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Sale of Subsidiary (Tables)
3 Months Ended
Mar. 31, 2019
Sale of Subsidiary [Abstract]  
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

 

 

 

 

 

 

 

 

 

March 31, 

 

December 31,

($ in thousands)

    

2019

    

2018

ASSETS

 

 

 

 

 

 

Premises and equipment, net

 

$

 —

 

$

 —

Goodwill

 

 

 8

 

 

 8

Other assets

 

 

 6

 

 

625

Assets of discontinued operations

 

$

14

 

$

633

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

 

 

 

 

 

 

 

 

Accrued expenses and other liabilities

 

$

2,811

 

$

3,323

Liabilities of discontinued operations

 

$

2,811

 

$

3,323

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended

 

 

March 31,

($ in thousands)

    

2019

    

2018

Noninterest income

 

 

 

 

 

 

Insurance agency commissions

 

$

 —

 

$

2,694

All other income

 

 

14

 

 

95

Total noninterest income

 

 

14

 

 

2,789

Noninterest expense

 

 

 

 

 

 

Salaries and wages

 

 

31

 

 

1,247

Employee benefits

 

 

 7

 

 

341

Occupancy expense

 

 

18

 

 

104

Furniture and equipment

 

 

 1

 

 

 —

Amortization of intangible assets

 

 

 —

 

 

12

Legal and professional fees

 

 

64

 

 

16

Other noninterest expenses

 

 

(8)

 

 

290

Total noninterest expense

 

 

113

 

 

2,010

(Loss) income from discontinued operations before income taxes

 

 

(99)

 

 

779

Income tax (benefit) expense

 

 

(25)

 

 

183

(Loss) income from discontinued operations

 

$

(74)

 

$

596