Acquisitions (Tables)

3 Months Ended

Mar. 31, 2014

Acquisitions

Schedule of contractual amounts due, expected cash flows to be collected, interest component and fair value as of the respective acquisition dates

	Acquired Loans
	FAB		SDTB		IFH
	(dollars in thousands)
Contractual amounts due	$	32,107	$	47,251	$	98,320
Cash flows not expected to be collected	—		—		—
Expected cash flows	32,107		47,251		98,320
Interest component of expected cash flows	5,685		4,529		19,487
Fair value of acquired loans	$	26,422	$	42,722	$	78,833

Summary of pro forma net interest and other income, net income and earnings per share

	Three months Ended March 31,
	2014		2013
Net interest and other income	$	18,722	$	16,543
Net income	$	2,251	$	1,909
Basic earnings per share	$	0.13	$	0.12
Diluted earnings per share	$	0.13	$	0.12

Infinity Franchise Holdings Acquisition

Acquisitions

Schedule of assets acquired and liabilities assumed and the provisional fair value adjustments and amounts recorded

	IFH Book Value			Fair Value Adjustments			Fair Value
	(dollars in thousands)
ASSETS ACQUIRED
Cash and cash equivalents	$	555		$	—		$	555
Loans, gross	78,833			—			78,833
Deferred loan costs	1,082			(1,082		)	—
Allowance for loan losses	(268		)	268			—
Other assets	776			—			776
Total assets acquired	$	80,978		$	(814	)	$	80,164
LIABILITIES ASSUMED
Bank loan	$	67,617		$	—		$	67,617
Accrued compensation	495			—			495
Other liabilities	214			—			214
Total liabilities assumed	68,326			—			68,326
Excess of assets acquired over liabilities assumed	$	12,652		$	(814	)	11,838
Consideration paid							17,360
Goodwill recognized							$	5,522

San Diego Trust Bank

Acquisitions

Schedule of assets acquired and liabilities assumed and the provisional fair value adjustments and amounts recorded

	SDTB Book Value			Fair Value Adjustments			Fair Value
	(dollars in thousands)
ASSETS ACQUIRED
Cash and cash equivalents	$	30,252		$	—		$	30,252
Investment securities	124,960			(155		)	124,805
Loans, gross	42,945			(223		)	42,722
Allowance for loan losses	(1,013		)	1,013			—
Other real estate owned	752			—			752
Core deposit intangible	—			2,836			2,836
Other assets	9,856			—			9,856
Total assets acquired	$	207,752		$	3,471		$	211,223
LIABILITIES ASSUMED
Deposits	$	183,901		$	6		$	183,907
Deferred tax liability (asset)	(333		)	1,507			1,174
Other liabilities	1,823			(729		)	1,094
Total liabilities assumed	185,391			784			186,175
Excess of assets acquired over liabilities assumed	$	22,361		$	2,687		25,048
Consideration paid							30,622
Goodwill recognized							$	5,574

First Association Bank

Acquisitions

Schedule of assets acquired and liabilities assumed and the provisional fair value adjustments and amounts recorded

	FAB Book Value			Fair Value Adjustments		Fair Value
	(dollars in thousands)
ASSETS ACQUIRED
Cash and cash equivalents	$	167,663		$	—	$	167,663
Investment securities	219,913			2,478		222,391
Loans, gross	26,264			158		26,422
Allowance for loan losses	(224		)	224		—
Core deposit intangible	—			1,930		1,930
Other assets	5,823			—		5,823
Total assets acquired	$	419,439		$	4,790	$	424,229
LIABILITIES ASSUMED
Deposits	$	356,737		$	81	$	356,818
Borrowings	16,905			—		16,905
Deferred tax liability	—			3,918		3,918
Other Liabilities	536			—		536
Total liabilities assumed	374,178			3,999		378,177
Excess of assets acquired over liabilities assumed	$	45,261		$	791	46,052
Consideration paid						57,906
Goodwill recognized						$	11,854