Loans Held for Investment (Tables)

3 Months Ended

Mar. 31, 2013

Summary of composition of loan portfolio

	March 31, 2013			December 31, 2012			March 31, 2012
	(in thousands)
Business loans:
Commercial and industrial	$	140,592		$	115,354		$	83,947
Commercial owner occupied (1)	166,571			150,934			146,904
SBA	5,116			6,882			3,948
Warehouse facilities	138,935			195,761			44,246
Real estate loans:
Commercial non-owner occupied	256,015			253,409			168,672
Multi-family	139,100			156,424			185,367
One-to-four family (2)	87,109			97,463			52,280
Land	7,863			8,774			7,246
Other loans	4,690			1,193			3,139
Total gross loans (3)	945,991			986,194			695,749
Less loans held for sale, net	3,643			3,681			62
Total gross loans held for investment	942,348			982,513			695,687
Less:
Deferred loan origination costs (fees) and premiums (discounts), net	(520		)	(306		)	(492		)
Allowance for loan losses	(7,994		)	(7,994		)	(8,116		)
Loans held for investment, net	$	933,834		$	974,213		$	687,079

(1) Majority secured by real estate.

(2) Includes second trust deeds.

(3) Total gross loans for March 31, 2013 is net of the mark-to-market discounts on Canyon National loans of $2.7 million, on Palm Desert National loans of $4.7 million, and on FAB loans of $157,000.

Summary of Company's investment in purchased credit impaired loans, acquired from Canyon National and Palm Desert National

	March 31, 2013
	Canyon National		Palm Desert National		Total
	(in thousands)
Business loans:
Commercial and industrial	$	77	$	214	$	291
Commercial owner occupied (1)	941		260		1,201
Real estate loans:
Commercial non-owner occupied	1,029		—		1,029
One-to-four family (2)	—		27		27
Land	1,034		—		1,034
Total purchase credit impaired	$	3,081	$	501	$	3,582

Summary of accretable yield on purchased credit impaired

	Three Months Ended
	March 31, 2013
	Canyon National			Palm Desert National			Total
	(in thousands)

Balance at the beginning of period	$	2,029		$	247		$	2,276
Accretable yield at acquisition	—			—			—
Accretion	(122		)	(28		)	(150		)
Disposals and other	—			(75		)	(75		)
Change in accretable yield	157			448			605
Balance at the end of period	$	2,064		$	592		$	2,656

Summary of Company's investment in impaired loans

					Impaired Loans
	Contractual Unpaid Principal Balance		Recorded Investment		With Specific Allowance		Without Specific Allowance		Specific Allowance for Impaired Loans		Average Recorded Investment		Interest Income Recognized
	(in thousands)
March 31, 2013
Business loans:
Commercial and industrial	$	697	$	580	$	281	$	299	$	256	$	584	$	18
Commercial owner occupied	245		245		—		245		—		245		—
SBA	422		129		—		129		—		143		6
Real estate loans:
Commercial non-owner occupied	2,478		1,974		—		1,974		—		1,550		22
Multi-family	—		—		—		—		—		88		2
One-to-four family	849		824		501		322		360		858		26
Totals	$	4,691	$	3,752	$	782	$	2,969	$	616	$	3,468	$	74

					Impaired Loans
	Contractual Unpaid Principal Balance		Recorded Investment		With Specific Allowance		Without Specific Allowance		Specific Allowance for Impaired Loans		Average Recorded Investment		Interest Income Recognized
	(in thousands)
December 31, 2012
Business loans:
Commercial and industrial	$	707	$	593	$	287	$	306	$	270	$	203	$	29
Commercial owner occupied	—		—		—		—		—		444		—
SBA	810		259		—		259		—		468		21
Real estate loans:
Commercial non-owner occupied	746		670		—		670		—		1,031		59
Multi-family	315		266		—		266		—		1,123		22
One-to-four family	960		948		541		407		395		720		59
Totals	$	3,538	$	2,736	$	828	$	1,908	$	665	$	3,989	$	190

					Impaired Loans
	Contractual Unpaid Principal Balance		Recorded Investment		With Specific Allowance		Without Specific Allowance		Specific Allowance for Impaired Loans		Average Recorded Investment		Interest Income Recognized
	(in thousands)
March 31, 2012
Business loans:
Commercial and industrial	$	81	$	76	$	—	$	76	$	—	$	351	$	1
Commercial owner occupied	1,043		913		—		913		—		1,154		—
SBA	2,171		604		—		604		—		547		8
Real estate loans:
Commercial non-owner occupied	709		648		—		648		—		1,069		11
Multi-family	1,446		1,414		—		1,414		—		1,417		23
One-to-four family	1,170		973		—		973		—		671		11
Totals	$	6,620	$	4,628	$	—	$	4,628	$	—	$	5,209	$	54

Summary of additional detail on components of impaired loans

	March 31, 2013		December 31, 2012		March 31, 2012
	(in thousands)

Nonaccruing loans	$	3,055	$	1,988	$	3,696
Accruing loans	697		748		932
Total impaired loans	$	3,752	$	2,736	$	4,628

Summary of loan portfolio by the Company's internal risk grading system

	Credit Risk Grades
			Special				Total Gross
	Pass		Mention		Substandard		Loans
	(in thousands)
March 31, 2013
Business loans:
Commercial and industrial	$	136,947	$	96	$	3,549	$	140,592
Commercial owner occupied	149,787		2,792		13,992		166,571
SBA	5,063		—		53		5,116
Warehouse facilities	138,935		—		—		138,935
Real estate loans:
Commercial non-owner occupied	247,140		360		8,515		256,015
Multi-family	137,014		517		1,569		139,100
One-to-four family	85,849		—		1,260		87,109
Land	7,853		—		10		7,863
Other loans	4,678		—		12		4,690
Totals	$	913,266	$	3,765	$	28,960	$	945,991

	Credit Risk Grades
			Special				Total Gross
	Pass		Mention		Substandard		Loans
	(in thousands)
December 31, 2012
Business loans:
Commercial and industrial	$	111,895	$	92	$	3,367	$	115,354
Commercial owner occupied	136,330		2,674		11,930		150,934
SBA	6,819		—		63		6,882
Warehouse facilities	195,761		—		—		195,761
Real estate loans:
Commercial non-owner occupied	240,585		687		12,137		253,409
Multi-family	143,003		11,583		1,838		156,424
One-to-four family	96,061		—		1,402		97,463
Land	8,762		—		12		8,774
Other loans	1,177		—		16		1,193
Totals	$	940,393	$	15,036	$	30,765	$	986,194

	Credit Risk Grades
			Special				Total Gross
	Pass		Mention		Substandard		Loans
	(in thousands)
March 31, 2012
Business loans:	—
Commercial and industrial	$	82,070	$	864	$	1,013	$	83,947
Commercial owner occupied	134,326		3,778		8,800		146,904
SBA	3,747		—		201		3,948
Warehouse facilities	44,246		—		—		44,246
Real estate loans:
Commercial non-owner occupied	165,237		672		2,763		168,672
Multi-family	170,714		9,932		4,721		185,367
One-to-four family	50,580		—		1,700		52,280
Land	7,246		—		—		7,246
Other loans	3,119		—		20		3,139
Totals	$	661,285	$	15,246	$	19,218	$	695,749

Schedule of delinquencies in the Company's loan portfolio

			Days Past Due								Non-
	Current		30-59		60-89		90+		Total		Accruing
	(in thousands)
March 31, 2013
Business loans:
Commercial and industrial	$	140,365	$	9	$	—	$	218	$	140,592	$	333
Commercial owner occupied	166,326		—		—		245		166,571		245
SBA	5,044		—		—		72		5,116		121
Warehouse facilities	138,935		—		—		—		138,935		—
Real estate loans:
Commercial non-owner occupied	254,678		—		—		1,337		256,015		1,974
Multi-family	138,053		—		1,047		—		139,100		—
One-to-four family	87,021		49		30		9		87,109		429
Land	7,863		—		—		—		7,863		—
Other loans	4,690		—		—		—		4,690		—
Totals	$	942,975	$	58	$	1,077	$	1,881	$	945,991	$	3,102

			Days Past Due								Non-
	Current		30-59		60-89		90+		Total		Accruing
	(in thousands)
December 31, 2012
Business loans:
Commercial and industrial	$	115,078	$	—	$	58	$	218	$	115,354	$	347
Commercial owner occupied	150,689		—		245		—		150,934		14
SBA	6,697		—		—		185		6,882		260
Warehouse facilities	195,761		—		—		—		195,761		—
Real estate loans:
Commercial non-owner occupied	253,409		—		—		—		253,409		670
Multi-family	156,424		—		—		—		156,424		266
One-to-four family	97,283		101		—		79		97,463		522
Land	8,774		—		—		—		8,774		127
Other loans	1,188		5		—		—		1,193		—
Totals	$	985,303	$	106	$	303	$	482	$	986,194	$	2,206

			Days Past Due								Non-
	Current		30-59		60-89		90+		Total		Accruing
	(in thousands)
March 31, 2012
Business loans:
Commercial and industrial	$	83,937	$	10	$	—	$	—	$	83,947	$	100
Commercial owner occupied	145,580		—		478		846		146,904		1,325
SBA	3,435		—		—		513		3,948		544
Warehouse facilities	44,246		—		—		—		44,246		—
Real estate loans:
Commercial non-owner occupied	168,487		—		—		185		168,672		648
Multi-family	185,367		—		—		—		185,367		287
One-to-four family	51,741		—		219		320		52,280		792
Land	7,246		—		—		—		7,246		—
Other loans	3,138		1		—		—		3,139		—
Totals	$	693,177	$	11	$	697	$	1,864	$	695,749	$	3,696