Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.3.1.900
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Assets    
Cash and due from banks $ 164,364 $ 158,320
Securities available for sale, at fair value (amortized cost of $700,627 as of December 31, 2015 and $1,061,703 as of December 31, 2014) 698,296 1,060,717
Loans held for sale, at the lower of cost or fair value 2,874 5,451
Loans receivable, net of allowance for loan losses of $42,935 as of December 31, 2015 and $52,666 as of December 31, 2014 3,140,381 2,735,832
Accrued interest receivable 9,501 9,749
Premises and equipment, net 29,834 30,912
Other real estate owned (“OREO”), net 8,511 15,790
Customers’ liability on acceptances 3,586 1,847
Servicing assets 11,744 13,773
Other intangible assets, net 1,701 2,080
Federal Home Loan Bank stock (“FHLB”), at cost 16,385 17,580
Federal Reserve Bank (“FRB”) stock, at cost 14,098 12,273
Deferred tax assets 52,095 70,150
Current tax assets 5,079 14,221
Bank-owned life insurance 48,340 48,866
Prepaid expenses and other assets 27,732 34,882
Total assets 4,234,521 4,232,443
Deposits:    
Noninterest-bearing 1,155,518 1,022,972
Interest-bearing 2,354,458 2,533,774
Total deposits 3,509,976 3,556,746
Accrued interest payable 3,177 3,450
Bank’s liability on acceptances 3,586 1,847
FHLB advances 170,000 150,000
Servicing liabilities 4,784 5,971
Federal Deposit Insurance Corporation (FDIC) loss sharing liability 1,289 2,074
Rescinded stock obligation 0 933
Subordinated debentures 18,703 18,544
Accrued expenses and other liabilities 29,088 39,491
Total liabilities 3,740,603 3,779,056
Stockholders’ equity:    
Common stock, $0.001 par value; authorized 62,500,000 shares; issued 32,566,522 shares (31,974,359 shares outstanding) as of December 31, 2015 and issued 32,488,097 shares (31,910,203 shares outstanding) as of December 31, 2014 257 257
Additional paid-in capital 557,761 554,904
Accumulated other comprehensive (loss) income, net of tax benefit of $2,007 as of December 31, 2015 and tax benefit of $1,432 as of December 31, 2014 (315) 463
Retained earnings (accumulated deficit) 6,422 (32,379)
Less: treasury stock, at cost; 592,163 shares as of December 31, 2015 and 577,894 shares as of December 31, 2014 (70,207) (69,858)
Total stockholders’ equity 493,918 453,387
Total liabilities and stockholders’ equity $ 4,234,521 $ 4,232,443