XML 54 R29.htm IDEA: XBRL DOCUMENT v2.4.1.9
Business Segment Information
 12 Months Ended
Dec. 31, 2014
Segment Reporting [Abstract]  
Business Segment Information

NOTE 22 – BUSINESS SEGMENT INFORMATION

The following presents the Company’s operating segments. Transactions between segments consist primarily of borrowed funds. Intersegment interest expense is allocated to the factoring segment based on the Company’s prime rate. The provision for loan loss is allocated based on the segment’s allowance for loan loss determination which considers the effects of charge-offs. Noninterest income and expense directly attributable to a segment are assigned to it. Taxes are paid on a consolidated basis but not allocated for segment purposes. The Factoring segment includes only factoring originated by ABC. General factoring services not originated through ABC are included in the Banking segment.

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

Year Ended December 31, 2014

 

Factoring

 

 

Banking

 

 

Corporate

 

 

TBI

 

Total interest income

 

$

27,332

 

 

$

59,824

 

 

$

74

 

 

$

87,230

 

Intersegment interest allocations

 

 

(3,562

)

 

 

3,562

 

 

 

—

 

 

 

—

 

Total interest expense

 

 

—

 

 

 

5,091

 

 

 

1,679

 

 

 

6,770

 

Net interest income (expense)

 

 

23,770

 

 

 

58,295

 

 

 

(1,605

)

 

 

80,460

 

Provision for loan losses

 

 

1,792

 

 

 

4,066

 

 

 

—

 

 

 

5,858

 

Net interest income (expense) after provision

 

 

21,978

 

 

 

54,229

 

 

 

(1,605

)

 

 

74,602

 

Gain on branch sale

 

 

—

 

 

 

12,619

 

 

 

—

 

 

 

12,619

 

Other noninterest income

 

 

1,589

 

 

 

8,898

 

 

 

1,661

 

 

 

12,148

 

Noninterest expense

 

 

15,141

 

 

 

46,808

 

 

 

7,253

 

 

 

69,202

 

Operating income (loss)

 

$

8,426

 

 

$

28,938

 

 

$

(7,197

)

 

$

30,167

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

180,527

 

 

$

1,201,940

 

 

$

65,431

 

 

$

1,447,898

 

Gross loans

 

$

170,426

 

 

$

835,452

 

 

$

—

 

 

$

1,005,878

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

Year Ended December 31, 2013

 

Factoring

 

 

Banking

 

 

Corporate

 

 

TBI

 

Total interest income

 

$

17,388

 

 

$

25,184

 

 

$

58

 

 

$

42,630

 

Intersegment interest allocations

 

 

(2,155

)

 

 

2,155

 

 

 

—

 

 

 

—

 

Total interest expense

 

 

1

 

 

 

3,577

 

 

 

369

 

 

 

3,947

 

Net interest income (expense)

 

 

15,232

 

 

 

23,762

 

 

 

(311

)

 

 

38,683

 

Provision for loan losses

 

 

881

 

 

 

2,531

 

 

 

—

 

 

 

3,412

 

Net interest income (expense) after provision

 

 

14,351

 

 

 

21,231

 

 

 

(311

)

 

 

35,271

 

Bargain purchase gain

 

 

—

 

 

 

—

 

 

 

9,014

 

 

 

9,014

 

Other noninterest income

 

 

1,042

 

 

 

2,674

 

 

 

283

 

 

 

3,999

 

Intersegment expense allocations

 

 

104

 

 

 

(104

)

 

 

—

 

 

 

—

 

Noninterest expense

 

 

9,938

 

 

 

18,191

 

 

 

4,595

 

 

 

32,724

 

Operating income

 

$

5,351

 

 

$

5,818

 

 

$

4,391

 

 

$

15,560

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

122,279

 

 

$

1,129,962

 

 

$

35,998

 

 

$

1,288,239

 

Gross loans

 

$

108,954

 

 

$

772,145

 

 

$

—

 

 

$

881,099

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated

 

Year Ended December 31, 2012

 

Factoring

 

 

Banking

 

 

Corporate

 

 

TBI

 

Total interest income

 

$

14,434

 

 

$

12,518

 

 

$

—

 

 

$

26,952

 

Intersegment interest allocations

 

 

(1,596

)

 

 

1,596

 

 

 

—

 

 

 

—

 

Total interest expense

 

 

360

 

 

 

3,355

 

 

 

—

 

 

 

3,715

 

Net interest income

 

 

12,478

 

 

 

10,759

 

 

 

—

 

 

 

23,237

 

Provision for loan losses

 

 

1,334

 

 

 

405

 

 

 

—

 

 

 

1,739

 

Net interest income after provision

 

 

11,144

 

 

 

10,354

 

 

 

—

 

 

 

21,498

 

Noninterest income

 

 

967

 

 

 

1,687

 

 

 

7

 

 

 

2,661

 

Intersegment expense allocations

 

 

201

 

 

 

(201

)

 

 

—

 

 

 

—

 

Noninterest expense

 

 

8,511

 

 

 

9,548

 

 

 

420

 

 

 

18,479

 

Operating income (loss)

 

$

3,399

 

 

$

2,694

 

 

$

(413

)

 

$

5,680

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

85,974

 

 

$

215,225

 

 

$

263

 

 

$

301,462

 

Gross loans

 

$

72,073

 

 

$

139,176

 

 

$

—

 

 

$

211,249