14.91%       15.22%                                                  
capital ratio
Total risk-based    14.99%       16.14%       16.16%       16.48%                                                  
capital ratio
Tier 1 leverage     12.14%       12.61%       12.76%       13.15%                                                  
ratio
Book value per      $10.10     $9.86      $9.62      $9.41                                                 
common share
Tangible common     $8.52      $8.65      $8.43      $8.21                                                 
equity per share^4
Tangible common
equity to tangible  10.87%       11.88%       11.86%       12.23%                                                  
assets^4
                                                                                                              
^4Tangible common equity to tangible assets is a non-GAAP financial measure that
represents common equity less goodwill and other intangible assets, net divided by
total assets less goodwill and other intangible assets, net.Management reviews                                     
tangible common equity to tangible assets in evaluating the Company's capital
levels and has included this ratio in response to market participant interest in
tangible common equity as a measure of capital.
                                                                                                              
Reconciliation of
GAAP financial
measures to                                                                                                    
non-GAAP financial
measures:
                                                                                                              
                   9/30/2013    6/30/2013    12/31/2012   9/30/2012                                               
Total stockholders' $801,230   $781,025   $751,104   $734,455                                              
equity
Less: Common stock  (378)       (378)       (378)       (378)                                                  
warrant
Goodwill and other
intangible assets,  (125,444)   (95,413)    (92,911)    (93,217)                                               
net
Tangible common     $675,408   $685,234   $657,815   $640,860                                              
equity
                                                                                                              
Total assets        $6,340,987 $5,863,014 $5,640,661 $5,331,979                                            
Less: Goodwill and
other intangible    (125,444)   (95,413)    (92,911)    (93,217)                                               
assets, net
Tangible assets     $6,215,543 $5,767,601 $5,547,750 $5,238,762                                            
                                                                                                              
Common shares       79,247,719  79,205,840  78,041,511  78,016,260                                             
outstanding
                                                                                                              
Tangible common
equity to tangible  10.87%       11.88%       11.86%       12.23%                                                  
assets
Tangible common     $8.52      $8.65      $8.43      $8.21                                                 
equity per share
                                                                                                              
                                                                                                              
                   For the Three Months Ended                                   Nine Months Ended                
ALLOWANCE FOR LOAN  9/30/2013    6/30/2013    3/31/2013    12/31/2012   9/30/2012  9/30/2013    9/30/2012             
LOSSES:
Balance at          $71,675    $73,268    $66,941    $65,952    $65,505  $66,941    $61,952             
beginning of period
Provision for loan  744         800         7,506       2,422       6,900     9,050       16,682               
losses
Recoveries          1,086       507         250         587         1,316     1,843       4,078                
Charge offs         (7,790)     (2,900)     (1,429)     (2,020)     (7,769)   (12,119)    (16,760)             
Balance at end of   $65,715    $71,675    $73,268    $66,941    $65,952  $65,715    $65,952             
period
Net charge
offs/average gross  0.56%        0.21%        0.11%        0.13%        0.64%      0.30%        0.44%                 
loans (annualized)
                                                                                                              
                   For the Three Months Ended                                     Nine Months Ended                  
NET CHARGED OFF     9/30/2013    6/30/2013    3/31/2013    12/31/2012   9/30/2012  9/30/2013    9/30/2012             
LOANSBY TYPE
                                                                                                              
Real estate loans   $6,129     $744       $1,014     $651       $1,101   $7,887     $4,089              
Commercial loans    119         1,684       150         627         5,403     1,953       8,191                
Consumer loans      (44)        (35)        15          155         (51)      (64)        402                  
Charge offs
excluding Acquired  6,204       2,393       1,179       1,433       6,453     9,776       12,682               
Credit Impaired
Loans
Charge offs on
Acquired Credit     500         --         --         --         --       500         --                  
Impaired Loans
Total net charge    $6,704     $2,393     $1,179     $1,433     $6,453   $10,276    $12,682             
offs
                                                                                                              
                                                                                                              
                                                                                                              
NONPERFORMING       9/30/2013    6/30/2013    3/31/2013    12/31/2012   9/30/2012                                   
ASSETS
Delinquent loans 90
days or more on     $36,129    $44,987    $42,269    $29,653    $31,100                                   
nonaccrual status
Delinquent loans 90
days or more on     39,560      18,786      21,621      17,742      24,111                                     
accrual status^5
Accruing            36,018      36,225      32,249      29,849      22,218                                     
restructured loans
Total nonperforming 111,707     99,998      96,139      77,244      77,429                                     
loans
Other real estate   27,582      9,596       8,419       2,698       4,135                                      
owned
Total nonperforming $139,289   $109,594   $104,558   $79,932    $81,564                                   
assets
Nonperforming
assets/ total       2.20%        1.87%        1.79%        1.42%        1.53%                                       
assets
Nonperforming
assets/ gross loans 2.83%        2.42%        2.32%        1.86%        2.00%                                       
& OREO
Nonperforming
assets/ total       17.38%       14.03%       13.54%       10.64%       11.11%                                      
capital
Nonperforming       2.28%        2.21%        2.14%        1.80%        1.90%                                       
loans/gross loans
Nonaccrual          0.74%        1.00%        0.94%        0.69%        0.76%                                       
loans/gross loans
Allowance for loan  1.34%        1.59%        1.63%        1.56%        1.62%                                       
losses/ gross loans
Allowance for loan
losses/ nonaccrual  181.89%      159.32%      173.34%      225.75%      212.06%                                     
loans
Allowance for loan
losses/
nonperforming loans
(excludes           91.08%       88.26%       98.32%       112.50%      123.70%                                     
delinquent loans 90
days or more on
accrual status^5)
Allowance for loan
losses/             47.18%       65.40%       70.07%       83.74%       80.86%                                      
nonperforming
assets
                                                                                                              
^5 All such loans represent acquired loans that were originally recorded at fair
value upon acquisition. These loans are considered to be accruing as we can
reasonably estimate future cash flows on acquired loans and we expect to fully                                      
collect the carrying value of these loans. Therefore, we are accreting the
difference between the carrying value of these loans and theirexpected cash
flows.
                                                                                                              
                                                                                                                  
BREAKDOWN OF
ACCRUING            9/30/2013    6/30/2013    3/31/2013    12/31/2012   9/30/2012                                   
RESTRUCTURED LOANS
BY TYPE:
Retail buildings    $6,777     $6,812     $2,556     $3,301     $1,915                                    
Hotels/motels       8,550       8,623       8,701       8,774       8,841                                      
Gas stations/ car   --         --         --         --         --                                        
washes
Mixed-use           807         811         816         --         --                                        
facilities
Warehouses          485         489         492         494         1,045                                      
Multifamily         --         --         3,247       3,247       --                                        
Other^6             19,399      19,490      16,437      14,023      10,417                                     
Total               $36,018    $36,225    $32,249    $29,839    $22,218                                   
^6 Includes
commercial business                                                                                            
and other loans
                                                                                                              
                                                                                                              
DELINQUENT LOANS
LESS THAN 90 DAYS   9/30/2013    6/30/2013    3/31/2013    12/31/2012   9/30/2012                                   
PAST DUE
                                                                                                              
Legacy                                                                                                         
30 - 59 days        $1,705     $2,056     $1,174     $968       $3,056                                    
60 - 89 days        732         85          2,411       349         1,001                                      
Total delinquent
loans less than 90  $2,437     $2,141     $3,585     $1,317     $4,057                                    
days past due -
legacy^7
                                                                                                              
Acquired                                                                                                       
30 - 59 days        $22,304    $8,590     $22,552    $7,411     $5,881                                    
60 - 89 days        7,366       5,574       3,848       16,835      2,518                                      
Total delinquent
loans less than 90  $29,670    $14,164    $26,400    $24,246    $8,399                                    
days past due -
acquired^7
                                                                                                              
Total delinquent
loans less than 90  $32,107    $16,305    $29,985    $25,563    $12,456                                   
days past due^7
                                                                                                              
DELINQUENT LOANS
LESS THAN 90 DAYS   9/30/2013    6/30/2013    3/31/2013    12/31/2012   9/30/2012                                   
PAST DUE BY TYPE
                                                                                                              
Legacy                                                                                                         
Real estate loans   $1,664     $853       $2,870     $595       $2,933                                    
Commercial loans    744         1,267       692         532         1,107                                      
Consumer loans      29          21          23          190         17                                         
Total delinquent
loans less than 90  $2,437     $2,141     $3,585     $1,317     $4,057                                    
days past due -
legacy^7
                                                                                                              
Acquired                                                                                                       
Real estate loans   $18,280    $11,433    $14,437    $21,598    $5,481                                    
Commercial loans    10,679      2,461       11,294      2,533       2,549                                      
Consumer loans      711         270         669         115         369                                        
Total delinquent
loans less than 90  $29,670    $14,164    $26,400    $24,246    $8,399                                    
days past due -
acquired^7
                                                                                                              
Total delinquent
loans less than 90  $32,107    $16,305    $29,985    $25,563    $12,456                                   
days past due^7
                                                                                                              
                                                                                                              
NONACCRUAL LOANSBY 9/30/2013    6/30/2013    3/31/2013    12/31/2012   9/30/2012                                   
TYPE
                                                                                                              
Real estate loans   $26,616    $34,577    $33,751    $20,430    $23,397                                   
Commercial loans    8,743       9,629       7,591       8,253       6,796                                      
Consumer loans      770         781         927         970         907                                        
Total nonaccrual    $36,129    $44,987    $42,269    $29,653    $31,100                                   
loans^7
                                                                                                                  
CRITICIZED LOANS    9/30/2013    6/30/2013    3/31/2013    12/31/2012   9/30/2012                                   
Legacy                                                                                                         
Special mention     $61,804    $66,774    $59,681    $25,279    $32,709                                   
Substandard         100,551     97,692      94,303      94,335      94,318                                     
Doubtful            8           152         455         474         595                                        
Loss                --         --         22          --         --                                        
Total criticized    $162,363   $164,618   $154,461   $120,088   $127,622                                  
loans - legacy^7
                                                                                                              
Acquired                                                                                                       
Special mention     $49,827    $42,014    $52,722    $54,310    $63,253                                   
Substandard         143,149     121,758     133,398     113,610     102,666                                    
Doubtful            2,045       368         327         415         316                                        
Loss                990         707         849         245         550                                        
Total criticized    $196,011   $164,847   $187,296   $168,580   $166,785                                  
loans - acquired^7
                                                                                                              
Total criticized    $358,374   $329,465   $341,757   $288,668   $294,407                                  
loans^7
                                                                                                              
^7 Excludes the guaranteed
portion of delinquent SBA loans                                                                                 
as these are 100% guaranteed by
the SBA.

CONTACT: Angie Yang
         SVP, Investor Relations
         213-251-2219
         angie.yang@BBCNbank.com

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