Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||||||||
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Sep. 30, 2014
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Sep. 30, 2013
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Sep. 30, 2014
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Sep. 30, 2013
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Interest income: | ||||||||||
Loans receivable | $ 39,640 | $ 22,485 | $ 103,216 | $ 57,780 | ||||||
Loans held for sale | 8,503 | 9,495 | 20,301 | 31,536 | ||||||
Investment securities | 2,361 | 1,423 | 7,944 | 3,334 | ||||||
Other | 794 | 342 | 1,805 | 789 | ||||||
Total interest income | 51,298 | 33,745 | 133,266 | 93,439 | ||||||
Interest expense: | ||||||||||
Deposits | 6,179 | 5,470 | 17,321 | 15,742 | ||||||
Other borrowings | 1,494 | 789 | 3,834 | 868 | ||||||
FHLB advances | 1,711 | 272 | 3,348 | 840 | ||||||
Subordinated debt | 1,700 | 16 | 1,826 | 49 | ||||||
Total interest expense | 11,084 | 6,547 | 26,329 | 17,499 | ||||||
Net interest income | 40,214 | 27,198 | 106,937 | 75,940 | ||||||
Provision for loan losses | 5,035 | 750 | 12,288 | 2,748 | ||||||
Net interest income after provision for loan losses | 35,179 | 26,448 | 94,649 | 73,192 | ||||||
Non-interest income: | ||||||||||
Mortgage warehouse transactional fees | 2,154 | 3,090 | 6,128 | 10,626 | ||||||
Bank-owned life insurance | 976 | 615 | 2,646 | 1,658 | ||||||
Gain (loss) on sale of loans | 695 | (6) | 1,266 | 402 | ||||||
Mortgage loan and banking income | 212 | 50 | 2,175 | 50 | ||||||
Deposit fees | 192 | 198 | 618 | 487 | ||||||
Gain on sale of investment securities | 0 | 0 | 3,191 | 0 | ||||||
Other | 873 | 714 | 3,298 | 1,784 | ||||||
Total non-interest income | 5,102 | 4,661 | 19,322 | 15,007 | ||||||
Non-interest expense: | ||||||||||
Salaries and employee benefits | 12,070 | 8,963 | 33,012 | 24,868 | ||||||
FDIC assessments, taxes, and regulatory fees | 3,320 | 1,105 | 8,529 | 3,510 | ||||||
Occupancy | 2,931 | 2,289 | 8,162 | 6,309 | ||||||
Professional services | 1,671 | 1,191 | 5,834 | 3,149 | ||||||
Technology, communications and bank operations | 1,485 | 1,121 | 4,666 | 3,023 | ||||||
Other real estate owned | 603 | 401 | 1,845 | 962 | ||||||
Loan workout | 388 | 928 | 1,306 | 1,674 | ||||||
Advertising and promotion | 261 | 450 | 1,104 | 973 | ||||||
Loss contingency | 0 | 0 | 0 | 2,000 | ||||||
Other | 1,950 | 1,899 | 6,592 | 5,254 | ||||||
Total non-interest expense | 24,679 | 18,347 | 71,050 | 51,722 | ||||||
Income before income tax expense | 15,602 | 12,762 | 42,921 | 36,477 | ||||||
Income tax expense | 3,940 | 4,494 | 12,885 | 12,794 | ||||||
Net income | $ 11,662 | $ 8,268 | $ 30,036 | $ 23,683 | ||||||
Basic earnings per share | $ 0.44 | [1] | $ 0.30 | [1] | $ 1.12 | [1] | $ 1.00 | [1] | ||
Diluted earnings per share | $ 0.42 | [1] | $ 0.30 | [1] | $ 1.08 | [1] | $ 0.98 | [1] | ||
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X | ||||||||||
- Definition
FDIC Assessments Taxes And Regulatory Fees No definition available.
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X | ||||||||||
- Definition
Fees Mortgage Warehouse Lending No definition available.
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X | ||||||||||
- Definition
Loan Workout No definition available.
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X | ||||||||||
- Definition
This item represents the difference between the gross realized gains and losses realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities. Additionally, this item would include any losses recognized for other than temporary impairments (OTTI) of the subject investments in debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Earnings on or other increases in the value of the cash surrender value of bank owned life insurance policies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of expense in the period for communications and data processing expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Includes amounts charged depositors for: (1) maintenance of their accounts (maintenance charges); (2) failure to maintain specified minimum balances on account; (3) exceeding the number of checks or transactions allowed to be processed in a given period; (4) checks drawn on no minimum balance deposit accounts; (5) withdrawals from nontransaction deposit accounts; (6) closing savings accounts before a specified minimum period of time has elapsed; (7) accounts which have remained inactive for extended periods of time or which have become dormant; (8) use of automated teller machines or remote service units; (9) checks drawn against insufficient funds that the bank assesses regardless of whether it decides to pay, return or hold the check; (10) issuing stop payment orders; (11) certifying checks; and (12) accumulating or disbursing funds deposited in IRAs or Keogh Plan accounts when not handled by the bank's trust department. This item does not include penalties assessed on the early withdrawal of time deposits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Income from mortgage banking activities (fees and commissions) and servicing real estate mortgages, credit cards, and other financial assets held by others net of any related impairment of capitalized service costs. Also includes any premiums received in lieu of regular servicing fees on such loans only as earned over the life of the loans. No definition available.
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X | ||||||||||
- Definition
Amount of expense recognized during the period for the foreclosure on real estate assets. No definition available.
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X | ||||||||||
- Definition
The net gain (loss) resulting from a sale of loans, including adjustments to record loans classified as held-for-sale at the lower-of-cost-or-market and fair value adjustments to loan held for investment purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Amount of operating dividend and interest income, including amortization and accretion of premiums and discounts, on securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of interest and fee income earned from loans held-for-sale, including mortgage loans, and interest earned from direct financing and sales-type leases held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Aggregate amount of interest expense on all deposits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Interest expense incurred during the reporting period on short-term borrowings associated with Federal Home Loan Bank and Federal Reserve Bank advances. No definition available.
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X | ||||||||||
- Definition
Interest expense incurred on all other long-term debt, which may include (1) interest on long-term notes, and (2) amortization of issuance costs not otherwise separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Interest expense incurred during the reporting period on subordinated notes and debentures. Includes amortization of expenses incurred in the issuance of subordinated notes and debentures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of interest income or expense, including any amortization and accretion (as applicable) of discounts and premiums, including consideration of the provisions for loan, lease, credit, and other related losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net amount of operating interest income (expense). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of loss pertaining to the specified contingency that was charged against earnings in the period, including the effects of revisions in previously reported estimates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The total expense recognized in the period for promotion, public relations, and brand or product advertising. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Total aggregate amount of all noninterest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Represents other forms of revenue earned, excluding interest, which is not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of net occupancy expense that may include items, such as depreciation of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Includes all other interest income, net of discount accretion and premium amortization, and dividend income. It may include dividend income from equity securities that do not have readily determinable fair values that are reportable in Other Assets, and interest income on interest-only strips receivable (not in the form of a security) that are included in Other Assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Other noninterest expenses that are not separately presented in any other noninterest expense category. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of expense related to estimated loss from loan and lease transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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