XML 26 R11.htm IDEA: XBRL DOCUMENT
v3.20.4

SALES OF BRANCH, SUBSIDIARY AND BUSINESS UNITS | 12 Months Ended
--- | ---
Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract] |
SALES OF BRANCH, SUBSIDIARY AND BUSINESS UNITS | SALES OF BRANCH, SUBSIDIARY AND BUSINESS UNITS Banc Home Loans Sale On March 30, 2017, we completed the sale of specific assets and activities related to our Banc Home Loans division to Caliber Home Loans, Inc. (Caliber). The Banc Home Loans division largely represented our Mortgage Banking segment, the activities of which related to originating, servicing, underwriting, funding and selling single family residential (SFR) mortgage loans. We received a $25.0 million cash premium payment, in addition to the net book value of certain assets acquired by Caliber, totaling $2.5 million, upon the closing of the transaction. Additionally, we were entitled to receive an earn-out, payable quarterly, based on future performance over the 38 months following completion of the transaction, with the final payment received in the second quarter of 2020. During the years ended December 31, 2020, 2019 and 2018, we recorded $0, $0 and $1.4 million to net gain on disposal of discontinued operations. Since the completion of the transaction, we have recognized a net gain on disposal of $15.2 million. The following table summarizes the calculation of the net gain on disposal of discontinued operations:
|  | Year Ended December 31, |  |
($ in thousands) |  | 2020 |  | 2019 |  | 2018 |  | Total Net Gain on Disposal After Completion of Sale
Proceeds from the transaction |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 63,054 |
Compensation expense related to the transaction |  | — |  |  | — |  |  | 1,003 |  |  | (2,497) |
Other transaction costs |  | — |  |  | — |  |  | 436 |  |  | (2,995) |
Net cash proceeds |  | — |  |  | — |  |  | 1,439 |  |  | 57,562 |
Book value of certain assets sold |  | — |  |  | — |  |  | — |  |  | (2,455) |
Book value of MSRs sold |  | — |  |  | — |  |  | — |  |  | (37,772) |
Goodwill |  | — |  |  | — |  |  | — |  |  | (2,100) |
Net gain on disposal |  | $ | — |  |  | $ | — |  |  | $ | 1,439 |  |  | $ | 15,235 |
The following tables present the financial information of discontinued operations as of the dates and for the periods indicated: Statements of Financial Condition of Discontinued Operations There were no assets or liabilities of discontinued operations as of December 31, 2020 or 2019. Statements of Operations of Discontinued Operations
|  | Year Ended December 31,
($ in thousands) |  | 2020 |  | 2019 |  | 2018
Interest income |  |  |  |  |  |
Loans, including fees |  | $ | — |  |  | $ | — |  |  | $ | 665 |
Total interest income |  | — |  |  | — |  |  | 665 |
Noninterest income |  |  |  |  |  |
Net gain on disposal |  | — |  |  | — |  |  | 1,439 |
Net revenue on mortgage banking activities |  | — |  |  | — |  |  | 428 |
All other income |  | — |  |  | — |  |  | 2,200 |
Total noninterest income |  | — |  |  | — |  |  | 4,067 |
Noninterest expense |  |  |  |  |  |
Salaries and employee benefits |  | — |  |  | — |  |  | 20 |
Data processing |  | — |  |  | — |  |  | 8 |
All other expenses |  | — |  |  | — |  |  | 108 |
Total noninterest expense |  | — |  |  | — |  |  | 136 |
Income from discontinued operations before income taxes |  | — |  |  | — |  |  | 4,596 |
Income tax expense |  | — |  |  | — |  |  | 1,271 |
Income from discontinued operations |  | $ | — |  |  | $ | — |  |  | $ | 3,325 |
Statements of Cash Flows of Discontinued Operations
|  | Year Ended December 31,
($ in thousands) |  | 2020 |  | 2019 |  | 2018
Net cash provided by operating activities |  | $ | — |  |  | $ | — |  |  | $ | 14,916 |
Net cash provided by discontinued operations |  | $ | — |  |  | $ | — |  |  | $ | 14,916 |

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
Name: | us-gaap_MergersAcquisitionsAndDispositionsDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration