INVESTMENT SECURITIES (Tables)

9 Months Ended

Sep. 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
September 30, 2019
Securities available-for-sale:
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities	$	40,374	$	—	$	—		$	40,374
Non-agency residential mortgage-backed securities	267		10		—			277
Collateralized loan obligations	748,605		—		(13,594		)	735,011
Total securities available-for-sale	$	789,246	$	10	$	(13,594	)	$	775,662
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 September 30,					Nine Months Ended September 30,
($ in thousands)	2019			2018		2019			2018
Gross realized gains on sales and calls of securities available-for-sale	$	71		$	13	$	279		$	5,532
Gross realized losses on sales and calls of securities available-for-sale	(5,134		)	—		(5,134		)	—
Net realized (losses) gains on sales and calls of securities available-for-sale	$	(5,063	)	$	13	$	(4,855	)	$	5,532
Proceeds from sales and calls of securities available-for-sale	$	43,252		$	283,114	$	861,008		$	896,070

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
September 30, 2019
Securities available-for-sale:
Collateralized loan obligations	$	435,191	$	(6,539	)	$	299,820	$	(7,055	)	$	735,011	$	(13,594	)
Total securities available-for-sale	$	435,191	$	(6,539	)	$	299,820	$	(7,055	)	$	735,011	$	(13,594	)
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 September 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:
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities	$	—	—	%	$	—	—	%	$	—	—	%	$	40,374	2.56	%	$	40,374	2.56	%
Non-agency residential mortgage-backed securities	65		2.68	%	—		—	%	—		—	%	212		5.79	%	277		5.06	%
Collateralized loan obligations	735,011		3.52	%	—		—	%	—		—	%	—		—	%	735,011		3.52	%
Total securities available-for-sale	$	735,076	3.52	%	$	—	—	%	$	—	—	%	$	40,586	2.58	%	$	775,662	3.47	%