R
|
QUARTERLY
REPORT PURSUANT TO SECTION 13 OR
15(d)
|
|
OF
THE SECURITIES EXCHANGE ACT OF 1934
|
£
|
TRANSITION
REPORT PURSUANT TO SECTION 13 OR
15(d)
|
|
OF
THE SECURITIES EXCHANGE ACT OF 1934
|
IMPERIAL
CAPITAL BANCORP, INC.
|
||
(Exact Name
of Registrant as Specified in its Charter)
|
Delaware
|
95-4596322
|
|
(State or
Other Jurisdiction of Incorporation or
Organization)
|
(IRS
Employer Identification No.)
|
|
888
Prospect St., Suite 110, La Jolla, California
|
92037
|
|
(Address of
Principal Executive Offices)
|
(Zip
Code)
|
(858)
551-0511
|
(Registrant’s
Telephone Number, Including Area
Code)
|
Indicate
by check mark whether the registrant (1) has filed all reports required to
be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. Yes R No
£
|
Indicate
by check mark whether the registrant has submitted electronically and
posted on its corporate Web site, if any, every Interactive Data File
required to be submitted and posted pursuant to Rule 405 of Regulation S-T
(§ 232.405 of this chapter) during the preceding 12 months (or for such
shorter period that the registrant was required to submit and post such
files). Yes £ No
£
|
Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer or a smaller reporting company.
See definitions of “larger accelerated filer,” “accelerated filer” and
“small reporting company” in Rule 12b-2 of the Exchange Act.
Large
Accelerated Filer £ Accelerated
Filer £
Non-Accelerated
Filer £ (Do not
check if a smaller reporting company) Smaller reporting
company R
|
Indicate
by check mark whether the Registrant is a shell company (as
defined in Rule 12b-2 of the Exchange Act). Yes £ No
R
|
Number
of shares of common stock of the registrant: 5,428,760 outstanding as of
May 8, 2009.
|
4
|
||
5
|
||
6
|
||
7
|
||
16
|
||
30
|
||
30
|
||
32
|
||
32
|
||
32
|
||
32
|
||
32
|
||
32
|
||
32
|
||
33
|
IMPERIAL
CAPITAL BANCORP, INC. AND SUBSIDIARIES
|
||||||||
CONSOLIDATED
BALANCE SHEETS
|
||||||||
March
31,
|
||||||||
2009
|
December
31,
|
|||||||
(unaudited)
|
2008
|
|||||||
(in
thousands, except share data)
|
||||||||
Assets
|
||||||||
Cash
and cash equivalents
|
$ | 325,438 | $ | 403,119 | ||||
Investment
securities available-for-sale, at fair value
|
404,041 | 146,799 | ||||||
Investment
securities held-to-maturity, at amortized cost
|
905,565 | 942,686 | ||||||
Stock
in Federal Home Loan Bank
|
63,498 | 63,498 | ||||||
Loans,
net (net of allowance for loan losses of $62,938 and $50,574 as
of March 31, 2009 and December 31, 2008, respectively)
|
2,680,832 | 2,748,956 | ||||||
Interest
receivable
|
20,772 | 21,305 | ||||||
Other
real estate and other assets owned, net
|
49,947 | 38,031 | ||||||
Premises
and equipment, net
|
7,139 | 7,701 | ||||||
Deferred
income taxes
|
18,774 | 22,338 | ||||||
Goodwill
|
3,118 | 3,118 | ||||||
Other
assets
|
40,979 | 42,287 | ||||||
Total
assets
|
$ | 4,520,103 | $ | 4,439,838 | ||||
Liabilities
and Shareholders’ Equity
|
||||||||
Liabilities:
|
||||||||
Deposit
accounts
|
$ | 3,109,142 | $ | 2,931,040 | ||||
Federal
Home Loan Bank advances and other borrowings
|
1,124,794 | 1,205,633 | ||||||
Accounts
payable and other liabilities
|
28,904 | 26,996 | ||||||
Junior
subordinated debentures
|
86,600 | 86,600 | ||||||
Total
liabilities
|
4,349,440 | 4,250,269 | ||||||
Commitments
and contingencies
|
||||||||
Shareholders’
equity:
|
||||||||
Preferred
stock, 5,000,000 shares authorized, none issued
|
— | — | ||||||
Contributed
capital - common stock, $.01 par value; 20,000,000 shares authorized,
9,146,256 and 9,146,256 issued as of March 31, 2009 and December 31, 2008,
respectively
|
85,129 | 85,407 | ||||||
Retained
earnings
|
204,749 | 222,483 | ||||||
Accumulated
other comprehensive loss, net
|
(4,031 | ) | (2,682 | ) | ||||
285,847 | 305,208 | |||||||
Less
treasury stock, at cost 4,074,834 and 4,126,116 shares as of March
31, 2009 and December 31, 2008, respectively
|
(115,184 | ) | (115,639 | ) | ||||
Total
shareholders' equity
|
170,663 | 189,569 | ||||||
Total
liabilities and shareholders' equity
|
$ | 4,520,103 | $ | 4,439,838 |
IMPERIAL CAPITAL BANCORP, INC. AND
SUBSIDIARIES
|
CONSOLIDATED
STATEMENTS OF OPERATIONS
|
(Unaudited)
|
For
the Three Months Ended March 31,
|
||||||||
2009
|
2008
|
|||||||
(in
thousands, except per share data)
|
||||||||
Interest
income:
|
||||||||
Loans,
including fees
|
$ | 41,463 | $ | 54,835 | ||||
Cash
and investment securities
|
20,329 | 4,249 | ||||||
Total
interest income
|
61,792 | 59,084 | ||||||
Interest
expense:
|
||||||||
Deposit
accounts
|
28,439 | 25,083 | ||||||
Federal
Home Loan Bank advances and other borrowings
|
12,787 | 11,918 | ||||||
Junior
subordinated debentures
|
1,637 | 2,005 | ||||||
Total
interest expense
|
42,863 | 39,006 | ||||||
Net
interest income before provision for loan losses
|
18,929 | 20,078 | ||||||
Provision
for loan losses
|
19,175 | 4,250 | ||||||
Net
interest income (expense) after provision for loan losses
|
(246 | ) | 15,828 | |||||
Non-interest
income:
|
||||||||
Late
and collection fees
|
210 | 219 | ||||||
Other
|
403 | 49 | ||||||
Total
non-interest income
|
613 | 268 | ||||||
Non-interest
expense:
|
||||||||
Compensation
and benefits
|
6,049 | 6,864 | ||||||
Occupancy
and equipment
|
1,743 | 1,942 | ||||||
Other
|
6,562 | 4,684 | ||||||
Total
general and administrative
|
14,354 | 13,490 | ||||||
Real
estate and other assets owned expense, net
|
3,747 | 1,455 | ||||||
Total
non-interest expense
|
18,101 | 14,945 | ||||||
(Loss)
income before provision for income taxes
|
(17,734 | ) | 1,151 | |||||
Provision
for income taxes
|
— | 454 | ||||||
NET
(LOSS) INCOME
|
$ | (17,734 | ) | $ | 697 | |||
Basic
(losses) earnings per share
|
$ | (3.27 | ) | $ | 0.13 | |||
Diluted
(losses) earnings per share
|
$ | (3.27 | ) | $ | 0.13 | |||
Dividends
declared per share of common stock
|
$ | — | $ | 0.16 |
IMPERIAL CAPITAL BANCORP, INC. AND
SUBSIDIARIES
|
||||||||
CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
||||||||
(Unaudited)
|
||||||||
For
the Three Months Ended March
31,
|
||||||||
2009
|
2008
|
|||||||
(in
thousands)
|
||||||||
Cash
Flows From Operating Activities:
|
||||||||
Net
(Loss) Income
|
$ | (17,734 | ) | $ | 697 | |||
Adjustments
to reconcile net (loss) income to net cash provided by operating
activities:
|
||||||||
Depreciation
and amortization of premises and equipment
|
640 | 719 | ||||||
Amortization
of premium on purchased loans
|
352 | 1,095 | ||||||
Accretion
of deferred loan origination fees, net of costs
|
(596 | ) | (800 | ) | ||||
Accretion
of discounts on investment securities, net
|
(4,213 | ) | (298 | ) | ||||
Provision
for loan losses
|
19,175 | 4,250 | ||||||
Provision
for losses on other real estate owned
|
2,507 | 627 | ||||||
Deferred
income tax expense (benefit)
|
4,463 | (10 | ) | |||||
Other,
net
|
(954 | ) | (228 | ) | ||||
Decrease
in interest receivable
|
533 | 126 | ||||||
Decrease
in other assets
|
1,308 | 184 | ||||||
Increase
(decrease) in accounts payable and other liabilities
|
1,908 | (5,671 | ) | |||||
Net cash provided by operating
activities
|
7,389 | 691 | ||||||
Cash
Flows From Investing Activities:
|
||||||||
Purchases
of investment securities available-for-sale
|
(301,756 | ) | (10,143 | ) | ||||
Proceeds
from sales, maturities and calls of investment securities
available-for-sale
|
43,881 | 10,125 | ||||||
Purchases
of investment securities held-to-maturity
|
— | (57,576 | ) | |||||
Proceeds
from the maturity and redemption of investment securities
held-to-maturity
|
41,112 | 8,046 | ||||||
Decrease
in loans, net
|
32,785 | 46,658 | ||||||
Proceeds
from sale of other real estate owned
|
1,742 | 4,400 | ||||||
Cash
paid for capital expenditures
|
(97 | ) | (817 | ) | ||||
Net cash (used in) provided by
investing activities
|
(182,333 | ) | 693 | |||||
Cash
Flows From Financing Activities:
|
||||||||
Proceeds
and excess tax benefits from exercise of employee stock
options
|
— | 56 | ||||||
Cash
paid to acquire treasury stock
|
— | (1,114 | ) | |||||
Cash
dividends paid
|
— | (828 | ) | |||||
Increase
(decrease) in deposit accounts
|
178,102 | (115,312 | ) | |||||
Net
proceeds from short-term borrowings
|
— | 153,000 | ||||||
Proceeds
from long-term borrowings
|
— | 40,500 | ||||||
Repayments
of long-term borrowings
|
(80,839 | ) | (78,952 | ) | ||||
Net cash provided by (used in)
financing activities
|
97,263 | (2,650 | ) | |||||
Net decrease in cash and cash
equivalents
|
(77,681 | ) | (1,266 | ) | ||||
Cash and cash equivalents,
beginning of period
|
403,119 | 8,944 | ||||||
Cash and cash equivalents, end
of period
|
$ | 325,438 | $ | 7,678 | ||||
Supplemental
Cash Flow Information:
|
||||||||
Cash
paid during the period for interest
|
$ | 39,750 | $ | 38,716 | ||||
Cash
paid during the period for income taxes
|
$ | 117 | $ | 73 | ||||
Non-Cash
Investing and Financing Transactions:
|
||||||||
Loans
transferred to other real estate owned
|
$ | 16,408 | $ | 4,469 | ||||
Cash
dividends declared but not yet paid
|
$ | — | $ | 868 | ||||
Net
Income (Loss)
|
Weighted-Average
Shares
Outstanding
|
Per
Share
Amount
|
||||||||||
(in
thousands, except per share data)
|
||||||||||||
For
the Three Months Ended March 31,
|
||||||||||||
2009
|
||||||||||||
Basic
EPS
|
$ | (17,734 | ) | 5,429 | $ | (3.27 | ) | |||||
Effect
of dilutive stock options
|
— | — | — | |||||||||
Diluted
EPS
|
$ | (17,734 | ) | 5,429 | $ | (3.27 | ) | |||||
2008
|
||||||||||||
Basic
EPS
|
$ | 697 | 5,426 | $ | 0.13 | |||||||
Effect
of dilutive stock options
|
— | 22 | — | |||||||||
Diluted
EPS
|
$ | 697 | 5,448 | $ | 0.13 |
Three
Months Ended March 31,
|
||||||||
2009
|
2008
|
|||||||
(in
thousands)
|
||||||||
Net
(Loss) Income
|
$ | (17,734 | ) | $ | 697 | |||
Other
comprehensive income:
|
||||||||
Change
in net unrealized (losses) gains on investment securities
available-for-sale, net of tax benefit (expense) of $1,265 and $(33) for
the three months ended March 31, 2009 and 2008,
respectively.
|
(1,898 | ) | 49 | |||||
Reclassification
for net gains included in losses, net of tax provisions of $366 for the
three months ended March 31,
2009.
|
549 | — | ||||||
Comprehensive
(Loss) Income
|
$ | (19,083 | ) | $ | 746 |
Assets
and Liabilities Measured at Fair Value on a Recurring
Basis
|
||||||||||||||||
Quoted
Prices in Active Markets for Identical Assets
(Level
1)
|
Significant
Other Observable Inputs (Level 2)
|
Significant
Unobservable Inputs (Level 3)
|
Ending
Balance
|
|||||||||||||
(dollars
in thousands)
|
||||||||||||||||
Assets
|
||||||||||||||||
March
31, 2009
|
||||||||||||||||
Investment
securities – available-for-sale
|
$ | 38 | $ | 403,380 | $ | 623 | $ | 404,041 | ||||||||
December
31, 2008
|
||||||||||||||||
Investment
securities – available-for-sale
|
$ | 59 | $ | 146,045 | $ | 695 | $ | 146,799 |
Changes
in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring
Basis
|
||||||||||||||||||||||||
Beginning
Balance
|
Total
Realized and Unrealized Gains Included in Income
|
Total
Realized and Unrealized Gains
|
Purchases,
Sales, Other Settlements and Issuances, net
|
Net
Transfers In and/or Out of Level 3
|
Ending
Balance
|
|||||||||||||||||||
Net
Revaluation of Retained Interests
|
||||||||||||||||||||||||
(dollars
in thousands)
|
||||||||||||||||||||||||
Assets
|
||||||||||||||||||||||||
March
31, 2009
|
||||||||||||||||||||||||
Investment
securities – available-for-sale
|
$ | 695 | $ | — | $ | — | $ | (72 | ) | $ | — | $ | 623 | |||||||||||
December
31, 2008
|
||||||||||||||||||||||||
Investment
securities – available-for-sale
|
$ | 1,318 | $ | — | $ | — | $ | (623 | ) | $ | — | $ | 695 |
Assets
and Liabilities Measured at Fair Value on a Non-Recurring
Basis
|
||||||||||||||||
Quoted
Prices in Active Markets for Identical Assets
(Level
1)
|
Significant
Other Observable Inputs (Level 2)
|
Significant
Unobservable Inputs (Level 3)
|
Ending
Balance
|
|||||||||||||
(dollars
in thousands)
|
||||||||||||||||
Assets
|
||||||||||||||||
March
31, 2009
|
||||||||||||||||
Impaired
loans
|
$ | — | $ | — | $ | 195,391 | $ | 195,391 | ||||||||
Other
real estate and other assets owned
|
$ | — | $ | — | $ | 49,947 | $ | 49,947 | ||||||||
December
31, 2008
|
||||||||||||||||
Impaired
loans
|
$ | — | $ | — | $ | 161,793 | $ | 161,793 | ||||||||
Other
real estate and other assets owned
|
$ | — | $ | — | $ | 38,031 | $ | 38,031 |
Lending
Operations
|
All
Other
|
Consolidated
|
||||||||||
(in
thousands)
|
||||||||||||
For
the three months ended March 31,
|
||||||||||||
2009
|
||||||||||||
Revenues
from external customers
|
$ | 62,532 | $ | (127 | ) | $ | 62,405 | |||||
Total
interest income
|
61,745 | 47 | 61,792 | |||||||||
Total
interest expense
|
41,226 | 1,637 | 42,863 | |||||||||
Net
loss
|
(15,516 | ) | (2,218 | ) | (17,734 | ) | ||||||
2008
|
||||||||||||
Revenues
from external customers
|
$ | 59,811 | $ | (459 | ) | $ | 59,352 | |||||
Total
interest income
|
59,026 | 58 | 59,084 | |||||||||
Total
interest expense
|
37,001 | 2,005 | 39,006 | |||||||||
Net
income (loss)
|
2,731 | (2,034 | ) | 697 |
For
the Three Months Ended March 31,
|
||||||||||||||||||||||||
2009
|
2008
|
|||||||||||||||||||||||
Average
Balance
|
Income/Expense
|
Yield/Rate
|
Average
Balance
|
Income/Expense
|
Yield/Rate
|
|||||||||||||||||||
(dollars
in thousands)
|
||||||||||||||||||||||||
Assets
|
||||||||||||||||||||||||
Cash
and investment securities
|
$ | 1,765,819 | $ | 20,329 | 4.67 | % | $ | 339,443 | $ | 4,249 | 5.03 | % | ||||||||||||
Loans
receivable
|
2,779,212 | 41,463 | 6.05 | % | 3,149,996 | 54,835 | 7.00 | % | ||||||||||||||||
Total
interest earning assets
|
4,545,031 | $ | 61,792 | 5.51 | % | 3,489,439 | $ | 59,084 | 6.81 | % | ||||||||||||||
Non-interest
earning assets
|
130,122 | 84,394 | ||||||||||||||||||||||
Allowance
for loan losses
|
(50,400 | ) | (47,436 | ) | ||||||||||||||||||||
Total
assets
|
$ | 4,624,753 | $ | 3,526,397 | ||||||||||||||||||||
Liabilities
and Shareholders’ Equity
|
||||||||||||||||||||||||
Interest
bearing deposit accounts:
|
||||||||||||||||||||||||
Interest
bearing demand
|
$ | 55,349 | $ | 305 | 2.23 | % | $ | 27,951 | $ | 235 | 3.38 | % | ||||||||||||
Money
market and passbook
|
491,360 | 3,349 | 2.76 | % | 248,829 | 2,459 | 3.97 | % | ||||||||||||||||
Time
certificates
|
2,580,315 | 24,785 | 3.90 | % | 1,802,247 | 22,389 | 5.00 | % | ||||||||||||||||
Total interest bearing deposit
accounts
|
3,127,024 | 28,439 | 3.69 | % | 2,079,027 | 25,083 | 4.85 | % | ||||||||||||||||
FHLB
advances and other borrowings
|
1,171,481 | 12,787 | 4.43 | % | 1,083,609 | 11,918 | 4.42 | % | ||||||||||||||||
Junior
subordinated debentures
|
86,600 | 1,637 | 7.67 | % | 86,600 | 2,005 | 9.31 | % | ||||||||||||||||
Total
interest bearing liabilities
|
4,385,105 | $ | 42,863 | 3.96 | % | 3,249,236 | $ | 39,006 | 4.83 | % | ||||||||||||||
Non-interest
bearing demand accounts
|
10,450 | 9,740 | ||||||||||||||||||||||
Other
non-interest bearing liabilities
|
40,180 | 38,263 | ||||||||||||||||||||||
Shareholders’
equity
|
189,018 | 229,158 | ||||||||||||||||||||||
Total liabilities and
shareholders’
equity
|
$ | 4,624,753 | $ | 3,526,397 | ||||||||||||||||||||
Net
interest spread (1)
|
1.55 | % | 1.98 | % | ||||||||||||||||||||
Net
interest income before provision for
loan losses
|
$ | 18,929 | $ | 20,078 | ||||||||||||||||||||
Net
interest margin (2)
|
1.69 | % | 2.31 | % | ||||||||||||||||||||
(1)
|
Average
yield on interest earning assets minus average rate paid on interest
bearing liabilities.
|
(2)
|
Net
interest income divided by total average interest earning
assets.
|
For
the Three Months Ended March
31, 2009 and 2008
|
||||||||||||
Increase
(Decrease) Due to:
|
||||||||||||
Rate
|
Volume
|
Total
|
||||||||||
(in
thousands)
|
||||||||||||
Interest
and fees earned from:
|
||||||||||||
Cash
and investment securities
|
$ | (323 | ) | $ | 16,403 | $ | 16,080 | |||||
Loans
|
(7,161 | ) | (6,211 | ) | (13,372 | ) | ||||||
Total
(decrease) increase in interest income
|
(7,484 | ) | 10,192 | 2,708 | ||||||||
Interest
paid on:
|
||||||||||||
Deposit
accounts
|
(6,986 | ) | 10,342 | 3,356 | ||||||||
FHLB
advances and other borrowings
|
24 | 845 | 869 | |||||||||
Junior
subordinated debentures
|
(368 | ) | — | (368 | ) | |||||||
Total
(decrease) increase in interest expense
|
(7,330 | ) | 11,187 | 3,857 | ||||||||
Decrease
in net interest income
|
$ | (154 | ) | $ | (995 | ) | $ | (1,149 | ) |
|
•
|
the
risk characteristics of various classifications of
loans;
|
|
•
|
general
portfolio trends relative to asset and portfolio
size;
|
|
•
|
asset
categories;
|
|
•
|
potential
credit and geographic
concentrations;
|
|
•
|
delinquency
trends within the loan portfolio;
|
|
•
|
changes
in the volume and severity of past due loans, classified loans and other
loans of concern;
|
|
•
|
historical
loss experience and risks associated with changes in economic, social and
business conditions; and
|
|
•
|
the
underwriting standards in effect when the loan was
made.
|
March
31, 2009
|
December
31, 2008
|
|||||||
(dollars
in thousands)
|
||||||||
Nonaccrual
loans:
|
||||||||
Real
estate
|
$ | 79,134 | $ | 53,034 | ||||
Construction
and land
|
108,770 | 101,357 | ||||||
Entertainment
finance
|
— | 6 | ||||||
Other
|
— | 463 | ||||||
Total
nonaccrual loans
|
187,904 | 154,860 | ||||||
Other
real estate and other assets owned, net
|
49,947 | 38,031 | ||||||
Total
non-performing assets
|
237,851 | 192,891 | ||||||
Performing
troubled debt restructurings
|
7,872 | 7,965 | ||||||
Total
non-performing assets and performing troubled debt
restructurings
|
$ | 245,723 | $ | 200,856 | ||||
Nonaccrual
loans to total loans
|
6.85 | % | 5.53 | % | ||||
Allowance
for loan losses to nonaccrual loans
|
33.49 | % | 32.66 | % | ||||
Non-performing
assets to total assets
|
5.26 | % | 4.34 | % |
For
the Three
Months
Ended
March
31, 2009
|
For
the
Year
Ended
December
31, 2008
|
For
the Three
Months
Ended
March
31, 2008
|
||||||||||
(dollars
in thousands)
|
||||||||||||
Balance
at beginning of period
|
$ | 50,574 | $ | 47,783 | $ | 47,783 | ||||||
Provision
for loan losses
|
19,175 | 77,965 | 4,250 | |||||||||
Charge-offs
|
(6,989 | ) | (75,923 | ) | (3,944 | ) | ||||||
Recoveries
|
178 | 749 | 182 | |||||||||
Net
charge-offs
|
(6,811 | ) | (75,174 | ) | (3,762 | ) | ||||||
Balance
at end of period
|
$ | 62,938 | $ | 50,574 | $ | 48,271 | ||||||
Allowance
for loan losses as a percentage of
loans, net
|
2.29 | % | 1.81 | % | 1.55 | % |
Period
|
Total
Number of Shares Purchased
|
Average
Price
Paid
per Share
|
Total
Number of Shares Purchased as Part of Publicly Announced Plans or
Programs
|
Maximum
Number of Shares that May Yet Be Purchased Under the Plans or
Programs(1)
|
||||||||||||
January
1, 2009 to January
31, 2009
|
— | $ | — | — | 110,486 | |||||||||||
February
1, 2009 to February
29, 2009
|
— | — | — | 110,486 | ||||||||||||
March
1, 2009 to March
31, 2009
|
— | — | — | 110,486 | ||||||||||||
Total
|
— | $ | — | — | 110,486 |
(1)
|
There
were no repurchases under the twelfth extension of our stock repurchase
program during the three months ended March 31, 2009. The
twelfth extension was announced on March 14, 2006, and authorized the
repurchase of an additional 5% of the outstanding shares as of the
authorization date. At March 31, 2009, a total of 110,486
shares remained available for repurchase under this
extension.
|
IMPERIAL
CAPITAL BANCORP, INC.
|
||
Date:
May 15,
2009
|
/s/ Norval L. Bruce
|
|
Norval
L. Bruce
|
||
Member
of the Executive Committee of
|
||
the
Board of Directors
|
Date:
May 15,
2009
|
/s/ Hirotaka Oribe
|
|
Hirotaka
Oribe
|
||
Member
of the Executive Committee of
|
||
the
Board of Directors
|
Date:
May 15,
2009
|
/s/ Robert R. Reed
|
|
Robert
R. Reed
|
||
Member
of the Executive Committee of
|
||
the
Board of Directors
|
Date:
May 15,
2009
|
/s/ Timothy M. Doyle
|
|
Timothy
M. Doyle
|
||
Executive
Managing Director and
|
||
Chief
Financial Officer
|
Regulation
S-K
Exhibit
Number
|
Document
|
Reference
to Prior Filing or
Exhibit
Number Attached Hereto
|
||
3.1
|
Certificate
of Incorporation
|
************
|
||
3.2
|
Bylaws,
as amended
|
***
|
||
4
|
Instruments
Defining the Rights of Security Holders, Including
Indentures
|
**********
|
||
10.1
|
2005
Re-Designated, Amended and Restated Stock Option Plan For Nonemployee
Directors (“NEDP”)
|
*****
|
||
10.2
|
2005
Re-Designated, Amended and Restated Employee Stock Incentive Plan
(“ESIP”)
|
********
|
||
10.3a
|
409A
Consolidated Nonqualified (Employer Securities Only) 2005 Deferred
Compensation Plan
|
***
|
||
10.3b
|
409A
Consolidated Nonqualified (Non-Employer Securities) 2005 Deferred
Compensation Plan
|
***
|
||
10.3c
|
Consolidated
Nonqualified (Employer Securities Only) Deferred Compensation
Plan
|
***
|
||
10.3d
|
Consolidated
Nonqualified (Non-Employer Securities) Deferred Compensation
Plan
|
***
|
||
10.4
|
Supplemental
Salary Savings Plan
|
*
|
||
10.5a
|
Amended
and Restated Employment Agreement with George W.
Haligowski
|
********
|
||
10.5b
|
Non-Competition
and Non-Solicitation Agreement with George W. Haligowski
|
********
|
||
10.5c
|
Amendment
to Amended and Restated Employment Agreement with George W.
Haligowski
|
**************
|
||
10.6
|
Change
in Control Severance Agreement with Norval L. Bruce
|
********
|
||
10.6a
|
Amendment
to Change in Control Severance Agreement with Norval L.
Bruce
|
**************
|
||
10.7
|
Change
in Control Severance Agreement with Timothy M. Doyle
|
********
|
||
10.7a
|
Amendment
to Change in Control Severance Agreement with Timothy M.
Doyle
|
**************
|
||
10.8
|
Change
in Control Severance Agreement with Lyle C. Lodwick
|
********
|
||
10.8a
|
Amendment
to Change in Control Severance Agreement with Lyle C.
Lodwick
|
**************
|
||
10.9
|
Change
in Control Severance Agreement with Phillip E. Lombardi
|
***********
|
||
10.9a
|
Amendment
to Change in Control Severance Agreement with Phillip E.
Lombardi
|
**************
|
||
10.10
|
Recognition
and Retention Plan
|
**
|
||
10.11
|
Voluntary
Retainer Stock and Deferred Compensation Plan for Outside
Directors
|
****
|
||
10.12
|
Amended
and Restated Supplemental Executive Retirement Plan
|
********
|
||
10.13
|
Amended
and Restated ITLA Capital Corporation Rabbi Trust
Agreement
|
*********
|
||
10.14
|
Amended
and Restated Salary Continuation Plan
|
********
|
||
10.15
|
Form
of Incentive Stock Option Agreement under ESIP
|
******
|
||
10.16
10.17
|
Form
of Non-Qualified Stock Option Agreement under the ESIP
Form
of Non-Qualified Stock Option Agreement under the NEDP
|
******
*******
|
||
10.18
|
Description
of Named Executive Officer Salary, Bonus and Perquisite Arrangements for
2009
|
**************
|
||
10.19
|
Description
of Director Fee Arrangements
|
**************
|
||
10.20
|
Split
Dollar Agreement
|
************
|
||
10.21
|
Stipulation
and Consent to the Issuance of an Order to Cease and
Desist
|
*************
|
||
10.22
|
Order
to Cease and Desist dated February 17, 2009 issued by the Federal Deposit
Insurance Corporation and the California Department of Financial
Institutions
|
*************
|
||
11
|
Statement
Regarding Computation of Per Share Earnings
|
Not
Required
|
||
13
|
Annual
Report to Security Holders
|
None
|
||
18
|
Letter
Regarding Change in Accounting Principles
|
None
|
||
21
|
Subsidiaries
of the Registrant
|
Not
Required
|
||
22
|
Published
Report Regarding Matters Submitted to Vote of Security
Holders
|
None
|
||
24
|
Power
of Attorney
|
None
|
||
31.1
|
Rule
13a-14(a)/15d-14(a) Certification of Co-Principal Executive
Officer
|
31.1
|
||
31.2
|
Rule
13a-14(a)/15d-14(a) Certification of Co-Principal Executive
Officer
|
31.2
|
||
31.3
|
Rule
13a-14(a)/15d-14(a) Certification of Co-Principal Executive
Officer
|
31.3
|
||
31.4
|
Rule
13a-14(a)/15d-14(a) Certification of Principal Financial
Officer
|
31.4
|
||
32
|
Section
1350 Certifications of Chief Executive Officer and Chief Financial
Officer
|
32
|
||
99 | Press release dated May 15, 2009 |
99
|
*
|
Filed
as an exhibit to Imperial’s Registration Statement on Form S-1 (File No.
33-96518) filed with the Commission on September 1, 1995, pursuant to
Section 5 of the Securities Act of 1933.
|
*
*
|
Filed
as an exhibit to the Company’s Registration Statement on Form S-4 (File
No. 333-03551) filed with the Commission on May 10, 1996, pursuant to
Section 5 of the Securities Act of 1933.
|
* *
*
|
Filed
as an exhibit to the Company’s Current Report on Form 8-K filed on
December 7, 2007.
|
* *
* *
|
Filed
as an exhibit to Amendment No. Two to the Company’s Registration Statement
on Form S-4 (File No. 333-03551) filed with the Commission on June 19,
1996.
|
* *
* * *
|
Filed
as an appendix to the Company’s definitive proxy materials filed on June
27, 2005.
|
* *
* * * *
|
Filed
as an exhibit to the Company’s Current Report on Form 8-K filed on August
9, 2005.
|
* *
* * * * *
|
Filed
as an exhibit to the Company’s Current Report on Form 8-K filed on
November 4, 2005.
|
* *
* * * * * *
|
Filed
as an exhibit to the Company’s Current Report on Form 8-K filed on
February 24, 2006.
|
* *
* * * * * * *
|
Filed
as an exhibit to the Company’s Form 10-Q for the quarter ended June 30,
2006.
|
* *
* * * * * * * *
|
The
Company hereby agrees to furnish the SEC, upon request, copies of the
instruments defining the rights of the holders of each issue of the
Company's long-term debt.
|
* *
* * * * * * * * *
|
Filed
as an exhibit to the Company’s Form 10-K for the year ended December 31,
2006.
|
* *
* * * * * * * * * *
|
Filed
as an exhibit to the Company’s Form 10-Q for the quarter ended June 30,
2007.
|
* *
* * * * * * * * * *
|
Filed
as an exhibit to the Company’s Form 10-K for the year ended December 31,
2007.
|
* *
* * * * * * * * * * *
|
Filed
as an exhibit to the Company’s Current Report on Form 8-K filed on
February 20, 2009.
|
* *
* * * * * * * * * * * *
|
Filed
as an exhibit to the Company’s Form 10-K for the year ended December 31,
2008.
|