Loans Held for Investment (Tables)

6 Months Ended

Jun. 30, 2013

Summary of composition of loan portfolio

	June 30, 2013			December 31, 2012			June 30, 2012
	(in thousands)
Business loans:
Commercial and industrial	$	146,240		$	115,354		$	84,191
Commercial owner occupied (1)	201,802			150,934			150,428
SBA	5,820			6,882			3,995
Warehouse facilities	135,317			195,761			61,111
Real estate loans:
Commercial non-owner occupied	295,767			253,409			242,700
Multi-family	172,797			156,424			183,742
One-to-four family (2)	84,672			97,463			56,694
Construction	2,135			—			281
Land	10,438			8,774			11,191
Other loans	4,969			1,193			4,019
Total gross loans (3)	1,059,957			986,194			798,352
Less loans held for sale, net	3,617			3,681			2,401
Total gross loans held for investment	1,056,340			982,513			795,951
Less:
Deferred loan origination costs (fees) and premiums (discounts), net	(910		)	(306		)	(632		)
Allowance for loan losses	(7,994		)	(7,994		)	(7,658		)
Loans held for investment, net	$	1,047,436		$	974,213		$	787,661

(1) Majority secured by real estate.

(2) Includes second trust deeds.

(3) Total gross loans for June 30, 2013 is net of the unaccreted mark-to-market discounts on Canyon National loans of $2.1 million, on Palm Desert National loans of $4.0 million, and on SDTB loans of $560,000 and of the mark-to-market premium on FAB loans of $103,000.

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

	June 30, 2013
	Canyon National		Palm Desert National		Total
	(in thousands)
Business loans:
Commercial and industrial	$	81	$	185	$	266
Commercial owner occupied (1)	942		—		942
Real estate loans:
Commercial non-owner occupied	1,019		—		1,019
One-to-four family (2)	—		24		24
Land	1,066		—		1,066
Total purchase credit impaired	$	3,108	$	209	$	3,317

Summary of accretable yield on purchased credit impaired

	Six Months Ended
	June 30, 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	(243		)	(44		)	(287		)
Disposals and other	—			(514		)	(514		)
Change in accretable yield	157			448			605
Balance at the end of period	$	1,943		$	137		$	2,080

Summary of Company's investment in impaired loans

	Contractual				Impaired Loans				Specific
	Unpaid Principal Balance		Recorded Investment		With Specific Allowance		Without Specific Allowance		Allowance for Impaired Loans		Average Recorded Investment		Interest Income Recognized
	(in thousands)
June 30, 2013
Business loans:
Commercial and industrial	$	423	$	308	$	233	$	76	$	233	$	454	$	19
Commercial owner occupied	—		—		—		—		—		122		—
SBA	—		—		—		—		—		84		1
Real estate loans:
Commercial non-owner occupied	531		450		—		450		—		1,254		3
Multi-family	1,046		1,035		—		1,035		—		217		2
One-to-four family	836		813		501		312		360		837		26
Totals	$	2,836	$	2,606	$	734	$	1,873	$	593	$	2,968	$	51

	Contractual				Impaired Loans				Specific
	Unpaid Principal Balance		Recorded Investment		With Specific Allowance		Without Specific Allowance		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

	Contractual				Impaired Loans				Specific
	Unpaid Principal Balance		Recorded Investment		With Specific Allowance		Without Specific Allowance		Allowance for Impaired Loans		Average Recorded Investment		Interest Income Recognized
	(in thousands)
June 30, 2012
Business loans:
Commercial and industrial	$	—	$	—	$	—	$	—	$	—	$	200	$	—
Commercial owner occupied	507		478		—		478		—		889		—
SBA	1,723		549		—		549		—		564		16
Real estate loans:
Commercial non-owner occupied	2,304		2,095		—		2,095		—		1,279		32
Multi-family	1,442		1,404		—		1,404		—		1,412		45
One-to-four family	670		667		—		667		—		708		22
Totals	$	6,646	$	5,193	$	—	$	5,193	$	—	$	5,052	$	115

Summary of additional detail on components of impaired loans

	June 30, 2013		December 31, 2012		June 30, 2012
	(in thousands)

Nonaccruing loans	$	1,969	$	1,988	$	3,826
Accruing loans	637		748		1,367
Total impaired loans	$	2,606	$	2,736	$	5,193

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

	Credit Risk Grades
			Special				Total Gross
	Pass		Mention		Substandard		Loans
	(in thousands)
June 30, 2013
Business loans:
Commercial and industrial	$	143,034	$	88	$	3,118	$	146,240
Commercial owner occupied	186,271		2,298		13,233		201,802
SBA	5,820		—		—		5,820
Warehouse facilities	135,317		—		—		135,317
Real estate loans:
Commercial non-owner occupied	289,210		356		6,201		295,767
Multi-family	170,726		515		1,556		172,797
One-to-four family	83,395		—		1,277		84,672
Construction	2,135		—		—		2,135
Land	10,430		—		8		10,438
Other loans	4,960		—		9		4,969
Totals	$	1,031,298	$	3,257	$	25,402	$	1,059,957

	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)
June 30, 2012
Business loans:
Commercial and industrial	$	81,359	$	1,753	$	1,079	$	84,191
Commercial owner occupied	134,749		4,036		11,643		150,428
SBA	3,858		—		137		3,995
Warehouse facilities	61,111		—		—		61,111
Real estate loans:
Commercial non-owner occupied	236,685		668		5,347		242,700
Multi-family	166,309		9,898		7,535		183,742
One-to-four family	55,303		—		1,391		56,694
Construction	281		—		—		281
Land	8,591		—		2,600		11,191
Other loans	3,892		—		127		4,019
Totals	$	752,138	$	16,355	$	29,859	$	798,352

Schedule of delinquencies in the Company's loan portfolio

			Days Past Due								Non-
	Current		30-59		60-89		90+		Total		Accruing
	(in thousands)
June 30, 2013
Business loans:
Commercial and industrial	$	146,000	$	7	$	233	$	—	$	146,240	$	96
Commercial owner occupied	201,162		640		—		—		201,802		—
SBA	5,795		—		25		—		5,820		—
Warehouse facilities	135,317		—		—		—		135,317		—
Real estate loans:
Commercial non-owner occupied	295,767		—		—		—		295,767		450
Multi-family	171,762		—		—		1,035		172,797		1,035
One-to-four family	84,290		22		322		38		84,672		451
Land	10,438		—		—		—		10,438		—
Other loans	4,969		—		—		—		4,969		—
Totals	$	1,057,635	$	669	$	580	$	1,073	$	1,059,957	$	2,032

			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)
June 30, 2012
Business loans:
Commercial and industrial	$	84,141	$	—	$	50	$	—	$	84,191	$	9
Commercial owner occupied	148,900		—		—		1,528		150,428		1,528
SBA	3,475		46		—		474		3,995		503
Warehouse facilities	61,111		—		—		—		61,111		—
Real estate loans:
Commercial non-owner occupied	241,290		259		—		1,151		242,700		2,094
Multi-family	180,907		—		2,835		—		183,742		3,115
One-to-four family	56,588		93		—		13		56,694		486
Construction	281		—		—		—		281		—
Land	10,934		—		—		257		11,191		691
Other loans	4,018		1		—		—		4,019		—
Totals	$	791,645	$	399	$	2,885	$	3,423	$	798,352	$	8,426