Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Jul. 25, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'EverBank Financial Corp | ' |
Entity Central Index Key | '0001502749 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Jun-14 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 122,930,169 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $65,433 | $46,175 |
Interest-bearing deposits in banks | 104,563 | 801,603 |
Total cash and cash equivalents | 169,996 | 847,778 |
Investment securities: | ' | ' |
Available for sale securities, at fair value | 1,029,667 | 1,115,627 |
Held to maturity (fair value of $120,965 and $107,921 as of June 30, 2014 and December 31, 2013, respectively) | 118,614 | 107,312 |
Other investments | 186,818 | 128,063 |
Total investment securities | 1,335,099 | 1,351,002 |
Loans held for sale (includes $829,946 and $672,371 carried at fair value as of June 30, 2014 and December 31, 2013, respectively) | 1,704,406 | 791,382 |
Loans and leases held for investment: | ' | ' |
Loans and leases held for investment, net of unearned income | 15,294,644 | 13,252,724 |
Allowance for loan and lease losses | -56,728 | -63,690 |
Total loans and leases held for investment, net | 15,237,916 | 13,189,034 |
Equipment under operating leases, net | 18,460 | 28,126 |
Mortgage servicing rights (MSR), net | 437,595 | 506,680 |
Deferred income taxes, net | 54,351 | 51,375 |
Premises and equipment, net | 54,844 | 60,733 |
Other assets | 741,153 | 814,874 |
Total Assets | 19,753,820 | 17,640,984 |
Deposits | ' | ' |
Noninterest-bearing | 1,055,556 | 1,076,631 |
Interest-bearing | 12,819,119 | 12,184,709 |
Total deposits | 13,874,675 | 13,261,340 |
Other borrowings | 3,797,000 | 2,377,000 |
Trust preferred securities | 103,750 | 103,750 |
Accounts payable and accrued liabilities | 298,947 | 277,881 |
Total Liabilities | 18,074,372 | 16,019,971 |
Commitments and Contingencies (Note 14) | ' | ' |
Shareholders' Equity | ' | ' |
Series A 6.75%, Non-Cumulative Perpetual Preferred Stock, $0.01 par value (liquidation preference of $25,000 per share; 10,000,000 shares authorized; 6,000 issued and outstanding at June 30, 2014 and December 31, 2013) | 150,000 | 150,000 |
Common Stock, $0.01 par value (500,000,000 shares authorized; 122,918,919 and 122,626,315 issued and outstanding at June 30, 2014 and December 31, 2013, respectively) | 1,229 | 1,226 |
Additional paid-in capital | 837,991 | 832,351 |
Retained earnings | 744,164 | 690,051 |
Accumulated other comprehensive income (loss) (AOCI) | -53,936 | -52,615 |
Total Shareholders' Equity | 1,679,448 | 1,621,013 |
Total Liabilities and Shareholders' Equity | $19,753,820 | $17,640,984 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Held to maturity securities at fair value | $120,965 | $107,921 |
Loans held for sale at fair value | $829,946 | $672,371 |
Common Stock, par value | $0.01 | $0.01 |
Common Stock, shares authorized | 500,000,000 | 500,000,000 |
Common Stock, shares issued | 122,918,919 | 122,626,315 |
Common Stock, shares outstanding | 122,918,919 | 122,626,315 |
Noncumulative Preferred Stock [Member] | ' | ' |
Preferred Stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred Stock, shares issued | 6,000 | 6,000 |
Preferred Stock, shares outstanding | 6,000 | 6,000 |
Preferred Stock, par value | $0.01 | $0.01 |
Preferred Stock, liquidation preference, per share | $25,000 | $25,000 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Interest Income | ' | ' | ' | ' |
Interest and fees on loans and leases | $170,325 | $172,723 | $328,795 | $346,509 |
Interest and dividends on investment securities | 9,818 | 14,813 | 19,649 | 31,063 |
Other interest income | 110 | 317 | 272 | 615 |
Total interest income | 180,253 | 187,853 | 348,716 | 378,187 |
Interest Expense | ' | ' | ' | ' |
Deposits | 23,442 | 26,567 | 46,049 | 53,390 |
Other borrowings | 16,620 | 20,069 | 31,632 | 39,764 |
Total interest expense | 40,062 | 46,636 | 77,681 | 93,154 |
Net Interest Income | 140,191 | 141,217 | 271,035 | 285,033 |
Provision for Loan and Lease Losses | 6,123 | 29 | 9,194 | 1,948 |
Net Interest Income after Provision for Loan and Lease Losses | 134,068 | 141,188 | 261,841 | 283,085 |
Noninterest Income | ' | ' | ' | ' |
Loan servicing fee income | 40,417 | 47,192 | 87,034 | 89,355 |
Amortization of mortgage servicing rights | -19,026 | -35,945 | -39,598 | -71,023 |
Recovery (impairment) of mortgage servicing rights | 0 | 32,572 | 4,941 | 45,127 |
Net loan servicing income | 21,391 | 43,819 | 52,377 | 63,459 |
Gain on sale of loans | 47,703 | 75,837 | 81,554 | 158,148 |
Loan production revenue | 5,347 | 10,063 | 9,926 | 19,552 |
Deposit fee income | 4,533 | 4,290 | 7,868 | 10,215 |
Other lease income | 3,806 | 6,471 | 8,711 | 12,882 |
Other | 6,488 | 6,324 | 13,416 | 15,857 |
Total noninterest income | 89,268 | 146,804 | 173,852 | 280,113 |
Noninterest Expense | ' | ' | ' | ' |
Salaries, commissions and other employee benefits expense | 95,259 | 118,457 | 192,953 | 228,936 |
Equipment expense | 17,345 | 20,707 | 35,993 | 40,559 |
Occupancy expense | 7,885 | 7,547 | 15,957 | 14,931 |
General and administrative expense | 46,831 | 66,829 | 83,629 | 140,930 |
Total noninterest expense | 167,320 | 213,540 | 328,532 | 425,356 |
Income before Provision for Income Taxes | 56,016 | 74,452 | 107,161 | 137,842 |
Provision for Income Taxes | 21,234 | 28,459 | 40,619 | 52,703 |
Net Income | 34,782 | 45,993 | 66,542 | 85,139 |
Less: Net Income Allocated to Preferred Stock | -2,531 | -2,531 | -5,062 | -5,062 |
Net Income Allocated to Common Shareholders | $32,251 | $43,462 | $61,480 | $80,077 |
Basic Earnings Per Common Share | $0.26 | $0.36 | $0.50 | $0.66 |
Diluted Earnings Per Common Share | $0.26 | $0.35 | $0.49 | $0.65 |
Dividends Declared Per Common Share | $0.03 | $0.02 | $0.06 | $0.04 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Net Income | $34,782 | $45,993 | $66,542 | $85,139 |
Unrealized Gains (Losses) on Debt Securities | ' | ' | ' | ' |
Reclassification of unrealized gains to noninterest income | -1,250 | 0 | -1,250 | 0 |
Unrealized gains (losses) due to changes in fair value | 2,508 | 23,500 | 2,598 | 22,796 |
Other-than-temporary impairment (OTTI) (noncredit portion), net of accretion | 685 | 0 | 685 | 0 |
Tax effect | 1,169 | 8,932 | 1,203 | 8,668 |
Change in unrealized gains (losses) on debt securities | -1,904 | -14,568 | -1,960 | -14,128 |
Interest Rate Swaps | ' | ' | ' | ' |
Net unrealized gains (losses) due to changes in fair value | -1,851 | 17,383 | -7,475 | 21,766 |
Reclassification of net unrealized losses to interest expense | 4,456 | 6,011 | 8,506 | 11,368 |
Tax effect | -990 | -8,891 | -392 | -12,611 |
Changes in interest rate swaps | 1,615 | 14,503 | 639 | 20,523 |
Other Comprehensive Income (Loss) | -289 | -65 | -1,321 | 6,395 |
Comprehensive Income (Loss) | $34,493 | $45,928 | $65,221 | $91,534 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands | ||||||
Balance at Dec. 31, 2012 | $1,451,176 | $150,000 | $1,210 | $811,085 | $575,665 | ($86,784) |
Net Income | 85,139 | 0 | 0 | 0 | 85,139 | 0 |
Other comprehensive loss | 6,395 | 0 | 0 | 0 | 0 | 6,395 |
Issuance of common stock | 10,470 | 0 | 14 | 10,456 | 0 | 0 |
Share-based grants (including income tax benefits) | 6,141 | 0 | 0 | 6,141 | 0 | 0 |
Cash dividends on common stock | -4,875 | 0 | 0 | 0 | -4,875 | 0 |
Cash dividends on preferred stock | -5,063 | 0 | 0 | 0 | -5,063 | 0 |
Balance at Jun. 30, 2013 | 1,549,383 | 150,000 | 1,224 | 827,682 | 650,866 | -80,389 |
Balance at Dec. 31, 2013 | 1,621,013 | 150,000 | 1,226 | 832,351 | 690,051 | -52,615 |
Net Income | 66,542 | 0 | 0 | 0 | 66,542 | 0 |
Other comprehensive loss | -1,321 | 0 | 0 | 0 | 0 | -1,321 |
Issuance of common stock | 1,266 | 0 | 3 | 1,263 | 0 | 0 |
Share-based grants (including income tax benefits) | 4,377 | 0 | 0 | 4,377 | 0 | 0 |
Cash dividends on common stock | -7,367 | 0 | 0 | 0 | -7,367 | 0 |
Cash dividends on preferred stock | -5,062 | 0 | 0 | 0 | -5,062 | 0 |
Balance at Jun. 30, 2014 | $1,679,448 | $150,000 | $1,229 | $837,991 | $744,164 | ($53,936) |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Operating Activities: | ' | ' |
Net income | $66,542 | $85,139 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ' | ' |
Amortization of premiums and deferred origination costs | 17,235 | 19,303 |
Depreciation and amortization of tangible and intangible assets | 16,736 | 20,121 |
Reclassification of net loss on settlement of interest rate swaps | 8,506 | 11,368 |
Amortization and impairment of mortgage servicing rights, net of recoveries | 34,657 | 25,896 |
Deferred income taxes (benefit) | -2,180 | 27,120 |
Provision for loan and lease losses | 9,194 | 1,948 |
Loss on other real estate owned (OREO) | 1,164 | 2,855 |
Available-for-sale Securities, Gross Realized Gains | -1,250 | 0 |
Share-based compensation expense | 3,444 | 3,147 |
Payments for settlement of forward interest rate swaps | -32,445 | -30,181 |
Other operating activities | -2,013 | 3 |
Changes in operating assets and liabilities: | ' | ' |
Loans held for sale, including proceeds from sales and repayments | -129,886 | -665,369 |
Other assets | 150,866 | 68,592 |
Accounts payable and accrued liabilities | 78,841 | -2,982 |
Net cash provided by (used in) operating activities | 219,411 | -433,040 |
Investment securities available for sale: | ' | ' |
Purchases | -77,699 | -27,898 |
Proceeds from sales | 3,875 | 0 |
Proceeds from prepayments and maturities | 158,968 | 265,572 |
Investment securities held to maturity: | ' | ' |
Purchases | -19,456 | -19,260 |
Proceeds from prepayments and maturities | 7,837 | 46,691 |
Purchases of other investments | -249,527 | -57,050 |
Proceeds from sale of other investments | 190,773 | 72,997 |
Net change in loans and leases held for investment | -3,082,569 | -32,012 |
Purchases of premises and equipment, including equipment under operating leases | -12,414 | -9,246 |
Purchases of mortgage servicing assets | -1,180 | -41,377 |
Proceeds related to sale or settlement of other real estate owned | 17,341 | 19,620 |
Proceeds from insured foreclosure claims | 102,377 | 198,878 |
Proceeds from Sale of Mortgage Servicing Rights (MSR) | 37,738 | 0 |
Other investing activities | 16,163 | 3,546 |
Net cash provided by (used in) investing activities | -2,907,773 | 420,461 |
Financing Activities: | ' | ' |
Net increase (decrease) in nonmaturity deposits | -468,922 | 826,916 |
Net increase (decrease) in time deposits | 1,069,732 | -269,741 |
Net change in repurchase agreements | 0 | -142,322 |
Net change in short-term Federal Home Loan Bank (FHLB) advances | 1,295,000 | -475,500 |
Proceeds from long-term FHLB advances | 200,000 | 225,000 |
Repayments of long-term FHLB advances, including early extinguishment | -75,000 | -112,158 |
Proceeds from issuance of common stock | 1,266 | 10,470 |
Other financing activities | 11,496 | 4,413 |
Net cash provided by (used in) financing activities | 2,010,580 | 58,252 |
Net change in cash and cash equivalents | -677,782 | 45,673 |
Cash and cash equivalents at beginning of period | 847,778 | 443,914 |
Cash and cash equivalents at end of period | $169,996 | $489,587 |
Organization_and_Basis_of_Pres
Organization and Basis of Presentation (Notes) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Organization and Basis of Presentation [Abstract] | ' | |||||||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' | |||||||
1. Organization and Basis of Presentation | ||||||||
a) Organization — EverBank Financial Corp (the Company) is a savings and loan holding company with two direct operating subsidiaries, EverBank (EB) and EverBank Funding, LLC (EBF). EB is a federally chartered thrift institution with its home office located in Jacksonville, Florida. Its direct banking services are offered nationwide. In addition, EB operates financial centers in Florida and commercial and consumer lending centers across the United States. EB (a) accepts deposits from the general public; (b) originates, purchases, services, sells and securitizes residential real estate mortgage loans, commercial real estate loans and commercial loans and leases; (c) originates consumer and home equity loans; and (d) offers full-service securities brokerage and investment advisory services. | ||||||||
EB’s subsidiaries are: | ||||||||
•AMC Holding, Inc., the parent of CustomerOne Financial Network, Inc.; | ||||||||
•Tygris Commercial Finance Group, Inc. (Tygris), the parent of EverBank Commercial Finance, Inc.; | ||||||||
•EverInsurance, Inc.; | ||||||||
•Elite Lender Services, Inc.; | ||||||||
•EverBank Wealth Management, Inc.; and | ||||||||
•Business Property Lending, Inc. | ||||||||
On February 14, 2013, the Company formed EverBank Funding, LLC, a Delaware limited liability company, to facilitate the pooling and securitization of mortgage loans for issuance into the secondary market. | ||||||||
b) Basis of Presentation — The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information or footnotes necessary for a complete presentation of financial position, results of operations, comprehensive income, and cash flows in conformity with generally accepted accounting principles. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and accompanying notes to the financial statements reported in the Current Report on Form 8-K filed with the Securities and Exchange Commission on July 30, 2014, which represents the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013 amended for the change in reportable business segments described further in Note 16. Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The results of operations for acquired companies are included from their respective dates of acquisition. In management’s opinion, all adjustments (which include normal recurring adjustments) necessary to present fairly the financial position, results of operations, comprehensive income, and changes in cash flows have been made. | ||||||||
GAAP requires management to make estimates that affect the reported amounts of assets and liabilities and disclosure of contingencies in the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Estimates by their nature are based on judgment and available information. Material estimates relate to the Company’s allowance for loan and lease losses, loans and leases acquired with evidence of credit deterioration, repurchase obligations, contingent liabilities, and the fair values of investment securities, loans held for sale, MSR and derivative instruments. Because of the inherent uncertainties associated with any estimation process and future changes in market and economic conditions, it is possible that actual results could differ significantly from those estimates. | ||||||||
c) Supplemental Cash Flow Information - Noncash investing activities are presented in the following table: | ||||||||
Six Months Ended | ||||||||
June 30, | ||||||||
2014 | 2013 | |||||||
Supplemental Schedules of Noncash Activities: | ||||||||
Loans transferred to foreclosure claims | $ | 185,417 | $ | 318,820 | ||||
Loans transferred from held for sale to held for investment | 38,785 | 745,262 | ||||||
Loans transferred from held for investment to held for sale | 1,432,337 | 326,636 | ||||||
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements and Updates(Notes) | 6 Months Ended |
Jun. 30, 2014 | |
Recent Accounting Pronouncements and Updates to Significant Accounting Policies [Abstract] | ' |
Recent Accounting Pronouncements and Updates to Significant Accounting Policies | ' |
2. Recent Accounting Pronouncements | |
Repurchase-to-Maturity Transactions — In June 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-11, Transfers and Servicing (Topic 860) - Repurchase-to-Maturity Transactions, Repurchase Financings and Disclosures, which changes the accounting for repurchase-to-maturity transactions. Repurchase-to-maturity transactions represent repurchase agreements where the maturity of the security transferred as collateral matches the maturity of the repurchase agreement. Under ASU 2014-11, repurchase-to-maturity transactions will be accounted for as secured borrowings similar to other repurchase agreements. ASU 2014-11 also modifies the accounting for repurchase financings which represent the concurrent transfer of a financial asset and the execution of a repurchase agreement with the same counterparty. Under ASU 2014-11, the transfer and repurchase agreement are accounted for separately with the repurchase agreement accounted for as a secured borrowing. ASU 2014-11 is effective for annual reporting periods beginning on or after December 15, 2014, and interim periods within those annual periods with early adoption permitted. Upon adoption, the accounting for all outstanding repurchase-to-maturity and repurchase financing transactions is to be adjusted through a cumulative-effect adjustment to retained earnings. The Company is currently evaluating the pending adoption of ASU 2014-11 and its impact on its consolidated financial statements. | |
Revenue from Contracts with Customers — In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Subtopic 606), which supersedes the guidance in former ASC (Accounting Standards Codification) 605, Revenue Recognition. ASU 2014-09 clarifies the principles for recognizing revenue in order to improve comparability of revenue recognition practices across entities and industries with certain scope exceptions including financial instruments, leases and guarantees. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods and services. To satisfy this objective, ASU 2014-09 provides guidance intended to assist in the identification of contracts with customers and separate performance obligations within those contracts, the determination and allocation of the transaction price to those identified performance obligations and the recognition of revenue when a performance obligation has been satisfied. ASU 2014-09 also implements enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenues and cash flows from contracts with customers. ASU 2014-09 is effective for annual reporting periods beginning on or after December 15, 2016, and interim periods within those annual periods with early adoption prohibited. Upon adoption, ASU 2014-09 provides for transition through either a full retrospective approach requiring the restatement of all presented prior periods or a modified retrospective approach which allows for the new recognition standard to be applied to only those contracts that are not completed at the date of transition. If the modified retrospective approach is adopted, a cumulative-effect adjustment to retained earnings is performed with additional disclosures required including the amount by which each line item is affected by the transition as compared to the guidance in effect before adoption and an explanation of the reasons for significant changes in these amounts. The Company is currently evaluating the pending adoption of ASU 2014-09 and its impact on its consolidated financial statements and has not yet identified which transition method will be applied upon adoption. | |
Presentation of Residential Mortgage Loans Upon Foreclosure — In January 2014, the FASB issued ASU 2014-04, Receivables- Troubled Debt Restructurings by Creditors (Subtopic 310-40), which will eliminate diversity in practice regarding the timing of derecognition for residential mortgage loans when a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan. Under ASU 2014-04, physical possession of residential real estate property is achieved when either the creditor obtains legal title to the residential real estate property upon completion of a foreclosure or the borrower conveys all interest in the residential real estate property through completion of a deed in lieu of foreclosure in order to satisfy that loan. Once physical possession has been achieved, the loan is derecognized and the property recorded within other assets at the lower of cost or fair value (less estimated costs to sell). In addition, the guidance requires both interim and annual disclosure of both the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure. The additional disclosure requirements are effective for annual reporting periods beginning on or after December 15, 2014, and interim periods within those annual periods with retrospective disclosure necessary for all comparative periods presented. The adoption of this standard will result in additional disclosures but is not expected to have any impact on the Company’s consolidated financial statements or results of operations. |
Investment_Securities_Notes
Investment Securities (Notes) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Investment Securities [Abstract] | ' | |||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | |||||||||||||||||||||||
3. Investment Securities | ||||||||||||||||||||||||
The amortized cost and fair value of investment securities with gross unrealized gains and losses were as follows as of June 30, 2014 and December 31, 2013: | ||||||||||||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | Carrying Amount | ||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Available for sale: | ||||||||||||||||||||||||
Residential collateralized mortgage obligations (CMO) securities - nonagency | $ | 1,019,143 | $ | 10,878 | $ | 2,669 | $ | 1,027,352 | $ | 1,027,352 | ||||||||||||||
Asset-backed securities (ABS) | 2,140 | — | 430 | 1,710 | 1,710 | |||||||||||||||||||
Other | 289 | 316 | — | 605 | 605 | |||||||||||||||||||
Total available for sale securities | $ | 1,021,572 | $ | 11,194 | $ | 3,099 | $ | 1,029,667 | $ | 1,029,667 | ||||||||||||||
Held to maturity: | ||||||||||||||||||||||||
Residential CMO securities - agency | $ | 35,651 | $ | 1,190 | $ | 1 | $ | 36,840 | $ | 35,651 | ||||||||||||||
Residential mortgage-backed securities (MBS) - agency | 82,963 | 1,617 | 455 | 84,125 | 82,963 | |||||||||||||||||||
Total held to maturity securities | $ | 118,614 | $ | 2,807 | $ | 456 | $ | 120,965 | $ | 118,614 | ||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Available for sale: | ||||||||||||||||||||||||
Residential CMO securities - nonagency | $ | 1,097,293 | $ | 15,253 | $ | 3,275 | $ | 1,109,271 | $ | 1,109,271 | ||||||||||||||
Asset-backed securities | 4,144 | — | 1,058 | 3,086 | 3,086 | |||||||||||||||||||
Other | 2,933 | 337 | — | 3,270 | 3,270 | |||||||||||||||||||
Total available for sale securities | $ | 1,104,370 | $ | 15,590 | $ | 4,333 | $ | 1,115,627 | $ | 1,115,627 | ||||||||||||||
Held to maturity: | ||||||||||||||||||||||||
Residential CMO securities - agency | $ | 41,347 | $ | 1,408 | $ | 5 | $ | 42,750 | $ | 41,347 | ||||||||||||||
Residential MBS - agency | 65,965 | 754 | 1,548 | 65,171 | 65,965 | |||||||||||||||||||
Total held to maturity securities | $ | 107,312 | $ | 2,162 | $ | 1,553 | $ | 107,921 | $ | 107,312 | ||||||||||||||
At June 30, 2014 and December 31, 2013, investment securities with a carrying value of $177,643 and $181,836, respectively, were pledged to secure other borrowings, securities sold under agreements to repurchase, and for other purposes as required or permitted by law. | ||||||||||||||||||||||||
For the three and six months ended June 30, 2014 gross gains of $1,250 were realized on available for sale investments with no gross losses having been realized. For the three and six months ended June 30, 2013, there were no gross gains or gross losses realized on available for sale investments. The cost of investments sold is calculated using the specific identification method. | ||||||||||||||||||||||||
The gross unrealized losses and fair value of the Company’s investments with unrealized losses, aggregated by investment category and the length of time individual securities have been in a continuous unrealized loss position, at June 30, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Greater | Total | ||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
Residential CMO securities - nonagency | $ | 167,182 | $ | 2,224 | $ | 26,864 | $ | 445 | $ | 194,046 | $ | 2,669 | ||||||||||||
Residential CMO securities - agency | — | — | 183 | 1 | 183 | 1 | ||||||||||||||||||
Residential MBS - agency | 4,071 | 103 | 22,399 | 352 | 26,470 | 455 | ||||||||||||||||||
Asset-backed securities | — | — | 1,710 | 430 | 1,710 | 430 | ||||||||||||||||||
Total debt securities | $ | 171,253 | $ | 2,327 | $ | 51,156 | $ | 1,228 | $ | 222,409 | $ | 3,555 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
Residential CMO securities - nonagency | $ | 169,829 | $ | 3,012 | $ | 10,932 | $ | 263 | $ | 180,761 | $ | 3,275 | ||||||||||||
Residential CMO securities - agency | 887 | 5 | — | — | 887 | 5 | ||||||||||||||||||
Residential MBS - agency | 54,355 | 1,548 | — | — | 54,355 | 1,548 | ||||||||||||||||||
Asset-backed securities | — | — | 3,086 | 1,058 | 3,086 | 1,058 | ||||||||||||||||||
Total debt securities | $ | 225,071 | $ | 4,565 | $ | 14,018 | $ | 1,321 | $ | 239,089 | $ | 5,886 | ||||||||||||
The Company had unrealized losses at June 30, 2014 and December 31, 2013 on residential CMO securities, residential agency MBS, and ABS. These unrealized losses are primarily attributable to weak market conditions. Based on the nature of the impairment, these unrealized losses are considered temporary. The Company does not intend to sell nor is it more likely than not that it will be required to sell these investments before their anticipated recovery. | ||||||||||||||||||||||||
At June 30, 2014, the Company had 39 debt securities in an unrealized loss position. A total of 23 were in an unrealized loss position for less than 12 months. These 23 securities consisted of 22 residential nonagency CMO securities and one residential agency MBS. The remaining 16 debt securities were in an unrealized loss position for 12 months or longer. These 16 securities consisted of six residential nonagency CMO securities, six residential agency MBS, three ABS, and one residential agency CMO security. Of the $3,555 in unrealized losses, $2,647 relate to debt securities that are rated investment grade with the remainder representing securities for which the Company believes it has both the intent and ability to hold to recovery. | ||||||||||||||||||||||||
At December 31, 2013, the Company had 36 debt securities in an unrealized loss position. A total of 29 were in an unrealized loss position for less than 12 months. These 29 securities consisted of 14 residential nonagency CMO securities, one residential agency CMO security and 14 residential agency MBS. The remaining seven debt securities were in an unrealized loss position for 12 months or longer. These seven securities consisted of three ABS and four nonagency residential CMO securities. Of the $5,886 in unrealized losses, $4,659 relate to debt securities that are rated investment grade with the remainder representing securities for which the Company believes it has both the intent and ability to hold to recovery. | ||||||||||||||||||||||||
When certain triggers indicate the likelihood of an other-than-temporary-impairment (OTTI) or the qualitative evaluation performed cannot support the expectation of recovering the entire amortized cost basis of an investment, the Company performs cash flow analyses that project prepayments, default rates and loss severities on the collateral supporting each security. If the net present value of the investment is less than the amortized cost, the difference is recognized in earnings as a credit-related impairment, while the remaining difference between the fair value and the amortized cost is recognized in AOCI. | ||||||||||||||||||||||||
For the three and six months ended June 30, 2014, the Company recognized non-credit OTTI in earnings of $685 on available for sale residential nonagency CMO securities with no OTTI recognized on held to maturity securities. These OTTI losses represented additional declines in fair value on securities originally OTTI at December 31, 2013 as a result of regulatory changes created by the Volcker rule, which classifies these investments as covered funds that cannot be held by an insured depository institution. As a result, management cannot assert at June 30, 2014 that the Company has the ability to hold these investments to recovery. There were no OTTI losses recognized on available for sale or held to maturity securities during the three and six months ended June 30, 2013. | ||||||||||||||||||||||||
During the three and six months ended June 30, 2014 and 2013, interest and dividend income on investment securities was comprised of the following: | ||||||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||||
June 30, | June 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Interest income on available for sale securities | $ | 7,972 | $ | 13,420 | $ | 16,777 | $ | 28,285 | ||||||||||||||||
Interest income on held to maturity securities | 855 | 658 | 1,636 | 1,282 | ||||||||||||||||||||
Other interest and dividend income | 991 | 735 | 1,236 | 1,496 | ||||||||||||||||||||
$ | 9,818 | $ | 14,813 | $ | 19,649 | $ | 31,063 | |||||||||||||||||
All investment interest income recognized by the Company during the three and six months ended June 30, 2014 and 2013 was fully taxable. |
Loans_Held_for_Sale_Notes
Loans Held for Sale (Notes) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Loans Held for Sale [Abstract] | ' | |||||||||||||||
Loans Held for Sale [Text Block] | ' | |||||||||||||||
4. Loans Held for Sale | ||||||||||||||||
Loans held for sale as of June 30, 2014 and December 31, 2013, consist of the following: | ||||||||||||||||
June 30, | December 31, | |||||||||||||||
2014 | 2013 | |||||||||||||||
Mortgage warehouse (carried at fair value) | $ | 673,400 | $ | 613,459 | ||||||||||||
Other residential (carried at fair value) | 156,546 | 58,912 | ||||||||||||||
Total loans held for sale carried at fair value | 829,946 | 672,371 | ||||||||||||||
Government insured pool buyouts | 114,751 | 53,823 | ||||||||||||||
Other residential | 759,709 | 8,939 | ||||||||||||||
Commercial and commercial real estate | — | 56,249 | ||||||||||||||
Total loans held for sale carried at lower of cost or market | 874,460 | 119,011 | ||||||||||||||
Total loans held for sale | $ | 1,704,406 | $ | 791,382 | ||||||||||||
The Company typically transfers originated or acquired residential mortgage loans to various financial institutions, government agencies, or government-sponsored enterprises. In addition, the Company enters into loan securitization transactions related to certain conforming and non-conforming residential mortgage loans. In connection with the conforming loan transactions, loans are converted into mortgage-backed securities issued primarily by the Federal Home Loan Mortgage Corporation (FHLMC), the Federal National Mortgage Association (FNMA) and the Government National Mortgage Association (GNMA), and are subsequently sold to third party investors. For non-conforming transactions, the Company either sells whole loans to qualified institutional buyers or the Company’s special purpose wholly-owned subsidiary, EverBank Funding, LLC, issues certificates that are offered and sold to qualified institutional buyers. Typically, the Company accounts for these transfers as sales and either retains or releases the right to service the loans. The Company has elected the fair value option of accounting under U.S. GAAP for certain residential mortgage loans originated within the mortgage warehouse. Electing to use the fair value option of accounting allows a better offset of the changes in the fair values of the loans and the derivative instruments used to economically hedge them without the burden of complying with the requirements for hedge accounting. These loans are initially recorded and carried at fair value, with changes in fair value recognized in gain on sale of loans. Loan origination fees are recorded when earned, and related costs are recognized when incurred. | ||||||||||||||||
In addition, the Company also may be exposed to limited liability related to recourse agreements and repurchase agreements made to its issuers and purchasers, which are included in commitments and contingencies in Note 14. Commitments and contingencies include amounts related to loans sold that the Company may be required to repurchase, or otherwise indemnify or reimburse the investor or insurer for losses incurred, due to material breach of contractual representations and warranties. Refer to Note 14 for the maximum exposure to loss for material breach of contractual representations and warranties. | ||||||||||||||||
Other residential loans held for sale carried at fair value represent preferred jumbo residential mortgage loans that the Company originated with the intent to market and sell in the secondary market either through third party sales or securitizations. The Company has elected the fair value option for these loans to provide a better offset of the changes in the fair values of the loans and the derivative instruments used to economically hedge them without the burden of complying with the requirements for hedge accounting. | ||||||||||||||||
Other residential loans held for sale that are carried at lower of cost or market value represent loans acquired or originated by the Company with the intention to hold these loans for a short duration and subsequently sell in the near term. Commercial and commercial real estate loans held for sale carried at the lower of cost or market represent the portion of certain commercial lines of credit that the Company has the intent to market and sell. | ||||||||||||||||
The following is a summary of cash flows related to transfers accounted for as sales for the three and six months ended June 30, 2014 and 2013: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Proceeds received from agency securitizations | $ | 1,024,948 | $ | 2,688,840 | $ | 2,212,022 | $ | 5,093,450 | ||||||||
Proceeds received from nonsecuritizations sales - residential | 524,874 | 335,426 | 601,261 | 677,308 | ||||||||||||
Proceeds received from nonsecuritizations sales - commercial and commercial real estate | 10,227 | — | 79,255 | — | ||||||||||||
Proceeds received from nonsecuritizations sales | $ | 535,101 | $ | 335,426 | $ | 680,516 | $ | 677,308 | ||||||||
Repurchased loans from agency securitizations | $ | 2,244 | $ | 1,079 | 2,545 | 2,171 | ||||||||||
Repurchased loans from nonagency sales | 2,926 | 4,939 | 4,078 | 10,216 | ||||||||||||
The Company periodically transfers conforming residential GNMA mortgages in exchange for mortgage-backed securities. As of June 30, 2014 and December 31, 2013, the Company retained $112,976 and $50,534, respectively, of these securities backed by the transferred loans and maintained effective control over these pools of transferred assets. Accordingly, the Company did not record these transfers as sales. These transferred assets were recorded in the condensed consolidated balance sheets as loans held for sale. The remaining securities were sold to unrelated third parties and were recorded as sales. | ||||||||||||||||
The gains and losses on the transfers which qualified as sales are recorded on the consolidated statements of income in gain on sale of loans, which includes the gain or loss on sale, change in fair value related to our fair value option loans, and the offsetting hedging positions. | ||||||||||||||||
In connection with these transfers, the Company recorded servicing assets in the amount of $10,552 and $22,104 for the three and six months ended June 30, 2014. All servicing assets are initially recorded at fair value using a Level 3 measurement technique. Refer to Note 7 for information relating to servicing activities and MSR. | ||||||||||||||||
During the three and six months ended June 30, 2014, the Company transferred $12,434 and $38,785 in residential mortgage loans from loans held for sale to loans held for investment at lower of cost or market. During the three and six months ended June 30, 2013, the Company transferred $721,220 and $745,660 in residential mortgage loans held for sale to loans held for investment at lower of cost or market. These transfers occurred as the Company changed its intent to hold these loans for the foreseeable future. A majority of these loans were originated residential preferred jumbo adjustable rate mortgages (ARM) which were intended to be sold in the secondary market at the time of originations, but as a result of changing economic conditions and the Company's capacity and desire to hold these loans on the balance sheet, the Company intends to hold these loans for the foreseeable future and has transferred these loans to the held for investment portfolio. | ||||||||||||||||
During the three and six months ended June 30, 2014, the Company transferred $1,291,105 and $1,432,337 of loans from held for investment to held for sale at lower of cost or market. Of transfers in the first six months of 2014, $343,542 relate to interest only loans sold during the period and $79,075 relate to troubled debt restructurings and non-performing loans sold during the period. These loans were selected for sale due to the increased Federal Deposit Insurance Corporation (FDIC) assessments associated with carrying mortgages deemed "non-traditional mortgages" and non-performing assets. The Company transferred $735,819 of longer duration preferred ARMs due to the decrease in balance sheet capacity as a result of third party loan purchases of $1,685,352 of shorter duration GNMA pool buyouts that were not previously forecasted. In addition, the Company transferred $242,256 of re-performing government insured loans that were eligible to be re-securitized. The Company also transferred $31,645 of commercial loans to help reduce its concentration in a certain segment of its commercial real estate portfolio. During the three and six months ended June 30, 2013, the Company transferred $224,652 and $326,636 of loans held for investment to held for sale at the lower of cost or market. The majority of these loans were government insured pool buyouts initially originated for the held for investment portfolio. These loans were transferred to held for sale as they re-performed and were eligible to be re-securitized into GNMA securities. |
Loans_and_Leases_Held_for_Inve
Loans and Leases Held for Investment, Net (Notes) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Loans and Leases Held for Investment, Net [Abstract] | ' | |||||||||||
Loans and Leases Held for Investment, Net | ' | |||||||||||
5. Loans and Leases Held for Investment, Net | ||||||||||||
Loans and leases held for investment as of June 30, 2014 and December 31, 2013 are comprised of the following: | ||||||||||||
June 30, | December 31, | |||||||||||
2014 | 2013 | |||||||||||
Residential mortgages | $ | 8,402,391 | $ | 7,044,743 | ||||||||
Commercial and commercial real estate | 5,170,369 | 4,812,970 | ||||||||||
Equipment financing receivables | 1,577,525 | 1,237,941 | ||||||||||
Home equity lines | 138,886 | 151,916 | ||||||||||
Consumer and credit card | 5,473 | 5,154 | ||||||||||
Total loans and leases held for investment, net of discounts | 15,294,644 | 13,252,724 | ||||||||||
Allowance for loan and lease losses | (56,728 | ) | (63,690 | ) | ||||||||
Total loans and leases held for investment, net | $ | 15,237,916 | $ | 13,189,034 | ||||||||
As of June 30, 2014 and December 31, 2013, the carrying values presented above include net purchased loan and lease discounts and net deferred loan and lease origination costs as follows: | ||||||||||||
June 30, | December 31, | |||||||||||
2014 | 2013 | |||||||||||
Net purchased loan and lease discounts | $ | 53,134 | $ | 102,416 | ||||||||
Net deferred loan and lease origination costs | 69,849 | 54,107 | ||||||||||
During the six months ended June 30, 2014 the Company's significant purchases included acquisitions of credit impaired residential loans with a recorded investment of $1,724,252 and equipment financing receivables with a recorded investment of $86,042. Please see Note 4 for disclosure of our transfers and sales of financing receivables. | ||||||||||||
Acquired Credit Impaired (ACI) Loans and Leases — At acquisition, the Company estimates the fair value of acquired loans and leases by segregating the portfolio into pools with similar risk characteristics. Fair value estimates for acquired loans and leases require estimates of the amounts and timing of expected future principal, interest and other cash flows. For each pool, the Company uses certain loan and lease information, including outstanding principal balance, probability of default and the estimated loss in the event of default to estimate the expected future cash flows for each loan and lease pool. | ||||||||||||
Acquisition date details of loans and leases acquired with evidence of credit deterioration during the six months ended June 30, 2014 and 2013 are as follows: | ||||||||||||
June 30, | June 30, | |||||||||||
2014 | 2013 | |||||||||||
Contractual payments receivable for acquired loans and leases at acquisition | $ | 2,967,742 | $ | 345,890 | ||||||||
Expected cash flows for acquired loans and leases at acquisition | 1,820,898 | 193,549 | ||||||||||
Basis in acquired loans and leases at acquisition | 1,724,252 | 179,027 | ||||||||||
Information pertaining to the ACI portfolio as of June 30, 2014 and December 31, 2013 is as follows: | ||||||||||||
Residential | Commercial and Commercial Real Estate | Total | ||||||||||
June 30, 2014 | ||||||||||||
Carrying value, net of allowance | $ | 2,140,425 | $ | 276,304 | $ | 2,416,729 | ||||||
Outstanding unpaid principal balance (UPB) | 2,183,758 | 277,579 | 2,461,337 | |||||||||
Allowance for loan and lease losses, beginning of period | 4,925 | 9,834 | 14,759 | |||||||||
Allowance for loan and lease losses, end of period | 4,683 | 8,025 | 12,708 | |||||||||
December 31, 2013 | ||||||||||||
Carrying value, net of allowance | $ | 646,470 | $ | 331,771 | $ | 978,241 | ||||||
Outstanding unpaid principal balance | 696,222 | 339,179 | 1,035,401 | |||||||||
Allowance for loan and lease losses, beginning of year | 5,175 | 16,789 | 21,964 | |||||||||
Allowance for loan and lease losses, end of year | 4,925 | 9,834 | 14,759 | |||||||||
The Company recorded a provision for loan loss of $459 and a reduction of provision for loan loss of $867 for the ACI portfolio for the six months ended June 30, 2014 and 2013, respectively. The adjustments to provision are the result of changes in expected cash flows on ACI loans. | ||||||||||||
The following is a summary of the accretable yield activity for the ACI loans during the six months ended June 30, 2014 and 2013: | ||||||||||||
Residential | Commercial and Commercial Real Estate | Total | ||||||||||
June 30, 2014 | ||||||||||||
Balance, beginning of period | $ | 101,183 | $ | 59,663 | $ | 160,846 | ||||||
Additions | 96,646 | — | 96,646 | |||||||||
Accretion | (26,974 | ) | (10,606 | ) | (37,580 | ) | ||||||
Reclassifications (from) to accretable yield | 9,720 | 22,836 | 32,556 | |||||||||
Balance, end of period | $ | 180,575 | $ | 71,893 | $ | 252,468 | ||||||
June 30, 2013 | ||||||||||||
Balance, beginning of period | 111,868 | 108,540 | 220,408 | |||||||||
Additions | 12,173 | — | 12,173 | |||||||||
Accretion | (18,615 | ) | (17,072 | ) | (35,687 | ) | ||||||
Reclassifications (from) to accretable yield | 5,329 | 25,299 | 30,628 | |||||||||
Balance, end of period | $ | 110,755 | $ | 116,767 | $ | 227,522 | ||||||
Covered Loans and Leases — Covered loans and leases are acquired and recorded at fair value at acquisition, exclusive of the indemnification agreement with former shareholders of Tygris. All loans and leases acquired through the purchase of Tygris are considered covered during the applicable indemnification period. The recorded investment of loans covered under the Tygris indemnification agreement are | ||||||||||||
$12,677 and $24,330 at June 30, 2014 and December 31, 2013, respectively. As of June 30, 2014, the Company does not expect to receive cash payments under this indemnification agreement due to the performance of the underlying loans and leases. |
Allowance_for_Loan_and_Lease_L
Allowance for Loan and Lease Losses (Notes) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Allowance for Loan and Lease Losses [Abstract] | ' | |||||||||||||||||||||||
Allowance for Loan and Lease Losses | ' | |||||||||||||||||||||||
6. Allowance for Loan and Lease Losses | ||||||||||||||||||||||||
Changes in the allowance for loan and lease losses for the three and six months ended June 30, 2014 and 2013 are as follows: | ||||||||||||||||||||||||
Three Months Ended June 30, 2014 | Residential Mortgages | Commercial | Equipment Financing Receivables | Home Equity Lines | Consumer and Credit Card | Total | ||||||||||||||||||
and Commercial Real Estate | ||||||||||||||||||||||||
Balance, beginning of period | $ | 25,401 | $ | 30,267 | $ | 4,312 | $ | 2,920 | $ | 69 | $ | 62,969 | ||||||||||||
Transfers to loans held for sale | (5,049 | ) | — | — | (191 | ) | — | (5,240 | ) | |||||||||||||||
Provision for loan and lease losses | 1,628 | 2,390 | 1,995 | 27 | 83 | 6,123 | ||||||||||||||||||
Charge-offs | (1,810 | ) | (4,714 | ) | (938 | ) | (163 | ) | (20 | ) | (7,645 | ) | ||||||||||||
Recoveries | 251 | — | 196 | 74 | — | 521 | ||||||||||||||||||
Balance, end of period | $ | 20,421 | $ | 27,943 | $ | 5,565 | $ | 2,667 | $ | 132 | $ | 56,728 | ||||||||||||
Three Months Ended June 30, 2013 | ||||||||||||||||||||||||
Balance, beginning of period | $ | 30,185 | $ | 38,535 | $ | 3,590 | $ | 4,582 | $ | 175 | $ | 77,067 | ||||||||||||
Provision for loan and lease losses | 1,654 | (2,422 | ) | 1,218 | (387 | ) | (34 | ) | 29 | |||||||||||||||
Charge-offs | (3,271 | ) | (2,781 | ) | (988 | ) | (627 | ) | (17 | ) | (7,684 | ) | ||||||||||||
Recoveries | 117 | 3,549 | 253 | 120 | 18 | 4,057 | ||||||||||||||||||
Balance, end of period | $ | 28,685 | $ | 36,881 | $ | 4,073 | $ | 3,688 | $ | 142 | $ | 73,469 | ||||||||||||
Six Months Ended June 30, 2014 | Residential Mortgages | Commercial | Equipment Financing Receivables | Home Equity Lines | Consumer and Credit Card | Total | ||||||||||||||||||
and Commercial Real Estate | ||||||||||||||||||||||||
Balance, beginning of period | $ | 26,497 | $ | 29,987 | $ | 4,273 | $ | 2,812 | $ | 121 | $ | 63,690 | ||||||||||||
Transfers to loans held for sale | (5,049 | ) | — | — | (191 | ) | — | (5,240 | ) | |||||||||||||||
Provision for loan and lease losses | 3,131 | 2,674 | 3,033 | 310 | 46 | 9,194 | ||||||||||||||||||
Charge-offs | (4,975 | ) | (4,719 | ) | (2,127 | ) | (479 | ) | (35 | ) | (12,335 | ) | ||||||||||||
Recoveries | 817 | 1 | 386 | 215 | — | 1,419 | ||||||||||||||||||
Balance, end of period | $ | 20,421 | $ | 27,943 | $ | 5,565 | $ | 2,667 | $ | 132 | $ | 56,728 | ||||||||||||
Six Months Ended June 30, 2013 | ||||||||||||||||||||||||
Balance, beginning of period | $ | 33,631 | $ | 39,863 | $ | 3,181 | $ | 5,265 | $ | 162 | $ | 82,102 | ||||||||||||
Provision for loan and lease losses | 3,166 | (2,746 | ) | 2,256 | (710 | ) | (18 | ) | 1,948 | |||||||||||||||
Charge-offs | (8,340 | ) | (4,228 | ) | (1,696 | ) | (1,116 | ) | (37 | ) | (15,417 | ) | ||||||||||||
Recoveries | 228 | 3,992 | 332 | 249 | 35 | 4,836 | ||||||||||||||||||
Balance, end of period | $ | 28,685 | $ | 36,881 | $ | 4,073 | $ | 3,688 | $ | 142 | $ | 73,469 | ||||||||||||
The following tables provide a breakdown of the allowance for loan and lease losses and the recorded investment in loans and leases based on the method for determining the allowance as of June 30, 2014 and December 31, 2013: | ||||||||||||||||||||||||
June 30, 2014 | Individually Evaluated for Impairment | Collectively Evaluated for Impairment | ACI Loans | Total | ||||||||||||||||||||
Allowance for Loan and Lease Losses | ||||||||||||||||||||||||
Residential mortgages | $ | 2,823 | $ | 12,915 | $ | 4,683 | $ | 20,421 | ||||||||||||||||
Commercial and commercial real estate | 1,473 | 18,445 | 8,025 | 27,943 | ||||||||||||||||||||
Equipment financing receivables | — | 5,565 | — | 5,565 | ||||||||||||||||||||
Home equity lines | — | 2,667 | — | 2,667 | ||||||||||||||||||||
Consumer and credit card | — | 132 | — | 132 | ||||||||||||||||||||
Total allowance for loan and lease losses | $ | 4,296 | $ | 39,724 | $ | 12,708 | $ | 56,728 | ||||||||||||||||
Loans and Leases Held for Investment at Recorded Investment | ||||||||||||||||||||||||
Residential mortgages | $ | 15,792 | $ | 6,241,491 | $ | 2,145,108 | $ | 8,402,391 | ||||||||||||||||
Commercial and commercial real estate | 55,806 | 4,830,234 | 284,329 | 5,170,369 | ||||||||||||||||||||
Equipment financing receivables | — | 1,577,525 | — | 1,577,525 | ||||||||||||||||||||
Home equity lines | — | 138,886 | — | 138,886 | ||||||||||||||||||||
Consumer and credit card | — | 5,473 | — | 5,473 | ||||||||||||||||||||
Total loans and leases held for investment | $ | 71,598 | $ | 12,793,609 | $ | 2,429,437 | $ | 15,294,644 | ||||||||||||||||
December 31, 2013 | Individually Evaluated for Impairment | Collectively Evaluated for Impairment | ACI Loans | Total | ||||||||||||||||||||
Allowance for Loan and Lease Losses | ||||||||||||||||||||||||
Residential mortgages | $ | 9,134 | $ | 12,438 | $ | 4,925 | $ | 26,497 | ||||||||||||||||
Commercial and commercial real estate | 248 | 19,905 | 9,834 | 29,987 | ||||||||||||||||||||
Equipment financing receivables | — | 4,273 | — | 4,273 | ||||||||||||||||||||
Home equity lines | — | 2,812 | — | 2,812 | ||||||||||||||||||||
Consumer and credit card | — | 121 | — | 121 | ||||||||||||||||||||
Total allowance for loan and lease losses | $ | 9,382 | $ | 39,549 | $ | 14,759 | $ | 63,690 | ||||||||||||||||
Loans and Leases Held for Investment at Recorded Investment | ||||||||||||||||||||||||
Residential mortgages | $ | 90,472 | $ | 6,302,876 | $ | 651,395 | $ | 7,044,743 | ||||||||||||||||
Commercial and commercial real estate | 22,747 | 4,448,618 | 341,605 | 4,812,970 | ||||||||||||||||||||
Equipment financing receivables | — | 1,237,941 | — | 1,237,941 | ||||||||||||||||||||
Home equity lines | — | 151,916 | — | 151,916 | ||||||||||||||||||||
Consumer and credit card | — | 5,154 | — | 5,154 | ||||||||||||||||||||
Total loans and leases held for investment | $ | 113,219 | $ | 12,146,505 | $ | 993,000 | $ | 13,252,724 | ||||||||||||||||
The Company uses a risk grading matrix to monitor credit quality for commercial and commercial real estate loans. Risk grades are continuously monitored and updated by credit administration personnel based on current information and events. The Company monitors the credit quality of all other loan types based on performing status. | ||||||||||||||||||||||||
The following tables present the recorded investment for loans and leases by credit quality indicator as of June 30, 2014 and December 31, 2013: | ||||||||||||||||||||||||
Non-performing | ||||||||||||||||||||||||
Performing | Accrual | Nonaccrual | Total | |||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Residential mortgages: | ||||||||||||||||||||||||
Residential (1) | $ | 5,190,370 | $ | — | $ | 14,673 | $ | 5,205,043 | ||||||||||||||||
Government insured pool buyouts (2) (3) | 2,636,805 | 560,543 | — | 3,197,348 | ||||||||||||||||||||
Equipment financing receivables | 1,568,879 | — | 8,646 | 1,577,525 | ||||||||||||||||||||
Home equity lines | 136,983 | — | 1,903 | 138,886 | ||||||||||||||||||||
Consumer and credit card | 5,453 | — | 20 | 5,473 | ||||||||||||||||||||
Total | $ | 9,538,490 | $ | 560,543 | $ | 25,242 | $ | 10,124,275 | ||||||||||||||||
Pass | Special Mention | Substandard | Doubtful | Total | ||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Commercial and commercial real estate: | ||||||||||||||||||||||||
Mortgage warehouse finance | $ | 1,310,611 | $ | — | $ | — | $ | — | $ | 1,310,611 | ||||||||||||||
Lender finance | 625,335 | — | — | — | 625,335 | |||||||||||||||||||
Other commercial finance | 79,997 | — | 525 | — | 80,522 | |||||||||||||||||||
Commercial real estate | 2,947,992 | 32,890 | 173,019 | — | 3,153,901 | |||||||||||||||||||
Total commercial and commercial real estate | $ | 4,963,935 | $ | 32,890 | $ | 173,544 | $ | — | $ | 5,170,369 | ||||||||||||||
Non-performing | ||||||||||||||||||||||||
Performing | Accrual | Nonaccrual | Total | |||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Residential mortgages: | ||||||||||||||||||||||||
Residential (1) | $ | 5,096,589 | $ | — | $ | 56,517 | $ | 5,153,106 | ||||||||||||||||
Government insured pool buyouts (2) (3) | 1,219,719 | 671,918 | — | 1,891,637 | ||||||||||||||||||||
Equipment financing receivables | 1,233,414 | — | 4,527 | 1,237,941 | ||||||||||||||||||||
Home equity lines | 148,646 | — | 3,270 | 151,916 | ||||||||||||||||||||
Consumer and credit card | 5,117 | — | 37 | 5,154 | ||||||||||||||||||||
Total | $ | 7,703,485 | $ | 671,918 | $ | 64,351 | $ | 8,439,754 | ||||||||||||||||
Pass | Special Mention | Substandard | Doubtful | Total | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Commercial and commercial real estate: | ||||||||||||||||||||||||
Mortgage warehouse finance | $ | 944,219 | $ | — | $ | — | $ | — | $ | 944,219 | ||||||||||||||
Lender finance | 592,621 | — | — | — | 592,621 | |||||||||||||||||||
Other commercial finance | 84,639 | 135 | 1,106 | — | 85,880 | |||||||||||||||||||
Commercial real estate | 2,989,493 | 34,012 | 166,745 | — | 3,190,250 | |||||||||||||||||||
Total commercial and commercial real estate | $ | 4,610,972 | $ | 34,147 | $ | 167,851 | $ | — | $ | 4,812,970 | ||||||||||||||
-1 | For the periods ended June 30, 2014 and December 31, 2013, performing residential mortgages included $6,135 and $7,879, respectively, of ACI loans greater than 90 days past due and still accruing. | |||||||||||||||||||||||
-2 | For the periods ended June 30, 2014 and December 31, 2013, performing government insured pool buyouts included $1,819,917 and $350,312, respectively, of ACI loans greater than 90 days past due and still accruing. | |||||||||||||||||||||||
-3 | Non-performing government insured pool buyouts represent loans that are 90 days or greater past due but remain on accrual status as the interest earned is insured and thus collectible from the insuring governmental agency. | |||||||||||||||||||||||
The following tables present an aging analysis of the recorded investment for loans and leases by class as of June 30, 2014 and December 31, 2013: | ||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 Days and Greater Past Due | Total Past Due | Current | Total Loans Held for Investment Excluding ACI | |||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Residential mortgages: | ||||||||||||||||||||||||
Residential | $ | 8,578 | $ | 4,315 | $ | 14,673 | $ | 27,566 | $ | 5,118,165 | $ | 5,145,731 | ||||||||||||
Government insured pool buyouts (1) | 65,432 | 46,261 | 560,543 | 672,236 | 439,316 | 1,111,552 | ||||||||||||||||||
Commercial and commercial real estate: | ||||||||||||||||||||||||
Mortgage warehouse finance | — | — | — | — | 1,310,611 | 1,310,611 | ||||||||||||||||||
Lender finance | — | — | — | — | 625,335 | 625,335 | ||||||||||||||||||
Other commercial finance | — | — | — | — | 75,810 | 75,810 | ||||||||||||||||||
Commercial real estate | 1,333 | — | — | 1,333 | 2,872,951 | 2,874,284 | ||||||||||||||||||
Equipment financing receivables | 9,943 | 2,613 | 2,478 | 15,034 | 1,562,491 | 1,577,525 | ||||||||||||||||||
Home equity lines | 1,113 | 856 | 1,903 | 3,872 | 135,014 | 138,886 | ||||||||||||||||||
Consumer and credit card | 47 | 21 | 20 | 88 | 5,385 | 5,473 | ||||||||||||||||||
Total loans and leases held for investment | $ | 86,446 | $ | 54,066 | $ | 579,617 | $ | 720,129 | $ | 12,145,078 | $ | 12,865,207 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Residential mortgages: | ||||||||||||||||||||||||
Residential | $ | 10,145 | $ | 4,683 | $ | 56,517 | $ | 71,345 | $ | 5,011,257 | $ | 5,082,602 | ||||||||||||
Government insured pool buyouts (1) | 90,795 | 55,666 | 671,918 | 818,379 | 492,367 | 1,310,746 | ||||||||||||||||||
Commercial and commercial real estate: | ||||||||||||||||||||||||
Mortgage warehouse finance | — | — | — | — | 944,219 | 944,219 | ||||||||||||||||||
Lender finance | — | — | — | — | 592,621 | 592,621 | ||||||||||||||||||
Other commercial finance | — | 2 | 1,005 | 1,007 | 77,059 | 78,066 | ||||||||||||||||||
Commercial real estate | 2,909 | — | — | 2,909 | 2,853,550 | 2,856,459 | ||||||||||||||||||
Equipment financing receivables | 7,277 | 3,098 | 1,024 | 11,399 | 1,226,542 | 1,237,941 | ||||||||||||||||||
Home equity lines | 2,614 | 396 | 3,270 | 6,280 | 145,636 | 151,916 | ||||||||||||||||||
Consumer and credit card | 23 | 12 | 37 | 72 | 5,082 | 5,154 | ||||||||||||||||||
Total loans and leases held for investment | $ | 113,763 | $ | 63,857 | $ | 733,771 | $ | 911,391 | $ | 11,348,333 | $ | 12,259,724 | ||||||||||||
-1 | Government insured pool buyouts remain on accrual status after 90 days as the interest earned is collectible from the insuring governmental agency. | |||||||||||||||||||||||
Impaired Loans — Impaired loans include loans identified as troubled loans as a result of a borrower’s financial difficulties and other loans on which the accrual of interest income is suspended. The Company continues to collect payments on certain impaired loan balances on which accrual is suspended. | ||||||||||||||||||||||||
The following tables present the unpaid principal balance, the recorded investment and the related allowance for impaired loans as of June 30, 2014 and December 31, 2013: | ||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
Unpaid Principal Balance | Recorded Investment (1) | Related Allowance | Unpaid Principal Balance | Recorded Investment (1) | Related Allowance | |||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||
Residential mortgages: | ||||||||||||||||||||||||
Residential | $ | 11,212 | $ | 10,716 | $ | 2,823 | $ | 67,663 | $ | 64,079 | $ | 9,134 | ||||||||||||
Commercial and commercial real estate: | ||||||||||||||||||||||||
Commercial real estate | 11,734 | 11,707 | 1,473 | 1,161 | 1,172 | 248 | ||||||||||||||||||
Total impaired loans with an allowance recorded | $ | 22,946 | $ | 22,423 | $ | 4,296 | $ | 68,824 | $ | 65,251 | $ | 9,382 | ||||||||||||
Without a related allowance recorded: | ||||||||||||||||||||||||
Residential mortgages: | ||||||||||||||||||||||||
Residential | $ | 6,040 | $ | 5,076 | $ | 34,898 | $ | 26,393 | ||||||||||||||||
Commercial and commercial real estate: | ||||||||||||||||||||||||
Commercial real estate | 44,663 | 44,099 | 23,281 | 21,575 | ||||||||||||||||||||
Total impaired loans without an allowance recorded | $ | 50,703 | $ | 49,175 | $ | 58,179 | $ | 47,968 | ||||||||||||||||
-1 | The primary difference between the unpaid principal balance and recorded investment represents charge offs previously taken. | |||||||||||||||||||||||
The following table presents the average investment and interest income recognized on impaired loans for the three and six months ended June 30, 2014 and 2013: | ||||||||||||||||||||||||
Three Months Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Average Investment | Interest Income Recognized | Average Investment | Interest Income Recognized | |||||||||||||||||||||
With and without a related allowance recorded: | ||||||||||||||||||||||||
Residential mortgages: | ||||||||||||||||||||||||
Residential | $ | 49,516 | $ | 418 | $ | 95,736 | $ | 706 | ||||||||||||||||
Commercial and commercial real estate: | ||||||||||||||||||||||||
Commercial | 1 | — | 4,786 | — | ||||||||||||||||||||
Commercial real estate | 42,967 | 396 | 76,875 | 250 | ||||||||||||||||||||
Total impaired loans | $ | 92,484 | $ | 814 | $ | 177,397 | $ | 956 | ||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Average Investment | Interest Income Recognized | Average Investment | Interest Income Recognized | |||||||||||||||||||||
With and without a related allowance recorded: | ||||||||||||||||||||||||
Residential mortgages: | ||||||||||||||||||||||||
Residential | $ | 63,168 | $ | 1,035 | $ | 95,582 | $ | 1,476 | ||||||||||||||||
Commercial and commercial real estate: | ||||||||||||||||||||||||
Commercial | — | — | 5,544 | 2 | ||||||||||||||||||||
Commercial real estate | 36,227 | 562 | 79,650 | 464 | ||||||||||||||||||||
Total impaired loans | $ | 99,395 | $ | 1,597 | $ | 180,776 | $ | 1,942 | ||||||||||||||||
The following table presents the recorded investment for loans and leases on nonaccrual status by class and loans greater than 90 days past due and still accruing as of June 30, 2014 and December 31, 2013: | ||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
Nonaccrual Status | Greater than 90 Days Past Due and Accruing | Nonaccrual Status | Greater than 90 Days Past Due and Accruing | |||||||||||||||||||||
Residential mortgages: | ||||||||||||||||||||||||
Residential | $ | 14,673 | $ | — | $ | 56,517 | $ | — | ||||||||||||||||
Government insured pool buyouts | — | 560,543 | — | 671,918 | ||||||||||||||||||||
Commercial and commercial real estate: | ||||||||||||||||||||||||
Other commercial finance | — | — | 1,005 | — | ||||||||||||||||||||
Commercial real estate | 42,001 | — | 17,544 | — | ||||||||||||||||||||
Equipment financing receivables | 8,646 | — | 4,527 | — | ||||||||||||||||||||
Home equity lines | 1,903 | — | 3,270 | — | ||||||||||||||||||||
Consumer and credit card | 20 | — | 37 | — | ||||||||||||||||||||
Total non-performing loans and leases | $ | 67,243 | $ | 560,543 | $ | 82,900 | $ | 671,918 | ||||||||||||||||
Troubled Debt Restructurings (TDR) — Modifications considered to be TDRs are individually evaluated for credit loss based on a discounted cash flow model using the loan’s effective interest rate at the time of origination. The discounted cash flow model used in this evaluation is adjusted to reflect the modified loan’s elevated probability of future default based on the Company’s historical redefault rate. These loans are classified as nonaccrual and have been included in the Company’s impaired loan disclosures in the tables above. A loan is considered to redefault when it is 30 days past due. Once a modified loan demonstrates a consistent period of performance under the modified terms, generally six months, the Company returns the loan to an accrual classification. If a modified loan defaults under the terms of the modified agreement, the Company measures the allowance for loan and lease losses based on the fair value of collateral less cost to sell. | ||||||||||||||||||||||||
Modifications made to residential loans during the period included extension of original contractual maturity date, extension of the period of below market rate interest only payments, or contingent reduction of past due interest. Commercial loan modifications made during the period included extension of original contractual maturity date, payment forbearance, reduction of interest rates, or extension of interest only periods. | ||||||||||||||||||||||||
The following is a summary of information relating to modifications considered to be TDRs for the three and six months ended June 30, 2014 and 2013 that remain as of the respective balance sheet dates: | ||||||||||||||||||||||||
Three Months Ended June 30, 2014 | Six Months Ended June 30, 2014 | |||||||||||||||||||||||
Number of | Pre- | Post- | Number of Contracts | Pre-modification Recorded Investment | Post-modification Recorded Investment | |||||||||||||||||||
Contracts | modification | modification | ||||||||||||||||||||||
Recorded | Recorded | |||||||||||||||||||||||
Investment | Investment | |||||||||||||||||||||||
Loan Type: | ||||||||||||||||||||||||
Residential | 3 | $ | 1,217 | $ | 1,218 | 3 | $ | 1,217 | $ | 1,218 | ||||||||||||||
Three Months Ended June 30, 2013 | Six Months Ended June 30, 2013 | |||||||||||||||||||||||
Number of | Pre- | Post- | Number of | Pre- | Post- | |||||||||||||||||||
Contracts | modification | modification | Contracts | modification | modification | |||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | |||||||||||||||||||||
Investment | Investment | Investment | Investment | |||||||||||||||||||||
Loan Type: | ||||||||||||||||||||||||
Residential | 6 | $ | 2,300 | $ | 2,310 | 18 | $ | 7,888 | $ | 7,910 | ||||||||||||||
Commercial real estate | 1 | 1,319 | 1,319 | 2 | 1,695 | 1,695 | ||||||||||||||||||
Total | 7 | $ | 3,619 | $ | 3,629 | 20 | $ | 9,583 | $ | 9,605 | ||||||||||||||
The number of contracts and recorded investment of loans that were modified during the last 12 months and subsequently defaulted during the three and six months ended June 30, 2014 and 2013 are as follows: | ||||||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||||
30-Jun-14 | 30-Jun-14 | |||||||||||||||||||||||
Number of Contracts | Recorded Investment | Number of Contracts | Recorded Investment | |||||||||||||||||||||
Loan Type: | ||||||||||||||||||||||||
Residential | 1 | $ | 684 | 1 | $ | 684 | ||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||||
30-Jun-13 | 30-Jun-13 | |||||||||||||||||||||||
Number of Contracts | Recorded Investment | Number of Contracts | Recorded Investment | |||||||||||||||||||||
Loan Type: | ||||||||||||||||||||||||
Residential | 1 | $ | 187 | 1 | $ | 187 | ||||||||||||||||||
Other commercial finance | 1 | 728 | 1 | 728 | ||||||||||||||||||||
Commercial real estate | 1 | 136 | 1 | 136 | ||||||||||||||||||||
Total | 3 | $ | 1,051 | 3 | $ | 1,051 | ||||||||||||||||||
The recorded investment of TDRs as of June 30, 2014 and December 31, 2013 are summarized as follows: | ||||||||||||||||||||||||
June 30, | December 31, | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Loan Type: | ||||||||||||||||||||||||
Residential mortgages | $ | 15,792 | $ | 90,472 | ||||||||||||||||||||
Commercial and commercial real estate | 8,312 | 8,598 | ||||||||||||||||||||||
Total recorded investment of TDRs | $ | 24,104 | $ | 99,070 | ||||||||||||||||||||
Accrual Status: | ||||||||||||||||||||||||
Current | $ | 12,092 | $ | 73,180 | ||||||||||||||||||||
30-89 days past-due accruing | 4,345 | 3,732 | ||||||||||||||||||||||
90+ days past-due accruing | — | 306 | ||||||||||||||||||||||
Nonaccrual | 7,667 | 21,852 | ||||||||||||||||||||||
Total recorded investment of TDRs | $ | 24,104 | $ | 99,070 | ||||||||||||||||||||
TDRs classified as impaired loans | $ | 24,104 | $ | 99,070 | ||||||||||||||||||||
Valuation allowance on TDRs | 2,859 | 9,134 | ||||||||||||||||||||||
The Company included 75 and 133 loans with net recorded investments of $3,340 and $15,988 in Chapter 7 bankruptcy as TDRs at June 30, 2014 and December 31, 2013. Please see Note 4 for disclosure of the sale of residential TDRs and non-performing assets that resulted in the decrease in the balances reported above. |
Servicing_Activities_and_Mortg
Servicing Activities and Mortgage Servicing Rights (Notes) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Servicing Activities and Mortgage Servicing Rights [Abstract] | ' | |||||||||||||||
Servicing Activities and Mortgage Servicing Rights | ' | |||||||||||||||
7. Servicing Activities and Mortgage Servicing Rights | ||||||||||||||||
A summary of MSR activities for the three and six months ended June 30, 2014 and 2013 is as follows: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Balance, beginning of period | $ | 446,493 | $ | 375,641 | $ | 506,680 | $ | 375,859 | ||||||||
Originated servicing rights capitalized upon sale of loans | 10,552 | 27,491 | 22,104 | 50,992 | ||||||||||||
Acquired servicing rights | — | 63,555 | — | 63,555 | ||||||||||||
Sale of servicing rights | — | — | (55,547 | ) | — | |||||||||||
Amortization | (19,026 | ) | (35,945 | ) | (39,598 | ) | (71,023 | ) | ||||||||
Decrease (increase) in valuation allowance | — | 32,572 | 4,941 | 45,127 | ||||||||||||
Other | (424 | ) | (596 | ) | (985 | ) | (1,792 | ) | ||||||||
Balance, end of period | $ | 437,595 | $ | 462,718 | $ | 437,595 | $ | 462,718 | ||||||||
Valuation allowance: | ||||||||||||||||
Balance, beginning of period | $ | 3,071 | $ | 90,408 | $ | 8,012 | $ | 102,963 | ||||||||
Recoveries | — | (32,572 | ) | (4,941 | ) | (45,127 | ) | |||||||||
Balance, end of period | $ | 3,071 | $ | 57,836 | $ | 3,071 | $ | 57,836 | ||||||||
Components of loan servicing fee income for the three and six months ended June 30, 2014 and 2013 are presented below: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Contractually specified service fees, net | $ | 31,246 | $ | 38,584 | $ | 68,393 | $ | 70,373 | ||||||||
Other ancillary fees | 6,645 | 7,993 | 15,544 | 17,730 | ||||||||||||
Other | 2,526 | 615 | 3,097 | 1,252 | ||||||||||||
$ | 40,417 | $ | 47,192 | $ | 87,034 | $ | 89,355 | |||||||||
Residential | ||||||||||||||||
On March 28, 2014, EverBank received investor approval and recognized the sale of $55,547 in carrying value and $9,945,965 in UPB of servicing rights to Green Tree Servicing LLC (GTS), which transferred in May 2014 and was excluded from the MSR portfolio at June 30, 2014. | ||||||||||||||||
For loans securitized and sold with servicing retained during the three and six months ended June 30, 2014 and 2013, management used the following assumptions to determine the fair value of residential MSR at the date of securitization: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
30-Jun-14 | 30-Jun-14 | |||||||||||||||
Average discount rates | 9.62 | % | — | 10.16% | 9.32 | % | — | 10.16% | ||||||||
Expected prepayment speeds | 11.74 | % | — | 13.76% | 11.73 | % | — | 13.76% | ||||||||
Weighted-average life in years | 6.03 | — | 6.29 | 6.03 | — | 6.41 | ||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
30-Jun-13 | 30-Jun-13 | |||||||||||||||
Average discount rates | 9.61 | % | — | 9.67% | 9.38 | % | — | 9.85% | ||||||||
Expected prepayment speeds | 7.91 | % | — | 14.93% | 7.91 | % | — | 14.93% | ||||||||
Weighted-average life in years | 5.33 | — | 6.91 | 5.33 | — | 6.91 | ||||||||||
At June 30, 2014 and December 31, 2013, the Company estimated the fair value of its capitalized residential MSR to be approximately $442,765 and $528,848, respectively. The carrying value of its residential MSR was $433,047 and $499,973 at June 30, 2014 and December 31, 2013, respectively. The unpaid principal balance below excludes $7,588,000 and $6,677,000 at June 30, 2014 and December 31, 2013, respectively, for residential loans with no related MSR basis. | ||||||||||||||||
The characteristics used in estimating the fair value of the residential MSR portfolio at June 30, 2014 and December 31, 2013 are as follows: | ||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||
Unpaid principal balance | $ | 41,635,000 | $ | 52,816,000 | ||||||||||||
Gross weighted-average coupon | 4.44 | % | 4.46 | % | ||||||||||||
Weighted-average servicing fee | 0.29 | % | 0.29 | % | ||||||||||||
Expected prepayment speed (1) | 11.95 | % | 14.87 | % | ||||||||||||
-1 | The prepayment speed assumptions include a blend of prepayment speeds that are influenced by mortgage interest rates, the current macroeconomic environment and borrower behaviors and may vary over the expected life of the asset. | |||||||||||||||
A sensitivity analysis of the Company’s fair value of residential MSR portfolio to hypothetical adverse changes of 10% and 20% to the weighted-average of certain key assumptions as of June 30, 2014 and December 31, 2013 is presented below. | ||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||
Prepayment Rate | ||||||||||||||||
10% adverse rate change | $ | 19,036 | $ | 22,941 | ||||||||||||
20% adverse rate change | 36,751 | 44,156 | ||||||||||||||
Discount Rate | ||||||||||||||||
10% adverse rate change | 16,273 | 19,303 | ||||||||||||||
20% adverse rate change | 31,417 | 37,294 | ||||||||||||||
In the previous table, the effect of a variation in a specific assumption on the fair value is calculated without changing any other assumptions. This analysis typically cannot be extrapolated because the relationship of a change in one key assumption to the change in the fair value of the Company’s residential mortgage servicing rights usually is not linear. The effect of changing one key assumption will likely result in the change of another key assumption which could impact the sensitivities. | ||||||||||||||||
Commercial | ||||||||||||||||
The carrying value and fair value of our commercial MSR was $4,548 at June 30, 2014. As of December 31, 2013, the carrying value and fair value of our commercial MSR was $6,707. The Company recognized $2,718 and $3,221 of prepayment penalty income in other noninterest income during the three months ended June 30, 2014 and 2013, and $5,348 and $6,396 during the six months ended June 30, 2014 and 2013, respectively, related to serviced loans in the Business Lending Trusts acquired with the Business Property Lending, Inc. acquisition. |
Other_Borrowings_Notes
Other Borrowings (Notes) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Other Borrowings [Abstract] | ' | |||||||
Other Borrowings [Text Block] | ' | |||||||
8. Other Borrowings | ||||||||
Other borrowings at June 30, 2014 and December 31, 2013 are comprised of the following: | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
FHLB advances | $ | 3,773,000 | $ | 2,353,000 | ||||
Notes payable | 24,000 | 24,000 | ||||||
$ | 3,797,000 | $ | 2,377,000 | |||||
Advances from the FHLB at June 30, 2014 and December 31, 2013 are as follows: | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
Fixed-rate advances with a weighted-average interest rate of 1.16% and 1.60%, respectively | $ | 3,723,000 | $ | 2,353,000 | ||||
Overnight advances with a weighted-average floating interest rate of 0.36% and 0.00%, respectively | 50,000 | — | ||||||
$ | 3,773,000 | $ | 2,353,000 | |||||
Contractual maturity dates for FHLB advances at June 30, 2014 are as follows: | ||||||||
2014 | $ | 1,970,000 | ||||||
2015 | 331,000 | |||||||
2016 | 190,000 | |||||||
2017 | 380,000 | |||||||
2018 | 260,000 | |||||||
2019 | 80,000 | |||||||
Thereafter | 562,000 | |||||||
$ | 3,773,000 | |||||||
Interest expense on FHLB advances for the three months ended June 30, 2014 and 2013 was $14,976 and $18,425, respectively. Interest expense on FHLB advances for the six months ended June 30, 2014 and 2013 was $28,344 and $36,256, respectively. |
Income_Taxes_Notes
Income Taxes (Notes) | 6 Months Ended |
Jun. 30, 2014 | |
Income Taxes [Abstract] | ' |
Income Taxes | ' |
9. Income Taxes | |
For the three and six months ended June 30, 2014, the Company’s effective income tax rate of 37.9% for both periods differs from the statutory federal income tax rate primarily due to state income taxes. For the three and six months ended June 30, 2013, the Company's effective income tax rate of 38.2% for both periods differs from the statutory federal income tax rate primarily due to state income taxes. |
ShareBased_Compensation_Notes
Share-Based Compensation (Notes) | 6 Months Ended | ||
Jun. 30, 2014 | |||
Share-based Compensation [Abstract] | ' | ||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||
10. Share-Based Compensation | |||
Option Plans - On March 7, 2014, the Company granted 675,463 options with a fair value per option on the grant date of $6.51. The fair value of each option award was estimated as of the grant date using the Black-Scholes option-pricing model. Significant assumptions used in the Black-Scholes option-pricing model to determine the fair value of stock options are as follows: | |||
Risk-free interest rate | 2.04 | % | |
Expected volatility | 35 | % | |
Expected term (years) | 6.5 | ||
Dividend yield | 0.86 | % | |
The risk-free interest rate is based on the U.S. Treasury constant maturity yield for treasury securities with maturities approximating the expected life of the options granted on the date of grant. The expected option terms were based on the vesting term and contractual term of the options using the simplified approach under GAAP. The Company analyzes a group of publicly-traded peer institutions to determine the expected volatility of its stock. The peer group is assessed for adequacy annually, or as circumstances indicate significant changes to the composition of the peer group are warranted. Volatility for the Company's stock is estimated utilizing the average volatility calculated for the peer group, which is based upon weekly price observations over the estimated term of the options granted. | |||
During the six months ended June 30, 2014, 221,032 options were exercised with a total intrinsic value of $2,785. | |||
Nonvested Stock - The Company issued 268,678 nonvested shares of stock to certain employees as an incentive for continued employment and certain directors in lieu of cash payouts for compensation during the six months ended June 30, 2014. The weighted-average grant date fair value of these shares was $18.14 per share, which is the fair value of the Company's common stock at grant date adjusted for expected dividends as our restricted shares do not accrue dividends. |
Earnings_Per_Share_Notes
Earnings Per Share (Notes) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Earnings Per Share | ' | |||||||||||||||
11. Earnings Per Share | ||||||||||||||||
The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2014 and 2013: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Net income | $ | 34,782 | $ | 45,993 | $ | 66,542 | $ | 85,139 | ||||||||
Less dividends on preferred stock | (2,531 | ) | (2,531 | ) | (5,062 | ) | (5,062 | ) | ||||||||
Net income allocated to common shareholders | $ | 32,251 | $ | 43,462 | $ | 61,480 | $ | 80,077 | ||||||||
(Units in Thousands) | ||||||||||||||||
Average common shares outstanding | 122,840 | 122,281 | 122,763 | 121,934 | ||||||||||||
Common share equivalents: | ||||||||||||||||
Stock options | 2,379 | 1,683 | 2,291 | 1,730 | ||||||||||||
Nonvested stock | 170 | 70 | 151 | 71 | ||||||||||||
Average common shares outstanding, assuming dilution | 125,389 | 124,034 | 125,205 | 123,735 | ||||||||||||
Basic earnings per share | $ | 0.26 | $ | 0.36 | $ | 0.5 | $ | 0.66 | ||||||||
Diluted earnings per share | $ | 0.26 | $ | 0.35 | $ | 0.49 | $ | 0.65 | ||||||||
Certain securities were antidilutive and were therefore excluded from the calculation of diluted earnings per share. Common shares attributed to these antidilutive securities had these securities been exercised or converted as of June 30, 2014 and 2013 are as follows: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Stock Options | 1,297,295 | 3,201,156 | 1,058,285 | 4,673,609 | ||||||||||||
Derivative_Financial_Instrumen
Derivative Financial Instruments (Notes) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Derivative Financial Instruments [Abstract] | ' | |||||||||||||||
Derivative Financial Instruments | ' | |||||||||||||||
12. Derivative Financial Instruments | ||||||||||||||||
The fair values of derivatives are reported in other assets, deposits, or accounts payable and accrued liabilities. The fair values are derived using the valuation techniques described in Note 13. The total notional or contractual amounts and fair values as of June 30, 2014 and December 31, 2013 are as follows: | ||||||||||||||||
Fair Value | ||||||||||||||||
Notional Amount | Asset Derivatives | Liability Derivatives | ||||||||||||||
June 30, 2014 | ||||||||||||||||
Qualifying hedge contracts accounted for under Accounting Standards Codification (ASC) 815, Derivatives and Hedging | ||||||||||||||||
Cash flow hedges: | ||||||||||||||||
Forward interest rate swaps | $ | 53,000 | $ | — | $ | 2,927 | ||||||||||
Derivatives not designated as hedging instruments under ASC 815, Derivatives and Hedging | ||||||||||||||||
Freestanding derivatives: | ||||||||||||||||
Interest rate lock commitments (IRLCs) | 813,921 | 10,617 | 365 | |||||||||||||
Forward and optional forward purchase and sale commitments | 5,364,403 | 1,862 | 10,842 | |||||||||||||
Interest rate swaps and futures | 266,623 | — | 680 | |||||||||||||
Foreign exchange contracts | 758,648 | 8,825 | 1,765 | |||||||||||||
Foreign currency, commodity and metals indexed options | 178,155 | 7,597 | — | |||||||||||||
Options embedded in client deposits | 176,382 | — | 7,530 | |||||||||||||
Indemnification assets | 112,863 | 6,460 | — | |||||||||||||
Total freestanding derivatives | 35,361 | 21,182 | ||||||||||||||
Netting and cash collateral adjustments (1) | (5,749 | ) | (3,884 | ) | ||||||||||||
Total derivatives | $ | 29,612 | $ | 20,225 | ||||||||||||
Fair Value | ||||||||||||||||
Notional Amount | Asset Derivatives | Liability Derivatives | ||||||||||||||
December 31, 2013 | ||||||||||||||||
Qualifying hedge contracts accounted for under ASC 815, Derivatives and Hedging | ||||||||||||||||
Cash flow hedges: | ||||||||||||||||
Forward interest rate swaps | $ | 253,000 | $ | — | $ | 27,897 | ||||||||||
Derivatives not designated as hedging instruments under ASC 815, Derivatives and Hedging | ||||||||||||||||
Freestanding derivatives: | ||||||||||||||||
IRLCs | 590,020 | 896 | 2,566 | |||||||||||||
Forward and optional forward purchase and sale commitments | 1,001,489 | 12,228 | 2,948 | |||||||||||||
Interest rate swaps | 75,239 | — | 347 | |||||||||||||
Foreign exchange contracts | 807,732 | 4,073 | 14,318 | |||||||||||||
Foreign currency, commodity and metals indexed options | 171,405 | 7,719 | — | |||||||||||||
Options embedded in client deposits | 170,176 | — | 7,689 | |||||||||||||
Indemnification assets | 147,897 | 7,531 | — | |||||||||||||
Total freestanding derivatives | 32,447 | 27,868 | ||||||||||||||
Netting and cash collateral adjustments (1) | (4,277 | ) | (40,367 | ) | ||||||||||||
Total derivatives | $ | 28,170 | $ | 15,398 | ||||||||||||
-1 | Amounts represent the effect of legally enforceable master netting agreements that allow the Company to settle positive and negative positions as well as cash collateral and related accrued interest held or placed with the same counterparties. Amounts as of June 30, 2014 and December 31, 2013 include derivative positions netted totaling $1,715 and $1,763, respectively. | |||||||||||||||
Cash Flow Hedges | ||||||||||||||||
As of June 30, 2014, AOCI included $18,731 of deferred pre-tax net losses expected to be reclassified into earnings during the next 12 months for derivative instruments designated as cash flow hedges of forecasted transactions. The Company is hedging its exposure to the variability of future cash flows for forecasted transactions of fixed-rate debt for a maximum of 6 years. | ||||||||||||||||
Freestanding Derivatives | ||||||||||||||||
The following table shows the net gains and losses recognized for the three and six months ended June 30, 2014 and 2013 in the condensed consolidated statements of income related to derivatives not designated as hedging instruments under ASC 815, Derivatives and Hedging. These gains and losses are recognized in noninterest income, except for the indemnification assets which are recognized in general and administrative expense. | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Freestanding derivatives | ||||||||||||||||
Gains (losses) on interest rate contracts (1) | $ | (20,631 | ) | $ | 56,027 | $ | (35,794 | ) | $ | 78,059 | ||||||
Gains (losses) on indemnification assets (2) | (844 | ) | 16 | (1,071 | ) | (161 | ) | |||||||||
Other | (5 | ) | (6 | ) | (15 | ) | (146 | ) | ||||||||
Total | $ | (21,480 | ) | $ | 56,037 | $ | (36,880 | ) | $ | 77,752 | ||||||
-1 | Interest rate contracts include interest rate lock commitments, forward and optional forward purchase and sales commitments, and interest rate swaps and futures. | |||||||||||||||
-2 | Refer to Note 13 for additional information relating to the indemnification asset. | |||||||||||||||
Interest rate contracts are predominantly used as economic hedges of interest rate lock commitments and loans held for sale. Other derivatives are predominantly used as economic hedges of foreign exchange, commodity and metals risk. | ||||||||||||||||
Credit Risk Contingent Features | ||||||||||||||||
Certain of the Company’s derivative instruments contain provisions that require the Company to post collateral when derivatives are in a net liability position. The provisions generally are dependent upon the Company’s credit rating based on certain major credit rating agencies or dollar amounts in a liability position at any given time which exceed specified thresholds, as indicated in the relevant contracts. In these circumstances, the counterparties could demand additional collateral or require termination or replacement of derivative instruments in a net liability position. The aggregate fair value of all derivative instruments with such credit-risk-related contingent features in a net liability position prior to netting on June 30, 2014 and December 31, 2013 was $5,372 and $42,562, respectively. The Company offsets derivative instruments against the rights to reclaim cash collateral or the obligations to return cash collateral in the balance sheet. As of June 30, 2014 and December 31, 2013, $2,169 and $42,130, respectively, in collateral was netted against liability derivative positions subject to master netting agreements. As of June 30, 2014 and December 31, 2013, $35,070 and $6,370, respectively, of collateral was posted for positions not subject to master netting agreements. As of June 30, 2014 and December 31, 2013, $44,025 and $48,500, respectively of collateral was posted for derivatives with credit risk contingent features. | ||||||||||||||||
Counterparty Credit Risk | ||||||||||||||||
The Company is exposed to counterparty credit risk if counterparties to the derivative contracts do not perform as expected. If the counterparty fails to perform, counterparty credit risk equals the amount reported as derivative assets in the balance sheet. The amounts reported as derivative assets are derivative contracts in a gain position, and to the extent subject to master netting arrangements, net of derivatives in a loss position with the same counterparty and cash collateral received. The Company minimizes this risk through obtaining credit approvals, monitoring credit limits, monitoring procedures, and executing master netting arrangements and obtaining collateral, where appropriate. The Company offsets derivative instruments against the rights to reclaim cash collateral or the obligations to return cash collateral in the balance sheet. As of June 30, 2014 and December 31, 2013, $4,034 and $6,040, respectively, in collateral was netted against asset derivative positions subject to master netting agreements. As of June 30, 2014 and December 31, 2013, the Company held $10,820 and $6,040, respectively, in collateral from its counterparties. Counterparty credit risk related to derivatives is considered in determining fair value. |
Fair_Value_Measurements_Notes
Fair Value Measurements (Notes) | 6 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||||
13. Fair Value Measurements | ||||||||||||||||||||
Asset and liability fair value measurements have been categorized based upon the fair value hierarchy described below: | ||||||||||||||||||||
Level 1 – Valuation is based upon quoted market prices for identical instruments in active markets. | ||||||||||||||||||||
Level 2 – Valuation is based upon quoted market prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. | ||||||||||||||||||||
Level 3 – Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect estimates or assumptions that market participants would use in pricing the assets or liabilities. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. | ||||||||||||||||||||
Recurring Fair Value Measurements | ||||||||||||||||||||
As of June 30, 2014 and December 31, 2013, assets and liabilities measured at fair value on a recurring basis, including certain loans held for sale for which the Company has elected the fair value option, are as follows: | ||||||||||||||||||||
Level 1 (1) | Level 2 | Level 3 | Netting | Total | ||||||||||||||||
June 30, 2014 | ||||||||||||||||||||
Financial assets: | ||||||||||||||||||||
Available for sale securities: | ||||||||||||||||||||
Residential CMO securities - nonagency | $ | — | $ | 1,027,352 | $ | — | $ | 1,027,352 | ||||||||||||
Asset-backed securities | — | 1,710 | — | 1,710 | ||||||||||||||||
Other | 379 | 226 | — | 605 | ||||||||||||||||
Total available for sale securities | 379 | 1,029,288 | — | 1,029,667 | ||||||||||||||||
Loans held for sale | — | 673,400 | 156,546 | 829,946 | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||||||
Derivative assets (Note 12) | — | 18,284 | 17,077 | (5,749 | ) | 29,612 | ||||||||||||||
Derivative liabilities (Note 12) | — | 23,744 | 365 | (3,884 | ) | 20,225 | ||||||||||||||
Level 1 | Level 2 | Level 3 | Netting | Total | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Financial assets: | ||||||||||||||||||||
Available for sale securities: | ||||||||||||||||||||
Residential CMO securities - nonagency | $ | — | $ | 1,109,271 | $ | — | $ | 1,109,271 | ||||||||||||
Asset-backed securities | — | 3,086 | — | 3,086 | ||||||||||||||||
Other | 399 | 2,871 | — | 3,270 | ||||||||||||||||
Total available for sale securities | 399 | 1,115,228 | — | 1,115,627 | ||||||||||||||||
Loans held for sale | — | 613,459 | 58,912 | 672,371 | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||||||
Derivative assets (Note 12) | — | 24,020 | 8,427 | (4,277 | ) | 28,170 | ||||||||||||||
Derivative liabilities (Note 12) | — | 53,199 | 2,566 | (40,367 | ) | 15,398 | ||||||||||||||
-1 | Level 1 derivative assets include interest rate swap futures. These futures are settled on a daily basis between the counterparty and the Company, resulting in the Company holding an outstanding notional balance and a zero derivative balance. See Note 12 for additional information regarding the interest rate future. | |||||||||||||||||||
Changes in assets and liabilities measured at Level 3 fair value on a recurring basis for the three and six months ended June 30, 2014 and 2013 are as follows: | ||||||||||||||||||||
Loans Held for Sale (1) | FDIC Clawback Liability (2) | Freestanding Derivatives, net (3) | ||||||||||||||||||
Three Months Ended June 30, 2014 | ||||||||||||||||||||
Balance, beginning of period | $ | 63,705 | $ | — | $ | 7,348 | ||||||||||||||
Issuances | 187,582 | — | 17,775 | |||||||||||||||||
Sales | (87,748 | ) | — | — | ||||||||||||||||
Settlements | (9,443 | ) | — | (28,951 | ) | |||||||||||||||
Gains (losses) included in earnings for the period | 2,450 | — | 20,540 | |||||||||||||||||
Balance, end of period | $ | 156,546 | $ | — | $ | 16,712 | ||||||||||||||
Change in unrealized net gains (losses) included in net income related to assets and liabilities still held as of June 30, 2014 | $ | 1,822 | $ | — | $ | 9,364 | ||||||||||||||
Three Months Ended June 30, 2013 | ||||||||||||||||||||
Balance, beginning of period | $ | — | $ | (52,188 | ) | $ | 15,544 | |||||||||||||
Issuances | 291,288 | — | 91,793 | |||||||||||||||||
Settlements | — | — | (40,259 | ) | ||||||||||||||||
Gains (losses) included in earnings for the period | (3,382 | ) | 3,195 | (74,574 | ) | |||||||||||||||
Balance, end of period | $ | 287,906 | $ | (48,993 | ) | $ | (7,496 | ) | ||||||||||||
Change in unrealized net gains (losses) included in net income related to assets and liabilities still held as of June 30, 2013 | $ | (3,382 | ) | $ | 3,195 | $ | (23,040 | ) | ||||||||||||
Loans Held for Sale (1) | FDIC Clawback Liability (2) | Freestanding Derivatives, net (3) | ||||||||||||||||||
Six Months Ended June 30, 2014 | ||||||||||||||||||||
Balance, beginning of period | $ | 58,912 | $ | — | $ | 5,861 | ||||||||||||||
Issuances | 264,077 | — | 22,914 | |||||||||||||||||
Sales | (143,345 | ) | — | — | ||||||||||||||||
Settlements | (26,888 | ) | — | (35,966 | ) | |||||||||||||||
Gains (losses) included in earnings for the period | 3,790 | — | 23,903 | |||||||||||||||||
Balance, end of period | $ | 156,546 | $ | — | $ | 16,712 | ||||||||||||||
Change in unrealized net gains (losses) included in net income related to assets and liabilities still held as of June 30, 2014 | $ | 1,822 | $ | — | $ | 10,850 | ||||||||||||||
Six Months Ended June 30, 2013 | ||||||||||||||||||||
Balance, beginning of period | $ | — | $ | (50,720 | ) | $ | 9,092 | |||||||||||||
Issuances | 291,288 | — | 91,793 | |||||||||||||||||
Transfers into Level 3 | — | — | 6,628 | |||||||||||||||||
Settlements | — | — | (40,259 | ) | ||||||||||||||||
Gains (losses) included in earnings for the period | (3,382 | ) | 1,727 | (74,750 | ) | |||||||||||||||
Balance, end of period | $ | 287,906 | $ | (48,993 | ) | $ | (7,496 | ) | ||||||||||||
Change in unrealized net gains (losses) included in net income related to assets and liabilities still held as of June 30, 2013 | $ | (3,382 | ) | $ | 1,727 | $ | (23,216 | ) | ||||||||||||
-1 | Net realized and unrealized gains on loans held for sale are included in gain on sale of loans. | |||||||||||||||||||
-2 | Changes in fair value of the Federal Deposit Insurance Corporation (FDIC) clawback liability are recorded in general and administrative expense. | |||||||||||||||||||
-3 | Net realized and unrealized gains (losses) on IRLCs are included in gain on sale of loans. Changes in the fair value of the indemnification assets are recorded in general and administrative expense. | |||||||||||||||||||
The Company monitors the availability of observable market data to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another. In such instances, the Company reports the transfer at the end of the reporting period. | ||||||||||||||||||||
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a recurring basis at June 30, 2014 and December 31, 2013: | ||||||||||||||||||||
Level 3 Fair Value Measurement | Fair Value | Valuation Technique | Unobservable Inputs | Significant Unobservable Input Value | ||||||||||||||||
June 30, 2014 | Min. | Max. | Weighted Avg. | |||||||||||||||||
Indemnification asset | $ | 6,460 | Discounted cash flow | Discount rate | 4.35 | % | - | 4.35% | 4.35% | |||||||||||
Reinstatement rate | 6.54 | % | - | 66.48% | 31.40% | (1) | ||||||||||||||
Loss duration (in months) | 9 | - | 81 | 38 | (1) | |||||||||||||||
Loss severity | (1.90 | )% | - | 13.25% | 6.74% | (1) | ||||||||||||||
IRLCs, net | 10,252 | Discounted cash flow | Loan closing ratio | 0 | % | - | 99.00% | 53.28% | (2) | |||||||||||
Loans held for sale | 156,546 | Discounted cash flow | Cost of funds | 2.4 | % | - | 3.25% | 2.98% | ||||||||||||
Prepayment rate | 5.07 | % | - | 17.03% | 9.15% | |||||||||||||||
Default rate | 0 | % | - | 4.41% | 0.53% | |||||||||||||||
Weighted average life (in years) | 4.75 | - | 10.61 | 7.83 | ||||||||||||||||
Cumulative loss | 0 | % | - | 2.43% | 0.09% | |||||||||||||||
Loss severity | 1.94 | % | - | 30.08% | 12.58% | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Indemnification asset | $ | 7,531 | Discounted cash flow | Discount rate | 4.35 | % | - | 4.35% | 4.35% | |||||||||||
Reinstatement rate | 0 | % | - | 68.98% | 23.61% | (1) | ||||||||||||||
Loss duration (in months) | 9 | - | 100 | 36 | (1) | |||||||||||||||
Loss severity | (4.96 | )% | - | 19.70% | 6.54% | (1) | ||||||||||||||
IRLCs, net | (1,670 | ) | Discounted cash flow | Loan closing ratio | 0 | % | - | 99.00% | 79.74% | (2) | ||||||||||
Loans held for sale | 58,912 | Discounted cash flow | Cost of funds | 2.81 | % | - | 3.75% | 3.45% | ||||||||||||
Prepayment rate | 4.68 | % | - | 14.78% | 7.58% | |||||||||||||||
Default rate | 0 | % | - | 2.25% | 0.18% | |||||||||||||||
Weighted average life (in years) | 5.05 | - | 10.74 | 8.25 | ||||||||||||||||
Cumulative loss | 0 | % | - | 0.61% | 0.04% | |||||||||||||||
Loss severity | 0 | % | - | 27.20% | 19.68% | |||||||||||||||
-1 | The range represents the sum of the highest and lowest values for all tranches that we use in our valuation process. | |||||||||||||||||||
-2 | The range represents the highest and lowest loan closing rates used in the IRLC valuation. The range includes the closing ratio for rate locks unclosed at the end of the period, as well as the closing ratio for loans which have settled during the period. | |||||||||||||||||||
Loans Held for Sale Accounted for under the Fair Value Option | ||||||||||||||||||||
The following table presents information on loans held for sale reported under the fair value option at June 30, 2014 and December 31, 2013: | ||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||
Fair value carrying amount | $ | 829,946 | ||||||||||||||||||
Aggregate unpaid principal balance | 799,081 | |||||||||||||||||||
Fair value carrying amount less aggregate unpaid principal | $ | 30,865 | ||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Fair value carrying amount | $ | 672,371 | ||||||||||||||||||
Aggregate unpaid principal balance | 659,592 | |||||||||||||||||||
Fair value carrying amount less aggregate unpaid principal | $ | 12,779 | ||||||||||||||||||
No loans recorded under the fair value option were on nonaccrual status at June 30, 2014 or December 31, 2013. | ||||||||||||||||||||
Differences between the fair value carrying amount and the aggregate unpaid principal balance include changes in fair value recorded at and subsequent to funding, gains and losses on the related loan commitment prior to funding and premiums or discounts on acquired loans. | ||||||||||||||||||||
The net gains from initial measurement of loans accounted for under the fair value option and subsequent changes in fair value for loans outstanding were $30,517 and $30,857 for the three and six months ended June 30, 2014, respectively, and $26,304 and $87,935 for the three and six months ended June 30, 2013, respectively, and are included in gain on sale of loans. These amounts exclude the impact from offsetting hedging arrangements which are also included in gain on sale of loans in the condensed consolidated statements of income. An immaterial portion of the change in fair value was attributable to changes in instrument-specific credit risk. | ||||||||||||||||||||
Non-recurring Fair Value Measurements | ||||||||||||||||||||
Certain assets and liabilities are measured at fair value on a non-recurring basis and therefore are not included in the tables above. These measurements primarily result from assets carried at the lower of cost or fair value or from impairment of individual assets. Gains and losses disclosed below represent changes in fair value recognized subsequent to initial classification. The change in the MSR value represents a change due to impairment or recoveries on previous write downs. The carrying value of assets measured at fair value on a non-recurring basis and held at June 30, 2014 and December 31, 2013 and related changes in fair value are as follows: | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Loss (Gain) Due to Change in Fair Value | ||||||||||||||||
June 30, 2014 | ||||||||||||||||||||
Collateral-dependent loans | $ | — | $ | — | $ | 11,699 | $ | 11,699 | $ | 1,405 | ||||||||||
Other real estate owned (1) | — | — | 5,159 | 5,159 | 907 | |||||||||||||||
Mortgage servicing rights (2) | — | — | 64,877 | 64,877 | (4,941 | ) | ||||||||||||||
Loans held for sale | — | — | 2,447 | 2,447 | 62 | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Collateral-dependent loans | $ | — | $ | — | $ | 907 | $ | 907 | $ | 248 | ||||||||||
Other real estate owned (1) | — | — | 7,009 | 7,009 | 2,008 | |||||||||||||||
Mortgage servicing rights (2) | — | — | 448,925 | 448,925 | (94,951 | ) | ||||||||||||||
Loans held for sale | — | — | 9,123 | 9,123 | 424 | |||||||||||||||
-1 | Gains and losses resulting from subsequent measurement of OREO are included in the condensed consolidated statements of income as general and administrative expense. OREO is included in other assets in the condensed consolidated balance sheets. | |||||||||||||||||||
-2 | The fair value for mortgage servicing rights represents the value of the strata with impairment or recoveries on previous valuation allowances. | |||||||||||||||||||
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at June 30, 2014 and December 31, 2013: | ||||||||||||||||||||
Level 3 Fair Value Measurement | Fair Value | Valuation Technique | Unobservable Inputs | Significant Unobservable Input Value | ||||||||||||||||
June 30, 2014 | Min. | Max. | Weighted Avg. | |||||||||||||||||
Collateral-dependent loans | $ | 11,699 | Appraised value | Appraised value | NM | - | NM | N/A | (1) | |||||||||||
Other real estate owned | 5,159 | Appraised value | Appraised value | NM | - | NM | N/A | (1) | ||||||||||||
Mortgage servicing rights | 64,877 | Discounted cash flow | Prepayment speed | 16.44 | % | - | 18.19% | 17.07% | (2) | |||||||||||
Discount rate | 9.84 | % | - | 9.87% | 9.85% | (3) | ||||||||||||||
Loans held for sale | 2,447 | Discounted cash flow | Cost of funds | 2.4 | % | - | 3.25% | 2.98% | ||||||||||||
Prepayment rate | 5.07 | % | - | 17.03% | 9.15% | |||||||||||||||
Default rate | 0 | % | - | 4.41% | 0.53% | |||||||||||||||
Weighted average life (in years) | 4.75 | - | 10.61 | 7.83 | ||||||||||||||||
Cumulative loss | 0 | % | - | 2.43% | 0.09% | |||||||||||||||
Loss severity | 1.94 | % | - | 30.08% | 12.58% | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Collateral-dependent loans | $ | 907 | Sales comparison approach | Appraisal value adjustment | 0 | % | - | 47.00% | N/A | (1) | ||||||||||
Other real estate owned | 7,009 | Sales comparison approach | Appraisal value adjustment | 0 | % | - | 82.00% | N/A | (1) | |||||||||||
Mortgage servicing rights | 448,925 | Discounted cash flow | Prepayment speed | 16.5 | % | - | 19.80% | 19.25% | (2) | |||||||||||
Discount rate | 9.2 | % | - | 9.80% | 9.37% | (3) | ||||||||||||||
Loans held for sale | 9,123 | Discounted cash flow | Cost of funds | 2.81 | % | - | 3.75% | 3.45% | ||||||||||||
Prepayment rate | 4.68 | % | - | 14.78% | 7.58% | |||||||||||||||
Default rate | 0 | % | - | 2.25% | 0.18% | |||||||||||||||
Weighted average life (in years) | 5.05 | - | 10.74 | 8.25 | ||||||||||||||||
Cumulative loss | 0 | % | - | 0.61% | 0.04% | |||||||||||||||
Loss severity | 0 | % | - | 27.20% | 19.68% | |||||||||||||||
-1 | NM - Not Meaningful or N/A Not Applicable | |||||||||||||||||||
-2 | The prepayment speed assumptions include a blend of prepayment speeds that are influenced by mortgage interest rates, the current macroeconomic environment and borrower behaviors and may vary over the expected life of the asset. The range represents the highest and lowest values for the strata with recoveries on previous valuation allowances. | |||||||||||||||||||
-3 | The discount rate range represents the highest and lowest values for the MSR strata with recoveries on previous valuation allowances. | |||||||||||||||||||
Disclosures about Fair Value of Financial Instruments | ||||||||||||||||||||
The following table presents the carrying amount, estimated fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of June 30, 2014 and December 31, 2013. This table excludes financial instruments with short-term or no stated maturity, prevailing market rates and limited credit risk, where carrying amounts approximate fair value. For financial assets such as cash and due from banks, interest-bearing deposits in banks, FHLB restricted stock, and other investments, the carrying amount is a reasonable estimate of fair value. For financial liabilities such as noninterest-bearing demand, interest-bearing demand, and savings and money market deposits, the carrying amount is a reasonable estimate of fair value as these liabilities have no stated maturity. | ||||||||||||||||||||
Carrying Amount | Estimated Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||
June 30, 2014 | ||||||||||||||||||||
Financial assets: | ||||||||||||||||||||
Investment securities: | ||||||||||||||||||||
Held to maturity | $ | 118,614 | $ | 120,965 | $ | — | $ | 120,965 | $ | — | ||||||||||
Loans held for sale (1) | 874,460 | 864,743 | — | 848,702 | 16,041 | |||||||||||||||
Loans held for investment (2) | 13,965,944 | $ | 14,053,839 | — | — | 14,053,839 | ||||||||||||||
Financial liabilities: | ||||||||||||||||||||
Time deposits | $ | 4,741,216 | $ | 4,774,218 | $ | — | $ | 4,774,218 | $ | — | ||||||||||
Other borrowings | 3,797,000 | 3,804,576 | — | 3,804,576 | — | |||||||||||||||
Trust preferred securities | 103,750 | 94,310 | — | — | 94,310 | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Financial assets: | ||||||||||||||||||||
Investment securities: | ||||||||||||||||||||
Held to maturity | $ | 107,312 | $ | 107,921 | $ | — | $ | 107,921 | $ | — | ||||||||||
Loans held for sale (1) | 119,011 | 121,092 | — | 49,619 | 71,473 | |||||||||||||||
Loans held for investment (2) | 12,153,835 | 12,266,499 | — | — | 12,266,499 | |||||||||||||||
Financial liabilities: | ||||||||||||||||||||
Time deposits | $ | 3,654,179 | $ | 3,680,868 | $ | — | $ | 3,680,868 | $ | — | ||||||||||
Other borrowings | 2,377,000 | 2,353,858 | — | 2,353,858 | — | |||||||||||||||
Trust preferred securities | 103,750 | 86,220 | — | — | 86,220 | |||||||||||||||
-1 | The carrying value of loans held for sale excludes $829,946 and $672,371 in loans measured at fair value on a recurring basis as of June 30, 2014 and December 31, 2013, respectively. | |||||||||||||||||||
-2 | The carrying value of loans held for investment is net of the allowance for loan loss of $51,163 and $59,417 as of June 30, 2014 and December 31, 2013, respectively. In addition, the carrying values excludes $1,271,972 and $1,035,199 of lease financing receivables within our equipment financing receivables portfolio as of June 30, 2014 and December 31, 2013, respectively. | |||||||||||||||||||
Disclosures about Fair Value of Financial Instruments | ||||||||||||||||||||
Following are descriptions of the valuation methodologies used for assets and liabilities recorded at fair value and for estimating fair value for financial instruments not carried at fair value: | ||||||||||||||||||||
Investment Securities — Fair values are derived from quoted market prices and values from third party pricing services for which management understands the methods used to determine fair value and is able to assess the values. The Company also performs an assessment on the pricing of investment securities received from third party pricing services to ensure that the prices represent a reasonable estimate of fair value. The procedures include, but are not limited to, initial and on-going review of pricing methodologies and trends. The Company has the ability to challenge values and discuss its analysis with the third party pricing service provider in order to ensure that investments are recorded or disclosed at the appropriate fair value. | ||||||||||||||||||||
When the level and volume of trading activity for certain securities has significantly declined and/or when the Company believes that third party pricing may be based in part on forced liquidations or distressed sales, the Company analyzes each security for the appropriate valuation methodology based on a combination of the market approach reflecting third party pricing information and a discounted cash flow approach. In calculating the fair value derived from the income approach, the Company makes certain significant assumptions in addition to those discussed above related to the liquidity risk premium, specific non-performance and default experience in the collateral underlying the security. The values resulting from each approach (i.e., market and income approaches) are weighted to derive the final fair value for each security trading in an inactive market. As of June 30, 2014 and December 31, 2013, management did not make any adjustments to the prices provided by the third party pricing service as a result of illiquid or inactive markets. | ||||||||||||||||||||
Loans Held for Sale — Fair values for loans held for sale valued under the fair value option were derived from quoted market prices or from models using loan characteristics including product type, pricing features and loan maturity dates and economic assumptions including prepayment estimates and discount rates based on prices currently offered in secondary markets for similar loans. Certain conforming residential mortgage loans carried at the lower of cost or market are valued using market observable pricing inputs, which are derived from third party loan sales and securitizations and, therefore, are classified within level 2 of the valuation hierarchy. Fair values for non-conforming residential mortgage loans and commercial and commercial real estate loans carried at lower of cost or market were derived from models using characteristics of the loans including product type, pricing features and loan maturity dates and economic assumptions including prepayment estimates, discount rates and estimated credit losses and, therefore, are classified within level 3 of the valuation hierarchy. The Company estimates the fair value of loans held for sale utilizing a discounted cash flow approach which includes an evaluation of the collateral and underlying loan characteristics, as well as assumptions to determine the discount rate such as credit loss and prepayment forecasts, and servicing costs. In determining the appropriate discount rate, prepayment and credit assumptions, the Company monitors other capital markets activity for similar collateral being traded and/or interest rates currently being offered for similar products. Discussions related to the fair value of these loans held for sale are held between our internal valuation specialists and executive and business unit management to discuss the key assumptions used in arriving at our estimates. Significant increases (decreases) in any of those assumptions in isolation could result in a significantly lower (higher) fair value measurement. | ||||||||||||||||||||
Loans Held for Investment — Fair value of loans held for investment is derived using a discounted cash flow approach which includes an evaluation of the collateral, and underlying loan characteristics. The valuation model uses loan characteristics which includes product type, maturity dates, credit profile of the loans, and the underlying interest rate of the portfolio. This information is input into the valuation models along with various forecast valuation assumptions including credit loss assumptions, servicing cost (if any), prepayment forecasts, and risk adjusted capital to determine the discount rate. These assumptions are derived from internal and third party databases. Noting the valuation is derived from model-based techniques, the Company includes loans held for investment within level 3 of the valuation hierarchy. | ||||||||||||||||||||
Impaired Loans — At the time a loan is considered impaired, it is valued at the lower of cost or fair value. Fair value is determined primarily by using an income, cost, or market approach and is normally provided through appraisals. Impaired loans carried at fair value generally receive specific allocations within the allowance for loan and lease losses. For collateral-dependent loans, fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a level 3 classification of the inputs for determining fair value. For collateral-dependent loans in which a new appraisal is expected in the next quarter, the appraisal is reviewed by an officer and an adjustment is made based on a review of the property, historical changes, and current market rates. Appraisals are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a level 3 fair value classification. Impaired loans are evaluated at least quarterly for additional impairment and adjusted accordingly. | ||||||||||||||||||||
Other Real Estate Owned — Foreclosed assets are carried at the lower of cost or fair value (less estimated costs to sell). Fair value is generally based upon appraisals or independent market prices that are periodically updated subsequent to classification as OREO. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments on commercial properties are usually significant and typically result in a level 3 classification of the inputs for determining fair value. Appraisals for OREO are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of the Company's valuation services group reviews the assumptions and approaches utilized in the appraisal. To assess the reasonableness of the fair value, the Company's valuation services group compares the assumptions to independent data sources such as recent market data or industry-wide statistics. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a level 3 fair value classification. | ||||||||||||||||||||
Mortgage Servicing Rights — Mortgage servicing rights are evaluated for impairment on a quarterly basis. If the carrying amount of an individual stratum exceeds fair value, impairment is recorded on that stratum so that the servicing asset is carried at fair value. In addition, a third-party valuation is obtained quarterly. The servicing portfolio has been valued using all relevant positive and negative cash flows including servicing fees; miscellaneous income and float; costs of servicing; the cost of carry of advances; foreclosure losses; and applying certain prevailing assumptions used in the marketplace. Mortgage servicing rights do not trade in an active, open market with readily observable prices. Due to the nature of the valuation inputs, mortgage servicing rights are classified within level 3 of the valuation hierarchy. The fair value of mortgage servicing rights is determined by using a discounted cash flow model to calculate the present value of estimated future net servicing income. The assumptions are a combination of market and Company specific data. On a quarterly basis, the portfolio management group compares the Company’s estimated fair value of the mortgage servicing rights to a third-party valuation as part of the valuation process. Discussions are held between executive management and the independent third-party to review the key assumptions used by the respective parties in arriving at those estimates, and adjusted as necessary. | ||||||||||||||||||||
Time Deposits — The fair value of fixed-rate certificates of deposit is estimated using quantitative models, including discounted cash flow models that require the use of multiple market inputs including interest rates and spreads to generate continuous yield or pricing curves, and volatility factors. The majority of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third party pricing services. The Company considers the impact of its own credit spreads in the valuation of these liabilities. The credit risk is determined by reference to observable credit spreads in the secondary cash market and therefore are classified within level 2 of the valuation hierarchy. | ||||||||||||||||||||
Other Borrowings — For advances that bear interest at a variable rate, the carrying amount is a reasonable estimate of fair value. For fixed-rate advances and repurchase agreements, fair value is estimated using quantitative discounted cash flow models that require the use of interest rate inputs that are currently offered for fixed-rate advances and repurchase agreements of similar remaining maturities. The majority of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third party pricing services. For hybrid advances, fair value is obtained from an FHLB proprietary model mathematical approximation of the market value of the underlying hedge. The terms of the hedge are similar to the advances and therefore classified as level 2 within the valuation hierarchy. | ||||||||||||||||||||
Trust Preferred Securities — Fair value is estimated using quantitative models, including discounted cash flow models that require the use of multiple market inputs including interest rates and spreads to generate pricing curves. The majority of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third party pricing services. The Company interpolates its own credit spreads in the valuation of these liabilities. Due to the significance of the credit spread in the valuation inputs, trust preferred securities are classified within level 3 of the valuation hierarchy. | ||||||||||||||||||||
Interest Rate Swaps, Forward Interest Rate Swaps and Interest Rate Swap Futures — The fair value of interest rate swaps and forward interest rate swaps are determined by a third party using a derivative valuation model. The inputs used in the valuation model are based on contract terms which primarily include start and end swap dates, swap coupon, interest rate curve and notional amounts, and other standard methodologies which are obtained from similar instruments in active markets and, therefore, are classified within level 2 of the valuation hierarchy. See Note 12 for additional information on cash flow hedges. | ||||||||||||||||||||
The fair value of interest rate swap futures is determined based upon quotes provided by the Chicago Mercantile Exchange on which these instruments are traded. As such quotes represent valuations for identical instruments in active markets they are classified within level 1 of the valuation hierarchy. Such pricing is utilized for both active trading and daily settlement of pricing adjustments on outstanding positions. As these pricing adjustments are settled daily between the exchange and the Company, the result as of the balance sheet date is that the Company holds interest futures with an outstanding notional and a level 1 fair value of zero. | ||||||||||||||||||||
Interest Rate Lock Commitments — Fair values of interest rate lock commitments are derived by using valuation models incorporating current market information or by obtaining market or dealer quotes for instruments with similar characteristics, subject to anticipated loan funding probability or fallout. The significant unobservable inputs used in the fair value measurement of IRLCs is the closing ratio, which represents management's estimate of the percentage of loans currently in a lock position which will ultimately close. The loan closing ratio is largely dependent on the loan processing stage that a loan is currently in and the change in prevailing interest rates from the time of the rate lock through the time the loan closes. The closing ratio is computed by our secondary marketing system using historical data and the ratio is periodically reviewed by the secondary marketing group for reasonableness and therefore IRLCs are classified within level 3 of the valuation hierarchy. Generally, the fair value of an IRLC is positive (negative) if the prevailing interest rate is lower (higher) than the IRLC rate. Therefore, an increase in the loan closing probability (i.e., higher percentage of loans estimated to close) will result in the fair value of the IRLC to increase if in a gain position, or decrease if in a loss position. | ||||||||||||||||||||
Forward and Optional Forward Purchase and Sale Commitments — The fair value of forward and optional forward purchase and sale commitments is determined based upon the difference between the settlement values of the commitments and the quoted market values of the securities, which can be quoted using similar instruments in the active market and therefore are classified within level 2 of the valuation hierarchy. | ||||||||||||||||||||
Foreign Exchange Contracts —Fair values of foreign exchange contracts are based on quoted prices for each foreign currency at the balance sheet date. The quoted prices are for similar instruments and therefore, these contracts are classified as level 2 of the valuation hierarchy. | ||||||||||||||||||||
Options and Options Embedded in Client Deposits—For options and embedded options in client deposits, the fair value is determined by obtaining market or dealer quotes for instruments with similar characteristics in active markets and therefore both options and options embedded in client deposits are classified within level 2 of the valuation hierarchy. | ||||||||||||||||||||
Indemnification Asset —To determine the fair value of the indemnification asset the Company uses a cash flow model to project cash flows for GNMA pool buyouts with and without recourse. The significant unobservable inputs used in the fair value measurement of the indemnification asset are the reinstatement rate, loss severity and duration. Significant increases (decreases) in any of those inputs in isolation could result in a significantly lower (higher) fair value measurement. The reinstatement rate is determined by analyzing historical default activity of similar loans. Loss severity is estimated as the interest rate spread between the note and debenture rate of the government insured loans as well as advance costs that are not reimbursable by the Federal Housing Administration (FHA), which is then extrapolated over the expected duration. Loss severity represents the interest loss severity as a percentage of UPB. Negative loss severity results from the indemnifying party receiving a debenture rate interest from the insuring agency that more than offsets the lower note rate interest payments due from the indemnifying party under the indemnification agreement. As the Company calculates the fair value of the indemnification asset using unobservable inputs the Company classifies the indemnification asset within level 3 of the valuation hierarchy. The Company’s portfolio management group is responsible for analyzing and updating the assumptions and cash flow model of the underlying loans on a quarterly basis, which includes corroboration with historical experience. Counterparty credit risk is taken into account when determining fair value. | ||||||||||||||||||||
See Note 12 for additional information on freestanding derivatives. |
Commitments_and_Contingencies_
Commitments and Contingencies (Notes) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||
Commitments and Contingencies | ' | |||||||||||
14. Commitments and Contingencies | ||||||||||||
Commitments — Commitments to extend credit are agreements to lend to customers in accordance with predetermined contractual provisions. These commitments, predominantly at variable interest rates, are for specific periods or contain termination clauses and may require the payment of a fee. The total amounts of unused commitments do not necessarily represent future credit exposure or cash requirements, as commitments often expire without being drawn upon. | ||||||||||||
In order to meet the needs of its clients, the Company also issues standby letters of credit, which are conditional commitments generally to provide credit support for some creditors in case of default. The credit risk and potential cash requirements involved in issuing standby letters of credit are essentially the same as those involved in extending loan facilities to clients. | ||||||||||||
Unfunded credit extension commitments at June 30, 2014 and December 31, 2013 are as follows: | ||||||||||||
June 30, | December 31, | |||||||||||
2014 | 2013 | |||||||||||
Commercial lines of credit (1) | $ | 1,096,964 | $ | 1,467,894 | ||||||||
Home equity lines of credit | 24,443 | 28,780 | ||||||||||
Credit card lines of credit | 32,823 | 34,627 | ||||||||||
Standby letters of credit | 1,147 | 1,140 | ||||||||||
Total unfunded credit extension commitments | $ | 1,155,377 | $ | 1,532,441 | ||||||||
-1 | Unfunded commercial commitments include $667,225 and $1,075,781 of conditional commitments for which certain requirements must be met in order to obtain an advance under the existing commitment as of June 30, 2014 and December 31, 2013, respectively. Of these commitments, $426,073 and $360,165 were cancellable by the Company at June 30, 2014 and December 31, 2013, respectively. | |||||||||||
The Company enters into floating rate residential loan commitments to lend. There were $181,648 of these commitments outstanding as of June 30, 2014. | ||||||||||||
The Company also has entered into commitments to lend related to loans in the origination pipeline. These commitments represent arrangements to lend funds or provide liquidity subject to specified contractual provisions. | ||||||||||||
The contractual amounts of the Company's commitments to lend in the held for investment origination pipeline at June 30, 2014 and December 31, 2013 are as follows: | ||||||||||||
June 30, | December 31, | |||||||||||
2014 | 2013 | |||||||||||
Residential | $ | 672,767 | $ | 531,642 | ||||||||
Commercial | 545,574 | 208,480 | ||||||||||
Leasing | 284,729 | 168,857 | ||||||||||
Total commitments to lend in the pipeline | $ | 1,503,070 | $ | 908,979 | ||||||||
Standby letters of credit issued by third party entities are used to guarantee the Company's performance under various contracts. At June 30, 2014 and December 31, 2013, the Company had approximately $100,018 and $60,018, respectively, in letters of credit outstanding. | ||||||||||||
EverBank periodically enters into forward-dated borrowing agreements with the FHLB to borrow funds at a fixed rate of interest. Prior to the funding date, EverBank has the right to terminate any of the advances subject to voluntary termination fees. The outstanding forward-dated agreements as of June 30, 2014 are as follows: | ||||||||||||
Agreement Date | Funding Date | Amount | Interest Rate | Maturity Date | ||||||||
Sep-13 | Sep-14 | $ | 50,000 | 2.1 | % | Sep-18 | ||||||
Jan-14 | Nov-14 | 100,000 | 2.91 | % | Feb-21 | |||||||
May-14 | Nov-15 | 20,000 | 2.87 | % | May-21 | |||||||
May-14 | Nov-15 | 60,000 | 3.48 | % | May-24 | |||||||
In the ordinary course of business, the Company enters into commitments to originate residential mortgage loans held for sale at interest rates determined prior to funding. Interest rate lock commitments for loans that the Company intends to sell are considered freestanding derivatives and are recorded at fair value. See Note 12 for information on interest rate lock commitments as they are not included in the table above. | ||||||||||||
The Company also has an agreement with the Jacksonville Jaguars of the National Football League whereby the Company obtained the naming rights to the football stadium in Jacksonville, Florida. Under the agreement, the amount due in 2014, which is the final year of the contract, is $3,647, a 5% increase from the total obligation due in 2013. The Company is obligated to pay $400 during the remainder of 2014. | ||||||||||||
In June 2014 the Company entered into a forward sale commitment for $749,000 of jumbo preferred ARMs to be settled in August 2014. | ||||||||||||
Guarantees — The Company sells and securitizes conventional conforming and federally insured single-family residential mortgage loans predominantly to government-sponsored entities (GSEs), such as Fannie Mae and Freddie Mac. The Company also sells residential mortgage loans, primarily those that do not meet criteria for whole loan sales to GSEs, through whole loan sales to private non-GSE purchasers. In doing so, representations and warranties regarding certain attributes of the loans are made to the GSE or the third-party purchaser. Subsequent to the sale, if it is determined that the loans sold are (1) with respect to the GSEs, in breach of these representations or warranties or (2) with respect to non-GSE purchasers, in material breach of these representations and warranties, the Company generally has an obligation to either: (a) repurchase the loan for the UPB, accrued interest and related advances, (b) indemnify the purchaser or (c) make the purchaser whole for the economic benefits of the loan. From 2004 through June 30, 2014, the Company originated and securitized approximately $61,334,290 of mortgage loans to GSEs and private non-GSE purchasers. A majority of the loans sold to non-GSEs were agency deliverable products that were eventually sold by large aggregators of agency product who eventually securitized and sold to the agencies. | ||||||||||||
In some cases, the Company also has an obligation to repurchase loans in the event of early payment default (EPD) which is typically triggered if a borrower does not make the first several payments due after the loan has been sold to an investor. The Company is subject to EPD provisions on certain jumbo loan products and the community reinvestment loans the Company originates and sells under the State of Florida housing program. The total non-conforming UPB sold subject to early prepayment default protection was $139,700 at June 30, 2014. Total originations of community reinvestment loans sold under the State of Florida housing program were minimal. The reserve for early payment default is limited to 90 days and is estimated based on historical default factors. | ||||||||||||
The Company’s obligations vary based upon the nature of the repurchase demand and the current status of the mortgage loan. The Company establishes reserves for estimated losses inherent in the Company’s origination of mortgage loans. In estimating the accrued liability for loan repurchase and make-whole obligations, the Company estimates probable losses inherent in the population of all loans sold based on trends in claims requests and actual loss severities experienced. The liability includes accruals for probable contingent losses in addition to those identified in the pipeline of repurchase or make-whole requests. There is additional inherent uncertainty in the estimate because the Company historically sold a majority of loans servicing released prior to 2009 and currently does not have servicing performance metrics on a majority of those loans it originated and sold. The estimation process is designed to include amounts based on actual losses experienced from actual repurchase activity. The baseline for the repurchase reserve uses historical loss factors that are applied to loan pools originated in 2003 through June 30, 2014 and sold in years 2004 through June 30, 2014. Loss factors, tracked by year of loss, are calculated using actual losses incurred on repurchase or make-whole arrangements. The historical loss factors experienced are accumulated for each sale vintage (year loan was sold) and are applied to more recent sale vintages to estimate inherent losses not yet realized. The Company’s estimated recourse related to these loans was $26,373 and $20,225 at June 30, 2014 and December 31, 2013, respectively, and is recorded in accounts payable and accrued liabilities. | ||||||||||||
In the ordinary course of its loan servicing activities, the Company routinely initiates actions to foreclose real estate securing serviced loans. For certain serviced loans, there are provisions in which the Company is either obligated to fund foreclosure-related costs or to repurchase loans in default. Additionally, as servicer, the Company could be obligated to repurchase loans from or indemnify GSEs for loans originated by defunct originators. The outstanding principal balance on loans serviced at June 30, 2014 and December 31, 2013, was $49,223,248 and $59,492,239. The amount of estimated recourse recorded in accounts payable and accrued liabilities related to servicing activities at June 30, 2014 and December 31, 2013, was $5,802 and $23,668, respectively. | ||||||||||||
Federal Reserve Requirement — The Federal Reserve Board (FRB) requires certain institutions, including EB, to maintain cash reserves in the form of vault cash and average account balances with the Federal Reserve Bank. The reserve requirement is based on average deposits outstanding and was approximately $140,759 and $149,381 at June 30, 2014 and December 31, 2013, respectively. | ||||||||||||
Legal Actions — On April 13, 2011, each of the Company and EverBank entered into a consent order with the Office of Thrift Supervision (OTS) with respect to EverBank's mortgage foreclosure practices and the Company's oversight of those practices. The Office of the Comptroller of the Currency (OCC) succeeded the OTS with respect to EverBank's consent order, and the Board of Governors of the FRB succeeded the OTS with respect to the Company's consent order. The consent orders require, among other things, that the Company establish a new compliance program for mortgage servicing and foreclosure operations and that the Company ensures that it has dedicated resources for communicating with borrowers, policies and procedures for outsourcing foreclosure or related functions and management information systems that ensure timely delivery of complete and accurate information. The Company was also required to retain an independent firm as part of an "Independent Foreclosure Review" program to conduct a review of residential foreclosure actions that were pending from January 1, 2009 through December 31, 2010 in order to determine whether any borrowers sustained financial injury as a result of any errors, misrepresentations or deficiencies and to provide remediation as appropriate. | ||||||||||||
In August 2013, EverBank reached an agreement with the OCC that would end its participation in the Independent Foreclosure Review program mandated by the April 2011 consent order and replace it with an accelerated remediation process. The agreement included a cash payment of $39,932, which was paid in 2013 by EverBank to a settlement fund, which provides relief to qualified borrowers and approximately $6,344, which was substantially paid in the first quarter of 2014 to organizations certified by the U.S. Department of Housing and Urban Development or other tax-exempt organizations that have as a principal mission providing affordable housing, foreclosure prevention and/or educational assistance to low and moderate income individuals and families. This agreement has not eliminated all of our risks associated with foreclosure-related practices, and it does not protect EverBank from potential individual borrower claims or class action lawsuits, any of which could result in additional expenses. Consistent with the agreement, an amendment to the April 2011 consent order was entered into on October 15, 2013. All terms of the April 2011 consent order that were not explicitly superseded by the amendment remain in effect without modification. | ||||||||||||
In October 2013, EverBank received a letter from the OCC requesting, in connection with the April 2011 consent order, that EverBank provide the OCC with an action plan, along with other mortgage servicers, to identify errors and remediate borrowers serviced by EverBank for the period from January 1, 2011 through the present day, that may have been harmed by the same errors identified in the Independent Foreclosure Review. As of June 30, 2014, EverBank accrued $4,750 for potential future remediation payments to borrowers as a result of the implementation of the action plan. | ||||||||||||
In addition, other government agencies, including state attorneys general and the U.S. Department of Justice, continue to investigate various mortgage related practices of the Company and other major mortgage servicers. The Company continues to cooperate with these investigations. These investigations could result in material fines, penalties, equitable remedies (including requiring default servicing or other process changes), or other enforcement actions, as well as significant legal cost in responding to governmental investigations and additional litigation. The Company has evaluated subsequent events through the date in which financial statements are available to be issued and currently, the Company is unable to estimate any loss that may result from penalties or fines imposed by the OCC or other governmental agencies and hence, no amounts have been accrued. | ||||||||||||
In light of the uncertainties involved in these government proceedings, there is no assurance that the ultimate resolution of these matters will not significantly exceed the reserves currently accrued by the Company. In the ordinary course of business, the Company and its subsidiaries are routinely involved in various claims and legal actions. |
Variable_Interest_Entities_Not
Variable Interest Entities (Notes) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Variable Interest Entities [Abstract] | ' | |||||||||||||||
Variable Interest Entity [Text Block] | ' | |||||||||||||||
15. Variable Interest Entities | ||||||||||||||||
The Company, in the normal course of business, engages in certain activities that involve variable interest entities (VIEs), which are legal entities that lack sufficient equity to finance their activities, or the equity investors of the entities as a group lack any of the characteristics of a controlling interest. The primary beneficiary of a VIE is generally the enterprise that has both the power to direct the activities most significant to the economic performance of the VIE and the obligation to absorb losses or receive benefits that could potentially be significant to the VIE. The Company evaluates its interest in certain entities to determine if these entities meet the definition of a VIE and whether the Company is the primary beneficiary and should consolidate the entity based on the variable interests it held both at inception and when there is a change in circumstances that requires a reconsideration. If the Company is determined to be the primary beneficiary of a VIE, it must account for the VIE as a consolidated subsidiary. If the Company is determined not to be the primary beneficiary of a VIE but holds a variable interest in the entity, such variable interests are accounted for under accounting standards as deemed appropriate. | ||||||||||||||||
Non-consolidated VIEs | ||||||||||||||||
The table below summarizes select information related to variable interests held by the Company at June 30, 2014 and December 31, 2013: | ||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||
Non-consolidated VIEs | Total Assets | Maximum Exposure | Total Assets | Maximum Exposure | ||||||||||||
Loans provided to VIEs | $ | 135,138 | $ | 135,138 | $ | 150,749 | $ | 150,749 | ||||||||
On-balance-sheet securitizations | 112,976 | 112,976 | 50,534 | 50,534 | ||||||||||||
Debt securities | 1,147,902 | 1,147,902 | 1,219,915 | 1,219,915 | ||||||||||||
Loans provided to VIEs | ||||||||||||||||
The Company has provided funding to certain unconsolidated VIEs sponsored by third parties. These VIEs are generally established to finance certain small business loans originated by third parties and are not considered to have significant equity at risk. The entities are primarily funded through the issuance of loans from the Company and a certified development company (CDC). The Company's loan is secured by a first lien. Although the Company retains the servicing rights to the loan, the Company is unable to unilaterally make all decisions necessary to direct the activities that most significantly impact the VIE; therefore, it is not the primary beneficiary. The principal risk to which these entities are exposed is credit risk related to the underlying assets. The loans to these VIEs are included in the Company’s overall analysis of the allowance for loan and lease losses and reserve for unfunded commitments, respectively. The Company does not provide any implicit or explicit liquidity guarantees or principal value guarantees to these VIEs. The Company records these commercial loans on its condensed consolidated balance sheet as loans held for investment. | ||||||||||||||||
On-balance sheet securitizations | ||||||||||||||||
The Company engages in on-balance-sheet securitizations which are securitizations that do not qualify for sales treatment; thus, the assets remain on the Company’s condensed consolidated balance sheet. The Company securitizes mortgage loans generally through a GSE, such as GNMA, FNMA or FHLMC (U.S. agency-sponsored mortgages). Occasionally, the Company will transfer conforming residential mortgages to GNMA in exchange for mortgage-backed securities. The Company maintains effective control over pools of transferred assets that remain unsold at the end of the period. Accordingly, the Company has not recorded these transfers as sales. These transferred assets are recorded in the condensed consolidated balance sheet as loans held for sale. | ||||||||||||||||
Debt securities | ||||||||||||||||
All MBS, CMO and ABS securities owned by the Company are issued through VIEs. The related VIEs were not consolidated, as the Company was not determined to be the primary beneficiary. See Note 3 for information related to debt securities. | ||||||||||||||||
Mortgage securitizations | ||||||||||||||||
The Company provides a variety of mortgage loan products to a diverse customer base. Once originated, the Company often securitizes these loans through the use of VIEs. These VIEs are funded through the issuance of trust certificates backed solely by the transferred assets. These mortgage loan securitizations are non-recourse except in accordance with the Company's standard obligations under representations and warranties. Thereby, the transaction effectively transfers the risk of future credit losses to the purchasers of the securities issued by the trust. The Company generally retains the servicing rights of the transferred assets but does not retain any other interest in the entities. | ||||||||||||||||
As noted above, the Company securitizes mortgage loans through government-sponsored entities or through private label (non-agency sponsored) securitizations. The Company is not the primary beneficiary of its U.S. agency-sponsored mortgage securitizations, because the Company does not have the power to direct the activities of the VIE that most significantly impact the entity’s economic performance. Therefore, the Company does not consolidate these U.S. agency-sponsored mortgage securitizations. Additionally, the Company does not consolidate VIEs of private label securitizations. Although the Company is the servicer of the VIE, the servicing relationship is deemed to be a fiduciary relationship and, therefore, the Company is not deemed to be the primary beneficiary of the entity. Refer to Note 4 for information related to sales of residential mortgage receivables and Note 7 for information related to mortgage servicing rights. |
Segment_Information_Notes
Segment Information (Notes) | 6 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||
Segment Information [Abstract] | ' | |||||||||||||||||||
Segment Information | ' | |||||||||||||||||||
16. Segment Information | ||||||||||||||||||||
During the second quarter of 2014, the Company, completed certain changes to its organizational structure that resulted in the re-classification of the Company's three reportable business segments from Banking and Wealth Management, Mortgage Banking and Corporate Services into Consumer Banking, Commercial Banking, and Corporate Services. See Note 1 on information relating to the amendment of prior period segment information. The Company’s reportable business segments are strategic business units that offer distinctive products and services marketed through different channels. These segments are managed separately because of their marketing and distribution requirements. | ||||||||||||||||||||
The Consumer Banking segment includes consumer deposit services and activities, residential lending and servicing, wealth management, and capital markets. Commercial Banking includes commercial and commercial real estate lending, lender finance, equipment finance and leasing, mortgage warehouse finance and commercial deposits. | ||||||||||||||||||||
The Corporate Services segment provides services to the Consumer Banking and Commercial Banking segments including executive management, technology, legal, human resources, marketing, corporate development, treasury, accounting, finance and other services and transaction-related items. Direct expenses are allocated to the reporting segments. Unallocated expenses are included in Corporate Services. Certain other expenses, including interest expense on trust preferred debt and transaction-related items, are included in the Corporate Services segment. | ||||||||||||||||||||
The chief operating decision maker’s review of each segment’s performance is based on segment income, which is defined as income from operations before income taxes and certain corporate allocations. Additionally, total net revenue is defined as net interest income before provision for loan and lease losses and total noninterest income. | ||||||||||||||||||||
Intersegment revenue among the Company’s business units reflects the results of a funds transfer pricing (FTP) process, which takes into account assets and liabilities with similar interest rate sensitivity and maturity characteristics and reflects the allocation of net interest income related to the Company’s overall asset and liability management activities. This provides for the creation of an economic benchmark, which allows the Company to determine the profitability of the Company’s products and cost centers by calculating profitability spreads between product yields and internal references. However, business segments have some latitude to retain certain interest rate exposures related to client pricing decisions within guidelines. | ||||||||||||||||||||
FTP serves to transfer interest rate risk to the Treasury function through a transfer pricing methodology and cost allocation model. The basis for the allocation of net interest income is a function of the Company’s methodologies and assumptions that management believes are appropriate to accurately reflect business segment results. These factors are subject to change based on changes in current interest rates and market conditions. | ||||||||||||||||||||
The results of each segment are reported on a continuing basis. The following table presents financial information of reportable business segments as of and for the three and six months ended June 30, 2014 and 2013. The eliminations column includes intersegment eliminations required for consolidation purposes. | ||||||||||||||||||||
As of and for the Three Months Ended June 30, 2014 | ||||||||||||||||||||
Consumer Banking | Commercial Banking | Corporate Services | Eliminations | Consolidated | ||||||||||||||||
Net interest income (expense) | $ | 79,994 | $ | 61,780 | $ | (1,583 | ) | $ | — | $ | 140,191 | |||||||||
Total net revenue | 159,674 | 71,082 | (1,297 | ) | — | 229,459 | ||||||||||||||
Intersegment revenue | 15,444 | (15,444 | ) | — | — | — | ||||||||||||||
Depreciation and amortization | 2,321 | 3,707 | 1,955 | — | 7,983 | |||||||||||||||
Income before income taxes | 42,836 | 39,078 | (25,898 | ) | — | 56,016 | ||||||||||||||
Total assets | 12,864,427 | 6,973,288 | 186,630 | (270,525 | ) | 19,753,820 | ||||||||||||||
As of and for the Three Months Ended June 30, 2013 | ||||||||||||||||||||
Consumer Banking | Commercial Banking | Corporate Services | Eliminations | Consolidated | ||||||||||||||||
Net interest income (expense) | $ | 78,354 | $ | 64,437 | $ | (1,574 | ) | $ | — | $ | 141,217 | |||||||||
Total net revenue | 212,374 | (1) | 76,972 | (1,325 | ) | — | 288,021 | |||||||||||||
Intersegment revenue | 14,558 | (14,558 | ) | — | — | — | ||||||||||||||
Depreciation and amortization | 2,654 | 5,782 | 1,785 | — | 10,221 | |||||||||||||||
Income before income taxes | 53,712 | (1) | 45,711 | (24,971 | ) | — | 74,452 | |||||||||||||
Total assets | 12,012,522 | 6,381,921 | 194,395 | (225,966 | ) | 18,362,872 | ||||||||||||||
As of and for the Six Months Ended June 30, 2014 | ||||||||||||||||||||
Consumer Banking | Commercial Banking | Corporate | Eliminations | Consolidated | ||||||||||||||||
Services | ||||||||||||||||||||
Net interest income (expense) | $ | 152,118 | $ | 122,084 | $ | (3,167 | ) | $ | — | $ | 271,035 | |||||||||
Total net revenue | 306,129 | (2) | 141,502 | (2,744 | ) | — | 444,887 | |||||||||||||
Intersegment revenue | 30,697 | (30,697 | ) | — | — | — | ||||||||||||||
Depreciation and amortization | 4,596 | 8,269 | 3,871 | — | 16,736 | |||||||||||||||
Income before income taxes | 75,862 | (2) | 84,215 | (52,916 | ) | — | 107,161 | |||||||||||||
Total assets | 12,864,427 | 6,973,288 | 186,630 | (270,525 | ) | 19,753,820 | ||||||||||||||
As of and for the Six Months Ended June 30, 2013 | ||||||||||||||||||||
Consumer Banking | Commercial Banking | Corporate | Eliminations | Consolidated | ||||||||||||||||
Services | ||||||||||||||||||||
Net interest income (expense) | $ | 156,883 | $ | 131,295 | $ | (3,145 | ) | $ | — | $ | 285,033 | |||||||||
Total net revenue | 411,868 | (1) | 156,015 | (2,737 | ) | — | 565,146 | |||||||||||||
Intersegment revenue | 27,870 | (27,870 | ) | — | — | — | ||||||||||||||
Depreciation and amortization | 5,275 | 11,515 | 3,331 | — | 20,121 | |||||||||||||||
Income before income taxes | 105,513 | (1) | 83,787 | (51,458 | ) | — | 137,842 | |||||||||||||
Total assets | 12,012,522 | 6,381,921 | 194,395 | (225,966 | ) | 18,362,872 | ||||||||||||||
-1 | Segment earnings in the Consumer Banking segment included a $32,572 recovery on the MSR valuation allowance for the three months ended June 30, 2013 and a $45,127 recovery on the MSR valuation allowance for the six months ended June 30, 2013. | |||||||||||||||||||
-2 | Segment earnings in the Consumer Banking segment included a $4,941 recovery on the MSR valuation allowance for the six months ended June 30, 2014. |
Subsequent_Events_Notes
Subsequent Events (Notes) | 6 Months Ended |
Jun. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
17. Subsequent Events | |
On July 3, 2014, the Company entered into an extension to the agreement for the naming rights to the football stadium in Jacksonville, Florida discussed in Note 14. Under the agreement, the Company is obligated to pay a total of $43,057 through February 28, 2025. |
Investment_Securities_Policies
Investment Securities (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Investment Securities [Abstract] | ' |
Other Than Temporary Impairments of Investment Securities [Policy Text Block] | ' |
When certain triggers indicate the likelihood of an other-than-temporary-impairment (OTTI) or the qualitative evaluation performed cannot support the expectation of recovering the entire amortized cost basis of an investment, the Company performs cash flow analyses that project prepayments, default rates and loss severities on the collateral supporting each security. If the net present value of the investment is less than the amortized cost, the difference is recognized in earnings as a credit-related impairment, while the remaining difference between the fair value and the amortized cost is recognized in AOCI. | |
For the three and six months ended June 30, 2014, the Company recognized non-credit OTTI in earnings of $685 on available for sale residential nonagency CMO securities with no OTTI recognized on held to maturity securities. These OTTI losses represented additional declines in fair value on securities originally OTTI at December 31, 2013 as a result of regulatory changes created by the Volcker rule, which classifies these investments as covered funds that cannot be held by an insured depository institution. As a result, management cannot assert at June 30, 2014 that the Company has the ability to hold these investments to recovery. There were no OTTI losses recognized on available for sale or held to maturity securities during the three and six months ended June 30, 2013. |
Loans_and_Leases_Held_for_Inve1
Loans and Leases Held for Investment, Net (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Loans and Leases Held for Investment, Net [Abstract] | ' |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | ' |
Covered Loans and Leases — Covered loans and leases are acquired and recorded at fair value at acquisition, exclusive of the indemnification agreement with former shareholders of Tygris. All loans and leases acquired through the purchase of Tygris are considered covered during the applicable indemnification period. The recorded investment of loans covered under the Tygris indemnification agreement are | |
$12,677 and $24,330 at June 30, 2014 and December 31, 2013, respectively. As of June 30, 2014, the Company does not expect to receive cash payments under this indemnification agreement due to the performance of the underlying loans and leases. |
Allowance_for_Loan_and_Lease_L1
Allowance for Loan and Lease Losses (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Allowance for Loan and Lease Losses [Abstract] | ' |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | ' |
The Company uses a risk grading matrix to monitor credit quality for commercial and commercial real estate loans. Risk grades are continuously monitored and updated by credit administration personnel based on current information and events. The Company monitors the credit quality of all other loan types based on performing status. | |
Government insured pool buyouts remain on accrual status after 90 days as the interest earned is collectible from the insuring governmental agency. | |
Impaired Financing Receivable, Policy [Policy Text Block] | ' |
Impaired loans include loans identified as troubled loans as a result of a borrower’s financial difficulties and other loans on which the accrual of interest income is suspended. The Company continues to collect payments on certain impaired loan balances on which accrual is suspended. | |
Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block] | ' |
Modifications considered to be TDRs are individually evaluated for credit loss based on a discounted cash flow model using the loan’s effective interest rate at the time of origination. The discounted cash flow model used in this evaluation is adjusted to reflect the modified loan’s elevated probability of future default based on the Company’s historical redefault rate. These loans are classified as nonaccrual and have been included in the Company’s impaired loan disclosures in the tables above. A loan is considered to redefault when it is 30 days past due. Once a modified loan demonstrates a consistent period of performance under the modified terms, generally six months, the Company returns the loan to an accrual classification. If a modified loan defaults under the terms of the modified agreement, the Company measures the allowance for loan and lease losses based on the fair value of collateral less cost to sell. | |
Modifications made to residential loans during the period included extension of original contractual maturity date, extension of the period of below market rate interest only payments, or contingent reduction of past due interest. Commercial loan modifications made during the period included extension of original contractual maturity date, payment forbearance, reduction of interest rates, or extension of interest only periods. |
Earnings_Per_Share_Policies
Earnings Per Share (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Earnings Per Share [Abstract] | ' |
Earnings Per Share, Policy [Policy Text Block] | ' |
Certain securities were antidilutive and were therefore excluded from the calculation of diluted earnings per share. |
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Policies) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Derivative Financial Instruments [Abstract] | ' | |||||||||||||||
Derivatives, Policy [Policy Text Block] | ' | |||||||||||||||
The Company is exposed to counterparty credit risk if counterparties to the derivative contracts do not perform as expected. If the counterparty fails to perform, counterparty credit risk equals the amount reported as derivative assets in the balance sheet. The amounts reported as derivative assets are derivative contracts in a gain position, and to the extent subject to master netting arrangements, net of derivatives in a loss position with the same counterparty and cash collateral received. The Company minimizes this risk through obtaining credit approvals, monitoring credit limits, monitoring procedures, and executing master netting arrangements and obtaining collateral, where appropriate. The Company offsets derivative instruments against the rights to reclaim cash collateral or the obligations to return cash collateral in the balance sheet. | ||||||||||||||||
These gains and losses are recognized in noninterest income, except for the indemnification assets which are recognized in general and administrative expense. | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Freestanding derivatives | ||||||||||||||||
Gains (losses) on interest rate contracts (1) | $ | (20,631 | ) | $ | 56,027 | $ | (35,794 | ) | $ | 78,059 | ||||||
Gains (losses) on indemnification assets (2) | (844 | ) | 16 | (1,071 | ) | (161 | ) | |||||||||
Other | (5 | ) | (6 | ) | (15 | ) | (146 | ) | ||||||||
Total | $ | (21,480 | ) | $ | 56,037 | $ | (36,880 | ) | $ | 77,752 | ||||||
Interest rate contracts are predominantly used as economic hedges of interest rate lock commitments and loans held for sale. Other derivatives are predominantly used as economic hedges of foreign exchange, commodity and metals risk. | ||||||||||||||||
Certain of the Company’s derivative instruments contain provisions that require the Company to post collateral when derivatives are in a net liability position. The provisions generally are dependent upon the Company’s credit rating based on certain major credit rating agencies or dollar amounts in a liability position at any given time which exceed specified thresholds, as indicated in the relevant contracts. In these circumstances, the counterparties could demand additional collateral or require termination or replacement of derivative instruments in a net liability position. |
Fair_Value_Measurements_Polici
Fair Value Measurements (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Fair Value Measurements [Abstract] | ' |
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' |
For financial assets such as cash and due from banks, interest-bearing deposits in banks, FHLB restricted stock, and other investments, the carrying amount is a reasonable estimate of fair value. For financial liabilities such as noninterest-bearing demand, interest-bearing demand, and savings and money market deposits, the carrying amount is a reasonable estimate of fair value as these liabilities have no stated maturity. | |
The Company monitors the availability of observable market data to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another. In such instances, the Company reports the transfer at the end of the reporting period. | |
Asset and liability fair value measurements have been categorized based upon the fair value hierarchy described below: | |
Level 1 – Valuation is based upon quoted market prices for identical instruments in active markets. | |
Level 2 – Valuation is based upon quoted market prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. | |
Level 3 – Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect estimates or assumptions that market participants would use in pricing the assets or liabilities. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. |
Commitments_and_Contingencies_1
Commitments and Contingencies (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies, Policy [Policy Text Block] | ' |
Commitments to extend credit are agreements to lend to customers in accordance with predetermined contractual provisions. These commitments, predominantly at variable interest rates, are for specific periods or contain termination clauses and may require the payment of a fee. The total amounts of unused commitments do not necessarily represent future credit exposure or cash requirements, as commitments often expire without being drawn upon. | |
Guarantees, Indemnifications and Warranties Policies [Policy Text Block] | ' |
The Company’s obligations vary based upon the nature of the repurchase demand and the current status of the mortgage loan. The Company establishes reserves for estimated losses inherent in the Company’s origination of mortgage loans. In estimating the accrued liability for loan repurchase and make-whole obligations, the Company estimates probable losses inherent in the population of all loans sold based on trends in claims requests and actual loss severities experienced. The liability includes accruals for probable contingent losses in addition to those identified in the pipeline of repurchase or make-whole requests. There is additional inherent uncertainty in the estimate because the Company historically sold a majority of loans servicing released prior to 2009 and currently does not have servicing performance metrics on a majority of those loans it originated and sold. The estimation process is designed to include amounts based on actual losses experienced from actual repurchase activity. The baseline for the repurchase reserve uses historical loss factors that are applied to loan pools originated in 2003 through June 30, 2014 and sold in years 2004 through June 30, 2014. Loss factors, tracked by year of loss, are calculated using actual losses incurred on repurchase or make-whole arrangements. The historical loss factors experienced are accumulated for each sale vintage (year loan was sold) and are applied to more recent sale vintages to estimate inherent losses not yet realized. |
Variable_Interest_Entities_Pol
Variable Interest Entities (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Variable Interest Entities [Abstract] | ' |
Consolidation, Variable Interest Entity, Policy [Policy Text Block] | ' |
The Company evaluates its interest in certain entities to determine if these entities meet the definition of a VIE and whether the Company is the primary beneficiary and should consolidate the entity based on the variable interests it held both at inception and when there is a change in circumstances that requires a reconsideration. If the Company is determined to be the primary beneficiary of a VIE, it must account for the VIE as a consolidated subsidiary. If the Company is determined not to be the primary beneficiary of a VIE but holds a variable interest in the entity, such variable interests are accounted for under accounting standards as deemed appropriate. |
Segment_Information_Policies
Segment Information (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Segment Information [Abstract] | ' |
Segment Reporting, Policy [Policy Text Block] | ' |
three reportable business segments from Banking and Wealth Management, Mortgage Banking and Corporate Services into Consumer Banking, Commercial Banking, and Corporate Services. See Note 1 on information relating to the amendment of prior period segment information. The Company’s reportable business segments are strategic business units that offer distinctive products and services marketed through different channels. These segments are managed separately because of their marketing and distribution requirements. | |
The Consumer Banking segment includes consumer deposit services and activities, residential lending and servicing, wealth management, and capital markets. Commercial Banking includes commercial and commercial real estate lending, lender finance, equipment finance and leasing, mortgage warehouse finance and commercial deposits. | |
The Corporate Services segment provides services to the Consumer Banking and Commercial Banking segments including executive management, technology, legal, human resources, marketing, corporate development, treasury, accounting, finance and other services and transaction-related items. Direct expenses are allocated to the reporting segments. Unallocated expenses are included in Corporate Services. Certain other expenses, including interest expense on trust preferred debt and transaction-related items, are included in the Corporate Services segment. | |
The chief operating decision maker’s review of each segment’s performance is based on segment income, which is defined as income from operations before income taxes and certain corporate allocations. Additionally, total net revenue is defined as net interest income before provision for loan and lease losses and total noninterest income. | |
Intersegment revenue among the Company’s business units reflects the results of a funds transfer pricing (FTP) process, which takes into account assets and liabilities with similar interest rate sensitivity and maturity characteristics and reflects the allocation of net interest income related to the Company’s overall asset and liability management activities. This provides for the creation of an economic benchmark, which allows the Company to determine the profitability of the Company’s products and cost centers by calculating profitability spreads between product yields and internal references. However, business segments have some latitude to retain certain interest rate exposures related to client pricing decisions within guidelines. | |
FTP serves to transfer interest rate risk to the Treasury function through a transfer pricing methodology and cost allocation model. The basis for the allocation of net interest income is a function of the Company’s methodologies and assumptions that management believes are appropriate to accurately reflect business segment results. These factors are subject to change based on changes in current interest rates and market conditions. |
Organization_and_Basis_of_Pres1
Organization and Basis of Presentation (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Organization and Basis of Presentation [Abstract] | ' | |||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | ' | |||||||
c) Supplemental Cash Flow Information - Noncash investing activities are presented in the following table: | ||||||||
Six Months Ended | ||||||||
June 30, | ||||||||
2014 | 2013 | |||||||
Supplemental Schedules of Noncash Activities: | ||||||||
Loans transferred to foreclosure claims | $ | 185,417 | $ | 318,820 | ||||
Loans transferred from held for sale to held for investment | 38,785 | 745,262 | ||||||
Loans transferred from held for investment to held for sale | 1,432,337 | 326,636 | ||||||
Investment_Securities_Tables
Investment Securities (Tables) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Investment Securities [Abstract] | ' | |||||||||||||||||||||||
Schedule of Available for Sale and Held to Maturity Securities [Table Text Block] | ' | |||||||||||||||||||||||
The amortized cost and fair value of investment securities with gross unrealized gains and losses were as follows as of June 30, 2014 and December 31, 2013: | ||||||||||||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | Carrying Amount | ||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Available for sale: | ||||||||||||||||||||||||
Residential collateralized mortgage obligations (CMO) securities - nonagency | $ | 1,019,143 | $ | 10,878 | $ | 2,669 | $ | 1,027,352 | $ | 1,027,352 | ||||||||||||||
Asset-backed securities (ABS) | 2,140 | — | 430 | 1,710 | 1,710 | |||||||||||||||||||
Other | 289 | 316 | — | 605 | 605 | |||||||||||||||||||
Total available for sale securities | $ | 1,021,572 | $ | 11,194 | $ | 3,099 | $ | 1,029,667 | $ | 1,029,667 | ||||||||||||||
Held to maturity: | ||||||||||||||||||||||||
Residential CMO securities - agency | $ | 35,651 | $ | 1,190 | $ | 1 | $ | 36,840 | $ | 35,651 | ||||||||||||||
Residential mortgage-backed securities (MBS) - agency | 82,963 | 1,617 | 455 | 84,125 | 82,963 | |||||||||||||||||||
Total held to maturity securities | $ | 118,614 | $ | 2,807 | $ | 456 | $ | 120,965 | $ | 118,614 | ||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Available for sale: | ||||||||||||||||||||||||
Residential CMO securities - nonagency | $ | 1,097,293 | $ | 15,253 | $ | 3,275 | $ | 1,109,271 | $ | 1,109,271 | ||||||||||||||
Asset-backed securities | 4,144 | — | 1,058 | 3,086 | 3,086 | |||||||||||||||||||
Other | 2,933 | 337 | — | 3,270 | 3,270 | |||||||||||||||||||
Total available for sale securities | $ | 1,104,370 | $ | 15,590 | $ | 4,333 | $ | 1,115,627 | $ | 1,115,627 | ||||||||||||||
Held to maturity: | ||||||||||||||||||||||||
Residential CMO securities - agency | $ | 41,347 | $ | 1,408 | $ | 5 | $ | 42,750 | $ | 41,347 | ||||||||||||||
Residential MBS - agency | 65,965 | 754 | 1,548 | 65,171 | 65,965 | |||||||||||||||||||
Total held to maturity securities | $ | 107,312 | $ | 2,162 | $ | 1,553 | $ | 107,921 | $ | 107,312 | ||||||||||||||
At June 30, 2014 and December 31, 2013, investment securities with a carrying value of $177,643 and $181,836, respectively, were pledged to secure other borrowings, securities sold under agreements to repurchase, and for other purposes as required or permitted by law. | ||||||||||||||||||||||||
For the three and six months ended June 30, 2014 gross gains of $1,250 were realized on available for sale investments with no gross losses having been realized. For the three and six months ended June 30, 2013, there were no gross gains or gross losses realized on available for sale investments. The cost of investments sold is calculated using the specific identification method. | ||||||||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | |||||||||||||||||||||||
The gross unrealized losses and fair value of the Company’s investments with unrealized losses, aggregated by investment category and the length of time individual securities have been in a continuous unrealized loss position, at June 30, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Greater | Total | ||||||||||||||||||||||
Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
Residential CMO securities - nonagency | $ | 167,182 | $ | 2,224 | $ | 26,864 | $ | 445 | $ | 194,046 | $ | 2,669 | ||||||||||||
Residential CMO securities - agency | — | — | 183 | 1 | 183 | 1 | ||||||||||||||||||
Residential MBS - agency | 4,071 | 103 | 22,399 | 352 | 26,470 | 455 | ||||||||||||||||||
Asset-backed securities | — | — | 1,710 | 430 | 1,710 | 430 | ||||||||||||||||||
Total debt securities | $ | 171,253 | $ | 2,327 | $ | 51,156 | $ | 1,228 | $ | 222,409 | $ | 3,555 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Debt securities: | ||||||||||||||||||||||||
Residential CMO securities - nonagency | $ | 169,829 | $ | 3,012 | $ | 10,932 | $ | 263 | $ | 180,761 | $ | 3,275 | ||||||||||||
Residential CMO securities - agency | 887 | 5 | — | — | 887 | 5 | ||||||||||||||||||
Residential MBS - agency | 54,355 | 1,548 | — | — | 54,355 | 1,548 | ||||||||||||||||||
Asset-backed securities | — | — | 3,086 | 1,058 | 3,086 | 1,058 | ||||||||||||||||||
Total debt securities | $ | 225,071 | $ | 4,565 | $ | 14,018 | $ | 1,321 | $ | 239,089 | $ | 5,886 | ||||||||||||
The Company had unrealized losses at June 30, 2014 and December 31, 2013 on residential CMO securities, residential agency MBS, and ABS. These unrealized losses are primarily attributable to weak market conditions. Based on the nature of the impairment, these unrealized losses are considered temporary. The Company does not intend to sell nor is it more likely than not that it will be required to sell these investments before their anticipated recovery. | ||||||||||||||||||||||||
At June 30, 2014, the Company had 39 debt securities in an unrealized loss position. A total of 23 were in an unrealized loss position for less than 12 months. These 23 securities consisted of 22 residential nonagency CMO securities and one residential agency MBS. The remaining 16 debt securities were in an unrealized loss position for 12 months or longer. These 16 securities consisted of six residential nonagency CMO securities, six residential agency MBS, three ABS, and one residential agency CMO security. Of the $3,555 in unrealized losses, $2,647 relate to debt securities that are rated investment grade with the remainder representing securities for which the Company believes it has both the intent and ability to hold to recovery. | ||||||||||||||||||||||||
At December 31, 2013, the Company had 36 debt securities in an unrealized loss position. A total of 29 were in an unrealized loss position for less than 12 months. These 29 securities consisted of 14 residential nonagency CMO securities, one residential agency CMO security and 14 residential agency MBS. The remaining seven debt securities were in an unrealized loss position for 12 months or longer. These seven securities consisted of three ABS and four nonagency residential CMO securities. Of the $5,886 in unrealized losses, $4,659 relate to debt securities that are rated investment grade with the remainder representing securities for which the Company believes it has both the intent and ability to hold to recovery. | ||||||||||||||||||||||||
Investment Income [Table Text Block] | ' | |||||||||||||||||||||||
During the three and six months ended June 30, 2014 and 2013, interest and dividend income on investment securities was comprised of the following: | ||||||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||||
June 30, | June 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Interest income on available for sale securities | $ | 7,972 | $ | 13,420 | $ | 16,777 | $ | 28,285 | ||||||||||||||||
Interest income on held to maturity securities | 855 | 658 | 1,636 | 1,282 | ||||||||||||||||||||
Other interest and dividend income | 991 | 735 | 1,236 | 1,496 | ||||||||||||||||||||
$ | 9,818 | $ | 14,813 | $ | 19,649 | $ | 31,063 | |||||||||||||||||
Loans_Held_for_Sale_Tables
Loans Held for Sale (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Loans Held for Sale [Abstract] | ' | |||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | |||||||||||||||
Loans held for sale as of June 30, 2014 and December 31, 2013, consist of the following: | ||||||||||||||||
June 30, | December 31, | |||||||||||||||
2014 | 2013 | |||||||||||||||
Mortgage warehouse (carried at fair value) | $ | 673,400 | $ | 613,459 | ||||||||||||
Other residential (carried at fair value) | 156,546 | 58,912 | ||||||||||||||
Total loans held for sale carried at fair value | 829,946 | 672,371 | ||||||||||||||
Government insured pool buyouts | 114,751 | 53,823 | ||||||||||||||
Other residential | 759,709 | 8,939 | ||||||||||||||
Commercial and commercial real estate | — | 56,249 | ||||||||||||||
Total loans held for sale carried at lower of cost or market | 874,460 | 119,011 | ||||||||||||||
Total loans held for sale | $ | 1,704,406 | $ | 791,382 | ||||||||||||
Schedule of Cash Flows Between Transferee and Transferor [Table Text Block] | ' | |||||||||||||||
The following is a summary of cash flows related to transfers accounted for as sales for the three and six months ended June 30, 2014 and 2013: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Proceeds received from agency securitizations | $ | 1,024,948 | $ | 2,688,840 | $ | 2,212,022 | $ | 5,093,450 | ||||||||
Proceeds received from nonsecuritizations sales - residential | 524,874 | 335,426 | 601,261 | 677,308 | ||||||||||||
Proceeds received from nonsecuritizations sales - commercial and commercial real estate | 10,227 | — | 79,255 | — | ||||||||||||
Proceeds received from nonsecuritizations sales | $ | 535,101 | $ | 335,426 | $ | 680,516 | $ | 677,308 | ||||||||
Repurchased loans from agency securitizations | $ | 2,244 | $ | 1,079 | 2,545 | 2,171 | ||||||||||
Repurchased loans from nonagency sales | 2,926 | 4,939 | 4,078 | 10,216 | ||||||||||||
Loans_and_Leases_Held_for_Inve2
Loans and Leases Held for Investment, Net (Tables) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Loans and Leases Held for Investment, Net [Abstract] | ' | |||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | |||||||||||
Loans and leases held for investment as of June 30, 2014 and December 31, 2013 are comprised of the following: | ||||||||||||
June 30, | December 31, | |||||||||||
2014 | 2013 | |||||||||||
Residential mortgages | $ | 8,402,391 | $ | 7,044,743 | ||||||||
Commercial and commercial real estate | 5,170,369 | 4,812,970 | ||||||||||
Equipment financing receivables | 1,577,525 | 1,237,941 | ||||||||||
Home equity lines | 138,886 | 151,916 | ||||||||||
Consumer and credit card | 5,473 | 5,154 | ||||||||||
Total loans and leases held for investment, net of discounts | 15,294,644 | 13,252,724 | ||||||||||
Allowance for loan and lease losses | (56,728 | ) | (63,690 | ) | ||||||||
Total loans and leases held for investment, net | $ | 15,237,916 | $ | 13,189,034 | ||||||||
Net Purchase Loan And Lease Premiums (Discounts)/Net Deferred Loan And Lease Origination Costs (Fees) [Table Text Block] | ' | |||||||||||
As of June 30, 2014 and December 31, 2013, the carrying values presented above include net purchased loan and lease discounts and net deferred loan and lease origination costs as follows: | ||||||||||||
June 30, | December 31, | |||||||||||
2014 | 2013 | |||||||||||
Net purchased loan and lease discounts | $ | 53,134 | $ | 102,416 | ||||||||
Net deferred loan and lease origination costs | 69,849 | 54,107 | ||||||||||
Acquired Portfolio of Loans/Leases with Evidence of Credit Deterioration [Table Text Block] | ' | |||||||||||
Information pertaining to the ACI portfolio as of June 30, 2014 and December 31, 2013 is as follows: | ||||||||||||
Residential | Commercial and Commercial Real Estate | Total | ||||||||||
June 30, 2014 | ||||||||||||
Carrying value, net of allowance | $ | 2,140,425 | $ | 276,304 | $ | 2,416,729 | ||||||
Outstanding unpaid principal balance (UPB) | 2,183,758 | 277,579 | 2,461,337 | |||||||||
Allowance for loan and lease losses, beginning of period | 4,925 | 9,834 | 14,759 | |||||||||
Allowance for loan and lease losses, end of period | 4,683 | 8,025 | 12,708 | |||||||||
December 31, 2013 | ||||||||||||
Carrying value, net of allowance | $ | 646,470 | $ | 331,771 | $ | 978,241 | ||||||
Outstanding unpaid principal balance | 696,222 | 339,179 | 1,035,401 | |||||||||
Allowance for loan and lease losses, beginning of year | 5,175 | 16,789 | 21,964 | |||||||||
Allowance for loan and lease losses, end of year | 4,925 | 9,834 | 14,759 | |||||||||
Acquisition date details of loans and leases acquired with evidence of credit deterioration during the six months ended June 30, 2014 and 2013 are as follows: | ||||||||||||
June 30, | June 30, | |||||||||||
2014 | 2013 | |||||||||||
Contractual payments receivable for acquired loans and leases at acquisition | $ | 2,967,742 | $ | 345,890 | ||||||||
Expected cash flows for acquired loans and leases at acquisition | 1,820,898 | 193,549 | ||||||||||
Basis in acquired loans and leases at acquisition | 1,724,252 | 179,027 | ||||||||||
Schedule of Changes in Accretable Yields of Acquired Loans [Table Text Block] | ' | |||||||||||
The following is a summary of the accretable yield activity for the ACI loans during the six months ended June 30, 2014 and 2013: | ||||||||||||
Residential | Commercial and Commercial Real Estate | Total | ||||||||||
June 30, 2014 | ||||||||||||
Balance, beginning of period | $ | 101,183 | $ | 59,663 | $ | 160,846 | ||||||
Additions | 96,646 | — | 96,646 | |||||||||
Accretion | (26,974 | ) | (10,606 | ) | (37,580 | ) | ||||||
Reclassifications (from) to accretable yield | 9,720 | 22,836 | 32,556 | |||||||||
Balance, end of period | $ | 180,575 | $ | 71,893 | $ | 252,468 | ||||||
June 30, 2013 | ||||||||||||
Balance, beginning of period | 111,868 | 108,540 | 220,408 | |||||||||
Additions | 12,173 | — | 12,173 | |||||||||
Accretion | (18,615 | ) | (17,072 | ) | (35,687 | ) | ||||||
Reclassifications (from) to accretable yield | 5,329 | 25,299 | 30,628 | |||||||||
Balance, end of period | $ | 110,755 | $ | 116,767 | $ | 227,522 | ||||||
Allowance_for_Loan_and_Lease_L2
Allowance for Loan and Lease Losses (Tables) | 6 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Allowance for Loan and Lease Losses [Abstract] | ' | |||||||||||||||||||||||
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] | ' | |||||||||||||||||||||||
Changes in the allowance for loan and lease losses for the three and six months ended June 30, 2014 and 2013 are as follows: | ||||||||||||||||||||||||
Three Months Ended June 30, 2014 | Residential Mortgages | Commercial | Equipment Financing Receivables | Home Equity Lines | Consumer and Credit Card | Total | ||||||||||||||||||
and Commercial Real Estate | ||||||||||||||||||||||||
Balance, beginning of period | $ | 25,401 | $ | 30,267 | $ | 4,312 | $ | 2,920 | $ | 69 | $ | 62,969 | ||||||||||||
Transfers to loans held for sale | (5,049 | ) | — | — | (191 | ) | — | (5,240 | ) | |||||||||||||||
Provision for loan and lease losses | 1,628 | 2,390 | 1,995 | 27 | 83 | 6,123 | ||||||||||||||||||
Charge-offs | (1,810 | ) | (4,714 | ) | (938 | ) | (163 | ) | (20 | ) | (7,645 | ) | ||||||||||||
Recoveries | 251 | — | 196 | 74 | — | 521 | ||||||||||||||||||
Balance, end of period | $ | 20,421 | $ | 27,943 | $ | 5,565 | $ | 2,667 | $ | 132 | $ | 56,728 | ||||||||||||
Three Months Ended June 30, 2013 | ||||||||||||||||||||||||
Balance, beginning of period | $ | 30,185 | $ | 38,535 | $ | 3,590 | $ | 4,582 | $ | 175 | $ | 77,067 | ||||||||||||
Provision for loan and lease losses | 1,654 | (2,422 | ) | 1,218 | (387 | ) | (34 | ) | 29 | |||||||||||||||
Charge-offs | (3,271 | ) | (2,781 | ) | (988 | ) | (627 | ) | (17 | ) | (7,684 | ) | ||||||||||||
Recoveries | 117 | 3,549 | 253 | 120 | 18 | 4,057 | ||||||||||||||||||
Balance, end of period | $ | 28,685 | $ | 36,881 | $ | 4,073 | $ | 3,688 | $ | 142 | $ | 73,469 | ||||||||||||
Six Months Ended June 30, 2014 | Residential Mortgages | Commercial | Equipment Financing Receivables | Home Equity Lines | Consumer and Credit Card | Total | ||||||||||||||||||
and Commercial Real Estate | ||||||||||||||||||||||||
Balance, beginning of period | $ | 26,497 | $ | 29,987 | $ | 4,273 | $ | 2,812 | $ | 121 | $ | 63,690 | ||||||||||||
Transfers to loans held for sale | (5,049 | ) | — | — | (191 | ) | — | (5,240 | ) | |||||||||||||||
Provision for loan and lease losses | 3,131 | 2,674 | 3,033 | 310 | 46 | 9,194 | ||||||||||||||||||
Charge-offs | (4,975 | ) | (4,719 | ) | (2,127 | ) | (479 | ) | (35 | ) | (12,335 | ) | ||||||||||||
Recoveries | 817 | 1 | 386 | 215 | — | 1,419 | ||||||||||||||||||
Balance, end of period | $ | 20,421 | $ | 27,943 | $ | 5,565 | $ | 2,667 | $ | 132 | $ | 56,728 | ||||||||||||
Six Months Ended June 30, 2013 | ||||||||||||||||||||||||
Balance, beginning of period | $ | 33,631 | $ | 39,863 | $ | 3,181 | $ | 5,265 | $ | 162 | $ | 82,102 | ||||||||||||
Provision for loan and lease losses | 3,166 | (2,746 | ) | 2,256 | (710 | ) | (18 | ) | 1,948 | |||||||||||||||
Charge-offs | (8,340 | ) | (4,228 | ) | (1,696 | ) | (1,116 | ) | (37 | ) | (15,417 | ) | ||||||||||||
Recoveries | 228 | 3,992 | 332 | 249 | 35 | 4,836 | ||||||||||||||||||
Balance, end of period | $ | 28,685 | $ | 36,881 | $ | 4,073 | $ | 3,688 | $ | 142 | $ | 73,469 | ||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||
The following tables provide a breakdown of the allowance for loan and lease losses and the recorded investment in loans and leases based on the method for determining the allowance as of June 30, 2014 and December 31, 2013: | ||||||||||||||||||||||||
June 30, 2014 | Individually Evaluated for Impairment | Collectively Evaluated for Impairment | ACI Loans | Total | ||||||||||||||||||||
Allowance for Loan and Lease Losses | ||||||||||||||||||||||||
Residential mortgages | $ | 2,823 | $ | 12,915 | $ | 4,683 | $ | 20,421 | ||||||||||||||||
Commercial and commercial real estate | 1,473 | 18,445 | 8,025 | 27,943 | ||||||||||||||||||||
Equipment financing receivables | — | 5,565 | — | 5,565 | ||||||||||||||||||||
Home equity lines | — | 2,667 | — | 2,667 | ||||||||||||||||||||
Consumer and credit card | — | 132 | — | 132 | ||||||||||||||||||||
Total allowance for loan and lease losses | $ | 4,296 | $ | 39,724 | $ | 12,708 | $ | 56,728 | ||||||||||||||||
Loans and Leases Held for Investment at Recorded Investment | ||||||||||||||||||||||||
Residential mortgages | $ | 15,792 | $ | 6,241,491 | $ | 2,145,108 | $ | 8,402,391 | ||||||||||||||||
Commercial and commercial real estate | 55,806 | 4,830,234 | 284,329 | 5,170,369 | ||||||||||||||||||||
Equipment financing receivables | — | 1,577,525 | — | 1,577,525 | ||||||||||||||||||||
Home equity lines | — | 138,886 | — | 138,886 | ||||||||||||||||||||
Consumer and credit card | — | 5,473 | — | 5,473 | ||||||||||||||||||||
Total loans and leases held for investment | $ | 71,598 | $ | 12,793,609 | $ | 2,429,437 | $ | 15,294,644 | ||||||||||||||||
December 31, 2013 | Individually Evaluated for Impairment | Collectively Evaluated for Impairment | ACI Loans | Total | ||||||||||||||||||||
Allowance for Loan and Lease Losses | ||||||||||||||||||||||||
Residential mortgages | $ | 9,134 | $ | 12,438 | $ | 4,925 | $ | 26,497 | ||||||||||||||||
Commercial and commercial real estate | 248 | 19,905 | 9,834 | 29,987 | ||||||||||||||||||||
Equipment financing receivables | — | 4,273 | — | 4,273 | ||||||||||||||||||||
Home equity lines | — | 2,812 | — | 2,812 | ||||||||||||||||||||
Consumer and credit card | — | 121 | — | 121 | ||||||||||||||||||||
Total allowance for loan and lease losses | $ | 9,382 | $ | 39,549 | $ | 14,759 | $ | 63,690 | ||||||||||||||||
Loans and Leases Held for Investment at Recorded Investment | ||||||||||||||||||||||||
Residential mortgages | $ | 90,472 | $ | 6,302,876 | $ | 651,395 | $ | 7,044,743 | ||||||||||||||||
Commercial and commercial real estate | 22,747 | 4,448,618 | 341,605 | 4,812,970 | ||||||||||||||||||||
Equipment financing receivables | — | 1,237,941 | — | 1,237,941 | ||||||||||||||||||||
Home equity lines | — | 151,916 | — | 151,916 | ||||||||||||||||||||
Consumer and credit card | — | 5,154 | — | 5,154 | ||||||||||||||||||||
Total loans and leases held for investment | $ | 113,219 | $ | 12,146,505 | $ | 993,000 | $ | 13,252,724 | ||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | |||||||||||||||||||||||
The following tables present the recorded investment for loans and leases by credit quality indicator as of June 30, 2014 and December 31, 2013: | ||||||||||||||||||||||||
Non-performing | ||||||||||||||||||||||||
Performing | Accrual | Nonaccrual | Total | |||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Residential mortgages: | ||||||||||||||||||||||||
Residential (1) | $ | 5,190,370 | $ | — | $ | 14,673 | $ | 5,205,043 | ||||||||||||||||
Government insured pool buyouts (2) (3) | 2,636,805 | 560,543 | — | 3,197,348 | ||||||||||||||||||||
Equipment financing receivables | 1,568,879 | — | 8,646 | 1,577,525 | ||||||||||||||||||||
Home equity lines | 136,983 | — | 1,903 | 138,886 | ||||||||||||||||||||
Consumer and credit card | 5,453 | — | 20 | 5,473 | ||||||||||||||||||||
Total | $ | 9,538,490 | $ | 560,543 | $ | 25,242 | $ | 10,124,275 | ||||||||||||||||
Pass | Special Mention | Substandard | Doubtful | Total | ||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Commercial and commercial real estate: | ||||||||||||||||||||||||
Mortgage warehouse finance | $ | 1,310,611 | $ | — | $ | — | $ | — | $ | 1,310,611 | ||||||||||||||
Lender finance | 625,335 | — | — | — | 625,335 | |||||||||||||||||||
Other commercial finance | 79,997 | — | 525 | — | 80,522 | |||||||||||||||||||
Commercial real estate | 2,947,992 | 32,890 | 173,019 | — | 3,153,901 | |||||||||||||||||||
Total commercial and commercial real estate | $ | 4,963,935 | $ | 32,890 | $ | 173,544 | $ | — | $ | 5,170,369 | ||||||||||||||
Non-performing | ||||||||||||||||||||||||
Performing | Accrual | Nonaccrual | Total | |||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Residential mortgages: | ||||||||||||||||||||||||
Residential (1) | $ | 5,096,589 | $ | — | $ | 56,517 | $ | 5,153,106 | ||||||||||||||||
Government insured pool buyouts (2) (3) | 1,219,719 | 671,918 | — | 1,891,637 | ||||||||||||||||||||
Equipment financing receivables | 1,233,414 | — | 4,527 | 1,237,941 | ||||||||||||||||||||
Home equity lines | 148,646 | — | 3,270 | 151,916 | ||||||||||||||||||||
Consumer and credit card | 5,117 | — | 37 | 5,154 | ||||||||||||||||||||
Total | $ | 7,703,485 | $ | 671,918 | $ | 64,351 | $ | 8,439,754 | ||||||||||||||||
Pass | Special Mention | Substandard | Doubtful | Total | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Commercial and commercial real estate: | ||||||||||||||||||||||||
Mortgage warehouse finance | $ | 944,219 | $ | — | $ | — | $ | — | $ | 944,219 | ||||||||||||||
Lender finance | 592,621 | — | — | — | 592,621 | |||||||||||||||||||
Other commercial finance | 84,639 | 135 | 1,106 | — | 85,880 | |||||||||||||||||||
Commercial real estate | 2,989,493 | 34,012 | 166,745 | — | 3,190,250 | |||||||||||||||||||
Total commercial and commercial real estate | $ | 4,610,972 | $ | 34,147 | $ | 167,851 | $ | — | $ | 4,812,970 | ||||||||||||||
-1 | For the periods ended June 30, 2014 and December 31, 2013, performing residential mortgages included $6,135 and $7,879, respectively, of ACI loans greater than 90 days past due and still accruing. | |||||||||||||||||||||||
-2 | For the periods ended June 30, 2014 and December 31, 2013, performing government insured pool buyouts included $1,819,917 and $350,312, respectively, of ACI loans greater than 90 days past due and still accruing. | |||||||||||||||||||||||
-3 | Non-performing government insured pool buyouts represent loans that are 90 days or greater past due but remain on accrual status as the interest earned is insured and thus collectible from the insuring governmental agency. | |||||||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||
The following tables present an aging analysis of the recorded investment for loans and leases by class as of June 30, 2014 and December 31, 2013: | ||||||||||||||||||||||||
30-59 Days Past Due | 60-89 Days Past Due | 90 Days and Greater Past Due | Total Past Due | Current | Total Loans Held for Investment Excluding ACI | |||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Residential mortgages: | ||||||||||||||||||||||||
Residential | $ | 8,578 | $ | 4,315 | $ | 14,673 | $ | 27,566 | $ | 5,118,165 | $ | 5,145,731 | ||||||||||||
Government insured pool buyouts (1) | 65,432 | 46,261 | 560,543 | 672,236 | 439,316 | 1,111,552 | ||||||||||||||||||
Commercial and commercial real estate: | ||||||||||||||||||||||||
Mortgage warehouse finance | — | — | — | — | 1,310,611 | 1,310,611 | ||||||||||||||||||
Lender finance | — | — | — | — | 625,335 | 625,335 | ||||||||||||||||||
Other commercial finance | — | — | — | — | 75,810 | 75,810 | ||||||||||||||||||
Commercial real estate | 1,333 | — | — | 1,333 | 2,872,951 | 2,874,284 | ||||||||||||||||||
Equipment financing receivables | 9,943 | 2,613 | 2,478 | 15,034 | 1,562,491 | 1,577,525 | ||||||||||||||||||
Home equity lines | 1,113 | 856 | 1,903 | 3,872 | 135,014 | 138,886 | ||||||||||||||||||
Consumer and credit card | 47 | 21 | 20 | 88 | 5,385 | 5,473 | ||||||||||||||||||
Total loans and leases held for investment | $ | 86,446 | $ | 54,066 | $ | 579,617 | $ | 720,129 | $ | 12,145,078 | $ | 12,865,207 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Residential mortgages: | ||||||||||||||||||||||||
Residential | $ | 10,145 | $ | 4,683 | $ | 56,517 | $ | 71,345 | $ | 5,011,257 | $ | 5,082,602 | ||||||||||||
Government insured pool buyouts (1) | 90,795 | 55,666 | 671,918 | 818,379 | 492,367 | 1,310,746 | ||||||||||||||||||
Commercial and commercial real estate: | ||||||||||||||||||||||||
Mortgage warehouse finance | — | — | — | — | 944,219 | 944,219 | ||||||||||||||||||
Lender finance | — | — | — | — | 592,621 | 592,621 | ||||||||||||||||||
Other commercial finance | — | 2 | 1,005 | 1,007 | 77,059 | 78,066 | ||||||||||||||||||
Commercial real estate | 2,909 | — | — | 2,909 | 2,853,550 | 2,856,459 | ||||||||||||||||||
Equipment financing receivables | 7,277 | 3,098 | 1,024 | 11,399 | 1,226,542 | 1,237,941 | ||||||||||||||||||
Home equity lines | 2,614 | 396 | 3,270 | 6,280 | 145,636 | 151,916 | ||||||||||||||||||
Consumer and credit card | 23 | 12 | 37 | 72 | 5,082 | 5,154 | ||||||||||||||||||
Total loans and leases held for investment | $ | 113,763 | $ | 63,857 | $ | 733,771 | $ | 911,391 | $ | 11,348,333 | $ | 12,259,724 | ||||||||||||
-1 | Government insured pool buyouts remain on accrual status after 90 days as the interest earned is collectible from the insuring governmental agency. | |||||||||||||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||
The following tables present the unpaid principal balance, the recorded investment and the related allowance for impaired loans as of June 30, 2014 and December 31, 2013: | ||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
Unpaid Principal Balance | Recorded Investment (1) | Related Allowance | Unpaid Principal Balance | Recorded Investment (1) | Related Allowance | |||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||
Residential mortgages: | ||||||||||||||||||||||||
Residential | $ | 11,212 | $ | 10,716 | $ | 2,823 | $ | 67,663 | $ | 64,079 | $ | 9,134 | ||||||||||||
Commercial and commercial real estate: | ||||||||||||||||||||||||
Commercial real estate | 11,734 | 11,707 | 1,473 | 1,161 | 1,172 | 248 | ||||||||||||||||||
Total impaired loans with an allowance recorded | $ | 22,946 | $ | 22,423 | $ | 4,296 | $ | 68,824 | $ | 65,251 | $ | 9,382 | ||||||||||||
Without a related allowance recorded: | ||||||||||||||||||||||||
Residential mortgages: | ||||||||||||||||||||||||
Residential | $ | 6,040 | $ | 5,076 | $ | 34,898 | $ | 26,393 | ||||||||||||||||
Commercial and commercial real estate: | ||||||||||||||||||||||||
Commercial real estate | 44,663 | 44,099 | 23,281 | 21,575 | ||||||||||||||||||||
Total impaired loans without an allowance recorded | $ | 50,703 | $ | 49,175 | $ | 58,179 | $ | 47,968 | ||||||||||||||||
-1 | The primary difference between the unpaid principal balance and recorded investment represents charge offs previously taken. | |||||||||||||||||||||||
The following table presents the average investment and interest income recognized on impaired loans for the three and six months ended June 30, 2014 and 2013: | ||||||||||||||||||||||||
Three Months Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Average Investment | Interest Income Recognized | Average Investment | Interest Income Recognized | |||||||||||||||||||||
With and without a related allowance recorded: | ||||||||||||||||||||||||
Residential mortgages: | ||||||||||||||||||||||||
Residential | $ | 49,516 | $ | 418 | $ | 95,736 | $ | 706 | ||||||||||||||||
Commercial and commercial real estate: | ||||||||||||||||||||||||
Commercial | 1 | — | 4,786 | — | ||||||||||||||||||||
Commercial real estate | 42,967 | 396 | 76,875 | 250 | ||||||||||||||||||||
Total impaired loans | $ | 92,484 | $ | 814 | $ | 177,397 | $ | 956 | ||||||||||||||||
Six Months Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Average Investment | Interest Income Recognized | Average Investment | Interest Income Recognized | |||||||||||||||||||||
With and without a related allowance recorded: | ||||||||||||||||||||||||
Residential mortgages: | ||||||||||||||||||||||||
Residential | $ | 63,168 | $ | 1,035 | $ | 95,582 | $ | 1,476 | ||||||||||||||||
Commercial and commercial real estate: | ||||||||||||||||||||||||
Commercial | — | — | 5,544 | 2 | ||||||||||||||||||||
Commercial real estate | 36,227 | 562 | 79,650 | 464 | ||||||||||||||||||||
Total impaired loans | $ | 99,395 | $ | 1,597 | $ | 180,776 | $ | 1,942 | ||||||||||||||||
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | ' | |||||||||||||||||||||||
The following table presents the recorded investment for loans and leases on nonaccrual status by class and loans greater than 90 days past due and still accruing as of June 30, 2014 and December 31, 2013: | ||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||||||||||
Nonaccrual Status | Greater than 90 Days Past Due and Accruing | Nonaccrual Status | Greater than 90 Days Past Due and Accruing | |||||||||||||||||||||
Residential mortgages: | ||||||||||||||||||||||||
Residential | $ | 14,673 | $ | — | $ | 56,517 | $ | — | ||||||||||||||||
Government insured pool buyouts | — | 560,543 | — | 671,918 | ||||||||||||||||||||
Commercial and commercial real estate: | ||||||||||||||||||||||||
Other commercial finance | — | — | 1,005 | — | ||||||||||||||||||||
Commercial real estate | 42,001 | — | 17,544 | — | ||||||||||||||||||||
Equipment financing receivables | 8,646 | — | 4,527 | — | ||||||||||||||||||||
Home equity lines | 1,903 | — | 3,270 | — | ||||||||||||||||||||
Consumer and credit card | 20 | — | 37 | — | ||||||||||||||||||||
Total non-performing loans and leases | $ | 67,243 | $ | 560,543 | $ | 82,900 | $ | 671,918 | ||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||
The following is a summary of information relating to modifications considered to be TDRs for the three and six months ended June 30, 2014 and 2013 that remain as of the respective balance sheet dates: | ||||||||||||||||||||||||
Three Months Ended June 30, 2014 | Six Months Ended June 30, 2014 | |||||||||||||||||||||||
Number of | Pre- | Post- | Number of Contracts | Pre-modification Recorded Investment | Post-modification Recorded Investment | |||||||||||||||||||
Contracts | modification | modification | ||||||||||||||||||||||
Recorded | Recorded | |||||||||||||||||||||||
Investment | Investment | |||||||||||||||||||||||
Loan Type: | ||||||||||||||||||||||||
Residential | 3 | $ | 1,217 | $ | 1,218 | 3 | $ | 1,217 | $ | 1,218 | ||||||||||||||
Three Months Ended June 30, 2013 | Six Months Ended June 30, 2013 | |||||||||||||||||||||||
Number of | Pre- | Post- | Number of | Pre- | Post- | |||||||||||||||||||
Contracts | modification | modification | Contracts | modification | modification | |||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | |||||||||||||||||||||
Investment | Investment | Investment | Investment | |||||||||||||||||||||
Loan Type: | ||||||||||||||||||||||||
Residential | 6 | $ | 2,300 | $ | 2,310 | 18 | $ | 7,888 | $ | 7,910 | ||||||||||||||
Commercial real estate | 1 | 1,319 | 1,319 | 2 | 1,695 | 1,695 | ||||||||||||||||||
Total | 7 | $ | 3,619 | $ | 3,629 | 20 | $ | 9,583 | $ | 9,605 | ||||||||||||||
The number of contracts and recorded investment of loans that were modified during the last 12 months and subsequently defaulted during the three and six months ended June 30, 2014 and 2013 are as follows: | ||||||||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||||
30-Jun-14 | 30-Jun-14 | |||||||||||||||||||||||
Number of Contracts | Recorded Investment | Number of Contracts | Recorded Investment | |||||||||||||||||||||
Loan Type: | ||||||||||||||||||||||||
Residential | 1 | $ | 684 | 1 | $ | 684 | ||||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||||||||||
30-Jun-13 | 30-Jun-13 | |||||||||||||||||||||||
Number of Contracts | Recorded Investment | Number of Contracts | Recorded Investment | |||||||||||||||||||||
Loan Type: | ||||||||||||||||||||||||
Residential | 1 | $ | 187 | 1 | $ | 187 | ||||||||||||||||||
Other commercial finance | 1 | 728 | 1 | 728 | ||||||||||||||||||||
Commercial real estate | 1 | 136 | 1 | 136 | ||||||||||||||||||||
Total | 3 | $ | 1,051 | 3 | $ | 1,051 | ||||||||||||||||||
The recorded investment of TDRs as of June 30, 2014 and December 31, 2013 are summarized as follows: | ||||||||||||||||||||||||
June 30, | December 31, | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Loan Type: | ||||||||||||||||||||||||
Residential mortgages | $ | 15,792 | $ | 90,472 | ||||||||||||||||||||
Commercial and commercial real estate | 8,312 | 8,598 | ||||||||||||||||||||||
Total recorded investment of TDRs | $ | 24,104 | $ | 99,070 | ||||||||||||||||||||
Accrual Status: | ||||||||||||||||||||||||
Current | $ | 12,092 | $ | 73,180 | ||||||||||||||||||||
30-89 days past-due accruing | 4,345 | 3,732 | ||||||||||||||||||||||
90+ days past-due accruing | — | 306 | ||||||||||||||||||||||
Nonaccrual | 7,667 | 21,852 | ||||||||||||||||||||||
Total recorded investment of TDRs | $ | 24,104 | $ | 99,070 | ||||||||||||||||||||
TDRs classified as impaired loans | $ | 24,104 | $ | 99,070 | ||||||||||||||||||||
Valuation allowance on TDRs | 2,859 | 9,134 | ||||||||||||||||||||||
Servicing_Activities_and_Mortg1
Servicing Activities and Mortgage Servicing Rights (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Servicing Activities and Mortgage Servicing Rights [Abstract] | ' | |||||||||||||||
Schedule of Servicing Assets at Amortized Value [Table Text Block] | ' | |||||||||||||||
A summary of MSR activities for the three and six months ended June 30, 2014 and 2013 is as follows: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Balance, beginning of period | $ | 446,493 | $ | 375,641 | $ | 506,680 | $ | 375,859 | ||||||||
Originated servicing rights capitalized upon sale of loans | 10,552 | 27,491 | 22,104 | 50,992 | ||||||||||||
Acquired servicing rights | — | 63,555 | — | 63,555 | ||||||||||||
Sale of servicing rights | — | — | (55,547 | ) | — | |||||||||||
Amortization | (19,026 | ) | (35,945 | ) | (39,598 | ) | (71,023 | ) | ||||||||
Decrease (increase) in valuation allowance | — | 32,572 | 4,941 | 45,127 | ||||||||||||
Other | (424 | ) | (596 | ) | (985 | ) | (1,792 | ) | ||||||||
Balance, end of period | $ | 437,595 | $ | 462,718 | $ | 437,595 | $ | 462,718 | ||||||||
Valuation allowance: | ||||||||||||||||
Balance, beginning of period | $ | 3,071 | $ | 90,408 | $ | 8,012 | $ | 102,963 | ||||||||
Recoveries | — | (32,572 | ) | (4,941 | ) | (45,127 | ) | |||||||||
Balance, end of period | $ | 3,071 | $ | 57,836 | $ | 3,071 | $ | 57,836 | ||||||||
Loan Servicing Income [Table Text Block] | ' | |||||||||||||||
Components of loan servicing fee income for the three and six months ended June 30, 2014 and 2013 are presented below: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Contractually specified service fees, net | $ | 31,246 | $ | 38,584 | $ | 68,393 | $ | 70,373 | ||||||||
Other ancillary fees | 6,645 | 7,993 | 15,544 | 17,730 | ||||||||||||
Other | 2,526 | 615 | 3,097 | 1,252 | ||||||||||||
$ | 40,417 | $ | 47,192 | $ | 87,034 | $ | 89,355 | |||||||||
Schedule of Assumptions for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Table Text Block] | ' | |||||||||||||||
For loans securitized and sold with servicing retained during the three and six months ended June 30, 2014 and 2013, management used the following assumptions to determine the fair value of residential MSR at the date of securitization: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
30-Jun-14 | 30-Jun-14 | |||||||||||||||
Average discount rates | 9.62 | % | — | 10.16% | 9.32 | % | — | 10.16% | ||||||||
Expected prepayment speeds | 11.74 | % | — | 13.76% | 11.73 | % | — | 13.76% | ||||||||
Weighted-average life in years | 6.03 | — | 6.29 | 6.03 | — | 6.41 | ||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
30-Jun-13 | 30-Jun-13 | |||||||||||||||
Average discount rates | 9.61 | % | — | 9.67% | 9.38 | % | — | 9.85% | ||||||||
Expected prepayment speeds | 7.91 | % | — | 14.93% | 7.91 | % | — | 14.93% | ||||||||
Weighted-average life in years | 5.33 | — | 6.91 | 5.33 | — | 6.91 | ||||||||||
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | ' | |||||||||||||||
The characteristics used in estimating the fair value of the residential MSR portfolio at June 30, 2014 and December 31, 2013 are as follows: | ||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||
Unpaid principal balance | $ | 41,635,000 | $ | 52,816,000 | ||||||||||||
Gross weighted-average coupon | 4.44 | % | 4.46 | % | ||||||||||||
Weighted-average servicing fee | 0.29 | % | 0.29 | % | ||||||||||||
Expected prepayment speed (1) | 11.95 | % | 14.87 | % | ||||||||||||
-1 | The prepayment speed assumptions include a blend of prepayment speeds that are influenced by mortgage interest rates, the current macroeconomic environment and borrower behaviors and may vary over the expected life of the asset. | |||||||||||||||
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets [Table Text Block] | ' | |||||||||||||||
A sensitivity analysis of the Company’s fair value of residential MSR portfolio to hypothetical adverse changes of 10% and 20% to the weighted-average of certain key assumptions as of June 30, 2014 and December 31, 2013 is presented below. | ||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||
Prepayment Rate | ||||||||||||||||
10% adverse rate change | $ | 19,036 | $ | 22,941 | ||||||||||||
20% adverse rate change | 36,751 | 44,156 | ||||||||||||||
Discount Rate | ||||||||||||||||
10% adverse rate change | 16,273 | 19,303 | ||||||||||||||
20% adverse rate change | 31,417 | 37,294 | ||||||||||||||
Other_Borrowings_Tables
Other Borrowings (Tables) | 6 Months Ended | |||||||
Jun. 30, 2014 | ||||||||
Other Borrowings [Abstract] | ' | |||||||
Schedule of Other Borrowings by Type [Table Text Block] | ' | |||||||
Other borrowings at June 30, 2014 and December 31, 2013 are comprised of the following: | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
FHLB advances | $ | 3,773,000 | $ | 2,353,000 | ||||
Notes payable | 24,000 | 24,000 | ||||||
$ | 3,797,000 | $ | 2,377,000 | |||||
Schedule of Advances from Federal Home Loan Bank [Table Text Block] | ' | |||||||
Advances from the FHLB at June 30, 2014 and December 31, 2013 are as follows: | ||||||||
June 30, | December 31, | |||||||
2014 | 2013 | |||||||
Fixed-rate advances with a weighted-average interest rate of 1.16% and 1.60%, respectively | $ | 3,723,000 | $ | 2,353,000 | ||||
Overnight advances with a weighted-average floating interest rate of 0.36% and 0.00%, respectively | 50,000 | — | ||||||
$ | 3,773,000 | $ | 2,353,000 | |||||
Schedule of Contractual Maturity Dates for Federal Home Loan Bank Advances [Table Text Block] | ' | |||||||
Contractual maturity dates for FHLB advances at June 30, 2014 are as follows: | ||||||||
2014 | $ | 1,970,000 | ||||||
2015 | 331,000 | |||||||
2016 | 190,000 | |||||||
2017 | 380,000 | |||||||
2018 | 260,000 | |||||||
2019 | 80,000 | |||||||
Thereafter | 562,000 | |||||||
$ | 3,773,000 | |||||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 6 Months Ended | ||
Jun. 30, 2014 | |||
Share-based Compensation [Abstract] | ' | ||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||
Significant assumptions used in the Black-Scholes option-pricing model to determine the fair value of stock options are as follows: | |||
Risk-free interest rate | 2.04 | % | |
Expected volatility | 35 | % | |
Expected term (years) | 6.5 | ||
Dividend yield | 0.86 | % |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | |||||||||||||||
The following table sets forth the computation of basic and diluted earnings per common share for the three and six months ended June 30, 2014 and 2013: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Net income | $ | 34,782 | $ | 45,993 | $ | 66,542 | $ | 85,139 | ||||||||
Less dividends on preferred stock | (2,531 | ) | (2,531 | ) | (5,062 | ) | (5,062 | ) | ||||||||
Net income allocated to common shareholders | $ | 32,251 | $ | 43,462 | $ | 61,480 | $ | 80,077 | ||||||||
(Units in Thousands) | ||||||||||||||||
Average common shares outstanding | 122,840 | 122,281 | 122,763 | 121,934 | ||||||||||||
Common share equivalents: | ||||||||||||||||
Stock options | 2,379 | 1,683 | 2,291 | 1,730 | ||||||||||||
Nonvested stock | 170 | 70 | 151 | 71 | ||||||||||||
Average common shares outstanding, assuming dilution | 125,389 | 124,034 | 125,205 | 123,735 | ||||||||||||
Basic earnings per share | $ | 0.26 | $ | 0.36 | $ | 0.5 | $ | 0.66 | ||||||||
Diluted earnings per share | $ | 0.26 | $ | 0.35 | $ | 0.49 | $ | 0.65 | ||||||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | ' | |||||||||||||||
Common shares attributed to these antidilutive securities had these securities been exercised or converted as of June 30, 2014 and 2013 are as follows: | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Stock Options | 1,297,295 | 3,201,156 | 1,058,285 | 4,673,609 | ||||||||||||
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Derivative Financial Instruments [Abstract] | ' | |||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | ' | |||||||||||||||
The fair values of derivatives are reported in other assets, deposits, or accounts payable and accrued liabilities. The fair values are derived using the valuation techniques described in Note 13. The total notional or contractual amounts and fair values as of June 30, 2014 and December 31, 2013 are as follows: | ||||||||||||||||
Fair Value | ||||||||||||||||
Notional Amount | Asset Derivatives | Liability Derivatives | ||||||||||||||
June 30, 2014 | ||||||||||||||||
Qualifying hedge contracts accounted for under Accounting Standards Codification (ASC) 815, Derivatives and Hedging | ||||||||||||||||
Cash flow hedges: | ||||||||||||||||
Forward interest rate swaps | $ | 53,000 | $ | — | $ | 2,927 | ||||||||||
Derivatives not designated as hedging instruments under ASC 815, Derivatives and Hedging | ||||||||||||||||
Freestanding derivatives: | ||||||||||||||||
Interest rate lock commitments (IRLCs) | 813,921 | 10,617 | 365 | |||||||||||||
Forward and optional forward purchase and sale commitments | 5,364,403 | 1,862 | 10,842 | |||||||||||||
Interest rate swaps and futures | 266,623 | — | 680 | |||||||||||||
Foreign exchange contracts | 758,648 | 8,825 | 1,765 | |||||||||||||
Foreign currency, commodity and metals indexed options | 178,155 | 7,597 | — | |||||||||||||
Options embedded in client deposits | 176,382 | — | 7,530 | |||||||||||||
Indemnification assets | 112,863 | 6,460 | — | |||||||||||||
Total freestanding derivatives | 35,361 | 21,182 | ||||||||||||||
Netting and cash collateral adjustments (1) | (5,749 | ) | (3,884 | ) | ||||||||||||
Total derivatives | $ | 29,612 | $ | 20,225 | ||||||||||||
Fair Value | ||||||||||||||||
Notional Amount | Asset Derivatives | Liability Derivatives | ||||||||||||||
December 31, 2013 | ||||||||||||||||
Qualifying hedge contracts accounted for under ASC 815, Derivatives and Hedging | ||||||||||||||||
Cash flow hedges: | ||||||||||||||||
Forward interest rate swaps | $ | 253,000 | $ | — | $ | 27,897 | ||||||||||
Derivatives not designated as hedging instruments under ASC 815, Derivatives and Hedging | ||||||||||||||||
Freestanding derivatives: | ||||||||||||||||
IRLCs | 590,020 | 896 | 2,566 | |||||||||||||
Forward and optional forward purchase and sale commitments | 1,001,489 | 12,228 | 2,948 | |||||||||||||
Interest rate swaps | 75,239 | — | 347 | |||||||||||||
Foreign exchange contracts | 807,732 | 4,073 | 14,318 | |||||||||||||
Foreign currency, commodity and metals indexed options | 171,405 | 7,719 | — | |||||||||||||
Options embedded in client deposits | 170,176 | — | 7,689 | |||||||||||||
Indemnification assets | 147,897 | 7,531 | — | |||||||||||||
Total freestanding derivatives | 32,447 | 27,868 | ||||||||||||||
Netting and cash collateral adjustments (1) | (4,277 | ) | (40,367 | ) | ||||||||||||
Total derivatives | $ | 28,170 | $ | 15,398 | ||||||||||||
-1 | Amounts represent the effect of legally enforceable master netting agreements that allow the Company to settle positive and negative positions as well as cash collateral and related accrued interest held or placed with the same counterparties. Amounts as of June 30, 2014 and December 31, 2013 include derivative positions netted totaling $1,715 and $1,763, respectively. | |||||||||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | ' | |||||||||||||||
The following table shows the net gains and losses recognized for the three and six months ended June 30, 2014 and 2013 in the condensed consolidated statements of income related to derivatives not designated as hedging instruments under ASC 815, Derivatives and Hedging. These gains and losses are recognized in noninterest income, except for the indemnification assets which are recognized in general and administrative expense. | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
Freestanding derivatives | ||||||||||||||||
Gains (losses) on interest rate contracts (1) | $ | (20,631 | ) | $ | 56,027 | $ | (35,794 | ) | $ | 78,059 | ||||||
Gains (losses) on indemnification assets (2) | (844 | ) | 16 | (1,071 | ) | (161 | ) | |||||||||
Other | (5 | ) | (6 | ) | (15 | ) | (146 | ) | ||||||||
Total | $ | (21,480 | ) | $ | 56,037 | $ | (36,880 | ) | $ | 77,752 | ||||||
-1 | Interest rate contracts include interest rate lock commitments, forward and optional forward purchase and sales commitments, and interest rate swaps and futures. | |||||||||||||||
-2 | Refer to Note 13 for additional information relating to the indemnification asset. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | |||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | |||||||||||||||||||
As of June 30, 2014 and December 31, 2013, assets and liabilities measured at fair value on a recurring basis, including certain loans held for sale for which the Company has elected the fair value option, are as follows: | ||||||||||||||||||||
Level 1 (1) | Level 2 | Level 3 | Netting | Total | ||||||||||||||||
June 30, 2014 | ||||||||||||||||||||
Financial assets: | ||||||||||||||||||||
Available for sale securities: | ||||||||||||||||||||
Residential CMO securities - nonagency | $ | — | $ | 1,027,352 | $ | — | $ | 1,027,352 | ||||||||||||
Asset-backed securities | — | 1,710 | — | 1,710 | ||||||||||||||||
Other | 379 | 226 | — | 605 | ||||||||||||||||
Total available for sale securities | 379 | 1,029,288 | — | 1,029,667 | ||||||||||||||||
Loans held for sale | — | 673,400 | 156,546 | 829,946 | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||||||
Derivative assets (Note 12) | — | 18,284 | 17,077 | (5,749 | ) | 29,612 | ||||||||||||||
Derivative liabilities (Note 12) | — | 23,744 | 365 | (3,884 | ) | 20,225 | ||||||||||||||
Level 1 | Level 2 | Level 3 | Netting | Total | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Financial assets: | ||||||||||||||||||||
Available for sale securities: | ||||||||||||||||||||
Residential CMO securities - nonagency | $ | — | $ | 1,109,271 | $ | — | $ | 1,109,271 | ||||||||||||
Asset-backed securities | — | 3,086 | — | 3,086 | ||||||||||||||||
Other | 399 | 2,871 | — | 3,270 | ||||||||||||||||
Total available for sale securities | 399 | 1,115,228 | — | 1,115,627 | ||||||||||||||||
Loans held for sale | — | 613,459 | 58,912 | 672,371 | ||||||||||||||||
Derivative financial instruments: | ||||||||||||||||||||
Derivative assets (Note 12) | — | 24,020 | 8,427 | (4,277 | ) | 28,170 | ||||||||||||||
Derivative liabilities (Note 12) | — | 53,199 | 2,566 | (40,367 | ) | 15,398 | ||||||||||||||
-1 | Level 1 derivative assets include interest rate swap futures. These futures are settled on a daily basis between the counterparty and the Company, resulting in the Company holding an outstanding notional balance and a zero derivative balance. See Note 12 for additional information regarding the interest rate future. | |||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | |||||||||||||||||||
Changes in assets and liabilities measured at Level 3 fair value on a recurring basis for the three and six months ended June 30, 2014 and 2013 are as follows: | ||||||||||||||||||||
Loans Held for Sale (1) | FDIC Clawback Liability (2) | Freestanding Derivatives, net (3) | ||||||||||||||||||
Three Months Ended June 30, 2014 | ||||||||||||||||||||
Balance, beginning of period | $ | 63,705 | $ | — | $ | 7,348 | ||||||||||||||
Issuances | 187,582 | — | 17,775 | |||||||||||||||||
Sales | (87,748 | ) | — | — | ||||||||||||||||
Settlements | (9,443 | ) | — | (28,951 | ) | |||||||||||||||
Gains (losses) included in earnings for the period | 2,450 | — | 20,540 | |||||||||||||||||
Balance, end of period | $ | 156,546 | $ | — | $ | 16,712 | ||||||||||||||
Change in unrealized net gains (losses) included in net income related to assets and liabilities still held as of June 30, 2014 | $ | 1,822 | $ | — | $ | 9,364 | ||||||||||||||
Three Months Ended June 30, 2013 | ||||||||||||||||||||
Balance, beginning of period | $ | — | $ | (52,188 | ) | $ | 15,544 | |||||||||||||
Issuances | 291,288 | — | 91,793 | |||||||||||||||||
Settlements | — | — | (40,259 | ) | ||||||||||||||||
Gains (losses) included in earnings for the period | (3,382 | ) | 3,195 | (74,574 | ) | |||||||||||||||
Balance, end of period | $ | 287,906 | $ | (48,993 | ) | $ | (7,496 | ) | ||||||||||||
Change in unrealized net gains (losses) included in net income related to assets and liabilities still held as of June 30, 2013 | $ | (3,382 | ) | $ | 3,195 | $ | (23,040 | ) | ||||||||||||
Loans Held for Sale (1) | FDIC Clawback Liability (2) | Freestanding Derivatives, net (3) | ||||||||||||||||||
Six Months Ended June 30, 2014 | ||||||||||||||||||||
Balance, beginning of period | $ | 58,912 | $ | — | $ | 5,861 | ||||||||||||||
Issuances | 264,077 | — | 22,914 | |||||||||||||||||
Sales | (143,345 | ) | — | — | ||||||||||||||||
Settlements | (26,888 | ) | — | (35,966 | ) | |||||||||||||||
Gains (losses) included in earnings for the period | 3,790 | — | 23,903 | |||||||||||||||||
Balance, end of period | $ | 156,546 | $ | — | $ | 16,712 | ||||||||||||||
Change in unrealized net gains (losses) included in net income related to assets and liabilities still held as of June 30, 2014 | $ | 1,822 | $ | — | $ | 10,850 | ||||||||||||||
Six Months Ended June 30, 2013 | ||||||||||||||||||||
Balance, beginning of period | $ | — | $ | (50,720 | ) | $ | 9,092 | |||||||||||||
Issuances | 291,288 | — | 91,793 | |||||||||||||||||
Transfers into Level 3 | — | — | 6,628 | |||||||||||||||||
Settlements | — | — | (40,259 | ) | ||||||||||||||||
Gains (losses) included in earnings for the period | (3,382 | ) | 1,727 | (74,750 | ) | |||||||||||||||
Balance, end of period | $ | 287,906 | $ | (48,993 | ) | $ | (7,496 | ) | ||||||||||||
Change in unrealized net gains (losses) included in net income related to assets and liabilities still held as of June 30, 2013 | $ | (3,382 | ) | $ | 1,727 | $ | (23,216 | ) | ||||||||||||
-1 | Net realized and unrealized gains on loans held for sale are included in gain on sale of loans. | |||||||||||||||||||
-2 | Changes in fair value of the Federal Deposit Insurance Corporation (FDIC) clawback liability are recorded in general and administrative expense. | |||||||||||||||||||
-3 | Net realized and unrealized gains (losses) on IRLCs are included in gain on sale of loans. Changes in the fair value of the indemnification assets are recorded in general and administrative expense. | |||||||||||||||||||
Fair Value, Option, Quantitative Disclosures [Table Text Block] | ' | |||||||||||||||||||
The following table presents information on loans held for sale reported under the fair value option at June 30, 2014 and December 31, 2013: | ||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||
Fair value carrying amount | $ | 829,946 | ||||||||||||||||||
Aggregate unpaid principal balance | 799,081 | |||||||||||||||||||
Fair value carrying amount less aggregate unpaid principal | $ | 30,865 | ||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Fair value carrying amount | $ | 672,371 | ||||||||||||||||||
Aggregate unpaid principal balance | 659,592 | |||||||||||||||||||
Fair value carrying amount less aggregate unpaid principal | $ | 12,779 | ||||||||||||||||||
Fair Value Measurements, Nonrecurring [Table Text Block] | ' | |||||||||||||||||||
Certain assets and liabilities are measured at fair value on a non-recurring basis and therefore are not included in the tables above. These measurements primarily result from assets carried at the lower of cost or fair value or from impairment of individual assets. Gains and losses disclosed below represent changes in fair value recognized subsequent to initial classification. The change in the MSR value represents a change due to impairment or recoveries on previous write downs. The carrying value of assets measured at fair value on a non-recurring basis and held at June 30, 2014 and December 31, 2013 and related changes in fair value are as follows: | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Loss (Gain) Due to Change in Fair Value | ||||||||||||||||
June 30, 2014 | ||||||||||||||||||||
Collateral-dependent loans | $ | — | $ | — | $ | 11,699 | $ | 11,699 | $ | 1,405 | ||||||||||
Other real estate owned (1) | — | — | 5,159 | 5,159 | 907 | |||||||||||||||
Mortgage servicing rights (2) | — | — | 64,877 | 64,877 | (4,941 | ) | ||||||||||||||
Loans held for sale | — | — | 2,447 | 2,447 | 62 | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Collateral-dependent loans | $ | — | $ | — | $ | 907 | $ | 907 | $ | 248 | ||||||||||
Other real estate owned (1) | — | — | 7,009 | 7,009 | 2,008 | |||||||||||||||
Mortgage servicing rights (2) | — | — | 448,925 | 448,925 | (94,951 | ) | ||||||||||||||
Loans held for sale | — | — | 9,123 | 9,123 | 424 | |||||||||||||||
-1 | Gains and losses resulting from subsequent measurement of OREO are included in the condensed consolidated statements of income as general and administrative expense. OREO is included in other assets in the condensed consolidated balance sheets. | |||||||||||||||||||
-2 | The fair value for mortgage servicing rights represents the value of the strata with impairment or recoveries on previous valuation allowances. | |||||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | |||||||||||||||||||
The following table presents the carrying amount, estimated fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of June 30, 2014 and December 31, 2013. This table excludes financial instruments with short-term or no stated maturity, prevailing market rates and limited credit risk, where carrying amounts approximate fair value. For financial assets such as cash and due from banks, interest-bearing deposits in banks, FHLB restricted stock, and other investments, the carrying amount is a reasonable estimate of fair value. For financial liabilities such as noninterest-bearing demand, interest-bearing demand, and savings and money market deposits, the carrying amount is a reasonable estimate of fair value as these liabilities have no stated maturity. | ||||||||||||||||||||
Carrying Amount | Estimated Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||||
June 30, 2014 | ||||||||||||||||||||
Financial assets: | ||||||||||||||||||||
Investment securities: | ||||||||||||||||||||
Held to maturity | $ | 118,614 | $ | 120,965 | $ | — | $ | 120,965 | $ | — | ||||||||||
Loans held for sale (1) | 874,460 | 864,743 | — | 848,702 | 16,041 | |||||||||||||||
Loans held for investment (2) | 13,965,944 | $ | 14,053,839 | — | — | 14,053,839 | ||||||||||||||
Financial liabilities: | ||||||||||||||||||||
Time deposits | $ | 4,741,216 | $ | 4,774,218 | $ | — | $ | 4,774,218 | $ | — | ||||||||||
Other borrowings | 3,797,000 | 3,804,576 | — | 3,804,576 | — | |||||||||||||||
Trust preferred securities | 103,750 | 94,310 | — | — | 94,310 | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Financial assets: | ||||||||||||||||||||
Investment securities: | ||||||||||||||||||||
Held to maturity | $ | 107,312 | $ | 107,921 | $ | — | $ | 107,921 | $ | — | ||||||||||
Loans held for sale (1) | 119,011 | 121,092 | — | 49,619 | 71,473 | |||||||||||||||
Loans held for investment (2) | 12,153,835 | 12,266,499 | — | — | 12,266,499 | |||||||||||||||
Financial liabilities: | ||||||||||||||||||||
Time deposits | $ | 3,654,179 | $ | 3,680,868 | $ | — | $ | 3,680,868 | $ | — | ||||||||||
Other borrowings | 2,377,000 | 2,353,858 | — | 2,353,858 | — | |||||||||||||||
Trust preferred securities | 103,750 | 86,220 | — | — | 86,220 | |||||||||||||||
-1 | The carrying value of loans held for sale excludes $829,946 and $672,371 in loans measured at fair value on a recurring basis as of June 30, 2014 and December 31, 2013, respectively. | |||||||||||||||||||
-2 | The carrying value of loans held for investment is net of the allowance for loan loss of $51,163 and $59,417 as of June 30, 2014 and December 31, 2013, respectively. In addition, the carrying values excludes $1,271,972 and $1,035,199 of lease financing receivables within our equipment financing receivables portfolio as of June 30, 2014 and December 31, 2013, respectively. | |||||||||||||||||||
Fair Value, Measurements, Recurring [Member] | ' | |||||||||||||||||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | |||||||||||||||||||
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | ' | |||||||||||||||||||
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a recurring basis at June 30, 2014 and December 31, 2013: | ||||||||||||||||||||
Level 3 Fair Value Measurement | Fair Value | Valuation Technique | Unobservable Inputs | Significant Unobservable Input Value | ||||||||||||||||
June 30, 2014 | Min. | Max. | Weighted Avg. | |||||||||||||||||
Indemnification asset | $ | 6,460 | Discounted cash flow | Discount rate | 4.35 | % | - | 4.35% | 4.35% | |||||||||||
Reinstatement rate | 6.54 | % | - | 66.48% | 31.40% | (1) | ||||||||||||||
Loss duration (in months) | 9 | - | 81 | 38 | (1) | |||||||||||||||
Loss severity | (1.90 | )% | - | 13.25% | 6.74% | (1) | ||||||||||||||
IRLCs, net | 10,252 | Discounted cash flow | Loan closing ratio | 0 | % | - | 99.00% | 53.28% | (2) | |||||||||||
Loans held for sale | 156,546 | Discounted cash flow | Cost of funds | 2.4 | % | - | 3.25% | 2.98% | ||||||||||||
Prepayment rate | 5.07 | % | - | 17.03% | 9.15% | |||||||||||||||
Default rate | 0 | % | - | 4.41% | 0.53% | |||||||||||||||
Weighted average life (in years) | 4.75 | - | 10.61 | 7.83 | ||||||||||||||||
Cumulative loss | 0 | % | - | 2.43% | 0.09% | |||||||||||||||
Loss severity | 1.94 | % | - | 30.08% | 12.58% | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Indemnification asset | $ | 7,531 | Discounted cash flow | Discount rate | 4.35 | % | - | 4.35% | 4.35% | |||||||||||
Reinstatement rate | 0 | % | - | 68.98% | 23.61% | (1) | ||||||||||||||
Loss duration (in months) | 9 | - | 100 | 36 | (1) | |||||||||||||||
Loss severity | (4.96 | )% | - | 19.70% | 6.54% | (1) | ||||||||||||||
IRLCs, net | (1,670 | ) | Discounted cash flow | Loan closing ratio | 0 | % | - | 99.00% | 79.74% | (2) | ||||||||||
Loans held for sale | 58,912 | Discounted cash flow | Cost of funds | 2.81 | % | - | 3.75% | 3.45% | ||||||||||||
Prepayment rate | 4.68 | % | - | 14.78% | 7.58% | |||||||||||||||
Default rate | 0 | % | - | 2.25% | 0.18% | |||||||||||||||
Weighted average life (in years) | 5.05 | - | 10.74 | 8.25 | ||||||||||||||||
Cumulative loss | 0 | % | - | 0.61% | 0.04% | |||||||||||||||
Loss severity | 0 | % | - | 27.20% | 19.68% | |||||||||||||||
-1 | The range represents the sum of the highest and lowest values for all tranches that we use in our valuation process. | |||||||||||||||||||
-2 | The range represents the highest and lowest loan closing rates used in the IRLC valuation. The range includes the closing ratio for rate locks unclosed at the end of the period, as well as the closing ratio for loans which have settled during the period. | |||||||||||||||||||
Fair Value, Measurements, Nonrecurring [Member] | ' | |||||||||||||||||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | |||||||||||||||||||
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | ' | |||||||||||||||||||
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at June 30, 2014 and December 31, 2013: | ||||||||||||||||||||
Level 3 Fair Value Measurement | Fair Value | Valuation Technique | Unobservable Inputs | Significant Unobservable Input Value | ||||||||||||||||
June 30, 2014 | Min. | Max. | Weighted Avg. | |||||||||||||||||
Collateral-dependent loans | $ | 11,699 | Appraised value | Appraised value | NM | - | NM | N/A | (1) | |||||||||||
Other real estate owned | 5,159 | Appraised value | Appraised value | NM | - | NM | N/A | (1) | ||||||||||||
Mortgage servicing rights | 64,877 | Discounted cash flow | Prepayment speed | 16.44 | % | - | 18.19% | 17.07% | (2) | |||||||||||
Discount rate | 9.84 | % | - | 9.87% | 9.85% | (3) | ||||||||||||||
Loans held for sale | 2,447 | Discounted cash flow | Cost of funds | 2.4 | % | - | 3.25% | 2.98% | ||||||||||||
Prepayment rate | 5.07 | % | - | 17.03% | 9.15% | |||||||||||||||
Default rate | 0 | % | - | 4.41% | 0.53% | |||||||||||||||
Weighted average life (in years) | 4.75 | - | 10.61 | 7.83 | ||||||||||||||||
Cumulative loss | 0 | % | - | 2.43% | 0.09% | |||||||||||||||
Loss severity | 1.94 | % | - | 30.08% | 12.58% | |||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Collateral-dependent loans | $ | 907 | Sales comparison approach | Appraisal value adjustment | 0 | % | - | 47.00% | N/A | (1) | ||||||||||
Other real estate owned | 7,009 | Sales comparison approach | Appraisal value adjustment | 0 | % | - | 82.00% | N/A | (1) | |||||||||||
Mortgage servicing rights | 448,925 | Discounted cash flow | Prepayment speed | 16.5 | % | - | 19.80% | 19.25% | (2) | |||||||||||
Discount rate | 9.2 | % | - | 9.80% | 9.37% | (3) | ||||||||||||||
Loans held for sale | 9,123 | Discounted cash flow | Cost of funds | 2.81 | % | - | 3.75% | 3.45% | ||||||||||||
Prepayment rate | 4.68 | % | - | 14.78% | 7.58% | |||||||||||||||
Default rate | 0 | % | - | 2.25% | 0.18% | |||||||||||||||
Weighted average life (in years) | 5.05 | - | 10.74 | 8.25 | ||||||||||||||||
Cumulative loss | 0 | % | - | 0.61% | 0.04% | |||||||||||||||
Loss severity | 0 | % | - | 27.20% | 19.68% | |||||||||||||||
-1 | NM - Not Meaningful or N/A Not Applicable | |||||||||||||||||||
-2 | The prepayment speed assumptions include a blend of prepayment speeds that are influenced by mortgage interest rates, the current macroeconomic environment and borrower behaviors and may vary over the expected life of the asset. The range represents the highest and lowest values for the strata with recoveries on previous valuation allowances. | |||||||||||||||||||
-3 | The discount rate range represents the highest and lowest values for the MSR strata with recoveries on previous valuation allowances. |
Commitments_and_Contingencies_2
Commitments and Contingencies (Tables) | 6 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||||
Unfunded Credit Extension Commitments [Table Text Block] | ' | |||||||||||
Unfunded credit extension commitments at June 30, 2014 and December 31, 2013 are as follows: | ||||||||||||
June 30, | December 31, | |||||||||||
2014 | 2013 | |||||||||||
Commercial lines of credit (1) | $ | 1,096,964 | $ | 1,467,894 | ||||||||
Home equity lines of credit | 24,443 | 28,780 | ||||||||||
Credit card lines of credit | 32,823 | 34,627 | ||||||||||
Standby letters of credit | 1,147 | 1,140 | ||||||||||
Total unfunded credit extension commitments | $ | 1,155,377 | $ | 1,532,441 | ||||||||
-1 | Unfunded commercial commitments include $667,225 and $1,075,781 of conditional commitments for which certain requirements must be met in order to obtain an advance under the existing commitment as of June 30, 2014 and December 31, 2013, respectively. Of these commitments, $426,073 and $360,165 were cancellable by the Company at June 30, 2014 and December 31, 2013, respectively. | |||||||||||
Unfunded Commitments Pipeline [Table Text Block] | ' | |||||||||||
The contractual amounts of the Company's commitments to lend in the held for investment origination pipeline at June 30, 2014 and December 31, 2013 are as follows: | ||||||||||||
June 30, | December 31, | |||||||||||
2014 | 2013 | |||||||||||
Residential | $ | 672,767 | $ | 531,642 | ||||||||
Commercial | 545,574 | 208,480 | ||||||||||
Leasing | 284,729 | 168,857 | ||||||||||
Total commitments to lend in the pipeline | $ | 1,503,070 | $ | 908,979 | ||||||||
Schedule of FHLB Forward-Dated Agreements [Table Text Block] | ' | |||||||||||
The outstanding forward-dated agreements as of June 30, 2014 are as follows: | ||||||||||||
Agreement Date | Funding Date | Amount | Interest Rate | Maturity Date | ||||||||
Sep-13 | Sep-14 | $ | 50,000 | 2.1 | % | Sep-18 | ||||||
Jan-14 | Nov-14 | 100,000 | 2.91 | % | Feb-21 | |||||||
May-14 | Nov-15 | 20,000 | 2.87 | % | May-21 | |||||||
May-14 | Nov-15 | 60,000 | 3.48 | % | May-24 | |||||||
Variable_Interest_Entities_Tab
Variable Interest Entities (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Variable Interest Entities [Abstract] | ' | |||||||||||||||
Schedule of Variable Interest Entities [Table Text Block] | ' | |||||||||||||||
The table below summarizes select information related to variable interests held by the Company at June 30, 2014 and December 31, 2013: | ||||||||||||||||
June 30, 2014 | December 31, 2013 | |||||||||||||||
Non-consolidated VIEs | Total Assets | Maximum Exposure | Total Assets | Maximum Exposure | ||||||||||||
Loans provided to VIEs | $ | 135,138 | $ | 135,138 | $ | 150,749 | $ | 150,749 | ||||||||
On-balance-sheet securitizations | 112,976 | 112,976 | 50,534 | 50,534 | ||||||||||||
Debt securities | 1,147,902 | 1,147,902 | 1,219,915 | 1,219,915 | ||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 6 Months Ended | |||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||
Segment Information [Abstract] | ' | |||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||||||||||
The results of each segment are reported on a continuing basis. The following table presents financial information of reportable business segments as of and for the three and six months ended June 30, 2014 and 2013. The eliminations column includes intersegment eliminations required for consolidation purposes. | ||||||||||||||||||||
As of and for the Three Months Ended June 30, 2014 | ||||||||||||||||||||
Consumer Banking | Commercial Banking | Corporate Services | Eliminations | Consolidated | ||||||||||||||||
Net interest income (expense) | $ | 79,994 | $ | 61,780 | $ | (1,583 | ) | $ | — | $ | 140,191 | |||||||||
Total net revenue | 159,674 | 71,082 | (1,297 | ) | — | 229,459 | ||||||||||||||
Intersegment revenue | 15,444 | (15,444 | ) | — | — | — | ||||||||||||||
Depreciation and amortization | 2,321 | 3,707 | 1,955 | — | 7,983 | |||||||||||||||
Income before income taxes | 42,836 | 39,078 | (25,898 | ) | — | 56,016 | ||||||||||||||
Total assets | 12,864,427 | 6,973,288 | 186,630 | (270,525 | ) | 19,753,820 | ||||||||||||||
As of and for the Three Months Ended June 30, 2013 | ||||||||||||||||||||
Consumer Banking | Commercial Banking | Corporate Services | Eliminations | Consolidated | ||||||||||||||||
Net interest income (expense) | $ | 78,354 | $ | 64,437 | $ | (1,574 | ) | $ | — | $ | 141,217 | |||||||||
Total net revenue | 212,374 | (1) | 76,972 | (1,325 | ) | — | 288,021 | |||||||||||||
Intersegment revenue | 14,558 | (14,558 | ) | — | — | — | ||||||||||||||
Depreciation and amortization | 2,654 | 5,782 | 1,785 | — | 10,221 | |||||||||||||||
Income before income taxes | 53,712 | (1) | 45,711 | (24,971 | ) | — | 74,452 | |||||||||||||
Total assets | 12,012,522 | 6,381,921 | 194,395 | (225,966 | ) | 18,362,872 | ||||||||||||||
As of and for the Six Months Ended June 30, 2014 | ||||||||||||||||||||
Consumer Banking | Commercial Banking | Corporate | Eliminations | Consolidated | ||||||||||||||||
Services | ||||||||||||||||||||
Net interest income (expense) | $ | 152,118 | $ | 122,084 | $ | (3,167 | ) | $ | — | $ | 271,035 | |||||||||
Total net revenue | 306,129 | (2) | 141,502 | (2,744 | ) | — | 444,887 | |||||||||||||
Intersegment revenue | 30,697 | (30,697 | ) | — | — | — | ||||||||||||||
Depreciation and amortization | 4,596 | 8,269 | 3,871 | — | 16,736 | |||||||||||||||
Income before income taxes | 75,862 | (2) | 84,215 | (52,916 | ) | — | 107,161 | |||||||||||||
Total assets | 12,864,427 | 6,973,288 | 186,630 | (270,525 | ) | 19,753,820 | ||||||||||||||
As of and for the Six Months Ended June 30, 2013 | ||||||||||||||||||||
Consumer Banking | Commercial Banking | Corporate | Eliminations | Consolidated | ||||||||||||||||
Services | ||||||||||||||||||||
Net interest income (expense) | $ | 156,883 | $ | 131,295 | $ | (3,145 | ) | $ | — | $ | 285,033 | |||||||||
Total net revenue | 411,868 | (1) | 156,015 | (2,737 | ) | — | 565,146 | |||||||||||||
Intersegment revenue | 27,870 | (27,870 | ) | — | — | — | ||||||||||||||
Depreciation and amortization | 5,275 | 11,515 | 3,331 | — | 20,121 | |||||||||||||||
Income before income taxes | 105,513 | (1) | 83,787 | (51,458 | ) | — | 137,842 | |||||||||||||
Total assets | 12,012,522 | 6,381,921 | 194,395 | (225,966 | ) | 18,362,872 | ||||||||||||||
-1 | Segment earnings in the Consumer Banking segment included a $32,572 recovery on the MSR valuation allowance for the three months ended June 30, 2013 and a $45,127 recovery on the MSR valuation allowance for the six months ended June 30, 2013. | |||||||||||||||||||
-2 | Segment earnings in the Consumer Banking segment included a $4,941 recovery on the MSR valuation allowance for the six months ended June 30, 2014. |
Organization_and_Basis_of_Pres2
Organization and Basis of Presentation Supplemental Disclosures of Cash Flow Information (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Loans Transferred to Foreclosure Claims | ' | ' | $185,417 | $318,820 |
Transfer of Loans Held-for-sale to Portfolio Loans | ' | ' | ' | 745,262 |
Transfer of Portfolio Loans and Leases to Held-for-sale | ' | 224,652 | 1,432,337 | 326,636 |
Residential Mortgage [Member] | ' | ' | ' | ' |
Transfer of Loans Held-for-sale to Portfolio Loans | $12,434 | $721,220 | $38,785 | $745,660 |
Investment_Securities_Textual_
Investment Securities Textual (Details) (USD $) | 3 Months Ended | 6 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 |
Debt Securities [Member] | Debt Securities [Member] | Residential CMO securities - nonagency [Member] | Residential CMO securities - nonagency [Member] | Residential Collateralized Mortgage Obligations Securities Issued by US Government Sponsored Enterprises [Member] | Residential Collateralized Mortgage Obligations Securities Issued by US Government Sponsored Enterprises [Member] | Residential MBS - agency [Member] | Residential MBS - agency [Member] | Asset-backed securities (ABS) [Member] | Asset-backed securities (ABS) [Member] | ||||||
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net | ' | ' | $685 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pledged securities | 177,643 | ' | 177,643 | ' | 181,836 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Realized Investment Gains (Losses) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale Securities, Gross Realized Gains | 1,250 | 0 | 1,250 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale Securities, Gross Realized Losses | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Debt Securities Held Unrealized Losses | 39 | ' | 39 | ' | 36 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Debt Securities Held Unrealized Losses Less Than Twelve Months | 23 | ' | 23 | ' | 29 | ' | ' | 22 | 14 | ' | 1 | 1 | 14 | ' | ' |
Number of Debt Securities Held Unrealized Losses More Than Twelve Months | 16 | ' | 16 | ' | 7 | ' | ' | 6 | 4 | 1 | ' | 6 | ' | 3 | 3 |
Securities Continuous Unrealized Loss Position, Aggregate Losses | ' | ' | ' | ' | ' | 3,555 | 5,886 | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of Unrealized Losses of Debt Securities Rated Investment Grade | ' | ' | ' | ' | ' | 2,647 | 4,659 | ' | ' | ' | ' | ' | ' | ' | ' |
Other than Temporary Impairment Losses, Investments | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | ' | ' | ' | ' | ' | ' | ' | $2,669 | $3,275 | ' | ' | ' | ' | $430 | $1,058 |
Investment_Securities_Schedule
Investment Securities Schedule of AFS and HTM Securities (Details) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ' | ' |
Amortized Cost | $1,021,572 | $1,104,370 |
Gross Unrealized Gains | 11,194 | 15,590 |
Gross Unrealized Losses | 3,099 | 4,333 |
Available for sale securities | 1,029,667 | 1,115,627 |
Amortized Cost | 118,614 | 107,312 |
Gross Unrealized Gains | 2,807 | 2,162 |
Gross Unrealized Losses | 456 | 1,553 |
Held to maturity securities | 120,965 | 107,921 |
Held-to-maturity Securities | 118,614 | 107,312 |
Residential CMO securities - agency | ' | ' |
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ' | ' |
Amortized Cost | 35,651 | 41,347 |
Gross Unrealized Gains | 1,190 | 1,408 |
Gross Unrealized Losses | 1 | 5 |
Held to maturity securities | 36,840 | 42,750 |
Held-to-maturity Securities | 35,651 | 41,347 |
Residential CMO securities - nonagency [Member] | ' | ' |
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ' | ' |
Amortized Cost | 1,019,143 | 1,097,293 |
Gross Unrealized Gains | 10,878 | 15,253 |
Gross Unrealized Losses | 2,669 | 3,275 |
Available for sale securities | 1,027,352 | 1,109,271 |
Residential MBS - agency [Member] | ' | ' |
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ' | ' |
Amortized Cost | 82,963 | 65,965 |
Gross Unrealized Gains | 1,617 | 754 |
Gross Unrealized Losses | 455 | 1,548 |
Held to maturity securities | 84,125 | 65,171 |
Held-to-maturity Securities | 82,963 | 65,965 |
Asset-backed securities (ABS) [Member] | ' | ' |
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ' | ' |
Amortized Cost | 2,140 | 4,144 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 430 | 1,058 |
Available for sale securities | 1,710 | 3,086 |
Other Investments [Member] | ' | ' |
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ' | ' |
Amortized Cost | 289 | 2,933 |
Gross Unrealized Gains | 316 | 337 |
Gross Unrealized Losses | 0 | 0 |
Available for sale securities | 605 | 3,270 |
Estimate of Fair Value Measurement [Member] | ' | ' |
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ' | ' |
Held to maturity securities | $120,965 | $107,921 |
Investment_Securities_Unrealiz
Investment Securities Unrealized Losses (Details) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ' | ' |
Number of Debt Securities Held Unrealized Losses Less Than Twelve Months | 23 | 29 |
Number of Debt Securities Held Unrealized Losses More Than Twelve Months | 16 | 7 |
Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ' | ' |
Less Than 12 Months, Fair Value | $171,253 | $225,071 |
Less Than 12 Months, Unrealized Losses | 2,327 | 4,565 |
12 Months Or Greater, Fair Value | 51,156 | 14,018 |
12 Months Or Greater, Unrealized Losses | 1,228 | 1,321 |
Total Fair Value | 222,409 | 239,089 |
Total Unrealized Losses | 3,555 | 5,886 |
Residential CMO securities - nonagency [Member] | ' | ' |
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ' | ' |
Number of Debt Securities Held Unrealized Losses Less Than Twelve Months | 22 | 14 |
Number of Debt Securities Held Unrealized Losses More Than Twelve Months | 6 | 4 |
Less than 12 Months, Unrealized Losses | 2,224 | 3,012 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 26,864 | 10,932 |
12 Months or Greater, Unrealized Losses | 445 | 263 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 194,046 | 180,761 |
Total Unrealized Losses | 2,669 | 3,275 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 167,182 | 169,829 |
Residential CMO securities - agency | ' | ' |
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ' | ' |
Number of Debt Securities Held Unrealized Losses Less Than Twelve Months | ' | 1 |
Number of Debt Securities Held Unrealized Losses More Than Twelve Months | 1 | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 887 |
Less than 12 Months, Unrealized Losses | 0 | 5 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 183 | 0 |
12 Months or Greater, Unrealized Losses | 1 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 183 | 887 |
Total Unrealized Losses | 1 | 5 |
Residential MBS - agency [Member] | ' | ' |
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ' | ' |
Number of Debt Securities Held Unrealized Losses Less Than Twelve Months | 1 | 14 |
Number of Debt Securities Held Unrealized Losses More Than Twelve Months | 6 | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 4,071 | 54,355 |
Less than 12 Months, Unrealized Losses | 103 | 1,548 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 22,399 | 0 |
12 Months or Greater, Unrealized Losses | 352 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 26,470 | 54,355 |
Total Unrealized Losses | 455 | 1,548 |
Asset-backed securities (ABS) [Member] | ' | ' |
Schedule of Available-for-sale and Held-to-maturity Securities [Line Items] | ' | ' |
Number of Debt Securities Held Unrealized Losses More Than Twelve Months | 3 | 3 |
Less than 12 Months, Unrealized Losses | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,710 | 3,086 |
12 Months or Greater, Unrealized Losses | 430 | 1,058 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,710 | 3,086 |
Total Unrealized Losses | 430 | 1,058 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $0 | $0 |
Investment_Securities_Investme
Investment Securities Investment Income (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ' | ' | ' | ' |
Available-for-sale Securities, Gross Realized Gains | $1,250 | $0 | $1,250 | $0 |
Other Interest and Dividend Income | 110 | 317 | 272 | 615 |
Interest and Dividend Income, Securities | 9,818 | 14,813 | 19,649 | 31,063 |
Interest Income, Securities, Operating, Taxable | 8,827 | 14,078 | 18,413 | 29,567 |
Investments [Member] | ' | ' | ' | ' |
Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ' | ' | ' | ' |
Interest income on available for sale securities | 7,972 | 13,420 | 16,777 | 28,285 |
Interest income on held to maturity securities | 855 | 658 | 1,636 | 1,282 |
Other Interest and Dividend Income | $991 | $735 | $1,236 | $1,496 |
Loans_Held_for_Sale_Textual_De
Loans Held for Sale Textual (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Loans held for sale | $1,704,406 | ' | $1,704,406 | ' | $791,382 |
Transfer of Loans Held-for-sale to Portfolio Loans | ' | ' | ' | 745,262 | ' |
Transfer of Portfolio Loans and Leases to Held-for-sale | ' | 224,652 | 1,432,337 | 326,636 | ' |
Servicing Asset at Amrotized Value Originated Additions | 10,552 | 27,491 | 22,104 | 50,992 | ' |
Other Residential Carried at Fair Value [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Loans held for sale | 156,546 | ' | 156,546 | ' | 58,912 |
Residential Mortgage [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Transfer of Loans Held-for-sale to Portfolio Loans | 12,434 | 721,220 | 38,785 | 745,660 | ' |
Variable Interest, Not Primary Beneficiary, Securitizations through Ginnie Mae not Meeting Sale Accounting Criteria [Member] | Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets | $112,976 | ' | $112,976 | ' | $50,534 |
Loans_Held_for_Sale_Details
Loans Held for Sale (Details) (USD $) | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | ||||||||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 |
Loans Receivable [Member] | Loans Receivable [Member] | Loans Held for Sale Carried at Lower of Cost or Market [Member] | Loans Held for Sale Carried at Lower of Cost or Market [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Government insured pool buyouts [Member] | Government insured pool buyouts [Member] | Mortgage warehouse [Member] | Mortgage warehouse [Member] | Other [Member] | Other [Member] | Commercial and Commercial Real Estate [Member] | Other Residential Carried at Fair Value [Member] | Other Residential Carried at Fair Value [Member] | Fair Value Option, Other Eligible Items [Member] | Fair Value Option, Other Eligible Items [Member] | Interest only loan receivable [Domain] | Nonperforming Financing Receivable [Member] | Adjustable Rate Residential Mortgage [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transfer of Loans Held-for-sale to Portfolio Loans | ' | ' | $745,262 | ' | ' | ' | ' | ' | $12,434 | $721,220 | $38,785 | $745,660 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans held for sale | ' | 1,704,406 | ' | 791,382 | ' | ' | 874,460 | 119,011 | ' | ' | ' | ' | 114,751 | 53,823 | 673,400 | 613,459 | 759,709 | 8,939 | 0 | 156,546 | 58,912 | 829,946 | 672,371 | ' | ' | ' |
Transfer of Portfolio Loans and Leases to Held-for-sale | 224,652 | 1,432,337 | 326,636 | ' | 1,291,105 | 1,432,337 | ' | ' | ' | ' | ' | ' | 242,256 | ' | ' | ' | ' | ' | 31,645 | ' | ' | ' | ' | 343,542 | 79,075 | 735,819 |
Financing Receivable, Significant Purchases | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,724,252 | ' | $1,685,352 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans_Held_for_Sale_Loan_Secur
Loans Held for Sale Loan Securitizations (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Servicing Asset at Amrotized Value Originated Additions | $10,552 | $27,491 | $22,104 | $50,992 |
Transfer of Loans Held-for-sale to Portfolio Loans | ' | ' | ' | 745,262 |
Agency Securitizations [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Proceeds received from new securitizations | 1,024,948 | 2,688,840 | 2,212,022 | 5,093,450 |
Repurchased loans | 2,244 | 1,079 | 2,545 | 2,171 |
Nonagency Sales [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Proceeds received from new securitizations | 535,101 | 335,426 | 680,516 | 677,308 |
Repurchased loans | 2,926 | 4,939 | 4,078 | 10,216 |
Residential Mortgage [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Transfer of Loans Held-for-sale to Portfolio Loans | 12,434 | 721,220 | 38,785 | 745,660 |
Residential Mortgage [Member] | Nonagency Sales [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Proceeds received from new securitizations | 524,874 | 335,426 | ' | ' |
Commercial and Commercial Real Estate [Member] | Nonagency Sales [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Proceeds received from new securitizations | $10,227 | $0 | ' | ' |
Loans_and_Leases_Held_for_Inve3
Loans and Leases Held for Investment, Net Textual (Details) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Loans and Leases Held for Investment, Net [Abstract] | ' | ' |
Acquired Credit Impaired Loans and Leases Provision for Loan and Lease Losses | $459 | ($867) |
Loans_and_Leases_Held_for_Inve4
Loans and Leases Held for Investment, Net (Details) (USD $) | 6 Months Ended | |||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans and leases held for investment, net of unearned income | $15,294,644 | ' | $13,252,724 | ' | ' | ' |
Allowance for loan and lease losses | -56,728 | -62,969 | -63,690 | -73,469 | -77,067 | -82,102 |
Total loans and leases held for investment, net | 15,237,916 | ' | 13,189,034 | ' | ' | ' |
Residential Mortgage [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans and leases held for investment, net of unearned income | 8,402,391 | ' | 7,044,743 | ' | ' | ' |
Allowance for loan and lease losses | -20,421 | -25,401 | -26,497 | -28,685 | -30,185 | -33,631 |
Significant purchases in loan and lease receivables [Table Text Block] | 1,724,252 | ' | ' | ' | ' | ' |
Commercial and Commercial Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans and leases held for investment, net of unearned income | 5,170,369 | ' | 4,812,970 | ' | ' | ' |
Allowance for loan and lease losses | -27,943 | -30,267 | -29,987 | -36,881 | -38,535 | -39,863 |
Lease financing receivables [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans and leases held for investment, net of unearned income | 1,577,525 | ' | 1,237,941 | ' | ' | ' |
Allowance for loan and lease losses | -5,565 | -4,312 | -4,273 | -4,073 | -3,590 | -3,181 |
Total loans and leases held for investment, net | 1,271,972 | ' | 1,035,199 | ' | ' | ' |
Home equity lines [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans and leases held for investment, net of unearned income | 138,886 | ' | 151,916 | ' | ' | ' |
Allowance for loan and lease losses | -2,667 | -2,920 | -2,812 | -3,688 | -4,582 | -5,265 |
Consumer and credit card [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans and leases held for investment, net of unearned income | 5,473 | ' | 5,154 | ' | ' | ' |
Allowance for loan and lease losses | -132 | -69 | -121 | -142 | -175 | -162 |
Loans and Finance Receivables [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans and leases held for investment, net of unearned income | 15,294,644 | ' | 13,252,724 | ' | ' | ' |
Total loans and leases held for investment, net | 15,237,916 | ' | 13,189,034 | ' | ' | ' |
Allowance for Loan and Lease Losses [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Allowance for loan and lease losses | -56,728 | ' | -63,690 | ' | ' | ' |
Loan and lease finance receivable [Domain] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Loans and leases held for investment, net of unearned income | 1,577,525 | ' | 1,237,941 | ' | ' | ' |
Significant purchases in loan and lease receivables [Table Text Block] | $86,042 | ' | ' | ' | ' | ' |
Loans_and_Leases_Held_for_Inve5
Loans and Leases Held for Investment, Net Net Purchase Loan/Lease Fees (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Loans and Leases Held for Investment, Net [Abstract] | ' | ' |
Net purchased loan and leases discounts | $53,134 | $102,416 |
Net deferred loan and lease origiantaion costs | $69,849 | $54,107 |
Loans_and_Leases_Held_for_Inve6
Loans and Leases Held for Investment, Net Acquired Portfolio of Loans and Leases with Evidence of Credit Deterioration (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $2,416,729 | $978,241 | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 2,967,742 | ' | 345,890 | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Cash Flows Expected to be Collected at Acquisition | 1,820,898 | ' | 193,549 | ' |
Outstanding unpaid principal balance or contractual net investment | 2,461,337 | 1,035,401 | ' | ' |
Allowance for loan and lease losses | 12,708 | 14,759 | ' | 21,964 |
Acquired Credit Impaired Loans And Leases Outstanding Basis at Acquisition | 1,724,252 | ' | 179,027 | ' |
Commercial and Commercial Real Estate [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 276,304 | 331,771 | ' | ' |
Outstanding unpaid principal balance or contractual net investment | 277,579 | 339,179 | ' | ' |
Allowance for loan and lease losses | 8,025 | 9,834 | ' | 16,789 |
Residential Portfolio Segment [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 2,140,425 | 646,470 | ' | ' |
Outstanding unpaid principal balance or contractual net investment | 2,183,758 | 696,222 | ' | ' |
Allowance for loan and lease losses | $4,683 | $4,925 | ' | $5,175 |
Loans_and_Leases_Held_for_Inve7
Loans and Leases Held for Investment, Net Schedule of Changes in Accretable Yields of Acquired Loans (Details) (USD $) | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Accretable Yield | $252,468 | $227,522 | $160,846 | $220,408 |
Additions | 96,646 | 12,173 | ' | ' |
Accretion | -37,580 | -35,687 | ' | ' |
Reclassifications (from) to accretable yield | 32,556 | 30,628 | ' | ' |
Tygris [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 12,677 | ' | 24,330 | ' |
Residential Portfolio Segment [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Accretable Yield | 180,575 | 110,755 | 101,183 | 111,868 |
Additions | 96,646 | 12,173 | ' | ' |
Accretion | -26,974 | -18,615 | ' | ' |
Reclassifications (from) to accretable yield | 9,720 | 5,329 | ' | ' |
Commercial and Commercial Real Estate [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Accretable Yield | 71,893 | 116,767 | 59,663 | 108,540 |
Additions | 0 | 0 | ' | ' |
Accretion | -10,606 | -17,072 | ' | ' |
Reclassifications (from) to accretable yield | $22,836 | $25,299 | ' | ' |
Loans_and_Leases_Held_for_Inve8
Loans and Leases Held for Investment, Net Covered Loans and Leases Recorded Investment (Details) (Tygris [Member], USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Tygris [Member] | ' | ' |
Covered Loans and Leases Recorded Investment [Line Items] | ' | ' |
Total recorded investment of covered loans and leases | $12,677 | $24,330 |
Allowance_for_Loan_and_Lease_L3
Allowance for Loan and Lease Losses Change in ALLL (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses, Adjustments, Net | ($5,240) | ' | ($5,240) | ' | ' | ' | ' | ' |
Financing Receivable, TDR Modifications, Number of Contracts | ' | 7 | ' | 20 | ' | ' | ' | ' |
Financing Receivable, TDR Modifications, Pre-Modification Recorded Investment | ' | 3,619 | ' | 9,583 | ' | ' | ' | ' |
Financing Receivable, TDR Modifications, Post-Modification Recorded Investment | ' | 3,629 | ' | 9,605 | ' | ' | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 92,484 | 177,397 | 99,395 | 180,776 | ' | ' | ' | ' |
Loans and Leases Held for Investment, Allowance | 56,728 | 73,469 | 56,728 | 73,469 | 62,969 | 63,690 | 77,067 | 82,102 |
Provision for Loan and Lease Losses | 6,123 | 29 | 9,194 | 1,948 | ' | ' | ' | ' |
Charge-offs | -7,645 | -7,684 | -12,335 | -15,417 | ' | ' | ' | ' |
Recoveries | 521 | 4,057 | 1,419 | 4,836 | ' | ' | ' | ' |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 814 | 956 | 1,597 | 1,942 | ' | ' | ' | ' |
Residential Portfolio Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 49,516 | 95,736 | 63,168 | 95,582 | ' | ' | ' | ' |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 418 | 706 | 1,035 | 1,476 | ' | ' | ' | ' |
Residential Mortgage [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses, Adjustments, Net | -5,049 | ' | -5,049 | ' | ' | ' | ' | ' |
Loans and Leases Held for Investment, Allowance | 20,421 | 28,685 | 20,421 | 28,685 | 25,401 | 26,497 | 30,185 | 33,631 |
Provision for Loan and Lease Losses | 1,628 | 1,654 | 3,131 | 3,166 | ' | ' | ' | ' |
Charge-offs | -1,810 | -3,271 | -4,975 | -8,340 | ' | ' | ' | ' |
Recoveries | 251 | 117 | 817 | 228 | ' | ' | ' | ' |
Commercial and Commercial Real Estate [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses, Adjustments, Net | 0 | ' | 0 | ' | ' | ' | ' | ' |
Loans and Leases Held for Investment, Allowance | 27,943 | 36,881 | 27,943 | 36,881 | 30,267 | 29,987 | 38,535 | 39,863 |
Provision for Loan and Lease Losses | 2,390 | -2,422 | 2,674 | -2,746 | ' | ' | ' | ' |
Charge-offs | -4,714 | -2,781 | -4,719 | -4,228 | ' | ' | ' | ' |
Recoveries | 0 | 3,549 | 1 | 3,992 | ' | ' | ' | ' |
Lease financing receivables [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses, Adjustments, Net | 0 | ' | 0 | ' | ' | ' | ' | ' |
Loans and Leases Held for Investment, Allowance | 5,565 | 4,073 | 5,565 | 4,073 | 4,312 | 4,273 | 3,590 | 3,181 |
Provision for Loan and Lease Losses | 1,995 | 1,218 | 3,033 | 2,256 | ' | ' | ' | ' |
Charge-offs | -938 | -988 | -2,127 | -1,696 | ' | ' | ' | ' |
Recoveries | 196 | 253 | 386 | 332 | ' | ' | ' | ' |
Home equity lines [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses, Adjustments, Net | -191 | ' | -191 | ' | ' | ' | ' | ' |
Loans and Leases Held for Investment, Allowance | 2,667 | 3,688 | 2,667 | 3,688 | 2,920 | 2,812 | 4,582 | 5,265 |
Provision for Loan and Lease Losses | 27 | -387 | 310 | -710 | ' | ' | ' | ' |
Charge-offs | -163 | -627 | -479 | -1,116 | ' | ' | ' | ' |
Recoveries | 74 | 120 | 215 | 249 | ' | ' | ' | ' |
Consumer and credit card [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses, Adjustments, Net | 0 | ' | 0 | ' | ' | ' | ' | ' |
Loans and Leases Held for Investment, Allowance | 132 | 142 | 132 | 142 | 69 | 121 | 175 | 162 |
Provision for Loan and Lease Losses | 83 | -34 | 46 | -18 | ' | ' | ' | ' |
Charge-offs | -20 | -17 | -35 | -37 | ' | ' | ' | ' |
Recoveries | 0 | 18 | 0 | 35 | ' | ' | ' | ' |
Commercial Loan [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 1 | 4,786 | 0 | 5,544 | ' | ' | ' | ' |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 0 | 0 | 0 | 2 | ' | ' | ' | ' |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 42,967 | 76,875 | 36,227 | 79,650 | ' | ' | ' | ' |
Impaired Financing Receivable, Interest Income, Cash Basis Method | $396 | $250 | $562 | $464 | ' | ' | ' | ' |
Allowance_for_Loan_and_Lease_L4
Allowance for Loan and Lease Losses ALLL and Recorded Investment Breakout (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses, Individually Evaluated for Impairment | $4,296 | ' | $9,382 | ' | ' | ' |
Allowance for Loan and Lease Losses, Collectively Evaluated for Impairment | 39,724 | ' | 39,549 | ' | ' | ' |
Allowance for Loan and Lease Losses, ACI Loans | 12,708 | ' | 14,759 | ' | ' | ' |
Allowance for Loan and Lease Losses, Total allowance | 56,728 | 62,969 | 63,690 | 73,469 | 77,067 | 82,102 |
Loans and Leases Held for Investment at Recorded Investment, Individually Evaluated for Impairment | 71,598 | ' | 113,219 | ' | ' | ' |
Loans and Leases Held for Investment at Recorded Investment, Collectively Evaluated for Impairment | 12,793,609 | ' | 12,146,505 | ' | ' | ' |
Loans and Leases Held for Investment at Recorded Investment, ACI Loans | 2,429,437 | ' | 993,000 | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 15,294,644 | ' | 13,252,724 | ' | ' | ' |
Residential Mortgage [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses, Individually Evaluated for Impairment | 2,823 | ' | 9,134 | ' | ' | ' |
Allowance for Loan and Lease Losses, Collectively Evaluated for Impairment | 12,915 | ' | 12,438 | ' | ' | ' |
Allowance for Loan and Lease Losses, ACI Loans | 4,683 | ' | 4,925 | ' | ' | ' |
Allowance for Loan and Lease Losses, Total allowance | 20,421 | 25,401 | 26,497 | 28,685 | 30,185 | 33,631 |
Loans and Leases Held for Investment at Recorded Investment, Individually Evaluated for Impairment | 15,792 | ' | 90,472 | ' | ' | ' |
Loans and Leases Held for Investment at Recorded Investment, Collectively Evaluated for Impairment | 6,241,491 | ' | 6,302,876 | ' | ' | ' |
Loans and Leases Held for Investment at Recorded Investment, ACI Loans | 2,145,108 | ' | 651,395 | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 8,402,391 | ' | 7,044,743 | ' | ' | ' |
Commercial and Commercial Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses, Individually Evaluated for Impairment | 1,473 | ' | 248 | ' | ' | ' |
Allowance for Loan and Lease Losses, Collectively Evaluated for Impairment | 18,445 | ' | 19,905 | ' | ' | ' |
Allowance for Loan and Lease Losses, ACI Loans | 8,025 | ' | 9,834 | ' | ' | ' |
Allowance for Loan and Lease Losses, Total allowance | 27,943 | 30,267 | 29,987 | 36,881 | 38,535 | 39,863 |
Loans and Leases Held for Investment at Recorded Investment, Individually Evaluated for Impairment | 55,806 | ' | 22,747 | ' | ' | ' |
Loans and Leases Held for Investment at Recorded Investment, Collectively Evaluated for Impairment | 4,830,234 | ' | 4,448,618 | ' | ' | ' |
Loans and Leases Held for Investment at Recorded Investment, ACI Loans | 284,329 | ' | 341,605 | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 5,170,369 | ' | 4,812,970 | ' | ' | ' |
Lease financing receivables [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses, Individually Evaluated for Impairment | 0 | ' | 0 | ' | ' | ' |
Allowance for Loan and Lease Losses, Collectively Evaluated for Impairment | 5,565 | ' | 4,273 | ' | ' | ' |
Allowance for Loan and Lease Losses, ACI Loans | 0 | ' | 0 | ' | ' | ' |
Allowance for Loan and Lease Losses, Total allowance | 5,565 | 4,312 | 4,273 | 4,073 | 3,590 | 3,181 |
Loans and Leases Held for Investment at Recorded Investment, Individually Evaluated for Impairment | 0 | ' | 0 | ' | ' | ' |
Loans and Leases Held for Investment at Recorded Investment, Collectively Evaluated for Impairment | 1,577,525 | ' | 1,237,941 | ' | ' | ' |
Loans and Leases Held for Investment at Recorded Investment, ACI Loans | 0 | ' | 0 | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 1,577,525 | ' | 1,237,941 | ' | ' | ' |
Home equity lines [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses, Individually Evaluated for Impairment | 0 | ' | 0 | ' | ' | ' |
Allowance for Loan and Lease Losses, Collectively Evaluated for Impairment | 2,667 | ' | 2,812 | ' | ' | ' |
Allowance for Loan and Lease Losses, ACI Loans | 0 | ' | 0 | ' | ' | ' |
Allowance for Loan and Lease Losses, Total allowance | 2,667 | 2,920 | 2,812 | 3,688 | 4,582 | 5,265 |
Loans and Leases Held for Investment at Recorded Investment, Individually Evaluated for Impairment | 0 | ' | 0 | ' | ' | ' |
Loans and Leases Held for Investment at Recorded Investment, Collectively Evaluated for Impairment | 138,886 | ' | 151,916 | ' | ' | ' |
Loans and Leases Held for Investment at Recorded Investment, ACI Loans | 0 | ' | 0 | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 138,886 | ' | 151,916 | ' | ' | ' |
Consumer and credit card [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses, Individually Evaluated for Impairment | 0 | ' | 0 | ' | ' | ' |
Allowance for Loan and Lease Losses, Collectively Evaluated for Impairment | 132 | ' | 121 | ' | ' | ' |
Allowance for Loan and Lease Losses, ACI Loans | 0 | ' | 0 | ' | ' | ' |
Allowance for Loan and Lease Losses, Total allowance | 132 | 69 | 121 | 142 | 175 | 162 |
Loans and Leases Held for Investment at Recorded Investment, Individually Evaluated for Impairment | 0 | ' | 0 | ' | ' | ' |
Loans and Leases Held for Investment at Recorded Investment, Collectively Evaluated for Impairment | 5,473 | ' | 5,154 | ' | ' | ' |
Loans and Leases Held for Investment at Recorded Investment, ACI Loans | 0 | ' | 0 | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 5,473 | ' | 5,154 | ' | ' | ' |
Total Residential, Leasing, Home Equity Line of Credit and Consumer and Credit Card [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 10,124,275 | ' | 8,439,754 | ' | ' | ' |
Performing Financing Receivable [Member] | Lease financing receivables [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 1,568,879 | ' | 1,233,414 | ' | ' | ' |
Performing Financing Receivable [Member] | Home equity lines [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 136,983 | ' | 148,646 | ' | ' | ' |
Performing Financing Receivable [Member] | Consumer and credit card [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 5,453 | ' | 5,117 | ' | ' | ' |
Performing Financing Receivable [Member] | Total Residential, Leasing, Home Equity Line of Credit and Consumer and Credit Card [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | $9,538,490 | ' | $7,703,485 | ' | ' | ' |
Allowance_for_Loan_and_Lease_L5
Allowance for Loan and Lease Losses Schedule of Recorded Investment Credit Quality Indicators (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Acquired with Deteriorated Credit Quality | $2,429,437 | $993,000 |
Loans and Leases Receivable, Net of Deferred Income | 15,294,644 | 13,252,724 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 560,543 | 671,918 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 67,243 | 82,900 |
Mortgage Warehouse Finance [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 1,310,611 | 944,219 |
Mortgage Warehouse Finance [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 1,310,611 | 944,219 |
Mortgage Warehouse Finance [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 |
Mortgage Warehouse Finance [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 |
Mortgage Warehouse Finance [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 |
Lender finance [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 625,335 | 592,621 |
Lender finance [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 625,335 | 592,621 |
Lender finance [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 |
Lender finance [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 |
Lender finance [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 |
Other commercial finance [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 80,522 | 85,880 |
Other commercial finance [Member] | Nonperforming Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 1,005 |
Other commercial finance [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 79,997 | 84,639 |
Other commercial finance [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 0 | 135 |
Other commercial finance [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 525 | 1,106 |
Other commercial finance [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 |
Residential Portfolio Segment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 5,205,043 | 5,153,106 |
Residential Portfolio Segment [Member] | Performing Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 5,190,370 | 5,096,589 |
Residential Portfolio Segment [Member] | Nonperforming Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 14,673 | 56,517 |
Government insured pool buyouts [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 3,197,348 | 1,891,637 |
Government insured pool buyouts [Member] | Performing Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 2,636,805 | 1,219,719 |
Government insured pool buyouts [Member] | Nonperforming Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 560,543 | 671,918 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 |
Lease financing receivables [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Acquired with Deteriorated Credit Quality | 0 | 0 |
Loans and Leases Receivable, Net of Deferred Income | 1,577,525 | 1,237,941 |
Lease financing receivables [Member] | Performing Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 1,568,879 | 1,233,414 |
Lease financing receivables [Member] | Nonperforming Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 8,646 | 4,527 |
Home equity lines [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Acquired with Deteriorated Credit Quality | 0 | 0 |
Loans and Leases Receivable, Net of Deferred Income | 138,886 | 151,916 |
Home equity lines [Member] | Performing Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 136,983 | 148,646 |
Home equity lines [Member] | Nonperforming Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,903 | 3,270 |
Consumer and credit card [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Acquired with Deteriorated Credit Quality | 0 | 0 |
Loans and Leases Receivable, Net of Deferred Income | 5,473 | 5,154 |
Consumer and credit card [Member] | Performing Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 5,453 | 5,117 |
Consumer and credit card [Member] | Nonperforming Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 20 | 37 |
Residential, Leasing, Home Equity Line of Credit and Consumer and Credit Card [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 10,124,275 | 8,439,754 |
Residential, Leasing, Home Equity Line of Credit and Consumer and Credit Card [Member] | Performing Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 9,538,490 | 7,703,485 |
Residential, Leasing, Home Equity Line of Credit and Consumer and Credit Card [Member] | Nonperforming Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 560,543 | 671,918 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 25,242 | 64,351 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 3,153,901 | 3,190,250 |
Commercial Real Estate [Member] | Nonperforming Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 42,001 | 17,544 |
Commercial Real Estate [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 2,947,992 | 2,989,493 |
Commercial Real Estate [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 32,890 | 34,012 |
Commercial Real Estate [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 173,019 | 166,745 |
Commercial Real Estate [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 |
Commercial and Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Acquired with Deteriorated Credit Quality | 284,329 | 341,605 |
Loans and Leases Receivable, Net of Deferred Income | 5,170,369 | 4,812,970 |
Commercial and Commercial Real Estate [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 4,963,935 | 4,610,972 |
Commercial and Commercial Real Estate [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 32,890 | 34,147 |
Commercial and Commercial Real Estate [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 173,544 | 167,851 |
Commercial and Commercial Real Estate [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 |
90 Days Past Due and Accruing [Member] | Residential Portfolio Segment [Member] | Performing Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Acquired with Deteriorated Credit Quality | 6,135 | 7,879 |
90 Days Past Due and Accruing [Member] | Government insured pool buyouts [Member] | Performing Financing Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Acquired with Deteriorated Credit Quality | $1,819,917 | $350,312 |
Allowance_for_Loan_and_Lease_L6
Allowance for Loan and Lease Losses Past Due (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 30 to 59 Days Past Due | $86,446 | $113,763 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 60 to 89 Days Past Due | 54,066 | 63,857 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Equal to Greater than 90 Days Past Due | 579,617 | 733,771 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Total Past Due | 720,129 | 911,391 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Current | 12,145,078 | 11,348,333 |
Loans and Leases Receivable, Net of Deferred Income and Aquired Credit Impaired | 12,865,207 | 12,259,724 |
Residential Portfolio Segment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 30 to 59 Days Past Due | 8,578 | 10,145 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 60 to 89 Days Past Due | 4,315 | 4,683 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Equal to Greater than 90 Days Past Due | 14,673 | 56,517 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Total Past Due | 27,566 | 71,345 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Current | 5,118,165 | 5,011,257 |
Loans and Leases Receivable, Net of Deferred Income and Aquired Credit Impaired | 5,145,731 | 5,082,602 |
Government insured pool buyouts [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 30 to 59 Days Past Due | 65,432 | 90,795 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 60 to 89 Days Past Due | 46,261 | 55,666 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Equal to Greater than 90 Days Past Due | 560,543 | 671,918 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Total Past Due | 672,236 | 818,379 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Current | 439,316 | 492,367 |
Loans and Leases Receivable, Net of Deferred Income and Aquired Credit Impaired | 1,111,552 | 1,310,746 |
Mortgage Warehouse Finance [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 30 to 59 Days Past Due | 0 | 0 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | 0 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Total Past Due | 0 | 0 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Current | 1,310,611 | 944,219 |
Loans and Leases Receivable, Net of Deferred Income and Aquired Credit Impaired | 1,310,611 | 944,219 |
Lender finance [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 30 to 59 Days Past Due | 0 | 0 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | 0 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Total Past Due | 0 | 0 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Current | 625,335 | 592,621 |
Loans and Leases Receivable, Net of Deferred Income and Aquired Credit Impaired | 625,335 | 592,621 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 30 to 59 Days Past Due | 1,333 | 2,909 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | 0 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Total Past Due | 1,333 | 2,909 |
Loans and Leases Receivable, Net of Deferred Income and Aquired Credit Impaired | 2,874,284 | 2,856,459 |
Other commercial finance [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 30 to 59 Days Past Due | 0 | 0 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 60 to 89 Days Past Due | 0 | 2 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Equal to Greater than 90 Days Past Due | 0 | 1,005 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Total Past Due | 0 | 1,007 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Current | 75,810 | 77,059 |
Loans and Leases Receivable, Net of Deferred Income and Aquired Credit Impaired | 75,810 | 78,066 |
Lease financing receivables [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 30 to 59 Days Past Due | 9,943 | 7,277 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 60 to 89 Days Past Due | 2,613 | 3,098 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Equal to Greater than 90 Days Past Due | 2,478 | 1,024 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Total Past Due | 15,034 | 11,399 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Current | 1,562,491 | 1,226,542 |
Loans and Leases Receivable, Net of Deferred Income and Aquired Credit Impaired | 1,577,525 | 1,237,941 |
Home equity lines [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 30 to 59 Days Past Due | 1,113 | 2,614 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 60 to 89 Days Past Due | 856 | 396 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Equal to Greater than 90 Days Past Due | 1,903 | 3,270 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Total Past Due | 3,872 | 6,280 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Current | 135,014 | 145,636 |
Loans and Leases Receivable, Net of Deferred Income and Aquired Credit Impaired | 138,886 | 151,916 |
Consumer and credit card [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 30 to 59 Days Past Due | 47 | 23 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, 60 to 89 Days Past Due | 21 | 12 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Equal to Greater than 90 Days Past Due | 20 | 37 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Total Past Due | 88 | 72 |
Loans and Leases Held for Investment, Recorded Investment, Recorded Investment, Current | 5,385 | 5,082 |
Loans and Leases Receivable, Net of Deferred Income and Aquired Credit Impaired | $5,473 | $5,154 |
Allowance_for_Loan_and_Lease_L7
Allowance for Loan and Lease Losses Impaired Loans (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | |||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | $22,423 | ' | $22,423 | ' | $65,251 | |||
Impaired Financing Receivable, Related Allowance | 4,296 | ' | 4,296 | ' | 9,382 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 49,175 | [1] | ' | 49,175 | [1] | ' | 47,968 | [1] |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 50,703 | ' | 50,703 | ' | 58,179 | |||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 22,946 | ' | 22,946 | ' | 68,824 | |||
Impaired Financing Receivable, Average Recorded Investment | 92,484 | 177,397 | 99,395 | 180,776 | ' | |||
Impaired Financing Receivable, Interest Income, Cash Basis Method | 814 | 956 | 1,597 | 1,942 | ' | |||
Residential Portfolio Segment [Member] | ' | ' | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | |||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 10,716 | ' | 10,716 | ' | 64,079 | |||
Impaired Financing Receivable, Related Allowance | 2,823 | ' | 2,823 | ' | 9,134 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 5,076 | ' | 5,076 | ' | 26,393 | |||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 6,040 | ' | 6,040 | ' | 34,898 | |||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 11,212 | ' | 11,212 | ' | 67,663 | |||
Impaired Financing Receivable, Average Recorded Investment | 49,516 | 95,736 | 63,168 | 95,582 | ' | |||
Impaired Financing Receivable, Interest Income, Cash Basis Method | 418 | 706 | 1,035 | 1,476 | ' | |||
Commercial Loan [Member] | ' | ' | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | |||
Impaired Financing Receivable, Average Recorded Investment | 1 | 4,786 | 0 | 5,544 | ' | |||
Impaired Financing Receivable, Interest Income, Cash Basis Method | 0 | 0 | 0 | 2 | ' | |||
Commercial Real Estate [Member] | ' | ' | ' | ' | ' | |||
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' | ' | |||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 11,707 | ' | 11,707 | ' | 1,172 | |||
Impaired Financing Receivable, Related Allowance | 1,473 | ' | 1,473 | ' | 248 | |||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 44,099 | ' | 44,099 | ' | 21,575 | |||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 44,663 | ' | 44,663 | ' | 23,281 | |||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 11,734 | ' | 11,734 | ' | 1,161 | |||
Impaired Financing Receivable, Average Recorded Investment | 42,967 | 76,875 | 36,227 | 79,650 | ' | |||
Impaired Financing Receivable, Interest Income, Cash Basis Method | $396 | $250 | $562 | $464 | ' | |||
[1] | Impaired LoansB b Impaired loans include loans identified as troubled loans as a result of a borrowerbs financial difficulties and other loans on which the accrual of interest income is suspended. The Company continues to collect payments on certain impaired loan balances on which accrual is suspended.The following tables present the unpaid principal balance, the recorded investment and the related allowance for impaired loans as of JuneB 30, 2014 and DecemberB 31, 2013:B JuneB 30, 2014B DecemberB 31, 2013B Unpaid Principal BalanceB Recorded Investment (1)B Related AllowanceB Unpaid Principal BalanceB Recorded Investment (1)B Related AllowanceWith an allowance recorded: Residential mortgages: Residential$11,212B $10,716B $2,823B $67,663B $64,079B $9,134Commercial and commercial real estate: Commercial real estate11,734B 11,707B 1,473B 1,161B 1,172B 248Total impaired loans with an allowance recorded$22,946B $22,423B $4,296B $68,824B $65,251B $9,382 Without a related allowance recorded: Residential mortgages: Residential$6,040B $5,076 $34,898B $26,393 Commercial and commercial real estate: Commercial real estate44,663B 44,099 23,281B 21,575 Total impaired loans without an allowance recorded$50,703B $49,175 $58,179B $47,968 (1)The primary difference between the unpaid principal balance and recorded investment represents charge offs previously taken. |
Allowance_for_Loan_and_Lease_L8
Allowance for Loan and Lease Losses Nonaccrual Status (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | $67,243 | $82,900 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due and Accruing | 560,543 | 671,918 |
Nonperforming Financing Receivable [Member] | Residential Portfolio Segment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 14,673 | 56,517 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due and Accruing | 0 | 0 |
Nonperforming Financing Receivable [Member] | Government insured pool buyouts [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due and Accruing | 560,543 | 671,918 |
Nonperforming Financing Receivable [Member] | Other commercial finance [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 1,005 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due and Accruing | 0 | 0 |
Nonperforming Financing Receivable [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 42,001 | 17,544 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due and Accruing | 0 | 0 |
Nonperforming Financing Receivable [Member] | Lease financing receivables [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 8,646 | 4,527 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due and Accruing | 0 | 0 |
Nonperforming Financing Receivable [Member] | Home equity lines [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,903 | 3,270 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due and Accruing | 0 | 0 |
Nonperforming Financing Receivable [Member] | Consumer and credit card [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 20 | 37 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due and Accruing | 0 | 0 |
Nonperforming Financing Receivable [Member] | Total Residential, Leasing, Home Equity Line of Credit and Consumer and Credit Card [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 25,242 | 64,351 |
Financing Receivable, Recorded Investment, Greater than 90 Days Past Due and Accruing | $560,543 | $671,918 |
Allowance_for_Loan_and_Lease_L9
Allowance for Loan and Lease Losses Troubled Debt Restructurings (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Financing Receivable, TDR Modifications, Number of Contracts | ' | 7 | ' | 20 | ' |
Financing Receivable, TDR Modifications, Pre-Modification Recorded Investment | ' | $3,619 | ' | $9,583 | ' |
Financing Receivable, TDR Modifications, Post-Modification Recorded Investment | ' | 3,629 | ' | 9,605 | ' |
Financing Receivable, TDR Modifications, Subsequent Default, Number of Contracts | ' | 3 | ' | 3 | ' |
Financing Receivable, TDR Modifications, Subsequent Default, Recorded Investment | ' | 1,051 | ' | 1,051 | ' |
Financing Receivables Troubled Debt Restructurings Recorded Investment Current | 12,092 | ' | 12,092 | ' | 73,180 |
Financing Receivables Troubled Debt Restructurings Recorded Investment 30 to 89 Past Due and Accruing | 4,345 | ' | 4,345 | ' | 3,732 |
Financing Receivables Troubled Debt Restructurings Recorded Investment 90 days and greater Past Due and Accruing | 0 | ' | 0 | ' | 306 |
Financing Receivables Troubled Debt Restructurings Recorded Investment Nonaccrual Status | 7,667 | ' | 7,667 | ' | 21,852 |
Financing Receivables Troubled Debt Restructurings Recorded Investment | 24,104 | ' | 24,104 | ' | 99,070 |
Financing Receivables Troubled Debt Restructurings Recorded Investment Impaired | 24,104 | ' | 24,104 | ' | 99,070 |
Valuation Allowance on Troubled Debt Restructurings | 2,859 | ' | 2,859 | ' | 9,134 |
Financing Receivable, TDR Modifications, Number of Loans in Chapter 7 Bankruptcy | 75 | ' | 75 | ' | 133 |
Financing Receivable, TDR Modifications, Chapter 7 Bankruptcy, NRI | 3,340 | ' | 3,340 | ' | 15,988 |
Residential Portfolio Segment [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Financing Receivable, TDR Modifications, Number of Contracts | 3 | 6 | 3 | 18 | ' |
Financing Receivable, TDR Modifications, Pre-Modification Recorded Investment | 1,217 | 2,300 | 1,217 | 7,888 | ' |
Financing Receivable, TDR Modifications, Post-Modification Recorded Investment | 1,218 | 2,310 | 1,218 | 7,910 | ' |
Financing Receivable, TDR Modifications, Subsequent Default, Number of Contracts | 1 | 1 | 1 | 1 | ' |
Financing Receivable, TDR Modifications, Subsequent Default, Recorded Investment | 684 | 187 | 684 | 187 | ' |
Financing Receivables Troubled Debt Restructurings Recorded Investment | 15,792 | ' | 15,792 | ' | 90,472 |
Other commercial finance [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Financing Receivable, TDR Modifications, Subsequent Default, Number of Contracts | ' | 1 | ' | 1 | ' |
Financing Receivable, TDR Modifications, Subsequent Default, Recorded Investment | ' | 728 | ' | 728 | ' |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Financing Receivable, TDR Modifications, Number of Contracts | ' | 1 | ' | 2 | ' |
Financing Receivable, TDR Modifications, Pre-Modification Recorded Investment | ' | 1,319 | ' | 1,695 | ' |
Financing Receivable, TDR Modifications, Post-Modification Recorded Investment | ' | 1,319 | ' | 1,695 | ' |
Financing Receivable, TDR Modifications, Subsequent Default, Number of Contracts | ' | 1 | ' | 1 | ' |
Financing Receivable, TDR Modifications, Subsequent Default, Recorded Investment | ' | 136 | ' | 136 | ' |
Commercial and Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' |
Financing Receivables Troubled Debt Restructurings Recorded Investment | $8,312 | ' | $8,312 | ' | $8,598 |
Servicing_Activities_and_Mortg2
Servicing Activities and Mortgage Servicing Rights Textual (Details) (USD $) | 0 Months Ended | 3 Months Ended | 6 Months Ended | ||||||
In Thousands, unless otherwise specified | Mar. 28, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
Servicing Assets at Amortized Value [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Servicing Asset at Amortized Cost, Disposals | $55,547 | $0 | $0 | $55,547 | $0 | ' | ' | ' | ' |
Unpaid Principal Balance of Servicing Rights Sold | 9,945,965 | ' | ' | ' | ' | ' | ' | ' | ' |
Servicing Asset at Amortized Cost | ' | 437,595 | 462,718 | 437,595 | 462,718 | 446,493 | 506,680 | 375,641 | 375,859 |
Prepayment Penalty Income | ' | 2,718 | 3,221 | 5,348 | 6,396 | ' | ' | ' | ' |
Residential Mortgage [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Servicing Assets at Amortized Value [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Servicing Asset at Fair Value, Amount | ' | 442,765 | ' | 442,765 | ' | ' | 528,848 | ' | ' |
Servicing Asset at Amortized Cost | ' | 433,047 | ' | 433,047 | ' | ' | 499,973 | ' | ' |
Unpaid Principal Balance, Loans Originated and Serviced, Without MSR Basis | ' | 7,588,000 | ' | 7,588,000 | ' | ' | 6,677,000 | ' | ' |
Commercial Loan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Servicing Assets at Amortized Value [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Servicing Asset at Fair Value, Amount | ' | 4,548 | ' | 4,548 | ' | ' | ' | ' | ' |
Servicing Asset at Amortized Cost | ' | $4,548 | ' | $4,548 | ' | ' | $6,707 | ' | ' |
Servicing_Activities_and_Mortg3
Servicing Activities and Mortgage Servicing Rights Rollforward (Details) (USD $) | 0 Months Ended | 3 Months Ended | 6 Months Ended | ||||||
In Thousands, unless otherwise specified | Mar. 28, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
Mortgage Servicing Rights Rollforward: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Servicing Asset at Amortized Cost | ' | $437,595 | $462,718 | $437,595 | $462,718 | $446,493 | $506,680 | $375,641 | $375,859 |
Servicing Asset at Amrotized Value Originated Additions | ' | 10,552 | 27,491 | 22,104 | 50,992 | ' | ' | ' | ' |
Servicing Asset at Amortized Value Acquired Additions | ' | 0 | 63,555 | 0 | 63,555 | ' | ' | ' | ' |
Servicing Asset at Amortized Cost, Disposals | -55,547 | 0 | 0 | -55,547 | 0 | ' | ' | ' | ' |
Amortization | ' | -19,026 | -35,945 | -39,598 | -71,023 | ' | ' | ' | ' |
Decrease (increase) in valuation allowance | ' | 0 | 32,572 | 4,941 | 45,127 | ' | ' | ' | ' |
Servicing Asset at Amortized Cost, Other Changes that Affect Balance, Amount | ' | -424 | -596 | -985 | -1,792 | ' | ' | ' | ' |
Valuation Allowance: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Valuation Allowance, Balance | ' | 3,071 | 57,836 | 3,071 | 57,836 | 3,071 | 8,012 | 90,408 | 102,963 |
Recoveries | ' | $0 | ($32,572) | ($4,941) | ($45,127) | ' | ' | ' | ' |
Servicing_Activities_and_Mortg4
Servicing Activities and Mortgage Servicing Rights Loan Servicing Income (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Servicing Activities and Mortgage Servicing Rights [Abstract] | ' | ' | ' | ' |
Contractually specified servicing fees, net | $31,246 | $38,584 | $68,393 | $70,373 |
Other ancillary fees | 6,645 | 7,993 | 15,544 | 17,730 |
Other | 2,526 | 615 | 3,097 | 1,252 |
Loan Servicing Income | $40,417 | $47,192 | $87,034 | $89,355 |
Servicing_Activities_and_Mortg5
Servicing Activities and Mortgage Servicing Rights Fair Value Assumptions for Securitized/Sold Loans (Details) (Mortgage Servicing Rights [Member], Residential Mortgage [Member]) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Minimum [Member] | ' | ' | ' | ' |
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ' | ' | ' | ' |
Average discount rate | 9.62% | 9.61% | 9.32% | 9.38% |
Expected prepayment speeds | 11.74% | 7.91% | 11.73% | 7.91% |
Average life in years | '6 years 11 days | '5 years 4 months | '6 years 11 days | '5 years 4 months |
Maximum [Member] | ' | ' | ' | ' |
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items] | ' | ' | ' | ' |
Average discount rate | 10.16% | 9.67% | 10.16% | 9.85% |
Expected prepayment speeds | 13.76% | 14.93% | 13.76% | 14.93% |
Average life in years | '6 years 3 months 16 days | '6 years 10 months 29 days | '6 years 4 months 29 days | '6 years 10 months 29 days |
Servicing_Activities_and_Mortg6
Servicing Activities and Mortgage Servicing Rights Fair Value Portfolio Characteristics (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | Mortgage Servicing Rights [Member] | Mortgage Servicing Rights [Member] | ||||
Residential Mortgage [Member] | Residential Mortgage [Member] | |||||
Servicing Assets at Fair Value [Line Items] | ' | ' | ' | ' | ||
Outstanding Principal Balance On Loans Serviced | $49,223,248 | $59,492,239 | $41,635,000 | $52,816,000 | ||
Gross Weighted-Average Coupon | ' | ' | 4.44% | 4.46% | ||
Weighted-Average Servicing Fee | ' | ' | 0.29% | 0.29% | ||
Expected Prepayment Speed | ' | ' | 11.95% | [1] | 14.87% | [1] |
[1] | (1)The prepayment speed assumptions include a blend of prepayment speeds that are influenced by mortgage interest rates, the current macroeconomic environment and borrower behaviors and may vary over the expected life of the asset. |
Servicing_Activities_and_Mortg7
Servicing Activities and Mortgage Servicing Rights Sensitivity Analysis (Details) (Residential Mortgage [Member], Mortgage Servicing Rights [Member], USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Residential Mortgage [Member] | Mortgage Servicing Rights [Member] | ' | ' |
Prepayment Rate [Abstract] | ' | ' |
10% adverse rate change | $19,036 | $22,941 |
20% adverse rate change | 36,751 | 44,156 |
Discount Rate [Abstract] | ' | ' |
10% adverse rate change | 16,273 | 19,303 |
20% adverse rate change | $31,417 | $37,294 |
Other_Borrowings_Textual_Detai
Other Borrowings Textual (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Advances [Abstract] | ' | ' | ' | ' |
Interest Expense, Federal Home Loan Bank Advances | $14,976 | $18,425 | $28,344 | $36,256 |
Other_Borrowings_Details
Other Borrowings (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Other Borrowings [Abstract] | ' | ' |
FHLB Advances | $3,773,000 | $2,353,000 |
Notes Payable | 24,000 | 24,000 |
Other Borrowings | $3,797,000 | $2,377,000 |
Other_Borrowings_Advances_Deta
Other Borrowings Advances (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Federal Home Loan Bank, Advances, Maturities Summary, Fixed Rate | $3,723,000 | $2,353,000 |
Federal Home Loan Bank, Advances, Maturities Summary, Floating Rate | 50,000 | 0 |
Advances from Federal Home Loan Banks | $3,773,000 | $2,353,000 |
Fixed-rate Advance [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt, Weighted Average Interest Rate | 1.16% | 1.60% |
Overnight Advance [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt, Weighted Average Interest Rate | 0.36% | 0.00% |
Other_Borrowings_Contractual_M
Other Borrowings Contractual Maturity (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Contractual Maturities [Abstract] | ' | ' |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Next Twelve Months | $1,970,000 | ' |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Year Two | 331,000 | ' |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Year Three | 190,000 | ' |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Year Four | 380,000 | ' |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Year Five | 260,000 | ' |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Year Five | 80,000 | ' |
Federal Home Loan Bank, Advances, Maturities Summary, Due after Year Five | 562,000 | ' |
Advances from Federal Home Loan Banks | $3,773,000 | $2,353,000 |
Income_Taxes_Details
Income Taxes (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Income Taxes [Abstract] | ' | ' | ' | ' |
Effective Income Tax Rate, Continuing Operations | 37.90% | 38.20% | 37.90% | 38.20% |
ShareBased_Compensation_Textua
Share-Based Compensation Textual (Details) (USD $) | 0 Months Ended | 6 Months Ended |
In Thousands, except Share data, unless otherwise specified | Mar. 07, 2014 | Jun. 30, 2014 |
Share-based Compensation [Abstract] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 675,463 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $6.51 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | ' | 221,032 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value | ' | $2,785 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | 268,678 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | $18.14 |
ShareBased_Compensation_Detail
Share-Based Compensation (Details) | 0 Months Ended |
Mar. 07, 2014 | |
Share-based Compensation [Abstract] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.04% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 35.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | '6 years 6 months |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.86% |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Net income | $34,782 | $45,993 | $66,542 | $85,139 |
Dividends, Preferred Stock | -2,531 | -2,531 | -5,062 | -5,062 |
Net Income Allocated to Common Shareholders | $32,251 | $43,462 | $61,480 | $80,077 |
Average common shares outstanding | 122,840 | 122,281 | 122,763 | 121,934 |
Average common shares outstanding, assuming dilution | 125,389 | 124,034 | 125,205 | 123,735 |
Basic earnings per share | $0.26 | $0.36 | $0.50 | $0.66 |
Diluted earnings per share | $0.26 | $0.35 | $0.49 | $0.65 |
Employee Stock Option [Member] | ' | ' | ' | ' |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Weighted Average Number Diluted Shares Outstanding Adjustment | 2,379 | 1,683 | 2,291 | 1,730 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' |
Weighted Average Number Diluted Shares Outstanding Adjustment | 170 | 70 | 151 | 71 |
Earnings_Per_Share_Antidilutiv
Earnings Per Share Antidilutive Shares (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Stock Options | 1,297,295 | 3,201,156 | 1,058,285 | 4,673,609 |
Derivative_Financial_Instrumen3
Derivative Financial Instruments AOCI Gain Loss to Income next 12 months Textual (Details) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Derivative Financial Instruments [Abstract] | ' |
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | ($18,731) |
Derivative_Financial_Instrumen4
Derivative Financial Instruments Credit Risk Contingent Features Textual (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Credit Derivatives [Line Items] | ' | ' |
Collateral Already Posted, Aggregate Fair Value | $44,025 | $48,500 |
Derivative, Net Liability Position, Aggregate Fair Value | 5,372 | 42,562 |
Derivative Liabilities Cash Collateral Netted | 2,169 | 42,130 |
Collateral Not Netted Aggregate Fair Value | $35,070 | $6,370 |
Derivative_Financial_Instrumen5
Derivative Financial Instruments Counterparty Credit Risk Textual (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivative Financial Instruments [Abstract] | ' | ' |
Derivative Asset Cash Collateral Netted | $4,034 | $6,040 |
Derivative, Collateral, Obligation to Return Cash | $10,820 | $6,040 |
Derivative_Financial_Instrumen6
Derivative Financial Instruments Fair Values of Derivatives by Balance Sheet Location (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset and Liability Positions Netted | $1,715 | $1,763 |
Derivative Asset Netting and Cash Collateral Adjustments | -5,749 | -4,277 |
Derivative Liability Netting and Cash Collateral Adjustments | -3,884 | -40,367 |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Notional Amount of Fair Value Hedge Instruments | 266,623 | 75,239 |
Asset Derivatives, Fair Value, Gross Asset | 0 | 0 |
Liability Derivatives, Fair Value, Gross Liability | 680 | 347 |
Interest Rate Lock Commitments [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Notional Amount of Fair Value Hedge Instruments | 813,921 | 590,020 |
Asset Derivatives, Fair Value, Gross Asset | 10,617 | 896 |
Liability Derivatives, Fair Value, Gross Liability | 365 | 2,566 |
Forward Contracts [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Notional Amount of Fair Value Hedge Instruments | 5,364,403 | 1,001,489 |
Forward Sales Commitments [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives, Fair Value, Gross Asset | 1,862 | 12,228 |
Liability Derivatives, Fair Value, Gross Liability | 10,842 | 2,948 |
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Notional Amount of Fair Value Hedge Instruments | 758,648 | 807,732 |
Asset Derivatives, Fair Value, Gross Asset | 8,825 | 4,073 |
Liability Derivatives, Fair Value, Gross Liability | 1,765 | 14,318 |
Equity, Foreign Currency, Commodity and Metals Indexed Options [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Notional Amount of Fair Value Hedge Instruments | 178,155 | 171,405 |
Asset Derivatives, Fair Value, Gross Asset | 7,597 | 7,719 |
Liability Derivatives, Fair Value, Gross Liability | 0 | 0 |
Options Embedded in Customer Deposits [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Notional Amount of Fair Value Hedge Instruments | 176,382 | 170,176 |
Asset Derivatives, Fair Value, Gross Asset | 0 | 0 |
Liability Derivatives, Fair Value, Gross Liability | 7,530 | 7,689 |
Indemnification Asset [Member] | Not Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Notional Amount of Fair Value Hedge Instruments | 112,863 | 147,897 |
Asset Derivatives, Fair Value, Gross Asset | 6,460 | 7,531 |
Liability Derivatives, Fair Value, Gross Liability | 0 | 0 |
Not Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives, Fair Value, Gross Asset | 35,361 | 32,447 |
Liability Derivatives, Fair Value, Gross Liability | 21,182 | 27,868 |
Derivative [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset, Fair Value, Amount Offset Against Collateral | 29,612 | 28,170 |
Derivative Liability, Fair Value, Amount Offset Against Collateral | 20,225 | 15,398 |
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Notional Amount of Fair Value Hedge Instruments | 53,000 | 253,000 |
Asset Derivatives, Fair Value, Gross Asset | 0 | 0 |
Liability Derivatives, Fair Value, Gross Liability | $2,927 | $27,897 |
Derivative_Financial_Instrumen7
Derivative Financial Instruments Activity for Derivatives in Cash Flow Hedges & Freestanding Derivatives (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||
Maximum Length of Time Hedged in Cash Flow Hedge | ' | ' | '6 years | ' | ||
Not Designated as Hedging Instrument [Member] | ' | ' | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | ($21,480) | $56,037 | ($36,880) | $77,752 | ||
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | ' | ' | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | -20,631 | 56,027 | -35,794 | [1] | 78,059 | [1] |
Indemnification Asset [Member] | Not Designated as Hedging Instrument [Member] | ' | ' | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | -844 | 16 | -1,071 | [2] | -161 | [2] |
Other Contract [Member] | Not Designated as Hedging Instrument [Member] | ' | ' | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | ($5) | ($6) | ($15) | ($146) | ||
[1] | (1)Interest rate contracts include interest rate lock commitments, forward and optional forward purchase and sales commitments, and interest rate swaps and futures. | |||||
[2] | (2)Refer to Note 13 for additional information relating to the indemnification asset. |
Fair_Value_Measurements_Textua
Fair Value Measurements Textual (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Fair Value Measurements [Abstract] | ' | ' | ' | ' |
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $30,517 | $26,304 | $30,857 | $87,935 |
Fair_Value_Measurements_Assets
Fair Value Measurements Assets and Liabilities Measured on Recurring Basis (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | $1,029,667 | $1,115,627 | ||
Loans Held-for-sale, Fair Value Disclosure | 829,946 | 672,371 | ||
Derivative Liability Netting and Cash Collateral Adjustments | -3,884 | -40,367 | ||
Derivative Asset Netting and Cash Collateral Adjustments | -5,749 | -4,277 | ||
Residential Collateralized Mortgage Obligations Securities Not Issued by US Government Sponsored Enterprises [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | 1,027,352 | 1,109,271 | ||
Asset-backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | 1,710 | 3,086 | ||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 848,702 | [1] | 49,619 | [1] |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 16,041 | [1] | 71,473 | [1] |
Fair Value, Measurements, Recurring [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative Liability Netting and Cash Collateral Adjustments | -3,884 | -40,367 | ||
Derivative Asset Netting and Cash Collateral Adjustments | -5,749 | -4,277 | ||
Derivative Asset | 29,612 | 28,170 | ||
Derivative Liability | 20,225 | 15,398 | ||
Fair Value, Measurements, Recurring [Member] | Available-for-sale Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | 1,029,667 | 1,115,627 | ||
Fair Value, Measurements, Recurring [Member] | Residential Collateralized Mortgage Obligations Securities Not Issued by US Government Sponsored Enterprises [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | 1,027,352 | 1,109,271 | ||
Fair Value, Measurements, Recurring [Member] | Asset-backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | 1,710 | 3,086 | ||
Fair Value, Measurements, Recurring [Member] | Other Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | 605 | 3,270 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 0 | [2] | 0 | |
Derivative Liability, Fair Value, Gross Liability | 0 | [2] | 0 | |
Loans Held-for-sale, Fair Value Disclosure | 0 | [2] | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Available-for-sale Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | 379 | [2] | 399 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Residential Collateralized Mortgage Obligations Securities Not Issued by US Government Sponsored Enterprises [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | 0 | [2] | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Asset-backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | 0 | [2] | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Other Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | 379 | [2] | 399 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 18,284 | 24,020 | ||
Derivative Liability, Fair Value, Gross Liability | 23,744 | 53,199 | ||
Loans Held-for-sale, Fair Value Disclosure | 673,400 | 613,459 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Available-for-sale Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | 1,029,288 | 1,115,228 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Residential Collateralized Mortgage Obligations Securities Not Issued by US Government Sponsored Enterprises [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | 1,027,352 | 1,109,271 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | 1,710 | 3,086 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | 226 | 2,871 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative Asset, Fair Value, Gross Asset | 17,077 | 8,427 | ||
Derivative Liability, Fair Value, Gross Liability | 365 | 2,566 | ||
Loans Held-for-sale, Fair Value Disclosure | 156,546 | 58,912 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Available-for-sale Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Residential Collateralized Mortgage Obligations Securities Not Issued by US Government Sponsored Enterprises [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-backed Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Available for sale securities | 0 | 0 | ||
Aggregate Fair Value Under Fair Value Option [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 829,946 | 672,371 | ||
Interest Rate Contract [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Derivative Asset | $0 | ' | ||
[1] | (1)The carrying value of loans held for sale excludes $829,946 and $672,371 in loans measured at fair value on a recurring basis as of JuneB 30, 2014 and DecemberB 31, 2013, respectively. | |||
[2] | (1)Level 1 derivative assets include interest rate swap futures. These futures are settled on a daily basis between the counterparty and the Company, resulting in the Company holding an outstanding notional balance and a zero derivative balance. See Note 12 for additional information regarding the interest rate future. |
Fair_Value_Measurements_Fair_V
Fair Value Measurements Fair Value Assets and Liabilities Measured On Recurring Basis Reconciliation (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | ||||||||
Loans Held for Sale [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | $156,546 | [1] | $287,906 | [1] | $156,546 | [1] | $287,906 | [1] | $63,705 | [1] | $58,912 | [1] | $0 | [1] | $0 | [1] |
Settlements | -9,443 | [1] | 0 | -26,888 | [1] | 0 | [1] | ' | ' | ' | ' | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales | -87,748 | [1] | ' | -143,345 | [1] | ' | ' | ' | ' | ' | ||||||
Gain (Loss) Included in Earnings | 2,450 | [1] | -3,382 | [1] | 3,790 | [1] | -3,382 | [1] | ' | ' | ' | ' | ||||
Change in Unrealized Gain (Loss) Included in Other Income | 1,822 | [1] | -3,382 | [1] | 1,822 | [1] | -3,382 | [1] | ' | ' | ' | ' | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issues | 187,582 | [1] | 291,288 | [1] | 264,077 | [1] | 291,288 | [1] | ' | ' | ' | ' | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | ' | ' | ' | 0 | ' | ' | ' | ' | ||||||||
Clawback Liability [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value | 0 | [2] | -48,993 | [2] | 0 | [2] | -48,993 | [2] | 0 | [2] | 0 | [2] | -52,188 | [2] | -50,720 | [2] |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ' | ' | ' | ' | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Sales | 0 | ' | 0 | ' | ' | ' | ' | ' | ||||||||
Gain (Loss) Included in Earnings | 0 | [2] | 3,195 | [2] | 0 | [2] | 1,727 | [2] | ' | ' | ' | ' | ||||
Change in Unrealized Gain (Loss) Included in Other Income | 0 | [2] | 3,195 | [2] | 0 | [2] | 1,727 | [2] | ' | ' | ' | ' | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3 | ' | ' | ' | 0 | ' | ' | ' | ' | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issues | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | ' | ' | ' | ' | ||||
Freestanding Derivative [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value | 16,712 | [3] | -7,496 | [3] | 16,712 | [3] | -7,496 | [3] | 7,348 | [3] | 5,861 | [3] | 15,544 | [3] | 9,092 | [3] |
Settlements | -28,951 | [3] | -40,259 | -35,966 | [3] | -40,259 | [3] | ' | ' | ' | ' | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales | 0 | ' | 0 | ' | ' | ' | ' | ' | ||||||||
Gain (Loss) Included in Earnings | 20,540 | [3] | -74,574 | [3] | 23,903 | [3] | -74,750 | [3] | ' | ' | ' | ' | ||||
Change in Unrealized Gain (Loss) Included in Other Income | 9,364 | [1] | -23,040 | [3] | 10,850 | [3] | -23,216 | [3] | ' | ' | ' | ' | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issues | 17,775 | [3] | 91,793 | [3] | 22,914 | [3] | 91,793 | [3] | ' | ' | ' | ' | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | ' | ' | ' | $6,628 | ' | ' | ' | ' | ||||||||
[1] | (1)Net realized and unrealized gains on loans held for sale are included in gain on sale of loans. | |||||||||||||||
[2] | (2)Changes in fair value of the Federal Deposit Insurance Corporation (FDIC) clawback liability are recorded in general and administrative expense. | |||||||||||||||
[3] | (3)Net realized and unrealized gains (losses) on IRLCs are included in gain on sale of loans. Changes in the fair value of the indemnification assets are recorded in general and administrative expense. |
Fair_Value_Measurements_Fair_V1
Fair Value Measurements Fair Value Inputs Assets Quantitative Information (Details) (USD $) | 6 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 829,946 | 672,371 | ||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 16,041 | [1] | 71,473 | [1] |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 156,546 | 58,912 | ||
Discounted Cash Flow [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
FDIC Indemnification Asset | 6,460 | 7,531 | ||
Other Derivatives Not Designated as Hedging Instruments at Fair Value, Net | 10,252 | -1,670 | ||
Loans Held-for-sale, Fair Value Disclosure | 156,546 | 58,912 | ||
Discounted Cash Flow [Member] | Mortgage Servicing Rights [Member] | Fair Value, Measurements, Recurring [Member] | Minimum [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Fair Value Unobservable Input, Reinstatement Rate | 6.54% | [2] | 0.00% | [2] |
Fair Value Unobservable Input, Loss Duration | '9 months 0 days | [2] | '9 months | [2] |
Fair Value Unobservable Input, Loss Severity | -1.90% | [2] | -4.96% | [2] |
Fair Value Inputs, Discount Rate | 4.35% | 4.35% | ||
Discounted Cash Flow [Member] | Mortgage Servicing Rights [Member] | Fair Value, Measurements, Recurring [Member] | Maximum [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Fair Value Unobservable Input, Reinstatement Rate | 66.48% | [2] | 68.98% | [2] |
Fair Value Unobservable Input, Loss Duration | '81 months 0 days | [2] | '100 months | [2] |
Fair Value Unobservable Input, Loss Severity | 13.25% | [2] | 19.70% | [2] |
Fair Value Inputs, Discount Rate | 4.35% | 4.35% | ||
Discounted Cash Flow [Member] | Mortgage Servicing Rights [Member] | Fair Value, Measurements, Recurring [Member] | Weighted Average [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Fair Value Unobservable Input, Reinstatement Rate | 31.40% | [2] | 23.61% | [2] |
Fair Value Unobservable Input, Loss Duration | '38 months 0 days | [2] | '36 months | [2] |
Fair Value Unobservable Input, Loss Severity | 6.74% | [2] | 6.54% | [2] |
Fair Value Inputs, Discount Rate | 4.35% | 4.35% | ||
Discounted Cash Flow [Member] | Freestanding Derivative [Member] | Fair Value, Measurements, Recurring [Member] | Minimum [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Fair Value Inputs Loan Closing Ratio | 0.00% | [3] | 0.00% | [3] |
Discounted Cash Flow [Member] | Freestanding Derivative [Member] | Fair Value, Measurements, Recurring [Member] | Maximum [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Fair Value Inputs Loan Closing Ratio | 99.00% | [3] | 99.00% | [3] |
Discounted Cash Flow [Member] | Freestanding Derivative [Member] | Fair Value, Measurements, Recurring [Member] | Weighted Average [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Fair Value Inputs Loan Closing Ratio | 53.28% | [3] | 79.74% | [3] |
Discounted Cash Flow [Member] | Loans Held for Sale [Member] | Fair Value, Measurements, Recurring [Member] | Minimum [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Fair Value Unobservable Input, Loss Severity | 1.94% | 0.00% | ||
Fair Value Inputs, Discount Rate | 2.40% | 2.81% | ||
Fair Value Inputs, Prepayment Rate | 5.07% | 4.68% | ||
Fair Value Inputs, Probability of Default | 0.00% | 0.00% | ||
Fair Value Inputs, Weighted Average Life | '4 years 9 months 0 days | '5 years 0 months 18 days | ||
Fair Value Inputs, Cumulative Loss | 0.00% | 0.00% | ||
Discounted Cash Flow [Member] | Loans Held for Sale [Member] | Fair Value, Measurements, Recurring [Member] | Maximum [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Fair Value Unobservable Input, Loss Severity | 30.08% | 27.20% | ||
Fair Value Inputs, Discount Rate | 3.25% | 3.75% | ||
Fair Value Inputs, Prepayment Rate | 17.03% | 14.78% | ||
Fair Value Inputs, Probability of Default | 4.41% | 2.25% | ||
Fair Value Inputs, Weighted Average Life | '10 years 7 months 10 days | '10 years 8 months 27 days | ||
Fair Value Inputs, Cumulative Loss | 2.43% | 0.61% | ||
Discounted Cash Flow [Member] | Loans Held for Sale [Member] | Fair Value, Measurements, Recurring [Member] | Weighted Average [Member] | ' | ' | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ||
Fair Value Unobservable Input, Loss Severity | 12.58% | 19.68% | ||
Fair Value Inputs, Discount Rate | 2.98% | 3.45% | ||
Fair Value Inputs, Prepayment Rate | 9.15% | 7.58% | ||
Fair Value Inputs, Probability of Default | 0.53% | 0.18% | ||
Fair Value Inputs, Weighted Average Life | '7 years 9 months 29 days | '8 years 3 months 1 day | ||
Fair Value Inputs, Cumulative Loss | 0.09% | 0.04% | ||
[1] | (1)The carrying value of loans held for sale excludes $829,946 and $672,371 in loans measured at fair value on a recurring basis as of JuneB 30, 2014 and DecemberB 31, 2013, respectively. | |||
[2] | (1)The range represents the sum of the highest and lowest values for all tranches that we use in our valuation process. | |||
[3] | (2)The range represents the highest and lowest loan closing rates used in the IRLC valuation. The range includes the closing ratio for rate locks unclosed at the end of the period, as well as the closing ratio for loans which have settled during the period. |
Fair_Value_Measurements_Fair_V2
Fair Value Measurements Fair Value Option Quantitative Disclosures (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ' | ' | ' |
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $30,517 | $26,304 | $30,857 | $87,935 | ' |
Loans Held-for-sale, Fair Value Disclosure | 829,946 | ' | 829,946 | ' | 672,371 |
Aggregate Unpaid Principal Balance Under Fair Value Option [Member] | ' | ' | ' | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ' | ' | ' |
Loans Held-for-sale, Fair Value Disclosure | 799,081 | ' | 799,081 | ' | 659,592 |
Fair Value, Option, Aggregate Fair Value Over Under Aggregate Unpaid Principal Balance [Member] | ' | ' | ' | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ' | ' | ' |
Loans Held-for-sale, Fair Value Disclosure | 30,865 | ' | 30,865 | ' | 12,779 |
Fair Value, Measurements, Recurring [Member] | Aggregate Fair Value Under Fair Value Option [Member] | ' | ' | ' | ' | ' |
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ' | ' | ' |
Loans Held-for-sale, Fair Value Disclosure | $829,946 | ' | $829,946 | ' | $672,371 |
Fair_Value_Measurements_Nonrec
Fair Value Measurements Nonrecurring (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | $829,946 | $672,371 | ||
Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 864,743 | [1] | 121,092 | [1] |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 848,702 | [1] | 49,619 | [1] |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 16,041 | [1] | 71,473 | [1] |
Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Collateral dependent loans | 11,699 | 907 | ||
Other Real Estate Owned, Fair Value Disclosure | 5,159 | [2] | 7,009 | [2] |
Mortgage servicing rights | 64,877 | [3] | 448,925 | [3] |
Loans Held-for-sale, Fair Value Disclosure | 2,447 | 9,123 | ||
Fair Value, Measurements, Nonrecurring [Member] | Change During Period, Fair Value Disclosure [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Collateral dependent loans | 1,405 | 248 | ||
Other Real Estate Owned, Fair Value Disclosure | 907 | [2] | 2,008 | [2] |
Mortgage servicing rights | -4,941 | [3] | -94,951 | [3] |
Loans Held-for-sale, Fair Value Disclosure | 62 | 424 | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Collateral dependent loans | 0 | 0 | ||
Other Real Estate Owned, Fair Value Disclosure | 0 | [2] | 0 | [2] |
Mortgage servicing rights | 0 | [3] | 0 | [3] |
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Collateral dependent loans | 0 | 0 | ||
Other Real Estate Owned, Fair Value Disclosure | 0 | [2] | 0 | [2] |
Mortgage servicing rights | 0 | [3] | 0 | [3] |
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Collateral dependent loans | 11,699 | 907 | ||
Other Real Estate Owned, Fair Value Disclosure | 5,159 | [2] | 7,009 | [2] |
Discounted Cash Flow [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Mortgage servicing rights | 64,877 | [3] | 448,925 | [3] |
Loans Held-for-sale, Fair Value Disclosure | $2,447 | $9,123 | ||
[1] | (1)The carrying value of loans held for sale excludes $829,946 and $672,371 in loans measured at fair value on a recurring basis as of JuneB 30, 2014 and DecemberB 31, 2013, respectively. | |||
[2] | (1)Gains and losses resulting from subsequent measurement of OREO are included in the condensed consolidated statements of income as general and administrative expense. OREO is included in other assets in the condensed consolidated balance sheets. | |||
[3] | (2)The fair value for mortgage servicing rights represents the value of the strata with impairment or recoveries on previous valuation allowances. |
Fair_Value_Measurements_Nonrec1
Fair Value Measurements Nonrecurring Quantitative Disclosures (Details) (USD $) | 6 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 829,946 | 672,371 | ||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Collateral Dependent Loans, Fair Value Disclosure | 0 | 0 | ||
Other Real Estate Owned, Fair Value Disclosure | 0 | [2] | 0 | [2] |
Servicing Asset at Fair Value, Amount | 0 | [3] | 0 | [3] |
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 848,702 | [1] | 49,619 | [1] |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Collateral Dependent Loans, Fair Value Disclosure | 0 | 0 | ||
Other Real Estate Owned, Fair Value Disclosure | 0 | [2] | 0 | [2] |
Servicing Asset at Fair Value, Amount | 0 | [3] | 0 | [3] |
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 16,041 | [1] | 71,473 | [1] |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Collateral Dependent Loans, Fair Value Disclosure | 11,699 | 907 | ||
Other Real Estate Owned, Fair Value Disclosure | 5,159 | [2] | 7,009 | [2] |
Fair Value, Inputs, Level 3 [Member] | Appraised Value [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Collateral Dependent Loans, Fair Value Disclosure | 11,699 | 907 | ||
Other Real Estate Owned, Fair Value Disclosure | 5,159 | 7,009 | ||
Fair Value, Inputs, Level 3 [Member] | Discounted Cash Flow [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Servicing Asset at Fair Value, Amount | 64,877 | [3] | 448,925 | [3] |
Loans Held-for-sale, Fair Value Disclosure | 2,447 | 9,123 | ||
Mortgage Servicing Rights [Member] | Minimum [Member] | Discounted Cash Flow [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Fair Value Inputs, Prepayment Rate | 16.44% | [4] | 16.50% | [4] |
Fair Value Inputs, Discount Rate | 9.84% | [5] | 9.20% | [5] |
Mortgage Servicing Rights [Member] | Maximum [Member] | Discounted Cash Flow [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Fair Value Inputs, Prepayment Rate | 18.19% | [4] | 19.80% | [4] |
Fair Value Inputs, Discount Rate | 9.87% | [5] | 9.80% | [5] |
Mortgage Servicing Rights [Member] | Weighted Average [Member] | Discounted Cash Flow [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Fair Value Inputs, Prepayment Rate | 17.07% | [4] | 19.25% | [4] |
Fair Value Inputs, Discount Rate | 9.85% | [5] | 9.37% | [5] |
Loans Held for Sale [Member] | Minimum [Member] | Discounted Cash Flow [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Fair Value Inputs, Prepayment Rate | 5.07% | 4.68% | ||
Fair Value Inputs, Probability of Default | 0.00% | 0.00% | ||
Fair Value Inputs, Weighted Average Life | '4 years 9 months 0 days | '5 years 0 months 18 days | ||
Fair Value Inputs, Cumulative Loss | 0.00% | 0.00% | ||
Fair Value Inputs, Loss Severity | 1.94% | 0.00% | ||
Fair Value Inputs, Discount Rate | 2.40% | 2.81% | ||
Loans Held for Sale [Member] | Maximum [Member] | Discounted Cash Flow [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Fair Value Inputs, Prepayment Rate | 17.03% | 14.78% | ||
Fair Value Inputs, Probability of Default | 4.41% | 2.25% | ||
Fair Value Inputs, Weighted Average Life | '10 years 7 months 10 days | '10 years 8 months 27 days | ||
Fair Value Inputs, Cumulative Loss | 2.43% | 0.61% | ||
Fair Value Inputs, Loss Severity | 30.08% | 27.20% | ||
Fair Value Inputs, Discount Rate | 3.25% | 3.75% | ||
Loans Held for Sale [Member] | Weighted Average [Member] | Discounted Cash Flow [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Fair Value Inputs, Prepayment Rate | 9.15% | 7.58% | ||
Fair Value Inputs, Probability of Default | 0.53% | 0.18% | ||
Fair Value Inputs, Weighted Average Life | '7 years 9 months 29 days | '8 years 3 months 1 day | ||
Fair Value Inputs, Cumulative Loss | 0.09% | 0.04% | ||
Fair Value Inputs, Loss Severity | 12.58% | 19.68% | ||
Fair Value Inputs, Discount Rate | 2.98% | 3.45% | ||
Collateral-dependent Loans [Member] | Minimum [Member] | Sales Comparison Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Fair Value Unobservable Input, Appraisal Value Adjustment | ' | 0.00% | ||
Collateral-dependent Loans [Member] | Maximum [Member] | Sales Comparison Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Fair Value Unobservable Input, Appraisal Value Adjustment | ' | 47.00% | ||
Other Real Estate Owned [Member] | Minimum [Member] | Sales Comparison Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Fair Value Unobservable Input, Appraisal Value Adjustment | ' | 0.00% | ||
Other Real Estate Owned [Member] | Maximum [Member] | Sales Comparison Approach [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Fair Value Unobservable Input, Appraisal Value Adjustment | ' | 82.00% | ||
Estimate of Fair Value Measurement [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 864,743 | [1] | 121,092 | [1] |
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Collateral Dependent Loans, Fair Value Disclosure | 11,699 | 907 | ||
Other Real Estate Owned, Fair Value Disclosure | 5,159 | [2] | 7,009 | [2] |
Servicing Asset at Fair Value, Amount | 64,877 | [3] | 448,925 | [3] |
Loans Held-for-sale, Fair Value Disclosure | 2,447 | 9,123 | ||
Changes Measurement [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ' | ' | ||
Collateral Dependent Loans, Fair Value Disclosure | 1,405 | 248 | ||
Other Real Estate Owned, Fair Value Disclosure | 907 | [2] | 2,008 | [2] |
Servicing Asset at Fair Value, Amount | -4,941 | [3] | -94,951 | [3] |
Loans Held-for-sale, Fair Value Disclosure | 62 | 424 | ||
[1] | (1)The carrying value of loans held for sale excludes $829,946 and $672,371 in loans measured at fair value on a recurring basis as of JuneB 30, 2014 and DecemberB 31, 2013, respectively. | |||
[2] | (1)Gains and losses resulting from subsequent measurement of OREO are included in the condensed consolidated statements of income as general and administrative expense. OREO is included in other assets in the condensed consolidated balance sheets. | |||
[3] | (2)The fair value for mortgage servicing rights represents the value of the strata with impairment or recoveries on previous valuation allowances. | |||
[4] | (2)The prepayment speed assumptions include a blend of prepayment speeds that are influenced by mortgage interest rates, the current macroeconomic environment and borrower behaviors and may vary over the expected life of the asset. The range represents the highest and lowest values for the strata with recoveries on previous valuation allowances. | |||
[5] | (3)The discount rate range represents the highest and lowest values for the MSR strata with recoveries on previous valuation allowances. |
Fair_Value_Measurements_Fair_V3
Fair Value Measurements Fair Value by Balance Sheet Grouping (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Held-to-maturity Securities | $118,614 | $107,312 | ||
Held to maturity securities | 120,965 | 107,921 | ||
Loans held for sale | 1,704,406 | 791,382 | ||
Loans Held-for-sale, Fair Value Disclosure | 829,946 | 672,371 | ||
Deposits | 13,874,675 | 13,261,340 | ||
Other borrowings | 3,797,000 | 2,377,000 | ||
Loans Receivable, Allowance | 51,163 | 59,417 | ||
Loans and Leases Receivable, Net Amount | 15,237,916 | 13,189,034 | ||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Held to maturity securities | 0 | 0 | ||
Loans Held-for-sale, Fair Value Disclosure | 0 | [1] | 0 | [1] |
Loans Receivable, Fair Value Disclosure | 0 | [2] | 0 | [2] |
Time deposits | 0 | 0 | ||
Other borrowings | 0 | 0 | ||
Trust preferred securities | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Held to maturity securities | 120,965 | 107,921 | ||
Loans Held-for-sale, Fair Value Disclosure | 848,702 | [1] | 49,619 | [1] |
Loans Receivable, Fair Value Disclosure | 0 | [2] | 0 | [2] |
Time deposits | 4,774,218 | 3,680,868 | ||
Other borrowings | 3,804,576 | 2,353,858 | ||
Trust preferred securities | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Held to maturity securities | 0 | 0 | ||
Loans Held-for-sale, Fair Value Disclosure | 16,041 | [1] | 71,473 | [1] |
Loans Receivable, Fair Value Disclosure | 14,053,839 | [2] | 12,266,499 | [2] |
Time deposits | 0 | 0 | ||
Other borrowings | 0 | 0 | ||
Trust preferred securities | 94,310 | 86,220 | ||
Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Held-to-maturity Securities | 118,614 | 107,312 | ||
Loans held for sale | 874,460 | [1] | 119,011 | [1] |
Loans held for investment | 13,965,944 | [2] | 12,153,835 | [2] |
Time deposits | 4,741,216 | 3,654,179 | ||
Other borrowings | 3,797,000 | 2,377,000 | ||
Trust preferred securities | 103,750 | 103,750 | ||
Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Held to maturity securities | 120,965 | 107,921 | ||
Loans Held-for-sale, Fair Value Disclosure | 864,743 | [1] | 121,092 | [1] |
Loans Receivable, Fair Value Disclosure | 14,053,839 | [2] | 12,266,499 | [2] |
Time deposits | 4,774,218 | 3,680,868 | ||
Other borrowings | 3,804,576 | 2,353,858 | ||
Trust preferred securities | 94,310 | 86,220 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 0 | [3] | 0 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 673,400 | 613,459 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 156,546 | 58,912 | ||
Aggregate Fair Value Under Fair Value Option [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Loans Held-for-sale, Fair Value Disclosure | 829,946 | 672,371 | ||
Finance Leases Financing Receivable [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Loans and Leases Receivable, Net Amount | $1,271,972 | $1,035,199 | ||
[1] | (1)The carrying value of loans held for sale excludes $829,946 and $672,371 in loans measured at fair value on a recurring basis as of JuneB 30, 2014 and DecemberB 31, 2013, respectively. | |||
[2] | (2)The carrying value of loans held for investment is net of the allowance for loan loss of $51,163 and $59,417 as of JuneB 30, 2014 and DecemberB 31, 2013, respectively. In addition, the carrying values excludes $1,271,972 and $1,035,199 of lease financing receivables within our equipment financing receivables portfolio as of JuneB 30, 2014 and DecemberB 31, 2013, respectively. | |||
[3] | (1)Level 1 derivative assets include interest rate swap futures. These futures are settled on a daily basis between the counterparty and the Company, resulting in the Company holding an outstanding notional balance and a zero derivative balance. See Note 12 for additional information regarding the interest rate future. |
Commitments_and_Contingencies_3
Commitments and Contingencies Unfunded Credit Extension Commitments (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Unfunded Commitments to Extend Credit [Line Items] | ' | ' | ||
Unfunded Commitments to Extend Credit | $1,155,377 | $1,532,441 | ||
Commercial Loan [Member] | ' | ' | ||
Unfunded Commitments to Extend Credit [Line Items] | ' | ' | ||
Unfunded Commitments to Extend Credit | 1,096,964 | [1] | 1,467,894 | [1] |
Commercial Loan [Member] | Conditional [Member] | ' | ' | ||
Unfunded Commitments to Extend Credit [Line Items] | ' | ' | ||
Unfunded Commitments to Extend Credit | 667,225 | 1,075,781 | ||
Commercial Loan [Member] | Cancellable [Member] | ' | ' | ||
Unfunded Commitments to Extend Credit [Line Items] | ' | ' | ||
Unfunded Commitments to Extend Credit | 426,073 | 360,165 | ||
Home Equity Line of Credit [Member] | ' | ' | ||
Unfunded Commitments to Extend Credit [Line Items] | ' | ' | ||
Unfunded Commitments to Extend Credit | 24,443 | 28,780 | ||
Credit Card Receivable [Member] | ' | ' | ||
Unfunded Commitments to Extend Credit [Line Items] | ' | ' | ||
Unfunded Commitments to Extend Credit | 32,823 | 34,627 | ||
Standby Letters of Credit [Member] | ' | ' | ||
Unfunded Commitments to Extend Credit [Line Items] | ' | ' | ||
Unfunded Commitments to Extend Credit | $1,147 | $1,140 | ||
[1] | (1) Unfunded commercial commitments include $667,225 and $1,075,781 of conditional commitments for which certain requirements must be met in order to obtain an advance under the existing commitment as of JuneB 30, 2014 and DecemberB 31, 2013, respectively. Of these commitments, $426,073 and $360,165 were cancellable by the Company at JuneB 30, 2014 and DecemberB 31, 2013, respectively. |
Commitments_and_Contingencies_4
Commitments and Contingencies Forward-Dated FHLB Borrowing Agreements (Details) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
September 2013 [Member] | September 2018 [Member] | ' |
Debt Instrument [Line Items] | ' |
FHLB Forward-Dated Borrowing Agreement | $50,000 |
September 2014 [Member] | September 2013 [Member] | September 2018 [Member] | ' |
Debt Instrument [Line Items] | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 2.10% |
November 2014 [Member] | January 2014 [Member] | February 2021 [Member] | ' |
Debt Instrument [Line Items] | ' |
FHLB Forward-Dated Borrowing Agreement | 100,000 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 2.91% |
November 2015 [Member] | May 2014 [Member] | May 2021 [Member] | ' |
Debt Instrument [Line Items] | ' |
FHLB Forward-Dated Borrowing Agreement | 20,000 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 2.87% |
November 2015 [Member] | May 2014 [Member] | May 2024 [Member] | ' |
Debt Instrument [Line Items] | ' |
FHLB Forward-Dated Borrowing Agreement | $60,000 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 3.48% |
Commitments_and_Contingencies_5
Commitments and Contingencies Unfunded Commitments Pipeline (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Loss Contingencies [Line Items] | ' | ' |
Commitments to lend in loans held for investment pipeline | $1,503,070 | $908,979 |
Residential Mortgage [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Commitments to lend in loans held for investment pipeline | 672,767 | 531,642 |
Commercial Loan [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Commitments to lend in loans held for investment pipeline | 545,574 | 208,480 |
Leasing [Member] | ' | ' |
Loss Contingencies [Line Items] | ' | ' |
Commitments to lend in loans held for investment pipeline | $284,729 | $168,857 |
Commitments_and_Contingencies_6
Commitments and Contingencies Unfunded Commitments to Extend Credit Textual (Details) (USD $) | 1 Months Ended | |
Jun. 30, 2014 | Dec. 31, 2013 | |
Other Commitments [Line Items] | ' | ' |
Letters of Credit Outstanding, Amount | $100,018,000 | $60,018,000 |
Other Commitment, Due in Next Twelve Months | 3,647,000 | ' |
Other Commitment, Due in Third Year | 400,000 | ' |
Other Commitment Percentage Increase In Year Three | 5.00% | ' |
Loans and Leases Receivable, Commitments to Purchase or Sell | 749,000,000 | ' |
Residential Mortgage [Member] | ' | ' |
Other Commitments [Line Items] | ' | ' |
Commitment to Lend at Floating Interest Rate | $181,648 | ' |
Commitments_and_Contingencies_7
Commitments and Contingencies Guarantees - Textual (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Recourse Related To Servicing Receivables [Member] | Recourse Related To Servicing Receivables [Member] | Obligation to Repurchase Receivables Sold [Member] | Obligation to Repurchase Receivables Sold [Member] | ||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Principal Amount Outstanding on Loans Securitized or Asset-backed Financing Arrangement | ' | ' | $61,334,290 | ' | ' | ' | ' |
Reserve for Early Payment Default | 139,700 | ' | ' | ' | ' | ' | ' |
Loss Contingency, Estimate of Possible Loss | ' | ' | ' | 5,802 | 23,668 | 26,373 | 20,225 |
Outstanding Principal Balance On Loans Serviced | $49,223,248 | $59,492,239 | ' | ' | ' | ' | ' |
Commitments_and_Contingencies_8
Commitments and Contingencies Federal Reserve Requirement - Textual (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Commitments and Contingencies Disclosure [Abstract] | ' | ' |
Cash Reserve Deposit Required and Made | $140,759 | $149,381 |
Commitments_and_Contingencies_9
Commitments and Contingencies Legal Actions - Textual (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Borrowers [Member] | Housing Agencies [Member] | |
Loss Contingencies [Line Items] | ' | ' | ' |
Settlement for Consent Order Remediation | ' | $39,932 | $6,344 |
Loss Contingency Accrual | $4,750 | ' | ' |
Variable_Interest_Entities_Det
Variable Interest Entities (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Variable Interest, Not Primary Beneficiary, Collateralized Mortgage Obligations, Mortgage Backed Securities, and Asset Backed Securities Through VIEs [Member] | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets | $1,147,902 | $1,219,915 |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | 1,147,902 | 1,219,915 |
Variable Interest, Not Primary Beneficiary Commercial Loans Originated to Variable Interest Entities [Member] | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets | 135,138 | 150,749 |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | 135,138 | 150,749 |
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | Variable Interest, Not Primary Beneficiary, Securitizations through Ginnie Mae not Meeting Sale Accounting Criteria [Member] | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' |
Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets | 112,976 | 50,534 |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | $112,976 | $50,534 |
Segment_Information_Textual_De
Segment Information Textual (Details) | 6 Months Ended |
Jun. 30, 2014 | |
Segment Information [Abstract] | ' |
Number of Reportable Segments | 3 |
Segment_Information_Financial_
Segment Information Financial Information by Reportable Segments (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Net interest income (expense) | $140,191 | $141,217 | $271,035 | $285,033 | ' | |||
Income before income taxes | 56,016 | 74,452 | 107,161 | 137,842 | ' | |||
Total Assets | 19,753,820 | ' | 19,753,820 | ' | 17,640,984 | |||
Servicing Asset at Amortized Cost, Valuation Allowance | 0 | 32,572 | 4,941 | 45,127 | ' | |||
Corporate Services [Member] | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Net interest income (expense) | -1,583 | -1,574 | -3,167 | -3,145 | ' | |||
Total net revenue | -1,297 | -1,325 | -2,744 | -2,737 | ' | |||
Depreciation and amortization | 1,955 | 1,785 | 3,871 | 3,331 | ' | |||
Income before income taxes | -25,898 | -24,971 | -52,916 | -51,458 | ' | |||
Total Assets | 186,630 | 194,395 | 186,630 | 194,395 | ' | |||
Segment Reconciling Items [Member] | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Net interest income (expense) | 0 | 0 | 0 | 0 | ' | |||
Total net revenue | 0 | 0 | 0 | 0 | ' | |||
Depreciation and amortization | 0 | 0 | 0 | 0 | ' | |||
Income before income taxes | 0 | 0 | 0 | 0 | ' | |||
Total Assets | -270,525 | -225,966 | -270,525 | -225,966 | ' | |||
Consolidated [Member] | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Net interest income (expense) | 140,191 | 141,217 | 271,035 | 285,033 | ' | |||
Total net revenue | 229,459 | 288,021 | 444,887 | 565,146 | ' | |||
Depreciation and amortization | 7,983 | 10,221 | 16,736 | 20,121 | ' | |||
Income before income taxes | 56,016 | 74,452 | 107,161 | 137,842 | ' | |||
Total Assets | 19,753,820 | 18,362,872 | 19,753,820 | 18,362,872 | ' | |||
Consumer Banking Segment [Member] | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Net interest income (expense) | 79,994 | 78,354 | 152,118 | 156,883 | ' | |||
Total net revenue | 159,674 | 212,374 | [1] | 306,129 | [2] | 411,868 | [1] | ' |
Depreciation and amortization | 2,321 | 2,654 | 4,596 | 5,275 | ' | |||
Income before income taxes | 42,836 | 53,712 | [1] | 75,862 | [2] | 105,513 | [1] | ' |
Total Assets | 12,864,427 | 12,012,522 | 12,864,427 | 12,012,522 | ' | |||
Servicing Asset at Amortized Cost, Valuation Allowance | ' | 32,572 | 4,941 | ' | ' | |||
Commercial Banking Segment [Member] | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Net interest income (expense) | 61,780 | 64,437 | 122,084 | 131,295 | ' | |||
Total net revenue | 71,082 | 76,972 | 141,502 | 156,015 | ' | |||
Depreciation and amortization | 3,707 | 5,782 | 8,269 | 11,515 | ' | |||
Income before income taxes | 39,078 | 45,711 | 84,215 | 83,787 | ' | |||
Total Assets | 6,973,288 | 6,381,921 | 6,973,288 | 6,381,921 | ' | |||
Intersegment Eliminations [Member] | Corporate Services [Member] | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Total net revenue | 0 | 0 | 0 | 0 | ' | |||
Intersegment Eliminations [Member] | Segment Reconciling Items [Member] | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Total net revenue | 0 | 0 | 0 | 0 | ' | |||
Intersegment Eliminations [Member] | Consolidated [Member] | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Total net revenue | 0 | 0 | 0 | 0 | ' | |||
Intersegment Eliminations [Member] | Consumer Banking Segment [Member] | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Total net revenue | 15,444 | 14,558 | 30,697 | 27,870 | ' | |||
Intersegment Eliminations [Member] | Commercial Banking Segment [Member] | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||
Total net revenue | ($15,444) | ($14,558) | ($30,697) | ($27,870) | ' | |||
[1] | (1) Segment earnings in the Consumer Banking segment included a $32,572 recovery on the MSR valuation allowance for the three months ended JuneB 30, 2013 and a $45,127 recovery on the MSR valuation allowance for the six months ended JuneB 30, 2013. | |||||||
[2] | (2) Segment earnings in the Consumer Banking segment included a $4,941 recovery on the MSR valuation allowance for the six months ended JuneB 30, 2014. |
Subsequent_Events_Details
Subsequent Events (Details) (Subsequent Event [Member], USD $) | 0 Months Ended |
In Thousands, unless otherwise specified | Jul. 03, 2014 |
Subsequent Event [Member] | ' |
Subsequent Event [Line Items] | ' |
Subsequent Event, Date | 3-Jul-14 |
Subsequent Event, Contractual Obligation | $43,057 |