XML 58 R43.htm IDEA: XBRL DOCUMENT
v3.20.4

INVESTMENT SECURITIES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
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, 2020 |  |  |  |  |  |  |  |  |  |
Securities available-for-sale: |  |  |  |  |  |  |  |  |  |
SBA loan pool securities |  | $ | 17,436 |  |  | $ | — |  |  | $ | (82) |  |  | $ | 17,354 |  |  |
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities |  | 99,591 |  |  | 6,793 |  |  | — |  |  | 106,384 |  |  |
U.S. government agency and U.S. government sponsored enterprise collateralized mortgage obligations |  | 209,426 |  |  | 2,571 |  |  | (166) |  |  | 211,831 |  |  |
Municipal securities |  | 64,355 |  |  | 4,272 |  |  | (4) |  |  | 68,623 |  |  |
Non-agency residential mortgage-backed securities |  | 156 |  |  | 4 |  |  | — |  |  | 160 |  |  |
Collateralized loan obligations |  | 687,505 |  |  | — |  |  | (9,720) |  |  | 677,785 |  |  |
Corporate debt securities |  | 141,975 |  |  | 7,319 |  |  | — |  |  | 149,294 |  |  |
Total securities available-for-sale |  | $ | 1,220,444 |  |  | $ | 20,959 |  |  | $ | (9,972) |  |  | $ | 1,231,431 |  |  |
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 |  |  |
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) |  | 2020 |  | 2019 |  | 2018
Gross realized gains on sales and calls of securities available-for-sale |  | $ | 2,011 |  |  | $ | 556 |  |  | $ | 5,532 |
Gross realized losses on sales and calls of securities available-for-sale |  | — |  |  | (5,408) |  |  | — |
Net realized gains (losses) on sales and calls of securities available-for-sale |  | $ | 2,011 |  |  | $ | (4,852) |  |  | $ | 5,532 |
Proceeds from sales and calls of securities available-for-sale |  | $ | 68,829 |  |  | $ | 1,249,588 |  |  | $ | 1,025,471 |
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, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Securities available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
SBA loan pool securities |  | $ | 17,354 |  |  | $ | (82) |  |  | $ | — |  |  | $ | — |  |  | $ | 17,354 |  |  | $ | (82) |
U.S. government agency and U.S. government sponsored enterprise collateralized mortgage obligations |  | 19,033 |  |  | (166) |  |  | — |  |  | — |  |  | 19,033 |  |  | (166) |
Municipal securities |  | 11,401 |  |  | (4) |  |  | — |  |  | — |  |  | 11,401 |  |  | (4) |
Collateralized loan obligations |  | 64,775 |  |  | (225) |  |  | 613,010 |  |  | (9,495) |  |  | 677,785 |  |  | (9,720) |
Corporate debt securities |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total securities available-for-sale |  | $ | 112,563 |  |  | $ | (477) |  |  | $ | 613,010 |  |  | $ | (9,495) |  |  | $ | 725,573 |  |  | $ | (9,972) |
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) |
Total securities available-for-sale |  | $ | 190,527 |  |  | $ | (2,223) |  |  | $ | 668,808 |  |  | $ | (14,797) |  |  | $ | 859,335 |  |  | $ | (17,020) |
Summary of Composition and Repricing and Yield Information | The following table presents the fair value and yield information of the investment securities portfolio, based on the earlier of maturity dates or next repricing date, as of December 31, 2020:
|  | 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: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
SBA loan pool securities |  | $ | 17,354 |  |  | 1.71 | % |  | $ | — |  |  | — | % |  | $ | — |  |  | — | % |  | $ | — |  |  | — | % |  | $ | 17,354 |  |  | 1.71 | %
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities |  | — |  |  | — | % |  | — |  |  | — | % |  | 30,243 |  |  | 2.20 | % |  | 76,141 |  |  | 2.35 | % |  | 106,384 |  |  | 2.31 | %
U.S. government agency and U.S. government sponsored enterprise collateralized mortgage obligations |  | 113,227 |  |  | 0.71 | % |  | 11,438 |  |  | 2.01 | % |  | 44,451 |  |  | 1.36 | % |  | 42,715 |  |  | 0.31 | % |  | 211,831 |  |  | 0.83 | %
Municipal securities |  | — |  |  | — | % |  | — |  |  | — | % |  | 9,456 |  |  | 2.60 | % |  | 59,167 |  |  | 2.62 | % |  | 68,623 |  |  | 2.62 | %
Non-agency residential mortgage-backed securities |  | — |  |  | — | % |  | — |  |  | — | % |  | — |  |  | — | % |  | 160 |  |  | 6.35 | % |  | 160 |  |  | 6.35 | %
Collateralized loan obligations |  | 677,785 |  |  | 1.86 | % |  | — |  |  | — | % |  | — |  |  | — | % |  | — |  |  | — | % |  | 677,785 |  |  | 1.86 | %
Corporate debt securities |  | — |  |  | — | % |  | 131,829 |  |  | 5.01 | % |  | 17,465 |  |  | 5.73 | % |  | — |  |  | — | % |  | 149,294 |  |  | 5.08 | %
Total securities available-for-sale |  | $ | 808,366 |  |  | 1.70 | % |  | $ | 143,267 |  |  | 4.77 | % |  | $ | 101,615 |  |  | 2.40 | % |  | $ | 178,183 |  |  | 1.93 | % |  | $ | 1,231,431 |  |  | 2.14 | %

X
- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References No definition available. + Details
Name: | us-gaap_MarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the proceeds from sales of available-for-sale securities and the gross realized gains and gross realized losses that have been included in earnings as a result of those sales. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27357-111563 + Details
Name: | us-gaap_ScheduleOfRealizedGainLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27290-111563 + Details
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration