INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Cost and Fair Value of Available-for-Sale Investment Securities

The following table presents the amortized cost and fair value of the investment securities portfolio as of the dates indicated:



($ in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
June 30, 2019
Securities available-for-sale:
SBA loan pool securities	$	831	$	22	$	—		$	853
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities	436,049		196		(6,898		)	429,347
Non-agency residential mortgage-backed securities	275		10		—			285
Collateralized loan obligations	748,502		—		(11,300		)	737,202
Total securities available-for-sale	$	1,185,657	$	228	$	(18,198	)	$	1,167,687
December 31, 2018
Securities available-for-sale:
SBA loan pool securities	$	911	$	—	$	(1	)	$	910
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities	461,987		—		(24,545		)	437,442
Non-agency residential mortgage-backed securities	418		9		—			427
Non-agency commercial mortgage-backed securities	132,199		—		—			132,199
Collateralized loan obligations	1,431,171		141		(9,790		)	1,421,522
Total securities available-for-sale	$	2,026,686	$	150	$	(34,336	)	$	1,992,500

Proceeds from Sales and Calls of Securities and Associated Gross Gains and Losses

The following table presents proceeds from sales and calls of securities available-for-sale and the associated gross gains and losses realized through earnings upon the sales and calls of securities available-for-sale for the periods indicated:



	Three Months Ended June 30,				Six Months Ended June 30,
($ in thousands)	2019		2018		2019		2018
Gross realized gains on sales and calls of securities available-for-sale	$	—	$	278	$	208	$	5,519
Gross realized losses on sales and calls of securities available-for-sale	—		—		—		—
Net realized gains on sales and calls of securities available-for-sale	$	—	$	278	$	208	$	5,519
Proceeds from sales and calls of securities available-for-sale	$	298,156	$	325,439	$	820,048	$	612,956

Summary of Investment Securities with Unrealized Losses

The following table summarizes the investment securities with unrealized losses by security type and length of time in a continuous unrealized loss position as of the dates indicated:



	Less Than 12 Months					12 Months or Longer					Total
($ in thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
June 30, 2019
Securities available-for-sale:
SBA loan pool securities	$	—	$	—		$	—	$	—		$	—	$	—
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities	—		—			370,676		(6,898		)	370,676		(6,898		)
Non-agency residential mortgage-backed securities	—		—			—		—			—		—
Collateralized loan obligations	497,963		(6,664		)	239,239		(4,636		)	737,202		(11,300		)
Total securities available-for-sale	$	497,963	$	(6,664	)	$	609,915	$	(11,534	)	$	1,107,878	$	(18,198	)
December 31, 2018
Securities available-for-sale:
SBA loan pool securities	$	—	$	—		$	910	$	(1	)	$	910	$	(1	)
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities	13,494		(133		)	423,916		(24,412		)	437,410		(24,545		)
Non-agency residential mortgage-backed securities	90		—			16		—			106		—
Collateralized loan obligations	1,364,317		(9,480		)	32,790		(310		)	1,397,107		(9,790		)
Total securities available-for-sale	$	1,377,901	$	(9,613	)	$	457,632	$	(24,723	)	$	1,835,533	$	(34,336	)

Composition, Repricing and Yield Information of Investment Securities Portfolio

The following table presents the composition and the repricing and yield information of the investment securities portfolio as of June 30, 2019:



	One year or less				More than One Year through Five Years				More than Five Years through Ten Years				More than Ten Years				Total
($ in thousands)	Fair Value		Weighted-Average Yield		Fair Value		Weighted-Average Yield		Fair Value		Weighted-Average Yield		Fair Value		Weighted-Average Yield		Fair Value		Weighted-Average Yield
Securities available-for-sale:
SBA loan pool securities	$	—	—	%	$	—	—	%	$	—	—	%	$	853	2.08	%	$	853	2.08	%
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities	243		2.36	%	3,069		2.67	%	—		—	%	426,035		2.74	%	429,347		2.74	%
Non-agency residential mortgage-backed securities	66		3.23	%	—		—	%	—		—	%	219		5.74	%	285		5.16	%
Collateralized loan obligations	737,202		3.71	%	—		—	%	—		—	%	—		—	%	737,202		3.71	%
Total securities available-for-sale	$	737,511	3.71	%	$	3,069	2.67	%	$	—	—	%	$	427,107	2.74	%	$	1,167,687	3.35	%