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RESTRUCTURING | 12 Months Ended
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Dec. 31, 2020
Restructuring and Related Activities [Abstract] |
RESTRUCTURING | RESTRUCTURING We recognized no restructuring costs for the year ended December 31, 2020. 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 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 the transition of the CEO and CFO. 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. We had outstanding unpaid accrued liabilities of zero and $1.2 million at December 31, 2020 and 2019. The following table presents activities in accrued liabilities and related expenses for the restructuring as of and for the years ended December 31, 2020, 2019 and 2018:
|  | As of and for the year ended December 31,
($ in thousands) |  | 2020 |  | 2019 |  | 2018
Balance at beginning of period |  | $ | 1,204 |  |  | $ | 117 |  |  | $ | 202 |
Accrual/Expense |  | — |  |  | 4,263 |  |  | 4,431 |
Payments |  | (1,204) |  |  | (3,176) |  |  | (4,516) |
Balance at end of period |  | $ | — |  |  | $ | 1,204 |  |  | $ | 117 |

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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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