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PARENT COMPANY FINANCIAL STATEMENTS (Tables) | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
Condensed Statements of Financial Condition | 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 | 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 | 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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