|
Portfolio Assets (Tables) (Portfolio Assets)
|
12 Months Ended |
|
Dec. 31, 2012
|
|
Portfolio Assets
|
|
| Loan and real estate portfolios |
|
| Summary of loans receivable |
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2012
(Dollars in thousands) |
|
|
|
Carrying
Value |
|
Allowance for
Loan Losses |
|
Carrying
Value, net |
|
|
Loan Portfolios: |
|
|
|
|
|
|
|
|
|
|
|
Purchased Credit-Impaired Loans |
|
|
|
|
|
|
|
|
|
|
|
Domestic: |
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate |
|
$ |
28,487 |
|
$ |
— |
|
$ |
28,487 |
|
|
Business assets |
|
|
4,047 |
|
|
26 |
|
|
4,021 |
|
|
Other |
|
|
3,087 |
|
|
— |
|
|
3,087 |
|
|
Latin America—commercial real estate |
|
|
1,034 |
|
|
327 |
|
|
707 |
|
|
Europe—commercial real estate |
|
|
3,449 |
|
|
— |
|
|
3,449 |
|
|
Other |
|
|
5,194 |
|
|
41 |
|
|
5,153 |
|
| |
|
|
|
|
|
|
|
|
Total Loan Portfolios |
|
$ |
45,298 |
|
$ |
394 |
|
|
44,904 |
|
| |
|
|
|
|
|
|
|
|
|
Real estate held for sale, net |
|
|
|
|
|
|
|
|
10,171 |
|
| |
|
|
|
|
|
|
|
|
|
|
Total Portfolio Assets |
|
|
|
|
|
|
|
$ |
55,075 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2011
(Dollars in thousands) |
|
|
|
Carrying
Value |
|
Allowance for
Loan Losses |
|
Carrying
Value, net |
|
|
Loan Portfolios: |
|
|
|
|
|
|
|
|
|
|
|
Purchased Credit-Impaired Loans |
|
|
|
|
|
|
|
|
|
|
|
Domestic: |
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate |
|
$ |
73,154 |
|
$ |
553 |
|
$ |
72,601 |
|
|
Business assets |
|
|
10,742 |
|
|
185 |
|
|
10,557 |
|
|
Other |
|
|
3,754 |
|
|
38 |
|
|
3,716 |
|
|
Latin America—commercial real estate |
|
|
50 |
|
|
— |
|
|
50 |
|
|
Europe—commercial real estate |
|
|
4,267 |
|
|
— |
|
|
4,267 |
|
|
Other |
|
|
5,904 |
|
|
5 |
|
|
5,899 |
|
| |
|
|
|
|
|
|
|
|
Total Loan Portfolios |
|
$ |
97,871 |
|
$ |
781 |
|
|
97,090 |
|
| |
|
|
|
|
|
|
|
|
|
Real estate held for sale, net |
|
|
|
|
|
|
|
|
26,856 |
|
| |
|
|
|
|
|
|
|
|
|
|
Total Portfolio Assets |
|
|
|
|
|
|
|
$ |
123,946 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Summary of income from portfolio assets |
|
|
|
|
|
|
|
|
|
|
Year Ended
December 31, |
|
|
|
2012 |
|
2011 |
|
|
|
(Dollars in thousands)
|
|
|
Loan Portfolios: |
|
|
|
|
|
|
|
|
Purchased Credit-Impaired Loans |
|
$ |
23,363 |
|
$ |
37,481 |
|
|
Purchased performing loans |
|
|
312 |
|
|
445 |
|
|
UBN |
|
|
— |
|
|
1,760 |
|
|
Other |
|
|
169 |
|
|
192 |
|
|
Real Estate Portfolios |
|
|
2,863 |
|
|
744 |
|
| |
|
|
|
|
|
|
Income from Portfolio Assets |
|
$ |
26,707 |
|
$ |
40,622 |
|
| |
|
|
|
|
|
|
| Schedule of changes in accretable yield related to purchased credit-impaired loans |
|
|
|
|
|
|
|
|
|
|
Year Ended
December 31, |
|
|
|
2012 |
|
2011 |
|
|
|
(Dollars in thousands)
|
|
|
Beginning Balance |
|
$ |
4,732 |
|
$ |
1,380 |
|
|
Accretion |
|
|
(600 |
) |
|
(4,321 |
) |
|
Reclassification from (to) nonaccretable difference |
|
|
(2,040 |
) |
|
4,253 |
|
|
Disposals |
|
|
(2,092 |
) |
|
(5,488 |
) |
|
Transfer from non-accrual |
|
|
— |
|
|
8,912 |
|
|
Translation adjustments |
|
|
— |
|
|
(4 |
) |
| |
|
|
|
|
|
|
Ending Balance |
|
$ |
— |
|
$ |
4,732 |
|
| |
|
|
|
|
|
|
| Schedule of acquisitions of purchased credit-impaired loans |
|
|
|
|
|
|
|
|
|
|
Year Ended
December 31, |
|
|
|
2012 |
|
2011 |
|
|
|
(Dollars in thousands)
|
|
|
Face value at acquisition |
|
$ |
11,270 |
|
$ |
31,859 |
|
|
Cash flows expected to be collected at acquisition, net of adjustments |
|
|
6,544 |
|
|
19,803 |
|
|
Basis in acquired loans at acquisition |
|
|
4,120 |
|
|
14,329 |
|
|
| Schedule of changes in the allowance for loan losses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchased Credit-Impaired Loans |
|
Other |
|
|
|
|
|
Domestic |
|
Latin America |
|
|
|
|
|
|
|
|
|
|
(dollars in thousands) |
|
Commercial
Real Estate |
|
Business
Assets |
|
Other |
|
Commercial
Real Estate |
|
Residential
Real Estate |
|
Europe |
|
UBN(1) |
|
Other |
|
Total |
|
|
Beginning balance, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
January 1, 2011 |
|
$ |
354 |
|
$ |
252 |
|
$ |
90 |
|
$ |
260 |
|
$ |
— |
|
$ |
866 |
|
$ |
43,291 |
|
$ |
49 |
|
$ |
45,162 |
|
|
Provisions |
|
|
1,702 |
|
|
519 |
|
|
24 |
|
|
103 |
|
|
64 |
|
|
— |
|
|
— |
|
|
199 |
|
|
2,611 |
|
|
Recoveries |
|
|
(164 |
) |
|
(13 |
) |
|
(7 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(719 |
) |
|
(28 |
) |
|
(931 |
) |
|
Charge offs |
|
|
(1,339 |
) |
|
(573 |
) |
|
(69 |
) |
|
— |
|
|
— |
|
|
(856 |
) |
|
(701 |
) |
|
(215 |
) |
|
(3,753 |
) |
|
Removal upon sale of loans(1) |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(45,002 |
) |
|
— |
|
|
(45,002 |
) |
|
Transfer to "held for sale" classification (see Note 4) |
|
|
— |
|
|
— |
|
|
— |
|
|
(317 |
) |
|
(62 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(379 |
) |
|
Translation adjustments |
|
|
— |
|
|
— |
|
|
— |
|
|
(46 |
) |
|
(2 |
) |
|
(10 |
) |
|
3,131 |
|
|
— |
|
|
3,073 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance, December 31, 2011 |
|
|
553 |
|
|
185 |
|
|
38 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
5 |
|
|
781 |
|
|
Provisions |
|
|
1,996 |
|
|
329 |
|
|
15 |
|
|
100 |
|
|
— |
|
|
— |
|
|
— |
|
|
130 |
|
|
2,570 |
|
|
Recoveries |
|
|
(21 |
) |
|
(87 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(108 |
) |
|
Charge offs |
|
|
(2,528 |
) |
|
(401 |
) |
|
(53 |
) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(94 |
) |
|
(3,076 |
) |
|
Transfer from "held for sale" classification (see Note 4) |
|
|
— |
|
|
— |
|
|
— |
|
|
210 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
210 |
|
|
Translation adjustments |
|
|
— |
|
|
— |
|
|
— |
|
|
17 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
17 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance, December 31, 2012 |
|
$ |
— |
|
$ |
26 |
|
$ |
— |
|
$ |
327 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
41 |
|
$ |
394 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- (1)
- The Company sold the underlying UBN loan portfolio in November 2011—refer to Note 1(f).
|
| Schedule of recorded investment in loan portfolio assets by credit quality indicator |
|
|
|
|
|
|
|
|
|
|
December 31,
2012 |
|
December 31,
2011 |
|
|
|
(Dollars in thousands)
|
|
|
Commercial real estate |
|
$ |
32,643 |
|
$ |
76,918 |
|
|
Business assets |
|
|
4,021 |
|
|
10,557 |
|
|
Other commercial |
|
|
8,240 |
|
|
9,615 |
|
| |
|
|
|
|
|
|
|
|
$ |
44,904 |
|
$ |
97,090 |
|
| |
|
|
|
|
|
|