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Condensed Financial Statements of Parent Company
 12 Months Ended
Dec. 31, 2013
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Financial Statement of Parent
CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY
The following presents the unconsolidated financial statements of only the parent company, BBCN Bancorp, Inc., as of December 31, 2013 and 2012:
STATEMENTS OF FINANCIAL CONDITION
 
 
December 31,
 
2013
 
2012
 
(In thousands)
ASSETS:
 
 
 
Cash and cash equivalents
$
9,905

 
$
19,142

Other assets
27,413

 
5,477

Investment in bank subsidiary
833,098

 
769,718

TOTAL ASSETS
$
870,416

 
$
794,337

LIABILITIES:
—

 
 
Other borrowings
$
57,410

 
$
41,846

Accounts payable and other liabilities
3,631

 
1,387

Total liabilities
61,041

 
43,233

STOCKHOLDERS’ EQUITY
809,375

 
751,104

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
$
870,416

 
$
794,337



STATEMENTS OF INCOME
 
 
Years Ended December 31,
 
2013
 
2012
 
2011
 
(In thousands)
Interest income
$
—

 
$
—

 
$
—

Interest expense
1,798

 
2,064

 
1,906

Dividends from bank subsidiary
—

 
—

 
—

Other operating expense
4,499

 
7,147

 
5,024

Equity in earnings of bank subsidiary
85,854

 
88,793

 
31,508

Income before income tax benefit
79,557

 
79,582

 
24,578

Income tax benefit
2,198

 
3,641

 
2,537

Net income
$
81,755

 
83,223

 
$
27,115


 

STATEMENTS OF CASH FLOWS
 
 
Years Ended December 31,
 
2013
 
2012
 
2011
 
(In thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
 
 
Net income
$
81,755

 
$
83,223

 
$
27,115

Adjustments to reconcile net income to net cash from operating activities:
 
 
 
 
 
Amortization
259

 
163

 
20

Stock-based compensation expense
386

 
1,009

 
8

Change in other assets
(1,152
)
 
(342
)
 
(1,276
)
Change in accounts payable and other liabilities
3,324

 
207

 
(238
)
Equity in undistributed loss (earnings) of bank subsidiary
(66,113
)
 
10,207

 
(31,508
)
Net cash from operating activities
18,459

 
94,467

 
(5,879
)
CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
Cash and cash equivalents acquired through the merger
791

 
—

 
3,438

Investment in bank subsidiary
—

 
—

 
—

Net cash from investing activities
791

 
—

 
3,438

CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
Issuance of additional common stock
—

 
—

 
59,869

Issuance of additional stock pursuant to various stock plans
2,852

 
322

 
524

Tax effect on issuance of shares from stock plan
—

 
—

 
139

Redemption of subordinated debenture
(4,124
)
 
(10,400
)
 
—

Redemption of preferred stock
(7,474
)
 
(122,000
)
 
—

Redemption of common stock warrant
—

 
(2,189
)
 
—

Payments of cash dividends
(19,741
)
 
(7,549
)
 
(3,350
)
Net cash from financing activities
(28,487
)
 
(141,816
)
 
57,182

NET CHANGE IN CASH AND CASH EQUIVALENTS
(9,237
)
 
(47,349
)
 
54,741

CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR
19,142

 
66,491

 
11,750

CASH AND CASH EQUIVALENTS, END OF YEAR
$
9,905

 
$
19,142

 
$
66,491