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SEGMENT REPORTING
 9 Months Ended
Sep. 30, 2015
Segment Reporting [Abstract]  
SEGMENT REPORTING
SEGMENT REPORTING

The Company utilizes an internal reporting system to measure the performance of various operating segments within the Bank and the Company overall. The Company has identified four operating segments for purposes of management reporting: i) Commercial Banking; ii) Mortgage Banking; iii) Financial Advisory and Asset Management; and iv) Corporate/Other. Each of these four business divisions meets the criteria of an operating segment, as each segment engages in business activities from which it earns revenues and incurs expenses and its operating results are regularly reviewed by the Company’s chief operating decision-maker, the Company's President and Chief Executive Officer or his delegate, to make decisions about resources to be allocated to the segment and assess its performance and for which discrete financial information is available.

The principal business of the Commercial Banking segment consists of attracting deposits and investing these funds primarily in commercial, consumer and real estate secured loans. The principal business of the Mortgage Banking segment is originating conforming SFR loans and selling these loans in the secondary market. The principal business of the Financial Advisory and Asset Management segment is operated by The Palisades Group and provides services of purchase, sale and management of SFR mortgage loans. The Corporate/Other segment includes the holding company and PTB, an entity formed to hold real estate. The Corporate/Other segment engages in business activities through the sale of other real estate owned and loans held at the holding company and incurs interest expense on debt as well as non-interest expense for corporate related activities. The operating segment results do not include allocation of centralized costs that are currently recorded in the Commercial Banking and Corporate/Other segment. The Company is currently in the process of determining the basis for calculating allocations.

The following table represents the operating segments’ financial results and other key financial measures as of or for the three months ended September 30, 2015 and 2014:
 
As of or For the Three Months Ended
 
Commercial Banking
 
Mortgage Banking
 
Financial Advisory and Asset Management
 
Corporate/ Other
 
Inter-segment Elimination
 
Consolidated
 
(In thousands)
September 30, 2015
 
 
 
 
 
 
 
 
 
 
 
Net interest income
$
55,911

 
$
3,606

 
$
—

 
$
(3,967
)
 
$
—

 
$
55,550

Provision for loan and lease losses
735

 
—

 
—

 
—

 
—

 
735

Noninterest income
14,669

 
33,843

 
3,072

 
—

 
(857
)
 
50,727

Noninterest expense
46,198

 
30,538

 
2,148

 
3,716

 
(857
)
 
81,743

Income (loss) before income taxes
$
23,647

 
$
6,911

 
$
924

 
$
(7,683
)
 
$
—

 
$
23,799

Total assets
$
6,822,439

 
$
418,877

 
$
8,670

 
$
175,173

 
$
(168,349
)
 
$
7,256,810

September 30, 2014
 
 
 
 
 
 
 
 
 
 
 
Net interest income
$
37,801

 
$
2,498

 
$
—

 
$
(2,113
)
 
$
—

 
$
38,186

Provision for loan and lease losses
2,780

 
—

 
—

 
—

 
—

 
2,780

Noninterest income
13,048

 
27,586

 
4,986

 
130

 
(1,652
)
 
44,098

Noninterest expense
38,701

 
24,904

 
2,087

 
3,314

 
(1,652
)
 
67,354

Income (loss) before income taxes
$
9,368

 
$
5,180

 
$
2,899

 
$
(5,297
)
 
$
—

 
$
12,150

Total assets
$
4,265,503

 
$
271,700

 
$
8,296

 
$
66,585

 
$
(74,258
)
 
$
4,537,826


The following table represents the operating segments’ financial results and other key financial measures as of or for the nine months ended September 30, 2015 and 2014:
 
As of or For the Nine Months Ended
 
Commercial Banking
 
Mortgage Banking
 
Financial Advisory and Asset Management
 
Corporate/ Other
 
Inter-segment Elimination
 
Consolidated
 
(In thousands)
September 30, 2015
 
 
 
 
 
 
 
 
 
 
 
Net interest income
$
162,352

 
$
9,593

 
$
—

 
$
(10,294
)
 
$
—

 
$
161,651

Provision for loan and lease losses
6,209

 
—

 
—

 
—

 
—

 
6,209

Noninterest income
44,013

 
111,461

 
11,590

 
—

 
(3,664
)
 
163,400

Noninterest expense
136,925

 
94,218

 
8,160

 
9,903

 
(3,664
)
 
245,542

Income (loss) before income taxes
$
63,231

 
$
26,836

 
$
3,430

 
$
(20,197
)
 
$
—

 
$
73,300

Total assets
$
6,822,439

 
$
418,877

 
$
8,670

 
$
175,173

 
$
(168,349
)
 
$
7,256,810

September 30, 2014
 
 
 
 
 
 
 
 
 
 
 
Net interest income
$
108,184

 
$
6,181

 
$
—

 
$
(5,419
)
 
$
—

 
$
108,946

Provision for loan and lease losses
6,817

 
—

 
—

 
—

 
—

 
6,817

Noninterest income
25,940

 
72,345

 
11,508

 
209

 
(5,254
)
 
104,748

Noninterest expense
103,495

 
71,094

 
6,817

 
9,100

 
(5,254
)
 
185,252

Income (loss) before income taxes
$
23,812

 
$
7,432

 
$
4,691

 
$
(14,310
)
 
$
—

 
$
21,625

Total assets
$
4,265,503

 
$
271,700

 
$
8,296

 
$
66,585

 
$
(74,258
)
 
$
4,537,826