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RESTRUCTURING | 12 Months Ended
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Dec. 31, 2018
Restructuring and Related Activities [Abstract] |
RESTRUCTURING | RESTRUCTURING On June 26, 2018, the Company announced a reduction in force to the Company’s workforce by approximately 9% of total staffing. In addition, the Company reduced the use of third party advisors during the third and fourth quarters of 2018, with each of these actions intended to align the Company’s cost structure with its focused commercial banking platform. The plan was fully completed during the fourth quarter of 2018. The Company incurred severance-related costs in 2018 aggregating $4.4 million, pre-tax, related to the reduction in force. In connection with the sale of its Banc Home Loans division in 2017, the Company restructured certain aspects of its infrastructure and back office operations by realigning back office staffing resulting in certain severance and other employee related costs including accelerated vesting of equity awards, and amending certain system contracts in order to improve the Company's efficiency. These employees and systems primarily supported the Company's mortgage banking activities. The Company recognized $9.1 million of total restructuring expense during the year ended December 31, 2017. The Company had outstanding unpaid accrued liabilities of $117 thousand and $202 thousand, respectively, at December 31, 2018 and 2017. The following table presents activities in accrued liabilities and related expenses for the restructuring as of or for the years ended December 31, 2018 and 2017, respectively:
|  | Expense |  |
($ in thousands) |  | Continuing Operations |  | Discontinued Operations |  | Total |  | Accrued Liabilities
As of or For the Year Ended December 31, 2018 |  |  |  |  |  |  |  |
Balance at beginning of period |  |  |  |  |  |  |  | $ | 202 |
Accrual: |  |  |  |  |  |  |  |
Severance and other employee related costs |  | $ | 4,431 |  |  | $ | — |  |  | $ | 4,431 |  |  | 4,431 |
Total |  | $ | 4,431 |  |  | $ | — |  |  | $ | 4,431 |  |  | 4,431 |
Payments: |  |  |  |  |  |  |  |
Severance and other employee related costs |  |  |  |  |  |  |  | (4,516 | )
Other restructuring expense |  |  |  |  |  |  |  | — |
Total |  |  |  |  |  |  |  | $ | (4,516 | )
Balance at end of period |  |  |  |  |  |  |  | $ | 117 |
As of or For the Year Ended December 31, 2017 |  |  |  |  |  |  |  |
Balance at beginning of period |  |  |  |  |  |  |  | $ | — |
Accrual: |  |  |  |  |  |  |  |
Severance and other employee related costs |  | $ | 5,326 |  |  | $ | 2,899 |  |  | $ | 8,225 |  |  | 8,225 |
Other restructuring expense |  | — |  |  | 895 |  |  | 895 |  |  | 895 |
Total |  | $ | 5,326 |  |  | $ | 3,794 |  |  | $ | 9,120 |  |  | 9,120 |
Payments: |  |  |  |  |  |  |  |
Severance and other employee related costs |  |  |  |  |  |  |  | (8,023 | )
Other restructuring expense |  |  |  |  |  |  |  | (895 | )
Total |  |  |  |  |  |  |  | $ | (8,918 | )
Balance at end of period |  |  |  |  |  |  |  | $ | 202 |

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- References No definition available. + Details
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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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