Business Segment Information

12 Months Ended

Dec. 31, 2015

Business Segment Reporting

Business Segment Information

20) Business Segment Information

        The following presents the Company's operating segments. The Company operates through two business segments: Banking segment and Factoring segment. Transactions between segments consist primarily of borrowed funds. Intersegment interest expense is allocated to the Factoring segment based on the Company's prime rate and funding costs. The provision for loan loss is allocated based on the segment's allowance for loan loss determination which considers the effects of charge-offs. Noninterest income and expense directly attributable to a segment are assigned to it. Taxes are paid on a consolidated basis and allocated for segment purposes. The Factoring segment includes only factoring originated by Bay View Funding, which has been included in the results of operations since the acquisition on November 1, 2014.

	For the Twelve Months Ended Deember 31, 2015
	Banking(1)			Factoring			Consolidated
	(Dollars in thousands)
Interest income	$	66,306		$	12,437		$	78,743
Intersegment interest allocations		1,087			(1,087	)		—
Total interest expense		2,422			—			2,422
Net interest income		64,971			11,350			76,321
Provision (credit) for loan losses		(156	)		188			32
Net interest income after provision		65,127			11,162			76,289
Noninterest income		8,234			751			8,985
Noninterest expense		51,438			7,235			58,673
Intersegment expense allocations		386			(386	)		—
Income before income taxes		22,309			4,292			26,601
Income tax expense		8,301			1,803			10,104
Net income	$	14,008		$	2,489		$	16,497
Total assets	$	2,306,543		$	55,036		$	2,361,579
Loans, net of deferred fees	$	1,318,657		$	40,059		$	1,358,716
Goodwill	$	32,620		$	13,044		$	45,664

(1)Includes the holding company's results of operations

	For the Twelve Months Ended Deember 31, 2014
	Banking(1)			Factoring(2)			Consolidated
	(Dollars in thousands)
Interest income	$	57,178		$	2,078		$	59,256
Intersegment interest allocations		31			(31	)		—
Total interest expense		2,033			120			2,153
Net interest income		55,176			1,927			57,103
Provision (credit) for loan losses		(338	)		—			(338	)
Net interest income after provision		55,514			1,927			57,441
Noninterest income		7,662			84			7,746
Noninterest expense		43,132			1,090			44,222
Income before income taxes		20,044			921			20,965
Income tax expense		7,151			387			7,538
Net income	$	12,893		$	534		$	13,427
Total assets	$	1,561,911		$	55,192		$	1,617,103
Loans, net of deferred fees	$	1,048,631		$	40,012		$	1,088,643
Goodwill	$	—		$	13,044		$	13,044

(1)Includes the holding company's results of operations

(2)Includes two months of Bay View Funding's results of operations