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PARENT COMPANY FINANCIAL STATEMENTS | 12 Months Ended
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Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract] |
PARENT COMPANY FINANCIAL STATEMENTS | PARENT COMPANY FINANCIAL STATEMENTS The parent company only condensed statements of financial condition as of December 31, 2018 and 2017, and the related condensed statements of operations and condensed statements of cash flows for the years ended December 31, 2018, 2017, and 2016 are presented below: Condensed Statements of Financial Condition
|  | December 31,
($ in thousands) |  | 2018 |  | 2017
ASSETS |  |  |  |
Cash and cash equivalents |  | $ | 25,256 |  |  | $ | 40,496 |
Other assets |  | 13,746 |  |  | 13,366 |
Investment in subsidiaries |  | 1,088,658 |  |  | 1,146,788 |
Total assets |  | $ | 1,127,660 |  |  | $ | 1,200,650 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |
Notes payable, net |  | 173,174 |  |  | 172,941 |
Accrued expenses and other liabilities |  | 8,952 |  |  | 15,401 |
Stockholders’ equity |  | 945,534 |  |  | 1,012,308 |
Total liabilities and stockholders’ equity |  | $ | 1,127,660 |  |  | $ | 1,200,650 |
Condensed Statements of Operations
|  | Year Ended December 31,
($ in thousands) |  | 2018 |  | 2017 |  | 2016
Income |  |  |  |  |  |
Dividends from subsidiaries |  | $ | 94,250 |  |  | $ | 18,000 |  |  | $ | 57,505 |
Interest income on loans |  | — |  |  | — |  |  | 5 |
Gain on sale of subsidiary |  | — |  |  | — |  |  | 3,694 |
Other operating income |  | 76 |  |  | 2,285 |  |  | 3,973 |
Total income |  | 94,326 |  |  | 20,285 |  |  | 65,177 |
Expenses |  |  |  |  |  |
Interest expense for notes payable and other borrowings |  | 9,421 |  |  | 10,764 |  |  | 12,703 |
Provision for loan and lease losses |  | — |  |  | 13 |  |  | — |
Loss on investments in alternative energy partnerships, net |  | — |  |  | 8,493 |  |  | 31,510 |
Other operating expense |  | 19,507 |  |  | 37,201 |  |  | 23,730 |
Total expenses |  | 28,928 |  |  | 56,471 |  |  | 67,943 |
Income (loss) before income taxes and equity in undistributed (loss) earnings of subsidiaries |  | 65,398 |  |  | (36,186 | ) |  | (2,766 | )
Income tax benefit |  | (9,017 | ) |  | (31,453 | ) |  | (52,989 | )
Income (loss) before equity in undistributed earnings of subsidiaries |  | 74,415 |  |  | (4,733 | ) |  | 50,223 |
Equity in undistributed (losses) earnings of subsidiaries |  | (28,943 | ) |  | 62,442 |  |  | 65,193 |
Net income |  | $ | 45,472 |  |  | $ | 57,709 |  |  | $ | 115,416 |
Condensed Statements of Cash Flows
|  | Year Ended December 31,
($ in thousands) |  | 2018 |  | 2017 |  | 2016
Cash flows from operating activities: |  |  |  |  |  |
Net income |  | $ | 45,472 |  |  | $ | 57,709 |  |  | $ | 115,416 |
Adjustments to reconcile net income to net cash provided by operating activities |  |  |  |  |  |
Equity in undistributed losses (earnings) of subsidiaries |  | 28,943 |  |  | (62,442 | ) |  | (65,193 | )
Stock-based compensation expense |  | 2,814 |  |  | 2,520 |  |  | 5,080 |
Amortization of debt issuance cost |  | 233 |  |  | 247 |  |  | 704 |
Debt redemption costs |  | — |  |  | — |  |  | 2,737 |
Gain on sale of subsidiary |  | — |  |  | — |  |  | (3,694 | )
Deferred income tax (benefit) expense |  | (30,188 | ) |  | 14,604 |  |  | 4,538 |
Loss on investments in alternative energy partnerships, net |  | — |  |  | 8,493 |  |  | 31,510 |
Net change in other assets and liabilities |  | 35,591 |  |  | (12,957 | ) |  | (14,972 | )
Net cash provided by operating activities |  | 82,865 |  |  | 8,174 |  |  | 76,126 |
Cash flows from investing activities: |  |  |  |  |  |
Loan purchases from bank and principal collections, net |  | — |  |  | — |  |  | 221 |
Proceeds from sale of subsidiary |  | — |  |  | — |  |  | 259 |
Capital contribution to bank subsidiary |  | — |  |  | — |  |  | (195,000 | )
Capital contribution to non-bank subsidiary |  | — |  |  | — |  |  | (25 | )
Investments in alternative energy partnerships |  | — |  |  | (3,712 | ) |  | (57,149 | )
Net cash used in investing activities |  | — |  |  | (3,712 | ) |  | (251,694 | )
Cash flows from financing activities: |  |  |  |  |  |
Net (decrease) increase in other borrowings |  | — |  |  | (68,000 | ) |  | 68,000 |
Net proceeds from issuance of common stock |  | — |  |  | — |  |  | 175,078 |
Net proceeds from issuance of preferred stock |  | — |  |  | — |  |  | 120,255 |
Redemption of preferred stock |  | (40,250 | ) |  | — |  |  | (42,000 | )
Redemption of senior notes |  | — |  |  | — |  |  | (84,750 | )
Payment of junior subordinated amortizing notes |  | — |  |  | (2,684 | ) |  | (5,078 | )
Cash settlements of stock options |  | — |  |  | — |  |  | (359 | )
Proceeds from exercise of stock options |  | — |  |  | 2,043 |  |  | — |
Restricted stock surrendered due to employee tax liability |  | (2,366 | ) |  | (6,824 | ) |  | (4,436 | )
Dividend equivalents paid on stock appreciation rights |  | (810 | ) |  | (810 | ) |  | (742 | )
Dividends paid on common stock |  | (32,725 | ) |  | (25,707 | ) |  | (21,844 | )
Dividends paid on preferred stock |  | (21,954 | ) |  | (20,451 | ) |  | (19,630 | )
Net cash (used in) provided by financing activities |  | (98,105 | ) |  | (122,433 | ) |  | 184,494 |
Net change in cash and cash equivalents |  | (15,240 | ) |  | (117,971 | ) |  | 8,926 |
Cash and cash equivalents at beginning of year |  | 40,496 |  |  | 158,467 |  |  | 149,541 |
Cash and cash equivalents at end of year |  | $ | 25,256 |  |  | $ | 40,496 |  |  | $ | 158,467 |
Supplemental disclosure of noncash activities: |  |  |  |  |  |
Reclassification of stranded tax effects to retained earnings |  | $ | 496 |  |  | $ | — |  |  | $ | — |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 + Details
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