Loans (Tables)

12 Months Ended

Dec. 31, 2016

The following is a summary of our loans as of December 31:

(dollars in thousands)	2016		2015
Recorded investment balance:
Loans secured by real estate:
Residential properties:
Multifamily	$	1,178,003	$	627,311
Single family		602,886		533,257
Total real estate loans secured by residential properties		1,780,889		1,160,568
Commercial properties		476,959		358,791
Land		24,100		12,320
Total real estate loans		2,281,948		1,531,679
Commercial and industrial loans		237,941		196,584
Consumer loans		32,127		37,206
Total loans		2,552,016		1,765,469
Deferred expenses, net		3,693		14
Total	$	2,555,709	$	1,765,483

Carrying Amount of Purchased Credit Impaired Loans

In 2012 and 2015, the Company purchased loans, for which there was, at acquisition, evidence of deterioration in credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The carrying amount of these purchased credit impaired loans is as follows at December 31:

(dollars in thousands)	2016			2015
Outstanding principal balance:
Loans secured by real estate:
Commercial properties	$	295		$	533
Land		—			1,616
Total real estate loans		295			2,149
Commercial and industrial loans		4,258			6,787
Consumer loans		17			14
Total loans		4,570			8,950
Unaccreted discount on purchased credit impaired loans		(1,198	)		(2,291	)
Total	$	3,373		$	6,659

Accretable Yield or Income Expected to be Collected on Purchased Credit Impaired Loans

Accretable yield, or income expected to be collected on purchased credit impaired loans, is as follows at December 31:

(dollars in thousands)	2016			2015
Beginning balance	$	582		$	130
Accretion of income		(185	)		(529	)
Reclassifications from nonaccretable difference		—			176
Acquisitions		—			805
Disposals		(108	)		—
Ending balance	$	289		$	582

Summary of Delinquent and Nonaccrual Loans

The following table summarizes our delinquent and nonaccrual loans as of December 31:

	Past Due and Still Accruing												Total Past Due and Nonaccrual
(dollars in thousands)	30–59 Days			60-89 Days			90 Days or More			Nonaccrual			Total Past Due and Nonaccrual			Current		Total
2016:
Real estate loans:
Residential properties	$	—		$	—		$	—		$	3,759		$	3,759		$	1,777,130	$	1,780,889
Commercial properties		—			—			2,128			1,120			3,248			473,711		476,959
Land		—			—			—			—			—			24,100		24,100
Commercial and industrial loans		—			2			3,800			3,359			7,161			230,780		237,941
Consumer loans		—			—			—			—			—			32,127		32,127
Total	$	—		$	2		$	5,928		$	8,238		$	14,168		$	2,537,848	$	2,552,016
Percentage of total loans		—	%		0.00	%		0.23	%		0.32	%		0.56	%
2015:
Real estate loans:
Residential properties	$	—		$	—		$	—		$	—		$	—		$	1,160,568	$	1,160,568
Commercial properties		1,232			—			793			1,552			3,577			355,214		358,791
Land		—			—			—			—			—			12,320		12,320
Commercial and industrial loans		2,425			1,639			5,713			2,509			12,286			184,298		196,584
Consumer loans		1,010			—			1,991			75			3,076			34,130		37,206
Total	$	4,667		$	1,639		$	8,497		$	4,136		$	18,939		$	1,746,530	$	1,765,469
Percentage of total loans		0.26	%		0.09	%		0.48	%		0.23	%		1.07	%

Composition of TDRs by Accrual and Nonaccrual Status

The following table presents the composition of TDRs by accrual and nonaccrual status as of:

	December 31, 2016							December 31, 2015
(dollars in thousands)	Accrual			Nonaccrual	Total			Accrual	Nonaccrual		Total
Commercial and industrial	$	317	$	3,109	$	3,426	$	—	$	344	$	344