Sale of Subsidiary (Tables)

12 Months Ended

Dec. 31, 2019

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,		December 31,
($ in thousands)	2019		2018
ASSETS
Goodwill	$	—	$	8
Other assets		—		625
Assets of discontinued operations	$	—	$	633
LIABILITIES
Accrued expenses and other liabilities	$	—	$	3,323
Liabilities of discontinued operations	$	—	$	3,323

Statements of Income of Discontinued Operations

	For Year Ended
	December 31,
($ in thousands)	2019		2018
Noninterest income
Net gain on disposal	$	—	$	12,736
Insurance agency commissions		—		9,006
All other income		15		335
Total noninterest income		15		22,077
Noninterest expense
Salaries and wages		28		5,156
Employee benefits		7		1,173
Occupancy expense		14		428
Furniture and equipment		1		—
Amortization of intangible assets		—		47
Legal and professional fees		73		77
Other noninterest expenses		5		1,039
Total noninterest expense		128		7,920
(Loss) income from discontinued operations before income taxes		(113)		14,157
Income tax (benefit) expense		(27)		4,923
(Loss) income from discontinued operations	$	(86)	$	9,234