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PARENT COMPANY FINANCIAL STATEMENTS | 12 Months Ended
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Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
PARENT COMPANY FINANCIAL STATEMENTS | PARENT COMPANY FINANCIAL STATEMENTS The parent company only condensed statements of financial condition as of December 31, 2015 and 2014, and the related condensed statements of operations and condensed statements of cash flows for the years ended December 31, 2015, 2014, and 2013 are presented below: 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
| 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
| 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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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51664549&loc=d3e5283-111683 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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