v3.8.0.1

Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2017
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Expense (Benefit) | The Company is subject to federal income tax and California franchise tax. Income tax expense (benefit) was as follows for the years ended December 31:
(dollars in thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
Current expense: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 14,122 |  |  | $ | 10,235 |  |  | $ | 8,620 |
State |  |  | 4,384 |  |  |  | 3,459 |  |  |  | 2,700 |
Deferred expense (benefit): |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 4,677 |  |  |  | 1,263 |  |  |  | (1,525 | )
State |  |  | (166 | ) |  |  | 74 |  |  |  | (341 | )
Total |  | $ | 23,017 |  |  | $ | 15,031 |  |  | $ | 9,454 |
Schedule of Comparison of the Federal Statutory Income Tax Rates | The following is a comparison of the federal statutory income tax rates to the Company’s effective income tax rate for the years ended December 31:
|  | 2017 |  |  | 2016 |  |  | 2015 |
(dollars in thousands) |  | Amount |  |  | Rate |  |  | Amount |  |  | Rate |  |  | Amount |  |  | Rate |
Income before taxes |  | $ | 50,599 |  |  |  |  |  |  | $ | 38,334 |  |  |  |  |  |  | $ | 22,832 |  |  |  |  |
Federal tax statutory rate |  | $ | 17,710 |  |  |  | 35.00 | % |  | $ | 13,417 |  |  |  | 35.00 | % |  | $ | 7,991 |  |  |  | 35.00 | %
State tax, net of Federal benefit |  |  | 3,313 |  |  |  | 6.55 | % |  |  | 2,510 |  |  |  | 6.55 | % |  |  | 1,536 |  |  |  | 6.73 | %
Windfall benefit – exercise of stock options |  |  | (3,762 | ) |  |  | (7.43 | )% |  |  | (1,025) |  |  |  | (2.67) | % |  |  | — |  |  |  | — | %
Change in federal rate |  |  | 5,414 |  |  |  | 10.70 | % |  |  | — |  |  |  | — | % |  |  | — |  |  |  | — | %
Other items, net |  |  | 342 |  |  |  | 0.68 | % |  |  | 129 |  |  |  | 0.34 | % |  |  | (73 | ) |  |  | (0.32) | %
Effective tax rate |  | $ | 23,017 |  |  |  | 45.49 | % |  | $ | 15,031 |  |  |  | 39.22 | % |  | $ | 9,454 |  |  |  | 41.41 | %
Summary of Components of the Net Deferred Tax Assets Recognized | Deferred taxes are a result of differences between income tax accounting and generally accepted accounting principles with respect to income tax recognition. The following is a summary of the components of the net deferred tax assets recognized in the accompanying consolidated balance sheets at December 31:
(dollars in thousands) |  | 2017 |  |  | 2016 |
Deferred tax assets (liabilities) |  |  |  |  |  |  |  |
Allowance for loan and REO losses |  | $ | 4,741 |  |  | $ | 6,258 |
Operating loss carryforwards |  |  | 3,157 |  |  |  | 3,896 |
Market valuation: Acquired loans and REO |  |  | 2,505 |  |  |  | 988 |
Stock-based compensation |  |  | 678 |  |  |  | 1,171 |
State taxes |  |  | 921 |  |  |  | 1,265 |
Accumulated other comprehensive income |  |  | 2,105 |  |  |  | 3,668 |
Organizational expenses |  |  | 179 |  |  |  | 238 |
Depreciation |  |  | (833 | ) |  |  | (1,017 | )
Core deposit intangible |  |  | (1,817 | ) |  |  | (364 | )
Prepaid expenses |  |  | (586 | ) |  |  | (827 | )
Accrued vacation |  |  | 418 |  |  |  | 478 |
Other |  |  | 675 |  |  |  | 1,057 |
Net deferred tax assets |  | $ | 12,143 |  |  | $ | 16,811 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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