PARENT COMPANY FINANCIAL STATEMENTS (Tables)

12 Months Ended

Dec. 31, 2018

Condensed Financial Information Disclosure [Abstract]

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		$	—		$	—