CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
| Interest income: |
|
|
|
| Loans |
$ 134,930
|
$ 102,857
|
$ 99,455
|
| Securities |
18,332
|
17,265
|
14,309
|
| Leases |
556
|
0
|
0
|
| Interest income − other |
4,259
|
6,785
|
4,212
|
| Total interest income |
158,077
|
126,907
|
117,976
|
| Interest expense |
65,653
|
45,473
|
61,010
|
| Net interest income |
92,424
|
81,434
|
56,966
|
| Rental income |
0
|
8,441
|
19,923
|
| Dividend income |
66
|
186
|
273
|
| Fee income |
9,509
|
9,385
|
5,821
|
| Total revenues |
101,999
|
99,446
|
82,983
|
| OPERATING EXPENSES |
|
|
|
| Management fees − related party |
13,306
|
13,584
|
14,220
|
| Equity compensation − related party |
3,145
|
6,566
|
10,472
|
| Rental operating expense |
6
|
5,443
|
14,062
|
| Lease operating |
57
|
0
|
0
|
| General and administrative |
48,080
|
34,861
|
14,507
|
| Depreciation and amortization |
4,858
|
2,737
|
3,855
|
| Impairment losses |
372
|
0
|
863
|
| Provision for loan and lease losses |
49,889
|
1,804
|
3,020
|
| Total operating expenses |
119,713
|
64,995
|
60,999
|
| Net interest and other revenues less operating expenses |
(17,714)
|
34,451
|
21,984
|
| OTHER INCOME (EXPENSE) |
|
|
|
| Equity in earnings of unconsolidated subsidiaries |
2,388
|
4,767
|
949
|
| Net realized and unrealized gain (loss) on sales of investment securities available-for-sale and loans and derivatives |
35,703
|
15,283
|
9,637
|
| Net realized and unrealized (loss) gain on investment securities, trading |
(547)
|
(2,818)
|
(324)
|
| Unrealized gain (loss) and net interest income on linked transactions, net |
235
|
7,850
|
(3,841)
|
| (Loss) on reissuance/gain on extinguishment of debt |
(1,403)
|
(4,442)
|
0
|
| Gain on sale of real estate |
206
|
6,127
|
16,616
|
| Other income (expense) |
60
|
(1,262)
|
391
|
| Total other income (expense) |
36,642
|
25,505
|
23,428
|
| INCOME (LOSS) BEFORE TAXES |
18,928
|
59,956
|
45,412
|
| Income tax (expense) benefit |
(1,745)
|
2,212
|
1,041
|
| NET INCOME (LOSS) |
17,183
|
62,168
|
46,453
|
| Net (income) loss allocable to non-controlling interest, net of taxes |
(24,437)
|
(17,176)
|
(7,221)
|
| Net (income) loss allocable to non-controlling interest, net of taxes |
(6,628)
|
(965)
|
0
|
| NET INCOME (LOSS) ALLOCABLE TO COMMON SHARES |
$ (13,882)
|
$ 44,027
|
$ 39,232
|
| NET INCOME PER SHARE - BASIC (in dollars per share) |
$ (0.43)
|
$ 1.38
|
$ 1.32
|
| NET INCOME PER SHARE - DILUTED (in dollars per shares) |
$ (0.43)
|
$ 1.36
|
$ 1.31
|
| WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING - BASIC (in shares) |
32,280,319
|
32,007,766
|
29,619,668
|
| WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING - DILUTED (in shares) |
32,280,319
|
32,314,847
|
30,009,743
|