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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Interest and dividend income        
Loans, including fees $ 44,555 $ 32,061 $ 128,162 $ 76,751
Securities 1,460 1,292 3,377 2,159
Dividends and other interest-earning assets 634 493 1,520 845
Total interest and dividend income 46,649 33,846 133,059 79,755
Interest expense        
Deposits 6,165 5,084 17,971 10,386
Federal Home Loan Bank advances 118 56 317 177
Notes payable and other interest-bearing liabilities 2,180 1,763 5,825 5,265
Total interest expense 8,463 6,903 24,113 15,828
Net interest income 38,186 26,943 108,946 63,927
Provision for loan and lease losses 2,780 2,109 6,817 6,195
Net interest income after provision for loan and lease losses 35,406 24,834 102,129 57,732
Noninterest income        
Customer service fees 230 621 839 1,676
Loan servicing income 924 293 2,951 939
Income from bank owned life insurance 64 42 167 130
Net gain on sale of securities available for sale 0 10 522 319
Net gain on sale of loans 10,260 484 15,901 4,520
Net gain on mortgage banking activities 26,943 16,231 70,400 52,862
Other income 5,677 545 13,968 1,780
Total noninterest income 44,098 18,226 104,748 62,226
Noninterest expense        
Salaries and employee benefits 41,094 30,179 114,905 74,570
Occupancy and equipment 7,969 5,247 23,931 12,070
Professional fees 4,758 4,560 12,151 9,804
Data processing 1,286 1,552 3,347 3,827
Advertising 1,584 1,664 3,369 3,076
Regulatory assessments 1,013 986 3,000 1,578
Loan servicing and foreclosure expense 292 276 642 628
Operating loss on equity investment 203 120 538 410
Valuation allowance for other real estate owned 0 18 0 97
Net gain on sales of other real estate owned 0 (73) 0 (224)
Provision for loan repurchases 1,154 375 2,055 1,363
Amortization of intangible assets 890 973 2,773 1,707
Impairment on intangible assets 0 976 0 976
All other expense 7,314 5,451 19,079 11,574
Total noninterest expense 67,557 52,304 185,790 121,456
Income (loss) before income taxes 11,947 (9,244) 21,087 (1,498)
Income tax expense (benefit) 721 (710) 983 1,744
Net income (loss) 11,226 (8,534) 20,104 (3,242)
Preferred stock dividends 910 946 2,730 1,234
Net income (loss) available to common shareholders 10,316 (9,480) 17,374 (4,476)
Basic earnings per common share (in usd per share) $ 0.31 $ (0.53) $ 0.64 $ (0.32)
Diluted earnings per common share (in usd per share) $ 0.30 $ (0.53) $ 0.63 $ (0.32)
Class A Common Stock
       
Noninterest expense        
Net income (loss) 11,018 (8,260) 19,647 (3,039)
Preferred stock dividends 893 916 2,668 1,157
Basic earnings per common share (in usd per share) $ 0.31 $ (0.53) $ 0.64 $ (0.32)
Diluted earnings per common share (in usd per share) $ 0.30 $ (0.53) $ 0.63 $ (0.32)
Class B Common Stock
       
Noninterest expense        
Net income (loss) 208 (274) 457 (203)
Preferred stock dividends $ 17 $ 30 $ 62 $ 77
Basic earnings per common share (in usd per share) $ 0.31 $ (0.53) $ 0.64 $ (0.32)
Diluted earnings per common share (in usd per share) $ 0.31 $ (0.53) $ 0.64 $ (0.32)