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PARENT COMPANY FINANCIAL STATEMENTS (Tables) | 12 Months Ended
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Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract] |
Condensed Statements of Financial Condition | Condensed Statements of Financial Condition
|  | December 31,
($ in thousands) |  | 2021 |  | 2020
ASSETS |  |  |  |
Cash and cash equivalents |  | $ | 98,851 |  |  | $ | 138,006 |
Other assets |  | 29,688 |  |  | 28,447 |
Investment in subsidiaries |  | 1,220,368 |  |  | 996,577 |
Total assets |  | $ | 1,348,907 |  |  | $ | 1,163,030 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |
Long-term debt, net |  | $ | 274,386 |  |  | $ | 256,315 |
Accrued expenses and other liabilities |  | 9,231 |  |  | 9,508 |
Stockholders’ equity |  | 1,065,290 |  |  | 897,207 |
Total liabilities and stockholders’ equity |  | $ | 1,348,907 |  |  | $ | 1,163,030 |
Condensed Statements of Operations | Condensed Statements of Operations
|  | Year Ended December 31,
($ in thousands) |  | 2021 |  | 2020 |  | 2019
Income |  |  |  |  |  |
Dividends from subsidiaries |  | $ | 78,000 |  |  | $ | 37,000 |  |  | $ | 142,467 |
Legal settlement income |  | — |  |  | 2,013 |  |  | — |
Other operating income |  | 212 |  |  | 211 |  |  | 62 |
Total income |  | 78,212 |  |  | 39,224 |  |  | 142,529 |
Expenses |  |  |  |  |  |
Interest expense for notes payable and other borrowings |  | 13,498 |  |  | 10,141 |  |  | 9,480 |
Other operating expense |  | 2,621 |  |  | 5,794 |  |  | 3,311 |
Total expenses |  | 16,119 |  |  | 15,935 |  |  | 12,791 |
Income before income taxes and excess dividends in undistributed earnings of subsidiaries |  | 62,093 |  |  | 23,289 |  |  | 129,738 |
Income tax benefit |  | (7,385) |  |  | (5,812) |  |  | (3,670) |
Income before excess dividends in undistributed earnings of subsidiaries |  | 69,478 |  |  | 29,101 |  |  | 133,408 |
Excess dividends in undistributed earnings of subsidiaries |  | (7,132) |  |  | (16,527) |  |  | (109,649) |
Net income |  | $ | 62,346 |  |  | $ | 12,574 |  |  | $ | 23,759 |
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows
|  | Year Ended December 31,
($ in thousands) |  | 2021 |  | 2020 |  | 2019
Cash flows from operating activities: |  |  |  |  |  |
Net income |  | $ | 62,346 |  |  | $ | 12,574 |  |  | $ | 23,759 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |
Excess dividends in undistributed earnings of subsidiaries |  | 7,132 |  |  | 16,527 |  |  | 109,649 |
Stock-based compensation expense |  | 776 |  |  | 3,269 |  |  | 1,446 |
Amortization of debt issuance cost |  | 493 |  |  | 324 |  |  | 247 |
Deferred income tax expense (benefit) |  | 2,770 |  |  | (417) |  |  | (86) |
Net change in other assets and liabilities |  | (4,171) |  |  | (7,377) |  |  | (2,095) |
Net cash provided by operating activities |  | 69,346 |  |  | 24,900 |  |  | 132,920 |
Cash flows from investing activities: |  |  |  |  |  |
Purchase of investments |  | (1,000) |  |  | — |  |  | (5,000) |
Net cash acquired in business combination |  | 8,815 |  |  | — |  |  | — |
Net cash provided by (used in) investing activities |  | 7,815 |  |  | — |  |  | (5,000) |
Cash flows from financing activities: |  |  |  |  |  |
Net proceeds from issuance of long-term debt |  | — |  |  | 82,570 |  |  | — |
Redemption of preferred stock |  | (93,269) |  |  | (4,379) |  |  | (46,396) |
Purchase of treasury stock |  | — |  |  | (12,041) |  |  | — |
Proceeds from exercise of stock options |  | 300 |  |  | — |  |  | — |
Restricted stock surrendered due to employee tax liability |  | (2,182) |  |  | (923) |  |  | (1,023) |
Dividend equivalents paid on stock appreciation rights |  | — |  |  | (376) |  |  | (483) |
Dividends paid on common stock |  | (12,843) |  |  | (11,847) |  |  | (15,744) |
Dividends paid on preferred stock |  | (8,322) |  |  | (13,869) |  |  | (15,559) |
Net cash (used in) provided by financing activities |  | (116,316) |  |  | 39,135 |  |  | (79,205) |
Net change in cash and cash equivalents |  | (39,155) |  |  | 64,035 |  |  | 48,715 |
Cash and cash equivalents at beginning of year |  | 138,006 |  |  | 73,971 |  |  | 25,256 |
Cash and cash equivalents at end of year |  | $ | 98,851 |  |  | $ | 138,006 |  |  | $ | 73,971 |

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