Loans Held for Investment (Tables)

9 Months Ended

Sep. 30, 2012

Loans Held for Investment

Summary of composition of loan portfolio

	September 30, 2012			December 31, 2011			September 30, 2011
	(in thousands)
Real estate loans:
Multi-family	$	173,484		$	193,830		$	211,514
Commercial non-owner occupied	262,046			164,341			164,797
One-to-four family (1)	62,771			60,027			62,638
Construction	308			—			—
Land	11,005			6,438			8,496
Business loans:
Commercial owner occupied (2)	148,139			152,299			164,268
Commercial and industrial	88,105			86,684			74,434
Warehouse facilities	112,053			67,518			42,644
SBA	4,736			4,727			4,870
Other loans	2,191			3,390			2,215
Total gross loans (3)	864,838			739,254			735,876
Less loans held for sale, net	4,728			—			—
Total gross loans held for investment	860,110			739,254			735,876
Less:
Deferred loan origination costs/(fees) and premiums/(discounts), net	(737		)	(665		)	(1,402		)
Allowance for loan losses	(7,658		)	(8,522		)	(8,522		)
Loans held for investment, net	$	851,715		$	730,067		$	725,952

(1)           Includes second trust deeds.

(2)           Majority secured by real estate.

(3)           Total gross loans for September 30, 2012 is net of the mark-to-market discounts on Canyon National loans of $3.1 million and on Palm Desert National loans of $6.3 million.

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

	September 30, 2012
	Canyon National		Palm Desert National		Total
	(in thousands)
Real estate loans:
Commercial non-owner occupied	$	1,051	$	4,985	$	6,036
One-to-four family	—		33		33
Land	2,293		280		2,573
Business loans:
Commercial owner occupied	972		277		1,249
Commercial and industrial	79		202		281
Total purchase credit impaired	$	4,395	$	5,777	$	10,172

Summary of accretable yield on purchased credit impaired

	Nine Months Ended September 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	(415		)	(143		)	(558		)
Disposals and other	(129		)	(208		)	(337		)
Change in accretable yield	(813		)	(3,262		)	(4,075		)
Balance at the end of period	$	1,891		$	295		$	2,186

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)
September 30, 2012
Real estate loans:
Multi-family	$	1,437	$	1,394	$	—	$	1,394	$	—	$	1,408	$	67
Commercial non-owner occupied	507		460		—		445		—		1,257		15
One-to-four family	657		643		299		350		153		657		31
Construction	—		—		—		—		—		—		—
Land	—		—		—		—		—		—		—
Business loans:
Commercial owner occupied	—		—		—		—		—		592		—
Commercial and industrial	59		60		59		—		36		140		3
Warehouse facilities	—		—		—		—		—		—		—
SBA	1,368		309		—		305		—		518		37
Other loans	—		—		—		—		—		—		—
Totals	$	4,028	$	2,866	$	358	$	2,494	$	189	$	4,571	$	153

					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)
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)
September 30, 2011
Real estate loans:
Multi-family	$	1,433	$	1,454	$	—	$	1,433	$	—	$	2,710	$	54
Commercial non-owner occupied	2,457		2,552		—		2,457		—		2,684		109
One-to-four family	1,218		1,785		—		1,218		—		2,064		24
Construction	—		—		—		—		—		206		—
Land	198		475		—		198		—		1,759		3
Business loans:
Commercial owner occupied	2,760		3,453		—		2,760		—		4,360		61
Commercial and industrial	1,983		5,339		—		1,983		—		2,886		76
SBA	725		1,484		—		725		—		934		67
Other loans	—		—		—		—		—		9		—
Totals	$	10,774	$	16,542	$	—	$	10,774	$	—	$	17,612	$	394

Summary of additional detail on components of impaired loans

	September 30, 2012		December 31, 2011		September 30, 2011
	(in thousands)
Nonaccruing loans	$	1,439	$	5,590	$	9,357
Accruing loans	1,413		1,401		1,417
Total impaired loans	$	2,852	$	6,991	$	10,774

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

	Credit Risk Grades
			Special					Total Gross
	Pass		Mention		Substandard			Loans
	(in thousands)
September 30, 2012
Real estate loans:
Multi-family	$	170,365	$	—	$	3,119		$	173,484
Commercial non-owner occupied	252,216		663		9,167			262,046
One-to-four family	61,378		—		1,393			62,771
Construction	308		—		—			308
Land	9,009		—		1,996			11,005
Business loans:
Commercial owner occupied	133,414		3,334		11,391			148,139
Commercial and industrial	86,000		847		1,258			88,105
Warehouse facilities	112,053		—		—			112,053
SBA	8,330		—		(3,594		)	4,736
Other loans	2,174		—		17			2,191
Totals	$	835,247	$	4,844	$	24,747		$	864,838
	Credit Risk Grades
			Special					Total Gross
	Pass		Mention		Substandard			Loans
	(in thousands)
December 31, 2011
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
	(in thousands)
September 30, 2011
Real estate loans:
Multi-family	$	193,593	$	13,835	$	4,086		$	211,514
Commercial non-owner occupied	158,863		566		5,368			164,797
One-to-four family	57,661		1,948		3,029			62,638
Land	6,018		—		2,478			8,496
Business loans:								—
Commercial owner occupied	150,986		5,722		7,560			164,268
Commercial and industrial	68,693		1,478		4,263			74,434
Warehouse facilities	42,644		—		—			42,644
SBA	4,710		—		160			4,870
Other loans	2,183		—		32			2,215
Totals	$	685,351	$	23,549	$	26,976		$	735,876

Schedule of delinquencies in the Company's loan portfolio

			Days Past Due								Non-
	Current		30-59		60-89		90+		Total		Accruing
	(in thousands)
September 30, 2012
Real estate loans:
Multi-family	$	173,484	$	—	$	—	$	—	$	173,484	$	273
Commercial non-owner occupied	256,489		1,708		—		3,849		262,046		4,528
One-to-four family	62,307		301		43		120		62,771		578
Construction	308		—		—		—		308		—
Land	10,776		229		—		—		11,005		417
Business loans:
Commercial owner occupied	147,812		327		—		—		148,139		218
Commercial and industrial	87,984		—		121		—		88,105		—
Warehouse facilities	112,053		—		—		—		112,053		—
SBA	4,551		—		—		185		4,736		266
Other loans	2,191		—		—		—		2,191		—
Totals	$	857,955	$	2,565	$	164	$	4,154	$	864,838	$	6,280
			Days Past Due								Non-
	Current		30-59		60-89		90+		Total		Accruing
	(in thousands)
December 31, 2011
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
	(in thousands)
September 30, 2011
Real estate loans:
Multi-family	$	211,514	$	—	$	—	$	—	$	211,514	$	300
Commercial non-owner occupied	163,110		214		418		1,055		164,797		2,457
One-to-four family	60,685		615		320		1,018		62,638		1,018
Land	8,290		8		—		198		8,496		198
Business loans:
Commercial owner occupied	161,998		417		—		1,853		164,268		2,760
Commercial and industrial	70,395		1,898		158		1,983		74,434		1,983
Warehouse facilities	42,644		—		—		—		42,644		—
SBA	4,267		—		41		562		4,870		641
Other loans	2,215		—		—		—		2,215		—
Totals	$	725,118	$	3,152	$	937	$	6,669	$	735,876	$	9,357