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Business Segment Information
 9 Months Ended
Sep. 30, 2016
Segment Reporting [Abstract]  
Business Segment Information

NOTE 16 – BUSINESS SEGMENT INFORMATION

The following table 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 September 30, 2016

 

Factoring

 

 

Banking

 

 

Management

 

 

Corporate

 

 

Consolidated

 

Total interest income

 

$

8,465

 

 

$

24,863

 

 

$

61

 

 

$

82

 

 

$

33,471

 

Intersegment interest allocations

 

 

(1,251

)

 

 

1,251

 

 

 

—

 

 

 

—

 

 

 

—

 

Total interest expense

 

 

—

 

 

 

2,671

 

 

 

—

 

 

 

382

 

 

 

3,053

 

Net interest income (expense)

 

 

7,214

 

 

 

23,443

 

 

 

61

 

 

 

(300

)

 

 

30,418

 

Provision for loan losses

 

 

33

 

 

 

2,861

 

 

 

—

 

 

 

(75

)

 

 

2,819

 

Net interest income after provision

 

 

7,181

 

 

 

20,582

 

 

 

61

 

 

 

(225

)

 

 

27,599

 

Other noninterest income

 

 

680

 

 

 

3,147

 

 

 

1,534

 

 

 

738

 

 

 

6,099

 

Noninterest expense

 

 

4,984

 

 

 

19,000

 

 

 

1,259

 

 

 

549

 

 

 

25,792

 

Operating income (loss)

 

$

2,877

 

 

$

4,729

 

 

$

336

 

 

$

(36

)

 

$

7,906

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

Asset

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2015

 

Factoring

 

 

Banking

 

 

Management

 

 

Corporate

 

 

Consolidated

 

Total interest income

 

$

8,274

 

 

$

16,743

 

 

$

21

 

 

$

265

 

 

$

25,303

 

Intersegment interest allocations

 

 

(1,085

)

 

 

1,085

 

 

 

—

 

 

 

—

 

 

 

—

 

Total interest expense

 

 

—

 

 

 

1,789

 

 

 

—

 

 

 

283

 

 

 

2,072

 

Net interest income (expense)

 

 

7,189

 

 

 

16,039

 

 

 

21

 

 

 

(18

)

 

 

23,231

 

Provision for loan losses

 

 

35

 

 

 

130

 

 

 

—

 

 

 

—

 

 

 

165

 

Net interest income after provision

 

 

7,154

 

 

 

15,909

 

 

 

21

 

 

 

(18

)

 

 

23,066

 

Bargain purchase gain

 

 

—

 

 

 

—

 

 

 

1,708

 

 

 

—

 

 

 

1,708

 

Other noninterest income

 

 

445

 

 

 

2,345

 

 

 

1,778

 

 

 

22

 

 

 

4,590

 

Noninterest expense

 

 

4,618

 

 

 

12,680

 

 

 

1,617

 

 

 

1,630

 

 

 

20,545

 

Operating income (loss)

 

$

2,981

 

 

$

5,574

 

 

$

1,890

 

 

$

(1,626

)

 

$

8,819

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

Asset

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2016

 

Factoring

 

 

Banking

 

 

Management

 

 

Corporate

 

 

Consolidated

 

Total interest income

 

$

23,589

 

 

$

62,399

 

 

$

125

 

 

$

605

 

 

$

86,718

 

Intersegment interest allocations

 

 

(3,351

)

 

 

3,351

 

 

 

—

 

 

 

—

 

 

 

—

 

Total interest expense

 

 

—

 

 

 

6,908

 

 

 

—

 

 

 

996

 

 

 

7,904

 

Net interest income (expense)

 

 

20,238

 

 

 

58,842

 

 

 

125

 

 

 

(391

)

 

 

78,814

 

Provision for loan losses

 

 

118

 

 

 

4,128

 

 

 

—

 

 

 

1

 

 

 

4,247

 

Net interest income after provision

 

 

20,120

 

 

 

54,714

 

 

 

125

 

 

 

(392

)

 

 

74,567

 

Other noninterest income

 

 

1,622

 

 

 

5,984

 

 

 

4,819

 

 

 

2,323

 

 

 

14,748

 

Noninterest expense

 

 

14,519

 

 

 

45,987

 

 

 

3,818

 

 

 

1,877

 

 

 

66,201

 

Operating income (loss)

 

$

7,223

 

 

$

14,711

 

 

$

1,126

 

 

$

54

 

 

$

23,114

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

Asset

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2015

 

Factoring

 

 

Banking

 

 

Management

 

 

Corporate

 

 

Consolidated

 

Total interest income

 

$

23,777

 

 

$

49,166

 

 

$

87

 

 

$

449

 

 

$

73,479

 

Intersegment interest allocations

 

 

(3,011

)

 

 

3,011

 

 

 

—

 

 

 

—

 

 

 

—

 

Total interest expense

 

 

—

 

 

 

5,035

 

 

 

10

 

 

 

833

 

 

 

5,878

 

Net interest income

 

 

20,766

 

 

 

47,142

 

 

 

77

 

 

 

(384

)

 

 

67,601

 

Provision for loan losses

 

 

402

 

 

 

2,856

 

 

 

—

 

 

 

93

 

 

 

3,351

 

Net interest income after provision

 

 

20,364

 

 

 

44,286

 

 

 

77

 

 

 

(477

)

 

 

64,250

 

Bargain purchase gain

 

 

—

 

 

 

—

 

 

 

14,217

 

 

 

—

 

 

 

14,217

 

Other noninterest income

 

 

1,227

 

 

 

7,637

 

 

 

4,087

 

 

 

558

 

 

 

13,509

 

Noninterest expense

 

 

13,380

 

 

 

37,786

 

 

 

5,053

 

 

 

4,744

 

 

 

60,963

 

Operating income (loss)

 

$

8,211

 

 

$

14,137

 

 

$

13,328

 

 

$

(4,663

)

 

$

31,013

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

Asset

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2016

 

Factoring

 

 

Banking

 

 

Management

 

 

Corporate

 

 

Eliminations

 

 

Consolidated

 

Total assets

 

$

201,788

 

 

$

2,532,416

 

 

$

15,766

 

 

$

374,892

 

 

$

(549,372

)

 

$

2,575,490

 

Gross loans

 

$

190,132

 

 

$

1,895,389

 

 

$

886

 

 

$

2,963

 

 

$

(129,515

)

 

$

1,959,855

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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