EMPLOYEE STOCK COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table presents stock-based compensation expense and the related tax benefits for the periods indicated:



	Year Ended December 31,
($ in thousands)	2017		2016		2015
Stock options	$	360	$	531	$	528
Restricted stock awards and units	11,732		11,398		8,598
Stock appreciation rights	42		18		202
Total stock-based compensation expense	$	12,134	$	11,947	$	9,328
Related tax benefits	$	5,078	$	4,963	$	3,922

Unrecognized Share-Based Compensation Expense

The following table presents unrecognized stock-based compensation expense as of December 31, 2017:



($ in thousands)	Unrecognized Expense		Weighted-Average Remaining Expected Recognition Period
Stock option awards	$	267	2.3 years
Restricted stock awards and restricted stock units	9,762		2.5 years
Total	$	10,029	2.5 years

Schedule of Stock Options

The weighted-average estimated fair value per share options granted was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions.



	Year Ended December 31,
($ in thousands, except per share data)	2017		2016		2015
Granted date fair value of options granted	$	—	$	1,630	$	729
Fair value of options vested	$	611	$	497	$	481
Total intrinsic value of options exercised	$	3,747	$	722	$	75
Cash received from options exercised	$	2,043	$	—	$	501
Weighted-average estimated fair value per share of options granted	$	—	$	5.09	$	3.76

Weighted Average Fair Value Assumptions

The following table presents a summary of weighted-average assumptions used for calculating fair value options for the periods indicated:



	Year Ended December 31,
	2017		2016		2015
Dividend yield	—	%	3.57	%	4.14	%
Expected volatility	—	%	43.30	%	43.04	%
Expected term	0.0 years		6.5 years		6.4 years
Risk-free interest rate	—	%	1.61	%	1.68	%

The weighted-average estimated fair value per share of SARs granted was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions.



	Year Ended December 31,
	2017			2016			2015
Dividend yield	—		%	—		%	—		%
Expected volatility	—		%	—		%	23.79		%
Expected term	0.0 years			0.0 years			2.0 years
Risk-free interest rate	—		%	—		%	0.64		%
Weighted-average estimated fair value per share of SARs granted	$	—		$	—		$	1.72

Option Activity

The following table represents stock option activity and weighted-average exercise price per share for the periods indicated:



	Year Ended December 31,
	2017				2016				2015
	Number of Shares		Weighted-Average Exercise Price per Share		Number of Shares		Weighted-Average Exercise Price per Share		Number of Shares		Weighted-Average Exercise Price per Share
Outstanding at beginning of year	968,591		$	13.95	960,879		$	12.86	879,070		$	12.67
Granted	—		$	—	320,000		$	16.78	193,696		$	13.28
Cash settled	—		$	—	55,826		$	14.33	—		$	—
Exercised	(488,281	)	$	12.53	(51,666	)	$	11.48	(43,333	)	$	11.55
Forfeited	(269,337	)	$	16.49	(202,743	)	$	13.84	(68,554	)	$	12.38
Expired	—		$	—	(2,053	)	$	13.88	—		$	—
Outstanding at end of year	210,973		$	13.99	968,591		$	13.95	960,879		$	12.86
Exercisable at end of year	105,541		$	14.68	449,655		$	12.68	394,613		$	12.70

Nonvested Share

The following table represents changes in unvested stock options and related information as of and for the periods indicated:



	Year Ended December 31,
	2017				2016				2015
	Number of Shares		Weighted-Average Exercise Price per Share		Number of Shares		Weighted-Average Exercise Price per Share		Number of Shares		Weighted-Average Exercise Price per Share
Outstanding at beginning of year	518,936		$	15.04	566,266		$	12.99	552,672		$	12.74
Granted	—		$	—	320,000		$	16.77	193,696		$	13.28
Vested	(174,833	)	$	14.10	(170,837	)	$	12.81	(170,102	)	$	12.57
Forfeited	(238,671	)	$	16.50	(196,493	)	$	13.86	(10,000	)	$	12.03
Outstanding at end of year	105,432		$	13.31	518,936		$	15.04	566,266		$	12.99

Summary of Stock Options Outstanding

The following table presents a summary of stock options outstanding as of December 31, 2017:



	Options Outstanding						Options Exercisable
	Number of Shares	Intrinsic Value		Weighted-Average Exercise Price per Share		Weighted-Average Remaining Contractual Life	Number of Shares	Intrinsic Value		Weighted-Average Exercise Price per Share		Weighted-Average Remaining Contractual Life
$10.89 to $12.21	7,344	$	71,604	$	10.90	6.5 years	4,400	$	42,900	$	10.90	6.5 years
$12.21 to $13.53	116,000	853,760		$	13.29	7.4 years	32,000	235,520		$	13.29	7.4 years
$13.53 to $14.85	47,464	325,502		$	13.79	6.6 years	28,976	198,334		$	13.81	6.3 years
$14.85 to $16.17	16,165	78,239		$	15.81	3.5 years	16,165	78,239		$	15.81	3.5 years
$16.17 to $17.50	24,000	75,600		$	17.50	8.2 years	24,000	75,600		$	17.50	8.2 years
Total	210,973	$	1,404,705	$	13.99	7.0 years	105,541	$	630,593	$	14.68	6.6 years

Restricted Stock and Restricted Stock Units Activity

The following table presents unvested restricted stock awards and restricted stock units activity as of and for the periods indicated:



	Year Ended December 31,
	2017				2016				2015
	Number of Shares		Weighted-Average Price per Share		Number of Shares		Weighted-Average Price per Share		Number of Shares		Weighted-Average Price per Share
Outstanding at beginning of year	1,417,144		$	16.16	1,516,361		$	12.40	1,287,302		$	12.53
Granted ^{(1) (2)}	859,722		$	20.81	1,711,968		$	17.99	930,830		$	12.31
Vested ^{(1) (3)}	(854,031	)	$	15.95	(758,999	)	$	13.12	(451,196	)	$	12.64
Forfeited ^{(1) (4)}	(511,202	)	$	17.80	(1,052,186	)	$	13.92	(250,575	)	$	12.29
Outstanding at end of year	911,633		$	18.73	1,417,144		$	16.16	1,516,361		$	12.40

(1)

The vesting of these awards is subject to certain performance targets and goals being met. These performance targets include conditions relating to the Company’s profitability and regulatory standing. The actual amounts of stock released upon vesting will be determined by the Compensation Committee of the Company's Board of Directors upon the Committee's certification of the satisfaction of the target level of performance.


(2)	The number of granted shares/units includes aggregate performance-based shares of 152,709, 602,671 and 62,552, respectively, for the years ended December 31, 2017, 2016 and 2015.


(3)	The number of vested shares includes aggregate performance-based shares/units of 10,000, 0 and 0, respectively, for the years ended December 31, 2017, 2016 and 2015


(4)	The number of forfeited shares includes aggregate performance-based shares/units of 107,545, 615,223 and 0, respectively, for the years ended December 31, 2017, 2016 and 2015.

Summary of all Outstanding SARs

The following table represents SARs activity and the weighted-average exercise price per share for the periods indicated:



	Year Ended December 31,
	2017				2016				2015
	Number of Shares		Weighted-Average Exercise Price per Share		Number of Shares		Weighted-Average Exercise Price per Share		Number of Shares		Weighted-Average Exercise Price per Share
Outstanding at beginning of year	1,559,047		$	11.60	1,561,681		$	11.60	1,575,394		$	11.58
Granted	—		$	—	—		$	—	2,973		$	12.27
Exercised	—		$	—	—		$	—	—		$	—
Forfeited	(35	)	$	10.09	(2,634	)	$	10.09	(16,686	)	$	10.09
Outstanding at end of year	1,559,012		$	11.60	1,559,047		$	11.60	1,561,681		$	11.60
Exercisable at end of year	1,559,012		$	11.60	1,550,978		$	11.61	1,535,718		$	11.63

The following table represents changes in unvested SARs and related information as of and for the periods indicated:



	Year Ended December 31,
	2017				2016				2015
	Number of Shares		Weighted-Average Exercise Price per Share		Number of Shares		Weighted-Average Exercise Price per Share		Number of Shares		Weighted-Average Exercise Price per Share
Outstanding at beginning of year	8,069		$	10.09	25,963		$	10.09	147,589		$	10.09
Granted	—		$	—	—		$	—	2,973		$	12.27
Vested	(8,034	)	$	10.09	(15,260	)	$	10.09	(107,913	)	$	10.15
Forfeited	(35	)	$	10.09	(2,634	)	$	10.09	(16,686	)	$	10.09
Outstanding at end of year	—		$	—	8,069		$	10.09	25,963		$	10.09