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SALE OF SUBSIDIARY (Table) | 12 Months Ended
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Dec. 31, 2018
SALE OF SUBSIDIARY [Abstract] |
Net gain on disposal of discontinued operations | The following table summarizes the calculation of the net gain on disposal of discontinued operations: ﻿ ﻿ ﻿ ﻿
﻿ |  |  |
﻿($ in thousands) |  | Year Ended December 31, 2018
﻿Proceeds from the transaction |  | $ | 29,276
﻿Compensation expense related to the transaction |  |  | 2,588
﻿Broker fees |  |  | 935
﻿Other transaction costs |  |  | 594
﻿ Net cash proceeds |  |  | 25,159
﻿Net assets sold |  |  | (12,423)
﻿ Net gain on disposal |  | $ | 12,736
﻿
Financial information of discontinued operations | The following tables present the financial information of discontinued operations as of the dates and for the periods indicated: ﻿ Balance Sheets of Discontinued Operations ﻿ ﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |
﻿ |  | December 31,
﻿($ in thousands) |  |  | 2018 |  |  | 2017
﻿ASSETS |  |  |  |  |  |
﻿Premises and equipment, net |  | $ | - |  | $ | 424
﻿Goodwill |  |  | 8 |  |  | 10,100
﻿Other assets |  |  | 625 |  |  | 717
﻿Assets of discontinued operations |  | $ | 633 |  | $ | 11,241
﻿ |  |  |  |  |  |
﻿LIABILITIES |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿Accrued expenses and other liabilities |  | $ | 3,323 |  | $ | 1,065
﻿Liabilities of discontinued operations |  | $ | 3,323 |  | $ | 1,065
﻿ ﻿ Statements of Income of Discontinued Operations ﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |
﻿ |  | For the Years Ended
﻿ |  | December 31,
﻿($ in thousands) |  |  | 2018 |  |  | 2017
﻿Noninterest income |  |  |  |  |  |
﻿ Net gain on disposal |  | $ | 12,736 |  | $ | -
﻿ Insurance agency commissions |  |  | 9,006 |  |  | 8,837
﻿ All other income |  |  | 335 |  |  | 551
﻿ Total noninterest income |  |  | 22,077 |  |  | 9,388
﻿Noninterest expense |  |  |  |  |  |
﻿ Salaries and wages |  |  | 5,156 |  |  | 4,931
﻿ Employee benefits |  |  | 1,173 |  |  | 1,094
﻿ Occupancy expense |  |  | 428 |  |  | 361
﻿ Amortization of intangible assets |  |  | 47 |  |  | 84
﻿ Legal and professional fees |  |  | 77 |  |  | 54
﻿ Other noninterest expenses |  |  | 1,039 |  |  | 1,038
﻿ Total noninterest expense |  |  | 7,920 |  |  | 7,562
﻿Income from discontinued operations before income taxes |  |  | 14,157 |  |  | 1,826
﻿Income tax expense (benefit) |  |  | 4,923 |  |  | (211)
﻿ Income from discontinued operations |  | $ | 9,234 |  | $ | 2,037
﻿ ﻿ ﻿ Statements of Cash Flows of Discontinued Operations ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |
﻿ |  | For the Years Ended
﻿ |  | December 31,
﻿($ in thousands) |  |  | 2018 |  |  | 2017
﻿Cash flows from operating activities: |  |  |  |  |  |
﻿ Net income |  | $ | 9,234 |  | $ | 2,037
﻿ Adjustments to reconcile net income to cash |  |  |  |  |  |
﻿ provided by operating activities: |  |  |  |  |  |
﻿ Depreciation and amortization |  |  | 107 |  |  | 142
﻿ Stock-based compensation expense |  |  | - |  |  | 12
﻿ Net decrease (increase) in other assets |  |  | (1,919) |  |  | (1,844)
﻿ Net increase in other liabilities |  |  | 2,258 |  |  | 404
﻿ Losses on disposal of premises and equipment |  |  | - |  |  | 2
﻿ Net (gain) on sale of insurance agency |  |  | (12,736) |  |  | -
﻿ Net cash (used in) operating activities |  |  | (3,056) |  |  | 753
﻿Cash flows from investing activities: |  |  |  |  |  |
﻿ Purchases of premises and equipment |  |  | 3 |  |  | (345)
﻿ Proceeds from sale of insurance agency |  |  | 25,159 |  |  | -
﻿ Net cash provided by (used in) investing activities |  |  | 25,162 |  |  | (345)
﻿ Net cash provided by discontinued operations |  | $ | 22,106 |  | $ | 408
﻿

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- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=84176398&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=84176398&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760 + Details
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