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Loans Held for Investment (Tables)
6 Months Ended
Jun. 30, 2015
Receivables [Abstract]  
Schedule of components of loans held for investment
The following table sets forth the composition of our loan portfolio in dollar amounts at the dates indicated:

 
June 30, 2015
 
December 31, 2014
 
June 30, 2014
 
(in thousands)
Business loans:
 
 
 
 
 
Commercial and industrial
$
454,463

 
$
428,207

 
$
319,541

Commercial owner occupied (1)
382,537

 
210,995

 
216,784

SBA
50,306

 
28,404

 
15,115

Warehouse facilities
198,113

 
113,798

 
114,032

Real estate loans:
 

 
 

 
 

Commercial non-owner occupied
402,786

 
359,213

 
360,288

Multi-family
400,237

 
262,965

 
251,512

One-to-four family (2)
84,283

 
122,795

 
132,020

Construction
124,448

 
89,682

 
47,034

Land
16,339

 
9,088

 
6,271

Other loans
4,811

 
3,298

 
3,753

Total gross loans held for investment (3)
2,118,323

 
1,628,445

 
1,466,350

Deferred loan origination costs and premiums, net
237

 
177

 
418

Allowance for loan losses
(15,100
)
 
(12,200
)
 
(9,733
)
Loans held for investment, net
$
2,103,460

 
$
1,616,422

 
$
1,457,035

______________________________
(1) Majority secured by real estate.
(2) Includes second trust deeds.
(3) Total gross loans for June 30, 2015 are net of (i) the unaccreted mark-to-market discounts on Canyon National Bank ("Canyon National") loans of $1.1 million, on Palm Desert National Bank ("Palm Desert National") loans of $1.1 million, on San Diego Trust Bank ("SDTB") loans of $144,000, and on IDPK loans of $6.3 million and (ii) the mark-to-market premium on First Associations Bank ("FAB") loans of $24,000.

Summary of Company's investment in purchased credit impaired loans
The following table provides a summary of the Company’s investment in purchased credit impaired loans, acquired from Canyon National, Palm Desert National and IDPK, as of the period indicated: 

 
June 30, 2015
 
Canyon National
 
Palm Desert National
 
IDPK
 
Total
 
(in thousands)
Business loans:
 
 
 
 
 
 
 
Commercial and industrial
$
94

 
$

 
$
540

 
$
634

Commercial owner occupied
535

 

 
2,335

 
2,870

Real estate loans:
 

 
 

 
 

 


Commercial non-owner occupied
943

 

 
1,237

 
2,180

One-to-four family

 

 
92

 
92

Total purchase credit impaired
$
1,572

 
$

 
$
4,204

 
$
5,776

Summary of accretable yield on purchased credit impaired
The following table summarizes the accretable yield on the purchased credit impaired loans for the six months ended June 30, 2015:

 
Six Months Ended
 
June 30, 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
(106
)
 

 
(75
)
 
(181
)
Disposals and other

 
(52
)
 
(4
)
 
(56
)
Change in accretable yield

 

 
149

 
149

Balance at the end of period
$
1,245

 
$

 
$
672

 
$
1,917

Summary of Company's investment in impaired loans
The following tables provide a summary of the Company’s investment in impaired loans as of the period indicated:

 
 
 
 
 
 
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)
June 30, 2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Business loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
2,494

 
$
1,684

 
$
223

 
$
1,461

 
$
223

 
$
1,797

 
$

Commercial owner occupied
 
437

 
370

 

 
370

 

 
373

 
15

Real estate loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial non-owner occupied
 
693

 
443

 

 
443

 

 
446

 
21

One-to-four family
 
215

 
206

 

 
206

 

 
222

 
10

Land
 
37

 
23

 

 
23

 

 
8

 

Totals
 
$
3,876

 
$
2,726

 
$
223

 
$
2,503

 
$
223

 
$
2,846

 
$
46

  

 
 
 

 
 

 
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, 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
Unpaid Principal Balance
 
Recorded Investment
 
With Specific Allowance
 
Without Specific Allowance
 
Specific Allowance for Impaired Loans
 
Average Recorded Investment
 
Interest Income Recognized
 
 
(in thousands)
June 30, 2014
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Business loans:
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Commercial and industrial
 
$
59

 
$
24

 
$

 
$
24

 
$

 
$
18

 
$

Commercial owner occupied
 
444

 
417

 

 
417

 

 
627

 
25

SBA
 

 

 

 

 

 
9

 

Real estate loans:
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Commercial non-owner occupied
 
708

 
514

 

 
514

 

 
938

 
21

One-to-four family
 
625

 
575

 
270

 
305

 
104

 
591

 
15

Totals
 
$
1,836

 
$
1,530

 
$
270

 
$
1,260

 
$
104

 
$
2,183

 
$
61

  
Summary of additional detail on components of impaired loans
The following table provides additional detail on the components of impaired loans at the period end indicated:
 
 
June 30, 2015
 
December 31, 2014
 
June 30, 2014
 
(in thousands)
Nonaccruing loans
$
2,471

 
$
1,290

 
$
1,345

Accruing loans
255

 
182

 
185

Total impaired loans
$
2,726

 
$
1,472

 
$
1,530

Summary of loan portfolio by the Company's internal risk grading system
The following tables stratify the loan portfolio by the Company’s internal risk grading system as well as certain other information concerning the credit quality of the loan portfolio as of the periods indicated:

 
 
Credit Risk Grades
 
 
Pass
 
Special
Mention
 
Substandard
 
Total Gross
Loans
June 30, 2015
 
(in thousands)
Business loans:
 
 
 
 
 
 
 
 
Commercial and industrial
 
$
449,461

 
$
267

 
$
4,735

 
$
454,463

Commercial owner occupied
 
370,185

 
678

 
11,674

 
382,537

SBA
 
50,306

 

 

 
50,306

Warehouse facilities
 
198,113

 

 

 
198,113

Real estate loans:
 
 

 
 

 
 

 
 

Commercial non-owner occupied
 
399,245

 
265

 
3,276

 
402,786

Multi-family
 
395,565

 
704

 
3,968

 
400,237

One-to-four family
 
83,671

 

 
612

 
84,283

Construction
 
124,448

 

 

 
124,448

Land
 
15,143

 

 
1,196

 
16,339

Other loans
 
4,401

 

 
410

 
4,811

Totals
 
$
2,090,538

 
$
1,914

 
$
25,871

 
$
2,118,323


 
 
Credit Risk Grades
 
 
Pass
 
Special
Mention
 
Substandard
 
Total Gross
Loans
December 31, 2014
 
(in thousands)
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
 
 
Pass
 
Special
Mention
 
Substandard
 
Total Gross
Loans
June 30, 2014
 
(in thousands)
Business loans:
 
 

 
 

 
 

 
 

Commercial and industrial
 
$
317,713

 
$

 
$
1,828

 
$
319,541

Commercial owner occupied
 
206,890

 
393

 
9,501

 
216,784

SBA
 
15,115

 

 

 
15,115

Warehouse facilities
 
114,032

 

 

 
114,032

Real estate loans:
 
 

 
 

 
 

 
 

Commercial non-owner occupied
 
355,878

 

 
4,410

 
360,288

Multi-family
 
250,494

 
506

 
512

 
251,512

One-to-four family
 
131,330

 

 
690

 
132,020

Construction
 
47,034

 

 

 
47,034

Land
 
6,271

 

 

 
6,271

Other loans
 
3,753

 

 

 
3,753

Totals
 
$
1,448,510

 
$
899

 
$
16,941

 
$
1,466,350

Schedule of delinquencies in the Company's loan portfolio
The following tables set forth delinquencies in the Company’s loan portfolio at the dates indicated:
 
 
 
 
 
Days Past Due
 
 
 
Non-
 
 
Current
 
30-59
 
60-89
 
90+
 
Total
 
Accruing
June 30, 2015
 
(in thousands)
Business loans:
 
 
 
 

 
 

 
 

 
 
 
 
Commercial and industrial
 
$
452,383

 
$
452

 
$

 
$
1,628

 
$
454,463

 
$
2,147

Commercial owner occupied
 
382,537

 

 

 

 
382,537

 
578

SBA
 
50,306

 

 

 

 
50,306

 

Warehouse facilities
 
198,113

 

 

 

 
198,113

 

Real estate loans:
 
 

 
 

 
 

 
 

 
 

 
 

Commercial non-owner occupied
 
402,297

 
489

 

 

 
402,786

 
1,454

Multi-family
 
400,237

 

 

 

 
400,237

 

One-to-four family
 
84,218

 
2

 

 
63

 
84,283

 
88

Construction
 
124,448

 

 

 

 
124,448

 

Land
 
16,316

 

 

 
23

 
16,339

 
23

Other loans
 
4,783

 

 
28

 

 
4,811

 
92

Totals
 
$
2,115,638

 
$
943

 
$
28

 
$
1,714

 
$
2,118,323

 
$
4,382


 
 
 

 
Days Past Due
 
 

 
Non-
 
 
Current
 
30-59
 
60-89
 
90+
 
Total
 
Accruing
December 31, 2014
 
(in thousands)
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
June 30, 2014
 
(in thousands)
Business loans:
 
 

 
 

 
 

 
 

 
 

 
 

Commercial and industrial
 
$
319,418

 
$

 
$
99

 
$
24

 
$
319,541

 
$
24

Commercial owner occupied
 
216,367

 

 
417

 

 
216,784

 
549

SBA
 
15,115

 

 

 

 
15,115

 

Warehouse facilities
 
114,032

 

 

 

 
114,032

 

Real estate loans:
 
 

 
 

 
 

 
 

 
 

 
 

Commercial non-owner occupied
 
360,288

 

 

 

 
360,288

 
910

Multi-family
 
251,512

 

 

 

 
251,512

 

One-to-four family
 
131,258

 
236

 
478

 
48

 
132,020

 
458

Construction
 
47,034

 

 

 

 
47,034

 

Land
 
6,271

 

 

 

 
6,271

 

Other loans
 
3,753

 

 

 

 
3,753

 

Totals
 
$
1,465,048

 
$
236

 
$
994

 
$
72

 
$
1,466,350

 
$
1,941