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PARENT COMPANY FINANCIAL STATEMENTS | 12 Months Ended
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Dec. 31, 2019
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, 2019 and 2018, and the related condensed statements of operations and condensed statements of cash flows for the years ended December 31, 2019, 2018, and 2017 are presented below: Condensed Statements of Financial Condition
|  | December 31,
($ in thousands) |  | 2019 |  | 2018
ASSETS |  |  |  |
Cash and cash equivalents |  | $ | 73,971 |  |  | $ | 25,256 |
Other assets |  | 42,243 |  |  | 13,746 |
Investment in subsidiaries |  | 994,600 |  |  | 1,088,658 |
Total assets |  | $ | 1,110,814 |  |  | $ | 1,127,660 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |
Notes payable, net |  | $ | 173,421 |  |  | $ | 173,174 |
Accrued expenses and other liabilities |  | 30,148 |  |  | 8,952 |
Stockholders’ equity |  | 907,245 |  |  | 945,534 |
Total liabilities and stockholders’ equity |  | $ | 1,110,814 |  |  | $ | 1,127,660 |
Condensed Statements of Operations
|  | Year Ended December 31,
($ in thousands) |  | 2019 |  | 2018 |  | 2017
Income |  |  |  |  |  |
Dividends from subsidiaries |  | $ | 142,467 |  |  | $ | 94,250 |  |  | $ | 18,000 |
Other operating income |  | 62 |  |  | 76 |  |  | 2,285 |
Total income |  | 142,529 |  |  | 94,326 |  |  | 20,285 |
Expenses |  |  |  |  |  |
Interest expense for notes payable and other borrowings |  | 9,480 |  |  | 9,421 |  |  | 10,764 |
Provision for loan losses |  | — |  |  | — |  |  | 13 |
Loss on investments in alternative energy partnerships, net |  | — |  |  | — |  |  | 8,493 |
Other operating expense |  | 3,311 |  |  | 19,507 |  |  | 37,201 |
Total expenses |  | 12,791 |  |  | 28,928 |  |  | 56,471 |
Income (loss) before income taxes and (excess dividends) retained equity in undistributed earnings of subsidiaries |  | 129,738 |  |  | 65,398 |  |  | (36,186 | )
Income tax benefit |  | (3,670 | ) |  | (9,017 | ) |  | (31,453 | )
Income (loss) before (excess dividends) retained equity in undistributed earnings of subsidiaries |  | 133,408 |  |  | 74,415 |  |  | (4,733 | )
(Excess dividends) retained equity in undistributed earnings of subsidiaries |  | (109,649 | ) |  | (28,943 | ) |  | 62,442 |
Net income |  | $ | 23,759 |  |  | $ | 45,472 |  |  | $ | 57,709 |
Condensed Statements of Cash Flows
|  | Year Ended December 31,
($ in thousands) |  | 2019 |  | 2018 |  | 2017
Cash flows from operating activities: |  |  |  |  |  |
Net income |  | $ | 23,759 |  |  | $ | 45,472 |  |  | $ | 57,709 |
Adjustments to reconcile net income to net cash provided by operating activities |  |  |  |  |  |
(Excess dividends) retained equity in undistributed earnings of subsidiaries |  | 109,649 |  |  | 28,943 |  |  | (62,442 | )
Stock-based compensation expense |  | 1,446 |  |  | 2,814 |  |  | 2,520 |
Amortization of debt issuance cost |  | 247 |  |  | 233 |  |  | 247 |
Deferred income tax (benefit) expense |  | (86 | ) |  | (30,188 | ) |  | 14,604 |
Loss on investments in alternative energy partnerships, net |  | — |  |  | — |  |  | 8,493 |
Net change in other assets and liabilities |  | (2,095 | ) |  | 35,591 |  |  | (12,957 | )
Net cash provided by operating activities |  | 132,920 |  |  | 82,865 |  |  | 8,174 |
Cash flows from investing activities: |  |  |  |  |  |
Purchase of investments |  | (5,000 | ) |  | — |  |  | — |
Investments in alternative energy partnerships |  | — |  |  | — |  |  | (3,712 | )
Net cash used in investing activities |  | (5,000 | ) |  | — |  |  | (3,712 | )
Cash flows from financing activities: |  |  |  |  |  |
Net (decrease) increase in other borrowings |  | — |  |  | — |  |  | (68,000 | )
Redemption of preferred stock |  | (46,396 | ) |  | (40,250 | ) |  | — |
Payment of junior subordinated amortizing notes |  | — |  |  | — |  |  | (2,684 | )
Proceeds from exercise of stock options |  | — |  |  | — |  |  | 2,043 |
Restricted stock surrendered due to employee tax liability |  | (1,023 | ) |  | (2,366 | ) |  | (6,824 | )
Dividend equivalents paid on stock appreciation rights |  | (483 | ) |  | (810 | ) |  | (810 | )
Dividends paid on common stock |  | (15,744 | ) |  | (32,725 | ) |  | (25,707 | )
Dividends paid on preferred stock |  | (15,559 | ) |  | (21,954 | ) |  | (20,451 | )
Net cash used in financing activities |  | (79,205 | ) |  | (98,105 | ) |  | (122,433 | )
Net change in cash and cash equivalents |  | 48,715 |  |  | (15,240 | ) |  | (117,971 | )
Cash and cash equivalents at beginning of year |  | 25,256 |  |  | 40,496 |  |  | 158,467 |
Cash and cash equivalents at end of year |  | $ | 73,971 |  |  | $ | 25,256 |  |  | $ | 40,496 |
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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -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 + Details
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