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SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2016
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 (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, 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 segment was operated by The Palisades Group and provided services related to the purchase, sale and management of SFR mortgage loans. The Company sold all of its membership interests in The Palisades Group on May 5, 2016 and ceased Financial Advisory activities (see Note 2 for additional information). The Corporate/Other segment includes the holding company. The Corporate/Other segment engages in business activities through the sale of assets, 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. During the fourth quarter of 2015, the Company developed a measurement method to allocate centrally incurred costs to its operating segments.
The Company allocates shared service costs within Commercial Banking noninterest expense, as well as Corporate/Other noninterest expense, to the respective operating segments. The cost allocation was done on a comparable basis. These allocations of centrally incurred costs resulted in a reduction of noninterest expense for Commercial Banking and Corporate/Other, in the amount of $3.5 million and $3.7 million, respectively, for the three months ended June 30, 2016, and $7.4 million and $7.2 million, respectively, for the six months ended June 30, 2016. The allocations reduced noninterest expense for Commercial Banking and Corporate/Other, in the amount of $1.0 million and $4.2 million, respectively, for the three months ended June 30, 2015, and $3.6 million and $6.2 million, respectively, for the six months ended June 30, 2015. Additionally, these allocations resulted in an increase of noninterest expense for Mortgage Banking and Financial Advisory, in the amount of $7.1 million and $158 thousand, respectively, for the three months ended June 30, 2016, and $13.8 million and $760 thousand, respectively, for the six months ended June 30, 2016. The allocation resulted in an increase of noninterest expense for Mortgage Banking and Financial Advisory, in the amount of $4.7 million and $419 thousand, respectively, for the three months ended June 30, 2015, and $9.1 million and $691 thousand, respectively, for the six months ended June 30, 2015.

The following table represents the operating segments’ financial results and other key financial measures as of or for the three months ended June 30, 2016 and 2015:
 
As of or For the Three Months Ended
 
Commercial Banking
 
Mortgage Banking
 
Financial Advisory
 
Corporate/ Other
 
Inter-segment Elimination
 
Consolidated
 
(In thousands)
June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
Net interest income
$
80,181

 
$
3,706

 
$
—

 
$
(2,850
)
 
$
—

 
$
81,037

Provision for loan and lease losses
1,769

 
—

 
—

 
—

 
—

 
1,769

Noninterest income
20,691

 
40,708

 
821

 
3,694

 
(310
)
 
65,604

Noninterest expense
54,055

 
42,772

 
821

 
2,737

 
(310
)
 
100,075

Income (loss) before income taxes
$
45,048

 
$
1,642

 
$
—

 
$
(1,893
)
 
$
—

 
$
44,797

Total assets
$
9,706,188

 
$
447,580

 
$
—

 
$
113,237

 
$
(109,343
)
 
$
10,157,662

June 30, 2015
 
 
 
 
 
 
 
 
 
 
 
Net interest income
$
54,889

 
$
3,486

 
$
—

 
$
(4,271
)
 
$
—

 
$
54,104

Provision for loan and lease losses
5,474

 
—

 
—

 
—

 
—

 
5,474

Noninterest income
21,489

 
40,690

 
5,896

 
—

 
(1,382
)
 
66,693

Noninterest expense
46,235

 
38,616

 
4,451

 
—

 
(1,382
)
 
87,920

Income (loss) before income taxes
$
24,669

 
$
5,560

 
$
1,445

 
$
(4,271
)
 
$
—

 
$
27,403

Total assets
$
5,962,659

 
$
465,971

 
$
7,311

 
$
240,518

 
$
(238,577
)
 
$
6,437,882

The following table represents the operating segments’ financial results and other key financial measures as of or for the six months ended June 30, 2016 and 2015:
 
As of or For the Six Months Ended
 
Commercial Banking
 
Mortgage Banking
 
Financial Advisory
 
Corporate/ Other
 
Inter-segment Elimination
 
Consolidated
 
(In thousands)
June 30, 2016
 
 
 
 
 
 
 
 
 
 
 
Net interest income
$
151,708

 
$
6,878

 
$
—

 
$
(7,132
)
 
$
—

 
$
151,454

Provision for loan and lease losses
2,090

 
—

 
—

 
—

 
—

 
2,090

Noninterest income
43,522

 
68,839

 
2,636

 
3,694

 
(1,128
)
 
117,563

Noninterest expense
104,322

 
80,045

 
3,199

 
2,737

 
(1,128
)
 
189,175

Income (loss) before income taxes
$
88,818

 
$
(4,328
)
 
$
(563
)
 
$
(6,175
)
 
$
—

 
$
77,752

Total assets
$
9,706,188

 
$
447,580

 
$
—

 
$
113,237

 
$
(109,343
)
 
$
10,157,662

June 30, 2015
 
 
 
 
 
 
 
 
 
 
 
Net interest income
$
106,441

 
$
5,987

 
$
—

 
$
(6,327
)
 
$
—

 
$
106,101

Provision for loan and lease losses
5,474

 
—

 
—

 
—

 
—

 
5,474

Noninterest income
29,344

 
77,618

 
8,518

 
—

 
(2,807
)
 
112,673

Noninterest expense
87,142

 
72,761

 
6,703

 
—

 
(2,807
)
 
163,799

Income (loss) before income taxes
$
43,169

 
$
10,844

 
$
1,815

 
$
(6,327
)
 
$
—

 
$
49,501

Total assets
$
5,962,659

 
$
465,971

 
$
7,311

 
$
240,518

 
$
(238,577
)
 
$
6,437,882