1 A reconciliation of Non-GAAP financial measures can be found in the financial tables attached hereto.
Continued Balance Sheet Growth
Total assets increased by $1.3 billion, or 9%, to $15.0 billion at June 30, 2012, from $13.8 billion at March 31, 2012, and by $2.5 billion, or 20%, from $12.5 billion at June 30, 2011. Our interest-earning assets for the second quarter 2012 were largely comprised of:
- Residential loans held for investment which increased by 1% to $5.1 billion from the second quarter of 2011;
- Commercial and commercial real estate loans which increased by 63% to $1.8 billion, from the second quarter of 2011, excluding the warehouse loans acquired at closing of the warehouse finance acquisition, commercial and commercial real estate loans increased by 32% from the second quarter of 2011;
- Commercial leases which increased by 43% to $0.7 billion, from the second quarter of 2011;
- Loans held for sale, which now includes the majority of our GNMA pool buyouts, increased by 301% to $3.2 billion, from the second quarter of 2011; and
- Investment securities which decreased by 26% to $2.2 billion, from the second quarter of 2011.
- Non-interest bearing accounts were $1.4 billion, or 13%, of total deposits;
- Interest-bearing checking accounts were $2.2 billion, or 20%, of total deposits;
- Savings and money market accounts were $4.0 billion, or 37%, of total deposits;
- Global markets money market and time accounts were $1.3 billion, or 12%, of total deposits; and
- Time deposit accounts, excluding global markets, were $2.1 billion, or 19%, of total deposits.
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