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PARENT COMPANY FINANCIAL STATEMENTS (Tables) | 12 Months Ended
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Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Statements of Financial Condition | Condensed Statements of Financial Condition
| December 31,
| 2015 |  | 2014
| (In thousands)
ASSETS |  |  |
Cash and cash equivalents | $ | 149,541 |  |  | $ | 31,362 |
FHLB and other bank stock | 78 |  |  | 78 |
Loans and leases receivable | 626 |  |  | 635 |
Other assets | 13,087 |  |  | 35,222 |
Investment in subsidiaries | 776,986 |  |  | 541,050 |
Total assets | $ | 940,318 |  |  | $ | 608,347 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |
Notes payable, net | 261,876 |  |  | 93,569 |
Accrued expenses and other liabilities | 26,037 |  |  | 11,463 |
Stockholders’ equity | 652,405 |  |  | 503,315 |
Total liabilities and stockholders’ equity | $ | 940,318 |  |  | $ | 608,347 |
Condensed Statements of Operations | Condensed Statements of Operations
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
| (In thousands)
Income |  |  |  |  |
Dividends from subsidiaries | $ | 8,500 |  |  | $ | — |  |  | $ | — |
Interest income on loans | 5 |  |  | 361 |  |  | 159 |
Gain on sale of loans | — |  |  | 209 |  |  | — |
Other operating income | — |  |  | 8 |  |  | 5 |
Total income | 8,505 |  |  | 578 |  |  | 164 |
Expenses |  |  |  |  |
Interest expense for notes payable | 14,659 |  |  | 7,861 |  |  | 6,941 |
Other operating expense | 13,810 |  |  | 12,478 |  |  | 14,015 |
Total expenses | 28,469 |  |  | 20,339 |  |  | 20,956 |
Loss before income taxes and equity in undistributed earnings of subsidiaries | (19,964 | ) |  | (19,761 | ) |  | (20,792 | )
Income tax (benefit) expense | (8,431 | ) |  | (18,226 | ) |  | 20 |
Loss before equity in undistributed earnings of subsidiaries | (11,533 | ) |  | (1,535 | ) |  | (20,812 | )
Equity in undistributed earnings of subsidiaries | 73,605 |  |  | 31,740 |  |  | 20,728 |
Net income (loss) | $ | 62,072 |  |  | $ | 30,205 |  |  | $ | (84 | )
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
| (In thousands)
Cash flows from operating activities: |  |  |  |  |
Net income (loss) | $ | 62,072 |  |  | $ | 30,205 |  |  | $ | (84 | )
Adjustments to reconcile net income to net cash provided by (used in) operating activities |  |  |  |  |
Equity in undistributed earnings of subsidiaries | (73,605 | ) |  | (31,740 | ) |  | (20,728 | )
Stock option compensation expense | 336 |  |  | 260 |  |  | 121 |
Stock award compensation expense | 2,635 |  |  | 1,824 |  |  | 806 |
Stock appreciation right expense | 202 |  |  | 1,889 |  |  | 1,072 |
Amortization of debt issuance cost | 727 |  |  | 686 |  |  | 385 |
Net gain on sale of loans | — |  |  | (209 | ) |  | — |
Amortization of premiums and discounts on purchased loans | — |  |  | (298 | ) |  | — |
Deferred income tax (benefit) expense | (3,575 | ) |  | (1,298 | ) |  | — |
Net change in other assets and liabilities | 37,515 |  |  | (26,471 | ) |  | 8,601 |
Net cash provided by (used in) operating activities | 26,307 |  |  | (25,152 | ) |  | (9,827 | )
Cash flows from investing activities: |  |  |  |  |
Loan purchases from bank and principal collections, net | 9 |  |  | 568 |  |  | (6,043 | )
Proceeds from sale of loans held-for-investment | — |  |  | 5,347 |  |  | — |
Capital contribution to bank subsidiary | (160,000 | ) |  | (127,000 | ) |  | (81,000 | )
Capital contribution to non-bank subsidiary | — |  |  | — |  |  | (100 | )
Investment in acquired business | — |  |  | — |  |  | (29,465 | )
Net cash used in investing activities | (159,991 | ) |  | (121,085 | ) |  | (116,608 | )
Cash flows from financing activities: |  |  |  |  |
Net proceeds from issuance of long term debt | 172,304 |  |  | — |  |  | — |
Net proceeds from issuance of tangible equity units | — |  |  | 64,959 |  |  | — |
Net proceeds from issuance of common stock | — |  |  | 103,656 |  |  | 67,792 |
Net proceeds from issuance of preferred stock | 110,873 |  |  | — |  |  | 37,943 |
Payment of Amortizing Debt | (4,715 | ) |  | (2,157 | ) |  | — |
Purchase of treasury stock | — |  |  | (280 | ) |  | (5,005 | )
Proceeds from exercise of stock options | 501 |  |  | 993 |  |  | 540 |
Dividends paid on stock appreciation rights | (699 | ) |  | (471 | ) |  | — |
Dividends paid on common stock | (16,955 | ) |  | (10,669 | ) |  | (6,736 | )
Dividends paid on preferred stock | (9,446 | ) |  | (3,652 | ) |  | (2,185 | )
Net cash provided by financing activities | 251,863 |  |  | 152,379 |  |  | 92,349 |
Net change in cash and cash equivalents | 118,179 |  |  | 6,142 |  |  | (34,086 | )
Cash and cash equivalents at beginning of year | 31,362 |  |  | 25,220 |  |  | 59,306 |
Cash and cash equivalents at end of year | $ | 149,541 |  |  | $ | 31,362 |  |  | $ | 25,220 |

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