XML 18 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
9 Months Ended 12 Months Ended
Dec. 31, 2013
Dec. 31, 2015
Dec. 31, 2014
Interest income      
Loans $ 57,702 $ 66,463 $ 69,213
Investment securities and Federal Home Loan Bank stock 4,179 6,412 5,996
Interest-earning deposits 342 335 371
Total interest income 62,223 73,210 75,580
Interest expense      
Deposits 4,108 4,186 4,099
Borrowed funds 10,009 243 245
Total interest expense 14,117 4,429 4,344
Net interest income 48,106 68,781 71,236
Provision for loan losses 275 (29,496) (4,585)
Net interest income after provision for loan losses 47,831 98,277 75,821
Non-interest income      
Service charges on deposits 7,751 10,061 10,017
Investment and insurance commissions 2,965 4,166 4,222
Loan fees 939 2,440 882
Loan servicing income, net of amortization 1,382 2,035 2,821
Loan processing fee income 1,255 1,241 844
Net impairment losses recognized in earnings (23) 0 (64)
Net gain on sale of loans 5,086 6,083 2,797
Net gain on sale of investment securities 292 63 746
Net gain on sale of OREO 3,260 3,828 2,540
Extinguishment of debt 134,514 0 0
Net gain (loss) on sale of disposal of premises and equipment (3) 1,676 1,328
Net gain on sale of branches 0 986 991
Other income 2,115 2,392 3,395
Total non-interest income 159,533 34,971 30,519
Non-interest expense      
Compensation and benefits 32,426 45,831 44,256
Occupancy 6,517 6,366 7,374
Furniture and equipment 2,510 2,602 3,038
Federal deposit insurance premiums 3,386 2,226 3,151
Data processing 4,300 6,512 5,602
Communications 1,517 1,960 1,987
Marketing 2,099 2,698 3,676
OREO expense, net 9,797 2,344 9,779
Investor loss reimbursement 687 (212) 50
MSR impairment (recovery) (1,664) (596) 534
Provision for unfunded commitments 2,708 17 (2,107)
Loan processing and servicing expense 2,549 2,774 2,435
Retail operations expense 1,793 2,620 2,490
Legal services 2,773 1,394 1,961
Other professional fees 1,699 1,899 1,452
Insurance 2,497 916 1,057
Lease termination expense 0 1,454 0
Debt prepayment penalty 16,149 0 0
Reorganization costs 1,929 0 (64)
Other expense 2,060 4,132 5,037
Total non-interest expense 95,732 84,937 91,708
Income before income taxes 111,632 48,311 14,632
Income tax expense (benefit) 9 (89,447) 10
Net income 111,623 137,758 14,622
Preferred stock dividends in arrears (2,538) 0 0
Preferred stock discount accretion (6,167) 0 0
Retirement of preferred shares 104,000 0 0
Net income available to common equity 206,918 137,758 14,622
Reclassification adjustment recognized in Consolidated Statements of Operations – Net gain on sale of investment securities (292) (63) (746)
Reclassification adjustments recognized in Consolidated Statements of Operations – Net impairment losses recognized in earnings:      
Net change in unrealized credit related other-than-temporary impairment (201) 0 (157)
Realized credit losses 224 0 221
Change in net unrealized gains (losses) on AFS securities (9,932) (1,354) 4,902
Tax effect related to items of other comprehensive income 0 569 0
Total other comprehensive income (loss) (10,201) (848) 4,220
Comprehensive income $ 101,422 $ 136,910 $ 18,842
Income (loss) per common share:      
Basic (usd per share) $ 12.18 $ 14.64 $ 1.61
Diluted (usd per share) 12.18 14.57 1.60
Dividends declared per common share (usd per share) $ 0 $ 0 $ 0