Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of information by operating segment




	Year Ended December 31, 2018
	Banking(1)		Factoring		Consolidated
	(Dollars in thousands)
Interest income	$	115,147	$	14,698	$	129,845
Intersegment interest allocations		1,856		(1,856)		—
Total interest expense		7,822		—		7,822
Net interest income		109,181		12,842		122,023
Provision for loan losses		7,224		197		7,421
Net interest income after provision		101,957		12,645		114,602
Noninterest income		8,662		912		9,574
Noninterest expense (2)		69,164		6,357		75,521
Intersegment expense allocations		753		(753)		—
Income before income taxes		42,208		6,447		48,655
Income tax expense		11,418		1,906		13,324
Net income	$	30,790	$	4,541	$	35,331

Total assets	$	3,028,721	$	67,841	$	3,096,562
Loans, net of deferred fees	$	1,832,815	$	53,590	$	1,886,405
Goodwill	$	70,709	$	13,044	$	83,753

(1)Includes the holding company’s results of operations.

(2)The banking segment’s noninterest expense includes acquisition costs of $9,167,000.




	Year Ended December 31, 2017
	Banking(1)		Factoring		Consolidated
	(Dollars in thousands)
Interest income	$	95,027	$	11,884	$	106,911
Intersegment interest allocations		1,126		(1,126)		—
Total interest expense		5,387		—		5,387
Net interest income		90,766		10,758		101,524
Provision for loan losses		102		(3)		99
Net interest income after provision		90,664		10,761		101,425
Noninterest income		8,559		1,053		9,612
Noninterest expense (2)		53,860		6,878		60,738
Intersegment expense allocations		528		(528)		—
Income before income taxes		45,891		4,408		50,299
Income tax expense (3)		24,266		2,205		26,471
Net income	$	21,625	$	2,203	$	23,828

Total assets	$	2,780,286	$	63,166	$	2,843,452
Loans, net of deferred fees	$	1,533,841	$	48,826	$	1,582,667
Goodwill	$	32,620	$	13,044	$	45,664

(1)Includes the holding company’s results of operations.

(2)Includes $671,000 pre-tax acquisition costs related to the Tri-Valley and United American proposed mergers in the banking segment.

(3)Includes $7,103,000 of expense associated with remeasurement of the net DTA, of which $6,749,000 was in the banking segment, and $354,000 was in the factoring segment.


	Year Ended December 31, 2016
	Banking(1)		Factoring		Consolidated
	(Dollars in thousands)
Interest income	$	82,175	$	12,256	$	94,431
Intersegment interest allocations		1,163		(1,163)		—
Total interest expense		3,211		—		3,211
Net interest income		80,127		11,093		91,220
Provision for loan losses		1,181		56		1,237
Net interest income after provision		78,946		11,037		89,983
Noninterest income		10,821		804		11,625
Noninterest expense		50,298		7,341		57,639
Intersegment expense allocations		804		(804)		—
Income before income taxes		40,273		3,696		43,969
Income tax expense		15,036		1,552		16,588
Net income	$	25,237	$	2,144	$	27,381

Total assets	$	2,507,121	$	63,759	$	2,570,880
Loans, net of deferred fees	$	1,452,991	$	49,616	$	1,502,607
Goodwill	$	32,620	$	13,044	$	45,664

(1)

Includes the holding company’s results of operations.