Loans Held for Investment (Tables)

3 Months Ended

Mar. 31, 2015

Schedule of components of loans held for investment

	March 31, 2015			December 31, 2014			March 31, 2014
	(in thousands)
Business loans:
Commercial and industrial	$	420,218		$	428,207		$	271,877
Commercial owner occupied (1)	352,351			210,995			223,848
SBA	49,855			28,404			11,045
Warehouse facilities	216,554			113,798			81,033
Real estate loans:
Commercial non-owner occupied	452,422			359,213			333,490
Multi-family	397,130			262,965			223,200
One-to-four family (2)	116,735			122,795			141,469
Construction	111,704			89,682			29,857
Land	7,243			9,088			6,170
Other loans	6,641			3,298			3,480
Total gross loans (3)	2,130,853			1,628,445			1,325,469
Less loans held for sale, net	—			—			—
Total gross loans held for investment	2,130,853			1,628,445			1,325,469
Deferred loan origination costs/(fees) and premiums/(discounts), net	534			177			(97		)
Allowance for loan losses	(13,646		)	(12,200		)	(8,685		)
Loans held for investment, net	$	2,117,741		$	1,616,422		$	1,316,687

(1) Majority secured by real estate.

(2) Includes second trust deeds.

(3) Total gross loans for March 31, 2015 are net of (i) the unaccreted mark-to-market discounts on Canyon National Bank (“Canyon National”) loans of $1.2 million, on Palm Desert National Bank (“Palm Desert National”) loans of $1.3 million, on SDTB loans of $151,000, and on IDPK loans of $6.9 million and (ii) the mark-to-market premium on FAB loans of $28,000.

Summary of Company's investment in purchased credit impaired loans

	March 31, 2015
	Canyon		Palm Desert
	National		National		IDPK		Total
	(in thousands)
Business loans:
Commercial and industrial	$	95	$	—	$	601	$	696
Commercial owner occupied	549		—		2,388		2,937
SBA	—		—		—		—
Warehouse facilities	—		—		—		—
Real estate loans:
Commercial non-owner occupied	965		—		1,379		2,344
Multi-family	—		—		—		—
One-to-four family	—		1		—		1
Construction	—		—		—		—
Land	—		—		—		—
Other loans	—		—		—		—
Total purchase credit impaired	$	1,609	$	1	$	4,368	$	5,978

Summary of accretable yield on purchased credit impaired

	Three Months Ended
	March 31, 2015
	Canyon National			Palm Desert National		IDPK			Total
	(in thousands)
Balance at the beginning of period	$	1,351		$	52	$	—		$	1,403
Accretable yield at acquisition	—			—		602			602
Accretion	(47		)	—		(30		)	(77		)
Disposals and other	—			—		(4		)	(4		)
Change in accretable yield	—			—		—			—
Balance at the end of period	$	1,304		$	52	$	568		$	1,924

Summary of Company's investment in impaired loans

					Impaired Loans
	Contractual								Specific
	Unpaid						Without		Allowance for		Average		Interest
	Principal		Recorded		With Specific		Specific		Impaired		Recorded		Income
	Balance		Investment		Allowance		Allowance		Loans		Investment		Recognized
	(in thousands)
March 31, 2015
Business loans:
Commercial and industrial	$	2,225	$	1,853	$	—	$	1,853	$	—	$	618	$	—
Commercial owner occupied	438		379		—		379		—		382		7
Real estate loans:
Commercial non-owner occupied	698		458		—		458		—		465		12
One-to-four family	254		232		—		232		—		234		5
Totals	$	3,615	$	2,922	$	—	$	2,922	$	—	$	1,699	$	24

					Impaired Loans
	Contractual								Specific
	Unpaid						Without		Allowance for		Average		Interest
	Principal		Recorded		With Specific		Specific		Impaired		Recorded		Income
	Balance		Investment		Allowance		Allowance		Loans		Investment		Recognized
	(in thousands)
December 31, 2014
Business loans:
Commercial and industrial	$	—	$	—	$	—	$	—	$	—	$	11	$	—
Commercial owner occupied	440		388		—		388		—		514		46
SBA	—		—		—		—		—		5		—
Real estate loans:
Commercial non-owner occupied	1,217		848		—		848		—		908		85
One-to-four family	256		236		—		236		—		440		17
Totals	$	1,913	$	1,472	$	—	$	1,472	$	—	$	1,878	$	148

					Impaired Loans
	Contractual								Specific
	Unpaid						Without		Allowance for		Average		Interest
	Principal		Recorded		With Specific		Specific		Impaired		Recorded		Income
	Balance		Investment		Allowance		Allowance		Loans		Investment		Recognized
	(in thousands)
March 31, 2014
Business loans:
Commercial and industrial	$	67	$	31	$	—	$	31	$	—	$	10	$	—
Commercial owner occupied	870		718		—		718		—		738		—
SBA	246		14		—		14		—		14		9
Real estate loans:
Commercial non-owner occupied	1,894		1,327		—		1,327		—		1,093		17
One-to-four family	639		593		274		319		104		602		17
Totals	$	3,716	$	2,683	$	274	$	2,409	$	104	$	2,457	$	43

Summary of additional detail on components of impaired loans

	March 31, 2015		December 31, 2014		March 31, 2014
	(in thousands)

Nonaccruing loans	$	2,742	$	1,290	$	2,497
Accruing loans	180		182		186
Total impaired loans	$	2,922	$	1,472	$	2,683

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, 2015
Business loans:
Commercial and industrial	$	410,328	$	1,250	$	8,640	$	420,218
Commercial owner occupied	340,685		—		11,666		352,351
SBA	49,855		—		—		49,855
Warehouse facilities	216,554		—		—		216,554
Real estate loans:
Commercial non-owner occupied	446,900		—		5,522		452,422
Multi-family	391,690		1,954		3,486		397,130
One-to-four family	115,780		—		955		116,735
Construction	111,469		—		235		111,704
Land	7,243		—		—		7,243
Other loans	6,641		—		—		6,641
Totals	$	2,097,145	$	3,204	$	30,504	$	2,130,853

	Credit Risk Grades
			Special				Total Gross
	Pass		Mention		Substandard		Loans
	(in thousands)
December 31, 2014
Business loans:
Commercial and industrial	$	426,379	$	—	$	1,828	$	428,207
Commercial owner occupied	202,390		—		8,605		210,995
SBA	28,132		272		—		28,404
Warehouse facilities	113,798		—		—		113,798
Real estate loans:
Commercial non-owner occupied	355,274		—		3,939		359,213
Multi-family	261,956		501		508		262,965
One-to-four family	122,146		—		649		122,795
Construction	89,682		—		—		89,682
Land	9,088		—		—		9,088
Other loans	3,298		—		—		3,298
Totals	$	1,612,143	$	773	$	15,529	$	1,628,445

	Credit Risk Grades
			Special				Total Gross
	Pass		Mention		Substandard		Loans
	(in thousands)
March 31, 2014
Business loans:
Commercial and industrial	$	270,024	$	—	$	1,853	$	271,877
Commercial owner occupied	212,663		272		10,913		223,848
SBA	11,031		—		14		11,045
Warehouse facilities	81,033		—		—		81,033
Real estate loans:
Commercial non-owner occupied	328,645		—		4,845		333,490
Multi-family	222,178		508		514		223,200
One-to-four family	140,453		—		1,016		141,469
Construction	29,857		—		—		29,857
Land	6,170		—		—		6,170
Other loans	3,478		—		2		3,480
Totals	$	1,305,532	$	780	$	19,157	$	1,325,469

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, 2015
Business loans:
Commercial and industrial	$	417,894	$	146	$	—	$	2,178	$	420,218	$	2,455
Commercial owner occupied	351,600		349		375		27		352,351		527
SBA	49,855		—		—		—		49,855		—
Warehouse facilities	216,554		—		—		—		216,554		—
Real estate loans:
Commercial non-owner occupied	452,422		—		—		—		452,422		1,602
Multi-family	397,130		—		—		—		397,130		—
One-to-four family	116,533		149		—		53		116,735		79
Construction	111,704		—		—		—		111,704		—
Land	7,243		—		—		—		7,243		—
Other loans	6,640		1		—		—		6,641		—
Totals	$	2,127,575	$	645	$	375	$	2,258	$	2,130,853	$	4,663

			Days Past Due								Non-
	Current		30-59		60-89		90+		Total		Accruing
	(in thousands)
December 31, 2014
Business loans:
Commercial and industrial	$	428,183	$	—	$	24	$	—	$	428,207	$	—
Commercial owner occupied	210,995		—		—		—		210,995		514
SBA	28,404		—		—		—		28,404		—
Warehouse facilities	113,798		—		—		—		113,798		—
Real estate loans:
Commercial non-owner occupied	359,213		—		—		—		359,213		848
Multi-family	262,965		—		—		—		262,965		—
One-to-four family	122,722		19		—		54		122,795		82
Construction	89,682		—		—		—		89,682		—
Land	9,088		—		—		—		9,088		—
Other loans	3,297		1		—		—		3,298		—
Totals	$	1,628,347	$	20	$	24	$	54	$	1,628,445	$	1,444

			Days Past Due								Non-
	Current		30-59		60-89		90+		Total		Accruing
	(in thousands)
March 31, 2014
Business loans:
Commercial and industrial	$	271,845	$	—	$	32	$	—	$	271,877	$	31
Commercial owner occupied	223,402		—		—		446		223,848		864
SBA	10,985		46		—		14		11,045		14
Warehouse facilities	81,033		—		—		—		81,033		—
Real estate loans:
Commercial non-owner occupied	332,572		—		—		918		333,490		1,327
Multi-family	223,200		—		—		—		223,200		—
One-to-four family	141,348		72		—		49		141,469		438
Construction	29,857		—		—		—		29,857		—
Land	6,170		—		—		—		6,170		—
Other loans	3,480		—		—		—		3,480		—
Totals	$	1,323,892	$	118	$	32	$	1,427	$	1,325,469	$	2,674