INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Summary of Amortized Cost and Fair Value of 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
December 31, 2019
Securities available-for-sale:
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities	$	37,613	$	—	$	(1,157	)	$	36,456
U.S. government agency and U.S. government sponsored enterprise collateralized mortgage obligations	91,543		16		(260		)	91,299
Municipal securities	52,997		51		(359		)	52,689
Non-agency residential mortgage-backed securities	191		5		—			196
Collateralized loan obligations	733,605		—		(15,244		)	718,361
Corporate debt securities	13,500		79		—			13,579
Total securities available-for-sale	$	929,449	$	151	$	(17,020	)	$	912,580
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:



	Year Ended December 31,
($ in thousands)	2019			2018		2017
Gross realized gains on sales and calls of securities available-for-sale	$	556		$	5,532	$	14,768
Gross realized losses on sales and calls of securities available-for-sale	(5,408		)	—		—
Net realized (losses) gains on sales and calls of securities available-for-sale	$	(4,852	)	$	5,532	$	14,768
Proceeds from sales and calls of securities available-for-sale	$	1,249,588		$	1,025,471	$	1,500,459

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
December 31, 2019
Securities available-for-sale:
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities	$	35,872	$	(1,157	)	$	—	$	—		$	35,872	$	(1,157	)
U.S. government agency and U.S. government sponsored enterprise collateralized mortgage obligations	73,379		(260		)	—		—			73,379		(260		)
Municipal securities	31,723		(359		)	—		—			31,723		(359		)
Collateralized loan obligations	49,553		(447		)	668,808		(14,797		)	718,361		(15,244		)
Corporate debt securities	—		—			—		—			—		—
Total securities available-for-sale	$	190,527	$	(2,223	)	$	668,808	$	(14,797	)	$	859,335	$	(17,020	)
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	)

Summary of Composition and Repricing and Yield Information

The following table presents the composition and the repricing and yield information of the investment securities portfolio as of December 31, 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	$	—	—	%	$	—	—	%	$	—	—	%	$	36,456	2.56	%	$	36,456	2.56	%
U.S. government agency and U.S. government sponsored enterprise collateralized mortgage obligations	81,347		2.28	%	—		—	%	9,952		2.47	%	—		—	%	91,299		2.30	%
Municipal securities	—		—	%	—		—	%	—		—	%	52,689		2.79	%	52,689		2.79	%
Non-agency residential mortgage-backed securities	—		—	%	—		—	%	—		—	%	196		6.28	%	196		6.28	%
Collateralized loan obligations	718,361		3.61	%	—		—	%	—		—	%	—		—	%	718,361		3.61	%
Corporate debt securities	—		—	%	13,579		4.11	%	—		—	%	—		—	%	13,579		4.11	%
Total securities available-for-sale	$	799,708	3.47	%	$	13,579	4.11	%	$	9,952	2.47	%	$	89,341	2.70	%	$	912,580	3.40	%