Loans Held for Investment (Tables)

6 Months Ended

Jun. 30, 2012

Loans Held for Investment

Summary of composition of loan portfolio

	June 30, 2012			December 31, 2011			June 30, 2011
	(in thousands)
Real estate loans:
Multi-family	$	183,742		$	193,830		$	231,604
Commercial non-owner occupied	242,700			164,341			155,419
One-to-four family (1)	56,694			60,027			64,550
Construction	281			—			—
Land	11,191			6,438			8,752
Business loans:
Commercial owner occupied (2)	150,428			152,299			147,186
Commercial and industrial	84,191			86,684			70,744
Warehouse facilities	61,111			67,518			21,758
SBA	3,995			4,727			4,682
Other loans	4,019			3,390			6,497
Total gross loans (3)	798,352			739,254			711,192
Less loans held for sale, net	2,401			—			—
Total gross loans held for investment	795,951			739,254			711,192
Less:
Deferred loan origination costs/(fees) and premiums/(discounts), net	(632		)	(665		)	(3,096		)
Allowance for loan losses	(7,658		)	(8,522		)	(8,517		)
Loans held for investment, net	$	787,661		$	730,067		$	699,579

(1)           Includes second trust deeds.

(2)           Majority secured by real estate.

(3)           Total gross loans for June 30, 2012 is net of the mark-to-market discounts on Canyon National loans of $3.7 million and on Palm Desert National loans of $11.0 million.

Summary of Company's investment in purchase credit impaired loans, acquired from Canyon National

	June 30, 2012
	Canyon National		Palm Desert National		Total
	(in thousands)
Real estate loans:
Multi-family	$	—	$	2,835	$	2,835
Commercial non-owner occupied	1,061		4,950		6,011
One-to-four family	—		36		36
Land	2,272		691		2,963
Business loans:
Commercial owner occupied	1,760		1,135		2,895
Commercial and industrial	75		—		75
Total purchase credit impaired	$	5,168	$	9,647	$	14,815

Summary of accretable yield on purchased credit impaired

	Six Months Ended
	June 30, 2012
	Canyon  National			Palm Desert National			Total
	(in thousands)
Balance at the beginning of period	$	3,248		$	—		$	3,248
Accretable yield at acquisition	—			3,908			3,908
Accretion	(303		)	(74		)	(377		)
Disposals and other	(53		)	(8		)	(61		)
Change in accretable yield	(813		)	—			(813		)
Balance at the end of period	$	2,079		$	3,826		$	5,905

Summary of Company's investment in impaired loans

					Impaired Loans
	Contractual Unpaid Principal Balance		Recorded Investment		With Specific Allowance		Without Specific Allowance		Specific Allowance for Impaired Loans		Average Recorded Investment		Interest Income Recognized
	(in thousands)
June 30, 2012
Real estate loans:
Multi-family	$	1,442	$	1,404	$	—	$	1,404	$	—	$	1,412	$	45
Commercial non-owner occupied	2,304		2,095		—		2,095		—		1,279		32
One-to-four family	670		667		—		667		—		708		22
Construction	—		—		—		—		—		—		—
Land	—		—		—		—		—		—		—
Business loans:
Commercial owner occupied	507		478		—		478		—		889		—
Commercial and industrial	—		—		—		—		—		200		—
Warehouse facilities	—		—		—		—		—		—		—
SBA	1,723		549		—		549		—		564		16
Other loans	—		—		—		—		—		—		—
Totals	$	6,646	$	5,193	$	—	$	5,193	$	—	$	5,052	$	115

					Impaired Loans
	Contractual Unpaid Principal Balance		Recorded Investment		WithSpecific Allowance		Without Specific Allowance		Specific Allowance for Impaired Loans		Average Recorded Investment		Interest Income Recognized
	(in thousands)
December 31, 2011
Real estate loans:
Multi-family	$	1,450	$	1,423	$	—	$	1,423	$	—	$	2,309	$	88
Commercial non-owner occupied	1,592		1,495		—		1,495		—		2,283		198
One-to-four family	705		521		—		521		—		311		47
Land	—		—		—		—		—		11		1
Business loans:
Commercial owner occupied	1,771		1,641		—		1,641		—		1,635		64
Commercial and industrial	1,321		1,138		—		1,138		—		373		62
SBA	2,427		773		—		773		—		887		68
Other loans	—		—		—		—		—		2		—
Totals	$	9,266	$	6,991	$	—	$	6,991	$	—	$	7,811	$	528

					Impaired Loans
	Contractual Unpaid Principal Balance		Recorded Investment		With Specific Allowance		Without Specific Allowance		Specific Allowance for Impaired Loans		Average Recorded Investment		Interest Income Recognized
	(in thousands)
June 30, 2011
Real estate loans:
Multi-family	$	4,149	$	4,149	$	—	$	4,149	$	—	$	2,786	$	52
Commercial non-owner occupied	3,427		3,427		462		2,965		44		2,736		82
One-to-four family	1,569		1,567		—		1,567		—		2,893		42
Construction	—		—		—		—		—		309		—
Land	2,523		2,523		—		2,523		—		2,627		54
Business loans:
Commercial owner occupied	5,267		5,124		—		5,124		—		5,945		124
Commercial and industrial	2,143		2,143		—		2,143		—		4,200		61
SBA	1,659		930		—		930		—		1,001		28
Other loans	22		22		—		22		—		9		2
Totals	$	20,759	$	19,885	$	462	$	19,423	$	44	$	22,506	$	445

Summary of additional detail on components of impaired loans

	June 30, 2012		December 31, 2011		June 30, 2011
	(in thousands)
Nonaccruing loans	$	3,826	$	5,590	$	10,808
Accruing loans	1,367		1,401		9,077
Total impaired loans	$	5,193	$	6,991	$	19,885

Summary of loan portfolio by the Company's internal risk grading system

	Credit Risk Grades
							Total Gross
	Pass		Mention		Substandard		Loans
June 30, 2012	(in thousands)
Real estate loans:
Multi-family	$	166,309	$	9,898	$	7,535	$	183,742
Commercial non-owner occupied	236,685		668		5,347		242,700
One-to-four family	55,303		—		1,391		56,694
Construction	281		—		—		281
Land	8,591		—		2,600		11,191
Business loans:
Commercial owner occupied	134,749		4,036		11,643		150,428
Commercial and industrial	81,359		1,753		1,079		84,191
Warehouse facilities	61,111		—		—		61,111
SBA	3,858		—		137		3,995
Other loans	3,892		—		127		4,019
Totals	$	752,138	$	16,355	$	29,859	$	798,352

	Credit Risk Grades
			Special				Total Gross
	Pass		Mention		Substandard		Loans
December 31, 2011	(in thousands)
Real estate loans:
Multi-family	$	176,477	$	13,286	$	4,067	$	193,830
Commercial non-owner occupied	160,051		676		3,614		164,341
One-to-four family	57,685		—		2,342		60,027
Land	6,386		—		52		6,438
Business loans:
Commercial owner occupied	138,975		5,689		7,635		152,299
Commercial and industrial	83,441		1,046		2,197		86,684
Warehouse facilities	67,518		—		—		67,518
SBA	4,548		—		179		4,727
Other loans	3,352		—		38		3,390
Totals	$	698,433	$	20,697	$	20,124	$	739,254

	Credit Risk Grades
			Special				Total Gross
	Pass		Mention		Substandard		Loans
June 30, 2011	(in thousands)
Real estate loans:
Multi-family	$	211,734	$	13,058	$	6,812	$	231,604
Commercial non-owner occupied	149,974		604		4,841		155,419
One-to-four family	59,991		1,951		2,608		64,550
Land	8,367		—		385		8,752
Business loans:	—
Commercial owner occupied	131,777		6,376		9,033		147,186
Commercial and industrial	64,145		1,665		4,934		70,744
Warehouse facilities	21,758		—		—		21,758
SBA	4,474		—		208		4,682
Other loans	6,396		—		101		6,497
Totals	$	658,616	$	23,654	$	28,922	$	711,192

Schedule of delinquencies in the Company's loan portfolio

			Days Past Due								Non-
	Current		30-59		60-89		90+		Total		Accruing
June 30, 2012	(in thousands)
Real estate loans:
Multi-family	$	180,907	$	—	$	2,835	$	—	$	183,742	$	3,115
Commercial non-owner occupied	241,290		259		—		1,151		242,700		2,094
One-to-four family	56,588		93		—		13		56,694		486
Construction	281		—		—		—		281		—
Land	10,934		—		—		257		11,191		691
Business loans:
Commercial owner occupied	148,900		—		—		1,528		150,428		1,528
Commercial and industrial	84,141		—		50		—		84,191		9
Warehouse facilities	61,111		—		—		—		61,111		—
SBA	3,475		46		—		474		3,995		503
Other loans	4,018		1		—		—		4,019		—
Totals	$	791,645	$	399	$	2,885	$	3,423	$	798,352	$	8,426

			Days Past Due								Non-
	Current		30-59		60-89		90+		Total		Accruing
December 31, 2011	(in thousands)
Real estate loans:
Multi-family	$	193,830	$	—	$	—	$	—	$	193,830	$	293
Commercial non-owner occupied	162,663		434		—		1,244		164,341		1,495
One-to-four family	59,503		201		—		323		60,027		323
Land	5,769		—		617		52		6,438		52
Business loans:
Commercial owner occupied	151,380		—		—		919		152,299		2,053
Commercial and industrial	85,615		12		—		1,057		86,684		1,177
Warehouse facilities	67,518		—		—		—		67,518		—
SBA	3,900		49		113		665		4,727		700
Other loans	3,386		3		1		—		3,390		—
Totals	$	733,564	$	699	$	731	$	4,260	$	739,254	$	6,093

			Days Past Due								Non-
	Current		30-59		60-89		90+		Total		Accruing
June 30, 2011	(in thousands)
Real estate loans:
Multi-family	$	228,899	$	—	$	—	$	2,705	$	231,604	$	3,011
Commercial non-owner occupied	153,280		328		989		822		155,419		2,502
One-to-four family	63,591		116		518		325		64,550		332
Land	8,433		62		—		257		8,752		257
Business loans:
Commercial owner occupied	142,756		852		1,709		1,869		147,186		1,869
Commercial and industrial	68,557		1,089		20		1,078		70,744		2,063
Warehouse facilities	21,758		—		—		—		21,758		—
SBA	3,890		72		—		720		4,682		834
Other loans	6,415		37		26		19		6,497		20
Totals	$	697,579	$	2,556	$	3,262	$	7,795	$	711,192	$	10,888