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RESTRUCTURING | 12 Months Ended
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Dec. 31, 2019
Restructuring and Related Activities [Abstract] |
RESTRUCTURING | RESTRUCTURING During fiscal year 2019, we continued to implement our strategic objective to de-emphasize the production of low margin loan products through our exit from the third-party mortgage origination ("TPMO") and brokered single family lending business. We recognized restructuring costs of $4.3 million for the year ended December 31, 2019 associated with the exit from the TPMO and brokered single family lending business and CEO and CFO transition. On June 26, 2018, we announced a 9 percent reduction in force to our workforce. In addition to reducing total staffing, we reduced the use of third party advisors during the third and fourth quarters of 2018, with each of these actions intended to align our cost structure with our focused commercial banking platform. The plan was fully completed during the fourth quarter of 2018. We incurred severance-related costs in 2018 of $4.4 million, pre-tax, related to this reduction in force. In connection with the sale of our Banc Home Loans division in 2017, we restructured certain aspects of our infrastructure and back office operations by realigning back office staffing resulting in certain severance and other employee related costs including accelerated vesting of equity awards, and amending certain system contracts in order to improve our efficiency. These employees and systems primarily supported our mortgage banking activities. We recognized $9.1 million of total restructuring expense during the year ended December 31, 2017. We had outstanding unpaid accrued liabilities of $1.2 million and $117 thousand at December 31, 2019 and 2018. The following table presents activities in accrued liabilities and related expenses for the restructuring as of and for the years ended December 31, 2019, 2018 and 2017:
|  | Expense |  |
($ in thousands) |  | Continuing Operations |  | Discontinued Operations |  | Total |  | Accrued Liabilities
As of or For the Year Ended December 31, 2019 |  |  |  |  |  |  |  |
Balance at beginning of period |  |  |  |  |  |  |  | $ | 117 |
Accrual: |  |  |  |  |  |  |  |
Severance and other employee related costs |  | $ | 4,263 |  |  | $ | — |  |  | $ | 4,263 |  |  | 4,263 |
Other restructuring expense |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 4,263 |  |  | $ | — |  |  | $ | 4,263 |  |  | 4,263 |
Payments: |  |  |  |  |  |  |  |
Severance and other employee related costs |  |  |  |  |  |  |  | (3,176 | )
Other restructuring expense |  |  |  |  |  |  |  | — |
Total |  |  |  |  |  |  |  | $ | (3,176 | )
Balance at end of period |  |  |  |  |  |  |  | $ | 1,204 |
As of or For the Year Ended December 31, 2018 |  |  |  |  |  |  |  |
Balance at beginning of period |  |  |  |  |  |  |  | $ | 202 |
Accrual: |  |  |  |  |  |  |  |
Severance and other employee related costs |  | $ | 4,431 |  |  | $ | — |  |  | $ | 4,431 |  |  | 4,431 |
Other restructuring expense |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 4,431 |  |  | $ | — |  |  | $ | 4,431 |  |  | 4,431 |
Payments: |  |  |  |  |  |  |  |
Severance and other employee related costs |  |  |  |  |  |  |  | (4,516 | )
Other restructuring expense |  |  |  |  |  |  |  | — |
Total |  |  |  |  |  |  |  | $ | (4,516 | )
Balance at end of period |  |  |  |  |  |  |  | $ | 117 |
As of or For the Year Ended December 31, 2017 |  |  |  |  |  |  |  |
Balance at beginning of period |  |  |  |  |  |  |  | $ | — |
Accrual: |  |  |  |  |  |  |  |
Severance and other employee related costs |  | $ | 5,326 |  |  | $ | 2,899 |  |  | $ | 8,225 |  |  | 8,225 |
Other restructuring expense |  | — |  |  | 895 |  |  | 895 |  |  | 895 |
Total |  | $ | 5,326 |  |  | $ | 3,794 |  |  | $ | 9,120 |  |  | 9,120 |
Payments: |  |  |  |  |  |  |  |
Severance and other employee related costs |  |  |  |  |  |  |  | (8,023 | )
Other restructuring expense |  |  |  |  |  |  |  | (895 | )
Total |  |  |  |  |  |  |  | $ | (8,918 | )
Balance at end of period |  |  |  |  |  |  |  | $ | 202 |

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- References No definition available. + Details
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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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