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PARENT COMPANY FINANCIAL STATEMENTS (Tables)
 12 Months Ended
Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]  
Condensed Statements of Financial Condition
Condensed Statements of Financial Condition
December 31,
($ in thousands)20202019
ASSETS
Cash and cash equivalents$138,006 $73,971 
Other assets28,447 42,243 
Investment in subsidiaries996,577 994,600 
Total assets$1,163,030 $1,110,814 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Notes payable, net$256,315 $173,421 
Accrued expenses and other liabilities9,508 30,148 
Stockholders’ equity897,207 907,245 
Total liabilities and stockholders’ equity$1,163,030 $1,110,814 
Condensed Statements of Operations
Condensed Statements of Operations
Year Ended December 31,
($ in thousands)202020192018
Income
Dividends from subsidiaries$37,000 $142,467 $94,250 
Legal settlement income2,013 — — 
Other operating income211 62 76 
Total income39,224 142,529 94,326 
Expenses
Interest expense for notes payable and other borrowings10,141 9,480 9,421 
Other operating expense5,794 3,311 19,507 
Total expenses15,935 12,791 28,928 
Income before income taxes and excess dividends in undistributed earnings of subsidiaries23,289 129,738 65,398 
Income tax benefit(5,812)(3,670)(9,017)
Income before excess dividends in undistributed earnings of subsidiaries29,101 133,408 74,415 
Excess dividends in undistributed earnings of subsidiaries(16,527)(109,649)(28,943)
Net income$12,574 $23,759 $45,472 
Condensed Statements of Cash Flows
Condensed Statements of Cash Flows
Year Ended December 31,
($ in thousands)202020192018
Cash flows from operating activities:
Net income$12,574 $23,759 $45,472 
Adjustments to reconcile net income to net cash provided by operating activities:
Excess dividends in undistributed earnings of subsidiaries16,527 109,649 28,943 
Stock-based compensation expense3,269 1,446 2,814 
Amortization of debt issuance cost324 247 233 
Deferred income tax benefit(417)(86)(30,188)
Net change in other assets and liabilities
(7,377)(2,095)35,591 
Net cash provided by operating activities24,900 132,920 82,865 
Cash flows from investing activities:
Purchase of investments— (5,000)— 
Net cash used in investing activities— (5,000)— 
Cash flows from financing activities:
Net proceeds from issuance of long-term debt82,570 — — 
Redemption of preferred stock(4,379)(46,396)(40,250)
Purchase of treasury stock(12,041)— — 
Restricted stock surrendered due to employee tax liability(923)(1,023)(2,366)
Dividend equivalents paid on stock appreciation rights(376)(483)(810)
Dividends paid on common stock(11,847)(15,744)(32,725)
Dividends paid on preferred stock(13,869)(15,559)(21,954)
Net cash provided by (used in) financing activities39,135 (79,205)(98,105)
Net change in cash and cash equivalents64,035 48,715 (15,240)
Cash and cash equivalents at beginning of year73,971 25,256 40,496 
Cash and cash equivalents at end of year$138,006 $73,971 $25,256 
Supplemental disclosure of noncash activities:
Reclassification of stranded tax effects to retained earnings$— $— $496