Loans (Tables)
|
9 Months Ended |
Sep. 30, 2017 |
|---|
| Receivables [Abstract] |
|
| Summary of Loans |
The following is a summary of our loans as of:
|
(dollars in thousands) |
September 30,
2017 |
|
|
December 31,
2016 |
|
|
Outstanding principal balance: |
|
|
|
|
|
|
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
Residential properties: |
|
|
|
|
|
|
|
|
Multifamily |
$ |
1,784,061 |
|
|
$ |
1,178,003 |
|
|
Single family |
|
616,478 |
|
|
|
602,886 |
|
|
Total real estate loans secured by residential properties |
|
2,400,539 |
|
|
|
1,780,889 |
|
|
Commercial properties |
|
529,590 |
|
|
|
476,959 |
|
|
Land and construction |
|
31,304 |
|
|
|
24,100 |
|
|
Total real estate loans |
|
2,961,433 |
|
|
|
2,281,948 |
|
|
Commercial and industrial loans |
|
259,958 |
|
|
|
237,941 |
|
|
Consumer loans |
|
28,469 |
|
|
|
32,127 |
|
|
Total loans |
|
3,249,860 |
|
|
|
2,552,016 |
|
|
Premiums, discounts and deferred fees and expenses |
|
7,014 |
|
|
|
3,693 |
|
|
Total |
$ |
3,256,874 |
|
|
$ |
2,555,709 |
|
|
| Carrying Amount of Purchased Credit Impaired Loans |
In 2012 and 2015, the Company purchased loans, for which there was, at acquisition, evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. The carrying amount of these purchased credit impaired loans is as follows as of:
|
(dollars in thousands) |
September 30, 2017 |
|
|
December 31,
2016 |
|
|
Outstanding principal balance: |
|
|
|
|
|
|
|
|
Total real estate loans |
$ |
285 |
|
|
$ |
295 |
|
|
Commercial and industrial loans |
|
2,416 |
|
|
|
4,258 |
|
|
Consumer loans |
|
— |
|
|
|
17 |
|
|
Total loans |
|
2,701 |
|
|
|
4,570 |
|
|
Unaccreted discount on purchased credit impaired loans |
|
(884 |
) |
|
|
(1,197 |
) |
|
Total |
$ |
1,817 |
|
|
$ |
3,373 |
|
|
| Accretable Yield or Income Expected to be Collected on Purchased Credit Impaired Loans and Related Changes |
Accretable yield, or income expected to be collected on purchased credit impaired loans, and the related changes, is as follows for the periods indicated:
|
(dollars in thousands) |
Nine Months Ended September 30, 2017 |
|
|
Year Ended December 31,
2016 |
|
|
|
|
|
|
|
|
|
|
|
Beginning balance |
$ |
289 |
|
|
$ |
582 |
|
|
Accretion of income |
|
(82 |
) |
|
|
(185 |
) |
|
Reclassifications from nonaccretable difference |
|
66 |
|
|
|
— |
|
|
Disposals |
|
— |
|
|
|
(108 |
) |
|
Ending balance |
$ |
273 |
|
|
$ |
289 |
|
|
| Summary of Delinquent and Nonaccrual Loans |
The following table summarizes our delinquent and nonaccrual loans as of:
|
|
|
Past Due and Still Accruing |
|
|
|
|
|
Total Past |
|
|
|
|
|
|
|
|
(dollars in thousands) |
|
30–59 Days |
|
|
60-89 Days |
|
|
90 Days
or More |
|
|
Nonaccrual |
|
|
Due and
Nonaccrual |
|
|
Current |
|
|
Total |
|
|
September 30, 2017: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential properties |
|
$ |
53 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
53 |
|
|
$ |
2,400,486 |
|
|
$ |
2,400,539 |
|
|
Commercial properties |
|
|
762 |
|
|
|
— |
|
|
|
1,330 |
|
|
|
1,278 |
|
|
|
3,370 |
|
|
|
526,220 |
|
|
|
529,590 |
|
|
Land and construction |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
31,304 |
|
|
|
31,304 |
|
|
Commercial and industrial loans |
|
|
10,926 |
|
|
|
— |
|
|
|
815 |
|
|
|
5,216 |
|
|
|
16,957 |
|
|
|
243,001 |
|
|
|
259,958 |
|
|
Consumer loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
28,469 |
|
|
|
28,469 |
|
|
Total |
|
$ |
11,741 |
|
|
$ |
— |
|
|
$ |
2,145 |
|
|
$ |
6,494 |
|
|
$ |
20,380 |
|
|
$ |
3,229,480 |
|
|
$ |
3,249,860 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percentage of total loans |
|
|
0.36 |
% |
|
|
— |
% |
|
|
0.07 |
% |
|
|
0.20 |
% |
|
|
0.63 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2016: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential properties |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
3,759 |
|
|
$ |
3,759 |
|
|
$ |
1,777,130 |
|
|
$ |
1,780,889 |
|
|
Commercial properties |
|
|
— |
|
|
|
— |
|
|
|
2,128 |
|
|
|
1,120 |
|
|
|
3,248 |
|
|
|
473,711 |
|
|
|
476,959 |
|
|
Land and construction |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
24,100 |
|
|
|
24,100 |
|
|
Commercial and industrial loans |
|
|
— |
|
|
|
2 |
|
|
|
3,800 |
|
|
|
3,359 |
|
|
|
7,161 |
|
|
|
230,780 |
|
|
|
237,941 |
|
|
Consumer loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
32,127 |
|
|
|
32,127 |
|
|
Total |
|
$ |
— |
|
|
$ |
2 |
|
|
$ |
5,928 |
|
|
$ |
8,238 |
|
|
$ |
14,168 |
|
|
$ |
2,537,848 |
|
|
$ |
2,552,016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percentage of total loans |
|
|
— |
% |
|
|
0.00 |
% |
|
|
0.23 |
% |
|
|
0.32 |
% |
|
|
0.56 |
% |
|
|
|
|
|
|
|
|
|
| Composition of TDRs by Accrual and Nonaccrual Status |
|
|
|
September 30, 2017 |
|
|
|
December 31, 2016 |
|
|
(dollars in thousands) |
|
Accrual |
|
|
|
Nonaccrual |
|
|
Total |
|
|
|
Accrual |
|
|
Nonaccrual |
|
|
Total |
|
|
Commercial and industrial |
|
$ |
225 |
|
|
$ |
2,522 |
|
|
$ |
2,747 |
|
|
$ |
317 |
|
|
$ |
3,109 |
|
|
$ |
3,426 |
|
|