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INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Amortized Cost and Fair Value of Available-for-Sale 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, 2022
Securities held-to-maturity:
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities						$	153,033					$	—					$	(29,807)					$	123,226
U.S. government agency and U.S. government sponsored enterprise collateralized mortgage obligations						61,404						—						(11,946)						49,458
Municipal securities						114,204						—						(24,428)						89,776
Total securities held-to-maturity						$	328,641					$	—					$	(66,181)					$	262,460
Securities available-for-sale:
SBA loan pool securities						$	11,241					$	—					$	(54)					$	11,187
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities						40,431						—						(225)						40,206
U.S. government agency and U.S. government sponsored enterprise collateralized mortgage obligations						99,075						—						(5,884)						93,191
Non-agency residential mortgage-backed securities						90,832						—						(10,340)						80,492
Collateralized loan obligations						492,203						—						(15,600)						476,603
Corporate debt securities						175,781						32						(9,195)						166,618
Total securities available-for-sale						$	909,563					$	32					$	(41,298)					$	868,297
December 31, 2021
Securities available-for-sale:
SBA loan pool securities						$	14,679					$	—					$	(88)					$	14,591
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities						190,382						2,898						$	(1,311)					191,969
U.S. government agency and U.S. government sponsored enterprise collateralized mortgage obligations						242,458						1,171						(2,088)						241,541
Municipal securities						117,913						2,641						(1,539)						119,015
Non-agency residential mortgage-backed securities						56,014						11						—						56,025
Collateralized loan obligations						521,275						—						(2,311)						518,964
Corporate debt securities						162,002						11,603						(7)						173,598
Total securities available-for-sale						$	1,304,723					$	18,324					$	(7,344)					$	1,315,703

Schedule of 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)						2022						2021						2020
Gross realized gains on sales and calls						$	209					$	—					$	2,011
Gross realized losses on sales and calls						(7,901)						—						—
Net realized (losses) gains on sales and calls						$	(7,692)					$	—					$	2,011
Proceeds from sales and calls						$	167,295					$	191,230					$	68,829

Schedule of Securities Available-for-Sale

The following table summarizes the investment securities available-for-sale 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, 2022
Securities available-for-sale:
SBA loan pool securities						$	2,260					$	(3)					$	8,927					$	(51)					$	11,187					$	(54)
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities						40,206						(225)						—						—						40,206						(225)
U.S. government agency and U.S. government sponsored enterprise collateralized mortgage obligations						76,441						(2,533)						16,750						(3,351)						93,191						(5,884)
Non-agency residential mortgage-backed securities						80,492						(10,340)						—						—						80,492						(10,340)
Collateralized loan obligations						235,936						(7,492)						240,667						(8,108)						476,603						(15,600)
Corporate debt securities						159,492						(8,374)						4,180						(821)						163,672						(9,195)
Total securities available-for-sale						$	594,827					$	(28,967)					$	270,524					$	(12,331)					$	865,351					$	(41,298)
December 31, 2021
Securities available-for-sale:
SBA loan pool securities						$	—					$	—					$	14,591					$	(88)					$	14,591					$	(88)
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities						67,588						(1,311)						—						—						67,588						(1,311)
U.S. government agency and U.S. government sponsored enterprise collateralized mortgage obligations						85,290						(1,184)						17,754						(904)						103,044						(2,088)
Municipal securities						44,748						(919)						10,762						(620)						55,510						(1,539)
Collateralized loan obligations						81,962						(38)						253,002						(2,273)						334,964						(2,311)
Corporate debt securities						4,993						(7)						—						—						4,993						(7)
Total securities available-for-sale						$	284,581					$	(3,459)					$	296,109					$	(3,885)					$	580,690					$	(7,344)

The following table presents the fair value and weighted average yields using amortized cost of the securities available-for-sale portfolio, as of December 31, 2022, based on the earlier of contractual maturity dates or next repricing dates:

						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						$	11,187					3.18		%				$	—					—		%				$	—					—		%				$	—					—		%				$	11,187					3.18		%
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities						—						—		%				—						—		%				—						—		%				40,206						5.59		%				40,206						5.59		%
U.S. government agency and U.S. government sponsored enterprise collateralized mortgage obligations						5,531						4.65		%				7,941						3.24		%				24,918						2.76		%				54,801						4.80		%				93,191						4.04		%
Non-agency residential mortgage-backed securities						—						—		%				—						—		%				—						—		%				80,492						3.68		%				80,492						3.68		%
Collateralized loan obligations						476,603						5.85		%				—						—		%				—						—		%				—						—		%				476,603						5.85		%
Corporate debt securities						—						—		%				153,740						4.82		%				12,878						5.73		%				—						—		%				166,618						4.89		%
Total securities available-for-sale						$	493,321					5.78		%				$	161,681					4.74		%				$	37,796					3.69		%				$	175,499					4.42		%				$	868,297					5.20		%

Schedule of Investments Classified by Contractual Maturity Date

The following table presents the amortized cost and fair value of the investment securities portfolio, based on the earlier of contractual maturity dates or next repricing date, as of December 31, 2022:

						Held-to-Maturity												Available-for-Sale
($ in thousands)						Amortized Cost						Fair Value						Amortized Cost						Fair Value
Earlier of maturity or next repricing date:
Within one year						$	—					$	—					$	509,099					$	493,321
One to five years						—						—						171,497						161,681
Five to ten years						28,675						24,039						42,590						37,796
Greater than ten years						299,966						238,421						186,377						175,499
Total						$	328,641					$	262,460					$	909,563					$	868,297

Schedule of Fair Value and Weighted Average Yields of Securities Held-to-Maturity

The following table presents the fair value and weighted average yields using amortized cost of the securities held-to-maturity portfolio as of December 31, 2022, based on the earlier of contractual maturity dates or next repricing dates:

						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 held-to-maturity:
U.S. government agency and U.S. government sponsored enterprise residential mortgage-backed securities						$	—					—		%				$	—					—		%				$	7,987					2.52		%				$	115,239					2.70		%				$	123,226					2.69		%
U.S. government agency and U.S. government sponsored enterprise collateralized mortgage obligations						—						—		%				—						—		%				—						—		%				49,458						2.64		%				49,458						2.64		%
Municipal securities						—						—		%				—						—		%				16,052						2.19		%				73,724						2.71		%				89,776						2.62		%
Total securities held-to-maturity						$	—					—		%				$	—					—		%				$	24,039					2.29		%				$	238,421					2.69		%				$	262,460					2.65		%

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- 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 https://asc.fasb.org/topic&trid=2196928

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 5B
-URI https://asc.fasb.org/extlink&oid=126970911&loc=SL120269825-111563

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-Name Accounting Standards Codification
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-Section 50
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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.

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