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Business Segment Information
 3 Months Ended
Mar. 31, 2016
Segment Reporting [Abstract]  
Business Segment Information

NOTE 15 – 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 TBC. General factoring services not originated through TBC are included in the Banking segment.

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

Asset

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2016

 

Factoring

 

 

Banking

 

 

Management

 

 

Corporate

 

 

Consolidated

 

Total interest income

 

$

7,185

 

 

$

17,426

 

 

$

31

 

 

$

251

 

 

$

24,893

 

Intersegment interest allocations

 

 

(1,001

)

 

 

1,001

 

 

 

—

 

 

 

—

 

 

 

—

 

Total interest expense

 

 

—

 

 

 

2,102

 

 

 

—

 

 

 

302

 

 

 

2,404

 

Net interest income (expense)

 

 

6,184

 

 

 

16,325

 

 

 

31

 

 

 

(51

)

 

 

22,489

 

Provision for loan losses

 

 

(470

)

 

 

(124

)

 

 

—

 

 

 

83

 

 

 

(511

)

Net interest income (expense) after provision

 

 

6,654

 

 

 

16,449

 

 

 

31

 

 

 

(134

)

 

 

23,000

 

Noninterest income

 

 

445

 

 

 

2,015

 

 

 

1,671

 

 

 

850

 

 

 

4,981

 

Noninterest expense

 

 

4,573

 

 

 

13,582

 

 

 

1,346

 

 

 

577

 

 

 

20,078

 

Operating income (loss)

 

$

2,526

 

 

$

4,882

 

 

$

356

 

 

$

139

 

 

$

7,903

 

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

Asset

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2015

 

Factoring

 

 

Banking

 

 

Management

 

 

Corporate

 

 

Consolidated

 

Total interest income

 

$

7,228

 

 

$

14,235

 

 

$

60

 

 

$

56

 

 

$

21,579

 

Intersegment interest allocations

 

 

(909

)

 

 

909

 

 

 

—

 

 

 

—

 

 

 

—

 

Total interest expense

 

 

—

 

 

 

1,572

 

 

 

10

 

 

 

272

 

 

 

1,854

 

Net interest income (expense)

 

 

6,319

 

 

 

13,572

 

 

 

50

 

 

 

(216

)

 

 

19,725

 

Provision for loan losses

 

 

(109

)

 

 

754

 

 

 

—

 

 

 

—

 

 

 

645

 

Net interest income (expense) after provision

 

 

6,428

 

 

 

12,818

 

 

 

50

 

 

 

(216

)

 

 

19,080

 

Bargain purchase gain

 

 

—

 

 

 

—

 

 

 

12,509

 

 

 

—

 

 

 

12,509

 

Other noninterest income

 

 

331

 

 

 

2,585

 

 

 

957

 

 

 

277

 

 

 

4,150

 

Noninterest expense

 

 

4,312

 

 

 

12,400

 

 

 

2,626

 

 

 

1,445

 

 

 

20,783

 

Operating income (loss)

 

$

2,447

 

 

$

3,003

 

 

$

10,890

 

 

$

(1,384

)

 

$

14,956

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

Asset

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2016

 

Factoring

 

 

Banking

 

 

Management

 

 

Corporate

 

 

Eliminations

 

 

Consolidated

 

Total assets

 

$

176,388

 

 

$

1,597,373

 

 

$

14,568

 

 

$

306,504

 

 

$

(407,038

)

 

$

1,687,795

 

Gross loans

 

$

165,718

 

 

$

1,177,071

 

 

$

900

 

 

$

15,151

 

 

$

(113,000

)

 

$

1,245,840

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

Asset

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2015

 

Factoring

 

 

Banking

 

 

Management

 

 

Corporate

 

 

Eliminations

 

 

Consolidated

 

Total assets

 

$

198,629

 

 

$

1,601,072

 

 

$

17,676

 

 

$

303,253

 

 

$

(429,317

)

 

$

1,691,313

 

Gross loans

 

$

186,457

 

 

$

1,223,028

 

 

$

945

 

 

$

18,455

 

 

$

(137,000

)

 

$

1,291,885